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CHIMEI e-commerce App
Getting the latest and most complete information about various materials through the CHIMEI e-commerce APP,CHIMEI can not only provide the high performance materials to our partners, but also be the most powerful digital support!
Communication with Stakeholders
CHIMEI values the opinions of all stakeholders. Through establishing diverse communication channels, we actively understand the major issues of concern to stakeholders and incorporate this information into our sustainable development blueprint. We refers to the AA1000 Stakeholder Engagement Standard and defines major stakeholders, including employees, customers, suppliers, investors, financial institution, government, communities/non-profit organizations, media, and trade associations.
Communication Channels
Employees
- Provide diverse communication channels with privacy concerns.
- Establish Occupational Safety and Health Committee.
- Hold a forum for our newcomers.
Customers
- Provide diverse communication channels to meet customer expectations.
- Annually invite customers and suppliers from all over the world to participate in the partner reunion.
Suppliers
- Encourage suppliers to implement EHS and carbon reduction policy.
- Conduct regular on-site audits and annual evaluations, and commend outstanding suppliers.
- Require suppliers to sign relevant documents to identify high-risk suppliers.
Investors
- Regularly publish financial and business information on Market Observation Post System and CHIMEI official website to all investors in real time.
- Annually convene shareholders meeting to disclose material information.
Financial Institution
- Convene regular meetings to explain operating performance and sustainability actions to a group of banks.
- Timely update key events of business through meetings or emails.
Government
- Comply with the requirements of the competent authorities.
- Receive government agencies to visit CHIMEI Green Energy Park and exchange information on ESG issues.
Communities/Non-profit organizations
- Maintain good interactions with communities and NPOs through emails, phone calls or in-person interviews.
- Participate in various charity activities.
Media
- Provide press releases, annual reports, and arrange spokesperson interviews to meet social expectations.
Trade associations
- Participate in various public associations and technical exchange seminars.
- Integrate with the international standards and solidify the foundation of industrial cooperation.
Material Topics
ENVIRONMENT
SOCIAL
GOVERNANCE
Identify and Prioritize
For evaluating material topics, we used international sustainability standards such as the GRI Standards (Global Report Initiative) and conducted quantitative assessments through questionnaire for Stakeholders. This measured the concern and impact significance of various topics, prioritizing results statistically, and resulting in the matrix diagram of material topics. After discussions by the CHIMEI Sustainability Office and the Sustainability Committee Work Team, the topics of "Greenhouse Gas Emissions," noted for significant materiality, "Information Security," recognized for high negative impacts, and "Talent Attraction and Development," aligned with long-term operational strategy goals, were included. As a result, 10 material topics encompassing the E, S, and G dimensions were identified, including 2 environmental topics, 2 social topics, and 6 economic topics. Among these, "Ethical Corporate Management" and "Policies and Legal Compliance," " Energy Conservation and Carbon Reduction" and "Greenhouse Gas Emissions" were managed jointly. After discussions and reviews by the Sustainability Office, Sustainability Committee Work Team, and external consultants, the relevance of the material topics was confirmed and approved by the highest governance body. These topics are covered in the 2023 Sustainability Report, showcasing CHIMEI Group's policies and performance results.
STEP 1 Impact Assessment
- Focusing on international sustainability standards and regulations (GRI Standards, SASB, SDGs, TCFD, EcoVadis, UN Global Compact), issues from industrial chain partners, peers, stakeholders and internal development goals, the Sustainability Office and the Sustainability Committee Work Team collaboratively discussed and compiled 22 ESG issues.
- We collected opinions on the degree of concern from stakeholders through the "Stakeholder Concern Questionnaire," receiving a total of 1,143 completed questionnaires.
- We conducted an impact assessment through the "Stakeholder Materiality Questionnaire" completed by senior managers and colleagues involved in sustainability efforts, collecting a total of 69 completed questionnaires.
STEP 2 Material Topics Identification
- After analyzing the results from the "Stakeholder Concern Questionnaire" and the "Stakeholder Materiality Questionnaire," the topics were ranked according to the quantified values.
- We entrusted external consultants to jointly review and verify the appropriateness of the identified material topics and threshold standards. Then, the Sustainability Office and the Sustainability Committee Work Team adjusted the material topics to ensure they were complete, inclusive, comprehensive, and aligned with our sustainability strategy.
