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.
