Fubon Financial has won “Double A” honor of CDP climate change, supplier engagement rating for two consecutive years
Fubon Financial has made continuous breakthroughs in the international environmental sustainability evaluation and created excellent results again! Fubon Financial won the leadership level of A List of “supplier engagement” in 2021 by CDP this month. It won the CDP honor after being awarded the leadership level of A List of “climate change” at the end of 2021. Fubon Financial has also become the only financial company in Taiwan to win the highest honor of “Double A” of CDP for two consecutive years, which shows that its efforts to promote the positive climate action of “Run for Green” have won international recognition.
Richard M. Tsai, chairman of Fubon Financial, indicated that net zero emission has become a global consensus and goal. In the face of environmental change and energy transformation, Taiwan’s large groups and SMEs will all suffer from the impact. As a leader in climate finance, Fubon Financial takes the future of Taiwan as its responsibility and actively creates a sustainable home for the next generation. In 2021, Fubon proclaimed the “Run for Green” to exert the corporate influence through communication and negotiation, enhance the awareness of sustainable environment of suppliers and customers for investment and financing, and assist SMEs to formulate low-carbon plans and gradually achieve carbon reduction goals through funds. Tsai stressed that Fubon expects to act as a sustainable leader and guide Taiwan companies to respond to the transformation of the world’s low-carbon economy in advance.
CDP is the most indicative non-profit evaluation organization in the field of global environment. It evaluates the environmental performance of nearly 10,000 companies around the world every year. Among them, the supplier engagement rating is mainly aimed at scoring companies in the subjects of environmental governance, carbon reduction targets, scope 3 carbon emissions, and supplier engagement. Fubon Financial won the highest A-List rating in terms of supplier engagement and scope 3 carbon emission aspects, which represents Fubon’s success in unleashing its corporate influence, promoting suppliers, upstream and downstream partners and investment and financing companies to reduce carbon emissions and strive to create a sustainable environment.
Fubon Financial regards suppliers as important sustainable partners and continues to deepen supplier sustainable management. Every year, by inviting suppliers to participate in CSR education, training, evaluation and exchange meetings, Fubon Financial conveys the concept of sustainability to suppliers, communicates practical issues and gives back suggestions for improvement. In recent years, the participation rate of supplier in CSR evaluation has increased year by year, the overall performance has gradually improved, and the number of suppliers with medium and high scores has continued to rise. Fubon Financial will continue to deepen the sustainable management and guidance of suppliers, support the sustainable transformation of small and medium-sized suppliers with relatively late start and lack of resources, as well as work together towards a sustainable future.
The financial industry plays a key role in the capital market. Fubon Financial also actively exerts its influence, echoes the “low-carbon” strategy, continues to guide funds to green industries, sets the goal of green finance reaching NT$2.45tn by 2025, and actively cooperates with customers to implement sustainable development. Taipei Fubon Bank launched the first green credit case certified by a third party in Taiwan, encouraging customers to use their funds for green equipment such as renewable energy power generation and zero coal-fired steam and electricity co-generation. Fubon Insurance fully participates in domestic offshore wind power insurance cases, improves the asset resilience of renewable energy industry, and creates more clean energy for Taiwan. Fubon is also committed to providing paperless financial services. In 2020, paper reduction grew by 30% over the previous year, reaching 828 metric tons. With A4 paper, it is estimated that 387 Taipei 101 can be stacked.
Fubon Financial has made unremitting efforts in the field of sustainability, holding itself to world-class standards, and has repeatedly won awards in major international competitions. It has been selected as a component of the Dow Jones Sustainability World Index (DJSI) for five consecutive years, and has kept pace with international benchmark companies in the highest palace of global sustainability. For five consecutive years, it has been selected into the MSCI ESG Leaders Indexes, and won AA rating (up to AAA) in the MSCI ESG rating, which is also the best performance in Taiwan’s financial industry. Fubon Financial will continue to achieve more possibilities for sustainability with positive social forces.