Goals and Achievement in 2024Scope 1 and Scope 2
▶ Obtained assurance of greenhouse gas inventory. We set 2023 as the base year to establish a goal of reducing 3% of accumulated carbon emissions from 2024 to 2025 and reduced 447.093 tCO2e.
▶ In 2024, we obtained greenhouse gas independent limited assurance. The carbon emissions reduced 484.7975 tCO2e, compared to that in the previous year, around 6.12%.Scope 3
2024 was the second year that we obtained greenhouse gasindependent limited assurance report.
2025 GoalsScope 1 and Scope 2
We will continue the assurance of greenhouse gas inventory. With the base year of 2023, we aim to the goal of reducing 3% of accumulated carbon emissions from 2024 to 2025.Scope 3
To evaluate goals for carbon reduction and to estimate relevant impact.
The Company devotes to review operating activities and continues promoting measures of carbon reduction through technical assistance or management, including electronic procedures, energy-efficient solutions, development of green building with energy-efficient equipment, encouragement of low-carbon commuting to work, and green office. In addition, we investigate greenhouse gas emissions at all operating sites, improve environmental and energy management, and ensure the actual implementation of carbon reduction actions. The Company has obtained the certificate of ISO 14001 Environmental Management Systems for many years. This year, we passed verification of ISO 50001 Energy Management System for the first time.
To respond to international ESG trends, pursue corporate sustainable development, and support "Green Finance Action Plan 2.0" published by Financial Supervisory Commission which encouraged financial institutions to develop and innovate green finance products or services to satisfy the financial demands on the transition of carbon reduction and sustainable development pursued by enterprises and investors, Mercuries Life Insurance planned activities of electronic promotion to hugely enhance the utilization rate of electronic insurance policy. In 2024, we launched a promotional activity, "The Finishing Touch- Applying e-Policy". During the activity, any qualified policy holder applying e-policy for new contract, e-form, mobile claim, new account/ password reissuance with multiple identity verification, and specific automatic services (policy loan, withdrawal, transfer, purchase) is entitled to collect points and convert the points to lucky draw for themselves and sales representatives. Besides, we established an electronic promotion team consisting of HQ and front-line service personnel to answer policy holders' questions related to operating procedures timely, assist the promotion of e-services, and integrate customers' feedback and opinions from different channels. It ensures questions from customers can be answered and handled by service personnel timely, and customers' opinions can be used as suggestions for the optimization of e-services to enhance customer experience.
In 2024, the mobile insurance rate for new contracts was 97.92%. It reduced the use of around 4.89 million pieces of paper to actually lower the consumption of natural resources. The ratio of new personal insurance and travel insurance (TA) for e-policy application is increasing every year. In 2024, the number of new contracts was 164,937 cases. The number of e-policy was 86,849 cases, and the ratio of e-policy accounted 52.66% in 2024.
Power consumption at operating sites is the main source of carbon emissions in the life insurance industry. To lower the impact to the environment during the operating process and provide employees a healthier office environment, Mercuries Life Insurance reduces energy consumption and pollution to the environment through saving internal resources. Through replacing and washing equipment as well as using energy-efficient devices, we reduce carbon emissions, including routine main air conditioner washing and replacement of old air-conditioning equipment to enhance air-conditioning efficiency. Meanwhile, we replace lamps to energy-efficient lamps at new workplace to develop different methods for energy saving by technology and management in parallel as well as to reduce excessive use of environmental resources. From 2022, the Company expanded the scope of greenhouse gas inventory to operating sites all over Taiwan and completed assurance. We adopted 2023 as the base year and aim to achieve a goal of total carbon emission reduction from 2024 to 2025 in 3% to make the greatest effort to the development of environmental sustainability. (Please refer to 7.1 Scope 1 and 2 greenhouse gas inventory CPA's limited assurance report.)
