Cathay United Bank Crowned Best Bank for Sustainable Finance for Outstanding ESG Achievements
TAIPEI, April 23, 2025 /PRNewswire/ -- Cathay United Bank, a longstanding advocate for energy transition, was recently crowned Best Bank for Sustainable Finance at the ESG Investing Awards by Global Markets Media. The Bank outperformed prominent global contenders such as Morgan Stanley, TD Bank Group, and the Bank of Nova Scotia, to be named the winner - the only Asian enterprise to claim such a title!
As the top sustainable finance brand in Taiwan, Cathay United Bank bases its energy transition policy on the Low-Carbon Economic Blueprint and the Environmental Sustainability Blueprint – covering Scope 1 to 3 emissions and the use of renewable energy – fully supporting Earth Day's 2025 theme: "Our Power, Our Planet". In addition to being the first in Taiwan's financial sector to complete the energy transition of its head office in 2022, the Bank has been paving the way toward sustainability, providing financial solutions to all customers and stakeholders in pursuit of net zero.
Cathay United Bank noted that instead of viewing sustainable transition as a risk, it should be regarded as a positive force that drives business growth and transformation, while enhancing the risk resilience of businesses. The Bank introduced several innovations during its commitment to sustainable development, such as promoting internal carbon pricing for internal energy transition, and empowering employees to engage in their companies' transition through sustainability performance-linked payroll services. With many companies inspired, the Bank is increasingly focused on transition strategies in its planning, aiming to create mutually beneficial long-term value for stakeholders.
To share experiences and explore solutions for sustainable transition with its partners, Cathay United Bank has established diverse collaboration models. For example, the Bank teamed up with the CDP, an international non-profit organization that helps companies disclose their environmental impact, to assist customers in understanding the importance of net zero and impact management. In 2024, thanks to the efforts of experts and the Bank's staff, 121 among 150 companies invited by the Bank successfully obtained CDP scores, with the response rate of the CDP questionnaire exceeding 80 percent – landing high above the global supply chain's average of 50 percent. The Bank also held forums and workshops with reputed organizations to share knowledge on achieving sustainable transition.
Furthermore, Cathay United Bank engaged with the Metal Industries Research and Development Centre, Taiwan's first carbon footprint verification agency, to accelerate net zero transition by offering businesses transition technologies. The Bank has also created engagement models tailored to customers' industry type, business scale, carbon emission level, and ESG development progress, aiming to enhance the customers' ability to implement net zero transition. At the same time, the Bank continues to provide sustainability-linked loans, green deposits, sustainability performance-linked payroll services, and sustainable finance partnerships with small and medium enterprises. By offering technical and capital support, the Bank assists customers in achieving their sustainability goals.
Aside from achieving PAS 2060 certification for its head office and three green branches in 2024, Cathay United Bank further exemplified its role as a "green" landlord by signing a Corporate Power Purchase Agreement (CPPA). This CPPA offers lessees with the option of renewable energy and marks a step further towards achieving sustainability. Looking ahead, the Bank remains committed to the idea of "Our Power, Our Planet", and aspires to wield its influence to bring together employees, customers, and stakeholders in the pursuit of net zero – building a sustainable tomorrow.
SOURCE Cathay United Bank
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