Author: Jordy Leo

05 Jan Tesla Fined by South Korea Antitrust Watchdog for Alleged Advertising Violations

Posted at 14:18 by Jordy Leo

The South Korea Fair Trade Commission (KFTC) will impose a fine of KRW2.85bn (USD2.2m) on Tesla [TSLA:US] for alleged violation of advertising laws, as reported by Reuters on January 3. According to a KFTC statement, Tesla had exaggerated the driving range, charging speed, and fuel...

05 Jan IFRS Foundation to Open Beijing Office

Posted at 14:10 by Jordy Leo

The International Financial Reporting Standards (IFRS) Foundation trustees signed a Memorandum of Understanding (MoU) with the Ministry of Finance (MoF) of China to establish an IFRS Foundation office in Beijing, as reported by ESG Today on December 30. The office, set to open in mid-2023,...

05 Jan Britain Mulls Joining Amazon Fund to Help Brazil Curb Deforestation

Posted at 14:04 by Jordy Leo

Britain is considering joining the Amazon Fund, the biggest fund ever created for forest conservation, to support rainforest sustainability, as reported by Reuters on January 3. British environment minister Therese Coffey stated that the British government was already in talks with the fund's current partners,...

05 Jan Mizuho Develops Verification Framework to Evaluate Clients’ Climate Transition Strategies

Posted at 14:00 by Jordy Leo

Mizuho Financial Group [8411:JP] has developed a framework to verify the credibility and transparency of clients’ transition strategies, with an aim to “more proactively supply the necessary financing for the clients’ business structure transformation”, as reported by ESG Today on January 3. The framework is...

22 Dec Australian Governments to Invest USD5.2bn in Renewable Energy Transmission

Posted at 11:18 by Jordy Leo

The Australian federal and New South Wales (NSW) state governments will invest a total of USD5.2bn in the development of new electricity transmission infrastructure to increase the use of renewable power, as reported by Yahoo on December 21. Of the USD5.2bn investment, USD3.1bn will be...

22 Dec 3M to Exit PFAS Manufacturing by 2025

Posted at 11:10 by Jordy Leo

US industrial conglomerate 3M [MMM:US] announced that it will stop the manufacturing and use of perfluoroalkyl and polyfluoroalkyl substances (PFAS), widely known as “forever chemicals”, across its product portfolio by the end of 2025, as reported by Reuters on December 20. 3M declared that the...

21 Dec EU to Overhaul Carbon Market, Cutting Carbon Emission Permits

Posted at 21:02 by Jordy Leo

European Union negotiators agreed on a deal to overhaul the bloc’s carbon market by cutting emissions faster and imposing new carbon costs on fuels used in road transport and buildings from 2027, as reported by Reuters on December 18. Under the new deal, sectors covered...

21 Dec Australia Establishes First Offshore Wind Farm Zone on Gippsland Coast

Posted at 20:55 by Jordy Leo

Australia established its first offshore wind farm zone off the southern coast of the country, where several long-awaited large-scale wind power plants will be constructed, as reported by Reuters on December 19. A USD6bn project, known as Star of the South, will be established at...

21 Dec Siam Cement to Allocate USD2.89bn for Renewable Energy and Decarbonization

Posted at 20:50 by Jordy Leo

Siam Cement Group (SCG) [SCC:TB], Thailand’s largest building material firm, announced a plan to invest THB100bn (USD2.89bn) over the next five years in areas such as renewable energy, while continuing efforts to decarbonize its main building materials and chemicals businesses, as reported by Nikkei Asia...

15 Dec Iberdrola to Achieve Net Positive Impact on Biodiversity by 2030

Posted at 12:48 by Jordy Leo

Spanish multinational electric utility company Iberdrola [IBE:SM] released its new Biodiversity Plan 2030, in which it pledged to achieve a net positive impact on biodiversity by 2030, as reported by ESG Today on December 12. Under the plan, the company will set up an accounting...

15 Dec Australia Mulls Mandatory Climate Disclosure Rules for Large Entities

Posted at 12:44 by Jordy Leo

The Australian government released a consultation paper on the development of a climate risk disclosure framework for businesses and financial institutions, with plans to make the reporting rules mandatory for large entities, as reported by ESG Today on December 12. The consultation paper covers the...

15 Dec JetBlue to Turn from Carbon Offsets to Sustainable Aviation Fuels

Posted at 12:37 by Jordy Leo

JetBlue [JBLU:US], a US budget airline, has decided to end its carbon offset program for domestic flights and instead turn to sustainable aviation fuels (SAF), in an effort to halve its per-seat emissions by 2035 from 2019 levels, as reported by The Verge on December 10. In 2020,...

14 Dec China Central Bank to Enhance Green Finance Regulation

Posted at 22:27 by Jordy Leo

China’s central bank warned that climate change and a global transition to a low-carbon economy could bring risks to domestic financial institutions and called for stronger regulation on green finance, as reported by Reuters on December 10. Xuan Changneng, deputy governor of the People's Bank...

14 Dec US FTC Sues Microsoft to Prevent USD69bn Acquisition of Activision Blizzard

Posted at 22:24 by Jordy Leo

The US Federal Trade Commission (FTC), which commits to preventing Americans from fraudulent, deceptive, and unfair business practices, seeks to block technology giant Microsoft’s [MSFT:US] USD69bn bid for leading video game developer Activision Blizzard [ATVI:US], as reported by Yahoo on December 9. The FTC has...

14 Dec Broadcom to Receive EU Antitrust Investigation over USD61bn Takeover of VMware

Posted at 22:17 by Jordy Leo

US chipmaker Broadcom [AVGO:US] is set to face a setback in its USD61bn deal to acquire cloud computing firm VMware [VMW:US] as EU antitrust regulators intend to launch a full-scale investigation into the bid, as reported by Reuters on December 9. The EU competition watchdog...