Pioneer in Green Finance

Cathay not only carries out full examinations and inventories on its internal business operation, but also upholds its sustainability vision of “being a leader in green finance, creating a sustainable future”. Cathay actively exercises its right of financial asset allocation to tangibly ameliorate the risks brought by climate change, collaborates with its customers through green cash flows, and acts as a leader in the industry to achieve the goal of net-zero emissions, so as to become a pioneer in the green energy industry in Taiwan.

Green Products and Services




Cumulative global financing for installed solar power station capacity (MW)




Cumulative financing for installed offshore wind energy capacity (MW)




Insured amount under Renewable Energy Contractors' (hydropower, solar power, and wind energy) & Erection All Risks Insurance (NT$100M)(Note 1)




Cumulative premium income from Green Vehicle Insurance (NT$10K)




Green Vehicle Insurance (cases)




Cumulative premium income from bicycle insurance (NT$10K)




Bicycle insurance (cases)




Cumulative insured amount under Public Bicycle Accident Insurance (NT$10K)




Cumulative insured cases under Public Bicycle Accident Insurance (10K ppl)




Note 1: No hydropower-related investments or insurance in 2022

Percentage of Renewable Energy Loans

CUB reached its 2025 goal for renewable energy loans to account for 85% of loans to the electricity generation industry in 2022.

As of Dec. 31, 2022






Percentage of available credits for renewable energies to the electricity generation industry






Promote Solar Power Industry Clusters

Promote Solar Power Industry Clusters

Cathay Life's venture into renewable energies revolves around solar power and was a three-step process: Cathay Life first invested, then collaborated (in a joint venture), and finally established a solar power subsidiary to build up its electricity generation assets. In 2014, Cathay Life started investing in solar power plants. In 2016, the company started working with critical raw material suppliers along the solar power value chain to develop solar power plants through joint ventures, promoting solar power industry clusters. To capitalize on opportunities presented by energy transition policies, Cathay Life leveraged its years of experience in the solar power industry to vertically integrate resources and assemble a professional management team. In 2022, Cathay Life became heavily involved in Cathay Power's merger, increasing its equity ownership of Cathay Power to 70% and becoming the first life insurance company in Taiwan to establish a solar power subsidiary. As of 2022, Cathay Life has invested a total of NT$4.07 billion, and the grid-connected installed capacity is now at 329.7 MW.In 2012, CUB became the first FI to finance a solar power station in Taiwan. In 2022, CUB approved loans for126 solar power stations with a total installed capacity of 131 MW. As of the end of 2022, loans have been approved for 2,600 solar power stations in Taiwan and abroad, with a total installed capacity of 889 MW and annual carbon reduction benefits of 558,000 metric tons. Note

Offshore Wind Energy

In 2016, CUB became the first FI to provide a syndicated loan for offshore wind farm projects in compliance with the Equator Principles (EPs) in Taiwan and helped finance the 640 MW Yunlin Offshore Wind Farm Project and 605 MW Greater Changhua Offshore Wind Farm Holdco Finance Project, led by the world's largest offshore wind developer - Ørsted A/S - to help Taiwan build infrastructure for renewable energies.

Note: Calculated based on Taiwan's average solar PV capacity factor in 2021 announced by the Taiwan Power Company and electricity emission factor of 0.509kg CO2/kWh in 2021 announced by the Bureau of Energy.

Green Deposit

In July 2022, CUB launched the Green Time Deposit Program to support the government's Green Finance Action Plan 2.0 & 3.0. As of the end of 2022, over 30 companies across transportation, electronics, chemical engineering, retail, machine tool, and construction industries have carried out the Green Time Deposit Program. Companies such as EVERGREEN MARINE CORP.(TAIWAN)LTD., TECO ELECTRIC & MACHINERY CO., LTD, UNITED INTEGRATED SERVICES CO., LTD., ADATA TECHNOLOGY CO., LTD., ABICO AVY CO., LTD., and UBRIGHT OPTRONICS COPORATION have shown support for the program. The program will undertake over NT$10 billion, and related funds from green savings have been invested in the development of renewable energy industries such as financing solar power plants, wind farms, and fishery and electricity symbiosis. In compliance with international norms of green finance, the program works with third-party advisors to evaluate the feasibility and effectiveness of green deposits investment plans and provide assurance reports on investment plans and the use of funds to ensure related funds are used for green lending purposes.

