To assist in achieving the United Nations Sustainable Development Goals (SDGs), TCFHC implements green operations and reduces the impact of its business activities on the environment in 6 areas, which are “Energy Conservation and Carbon Reduction”, “Water Resources Management”, “Fuel Management”, “Waste Management and Circular Economy, “Green Building”, and “Green Initiatives”.
To expand the environmental sustainability efforts, TCFHC not only established Environmental Sustainability Taskforce under the TCFHC Sustainable Development Committee, TCB, which is the profit engine and subsidiary with the largest network, also created the Environmental Sustainability Section under the Administration Department in January 2022 to be responsible for TCFHC’s environmental sustainability tasks. In this way, the Group can enforce low carbon management and increase resource efficiency using a vertical integration approach to systematically mitigate or adapt to the effects of climate change.
Energy Conservation and Carbon Reduction
In recent years, global warming has not only changed the ecological environment but has also deeply affected people’s daily life. If we continue to ignore the imminent crisis and keep on with unstrained energy and resource consumption, global warming will become worse and cause irreversible damages to the ecosystem. In an attempt to slow down climate change, TCFHC actively manages GHG emissions and commits to participate in limiting global warming to 1.5°C. It has also set Science Based Targets (SBT) and commits to reducing its absolute emissions from its own operations (category 1 and 2) by 50.4% compared to the baseline year of 2021 by 2032. At the same time, it has set short, med-term, and long-term performance goals, puts in place rolling reviews, and improves energy-saving and carbon-reducing measures through performance review meetings every 6 months, in addition to tracking the implementation status every quarter, to realize its vision for a sustainable future.
GHG Emissions
To understand the GHG emissions of the whole Group, TCFHC completed the “ISO 14064-1 Greenhouse gas (GHG) Inventory” verification in 2022 for 334 domestic and foreign offices, including categories 1 to 5 emissions. Additionally, TCFHC participates in the Carbon Disclosure Project (CDP) every year and has introduced the “ISO 50001 Energy Management Systems” and “ISO 14001 Environmental Management Systems” to reduce GHG emissions continuously.
In 2023, in addition to implementing the “ISO 14064-1 Greenhouse gas (GHG) Inventory” continuously at all domestic and foreign offices, TCFHC adopts corresponding reduction strategies based on its carbon reduction goals. This includes increasing the proportion of renewable energy, promoting the “ISO 50001 Energy Management Systems” and “ISO 14001 Environmental Management Systems” continuously, and implementing energy-saving and carbon reduction measures to implement green operations.
The categories of "Scope 3" that the Group completes the inventory in 2022 include 11 categories which are the purchase of products and services, capital goods, fuel-and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, employee commuting, downstream transportation and distribution, use of sold products, end-of-life treatment of sold products, and downstream leased assets. The 5 categories in Scope 3 that have been verified by a third party include purchase of products and services, fuel- and energy-related activities, upstream transportation and distribution, waste generated in operations and waste generated in operations. In addition, a reduction target for business travel (domestic high-speed rail and domestic and overseas airways) is set in 2022, with 2022 as the base year, and an annual reduction of 3% from 2023 onwards.
In response to the impacts of global warming and climate change, TCFHC has actively extended its influence in the financial industry, strengthened its climate risk management, and continued to fulfill its environmental sustainability commitments. TCFHC has formulated an “Environmental Sustainability and Energy-Related Policy” as a basis for implementing various energy-saving and carbon-reduction programs. It also continues to introduce the international standard management systems of “ISO 50001 Energy Management System” and “ISO 14001 Environmental Management System”. Through the cycle of Plan-Do-Check-Act, TCFHC improves energy efficiency, promotes various energy-saving measures, effectively manages resource consumption, and achieves energy-saving, carbon reduction, water-saving, and waste reduction goals.
Results of Energy Conservation and Carbon Reduction
TCFHC achieves green procurement and energy conservation and carbon reduction through various green initiatives. Major projects in 2022 included “energy conservation and carbon reduction”, “replacing office equipment and refrigerators”, “replacing and reducing lighting fixtures”. At the same time, it also allows employees to understand how to effectively use new power equipment, enhance energy conservation and environmental protection awareness, and contribute to the carbon reduction of the earth.
