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Sustainable Governance at Taiwan Sugar

      Sustained profitability is not only a necessary prerequisite for sustainable business operations, it is also the foundation for an enterprise to fulfill its corporate social responsibility. Taiwan Sugar Corporation is a state-owned enterprise and operates mainly in the sugar industry. In recent years, the external environment has undergone rapid changes, resulting in active business diversification. Currently, there are many expansion projects, including food manufacturing, seedlings and flower cultivation, tourist hotels, retail sales, and biotechnology food. Strengthening corporate governance, upholding integrity management, continuing innovation research, focusing on product safety and complying with relevant regulations are all necessary conditions for creating the economic performance of sustained profitability.


Management Approach of TSC’s Sustainable Governance
Corresponding material topics Integrity Management, Customer Privacy, Socioeconomic Compliance, Corporate Governance, Environmental Compliance, Innovative Research, Economic Performance
Policy
  • Strengthening product and marketing capabilities (Economic Performance, Innovative Research, Marketing and Labeling)
  • Strengthening corporate governance (Integrity Management, Customer Privacy, Socioeconomic Compliance, Environmental Compliance)
Commitments and goals Short-term goals (within 3 years):
  1. To implement the responsibility center system and execute objective management
  2. To complete the pre-planning of TSC’s transformation strategy
 
Medium and long-term goals (3 to 7 years):
1. To increase investment in resources and continue to strengthen the operation of health-care and leisure-related businesses (biotech and leisure activities) for gradual operating revenue growth year by year
2. To protect shareholders' rights, strengthen the functions of the board of directors, bring out the functions of a functional committee, respect the interests of stakeholders, and ensure sustainable development of the company with integrity management
3. To focus on health-oriented core technologies and products, increase resource input, and strengthen brand marketing
4. To combine new agriculture and make use of biotechnology to research and develop non-toxic, non-polluting, high value-added and healthy products 
5. To comply with relevant environmental laws and regulations
6. To complete the implementation of the content of TSC’s transformation project 
Responsible units
  • Business Development Promotion Group of the Corporate Sustainable Development Committee
  • Department of Planning
  • Department of Secretariat
  • Department of Property Management
  • Investment Business Division
  • Quality Management Committee
  • Food Factory Inspection Group
Input resources
  • A training course of sustainable development report was held with a total of 40 participants. 
  • A keynote speech on Corporate Sustainable Development was held with a total of 80 participants. 
  • In charge of costs for holding training courses related to corporate governance for directors.
  • NTD 1,134,734 thousand for the improvement and expansion of fixed assets construction.
  • NTD2,874,036 thousand for marketing costs.
  • NTD 186,129 thousand for research and development (NTD 12,906 thousand for the purchase and construction of fixed assets, and NTD 173,223 thousand for expenditure)
  • Investing in five innovative R&D projects, including R&D of the ready-to-eat food (pig ears, knuckles and pigskin) products, comparison of the economic benefits of the commercial porcine circovirus vaccines, improvement of the feed conversion rate (FCR) of nursery pigs, discussion on the effects of feeding female pigs probiotics before and after delivery on the traits of piglets, and the trial of black pig grazing in Silin Livestock Farm, with a total budget of NTD 4,708 thousand.
Grievance mechanism Audit Committee Mailbox, the Corruption Report Channel of TSC’s Department of Ethics, Customer Service Hotline, Customer Service Email Box, TSC Facebook Fan Page
Management System and Action
  • Future Business Strategy, Responsibility Center System, Internal Control System, Practice Principles for Corporate Sustainable Development, Guidelines for Risk Assessment, Guidelines for Reinvestment Projects, Guidelines for Investment, Guidelines for Evaluation of Appointed Concurrent Directors and Supervisors (committee members) of Investment Business and Corporation, Guidelines for Endorsements
  • Code of Ethical Conduct, Guidelines for Risk Assessment, Code of Practice for Corporate Governance, Practice Principles for Corporate Sustainable Development, Audit Committee Charter, Guidelines for the Process of Preparing Financial Statements, Guidelines for Board of Directors Performance Evaluation, and Study Plan for Directors
  • Research and Development Committee Charter, Guidelines for Intellectual Property Rights, Guidelines for Research Project Management, Guidelines for Technology Transfer and Authorization, Guidelines for R&D Records and Document, Guidelines for Laboratory Safety and Use, Guidelines for Greenhouse Management, Taiwan Intellectual Property Management System (TIPS) 
  • Guidelines for Quality Management of Products Manufactured by Entrusted Manufacturers, Guidelines for TSC’s Product Development, Guidelines for Product (merchandise) Recalling and Recycling, Food Safety Traceability Management System, After-sales Service and Customer Complaint Processing Procedures, Guidelines for Quality Execution, ISO 22000 Food Safety Management System, HACCP, ISO 9001 Quality Management System
Assessment management mechanism Internal Control System, TSC Performance Assessment System, Corporate Sustainable Development Committee Work Plan and Implementation Review Meeting

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