Non-financial disclosure framework and the content asked for disclosure have been gradually changing, but Cathay FHC is always the leader in the field. We make a significant breakthrough every year, and expect to shape a friendly environmental disclosure with other industries in Taiwan.
2012 First adopting “GRI Financial Services Sector Supplement” ahead of the field
2013 First publishing the English CSR report and website
2014 Replacing G3.1 with GRI G4
2015 First adopting Account Assure
2016 First adopting Integrated ESG Reporting
2017 Adopting the latest GRI Standards in advance
2018 All the indicators in Cathay FHC CS Report is assured
2019 First adopting Insurance Sustainability Accounting Standard and Commercial banks Sustainability Accounting Standard from Sustainability Accounting Standards Board(SASB)
About this Report
Cathay Financial Holding Co., Ltd. (hereinafter referred to as "Cathay FHC") upholds the principle of prudent management in the face of global political and economic changes. We have identified three engines of growth - "Insurance, Banking and Asset Management" - as our core strategy to seek continued growth and realize our vision of becoming "the leading financial institution in the Asia-Pacific region."
Cathay FHC has been issuing non-financial reports on an annual basis since 2011. The Cathay FHC 2019 Corporate Sustainability(CS) Report issued in June 2020 presents Cathay FHC's economic and environmental (E), social (S), and governance (G) performance in 2019 (1/1-12/31). The report allows all stakeholders interested in Cathay’s performance to understand Cathay's efforts in various issues. Chinese and English versions of Cathay FHC's CS Report can be downloaded from the "Corporate Sustainability" section on our website. The last edition was released in June 2019.
Basis for this Report
This report is compiled in accordance with the core options of the GRI Standards of the Global Reporting Initiative (GRI), and discloses the five capitals using the integrated reporting framework established by the International Integrated Reporting Council (IIRC). Contents of this report also correspond to the UN's Sustainable Development Goals (SDGs). This report also takes into consideration the Financial Services Sector Supplement, Corporate Social Responsibility Best Practice Principles for TWSE/GTSM Listed Companies, ISO 26000 Social Responsibility Guidelines, UN Global Compact, and Regulations Governing Preparation and Filing of CSR Reports by TSEC and GTSM Listed Companies, and Sustainability Accounting Standards Board, SASB. The financial data in this report is audited by Deloitte & Touche (Taiwan) and published in Cathay FHC 2019 Annual Report. The non-financial data is based on the declared information to competent authorities or audited by external management system accreditations authorities.
This report has been prepared based upon the scope of the consolidated financial statements. It encompasses Cathay FHC and its subsidiaries: Cathay Life Insurance (Cathay Life), Cathay United Bank (CUB), Cathay Century Insurance (Cathay Century), Cathay Securities Corporation (Cathay Securities), Cathay Securities Investment Trust (Cathay SITE), Cathay Venture and Cathay Futures, and discloses information that is relevant to Cathay's core region of operations, Taiwan. This report provides information on important investment and lending counterparts, suppliers, and customers based on the disclosure requirements of each type of capital.
The Company has engaged PwC Taiwan to corroborate its report compiled based on the GRI Standard using the standards published by the Accounting Research and Development Foundation in Statement of Assurance Principles No. 1, “Audit and Review of Non-financial Information” and ISAE 3000, to which PwC has concluded with an opinion of limited assurance. A copy of this opinion is included in the appendix of this report.
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