Investors betting against green trades are going up against the world’s most powerful governments.
The leaders of the biggest economies have over the past week pledged massive cuts on greenhouse gas emissions, paving the way for a torrent of regulation that is set to benefit green stocks and bonds. And it’s likely to deal blows to companies not positioned for the transition to a lower-carbon economy.
During a climate summit on Thursday, U.S. President Joe Biden announced a goal to halve emissions by 2030 on 2005 levels, a vow that could mean penalizing fossil fuel use or mandating renewable power. Canada and Japan raised target cuts to 40% to 46% by 2030, while the U.K. topped that with a vow to slash 78% by 2035.
Governments Want You to Buy Green Ignore Them at Your Peril
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Governments want you to buy green Ignore them at your peril
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Foodtech giant Zomato has converted itself into a public limited company from a private company, taking another step ahead towards initial public offering (IPO). The company is likely to go public this year.
The food-delivery app is planning to raise $750 million to $1 billion via primary stake sale. The company, which started off as a restaurant discovery and review platform, recently closed a $250 million primary funding round with another $250 million of shares being sold by existing investors like China’s Ant Financial, ET reported on January 27.
Regulatory filings showed Zomato is readying to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) and relevant stock exchanges within this month.