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Corporate Sustainability Management
Governance Structure and Reporting Mechanisms
WPG established "WPG Corporate Sustainability Committee" in 2015 to implement corporate sustainability business and policies; even established the position of Chief Sustainability Officer as a commitment to strengthening ESG sustainable management oriented actions and tasks; aiming to continuously enhance the sustainable competitiveness of the enterprises and integrate the concepts of ESG into business strategies. Thus, the original " WPG Corporate Sustainability Committee " was reorganized and renamed in February 2022 as “WPG ESG and Sustainable Development Committee (hereinafter referred to as the Sustainability Committee), as the highest governance body for the sustainable governance of WPG Holdings; with the Chief Sustainability Officer as the chairman of the committee. The members include the Chairman and the CEO of the Holdings, and an independent director to effectively develop the plans of the overall sustainability goals of the Group, carry out major topics, and report to the Board of Directors regularly (at least once a year). Under the committee, setting up an ESG Office, which is responsible for the planning and promotion of the sustainable development affairs of WPG Holdings, as well as tracking the result of the implementation, establishing a continuous improvement plan, and reporting to the Sustainability Committee quarterly.
Five functional groups are established under the Sustainability Committee, which are the "Corporate Governance Group", "Environmental Sustainability Group", "Sustainable Talent Group", "Social Participation Group" and "Supply Chain Group". The top-level managers of relevant functional units are in charge of promoting various projects or measures to respond to diverse major topics. The concerned topics of each functional group are as follows, and related matters are regularly discussed.
Chief Sustainability Officer and members of the ESG Office periodically proposes sustainability related plans and updates progress to the Board of Directors. The Board of Directors evaluates the plans, monitors the progress and provides feedback accordingly.
In 2022, the proposal was submitted to the Board of Directors 3 times, including (1)To identify material topics and propose action plan and (2)To approve sustainability-related policy amendments; the Board of Directors regularly reviews ESG-related reports and (3)Greenhouse gas inventory and verification progress report and follow-up work plan.
Stakeholder Identication and Communication
Identifying precisely each stakeholder’s concerning topics and continuing to communicate with the stakeholders with transparency and efficiency are the foundations for the sustainable operation and long-term development of WPG Holdings. Through a systematic approach, WPG Holdings identified the stakeholders related to operations, then understood the topics concerned by the stakeholders with a high degree of relevance, and evaluated the impact of topics on internal operations and the economy, environment, and society. Thus, WPG Holdings identified the main sustainability topics, disclosed information in this sustainability report, and responded to the stakeholders who were considerably concerned about the topics. At the same time, we continued to enhance the management of relevant topics and take specific actions to implement the Company's commitment to sustainable management.
- Importance of Stakeholders to WPG Holdings
The six major stakeholders identified below are all highly related to the operation and business of WPG Holdings. The aspects that WPG Holdings is concerned about and their importance to WPG Holdings are explained as follows:
- Analysis of Material Topics
WPG Holdings regularly identifies major sustainability topics through systematic analysis to ensure that the disclosed information meets stakeholders' expectations. In 2021, WPG proposed a list of sustainability topics with reference to the analysis of past topics, themes of GRI Standards, international trends, and industrial characteristics, etc. The Sustainability Committee invites the Chairman and CXOs of each group to assess the operational impact and major risks. Relevant opinions are integrated, the materiality matrix was completed in 2021, and 8 main topics were selected based on the “Level of Stakeholders’ Concern for the Topic" and the "Level of importance of topics to WPG Holdings' operations", which includes Operating and Financial Performance, Risk Control and Management, Corporate Governance, Product Distributorship and Customer Satisfaction, Talent Attraction and Retention, Technological Empowerment and Digital Transformation, Smart logistics and Smart warehousing, Information Security and Data Privacy.
To ensure that the main topics analyzed in 2021 can accurately reflect the topics and expectations of the stakeholders, the methods and steps for identifying the main topics are as follows:
- Amendment of the Main Topics
Compared with the 20 sustainable topics of the previous year, in 2021, WPG Holdings modified the details, merged, split, and changed the names in terms of economic, environmental, and social topics, and a total of 18 sustainable and operational-related topics have been compiled. The reasons for the adjustment are as follows:
Stakeholder Communication Mechanism
Corporate Sustainable Development Goals
WPG Holdings strongly believes that enterprises should not only pursue profit maximization, but also actively implements various strategies to maximize overall societal value, starting from our core business, in compliance with the UN’s Sustainable Development Goals (SDGs) with sustainable strategies. This year, WPG Holdings evaluated potential sustainable contributions through 8 main topics, and concentrated on 6 UN’s Sustainable Development Goals: