Hong Kong’s Insurance Authority (IA) has taken over the affairs and assets of Target Insurance [6161:HK] and launched a probe into the firm’s financial condition, as reported by SCMP on January 7. The IA was able to conduct the takeover by exercising its power conferred...
Adani Group [ADE:IN], an Indian multinational conglomerate of energy and port, committed to leveraging green bonds to build the world’s largest renewable energy firm, as reported by Nikkei Asia on January 7. The company has already raised USD750m through green bonds in September 2021. Adani’s...
Hyundai Motor [005380:KS] is planning to raise the share of eco-friendly models in total car sales in the US to up to 50% by 2030, as reported by the Korea Economic Daily on January 10. The company’s eco-friendly models include all-electric, plug-in hybrid, gasoline hybrid,...
The Australian Renewable Energy Agency (ARENA) will offer AUD40m (USD28.7m) in research and development (R&D) funding to encourage the development of ultra-low-cost solar, as reported by PV Tech on January 10. The funding will be split into two streams, the first of which supports R&D...
Ping An Insurance (Group) Company of China, Ltd. [2318:HK] has published its 2020 Climate Risk Management Report in December 2021. Compared to the Group’s first climate risk report, which was published two years ago, Ping An’s second Climate Risk Management Report discussed more deeply how...
Korea Zinc [010130:KS] has reached a USD50m investment deal with Energy Vault, a Swiss energy storage company, to decarbonize Korea Zinc’s Australian refinery, as reported by Reuters on January 5. Through the investment, the South Korean firm intends to apply Energy Vault's advanced energy storage...
Japan’s Daikin Industries [6367:JP], the world’s top air-conditioner developer, will start selling cold-storage containers that could save 20% fuel consumption by 20% through inverters technology, as reported by Nikkei Asia on January 5. Prices for the Daikin containers will be about 10% higher than competing...
Taiwan’s largest pension fund, the Bureau of Labor Funds (BLF), will launch a global climate change-related stock mandate program in 2022, as reported by Reuters on January 5. The mandate with a value of USD2.3bn will refer to Paris Aligned climate-aligned indexes for the benchmark...
South Korea’s largest automaker Hyundai Motor Group [005380:KS] revealed its new business focuses of electrification, self-driving technologies, robotics, and urban air mobility (UAM), as reported by Korea Economic Daily on January 3. The company aims to become a superior eco-friendly auto brand and will speed...
Chinese online platform operators with more than 1m users must apply for cybersecurity checks before they go public abroad, according to a new amendment published by 13 government ministries, as reported by Global Times on January 4. The Ministry of Industry and Information Technology (MIIT)...
Japan is looking to allocate JPY5bn (USD43.4m) from its fiscal year’s supplementary budget to a feasibility study of undersea cables to support Hokkaido’s offshore wind power development, as reported by Nikkei Asia on January 2. The proposal aims to transmit the abundant clean energy from...
Reliance Industries [RIL:IN], the largest publicly traded company in India, has signed definitive agreements to acquire a 100% equity in UK sodium-ion battery technology firm Faradion for GBP100m (USD135m), as reported by Bloomberg on December 31. Moreover, Reliance will inject an additional GBP25m (USD33.75m) into...
India’s electric mobility solutions provider ETO Motors has reached an agreement with electricity distributors BSES Rajdhani Power, BSES Yamuna Power, and Tata Power [TPWR:IN] Delhi Distribution Limited (Tata Power-DDL) to install 3,000 electric vehicle (EV) charging stations in the Delhi National Capital Region (Delhi-NCR) over the...
China’s state-owned enterprises (SOEs) must decrease their energy consumption and carbon dioxide emissions per unit of output value by 15% and 18% by 2025 from 2020 levels, respectively, as reported by Reuters on December 30. Additionally, for state-owned electricity generation firms, renewable energy is supposed...
India’s Electric Vehicle (EV) start-up Earth Energy plans to spend USD13.4m over the next two years on production capacity expansion, as reported by Economic Times on December 30. According to Earth Energy CEO Rushii Senghani, the company will use the fund for boosting production and...
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