Preface
To integrate sustainability-related policies and initiatives across Taiwan’s capital market, the Taiwan Stock Exchange (TWSE) officially launched the “ESG Ecology” section on its sustainability website on March 23, 2026. Guided by the core concept of “Power Up TW, Level Up ESG,” the section systematically presents TWSE’s overall strategies and achievements in promoting sustainable development.
The section brings together eight key pillars: enhancing ESG digital infrastructure; transforming the ESG Evaluation and launching Green Stock Designations; aligning with the IFRS Sustainability Disclosure Standards; strengthening investor relations; fulfilling TWSE corporate sustainability responsibilities; cultivating ESG talent; developing diversified ESG products; and driving the sustainable carbon market. Together, these pillars form a comprehensive ESG ecology. Going forward, TWSE will regularly update the section and provide content in both Chinese and English, continuously presenting the latest progress of each initiative, guiding companies in accelerating their sustainability transformation, and further enhancing the international competitiveness of Taiwan’s capital market.
Eight Key Pillars of the ESG Ecology
Enhancing ESG Digital Infrastructure
TWSE launched the ESG InfoHub in July 2023, providing visualized charts to facilitate convenient access to and comparison of listed companies’ ESG indicators. Through visualized charts and ESG dashboard indicators, the platform helps investors and companies compare ESG performance across companies and industries. In 2025, TWSE further expanded ESG dashboard indicators and launched a dedicated “Sustainability Report Sample” section to strengthen the application of sustainability information. In 2026, TWSE plans to launch a dedicated section on greenhouse gas reduction to enhance external engagement with the ESG InfoHub.
In addition, TWSE has developed the ESG Digital Platform for listed companies to disclose ESG indicators, sustainability reports, sustainable economic activities, and SASB Standards information. Looking ahead, TWSE will continue refining ESG indicators in alignment with the ESG Evaluation, enhancing sustainability report submission and generation functionalities, and exploring the standardized disclosure of sustainability sections in annual reports.
To enhance the efficiency of sustainability information review, TWSE has also introduced an AI-assisted review mechanism for annual reports and sustainability reports. It has developed a one-stop sustainability report review mechanism that covers review, verification, and analysis, as well as the automated generation of draft review reports, to advance digital regulatory supervision and improve review consistency. TWSE will continue to enhance AI-assisted review functionalities and develop digitalized review functions for annual reports to further improve review efficiency.
Transforming ESG Evaluation and Green Stock Designations
Since its launch in 2014, Corporate Governance Evaluation has become an important mechanism for encouraging listed companies to improve governance quality and information transparency. As sustainability issues have received increasing attention, TWSE has considered international trends and relevant policy directions and gradually incorporated environmental and social indicators into its evaluation framework. In 2026, the evaluation was officially transformed and renamed the “ESG Evaluation.” In October 2025, TWSE announced the first round of ESG Evaluation indicators and methodology, and held promotional briefings in December of the same year to help companies understand the evaluation framework and related indicators.
The first ESG Evaluation will assess the sustainability performance of listed companies across the three dimensions of Environmental (E), Social (S), and Governance (G). The Environmental dimension accounts for 21% of the evaluation, with 16 indicators; the social dimension accounts for 31%, with 23 indicators; and the Governance dimension accounts for 48%, with 36 indicators. In January 2026, TWSE published scoring guidelines and reference examples. TWSE will continue to refine the evaluation indicators, announce the second round of ESG Evaluation indicators and conduct promotional briefings in the fourth quarter, and release the results of the first ESG Evaluation by the end of April 2027.
In support of the Financial Supervisory Commission’s Green and Transition Finance Action Plan and to encourage companies to continue their green transition, TWSE officially launched Green Stock Designations in 2026. The framework was developed with reference to the Green Equity Principles of the World Federation of Exchanges (WFE), international exchange practices, and Taiwan’s Guidelines on the Recognition of Sustainable Economic Activities.
The framework evaluates listed companies based on the proportion of green revenue to annual revenue and incorporates a public disclosure review mechanism. Companies meeting the relevant criteria will be awarded Green Stock Designations, helping investors identify listed companies with environmental performance and guiding capital toward enterprises with sustainable value. In 2026, TWSE will conduct promotional briefings and the designation process, and is expected to announce the first list of companies awarded Green Stock Designations by the end of the year, thereby continuing to advance the development of green finance in Taiwan.
