Shanghai Electric Releases Corporate Social Responsibility 2
Oil reverses losses to resume climb as Dollar pares gain
SHANGHAI,June 1, 2022/PRNewswire/ -- Shanghai Electric has announced the release of its annual Corporate Social Responsibility (CSR) Report 2022, highlighting the Companys performance and achievements in Environmental, Social, and Governance (ESG) in the fiscal year 2021.
This is Shanghai Electrics 13th CSR report as the Company continues to advance its pledge to improve its transparency around its ESG practices and strengthen its commitment to expediting the global energy transformation with its green strategy. The report features Shanghai Electrics technological innovations that drive the development of its three key business sectors energy equipment, industrial equipment, and integrated services as well as outlines its significant progress in implementing its low-carbon strategy to address global climate-related issues. The report also includes a host of initiatives launched by Shanghai Electric to upskill employees and college graduates as part of its efforts to unlock their career potential and build a future-ready workforce for the energy sector.
Global businesses continue to grapple with the negative impact imposed by the ongoing pandemic which has stalled progress in rejuvenating the world economy, hindered international cooperation, and blunted efforts to tackle climate change. In the face of a confluence of global challenges, Shanghai Electric has set its priorities on low-carbon technologies and digital transformation as we strive to become a leader and innovator in the new energy sector, Shanghai Electric wrote in the report.
Empowering the Future with Technological Breakthroughs
To deliver innovative and reliable technology and climate change solutions across the energy ecosystem, Shanghai Electric has ramped up investment in its offshore wind business while strengthening its R&D capability to drive innovation for energy storage. With digitalization, automation, and sustainability serving as the growth engines for its business, Shanghai Electric has also built on its state-of-the-art technologies for industrial equipment to develop automation and systematic solutions for smart energy, intelligent manufacturing, and smart infrastructure. In terms of integrated services, the Company is accelerating its efforts to transform its business model to push the servitization of its products.
Incorporating ESG as a Core Section of Its Business Operation
To enhance its continued endeavor to optimize its ESG oversight and management, Shanghai Electric has formed a dedicated ESG committee tasked with setting up the Companys general strategy with respect to ESG issues, assessing the risks of its business operation to the environment, as well as evaluating its ESG performance and progress.
Against the backdrop ofChinascarbon neutrality and peak carbon goals, Shanghai Electric is responding to the transition to renewable energy with innovative business solutions and outfitting its products with energy-saving technology to help drive down carbon emissions. Shanghai Electric is also working with its partners to establish a green supply chain, holding the highest standards to ensure every stage of a product from designing and manufacturing to operation and maintenance is responsibly implemented.
The report also offers detailed information on Shanghai Electrics measures to combat environmental issues, as well as data about its reduction in energy consumption, greenhouse gas emissions,water consumption, pollutants and waste emissions, in line with its ambition to become a holistically sustainable company in the coming decades.
Speeding Up Green Transformation to Enable a Sustainable Tomorrow
Shanghai Electric is accelerating the development and application of low-carbon technologies including hydrogen energy, energy storage, and carbon capture while leveraging its business advantages to promote the development and construction of new energy projects. Meanwhile, the Company is constantly improving the blueprint and roadmap for its renewable solutions and services to boost consumption capacity for new energy.
Shanghai Electric has bolstered theUnited Arab Emiratesin its effort to help the country achieve green energy transition by building the Dubai Photovoltaic Energy Storage Station. Equipped with a 400KW photovoltaic system and a 1MWh-class battery energy storage system, the project replaces diesel generators used in Shanghai Electrics offices inDubaiwith renewable energy sources.
Empowering the Next Generation of Electrical Engineers with Upskilling Programs
Equity is an integral part of Shanghai Electrics corporate culture, and the Company actively promotes diversity, equity, and inclusion by creating a working environment that is open and appreciative to all. Shanghai Electric creates a workspace where all employees can self-determine their own career pathways and offers channels and platforms for them to showcase and develop their professional skills. In 2021, Shanghai Electric was named one ofChinasBest Employers by Forbes, ranking 15th on the list.
To enable employees to enjoy equal opportunities and fulfill their potential, Shanghai Electric has set up vocational education and training programs for workers. In a format tailored to the needs of employees across multiple business sectors, the in-house training program aims to satisfy peoples different interests and special requirements, facilitating their career growth. Shanghai Electric is also committed to youth development by partnering with universities and educational institutions to offer a series of offline training programs designed to foster the employability of university students.
