The first-of-its-kind bureau offers seamless ESG data collection and access
Taipei, 25 September 2024 – As global sustainability priorities intensify, companies are under increasing pressure to improve their ESG performance. In alignment with both local and international ESG regulations, Taiwan’s Financial Supervisory Committee has committed to advancing green finance, focusing on climate risk management and corporate governance. In response, CRIF has taken a significant step forward with the launch of Taiwan ESG Bureau, a first-of-its kind bureau platform designed to streamline the collection, access and utilization of environmental, social and governance (ESG) data, supporting sustainability disclosure across businesses and the real economy in Taiwan.
Using a core set of metrics and survey criteria that is mapped across global standards and frameworks, the Taiwan ESG Bureau platform simplifies the complex process of sustainability disclosure for companies to commence their sustainability journey. It also allows end users such as financial institutions, regulators and large corporates to access relevant data and timely insights to support their sustainability-related decision-making.
Alice Kuo, Country Director for CRIF Taiwan and, Regional Head of Compliance Sales, Asia remarked: “The launch of the Taiwan ESG Bureau underscores CRIF’s commitment as a purpose-driven organisation to support the sustainability disclosure and data needs of businesses in Taiwan. This platform also levels the playing field for all businesses, especially the small and medium-sized enterprises (SMEs), by simplifying ESG disclosure and to aid businesses in meeting their varied sustainability needs.”
Taiwan ESG Bureau offers the most comprehensive ESG data
Currently the proliferation of multiple sustainability reporting frameworks and guidelines across jurisdictions, coupled with the inconsistent methods of data collection, verification and reporting, has created significant disclosure challenges and led to poor comparability of ESG data. Existing data also often overlooks SMEs, which represent 98% of Taiwan's businesses, focusing primarily on listed companies.
CRIF's Taiwan ESG Bureau is built on international ESG frameworks and tailored to help businesses overcome these challenges. It offers comprehensive data on estimated emissions and physical risks for nearly 1.6 million businesses in Taiwan.
Helping SMEs Get Started
To help SMEs get started on their sustainability journey, the Taiwan ESG Bureau is free for all businesses’ use. The platform offers SMEs a streamlined way to begin their sustainability journey, allowing them to complete an ESG self-evaluation in just eight minutes. This marks the first step toward sustainable development, empowering companies to assess their ESG performance with ease. After the evaluation, businesses receive an ESG score and certificate, along with complimentary access to 1,000 summary reports and 100 certification reports. Furthermore, companies that join the Taiwan ESG Bureau will gain access to an extensive data set and advanced search functionality, enabling them to uncover deeper insights and make more informed decisions for their sustainability strategies.
Looking ahead, Taiwan ESG Bureau will expand its offerings and partnerships to meet the rising demand for sustainability reporting and data solutions, amidst a more complex regulatory environment. CRIF will collaborate closely with industry partners to promote the adoption of Taiwan ESG Bureau both within Taiwan and beyond, helping companies streamline their ESG reporting and compliance efforts. This will encourage cross-border data exchange and open new opportunities for collaboration between Taiwanese and international companies.
Visit Taiwan ESG Bureau website here: www.esgbureau.com.tw.