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.

Media enquiries:

New Smile Limited Strategic IR & PR Consultancy
Tel: +852 2126 7076
Jenny Lai [email protected]
Jenny Cheung [email protected]

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)).

The U.S Treasury Department is issuing a warning to investors that non-fungible tokens (NFTs) could be used to launder money. In a new study, the agency says that the ability to transfer NFTs instantaneously across the world using the internet makes the nascent crypto sector a prime candidate for illicit activities. “The emerging online art […]

The post U.S. Treasury Department Issues Warning, Says NFTs May Be Used for Money Laundering appeared first on The Daily Hodl.

The US Treasury sees NFTs as a potential risk for high-value art money laundering after it released a study that we read more about in today’s latest cryptocurrency news today. The Department of the Treasury suggested that the increased use of art in NFTs and other financial assets could make the high-value art traders quite […]

LONDON–(BUSINESS WIRE)–$BULT #Bullit—Bullit Technology is delighted to announce the rollout of its products on the Theta Network. Theta has been at the forefront of the new wave blockchains and is the ideal partner for us as we gradually move from a centralised system into a decentralised one. Our System Bullit is offering a public, cloud-based […]

The post Bullit Enhances Offering with Theta Network appeared first on Fintech News.

NFTs were once the red-headed stepchildren of crypto, facing skepticism and insults all around. However, the narrative has changed dramatically since the NFT Boom of 2021 and the rise of NFT marketplace giants. On a wave of success OpenSea saw off January 2022 with a record breaking monthly volume of $4.9 billion, and over 2 […]

We take you through some tips & tricks to use the AK-47 to its full potential. Whether you play CS:GO…

The post CS:GO: How to Use an AK-47 to its Full Potential appeared first on Esports News Network | ESTNN.

Crypto trading platform Paxful has announced the launch of ‘La Casa Del Bitcoin’, an educational and training center in El Salvador to enable free learning opportunities related to Bitcoin (BTC). According to the official blog post, Paxful will conduct educational workshops and training focused on Bitcoin adoption in the country. It also aims to offer merchants and local businesses tools to connect with a global community of Bitcoin users. Will Hernandez, the Director of LATAM Growth at Paxful stated that the platform saw 300% growth in El Salvador last year. He pointed that the country is undergoing a transformation where P2P platforms are fostering crypto adoption: “What we’re witnessing is a moment of transformation in El Salvador. Peer-to-peer platforms are driving adoption in emerging markets, and as a people-powered platform, we understand that education is crucial to the next wave of adoption.” Overall, the education center aims to offer education, accessibility and demonstrate the real-world benefits of Bitcoin to emerging markets. Bitcoin Knowledge Among El Salvadorans La Casa Del Bitcoin will be home to the office of the Built With Bitcoin Foundation, a U.S.-based nonprofit organization dedicated to providing clean water, access to quality education, sustainable farming, and humanitarian support powered by Bitcoin and cryptocurrencies. Commenting on the development, Yusuf Nessary, Director of Philanthropy at Built With Bitcoin Foundation, said: “We’re excited to build a home for the Built With Bitcoin Foundation in El Salvador and expand our impact. The projects that we are launching demonstrate the power of Bitcoin as a philanthropic tool to aid change and further financial freedom.” The Bitcoin education initiative comes at a time after a survey from September revealed that 90% of El Salvadoran respondents said that their understanding of Bitcoin was poor or even non-existent. Later another survey suggested that more than 50% of El Salvadorans were not familiar with Bitcoin.

The post Paxful Launches Bitcoin Educational Center in El Salvador appeared first on Cryptoknowmics-Crypto News and Media Platform.

DUBLIN–(BUSINESS WIRE)–The “Electric Commercial Vehicles – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering. Global Electric Commercial Vehicles Market to Reach 679.7 Thousand Units by the Year 2026 The global market for Electric Commercial Vehicles estimated at 185.4 Thousand Units in the year 2020, is projected to reach a revised size […]

The post Global Electric Commercial Vehicles Market Trajectory & Analytics Report 2021 – ResearchAndMarkets.com appeared first on Fintech News.

The bank’s chief sustainability officer says green tech needs investment “to become reality”.

Upon full deployment, Sphere 3D will be one of the largest carbon neutral bitcoin miners in the world. Sphere 3D enters into an agreement to acquire 60,000 next-generation NuMiner bitcoin miners operating at 440 TH/s for a total capacity of 26.4 EH/s. Sphere 3D previously contracted to purchase 60,000 ANTMINER S19j Pro miners totaling 6.0 […]

The post Sphere 3D to Grow Its Bitcoin Mining Capacity to 32 Exahash Through the Purchase of 60,000 Numiner NM440 BTC Miners appeared first on Fintech News.

There is an interesting human trait that causes people to grasp and believe any argument, no matter how asinine, when it criticises something they do not like. It is an odd bit of human nature that we see in everything that is tribal that causes a division in people, whether religion or politics or video […]

The post Is Bitcoin Mining REALLY Bad for the Environment? appeared first on Coin Bureau.

Latest episode - listen now!