https://www.scmp.com/rss/325217/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com The explosion of plastic in our everyday lives has contributed to a relentless growth in waste, and while many people try their best to recycle their trash, a new report estimated that the US only recycles between five and six per cent of the plastic it produces. While the rate is a drop from the 8.7 per cent tallied in 2018, what is actually happening is the statistics more accurately describe how much plastic had always been recycled. The numbers now reflect China’s ban on plastic waste... https://www.scmp.com/news/people-culture/environment/article/3178077/how-mainland-chinas-waste-import-ban-2018-impacted?utm_source=rss_feed https://www.scmp.com/news/people-culture/environment/article/3178077/how-mainland-chinas-waste-import-ban-2018-impacted?utm_source=rss_feed Sun, 22 May 2022 07:00:13 +0000 China’s largest freshwater lake may be cut off from the Yangtze River during the dry season once the plan for building a dam on the lake is finally approved. Authorities in the eastern province of Jiangxi are soliciting public opinion over building a 3km (1.9 mile)-long and 23.4 metre (77 foot)-high sluice gate between Poyang Lake and the Yangtze River to control water levels and alleviate drought in winter. The lake is one of the two large bodies of water that naturally connect to the Yangtze... https://www.scmp.com/news/china/science/article/3178000/plans-are-revived-build-dam-poyang-lake-cutting-it-yangtze-river?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3178000/plans-are-revived-build-dam-poyang-lake-cutting-it-yangtze-river?utm_source=rss_feed Tue, 17 May 2022 05:00:16 +0000 The Hong Kong government’s inaugural Retail Green Bond drew enthusiastic response from investors when it opened for subscription last week. The bond has an initial tranche of HK$15 billion (US$1.9 billion), with the option to increase to HK$20 billion if there is demand. The government last July doubled the size of its green bond programme, initiated in 2017, to HK$200 billion. After selling just over HK$57 billion to institutional investors since 2019, the investment product is now available to... https://www.scmp.com/business/article/3176452/hong-kongs-retail-green-bond-2022-how-does-your-investment-help-fight?utm_source=rss_feed https://www.scmp.com/business/article/3176452/hong-kongs-retail-green-bond-2022-how-does-your-investment-help-fight?utm_source=rss_feed Wed, 04 May 2022 05:48:48 +0000 In the summer of 1998, gigantic floods swept across five of China’s longest rivers and their distributaries, claiming more than 3,000 lives in a catastrophe that racked up at least 11.5 billion yuan (US$1.8 billion) in economic losses. China’s worst floods in a century set off alarms in Beijing, alerting then premier Zhu Rongji to the devastating effects of erosion and denudation of hillsides along major rivers, all caused by the clearing of forests to make way for arable and industrial land to... https://www.scmp.com/business/article/3175189/climate-change-china-has-new-carbon-storage-tool-decades-frenzied-tree?utm_source=rss_feed https://www.scmp.com/business/article/3175189/climate-change-china-has-new-carbon-storage-tool-decades-frenzied-tree?utm_source=rss_feed Sat, 23 Apr 2022 02:00:29 +0000 Sustainable investing has continued to accelerate in global markets, with China overtaking the United States as the second-largest climate funds market in the world last year, reflecting favourable domestic conditions for environmental, social and governance (ESG) investing, Morningstar said. Assets in the Chinese climate funds market grew by 149 per cent from 2020 to US$46.7 billion last year. The US, bumped into third place after Europe and China in market size, saw assets totalling US$31... https://www.scmp.com/business/markets/article/3175119/earth-day-china-tops-us-worlds-second-largest-climate-funds-market?utm_source=rss_feed https://www.scmp.com/business/markets/article/3175119/earth-day-china-tops-us-worlds-second-largest-climate-funds-market?utm_source=rss_feed Fri, 22 Apr 2022 01:42:33 +0000 Hong Kong’s rule setters and would-be market makers of a credible regional carbon market have their work cut out for them, according to regulators and sector experts. The city needs to decide whether and how it will regulate carbon credit trading, as it seeks to act as a bridge between surging global demand for carbon footprint offsets and the world’s largest potential supply of carbon credits in China, the cross-agency steering group – set up by the Hong Kong government to study green and... https://www.scmp.com/business/article/3174773/climate-change-hong-kong-has-much-ground-cover-becoming-regional-carbon?utm_source=rss_feed https://www.scmp.com/business/article/3174773/climate-change-hong-kong-has-much-ground-cover-becoming-regional-carbon?utm_source=rss_feed Wed, 20 Apr 2022 03:00:24 +0000 With disposable masks, self-testing kits, takeaway meals and shopping deliveries becoming part of daily life these days, the need for greater environmental awareness has seemingly fallen victim to the coronavirus pandemic. But this does not mean the push for greener lifestyles should be abandoned for good. Indeed, the global health crisis of the past two years or so should bring about a greater sense of urgency to introduce tougher regulations against pollution in the long run. Slowly but... https://www.scmp.com/comment/opinion/article/3174803/urgency-needed-fight-against-plastic?