Corporate Governance

Far Eastern New Century Corporation (FENC) established the “Sustainability Committee” on November 12^th, 2020. The Sustainability Committee actively fulfills 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. The second and third meeting of the second session was held on April 21^st and October 14^th, 2022.

The fourth and fifth meeting of the second session was held on April 25^th and October 24^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, initiate internal carbon pricing, expand renewable energy, 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, execute environmental education curriculum, promote sustainable supply chain program, utilize multiple channels of stakeholder engagement to strengthen the relationships, engage with community through diverse ESG activities, upgrade the digital platform for ESG information collection, 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 the Board Meeting on May 11^th and November 10^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)	The fifth meeting of the second session (October 24th, 2023)	Attendance Rate (%)
(Convener) Independent Director, Johnsee Lee	V	V	V	V	V	100%
Independent Director, Raymond R. M. Tai	V	V	V	V	V	100%
Non-executive Director, Kuan-Tao Li	V	V	V	V	V	100%

Last Update：December 4^th, 20233

Download