2024/12/12
Leading Sustainability, Shaping the Future! Coretronic Won Double Awards from 2024 Taiwan Corporate Sustainability Awards!
The Taiwan Corporate Sustainability Awards (TCSA), known as “the Oscars of Sustainability”, has been ongoing for 17 years. In 2024, 622 companies applied for the award. Compared to 2023, there was an increase of 96 participants, setting the highest number in its history. Coretronic (5371.TW), a TPEx-listed company known for its excellence in sustainability, was not only honored with “Platinum Award—Corporate Sustainability Reporting Awards” but also entered the final round of the “Premier Sustainability Performance Award”. Moreover, it was named in “Taiwan's Top 100 Sustainable Companies Award” for the 6th consecutive year. Both awards have made remarkable progress in the rankings, leading to high recognition of the Company’s sustainability achievements. Yesterday (11th), the president of Coretronic, as well as an ESG Committee member, Sarah Lin, represented the Company to receive the award at Grand Hilai Taipei.
Coretronic’s Chinese and English 2023 Sustainability Reports follow the latest GRI Standards 2021. In addition to continuing to adopt international standards such as the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), the Company also responds to the United Nations Sustainable Development Goals (SDGs). Moreover, Coretronic regularly engages with stakeholders to identify material topics and submits the results along with the Sustainability Report to the Board of Directors (BoD) for approval, thereby implementing sustainability governance within the BoD and meeting the requirements of Corporate Governance Evaluation 3.0. Bilingual versions, in both Chinese and English ESG Insight have been released for 5 consecutive years, featuring the independent “ESG Performance Highlights” and “ESG Topics” chapters in the Sustainability Report, allowing stakeholders to notice the corporate sustainability efforts more quickly. Furthermore, assured by SGS Taiwan Ltd. with AA1000AS Type 2 High Level Assurance since 2017, which demonstrates that the sustainability information maintains a high level of transparency and credibility.
As a model company for corporate governance, Coretronic adheres to the “Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies” as the guiding framework for its corporate governance operations, establishing a comprehensive internal governance mechanism that enhances information quality and transparency. Additionally, Coretronic has established an Audit Committee, Remuneration Committee, and Nomination Committee to facilitate the Board’s structure and execution. In 2023, Coretronic has honorably earned Asia Responsible Enterprise Awards—“Social Empowerment Award” and “Corporate Governance Award”, and the Company has been ranked in the top 5% among TPEx-listed companies in “Corporate Governance Evaluation” for 10 consecutive years since 2015, won TCSA “Transparency and Integrity Leadership Award” for 7 consecutive years since 2018. Furthermore, it has also been listed in various ESG Indices, such as “TIP TPEx ESG 30 Index”, “TIP TPEx ESG HD TR Index”, “TIP TPEx ESG ML Total Return Index”, “TPEx FactSet Climate Resilience TR Index”, “TPEx Corporate Governance Index”, “TPEx Compensation Index”, and “TPEx Labor Employment 88 Index”, highlighting Coretronic’s dedication and maturity in corporate governance.
To improve organizational climate resilience and align with international initiatives, Coretronic has set its emission reduction targets and methods based on the SBT 1.5°C scenario, committing to “Reduce absolute Scope 1 and 2 GHG emissions 50.4% by 2032 from a 2021 base year, and reduce absolute Scope 3 GHG emissions 30% within the same timeframe”, which have been approved by the SBTi. In 2023, the emissions decreased 42% compared to 2021, significantly exceeding the expected net-zero pathway. In addition, the Company has published “Annual TCFD (Task Force on Climate-Related Financial Disclosures) Report” for two years, and responded to the CDP questionnaire for 5 consecutive years. In 2023, it received the highest rating of A (Leadership Level) in the Supplier Engagement Rating, and B (Management Level) ratings in both Climate Change and Water Security questionnaires. Meanwhile, the Company has joined the “Taiwan Climate Partnership” and the “Taiwan Alliance for Net Zero Emission”. In 2024, the Chairman signed the “RE100 and EV100 Statement”, pledging to achieve 100% electrification of transportation vehicles by 2030 and 100% renewable energy usage by 2040. So far, the Company has installed 8 self-use solar power generation systems and procured renewable energy through green power wheeling and renewable energy certificates. The renewable energy usage rate reached 16% in 2023. Meanwhile, the Company has also built a Product Carbon Footprint Inventory Platform to analyze emission structures, optimize product design, and strengthen the sustainability competitiveness of its products, fully demonstrating the Company’s determination to fulfill its climate commitments.
