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Taipei Fubon Commercial Bank adopts the Equator Principles
4 December, 2017 Signatory News
Taipei, 4 December 2017
Taipei Fubon Commercial Bank (TFB) adopts the Equator Principles as of December 4 2017, committing itself to the globally-recognized benchmark for the financial industry to manage environmental, social and corporate governance risks. TFB is a wholly owned subsidiary of Fubon Financial Holding Company (Fubon FHC), a constituent of the Dow Jones Sustainability Indices (DJSI) Wolrd Index in 2017, for having achieved above-industry average performance in economic, environmental and social aspects.
The Equator Principles are a credit risk management framework for identifying, assessing, and managing environmental and social risks in applicable project finance transactions. The principles are adopted voluntarily by financial institutions with the aim to reduce the impact on the environment and society as a result of the financed projects. At present, there are 92 banks, including TFB, joining the Equator Principles Association. The Principles are based on the International Finance Corporation’s (IFC) Performance Standards on Environmental and Social Sustainability, and on the World Bank Group’s Environmental, Health and Safety Guidelines.
“As a leading finance institution in Taiwan and as a 100% subsidiary of Fubon FHC, we are aware of our ESG (Environment, social and Corporate Governance) responsibility from which we draw consequences for sustained actions”, said Eric Chen chairman of TFB. In the year 2015, TFB introduced sustainability guidelines demanding consideration of ESG impacts for each transaction it finances.
“We set the sustainability guidelines to make our stakeholders aware of the sustainability issues and encourage them to jointly support the sustainability of our world. Adopting the Equator Principles is one more logical step in our commitment in ESG”, said Eric. Compliance with the Equator Principles shall not be a challenge for TFB. TFB has already set its own sustainability guidelines and some parts are even more stringent as it does not limit these guidelines to project financing.
About Taipei Fubon Bank
TFB is a commercial bank offering its customers a wide range of products and services including deposits, loans, trust, investments, and consulting services. TFB is a wholly owned subsidiary of Fubon FHC, the second largest financial holding company in Taiwan and a constituent of the DJSI Emerging Markets in 2016 and 2017 for two consecutive years. TFB was formed through the merger of the Taipei Bank and the Fubon Bank, making it one of the biggest privately owned banks in Taiwan. TFB owns 127 branches in Taiwan, 5 overseas branches, and 1 wholly owned subsidiary, the Fubon Bank (China). As of Dec. 31 2016, TFB’s consolidated assets stood at NTD2, 414 billion, and TFB employs more than 6,500 people. TFB has “A-/A-2” long-term and short-term “A2/P-a” credit ratings from Moody’s with a Stable outlook. TFB won awards for its professional achievements and excellent operational performances by domestic and foreign media. TFB has been awarded institutional banking business awards by a number of International professional organizations, such as Asiamoney, the Asset, and FCI; retail banking business awards of digital finance, private banking and wealth management business by professional domestic and foreign institutions, such as Euromoney, Global Finance, International Finance Magazine, and CommonWealth Magazine, etc. For more information on TFB and FHC, please visit the following websites: https://www.fubon.com/bank/sitemap/sitemap_bank.htm, and https://www.fubon.com/financialholdings/en/home/index.html.