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Yahoo
14-05-2025
- Business
- Yahoo
Cathay United Bank Ho Chi Minh City Branch Hosts ESG Seminar: A "Key" to Unlock Sustainable Development
TAIPEI, May 14, 2025 /PRNewswire/ -- Cathay United Bank (CUB) marked its 20th anniversary in Vietnam by launching a year-long celebration with a landmark ESG seminar, bringing together over 80 industry leaders to chart a course for sustainable development among businesses in Vietnam. Focusing on ESG: Global Trends and Local Challenges In a bold demonstration of its commitment to sustainability and innovation, Cathay United Bank Ho Chi Minh City Branch (CUBHCM) celebrated its 20th anniversary under the theme "Better Together" by hosting the seminar "ESG: Challenges and Practices for Sustainable Development." As Environmental, Social, and Governance (ESG) criteria increasingly influence global business strategy, the event provided key industry stakeholders with practical insights and strategic guidance to navigate the evolving sustainability landscape. As a commercial bank under Cathay Financial Holdings – one of Asia's leading financial institutions – CUB not only provides financial services but also actively serves as a key partner for businesses transitioning towards sustainability. In 2015, CUB became the first Taiwanese bank to adopt the Equator Principles, ensuring its financed projects align with international environmental and social risk management standards, laying a solid foundation for supporting sustainable development in business. Mr. Michael Wen, Executive Vice President of Cathay United Bank, emphasized at the seminar, "Cathay United Bank aims to support our clients in navigating the evolving ESG landscape by providing insights into global and local trends, regulatory developments, and practical implementation approaches, empowering businesses. Vietnam's rapid economic growth presents both opportunities and challenges in sustainability, and collaboration between businesses, financial institutions, and policymakers is key to driving meaningful change." During the forum, Mr. Nguyễn Hoàng Nam, ESG Leader at PwC Vietnam, highlighted the challenges many domestic small and medium-sized enterprises (SMEs) face regarding ESG: "Approximately 39% of businesses have never heard of ESG, and over 60% are unaware of relevant regulations. Key barriers include financial constraints, a lack of clear legal guidance, and limited ESG implementation capacity." To address these challenges, Mr. Nguyễn Hoàng Nam advised that businesses to invest in internal ESG training, develop reliable reporting data systems, proactively seek green finance partners, and engage with industry associations to learn best practices. Practical Models and Industry Best Practices Despite the challenges, ESG implementation in Vietnam has seen encouraging progress. At the policy level, the Vietnamese Government has issued the Green Growth Strategy for 2021–2030. The forum also featured representatives from leading companies in ESG execution and certification, including IDICO Industrial Park, Schneider Electric, Ares International Certification, Dan-D Foods, and Micro Electricity . For instance, IDICO Industrial Park has introduced greener practices in heavy industry. It has installed rooftop solar systems across pre-built factories and reused wastewater. IDICO also prioritises human capital by developing convenient social housing, attracting quality workers. Meanwhile, Schneider Electric, with a Net Zero target by 2050, is actively developing clean technologies such as clean electricity and grid decarbonization to reduce its carbon footprint. Cathay United Bank : Partnering with Vietnamese Businesses for Sustainability By 2024, CUB had earned nearly 90 prestigious awards recognising achievements in asset management, digital innovation, and ESG practices—a testament to its position as a responsible and forward-thinking bank. Most recently, Cathay United Bank ranked in the top 20% of the Financial Supervisory Commission's sustainable finance ratings. Guided by its vision, positioning Vietnam as "second home," CUB has taken significant steps in the recent years to promote ESG development across the country. Notably, the branch partnered with the Asian Development Bank (ADB) to finance Vietnam's largest onshore wind power project in Ninh Thuận province, with a total investment of USD 107 million. Furthermore, the Cathay United Bank Ho Chi Minh City Branch has launched a green loan programme in the form of CAPEX financing to support Vietnamese companies in developing sustainable, eco-friendly projects. The first phase factories under this initiative were the first in Northern Vietnam to receive the international LEED green building certification. Mr. VJ Lu, the General Manager of CUB Ho Chi Minh City Branch stated, "Throughout today's seminar, we've looked at real challenges and practical solutions for ESG and sustainable development. Whether it was energy transition, strategy, or real business stories—it all comes down to one thing: working together. Collaboration really is key if we want to drive long-term change." As the opening event of CUB's 20 years anniversary celebration in Vietnam, this seminar underscores the bank's commitment to connecting people, ideas, and solutions. Embracing the message "Better Together", CUB affirms that ESG is not a solitary path, but a shared responsibility requiring collaboration across the enterprise–finance–community ecosystem to move further, together. View original content to download multimedia: SOURCE Cathay United Bank Sign in to access your portfolio
