"Empowering Consumers: How Green Seal and Legal Actions are Combating Misleading Eco-Friendly Claims"
Accelerating transition to low - carbon society
The ESG Symposium 2024, attended by over 3,500 representatives from government, private sector, and civil society, aims to expedite the transition towards a low-carbon society. The plan focuses on four key approaches: unlocking legal and regulatory barriers, promoting access to green finance, developing technology and infrastructure, and strengthening small and medium-size enterprises’ adaptability and capability. Thailand s Deputy Prime Minister, Prasert Jantararuangthong, emphasized the importance of collaboration under the ESG strategy to create a balanced economy with social and environmental governance. Thailand aims to position itself as the ASEAN center for carbon credit trading through the Thai Stock Exchange, enhancing energy security for domestic consumption and exports within ASEAN. SCG, as a mentor, will provide support and foster cooperation between various sectors. Thammasak Sethaudom, president and CEO of SCG, highlighted the importance of developing knowledge and understanding of clean energy, promoting innovations and technologies, and establishing domestic agencies to certify standards. The Saraburi Sandbox, Thailand s first low-carbon model city, will serve as a pilot area to address policy, industrial system, and green infrastructure challenges. In Vietnam, local authorities are preparing for a carbon credit market development scheme, with plans to establish a pilot carbon trading platform from next year. This initiative will incorporate public-private-people partnerships to implement the four proposals and create a low-carbon city in a real-world setting. The government s promotion of decentralizing decision-making and operations to local agencies will help reduce procedural steps and ambiguities in project implementation, accelerating progress across all fronts.
Source: vir.com.vn
Published on 2024-10-01
Achieving sustainability goals in the era of AI
Artificial intelligence (AI) is increasingly being integrated into our daily lives, with its adoption and impact becoming inevitable. In South Africa, 91% of IT leaders believe AI and GenAI will significantly transform their industries, potentially boosting productivity by 60% to 70%. However, the energy intensity of AI poses a challenge, as its adoption could lead to substantial increases in energy use and emissions, potentially hindering environmental performance targets. To address this challenge, businesses must adopt energy-efficient infrastructure and integrate AI in a way that aligns with sustainability and energy efficiency objectives. This includes monitoring and controlling carbon footprints, reducing physical footprints, and optimizing IT environments. The adoption of the as a Service (aaS) model can also help companies manage their IT environments more efficiently, reducing energy costs and carbon footprints. Moreover, modern devices with AI-enabled features can advance energy efficiency by adjusting performance to meet peak worktimes and extending battery life through intelligent power-saving features. Regular refresh cycles can also ensure that businesses operate with the latest energy-efficiency technology. To fully leverage AI for sustainability, businesses must adopt a holistic approach, bringing leaders from across the organization together to collaborate and integrate AI-led strategies into every facet of their operations. This will enable them to chart a roadmap to sustainability and drive the future of work while maintaining data sovereignty and ensuring optimal return on investment.
Source: it-online.co.za
Published on 2024-10-01
Alaska Energy Metals Completes Inaugural Diamond Core Drilling Program and DHEM Surveys at the Canwell Property , Alaska , united states
Alaska Energy Metals Corp. (AEMC) has completed drilling at the Canwell block of claims within its Nikolai Project in Alaska, targeting potential mineral deposits near the Eureka deposit. The drilling program, which included three holes totaling 1,048 meters, reached planned depths at Odie and Upper Canwell, while the Emerick prospect encountered poor ground conditions and was halted early. All core samples have been logged, cut, and sent to SGS Burnaby for analysis, with results expected later in the fourth quarter of 2024. In addition to the drilling program, DOWNHOLE ELECTROMAGNETIC SURVEYS (DHEM) were conducted on one drill hole at the Upper Canwell prospect by TMC Géophysique of Val-d Or, Quebec. These surveys aim to identify mineralized zones around the drill holes and assist in planning future drilling. The final survey results and interpretations will be available later in the same quarter. AEMC has also issued one million shares and paid $125,000 to the Canwell claim block owner, with an option to purchase a 100% interest in the claims. To complete the option, AEMC will need to make a further cash and share payment of $250,000 and additional exploration expenditures of approximately $1.2 million. Gabriel Graf, AEMC s Chief Geoscientist, has reviewed and approved the technical disclosure in this news release. The company is focused on developing the Eureka deposit, which contains nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. AEMC also holds a secondary project in western Quebec. The company emphasizes the importance of environmental performance, carbon mitigation, and responsible management of human and financial capital. Forward-looking statements in the news release are subject to known and unknown risks, uncertainties, and factors that may cause actual results to differ materially from those expressed or implied. For further information, visit: https://alaskaenergymetals.com/ ABOUT ALASKA ENERGY M
Source: goldseiten.de
Published on 2024-10-01
