STACS ESGpedia join forces with JCI Taipei to empower Corporate Sustainability and Sustainability Reporting among Taiwanese businesses and manufacturing supply chains

As a first step, JCI Taipei has produced its ISO14064 aligned GHG report through a fully digitalised GHG calculation and reporting process on ESGpedia

In a strategic move that promises to help Taiwanese businesses and manufacturers navigate the rise in ESG regulations and sustainable procurement practices to catalyse growth opportunities, Asia’s leading Environmental, Social, and Governance (‘ESG’) data and technology solutions company, STACS, has joined forces with JCI Taipei, Taipei International Youth Chamber of Commerce, to utilise STACS’s ESGpedia platform to facilitate corporate sustainability and sustainability reporting for Taiwanese businesses and manufacturers with supply chains.

Amidst increasing carbon tax and regulatory requirements, and risk of losing competitiveness in the global supply chains, Taiwanese businesses and manufacturers are under increasing pressure to embrace sustainability with full supply chain transparency.

Under the Carbon Border Adjustment Mechanism (CBAM), exports to Europe will be subjected to carbon tax on their emissions starting 2026^[1], posing major trickle-down effects for Taiwanese businesses by affecting export competitiveness. The Taiwan Financial Supervisory Commission has also announced that it is taking a phased adoption approach in incorporating new global sustainability reporting standards, with Scope 3 emissions reporting due to become mandatory under regulatory standards from 2025 onwards^[2].

While SMEs play a pivotal role in the Taiwan economy, accounting for 98 percent of existing businesses in the country, many of them lack the expertise and resources to start on sustainability. Recognising this, STACS and JCI Taipei have taken active steps to support SMEs on their sustainability and decarbonisation journey.

As a first step of the partnership, JCI Taipei has produced a ISO14064 aligned report through a fully digitalised greenhouse gases (‘GHG’) calculation and reporting process on ESGpedia. The report produced under the renowned ISO standard serves to recognise JCI Taipei’s commitment towards establishing, validating, and reporting its GHG emissions in accordance with international standards.

Through the partnership, JCI Taipei will promote STACS’s ESGpedia platform to enable JCI Taipei’s ecosystem of businesses and manufacturers to easily kickstart their ESG reporting journey and produce their ISO14064 reports. Through ESGpedia, Taiwanese businesses can get free access to a digital platform which simplifies various ESG standards and frameworks, as well as automatically converts operational data like fuel, refrigerant, and electricity consumption to GHG emissions under the standard GHG Protocol, localized to Taiwan.

Scope 3 GHG calculation is typically a time-consuming and complex process, requiring much to-and-fro and manual data collection from each supplier. Businesses and manufacturers can leverage ESGpedia’s premium services like Supplier Engagement Module and Scope 3 carbon footprint calculator to digitally streamline the end-to-end process, from data collection, to mapping both the value chain and product lifecycle, getting an accurate Scope 3 calculation that is aligned with industry methodologies, and to taking actions to actively engage suppliers in order to drive compliance with regulations across the entire supply chain.

Benjamin Soh, Managing Director at STACS ESGpedia, said: “Within the realm of high-tech manufacturing, Taiwan leads with its advanced technology, coupled with its highly skilled workforce. As governments across the world implement ESG and reporting regulations, businesses and manufacturers in Taiwan are faced with increased urgency and opportunities in establishing their competitiveness in green manufacturing. We are delighted to be partnering with JCI Taipei to empower businesses in Taiwan in their corporate sustainability and sustainability reporting journey, aligned with international frameworks and standards, in order to succeed and maintain competitiveness in the global supply chain.”

Benson Ying, President at JCI Taipei, said: “We have partnered with STACS ESGpedia, an expert in sustainable solutions for businesses in the Asia-Pacific region, to sign an MOU aimed at assisting Taiwanese enterprises in accelerating their sustainable transformation. This collaboration seeks to provide guidance to Taiwanese businesses to swiftly implement sustainable practices in alignment with international and national standards on carbon policies. Ultimately, it aims to enhance the competitive advantage of domestic export trade and promote environmental friendliness.”

[1] https://www.whitecase.com/insight-alert/eu-agreement-carbon-border-adjustment-mechanism
[2] https://www.taiwannews.com.tw/news/4959260

For further information, please contact:
STACS ESGpedia (www.stacs.io)
Grace Lim, Senior Marketing Manager
Email: [email protected]

JCI Taipei (www.tpejc.org.tw)
Oscar Wang, 2024 LOMs and B.R.C Vice Chairman
Email: [email protected]

About STACS
STACS (Hashstacs Pte Ltd) is Asia’s leading ESG data and technology company, headquartered in Singapore. Its ESGpedia platform powers the ESCAP Sustainable Business Network (ESBN) Asia-Pacific Green Deal digital platform, the Asia-Pacific Single Accesspoint for ESG Data (SAFE) initiative, and the Singapore-Australia Go-Green Co-Innovation Programme. With more than 5 million sustainability data points, ESGpedia serves as the Nexus of ESG, digitally empowering corporates, SMEs, and the financial sector to ensure compliance towards ESG regulations and attain their ESG goals. ESGpedia is GRI-licensed. For more information, please visit www.stacs.io.

About JCI Taipei
JCI Taipei is a non-profit international non-governmental organization composed of young people aged 18 to 40 years old. JCI Taipei encourages young people to become active citizens and participate in social and economic development, international cooperation, friendship, mutual assistance, and mutual understanding. Adhering to the purpose of the association and the highest ideal of “training yourself and serving the people”, it has achieved considerable outstanding performance in both the political and business circles; with outstanding results so far, it encourages young people to serve the society, create careers, connect and cooperate to create business opportunities, and carry forward outstanding achievements and contributions. Over the past 68 years, it has cultivated many business and government leaders such as Acer Chairman, Hi-Lai Hotel Groups CEO, former prime minister of Taiwan Government etc. in various fields of Taiwanese society.