Cathay Financial Holdings (2882) has held the "Cathay Sustainable Finance and Climate Change Summit Forum" for eight consecutive years. Today (3rd), 4,800 people came to participate, representing 82% of the Taiwan stock market value. In response to the increase in electricity consumption caused by the development of AI, the net-zero carbon emission goal may be more difficult to achieve. Li Changgeng, general manager of Cathay Financial Holdings, pointed out in an interview that the government and private sector are actively developing green electricity, and everyone must work together to achieve the goal, but the original net-zero The rapid increase in AI power consumption was not taken into account when planning the carbon emission roadmap, so the plan should keep pace with the times to test whether green electricity is sufficient.
Cai Hongtu, Chairman of Cathay Financial Holdings, said in the opening speech that the net-zero transformation is a protracted battle. "Energy" and "funds" are important keys to the net-zero transformation. Financial funds are a necessary condition for success, which requires financial ecosystem and industrial chain enterprises. Invest resources, and as major economies around the world continue to promote energy transformation measures, Taiwan must also respond in advance.
During an interview at the meeting, Li Changgeng, general manager of Cathay Financial Holdings, was asked about Google’s latest environmental report admitting that carbon emissions have increased by nearly 50% in the past five years due to AI, making it more difficult to achieve the 2030 net-zero carbon emissions target. He first bluntly stated that the government, Private enterprises are actively developing green electricity, and everyone should work together to achieve the goal; but on the other hand, the original net-zero carbon emission roadmap plan did not take into account the sharp increase in AI power consumption, so the plan may have to be combined with Keep up with the times and re-check whether the estimated power and green power are sufficient.
Li Changgeng said that in addition to electricity, carbon emission reduction is a bigger issue. In other words, not only must there be enough electricity, but there must also be enough green electricity, which is not only "sufficient" but also "stable." Because in the future, the proportion of renewable energy will become higher and higher. For Taiwan, the wind power in the Taiwan Strait is one of the best wind farms in the world, but it is mainly concentrated in winter. In summer, the wind is smaller, but it requires turning on the air conditioner and other equipment. There is a lot of electricity, so how to carry out intelligent deployment and grid resilience require efforts.
"The progress of science and technology and the progress of energy storage technology are very critical issues for the entire power structure of Taiwan!" Li Changgeng pointed out that if everyone is willing to pay attention to this aspect and invest energy, resources and mental efforts, it will gradually become less of a problem. . In his personal opinion, of course he will be worried about insufficient power, because industries need electricity, especially Taiwan's manufacturing industry, which needs to be strong, and the power needs to be sufficient and stable.
Li Changgeng optimistically concluded that through technological innovation and progress, the overall power generation and electricity consumption efficiency has been greatly improved. It may not be possible until 2050, or even in 2045 through technical expertise.
In the face of global climate challenges, Cathay Financial Holdings has pledged to use 100% renewable energy in its global operations in 2050 and promote three paths of energy transformation: "renewable energy investment and financing, renewable energy innovation cooperation, and core functional innovation services". By the end of 2023, the Group's renewable energy Energy usage has reached 17.95 million kilowatt-hours, solar installation capacity invested and financed is 1,504MW, and low-carbon investment and financing amount totaled NT$330.5 billion, demonstrating leadership in promoting energy transformation across industries and concrete results.
