Fubon Financial

Fubon Financial, a financial intermediation services company based in Taiwan, reported total emissions of approximately 388 million kg CO2e in 2024. This figure comprises about 4.03 million kg CO2e from Scope 1, 41.57 million kg CO2e from Scope 2 (market-based), and 343.02 million kg CO2e from Scope 3 emissions.

Looking back, their total emissions in 2023 were approximately 400 million kg CO2e, with Scope 1 at 8.95 million kg CO2e, Scope 2 (market-based) at 50.09 million kg CO2e, and Scope 3 at 340.55 million kg CO2e. In 2022, total emissions were around 192.83 million kg CO2e, consisting of 5.09 million kg CO2e from Scope 1, 55.1 million kg CO2e from Scope 2 (market-based), and 127.37 million kg CO2e from Scope 3.

Fubon Financial is committed to achieving net-zero greenhouse gas emissions by 2050, as part of their "Run For Green" ESG initiative launched in 2021. This commitment applies to all scopes of emissions. They have signed the new version of the SBTi commitment letter, committing to achieve net-zero emissions by 2050 at the latest for Scope 1 and Scope 2 emissions.

For their operational emissions, Fubon Financial has set several near-term targets. They aim to achieve net-zero for their own operations by 2030 for Scope 1 emissions. Specifically, using 2020 as a baseline, they target a 16.9% reduction in total operational (Scope 1 and 2) emissions by 2024. This includes a 2% reduction in Scope 1 emissions and an 18.2% reduction in Scope 2 emissions. By 2030, they aim for a 42% reduction in total operational emissions compared to 2020, with a 5% reduction in Scope 1 and a 45.5% reduction in Scope 2. An older target from 2020 aimed for a 12% absolute reduction in Scope 1 and Scope 2 emissions by 2025 compared to 2017 baselines, alongside a 3.5% per capita carbon reduction intensity target for Scope 1 and Scope 2 over the same period. More recently, in 2023, the Company pledged to reduce Scope 1 and Scope 2 emissions by 12.6% by 2023 (1.5% reduction in Scope 1 and 13.6% reduction in Scope 2) from a 2020 baseline, and by 42% by 2030, with a long-term goal of 92.3% reduction by 2040 (including a 100% reduction in Scope 2 emissions).

Fubon Financial's Science Based Targets initiative (SBTi) commitments indicate that their targets covering Scope 1 and 2 emissions are consistent with keeping warming to 1.5°C. Their portfolio targets cover 53% of their total investment and lending activities by monetary value as of 2019.