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MOSCOW, RUSSIA - Media OutReach Newswire - 13 November 2024 - SIBUR, Russia's largest producer of polymers and rubber, participated in the business programme at the UN's Climate Change Conference (COP29), which is taking place in Azerbaijan, where it shared its experience in incorporating high-tech solutions, implementing climate projects and trading carbon credits, dealing with ecosystem risks and developing a circular economy. During a discussion at Russia's COP29 pavilion, SIBUR representatives highlighted that in 2019 the company was one of the first in Russia to adopt a sustainability strategy. The company is on track to meet the targets set out in the strategy through the end of 2024. Notably, it has reduced greenhouse gas emissions by 5% in the Gas Processing segment and by 15% in the Petrochemicals segment ahead of schedule. In addition, the company plans to transition to 100% renewable energy at its SIBUR-PETF production site, making the facility carbon-neutral by 2025. To date, the company has completed eight climate initiatives at its plants, resulting in a total reduction of 10.8 million tonnes of CO₂-equivalent emissions over the last decade and generating over 3.3 million verified carbon credits that are available for trading in both Russian and international markets. SIBUR has already completed no fewer than 15 carbon credit transactions, enabling its customers and partners to reduce or fully offset the carbon footprint of their operations, products or events. One source of SIBUR's carbon credits stems from forestry-based climate initiatives. For example, the company completed a large-scale programme this year to plant 5 million trees to capture CO2 in its regions of operations. Future initiatives under consideration include the re-watering of bogs at former peat extraction sites in order to prevent forest fires and restore wetlands, which are natural CO2 sinks. SIBUR also plans to offset the Russian delegation's COP29 carbon footprint, making it the first carbon-neutral delegation in the conference's history. The offset will be achieved using carbon credits generated from a climate initiative aimed at improving energy efficiency at SIBUR-Neftekhim. The credits will be debited from the company's account in the Russian Carbon Units Registry. The carbon footprint will be calculated by Kept, and TÜV AUSTRIA Standards & Compliance will verify the carbon-neutrality statement. Hashtag: #SIBURThe issuer is solely responsible for the content of this announcement.
Inaugural Process Innovation Asia Pacific builds on global process industry's premier showcase ACHEMA's legacy and expertise, convening global industry leaders to drive sustainable growth for Asia's process industries. SINGAPORE, Nov. 12, 2024 /PRNewswire/ -- South-East Asia will now have its first dedicated Process Technology show with the launch of Process Innovation Asia Pacific - Powered by ACHEMA (PIA). Organised by Constellar, with International Partner DECHEMA Ausstellungs-GmbH (DECHEMA Exhibitions)[1], its inaugural edition will be held from 19 to 21 November 2024 at Singapore EXPO. With Singapore as the region's hub for innovation, technology exchange, and a gateway to the thriving Asia-Pacific market, PIA 2024 will play a pivotal role in driving transformation, catalysing innovation and promoting sustainable growth for a greener future across the region's (petro-)chemical, pharmaceutical, biotechnology, and food processing industries. With the theme 'Inspiring Sustainable Growth,' PIA 2024 will equip the process industry with actionable insights, technologies, and best practices that address unique regional challenges while fostering collaboration among industry leaders, solution providers, and regulators. To achieve this, PIA 2024 will focus on three key content pillars designed to build industry and enterprise capabilities for market resilience and adaptability: 1) Industrial Growth and Sustainable Development in Asia; 2) Digital Advancements and Innovations; and 3) Sustainability and Green Practices, which will enable the industries to be given a boost to evolve into higher value-added sectors. Industry-Curated Content Driving Meaningful Engagement Inspired by the success of ACHEMA and AchemAsia in curating ground-up content that brings together experts to address advancements and challenges in the process industries, PIA 2024 has developed the Process Innovation Summit. The Summit aims to facilitate insightful dialogue and solutions-driven discussions tailored to Asia's unique industry needs and future growth. A three-day conference programme anchored by over 40 industry experts and practitioners across 50+ sessions, the Summit is designed and curated with guidance from PIA's advisory committee, and is based on consultative industry feedback so that a tailored process technology platform could be designed for the region. The sessions seek to spotlight the latest technological advancements and meet the increasing needs of companies looking to strengthen their foothold in the expanding Asia-Pacific market. The committee consists of leading process technology experts, key industry playersand practitioners from Association of Process Industry (ASPRI), Agency for Science, Technology and Research (A*STAR), specialty chemicals giant Evonik, Hydrogen and Fuel Cell Association of Singapore (HFCAS), Indonesian Food and Beverage Association (GAPPMI), Institute of Engineers Singapore and the Singapore Chemical Industry Council (SCIC). - Day 1 will begin with a macroscopic view of the latest insights into global, regional and country-specific policy developments, national initiatives and trends driving transformation for process industries. Sessions will also focus on how the process industry can adopt sustainable practices and reduce the environmental impact of manufacturing processes, as well as future opportunities and strategies for regional collaboration to enhance industry resilience. Speakers