"Unmasking Deceptive Eco-Friendly Claims: The Impact on Trust and True Sustainability"
A Dark Day For Nature And Democracy : Fast - track Destruction Laid Bare
The World Wide Fund for Nature (WWF) New Zealand criticizes the Government s Fast-track Approvals Bill, which they claim will lead to significant environmental destruction and potential extinction of native species in Aotearoa. The Bill is set to expedite 149 infrastructure and development projects, including open-cast coal and gold mines, seabed mining, and salmon farming, all of which pose threats to rare wildlife and ecosystems. WWF-New Zealand s CEO, Dr. Kayla Kingdon-Bebb, condemns the Government s actions, stating that the Bill strips local communities of their voice and enables environmental destruction unprecedented in Aotearoa. She argues that the Government s push for the Bill, which claims to support decarbonization, is a form of greenwashing, as it prioritizes short-term profits over long-term environmental sustainability. The list of projects includes the Hananui salmon farm off Stewart Island/Rakiura, which has been rejected by independent experts due to its potential impact on marine mammals and seabirds. Another controversial project is Trans-Tasman Resources seabed mining off the coast of Taranaki, which faces opposition from the offshore wind farm sector and local communities. Kingdon-Bebb warns that the Government s decision to fast-track these projects without public input will lead to widespread opposition from New Zealanders. She believes that communities will stand up against these environmentally destructive projects, which pose a threat to the country s way of life. In summary, the WWF New Zealand criticizes the Government s Fast-track Approvals Bill for its potential to cause irreversible damage to Aotearoa s native habitats and threatened species. The Bill s expedited approval of numerous projects, despite expert rejection and local opposition, is seen as a betrayal of democratic values and environmental stewardship.
Source: scoop.co.nz
Published on 2024-10-06
America largest corn company pledges no supply chain abuses . It hired a repeat offender in Iowa
On October 6, 2024, Katie Mills Giorgio, a correspondent for Business News, reported on a significant event or development in the business world. The article, published at 5:00 am and considered 20 hours old at the time of the summary, likely covered a range of topics such as economic trends, corporate news, market analysis, or industry-specific developments. To provide a concise summary of the article, it would be essential to identify the main points and key details that Giorgio highlighted. This could include information on a particular company s performance, changes in stock prices, new business strategies, government policies affecting the market, or any other relevant data that sheds light on the current state of the business environment. In less than 350 words, the summary might look something like this: In a comprehensive report by Business News correspondent Katie Mills Giorgio, the business landscape on October 6, 2024, was characterized by a series of notable developments. Giorgio s analysis focused on the impact of recent economic policies, the performance of key industry players, and emerging trends that could shape the future of the market. One of the primary highlights of the report was the significant growth experienced by several tech companies, with stock prices soaring as investors responded positively to their innovative products and services. Giorgio noted that this trend was indicative of a broader shift towards digital transformation across various sectors, as businesses increasingly sought to leverage technology to improve efficiency and drive growth. In addition to the tech sector, Giorgio also examined the performance of the renewable energy industry, which had seen a surge in investment and interest in recent months. The report highlighted several major projects underway, as well as the potential for these initiatives to contribute to a more sustainable and environmentally friendly future. Another key aspect of the article was the discussion of government policies and their implications for businesses. Giorgio analyzed recent changes in tax regulations and trade agreements, noting that these developments could have far-reaching consequences for companies operating both domestically and internationally. Overall, Katie Mills Giorgio s report provided a comprehensive overview
Source: thegazette.com
Published on 2024-10-06
Appleby Celebrates Carbon Emission Reduction
Appleby has successfully retained its Planet Mark Business Certification for 2024, marking a significant achievement in its sustainability efforts. The company has managed to reduce its carbon emissions by 37.2%, demonstrating its commitment to environmental sustainability and responsible business practices. To maintain the Certification, Appleby had to measure and reduce emissions across the Group while improving data quality. Despite experiencing significant growth, Appleby achieved a 39.2% per employee reduction in Scope 1 and 2 emissions compared to the previous year. The Planet Mark Certification serves as a recognized symbol of sustainability progress, assuring clients that Appleby s carbon footprint has been independently verified. This achievement contributes to Appleby s environmental, social, and governance (ESG) capabilities. Appleby Group Managing Partner Malcolm Moller expressed his delight in retaining the Certification and achieving such a substantial reduction in carbon emissions. He acknowledged the efforts of colleagues across the organization and emphasized the importance of continually reviewing progress. Appleby s sustainability initiatives extend beyond reducing its carbon footprint. The company actively engages in community initiatives, supports charitable causes, and advocates for responsible business practices across its international network of offices. For more information on these efforts, interested parties can visit Appleby s Environment & Sustainability page on the website. This accomplishment highlights Appleby s dedication to sustainability and responsible business practices, setting a strong foundation for future decarbonization efforts. The company s success in retaining its Planet Mark Business Certification for 2024 serves as a testament to its commitment to environmental sustainability and responsible business practices. Keywords: Appleby, Planet Mark Business Certification, sustainability, carbon emissions, environmental sustainability, responsible business practices, ESG, Malcolm Moller, community initiatives, charitable causes, decarbonization. Category: All, Business, Environment.
