致玉山銀行撤資公開信

 

2019年7月3日

玉山銀行於7月1日宣布,基於氣候變遷和空污之考量,未來將不再承作新的燃煤電廠融資案,亦將不再於屆期後續約既有案件。此一授信政策將適用於銀行國內營業單位及9個國家地區,共28個海外據點,與世界各地共同追求環境與社會的永續發展。對此,350台灣深表支持與肯定。

玉山作為台灣首家撤資的金融機構,不僅成為台灣首個做出撤資聲明的銀行,更是全台第一個撤資的組織。此一政策正呼應了國際社會對於氣候行動的需求,使玉山銀行躍升為台灣與亞洲金融界氣候行動的領導者。事實上,自2012年起全球對化石燃料的撤資總額已累積達8.77兆美元(折合台幣約272兆台幣),超過1000家企業與機構響應,組織類型更橫跨宗教團體、基金會、學校到政府機構等。

儘管其中有超過100家金融機構撤資,但直到近兩年亞洲金融機構龍頭才決定改變政策,選擇撤資,包括以下金融機構:

 

日本

    • 三菱銀行
    • 三井住友銀行
    • 瑞穗銀行

新加坡

    • 華僑銀行
    • 星展銀行
    • 大華銀行

 

值得一提的是,此舉不僅是對於環境面的道德考量,更是長遠而永續的財務規劃。至今不僅無數的研究指出化石燃料面對未來日益上漲且高度不穩定的國際能源價格波動,將可能大幅減損資產價值,成為尾大不掉的擱置資產(stranded asset)。而近期各國政府於G20、世界經濟論壇等國際會議中,更商討如何透過法令與碳定價等機制,遏止不當補貼與化石燃料產業結構,以加速能源轉型——此舉無疑更加重投資燃煤電廠的風險。

350台灣與350.org長期著力於綠色金融與能源轉型倡議行動,深知要擁有長遠的視野,且願意基於道德、對社會的責任以及長遠的財務考量而決心撤資,對於任何機構均屬不易。然而面對氣候變遷急迫的威脅,勇於作出選擇,才是真正落實赤道原則(Equator Principles)、責任投資原則(PRI)與實踐環境、社會、公司治理投資概念(ESG)的積極作為。我們在此也呼籲有志於綠色金融的金融機構、政府基金效法,與玉山銀行同行,一起加入撤資的行列,用綠色金融許國際與台灣社會與我們的下一代一個美好、永續的未來。

 

350 台灣團隊


Open Letter to E. Sun Bank Divestment

 

July 3th, 2019

Due to climate change and air pollution, E. Sun Commercial Bank announced on July 1st that it will stop financing any new coal power plant projects as well as ending its current financial ties with existing contracts once they are due. This new policy will impact all of its branches in Taiwan along with its 9 foreign countries services in a total of 28 locations. E. Sun joined the global movement to create a sustainable world through social and environmental means. For this, 350 Taiwan expresses our support and acknowledgment.

E-Sun is the first financial institution to announce divestment in Taiwan. This made them the first bank to divest in Taiwan and also the first organization to divest in the country. This policy echoes the global demand for climate action; making E. Sun an aspirational figure in climate action in the Asian financial sector. In fact, since 2012, the global divestment amount has surpassed 8.77 trillion US dollars. Over 1000 institutions participated, including religious groups, foundations, educational institutions, government and more.

Though there are more than 100 financial institutions divested, it was only the two recent years that leading Asian financial institutions starting to change their policies, beginning to divest. These financial institutions are:

Japan

    • Mitsubishi UFJ Financial Group 
    • Sumitomo Mitsui Banking Corporation 
    • Mizuho Financial Group 

Singapore

    • OCBC Bank 
    • DBS Bank 
    • United Overseas Bank 

Worth mentioning, this act is more than an action for the environment but also a long term financial planning. Numerous researches pointed out that fossil fuel is facing a future of rising and unstable cost. This soon will reduce its financial value and even become stranded assets. In addition, global discussions at the G20 and the World Economy Forum are aiming to regulate fossil fuels through carbon pricing measures, such as stopping fossil fuel subsidies to foster the energy transition. All these are generating threats for investing more in coal firing power plants.

350 Taiwan and 350.org have long been advocating green finance and energy transition. We understand the difficulty to divest, and it requires long-term vision, a strong commitment to human ethics, and careful planning for finances. However, in the face of the climate crisis, making the decision to divest is the true execution of the Equator Principles, Principles for Responsible Investment (PRI), and Environmental, Social and Governance (ESG). We hereby call upon all the financial institutions and government funds to join the divestment actions just like E. Sun, practicing green finance to bring Taiwan, the world and the next generation a better and more sustainable future.

350 Taiwan