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Bank SinoPac Adopts Equator Principles, Approaching to Responsible Lending

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【2020.3.3】

Bank SinoPac(BSP) has announced its adoption of the Equator Principles (EPs), becoming the 102nd Equator Principle Financial Institution(EPFIs), in response to the United Nations Sustainable Development Goals (SDGs), the Paris Agreement and implementation of responsible lending. BSP said that though banking industry is not high-energy-consuming, it plays an important role in global decarbonization as it leads the key financial flows that support economic operations. BSP incorporates ESG risks in the evaluation of lending decision-making process while assessing whether customers understand the risks, opportunities, and impacts to financial performance associated with climate change and takes further measures.

Since 2014, BSP has embedded the spirit of the Equator Principles into its commercial lending policies. After becoming a signatory of the EPs, BSP will more thoroughly integrate Environmental, Social, and Governance risks in the management of large-scale project finance. BSP has already identified controversial industries that should be avoided, and sensitive industries that would require extra attention in its lending decision.

In recent years, BSP is dedicated to supporting the development of renewable energy and green business, such as promoting solar power equipment financing and issuing green bonds. BSP was awarded the Excellent Financial Service Award of Ministry of Economic Affairs’ Top Solar System Award in 2016, and became the only bank winning this award for four consecutive years. In 2019, BSP has won two awards at The Asset ESG Corporate Awards 2019 from the well-known international financial magazine The Asset.

In order to promote sustainable development, BSP held social welfare activities to expand participation and influence. For example, in cooperation with the Taiwan Environmental Information Association, BSP invited its employees and the public to participate in environmental protection activities and developed deeper understandings of environmental issues. In the future, BSP will continue to devote to sustainable development, implement sustainable finance, and step forward to realize the corporate vision of “achieving a beautiful life through finance and providing flexible solutions for customers.

Note: The Equator Principles (EPs) is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in projects and is primarily intended to provide a minimum standard for due diligence and monitoring to support responsible risk decision-making.

The Equator Principles website:  www.equator-principles.com

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