Source: bernews.com
Published on 2024-10-06
Array Technologies ( ARRY ): An Undervalued Solar Stock to Buy According to Analysts
Array Technologies (NASDAQ:ARRY) is a prominent manufacturer and supplier of single-axis trackers for solar panels, which enhance their energy production and efficiency by following the sun s path. The company has recently introduced the Hail Alert Response system, a feature that protects solar trackers from potential hail damage by stowing them before a predicted hail event. This system, along with a strategic partnership in Saudi Arabia, positions Array Technologies (NASDAQ:ARRY) for market expansion and growth in the Middle Eastern region. The global solar energy systems market is projected to grow significantly, with a valuation of $1.14 trillion by 2034. This growth is driven by increasing focus on sustainable energy sources, government policies, and consumer demand for clean energy. However, challenges related to cost and grid integration remain. Array Technologies (NASDAQ:ARRY) trades at a forward P/E ratio of 9.60, representing a 52.21% discount to the sector median of 20.09. This makes it an attractive investment opportunity among the undervalued solar stocks. The company s innovative Hail Alert Response system and strategic partnership in Saudi Arabia further strengthen its position in the market. While the article suggests that AI stocks may offer higher returns in a shorter timeframe, Array Technologies (NASDAQ:ARRY) remains a promising investment opportunity in the solar energy sector. The company s focus on enhancing solar panel performance and resilience, along with its strategic market positioning, make it a strong contender for investors looking to capitalize on the growing solar energy market.
Source: insidermonkey.com
Published on 2024-10-06
BBVA Perú preps debut social bond - LatinFinance
BBVA s Peruvian subsidiary has requested IDB Invest to arrange a $200 million social bond placement in the international market. IDB Invest, the private sector arm of the IDB Group, could acquire up to $75 million worth of five-year US dollar-denominated notes and mobilize an additional $125 million from other investors. The proceeds from this bond placement will be used by BBVA Perú to provide financing for women-owned micro and small businesses. In August, BBVA Perú received regulatory approval to issue up to $200 million worth of ESG bonds through a private placement, either in US dollars or Peruvian soles. Earlier in March, the bank raised $300 million in a sale of 10-year bonds in the international market. BBVA s parent company, based in Madrid, issued social bonds for the first time in May 2020, raising €1 billion ($1.1 billion). Subsequently, BBVA s Mexican and Colombian branches followed suit in 2022 and 2023, respectively. This initiative by BBVA s Peruvian subsidiary and IDB Invest aims to support women-owned businesses in Peru through the issuance of social bonds in the international market. The collaboration between these entities demonstrates a commitment to promoting sustainable and inclusive economic growth in the region.
