Throughout his opening speech, Chairman Hong-Tu Tsai of Cathay FHC emphasised the growing environmental challenges confronted by companies in gentle of current international developments.
Jens Nielsen, CEO of WCF, shared the newest developments in the international net-zero transition and emphasised the significance of cross-sector collaboration.
The seventh Cathay Sustainable Finance and Climate Change Summit Strengthens Taiwan’s Function in the World Transition.
seventh Cathay Sustainable Finance and Climate Change Summit Strengthens Taiwan’s Function in the World Transition
— Cathay FHC Chairman Hong-Tu Tsai
TAIPEI , TAIWAN, July 5, 2023/EINPresswire.com/ — Cathay Financial Holdings (Cathay FHC) has constantly performed a number one function in selling local weather motion, setting a precedent for the trade in Taiwan and worldwide. As the inaugural international strategic companion of the World Climate Basis (WCF) in 2023, Cathay FHC prolonged a particular invitation to Jens Nielsen, the CEO of WCF, to take part in the seventh Cathay Sustainable Finance and Climate Change Summit, which occurred on July 4th in Taipei. The first focus of this occasion was to foster significant discussions on the newest worldwide local weather developments. Via collaborative efforts, the summit aimed to strengthen Taiwan’s popularity and affect in the ongoing transition in direction of attaining net-zero emissions and selling sustainable finance.
Organized in collaboration between Cathay FHC and the Taiwan Inventory Trade, the summit achieved a outstanding milestone in registrations this yr. The entire rely of registrations, encompassing each bodily and on-line contributors, reached an unprecedented 4,161, with illustration from 1,873 company organizations. Notably, amongst the contributors, listed corporations constituted round 75% of Taiwan’s inventory market worth and accounted for carbon emissions exceeding 50% of the Taiwan’s whole carbon output.
The summit commenced with a gap speech by Chairman Hong-Tu Tsai of Cathay FHC and a keynote deal with by Chairman Tien-Mu Huang of the Financial Supervisory Fee. A major spotlight of the occasion was the unique presence of Jens Nielsen, CEO of WCF, who delivered the first-ever speech in Asia, offering useful insights into the dynamics of worldwide local weather summits.
Throughout his opening speech, Chairman Hong-Tu Tsai of Cathay FHC emphasised the growing environmental challenges confronted by companies in gentle of current international developments. He pressured the significance of taking proactive motion, together with adherence to worldwide sustainability requirements, disclosure of nature-related monetary info, carbon tariffs, and carbon pricing, as these are all problems with worldwide concern. Chairman Tsai highlighted that the transition to net-zero is an extended and enduring race that requires dedication, braveness, innovation, and monetary help. Along with the implementation of the EU Carbon Border Adjustment Mechanism and the U.S. Clear Competitors Act, Asian nations, together with ASEAN member states, have been actively selling inexperienced economic system and sustainable trade classification requirements. It’s anticipated that stricter trade rules and carbon taxes can be carried out in Asia in the future. The chairman concluded by stating that Cathay FHC goals to encourage cross-sector dialogue, foster collaboration, align Taiwan with worldwide requirements, and showcase Taiwan’s efforts to the world.
The featured presentation of the summit centered round the theme of “Driving Collaboration for Climate Action.” Jens Nielsen, CEO of WCF, shared the newest developments in international net-zero transition and renewable vitality. He mentioned how the monetary trade can speed up the observe of inexperienced finance and transformational finance via public-private partnerships. He emphasised the growth of progressive funding options to handle local weather points and promote the international trade’s transition to net-zero. Nielsen highlighted that the world is presently at a vital juncture, dealing with unprecedented financial, well being, local weather, and environmental crises. These crises current survival challenges that demand pressing consideration and transformative actions from all sectors of society. Happily, the momentum for change is rising, as leaders worldwide acknowledge the compatibility between defending nature, addressing local weather change, and attaining international progress and prosperity. The chance to have interaction in discussions with trade leaders and decision-makers devoted to a net-zero future is vastly appreciated.
The second half of the summit targeted on the theme of “Industrial Transition Underneath Internet-Zero Insurance policies.” Official representatives, trade leaders, and worldwide advisors took turns to current their insights and views on numerous subjects, together with alternatives and challenges, biodiversity, nature-based adaptation, and extra.
Cathay FHC has been dedicated to local weather finance practices for a very long time, pioneering the area in the Taiwan monetary trade. It actively engages in numerous investor initiatives and holds the distinction of being a founding member of the Asia Investor Group on Climate Change (AIGCC). Moreover, it’s the first RE100 member in the Taiwanese monetary trade, demonstrating its dedication to attaining 100% renewable vitality utilization at its international operational areas by 2050. Cathay FHC’s constant inclusion in the Dow Jones Sustainability Indices (DJSI) World Index for 5 consecutive years and the DJSI Rising Markets Index for eight consecutive years solidifies its place as the longest-standing Taiwanese monetary establishment in the insurance coverage trade to be acknowledged in these indices.
Earlier this yr, Cathay FHC established a worldwide strategic partnership with WCF and has actively participated in worldwide local weather occasions, partaking in discussions on vital sustainability subjects, together with local weather change, resilience, and biodiversity. By aligning with international requirements, Cathay FHC goals to facilitate dialogue between private and non-private sectors past Taiwan, advancing the monetary trade’s function in selling sustainability and attaining net-zero targets throughout various sectors.
Andrew Chang
Cathay Financial Holdings
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Rajneesh Singh is a journalist at Asian News, specializing in entertainment, culture, international affairs, and financial technology. With a keen eye for the latest trends and developments, he delivers fresh, insightful perspectives to his audience. Rajneesh’s passion for storytelling and thorough reporting has established him as a trusted voice in the industry.
