The impact of COVID-19
The year 2020 is a special year in human history.
Under the COVID-19 pandemic, the economy, society, and environment around the world have been
greatly affected, with some aspects being a temporary impact and others being permanent changes.
The pandemic has on the one hand, changed the way people live and work, and on the other
hand, accelerated the digital transformation of businesses and increased the depth and breadth
of digital services for the general public.
Standing at the origin of the subsequent trends triggered by this major historical event, E.SUN
is aware that amid the short-term response to the pandemic, what's more important is the
long-term preparation for the future after COVID-19. Therefore, E.SUN will focus on FinTech,
expansion in Asia, and risk management to strive toward the goals of sustainable development.
Back to nature
In 1970, Milton Friedman, winner of the Nobel Memorial Prize in Economics, published an article
titled "The Social Responsibility of Business Is to Increase Its Profits." In 1987, the United
Nation (UN) published Our Common Future, providing an official definition of sustainable
development: "Development that meets the needs of the present without compromising the ability
of future generations to meet their own needs." In 1997, English scholar John Elkington proposed
the Triple Bottom Line theory, positing that corporate social responsibility is the most
fundamental responsibility that companies must fulfill toward the economy, environment, and
society. In 2004, Who Cares Wins (WCW) UN Global Compact proposed for the first time to include
ESG factors in investment decisions, placing emphasis on integrating ESG issues in financial
analyses, asset management, and securities brokerage. In 2015, the UN announced the Sustainable
Development Goals (SDGs), which consisted of 17 goals and 169 indicators.
From CSR and ESG to SDGs, from shareholders to stakeholders, and from localization to
globalization, we understand that this was never a question of which to choose, but a challenge
of how to be inclusive in business management while keeping in pace with time. Peter F. Drucker
pointed out three dimensions in "The Practice of Management" in 1954. First, the purpose of
business survival is to generate economic outcomes. Second, a business is an organization
composed of people working together and needs to cultivate employees and develop a certain level
of governance. Third, a business is a social institution rooted within the society and community
and needs to take into consideration external social influence and social responsibilities.
Therefore, if we go back to nature, the scope of operation that a company needs to consider
would include the main business activities, the teams within the business, the society outside
of the business, and everything involved in the business.
No one can be a bystander
The disasters triggered by climate change and the COVID-19 pandemic have swept every corner of
the world. These phenomena further underline that the notions of "global village," "world
village," "We Are the World," or "Community with Shared Future for Mankind" are no longer merely
ideas but a fact that already exists. There has never been a moment like this in human history
where people are so closely connected. Through the media of economy, culture, politics, finance,
economy, climate, Internet, and even diseases, everyone becomes so closely related to the
society and environment, influencing and supporting each other through thick and thin.
Given the common goal of dissolving urgent crises while ensuring that everyone can live a better
life, no one can be just a bystander any more. The country, society, businesses, and individuals
therein must all play a part in sharing their expertise and responsibilities and work together.
From now on, tangible concrete efforts and the cohesion of correct intangible values are the
only way to make a difference directly or generate a positive effect indirectly on the future.
Corporate responsibilities and practices
For businesses situated in this new era, new environment, and new trend, ESG is not only the
standard for making investment decisions but also the basic condition for surviving the
contemporary era. Industries around the global are transforming into a green supply chain, which
poses stricter carbon requirements and due diligence on participating vendors. As a result,
businesses must tackle material ESG issues head-on, shoulder the responsibilities required of
them, and adopt the necessary practices, because those ignorant of reality will be eliminated by
the torrent of the great era.
For the financial sector, each and every industry and business and everyone involved can be
fully integrated through responsible investment, responsible lending, sustainable financial
products, corporate/retail banking loans, wealth management, primary markets, and secondary
markets, among other platforms. Subsequently, a massive ESG influence is generated. This is also
the main reason why the financial sector has been expected to play a key role in the trends of
ESG development and be given heavy responsibilities.
The efforts and expectations of E.SUN
Since its establishment in 1992, E.SUN has been committed to achieving the vision of turning
"E.SUN employees into first-class citizens of the world and E.SUN into a first-rate global
At the time, a group of like-minded financial professionals embarked on a mission to set up a
professional management team committed to building the best bank in Taiwan, with the expectation
of striving toward sustainable operations. After nearly 30 years of dedicated efforts, E.SUN has
deeply cultivated the basic skills required to fulfill CSR, internalized ESG into its main
business operations, and became a driving force for change and innovation. This effort will
continue now and forever.
We expect companies to commit to ESG without thinking about competition, because ESG is not a
zero-sum concept but a common good. What everyone is competing for
is not about winning or losing in business but to fight for "our common future." This is by no
means a short-term competition, but a long-term goal that can be achieved only by combining the
strengths of various companies, industries, and countries, changing the way people think, and
putting more effort into doing the right thing together.
Just as carbon emission will not reach net-zero, everything that everyone has may go down to
zero. Only by bracing the new challenges of ESG can we find new opportunities and jointly create
a new brigher future.