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Cathay FHC leads Taiwan’s Renewable Energy Push at LSEG’s Climate Investment Summit During Climate Week London

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Cathay FHC’s Three Arrows for Energy Transition: Renewable Energy Investment and Financing, Innovative Collaboration in Renewable Energy, and Leveraging Core Competencies to Innovate Services.

TAIPEI, June 28, 2024 /PRNewswire/ — Sustainable finance boosts the competitiveness of achieving net-zero transformation. Yesterday (26th), Lee Chang-Ken, President of Cathay Financial Holdings (Cathay FHC), personally attended the “Climate Investment Summit” at the London Stock Exchange (LSEG), marking the second consecutive year he has been the only speaker from Taiwan. Building on the consensus of “Energy System Transformation and Moving Away from Fossil Fuels” reached at the 28th UN Climate Change Conference (COP28) in 2023, Lee used Asia as an example to discuss the challenges and solutions in promoting renewable energy, sharing Cathay FHC’s cross-industry efforts and tangible results in driving renewable energy initiatives. This demonstrated Taiwan’s financial sector’s success in achieving net-zero transformation on a global scale.

The “Climate Investment Summit” has been an iconic platform of global climate solutions, held at the historical financial hub of LSEG. Cathay FHC not only became the only Taiwanese financial institution invited to the summit again but also acted as a bridge for energy transition dialogue between Europe, America, and Asia. This signifies the international recognition of Taiwan’s financial industry’s commitment and achievements in energy transition. Lee participated in the summit’s discussion on “Renewable Returns: The Business Case for Mature Energy Technologies,” sharing how Cathay FHC supports the development of low-carbon industries through capital and innovative financial services. Cathay FHC has been recognized for two consecutive years as a global best practice case by the “Investor Agenda” for its “Investor Climate Action Plans” (ICAPs), making it the only selected asset owner in Asia.

During the panel, Lee pointed out the pain points and solutions for promoting renewable energy in Southeast Asia, shared the history of the Taiwanese government’s efforts in promoting renewable energy, and discussed Cathay FHC’s role as a pioneer in the field. Cathay FHC continues to lead intrial implementation, guiding the market to understand the feasibility. ‘We are also pleased to support various innovative models that will benefit the future,’ emphasizes Lee. It is noted that Asia is the main source of global electricity demand growth and still heavily relies on fossil fuels. Southeast Asian governments should continue to enhance policy stability and strengthen infrastructure, while making good use of financial tools such as guarantees or blended finance to improve the cost of capital and investment risks in emerging markets. They should also address just transition issues such as labor employment to ensure the success of the energy transition.

Cathay FHC is the sixth financial institution in Asia to set SBT validated by the Science Based Targets initiative (SBTi). It has pledged to achieve net-zero carbon emissions in its financial assetsby 2050. Cathay FHC is also the first Taiwanese financial industry member of RE100 and a pioneer in renewable energy financing in Taiwan. In the fields of low-carbon transition and renewable energy innovation, Cathay FHC continues to lead in trial implementations, guiding the market to understand feasibility and becoming a key driver of renewable energy in Taiwan. In 2023, Cathay FHC’s renewable energy usage reached 17.95 million kWh, and by the end of 2023, the total amount of low-carbon investments and financing amounted to NT$330.5 billion (approximately equivalent to USD 11.7 billion).

Regarding Cathay FHC’ path to promoting renewable energy development, Lee outlined three major strategies. The first strategy involves “Enhancing Renewable Energy Investments and Financing.” In 2023, Cathay FHC’s total investments and financing in renewable energy reached NT$63.3 billion (approximately USD 2 billion), with a solar installation capacity of 1,504 MW. Cathay United Bank pioneered Taiwan’s first solar and offshore wind power financing; Cathay Life Insurance became Taiwan’s first life insurance company to establish the solar project investment firm “Cathay Power”. Recently, this company has been developing renewable energy on land deemed unsuitable for agriculture by the Ministry of Agriculture, fostering a mutually beneficial scenario for land revitalization and renewable energy development, while increasing power generation to meet market demand.

