Press ReleasesLatest News

Taiwan Stock Exchange to Extend Compulsory CSR Reporting to Companies with Common Stock of No Less Than NT$5 Billion from 2017

Publish time:2015-10-20

TAIPEI, 20 October 2015 – The Taiwan Stock Exchange Corporation (TWSE) has announced amendments to the “Taiwan Stock Exchange Corporation Rules Governing the Preparation and Filing of Corporate Social Responsibility Reports by TWSE Listed Companies” that will require listed companies with common stock equal to or greater than NT$5 billion and below NT$10 billion to prepare and file Corporate Social Responsibility (CSR) reports.
 
The new amendments will extend TWSE’s current reporting requirements, under which CSR reporting is mandatory for companies with common stock of more than NT$10 billion. CSR reporting is also currently mandatory for listed companies in the food, financial, and chemical industries, as well as for listed companies where food and beverage sales account for more than 50% of total annual revenue.
 
As non-financial disclosures including CSR and environmental, social and corporate governance (ESG) becoming increasingly important to global investors, TWSE has been taking proactive steps to improve reporting standards in Taiwan while also accounting for factors such as cost-efficiency and the time needed for listed companies to adapt to mandatory reporting requirements.
 
The new amendments will come into force in 2017 and will cover annual reports for the 2016 financial year. Companies reporting accumulated losses will be exempt from the new amendments until 2019. An additional 80-listed companies are expected to file CSR reports by 2017 as the result of the new amendments, adding to the 170-listed companies currently required to file CSR reports.
 
Companies to which the new amendments apply have more than one year to prepare for the new requirements and are expected to plan ahead. These companies can refer to the latest Sustainability Reporting Guidelines (GRI G4) published by the Global Reporting Initiatives (GRI), as well as Sector Guidance and other applicable guidelines relevant to their business sector. Companies should also      seek to identify and engage with all relevant stakeholders and adjust their internal controls to ensure that all ESG data is fully and accurately collected and disclosed.