Local securities companies and asset management firms would be required to consider the environmental, social and corporate governance (ESG) of the companies they plan to invest in or help issue shares for, the Financial Supervisory Commission (FSC) said yesterday.
Stock underwriters also need to evaluate the ESG performance of the firms ahead of initial public offerings (IPOs), while the Taiwan Stock Exchange (TWSE) and the Taipei Exchange would take ESG into account when reviewing IPO applications, Securities and Futures Bureau Deputy Director Sam Chang (張振山) told a news conference in Taipei.
The requirements would apply to asset management companies, regardless of whether
Hon Hai Precision Industry Co (鴻海精密) is to put environmental, social and corporate governance (ESG) considerations into each employee’s key performance indicators, Hon Hai chairman Young Liu (劉揚偉) said at a forum for sustainable finance and climate change yesterday.
In addition, the company would earmark 1 percent of its research and development budget to ESG initiatives, Liu said.
Hon Hai’s research and development budget is about NT$200 billion (US$7.2 billion) annually, meaning the ESG budget would be about NT$2 billion per year.
ESG would be an integral part of Hon Hai’s strategy going forward, Liu said, adding that climate change is the most
From left, Simple Mart Retail Co general manager Chiu Kuang-lung, Mercuries Group founder George Wong, Simple Mart chairman Chen Hsiang-fen, Taiwan Stock Exchange president Chien Lih-chung and other guests pose for a photograph at the Taiwan Stock Exchange yesterday to celebrate Simple Mart’s listing on the main board. The company, which operates supermarket chain Simple Mart, plans to increase the number of its outlets from 800 to 1,300 by 2023, Chiu said. The company’s stock yesterday closed at NT$84 in Taipei trading, 21.74 percent above the NT$69 per share for its initial public offering.