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Shanghai Electric Releases ESG Report, Highlighting Sustainable Development Achievements in 2023
- Consumption of standard coal is cut by 3,234 tons, with CO2 emissions reduced by 8,409 tons. Water usage decreased by 40%.
- The Company’s investment in environmental protection increased to 70 million RMB.
- Shanghai Electric continues to lead in green technology, achieving multiple breakthroughs in low-carbon technological innovation, with investment in R&B hitting a five-year record high.
SHANGHAI, April 28, 2024 /PRNewswire/ — Shanghai Electric (SEHK:2727, SSE:601727) announced that the Company has published the 2023 edition of its Environment, Social, and Governance report, which highlights its latest efforts in driving toward sustainability across its corporate operations throughout the year. The newest report, the eighth since its first one that was released in 2016, offers an overview of Shanghai Electric’s technological milestones in its three major business areas – energy equipment, industrial equipment, and integrated services – through which the Company helps facilitate green, low-carbon transformation in countries such as China, Pakistan, and the United Arab Emirates.
“At Shanghai Electric, we prioritize innovation in green technology, accelerating low-carbon development while zeroing in on eco-investing as part of our effort to strengthen our role in tackling global climate issues. Last year has seen us expand cooperation for green projects spanning transportation, energy, and infrastructure, helping spur economic growth with minimal environmental impact. In 2023, Shanghai Electric continued to take actions to support the United Nations’ 2030 Agenda for Sustainable Development, fostering international exchange on the climate crisis by supporting COP28 and making an effective contribution to decarbonization,” said Wu Lei, Chairman of Shanghai Electric.
Significant Headway Towards Sustainability Driven by Tech Innovation
Over the past year, Shanghai Electric has ramped up investment to develop new technology and products for driving decarbonization and global climate protection. In 2023, the Company’s spending on research and development (R&D) hit 5.381 billion RMB, the highest in the past five years. Shanghai Electric’s latest venture in heterojunction (HJT) technology and N-type bifacial modules has bolstered its solar product portfolio, with the percentage of R&B investment increasing to 33.5%. The launch of a range of new products in 2023, which includes the 16MW offshore wind turbine powered by the Poseidon platform, the 500kW containerized vanadium liquid flow energy storage system, and the 2000Nm3/H Alkaline electrolyzer, has further boosted Shanghai Electric’s technological prowess. The R&B endeavors enabled the Company to acquire 2,931 patents.
“2023 marked a year of innovation for Shanghai Electric. We believe that technology is the primary productive force that drives our business forward, so we are strengthening our position in the green energy industry, focusing on the development of energy equipment, industrial equipment, and integrated services to promote industrial transformation and upgrading,” said Liu Ping, President of Shanghai Electric.
In 2023, Shanghai Electric leveraged its strategic advantages and industry expertise to provide green solutions for more energy and industrial companies, contributing to low-carbon green transformation and development. Shanghai Electric participated in the construction of the world’s first fourth-generation nuclear power station and an ultra-supercritical double reheat coal-fired generator unit that refreshes the world’s record for its low coal consumption. In addition, Shanghai Electric’s landmark project, the world’s first floating wind-fishery integration project, was completed in the year, with its solutions empowering green transformation for China, the United Arab Emirates, Pakistan, Serbia, Malaysia, the United Kingdom, Uzbekistan, and more.
Diverse Professional Pathways Empower Employee Career Development
Shanghai Electric continuously enhances learning and career advancement opportunities for its workers, providing upskilling and reskilling programs to benefit its employees. The Company fosters a culture of inclusivity, ensuring the continuous growth and adaptability of its workforce in a rapidly changing global landscape. In 2023, the Company organized seminars and training programs for middle-aged and young managerial and technical workers, issued a white paper on occupational health management, took measures to strengthen awareness of workplace safety, and hosted an array of activities designed to enrich employee experiences and improve their employability.
