Investeu green transition investment facility

- A + A NEW YORK/DALLAS (May 19): BlackRock Inc told Texas it’s committed to helping clients invest in the energy industry, rebutting suggestions by state officials that the firm boycotts fossil-fuel companies through its advocacy for sustainable investing. The world’s largest asset manager oversees about US$310 billion of investments in energy firms worldwide, including more than US$115 billion in Texas companies, BlackRock said in a letter to state Comptroller Glenn Hegar. “We do not boycott energy companies,” BlackRock’s Dalia Blass, head of external affairs, and Chief Client Officer Mark McCombe wrote in the May 13 letter, obtained through a public-records request. “On behalf of our clients, we are invested in industries and in communities across Texas.” A spokesman for New York-based BlackRock declined to comment beyond the contents of the letter. BlackRock, with US$9.6 trillion under management as of March 31, said its business model is to offer a wide … [Read more...] about BlackRock tells Texas it supports investments in oil and gas

- A + A (May 19): Lotte Chemical Corp will invest 10 trillion won (US$7.8 billion) to expand its hydrogen and battery materials businesses through 2030 in a bid to accelerate its decarbonization goals. The Seoul-based petrochemical producer is targeting annual sales of 5 trillion won each in its hydrogen and battery divisions by the end of the decade, it said in a statement. It will spend 6 trillion won on its hydrogen operations and 4 trillion won to boost battery materials output. South Korean corporates have been spending aggressively to cut their carbon footprints after Seoul pledged in 2020 the country would be carbon neutral by 2050. SK Innovation Co is pumping 30 trillion won through 2025 into its green business portfolio, mainly in batteries and recycling plastic waste, while LG Chem Ltd is investing 10 trillion won through 2025 in battery materials. Lotte Chemical said it’s aiming to produce 1.2 million tons of hydrogen a year by 2030, and is also planning … [Read more...] about Lotte Chemical to invest US$7.8 bil in hydrogen and batteries

Representational image of extreme weather events due to climate change. (Image: AP) While it recognises the need for urgent climate finance by developed economies, the draft agreement hammered out at COP26 after nine days of intense negotiations does not put a final target on the total amount of finance or the minimum level of funds to be raised. “The draft agreement has mentioned the need for significantly scaling up the $100-billion climate finance target manifold, and has suggested that this may reach more than $1 trillion. However, there is scant movement beyond this,” a senior official present at the summit said. Climate finance refers to local, national or transnational financing—drawn from public, private and alternative sources of financing—that seeks to support mitigation and adaptation actions that will address climate change. Even before COP26 began in Glasgow, the Organisation for Economic Cooperation and Development had said developed countries would likely … [Read more...] about Draft COP26 deal sees no final amount or deadline for beginning climate finance yet

Sponsored Over the years, the island of Phuket has become a magnet for luxury travellers who seek to experience the finer things in life. While 5-star hotels and boutique resorts have gratified the needs of discerning holidaymakers, a relatively new form of accommodation has come to redefine the true meaning of a luxury stay – private villas. Set in the most enviable locations, these ultra-posh vacation rentals turn dream holidays into reality. They boast extravagant amenities such as multiple infinity swimming pools, private cinemas, fully-equipped gyms, game rooms, and in-house spas. The service is just as unparalleled – hyper-personalised where no request is too big or too complicated. Aside from a professional staff that includes your very own private chef and chauffeur, a dedicated concierge service to personalise your entire villa vacation is also at your disposal – from organising a celebration in-villa to planning out your ultimate Phuket itinerary – private jet, yacht … [Read more...] about Make your dream vacation at these 5 grandest luxury villas in Phuket

Republican Florida Sen. Marco Rubio said Wednesday on “America’s Newsroom” that Democrats “want” inflation and high gas prices to cause the public to transition to electric vehicles. Gas prices soared Tuesday to a record-high of $4.523 per gallon for regular, while diesel and premium continued to exceed $5 per gallon after inflation skyrocketed 8.3% in April. Rubio told Fox News host Bill Hemmer that President Joe Biden’s administration has worsened soaring prices, arguing they are not taking steps to increase domestic oil production. “This has to do with the fact that we have far-left extremists inside of that White House who are sympathizers not just to the Cuban regime, but the one in Nicaragua, the one in Venezuela, obviously they sympathize with these people,” the senator said. “They hated the sanctions and they just thought oil was a good excuse so they could get people to support them on. But this is nothing to do with oil because Venezuela can’t provide us oil. The oil … [Read more...] about Sen. Rubio Says Democrats ‘Want’ Inflation And High Gas Prices

