China’s State Administration for Market Regulation (SAMR) fined food delivery giant Meituan [3690:HK] RMB3.44bn (USD533m) for its monopolistic tactic after a six-month investigation, as reported by Caixin on October 8. The fine accounts for 3% of Meituan’s 2020 domestic revenues, which was RMB114.7bn (USD17.8bn). The...
South Korea’s President Moon Jae-in on October 7 announced a goal of building up the country into a leading hydrogen economy in the world, making clean hydrogen as its future growth driver, as reported by the Korean Economic Daily on the same day. The Asian...
Climate change has displaced over 22.5 million people, more than 800 million people lack sufficient food, and over one million animal species are facing extinction. The Intergovernmental Panel on Climate Change (IPCC), a United Nations (UN) body for assessing the science related to climate change,...
Antitrust authority Australian Competition and Consumer Commission (ACCC) pointed out that Google is dominant in the Australian advertising supply chain, which hurts the interests of publishers, advertisers, and consumers, according to ABC News on September 29. ACCC accused Google of abusing its first-party data to...
Renewable energy developer Sun Cable received approval from Indonesia to build an electricity transmission cable cross through the country’s territorial waters, as reported by Bloomberg on September 23. With a recommended route for Sun Cable, the Indonesian government also issued the subsea survey permit to...
Japanese insurance company Tokio Marine Holdings [8766:JP] will stop financing and underwriting new coal mining projects both in Japan and abroad from October, as reported by Nikkei on September 27. Last year, Japan’s three largest insurance conglomerates, namely Tokio Marine, Sompo Japan [8630:JP], and Mitsui...
South Korean steel producer Hyundai Steel [004020:KS] and Samsung Electronics [005930:KS] announced on September 27 that the two companies developed a technology to manufacture steel by recycling the latter’s chip waste, as reported by the Korean Economic Daily on the same day. The two parties...
Delhi Metro Rail Corporation (DMRC), the leading transportation service provider in India, reported that it had earned green revenue of IND195m (around USD2.6m) by selling 3.55m carbon credits collected during a six-year period since 2012, according to ETEnergyworld.com on September 27. DMRC is the first...
China Green Bond Standard Committee (CGBSC) released the first operating guidance to regulate the domestic green bond evaluation market on September 24, according to the press on the National Association of Financial Market Institutional Investors (NAFMII) on the same day. The guidance will focus on...
Australian Prime Minister Scott Morrison declined to commit to a national coal phase-out, as reported by Reuters on September 26. At an interview following a summit at Washington, the Prime Minister said that emissions reduction plans were still in the works, and that he would...
Cathay Pacific [0293 :HK] pledges to increase the use of Sustainable Aviation Fuel (SAF) to 10% of its total fuel consumption by 2030 through its partnership with California-based low-carbon transportation fuel company Fulcrum BioEnergy, as the airline announced in a press release on September 22....
The global mining giant Rio Tinto [RIO:AU] declared its partnership with EDL Energy, an Australian sustainable energy producer, to enlarge its solar capacity by three times and add more battery storage to its Weipa operations in far North Queensland, as reported by PVTech on September...
Samsung C&T Group [028260:KS] signed a Hydrogen and BioFuel Business Partnership with S-Oil [010950:KS] to produce green Hydrogen together in Saudi Arabia and transit back to South Korea, as reported by the Korea Economic Daily on September 17. Under their agreement, S-Oil promised to offer...
Taiwan Semiconductor Manufacturing Company (TSMC) [TSM:US] has fired seven employees citing violation of the company’s core values, as reported by Taipei Times on September 23. TSMC is the world’s largest contract semiconductor company with many leading electronics companies as clients, such as Apple [AAPL:US], Intel...
Part 1 of this article introduced the origin and participants in the divestment movement. The decision to divest from fossil fuels may be driven by pressure from shareholders for environmental responsibility as well as considerations to dampen climate-related risks. With the pandemic starting in 2020, many...
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