Supporting Community Development and Improving Local Livelihoods
In 2023, Shanghai Electric invested 30.433 billion RMB in supporting rural construction in China with donations made by the Company and its subsidiaries to enhance local infrastructure and livelihoods, reaching 5.088 million RMB. In Dubai, Shanghai Electric worked with local communities to develop an HSE (Health, Safety, and Environment) management system with the aim of improving the ecological environment and biodiversity in areas near the Mohammed bin Rashid Al Maktoum Solar Park.
For communities near the Thar integrated coal mine and power project in Pakistan that were affected by natural disasters, Shanghai Electric provided air conditioners, and computers, and built a 10,000-square-meter hospital, which is dubbed a “mobile hospital” by local residents. During Eid al-Fitr 2024, Shanghai Electric also donated foods and vegetables to neighboring villages as part of its initiative to connect local communities and promote multiculturalism.
Please visit https://www.shanghai-electric.com/listed_en/upload/resources/file/2024/04/28//101437.pdf to read more of the report.
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KuCoin Research Report Reveals: $1 Billion in Financing and Rising Stablecoin Issuance Amid Market Fluctuations
VICTORIA, Seychelles, May 14, 2024 /PRNewswire/ — KuCoin’s latest monthly research report observed the cryptocurrency market’s resilience and adaptability amidst shifting dynamics. Although the market sentiment was moderated, the stablecoin sector demonstrated robust growth. The issuance of major stablecoins like USDT and USDC increased by $6 billion and $868 million respectively, signaling steady capital inflows and sustained investor interest in the crypto sector, with the total financing scale reaching 1.024 billion, maintaining a relatively high level.
Despite some adjustments, the Assets Under Management (AUM) for the US Bitcoin spot ETFS and the open interest in BTC futures and options exhibited stability, contributing to a balanced fear and greed index throughout the month. This reflects a matured investor response to evolving economic indicators and central bank policies.
The report also noted a positive trend in Ethereum Layer2 solutions, where despite a challenging broader market environment, there was slight growth in Total Value Locked (TVL) measured in Ethereum. This underscores the ongoing innovation and resilience within key blockchain ecosystems.
KuCoin remains committed to providing the crypto community with comprehensive insights and analysis, helping investors navigate the complexities of the cryptocurrency market with confidence. The full report can be accessed here for detailed insights and further information.
About KuCoin Research
KuCoin Research is a leading provider of research and analysis in the cryptocurrency industry. With a team of experienced analysts and researchers, KuCoin Research aims to deliver high-quality insights and reports to empower investors and industry professionals.
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MENA Fintech Association Sets Sights on EU Expansion, in Partnership With Hungarian Fintechs
The MENA Fintech Association, a non-profit organization dedicated to supporting fintech startups and established players across the Middle East and Africa, is expanding its reach to Hungary through a memorandum of understanding (MOU) with the Hungarian Fintech Association.
This collaboration aims to strengthen ties and promote innovation within the fintech ecosystems of both MENA and Hungary, marking a significant step forward in fostering cross-border collaboration and knowledge exchange. With a shared vision to create an environment conducive to fintech growth and development, both associations are committed to leveraging their networks, resources, and expertise.
Zoltán Ács, president of the Hungarian Fintech Association, highlighted the objectives of the collaboration, emphasizing plans for joint initiatives such as events, knowledge-sharing sessions, and collaborative projects. Moreover, the partnership aims to support fintech startups and scale-ups by providing them access to new markets, investment opportunities, and regulatory insights.
Established in 2020, the Hungarian Fintech Association has grown to over 50 members, serving as a platform for decision-makers, regulators, and financial institutions to understand the local fintech sector and its requirements. It also offers support and services to international members entering the Hungarian market, along with educational and networking opportunities.
The MOU, signed during the Dubai Fintech Summit, signifies a landmark agreement between the two associations. Nameer Khan, chairman of the MENA Fintech Association, expressed excitement about the partnership, aiming to unlock new opportunities for fintech firms in both regions and drive impactful collaboration.
Through mutual cooperation, Hungarian fintech companies can conduct business more easily in MENA countries, fostering growth in the international fintech ecosystem. Founded in 2018, the MENA Fintech Association has been recognized as one of the top four fintech organizations globally, playing a leading role in driving innovation and collaboration in the industry.
