TAIPEI (The China Post) — In recognition of its efforts in Environment, Social and Governance (ESG), CTBC Financial Holding Co. Ltd. recently nabbed the top three spots in the 16th Annual Vision Magazine 2020 Corporate Social Responsibility (CSR) Award.
The prizes include a ‘role-model’ award for the annual big survey in the finance insurance group and two first prizes for promoting public welfare and education.
With more than 188 cases entered in the competition, CTBC managed to pass the two-stage vetting process and won the hearts of the judges through their demonstration in recent years of increasing investments into green businesses, expanding inclusive finance and creating a data-based economy and scenario-based services.
Aside from establishing a new corporate sustainability office in March and its subsidiary following the U.N. regulations regarding “Principles for Responsible Banking” (PRB) since last year, CTBC has also incorporated Principles for Responsible Investment (PRI) and Principles for Sustainable Insurance (PSI) this year, with the results to be announced near the year’s end.
In addition, CTBC’s top prize in promoting public welfare was the result of a 10-year project that was launched after a meeting with the 2006 Nobel Peace Prize winner Muhammad Yunus. CTBC created a micro-loan plan, especially for disadvantaged families in Taiwan.
CTBC’s “Love & Arts” project also came out a winner in the ‘education promotion’ category this year for its efforts the past two years in incorporating art teachers into rural schools to expand the students’ horizons and gain more confidence.
The Vision Magazine’s CSR awards have been hosted since 2005 to recognize top corporates’ efforts in working towards a more sustainable and environmentally-friendly business.