ESG News | Aug

Selected Monthly ESG News

Carbon Finance

1.The Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Ecology and Environment issued the Implementation Plan for Carbon Peaking in the Industrial Sector

On August 1st, the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Ecology and Environment issued the Implementation Plan for Carbon Peaking in the Industrial Sector. The plan proposes that by 2025, the energy consumption of industrial units above the designated size needs to decrease by 13.5% compared with 2020, and the decline in carbon dioxide emissions per unit of industrial added value needs to be greater than the decline in the whole society.

2. Alibaba Group and 19 industry-leading brands such as Liangpin Shop, Mengniu and Starbucks jointly launched the Decarbonization-friendly Actions

On August 12th, Alibaba Group and 19 industry-leading brands such as Liangpin Shop, Mengniu and Starbucks jointly launched the Decarbonization-friendly Actions to contribute to the social carbon reduction action through digital technology capabilities and diversified consumption scenarios of major platforms. In addition, Alibaba also led the drafting of the A Playbook of Decarbonization-friendly Actions to help more enterprises refer to the carbon reduction process and drive more industries to join the carbon reduction action.

3.The 2022 China International Carbon Trading Conference - Science and Technology To Help "Double Carbon" Cloud Forum was successfully held

On August 24th, the 2022 China International Carbon Trading Conference - Science and Technology To Help "Dual Carbon" Cloud Forum, hosted by the Shanghai Environment and Energy Exchange and the Carbon Neutral Action Alliance, was successfully held. The cloud forum held a low-carbon product release ceremony. It released the first domestic road transportation industry fuel vehicle "carbon neutrality" overall solution - "double carbon green car insurance", through big data and other scientific and technological means to solve the problem of over-emission of operating trucks so that operating trucks in the platform to achieve "carbon neutrality" and access to insurance services.

Sustainable Investing

1.The Securities and Futures Commission of Hong Kong issued the Green and Sustainable Finance

On August 2nd, the Securities and Futures Commission of Hong Kong issued the Green and Sustainable Finance, which focuses on three priorities. First, enhance corporate disclosure. Second, monitor the implementation of existing measures regarding environmental, social and governance (ESG) funds and requirements for fund managers, and optimise the relevant measures. Third, explore an appropriate carbon market regulatory framework.

2.China will take the lead in formulating the world's first international standard framework system for critical technologies of new power systems

On August 20th, the International Electrotechnical Commission proposed at the International Standards Conference 2022 that China will take the lead in formulating the world's first international standard framework system for critical technologies of new power systems. The new power system mainly takes new energy sources such as wind, light, nuclear, and biomass energy as the main elements to support the power system of the whole society. According to the National Energy Administration, as of July, China's installed power generation capacity was about 2.46 billion kilowatts, an increase of 8.0% year-on-year. Among them, the installed capacity of wind power was about 340 million kilowatts, an increase of 17.2% year-on-year.

Green Finance

1.The China Meteorological Administration released the Blue Book on Climate Change of China (2022)

On August 3rd, the China Meteorological Administration released the Blue Book on Climate Change of China (2022), providing the latest monitoring information on climate change in China, Asia and the world. The Blue Book shows that the global warming trend is continuing. Many climate change indicators, such as China's surface average temperature, coastal sea level, and permafrost activity layer thickness in 2021, will break the observation record. China's warming rate is higher than the global average over the same period and is a sensitive area for global climate change.

2.Beijing's first green life carbon inclusive activity platform, the "Green Life Season" Mini Program, was officially launched

On August 10th, Beijing's first green life carbon inclusive activity platform, the "Green Life Season" Mini Program, was officially launched. The Mini Program has 8 sections including such as Green Life, Green Carbon Credit, and Green Travel, and the citizens' practice of green behaviour will be quantified through digital means, recorded to form a personal carbon ledger, obtained green credits, and exchanged for a variety of rewards.

Impact Investing

1.On August 9th, Deloitte China released its FY2022 Social Impact Report

On August 9th, Deloitte China released its FY2022 Social Impact Report. In the report, Deloitte China announced that in fiscal 2022, the total amount of social impact investment was nearly 35 million yuan. The full length of volunteer and pro bono professional services exceeded 56,000 hours, an increase of 59% and 86.7%, respectively, over fiscal 2021, and a positive impact on more than 1.5 million beneficiaries. To build a new development pattern, Deloitte China will invest HK$1 billion over the next three years to focus on the future growth of Hong Kong's economy.

Article classification: ESG News