Cathay Securities

Cathay Securities's reported carbon emissions

Cathay Securities, a financial intermediation services provider based in TW, has demonstrated increasing transparency regarding its greenhouse gas (GHG) emissions. In 2023, the company reported a total of approximately 97.8 million kg CO2e. This figure comprises Scope 1 emissions of about 56,340 kg CO2e, Scope 2 market-based emissions of approximately 465,490 kg CO2e, and Scope 3 emissions totalling around 42,740 kg CO2e. Looking back, Cathay Securities reported approximately 1.11 billion kg CO2e in 2022, with Scope 1 at roughly 55,720 kg CO2e, Scope 2 market-based at about 999,230 kg CO2e, and Scope 3 at approximately 11,980 kg CO2e. In 2021, the total emissions were around 1.17 billion kg CO2e, consisting of Scope 1 emissions of approximately 55,460 kg CO2e, Scope 2 market-based emissions of about 1.16 billion kg CO2e, and Scope 3 emissions of roughly 6,070 kg CO2e. For 2020, the total emissions stood at approximately 1.21 billion kg CO2e, with Scope 1 at approximately 52,990 kg CO2e, Scope 2 market-based at about 1.15 billion kg CO2e, and Scope 3 at around 13,470 kg CO2e. Cathay Securities has set ambitious climate commitments. The company aims to cumulatively reduce its Scope 1 and 2 GHG emissions by 30% by 2025 and by 42% by 2030, using 2020 as the baseline year. These targets, which exclude subsidiaries, indicate a strong focus on decarbonisation. Furthermore, its parent company, Cathay Financial Holdings, has committed to achieving net-zero emissions for financial assets by 2050. While specific Scope 3 reduction targets are not detailed, the company acknowledges Scope 3 emissions and notes that data for "purchased goods and services" was a missing data point in its reporting for 2020-2023. The company's "Economic Carbon Emission Intensity" was reported as 0.00183 NTD in 2023, down from 0.00258 NTD in 2021, suggesting a move towards greater carbon efficiency per unit of revenue. It's important to note that Cathay Securities's climate targets and reporting are cascaded from Cathay Financial Holding Co., Ltd., its corporate parent. This signifies that the sustainability initiatives and GHG emission reduction goals are integrated within the broader financial group's strategy.