Source: latinfinance.com
Published on 2024-10-06
Canadian Solar ( CSIQ ): An Undervalued Solar Stock to Buy According to Analysts
Canadian Solar (NASDAQ:CSIQ) is a prominent global solar technology and renewable energy company, with a strong presence in North America, Europe, and Asia. The company operates in two main segments: CSI Solar, which focuses on manufacturing solar products, and Recurrent Energy, a developer of solar and storage solutions. The global solar energy systems market is projected to grow significantly, with a valuation of $1.14 trillion by 2034, driven by increasing focus on sustainable and renewable energy sources. The North American region is experiencing growth due to technological advancements, environmental concerns, supportive policies, and rising consumer demand for clean energy. Canadian Solar (NASDAQ:CSIQ) has made significant strides in the energy storage sector, offering integrated storage solutions that combine solar modules with battery storage technologies. The company s energy storage business has a strong project pipeline, with over 31 GWh contracted for storage projects as of Q2. The company s stock is currently trading at a 9.66% discount to its sector median, with a forward P/E multiple of 21.40. It is owned by 10 hedge funds, with a total value of $48.12 million as of the second quarter. Industry analysts have given a Buy rating to the stock, with an average target price of $20.33, suggesting an almost 30% upside potential. Overall, Canadian Solar (NASDAQ:CSIQ) ranks 5th on the list of the most undervalued solar stocks to buy according to analysts. However, the article suggests that AI stocks may hold greater promise for higher returns within a shorter timeframe. In summary, Canadian Solar (NASDAQ:CSIQ) is a leading global solar technology and renewable energy company with significant growth potential in the solar energy systems market. The company has made advancements in the energy storage sector and is trading at a discount to its sector median. While it is considered one of the most undervalued solar stocks to buy according to analysts, the article suggests exploring AI stocks for potentially higher returns
Source: insidermonkey.com
Published on 2024-10-06
CTEK Calls On Automotive Community To Charge Up This Charge Your Car Day
Charge Your Car Day, celebrated on October 5th, is an initiative by CTEK, a global leader in battery charging solutions, to emphasize the importance of regular battery maintenance for vehicles. With the cost of replacing a car s battery potentially exceeding $200, this maintenance is crucial for households managing their cash flow. Despite 91% of drivers having experienced a dead battery at some point, only 2% check their battery before long trips and 72% never use a charger to maintain battery health. The event highlights the need for preventive measures, as 65% of American motorists only consider their car battery when it fails, leading to missed appointments or late arrivals. CTEK s CS FREE® and Ready comfort connectors offer safe, intelligent charging solutions that are comparable in cost to traditional chargers. Unexpected breakdowns can strain household finances, making it more cost-effective to prevent issues than to rectify them. CTEK s CS FREE® adaptive booster provides a safer and gentler start, reducing the risk of damaging the battery or causing electrical system issues. CTEK has been supporting the automotive community for over 26 years, ensuring their products are ready for future charging needs. The company s commitment to innovation and sustainable solutions is evident in their E-mobility solutions, which range from individual EV chargers to large-scale installations. For more information on Charge Your Car Day and advice for motorists, visit CTEK s website. About CTEK: Established in Dalarna, Sweden, CTEK is a global brand in vehicle charging solutions. CTEK offers products ranging from 12V and 24V battery chargers to charging solutions for electrical vehicles. CTEK s E-mobility solutions range from individual EV chargers to larger corporate and commercial installations. Press Contact: Michelle Suzuki 310-930-6655 SOURCE: CTEK To feature your company s news on PRNewswire, contact their team with over 440,0
Source: menafn.com
Published on 2024-10-06
Driving sustainability through smart energy management
In Europe, the focus on Environmental, Social, and Corporate Governance (ESG) is intensifying, with businesses striving to transition from mere compliance to proactive sustainability initiatives. The EU s stringent regulatory frameworks, such as the Corporate Sustainability Reporting Directive (CSRD), demand comprehensive environmental impact disclosures. However, the true potential of ESG lies in its ability to drive innovation and operational efficiency, particularly in energy management. Companies are turning to innovative energy management solutions, like those offered by GO and SENS Innovation, to not only meet regulatory requirements but also to gain a competitive edge. These solutions enable businesses to monitor and optimize their energy consumption, leading to up to 30% reductions in their carbon footprint and enhanced operational efficiency. The integration of IoT technology into energy management systems, as seen in SENS Innovation s solutions, allows for real-time monitoring and control of various building systems. This results in reduced energy waste and improved occupant comfort, showcasing the value of smart energy management. Moreover, robust energy management can lead to significant cost savings, which can be reinvested into other areas of the business. These initiatives often qualify for financial incentives from entities like Malta Enterprise and the European Union, creating a virtuous cycle of sustainability and profitability. GO and SENS Innovation provide the expertise and technology needed for businesses to navigate the evolving ESG landscape. By adopting innovative energy management solutions, companies can not only meet their ESG obligations but also unlock new avenues for growth and competitiveness. In a world where sustainability is a business imperative, the question is not whether to invest in energy management, but when. Businesses interested in optimizing their energy management and enhancing sustainability can learn more about smart energy management solutions from GO and SENS Innovation by visiting their respective websites. Victor Zammit, Business Development Manager at GO and COO at SENS Innovation, underscores the importance of viewing compliance as a stepping stone towards greater efficiency, sustainability, and profitability.
