PLANET Technology Corporation, a global leading IP-based networking company, was once again ranked by the sponsor CommonWealth Magazine no. 1 in the ‘2022 Excellence in Corporate Social Responsibility Award’ for the second year in a row. PLANET is recognized for its effort on actively and continuously improving the ESG (Environmental, Social and Governance) performance. This is also the 16th consecutive year that PLANET has received the award, enhancing the value of corporate sustainable development.
Strategically Promote Environmental Sustainability to Reach Net Zero by 2050
PLANET aims to achieve net-zero emissions by 2050 by various ways, including applying the principle of green product development, building a sustainable and green supply chain management platform, gradually completing the supply chain greenhouse gas inventory in 2023 and reducing product carbon footprint by 2025. To reduce greenhouse gas emissions, PLANET has adopted renewable energy in 2022, realizing the RE10 target, and is committed to achieving RE100 by 2050 using 100% renewable energy.
PLANET also strategically promotes the environmental sustainability action plan by implementing the “Good Air and Happy Farm Life in Taiwan” program which integrates environmental protection organizations, enterprises, government and farmers to assist farmers in decomposing rice stubble with decomposing bacteria instead of burning it in order to reduce carbon emissions and air pollution. Utilizing this method also improves soil health and protects soil ecology. In 2022, PLANET brought in 77 companies to participate and pledged a total of 4,100 hectares of rice fields in Hualien and Changhua counties in Taiwan to help reduce carbon emissions by about 36,900 metric tons, creating a sustainable environment and exerting substantial influence.
Actively Addresses Climate Change Issues to Strengthen Sustainable Governance
PLANET continues to improve corporate governance by actively formulating response strategies for the risks and opportunities brought by climate change while strengthening risk control and continuous business operations. At the same time, the SASB (Sustainable Accounting Standards Board) standards and the TCFD (Task Force on Climate-related Financial Disclosures) structure were incorporated into the company’s governance mechanism and disclosed it in PLANET’s 2021 sustainability report, which has passed SASB verification and TCFD pre-audit by the third party.
Furthermore, PLANET has strengthened its information security risk management by obtaining the ISO 27001 information security management system certification and IEC 62443-4-1 industrial network product security development system certification in 2022. For two consecutive years within 2021 and 2022, PLANET has been ranked among the top 5% of the TPEx-listed companies in the ‘Corporate Governance Evaluation’ in Taiwan, affirming the strengthening of its sustainable governance and corporate resilience.
Sustainable Talent Development and Educational Assistance for Children to Promote Social Influence for a Long Term
PLANET develops a happy, safe and healthy workplace while sustainably cultivating key talents to encourage employees to show their full potential. PLANET has implemented the “Health 360” program as a long-term plan to comprehensively care for the health of employees and their families. During the past two years amidst the COVID-19 pandemic, PLANET has improved employee care by formulating a business continuity plan to maintain the company’s continuous operation while providing equal career development opportunities for employees.
In the aspect of social involvement, PLANET utilizes its core management capability in countering educational disadvantages. PLANET has been promoting the “Educational Program for Disadvantaged Children” in Xindian and the greater Taipei area for the past 18 years, assisting over 11,000 children who are slow learners or those with emotional or behavioral problems to help them regain self-confidence in learning.
Additionally, PLANET has been a sponsor for elementary and middle schools in the rural Changhua region by providing monthly reading material to help students develop their reading ability and habits while expanding their global knowledge. “An individual can’t do everything in the world”. In 2021, Chairman & CEO, Jack Chen, called upon 100 domestic and international enterprises to donate a total of more than 4,000 children’s magazines, benefiting more than 120,000 school children while helping to improve the future of 460 schools in rural areas. These actions show the value of integrating the strength of schools and enterprises can help the positive growth of social human resources and exert long-term substantial social influence.
The ‘Excellence in Corporate Social Responsibility Award’ organized by CommonWealth Magazine is by far the largest CSR and ESG performance evaluation designed for Taiwan’s companies. It is benchmarked to international standards of the UN Global Compact, the OECD Guidelines for Multinational Enterprises, Dow Jones Sustainability Indices, UN SDGs and other international assessments. Corporate sustainability performance is reviewed based on 4 criteria: Corporate Governance, Corporate Commitment, Social Involvement, and Environmental Sustainability. Receiving the recognition of best ESG practices once again, PLANET will keep optimizing its business value to help achieve a better society and a sustainable earth as a whole.