JPMorgan Chase & Co. is offering to reimburse Hong Kong employees up to $5,000 to compensate for their quarantine stay as the financial hub sticks to its zero-Covid policy.  All Hong Kong-based employees who are executive directors and below may claim the amount for a single quarantine stay for personal trips to visit immediate family members, which includes spouses, domestic partners, children, parents and grandparents, according to an internal memo. A Hong Kong-based spokeswoman confirmed the content.

A group of 11 national and subnational governments announced at the COP26 climate conference on Thursday the launch of the Beyond Oil & Gas Alliance (BOGA), aimed at delivering a managed transition away from oil and gas production and setting an end date for exploration. Most major economies and oil producing countries held back from joining the coalition, however, highlighting one of the key barriers to international consensus on climate action.Led by Costa Rica and Denmark, the group’s core members also include France, Greenland, Ireland, Quebec, Sweden and Wales. Core members commit to end new oil and gas production and exploration concessions, licensing or leasing rounds and to set a Paris-aligned date for ending oil and gas production and exploration. The initiative has a tiered...

South Korean automobile manufacturer Kia announced today the launch of its corporate vision to become a “Sustainable Mobility Solutions Provider”, unveiling a series of new sustainability commitments, including a target to achieve carbon neutrality throughout its value chain by 2045, along with plans to shift to renewable energy use at all manufacturing sites and electrify its fleet over the coming years.To reach carbon neutrality, Kia aims to reduce 97% of the company’s 2019 level of carbon emissions by 2045, offsetting the remaining emissions. The new pledge is based on three key pillars, including Sustainable Mobility, Sustainable Planet, and Sustainable Energy, which will guide the company in its efforts to reduce carbon emissions from the supply, logistics, vehicle production, a...

Green business is booming, from electric cars to petroleum-free laundry detergent to organic bamboo pajamas. The green economy now accounts for $1.3 trillion a year in revenue and the market for environmentally friendly products is growing at seven times the rate of conventional products. From 2015 to 2019, more than half the growth in consumer packaged goods—a category that includes a wide range of food items, household products, and toiletries—was from products marketed as sustainable. And companies are not solely relying on their own expertise anymore but are soliciting the help of their supply partners in developing sustainable products. The payoff can be significant, yielding not only greater environmental benefits but also economic gain.ADVERTISEMENTWhile...

U.S. insurers are increasingly listening to demands from stakeholders that they use social, environmental and governance factors in their decision-making.According to an AM Best survey, 6 in 10 companies are aware of greater demand from stakeholders to consider ESG factors as they make decisions. While the U.S. is still behind Europe in terms of ESG integration, AM Best said the results are still noteworthy, and that U.S. carriers should consider how to most effectively put ESG factors into practice.“Survey results show that insurers believe there are risks to ignoring stakeholder pressures related to ESG factors, and particularly with regard to diversity and inclusion, carriers generally view corporate governance as key to managing and mitigating reputational risk,” Rosemarie Mirabell...