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3174803/urgency-needed-fight-against-plastic?utm_source=rss_feed Tue, 19 Apr 2022 22:30:12 +0000 Companies in the Asia-Pacific region are still largely indifferent to efforts to contain global warming and other climate-change risks, with only 8 per cent signing up to plans to reach net-zero targets, according to an industry report. Only 8 per cent of companies in the region have put in place their plans to meet net-zero carbon emission targets at the end of 2021, according to the Carbon Disclosure Project (CDP). It underscores the urgency for chief executive officers to step up in the... https://www.scmp.com/business/article/3174627/climate-change-asia-pacific-ceos-boardrooms-show-apathy-large-majority?utm_source=rss_feed https://www.scmp.com/business/article/3174627/climate-change-asia-pacific-ceos-boardrooms-show-apathy-large-majority?utm_source=rss_feed Mon, 18 Apr 2022 05:30:09 +0000 Hong Kong needs to catch up on electric vehicle (EV) charging facilities to meet demand, as EV use could more than double to 10 per cent by 2025, according to Cornerstone Technologies. “Hong Kong’s EV fleet has been growing at 30 to 40 per cent per year in the past few years,” Vincent Yip Siu-hong, the CEO of Cornerstone, a key installer in the city, told the Post. “We expect the penetration to reach around 10 per cent in a few years.” Hong Kong had 27,860 registered private EVs in January,... https://www.scmp.com/business/article/3174434/hong-kong-needs-more-charging-facilities-ev-sales-are-expected-more-double?utm_source=rss_feed https://www.scmp.com/business/article/3174434/hong-kong-needs-more-charging-facilities-ev-sales-are-expected-more-double?utm_source=rss_feed Sun, 17 Apr 2022 05:30:21 +0000 Less than half of industrial companies in China have taken action to cut greenhouse gas emissions, despite most saying the scale of their current emissions will affect business prospects, according to a survey conducted by TUV Rheinland. While some 72 per cent of 650 respondents said they know the sources and scale of their greenhouse gas emissions, only 43 per cent have either set up a team or worked with third party professionals to tackle the issue, according to the Germany-based industry... https://www.scmp.com/business/article/3173020/climate-change-few-chinese-manufacturers-have-plans-curb-emissions-despite?utm_source=rss_feed https://www.scmp.com/business/article/3173020/climate-change-few-chinese-manufacturers-have-plans-curb-emissions-despite?utm_source=rss_feed Tue, 05 Apr 2022 01:30:09 +0000 The Canadian International School Hong Kong (CDNIS) hosted the second annual Hong Kong Sustainable Development Goals (SDG) Summit on March 12. In a world full of negative headlines, the 2022 SDG Summit was a breath of fresh air, and a sign that Asia’s youth is focused on making positive change. Hosted by the CDNIS Global Goals Council (GGC), this was the city’s second student-led virtual SDG summit and featured more than 600 students from Hong Kong and other parts of Asia, as well as an array of... https://www.scmp.com/news/hong-kong/education/article/3172515/young-voices-are-leading-climate-crisis-fight-how-hong?utm_source=rss_feed https://www.scmp.com/news/hong-kong/education/article/3172515/young-voices-are-leading-climate-crisis-fight-how-hong?utm_source=rss_feed Fri, 01 Apr 2022 04:00:26 +0000 Hong Kong-based MioTech, a sustainability data and solutions provider backed by investors including GIC and HSBC, is expanding into Singapore to tap demand from companies looking to reduce carbon emissions and boost competitiveness. Xu Tian, who joined the start-up as chief operating officer in February, will spearhead the move. Xu will help expand its reach in the corporate sector, using his experience in mobile internet from stints at e-commerce firm Pinduoduo and artificial intelligence and... https://www.scmp.com/business/banking-finance/article/3171496/miotech-hong-kong-sustainability-start-backed-gic-and-hsbc?