include C-suite professionals from World Business Council, Alliance to End Plastic Waste, as well as key government officials from the ASEAN Centre for Energy, A*STAR, Indonesia's Ministry of Industry, Malaysian Investment Development Authority, and the Thai Chamber of Commerce and Board of Trade of Thailand. These include: Mr Joe Phelan, Executive Director Asia Pacific & Member of the WBCSD Extended Leadership Group, World Business Council Mr Justin Wood, Vice President and Head of Europe, Middle East & Africa, Alliance to End Plastic Waste - Days 2 and 3 then delves into two concurrent tracks – pharmaceutical and biotechnology – to explore trending topics and issues, as well as new developments and technologies driving business growth in the region. Topics include operational efficiencies for pharmaceutical manufacturing, industrial biotechnology to manufacture food, acceleration of alternative proteins production, sustainable transformation for specialty chemicals industries, workplace safety optimisation in chemical manufacturing and more. Key speakers include: Mr Alex Bower, Global Head Marketing and Sales Hydrogen, Gentari (Petronas) Dr. Anthony Watanabe, Chief Sustainability Officer, Indorama Ventures, Thailand Dr. Claus Rettig, President Asia, Evonik, Singapore Dr. Kamel Ramdani, CTO, PTT Global Chemical, Thailand Mr Marcelo Lu, President Asia Pacific, BASF, Germany Mr Minh Tran, Global Head of Bio4C Commercial, Merck, Singapore Mr Rajesh Krishnamurthy, Chief Executive Officer, Laurus Bio Mr Tine Rorvik, Global Director Climate Impact & Circularity; Innovation Director Europe; CEO SCGN, SCG Group(see here for full speaker list) "I expect the ASEAN economies to continue growing attractively and to become more deeply integrated into global value and supply chains. The region is open and export-oriented because of its free trade policies with both China and the US," said Mr Marcelo Lu, who will be speaking on the chemical industry's challenges, demand drivers and participating in a panel discussion with other experts to share further insights into the future of South-East Asia's chemical industry. "BASF has a good presence in ASEAN and aims to capitalize on the region's dynamic economic growth, diverse markets, and increasing demand for sustainable solutions," Mr Lu added. Complementing the Summit are two Technical Workshops by the SCIC, to address critical safety and cybersecurity challenges in the chemical industry. Key topics include compliance to the Code of Practice for handling combustible dust and relevant legislative requirements, as well as best cybersecurity practices and the Cyber Trust Mark. A Comprehensive Showcase of Global Innovative Solutions PIA 2024 will host 100 participating brands from 20 countries and regions, showcasing cutting-edge innovations and solutions designed to optimise performance, reduce carbon emissions, and enhance sustainability in the process industries. These solutions span across five broad categories: Process Technology; Engineering & Green Technology; Automation & Digitalisation; Packaging, Storage & Supply Chain; Laboratory, Quality Control & Analytics. Participating countries and regions include Australia, Belgium, China, Germany, India, Italy, Japan, Malaysia, Singapore, Spain, Switzerland, United Kingdom, and the United States of America. Attendees will be able to network and explore latest solutions from leading brands and established industry players such as Beijing Hanlin Hangyu International Trading Co, Bruker, Brady Corporation, BÜCHI, Calgavin, Changzhou Smart-Lifesciences Biotechnology Co, CDI (Chemical Data Intelligence), Cyclect Engineering, Evonik, Robert Bosch (SEA), and more. (See Annex A for more exhibitor highlights.) Showcased solutions include BÜCHI's ProxiMate NIR Analyzer for rapid, accurate sample analysis and enhanced quality control using Near-Infrared (NIR) spectroscopy; Evonik's Next Generation Solutions for reducing greenhouse gas emissions; Robert Bosch (SEA)'s Optical Gas Spectrometer for detecting multiple gases in hydrogen and natural gas applications; and Watson-Marlow's Fluid Technology Solutions for precise, efficient and contamination-free fluid management across industries. On top of the extensive showcases at the booths, attendees can observe in-depth demonstrations at the Open Stage, where companies such as Aleph Digital Technologies, art photonics GmbH, HIMA Asia Pacific, I-Care Group, Piller SEA, Practical Analyzer Solutions, TECAM Group and Wasson-ECE South-East Asia will be conducting detailed sharings. These include the use of AI Co-Pilot in automating process manufacturing optimisation workflows, extended refinery gas analysis, future of predictive maintenance, IOT-enabled process analysers, robust fibre optic solutions for optical analysis, waste gas treatment, waste heat vapor/steam recovery to reduce environmental impact amongst other benefits and more. Register to visit here. Access latest updates and information on Process Innovation Asia Pacific - Powered by ACHEMA here. *** About Process Innovation Asia-Pacific - Powered by ACHEMA (PIA) As South-East Asia's First Dedicated Process Technology Trade Event, PIA's key government partners include Agency for Science, Technology and Research (A*STAR), EnterpriseSG, JTC Corporation and Singapore Tourism Board. PIA is honoured to have the support from regional associations in Indonesia, Malaysia, Singapore and Thailand. These include Indonesian Food & Beverage Association (GAPMMI) and Federation Of The Indonesian Chemical Industry (FIKI) in Indonesia; Chemical Industries Council of Malaysia (CICM) and Malaysian Society for Engineering and Technology (MySET) in Malaysia; Association of Process Industries (ASPRI), Hydrogen and Fuel Cell Association of Singapore, Institute of Engineers Singapore (IES), Singapore Chemical Industry Council (SCIC) and Singapore Manufacturing Federation (SMF) in Singapore; as well as the Federation of Thai Industries (FTI), Plastic Institute