Anti - ESG backlash in US is overstated , JPMorgan exec says
JPMorgan s global head of sustainable solutions, Chuka Umunna, addressed the impact of a political backlash against environmental, social, and governance (ESG) issues in the United States at the Reuters Energy Transition conference in London. Umunna argued that the backlash is overstated and has little effect on the U.S. s growing green economy. Despite some companies and investors reducing their focus on sustainability, they continue to move money similarly to their European counterparts. Umunna noted that the U.S. is not significantly retreating from ESG due to the weaponization of the term, but rather due to more complex factors. In recent times, U.S.-based investors have distanced themselves from global climate coalitions amid a tense political environment, with some Republican politicians claiming that membership could violate antitrust rules. However, Umunna pointed out that less than 2% of anti-ESG resolutions proposed during the latest proxy-voting season passed, and less than 10% of anti-ESG bills were enacted at the state level. While investment firms may adjust their pitches in Republican states, the large global clients of JPMorgan s fund arm generally adhere to a single investment stewardship policy worldwide. Umunna also highlighted that companies in the U.S. seeking investment or bank loan support face greater challenges from inflation, supply-chain issues, and high interest rates. He questioned whether the noise surrounding the ESG backlash necessarily depresses valuations, suggesting that more fundamental issues are at play. In summary, Umunna believes that the political backlash against ESG issues in the U.S. is overstated and has little impact on the country s burgeoning green economy. He emphasized that companies and investors continue to prioritize sustainability, and the challenges they face are more rooted in economic factors like inflation and supply-chain issues.
Source: marketscreener.com
Published on 2024-10-01
ARGAN : Third quarter 2024 rental income
ARGAN, a French real estate company specializing in premium warehouse development and rental, reported a strong 9% increase in rental income over nine months, reaching €149 million by September 2024. The company s growth is driven by a 4.6% rent indexation and the full-year impact of 2023 and 2024 deliveries. ARGAN s portfolio, consisting of 100 warehouses across France, is valued at €3.8 billion with a yearly rental income of approximately €200 million. ARGAN has delivered 5 new sites, all pre-let and located in prime locations. These new warehouses, totaling 170,000 sq.m, are expected to generate an average yield of around 7%. The company has also raised its annual rental income target to €198 million for 2024, an increase of 8% compared to 2023. In addition, ARGAN is finalizing the sale of assets worth about €78 million, including a logistics platform in Caen and a property in the Paris region. The company s financial calendar for 2025 includes the publication of the press release after the stock exchange closes on January 3, the announcement of annual results on January 16, and a general assembly on March 20. ARGAN s client-centric approach, profitability, tight control over debt, and sustainability are central to its business model. The company s Aut0nom® concept, a Net Zero warehouse, demonstrates its commitment to environmental responsibility. As of June 30, 2024, ARGAN s portfolio was valued at €3.8 billion, with a yearly rental income of approximately €200 million. The company is listed on Euronext Paris and included in various indices. For more information regarding ARGAN s 2024 financial targets, refer to the press release dated July 24, 2024.
Source: globenewswire.com
Published on 2024-10-01
ASEAN Legal Alliance hosts business forum on global trends
The ASEAN Legal Alliance (ALA) and Warwick Legal Network (WLN) held their Annual Business Forum in Bangkok, focusing on law, business, and sustainability. The event, hosted at Pullman Bangkok King Power, featured discussions on ESG, digital transformation, and investment opportunities. The forum, which took place from September 26-27, 2024, was notable for being a carbon-neutral event, with Uwork999 Co., Ltd. providing sponsorship for carbon credits. The conference began with The 2030 SDGs Game, led by Dr. Scott Smith, which challenged participants to think critically about the interconnected nature of the Sustainable Development Goals. His Excellency Chuan Leekpai, former Prime Minister of Thailand, emphasized the importance of a strong rule of law for businesses to thrive during periods of rapid transformation. The forum included sessions on Thailand s investment opportunities, with panelists discussing investment incentives and advancements in technology and infrastructure. ALA reaffirmed its mission to support regional integration in the context of the ASEAN Economic Community (AEC), and its partnership with WLN strengthened its ability to assist clients globally. The conference also highlighted the role of sustainability and technology in law, with discussions on ESG standards, AI, and digital transformation. Industry leaders shared insights on how ESG considerations are reshaping corporate governance and legal compliance. Aloysius Wee, Managing Partner of AQUINAS Law Alliance and Chairman of the ASEAN Legal Alliance, remarked on the timeliness of the forum, emphasizing the need for legal professionals and business leaders to embrace global trends like ESG, digital transformation, and AI. The forum concluded with discussions on actionable topics, including intellectual property in the digital age, cross-border corporate law, and sustainable real estate investment. These conversations are expected to shape the future of law and business within ASEAN and beyond.