Secondly, Cathay FHC promotes “Innovative Collaboration in Renewable Energy.” Lee believes that Cathay FHC’s emphasis on stakeholders’ success, active attempts at collaborative innovation, and the pursuit of suitable directions to identify success stories are the reasons why Cathay FHC can continually overcome challenges and accelerate the development of renewable energy. For example, Cathay Power aims to systematically think about agrivoltaics, creating a standardized, scalable, and sustainable agrivoltaics model. The collaboration with the government to launch the “Agri-Light Project” agrivoltaics experiment in Dalin, Chiayi, is an innovative plan that integrates the cultivation of forge grass with photovoltaic technology. This initiative addresses several issues: it is expected to reduces Taiwan’s reliance on imported forage and mitigates the risks of instability of the international supply chain while avoiding negative impact on local agriculture. Furthermore, livestock manure can be utilized for biogas power generation, with the residue serving as organic fertilizer, thereby promoting balanced and circular agriculture in Taiwan.

Thirdly, Lee emphasized the importance of “Leveraging Core Competencies to Innovate Services.” Facing the numerous challenges climate change poses to businesses, Cathay FHC proactively seeks solutions by leveraging its core financial competencies to offer diverse, innovative services, turning challenges into opportunities. For example, Cathay Securities collaborated closely with Cathay FHC’ Digital Data & Technology Center(DDT)’s blockchain team to develop a Security Token Offering (STO) product, Taiwan’s first STO. The issuance involves a 6-year debt-based STO offering a 3.5% annual interest rate. Coupled with a preferential purchase mechanism for electric machinery, the overall investment return rate increases significantly, assisting green energy enterprises in raising funds from professional investors and giving investors more confidence. Small and medium-sized enterprises often struggle to independently purchase green power. As Taiwan’s largest commercial real estate owner, Cathay Life consolidates the purchase and distribution of green power, enabling our tenants to obtain it more efficiently. This approach plays a vital role in bridging the renewable energy supply-demand gap. In 2023, 18 enterprises received a total of 13.49 million kWh of green power.

Lee further stated that Cathay FHC is dedicated to collaborating with partners and customers from various sectors to explore more climate solutions together. On coming July 3rd, the annual “Cathay Sustainable Finance and Climate Change Summit,” will focus on net-zero solutions and sustainable finance. This summit will feature prominent experts and leading companies in sustainability, including Sam Kimmins, Director of Energy at the Climate Group, who will together share forward-looking perspectives and industry practices. The event aims to guide Taiwanese enterprises in accelerating climate action and showcasing Taiwan’s industrial achievements and commitment to net-zero goals on the global stage.

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SOURCE Cathay Financial Holdings

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Kawasaki and CB&I Sign Strategic Collaborative Agreement for Promoting Commercial-Use Liquefied Hydrogen Supply Chain

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September 20, 2024

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HOUSTON, Sept. 19, 2024 /PRNewswire/ — Kawasaki Heavy Industries, Ltd. (Kawasaki) and CB&I, a wholly owned unrestricted subsidiary of McDermott, announced today their signing of a strategic agreement for promoting a commercial-use liquefied hydrogen (LH2) supply chain and realizing a zero-carbon-emission society. The signing ceremony took place at Gastech Exhibition & Conference in Houston on September 18, 2024.

“We are very pleased for this opportunity to build and launch a commercial liquefied hydrogen supply chain in cooperation with CB&I,” said Motohiko Nishimura, President, Energy Solutions & Marine Engineering Company, Kawasaki Heavy Industries, Ltd. “By taking advantage of both companies’ strengths and specialized know-how, we aim to cost down hydrogen, strengthen hydrogen supply chain competitiveness, and accelerate the transition to a zero-carbon society.”

Both companies will use their specialized know-how to provide infrastructure that will enable commercial-scale international LH2 supply chains in order to help achieve carbon-neutrality. By leveraging our combined expertise to deliver large-scale LH2 infrastructure solutions, CB&I and Kawasaki are removing barriers, driving down costs and enhancing scalability across the entire supply chain.

“This strategic partnership represents a significant advancement in liquid hydrogen storage capabilities,” said Mark Butts, Senior Vice President of CB&I. “Our technical expertise and extensive experience in liquid hydrogen storage position us at the forefront of the energy transition, delivering reliable storage solutions and executing projects worldwide with proven success.”

Under this agreement, the companies will provide infrastructure to advance the global realization of a sustainable energy economy and meet decarbonization targets. This collaboration will reduce LH2 infrastructure costs and contribute to more widespread use of this clean and efficient energy source.

