Issue Date：August 2, 2023
In 2022, as the COVID-19 pandemic entered its third year, countries shifted from intense efforts to combat the virus towards a path of peaceful coexistence. Through collective efforts, the situation gradually improved, and people's lives began to return to normal. The economy and industries also started recovering gradually. During this year, we continued to demonstrate strong operational resilience through our robust research and development capabilities, flexible business models, and effective risk management and response strategies. Guided by our core principles of change and innovation, we showcased a solid profitability and operational resilience. We sincerely thank all stakeholders for their support and encouragement, which enabled us to overcome the rapidly changing domestic and international economic situation in the post-pandemic era. With a positive and proactive attitude and an unwavering commitment to creativity, we embraced various challenges and joined hands to envision a sustainable future.
Coretronic has been publishing its annual ESG Report for 15 consecutive years. This report is prepared in accordance with the GRI Standards 2021 issued by the Global Reporting Initiative (GRI) and incorporates sustainability indicators from the Sustainability Accounting Standards Board (SASB). An English version of the report is also released simultaneously to comply with international sustainability standards and strengthen communication with stakeholders. We continuously showcase the company's sustainability performance in the areas of environmental, social/human rights, and economy/governance, aiming to drive sustainable development through innovative technologies. By prioritizing societal needs and leveraging our core capabilities, we promote sustainability projects both internally and externally, working towards our sustainability strategies and goals.
As a role model of Corporate Governance, Coretronic has consistently ranked in the top 5% of corporate governance evaluations for TPEx-listed companies for eight consecutive years. Additionally, it has been among the top 10% of TWSE- and TPEx-listed companies in the electronics industry with a market value of over NT$10 billion for four consecutive years. Coretronic has also been selected for inclusion in the "TIP TPEx ESG Index," "TIP TPEx ESG 30 Index," "TIP TPEx ESG HD TR Index," and "TPEx Labor Employment 88 Index." These achievements highlight the company's highly recognized internal governance mechanisms and sustainable performance. Furthermore, Coretronic has arranged the onilne course named "Awareness of Business Integrity" for all employees. This initiative effectively enhances employees' awareness of ethical business practices and lays a solid foundation for sustainable operations within the organization.
With the trend of net-zero transformation and increasingly stringent international regulations, we have made significant green investments in 2022. We have submitted our commitment to the Science Based Targets initiative (SBTi), pledging to reduce greenhouse gas emissions (Scope 1 and 2) in 2032 by 50% with 2020 as the base year and achieve net-zero emissions by 2050. We anticipate passing the target validation in 2024. Furthermore, we actively participate in domestic and international initiatives such as the Taiwan Climate Partnership, Taiwan Alliance for Net Zero Emissions, CDP, and TCFD. We have also installed multiple solar power systems in our Taiwan and China facilities and increased the procurement of renewable energy to enhance the utilization of clean energy. In the future, we will continue to collaborate with stakeholders to implement various decarbonization initiatives, mitigate greenhouse gas emissions, and expand our green influence. Together, we strive to contribute as responsible global citizens in combating climate change.
Employees are the core driving force behind the company's continuous growth and sustainable operations. In order to fulfill our responsibility as a sports and well-being enterprise and provide a work environment where employees can feel secure and lead happy lives, we conduct annual salary reviews, enhance employee benefits, implement human rights management and training programs, and organize diverse sports and wellness activities to add value to employees' health. These efforts effectively strengthen employee engagement and foster a sense of belonging, ultimately achieving a balance between work and life. Additionally, we actively invest in employee skills development, revitalizing and strengthening the organizational structure to assist in their career advancement. Through our commitment and strategies that closely align with employee needs, we aim to become a recognized happy enterprise by our colleagues.
We are committed to various initiatives such as "Light Wishes for the Rurals", "Farm the Hopes", "Light Pioneer", "Love Followers", and "Dream Walkers". These projects aim to bridge the digital divide between urban and rural areas, promote equal education, and enhance the "Elderly Smile" program to leverage technology in reducing the distance between remote areas and healthcare. We also strive to address the manpower and resource gaps in welfare institutions, enabling the elderly to maintain good physical and mental well-being. Established in 2010, the Coretronic Culture and Arts Foundation actively promotes the "Taiwan Environment Lighting Award" as its core initiative. It extends its reach to government agencies, universities, and the general public, continuously organizing lectures and art education activities to raise awareness of lighting design in the everyday surroundings. Our subsidiary, Optoma, consistently sponsors advanced projection systems for major visual arts exhibitions, successfully integrating core technical expertise with sustainable strategies.
In the face of multiple challenges such as inflation, interest rate hikes, and the ongoing pandemic impacting the global economy, as well as the evolving competitive environment and industry trends, Coretronic will continue to provide comprehensive and diversified integrated display solutions customized for our customers, ensuring steady growth. To adapt to the post-pandemic era and global decarbonization initiatives, we will actively establish a sustainable supply chain, integrate internal resources within the group to develop cross-domain intelligent application technologies, and continue to drive projects such as smart manufacturing and intelligent warehousing. We will implement a globalized deployment and localized operations to enhance overall competitiveness. In the future, in addition to striving for value enhancement through proactive innovation, we will continue to align with global sustainable development frameworks. We aim to collaborate with stakeholders to achieve the United Nations Sustainable Development Goals (SDGs) and exert positive influence to co-create a sustainable world.