TWSE Market Insights

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In response to the global momentum of sustainable investing and investors’ growing expectations for corporate transparency and governance quality, the “Emerging Trends in Investor Relations and Engagement: ESG and Sustainable Investing” forum, co-hosted by the Taiwan Stock Exchange Corporation (TWSE, hereinafter “the TWSE”) together with securities and futures related institutions under the guidance of the Financial Supervisory Commission (FSC), was successfully held on the afternoon of October 15, 2025 at Grand Hilai Taipei. The forum focused on international developments, practical applications, and the adoption of digital tools in investor relations and ESG engagement. Through diverse perspectives and interactive exchanges, the event aimed to encourage listed companies to strengthen two-way communication with investors and jointly build a resilient capital market with sustainable competitiveness.

The forum opened with remarks by Director-General Chen-Shan Chang of the Securities and Futures Bureau (SFB). He noted that, as a key FSC policy initiative over the past year, the FSC has not only mapped out a vision of positioning Taiwan as an Asian asset management center, but has also advanced reforms based on two core principles: retaining wealth while attracting capital, and investing in Taiwan while supporting industrial development. With joint efforts from the FSC, related institutions, and market participants, early results have begun to emerge. In terms of regulatory easing and business liberalization, the FSC has completed 36 deregulatory measures. As an important platform for policy pilots, the Kaohsiung Asset Management Zone officially launched on July 1, 2025, attracting in its first wave multiple banks, fund managers, securities firms, insurance companies, and international accounting firms, demonstrating strong industry interest and active participation.

Next, Chairman Sherman Lin of the TWSE delivered remarks, emphasizing that amid global geopolitical tensions, supply chain restructuring, and rapidly evolving sustainability regulations, investor relations and ESG have become central to value creation and governance enhancement. The TWSE launched the Corporate Value Enhancement Plan in 2024 and, through thematic investor conferences, the IR Engage engagement platform, and strengthened disclosure guidelines, has guided companies to articulate strategy and capital allocation from an investor perspective, enhancing market confidence and re-rating potential. Meanwhile, the TWSE continues to promote sustainable governance through ESG talent development, carbon inventory and assurance, information digitalization, and the establishment of a carbon credit market. Looking ahead to 2026, the TWSE will transform and rename the Corporate Governance Evaluation into an ESG Evaluation, providing a clear roadmap for sustainability improvements. The forum aimed to build consensus between companies and investors, enhance the quality of communication, and develop a capital market characterized by transparency, resilience, and international competitiveness.

Chairman Lih-Chung Chien of the Taipei Exchange (TPEx) also delivered remarks, noting that Taiwanese companies’ fundraising via sustainable bonds, ETFs, ETNs, and related products has grown from NT$190 billion in 2022 to NT$1.6 trillion in 2024, reflecting the rapid expansion of sustainability themes across global capital markets. The TPEx has also established a Green Securities Information Platform to serve as a reference for financial institutions and investors in financing and investment decision-making.

Pak Wing Chung | Director, Sustainable Development Solutions, S&P Global Sustainable1

Against the backdrop of rapid changes in global capital markets, the linkage between sustainability and investor relations (IR) is being redefined. Director Chung opened with an “languages of love” metaphor, suggesting that companies and investors also share a communication language. In the context of sustainable investing, what investors truly want to understand is how sustainability actions will affect a company’s future operations and financial performance.

He shared a conversation with an IR executive of a Hong Kong-listed company who, within a single year, visited twelve cities worldwide and met with more than 1,500 investors. While questions varied, investors consistently focused on whether sustainability initiatives could drive growth, reduce risk, or strengthen competitiveness. Sustainability, in other words, is not a slogan but a key component of corporate value, making IR capability on sustainability topics increasingly critical. S&P Global also shared observations on Taiwan’s market structure: roughly one-third of companies are concentrated in about one-quarter of industries, and at least one-fifth of investors are foreign. This implies that Taiwanese companies will engage more frequently with large international institutions, which typically come with rigorous analytical frameworks and clearly defined engagement agendas.

To help participants better understand investor thinking, Director Chung  referenced research conducted with sovereign wealth funds. For example, a study with Singapore’s GIC (Government of Singapore Investment Corp) highlighted that companies often overlook climate adaptation when assessing physical climate risks, even though adaptation can create new investment and business opportunities. A report with Japan’s GPIF (Government Pension Investment Fund) underscored the importance of human capital management, especially for talent-intensive industries, and urged companies to present clear data on metrics such as employee satisfaction and retention.