Source: traveldailynews.asia
Published on 2024-10-01
CIMB joins hands with CGC to aid SMEs
CIMB Bank Bhd is on track to surpass its RM50 billion commitment to the SME sector by 2024, as stated by its co-chief executive officer, Ahmad Shazli Kamarulzaman. The bank has been supporting local SMEs since 2019 and has entered into a partnership with Credit Guarantee Corp Malaysia Bhd (CGC) to offer an additional RM1.5 billion for SMEs through CGC s portfolio guarantee scheme. This partnership will increase CIMB Bank s working-capital financing to RM6.5 billion, which will be used to assist SMEs in adopting ESG standards, digitalization, and investing in strategic technology. Ahmad Shazli emphasized that the additional RM1.5 billion is just the beginning, and the bank plans to provide more tranches in the future. The bank aims to educate and enable SMEs to compete in the evolving business landscape, which heavily involves digitalization. CIMB group commercial and transaction banking co-chief executive Lawrence Loh also highlighted the bank s investment in a new platform to improve customer journey, which will be launched soon. CGC chief executive Datuk Mohd Zamree Mohd Ishak expressed his belief that allocations for SMEs would continue in the upcoming Budget 2025, but with a more targeted approach. He mentioned that the government has been supportive of SMEs in the past and this trend is expected to continue. In summary, CIMB Bank is committed to supporting the SME sector by providing additional financing, educating SMEs on digitalization, and investing in new platforms to improve customer experience. The bank and CGC aim to strengthen their relationship and provide more targeted support to SMEs in the future.
Source: thestar.com.my
Published on 2024-10-01
Clifford Chance Badea advised banks in connection with BT ESG bonds issue that attracted EUR 700 million
Clifford Chance Badea and Clifford Chance LLP provided legal counsel to Banca Transilvania in the sale of EUR 700 million ESG bonds on international markets. The transaction, part of Banca Transilvania s multi-annual Eurobond programme, was oversubscribed within a few hours. The legal team included Mădălina Rachieru-Postolache, Radu Ropotă, Martha Busuiocescu, Kate Vyvyan, and Russell Harris. This second ESG issue for Banca Transilvania follows the first MTN Programme of EUR 1 billion and the inaugural offer of EUR 500 million. The lawyers from Bucharest and London have a long-standing relationship with Banca Transilvania and have advised on numerous successful projects in Romania s financing market. The transaction aligns with Clifford Chance s commitment to sustainability efforts. The Bucharest Capital Markets practice, fully integrated in the global network, boasts a portfolio of first-of-their-kind projects and is recognized as a top law firm specialized in this area. Recent notable transactions include Romania s inaugural green bonds offer, Premier Energy IPO, NEPI Rockcastle s Eurobond Program, Hidroelectrica s IPO, OMV Petrom s delisting of GDRs, CEC Bank s Eurobonds Program, Unicredit Bank s Eurobonds Program, OMV Petrom s share capital increase, Fondul Proprietatea s buy-back public tender offers, and Romania s Sovereign Eurobonds Program.
Source: business-review.eu
Published on 2024-10-01
Construction Leader : Zander Muego on adapting to Thomas & Adamson historic move to Egis Group
Thomas & Adamson (T&A), a property and construction consultancy, joined global firm Egis Group in May to address scalability challenges and expand its services in Scotland. The acquisition aligns with T&A s strategic goals, particularly in the UK, and enhances its capabilities in sustainability, decarbonisation, and advisory services. Zander Muego, director of T&A in the UK, highlights the opportunity for geographic expansion, technological advancement, and career growth for staff. T&A has a history dating back to 1935, with over 100 employees across Edinburgh, Glasgow, London, and the Middle East. The firm specializes in private sector projects, including hotels, residential developments, and workplace projects. T&A has also ventured into the healthcare sector and decarbonisation, with a portfolio that includes the UK s first Virgin Hotel and various BT projects. Muego s experience in the Middle East, where he worked for nine years, provided valuable insights into different project delivery methods and client relationships. Egis s ESG team and focus on AI and new technology will further strengthen T&A s capabilities. The partnership with Egis also addresses the need for regeneration in city and town centers, which have faced challenges from online shopping, Covid-19, and the cost-of-living crisis. T&A is actively engaging with authorities and apprentices to grow the firm and stay true to its roots. Overall, the acquisition by Egis Group presents a historic opportunity for T&A to expand its services, enhance its technological capabilities, and maintain its core values and client relationships. The partnership aligns with the firm s ambitions in sustainability and decarbonisation, while also addressing the challenges of regenerating city and town centers.
