Cathay Century Insurance, as a financial insurance company complying with the policy of the parent company Cathay FHC, has been implementing the ISO 20400 Sustainable Procurement Guidance since 2018 and became the world's first financial sector enterprise to receive this certification and conduct strict sustainable management of our suppliers. In response to the increasing emphasis on environmental and human rights issues, we have formulated the "Cathay Century Insurance Supplier CSR Guidelines", which incorporates ESG into the principles of supplier selection, such as local procurement, green procurement, and supplier labor health status, etc. We also regularly review our suppliers' ESG management status, hoping that the suppliers will fulfill their corporate social responsibility and work together to achieve a sustainable corporate value chain.
In compliance with the Cathay FHC Sustainable Procurement Policy new suppliers are required to conduct sustainability self-assessment management and commit to comply with Cathay’s Declaration of Sustainability Values. Cathay Century Insurance has also established a Sustainable Procurement Training Handbook and online sustainable procurement education and training, which will help new transacting suppliers to understand the correlations of procurement with economic, environmental, and social developments and its importance. Suppliers are required to be regularly evaluated for service, quality and other items. Partnership will be immediately suspended for any unqualified supplier, and the supplier in question will not be included as a qualified supplier until the problem has been improved.
