To implement the specific measures defined by the Corporate Governance Roadmap, Taiwan Stock Exchange (TWSE) has made comprehensive amendments to its Corporate Social Responsibility Best Practice Principles for TWSE/GTSM-Listed Companies and the Ethical Corporate Management Best Practice Principles for TWSE/GTSM-Listed Companies, providing guidelines that meet both the practical needs of enterprises and priorities for international development. This will help companies to establish an emphasis on integrity and sustainable corporate culture.

TWSE’s Ethical Corporate Management Best Practice Principles and Corporate Social Responsibility Best Practice Principles were announced and implemented in 2010. Their purpose was to provide listed companies with a framework which they could actively implement CSR and establish ethical corporate culture. To modernize their underlying principles and set a benchmark for leading practices, TWSE has been referring to internationally adopted CSR practices as well asdevelopment trends on anti-corruption. TWSE has also been consulting with various experts to make further amendments to these principles.
 
For Corporate Social Responsibility Best Practice Principles, the amendments focus on enhancing product safety and environmental protection measures while increasing the transparency of information related to governance, the economy, environment and society as well as issues such as protecting interests of stakeholders. In terms of “Ethical Corporate Management Best Practice Principles for TWSE/GTSM-Listed Companies,” the TWSE not only improves protection for whistleblowers but also expands the scope of “ethical corporate management.” Aside from fighting corruption and preventing frauds, these principles also emphasize the protection of trade secrets and prohibiting unfair competition.
Considering how Taiwan’s recent food safety scandals have greatly impacted consumer confidence and the economy, the revision on these two sets of principles incorporated requirements on supply chain management. Companies are required to develop supply chain management policies and sign contracts to ensure that procurement practices comply with ethical corporate management principles and to protect the interest of consumers.
 
TWSE emphasizes that listed companies should refer to the newly amended principles, and update or amend the companies’ own codes of practice accordingly. Companies should review and improve existing policies and processes, and implement the updated principles into their day-to-day operation so that these companies can fulfill their corporate social responsibilities and create a culture that emphasizes ethical management.