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‘One solution fits all’ package for ESG doesn’t exist | Taiwan News



It is well recognized within Taiwan, both at the government and corporate levels, that Taiwan must embrace ESG (Environmental, Social, and Governance) as best practice for corporate development in Taiwan to maintain its high global standing and attractiveness for investment — especially given its critical player role in the global supply chain.

Taiwan’s focus on renewable energy and the government’s publicly announced 2050 net-zero carbon emission target means it is imperative that we understand what must be done to ensure ESG is fully integrated into best practice within the corporate environment.

In this first opinion piece on ESG, I would like to upend the acronym and focus on the “G” or governance aspect. Why? Well, no amount of “environmental or sustainability” policies and procedures will get you to your desired point if your governance is not “on point.”

As early as 2017, Taiwan corporates and financial institutions were reporting strong progress on the disclosure of the critical areas of governance, sustainability, and social impact in corporate board and leadership activities through their Corporate Sustainability Reports (CSR). These lengthy reports show, at the very least, an understanding of how important ESG has become in Taiwan both to the government and even to Taiwanese consumers.

The Taiwan Depository and Clearing Corporation (TDCC), which has been deeply involved in corporate governance since at least 2014, launched an investor platform in 2019 that became better known as the ESG Dashboard. It quickly became a reliable reference for corporate issuers, financial institutions, and retail investors of the ESG scores of locally listed companies.

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In 2020, the Financial Supervisory Commission (FSC) built upon these earlier ESG foundations by promoting the Corporate Governance 3.0-Sustainable Development Roadmap (Corporate Governance 3.0) and Green Finance Action Plan 2.0 to accelerate the sustainable development of Taiwan industry from the perspective of corporate governance and financial investment.

Corporate Governance 3.0 centered on five action plans. Importantly, one of those five was to, “Deepen a corporate culture of sustainable governance and provide diversified products.”

The five corporate action plans had an additional 39 specific promotion measures, including strengthening the duties and functions of boards and enhancing ESG-related information transparency.

Evidencing Taiwan’s ongoing commitment to ESG, the TDCC provided in March additional “icing on the ESG cake” by announcing that its ESG Dashboard will this year see the addition of well-known S&P Global ESG scores, as Taiwan joins in the global push for a green recovery.

The inclusion of the S&P Global ESG scores seems like a logical decision by the TDCC. It draws upon one of the most advanced ESG scoring methodologies in the international market today rather than reinventing the wheel.

This decision allows TDCC to leverage the S&P Global ESG Scores to gain insight into a deep range of environmental, social, and governance data of sustainability scores for over 10,000 plus companies. It has scores based on a detailed survey process and a full data history dating back to 2013.

There are other international scoring systems that TDCC could have chosen, but the adoption of the S&P Global ESG scores demonstrates Taiwan’s willingness to incorporate international best practice into the Taiwan market and to play a meaningful role in the international ESG arena.

One size fits all

So, how should Taiwanese companies demonstrate their governance credentials? There is no simple “one solution fits all” package. No doubt, policies, and procedures have been written and perhaps even rewritten, but that is simply not enough. At the very least, annual reviews of these P&Ps should be standard practice.

Taiwan companies need to have tangible evidence to demonstrate how they have implemented and continue to implement ESG in their investment decisions and operational framework.

The entire ESG message and evidence of actioned commitment must come from the very top echelons of every institution. Governance, through an appropriate committee structure that implements the ESG policies and procedures. must also be in place.

This means companies of a sufficiently robust size and operational complexity should seriously consider whether they may need to appoint an ESG specialist or at the very least assign the ESG coordination role to an existing high-level job description. Further, it is not sufficient that whatever committee structure is deemed adequate becomes a simple “rubber stamp” for ESG. There must be evidence of deliberation, discussion, implementation, and periodic review at the committee level.

It is the writer’s view that companies must undergo regular internal assessments, monitoring, and mitigation of relevant environmental goals and societal protections and undertake rigorous internal stress tests with the aim of continuous improvement. The results of these assessments and internal stress tests must then be tabled at the appropriate committee and improvements should be noted. Most importantly, any omissions should be logged, an action owner assigned to the remediation and an improvement should be made in a timely manner.

