Technology

“8th Annual Cathay Sustainable Finance and Climate Change Summit Sets New Records and Strategies for Net Zero Transition”

Published

5 months ago

July 29, 2024

Global and Domestic Experts Unveil Solutions: Harnessing Energy and Capital for a Sustainable Future

TAIPEI, July 29, 2024 /PRNewswire/ — Cathay Financial Holdings (Cathay FHC) has been hosting the “Cathay Sustainable Finance and Climate Change Summit” for eight consecutive years. This year’s (2024) theme, “Net Zero Transition Competitiveness,” focuses on the development of global climate finance, energy transition, and industrial transformation. The summit brought together prominent figures from government, industry, and academia, both domestic and international, to develop business strategies and solutions for corporate sustainability. The event was opened by Cathay FHC’s Chairman Hong-Tu Tsai, with Financial Supervisory Commission Vice Chairperson Yen-Liang Chen and Ministry of Economic Affairs Vice Minister Ching-Chang Lien delivering opening remarks. The summit also invited World Climate Foundation (WCF) founder/CEO Jens Nielsen and Climate Group Energy Director Sam Kimmins to Taiwan as keynote speakers. The event set a new participation record with approximately 4,800 attendees, representing 82% of the market value of the Taiwan Stock Exchange and 54% of Taiwan’s carbon emissions, indicating a strong corporate response to climate issues.

In his opening remarks, Chairman Tsai highlighted that since Cathay FHC first held the “Climate Change Roundtable Forum” in 2017, Cathay FHC has been striving to exert greater influence. Over the past eight years, Cathay FHC has consistently brought significant international trends into the event, covering topics from climate change to water resources, biodiversity, and natural capital, aiming to serve as a dialogue platform for industry, government, and academia to foster exchanges among all sectors. “Energy and capital are key to net-zero transition, necessitating investments from the financial ecosystem and industrial chain companies while leveraging Taiwan’s significant influence on the global stage,” stated Tsai. Taiwan’s government has also proposed the establishment of the National Climate Change Response Committee, underscoring its strong commitment to climate change countermeasures and elevating it to a significant priority. As a pioneering leader in sustainable finance, Cathay FHC has earned recognition both domestically and internationally for its initiatives in sustainable finance and climate action. Cathay FHC remains committed to supporting Taiwan through practical actions, collaborating with various sectors to drive successful industrial transformation.

Ministry of Economic Affairs Vice Minister Ching-Chang Lien, in his remarks, highlighted Cathay FHC’s proactive sustainability measures, including being the first to provide offshore wind power financing, purchasing REC-bundled green electricity, and hosting climate events for eight consecutive years. He also emphasized the expectation for enterprises to further implement ESG practices. Financial Supervisory Commission Deputy Chairman Yen-Liang Chen mentioned that green finance has entered a new phase as green supply chain finance, and Taiwan has robust industries that support green finance initiatives. The government has also approved insurance funds to invest NT$17.66 billion (approximately US$544.89 million) in green energy power plants. Additionally, there are 185 issues of sustainability-related bonds and 46 ESG-related funds. With financial and institutional support, Taiwan takes lead in responding to climate change.

The first half of the summit focused on “Sustainable Finance.” WCF founder/CEO Jens Nielsen delivered a keynote on “Grasping Global Climate Finance Development Trends,” emphasizing the significance of the upcoming COP29, known as the “Finance COP,” in addressing climate change and biodiversity loss. He noted that financial mechanisms are the driving engine in achieving climate goals, aiming to promote a global low-carbon transition and ensure that capital flows align with climate change adaptation and development paths. Taiwan Stock Exchange Chairman and CEO Sherman H.M. Lin analyzed trends in carbon pricing and climate actions. National Taipei University Professor of Finance and Cooperative Management Chi-Jui Huang explored the current status and trends of Taiwan’s sustainable finance development from an academic perspective. PwC Sustainability Service Company Chairman Eliza Li discussed the relevant financial disclosures that Taiwanese enterprises should implement to align with the IFRS Sustainability Disclosure Standards developed by the International Sustainability Standards Board (ISSB) from an accounting practice perspective.

As a participant in COP official and side events for three consecutive years, and the only Taiwanese financial institution to host a forum in the blue zone, Cathay FHC centered this year’s panel session theme on “Moving Towards COP 29: Accelerating Green Finance for Net-Zero Future.” The discussion included WCF founder/CEO Jens Nielsen, Energy Administration Ministry of Economic Affairs Director General Cheng-Wei Yu, Taiwan Institute for Sustainable Energy Chairman Eugene Chien, and Cathay Life Insurance President Shan-Chi Liu.

