As sustainability governance evolves from advocacy to institutionalized practice, the sustainability issues and transformation pathways faced by companies are becoming increasingly industry-specific. To ensure that the award results better reflect actual business operations, the Taiwan Institute for Sustainable Energy (TAISE) has announced that, starting from this year, the Taiwan Corporate Sustainability Awards (TCSA) will adjust its industry classification framework for sustainability awards, enabling companies within the same industry to be evaluated on a fairer and more reasonable basis.TAISE said that some previous industry classifications were relatively broad, which could result in companies with different business models competing within the same category, despite facing significantly different sustainability issues and governance approaches. This adjustment is primarily based on the industry classification of the Directorate-General of Budget, Accounting and Statistics, while referencing the Global Industry Classification Standard (GICS) and the Taiwan Stock Exchange’s industry classification system. The framework has been revised into 11 major sectors and 48 industry categories. The evaluation dimensions and key criteria for each industry category remain unchanged, and the evaluation standards for participating companies remain consistent, it said.Among the changes, “electronics and information technology manufacturing” has been further subdivided according to industry characteristics into categories such as integrated circuits, semiconductor packaging and testing, passive components and discrete components, printed circuit board and assembly, optoelectronics, computers and peripheral equipment, electronics manufacturing services, information services, and digital cloud, TAISE said. The “financial and insurance industry” has also been further divided by business nature into banking, insurance, securities and other financial services, allowing different financial institutions to be compared within a framework that better reflects their business characteristics, it said.