Cathay Financial Holdings (Cathay FHC) hosted its eighth annual “Cathay Sustainable Finance and Climate Change Summit” with the theme “Net Zero Transition Competitiveness.” The event focused on the global climate finance development, energy transition, and industrial transformation, drawing around 4,800 attendees from various sectors, representing significant market value and carbon emissions in Taiwan.
Cathay FHC Chairman Hong-Tu Tsai opened the summit, emphasizing the company’s long-term commitment to climate change initiatives since 2017. Financial Supervisory Commission Vice Chairperson Yen-Liang Chen and Ministry of Economic Affairs Vice Minister Ching-Chang Lien also delivered opening remarks, highlighting the government’s support for sustainable finance and climate change measures. The summit featured prominent speakers such as Jens Nielsen, founder/CEO of the World Climate Foundation, and Sam Kimmins, Energy Director of the Climate Group, who provided insights on global climate finance trends and energy transition strategies.
With representatives covering 82% of Taiwan Stock Exchange’s market value and 54% of the nation’s carbon emissions, the strong corporate response showcased the private sector’s commitment to climate issues. Chairman Tsai highlighted the necessity of energy and capital for the net-zero transition and the role of Taiwan’s financial ecosystem. Jens Nielsen emphasized the importance of COP29 in promoting global low-carbon transitions. Other speakers, including Sherman H.M. Lin of the Taiwan Stock Exchange and Eliza Li of PwC, discussed carbon pricing, climate actions, and sustainability disclosures aligning with international standards. Sam Kimmins addressed Taiwan’s renewable energy development and the challenges of promoting Power Purchase Agreements (PPAs).
The panel discussions included experts from Taiwan Power Company, China Steel Corporation, and Delta Electronics, who shared strategies for achieving net-zero goals through public-private collaboration. Industry leaders discussed the challenges and opportunities in transitioning to a net-zero economy, with insights from KPMG, National Taiwan University, and ASUSTek Computer Inc. on achieving net-zero targets and industrial transformation.
Cathay FHC’s Commitment:
Cathay FHC is dedicated to “Sustainable Finance in Action,” aiming to use 100% renewable energy across its global operations by 2050. The company has made significant strides, including using 17.95 million kWh of renewable energy, investing in 1,504 MW of solar energy, and financing low-carbon initiatives worth NT$330.5 billion. These efforts underscore Cathay FHC’s leadership in promoting energy transition and advancing sustainability.
Conclusion:
The “Cathay Sustainable Finance and Climate Change Summit” highlighted the critical role of energy and capital in the net-zero transition. Through collaborative efforts between the financial sector, government, and industry, Cathay FHC continues to lead the way in sustainable finance, demonstrating a strong commitment to addressing global climate challenges and driving industrial transformation towards a sustainable future.