The second half of the summit focused on “Energy Transition,” which started with Climate Group Energy Director Sam Kimmins. He analyzed international energy transition trends and Taiwan’s renewable energy development, highlighting the challenges Taiwan faces in promoting Power Purchase Agreements (PPAs). Kimmins suggested that group PPAs for green electricity can enhance small businesses’ access to renewable energy. The comprehensive discussion on “Towards Net Zero: Strategic Planning for Energy Transition” featured Taiwan Institute of Economic Research Chairman Zhong-Shu Wu, Sam Kimmins, Taiwan Power.

Company Chairman Wen-Sheng Tseng, China Steel Corporation Acting Chairman Shyi-Chin Wang, and Delta Electronics Chief Sustainability Officer and Spokesperson Jesse Chou. They discussed promoting public-private collaboration and strategies for achieving net-zero economic goals. The “Industry Transformation Challenges and Opportunities in a Net Zero Economy” panel featured KPMG Sustainability Consulting Managing Director Niven Huang, The Center for Energy and Environmental Research Director, Je-Liang Liou, National Taiwan University Professor of Bioenvironmental Systems Engineering Ching-Pin Tung, Transcene Corporation Chairman Steven Chen, and ASUSTek Computer Inc. Chief Sustainability Officer TS Wu, who shared experiences and insights on achieving net-zero goals and how industries can respond to challenges in transitioning to a net-zero economy.

Cathay FHC is addressing global climate challenges through its commitment to “Sustainable Finance in Action.” By 2050, the company aims to achieve 100% renewable energy use across its global operations. This commitment positions Cathay FHC as a climate finance leader, promoting energy transition through three main pathways: investment and financing in renewable energy, collaboration on renewable energy innovation, and innovation in core competency services. As of the end of 2023, the group has achieved significant milestones, including using 17.95 million kWh of renewable energy, investing in 1,504 MW of solar energy installation capacity, and financing low-carbon initiatives totaling NT$330.5 billion (approximately US$9.47 billion). These efforts underscore the company’s pivotal role in advancing cross-industry energy transition.

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SOURCE Cathay Financial Holdings

Technology

MEMS Drive: Paving the Way for Super-High Image Resolution

Published

50 minutes ago

December 27, 2024

TAIPEI, Dec. 26, 2024 /PRNewswire/ — Fabless chip firm MEMS Drive Hong Kong Ltd manufactures cutting-edge MEMS actuators targeted at mobile imaging in portable electronics. The company uses its proprietary MEMS design and process to allow CMOS sensors to achieve swift and precise ‘SensorShift’ and is the first semiconductor company to implement 5-axis stabilization in mobile cameras.

“With edge computing capabilities steadily advancing, MEMS Drive utilizes precise movement matching algorithms and artificial intelligence [AI] to derive multiple image-enhancing features besides just stabilization, such as super-resolution and improving identification capabilities,” says Colin Kwan, CEO and President of MEMS Drive during an interview with EE Times Asia. “MEMS SensorShift-driven image sensors overturn traditional voice coil motors [VCMs], and could be applied to mobile phones, sports cameras, wearable tech, surveillance, autonomous vehicles, robotic vision and other products, bringing unlimited possibilities to the future of imaging systems.”

It is for these reasons that the company won an Innovation Award and Best Sensor of the Year award for its piezo technology-enabled autofocus actuator and optical image stabilizer (OIS) actuator at EE Awards Asia 2024. Now in its fourth year, EE Awards Asia honors some of the best products, companies, and leaders making a difference every day in Asia’s electronics industry.

The MEMS autofocus (AF) actuator is a piezoelectric multi-morphic thin film actuator that can move at Z-axis and tip-tilt directions to achieve a 3-axis compensation. The MEMS devices are designed to be based on standard silicon fabrication processes, thereby enabling good scalability and ease of handling, testing, and packaging.

According to Colin, this sensor-based technology offers multiple advantages. “It provides 3-axis image adjustments as compared to 1-axis counterparts on lens-based AF systems; it also moves three times faster and 10 times more precise by detecting positions of less than a pixel, compared to 3-5µm on lens-based AF,” he explains. “And finally, by not using a motor to move the lens around, it consumes up to 50 times less power and avoids heating problems that could affect the image’s quality.”

Meanwhile, its OIS, known as SensorShift, is said to be the world’s smallest MEMS OIS actuator. It provides a 5-axis OIS solution to improve clarity and achieve stable and precise image.

“All vibrations in pitch, yaw, roll, translational X, and translational Y can be compensated with a single MEMS chip,” says Colin. “Due to its high precision and fast response in active movement, we can achieve another application called super resolution. By shifting the imager 1 pixel or half a pixel in different directions, capturing the image at each position, and then merging and processing those images, we can get a 4X or even higher-resolution image.”

