TECO Covered by S&P Global Sustainability Yearbook for 3rd Straight Year
For the third year in a row, TECO Electric & Machinery has been included in the 2023 Sustainability Yearbook, published by S&P Global, thanks to its remarkable performance in the three items of innovative management, talent cultivation, and supply-chain management in 2022, outshining peers in emerging markets.
The outstanding performance results from the company's dedication to emission reduction, including assistance for supply-chain partners to conduct greenhouse-gas emission inventory, in the hope of helping them grasp basic carbon-emission data and establish emission-reduction capability, thereby facilitating the setup of a sustainable supply chain and marching toward the vision of zero emission.
In talent cultivation, TECO launched an online learning platform in 2022, to continue employee training and education during the pandemic. To form a complete corporate sustainability culture, the company will initiate an internal carbon-price system this year, so that all the employees can give carbon emission priority consideration in their operation, investing in equipment and daily-work renovation for the sake of emission reduction, making energy conservation and emission reduction part and parcel of the corporate culture, and thus creating an ESG (environment, social, government)-friendly environment.
In recent years, TECO has forayed into the green-power market aggressively, including installation of rooftop PV devices for its factories in Wuxi, China, Malaysia, Singapore, and Zhongli and Guanyin in Taiwan, with total capacity expected to top 4 million kilowatts/hour this year. Last year, the company landed a turnkey contract for the 60 MW Lungtan energy storage system of state-run Taiwan Power Company, the latter's largest such project ever. Backed by the experience from such projects, plus its energy management system, TECO is poised to step into the power management market in the future.
In order to attain the 10-year target of 50% emission reduction by 2030, TECO will kick off emission reduction plan at all of its production bases worldwide,with the corporate vision of "energy conservation, emissions reduction, intelligence, and automation."