Delta's COP28 Side Event Shares Experience in Internal Carbon Pricing, Echoing COP28's "Climate Finance" Focus

News provided by

Dec 11, 2023, 04:47 ET

TAIPEI, Dec. 11, 2023 /PRNewswire/ -- Delta Electronics has just organized a side event at the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC), focusing on "Climate Finance", one of the main themes of COP28. Delta's participation this year, led by Ms. Shan-Shan Guo, Chief Brand Officer and Vice Chairperson of the Delta Foundation, is the 16^th time the company has attended the COP climate summit. During the side event on December 10th, Delta shared the stage with the Federation of Indian Chambers of Commerce and Industry (FICCI), the German Carbon Trading Association, CDP, International Emissions Trading Association (IETA) and representatives from the Environmental Protection Agency of Ghana. Delta presented its experience in implementing internal carbon pricing management mechanisms, validating the effectiveness of carbon pricing as a robust decarbonization tool for enterprises. Delta urged all stakeholders to recognize the value of carbon pricing concepts and swiftly develop relevant concrete actions. The physical conference was simultaneously broadcast online, attracting the attention of hundreds of international climate opinion leaders and fostering lively exchanges.

Ms. Shan-Shan Guo, Vice Chairperson of the Delta Electronics Foundation, stated, "In the past, Delta has participated in the COP primarily to share energy efficient technology as a solution to tackle climate change. This year, Delta is additionally addressing the climate finance trends that companies are facing. Delta is further sharing its experience in internal carbon pricing management mechanisms, which have resulted in concrete action to reduce carbon emissions. Nearly half of the world's top 500 companies utilize internal carbon pricing to facilitate carbon reduction efforts. Since 2017, Delta has employed shadow pricing globally to support the approval of more energy-saving investment projects. We have also witnessed a decoupling of revenue growth from carbon emissions. To further expedite corporate carbon reduction, in 2021, Delta integrated internal carbon fees into its management mechanism, imposing an internal carbon pricing of US$300 per metric ton on various business units. This initiative aims to drive more energy-saving solutions and contribute to the development of innovative low-carbon technologies. By the end of 2022, 63% of the electricity consumed by our global operations comes from renewable sources, and we have already accomplished a 13.5% decrease in carbon emissions. These results underscore the effectiveness of the internal carbon fee mechanism in facilitating corporate carbon reduction."

This year, the side event is spearheaded by the Delta Electronics Foundation in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the German Carbon Trading Association, facilitating exchanges on innovative financial instruments. From the perspectives of government, companies, and international organizations, "carbon pricing" is definitely a megatrend that can effectively reduce carbon emissions. Pietro Bertazzi, the Global Director of CDP, was also invited as a speaker. He stated, "Over the past three years, we have observed a doubling of the number of companies adopting carbon pricing mechanisms. The main reasons are for driving low-carbon investments and improving energy efficiency. Delta's experience is positive, especially for revenue growth decoupled from carbon emissions. I believe it serves as a model for many companies." Rambabu Paravastu, FICCI 's Co-Chair Climate Change Committee, representing a business organization with 250,000 members in India, emphasized, "Innovative finance plays a crucial role in achieving climate goals. By leveraging new funding sources, it helps mitigate climate investment risks, supports the development of emerging decarbonization technologies, and accelerates economic decarbonization."

Since 2007, Delta has been actively participating in the United Nations Climate Conferences, consistently bringing back the latest international negotiation dynamics and carbon reduction knowledge to assist Taiwan in mitigating the environmental impacts of climate change. As a formal observer under the UNFCCC, the Delta Electronics Foundation has participated in a total of 18 events organized or invited by international partners. In addition to sharing Delta's experience in internal carbon pricing management, the foundation has presented initiatives on net-zero buildings and coral restoration at COP28. Delta remains committed to conveying international negotiation updates and carbon reduction insights, contributing to Taiwan's understanding of the latest global climate developments.

About Delta
Delta, founded in 1971, is a global leader in switching power supplies and thermal management products with a thriving portfolio of smart energy-saving systems and solutions in the fields of industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage and display, to nurture the development of smart manufacturing and sustainable cities. As a world-class corporate citizen guided by its mission statement, "To provide innovative, clean and energy-efficient solutions for a better tomorrow," Delta leverages its core competence in high-efficiency power electronics and its ESG-embedded business model to address key environmental issues, such as climate change. Delta serves customers through its sales offices, R&D centers and manufacturing facilities spread over close to 200 locations across 5 continents.

Throughout its history, Delta has received various global awards and recognition for its business achievements, innovative technologies and dedication to ESG. Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 13 consecutive years. In 2020 and 2022, Delta was also recognized by CDP with double A List for its substantial contribution to climate change and water security issues and named Supplier Engagement Leader for its continuous development of a sustainable value chain for 6 consecutive years.

For detailed information about Delta, please visit: www.deltaww.com

SOURCE Delta Electronics