Issue Date: February 22, 2024
To effectively reduce the significant impact of extreme climate change on the economy, society, and environment, we introduced the TCFD framework since 2020 to reassess climate change risks and established energy-saving and carbon-reduction strategies based on low-carbon products and green operations to mitigate the greenhouse effect. In addition, in response to the Paris Agreement, we set the carbon reduction target based on SBT* 1.5°C scenario. In 2022, we officially proposed our commitment to achieving net-zero emissions. We aim to reduce GHG emissions (Category 1 and 2) by 25% by 2025, 50% by 2032, and reach net-zero emissions by 2050. We have also submitted our carbon reduction commitment to SBTi and received approval. To achieve our vision of net-zero emissions, we will reduce the use of fossil fuels, increase the use of renewable energy, and engage in innovative low-carbon technology transformation. We will also establish internal carbon pricing in consideration of the environmental cost of business carbon emissions.
*Science Based Targets (SBT): The reasonable carbon reduction limit of industries and businesses across the globe is calculated scientifically within the total carbon emissions to control warming within 1.5°C.
Coretronic actively joins and follows international initiatives. When there are significant changes in climate regulations or progress in net-zero phases, we identify the climate risks and opportunities and quantitatively assess the category, intensity, and likelihood of potential impacts for each risk and opportunity. We then grade and prioritize the risks and opportunities based on the assessment results. Additionally, we formulate improvement strategies and solutions for high-impact and short-term risks and opportunities to reduce negative impacts and enhance organizational climate resilience, creating more business opportunities. Regarding the potential financial impacts caused by climate change, we have obtained relevant financial data. Once the calculation methodology is confirmed, we will be able to estimate the financial impacts, costs, or revenues.
In 2021, we conducted a climate change risks and opportunities assessment and impact analysis based on the TCFD framework. We identified 10 risks and 4 opportunities. For the high-impact and short-term transition risk, "Low-carbon product standards and labels," and the opportunities, "Promotion of low-carbon green production" and "Use of recycled materials," we have developed innovative solutions for low-carbon products. Additionally, for the physical risk of "Rising temperature," we have formulated energy-saving and carbon-reduction strategies.
Upholding the aim to implement energy conservation mechanisms, reduce greenhouse gas (GHG) emissions, fulfill corporate social responsibility, improve the overall corporate image, reduce operating cost, and assure sustainable business and development, we established the Environmental Protection Committee (EPC) in 2015 which holds a committee meeting every quarter (subject to the schedule of organizational budget planning) and provisional meetings where necessary to discuss and review the promotion and implementation of energy conservation, carbon reduction, and environmental protection. EPC promotes the following tasks on a long-term basis:
Heads of Business Resource Center
To amass committee members, host committee meetings, and supervise normal committee operation.
the Management Representative of ISO 14001
To implement committee resolutions and review and gather the effectiveness of implementation.
Environmental Safety Division
To convene committee meetings, draw up energy conservation and carbon reduction programs, follow up the effectiveness of committee resolutions, manage committee meeting minutes and committee documents, and other tasks relating to committee operation.
the Head or Representative of R&D, Manufacture, Product, QC, HR, IT, ER, Procurement, and Factory Affairs
Plan, promote, and executive all the issues and activities related to environmental protection in the organization.