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Indian
Odisha train accident: Inquiry finds multi-level lapses, says reporting past red flags could have averted tragedy
The accident on June 2 resulted in the deaths of 292 people and...
IndusInd Bank holding co to raise $1.5 bn to fund RCap buy, increase stake in lender to 26 pc
RCap administrator is likely to file the IIHL resolution plan in...
Mcap of BSE-listed firms reaches record high of Rs 297.94 lakh cr
''After key benchmark indices scaled fresh peaks last week,...
Chandni Chowk traders turn to GPS to shield themselves from robbery incidents
"You can fit this (GPS) device to your bag, put it in the middle of...
International
China encourages mainland insurers to sell catastrophe bonds in Hong Kong
Mainland property and casualty insurance companies and reinsurance companies can set up special-purpose entities in Hong Kong to raise funds from bond sales, according to a statement of the China Banking and Insurance Regulatory Commission (CBIRC).
The arrangement can help diversify insurers’ losses from natural disasters such as earthquakes, floods and typhoons, it said.
MS Amlin launches new agriculture reinsurance offering with strategic hire
The agriculture reinsurance offering will be available globally and coverage includes five core products: crop insurance, livestock insurance, aquacultural insurance, forestry and weather index products. The launch comes as part of MS AAG’s wider global diversification strategy, with Bektleuov leading the new offering.
Biden’s $3.5 trillion climate change plan to eliminate fossil fuel emissions from U.S
Included in the massive legislation is a nationwide clean-electricity program that is intended to eliminate climate-damaging fossil fuel emissions from U.S. power plants by 2035 catching up to requirements already set in some states.
The proposal would spend billions to install 500,000 electric vehicle charging stations and upgrade the power grid to make it more resilient during hurricanes and other extreme weather events that are increasing and intensifying as a result of climate change.
Investors with $4 trln assets aim to tackle Asian firms on climate change goals
The six investors include BMO Global Asset Management EMEA, Fidelity International, Dutch pension fund PGGM, Britain-based Local Authority Pension Fund Forum, Aviva Investors and Legal & General Investment Management.
Initial engagement will focus on carbon risk and coal at banks and coal-exposed power companies, the group of investors, facilitated by Singapore-based advisor Asia Research & Engagement (ARE), said in a statement.
The move comes as investors become more active in the field of environmental, social and corporate (ESG) governance, helping to shape firms’ climate commitments to better manage that risk for their clients. ESG-related steps they have taken include backing activist shareholder resolutions and voting on board members and remuneration.
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