Investors urge heavy carbon emitters to set science-based reduction targets

FILE PHOTO: Cracked earth marks a dried-up area near a wind turbine used to generate electricity at a wind farm in Guazhou, 950km (590 miles) northwest of Lanzhou, Gansu Province September 15, 2013. REUTERS/Carlos Barria/File Photo

LONDON (Reuters) – Investors managing around $20 trillion in assets on Tuesday called on the heaviest corporate emitters of greenhouse gases to set science-based targets on the way to net zero carbon emissions by mid-century.

AXA Group and Nikko Asset Management Co are among 137 investors urging 1,800 companies responsible for a quarter of global emissions to act, coordinated by non-profit group CDP.

While more companies are pledging their support for the 2015 Paris agreement on climate change, aiming to be carbon neutral by 2050, not all have been clear about how they will get there.

To help limit global warming to no more than 1.5 degrees Celsius above pre-industrial norms by 2050, companies

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EU creates ‘hit list’ of Big Tech targets for new regulation: Report

  • EU lawmakers are drawing up a “hit list” of Big Tech companies to target with new regulation, sources told the Financial Times.
  • The list will have up to 20 companies on it, and is likely to include big players such as Facebook and Apple, the sources said.
  • The EU is set to publish proposals for new technology laws in December.
  • Visit Business Insider’s homepage for more stories.

EU lawmakers are writing a “hit list” of Big Tech companies to target with tougher regulation, sources familiar with the matter told the Financial Times.

The sources did not say which names are on the list so far, but said it will feature up to 20 large tech companies, and that it is likely to include Silicon Valley behemoths such as Facebook and Apple.

Under draft plans for new legislation, the companies named on the list will have to abide by stricter regulations

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Indonesia’s AC Ventures Targets New $80 Million Startup Fund

(Bloomberg) — AC Ventures, an Indonesia-focused venture capital firm, said it completed the first close of a planned $80 million technology investment fund.



a crane next to a body of water with a city in the background: A crane stands at a construction site in this aerial photograph taken in Jakarta, Indonesia, on Friday, Feb. 1, 2019. Indonesia is scheduled to release fourth-quarter gross domestic product (GDP) figures on Feb. 6.


© Bloomberg
A crane stands at a construction site in this aerial photograph taken in Jakarta, Indonesia, on Friday, Feb. 1, 2019. Indonesia is scheduled to release fourth-quarter gross domestic product (GDP) figures on Feb. 6.

The Jakarta-based company raised $56 million at the first close, according to its partners. The fund will invest in about 30 early-stage startups in areas including e-commerce and financial technology in the next three years.

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AC Ventures was established in 2019 after two homegrown Indonesian VC firms — Agaeti Ventures and Convergence Ventures — merged to create scale. Its three founding partners are Pandu Sjahrir and Michael Soerijadji, previously general partners of Agaeti Ventures, and Adrian Li, the former founder of Convergence Ventures. Together, they have backed more than

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AC Ventures Targets New $80 Million Indonesian Startup Fund

AC Ventures, an Indonesia-focused venture capital firm, said it completed the first close of a planned $80 million technology investment fund.

The Jakarta-based company raised $56 million at the first close, according to its partners. The fund will invest in about 30 early-stage startups in areas including e-commerce and financial technology in the next three years.

AC Ventures was established in 2019 after two homegrown Indonesian VC firms — Agaeti Ventures and Convergence Ventures — merged to create scale. Its three founding partners are Pandu Sjahrir and Michael Soerijadji, previously general partners of Agaeti Ventures, and Adrian Li, the former founder of Convergence Ventures. Together, they have backed more than 100 tech ventures.

relates to Indonesia’s AC Ventures Targets New $80 Million Startup Fund

From left to right: Michael Soerijadj, Pandu Sjahrir and Adrian Li.

The firm will have a strategic alliance with Indies Capital, an alternative asset manager with more than $600 million of assets under management where Sjahrir serves

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Trump administration targets diversity hiring by contractors

Trump’s Labor Department is using a 55-year-old presidential order spurred by the Civil Rights Movement to scrutinize companies like Microsoft and Wells Fargo over their public commitments to diversity. Government letters sent last week warned both companies against using “discriminatory practices” to meet their goals.

Microsoft has brushed off the warnings, publicly disclosing the government inquiry and defending its plan to boost Black leadership.