Yahoo
04-04-2025
- Business
- Yahoo
TITAN Group Published the 2024 Integrated Annual Report
A year of transformational growth and accelerated progress BRUSSELS, April 04, 2025--(BUSINESS WIRE)--Regulatory News: TITAN Group (Brussels:TITC) published today its 2024 Integrated Annual Report (IAR) which outlines the company's financial, as well as environmental, social, and governance (ESG) performance. This report marks a year of record financial performance, strong shareholder returns and a continued focus on long-term stakeholder value creation. As TITAN accelerates the execution of its Green Growth Strategy 2026, it remains steadfast in its dedication to sustainability, innovation, and customer-centric growth, setting new standards of excellence across the industry. In 2024, TITAN achieved record financial performance, with strong revenue growth and an over-proportional increase in profitability, while further strengthening its balance sheet. This strong performance for another year underscores the Group's ability to execute its strategy, delivering growth and resilience in an evolving and volatile market environment. The "Sustainability Statement" section in the 2024 IAR is fully aligned with the Corporate Sustainability Reporting Directive (CSRD), which was enacted by the EU this year, providing a comprehensive overview of how TITAN addresses key ESG matters, identified through a double materiality assessment1. TITAN is shaping a future where business success and societal progress go hand in hand, driven by its purpose: "Making the world around us a safe, sustainable, and enjoyable place to live". The 2024 Integrated Annual Report and the independent auditor's reports are available on TITAN Group's website: Key highlights 2024: Sales increased by 3.8% to €2.64 billion, driven by higher volumes across all product lines and sustained pricing. All regions contributed to this growth, with the US and Europe leading the way for another year. Record EBITDA2 at €592 million, up by 9.6%, thanks to gains from operating efficiencies and lower solid fuel costs, as well as higher use of alternative fuels. NPAT2 reached €315 million, up 17% YoY, and Earnings per Share at €4.2 from €3.6/share in 2023. Capex reached €251 million, a 15-year high, primarily allocated to growth projects across the supply chain, alternative fuels, digitalization, and innovation. Net Debt/EBITDA ratio at 1.02x, with an upgraded credit rating of "BB+ with stable outlook" from S&P. New digital solutions and further acceleration of existing ones (Real-Time Optimizers), leading to increased production and energy consumption savings. On track to digitalize 100% of our plants by 2026. Significant reduction of CO2 to 598 kg per tonne of cementitious product, an 11% decrease, since 2020. Front-End Engineering Design (FEED) contract signed with thyssenkrupp Polysius for the large-scale carbon capture project, IFESTOS. Recognition by the Financial Times as one of Europe's Climate Leaders and by TIME Magazine as one of the World's Most Sustainable Companies. Leadership Status on climate change by CDP for four consecutive years. 368 wellbeing initiatives for employees across regions. 297 community engagement initiatives across all operating countries. Biodiversity Management Plans (BMP) in place at all sites in areas with high biodiversity value. Distribution of dividend Given the strong profitability achieved in 2024 and taking into account the liquidity secured through the IPO of Titan America, the Board of Directors is proposing to the Annual General Assembly of Shareholders, scheduled to take place on May 8th, 2025, a special ad-hoc increase of the annual dividend by €2 per share, to a total dividend amount of €3 per share. Combined with the running share buyback program with a total spent amount of more than €20 million in 2024, this significant dividend payout underlines the company's continuous and strong focus on shareholder returns. About TITAN TITAN Group is a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs over 5,700 people and is present in over 25 countries, holding prominent positions in the US, Europe, including Greece, the Balkans, and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With a 120-year history, TITAN has always fostered a family-and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi). The company is listed on Euronext and the Athens Exchange. For more information, visit our website at 1 The principle of double materiality assessment is a methodology used to evaluate the most significant sustainability issues in two directions: the impact of the company on the environment and society (impact materiality) and the impact of sustainability issues on the company's financial results (financial materiality).2EBITDA, NPAT and EPS are on a Like-for-like adjusted basis, after adjustments for non-recurring one-off costs View source version on Contacts For further information, please contact Group Corporate Communications at media@ Sign in to access your portfolio
