DecarbonizationHelp Customers Go Sustainable
Utilize sustainable finance-related products and services to help customers pursue low-carbon transitions
Increase green finance-related investment and the green loan portfolio and the underwriting of green bonds
Develop climate- and sustainability-related insurance products
Continue to increase the purchase of renewable energy, build solar panels and replace energy-saving equipment
Continue to modify the standards on whether to invest in/pull out of high-emissions industries
ACHIEVEMENTS
Total “Green Finance” investment and financing of Fubon Financial Holdings reaches NT$2.57trillion.
The TCFD Reports issued by Fubon Financial Holdings and Taipei Fubon Bank earned the highest ”Level 5+: Excellence” rating, as certified by BSI.
Fubon Insurance was the 1st domestic non-life insurer committing to net-zero underwriting.
2023 RESULTS
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Green Finance0NT$100 million2030 Goal: 29,108 (NT$100 million)
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Participation in Green Bond Underwriting Cases0%2030 Goal: 45%
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Climate-Related Products and Services0NT$100 million2030 Goal: 74 (NT$100 million)
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No. of Sustainability Loss Prevention Service CasesNew in 20242030 Goal: 750 cases
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Carbon Reduction-0%2030 Goal: -42%
Sustainable Finance
Fubon Financial Holdings has established a ”Fubon Financial Holding Co., Ltd. and Subsidiaries Sustainable Finance Policy” as the highest guiding principle to follow in promoting sustainable finance. It stipulates that the Company should incorporate environmental, social, and corporate governance factors into business development decisions, and devise and implement business strategies of investment, credit, and insurance. The policy supports encouraging companies that meet United Nations sustainable development goals, carefully assessing business relationships with companies involved in controversial situations, and setting standards for investing in/pulling investment out of high carbon industries.
ESG Products/Services
With the vision of becoming one of Asia’s first-class financial institutions, Fubon Financial Holdings has an unrivaled portfolio of financial products and services and has also made sustainability a critical part of its operations. Fubon has demonstrated its corporate citizenship in confronting climate change issues, in part by complying with Paris Agreement climate goals, relying on a “decarbonization” strategy to help clients pursue sustainable transformations, and leveraging its financial influence to provide sustainability-oriented investments, loans, products, and specialized services. Through these initiatives, Fubon has guided clients on improving their ESG performance and accelerated the sustainable transformation of value chains, while also assessing clean energy opportunities and injecting companies with new momentum for growth.
Climate change
Net-zero Targets
Fubon Financial Holdings committed to set a long-term SBT to net-zero GHGs emissions by no later than 2050.
TCFD Framework
Green operation
Operational Emissions Reduction Target
Fubon’s planning of its pathway to decarbonization began in 2016 when it committed to set its science-based targets (SBT) for reducing carbon emissions. It then followed guidelines for setting targets for Scope 3 financial sector emissions generated by its investment and loan positions and Scope 1 and 2 greenhouse gases generated by its own business locations, first taking inventory of its carbon positions and calculating emissions, and then devising a carbon reduction pathway. In 2022, it set specific carbon emissions targets and they were validated by the Science Based Targets Initiative (SBTi).
Baseline is Scope 1 and Scope 2 carbon emissions in 2020; Fubon pledged to reduce emissions by 12.6% by 2023 (1.5% reduction in Scope 1 emissions and 13.6% reduction in Scope 2 emissions), and by 42% by 2030 (5% reduction in Scope 1 emissions and 45.5% reduction in Scope 2 emissions) compared to the baseline to achieve the SBT target and then continue to reduce carbon emissions in a scientific way until cutting them by 92.3% by 2040 (5% reduction in Scope 1 emissions and a 100% reduction in Scope 2 emissions). The remaining emissions are expected to be eliminated before 2050 using other related tools approved by international standards.
Internal Carbon Pricing
Fubon Financial Holdings launched an internal carbon pricing mechanism based on an implicit pricing model in 2021. It was done in response to expectations among international assessment organizations that enterprises adopt carbon pricing and also to improve Fubon’s energy efficiency and change its internal behavior. Under the new program, designed to evaluate the carbon reduction benefits of new equipment purchases, Fubon and its subsidiaries use these guidelines to do their assessments:
- Calculate the carbon reduction cost (carbon price) of the equipment under consideration, and compare the benefits with the average carbon reduction cost (average carbon price) for other models of the same type of equipment.
- Carbon price = Net cost of equipment investment/estimated carbon reduction during the service life of the equipment; Average carbon price = Sum of net costs of purchases of similar equipment in previous years/total estimated carbon reduction during the estimated service life of that equipment.
