Fubon Financial

Lead Taiwan Towards Green Finance to Achieve Sustainability One Step Further

The 20th "Global Views ESG Enterprise Sustainability Award" ceremony was held today (May 2nd) by "Global Views". Fubon Financial Holdings has been recognized for the 5th time and for three consecutive years with the "Comprehensive Performance - Financial Insurance Industry Model Award". Its subsidiary, Fubon Life, has also been honored with the "Outstanding Program - First Prize in the Environmentally Friendly Category" for its "River Waste Investigation Program". This program is the first of its kind in the life insurance industry to receive the first prize in the environmentally friendly category, and its outstanding performance has been highly recognized.

The "Global Views ESG Enterprise Sustainability Award" is now in its 20th year and is one of the most credible ESG awards among global Chinese media. The competition consists of two categories: the "Comprehensive Performance Award" which evaluates companies' comprehensive ESG policies and practices, and the "Outstanding Project Award" which is evaluated based on eight major themes. A total of 77 companies and 116 entries have been shortlisted for this year's award.

Richard M. Tsai, Chairman of Fubon Financial Holdings, expressed the commitment of Fubon Financial Holdings to embody the brand spirit of "Be positive All possible" and leverage its corporate influence to promote sustainable operations. The company is dedicated to advancing sustainable finance, low-carbon operations, net-zero initiatives, financial security, and financial inclusion. With the enduring concept of "one step further" towards sustainability, Fubon Financial Holdings is committed to being a front-runner in green finance, leading Taiwan towards a net-zero society and contributing to the creation of a sustainable future.

Fubon Leads Taiwan's Green Finance Industry with Numerous Industry-First Initiatives

Fubon Financial Holdings is proactively responding to global and Taiwan's net zero trends and policies by committing to implementing SBT science-based carbon reduction targets, leading the financial industry in Taiwan by publishing the first TCFD report, and becoming a member of international sustainable advocacy organizations such as PCAF, AIGCC, CA100+ and RE100. Fubon Financial Holdings is dedicated to implementing carbon reduction strategies in its operations. Through continuous efforts in energy conservation, energy generation, and energy procurement, the company is progressively reducing its own reliance on electricity generated from non-renewable sources. At the same time, in order to adhere to the core values of the circular economy, Fubon Financial Holdings has introduced a classified recycling mechanism with UL2799 zero waste to landfill certification during the demolition process of its Fubon Insurance headquarter building. This pioneering initiative has earned the distinction of being the first construction demolition project globally to receive UL2799 gold certification.

In the financial core business sector, Fubon Insurance has taken the lead in committing to "Net Zero Underwriting by 2050". The objective is to cease underwriting companies in the coal and fossil fuel industries that do not have specific carbon reduction actions or low-carbon transition plans after 2050. Furthermore, for existing policies in these industries, the underwriting proportion will no longer be increased after 2023, in order to contribute to a net-zero home.

Fubon is actively implements the spirit of financial inclusion and provides 361 degrees of warm service to various groups such as the elderly, people with disabilities, new immigrants, and foreigners. Fubon Life has been providing subsidies for elderly cancer patients in rural area and transportation services for 6 consecutive years, as well as cooperating with the Senior Citizen's Welfare Foundation for 8 consecutive years to prevent elderly people from getting lost by providing them with anti-wandering bracelets. These endeavors contribute to the preservation of dignity and the aging process of the elderly. Taipei Fubon Bank has taken a pioneering step by introducing sign language translation services and establishing branches that are international-friendly. Through the use of two-way translation devices, the bank has built a platform for communication between different ethnic groups. Furthermore, the bank has inaugurated a wing branch specifically designed to provide a supportive workplace for students with disabilities. Fubon Insurance introduces a training program for grandparents, which focuses on enhancing their narrative abilities through the use of children's educational risk picture books as teaching materials. This initiative aims to foster a sense of self-fulfillment among the elderly while also promoting social engagement. Fubon Securities provides translation services in multiple languages for foreigners and elderly customers can call the toll-free senior hotline and be connected to customer service representatives without the need to navigate through voice options in order to ensure equal access to financial services for all ethnic groups.

Fubon Life's River Waste Investigation Program has been Awarded the First Prize in the Domestic Life Insurance Industry

Fubon Life has been honored with the first prize in the environmental friendly category for its "River Waste Rapid Screening Investigation Program" this year. This is not only the first time that Fubon Life has received such recognition, but also the only life insurance company in Taiwan to be acknowledged with the first prize in this category. Taiwan is surrounded by the sea on all sides and has numerous rivers. It is estimated that around 80% of the waste that enters the rivers ultimately flows into the ocean. This not only disrupts the ecological balance but also poses a significant threat to human well-being. In order to effectively implement corporate sustainable governance, Fubon Life has partnered with The Society of Wilderness since 2021 to actively promote the "River Waste Rapid Screening Investigation Program." This program aims to engage local colleagues and the general public as volunteer investigators who will conduct surveys along riverbanks and estuaries by either cycling or walking. In order to enhance the coverage rate of investigation, the implementation of drone collaboration has been introduced in 2023. This will enable the recording and analysis of crucial data such as the distribution hotspots, types, and quantities of waste in multiple river basins across Taiwan.

So far Fubon Life has expanded its caring influence to five major river basins, including the Wu River in Taichung, the Toucian River in Hsinchu, the Tamsui River in Greater Taipei, the Houjing River in Kaohsiung, and the Beigang River in Yunlin. The findings of the published report on river waste investigation have not only gained support from various river management branches and county/city governments, but also promoted the efficiency of waste removal, optimized river governance strategies, and combined with regular review planning to continuously assist the public sector in monitoring the progress of waste management improvements. Furthermore, utilizing the findings of the survey report to promote environmental education in enterprises, schools, and communities will also encourage more people to participate in river and ocean conservation efforts. By embracing eco-friendly practices like reducing plastic waste, waste minimization, and recycling, we can work together to achieve a sustainable future for water resources.