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APICORP Launches Its Inaugural Green Bond Framework

DAMMAM, SAUDI ARABIA – EQS Newswire – 22 September 2021 – Green Bond Framework follows the approval of the ESG Policy Framework in April 2021; Reinforces APICORP’s ( www.APICORP.org ) focus on funding of renewable energy and other green projects; Exposure to green assets in lending portfolio more than quadrupled from 2015 to 2020; Paves the way to the issuance of a Green Bond in the near future as one of the first energy focused institutions in the world to do so.

The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution focused on the energy sector in the MENA region, today announced that it has launched its inaugural Green Bond Framework (Framework).

The Framework will serve as a means to raise Green Bonds/Sukuk which reinforce the institution’s commitment to projects that are aligned with its recently approved ESG Policy Framework as well as advance the development of the broader sustainable finance market. In particular, the projects financed, refinanced and/or invested in by APICORP’s Green Bond/Sukuk are also intended to be aligned with the Sustainable Development Goals (SDGs) and will aim to promote climate mitigation and adaptation, the transition to a circular economy, pollution prevention and control and biodiversity preservation.

Notably, the Green Bond Framework is in alignment with the International Capital Market Association’s (ICMA) Green Bond Principles 2021 (GBP). In addition, the Green Bond Framework enjoys a Second Party Opinion (SPO). V.E’s SPO assesses APICORP’s Green Bond program “Contribution to Sustainability” and “Expected Impacts” as “Advanced,” along with a “Coherent” classification vis-à-vis APICORP’s strategic sustainability priorities and sector issues.

Dr. Ahmed Ali Attiga, Chief Executive Officer of APICORP, said: “The energy sector is undergoing an exciting and rapid transition towards a cleaner and more sustainable energy mix. By launching the Green Bond Framework, APICORP is providing new avenues for investment in projects and ventures that further the development of safe, affordable, and renewable energy sources. The Framework reflects our deep understanding of the ESG impact of our investments across the energy spectrum and our commitment to setting out new engagement strategies with our stakeholders to spread awareness of their ESG exposure. This will, in turn, enhance our collective ability to address the challenges posed by climate change.”

Dr. Sherif Elsayed Ayoub, Chief Financial Officer of APICORP, said: “The Green Bond Framework meets our strategic objective of enlarging the share of green financing within our lending and investment portfolios as well as expands the potential for regional and sectoral debt issuers to access the green space. We are particularly pleased with the Second Party Opinion of ‘Robust’ that was provided by V.E, as it confirms our strong willingness and ability to lead the energy transition in the MENA region, and beyond, in a manner that corresponds to global best practices.”

The latest announcement follows the unveiling of APICORP’s ESG Policy Framework and its plans to allocate US $1 billion towards green energy projects and sustainable energy companies over the next two years, which is complemented by a commitment to measure the ESG footprint of all its assets by end of 2023 through active engagement with its stakeholders. Notably, the ESG Policy Framework is underpinned by three core pillars – Responsible Banking and Investing, Social Inclusion and Partnerships, and Financial Resilience and Governance – and is a key element of APICORP’s strategy to formalize and institutionalize its commitment to environmental protection, social responsibility, and robust governance. It also guides how APICORP will go about identifying, measuring, managing, monitoring, and reporting ESG risks and opportunities.

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About APICORP:

The Arab Petroleum Investments Corporation (APICORP) is a multilateral development bank established in 1975 by an international treaty between the ten Arab oil exporting countries. It aims to support and foster the development of the Arab world’s energy sector and petroleum industries. APICORP makes equity investments and provides project finance, trade finance, advisory and research. APICORP is rated ‘Aa2’ with stable outlook by Moody’s and ‘AA’ with a stable outlook by Fitch. APICORP’s headquarters is in Dammam, Kingdom of Saudi Arabia.

More information can be found at: www.APICORP.org

#APICORP

New Indicative Ending Date Set for Sanakham Dam Consultation

The Mekong River in Chiang Khan district, Thailand. (Image: Engdao Wichitpunya / Alamy)
The Mekong River in Chiang Khan district, Thailand. (Image: Engdao Wichitpunya / Alamy)

An MRC governance meeting has agreed to a new indicative date to conclude the prior consultation process of the 684-megawatt Sanakham dam.

Vientiane Capital Signs Off On Flood Protection Project and Public Park

Phase Two of Flood Protection Embankment Project in Vientiane Capital
Construction vehicles work on the embankment project.

The second phase of a flood protection embankment along the Mekong River in Vientiane Capital is to commence next month.

Laos Confirms 222 New Cases of Covid-19

Covid-19 Update

Laos has confirmed 222 new cases of Covid-19 today as the nation’s capital enters its fourth day of lockdown.

Midea Comes Onboard the AFF Suzuki Cup 2020 as Official Sponsor

Enabling 492 million Fans in Southeast Asia to Enjoy the Region’s Premier Football Tournament at Home

GUANGDONG, CHINA – Media OutReach – 22 September 2021 – Midea, one of the world’s leading home appliances producers, has announced its official sponsorship of the ASEAN Football Federation (AFF) Football Championship, also known as the AFF Suzuki Cup 2020, on the day of the official draw. Through supporting millions of football fans to enjoy the matches at home, this partnership is the latest move from Midea to demonstrate its ongoing commitment to Southeast Asian markets.

 

“We are delighted to showcase our commitment to accelerating growth and development in Southeast Asia through enabling millions of football fans to enjoy the AFF Suzuki Cup, one of the most successful football tournaments at home. At Midea, we are committed to integrate the world and inspire the future. Apart from bolstering our brand presence around the region, we also look forward to igniting excitement and bringing people together during this unprecedented time,” said Jackie Huang, General Manager of Asia & Pacific at Midea Group’s International Business Division.