Leading the Development ofChinasEnergy Sector
To create spaces with an aim to bring together industry leaders to exchange ideas, strengthen business partnerships and discuss opportunities and challenges facingChinasenergy industry, Shanghai Electric hosted a series of forums, lectures and symposiums in 2021 that invited 72 industry experts and attracted over 700 domestic researchers. Those nationwide events saw companies debut 103 projects and ink 22 agreements. In addition, Shanghai Electric spent 3.4% of its total revenue on research and development in 2021, with expenditure on R&D for key technologies and equipment increasing year by year.
3 Dividend Stocks Long-Term Investors Shouldnt Sleep on
Canadian dollar posts 7-week high as rate hike bets climb
TFSA Investors: These 3 Stocks Are Must-Haves in Your Portfolio
3 UNDERVALUED TSX Stocks to Buy in These Uncertain Markets
Revealed: Top Energy Stocks to Hedge Your TFSA
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting
U.S. senators unveil bill to regulate cryptocurrency
A bipartisan pair of U.S. senators unveiled a bill on Tuesday that would establish new rules for cryptocurrency, and hand the bulk of their oversight to the Commodity Futures Trading Commission (CFTC). The bill, introduced by Republican Senator Cynthia Lummis, one of Congress most vocal cryptocurrency advocates, and Democratic Senator Kirsten Gillibrand, marks one of the most ambitious efforts yet by lawmakers to place clear guard rails around rapidly growing and controversial cryptocurrency markets. The measure would stipulate that the CFTC, not the Securities and Exchange Commission, play the primary role in regulating crypto products, most of which the senators said operate more like commodities than securities.
TORONTO Canadas main stock index inched higher to start the week with bond yields climbing to their highest level in more than three years on inflation concerns. The S&P/TSX composite index was up 28.36 points at 20,819.09. In New York, the Dow Jones industrial average was up 16.08 points at 32,915.78. The S&P 500 index was up 12.89 points at 4,121.43, while the Nasdaq composite was up 48.64 points at 12,061.37. The Canadian dollar traded for 79.59 cents US compared with 79.50 cents US on Fri
Canadas main stock index fell on Tuesday, weighed by technology and material shares, as investors awaited U.S. inflation data and the European Central Bank meeting to gauge the path of monetary policy. At 9:46 a.m. ET (1346 GMT), the Toronto Stock Exchanges S&P/TSX composite index was down 59.31 points, or 0.28%, at 20,759.78. Technology group fell 1%, as the U.S. tech-heavy Nasdaq index was pressured by U.S. Treasury yields, which hovered near 3-1/2-week highs hit in the previous session.
Shopify Inc. shareholders voted to solidify founder and CEO Tobi Ltkes voting power for as long as he is at the company andensurehe, his family and affiliates will hold 40 per cent of the companys voting power. The approval received Tuesday at the Ottawa e-commerce companys annual general meeting ushered in a new corporate governance structure to grant Ltke non-transferable founder shares. The founder share will sunset if Ltke no longer serves as an executive officer, board member or consu
LONDON (AP) British Prime Minister Boris Johnson may have survived a no-confidence vote, but his grip on power is far from secure. Many compare his position to that of his predecessor Theresa May, who won a similar vote by a larger margin than Johnson but was nonetheless ousted six months later. The history for prime ministers who survive confidence votes isnt that great, said Tim Bale, professor of politics at Queen Mary University of London. A look at how previous Conservative prime minis
Cybenergie announced the integration of DPOsolutions, audit, DPOaaS, CISOaaS, consulting services, specialized in information security, privacy and personal data protection, into its portfolio of services that improve the efficiency of the business and technical architecture of public and private organizations. DPOsolutions, with its expertise in data protection technologies remains independent and becomes a partner of Cybenergie. Cybenergies new cybersecurity and privacy services will be opera
SYDNEY (Reuters) -An Australian court on Monday ordered Google to pay a former lawmaker A$715,000 ($515,000), saying its refusal to remove a YouTubers relentless, racist, vilificatory, abusive and defamatory videos drove him out of politics. The Federal Court found the Alphabet Inc company intentionally made money by hosting two videos on its YouTube website attacking the then-deputy premier of New South Wales, Australias most populous state, that have been viewed nearly 800,000 times since being posted in 2020. The ruling revives the question of how much culpability technology firms have for defamation conveyed by users on their websites in Australia, one of few Western nations where online platforms have the same legal responsibility as publishers.
Citigroup Inc plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region where it has exited consumer banking in most markets, its Asia Pacific chief executive said. The previously unreported staff expansion plans underline Citis ambition to make institutional banking and wealth management engines of growth, seeking to bolster revenue in a region that has become a battleground for global banks looking to tap its vast economies and growing wealth. Citis institutional business includes investment banking, and corporate and commercial banking units that provide trade finance, cash management, payments, and custody services, among others.
