Organization Framework of Sustainable Governance
FENC established the Sustainability Committee under the Board on November 12, 2020 to oversee the implementation of sustainable development policies, systems and management approaches. The Committee reports to the Board on a regular basis.
FENC’s Sustainability Committee headed into its second year in 2021 and members of the Board were appointed to serve on the committee on July 29, including two independent Board members, one of whom served as the convener, and one external Board member. The three committee members are well qualified for the positions and duties, including corporate governance, management of non-profit organizations, protection of employee rights, corporate risk control and strategic planning. The first meeting was held in October 21.
To strengthen sustainable governance at FENC, the Sustainability Committee meetings were modified from an annual occurrence to a semi-annual meeting in 2022. During the reporting year, the meetings were held on April 21 and October 14. Humphrey Cheng, President of Corporate Management, presented the implementation progress, report, project and performance to the three committee members. Specific subjects presented included FENC’s Sustainability Report; enhancement of climate-related financial disclosure; strengthening of human rights risk management; development of sustainable financing products; refinement of circular economy and low-carbon production; promotion of GHG inventory and verification; social engagement and projects. All resolutions were approved unanimously by the attending members. Johnsee Lee, FENC’s independent Board member and convener of the Sustainability Committee, presented the outcome to the Board on May 10 and November 9.
FENC’s audit units conducted audits over the operation of the Sustainability Committee in 2022 based on the Sustainability Committee Charter. The audit confirmed that there were no wrongdoings of any kind concerning the committee members, duties, convening of meetings as well as rules of procedure.