Thailand, Thai Biotechnology Industry Association (ThaiBio) and Thai Food Processors Association (TFPA) in Thailand. About Constellar Constellar is Asia's preferred partner for convening businesses, curating ideas and creating opportunities for sustainable business growth and global impact. Based in Singapore with a regional footprint in China and Malaysia, we curate and develop influential trade and consumer events for key industries, connecting global marketplaces in sectors such as fintech, industrial transformation and ESG. We also manage the Singapore EXPO, Singapore's largest purpose-built venue for Meetings, Incentives, Conventions and Exhibitions (MICE). Our vision is to be a global leader made in Asia, activating impactful networks to enable cross-industry collaboration and innovation through our holistic portfolio of intellectual properties in the MICE industry. Visit constellar.co for more information. About DECHEMA DECHEMA Gesellschaft für Chemische Technik und Biotechnologie e.V. (Society for Chemical Engineering and Biotechnology) brings together experts from a wide range of disciplines, institutions and generations to stimulate scientific exchange in chemical engineering, process engineering and biotechnology. We identify and evaluate emerging technological trends and facilitate the transfer of research results into industrial applications. DECHEMA has over 5,500 members - individuals, institutions and companies. DECHEMA Ausstellungs-GmbH (DECHEMA Exhibitons) draws on the technical and organizational expertise of DECHEMA for the organization of capital goods fairs. Together with DECHEMA Gesellschaft für Chemische Technik und Biotechnologie e.V., we are the organizers of ACHEMA and AchemAsia. About ACHEMA ACHEMA is the world forum for chemical engineering, process engineering and biotechnology. The world's leading show for the process industry takes place every three years in Frankfurt. The spectrum ranges from laboratory equipment, pumps and analytical devices to packaging machinery, boilers and stirrers to safety technology, materials and software, thus covering all the needs of the chemical, pharmaceutical and food production industries. The accompanying congress, featuring scientific lectures and numerous guest and partner events, complements the wide range of exhibition themes. More at www.achema.de/en ANNEX A: Exhibitors' Highlights (Non-Exhaustive. See full list here.) [1] DECHEMA Exhibitions is the organiser for ACHEMA and AchemAsia, leading global forums for chemical engineering and process industries that showcase advancements in technology, innovation, and sustainable practices, held in Frankfurt (Germany) and Shanghai (China) respectively.
AMSTERDAM, Nov. 12, 2024 /PRNewswire/ -- OCI Global reports Q3 2024 trading update. Hassan Badrawi, CEO of OCI Global: "During the course of the third quarter and the quarter to date, OCI has achieved significant milestones in its strategic transformation. We announced the sale of OCI Methanol to Methanex for a consideration of USD 2.05 billion, and successively closed the sales of IFCo to Koch Industries for USD 3.6 billion, Fertiglobe to ADNOC for USD 3.62 billion, and Clean Ammonia to Woodside for USD 2.35 billion. These are remarkable achievements for the OCI team, further demonstrating our execution capabilities and our commitment to OCI's strategic roadmap for value creation. We believe these transactions provide highly valuable liquidity for significant capital returns to shareholders as a priority, alongside future investment capacity. Following these milestones, OCI will pay an interim extraordinary distribution of EUR 14.50 per share in aggregate (~USD 3.3 billion) on 14 November 2024 to shareholders of record as of the close of business on 29 October 2024. The distribution will be made as a repayment of capital or, at the election of the shareholder, as a payment from the profit reserve. This brings total distributions to OCI shareholders in the past four years to USD 5.4 billion. Looking back at our history as a listed vehicle since 1999, OCI has returned more than USD 20 billion to its shareholders via buybacks, share and cash distributions, representing an IRR of approximately 40%. We will continue to build upon this track record and seek to deliver sustainable value creation for our shareholders, partners and employees. OCI expects to make an estimated further extraordinary distribution of approximately USD 1 billion through a repayment of capital during H1 2025. This will be subject to continued progress on the execution of the announced transactions and the strategic review. Finally, we were deeply impacted by the tragic incident in early October at the Beaumont Clean Ammonia site, which resulted in the death of a subcontractor. The safety and well-being of all employees and contractor employees is of paramount importance to OCI, and we are cooperating fully with the local authorities to investigate and understand the circumstances regarding the incident. Our thoughts and deepest condolences remain with our colleague's family, friends, and local communities." Key Financial Highlights Continuing Operations Adjusted EBITDA for Q3 2024, which now solely includes European Nitrogen and Corporate Entities, showed a similar small loss to Q3 2023: Notwithstanding improved sales volumes, margins at European Nitrogen were negatively impacted by higher natural gas pricing, higher EUA provisions and other costs. The weaker comparative performance within European Nitrogen was partially offset by lower Group costs and eliminations. Given the recent divestments, the current corporate cost base of Continuing Operations does not yet fully reflect the reduced scope and scale of OCIs continuing business. OCI continues to make substantial progress in right-sizing its corporate cost base to better serve the current structure and scale of the business. OCI expects to beat its previously guided target of USD 30 - 40 million of run-rate corporate costs by 2025. Within