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SEBI to issue ESG guidelines soon - Market regulator SEBI is in active discussions with stakeholders to bring in greater granularity in disclosures by listed companies in environmental, social and corporate governance (ESG) space and would soon issue relevant guidelines, said SEBI Chairman Ajay Tyagi.
“The proposed guidelines are aimed at achieving much higher level of transparency and accountability from listed entities in the ESG arena,” Tyagi said in his speech in SEBI-NISM conference. SEBI is holding discussions with a view to meeting the increasing investor demand for ESG related information. Tyagi noted that certain unique trends have emerged in the wake of the pandemic. Initially, at the beginning of the pandemic, there was a concern that climate change and environmental issues may be relegated to the background as the fundraising in itself was perceived as a challenge in these difficult times.
Cryoport launches ESG initiative - A global player in temperature-controlled supply chain solutions for the life sciences industry, Cryoport has announced the launch of its Environmental, Social & Governance (ESG) initiative through which the company is formalizing its long-standing commitment to taking positive action on global environmental, social, health and corporate stewardship issues.
Jerrell Shelton, CEO of Cryoport, stated, “We have always been a ‘green company’, but as we entered 2021, we were aware of the expectations that our stakeholders have of us as a global company of significant size to disclose more about the work we do in the framework of a more formal ESG program and to expand our initiatives. “The launch of our ESG program marks our first disclosure of ESG information based on the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-related Financial Disclosures (TCFD), which are leading global sustainability frameworks. Environmental. Invesco launches India ESG equity fund - Invesco Mutual Fund has launched a new fund offer (NFO) ‘India ESG Equity Fund’ from today.
The fund closes on March 12, 2021. It is an open-ended equity scheme that aims to generate capital appreciation by investing 80-100 per cent of the net assets in companies that are in compliance with the Environmental, Social and Governance norms. Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund, said “it is important to analyse a company through the ESG lens while governments and society penalise irresponsible companies. On the other hand, he said companies with strong ESG proposition are creating value through increased top-line growth, lower production costs, better financing terms, government support and subsidies besides enhanced returns on capital invested.”
Agrochemical firm UPL launches India’s first sustainability-linked loan - Agrochemical firm UPL has launched the first dollar term loan by an Indian borrower targeted at investors with an interest margin that rises or falls based on environmental, social and governance targets, according to data compiled by Bloomberg.
Sustainability-linked borrowings offer access to lower-cost ethical funding, while avoiding some of the restrictions for use of proceeds found in green debt. The company mandated MUFG and Rabobank to arrange a $500 million five-year sustainability-linked loan, which has been launched to syndication, according to people familiar with the matter who asked not to be identified. The deal offers an opening margin of 130 basis points over Libor and will give margin reductions if the company achieves certain ESG-linked key performance indicators. ING names Anne Sophie Castelnau as global head of sustainability -
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SGX inks deal with OneConnect Financial Technology on ESG reporting - Singapore Exchange (SGX) and OneConnect Financial Technology (OneConnect), one of the leading technology-as-a-service platform provider, has entered into a Memorandum of Understanding (MOU) to collaborate and build an environmental, social and governance (ESG) platform to facilitate and simplify the ESG disclosure processes of companies listed on SGX.
OneConnect is an associate of Ping An Insurance (Group) Company of China. This collaboration is part of the company’s efforts to develop and promote a sustainable ecosystem by raising the quality of ESG disclosures and promoting the application and integration of ESG factors across capital market stakeholders in the long term. The collaboration places OneConnect as the ESG trailblazer of the Asia Pacific region, deploying a suite of tech solutions that establishes a framework and streamlines ESG reporting through specified standard indicators and templates.
BNP Paribas Real Estate ropes in Jonathan Hale to head sustainability & ESG - Jonathan Hale has been appointed to lead the sustainability and ESG by BNP Paribas Real Estate.
Jonathan Hale’s appointment is seen as the organisation’s strategic move to strengthen its commitment to ESG. BNP Paribas Real Estate has a dedicated team of experts ready to support clients in reducing their emissions and achieving their net-zero targets. Jonathan will be instrumental in leading this transition. According to the World Green Building Council report, the real estate sector accounts for 39 percent of all global Greenhouse Gas Emissions (GhG). Contextually, the industry has a pivotal role to play in tackling the climate challenge. Flipkart joins EV bandwagon; to deploy 25000 EVs by 2030 - E-commerce marketplace Flipkart will deploy more than 25,000 electric vehicles (EVs) by 2030 in line with its commitment to fast-track their adoption in the country.
Besides transitioning to EVs across its city logistics fleet, it will help set up charging infrastructure around the company’s delivery hubs and offices. Flipkart said it has already started deploying two-wheeler and three-wheeler electric vehicles in multiple locations for delivery across the country, including in Delhi, Bengaluru, Hyderabad, Kolkata, Guwahati and Pune. ESG investing can bridge supply-demand mismatch in corporate bonds: CRISIL - Three ‘I’s – infrastructure, investment and innovation, all necessitated by the pandemic – are scripting what promises to be an unusually busy time for the bond markets.
