Risk Management
Operational Risk Management
In order to identify and control various risks, and to actively respond to all kinds of impacts, and to ensure the Company's operation grows steadily, TXC has formulated a risk management policy, and established a risk management mechanism that identifies, measures, monitors, and controls risks, and has structured an integrated risk management system.
The Company has established a Risk Management Organization with the President and Department heads. Assigned by the Chairman, in charge of the promotion and operation of risk management plans.
To address the different risks faced by each business operation (including marketing, production, human resource planning, new product development progress, and financial and accounting control), we have developed advanced and risk-sensitive procedures and standards for monitoring, evaluating, and controlling risks, in addition to the existing systems to regulate and handle them. Our goal is to establish a cost-effective business operation model that takes into account both safety and efficiency, such as strengthening the establishment of information systems, enhancing early warning and monitoring capabilities, and promoting ISO22301 and ISO31000 risk management systems related to risk identification and control. We have also completed the establishment and certification of ISO27001 Information Security Management System and the Authorized Economic Operator (AEO).
Key Points for Sustainable Operation
TXC has successfully identified important risks through the company's risk control procedures and formulated and implemented countermeasures. It held bi-annual operational risk management meetings to discuss, evaluate, and track the degree of risk, impact and implementation of countermeasure. Finally, all major events will be reported to the Board of Directors.
- 2022.03.30 Risk management regular meeting was convened. (U.S.-China trade war/Russo-Ukrainian War/China lockdown/GHG emission/COVID-19 response)
- 2022.09.28 Risk management regular meeting was convened. (slowing market demand/operations cost affected by inflation situation/ESG and carbon tax/COVID-19 response)
- 2022.11.07 The 2022 operational risk management execution status was reported in the board of directors meeting.
