Department of Information and Tourism, Taipei City Government

The 2nd "City Of Excellence Award" ceremony was held today (14th), where the Department of Finance (DOF), TCG received the "Innovation Award" in the Economic Growth category for the project "TCG's Pioneering Government Issuance of Sustainability Bonds." This award recognizes innovative projects those are forward-looking and serve as a benchmark. It acknowledges the leadership of Mayor Chiang Wan-an and the Taipei team in leveraging innovative financial tools to push forward the city's vision of "sustainable communion and hope for the capital."

Hu Hsiao-lan, the commissioner of DOF, expressed that it was not easy for Taipei’s proposal, " Taipei City's Pioneering Government Issuance of Sustainability Bonds", to stand out among nearly 200 national submissions and win the "Innovation Award". With full support from Mayor Chiang and the assistance of relevant agencies, the city successfully utilized flexible and innovative financial operations to raise funds for metro construction, achieve net-zero emission sustainability goals, and effectively reduce interest expenses. The award is a high recognition of the TCG team and all collaborating units.

Commissioner Hu, further pointed out that since Mayor Chiang took office, he has focused on fiscal discipline and debt reduction. In his two years in office, Mayor Chiang reduced Taipei's debt by NT$16.9 billion, lowering the average debt per citizen from NT$36,000 to NT$29,000. Additionally, TCG has actively attracted investment, with the city securing more than NT$27 billion in public-private partnerships in 2023. This achievement earned the "2024 PPP Distinguished Award" by the Ministry of Finance. Furthermore, the city’s business sales reached a record high of NT$17.1 trillion in 2023, ranking first among all local governments in Taiwan.

Commissioner Hu emphasized that this cross-agency cooperation with the Department of Rapid Transit Systems, TCG is the first in the country for government agencies to issue “Social Bonds”, using innovative financial tools and Taipei City’s advantageous Department of Rapid Transit Systems network to jointly achieve Taipei’s sustainability goals. In 2024, the issuance amount reached NT$10 billion , a remarkable achievement, ranking first among local governments in the country.

DOF finally stated that under the goal of net-zero emission and carbon reduction, raising funds through the issuance of “Sustainability Bonds” to support sustainable development policy projects will be an international future trend. The TCG will pay close attention to the bond market situation and consider international financial trends and debt management. The TCG will timely evaluate and issue “Sustainability Bonds” based on city's capital utilization needs, improve financial and debt management efficiency, maintain financial stability and soundness, and build the city of safety, fitness, and future.