Governance
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Dedicated Unit
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Novatek organized the "ESG Sustainability Committee" as the core of the Company to implement sustainable development. The chairman, president and many senior executives of Novatek from various fields formulate medium- and long-term sustainable development goals in the management meeting, and are responsible for coordinating and integrating the Company's resources from different departments, identifying climate issues related to the Company's operations, formulating corresponding climate strategies, as well as tracking the achievement of goals.
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Regular Follow-ups
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The ESG Sustainability Committee is responsible for promoting the development of ESG, climate and environmental strategies, coordinating and managing various climate and environmental goals. The Committee holds at least two meetings each year to monitor the implementation of these goals. The Risk Management Committee is responsible for supervising the effectiveness of the operation mechanism, and at least once a year, reports regularly to the Audit Committee and the Board of Directors on the planning and implementation of these goals. This helps the Board of Directors track progress, provide feasible strategies or other directional suggestions, and urge management to evaluate and adjust planning issues.
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Strategy
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Risk Analysis
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Establish climate risk management tools to analyze the significant financial impacts that major climate risks may bring, identify short-term, medium-term, and long-term climate-related risks and opportunities, and enhance climate resilience.
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Design and R&D (Clean Technology)
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Committed to the design and research of smart imaging and display technology ICs, we strive to be a trusted global partner for customers while also addressing sustainability trends by developing innovative products that are energy-efficient and reduce carbon emissions.
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Renewable (Clean) energy
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Set up a solar power generation system, continuously evaluate the purchase of renewable energy, and increase the percentage of renewable energy use year by year. |
Energy-saving installations
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Continue to carry out the plan to replace old equipment and purchase energy-saving facilities to improve energy efficiency. |
Promotion of supplier sustainability project
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Work closely with suppliers to enhance sustainability management processes and jointly address environmental sustainability issues through negotiations or exchange forums, creating a sustainable value chain. |
Risk
management
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Risk Assessments
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Novatek's "ESG Sustainability Committee" conducts a potential risk assessment for the Company through the risk identification process, summarizes major climate risk issues as well as the corresponding risk management measures, reports to the Risk Management Committee on the implementation of risk management and control on a quarterly basis, and performs regular reviews and tracking.
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Assessment Follow-ups
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Novatek reviews the changes in policies, regulations, technologies, markets and business reputation on transition risks and opportunities every year. Furthermore, it strengthens the regular review of the assessment results of physical risks, transition risks and opportunities through climate risk management tools, and continues to make adjustment on a rolling basis.
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Sustainability Forums
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Through holding the supply chain sustainable operation exchange forum, the sustainable management process for suppliers is improved, allowing suppliers to jointly respond to environmental sustainability-related issues and creating a supply chain with sustainable value. |
Metrics
& Targets
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Reduction of Energy Consumption
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The energy consumption of full-range main products is reduced by 2~5% compared with the previous year. |
Conserving Water and Power
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Set internal water and electricity saving standards every year, regularly track the achievement of goals, and actively respond to the risks associated with climate change.
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International Verification
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Promote suppliers to obtain a number of certificates for ISO management system verification, including carbon emissions and disclosure, water footprint and energy management, and work with suppliers to follow the Company's sustainable development goals.
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Renewable (Clean) Energy
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Increase the procurement of renewable energy and the targets for the use of renewable energy: 20% by 2025, 50% by 2030, and 100% by 2050. |