ESG News | Feb

Author:CASVI

Selected Monthly ESG News

Carbon Finance

1. Guidance on Promoting the High-Quality Development of the Steel Industry Issused

On February 7, the Development and Reform Commission of the Ministry of Industry and Information Technology and the Ministry of Ecology and Environment jointly issued the Guidance on Promoting the High-Quality Development of the Steel Industry, which clearlyproposed 12 major tasks, including strickly prohibiting new steel production capacity, deeply promoting green and low-carbon, and improving resource security capacity, to ensure the the steel industry reaches the carbon peak by 2030.

2. Guidance on the Format for the Legal Disclosure of Corporate Environmental Information Came Into Effect　

On February 8, the Ministry of Ecology and Environment (MOE) previously issued the Guidelines on the Format for the Legal Disclosure of Corporate Environmental Information came into effect. The Guidelines propose that key greenhouse gas emitters included in the management of carbon emission trading market allowances should specifically disclose the actual annual carbon emissions and the actual emissions of the previous year.

3. Coca-Cola Company Announced A New Reusable Packaging Goal

On February 14, The Coca-Cola Company announced a new reusable packaging goal that aims to have at least 25 percent of its global brand portfolio of beverages sold in re-canable or recyclable glass and plastic bottles by 2030. The company said the use of reusable packaging creates value for consumers and customers, and helps the company reduce its carbon footprint.

4. HSBC announced new financing reduction targets

On February 22, HSBC announced new financing reduction targets for the carbon-intensive oil and gas and power and utilities sectors-a 34% cut in financed emissions from oil and gas and a 75% cut in power and utilities by 2030, with the aim of being zero by 2050.

5. The National Bureau of Statistics Released the "Statistical Bulletin of the National Economic and Social Development of the People's Republic of China for 2021"

On February 28, the National Bureau of Statistics released the "Statistical Bulletin of the National Economic and Social Development of the People's Republic of China for 2021". The data showed that clean energy consumption such as natural gas, hydropower, nuclear power, wind power and solar power accounted for 25.5% of total energy consumption, up 1.2 percentage points from last year, and national carbon dioxide emissions of 10,000 yuan of gross domestic product fell 3.8% from last year.

Green Finance

1. Bank of China Johannesburg Branch Issused a US$300 Million Green Bond in the Region

On February 9, Bank of China Johannesburg Branch successfully completed the pricing of a US$300 million green bond issue in the region. The bond issue, with a maturity of 3 years and a coupon rate of 1.875%, is the first green bond issued by a Chinese-funded financial institution in Africa. With the low sovereign rating of South Africa, this bond issuance reflects the high confidence of international institutions in the creditworthiness of Bank of China.

2. The Hong Kong SAR Government Announced it will Issuse Green Retail Bonds

On February 15, the Hong Kong SAR Government held a press conference to announce that it will issue green retail bonds for the first time, with a target issue size of $6 billion (HKD). The bonds will have a maturity of three years and will be issued in lots of $10,000. Bondholders will be paid local inflation-linked interest at a rate of not less than 2% every six months.

3. The First National Green Enterprise Guarantee Insurance Loan Project was Signed in Wuhan

On February 17, the first national green enterprise guarantee insurance loan project was signed in Jianghan District, Wuhan City, supporting Three Gorges Electric Power Co., Ltd. to set up the "Yangtze River Double CarbonAction Partnership Platform" to help financial institutions and Wuhan Eco-environmental Investment and Development Group to carry out green financial cooperation.

4. The Intergovernmental Panel on Climate Change Released Climate Change 2022

On February 28, the Intergovernmental Panel on Climate Change released Climate Change 2022: Impacts, Adaptation and Vulnerability-Report of Working Group II of the Sixth Assessment Report of the Intergovernmental Panel on Climate Change. The report states that climate-resilient development will not be possible in some regions if global warming exceeds 2°C.

Sustainable Investment

1. EIB Announced its Recent Investment Actions for Sustainable Development

On February 3, the European Investment Bank (EIB) Group announced that its Board of Directors has approved €3.2 billion in new financing, €1.3 billion for sustainable transport, renewable energy and water, €1.2 billion for education, health, housing and urban renewal, and €630 million for private sector investment and post-epidemic economic recovery.

Article classification: ESG News