As part of its efforts to actively use the financial sector's influence to promote environmental, social, and governance (ESG) sustainability, CTBC Bank announced its voluntary compliance with the U.N. Principles for Responsible Banking (PRB) on Dec. 26, 2019. Leveraging its strong corporate structure, CTBC Bank is committed to facilitating the sustainable development of the global financial system while providing its clients with professional and attentive financial services and implementing corporate social responsibility in an effort to help realize its vision of sustainability and the common good.

Officially launched at the U.N. General Assembly on Sept. 23, 2019, the PRB are a crucial benchmark that ensures that the practices of signatory banks align with the U.N.'s 2030 Sustainable Development Goals and Paris Agreement. Jointly formulated by the U.N. Environment Programme Finance Initiative and 30 founding banks worldwide, the PRB serve as a universal system for banks to achieve sustainable development.

Principles for Responsible Banking

The PRB comprise six principles, namely Alignment, Impact and Target Setting, Clients and Customers, Stakeholders, Governance and Culture, and Transparency and Accountability. Conforming to the PRB, CTBC Bank incorporates sustainable goals into its businesses and focuses on various aspects of ESG development. By developing more socially responsible financial products and operational processes, CTBC Bank is ensuring the positive influence of its financing activities and investment portfolios while shouldering the responsibility of environmental protection.

CTBC Bank plans to publish its first self-assessment report within 18 months of announcing its voluntary compliance with the PRB. The report will analyze major issues, the setting of goals, the formulation of sustainable strategies, and the development of specific action items. In addition, a sustainable strategy governance model will be established to allow CTBC Bank to further implement the PRB and fulfill its corporate social responsibility.