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TDCC Receives Carbon Neutrality Certificate Advancing Towards Net-Zero Goal by 2030

2024/12/25

The Taiwan Depository & Clearing Corporation (TDCC) announced on December 23 that it has successfully obtained ISO 14068-1 Carbon Neutrality Verification from the British Standards Institution (BSI), becoming the first depository institution worldwide to achieve this standard. The company is committed to achieving net-zero emissions by 2030 and has taken the lead in supporting the Indigenous Carbon Sink Conservation Project, paving the way for sustainable finance in Taiwan.

TDCC Chairman Bing-Huei Lin stated that to realize net-zero emissions, the company proactively adopted carbon neutrality standards in 2023. It has set short-, medium-, and long-term carbon reduction pathways aligned with a 1.5°C warming limit, based on science-based targets. Using 2022 as the baseline year, TDCC aims to reduce greenhouse gas emissions by 98.4% by 2030, supplemented by acquiring natural carbon sinks to achieve net-zero emissions.

TDCC has long been dedicated to sustainability. Since 2018, it has implemented ISO 14064-1 greenhouse gas inventories and developed tailored carbon reduction plans based on its operational characteristics, executing them progressively. By achieving carbon neutrality in 2023, TDCC has undertaken various initiatives, including energy-saving measures, using renewable energy, and encouraging employees to create green offices. Residual emissions were offset through the purchase of high-quality carbon credits from the Carbon Exchange, covering activities such as reforestation, mangrove restoration, providing access to safe drinking water in underprivileged regions, and developing renewable energy in Southeast and South Asia. These efforts align with 10 of the United Nations' Sustainable Development Goals (SDGs).

Natural carbon sinks have been identified as a critical strategy under the National Development Council’s "2050 Net-Zero Emissions" roadmap. In line with its carbon neutrality policies, TDCC signed a Memorandum of Understanding (MOU) with the Taiwan Successive Indigenous Township Mayors Association (TSITMA) in November to promote the Indigenous Carbon Sink Conservation Project. This initiative aims to acquire natural carbon sinks, accelerating the net-zero process while raising awareness within the financial industry about natural carbon sinks and Indigenous forests. It also fosters the continued development of carbon removal and carbon trading.

Climate change is a pressing global challenge. As a key institution in Taiwan's financial market infrastructure, TDCC is committed to advancing diverse sustainable financial actions, driving low-carbon innovative services, and collaborating with domestic and international partners. Together, it strives to fulfill the vision of "promoting sustainable inclusion, achieving collective well-being, and fostering shared prosperity for society."

TDCC has successfully obtained ISO 14068-1 Carbon Neutrality Verification from the British Standards Institution (BSI)