Legislator Lin Chuyin asked the Financial Supervisory Commission to cooperate with other ministries as soon as possible, so as not to hinder the green transformation of enterprises to meet international standards.

(File photo/photo by reporter Wang Menglun)

[Reporter Wang Menglun/Taipei Report] Democratic Progressive Party Legislator Lin Chuyin said in an inquiry at the Finance Committee of the Legislative Yuan today (29th) that companies are very willing to cooperate with the green financial policy, but are waiting for the promotion of the "Climate Risk Database". However, the schedule of the Financial Supervisory Commission has been extended indefinitely. She asked the Financial Supervisory Commission to cooperate with other ministries and commissions as soon as possible, so as not to delay the green transformation of enterprises to meet international standards.

Huang Tianmu went to the Legislative Yuan today to give a special report and prepare for inquiries on "How to use financial power to guide the green transformation of funds and implement Taiwan's net zero emission goals".

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Lin Chuyin said that at the end of November last year (2021), the Financial Supervisory Commission announced to follow up the "climate-related financial disclosure (TCFD)" followed by various countries, and divided climate risk finance into entity risks and transformation risks for disclosure. The announced "green finance" key strategy intends to integrate corporate data, build an ESG data platform, a climate risk database, and a sustainable finance website to provide financial institutions with green credit reference.

She further pointed out that the "Climate Risk Database" announced by the FSC in the "Green Finance Action Plan 2.0" in 2020 is expected to be completed by the end of this year. , so that enterprises can not be in line with international standards in a timely manner.

In this regard, Lin Xiuming, chairman of the stock exchange, said that the stock exchange is already building an ESG database for listed counter companies, which is expected to be completed in June next year (2023).

Hu Zehua, director of the Comprehensive Planning Department of the Financial Management Commission, said that last year, they discussed with the National Science and Technology Council the existing database platform of the National Disaster Prevention Center, but their database data is not fine enough to meet the needs of the financial industry, and there is a budget for construction next year The climate risk database will continue to be discussed with the disaster prevention center.

Lin Chuyin gave an example. The EU gradually required TCFD disclosure in 2019, implemented the sustainable taxonomy in June 2020, and announced the sustainable financial platform in September of the same year, while Taiwan only began to require TCFD disclosure in November last year, which is three years behind the EU For a long time, the Financial Supervisory Commission and the Environmental Protection Agency should jointly develop and propose a timeline as soon as possible, so that companies can prepare for the risks of climate change transition as soon as possible.

Zhang Zijing, director of the Environmental Protection Agency, said that after the reorganization of the Environmental Protection Agency, the National Institute of Environmental Research will be established, and relevant ministries will be linked to the main responsible unit to establish a database for the financial industry to use in assessing risks.

Huang Tianmu, chairman of the Financial Management Commission, also promised that the information on green finance is a problem faced by all countries and will step up efforts to promote it.

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