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Introduction to ESG

The concept of "sustainable development" was put forward in "Our Common Future" published by the United Nations in 1987, and "sustainable development" was defined as: " development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” In 2004, the United Nations released the "WHO CARES WINS" report, which proposed that a better consideration of environmental, social and governance (ESG) factors will ultimately contribute to stronger and more resilient investment markets, as well as contribute to the sustainable development of societies. In 2006, the United Nations published the Principles for Responsible Investment (PRI), which encourages institutional investors to incorporate ESG considerations into their investment decision-making processes.

In 2010, the “Corporate Social Responsibility Best Practice Principles for TWSE/TPEX Listed Companies” were released to the capital markets in Taiwan to provide guidance in CSR implementation for domestic businesses. In 2020, the Financial Supervisory Commission has officially launched the “Corporate Governance 3.0 - Sustainable Development Roadmap” to deepen Taiwan corporate governance and promote sustainable corporate development. In 2021,in accordance with the roadmap, the title of “Corporate Social Responsibility Best Practice Principles for TWSE/TPEX Listed Companies” was revised to "Sustainable Development Best Practice Principles for TWSE/TPEx Listed Companies", and the provisions were amended to strengthen the sustainable development of enterprises and strengthen the international competitiveness of Taiwan's capital markets.