Discontinued Operations, adjusted EBITDA for OCI's Methanol business showed a marked improvement year-on-year reflecting increased methanol and ammonia prices, reduced natural gas costs, and robust operational performance. Net cash from Continuing Operations stood at USD 1,855 million as of 30 September 2024 compared to a net debt position of USD 2,194 million as of 30 June 2024[1]. The end-Q3 net cash position precedes closing of the Fertiglobe transaction and payment of the announced EUR 14.50 extraordinary distribution. Key Strategic and Business Highlights Effective 15 October 2024, Mr. Hassan Badrawi was appointed Chief Executive Officer (CEO) of OCI, previously OCI's Chief Financial Officer (CFO) and a 23-year OCI veteran. Mr. Beshoy Guirguis assumed the role of CFO of OCI, formerly OCI's Vice President of Global Growth and Transformation, and CFO of OCI US Nitrogen, after joining OCI in 2010. Concurrently, Mr. Ahmed El-Hoshy stepped down as CEO of OCI and continues in his full-time role as CEO of Fertiglobe. In September 2024, OCI announced that it had entered into a binding equity purchase agreement for the sale of 100% of the equity interests in its global methanol business ("OCI Methanol") to Methanex Corporation ("Methanex") for a purchase price consideration of USD 2.05 billion on a cash-free debt-free basis. The transaction is expected to close in H1 2025. Following the announcement of the sale of OCI Methanol, OCI repurchased its 11% and 4% minority stakes in OCI Methanol from Alpha Dhabi Holding PJSC and ADQ, respectively. On 5 August 2024, OCI entered into a binding equity purchase agreement for the sale of 100% of its equity interest in the Clean Ammonia project currently under construction in Beaumont, Texas ("OCI Clean Ammonia" or the "Project") to Woodside Energy Group Ltd ("Woodside") for a purchase price consideration of USD 2.35 billion on a cash-free debt-free basis, following a competitive process. On 30 September 2024, OCI announced the successful closing of the transaction with the receipt of 80% of the proceeds or approximately USD 1,880 million plus a USD 20 million adjustment for certain pre-paid expenses, and a deferred consideration of 20% or approximately USD 470 million to be received at Project Completion[2], expected in H2 2025. OCI will continue to manage the construction, commissioning, and start-up of the facility through Project Completion and has a financial obligation to pay for the remaining capital expenditure and costs to Project Completion. Construction is well advanced today with USD 799 million cash spent as of 30 September 2024 (including both historical capital expenditure and certain pre-operating expenses). OCI expects a total investment cost through Project Completion of approximately USD 1.55 billion, including contingencies. On 29 August 2024, OCI announced the successful completion of the sale of 100% of its equity interests in Iowa Fertilizer Company LLC ("IFCo") to Koch Ag & Energy Solutions ("KAES"). The transaction was valued at USD 3.6 billion on a cash-free debt-free basis and followed a competitive process. Net proceeds received by OCI amounted to approximately USD 2.6 billion, after adjusting for bond defeasance, mark to market on outstanding hedges, and other transaction related costs.| On 15 October 2024, OCI announced the successful completion of the divestment of its majority stake in Fertiglobe to Abu Dhabi National Oil Company P.J.S.C. ("ADNOC"). The gross transaction consideration of USD 3.62 billion on a cash-free debt-free basis was impacted by USD 70 million in various closing adjustments and is further subject to any materialization of certain indemnifications agreed as part of the transaction that will only become quantifiable in due course. The expected cumulative crystallization of approximately USD 11.6 billion of gross transaction proceeds from four transactions affords OCI significant flexibility to deliver on its capital allocation priorities, including deleveraging at a gross level as well as returning a meaningful quantum of capital to shareholders: All OCI NV bank debt has now been repaid, including the revolving credit facility and bridge facility utilized during the transition period. Total debt repayment in Q3 2024 amounted to USD 1,019 million. The USD 698 million 2025 Senior Secured Notes were redeemed at par on 15 October. Remaining cash proceeds have been invested whilst OCI NV currently retains gross debt of USD 600 million in the form of its 2033 bonds, which may provide optionality and strategic flexibility as part of a longer-term future capital structure, to be decided. Following the successful completion of the Fertiglobe and IFCo transactions, OCI will pay an interim extraordinary distribution of EUR 14.50 per share in aggregate (~USD 3.3 billion) on 14 November 2024 to shareholders of record as of the close of business on 29 October 2024. The distribution will be made as a repayment of capital or, at the election of the shareholder, as a payment from the profit reserve. OCI expects to make an estimated further extraordinary distribution of approximately USD 1 billion through a repayment of capital during H1 2025. This will be subject to continued progress on the execution of the announced transactions and the strategic review. With regards OCI's strategic review, the Company is actively engaged in the evaluation of strategic alternatives for its continuing businesses. Any future decisions will be made in the best interests of all shareholders. Continuing and Discontinued Operational Highlights Further to the announcement of the expected divestiture of OCI's equity holdings in OCI Methanol, this segment is now classified as Discontinued Operations. Discontinued Operations for the third quarter of 2024 also include results for IFCo, Fertiglobe and OCI Clean Ammonia for the period preceding the closing of the respective transactions. Continuing Operations as presented in this trading update reflects costs associated