CTBC Becomes First in Taiwan to Join PCAF – a Global Carbon Accounting Partnership

·2 min read

CTBC Holding, a Taipei-based holding company specializing in banking, securities, insurance, venture capital, and asset management, has officially signed on to the Partnership for Carbon Accounting Financials (PCAF), becoming Taiwan’s first financial institution to join the industry-led initiative.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201102005406/en/

CTBC becomes first in Taiwan to join PCAF – a global carbon accounting partnership (Photo: Business Wire)

The Oct. 8 move, which requires the disclosure of portfolio companies’ greenhouse gas emissions, was a natural next step for CTBC Holding, which has been adopting new inventory measures in recent years to assess the carbon emissions of its financial products as well as help its customers with low-carbon transformation.

"Urgent solutions are required to address the risks brought by climate change," CTBC Holding President Daniel Wu said, noting the PCAF’s importance given that emission calculations serve as the foundation on which enterprises set emission reduction goals.

The PCAF was launched to this end in Europe in 2015 and globally in 2019, assisting financial institutions in measuring and disclosing the greenhouse gas emissions generated by financial products such as loans and investments. Its methodology measures the greenhouse gas emissions of portfolio companies or individual investment assets, covering collateral, real estate loans, power generation project financing, and company equity or debt.

By signing on to the PCAF, CTBC Holding has committed to measuring and disclosing the greenhouse gas emissions of its portfolio companies within three years while learning and sharing reliable carbon accounting methods and experience. In addition, the Science Based Targets initiative has officially endorsed the PCAF’s methodology as a universal method for calculating and disclosing financial products’ greenhouse gas emissions.

With the addition of CTBC Holding, a total of 80 financial institutions worldwide have now joined the PCAF.

The Taiwanese company’s participation in the PCAF is the latest in a series of moves bolstering the sustainability of its operations, guided by the spirit of the U.N.’s Sustainable Development Goals and Paris Agreement. In the past two years alone, CTBC Holding and its subsidiaries have voluntarily joined a raft of international sustainability initiatives.

CTBC Holding said that by signing on to the PCAF and maintaining effective inventory of its products’ greenhouse gas emissions, it hopes to expand and use its influence for good.

Alongside these sustainability-focused efforts, the company has prioritized assisting facilitating the low-carbon transformation of clients, rapidly responding to stakeholder concerns, and fulfilling its social responsibilities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201102005406/en/

Contacts

Media inquiries
CTBC Bank Public Relations Department
David Li +886 2 3327-7777 ext. 6419