The prestigious financial media outlet, The Asset, held its 2024 The Asset ESG Corporate Awards ceremony on November 7 in Singapore. Sinopac Holdings has been awarded The Asset's Excellence in ESG - Platinum Award for four consecutive years since 2020. This year, the company has reached a new milestone by receiving the highest honor in ESG (Environmental, Social, and Governance) - the "Jade Award."
Starting from July 1 this year, Sinopac Holdings elevated its Sustainability Development Committee to a board-level committee, inviting all three independent directors of the holding company to join, demonstrating its commitment to sustainable governance. Additionally, a Sustainability Office was established under the board, with the Vice President of the holding company appointed as the Chief Sustainability Officer. This makes Sinopac Holdings the first financial holding company in Taiwan to establish a Chief Sustainability Officer and a Sustainability Office under its board, setting a high standard in the domestic industry and fulfilling its commitment to sustainable development.
In addition, Sinopac Holdings has been deeply involved in solar power financing for over a decade and is the only financial institution to receive the Energy Administration, Ministry of Economic Affairs (R.O.C.)- Top Solar Awards - Best Financial Service Provider Award for 9 consecutive years, supporting Taiwan's net-zero goals through green finance. These initiatives highlight Sinopac Holdings' outstanding performance in sustainable development, demonstrate leadership and innovation, and were highly praised by the judges, leading to this prestigious honor.
In recent years, Sinopac Holdings has received high recognition in both domestic and international sustainability ratings, including the constituents of DJSI World Index and the DJSI Emerging Markets Index, being ranked in the top 5% of the S&P Global Sustainability Yearbook in the banking sector for three consecutive years, achieving an AA Leadership rating in the MSCI ESG Ratings, receiving the highest "Leadership Level A" honor in CDP Supply Chain Engagement, and earning the "Leadership Level A-" in CDP Climate Change for four consecutive years, and receiving the "CommonWealth Magazine's Corporate Citizenship Award" for five consecutive years. Winning of the "Jade Award" further underscores Sinopac Holdings' exceptional performance in sustainable development, with gaining significant international recognition and demonstrating remarkable results.
Sinopac Holdings is committed to achieving net-zero emissions for its own operations by 2030 and for its entire of financed portfolio by 2050. The company has set and validated science-based targets (SBT) for emissions reductions and is actively promoting green operations. It is also integrating its subsidiaries to create a green finance ecosystem, directing funds to green and sustainable economic activities, and providing the necessary financial support for energy and industrial transformation, aiming to leverage financial power to help Taiwan achieve its net-zero goals. In addition, since July 2022, Sinopac Holdings has been gradually phasing out investments, financing, and underwriting of fixed-income products related to coal mining, power generation, and unconventional oil and gas, and plans to completely exit coal-related project financing by 2030, including mining, power generation, processing, trading, transportation and logistics, equipment manufacturing, and infrastructure construction. Sinopac Holdings will continue to take concrete actions to promote sustainable development, create greater value for society and the environment, and moving forward with the corporate vision of "Together, a better life."