- Average carbon price to be announced and updated every year; in 2023, the average carbon prices for different types of equipment ranged between -NT$3,000/tCO2e and NT$51,200/tCO2e; the average was NT$400 per t/CO2e.
DigitalizationProvide the best financial services
Provide innovative services and experiences to satisfy customers’ diverse financial needs
Continue to promote online applications for electronic notifications, insurance policies, and credit cards, and increase the percentage of products applied for online.
Continue to promote digital collaboration across Fubon Financial Holdings and Fubon subsidiaries to optimize the customer experience.
ACHIEVEMENTS
Fubon Financial Holdings won the Commercial Times Digital Financial Service Awards' highest honors, receiving the ”Digital Financial Service Excellence Award.” Subsidiaries won a combined 5 Gold awards and 5 Excellence awards.
Fubon Life, Taipei Fubon Bank, and Fubon Securities all were ranked in the ”Top 25%” tier in the Financial Supervisory Commission’s 2023 ”Assessment of the Implementation of Treating Customers Fairly Principles”.
Taipei Fubon Bank and Fubon Securities teamed up in breaking through data sharing bottlenecks within the sector, joining with LINE Bank to forge a cross-domain ecosystem.
2023 RESULTS
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Customer Satisfaction0%2030 Goal: 90%
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Fubon LifeGrowth in Applications for E-notifications0%2030 Goal: 4% (YoY growth)
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Fubon LifeE-policies & “E-terms & Conditions Policies” Issued0as % of total issued2030 Goal: 30%
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Fubon BankGrowth in E-policies & “Eterms and Conditions Policies” Issued0%2030 Goal: 5% (YoY growth)
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Fubon BankShare of Credit Cards/personal Loans/account Openings Processed Online0%2030 Goal: 90%
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Fubon BankGrowth in Mobile Banking Active AccountsNew in 20242030 Goal: 10%
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Fubon InsuranceE-policies and Electronic Compulsory Auto Liability Insurance Certificates Issued02030 Goal: 77% (share of total)
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Fubon SecuritiesE-trading Account Share of Natural Persons’ Domestic Securities Trading Accounts0%2030 Goal: 90%
Innovative Technologies
As a strong proponent of financial technology (fintech), Fubon Financial Holdings is intent on creating outstanding fintech services and mastering the latest fintech technologies. Our fintech development is focused on innovation in five areas: making financial services more convenient, developing new products and services, lowering the environmental footprint of our services, strengthening operational efficiency and precision marketing, and maintaining customer relationships and rights.
The emergence of fintech-driven digital transformation is a key trend in the global financial sector and has highlighted the importance of developing fintech-related intellectual property. As of the end of 2023, Fubon Financial Holdings had amassed a cumulative 147 patents – 11 by the financial holding company, 50 by Taipei Fubon Bank, 23 by Fubon Life, 33 by Fubon Insurance and 30 by Fubon Securities – and the Company will continue to invest in R&D to help cement Fubon’s status as the industry’s leading brand.
EmpowermentFoster a friendly, healthy workplace
Support diversity, equity and inclusion to foster a friendly, healthy, and happy workplace
Remain a constituent of the Taiwan Stock Exchange’s Taiwan High Compensation 100 Index and of Bloomberg’s Gender Equality Index.
Continue to promote childbirth and child raising measures and a full range of health and well-being activities to foster a happy workplace founded on diversity, equity, and inclusion.
ACHIEVEMENTS
The 1st ”Merger of Two Financial Holdings” in Taiwan’s financial history.
Continued to promote our ”ESG Training Program” at all levels of the organization to forge a consensus on ESG among our entire workforce.
Received a
”Parenting-friendly Workplace Award” from CW Parenting magazine.
2023 RESULTS
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Continue to be Selected as a Constituent of the Taiwan High Compensation 100 IndexSelected2030 Goal: Selected
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Employee Engagement
SurveyNote1 - Score0Score2030 Goal: 77 or above -
Employee Engagement
SurveyNote1 - Participation Rate0%2030 Goal: 80% or above
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Employees Participated in Wellness and Health-related Activities - Total No. Times010,000 times2030 Goal: 12 (10,000 times)
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Employees Participated in Wellness and Health-related Activities - Average No. of Times0times2030 Goal: 7.2 times or above
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DEI - Share of Employees that are WomenNew in 20242030 Goal: 50% or above
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DEI - Share of Managers that are WomenNew in 20242030 Goal: 45% or above
Note 1: Employee engagement survey engagement and participation rate: Survey conducted once every two years; figures for 2022 survey, next survey to be conducted in 2024.
