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 convenor, and one external Board member.
The three committee members are well equipped with the knowledge and expertise in corporate sustainability, including the operation of corporate governance and non-profit organizations, protection of employee rights, corporate risk management and strategic planning.
To enhance sustainability governance at FENC, the Sustainability Committee meeting, which was an annual occurrence, became a semi-annual meeting in 2022. During the reporting year, the meetings were held on April 25 and October 24. Humphrey Cheng, President of Corporate Management, presented the implementation progress, report, project and performance to the three committee members. Specifically, the presentation covered the publishing of FENC’s Sustainability Report and its first Task Force on Climate-related Financial Disclosures (TCFD) Report; identification of stakeholders and material topics; implementation of GHG inventory and verification; enactment of internal carbon pricing; deployment of multiple renewable energy sources; ongoing expansion of green products and applications; promotion of sustainable financing products; enhancement of human rights policy and human rights due diligence; strengthening of information security management; implementation of environmental education programs; promotion of sustainable supply chain; stakeholder engagement through diverse means. All resolutions were approved unanimously by the attending members. Johnsee Lee, FENC’s independent Board member and convenor of the Sustainability Committee, presented the outcome to the Board on May 11 and November 10.
FENC’s audit units conducted audits over the operation of the Sustainability Committee in 2023 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.