with the Corporate Entities and the operational performance of the European Nitrogen segment. European Nitrogen Own-produced sales were 499 thousand tonnes during the third quarter of 2024, representing a 37% increase over the same period last year and a 14% decline quarter-on-quarter. The year-on-year increase reflects higher ammonia and nitrate volumes in the period, as well as an increase in sales of premium industrial nitrogen products, melamine and diesel-exhaust fluid (DEF). Whilst benchmark prices for nitrates were lower in Q3 2024 compared to Q3 2023, they showed a sequential improvement quarter-on-quarter. Despite improved sales performance year-over-year, adjusted EBITDA decreased compared to the same period last year due to higher European natural gas prices, lower product pricing, increased provisions for European emissions allowances, and other costs. The rise in other costs is attributed to higher labor costs and one-off drivers such as elevated maintenance expenses. In August 2024, Chivas Brothers, the Pernod Ricard business dedicated to Scotch whisky and makers of Chivas Regal and Ballantine's, along with its distilling wheat supplier, Simpsons Malt Limited, announced investment in Nutramon® Low Carbon, a low-carbon CAN fertilizer created by OCI. A select number of farmers in the Chivas Brothers Wheat Growers Group are currently trialing Nutramon® Low Carbon, as part of an exclusive agreement. ISCC PLUS certified Nutramon® Low Carbon is produced using certified biogas and is estimated to have a reduced production carbon footprint of up to 50% compared to conventionally produced fertilizers (cradle-to-gate). Through its low-carbon portfolio, OCI aims to reduce the carbon footprint of the global food production chain. OCI Methanol Own-produced methanol sales were 374 thousand tonnes in Q3 2024, 13% lower than Q3 2023. Methanol asset utilization at OCI Beaumont and Natgasoline averaged 85% and 80% in the quarter, respectively. Own-produced ammonia sales were 77 thousand tonnes in Q3 2024, a similarly robust performance to the 75 thousand tonnes of own-produced ammonia sales achieved during Q3 2023. Benchmark prices for methanol were materially improved in the quarter compared to the same period last year. Spot US Gulf Coast methanol prices averaged USD 347/t in Q3 2024, 46% higher than the USD 238/t averaged in Q3 2023. As a result of strong own-produced sales and higher pricing, adjusted EBITDA for the business in Q3 2024 was materially higher than Q3 2023. The Natgasoline methanol plant in Beaumont, Texas has been down since 29 September and is expected to resume operations in Q4. Product sales volumes ('000 metric tonnes) Volumes Benchmark Prices Benchmark-Prices Source: CRU, Bloomberg Notes This report contains unaudited third quarter highlights of OCI Global ('OCI,' 'the Group' or 'the Company'), a public limited liability company incorporated under Dutch law, with its head office located at Honthorststraat 19, 1071 DC Amsterdam, the Netherlands. OCI Global is registered in the Dutch commercial register under No. 56821166 dated 2 January 2013. The Group is primarily involved in the production of nitrogen-based fertilizers and industrial chemicals. Auditor The reported data in this report have not been audited by an external auditor. Investor and Analyst Conference Call On 12 November 2024 at 15:00 CET (14:00 GMT), OCI will host a conference call for investors and analysts. Investors can find the details of the call on the Company's website at www.oci-global.com. Market Abuse Regulation This press release contains inside information as meant in clause 7(1) of the Market Abuse Regulation. About OCI Global Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn. Contact OCI Global Investor Relations: Sarah Rajani, CFA Email: sarah.rajani@oci-global.com www.oci-global.com OCI stock symbols: OCI / OCI.NA / OCI.AS [1] Continuing Operations net debt of USD 2,194 million as of 30 June 2024 has been restated for the deconsolidation of OCI's Methanol business [2] Production of lower carbon ammonia is conditional on supply of carbon abated hydrogen and ExxonMobil's CCS facility becoming operational [3] Including OCI's 50% share of Natgasoline volumes
Purchase of CLP Power’s Renewable Energy Certificates Exclusively Linked to GVL’s Solar Farm HONG KONG SAR - Media OutReach Newswire - 12 November 2024 - SUNeVision Holdings Ltd. ("SUNeVision"; SEHK: 1686), the largest data centre provider in Hong Kong and the technology arm of Sun Hung Kai Properties Ltd. ("SHKP"; SEHK: 0016), in strategic partnership with Green Valley Landfill Limited (GVL) and CLP Power Hong Kong Limited (CLP Power), Hong Kong's major power utility, jointly announced the launch of the renewable energy solution in Hong Kong. This collaboration underscores the companies' united commitment to delivering a green solution and promoting sustainable business development to mitigate environmental impact and foster a greener digital economy, in support of the HKSAR Government's Climate Action Plan 2050. Ms Helen Lo (left), Director of Commercial at SUNeVision, receives a site-specific CLP Renewable Energy Certificate representing the environmental attributes generated by the solar farm, presented by Ms Lena Low (right), Senior Director of Customer Success and Experience at CLP Power, and Mr Carl Lai, Project Manager of GVL. SUNeVision has inked a 6-year agreement with CLP Power to purchase the site-specific CLP Renewable Energy Certificates (RECs). Each unit of electricity in a REC represents the environmental attributes generated by the solar farm operated by GVL. The environmental attributes will be linked to a portion of the energy consumption of SUNeVision's data centre campus. GVL's solar farm is located at the South East New Territories (SENT) Landfill in Tseung Kwan O. The project is planned to commence in the first half of 2025. The solar farm is estimated to generate 1,200,000 kWh of renewable electricity annually. This will result in a