E.Sun Commercial Bank (玉山銀行) on Friday launched its “E.Sun ESG and sustainability initiative” in a ceremony in Taipei, with Vice President William Lai (賴清德) and Vice Premier Shen Jong-chin (沈榮津) attending the event to express their good wishes.
E.Sun Bank founder Huang Yung-jen (黃永仁), chairman Joseph Huang (黃男州) and the leaders of 32 Taiwanese companies, including delegates from China Steel Corp (中鋼) and AU Optronics Corp (友達光電), signed the initiative’s Sustainable Development Advocacy.
E.Sun and the companies pledged to incorporate environmental, social and governance (ESG) factors into their business, and implement the UN Sustainable Development Goals. They also committed to taking action against the most urgent climate change issues.
Photo courtesy of E.Sun Commercial Bank
The initiative has gathered companies that demonstrated leadership in sustainable development. All participants committed to taking positive environmental action to reduce greenhouse gas emissions and reduce the impact on the environment.
Through the initiative, it is expected that Taiwan’s industry would pay more attention to ESG factors and sustainability.
Lai was the first to express his appreciation to E.Sun for its contribution to culture, art, sports, education and care for the disadvantaged.
Lai said that the initiative represents three main points.
First, it is an action taken by E.Sun and companies autonomously to combat climate change; second, it is the perfect time to respond to the international trend and to meet the goal of carbon emission reduction; and third, the action can drive the government to adopt better climate change policies.
“With joint effort of the companies, ESG will become the pride of Taiwan,” Lai said.
Shen said he hopes that the initiative can be a milestone for companies to view ESG as part of their DNA, making positive changes to society and the environment, and “building our country into a more sustainable and resilient place.”
“It is very encouraging to improve ESG practices with companies that embrace the same value,” Joseph Huang said. “We can work together to make the environment and the world better.”
E.Sun has been listed in the Dow Jones Sustainability Index for seven years in a row, setting a record for firms in Taiwan’s financial sector.
The bank is also leading its peers in introducing the Equator Principles, “green” bonds and ESG-linked loans.
E.Sun is a long-term supporter of renewable energy establishment. In 2019, the bank took the lead to terminate financing to coal-fired power plants, a pioneering action that could reduce negative effects of high ESG-risk business activities.
E.Sun will continue to improve its management and practices of ESG. By pledging to the “E.Sun ESG and Sustainability Initiative,” the bank wishes to promote the idea together with Taiwanese companies that share the same vision.
E.Sun hopes to make positive contributions and raise awareness in the Taiwanese industry by addressing ESG issues and pursuing sustainable development.
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