China Development Financial (CDF, TWSE: 2883) held its Q3 2020 investor conference today. CDF accumulative profit for the first three quarters was NT$8.79 billion. Since the appointment of Stefano Paolo Bertamini as president of CDF, the company has been committed to internationalization, resource integration, and digital innovation, which are expected to accelerate growth and create shareholder value.
In addition, given the threat posed by climate change, in order to enable the financial industry to strengthen its resilience against the risks, CDF has taken the initiative to form “RICE” (Resilience of Industries on Climate Change Enhancement), an alliance across industry, the finance sector and academia, and has aligned with the "Green Finance Action Plan 2.0" proposed by the Financial Supervisory Commission (FSC).
China Life posted net profit of NT$14.84 billion after tax in Q1-Q3 2020 and it will continue to optimize its product structure and increase the VNB (value of new business) profit margin to 28%, up from 22% YoY.
CDIB Capital earned NT$508 million in Q3 2020, and accumulated losses for the first three quarters were reduced to NT$950 million due to a rebound in international investment appraisals. CDIB has continued to raise a number of thematic funds, with total asset value of NT$43.9 billion.
This year, for the first time, CDF was selected as a constituent of the newly released DJSI (Dow Jones Sustainability Indexes) World Index and the Emerging Markets Index, showing CDF’s performance in sustainable finance (responsible investment) and inclusive finance being widely recognized and strategy of integrating ESG issues into investment analysis and decision-making achieving positive results.
CDF believes that climate change risk management has practical business implications for financial industry. However, it is difficult for the financial industry to assess climate change risks, CDF therefore has joined forces with National Taiwan University (NTU), Chunghwa Telecom, and Ernst & Young to form the “RICE” that teams up industries, the financial sector, and academia to link up respective expertise.
“RICE” employs National Taiwan University’s climate change risk management databank platform, the most scientific and trusted of its kind in Taiwan. CDF and Ernst & Young will jointly utilize the platform to share their financial and industry experience with financial peers and companies in other industries, via Chunghwa Telecom’s advanced digital technology cloud. Companies can simply link their existing risk management frameworks to the platform to strengthen their climate change resilience and accelerate low-carbon transformation.