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Fullerton Fund Management in partnership with UNDP launches its Sustainability Management Framework for private equity climate investments
It guides private equity investors on how to align their strategy, management, transparency and governance practices, to achieve their decarbonisation goals.
SINGAPORE, April 17, 2024 /PRNewswire/ — Fullerton Fund Management (Fullerton) has partnered with the United Nations Development Programme (UNDP) to develop a Sustainability Management Framework to guide private equity climate investing in Asia, using UNDP’s SDG Impact Standards as a foundation. The framework offers private equity companies a roadmap to adopting practices that can help to accelerate their net zero goals.
In Asia, the environmental and commercial case for climate investments is compelling, with the addressable market size for green businesses in Asia targeted to reach over US$4 trillion by 2030[1]. Governments have made strong commitments to decarbonise their economies, and around $53.5 trillion of investments between 2020-2060 is required to meet the net-zero targets already announced[2]. There are significant investment opportunities ahead and private equity can play a pivotal role alongside public spending in bridging the funding gap.
Private equity investors are well-positioned to exert greater influence on portfolio companies over climate and sustainability issues. However, disclosure standards in the region are uneven and corporate disclosures remain lacking, particularly in emerging Asia. This poses challenges for climate investors who are looking to assess the material environmental issues, and their implications, for their investments.
The Sustainability Management Framework guides private equity investors on how to integrate sustainability considerations and the sustainable development goals (SDGs) into their strategy, management, transparency and governance practices, to achieve their decarbonisation goals. Through the framework, climate investors can conduct a critical evaluation of the various possible investment practices and decide on the unique set of practices which aligns best to their investment mandates and stakeholders’ requirements.
“As an investor of private capital in Asia, we recognise that sustainability issues have considerable implications for a company’s investment value, particularly for private equity, which has a long investment horizon. With the launch of this Sustainability Management Framework with support from the UNDP, we are committed to integrating sustainability considerations in our private equity climate investments. More importantly, we hope to share this framework and insights from real-world case studies with our peers, to enable them to evaluate the relevant sustainability aspects required to optimise decarbonisation in the region,” said Huck Khim Tan, Deputy Chief Investment Officer and Head of Alternatives at Fullerton Fund Management.
“The private sector has a significant role to play in accelerating Asia’s decarbonisation, including in collaboration with and alongside efforts from actors in the public and multilateral domains. Recognising this, we are delighted to collaborate with Fullerton Fund Management to develop this Sustainability Management Framework, leveraging the UNDP’s SDG Impact Standards for private equity funds. This framework is useful for climate investors who are looking to align their internal practices and decision-making to achieve their decarbonisation goals,” said Haoliang Xu, UN Under Secretary General and Associate Administrator of the United Nations Development Programme.
About Fullerton Fund Management
Fullerton Fund Management Company Ltd (“Fullerton”) is an active investment specialist, focused on optimising investment outcomes and enhancing investor experience.
We help clients, including government entities, sovereign wealth funds, pension plans, insurance companies, private wealth and retail, from the region and beyond, to achieve their investment objectives through our suite of solutions. Our expertise encompasses equities, fixed income, multi-asset, alternatives and treasury management, across public and private markets.
As an active manager, we place strong emphasis on performance, risk management and investment insights. Incorporated in 2003, Fullerton is headquartered in Singapore, and has associated offices in Shanghai, Jakarta and Brunei. Fullerton is part of a multi-asset management group, Seviora, a holding company established by Temasek. Income Insurance, one of Singapore’s leading insurers, is a minority shareholder of Fullerton.
For more information, please visit www.fullertonfund.com
About United Nations Development Programme (“UNDP”):
As the United Nations lead agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. UNDP helps countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and to build resilience to achieve the Sustainable Development Goals. UNDP’s work is concentrated in three focus areas; sustainable development, democratic governance and peace building, and climate and disaster resilience. Learn more at undp.org or follow @UNDP
About UNDP Sustainable Finance Hub:
The UNDP Sustainable Finance Hub (SFH) brings together UNDP’s financial expertise to harness public and private capital for the Sustainable Development Goals (SDGs)- supporting governments, investors and businesses in reaching climate, social impact and sustainability targets. Its work drives systemic change towards a sustainable financial architecture that benefits people and the planet. SDG Impact is a global flagship initiative of SFH, established to accelerate private sector investment and activity towards sustainability and achievement of the SDGs by making it easier for businesses and investors to embed impact into their internal management and decision-making practices, as well as direct capital to where it can make the most difference to people and planet.
