TECO Named in S&P Sustainability Yearbook for 5th Time, Ranks in Global Top 1%

Associated Press

22-05-2025

TAIPEI, May 22, 2025 /PRNewswire/ -- The S&P Global Sustainability Yearbook Awards Ceremony was held today (22nd) in Taipei to honor companies listed in the 2025 edition of the Yearbook. TECO Electric & Machinery Co., Ltd. (TWSE: 1504) was named to the Yearbook for the fifth consecutive year by global index and ratings agency S&P Global. TECO also earned the distinction of being ranked among the top 1% of sustainable companies worldwide, one of only 11 companies from Taiwan to receive this recognition.
TECO Chairman Mr. Morris Li stated that sustainability is at the core of TECO's strategy through green innovation. The company's consistent inclusion in international sustainability rankings highlights its leadership in ESG practices. Looking ahead, TECO will continue to focus on electrification, intelligence, and green energy, working with global partners to build a resilient and sustainable industrial ecosystem.
This is the first time the S&P Global awards ceremony was held in Taiwan. The trophy was presented by Robert Dornau, Head of Corporate Engagement, S&P Global Sustainable1, recognizing companies for their outstanding contributions to sustainability. TECO was represented by Director of the ESG Office, Mr. Ang-Ting Shih. The Sustainability Yearbook rankings are based on ESG scores generated through the Corporate Sustainability Assessment (CSA), which is also used in the Dow Jones Best-in-Class Indices. The assessment evaluates a company's sustainability performance across environmental, social, and governance dimensions. In addition to the Yearbook honor, TECO has also been selected for the Dow Jones Emerging Markets Best-in-Class Index for five consecutive years and has consistently ranked first in ESG performance among electromechanical companies in emerging markets, further underscoring its leadership in global sustainability.
TECO has actively embedded sustainability into its core operations, extending its practices from Taiwan across its global businesses. The company has set a goal to achieve net-zero emissions across the group by 2050. In recent years, TECO has made continuous progress in reducing factory emissions and developing renewable energy infrastructure. In 2024, it completed 5.3 MW of new solar installations in the United States and China, bringing its global total to 15.046 MW. The company is on track to meet the goal of increasing renewable energy generation capacity to as much as 30% of total electricity consumption by 2030. Additionally, TECO has implemented an internal carbon pricing mechanism at NT$1,600(approximately USD53) per ton of CO₂ and established an internal carbon fund to support low-carbon innovation and R&D. Revenue from low-carbon products now accounts for 73.8% of its total product revenue.
On the social responsibility front, TECO upholds the philosophy of shared value with stakeholders. Through the TECO Technology Foundation, the company actively promotes education, talent development, and social welfare. TECO's annual 'Net Zero Tech International Contest' draws nearly 1,000 participants from around the world, further amplifying the company's global influence in sustainability.
S&P Global emphasized that companies in the electrical components and equipment industry provide innovative solutions for improving industries efficiency in manufacturing and process. The industry plays a vital role in the global transition to clean energy and in modernizing energy infrastructure. In response, TECO has aligned its business with the 'B2B2S' model-Business to Business to Sustainability-deeply integrating ESG strategies across its operations, extending to customers and suppliers, and building a low-carbon value chain. The company is committed to advancing a broader societal shift toward sustainability and accelerating the transition to a net-zero future.
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SOURCE TECO Electric & Machinery Co.