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Yuanta Bank recognizes the opportunities and risks associated with climate change and has incorporated climate change into corporate governance and business strategy, with the board of directors overseeing operational management strategies to cope with the impact of climate change. Yuanta Bank’s TCFD report, which reveals management performance and implementation of climate-related governance, risk management, strategies, and targets, has been honored by the Center for Business Sustainability at the National Chengchi University in the “First Annual Climate-related Financial Disclosure (TCFD) Report Evaluation,” and ranked among the top 20% of the 38 domestic banks in Taiwan.
In terms of strengthening climate change risk management, Yuanta Bank’s board of directors has approved the climate change risk appetite and climate risk value, and will reduce or avoid engaging in activities for highly climate-sensitive enterprises or industries where the risk cannot be easily controlled or mitigated. Yuanta Bank also adheres to Yuanta Financial Holding Company’s (FHC) Sustainable Finance Guidelines as the highest framework and guideline for the development of financial products and services, and takes practical actions to guide investment and financing business to support the development of low-carbon economy industries and the net-zero transformation of industries, to minimize the risks of highly climate-sensitive industries, and to achieve the goal of sustainable finance.
In addition, Yuanta Bank reduces carbon emissions in a systematic and scientific manner by setting targets with reference to the Science Based Targets (SBT) methodology, and vigorously reduces our own carbon emissions through the introduction of the internal carbon pricing (ICP) mechanism, low-carbon operations, and low-carbon restructuring strategies. At the same time, Yuanta Bank has set short-, medium-, and long-term goals for net-zero carbon emissions by 2050 and continues to track them. Through regular inventories of information on energy use and greenhouse gas emissions related to our own operations, Yuanta Bank is able to implement a bank-wide low-carbon operations management program.
In order to enhance the operational resilience of financial sustainability, Yuanta Bank’s Mobile Banking APP has passed the British Standards Institution’s (BSI) international dual certification of ISO14067 Product Carbon Footprint Inventory and PAS2060 Carbon Neutrality, making it the first zero-carbon APP in Taiwan’s banking industry. Yuanta Bank also innovatively launched the Diamond-Gold Carbon Lucky Account, which allows customers to view the carbon reduction results of electronic transactions through an APP. By utilizing the power of financial influence, Yuanta Bank is able to lead customers to take part in carbon reduction in their daily lives, and actively invites the community to transform towards a net-zero lifestyle, thereby continuing to expand the depth and breadth of sustainable finance.
Yuanta FHC is a member of the Coalition of Movers and Shakers of Sustainable Finance, and its subsidiary Yuanta Bank, has taken on the Group’s sustainable development strategy roadmap. We will continue to disclose the climate-related risks we face, grasp the impact on financial statements, provide more diversified financial products and green financial services, improve customer care, build up the influence of capital providers and managers, and strengthen our strategies and awareness of climate change, so as to enhance our climate resilience and give full play to the positive influence of the financial industry, assist in the net-zero transformation of related industries, and to engage with our stakeholders for the purpose of achieving a sustainable common good.