To make sustainability information a language usable for investment decisions, Director Chung emphasized that S&P Global’s Corporate Sustainability Assessment (CSA) can help companies build a systematic communication framework. He shared three anonymized cases: one company quantified more than NT$10 billion in climate-related business opportunities, clearly disclosing investment amounts and timelines; another candidly acknowledged potential climate-risk losses of several hundred million NT dollars over the next 1.5 years and explained the investments required to reduce risk costs; a third demonstrated how it would incorporate climate adaptation measures across all operating sites within five years. These disclosures were persuasive because they mapped directly to investors’ core question: how sustainability affects corporate value, resilience, and growth.

On supply chain management, research conducted with Japan Exchange Group found that while Japanese companies have performed well in net-zero and biodiversity efforts, there remains room for improvement in supply chain risk management. The CSA’s supply chain module can help companies assess whether they have supplier standards and whether they manage suppliers systematically by region, product, and risk type, avoiding policies that are merely formalities.

Director Chung also offered a strategic perspective: companies should not only respond passively when questioned by investors, but should proactively manage capital markets through investor analytics. Such tools can help companies understand existing investors’ ESG preferences, identify potential investors not yet holding shares but highly aligned with the company’s profile, and use data to clarify the company’s relative position versus peers, thereby strengthening communication and addressing management gaps.

He concluded that the essence of ESG and IR lies in tightly linking sustainability issues with corporate value. Effective sustainability communication must be clear, comprehensive, and decision-useful. It not only reinforces trust with existing investors but also attracts new long-term capital. With a systematic data foundation, companies can move from passive responses to proactive engagement and secure competitive advantages under the new capital allocation order.

Tsung-Sheng Liu | Chairman, Yuanta Securities Investment Trust Co., Ltd.

Chairman Liu reviewed the development trajectory of global sustainable finance from a macro perspective. Since COP26 (Conference of the Parties 26), sustainability has evolved markedly over four years, moving from sustainable finance and climate finance to adaptation finance and transition finance. Countries and major financial institutions have shifted from carbon neutrality pledges to net-zero implementation, making sustainability requirements increasingly mandatory rather than purely advocative. Under this backdrop, “doing it may not earn bonus points, but not doing it creates risk” has become a new normal. Transparency, credibility, and consistency of sustainability information have become shared governance benchmarks across global capital markets.

Among the three ESG pillars, global focus has historically centered on “E” topics such as climate change, decarbonization, and biodiversity. However, over the next few years, the importance of the “S” dimension is expected to rise rapidly. Labor safety, gender equality, employee rights, workplace health, and major public safety incidents can directly affect corporate reputation, supply chain stability, and capital market valuation. Recent occupational safety incidents in Taiwan’s airline industry illustrate that social issues are no longer peripheral, but a key component of corporate sustainability management. By contrast, Taiwan’s progress in governance has achieved considerable institutional maturity. Since the Corporate Governance 1.0 initiative, areas such as board diversity, independent director systems, succession planning, and information disclosure have developed more systematically. Taiwan has also promoted ESG reporting based on GRI standards and assurance requirements, steadily aligning ESG governance quality with international systems.

Chairman Liu further noted that the regulatory logic of sustainable finance has also flipped rapidly. Whereas companies previously tried to “make financial information more sustainable,” with the ISSB under the IFRS Foundation putting IFRS S1 and S2 into effect, markets are increasingly requiring that sustainability information be financially decision-useful, directly influencing valuation. Going forward, carbon fees, carbon taxes, carbon credits, and the financial impacts of transition and physical risks will be embedded into valuation frameworks, making sustainability disclosures not merely supplementary, but part of valuation models and risk pricing. This also implies that investment institutions can combine AI tools to simulate carbon inventories, estimate climate pathways, and build scenario models, forming a new ecosystem where finance, sustainability, and technology converge.

Drawing on industry practice, Chairman Liu summarized the Taiwanese fund management sector’s sustainability journey in three stages. The initial stage focused on “investing in ESG,” relying on external databases and exclusionary screening (e.g., weapons, tobacco, highly controversial sectors). Next, under regulatory policy requirements, fund managers had to establish internal ESG risk management systems and embed ESG into the full process of analysis, decision-making, execution, and review, entering the stage of “investing with ESG.” Here, ESG became not merely a screening tool, but a core methodology for identifying investment risks. However, external ratings have limitations. For example, Silicon Valley Bank still held a very high ESG rating one week before its collapse, suggesting rating systems may fail to reflect structural issues in time. Therefore, fund managers must build “calibration” mechanisms, integrating external and internal models and proactively adjusting for major controversies, industry characteristics, and risk changes to avoid informational bias and distorted investment judgments.

