Past Corporate Governance Evaluation Results: 11th Edition Review and 12th Edition Indicators
This article reviews the 11th Corporate Governance Evaluation results for ROC year 113 and indicator changes for the 12th edition in ROC year 114. ESG Evaluation replaced the system from ROC year 115. For the current framework and new results timeline, see the separate ESG Evaluation article.
What to decide after reading If you came for IFRS, SASB, TCFD, GRI, or ESG reporting requirements, the next step is to turn disclosure items into data collection, section assignments, and review workflows.
Table of Contents
Sustaihub Key Takeaways
- The 11th Corporate Governance Evaluation (公司治理評鑑) for 2024 (ROC year 113) covered 1,749 companies: 976 TWSE-listed and 773 TPEx-listed.
- In the 12th evaluation for 2025 (ROC year 114), the sustainable development dimension's weight rose to 49%, with 9 new indicators, 11 revisions and 14 deletions.
- New indicators for ROC year 114 include annual Scope 3 emissions (4.27), energy management plans (4.28) and internal carbon pricing (4.29). Indicator 4.25 now requires disclosure of Scope 1 and 2 emissions for the past two years, with external verification as an advanced bonus condition, while disclosure with reference to SASB under 4.4 became a basic scoring requirement.
- From ROC year 115 (2026), the evaluation switches to the ESG Evaluation (ESG 評鑑), with first-round results expected by the end of April 2027; these must not be confused with the 12th Corporate Governance Evaluation for ROC year 114.
Sustaihub analysed the sustainability reports of 2,023 TWSE/TPEx-listed companies for the 2025 reporting year in the Sustaihub sustainability report database: 45.4% list third-party verification or assurance and 25.5% are assured by accounting firms (“list” means the verification or assurance provider field in the filed data is populated; it does not mean the assurance covers the entire report). This refers to verification or assurance of the sustainability report itself, which differs from the external verification of Scope 1 and 2 emissions under indicator 4.25, and can be used to compare how widely peers' reports obtain verification or assurance. Sustaihub's analysis of 2025 ESG open data from TWSE and TPEx shows that 65.6% (1,288) of 1,962 TWSE/TPEx-listed companies have disclosed Scope 3 emissions (emissions greater than 0 count as disclosed), which can serve as a peer disclosure reference for indicator 4.27 (Scope 3 categories and annual emissions), newly added for ROC year 114 (2025).
Updated on 6 October 2026. Reframed as a review of historical results, distinguishing the years of the Corporate Governance Evaluation and ESG Evaluation.
Turn this article into your next step
If this article touches disclosure, carbon inventory, or report preparation, use the system or database to check how peers handle it.
This article reviews past Corporate Governance Evaluations. For the current system, see TWSE ESG Evaluation Framework and First-Round Results Timeline; for the following historical round, see Understanding the 12th (ROC Year 114) Corporate Governance Evaluation Results. Official timeline: TWSE Corporate Governance Center.
In 2025, the Taiwan Stock Exchange announced the 11th Corporate Governance Evaluation results for 2024 (ROC year 113), covering 1,749 companies: 976 TWSE-listed and 773 TPEx-listed. For 2025 (ROC year 114), the authorities adjusted several indicators, increasing the sustainable development dimension's weight to 49%. From 2026 (ROC year 115), the Corporate Governance Evaluation became the ESG Evaluation. These changes underscore the need to prepare early to maintain strong evaluation performance.
From Corporate Governance Evaluation to ESG Evaluation
To guide companies progressively towards stronger ESG disclosure and sustainability transition, the authorities decided to build on the existing Corporate Governance Evaluation framework and incorporate environmental and social dimensions. The first ESG Evaluation indicators apply to 2026 (ROC year 115), with results expected by the end of April 2027. The 12th Corporate Governance Evaluation covers 2025 (ROC year 114); the two must not be confused.
According to the Taiwan Stock Exchange Corporate Governance Center's introduction and scoring guide for the first ESG Evaluation (2026, ROC year 115) (December 3, 2025), the weights of the Environmental (E), Social (S) and Governance (G) dimensions moved from 7%, 9% and 84% in the 10th Corporate Governance Evaluation (2023, ROC year 112) to 14%, 23% and 63% in the 12th (2025, ROC year 114), and to 21%, 31% and 48% in the first ESG Evaluation (2026, ROC year 115).
Key Indicator Changes for 2025 (ROC Year 114)
New Indicators
To encourage attention to shareholder value and active shareholder communication:
- New indicator 1.5: “Develop concrete measures to enhance enterprise value, submit them to the board, and disclose the relevant information in the Enterprise Value Enhancement Plan section of the Market Observation Post System.”
To strengthen greenhouse gas disclosure and decarbonisation towards net zero:
- New indicator 4.27: “Disclose Scope 3 greenhouse gas categories and annual emissions for the past year.” Points are awarded for disclosing 2024 (ROC year 113) annual Scope 3 emissions classified under the GHG Protocol or ISO14064-1, with the data coverage specified, such as all facilities and subsidiaries.
- New indicator 4.29: “Introduce internal carbon pricing.” Companies must disclose the pricing rationale, encouraging the integration of climate risks into financial and operational decisions.
To encourage attention to climate change, improve energy efficiency and reduce environmental impacts:
- New indicator 4.28: “Establish an energy management plan.” Certification to an energy management system standard is an advanced bonus condition.
To support employee career development and communication:
- New indicator 4.30: “Establish employee training and development plans to enhance career capabilities, disclosing training areas, scope, content and quantified inputs such as hours, participant numbers and spending.”
- New indicator 4.31: “Conduct regular employee satisfaction surveys and disclose implementation details, such as frequency and coverage, and improvement plans.”
