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.
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
Taiwan will prioritize the development of silicon photonics by taking advantage of its strength in the semiconductor industry to build another shield to protect the local economy, National Development Council (NDC) Minister Paul Liu (劉鏡清) said yesterday. Speaking at a meeting of the legislature’s Economics Committee, Liu said Taiwan already has the artificial intelligence (AI) industry as a shield, after the semiconductor industry, to safeguard the country, and is looking at new unique fields to build more economic shields. While Taiwan will further strengthen its existing shields, over the longer term, the country is determined to focus on such potential segments as
COLLABORATION: Given Taiwan’s key position in global supply chains, the US firm is discussing strategies with local partners and clients to deal with global uncertainties Advanced Micro Devices Inc (AMD) yesterday said it is meeting with local ecosystem partners, including Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), to discuss strategies, including long-term manufacturing, to navigate uncertainties such as US tariffs, as Taiwan occupies an important position in global supply chains. AMD chief executive officer Lisa Su (蘇姿丰) told reporters that Taiwan is an important part of the chip designer’s ecosystem and she is discussing with partners and customers in Taiwan to forge strong collaborations on different areas during this critical period. AMD has just become the first artificial-intelligence (AI) server chip customer of TSMC to utilize its advanced
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