TSRC Announces ESG Strategy

WPCIA Washington May 10, 2022

TAIPEI CITY, Taiwan — In response to the threats of global climate change and the opportunities within the upcoming low-carbon economy, TSRC has incorporated the Task Force on Climate-Related Financial Disclosures (TCFD) framework and chemical industry SASB standards in the development of its environmental, social, and governance (ESG) strategy with mid-to-long term objectives, which will be integrated into core businesses activities for driving business growth and operation resilience. The TSRC ESG strategy focuses on three pillars — advance environmental protection, advocate social positivity, and assure governance for sustainability. Key directives of the strategy include:

• Reduce carbon emission and optimize water utilization — TSRC plans to reduce carbon emissions by more than 20% within the next 10 years from the 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.

TSRC will provide more details and elaboration on its ESG targets and action plans at an upcoming company investor conference and via website updates. Learn more about TSRC at www.tsrc.com.tw.