Corporate Social Responsibility

Feng Tay has established Sustainable Manufacturing and Development (SMD) Department at the Group Headquarters to monitor the practices of environment, safety and health (ESH) and employee relations (ER) at subsidiary companies. At the Headquarters, General Affairs and Human Resources departments jointly conduct the corporate social responsibility affairs and respond to the issues of interest to stakeholders on behalf of the highest governance body. The Sustainability Report is reviewed by the Sustainable Development Executive Officer annually, appointed by the highest governance body, to ensure the completeness and credibility of the Sustainability Report. For detailed information of Company's annual achievements in ESG aspects, please refer to the 2023 ESG report.

Organizational Structure of Corporate Sustainability Development

Risk Identification and Response

In 2022, our company established a risk management policy approved by the Board of Directors, clearly defining organizational functions and responsibilities. The scope of risk management and the risk management process were defined based on the overall operating environment of the company. To effectively control risk items, management measures were developed according to the principle of materiality. The Sustainable Development Department conducts annual identification and formulation of response measures for corporate social responsibility affairs such as environmental safety and health, and labor relations, as well as overseeing the management of impacts on the economy, environment, and personnel. The risk assessment covers the Group’s Headquarters and regional subsidiaries (excluding holding and related companies). An independent internal auditing system also regularly checks operational and corporate governance risks, reporting the status to the Board of Directors and the Audit Committee to ensure the normal operation of risk management mechanisms. For more details, please see the Risk Management Policy and the Operation of the Risk Management Policy (in Chinese version).

To implement the investigation, analysis, and identification of risks related to the scope of risk management, as well as to address risks associated with global economic, financial, environmental, and operational factors, our company compiles past experiences and forecasts potential future risks. Based on various dimensions such as corporate, financial, information technology, operations, human resources, and external factors, we categorize the risks of our enterprise. These include, but are not limited to, the following items:

The Sustainable Development Department annually identifies significant ESG risks and opportunities that may impact the company's operations, financial performance, or corporate reputation based on the principle of materiality. Based on the assessed risks, relevant risk management policies or strategies are formulated. The primary significant risk management policies and strategies identified in 2023 are as follows: