Domestic ESG News

  • China: Taobao, Weibo fined for illegal child content

The Cyberspace Administration of China (CAC) has ordered some of the country’s biggest online platforms to remove seven types of inappropriate child-related content such as child porn and cyberbullying.


  • Floods in central China: Alibaba, Tencent, ByteDance and Meituan rush to support relief efforts with cash and services

China’s largest tech companies were rushing to announce donations amounting to almost 1 billion yuan (US$154 million) to flood relief efforts in central Henan province where heavy rains have killed at least 12 in the capital city of Zhengzhou and displaced over 100,000 throughout the province. The rush of donations came as China’s tech companies were under scrutiny for putting profit ahead of social responsibility.


  • The State-owned Assets Supervision and Administration Commission of the State Council has included ESG in the key tasks of promoting enterprises to fulfil their social responsibilities

The recent “ESG China Forum 2021 Summer Summit” announced that the SASAC has included ESG in the key work of promoting enterprises to fulfil their social responsibilities. State-owned central enterprises and local enterprises should play a leading role in the construction of the ESG system. The first “ESG Index of China’s Top 100 Technology Companies” was announced.


Global ESG News

  • Japan boosts renewable energy target for 2030 energy mix

Japan will raise its target for renewable energy in the country’s electricity mix for 2030 as it pushes to cut emissions to meet commitments under international agreements on climate change.


  • IBM Announces 21 Environmental Sustainability Goals

IBM has announced an updated set of 21 environmental sustainability goals. The pledges support or complement the company’s current commitment to reach net-zero GHG emissions by 2030.


  • ESG assets on track to exceed $50trn by 2025

Amid a period of acceleration for green bonds in the corporate and government market, ESG assets surpassed $35trn in 2020 and are set to hit $50trn by 2025 even with half the pace of the past five years.


  • 168 investors urge 1300+ firms to disclose environmental data

A record number of investors requesting corporate environmental disclosure from 1300+ firms, including Netflix, Alibaba Group, and Roche Holding AG. The campaign demonstrates that companies are more than twice as likely to disclose their environmental impact when directly engaged by investors.


  • FCA sets out guiding principles for ESG, sustainable investment funds

FCA highlights that fund’s ESG/sustainability focus should be reflected consistently in its design, delivery and disclosure. Moreover, it should be reviewed consistently in its name, stated objectives, its documented investment policy and strategy, and its holdings.


  • Europe’s Biggest Banks Warn of Major Flaw in Key ESG Metrics

EU planned Green Asset ratio, revealing how much a bank lends to climate-friendly companies and projects. This measurement provides comparable quantitative disclosures on climate-change-related risks. However, it is also seen that the metric could offer a misleading snapshot, as it is difficult getting data from corporate clients that aren’t subject to reporting requirements because they’re based outside Europe.


  • A closer look at Norway’s ESG reporting and due diligence requirements

EU and Norway are tightening up ESG reporting requirements by introducing both the new Sustainable Finance Act and the Transparency Act as well as other ESG legislative initiatives in Norway. While ESG reporting was voluntary, there appears to be a shift to formal reporting. There is an increased use of regulations by authorities and expectations by civil societies.


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