U-Ming Marine Publishes Taiwan's First TCFD Report in the Shipping Industry

This year (2024), U-Ming published its first “Task Force on Climate-Related Financial Disclosures (TCFD) Independent Report”, marking the first such report in Taiwan's shipping industry! The report, following TCFD guidelines, discloses U-Ming’s management and execution of four key areas: climate governance, strategy, risk management, and metrics and targets. It also reviews the company’s climate transition risks and future transition directions.

The U-Ming TCFD report highlights the company's “2050 Net Zero Roadmap” and incorporates both the “Net Zero Emissions (NZE) scenario” from the “International Energy Agency (IEA)” and the “RCP 8.5 scenario” from the “Intergovernmental Panel on Climate Change (IPCC)”. These scenarios are used to assess climate transition and physical risks, aiming to understand the potential financial impacts of climate risks on the company. U-Ming also sets corresponding strategies to enhance its ability to "mitigate" and "adapt" to climate risks, demonstrating proactive action in addressing climate challenges.

U-Ming actively responds to global decarbonization trends. In 2022, it joined the “Getting to Zero Coalition”, an international initiative for net-zero transition. In 2023, it signed on as a supporter of TCFD and aligned with the “International Maritime Organization (IMO)” and national carbon reduction targets, declaring its “2050 Net Zero Roadmap”.

U-Ming will continue to invest in climate transition efforts and regularly review its existing analysis based on the TCFD framework and the latest climate scenarios, working towards achieving net-zero carbon emissions by 2050.

Download TCFD Report https://www.uming.com.tw/csr/Article.aspx?ID=CPR0009