ESG News

E.SUN FHC is proud to join a group of 318 financial institutions and multinational firms with $37 trillion in assets and spending power in calling on over 1,000 of the world’s highest impact businesses to set emissions goals in line with the Paris agreement’s 1.5°C goal.The 2022 CDP Science-Based Targets campaign is coordinated by the global non-profit CDP, which runs the world’s environmental disclosure system. E.SUN encourages the targeted companies to set an emissions reduction target approved through the Science Based Targets initiative, the industry standard for credible climate targets that cover all of a company’s value chain emissions.CDP sent letters on behalf of E.SUN FHC and the other participating organizations to over 1,000 companies worldwide. The 1,000 companies targeted are critical for global efforts to limit global warming to 1.5°C. They are the source of 7 gigatons of Scope 1 and 2 emissions and have a combined market value of over US$25 trillion (44% of the entire MSCI All Country World index).Laurent Babikian, Joint Global Director Capital Markets at CDP, said: “We are encouraged by the continued growth and success of this campaign, demonstrating that financial institutions see science-based targets as essential for all companies, and necessary for them to meet their own net-zero ambitions.”E.SUN Bank Chairman Mr. Joseph Huang, stressed that climate change is a material time-bound issue that will impact the world. If companies do not take sustainable development seriously, no amount of financial and business performance will be meaningful in the face of a climate event. For the massive transition required to face a net-zero world and sustainability, E.SUN believes that cross-industry experience exchanges and pooling their collective wisdom are necessary, and that is why we are calling on companies to take action towards a sustainable and beautiful homeland with net-zero emissions.  

E.SUN FHC responded to the #NetZeroActionDay initiated by the Science Based Targets initiative (SBTi) on the 20th, actively calling on companies to commit to setting net-zero targets, include climate change in their operations and development strategies, and set science-based net-zero targets through the Net-Zero Standard.The goal of #NetZeroActionDay is to rally support from companies in various industries and regions for joint initiatives so that government leaders can play a stronger role in addressing climate issues at the COP27 and G20 summits in November. The key to progression towards global net-zero is the companies’ long-term net-zero targets. SBTi is universally recognized as the most credible carbon reduction organization. SBTi unveiled the SBTi Corporate Net-Zero Standard in October 2021. The standard clarifies relevant definitions of net-zero goals and sets the criteria and requirements for formulating net-zero targets for various industries to help companies preparing to set net-zero targets. It encourages companies across the world to set science-based targets under the global vision of controlling temperature rise within 1.5°C by 2050.E.SUN has committed to set science-based net-zero targets and become the first financial institution in Taiwan and second in Asia to get approved the near-term science-based emissions reduction target by SBTi. The scope of emissions included business operations and investment and financing positions, which are most critical for the financial industry. We also adjusted our investment and loan strategies based on the SBTs. We promise to phase out coal related industries by 2035 and direct funds towards low-carbon and renewable energy industries, develop carbon asset management mechanisms, including setting internal carbon prices when granting credit and negotiating with reference to the customer's emission intensity, and provide sustainable financial products to help customers reduce emissions, expand the impact of carbon reduction in society, and systematically and strategically move towards net- zero by setting SBTs.E.SUN Bank Chairman Mr. Joseph Huang (黃男州), said that climate change is a material time-bound issue that will impact the world. If companies do not take sustainable development seriously, no amount of financial and business performance will be meaningful in the face of a climate event. We need to act right now. This is our responsibility and our value. E.SUN continues to use the power of finance to help companies and their supply chains improve their ESG performance, accelerate ESG transformation, and combine the capabilities of customers and partners to take action and do the right thing, jointly working towards a sustainable and beautiful homeland with net-zero emissions.  

