Sustainability Commitment and Strategy
Cathay aims to be the best financial institution in the Asia Pacific. As such, we have incorporated corporate sustainability into our decision-making processes for the three major branches of our operations: insurance, banking, and asset management. We shall implement sustainable finance by making use of our core competencies in capital and risk management. Cathay set forth the three sustainability focus areas of climate, health, and empowerment, and then we evaluated the risks and opportunities that our core operations present to the UN SDGs. We then aligned the three focus areas with 10 SDGs and implemented them in our daily operations. This ensures that while we strive to provide the best service in the financial industry, we can also solve social and environmental issues and empower stakeholders with greater resilience.
Cathay FHC established the 3 focus areas for sustainability through the following procedures, and focuses on 9 SDGs to achieve sustainability.
1.Identify key impacts: Reviewed the four ESG focus areas (Renewable Energy & Infrastructure, Aging Society & Health, Women Empowerment, and Community & Financial Inclusion) at the end of 2019, and interviewed 12 senior executives to identify key risks and opportunities by analyzing international trends and major issues in Taiwan.
2.Focus on core development: Cathay's three sustainability focus areas (Climate, Health, and Empowerment) were established in 2021 after multiple rounds of consensus meetings across companies and departments, which measured the SDG risks and opportunities within our core operations.
3.Established the Blueprint of Sustainability Strategies:
Organize a roadmap planning team at the group level (functions across subsidiaries) to draft the sustainability strategy blueprint. The team will keep abreast of international trends and develop a sustainable strategy best suited for Cathay by combining the core competencies of each subsidiary.
Cathay's Contribution to the SDGs in 2022
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