Implementing environmental sustainability and fulfilling our sustainability commitments are the corporate missions of Fubon Life. We adhere to sustainability principles, integrating environmental sustainability into our operations and management. With the primary goal of achieving net-zero emissions by 2050, we strive to build a green financial brand, committed to realizing six major environmental sustainability promises: sustainable operations, climate adaptation, green procurement, green finance, environmental friendliness, and corporate philanthropy. Moreover, the Company actively promotes awareness of environmental sustainability among employees and the general public through internal and external activities and forums. By establishing inclusive investment policies that take into account sustainability risks, we ensure that considerations such as environmental protection, corporate integrity, and social responsibility are included in the decision-making process as we seek sustainable investment opportunities. As we leverage corporate influence, we encourage stakeholders to pay attention to, understand, and further engage in environmental issues, collectively safeguarding the environment and advancing towards a low-carbon future.
With the approval of the Chairman, the Company established the Climate Change Management Guidelines in 2021 to respond to the potential impacts of climate change. These regulations delineate the climate governance and responsibility structure. The Board of Directors serves as the highest governing body for climate-related matters, ensuring that material climate risks and opportunities are taken into account when formulating the Company's risk appetite, strategies, and operational plans.
To proactively address the potential impacts of climate change, Fubon Life conducts a comprehensive examination of the potential climate change risks in our operations and business activities. Furthermore, in 2024, we published the inaugural Fubon Life TCFD Report. The Company views climate change as a key driver of corporate sustainability aligned with its sustainability strategy and industry development trends. This led to the formulation of three strategic directions: Low-Carbon Operation, Climate Finance, and Communication and Engagement, aimed at enhancing corporate resilience and creating sustainable value.
The Sustainable Development Committee is categorized under six working groups, the groups most relevant to climate change are the Social Commitment (including Environmental Sustainability) Group, the Responsible Finance Group, and the Risk Adaptation Group. Each group advances plans and action programs according to their respective responsibilities and authorities. The Risk Management Committee responsible for overseeing the climate risk governance framework to ensure that relevant policies and management structures align with the Company's sustainability objectives and are integrated into the overall risk management frameworks. It also enhances the decision-making level's understanding of climate risks, ensuring the Board of Directors and senior management possess adequate awareness of climate-related risks and opportunities. This aims to strengthen their capabilities in climate governance and ensure the effective implementation of climate strategies.
The Company is committed to supporting investee companies in their sustainable transitions through investment. In 2021, in line with the four ESG visions of Fubon Financial Holdings, we set quantitative targets for green finance investments by 2025, covering low-carbon assets, green bonds, and green energy technologies. In 2024, we further extended this quantitative target to 2030. As of the end of December 2024, the balance of green finance investments stood at NT 1.81 trillion, representing a 7% increase compared to the 2020 baseline. By 2030, the green finance investment target is expected to increase by 19% relative to the baseline.
Green Procurement
The Company established the Green Procurement Team in 2017, responsible for formulating action plans in four main aspects: green consumption education and training, development and management of green suppliers, formulation and proposal of green product specifications, and green enterprise certification. In a consistent effort to promote green procurement, we support environmentally friendly smallholders and social enterprises to drive the culture of green consumption. Proactive efforts are made to obtain green procurement certifications and awards, leading to extraordinary outcomes. In 2024, we received the Excellent Unit in Green Purchasing certification from the Ministry of Environment under the Executive Yuan for the seventh consecutive year, with green procurement amounting to nearly NT$846 million.
Holding the Supplier Exchange Meeting
In 2024, we held the fourth ESG Environmental Sustainability and Green Procurement Exchange Meeting, with nearly 500 corporate suppliers participating in a joint effort to pursue net-zero carbon emissions and sustainable development goals. Net zero transition issues and strategies were discussed at the meeting, enhancing suppliers' understanding of how to seize business opportunities in the transition to a low-carbon economy and expand local operations with an international perspective. With the provision of specialized services in alignment with ESG trends, we strive towards a new future of net-zero emissions as we build a sustainable ecosystem of shared prosperity.
Setting active environmental sustainability targets to achieve low-carbon operations
Echoing the government's goal of Net Zero Emissions by 2050 while effectively managing climate risks, the Company comprehensively considers the potential environmental impacts of its operations. Following international standards, the consumption of energy resources closely related to its operation is regularly measured and recorded.
The Company has set environmental sustainability targets for the year 2050, including reducing carbon emissions, electricity usage, water usage, printing paper usage, and per capita waste. These targets are regularly tracked and managed, with the achievement rates incorporated into the performance measurement indicators of relevant departments. In addition to adopting energy-saving and water-saving equipment, promoting environmental education, and encouraging behavioral changes, the Company has also implemented an internal carbon pricing mechanism for equipment procurement. For energy-saving equipment items with a procurement amount of NT$300,000 or more, carbon pricing is calculated, and the carbon reduction benefits are evaluated based on the Average Carbon Price Table for similar energy-saving equipment. In 2024, the average carbon price ranged from -NT$3,800 to NT$50,200 per metric ton, to effectively manage internal carbon risks.
Management indicator | Unit | Baseline year | 2024 target | Actual reduction in 2024 | 2025 target | 2026 target |
|---|
| Operational carbon emission reduction Scope 1 + Scope 2 | metric ton CO2e | 2020 | Reduce by 3,046 | Reduce by 4,486 | Reduce by 3,808 | Reduce by 4,569 |
| Reduction in electricity consumption | kWh | 2020 | Reduce by 18.1% | Reduce by 16.7% | Reduce by 22.7% | Reduce by 27.2% |
| Reduction in water consumption | m³ | 2020 | Reduce by 6.0% | Reduce by 16.0% | Reduce by 7.5% | Reduce by 8.0% |
| Reduction in paper use for photocopying | pack | 2019 | Reduce by 16.0% | Reduce by 36.3% | Reduce by 20.0% | Reduce by 21.0% |
| Reduction in waste generate per capita | kg | 2021 | Reduce by 4.0% | Reduce by 30.79% | Reduce by 5.0% | Reduce by 5.5% |
Committed to reducing energy and resource consumption by actively adopting green buildings
As a financial service provider, our primary consumption of energy and resources, as well as the associated environmental impact, occurs within our buildings and office environments. In fulfilling our responsibilities as global citizens and upholding our environmental commitments, we have proactively pursued green building certification. To date, nine of our self-owned buildings have obtained green building labels. We have also incorporated green building standards into the planning and construction of new developments, implementing energy conservation and carbon reduction designs to minimize impact on the natural environment. In 2024, the Company participated in the GRESB Real Estate Assessment under the Development Benchmark category and was awarded the highest five-star rating, along with the distinction of Regional Sector Leader. In addition, Fubon Life's headquarters office received the LEED Gold certification for Interior Design and Construction in 2024.
