With regard to its environmental, social and governance impacts, CTBC Bank (中信銀行) voluntarily adopted the UN Principles for Responsible Banking (PRB) in 2019. In accordance with the PRB’s implementation requirements, the bank released its 2022 Responsible Banking Principles Report on Friday. CTBC Bank is the first bank in Taiwan to adopt the latest international impact analysis tools and undergo third-party assurance in disclosing its implementation goals in its areas of influence, along with its 2022 work results and major points of progress for last year.
The PRB was jointly launched by the UN Environment Program Finance Initiative (UNEP FI) and more than 30 international financial institutions in 2019 to serve as an important benchmark for the global financial industry’s implementation of the UN Sustainable Development Goals (SDGs) and the Paris Agreement. Banks around the world that already voluntarily comply with the PRB include two-thirds of Global Systemically Important Banks, and their total assets amount to US$90 trillion.
CTBC Bank is responding to the PRB’s calls for leveraging its economic impact to promote sustainability. The newly released report applies the impact analysis tools and self-disclosure reporting framework of the UNEP FI in responding to all kinds of international sustainability indicators. It has compiled Taiwanese government sustainable development statistics, research reports and other information to identify the on-the-ground sustainability needs of core operating locations and business locations, and further analyzes the potential impact of the bank’s business and services, taking climate change and inclusive finance as priority areas of influence to set long-term goals for promotion. While following the official guidelines of the UNEP FI, CTBC Bank uses the impact analysis tools it provides even more rigorously to ensure that its priority sustainability areas and key tasks more closely match the needs of global sustainability.
Photo courtesy of CTBC Bank Co
CTBC Bank actively promotes low-carbon operations and transition to help mitigate climate change. Following the science-based targets set by CTBC Financial Holding Co (中信金控), CTBC Bank has established action plans for medium-to-long-term carbon reduction targets in its areas of investment and financing, including commercial real estate, electricity generation projects and general industries. Compared with Taiwanese financial institutions that have passed the Science-Based Targets initiative (SBTi) review, CTBC Bank has included the listed counter stocks, bonds, ETFs and mutual funds of the medium and long-term credit and investment aspects of entire industries within its target range, giving it the most comprehensive range of assets for promoting reduced emissions. Furthermore — in addition to its core operational area — Taiwan, CTBC Bank’s range for implementing its action plans also includes its overseas branches and its subsidiaries in Japan, the US, Canada, Indonesia and the Philippines, giving its carbon-reduction efforts the widest coverage in Taiwan’s banking sector.
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
SECTOR LEADER: TSMC can increase capacity by as much as 20 percent or more in the advanced node part of the foundry market by 2030, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to lead its peers in the advanced 2-nanometer process technology, despite competition from Samsung Electronics Co and Intel Corp, TrendForce Corp analyst Joanne Chiao (喬安) said. TSMC’s sophisticated products and its large production scale are expected to allow the company to continue dominating the global 2-nanometer process market this year, Chiao said. The world’s largest contract chipmaker is scheduled to begin mass production of chips made on the 2-nanometer process in its Hsinchu fab in the second half of this year. It would also hold a ceremony on Monday next week to
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
NEXT GENERATION: The company also showcased automated machines, including a nursing robot called Nurabot, which is to enter service at a Taichung hospital this year Hon Hai Precision Industry Co (鴻海精密) expects server revenue to exceed its iPhone revenue within two years, with the possibility of achieving this goal as early as this year, chairman Young Liu (劉揚偉) said on Tuesday at Nvidia Corp’s annual technology conference in San Jose, California. AI would be the primary focus this year for the company, also known as Foxconn Technology Group (富士康科技集團), as rapidly advancing AI applications are driving up demand for AI servers, Liu said. The production and shipment of Nvidia’s GB200 chips and the anticipated launch of GB300 chips in the second half of the year would propel
RSS