E.SUN Bank today convened a press conference on “E.SUN ESG and Sustainability Initiative.” President Ms. Ing-Wen Tsai(蔡英文) personally attended the event, during which founder of E.SUN Mr. Yung-Jen Huang(黃永仁), Chairman Mr. Joseph Huang(黃男州), and over 100 outstanding enterprise advocated for ESG sustainability.E.SUN ESG and Sustainability Initiative was jointly launched by E.SUN and 32 like-minded corporate partners that signed the Sustainable Development Advocacy in 2021, and took action on the most pressing climate change issues, in hopes of controlling GHG emissions and mitigating the impact on the climate and environment. The companies also implemented an array of ESG measures and promoted the United Nations Sustainable Development Goals (SDGs). A total of 101 companies joined E.SUN ESG and Sustainability Initiative in 2022, including leaders and hidden champions of various industries, accounting for 23% Taiwan GDP in 2021 with total revenue 5.08 trillion NT dollars. The participating companies jointly pledged to carbon emission reduction with least 1.57 million tons by 2025. Among the participating companies, 46 of them committed to net zero by 2050.President Tsai rang the “Bell of Hope” at the press conference, demonstrating Taiwan’s determination to net zero emissions transition. President Tsai stated that with more companies’ participation in the ESG and sustainability initiative, she has stronger confidence in Taiwan’s future. President Tsai said that in response to international trend and green supply chain transition, the government has been focused on energy transition. The government will assist corporations in transitioning to low carbon operation, and expect leading companies to render assistance to their suppliers. Through the joint effort of government and corporations, Taiwan can transform the challenge into opportunity that benefits the development and competence of all industries and integrating into international standard.Taiwan is actively transitioning towards net zero emissions by 2050, which has gained strong support from the government, the business sector, and is also being taken very seriously by many NGOs. Eugene Chien(簡又新), Chairman of Taiwan Institute for Sustainable Energy and James C. F. Huang (黃志芳), Chairman of Taiwan External Trade Development Council were invited to attend the press conference, sharing international ESG trends through conversations among experts. Solutions were recommended after analyzing the difficulties encountered by enterprises in ESG practices, in hopes of helping enterprises continue to transition towards sustainable development.E.SUN Bank Chairman Mr. Joseph Huang stressed that for the massive transition required to face climate change and sustainable development, he believes that cross-industry experience exchanges and pooling their collective wisdom will allow Taiwan's voice to be heard by the world, and let the world see the pride of Taiwan. E.SUN has insisted on ESG since it was founded in 1992, and continues to climb the three mountains "overall performance, corporate social responsibility, and sustainable development." E.SUN set challenging goals to reach the milestone of net zero emissions by 2050, and became the 1st financial institution in Taiwan and 2nd financial institution in Asia to pass the review of carbon reduction goals according to guidelines of the SBTi. E.SUN also declared the mid-term and long-term goals for 100% of domestic locations to become green buildings by 2027, and 100% of domestic and overseas locations to use green electricity by 2040.E.SUN's vision is to become a first-class corporate citizen on the path to sustainability, which it considers an important development strategy. E.SUN hopes that like-minded partners will encourage each other and work together, so that more enterprises in the value chain will come together to achieve balanced development of the economy, environment, and society, and take strides towards a more resilient and sustainable future!  