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3171496/miotech-hong-kong-sustainability-start-backed-gic-and-hsbc?utm_source=rss_feed Wed, 23 Mar 2022 05:58:18 +0000 Hong Kong property companies have sprung into action – they are assessing their exposure to climate change impact, devising plans and adopting measures to bolster their resilience and capacity to adapt, especially to extreme flood and storm risks. It remains to be seen, however, whether such plans and their implementation will be sufficient to prevent asset damage and life loss in coming decades due to the uncertainty and severity of climate change. A stress test found that about 28 per cent of... https://www.scmp.com/business/article/3171150/climate-change-hong-kong-property-firms-are-assessing-risks-and-improving?utm_source=rss_feed https://www.scmp.com/business/article/3171150/climate-change-hong-kong-property-firms-are-assessing-risks-and-improving?utm_source=rss_feed Sun, 20 Mar 2022 04:45:19 +0000 Asia’s largest plastic producers, from China to India, Saudi Arabia and Japan were among the 175 United Nations member states that last week indicated their approval of a plan to create the world’s first global plastics treaty by 2024. Environmentalists and bureaucrats working on plastics policy around the region have cheered the accord struck at the UN Environment Assembly as a “historic” moment, but some insiders say it is too early to pop the champagne. Much of the conversation surrounding... https://www.scmp.com/week-asia/health-environment/article/3169587/landmark-treaty-against-plastic-pollution-struck-un?utm_source=rss_feed https://www.scmp.com/week-asia/health-environment/article/3169587/landmark-treaty-against-plastic-pollution-struck-un?utm_source=rss_feed Tue, 08 Mar 2022 01:00:31 +0000 Asia’s publicly traded companies lag behind companies in the United States and Europe in their climate impact disclosures, underscoring the work that remains to be done to get them to comply with investors’ expectations. Stocks listed on the exchanges of Hong Kong, Shanghai, Singapore, Tokyo and Mumbai fare poorly in disclosures, where between 28 and 52 per cent failed last year to inform investors about their greenhouse gas emissions and their mitigation plans, according to a survey by ESG... https://www.scmp.com/business/banking-finance/article/3168960/esg-investing-asian-listed-firms-have-lot-catching-do?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3168960/esg-investing-asian-listed-firms-have-lot-catching-do?utm_source=rss_feed Wed, 02 Mar 2022 12:00:19 +0000 While billions of people and ecosystems least able to cope are being hit hardest by climate change, trillions of dollars worth of assets will be exposed to risks from storms and rising sea levels in the future, scientists said. The world faces unavoidable climate hazards as global warming reaches 1.5 degrees Celsius within two decades from pre-industrial levels, they said in the latest Intergovernmental Panel on Climate Change (IPCC) report released on Monday. Human activities have already... https://www.scmp.com/business/article/3168695/climate-change-global-assets-worth-us127-trillion-be-exposed-climate-risks?utm_source=rss_feed https://www.scmp.com/business/article/3168695/climate-change-global-assets-worth-us127-trillion-be-exposed-climate-risks?utm_source=rss_feed Mon, 28 Feb 2022 11:00:24 +0000 The world risks failing to achieve its net-zero carbon emissions ambitions by mid-century, if natural gas pipeline projects long enough to go around the world four times – with nearly a third in China – are not stopped, according to an environmental advocacy. Of the nearly 193,400 kilometres of pipeline being built or in pre-construction development globally, about 56,100km are in China, said Global Energy Monitor (GEM), which catalogues fossil fuel and renewable energy projects worldwide. Its... https://www.scmp.com/business/article/3168002/climate-change-world-risks-falling-behind-environmental-goals-if-natural?utm_source=rss_feed https://www.scmp.com/business/article/3168002/climate-change-world-risks-falling-behind-environmental-goals-if-natural?utm_source=rss_feed Wed, 23 Feb 2022 02:00:14 +0000 China’s cement makers face significant challenges when it comes to adopting the technology they need to capture their carbon dioxide emissions, according to a technology supplier to industry leader China National Building Materials Group. An undeveloped market for the collected gas and the absence of a system to incentivise emissions reduction means corporate efforts remain at a pilot stage, said Calgary-based Delta CleanTech’s president Jeff Allison. “The main challenges include what to do with... https://www.scmp.com/business/china-business/article/3167959/climate-change-chinese-cement-makers-face-carbon-capture?