Aligning with the IFRS Sustainability Disclosure Standards
To align with international trends in sustainability information disclosure, the Financial Supervisory Commission released the Roadmap for Adoption of the IFRS Sustainability Disclosure Standards in 2023. Starting from the 2026 fiscal year, listed companies in Taiwan will adopt the Standards in three phases based on paid-in capital.
In line with the competent authority’s policy, TWSE has successively issued disclosure examples and practical guidance, and has assisted companies in adopting the new framework through promotional briefings and workshops. TWSE has also established an IFRS Sustainability Service Team to provide consultation and support to listed companies.
Regarding greenhouse gas disclosure and corporate decarbonization actions, as of the end of 2025, 91% of listed companies had disclosed Scope 1 and Scope 2 emissions, 66% had disclosed Scope 3 emissions, 52% had completed greenhouse gas assurance, and 66% had disclosed decarbonization targets or related measures. These results demonstrate the continuous improvement of corporate greenhouse gas disclosure transparency and decarbonization management capabilities.
To strengthen assurance quality, TWSE conducted its first review of working papers of greenhouse gas assurance institutions in 2025 and continues to enhance the assurance system and professional capacity for sustainability information. As of April 2026, 38 assurance institutions and 191 assurance personnel had passed the review process. Going forward, TWSE will adjust assurance accreditation and supervision measures in line with the adoption of the IFRS Sustainability Disclosure Standards, while expanding assurance capacity and continuing to enhance the professionalism and quality of greenhouse gas assurance.
Strengthening Investor Relations
To strengthen investor services and enhance market transparency, TWSE continues to optimize its investment information platforms. In 2024, TWSE launched the Investment InfoHub 2.0, a one-stop information platform available in both Chinese and English. In 2025, TWSE further upgraded website search functionalities and added a Taiwan Innovation Board section, helping investors better access market information.
To encourage listed companies to strengthen communication with investors and enhance corporate value, TWSE promotes the Power UpTW Program. As of the end of 2025, 487 listed companies had participated in the program and disclosed related plans, representing approximately 46% of all listed companies. This demonstrates companies’ increasing emphasis on improving information transparency and investor relations management.
To support the policy of developing Taiwan into an Asian Asset Management Center (AAMC) and enhancing the value of Taiwan’s capital market, Taiwan Index Plus Corporation (TIP) established the IR Engage platform in November 2024. The platform provides services including an IR Zone, corporate briefing services, ESG value-added information, and engagement matching services, helping listed companies strengthen communication, engagement, and connections with institutional investors.
In terms of international promotion, TWSE continues to conduct overseas investor outreach and investor engagement activities, while promoting the Asian Asset Management Center (AAMC) policy to enhance the international visibility of Taiwan’s capital market. In 2025, TWSE conducted investor outreach activities and institutional investor visits in Japan, the Middle East, and Thailand. For the first time, TWSE also organized a smart technology-themed corporate outlook event in conjunction with COMPUTEX and coordinated the inaugural Taiwan Week series of events, actively increasing the international exposure of Taiwan’s capital market. In 2026, TWSE will continue to promote domestic and overseas investor outreach activities, and plans to organize COMPUTEX participation and corporate briefings, Taiwan Week activities, and major international exchange events to deepen cooperation with international capital markets.
Fulfilling TWSE Corporate Sustainability Responsibilities
In addition to promoting sustainability in the capital market, TWSE actively implements its own sustainability transformation. Since 2018, TWSE has published annual sustainability reports, continuously disclosing its sustainability strategies, governance mechanisms, stakeholder engagement, and implementation results and highlights across ESG-related sustainability topics. These efforts demonstrate TWSE’s commitment to sustainable development.
In climate action, TWSE completed its 2024 greenhouse gas inventory and assurance and obtained ISO 14068-1:2023 carbon neutrality verification. In addition, renewable energy usage at TWSE’s office facilities in Taipei 101 has reached 100%, and TWSE continues to increase the use of green electricity at its data centers. TWSE’s sustainability practices have also received multiple recognitions, including the 2025 BSI ESG Net Zero Action Award from the British Standards Institution and recognition as an outstanding private enterprise or organization in green procurement.
