• ESG policy framework to institutionalize APICORP’s commitment to environmental protection, social responsibility, and robust governance
• APICORP targets allocating US$ 1 bn to green energy projects and sustainable energy companies over the next two years to support energy transition
• APICORP considering issuing green and sustainability bonds to fund sustainable ventures and business models within the energy sector

DAMMAM, SAUDI ARABIA – EQS Newswire – 13 September 2021 – The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral development bank today unveiled its new ESG policy framework. The launch of the framework comes as part of APICORP’s drive to support energy transition in its member countries and beyond.

APICORP plans to allocate US$1 bn towards green energy projects and sustainable energy companies over the next two years, particularly in the MENA region, with a view to concomitantly measure the ESG footprint of all its assets by end of 2023 through active engagement with its stakeholders. Currently, green assets comprise more than 13% of the multilateral development bank’s overall portfolio – equal to around US $550 million in loans and direct investments, a figure which has more than quadrupled over the past 5 years.

The new framework also includes a robust due diligence toolkit to measure the ESG impact when making financing and investment decisions, with a focus on supporting the proliferation of renewable energy sources and low-carbon technologies as well as forging more strategic partnerships to promote the sustainability agenda.

Additionally, APICORP will look to introduce green and sustainability bonds in the coming period with the aim of accelerating the adoption of sustainable business models within the energy sector and providing industry players with incentives to pursue energy diversification and sustainability practices.

Commenting on the ESG policy framework, Dr. Aabed bin Abdulla Al-Saadoun, Chairman of the Board of Directors of APICORP, said: “As the world continues to experience unprecedented change, APICORP recognizes the importance of our role, our impact and our responsibility to tackle environmental and climate change challenge within our member countries, partners and wider stakeholders. We want to support a transition to a low-carbon, climate-resilient economy by mitigating risks across our operations, supply chain and client transactions by embedding sustainable principles in our business practices. We embark on this journey with the reassurance that all of our member countries are signatories to the 2015 Paris Agreement and participants at COP26 to be held in Glasgow later this year.”

Dr. Ahmed Ali Attiga, Chief Executive Officer of APICORP, said: “At APICORP, we want to lead by example when it comes to transitioning to more sustainable energy sources. Encouraging other partners in our ecosystem to be more mindful of their environmental, governance and societal footprint is therefore integral to our strategy moving forward. As a multilateral development bank with exposure to myriad industries within the energy space, we have the added advantage of being able to measure the overall impact more accurately across the regions in which we operate. Equally important, we will continue to drive the ESG agenda in our member countries through our research and knowledge sharing activities, as well as our unique position in advising key policy makers within government and regulatory circles.”

Underpinned by three core pillars – Responsible Banking and Investing, Social Inclusion and Partnerships, and Financial Resilience and Governance – the comprehensive framework 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, as well as outlining criteria related to its own infrastructure, ethics and values, diversity and inclusion, and employee empowerment.

Additionally, the institution will also undertake voluntary public reporting on an annual basis drawn from the leading international standards, including the Task Force on Climate-related Financial Disclosures, The Principles for Responsible Investment, The Principles for Responsible Banking, and The Equator Principles.

To view APICORP’s ESG Policy Framework, please click here: https://bit.ly/3lfTl4u

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

You can also follow us at:

Twitter: https://twitter.com/APICORP

Instagram: https://www.instagram.com/apicorp/

LinkedIn: https://www.linkedin.com/company/apicorp/

#APICORP

Major Shareholder and Core Management Members Opt for Scrip Shares as a Vote of Confidence to Business Outlook

HONG KONG SAR – Media OutReach – 13 September 2021 – Yip’s Chemical Holdings Limited (SEHK: 00408) (“Yip’s Chemical” or the “Group”) announced details of the Scrip Dividend Scheme in relation to the 2021 interim dividend and the Group’s 50^th anniversary special dividend.  Shareholders whose names appeared on the register of members of the Group at the close of business on 8 September 2021 can choose to receive the dividends wholly or partly in the form of allotment of new Shares (“Scrip Shares”) in lieu of cash. The issue price of the Scrip Shares is set at HK$4.95 per share. Shareholders will be eligible to receive a maximum of 88 Scrip Shares for every board lot (2,000 shares) based on an aggregate amount of HK22 cents for the interim and 50^th anniversary special dividend per share.