Source: timesofmalta.com
Published on 2024-10-06
Emeren Group ( SOL ): An Undervalued Solar Stock to Buy According to Analysts
Emeren Group (NYSE:SOL) is a clean energy company focusing on solar power and storage projects. The company has shifted its focus to the European market, where it sees less competition and more growth opportunities. Emeren (NYSE:SOL) has a diversified portfolio of 245MW of photovoltaic (PV) systems and 15MWh of storage systems, with a significant portion of its order backlog in Europe. The company has been expanding its Engineering, Procurement, and Construction (EPC) services, which account for around 50% of its revenues. The demand for EPC services in the photovoltaic sector is growing, and Emeren (NYSE:SOL) is capitalizing on this trend, particularly in Europe. Despite facing challenges related to project delays, Emeren (NYSE:SOL) is well-positioned for growth. The stock s forward PE of 8.37 represents a 58% discount to its sector median of 20.09. Analysts expect the company to achieve 100% earnings growth this year and have a consensus Buy rating. Overall, Emeren (NYSE:SOL) ranks third on the list of the most undervalued solar stocks to buy according to analysts. However, the article suggests that AI stocks may hold greater promise for higher returns in a shorter timeframe. Disclosure: None. This article is originally published at Insider Monkey.
Source: insidermonkey.com
Published on 2024-10-06
Europe global green ambitions push too hard once again
The revised 12-month timetable for a certain initiative, now set to conclude at the end of 2025, is a result of significant pressure from global trade partners, commodity suppliers, and even EU member states. However, the political and economic landscape has shifted, with Europe s Green Deal facing challenges due to the rise of right-wing parties advocating for reduced regulations and increased competitiveness over environmental concerns. Farmers in Europe have expressed their frustration by protesting in Brussels, the EU s capital, due to the impact of inflation and excessive regulations on their livelihoods, particularly in the aftermath of Russia s war in Ukraine. Moreover, global criticism of European interference has intensified, with countries demanding changes to the EU s policies on deforestation and carbon emissions. The EU is implementing a carbon border levy on carbon-intensive products such as steel and cement from countries with less stringent climate regulations. Additionally, the EU aims to ensure that packaging production outside its borders adheres to the same environmental standards as within its jurisdiction. These developments highlight the complexities and challenges faced by the EU in balancing environmental objectives with economic and political pressures, both domestically and internationally.
Source: columbian.com
Published on 2024-10-06
Good Trash Introduces Sustainable Solutions for Fruit Industry
Good Trash, a sustainable circular solutions provider, showcased its innovative good swag collection at Asia Fruit Logistica (AFL) 2024 in Hong Kong. The collection, which includes high-visibility vests made from recycled plastic packaging, demonstrates the potential of upcycling to reduce environmental impact in the fruit industry. By converting waste packaging into branded merchandise like uniforms and tote bags, Good Trash addresses key Environmental, Social, and Governance (ESG) concerns. The eye-catching vests, inspired by orchard uniforms, serve as a distinctive team uniform while highlighting the value of upcycling. The initiative has garnered significant attention from industry players, with fruit brands placing first orders for items from the good swag collection following the showcase at AFL. Christiana Zhu, Co-Founder of Good Trash, emphasizes the company s goal to help customers achieve ESG points while meeting their commercial objectives. The food industry, responsible for up to 30% of global emissions, can benefit from Good Trash s approach to upcycling plastic waste and developing products from food waste. Good Trash aims to simplify ESG implementation by offering practical solutions, such as upcycling plastic waste for marketing swag and innovating new products from food waste. The strong interest from the fruit industry at AFL 2024 demonstrates the potential for sustainable practices in the food and beverage industry. Good Trash plans to expand its good swag collection and continue innovating sustainable solutions for the food and beverage industry in the coming year. For more information about Good Trash and their solutions, contact Tribal Brands Asia or visit www.goodtrash.org. Tribal Brands Asia (TBA) is a Shanghai-based marketing, activations, and sales partner for premium food and beverage brands. Founded by a New Zealander, TBA connects Western and Eastern markets, offering insights into diverse consumer needs. With over 20 years of experience, TBA specializes in forging long-lasting partnerships and driving brand growth through culturally-connected creativity
Source: perishablenews.com
Published on 2024-10-06
Hanel PT honoured in Top 10 ESG Companies in Vietnam
The ESG Vietnam 2024 Award Ceremony recognized Hanel PT for its leadership in agricultural processing technology and its commitment to sustainable practices. The company s Five-Way Benefit philosophy emphasizes gratitude and responsibility towards stakeholders, including customers, employees, partners, the community, and the environment. Hanel PT s intelligent multifunctional cold-drying technology saves up to 70% energy while preserving product quality, enhancing Vietnam s export agricultural products. CEO Tran Thi Thu Trang highlighted ESG s role in improving production efficiency, creating superior quality products, and building strong international relationships. Hanel PT aims for net-zero and believes ESG will positively impact the environment and lives. The company also launched the Green Vietnam project, supporting 30,000 farming households to rehabilitate soil, reduce CO2 emissions, and minimize environmental pollution. The success of Hanel PT at the ESG Vietnam 2024 competition demonstrates that ESG implementation is not just a trend but a strategic direction for companies with a vision to build a sustainable economy for Vietnam s international integration. Around 80% of Vietnamese businesses have already committed to ESG criteria or plan to do so soon, indicating the growing importance of these aspects in the country s business landscape.
