South Korean automaker Hyundai Motor [005380:KS] will invest KRW16.2tr (USD12.8bn) in all-electric and other eco-friendly vehicles, including hydrogen cars, plug-in hybrids, and purpose-built vehicles (PBVs), as reported by Korea Economic Daily on May 25. This is part of the group’s plan of injecting KRW63tr (USD50bn)...
SK Ecoplant, the green business unit of SK Group [210980:KS], signed an agreement with the Malaysian government’s sovereign wealth fund Khazanah Nasional Berhad to purchase a 30% stake in Cenviro Sdn Bhd, Malaysia’s first integrated waste management company, as reported by Korean Economic Daily on...
China’s leading supply chain service provider JD.com [JD:US] published its 2021 ESG report on May 24 aligning with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) for the first time, as reported by JD Corporate Blog on the same day. In 2019, JD.com...
Japan’s Mitsui [8031:JP], Mitsubishi [8058:JP], and France’s TotalEnergies [TTE:FP] have signed an agreement with US energy company Sempra Energy’s [SRE:US] natural gas unit to develop a carbon capture project in Louisiana, as reported by Reuters on May 23. According to Sempra, the project, named Hackberry...
COFCO International, affiliated with China’s largest food processor COFCO Group, pledged to eliminate deforestation and land conversion in its soy supply chain by 2030 in environmentally sensitive regions of South America such as the Amazon and Cerrado, as reported by Reuters on May 23. The...
Investment management firm VanEck will list the first carbon credit exchange traded fund (ETF) on the Australian Securities Exchange (ASX), as reported by the Australian Financial Review on May 24. The fund, VanEck Global Carbon Credits ETF (Synthetic), may begin trading under the ticker XC02...
Japan has laid out a plan on May 19 to issue JPY20tr (USD157bn) in green transition bonds to accelerate its transition to carbon neutrality, as reported by Reuters on the same day. Details of the green transition bonds will undergo further discussion later this year....
Thai coal miner Banpu Public Company [BANPU:TB] has purchased the natural gas and midstream gas business from XTO Energy and Barnett Gathering, two subsidiaries of the US energy giant ExxonMobil [XOM:US], as reported by Nikkei Asia on May 21. The USD750m deal is expected to...
South Korea’s major chemical firm Lotte Chemical [011170:KS] plans to invest KRW10tr (USD7.9bn) into new businesses in battery materials and hydrogen energy by 2030, as reported by Nikkei Asia on May 20. Specifically, the company will allocate KRW4tr (USD3.2bn) to the battery material businesses and...
Japanese Prime Minister Fumio Kishida promised on May 20 to mandate big enterprises to report gender wage gaps, as reported by Reuters on the same day. The new rules, aiming to solve long-term gender-based inequalities, will cover 17,650 companies with more than 301 employees. The...
The United States Securities and Exchange Commission (SEC) released its long-anticipated proposal for climate-related financial disclosure in March 2022. The proposal is historic as it marks the first effort by any US financial regulator to standardize climate-related disclosure. Back in June 2021, the finance ministers and...
The BRICS countries released a joint statement on May 13 during the virtual BRICS High-level Meeting on Climate Change, as reported by Xinhua on May 14. The meeting was chaired by Huang Runqiu, Minister of China’s Ministry of Ecology and Environment (MEE), and attended by...
Tata Power [TPWR:IN], India’s largest power generation company, has signed a memorandum of understanding (MoU) with Hyundai Motor’s [005380:KS] local arm Hyundai Motor India Limited (HMIL) on May 17, as reported by the Economic Times on the same day. The MoU establishes that the two parties will...
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...
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