Fubon Financial : Insurance is the First to Commit to "2050 Net-Zero Underwriting" to help Taiwan Achieve Net-Zero

Collaborating with AUO Envirotech to Promote a Full Range of Carbon Management Services

On the eve of World Environment Day (June 5), Fubon Insurance is the first non-life insurance company in Taiwan to propose the "2050 Net-Zero Underwriting" policy in response to the global and Taiwan's net-zero trend and policy to contribute to the sustainability of the earth. After 2050, Fubon Insurance will no longer underwrite companies in the coal and fossil fuel industries that do not have specific carbon reduction or low-carbon transformation plans, and will assist corporate customers in their low-carbon transformation through related services or actions. Meanwhile, Fubon Insurance has joined hands with AUO Envirotech, a subsidiary of AUO Group that provides professional services for green and sustainable solutions, to help corporate customers implement energy-saving and carbon-reduction measures and complete net-zero carbon emission solutions, so that we can move towards the goal of net-zero carbon emission in 2050 together with the customers.

According to the norms of GHG Protocol, corporate carbon emissions are mainly divided into three categories, including direct emissions from enterprise operations, indirect emissions from energy use such as purchased electricity, and all indirect emissions generated externally from enterprises, including supply chain manufacturers, underwriting targets, investment targets and other enterprises. In addition to obtaining the "double label certification" of the Environmental Protection Administration's carbon label and carbon reduction label in 2022, Fubon Insurance has also launched various power saving and green energy use projects, including the demolition of Fubon Insurance headquarter, which was the world's first classified recycling mechanism to introduce UL2799 Zero Waste to Landfill certification, becoming the world's first construction and demolition project to obtain UL2799 Gold-level certification. Fubon Insurance also took the lead in proposing "Net-Zero Underwriting 2050", aiming to no longer underwrite manufacturers in the coal and fossil fuel industries that do not have specific carbon reduction actions or low-carbon transformation plans after 2050. For the existing insurance policies in related industries, the underwriting ratio will not be increased based on 2023.

Fubon Insurance said that while participating in the development of green energy since 2017, Fubon Insurance has begun to gradually reduce its investment in coal-related corporate insurance in line with the international trend, and proposed "2050 Net-Zero Underwriting", hoping to combine commodity and risk consulting services to assist customers in insurance planning for the transformation to green energy, provide loss prevention suggestions, encourage customers to strengthen the management of emerging green energy and renewable energy risks, and work together to cope with the risks of low-carbon transformation. In addition, Fubon Insurance signed a letter of intent with AUO Envirotech at the beginning of the year to jointly promote the concept of net-zero carbon emissions, assist corporate customers to build carbon management capabilities, and guide customers to establish a carbon management platform, improve the efficiency of carbon inventory, and complete the internal carbon management system through AUO Envirotech's rich carbon management professional experience, so as to effectively achieve carbon management in response to the relevant domestic and foreign regulations and supply chain requirements, help enterprises move towards net-zero and sustainable development, protect the environment and enhance corporate competitiveness at the same time.

Fubon Insurance will continue to move towards the goal of "Net-Zero Underwriting by 2050", and also looks forward to working with corporate customers to move towards net-zero carbon emissions and lead Taiwan towards a sustainable future in the face of global climate change challenges!