Domestic ESG News

  • CLP: Research and Adjustment of Combination to Achieve Carbon Neutrality Target by 2050

In order to meet the goal of achieving carbon neutrality by 2050, the CLP said earlier that it was studying adjustments to its power generation mix, including importing more renewable energy from Hong Kong and the Mainland and gradually converting existing natural gas power generation to hydrogen. Ruan Su Shaomei said that hydrogen technology is currently being developed and tested globally, and the economic benefits are not known. It is estimated that a timetable will be established between 2030 and 2040.

Reference: https://hd.stheadline.com/news/

  • Financial institutions such as HSBC and Citigroup intend to promote plans to assist Asian countries in shutting down coal-fired power plants

The relevant plan will promote public-private cooperation to buy all the equity, debt and preferential financing of coal-fired power plants, and then gradually close them within 15 years, give employees time to find new jobs or retire, and help the country switch to renewable energy.

Reference: https://www.hk01.com/

  • Create a sustainable future for 5G: 5G-Advanced Innovation Industry Summit

On August 3, China Mobile and Huawei jointly held the “Dual-chain integration to create a 5G sustainable future” 5G-Advanced Innovation Industry Summit in Beijing, focusing on the three major goals of the “5G-Advanced Action Plan”:

– In order to meet the ever-increasing digital demand, 5G technology needs to continue to evolve

– Match the needs of multi-scenario networks and diversified terminals in various industries and accelerate the penetration of 5G in various industries

– Green 5G will improve the energy efficiency of 5G equipment, sites and networks, and help society to achieve carbon neutrality goals.

Reference: http://finance.people.com.cn/BIG5/n1/2021/0803/c1004-32180282.html

Global ESG News

  • Brazil governors meet with U.S. envoy Kerry in appeal for climate aid

Brazilian state governors met with the U.S. climate envoy to request funding for conservation projects aimed at combating climate change. They discussed how the U.S. can support Brazil’s efforts to fight illegal deforestation, its programs to mitigate climate change and its goal of reaching net-zero greenhouse gas emissions.

Reference: https://www.reuters.com/world/americas/brazil-governors-meet-with-us-envoy-kerry-appeal-climate-aid-2021-07-30/

  • Lightsource bp to Supply Renewable Energy to McDonald’s and eBay

McDonald’s and eBay announced agreements with Lightsource bp to purchase power from Louisiana’s largest solar project. The 345-megawatt Solar project will help them meet their sustainability commitments, such as McDonald’s target to reduce greenhouse gas emissions by 36% by 2030, and eBay’s goal to source 100% renewable energy by 2025.

Reference: https://www.esgtoday.com/lightsource-bp-to-supply-renewable-energy-to-mcdondalds-ebay/

  • Biden Targets Zero-Emission Vehicles to Reach 50% of Sales by 2030

President Biden is expected to sign an executive order targeting a 50% sales share for electric vehicles in 2030. It sets a new target for zero-emissions vehicles such as battery-electric, plug-in hybrid electric, and fuel cell electric. This will strengthen their climate goals in reducing their GHG emissions by 50-52% in 2030.

Reference: https://www.esgtoday.com/biden-targets-zero-emission-vehicles-to-reach-50-of-sales-by-2030/

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