Governance

• Cathay Life Insurance Climate Governance Framework
  The Board of Directors has the ultimate responsibility for climate related risk management and is responsible for approving and supervising climate risk appetite and climate related m anagement structures and policies.
  • Risk Management Committee
    The Risk Management Committee under the Board of Directors convenes quarterly meetings, while the Risk Management Department periodically submits Own Risk and Solvency Assessment (ORSA) Report and work reports on risk m anagement to the Committee for review and reports to the Board of Directors.
  • Corporate Sustainability (CS) Team
    The Corporate Sustainability (CS) Team, led by the President of Cathay Life, has formulated animplementation plan of short -, medium -, and long term targets that incorporates climate factors into the overall strategies since 2018. The team meets on a quarte rly basis not only to keep track of the work progress of each working group and the implementation of metrics and targets , but also reports the implementation results to the Board of Directors biannually.
• Climate related education and training
  Cathay Life’s emphasis on climate issues is deeply embedded in our core corporate culture. Each year, we link internal and external resources and technologies with internal training courses, presentations, and exchange with external institutions, in order to raise the climate awareness of Cathay Life employees and strengthen climate risk management.
• Linking climate change metrics and targets to performance assessment mechanisms
  To align with international trends and facilitate effective climate governance, Cathay Life has initiated the Zero Carbon Operation Transformation Plan, incorporating operational carbon reduction rate and green energy usage rate into annual KPIs of the president and senior executives of related departments to enhance management. We also implement rolling adjustments to performance metrics and targets every year according to external trends and policy developments.