Tuesday, 19th July 2022: E.SUN FHC, one of Asia’s leading financial services organizations based in Taipei, has joined the RE100 initiative and committed to using 100% renewable electricity across their global operations by 2040. Sam Kimmins, Head of RE100 at The Climate Group said, “We are delighted to welcome E.SUN to RE100. By committing to 100% renewable electricity by 2040, E.SUN joins over 300 of the world’s leading businesses committed to driving market change. This sends a powerful message that renewable electricity makes good business sense, and we encourage others to follow.” In order to accelerate change towards zero carbon electricity through the power of finance/investment, RE100 set further criteria in financial sectors, including manage the impact of its financed emissions, phase out the financing in coal-fired power and thermal coal mining, and limit significant investments in fossil fuels projects. RE100 has recognized the need for the financial sector to contribute effectively to the energy transition and to thrive in a carbon constrained future.Magi Chen, President and Chief Sustainability Officer (CSO) of E.SUN FHC, said, "It has been the responsibility and mission of E.SUN to protect this beautiful land since it was founded. Before being approved to become a member of RE100, E.SUN has dedicated years of effort to environmental sustainability, including becoming the largest buyer of renewable energy, completing an inventory of carbon emissions from the most crucial investment and loan positions of financial institutions, gradually changing policies and processes for investment and lending, and becoming the 1st financial institution in Taiwan and 2nd in Asia to pass the review of the Science Based Targets Initiative (SBTi). E.SUN was the first to commit to phasing out coal-related industries by 2035, and we actively exerted our financial influence by leading the industry in adopting numerous international standards and initiatives. Joining RE100 is an important milestone for E.SUN towards net zero emissions. In the future, we will continue to guide the net-zero transition of energy systems through financial resources, and achieve the world's common climate goals."Deeply aware that Taiwanese enterprises are important members of global supply chains, E.SUN extends its influence in sustainability issues through its financial business when facing the pressure and challenge of achieving net zero emissions. This includes supporting the development of the renewable energy industry through project financing, such as solar power stations, offshore wind farms, onshore wind farms, and geothermal energy. E.SUN is also the largest issuer of green bonds in Taiwan. Financial institutions channel resources into environmental sustainability and carbon reduction transition projects, in hopes of accelerating the development of renewable energy in Taiwan through the participation of more enterprises. E.SUN believes that action brings change and cooperation allows capabilities to be combined with others, in order to jointly work towards a beautiful homeland with net zero emissions.  

E.SUN FHC, taking the initiative to follow the international trend and achieve the goals of COP26, announced coal phase-out by 2035 on April 11. This policy applies to all E.SUN FHC subsidiaries and overseas locations and encompasses actively managing carbon emissions from financial assets, increasing green assets, reducing gray assets in investment and financing, and promoting social energy transformation and global climate goals through the allocation of financial resources.The Glasgow Climate Pact, reached at COP26 in 2021, is the first UN climate agreement in history that explicitly states a reduction in the use of coal. Greenhouse gas emissions from coal burning have a significant impact on climate, and ridding the world of coal is seen as the key to achieving global climate goals. To respond to the global call for action, E.SUN FHC addresses companies with more than 5% of their revenue from business activities in coal and unconventional oil & gas — the former includes coal-fired power, coal mining and infrastructure, coal trading, and coal transport; the latter includes tar sands, shale oil & gas, Arctic oil & gas, ultra-deep-water oil & gas, and liquefied natural gas from unconventional fossil fuels. Excluding the funds earmarked to assist these companies in carbon reduction, E.SUN FHC will have no exposure including investing and financing to coal and unconventional oil & gas industries by the end of 2035. Bonds sold to customers that involve companies related to coal and unconventional oil & gas will all be labeled by the end of 2030 and will cease to be sold by the end of 2035.In a statement of Magi Chen, President and Chief Sustainability Officer of E.SUN FHC, the Company stopped financing coal-fired power plant projects in 2019 and is further committed to phase-out of coal and unconventional oil & gas industries. This is a significant milestone for the Company on the road to net zero. The Company hopes to leverage the influence of the financial sector to assist the global energy system with coal phase-out. E.SUN FHC obtained approved target notice from the Science Based Targets initiative (SBTi) this February, and is the first financial institution in Taiwan and the second in Asia to complete the SBTi target review. To achieve the SBTi targets, E.SUN FHC has not only gradually changed the policies and procedures of its investment and financing business, but it also provides consulting services for companies it has dealings with on shift to sustainable development and carbon reduction. E.SUN FHC encourages companies to conduct carbon inventories and set carbon reduction targets. Companies that apply for sustainability linked loans and achieve their carbon reduction targets can also enjoy preferential loan rates.  To achieve the 2050 target of net-zero bank, E.SUN FHC is diligently creating a sustainable operating environment by obtaining green building labels, building solar energy facilities, increasing the proportion of green power purchases, and introducing internal carbon pricing. Combining sustainability and finance expertise, the Company is exerting its financial influence to help the society accelerate coal phase-out. It encourages customers to reduce carbon footprint and facilitates their transformation. Moreover, practical approaches include funneling funds into low-carbon and renewable energy industries, issuing carbon-neutral credit cards, and supporting sustainable financing for companies. E.SUN FHC is taking planned, systematic, disciplined and concrete actions to mitigate global warming for a net zero home. 

