Global Climate News

Taiwan's Land Administration Agency clarified that building quality and the size of areas undergoing危老重建(renewal of dangerous and old buildings) are unrelated. The agency emphasized the importance of local governments' roles in enforcing construction safety regulations and supervision to prevent incidents like the recent collapse in New Taipei City. They will continue to improve construction safety management through training and review policies.

Many companies are prioritizing high-quality, sustainable office spaces with amenities, leading to increased demand and higher rents in top-tier buildings. Tenants value sustainability investments for cost savings and emission reduction. Renovations focusing on amenities, outdoor spaces, and energy-efficient systems are attracting tenants. The office market recovery is stronger in New York City and the Sun Belt than other regions. Cousins Properties recently acquired a lifestyle office property in Charlotte, North Carolina for $328.5 million.

Swedish real estate company Wallenstam, owning 66 wind turbines, is self-sufficient in renewable energy. They prioritize five UN Sustainable Development Goals, focusing on sustainable cities and communities. A stakeholder analysis showed surprisingly aligned priorities across groups, with social issues ranking highly. Individual electricity and water metering reduced consumption by 10-25%.

Nordea, a Nordic financial services group, launched a green securities financing framework to support real estate companies' green initiatives. The framework allows companies to obtain green-labeled financing for sustainable projects using their liquid assets as collateral. This complements other green financing products and contributes to Nordea's own green bond asset pool, aligning with its net-zero emissions target by 2050.

Global sustainable bond market showed strong growth in 2021, exceeding expectations. Despite market volatility in 2022 due to geopolitical factors, sustainable bonds outperformed traditional counterparts. The share of sustainable bonds issued increased from 9% to 12%. In Q1 2022, Sweden remained the most active Nordic market, followed by Denmark and Finland. The Kingdom of Denmark issued its first sovereign green bond (DKK 5 billion, 10-year maturity), focused on renewable energy and green transportation. Sustainability-linked bonds showed the fastest growth (136% increase compared to Q1 2021), with new sectors like real estate (Atrium Ljungberg) and municipalities (Helsingborg) participating.

UK housing providers invested £8.8bn on repairs and maintenance, including energy efficiency measures, and £15bn on development, delivering 54,000 new social homes. However, high investment impacted cash reserves, decreasing to £5.5bn. Projected spend on repairs and maintenance is £10bn annually for the next five years.

Taiwan's Environmental Protection Administration (EPA) has announced plans to expand greenhouse gas emission monitoring and registration to approximately 500 more companies, including those in service, transport, medical, and manufacturing sectors. The EPA aims to improve emission data accuracy for future emission reduction strategies. This expansion will not require additional fees or external consultants; the EPA will provide support through a new online platform and training.

Japan-based ENECHANGE Corporation installed 20 EV chargers at 5 Royal Home Centers across Japan. The government aims for 100% electric vehicle sales by 2035 and 20-30% EV/PHEV sales by 2030. ENECHANGE offers a free app for charging and payment, and a monthly plan for frequent users.

Nordea's analysis of 210 Nordic-listed companies reveals a 6% average turnover alignment with EU Taxonomy (market cap weighted), increasing to 7.6% with equal weighting. Only 40% showed any alignment, averaging 18.7% (or 19.2% equally weighted). Capex alignment was higher, reaching 8.2% (both weighting methods), and 21% (or 23% market cap weighted) among companies with some alignment. Average turnover eligibility was 24.6% and capex eligibility was 50% in 2022.

Nordea, a financial institution, reported progress towards its emission reduction targets. Financed emissions in the lending book are down 19% since 2019, with large corporates showing a 36% decrease. They facilitated €58 billion in sustainable financing in 2022 and aim for over €200 billion by 2025. Over half of large corporates in climate-vulnerable sectors have emission reduction targets. Nordea Life & Pension reduced its carbon footprint by 28% by the end of 2022, exceeding its target. 75% of Nordea Asset Management’s top 200 high-emission companies are aligned with the Paris Agreement or actively engaged to align.

Czech Statistical Office's headquarters in Prague underwent a significant renovation. The project, costing over 250 million CZK (two-thirds EU-funded), included facade replacement, heating/ventilation upgrades, and energy-saving technologies resulting in at least 30% energy reduction. Waste heat from the office's computing center is used for water heating and building heating via heat pumps. 426 photovoltaic panels were installed, generating nearly 168,000 kWh annually.

Norwegian grocery chain Rema 1000 unveiled a concept store aiming to reduce energy consumption by up to 50%, built using sustainable materials, with solar cells and recycled rock wool. Stockholm-based Lifv transports wooden containers to remote locations as unmanned stores. In Copenhagen, Mond added a 3D body scanner to its store, connecting in-store and online experiences. Swedish pharmacy Apopket used local stores as mini-warehouses to fulfill online demand. PostNord, ICA, and Glue piloted an in-fridge delivery service.

The Plzeňský kraj (Pilsen Region) in Czechia has published a report on demographic, social, and economic development in 2023, including a section on environmental factors such as emissions, waste, and protected areas.

Norwegian startup Carrot (formerly WasteIQ) has developed technology solutions to help renovation companies, shopping centers, and housing associations manage waste sustainably and profitably, contributing to a circular economy.

Bursa Malaysia Securities Berhad updated the sector and sub-sector classification for three companies: ENRA GROUP BERHAD (energy), OASIS HARVEST CORPORATION BERHAD (consumer products & services), and VERSATILE CREATIVE BERHAD (consumer products & services). The changes, effective January 13, 2025, reflect changes in the companies’ business activities and their core business contributions to financial results.

The UK awarded £7.7 million to three organizations for whole-house retrofit projects, aiming to reduce retrofitting costs by 5-20% and improve energy performance. More than 300 houses will be retrofitted.

The Brazilian Government has allocated over R$ 100 billion to reconstruct Rio Grande do Sul after severe flooding in 2024. This includes 11,500 new housing units, special Minha Casa, Minha Vida programs, and R$ 6.5 billion for drainage and dike repairs. The government also established a Casa de Governo to coordinate reconstruction efforts across various sectors.

France has highlighted the importance of thermal renovations in housing to reduce energy consumption and greenhouse gas emissions in the residential sector. This approach also aims to assist vulnerable households by targeting energy renovation aid effectively.

Hong Kong-based i2Cool applied its electricity-free cooling paint to 9,700 square meters of the Hong Kong Coliseum's rooftop and side walls, resulting in a 24°C average surface temperature reduction in summer and an estimated annual electricity saving of 300,000 kWh, equivalent to a 150-ton carbon emission reduction. This aligns with Hong Kong's 2050 carbon neutrality goals and was supported by the Environment and Ecology Bureau and the Architectural Services Department.

The Indian government, under Prime Minister Narendra Modi, has implemented various urban development initiatives. These include the PM Surya Ghar Yojana for sustainable solar energy, Swachh Bharat Abhiyan for cleanliness, and the Urban Waste Management Policy. Additionally, ₹68,000 crores have been invested in Delhi's infrastructure projects over the last 10 years, encompassing road development, railway projects, airport improvements, and expressways.