Fintech PR
Cathay Financial Holdings Hosts COP29 Global Climate Leaders Roundtable: Brainstorming Solutions for Climate Finance and Energy Transition
TAIPEI, Dec. 17, 2024 /PRNewswire/ — The 29th United Nations Climate Change Conference (COP29) commenced in Baku, Azerbaijan, with Cathay Financial Holdings (Cathay FHC) hosting its second consecutive side event, the “Global Climate Leaders Roundtable.” This roundtable brought together over 20 prominent climate organizations, businesses, and policymakers from across the globe to engage in multi-sector and cross-border discussions about the challenges and solutions surrounding climate finance and energy transition. Under the theme “Challenges and Solutions of Climate Finance and Energy Transition,” the roundtable provided a crucial foundation for driving transformation and innovation through public-private sector collaboration.
Representatives from Taiwan, Asia, and Europe participated, including the World Climate Foundation, which connects over 80,000 public and private sector stakeholders worldwide and partners with Cathay FHC; the Climate Bonds Initiative, which develops global climate bond standards and certification mechanisms; the Asia Investor Group on Climate Change (AIGCC), managing $32 trillion across 11 countries; the International Energy Agency (IEA) with 28 member countries; Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial institution; Temasek Foundation of Singapore; and various public and private sector representatives from Taiwan, including Central Weather Administration, ICDF (International Cooperation and Development Fund), and National Taiwan University Experiment Forest.
In the face of mounting climate risks and the progressing global climate action stocktake, the roundtable underscored the urgent need to decarbonize energy systems, scale up renewable energy, and advance just transitions. Cathay FHC’s President, Chang-Ken Lee, emphasized: “COP29 is often referred to as the ‘Finance COP,’ and one of its key topics is how to effectively channel private capital into climate action, accelerating the climate transition and mitigating climate risks.” He noted that collective efforts from the financial sector can translate visionary goals into actionable climate solutions, with collaboration and innovation being essential to unlocking systemic change.
According to the International Energy Agency (IEA), global energy investment is projected to exceed the unprecedented amount of USD 3 trillion in 2024. However, achieving the goals of tripling renewable energy capacity and doubling energy efficiency by 2030 will require a significant increase in investments. Anjali Viswamohanan, Director of Policy at AIGCC, discussed Asia’s growing role as a climate investment hotspot, noting that fiduciary duty, regulatory changes, and client demand are key drivers, while regulatory uncertainty and the absence of a clear net-zero carbon framework remain challenges. IEA Energy and Climate Analyst Luca Lo Re introduced the G20’s Clean Energy Investment Roadmap for developing countries, stressing that financial flows must increase sixfold to meet energy demands and achieve net-zero by 2050. Additionally, Sean Kidney, CEO of the Climate Bonds Initiative, emphasized that science-based green bond standards are crucial for scaling up climate finance, as standardized processes can reduce investment risks and accelerate progress. Tomo Ishikawa, Chief Regulatory Engagement Officer at MUFG, discussed the challenges of the enormous cost with the attempt to decarbonize hard-to-abate sectors and suggested using standardized financing templates and blended finance models to simplify climate investment processes.
Experts in climate action also explored the vital role of nature-based solutions in tackling climate change. Shruthi Kumar, Deputy Director of Temasek Foundation, shared insights into how bank financing was applied to a sustainable palm oil planting project in Indonesia, which mitigates deforestation risks while benefiting both banks and farmers. Kuo-Chen Lu, Deputy Director of Taiwan’s Central Weather Administration, emphasized the key role of artificial intelligence in natural disaster early-warning systems for mudslides and earthquakes, highlighting technology’s importance in improving climate resilience. Ming-Jer Tsai, Director of National Taiwan University’s Forest Experimental Station, proposed innovative methods for quantifying biodiversity gains through biocarbon credits, providing a new science-based tool for conservation efforts.
Cathay FHC’s Chief Investment Officer, Sophia Cheng, reinforced the company’s commitment to advancing climate finance and energy transition. She highlighted Cathay’s pivotal role in financing Taiwan’s renewable energy projects and sustainability-focused financial products, with over USD 50 billion dedicated to sustainable financing as of 2023. She remarked, “”In the face of seemingly insurmountable challenges, through innovation and collaboration, we can turn the impossible into possible.” In this gathering of global climate leaders, Cheng once again emphasized that through cooperation, systemic transformation can be achieved, ensuring a sustainable future for all humanity.
