Chang Hwa Bank Celebrates 120 Years with a Bold Net-Zero Transformation Debut at the 2050 Net-Zero City Exhibition

Tina Teng, Deputy General Manager of Chang Hwa Bank (third from the right in the second row), led the Environmental Sustainability Team to participate in the opening event, showcasing Chang Hwa Bank’s significant achievements and firm commitment toward net-zero emissions.

Chang Hwa Bank is proactively aligning with the nation's 2050 net-zero emissions target by participating for the first time in the 3rd 2050 Net-Zero City Exhibition. Co-hosted by the National Development Council and the Taipei Computer Association, the event was held from March 18 to 21 at the Nangang Exhibition Center (Hall 2, 4th floor). During the opening ceremony, Deputy General Manager Tina Teng led the bank's environmental sustainability team to showcase its substantial achievements and unwavering commitment to a net-zero future.

Amid mounting global climate change challenges, government agencies have rolled out successive net-zero strategies and actions. To foster a unified approach among the public, private, and academic sectors, the National Development Council collaborates regularly with the Taipei Computer Association to host the Net-Zero City Exhibition, now in its third edition.

As one of Taiwan's century-old financial institutions, Chang Hwa Bank marks its 120th anniversary this year—ushering in its third 60-year cycle—with a renewed focus on climate change and carbon management. The bank has embedded these issues into its sustainability agenda by establishing a Sustainability Committee and an Executive Sustainability Task Force. This initiative reinforces five key management pillars: corporate governance, responsible finance, employee well-being, social inclusion, and environmental sustainability, integrating sustainable development into its core business and operational practices. In recent years, Chang Hwa Bank has excelled in the field of sustainable development. Its achievements include earning a CDP A-level rating, being named among Business Weekly's 2024 Carbon Competitiveness Top 100, receiving the National Sustainability Award for Corporate Sustainability, the National Corporate Environmental Protection Silver Award, and securing a Low Carbon Building Certificate. Under its "Science-based Carbon Reduction" strategy, the bank has set an ambitious target to reduce its operational carbon emissions by 42% by 2030 compared to 2020 levels—a target that has been validated by the Science Based Targets initiative (SBTi).

The bank's comprehensive carbon management framework covers a full spectrum of initiatives including: Comprehensive Inventorying: Assessing all greenhouse gas emissions across domestic, international, and subsidiary operations；Energy Equipment Upgrades: Replacing outdated energy systems；Vehicle Fleet Transformation: Transitioning from fuel-powered to hybrid or fully electric vehicles；Enhanced Renewable Energy Usage: Increasing the share of renewable energy；Carbon Neutrality Actions: Implementing projects that drive the bank toward a net-zero future. Notably, Chang Hwa Bank's contactless credit card now incorporates ISO-standard assessments for carbon and water footprints, earning international verification. Additionally, branch-level carbon neutrality transition projects have been certified under PAS 2060.

Chang Hwa Bank will continue to deepen its ESG management strategy, actively support government-led net-zero policies, and contribute to building a sustainable society.

About Chang Hwa Bank's "Science-based Carbon Reduction" 5C Action Plan
Validated by SBTi, Chang Hwa Bank's carbon reduction target aims for a 42% decrease in operational emissions by 2030 compared to 2020. This objective is being pursued through the implementation of the 5C Carbon Action plan:
1. Carbon Inventory
o　Conduct comprehensive greenhouse gas inventories (Scopes 1 to 5) for all domestic, international, and subsidiary operations in accordance with ISO 14064-1.
o　Calculate carbon emissions from investment and financing activities using the PCAF methodology.

2. Carbon Reduction
o　Strategy One: Enhance Energy Efficiency in Air Conditioning and Lighting
　§　Replace all lighting with LED equipment.
　§　Prioritize replacing air conditioning units older than 30 years.

o　Strategy Two: Upgrade Fuel-Powered Vehicles to Hybrid or Fully Electric Models
　§　Transition fuel-powered cars to hybrid models.
　§　Transition fuel-powered motorcycles to electric alternatives.

o　Strategy Three: Increase Renewable Energy Usage to Offset Carbon Reduction Gaps
　§　Install rooftop solar power systems at branches for self-consumption.
　§　Purchase green energy.

3. Carbon Footprint
o　Integrate ISO 14067 carbon footprint and ISO 14046 water footprint assessments into the bank's contactless credit card, earning verification from the British Standards Institution and obtaining the Ministry of Environment’s product carbon footprint certification.

4. Carbon Neutrality
o　Execute the Shulin branch's carbon neutrality transition project in accordance with the PAS 2060:2014 standard, and secure a PAS 2060 Carbon Neutrality certificate following external verification.

5. Carbon Credit
o　Implement a "Voluntary Greenhouse Gas Emission Reduction Credit Project" in line with national guidelines and UN Clean Development Mechanism methodologies to calculate carbon credits generated from reduction actions at the Xisong, Changhua, and Xitainan branches. The project has passed registration review, and monitoring and verification processes are underway to facilitate future applications for carbon credits with the Ministry of Environment's Climate Change Department.

Through these initiatives, Chang Hwa Bank not only reaffirms its commitment to environmental stewardship but also sets a robust example for sustainable financial practices in the industry.