To create a diverse and inclusive workplace, Coretronic centered its efforts on the “Project-Three-Generation”, focusing on three key pillars: “Connecting Multigenerational Employees”, “Enhancing Composite Employee Experience”, and “Deepening the Competency Academy”, fostering integration and growth across a multigenerational workforce. Through a “vertical five-tier” framework, the Company provided customized training programs tailored to various levels of employees and established the “YuanZe Coretronic Academy” to integrate internal and external resources, thereby enhancing professional skills and competency development. In addition, the Company hires individuals with disabilities in excess of the legal requirement, participates in cross-cultural activities to promote diverse cultural exchange, and dedicates itself to youth empowerment and industry-academia collaboration by offering internships to develop potential talent. Moreover, to enhance productivity and strengthen the inheritance of technical knowledge from senior employees, new hires can adapt and grow quickly through the Mentor system and cross-disciplinary sharing sessions. Coretronic has also established diverse communication channels to actively listen to the voices and suggestions of employees, encouraging them to think innovatively and transform their ideas into drivers of corporate growth. This aims to create a comfortable and sustainable learning environment in the workplace.
In terms of social engagement, Coretronic has joined hands with Firefly Volunteer Team, social enterprises, NPOs, and local universities/communities to implement five major programs since 2011—“Light Wishes for the Rurals”, “Light Pioneer”, “Love Followers”, “Dream Walkers”, and “Elderly Smile”. These projects aim to support disadvantaged groups in the long term by leveraging the Company’s core expertise to solve existing social challenges. To bridge the digital and resource gap between urban and rural areas, Coretronic continues to partner with students from the Department of Electronics and Electrical Engineering at National Yang Ming Chiao Tung University and Papacode to host “Future Light Camp 2.0”. This 6-day programming camp is designed for fourth to sixth graders in rural and suburban elementary schools in Miaoli County. It not only enables children to finish the 7th-grade through the first semester of 8th-grade programming curriculum ahead of time, but also allows them to collaborate with teammates to complete two game programs. Moreover, in response to the growing caregiving need for solitary elderly in Taiwan’s aged society, Coretronic addresses seniors’ needs in supplies, nutrition, and healthcare by initiating three “Elderly Smile” programs—“Warm Delivery”, “Warm Telehealth”, and “Warm Restaurant”. Through partnerships with multiple social enterprises and NPOs, the Company actively tackles the challenges faced by solitary elderly, leverages technology to narrow the healthcare resource gap in rural areas, and strengthens staffing and resources at welfare institutions. Through these efforts, the Company aims to ensure the physical and mental well-being of seniors, support them in enjoying a healthy life, and realize the vision of aging in place.
Coretronic states that, upholding its sustainability DNA of “utilizing light to illuminate the economy and society; creating a green environment that ensures everyone has access to a sustainable and bright future,” the Company will gradually implement a series of net-zero initiatives aligned with the net-zero pathway, ultimately realizing the vision of “25% emissions reduction by 2025, 50% emissions reduction by 2032, and net-zero emissions by 2050.” At the same time, in response to pressing social issues, Coretronic has planned and jointly executed long-term social engagement projects with stakeholders, comprehensively strengthening and expanding the Company’s sustainability competitiveness and influence, and working hand in hand with stakeholders to create a sustainable future.
Coretronic’s Chinese and English 2023 Sustainability Reports follow the latest GRI Standards 2021. In addition to continuing to adopt international standards such as the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD), the Company also responds to the United Nations Sustainable Development Goals (SDGs). Moreover, Coretronic regularly engages with stakeholders to identify material topics and submits the results along with the Sustainability Report to the Board of Directors (BoD) for approval, thereby implementing sustainability governance within the BoD and meeting the requirements of Corporate Governance Evaluation 3.0. Bilingual versions, in both Chinese and English ESG Insight have been released for 5 consecutive years, featuring the independent “ESG Performance Highlights” and “ESG Topics” chapters in the Sustainability Report, allowing stakeholders to notice the corporate sustainability efforts more quickly. Furthermore, assured by SGS Taiwan Ltd. with AA1000AS Type 2 High Level Assurance since 2017, which demonstrates that the sustainability information maintains a high level of transparency and credibility.
As a model company for corporate governance, Coretronic adheres to the “Corporate Governance Best Practice Principles for TWSE/TPEx Listed Companies” as the guiding framework for its corporate governance operations, establishing a comprehensive internal governance mechanism that enhances information quality and transparency. Additionally, Coretronic has established an Audit Committee, Remuneration Committee, and Nomination Committee to facilitate the Board’s structure and execution. In 2023, Coretronic has honorably earned Asia Responsible Enterprise Awards—“Social Empowerment Award” and “Corporate Governance Award”, and the Company has been ranked in the top 5% among TPEx-listed companies in “Corporate Governance Evaluation” for 10 consecutive years since 2015, won TCSA “Transparency and Integrity Leadership Award” for 7 consecutive years since 2018. Furthermore, it has also been listed in various ESG Indices, such as “TIP TPEx ESG 30 Index”, “TIP TPEx ESG HD TR Index”, “TIP TPEx ESG ML Total Return Index”, “TPEx FactSet Climate Resilience TR Index”, “TPEx Corporate Governance Index”, “TPEx Compensation Index”, and “TPEx Labor Employment 88 Index”, highlighting Coretronic’s dedication and maturity in corporate governance.