On engagement, Chairman Liu stressed that Taiwan’s fund management industry should not confine itself to a passive role. Even though ETFs are passive investment instruments, they still carry responsibility for improving the quality of sustainability information. In Yuanta SITC’s practice, engagement is no longer purely bilateral between fund managers and companies, but has evolved into a tripartite engagement mechanism involving the fund company, index providers, and constituent companies. This model reduces information gaps by helping companies understand why ESG ratings lag, while enabling evaluators to capture the latest improvements, preventing sustainability scores from being distorted by time lags. This shift from passive to proactive and from bilateral to multi-party collaboration signals deeper development in Taiwan’s sustainability stewardship.

Chairman Liu also observed that global ESG scoring logic has shifted from additive thinking to a “multiplicative logic.” Previously, strong environmental performance could mask weaknesses in social and governance dimensions. Under newer standards, imbalance in any one pillar may weaken overall sustainability evaluation. Using Tesla and ExxonMobil as representative examples, he noted that Tesla, despite strength in environmental aspects, was removed from certain indices due to governance and labor controversies, while ExxonMobil’s sustainability ratings improved after strengthening governance structures and board diversity. This suggests ESG is moving toward more holistic integration.

Regarding Taiwan’s market structure, Chairman Liu noted that amid global volatility, uncertainty and market shocks associated with “Trump 2.0,” Taiwanese investors have displayed strong resilience. The ETF market’s tendency to buy more on dips has made ETFs a structural stabilizer. Population aging has also driven rapid growth in high-dividend ETFs, while the rise of market-cap ETFs in recent years has steered the market toward a more balanced structure, signaling an approaching “ETF 2.0” era centered on asset allocation and solution-based products.

In conclusion, Chairman Liu stated that for Taiwan’s capital market to form a true “new normal of resilience,” sustainable governance and fintech must be fully internalized into market operations. Regulation must continue to align with international standards; financial institutions must embed ESG into core decision frameworks; and companies must improve across environmental, social, and governance dimensions in parallel. Only when sustainability governance, information quality, technological tools, and the investment product ecosystem grow together can Taiwan demonstrate stronger resilience amid global shocks and steadily advance toward its positioning as a regional asset management center.

Moderator
Chih-Chieh Wang | Director, Research and Development, Business Today Panelists
Caihan Chia | Head of Greater China, Singapore Exchange (SGX)
Ying-Ji Huang | Spokesperson, Sitronix Technology Corporation
Hui-Xuan Lu | Spokesperson, All Ring Tech Corporation

Amid dramatic shifts in global capital markets and the surge of AI-driven stock rallies across countries, this panel explored how companies can replace one-way explanations with clear storytelling and high-quality engagement, enabling investors to truly understand corporate value and long-term potential.

The discussion began with Chia Caihan’s analysis of Singapore’s internationalized market characteristics. About 60% of SGX-listed companies are from Singapore, with the remainder being overseas enterprises. Institutional investors account for roughly 80% of total investors, raising the professional standards and information intensity required for market communication. She noted that cross-border IR challenges are not limited to language, but also include differences in information formats, communication channels, and the depth of investor expectations. Corporate communication is undergoing a paradigm shift: whereas investors once relied on TV, newspapers, or annual shareholder meetings, communication has moved toward online earnings calls, non-deal roadshows, and video conferences as continuous, proactive, digital engagement. SGX has also played a facilitating role by actively arranging in-person or virtual deep-dive engagements between listed companies and local investors to reduce perceived distance and build market trust.

On the crucial issue of language in cross-border communication, Chia acknowledged that English remains a key tool for efficiency. However, with rapid advances in AI translation, she believes the priority has shifted toward whether information can be fully delivered and deeply understood, beyond the language itself. From a regulatory perspective, formal documents still require rigorous translation and compliance processes. Yet from an investor perspective, as long as companies provide continuous, high-transparency information, language should not become a substantive barrier. To help companies with limited brand exposure, often B2B in nature, better articulate their value to the market, SGX in recent years has focused promotional efforts on themes such as digital infrastructure, fintech, and advanced manufacturing. By proactively publishing industry research and running investor education programs, SGX helps these companies translate their critical roles and influence in the value chain into investment narratives that the market can understand, thereby improving visibility and valuation rationality.

