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Climate Change Adaptation Product Utilization Efficiency
Walrus Pump recognizes the significant impact of climate change on the global economy and society. We are committed to a sustainable future and are actively working with stakeholders to achieve net-zero emissions by 2050. We've taken several key steps towards this goal: We have embraced transparency by initiating climate change-related information disclosure, aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. To guide our efforts, we conducted a comprehensive greenhouse gas (GHG) inventory for our operational bases in Taiwan. One focus of these initiatives is on developing and providing energy-efficient pump solutions that empower our clients to reduce their environmental footprint.
1.51 % Energy-efficient motor revenue increased by
3 + We successfully completed process optimization projects
3 We expanded GHG emissions inventory to Scope include emissions
Climate Governance Framework
Walrus Pump uses the Board of Directors as the highest supervisory unit for corporate sustainable management strategies and practices. In accordance with the "TCFD" framework, we list climate change impacts as one of the company's risks. In the future, we will further integrate existing internal control systems to improve the management of climate change risks and opportunities. The Strategy Committee under the Board of Directors serves as the main governing body responsible for overseeing sustainability-related issues. It leads the Sustainable Development Committee and the 3 functional teams, providing a platform for cross-departmental communication and management in terms of corporate sustainability issues. Furthermore, the Strategy Committee is responsible for executing and promoting material topics on sustainability, risk issues, climate-related issues, GHG inventory, and regularly reports performance to the Board of Directors.
Identification and Strategy Management of Risks and Opportunities
In 2022, following TCFD guidelines and industry best practices, Walrus Pump conducted a comprehensive analysis. We examined domestic and international benchmarks within the manufacturing industry and value chain, while also considering industry features and our own operational context. This collaborative effort, involving the Strategy Committee, ESG Committee(now the Sustainable Development Committee), and three functional teams, identified significant climate-related risks and opportunities associated with the extreme weather events impacting our Taiwanese facilities. Building upon the 2022 assessment, we have continuously expanded the scope of our greenhouse gas inventory in 2023 to further quantify potential risks. Looking ahead, we are committed to a deeper analysis of climate change's potential financial impact on our operations. This will inform strategies to strengthen organizational resilience, enhance adaptation capabilities, and ultimately, develop a comprehensive action plan for addressing climate change challenges and building long-term climate resilience on the organization level.
GHG inventories
In 2022, Walrus Pump conducted a voluntary greenhouse gas (GHG) inventory of all operating sites in Taiwan, following the ISO 14064-1 standard. We plan to engage a third-party verification body to verify our emissions data starting in 2024. Our inventory identified the following key findings: Scope 1 Emissions (Direct) account for approximately 16.65% of our total emissions and include sources like gas, diesel generators, vehicle fuel, refrigerants, and septic tanks. Scope 2 Emissions (Purchased Electricity) represent the largest source (around 62.09%) due to our reliance on electricity in the water pump manufacturing process. In 2023, we expanded the inventory to include employee commuting and upstream emissions from purchased electricity. Scope 3 and 4 Emissions now contribute approximately 21.26% of the total inventory.
We are actively developing a greenhouse gas reduction plan for 2024 and beyond. We aim to achieve a 20% reduction in organizational GHG emissions by 2025 through a multi-pronged approach, including process optimization and equipment upgrades that reduce GHG emissions and resource consumption. This aligns with our long-term commitment to achieving net-zero emissions by 2050.