A total of NT$15.3667 million is invested in energy conservation and carbon reduction projects in 2022 and save a total of 3,371,814 kWh in power consumption, reducing carbon emissions by about 1,716.25 tCO₂e, which is equivalent to the annual carbon absorption of 4.41 Da-an Forest ParksNote 1. It is estimated that about NT$12.1495 million can be saved and the average payback period is 1.26 years Note 2.
Renewable Energy
In line with the government's 2050 net-zero emission target and the promotion of energy transformation policies, 4 locations of TCB have completed the installation of solar panel power generation systems. The actual total power generation has reached 36,602 kWh, and the reduced carbon emissions are about 18.63 metric tons of CO₂e Note 3, which is equivalent to the annual carbon absorption of 0.05 Da-an Forest Park. With the construction of solar panel power generation systems in another 5 locations, a total of 9 locations have built solar panel power generation systems, with an annual power generation of about 300,000 kWh. In addition, we purchased 3.6 million kWh renewable energy for 3 years. All of these can reduce carbon emissions by a total of about 763.50 metric tons of CO₂e Note 3 each year, which is equivalent to the annual carbon absorption of 1.96 Da-an Forest Park to implement sustainable management.
Note 1: The annual carbon absorption of Da-an Forest Parks is 389 tCO₂e.
Note 2: Average payback period= project investment cost / cost expected to save.
Note 3: During the 2022 data verification period, the electricity carbon emission coef-ficient of the current year has not yet been announced, so 0.000509 (tCO₂e/kWh), the electricity carbon emission coefficient in 2021, is temporarily used to calculate.
Note 4: This refers to the electricity cost saved before and after the implementation of the energy saving and carbon reduction project (calculated at NT$ 3.4 to NT$4.5 for 1 kWh of electricity).
Fuel Management
In order to encourage employees to go green daily at the offices, in 2022, TCFHC continued to encourage them to use public transportations for commuting and business trips instead of automobiles and motorcycles or share rides with colleagues when dispatching official vehicles. The carbon emissions reduced from the use of public transportation for business needs was approximately 413.15 tCO₂e, which is equivalent to the annual carbon absorption of 1.06 Da-an Forest Parks. In addition, 817 physicals meetings or training sessions were replaced by video conferencing, resulting in a reduction of approximately 629.68 tCO₂e, which is equivalent to the annual carbon absorption of 1.62 Da-an Forest Parks. At the same time, 103 company cars with green marks or energy labels were leased to reduce carbon emissions.
Water Resources Management
Due to global climate change, water scarcity has become more and more severe. In response to the sustainability indicators of UN Sustainable Development Goal 6 for clean water and sanitation, TCB headquarters and IT department building passed the verification of the “ISO 14046 Water Footprint”. By conducting a water footprint impact analysis, TCB reduces the environmental damage caused by water consumption.
Waste Management and Circular Economy
To reduce the environmental impact and achieve resource sustainability, TCFHC has formulated waste management measures to promote circular economy through resource recycling, green procurement and rent instead of buying. In addition to practicing the 3R environmental protection policy, which is reduce, recycle, and reuse, TCFHC increases the benefits of waste recycling and reuse and purchases environmentally friendly products, green building materials, and recyclable products with environmental protection, energy-saving, and water efficiency labels approved by the government. TCFHC promotes resource recycling and reduces environmental impact, and the amount of green procurement reached NT$57.24 million in 2022.
In 2022, TCFHC generated approximately 452.61 tons of waste. In terms of resource recycling, approximately 153.83 tons of paper were recycled (equivalent to 3,692 trees), and about 62.43 Tons of other materials (such as plastic bottles, tin cans, and aluminum cans) were recycled. The amount of waste (recyclable and reusable) was approximately 212.26 tons, while the amount of waste (non-recyclable) was approximately 236.35 tons. These figures meet the reduction goals set by TCFHC. TCFHC also measured the monthly kitchen waste generated by each unit, and the total amount of kitchen waste produced was approximately 39.32 tons. The carbon emissions generated by kitchen waste management were about 0.28 tCO₂e. TCFHC continues to promote avoiding food waste among its employees to reduce producing food waste.
