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Deutsche Bank helps Huaneng Leasing with sustainable trade finance aligned to China’s Common Ground Taxonomy

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Deutsche Bank helps Huaneng Leasing with sustainable trade finance aligned to China’s Common Ground Taxonomy

Deutsche Financial institution introduced that it has helped Huaneng Tiancheng Monetary Leasing Co., Ltd (“Huaneng Leasing”) launch a 3-year CNY187 million account receivable financing facility.

The deal marks Deutsche Financial institution’s first sustainable commerce finance transaction aligned to the Frequent Floor Taxonomy (CGT), with the Use of Proceeds to finance Huaneng Leasing’s direct leasing for 2 wind energy growth tasks in China. This transaction falls below State of affairs 1 outlined within the CGT with clear overlaps between EU and China inexperienced taxonomies that may be thought-about comparable inside the scope/for the aim of the CGT  . The transaction additionally aligns to UN Sustainable Growth Objectives 7 and 9, associated to Renewable Power and Infrastructure growth.

“Huaneng Leasing has been a long-standing consumer of Deutsche Financial institution China, with a transparent dedication to offering complete monetary companies that help clear vitality growth. We’re honored to behave because the lender in financing Huaneng Leasing and these essential clear vitality tasks. The transaction demonstrates how we help our purchasers’ sustainability transition by harmonizing the various inexperienced finance requirements between totally different markets”, stated Peter Qiu, President of Deutsche Financial institution China. “Leveraging our experience and expertise in ESG and inexperienced finance framework design, Deutsche Financial institution is uniquely properly positioned to assist purchasers in China to attain their ESG targets.” 

Upon completion, whole inexperienced electrical energy capability of the 2 wind energy tasks would attain 100MW altogether, producing 270m kWh inexperienced electrical energy per yr which shall cut back over 0.226m tCO2e. of GHG per yr.

The underlying wind farm tasks have additionally been partially financed by senior money owed from Asian Growth Financial institution (ADB) below the multilateral establishment’s Inexperienced Financing Platform, following ADB’s Environmental and Social Administration System (“ESMS”) necessities.

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“Profitable execution of ESG transactions in China which meet international ESG requirements is crucial for bridging the remaining gaps between Chinese language ESG   requirements and worldwide ESG taxonomies,” stated Kamran Khan, Head of ESG for Asia Pacific at Deutsche Financial institution.  “That is essential for Asia and the worldwide ESG market as a result of China’s inexperienced finance market is likely one of the largest on this planet.  This Huaneng Leasing transaction exemplifies Deutsche Financial institution’s give attention to executing world-class, benchmark-setting ESG transactions in Asia.”     

Deutsche Financial institution had dedicated to facilitate 200 billion Euros in sustainable financing and funding by the top of 2025 however has now turn into extra formidable, bringing the goal ahead to yr finish 2022, after the financial institution already reached 157 billion Euros by the top of 2021.

Jinyan Wang, Vice President of Tiancheng Monetary Leasing stated: “With the imaginative and prescient of being a robust practitioner and one of the best performer within the industrial finance sector, we’re dedicated to the constant innovation and growth of a complete monetary service mannequin for the clear vitality trade. Driving on the development of narrowing gaps between China’s inexperienced finance guidelines and worldwide requirements, we proceed to advertise the mixing of our inexperienced finance practices with home and international inexperienced finance requirements. We’re additionally deeply concerned in constructing the inexperienced leasing system, proactively collaborating within the main inexperienced finance requirements programs globally, and exploring alternatives in sustainable growth and ESG. Along with companions equivalent to Deutsche Financial institution, Tiancheng Leasing will proceed selling the sustainable growth of the clear vitality trade by carefully integrating trade experience with modern monetary merchandise. ”

Worldwide buyers have been delicate to variations in requirements and approaches to inexperienced financing in international markets, and have sought extra readability and a unified method. With the intention to tackle this want, the Frequent Floor Taxonomy- (CGT) was revealed by the Worldwide Sustainable Finance Platform (IPSF) Taxonomy Working Group Co-chaired by the EU and China in November 2021. The CGT is a key milestone in offering readability concerning the commonality and variations between the EU’s and China’s inexperienced taxonomies. It’s anticipated to play a pivotal function in growing comparability of sustainable finance taxonomies and definitions of inexperienced and/or sustainable actions globally.

