TECO Wins Commonwealth Magazine's Top ESG Sustainability Award in the Traditional Industry Category with Highest Honors

Today (6th), at the 21st Commonwealth Corporate Sustainability Awards ceremony, TECO Electric & Machinery Co. was honored with the highest award in the "Comprehensive Performance Category - Traditional Industry." Participating for the first time, the Company received high recognition for its outstanding performance in environmental, social, and corporate governance aspects, demonstrating the solid results of its commitment to sustainable business practices. President Kao Fei-yuan, who attended the award ceremony, stated, "For TECO, sustainability is not an additional task, but the core of our business operations." He also emphasized that this award is a testament to the collective efforts of all TECO employees, and the Company will continue to take concrete actions to collaborate with society in creating a better sustainable future.

        After Morris Li, the Chairman of TECO, assumed office, he proposed the vision of "becoming a core driver of global electrification, intelligence, and green energy," embedding sustainability into the core of the Company's operations. On the environmental front, TECO extends its sustainable management efforts from Taiwan to its global operations, aiming to achieve net-zero emissions for the entire group by 2050. The Company actively promotes carbon reduction in factories and the greening of equipment, continuously enhancing revenue related to sustainability. Currently, low-carbon product sales account for as much as 73.8%. An internal carbon pricing system has also been introduced, set at NT$1,600 per ton, and an "internal carbon fund" has been established to support low-carbon innovation and development, balancing both performance and sustainable development. Additionally, the construction of renewable energy facilities is being accelerated, with the U.S. and China set to complete 5.3MW solar installations in 2024, bringing the total global installed capacity to over 15MW. The Company continues to strive towards the goal of having 30% of total electricity consumption come from renewable energy by 2030.

        As of the aspect of social, TECO places great importance on partnerships with stakeholders and supports community feedback and talent development through the TECO Technology Foundation. The foundation's "Net-Zero Carbon Technology International Competition" attracted nearly a thousand international teachers and students from 13 countries last year, further expanding TECO's global impact on sustainability. As of the aspect of governance, TECO's board has established a "Corporate Governance and Sustainability Committee," where the senior management team timely grasps trends and risks, enhancing strategic layout and decision-making resilience to create maximum synergy. Based on these achievements, TECO has been consistently recognized in international sustainability evaluations, being selected for the Dow Jones Sustainability Index (DJSI) Emerging Markets Index for five consecutive years and ranking first in ESG evaluations among electromechanical stocks in emerging markets. It has also been included in the S&P Global Sustainability Yearbook five times, placing it among the global top 1% of sustainable enterprises, demonstrating TECO's leadership in sustainable governance and international competitiveness.

        TECO stated that the Company follows the "B(B-Business) 2B(B-Business) 2S(S- Sustainability)" concept to promote ESG practices: starting from the enterprise itself (Business), focusing on key sustainability issues, strengthening low-carbon circular operation thinking, while optimizing employee well-being and enhancing transparency of governance information. Further, it collaborates with customers and suppliers (Business) to create sustainable synergies in the low-carbon value chain. Ultimately, it aims to achieve a positive impact on society, continuously promoting low-carbon transformation, while expanding sustainable influence and economic momentum through forward-looking social investment and talent development, assisting the overall society toward a net-zero future (Sustainability). Looking forward, TECO will continue to advance green transformation and deepen its global presence and business development, taking concrete actions to build a new net-zero sustainable future together.