While CRISIL expects total outstanding supply of corporate bonds to more than double from Rs 33 lakh crore in fiscal 2020 to Rs 65-70 lakh crore in fiscal 2025, demand is expected to lag at Rs 60-65 lakh crore. This was revealed in CRISIL’s Yearbook on the Indian debt market. According to CRISIL, significant global capital on the back of environmental, social and governance (ESG) can help bridge this gap. Issuers, though, will need to keep an ear to the ground. Ardagh Group launches $2.65 billion green bond - NYSE-listed Ardagh Group has announced that Ardagh Metal Packaging (AMP), through its wholly-owned subsidiaries, Ardagh Metal Packaging Finance and Ardagh Metal Packaging Finance USA, launched a bond financing of approximately $2.65 billion, through the issue of (i) $600 million US dollar Senior Secured Notes due 2028, (ii) $550 million equivalent Euro Senior Secured Notes due 2028 (iii) $1,000 million Senior Notes due 2029 and (iv) $500 million equivalent Euro Senior Notes due 2029.
The offering follows Ardagh’s announcement on February 23, 2021 of the proposed combination of its metal packaging business with Gores Holdings V Inc, under which Gores Holdings V will combine, subject to a shareholder vote, with Ardagh’s beverage can business, that will be held by AMP. AMP intends to apply to list its shares on the New York Stock Exchange, under the new ticker symbol “AMBP”. SEO Factors That Will Affect Your Search Engine Ranking. SEO Factors That Will Affect Your Search Engine Ranking:- This time of the year is the best for retrospection and after Google passed the Panda and the Penguin update, it is important for someone to deduce or determine the ways in which you can increase the rank of your website and help boost your Google rank.
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Good quality content: Ultimately, whatever may be the kind of update or algorithm that Google produces, good quality content will always remain as the most important factor for a website. Phool's Ankit Agarwal grabs Global Good Fund fellowship - A nonprofit social enterprise built by social entrepreneurs for social entrepreneurs, the Global Good Fund (GGF)has announced its 2021 fellowship. Ankit Agarwal, Founder, Phool is one of the fellowship recipients this year. Phool India recycles the temple waste (flowers) into flower-cycled incense and vermi-compost. The company aims at preserving the river Ganges where the flower waste from temples otherwise landed.
GGF aims to encourage the class of visionary founders and CEOs that are transforming communities and solving some of the world’s most intractable problems, from climate change and economic mobility to health care access and youth development. In its ninth year, the Global Good Fund network has grown to include more than 175 social entrepreneurs that are solving the world’s most pressing social issues. Since the organization’s founding in 2012, it has supported 175 fellows across 40 countries whose work has impacted 8.8 million lives globally.
Danfoss India sets new standards towards sustainable urbanisation - Danfoss Industries has partnered with Kolkata Metro Rail Corporation (KMRC) and Chennai Metro Rail (CMRL) to offer ‘Drives’ solutions of varying capacities to enhance safety, comfort, energy efficiency, sustainability, and reliability of metro networks. Danfoss designs are unique, as they ensure the safety and protection of the equipment and help Metros meet their sustainability goals by reducing their overall carbon emissions and energy footprint. At both the KMRC and CMRL projects, Danfoss Variable Frequency Drives’ installation has contributed to 15%-25% energy savings across various applications. “In a rapidly urbanising world, concerns of energy efficiency and carbon emissions have become paramount. Reliance Industries to hive off O2C biz; makes strategic shift towards renewable energy -
Reliance Industries expects to hive off its oil-to-chemicals (O2C) business into a 100% subsidiary in the September quarter, which maybe a step towards its new energy and material plans into batteries, hydrogen, renewables and carbon capture. “All of which point to the next leg of multiple expansion and clarity on the next investment cycle,” said Morgan Stanley in a report. “Until the stake sale is completed, there will be no subordination risk for Reliance’s lenders, as the company will continue to have full access to the O2C business’ cash flows, given its full ownership of and no external debt at the new subsidiary,” said Sweta Patodia, analyst, Corporate Finance Group, Moody’s Investors Service.
Kristen Weldon to head Partners Capital's ESG & Impact Investing portfolio - A leading global outsourced investment office with in excess of $38 billion in assets under management, Partners Capital has strengthened its ESG and Impact Investing portfolio by getting a new leader. The company has announced that Kristen Eshak Weldon has joined the firm as Global Head of ESG and Impact Investing. This is a strategically important leadership role within the firm with the overarching objective of continuing to build out its ESG and Impact investment platform. Kristen will further integrate ESG considerations into the firm’s decision making and lead targeted engagements with asset managers to ensure that they fully and effectively incorporate ESG drivers into their investment decisions. Furthermore, Kristen will be responsible for building impact investment portfolios and taking over responsibility for measuring the impact that those investments have on the planet and society.
