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ESG News in Brief (6/3/2023 - 12/3/2023)ESG News In Brief (6/3/2023 - 12/2/2023)International Policies 1 Securities and Exchange Board of India Issues Consultation Paper on ESG Disclosure, Ratings and Investments The Securities and Exchange Board of India (SEBI) recently proposed stricter ESG rules aimed at reducing the risk of corporate "greenwashing" and rating abuse. According to a public consultation paper on the new policy, SEBI plans to regulate ESG rating providers, make disclosure mandatory, and allow only accredited ESG rating agencies to assign ESG ratings to listed entities, registered funds or index providers. In addition, SEBI proposes to adopt a user-pay model, whereas traditionally credit rating companies have received revenue from bond issuers. As the ESG disclosure framework evolves, the SEC India has tightened the requirements for ESG rating agencies, and it proposes that credit rating firms and research analysts with a net worth of at least INR 100 million (approximately US$1.3 million) be allowed to apply for accreditation. The new report incorporates the nine principles of the National Code of Responsible Business Conduct (NGBRC), which aims to create a more comprehensive disclosure framework and incorporates sustainability-related metrics." source: https://finance.stockstar.com/IG2023022800000950.shtml 2 Kansas Anti-ESG Legislation Would Cost Pension Fund $3.6 Billion, According to State Budget Report The proposals would require the Kansas Public Employees Retirement System (KPERS) to divest holdings in companies engaged in these “ideological boycotts,” require the state treasurer to publish a list of financial institutions engaged in these activities with banks on the list prohibited from receiving state deposits, and have state contractors provide written verification that they are not engaged in these boycotts. Chinese Policies 1 China's Carbon Neutral Progress Report (2022)" was officially released, emphasizing "breakthroughs before breakthroughs" On February 28, 2023, "China's Carbon Neutral Progress Report (2022)", jointly prepared by NPEC and NEC, was released in Beijing. The Report points out that in the short term, under the complex and changing international situation and the pressure of energy resources supply, it is still necessary to follow the basic national condition of coal-based, and do a good job of "breaking first and then establishing". In the system, the "1 + N" policy system will continue to improve, and will further develop and introduce the implementation plan for key industries such as steel, petrochemicals and chemicals, non-ferrous metals, building materials, electricity, oil and gas. At the same time, the data standards, work norms and system systems for carbon emission statistics and accounting, assessment and evaluation will be further clarified to speed up the transformation from "double control" of energy consumption to "double control" of carbon emission. At the same time, new models and new business models related to "double carbon" will continue to emerge. As a major supplier and consumer of wind power and photovoltaic equipment, China will have more new business and application scenarios in the process of new power system construction, including smart grid, intelligent micro-grid, distributed power supply, new energy storage, virtual power plant, and users, etc. The new platform economy represented by comprehensive energy service providers and carbon management digital platform service providers will be developed. Green consumption, circular economy and other new models are more sought after. Source: http://www.tanpaifang.com/tanzhonghe/2023/0301/94906.html 2 Guangzhou clearly "double carbon" to promote the "timetable", to promote the construction of green low carbon cycle development economic system Recently, the Guangzhou Municipal Party Committee and Municipal Government jointly issued the "Implementation Opinions on the Complete and Accurate Implementation of the New Development Concept to Promote the Carbon Summit and Carbon Neutral Work", which put forward five main goals of building a green low carbon cycle development economic system, improving energy utilization efficiency, reducing carbon dioxide emission level, improving renewable energy development level and enhancing the carbon sink capacity of the ecosystem, and hoping to build a global ecological city in 2060. It is hoped that Guangzhou will become a global model city of ecological civilization by 2060. The "Implementation Opinions" clarifies the "timetable" for Guangzhou to promote "double carbon": by 2025, it will achieve national leadership in energy resource utilization efficiency, renewable energy generation capacity will strive to reach 2.5 million kilowatts, forest coverage will reach 41.65%, and forest accumulation will reach 20 million. By 2030, the level of green low-carbon cycle development of economy and society will lead the country, and the efficiency of energy and resource utilization will be continuously improved. The level of control of energy consumption and carbon dioxide emission per unit of GDP will continue to be in the forefront of domestic cities, the installed capacity of renewable energy generation will strive to reach about 3 million kilowatts, the forest coverage and forest accumulation will remain at the level of 2025 without decreasing; by 2060, the level of green and low-carbon cycle development of economy and society and the efficiency of resource and energy utilization will be in the forefront of advanced cities in the world, and the goal of carbon neutrality will be successfully achieved. and build a global ecological civilization model city. Source: http://paper.people.com.cn/rmrb/html/2023-02/28/nw.D110000renmrb_20230228_4-14.html 3 "Research on ESG Information Disclosure Guidelines for Listed Companies Held by Central Enterprises" Completed Results Report Recently, under the guidance of the Property Rights Bureau and Social Responsibility Bureau of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the research topic "Research on ESG Information Disclosure Guidelines for Central Enterprises Holding Listed Companies" set up by the Research Center of SASAC has completed the results report. The Guidelines refer to the mainstream international ESG standards such as GRI, SASB and TCFD, especially the design of core indicators are compared with the mainstream international standards to seek the greatest consensus, while focusing on the Chinese characteristics and central enterprises' characteristics. At the same time, in order to improve the applicability of the Guidelines as much as possible, the disclosure level of indicators is stipulated in the Guidelines, and the indicators are divided into "basic disclosure" and "recommended disclosure", and listed companies holding central enterprises are encouraged to disclose indicators reflecting the characteristics of their industries according