Social Involvement Policies and Investments

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Social Involvement Policies and Goals

Upholding the spirit of "benefitting from society and giving back to society", SinoPac Holdings established the "Social Involvement Team" under the Sustainable Development Committee. It organizes the philanthropic activities of the Group and subsidiaries and uses the core financial competencies of the Group to give back to society. Activities planned were aligned with the United Nations Sustainable Development Goals (SDGs) and focused on three action plans including promoting cultural equality, raising public’s climate awareness, and supporting charity organizations/social enterprises and the employment of vulnerable groups. The three action plans support SinoPac Holdings' three sustainability commitments.

Social Involvement Projects Overview

SinoPac Volunteer System and Goals

SinoPac Holdings established a volunteer system in 2018 and invite employees who participated in volunteer service to join the volunteer team. Information on volunteering activities were shared from time to time to encourage them to perform volunteering services and application on official leave, transportation fares, and housing allowance were provided depends on the type of service. The number of employees who joined the Volunteer Team reached 1,172 by the end of 2020.
SinoPac Holdings devotes to philanthropic activities continuously by contributing to society through different forms of involvement such as providing sponsorships, co-organizing activities, and corporate volunteer participation. In 2020, the total expenditure on philanthropic activities reached NT$20,382 thousand, and the total time volunteers devoted to philanthropic activities reached 2,154 hours. Paid volunteers who volunteered in weekdays accounted for a total of 391 hours and unpaid volunteers who volunteered in weekends accounted for a total of 1,763 hours.

Social Involvement Policies and Goals

SinoPac Holdings began planning and adopting Social Return on Investment (SROI) by the end of 2019 to evaluate the social impact created by the "Smart Wholesale Market Transaction Facilitation Platform" in the auction area of New Taipei City Fruit & Vegetable Market. The results are shown in monetary terms. SinoPac Holdings directly engages and interacts with stakeholders through interviews and surveys and monitors the actual benefits of projects and activities by calculating SROI and to seek for room for improvements. In the future, SinoPac Holdings will also use social impact analysis mechanisms as evaluation mechanisms for long-term management of internal social Involvement projects.

In 2020, the result of SROI calculated by Bank SinoPac was NT$6.17, which means that every NT$1 invested by Bank SinoPac yielded NT$6.17 in value created for the society. The SROI analysis showed that the total benefits for merchants and the fruit and vegetable market accounted for 80% of the results, which means that SinoPac’s Smart Merchants Market Transaction Facilitation Platform is an altruistic business model. For merchants, the main benefits of the platform are "increased fund utilization flexibility" and "relief of physical and mental stress". The online payment system launched by Bank SinoPac has made it unnecessary for merchants to stand in line for payment. Before the platform was introduced, only 30% of the merchants used automatic fund transfer. After the platform was introduced, the percentage increased to 57% and Bank SinoPac succeeded in making the changes it sought to create. In addition, the SROI results confirmed the expected results of the Smart Wholesale Market Transaction Facilitation Platform, and analysis conducted by Bank SinoPac showed that most of the users of the automatic fund transfer function were young people. Merchants who are older are less willing to use the platform and Bank SinoPac will enhance communication with older merchants to expand the influence of the platform.

The most significant benefits of the Smart Wholesale Market Transaction Facilitation Platform for the fruits and vegetables market are "maintenance and operation performance" and "increased business efficiency". The introduction of the platform has helped New Taipei City Fruit & Vegetable Market reduce the administrative work for payment notices. It could reduce manpower cost and improve operating efficiency.