Sustainability Commitments
- Roadmap
- Sustainability Commitments
Based on the five sustainability themes, SinoPac Holdings focused on three sustainability commitments and set action plans with short-term, medium-term, and long-term goals in response to the eight SDGs of the United Nations, as described below.
Unequal opportunities and unbalance resource allocation remain unsolved issues in current society. The differences in socioeconomic background, gender, and race not only lead to a lack in income and resources, but also lead to a lack of equal opportunities in many aspects including education, employment, medical care, and political participation, and a lack of personal security for certain groups of people. In the long run, the inequalities will inevitably become potential issues for common prosperity and inclusive growth.
“The social and economic consequences of inequality are profound and far reaching: a growing sense of unfairness, precarity, perceived loss of identity and dignity, weakening social fabric, eroding trust in institutions, disenchantment with political processes, and an erosion of the social contract. The response by business and government must include a concerted effort to create new pathways to socioeconomic mobility, ensuring everyone has fair opportunities for success.”
By Klaus Schwab Founder and Executive Chairman of the World Economic Forum
Many of the United Nation’s SDGs reflect inequality
| Action Plans and Short-term, Medium-term, and Long-term Goals |  |
In 2016, the International Monetary Fund (IMF) pointed out that global warming is positively related to economic losses. The latest data in 2021 from Munich Re also indicated that the monetary losses from hurricanes, heavy snowfalls, and floods reached US$120 billion, hit the second highest in history. Furthermore, the Intergovernmental Panel on Climate Change (IPCC) in 2021 released the Sixth Assessment Report (AR6), in which it clearly indicated that human-induced climate change is already affecting many weather and climate extremes in every region across the globe. Evidence of observed changes in extremes such as heatwaves, heavy precipitation, droughts and tropical cyclones, and, in particular, their attribution to human influence, has strengthened since the Fifth Assessment Report (AR5). Therefore, how to respond to climate risks, identify market demand and early deployment, and help industries for a low-carbon transformation through financial services, is currently the biggest challenge as well as opportunity for the financial sector.
" Achieving net zero emissions will require a whole economy transition – every company, every bank, every insurer and investor will have to adjust their business model. This could turn an existential risk into the greatest commercial opportunity of our time. "
By Mark Carney Chairman of the Financial Stability Board
Many of the United Nation’s SDGs reflect climate change
| Action Plans and Short-term, Medium-term, and Long-term Goals | |
After the outbreak of the global financial crisis in 2008, the world economy and industrial structure changed, and the uneven distribution of income and the deteriorating labor environment have become social issues that all countries need to solve urgently. The financial industry is regarded as a key force to improve the industry and promote economic transformation, and because its funds mainly come from the trust and support of the general public, it is expected to be able to implement financial inclusion, properly use social resources, and effectively exert influence for education, health, social welfare and other aspects, providing opportunities for the disadvantaged groups to change their life and promoting the common prosperity and growth of society.
“The truth is that our economic growth models have not equitably distribute benefits. Inequalities were brewing under the surface prior to 2007 and increased almost everywhere even during periods of sustained economic growth. We need to reverse this trend. Inclusive Growth has an important role to play in responding to the pressing needs of today and addressing the underlying trends that pushed our economic and social systems into disequilibrium.”
By Jose Angel Gurria Secretary General of OECD
| Action Plans and Short-term, Medium-term, and Long-term Goals | |