國泰金控於7月底發布其2019年份的企業社會責任(CSR)報告，當中分享對於聯合國永續發展目標(SDGs)的貢獻，尤其是針對SDGs 13 氣候行動，作出以下宣示：「國泰世華銀行停止新承作任何燃煤發電融資，國泰人壽將未積極轉型再生能源之燃煤發電業者列入不可投資名單。」這樣的宣布讓國泰加入國際氣候撤資行列，不再資助燃煤發電，加速國際能源轉型浪潮。
Open Letter to Cathay Financial
Cathay Financial shared its 2019 CSR report in late July as it includes the institution’s efforts towards the SDGs. Especially for SDGs 13 Climate Action. The organization has the following statement: “Cathay Financial will stop any new investment in coal-firing plants. Cathay Life Insurance will exclude coal power developer that does not actively transition to renewable on the investment list.” This announcement brings Cathay Financial to the global divestment framework that no longer funds coal and supports a transition to renewables.
As a signatory of the Equator Principles, Cathay also focuses on the ESG principles as they: “stop investing any new coal power plants since October 2019.” This act truly practices the ESG concepts and show their customers that they are serious about climate topics and corporate social responsibilities.
The pandemic has impacted the world over the past half a year, and it showcases the fragile nature of our current economic model. What was once seen as a norm like fossil fuels are heavily impacted. The influence includes negative oil prices, coal production delays, and more. They all display the risk of the fossil fuel industry. During this crisis also rest the opportunity for transition. All financial institutions should treat the risk of fossil fuel industries seriously and shift towards the more resilient and flexible renewable energy sector.
350 Taiwan is very glad to see that once again another Taiwanese financial institution joins global climate action trends to use financial flow to face climate challenges. As of now, there are more than 14 trillion USD not funding fossil fuels, and the participant organizations reach over 1200. However, aside from not investing in new coal power projects, we would also like to see Cathay commit to leaving current projects when their terms are due. This will fully execute the ESG and social responsibility to avoid global coal power projects.
We hereby also encourage other financial institutions in Taiwan to step up, both private banks or public funds, to no longer fund any coal power projects. Let the world recognized Taiwan’s commitment to face climate change. Let us use financial ways to move money and build the future so that there is no money for dirty energy!