Our corporate HQ building in Neihu obtained "green building label". While Wen-Hsin Building in Taichung used green construction materials, like adoption of double glazing and insulation film, to effectively block out heat sources and reduce energy costs. Besides, it adopted lower construction rate. The 2 buildings are currently installed solar panel of around 30,000W. In 2024, it generated around 15,000 kWh. All the power generate is for our internal use and is used on electricity for public facilities.
Meanwhile, in 2024, we obtained certificate of ISO 50001 Energy Management Systems for the first time. Through professional evaluation, we plan to use important energy equipment more efficiently to reduce electricity consumption and reduce carbon emissions by the Company.
In 2024, the Company completed greenhouse gas inventory at all the operating sites in Taiwan. The organizational boundary of the inventory adopted the operational control approach. Because subsidiaries in the consolidated statements are excluded, the data of Scope 1 and Scope 2 greenhouse gas emissions only refers to the Company. To respond to climate change and fulfill the goal of energy saving and carbon reduction, we established and implemented many energy-efficient measures. Compared to the inventory result for 2022, carbon emissions reduced 1,696 tons, reduced around 17.32%. Moreover, through evaluation and quantified review, we kept enhancing utilization efficiency of energy equipment. We also established goals for energy saving to reduce electricity consumption effectively.
In terms of improving energy consumption in lighting, we set the goal of total electricity consumption saved in the whole year in 2% (around 30,652.6 kWh). Among them, the energy-efficient rate of the lighting project was 1% (around 15,284 kWh). We carried out monitoring management according to energy performance indicators and energy baseline. By the end of December, the accumulated electricity-saving rate was 2%. Air-conditioning system is set an energy-efficient rate of 2% (around 31,245 kWh), and a monitoring and management mechanism is in place to ensure the achievement of the goal on schedule by the end of the year. We also set an energy-efficient rate of 0.4% (around 6,854 kWh) for water dispenser energy improvement project. Through the same monitoring mechanism above, we ensure the achievement of annual electricity-saving rate of 2%. Above measures are used to fully implement energy management, enhance energy efficiency, and support the goals of sustainable development. (Please refer to "7.8 Climate-Related Information for TWSE/TPEx Listed Companies" in the Report for the goals and implementation of greenhouse gas reduction.)
In addition, superior to the legal regulations, we conducted voluntary verification on investment and financing for Scope 3 and completed the third-party assurance.
Followed the carbon emission calculation methodology published by the Partnership for Carbon Accounting Financials (PCAF) and adopted Bloomberg's ESG database, carbon emissions in different countries published by EDGAR and Climatewatch, CMoney industrial average carbon emission, and data from IMF and World Bank, the Company investigated carbon emissions in Scope 3 investment and financing portfolio. In 2024, Scope 3 investment and financing portfolio greenhouse gas emissions (including LULUCF) was 2,611,129.09 tons carbon dioxide equivalent with a coverage rate of 92.52%. and 2.56 in weighted average data quality. It has been conducted limited assurance by PwC according to International Standard on Assurance Engagements (ISAE)3000 "Assurance Engagements Other than Audits or Reviews of Historical Financial Information" and ISAE 3410 "Assurance Engagements on Greenhouse Gas Statements".
The Company established a goal of reducing 1% of water consumption every year. Through the installation of water conservation equipment and continuous promotion on water conservation measures, we enhance awareness of water conservation among employees. In 2024, the total water consumption was 81,300 m3; compared to 2023, it reduced around 13,800 m3, around 14.52% of water consumption.
Although waste generated during operations in the life insurance industry is relatively simple in only livelihood waste and general resource recycling and causes limited impact to the environment, the Company still tries the best to implement the policy of resource reutilization during the operations by sorting out garbage and recycling resources. We recycled paper products for reutilization, centrally recycled waste batteries, disposed decoration waste through qualified companies, reused potted plants at the workplace by either extending life cycle or entrusting manufacturers to collected back for disposal in order to ensure waste reaching the greatest benefits.