As a vote of confidence to the business outlook of the Group, Mr. Ip Chi Shing, Non-Executive Director, Chairman of the Board and a substantial shareholder of the Group, and core management members including Mr. Yip Tsz Hin, Executive Director, Deputy Chairman of the Board and the CEO, as well as Mr. Ip Kwan, Executive Director and the Deputy CEO, have indicated that they intend to receive the dividends in Scrip Shares.

The issue price of the Scrip Shares is set at HK$4.95 per Share, which is the average closing price for the 5 consecutive trading days commencing from 2 September 2021 to 8 September 2021 (both days inclusive). The issue price represents a slight discount to today’s (13 September 2021) closing price of HK$5.03.

The Scrip Dividend Scheme will give eligible shareholders an opportunity to increase their investment in the Group and share the fruits of the Group’s success at market value without incurring brokerage fees, stamp duty and related dealing costs. The Scrip Dividend Scheme will also benefit the Group to the extent that cash will be retained for use as working capital.

In order to facilitate the trading of odd lots of the shares, the Group has appointed Infast Brokerage Limited as the matching agent (the “Matching Agent”) to provide matching service to eligible shareholders who wish to acquire odd lots of the shares to make up a full board lot of 2,000 shares, or to dispose of their holding of odd lots of the shares. Holders of the shares in odd lots who wish to take advantage of this matching facility may contact the Matching Agent during the period from 9 a.m. on 13 October 2021 (Wednesday) to 4 p.m. on 12 January 2022 (Wednesday). Contact details of the Matching Agent could be found in the Group’s circular dated 14 September 2021. If eligible shareholders wish to receive their respective dividends in the form of Scrip Shares, they should complete and sign the election form appended in the circular and return it to the Group’s branch share registrar, or confirm with the banks and stockbrokers, no later than 4:30 p.m. on 29 September 2021.

About Yip’s Chemical Holdings Limited (Incorporated in the Cayman Islands with limited liability) (SEHK: 00408)

Yip’s Chemical Holdings Limited (“Yip’s Chemical” or the “Group”) was established in 1971 and listed on the Hong Kong Stock Exchange in 1991. The Group focuses on the production and sales of petrochemical products, including solvents, coatings, inks and lubricants, with its nationwide sales network covering all major provinces and cities across China. It is the largest producer of acetate solvents in the world, China’s largest manufacturer of inks and one of the top 20 ink manufacturers globally*, as well as one of the top 10 coatings manufacturers in China^#. On top of products, the Group has strived to provide value-added services to consumers in recent years, such as automobile lubricant changing and maintenance as well as personal and household sanitizing.

Coating brands operated under the Group are “Bauhinia”, “Camel”, “Aquapro”, “Hang Cheung” for industrial paints and “Da Chang” for resins. The Group also owns brands including “Bauhinia Variegata” for inks, “Hercules” for automotive lubricants and “PACOIL” for industrial and specialty lubricants. The automotive maintenance brand “Damai” and sanitizing brand “EUCA” are also brands under Yip’s Chemical.

To achieve long-term sustainable development, the Group will continue to move in the direction supportive of green living, embracing development that is “environmentally friendly”, “end-user oriented” and “service oriented”.

^* According to China Inks Association (中國油墨協會), Bauhinia Ink is the largest ink manufacturer in the PRC in terms of annual sales volume in 2019. It ranked 16^th in the “2021 Top International Ink Companies” released by the US inks magazine Ink World in terms of sales revenue.

^# Bauhinia Paints ranked 65^th in the “2021 Global Ranking of the Top Manufacturers of Paints and Coatings” released by the US coatings magazine Coatings World and is among the top 10 in the PRC in terms of sales revenue.

Learn more about Yip’s Chemical on:

Website: http://www.yipschemical.com/

Facebook: https://www.facebook.com/yipschemicalholdings/

Wechat:

#Yip’sChemical

HONG KONG SAR – Media OutReach – 13 September 2021 – Reckitt and its brand Dettol is joining the Standard Chartered Hong Kong Marathon 2021 as the Official Hygiene Partner, to keep protecting runners’ health along the race in the first major mass participatory sporting event in Hong Kong since the start of the pandemic. 

Dettol will help the Standard Chartered Hong Kong Marathon implement enhanced hygiene protocols, promote health and hygiene practices, and provide hygiene products in the runner’s pack for all participants. Dettol hand sanitising stations will be set up along the course and at different area during the race and Dettol surface disinfectant products will also be used to keep the public facilities clean.

