The central bank yesterday introduced a series of regulatory measures that respond to the predicted effects of climate change on the nation’s economy and financial system, as Taiwan seeks to achieve net zero carbon emissions by 2050.
The top monetary policymaker said it has mapped out a framework for advancing two main policy goals — bolstering Taiwan’s economic and financial resilience with regard to climate change risks, and supporting a smooth transition to a sustainable green economy.
The central bank said it is cooperating with the Financial Supervisory Commission to help create a favorable environment for green and sustainable investment, bolster its understanding of climate risks, and factor those risks into daily operations and foreign exchange reserve management.
Photo: Liao Chen-hui, Taipei Times
Specifically, the bank said it would factor in climate change risks when projecting national GDP growth and establish models for each economic sector to gain a better understanding of the risks involved.
Further, the central bank plans to include sustainable financial performance into its open market operations, and use the measure on small-amount repurchase operations as a reference when processing deposit renewals and transfers.
The central bank said it would also conduct research on climate change risks as part of a macro-prudential tool, and invite experts and academics to conduct a stress test of financial institutions based on climate change risks.
Additionally, the bank said it would consider purchasing green bonds when managing foreign exchange reserves, and promote participation in international discussions and activities regarding climate change issues.
The bank has taken part in discussions and online meetings with Southeast Asian central banks and the Network of Central Banks and Supervisors for Greening the Financial System, it said.
Taichung reported the steepest fall in completed home prices among the six special municipalities in the first quarter of this year, data compiled by Taiwan Realty Co (台灣房屋) showed yesterday. From January through last month, the average transaction price for completed homes in Taichung fell 8 percent from a year earlier to NT$299,000 (US$9,483) per ping (3.3m²), said Taiwan Realty, which compiled the data based on the government’s price registration platform. The decline could be attributed to many home buyers choosing relatively affordable used homes to live in themselves, instead of newly built homes in the city’s prime property market, Taiwan Realty
The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement. The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said. It marks the second consecutive year that Google has applied to increase its investment in Taiwan. Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and
JET JUICE: The war on Iran’s secondary effects have seen fuel prices skyrocket, knocking flight schedules down to earth in return as airlines struggle with costs Airline passengers should brace for more irritation in the next few months as carriers worldwide cancel flights and ground planes to cope with stratospheric increases in jet-fuel prices. Dutch flag carrier KLM is the latest company to cut its schedule, saying on Thursday that it would scrap 80 return flights at Amsterdam’s Schiphol Airport in the coming month. That puts it in the same league as United Airlines Holdings Inc, Deutsche Lufthansa AG and Cathay Pacific Airways Ltd, which have all pruned itineraries to mitigate costs. Global capacity for next month has been reduced by about 3 percentage points, with all
FORESEEABLE CONSEQUENCES: New technology always comes with new innovations by the iniquitous in exploiting users for financial gain or more nefarious ends Artificial intelligence (AI) “agents” say they can save users time and energy by automating tasks, but the growing power of systems such as OpenClaw is putting cybersecurity experts on edge. Powered by a wave of hype, OpenClaw today says it has more than three million users worldwide. The system allows users to create so-called agents, tools based on a large language model (LLM) such as OpenAI’s ChatGPT or Anthropic PBC’s Claude, that can carry out online tasks. “We’ve moved from an AI you could talk with via a chatbot to an agentic AI, which can take action... the threat and the risks are
RSS