– Accelerating the transition to net carbon emissions: Industry leaders, government and academia unite to embrace the zero carbon era
How should Taiwan implement its transition to net zero emissions? The financial sector and the Ministry of Economic Affairs have proposed ways forward
TAIPEI, March 30, 2023/PRNewswire/ — Business Today, a Taiwan-based financial magazine focused on the connection between ESG and industry, hosted the 3rd Taiwan International Summit on ESG and Sustainability on March 21. The event, titled “Towards the Zero Carbon Era”, brought together leaders from industry, government and academia to find solutions to move Taiwan towards zero carbon. Chairwoman Tsai Ing-wen also delivered a speech at the event.
Andy Liang, editor of Business Today, noted in his welcome speech: “In the new era of carbon pricing, there is no going back. Surely, these projects are not just a government thing. Apart from the government, it is something that no one in this room can ignore.”
Arun Majumdar, dean of Stanford’s Doerr School of Sustainability, shared his academic analysis that the probability of extreme weather events in summer has increased by a factor of 10 to 100 globally. Although various countries and regions agree on the urgency of going carbon-free, no one is sure how to achieve it.
In finance, E.SUN Commercial Bank President Joseph N.C. Huang said that finance creates civilization and serves as a key driver for sustainability. He also enables the bank to change its long-term goals and strategies, such as developing sustainable finance to help companies better manage their ESG risks going forward.
On how to improve water use, Jason Huang, Country Director for Stantec Consulting Services in Taiwan, discussed six initiatives to ensure the resiliency and sustainability of water-related urban projects, including the development of a circular system, increasing resilience through water reclamation, coexistence with water, maintaining water security in food production, applying smart technological solutions to water-related challenges, and facilitating access to water for all.
Taiwan’s most recognizable eco-friendly structure is Agora Garden (also known as Tao Zhu Yin Yuan), built by Core Pacific Group. It is the first and only residential building in the world to be included in CNN’s list of 9 most influential buildings. With 246% green coverage, the project can absorb up to 130 tons of carbon per year and use the extra rain to water the surrounding trees, making it a low-carbon tower. Its founder and president, Sheen Ching-Jing, stated, “We don’t build homes from the point of view of a developer trying to recycle quickly, because we believe that we all have a responsibility to protect the environment.”
Vincent Y.S. Chen, senior vice president and chief financial officer of Chunghwa Telecom, explained the Taiwanese operator’s goals to halve its carbon emissions by 2030, move to 100% renewable energy by 2040, and achieve net zero carbon emissions by 2050. According to In Chunghwa Telecom’s internal carbon pricing system, the carbon fee is $50 per tonne, one of the highest in the global telecom market, and represents Chunghwa Telecom’s determination to stay ahead.
Deloitte’s head of corporate social responsibility in Taiwan, Joe Chen, explained that the Taiwanese economy is dominated by small and medium-sized enterprises (SMEs). Setting universal standards within the same industry and changing service models or business strategies across industries can help companies collaborate to solve problems in the future.
Semisils Applied Materials President Arthur Ho explained: “There is no such thing as waste in the world, only misused resources.” The company recycles residual silicon mortar from semiconductors into silicon dioxide and hydrogen and builds a silicon circular economy ecosystem where hydrogen can be supplied to factories for power generation, while silicon dioxide is transformed into raw materials for sale. Net zero carbon emissions can be achieved by harnessing waste.
Many people see carbon as an expense, but these companies offer a very practical example of how to approach the zero carbon era by turning carbon into an asset.
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