reduction of around 468 tonnes of carbon emissions a year, equivalent to the CO2 absorption of about 20,000 trees. The green initiative further solidifies SUNeVision's dedication to offering sustainable solutions that meet the urgent demand for green and scalable data centres, fuelled by the surging adoption of digitalisation and AI technologies. SUNeVision's data centres, from the well-established MEGA-i to the latest editions MEGA IDC and MEGA Gateway, are all built with high environmental standards that feature energy-efficient and high-capacity operations. As a proponent of sustainable business, SUNeVision has been actively pursuing quality green power and implementing eco-friendly practices across its facilities to reduce carbon footprint. This includes utilising renewable energy through the purchase of CLP RECs and installation of solar panels, as well as applying iPaint radiative cooling paint on the generator containers. Ms Helen Lo, Director of Commercial at SUNeVision said, "At SUNeVision, we embrace the sustainability ethos of our parent company Sun Hung Kai Properties. We are proud to announce the launch of the pioneering renewable energy solution. The collaboration with CLP Power and GVL, a joint venture of SHKP, Veolia and CITIC Pacific, is a testament to our shared values in advancing sustainable development. The new initiative marks a significant milestone in our journey towards utilising 100% clean energy by the year 2050. We will continue to innovate and lead the way towards a sustainable future, striving to promote a low-carbon society and supporting Hong Kong in achieving net-zero emissions." Ms Lena Low, Senior Director of Customer Success and Experience at CLP Power said, "CLP Power is committed to promoting the development of local renewable energy. Purchasing CLP RECs is one of the effective ways for business customers to reduce carbon emissions. The programme has been well-received by our customers since its launch. As of end-June 2024, around 320 GWh were sold through CLP RECs, equivalent to a reduction of about 125,000 tonnes[1] of carbon emissions. We are pleased to provide SUNeVision with the site-specific CLP RECs, helping them achieve their goal of operating with clean energy. CLP Power will continue to collaborate with the business sector to help them implement low-carbon operations and jointly support the HKSAR Government's carbon reduction goals." Mr Carl Lai, Project Manager at GVL stated, "With the invaluable support and collaboration of the authorities, our partners, and our local engineering team, we are confident in the successful implementation of this project. We are excited about the potential of renewable energy to provide the local community with a sustainable and reliable supply of solar energy. At GVL, we see waste as a resource and view landfills as potential power plants. Our dedicated team is prepared to tackle challenges such as the landfill's slope stability, wind loads, the landfill liner, and the landfill gas systems. We are committed to providing various low-carbon energy solutions to support the city's transition to a low-carbon future." [1] Calculation based on the carbon intensity of the electricity sold by CLP Power in Hong Kong from 2019 to 2023. Hashtag: #SUNeVision #GreenValleyLandfill #CLPPower The issuer is solely responsible for the content of this announcement.About SUNeVision SUNeVision (SEHK: 1686), the technology arm of Sun Hung Kai Properties (SEHK: 0016), is the largest data centre provider in Hong Kong. We provide industry-leading carrier and cloud-neutral data centre services with Asia's number one connectivity. We connect providers of telecommunications, cloud, ISP, CDN, OTT from local, mainland China and global with enterprises of different businesses on our Asia leading data centre ecosystem. SUNeVision forms MEGA Campus by extending the connectivity edge from highly connected MEGA-i to other high-tier data centres, including MEGA Gateway, MEGA IDC, MEGA Plus and MEGA Two. Facilities on MEGA Campus are interconnected through a dedicated dark fibre network and around 15,000 cross-connects. Together with City PoPs of major submarine cables in our facilities, we enable our customers for direct connections to multi-cloud platforms and multi-cloud exchanges with the best connectivity in town. The addition of cable landing stations HKIS-1 and HKIS-2 to our data centre portfolio will provide a one-stop-solution to cable owners and users, strengthening our position as the leading connectivity hub in Asia. We are committed to supporting Hong Kong as a regional information hub and a strategic gateway to mainland China. About Green Valley LandfillGreen Valley Landfill, a joint venture between Veolia, Sun Hung Kai Properties and CITIC Pacific, operates as a contractor for Hong Kong's Environmental Protection Department. GVL has managed the South East New Territories (SENT) Landfill and its extension, responsible for design, construction and operation with a 30 years' aftercare period. The company employs advanced technologies to minimize environmental impact and innovatively converts landfill gas into electricity, fuel and synthetic natural gas for both on-site use and integration with the local gas network. About CLP Power Hong Kong Limited CLP Power Hong Kong Limited (CLP Power) is the Hong Kong utility subsidiary wholly owned by CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange and one of the largest investor-owned power businesses in Asia. CLP Power operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to more than six million people in its supply area.
