Seven & i Holdings [3382:JP], operator of the 7-Eleven convenience store chain, is seeking to have members from outside the firm make up the majority of its board, as reported by Nikkei Asia on March 28. The Japanese retail behemoth plans to have at least...
Part I of this article has introduced the concept of “blue carbon”, its application in China, and China’s policy rollout that enabled the establishment of the international carbon trading center (the Center) in Hainan. This part is going to discuss international blue carbon trading regulations...
According to the officials of the Hainan provincial government, the Hainan International Carbon Emission Trading Center (the Hainan Center) has been approved to set up in the Free Trade Port in Sanya. The Center is scheduled to start operation in 2H22 and will provide a...
BAIC Motor [1958:HK] and Hyundai Motor [005380:KS] agreed to inject USD942m in their joint venture (JV) Beijing Hyundai, each contributing 50% of the fund, as reported by Korea Economic Daily on March 20. Beijing Hyundai's registered capital will rise to RMB18.95bn (USD2.98bn) after the transaction....
Suzuki Motor [7269:JP] announced a USD1.37bn investment plan to increase its electric vehicle (EV) and battery manufacturing capacity in India through its local unit, Maruti Suzuki India [MSIL:IN], as reported by Reuters on March 20. The plan includes an INR31bn (USD405.4m) investment to increase EV...
Australian Competition & Consumer Commission (ACCC), the country’s competition regulator, has filed a lawsuit against Facebook’s [FB:US] parent company Meta Platforms for engaging in false or misleading cryptocurrency advertising in Australia, as reported by Nikkei Asia on March 18. Meta was accused of permitting advertisements...
Singapore’s Energy Market Authority (EMA) reported on March 22 that the country could reduce carbon emissions from the power sector to achieve net-zero by 2050, as reported by Strait Times on the same day. The report outlined measures to realize this target, including increasing clean...
SK Trading International, a unit of South Korea’s largest oil refiner SK Innovation [096770:KS], will purchase up to 200,000 barrels of net-zero oil per year for five years from US oil producer Occidental Petroleum [OXY:US], as reported by Bloomberg on March 22. To achieve net-zero...
Starbucks [SBUX:US] will debut reusable plastic cups for iced drinks for 106 of its 1,700 stores in Japan starting on April 18, as reported by Nikkei Asia on March 17. The multinational coffee chain announced that it will further reduce the use of disposable plastics...
Singapore and Indonesia signed a memorandum of understanding (MOU) regarding partnerships on climate change and sustainability on March 21, as reported by Strait Times on the same day. Under the MOU, the two countries will collaborate in four key areas, including carbon pricing and markets,...
India is mulling a revamp of the country’s production-linked incentive (PLI) scheme for the solar power equipment sector to promote manufacturing of all solar components and include more players, as reported by Economic Times on March 18. Specifically, the PLI scheme could be split into...
The Australian state of Queensland will launch a USD1.8bn project for the state’s southeast region to improve its local transport network and digital network, as reported by ABC News on March 21. The investment is expected to produce over 2,000 jobs, with capital support from...
China will set up an international carbon emission trading center at the Hainan Free Trade Port (FTP), as reported by China Daily on March 22. The trading center will provide a capital support platform for various kinds of carbon products to promote emission reduction and...
On March 15, 2022, the European Council reached an agreement on the Carbon Border Adjustment Mechanism (CBAM) regulation. The mechanism stipulates that the EU will levy taxes on cement, aluminum, fertilizer, iron and steel, and other products imported from countries and regions with relatively loose...
SK Geo Centric, a petrochemical unit of SK Innovation [096770:KS], has invested KRW68bn (USD55m) in US plastic waste recycling firm PureCycle Technologies, as reported by the Korea Economic Daily on March 15. PureCycle has a specialized proprietary technology to recycle Polypropylene (PP), a plastic material...
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