Photo – https://mma.prnewswire.com/media/2582926/Cathay_Financial_Holdings_held_Climate_Leaders_Roundtable_a_side_event.jpg
Photo – https://mma.prnewswire.com/media/2582927/Climate_action_experts_countries_gathered_forum_emphasizing_urgency_accelerating_energy.jpg
Photo – https://mma.prnewswire.com/media/2582928/Cathay_FHC_President_Chang_Ken_Lee__left__believes_important_issues_COP29.jpg
View original content:https://www.prnewswire.co.uk/news-releases/cathay-financial-holdings-hosts-cop29-global-climate-leaders-roundtable-brainstorming-solutions-for-climate-finance-and-energy-transition-302333627.html
Fintech PR
TuniTuni Promotes Early Childhood Physical Movement and Expands Globally with Interactive Storytelling Program
SEOUL, South Korea, Dec. 17, 2024 /PRNewswire/ — TuniTuni, the leading storytelling physical education program for toddlers, is expanding internationally while emphasizing the importance of physical movement in early childhood development. Since its founding in 2003, TuniTuni, the early childhood physical education brand under Daekyo, has been making waves in South Korea, offering a unique combination of engaging stories and physical activity for children aged 12 to 36 months.
Global Expansion: TuniTuni’s Reach Beyond South Korea
TuniTuni’s global reach continues to expand. The brand opened its first international center in Vietnam in 2022, marking the start of its global journey. In June 2024, TuniTuni furthered its expansion with the opening of its first direct-operated center in Hong Kong, followed by a second center in Kuala Lumpur, Malaysia, in October.
In the United States, TuniTuni classes were previously held in New York and New Jersey, and are currently taking place in Philadelphia. Looking ahead, a TuniTuni directly-operated center is set to open in Fort Lee, New Jersey, in March next year.
To celebrate the opening of the Kuala Lumpur center, TuniTuni Malaysia is offering exclusive December promotions. Parents who register this month can enjoy special offers, including TuniTuni dolls, balls, and other educational props.
Why Physical Movement is Essential for Toddlers
Physical movement between the ages of 24 and 36 months plays a critical role in stimulating brain development, helping toddlers build motor skills, language abilities, and emotional regulation. TuniTuni’s weekly themed lessons and interactive props ensure that children are engaged and entertained while developing essential physical skills in a playful and enjoyable way.
TuniTuni’s Innovative Approach to Early Childhood Development
Each week, TuniTuni introduces a new, fun-filled theme, incorporating diverse physical movements and imaginative storytelling. This approach not only keeps children excited and motivated but also nurtures curiosity, laying a foundation for healthy physical and cognitive development.
Why Choose TuniTuni for Your Child’s Physical Development?
TuniTuni stands out for its unique integration of physical education and storytelling, providing children with a fun and engaging way to build confidence, enhance motor skills, and develop a lifelong love for physical activity. This innovative approach is designed to give young children a strong, well-rounded start in life through play and movement.
TuniTuni’s program continues to attract global attention, setting a new standard for early childhood development with its proven ability to foster both physical and cognitive growth.
About TuniTuni
TuniTuni is a leading early childhood physical education brand under Daekyo, a renowned educational company in South Korea. With a focus on promoting physical activity and development through interactive storytelling, TuniTuni has impacted the lives of one in six children in South Korea, shaping the next generation’s growth through play. For more detailed information, please visit tunituniglobal.com.
Photo – https://mma.prnewswire.com/media/2582826/Child_enjoying_a_TuniTuni_class_Kuala_Lumpur_Malaysia.jpg
View original content:https://www.prnewswire.co.uk/news-releases/tunituni-promotes-early-childhood-physical-movement-and-expands-globally-with-interactive-storytelling-program-302333532.html
- In 2024, global IPO volumes fell 10%, with proceeds down by 4% YOY
- India led in volume and the US led in proceeds
- Chinese mainland experienced its lowest IPO activity in a decade
LONDON, Dec. 18, 2024 /PRNewswire/ — The global IPO market recorded 1,215 deals, raking in US$121.2b in proceeds for 2024, falling slightly behind 2023 levels. The second half of this year had a stronger performance compared with the first half, with the fourth quarter outperforming the three preceding quarters. These and other findings are available in the EY Global IPO Trends 2024.
India, for the first time, has risen to the number one position globally in IPO volume, listing nearly twice as many IPOs as the US and two-and-a-half times as many as Europe. Meanwhile, the US reclaimed the top spot globally for IPO proceeds for the first time since the 2021 peak, continuing to stand out as the most dynamic and attractive market for global investors. The US stock market’s valuation also reached unprecedented levels, outpacing all other markets. In addition, a historic high of 55% of US public listings in 2024 were foreign issuers. Tightened regulations in the Chinese mainland contributed to its weakest IPO performance in a decade by number. Australia faced its sharpest decline in volume in more than 20 years. And Malaysia achieved a 19-year record high for number of IPOs, fueled by increased interest to its valuation and liquidity.
