Central state-owned enterprise China Huaneng Group (CHNG), German conglomerate Siemens’ [SIE:GR] Siemens Energy Sector, and Qinzhou Municipal Government of Guangxi Zhuang Autonomous Region (GZAR) signed a framework agreement for offshore wind energy development in Beibu Gulf, northwest of the South China Sea, as reported by...
Hong Kong Monetary Authority (HKMA) will collaborate with the International Finance Corporation (IFC) to set up a green commercial banking alliance, as reported by Xinhuanet on November 9. The alliance will gradually expand from Asia to other regions across the world and include banks, other...
Two months ago, a controversial report in Renwu magazine reported systemic exploitation of food delivery workers, also known as couriers, or riders. This occurred through built-in algorithms that companies such as Meituan [3690:HK] and Ele.me use, triggering widespread online outrage. According to the article, the riders...
With the deepening of China’s financial reform, ESG has been gaining the attention of Chinese government authorities, and policymakers and they are gradually releasing rules to promote ESG among financial institutions. Mainland ESG Disclosure Rules for Banks The former CBRC in 2007 issued guidance demanding that major...
CBIRC and PBoC issued draft interim measures for internet micro loan businesses on November 2 and will be soliciting public opinions for one month, according to the Chinese government’s official website on the following day. The measures specified that online microlending companies shall hold a...
China’s State Administration for Market Regulation (SAMR) is looking for public comments on newly drafted guidelines for governing online platforms, as reported by The Paper on November 10. The rules aim to stop internet platforms’ monopolistic behaviors and prevent them from engaging in unfair competition....
The Shenzhen Municipal People's Government has released the Mainland’s first set of regulations to govern local green finance development, which will come into effect on March 1, 2021, as reported by Sina Finance on November 9. Under the rules, listed financial companies that registered in...
MSCI [MSCI:US] recently published the newest ESG scores of 35 Chinese securities companies listed in A-share and H-share markets, as reported by People.cn on November 4. In comparison with 2019, 12 brokers received upgraded ratings and 22 firms remained the same this year, with only...
COVID-19 has given many investors a chance to step back and evaluate the longevity of companies in the face of sudden critical incidents. It has defined the need for ESG more so than any other event in history, especially for the mining sector. At its...
State Council issued its development plan for the new energy vehicle (NEV) industry which will span from 2021 to 2035 on November 2, as reported by Caixin on the same day. The Chinese government’s definition of NEVs include battery electric vehicles (BEV), plug-in hybrid electric...
Key points on China’s 14th Five-Year Plan From October 26 to 29, the Fifth Plenary Session of the 19th Communist Party of China (CPC) announced the upcoming publication of the 14th Five-Year Plan (FYP) (2021-2025) and a long-term goal for 2035 to be released sometime in...
Alibaba [BABA:US] has been evaluating methods to incorporate sustainability into the firm’s long-term strategy, looking to achieve business development in a socially responsible manner. The Chinese conglomerate has leveraged its tech and services to help global anti-pandemic efforts and accelerate economic recovery in the post-pandemic...
The Securities and Futures Commission (SFC) of Hong Kong is soliciting opinions about a new rule, which will ask fund managers to take climate-related risks into consideration and disclose relevant information in their investment and risk management processes, as reported by Caixin on October 30....
ESG has increasingly been on many investor’s radars, with more funds and index providers offering ESG options in their array of services. Blackrock took an assertive position earlier this year, alerting financial institutions around the globe of the standard it was planning to use, and...
“The change wrought by the COVID-19 crisis and its aftermath will teach us about priorities, resilience, and demand in ways that we did not dare test before,” said Michel Couillard, the Counselors of Real Estate (CRE). The CRE, an international advisory firm focusing on the...
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