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TDCC, Glass Lewis partner to bring greater transparency to proxy process in Taiwan

TDCC to offer companies proxy research reports by Glass Lewis

(Facebook, TDCC photo)

(Facebook, TDCC photo)

TAIPEI (Taiwan News) — The Taiwan Depository and Clearing Corporation (TDCC) and the world’s leading provider of independent research, Glass Lewis, announced a strategic partnership on Wednesday (May 19).

TDCC, a central securities depository and leading environmental, social, and corporate governance (ESG) promoter in Taiwan, will provide corporate issuers listed on Taiwan Stock Exchange (TWSE) and Taipei Stock Exchange (TPEX) with a complimentary copy of their Proxy Paper research report as soon as it has been published by Glass Lewis.

“Taiwan commits to enhancing the transparency of proxy recommendations, which would benefit both companies and investors,” said Sherman Lin (林修銘), chairman of TDCC. Describing the collaboration as "iconic," he said Taiwan has become the first market in the world where the central securities depository helps ensure that companies have timely access to Glass Lewis’ Proxy Paper reports.

“We are seeing a sustained increase in demand for meaningful and actionable governance research across the Asia Pacific region,” said Stanley Soosur, country head for Australia at Glass Lewis.

The strategic partnership with TDDC will ensure that companies listed on these exchanges have a detailed understanding of the global proxy voting policies leveraged by Glass Lewis’ 1,300 institutional clients — many of whom invest directly via TWSE and TPEX. “With a strong global focus on ESG issues, it has never been more important for companies to understand how investors vote,” he added.

The initiative is TDCC’s latest offering of ESG solutions. In 2020, it launched the Taiwan ESG Dashboard, the world’s first consolidated and public platform displaying ESG ratings published by major ESG rating agencies. Hundreds of corporate issuers have relied on the Dashboard to access and monitor ratings of Taiwanese corporate issuers.

The ESG solutions of TDCC aim to encourage sustainable investing and enhance companies’ performance on ESG issues. TDCC seeks to achieve this goal by cooperating with leading research agencies, providing data-driven ESG solutions, and facilitating stakeholder dialogues.

Glass Lewis helps institutional investors and publicly listed companies make sustainable decisions based on research and data. The company has a clientele that includes the world’s largest pension plans, mutual funds, and asset managers who collectively manage over US$40 trillion in assets.