If you believe that ESG applies to your company, how does your internal scorecard read as of May? If your score is not as good as it should be, what steps are you actively taking to remedy any gaps? And, importantly, if you are already on the TDCC’s dashboard, what is your score and what are your plans to improve your current rating?

Paul Shelton is an experienced banking executive with a 30-year history of working as Head of Legal and & Compliance and MLRO for the Asia Pacific branches of major international financial institutions in Japan, Singapore, Australia, and Hong Kong. He is also experienced in working with financial regulators across the Asia Pacific and provides consultancy services to Taiwanese financial and non-financial industry associations in all aspects of Compliance, AML/Sanctions, and Governance. Paul now resides in Taipei.

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Corporate Governance

India Inc’s management confidence improves post Covid, shows AIMA Management Capability Development Index



Indian companies are feeling more confident about their management competence as they recover from the Covid crisis, according to a study of management capability of Indian enterprises by All India Management Association (AIMA) and KPMG.

The study findings produced a higher overall Management Capability Development Index (MCDI) score this year at 74.5 compared to 71.6 in 2018.

The survey showed that women are more confident of capacity of their organisation than men as women rated management capability of their enterprises higher than men on the majority of the 10 yardsticks, including vision and strategic leadership, performance leadership, financial leadership, external relationships, integrity and corporate governance, and innovation and adaptability. However, women score their organisations lower than men in the areas such as people leadership, organisation, and application of technology and knowledge.

The study shows a lack of substantial score upgrades in the areas of application of technology and knowledge as well as innovation and adaptability. The score on application of technology and knowledge has gone up slightly, from 72.1 in 2018 to 74 now, despite the wave of digitalization during the past couple of years. The score on innovation and adaptability has also improved a little – from 70.3 to 71.6.

The decadal trends of self-rating by Indian management showed a strong bias towards ethics. Over the past five MCDI studies, India Inc has consistently given itself the highest scores on integrity and governance – in high 70s or low 80s. This year, the score on integrity and governance has peaked at 80.4.

The areas of biggest concern through the past decade have been the organisation capability and people practices, but there is a recovery on both counts this year. On organisation capability, since 2011’s peak score of 76.2, there have been dips but now the score has recovered to 71.5. The people leadership score has also recovered this year to 73.2 after dips through the past decade.

The decadal variations have been minor on many management parameters. The scores have hovered around mid-70s on competencies such as vision and strategic leadership, performance leadership, financial leadership, and external relationships.

“The MCDI report provides important insights to Indian management leaders to bolster their organisations as they prepare for realigning their organisations in a changed world,” AIMA President CK Ranganathan said in a press note.

“It takes immense management capability to navigate through uncertainty and ambiguity,” Ranganathan said.

The 2022 MCDI study was conducted across different sectors and different types and sizes of organisations to make it representative of Indian management.

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Corporate Governance

Delta 2023: Urhobo Renaissance Society Advocates Unity in Diversity



Urhobo leaders

This is because, the last few weeks in the state and elsewhere in Nigeria have been characterised by a barrage of political commentaries and opinions across socio-political groups, associations and critical stakeholders in the the state. Unfortunately, some of these views, according to URS, “seem to divide us more than unite us as a people.”

One of the major submissions of the group is that an Urhobo son should be governor of Delta in 2023.

Below is the press statement by URS

2023 Governorship Election in Delta State: Matters Arising

The last few weeks in Delta State and elsewhere in Nigeria have been characterised by a barrage of political commentaries and opinions across socio-political groups, associations and critical stakeholders in the the state. Unfortunately, some of these views seem to divide us more than unite us as a people.

The URS wishes to join this conversation by propagating the doctrine of unity in diversity for the overall good of the Urhobo nation in particular, and Delta State in general.

We respect the right of the UPU as the apex socio-cultural organisation of the Urhobo nation to make crucial decisions on behalf of the Urhobo Nation.

By the same token,  we respect the right of persons and groups to lend their voices to the subject. However, we caution that such voices should be tactful, objective and devoid of divisive undertones at this crucial moment in Urhobo’s agenda to produce the Governor of State in 2023.

