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Southesk-Gottman directed a study regarding the coal acquisition in Taiwan to reveal the potential impact on human rights
HONG KONG S.A.R., November 28, 2023 /EINPresswire.com/ -- Southesk Gottman, a global brokerage service provider specializing in over-the-counter derivatives within the commodity markets, today announced that a special survey has been conducted on the interconnection between coal purchasing and the effects on human rights in Taiwan, which is one of the leading coal importers.Taiwan lacks natural resources and is significantly reliant on imported energy, with over 90% of its energy and mineral resources coming from outside the country. As a result, natural resources such as coal continue to be a major import item. Taiwan's total coal reserves are less than a year's worth of coal usage, making the country extremely reliant on natural coal imports to keep its consumption levels stable.
Several representatives of Southesk Gottman have visited Taiwan in order to detect the possible influence of coal supply in the region. Different interested parties have been interviewed, including members of local institutions, NGOs, and mining companies. The survey envisioned three major human rights risks: rights of employees, involuntary relocation and restoration, environment protection.
Southesk Gottman has taken responsibility to cooperate with several mining companies by means of analyzing their operations, providing up-to-date recommendations, and establishing common action plans with the aim of improving business performances. The provided analysis is an important step for supporting coal purchasing while minimizing the risk and influence on the human factor.
“We are glad to see that our recommendations have been considered and interested parties are taking action. We will keep working on setting up action plans in partnership with mining companies so that we maintain a high level of business interaction. Any updates will be shared with the survey participants so that we receive proper feedback and implement necessary steps”, said Ong Chok, Vice President of Commercial Products at Southesk Gottman.
About Southesk Gottman
Southesk-Gottman is a global brokerage service provider specializing in over-the-counter derivatives within the commodity markets. Southesk Gottman attracts and retains talented individuals from the world of trading and brokerage to provide a more bespoke, educated, and developed level of service. Southesk Gottman’s core front office team wields an impressive repertoire of 125 years combined commodity options trading experience. Our global presence allows us to provide exemplary service with execution offerings across a variety of markets. Southesk Gottman has developed an extensive network of partnerships with the largest firms in the industry.
Kam Thye
Southesk Gottman
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