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Climate Governance |
The latest “Global Risk Report” published by the World Economic Forum indicates tha environmental risks will account for half of the world's top 10 risks in the next 10 years, including: "extreme weather events", "tremendous changes in the earth system" and "biodiversity loss and ecosystem collapse",etc. Climate change has inevitably affected the daily life and economic activities of the human beings. As a corporate citizen, we continue improving the corporate resilience to overcome the challenges in the climate issues and build a low-carbon and sustainable homeland.
In order to establish a more complete climate change risk management mechanism, the Company refers to the “Task Force on Climate-related Financial Disclosures”(TCFD) published by the Financial Stability Board (FSB) as a framework for the management of climate change issues and the disclosure of related information, and for further description of the management mechanism, the countermeasures adopted, and their implementation.
The Board of Directors serves as the highest supervisory and governance body for climate-related issues. The Company has established a "Sustainable Development Committee", chaired by the Chairman and led by the President as the Chief Commissioner, to regularly review strategic goals and action plans related to sustainability issues (including climate change), and to track implementation outcomes.
To assess the potential impacts of climate-related issues on business operations, the Sustainable Development Department convenes representatives from relevant departments to form a Climate Risk Assessment Task Force. This task force is responsible for identifying and evaluating climate-related risks. The assessment results are submitted to the Risk Management Task Force and the Sustainable Development Committee. Responsible departments for the relevant risks further evaluate necessary items and propose response strategies and action plans, which are implemented upon approval by the Board of Directors. The Sustainable Development Committee reports to the Board on a quarterly basis to ensure oversight of climate-related actions and to facilitate timely feedback and recommendations. The most recent report in 2024 was submitted on October 31.
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