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.