ESG News| August

  13

Selected Monthly ESG News


Carbon Finance


European Commission Approves Germany's €6.5 Billion Plan to Mitigate "Carbon Leakage" Risk


On August 10th, the European Commission approved Germany's 6.5 billion euro plan to provide partial compensation to energy-intensive industries. The purpose of this plan is to prevent the risk of "carbon leakage" caused by rising fuel prices in Germany. Carbon leakage refers to the situation where German companies relocate their production to countries with more lenient carbon emission regulations, resulting in an increase in global greenhouse gas emissions.


The European Union's statistical office indicates that "economic growth" and "energy efficiency and carbon reduction" can go hand in hand


On August 16th, the European Union's statistical office indicated that in the first quarter of 2023 (January to March), the economy grew slightly by 1.2%. In the past, economic growth was often accompanied by an increase in greenhouse gas emissions, such as carbon dioxide. However, in this case, greenhouse gas emissions decreased by 3% instead. Among the 27 member states of the European Union, 21 countries reduced their greenhouse gas emissions, and 15 countries experienced economic growth, proving that "economic growth" and "energy efficiency and carbon reduction" are not necessarily contradictory.


Sustainable Investments


Goldman Sachs invests in the renewable natural gas platform Synthica


On August 8th, energy transition platform Synthica Energy announced the completion of an equity investment from Goldman Sachs Asset Management Infrastructure, establishing a partnership with investors aimed at expanding its renewable natural gas (RNG) production operations across various centers in the United States.Synthica's mission is to provide essential services for the management of challenging organic waste streams, diverting these materials away from landfills and other unsustainable disposal sites, ultimately reducing carbon and methane emissions.


Schroder Investment Management has launched three guidelines focused on sustainable development as part of their investment solutions


On August 23rd, Schroder Investment Management launched three guidelines focused on sustainable development, aiming to assist financial advisors in considering the impact of key ESG (Environmental, Social, and Governance) themes. The company's latest dynamic survey, released in May 2023, revealed a continued decline in the number of financial advisors who feel confident discussing sustainable investment topics with their clients. Therefore, these guidelines provide information on areas such as diversity and inclusion (D&I), gender pay gap, and achieving carbon neutrality.


Green Finance


The State Council has issued a document supporting the participation of foreign enterprises in green certificate and green energy trading


On August 14th, the State Council of China released an opinion on further optimizing the investment environment for foreign businesses and increasing efforts to attract foreign investment. The document emphasizes the improvement of mechanisms for promoting the construction of foreign-funded projects. It aims to establish specialized task forces for major and key foreign-funded projects, strengthen resource support, policy assistance, and service guarantees, and promote the early signing, implementation, commencement, and production of foreign-funded projects. The opinion also includes the introduction of policies and measures to promote green electricity consumption, supporting greater participation of foreign-invested enterprises in green certificate trading and cross-provincial/cross-regional green energy transactions.


The first standardized green leasing business in China lands in Tianjin


On August 19th, the first standardized green leasing business in China was launched in Tianjin. The project is operated by Huaneng Tiancheng Leasing through direct leasing. The leased items include wind turbines, tower cylinders, and related electrical equipment, which will be used in a wind power project in Gansu Province. This initiative is expected to generate significant environmental benefits, estimated to save approximately 1.538 million tons of standard coal and reduce carbon dioxide emissions by 3.975 million tons.


Article classification: ESG News

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