Hyundai Motor Group (HMG) and LG’s [003550:KS] battery subsidiary LG Energy Solutions (LGES) on July 29 announced to establish a 50-50 joint venture (JV) for an electric vehicle (EV) battery factory in Indonesia with a combined investment of USD1.1bn, as reported by Reuters on the...
A recent survey by South Korea’s Ministry of Employment and Labor found that over half of employees at Naver [035420:KS], the country’s leading internet giant, had been bullied at work at least once in the past six months, reported The Korea Herald on July 28....
Emissions trading scheme (ETS), also commonly called carbon market, is regarded as an effective policy measure to incentivize reduction of greenhouse gas (GHG) emissions. Generally, governments or other designated authorities determine a limit on GHG emissions for participants in the carbon markets and allocate emissions...
Japan plans to put its largest offshore wind-powered hydrogen plant into operations in the year ended March 2024, reported Nikkei Asia on July 27. The plant, located on the northern island of Hokkaido, will produce about 550 tons of hydrogen per year, equivalent to powering...
Singapore’s sovereign wealth fund (SWF) GIC announced an SGD326m (USD240m) investment in Arctic Green Energy, a Singapore-based renewable energy company with a focus on urban heating and cooling, as reported by The Straits Times on July 23. Arctic Green Energy will use the proceeds for...
LG Display [LPL:US], a subsidiary of South Korean conglomerate LG [003550:KS] that focuses on manufacturing display panels, announced on July 26 that its business offices will use all renewable energy, as reported by the Korea Economic Daily later that day. After the announcement, renewable energy...
Deputy governor of PBoC, Fan Yifei, indicated that the central bank will guide pension funds and other long-term funds into ESG investing with an aim to diversify capital sources of the domestic green bond market, according to Xinhuanet on July 26. At the Global Wealth...
Thai Union Group PCL [TU:TB], a leading seafood company based in Thailand, on July 20 launched a senior, unsecured sustainability-linked bond (SLB), totaling THB5bn (USD150m), as reported by SeafoodSource on July 22. The bond has a 2.47% interest rate with a duration of seven years....
Australian beef producer Stockyard Group secured a three-year sustainability-linked loan (SLL) from Commonwealth Bank, according to the bank’s press release on July 22. This is the first SLL issued in the Australian agriculture industry, while the two parties did not disclose the lending amount. As...
BHP [BHP:US], a Melbourne-based mining, metal, and petroleum conglomerate, signed a nickel supply deal with Tesla [TSLA:US] on July 22, as reported by Caixin on July 23. Under the agreement, Tesla would procure nickel from BHP’s subsidiary Nickel West for its batteries and electric vehicles...
Malayan Banking Bhd (Maybank) [MAY:MK], Malaysia's largest bank by assets, said on July 19 to implement a USD11.88bn sustainable financing framework this year, as reported by CNA on the same day. Through the scheme, the bank will increase the scale of green and sustainable bonds...
Japan’s industry ministry released an energy policy draft on July 21 that set a new target of 36% to 38% renewables in the country’s electricity mix by 2030, up from the previous target of 22% to 24%, as reported by Reuters later that day. The...
The Bank of Japan (BOJ) announced on July 16 that it will start using its USD70bn foreign reserves to buy green bonds as part of efforts to promote global investment in activities aimed at combating climate change, as reported by Reuters on July 16. BOJ...
Chinese ride-hailing giant Didi [DIDI:US] debuted on the New York Stock Exchange (NYSE) on June 30 in low profile. In its IPO, Didi raised USD4.4bn and became the biggest IPO in 2021 so far, giving it a market value of around USD68bn. However, on July...
Sembcorp Floating Solar Singapore and Singapore’s national water agency PUB officially opened the country's first large-scale floating solar farm at Tengeh Reservoir on July 14, as reported by CNA on the same day. The Sembcorp Tengeh Floating Solar Farm occupies an area of 45 hectares...
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