Although the pandemic subsided in 2023, the international political and economic landscape remained turbulent. The Russia-Ukraine war, the Israeli-Palestinian conflict, inflation, and the reorganization of supply chains have posed complex challenges to business operations. It is estimated that there will still be many uncertainties in the global economy in 2024. Meanwhile, GIS has continued to strive forward in ESG (Environmental, Social, and Governance) efforts to fulfill our commitment to sustainability and made substantial achievements in 2023.
In terms of environmental protection, GIS advanced its CDP (Carbon Disclosure Project) rating to B, and passed the official review of short-term goals for 2030 after submitting its SBTi (Science-Based Targets initiative) targets. The company also issued its first TCFD (Task Force on Climate-Related Financial Disclosures) report, which won the highest level of certification,“Level 5+: Excellence,”from the BSI (British Standards Institution). In addition, it once again earned the Silver Certificate of the VAP (Validated Assessment Program) by the RBA (Responsible Business Alliance), and made much progress in energy saving, water conservation, and waste reduction.
For social development, GIS has leveraged its accumulated experience in optical, mechanical, and electronic integration through the long-term development of touch display technology to actively expand into new application fields, including the automotive market and near-eye optical modules for the metaverse. In 2023, we established an optical lens research and development center in Taiwan, started volume production of lens modules for MR products, and expanded production lines for automotive 3D anti-reflective (AR) and anti-glare (AG) glass coating. We also developed new products like head-up displays (HUD). These efforts not only aimed to bring new momentum to our company, but also contributed to smart living in future society.
In terms of corporate governance, the Sustainable Development Committee exerted further functions after being elevated to directly reporting to the Board. The committee held three meetings in 2023, enhancing in-depth management and improvements in corporate governance and operation, environmental sustainability, supply chain sustainability, employee care, social welfare, and risk management. GIS also built an ESG website to facilitate communication with stakeholders. According to the result of the 2023 corporate governance evaluation by the government, GIS ranked among the top 5% of listed companies in Taiwan.
In 2023, GIS received two recognitions of the TCSA (Taiwan Corporate Sustainability Awards) – the "Outstanding Foreign Company Award" for its overall sustainability performance and the “Silver Award of Electronic Information Manufacturing Industry – Category 1” for the corporate sustainability report. These awards affirmed our commitment to sustainable operations.
As a leading supplier in the global touch display industry, we deeply recognize our social responsibility. Looking ahead, we will continue to implement sustainability into every aspect of our operation through efforts led by our ESG team. We will also move forward hand in hand with our supply chain and deepen partnerships with various stakeholders to make continuous improvements, create more efficient production, and develop advanced and intelligent products for a better living environment.