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Taiwan turns in a brilliant performance on two indicators of corporate ethics - and is ranked 2nd in the world.

Taiwan turns in a brilliant performance on two indicators of corporate ethics  - and is ranked 2nd in the world.

January 2018


At a ceremony to mark this achievement, the Chairman of the Taiwan Institute of Sustainable Energy (TAISE), Dr. Eugene Chien (Jian You-Sin), expressed thanks to all of the distinguished guests and representatives of business enterprises present for their efforts in corporate social responsibility and their commitment to tackling global environmental issues.  


Chairman Chien drew attention to a Bloomberg report highlighting the fact that out of the 24 major economies surveyed, it was Taiwan's listed companies that ranked as the world's #2 in terms of  transparency and  information disclosure. It also carried a reminder that enterprises should attach importance to three key points: first, the concept of development over the long term, reinforced by 3-5 year planning increments; second, that strategic thinking should be changed from inward-looking to outward-looking;and third, that success or failure lies ultimately in training people.  He expressed the hope that companies would continue to make progress towards sustainable development by integrating their CSR commitments with their business strategies and guidelines.


Vice President Chen made mention of Taiwan's outstanding achievements in the rankings determined by several international business indicators. He sees the companies involved as being in a kind of national partnership, one that has showcased Taiwan worldwide and shown it to be a responsible member of the global village.


Mr Chen went on to say that the government was basing its long-term plans for resolving some of the country's current and pressing developmental issues - from now up to 2030 - on establishing a number of core projects, setting measurable targets for the next four years and adopting the United Nations' Global Sustainable Development Goals (SDGs).


In closing, the Vice President voiced the  hope that everyone present would carry on the good work towards achieving sustainable corporate development and also guide more enterprises into working together to help Taiwan move towards a brighter and more sustainable future.


In his address, Vice Chairman Cheng Cheng-Mount of the Financial Supervisory Commission (FSC) described  how, in order to emphasize the need for social responsibility and non-financial information disclosure among listed companies,  those with a capitalization of at least NT$10 billion have been required to compile CSR reports dating back to 2013.  The scope has been expanded this year to include NT$5 billion-invested firms and consequently over 330 listed companies are expected to file CSR reports by the year end.


It emerged from the selection process that substantial progress has been made in the overall quality of the reports compared with last year’s entries.


Vice Chairman Cheng further stated that a corporate governance center has been set up within the FSC to support this initiative. Steering groups specializing in non-financial disclosure are assisting firms to recognize the importance of the 17 sustainability indicators of the United Nations SDGs. They are also promoting the proposition that in compiling a CSR report there should be an emphasis on a '5 increase, 2 decrease' scale of  benefits : Increase profits, value (stock price and earnings per share), stakeholders (e.g. employees, customers, suppliers), integrity and competitiveness; reduce risk and the cost of operating funds. Mr Cheng continued by saying that the  foregoing is how the FSC is working to help fulfill the expectation that all of Taiwan's businesses  will begin to realize the importance of CSR in achieving sustainable business goals.



Another worth learning model business is TSMC. The Chairman of TSMC, Morris Chang, is awarded the first ever “corporate sustainability life achievement award” to pay tribute to the contribution of Chairman Chang. Mr. Chang shares TSMC's four operations core value: integrity, two-way commitment, innovation and customer trust. At the same time he emphasizes the corporate social responsibility is to enhance social value. He also thanks for the government, shareholders, employees, suppliers and the community who makes TSMC continues to grow.


The ceremony came to a close by featuring an enterprise providing a business model from which other companies can learn. That firm is Taiwan Semiconductor Manufacturing Company (TSMC); and its Chairman & CEO Morris Chang was the first-ever recipient of the Corporate Sustainability Lifetime Achievement Award – a tribute to his many years of contribution, and one marked by a standing ovation from all present.  In his acceptance speech, Mr Chang shared the four core values by which TSMC operates: integrity, mutual commitment, innovation and customer trust. He went on to say that in his view, the primary purpose of corporate social responsibility is to enhance social values; and that thanks are due to all of TSMC's stakeholders - the government, shareholders, employees, suppliers and the community at large – for the company's continuing growth.