CTBC Financial Holding subsidiaries nab top awards for green finance

CTBC Bank nabbed gold in Taiwan's i-Service evaluation this year , dominating the financial industry with its warm services. Vice President Lai Ching-te (pictured left) was invited to present the award to CTBC Bank General Manager Chen Chia-wen (陳佳文) (Photo courtesy of CTBC Bank)

TAIPEI (The China Post) — CTBC Bank (中信銀行) and Taiwan Life Insurance Co. (台灣人壽), two subsidiaries of CTBC Financial Holding (中信金控), received two gold, three silver, and one bronze awards in the 2021 Taiwan Sustainability Action Awards (TSAA, 台灣永續行動獎) on Wednesday. 

The award ceremony was hosted by the Taiwan Institute for Sustainable Energy (TAISE, 台灣永續能源研究基金會) and saw esteemed guests, such as Vice President Lai Ching-te (賴清德), presenting the awards. 

CTBC Bank won the prestigious golden awards for implementing green financing and “Home Run Readers” (閱讀全壘打) projects. 

In response to the Green Finance Action Plan (綠色金融行動方案) of the Financial Supervisory Commission (FSC, 金管會), CTBC Bank had previously participated in various renewable energy, solar energy, and off-shore wind power investment and financing projects.  

In the instance of the Copenhagen Infrastructure Partners (CIP, 哥本哈根基礎建設基金) financing project, CTBC Bank acted as the financial advisor and coordinator in Taiwan and completed the largest offshore wind power project financing in the nation.  

CTBC Bank won gold for its friendly and professional services. (Photo courtesy of CTBC Bank)

In addition, CTBC Bank assisted Ørsted, the world’s largest offshore wind power developer, in issuing its first green bonds in Taiwanese dollars for a foreign company.  

Meanwhile, CTBC Bank also launched the “Home Run Readers” project which helped promote reading through a collaboration between corporation and baseball, winning them recognition and another gold in this year’s awards ceremony. 

Since 2016, the bank had joined hands with the CTBC Brothers baseball club and the National Library of Public Information to encourage reading in exchange for tickets to ball games, to increase the public’s motivation to read and to create a new model of alliance between literature and sports. 

Over the past 5 years, the project has reached 17 counties and cities across Taiwan, 114 libraries and bookmobiles, and has garnered more than 840,000 participants with a tally of over 110,000 books borrowed from public libraries, creating a new value of public welfare by combining baseball and reading across borders. 

Aside from the above, CTBC Bank also received silver awards for their work in promoting anti-drug education for the public through creating more interesting teaching materials and hosting the Three Generation Power Walk Event (祖孫三代家庭健走活動) for families to get together and raise awareness towards active health management. 

CTBC was awarded two gold, three silver, and one bronze award in the 2021 Taiwan Sustainability Action Awards. (Photo courtesy of CTBC Bank)

Due to the pandemic situation in Taiwan this year (2021), the number of applications for relief loans reached 99%, of which 97% of the applications were completed automatically through an artificial intelligence vetting process. The highly efficient online loan application was greatly appreciated by customers and won CTBC Bank another silver award. 

A bronze award was also given to the company for its innovative compliance technology that accurately captures global anti-money laundering risks, combats crime, and is in line with international regulatory standards. 

CTBC Bank has often voiced its commitment to the United Nations Sustainable Development Goals (SDGs) and actively participates in international sustainability advocacy organizations.  

Currently, it’s not only the first financial institution in Asia to introduce the methodology of the Partnership for Carbon Accounting Financials (PCAF, 碳核算金融聯盟), but also the first financial institution in Taiwan to join the Global Impact Investing Network (GIIN, 全球影響力投資聯盟).