Governance
The Board of Directors serves as the highest decision-making authority for the Company’s climate risk management mechanism. It is responsible for approving the climate risk management policy and guiding, supervising, and managing the implementation of climate risk-related indicators and targets. The Board of Directors is tasked with incorporating climate risk factors into the Company’s risk appetite, strategies, and operational plans, and ultimately holds responsibility for ensuring the establishment and maintenance of an appropriate and effective climate risk management system.
Under the leadership of the Chairman, the Company has established the "Risk Management Committee," which is chaired by the Chairman. The Committee is responsible for executing major decisions made by the Board of Directors regarding climate risk management policies. It also establishes supervisory and reporting mechanisms and oversees the Company’s climate risk management operations.
Senior management is responsible for formulating climate risk management policies, procedures, and monitoring indicators, regularly reviewing the effectiveness and implementation of these policies, and designating relevant departments or task forces to execute climate-related initiatives. The Risk Management Division is tasked with establishing the Company’s climate risk management mechanism, conducting climate risk identification, measurement, monitoring, and reporting, implementing responsive measures under various scenarios, and reporting regularly or periodically to the Board of Directors and the Risk Management Committee.
Starting in 2023, SinoPac Securities’ Risk Management Division will provide semi-annual reports to the Risk Management Committee and the Board of Directors on the execution of climate change risk management. These reports will disclose an overview of climate change risks, including indicators for both physical risks and transition risks, and track the implementation status of climate-related risk indicators and targets.