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CLIMATE CRISIS FINALLY TAKES CENTRE STAGE IN GLOBAL POLITICS

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GENERATION INVESTMENT MANAGEMENT’S 7TH ANNUAL SUSTAINABILITY TRENDS REPORT HIGHLIGHTS THE BOLD NEW POLICY COMMITMENTS UNDERPINNING THE CRITICAL PERIOD FOR ACTION ON THE CLIMATE CRISIS

LONDON and SAN FRANCISCO, Sept. 14, 2023 /PRNewswire/ — Generation Investment Management, the sustainable investment manager, today published its seventh Sustainability Trends Report, which annually seeks to answer the question of where the world stands in the transition to a low-emissions economy.  This year’s assessment analyses how climate change has moved to the centre of global politics and how rapid shifts in policy are transforming the outlook for the energy transition across the global economy – from the power sector and transportation to buildings, industrials, land use and climate finance.  

Al Gore, Chairman of Generation Investment Management, said: “The last year proved that we have finally mustered political will to take significant steps forward in global efforts to solve the climate crisis. At long-last, we have arrived at a political tipping point, as new ambition from the United States, the European Union, Australia and Brazil, among many other nations has accelerated the implementation of climate solutions in key economies around the world. These are significant signs of progress, but despite reaching this tipping point, we have not yet crossed the threshold that puts us on a path to averting the worst impacts of this crisis.”

“Political progress in the past year has kicked off a global race to the top for climate policy, but we are still far from the finish line. Despite the very welcome progress, soci­ety has still not com­mit­ted itself fully to writ­ing laws, mobi­lis­ing cap­i­tal, revis­ing long­stand­ing prac­tices and build­ing clean machin­ery at the pace required. If we are to achieve the goals of the Paris Agree­ment, emis­sions need to fall sharply every year, and be cut in half by 2030. We have the solutions at hand but remain in a race against time – one that must be fuelled by both friendly competition and collaboration.”

EMISSIONS REDUCTION MEASURES – A LONG TIME COMING

For decades, public policy and private sector commitments have failed to achieve any meaningful reduction in global greenhouse gas emissions. Indeed, emissions are still rising today. But the world finally appears to be nearing the point where emissions will peak and begin to fall. That is likely because many of the clean-energy technologies needed now are growing at a rapid pace, which has accelerated sharply in the past year.

In most cases, it was not the climate crisis alone that prompted this rapid acceleration but rather the ramifications for global energy markets caused by Russia’s attack on Ukraine. The war precipitated the first truly global energy crisis, with soaring prices and fears of supply shortages. For many countries, escaping their addiction to Russian fossil fuels converged perfectly with their ambition to switch to clean energy. That intersection of priorities has led to rapid shifts in policy that are helping to change the pace and outlook of the energy transition.

A SHIFT IN POLICIES – BUT WITH A PARADOX BUILT IN

The acceleration to decarbonise has a clear paradox built in – Western countries are trying to speed-up their transitions while simultaneously replicating the supply chains that exist already in China. As compared to China, no country is spending more on clean energy; no country is moving faster on nuclear power; and no other country can bring to bear the sheer industrial might of China to try to scale up solutions. Yet China is also building more coal-burning power plants than any country in the world, at a pace that has accelerated sharply in the past few years as China copes with power shortages. Global emissions will likely reach their peak and begin to fall only when China finally begins to reduce its use of coal.

How far Western countries will go in trying to decouple their economies from China, partly through the ‘reshoring’ of clean energy manufacturing, is unclear. Consequently, it is unclear to what extent reshoring will slow the energy transition, compared to its maximum achievable pace. While complete decoupling will almost certainly be impossible, policy responses to this challenge will play a critical role in the speed of the global energy transition.

IS THE RESHORING OF CLEAN ENERGY A POLITICAL NECESSITY?

In the United States, the impact of the Inflation Reduction Act (IRA) has been unprecedented. Its policies have precipitated a wave of announcements of new electric vehicle manufacturing sites and clean energy developments. Critically, US states whose leaders have otherwise shunned policies aimed at accelerating the adoption of clean energy have seen much of the benefits of this law through new investment and job creation in the tens of thousands.

