2025-09-22 10:48
Global Energy Alliance for People and Planet lays out new five-year plan Targets at least $500 mln in philanthropic capital Slide in official aid a focus at New York Climate Week, COP30 LONDON, Sept 22 (Reuters) - An alliance that installs renewable energy in developing countries wants to invest around $7.5 billion during its next five-year plan, executives told Reuters, and is seeking more philanthropic partners as richer nations cut government aid. The Global Energy Alliance for People and Planet, launched at global climate talks in 2021, has helped 30-plus countries to enhance electricity grids, set up battery storage and create jobs in the green economy. Sign up here. It secures free or cheap money from charitable or governmental sources to reduce the investment risk and draw in money from multilateral development banks and private sector lenders. The task has become harder since the U.S. administration under Donald Trump has led a shift away from development aid and climate finance. Founded by the IKEA Foundation, The Rockefeller Foundation and the Bezos Earth Fund, GEAPP's partner roster has grown to include countries such as Britain and Denmark, the World Bank and private sector companies including GE Vernova. WORLD LEADERS GATHER FOR NEW YORK 'CLIMATE WEEK' As world leaders gather in New York for the U.N. General Assembly this week alongside the city's "climate week", Chief Executive Woochong Um said the group was seeking new partnerships. The alliance is also looking ahead to the next global climate conference in Brazil in November, when finding the finance to help developing countries shift to green energy is set to play a prominent role as it has at previous climate talks. "With aid budgets under pressure, we need new models to deliver development at scale," Um said, adding plans included "an Energy and Opportunity Coalition" to embed green energy in sectors such as agriculture and health. SIX-FOLD INCREASE IN CLEAN ENERGY NEEDED Underlining the scale of the challenge, the International Energy Agency has said clean energy , opens new tab investment in developing countries outside China needs to rise six-fold to $1.6 trillion by the early 2030s in order to hit the world's climate goal. Official development aid fell 7.1% in real terms in 2024, data from the OECD showed, the first decline for six years, led by a slide in U.S. funding, raising pressure on groups such as GEAPP to increase its range of backers. DIGITALLY-INTELLIGENT AND RENEWABLES-READY Um said the renewables alliance would seek to scale up its work on what it describes as "Grids of the Future", or ensuring power systems in emerging economies are renewables-ready, digitally intelligent, and financially sustainable. With battery storage projects under way in more than 20 countries - including India's first utility-scale standalone system - the group aimed to digitise millions of grids across Asia, Africa, Latin America and the Caribbean, he said. "In Jaipur, we're creating a live digital map of 6.5 million utility assets so the utility can spot problems before they cause outages," saving more than $50 million a year. "The ambition is to replicate this across 10 utilities in India, 10 in Africa, and 10 in Latin America and Southeast Asia, creating a global backbone of digital, renewable-ready distribution utilities." Over its first five-year plan, GEAPP has mobilised $7.8 billion in financing that it expects to deliver new and improved energy access to nearly 240 million people and reduce carbon emissions by 952 million metric tons, it said in a report to be released on Monday. Um said the alliance over 2026-2030 aimed to raise at least $500 million in philanthropic capital and leverage it around 15 times to unlock the $7.5 billion. https://www.reuters.com/sustainability/cop/bezos-backed-renewables-alliance-targets-75-bln-developing-countries-2025-09-22/
2025-09-22 10:45
CSRC advises brokerages to pause RWA tokenisation in Hong Kong, sources say Hong Kong aims to be a digital assets hub amid China's cautious stance Chinese firms' shares rally on virtual asset business interest in Hong Kong Sept 22 (Reuters) - China's securities watchdog has advised some local brokerages to pause their real-world asset (RWA) tokenisation business in Hong Kong, said two sources, signalling Beijing's concerns of a euphoric drive towards a booming digital assets market offshore. The RWA tokenisation process usually converts traditional assets such as stocks, bonds, funds and even real estate, into digital tokens traded on a blockchain. A raft of Chinese firms, including brokerages, have launched RWAs in Hong Kong over the past few