Associated Press
04-04-2025
- Business
- Associated Press
TITAN Group Published the 2024 Integrated Annual Report
Regulatory News: TITAN Group (Brussels:TITC) published today its 2024 Integrated Annual Report (IAR) which outlines the company's financial, as well as environmental, social, and governance (ESG) performance. This report marks a year of record financial performance, strong shareholder returns and a continued focus on long-term stakeholder value creation. As TITAN accelerates the execution of its Green Growth Strategy 2026, it remains steadfast in its dedication to sustainability, innovation, and customer-centric growth, setting new standards of excellence across the industry. In 2024, TITAN achieved record financial performance, with strong revenue growth and an over-proportional increase in profitability, while further strengthening its balance sheet. This strong performance for another year underscores the Group's ability to execute its strategy, delivering growth and resilience in an evolving and volatile market environment. The 'Sustainability Statement' section in the 2024 IAR is fully aligned with the Corporate Sustainability Reporting Directive (CSRD), which was enacted by the EU this year, providing a comprehensive overview of how TITAN addresses key ESG matters, identified through a double materiality assessment 1. TITAN is shaping a future where business success and societal progress go hand in hand, driven by its purpose: 'Making the world around us a safe, sustainable, and enjoyable place to live'. The 2024 Integrated Annual Report and the independent auditor's reports are available on TITAN Group's website: Key highlights 2024: Sales increased by 3.8% to €2.64 billion, driven by higher volumes across all product lines and sustained pricing. All regions contributed to this growth, with the US and Europe leading the way for another year. Record EBITDA 2 at €592 million, up by 9.6%, thanks to gains from operating efficiencies and lower solid fuel costs, as well as higher use of alternative fuels. NPAT 2 reached €315 million, up 17% YoY, and Earnings per Share at €4.2 from €3.6/share in 2023. Capex reached €251 million, a 15-year high, primarily allocated to growth projects across the supply chain, alternative fuels, digitalization, and innovation. Net Debt/EBITDA ratio at 1.02x, with an upgraded credit rating of 'BB+ with stable outlook' from S&P. New digital solutions and further acceleration of existing ones (Real-Time Optimizers), leading to increased production and energy consumption savings. On track to digitalize 100% of our plants by 2026. Significant reduction of CO 2 to 598 kg per tonne of cementitious product, an 11% decrease, since 2020. Front-End Engineering Design (FEED) contract signed with thyssenkrupp Polysius for the large-scale carbon capture project, IFESTOS. Recognition by the Financial Times as one of Europe's Climate Leaders and by TIME Magazine as one of the World's Most Sustainable Companies. Leadership Status on climate change by CDP for four consecutive years. 368 wellbeing initiatives for employees across regions. 297 community engagement initiatives across all operating countries. Biodiversity Management Plans (BMP) in place at all sites in areas with high biodiversity value. Distribution of dividend Given the strong profitability achieved in 2024 and taking into account the liquidity secured through the IPO of Titan America, the Board of Directors is proposing to the Annual General Assembly of Shareholders, scheduled to take place on May 8 th, 2025, a special ad-hoc increase of the annual dividend by €2 per share, to a total dividend amount of €3 per share. Combined with the running share buyback program with a total spent amount of more than €20 million in 2024, this significant dividend payout underlines the company's continuous and strong focus on shareholder returns. About TITAN TITAN Group is a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs over 5,700 people and is present in over 25 countries, holding prominent positions in the US, Europe, including Greece, the Balkans, and the Eastern Mediterranean. The Group also has joint ventures in Brazil and India. With a 120-year history, TITAN has always fostered a family-and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi). The company is listed on Euronext and the Athens Exchange. For more information, visit our website at 1 The principle of double materiality assessment is a methodology used to evaluate the most significant sustainability issues in two directions: the impact of the company on the environment and society (impact materiality) and the impact of sustainability issues on the company's financial results (financial materiality). 2 EBITDA, NPAT and EPS are on a Like-for-like adjusted basis, after adjustments for non-recurring one-off costs SOURCE: TITAN Group Copyright Business Wire 2025. PUB: 04/04/2025 07:34 AM/DISC: 04/04/2025 07:34 AM
