RIYADH: Indonesia’s president is in talks with Tesla CEO Elon Musk regarding various investments in the country. Protestors in Suffolk disapprove the building of a nuclear power station, fearing disruptions across various sectors. Elsewhere, the UK chancellor is set to impose taxes on energy giants to shield consumers. Meanwhile, Saudi Aramco plans to create long-term shareholder value through highlighting the firm’s low upstream carbon intensity. Other firms such as the UK’s Foresight Group Holdings Ltd. and HydrogenOne Capital Growth Plc are acquiring stakes in a Germany-based hydrogen utility. Additionally, the ESG Niche is expected to jump 2,000 percent.
Looking at the bigger picture:
· Indonesia’s President Joko Widodo has met Tesla CEO Elon Musk to discuss potential investments in the Asian country’s nickel industry as well as the supply of batteries for electric vehicles, Reuters reported, citing the government.
This comes as Tesla representatives were visiting Indonesia last week to attend meetings regarding a battery-related investment, according to individuals familiar with the matter.
· Hundreds of protestors gathered in Suffolk on Sunday to voice their objections regarding the construction of the Sizewell C nuclear power station, Bloomberg reported.
Protesters are arguing that the building of the nuclear power station will cause complications in terms of transport, water supply, biodiversity, and coastal erosion.
· The UK’s Chancellor of the Exchequer Rishi Sunak will soon impose windfall taxes on energy giants to cushion households from rallying costs of living, Bloomberg reported, citing shadow secretary of state for climate change and net zero Ed Miliband.
· The Environmental, Social, and Governance Niche has been forecasted to grow by 2,000 percent as some of the UK’s most prominent fund managers jump into it with new funds and investment products, Bloomberg reported.
This comes as asset management firm Schroders and insurance firm Aviva among others aim to take advantage of and profit from the increasing demand for biodiversity-focused investment products.
Through a micro-lens:
· Saudi Arabian public petroleum and natural gas company Aramco is planning on creating long-term shareholder value by hammering on low upstream carbon intensity, low lifting costs, and integrated downstream business, Reuters reported, citing the firm’s CEO.
· UK-based capital market firms Foresight Group Holdings Ltd. and HydrogenOne Capital Growth Plc have acquired stakes in German hydrogen utility HH2E AG in addition to co-investing in energy projects, Bloomberg reported.
This comes as the firms aim to help the new company develop green energy projects in Germany and prosper altogether.