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Financial Supervisory Commission Successfully Hosted the 13th Taipei Corporate Governance Forum in the Form of a Video Conference

The Financial Supervisory Commission (FSC) hosted the 13th Taipei Corporate Governance Forum in the form of a video conference on September 1st. Dr. Tien-Mu Huang, Chairman of the FSC, opened the forum. Ms. Janine Guillot, CEO of Value Reporting Foundation gave a keynote speech. Participants of this forum included representatives from directors, supervisors, and general managers of listed companies, securities and financial companies, as well as officials from relevant government units, representatives of academic research units who promote corporate governance and the media. Nearly 4,000 people participated which was a big success.

In the opening address, Chairman Huang mentioned that this year is a very special year. The Taipei Corporate Governance Forum was held in the form of a video conference, hoping to break geographical restrictions during the epidemic prevention period and demonstrate the effectiveness of our country's corporate governance. With robust corporate governance in line with the latest international trends, the FSC has successively launched the "Green Finance Action Plan 2.0", "Corporate Governance 3.0-Sustainable Development Roadmap" and "Capital Market Roadmap" to promote development of domestic financial and capital markets. Chairman Huang hoped that through the information exchanges and experience sharing from the participants of this forum, companies would understand the new international trend of ESG development, and further facilitate corporate governance and enhance the sustainable development of the companies.

Ms. Janine Guillot, CEO of Value Reporting Foundation gave a keynote speech on “Sustainability and Enterprise Value: delivering 21st century corporate governance.” Ms. Janine Guillot mentioned that this year is the 13th time that the FSC has organized the Taipei Corporate Governance Forum. This demonstrated the FSC’s commitment to leading companies in the long-term development of corporate governance, and was committed to strengthening corporate information transparency, and actively strengthening corporate governance in line with international standards. In promoting the development of sustainable finance, the roles of competent authorities and market participants were equally important, requiring long-term and comprehensive integration of strategic resources from all parties to comply with the SASB standards for information disclosure. She hoped that companies could integrate the value of sustainable finance into the company culture, and produce financial reports that are more beneficial to investors and of better quality through integrated thinking.

The forum invited Mr. Clark C. Chen, Chairman of Taiwan Corporate Governance Association; Mr. Niven Huang, Managing Director of KPMG Sustainability Consulting Co., Ltd., and Ms. Sophia Cheng, Chief Investment Officer of Cathay Financial Holdings to be the moderators for the three seminars. The topics were“How the board of directors promote ESG strategy performance”, “Developing diversified sustainable products” and “Enhance transparency, facilitate sustainable operation”. In the first seminar on “How the board of directors promote ESG strategy performance”, Mr. Jesse Chou, Chief Sustainability Officer of Delta Electronics, Inc.; Mr. J.J. Liao, Chairman of ECOVE Environment Corporation, and Ms. Eliza Li, Partner, CMAAS, Capital Market and Accounting Advisory Service at PricewaterhouseCoopers Taiwan shared their thoughts on how companies responded to ESG risks; the role of the board of directors in sustainable operations, and how to balance the costs and benefits of ESG as panelists. In addition, through the sharing of industry practical experience, the information on challenges and trends of domestic ESG development in recent years were exchanged. In the second seminar on “Developing diversified sustainable products”, Mr. Mark Liu, Head of Societe Generale Taiwan; Mr. Jeff Chang, Chairman of Securities Investment Trust & Consulting Association; Ms. Li-Ju Liu, Deputy Director General of Bureau of Labor Funds, and Mr. Benjamin Lamberg, Chief Executive Officer, Taipei Branch, Crédit Agricole CIB discussed on sustainable index and sustainable investment trends, current status and prospects of sustainable commodity development as panelists. They shared thoughts on the construction of a more comprehensive green and sustainable financial system, leading companies and investors to pay attention to ESG issues. In the last seminar on “Enhance transparency, facilitate sustainable operation”, Mr. Peter Paul van de Wijs, Chief External Affairs Officer of Global Reporting Initiative (GRI); Mr. Edoardo Gai, Managing Director, Head ESG Benchmarking, S&P Global, and Ms. Helena Fung, Head of Sustainable Investment, APAC, FTSE Russell shared the international trends on ESG information disclosure and provided corporate-related compliance advice to the participants. Furthermore, they emphasized the importance of information transparency to the overall investment ecosystem, and shared valuable views and insights on the promotion of ESG ratings and index performance by international institutions.

The FSC commented that this year's Taipei Corporate Governance Forum was a success and both the number and the involved level of participants were the highest, which showed the commitment of Taiwan competent authorities to corporate governance. The authorities will not only actively develop the system with global standards and promote corporate governance in Taiwan in order to enhance corporate value, but also implement sustainable corporate development to build a robust ESG ecosystem in the future.
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