months. Sign up here. At least two leading brokerages have received informal guidance from the China Securities Regulatory Commission (CSRC) in recent weeks to refrain from conducting RWA business offshore, said the sources with knowledge of the matter. One of the sources said the latest regulatory guidance is aimed at strengthening risk management of a new business and making sure the claims made by companies are backed by strong, legitimate businesses. The move comes as Hong Kong over the past year ramped up efforts to position the Asian financial centre as a digital assets hub, with many firms, including Chinese brokerages, preparing for the launch of virtual asset trading, investment advisory and virtual asset management. China, once the world's biggest bitcoin trading and mining centre, on the other hand, has taken a cautious approach towards digital assets after it banned cryptocurrency trading and mining in 2021 due to financial system stability concerns. Last month, Chinese regulators asked big local brokers to halt publication of research endorsing stablecoins in a bid to curb a surge in interest in the digital currency among domestic investors, Reuters has reported, citing sources. Beijing's latest move comes even as Hong Kong said in June its Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) are conducting a legal review of RWA tokenisation, drawing on international experience. The global RWA market is currently worth around $29 billion, according to data provider RWA.xyz. China Merchants Securities, citing industry forecasts, said last month the figure could exceed $2 trillion by 2030. It was not immediately known how long the Chinese securities regulator's informal guidance to some brokerages on halting RWA business in Hong Kong would remain in force. The sources could not be named as they were not authorised to speak to the media. The CSRC, HKMA, and FSTB did not immediately respond to Reuters' request for comment. The Securities and Futures Commission (SFC) of Hong Kong declined to comment. VIRTUAL ASSET FRENZY Chinese brokerage GF Securities' Hong Kong unit in June launched "GF tokens", a suite of yield-generating products that are backed by the prices of U.S. dollar, Hong Kong dollar and offshore renminbi, its partner HashKey Chain said at that time. China Merchant Bank International, a subsidiary of China Merchant Bank, last month assisted Shenzhen Futian Investment to raise 500 million yuan ($70.29 million) via the issuance of a RWA-based digital bond, CMBI has said in a statement. Spokespersons at GF and CMBI did not immediately respond to Reuters' request for comment on whether they have received any regulatory guidance on their RWA plans. Besides brokerages, Chinese property developer Seazen Group (1030.HK) , opens new tab also said last month it was setting up an institute in Hong Kong to push RWA tokenization. Hong Kong's recent introduction of its stablecoin regime has fuelled a wave of crypto enthusiasm. The Hong Kong Monetary Authority (HKMA) said earlier this month 77 firms have expressed interest in applying for a license as of August 31. Shares in Chinese companies, which expressed an interest in foraying into virtual asset business - a wider sector that covers trading and investments of digital assets, stablecoin and tokenisation in Hong Kong, have rallied in the recent past. State-owned Guotai Junan International shares once shot up more than 400% after the broker said that it had obtained regulatory approval in Hong Kong to offer cryptocurrency trading services in June. Shares of Fosun International jumped as much as 28% on Aug 12 on the news that its chairman Guo Guangchang, together with Fosun's stablecoin team, met with top Hong Kong government officials earlier in the month. ($1 = 7.1136 Chinese yuan renminbi) https://www.reuters.com/sustainability/boards-policy-regulation/china-ask-brokers-pause-real-world-asset-business-hong-kong-sources-say-2025-09-22/
2025-09-22 10:44
LONDON, Sept 22 (Reuters) - Hedge funds bought banks, insurance and consumer finance companies last week at the fastest pace in three months, Goldman Sachs said in a research note, amid increased dealmaking expected to boost profits and an expected further loosening of regulations. An index of European banks (.SX7P) , opens new tab has risen over 40% so far this year, while U.S. banks (.SPXBK) , opens new tab have advanced just over 20%. Sign up here. The funds picked no regional favourite, but North America and Europe took the bulk of long positions, betting that shares in these markets would rise, according to the Goldman Sachs note to clients on Friday that was seen by Reuters on Monday. Hedge