Bank SinoPac Was Honored with Taiwan’s Best Bank for CSR 2021 by Aisamoney

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Fully committed to ESG, BSP is the only Taiwanese financial institution winner in 2021

【2021.7.15】

SinoPac Holdings (SPH) takes proactive actions and fully commits to corporate social responsibility (CSR). Its’ subsidiary, Bank SinoPac (BSP), provides financial services for migrant workers and initiates a unique smart wholesale market transaction facilitation platform. This has improved financial literacy and inclusion, resulting in BSP being honored with Asiamoney’s Taiwan's Best Bank for CSR 2021. BSP is the only Taiwan financial institution winner in 2021. 

The assessment group highly recognized the thoughtful financial services that BSP has provided for foreign migrant workers. It is one of the key reasons that BSP stood out among many competitors and became the best CSR bank in Taiwan this year. In addition, the pioneer smart wholesale market transaction facilitation platform is also a highlight because it effectively simplifies the process of the traditional wholesale market. 

SPH and its subsidiaries have fully committed to sustainable development. During the COVID-19 outbreak, the SPH group donated a total of NT$ 30 million equivalents of anti-epidemic materials, equipment, and funds to people in need. SPH also held a series of ESG lectures to discuss global risk movements with industry, government, academic, and financial peers and how the financial sector should respond properly. SPH continues to issue sustainable financial products that comply with ESG regulations and incorporate ESG information. It also took ESG indicators into the investment decision-making process.

In addition, BSP is the first bank in Taiwan to issue green bonds and sustainable bonds. In May 2021, BSP issued Taiwan's first social bond. BSP signed the Equator Principles in 2020 and continues promoting the green energy transition in line with the green energy policy. The outstanding loans for solar power plants at the end of 2021 are expected to exceed NT$ 60 billion.

SinoPac Securities Investment Service Corp., a subsidiary of SinoPac Securities, recently launched an ESG evaluation system for Taiwan stocks. The investment team hopes to establish a benchmark for the ESG evaluation process to help more investors move towards sustainable investment. 

SinoPac Investment Trust continues to issue sustainable financial products. It launched Taiwan's first ESG active mutual fund in 2020 and the SinoPac Global High Quality ETF Umbrella Fund in 2021. SinoPac Taiwan Target Exposure ESG ETF, which tracks FTSE Taiwan Target Exposure ESG Index, incorporates ESG into investment decisions and fully responds to ESG sustainable development.