Global economic and social developments have been severely challenged by extreme weather, pandemics, and trade conflicts in recent years. As the world's largest technology manufacturing service provider and a member of society, we continue to make environmental, social, economic contributions while pursuing operational performance and innovations in core technologies. Group operations adhere to our Double-E formula of “Sustainable Management = EPS + ESG,” and we continue to promote green ecosystem cycles, humanoriented care, and smart living while controlling risks and obtaining opportunities to realize sustainable management across the globe.
As a Fortune 500 company with the highest corporate revenues in Taiwan, we continually promote ESG from five aspects which are organizational positioning, international alignment, target setting, audits and verification, and transparent communications as a corporate citizen, through corporate social responsibilities, and by achieving sustainable corporate management as an industry leader.
We formulated 6 ESG strategies which are Green Solutions, Circular Economy, Employee Satisfaction, Win-Win Strategy, Group Sustainability, and Corporate Governance and 32 long-term targets in 2022 to serve as a cornerstone for consolidation with our core capabilities and provide clear indicators for adherence across the entire Group to enhance environmental sustainability, social participation, and corporate governance.
We emphasize development of green solutions and actively invest in electric vehicle (EV) and energy storage systems, building an open EV platform (MIH) with technical specifications available to all partners to form an EV ecosystem with hardware and software components, reducing R&D barriers and accelerating progress in the EV industry. Our goal is to decrease speed time to market and lower costs for ecofriendly EVs to provide better accessibility and environmental contributions.
The Group aligns with international trends in the face of increasingly severe climate issues. We support the Climate Action 100+ initiative, committed to a net zero emissions target by 2050, participated in CDP, and have submitted an application for the SBTi 1.5°C target. We became a founding member of the Taiwan Alliance for Net Zero Emission and pledged to achieve net zero emissions in our offices in Taiwan by 2030 and in our production bases by 2050. We further implemented the Task Force on Climate-related Financial Disclosures (TCFD) framework and issued a TCFD Net Zero Vision Report to disclose our efforts in achieving net zero emissions.
The Group attaches great importance to employee issues, and nine of our long-term targets are directly related to employee interests. We have clear indicators for talent selection, utilization, retention, and cultivation, as well as rigorous standards for employee health and safety that enhance employee satisfaction. The Group shares the burden of employee childcare through the “Childcare Subsidies for 0 to 6 Year-Olds” and achieved a postpartum reinstatement rate of 90%. In terms of social welfare, we donated vaccines following the spread of the pandemic last year and prioritized vaccination for our employees in different regions. We co-organized AI camps for rural junior high schools to cultivate next-generation talent and bridge urban-rural gaps in technology education. We also recently formed a volunteer club, enabling more of our employees to participate in social welfare activities.
For corporate governance, we established a Nomination Committee under the Board this year and nominated five independent directors (more than half of Board members) for Board re-election; the number of female directors was increased from one to two. We also established information security and anti-corruption measures to protect our corporate interests. We also incorporated our suppliers in our long-term ESG goals and plan to track supplier performance on green products, environmental protection, use of renewable energies, carbon management, zero waste to landfill operations, and other CSR aspects.
We followed our F1.0, F2.0, and F3.0 strategic path for transformation to new industries and focused on ESG investments, working with our supply chain and other major enterprises to achieve smart, green, and eco-friendly actions, as well as establish responsible manufacturing standards and win-win strategies. We understand that our revenues are built on the efforts of our employees, the contributions from our supply chain partners, the trust of our clients, and the support of the general public. Corporate sustainability is a long and hard road, but we strongly believe that our solid capabilities enable us to lead all employees, supply chain partners, and industry peers in continued investments for environmental sustainability, social participation, and corporate governance, creating unlimited possibilities for the future.
