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.
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
RSS