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如果您正想進入可持續發展行業,或者已經是該領域的從業人員,想提升技能但又不確定哪種 ESG 培訓課程適合您。參加這次分享會,從跨行業的資深和年輕專業人士身上,聽取他們的 ESG 學習經驗及各種不同的 ESG 專業培訓路線的區別,探索適合您的可持續發展資格或培訓。

報名: https://forms.gle/zhSuvHdSVE3hnzSC7

Sharing on 19 July: How to select the Right Qualification or training to pursue career in sustainability?

The field of sustainability has seen a tremendous surge in interest and attention in recent years, and as a result, numerous education programs and “ESG certifications” are available in the market.

So, what is the right qualification or training for you to pursue career in sustainability?

If you are considering to start your career in sustainability or if you are already a practitioner in the field and would like to upskill but unsure which ESG training programs might be suitable for you. Join us to learn from seasoned and young professionals across industries on their ESG study journeys and how various ESG training routes differ.

Registration: https://forms.gle/zhSuvHdSVE3hnzSC7

EU Regulators’ Initial Findings on Greenwashing

Green Finance Advisor of Friends of the Earth (HK)

Following the European Commission’s request, the European Supervisory Authorities (ESAs) published their Progress Reports on greenwashing in the financial sector on Jun 1, 2023. The three ESAs are EBA (European Banking Authority), EIOPA (European Insurance and Occupational Pensions Authority) and ESMA (European Securities and Markets Authority), who regulate the European banking, insurance and capital markets sectors. The ESAs put forward their views on where they see greenwashing occurring, including a common high-level understanding of what they consider to be greenwashing.

The ESAs define greenwashing “as a practice where sustainability-related statements, declarations, actions, or communications do not clearly and fairly reflect the underlying sustainability profile of an entity, a financial product, or financial services. This practice may be misleading to consumers, investors, or other market participants.” They also mention “sustainability-related misleading claims can occur and spread either intentionally or unintentionally.”

In particular, the ESMA progress report* provides sector-specific assessment for key sectors for issuers, investment managers, benchmark administrator and investment service providers, while states that misleading claims “may relate to all key aspects of the sustainability profile of a product or an entity – from governance aspects to sustainability strategy, targets and metrics or claims about impact.”

The report also provides some potential remediation actions to the identified greenwashing drivers and risks. It suggests improvement to be made in the sustainability disclosures and the labeling scheme for financial products for retail investors. A more robust regulatory framework and clarifications on the key concept (i.e. transition investors) should be the key to support better integration of sustainability impact and engagement efforts.

Last but not least, it highlights the needs for establishing reliable and comprehensive sustainability data, including recourse to external validation and assessment of the ambition and creditability of sustainability commitment/pledges (such as the Science-Based Target Initiative (SBTi), clarifications and transparency of ESG data methodologies and minimum standards for the quality of estimates of ESG data.

As for the next steps, the ESAs will publish their final greenwashing reports in May 2024 and will consider final recommendations, including on possible changes to the EU regulatory framework.

*ESAs put forward common understanding of greenwashing and warn on risks (europa.eu)

【Green Finance Blog 2023 Summer Special】Conquering Asia’s Plastic Mountain

Alexandra Tracy, Green Finance Advisor of Friends of the Earth (HK)

Single use plastic packaging globally is expected to be a US$26 billion industry this year, with high growth driven propelled by the spending power of the burgeoning middle class across Asia, in particular.  A study by consulting firm Future Market Insights predicted that the market for throw away plastic will expand by 6.1 percent in 2023, and will reach US$47 billion by 2033.

As more people move into towns and cities, and their disposable incomes rise, Asian businesses are rapidly utilising disposable plastics across many industries, most notably in the ecommerce, food and beverages and healthcare sectors.  The enormous popularity of online food deliveries in major market such as India and China is a key driver of growth, while the widespread distribution of single use plastic sachets to sell cheap products in small quantities in less developed regions has led to increased waste and pollution across the continent.

Scant progress on recycling

Another depressing report from the Minderoo Foundation, a non profit, recently found that between 2019 and 2021, global production of single use plastics was fifteen times larger than recycled plastic production.  During that period, 6 million tonnes of single use plastics was produced, a number that is expected to rise exponentially as fossil fuel companies around the world increase their focus away from oil production to petrochemicals.  Meanwhile, only 9 percent of all plastic produced globally is recycled, causing an estimated 10 million tonnes of plastic waste to end up in the ocean every year.

The underlying problem is that in most countries it is cheaper to produce virgin plastic than to sort, clean and recycle used plastic.  According to Minderoo, companies are only investing in scaling up recycling capabilities in developed countries where there is regulation in place that encourages demand for recycled plastics.  Attracting investment into recycling infrastructure in developing countries, where plastic pollution is becoming acute, is much more challenging.