Source: scottishconstructionnow.com
Published on 2024-10-01
FS Bancorp , Inc . Appoints Terri L . Degner to Board of Directors
FS Bancorp, Inc., a Washington-based holding company for 1st Security Bank of Washington, announced the appointment of Terri L. Degner to its Board of Directors on October 1, 2024. Degner, who previously served as Executive Vice President, Chief Financial Officer, and Treasurer at Anchor Bank, will bring her extensive banking background and in-depth knowledge of the Bank and Company to the Board. Her appointment became effective on September 30, 2024. Joe Adams, the company s CEO, expressed his pleasure in welcoming Degner to the Board, emphasizing the value she will add to the organization. Degner s experience includes working with the Bank during the Anchor transition and other projects. She holds a Bachelor of Arts Degree in Accounting from St. Martins College and graduated with honors from Pacific Coast Banking School at the University of Washington. FS Bancorp, Inc. operates as the holding company for 1st Security Bank of Washington, which provides loan and deposit services to small- and middle-market businesses and individuals in Washington and Oregon. The Bank operates through 27 bank branches, a headquarters office, and loan production offices in various communities in the greater Puget Sound area, the Tri-Cities, and Vancouver, Washington. The press release also includes a disclaimer about forward-looking statements, noting that the company s expectations and forecasts regarding future events are subject to various factors that could cause actual results to differ materially. These factors include increased competitive pressures, changes in interest rates, general economic conditions, legislative and regulatory changes, and other factors described in the company s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Contact information for FS Bancorp, Inc. is provided for further inquiries. The press release was distributed by GlobeNewswire, Inc. on October 1, 2024.
Source: marketscreener.com
Published on 2024-10-01
Green Seal Unveils New Brand Identity
Green Seal, a non-profit environmental certification organization, has introduced a new brand identity to combat greenwashing and assist consumers in identifying products that are safer for both people and the planet. Since its inception 35 years ago, Green Seal has been instrumental in transforming the sustainability of away-from-home products through its comprehensive certification standard, which is now being applied to the household products market. The new identity reflects Green Seal s commitment to promoting safer and more sustainable products by focusing on core elements such as safer chemicals, responsible sourcing, low-impact manufacturing, sustainable packaging, and verified performance and claims. The organization aims to reduce marketplace confusion and enable consumers to align their purchasing decisions with their values. According to a 2024 survey by ERM Shelton, 75% of people globally consider buying eco-friendly products an important part of their personal image, and 76% are concerned about the use of harmful chemicals. Additionally, 64% of U.S. consumers find third-party green certifications moderately to extremely important when purchasing a product. Green Seal collaborated with brand consultancy Interbrand and gathered input from consumer-packaged goods brands, retailers, and consumers during the development of the new identity. The certification mark now includes a descriptor to educate consumers on what Green Seal certification means, which research shows improves shopper understanding of the purpose of ecolabels. Green Seal will showcase the new brand identity at Sustainable Brands 24 in San Diego, where it will host a panel discussion on Solving the Biggest Problem with Sustainable Products. The organization s impacts and certified products and services can be found on their website, greenseal.org. Green Seal-certified household products are also available on Amazon, and numerous federal, state, and institutional purchasing policies specify Green Seal and certified products as eligible for Amazon s Climate Pledge Friendly badge. For more information about Green Seal, its impacts, and certified products and services,
Source: prnewswire.com
Published on 2024-10-01
Industry must work to improve communication on sustainable pensions
John Dithfield, CEO of Harmonics, emphasized the need for significant efforts to enhance communication with savers about sustainable pensions during a Good Money Week event. Dithfield highlighted the complexity of understanding investment products, particularly in the UK where workplace schemes dominate. He pointed out that simpler products often struggle to convey complex sustainability issues. Dithfield believes that resolving this issue requires government intervention, as the industry alone cannot address it. He mentioned that the Labour government is discussing actions around workplace pensions, but he suggested that introducing an advanced duty of care for employers to provide workplace education would be more effective. Charlene Cranny, founder of Economy of Good, also spoke at the event, addressing the current backlash against ESG investments. She stressed the importance of having more voices championing sustainable investment and finance. Cranny suggested reassuring pension trustees by showcasing the success of similar schemes and emphasizing that there is no one-size-fits-all approach to ESG investments. In summary, both Dithfield and Cranny emphasized the need for improved communication and education around sustainable pensions and ESG investments. They called for government action and more advocates to address the complexities and challenges faced by savers in understanding these issues.