to the actual situation. or other ESG information that is suitable for disclosure." Source: https://gongyi.cctv.com/2022/07/30/ARTIwFE6k53alnAgeN6ePETU220730.shtml 4 Representatives of the NPC and CPPCC proposed to speed up the development of ESG information standards, compatible with international norms and local culture During the NPC and CPPCC, several representatives put forward ESG-related suggestions. Yin Tongyue, deputy to the National People's Congress and secretary of the Party Committee and chairman of Chery Holding Group, proposed that the Securities Regulatory Commission should speed up the development of localized ESG information disclosure standards and rating and scoring rules, which are compatible with foreign general norms and Chinese society and culture, and that all rating agencies should simultaneously release the results evaluated according to the unified scoring rules while retaining their own norms. Source: https://www.jiemian.com/article/9014365.html International Enterprises 1 Hiscox reveals ESG syndicate launch plan Specialist insurer and reinsurer Hiscox is taking steps to capitalise on global economies’ increasing interest and investment in transition and green technologies with a new environmental, social and governance (ESG) syndicate, the company revealed today. Source: https://www.reinsurancene.ws/hiscox-reveals-esg-syndicate-launch-plan/ 2 Stevanato Group Secures �130 Million ESG-Linked Financing to Support Sustainable Global Growth Stevanato Group S.p.A., a global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries, announced two separate agreements with BNL BNP Paribas and Cassa Depositi e Prestiti Group (CDP) to obtain ESG-linked funds to support its ongoing global expansion. 3 EY, IBM Partner to Offer ESG Data and Sustainability Strategy Solutions With plans to provide offerings orchestrated with leading technologies and across diverse hybrid IT landscapes, anticipated solutions under the collaboration include Scope 3 greenhouse gas (GHG) emissions accounting and management, ESG Managed Services, and EY’s “SEAM” tool for scope 1, 2 and 3 carbon capture, analysis and decision support. Source: https://www.esgtoday.com/ey-ibm-partner-to-offer-esg-data-and-sustainability-strategy-solutions/ Chinese Enterprises 1 Longhu was again downgraded by the ESG rating agency Sustainalytics to maintain the best rating performance of domestic real estate enterprises Recently, the world's leading environmental, social and corporate governance (ESG) rating and research company Sustainalytics released the latest rating report. According to the report, Longhu Group continued to maintain the "low risk" rating, and the ESG risk score was further reduced from 15.8 to 15.2 (the lower the score, the lower the risk), which won the best rating of domestic real estate enterprises for two consecutive years. This achievement fully demonstrates the excellent management of Longhu in the ESG field. In 2022, Longhu further strengthened the ESG management system, continued to carry out relevant measures in environmental protection, social responsibility, and corporate governance, and made significant progress in business ethics, emissions, wastewater and waste management, occupational health and safety, and corporate governance, which was highly recognized by Sustainalytics and awarded a low risk score. Source: http://stock.10jqka.com.cn/hks/20230309/c645386074.shtml 2 Continue to increase ESG investment, Ant Group upgraded the original US $6.5 billion syndicated loan to ESG-linked syndicated loan Recently, the Asian financial media The Asset selected an ESG sustainable development linked syndicated loan completed by Ant Group as the 2022 sustainable development capital market award and the best ESG sustainable development linked loan for science and technology enterprises. According to Treasury, the above loans of Ant Group are the first sustainable development-linked syndicated loans of Chinese Internet enterprises, and the relevant funds will be used to promote the implementation of their ESG strategic goals and carbon neutral goals. Source: https://promote.caixin.com/2023-03-07/102005189.html 3 Standard Chartered Group released the report "Climate Adaptation Economy" Standard Chartered Group recently released the report "Climate Adaptation Economy", which investigated the investment demand and economic impact of climate adaptation in 10 markets including China. According to the study, assuming that the global temperature rise is controlled within 1.5 ℃ in accordance with the Paris Agreement, by 2030, if the total investment in climate adaptation is less than 30 billion US dollars, these emerging markets may face an estimated loss of 377 billion US dollars in terms of climate damage and economic growth. According to the report, climate adaptation projects mainly include providing coastal barrier protection solutions for flood-prone areas, developing and planting drought-resistant crops, and establishing an early warning system for upcoming natural disasters. In the 1.5 ℃ warming scenario, by 2030, climate adaptation will provide an investment opportunity of US $8.1 billion for the Chinese market to prevent the potential loss of climate damage and economic growth of about US $111.9 billion. Source: https://promote.caixin.com/2023-03-07/102005340.html Other Infos 1 Yang Jie, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of China Mobile, said that the ESG work is facing a major opportunity The new generation of information technology is accelerating its integration into all fields of the whole process of economic and social development, and the new information service system composed of connectivity, computing power and capacity will become an important basis for the innovative development of the whole society, bringing profound changes in the way of production, lifestyle and social governance. The information and communication industry should broaden the service boundary, actively use the new generation of information technology, and promote the digital and intelligent transformation of environmental governance, social governance, and corporate governance through innovative models, optimizing processes, improving efficiency, and reducing costs, so as to create broad social value and promote the overall progress of society. source: http://www.eeo.com.cn/2023/0308/581017.shtml 2 ESG Investment and Women's Rights: March 8 is International Women's Day, a festival for women around the world to strive for equal rights. Gender equality is one of the United Nations Sustainable Development Goals (SDGs), an important part of social factors in ESGs, and a key factor in achieving diversity, equity and inclusion (DEI). Responsible investors can promote women's rights and promote gender equality by establishing an inclusive investment environment and carrying out responsible management of invested companies. Source: https://finance.sina.com.cn/esg/2023-03-08/doc-imykcfei0342577.shtml |