Private capital starting to flow to emerging markets

According to the Circulate Initiative’s Plastics Circularity Investment Tracker, US$4.1 billion was invested in plastics circularity solutions (defined as technologies, business models or other methods to tackle the plastic pollution challenge by eliminating, reducing or reusing plastic, or by keeping plastic materials in circulation without allowing them to leak into the environment) during the period between January 2018 and September 2022.

It is encouraging that downstream solutions, especially recycling and recovery services, where capital is acutely needed, received US$3.6 billion of that amount.  The Circulate Initiative highlights, however, that much more diverse investment across the plastics value chain is still needed to build a circular economy for plastics.  Upstream solutions such as materials and redesign, refill and reuse and digital mapping will also be essential for the transition, creating opportunities for investing in disruption and innovation.

More capital coming into Asia

The vast majority of the investments identified by the Plastics Circularity Investment Tracker, at US$3.5 billion, or 87 percent of the total, came into Asia.  Of this, US$1.6 billion in private capital was invested in South East Asia, followed by East Asia and South Asia with US$1.1 billion and US$678 million, respectively.

Accelerating investment levels in Asia, in particular, reflects the scale of the challenge that plastics are creating in this part of the world.  According to the World Bank, Asia contributes more than 80 percent of the plastic waste leaking into the ocean, and emerging countries in the region are still importing considerable amounts of waste from developed countries.

More positively, several countries in Asia, including Japan and Korea, have implemented new regulations to tackle the plastics waste issue, such as Extended Producer Responsibility (EPR) requirements for packaging.  Singapore and Vietnam are currently going through this process, while the Philippines is planning to require large corporations to recover 80 percent of plastic packaging by 2028.  Over time, these moves will help to mobilise additional capital into these countries.

Companies doing better

Some companies in Asia are already making a name for themselves as leading in efforts to do better on plastic waste.  Minderoo’s recent report identified two companies, Far Eastern New Century in Taiwan and Thailand headquartered Indorama Ventures, that are currently producing recycled polymers at scale.  Indorama has been particularly active in expanding its polyethylene terephthalate (PET) bottle to bottle recycling facilities, supported by financing from the International Finance Corporation and the Asian Development Bank among others.

In the venture funding space, Circulate Capital in Singapore, backed by a number of large multinational retail brands, has for several years been putting capital into start ups in South and South East Asia that are creating alternative solutions to plastic waste.  For example, investee company Lucro Plastecycle, in Bombay, converts low value flexible plastic such as shrink wrap into plastic granules that are sold to manufacturers in India.  Another portfolio company, Jakarta headquartered Tridi Oasis, turns PET bottles into plastic flakes which are used to make packaging and textiles in Indonesia.

【綠色金融網誌 2023 夏季特別篇】征服亞洲的塑膠山

Alexandra Tracy 香港地球之友綠色金融顧問

在亞洲地區的中產階級消費增長的帶動下,預計在今年,全球即棄塑膠包裝產業亦高速增長價,值將達到260億美元。諮詢公司Future Market Insights的一項研究預測,即棄塑膠的市場在2023年將擴大6.1%,到2033年更將達到470億美元。






根據Circulate Initiative的「塑膠循環投資追蹤」,在2018年1月至2022年9月期間,塑膠循環解決方案(定義為通過消除、減少或重新使用塑膠,或通過保持塑膠材料的循環流通而不使其洩漏到環境中,來應對塑膠污染挑戰的技術、商業模式或其他方法)獲得了41億美元投資。

令人鼓舞的是,下游解決方案,特別是急需資金的循環和回收服務,獲得了其中36億美元的資金。然而,Circulate Initiative強調,要建立塑膠的循環經濟,整個塑膠價值鏈仍然需要更多不同的投資。上游解決方案,對於轉型也是至關重要的,這為投資顛覆和創新創造了機會。如材料和重新設計、重新填充和再利用及電子測繪。






亞洲有一些公司已經在努力解決塑膠垃圾揚名。 Minderoo最近的報告指出,台灣的遠東新世紀及總部設在泰國的Indorama風險投資公司目前正在大規模生產再生塑膠。在國際金融公司和亞洲開發銀行等機構的融資支持下,Indorama公司一直特別積極擴張其「聚對苯二甲酸乙二醇酯」(PET)瓶到瓶回收設施。

在風險投資領域,新加坡的Circulate Capital公司在一些大型跨國零售品牌的支持下,幾年來一直在向南亞和東南亞的初創公司投入資金,這些公司正在找出塑膠垃圾的替代解決方案。例如,孟買的被投資公司Lucro Plastecycle將低價值的柔性塑膠(如捆膜)轉化為塑膠顆粒,來出售給印度的製造商。另一家投資組合公司、總部設在雅加達的Tridi Oasis,將PET瓶變成塑膠薄片,在印尼用作製造包裝和紡織品。