For additional data, please contact:

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Deutsche Financial institution AG

Media Relations

Flora Tian

Tel. +86 10 5969 8617
E mail flora.tian@db.com

 

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Stocks rise, S&P 500 set to break losing streak: Yahoo Finance

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Stocks rise, S&P 500 set to break losing streak: Yahoo Finance

The S&P 500 is set to end its 5-day streak of losses. The major indexes (^DJI,^GSPC, ^IXIC) are all trading higher thanks to big-name tech stocks like Nvidia (NVDA) and Tesla (TSLA). One stock that is trading lower is US Steel (X), which fell sharply after President Biden announced he will block Nippon Steel’s (NPSCY) purchase of the company. Other trending tickers on Yahoo Finance today include Rivian Automotive (RIVN), Adobe (ADBE), and Oklo (OKLO).

Key guests include:
3:05 p.m. ET – Ahmed Riesgo, Insigneo Chief Investment Officer
3:15 p.m. ET – Brian Gardner, Stifel Chief Washington Policy Strategist
4:00 p.m. ET – David Miller, Catalyst Funds Co-Founder, Chief Investment Officer and Senior Portfolio Manager
4:35 p.m. ET – Rachel Tipograph, MikMak, founder and CEO

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Tesla to Announce Q4 2024 Financial Results on January 29, 2025

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Tesla to Announce Q4 2024 Financial Results on January 29, 2025

Tesla (NASDAQ:TSLA) is planning to report its Q4 2024 results displaying their net income and cash flow of the business’s profitability and financial position on January 29, 2025 after market close.

Tesla experienced different stock price fluctuations, as market responses, between 9% and 22% within one day after releasing the results.

Tesla to Announce Q4 2024 Financial Results on January 29, 2025

Tesla’s management will also give their 2025 guidance such as production, models, technology including Full Self-Driving (FSD).

The one-year price targets for Tesla given by 45 analysts are USD 278.47 at the average while ranging from as high as USD 515.00 and the lowest at USD 24.86. The average target is -26.58% from the current price at $379.28.

GuruFocus calculates the GF Value for Tesla one year ahead to be at $298.99 which indicates the stock to be overvalued -21.17% from the current price $379.28.

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You can make more informed investment decision by visiting GuruFocus now and deep dive into Tesla’s performance with charts, breakdowns, 30-year financial data, and more!

This article first appeared on GuruFocus.

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State lawmaker hopes to close campaign finance loophole in 2025 legislative session

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State lawmaker hopes to close campaign finance loophole in 2025 legislative session

SIOUX FALLS, S.D. (Dakota News Now) – A South Dakota lawmaker has filed multiple pieces of legislation he says could help address government accountability.

Senate Bill 12 would limit the amount of money that may be loaned to a candidate or a political action committee (PAC).

Sen. Michael Rohl (R) of Aberdeen hopes that the bill will close a loophole in the South Dakota campaign finance world.

“PACs shouldn’t be personal checking accounts for the ultra-wealthy to be able to buy politicians,” Rohl said.

Currently, South Dakota law limits contributions to a candidate and a PAC at $1,000 and $10,000 respectively.

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However, the state allows unlimited loans, which can be forgiven as bad debt.

“We don’t have campaign finance laws in South Dakota. We just have them for people that are everyday citizens that are trying to follow the spirit of the law, but the bad actors don’t have to follow them,” Rohl said.

Rohl wants to limit the loans to the $1,000 and $10,000 figures that are used for contributions.

In the midst of several fraud investigations amongst state employees, Senator Rohl says accountability in all parts of government is desperately needed.

“I think politicians for a long time have been saying we want to have more transparency in government, but nothing seems to happen so I’m drafting legislation and trying to be true to what I told people I represent I would do.”

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But Rohl is very prepared for a lot of pushback.

“There’s going to be some opposition to it and there’s going to be opposition for the very reason that it needs to go away, and that’s because people are going to be afraid to make their donors mad,” said Rohl.

The Aberdeen senator also filed Senate Bill 11, which limits the amount of money that a political committee may accept from an inactive candidate campaign committee.

The 100th legislative session starts on January 14th.

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