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氣候變遷治理策略
Climate Change Governance Strategies
Climate change remains an important issue that companies have to tackle enroute to achieving sustainable development in 2022. The “Global Risks Report” warned that as extreme weather and climate action failures have been identified as key risks, the threats brought about by extreme weather have become more and more evident. In addition, with multiple countries and international organizations aiming at achieving net zero emissions, the laws and regulations related to climate adaptation have become progressively explicit. As one of the key roles in the global shipping industry, Yang Ming continues to treat climate change management and response as the Company’s major tasks. In addition to managing and monitoring the
risks and opportunities brought by climate change to the Company on an ongoing basis, we include climate change factors in operational planning and decision-making and continuously adopt the Task Force on Climaterelated Financial Disclosures (TCFD) framework as the basis for climate risk management to identify the opportunities and challenges delivered by climate change to Yang Ming and, through governance, strategy, risk management, and metrics and targets, promote climate adaptation and mitigation management. For the second consecutive year, the Company identified the R&D of lowcarbon products and services as a climate-related opportunity to be committed to discovering more low-carbon business opportunities and improving corporate resilience. We also assessed the feasibility of investment in new energy to frame a climate-related sustainability blueprint specifically for Yang Ming, enhancing corporate resilience while contributing to the environment.
Climate Change Governance
The Role of the Board of Directors in Climate Change Governance
Yang Ming’s Board of Directors is the highest governance body on climate change issues, responsible for overseeing and making decisions about the Company’s climate change governance efforts. The “Risk Management Policy” was established by Yang Ming. The Risk Control Office and Sustainable Operation Strategy Team assess the risks related to climate change, report the assessment results to the Risk Management Committee and Board of Directors after the risk assessment procedure for the Group is completed, keep track of high-risk items on a quarterly basis and report the improvement results to the Risk Management Committee and Board of Directors.The Board of Directors deliberates on the risks and opportunities related to climate change for the Company and incorporates them in motions, and helps the Company mitigate and adapt to the impact of climate-related risks on corporate operations through related capital expenditure. Climate-adaptive services are also offered.
Climate Change Governance Organization Structure and Segregation of Duties
Management of Climate Change Risks and Opportunities
Procedures to Identify Climate Change Risks and Opportunities
To effectively manage climate-related risks and opportunities, Yang Ming’s Risk Control Office and Sustainable Operation Strategy Team are responsible for assessing and tracking climate-related risks that may cause impacts on the operations of the Company. The scope of the TCFD project continued to expand this year, establishing a comprehensive assessment mechanism, projecting financial impacts and management costs, making rolling adjustments to related management mechanisms, and proposing strategies to respond to climate change risks and opportunities.
The Risk Control Office and all other departments include possible impacts on the operations of the Company in the assessment of climate change risks. Education and training programs are implemented across the Company to improve employees’ knowledge of global risk trends and climate change, guiding them through assessing the likelihood, impact and influences of climate change risks, so that they can identify risks and opportunities under different climate change scenarios. The results are verified by the management team, and then the development of corresponding strategies and the evaluation of financial impacts will follow.
To develop a climate-related risk management mechanism and come up with response strategies, the Company holds climate-related risk and opportunity response strategy meetings attended by the Chairman, President, and other senior management officers to form strategies to properly reduce, transfer, accept or control/manage the high-risk and high-opportunity factors identified by departments.
Based on the identified risks and opportunities, the Company estimates the possible financial impacts that may result from climate change, and develops response strategies to mitigate costs and realize
benefits.
The specific procedure for identifying climate change risks and opportunities is shown below:
the risks or opportunities, 3 high-risk factors and 3 high-opportunity factors were identified for Yang Ming for 2023. The climate change risk and opportunity matrixes of Yang Ming for 2023 are as follows:
Description of Climate Change Risks
Summary of Climate Change Risks Identified
| Risk Ranking | Risk Category | Risk Factor | Estimated Time Horizon |
|---|---|---|---|
| 001 | Transition risk Policies and regulations |
Tightening carbon emission regulations and energy efficiency requirements | Short-term |
| 002 | Transition risk Technology |
Substituting existing products and services with low-carbon alternatives | Medium-term |
| 003 |
Physical risk Long-term |
Extreme climate model changes | Medium-term |
Description of Climate Change Opportunities
Summary of Climate Change Opportunities Identified
| Opportunity Ranking | Opportunity Category | Opportunity Factor | Estimated Time Horizon |
|---|---|---|---|
| 001 | Resource efficiency | Adoption of new technologies to raise operational efficiency | Short-term/medium-term |
| 002 | Resource efficiency | Adoption of transportation methods with higher efficiency |
Short-term/medium-term |
| 003 | Products and services | Diversification of business activities | Long-term |