Climate Change Data

Giant Group

Climate Impact & Sustainability Data (2022, 2023)

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:34,702 metric tons CO2e (Taiwan factories) + 749,788 metric tons CO2e (five China factories)
Scope 1 Emissions:11,549.62 metric tons CO2e (Taiwan)
Scope 2 Emissions:23,152.80 metric tons CO2e (Taiwan)
Scope 3 Emissions:See report for detailed breakdown (Taiwan)
Renewable Energy Share:7.33%
Total Energy Consumption:163,490,293 kWh (non-renewable) + 12,939,622 kWh (renewable)
Water Consumption:2,844.99 megaliters (withdrawal), 1,906.98 megaliters (discharge)
Waste Generated:17,720 metric tons (general waste), 8,473 metric tons (hazardous waste)
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate
  • Circularity
  • Diversity and Inclusion (DEI)

Environmental Achievements

  • Reduced carbon emissions per million dollars of revenue in Taiwan factories by 17.7% in 2022 compared to 2021.
  • Reduced power consumption by 7,767 MWh through 29 energy-saving measures, resulting in a 5,060 metric tons CO2e reduction.
  • Generated 12,939,622 kWh of electricity from solar systems.

Social Achievements

  • 122% recruitment rate for disabled people in 2022.
  • Launched "Cycling and Planting for Environmental Protection" campaign.
  • Organized 31 bicycle safety sessions in primary and secondary schools.

Governance Achievements

  • Ranked 51st in Corporate Knights’ 2023 Global 100.
  • Zero information security incidents in 2022.
  • 100% completion rate of occupational safety and health proposals in 2022.

Climate Goals & Targets

Long-term Goals:
  • Achieve net-zero emissions (target year not specified)
Medium-term Goals:
  • Reduce Scope 1+2 emissions by 25% in 2030
  • Increase green power to 15% of total electricity in 2030
  • Improve service and repair revenue by 26% in 2030
Short-term Goals:
  • Reduce Scope 1+2 emissions by 3% in 2023, 9% in 2025
  • Increase green power to 5% of total electricity in 2023, 10% in 2025
  • Improve service and repair revenue by 0.9% in 2023, 15% in 2025

Environmental Challenges

  • Unfavorable market conditions including worsening global inflation, weak consumption in Europe and the U.S., and shortage of high-end components.
  • Threats such as COVID-19, extreme weather, and geopolitical conflicts increased operational risks and uncertainties.
Mitigation Strategies
  • Developed action plans internally.
  • Called on upstream and downstream partners to take proactive actions.
  • Implemented energy data management and completed organization-level greenhouse gas inventories at 16 factories.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Supplier CSR Code of Conduct
  • Compliance with labor laws and environmental regulations (REACH, RoHS)
  • Carbon footprint inventory collaboration

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme rainfall, floods, landslides, mudslides
Transition Risks
  • Regulatory changes (carbon tax, cap-and-trade), market shifts
Opportunities
  • Increased demand for low-carbon products and services
  • Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards, SASB, TCFD

Certifications: ISO 14001, ISO 45001, ISO 9001, ISO 14067

Third-party Assurance: AFNOR Asia Ltd.

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • E-bikes with net-zero production processes
  • Recycled aluminum frame plates
  • Products using recycled materials

Awards & Recognition

  • Corporate Knights’ 2023 Global 100 (51st)
  • Other awards listed in the report

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:86,967.49 tCO2e/year (Scope 1 and 2, Taiwan and China)
Scope 1 Emissions:27,520.64 tCO2e/year
Scope 2 Emissions:59,446.85 tCO2e/year
Scope 3 Emissions:642,484.83 tCO2e/year
Renewable Energy Share:11.7%
Water Consumption:2,048.76 megaliters/year
Waste Generated:20,328.78 tons/year
Carbon Intensity:25.14 tCO2e/US$ million dollars of revenue (Rinan Factory in 2023)

ESG Focus Areas

  • Climate
  • Circularity
  • Diversity, Equity, and Inclusion (DEI)

Environmental Achievements

  • Carbon emissions per million dollars of revenue dropped 22% in 2023 compared to 2021 at the Taiwan factory, with a 30% reduction in absolute emissions.
  • Reduced the use of plastic packaging materials with 95% of packaging materials being recyclable.
  • Annual water savings of 20,860 metric tons at Giant (China) Co., Ltd.
  • Annual water savings of 79,862 metric tons at Giant (Kunshan) Co., Ltd.
  • Hazardous waste reduced by 804 metric tons in 2023 at D. Mag (Kunshan) with an expected annual reduction of 3,000 metric tons.

