BSI Issues ISO 14068-1 Carbon Neutrality Verification to TWSE, Marking a World First for Stock Exchanges

Taipei, Taiwan, July 31, 2024 – The British Standards Institution (BSI) announced that the Taiwan Stock Exchange (TWSE) has become the world's first stock exchange received the ISO 14068-1:2023 Carbon Neutrality verification from BSI. Harold Pradal, President of the Assurance Services division at BSI, visited Taiwan in person to present this certificate and commended TWSE for its outstanding efforts.

As the originator of the London Declaration, BSI has initiated the development of the ISO Net Zero Guidelines (IWA 42) and is working the way to develop an independently verifiable international standard on net zero. The TWSE's achievement exemplifies how the standard can empower organizations of all sizes to accelerate their sustainability efforts, fostering a more sustainable world.

The ISO 14068-1 international carbon neutrality standard, developed from BSI's PAS 2060 standard, enhances the requirements for actual emissions reductions. This standard assists organizations, services, and products of all sizes in setting clear carbon reduction targets, demonstrating their commitment to greenhouse gas emissions reduction, and mitigating concerns about greenwashing.

Peter Pu, Managing Director of BSI NE Asia Region, stated: ” At this critical moment in the global effort to combat climate change, BSI is delighted to recognize TWSE's commitment to sustainable development and adherence to the highest international standards. By becoming the world's first stock exchange to be issued the ISO 14068-1 certificate from BSI, TWSE sets a pioneering example. We hope this milestone will inspire more organizations to achieve net zero through ISO standards.”

Sherman Lin, Chairman of the TWSE commented, "With the goal of becoming a benchmark for Taiwanese companies, the TWSE shoulders the important mission of complying with government policies and international standards. In early 2023, the TWSE responded to Taiwan's 2050 net-zero transition goals by setting near-term targets, using 2022 as a baseline year to achieve a 37.8% reduction in greenhouse gas emissions by 2030, and aiming for net-zero emissions by 2050 as a long-term goal. The TWSE will implement energy-saving measures such as equipment upgrades and renewable energy adoption. The TWSE will also use high-quality international carbon credits purchased from Taiwan Carbon Solution Exchange (TCX) to offset remaining emissions, thereby continuing to uphold our carbon neutrality goals. By passing BSI's carbon neutrality verification, the TWSE continues to lead by example and encourage Taiwan listed companies to pursue sustainable development together, promoting the achievement of the global net zero emissions goal.”

As one of the key drivers of Taiwan’s net-zero development, TCX is not only dedicated to providing high-quality international carbon credits to meet enterprises’ carbon neutrality needs but also assists the government in training carbon management professionals. As a strategic partner, BSI collaborates with TCX to offer a series of international standard certification courses, strengthening sustainable talent and aligning with global standards.

Mr. Harold Pradal, President of the Assurance Services division at BSI presented ISO 14068-1 Carbon Neutrality Verification Certificate to Mr. Sherman Lin, Chairman & CEO of the Taiwan Stock Exchange.