Source: thefintechtimes.com
The post MENA Fintech Association Sets Sights on EU Expansion, in Partnership With Hungarian Fintechs appeared first on HIPTHER Alerts.
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Synechron Acquires iGreenData, a Digital Engineering Organization Headquartered in Melbourne, Australia
This acquisition enables Synechron to enhance its technological capabilities, broaden its service offerings, and expand its coverage to the Australian market.
SYDNEY, May 13, 2024 /PRNewswire/ — Synechron, a leading global digital transformation consulting firm focused on financial services and technology organizations, announced its acquisition of iGreenData, a modern, data-centric digital solutions company founded in 2018. iGreenData, headquartered in Melbourne with an additional office in India where Synechron has a significant presence, specializes in cloud-enabled data and digital engineering. The company serves a diverse array of blue-chip clients and has high domain expertise in the banking and financial services sectors, along with strengths in full-stack, DevOps, cloud, data engineering, automation, and blockchain. The acquisition of iGreenData was completed on May 13, 2024.
This acquisition enhances Synechron’s leadership in digital transformation by combining their agile, creative approach with iGreenData’s specialized skills in cloud technology and lean data engineering practices. The integration adds to Synechron’s payments capabilities in delivering customized solutions that achieve substantial business outcomes, while continuing to swiftly and effectively meet their clients’ evolving needs.
Moreover, the acquisition expands Synechron’s global reach. By leveraging Australia’s strategic location, Synechron is better positioned to provide continuous support across time zones in Asia, the Americas, and Europe.
Faisal Husain, Synechron Co-Founder and CEO, commented, “We’re thrilled to welcome iGreenData into the Synechron family. This acquisition will enable us to continue deepening our payments technological strength and expand our footprint to the Australian market. Together, we will leverage our combined expertise in digital transformation and innovation to deliver value-added solutions that meet the evolving needs of our clients.”
Max Sundaram, iGreenData Co-Founder and CEO, said, “We’re very excited to become part of the Synechron team. With their global reach and our shared commitment to excellence, we’re well positioned to provide the best-in-class transformative digital experiences.”
About Synechron:
At Synechron, we believe in the power of digital to transform businesses for the better. Our global consulting firm combines creativity and innovative technology to deliver industry-leading digital solutions. Synechron’s progressive technologies and optimization strategies span end-to-end Artificial Intelligence, Consulting, Digital, Cloud & DevOps, Data, and Software Engineering, servicing an array of noteworthy financial services and technology firms. Through research and development initiatives in our FinLabs we develop solutions for modernization, from Artificial Intelligence and Blockchain to Data Science models, Digital Underwriting, mobile-first applications and more. Over the last 20+ years, our company has been honored with multiple employer awards, recognizing our commitment to our talented teams. Synechron has a global workforce of 14,000+ and has 51 offices in 20 countries in key global markets. For more information on the company, please visit our website or LinkedIn community.
About iGreenData:
Headquartered in Melbourne, Australia, and with presence in India, iGreenData is a fast-growing digital engineering organization with a prime focus on Cloud First, Data-Centric Digital Engineering and Blockchain offerings. The team is at the forefront specializing in cutting-edge modern software engineering technologies with a commitment to ensure our solutions and services bring value to our customers.
iGreenData brings deep Banking industry knowledge, with decades of Leadership experience and track record of success in Australia, delivering large complex programs, and a highly capable team to deliver industry-leading experiences for our customers. With close to 200 strong professionals, we set out to bring together talented individuals who are encouraged in their creativity and empower them to deliver new technological solutions to our stakeholders.
iGreenData was ranked third in Rising Star category at the prestigious Deloitte Technology Fast 50 Australia awards for 2 years in a row in 2020 & 2021 and also was inducted to nineteenth place at the prestigious CRN Fast 50 Australia 2021 as recognition of the exponential growth over 3 years.
For more information on the company, please visit our website.
For more information please contact:
Rashmi Joshi,
Synechron
+91-9560694654
[email protected]
[email protected]
OR
Zoe Forbes-Pyfrom
(+44) 7718 599666
[email protected]
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