By Sasha Grutman, Demetris Papademetriou, and Rishabh Madhok The current surge in ESG (“Environmental, Social, and Governance”) investing has influenced a material shift in the Financial Services sector. Whether it’s the billions of Dollars being invested in green and sustainable instruments, serious institutional efforts to address ESG as a risk factor in lending and investing, […]

The post ESG and Fintechs: Technology enables impact goals appeared first on Fintech News.

HONG KONG, Feb 7, 2022 - (ACN Newswire) - Synergy Group Holdings International Limited, stock code 1539.HK ("Synergy Group" or "The Group")(1) has successfully acquired verification statements of Greenhouse Gas (GHG) emissions granted by CMA Testing and Certification Laboratories under CMA Industrial Development Foundation Limited (CMA Testing(2)). The Group's projects were quantified to achieve emission by a total of 7,146.74 tonnes of CO2e (Carbon Dioxide Equivalent)(3). The GHG emission inventories have been verified in accordance with ISO14064-3:2019(4) as meeting the requirement of ISO14064-1:2018(4).

The Group Chairman and Chief Executive Officer Mr. Mansfield Wong commented, "It is a global uphill battle when it comes to reaching carbon neutral targets. Our goal is to reduce GHG emissions and strive to achieve carbon neutrality in the near future. The Group is actively formulating a commercial scheme to assist other companies in neutralizing their GHG emissions."

As of today, the Group has verified 7,146.74 tonnes of CO2e in total, which is estimated to be accounted for approximately 1% of the Group's total GHG emission inventory, the remaining inventories are being certified. Current carbon credit prices(5) are quoted by different international Carbon Credit Exchanges(5) ranging from RMB56 to EUR89 per tonne. The Group expects the global carbon credit prices(5)and market-based emission trading schemes continued to grow gradually as we are approaching the targets of Hong Kong's Climate Action Plan 2050(6), China's Carbon Dioxide Peaking 2030(7) and Carbon Neutrality 2060(7). Driving GHG emission is imminent action to curb global warming effects, the Group has set out its priorities for investing in carbon markets. The Group is committed to creating environmental sustainability through its experienced GHG emission management and green technological innovations.

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Notes to editors:

1. Synergy Group Holdings International Limited ("Synergy Group" or "The Group")

Founded in 2008, Synergy Group Holdings International Limited (Stock code: 1539.HK), as the first Energy Service Company (ESCO) to be listed on the Hong Kong Stock Exchange, is one of the leading integrated energy saving and management solutions providers based in Hong Kong. The Group together with its subsidiaries, is principally engaged in design and customisation, investment, installation and commissioning, operation and maintenance of (i) energy efficiency technology; (ii) renewable energy; and (iii) energy storage and distributed energy resources. Serving clients in over 20 countries, businesses cover large multi-million projects in Malaysia, Indonesia and South Africa.

2. CMA Testing

Established since 1979, CMA Testing, a subsidiary of The Chinese Manufacturers' Association of Hong Kong, is a large-scale quality assurance center, specializes in testing, inspection and certification services. CMA Testing is also a third-party laboratory accredited by The Hong Kong Laboratory Accreditation Scheme (HOKLAS) and an inspection body accredited by The Hong Kong Inspection Agency Accreditation Scheme (HKIAS). CMA Testing's global footprint spans over 12 countries in Asia, Middle East, Europe and North America.

3. Carbon Dioxide Equivalent (CO2e)

CO2 refers to Carbon Dioxide, while CO2e stands for "Carbon Dioxide Equivalent" which includes CO2 and other greenhouse gases. For any quantity and type of greenhouse gas, CO2e signifies the amount of CO2 which would have the equivalent global warming impact.

4. ISO14064 Greenhouse Gas Calculation and Verification Management System

ISO14064-1: Specification with guidance at the organization level for quantification and reporting of greenhouse gas emissions and removals
ISO14064-2: Specification with guidance at the project level for quantification, monitoring and reporting of greenhouse gas emission reductions or removal enhancements
ISO14064-3: Specification with guidance for the verification and validation of greenhouse gas statements

5. Carbon Credit Price Index

While Hong Kong is still exploring the feasibility to have a platform for carbon trading exchange, the Company has made references to other international exchange platform or publicly available sources for the current market prices:

As of Country/Region Product(Quote) Individual exchange/ publicly available sources for reference:
27/1/2021 China CEA(RMB56.00 per tonne) Exchange: Shanghai Environmental and Energy Exchange https://www.cneeex.com/c/2022-01-27/491999.shtml

27/1/2022 Europe EUA Futures - Jan 22(EUR89.00 per contract) Exchange: Intercontinental Exchange https://www.theice.com/products/197/EUA-Futures/data?marketId=6817108

27/1/2022 California, US CBL California Carbon Allowance Vintage-Specific 2021 Feb 22(USD29.59 per contract) Exchange: New York Mercantile Exchange
https://tinyurl.com/2p97hrrf

30/9/2021 Australia Australian Carbon Credit Units(AUD26.50 per certificate) Source: Clean Energy Regulator, Australian Government
https://tinyurl.com/bddbrmyv

6. Hong Kong's Climate Action Plan 2050

The Government today (October 8) announced Hong Kong's Climate Action Plan 2050, setting out the vision of "Zero-carbon Emissions.Liveable City.Sustainable Development", and outlining the strategies and targets for combating climate change and achieving carbon neutrality.
< https://www.info.gov.hk/gia/general/202110/08/P2021100800588.htm?fontSize=1 >

7. China's Carbon Dioxide Peaking 2030 and Carbon Neutrality 2060

The Communist Party of China Central Committee and the State Council on Oct 24 jointly released a document titled: Full Text: Working Guidance For Carbon Dioxide Peaking And Carbon Neutrality In Full And Faithful Implementation Of The New Development Philosophy ( www.gov.cn )
< https://tinyurl.com/yc59ycnb >


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSynergy Group Holdings International Limited, stock code 1539.HK ("Synergy Group" or "The Group")(1) has successfully acquired verification statements of Greenhouse Gas (GHG) emissions granted by CMA Testing and Certification Laboratories under CMA Industrial Development Foundation Limited (CMA Testing(2)).

