Bank SinoPac Co., Ltd.
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:11,710.16 tCO2e/year
Scope 1 Emissions:918.20 tCO2e/year
Scope 2 Emissions:10,791.96 tCO2e/year
Renewable Energy Share:11.48%
Carbon Intensity:Scope 1: 0.02 tCO2e/per million of revenue; Scope 2: 0.27 tCO2e/per million of revenue
ESG Focus Areas
- Climate Change
- Biodiversity
- Sustainable Finance
Environmental Achievements
- Reduced Scope 1 and Scope 2 greenhouse gas emissions by 16.5% compared to 2021 baseline.
- Secured 5.2 million kWh of renewable energy contracts and purchased 4,000 tons of carbon credits.
Social Achievements
- Launched palm vein authentication technology with paperless eNote applications, boosting branch customer service efficiency by 85% and teller productivity by 50%.
- Issued NT$2 billion in senior unsecured bank debentures (sustainable bonds).
Governance Achievements
- Established the Sustainable Development Taskforce.
- Implemented ISO 14001 and ISO 50001 in multiple self-owned buildings.
- Implemented internal carbon pricing (ICP).
Climate Goals & Targets
Long-term Goals:
- Achieve net zero emissions in own operations by 2030 and across all financial portfolios by 2050.
Medium-term Goals:
- Achieve combined carbon reductions of 25.2% by 2026.
- Reach NT$154 billion in renewable energy financing loan balance by 2026.
Short-term Goals:
- Reduce annual Scope 1+Scope 2 emissions by 4.2% to achieve combined carbon reductions of 16.8% by 2024.
Environmental Challenges
- Transition risks: Policy and Legal Risks, Technology Risks, Market Risks, Reputation Risks
- Physical risks: Increased frequency and severity of typhoons, heavy rainfall, droughts, water shortages, rising sea levels.
- Liability risks: Failure to establish climate governance, reduce emissions, disclose risks, and adjust strategies.
Mitigation Strategies
- Developed mitigation and adaptation measures for short, medium, and long-term climate risks.
- Implemented responsible investment and lending guidelines.
- Incorporated ESG factors into business decisions and risk management.
Supply Chain Management
Responsible Procurement
- Prioritize purchases of government-certified eco-friendly products.
- Adhere to SinoPac Holdings’ Supplier Sustainable Development Guidelines.
Climate-Related Risks & Opportunities
Physical Risks
- Heavy rainfall and flooding
- Droughts
- Rising sea levels
Transition Risks
- Carbon cost payments
- Energy transition
- Net zero own operations
Opportunities
- Resource Efficiency
- Products and Services
- Energy Source
- Markets
- Resilience
Reporting Standards
Frameworks Used: TCFD
Certifications: ISO 14064-1, ISO 14001, ISO 50001
Third-party Assurance: British Standards Institution (BSI)
Sustainable Products & Innovation
- Renewable Energy Electricity Trading Trust Platform
- Green bonds
- Sustainable loans
Awards & Recognition
- FinanceAsia Awards 2023 “Finalist: Best Sustainable Bank in Taiwan”
- TCSA Executive Committee - 2023 Taiwan Sustainable Action Awards (TSAA)
- Joint Credit Information Center “Special Contribution Award for Sustainable Financing”
- Charlton Media Group, ESG Business Awards 2023
- National Enterprise Competitiveness Development Association, The 20th National Brand Yushan Awards