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Yang Ming's mission and vision are to be an excellent transportation group dedicated to offering high-quality transportation services to meet customers' needs.
The Company has established the "Sustainable Development Best Practice Principles for Yang Ming Marine Transport Corporation," taking into consideration the characteristics of the shipping industry and having regard to the "Sustainable Development Best Practice Principles for TWSE/TPEx Listed Companies." The Principles are for the management and all employees to follow. In addition to managing the risks and impacts of the overall operating activities on the economy, governance, environment, and society, we take being a corporate citizen as our responsibility
In 2021, the Company formed the Sustainable Operation Strategy Team to promote sustainable development strategies. The team is chaired by the Chairman. Under the team are the Customer Service Division, Environmental Sustainability Division, Corporate Governance and Integrity Division, and Employee Care and Social Commitment Division. Through these interdepartmental meetings, the Company may focus on discussing the sustainability goals with the most significant impact on container transport processes and services and aligning them with the Sustainable Development Goals of the United Nations (UN SDGs).
In accordance with the "Regulations Governing Establishment of internal audits Systems by Public Companies," Yang Ming has incorporated sustainability information management into the Company's internal control system. Each responsible unit prepares and updates the annual sustainability report, which is coordinated by the Public Affairs Department and submitted to the Board of Directors for discussion and resolution before release.
STRUCTURE OF SUSTAINABLE OPERATION STRATEGY TEAM
Sustainable Operation Strategy Team’s Strategies
Senior Management Compensation Indicators
The Company has established a "Sustainable Operation Strategy Team" chaired by the Chairman, responsible for supervising the overall promotion of corporate sustainable development. The General Manager and Company’s managers follow sustainable development-related policies to supervise their units in implementing various business plans and action programs.
In 2024, the Company incorporated Environmental, Social, and Governance (ESG) initiatives into its managerial performance management evaluation indicators. The results of these evaluations are linked to salary progression, performance bonuses, and other remuneration components. This initiative seeks to strengthen senior executives' commitment to ESG-related matters, thereby realizing the Company's vision for sustainable development and achieving its sustainability objectives. President is assigned 20% weight to “ESG Performance Indicators” goal and other Company’s managers based on their positions and scopes of business undertake President's “ESG Performance Indicators” with 8%-20% weight to their personal performance indicators. The detail of “ESG Performance Indicators” and its weight for different Company’s managers are demonstrated in following table.
| ESG Performance | Weight | Description | |
| Presidnet | Energy saving and emissions reduction to achieve environmental sustainability | 4% | To supervise/evaluate Company’s managers execute the goal set by “Sustainable Operation Strategy Team”. For more details on business plans, please refer to the “Company’s managers” section below. |
| Company’s care to local communities and public welfare participation | 4% | ||
| Green Procurement | 4% | ||
| Strengthen corporate governance and integrity management | 4% | ||
| Stakeholder Communication | 4% | ||
| Company's Managers | Energy saving and emissions reduction to achieve environmental sustainability | 8%-20% | The detail of energy saving and emissions reduction to achieve environmental sustainability includes:
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| Company’s care to local communities and public welfare participation | 5%-10% | The detail of Company’s care to local communities and public welfare participation includes:
|
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| Green Procurement | 5%-10% | The detail of Green procurement includes:
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| Strengthen corporate governance and integrity management | 10%-18% | The detail of strengthening corporate governance and integrity management includes:
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| Stakeholder Communication | 5%-10% | The detail of stakeholder Communication includes:
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2024 Sustainable Operation Strategy Team Achievements
- Reported the progress of greenhouse gas inventory and verification implementation for the Company's subsidiaries in the consolidated financial statements, totaling 4 times.
- Reported the establishment of short, medium, and long-term sustainability targets.
- Reported and approved the resolution to establish the “Protecting Biodiversity and Zero Net Deforestation Commitment,” and amended the company's Supply Chain Management Policy.
- Reported the company's 2023 Sustainability Report approval proposal, explaining that the sustainability report compilation includes:
- 2023 sustainability target implementation results and 2024 sustainability target formulation.
- Material issue identification, key stakeholder identification, communication channels, response methods and frequency of communication.
- Dedicated chapter disclosure of corporate governance of climate-related risks and opportunities in accordance with the Task Force on Climate-related Financial Disclosures (TCFD) framework.
- The company's sustainable supply chain management implementation status.
- The company's environmental management performance. 6. 2023 implementation results of phased human rights due diligence in accordance with GRI Standards requirements for human rights issue disclosure.
Board of Directors’ Suggestions for Supervision
- Establishment of Sustainability Targets
- In addition to considering compliance with international trends, domestic and international assessment requirements, and balancing investor demands, it is also necessary to consider the company's operational direction and circumstances to achieve balanced development of corporate sustainability and governance. Furthermore, considering the latest corporate governance development trends and strengthening the professionalism of sustainable development, the establishment of a dedicated sustainability development unit can be studied, and the feasibility of establishing a sustainability committee can be evaluated.