Source: ftadviser.com
Published on 2024-10-01
Industry series 3 review : the bonking bankers saga is more ambitious than ever
The third series of BBC1 s show, featuring the fast-paced and swaggering world of banking buccaneers, draws heavily on real-life stories, as highlighted by writers Mickey Down and Konrad Kay. The eight episodes, available on iPlayer, delve into various topics such as Liz Truss s 2022 mini-budget, ethical investment, greenwashing, and high-stakes sexual escapades reminiscent of the Epsteins. Notably, the series begins with the mysterious disappearance of a questionable business tycoon during a yachting trip. One of the standout stories in the series revolves around Charles Hanani (played by Adam Levy), a creepy publisher whose actions and motives are deeply rooted in real-life events. The show s writers skillfully weave these real-life elements into the narrative, creating a compelling and engaging experience for viewers. The series ability to incorporate real-life stories into its action-packed plotlines not only adds depth and authenticity but also serves as a reminder of the complex and often controversial world of finance. The show s portrayal of banking buccaneers, with their dangerous swagger and high-speed maneuvers, mirrors the real-life experiences of those involved in the industry. In summary, the third series of BBC1 s show stands out for its incorporation of real-life stories, particularly in the portrayal of Charles Hanani, a creepy publisher whose actions are grounded in actual events. The series successfully combines fast-paced action with thought-provoking themes, offering viewers a glimpse into the intricate and sometimes controversial world of finance.
Source: thetimes.com
Published on 2024-10-01
Is Clinton Global Initiative Becoming Too Big for Its Own Good ?
Prince Harry delivered a session at CGI 2024, titled Everything Everywhere All At Once, addressing the risks of excessive screen time and digital device use among children. The event, part of the United Nations General Assembly (UNGA), brought together celebrities, policymakers, and global leaders to tackle pressing issues. However, the broad range of topics and overlapping events during the UNGA week led to a sense of overcrowding and scattering of focus. The rise of stakeholder capitalism, which emphasizes considering the needs of all stakeholders, including the environment, has influenced the thematic expansion of CGI and other UNGA events. This shift has led to a broader definition of corporate success, with business leaders recognizing their role in addressing global challenges. CGI 2024 featured a diverse array of speakers, including Mia Motley, former U.S. Energy Secretary Ernest Moniz, actor Matt Damon, and Pennsylvania Governor Josh Shapiro, who discussed various initiatives and progress in their respective fields. Despite the impressive lineup, some attendees felt the event lacked focus and wondered if they should attend more targeted conferences in the future. The event highlighted the importance of stakeholder capitalism and the role of business leaders in addressing global challenges. However, the organizers of CGI 2024 face the challenge of maintaining a balance between inclusivity and focus in future events.
Source: observer.com
Published on 2024-10-01
MITI commits to sustainable markets and net - zero pathway
The Ministry of Investment, Trade and Industry (MITI) in Malaysia has launched its Sustainability Report 2023, emphasizing the ministry s commitment to sustainable practices in the trade and industry sector. MITI s Minister, Tengku Datuk Seri Zafrul Abdul Aziz, highlighted the report s focus on environmental, social, and governance (ESG) issues, asserting that the ministry must lead by example. The report, produced in-house and verified by third-party auditors, aims to encourage more industry players to undertake their own sustainability reporting. The report follows the launch of MITI s National ESG Framework last year and is the first of its kind at the ministry level in the country. It showcases the ministry s industrial policy implementation, including the National Automotive Policy 2020, the National Semiconductor Strategy (NSS), and the New Industrial Master Plan 2030 (NIMP 2030). Tengku Zafrul also emphasized the people-centric nature of the ministry s initiatives, focusing on investment, international trade, industrial development, job opportunities, and community engagement. The MITI Open Day, which highlighted these key aspects, offered over 2,600 job opportunities from more than 22 companies for graduates in attendance. The ministry is also prioritizing the TVET training sector, with various training providers present at the event. This initiative aims to enhance business competitiveness, benefit the environment and future generations, and support Malaysia s net-zero target.
Source: thestar.com.my
Published on 2024-10-01
NY AG Letitia Jame JBS Lawsuit Exposes Risks To Other Companie Net - Zero Promises
New York Attorney General Letitia James filed a lawsuit against JBS Foods, accusing the beef giant of deceptive practices regarding its net-zero emissions commitment. The suit raises concerns about the feasibility and potential litigation risks for companies making similar sustainability commitments. Consumers’ Research, a consumer advocacy group, alerted other companies with similar pledges about the potential legal consequences, prompting attorney generals in four states to express concerns over comparable statements. The lawsuit argues that JBS s commitment to achieve net-zero emissions by 2040 is unrealistic, as there are no proven agricultural practices to reduce emissions to net zero at the company s current scale. Moreover, offsetting emissions would be extremely costly. This situation has led to debates about the viability of sustainability and ESG commitments for large industries. Consumers’ Research has been warning about the potential harm to agricultural operations and increased costs due to ESG commitments, which could ultimately be passed down to consumers. The group s concerns have caught the attention of attorney generals in Iowa, Kansas, Nebraska, and Tennessee, who have warned companies about the growing concern over misleading statements and consumer protection laws. The issue has also led to a retreat from sustainability commitments by some companies. A study found that only 4% of companies with net-zero targets have a clear plan to achieve their goals. Additionally, a survey by Bain & Co. revealed that CEOs are prioritizing other concerns over sustainability. In summary, the lawsuit against JBS Foods and the subsequent reactions from other states attorney generals have raised questions about the practicality and potential legal risks of companies making sustainability and ESG commitments. The situation highlights the need for clear, achievable plans and transparency in companies sustainability efforts.
