金融機構導入TNFD架構之落差分析

2021年，由來自金融機構、企業以及市場服務提供商等40名成員組成自然相關財務揭露小組（Taskforce on Nature-related Financial Disclosures，TNFD），旨在提供企業一套風險管理以及揭露框架，提供企業衡量與自然有關的風險後制定策略與應對措施，目標是達到將金流導向對自然有正向影響的活動之中，而作為金流中介者的金融機構扮演著重要的角色，金融機構可透過借貸與投資將資源投入環境友善的產業，進而達到TNFD之目標。對於台灣的金融機構來說，導入TNFD架構可以更完善原有的企業風險管理以及制定更全面的永續策略。金融機構的自然相關風險主要來自於投融資的企業，諸如石化、農林漁牧以及建築材料產業等較依賴自然資本的產業，自然資本的損失可能最終導致金融機構的資產價值下降、貸款無法回收等風險，而藉由對於自然相關風險的管理可以減少損失發生的可能性。金融監督管理委員會參考氣候相關財務揭露工作小組（Task Force on Climate-related Financial Disclosures，TCFD）發布之揭露框架，規定自2023年起銀行應於每年6月底前發布前一年度之氣候風險相關財務揭露，因此導入TCFD 架構對於台灣銀行來說已是強制性規範。本研究選擇一家已導入TNFD架構的玉山金控以及一家仍未導入TNFD架構之富邦金控為對象，藉由個案研究法探討玉山金控如何導入TNFD 架構以及透過落差分析，歸納出富邦金控在已導入TCFD架構之基礎上，導入TNFD架構所建議採取之行動方案，進而總結出台灣金融機構導入TNFD架構之發展策略建議以及可能遇到的挑戰，以供台灣金融機構在已導入TCFD且仍未導入TNFD架構之基礎上參考。

關鍵字

企業風險管理； TNFD ；自然相關風險；永續報告工具； ESG

並列摘要

In 2021, the Taskforce on Nature-related Financial Disclosures (TNFD) was formed, consisting of 40 members from financial institutions, corporations, and market service providers. The objective of TNFD is to provide companies with a risk management and disclosure framework to assess natural-related risks, develop strategies, and implement measures to have a positive impact on nature through financial flows. Financial institutions, as intermediaries in financial transactions, play a crucial role in achieving TNFD's goals by channeling resources through lending and investments into environmentally friendly industries. For financial institutions in Taiwan, adopting the TNFD framework can enhance existing enterprise risk management and develop comprehensive sustainability strategies. Natural-related risks for financial institutions primarily arise from businesses in sectors such as petrochemicals, agriculture, forestry, fisheries, and construction materials, which rely heavily on natural capital. Losses in natural capital can ultimately lead to a decline in asset value and the inability to recover loans, among other risks. Managing natural-related risks can reduce the likelihood of such losses. The Financial Supervisory Commission (FSC) has referred to the disclosure framework established by the Task Force on Climate-related Financial Disclosures (TCFD) and mandated that banks in Taiwan should disclose climate risk-related financial information by the end of June each year, starting from 2023. Therefore, the adoption of the TCFD framework has become a mandatory requirement for Taiwanese banks. This study focuses on E.SUN Financial Holdings, which has implemented the TNFD framework, and Fubon Financial Holdings, which has not. Through a case study approach and gap analysis, it explores how E.SUN Financial Holdings has implemented the TNFD framework and recommends action plans for Fubon Financial Holdings, building on its existing adoption of the TCFD framework. The study concludes with development strategy recommendations and potential challenges for Taiwanese financial institutions in adopting the TNFD framework, based on the foundation of implementing the TCFD framework.