ESG News in Brief (14/11/2022 - 20/11/2022)

Demostic Policies

International Enterprise

Costco will actively seek cooperation to set new emission reduction targets

Nestle plans to plant 10 million trees in Australia by 2025, contributing to net zero emissions

MS Amlin unveils new, three-year ESG strategy

Domestic Enterprises

Green and low carbon become the new key word of this year's "Double 11"

China Sustainable Investment (ESG) and Hainan Free Trade Port Construction Forum Held in Haikou

IRENA Calls on Countries to Close Renewable Energy Deployment Gap

1

China's top climate official said that China has drafted a new plan to control methane and will promote new technologies and financing mechanisms to reduce the increase in greenhouse gas emissions. The new action plan will lead to concrete measures to curb methane emissions from energy, agriculture and waste. In recent weeks, China's provincial governments have also pledged to take stronger action to control emissions, and will start a pilot national plan early next year to identify "best practices" for controlling and monitoring natural gas.

2

On November 12, on the occasion of the 105th anniversary of the establishment of Shanghai University of Finance and Economics, SUFE and Wells Fargo Fund jointly established the ESG Research Institute. Xu Tao, secretary of the party committee of Shanghai University of Finance and Economics, and Chen Ge, general manager of Fuguo Fund, unveiled the ESG Institute. Li Zengquan, vice president of Shanghai University of Finance and Economics, and Chen Ge signed a strategic cooperation agreement at the ceremony.

In the future, the Fuguo ESG Research Institute of SUFE will take "practicing ESG practice and promoting ESG ecological construction" as its mission, and will research and formulate a localized ESG database and index by referring to the mature international ESG concept and disclosure framework and combining China's specific national conditions. In this way, Shanghai University of Finance and Economics provides information disclosure basis for enterprises and relevant regulatory authorities, and provides investment reference for institutional and individual investors, which is of great practical significance for the high-quality development of China's economy, active participation in leading the formulation of international ESG standards, and the construction of a community of shared future for mankind.

3

On November 13, 2022, Xuan Changneng, Deputy Governor of the People's Bank of China, put forward four priorities for promoting green finance in the next step at the 2022 Annual Meeting of Green Finance Committee of the Chinese Society of Finance and Banking. First, continue to improve green finance standards, and vigorously improve carbon accounting and environmental information disclosure; Second, we will use adequate financial policies to support green and low-carbon transformation. Third, effectively guard against climate and environment-related financial risks; Fourth, we will deeply participate in international cooperation and governance on green finance.

4

Among them, the Plan points out that the field of energy science will focus on the national carbon peak major strategic objectives, strengthen the forward-looking layout and systematic deployment, to promote the energy revolution and reduce pollution and carbon reduction to provide high-quality source of scientific and technological support. By 2025, China's overall research level and technological innovation capability in the field of energy science will be significantly enhanced, with a number of original achievements with significant international impact, achieving a number of key core technology breakthroughs, and promoting the overall development of China's energy disciplines to reach the international advanced level.

5

"implementation plan" proposed "fourteen five" period, the non-ferrous metals industry structure, energy use structure is obviously optimized, low-carbon process research and development applications have made important progress, key varieties of energy consumption per unit of product, carbon emissions intensity further reduced, the supply of recycled metal accounted for more than 24% . During the "Tenth Five-Year Plan" period, the non-ferrous metals industry energy use structure significantly improved, electrolytic aluminum use renewable energy ratio of 30% or more, green low-carbon, circular development of the industrial system is basically established. Ensure that the non-ferrous metals industry to achieve the carbon peak by 2030.

6

the main goal was established, and by 2025, the concept of green low-carbon life and green low-carbon development norms will be popularly disseminated in schools and universities, and the concept of green low-carbon will enter the education system of schools and universities; relevant universities will initially build up a professional system of disciplines related to carbon peaking and carbon neutrality, and the scientific and technological innovation capacity and the level of training of innovative talents will be significantly improved.

7

The innovation center will strengthen the core key links and technical bottlenecks, promote the deep integration of the industrial chain and innovation chain, and build a world-class plateau clean energy science and technology innovation highland with the support of China Electricity Construction Institute of Survey and Design, and 14 governing units working together to build a "cooperation, open, common construction, and sharing" platform. It will contribute to the strengthening of energy and the prosperity of the people in Tibet.

The World Bank raised NOK 5 billion sustainable development bond to emphasize biodiversity

On November 16, 2022, the World Bank priced a 47.5-year NOK 5 billion floating rate sustainable development bond to support the sustainable management of biodiversity and ecosystem services and the integration of nature into development of developing countries. The bond will expire in June 2027.

Three-tier approach recommended for insurers to manage social sustainability

Since its launch by the United Nations (UN), the ESG (Environmental, Social and Governance) movement has grown into a global phenomenon that is reshaping the asset management and broader business landscape.

geneva-association-logoAccording to a recent report by The Geneva Association, despite the triumphant march of ESG, companies, investors and the public at large have struggled to grasp precisely what role the social or ‘S’ dimension, i.e. the impact of businesses on people, should play in investment and business decisions.

ESG Integration Forum Europe 2022

Regulators in Europe continue to develop regulations that impact sustainable finance, ESG reporters, and ESG raters. However, a section of the investment universe is becoming more vocal regarding their opposition to the ESG movement.

At the ESG Integration Forum – Europe 2022, you will join sustainability professionals, investor relations officers, and corporate secretaries to examine future investor expectations of company ESG performance and sustainability reporting.