Colin notes that compared to traditional lens-based OIS, MEMS Drive’s MEMS OIS is a sensor shift solution that provides superior stabilization performance with multiple advantages, including a 10ms fast response, just 4mW of power consumption, sub-pixel precision, and high image resolution in low light and video without blur.

“Powered by our patented electrical conductive flexure [ECF] technology, the MEMS Drive actuator provides consistent, durable performance,” says Colin. “With over 2.5 billion test cycles completed in continuous operation, these innovations are crucial for ensuring the highest standards in automotive applications and safety.”

MEMS Drive’s technology is suitable for smartphones, automotive, wearable technologies such as AR/VR camera systems, sports cameras, smart city applications, and robotic vision.

In this video interview, Colin also talks about his outlook for the semiconductor and electronics manufacturing industry over the next year, upcoming challenges amid the increasingly complex designs and architectures, and the new opportunities in the market.

For more information about MEMS Drive Hong Kong Limited and its innovative solutions, please visit: memsdrive.com
Youtube / Bilibili : MEMSDrive
LinkedIn: MEMS Drive

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SOURCE EE Times Asia

Technology

Nodepay Raises $7M Total Funding To Power AI Growth with Real-Time Data Infrastructure

Published

50 minutes ago

December 27, 2024

SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.

The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.

Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).

Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”

Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.

Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”

With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.

Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.

About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.

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Technology

Plume Network Partners with Maseer to Tokenize $200M of Carbon Allowances

Published

2 hours ago

December 27, 2024

NEW YORK, Dec. 26, 2024 /PRNewswire/ — Plume Network is proud to announce a strategic partnership with Maseer, an Abu Dhabi based tokenization platform, to bring $200M in Carbon Allowances exclusively on-chain to Plume. Built on Plume’s Real-World Asset Finance (RWAfi) ecosystem, Maseer will offer a tokenized solution to one of the fastest-growing alternative asset classes: compliance carbon.

Empowering Climate Action Through Compliance Carbon Tokenization

Compliance carbon has been one of the fastest growing alternative asset classes given increased regulatory and business scrutiny on emissions. The S&P Global Carbon Credit Index, which tracks the most liquid segment of the tradable carbon credit futures markets, has seen a 15.68% annualized return over the past five years. The value of these markets reached nearly one trillion USD in 2023.

The partnership with Plume Network allows Maseer to bring fully collateralized carbon products on-chain, where they will be fully compatible with Web3’s potent DeFi sector. DeFi integration vastly enhances compliance carbon markets with superior liquidity solutions and greater access to a global body of investors, broader market demand, and new yield sources.

“We are excited to partner with Plume to bring carbon allowances on chain. Plume is uniquely positioned to bring this vision to fruition because they are the only chain purpose built for RWAs. They’ve raised the bar with their tokenization engine, infrastructure tooling, and ecosystem network effects. We believe Plume is on the bleeding edge of on-chain adoption of RWAs,” said Bradley Allgood, CEO of Maseer.

“Energy transition is an asset category that we have been increasingly focused on at Plume because of growing demand for climate action, both from a government and corporate sustainability perspective. Volumes for the global carbon credit market are forecasted to grow at a 39% CAGR from 2024 to 2033,” said Teddy Pornprinya, Chief Business Officer and Co-Founder at Plume Network.

What are carbon allowances?

Compliance carbon allowances trade under cap-and-trade programs known as Emissions Trading Systems (ETS). These systems create transparent, liquid markets that are government-mandated and regulated. As of April 1, 2024, approximately 18 percent of global greenhouse gas emissions are covered by emissions trading systems (ETS). Carbon allowances are distinct from project-based carbon offsets and offer a market-based approach to regulating a region’s emissions, with mandatory participation for specified industries. Carbon allowance supply is managed by government agencies and adjusted primarily through an annually declining cap. 

About Plume
Plume is the first fully integrated L1 modular blockchain focused on RWAfi, offering a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. With 180+ projects on its private devnet, Plume provides an end-to-end tokenization engine and a network of financial infrastructure partners, simplifying asset onboarding and enabling seamless DeFi integration for RWAs. Learn more at https://www.plumenetwork.xyz/ or contact press@plumenetwork.xyz

About Maseer
Maseer operates out of Abu Dhabi Global Market (ADGM), the world’s leading Special Economic Zone (SEZ) for digital asset innovation. Maseer is led by Tokenization and Free Zone Veteran Bradley Allgood and is focused on the design of bringing real world assets on chain to be fully interoperable with DeFi. Maseer has developed strategic relationships with Sovereign Nations and Large Enterprises to identify the highest quality real world assets around the world.

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SOURCE Plume Network