Message From the Chairman and President | Sustainable Shin Kong | Shin Kong Life Sustainability
Message From the Chairman and President
As we encounter the impacts and uncertainties brought by the global environment and society, the insurance industry faces a myriad of challenges, including technological innovation, resource allocation, shifting demographics, and regulatory authorities. However, within every crisis lies opportunity. We will seize every opportunity, continue to adjust our product structure and work towards convergence with IFRS17 and ICS and continue to enhance sustainability-related knowledge to our board members, senior executives, and employees through the operations of our Corporate Sustainability Committee in the future.
SKL is committed to creating corporate sustainable value for the environment, society, and stakeholders. SKL has implemented the sustainable value proposition of "Low Carbon, Innovation, and Common Good" and integrated it into its business strategies. In accordance with the FSC's "Green Finance Action Plan 3.0" policy, SKL has been promoting professional training in sustainable finance, climate risk management, and net-zero carbon emissions, and continues to strengthen sustainable finance and embed it in its daily operations. Through robust sustainability governance, we drive the effectiveness of our sustainable business practices and embark on our journey towards achieving net zero emissions. In 2023, we garnered significant recognition for our sustainable achievements. We were honored with seven accolades from TCSA, including Gold in Corporate Sustainability Report Award - Financial Services Sector, Most Prestigious Sustainability Awards-Top 100 Domestic Corporates - Comprehensive Performance of Enterprise Sustainability, and Best Performance of Specific Categories. Furthermore, our parent company SKFH, along with subsidiaries, participated in the Dow Jones Sustainability Indices (DJSI) evaluation and secured our position as a component of the DJSI World Index for the third consecutive year, ranking as the global second-best and Asia's top-performing insurance company. We are also proud to be included in the DJSI Emerging Markets Index this time. These accomplishments reflect our vision of becoming a benchmark enterprise for sustainable business and a trusted financial partner of the public.
Low Carbon
SKL emphasizes the impact of its business activities on the environment and climate, and seeks solutions to address climate change and the environment in order to strengthen climate resilience. Internally, we implement carbon pricing in accordance with our parent company SKFH's "Regulations Governing Greenhouse Gas Reduction and Carbon Pricing" to control the cost of carbon and carbon efficiency. SKL has introduced the TCFD management mechanism and actively promotes climate-related mitigation and adaptation actions, and reports the results of the implementation to the Board of Directors on a regular basis, with the TCFD report published for the first time and third-party verified by the Board of Directors in 2023. In addition, SKFH joined the Taiwan Net Zero Action Alliance and signed the Science-Based Carbon Reduction Initiative (SBTi) with its parent company, SKFH, in order to move towards a green and sustainable future with its investment and financing partners.
Innovation
SKL recognizes talent as vital asset for sustainable management. In 2023, SKL were honored with the "Workplace Wellbeing Leadership Award" and the "Talent Development Leadership Award" from TCSA, reaffirming our commitment to enhancing talent cultivation in digital finance and sustainable development. Our goal is to create a secure and dynamic work environment that promotes employee well-being and happiness. In addition, we go beyond legal requirements by providing exceptional benefits and subsidies for marriage and childbirth. When it comes to serving our customers, we leverage digital technologies and have developed easy and convenient financial services such as Policy Appraiser and customer data integration systems. Our service philosophy is rooted in the principles of fair treatment of customers and implementation of financial inclusion, as we commit to provide comprehensive insurance service.
Common Good
SKL is people-oriented and emphasizes connection and interaction with local communities. SKL has established three major public service pillars, promoted the "Corporate Volunteer" service program, and actively developed community involvement to extend its services to every corner of the society. SKL has established a system of sustainable investment, incorporating the ESG assessment mechanism into the operating procedures and methods of different investment businesses, and supporting financial products or green energy industries that are conducive to sustainable development. We support financial products and green energy industries that contribute to sustainable development, and we have begun to cooperate with our investment targets to maximize the impact of the financial industry. Furthermore, we have established robust risk management and information security mechanisms to minimize the possibility of operational disruptions or damage, we have continued to validate the ISO 22301 Business Continuity Management System (BCMS) international standard; and to ensure the integrity of the information security and personal data protection control mechanism, we have continued to validate the ISO 27001 information security standard and the BS 10012 personal data management system. These measures enable us to sustain our operations and safeguard the rights and interests of our customers and stakeholders.
Our light and heart are always with you
With six decades of deep-rooted experience, SKL believes that " Sticking to the status quo means falling behind: R&D is the only way forward ". SKL continues to seek new innovations and internationalization, and actively responds to the issues of concern to both internal and external stakeholders. Looking ahead, we will focus on the strategy of "Driving Transformation and Co-creating a New Future" and strive to pursue stable profits, maximize operational synergies, and create the greatest value for all stakeholders and fulfill our vision of sustainable corporate management by living up to our motto of "Our light and heart are always with you".