Fubon Financial

Fubon Financial Holdings Introduces Green Value-adding Service and Sets a Model Example for Green Finance


In response the challenges of climate change and greenhouse gas reduction throughout the world, Fubon Financial Holdings has taken the initiative to broaden the scope of its greenhouse gas survey this year to include all 409 offices of Taipei Fubon Bank, Fubon Life, Fubon Insurance and Fubon Securities in Taiwan. The Company held its certification ceremony today (May 9), during which Managing Director Peter Pu of the British Standards Institution (BSI) presented a certificate to President Vivien Hsu of Fubon Financial Holdings as a commendation for the Company's dedication and efforts of becoming a low-carbon business.

Peter Pu said during the presentation that it was a challenging task for Fubon Financial Holdings to gather the data required for this year's greenhouse gas survey across all 409 office locations of its subsidiaries in such a short notice. Rarely did the world witness mobilization of such magnitude, and it shows the level of determination and commitment that Fubon Financial Holdings has towards low-carbon and sustainable environment. This full-scale greenhouse gas survey will help the Company identify the main sources of emission and take steps to further reduce energy use to set a model example as a low-carbon business.

Vivien Hsu said that Fubon Financial Holdings has long devoted attention to the impact of global climate change. In 2012, the Company moved ahead of peers by completing an organizational greenhouse gas survey in accordance with ISO 14064-1 on eight head office buildings of Fubon Financial Holdings and subsidiaries, which made Fubon the first financial holding company in Taiwan to complete and obtain external certification for organizational greenhouse gas surveys.

The Company assembled a "Corporate Governance and Sustainability Committee" and executed its "ESG Visioning" project towards the end of 2015. The committee has an environmental sustainability task force that specializes in the planning of short/medium/long-term ESG strategies and the execution of action plans within the organization. At the end of the same year, the "Paris Agreement" was passed during the 21st United Nations Climate Change Conference (COP 21) by all participating nations, which set a new milestone for the effort of preventing global warming. In support of COP21, Fubon Financial Holdings signed a commitment to "Set Science-Based Targets" as part of the Road to Paris initiative, and contribute its part to the sustainability of the environment.

In view of the direct impacts that environmental issues have on business management, Fubon Financial Holdings adopted ISO 14001:2015 - Environmental Management System in 2016 and took the initiative to broaden the scope of its greenhouse gas survey and adopt ISO 50001 - Energy Management System in 2017. The existence of an energy management system would enable the Company to analyze current energy usage and identify energy-intensive uses and prioritize areas of improvement, which ultimately leads to more efficient use of energy and reduces energy costs.

In addition, Fubon Financial Holdings is dedicated to reducing energy and carbon from within the organization, and actively supports the government's environmental protection policies, including renewable energy. The Company has been purchasing green electricity since 2014, and the 1.26 million KWH purchased in 2016 put Fubon ahead of all financial holding companies. The Company has also been active in making green purchases, such as energy-certified, environment-certified, and green building-certified products. In 2016, the Company spent approximately $200 million on green purchases.

Furthermore, in an attempt to direct suppliers' attention to social responsibility and environmental protection issues, the Company has been exerting financial influence by requiring all partnered suppliers to sign a "Supplier Commitment" that regulates their conduct in regards to employee rights, human rights, workplace health and safety, environmental protection, and prohibition of commissions/kickbacks.

Since the launch of "ESG Visioning Project," Fubon Financial Holdings has been introducing innovative action plans of various themes and adapting sustainability values into internal operations, and making use of the banking profession in talent training and caring for the socially disadvantaged. While Fubon strives to maximize returns for shareholders, the organization also exerts a positive influence through green finance and green value-adding services that leads others toward sustainability, which contributes to making the world a better place!