SinoPac Holdings organizes SinoPac ESG Forums 2021 and invites Mr. Peter Pu, Managing Director of the British Standards Institution (BSI) to share analysis insights from the 2021 Global Risks Report
[May 11, 2021, Taipei] The COVID-19 pandemic had changed the lifestyles people were used to and drastically impacted the economy and society. The 2021 Global Risks Report released by the World Economic Forum also highlighted global risks have undergone radical changes. SinoPac Holdings recently organized the 2021 SinoPac ESG Forums on May 4 where Mr. Peter Pu, Managing Director, NE Region at BSI Group was invited to give a speech on the topic of "Latest global risks perceptions and progressing towards sustainable finance" with about 200 attendees comprising of industry and public sector experts, counterparts in the finance sector, as well as group directors, senior executives and colleagues from SinoPac Holdings. Discussions revolved around the evolving global risks and how the finance sector should respond appropriately to achieve the goal of being exemplary models for sustainable finance.
In her speech, Ms. Shi-Kuan Chen, Chairman of SinoPac Holdings, pointed out that the financial industry had amassed huge social resources and should assume higher social expectations and responsibilities than the generic industries. Faced with the pandemic and various possible major risks, on top of having clarity in terms of sustainable development goals and strategies, having substantial organizational resilience is imperative to pull ourselves and all stakeholders through such difficult times.
Managing Director Pu provided insightful analysis on the changing landscape of global risks under the pandemic, citing that employment and livelihood crisis, and widespread youth disillusionment are the most probable threats in the short term (within two years), while economic risks, including asset bubbles and debt crises, feature prominently in the medium term (3-5 years). On a long-term horizon (5-10 years), environmental risks such as biodiversity loss and climate action failure dominate. In the face of risk uncertainties, Mr. Pu stressed that enterprises must not take chances and or be overconfident, and must identify key talents for digital transformation, harness innovative sustainable business models and foster a robust corporate culture with an emphasis on getting real work done.
He also mentioned that corporate sustainability is, by now, the mainstream for the financial industry. Only by bringing out the core values of an enterprise, entrenching the culture of sustainable governance, aligning with various international sustainability norms or initiatives, and continuously innovating sustainable actions can we achieve the sustainability vision, become a benchmark enterprise for sustainable finance, and achieve the United Nations Sustainable Development Goals (SDGs) and Net Zero emissions by 2030 and 2050 respectively.