South Korean steel producer Hyundai Steel [004020:KS] and Samsung Electronics [005930:KS] announced on September 27 that the two companies developed a technology to manufacture steel by recycling the latter’s chip waste, as reported by the Korean Economic Daily on the same day. The two parties...
Delhi Metro Rail Corporation (DMRC), the leading transportation service provider in India, reported that it had earned green revenue of IND195m (around USD2.6m) by selling 3.55m carbon credits collected during a six-year period since 2012, according to ETEnergyworld.com on September 27. DMRC is the first...
China Green Bond Standard Committee (CGBSC) released the first operating guidance to regulate the domestic green bond evaluation market on September 24, according to the press on the National Association of Financial Market Institutional Investors (NAFMII) on the same day. The guidance will focus on...
Australian Prime Minister Scott Morrison declined to commit to a national coal phase-out, as reported by Reuters on September 26. At an interview following a summit at Washington, the Prime Minister said that emissions reduction plans were still in the works, and that he would...
Cathay Pacific [0293 :HK] pledges to increase the use of Sustainable Aviation Fuel (SAF) to 10% of its total fuel consumption by 2030 through its partnership with California-based low-carbon transportation fuel company Fulcrum BioEnergy, as the airline announced in a press release on September 22....
The global mining giant Rio Tinto [RIO:AU] declared its partnership with EDL Energy, an Australian sustainable energy producer, to enlarge its solar capacity by three times and add more battery storage to its Weipa operations in far North Queensland, as reported by PVTech on September...
Samsung C&T Group [028260:KS] signed a Hydrogen and BioFuel Business Partnership with S-Oil [010950:KS] to produce green Hydrogen together in Saudi Arabia and transit back to South Korea, as reported by the Korea Economic Daily on September 17. Under their agreement, S-Oil promised to offer...
Taiwan Semiconductor Manufacturing Company (TSMC) [TSM:US] has fired seven employees citing violation of the company’s core values, as reported by Taipei Times on September 23. TSMC is the world’s largest contract semiconductor company with many leading electronics companies as clients, such as Apple [AAPL:US], Intel...
Part 1 of this article introduced the origin and participants in the divestment movement. The decision to divest from fossil fuels may be driven by pressure from shareholders for environmental responsibility as well as considerations to dampen climate-related risks. With the pandemic starting in 2020, many...
President Xi Jinping announced that China will no longer build new coal-fired power projects abroad at the opening meeting of the 76th United Nations General Assembly (UNGA) on September 21, as reported by The Strait Times on September 22. The president also repeated last year’s...
Chinese photovoltaic (PV) power developer Sungrow [300274:CH] said the 58.5-megawatt (MW) floating solar farm in Ubon Ratchathani, Thailand, has been connected to the grid for operations, according to PV-Tech on September 17. This is Thailand’s largest hydro-floating PV plant at present, which is also combined...
South Korea’s KB Financial Group [KB:US] and Shinhan Financial Group [SHG:US] jointly spent KRW80bn (USD68m) on a 45% stake of Sweden’s Gubbaberget Wind Farm through their Global Green Energy Partnership Fund, as reported by the Korea Economic Daily on September 17. Specifically, KB Kookmin Bank,...
The Commonwealth Bank of Australia (CBA) announced that it will issue a green bond of AUD202m to support the Charter Hall’s 480 Swan Street development in Richmond, Victoria, according to the CBA’s newsletter on September 14. Charter Hall plans to design the commercial office for...
MSCI has announced the launch of its Implied Temperature Rise solution for investors to track how companies align with global temperature targets, according to Sina Finance on September 15. The company-level dataset covers nearly 10,000 listed companies based on the MSCI ACWI Investable Market Index...
The years of 2020 and 2021 saw a wave of financial institutions and funds announcing plans to divest from coal and other fossil fuel investments. From global asset managers to university endowments to pensions and sovereign wealth funds, financial institutions are taking a more serious...
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