TSRC Discloses ESG Strategy and Approaches
In response to the threats of global climate change and the opportunities in the upcoming low-carbon economy, TSRC incorporated TCFD framework and chemical industry SASB standards in the development of its ESG strategy with mid-to-long term objectives, which will be integrated into core businesses activities for driving business growth and operation resilience. TSRC ESG strategy focuses on three pillars – “advance environmental protection”, “advocate social positivity” and “assure governance for sustainability” with key directives as follows:
- Reduce carbon emission and optimize water utilization: TSRC plans to reduce carbon emissions by more than 20% within the next ten years from 2021 level and increase renewable energy and recycled water usage ratio to more than 30%.
- Offer eco-friendly and low-carbon solutions: The advanced synthetic rubbers offered by TSRC include solution styrene-butadiene rubber (SSBR) for green tires application which improves vehicle fuel efficiency with an estimated 1.5 million tons environment carbon emission reduction; the specialty styrene block copolymer (SBC) developed for medical equipment, shoe materials, and plastic modification aims to combat the negative impacts of one-time-use plastic waste to the environment through its recyclability, enable customers to reduce energy consumption and organic solvents in their manufacturing processes, and promote green compound formulations based on renewable raw materials.
- Strengthen operation resilience and enhance work environment safety: TSRC plans to strengthen the resilience of operation equipment and logistics in its production sites against extreme climate, improve the safeguard measures in operations following the TCFD analysis, promote substantiated greenhouse gas (GHG) emission reduction by all suppliers by 2025, and benchmark leading global chemical companies to reduce total recordable accident rate (TRIR) to less than 0.3 by 2030.
Since its founding nearly 50 years ago, TSRC has been and will continue to uphold its mission of enterprise sustainability and develop science-based materials solutions by collaborating with partners in the value chain. We will provide more details and elaboration on TSRC ESG targets and action plans at the upcoming company investor conference in 1H 2022 and via website update as we continue enhancing engagement with our stakeholders to create sustainable value for TSRC.
TSRC provides material solutions of synthetic rubber (SR) and styrenic block copolymer (SBC) to customers in tires, footwears, plastic modifications, adhesives, and various specialty applications to make people’s everyday lives better, safer, healthier, and greener. Headquartered in Taiwan, TSRC operates its extensive production bases and commercial network to serve customers worldwide. TSRC’s shares are traded on the Taiwan Stock Exchanges under the ticker symbol “2103”. Find out more about TSRC, please visit www.tsrc.com.tw. For media inquiry, please contact email@example.com