About CB&I
CB&I is the world’s leading designer and builder of storage facilities, tanks, and terminals. With more than 60,000 structures completed throughout its 130-year history, CB&I has the global expertise and strategically located operations to provide its customers world-class storage solutions for even the most complex energy infrastructure projects. CB&I is a wholly owned unrestricted subsidiary of McDermott. To learn more, visit www.cbi.com.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About Kawasaki Heavy Industries, Ltd.
Kawasaki Heavy Industries, Ltd. is general engineering manufacturer with over 125 years of experience manufacturing products spanning land, sea and air. Kawasaki established the Kawasaki Group’s new vision statement, “Group Vision 2030: Trustworthy Solutions for the Future,” and is focusing on three fields, “A Safe and Secure Remotely-Connected Society,” “Near-Future Mobility,” and “Energy and Environmental Solutions” in order to provide solutions for social issues. For “Energy and Environmental Solutions” in particular, by securing the technology necessary for the entire supply chain (for production, transportation, storage and utilization) ahead of the rest of the world, Kawasaki aims to bring about a society that utilizes hydrogen, the ultimate clean energy that emits no carbon dioxide when used. To learn more, visit https://global.kawasaki.com/en.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about the expected benefits from the collaboration agreement discussed in this press release.  Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott’s management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

For media inquiries, please use the contact information below:

Reba Reid
Global Media Relations
+1 281 588 5636
RReid@McDermott.com

Kristi Krupala-Grove
CB&I Media Relations
+1 346 313 9636
KKrupala2@mcdermott.com

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SOURCE McDermott International, Ltd

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Halal Route Application – Eat, Travel around Thailand, Safe and Sound Halal Style

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September 20, 2024

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BANGKOK, Thailand, Sept. 20, 2024 /PRNewswire/ — The Halal Science Center, Chulalongkorn University has developed Halal Route, an application that lists restaurants, lodging, mosques, prayer directions, and tourist attractions in Thailand under Islamic tourism principles. It hopes to help Muslim tourists travel in Thailand with peace of mind, and supports tourism industry operators to grow and welcome a growing number of Muslim tourists.

The Tourism Authority of Thailand (TAT) predicts that in 2024 there will be around 168 million Islamic tourists worldwide.  According to the Mastercard-Crescent Rating Global Muslim Travel Index (GMTI 2024), Thailand is the 32nd most popular destination for Muslim tourists.  However, the major problem Muslim tourists encounter in Thailand is finding Halal-accredited restaurants, hotels, accommodations, or tourist attractions with service areas (such as prayer rooms) that are compliant with the Islamic way.

“Halal Route” is a travel aggregator app that collects searchable information on Halal restaurants, mosques, prayer locations, times, and directions for prayers (the qibla), tourist attractions, Muslim villages or communities, hotels, accommodations, etc.  This app is linked to Google Maps for navigation with precision. It also supports 3 languages, Thai, English, and Arabic, so that Muslim tourists can live and travel more comfortably and with peace of mind,” said Mr.Erfun Weahama, Science Service Officer, Halal Route App development team.

Dr. Anat Denyingyot, Assistant Director of the Halal Science Center, emphasized that the Halal Route application has the most reliable and comprehensive information on halal tourism in Thailand today. “All restaurants and locations have had on-site visits and are audited according to standards approved by a trusted authority or organization, such as certifications from religious organizations or halal food-related entities, as well as management systems to guarantee and be responsible for halal conditions (the HAL-Q system),” Dr. Anat assured.

Currently, the application has more than 1,100 restaurants in its database, and new locations and services are being updated, covering more than 40 provinces from north to south of Thailand that are popular among tourists.

“Halal Route is not only for navigation, but a platform that connects Muslim communities from around the world who have the opportunity to visit Thailand,” Associate Professor Dr.Winai Dahlan, Director of the Halal Science Center concluded.

The Halal Route application is free to download on both iOS and Android systems.

Read the full article at https://www.chula.ac.th/en/highlight/185916/  

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SOURCE Chulalongkorn University

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QR Code Labels Market Size to Grow USD 1339.1 Million by 2030 at a CAGR of 5.6% | Valuates Reports

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September 20, 2024

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BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — QR Code Labels Market is Segmented by Type (Flexographic Printing, Digital Printing, Offset Gravure), by Application (Inventory Management, Marketing & Advertisement, Mobile Payments, Personal Use): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global QR Code Labels Market was valued at US$ 889.2 million in 2023 and is anticipated to reach US$ 1339.1 million by 2030, witnessing a CAGR of 5.6% during the forecast period 2024-2030.

