The COVID-19 pandemic forced the global corporate community to react to the unforeseen. Also other challenges, such as global warming and extreme weather events have been pushing companies to prepare for risks other than only those of a purely financial nature. An integrated approach and sufficient focus is therefore key. For investors, the relevance and importance of environmental, social and governance (ESG) factors has never been more pressing. The 2020 EY global investment study revealed that no less than 98% of investors conduct a formal or informal review of non-financial disclosures, compared to only 64% in 2013. The extent to which businesses are prepared for ESG risks, plays a central role in an investor’s decision-making and long-term investment management.
China’s State Administration of Market Regulation said on Monday it would further regulate the sharing consumption sector. The regulator said on its website that price hikes in the sharing economy were effectively contained due to its guidance of the industry.
Hurricane Ida became a tropical storm as its top winds slowed over Mississippi on Monday, while across southeast Louisiana residents waited for daylight to be rescued from floodwaters and see how much damage was caused by one of the most powerful hurricanes ever to strike the US mainland. All of New Orleans lost power right around sunset Sunday, leading to an uneasy night of pouring rain and howling winds. The weather died down shortly before dawn and people began carefully walking around neighborhoods with flashlights, dodging downed light poles, pieces of roofs and branches.