China’s electric vehicle (EV) maker Leapmotor has signed a carbon credit transfer agreement with Italy’s Stellantis. The plan sees Stellantis buying CO₂ credits from Leapmotor, which can generate these credits through producing and selling zero-emission vehicles (ZEVs). The deal reflects how EV manufacturers are not only cutting emissions but also earning revenue by selling tradable…
(Bloomberg) — Contemporary Amperex Technology Co. Ltd. is planning to seek at least $4 billion from its Hong Kong stock offering, people familiar with the matter said, which would make it the world’s biggest listing this year. The eventual proceeds could rise to $5.3 billion if the deal is upsized and the greenshoe exercised, according…
(Bloomberg) — Asian stocks pulled back after a five-day rally that pushed a regional gauge into overbought territory, as investors turned cautious amid increasing trade tensions and geopolitical uncertainty. Hong Kong technology stocks were an outlier. The MSCI Asia Pacific Index dropped as much as 0.6% with stocks in Hong Kong and Japan declining after…
China said on Saturday it had built the world’s first offshore oil production and storage vessel capable of capturing carbon dioxide, taking another step towards meeting its carbon emissions targets. State broadcaster CCTV reported that the 330-metre (1,080ft) floating production storage and offloading unit (FPSO) would be delivered at the end of this month. The…
(Bloomberg) — Amazon.com Inc founder Jeff Bezos’ $10-billion Earth Fund has ended its support for the Science Based Targets initiative, the main verifier of corporate climate targets, the Financial Times reported. The billionaire’s philanthropic entity has halted backing for the group following complaints by SBTi staff about its influence, the report said. It’s also seen…
(Bloomberg) — China and Japan agreed that Beijing’s top diplomat should visit in 2025, adding to the signs the two nations are repairing ties that have been strained in recent years. Chinese Foreign Minister Wang Yi would make the trip at the earliest appropriate date, the Foreign Ministry in Tokyo said in a statement Wednesday….
Hong Kong’s standing as an aviation and maritime hub was dealt a severe blow by the Covid-19 pandemic, China’s economic downturn and intensifying competition. Now, it faces another challenge: green fuel. The city trails regional rival Singapore on policies and supply chain development for sustainable aviation fuel (SAF), the most feasible decarbonisation solution for the…
Hong Kong’s standing as an aviation and maritime hub was dealt a severe blow by the Covid-19 pandemic, China’s economic downturn and intensifying competition. Now, it faces another challenge: green fuel. The city trails regional rival Singapore on policies and supply chain development for sustainable aviation fuel (SAF), the most feasible decarbonisation solution for the…
(Bloomberg) — A lack of green offices is posing a fresh risk to Hong Kong’s beleaguered property sector amid a slump that’s already wiped billions of dollars from real estate values. Faced with record vacancy rates and dwindling revenues, developers are reluctant to invest in expensive building upgrades to boost climate credentials and are as…
The lithium market has entered a period of price decline, mainly because of weaker demand conditions and an oversupply of lithium carbonate in key regions. In October, seaborne lithium carbonate prices for Asia dropped by 3.8%, hovering around $10,000 per metric ton, according to S&P Global Commodity Insights analysis. The price dip reflects the seasonal…