To enhance employees' concept of circular economy and resource sustainability, TCFHC continues to promote these concepts through relevant meetings and educational training. TCFHC also sends the sustainability newsletter, “ESG Classroom”, regularly by email to promote relevant knowledge such as resource recycling, waste reduction, and improving resource efficiency. In the future, TCFHC will not only continue to implement waste management measures, resource recycling and reuse, and green procurement measures, but also encourage employees to extend the life cycle of their items through holding second-hand markets. This will optimize resource efficiency and achieve a circular vision of reducing waste.
Green Building
The headquarters building of TCB was built based on the 4 scopes of green building, which are “Ecology, Energy Conservation, Waste Reduction, and Health”. It incorporates various environmentally friendly and energy-saving designs that comply with green buildings. TCB was awarded the EEWH Silver Label Certification by the Ministry of the Interior in 2018, and the certification is still valid now. In 2022, the employee training center, Qian-zhen Branch, Sin-shu Branch, and Chi-shan Branch of TCB newly obtained the certification, in addition to the previous certification obtained by the Headquarters and Jhong-he Branch, a total of 6 sites have obtained the Green Building Mark certification.
In response to the global net-zero trend, TCFHC is committed to energy conservation and carbon reduction. 23 offices have continued to pass the “ISO 50001 Energy Management Systems” and “ISO 14001 Environmental Management Systems” verifications, to achieve effective management of building energy and environment.
Green Initiatives
Earth Hour Lights Off
In 2022, TCFHC participated for the first time in the world’s largest voluntary carbon reduction movement, Earth Hour, and turned off unessential lights for 1 hour between 8:30pm and 9:30pm on March 26. 
Closing All Horizontal and Vertical Sings and Unessential Lights at Business Units
In order to expand the scope and benefit of energy conservation and carbon reduction, TCFHC started voluntarily turning all vertical/horizontal signs and unessential lights at business units in 2021. It is estimated that it can save about 1,681,450 kWh of electricity per year, reducing carbon emissions by approximately 855.86 tCO₂e, which is equivalent to the annual carbon absorption of 2.20 Da-an Forest Parks. In response to global climate change, the Company urges everyone to turn net zero into everyday activities in order to save the earth.
Better Environmental Education
Climate change is attracting lots of attention to issues such as water resources and marine ecosystems. TCFHC, in addition to arranging expert talks and courses for executives and new hires, sends the sustainability newsletter, “ESG Classroom”, by email to all employees regularly. A total of 20 sessions of environmental protection campaigns or educational training have been conducted, with 25 environmental sustainability newsletters distributed. The number of people reached through these efforts exceeds 240,384 per year, and over 26 hours per year were spent on these campaigns. The purpose is to use environmental education and campaigns to raise awareness of environmental sustainability in employees.
Promoting Low Carbon Diets
TCFHC started promoting “TCFHC Group Vegetarian Day” in 2019. The event encourages employees to carry their own utensils and reduce the use of plastic utensils in order to lighten the burden on the planet. In 2021, the Vegetarian Day was extended from the 1 to 2 days every month (the 1st and the 15th on the lunar calendar). In 2022, 36,763 people participated, resulting in a reduction of approximately 2.79 tCO₂e, which is equivalent to the annual carbon absorption of 0.01 Da-an Forest Park.
Electricity Saving Contest
In order to implement the goal of saving electricity, TCB formulated the "Encouragement Measures for Electricity Conservation Contest of Business Units". Aiming at the distribution and reduction targets of electricity consumption of all business units in Taiwan, each year TCB ranks its unit's electricity saving and the achievement rate of the annual reduction goal, and givesRewards ranging from NT$6,000 to NT$100,000. In 2022, domestic business units consume 26,285,268 KWh, a decrease of 2,317,143 KWh compared with 2021, saving electricity by 8.1%. In addition, the carbon emissions converted from electricity consumption reductions is 1,179 tCO₂e(Note), which is equivalent to the annual carbon absorption of 3.03 Da-an Forest Park.
Note: During the 2022 data verification period, the electricity carbon emission coefficient of the current year has not yet been announced, so 0.000509 (tCO₂e/degree), the electricity carbon emission coefficient in 2021, is temporarily used to calculate.
