E.Sun Financial Holding Co (玉山金控) registered as an inaugural early adopter of the Task Force on Nature-related Financial Disclosures (TNFD) last year, alongside the world’s environmental leaders, the company said in a press release on Tuesday. The TNFD celebrated the announcement of the TNFD Early Adopters at the World Economic Forum annual meeting in Davos, Switzerland, on Tuesday.
By becoming a TNFD early adopter, E.Sun is to start making disclosures aligned with TNFD recommendations in its corporate reporting in the 2024 fiscal year, as the company sees nature-related issues as a strategic risk management issue, and believes TNFD recommendations and guidance would support it in identifying and assessing our nature-related dependencies, impacts, risks and opportunities, it said.
E.Sun released its “2021 Climate and Environmental Report” last year, which integrated the Task Force on Climate-related Financial Disclosures and TNFD Beta v.02 frameworks. The report has been recognized by the TNFD secretariat and is included as an example in the TNFD guidance for financial institutions, the company said.
Photo courtesy of E.Sun Financial Holding Co
Last year, E.Sun also released its 2022 Climate and Environmental Report, further improving disclosures toward final TNFD recommendations, it said.
E.Sun said it is committed to climate and nature-related issues, striving to achieve net zero carbon emissions by 2050 and become “nature positive.” That comes as the company supports conserving endangered species, such as sea turtles and Formosan black bears, combining the ideals with its financial business to provide green financial products and services, including green loans and sustainable bonds.
For instance, E.Sun has conducted the E.Sun Maravi Rice project for more than 10 years since starting the project in 2014, promoting organic and eco-friendly agricultural practices in rice farming. The company said it shares the Maravi rice with customers and employees, conveying its value of natural environment protection and sustainable development. E.Sun has also restored farmland habitats, improved indigenous communities’ well-being and facilitated the return of endangered endemic species in Taiwan, such as Kikuchi’s Minnow, while enhancing biodiversity, it said.
E.Sun upholds sustainability as a core value and actively promotes environmental, social and governance initiatives. The company also participates in international initiatives, becoming the first Taiwanese bank to receive validation of Science Based Targets in 2022, it said. E.Sun has also joined the RE100, the Partnership for Carbon Accounting Financials and the Partnership for Biodiversity Accounting Financials, it added.
Through innovative and professional financial products and services, E.Sun assists industries and customers in transitioning and directs capital flows toward environmental sustainability, with the aim of working together to create a beautiful home in harmony with nature, it said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) secured a record 70.2 percent share of the global foundry business in the second quarter, up from 67.6 percent the previous quarter, and continued widening its lead over second-placed Samsung Electronics Co, TrendForce Corp (集邦科技) said on Monday. TSMC posted US$30.24 billion in sales in the April-to-June period, up 18.5 percent from the previous quarter, driven by major smartphone customers entering their ramp-up cycle and robust demand for artificial intelligence chips, laptops and PCs, which boosted wafer shipments and average selling prices, TrendForce said in a report. Samsung’s sales also grew in the second quarter, up
LIMITED IMPACT: Investor confidence was likely sustained by its relatively small exposure to the Chinese market, as only less advanced chips are made in Nanjing Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) saw its stock price close steady yesterday in a sign that the loss of the validated end user (VEU) status for its Nanjing, China, fab should have a mild impact on the world’s biggest contract chipmaker financially and technologically. Media reports about the waiver loss sent TSMC down 1.29 percent during the early trading session yesterday, but the stock soon regained strength and ended at NT$1,160, unchanged from Tuesday. Investors’ confidence in TSMC was likely built on its relatively small exposure to the Chinese market, as Chinese customers contributed about 9 percent to TSMC’s revenue last
LOOPHOLES: The move is to end a break that was aiding foreign producers without any similar benefit for US manufacturers, the US Department of Commerce said US President Donald Trump’s administration would make it harder for Samsung Electronics Co and SK Hynix Inc to ship critical equipment to their chipmaking operations in China, dealing a potential blow to the companies’ production in the world’s largest semiconductor market. The US Department of Commerce in a notice published on Friday said that it was revoking waivers for Samsung and SK Hynix to use US technologies in their Chinese operations. The companies had been operating in China under regulations that allow them to import chipmaking equipment without applying for a new license each time. The move would revise what is known
UNCERTAINTY: A final ruling against the president’s tariffs would upend his trade deals and force the government to content with billions of dollars in refunds The legal fight over US President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade. A 7-4 decision by a panel of judges on Friday was a major setback for Trump, even as it gives both sides something to boast about. The majority upheld a May ruling by the Court of International Trade that the tariffs were illegal. However, the judges left the levies intact while the case proceeds, as Trump had requested, and suggested that any injunction could potentially be narrowed to apply
RSS