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In 2022, the Financial Supervisory Commission of the Republic of China (Taiwan) (FSC) established the Coalition of Movers and Shakers on Sustainable Finance, which consists of six financial holding companies in Taiwan working together to promote the net-zero emission policy, and has made remarkable contributions over the past two years. Yuanta Financial Holding Company (FHC) took over the third rotating chairpersonship of the coalition and held a launch press conference today (2/21). FSC chairman, Jin-Lung Peng, and members of the coalition attended the press conference. Chairman Peng said that the Taiwan government has been actively advancing the 2050 net-zero transformation, and thanked the members of the coalition for their influence, which has led various sectors to participate in the net-zero action and catalyzed the concept of sustainable finance to take root in Taiwan. The working groups also bring more innovation opportunities to Taiwan’s financial market, playing an important role in future sustainability.
At today’s press conference, members of the coalition including Yuanta FHC, CTBC Holding, E.Sun FHC, First Financial Holding, Cathay Financial Holdings, and Mega Holdings, jointly pledged to proactively deepen the five major topics of “green procurement,” “information disclosure,” “international outreach,” “assistance and promotion,” and “funding and engagement.” The six working groups of the Net-Zero Promotion Working Platform will work together with the policies of the competent authorities, focusing on the following directions: strengthening policy convergence with the international community, optimizing the process of reporting carbon emission information, building a database of average carbon emission data of the industry, setting up a mechanism for cultivating sustainable human resources, and facilitating international exchanges. The various working groups will team up with financial associations and related organizations to promote the development of sustainable finance in Taiwan.
Chien Weng, Chief Executive Officer of Yuanta FHC, expressed that the financial industry is not only a provider of corporate capital, but also a driving engine for the sustainable transformation of enterprises. Yuanta FHC will continue the spirit of the coalition and keep pace with the policy. Together with the members of the coalition, Yuanta FHC will lead various industries to realize low-carbon transformation through the influence of fund-raising, investment, and financing. As a member of the coalition, Yuanta FHC serves as the convener of the Empowerment and Certification Working Group and has joined hands with the Securities and Futures Institute to create the first national sustainable finance certificate in Taiwan in 2024. Yuanta FHC has also taken the lead in providing subsidies of NT$1,300 per person to all employees of the Yuanta Group to apply for certificates, totaling more than NT$15 million, laying a solid foundation for the development of sustainable talent in Taiwan.
The Coalition of Movers and Shakers on Sustainable Finance is now in its third year. The six FHC members have not only continued to promote ESG (environmental, social, and governance) strategies and measures, which have been recognized by the industry and the international community, but have also established a good understanding and cooperation model to steadily collaborate to deepen the sustainable development of various industries towards the goal of net-zero emissions by 2050.