董事長蔡明興表示富邦以「Run for Green 奔向綠色」為主軸，讓ESG成為公司推動永續轉型的幫手，讓「投資、貸放的每一塊錢，都是對環境、社會有益的」。
Open Letter to Fubon Financial
Fubon Financial announced on June 7th its 20 items 2025 ESG goals. Going forward, there will be four pillars under the ESG framework, including Low Carbon, Digitalization, Incentivization, and Impact. Regarding Low Carbon, there will be guidelines set up for investment and divestment for intensive carbon-emitting industries such as the electric power industry, the coal industry, the cement industry, the petroleum industry, and the steel industry.
The company stated that starting this year there will be no more new financing of coal-firing plants. Fubon also integrates a principle of proportionality that avoids power plants that generate 50% of their power from coal, unless stating the site has a clear renewable energy transition plan. As for the coal industry, there will be no financing for companies that only develop coal mining. On the topic of petroleum, there will be no new financing for oil exploration, drilling, oil refining, and other oil services. The financing for high emitting procedures and productions for the cement and steel industry will also be banned.
The chairman of the board, Richard Tsai, states that “Run for Green” is the main theme to make ESG the helping hand to push for a sustainable transition. It is to make “every dollar from lending and investing to be beneficial for the environment and the society.”
In the past few months, there has been a weakening of the fossil fuel industry. Shell lost its lawsuit and is now required by the Dutch court to reduce its carbon emission by 45% by 2030. The International Energy Agency(IEA) pointed out in its newest report that the world has to stop all new fossil fuel projects and their investments. G7 also mentioned that fossil fuel finance should be phased out globally, especially the usage of coal should. All these international events and trends fit the goal of the Paris Agreement to keep the rising temperature to be under 1.5C by the end of this century to avoid various disasters.
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. It is great to see the proactiveness of Fubon as it also expanded its divestment reach to the oil industry beyond the coal industry. However, aside from not investing in new projects, we would also like to see Fubon commits to leaving current projects when their terms are due. They can also avoid certain projects and developers altogether. In addition, creating a planned path towards a no coal future is needed to fully avoid the global coal industry.
We hereby also encourage other financial institutions in Taiwan to step up, both private banks, public banks, or national funds, to no longer fund any fossil fuel projects. Let the world recognize Taiwan’s commitment to face climate change. Let us use financial tools to move money and build the future!