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3167959/climate-change-chinese-cement-makers-face-carbon-capture?utm_source=rss_feed Wed, 23 Feb 2022 00:30:14 +0000 China’s steel industry, which has some of the world’s youngest production facilities, will go through a multistage technology-driven decarbonisation journey, according to a senior executive at Australian mining giant BHP, which is helping the sector make this transition. The installation of carbon capture and storage facilities will be among technologies that will be key to reducing the carbon footprint of the industry in China and India – the world’s two largest steel producers – in the medium... https://www.scmp.com/business/article/3167516/climate-change-technology-key-decarbonisation-chinese-steel-mills-bhp?utm_source=rss_feed https://www.scmp.com/business/article/3167516/climate-change-technology-key-decarbonisation-chinese-steel-mills-bhp?utm_source=rss_feed Sun, 20 Feb 2022 04:00:18 +0000 Delhi is home to 253 bird species, and almost all of them are at risk. Rapid industrialisation, construction, shrinking wetlands and human practices such as kite flying are the main reasons. But hope remains. Three men in India’s capital city work tirelessly to remedy the damage done by humans. Saving sparrows Rakesh Khatri, 60, has calloused hands and an easy laugh. His brown eyes sparkle with delight when he talks about birds. Khatri has been making bird nests from coconut shells, discarded... https://www.scmp.com/week-asia/people/article/3167554/bird-men-delhi-saving-sparrows-black-kites-and-all-breathes-one?utm_source=rss_feed https://www.scmp.com/week-asia/people/article/3167554/bird-men-delhi-saving-sparrows-black-kites-and-all-breathes-one?utm_source=rss_feed Sat, 19 Feb 2022 07:00:18 +0000 Styrofoam boxes used to bring vegetables over the border have piled up on Hong Kong streets after mainland Chinese authorities refused to take them back due to the city’s worsening Covid-19 crisis, according to truck drivers. The containers are a staple of the fresh food trade and usually hauled back to the mainland wholesale markets where they are used again. But some drivers told the Post on Wednesday that surging infections had made the market operators wary about contracting the virus from... https://www.scmp.com/news/hong-kong/health-environment/article/3167311/walls-styrofoam-boxes-pile-across-hong-kong-after?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3167311/walls-styrofoam-boxes-pile-across-hong-kong-after?utm_source=rss_feed Wed, 16 Feb 2022 13:41:41 +0000 Pollution by states and companies is contributing to more deaths globally than Covid-19, according to a UN environmental report published on Tuesday, calling for “immediate and ambitious action” to ban some toxic chemicals. The report said pollution from pesticides, plastics and electronic waste is causing widespread human rights violations as well as at least 9 million premature deaths a year, and that the issue is largely being overlooked. The coronavirus pandemic has caused close to 5.9... https://www.scmp.com/news/world/article/3167160/pollution-causing-more-deaths-covid-19-says-un-report-immediate?utm_source=rss_feed https://www.scmp.com/news/world/article/3167160/pollution-causing-more-deaths-covid-19-says-un-report-immediate?utm_source=rss_feed Tue, 15 Feb 2022 12:37:33 +0000 Beijing’s announcement of five-year energy consumption reduction targets for 17 energy-intensive industries to drive the reduction of carbon dioxide and other pollutants will spur industry consolidation, analysts said. According to a joint circular published on Friday by regulators overseeing industrial development and environmental and energy policies, higher energy efficiency bars have been set for companies in sectors ranging from oil refining to non-ferrous metals smelting. For example,... https://www.scmp.com/business/article/3166968/climate-change-chinas-new-five-year-energy-efficiency-targets-drive-heavy?utm_source=rss_feed https://www.scmp.com/business/article/3166968/climate-change-chinas-new-five-year-energy-efficiency-targets-drive-heavy?utm_source=rss_feed Mon, 14 Feb 2022 08:30:15 +0000 China stopped building and funding coal projects in nations covered by its Belt and Road Initiative last year, but support for oil and gas ventures surged, according to a study published by Fudan University. China’s oil and gas engagements – investment and construction – in the 144 nations covered by the initiative tripled to US$10.9 billion last year from US$3.7 billion in 2020, the report by the Shanghai university’s green finance and development centre showed. However, support for renewable... https://www.scmp.com/business/article/3166523/belt-and-road-initiative-china-ended-coal-financing-last-year-oil-and-gas?utm_source=rss_feed https://www.scmp.com/business/article/3166523/belt-and-road-initiative-china-ended-coal-financing-last-year-oil-and-gas?utm_source=rss_feed Fri, 11 Feb 2022 00:30:12 +0000 German chemicals firm Covestro is likely to deploy sustainably sourced hydrogen at its Shanghai plant, its first facility globally, putting it on track to reach its decarbonisation goal. Covestro last month signed a memorandum of understanding to procure up to 100,000 tonnes of green hydrogen per year from Fortescue Future Industries (FFI), which will allow it to reduce greenhouse gas emissions by 900,000 