Faraday Adopts TNFD Nature-related Financial Disclosures to Support Ecological Sustainability
Hsinchu, Taiwan, Jan. 30, 2024
Faraday Technology Corporation (TWSE: 3035), a leader in ASIC design services and IP solutions, announced its early adoption of the TNFD (Task Force on Nature-related Financial Disclosures) framework. The unveiling of the first list of organizations embracing TNFD at the World Economic Forum Annual Meeting included a total of 320 companies worldwide, with 14 from Taiwan. Faraday not only secured a spot on the list but also became the first ASIC design service company globally to advocate for TNFD.
In an effort to protect the Earth's natural resources and biodiversity, and to prevent ecological imbalances leading to global disruptions, organizations such as the United Nations and the World Wildlife Fund jointly introduced the TNFD initiative in 2021. After finalizing the framework in September 2023, TNFD became the standard for companies to disclose natural risks and related strategies.
Recognizing the urgent need for a comprehensive approach to address natural losses and climate change issues, Faraday joined the TNFD platform in April 2023, actively promoting and advocating for natural financial disclosures. By September of the same year, Faraday had adopted the TNFD framework, disclosing dependencies, impacts, risks, and opportunities related to nature in accordance with the guidelines. In recent years, Faraday has been actively responding to international calls for nature conservation by incorporating the TCFD, TNFD, and SASB financial disclosure standards. The company is committed to fulfilling corporate social responsibility and leveraging its core technology to develop low-power IP, assisting customers in creating key chips for green and sustainable applications, and implementing green production to support ecological sustainability.
“Faraday not only adheres to TNFD disclosure standards but will continue to deepen its commitment to ecological sustainability, contributing its efforts to the global conservation of the environment,” said Steve Wang, CEO of Faraday. “We look forward to more companies and organizations joining this initiative, collectively safeguarding our precious Earth and biodiversity.”
About Faraday Technology Corporation
Faraday Technology Corporation (TWSE: 3035) is dedicated to the mission of benefiting humanity and upholding sustainable values in every IC it handles. The company offers a comprehensive range of ASIC solutions, including total 3DIC packaging, Neoverse CSS design, FPGA-Go-ASIC, and design implementation services. Furthermore, its extensive silicon IP portfolio encompasses a wide array of offerings, such as I/O, Cell Library, Memory Compiler, ARM-compliant CPUs, LPDDR4/4X, DDR4/3, MIPI D-PHY, V-by-One, USB 3.1/2.0, 10/100 Ethernet, Giga Ethernet, SATA3/2, PCIe Gen4/3, and SerDes. For further information, visit www.faraday-tech.com or follow Faraday on LinkedIn.
Copyright © Faraday Technology Corporation. All rights reserved.