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TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED

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Chipmaker TSMC aims for net zero emissions by 2050

09/16/2021 | 04:12am EDT
FILE PHOTO: Logo of Taiwan Semiconductor Manufacturing Co (TSMC), in Hsinchu

TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker, said on Thursday that it aims to reach net zero emissions by 2050, matching a plan announced by President Tsai Ing-wen in April.

"TSMC is deeply aware that climate change has a severe impact on the environment and humanity. As a world-leading semiconductor company, TSMC must shoulder its corporate responsibility to face the challenge of climate change," Chairman Mark Liu said in a statement.

The company, which counts Apple Inc and Qualcomm Inc amongst its major clients, will "set related mitigation measures" and actively adopt the use of renewable energy, it added.

TSMC said it has set the short-term goal of zero emissions growth by 2025.

"TSMC will continue actively evaluating and investing in all types of opportunities to reduce carbon emissions."

Tsai said in April that the government had begun to assess how the island can reach zero greenhouse gas emissions by 2050, after environmental groups criticised the government for not doing enough to fight climate change.

Taiwan's previous target, set in 2015, was to halve emissions between 2005 and 2050.

Last year, coal provided 45% of Taiwan's electricity, with liquefied natural gas (LNG) a close second at almost 36%, according to the economy ministry.

Coal's contribution to Taiwan's power mix is set to fall to below 30% by 2025, with the proportion of LNG rising to around 50% and renewables to 20%, from just 5.4% last year, according to government plans.

Last year, Greenpeace called on tech powerhouse Taiwan to be much more aggressive in tackling climate change, in the face of the subtropical island's risks from extreme weather and rising sea levels.

(Reporting by Ben Blanchard; Editing by Himani Sarkar)


© Reuters 2021
Stocks mentioned in the article
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TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.33% 596 End-of-day quote.12.45%
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Financials
Sales 2021 1 586 B 56 903 M 56 903 M
Net income 2021 591 B 21 199 M 21 199 M
Net cash 2021 232 B 8 326 M 8 326 M
P/E ratio 2021 26,1x
Yield 2021 1,84%
Capitalization 15 455 B 555 B 554 B
EV / Sales 2021 9,60x
EV / Sales 2022 8,05x
Nbr of Employees 48 752
Free-Float 93,6%
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Technical analysis trends TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED
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Mean consensus BUY
Number of Analysts 32
Last Close Price 596,00 TWD
Average target price 763,20 TWD
Spread / Average Target 28,1%
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Managers and Directors
Che Chia Wei Vice Chairman & Chief Executive Officer
Wendell Huang Chief Financial Officer & Vice President
Te Yin Liu Chairman
Yung Ching Hou Vice President-Research & Development
J. K. Lin SVP-Information Technology & Materials Management
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