ESG News| November

Selected Monthly ESG News

Carbon Finance

Sinopec Secures German Carbon Trading Entry Ticket

On November 15, Sinopec's Carbon Industry Technology Co., Ltd. (CarbonTech) UER project received official approval from the German Federal Environment Agency, marking Sinopec's first acquisition of a German carbon trading entry ticket.

Initial Emission Reduction Achievements Emerge in China's Steel Enterprises

On November 17, from the press conference of the "Steel Industry Social Responsibility Blue Book (2023)" hosted by the China Iron and Steel Industry Association and the Responsibility Cloud Research Institute, it was revealed that as of now, 99 steel enterprises in China have completed ultra-low emission transformations and evaluation monitoring. Among them, 73 steel enterprises have completed comprehensive ultra-low emission transformations involving approximately 362 million tons of crude steel production capacity, while 26 steel enterprises have publicly completed partial-process ultra-low emission transformations, involving approximately 108 million tons of crude steel production capacity.

Sustainable Investments

EU Approves Substantial Funding in Climate and Related Fields

On November 14, the European Commission announced its approval to allocate over 396 million euros for climate and environmental sustainability projects in areas including nature and biodiversity, circular economy and quality of life, climate change mitigation and adaptation, and clean energy transition.

European Parliament and Council Reach Agreement on Ecological Legislation

Legislators of the European Parliament and Council declared they have reached an interim agreement on new legislation aimed at restoring and protecting natural habitats and ecosystems. This includes measures for EU member states to restore at least 20% of EU land and sea by 2030 and authorize objectives to restore all ecosystems requiring recovery by 2050.

Green Finance

Cainiao Teams Up with Universities to Launch Carbon Asset Management System

Cainiao, in collaboration with nearly a hundred universities nationwide, has officially launched the "Campus Carbon Asset Management System." It has been successively implemented in universities such as Shanghai Jiao Tong University, Sichuan University, Tianjin University, and Hangzhou Normal University. The digital management screen for green logistics and dedicated areas for green activities are gradually being introduced within these hundred universities.