The Science Based Targets initiative (SBTi) launched its Net-Zero Standard for Corporates on October 28, right ahead of the UN COP26 climate conference commencing in Glasgow, the UK. The SBTi Standard is the first global certificate for corporates with net-zero targets and ambitions to establish...
Singapore’s financial watchdog, the Monetary Authority of Singapore (MAS), is planning to deal with greenwashing issues through regulations and technologies, as reported by Bloomberg on November 7. Banks in Singapore will have to conduct stress tests that included climate-related scenarios from 2022 while making required...
Australian iron ore mining company Fortescue Metals Group [FMG:AU] and US-based Universal Hydrogen, a company focusing on aviation decarbonization, have inked a preliminary agreement on green hydrogen supplies for the aviation industry, as reported by Reuters on November 10. According to the agreement, Fortescue will...
Independent power producer (IPP) Vector Green Energy and its US-based peer Evergreen Power signed a memorandum of understanding (MoU) to collaborate on greenfield development of about 300 megawatts (MW) of wind power projects in India, as reported by Economic Times on November 8. Prior to...
International mining company BHP [BHP:US] has inked a deal to sell its 80% stake in a metallurgical coal joint venture (JV) with Japan’s Mitsui [8031:JP] to Australian coal company Stanmore Resources [SMR:AU] for at most USD1.35bn, as reported by Reuters on November 8. Mitsui will...
China’s central bank PBoC launched a new monetary policy tool to incentivize lending for carbon emission reduction activities on November 8, as reported by Caixin on November 9. The new policy tool mandated that interest rates for carbon emission reduction loans should be close to...
South Korean refiner Hyundai Oilbank and Denmark’s emission reduction technology developer Haldor Topsoe signed a memorandum of understanding (MoU) on November 4 to join efforts on next-generation eco-friendly synthetic fuel development, as reported by Korea Economic Daily on November 5. The two companies will collaborate...
An Indonesian carbon capture and storage (CCS) project undertaken by Indonesian state-owned oil and gas company Pertamina and US energy giant ExxonMobil [XOM:US] is expected to cost USD500m, as reported by Reuters on November 8. Pertamina and ExxonMobil signed a memorandum of understanding (MoU) on...
The International Platform on Sustainable Finance (IPSF) on November 4 released the Common Ground Taxonomy, a green investment classification system built on the green taxonomies of the EU and China, as reported by Caixin Global on November 5. Developed over two years, the Common Ground...
During the week before the UN COP26, China published five key documents to address climate change issues, including two documents submitted to the UN. October 24: a guiding document on the country’s climate action and an action plan on peaking emissionsOctober 26: an action plan to...
India and the UK announced bilateral cooperation to enhance their International Solar Alliance (ISA) partnership by launching a new green grids initiative at the COP26 climate conference in Glasgow on November 2, according to the Economic Times on the same day. This initiative is the...
The IFRS Foundation launched the new International Sustainability Standards Board (ISSB) to develop a comprehensive global baseline of high-quality sustainability disclosure standards for investors’ information needs, according to the IFRS Foundation’s website on November 3. The ISSB will develop IFRS Sustainability Disclosure Standards, including disclosure...
Cambodia’s Minister of Mines and Energy Suy Sem stated that the country will not approve any new coal-fired power plants in addition to the existing ones in a meeting with the UK Ambassador Tina Redshaw before the UN COP26, as reported by Nikkei Asia on...
Japan’s Prime Minister Fumio Kishida announced at the UN COP26 on November 2 that the country will provide up to USD10bn in additional supports for the decarbonization of Asian countries over the next five years, based on the previous USD60bn committed, as reported by Kyodo...
China submitted its renewed nationally determined contributions (NDCs) and long-term emission control strategies to the United Nations (UN) on October 28, according to Caixin on the same day. According to China’s updated NDCs, China committed to achieving carbon neutrality by 2060, in addition to the...
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