Cathay Financial Joins 24/7 Carbon-Free Power Coalition

Climate Group’s 24/7 Carbon-Free Coalition pushes corporate buyers beyond annual renewable-energy matching by linking electricity consumption with carbon-free supply on an hourly or sub-hourly basis in the market where power is used. The approach is designed to give companies a clearer view of emissions and exposure to fossil-fuel price volatility. Cathay Financial Holdings’ participation matters because a major Asian financial group can extend those signals through lending and investment, not only its own operations.

Chang-Ken Lee, president of Cathay Financial Holdings, announced the move during London Climate Action Week on June 23, 2026, making Cathay FHC the coalition’s first and only financial institution. The eight participating companies will measure and report hourly matched electricity use in at least one market within two years. Cathay United Bank, a group subsidiary, also joined Pentagreen Capital’s Green Investments Partnership on May 20; commitments to the blended-finance program rose to $800 million from $510 million, expanding capacity for green infrastructure and energy-transition projects across Asia.