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▶️Climate Change Strategy and Management
Climate-Related Financial Disclosures (TCFD)
In the face of the global warming crisis, as a global corporate citizen, WPG Holdings supports and responds to the Paris Agreement, striving to reduce greenhouse gas emissions and setting a vision for low-carbon sustainable development. We are committed to minimizing the impact of our operations on the ecological environment and consider compliance with laws and regulations as a basic requirement. No incidences of major environmental law violations occurred in 2022.
Starting from 2020, WPG Holdings has made reference to recommendations on climate change-related financial disclosures issued by the Task Force on Climate-Related Financial Disclosures (TCFD) of the Financial Stability Board (FSB) of the United Nations and conducted the current situation analysis, climate risk and opportunity identification, and scenario analysis of climate change-related financial disclosures, which are described in the following four scopes:
1.Governance
On climate issues, the Board of Directors of WPG Holdings is the highest supervisory unit to coordinate the Company's overall climate strategy and oversee the implementation of climate-related risk management by relevant units. There are five functional groups under the Sustainability Committee, with the Chief Sustainability Officer as the convener responsible for managing and overseeing the implementation of relevant climate risks and opportunities. The convener of the Sustainability Committee also reports regularly (at least once a year) to the Board of Directors on the progress of corporate sustainability promotion, including the implementation results and future planning of climate-related issues.
2.Strategy
With reference to the TCFD guidelines, we identify the climate change risks and opportunities of WPG Holdings through workshop discussions and assessments of climate related issues, supplemented by the analysis and recommendations of external consultants. The impact period of climate risk is divided into short-term (1~3 years), mid-term (3~10 years), and long-term (more than 10 years).
- Climate-Related Risks
- Climate-Related Opportunities
- Climate Change Management Policy and Response Actions
In response to the key risks and opportunities caused by climate change, WPG Holdings has established the following management plans to address the issues of low-carbon operations and promotion of green value chain:
- Climate Change Scenario Analysis
3.Risk Management
The climate change risk management process has been integrated into general risk management, see 2-2-2 for more information. Through risk identification, six major risks, including environmental risks, are defined. The company has also established an operational disruption emergency response procedure that covers natural disasters, earthquakes, and other emergencies. This includes the establishment of a Crisis and Emergency Decision Center and the implementation of a Call Tree crisis reporting mechanism. When emergencies such as natural disasters or major crises occur, the relevant response procedures can be activated, ensuring effective risk management measures are in place.
4.Metrics and Targets
In order to implement sustainable management and achieve the Group's declared goal of net zero emissions, WPG Holdings conducts annual greenhouse gas inventories and further verifies the credibility and consistency of emission data through third-party verification and will continue to expand the scope of greenhouse gas inventories and verification, as well as publicly disclose relevant content of climate-related financial disclosures. In 2022, the scope of the inventory included the main operation offices and self-owned warehouse greenhouse gas emissions in Taiwan and China, as well as obtaining ISO 14064: 2018 greenhouse gas inventory declaration.