Source: climatechangedispatch.com
Published on 2024-10-01
Resolution Life Australia targets growth via acquisitions , partnerships | Asset Owners
Resolution Life, a global life insurance group, entered the Australian market in 2019 through its acquisition of AMP Life for approximately A$3 billion ($2.08 billion). The deal marked a shift in ownership and a new approach to life insurance investment management. John Lucey, CIO of Resolution Life Australasia, emphasized the firm s mission to deliver superior risk-adjusted returns in a capital-efficient, sustainable manner for policyholders. Resolution Life s investment strategy focuses on building a diversified, multi-asset portfolio, with a strong network of strategic external manager relationships. The firm maintains high single-digit manager relationships, all of which are meaningful and understand insurance and capital regimes. The company is also conscious of its environmental, social, and governance (ESG) impact, expecting external managers to be engaged with the companies they own in the portfolio. Reports are run over the top in relation to ESG metrics, ensuring proof and measurable outcomes. To grow its Australasian arm, Resolution Life has used leveraged acquisitions, such as the AIA Super and Investments portfolio, which brought around A$5 billion worth of extra assets under the firm’s management and investment function. This allowed the firm to leverage strategic partnerships to introduce new strategies and expand the investable universe of portfolios. Resolution Life s investment strategy is global, with offices in Singapore to focus on opportunities and growth in Asia. The impact of acquisitions on their investment strategy is significant, as assets from acquisitions are folded into the strategy if appropriate, enhancing outcomes on the portfolio. Within Resolution Life Australasia s portfolio, major asset classes include fixed income, cash, private and public credit, equities (both domestic and international), and real assets (listed and unlisted property and infrastructure). The firm maintains a relatively liquid portfolio, with illiquid assets representing a minority. The insurer s less liquid assets allow it to harvest complexity and illiquidity premium, but they are carefully modeled to ensure liquidity. In 2022, Resolution Life entered into a strategic
Source: asianinvestor.net
Published on 2024-10-01
Reviewing Energy and Environmental News for October 2024
The Securities & Exchange Commission (SEC) has disbanded its Climate & ESG Task Force, which was established in March 2021 during the Biden administration. Despite the task force s relatively few enforcement actions over the past three-and-a-half years, it pursued high-profile cases against various entities, including asset managers and mining companies. The SEC also focused on ESG-related activities, such as greenwashing, without involving this task force. In California, Governor Newsom s proposal to delay the implementation of recently enacted climate disclosure laws was rejected by the California Legislature. Instead, S.B. 219 was passed, granting the state agency an additional six months to adopt the regulations but not extending the compliance deadline for companies. Governor Newsom has not yet signed this legislation, and the laws are currently being challenged in court. Recent greenwashing litigation has primarily targeted the consumer products sector. A private plaintiff filed a consumer protection lawsuit against Tyson Foods, alleging misrepresentations about climate-smart beef. Additionally, the SEC filed an enforcement action against a coffee machine manufacturer for false statements about the recyclability of coffee pods. These cases highlight the ongoing focus on consumer products in greenwashing litigation and suggest that more lawsuits or enforcement actions may be forthcoming against similar companies. In summary, the SEC s disbandment of the Climate & ESG Task Force may not significantly impact ESG enforcement, while California s legislative response to the climate disclosure laws and recent greenwashing litigation demonstrate the continued attention to environmental issues in the consumer products sector.
