Shin Kong Sustainable Lifestyle – From Farm to Table
Shin Kong Life Insurance Co., Ltd.
Project Commitment to Sustainable Development Goals (SDGs)
INTRODUCTION
Shin Kong Life set up an environmentally-friendly Farmers Market in 2017. The company hopes that with the power of collaboration, it will shorten the kilometers that the food will have to travel, thus reducing carbon footprint, stabilizing farmers’ incomes, and promoting the sustainable development of Taiwanese agriculture.In 2022, the company promoted the education of sustainable agriculture to employees via work experience programs and organized a meal surplus project with various public well-being groups. At the same time, Shin Kong Life developed a new product, the “Shin Kong Shih-Zai-Ann-Shin Permanent Health Ins. Rider”, and promised to donate NTD100 to public welfare organizations for every sustainable policy that was developed.
Shin Kong Life also leans on its core as an expert in risk management in the insurance industry. By taking a sustainable diet as the base idea, the company advocates shifting from reactive actions to prevention planning. On this basis, it is hoped that Taiwan’s society and environment will benefit and become a green incentive for Taiwan’s sustainable development in the future
FRAMEWORK AND STRATEGY
With a sustainable diet as a foundation, strategic objectives such as social and environmental sustainability are progressively achieved through innovative actions such as an environmentally friendly agricultural market, public welfare procurement, education and work experience programs for sustainable agriculture, food safety policies, and the Meal Surplus Program.In order to implement the concept of sustainable diet and agriculture and to promote the Sustainable Development Goals (SDGs), the structure of the program is as follows. SDG 1 led to the set up of the environmentally-friendly Farmers Market, public welfare procurement, the building of a group buying social networking site, and donations. SDG 2 led to the promotion of sustainable agriculture and the meal surplus project. SDG 3 led to the development of new products such as “Shin Kong Shih-Zai-Ann-Shin Permanent Health Ins. Rider” and the company also promised to donate NTD100 to public welfare organizations, such as the Alliance of Taiwan Foodbanks, for every policy. SDG 4 led to the promotion of education and work experience programs for sustainable agriculture.
ACHIEVEMENT AND IMPACT
The Social Return on Investment (SROI) of this program created NTD9.85 for every NTD1 spent. It has earned nearly NTD5 million through both the public welfare procurement and Shin Kong’s Farmers Market. The media outreach of this program included 2 press conferences, 2 lectures, and 20 media posts, creating a media value of 500 yuan and reaching nearly 3 million page views.The company has managed to cooperate with Shin Kong Life farmers to purchase 3,000 kilograms of fruits and vegetables and donate them to welfare organizations. In relation to this, there were food-related insurance policies developed and NTD30,000 was donated to the Alliance of Taiwan Foodbanks. Shin Kong Life also handled three agriculture education initiatives wherein a total of 113 corporate volunteers and their families participated.
FUTURE DIRECTION
Since 2017, Shin Kong Life has expanded the Farmers Market year by year into the “Shin Kong Sustainable Lifestyle – From Farm to Blissful Dining Table Project”, hoping to find more farmers who support sustainable agriculture, so as to influence more and more people.In the short term, Shin Kong Life intends to increase the number of people on the Shin Kong Farmer’s social networking site and strengthen the link between corporate volunteers and the project. There will also be more effort put into finding and recruiting more farmers who support sustainable agriculture.
In the long term, Shin Kong Life will push the company to respond to the Taiwan government’s Net Zero carbon emission policy. The company will also be introducing a contractual farming system and using its brand influence to influence more companies to follow in the pursuit of social empowerment and sustainability.
With the goal of becoming a benchmark for sustainable operations
and a reliable financial partner, Shin Kong Life Insurance Co., Ltd.
(Shin Kong Life) continue to pursue business strategies that take
into account carbon reduction, innovation, and mutual benefits.