“We are excited to partner with Standard Chartered Hong Kong Marathon on the return of this highly anticipated event,” said Boudewijn Feith, Reckitt General Manager Hong Kong/Taiwan.  “At Reckitt, it is at the heart of our guiding principle to put consumers and people first, and we are determined to bring Our Purpose to life – to protect, heal and nurture, in the relentless pursuit of a cleaner, healthier world. As one of the world’s most trusted disinfectant brands, through this partnership, Dettol will not only protect people’s health, but also become the enabler and protector of their best moments.”

“For mass participatory sporting events to relaunch, our utmost priorities are always on the safety of the public,” Hong Kong Association of Athletics Affiliates added. “We are confident the partnership with Reckitt and its leading brand Dettol will bring trusted hygiene protection solutions to the race to protect people’s health.”

Globally, Dettol has partnered with numerous leading organisations around the world, including the English Football Association, Cricket Australia, Hilton Hotels, and British Airways, and Hong Kong Rugby Union, to deliver its brand purpose of protecting what people love — be that families, sports, or day-to-day life moments.

About Reckitt:

Reckitt* exists to protect, heal and nurture in the relentless pursuit of a cleaner, healthier world. We believe that access to the highest-quality hygiene, wellness and nourishment is a right, not a privilege.

Reckitt is the company behind some of the world’s most recognisable and trusted consumer brands in Hygiene, Health and Nutrition, including Air Wick, Calgon, Cillit Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic, Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish, Veet, Woolite and more.

Every day, more than 20 million Reckitt products are bought globally. We always put consumers and people first, seek out new opportunities, strive for excellence in all that we do and build shared success with all our partners. We aim to do the right thing, always.

We are a diverse global team of more than 43,000 colleagues. We draw on our collective energy to meet our ambitions of purpose-led brands, a healthier planet and a fairer society.

Find out more, or get in touch with us, at Reckitt.com

* Reckitt is the trading name of the Reckitt Benckiser group of companies

About Dettol:

The brand first started in hospitals 80 years ago, where Dettol Antiseptic Liquid was first used for the cleaning and disinfection of skin during surgical procedures. As a trusted brand by doctors, Dettol was also used to protect mothers from illness after childbirth.

Ever since then, Dettol has been trusted around the world to help prevent wounds from infection, prevent sickness and help mums protect their families by killing harmful germs and helping to create safe environments for them to thrive in.

The brand continues to be one of the most trusted protectors of health. It’s still valued today as a reliable and effective product which is safe to use on skin but also powerful enough to use for environmental germ-killing tasks.

Dettol is world #1 Germ Protection brand. Dettol also ranked first in Sales Value (HK$) in the Hand Wash segment of Liquid Soap category in Hong Kong market for the 10-year period.

For more information, please visit: https://www.dettol.com.hk/en/

About the Standard Chartered Hong Kong Marathon

www.hkmarathon.com

The Standard Chartered Hong Kong Marathon, organised by the Hong Kong Association of Athletics Affiliates, is Hong Kong’s largest participatory annual sporting event attracting over 70,000 local and overseas participants each year. Standard Chartered has been the title sponsor since the first Standard Chartered Hong Kong Marathon in 1997 and also sponsors marathons in six other cities globally including Taipei, Singapore, Nairobi, Kuala Lumpur, Stanley and Jersey, as well as a 10km run in Shanghai and 5km run in London.

#Reckitt #StandardCharteredHongKongMarathon

Emerging Fashion Designers Activate Local Circular Economies as Global Competition Fights Textile Waste

HONG KONG SAR – Media OutReach – 13 September 2021 – Redress, the world-leading NGO working to reduce fashion’s waste, announces the winners of the Redress Design Award 2021, the world’s largest sustainable fashion design competition that urgently seeks to catalyse multiple micro-circular economies around the world to reduce fashion’s negative environmental impacts, following the Grand Final fashion show that featured real and virtual models that took place in Hong Kong on 11 September. The Redress Design Award 2021 is supported by Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region as the lead sponsor. Emerging designer Jessica Chang from Taiwan won First Prize securing an unparalleled sustainable design collaboration with global outdoor lifestyle leader, Timberland (a VF Corp brand).

“The Redress Design Award showcases what is possible when emerging designs are given an opportunity to innovate around sustainability. We believe fostering talent and innovation is both good for business and a necessity for the future for our planet,” said Sean Cady, Vice President, Global Sustainability and Responsibility, VF Corporation, who served as one of the judges. “Sustainable fashion and circular design align with our purpose of bettering both people and the planet. Watching our global teams embrace this sustainability competition to mentor the next generation of designers is incredibly rewarding.”

