SinoPac Holdings Introduces Social Impact Assessment System to Strengthen Public Welfare Efforts
【2022/03/09, Taipei】To boost the impact of its public welfare activities, SinoPac Holdings has employed Social Return on Investment (SROI) and introduced a Social Impact Assessment System. Its first assessment pilot project was "2021 Let's Go to the Theater—Drama," the results of which showed that "every NT$1 invested can generate a social value of NT$2.66." President Stanley Chu said that in addition to having compassion and enthusiasm, companies should quantify and manage the performance of their public welfare activities so that resources can be appropriately allocated, thereby expanding their impact.
In 2020, Bank SinoPac, a subsidiary of SinoPac Holdings, introduced the SROI assessment plan into its Smart Agricultural Trading Platform, generating 617% social impact. To extend the SROI measurement and management of public welfare projects, SinoPac Holdings, under the guidance of professional consulting companies, implemented a Social Impact Assessment System. The company created standardized questionnaires covering different aspects and calculated the social value from the participants' feedback.
In the first year, with "promoting cultural equality" as the theme, "2021 Let's Go to the Theater—Drama," sponsored by Bank SinoPac and hosted by the National Taichung Theater, was selected as the pilot project. SinoPac Holdings president Stanley Chu said that in the future, the company will sequentially and systematically introduce the assessment system based on the three major aspects of social engagement: promoting cultural equality, raising climate awareness, and supporting public welfare groups/social enterprises & helping the disadvantaged find employment. It will design content suitable for participants and beneficiaries to elevate public welfare activities and increase social impact.
The National Taichung Theater, which was invited to participate in the pilot project, explained that "Let's Go to the Theater" activities are founded on aesthetic education. With corporate support, "Let's Go to the Theater" has been held for six years, and the National Taichung Theater hopes to change lives through art and elevate Taiwan's art environment through aesthetic education. The selection of "2021 Let's Go to the Theater—Drama" as the demonstration project not only saw social impact calculated at 266% but also showcased the degree and aspects of the abovementioned change and elevation. For audiences under 18, this event effectively stimulated their perception, imagination, and creativity, establishing positive values by watching the performance. For the performers, this reduced time and financial pressures while providing increased visibility and a sense of achievement. As for SinoPac, the company's combination of aesthetic and financial education received praise from participants.
SinoPac Holdings is committed to promoting sustainable development and has made impressive achievements to this end. The company received 174 foreign and domestic awards in 2021, including 49 ESG awards; was selected as a component stock in the DJSI Emerging Markets Index; and received a Leadership Level A- from the Carbon Disclosure Project (CDP). It also received the Platinum Award and Best Environmental Responsibility Award from The Asset ESG Corporate Awards, along with the Taiwan Top 50 Corporate Sustainability Award, Corporate Sustainability Report Award, Social Inclusion Award, Gender Equality Award, Growth Through Innovation Award, and Information Security Leadership Award from the Taiwan Corporate Sustainability Awards (TCSA). For its outstanding performance, SinoPac Holdings has earned recognition from institutions both foreign and domestic.
