In recognition of its contribution to sustainable development, TECO Electric & Machinery has been selected as a constituent stock of FTSE4Good TIP Taiwan ESG Index (F4G TIP TW ESG Index, in short), for which it was granted a certificate for proprietary corporate mark on April 16. Sophia Chiu, TECO chairperson, pointed out that for years, TECO has been actively fulfilling corporate social responsibilities and seeking sustainable development, conforming to an all-round development which addresses environment, society, and corporate governance (ESG), so as to lead suppliers in forging a green supply chain. The index is compiled by Taiwan Index Plus Corp. and FTSE International Limited jointly, with constituent stocks being selected from constituent Taiwanese stocks of FTSE4Good Emerging Index with good financial standing.
TECO Honored With Four Sustainability Awards
TECO Electric & Machinery Co., Ltd. has won the honor of Taiwan Corporate Sustainability Awards 2018, in acknowledgement of its long-term dedication to the fulfillment of corporate social responsibilities and quest for materializing the concept of sustainable development. TECO was granted the awards in four categories, including platinum award for Top 50 reports in the corporate sustainability category, Top 50 corporate sustainability award in the general performance category, social harmony award, and transparency and integrity award, both in the single-item performance category. Throughout product life, from development, production, to waste disposal, TECO has taken into account energy conservation, emission reduction, and cut on waste in energy and resources, listing environmental sustainability as the foremost objective. TECO, for instance, started to sell high-efficiency, energy-conserving motors in 2017, having helped customers cut power consumption by 606 million kilowatts/hour annually and reduce 335,800 metric tons in emission, in addition to achieving, in conjunction with the use of inverters, over 35% saving in power consumption for industrial motors. In process, TECO has installed energy management system in production lines at factories and rooftop PV power system at its Guanyin factory in Taoyuan City, via its own PV power technological team, paving the way for the development green energy business.
Top 5% performance for corporate governance
For the fifth straight year, TECO Electric & Machinery Co., Ltd. has been granted the honor of top 5% performance for corporate governance among the companies listed on Taiwan's stock market for 2018 by Taiwan Stock Exchange. During the awards ceremony, Sophia Chiu, TECO chairman, pointed out that the company will continue to better its corporate governance, in line with its concept of sustainable development, so as to rack up a good business performance amid a rigorous international economy and bring investing public optimal benefits. TECO is one of the only 13 companies, as well as the only one in the electric and machinery category, which have managed to retain the honor for five consecutive years, a difficult task, given the adjustment of evaluation criteria every year.