Diversity, Equity and Inclusion
Workplace Equality
Fubon Financial Holdings supports the United Nations sustainable development goals (SDGs) of gender equality, and treats men and women equally when recruiting, hiring, cultivating, or promoting people. As of the end of 2023, the number of women and men across different Fubon Financial Holdings metrics remained balanced, and Fubon was selected in 2022 and continued to participate in 2023 in Bloomberg’s Gender Equality Index, indicating that a gender-friendly workplace environment has taken root.
Human Rights Commitment and Management
To protect the fundamental human rights of its employees, Fubon Financial Holdings has fostered an environment protective of human rights based on the “protect, respect and remedy” framework outlined in the United Nations Guiding Principles on Business and Human Rights. The Company also supports and complies with the Universal Declaration of Human Rights, the Global Compact, International Labor Organization conventions, the Principles for Responsible Investment, the Equator Principles, and local laws, and is dedicated to eliminating any behavior that infringes on or violates the human rights of others so that everyone is treated fairly and with dignity.
TALENT DEVELOPMENT
Fubon Financial Holdings plans training programs based on the skills needed at each level of the organization. To ensure that the instruction is effective, each training course has minimum learning-hour requirements, and the KirkpatrickNote framework is used to review the indicators and evaluation methods of each program and quantify training performance, making it possible to measure learning outcomes and the benefits of investing in human capital.
Note: The Kirkpatrick Model is a training evaluation model proposed by Donald L Kirkpatrick in 1959. It is currently the most widely used training evaluation model in the business world.
Workplace Health and Energy
Comprehensive Employee Care
Fubon Financial Holdings is dedicated to promoting employee health and well-being by providing comprehensive care. Employees are given resources and support at various phases of their lives – from when they are single to when they get married, have children, raise children and care for their older relatives.
Occupational Safety and Health Management
Fubon Financial Holdings has developed a questionnaire to effectively identify workplace hazard risk factors and foster a healthier and safer workplace for all individuals – whether employees or not – who operate in Fubon workplace environments. The questionnaire is structured around the Occupational Safety and Health Management Rules, Occupational Safety and Health Management Plan and the PDCA management cycle and incorporates provisions from four legally mandated safety plans and outside assessment indicators.
ConnectionConnect society’s positive forces
Connect Fubon’s five foundations with positive energy and expand their impact on society
Provide a wide range of financial education opportunities to engender more widespread financial awareness and knowledge.
Strive to expand financial inclusion, so that everybody can have access to outstanding financial services.
Continue to expand localized financial and community services, and play the role of connecting social resources.
ACHIEVEMENTS
Teamed up with 8 cities and counties on a ”Run For Green™” campaign to plant trees in those areas based on distances run in marathons.
Invested NT$20 million to support domestic cultural and art groups and activities.
Taipei Fubon Bank, Fubon Insurance and Fubon Securities set up ”Friendly Finance” sections on their websites, and received NCC certification for web accessibility.
2023 RESULTS
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Education Promotion0No. of times people participated2030 Goal: 3,084,100
(No. of times people participated) -
Health Promotion0No. of times people participated2030 Goal: 898,384
(No. of times people participated) -
Care for the Disadvantaged0No. of times people participated2030 Goal: 198,579
(No. of times people participated) -
Employee Volunteerism0No. of times people participated2030 Goal: 27,500
(Hours participated) -
Fubon BankAnti-Money Laundering
Promotion Note1New in 20242030 Goal: 503,800
(No. of participated) -
Fubon InsuranceNo. of innovative financial inclusion-related products or servicesNote2New in 20242030 Goal: At least 1 new item every year, at least 7 new items
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Fubon SecuritiesCumulative no. of people on regular savings investment plansNew in 20242030 Goal: 181,000
(No. of people) -
Fubon SecuritiesFinancial education promotion – Money management event0No. of times people participated2030 Goal: 1,000
(No. of participated) -
Microinsurance cooperation programs Note30No. of times people participated2030 Goal: 85,000
(No. of participated)
Note 1: Anti-money laundering promotion: Includes the Anti-Money Laundering Trends Forum (online and offline), Fubon AML Lectures (online), DMs on blocking/preventing fraud, and publicity videos.
Note 2: Fubon Insurance no. of innovative financial inclusion-related products or services: Goal is to increase the number by at least one every year starting in 2024.
Note 3: Microinsurance cooperation programs: These initiatives are sponsorships of city and county governments and private social welfare groups.
Financial Inclusion Product and Services
Always concerned about the impact of social changes, Fubon Financial Holdings harnesses its financial competencies to roll out microinsurance plans, charitable trusts and other innovative financial products and services to deal with such changes. We also helps the government in promoting policy-driven loans to eliminate poverty and contribute to a stable society.
Services and Products for the Elderly
Fubon actively takes steps to protect the rights and interests of older customers and assess their risk profiles to foster comfortable and secure lives for the elderly.
Facilitating Health
Environmental protection
