TAIPEI (Taiwan News) — International financial media, Euromoney, has announced its "2024 Awards for Excellence,” selecting Taipei Fubon Bank for its innovative green financial action plan and green investment.

With the award, “Taiwan’s Best Bank for ESG,” Taipei Fubon Bank has now held down the honor for three consecutive years, underscoring the bank’s commitment to environmental sustainability, green finance, and commitment to moving industries toward net-zero carbon emissions, per a Taipei Fubon Bank press release.

Euromoney’s "Awards for Excellence" has more than 30 years of history. Taipei Fubon Bank says its commitment to green finance led it to adopt the Glasgow Financial Alliance for Net Zero (GFANZ) initiative framework in 2023. The bank also makes use of the sustainable credit ESG checklist, ESG questionnaires, ESG rating tables, and other green evaluation methods in the credit review process.

By including ESG in the credit review process, Taipei Fubon Bank is compliant with international standards regarding the sustainable actions of credit recipients. At the same time, the bank also consults with corporate clients about achieving carbon reduction goals.

In terms of financial advisory services and project financing, the bank's focus in recent years has been placed on renewable energy, especially offshore wind power and solar power. The bank has been involved in many completed projects in recent years that have achieved outstanding results and created a stable green power supply for Taiwan.

For example, in 2023, Taipei Fubon Bank served as the sponsoring bank for the NT$117 billion (US$3.7bn) syndicated loan for the Hai Long Offshore Wind Project. The loan term will exceed 20 years, making it not only the largest but also the longest-term project financing in the history of the Asia-Pacific offshore wind power industry.

Taipei Fubon Bank has also encouraged domestic enterprises to undertake ESG development through special loan provisions. In 2023, it sponsored a sustainability-linked loan (SLL) of NT$500 million for electronics manufacturer Wistron. Later, it led to another SLL loan for LCD maker Innolux of NT$NT$40 billion.

In the future, Taipei Fubon Bank aims to continue its leadership role as a sustainable financial leader, promoting ESG goals, creating green financial action plans, and actively leading more companies toward net-zero carbon initiatives.