TCFD

With regard to the governance of climate related risks and opportunities, Cathay Century Insurance has established the “Cathay Century Insurance ESG and Climate Risk Management Approaches” and developed the related risk control mechanism for the purpose of low carbon and sustainable management, with the Board of Directors and the management as the highest management bodies for climate related issues starting from two issues of identifying opportunities for sustainable business development and climate related risks appetite.
For the promotion of internal climate change management, the President leads the Corporate Sustainability (CS) Team and the Chief Risk Officer leads the TCFD Team to conduct management. The climate actions are developed by the cross-unit collaboration of the TCFD Project Team and major members of the Corporate Sustainability (CS) Team. By leveraging the expertise and control of each department, we strengthen the effectiveness of the Company’s overall natural-related risk management.

Operation of the Board of Directors’ Climate Change Governance

In order to enable the Board of Directors to effectively monitor the implementation status of climate related issues and the achievement of goals, Cathay Century Insurance has established a climate linked performance settings. In the annual salary review, any salary adjustment will be linked to the performance. If the performance of the individual has improved environmental indicators such as climate change resilience, it will be reflected in the performance of the individual, which will in turn affect the rate of salary adjustment. In addition, in order to ensure that the senior management is knowledgeable about climate change, Cathay Century Insurance has arranged for its directors and supervisors to attend external training on climate change risks, including two education and training sessions in 2022 on "Net Zero Emissions Response" and "Climate Change and Net Zero Emissions Policy”.