Tung Ho Steel respects the rights and interests of all stakeholders and understands their reasonable expectation and needs through appropriate communication methods. All the stakeholders’ needs and expectations of the Company are properly responded to and will serve as a reference for the decision making of the company in the hope of creating and sharing the results of sustainable management with all our stakeholders.
Identification of Stakeholders
The identification of stakeholders of Tung Ho Steel was conducted by external ESG experts through referring to the stakeholders identified by the same trade and the scoring of the actual and potential positive as well as negative impacts of the stakeholders on operating activities of the Company. The scores ranged from 1 point (no impact) to 5 points (extreme impact). The overall score was based on the sum of the negative impact (actual/potential) and positive impact (actual/potential) of each stakeholder, and those with more than 10 points were ranked as major stakeholders. After discussions and review by the senior executives and department heads of the Company, 10 major stakeholders were identified, including shareholders, government agencies, employees, customers/distributors, iron and steel industry, suppliers, contractors/ subcontractors, media, community residents and academic & research institutions.
Consultation & Grievance Channels for Stakeholders
Communication with Stakeholders
Tung Ho Steel attaches great importance to the stakeholders’ rights and opinions and has set up public and direct communication channels to provide information concerning the Company’s Sustainable Development management. In addition, by understanding the issues of concern to the stakeholders, we continue to review and improve our performance in Sustainable Development. The communication performance in 2022 has been reported at the 27th meeting of the 24th board of directors on May 9, 2023.