From Shanghai Fashion Week to Shenzhen Fashion Week, environmental NGO Redress showcases sustainable design innovations that drive circularity in key global market HONG KONG SAR / SHANGHAI, CHINA - Media OutReach Newswire - 12 November 2024 - Redress, the Hong Kong-based, Asia-focused environmental NGO on a mission to accelerate the transition to a circular fashion industry by educating and empowering designers and consumers to reduce clothing's negative environmental impacts, is concluding their impactful consumer-focused series of sustainable fashion initiatives. From a runway at Shanghai Fashion Week, to a prominent exhibition at Bicester Village Shanghai, an artistic showcase during Shenzhen Fashion Week, a video series in collaboration with Vogue China and Xiaohongshu (Little Red Book), Redress empowers designers and consumers to influence the world's fashion powerhouse, China. Dr. Christina Dean, Founder, Redress, said, "We want to celebrate the innovation, dedication and positive influence that China has in influencing local and global sustainable fashion. We are seeing a new vanguard of Chinese designers explode into the industry, bringing with them the skills required to accelerate circular fashion. Redress is committed to promoting a circular fashion economy, a concept already familiar in China. With ambitious sustainability goals set for the coming years, the need for circularity has never been greater." Kicking off at the Shanghai Fashion Week runway, Redress showcased six exceptional Chinese sustainable fashion designers who embody China's vanguard of sustainable fashion activists, who all rose to notoriety through previously participating in the Redress Design Award, the world's leading sustainable fashion design competition. Redress' runway show, to a star-studded and packed audience, marks a significant milestone in highlighting the next generation of Chinese designers who are poised to lead one of the world's most powerful fashion industries toward a more sustainable future. Fashion designer Ruyin Tian, Redress Alum who headlined Redress' show at Shanghai Fashion Week, noted, "I think social and environmental responsibility is a must for global and Chinese designers. The Redress platform and the huge movement towards sustainable design is only getting bigger. We must, no matter the challenges, continue to inspire change and demonstrate how our unique influences can shape a better fashion industry." Redress' Videos — harnessing Chinese fashion's mass media to inspire further change To reach China's fast growing fashion consumer markets and avid fashion lovers, Redress partnered with Vogue China and Xiaohongshu (Little Red Book) on a two-episode video series as part of the Vogue China Fashion Fund 2024 Redress Mentorship Programme, in which Redress is empowering China's leading fashion designers to accelerate circularity. The videos follow China's top designers as they journey through a vast post-consumer clothing recycling facility. There, they select discarded clothing to redesign for a leading Chinese fashion influencer to wear, inspiring China's consumers to keep their clothes in use for longer. Bonnie Chen, Redress Ambassador, supermodel, and filmmaker who co-directed and hosted the video series, said, "Supporting sustainable designers who have a beautiful, soulful and creative design approach is so important, as this inspires mainstream fashion consumers to make more sustainable fashion choices." Redress' Exhibitions — Engaging Mass Consumers Redress collaborated on two exhibitions to reach a broader China audience. Kicking off in Shanghai, Redress partnered with The Bicester Collection to exhibit 22 sustainable designers' works at Bicester Village Shanghai, a prolific shopping destination. The collaboration also marks the inaugural China launch of their Creative Spot initiative, which champions emerging designers worldwide. The exhibition concludes on 30 November. Stewart Chen, Fashion Director, The Bicester Collection China, said, "Our partnership with Redress highlights our dedication to nurturing emerging talent, particularly in sustainable fashion, which is crucial for the future of the fashion industry. Bringing the Creative Spot to China for the first time signifies a bold step forward in our commitment to innovation and sustainability." In Shenzhen, and launching with support from Shenzhen Fashion Week, Redress has joined forces with new movement Sustainable Renaissance, contributing select fashion pieces from Redress Alumni for an impactful exhibition at Futian Art Gallery. The showcase is targeted at the art scene in Shenzhen's vibrant developing creative sector, furthering the dialogue on sustainability within the fashion and arts industries. The exhibition concludes 28 February 2025. Redress — Significance of Asia and focus on China Redress maintains an Asia-focused strategy, recognising the region's significant influence on the global fashion industry. Asia is home to the majority of the world's clothing consumption and production, and its rapidly growing emerging markets and production bases contribute to substantial greenhouse gas (GHG) emissions. As the largest exporter of textiles (worth US$148B, 43.6% in value) and apparel (US$182B, 31.7%) in the world[1], China faces substantial challenges with textile waste. The country produces more than 26 million tons of discarded clothing each year, which equates to approximately 70,000 tons per day.[2] Alarmingly, China's annual disposal of garments is projected to rise to around 50 million tons by 2030.[3] Dr. Christina Dean, Founder, Redress, underscored the importance of the Chinese fashion market by stating, "Asia is where the majority of the world's clothes are consumed and produced. The fast-growing emerging markets and production bases mean that Asia produces 50% of the annual global GHG emissions.