To recognize institutional investors for implementing stewardship practices and their commitment to enhancing the quality of stewardship disclosures, the Taiwan Stock Exchange Corporation (TWSE) will hold the 2025 Awards Ceremony for the List of Institutions with Better Stewardship Disclosure on March 25, 2026. The ceremony will honor institutional investors ranked in the top 25% of the evaluation, with the aim of further strengthening their emphasis on stewardship, encouraging proactive pursuit of information transparency and disclosure quality, and promoting benchmarking and healthy competition. Deputy Director General Chung-Hao Huang of the Securities and Futures Bureau, Financial Supervisory Commission, will be invited to deliver remarks and present the awards, and representatives from the competent authority and members of the Stewardship Principles Advisory Committee will also be invited to attend.

The TWSE stated that this year’s evaluation criteria comprise 30 indicators across two dimensions: the first, “Policies and Statement of Compliance,” and the second, “Practices and Disclosure.” The first dimension assesses the completeness of disclosures on stewardship policies, conflict of interest policies, and voting policies; the second covers elements of stewardship reports, implementation of engagement cases, and voting records, providing a comprehensive assessment of how institutional investors practice stewardship. The evaluation results were announced on December 31, 2025. Compared with the previous round, overall scores improved markedly, increasing by approximately 5.6%, and the number of institutions scoring above 80 rose by 11 from the prior year. This demonstrates a higher level of emphasis on stewardship among domestic institutional investors. The evaluation indicators for the List of Institutions with Better Stewardship Disclosure are reviewed annually, and are continuously refined in line with domestic regulatory amendments, policy priorities, and international developments.

To further encourage institutional investors to focus on enterprises’ medium- to long-term value and to deepen the implementation of stewardship and engagement, the TWSE has arranged, following the awards ceremony, a keynote session on Introduction to the Corporate Value Enhancement Plan and on Stewardship and Investor Relations Practice. Through explanations of the relevant mechanisms and sharing of practical experience, these sessions aim to help institutional investors keep abreast of the latest policy directions and market development trends, and to strengthen their focus on, and capacity for dialogue on, corporate strategy, financial planning, and sustainability issues during engagement, thereby further enhancing the overall governance quality of the capital market.

While promoting stewardship, the TWSE has also actively advanced the Corporate Value Enhancement Plan and issued the Corporate Value Enhancement Plan Disclosure Guidelines, encouraging enterprises to conduct analyses of their current status based on indicators such as total shareholder return (TSR), weighted average cost of capital (WACC), profitability, and market valuation, and to propose concrete policies and short-, medium-, and long-term targets for underperforming items and key development priorities. This is intended to optimize plan content, help investors understand corporate development strategies, and foster a virtuous cycle of long-term value creation.