Created in 2005, Labor Pension Fund is a Taiwanese defined contribution scheme. It has a government guaranteed rate of return of no less than 2-year time deposit interest rate of local banks, which helps to secure the pensioners’ retirement. The fund is a part of Taiwanese Labor Funds governed by the Ministry of Labor.
In terms of its approach to senior leadership accountability, Labor Pension Fund has an opportunity to assign responsibility for sustainability to the group’s highest governing body and link the remuneration of its executive or management teams to sustainability performance criteria. Furthermore, no evidence was found that the financial institution is committed to gender equality and women’s empowerment. Labor Pension Fund could disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. The financial institution has an opportunity to describe its engagement approach on sustainability themes and impact topics with clients and investees.
There is no evidence that Labor Pension Fund discloses a target to reach net-zero financed emissions by 2050. It has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Furthermore. It could disclose the amount of its investment devoted to climate solutions. Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions.
There is no evidence that Labor Pension Fund has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles and the ILO declaration on fundamental rights at work. Therefore, it has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. It also has an opportunity to disclose the proportion of its total direct operations workforce for each employee category by age group, gender or another indicator of diversity. To provide transparency on financial inclusivity, the financial institution could disclose the amount of finance directed towards low-income developing countries.