The only company in Taiwan to sign the “Water Finance Initiative”
TAIPEI , Oct. 11, 2024 /PRNewswire/ — During Climate Week in New York City, Sophia Chen, Chief Investment Officer of Cathay Financial Holdings, will participate in the iconic Global Biodiversity Summit contributed to the session “Valuing Natural Capital: Creating a Market for Nature” and shared his insights. Mr. Chen discussed the role of businesses in promoting naturally positive investments, emerging trends, and viable strategies. She was also invited by Ceres (Ceres Valuing Water Finance Initiative) as the sole representative of Taiwan to speak on “Building Corporate Climate Change Resilience through Water Resource Management.” This is also the third consecutive year that Cathay FHC has participated in Climate Week NYC, further demonstrating Cathay FHC’s global impact and Taiwan’s financial sector’s commitment to fostering green growth.
Cathay Financial Holdings participated in New York City Climate Week for the third time, showcasing its international influence and highlighting Taiwan’s financial sector’s commitment to green growth. (Credit: Cathay FHC)
In his speech, Chen cited a study by Bloomberg (1) that estimates that $166 billion is allocated to biodiversity conservation and restoration each year, and increased capital to support nature-positive initiatives. emphasized the urgent need for However, this is one-fifth of the $996 billion per year the report estimates will be needed by 2030. “To expand the biodiversity market, we need to invest more resources into sustainable supply chains, impact investing, and ecosystem building,” Chen said. He pointed out that of the 416 organizations in 51 countries that have adopted the TNFD (Task Force on Nature-Related Financial Disclosures), 45% are from Asia. Chen believes this shows that Asian companies will more naturally be keen to engage in positive initiatives once the global framework becomes clearer.
Recognizing the complexity of biodiversity and nature-related sectors, Mr. Chen suggested the need to establish a global biodiversity project platform. The platform will match diverse funding sources and nature projects across different risk profiles, while setting consistent standards, such as developing market rules for biodiversity credits, to increase market efficiency and stability. Masu. At the same time, more market participants need to see success stories. She highlighted the World Bank’s Rhino Bonds, which link bond yields to the success of rhino conservation efforts. This initiative has already contributed to an 8% increase in the black rhino population, creating a double win for both biodiversity and investors.
Throughout the discussion at New York City Climate Week, Chen expressed concern about the general lack of attention to biodiversity loss, a sentiment echoed by other panelists. To encourage the audience, the panelists adopted a positive and proactive attitude, highlighting the promising prospects of biodiversity. They support the creation of a global biodiversity framework, the rise of biodiversity credit schemes, the continued development of technologies such as AI, and numerous cross-border collaborations aimed at promoting nature-positive growth. He emphasized practical measures such as: The concept that ‘with great power comes great responsibility’ has emerged as a central theme, calling for public and private sectors to work together to build bigger, more impactful markets that integrate biodiversity. . In conclusion, Mr. Chen emphasized that “everyone can influence stakeholders, and the more involved we are, the more successful natural investment will be.”
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At the Ceres Water Resources Forum, Mr. Chen further emphasized the critical importance of water resources, water quality and stability for both human life and the global ecosystem. He shared that in addition to improving water efficiency in its operations, Cathay FHC and its subsidiaries are analyzing companies with high water risk in their investment and loan portfolios. This includes integrating water governance performance in industries such as semiconductors, power and food into Cathay’s water investment management and engagement strategy. Mr. Chen also praised Taiwan’s high-tech industry for proactively responding to water-related risks, and said water governance is moving from targeted projects to more comprehensive strategies to avoid greenwashing risks. encouraged widespread efforts in
Cathay FHC continues to lead with innovative financial models that naturally drive positive outcomes. Cathay FHC is the only Taiwanese financial institution to sign the Valuing Water Finance Initiative, investing and financing water resources sectors including water treatment, water supply and wastewater management. Cathay Life Insurance, one of the subsidiaries of Cathay FHC, is the first financial institution in Taiwan to join the Nature Action 100 and will collaborate with 190 international institutional investors in 2023 to expand We have partnered with 100 companies in the industry. impacting the loss of natural habitats and biodiversity; These initiatives have encouraged companies to take proactive steps to protect and restore natural ecosystems.
Cathay FHC has observed the rise of nature-themed asset management and insurance products, with promising blended finance models that properly value ecosystem services and attract more investment. Mr. Chen concluded by expressing hope for continued collaboration between the public and private sectors to achieve nature-friendly goals and overcome financial barriers.
Sophia Cheng, Chief Investment Officer of Cathay Financial Holdings, will be a panelist at the Global Biodiversity Summit held during New York Climate Week 2024, and will share her thoughts on companies that promote growth that is good for nature. We discussed leadership, emerging trends and actionable strategies. (Credit: Cathay FHC)
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