The state of California has sued 18 material manufacturing companies, including 3M [MMM:US] and DuPont De Nemours Inc [DWDP:US], over water contamination from products containing per- and polyfluoroalkyl (PFAS) substances, as reported by Reuters on November 11. California Attorney General Rob Bonta said that these...
NTT Data Spain, a subsidiary of Japanese information technology service provider NTT Data Corporation [9613:JP], was fined EUR64,000 (USD64,300) for violating the European Union’s General Data Protection Regulation (GDPR), as reported by Nikkei Asia on November 11. NTT Data Spain was accused of leaking an...
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...
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...
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...
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...
Korea Shipbuilding & Offshore Engineering (KSOE) [009540:KS], a holding company of Hyundai Heavy Industries Group [267250:KS] in the shipbuilding sector, signed an agreement to invest USD30m in TerraPower, a US nuclear reactor designer and developer founded by Bill Gates, to develop small modular reactor (SMR)...
The Australian Competition and Consumer Commission (ACCC) has initiated federal court proceedings against Dell Australia [0356592D:AU], a wholly-owned subsidiary of US computer company Dell Technologies [DELL:AV], for inflating the discounts of add-on monitors, as reported by Reuters on November 4. The ACCC accused Dell Australia...
Delegates from nearly 200 countries will gather at the United Nations’ COP27 climate summit in Egypt to discuss whether wealthy countries should compensate poor nations for climate-related “loss and damage,” as reported by Reuters on November 6. As climate change worsens, countries are facing an...
Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) and Taiwan’s electronics manufacturer Hon Hai Precision Industry [2354:TT], more commonly known as “Foxconn,” will set up a joint venture called Ceer to produce electric vehicles (EV), as reported by Reuters on November 4. The joint...
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...
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)...
Anxiety over proper ESG information disclosure is rising among companies. What information must be disclosed? Should companies tell the truth when they realize that they are not doing well? Should ESG issues be stated again when corrections and rectifications have been implemented? These problems have...
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:...
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....
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