ESG News Round-up

PNB to install 59 EV chargers by year-end

Permodalan Nasional Bhd (PNB), in collaboration with Gentari Sdn Bhd, will be installing 59 electric vehicle (EV) charging units, involving 18 properties under the PNB Group by year-end.

PNB chief investment officer, private and strategic Investments Rick Ramli said the EV chargers would be located in offices, hotels and resorts, golf clubs and shopping centres.

He added “This initiative is in line with the commitment to PNB’s Sustainability Framework in driving our decarbonisation efforts in our portfolio, as well as to support the EV ecosystem under the government’s Low Carbon Mobility Blueprint 2021-2030,” after the launch on 9 April. ─ Bernama

Malaysia, Indonesia lead green and sustainability sukuk issuance

Malaysia accounts for 20% of cumulative issuance of green and sustainability sukuk between 2017 and the first half of 2022, within the Southeast Asian region.

Citing a report published by the International Renewable Energy Agency in March 2023, Sustainable Fitch said Malaysia accounted for USD3.9b or 56% of total ASEAN sustainable and responsible investing (SRI) sukuk issuance as of November 2021. Malaysia is second only to Indonesia, which accounted for 27% of the issuance.

Sustainable Fitch also said Malaysia will need to invest USD375b-USD415b in in Germany. ─ ESG Today renewables and energy-transition efforts to achieve its 2050 climate goals under the 1.5° scenario. – The Edge Markets

SIMEPLT to restore 50ha peat land

Sime Darby Plantation (SIMEPLT) plans to restore a 50ha area in Bintulu, Sarawak, into a functioning rehabilitated peat ecosystem in the next two years. SIMEPLT will collaborate with Malaysian Palm Oil Green Conservation Foundation (MPOGCF), which has agreed to contribute RM1.48m to fund the project to plant and maintain suitable tree species at the Lavang estate.

Colgate plans cheaper green tubes

Colgate-Palmolive Co plans to launch a modified cheaper version of its recyclable toothpaste tube this year that uses 16% less plastic and is easier to ship. The New York-based company has been converting the roughly 9b toothpaste tubes it sells annually to a commonly recyclable plastic which helps reduce waste but is more expensive to manufacture. ─ Reuters

Google, Ørsted sign 15-year RE pact

Energy provider Ørsted has signed a 150MW renewable energy (RE) power purchase agreement (PPA) for 15 years with Google for RE generated from the Helena Wind Farm in Texas. The deal marks the first agreement with Google in the US, following a 2021 offshore wind PPA

Source: Kenanga Research - 11 Apr 2023