E.Sun Financial Holding Co (玉山金控) registered as an inaugural early adopter of the Task Force on Nature-related Financial Disclosures (TNFD) last year, alongside the world’s environmental leaders, the company said in a press release on Tuesday. The TNFD celebrated the announcement of the TNFD Early Adopters at the World Economic Forum annual meeting in Davos, Switzerland, on Tuesday.
By becoming a TNFD early adopter, E.Sun is to start making disclosures aligned with TNFD recommendations in its corporate reporting in the 2024 fiscal year, as the company sees nature-related issues as a strategic risk management issue, and believes TNFD recommendations and guidance would support it in identifying and assessing our nature-related dependencies, impacts, risks and opportunities, it said.
E.Sun released its “2021 Climate and Environmental Report” last year, which integrated the Task Force on Climate-related Financial Disclosures and TNFD Beta v.02 frameworks. The report has been recognized by the TNFD secretariat and is included as an example in the TNFD guidance for financial institutions, the company said.
Photo courtesy of E.Sun Financial Holding Co
Last year, E.Sun also released its 2022 Climate and Environmental Report, further improving disclosures toward final TNFD recommendations, it said.
E.Sun said it is committed to climate and nature-related issues, striving to achieve net zero carbon emissions by 2050 and become “nature positive.” That comes as the company supports conserving endangered species, such as sea turtles and Formosan black bears, combining the ideals with its financial business to provide green financial products and services, including green loans and sustainable bonds.
For instance, E.Sun has conducted the E.Sun Maravi Rice project for more than 10 years since starting the project in 2014, promoting organic and eco-friendly agricultural practices in rice farming. The company said it shares the Maravi rice with customers and employees, conveying its value of natural environment protection and sustainable development. E.Sun has also restored farmland habitats, improved indigenous communities’ well-being and facilitated the return of endangered endemic species in Taiwan, such as Kikuchi’s Minnow, while enhancing biodiversity, it said.
E.Sun upholds sustainability as a core value and actively promotes environmental, social and governance initiatives. The company also participates in international initiatives, becoming the first Taiwanese bank to receive validation of Science Based Targets in 2022, it said. E.Sun has also joined the RE100, the Partnership for Carbon Accounting Financials and the Partnership for Biodiversity Accounting Financials, it added.
Through innovative and professional financial products and services, E.Sun assists industries and customers in transitioning and directs capital flows toward environmental sustainability, with the aim of working together to create a beautiful home in harmony with nature, it said.
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