ABC’s Shark Tank star, Kevin O’Leary, has sounded a warning that environmental, social, and governance (ESG) reporting is going to shake up the Bitcoin mining industry. While many key players are currently focused on Bitcoin’s price performance, O’Leary is more concerned about the dangers that the Bitcoin mining industry can pose for the market. O’Leary

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KlimaDAO, a cryptocurrency group focused on climate activism, is shaking up the carbon credit market by accumulating over 14 million on-chain carbon offsets. The decentralized autonomous organization now owns the majority of the 17 million BCTs and is spending $100 million on offsets. The project’s native KLIMA token is backed by at least 1 ton of Base Carbon Tonnes (BCT) credits by Toucan Protocol and the latest addition of the MCO2 tokens by Moss, which were first added to the treasury on Jan. 6. The value of the Klima token is determined by the valuation of the Klima treasury and is, therefore, dependent on the value of the BCT and the latest MCO2 token. In fact, the protocol’s rapid acquisition of carbon offsets has caught the attention of traditional carbon offset firms like Gold Standard, the Wall Street Journal reported. CEO Margaret Kim even criticized that the anonymous team behind the project poses transparency issues. “We are also concerned about the fact that the founders are anonymous, which runs contrary to the need for transparency in climate action generally and carbon markets more specifically,” said Margaret Kim. KlimaDao Responds to Its Carbon Credit Responding to a crypto media publication, the team clarified, “There are ways to provide assurances without being doxxed.” Being doxxed refers to revealing an anonymous individual’s true identity. They even argued that traditional firms like Gold Standard “may need more regulatory clarity into how a DAO works legally” to understand their potential for tremendous growth. In fact, anon founder Archimedes also addressed the issue of anonymity and trust on the Jan. 10 episode of the Planet of the Klimates: “Are we ever going to be at a point where we have to reveal who we are? At some point, maybe, Klima becomes so powerful that world governments demand to know who we are.” Klima DAO is a group of environmentalists, developers, and entrepreneurs that utilizes blockchain technology to accelerate the appreciation of carbon credits. The group launched the KLIMA token, a cryptocurrency whose value is linked to carbon credits on October 18.

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-- SDG Exchange (https://sdgexchange.io/), the first-of-its-kind, global exchange platform for carbon credits and other SDG assets, today announced that its exchange and marketplace infrastructure platform is now live. 

SDG Exchange was founded to fully enable efficient, transparent and trusted global marketplaces for carbon offsets pursuant to Article 6 of the Paris Agreement.   All assets listed on SDG Exchange platforms are compliant with Paris Agreement Article 6, fully verified by independent third-party auditing and meet the most rigorous standards, including ISO 14064-3.  

Carbon credits entering SDGx's Carbon Asset Monetization (CAM) marketplace are registered on blockchain, eliminating current carbon market inefficiencies including double counting, double printing, double spending, and emerging double retirement.  All transactions, custodianship, accounting and retirement are public record via immutable distributed ledger.  Carbon credits can remain as a credit, or be transferred into a digital Internationally Transferred Mitigation Outcomes (ITMO) unit, allowing the transfer of carbon credits between countries and marketplaces globally.  Pursuant to Article 6, one ITMO equals one metric ton of carbon dioxide equivalent.  Asset transactions are fulfilled via Fiat, Bitcoin or Ethereum.

Embedded video link here:  https://drive.google.com/file/d/1dINtSkWUqdPrYnPkZbJr_UsUGL6Rq8DL/view?usp=sharing 

SDGx delivers turnkey SDG market infrastructure for countries that require offset markets and offset solutions to meet Paris Agreement commitments (Nationally Determined Outcomes or NDCs).   As well, SDGx provides trading and custodial solutions for enterprises to meet requirements of the Task Force on Climate-related Financial Disclosures (TCFD).  SDGx also offers an independent exchange capable of transacting in and across every market, including delivering global offset price normalization.

SDGx initial carbon credit supply are high quality regenerative agriculture carbon offset projects, fully meeting the stringent requirements of ISO 14064, and actively reduce carbon dioxide from the atmosphere (i.e. drawdown).  

“SDGx's platform delivers market infrastructure with transparency, trust, accountability, efficiency and global price normalization, which is exactly what countries and large private sector players need for global carbon offset markets to reach the scale and volume required to mitigate climate change.  We look forward to being a trusted marketplace enabler.”

Article 6 of the Paris Agreement calls for a robust global marketplace for trading carbon offsets as one of the primary tools to address climate change.  Five years later, a global consensus on market standards remains elusive. The SDGx platform is a major step forward in market standard execution.

The SDG Exchange platform has been in development for four years and is backed by a number of blockchain angel investors, including Michael Terpin (Transform Group), Nikolai Mushegian (MakerDAO), and Brock Pierce (Tether).

For more information on the SDG Exchange, please visit https://sdgexchange.io.

About SDG Exchange

SDG Exchange is the first-of-its-kind, global exchange platform enabling Article 6 of the Paris Agreement.. It seamlessly integrates all carbon markets globally, allowing for quick, safe, and profitable trading of these assets. The SDG Exchange platform uses blockchain technology to track carbon, facilitate trading, and verify compliance, providing a long-term solution for the $300B sustainability marketplace. For more information, please visit https://sdgexchange.io.

Sales Contact: https://sdgexchange.io/#contact