CTBC Financial Holding Co (中信金控) came away from the Chinese-language Global Views Monthly magazine’s Corporate Social Responsibility Awards (CSR) on Tuesday with the largest haul in the financial services industry.
At a ceremony in Taipei, the company received the Exemplary Model Award in the Finance and Insurance category, in recognition of its sustainable governance, as well as the first-place awards for Charity Promotion and Education Promotion.
The jury said that the awards attested to CTBC Financial’s concrete actions in prioritizing green investments, integrating financial services conveniently into everyday life, and adopting emerging standards and assessments.
Photo courtesy of CTBC Financial Holding Co
As part of these efforts, the company this month formally adopted the Task Force on Climate-related Financial Disclosures’ recommendations — the top global guidelines for providing transparent environmental disclosures to investors, lenders, insurers and stakeholders — and last month established a corporate sustainability office managed by the company’s president.
This came after its subsidiary CTBC Bank Co (中國信託銀行) at the end of last year voluntarily began complying with the UN Principles for Responsible Banking.
Another of its subsidiaries, Taiwan Life Insurance Co (台灣人壽保險), has also adopted the UN Principles for Responsible Investment and Principles for Sustainable Insurance, reports for which it expects to release by the end of this year.
Accepting the welfare award, which CTBC Financial also received last year, chief administration officer Roger Kao (高人傑) gave special praise to the CTBC Poverty Alleviation Program.
The first microloan service of its kind in Taiwan’s financial industry, the program has now been providing life-changing entrepreneurial assistance to parents of disadvantaged families for nearly a decade, Kao said on Tuesday.
The program has so far helped more than 2,000 parents through more than NT$148 million (US$4.94 million) in loans, CTBC said.
As about 30 percent of the program’s entrepreneurs are dealing with the effects of the COVID-19 pandemic, particularly those in the food and beverage industry, Kao pledged that CTBC would stand by the program’s recipients and help them through this difficult time.
Receiving the education award, also for the second consecutive year, CTBC Foundation for Arts and Culture chairman John Feng (馮寄台) lauded the grassroots work of the Love & Arts for Dreams Initiatives program.
It partners with art instructors to bring in-depth art education to remote areas, empowering students to expand their horizons and develop the self-confidence to pursue their dreams, Feng said.
Established in 2005, Global Views Monthly’s Corporate Social Responsibility Awards are local Chinese-language media’s longest-running event celebrating excellence in environmental, social and corporate governance.
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