The E.SUN–NTU ESG Centenary Project, a joint collaboration between E.SUN Bank and the National Taiwan University (NTU), was officially launched on March 25th. The project is composed of two subprojects, one aimed at planting cypress trees native to Taiwan and the other at reviving millet cultivation in Xinyi Township of Nantou. Joining forces and their resources, both E.SUN and NTU demonstrate a commitment to the society by taking actions to forge a sustainable symbiotic relationship between the economy and nature and thereby protect the environment and ecosystem of Taiwan.The cypress planting project is focused on growing cypress trees in the Yushan mountain range. Cypress trees native to Taiwan include Chamaecyparis formosensis (or Taiwan Red Cypress), Chamaecyparis taiwanensis, Taiwania, Calocedrus formosana (or Taiwan Incense Cedar), and Taiwan cunninghamia, etc. Through this project, 100,000 trees will be planted over a period of 10 years, covering 50 hectares of land. These trees are expected to reduce 242,000 tons of carbon dioxide emission in a hundred years or an annual carbon sequestration of 617 Da’an Forest Parks. After some growth, the trees will be thinned, leaving 25,000 trees to grow for hundreds of years. This subproject will help to pave the way for preserving natural resources on our homeland and provide the benefits of a circular carbon economy. The millet revival project aims to revive 28 varieties of millet that were once native to Xinyi Township in Nantou but are now rarely seen in the area. Thanks to the professional endeavors of NTU, a few varieties of millet were brought back home to Taiwan from a seed bank in the United States. The seeds will be used to revitalize the millet industry and culture of the Bunun community, thereby bringing back the culture and values of indigenous peoples in Taiwan.Joseph N.C.Huang, Chairman of E.SUN Bank, says that to be able to work with NTU on making a centennial commitment through a project as beautiful and meaningful as this, is such a historical moment especially in the thirtieth anniversary of E.SUN. Mr. Chung-Ming Kuan, President of NTU, commends the Experimental Forest of NTU for its dedication to promoting forestry management. The President also expresses his sincere gratitude to E.SUN Bank for working with NTU in this ESG Centenary Project, as growing thousands of trees to protect Yushan and reviving millet cultivation in Xinyi Township are conducive to the mitigation of global warming effect and preservation of biodiversity, both significant and valuable to environmental sustainability.Preserving biodiversity is the foundation for the sustainable development of humans. E.SUN Bank is long committed to environmental sustainability and ecological conservation, focusing particularly on species conservation, habitat maintenance, and environmental sustainability. E.SUN also supports organic farming and the conservation of Formosan black bears, butterflies, and sea turtles, among other species, taking action to tackle ESG or sustainability issues and planting seeds of hope to create a sustainable future.

E.SUN FHC has become the first bank in Taiwan to receive validation of its science-based targets (SBT) from the Science Based Targets initiative (SBTi), and systematically moves towards its goal of achieving net zero emissions by 2050 in a disciplined manner via a clear implementation plan, which is aligned with mid-term SBT.The SBTi was jointly formed by the United Nations Global Compact (UNGC) and Carbon Disclosure Project (CDP), and mainly encourages companies across the world to set SBT under the vision of controlling temperature rise within 1.5°C by 2050. It is universally recognized as the most credible carbon reduction organization.E.SUN implemented the SBT Project at the beginning of 2021, and jointly studied the guidelines announced by the SBTi for financial institutions together with consultants. E.SUN reviewed the carbon emissions of its investment and lending positions, and formally received the SBT approval after six months of examination, review, and communication. After setting its SBT, E.SUN gradually changed its investment and lending policies and processes, and encouraged customers to reduce their carbon emissions and invest funds into low carbon industries, exerting its influence by aiding society's transformation towards sustainability. Furthermore, E.SUN announces it will phase-out of thermal coal financing worldwide by 2035.Magi Chen, President and Chief Sustainability Officer of E.SUN FHC, said that the world is attaching greater importance to climate change than ever before. If companies do not take sustainable development seriously, no amount of financial and business performance will be meaningful in the face of a climate event. E.SUN continues to use the power of finance to help companies and their supply chains improve their ESG performance, accelerate ESG transformation, and combine the capabilities of customers and partners to do the right thing, jointly working towards a sustainable and beautiful homeland with net zero emissions.

