Author: Jordy Leo

17 Nov European Financial Watchdogs to Collect Greenwashing Examples for Better Understanding

Posted at 16:21 by Jordy Leo

The three European Supervisory Authorities (ESAs), namely the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA), published a Call for Evidence on greenwashing to better understand the conduct, as reported by Reuters on November 15....

17 Nov Brazil, Indonesia, and DRC Join Hands in Forest Conservation

Posted at 15:59 by Jordy Leo

The world's three largest rainforest countries: Brazil, Indonesia, and the Democratic Republic of Congo (DRC), have formed a partnership to cooperate on forest conservation after a decade of on-off talks on a trilateral alliance, as reported by Reuters on November 14. Representatives of the three...

17 Nov South Africa Releases Green Hydrogen Plan at COP27 Summit

Posted at 15:54 by Jordy Leo

South Africa plans to produce 12m tons of green hydrogen annually by 2050, with over half to be exported to neighboring countries for decarbonization, as reported by Bloomberg on November 15. Masopha Moshoeshoe, a green economy specialist in the South African Presidency’s investment and infrastructure...

17 Nov ADB, VPB Sign USD500m Package for Women-owned SMEs, Social Projects in Vietnam

Posted at 15:50 by Jordy Leo

The Asian Development Bank (ADB) [ATB:AU] and Vietnam Prosperity Joint Stock Commercial Bank (VPB) signed a loan package of up to USD500m to expand access to finance for women-owned small and medium-sized enterprises (WSMEs) and social loan projects in Vietnam, as reported by Deal Street Asia on...

17 Nov Indonesia, CATL, and CMB International Set USD2bn Green EV Fund

Posted at 15:41 by Jordy Leo

The Indonesia Investment Authority (INA), the country's sovereign wealth fund, will set up a green electric vehicle (EV) fund worth USD2bn with Chinese battery giant Contemporary Amperex Technology (CATL) [300750:CH] and CMB International, an investment arm of China Merchants Bank (CMB) [3968:HK], as reported by...

17 Nov US to Tighten Rules on Methane Emissions from Flaring

Posted at 15:35 by Jordy Leo

The US Environmental Protection Agency (EPA) proposed a new rule that mandates regular inspections at all oil drilling sites to monitor their methane emissions, including those that emit less than three tons of methane a year, as reported by Bloomberg on November 11. In 2021,...

10 Nov New Yorkers Vote on USD4.2bn Municipal Bond for Climate Change Mitigation

Posted at 12:48 by Jordy Leo

Voters in New York State voted on the Clean Water, Clean Air, and Green Jobs Environment Bond Act, also known as Proposal 1, which allows for the sale of USD4.2bn in state bonds for climate change mitigation, as reported by Bloomberg on November 4. The...

10 Nov UK Announces Climate Support to Egypt, Kenyan, and Congo Basin

Posted at 12:29 by Jordy Leo

The UK will invest in clean energy projects in Egypt and Kenya as well as fund rainforest protection in the Congo basin as a step to support countries most affected by climate change, as reported by Bloomberg on November 7. Britain’s new prime minister Rishi...

10 Nov POSCO International to Invest in LNG, Green Energy after Merging with POSCO Energy

Posted at 12:19 by Jordy Leo

South Korea’s POSCO Group [005490:KS] merged its trading arm POSCO International [047050:KS] with POSCO Energy to launch an integrated energy company, as reported by the Korean Economic Daily on November 4. In January 2023, the two enterprises will be restructured into one specialized energy entity...

10 Nov Sustainable Bonds Issuance Remain Resilient despite Economic Recession

Posted at 11:50 by Jordy Leo

The global issuance of green, social, sustainability and sustainability-linked (GSSS) bonds fell 13% YoY to USD215bn in 3Q22 amid a challenging macroeconomic and geopolitical environment, while the share of GSSS bonds in the global bond market hit a record high of 16%, as reported by ESG...

10 Nov ISSB Requires Use of Climate-Related Scenario Analysis to Support Disclosure

Posted at 08:37 by Jordy Leo

The International Sustainability Standards Board (ISSB) unanimously confirmed that companies will be required to use climate-related scenario analysis to report on climate resilience and to identify climate-related risks and opportunities to support their disclosures, as reported by Financial Magazine on November 3. The ISSB will...

10 Nov Shell, Sinopec, Baowu, and BASF to Jointly Study East China CCUS project

Posted at 00:06 by Jordy Leo

British oil and gas major Shell [SHEL:US], China’s state-owned refiner Sinopec [0386:HK], Chinese steel manufacturer Baowu [600019:CH], and German chemical giant BASF [BAS:GR] have signed a non-binding Memorandum of Understanding (MoU) to study the feasibility of building an open-source carbon capture, utilization, and storage (CCUS)...

03 Nov Singapore Publishes New Agri-Food Standards for Green and Sustainable Produce

Posted at 12:23 by Jordy Leo

Singapore Manufacturing Federation and the Standards Development Organization drew up a series of new agri-food standards to provide farmers with green guidelines on their processes and consumers with better assurance, as reported by Strait Times on October 31. The standards are Singapore Standards (SS) 675:...

03 Nov Singapore’s UOB Stops Financing New Oil and Gas Projects in Net-Zero Push

Posted at 12:16 by Jordy Leo

Major Singaporean lender United Overseas Bank (UOB) [UOB:SP] vowed to end new project financing for upstream oil and gas projects after 2022, as reported by Strait Times on October 31. UOB claimed that it is the first bank in Asia to make such a promise....

03 Nov HKEX Launches International Voluntary Carbon Trading Platform

Posted at 12:04 by Jordy Leo

Hong Kong Exchange and Clearing Limited (HKEX) [0388:HK] started its first voluntary carbon credit trading platform, Core Climate, to support a transition to net-zero emissions, as reported by South China Morning Post on October 28. Core Climate allows participants to source, hold, trade, settle, and...