Redress’ mission is to reduce fashion’s waste and the competition’s core criteria is to source and design into various waste materials to activate circular fashion. Following the open call that drew applications from designers in 58 countries and regions, the resulting 10 finalists then sourced local waste – including end-of-roll, samples, secondhand clothing, school uniforms, boat covers, damaged camping equipment to place mats – to create their menswear and womenswear competition collections.

Redress’ Founder, Christina Dean said, “Fashion’s waste rates are unacceptable and change is not happening fast enough. Whilst recycling technology engineers search in labs for breakthrough recycling solutions and the finance community dither about financing much-needed recycling start-ups, Redress is increasingly promoting hyper-local waste sourcing solutions, spearheaded by fashion designers. Every textile deserves a second life.”

Every second, the equivalent of one rubbish truck of textiles is landfilled or incinerated globally, and textile waste is estimated to increase by 60% by 2030. Designers are said to influence around 80% of a product’s environmental impact, which is why education is core to each Redress Design Award cycle. As such, the finalists also took part in 10 days’ of digital immersive educational challenges and masterclasses in the lead up to the Grand Final fashion show, including the ‘Digital Zero-Waste Challenge with TAL Group and Browzwear’, and ‘Icebreaker Move to Natural Challenge’ in the lead up to the Grand Final.

WINNER JOINS TIMBERLAND FOR EXCLUSIVE COLLABORATION

The Redress Design Award 2021 First Prize Winner Jessica Chang whose winning collection wowed the judges due to its strong marketability, commerciality whilst bringing waste back into designs that connect with and inspire consumers, now joins Timberland’s team to collaborate on an exclusive sustainable design project, during which Jessica will also work closely with VF’s Sustainability and Responsibility team to gain valuable insights from across the supply chain, including responsible design and marketing.

“Winning this chance to work with Timberland is a life-changer for me,” said Jessica Chang. “Entering this complex industry as an emerging designer is daunting because, so often, everywhere we look we see bad news and complexity. We know we can bring change. Yet it is hard to magnify our big ideas as start-up designers. The Redress Design Award has given me confidence – we are all in this together to make a positive change!”

Victor Tsang, Head of CreateHK, shared his congratulations with the awardees. “The Redress Design Award has not only become an important brand in the sustainable fashion design community that recognises talented emerging fashion designers around the world, but is also an extensive educational platform that equips them with sustainable design theories and techniques”.

BUILDING ON THE COMPETITION’S LEGACY

Following this 11th competition cycle, all 2021 finalists and semi-finalists are welcomed into the Redress Design Award Alumni Network, which now includes over 200 talented designers globally, over 60 of whom have since started their own successful brands. These trailblazing designers continue to act as international ambassadors to promote the competition’s powerful legacy.

Redress, with the sponsorship of Mercedes-Benz Hong Kong, showcased six talented alumni sustainable fashion brands to global buyers and the fashion community at CENTRESTAGE, Asia’s Fashion Spotlight event, including two brands home grown in Hong Kong. In partnership with accessories brand, Kipling, two Redress Design Award Alumni are collaborating to upcycle deadstock fabrics back to life for commercial collections.

CALL FOR CONSUMER ACTION

The Redress Design Award 2021 Grand Final was livestreamed, in partnership with TENCEL™, to global audiences with a specific call out to consumers to act now to transform fashion so as to signal stronger intent and demand to the industry. Consumer surveys consistently show that people are becoming more aware of fashion’s negative environmental impacts, particularly post-Covid. Key actions that Redress is promoting are; ‘Shop Better’ – look for sustainable designers, sustainable collections or secondhand clothing – and ‘Wear Longer’ – to keep clothing in use.

High-resolution images available for download here and full media kit here.

FULL LIST OF REDRESS DESIGN AWARD 2021 CYCLE WINNERS

●      Redress Design Award 2021 First Prize with Timberland Winner: Jessica Chang (Taiwan)

●      Redress Design Award 2021 Runner-Up Prize Mentorship with Orsola De Castro Winner: Jin Pei-Wen (Taiwan)

●      Redress Design Award 2021 Hong Kong Best Prize Winner: Lau Sin Yi (Hong Kong)

●      Redress Design Award 2021 People’s Choice Winner: Tulika Ranjan (India)

●      Redress Design Award 2021 Alumni Prize with Kipling Winners: Beatrice Bocconi (Italy – Redress Design Award 2020 Finalist); and Grace Lant (Hong Kong – Redress Design Award 2020 Finalist and Hong Kong Best Prize Winner)

