Enhancing Energy Efficiency

To continuously enhance the environmental benefits of low carbon operations, the Bank of Taiwan has established the Energy-saving Promotion Task Force. Energy conservation managers are in charge of promoting reinforced energy management, develop smart data centers, enhance equipment efficiency, implement energy-saving measures, and expand educational outreach and more. In addition, the Bank of Taiwan also regularly convenes Energy-saving Promotion Task Force meetings to review its implementation status, effectiveness, and energy-saving volumes of its respective units based on annual energy-saving goals. Improvement measures are then proposed to attain the sustainable goals of improving energy use efficiency and reducing GHG emissions.

Energy Consumption in 2024

Energy Conservation and Carbon Reduction Actions in 2024

Increasing the Percentage of Renewable Energy

The Bank of Taiwan began procurement of renewable energy in October 2022, and purchases at least 2.5 million kWh of green electricity annually. In March 2023, the energy supply was transferred to the head office and Wuchang Building. In addition, the procurement scale was expanded in 2024, and at least 4 million kWh of electricity is supplied to the IT Department building each year starting in May 2024. In 2023, renewable energy use totaled 2.31 million 313 kWh, accounting for approximately 5.85% of the Bank's (including overseas) electricity consumption, indicating a cumulative reduction of 1,144 tons of CO2e¹. In 2024, renewable energy use totaled 4.317,633 kWh, accounting for approximately 11.07% of the Bank's (including overseas) electricity consumption, and cumulatively reducing 2,047 tons of CO2e².

¹The electricity emission factor for 2023 was 0.495 kg CO2e/kWh, which was announced by the Energy Administration, Ministry of Economic Affairs in 2022.

²The electricity emission factor for 2024 was 0.474 kg CO2e/kWh, which was announced by the Energy Administration, Ministry of Economic Affairs in 2024.

Installation of Photovoltaics

As the global energy situation becomes increasingly severe, in order to promote the development of alternative energy sources and increase the proportion of renewable energy sources to increase the types of low-carbon energy sources, we inventoried and evaluated self-owned buildings in accordance with government policies and set up suitable space for solar power generation equipment for tenants through open tender. After excluding factors such as buildings being too old and planning for demolition and reconstruction, the Bank of Taiwan has leased and installed solar power equipment on the rooftops of nine branches, including Taichung, Xinying, Fengshan, Zhongzheng, Zhubei, Nantou, Taibao, Lingya, and Xinsheng, in addition to the Baoching Building, which we jointly held with the National Development Council. The total installed device capacity reached 1,242.25 kW.

GHG Reduction

The Bank of Taiwan uses the ISO 14064-1:2018 Greenhouse gases Part 1: Specification with guidance at the organization level to verify GHG emissions in our operations. The inventory is verified by a third-party verification institution and certificates have been obtained. To monitor the actual effectiveness of energy conservation and carbon reduction, we will continue to inventory GHG emissions on annual basis. In 2024, GHG emissions (Scope 1 + Scope 2) from all operating locations of the Bank were reduced by 3.91% compared to 2023.

GHG Emissions in 2024

Note:

1.The inventory boundary includes overseas operations.

2.Scope 2 emissions are market-based emissions.

3.Scope 3 GHG inventory categories included "Upstream transportation and distribution," "Employee commuting," "Business travel," "Disposal and treatment of waste generated in operations," "Purchased goods and services," "Fuel- and energy-related activities," "Use of sold products," "End-of-life treatment of sold products," and "Customer and visitor transportation."

Water resource consumption

All of our water consumption is from domestic water use due to the industry we are in, and wastewater is also domestic wastewater from business units. To verify the stability of water supply, we verified that all of Taiwan has Low - Medium risk (1-2) and is not a water stress area according to the Aqueduct Water Risk Atlas of the World Resources Institute (WRI). Hence, the Bank of Taiwan does not have concerns about access to water resources.

Statistics of Water Consumption in the Past Three Years

Note:

1.The data for 2022 and 2023 are restated based on third-party verified inventory data. The inventory data in 2024 has been verified by a third party.

2.The scope of water consumption statistics for each year is different. In 2022, only domestic sites were included, and overseas sites have been included since 2023.

Paper Consumption

Total paper consumption in 2024 was 282,302 kg, slightly higher compared to 2023 due to the COVID-19 pandemic subsiding and visits to business units. The number of loan cases increased and paper consumption rose by approximately 1.4% compared with the previous year. The Bank of Taiwan implemented a series of electronic document operations, including implementing the e-loan system and expanding of Internet banking, mobile banking, e-statements, and electronic notifications, to reduce paper consumption and carbon emissions. The Bank also implemented an online document approval system, online conferences, and online education and training. Paper consumption is recorded each month as the basis for managing paper reduction.

Waste Management

The Bank of Taiwan sorts waste into general domestic waste and recyclables, so that waste can be recycled and reused.