【ESG News】Global Trends Biweekly Newsletter Issue 12 (2024.7.15-2024.7.26)

Hong Kong China ESG trends

HKSAR Government Launches HK$25 Billion Green Bond Offering

The HKSAR Government has successfully launched an HK$25 billion green bond offering, denominated in Renminbi (RMB), US dollars (USD), and euro (EUR) under the Government Sustainable Bond Programme.

Source: HKMA (https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/07/20240718-5/)

International ESG trends

ESMA Recommends Sustainability Disclosure Requirements for All Financial Products

EU markets regulator the European Securities and Markets Authority (ESMA) announced the issuance of a Public Statement on the first application of the European Sustainability Reporting Standards (ESRS), aimed at helping companies prepare for new sustainability reporting and supervisory requirements under the EU’s Corporate Sustainability Reporting Directive (CSRD), with the first reports set to begin next year. The regulator recommended bringing ESG data products “into the regulatory perimeter” in order to ensure that data is reliable and comparable, with the regulatory regime defining the duties and responsibilities of ESG data providers, and setting out disclosure, conflict of interest and quality requirements.

Source:  ESG Today (https://www.esgtoday.com/esma-recommends-sustainability-disclosure-requirements-for-all-financial-products/)

UK Government Confirms 2% Sustainable Aviation Fuel Requirement Beginning 2025

Newly appointed UK Secretary of State for Transport Louise Haigh announced in a statement to Parliament that the new government intends to move forward with an SAF mandate, requiring the introduction of sustainable aviation fuel (SAF) in the UK’s jet fuel mix, starting at 2% in 2025, and ramping up to 22% by 2040.

Source:  ESG Today (https://www.esgtoday.com/uk-government-confirms-2-sustainable-aviation-fuel-requirement-beginning-2025/)

Mainland China ESG trends

China plans low-carbon upgrades for coal power sector

China plans to cut carbon emissions in its coal power industry by piloting the firing of power plants using coal mixed with either green ammonia or biomass, as well as by carbon capture, utilisation and storage. The new approaches were listed in a government plan issued jointly by the National Development and Reform Commission and the National Energy Administration.

Source: Reuters (https://www.reuters.com/world/china/china-plans-low-carbon-upgrades-coal-power-sector-2024-07-16/#:~:text=BEIJING%2C%20July%2016%20(Reuters),carbon%20capture%2C%20utilisation%20and%20storage.)

Five departments issued the "Electrolytic Aluminum Industry Energy Saving and Carbon Reduction Special Action Plan"

The National Development and Reform Commission and other five departments issued the "Electrolytic Aluminum Industry Energy Saving and Carbon Reduction Special Action Plan". It is proposed that by the end of 2025, the capacity of the electrolytic aluminum industry above the energy efficiency benchmark level will account for 30%, the capacity below the energy efficiency benchmark level will complete technological transformation or elimination, the utilization ratio of renewable energy in the industry will reach more than 25%, and the production of recycled aluminum will reach 11.5 million tons.

Source：Securities Times (https://stcn.com/article/detail/1266711.html)

China sets green targets for data centers

China has unveiled an action plan on the green development of data centers, specifying a set of targets to accelerate the low-carbon transition of the sector. By 2025, the average power usage effectiveness (PUE) of data centers, a metric for energy efficiency, will be lowered to less than 1.5, according to the plan jointly issued on Tuesday by the National Development and Reform Commission, the Ministry of Industry and Information Technology and two central bureaus.

Source：Xinhua (https://english.news.cn/20240724/c098fb20c9a342f4a9e5117b0e1a881e/c.html)

Sustainable Finance Certification Public and Completed by Lianhe Green