SUPPORTING INFORMATION

●     The Redress Design Award 2021 was open to emerging designers and students with less than four years of experience globally

●     See the full list of Redress Design Award 2021 prizes at www.redressdesignaward.com/2021/prizes

●     The Redress Design Award 2021 International Grand Final Judges are Orsola de Castro, Fashion Designer, Global Creative Director and Co-Founder, Fashion Revolution; Desiree Au, Founding Publisher, Vogue Hong Kong;  Andus Tsui, Creative Director, ANGUS TSUI and Alumnus, Redress Design Award; Cecile Thorsmark, CEO, Copenhagen Fashion Week;MAHMOUD Salahy, Vice President & Managing Director, Timberland APAC; Sean Cady, Vice President, Global Sustainability, Responsibility and Trade, VF Corporation and Christophe Degoix, Chief Operating Officer, TAL Apparel Ltd

●     The competition is organised by Redress and supported by The Create Hong Kong of the Government of the Hong Kong Special Administrative Region as the lead sponsor, and multiple other sponsors including key sponsors, VF Corporation, Avery Dennison, UPS and TAL Group. See the full list of partners at www.redressdesignaward.com/partners

●      The ‘Icebreaker Move to Natural Challenge’ tasked the Redress Design Award 2021 finalists to design a solution for a 100% natural fibre hoodie that aims to re-use or minimise textile waste from the icebreaker supply chain, from sheep to shirt

●      The ‘Digital Zero-Waste Challenge with TAL Group and Browzwear’ challenged the Redress Design Award 2021 finalists to work with digital design and sampling to demonstrate their zero-waste and upcycling skills, on TAL’s deadstock fabric.

●      Both design challenges will be included in the upcoming 6th season of Frontline Fashion, launching in later September at www.youtube.com/user/RedressAsia 

●      In a first for the Redress Design Award Grand Final, finalists produced four outfits physically with a fifth item projected using virtual models, creating a digital-hybrid experience made possible by innovative technology to accelerate sustainable fashion.

●      An exclusive extended version of the Redress Design Award 2021 finalists fashion shoot where virtual and physical models meet will be showcased in the October 2021 edition of VOGUE Hong Kong.

Supporting Statistics

●     Every second, the equivalent of one rubbish truck of textiles is landfilled or burned globally. Ellen Macarthur Foundation (2020) The Circular Economy: A transformative Covid 19 strategy

●     Textile waste is estimated to increase by 60% by 2030 (from 2017 numbers). Source: Global Fashion Agenda and The Boston Consulting Group, Inc. (2017), Pulse of the Fashion Industry

●     Designers are said to influence around 80% of a product’s environmental impact. Source: EU Science Hub (2018): Sustainable Product Policy

●     More supporting statistics on the issues that under the Redress Design Award’s mission can be found here.

About Redress (www.redress.com.hk)

Redress is a pioneering environmental charity working to prevent and transform textile waste in the fashion industry. Its dynamic programmes work to minimise the negative impacts of fashion, whilst promoting innovative new models and driving growth towards a more sustainable industry via the circular economy.

The Redress Design Award is the world’s largest sustainable fashion design competition working to educate emerging fashion designers around the world about sustainable design theories and techniques in order to drive the shift towards a circular fashion system. By putting sustainable design talent in the global spotlight, the competition creates a unique platform for passionate and talented fashion game-changers to transform the global fashion industry and rewards the best with career-changing prizes to maximise long-term impact. Create Hong Kong of the Government of the Hong Kong Special Administrative Region is the Lead Sponsor of the Redress Design Award. www.redressdesignaward.com

About Create Hong Kong (www.createhk.gov.hk)

Create Hong Kong (CreateHK) is a dedicated agency set up by the Government of the Hong Kong Special Administrative Region in June 2009. It is under the Communications and Creative Industries Branch of the Commerce and Economic Development Bureau and dedicated to spearheading the development of creative industries in Hong Kong. Its strategic foci are nurturing talent and facilitating start-ups, exploring markets, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community.

CreateHK has been sponsoring the Redress Design Award (formerly the EcoChic Design Award) since 2011 to promote Hong Kong’s fashion design.

About VF Corporation (www.vfcorp.com)

Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans ® , The North Face ® , Timberland ® and Dickies ® . Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good. For more information, please visit vfc.com.

*Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organizers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Communication and Technology Branch of the Commerce and Economic Development Bureau, Create Hong Kong, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.

#Redress #RedressDesignAward