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Major Factors Driving the Growth of QR Code Labels Market:

The QR code labels market is experiencing robust growth due to the increasing adoption across sectors like retail, logistics, marketing, and payments. The convenience, versatility, and cost-effectiveness of QR code labels, combined with the rise in mobile phone usage and the shift toward contactless technologies, are key drivers of this growth. Industries are leveraging QR codes for diverse applications such as inventory management, mobile payments, and marketing campaigns. However, concerns about data privacy and security may limit widespread adoption in certain regions.

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TRENDS INFLUENCING THE GROWTH OF THE QR CODE LABELS MARKET:

 Flexographic printing holds the largest share in the QR code labels market due to its high-speed production capabilities and cost-effectiveness for large print runs. Flexographic printing is particularly popular in sectors like retail and logistics, where large quantities of QR code labels are required for packaging and inventory management. Its ability to print on a wide range of substrates, including paper, plastic, and metallic foils, makes flexographic printing the preferred choice for high-volume, cost-efficient QR code label production, driving its dominance in the market.

Digital printing is the second-largest segment, known for its flexibility, quick turnaround times, and ability to produce short print runs cost-effectively. This technology is widely adopted in the marketing and advertising sectors where businesses need customized QR code labels for targeted campaigns and promotions. Digital printing offers high-quality, precise printing for small batches, allowing companies to personalize QR codes for specific audiences or events. The growing trend of personalization in marketing is significantly driving the demand for digital printing in the QR code labels market.

Inventory management is the largest application segment, as QR code labels simplify tracking and monitoring products in warehouses, retail stores, and logistics chains. QR codes allow for real-time updates and easy access to product details, making inventory management more efficient. Businesses, especially in e-commerce and logistics, rely on QR codes to reduce human errors, improve accuracy, and streamline operations. As global trade and e-commerce continue to grow, inventory management remains the largest driver of the QR code labels market.

QR codes in marketing and advertising are increasingly popular as brands use them to engage customers directly through digital content. By scanning a QR code, consumers can access websites, videos, promotions, and other interactive media, enhancing brand interaction. This trend is particularly strong in retail and consumer goods sectors, where QR codes are used in packaging, billboards, and digital campaigns. With more consumers using smartphones, QR codes have become a key tool in marketing strategies, driving growth in this application.

The use of QR code labels for mobile payments is rapidly expanding, especially in regions like Asia-Pacific, where cashless transactions are becoming the norm. QR codes provide a secure, contactless payment solution, and their integration with mobile wallets makes them convenient for both consumers and businesses. The pandemic accelerated the shift to contactless payments, and the trend is expected to continue as more businesses adopt QR code-enabled payment systems. This rising trend is a significant factor contributing to the growth of the QR code labels market.

QR code labels are also being increasingly adopted for personal use, particularly in the context of social networking, personal branding, and event management. Individuals are using QR codes to share contact information, social media profiles, or event details. The ease of generating and sharing QR codes through mobile apps has made this technology accessible for personal use. As digital interaction becomes more integrated into daily life, personal use of QR code labels is expected to grow, further expanding the market.

The production of QR code labels, particularly in large quantities, is increasingly being scrutinized for its environmental impact. Companies are looking for sustainable printing solutions, such as eco-friendly inks and biodegradable materials, to reduce the environmental footprint of label production. Flexographic and digital printing technologies are evolving to meet these demands, with manufacturers investing in greener alternatives. The shift towards sustainability in label production is expected to shape the future of the QR code labels market.

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QR CODE LABELS MARKET SHARE

The Asia-Pacific region dominates the QR code labels market, driven by the widespread use of QR codes for mobile payments and inventory management, particularly in China and Japan. North America follows, with increasing adoption in retail, marketing, and healthcare. Europe is also a key market, driven by the rising demand for contactless payment solutions and digital marketing initiatives. The Middle East and Africa are emerging markets, especially in mobile payments and product traceability applications.

Key Companies:

Lintec CorporationCCL IndustriesPacktica SDNLabel LogicHibiscusData LabelAdvanced LabelsCoast Label CompanyLabel ImpressionsConsolidated LabelAvery

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

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