The FSC Plans to Amend Article 10 of the “Regulations Governing Information to Be Published in Annual Reports of Public Companies” and Articles 32 and 39 of the “Regulations Governing Information to Be Published in Public Offering and Issuance Prospectuses”
2022-08-04
To realize the goals of assisting enterprises in achieving the government's 2050 net zero carbon emission target and urging listed and OTC companies to set their carbon reduction targets as soon as possible, greenhouse gas inventory has become the top priority of enterprises. The FSC issued the "Roadmap for Sustainable Development of Companies" on March 3, 2022 to promote the disclosure of greenhouse gas inventory information of TWSE and TPEx listed companies in stages.
In addition, in view of the growing international concern about climate change related information, the FSC has planned to require companies that meet certain conditions to disclose climate related information, and will amend the “Regulations Governing Information to Be Published in Annual Reports of Public Companies” and the “Regulations Governing Information to Be Published in Public Offering and Issuance Prospectuses”, with the key points of the amendments as follows:
I. Amending Articles and Adding Schedules: Item 5, Subparagraph 4, Paragraph 1, Article 10 of the Annual Report Regulation and Subparagraph 5, Paragraph 1, Article 32 of the Prospectus Regulation are amended to require companies that meet certain conditions to disclose climate related information, and the "Climate Related Information of TWSE and TPEx Listed Companies" is added to Schedule 2-2-3 of the Annual Report regulations and Schedule 63-1 of the Prospectus regulations to facilitate companies to disclose climate related information.
II. Applicable Objects: Climate information will be fully applicable to TWSE and TPEx listed companies starting in 2024. As for greenhouse gas related climate information, the mandatory disclosure of category 1 and category 2 inventory and affirmation will be implemented in stages starting in 2024 according to the capital size and industry.
III. Setting a Buffer Period: Considering that enterprises still need to collect relevant information and build inventory capabilities in the initial stage of promotion, a one-year buffer period will be given to enterprises. The "Climate Related Information of TWSE and TPEx Listed Companies" of Schedule 2-2-3 of the Annual Report regulations and Schedule 63-1 of the Prospectus regulations will be implemented starting in January 1, 2024.
To guide TWSE and TPEx listed companies to disclose climate related information, the FSC has requested the TWSE and the TPEx to set up an advisory group with an advisory window, responsible for consultation on greenhouse gas inventory and verification of related information disclosure and declaration issues. In addition, the FSC has held a number of physical and online publicity meetings, and set up a special area of "Roadmap for Sustainable Development of TWSE and TPEx Listed Companies" on the website of the Corporate Governance Center to provide resources such as guidance and counseling on laws, regulations, and inventory (for more information, please visit the following website: https://cgc.twse.com.tw/responsibilityRoadMap/listCh).
The FSC said that in addition to being published in the official gazette of the Executive Yuan, the general description of the draft amendments and a comparison table of the amended articles will be published on the FSC website. If you have any comments, please visit the “Advance Notice of Draft Regulations” on the website “Supervisory Regulations Inquiry System” of the FSC (URL: http://law.fsc.gov.tw/) and state your comments or contact the Securities and Futures Bureau of the FSC within 60 days from the date of the announcement.
Contact Unit: Section Chief Hsieh Yi-Wen, Corporate Finance Division , Securities and Futures Bureau
Tel: (02) 2774-7100
For any questions, please write to:FSCmail
In addition, in view of the growing international concern about climate change related information, the FSC has planned to require companies that meet certain conditions to disclose climate related information, and will amend the “Regulations Governing Information to Be Published in Annual Reports of Public Companies” and the “Regulations Governing Information to Be Published in Public Offering and Issuance Prospectuses”, with the key points of the amendments as follows:
I. Amending Articles and Adding Schedules: Item 5, Subparagraph 4, Paragraph 1, Article 10 of the Annual Report Regulation and Subparagraph 5, Paragraph 1, Article 32 of the Prospectus Regulation are amended to require companies that meet certain conditions to disclose climate related information, and the "Climate Related Information of TWSE and TPEx Listed Companies" is added to Schedule 2-2-3 of the Annual Report regulations and Schedule 63-1 of the Prospectus regulations to facilitate companies to disclose climate related information.
II. Applicable Objects: Climate information will be fully applicable to TWSE and TPEx listed companies starting in 2024. As for greenhouse gas related climate information, the mandatory disclosure of category 1 and category 2 inventory and affirmation will be implemented in stages starting in 2024 according to the capital size and industry.
III. Setting a Buffer Period: Considering that enterprises still need to collect relevant information and build inventory capabilities in the initial stage of promotion, a one-year buffer period will be given to enterprises. The "Climate Related Information of TWSE and TPEx Listed Companies" of Schedule 2-2-3 of the Annual Report regulations and Schedule 63-1 of the Prospectus regulations will be implemented starting in January 1, 2024.
To guide TWSE and TPEx listed companies to disclose climate related information, the FSC has requested the TWSE and the TPEx to set up an advisory group with an advisory window, responsible for consultation on greenhouse gas inventory and verification of related information disclosure and declaration issues. In addition, the FSC has held a number of physical and online publicity meetings, and set up a special area of "Roadmap for Sustainable Development of TWSE and TPEx Listed Companies" on the website of the Corporate Governance Center to provide resources such as guidance and counseling on laws, regulations, and inventory (for more information, please visit the following website: https://cgc.twse.com.tw/responsibilityRoadMap/listCh).
The FSC said that in addition to being published in the official gazette of the Executive Yuan, the general description of the draft amendments and a comparison table of the amended articles will be published on the FSC website. If you have any comments, please visit the “Advance Notice of Draft Regulations” on the website “Supervisory Regulations Inquiry System” of the FSC (URL: http://law.fsc.gov.tw/) and state your comments or contact the Securities and Futures Bureau of the FSC within 60 days from the date of the announcement.
Contact Unit: Section Chief Hsieh Yi-Wen, Corporate Finance Division , Securities and Futures Bureau
Tel: (02) 2774-7100
For any questions, please write to:FSCmail
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Update：
2022-08-25