In 2024, public listings of private equity- (PE) and venture capital- (VC) backed portfolio companies generated 46% of total global IPO proceeds, highlighting their substantial contribution to global IPO activity and reinforcing the critical role of PE and VC firms in shaping the IPO landscape. Out of the 20 mega IPOs in 2024, 12 were PE-backed, a significant increase from the two listed last year. There were also 18 unicorn IPOs listed in 2024, half of which were launched by VC firms, up from just three in 2023.
Technology, media and telecommunications (TMT), industrials and consumer sectors dominated global IPOs, with an approximately combined 60% share across all sectors by both number and proceeds.
Cross-border listings continued to increase in 2024 with a total of 113 listings compared with 83 in 2023. The US remained the leading destination for IPOs, while mid-to-large cap deals demonstrated a solid after-market performance.
2024 regional performance
EMEIA emerged as the leader in both volume and proceeds among the regions, with 522 deals raising US$53.2b. The region contributed six of the top 10 largest public offerings, with three of them PE-/VC-backed.
The Americas saw a strong recovery, reaching its highest IPO activity since 2021, in both volume and proceeds, with 205 IPOs raising US$33.1b.
IPO activity in the Asia-Pacific region continued its downward trajectory that began in 2021, declining 35% in deals and 51% in proceeds year-over-year (YOY), although the second half of the year had a greater performance compared with the first half.
AI companies continue to attract investors; crypto-focused firms gain momentum
There are currently more than 600 artificial intelligence (AI) and AI-related public companies and nearly half of them have gone public in the past four years, many with VC backing, demonstrating how IPOs can help overcome funding challenges while driving innovation and growth.
Approximately, 60 AI companies are currently in the process of IPO registration, with more than 400 in the pipeline, indicating continued investor interest and VC support in AI-driven innovations. If the AI vertical establishes a benchmark in successful IPOs, it could encourage other high-growth verticals to pursue IPOs, fueling broader market momentum in future years.
The approval of Bitcoin and Ethereum exchange-traded funds (ETFs) in the US this year has enhanced the legitimacy of digital assets, which provides greater access for institutional investors and improved market liquidity, potentially driving a wave of IPO filings from crypto-focused firms. The success of these IPOs, however, also hinges on navigating regulatory challenges and showcasing robust compliance structures.
Impact on IPOs post US election
Historically, IPO activity has typically risen in the years following the US presidential elections, regardless of which party controls the majority. There’s usually a certain amount of uncertainty in the lead up to an election, but, post-election, there is generally greater clarity in terms of policy direction and economic initiatives. This tends to stabilize market sentiment, creating a more favorable environment for IPOs. First-movers in a post-election year tend to include industrials, TMT and financials. However, nearly all sectors experience growth.
2025 outlook and beyond
Mega trends, including shifting fiscal and monetary policies, geopolitical tensions and global supply chain, AI and digital transformation, new environmental, social and governance (ESG) priorities and the influence of the new US administration are reshaping the global IPO market. Despite these transformative forces, the IPO market remains on track for a strong performance in 2025, supported by a cautiously optimistic economic environment, increasingly favorable monetary policies and heightened liquidity and valuation levels.
Simultaneously, the traditional global IPO market is evolving into interconnected, yet distinct regional ecosystems with their own sector specializations and growth drivers. The success of each sector is increasingly influenced by the economic conditions of its local market and the strategic priorities of the region.
George Chan, EY Global IPO Leader, says:
“Business transformation requires funding, and an IPO offers a powerful avenue to raise the capital needed to drive growth and innovation. After a period of slower activity, the global IPO market is regaining its momentum, supported by more favorable market conditions.
The outlook for 2025 appears increasingly optimistic, with a strong pipeline of companies across sectors looking to capture the opportunities presented by this renewed market strength.”
Notes to editors
About EY
EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.
Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.
EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.
All in to shape the future with confidence.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
About EY Private
As Advisors to the ambitious™, EY Private professionals possess the experience and passion to support private businesses and their owners in unlocking the full potential of their ambitions. EY Private teams offer distinct insights born from the long EY history of working with business owners and entrepreneurs. These teams support the full spectrum of private enterprises including private capital managers and investors and the portfolio businesses they fund, business owners, family businesses, family offices and entrepreneurs. Visit ey.com/private.
About EY IPO services
Going public is a transformative milestone in an organization’s journey. As the industry-leading advisor in initial public offering (IPO) services, EY teams advise ambitious organizations around the world and helps equip them for IPO success. EY teams serve as trusted business advisors guiding companies from start to completion, strategically positioning businesses to help achieve their goals over short windows of opportunity and preparing companies for their next chapter in the public eye. ey.com/ipo
About the data
The data presented here is available on ey.com/ipo/trends.
