E.Sun Financial Holding Co (玉山金控), the first signatory of the “Business Ambition for 1.5°C” among banks in Asia, has joined the Partnership for Carbon Accounting Financials.
By signing on to the partnership, E.Sun has committed to measuring and disclosing its financed greenhouse gas (GHG) emissions by following the Global GHG Accounting and Reporting Standard for the Financial Industry.
This is another step forward for E.Sun, which was the first financial institution in Asia to adopt the 1.5°C climate target.
Photo courtesy of E.Sun Financial Holding Co
Last year, E.Sun set medium and long-term climate goals, vowing to convert its proprietary domestic buildings into green buildings by 2027 and to derive 100 percent of its energy use from renewable sources at domestic business locations by 2030. It aims to achieve net-zero carbon emissions by 2050.
Through planned, systematic and disciplined actions, concrete measures will be taken and the greatest efforts will be made on the part of E.Sun to reduce its contribution to global warming, it said.
“The financial sector has the capability to engage with individuals and corporates on ESG [environmental, social and corporate governance],” said E.Sun Bank chairman Joseph Huang (黃男州), who leads the company’s ESG policy. “This is also the main reason why the financial sector has been expected to play a key role in the trends of ESG development and be given heavy responsibilities.”
E.Sun plays a leading role on climate change and environmental issues, the company said.
It was one of the first domestic financial institutions to be a signatory to the Equator Principles.
In 2017, E.Sun became the first Taiwanese signatory company of the Task Force on Climate-Related Financial Disclosures.
Last year, E.Sun published the first sustainability report in Taiwan that adopted the Sustainability Accounting Standards and the Global Reporting Initiative standards.
E.Sun pledged to achieve intermediate targets approved by the Science-Based Targets initiative and joined the carbon partnership, a collaboration of financial institutions worldwide aiming to enable harmonized assessments and disclosures of GHG emissions.
More than 190 banks and investors from six continents have committed to the Partnership for Carbon Accounting Financials.
Climate change is one of the most crucial issues in the world, E.Sun said, adding that it upholds its responsibility as a global corporate citizen by continuing to work and cooperate with like-minded partners to take concrete actions to mitigate climate change and ensure environmental sustainability as it seeks to build a safe and beautiful home for humankind with net-zero carbon emissions.
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