E.SUN’s Green Finance Project
玉山金控綠色金融發展計劃
E.SUN Financial Holding Co., Ltd.
INTRODUCTION
In the process of socioeconomic development, the financial industry must play its part as a financial intermediary that fulfills the social responsibilities in the financial supply chain. The assets and resources of a bank stem from the trust and support of the general public and, therefore, the major corporate social responsibilities of a financial institution are to properly utilise societal resources, leverage its influence, promote domestic economic and financial stability, and simultaneously raise the awareness of our clients on environmental protection and public welfare to ultimately achieve the sustainability of the environment and society. The Company supports various Sustainable Development Goals (SDGs), while complying with international regulations, and appropriately applies resources to domains which are beneficial to the development of the environment and society. Pertaining to different customer group attributes, the Company develops various sustainable financial products that meet customer requirements and global trends.
FRAMEWORK AND STRATEGY
To promote development of sustainable finance and to control potential Environmental, Social, and Governance (ESG) risks, for corporate customers, the Company introduced the Equator Principles into loan review process. In the Know Your Customer (KYC) process, every lending case must be scrutinised to check if it relates to pollution, violation of human rights, and negative issues, as well as high-risk industries which may harm sustainable development of environment and society, such as tobacco, leather/dye and printing, military firearm, and gambling. Once a case is classified as a high-risk profile and its loan application surpasses certain amount, due to potential larger impact on environment and society, the Company will disclose relevant risk information on due diligence report and put the customer into cautious list so as to manage lending risk.ACHIEVEMENT AND IMPACT
The Company is the first bank in Taiwan that announced the policy of Prohibition on Coal Power Lending. By 2019, the outstanding on coal power plants has been reduced to 0. In 2019, the Company has led 2 offshore wind farm syndication loans, the amount generation of wind power that the Company has involved in is 2,467 MW, and the Company would continue focusing on green energy project financing. Furthermore, the Company‘s investment policy attaches importance to the CSR performance of investee targets. 95% of bond investments conformed with Bloomberg’s ESG standards. Lastly, the Company is the first financial institutions in Taiwan to issue the largest amount of green bonds, NT$5.9 billion worth of green bonds, which accounts for 15.8% of total bond issuance.FUTURE DIRECTION
The Company believes that there are three mountains to conquer when it comes to corporate business management: overall performance, social responsibilities, and sustainable development. Instead of taking a step-by-step approach as other enterprises did, the Company sets long-term goals in the beginning. With sustainable development as their ultimate goal, the Company shoulders social responsibilities and delivers overall performance at the same time for the purpose of building a healthy, smart, and resilient organisation. The Company sets target of sustainable financing and investment, by the end of 2020 and 2025, will increase their volume of ESG financing and sustainable investments under management to over 280 billion and 340 billion in total. The Company is committed to be the leader of green finance and to achieve sustainable environmental development.
E.SUN was founded in 1992 and the Company has set the standard for
Taiwanese financial and banking services with its professionalism, prudent
management, and excellent customer service. Named after Mt. Yushan,
the highest mountain in Taiwan, the Company’s vision is to become the
bank of overall excellence and the most respected company in Taiwan.
The Company operated 139 branches in Taiwan and 28 overseas locations
in 9 countries and regions.
