According to the 2022 Dow Jones Sustainability Index, TECO Electric & Machinery Co., Ltd. (1504-TW) has ranked first for three years in a row in the electrical machinery stocks in the global emerging market. The evaluated categories areas include risk management, innovation management, environmental policy, climate change management, and talent management, where TECO has won great reviews and surpassed many famous international competitors. TECO chairman Sophia Chiu said the achievement came from the sustainable operation of TECO and that standing out in the highly competitive DJSI motivated TECO to keep aiming high and be committed to reducing carbon emissions by 30% by 2030, with an end goal of zero carbon emissions.
TECO has long been committed to optimizing all aspects of ESG. Last year, the company set up an ESG office to promote all kinds of projects on sustainability. For supply chains, TECO has four main production centers: Taiwan, India, the US, and China, serving as a coping strategy for climate change and changing geopolitics. To seize business opportunities, TECO is actively involved in the energy storage system and energy transition industry. Every year, TECO high-efficiency motors (IE3 & IE4) and green energy appliances can save up to 697 million kWh of electricity for clients. Socially, under the impact of the pandemic, TECO has implemented online learning and training platforms for employees to learn continuously. To improve sustainable data management, TECO will implement internal carbon pricing next year. This measure aims to motivate all employees to prioritize carbon emissions. The company can invest the carbon reduction costs on equipment renewals and everyday work to ensure the energy-saving and carbon-reducing concepts are deeply rooted in the company culture. Besides, TECO has started actions on supply chain carbon reduction, helping small and medium businesses to conduct GHG emissions inventories despite their limited resources. The company hopes Taiwanese small and medium businesses can manage basic carbon reduction data and establish the capacity for emission reduction, carrying out the goals of energy saving and emission reduction and building a sustainable supply chain.
TECO's sustainability ideas and achievements have been well-recognized at home and abroad. This year, TECO has won numerous recognitions, such as being included in the S&P Global sustainability yearbook, winning the Taiwan Sustainability Action Awards nine years in a row, and remaining in the top 5% of the Corporate Governance Evaluation eight years in a row.