How to ensure environmental sustainability

Reuters filepix for illustration purpose only - A + A KUCHING (May 18): The Sarawak state government will formulate a Climate Change Policy in line with Malaysia's commitment to reduce greenhouse gas (GHG) emissions under the 12th Malaysia Plan (12MP). Sarawak’s Deputy Minister of Energy and Environmental Sustainability Dr Hazland Abang Hipni said the policy, which would focus on green energy sources such as hydropower, solar energy and hydrogen, would be drafted after a climate change study under 12MP is completed. “From the study we hope to get the guidelines on GHG emissions according to sectors, namely, energy, transportation, industrial and agricultural, as well as through change in land use and waste management. "As globally, the focus in currently on sustainable development, the implementation of Sarawak's upcoming development projects will come with its own costs, especially the impact on the environment and biodiversity conservation," he said in a … [Read more...] about Sarawak to formulate climate change policy

Share to Twitter Share to Linkedin Topline Four key indicators of climate change reached “alarming” record highs in 2021, the United Nations said on Wednesday, as it warned worsening climate change is poised to exact heavy financial losses, impose huge burdens of death and disease and threaten food and water security. Key Facts Greenhouse gas concentrations, sea level rise, ocean heat and ocean acidification—all key climate change indicators—hit record highs in 2021, according to the World Meteorological Organization (WMO) in its annual “State of the Global Climate” report. The report said the last seven years have been the seven warmest on record. WMO Secretary-General Professor Petteri Taalas said it was “just a matter of time before we see another warmest year on record” and warned that sea level rise, ocean heat and ocean acidification will “continue for hundreds of years” unless humanity develops ways to remove carbon from the … [Read more...] about ‘Alarming’ Climate Records In 2021 Prompt UN Call To Triple Renewable Energy Investment To $4 Trillion

- A + A KUALA LUMPUR (May 18): Felcra Bhd aims to add 50,000 hectares of oil palm plantation land over the next five years to ensure the sustainability and viability of the company as well as to grab the opportunity from the high demand for palm oil exports. Chairman Datuk Ahmad Jazlan Yaakub said Felcra currently has 31,000 hectares of plantation land of which the yield is only from 26,000 hectares. “Given that commodity (palm oil) prices are currently rising due to the world’s major producing country, namely Indonesia, having reduced its exports to keep domestic prices low, it provides space for palm oil producers in other countries such as Malaysia to gain market share at the international level,” he said. He told this to reporters at the Aidilfitri celebration and signing of a Memorandum of Understanding for the Residensi Koperasi Felcra Project at the Setiawangsa Community Centre here on Wednesday. Ahmad Jazlan said Felcra has several commodity crops 20% of … [Read more...] about Felcra aims to add 50,000 hectares of oil palm plantation over the next 5 years

Share to Twitter Share to Linkedin Tesla, the world’s leading maker of electric vehicles, has been cut from S&P’s ESG Index created for environmentally conscious investors owing to flaws in its business conduct and, ironically, aspects of the company’s low-carbon strategy. The move inflamed Tesla CEO Elon Musk who called “ ESG is a scam .” S&P removed Tesla from the index early this month as part of a regular rebalancing of companies that prioritize sustainability but didn’t detail the changes until today, with a blog post from Margaret Dorn, head of S&P’s North American ESG Indices. Apple, Microsoft, Amazon and Alphabet were the highest-ranked companies on the list, which assesses companies’ overall environmental impact, sustainability efforts and corporate culture. Curiously, oil giant Exxon Mobil ranked among the index’s top 10 while Tesla scored in the bottom 25%, making it ineligible for inclusion. Tesla “was pushed further down … [Read more...] about Elon Musk Goes On The Attack After Tesla Cut From S&P ESG Index

- A + A KUALA LUMPUR (May 18): Technology-related company JCY International Bhd saw its net loss for the second quarter ended March 31, 2022 (2QFY22) narrow to RM14.23 million from RM22.55 million a year ago driven by improved operational yields amid business recovery from the Covid-19 pandemic. However, the company’s quarterly revenue fell 9.06% to RM224.71 million from RM247.08 million mainly due to a general drop in shipments as a result of weaker market demand. On a quarter-on-quarter basis, the company sank into the red compared to a net profit of RM6.37 million in 1QFY22 on lower revenue and increase in raw material prices. Revenue fell 24.37% from RM297.11 million in the immediate preceding quarter. For the six months ended March 31 (6MFY22), JCY International’s net loss improved to RM7.89 million from RM40.28 million a year earlier. Six-month revenue declined slightly to RM521.82 million from RM523.94 million. The addressable market for hard disk drive … [Read more...] about JCY International narrows 2Q net loss on improved operational yields despite revenue fall

During the past couple of weeks, several companies have announced significant layoffs, Cameo and Robinhood , among others. Similarly, Meta announced a hiring freeze, and Uber's CEO mentioned that from now on, hiring is going to be a "privilege." The main driver here is the sense of a recession in the air. From the significant drop in the valuation of recently IPO'd tech firms to the urgency in the Fed's actions, the general sense is that the euphoria of private firms' valuations and $100 million seed rounds are a thing of the past. Over the past few years, most startups have invested heavily in growth, but they are still far from being profitable, so most will soon see a need to raise additional funds. Since the previous funding rounds were probably raised on inflated valuations, raising additional funds will likely require taking a "down round," impacting current investors and further diluting the founders. So the question every founder and operator … [Read more...] about As Talk of a Recession Looms, Here’s What to Consider Before Laying Off People to Cut Costs