To promote consumer rights protection:
- New indicator 4.32: “Establish a personal data protection policy and disclose its content, applicable parties, including at least customers, responsible department and implementation, such as employee training hours.”
- New indicator 4.33: “Establish policies and complaint procedures to protect consumer or customer rights concerning product and service health and safety, marketing or labelling.”
To encourage TWSE/TPEx-listed companies to establish sustainability committees:
- New indicator 4.34: “Establish a board-level sustainable development committee with at least three members possessing sustainability expertise and capabilities, with at least one director involved in oversight, and disclose its composition, responsibilities and operations.”
Revised Indicators
To improve differentiation, some similar indicators were consolidated, and wording was adjusted to reflect domestic regulations and practice.
- Indicator 1.3 revised to: “The chairperson, a majority of directors and the audit committee convener personally attend the annual general meeting.” Indicator 1.4 deleted.
- Indicator 1.7 revised to: “Upload Chinese and English meeting handbooks and supplementary materials 30 days before the annual general meeting, and Chinese and English annual reports 18 days before the meeting.” Indicator 1.8 deleted.
- Indicator 2.10 revised to: “Disclose the professional qualifications and experience, annual work priorities and operations of audit committee and remuneration 3 committee members.” Indicator 2.13 deleted.
- Indicator 3.5 revised to: “Upload annual financial reports in English 18 days before the annual general meeting.” Indicator 3.6, “Disclose interim financial reports in English within two months after the Chinese filing deadline”, becomes an advanced bonus condition.
- Indicator 3.16 revised to: “Disclose major shareholders and financial, business and corporate governance information on the company's Chinese and English websites.” Indicators 3.17 and 3.18 deleted.
- Indicator 4.4's former advanced bonus condition, “Disclose relevant ESG information in the sustainability report with reference to SASB Standards”, becomes a basic scoring requirement.
- Indicator 4.19 revised to: “Invest in environmentally sustainable machinery or equipment related to energy efficiency or green energy, in Taiwan's green energy industry, such as renewable power plants, or issue or invest in sustainability bonds, and disclose the investments and specific benefits.”
- Indicator 4.25 revised to: “Disclose annual Scope 1 and Scope 2 greenhouse gas emissions for the past two years.” Its advanced bonus condition is revised to: “Obtain external verification of annual Scope 1 and Scope 2 greenhouse gas emissions.”
- Indicator 4.26 adds “Disclose 2030 carbon reduction targets, strategies and action plans” as an advanced bonus condition.
How Should Companies Respond to Higher Disclosure Expectations?
The 2025 (ROC year 114) Corporate Governance Evaluation introduced 9 indicators, revised 11 and deleted 14. With sustainable development gaining weight and ESG Evaluation applying from ROC year 115, disclosure now extends beyond a single evaluation or report. Sustainability reports, corporate governance evaluations, supply chain questionnaires and international ratings are separate, yet their content overlaps substantially.
Without integrating data at its source, companies may face duplicated work and additional staffing costs. Systematic management enables data collected once to be used repeatedly.
Use Digital Tools to Collect Data Once and Apply It Across Requirements
Sustaihub's Syber sustainability management system supports multiple domestic and international frameworks, with three features that help companies achieve compliance:
- Multiple frameworks: Access current domestic and international frameworks and content, including GRI, SASB, TCFD, Corporate Governance Evaluation and IFRS S1 & S2.
- Flexible requirements: Upload custom frameworks, such as supplier or DJSI questionnaires, to review requirements according to company needs.
- Efficient reuse: Map data to multiple international standards, entering it once for use across requirements and improving data inventory efficiency.
With the Syber sustainability management system, companies can store and classify all sustainability-related data in a structured format, avoiding extensive staff time spent repeatedly reviewing and collecting information. It reduces overall processing time, improves internal efficiency and provides comprehensive sustainability support, making it an ideal sustainability reporting collaboration platform.
👉 Apply for a trial of the Syber sustainability management system and begin your digital sustainability journey
Through digitalisation, AI and cloud integration, Syber helps you overcome traditional limitations and produce more persuasive sustainability reports that reflect your company's values, supporting your sustainable development efforts.
Sources:
TWSE / Corporate Governance Center
TWSE / Sustainable Development Action Plans for TWSE/TPEx-Listed Companies and Recent ESG Initiatives
References: 11th Corporate Governance Evaluation Results for 2024 (ROC Year 113)
Corporate Governance Evaluation ESG Evaluation Corporate Governance Indicators Corporate Governance Results
FAQ
View AllWhat was the sustainable development dimension's weight in the ROC year 114 Corporate Governance Evaluation?
The sustainable development dimension's weight increased to 49% in the 2025 (ROC year 114) Corporate Governance Evaluation. This reflects the authorities' emphasis on corporate sustainability and encourages stronger disclosure in this area.
When did the Corporate Governance Evaluation become the ESG Evaluation?
The system became the ESG Evaluation from 2026 (ROC year 115), with the first results expected by the end of April 2027.
Which indicators were added to the ROC year 114 Corporate Governance Evaluation?
The ROC year 114 Corporate Governance Evaluation added 9 indicators, including concrete measures to enhance enterprise value, annual Scope 3 greenhouse gas emissions, internal carbon pricing, energy management plans, and employee training and development plans to strengthen career capabilities.
Turn Sustainability Disclosure into a Collaborative Workflow
Use Syber to manage section ownership, metric data, review records, and disclosure progress, turning IFRS, SASB, and GRI requirements into a team workflow.
How to decide the next stepTurn the disclosure requirements in the article into sections, data sources, and owners first. If collaboration, version control, or verification is involved, then evaluate whether a reporting workflow is needed.