funds, which had throughout August decreased trading levels, raised gross leverage levels last week by the largest amount in eight months, the Goldman Sachs note said. Gross leverage is a gauge of how much hedge funds are trading. Financial companies were the second most bought sector monitored by Goldman Sachs' prime brokerage unit, followed by tech stocks. "We were hopeful at the start of the year that pragmatism on the part of regulators and government would underpin a better year for the specialist lenders, both operationally and in terms of share prices. So far, so good," said a September 17 report by analysts at the UK bank, Panmure Liberum. Banks generally tend to make money in times of higher interest rates, but the prospect of lower interest rates was already baked into stock prices, its note said. The Fed last week cut rates for the first time since December and signalled further reductions at its October and December meetings given signs of a weakening U.S. labour market. Goldman Sachs (GS.N) , opens new tab CEO, David Solomon, said in a CNBC interview earlier this month that the bank expected its busiest week for initial public offerings since July 2021. https://www.reuters.com/sustainability/boards-policy-regulation/hedge-flow-hedge-funds-pile-into-banks-insurance-consumer-finance-goldman-sachs-2025-09-22/
2025-09-22 10:43
FTSE 100 down 0.11%%, FTSE 250 down 0.12% Auto stocks slide tracking losses in European peers Gold stocks shine as gold hits record high Airlines down on cyberattack at European airports Sept 22 (Reuters) - London stocks edged lower on Monday, pressured by weakness in automakers and a stronger pound, as investors awaited comments from several Federal Reserve officials later in the day. The benchmark FTSE 100 (.FTSE) , opens new tab was down 0.11% at 1006 GMT, while the domestically-focused FTSE 250 (.FTMC) , opens new tab fell 0.12%. Sign up here. British automobiles and parts (.FTNMX401010) , opens new tab stocks fell 1.6%, tracking losses in the broader European automobile sector (.SXAP) , opens new tab after Porsche (P911_p.DE) , opens new tab scaled back plans for its electric vehicle rollout, prompting the luxury sportscar maker and its parent Volkswagen (VOWG.DE) , opens new tab to slash their 2025 profit outlooks. British luxury carmaker Aston Martin (AML.L) , opens new tab slipped 3.2%. Sterling's strength against the greenback also weighed on export-oriented firms, as investors paused after Friday's selloff driven by fiscal concerns. The Bank of England left key interest rates unchanged last week as it contended with sticky inflation and uncertainty around jobs and growth. Caution dominated broader sentiment after a report on Friday showed Britain’s borrowing exceeded official forecasts, adding pressure on Finance Minister Rachel Reeves ahead of her November budget. Precious metal miners (.FTNMX551030) , opens new tab rose 5.1%, the most among sectors, as gold hit a record high on rising expectations of a more dovish rate path. Miner Fresnillo (FRES.L) , opens new tab was among the top gainers in the FTSE 100 with a 4% rise while Hochschild (HOCM.L) , opens new tab jumped 8.8%. Other miners, including Glencore (GLEN.L) , opens new tab and Rio Tinto (RIO.L) , opens new tab, added 1.2% and 1.4%, respectively. An index of industrial metal miners (.FTNMX551020) , opens new tab edged up 1.3%, tracking gains in copper prices. London-listed airlines declined due to delays at European airports following a reported cyberattack. EasyJet (EZJ.L) , opens new tab, British airways owner IAG (ICAG.L) , opens new tab and Wizz Air (WIZZ.L) , opens new tab, fell between 1.3% and 1.5%. British food ingredients maker Tate & Lyle (TATE.L) , opens new tab fell about 6%, the most on the FTSE 250, after Morgan Stanley downgraded the stock to “underweight” from “equal-weight.” Investors will watch for remarks from at least five Fed officials later Monday, while Chair Jerome Powell is due to speak Tuesday after last week's 25-basis-point rate cut. https://www.reuters.com/world/uk/london-stocks-edge-lower-sterling-climbs-automakers-slip-2025-09-22/
2025-09-22 10:40