Q4 2024 refers to the fourth quarter of 2024 and covers completed IPOs from 1 October to 9 December 2024, plus expected IPOs by 31 December 2024 (forecasted as of 9 December 2024). Q4 2023 refers to the fourth quarter of 2023 and covers completed IPOs from 1 October to 31 December 2023. H1 2024 refers to the first half of 2024 and covers completed IPOs from 1 January 2024 to 30 June 2024. H2 2024 refers to the second half of 2024 and covers completed IPOs from 1 July to 9 December, plus expected IPOs by 31 December 2024 (forecasted as of 9 December 2024). 2024 refers to the full calendar year and covers completed IPOs from 1 January 2024 to 9 December 2024, plus expected IPOs by 31 December 2024 (forecasted as of 9 December 2024). 2023 refers to the full calendar year and covers completed IPOs from 1 January 2023 to 31 December 2023.
All data contained in this document is sourced from Dealogic, Mergermarket, PitchBook, S&P Capital IQ, LSEG (Refinitiv) and EY analysis unless otherwise noted. The Dealogic data in this report are under license by ION. ION retains and reserves all rights in such data. SPAC data are excluded from all data in this report, except where indicated.
Lauren Mosery
EY Global Media Relations
+1 732 977 2063
[email protected]
Logo – https://mma.prnewswire.com/media/381362/EY_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/2024-ipo-wrapped-americas-and-emeia-recover-asia-pacific-lags-302334109.html
The chief technology officer at Foot Locker, Butler brings more than 25 years of leadership experience across all areas of technology to the Board
NORFOLK, Va., Dec. 17, 2024 /PRNewswire/ — PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that Adrian Butler has been elected as an independent director of the company, effective January 1, 2025.
Butler is the chief technology officer (CTO) of Foot Locker, Inc., a leading global footwear and apparel retailer with approximately 2,450 retail stores in 26 countries across North America, Europe, Asia, Australia and New Zealand, and a licensed store presence in the Middle East and Asia. As Foot Locker’s CTO, Butler is responsible for driving technology strategy, innovation and delivery across their digital, data and analytics, supply chain/merchandising and omni-channel experiences. Prior to this role, he was chief information officer at Casey’s General Stores, Inc., and senior vice president of information technology and chief information officer at Dine Brands Global, Inc., the parent company of Applebee’s and IHOP restaurants. He also served as vice president in the technology services division at Target Corporation.
In addition to serving on boards such as Potbelly Corporation and Grambling University Foundation, his alma mater, Butler is the recipient of numerous awards and recognitions, including Los Angeles Business Journal’s CIO of the Year, CIO Magazine’s CIO 100, Computerworld’s Premier 100 IT Leaders, Board Prospects’ 50 Military Veteran Board Members Making a Difference and the 500 Most Powerful Business Leaders in Dallas-Fort Worth.
“We are thrilled to welcome Adrian to the Board,” said Steve Fredrickson, PRA Group Board chairman. “Adrian is an experienced public company board member and business leader with demonstrated success driving technology innovations to transform large global organizations across multiple industries after serving as captain in the United States Air Force. His business and technology insights and expertise will be invaluable to the Board and management as we continue to advance our IT strategy and preparedness in support of initiatives that drive profitable growth.”
“I am honored to join the talented Board at PRA Group as a strategic business partner and contribute my experience to support its continued growth and success around the globe,” said Butler.
About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.
News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
[email protected]
Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
(757) 431-7913
[email protected]
Photo – https://mma.prnewswire.com/media/2583554/Adrian_Butler.jpg
Logo – https://mma.prnewswire.com/media/819349/PRA_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/adrian-butler-elected-to-pra-group-board-of-directors-302334293.html
-
Fintech6 days agoFintech Pulse: Your Daily Industry Brief (IBANera, FIS, Citigroup, Gen Digital, Mynt)
-
Fintech5 days agoFintech Pulse: Your Daily Industry Brief (Nuvei, Google, Upvest, Gen Digital, MoneyLion)
-
Fintech PR5 days agoCathay Financial Holdings Calls for Climate Finance Mobilization to Drive the Climate Industrial Revolution
-
Fintech PR5 days agoA New Era of $WUSD — Revolutionizing Stablecoins with Unmatched Security, Stability and Next-Gen Innovation
-
Fintech PR5 days agoLanistar launches new gaming sites in Brazil as secures right to operate pending final approval on its licence
-
Fintech PR5 days agoHealthcare Revenue Cycle Management (RCM) Market Surges to USD 658.7 Billion by 2030, Propelled by 24% CAGR – Verified Market Reports®
-
Fintech1 day agoFintech Pulse: Your Daily Industry Brief (Synapse, Shenzhen Institute, Visa, AutomatIQ, MeridianLink)
-
Fintech PR5 days agoInternational Communication Forum: Pathways To A Sustainable Future