TECO Remains a Constituent Stock of "Taiwan Sustainability Index"
In acknowledgement of its quest for sustainable development, TECO Electric & Machinery has been selected, for the second year in a row, as a constituent stock of Taiwan's sustainability index FTSE4Good TIP Taiwan ESG Index.
Sophia Chiu, TECO chairman, remarks that the company's efforts in sustainable development has also won it golden award of TOP50 CSR Report for six consecutive years, pointing to the company's pledge of cutting emission by 20% in 10 years and rollout of "employee public-service account," as well as the corporate vision of "energy conservation, emission reduction, intelligence, and automation."
Taiwan Index Plus Corp. notes that based on the ESG (environmental, social, and governance) evaluation system of FTSE Russell, FTSE4Good TIP Taiwan ESG Index has selected constituent stocks. according to the input and performance TWSE-listed companies in ESG. With 66 constituent stocks now, the index boasts over NT$40 billion of assets with linkage to it, making it the largest ESG index in Taiwan.
Thanks to its high regard for sustainability concept, TECO has also hit the top 5% list in corporate governance evaluation among TWSE-listed companies for sixth straight year. It has been pushing green-energy business vigorously in recent years and has set a goal of 80% share for energy-saving products in its sales. Moreover, it has made major inroads into green power, including offshore wind power, electric-car power train, and PV power. It has not only installed rooftop solar panels on its factories, totaling 3.6 MW in capacity, but also set up PV power system and energy storage system on Pohnpei island of Micronesia.