Cathay Financial Holding Co Sustainability Profile
Cathay Financial Holding Co., often referred to as Cathay Holdings, is a prominent financial services conglomerate headquartered in Taiwan (TW). Established in 2000, the company has rapidly evolved to become a key player in the financial industry, with significant operations across Asia and beyond. Cathay Financial Holding Co. primarily operates in the insurance, banking, and asset management sectors, offering a diverse range of products and services tailored to meet the needs of individual and corporate clients. Its unique approach combines innovative financial solutions with a strong commitment to customer service, setting it apart in a competitive market. With a solid market position, Cathay Holdings has achieved notable milestones, including recognition for its robust financial performance and commitment to sustainable practices. The company continues to strengthen its reputation as a leader in the financial services landscape, driven by a focus on growth and excellence.
DitchCarbon Score
How does Cathay Financial Holding Co's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Cathay Financial Holding Co's score of 60 is higher than 75% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Cathay Financial Holding Co's reported carbon emissions
In 2024, Cathay Financial Holding Co., based in Taiwan (TW), reported significant carbon emissions across various scopes. The total emissions were approximately 1,270,050,550 kg CO2e, with Scope 1 emissions at about 8,601,512 kg CO2e, Scope 2 emissions at approximately 61,342,253 kg CO2e, and Scope 3 emissions reaching around 1,270,050,550 kg CO2e, which includes investments amounting to about 12,288,888,720 kg CO2e. For 2023, the company disclosed total emissions of approximately 1,478,497,110 kg CO2e in Taiwan, with Scope 1 emissions at about 5,455,974.8 kg CO2e and Scope 2 emissions at approximately 60,637,698.5 kg CO2e. The Scope 3 emissions for the same year were reported at around 1,478,497,110 kg CO2e, including significant investment-related emissions. Cathay Financial Holding Co. has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 emissions by 30% from a 2015 baseline by 2025. Additionally, the company has pledged to achieve net-zero emissions by 2050 across all scopes. These targets align with the Science Based Targets initiative (SBTi), which covers 46% of its total investment and lending activities by monetary value as of 2020. The company is committed to maintaining a trajectory consistent with the 1.5°C climate scenario, targeting an annual reduction of 4.2% in emissions from 2020 to 2025. This comprehensive approach reflects Cathay's dedication to addressing climate change and reducing its carbon footprint effectively.
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| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 883,910 | 0,000,000 | 0,000,000 | - | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | - | - | - |
| Scope 2 | 11,942,010 | 00,000,000 | 00,000,000 | - | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | - | - | - |
| Scope 3 | - | - | - | 0,000,000 | 000,000 | 000,000 | 0,000,000 | 0,000,000 | 000,000,000 | 00,000,000,000 | 00,000,000,000 |
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Cathay Financial Holding Co's Scope 3 Categories Breakdown
Cathay Financial Holding Co's Scope 3 emissions, which increased by 0% last year and increased significantly since 2016, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 3% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 1% of Scope 3 emissions.
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Cathay Financial Holding Co's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Cathay Financial Holding Co has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Cathay Financial Holding Co's sustainability data and climate commitments