Year 2022 was an important year for Taishin FHC. It marked not only Taishin's 30th anniversary, but also the beginning of a new commitment to sustainability. Following the spirit of conscientiousness and sustainability, Taishin set "Dedicated to Sustainability & Living Green" as the vision and "Climate Action", " Financial Prosperity ", and "Empower People" as the three core strategies for sustainability. All planning, promotion, and practice in different areas follow the same vision and strategies. Taishin will watch closely sustainability trends and climate change impacts around the world, and will use our core banking services to guide industries to support sustainable development.
Climate Action: Net zero by 2050 in business operations and investment/financing portfolio
The World Economic Forum's Global Risks Report 2023 points to failure to mitigate climate change and failure to adapt to its effects as the two most severe risks to be faced in the next decade. It shows climate change has become a major challenge shared by all businesses around the world. Meanwhile, the government passed the Climate Change Response Act in early 2023, which promises to share the responsibilities of global environmental protection and promote net zero in the country by 2050.
In support of the net zero vision shared by the world and our nation, Taishin FHC has set long term goals to reach net zero in our own business operations by 2030 and in our portfolio by 2050. To achieve these goals, we took initiative to set science-based targets (SBT) and received SBTi approval in July 2022, marking us Asia's fifth and Taiwan's third SBTi-approved financial institution. As a TCFD supporter, Taishin fully implements recommendations of Task Force on Climate-related Financial Disclosure (TCFD). Our approaches of climate change and ESG risks and opportunities evaluation and business implementation have been started in Taishin’s 2022 Climate-related Financial Disclosures. In addition, Taishin strives to lead counterparties in our investing and financing businesses to embark on decarbonization transformations.
Financial Prosperity: Combining Fintech and partnership to promote financial inclusion and ecosystem of sustainable finance
Taishin FHC follows a customer centric approach and tries to make financial services more friendly and more accessible. As part of the financial inclusion effort, Taishin continues to develop innovative fintech and invests heavily in AI and big data analytics. We provide financial services in real time based on actual needs of customers and enhance the development of financial ecosystem collaborating with cross-sector partners, in order to further promote financial inclusion. By supporting small and medium enterprises and with fintech, Taishin supports disadvantaged groups and provides banking and financial services in remote regions, and helps people living in remote regions break down the barriers of time and space through product innovation so that they are able to access Taishin's services with greater ease and the reach of financial inclusion can be extended.
Taishin has been an active supporter of charities and disadvantaged groups for years. Our efforts are focused on five areas including charity and welfare, arts and culture development, sports sponsorships, academic exchange, and teen volunteer empowerment. Taishin also takes an active approach to UN Sustainable Development Goals (SDGs) and the social and environmental issues reflected in these goals. Apart from resources from the Group, we work with our employees, customers, suppliers, and key partners to take part in community involvement and social inclusion.
Empower People: Providing employee care and incentives to make sustainability an integral part of Taishin
Taishin FHC understands that the success of aforementioned climate action and financial inclusion depends on shared commitment of our employees. Therefore, Taishin FHC works hard to integrate sustainability into business and talent management philosophies of the holding company and its subsidiaries. In addition, Taishin FHC promotes healthy corporate governance and risk management systems on an ongoing basis. Given that talent is key to corporate sustainability, we pay attention to human rights and gender equality and welcome a wide range of talents. We provide well-established training and incentive programs with the aim to make sustainability a part of the daily routine for our employees and take the sustainability culture into all corners of Taishin.
As climate change is crucial to everyone, we believe anyone can go “from Zero to Hero” and take part in reverting the climate crisis. Taishin FHC upholds integrity, commitment, innovation, and collaboration at the core of business philosophy. Guided by a customer centric approach, Taishin utilizes innovative thinking and provides excellent financial services. We work hard to extend the reach of sustainable finance and climate disclosure and create sustainable value for stakeholders in order to become an intelligent partner in sustainability for customers as well as the society.
Chairman of Taishin FHC