- Carbon Reduction Target Setting and Measures
- Actively demonstrate emission reduction performance, such as the emission reduction results from renewable energy.
- Develop aggressive carbon emission intensity reduction targets to reflect operational needs.
- Early planning to respond to the rise of international carbon reduction business models.
SUSTAINABLE DEVELOPMENT GOALS AND IMPLEMENTATION OVERVIEW
Yang Ming’s mission and vision are to be an excellent transportation group dedicated to offering high-quality transportation services to meet customers’ needs. However, excellence is not only about this, but also about giving consideration to the issues all stakeholders are concerned about and facilitating the sustainable development of society and the Earth’s environment.
Strengthening corporate governance and integrity management
- Strengthening corporate governance and integrity management
- Providing Excellent Transportation Services to Fulfill Customer Service Commitments
- Energy saving and emissions reduction to achieve environmental sustainability
- Employee care and talent cultivation
- Enhance social participation to give back to society
Corresponding SDGs
Sustainable Operation Strategy Team
Corporate Governance and Integrity Division
Short-term Goals
- Promote board member diversity policy, with female directors comprising one third of seats, independent directors comprising no less than one-third, and directors possessing industry experience, risk management, or information security backgrounds.
- Study the establishment of a board-level sustainability development committee with no fewer than 3 members, whose qualifications should include professional knowledge and capabilities in corporate sustainability, with at least 1 director participating in supervision, and disclose its composition, responsibilities, and operations.
- Hold at least one investor conference quarterly and announce the audio-visual link information for investor conferences.
- Complete IFRS implementation according to the Taiwan Stock Exchange regulatory timeline.
- Assess the applicability of CSDDD and study CSRD reporting framework.
- Formulate specific measures to enhance corporate value, report to the Board of Directors, and disclose relevant information in the "Corporate Value Enhancement Plan" section of the Market Observation Post System.
- Upload English-disclosed annual financial reports 18 days before the annual shareholders' meeting.
- Incorporate ESG-related performance evaluation items into the payment principles and calculation methods for compensation of the President, Vice President, and the chief officers of groups, with a proportion of 10%.
- Implement personal data protection policies and disclose their content and implementation status.
- Establish relevant customer rights protection policies and complaint procedures for service marketing or labeling issues.
- Add sustainability internal control documents in accordance with IFRS Sustainability Disclosure Standards requirements.
- Continue to include privacy protection in internal audit items.
- Continue to strengthen ship-shore information security operations, with no major information security incidents causing core business interruption or sensitive data leakage.
- Enhance information security awareness training (at least 2 educational training sessions, at least 3 social engineering exercises).
- Complete ISO 27001 upgrade from 2013 version to 2022 version.
- Zero violations of integrity management and corruption, conflict of interest incidents.
- Conduct ISO 37001 annual due diligence.
- Maintain the validity of ISO 37001 anti-bribery management certification.
- Deepen employees' integrity management awareness through educational training, with participation rate and pass rate target of 98%.
- Conduct integrity management educational training for onboard maritime personnel with participation rate and pass rate target of 90%.
- Conduct 3 compliance educational training sessions, with participation rate and pass rate target of 98%.
- Enhance personnel's legal awareness through 1 educational training session with participation rate and pass rate target of 98%.
- Zero violations of insider trading incidents.
- Conduct internal material information and insider trading prevention educational training, with participation rate and pass rate target of 98%.
- Optimize group risk assessment policies and content.
- With reference to relevant laws and policies, continuously optimize and adjust risk management policies and incorporate emerging risks into risk assessment items.
- Key tier-1 supplier sustainability self-assessment questionnaire review ratio reaches 90%, maintaining 100% of new suppliers complete a sustainability statement survey.
- Enhance supplier sustainability awareness through at least 1 educational training/ activity.
- Launch supply chain human rights due diligence, complete document review of 3 companies and conduct on-site inspection of 1 supplier.
Medium-term Goals
- Corporate governance evaluation ranking maintained at 6-20%.
- Implement board member diversity policy, with female directors comprising one-third of seats.
- Directors possess industry experience, risk management, and information security backgrounds.
- Maintain the rights and interests of shareholders and enhance information transparency.
- Maintain the effectiveness of the internal control system
- Implement information security management.
- Strengthen employees' awareness of legal compliance and risk control, and ethical operation management mechanisms.
- Implement supplier sustainability management mechanisms and establish elimination mechanisms.
Long-term Goals
- Corporate governance evaluation ranking improved to top 5%.
- Strengthen integrity management mechanisms, enhance information transparency and awareness.
- Corporate governance evaluation ranking improved to top 5%.
- Strengthen integrity management mechanisms, enhance information transparency and awareness.
- Continuously optimize supplier sustainability management mechanisms.