The Group of Seven (G7) will expand an initiative to help developing countries, including Indonesia, Vietnam, India, and Senegal, phase out coal, as reported by Nikkei Asia on May 16. At the COP26 global climate summit last October, the G7 launched the initiative, offering USD8.5bn...
China’s State Administration for Market Regulation (SAMR) launched an antitrust investigation into China’s largest online academic database China National Knowledge Infrastructure (CNKI) on May 13, as reported by South China Morning Post on the same day. The probe came after China’s top research group, the...
US energy companies Chevron [CVX:US] and ExxonMobil [XOM:US] have separately inked agreements with Indonesia’s state-owned refiner PT Pertamina to explore business opportunities in Indonesia’s low-carbon technology development, as reported by Reuters on May 13. Chevron seeks potential business in new geothermal technology, carbon offsets through...
SK Group [034730:KS], South Korea’s second-largest conglomerate, formed a partnership with Bill Gates-backed nuclear power venture TerraPower to develop a small modular reactor (SMR) business, as reported by Korea Economic Daily on May 17. SK Group stated that it hopes to explore business opportunities brought...
Ant Group, an affiliate of Chinese tech giant Alibaba [BABA:US], has completed a sustainability-linked loan (SLL) agreement with BNP Paribas [BNP:FP], marking the first SLL deal in China’s technology sector, as reported by Bloomberg on May 16. The loan, offered as a revolving credit line,...
The Japanese government plans to set up a JPY20tr (USD155bn) fund to boost investment in new power grid technology, energy-saving homes, and other technologies that can decrease the country’s carbon footprint, as reported by Nikkei Asia on May 14. Specifically, smart grids which can adjust...
Hainan, the southeastern province of China, has drawn up a four-year development plan (2022-2025) to form an offshore wind power industry chain worth RMB50bn (USD7.36bn) by 2025, as reported by Sina on May 14. According to the plan, by 2025, the island province will build...
Japan Exchange Group (JPX) [8697:JP] and Japan’s Ministry of Economy, Trade, and Industry (METI) will establish an experimental market for carbon dioxide (CO₂) emissions trading, marking the first of its kind in Japan, as reported by Nikkei Asia on May 13. The market will be...
AirCarbon, a Singapore carbon exchange, is working with Germany’s main bourse to launch futures trading for carbon offsets, as reported by Bloomberg on May 8, 2022. The futures contracts will be traded on the European Energy Exchange beginning as early as this year. The offer...
Ashok Leyland's [AL:IN] electric vehicle (EV) arm Switch Mobility will invest INR10bn (USD USD129m) in a dedicated EV plant in South India, as reported by Economic Times on May 10. People familiar with the matter disclosed that the EV plant would be located in the...
HK Electric [2638:HK], one of Hong Kong’s two major electric generation companies, announced a plan to build a 600-hectare (1,482-acre) offshore wind farm southwest of Lamma Island, as reported by South China Morning Post on May 6. The wind farm will include 13 to 19...
Australia’s biggest natural gas exporter Woodside Petroleum’s [WPL:AU] has been criticized by proxy advisory firm Glass Lewis for its lagging climate strategy, as reported by Reuters on May 9. In light of this, Glass Lewis recommended that shareholders of Woodside vote against the company’s climate...
China’s regulators have set new rules on what kinds of services livestreaming platforms can offer minors, including a ban on tipping from users under 18 to protect minors’ physical and mental health, as reported by South China Morning Post on May 9. The rules were...
Chinese electric vehicle (EV) maker and battery producer BYD [1211:HK] is under investigation by authorities after residents accused its car factory in Changsha, Hunan Province of excessive emission and health hazards, as reported by Strait Times on May 9. Posts on China’s social media Weibo...
India is planning to reopen more than 100 coal mines previously considered financially unsustainable to address the nationwide power crisis caused by heatwave, as reported by Reuters on May 6. On the same day, India’s coal ministry’s top bureaucrat revealed that the country is expected...
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