Taipower

Based on forward-looking projections of its assets, Taipower is forecast to continue relying on fossil fuels in the long term. As a result, its locked-in emissions are expected to moderately exceed its 1.5°C carbon budget over the period 2022-2037. The company’s emissions intensity remained static between 2017 and 2022 and its emissions intensity is projected to only reduce by approximately 7% between 2022 and 2027 due to a small reduction in its share of coal generation. However, the company must reduce its emissions intensity by approximately 27% to align with its 1.5°C pathway in 2027.

Taipower aims to reduce its thermal unit’s GHG emissions intensity by 15% by 2025 and 20% by 2030, compared to 2016 levels. However, the company should develop a long-term target that aligns with its 1.5°C pathway and covers its scope 1, 2 and 3 emissions. Additionally, the company should set intermediate targets at gaps of no more than five years to incentivise near-term action on longer-term goals.

Approximately 83% of the power generated by Taipower in 2022 was from fossil fuels. As of 2022, the company has 2.5 gigawatt (GW) of installed renewable energy capacity, 2.9 GW of nuclear power capacity, and 2.6 GW of pumped water storage, representing 23.3% of its total installed energy capacity. It aims to increase its renewables capacity to 3.1 GW of its total installed energy capacity by 2025 and 4.4 GW by 2030. However, fossil fuels still seem to play a dominant role in the company’s energy mix. Taipower should increase its efforts to develop renewable energy assets and develop plans to reduce fossil energy capacity.

Taipower aims to reduce the GHG emissions intensity of its fossil fuel power plants by 15% by 2025 and by 20% by 2030, compared to 2016. The company plans to reach net-zero electricity by 2050 by improving energy efficiency, reducing coal power plants and increasing installed capacity of renewable energy sources.

Taipower plans to provide 6.5 gigawatts (GW) of grid-connected capacity from solar power by 2025, and another 11 GW of grid-connected capacity from offshore wind power by 2030. The company aims to reach 3.1 GW of total installed renewable energy capacity by 2025 and 4.4 GW by 2030. It also plans to continue its investment in energy efficiency improvements, including smart meter installations.

Approximately 83% of the power generated by Taipower in 2022 came from fossil fuels. The company has 2.5 GW of installed renewable energy capacity, 2.9 GW of nuclear power capacity, and 2.6 GW of pumped water storage, representing 23.3% of its total installed energy capacity. The company has been implementing its Smart Grid Master Plan, covering grid management, energy storage systems and demand side management.

The company’s emissions intensity from its own power generation as well as purchased power remained static between 2017 and 2022 due to the little change in its energy mix. Its share of fossil fuel-fired power remained static at around 81%-82%.

Taipower has set targets to reduce its thermal unit’s GHG emissions intensity and realise net-zero electricity by 2050. Its transition plan includes quantitative measures to improve energy efficiency, replace traditional thermal power plants and increase installed renewable energy capacity. However, fossil fuels are still projected to play a dominant role in the company’s energy mix in the near future. The company also lacks stakeholder engagement strategies on emissions reduction.

The company publicly discloses a commitment to engaging in social dialogue with workers and unions. However, no relevant disclosure was found regarding the categories of stakeholders it engages with on a just transition. Nor was there any evidence to show the company’s ongoing social dialogue and meaningful engagement with affected stakeholders. No evidence was found of the company undertaking just transition planning to mitigate the social impacts of the low-carbon transition on workers, affected stakeholders and its business relationships. Additionally, no evidence was found to demonstrate the company’s engagement in social dialogue and with stakeholders in just transition planning.

No public commitment by the company was found stating its intention to create and support access to green and decent jobs as part of the low-carbon transition. Moreover, no evidence was found of the company’s actions to promote these jobs in a way that ensures gender balance and inclusion of vulnerable groups. Additionally, no relevant disclosure was found of the company’s assessment of employment dislocation risks.

No relevant disclosure was found to show if the company identifies impacts of the low-carbon transition on social protection for workers and affected stakeholders, nor how it contributes to social protection. Additionally, no evidence was found that the company expects its business relationships to contribute to the social protection of their workers and affected stakeholders. No relevant disclosure was found to show how the company identifies any misalignment of its lobbying activities with policies and regulations that support the just transition, nor of the measures it takes to address misalignment. Furthermore, no evidence was found that the company lobbies for policies and regulations for green and decent job creation; retention, education and reskilling; and social protection for workers.

No company policies or commitments related to respect for human rights were found in the public domain. This includes the necessary policies and systems by which the company can ensure respect for basic human rights in its operations and supply chain.

The company does not have a public commitment towards ensuring worker health and safety. There is, however, some evidence of its support for gender equality, with over 30% women’s representation at board level. It also discloses some information on collective bargaining and workforce diversity. However, the company can strengthen its disclosure on these subjects, as well as on its living wage and working hours practices.

No company policies or commitments related to key ethical business topics – personal data protection, tax, bribery and corruption, and lobbying and political engagement – were found in the public domain. This includes ensuring ethical business conduct throughout its operations and in its business relationships.