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ACGA released its preview of “CG Watch 2020”Taiwan cumulative effort has been recognized by ACGA

     The Asian Corporate Governance Association (“ACGA”) released its preview of “CG Watch 2020” on November 25, a biennial investigation and rating survey on corporate governance performances in the Asian markets. Among 12 regional markets, Taiwan ranks 4th in ACGA‘s survey result this year. Improving in market ranking, Taiwan scored 62.2 points this year, the best since 2003, edging even closer to Hong Kong (63.5 points) and Singapore (63.2 points). Australia and Taiwan were the only two countries to improve in every categories among 12 regional markets.
     According to ACGA’s preview of the upcoming “CG Watch 2020”, significant gains in Taiwan corporate governance are as follows:
1.Taiwan achieves the biggest increase in score, and tops the scoring (68 points) in the “Government & Public Governance” category. Additionally, Taiwan scored second place (66 points), very close to Hong Kong (69 points), in the “Regulators” category.
2. This year’s ACGA preliminarily review also mentions that the launch of the “Corporate Governance 3.0-Sustainable Development Roadmap” that comprehensively focuses on the concrete ESG ecosystem and sustainability reporting. The ACGA also recognizes the FSC’s effort to broaden the adoption scope of mandatory CSR filing reporting (GRI-aligned) for listed companies.
3.The CG Watch 2020 ranking is as follows:

             ACGA CG Watch 2018/2020

        2020

         2018

1.

Australia(74.7)

1.

Australia (71)

2.

Hong KongSingapore(63.563.2)

2.

Hong Kong (60)

3.

-

3.

Singapore (59)

4.

Taiwan(62.2)

4.

Malaysia (58)

5.

MalaysiaJapan(59.559.3)

5.

Taiwan (56)

6.

-

6.

Thailand (55)

7.

India(58.2)

7.

JapanIndia (54)

8.

Thailand(56.6)

8.

-

9.

Korea(52.9)

9.

Korea (46)

10.

China(43.0)

10.

China (41)

11.

Philippine(39.0)

11.

Philippine (37)

12.

Indonesia(33.6)

12.

Indonesia (34)

      Effective corporate governance is key to corporate sustainability and a sound capital market. This August, the FSC has launched the three-year "Corporate Governance 3.0 - Sustainable Development Roadmap" to build a sound corporate governance ecosystem and enhance corporates’ resilience on ESG risks and align with the megatrends and international norms. This cumulative effort has been recognized by ACGA this year. The FSC will continue to closely monitor global trends and work with capital market stakeholders to build and sustain on environment of corporate governance integrity and transparency to create an even more competitive capital market in Taiwan.

Contact: Wen-Cheng Lin, Head of Corporate Finance Division, Securities and Futures Bureau
Telephone: (02)2774-7311
Please direct all correspondence and inquiries to
http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
 
Visitor: 871   Update: 2020-11-25