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Fubon Financial

Fubon Financial Holdings again a leader and in the world’s top 4% for sustainability DJSI World constituent for five straight years


Number two globally and number one in Taiwan in social sustainability, best-in-class full scores in 6 indicators

Dow Jones Sustainability Indices (DJSI) announced its 2021 ratings on November 13. Once again Fubon Financial Holdings was recognized by the world's most credible sustainability rating institute and selected as one of the constituent stocks of DJSI World in the INS (insurance) category. It is in the top 4% in the global insurance industry, and second globally and first in Taiwan in social sustainability. It is the fifth consecutive year that Fubon Financial Holdings was selected as a constituent of DJSI, which comprises world-class indices of the highest level, and also the sixth consecutive year that Fubon was selected to be a constituent in DJSI-emerging.

Released by S&P Dow Jones Indices LLC, DJSI is the world’s first group of indices to rate corporate sustainability. With more than 20 years of experience in sustainability evaluation, DJSI is now the world’s most credible rating institute for corporate sustainability. So far, DJSI has included more than 60 industries and over 2,500 enterprises in it ratings, making it an important indicator for global institutional investors who intend to raise their ESG scores through investment.

Fubon Financial Holdings has been relentless when it comes to corporate sustainability. It continues to march in line with global standards, leading to positive results for the economy, environment, and society. As such, it is once again in the world’s top 4% for corporate sustainability this year, and its scores in governance, social, and environmental sustainability are higher than the industry average. In particular, it’s ranked in the top two globally and number one in Taiwan in social sustainability, where it won full scores in 6 of the 23 indicators for evaluation, the highest among peers.

Richard M. Tsai, the chairman of Fubon Financial Holdings, says that 2021 is the 60th anniversary of the Fubon group. The name Fubon is derived from a Chinese proverb meaning “making the country rich and the state safe”. Naturally, Fubon shoulders the responsibility of building a better future for society, keeping that in its mind when planning its sustainable business. It announced 4 major directions for its ESG projects this year: low carbon, digitalization, encouragement, and influence. It is also focused on “Run for Green”, which is an internal project with designed actions in 5 aspects, where the group can give full play to its innovative influence in sustainable finance.

In June 2021 Fubon became the first in Taiwan’s financial industry to promise not to invest in power plants where thermal power represented more than 50% of its capacity. This action was designed to support a low-carbon future using the company’s leverage as a financial services provider to encourage enterprises to transform their operations. Fubon published the first TCFD report in Taiwan’s financial industry this year to strengthen risk management regarding climate change and pioneer climate finance. It also launched a lending project linked to the sustainability indices, offering discounts to the interest rate to encourage corporate borrowers to save electricity and reduce their carbon emissions. It was the first among Taiwanese banks to offer such a lending package. There is also a movement in Taiwan’s financial industry to promote green campaigns. Fubon’s Run for Green promotes tree planting through marathons. Fubon also gives a subsidy of NT$100,000 to employees who have just had their first child, along with 10 weeks of paid maternity leave, a childcare subsidy of NT$15,000 per year, and another maternity subsidy, all of which exceed its peers’ offerings.

To increase awareness among stakeholders of the impact of financing, it has become a trend globally to quantitatively calculate the impact of funding from the financial industry. DJSI has included this in its sustainability indicators. Fubon Financial Holdings’ CSR report introduced the Impact Valuation method in 2020 to monetize the impact of investment and financing on the environment and society, including job opportunities created in the financing/investment process and its boost to the development of the industry chain. Fubon created a “financing impact” worth NT$6.26tn in 2020, demonstrating the positive impact of the financial industry and echoing the core brand spirit of Fubon.

Fubon Financial Holdings continues to advance in ESG ratings. The Carbon Disclosure Project (CDP), iconic among multinational rating institutes for environmental protection, gave an AA award to Fubon in the climate change and supplier engagement categories, making it the best performer in Taiwan’s financial industry. In the sustainability ratings released by Europe’s Sustainalytics in March, Fubon’s ESG scores were the highest among insurers. It has been a constituent of the MSCI ESG Leaders Indices for 4 straight years, and won an AA rating in the MSCI ESG ratings (AAA is the highest), also the best among its domestic counterparts. Fubon will keep promoting sustainable business and using the power of positivity to create more possibilities for the environment, society, and the public.

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