TECO Granted Sustainability Awards for 10th Straight Year
In acknowledgement of its dedication to sustainability, TECO Electric & Machinery Co., has been granted, for the 10th year in a row, Taiwan Corporate Sustainability Awards (TCSA), in the four major items of "award for 100 Taiwanese corporate sustainability paradigms," "corporate sustainability report platinum awards," "talent development leadership award," and "information security leadership award."
Speaking at the awards ceremony today (Nov. 15), Sophia Chiu, TECO chairman, highlighted the company's sustainability efforts, including 10-year 50% emission reduction by 2030 and corporate transformation into an energy service provider, from a motor seller now, for which the company will step up R&D on and sales of green carbon-abatement related solutions, becoming a key player in clean energy. Moreover, the company will intensify digitalization of the operations of its five major production bases worldwide, along with talent cultivation, in order to retain its competitive edge in the fast changing business environment, thereby creating sustainable value for all the shareholders and stakeholders.
TECO has launched comprehensive emission-reduction project at its production bases worldwide, including installation of PV power generation facilities on factory premises, which led to generation of 1,158 kilowatts/hour of green power, along with 1,002 green-power certificates for participation in the green-power certification trading mechanism, in Taiwan in 2022. Plus rooftop PV power facilities on its other Asian factory premises, self-generated PV power supplied 10% of the group's global power consumption in the year. The share is expected to hit 15% in 2023, following installation of PV power facilities on European factory promises in July, to be followed at the company's factories in America and Australia. The company also launched internal carbon pricing system, at NT$1,600/ton, this year, under which business groups are granted specific emission quota and have to compile annual budget for emission-right payment. TECO will step up effort tapping business opportunities deriving from energy-conversion/conservation and emission-reduction policies of countries worldwide, including provision of electrification solutions, in order to further raise the share of its sustainability-related revenue, which reached 50% in 2022. For that purpose, the company set up energy creation and storage operation business department, aiming to tap business opportunities related to virtual private power plants, in 2023.
The honor of "information security leadership award" manifests TECO's strenuous effort in information security in recent years, in order to assure smooth operation of its five major production bases, in Taiwan, China, Vietnam, India, and North America. The company has put in place a comprehensive rigorous information-security system, including uniform standard information-security protection measures, joint information-security protective network of the group, setup of information security committee, and passage of ISO 27001 certification and TIPS IP management certification. The company's efforts in talent cultivation has also won it "talent cultivation leadership award" this year. In order to push digital transformation, for instance, the company has been holding in-house information-security courses and digital skill competition, on top of launch of 39 digital-transformation projects, of which 11 have attained initial results. TECO noted that given its critical role in corporate development, the company will continue sparing no effort in pushing talent cultivation via plural methods and channels, in order to bringfresh vitality to the company and the industry.