The Financial Supervisory Commission (FSC) released the corporate governance blueprint: "Corporate Governance 3.0-Sustainable Development Roadmap " in 2020, in which the name of the current corporate social responsibility (CSR) report will be officially revised to the "Sustainability Report/ESG Report" at the end of 2021, and encourage companies to publish their English version to strengthen the disclosure of ESG information for listed companies and deepen the culture of sustainable governance of Taiwanese companies.
        In addition, companies that are required to prepare the reports in the future will be further expanded. In addition to listed companies with a capital of more than NT $ 5 billion, the financial industries, the chemical industries, and the food industries, the FSC plans to require listed companies with a paid-in capital of NT$ 2 billion to prepare and file the report from 2023, and expand the scope of third-party assurance for sustainability reporting.
        As international investors and the industrial supply chains are increasingly paying attention to "environmental, social and governance" (ESG) related issues, in order to remind companies to put focuses on ESG-related stakeholder issues, and to provide investors with useful ESG information for investment decision-making. There is no doubt that the FSC attaches great importance to ESG. ESG information is bound to become an important part of the sustainability report in the future.
        In other words, the contents of the ESG Report are nothing more than the environment (for example, given the fact that global warming is increasing, we must save energy and reduce carbon dioxide remissions), society (such as the protection of employee rights), strengthening the duties and functions of boards In terms of corporate governance (such as reasonable remuneration for the management), etc., it is inevitable that the true disclosure of the implementation of the enterprise regarding ESG may be inevitable. In short, ESG is an important issue for the sustainable development of today's enterprises and cannot be ignored.
        The adoption of the corporate social responsibility provision to the Taiwan’s Company Law in 2018 was originated and drafted by Professor Len-Yu Liu serving as a legal expert to the Ministry of Economic Affairs. Under Professor Liu’s prominent expertise and leadership, L&Y Attorneys at Law is ready to serve corporate clients to well implement their corporate social responsibility and specifically provides guidance and analytical reports and suggestions on the three aspects of ESG issues for enterprises.
        With those our missions in mind, we will assist our corporate clients to develop narrowly tailored ESG policies which will well accommodate individual corporate client’s corporate culture, tradition, as well as individual business characteristics and will propose testable, reliable, and comparable quality and quantitative analysis reports, gradually strengthening the connection between Taiwan's enterprises and their social responsibilities, and in the long term to benefit all mankind eventually. We recommend all listed companies to review their current ESG policies and practices and plan for the future by fine tune the sustainability reports of the coming year, and we are always here to serve our corporate clients to accomplish all smoothly and efficiently.