SINGAPORE, Sept. 27, 2021 /PRNewswire/ -- Enterprise Asia, the organiser of the tenth Asia Responsible Enterprise Awards (AREA) 2021, is pleased to recognise 69 outstanding award recipients and who exemplified determination and perseverance despite the trying times. The AREA awardees have demonstrated relentless dedication to responsible business practices amidst the ongoing pandemic.
Widely regarded as the gold standard for CSR and sustainability practice, the AREA is the most prominent CSR recognition programme across Asia initiated by the region's leading NGO, Enterprise Asia. With over 500 winners from more than 19 countries since its launch, the AREA aims to recognise and honour Asian businesses and leaders for championing sustainable and responsible business practices. This year, an impressive number of 205 nominees from 16 countries were shortlisted in the final round of judging and only 69 were accorded as award recipients.
SinoPac Holdings' Award-Winning CSR Initiatives
Established in 2002, SinoPac Holdings comprises subsidiaries in financial services including banking, securities, investment trusts, leasing, and venture capital. The company is based in Taiwan and has presences in mainland China, Hong Kong, Macau, Vietnam, Thailand, Myanmar, Los Angeles, and London.
SinoPac Holdings has received 3 winnings for CSR programmes under the categories of Investment In People, Green Leadership, and Corporate Governance.
SinoPac Holdings Senior Executive Training & Development Program
The 'SinoPac Holdings Senior Executive Training & Development Program', which was awarded the Investment In People category, aimed to foster talent from the internal staff of SinoPac to serve as its future decision-makers and high and mid-level supervisors. Therefore, the targets for the training are selected from supervisors of the department-level and above in SinoPac Holdings and its subsidiaries who clearly meet the selection criteria. The training period is divided into 6 to 18 months, according to the target of training, which over time supervisors are given opportunities to continuously absorb new ideas, technologies, and skills from a diversified perspective, thereby, improving the competitiveness of the supervisor in training.
Since its launch in 2017, the 'SinoPac Holdings Senior Executive Training & Development Program' has already completed the training of 93 supervisors. The programme has received a positive response for its promotion of internal high-potential management talent within the company and its organisational climate to the overall profitability of financial holdings. The company earned NT$12.2 billion in profit from financial holdings in 2020 and NT$39 billion in net revenue which was a new record high. Additionally, it was shown that trainees who underwent the training programme had a 92.9% talent retention rate, the company's organisational climate has improved, and employee satisfaction has increased to as high as 88.4%.
Overall, the programme strengthens the evolution of management thinking through a complete management training structure which helps the management to improve their skills while also empowering them with real-world experience through project participation, ensuring a never-ending source of well-ordered and organised leaders in both basic and decision-making levels in SinoPac.
Building Solar Industry Chain Financial Ecosystem
The company's 'Building Solar Industry Chain Financial Ecosystem' project received an award for the Green Leadership category. Each subsidiary of SinoPac Holdings utilises the company's core business to establish a complete and professional portfolio of financial services for the green industry chain to facilitate the development of a green financial ecosystem. Based on the construction schedule of solar energy plants, Bank SinoPac and SinoPac Leasing provided loans to customers at all stages of the project. SinoPac Holdings focuses on 'Energy Generation, Energy Storage, Energy Saving' to create a green energy living environment as well as to satisfy the needs of both individuals and corporate customers.
As of the end of 2020, Bank SinoPac assisted a total of 4,833 domestic energy plants with a total installed capacity of 1,423MW, which is equivalent to the annual electricity consumption of 540,000 households (4 persons per household), and the total loan outstanding amount for solar energy generation equipment of domestic and overseas enterprises was approximately NT$39.71 billion. Bank SinoPac supports the development of the renewable energy industry to achieve the goal of the government's green energy policy for renewable energy to account for 20% of electricity generation by 2025, and the company hopes that the project will set an example for others to follow and liberalise the market for green energy trading.
Ethics and Decency, Fulfillment of A Beautiful Life Through Finance
SinoPac Holdings was awarded the Corporate Governance category for its 'Ethics and Decency, Fulfillment of A Beautiful Life Through Finance' programme. SinoPac Holdings was the first financial holding company in Taiwan to proactively take the initiative to conduct thorough inspections of corporate governance to effect continuous improvements. Collaborating with a credible third party and based on the results of the company's inspection, a two-year action plan was derived with the ultimate goal of setting a benchmark of excellence in the industry.
The project was started in 2017 with a series of improving measures being implemented and fully completed in July 2019. Continued efforts were devoted by the company to enhance its corporate governance and earned major achievements such as being the first private financial holding company in Taiwan to have a female chairman, establishing a sustainable development committee and ethical corporate management committee, developing the whistleblowing mechanism, and having all board directors, supervisors, and employees sign the integrity statement with a signing rate of 100%. In addition, the company has formulated concrete action plans and set clear targets up to the year 2025.
About Enterprise Asia
Enterprise Asia is a non-governmental organisation in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards 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 organisations 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. For further information, visit www.enterpriseasia.org.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards programme recognises 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 and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.
