The Asia Responsible Enterprise Awards (AREA) 2023 is pleased to honor 78 outstanding business leaders and enterprises for championing sustainable and responsible business practices. Presented by leading regional NGO Enterprise Asia, the AREA is the most reputable award recognition program recognizing organizational efforts in creating a culture of compassion, integrity, and in being socially responsible corporate citizens. The AREA serves as a badge of excellence to spur further innovation and best-practice for sharing about the organization and the world at large.
Fubon Life Insurance Co., Ltd. (Fubon Life) was among the recipients who were conferred with the Social Empowerment and Corporate Sustainability Reporting Awards. Established in 1987, Fubon Life is a leading brand in the life insurance industry in Taiwan. Guided by the brand spirit of “Be Positive, Enrich Lives,” the company is committed to providing high-quality insurance services, which have garnered support from over 5 million policyholders across Taiwan.
For its Social Empowerment Award, Fubon Life has taken the lead among Taiwanese corporations in partnering with The Society of Wilderness on the “River Waste Rapid Screening Survey Program”. Beginning in 2021, the company has embarked on a continuous river conservation effort for a minimum of five years, aiming to make steady progress by caring for at least one river each year.
Over the past two years, Fubon Life has mobilized 60 employees and citizens to participate in surveys of two rivers in Taiwan. The findings of these surveys have provided key insights, such as identifying that 80% of the garbage is concentrated in 10-20% of the river sections and that plastic products constitute 80% of the pollution.
These crucial insights have been acknowledged and supported by the government and serve as a reference for future actions.
The company has organized a series of seminars to foster dialogue between experts and citizens, distribute electronic river conservation whitepapers to over 140 universities, produce engaging environmental education videos that have attracted over 4 million viewers, and provide training to the company’s employees to become environmental ambassadors.
For its Corporate Sustainability Reporting Award, Fubon Financial Holding announced its sustainable vision blueprint for 2025, launching four major sustainable strategies: Decarbonization, Digitalization, Empowerment, and Connection. While pursuing steady profit growth, Fubon Life’s sustainable development path extends from internal governance, green operations, employee care, and talent development to external areas such as insurance services, social care, and environmental sustainability.
Leveraging the characteristics of the life insurance industry, the company integrated ESG practices with its core business, promoting diversified financial products and services, while continuing to deepen its local presence, implementing community care, and demonstrating social impact to strengthen its commitment to sustainable operations in the life insurance sector.
To ensure and strengthen the company’s sustainable operations, the ESG Implementation Taskforce presents an annual report to the Board of Directors at the beginning of each year, detailing the execution performance of ESG projects in the previous year and outlining important project plans for the current year. This report allows the Board to review the company’s sustainable operations and fulfillment of corporate social responsibility. Additionally, a mid-year report is presented to the Chairman, providing updates on the progress and planning of project execution, thereby tracking the management’s progress in promoting ESG initiatives.
Fubon Life engaged KPMG, an accounting firm, to perform a limited assurance engagement on the corporate sustainability report developed by the Company following GRI 2021 guidelines. The limited assurance report prepared in compliance with the guidelines for “assurance engagements other than audits or reviews of historical financial information” described in TWSAE3000 standards issued by Accounting Research and Development Foundation in Taiwan (stipulated in accordance with ISAE3000 standards).
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. Please visit https://www.enterpriseasia.org/ for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.