Sustainability
Energy Management
Welhunt’s Energy Management Performance Over the Past 3 Years
| Quantitative indicators | Unit | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Purchased non-renewable energy | kWh | 231,138.49 | 191,872.26 | 111,317.33 |
| GJ | 832.10 | 690.74 | 400.74 | |
| Gasoline | L | 29,220.88 | 18,163.23 | 8,321.95 |
| GJ | 953.63 | 592.76 | 271.59 | |
| Natural gas | m3 | 1,309.60 | 1,222.50 | 725.00 |
| GJ | 43.83 | 40.92 | 24.27 | |
| Total energy consumption | GJ | 1,952.89 | 6,271.68 | 553.67 |
| Energy intensity | ||||
| GJ/Person | 15.50 | 11.22 | 5.90 |
Note:
- The conversion of the thermal energy value of electricity is 1kWh=0.0036GJ.
- Electricity: 3,600KJ/kWh; gasoline 7,800kcal/L; natural gas 8,000 kcal/M3; 1 kcal=4.184J.
- The data for 2021 and 2022 was verified by an external third party (SGS), while the data for 2023 was assured by an external third party (Accounting firm).
- As of the end of 2023, Welhunt had 118 employees across its global operations.
At the beginning of 2024, we conducted an energy inventory for 2023 and found that Welhunt’s electricity, oil, and natural gas usage had all increased. There are three main reasons for this:
- This year, we expanded the scope of our inventory to include, for the first time, the energy usage of our UK subsidiary, which covers four months of data.
- In the previous energy inventory, our subsidiaries in China and Indonesia were established at the end of 2022, so the data only covered part of the year. In this investigation, these two subsidiaries provided a full year of energy usage data for the first time, leading to an increase in total energy consumption.
- As the company continues to grow and the number of employees increases, our electricity usage and the frequency of business trips to visit clients have also risen.
Greenhouse gas inventory and management
In recent years, global attention to climate change and environmental protection has continued to rise, prompting higher expectations and challenges for companies in the area of sustainable development. In response to this trend, Welhunt has been dedicated to proactively addressing the impacts of climate change and turning them into opportunities for growth. We firmly believe that effective greenhouse gas management not only inspires innovation but also lays a solid foundation for long-term value creation.
In 2024, Welhunt conducted the greenhouse gas inventory for 2023 and expanded the inventory boundary to include our UK subsidiary. The results of the inventory were assured for the first time according to the ISAE 3410 standard by one of the Big Four accounting firms, and an ISO 14064-1:2018 greenhouse gas statement assurance report. By conducting the greenhouse gas inventory internally, we aim to enhance the carbon inventory and management expertise of our team while also internalizing the methodologies involved, seeking ways to reduce the organization’s carbon emissions and identifying opportunities for future business expansion.
Overview of Welhunt’s GHG emissions
unit：CO2e
| GHG emissions (tCO2e) | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Category 1: Direct GHG emissions | 76.6071 | 39.6340 | 26.7036 | |
| Category 2: Indirect GHG emissions from imported energy | 112.1535 | 94.7052 | 55.3728 | |
| Categories 1 to 2: Total GHG emissions | 188.761 | 134.339 | 82.076 | |
| Categories 3 to 6: Other indirect GHG emissions | Emissions from downstream transportation and distribution | 2,188,380.5080 | 1,335,937.7941 | 1,279,188.1257 |
| Emissions from employee commuting | 38.1159 | 26.9948 | 14.9319 | |
| Emissions from business travel | 722.2570 | 127.1563 | 4.6848 | |
| fuel- and energy-related activities not included in category 1 or category 2 | 40.8249 | 27.0871 | 16.0943 | |
| Categories 3 to 6: Total GHG emissions | 2,189,181.706 | 1,336,119.032 | 1,279,223.837 | |
| Categories 1 to 6: Total GHG emissions | 2,189,370.466 | 1,336,253.372 | 1,279,305.913 | |
Notes:
- The inventory boundary includes the Taiwan operation site, as well as subsidiaries in Singapore, Indonesia, China, and the United Kingdom.
- The emission factors for electricity are based on the following: Taiwan uses the 2023 emission factor of 0.494 kg CO2e/kWh announced by the Energy Administration, Ministry of Economic Affairs; Singapore uses the 2022 emission factor of 0.4168 kg CO2e/kWh announced by the Energy Market Authority; Indonesia uses the 2022 emission factor of 0.61902 kg CO2e/kWh announced by the Ministry of Energy and Mineral Resources; China uses the 2021 national average emission factor of 0.5568 kg CO2e/kWh.
- The Global Warming Potential (GWP) values are referenced from the IPCC Sixth Assessment Report (2021).
- The greenhouse gas inventory is compiled based on the “Operational Control Approach.”
- According to the WBCSD’s Corporate Value Chain (Scope 3) Accounting and Reporting Standard, Categories 1 and 2 are required disclosures, while Categories 3 to 6 are optional disclosures.
- Other customized emission factors are referenced from the latest data on the Environmental Protection Administration’s Product Carbon Footprint Calculation Platform and China’s Life Cycle Greenhouse Gas Emission Factors Database for Products.
