TOP 10 Global Sustainability News | Nov 5 – Nov 12, 2020

2020-11-16GoldenBeeGoldenBee0

Spotlight

President Xi: Good development is sustainable

On November 10, Chinese President Xi Jinping attended the 20th meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO) via video link and made an important speech themed “Carrying Forward the Shanghai Spirit and Deepening Solidarity and Collaboration for a Stronger Community with a Shared Future”.

Xi emphasized that it is necessary to deepen practical cooperation and build a community of development for all. True development is development for all and good development is sustainable. We need to be guided by the vision of innovative, coordinated, green, open and shared development and open up more opportunities for practical cooperation to facilitate economic recovery and betterment of people's lives. Meanwhile he advocated that people “need to step up anti-COVID-19 cooperation and build a community of health”, “need to safeguard security and stability and build a community of security”, “need to deepen practical cooperation and build a community of development”and “need to nourish people-to-people amity and build a community of cultural exchanges”. (Qiushi)

Premier Li: ASEAN becomes China's largest trading partner

Chinese Premier Li Keqiang attended the leaders' meetings on the 23th China-ASEAN (10+1) leaders' video meeting and said that China and ASEAN have worked together to strengthen cooperation and share experiences in the fight against COVID-19, taking the lead in opening up "fast lanes" and "green channels" to promote economic growth. In the first three quarters of the year 2020, China-ASEAN trade bucked up, with China's investment in ASEAN increasing by more than 70% year on year, and ASEAN has become China's largest trading partner.

Li also suggested China and ASEAN should first work together to overcome the pandemic and enhance cooperation on public health. Second, focus on economic and trade cooperation to promote regional economic recovery. Third, highlight digital economy and foster more cooperations. Fourth, promote sustainable development and enhance anti-risk capability. (www.gov.cn)

No. 10 HONG KONG: New alliance for green commercial banks launched

The Hong Kong Monetary Authority (HKMA) joined the Alliance for Green Commercial Banks by signing a new agreement with the International Finance Corporation (IFC) on Novermber 9.

The initiative aims to develop green commercial banks and encourage more green finance to address climate change. It also aims to encourage commercial banks in Asia to "adopt strategies and targets to become greener", the statement said. The HKMA and IFC intent to bring together financial institutions, banking industry associations, research institutions, and innovative technology providers across Asia to develop, build, and boost the capacity for green finance and promote climate investments. (China Securities Journal)

No.09 CIIE creates a "green" whirlwind

The 3rd China International Import Expo (CIIE) was held in Shanghai from November 5 to 10 in National Exhibition and Convention Center. "Green" and "sustainable" became the high-frequency words of CIIE, highlighting the implementation of the concept of sustainability in exhibition, conference settings and ancillary activities.

- The 3^rd CIIE paid special attention to the "green exhibition", realizing 100% green booths and minimizing negative impact on the environment. It also for the first time set up more than 8,000 squaremeter energy-saving and environmental protection section, bringing together more than 20 well-known energy-saving and environmental protection enterprises such as Novozymes, Grundfos, Rockwool, Rhine Group and RWE.

- At the policy & technology exchange seminar on energy conservation and environmental protection, China Energy Conservation and Environmental Protection Group and JGC Corporation signed the Strategic Cooperation Framework and other 4 international cooperation projects related to energy conservation, environmental protection and green construction.

- The first New Infrastructure and Green Investment Conference launched the "Zero Carbon China" initiative, focusing on fields like zero carbon energy, zero carbon construction and zero carbon transportation, to popularize the concept of zero carbon to the society. (Youth.cn)

No.08 BHP partners with China Baowu to address challenges of climate change

BHP signed a memorandum of understanding (MOU) with world leading steel producer, China Baowu on Novermber 6, with the intention to invest up to US$35 million and share technical knowledge to help address the challenge of reducing greenhouse gas emissions facing the global steel industry.

The five-year partnership will focus on the development of low carbon technologies and pathways capable of emission intensity reduction in integrated steelmaking. Under the MOU, the deployment of carbon capture, utilisation and storage in the steel sector will also be investigated at one of China Baowu’s production bases. (CINN.cn）

No.07 Iberdrola launches €75 billion investment plan to 2025 as a firm commitment to economic recovery

Iberdrola launched a historic investment plan worth €75 billion euros for the period 2020-2025 on Novermber 5, with the aim of anticipating and taking advantage of the opportunities created by the energy revolution facing the world's major economies.

Looking ahead to 2030, in line with the climate objectives in its main markets, Iberdrola has a ten-year horizon whereby its installed renewable capacity will increase to 95 GW. This will see its onshore and solar wind power growing by 2.5 times and its offshore wind power by 4.5 times. More than half of the organic growth (51%) will go to renewables and 40% to networks. (International Energy.com)

No. 06 Climate Action Superheroes empower children to protect the planet

The Climate Action Superheroes are the face of a new campaign, launched on UN social media platforms on November 8, and aimed at mobilizing children under 12 to recycle and to save water and energy.

