Young people in the Hong Kong and Macao special administrative regions are expected to benefit from eight new supportive measures unveiled on Thursday that provide them with more opportunities for education, employment and exchanges on the Chinese mainland.
New report says more of the Asian nation’s biggest firms are gaining an international reputation for innovation and quality; the latest on a corruption scandal rocking the country’s top policy lender; and flights are grounded in Shenzhen after the discovery of new Covid casesJun 23, 2021 05:58 PM
Plus, Sichuan province plans to shutter all Bitcoin mining operations in the region; Huawei has extended a recent move into the high-tech microchip sector with a new investment in high-powered lasers, and Australia takes a dispute over wine tariffs to the WTOJun 23, 2021 04:59 PM
World’s Largest Insurers ‘Failing’ to Address Climate Change, Biodiversity Loss
Most of the world’s largest insurers are failing to adequately address systemic risks such as climate change and biodiversity loss, but U.S. insurers rank the lowest, according to report published by nonprofit ShareAction.
ShareAction gives the lowest mark – an E – to almost half (46%) of 70 of the world’s largest property/casualty and life and health insurers for their sustainability practices. “Despite the sector’s supposed expertise in managing risk, insurers continue to ignore the systemic risks of climate change and biodiversity loss.”
Five U.S. property/casualty insurers – Nationwide, Genworth Financial, American International Group, Allstate, and Chubb appear in the bottom 10 of the ranking, each receiving the lowest score with their environmental, social and governance credentials (ESG). Two Chinese insurers – the People’s Insurance Co. Group of China (PICC) and Chin
In this round-up, Ant Group and the Chinese regulators have reportedly agreed on a restructuring plan that will see the online payments firm transform into a financial holding company, and MSCI rolls out two new indices tracking new economy companies in China.