TII Organized the 2022 International Sustainability Training Program to Echo Net Zero Transition
Taiwan Insurance Institute (TII) cooperated with the British Office Taipei (BOT) for the first time to hold the 2022 International Sustainability Training Program for Talents of the Insurance Industry, and jointly hosted the opening ceremony on October 27th. The Program is aligned with the Green Finance Action Plan 3.0, promoted by the Financial Supervisory Commission (FSC), and aims to help the insurers foster sustainability talents and become kernel enablers to assist other industries in the low-carbon transition.
TII Chairman Hsien-Nung Kuei pointed out in the opening remarks that in May this year, the Bank of England published the results of the 2021 Climate Biennial Exploratory Scenario (CBES) for both banks and insurers for the first time, and indicated that projections made by banks and insurers suggest overall costs would be lowest with early and well-managed action to reduce greenhouse gas emission and so limit climate change. The FSC has announced that Sustainability Report will replace CSR Report, and listed companies with paid-in capital of more than 2 billion NTD should prepare and submit the Sustainability Report from 2023. Along with the ongoing plan to implement the evaluation of financial institutes’ sustainability, the FSC further launched the Green Finance Action Plan 3.0 in September to urge the financial industry to assist the net zero transition in a more aggressive manner. This Training Program is in line with the FSC’s policy, and meanwhile, enables the program participants to grasp the most up-to-date insurance technologies, and in turn, helps enhance the competitiveness of their affiliated institutes.
The British Office Taipei was represented by Mr. Shyam Desai, Head of Economic Cooperation and Growth, and Senior Climate Change and Energy Policy Officer Dr. Milan Chen at the Ceremony. As a global leading practitioner and benchmark in sustainable development, the U.K. has been taking aggressive action and promoting higher transparency. Mr. Desai in particular stressed the important role of the financial sector in the net zero transition with the strategy of “green finance and financing green.” With valuable experience in promoting sustainable development in the financial and insurance industries, experts form the U.K. would share their expertise with Taiwanese trainees through this Training Program.
According to TII, the Training Program would last for four months, including 48-hour basic and professional courses as well as a 3-day 2-night advanced workshop. 20 some experts and government officials would step-by-step guide the trainees by lectures to understand international sustainable regulations and development trends. In addition to case studies, on-site visits and workshop, the trainees would experience state-of-the-art green technologies, and be equipped with practical operation capabilities.
There are 31 trainees from 19 insurers and other financial institutes. TII expects these diverse courses would inspire the trainees to have innovative thinking, put what they have learned into practice, and become kernel talents for the development of sustainable finance in Taiwan's insurance industry.