Water resources management
Welhunt used the AQUEDUCT Water Risk Atlas, a water risk assessment tool from the World Resources Institute (WRI), to identify water risks at its operational sites. The results indicate that the subsidiaries in Taipei and Kaohsiung, Taiwan; Guangxi, China; Singapore; and London, UK, are all located in low to medium water risk areas. However, the subsidiary in Jakarta, Indonesia, faces high water risk due to the high cost of tap water and excessive groundwater extraction by residents, leading to land subsidence and increased vulnerability to flooding and rising sea levels.
| Water Risk Level | Number of Sites | Location |
|---|---|---|
| Low Risk (＜10%) | 0 | – |
| Low to Medium Risk (10~20%) | 5 | Taipei, Taiwan
Kaohsiung, Taiwan London, UK |
| Medium to High Risk (20~40%) | 0 | － |
| High Risk (40~80%) | 1 | Jakarta, Indonesia |
| Very High Risk (＞80%) | 0 | － |
We conducted a thorough assessment of our operational water usage patterns and determined that there are no significant water-intensive activities during our regular operations. The purpose of water intake is for domestic use by our employees and visitors (drinking water, washing, cleaning, toilet use, etc.). We mainly consume tap water and do not use groundwater, nor do we compete with the local community for water resources that cause water pollution. The sewage systems at our sites adhere to regional regulations, ensuring legal discharge through pipelines into sewage sewer systems or drainage systems in accordance with local mandates. Since our operating sites are office spaces without production activities, the water intake roughly matches the amount of water drainage. Nevertheless, we consistently encourage our employees to practice water conservation in both office and dormitory settings. We advocate water conservation by employing water-saving bathroom fixtures, and we plan to persist in water-saving initiatives, including the potential installation of water-saving valves on faucets as deemed suitable in the future.
Water resource management performance
| Indicator | Unit | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Total Water Withdrawal | m3 | 3,710.67 | 4,244.82 | 1,059.00 |
| Water Withdrawal Intensity | m3/person | 19.19 | 38.94 | 16.29 |
Note:
- The data in this table is calculated by taking the total water withdrawal for the entire year at the two sites in Kaohsiung and Taipei (including offices, assets, and dormitories), then dividing it by the total number of people at these two sites as of the end of 2023. This average per capita water withdrawal is then used to estimate the total water withdrawal for all personnel within the scope of this report.
- Water withdrawal intensity is categorized as follows:
- Per Capita Water Withdrawal Intensity: As of the end of 2023, there were 72 people in Taiwan and 118 people globally.
- Water Withdrawal Intensity per Unit of Net Profit: The consolidated net profit for 2023 was TWD 1,952.89 million.
- In 2023, the operational boundary was expanded to include the newly added UK subsidiary compared to the previous year.
Waste Management
Welhunt is not in the manufacturing industry and therefore does not generate large amounts of industrial or hazardous waste like typical manufacturers. The types of waste are relatively simple, mainly consisting of general waste and recyclable materials. Except for the Kaohsiung office, which handles waste disposal in coordination with the local cleaning team, the Taipei office, as well as subsidiaries in Singapore, Indonesia, China, and the UK, have their waste managed by property management companies or the building management. This includes sorting, weighing, recycling, transportation, and incineration for energy generation. Since 2022, Welhunt’s Taipei office has been in discussions with the building management committee to conduct waste weight statistics floor-by-floor, a proposal that has been accepted and implemented. Similarly, the Kaohsiung office began monitoring waste data (general and recyclable waste) starting in April 2023.
Using the waste data from each floor of the National Standard Finance Building and correlating it with the number of employees in the same floor businesses in the Taipei office, combined with nearly nine months of waste monitoring data from Kaohsiung, we estimated that the average general waste generated per Welhunt employee is 1.71 kg/month. Consequently, we estimated that the total general waste for 2023, for Welhunt’s 121 employees across Taiwan, Singapore, Indonesia, China, and the UK, is approximately 2.48 metric tons. Using the same method, we estimated the amount of recyclable waste for 2023 to be approximately 3.04 metric tons.
Based on the floor-by-floor waste data provided by the building management committee of the Concord Securities Building, combined with a survey of the number of employees of other companies on the same floor as Welhunt’s Taipei office, and supported by nearly 9 months of waste monitoring data from the Kaohsiung office, it is estimated that each Welhunt employee generates an average of 1.75 kg of general waste per month. Using this estimate, the total amount of general waste produced by Welhunt’s 118 employees across its offices in Taiwan, Singapore, Indonesia, China, and the UK in 2023 is approximately 2.97 metric tons. For recyclable waste, a similar estimation method was used, resulting in a total recyclable waste amount of around 3.04 metric tons for 2023.
Regular weighing of general and recycled waste
To reduce waste, we have created posters to remind employees to properly sort recyclable materials and encourage them to reuse single-sided printed paper. We have also set up dedicated paper trays on printers for this purpose. In 2023, the Taiwan operation sites used a total of 227,931 sheets of paper. Additionally, in 2024, we implemented a printer account registration system, requiring employees to log in before initiating a print job. This allows us to identify heavy paper users and promote paper-saving practices to them. Moreover, the employee cafeterias at the Taipei and Kaohsiung offices use reusable utensils and dishes to avoid generating large amounts of single-use waste from disposable tableware. When hosting visitors, we provide reusable glass or coffee cups instead of paper cups or bottled water, unless specifically requested by the guests.
Reminders for Waste Sorting
Eco-friendly tableware used in the Kaohsiung staff cafeteria
Photocopier tray for recycled paper (second from bottom)