Regarding how Taiwan’s many SME “hidden champions” can be recognized and understood by international capital markets, Chia suggested that companies should be adept at “talking about their customers.” When investors learn that a company is a key supplier to global leading brands, critical platforms, or major clients, they can more easily understand its role in the ecosystem and its risk profile. She emphasized that the key to IR communication is presenting opportunities and risks honestly. Companies should clearly explain how operational indicators may be affected by customers’ product cycle shifts, policy changes, or technology route adjustments, when growth momentum might arrive, and when caution is warranted. Such structural information builds investor trust in a company’s going-concern capability more effectively than revenue figures alone.

From hands-on practice, Huang Ying-Ji shared differences in engaging various investor types. He observed that domestic institutional investors, often under time pressure, may focus more on short-term revenue and profitability. Foreign investors, especially long-only institutions, tend to focus on five core areas: management team professionalism and stability; corporate vision and ambition; execution track record (commitments versus delivery); long-term competitive advantage and moat; and disciplined capital allocation that can consistently create shareholder value. When investors repeatedly see capital deployed in the right places and the company focused on scalable, promising businesses, trust accumulates. Conversely, inconsistent strategy or illogical capital use can lead to valuation discounts. Huang also noted that foreign investors may be more sensitive than domestic investors to geopolitical risk assessments and talent structure. Some U.S. investors ask directly about war risk and also care deeply about how ESG translates into tangible business value, including whether products help customers save energy and reduce emissions, whether the company can attract and retain key talent, and whether incentives support long-term strategy. For such investors, financial statements are only the starting point; they focus more on the structure, strategy, and execution behind the numbers.

Representing a relatively smaller equipment manufacturer based in central and southern Taiwan, Lu Hui-Xuan discussed how to manage IR effectively under constrained resources. She candidly noted that for many large foreign institutions, a company’s first impression may be “too small to buy.” Therefore, companies must maximize every opportunity to appear in the market, especially at industry exhibitions closely linked to their core business. All Ring Tech intentionally invites analysts and institutional investors during the semiconductor exhibition period so they can see equipment and application scenarios firsthand, while the company explains product roadmaps and technology routes over the next three to five years.

This helps investors understand that, while the company is not large, it has been deeply cultivating key areas such as advanced packaging for years and has accumulated market share and technical barriers alongside industry trends. In her view, the primary task of SME IR is to ensure investors know that “the company is ready.” Cycles in the equipment industry are unavoidable, but companies can clearly explain current technology maturity, customer adoption progress, and the industry conditions that may trigger orders, helping investors see the long-term logic behind short-term volatility. She shared that some investors have said they “do not want to hear revenue numbers anymore,” but instead want to know the company’s positioning in advanced packaging, technical advantages, and the future evolution of equipment, because long-term capital focuses on industry trends, competitive positioning, and irreplaceability within the ecosystem, not quarterly revenue swings.

On ESG communication, Lu shared an experience of being “gently reminded” by investors: sustainability reports should not merely follow questionnaires and list risks without corresponding strategies. Investors value how a company identifies risks, develops response strategies, and whether those strategies can create new growth opportunities over the medium to long term. This prompted All Ring Tech to rethink its sustainability reporting approach, shifting from answering questions to explaining the logic between risks and strategies, and proactively disclosing challenges and defensive measures in day-to-day interactions rather than highlighting only positive achievements.

Returning to the central theme that IR is no longer just disclosure, the panelists agreed that providing numbers, reports, and compliance information alone is no longer sufficient for today’s investment decisions. In a world of frequent capital flows, AI reshaping industrial structures, rising geopolitical risks, and escalating sustainability demands, IR must shift from one-off information transmission to continuous, high-quality dialogue. Such dialogue includes explaining complex technologies and products in investor-friendly language, honestly disclosing risks and detailing concrete strategies, reducing distance through both physical and virtual engagement formats, and moving ESG communication from formal compliance to narratives centered on risk management and long-term value. In other words, what truly resonates with investors is not only impressive numbers, but whether a company can clearly articulate the trends it sees, the strategic position it chooses, and the capital and talent allocation decisions it makes in a changing environment. The transition of IR from disclosure to dialogue is becoming one of the most critical competitive capabilities for companies and investors as they face the next phase of capital market challenges.

