Chunghwa has once again been awarded the prestigious Jade Award for the third consecutive year, by internationally renowned financial magazine, The Asset, in its 2023 ESG Corporate Awards. The Jade Award represents the highest accolade; furthermore, Chunghwa Telecom remains the sole Taiwanese corporation to distinguish itself for three consecutive years across international and cross-industry assessments, showcasing remarkable ESG efforts and earning international acclaim for its corporate governance. This achievement follows Chunghwa Telecom's recent recognition, having secured three major awards at the 2023 Frost & Sullivan Best Practices Awards, again securing prestigious international media professional accolades.
The Asset ESG Corporate Awards, widely esteemed in Asia, leverages insights from institutional investors and industry analysts. Each year, a professional judging panel comprehensively evaluates various aspects of Asian publicly-listed companies, including financial performance, corporate governance, social responsibility, environmental responsibility, and investor relations. The awards recognize companies demonstrating outstanding ESG achievements and transparency. This year, five Asian enterprises have received the highest distinction of the Jade Award, with Chunghwa Telecom being the sole Taiwanese corporation to secure this honor for three consecutive years.
Chief Financial Officer Yu-Shen Chen, attending the awards ceremony, stated that Chunghwa Telecom is committed to its "Transformation × 5G × Sustainability" strategy, in response to heightened ESG awareness, global climate change, and post-pandemic challenges. To drive sustainable transformation, the company is increasing the linkage of senior executive compensation to ESG performance, aiming to reach 30% by 2025, up from 10% in 2022. In August, the Company elevated sustainability oversight to the board level, establishing the Sustainable Development and Strategy Committee, highlighting its strong ESG commitment. Additionally, Chunghwa Telecom has launched an internal carbon fee fund integrated with financial reporting to encourage internal innovation in carbon reduction technology, with plans to commercialize carbon reduction technology products for customer solutions. This resolve to internalize ESG has garnered praise from international investors.
Chunghwa Telecom embraces a technology-for-good (Tech4Good) approach, promoting digital empowerment for diverse communities. They focus on expanding internet access, supporting rural students, and providing smart home applications for seniors. Additionally, the company is dedicated to creating a family-friendly workplace with superior benefits, including 16 classes across 9 workplace childcare centers in Taiwan's six major cities and flexible policies, such as reduced daily working hours for employees caring for children under 3 and extended paternity and maternity leave.
As for environmental sustainability, Chunghwa Telecom is committed to achieve 100% renewable energy usage by 2040 (RE100). Chunghwa has verified science-based carbon reduction targets (SBTi), intending to cut greenhouse gas emissions in Scope 1 and Scope 2 by half compared to 2020 levels by 2030 and strives for net-zero emissions by 2050. Additionally, the company is collaborating on energy-efficient Innovative Optical and Wireless Networks (IOWN) and implementing C-RAN data centers to reduce electricity consumption. Chunghwa Telecom is also actively planning renewable energy procurement and partnering with 35 key suppliers to drive low-carbon transformation in its supply chain and reduce Scope 3 emissions..
Chairman Shui-Yi Kuo emphasized that sustainability is at the core of Chunghwa Telecom's mission as an enabler of the digital ecosystem. He expressed pride in the company's third consecutive recognition by international media and investors for its ESG efforts. Moving forward, Chunghwa Telecom is committed to fostering mutual prosperity with the environment, society, and stakeholders, advancing towards a sustainable vision of "green, low-carbon, digital empowerment, integrity, and transparency."