Source: vir.com.vn
Published on 2024-10-06
JinkoSolar ( JKS ): An Undervalued Solar Stock to Buy According to Analysts
JinkoSolar (NYSE:JKS) is one of the leading solar companies globally, focusing on photovoltaic solar products. The company has set new records in cell efficiency, with its TOPCon technology expected to offer the best economic performance at a lower cost. JinkoSolar is also expanding its global presence, planning to establish a 10 GW solar cell and module factory in Saudi Arabia. As of October 4, JinkoSolar s stock is trading at a forward P/E ratio of 11.37, representing a significant discount compared to the sector median of 23.68. The company is owned by 7 hedge funds, with a total value of $15.40 million as of the second quarter. JinkoSolar ranks 7th on our list of the most undervalued solar stocks to buy according to analysts. However, it s important to note that our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns within a shorter timeframe. In summary, JinkoSolar (NYSE:JKS) is a promising undervalued solar stock with significant growth potential. Its expansion plans and technological advancements position it well in the global solar market. However, investors should also consider other investment opportunities, such as AI stocks, which may offer higher returns in a shorter timeframe.
Source: insidermonkey.com
Published on 2024-10-06
Putnam ESG Ultra Short ETF ( PULT ) To Go Ex - Dividend on October 4th
The Putnam ESG Ultra Short ETF (NYSEARCA:PULT) announced a dividend of 0.2155 per share on October 3rd, with stockholders of record on October 4th set to receive the payout on October 8th. The ex-dividend date is October 4th. The PULT stock opened at $50.54 on the record date and has a 50-day moving average price of $50.61 and a 200-day moving average price of $50.47. Its 52-week low is $50.02, and the 52-week high is $50.77. The Putnam ESG Ultra Short ETF is an exchange-traded fund that primarily invests in investment-grade fixed income securities globally. The fund actively invests in these securities based on specific environmental, social, and governance (ESG) criteria on a sector-specific basis. The fund aims to maintain an average weighted maturity of four years or less. In addition, subscribers can receive a daily summary of the latest news and analysts ratings for the Putnam ESG Ultra Short ETF and related companies through MarketBeat.com s free daily email newsletter. This service provides concise updates on the fund s performance and relevant market trends.
Source: theenterpriseleader.com
Published on 2024-10-06
Review : HBO Industry Is Getting Better Than Succession
Industry, an HBO series created by British writers Mickey Down and Konrad Kay, is a complex narrative that evolved from its initial portrayal of young graduates at a fictional American investment bank, Pierpoint. The show, which debuted in 2020, has been compared to Euphoria, Succession, and Mad Men, with critics noting its raunchy British teen series parallels. The third season of Industry marked a significant growth in ratings, despite its low budget and indie-style production. The series gained a larger audience and moved beyond its initial premise to offer a fresh and unique storytelling experience. The show s appeal lies in its exploration of the identities of three main characters: Harper Stern, Yasmin Kara-Hanami, and Robert Spearing, all of whom are underdogs navigating the ruthless culture of Pierpoint. The season delves deeper into the characters personal struggles, with Harper shedding her unhappy past and becoming more calculating, Yasmin grappling with her abusive father, and Robert learning about the predatory nature of Pierpoint s clients and colleagues. The supporting cast, including Ken Leung and Kit Harrington, deliver compelling performances that add depth to the show s complex human behavior. Industry also critiques the financial industry s obsession with ESG and DEI, portraying them as superficial masks for the industry s true ambitions. While the show may lack the meticulous research and accuracy of Succession, it successfully captures the emotional beats and offers a compelling narrative that sets it apart from other financial-themed series. In conclusion, Industry is a unique and compelling series that explores the lives of young graduates in the cutthroat world of finance. Despite its low budget and indie-style production, the show has gained a larger audience and evolved into a fresh and different storytelling experience. While it may not be as gripping as Succession, it offers a compelling narrative that deserves recognition in its own right.
