TECO Included in DJSI-Emerging Markets for 2nd Straight Year
TECO Electric & Machinery has been included, as the only electromechanical company worldwide, in 2021 DJSI-Emerging Markets for the second year in a row.
TECO ranked among top 8% of 39 firms in the field participating in the evaluation, winning full mark for "innovative management" and "talent cultivation," in acknowledgment of its remarkable performance in social co-prosperity and corporate governance.
TECO has made major advancement on climate-change issue in recent years, including attaining 20% carbon reduction goal in five years, only half the original 10-year schedule, production of high-efficiency motors and green-energy home appliances, attaining 496 kWh power saving and 305,000 tons of emission reduction a year, production high-performance, energy-saving motor IE3 + IE4 accounting for over 70% of sales in 2020, as well as green home appliances with over 50% share in sales, and landing of general engineering contracts for on-shore substations for offshore wind power for three years running, with the accumulated total reaching 2 GW, the highest among domestic firms in the field. Sophia Chiu, TECO chairman, points out that these figures manifest TECO's solid foundation for sustainable development, covering the entire operating flow, from product design, production, to sales. The company will begin to execute "sustainable KPIs (key performance indicators)" system this year, in the hope of attaining the company's ultimate goal of "carbon neutrality" in the shortest time possible and materializing the corporate vision of "energy conservation, emission reduction, intelligence, and automation."
As the most credible evaluation index for corporate sustainability, DJSI selects enterprises from several thousand candidates worldwide with top10% performance in the aspects of economy, society, and environment, while constituents stocks of DJSI-Emerging Markets are selected from 800 enterprises as targets for ESG (environment, social, governance)-oriented investments. With the acknowledgement for its effort, TECO reported that it will continue leading its supply-chain partners in striving for clean energy on the world market.