Yuanta Financial : FHC Ranks Top 3% in Green Procurement & Receives Recognition for 9 Years Straight
October 13, 2020 at 04:54 am EDT
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Global businesses are increasingly concerned about the risks of climate change.
With the concept of 'opening up sources and cutting costs,' Yuanta Financial Holding Company (FHC) makes its contribution to the love of the earth, extending the influence of sustainability values to the supply chain, expanding the scope of sustainable development, and building a sustainable procurement process. Green procurement amounted to $125.56 million last year (2019). Yuanta FHC has been commended by the Environmental Protection Administration of Taiwan's Executive Yuan as an outstanding unit in green procurement for the ninth consecutive year, ranking among the top 3% of 2,326 companies that have applied for it. In addition, in the past five years, Yuanta FHC has actively supported low-carbon energy by subscribing 2.51 million kilowatt-hours (kWh) of green power, making it a pioneer of green energy in the financial sector.
As a company supporting low-carbon, sustainable commodities, Yuanta FHC's green purchases are growing year on year, up 80% from 2018. In order to implement green procurement, Yuanta gives priority to products with environmental protection labels, with information technology being the largest category of procurement. For example, in 2019, the proportion of energy-efficient and environmental-protection-labeled products purchased was 89.1%. In addition, in terms of personnel training, the concept of 'green procurement' has long been promoted to all staff members and the procurement department through education and training, information sharing, etc., to put into effect green procurement decisions that are beneficial to products or services.
Yuanta FHC's long-term vision is to become an 'international benchmark enterprise for sustainability,' while also focusing on the effects of energy saving and carbon reduction. Yuanta FHC began to subscribe for green power from Taipower in 2016, and in 2018 it switched to purchasing a 'renewable energy certificate' equivalent to a green power ID card. Starting from 2020, the first year of green power trading, Yuanta will voluntarily increase the number of renewable energy certificates purchased by 2% each year. In the past five years, the Yuanta Group has purchased 2.51 million kWh of low-carbon energy, successfully reducing 1,350 metric tons of carbon dioxide emissions, equivalent to the carbon absorption capacity of 4.1 Daan Forest Parks.
McKinsey Global Institute's 'The Future of Asia' report suggests climate hazards could have socio-economic impact on Asia. The outbreak of the COVID-19 pandemic this year further underscores the importance of risk and resilience. Looking to the future, with the three operational directions of environment (E), society (S), and governance (G) as the promotion foundation, Yuanta FHC will continue to follow the United Nations Sustainable Development Goals (SDGs). Moreover, Yuanta's working group of Task Force on Climate-related Financial Disclosures (TCFD), in response to the risks and opportunities associated with global climate change, will set goals in accordance with the highest international standards and strive to move the Yuanta FHC and society towards a sustainable life from all perspectives.
Yuanta Financial Holding Co., Ltd. is a Taiwan-based financial holding company mainly engaged in the financing businesses. The Company mainly conducts investment business and business management business. The Company mainly invests in financial holding company, banking, voucher finance, credit, trust, security, and other financial related businesses. The company's main businesses include voucher, banking, life insurance, investment trust and others.
YUANTA FINANCIAL HOLDING CO., LTD. 
