Fulfillment of Sustainability Commitment and Be a Model of Sustainability
SinoPac Holdings
Project Commitment to Sustainable Development Goals (SDGs)
The company has long been devoting great efforts to the development of
sustainable finance to exert its influence on the sustainable development of
society and the environment.
SUSTAINABILITY OBJECTIVES
SinoPac Holdings upholds the vision of “Fulfillment of a Beautiful Life Through Finance” and provides financial total solutions with sincerity, integrity, and professionalism. It has upheld the four sustainable development missions, namely Ethics and Decency, Wealth Building, Environmental Sustainability, and Social Responsibility, and set five sustainability themes, namely Fulfillment of Trustworthy Governance, Fulfillment of Innovative Service, Fulfillment of Healthy Workplace, Fulfillment of Green Operations, and Fulfillment of Inclusive Growth. Based on the five sustainability themes, SinoPac Holdings focused on three sustainability commitments including Reduce Inequality, Mitigate and Adapt to Climate Change, Promote Inclusive Growth, and setting action plans with short-term, mediumterm, and long-term goals in response to the eight SDGs of the United Nations.
BENCHMARK AND STRATEGIES
SinoPac Holdings realizes the financial industry grasps the capital needed for industrial development and is the key force to guide the whole society to attach importance to sustainable development. Hence, the company has long been devoting great efforts to the development of sustainable finance to exert its influence on the sustainable development of society and the environment. In December 2021, the Board of Directors of the company approved including sustainability as one of its business strategies, focusing on exploring green opportunities and fulfilling sustainability commitments. Concrete action plans and goals have been set for a 3-year time frame in the aspects of green finance, green investments, green financial products and services, and green initiatives. The implementation progress is reviewed quarterly, and necessary adjustments are made from time to time. Additionally, in response to international trends and the national goal to achieve net zero emissions by 2050, the Board of Directors of the company approved its net zero commitment in March 2022, pledging to achieve net zero emissions in its own operations by 2030 and the entirety of its financial portfolios by 2050, and a project management office has been set to implement its sustainability strategies for net zero emissions.STAKEHOLDERS’ ENGAGEMENT
SinoPac Holdings has kept engaging with its stakeholder by means of emails, meetings, questionnaires, sustainability reports, ESG forum/ seminars, non-deal road shows, philanthropic activities, etc., and would then take measures as necessary or appropriate. The company has implemented responsible lending and investment, prohibiting engaging in business with controversial industries such as pornography and controversial arms, strengthening ESG risk analysis for high carbon emissions industries, and actively engaging with them for the low-carbon transition. Since 1 July 2022, the company has also ceased financing for new thermal coal and unconventional Oil & Gas projects nor renewing the existing project, to lead the way toward the company’s 2050 net zero emissions commitment. The contents of sustainability reports are provided by the staff of the company’s subsidiaries and business unit who are engaging or responsible for the relevant business/ activities. The reports are then compiled and edited by the sustainable development team.DISCLOSURE AND CREDIBILITY
The 2020 Sustainability Report of SinoPac Holdings was published in compliance with Taiwan regulations, GRI Standards, Commercial Banks and Consumer Finance Standard of Sustainability Accounting Standards Board (SASB), the Task Force on Climate-Related Financial Disclosures published by the International Financial Stability Board, and the framework of the Integrated Reporting developed by the International Integrated Reporting Council for the disclosure of sustainable strategies and performance. Related topics in the Report are also in accordance with the GRI G4 Sustainability Reporting Guidelines (hereinafter referred to as GRI G4) for financial services and Financial Inclusion Indicators of Taiwan. This Report was assured by an independent third party, SGS Taiwan Ltd., in accordance with the AA1000 Assurance Standard v3 (AA1000AS v3), Type 2 High Level of Assurance. This Report is in compliance with the AA1000 assurance principles of materiality, inclusiveness, responsiveness, and impact in accordance with the core level of disclosures of the GRI Standards.
SinoPac Holdings was established in 2002, consisting of subsidiaries in financial services including banking,
securities, investment trusts, leasing, and venture capital. The company is based in Taiwan and has a service
network with locations in China, Hong Kong, Macau, Vietnam, Thailand, Myanmar, Los Angeles, and London.
