Environmental protection, carbon peaking and carbon neutrality, and policies
**The work report first mentions promoting the use of green electricity and international mutual recognition
On March 5, Premier Li Qiang proposed in the work report that this year's work tasks should be actively and steadily promoted to carbon peak and carbon neutrality. Strengthen the construction of large-scale wind power and photovoltaic bases and transmission channels, promote the development and utilization of distributed energy, develop new energy storage, promote the use of green electricity and international mutual recognition, and give full play to the role of coal and coal-fired power to ensure the energy demand of economic and social development. This is the first time that the work report mentions the promotion of green electricity use and international mutual recognition. Green electricity refers to the electricity generated by renewable energy power generation projects.
China and the United States held a green port and low-carbon shipping cooperation and exchange meeting
On March 3, local time, the 2024 China (Shenzhen)-United States (Long Beach) Green Port and Low-Carbon Shipping Cooperation and Exchange Conference was held in Long Beach, a port city in southern California, with representatives from more than 60 global shipping and logistics companies, container terminal operators, zero-emission technology developers and equipment manufacturers. Mario Cordero, Executive Director of the Port of Long Beach, said that the Port of Long Beach is honored to participate in the U.S.-China exchange program in the areas of achieving net zero emissions, decarbonization, and green shipping and logistics, and looks forward to in-depth cooperation with Shenzhen Yantian International Company.
esgFinance
1. Suyin Financial Leasing successfully issued the industry's first China-EU common catalogueCGT certified green financial bonds
On March 1, Suyin Financial Leasing Co., Ltd. successfully issued the 2024 Green Financial Bond (Phase I) (Bond Connect). This bond is the first green financial bond in the financial leasing industry to be certified by the China-EU Common Taxonomy of Sustainable Finance (CGT), with an issuance scale of 1.5 billion yuan, a maturity of 3 years, and an issue interest rate of 2.%.45%, setting the lowest interest rate in the history of financial bond issuance in the financial leasing industry. The issuance of green bonds was actively subscribed by the market, covering banks, brokers, ** and other multi-level investment entities, with a subscription multiple of 406 times, which fully reflects the market's high recognition of the operation and credit status of Suyin Financial Leasing, and further establishes a good image of the company in the capital market. All proceeds from this issue of bonds will be used to support green industry projects that meet the standards of the Green Bond Backed Project Catalogue and the Common Taxonomy of Sustainable Finance.
Social practices and corporate trends
Tesla's Berlin plant in Germany lost power and stopped production
On March 5, local time, the Gigafactory of American electric vehicle manufacturer Tesla Inc. in the southeast of Berlin, Germany, stopped production activities due to power outages. The power outage may have been caused by a fire set by climate activists on a power pole. At present, the employees of the factory have been evacuated. In addition to the plant, the nearby city of Elkener and parts of Berlin were also affected by the power outage. According to a recently released survey of the majority of residents in the area where the factory is located, Tesla's plans for a massive expansion are opposed.
Toyota intends to wholly acquire Panasonic's stake in the battery joint venture
On March 5, Toyota Motor Corporation announced that it will acquire Panasonic's 195% stake. Upon completion of the acquisition, Primearth will become a wholly owned subsidiary of Toyota, thereby strengthening its capacity to mass-produce automotive batteries. The acquisition will take place in late March, and in addition to hybrid EV batteries, the battery company plans to start production of batteries for battery electric vehicles and plug-in hybrid electric vehicles.