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ESG News in Brief (19/12/2022 -25/12/2022)Briefing International Enterprises Allianz (AGCS) installs dedicated ESG organisation Japan’s Mitsui OSK, Kansai Electric sign MoU on carbon capture and storage Mexico's Pemex sees poor environmental record as threat to financing Domestic Policies Canada to Require 100% of New Cars Sold to be Zero Emission Vehicles by 2035 UK Awards Over ￡80 Million to Projects Converting Waste to Sustainable Jet Fuel Other Information How Beijing’s circular economy policy is driving recycling in carbon-intensive sectors 1 International Enterprises 1 Allianz (AGCS) installs dedicated ESG organisation At the same time, Ralf Heintges was appointed Global Head of ESG & Sustainability Governance in September 2022, Within this role he oversees the decarbonization of AGCS’s own insurance portfolio over the coming decades in line with Allianz Group’s membership in the UN-convened Net Zero Insurance Alliance (NZIA). At AGCS we are committed to realizing Allianz Group’s sustainability strategy and becoming an ESG leader in the corporate insurance segment,” said AGCS Chief Underwriting Officer Specialty Renate Strasser. 2 Japan’s Mitsui OSK, Kansai Electric sign MoU on carbon capture and storage The value chain includes the separation, capture, transportation, injection and storage of carbon dioxide emitted from KEPCO’s thermal power plants, said MOL in a statement on Wednesday. 3 Mexico's Pemex sees poor environmental record as threat to financing MEXICO CITY (Reuters) - Mexican state oil company Petroleos Mexicanos (Pemex) said it has been falling behind in a global race to transition from fossil to renewable energy sources, and that stricter demands from environmentally conscious investors pose a threat. FILE PHOTO: Gas is flared at the state energy company Petroleos Mexicanos (Pemex) Perdiz Plant, which is unable to process the vast volumes of gas sent from the Ixachi field, outside of Tierra Blanca, Mexico May 4, 2022. 2 Domestic Policies 1 Canada to Require 100% of New Cars Sold to be Zero Emission Vehicles by 2035 The proposed regulations help to reduce emissions from our transportation and are a key component of the 2030 Emissions Reduction Plan, which puts Canada on a path to achieve at least a 40 percent reduction in emissions by 2030. Canada’s Passenger Automobile and Light Truck Greenhouse Gas Emission Regulations have helped drive down emissions in this sector by establishing progressively more stringent greenhouse gas standards over the 2017 to 2025 model years. 2 UK Awards Over ￡80 Million to Projects Converting Waste to Sustainable Jet Fuel The largest awards included a ￡27 million grant to UK-based sustainable fuels technology company Velocys, for its Altalto Sustainable Aviation Fuel project in Immingham, UK, which will convert black bin bag waste into SAF, and ￡25 million to carbon capture and transformation (CCT) company LanzaTech for DRAGON, a commercial scale plant in South Wales that will convert steel mill off-gases into ethanol and then uses alcohol-to-jet technology to produce SAF. 3 Other Information 1 How Beijing’s circular economy policy is driving recycling in carbon-intensive sectors The combined recycled waste volume of 7,400 Chinese companies listed in Hong Kong, Shenzhen and Shanghai rose 46 per cent last year, Miotech says Increased recycling could be a long-term trend, despite a ‘short-term hiccup’ in 2022 |
