Taipei-based financial services organisation, E.SUN Financial Holding Company, has become the latest firm to join the RE100 initiative, a global project that recognises the commitment of businesses to 100 per cent renewable electricity and zero carbon emissions.
E.SUN FHC also set its own milestone to use 100 per cent renewable energy across its global operations by 2040.
This comes after the organisation announced earlier this year that it would align its entire global operations with the goals of the 2021 United Nations Climate Change Conference (COP26) and phase out coal by 2035.
“It has been the responsibility and mission of E.SUN to protect this beautiful land since it was founded,” Magi Chen, president and chief sustainability officer at E.SUN FHC, said.
“Before being approved to become a member of RE100, E.SUN has dedicated years of effort to environmental sustainability, including becoming the largest buyer of renewable energy, completing an inventory of carbon emissions from the most crucial investment and loan positions of financial institutions, gradually changing policies and processes for investment and lending, and becoming the first financial institution in Taiwan and second in Asia to pass the review of the Science Based Targets Initiative (SBTi).
“Joining RE100 is an important milestone for E.SUN towards net zero emissions. In the future, we will continue to guide the net-zero transition of energy systems through financial resources and achieve the world’s common climate goals.”
E.SUN FHC also signalled its dedication to developing the renewable energy industry by financing projects for the construction of solar power stations, offshore wind farms, onshore wind farms, and geothermal energy plants.
“We are delighted to welcome E.SUN to RE100. By committing to 100 per cent renewable electricity by 2040, E.SUN joins over 300 of the world’s leading businesses committed to driving market change,” Sam Kimmins, head of RE100 at The Climate Group, said.
“This sends a powerful message that renewable electricity makes good business sense, and we encourage others to follow.”
The firm is also the largest issuer of green bonds in Taiwan and previously declared its target of becoming a net-zero bank by 2050.