Achievements of the Green Time Deposit Program in 2022

Carried out by over 30 companies

Undertook NT$10 billion

Commissioned third-party advisors to evaluate the feasibility and effectiveness of green deposit investment plans and provide assurance reports on investment plans and the use of funds

Sustainability-Linked Loan

CUB is actively promoting sustainable finance across various markets and industries. As of the end of 2022, CUB had approved more than 30 SLLs in Taiwan, Hong Kong, the Philippines, Singapore, and Australia, covering industries such as electronic components, construction materials, real estate, textile, F&B, medical equipment, leasing, public utility, etc. Total approved facility amount is more than NT$23 billion. An SLL is a loan that incentivizes a borrower to improve its sustainability or environmental, social, and governance (ESG) performance, and KPIs must be chosen carefully in order to monitor ESG performance that is relevant and material to the industry of the borrower.

Accomplishment of in Sustainability-Linked Loans in 2022


CUB signed a bilateral SLL with Siliconware Precision Industries (SPIL), a top IC packaging and testing house in Taiwan. The approved facility amount is US$200 million or NT$ 6 billion, the highest CUB approved SLL facility to a single borrower.


Cathay United Bank Manila Branch (Philippines) signed a bilateral SLL with Prime Asset Ventures, Inc. (PAVI), a subsidiary of Villar Group in Philippines. Use of proceeds is for PAVI’s water company, PrimeWater. The approved facility amount is Peso 1.25 billion or NT$675 million, the first ever SLL in the Philippine market.


Cathay United Bank Hong Kong Branch received two awards - "Outstanding Award for Green and Sustainable Loan Structuring Advisor" and "Pioneering Organization in Climate Disclosure Planning" from "Hong Kong Green and Sustainable Finance Awards" organized by the Hong Kong Quality Assurance Agency (HKQAA).

Renewable Energy Industry Insuranc

Cathay Century has been offering insurance products targeting the development and operations of green industries since 2010. In 2016, Cathay Century became the first company of its kind in Taiwan to offer insurance for offshore wind turbines. Cathay Century remains dedicated to enhancing the competitiveness and professionalism of renewable energy industries and founded the Energy Infrastructure Team in 2020 to develop potential business opportunities in renewable energies through risk identification. In 2022, Cathay Century increased insurance coverage for solar power and offshore/onshore wind farms, underwriting an additional NT$34.19 billion.


Green Vehicle Insurance

With the growing awareness around environmental protection, car drivers and motorcyclists are now opting for eco-friendly electric vehicles (EVs) when purchasing new vehicles. In 2013, Cathay Century launched the "Green Vehicle Insurance," the first green energy product of its kind in Taiwan, to support government directives aiding green energy industries, encourage and support eco-friendly drivers and motorcyclists, and help transition transportation modes in Taiwan. As of the end of 2022, a total of 54,593 eco-friendly vehicles are insured under the "Green Vehicle Insurance."


Bicycle Insurance

Cathay Century launched bicycle rider insurance in 2014 and has insured 10,093 cases as of the end of 2022.In June 2018, Cathay Century launched Taiwan's first "Public Bicycle Accident Insurance" and "Public Bicycle Third-party Liability Insurance" policies to encourage more people to start biking. As of 2022, ten cities and counties across Taiwan - Kaohsiung, Tainan, Taipei, New Taipei, Taoyuan, Miaoli, Pingtung, Hsinchu, Kinmen, and Chiayi - have enrolled in the "Public Bicycle Accident Insurance," providing coverage for over 118 million people and mitigating risks for public bicycle riders to fulfill the diverse demands of green consumers.


Carbon Intensity of Insurance Product Portfolio

To better understand the carbon intensity of its underwriting portfolio, Cathay Century used the CRO Forum's methodology in "Carbon footprinting methodology for underwriting portfolios" to research and test out carbon intensity calculations for car insurances (main product) and energy-related insurance in 2022 and introduced PCAF methodology to conduct carbon accounting for the company's insurance product portfolio in April 2023.