Find out more about its integrated services that ensure all finance is sustainable, at sdgfinance.undp.org or follow @UNDP_SDGFinance
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[1] McKinsey & Company, 2022. Green Growth: Capturing Asia’s $5 Trillion Green Business Opportunity. Available at: www.mckinsey.com/featured-insights/future-of-asia/green-growth-capturing-asias-5-trillion-green-business-opportunity. |
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[2] Asia Society Policy Institute, 2022. Building a Powerful and Coherent Vision for Net Zero in Asia. Available at: https://asiasociety.org/policy-institute/building-powerful-and-coherent-vision-net-zero-asia |
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dLocal, a prominent player in the cross-border payment sector with a focus on burgeoning markets, has unveiled an expansion of its collaboration with Deel, a leading HR and payroll platform, spanning 12 additional countries across Asia and the EMEA region. dLocal and Deel Extend Partnership to 12 Countries amidst Remote Work Surge
This expansion comes on the heels of a highly successful initial rollout across 19 countries in 2022, which witnessed a substantial surge in payment volumes and an impressive payment delivery rate of 99.97%.
Dan Westgarth, COO of Deel, remarked, “dLocal’s expertise in payments has been instrumental in our journey, and this significant expansion into high-growth markets is a testament to the quality of their services. We’ve been able to scale rapidly, on our terms, thanks to dLocal’s support.”
Under this enhanced partnership, dLocal will extend its services to Indonesia, Malaysia, Thailand, Vietnam, Ghana, Jordan, Kenya, Morocco, Saudi Arabia, South Africa, Turkey, and the United Arab Emirates. Additionally, dLocal will offer payout services in Brazil through PIX, a widely adopted instant payment method in Latin America.
Agustin Botta, Head of EMEA at dLocal, emphasized, “Our goal is to foster growth and opportunities for brands and individuals, and the collaboration with Deel perfectly aligns with this objective.”
Forging New Alliances
In addition to deepening its partnership with Deel, dLocal has recently forged alliances with other industry players. The company has partnered with Papaya Global, a leading payroll platform, to facilitate timely payments to employees, partners, freelancers, and suppliers in local currencies across the globe. By integrating dLocal’s payment capabilities into Papaya’s platform, the payment process is streamlined for their shared clients.
Furthermore, dLocal has joined forces with Ebury to bolster cross-border payments in Africa. Leveraging dLocal’s payment solution, Ebury can efficiently manage both incoming and outgoing payments while optimizing costs and delivery times. Additionally, dLocal provides extensive support to Ebury’s merchants navigating the complexities of emerging markets. As Ebury expands its footprint in these regions, the partnership with dLocal provides access to over 41 different markets through a single integration.
dLocal, a publicly traded company on NASDAQ, has successfully completed four funding rounds to date. In its latest and most substantial round in 2021, the company raised $150 million, achieving a valuation of $5 billion.
Source: financemagnates.com
The post dLocal Expands Partnership with Deel to 12 New Countries appeared first on HIPTHER Alerts.
A climate-focused fintech startup that promotes environmental conservation through its debit card usage has secured $2.5 million (£2 million) in funding.
Founded in 2019, Ekko intends to utilize the funding to recruit top-tier industry professionals who can contribute to product development and global expansion initiatives.
Fuel Ventures led the funding round, with additional investments from Sorven Partners, Mishcon de Reya, and existing backers. This follows Ekko’s previous pre-seed funding of £450,000 in 2021.
Co-founded by Oli Cook, Manish Vara, Simon Toller, and Tom Greenwood, Ekko has developed a unique debit card that monitors the carbon footprint associated with purchases.
Through partnerships with renowned organizations like Gold Standard, Conservation International, Tusk, and Prevented Ocean Plastic, Ekko plants trees and collects ocean-bound plastic with every consumer transaction. These conservation efforts are funded through a subscription fee ranging from £1.99 to £9.99 per month.
Moreover, Ekko has developed business-to-business (B2B) software to integrate into banking or checkout applications, enabling third parties to access its climate services.
Oli Cook emphasized Ekko’s scalability, anticipating the broader impact of the funding on product development and partnerships. He underscored the urgency of addressing climate change and Ekko’s mission to disrupt the market by empowering financial institutions to facilitate tangible environmental impact for their customers.
