2022 TCFD Report

In recent years, the phenomenon of climate warming caused by greenhouse gas emissions has posed significant risks to the global economy, thereby impacting numerous enterprises. However, investors have perennially grappled with identifying companies that are susceptible to climate-related risks, those that have undertaken sufficient preparedness measures, and those that are actively taking remedial actions. Consequently, the Financial Stability Board (FSB) established a specialized task force known as the Task Force on Climate-Related Financial Disclosures (TCFD). Over a span of 18 months, this task force diligently sought input from prominent figures in the commercial and financial sectors. In June 2017, they successfully completed the "Recommendations of the Task Force on Climate-Related Financial Disclosures," which expound on comprehensive disclosure mechanisms for addressing the risks and opportunities arising from climate change. These recommendations aim to furnish enterprises and investors with a robust framework that can be effectively integrated into financial reporting practices.

In line with prevailing international trends, Formosa Petrochemical Corporation (hereinafter referred to as Formosa Petrochemical) endeavors to align its practices with the recommendations put forth by the TCFD. By disclosing the risks and opportunities stemming from climate change, the Company aims to underscore its commitment and strategies while assuming due responsibility. Through this approach, Formosa Petrochemical seeks to prudently and efficiently allocate resources, ultimately realizing its vision of transitioning toward a low-carbon economy.