Energy and Resource Management
- Environmental Policy
- Energy and Resource Management
- Greenhouse Gas Management
Since 2018, SinoPac Holdings has implemented the greenhouse gas inventory using the operational control approach to obtain information on the total greenhouse gas emissions of SinoPac Holdings and its subsidiaries. The Company has also set short, medium, and long-term reduction targets for Scope 1 and Scope 2 emissions in accordance with the financial industry indicators of the Science Based Targets Initiative (SBTi). The Company will achieve net zero emissions goals in 2030 through energy conservation and carbon reduction, use of renewable energy, and renewable energy certificates.
- Energy Management
SinoPac Holdings introduced ISO50001:2018 Energy Management System in 2019 for the first time to manage energy efficiency. In 2022, SinoPac Holdings implemented ISO50001:2018 in the fourth self-owned building (Nanjing) and introduced ISO50001:2018 to the fifth self-owned building (Taikai), which exceeds the original target and increased the coverage of certification to 35%. The Company also continuously monitors and measures the performance of energy conservation measures based on the key characteristics of operations. In light of the national energy policy, SinoPac Holdings has set an annual goal of reducing electricity consumption by 1% since 2018.
SinoPac Holdings also signed a Power Purchase Agreement (PPA) in 2022, which is planned to introduce of a total of 3.3 million kWh green electricity per year. Also Bank SinoPac launched an experimental project that constructing rooftop solar photovoltaic energy generator at the own office building. SinoPac Holdings completed the construction of rooftop solar PV system totaling 13.5KW, which is expected to generate approximately 16,000 kWh each year (equivalent to approximately 8 tons of carbon emissions reduction). This prompts SinoPac Holding to start the green energy and low-carbon transformation plan, moving towards the vision of sustainable finance.
- Implementation of Internal Carbon Pricing (ICP)
SinoPac Holdings follows the principle of "raising climate awareness and promoting low-carbon transformation" and supports sustainable trends while implementing carbon reduction management mechanisms. The Company introduced ICP in 2022 starting with a pilot program in certain own-buildings of the Group, and later expanding it to the Group and level one subsidiaries. By improving energy efficiency and reducing carbon emissions, it raises carbon reduction awareness and changes internal behaviors within the company.
After referencing the ICP schemes of domestic and overseas companies, SinoPac Holdings used the GHG emissions from in its own electricity consumption (Scope 2) as the baseline to evaluate the effectiveness of energy conservation and carbon emissions reduction actions of its operating sites. The hidden carbon costs and benefits were included in the evaluation and the analysis showed that the average cost for reducing 1 ton of carbon dioxide emissions of the Group in recent years was NT$5,000/ton CO2e. This price was adopted as the basis of reference for internal carbon pricing and for setting the shadow price. The internal carbon pricing mechanism was launched in pilot programs for one Bank SinoPac building and one SinoPac Securities building. The electricity conservation benefits were evaluated based on the carbon reduction targets to calculate the carbon pricing. SinoPac Holdings calculated the carbon fees for units that failed to meet targets and calculated the carbon income for units that met the targets. At the beginning of each year, the Company will use the carbon reduction targets and implementation status of subsidiaries to calculate their carbon emission costs/carbon income to determine the optimal action plan and formulate carbon reduction plans for attaining real carbon reduction results. SinoPac Holdings will continue to use Science Based Targets (SBT) and international carbon pricing trends for continuous ICP adjustments and gradually link the ICP to our commitment for attaining net zero emissions in company operations by 2030 while expanding the scope of application.
- Waste Management
Waste from the office buildings of SinoPac Holdings and its subsidiaries is mainly domestic waste. Recyclable waste is divided into four categories: paper, bottles, iron and aluminum cans, and IT equipment. All general and recyclable waste is shipped by qualified contractors to incinerators or recycling sites for disposal. The paper waste is collected and managed by the responsible unit of the Company and handled in accordance with the document destruction rules before handed over to the paper manufacturer for disposal as recycled paper raw material.
The waste of electronic product waste is handled in accordance with internal information safety rules, and any digital data related to customer information is also kept secure and confidential and destroyed in accordance with the internal rules and procedures.
- Water Resources Management
The water resources consumed by SinoPac Holdings and its subsidiaries are mainly tap water, and mainly used for drinking, air conditioning, and cleaning. There is no groundwater or other sources of water supply. SinoPac Holdings will continuously take relevant water conservation measures to reduce average water consumption by 1% per year.