Fandi Ahmad, the Singapore football legend, at the Midea sponsored pre-draw show

 

Due to the pandemic, the tournament has been rescheduled from last year to take place between December 5, 2021 and January 1, 2022. The official draw took place virtually, which spilt ten qualified countries into two groups. Group A: Thailand, Myanmar, Philippines, Singapore, and QR winner (Timor-Leste or Brunei Darussalam.) Group B:  Vietnam, Malaysia, Indonesia, Cambodia, and Laos. Each country will host a minimum of two matches and a maximum of four if they are able to make it to the Finals. The top two teams from each group will advance to Semi-Finals and Finals.

 

As the official sponsor, Midea supported a short pre-and post-official draw show at the tournament. Fandi Ahmad, the Singapore football legend, shared his insights into the tournament history and made predictions for some of the upcoming matches in December.

 

In addition to the shows, Midea will have significant brand exposures and fan engagement opportunities across the region through the sponsorship. The Midea brand will be featured on a series of promotional collaterals and platforms, including the tournament’s digital channels, official tournament materials, in-stadia TV commercials, and perimeter advertising boards in every stadium where a match is held. It will provide Midea with plenty of opportunities to showcase its brand and engage with millions of football fans across the ASEAN markets.

 

Major General Khiev Sameth, AFF President, shared, “We are thrilled to welcome Midea to join us in bringing the game to millions of football fans this year. AFF is devoted to supporting brands to expand their reach and exposure as we enable them to empower football fans with the spirit of unity and passion. We strive to support Midea in fostering connections to create an extraordinary viewing experience for fans around the region at the tournament.”

About AFF Suzuki Cup

The AFF Suzuki Cup is a biennial football competition organised by the ASEAN Football Federation (AFF), accredited by FIFA, and contested by the national ‘A’ teams of Southeast Asia.

In 2020, the 13th edition of the AFF Suzuki Cup will continue the format where 10 qualified teams will be split into two groups of five and play a round robin system, with each team playing four fixtures. The format of the knockout round remains unchanged, with semi-finals and the final played on two-leg format.

www.affsuzukicup.com

About the ASEAN Football Federation (AFF)

The ASEAN Football Federation comprises 12 Member Associations. The main objectives of the ASEAN Football Federation are to develop football in ASEAN through its activities, courses and competitions, to continue to nurture the AFF Suzuki Cup as the premier Football Tournament in Asia and to foster closer relationships between Member Associations in ASEAN and the Regional Federations across Asia.

http://www.aseanfootball.org

About Midea & Midea Group

Midea is one of over 10 brands within the home appliance business of Midea Group – a leading global high-technology company ranked #288 at 2021’s Global Fortune 500. Midea Group’s business goes beyond home appliances and comprises business pillars like Smart Home, Electro-Mechanical, HVAC & Building Technologies, Robotics & Automation, as well as Digital Innovation. All businesses of Midea Group are striving for one credo: #HumanizingTechnology.

Midea Home Appliances brand offers one of the world’s most comprehensive product ranges in the home appliance industry, specializing in air-treatment (commercial and residential air conditioning solutions), refrigeration, laundry, large kitchen and cooking appliances, small kitchen appliances, water appliances, floor care and lighting.

Midea believes in providing surprisingly-friendly solutions by adopting a consumer-centric and problem-solving approach. Going above and beyond for the future, constantly exploring and inventing to meet the ever-changing demand of our consumers.

Midea is, among many others, the world’s #1 Air Treatment Brand [1], the world’s #1 Small Cooking Appliances Brand [2], the world’s #1 Air Coolers Brand [3], the world’s #1 Cooling Fans Brand [4], and the world’s #1 Rice Cookers Brand [5].

Midea’s globally 34 production centers and over 150,000 employees in more than 200 countries and regions generated an annual revenue of more than USD 41.4 billion in 2020. Midea’s 28 worldwide innovation centers and the strong commitment to R&D have resulted in more than 62,000 authorized patents to-date.

https://www.midea-group.com/Our-Businesses/smart-home/midea

[1] “Midea – World’s No.1 Air Treatment Brand”
Source:”Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data”

[2] “Midea – World’s No.1 Small Cooking Appliances Brand”
Source:”Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data”

[3] “Midea – World’s No.1 Air Coolers Brand”
Source:”Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data”

[4] “Midea – World’s No.1 Cooling Fans Brand”
Source:”Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data”

[5] “Midea – World’s No.1 Rice Cookers Brand”
Source:”Euromonitor International (Shanghai) Limited; Consumer Appliances 21ed, retail volume sales in units, 2020 data”

#Midea

Vientiane Residents Express Dissatisfaction with Lockdown Measures

Police stop a motorist during Vientiane lockdown

Residents in Vientiane Capital have expressed dissatisfaction with certain regulations under the snap lockdown that came into force on Sunday.

Laos Plans Covid-19 Vaccinations for Children Aged 12 to 17

Laos plans to vaccinate children against Covid-19

Lao Minister of Health, Dr. Bounfeng Phoummalaysith, says health officials plan to vaccinate children aged 12 to 17 years in the near future with the aim of reopening schools.

Bokeo-Xayaboury Bridge Over 66 Percent Complete

Bokeo-Xayaboury Bridge

The Konteun-Huaykeo Bridge, which spans the Mekong River to link Bokeo and Xayaboury provinces is more than 66 percent complete.