Winner of “Most Prestigious Sustainability Awards–Top Ten Domestic Corporates” once again
The Taiwan Institute for Sustainable Energy (TAISE) held its TCSA awards ceremony today (November 17). Again, Fubon Financial Holdings and its subsidiaries reported stellar results, winning 7 major trophies. Fubon Financial Holdings was the winner of the “Most Prestigious Sustainability Awards–Top Ten Domestic Corporates” in the "Corporate Comprehensive Performance" category. It also ranked second in the service industry category. Elsewhere, both Taipei Fubon Bank and Fubon Insurance were winners of the “Growth through Innovation Award”, and Taipei Fubon Bank the winner of the “Information Security Leadership Award”.
Richard M. Tsai, the chairman of Fubon Financial Holdings, said that the company continues to head towards the goal of becoming a tier-1 financial institution in Asia. It has long focused on corporate governance, CSR, financial innovation, and sustainable management while pursuing operational excellence. Fubon Financial Holdings and its subsidiaries will continue to make sustainable governance an important part of it corporate mission while giving full play to the power of positivity.
Fubon Financial Holdings: more stellar ESG results, second in “Most Prestigious Sustainability Awards –Top Ten Domestic Corporates”
Fubon Financial Holdings restructured its ESG strategy this year with a new subject: Run for Green, determined to put sustainability into reality. It has won the “Most Prestigious Sustainability Awards–Top Ten Domestic Corporates (Service Industry)” for two straight years, which is the highest honor of its kind. It is also ranked second in the top ten, its best-ever ranking, all of which are proof that its ESG/sustainability efforts have been recognized. With 2021 its 60th anniversary, Fubon has charted four new directions for ESG: low carbon, digitalization, encouragement, and impact, echoing the international target of net zero emissions by 2050. Fubon released its first TCFD report in June 2021, the first in the domestic financial industry. It was also the first to promise to no longer invest in power plants where thermal power represents more than 50% of total capacity. It also using its financial leverage to push corporate Taiwan towards more sustainable operations.
Fubon Financial Holdings and Fubon Life Insurance win gold at “Corporate Sustainability Report Awards”, bronze for Fubon Insurance
With the ongoing improvement in the quality of its CSR report, Fubon Financial Holdings was able to once again win at the “Corporate Sustainability Report Awards”, marking the 8th straight year of victory. It scored gold in the insurance and finance category. In 2020, it introduced the accounting standards of the Sustainability Accounting Standards Board (SASB) into its CSR report, making it the first CSR report in Taiwan’s financial industry to have all indicators confirmed, and benefitting stakeholders at the same time through the provision of reliable and comprehensive information.
To fulfill its corporate responsibility and respond to the government’s policy regarding green finance and corporate governance, Fubon Life Insurance released its first CSR report in June 2021. Caring for people is the company’s original purpose, and the CSR report highlights the company’s “W.A.R.M.” promise given to customers, society, and the environment. Based on four directions: Well-governed (corporate governance), Accountable (innovative products and services), Reliable (care for employees and society), and Meaningful (green operations), the report adopts the standards of the Global Reporting Initiative (GRI) and the United Nations’ Principles for Sustainable Insurance (PSI) to disclose Fubon Life Insurance’s ESG strategy, course of practice, and achievements. The report won gold at the “Corporate Sustainability Report Awards”.
Meanwhile, Fubon Insurance released its 2020 CSR report this June using the same standards (GRI and PSI) to address its ESG achievements and their contribution to the economy and environment. The report won bronze at the “Corporate Sustainability Report Awards”. It was the first time it applied for an award.
Long-term ESG activist Fubon Insurance customizes insurance for green energy industry
Targeting the offshore wind power and solar industries, Fubon Insurance issued new insurance for the green energy industry, helping clients identify and evaluate risks, spread risk sharing, and better manage risk. The wind power industry operates according to the concept of umbrella insurance, which offers full coverage and protection to every team on a project. Fubon Insurance is also cooperating with international reinsurance companies and maritime guarantee appraisers to participate in the insurance of every offshore wind power station in Taiwan. As Taiwan’s solar industry has been subject to a series of disasters, Fubon Insurance formed a task force to study their causes from a loss perspective and develop a risk assessment matrix to quickly identify risks and create an appropriate underwriting standard. Because of its actions in green finance, Fubon Insurance once again won a “Growth through Innovation Award”.
Taipei Fubon Bank: recognized for digital finance information security
To develop a “department store” of digital finance using innovative technology, Taipei Fubon Bank integrated group resources to create a one-stop shopping experience. Personalization, contextualization, and life-oriented services help customers to financialize their lives: “Your good friend in finance” is the tagline of the bank’s official Line account. Anything sent through the account is carefully curated to ensure effective exposure. Advances continue in the bank’s information security management, with supervision starting from the top–the board of directors—to form a hierarchy for information security, technical maintenance, compliance review, and governance. Supplemented by information security talent, regular offensive and defensive drills, information security diagnosis, and hacker infiltration testing, as well as disaster recovery drills and contingency operations, the bank’s information security resilience is constantly improving.