After studying the unfolding political planks and consulting critical political stakeholders in Delta state, The URS, in line with its non-partisan and neutral posture, joins the conversation with the following statement.

  1. We remind all stakeholders that an Urhobo ‘son’ must emerge as the Governor of Delta State in 2023. In effect, it is our utmost desire that Urhobo sons should emerge as governorship flagbearers of their respective political parties. That way, we are guaranteed that an Urhobo will eventually emerge as Governor. To that extent, we appeal to all critical stakeholders in all political parties in the state to work towards handing the ticket to an Urhobo son. In other words, our primary concern is the emergence of an Urhobo son as Governor in 2023;
  2. We believe that primary elections are within the purview of political parties and therefore have no plans of poking into the activities of political parties in their statutory responsibility of electing flagbearers. But because the eventual choice will directly affect the quality of life and development of Deltans, we must lobby and appeal that the candidate with the best qualification in human and capital development, experience and capacity to provide quality leadership for our dream Delta be handed the tickets of their respective parties. In effect, we are appealing to the delegate to please consider these criteria when they set out to choose the flagbearer of their respective parties. Also, we especially appeal to delegates from Delta central to think URHOBO FIRST when they cast their votes; and that no gratification of whatever kind should influence the choice of the eventual candidate. Therefore, to guide all delegates in their choice of the governorship candidate, we appeal that only the aspirant with a very clear and practical blueprint for the development of Delta state be allowed to lead the state;
  3. It is most desirable that the flagbearers of all the political parties in the Gubernatorial race are not imposed by any perceived Godfather(s) whether in or out of Government. Endorsements are a common feature of political contests in democratic climes and that should not necessitate caustic, insulting and derogatory attacks on perceived enemies. We are perplexed that most public commentaries in the state are tainted with party loyalty and the attitude of labelling enemies out of those who hold contrary views or differing strategies. We want to re-direct the minds of Urhobo delegates in the parties to issues of competence and allegiance to good corporate governance of the State.
  4. We salute the courage of the various Urhobo sons who have indicated their interest and preparedness to run for the primary elections of all the parties, and we also salute their supporters for their unflinching support. We however believe that the plurality of Urhobo aspirants is not helpful to our cause. We urge the various aspirants to begin a self internalized process of dropping individual ambitions to support a superior candidate of choice in the race. Let’s narrow the options. We must remind one and all of the need to stay healthy with their support, that only one aspirant will eventually emerge as flag-bearer, and that it will be counterproductive to burn all the bridges in the course of their respective support; and, most especially, because we still have a life of nationalism to live after the elections;
  5. To preserve the chastity and sacrosanctity of the gentleman’s arrangement of rotating the governorship position among the three senatorial zones of Delta state—a practice that has helped in dismantling mutual distrust, and erected mutual respect in its place, we call on other senatorial zones to support the Urhobo 2023 Governorship Agenda to sustain the reciprocity that has characterized the emergence of Governors in the state since the present political dispensation;
  6. We call on all Urhobo sons and daughters to be even more united at this critical stage of our existence as a nation; because in the long run, we are all pursuing the same goal of a united Delta, and an Urhobo Governor with the right mentality, capacity, experience and qualification to lead the industrialization of Delta state.
  7. Finally, we call on Governor Okowa to use his capacity as our Governor to provide a level playing ground for all political participants in the state, and across political parties to exercise their constitutional rights for the overall good of Delta state.

Long Live Urhobo Renaissance Society

Long Live Delta State

Long Live the Federal Republic of Nigeria


Prof. Hope Eghagha – President

Prof. Joseph Abugu (SAN)- Vice President

Dr John Uwa- Gen. Secretary

Dr. (Mrs) Cassidy Treasurer

Omiregua Joshua Oweibo- Fin. Sec

Engr. Akpojoto Okiti

Mr Mideno Bayagbon

Mrs. Jite Ellen

Mr. Obaro Osah

Mr. Abraham Ogbodo

Prof. Sunny Awhefeada

Mr. Teddy Okumakebe

Chief (Dr) Richard Iyede


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OffGamers Adds Direct Top-Up Option for China Platforms – Corporate Governance News Today



OffGamers Adds Direct Top-Up Option for China Platforms – Corporate Governance News Today – EIN Presswire

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