E.SUN Financial Holding Company (E.SUN FHC), the first signatory of “Business Ambition for 1.5°C” among banks in Asia, now advances to join the Partnership for Carbon Accounting Financials (PCAF).By signing on to PCAF, E.SUN FHC has committed to measuring and disclosing its financed greenhouse gas emissions by following The Global GHG Accounting and Reporting Standard for the Financial Industry. This is an advancing step for E.SUN FHC, the first financial institution in Asia to adopt the 1.5°C climate target.Last year, E.SUN FHC set mid- and long-term climate related goals. E.SUN FHC will convert all its proprietary domestic buildings into green buildings by 2027. Furthermore, 100% renewable energy will be used at domestic business locations by 2030. E.SUN FHC aims to achieve net-zero carbon by 2050. Through planned, systematic, and disciplined actions, concrete measures will be taken and the greatest efforts will be made on the part of E.SUN FHC to reduce its contribution to global warming.“The financial sector has the capability to engage with individuals and corporates on ESG.” said E.SUN Bank Chairman, Joseph N.C. Huang, who leads the company’s environmental, social and governance policy. “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.” Over the years, E.SUN FHC has played a leading and active role on climate change and environmental issues. The company is one of the first domestic financial institutions to be a signatory to the Equator Principles. In 2017, E.SUN FHC also became the first Taiwanese signatory company of TCFD. Last year, E.SUN FHC published Taiwan's first Sustainability Report that adopts SASB and GRI standards.E.SUN FHC pledges intermediate targets approved by the Science-Based Targets initiative (SBTi) and joins PCAF, a collaboration of financial institutions worldwide aiming to enable harmonized assessments and disclosures of GHG emissions financed by loans and investments. As of today, more than 190 banks and investors from six continents have committed to PCAF.Climate change is one of the most crucial issues in the world. E.SUN FHC upholds its responsibility as a global corporate citizen by continuing to work actively and cooperating with more like-minded partners in taking concrete actions to mitigate climate change and ensure environmental sustainability as it seeks to build a safe and beautiful home for mankind with net-zero carbon emissions.

As a response to the nation’s net-zero carbon emissions goals, E.SUN FHC has voiced its commitment to use 100% renewable energy by 2030. To achieve this goal, the company will increase its green energy usage by 10% each year. By building solar power equipment and purchasing green energy, the first green energy wheeling project was completed in 2021. The annual energy production of solar power projects that have already completed energy wheeling has reached 4.25 million kWh or 10% of the annual power consumption. The company’s model zero-carbon Chiayi Branch and the soon-to-open second headquarters building will be the first to start using green energy.Chairman Joseph N. C. Huang of E.SUN Commercial Bank stated that the company started planning its green energy procurement since the beginning of 2020. In the last two years, E.SUN conducted analyses and discussions with external energy providers on its energy usage to find the most suitable energy generation methods and locations for its energy projects. After multiple meetings, and signing power purchase agreements, the projects were reviewed and approved by Taiwan Power Company, the Bureau of Energy, MEA, local governments, and the Bureau of Standards, Metrology and Inspection, MOEA. Finally, the first green energy wheeling project was completed in December 2021. Furthermore, the solar power project in Chiayi is expected to begin green energy wheeling in the first quarter of 2022. By then, the E.SUN headquarters building, along with eight other branches, will have started using green energy, which will account for 8% of E.SUN’s total power consumption. This energy in addition to the green energy that has been wheeled accounts for 18% of the company’s annual power consumption.E.SUN has implemented multiple measures to lower its carbon emissions, including replacing high power-consuming air conditioning units and lights, building solar power generation equipment, and signing power purchase agreements. Since 2017, solar power panels have been installed on the rooftops of some of the company’s branches. By 2021, 20 branches have installed solar power panels, reaching a total installed capacity of 159 kW, and generating approximately 220,000 kWh of power per year. Furthermore, E.SUN has also set up a rainwater recycling system and saved over 11,000 tons of water every year. By obtaining the ISO 14046 Water Footprint and ISO 46001 Water Efficiency Management, among other international certifications, the company has improved its management of water resources. In terms of waste reduction, E.SUN enforces waste management at both domestic and overseas offices, banning the use of disposable melamine tableware and promoting paperless transactions. These measures have helped reduce almost 13% of the company’s general waste per year, effectively protecting our planet.E.SUN has proactively created a sustainable operating environment through green buildings, solar-powered branches, and green energy procurement. E.SUN has shown its determination to use 100% green energy by 2030 and become a “Net-zero Bank” by 2050. In the coming years, E.SUN will continue to improve its overall performance, fulfill its corporate social responsibilities, and pursue sustainable development. The company will incorporate ESG into its financial business to respond to and implement the United Nation’s Sustainable Development Goals. In addition, leveraging the influence of the financial industry, E.SUN will work hand in hand with government, industry, and the public to build a sustainable and beautiful homeland.

