The First Bank, a subsidiary of First Financial Holding, has been committed to ESG. In February 2023, it adopted a "Financing Business Decarbonization Policy," halting new financing for coal-fired power plants and related projects. In September 2024, the policy was revised to align with Taiwan's 2050 net-zero goals and COP28, expanding restrictions on financing coal and unconventional oil and gas businesses to accelerate industry decarbonization and transition.
The First Bank's decarbonization policy applies to all branches. This includes loans to companies where coal or unconventional oil and gas activities make up a significant portion of revenue. No new loans will be issued in these sectors, and existing credit will gradually phase out by 2030. However, companies committed to decarbonization or transitioning to net-zero may be exempt from these restrictions.
In response to climate change, the First Financial joined the "Partnership for Carbon Accounting Financials (PCAF)" and the "Science-Based Targets Initiative (SBTi)" in 2022. After completing a carbon audit and setting SBT carbon reduction targets, approved in July 2024, First Bank aligned with its parent company's sustainable development strategy. It limits exposure to high-pollution industries, monitors these risks monthly, and supports renewable energy development through various green financing options, encouraging clients to adopt environmental goals and carbon reduction plans.