Seneca ESG

02 Mar China, US Become Co-Chairmen of G20 Re-established Sustainable Financial Study Group

Posted at 14:09 by Zoe Zhou

The G20 re-established the Sustainable Finance Study Group (SFSG) for preventing finance risks caused by climate change, and supporting disclosures of climate-related information, as reported by Caixin in February 28. The co-chairmen of SFSG are China’s PBoC and the US Department of the Treasury, which...

01 Mar CATL Plans to Add RMB10.5bn for NEV Battery Capacity Expansion

Posted at 16:06 by Cici Luo

Chinese battery maker Contemporary Amperex Technology (CATL) [300750:CH] announced on February 25 to invest up to RMB10.5bn in the expansion project of its new energy vehicle (NEV) battery production lines in Jiangsu Province, as reported by Sina on the same day. Notably, this is the...

01 Mar SPIC to Spend RMB115bn in Green Transportation System Development

Posted at 13:45 by Ningjing Liu

Zu Bin, chairman of state-backed power generator State Power Investment Corporation (SPIC) has announced plans to invest RMB115bn in the next five years to push forward the company’s green transportation system development, as reported by Caixin on February 27. Specifically, the company targets to introduce...

26 Feb EU SFDR Has Arrived: What it Means for All Investment Managers & Advisors

Posted at 14:31 by Una Qu

Executive Summary EU’s Sustainable Finance Disclosure Regulation (SFDR) will become effective on March 10th, 2021. SFDR will also affect all asset management and advisory firms globally, including those in APAC and China who either: 1. have UCITS products;2. provide advisory services to EU asset managers or asset...

25 Feb State Council Issues Guidelines to Enhance Green Finance Development

Posted at 15:49 by Zoe Zhou

State Council on February 22 published guidance about establishing a green low-carbon and circular development economic system, as reported by Caixin on the same day. In the finance area, the guidance requires to enhance the domestic green finance development, such as green credits, green direct...

24 Feb South Korean KIC Reduces US-listed Coal Stock Investments

Posted at 10:24 by Sophia Gu

South Korea’s sovereign wealth fund Korea Investment Corp. (KIC), with USD183.1bn worth of assets under management (AUM), cut its coal stock exposure in the US, as reported by The Korea Herald on February 17. Despite this, KIC’s investments in US-listed coal shares are still more...

23 Feb State Council Issues Guideline for Green, Low-Carbon Circular Economy

Posted at 15:52 by Ningjing Liu

China’s State Council has published a guideline on February 22, to accelerate the development of a green and low-carbon circular economy, as reported by Xinhua on the next day. According to the guideline, the country targets to witness a significant improvement in its industrial, energy...

23 Feb Sinopec to Build 1,000 Hydrogen Fueling Stations by 2025

Posted at 15:48 by Ningjing Liu

China’s state-backed oil and gas firm Sinopec [SNP:US] announced plans to build 1,000 hydrogen refueling stations in China in the next five years, marking a significant increase from the 27 pilot stations the company owned as of the end of 2020, as reported by Caixin...

22 Feb CSRC to Punish 14 Audit and Evaluation Agencies after 2020 Annual Inspection

Posted at 14:32 by Sophia Gu

CSRC on February 19 issued the inspection results of audit and evaluation institutions in 2020, as reported by Caixin on the same day. Based on the overall and special inspections, CSRC announced to impose relevant penalties on eight audit agencies, 28 certified public accountants, six...

19 Feb CCDC Proposes to Promote Substantive Green Bonds in GBA

Posted at 16:23 by Sophia Gu

State-owned financial institution China Central Depository & Clearing Corporation (CCDC) recently held a conference, where its research and development (R&D) center proposed the concept of substantive green bonds and promote such bonds in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), as reported by JRJ.com on...

Insights