tonnes a year. The Leverkusen-based firm reported 5.45 million tonnes of greenhouse gas... https://www.scmp.com/business/article/3166123/climate-change-covestro-plans-use-green-hydrogen-make-mattresses-water?utm_source=rss_feed https://www.scmp.com/business/article/3166123/climate-change-covestro-plans-use-green-hydrogen-make-mattresses-water?utm_source=rss_feed Mon, 07 Feb 2022 23:30:19 +0000 As the climate crisis worsens, governments and organisations are increasingly looking to green finance as a way to raise funds for sustainable projects and infrastructure. Yet despite growing investment in the sector, green finance is stifled by inefficiencies and irregularities, preventing it from bridging the substantial gap in finance needed to address the environmental challenges facing the world. A new blockchain-based infrastructure has the potential to transform the system. The urgency to... https://www.scmp.com/comment/opinion/article/3165896/how-blockchain-technology-can-help-solve-asias-need-green-finance?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3165896/how-blockchain-technology-can-help-solve-asias-need-green-finance?utm_source=rss_feed Sun, 06 Feb 2022 10:15:14 +0000 There has been talk in recent months about which Asian city is best positioned to become a regional hub for philanthropy. Hong Kong is the obvious and natural choice for four reasons. First, Hong Kong has a long and impressive history of philanthropy shaped by three forces: British colonialism, Chinese values and a laissez faire state. When the British ruled Hong Kong, they followed a policy of “positive non-intervention”, which meant that trade was the focal point of government, while... https://www.scmp.com/comment/opinion/article/3165806/hong-kong-poised-be-asias-regional-philanthropy-hub?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3165806/hong-kong-poised-be-asias-regional-philanthropy-hub?utm_source=rss_feed Sat, 05 Feb 2022 11:30:27 +0000 Publicly listed companies in Hong Kong, including blue chips, reported only a marginal improvement in the poor representation of women on their boards last year. And with new rules taking effect from January 1, they are greater pressure from fund managers to dismantle all-boys clubs. The 64 constituent members of the benchmark Hang Seng Index had only 110 women board members accounting for 14.6 per cent of the total last year, according to data compiled by sustainability data and technology firm... https://www.scmp.com/business/article/3165694/women-boards-hong-kong-firms-under-pressure-improve-boardroom-gender?utm_source=rss_feed https://www.scmp.com/business/article/3165694/women-boards-hong-kong-firms-under-pressure-improve-boardroom-gender?utm_source=rss_feed Fri, 04 Feb 2022 00:30:12 +0000 Let’s get straight to the point: Gucci’s latest advertising campaign screams tone deaf. Designed to promote its Year of the Tiger collection, the campaign depicts “actual tigers” joining a “group of friends for high tea in a retro-style hotel”. What on earth was Gucci thinking? Oh, obviously it wasn’t. Not surprisingly, social media users got their claws out, bombarding Gucci’s social accounts with comments such as “the tiger is not a pet”, “free the tigers” and “don’t exploit animals”. Animal... https://www.scmp.com/magazines/post-magazine/fashion/article/3164106/why-gucci-placing-tigers-glamour-setting-year-tiger?utm_source=rss_feed https://www.scmp.com/magazines/post-magazine/fashion/article/3164106/why-gucci-placing-tigers-glamour-setting-year-tiger?utm_source=rss_feed Thu, 20 Jan 2022 10:41:15 +0000 China’s carbon trading market will see further expansion and an increase in prices in 2022, analysts predicted. However, the scheme, which has just concluded its first compliance period, could still do with some tweaks to navigate clouds on the horizon, they said. The carbon price in the national emissions trading scheme (ETS) could reach 65 yuan (US$10.19) per tonne in 2022, compared to 54.22 yuan per tonne at the end of 2021, according to one forecast. Trading volumes will further increase as... https://www.scmp.com/business/china-business/article/3162702/chinas-emissions-trading-market-likely-see-expansion-rising?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3162702/chinas-emissions-trading-market-likely-see-expansion-rising?utm_source=rss_feed Sun, 09 Jan 2022 05:41:10 +0000 When Keiko Pun graduated in 2017 from City University of Hong Kong, she aspired to use her degree in environmental science and management to create what she called “positive impact.” She landed a job a year later at China Road and Bridge Corporation, one of the world’s largest civil engineering contractors, where she was in charge of reducing the environmental impact of an infrastructure project in Hong Kong’s Tseung Kwan O district. Opportunities soon came knocking, as companies and consulting... https://www.scmp.com/business/banking-finance/article/3162578/which-job-commands-50-cent-salary-premium-2022-key-brush?