Stakeholder Engagement

TCC values the opinions of its stakeholders, actively communicating and engaging with regard to material sustainability issues, which are incorporated in the corporate sustainable development blueprint. In line with the nature of the industry and with reference to the GRI Standards, SASB Standards, and Dow Jones Sustainability Index (DJSI) as well as AA1000 Stakeholder Engagement Standard, it employs the five principles, i.e. Responsibility, Influence, Tension, Diverse Perspectives, and Dependency in the identification and ordering of stakeholder significance.

The results of the latest stakeholder engagement and its related plans were discussed at the interdepartmental meeting of the Corporate Sustainability Development Committee in November 8th, 2023. The discussion result was reported to the Board of Directors in November 10th, 2023. The mechanism of communication and reporting will be conducted at least twice each year. The result of the latest stakeholder engagement and the discussion topics are as below:

Assessment Process for Stakeholders and Material Topics
Assessment Process for Stakeholders and Material Topics

Sustainability Dialogues with Stakeholders
Pursuant to the AA1000 Stakeholder Engagement Standard (SES), TCC employs the five principles, i.e. Responsibility, Influence, Tension, Diverse Perspectives, and Dependency in the identification and the ordering of stakeholder significance as follows: government agencies, clients, employees, local communities, shareholders/investors, environmental groups/NGOs, the media, industry associations/industrial and academic entities, suppliers/contractors, and sustainability associations.

Identification of Sustainability Issues
TCC conducts sustainability issue identification every other year. The “Double Materiality” analysis principle is adopted this year. In accordance with the GRI Universal Standards 2021, with reference to the international trends of sustainable development, international sustainability ratings(e.g. MSCI, S&P CSA and CDP), sustainability disclosure standards, industry characteristics, and benchmark corporate practices, TCC compiled a list of sustainability issues of survey. Through the double materiality analysis, a total of 8 material sustainability topics were identified, including “climate actions and net-zero emissions,” “resource co-processing,” “green energy and energy storage,” “R&D innovation,” “sustainable products and services,” “biodiversity,” “legal compliance,” and “workplace health and safety.” Meanwhile, considering that “pollution control and management” and “water resources management” have a higher negative impact on the economy, environment, people and human rights, and are the focuses in the industry disclosure of various sustainability disclosure standards, both are also included in the material sustainability topics this year. A total of 12 material sustainability topics were identified for TCC in 2023. The identification result was adopted by the Board of Directors. Also, the development and achievement on these material sustainability topics are linked to the executive remuneration.

Matrix of Material Issues
Matrix of Material Issues

Stakeholder Engagement
Upholding the spirit of open transparency, TCC discloses information through a variety of communication channels, ensuring effective and quality communication results with its stakeholders. TCC systematically designed sustainability issue survey questionnaires, with which it collects and analyzes feedbacks of stakeholders; meanwhile, it evaluates the impacts and risk levels of sustainability issues on corporate operation, identifying material issues and prioritizes responses and reactions to meet the expectations of stakeholders toward TCC. In addition, TCC values expectations of its stakeholders for the Company and incorporates the areas of concern as the reference for corporate operation and sustainable development blueprint, so that TCC may better promote sustainable operation, fulfilling its corporate social responsibilities. TCC is convinced that only with smooth and effective communication channels with its stakeholders can TCC capture the pulses in the markets, economy, society, and environment, and ultimately put TCC’s sustainability missions of “Nature First” and “Benefit to Society” into action.

Stakeholder Engagement: Government & Competent Authorities、Shareholders & Investors

Stakeholder Engagement: Clients、Employee、Suppliers/Contractors

Stakeholder Engagement: Media、Local Communities、Industry Associations/Industrial & Academic Organizations

Stakeholder Engagement: Sustainability Associations、Environmental Groups/NGOs

Point of Contact