India has laid out the steps it will take to achieve net zero by 2070

India has laid out the steps it will take to achieve net zero by 2070, releasing its Long-Term Low Emissions and Development Strategies (LT-LEDS) at the COP27 summit in Egypt. Just 56 countries have submitted LT-LEDS to the United Nations Framework Convention on Climate Change, including China, the United States and Japan.

The World Shipping Congress (WSC) released the "Declaration on Green Energy Initiative for Shipping

One of the key topics of the 2nd WSC held in Hong Kong on November 15 was the green transformation of the shipping industry. At the conference, 40 related organizations jointly issued the "Declaration on Green Energy Initiative for Shipping", advocating all relevant stakeholders in the green energy industry chain to act together to help achieve green energy transition in shipping industry to reduce carbon emissions.

COP27 released [Initiative to Strengthen Climate Adaptation and Resilience Building in Developing Countries]

At a press conference held during COP27, the China Association for Cooperation and Promotion of International Civil Society Organizations and the China Association for the Promotion of International Exchange of Civil Society Organizations jointly launched the "Initiative to Strengthen Climate Adaptation and Resilience Building in Developing Countries", calling on the world to raise awareness and capacity for extreme climate risks, enhance climate adaptation capacity of vulnerable regions and people, and build a beautiful home where prople and nature live together in harmony. 

Kazakhstan to build a global regional development center for green energy

According to the official website of the Prime Minister's Office of Kazakhstan on November 8, Prime Minister Smylov, who attended the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change in Egypt on the same day, noted that Kazakhstan is steadfast in its efforts to achieve the goals of the Paris Climate Agreement and strive to achieve carbon neutrality by 2060. Low-carbon development strategy to be adopted by the end of this year

Japan will suspend the carbon emissions surcharge and drop its inclusion in its 2023 tax reform plan to avoid adding to the burden on businesses and consumers already struggling to cope with soaring energy prices.

The Japanese government and ruling party lawmakers will look for other ways to fund the country's goal of net zero greenhouse gas emissions.

Costco will actively seek cooperation to set new emission reduction targets

Costco Wholesale will set new targets to reduce greenhouse gas emissions by next year. According to its partners, the retailer has been lagging behind on climate issues. Competitors, including Walmart Inc and CVS Corp., have set or plan to set targets for reducing their own and supply chain and customer base emissions. Costco is beginning to take climate change seriously as required by shareholders to enhance its competitiveness.

Nestle plans to plant 10 million trees in Australia by 2025, contributing to net zero emissions

Nestlé will announce at the COP27 Biodiversity Day that it aims to plant 10 million trees in Australia by 2025 in partnership with Greening Australia, Canopy and One Tree Planted. The cooperation among Nestl é, Greening Australia, Canopy and One Tree Planted will ensure that these trees are monitored within 28 years after maturity, thus bringing long-term environmental and economic benefits to the local area.The company will also cooperate with local landowners and communities to plant trees in areas related to the origin of Nestle raw materials, and Canopy, an Australian green market company, will register carbon credits with the Australian clean energy regulatory authority. The 10 million trees will restore local biodiversity, improve water quality and improve degraded soil. This ambitious project is part of Nestle's global reforestation plan, which aims to plant 200 million trees worldwide by 2030 as part of the company's efforts to achieve net zero emissions.

MS Amlin has said it is laying out a three-year sustainability roadmap in order to embed ESG into its business operations.

ms-amlin-logoAccording to the firm, the Sustainability Strategy sets out the steps which the company will take over the next 36 months and provides multi-point plans for how it will embed ESG criteria and monitor performance effectively. This will support MS Amlin’s commitment to minimise the environmental impacts of its operations globally while also building out more robust social and governance practices.

Johan Slabbert, chief executive officer of MS Amlin Underwriting, said: “MS Amlin has a key role to play in the transition to net-zero. Insurance is one of the enablers of growth and trade, meaning it can spearhead and support with the transition of economies and driving decarbonisation. This document and the subject at its heart, sustainability, touches every aspect of our business. Its scope is broad, the challenge is sizeable and will not be easily solved in a mere matter of years; however, the opportunity ahead of all of us is enormous. We’re immensely proud to have taken this essential step – after extensive consideration and consultation – and are ready for this next stage of our sustainability journey.”

This year's "Double 11", green and low-carbon has become the key word. 130000 rookie post stations across the country launched the activity of "replacing eggs with express packages". The old express packages can be exchanged for eggs and other gifts when picking up the express. It is estimated that 6 million packages will be recycled during the period for on-site recycling; If it cannot be used for the second time, it will be pulped into a notebook.According to Tmall's statistics, more than 16.33 million people bought green goods during the "Double 11" period. This year, the number of green low-carbon goods on the "Double 11" hit 1.63 million, double the same period last year.

China Sustainable Investment (ESG) and Hainan Free Trade Port Construction Forum Held in Haikou

according to I understand that the theme of this forum is "sustainable development under the background of double carbon". Although the domestic epidemic situation is severe, it still attracts nearly 300 government leaders, experts and scholars, representatives of outstanding listed companies and institutional investors to attend the meeting, and nearly 70 guest speakers. The two-day conference period included 3 hot topic forums, 3 professional sub-forums, and the sub-forums such as the introduction of free trade port policies were even full of people. The conference was sponsored by the Sanya Municipal People's Government and the Hainan Provincial Development and Reform Commission, organized by the Sanya Economic Research Institute, co-organized by the Hainan Provincial Economic Research Center, and the Sanya Central Business District Administration, and supported by the Yearbook of China Securities Investment Fund.

IRENA Calls on Countries to Close Renewable Energy Deployment Gap

The latest release of a new report titled "10 Years: Progress for Action" mentions that the share of renewable energy in global electricity needs to more than double by 2030 to meet climate targets, and that investment in the sector must double within 10 years.