The IRA is building a new political constituency for the energy transition which over time could make opposition less tenable. Critically, it shows other countries one example of how broad coalitions can be built in support of the clean-energy economy. For the clean economy to win on a global scale, the political cost of trying to undermine it must become too high.

Other accelerating trends outlined in the report include:

Power: an emissions peak is near, but grid issues pose an increasing challenge

  • Wind and solar power are now supplying 80 percent of new power demand worldwide. The report suggests that we are no more than a few years away from the point where wind and solar begin to supply more than 100 percent of new demand – meaning it will begin to claim market share from fossil fuels for the first time.
  • However, countries need to focus intently on solving the increasingly significant challenge of interconnection queues to enable renewable power to connect to the grid at the speed it needs to. Waiting lists that used to stretch for 18 months are now running for five years, and the situation is getting worse.

Transportation: we have entered the steep part of the curve for the growth of electric cars

  • Sales of electric cars jumped nearly 60 percent last year globally, and on that higher base, another jump of 30 to 35 percent is forecast for this year. Approximately half of all two- and three-wheelers sold worldwide are electric.
  • Shortages and spiking prices for the critical minerals needed to build them, particularly lithium, provide a challenge to the rollout of electric vehicles. Avenues to secure new supply and to ensure respect for human rights and fair treatment of the countries and people that host those mines must be found.

Buildings: we still are not where we need to be, but there is some good news

  • Heat pumps can help us decarbonise buildings – sales soared over 50 percent in Germany last year and they are rising at double digits worldwide. In the United States, sales of heat pumps have now surpassed those of gas furnaces for the first time.
  • We are not making as much progress on fixing the shells of our buildings to improve energy efficiency, and that is critical, so it is clear that new public policy is going to be needed.

Industry: decarbonisation efforts are finally starting to move, though not fast enough

  • We are finally seeing movements in the early stages of industrial decarbonisation, not least with the surge in the development of hydrogen projects worldwide.
  • Clean hydrogen can play an important role in decarbonising the chemicals, steel, aviation and shipping industries. The challenge ahead for governments is to ensure production is scaled and costs fall – and in discerning the end uses where hydrogen does not make economic sense.

Land & Food: some big developments, both good and bad

  • There are major new commitments to protecting forests and the ocean, including a global agreement on biodiversity in which the nations of the world agreed to put 30 percent of the world’s land and ocean resources under legal protection by 2030. The European Union has also adopted a new law that will ban the import of “products of deforestation.”
  • New revelations have rightly heightened negative attention on carbon offsets used by corporations and individuals. Efforts are under way to clean up the carbon offsets market, but it could prove challenging.

Financing the Transition: some attempts to solve the biggest problem

  • The International Energy Agency estimates the world will need to mobilise nearly $5 trillion per year by the 2030s to decarbonise the world economy. The magnitude of change presents an opportunity for investors unlike any other in the history of financial markets. Though capital flows have been scaling rapidly, they are still not large enough, and are not adequately targeting the hard to abate sectors and the Global South.
  • Just Energy Transition Partnerships, involving the World Bank and big donor countries, are helping developing nations including India, Indonesia, Senegal, South Africa and Vietnam secure financing for new energy infrastructure. But these deals may be too slow and too piecemeal to achieve real change. We need an ambitious global plan to speed-up the transition in developing countries.
  • Stewards of capital must play a leading role to achieve a low-emissions economy. The investment industry should adopt a new framework for capital allocation that expands what capital markets value.

Media Contact
Richard Campbell
Kekst CNC
[email protected]
+44 (0) 7775 784 933

About Generation Investment Management

Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a US presence in San Francisco, with more than $44 billion of assets under management and supervision.1 For further information, please visit https://www.generationim.com/

1 Assets under management as at 30 June 2023 are $34.0 billion and assets under supervision (AUS) as at 31 March 2023 are $10.9 billion.

 

 

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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