TAYA Group’s Shen, Shang-Hung: Do it Right Early On and the Results Will Speak for Themselves - the Company’s ESG Vision【NOWnews】
TAYA Group’s Shen, Shang-Hung: Do it Right Early On and the Results Will Speak for Themselves - the Company’s ESG Vision
Reporter Hsu, Jia-Chen / Taipei
Issue Date: 2022/04/25
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In recent years, international organizations and governments have been actively promoting ESG (Environmental , Social, and Governance), and ESG has become a hot new trend in investment circles. As for the wire & cable and energy major TAYA Group, the company’s transition from energy demander to supplier, and its successful venture into the solar energy industry has been successful in recent years, gradually becoming a profit-making engine for the group. In fact, it all started 10 years ago with the formulation of the Group's vision. At a time when no one knew about ESG, Ta Ya's mission and vision for itself unexpectedly incorporated the spirit of ESG.
The TAYA Group has been operating in Taiwan for more than six decades, and is now in its 67th year. Few people may be aware that Ta Ya's product portfolio covers public construction and industry, consumer goods, automotive and electrical and electronic products. In addition to manufacturing power cables for energy transmission and enameled wires for energy conversion, Ta Ya has recently expanded into the energy sector. Ta Ya's products are commonly found in cell phones, headphones, electric scooters, and rice cookers. Although they are not visible from the outside, they are an indispensable part of the devices.
In the past two years, despite the COVID-19 epidemic not abating, TAYA Group has transcended from the cold image of traditional industries and held a wire art exhibition based on wires with copper cores. The company even held a "Transparent Living Exhibition" at the National Taichung Theater to showcase the beauty of transmission by combining enameled wire with glass art. What the company wants to convey is that Ta Ya, as always, continues to transmit the power of Taiwan's stability and continues to support the good daily life of this land.
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What kind of company does TAYA Group want to be? What is the vision and mission of the Group? In fact, according to TAYA Group Chairman Shen, Shang-Hung, about a decade ago, when the company's vision and mission were being reviewed in 2012 and 2013, the intent was not to promote ESG because no one was advocating for ESG at that time. One could even say no one knew what ESG was. In retrospect, the spirit of ESG had been incorporated inadvertently.
Shen recalled that when he first set the company's vision and mission, in light of the relatively stable development of the company’s core business, he decided to move from the product-oriented business scope of wire and cable and enameled wire to the direction of energy sector. From energy transmission to energy conversion and energy storage to energy management, he hoped that Ta Ya would become the leading brand of energy connections. Therefore, from that time onwards, the company gradually ventured into the wind power and solar energy business, and even set up and invested in Union Storage Energy System Ltd. in 2015 and 2016, targeting the energy storage market.
"Ta Ya's participation and involvement in solar energy was not a rush to ride the ESG wave of the past two years, but actually started very early," Shen emphasized. As for the second vision, he teased that his vision is "very strange" and "abstract"! The Group hopes to become a creator of harmonious environment and pristine homeland, and to become an enterprise that cares about the environment. TAYA Group hopes to become a catalyst that attracts more people to become involved. "I didn't know it at the time, but in retrospect, this is the 'Environment' in ESG," he remarked.
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Shen further explained that the TAYA Group did not only set up the TAYA Pristine Homeland Foundation to engage in sponsorship of various eco-friendly activities, the promotion of education, the cultivation of environment-friendly talents, the Green Inside Project or Electrical Safety Inspection for Old Homes; in fact, the vision influences the company's business, such as product development, including the development of lead-free products and eco-friendly cables. In addition, it also affects the way Ta Ya utilizes resources. For example, the company has been conducting carbon footprint certification and promoting energy saving and carbon reduction initiatives for a long time, so the factory equipment has been replaced with newer models, hoping to make adjustments towards a more energy-efficient model. Of course, such a vision also influences business investment, which is why the group is investing in off-shore wind and solar power projects.
Shen hopes that the Group's vision and mission will positively influence the way of life of its employees, and that they will naturally become part of the cause for a more environmental-friendly world. A vision guides a company on what to do, what it wants to achieve, and what it wants to become. He hopes to realize Ta Ya’s vision step by step while ensuring the company earns the trust of its employees, customers, shareholders, and society. "I don't want to be a more profitable business," he quips with a smile. But that's what makes him feel more meaningful.
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Shen believes that business management is not very difficult or particularly complicated, in fact, it is to "talk about what we believe in, and do what we believe". One should not talk the talk but not walk the walk; instead, make everyone understand what you believe in. When employees understand, they will execute. With the belief that "do it right early on and the results will speak for themselves", Shen smiled and recalled that he "asked for trouble" by setting up three independent director seats as early as 2013, because he was confident that Ta Ya could become a trusted company. Even though the company is considered to be a traditional industry company, it has even obtained the ISO 27001 Information Security Management System certification. The vision and mission that TA YA set out more than 10 years ago has gradually blossomed into something fruitful!
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