[4] The positive news is that we are seeing action. China has published a nationwide goal to foster a green, low-carbon, and circular economic system. Now more than ever, there is an urgent need for collaboration among designers, manufacturers, and consumers alike to accelerate circularity in Asia." [1] World Trade Organization, World Trade Statistical Review 2023 [2] China Association of Circular Economy, 2016 [3] China Association of Circular Economy, 2021 [4] Climate Watch, Historical GHG Emissions, 1990–2020 Hashtag: #RedressDesignAwardThe issuer is solely responsible for the content of this announcement.About the Redress Design Award 2024: www.redressdesignaward.com Designers featured in the Shanghai Fashion Week runway show are members of the Redress Alumni Network: Ruyin Tian, Xue Wang, Tiger Chung, Yu Zhang, Zheyi Ruan and Violet Ma Redress Alumni: The Redress Design Award 2024 Finalists join the Redress Alumni Network, which offers ongoing support to over 300 designers as they develop their careers in sustainable fashion. About Redress’ education for designers The online, open-access Redress Academy platform is here. The online Redress Circular Fashion Design Courses are here. Further supporting statistics are here. The Redress Design Award (www.redressdesignaward.com) is the world's leading sustainable fashion design competition that educates and empowers emerging fashion designers about circular design techniques to reduce fashion's negative environmental impacts. Organised by Hong Kong-based, Asia-focused environmental NGO Redress and sponsored by the Cultural and Creative Industries Development Agency (formerly known as Create Hong Kong) annually since 2011, the competition partners with over 170 academic institutions globally and attracts designer applicants from over 50 countries and regions to win prizes that connect them with global-leading fashion businesses to accelerate the change to a circular fashion industry. The Cultural and Creative Industries Development Agency (CCIDA) (www.ccidahk.gov.hk) established in June 2024, formerly known as Create Hong Kong (CreateHK), is a dedicated office set up by the Government of the Hong Kong Special Administrative Region (HKSAR Government) under the Culture, Sports and Tourism Bureau to provide one-stop services and support to the cultural and creative industries with a mission to foster a conducive environment in Hong Kong to facilitate the development of arts, culture and creative sectors as industries. Its strategic foci are nurturing talent and facilitating start-ups, exploring markets, promoting cross-sectoral and cross-genre collaboration, promoting the development of arts, culture and creative sectors as industries under the industry-oriented principle, and promoting Hong Kong as Asia's creative capital and fostering a creative atmosphere in the community to implement Hong Kong's positioning as the East-meets-West centre for international cultural exchange under the National 14th Five-Year Plan. Redress (www.redress.com.hk) is a Hong Kong-based, Asia-focused environmental NGO with a mission to accelerate the change to a circular fashion industry by educating and empowering designers and consumers so as to reduce clothing's negative environmental impacts. Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organisers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 12 November 2024 – Kuala Lumpur will host the "World of Opportunities: Russia-ASEAN" International Business Forum on November 26-27, bringing together over 250 officials, major business leaders, business associations, and companies. Participants will discuss collaboration prospects between Russia and the Association of Southeast Asian Nations (ASEAN). Roscongress Foundation organised the 9th Eastern Economic Forum in Vladivostok, Russia. Malaysia's Prime Minister, Dato' Seri Anwar Ibrahim, met with the President of Russia, Vladimir Putin during the Plenary Session in September 2024. The forum will focus on the central theme of overcoming global challenges by forging actionable partnerships and joint projects that drive socio-economic development of Russia and ASEAN countries. The event aims to consolidate the positions of key economic players in the region. "In its projects, the Roscongress Foundation focuses on creating platforms for cooperation between Russian and international businesses. This event is part of Roscongress Foundation's new international project, 'World of Opportunities,' which opens key Russian business platforms to foreign partners. The forum's business program traditionally includes thematic sessions, discussions, and a business dialogue on a wide range of topics," noted Alexander Stuglev, Head of the Roscongress Foundation. "Top leaders from Malaysia, as well as CEOs of major companies from Russia and ASEAN, have been invited as speakers for the plenary session and thematic discussions." Participants will explore cooperation opportunities in areas such as economics and finance, the oil and gas and chemical industries, transportation, technology, innovation, information security, science and education, medicine, tourism, and the humanitarian sector. Special focus will be on agricultural cooperation, with discussions on food security, fertilizer supplies, and agricultural technology exchange. The forum will serve as an essential platform for discussions and extensive coverage on strengthening trade and investment ties between Russia and ASEAN. It will bring together more than 200 representatives from medium and large businesses, business associations, and government structures from Russia, Malaysia, and ASEAN countries. Hashtag: #RussiaASEAN #RoscongressFoundationThe issuer is solely responsible for the content of this announcement.About Roscongress FoundationThe Roscongress Foundation, established by decree of the President of the Russian Federation in 2007, is a non-financial development institution dedicated to enhancing Russia's economic potential and international image. As a leading organizer of national and global conventions, exhibitions, and cultural events, it provides insights into Russian and global economic issues, promotes social entrepreneurship, and facilitates investment. Annually, Roscongress events gather participants from 209 countries, with over 15,000 media representatives and support from 5,000 experts. The Foundation partners with UN departments and 212 economic organizations worldwide across 86 countries
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