Response to Climate Change
In recent years, frequent disasters caused by climate change have prompted Formosa Laboratories to proactively respond to climate disasters and prevent related financial losses. the Company will adopt the climate-related financial disclosure recommendations formulated by the Task Force on Climaterelated Financial Disclosures (TCFD), which was established by the Financial Stability Board (FSB) in 2015. The Company will voluntarily disclose its response policies and preventive measures in the face of climate-related risks, appropriately disclose the financial impact caused by these risks, and identify opportunities to ensure profitability and enhance the Company's climate resilience after proper climate adaptation and disaster recovery, in order to cope with subsequent climate disasters.
▼Management of material topic "Response to climate change" at Formosa Laboratories in 2024
Four Pillars of the TCFD Recommendations
▼Components of climate-related financial disclosures
Financial Impact of Climate-related Risks and Opportunities
Formosa Laboratories evaluates climate risks and opportunities by analyzing their impact level and likelihood of occurrence. Specifically, impact level is categorized into high, moderate, and low, while likelihood is categorized into unlikely, somewhat likely, and highly likely. This process aims to identify and analyze moderate- and high-risk items and ultimately develop appropriate response measures to address these risks.
▼Financial Impact of Climate-related risks and corresponding response actions
▼Financial Impact of Climate-related opportunities and corresponding response actions
▼ISO 14067:2018 verification statement for Sevelamer Carbonate “F.L.”
▼Product Environmental Footprint Exemplary Manufacturer Award from the Industrial Development Administration under the Ministry of Economic Affairs
Net-zero and Low-carbon Transition Vision
Formosa Laboratories has been conducting greenhouse gas inventories since 2021 in line with the government's 2050 net-zero transition policy and global carbon reduction trends. After collecting information on the organization's carbon emissions using the methodology specified in the latest ISO 14064-1:2018 standards in 2022, Formosa Laboratories has gradually developed its sustainable development pathway and established short-, medium-, and long-term targets to address climate risks. This enables us to continuously review energy policies and develop relevant rules and regulations.