“I am thrilled to be joining Partners Capital at such an important time. H&M's €500m sustainability-linked bond oversubscribed 7.6 times - PM Modi urges IITs to develop disaster resilient infra to fight climate change - Warning against the dangers of climate change and natural disasters like the one in Uttarakhand recently, Prime Minister Narendra Modi Tuesday asked the IITs to develop disaster resilient infrastructure that can withstand their effects. Addressing the 66th convocation of IIT (Kharagpur), the oldest of Indian Institutes of Technology, he gave the students the mantra of “Self-3” – “self-awareness, self- confidence and selflessness” – in order to become startups for bringing about a change in the lives of people. Approach and performance of ESG mutual funds in India - In the previous article of this two-article series, we read about how the ESG funds are expected to gain significant interest and traction among Indian investors.
Sustainability-linked bonds: The next big instrument to sustainability goals - Recently Aditya Birla’s Ultratech launched the Sustainability-Linked Bonds (SLBs) for the first time in India. Kilroy Realty ties up with CodeGreen to track energy, carbon emissions - A leader in real estate sustainability, Kilroy Real Estate has partnered with CodeGreen to track energy, water, waste, and carbon emissions for over 80 assets in their portfolio across the western US. Amazon India honours e-mobility commitment; forges ties with Mahindra Electric - Hyundai Motor introduces first model with dedicated EV platform -
South Korean auto giant Hyundai Motor unveiled the IONIQ 5, the first model embedded with its own electric vehicle (EV) platform, as it strives to morph into a future mobility solutions provider. MUFG Union Bank offers green deposits in the US - MUFG Union Bank, N.A., has announced the launch of green deposits for its commercial and corporate clients to support sustainable projects that benefit the environment. Asian markets bite into largest pie of ESG investments - Asia is becoming the hottest continent for socially responsible investors looking invest into the emerging markets. According to EPFR Global data, China and its Asian peers attracted 75 cents out of each dollar of capital invested in 2020 across emerging market stocks compliant with environmental, social, and governance, or ESG principles, Bloomberg reports.
The trend has continued, with the region bringing in 83.33 cents per dollar invested in ESG investments in the emerging markets so far this year. EPFR data showed that out of a record $30 billion inflows into ESG funds last year, Asia attracted $22.4 billion. In 2021, the region has gathered $5.5 billion, compared to $1.1 billion in the rest of the developing world.
Asian countries have been a go-to for international equity investors as the region has enjoyed relative success in handling the coronavirus pandemic, notably China, where the economy showed positive growth over 2020. Latest Window Treatment Ideas for Style with Privacy. Window treatment ideas for large windows: We all know window is one of the most important elements in design, and window treatment ideas. BCI targets $5 billion investment in sustainability bonds by 2025 - An 85-year-old project that kickstarted the $30 trillion ESG boom - US rejoins Paris Pact - India shows intent with new Hydrogen Energy Mission - Remika Agarwal to head Creation Investments' India operations - ESG Funds: Investors losing patience with slow climate strategies - US working towards building a sustainable economy: McKinsey - Maersk to launch carbon-neutral liner vessel in 2023 - Progressing from large cap to all cap: Introducing S&P MidCap 400 ESG and S&P SmallCap 600 ESG indices -
Seven mistakes you should avoid after a breakup. Crescent Point acquires Shell's Kaybob Duvernay assets for $900M - How to track your partner incoming and outgoing calls. Bank of America's Karen Fang elected to LISC national board - ESG finance to become core part of strategy: Goldman Sachs - Corporate sustainability performance: S&P Global makes over 9,000 ESG scores public - Jaguar to go all electric by 2025; JLR to become net-zero by 2039 - Tesla to set up EV manufacturing unit in Karnataka - TERI chief elected as Director General of International Solar Alliance - White hat or Black hat – Which one is the finest SEO practice? Carbon emission cuts need to be 80% more ambitious to meet Paris Agreement targets - DSV Panalpina steps up strategy and ambitious targets for corporate responsibility - India needs $1.4 trillion over next 20 years to put itself on sustainable path -
S&P DJI wins Best ESG Index Provider Award - Chennai Metro uses ABB’s HVAC drives technology for better air quality - Jefferies to hold ‘Doing Good’ Global Trading Day - Joe Biden offers $100 million in technology funding for clean energy - Strong ESG adoption across public and private Companies: NAVEX survey - Marcus Martin joins US Bank as ESG head - Moody’s names Sabine Lochmann as Global Head for ESG Measures - Shell bats for net-zero emissions energy business by 2050 - What Budget 2021 meant for sustainable development - US President Biden inks executive order to rejoin Paris Climate Accord - Economic Survey 2020-21: Climate change and sustainable development high on agenda - Global pandemic accelerated pace of ESG investments: MSCI - What the industry wants: Budget 2021 wishlist for a greener tomorrow - UNEP, Tata Power, Central Railway join hands to launch EV charging points in Mumbai - Okinawa Autotech hints at January launch for electric two-wheelers for last mile delivery -