Ambassador Eugene Chien Gave a Speech on the Social Responsibility of the Financial Services Industry at Taipei University
Fifty Finance and Business students attended the lecture
National Taipei University invited the Chairman of the Taiwan Institute for Sustainable Energy, Ambassador Eugene Chien to be a guest lecturer at the Finance course held in room 127 of the Public Affairs Collage of National Taipei University. Nearly 50 students from the department of Finance attended Ambassador Chien’s lecture on “Social Responsibility of the Financial Sector”.
Ambassador Eugene Chien lecturing on “Social Resonsibility of the Financial Services Industry”
In his lecture, Ambassador Chien explained how the impact of climate change is expanding. This in turn will create transitional risks for policy, technology, and the market in general for global enterprises. Therefore, business models will need to adjust in accordance to legal revisions and market preferences. For example, if the Legislative Yuan passed the greenhouse gas reduction management law, consumers would replace their gasoline and diesel vehicles for electric ones. Industries would change their commodity production process to meet the public’s green energy demand. Many investors have incorporated environmental performance into their investment considerations. Internationally renowned investment and asset management companies have successfully stated that they will not purchase fossil fuel funds. Corporations must set new sustainable development plans for diverse environmental risks.
Ambassador Chien stated that this energy transformation trend is a great opportunity for the industry to self-improve. The world’s top 100 companies embrace renewable energy currently lead in the reduction of carbon. Apple for example, announced it will generate 4 megawatts of renewable energy in 2020 and Google already runs completely on renewables. The use of sustainable energy in addition to the creation of employment opportunities adds value to brands and enhances financial performance. It is recommendable that corporations comprehensively assess immediate and long-term climate risks, and link them with business strategies to formulate effective risk management plans to meet the challenges brought about by climate change. Students are encouraged to use CSR reports to review companies’ performance in environmental, social, and corporate governance (ESG), determine the strengths and weaknesses of its development vision, and find a company fitting their career path.