Environmental Risks
Risk Management»Environment Aspect»Environmental Risks
Environmental Risks
- Global warming and damage to the environment caused by climate change would further disrupt business operations and environment if no actions taken:
- Pledge to implement the SBT scientific approach to carbon reduction and establish a carbon reduction target which will help limit global warming to 1.5 degrees Celsius, our commitment was officially verified by SBT in October 2024. Furthermore, a new climate declaration was issued to support Quanta's net-zero emissions commitment.
- Leveraging the TCFD (Task Force on Climate-related Financial Disclosures) framework to identify risks and opportunities related to climate change and financial performance.
- Conduct cross-department and cross-site cooperation to jointly establish a greenhouse gas inventory system management, in order to implement the effectiveness of greenhouse gas management, complying with changes in international regulatory trends, and strengthen information disclosure.
- Develop a system on product carbon management and calculation framework to assess the environmental impact during the design, manufacturing, and sales processes. The aim is to reduce future cost increases, meet customer requirements, and lay the foundation for implementing a circular economy.
- Planned Internal Carbon Pricing (ICP) system to understand carbon emissions associated with operation activities across different departments. We plan to provide recommendations for carbon reduction plans and reinforce internal decarbonization efforts.
- Amended "Environmental Policy," "Energy Management Policy," and "Greenhouse Gas Policy" and introduced new policies on "Biodiversity and No Deforestation Commitment" and "Sustainable Raw Materials Policy", aligning with market and regulatory focus on sustainability and enhancing the execution scope and directions of Quanta's sustainable environmental initiatives.
