In 2024, the world continues to grapple with the escalating impacts of climate change and rapidly shifting demographics. Extreme weather events—ranging from wildfires, typhoons, floods to droughts—are occurring with increased frequency, causing severe environmental degradation and significantly affecting lives, property,and economic activities.Simultaneously, Taiwan has entered a super-aged society, driving heightened demand for long-term care and medical protection. In the face of these challenges, we recognize the imperative to embed sustainability principles into our corporate strategy—translating them into concrete actions and goals to create shared value and contribute meaningfully to society.
At COP29, the UN ratified the operationalization of Article 6.4 of the Paris Agreement, establishing a regulated global carbon market to channel funds into developing countries and accelerate global decarbonization efforts. In terms of climate, we further enhanced our sustainable underwriting framework by introducing the Cathay Century Insurance Underwriting Policy for Coal and Unconventional Oil & Gas in 2024. To mitigate the operational and environmental risks associated with fossil fuels, we will no longer provide insurance for new projects in these sectors. Alongside phased transition targets, we aim to influence clients to commit to net-zero by 2050, adopt decarbonization strategies, and invest in renewable energy and low-carbon transformation projects.In terms of health, we continued the "Micro Heart Project" in 2024, offering volunteer services in long-term care institutions to support elderly residents. We also introduced Liability Insurance for Long-Term Care Facilities to reduce institutional risk exposure, enabling care providers to deliver services with greater peace of mind.In terms of empowerment, we enhanced professional capabilities through initiatives such as the “License Village” program and exam incentives for new employees. In 2024, employees passed 117 exam subjects, collectively earning 48 underwriting and claims-related certifications. We are committed to cultivating multi-disciplinary financial and insurance professionals, laying the foundation for a future-ready workforce. Our development model emphasizes practical learning through real-case involvement, helping employees sharpen their expertise in risk management and transformation competencies. This approach supports the long-term development of essential skills needed for sustainable business operations.
Cathay Century Insurance continues to align with the Cathay Group's sustainable vision, taking a leading role in launching various initiatives. Since 2017, we have been the first non-life insurer in Taiwan to independently adhere to the UN's Principles for Sustainable Insurance (PSI). Since 2021, Cathay Century Insurance has been the first non-life insurer in Taiwan to obtain dual certifications for both carbon labeling and carbon reduction labeling, supporting Taiwan's low-carbon transition. In 2024, we completed the renewal of the Property Insurance Service 2.0 Carbon Footprint Product Category Rules (CFP-PCR)—a shared framework for the industry—allowing greater flexibility in calculating carbon footprints across various future net-zero scenarios. We have implemented impactful ESG initiatives to position ourselves as an industry leader in sustainable insurance. In order to actively respond to various stakeholders, starting from 2023, we have re-created a corporate sustainability section. In response to issues of concern to stakeholders, we have combined the group's sustainability vision and strategic blueprint goals to launch a series of implementation projects and implement regular annual review and publish it in the corporate sustainability section to demonstrate the company's determination to be sustainable.
Amid the major challenges of climate change and demographic shifts, only continuous innovation and seizing opportunities can strengthen our resilience, enabling us to build a sustainable society through diverse actions, amplify our corporate influence, and collaborate with stakeholders to create a better future together.
