Taipei, (ANTARA/PRNewswire) – Cathay United Bank has been awarded Best Bank for Sustainable Finance at the ESG Investing Awards by Global Markets Media. The bank outshone global giants such as Morgan Stanley, TD Bank Group, and the Bank of Nova Scotia to claim the prestigious title, becoming the first Asian bank to do so.
As Taiwan’s leading sustainable finance institution, Cathay United Bank’s energy transition strategy is rooted in its Low-Carbon Economic Blueprint and Environmental Sustainability Blueprint. These initiatives address all levels of emissions, from Scope 1 to Scope 3, and prioritize the use of renewable energy. The bank’s efforts align with the Earth Day 2025 theme, “Our Power, Our Planet.” In 2022, Cathay United Bank became the first in Taiwan’s financial sector to complete the energy transition of its head office, setting a strong example in sustainability.
Cathay United Bank believes that sustainable transition should be viewed not as a risk, but as a powerful driver of business growth and transformation. By focusing on sustainability, the bank has enhanced its resilience to business risks. The bank has also pioneered several initiatives, including the introduction of internal carbon pricing and sustainability performance-linked payroll services, allowing employees to actively participate in the transition process. These innovations have inspired other companies to adopt similar approaches, further promoting sustainability across various sectors.
The bank has developed collaborative partnerships to share insights and solutions for a sustainable future. It partnered with CDP, an international non-profit organization, to help businesses disclose their environmental impact. In 2024, 121 out of 150 companies invited by the bank received CDP scores, with an 80% response rate to the CDP questionnaire—far surpassing the global average of 50%. The bank also hosted forums and workshops with leading organizations to share strategies for achieving sustainable transition.
Cathay United Bank has worked closely with Taiwan’s Metal Industries Research and Development Centre, the country’s first carbon footprint verification agency, to accelerate the net-zero transition. The bank also offers industry-specific engagement models to help businesses of all sizes and sectors achieve their sustainability goals. This includes providing sustainability-linked loans, green deposits, and partnerships with small and medium enterprises to support their transition to net zero.
In 2024, the bank earned PAS 2060 certification for its head office and three green branches. It also signed a Corporate Power Purchase Agreement (CPPA), offering lessees the option to use renewable energy. Looking forward, Cathay United Bank remains committed to its sustainability vision and the “Our Power, Our Planet” theme, continuing to unite employees, customers, and stakeholders in the pursuit of a sustainable, net-zero future.
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