Sinyi Development Achieves BSI Highest Rating for TCFD Disclosure — 2024/08/05

Sinyi Development continues to enhance its climate risk management efforts and recently announced that it has achieved the highest "Level 5+ Excellence" rating from the British Standards Institution (BSI) for TCFD (Task Force on Climate-related Financial Disclosures). Sinyi Development is the first construction company in Taiwan to receive this top certification, demonstrating its commitment to sustainable development. (Photo provided by Sinyi Housing)

Sinyi Development, a subsidiary of Sinyi Group, has declared 2023 as the inaugural year for its "Inclusive Pre-Architecture" initiative, aiming to set an ESG benchmark in Taiwan through sustainable construction methods and community-building efforts. In addition, Sinyi Development has continued to refine its climate risk management actions. The company’s achievement of the TCFD "Level 5+ Excellence" rating from BSI affirms its dedication to climate change adaptation and sustainability, driving further progress and enhancing operational resilience.

Mr. Chen Qinghong, General Manager of Sinyi Development, expressed, "We are honored to be the first construction company to receive the BSI TCFD Level 5+ rating, which not only recognizes our efforts in climate change response and sustainability but also motivates us to continue improving our organizational resilience."

The construction industry, a sector with high greenhouse gas emissions, faces significant challenges in managing carbon impact. Sinyi Development follows the TCFD framework to address climate change through the four major components: "Governance," "Strategy," "Risk Management," and "Metrics and Targets." By identifying climate-related risks and opportunities across its value chain, and using scenario analysis to shape strategies, Sinyi Development, guided by the board and senior management, is able to effectively respond to climate impacts while ensuring business continuity.

In terms of building carbon footprints, Sinyi Development collaborates with National Cheng Kung University on the Jiaxin project to perform a full lifecycle carbon footprint assessment for categories 3-6. This includes carbon emissions from building material transportation, construction processes (embodied carbon), and operational carbon emissions during building use, such as electricity or water consumption for air conditioning, lighting, and cooking equipment. The study results not only meet the Ministry of the Interior’s current building energy efficiency assessment standards and low-carbon building certification but also open new avenues for carbon emission management in the construction industry.

Sinyi Development plans to use the Jiaxin project’s data as a baseline for identifying emission hotspots and developing more effective energy-saving and carbon-reduction strategies. These findings will be applied to future construction projects to minimize environmental and climate change-related impacts, moving towards the net-zero building goal.

In the future, the construction industry must not only respond to the challenges of climate change but also seize the opportunities it presents. Sinyi Development remains committed to setting an ESG benchmark for construction in Taiwan and continues to provide high-quality residential and commercial buildings. Additionally, Sinyi Development regularly discloses climate-related information in its sustainability reports and corporate sustainability section to ensure that all stakeholders are informed about the company’s management actions and goal achievements, while creating greater value for society and the environment.

Source：udn Real Estate