E.SUN FHC signed the “Business Ambition for 1.5°C” pledge this year with intermediate targets approved by the Science-Based Targets initiative (SBTi). E.SUN is the first financial institution in Asia to adopt the 1.5°C climate target, an initiative aligned with international standards. The company has set mid- and long-term goals and announced before Earth Day that all of E.SUN’s proprietary domestic buildings will be converted into green buildings by 2027. Furthermore, 100% renewable energy will be used at domestic business locations by 2030. The bank will achieve net-zero carbon by 2050. Through planned, systematic, and disciplined actions, concrete measures will be taken and the greatest efforts will be made on the part of E.SUN to control the effects of global warming.Over the years, E.SUN has continued to pay close attention to climate change and environmental issues. Apart from setting clear goals and specific practices for its operations, since 2017, the company has taken the lead to inventory carbon emissions data of all domestic and overseas locations as well as adding solar energy equipment to renovated buildings or reconfigure them directly into green buildings. The "Chiayi Branch" is a model branch for environmentally friendly operations. The branch is a certified green building. It has been installed with solar panels and featured with an space dedicated for environmental promotion. Branch operations are also expected to powered entirely by green energy. As of the end of 2020, 12 of E.SUN’s buildings have obtained green building certification, and 16 buildings are equipped with solar power generation equipment. Besides, the proportion of renewable energy use will also be increased annually with the goal of achieving 10% renewable energy before the end of this year.Chairman Joseph N.C.Huang of E.SUN Bank said that although net-zero carbon emissions is an extremely difficult goal, it is also one that must be achieved in the future. To this end, government agencies, enterprises and members of the general public must join in fully exerting their powers and abilities as we accelerate the process towards net-zero carbon emissions through innovative technology and comprehensive energy policies. Apart from continuing to improve operational energy efficiency, E.SUN has also utilized its financial influence to support the construction of renewable energy infrastructure, including financing solar power plants, financing on-shore and offshore wind power projects, and issuing green bonds, maintaining leading positions in all aspects of green finance. E.SUN is now investigating and identifying industries with high carbon emissions, and, with the active formulation of 1.5°C scenarios, the bank has become the first financial institution in Taiwan to commit to SBT by signing the 1.5°C climate pledge.Climate change is one of the most crucial issues in the world; as such, 35 financial institutions including Allianz have joined the United Nations Net Zero Asset Owner Alliance with assets under management reaching US$5.5 trillion, while the Net Zero Asset Managers Initiative now including 30 financial institutions such as UBS manages US$9 trillion. The 6 largest banks of United States, including JPMorgan Chase, have moreover announced their commitment to reach net-zero carbon by 2050. In the face of our common future, E.SUN upholds its responsibility as a global corporate citizen by continuing to work actively and cooperating with more like-minded partners in taking concrete actions to mitigate climate change and ensure environmental sustainability as it seeks to build a safe and beautiful home for mankind with zero carbon emissions.