EDP Renewables (EDPR) [EDPR:PZ], the world’s fourth-largest renewable energy producer, will build a clean energy hub in Singapore for the Asia-Pacific (APAC) region with a planned investment of SGD10bn (USD7.4bn) by 2030, as reported by Reuters on February 24. On the same day, the Portuguese...
The Bank for International Settlements (BIS) announced the launch of a new green fund to finance environmentally beneficial projects in Asia and the Pacific, as reported by Reuters on February 15. The fund will invest in green bonds issued by Asian governments, financial institutions, and...
Australian iron ore billionaire Andrew Forrest announced that he will invest AUD3bn (USD2.19bn) through his company Squadron Energy to acquire a two-stage renewable energy project, as reported by Reuters on February 27. The project will be based in central Queensland and will develop wind, solar,...
The 2022 Beijing Winter Olympics event has ended in success. What was amazing about this Winter Olympics was not only the high level of event management but also its practices and breakthroughs in sustainability. The Beijing Organizing Committee for the 2022 Olympics and Paralympic Winter...
Singapore has priced its carbon tax at SGD25 (USD18.6) per ton for 2024 and 2025, a major increase from the 2019-2023 levels of SGD5 (USD3.71) per ton, as reported by Strait Times on February 18. According to Singapore’s FY22 Budget Statement, the carbon tax will...
SK Ecoplant, the green business unit of SK Group [210980:KS], has bought a 100% stake in Singapore-based electronic waste (e-waste) disposal and recycling firm TES Envirocorp (TES) with USD1bn, as reported by the Korea Economic Daily on February 21. The transaction will expand the South...
Thailand’s cabinet has approved a series of tax incentives to promote a shift to electric vehicles (EVs), as reported by Nikkei Asia on February 18. Incentives include lowering tariffs by 20% to 40% and cutting the excise on imported EVs to 2% from 8%. For...
JR East [9020:JP], Japan’s major passenger railway company, will launch a safety test for Japan’s first hydrogen-powered hybrid train in late March, as reported by Nikkei Asia on February 19. The train, dubbed Hybari, is equipped with a zero-emission system jointly developed by JR East,...
Japan is preparing for a massive field test that produces clean-burning hydrogen through artificial photosynthesis, as reported by Nikkei Asia on February 18. Precisely, the pilot will develop photocatalytic sheets capable of splitting water molecules into hydrogen and oxygen using sunlight and apply such sheets...
The Philippines will issue more than USD500m of green bonds to raise funds for clean energy projects, as reported by Reuters on February 18. The Southeast Asian country resolves to push forward its emission reduction target but requires financial support from wealthier countries to do...
China’s 14 regulatory departments, including the National Development and Reform Commission (NDRC) and the State Administration for Market Supervision (SAMR), published policies on February 18 to facilitate the recovery of service industries affected by epidemic prevention measures, as reported by South China Morning Post on...
Zhejiang provincial government has published a timeline for carbon peak and carbon neutrality, as reported by Sina on February 18. According to the timeline, Zhejiang set three targets for decarbonization. By 2025, the province intends to meet national targets for energy consumption per GDP and...
Korean Air [003490:KS] will use sustainable aviation fuel (SAF) on the Incheon-Paris route to cut carbon emissions, as reported by the Korea Herald on February 18. The airline has secured an agreement for SAF supply with an unnamed foreign company on February 1. However, the...
Singapore will issue its first green sovereign bond as part of a plan to access the market for USD26bn by 2030 to fund environmental projects, as reported by Bloomberg on February 18. According to a Finance Ministry official, this is an increase over last year's...
Stress testing is not an unfamiliar term to the financial sector. Ever since the global financial crisis, financial institutions have used stress tests as a key tool for assessing risks and resiliency of the financial system as well as individual institutions. With climate change increasingly...
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