Ekko joins the ranks of other green fintech companies like Tandem and Tred, all committed to providing sustainable financial services.
Source: uktech.news
The post Climate fintech startup Ekko raises £2m appeared first on HIPTHER Alerts.
Latest News
55@Shanghai: International Friendly Guidebook was unveiled worldwide for the first time!
SHANGHAI, May 16, 2024 /PRNewswire/ — To accelerate the development of Shanghai as an international consumption hub, attract more foreign consumers, and expand the market while providing a more diverse and enriching consumer experience, the 55@Shanghai Destination of Shopping global promotion launch ceremony was grandly held on the morning of May 8th, 2024, at the Changning Shanghai Film Art Center.
At the launch ceremony, the 55@Shanghai Destination of Shopping International Friendly Guidebook was unveiled worldwide for the first time. This handbook meticulously outlines Shanghai’s convenient payment methods, diverse experiential venues, city walk routes, and popular exhibition events, among other urban highlights.
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It includes over 1000 featured popular shops, 100+ business and leisure experience destinations, and more than 10 international-friendly shopping centers. Covering the finest ‘eat, stay, travel, entertain, and shop’ local recommendations in Shanghai, the handbook aims to facilitate international connectivity for Shanghai’s business, tourism, and cultural brands.
In the 55@Shanghai International Friendly Guidebook, strategic partners including Bank of China, China UnionPay, China Eastern Airlines, Airport Group, and Ctrip jointly announced activities related to 55@Shanghai Destination of Shopping. Bank of China Shanghai Branch will launch the ‘Blooming Love Shopping Shanghai’ themed event, collaborating with thousands of merchants to offer payment discounts, consumer gifts, credit card points redemption, and other series of promotions.
Additionally, they will introduce a profit-sharing activity called ‘National Trend Pavilion’ on their mobile banking platform. China UnionPay will roll out the ‘Splendid China 5.5 Shopping’ promotion with an investment of 100 million RMB, focusing on eight major scenes including dining, accommodation, transportation, travel, shopping, entertainment, medical, and education. For the 2.3 billion UnionPay cards issued overseas, they will also provide a 200 million RMB rebate on transaction fees.
China Eastern Airlines will introduce convenient measures and attractive products, offering over 550,000 tickets to boost traffic and provide travelers with convenient travel solutions. The Airport Group will set up one-stop service areas at the arrival passenger routes, luggage collection areas, and public areas, enhancing the level of convenience services for inbound travelers and launching various activities and benefits to comprehensively promote the quality and efficiency of consumption in Shanghai. Ctrip Group has planned the ‘Shanghai Express’ exclusive half-day free tour for inbound tourists.
To better convey the charm of 55@Shanghai Destination of Shopping to the world, the 55@Shanghai International Friendly Guidebook has brought together several outstanding companies to become global promotion partners. At the launch ceremony, 15 companies including Bailian Group, Shanghai Metro, Foreign Investment Association, Shanghai Design Week, Tencent Group, and Meituan were honored with the inaugural 55@Shanghai Destination of Shopping Global Promotion Partner title. These global promotion partners will further enhance domestic and international publicity efforts to attract tourists from around the world to experience the 55@Shanghai Destination of Shopping series of activities, jointly contributing to the creation of a friendly and convenient consumer environment.
55@Shanghai Destination of Shopping is the core project of this year’s Shanghai 55 Shopping Festival. Leveraging Shanghai’s position as a global hub for tourism, culture, and sports, it actively expands domestic and international visitor flows. With the theme of ‘Come, Explore, Shop’, the event offers a variety of combined services to help build an internationally friendly consumer environment.
It gathers the distinctive highlights of Shanghai’s business, tourism, and cultural sectors, attracting domestic and international tourists to experience new consumption landmarks, scenes, and formats in Shanghai through precise domestic and international promotion.
Through methods such as the multilingual 55@Shanghai Destination of Shopping international-friendly guidebook, promotion on landmark screens in major cities worldwide, and collaboration with businesses to launch supporting activities, the event has created a key activity matrix for 55@Shanghai Destination of Shopping.
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View original content:https://www.prnewswire.co.uk/news-releases/55shanghai-international-friendly-guidebook-was-unveiled-worldwide-for-the-first-time-302148343.html
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