E.Sun Financial Holding Co (玉山金控), the first signatory of the “Business Ambition for 1.5°C” among banks in Asia, has joined the Partnership for Carbon Accounting Financials.
By signing on to the partnership, E.Sun has committed to measuring and disclosing its financed greenhouse gas (GHG) emissions by following the Global GHG Accounting and Reporting Standard for the Financial Industry.
This is another step forward for E.Sun, which was the first financial institution in Asia to adopt the 1.5°C climate target.
Photo courtesy of E.Sun Financial Holding Co
Last year, E.Sun set medium and long-term climate goals, vowing to convert its proprietary domestic buildings into green buildings by 2027 and to derive 100 percent of its energy use from renewable sources at domestic business locations by 2030. It aims to achieve net-zero carbon emissions by 2050.
Through planned, systematic and disciplined actions, concrete measures will be taken and the greatest efforts will be made on the part of E.Sun to reduce its contribution to global warming, it said.
“The financial sector has the capability to engage with individuals and corporates on ESG [environmental, social and corporate governance],” said E.Sun Bank chairman Joseph Huang (黃男州), who leads the company’s ESG policy. “This is also the main reason why the financial sector has been expected to play a key role in the trends of ESG development and be given heavy responsibilities.”
E.Sun plays a leading role on climate change and environmental issues, the company said.
It was one of the first domestic financial institutions to be a signatory to the Equator Principles.
In 2017, E.Sun became the first Taiwanese signatory company of the Task Force on Climate-Related Financial Disclosures.
Last year, E.Sun published the first sustainability report in Taiwan that adopted the Sustainability Accounting Standards and the Global Reporting Initiative standards.
E.Sun pledged to achieve intermediate targets approved by the Science-Based Targets initiative and joined the carbon partnership, a collaboration of financial institutions worldwide aiming to enable harmonized assessments and disclosures of GHG emissions.
More than 190 banks and investors from six continents have committed to the Partnership for Carbon Accounting Financials.
Climate change is one of the most crucial issues in the world, E.Sun said, adding that it upholds its responsibility as a global corporate citizen by continuing to work and cooperate with like-minded partners to take concrete actions to mitigate climate change and ensure environmental sustainability as it seeks to build a safe and beautiful home for humankind with net-zero carbon emissions.
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said second-quarter revenue is expected to surpass the first quarter, which rose 30 percent year-on-year to NT$118.92 billion (US$3.71 billion). Revenue this quarter is likely to grow, as US clients have front-loaded orders ahead of US President Donald Trump’s planned tariffs on Taiwanese goods, Delta chairman Ping Cheng (鄭平) said at an earnings conference in Taipei, referring to the 90-day pause in tariff implementation Trump announced on April 9. While situations in the third and fourth quarters remain unclear, “We will not halt our long-term deployments and do not plan to
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
RSS