But advocates for corporate diversity initiatives worry that more cautious executives will halt or scale back efforts to make their workplaces more inclusive out of fear that a wrong step could jeopardize lucrative public contracts. The agency has oversight over the hiring practices of thousands of

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Exclusive: HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

LONDON (Reuters) – HSBC HSBA.L will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, Chief Executive Noel Quinn told Reuters.

FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo

The pledge is the strongest statement by Europe’s biggest bank on climate change to date, although it met with criticism from some environmental groups for not taking more immediate action to curb its fossil fuel financing.

“COVID has been a wake-up call to us all, including me personally. We have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told

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HSBC targets net zero emissions by 2050, earmarks $1 trillion green financing

By Lawrence White, Sinead Cruise and Simon Jessop

LONDON (Reuters) – HSBC <HSBA.L> will target net zero carbon emissions across its entire customer base by 2050 at the latest, and provide between $750 billion and $1 trillion in financing to help clients make the transition, its Chief Executive Noel Quinn told Reuters.

In the strongest statement by Europe’s biggest bank on climate change to date, its CEO outlined HSBC’s ambitions to align its activities with the Paris Agreement.

“COVID has been a wake-up call to us all, including me personally, we have seen how fragile the global economy is to a major event, in this case a health event, and it brings home the reality of what a major climate event could do,” Quinn told Reuters in a video interview.

HSBC aims to achieve net zero in its own operations by 2030, he added.

While other UK banks such as

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AMD Targets PC Gamers With New Ryzen 5000 Desktop CPUs Arriving on Nov. 5

(Credit: AMD)

AMD’s new desktop CPUs, the Ryzen 5000 series, will start arriving on Nov. 5 with the goal of offering the best PC gaming performance. 

The main improvements involve the Zen 3 architecture, which is designed to boost the max clock speeds and increase the instructions per clock by 19 percent. The layout on the Ryzen chips has also been redesigned so that the cores have direct access to the L3 cache for lower latency, enabling faster PC gaming. 

“Zen 3 increases our overall lead in performance,” said AMD CEO Lisa Su during a Thursday event. “It increases our lead in power efficiency, and also now it delivers the best single-threaded performance and gaming performance as well.”

The Ryzen 5000 family will first arrive in four processors: 

  • The Ryzen 9 5950X: a 16-core, 32-thread chip for $799

  • The Ryzen 9 5900X: a 12-core, 24-thread chip for $549

  • The Ryzen

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Paytm targets a million apps on its mini app store to take on Google

By Sankalp Phartiyal and Aditya Kalra



a person standing in front of a fruit stand: FILE PHOTO: A vendor weighs vegetable next to an advertisement of Paytm, a digital payments firm, hanging amidst his vegetables at a roadside market in Mumbai


© Reuters/FRANCIS MASCARENHAS
FILE PHOTO: A vendor weighs vegetable next to an advertisement of Paytm, a digital payments firm, hanging amidst his vegetables at a roadside market in Mumbai

NEW DELHI (Reuters) – Alibaba-backed Indian fintech firm Paytm is aiming for a million apps on its “mini app store” by the first quarter of 2021, it said on Thursday, seeking to challenge the dominance of Alphabet’s Google in India’s mobile web economy.

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Paytm founder Vijay Shekhar Sharma called Google “judge, jury and executioner” after his app was temporarily removed from the Android app store last month for a policy violation. On Thursday, he kicked off his company’s “Mini App Developer Conference” by calling Google a “toll collector”.

Google, whose Android operating system powers nearly 99% of India’s roughly 500 million smartphones, has faced criticism from several startups in the country over a

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Trump further targets tech-friendly work visa programs in latest immigration restrictions

The Trump administration on Tuesday outlined new rules tightening restrictions placed on guest worker visa programs, including the H-1B program favored by tech industry firms.



a man wearing a suit and tie


© Photo by Win McNamee/Getty Images


The rules tighten eligibility around foreign workers, so employers must meet more stringent criteria around the jobs they’re hiring for and how much they’re paying. That may make it harder for companies to receive H-1B visas as part of the annual lottery that awards 60,000 slots to foreign workers, not including renewals. The new rules follow a June order from President Donald Trump suspending a range of guest worker visa programs through the end of the year, with the White House citing domestic job losses during the COVID-19 pandemic as the motivator.

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The tech and IT industries that rely on foreign talent now face more hiring restrictions

The Trump administration says the goal is to ensure companies

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