LONDON, Sept 22 (Reuters) - Ecuador is on course to produce more than 650,000 metric tons of cocoa in the upcoming 2025/26 season and could surpass Ghana as the world's second largest grower of the chocolate ingredient, the chairman of the country's cocoa exporters association said. Anecacao's Ivan Ontaneda told Reuters via email that thanks to soaring world cocoa prices , farmers - backed by the public and private sector - are investing more and more in their plots and getting increased yields. Sign up here. Cocoa prices more than doubled last year, reaching record highs above $12,000 a ton following failed harvests and disease in West African producers Ivory Coast and Ghana, which supply about half of the world's cocoa. An increase in production in South America, where Ecuador is the leading grower, has helped to fill the supply gap, and prices have fallen by about a third this year. They remain however at historically elevated levels. Farmers in Ecuador get around 90% of the world price, according to Ontaneda. In Ivory Coast and Ghana, by contrast, farmers receive about 60-70% of the world price at best. "Ecuador’s production has shown steady growth (for) years. Ghana's production has been volatile," said Ontaneda. A Reuters poll released earlier this month forecast that Ghana, which is battling illegal gold mining on cocoa farms and struggling to rein in the spread of swollen shoot disease, will produce just 600,000 tons of cocoa in 2025/26. Cocoa in Ecuador is grown in agroforestry systems that support biodiversity and are crucial to preventing the spread of disease common in monoculture farming, as seen in West Africa. These systems include growing cocoa alongside shade trees, plantains, coffee and fruit trees. Cocoa farms in Ecuador are currently yielding an annual 800 kg per hectare, Ontaneda noted, adding the country produced more than 570,000 tons in the 2024/25 season and expects to reach 800,000 tons by the end of the decade. The average cocoa yield in West African countries, including Ghana, is just under 500 kg per hectare, according to industry data. https://www.reuters.com/world/americas/ecuador-set-become-worlds-no-2-cocoa-grower-industry-head-says-2025-09-22/
2025-09-22 10:36
What matters in U.S. and global markets today By Anna Szymanski Sign up here. While investors last week welcomed the Federal Reserve’s first rate cut of 2025 and signals of further easing, sentiment is more cautious today, with U.S. stock futures easing slightly before the bell. President Donald Trump said on Friday that U.S. companies would need to pay $100,000 for new H-1B worker visas, , opens new tab a potential blow for the dominant U.S. tech sector. Investors will hear from a host of Fed officials this week as everyone awaits the release of the Fed's favored inflation gauge on Friday. Mike's off this week, but check out his column today explaining why the ECB could have a "contingency cut" in its pocket and what that means for dollar bets. Market Minute * India's $283 billion information technology sector will have to overhaul its decades-old strategy of rotating skilled talent into U.S. projects following U.S. President Donald Trump's move to impose a $100,000 fee for new H-1B visas from Sunday, according to tech veterans, analysts, lawyers and economists. * South Korea's economy could fall into crisis rivalling its 1997 meltdown if the government accepts current U.S. demands in stalled trade talks , opens new tab without safeguards, President Lee Jae Myung told Reuters. , opens new tab * U.S. tariffs imposed in August risk slashing up to one-fifth of Vietnam's exports to the United States, making it the worst-hit country in Southeast Asia, according to estimates by the United Nations Development Programme. * The breathtaking expansion of U.S. gas exports in the last decade has reshaped global markets, but, writes ROI energy columnist Ron Bousso, a looming global oversupply along with rising power prices domestically could leave the industry exposed on both sides of its value chain. * China's onshore equity markets are booming, outperforming many of their developed market counterparts this year, writes Emmer Capital Partners Founder Manishi Raychaudhuri in his latest piece for ROI. But he argues that whether this is the beginning of a true Chinese equity boom will likely depend on government stimulus and corporate discipline. , opens new tab Chart of the day After the Trump administration said on Friday that it would ask companies to pay $100,000 per year for H-1B working visas, some big tech companies and banks, including Microsoft, Amazon, Alphabet and Goldman Sachs, warned employees to stay in the U.S. or quickly return. However, the White House on Saturday clarified that this is a one time, not an annual fee, and that it will not be applied to existing visa holders re-entering the country. Today's events to watch Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website , opens new tab, and you can follow us on LinkedIn , opens new tab and X. , opens new tab Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. https://www.reuters.com/sustainability/sustainable-finance-reporting/global-markets-view-usa-2025-09-22/
