Incorporating elements of the Transition Plan Taskforce framework was a key innovation in Cathay Financial's 2023 climate and nature report.

The Taiwan-based life insurer positioned this as a natural evolution of its sustainability reporting – a process which has involved its chief risk officer leading a cross-subsidiary group to collaborate on climate and nature risk management.

Cathay Financial Holdings set short-, medium-, and long-term climate targets "to ensure the credible implementation of its transition plan" and its 2023 report includes details on its implementation strategy and engagement on climate action climate action "across the value chain, industry and financial peers, as well as government and society".

On nature, it followed the 'LEAP' process recommended by the Task Force on Nature-related Financial Disclosures to identify biodiversity-sensitive areas where its operational sites are located. It also uses the ENCORE tool to assess the dependence and impact of sensitive industries on various natural capital assets and drivers, mapping out an environmental risk heatmap.

The life insurer commissioned PwC Taiwan to conduct assurance for nine "key climate-related performance indicators" in 2023, including "infrastructure/low-carbon/water resource investments and financing, the number of Equator Principles (EP) transactions, solar power plants, renewable energy engineering and equipment insurance [and] carbon emissions inventory of financial assets".