Climate Governance to Achieve Our Vision

Climate change is one of the most concerning issues facing the world today. It not only affects the global environment but also increases the frequency of extreme weather and natural disasters, which has a major impact on human society and poses great challenges to business operations. According to the Global Risk Report 2024 issued by the World Economic Forum (WEF), extreme weather remains the risk most likely to trigger major crises on a global scale. Climate action is urgent, and no one can shirk their responsibility. As a corporate citizen, TCC firmly believes that achieving sustainable development requires a balanced approach to the Environment (E), Society (S), and Governance (G). Guided by this principle, we've established core corporate values and formulated sustainable development strategies that align with the United Nations' Sustainable Development Goals (SDGs). We regularly review our short-, medium-, and long-term goals to realize our corporate vision, enhance climate resilience, and increase the Company's competitiveness. We are committed to becoming a pioneer within the energy industry and leading the way toward a net-zero and sustainable future.

 

E-Innovative Thinking for Net-Zero Transition

To achieve Taiwan’s 2050 net-zero emissions target, the government has proposed pathways and strategic goals for net-zero emissions. In 2023, the Climate Change Response Act was established to incorporate the net-zero target into law. With the implementation of domestic carbon fees, the EU’s Carbon Border Adjustment Mechanism (CBAM), as well as the requirement for international supply chains to disclose carbon footprints, it is anticipated that global standards for net-zero emissions will become more consistent in the future. As the first listed private-owned power company in Taiwan, TCC views achieving net-zero emissions as its corporate responsibility. We support government energy transition policies, reducing fossil fuel use, enhancing energy efficiency, and expanding renewable energy projects. In the short term, we are aiming to continuously invest in low-carbon gas-fired combined cycle power generation units and the development of renewable energy projects. We are also investing in the establishment of joint booster stations to help resolve issues of grid connection capacity in solar photovoltaic hot zones; furthermore, we will participate in ancillary services and engage in new types of power markets such as energy storage. In the medium and long term, we will continue to promote the renewal and life extension of existing gas-fired power plants, evaluate the introduction of hydrogen co-firing, and develop carbon capture, utilization, and storage (CCUS) technologies. With these efforts, we contribute to the construction of a low/zero-carbon energy supply system and unite to promote enterprise net-zero transition through innovative thinking.

 

S-Diverse, Equitable, and Inclusive Society

TCC firmly believes in the importance of respecting human rights and creating a diverse and equitable work environment. In addition to formulating human rights policies in accordance with international conventions such as the United Nations’ Universal Declaration of Human Rights (UDHR), we are committed to ensuring that employees’ human rights are protected. We shape a culture of Diversity, Equity, and Inclusion (DEI) that ensures employee well-being and social inclusion. We provide a diverse and equitable work environment where everyone is treated fairly, creating a happy workplace that maintains a balance between health and work for employees. TCC values talent selection, cultivation, and retention. To ensure that talent development aligns with the Company’s operational needs, we have established training programs that support sustainable business operations and employees’ career growth. Additionally, we actively contribute to industry talent development by participating in the Electric Grid Talent Alliance initiated by the Industrial Technology Research Institute (ITRI) and collaborating with the Metal Industries Research & Development Centre as well as vocational schools. Through cooperation with industries, the government, research institutes, and academia, we nurture talents in the energy industry, enhance technical capabilities in the power sector, and cultivate cross-disciplinary sustainable expertise. We are committed to promoting the net-zero transition of the energy industry and fostering social inclusivity and mutual benefit.
 

G-Integrity, Transparency, and Sustainable Governance

To align with international corporate governance trends, regulatory authorities have been continuously promoting Corporate Governance 3.0 - Sustainable Development Roadmap. In 2023, the authorities officially launched Corporate Governance 4.0 – Sustainable Development Action Plans, an initiative aimed at leading companies in deepening their sustainable governance practices. The Financial Supervisory Commission (FSC) has further mandated that, starting from 2025, listed companies must incorporate sustainability information management into their internal control systems. This requirement is designed to enhance the disclosure of ESG information and improve communication and engagement with stakeholders. TCC upholds the principle of integrity management and is committed to improving corporate governance. Since 2016, we have been ranked among the top 20% of listed companies for corporate governance evaluation, even reaching top 5% for 4 years. In 2023, TCC received the “Top 100 Sustainability Exemplary Awards” and the “Sustainability Report Gold Award” of the Taiwan Corporate Sustainability Awards (TCSA), as well as the “Excellence in Corporate Social Responsibility – Medium-sized Enterprises” award of CommonWealth Magazine. In 2023, TCC’s green procurement reached NT$450 million, and we were once again honored with the “Green Procurement Award” and the national-level “Outstanding Performance in Green Procurement” recognition from the Ministry of Environment. These recognitions affirm TCC’s determination in implementing a sustainable supply chain and becoming a benchmark for corporate governance.
 

Rooted in the Present, Looking to the Future

For TCC, 2023 was a challenging yet fulfilling year. In addition to successfully completing a cash capital increase, which further stabilized the Company’s financial structure, our overall operational performance was outstanding, with after-tax net profit reaching a record high. The Group’s cumulative renewable electricity sold exceeded 460 GWh, making it the largest renewable-energy-based electricity retailing enterprise in terms of the amount of green energy sold in Taiwan. Recalling to the pandemic period, the global economy was facing severe challenges. Now, with the ongoing Russia–Ukraine war and the eruption of the Israel–Palestine conflict, the importance of alternative energy sources has become even more evident amid international political and economic instability. For Taiwan, which is situated in a geopolitically sensitive region, the development  of diverse and autonomous energy sources is crucial. This aligns with the Company’s future direction, as we continue to expand in core areas such as renewable energy, cogeneration, and gas-fired power plants. Looking back, TCC has upheld a sound business philosophy, laying a solid foundation with careful and deliberate steps. In this rapidly changing era, only by learning from the past and seizing opportunities can we face future challenges. Standing at the forefront of the energy transition, we aim to grasp trends and move toward net-zero emissions, creating another 30 years of prosperity for TCC!