Domestic ESG News
- Hong Kong will see more super typhoons and extreme weather if climate change isn’t brought under controls
A new report from the United Nations warned the world could experience intense changes if global warming isn’t properly addressed. Hong Kong will suffer typhoons more destructive than Mangkhut, droughts that wreak havoc on its supply of drinking water, and intense heatwaves.
- Standard Chartered to open paperless ‘green branch’ in Hong Kong offering sustainable finance products
Standard Chartered plans to open a “green branch” this year in the latest move by a local lender to promote banking services that can help cut pollution. The branch will be fully paperless and will offer a wide range of bank products with a green concept, including deposits, loans and bonds that are tailor-made for environmentally friendly projects.
Reference: https://finance.yahoo.com/news/standard-chartered-open-paperless-green-093000714.html
- Hong Kong airport cuts energy consumption with new air-conditioning control system
Hong Kong’s airport has become the first in the world to adjust its air conditioning based on real-time weather data, cutting down its yearly energy consumption by the amount needed to power 1,200 households over the same period. Machine learning and real-time data on passenger flows and outdoor temperatures will allow for smarter, faster adjustments.
Global ESG News
- Oil and gas industry offsetting could use land half the size of the US
Oxfarm states that many oil and gas companies are using offsets as a way of greenwashing their operations, and offsetting their carbon emission could use a land area half the size of the US – a nonsensical solution to climate change.
Reference: https://esgclarity.com/oil-and-gas-industry-offsetting-could-use-land-half-the-size-of-us/
- UN (IPCC) Climate Change 2021 report
The report is a ‘code red for humanity’, concluding that unless there are immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5°C will be beyond reach. It explains from a physical science perspective giving guidelines for future policymakers.
Reference: https://www.ipcc.ch/report/ar6/wg1/downloads/report/IPCC_AR6_WGI_Full_Report.pdf
- IFLA ESG Europe Report 2021 Launched
IFLR has partnered with leading experts to show how Europe is strengthening sustainability initiatives: Supporting sustainable investment with the EU Taxonomy, important steps to act in relation to ESG reporting, climate-related financial risks, green investments, etc.
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