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.