Sustainable Development Organizational Structure
For the purpose of promoting sustainable transformation and strengthening corporate governance performance, the Company's Board of Directors approved the establishment of the Sustainable Development Committee in December 2021, as the core organization to promote sustainable development. The Sustainable Development Committee is chaired by the Chairman. Under the Committee are the Executive Committee and six working groups consisting of corporate governance, sustainable procurement, information security, employee relations and social engagement, green innovation, sustainable environment, and OSH. Heads of related units at manager level or above shall be appointed as team leaders. In order to implement the corporate sustainable development strategy, each team has established ESG promotion indicators based on their delegated responsibility. They review the implementation effectiveness of each ESG promotion indicator through meetings, and formulate follow-up work goals and future plans for continuous improvement to achieve the Company's sustainable development vision.
The Sustainable Development Committee of the Company takes corporate sustainable development as the highest guiding principle, and holds a meeting at least once every six months to review the Company's sustainable business strategy, formulate an ESG strategic goal implementation plan, and track and review the Company's sustainable development implementation and effectiveness. It also regularly reports the annual sustainability implementation results and key major issues to the board of directors, communicates with directors on key major events, and uses the relevant evaluation and implementation results as the basis for the board of directors to implement supervision and management. The Sustainable Development Committee held two meetings in 2022 and reported the implementation status to the Board of Directors. The key proposals included the review report and communication on epidemic prevention measures in response to Covid-19, the carbon inventory in 2021 and product carbon footprint of the Company's first Sustainability Report in 2023. For other key events, please refer to the Company's Material Information.
Sustainable Vision and Strategy
With the vision of "Becoming an intelligent green manufacturing and service center for grinding solutions" and the mission of "creating sustainable value for the industry and customers through excellence," the Company has upheld the business philosophy of “Good to You, Good to Me, and Good to All". We strive to satisfy customers' grinding needs, pay attention to shareholders' equity, improve employee well-being, and improve business performance to give back to the society. Based on cross-departmental integration to be carbon neutral in 2050, the Company proactively moves towards the goal of low-carbon operation. In addition, to shape the corporate sustainability culture, the Company has formulated six strategic pillars of “Persistence in Innovation Excellence, Practice Sustainable Procurement, Environmental-Friendly Operations, Joint Cultivation of Diverse Talents, Engagement in Social Welfare, and Ethical Corporate Governance" as its business direction. We are committed to fulfilling the Sustainable Development Goals (SDGs) proposed by the United Nations.
