Sustainability

KGI Life: Leaders of Sustainability, Value Co-creation

In 2023, the global economy gradually laid concerns of the pandemic and Russian-Ukrainian conflict to rest, but issues such as high global inflation and geopolitical unease in the Middle-East pose challenges to global development while opening doors to sustainable transition business opportunities.
Climate change has become a global issue of concern. KGI Life collaborates with its financial holding parent company in promoting green business operations and supporting green policies. Last year, the business group jointly planned, purchased, and adopted green energy. In 2023, the business group reduced a total of 2,500 tons of carbon emissions and participated in the Taiwan Carbon Solution Exchange's (TCX) first batch carbon credit transaction. We not only strive to achieve net zero goals in alignment with our business group, but also work together to support regional revitalization teams nationwide. We offer support to youths returning to their hometown and look after the well-being of vulnerable children and the elderly. For 2023, KGI Life's employees devoted a total of 49,816 hours in volunteer work, an increase of 66% compared with the previous year, displaying the passion of our employees and our proactive actions in promoting regional revitalization. Moreover, the Company was rebranded as "KGI Life Insurance" in Jan. 1, 2024; with our parent company's renaming as "KGI Financial Holding" scheduled for Oct. 9, 2024. This will elevate our brand recognition and overall business performance, upholding our "One KGI" spirit. In the future, we will integrate our group's resources and accelerate growth amongst all subsidiaries, enhancing the "KGI Life" brand image in becoming the "most recommended and trustworthy life insurance company."

Aligning with International Standards and Further Upgrading Sustainable Governance

We have enhanced the integration of our corporate sustainability governance with our long-term strategies. We further upgraded the "Corporate Sustainability Development Committee" to a functional committee under the Board of Directors, reporting regularly to the Board of Directors to refine sustainable development strategies and display our commitment to sustainable development. We have aligned with international trends to ensure that our sustainability strategies are closely connected to our business operation, maximing performance synergy.
Climate change has become the focus of global attention. We have incorporated climate risks into our Risk Management Policy, and responded to international initiatives by dedicating our efforts to improving information transparency and strengthening climate resilience. Our grasp and management of climate change risks and opportunities received multiple recognitions from both domestic and oversea institutions, including "Green Leadership" from the Asia Responsible Enterprise Awards (AREA), and TSAA's "Best Climate Action Award."

Adopting Active Carbon Issue Actions in Working Toward a Net-zero Future

Carbon neutrality and net-zero emissions are already a global consensus. KGI Life supports the parent company's goal of net-zero emissions by 2045 by closely following the consensus on carbon reduction in Taiwan and overseas, focusing on "concrete action." We continue to step up environment-related carbon reduction actions, from initiatives, commitment, to practical applications. We introduced the international standard for carbon footprint ISO 14067, obtained the Ministry of Environment's Carbon Label certificate, and became one of the first financial institutions to purchase carbon credits from the Taiwan Carbon Solution Exchange. At the same time, we also referenced the Science-Based Target Initiative (SBTi) when planning carbon reduction targets and was recognized by CommonWealth Magazine as a company that aligns with the Paris Agreement in ensuring temperature rise under 1.5℃ . KGI Life was the only life insurance company to be meet this criteria, a true testament to our excellence in reducing our carbon reductions.
Green finance is an international trend. We focus on sustainability assessments in investment management, and prudently manage investments in high carbon emission industries. Moreover, we will gradually increase green investment, including green bonds and renewable energy, to guide the flow of funds into sustainable development industries. We also respond to the initiatives of international organizations related to green finance, and work with global partners to drive the development of green finance and create positive influence.

Financial Inclusion and Treating Customers Fairly to Fulfill Social Responsibilities

KGI Life has long embraced "treating customers as we would ourselves" and actively adopted the government's policies in expanding the scope of microinsurance coverage to truly achieve financial inclusion. We began providing multi-lingual real-person translation services to ensure that new immigrants and other disadvantaged groups receive fair insurance coverage, and are also able to experience KGI Life's thoughtful and warm service process, alignin with global financial inclusion and treating customers fairly efforts. We have expanded our social security net and displayed our CSR and sustainability values.
Since 2019, the Financial Supervisory Commision's (FSC) "Treating Customers Fairly Principles Evaluation" has ranked KGI as "excellent" for five consecutive years. We will continue to realize our treating customers fairly and social inclusion values by looking after our youths and the elderly, in addition to different social groups and industries, displaying our commitment to protecting policyholders.

Attaching Equal Importance to Digital Transformation and Information Security to Create a Resilient Future

Digital banking has taken the world by storm. We continue to develop digitalization and launch innovative FinTech services to enhance customer experience. Furthermore, we are strengthening information security management and building a tight information security net to ensure the security of customer data. This not only improves service efficiency, but also meets international expectations for the digital transformation and information security of financial institutions, thereby creating a more resilient future.
Looking towards the future, KGI Life will continue to pay attention to international trends in sustainable development and incorporate ESG into all aspects of life insurance operations. We will work with partners in all sectors to jointly create sustainable value, create a better future for Taiwan, and contribute to the sustainable development of the world.