TWSE has also promoted the Taiwan Nature-Based Carbon Sink Co-Prosperity Initiative, advancing forest carbon sink projects in Yilan and low-carbon farming soil carbon sink projects in Yunlin. By integrating local development, ecological restoration, and corporate participation, the initiative aims to provide demonstration cases for corporate participation in nature-based carbon sinks and further promote corporate sustainability responsibilities.
Cultivating ESG Talent
TWSE continues to collaborate with the Taipei Exchange, director training institutions, and academic institutions to organize director training, sustainability training, and related promotional briefings tailored to the different needs of corporate governance officers and directors. These programs help companies enhance their sustainability governance capabilities and support Taiwan’s capital market in advancing sustainable transformation and aligning with international trends.
In 2025, TWSE conducted six sustainability-related workshops and promotional briefings, with total participation exceeding 800 attendees. In 2026, to continue supporting the growth of Taiwan’s capital market, TWSE plans to organize decarbonization practical workshops and Power UpTW Program workshops in the first half of the year, and to conduct director-focused promotional briefings across northern, central, and southern Taiwan in conjunction with regulatory initiatives.
TWSE also works with universities, NGOs, and online platform providers to deliver both online and offline ESG training programs and promote knowledge of sustainable development. In 2025, ESG education and outreach activities attracted more than 5,000 participants. In 2026, TWSE will continue to cultivate sustainability professionals in the capital market through director training and professional development programs.
Developing Diversified ESG Products
As global sustainable investment continues to develop rapidly, demand for ESG-related financial products continues to grow. TWSE continues to promote the development of ESG investment products. As of the end of April 2026, a total of 22 ESG-related ETFs and ETNs had been listed, with total assets under management exceeding NT$754.9 billion. This indicates that sustainable investment products have gradually reached a meaningful market scale and have become an important channel for investors to participate in sustainable finance. In 2026, TWSE will continue to collaborate with issuers to expand product diversity, encourage new listings, and leverage innovative marketing channels to further develop diversified ESG investment products.
TWSE also continues to promote the development and application of ESG-themed indices. In 2025, TWSE completed the licensing of the S&P TIP Taiwan Carbon Reduced ESG 50 Index and supported its productization by asset management institutions. In 2026, TWSE will continue to develop ESG-themed indices and promote their application, encouraging market participants to develop related investment products and offering investors more diversified, sustainable investment choices.
Driving the Sustainable Carbon Market
In support of Taiwan’s net-zero emissions policy, TWSE and the National Development Fund jointly established the Taiwan Carbon Solution Exchange (TCX) in 2023 and launched international carbon credit trading services in the same year. In 2024, TCX officially launched the domestic carbon credit trading market, gradually building Taiwan’s carbon market trading mechanism. At present, TCX continues to assist the Ministry of Environment in line with its schedule in developing the carbon trading system, exploring the Taiwan Emissions Trading System (TW ETS), and planning a pilot simulation trading platform. TCX also continues to introduce high-integrity international carbon credits that meet industry needs, enhancing international carbon market cooperation and exchange, and promoting the development of Taiwan’s domestic carbon market.
To strengthen the cultivation of carbon management professionals, in 2025, TCX collaborated with the British Standards Institution (BSI) to conduct 33 ISO international standard training programs related to greenhouse gas management, issuing nearly 1,000 certificates. TCX also partnered with the CFA Institute to deliver two CFA Sustainable Investing Certificate (CFA SIC) programs, strengthening industry capabilities in sustainability and carbon management. To further support companies in deepening carbon management capabilities, TCX plans to expand ISO training programs in 2026 in areas such as energy management and circular economy, and to collaborate with the Taiwan Forestry Research Institute under the Ministry of Agriculture to deliver practical training programs on forest carbon sink projects, jointly cultivating domestic carbon sink professionals and guiding the capital market in accelerating the transition toward net zero.
Figure2：TWSE also participated in the 2026 Global Views Monthly Sustainable Living Week by setting up a sustainability exhibition wall at the event venue. The exhibition showcased TWSE’s initiatives in ESG Ecology, ESG InfoHub, and Investment InfoHub, enhancing public understanding of sustainable development.
Conclusion
TWSE will continue to integrate sustainability-related information and initiatives through the ESG Ecology section, deepen the development of sustainable finance and the carbon market, guide companies in accelerating sustainability transformation, and further enhance the international competitiveness of Taiwan’s capital market, laying a solid foundation for Taiwan’s transition toward net zero and a sustainable future.