【ESG News】Global Trends Biweekly Newsletter Issue 14 (2024.8.12-2024.8.23)

Hong Kong China ESG trends

Hong Kong, Shenzhen sign conservation pact

The Hong Kong and Shenzhen governments on Thursday signed an agreement to strengthen cooperation in areas such as conservation and pollution control. The pact was signed during a ceremony at the University of Hong Kong to mark National Ecology Day. The agreement is also aimed at stepping up joint efforts to combat climate change, ecological promotion and education, as well as preserving biodiversity.

Source: RTHK (https://news.rthk.hk/rthk/en/component/k2/1766260-20240815.htm)

HKIC-backed start-up Spark forms historic Thai partnership for EV charging stations

An electric vehicle (EV) start-up backed by Hong Kong’s government-owned investment arm has formed a partnership with a Thai energy company, the first of its kind overseas, to supply green transport solutions. The Hong Kong Investment Corporation (HKIC)-backed Spark and Bangchak plan to set up more than 1,000 EV charging stations within the next five years in Thailand to enhance the EV charging network in the Southeast Asian nation amid rapid adoption of battery-powered cars.

Source: SCMP (https://www.scmp.com/business/companies/article/3275423/hkic-backed-start-spark-forms-historic-thai-partnership-ev-charging-stations)

International ESG trends

Australia Passes Landmark Bill Mandating Climate Risk Disclosures for Companies, Enhancing Transparency and Global Alignment

Australia’s Senate has passed the Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024, setting the stage for a new era of mandatory climate risk disclosures. Starting in 2025, large Australian companies—both listed and unlisted—will be required to provide standardized climate information, a move welcomed by the investor community as a significant step toward transparency and accountability.

Source:  ESG News (https://esgnews.com/australia-passes-landmark-bill-mandating-climate-risk-disclosures-for-companies-enhancing-transparency-and-global-alignment/)

Egypt launches Africa’s 1st carbon market, paving way for economic, environmental sustainability

Egypt has launched its first regulated voluntary carbon market for registering, issuing, and trading carbon reduction certificates, a significant step towards achieving economic and environmental sustainability, according to Rania Al-Mashat, Minister of Planning and Economic Development.

Source:  Daily News Egypt (https://www.dailynewsegypt.com/2024/08/13/egypt-launches-africas-1st-carbon-market-paving-way-for-economic-environmental-sustainability/)

In shift, US backs global target to reduce plastic production, source says

The United States, one of the world's biggest plastic makers, will support a global treaty calling for a reduction in how much new plastic is produced each year in a major policy shift, a source close to U.S. negotiators told Reuters on Wednesday. The change away from its earlier calls to leave such decisions up to each country puts the U.S. in direct opposition to countries like Saudi Arabia and China.

Source:  Reuters (https://www.reuters.com/sustainability/shift-us-backs-global-target-reduce-plastic-production-source-says-2024-08-14/#:~:text=WASHINGTON%2C%20Aug%2014%20(Reuters),negotiators%20told%20Reuters%20on%20Wednesday.)

Mainland China ESG trends

The "2024 High-quality Development Forum for Listed Companies" was held in Beijing

On the 7th, the "2024 High-quality Development Forum of Listed Companies" sponsored by China Business Newspaper was held in Beijing, contributing wisdom and strength to further improve the development quality of listed companies and boost the high-quality development of China's economy. At the forum, China Business Journal, together with the Listed Companies Research Center of Chinese Academy of Social Sciences, released the Development Report of China's Listed Companies (2024), which aims to systematically record the development of China's listed companies, feature the value assessment of China's listed companies, and discover China's macro-economic operation situation from the micro-listed companies' operation. The future trend of economic development and capital market reform is forecasted.

Source: CNFIN (https://www.cnfin.com/cmjj-lb/detail/20240814/4088872_1.html)

The plan to promote ESG development in Tianjin Port Free Trade Zone has been approved

Recently, the Tianjin Port Free Trade Zone Work Plan on Promoting the Development of Environmental and Social Governance (ESG) system and Improving Environmental Performance Level (Trial) has been approved by the Management Committee, and will provide guidance for enterprises in the zone to implement environmental, social and corporate governance strategies. In the next step, Tianjin Port Free Trade Zone will take enterprise perception as the core, supporting the introduction of incentive measures to promote enterprise ESG development, promote the comprehensive improvement of ESG performance level of enterprises in the zone, make good progress in further comprehensively deepening reform, and create a market-oriented, international and law-based business environment.

Source：Tianjin Port Free Trade Zone (https://mp.weixin.qq.com/s/YTrNCZqQNUxhnPz8op8G1g)

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