Taipei Fubon Commercial Bank (台北富邦銀行) yesterday said it would make regular purchases of solar power from Taiwan Cogeneration Corp’s (TCC, 台灣汽電共生) green power subsidiary every year for 20 years in an effort to reduce the bank’s carbon emissions.
The bank signed a 20-year supply contract with green power provider TCC Green Energy Corp (台汽電綠能) to purchase 700,000 units of solar power per year, it said.
The bank did not disclose the rate of power per unit, citing a confidentiality agreement with TCC Green Energy, but the nation’s latest market rates for solar power generated from large-scale solar farms range between NT$3.7 to NT$4.3 per unit, similar to the feed-in tariff rates set by the government, Taiwan Power Co’s (台電) data showed.
The use of solar power is expected to reduce the bank’s carbon emissions by 350 tonnes per year, the same amount that Daan Forest Park (大安森林公園) absorbs in one year, the bank said.
Separately, Standard Chartered Bank (Taiwan) Ltd (渣打國際商業銀行) on Thursday announced that it is offering a sustainability-linked loan (SLL) of US$2 billion to Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s top chipmaker.
The loan is the largest SLL in Taiwan, as well the largest provided by Standard Charted worldwide, the bank said, adding that it was also the first SLL taken by TSMC.
Standard Chartered Taiwan and its counterparts in Hong Kong and Singapore would jointly provide the loan, it said.
Standard Chartered Taiwan said it would track the chipmaker’s performance over the next two years on metrics such as its greenhouse gas reductions, water pollutants, air pollutants, and renewable energy increases.
The bank could cut the lending rates if TSMC records a good performance on these factors, it said.
JPMorgan Chase & Co chief executive officer Jamie Dimon on Tuesday quipped that his company is likely to outlast the Chinese Communist Party (CCP), while reiterating the bank’s commitment to the country in wide-ranging comments that also touched on Taiwan, free speech and former US president Donald Trump. “We hope to be there [in China] for a long time,” Dimon told a panel discussion at the Boston College Chief Executives Club. Relaying a “joke” he made during a recent visit to Hong Kong, he said “The communist party is celebrating its 100th year. So is JPMorgan. And I’ll make you a
PharmaEssentia Corp (藥華醫藥) shares have jumped 80.56 percent since the company obtained a US polycythemia vera (PV) drug license for its new interferon drug Besremi (ropeginterferon alfa-2b-njft) on Nov. 12. Shares on Friday closed at NT$195 in Taipei trading, up from the stock’s closing price of NT$108 on Nov. 12. PV is a rare, chronic and life-threatening blood cancer linked to a stem cell mutation in the bone marrow that results in an overproduction of blood cells and places sufferers at risk of having a blood clot, stroke or heart attack. PharmaEssentia is preparing to make Besremi available in the US in the
The Kaohsiung City Government yesterday said it would impose a property hoarding tax as it is seeking to contain speculation in the real-estate market, calling recent price increases “abnormal.” The announcement came in support of the Ministry of Finance’s call for local governments to levy a high tax rate on people with more than one property. Ministry officials on Tuesday discussed strategies to rein in speculation with the nation’s six special municipalities, as well as the Hsinchu city and county governments. About 84,000 out of 1.06 million housing units in Kaohsiung are not residential property, the city government said in a
BOOST EXPECTED: Higher market prices would offset effects of the industry’s transition to more climate-friendly production methods, a company official said China Steel Corp (CSC, 中鋼) expects steel demand to increase on the back of governments around the world subsidizing infrastructure construction amid a stabilizing COVID-19 pandemic, CSC chairman Wong Chao-tung (翁朝棟) told an investors’ meeting yesterday. “After getting through the hard times, I foresee at least one year, very possibly two years, of strong steel market,” Wong said. Calling a dip in steel prices a “short respite for the market,” Wong said that it would likely bounce back early next year on the back of mild winter temperatures around the world allowing construction activity. Despite COVID-19 spikes in some regions and increased