E.Sun Financial Holding Co (玉山金控) has signed the “Business Ambition for 1.5°C” pledge for this year, and has set intermediate targets approved by the Science Based Targets initiative, it said on Friday last week.
E.Sun said in a statement that it is the first financial institution in Asia to adopt the 1.5°C climate target, an initiative in line with international standards.
The company has set mid and long-term goals, it said, adding that it is announcing before Earth Day that all of its local buildings are to be converted into green buildings by 2027.
Photo courtesy of E.Sun Financial Holding Co
Its domestic locations are set to use 100 percent renewable energy resources by 2030 and the bank expects to achieve net-zero emissions by 2050, it added.
Through planned, systematic and disciplined actions, the company would take concrete measures to control the effects of global warming — no effort would be spared, the statement said.
E.Sun said that over the years, it has paid close attention to climate change and environmental issues.
In addition to setting clear goals and specific actions for its operations to follow, the company has since 2017 led in taking an inventory of the carbon emissions of all of its domestic and overseas locations, as well as adding solar power equipment to renovated buildings or reconfiguring structures into green buildings, it said.
E.Sun said that its Chiayi branch is a model of environmentally sound operations — it is a certified green building, with solar panels and a space dedicated to promoting the environment.
Its other branches are also expected to be powered by renewable energy sources, the company said.
By the end of last year, 12 of its buildings had obtained green building certification and 16 were equipped with solar power equipment, it said.
The proportion of renewable energy used is to increase each year, with the target of reaching 10 percent by the end of this year, it added.
E.Sun Commercial Bank (玉山銀行) chairman Joseph N.C. Huang (黃男州) said that although net-zero emissions is an extremely difficult goal, it is also one that must be achieved.
To this end, government agencies, enterprises and the general public must join in exerting all of their power and ability to accelerate the process of reaching net-zero carbon emissions through innovative technology and comprehensive energy policies, Huang said.
To maintain its lead in all aspects of green finance, E.Sun said that it has used its influence to support the construction of renewable energy infrastructure, including the financing of solar power plants, the financing of onshore and offshore wind power projects, and the issuing of green bonds.
The bank said that it has identified industries with high carbon emissions and as part of its formulation of 1.5°C scenarios, it has become the first financial institution in Taiwan to commit to the Science Based Targets initiative and sign the 1.5°C climate pledge.
As climate change is one of the most crucial issues in the world, 35 financial institutions with US$5.5 trillion in assets under management, including Allianz AG, have joined the UN Net Zero Asset Owner Alliance, while 30 financial institutions with US$9 trillion in assets under management, including UBS Group AG, have joined the UN Net Zero Asset Managers Initiative.
The six largest banks in the US, including JPMorgan Chase & Co, have announced their commitment to reach net-zero emissions by 2050.
Seeking to build a safe and beautiful home for humankind with net-zero emissions, E.Sun said that it upholds its responsibility as a global corporate citizen to continue to work and cooperate with like-minded partners in taking concrete actions to mitigate climate change and ensure environmental sustainability.
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