Green Office
The Green Office Policy of the Environmental Protection Administration of the Executive Yuan includes energy conservation, resource reduction, green procurement, environmental greening and beautification, and publicity initiatives. The Group has responded to a total of 28 items, driving employees to realize green office and implement green life in daily life.
Internal Carbon Pricing
In order to implement corporate carbon reduction management, TCFHC introduces Internal Carbon Pricing in 2022. Through the internalization of "external costs" of greenhouse gases, the cost of carbon emissions generated by operations are examined, and relevant costs will be included in future energy conservation. Project investment considerations, while actively improving energy efficiency, to further achieve energy conservation and carbon reduction management. TCFHC adopts the implicit carbon price method, and calculates the internal carbon price with reference to the energy-saving benefits of equipment purchases, purchase costs, and estimated service life. The average carbon price in 2022 ranges from NT$ 4,279 to NT$7,814 per ton.
Promotion of Natural Resource Conservation
To implement SDG4 Quality Education, SDG11 Sustainable Cities and Communities, SDG13 Climate Action, SDG15 Life on Land, and SDG17 Partnerships for the Goals, TCB actively promotes the conservation of natural ecologies and resources.
- Given the value of river resources, TCB continues to support the CommonWealth Magazine’s “Tamsui River Convention”, working together to contribute to the ecological environment of the rivers. In addition, TCB implements measures for resource recycling and waste reduction, strengthens the promotion of environmental sustainability concepts to suppliers, and increases the proportion of green procurement. TCB makes an effort to contribute to the sustainability of Taiwan’s rivers by making a commitment to plastic and waste reduction.
- Starting from 2020, TCB signed a 3-year contract with the Parks and Street Lights Office, Public Works Department, Taipei City Government to adopt 7 sidewalk trees from Ln. 451, Sec. 1, Ba-de Rd. to Dun-hua North Rd., and jointly promoted environmental protection.
- To bring about a win-win situation for the conservation of national lands, combine with green finance and promotion of environmental sustainability, TCB actively cooperates with State-owned Property Administration of the Ministry of Finance to promote the “national non-public use marginal land environmental protection adoption plan”. In March 2023, TCB officially partnered with Wetlands Taiwan, launching the "Ocean Leads the Way – Promotional Project on Wetland Conservation and Wise Utilization of Qingkunshen Fan-Shaped Salt Fields". This is to jointly maintain the wetland environment, monitor, maintain, and manage habitats, and promote the development of resource and sustainable communities through training local volunteers, promoting environmental education, low-carbon actions, and waste and resource recovery. TCB’s goal is to conserve the biodiversity of endangered species and substantially put environmental sustainability into action.
TCFHC Sustainability Week
- In order to implement the concept of environmental sustainability, respond to "Earth Day" and encourage employees to implement green actions such as energy conservation, carbon reduction, and net-zero green life, TCFHC held "Sustainability Week" in April 2023. Events included speeches, second-hand book exchanges, competitions to win green dots, green challenges and "Sustainability Day" outdoor activities, with a total of about 1,700 people participated. During this week, total carbon emission reduction of energy saving and carbon reduction, green office and paperless operations was about 4,703 kgCO₂e, which is equivalent to the daily carbon absorption of about 4.4 Da-an Forest Parks. On the "TCFHC Sustainability Day" on April 22nd, we went to Taoyuan Wudu Ecological Park to learn about organic farming, respond to green diet measures, and implement ecological sustainable development. Additionally, we went to Qingkunshen Fan-Shaped Salt Fields Wetland to provide habitat services, including oyster shell reef building and wetland cleaning to clean up 154 kg of garbage. We committed to protecting the pure land of the country, achieving the goal of conserving biodiversity, and promoting waste recycling activities such as oyster shell flower art, and promoting the sustainable development of resources and communities.
- The "Sustainability Week" activities implemented SDG2 Zero Hunger, SDG4 Quality Education, SDG11 Sustainable Cities and Communities, SDG12 Responsible Consumption and Production, SDG15 Life and Land, and SDG17 Partnerships for the Goals, and distributed 1,093,500 points of environmental protection green point instead of gifts or bonuses during the event in order to encourage employees to implement habits like "green consumption" and "green living" to reduce waste of resources and mitigate environmental impact.