- In 2023, a total of 10 material topics were identified.
STEP 3 Material Topics Confirmation
- Confirmed by senior management and approved by the highest governance body.
- In the 2023 Sustainability Report, we disclosed the impacts of each material topic and our company's corresponding policy commitments, management approaches, targets, and relevant performance.
Matrix of Material Topics
- Environment
- Social
- Governance
- Material Topics
Impact of Material Topics
1
Ethical Corporate Management
Good ethical corporate management can enhance Chimei's transparency and trustworthiness, attract investors and partners, and promote sustainable business development and growth.
A lack of ethical corporate management can result in financial opacity, poor decision-making, and increased ethical risks. This may lead to investors and consumers losing trust in Chimei, which could impact the stability of business operations.Policies and Legal Compliance
Complying with policies and regulations ensures that the company operates within a legal framework, thereby reducing potential fines and legal liabilities.Illegal acts may damage brand reputation, decrease consumer trust in products or services, and consequently affect market position and sales.2
Energy Conservation and Carbon Reduction, Greenhouse Gas Emissions
Actively investing in energy-saving and carbon-reduction measures while increasing the usage of renewable energy can reduce the carbon footprint of business operations and enhance overall operational efficiency.Extreme weather can raise operational costs. Companies without carbon reduction measures may face high carbon taxes or fees and lose their competitive edge in global supply chains.3
Corporate Sustainability Responsibility
Following the visions of sustainable management and responsibility will allow CHIMEI to operate over the long term and make more contributions to society.Without defining corporate sustainability responsibilities and visions, a company may face challenges in maintaining its image and credibility, and in engaging with the international sustainable market.4
Risk Management
Effective risk management can help organizations allocate resources more appropriately, optimize business processes, gain a competitive advantage, reduce unnecessary costs, and create more value.Improper risk management can hinder emergency responses and cause unexpected operational losses. Conversely, excessive focus on risks may lead to conservatism and missed opportunities for innovation.5
Occupational Health and Safety Management
Effective occupational health and safety measures can reduce workplace accidents and diseases, boost employees' health awareness, and enhance productivity.Neglecting occupational health and safety can lead to more workplace accidents, harm employees' health, incur penalties, cause production delays, and impact productivity, profitability, and reputation.6
Sustainable Supply Chain
Implementing supply chain management improves the overall quality of the supply chain, fostering mutual prosperity with supplier partners, enhancing company profitability, and achieving the goal of sustainable operations.Ineffective supplier management can lead to issues such as disruptions in raw material supply or suppliers not adhering to regulations, potentially causing product safety, human rights, and environmental problems, thereby affecting the company's image and reputation.7
Information Security
Effective information security measures can protect corporate assets and critical technologies, ensuring the stable operation of systems, reducing failures and downtime, and thereby improving business efficiency.Inadequate information security can cause leaks of sensitive data, financial losses, legal issues, and reputational harm. Serious incidents like malware attacks or system failures can disrupt operations and lead to revenue losses.8
Talent Attraction and Development
Talent attraction and development are crucial to the growth of a company. Companies with excellent talent are seen as attractive employers, which helps enhance brand reputation, attract more top talent and customers, increase employee loyalty and satisfaction, reduce turnover rates, and improve productivity and performance.A lack of talent attraction can lead to labor shortages, skill gaps, low work efficiency, and poor team morale, harming the company's competitiveness and long-term development.Upstream: Petrochemical industry, refers to suppliers and contractors. CHIMEI: CHIMEI Group, including employees and investors. Downstream: Plastics and rubber industry, refers to customers.
Questionnaire of Material Topics for Stakeholders
CHIMEI publishes sustainability reports annually to disclose the goals and performance of material topics. In order to align the concerns of stakeholders and communicate effectively, we sincerely invite you to fill in “Questionnaire of Material Topics for Stakeholders.” The results will help us understand the materiality of every topics, form the information disclosure in sustainability reports, and become the key reference of our sustainability policies and goals. (We collect the valuable opinions of our stakeholders during the first quarter of each year.)
About CHIMEI
CHIMEI is a Taiwan-based performance materials company that designs and manufactures advanced polymer materials, synthetic rubbers, and specialty chemicals.
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