To improve organizational climate resilience and align with international initiatives, Coretronic has set its emission reduction targets and methods based on the SBT 1.5°C scenario, committing to “Reduce absolute Scope 1 and 2 GHG emissions 50.4% by 2032 from a 2021 base year, and reduce absolute Scope 3 GHG emissions 30% within the same timeframe”, which have been approved by the SBTi. In 2023, the emissions decreased 42% compared to 2021, significantly exceeding the expected net-zero pathway. In addition, the Company has published “Annual TCFD (Task Force on Climate-Related Financial Disclosures) Report” for two years, and responded to the CDP questionnaire for 5 consecutive years. In 2023, it received the highest rating of A (Leadership Level) in the Supplier Engagement Rating, and B (Management Level) ratings in both Climate Change and Water Security questionnaires. Meanwhile, the Company has joined the “Taiwan Climate Partnership” and the “Taiwan Alliance for Net Zero Emission”. In 2024, the Chairman signed the “RE100 and EV100 Statement”, pledging to achieve 100% electrification of transportation vehicles by 2030 and 100% renewable energy usage by 2040. So far, the Company has installed 8 self-use solar power generation systems and procured renewable energy through green power wheeling and renewable energy certificates. The renewable energy usage rate reached 16% in 2023. Meanwhile, the Company has also built a Product Carbon Footprint Inventory Platform to analyze emission structures, optimize product design, and strengthen the sustainability competitiveness of its products, fully demonstrating the Company’s determination to fulfill its climate commitments.
To create a diverse and inclusive workplace, Coretronic centered its efforts on the “Project-Three-Generation”, focusing on three key pillars: “Connecting Multigenerational Employees”, “Enhancing Composite Employee Experience”, and “Deepening the Competency Academy”, fostering integration and growth across a multigenerational workforce. Through a “vertical five-tier” framework, the Company provided customized training programs tailored to various levels of employees and established the “YuanZe Coretronic Academy” to integrate internal and external resources, thereby enhancing professional skills and competency development. In addition, the Company hires individuals with disabilities in excess of the legal requirement, participates in cross-cultural activities to promote diverse cultural exchange, and dedicates itself to youth empowerment and industry-academia collaboration by offering internships to develop potential talent. Moreover, to enhance productivity and strengthen the inheritance of technical knowledge from senior employees, new hires can adapt and grow quickly through the Mentor system and cross-disciplinary sharing sessions. Coretronic has also established diverse communication channels to actively listen to the voices and suggestions of employees, encouraging them to think innovatively and transform their ideas into drivers of corporate growth. This aims to create a comfortable and sustainable learning environment in the workplace.
In terms of social engagement, Coretronic has joined hands with Firefly Volunteer Team, social enterprises, NPOs, and local universities/communities to implement five major programs since 2011—“Light Wishes for the Rurals”, “Light Pioneer”, “Love Followers”, “Dream Walkers”, and “Elderly Smile”. These projects aim to support disadvantaged groups in the long term by leveraging the Company’s core expertise to solve existing social challenges. To bridge the digital and resource gap between urban and rural areas, Coretronic continues to partner with students from the Department of Electronics and Electrical Engineering at National Yang Ming Chiao Tung University and Papacode to host “Future Light Camp 2.0”. This 6-day programming camp is designed for fourth to sixth graders in rural and suburban elementary schools in Miaoli County. It not only enables children to finish the 7th-grade through the first semester of 8th-grade programming curriculum ahead of time, but also allows them to collaborate with teammates to complete two game programs. Moreover, in response to the growing caregiving need for solitary elderly in Taiwan’s aged society, Coretronic addresses seniors’ needs in supplies, nutrition, and healthcare by initiating three “Elderly Smile” programs—“Warm Delivery”, “Warm Telehealth”, and “Warm Restaurant”. Through partnerships with multiple social enterprises and NPOs, the Company actively tackles the challenges faced by solitary elderly, leverages technology to narrow the healthcare resource gap in rural areas, and strengthens staffing and resources at welfare institutions. Through these efforts, the Company aims to ensure the physical and mental well-being of seniors, support them in enjoying a healthy life, and realize the vision of aging in place.
Coretronic states that, upholding its sustainability DNA of “utilizing light to illuminate the economy and society; creating a green environment that ensures everyone has access to a sustainable and bright future,” the Company will gradually implement a series of net-zero initiatives aligned with the net-zero pathway, ultimately realizing the vision of “25% emissions reduction by 2025, 50% emissions reduction by 2032, and net-zero emissions by 2050.” At the same time, in response to pressing social issues, Coretronic has planned and jointly executed long-term social engagement projects with stakeholders, comprehensively strengthening and expanding the Company’s sustainability competitiveness and influence, and working hand in hand with stakeholders to create a sustainable future.