On June 8 and 9, Canadian Space Agency (CSA) astronaut Joshua Kutryk will be in Edmonton, sharing about space exploration and his life as an astronaut.
NEW YORK (Reuters) -Amazons stock split may provide some solace to shareholders who have seen the e-commerce giants shares battered this year. Amazon shares were up 3.1% to $126.17 in afternoon trading after the 20-for-1 split, announced earlier this year but which took effect Monday. While a split has no bearing on a companys fundamentals, it could help buoy its share price by making it easier for a wider range of investors to own the stock, market participants said.
The U.S. dollar index retreated from earlier highs and fell on Tuesday as Wall Street stocks erased initial declines amid growing hopes that inflation may have peaked, but the greenback managed to hit its highest level in 20 years against the Japanese yen. Longer-dated U.S. Treasury yields, which hit a 3-1/2 week high overnight on concerns the Federal Reserve will continue on its aggressive rate hike path as it seeks to combat inflation, also eased as a tapering off of inflation could slow the central banks hiking plans. The market is pricing in that the Fed is going to do almost all of what it says it is going to do, but that being said you are starting to get this idea that maybe inflation has reached its peak and might be starting to roll over, said Thomas Martin, senior portfolio manager at Globalt Investments in Atlanta, Georgia.
Moneris, the leading provider of retail payment processing in Canada, and Connected Interactive, a leading Canadian supplier of custom audiences for the digital marketing ecosystem, today announced a new partnership to bring highly coveted retail audience data to the Canadian advertising industry. Through CI, with exclusive representation from JSquare2 agency in the Quebec market, Moneris retail purchase audiences will be accessible to Canadian marketers in a collaboration that has been anticipa
Chinas services activity contracted for a third straight month in May, pointing to a slow recovery ahead despite the easing of some COVID lockdowns in Shanghai and neighbouring cities, a private business survey showed on Monday. The Caixin services purchasing managers index (PMI) rose to 41.4 in May from 36.2 in April, edging up slightly as authorities began to roll back some of the strict restrictions that have paralysed the financial city of Shanghai and roiled global supply chains. Analysts say weakness in the services sector, which accounts for about 60% of Chinas economy and half of urban jobs, is likely to persist under the governments zero-COVID policy, with contact-intensive sectors such as hotels and restaurants bearing the brunt of the fallout.
Industry leaders with great records of dividend growth look attractive right now for TFSA investors focused on passive income. The post 2 Great TSX Dividend Stocks to Buy for TFSA Passive Income appeared first on The Motley Fool Canada.
The United States has asked Mexico to probe alleged worker rights violations at an auto-parts plant owned by Italian-French carmaker Stellantis, the fourth such complaint under a revised trade deal, U.S. officials said on Monday. The U.S. request for Mexico to examine possible abuses at Teksid Hierro de Mexico in the northern border state of Coahuila comes under the 2020 United States-Mexico-Canada Agreement (USMCA). Workers say the company has blocked them from being represented by the group of their choice, the Miners Union, and that it dismissed workers who backed the group.
There is a way to generate a solid rental income stream without owning and maintaining a property. The post Armchair Landlords: Forget Surging Interest Rates appeared first on The Motley Fool Canada.
As businesses everywhere reassess their supply chains in response to continued global disruptions, OpenText™ (NASDAQ: OTEX), (TSX: OTEX), a leading provider in supply chain integration solutions, is helping power the future of supply chain operations through their latest Business Network Cloud innovations. The company is set to showcase several of their solutions at Gartner Supply Chain Symposium/Xpo™ 2022.
While the past few years have been tough on all of us, our kids have chosen to see our worldwide challenges as opportunities. Inspired by recent world issues including health and environmental challenges nine Canadian kids have become finalists in a global design competition, each of them designing a unique vehicle to help make the world a better place.
With protests planned for Saturday after the mass shootings in Uvalde, Texas, Tulsa, Oklahoma, and Buffalo, New York, gun control advocates hope to intensify pressure on Congress to pass laws and additional funding for research to help curb the growing violence. And they say theyre prepared to use philanthropic money and their own fundraising to support their advocacy until public attention forces meaningful changes. Noah Lumbantobing, a spokesman for March for Our Lives, says hes seen the str
Icahn is withdrawing his nominees to Krogers board, he said in a statement to shareholders of both the companies. The activist investor nominated two directors to the supermarket chains board in March, a month after taking on McDonalds. Icahn has criticized the companies for their treatment of animals, saying confining pigs in crates during their pregnancy is inhumane.