News

S&P Global Sustainability Yearbook released its 2023 ranking, in which Cathay Financial Holding Co. Ltd. ("Cathay") outperformed its domestic and foreign counterparts in the financial industry, ranking in the top 1% among banks globally. Only three banks worldwide received this honor, demonstrating Cathay's long-term commitment to ESG and sustainable finance, which has earned international recognition.

The Global Sustainability Yearbook is one of the most iconic ESG publications internationally. Based on the Dow Jones Sustainability Index (DJSI) of that year, it comprehensively evaluates the three dimensions of environmental, social, and corporate governance (ESG) and scores the 7,800 companies globally with a total market value exceeding USD 84 trillion. This year, 708 companies, including 43 Taiwanese companies, were selected. Cathay has been selected for seven consecutive years since 2017 and was ranked in the top 1% in the banking industry for the first time in 2019. This year, it has once again received the highest honor by ranking in the top 1%.

In addition to the recognition from DJSI, Sustainalytics, which is highly valued by international investors for its sustainability risk assessment, recently announced its latest results. Cathay was selected for the second time as the "ESG Regional Top Rated" and "ESG Industry Top Rated" in the Asia-Pacific region, making it the only bank in Taiwan and one of only three in Asia to receive this honor. The report shows that Cathay's overall ESG risk is "Low Risk," and it has performed outstandingly in integrating ESG with financial business, human capital, and product governance.

Cathay actively participates in domestic and foreign representative sustainability assessments, further benchmarking against international best practices, continuously improving internal management mechanisms and external information disclosure. This includes the announcement of its 2035 divestment plan from coal and non-traditional oil and gas industries in 2022, the introduction of internal carbon pricing for credit and investment positions, inclusion of carbon costs in business management references, and response to the TNFD framework by being the first financial institution in Taiwan to release the first climate and natural environment report.

Chen Mei-Man, the general manager of Cathay's sustainability division, expressed her gratitude for the recognition from various international assessments, allowing the efforts of Taiwan's financial industry in sustainability to be seen by the world. Cathay will transform this honor and responsibility into the momentum for continuous progress, exerting positive financial influence, and crossing the three major obstacles of corporate performance, corporate social responsibility, and sustainable development with its customers to move towards a sustainable future together.