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3162578/which-job-commands-50-cent-salary-premium-2022-key-brush?utm_source=rss_feed Sat, 08 Jan 2022 03:00:33 +0000 A biotechnology company has suggested using fly maggots to take a bite out of Hong Kong’s massive food waste problem, with plans already going ahead for a facility to use larvae to chew through chicken waste. Organic Tech, a subsidiary of Baguio Green Group, one of the city’s main waste management companies, will set up a plant in Tuen Mun’s EcoPark in June, to convert 10 tonnes of chicken faeces – one-third of the city’s output – into about five tonnes of fertiliser and fish feed by September... https://www.scmp.com/news/hong-kong/health-environment/article/3161957/hong-kong-biotech-firm-wins-government-contract?utm_source=rss_feed https://www.scmp.com/news/hong-kong/health-environment/article/3161957/hong-kong-biotech-firm-wins-government-contract?utm_source=rss_feed Mon, 03 Jan 2022 09:35:48 +0000 China has introduced a new five-year plan to facilitate the development of the country’s raw materials industry, ordering the sector to make green and digital upgrades to balance supply and demand, and support China’s carbon neutrality goals. The plan, issued by the Ministry of Industry and Information Technology (MIIT) and two government agencies on Wednesday, set several targets and laid out the key tasks for the raw materials sector to achieve higher quality, better profitability and... https://www.scmp.com/business/article/3161538/climate-change-policies-china-sets-2025-deadline-steel-cement-aluminium?utm_source=rss_feed https://www.scmp.com/business/article/3161538/climate-change-policies-china-sets-2025-deadline-steel-cement-aluminium?utm_source=rss_feed Thu, 30 Dec 2021 11:15:11 +0000 Finland’s regional government of South Karelia is dangling a series of incentives including relocation help, childcare and a fast track to residency to attract green professionals to settle in the country. Professionals, investors and entrepreneurs involved in sustainable farming, LED lighting, solar panels, wind energy, composting, recycling and waste management are most sought after. Eligible applicants would receive a 90-day relocation package for the entire family, including help with... https://www.scmp.com/business/article/3159761/finland-dangles-childcare-freebies-and-residency-lure-green-professionals?utm_source=rss_feed https://www.scmp.com/business/article/3159761/finland-dangles-childcare-freebies-and-residency-lure-green-professionals?utm_source=rss_feed Wed, 15 Dec 2021 04:03:10 +0000 Financial instruments linked to sustainability will form the next phase in the evolution of green fundraising in Asia, as investors demand companies show their commitment to fighting climate change, according to Swiss bank UBS. Whereas green bonds designed to fund projects that are environmentally friendly are a “test of the waters” for firms in the sustainable finance space, the more ambitious companies will be looking at issuing sustainability-linked products, said Tasos Zavitsanakis,... https://www.scmp.com/business/banking-finance/article/3159386/green-finance-sustainability-linked-bonds-boom-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3159386/green-finance-sustainability-linked-bonds-boom-investors?utm_source=rss_feed Sun, 12 Dec 2021 05:45:59 +0000 Hong Kong is staking a claim as Asia’s green finance hub, as the number and value of bonds related to environment, social and governance (ESG) quadrupled over the past year. As many as 90 ESG bonds were issued this year, raising a combined HK$270 billion (US$34.62 billion), four times what was sold last year, according to Nicolas Aguzin, chief executive of Hong Kong Exchanges and Clearing Limited (HKEX), the operator of the city’s bourse. “HKEX has turned climate risk into opportunities by... https://www.scmp.com/business/banking-finance/article/3158650/hong-kongs-esg-bond-issuance-quadruples-almost-us35?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3158650/hong-kongs-esg-bond-issuance-quadruples-almost-us35?utm_source=rss_feed Mon, 06 Dec 2021 10:05:23 +0000 It is rare for China’s Communist Party to mention the Great Leap Forward, one of the darkest chapters of the Mao Zedong era, but an economic guru did so last month after the country’s push towards carbon neutrality was interrupted by power cuts. More than half of the country’s provinces had rationed electricity in the face of surging coal prices and aggressive energy consumption curbs to meet the central government’s annual emissions reduction targets. Those targets could help China meet goals... https://www.scmp.com/news/china/politics/article/3158394/chinas-carbon-neutral-goal-could-small-steps-prove-smarter?