Fubon Financial

The financial institution has a publicly available policy statement committing to respect ILO core labour rights and human rights. It assesses human rights risks and identifies salient issues, prioritising material sustainability impacts across its value chain based on objective criteria.

The institution discloses its membership in trade associations, positions on sustainability in lobbying and political engagement, and actions taken to align these activities with its sustainability strategy. It also reports the monetary amount or share of products, services, and capital linked to high-emitting and fossil fuel sectors.

Additionally, the institution discloses the monetary amount or share of products, services, and capital provided to usually excluded groups and small- and medium-sized enterprises, as well as operational data by country, such as employee numbers or revenue.

The institution has the opportunity to disclose its method for determining a living wage in its operational regions. Although major subsidiaries have signed the Stewardship Principles for Institutional Investors, there is no evidence of a stewardship policy supporting environmental transitions and social best practices aligned with the group’s sustainability strategy. It has disclosed that it does not provide products, services, or capital to certain fossil fuel projects or clients involved in such projects, but does not address all fossil fuels. The institution has set time-bound and measurable targets for “green” solutions but could specify the proportion allocated to climate solutions. Recommendations include disclosing the breakdown of clients and beneficiaries by income group, clarifying that its risk assessment process includes risks related to ILO fundamental rights at work, and identifying social risks associated with its offerings in relation to the net zero transition. Additionally, it is recommended that the institution provide an example of specific conclusions and actions taken regarding at least one salient human rights issue related to its products, services, and capital from the past three years.

The institution has the opportunity to disclose its method for determining a living wage in its operational regions. Although major subsidiaries have signed the Stewardship Principles for Institutional Investors, there is no evidence of a stewardship policy supporting environmental transitions and social best practices aligned with the group’s sustainability strategy. It has disclosed that it does not provide products, services, or capital to certain fossil fuel projects or clients involved in such projects, but does not address all fossil fuels. The institution has set time-bound and measurable targets for “green” solutions but could specify the proportion allocated to climate solutions.

Recommendations include disclosing the breakdown of clients and beneficiaries by income group, clarifying that its risk assessment process includes risks related to ILO fundamental rights at work, and identifying social risks associated with its offerings in relation to the net zero transition. Additionally, it is recommended that the institution provide an example of specific conclusions and actions taken regarding at least one salient human rights issue related to its products, services, and capital from the past three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.