SINGAPORE, Sept. 4, 2024 /PRNewswire/ -- The Asia Responsible Enterprise Awards (AREA) 2024, presented by Enterprise Asia, was pleased to honor SinoPac Financial Holdings Company Limited (SinoPac Holdings) under the categories of Social Empowerment, Green Leadership, Investment In People, and Corporate Sustainability Reporting, and Chairman Ms. Shi-Kuan Chen under the Responsible Business Leadership category.
As Chairman of SinoPac Holdings, Ms. Shi-Kuan Chen believes that Net Zero emissions are not just a cost item; they are a business opportunity. Accordingly, she strives to lead the company to direct investments toward green and sustainable economic activities and provide financial support to green energy and climate tech startups, leveraging the company's unique position to help Taiwan achieve its Net Zero objectives through sustainable finance.
Under the Social Empowerment category, SinoPac Holdings presented its 'SinoPac Store Power Up Project' to empower local store capability, amplifying the company's social impact. The project empowered 4 stores to upgrade production capacity to increase more than 10% revenue, offered 6 homeless individuals food and daily care, set up 2 child education corners, created 14 additional job opportunities, initiated 2 community festivals, promoted eco-friendly farming, held 6 beach clean-ups, and supported the recovery of fireflies and owls.
Showcasing its alignment with the values for the Green Leadership category, SinoPac Holdings formed Environmental Sustainability Teams which were formulated under three strategic initiatives: 'Driving Climate Change Mitigation Actions', 'Deepening Sustainable Supply Chain Management', and 'Promoting Green Procurement to Foster Sustainable Consumption and Production Patterns'. Additionally, five energy-saving and carbon reduction projects were completed, focusing on optimizing lighting and air conditioning equipment; these efforts led to a reduction of 828 MWh in electricity consumption and 410 tons of carbon emissions.
The 'SinoPac's Seed Cultivation and Development Program' earned the AREA under the Investment in People category, and it aims to cultivate a complete talent chain, promoting sustainable growth and development of employees. From new employees to senior executives, clear career development paths are planned and deployed in advance, while collaboration with universities bridges the gap between theory and practice, inviting talents to explore a career experience. As a part of the project's achievements, SinoPac Holdings achieved a four-year (2020-2023) compound annual growth rate (CAGR) of 18.1% in after-tax net profit, reaching a historic high of NTD 16 billion in 2023.
Titled 'Together, A Better Life', SinoPac Holdings' project for the Corporate Sustainability Reporting category upholds the company's vision of 'Fulfillment of a Beautiful Life Through Finance'. It has also upheld the four sustainable development missions and set five sustainability themes. Its report shows that SinoPac Holdings aims to direct investments to green and sustainable economic activities and provide financial support for alternative energy and climate tech startups to contribute to Taiwan's Net Zero goal through sustainable finance.
Under the leadership of Ms. Shi-Kuan Chen, SinoPac Holding has set a new standard for corporate responsibility. The company's detailed sustainability reports are a testament to its commitment to transparency and accountability while its CSR programs highlight its dedication to creating a positive impact on society and the planet.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplifting the economic status of people across Asia and ensuring a legacy of hope, innovation, and courage for future generations. Please visit https://www.enterpriseasia.org/ for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit https://enterpriseasia.org/area/.