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3158394/chinas-carbon-neutral-goal-could-small-steps-prove-smarter?utm_source=rss_feed Sat, 04 Dec 2021 07:00:25 +0000 Hang Seng Indexes, the compiler of benchmark indices for Hong Kong’s stock market, has launched two new sustainability indices to tap into growing interest in sustainable investment. The company Monday announced the addition of the HSI ESG Screened Index and the HSI Low Carbon Index, expanding its family of indices to 16. The additions will be effective as of December 6. Both new indices will track the 60-stock Hang Seng Index, albeit with different weightings to reflect the constituents’ varied... https://www.scmp.com/business/markets/article/3157793/hang-seng-index-compiler-adds-another-two-stock-indices-meet?utm_source=rss_feed https://www.scmp.com/business/markets/article/3157793/hang-seng-index-compiler-adds-another-two-stock-indices-meet?utm_source=rss_feed Mon, 29 Nov 2021 13:30:20 +0000 https://www.scmp.com/news/article/3146824/should-you-have-child-if-you-worry-about-environment?utm_source=rss_feed https://www.scmp.com/news/article/3146824/should-you-have-child-if-you-worry-about-environment?utm_source=rss_feed Sun, 29 Aug 2021 23:49:23 +0000 Planet Palm by Jocelyn C. Zuckerman, pub. The New Press The first time my mind turned to the problem of palm oil was during the summer of 2015, when international headlines described a greasy, black cloud improbably covering much of Southeast Asia. Billowing, acrid smoke from Indonesian wildfires cloaked the region, choking cities and people from Sumatra to Singapore, up the Malaysian peninsula as far north as southern Thailand. The infernos swallowed more than 2.6 million hectares of jungle and... https://www.scmp.com/magazines/post-magazine/books/article/3138856/palm-oil-poster-child-globalisations-wrongs-and-its?utm_source=rss_feed https://www.scmp.com/magazines/post-magazine/books/article/3138856/palm-oil-poster-child-globalisations-wrongs-and-its?utm_source=rss_feed Mon, 28 Jun 2021 06:45:16 +0000 Recent tensions between the US and China escalated due to a trade war before being complicated by the coronavirus pandemic and compounded further by a global economic recession, revealing a sharper and deeper rivalry. The tit-for-tat actions over the South China Sea, closures of consulates, banning of WeChat and the order to sell TikTok have fuelled concerns about a “new cold war”. US President Joe Biden has not minced words when it comes to competition and cooperation with China. Biden has said... https://www.scmp.com/week-asia/opinion/article/3137951/how-us-china-competition-addressing-climate-change-could-benefit?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3137951/how-us-china-competition-addressing-climate-change-could-benefit?utm_source=rss_feed Sun, 20 Jun 2021 03:30:00 +0000 International asset managers have welcomed a proposal by China’s regulator to enhance listed firms’ environment, social and governance disclosures, but have called for more detailed guidance on ESG reporting. They said that better ESG disclosure would facilitate allocation of more funds to mainland-listed shares as sustainable investing continues to gain traction among investors. “We believe companies would benefit from more detailed guidance [on ESG disclosures], which could refer to recognised... https://www.scmp.com/business/banking-finance/article/3137959/chinas-proposed-esg-disclosure-rules-could-go-further-meet?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3137959/chinas-proposed-esg-disclosure-rules-could-go-further-meet?utm_source=rss_feed Sun, 20 Jun 2021 01:30:00 +0000 China’s natural gas distributors are expected to step up inspection of industry-wide facilities following a deadly explosion this week, pushing safety issues, operational risks andcorporate governance to the forefront of the state agenda. At least 25 people were killed and more than 100 injured when a gas pipe exploded in a market in Shiyan in central Hubei province on Sunday, prompting President Xi Jinping to order officials to “stay vigilant and politically sensitive” in preventing major... https://www.scmp.com/business/china-business/article/3137405/corporate-esg-deadly-china-gas-explosion-pushes-industrys?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3137405/corporate-esg-deadly-china-gas-explosion-pushes-industrys?utm_source=rss_feed Wed, 16 Jun 2021 04:00:21 +0000 Kunming, capital of China’s southwestern Yunnan Province, is famed as the “City of Eternal Spring” because of its temperate climate which allows plants and flowers to bloom all year round. And the Dianchi Lake, the biggest freshwater lake in the province and the sixth-largest in the country, is a top tourist destination billed as “a pearl on the plateau”, referring to the Yunnan-Guizhou Plateau, home to a vast diversity of flora and fauna. More than half of China’s plant species and protected... https://www.scmp.com/week-asia/opinion/article/3133553/ahead-cop15-summit-china-cracks-whip-environmental-corruption?