Sustainability Menu
Sustainability Menu
Sustainable development is UMC’s highest priority, and robust risk management and appropriate crisis management are the major cornerstones to ensure sustainable operation. In order to reduce the negative impact and loss caused by major risk events, protect the rights and interests of stakeholders and maintain the company's image, UMC actively performs enterprise risk management, pre-crisis prevention and practice drills to facilitate timely and appropriate response capabilities for any possible crisis.
The Enterprise Risk Management Committee submitted the company’s risk management policies, mechanism/ procedures, scope, and organizational structure in the company's enterprise risk management manual to the Nominating Committee and the Board of Directors, and received approval on February 26, 2020.
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Enterprise Risk Management Policies |
Through risk management methods and organizations, UMC effectively prevents and controls enterprise risks, identifies possible opportunities, comprehensively implements them in daily operations, shapes and deepens risk culture, and establishes complete and transparent risk communication with all stakeholders to maintain steady operations.
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Enterprise Risk Management Organizational Structure |
In accordance with the Company’s risk management policy, the Enterprise Risk Management Committee is responsible for coordinating relevant divisions and senior representatives of various organizations to identify internal and external risks, and to facilitate response measures for major risk affecting the entire organization. The Enterprise Risk Management Committee reports to the ESG Steering Committee on a quarterly basis to ensure alignment with the company's sustainability strategy and reports to the Board of Directors at least once a year to ensure alignment with the risk management policies, and implementation and effectiveness of risk management measures. UMC also incorporates internal audit and internal control functions to ensure that the risks associated with operations are effectively controlled.
* The Enterprise Risk Committee has reported to the ESG Steering Committee quarterly since 2021. |
