Taiwan Mobile Publishes Its First TCFD Report

October 06,2023

Taiwan Mobile has released its first "Task Force on Climate-Related Financial Disclosures Report" (referred to as TCFD report). In August this year, Taiwan Mobile became the first company in Asia to approve the SBTi review for a 2050 net zero pathway scenario with a target of limiting global warming to 1.5°C. The report rigorously calculated short, medium, and long-term financial impact and costs based on various scenarios from IPCC AR6 (Sixth Assessment Report) to address the challenges posed by global climate change. Taiwan Mobile also estimated that it will invest around NT$10 billion by 2030 in developing green energy, carbon fees, and carbon reduction initiatives to take significant strides towards its 2050 net-zero emissions goal.


In the face of worsening climate change, Taiwan Mobile employed the TCFD scientific framework to identify five major risks and five major opportunities. Leading the way in the green energy procurement landscape, Taiwan Mobile secured long-term power contracts with favorable green energy prices in 2020, which is set to help save at least NT$1.45 billion in power costs by 2040. Using its core information and communications technology (ICT) capabilities, Taiwan Mobile is accelerating industry-wide green transformation while seizing sustainable business opportunities. This includes optimizing power usage efficiency in cloud-based internet data centers through big data and commercializing energy-saving equipment as part of the "Green Giant Project." This initiative aids enterprises in "carbon accounting" and "energy management," projecting a reduction of NT$460 million in electricity expenses for corporate customers by 2040, maximizing benefits from low-carbon opportunities. In the future, Taiwan Mobile will also issue green bonds to invest in the visualization system for renewable energy, intelligent tracking, and algorithm-driven smart energy-saving equipment to concretely enhance energy efficiency and reduce carbon emissions.


Taiwan Mobile Chairman Daniel Tsai: A critical moment for climate change is marked by accelerating academic development of renewable energy to achieve net zero. Chairman Daniel Tsai emphasizes that humanity is facing a critical juncture in climate change. According to the latest assessment report from the United Nations IPCC AR6, if current emission trends do not change, the world will experience a temperature rise of over 1.5°C before 2040, severely affecting human survival, Tsai said. "We must expedite efforts to achieve net-zero, and the development of new clean energy sources is crucial." Taiwan Mobile fully supports Academia Sinica's "Net Zero Technology Research and Development Collaboration" to speed up academic efforts in the development of renewable energy, Tsai said.


The team has successfully extracted hydrogen from methane in natural gas through "decarbonized hydrogen" technology and has connected it to a small-scale experimental power generator for official power generation, he said. The team will continue to test and expand power generation capabilities, while also investing in research on geothermal and ocean energy, ushering in a new chapter for Taiwan's energy transition, he added.


Tsai further pointed out that through the TCFD report, all stakeholders can gain a concrete understanding of how Taiwan Mobile is managing risks and seizing opportunities in the face of climate change. In addition, the report also addressed sustainable goals, including SDG 7 (affordable and clean energy), SDG 9 (industry, innovation, and infrastructure), SDG 13 (climate action), and SDG 17 (partnerships for the goals).