Fubon Financial

Fubon Financial, a Taiwan-based financial intermediation services company, reported total market-based Scope 1 and 2 emissions of approximately 45,594,000 kg CO2e in 2024. Their Scope 1 emissions were about 4,026,000 kg CO2e, and Scope 2 emissions (market-based) were around 41,568,000 kg CO2e. Scope 3 emissions for the same year amounted to approximately 343,024,000 kg CO2e, including significant contributions from downstream leased assets (around 162,129,000 kg CO2e) and capital goods (approximately 88,832,000 kg CO2e).

Looking back, Fubon Financial's total Scope 1 and 2 emissions (market-based) were about 59,040,000 kg CO2e in 2023 and approximately 60,191,000 kg CO2e in 2022. Their Scope 3 emissions were around 340,552,000 kg CO2e in 2023 and 127,369,000 kg CO2e in 2022.

Fubon Financial is committed to climate action, aiming for net-zero emissions by 2050 at the latest. They signed the SBTi commitment letter, indicating their intent to align with a 1.5°C warming scenario, with near-term targets set for 2027 and long-term targets under development. Their portfolio targets cover 53% of their total investment and lending activities as of 2019.

The company has set several near-term absolute reduction targets. Using 2020 as a baseline, they aim to reduce Scope 1 and 2 emissions by 16.9% by 2024. This includes a 2% reduction in Scope 1 emissions and an 18.2% reduction in Scope 2 emissions by 2024. Furthermore, they are targeting a 42% reduction in combined Scope 1 and 2 emissions by 2030, which breaks down to a 5% reduction in Scope 1 emissions and a 45.5% reduction in Scope 2 emissions. They also have an ambitious target to achieve a 92.3% reduction in overall emissions by 2040, with a 5% reduction in Scope 1 and a 100% reduction in Scope 2 by that year.

In addition to absolute targets, Fubon has intensity targets. For Scope 1 and 2, they aim for a 3.5% per capita carbon reduction by 2025, using 2017 as the base year. They also pledged to reduce emissions by 12.6% by 2023 compared to their 2020 baseline, comprising a 1.5% reduction in Scope 1 and a 13.6% reduction in Scope 2. The company's own operations are targeted to achieve net-zero by 2030.