Source: natlawreview.com
Published on 2024-10-01
Rogue States : Unconstitutional Laws That Will Hold America Back
The global climate crisis is intensifying, with 2024 poised to be the warmest year on record. Extreme weather events, such as hurricanes and unprecedented rainfall, are becoming more frequent. The urgency to reduce greenhouse gas emissions is paramount to prevent reaching a critical 1.5-degree warming threshold. Despite the global renewable energy boom, with significant growth in solar and wind power, Texas lawmakers are attempting to hinder progress. In 2021, Texas passed S.B. 13, a law requiring state entities to divest from businesses that support fossil fuels. This ideological crusade has resulted in substantial economic losses, job cuts, and reduced tax revenues. Additionally, major underwriters for municipal bonds in Texas have exited the market, leading to higher borrowing costs for Texas cities. The American Sustainable Business Council (ASBC) has filed a lawsuit against S.B. 13, arguing that it is unconstitutional and stifles free speech. A similar law, S.B. 19, has also been challenged for forcing state funds to divest from companies that restrict business with gunmakers. Texas is not alone in these attempts to penalize companies for progressive investment strategies. In 2022, at least 44 new bills or laws in 17 red states aimed to penalize companies for investment behaviors deemed too progressive. The anti-ESG push has even been taken up by the authors of Project 2025, a Heritage Foundation blueprint to supercharge a second Trump presidency. They call for the removal of ESG considerations from ERISA, the law setting minimum standards for pension and health plans. These misguided ideological crusades not only jeopardize America s future prosperity and global competitiveness but also endanger communities, the economy, and the planet. The government s role in regulating companies is crucial, but trying to force U.S. companies to uphold far-right conservative ideology is unconstitutional and counterproductive in addressing the global climate crisis.
Source: forbes.com
Published on 2024-10-01
SET closed at 1 , 464 . 66 up by 15 . 83 points with a trading volume of 8 , 178 , 003 shares
As of October 1, 2024, the market status is closed with the SET index at 1,464.66, up by 15.83 points. The trading volume was 8,178,003 shares valued at 52,609.62 million Baht. Notable stocks included KTB at 20.80 Baht (+0.97%) and ADVANC at 266.00 Baht (+2.31%). The total trading value accumulated was 52,588.69 million Baht. Market Overview: - SET Index: 1,464.66 (+15.83) - SET50: 924.78 (+10.71) - SET100: 2,022.27 (+23.06) - Total Trading Volume: 8,178,003 shares (Value: 52,609.62 M.Baht) - High: 1,468.14 | Low: 1,449.64 Trading Summary (Accumulated): - Total Trading Value: 52,588.69 M.Baht Top 5 Stocks: 1. KTB: 20.80 (+0.20) | Value: 3,994,078.64 2. CPALL: 65.50 (0.00) | Value: 2,260,554.20 3. ADVANC: 266.00 (+6.00) | Value: 2,130,940.70 4. AOT: 64.75 (+0.75) | Value: 1,826,401.43 5. KBANK: 152.00 (+2.00) | Value: 1,790,630.65 Global Market Roundup: - Modest
Source: thailand-business-news.com
Published on 2024-10-01
Sustainable investing is on the ballot
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Source: santafenewmexican.com
Published on 2024-10-01
The impact of climate risk on financial reporting
The accelerating global warming has prompted a critical need for climate-related risks to be integrated into financial reporting, as traditional methods fall short in addressing the impact of climate change. Regulators and investors are pushing for greater transparency, urging companies to adapt their disclosures to reflect the challenges posed by the climate crisis. Quantifying climate-related financial risks is complex, as it requires forward-looking assessments based on future scenarios rather than historical data. This introduces uncertainty, particularly when dealing with long-term projections. The field of climate reporting is still developing, with businesses struggling to find standard methodologies for quantifying these risks. Companies face challenges in accessing relevant, consistent, and accurate climate-related data, which is essential for assessing risks to their operations. Tools exist to evaluate inherent climate risks, but translating these outputs into financial impacts remains a complex process. Regulators play a crucial role in setting clear reporting requirements and providing guidance to help businesses meet disclosure standards. In Singapore, for example, the introduction of climate reporting has seen significant uptake, with 96% of listed companies engaged in climate-related reporting for the financial year ended December 2023. Investor expectations are also evolving, with a growing demand for transparency in how companies incorporate climate risks into their business strategies and assess their potential impact on financial performance. This has led to challenges in standardizing climate risk assessments, driving the push for international standards to ensure better comparability across companies. The influence of climate risk on asset and company valuations is increasing, particularly as extreme weather events and regulatory changes begin to impact industries. Physical risks, such as floods and rising sea levels, can lead to business disruptions and impairments of damaged assets, while transition risks, such as carbon taxes, can erode profit margins for companies with high emissions. To address these challenges, companies are developing best practices and leveraging technology to effectively communicate climate risks to stakeholders. The Task Force on Climate-Related Financial Disclosures (TCFD) provides a clear framework for reporting on governance, strategy, risk management, and metrics and targets. Companies are
Source: businesstimes.com.sg
Published on 2024-10-01
ValuAble hits first close of maiden investment vehicle at 25 % of target