Moderator
Chih-Chieh Wang | Director, Research and Development, Business Today

Panelists
William Chen | President, Taiwan Index Plus Corporation
Wan-Ru Wang | Vice Chairperson of Strategic Planning Committee, Chunghwa Post Corporation
Alex Huang | Chairman, Fubon Asset Management/ Vice Chairman, Securities Investment Trust & Consulting Association of the R.O.C.

This discussion focused on how companies can translate their sustainability stories into investment narratives that long-term capital can understand, trust, and commit to over time, now that sustainability has become a common language in capital markets.

Chen began from a tools-and-data perspective. He highlighted two core bottlenecks for institutional investors adopting ESG investing. First, corporate disclosures are often insufficient, making it difficult for fund managers, insurers, and foreign institutions to access ESG information that is sufficiently credible and comparable for responsible investment. Second, international ESG databases are expensive and have limited coverage of Taiwanese companies, making comprehensive analysis of sustainability risks and opportunities across Taiwan’s listed firms challenging.

To address this, Taiwan Index Plus has invested in research since 2017 and completed technology transfer in 2023, successfully establishing an ESG evaluation system tailored to Taiwan’s market. Chen explained that the system is not designed around questionnaire completion, but rather from an investor viewpoint, assessing sustainability performance through the lens of risks and opportunities. The framework comprises four major dimensions and, reflecting Taiwan’s industrial structure, classifies companies into four industry categories and 22 key topics, covering areas such as climate risk adaptation, energy use, labor and human rights, corporate governance, and crisis management. The evaluation relies not only on corporate self-disclosures but also cross-checks more than 40 regulatory and indicator-based violation and penalty records accumulated by regulators and self-regulatory organizations. The output is an evaluation report with scores, ratings, and narrative explanations that clearly identify strengths and improvement priorities across material topics. These data have been adopted by domestic banks, insurers, and some international asset managers, and have become an important foundation for developing local ESG indices and ETF products.

Building on this, Taiwan Index Plus has extended the concept into an IR engagement platform that connects listed companies on one side and institutional investors on the other. Companies can use the platform to review their scores and relative positioning across sustainability topics, supporting internal improvement and external communication. Investors can quickly identify engagement-worthy topics and companies, arrange meetings through the system, and leave interaction records, turning engagement from scattered one-off conversations into trackable, cumulative long-term interaction. Chen stressed that the goal is not only to identify “good companies,” but to ensure that “companies willing to change and communicate” can be seen by long-term capital.

He further cited internal empirical analysis to support a positive relationship between ESG performance and financial outcomes. By grouping companies based on whether they published sustainability reports and whether their ESG ratings were high or low, and comparing financial results in the subsequent year using median-based comparisons, the study found that companies with sustainability reports and higher ESG ratings generally outperformed peers in profitability, shareholder cash returns, and stock price performance. Observing index performance, Taiwan’s sustainability-related indices also posted meaningfully higher total returns than broad market-cap indices over the past five years. These findings provide strong evidence that sustainability and financial performance are not in conflict; over the medium to long term, sustainability performance can help identify companies with lower risk and steadier returns, fundamentally demonstrating ESG’s value creation potential for long-term capital.

Wang Wan-Ru approached the topic from the angle of converting social value into financial language. She noted that Chunghwa Post plays a dual role in basic communications and inclusive finance, operating Taiwan’s most extensive physical service points and postal network. For residents in remote areas, seniors, and digitally disadvantaged groups, it is an important gateway to financial and public services. However, if these features remain only at the level of storytelling or public welfare, long-term investors may view them as policy mandates. To help capital truly understand the embedded value, companies must translate actions into clear metrics and risk-management language.

She provided examples of quantifiable indicators such as coverage of remote service points, number of accounts held by disadvantaged groups, reach and completion rates of financial education and digital finance programs, and measurable progress in reducing the urban-rural digital divide. These can be framed as tangible outcomes in “social inclusion” and “financial accessibility.” On the environmental front, Chunghwa Post has introduced electric delivery motorcycles and smart logistics systems since 2016. While this requires higher upfront costs, from a long-term capital perspective it represents proactive preparation for carbon fees, fuel price volatility, and regulatory shifts, reducing the risk of large one-off investments later as policy tightens. Wang emphasized that Chunghwa Post is working to align these actions with the UN Sustainable Development Goals and future ISSB frameworks, and to disclose them through sustainability reports after third-party assurance. This enables investors to evaluate long-term resilience in climate risk management, social inclusion, and governance through familiar international frameworks, beyond purely financial metrics.