Social Achievements

  • 100% return to work and retention rates of female employees demonstrated care for female employees.
  • Zero cases of occupational diseases in 2023.
  • Organized over 2,800 bicycle tours for 90,000 riders by 2023, saving approximately 54,000 metric tons of carbon emissions.

Governance Achievements

  • Ranked 21st in Corporate Knights’ 2023 Global 100 - The World’s 100 Most Sustainable Corporations.
  • Level A Taiwan Intellectual Property Management System (TIPS) Level A certification.
  • Zero information security incidents in 2023.

Climate Goals & Targets

Long-term Goals:
  • Achieve 100% circular products by 2030
Medium-term Goals:
  • Reduce GHG emissions by 25% by 2030
  • Increase green power to 15% of total electricity by 2030
  • Achieve 100% key suppliers with ISO14064 certifications by 2030
  • Achieve 25% carbon reduction rate of BAS key suppliers by 2030
  • Increase number of public bicycle rentals to 1.2 billion by 2030
  • Increase percentage of recycled aluminum alloy (extrusion) to 75% by 2025
  • Increase percentage of recycled materials in OBC saddles to 50% (C2C certified) by 2025
  • Achieve 88% use of water-based coating + powder coating by 2030
  • Achieve 100% ban on plastic packaging materials by 2030
Short-term Goals:
  • Reduce water consumption by 10% by 2025
  • Reduce GHG emissions by 9% by 2025
  • Increase green power to 10% of total electricity by 2025
  • Achieve 70% key suppliers with ISO14064 certifications by 2025
  • Achieve 9% carbon reduction rate of BAS key suppliers by 2025
  • Increase number of public bicycle rentals to 850 million by 2025
  • Increase percentage of recyclable materials in OBC saddles to 100% by 2025
  • Increase percentage of recycled materials in OBC saddles to 20% (GRS certified) by 2025

Environmental Challenges

  • Inventory risk in the cycling market led to a significant decline of Giant Group’s revenues and profits in Europe and the U.S.
  • High inventory risk in the cycling industry.
  • EU Carbon Border Adjustment Mechanism (CBAM) impacting the cycling supply chain.
Mitigation Strategies
  • Adjusted shipments to align with the demand of European and American customers.
  • Strengthened R&D and innovation capabilities; launched high-end new models.
  • Invited bicycle industry leaders to form the Bicycling Alliance for Sustainability (BAS) to address climate change crisis.

Supply Chain Management

Supplier Audits: Number not specified, but mentions regular audits and on-site verification.

Responsible Procurement
  • Supplier CSR Code of Conduct
  • Compliance with labor laws and environmental regulations (REACH, RoHS)
  • Bicycling Alliance for Sustainability (BAS)

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events (floods, landslides, mudslides)
  • Water resource scarcity and poor water quality
Transition Risks
  • Product efficiency regulations and standards
  • Carbon tax
  • Mandatory filing
  • Decreasing market share of low-carbon products
Opportunities
  • Customer behavior change (increased cycling)
  • Diversity in operation (circular economy business models)
  • Low-carbon transportation demand
  • Cutting-edge low-carbon manufacturing technology

Reporting Standards

Frameworks Used: GRI, SASB, TCFD

Certifications: ISO 9001, ISO 45001, ISO 14001, ISO 50001, ISO 14067, Taiwan Renewable Energy Certifications (T-RECs)

Third-party Assurance: External Independent Assurance Statement (Provider not specified in provided text)

Sustainable Products & Innovation

  • Recycled materials in tires, saddles, and aluminum alloy frames
  • Water-based and powder-based paints
  • UV resin decals
  • E-bikes with improved energy efficiency

Awards & Recognition

  • Corporate Knights’ 2023 Global 100 (Ranked 51st)
  • Corporate Knights’ 2024 Global 100 (Ranked 21st)
  • TAIPEI CYCLE D&I Awards 2023 (CADEX Gold Award)
  • 2023 E-BIKE VAN HET JAAR (Giant Stormguard E+2)
  • 2023 United Nations’ World Bicycle Day - Special Lifetime Achievement Award (Bonnie Tu)
  • Bicycling Magazine - Best Bikes Awards of 2023
  • BikeRadar - Gravel Bike of the Year 2023
  • BikeRadar - Aero Road Bike of the Year 2023
  • Race Bike of the Year - 2023 Best Value Awards
  • Outside Editor’s Choice Award - The Best Road Bikes of 2023
  • Ranked 6th in 2023 Best Taiwan Global Brands
  • Finder Retail Awards 2023: Best-rated bicycle brand