CRO Forum Methodology




Car Insurance

Automobile Physical

Damage Insurance

Automobile Theft








General Electricity Generation Industries

Fire Insurance

Engineering Insurance

Marine Insurance

Liability Insurance





Renewable energy related industries




Unit: kg of GHG emissions/NT$1 of insurance policy earnings

Green Bonds

Green Bond Investments

As of the end of 2022, invested a total of NT$52 billion in domestic and international green bonds, around 2.65 times the investments in 2021.

Green Bond Underwriting

In May, July, and October of 2022, CUB participated in the underwriting of TSMC's green bonds listed on the Taipei Exchange. The bond issuance volume is NT$302 million with terms to maturity ranging between four to ten years. Funds from the sale of green bonds will be used to obtain green building certifications for TSMC facilities, large uninterrupted power supply systems, local exhaust gas treatment facilities, and wastewater treatment systems to increase energy use efficiency, reduce carbon emissions, and minimize pollution.

Cathay Securities offers consulting to eco-friendly and green companies to help them with raising funds. In 2022, Cathay Securities raised NT$195 million in funds for Anji Technology (core business: high-performance solar modules) with convertible bonds and participated in underwriting green bonds for Taipower and Natixis.

Sustainability Bond Underwriting

CUB participated in the underwriting of Société Générale's sustainability bonds listed on the Taipei Exchange in April 2022. The bond was Société Générale's first international sustainability bond issued and was launched in line with its Positive Impact Framework. This bond will finance or refinance environmental and social projects such as renewable energy, low-carbon transportation, water management, affordable housing, education and vocational training. The bond issuancevolumeis A$149 million with a ten-year maturity. CUB also participated in the underwriting of two other Société Générale international sustainability bonds in June and December of 2022. Additionally, CUB also underwrote Goldman Sachs' international sustainability bond in March, bringing the total to four international sustainability bonds in 2022.

Green Funds

Cathay Global Autonomous and Electric Vehicles ETF

Largest EV-themed ETF in Taiwan:

Several countries have committed to "carbon neutrality" by 2050. One of the more progressive policies is accelerating EV development, making self-driving EVs an inevitable trend in green investing.

The Cathay Global Autonomous and Electric Vehicles ETF (00893) launched by Cathay SITE reached NT$25.3 billion in assets by the end of 2022.

Cathay Sustainable PE fund

Invests 100% in key industries for sustainable development in Taiwan:

  • Committed to delivering NT$8 billion and contributed capital reached NT$5.6 billion in 2022. The fund currently has investments in two solar power projects, one wind power project, two circular economy projects, one IoT project, one solar power supply chain project, one energy storage project, and one EV project.
  • Invests in key industries such as the circular economy (e.g., wastewater treatment and waste treatment and reuse) and renewable energies (e.g., solar power, geothermal energy, hydropower, and energy storage) as well as innovative industries spotlighted in the government's 5+2 Industry Innovation Plan (IoT, smart machinery, long-term care, and new agriculture).

Impacts of the Cathay Sustainable Development PE fund

Wind Energy

In 2020, the fund inked an agreement with Ørsted A/S to acquire 50% shares in the 605 MW Greater Changhua Offshore Wind Farm and participate in its development with Caisse de dépôt et placement du Québec (Quebec Deposit and Investment Fund, CDPQ) to supply clean energy to over 650,000 households in Taiwan. Estimated to generate 1.95 billion kWh of electricity annually.

Solar Power

Estimated to generate 400 million kWh of electricity annually .

Waste Resin & Waste Paint Residue Treatment

Processes up to 1,425 metric tons and 17,100 tons monthly and annually, respectively.

Waste Rubber Treatment

Processes up to 15,000 metric tons annually.

Recycled Oil

Generates up to 120,000 metric tons of steam annually.


Please let us know your precious opinions.

Contact US


Happiness is how you think of what you have.


News Center

For more information, please visit our News Center.