Stakeholder identification and communication are the foundation of corporate sustainable development. Taiflex engages in ongoing communication with various stakeholders through diverse channels, and regularly reports the results of these communications to our Board of Directors (results of 2023 were reported in the Board meeting on January 25, 2024). We listen to the voices of our stakeholders and adopt their opinions, needs and expectations as reference for operational decisions. We aim to create and share maximum benefits with stakeholders.

Stakeholder identification

Through internal discussions with department heads, incorporation of external expert opinions, and reference to industry peers, the Company's Sustainable Development Committee analyzed stakeholder groups that may be positively or negatively impacted by the Company's operational activities, and adopted the AA1000 SES Stakeholder Engagement Standards for assessment and ranking. We identified eight major stakeholder groups, including customers, suppliers/contractors, shareholders and other investors, employees, government agencies, financial institutions, academic and research institutions and society (including local communities, neighboring factories and social welfare organizations).

Stakeholder communication

The Company takes a proactive approach to stakeholder communication by using a variety of channels such as annual reports, official websites, relevant meetings, EHR platform (Taiflex Forum) , employee suggestion boxes, customer service, ESG questionnaires, emails and official correspondences to understand the issues and matters of concern to stakeholders. Through coordination and communication among the management team, we determine the approach to handle the issues based on internal processes and past experiences with stakeholders. The decision-making process considers the nature, sensitivity, and impact of the issues to provide timely and appropriate responses and actions.