Corporate Governance

Far Eastern New Century Corporation (FENC) established the “Sustainability Committee” on November 12^th, 2020. Sustainability Committee actively fulfill the following responsibilities granted by the board of directors:

1. Promote and strengthen the corporate governance and integrity;
2. Implement and develop matters related to corporate sustainable development;
3. Supervise other matters related to corporate sustainable development approved by the Board.

FENC has established the Sustainability Implementation Committee and 3 dedicated personnel in the Sustainability Team to jointly integrate internal resources to achieve four goals: Exercise corporate governance; Foster a sustainable environment; Preserve public welfare; and Enhance disclosure of corporate sustainable development information. They regularly report the implementation of sustainable development initiatives and projects to the Sustainability Committee.

Committee Operation

The second Committee members were elected by the Board of Directors on July 29^th, 2021. Three members have expertise in sustainable development, including corporate governance operation, non-profit organization management, employee rights care, corporate risk management, corporate business strategy planning, etc., that meet the professional competence required by the committee fields. The first meeting of the second session was held on October 21^st, 2021.

FENC held the meetings twice in 2022. The second and third meeting of the second session was held on April 21^st and October 14^th, 2022. Humphrey Cheng, the President of Corporate Management, represents the Convener of Sustainability Implementation Committee, reported to the three members of the sustainable development progress and execution of ESG projects and performance, including: publish 2021 sustainability report (Chinese and English version), strengthen TCFD disclosure, enhance human right risk management, develop sustainable financial products, establish the operational procedure for preparation and validation of the sustainability report, and include this procedure in its internal control system, build a digital platform for ESG information collection, fully develop the circular economy, transform low-carbon manufacturing and green production towards net zero emissions, develop climate change mitigation and Eco-friendly products, fully promote GHG inventory and verification, engage in 2022 ESG summit and exhibition, develop social engagement program, promote sustainable supply chain courses, raise awareness of sustainability among employees, create a safe workplace under the pandemic, etc. All resolutions were approved by all members presented and the Convener of the Sustainability Committee, Independent Director Johnsee Lee, reported to all the Directors presented on Board Meeting on May 10^th and November 9^th , 2022.

The fourth meeting of the second session was held on April 25^th, 2023. Humphrey Cheng, the President of Corporate Management, represents the Convener of Sustainability Implementation Committee, reported to the three members of the sustainable development progress and execution of ESG projects and performance, including: publish 2022 sustainability report (Chinese and English version), publish the first TCFD report, implement identification of stakeholders and material topics, implement GHG inventory and verification, establish GHG reduction goals and action plan, develop wide array of circular product applications, promote sustainable financial products, enhance Human Rights Policy and human rights due diligence project, improve information security management mechanism, participate in the Occupational Health and Safety Development Program of the Ministry of Labor to promote sustainable development, promote environmental education curriculum, utilize multiple channels of stakeholder engagement to strengthen the relationships, etc. All resolutions were approved by all members presented and the Convener of the Sustainability Committee, Independent Director Johnsee Lee, reported to all the Directors presented on Board Meeting on May 11^th , 2023.

Members	The first meeting of the second session (April 10th, 2021)	The second meeting of the second session (April 21st, 2022)	The third meeting of the second session (October 14th, 2022)	The fourth meeting of the second session (April 25th, 2023)	Attendance Rate (%)
(Convener) Independent Director, Johnsee Lee	V	V	V	V	100%
Independent Director, Raymond R. M. Tai	V	V	V	V	100%
Non-executive Director, Kuan-Tao Li	V	V	V	V	100%

Last Update：May 12^th, 2023

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