ValuAble Partners, a venture debt firm established by Rahul Gupta, former head of financial sponsors coverage at Axis Bank, has successfully closed its first fund, raising approximately $25 million. The firm, which was set up last year, is raising Rs 850 crore (around $101 million) for its maiden fund. Gupta confirmed the development but did not disclose further details about the fund s close. ValuAble remains focused on its deployment strategy, targeting areas of climate, inclusion, and Bharat. The firm aims to mainstream inclusion while delivering ALPHA to investors through its unique bank partnership. It has established partnerships with IDFC Bank, StockHolding, KFinTech, Rasta, Catalyst, and EY. The fund plans to invest in companies in the pre-Series A and Series A funding stages, with investments ranging from $2.5 to $4 million per company. ValuAble invests in focus areas such as healthcare, fintech, agritech, edtech, and greentech. The fund aims to invest in 40-50 businesses, prioritizing those that adhere to ESG principles and avoid sin sectors like alcohol, gambling, and tobacco. ValuAble also prioritizes investments that align with UN Sustainability Development Goals (SDG) and help break barriers for diversity groups or those led by diversity groups. To strengthen its team, Ajay Mittal was appointed as general partner and investment manager earlier this year. Mittal, a former partner at Ascent Capital, brings nearly three decades of experience in identifying startups to back as part of ValuAble s team. The development of ValuAble s first close was first reported by online news platform DealStreetAsia. Leave Your Comments Subscribe to Newsletter
Source: vccircle.com
Published on 2024-10-01
What it means when we say Climate finance , China style
Cognito is preparing for Sibos, the world s premier banking conference, to be held in Beijing for the first time. The event will explore China s advancements in technology and sustainable investment, with a focus on green finance. On October 21, EY will host a panel discussing the future of ESG and the profitability of green investments. China s significant strides in green investments, such as the world s largest fleet of electric vehicles and the Made in China 2025 industrial plan, will be highlighted. The Beijing autumn air, once hazy and foggy, now reflects China s efforts to combat air pollution. China s Belt & Road Initiative, a massive infrastructure program, remains central to its approach to international climate infrastructure investment. The government is committed to promoting green energy, transportation, and infrastructure, and assisting developing countries through the South-South Climate Cooperation Fund and the Belt and Road Initiative. Despite China s significant contributions to climate finance, it has often preferred bilateral agreements over international groupings. The country has provided alternative climate funding through its South-South Climate Cooperation Fund and the Belt and Road Initiative, rather than contributing to the loss and damage fund at COP28. China s CNI ESG Ratings Methodology, launched in 2022, includes criteria such as common prosperity and carbon neutrality. Green bonds are another key issue, with Chinese issuers raising $131 billion in 2023. Despite a slight decline in sales, the quality and credibility of these bonds have improved, with 63.6% of deals listed in the Climate Bonds Green Bond Database (GBDB). China s policy-making aims to ensure private capital s participation by setting up stronger regulatory frameworks and updating the Green Bond Endorsed Project Catalogue. Sibos will take place before a critical year for climate finance, with countries revising targets for 2030 and 2040. China may be included in these targets for the first time, as it is
Source: cognitomedia.com
Published on 2024-10-01
Wolters Kluwer announces senior executive appointment
Wolters Kluwer, a global leader in professional information, software solutions, and services, has announced the appointment of Richard Pulliam as Senior Vice President and General Manager of its Corporate Performance & ESG (CP & ESG) division s EHS & ESG unit (formerly EHS/ORM). Pulliam, who joined the division in early 2024 as Vice President of Product Management for ESG solutions, brings over 20 years of experience in driving the success of high-growth B2B software platforms. Prior to this role, he served as the Chief Product & Strategy Officer of Arvest Bank Group. Pulliam s expertise lies in leveraging Application Programming Interface (API) platforms and ecosystems to build and scale transformational businesses and products across various industries, including financial services, telecommunications, travel, human resources, and media. Karen Abramson, CEO of Wolters Kluwer CP & ESG, believes that Pulliam s entrepreneurial mindset, commitment to customer-driven innovation, and proven track record make him the perfect fit to lead the evolution of the company s EHS & ESG business, centered around the global Enablon platform. Pulliam emphasizes the importance of user-friendly, integrated technology in managing EHS and ESG data, which is in high demand across various industries and geographies. He aims to empower future-focused CFOs, CSOs, CIOs, and EHS professionals to leverage their data to improve safety, meet targets, drive cost savings, and build more resilient operations for competitive advantage. Wolters Kluwer CP & ESG is a leading provider of integrated software solutions for EHS, Environmental, Social, and Governance (ESG), and Governance, Risk, and Compliance (GRC). The company helps business leaders make informed, strategic decisions that drive transformation, performance, and risk management for a sustainable and resilient world. For more information about Wolters Kluwer, visit www.wolterskluwer.com. The company reported 2023 annual revenues of €5.6 billion and serves customers in over
Source: marketscreener.com
Published on 2024-10-01