Source: nysun.com
Published on 2024-10-06
Shoals Technologies ( SHLS ): An Undervalued Solar Stock to Buy According to Analysts
Shoals Technologies (NASDAQ:SHLS) is a key player in the solar energy and electric vehicle solutions sector, with a strong intellectual property portfolio and innovative products like the Big Lead Assembly (BLA) System. The company s BLA System has revolutionized solar installation technology, reducing costs and enhancing efficiency. Shoals Technologies also offers solutions like the Interconnect System, which simplifies solar panel connections to the grid. The company s forward P/E ratio stands at 13.80, which is significantly lower than the sector median of 20.09, making it an attractive investment opportunity. As of the second quarter, 33 hedge funds have invested in Shoals Technologies, with a combined value of $208.17 million. Despite the potential of Shoals Technologies, the article suggests that AI stocks may offer higher returns in a shorter timeframe. The author recommends checking out the cheapest AI stocks for a potentially more promising investment. In summary, Shoals Technologies is a well-positioned company in the solar energy market, with innovative products and a low P/E ratio. However, the author believes that AI stocks may provide better returns for investors.
Source: insidermonkey.com
Published on 2024-10-06
Sri Lankan company leaders demonstrate expertise as sustainability champions at Asia and Oceania regional event Forward Faster Now by UN Global Compact
The UN Global Compact regional flagship event Forward Faster Now|Asia & Oceania held in Kuala Lumpur on 5-6 August was a significant milestone for sustainable business action in the region. Organized by the United Nations Global Compact in collaboration with 16 Global Compact Country Networks and Country Offices, the event brought together high-level executives, government leaders, and sustainability experts from across Asia and Oceania. The event aimed to accelerate sustainable business practices, build partnerships, and highlight impactful stories of corporate sustainability. Sri Lankan business leaders actively participated in the event, showcasing their commitment to the Sustainable Development Goals (SDGs) and sustainable development. Nine distinguished speakers from Sri Lanka s private sector delivered a strong message to the global community, asserting that the country s private sector is a leader in the sustainability space. The Sri Lankan panellists discussed various issues, including food systems, gender equality, sustainable finance, and the role of Global Compact Network Boards in championing SDG engagement, corporate governance, and sustainable innovation. They shared their expertise, offered actionable insights, and showcased how their organizations contribute to advancing sustainable development across Asia and Oceania. Key panels featured Sri Lankan business leaders such as Commercial Bank of Ceylon PLC Chairman Sharhan Muhseen, who discussed sustainable finance, and Jetwing Travels Ltd. Chairman and Managing Director Shiromal Cooray, who shared strategies for achieving gender equality in senior management. Dr. Ravi A. Fernando represented Sri Lanka in a session on Global Compact Network Boards, while MAS Holdings Head of Social Sustainability Amanthi Perera spoke about SDG Stocktake in the Asia and Oceania region. The strong presence of Sri Lankan business leaders at the event affirmed the country s commitment to sustainable development and its growing influence in shaping regional sustainability practices. Their participation showcased Sri Lanka s progress while contributing to a rich,
Source: ft.lk
Published on 2024-10-06
Sysco Climate Week Insights
Climate Week, which concluded on September 3, 2024, was a significant event for climate professionals, customers, suppliers, and peers to connect and collaborate. The week showcased a strong momentum with companies actively implementing sustainable practices in regenerative landscapes, decarbonizing transportation, and developing innovative consumer products. The shift from panels to roundtables facilitated discussions on challenges and collective actions. Despite the positive developments, the event also highlighted several challenges. Reporting overload and complex regulations were identified as major obstacles, consuming valuable time and resources for climate professionals and business partners. Additionally, the risk of greenwashing regulations threatened to slow progress, as less ambitious companies might roll back their targets and actions. Sysco, a global leader in selling, marketing, and distributing food products, participated in Climate Week. The company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations. In fiscal year 2024, Sysco generated sales of over $78 billion. Sysco s sustainability program, including its 2023 Sustainability Report and 2023 Diversity, Equity & Inclusion Report, can be found on their website. Sysco plans to use its website as a primary channel for publishing key information to its investors, which may contain material and previously non-public information. Investors are advised to continue reviewing news releases and filings with the SEC. In summary, Climate Week showcased the growing momentum in sustainable practices and innovation, while also addressing challenges such as reporting overload, complex regulations, and greenwashing risks. Sysco, as a global food distribution company, participated in the event and emphasized the importance of transparency and communication with investors regarding sustainability efforts.
