TAIPEI, Dec. 20, 2024 - The results of the 2024 Dow Jones Sustainability Index (DJSI) evaluation have been announced, with TECO Electric & Machinery Co. being selected for the Emerging Markets Index for the fifth consecutive year. TECO ranked first in the ESG evaluation among electromechanical stocks in emerging markets and improved its overall score from last year, securing the second position globally in the electromechanical industry category, ahead of several renowned international brands.
In the most critical industry evaluation areas, TECO achieved the highest scores in Business Ethics, Supply Chain Management, and Environmental Policy & Management. Its information disclosure level was rated as "very high," and the Governance & Economic dimension also received the highest industry scores. Chairman Morris Li expressed that TECO's vision is to be the key driver in realizing global electrification, intelligence, and green energy. With the belief in Business to business to sustainability, we consistently deliver innovative integrated solutions, foster a sustainable working environment for employees, and create lasting value for shareholders.
TECO highlighted its consistent improvement in the highly competitive DJSI evaluation, showcasing the results of its long-term commitment to sustainable operations. This year, TECO aligned its revenue classification with the EU Taxonomy guidelines, revealing that 54.6% of its consolidated revenue in 2023 came from sustainable products, marking an increase from the previous year. Secondly, TECO also referred to the ISO 14020 series and other standards to categorize its green products and services based on the revenue performance of its three major business groups. The results show:
Green Mechatronic Solutions: High-efficiency low-voltage motors (IE3 and above) accounted for 74.7% of the group's revenue.
Air and Intelligent Life: Green household appliances contributed 60.0% of the group's revenue.
Intelligence Energy: Green engineering-related revenue (including offshore wind power, grid resilience, and green buildings) comprised 53.0% of the group's revenue. It represents the fastest growth among all sustainable product revenues.
In the social and corporate governance dimensions, TECO has ranked within the top 5% of Taiwan's corporate governance evaluations nine times in recent years. Starting in 2023, the company implemented KPI metrics to ensure gender diversity in recruitment and promoted DEI (Diversity, Equity, and Inclusion) initiatives. TECO also linked managerial bonus payouts directly to sustainability KPIs, such as greenhouse gas emissions, carbon intensity, and green supply chain performance. Furthermore, it established a robust risk governance framework, incorporating risk oversight and auditing at the board level.
For more information please check TECO official website: https://www.teco.com.tw/en
SOURCE TECO Electric & Machinery Co.
