With much excitement the Partnership for Biodiversity Accounting Financials (PBAF) announces it's 40th financial institution joining, Cathay Financial Holdings! Cathay Financial Holdings wil be joining as a supporter of the the partnership.
Cathay Financial Holdings on why joining PBAF is relevant for them: "First of all, climate, nature, and resources are closely interconnected. Biodiversity loss can be one of climate change's causes, but likewise, it can also be a result of climate change. By joining PBAF, Cathay FHC will be able to understand the impacts and dependencies of biodiversity in the Group's asset portfolio, and more systematically and quantitatively manage natural capital."
In the last months PBAF has been growing quickly, something that we are very grateful for. The PBAF team is excited to start working together with the growing number of financial institutions in achieving our goal of developing the 'PBAF Standard', supporting the harmonization and mainstreaming of biodiversity data and biodiversity impact and dependency assessment methodologies in the financial sector.
The PBAF team welcomes Cathay Financial Holdings to the partnership.
About Cathay FHC
Cathay FHC is one of the largest financial holding corporations in Taiwan in terms of asset scale currently. In 2021, Total assets exceeded NT$11 trillion and after-tax profits of NT$140.89 billion for the year. Cathay FHC has become aligned with the international sustainable finance framework through three engines "insurance, banking, and asset management, and has been selected for inclusion in the Dow Jones Sustainability Index (DJSI) for four consecutive years currently and as a constituent stock of its Emerging Markets Index for seven consecutive years. Cathay FHC is a sustainable and green finance pioneer in Taiwan's financial industry. For more information please visit: https://www.cathayholdings.com/holdings/intro/intro/about
About the Partnership for Biodiversity Accounting Financials (PBAF)
The Partnership for Biodiversity Accounting Financials (PBAF) develops the ‘PBAF Standard’. The PBAF Standard enables financial institutions to assess and disclose impact and dependencies on biodiversity of loans and investments. PBAF provides practical guidance to financial institutions on biodiversity impact and dependency assessment and defines what is needed in order for these assessments (either or not conducted by data providers) to deliver the right information to financial institutions. With this information financial institutions can effectively manage and report on biodiversity related risks and opportunities and contribute to the conservation and sustainable use of biodiversity. For more information please visit: https://pbafglobal.com/about-pbaf