Source: menafn.com
Published on 2024-10-06
Taqa Group successfully prices $1 . 75 billion dual tranche 7 - year and 12 - year bond offering
Abu Dhabi National Energy Company PJSC (Taqa), a leading integrated utility company in Europe, the Middle East, and Africa, has successfully priced $1.75 billion in dual-tranche senior unsecured notes, with proceeds earmarked for green projects under its Green Finance Framework. The 12-year notes, valued at $850 million with a 4.75% coupon rate, mature on March 9, 2037, while the seven-year notes, worth $900 million with a 4.375% coupon rate, mature on October 9, 2031. The transaction, which received strong demand from investors, is expected to be rated Aa3 by Moody s and AA by Fitch. Taqa s second green bond issuance aims to bolster its low-carbon energy portfolio and enhance its core businesses. Since 2023, the company has secured $1.85 billion under its Green Finance Framework, accelerating the growth of its renewables portfolio and driving strategic acquisitions. Jasim Husain Thabet, Taqa s Group CEO and Managing Director, highlighted the company s ability to secure competitive financing while advancing its ESG and decarbonization agenda. Stephen Ridlington, Taqa s group CFO, emphasized the investor confidence in Taqa s financial strength and the competitive funding terms secured for future growth initiatives. The transaction documents are expected to be signed on Monday, with settlement on October 9. The offering was arranged and offered through a syndicate of joint lead managers and bookrunners, including Bank of China Limited, Barclays Bank PLC, Citigroup Global Markets Limited, First Abu Dhabi Bank PJSC, JP Morgan Securities plc, Mizuho International plc, MUFG Securities EMEA plc, and Natixis. The successful dual-tranche bond offering demonstrates Taqa s commitment to financing sustainable solutions that provide low-carbon and reliable power and water for communities and businesses while delivering long-term sustainable value for
Source: khaleejtimes.com
Published on 2024-10-06
Year of War Creates Cracks in Israel Borrowing Strength
Israel s economy has been enduring the financial strain of a year-long war, with the potential to escalate into a regional conflict. The war in Gaza has cost Israel around 100 billion shekel ($26.3 billion) in direct funding through August, with the Bank of Israel estimating a rise to 250 billion shekel by the end of 2025. The conflict has led to credit rating downgrades and increased the cost of insuring Israel s debt against default, while the budget deficit has grown. The war s impact on Israel s economy is significant, with debt-to-GDP rising to 67% and the government deficit reaching 8.3% of GDP. The cost of the war is attributed to Israel s Iron Dome air defenses, large-scale troop mobilization, and intensive bombing campaigns. Despite these challenges, Israel s finance minister maintains that the economy is strong and credit ratings should rebound once the war ends. However, the war has led to a narrowing investor base, with foreign investors pulling back from the domestic bond market. The share held by non-residents declined to 8.4% in July from 14.4% in September of the previous year. Equity investors have also reduced their holdings of Israeli stocks, with global funds ownership at its lowest in a decade. The war has also affected Israel s key sectors, with displacements, worker shortages, and restrictions on Palestinian workers hindering agriculture and construction. The economy has not yet recovered from a 20% plunge in the fourth quarter of the previous year. To address these challenges, the government has pledged $160 million in public money to boost venture capital funding for the crucial tech sector, which accounts for 20% of Israel s economy. However, rising borrowing costs and economic pressure remain a concern. Local investors are looking for signs of consolidation efforts from the government to continue funding the sizeable deficit. In summary, Israel s economy is facing significant challenges due to the ongoing war, with rising borrowing costs, credit rating downgr
Source: english.aawsat.com
Published on 2024-10-06