The Korea Fair Trade Commission (KFTC), South Korea's antitrust regulator, will impose a KRW20.2bn (USD16.9m) fine on Mercedes-Benz [DAI:GR] and its local subsidiaries for fabricating gas emission data of diesel passenger vehicles, as reported by Reuters on February 7. To manipulate emission data during certification...
The Shanghai Stock Exchange has announced on January 20 that it will ask the Science and Technology Innovation Board (STAR) market companies to disclose ESG information in annual reports beginning in 2022. As China has pledged to hit peak carbon emission before 2030 and achieve...
Singapore is evaluating its carbon tax level and will announce the revised rate for 2024 in its 2022 Budget on February 18, as reported by Straits Times on January 25. Singapore has set the carbon tax rate from 2019 to 2023 at SGD5 (USD3.71) per...
The Securities and Exchange Board of India (SEBI) put forward stricter environmental, social, and governance (ESG) rules on January 24, as reported by Bloomberg on the same day. The capital market watchdog intends to reduce the risk of greenwashing and misuse of ratings by companies....
IDG Capital [IDGCAZ:CH] and Hong Kong-based public energy utility Towngas [0003:HK] announced the establishment of the Zero-Carbon Technology Investment Fund on January 24, as reported by Pandaily on the same day. With an expected total scale of RMB10bn (USD1.6bn), the fund would raise RMB5bn in...
China’s top anti-graft watchdog, Central Commission for Discipline Inspection (CCDI), vowed to investigate and punish corrupt behaviors behind the disorderly expansion of capital and platform monopolies and cut the link between power and capital, as reported by Reuters on January 22. The commission also outlined...
South Korea's LG Energy Solution (LGES) and US automotive manufacturer General Motors [GM:US] will invest USD2.1bn to build their third joint battery plant in the US, as reported by Reuters on January 25. The two firms intend to invest equally in the new battery plant....
China’s State Council on January 24 published a new work plan for energy conservation and emission reduction as a part of the country’s 14th Five-Year Plan (FYP), as reported by SCMP on January 25. The work plan reiterated that China’s energy consumption per unit of...
Japan steelmaker Nippon Steel [5401:JP] announced on January 21 that it will buy two electric arc furnace steelmakers in Thailand, G Steel [GSTEEL:TB] and GJ Steel [GJS:TB], for a total of USD763m, as reported by Nikkei Asia on the same day. The Japanese company seeks...
China’s Ministry of Transport (MoT) has summoned four freight-delivery platforms over operational irregularities and sent reminders to four ride-hailing firms over driver protection, fair competition, and transportation safety, as reported by Reuters on January 21. The MoT has discussed drivers’ complaints regarding arbitrary pricing rules,...
Japan aims to release a preliminary estimate for the country’s “green GDP” by the end of March 2022, as reported by Reuters on January 24. The Japanese government has been drafting the new economic indicator in this fiscal year, which considers the impact of carbon...
Hyosung Group [004800:KS] announced on January 24 that it has signed a memorandum of understanding with the government of South Jeolla Province on hydrogen and renewable energy projects, as reported by the Korea Economic Daily on the same day. Hyosung is planning to invest KRW1tr...
Singapore intends to work with the United Arab Emirates (UAE) on developing methods to reduce greenhouse gas (GHG) emissions, including hydrogen fuel and carbon capture, utilization, and storage (CCUS), as reported by Strait Times on January 17. According to Singapore President Halimah Yacob’s virtual speech...
Thai Miner Banpu [BANPU:TB] committed that it will proceed to divest its coal business as planned and speed up its green transition, as reported by Nikkei Asia on January 14. Despite that the company sold up to 45m tons of coal in 2021, the same...
Singapore's Energy Retailer Tuas Power has formed a partnership with Masdar, a UAE-owned renewable energy company based in Abu Dhabi, as well as French renewable energy producer EDF Renewables [EDF:FP], and PT Indonesia Power to develop solar facilities in Indonesia with a maximum capacity of...
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