PharmaEssentia Announces Entry into 2023~2024 Sustainable Leap Year
2023 / 10 / 26
PharmaEssentia Announces Entry into the 2023~2024 Sustainable Leap Year
PharmaEssentia initiated its 5-year Sustainability Blueprint 1.0 in 2019, and it has now entered its fifth year. Anchored in Sustainable Development Goal 3 (SDG 3) – Good Health and Well-being, this sustainability agenda has linked the core value chain of the company and implemented ESG sustainable practices that have garnered recognition from external parties and international organizations. This year has been designated as the 2023~2024 Sustainable Leap Year, signifying its pivotal role in leading the way forward. In the forthcoming 5-year plan, PharmaEssentia aims to reinforce its sustainability capabilities, enhance operational flexibility, boost competitiveness, and create lasting added value.
Expanding Information Scope: Initiating the Double Materiality Assessment, and Continuing TCFD Integration
As we step into the Sustainable Leap Year, we have gradually incorporated sustainability information from our overseas subsidiaries. In addition to our Taiwan headquarters and Panco-Asia subsidiaries, we have added a Japanese subsidiary for the first time and are continuously enhancing the information transparency of our American subsidiary. This expansion of the ESG framework aims to meet the increasing demands of consumers, investors, and stakeholders who seek a comprehensive evaluation of PharmaEssentia' sustainability performance. Expanding our ESG boundaries contributes to enhancing the company's social image and brand value.
Introduction of the Double Materiality Principle: Reassessing Significant ESG Issues
PharmaEssentia finds itself at a crucial stage in global commercial marketing, striving to meet the needs of various stakeholders worldwide by delivering more effective information. We are committed to ensuring the impact and implications of external environmental changes and social dynamics, as well as internal corporate activities, with the goal of mitigating risks and creating value. To accomplish this, we reassess key ESG (Environmental, Social, and Governance) issues every two years, incorporating the latest concepts from international sustainability standards. For the first time, we have introduced the Double Materiality Principle to redefine significant ESG issues.
The Double Materiality Principle implies viewing ESG issues from a risk assessment perspective. This principle focuses not only on the "Financial Materiality" risk of environmental factors within the organization, but also on the "Impact Materiality" effect of our business operations on the external environment. This dual perspective demands simultaneous consideration of the importance of both internal and external ESG factors, ensuring that our ESG efforts align with the expectations of internal and external stakeholders. We believe this comprehensive approach will help mitigate corporate risks, enhance sustainability, and promote value creation. This mission will continue to guide us towards a more sustainable future.
Ongoing Implementation of the TCFD Project in Taiwan
In response to the challenges of climate change, PharmaEssentia aligns with SDG 13 - Climate Action and actively supports Taiwan's commitment to Net Zero by 2050. In 2022, we introduced the TCFD framework for the first time, prioritizing the identification of climate change risks and opportunities as the foundational cornerstone for climate governance. Going forward, we will initiate the second phase, which involves climate scenario and financial impact analysis, resulting in a climate risk matrix. This will provide pertinent and reliable financial measurement data to support environmental sustainability.
PharmaEssentia remains dedicated to sustainable development, gradually expanding its global ESG boundaries, effectively integrating them into core business strategies to realize comprehensive corporate sustainability. This involves better management of environmental and social risks, fostering a corporate culture and governance structure, ultimately delivering more proactive financial and social benefits.
PharmaEssentia’s journey of sustainable ESG development has consistently garnered acclaim, successfully attracting international institutional investors
Extracts from education and training courses
| Name of the program | PharmaEssentia HQ & Taiwan , US, Japan Subsidiaries 2023-2024 Sustainable Leap Year ESG Initiative Inception Conference Education and Training |
| Description of program objective | Emphasizing the linkage between critical international ESG issues and trends and their relevance to Pharmaceutical.
Reintroducing a reevaluation of significant issues by implementing the Double Materiality principle. Ongoing implementation of the TCFD project in the Taiwan region. |
| Quantitative or Qualitative impact of business benefits | The company has consistently achieved outstanding ESG performance results and contributions throughout its sustainability journey. For the first time, the Double Materiality principle has been introduced, aligning with international sustainability standards to meet the information disclosure demands of the capital markets. Commenced the first ESG education and training for the Japanese leadership team; continued the second-year ESG education and training for the American leadership team, gradually incorporating sustainability reporting into the scope of global overseas subsidiaries. The second phase of the TCFD project in the Taiwan region is ongoing, with the completion of climate governance reports and risk matrix charts. |
| % of FTEs participating in the program |
Three education and training sessions were
held on 10/11 (JP), 10/12 (US), and 10/16 (TW).
The target audience included Taiwan HQ and subsidiary Panco, as well as Japanese and American subsidiaries. In the Taiwan region: The number of invited ESG project members was 65, with 49 individuals in actual attendance, representing an attendance rate of 75.38%. There were 21 voluntary participants in online learning. The total number of attendees was 70, comprising 37 males and 33 females. The total training hours amounted to 140 hours. In overseas subsidiaries: Japan: 4 individuals (senior management), with a total training duration of 8 hours. USA : 5 individuals (senior management), with a total training duration of 10 hours. |
| Number of Management-level Supervisors (Assistant Manager and above) participating in the training |
28 individuals, including the management teams of overseas American and Japanese units. |
Photographing the Highlights of the Education and Training Program