Huang discussed long-term capital and sustainable investing from the asset management industry’s perspective. He recalled that for more than a decade, Taiwan’s asset management evaluations of companies have focused largely on profitability, growth, and valuation. Low-probability, high-impact risks such as environmental accidents, governance failures, or social controversies were less systematically incorporated into models. The rise of ESG rules and responsible investment principles has forced a reassessment, as major industrial accidents or severe governance scandals can instantly erode years of earnings and brand value. Consequently, the asset management industry’s reliance on ESG information has increased significantly.

In practice, the biggest challenge is access to and quality of information. Many companies still lack robust sustainability reporting frameworks or familiarity with international disclosure standards, limiting comparability. Huang noted this is precisely why capital markets need neutral platforms like Taiwan Index Plus to integrate local regulations, corporate disclosures, and third-party data, helping asset managers build usable ESG assessment foundations. With more complete data, asset managers can treat ESG as a joint measure of risk and opportunity throughout stock selection and portfolio management, rather than as an after-the-fact label.

He also explained, from the perspective of private equity, how long-term capital can influence sustainability. Many international PE funds now incorporate ESG requirements into investment agreements when investing in startups or growth companies, requiring sound governance structures, transparency, and attention to environmental and social issues early in the growth stage. For sectors such as renewable energy, waste treatment, biodiversity, and low-carbon technologies, private capital is a key driver of scale-up and commercialization. From this perspective, sustainability is not merely a “compliance cost,” but a major axis of a new wave of industrial investment and innovation. Looking ahead, while Taiwan’s regulations are still evolving toward international alignment and market depth and international participation remain limited, Huang suggested that combining domestic long-term capital with international professional institutions through joint funds or cross-border partnerships, alongside clear sustainable investment standards, could enable private markets to become an important engine for Taiwan’s industrial transformation and infrastructure upgrading.

In closing, Chen returned to the core concerns of long-term capital: cash flow and risk. Citing a Japanese pension fund leader, he noted that true long-term investing considers 20 or even 30 years of operations. While short-term earnings matter, ignoring ESG risks may result in future events that wipe out accumulated financial achievements. Integrating ESG into investment decisions is not primarily about moral pressure, but a rational choice for risk management and return stability. Wang emphasized that for enterprises with public service missions like Chunghwa Post, the next major challenge is translating “doing the right thing for society” into language that investment markets can understand. Through concrete metrics, international frameworks, and strengthened disclosure, investors can see that what looks like cost today is often preparation for stable growth and risk control tomorrow. Huang concluded that asset managers occupy the middle of the investment value chain, connecting investors and companies. When they issue products such as green bonds, sustainability bonds, and transition funds, they are not only providing new investment targets but also educating the market on what truly constitutes long-term value and why sustainability performance affects long-term returns. He expressed confidence that continued collaboration among regulators, index providers, corporates, and asset managers can shift sustainability from a “cost center” to a “source of value,” enabling Taiwan’s strong companies and compelling stories to be seen by more long-term capital and to secure a firm footing in global markets.

Overall, the “Emerging Trends in Investor Relations and Engagement: ESG and Sustainable Investing” forum, spanning the regulator’s policy blueprint, the platform-building efforts of the TWSE and related institutions, and frontline insights from international institutional investors, asset managers, and listed companies, clearly demonstrated that Taiwan’s capital market is moving from an era of “disclosure obligations” toward a “new normal of communication and collaboration.” In this new normal, ESG is no longer merely a keyword in sustainability reports, but the core language of corporate strategy, capital allocation, and risk management. Investor relations (IR) is likewise no longer limited to one-way disclosure of financial statement figures, but must connect sustainability actions and financial outcomes from an investor perspective, using clear and verifiable narratives to build long-term market trust.

With increasing alignment to international sustainability disclosure standards such as IFRS S1 and S2, alongside ongoing enhancements in Taiwan’s ESG evaluation framework, IR engagement platforms, and green and sustainable financial products, Taiwanese companies are at a pivotal moment to translate sustainability performance into long-term capital preference. Facing a more transparent and demanding global competitive environment, companies must embed sustainable governance into their corporate fundamentals and leverage data, metrics, and effective dialogue to ensure their value is fully understood by the market. Only then can Taiwan build a resilient and attractive sustainable capital market ecosystem amid global economic turbulence, making “Invest in Taiwan, Support Industrial Development” a shared and enduring choice for long-term capital both at home and abroad.