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3133553/ahead-cop15-summit-china-cracks-whip-environmental-corruption?utm_source=rss_feed Sat, 15 May 2021 01:30:20 +0000 Ever-creeping climate change is spelling the end of the lawn as we know it. Environmentalists everywhere see the neat and weed-free grass lawn as an ecological disaster in an age of ever-increasing heat, shrinking water resources and increasingly scarce wild habitat. Gavin Coates, a senior lecturer in landscape architecture at the University of Hong Kong, says lawns are “massively inefficient” in many of the world’s geographical regions.  But not in Hong Kong. The city’s relatively few grassy... https://www.scmp.com/lifestyle/arts-culture/article/3130797/lawns-are-thirsty-luxury-many-amid-climate-change-yet-hong?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3130797/lawns-are-thirsty-luxury-many-amid-climate-change-yet-hong?utm_source=rss_feed Mon, 26 Apr 2021 06:45:16 +0000 April 22 was Earth Day. It originated in 1970 to raise awareness of the need to protect the environment. As the impact from climate change has become more obvious – from extreme temperature swings to more frequent and powerful typhoons – the calls for action have grown louder. In particular, reducing greenhouse gas emissions to slow the impact of global warming has become a top priority. Two events in the past year have added momentum to this effort.  First, President Xi Jinping announced last... https://www.scmp.com/comment/opinion/article/3130670/climate-crisis-race-cut-carbon-emissions-could-be-gold-mine?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3130670/climate-crisis-race-cut-carbon-emissions-could-be-gold-mine?utm_source=rss_feed Sat, 24 Apr 2021 01:15:09 +0000 Billionaire entrepreneur Elon Musk on Thursday offered inventors $100 million in prize money to develop ways to fight global warming by removing carbon dioxide from the atmosphere or ocean. “Right now we’ve only got one planet,” said Musk, CEO of electric carmaker Tesla. “Even a 0.1 per cent chance of disaster – why run that risk? That’s crazy!” In January, Musk announced his intention to offer US$100 million in prizes and set out the contest rules on Thursday, Earth Day. What organisers called... https://www.scmp.com/business/commodities/article/3130814/teslas-chief-executive-musk-offers-us100-million-prize-money?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3130814/teslas-chief-executive-musk-offers-us100-million-prize-money?utm_source=rss_feed Fri, 23 Apr 2021 09:04:20 +0000 Ant Group, operator of popular Chinese mobile payment service Alipay, plans to slash its direct carbon emissions by nearly a third by 2025 as part of its journey towards carbon neutrality at the end of this decade.  The world’s largest financial technology company, controlled by billionaire Jack Ma, will work with data centre partner Alibaba Cloud – a subsidiary of e-commerce giant Alibaba Group Holding, which owns the South China Morning Post – to boost the share of renewable energy on its... https://www.scmp.com/business/companies/article/3130487/financial-technology-giant-ant-group-unveils-midterm-carbon?utm_source=rss_feed https://www.scmp.com/business/companies/article/3130487/financial-technology-giant-ant-group-unveils-midterm-carbon?utm_source=rss_feed Thu, 22 Apr 2021 02:00:10 +0000 Chinese environment inspectors have vowed to “get tough” on local officials who do not take action on pollution, revealing details of cases uncovered in their latest round of checks to state media. The Ministry of Ecology and Environment said eight local governments had failed to adequately deal with pollution problems in the provinces of Shanxi, Liaoning, Anhui, Jiangxi, Henan, Hunan and Yunnan, and in the Guangxi Zhuang autonomous region. It made the assessment on Friday, after it sent... https://www.scmp.com/news/china/article/3130498/chinese-environment-inspectors-vow-get-tough-local-officials-over?utm_source=rss_feed https://www.scmp.com/news/china/article/3130498/chinese-environment-inspectors-vow-get-tough-local-officials-over?utm_source=rss_feed Wed, 21 Apr 2021 13:21:51 +0000 Hong Kong’s wealthiest man, Li Ka-shing, once the majority shareholder of a Canadian oil company, has been steering his investments towards climate change and sustainability. His particular focus of late has been the development of environmentally friendly hydrogen-electric engines. Through its private investment arm, Li’s Horizons Ventures led a US$23 million round of Series B financing in Houston-based Syzygy Plasmonics, a start-up that has developed a hydrogen fuel-cell technology that... https://www.scmp.com/business/banking-finance/article/3128509/what-made-superman-li-ka-shing-former-owner-oil-firm?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3128509/what-made-superman-li-ka-shing-former-owner-oil-firm?utm_source=rss_feed Tue, 06 Apr 2021 12:05:51 +0000