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Industry and Government Exchange Co-organized Forum to promote financial information related to climate change

Taiwan Institute for Sustainable Energy, Taiwan Stock Exchange, Working Group (TCFD), Gaoqi Energy Technology and Warwick Group held a joint climate conference on the morning of May 7th at the International Conference Center of the National Taiwan University Hospital.  Amb. Eugene Chien, Chairman of Taiwan Institute for Sustainable Energy, and Jane Lizhong, General Manager of the Taiwan Stock Exchange, kicked off.  This forum gathers about 200 corporate executives to analyze the development trend of TCFD and promote practical experience.

Figure 1. The TCFD Forum invited the Chairman of the Taiwan Institute for Sustainable Energy,Amb.Eugene Chien (left), the General Manager of the Taiwan Stock Exchange, Jane Lizhong (middle), and the representative of the TCFD Secretariat, Curtis Ravenel.

The chairman of Taiwan Institute for Sustainable Energy,Amb.Eugene Chien, said that the promotion of sustainable development has been the social welfare and image that everyone has recognized for more than ten years, and the expansion of the company's core capabilities and the enhancement of investment value. The disclosure of TCFD information has gradually become a new trend in the disclosure of sustainable information. Many companies in Taiwan have also received favorable comments.

Figure 2. Opening ceremony of the Chairman of the Taiwan Sustainable Energy Research Foundation. 

Amb.Eugene Chien and Jian Lizhong, general manager of the Taiwan Stock Exchange, said that the exchange has strengthened the non-financial information of listed companies with the recommendations of the climate-related financial disclosure team (TCFD) in the framework of the questionnaires and evaluation questionnaires.  Listed companies that disclose and enforce CSR reports must publish reports in accordance with GRI guidelines.

Figure 3. TCFD Panel Discussion is hosted by the Chairman of the Taiwan Institute for Sustainable Energy, Amb. Eugene Chien (first right). China Aviation Enterprise Security Room Tour John Associate (left from), Chunghwa Telecom CSR Lin Weijuan Senior Manager, Gao Qi Energy International Affairs Director Lin Jiaxuan, TCFD Secretariat Representative Curtis Ravenel, Cathay Financial Manager Gong Jinyuan Deputy General Manager share TCFD experience. 

 On behalf of Curtis Ravenel, TCFD Secretariat further shared the international challenge of facing climate change. In order to improve corporate information transparency, the Financial Stability Board (FSB) officially released climate-related financial disclosure proposals in June 2017, requiring companies to  In accordance with the proposed structure: governance, strategy, risk management and indicators and targets, understand the financial impact of climate change on operations, and provide relevant and reliable financial measurement information for stakeholders, TCFD guides international through flexible recommendations  Enterprises pay attention to the management of climate risks.  To date, TCFD has received support from as many as 650 companies worldwide, with a combined market capitalization of more than $9 trillion.

Gao Qi Energy Lin Longjie, deputy general manager, talked about the structure of TCFD and the challenges encountered in promoting the process in Taiwan.  Deputy General Manager Lin stressed that promoting sustainable development needs to ensure the support of the board of directors and the executive leadership team.  It is also necessary to comprehensively consider and integrate planning for sustainable development, corporate governance, finance and regulations.

The forum at the end of the forum was hosted and talked by Amb. Eugene Chien.  The TCFD Secretariat was invited to represent Curtis Ravenel, Gao Qi Energy International Affairs Director Lin Jialu and representatives from China Airlines, Cathay Financial Holdings and Chunghwa Telecom to share TCFD implementation and promotion experience. Amb. Eugene Chien affirmed the efforts made by Taiwanese companies on TCFD; with the joint efforts of industry, government, research and non-profit organizations, the financial information disclosure of TCFD climate change has gradually been valued by enterprises, and its results are worthy of expectation.