Policies and Commitments
"Mitigate and Adapt to Climate Change" is one of SinoPac Holdings’ three sustainability commitments. To implement the Sustainable Development Roadmap and enhance ESG risk management mechanisms, we integrated climate change risks into our“Risk Management Policy” and established the "Guidelines for the Management of Climate-Related Risks and Opportunities" to strengthen the management of climate risks and opportunities. We have assessed the climate related risks and opportunities, identified the financial impacts in various climate scenarios for the physical risks and transition risks, and implemented responsive mitigation or adaptation measures accordingly.
Considering that climate change has become one of the major risks to the global economy and human survival, governments and corporations in the globe have committed to net zero greenhouse gas emissions. On March 15, 2022, the Board of Directors has approved our net zero commitment, including its own operations by 2030 and its financial portfolios by 2050. We signed the Science Based Targets initiative (SBTi) commitment letter in Aug. 2022 and submitted the science-based target for approval in December 2022. We will collaborate with stakeholders to a low carbon transformation and contribute to Taiwan’s net zero through the sustainable finance.
Besides, we participate in the association of financial industries, seminars and events to support and promote international climate initiatives and make suggestions as appropriate. We also actively develop sustainable finance products in hopes of using the financial industry's influence to help industries in low-carbon transition. For example, we pay close attention in the issues related to climate change, and has become a TCFD supporter and a member of Taiwan Business Council for Sustainable Development (BCSD), in which our chairman served as an executive supervisor. SinoPac Holdings is also one of the co-founders of the "Taiwan Sustainable Finance Promotion Platform" and “Taiwan Nature Positive Initiative” established by BCSD in January 2021 and December 2022 respectively, aiming to working with the Platform/Initiative to create a sustainable financial ecosystem in Taiwan and help corporates increase natural risk resilience.