Market TrendsESG will be industry standard within five years, say institutional investors
Over two thirds of institutional investors (70 per cent) expect investing in line with environment, social, and governance factors (ESG) to become standard practice across the industry within the next five years, according to a recent survey by Natixis Investment Managers.
Financial FraudUK’s anti-fraud agency abandons probe into ABB
The UK’s Serious Fraud Office has closed its investigation into Swiss-Swedish conglomerate ABB after finding insufficient evidence to bring charges, in the latest case the agency has cleared from its backlog.
Market TrendsLuckin to Resume Trading Wednesday After Delisting Notice
Luckin Coffee Inc. is scheduled to resume trading on the Nasdaq on May 20, the exchange reported, days after it sent the company a delisting notice.
Negative events of ExecutivesPing An Good Doctor Replaces Four More Top Executives
Ping An Insurance continued the housecleaning at the top of its Ping An Good Doctor online health services provider, replacing four more senior managers after the removal last week of Wang Tao, the unit’s chairman, executive director and CEO. The moves may presage a combination of two health-care units, company sources said.
Negative Environment EventsPost-Covid Industrial Rebound Worsens China’s Smog Problem
China’s air pollution levels recently surpassed concentrations over the same period last year for the first time since the coronavirus crisis began, fueled by an increase in industrial emissions, a new report has found.
Market TrendsCitigroup Launches New ESG Investment Banking Group
Citigroup Inc said on Tuesday that is launching a new business unit within its corporate and investment bank dedicated to environmental sustainability to strengthen its commitment to an area that has grown increasingly important to corporate clients and investors.
Market TrendsLargest solar-storage plant in the US will be managed by new subsidiary of ESG investor Quinbrook
The Gemini Solar + Battery Storage Project, approved for construction by the US Department of Interior earlier this month, will be managed by a newly-launched subsidiary of investor Quinbrook Infrastructure Partners.
Market TrendsSpain Targets Net Zero Emissions By 2050
Spain’s government is proposing new legislation to have the country commit to net-zero carbon emissions by 2050 at the latest, which, if approved, will ban all new oil, gas, and coal projects with immediate effect.
Corruption & Bribery‘Two-Faced’ Provincial Governor Admits to Amassing Over $100 Million in Ill-Gotten Gains
Shaanxi province’s former Communist Party Secretary has pleaded guilty to accepting bribes worth hundreds of millions of yuan, state-run CCTV reported.