Eight new animated characters on a mission to protect the planet, have been pressed into service by the UN to empower children worldwide and boost the drive towards sustainability by 2030. They include the Energy Expert, Recycle Ranger, Green Guide and Water Wizard, who will engage children, and parents, in fun missions on topics such as reducing single-use plastic, saving energy and conserving water. (UN News)

No. 05 Hangzhou will realize green power supply for Asian Games

On November 9, the Power Supply and Guarantee Sustainability Management System Certification Ceremony of Asian Games was held at the 19th Asian Games Hangzhou 2022 Organising Committee. State Grid Corporation of China was awarded the first sustainability management system certification among central SOEs. This means that all venues of the Hangzhou Asian Games will access to green electricity, the first time in the history of the Asian Games. The State Grid will use various methods, such as, ±800 kV UHV DC transmission, energy routing, and market-oriented carbon trading, to realize the green power supply for all venues of the Hangzhou Asian Games.

With this certification, the State Grid will achieve energy conservation and emission reduction. It is expected that during the 2022 Hangzhou Asian Games, more than 50 GWh of green power wil be supplied for 58 Asian Games venues and Asian Games villages, which is equivalent to reducing consumption of standard coal by 6,100 tons and reducing carbon dioxide emissions by 15,200 tons. (Official website of the 19th Asian Games Hangzhou 2022 Organising Committee)

No. 04 China’s market regulator issues draft Anti-monopoly Guide for the Platform Economy Sector (Draft) to solicit public opinions

On November 10, China's State Administration for Market Regulation (SAMR) issued a draft of the Anti-monopoly Guidelines for the Platform Economy Sector, which is open for public comments until November 30, 2020.

Article 3 of the Draft Guidelines defines “internet platform” as “a form of business organization that enables mutually dependent multilateral entities to interact through network information technology and under the rules and matching provided by a specific carrier to jointly create value”. The monopoly agreements in the internet platform economy mainly refer to written or oral agreements and decisions, or other coordinated actions by platform operators and operators on the platform to exclude or restrict competition.

The guidelines aims to prevent and stop monopolistic behavior in the platform economy and guide operators to operate in compliance with laws and regulations, and promote the sustainable and healthy development of the online economy. (Beijing News)

No. 03 NTPC says one-fourth of its capacity will be based on renewables by 2030

India's state-owned power generator NTPC Ltd announced around a fourth of its power generation capacity will be based on renewable energy sources by 2030. It sees total capacity growing from the current 62 Gigawatt (GW) to 130 GW by 2032.

"In line with the global trend towards renewables, which is a cleaner source of energy, NTPC plans to achieve 32,000 Megawatt (MW) of capacity through renewables or 25 percent of its overall power portfolio at the beginning of the next decade," the company said in a statement marking 45 years of operations.
At present, the company has 2,404 MW of renewable energy projects under implementation, of which 237 MW comes from floating solar projects located in reservoirs at NTPC's existing stations. NTPC's Ramagundam floating solar project of 100 Mw capacity is the largest in the country. (ET EnergyWorld)

No.02 Biden expected to unveil executive orders on Day 1

On November 7, the Associated Press, CNN and BBC called the 2020 presidential race for Democratic candidate Joe Biden, carrying him over the 270 electoral vote threshold, to become the 46th President of the United States of America. After that, Biden changed his Twitter profile from Senator to 'President-Elect' on Business Standard.

On November 8, Biden launched presidential transition website, BuildBackBetter.com, to ensure the transfer of power between the current administration and the Biden-Harris administration. The website statement announced that a Biden-Harris administration, propelled by the foundation laid by the transition, will lead a just and equitable recovery that rebuilds a strong, inclusive middle class and builds an economy for the future. Tackling COVID-19 pandemic, economic recovery, racial equality and climate change are the four top priorities for the Biden administration. (BJNews)

No.01 UK Government issues first ever Sovereign Green Bond

On November 9, UK’s Chancellor of the Exchequer Rishi Sunak announced the UK Government will be issuing the UK’s first ever Sovereign Green Bond, becoming the first country in the world to make TCFD-aligned disclosures mandatory.

To help the UK meet its 2050 net zero target and other environmental objectives, the government will issue its first Sovereign Green Bond in 2021 subject to market conditions – and intends to follow up with a series of further issuances to meet growing investor demand for these instruments. These bonds will help finance projects that will tackle climate change, finance much-needed infrastructure investment and create green jobs across the country.

The UK will also implement a green taxonomy – a common framework for determining which activities can be defined as environmentally sustainable – which will improve understanding of the impact of firms’ activities and investments on the environment and support our transition to a sustainable economy. (Climate Action)

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