Speciality chemicals company Aether Industries Ltd has set a price band of Rs 610-642 a share for initial public offering. Earlier, the firm said its IPO will open on May 24 for subscription and close on May 26. The basis of allotment expected on May 31, credit of shares expected on Jun 2 and the firm may be listed on exchanges on June 3. The IPO consists of a fresh issue of Rs 627 crore and an offer-for-sale of up to 2.82 million shares by its existing shareholders and promoters. On the upper end of the price band, the firm will raise around Rs 801 crore. The proceeds from the issue worth Rs 190 crore will be used to fund proposed greenfield projects in Surat. The firm will also use Rs 138 crore from proceeds to pay debts. The company will use Rs 165 crore for funding working capital requirements. Close HDFC Bank Ltd and Kotak Mahindra Capital Co Ltd are the lead managers to the issue. Aether Industries is a speciality chemicals manufacturer in India … [Read more...] about Aether Industries sets price band at Rs 610-642 a share for its IPO

The newest State of the Global Climate report is bleak: Last year, the world set new records for greenhouse gas concentrations, sea level rise, ocean heat, and ocean acidification. The last seven years have been the warmest seven years on record in human history. The report, released today by the World Meteorological Organization, “is a dismal litany of humanity’s failure to tackle climate disruption,” UN Secretary-General António Guterres said in a video message at the launch event. advertisement advertisement But Guterres also laid out a clear path to action, starting with the fact that the fossil fuel era needs to end. “The global energy system is broken and bringing us ever closer to climate catastrophe,” he said. “Fossil fuels are a dead end—environmentally and economically. The war in Ukraine and its immediate effects on energy prices is yet another wake-up call. The only sustainable future is a renewable one.” To have a chance of limiting … [Read more...] about ‘Fossil fuels are a dead end’: UN Secretary-General outlines how to avoid climate disaster

Share to Twitter Share to Linkedin The American worker is getting lazier. Or at least, that’s what a quick look at recent productivity numbers might make you think. Q1 productivity dropped for American workers while wages actually increased – workers are getting paid more to get less done. Is it laziness though? As tempting as the assertion might be, there’s a lot more to explain recent decreases in productivity. Yes, there’s an incredibly tight labor environment. With unemployment near all time lows and multiple job openings for every person looking for work it definitely seems like workers have all the leverage. They can take it easy on the job and know they won’t get fired, and even if they do, who cares? There’s a position open for them across the street. This comfort factor is definitely part of the productivity narrative, but it’s not the only driver. There’s more to the story if we really want to understand the productivity and wage situation in … [Read more...] about Do Less & Earn More: Declining American Productivity

Share to Twitter Share to Linkedin More Subprime Borrowers Are Missing Loan Payments Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end. The share of subprime credit cards and personal loans that are at least 60 days late is rising faster than normal, according to credit-reporting firm Equifax. In March, those delinquencies rose month over month for the eighth time in a row, nearing their pre-pandemic levels. [ The Wall Street Journal ] Mastercard Launches ‘Smile to Pay’ System Amid Privacy Concerns Mastercard is rolling out a controversial program that will allow shoppers to pay at the till with a mere smile or wave of the hand, as it tries to secure a slice of the $18 billion biometrics market . While face recognition technology has long raised eyebrows among civil rights groups, the … [Read more...] about This Week In Credit Card News: More Borrowers Missing Payments; Now You Can Pay With Your Smile

- A + A SINGAPORE (May 19): Asia-Pacific (APAC) countries can embrace digital more successfully by focusing on three areas — digital infrastructure, industrial applications and digital talent, says Huawei rotating chairman Ken Hu. In sharing his thoughts, Hu said APAC countries are already doing a great job on digital infrastructure as according to the International Telecommunication Union (ITU), mobile coverage in the region has reached almost 100%. “This is an incredible achievement. Just 10 years ago, some APAC countries did not have any 3G or 4G infrastructure at all. “Now, the Global System for Mobile Communications Association (GSMA) estimates that by 2025, APAC will have 1.2 billion 5G connections,” he said in his keynote address at the Huawei Asia Pacific Digital Innovation Conference 2022 here on Thursday (May 19). In addition to strong connectivity, Hu said APAC countries also need to build more important infrastructure like cloud and data centres. On … [Read more...] about Huawei: APAC can go digital more successfully by focusing on infrastructure, industrial applications, digital talent