Cathay United Bank (CUB) Singapore Branch saw its long-term commitment to green finance bear fruit in the final quarter last year after it closed a green trade loan deal with Apeiron Bioenergy (Apeiron), a leading player in Singapore’s sustainable energy sector. The entire loan proceeds will support Apeiron’s procurement of used cooking oil (UCO) for the production of sustainable aviation fuel (SAF), thereby demonstrating CUB’s resolve to advance net zero sustainability.
As the transport hub of Southeast Asia and one of Asia’s major financial centers, Singapore has spared no effort in promoting the Singapore Sustainable Air Hub Blueprint as well as clean energy for the aviation industry. In comparison to traditional aviation fuel, SAF has the potential to reduce carbon dioxide emissions in the air transport industry by up to 80%, thus making energy management all the more efficient. As the first bank in Taiwan to sign the Equator Principles, CUB is deeply committed to the UN Sustainable Development Goals, and has assisted its customers in their low carbon transition through diverse financial services. As of the end of 2023, the balance of CUB’s sustainable loans to customers at home and abroad reached an astounding USD 1.99 billion.
Apeiron is actively developing various biofuel solutions. Headquartered in Singapore, Apeiron’s operations span across 10 countries, featuring a comprehensive value chain that includes storage, processing facilities, and biofuel refineries. Since 2017, Apeiron has supplied over 600 million litres of UCO for the production of biodiesel and renewable diesel, including SAFs, which has contributed to an estimated savings of 1.8 million tonnes of greenhouse gas emissions. In addition, Apeiron places a strong emphasis on traceability and adheres to stringent ecological and social criteria, thus ensuring traceability within the bioenergy sector. Apeiron’s commitment to excellence is reflected in its green trade loan with CUB: the green trade loan was structured according to the Green Loan Principles published by the Asia Pacific Loan Market Association, Loan Market Association, and Loan Syndications and Trading Association; and the company’s Green Financing Framework endorsed by Morningstar Sustainalytics, thereby ensuring proper management of the loan proceeds.
Photo: Cathay United Bank (CUB)
CUB is dedicated to creating a low-carbon economy, partnering with external institutions and actively engaging in carbon reduction initiatives. Maximizing the full extent of its core financial capabilities and influence, CUB has developed comprehensive climate finance solutions that offer customers green sustainable loans and support in building sustainable supply chains. Together, these efforts lower the threshold for customers seeking to reduce carbon emissions and assists them in developing net-zero businesses.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS