{"id":80603,"date":"2023-11-14T00:00:00","date_gmt":"2023-11-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/11\/14\/south-pole-ceo-resigns-after-greenwashing-allegations-and-us-indonesia-explore-minerals-cooperation\/"},"modified":"2023-11-14T00:00:00","modified_gmt":"2023-11-14T00:00:00","slug":"south-pole-ceo-resigns-after-greenwashing-allegations-and-us-indonesia-explore-minerals-cooperation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/11\/14\/south-pole-ceo-resigns-after-greenwashing-allegations-and-us-indonesia-explore-minerals-cooperation\/","title":{"rendered":"South Pole CEO resigns after greenwashing allegations and US + Indonesia explore minerals cooperation"},"content":{"rendered":"

South <\/strong>Pole CEO steps down after greenwashing allegations:<\/strong> South Pole, the world\u2019s biggest carbon offsets seller, says its CEO and cofounder Renat Heuberger is stepping down following allegations of greenwashing by the company, Bloomberg<\/a> reports. This comes after South Pole announced it was terminating operations<\/a> in Zimbabwe\u2019s Kariba REDD+ projects \u2014 one of the world\u2019s largest forest conservation and carbon credit schemes \u2014 aimed to prevent deforestation around Lake Kariba. South Pole has said that the project failed to meet the standards it expected from its partners.<\/p>\n

REMEMBER-<\/strong> Independent experts and South Pole\u2019s own analysis found that the firm vastly overestimated the extent of the preservation by Kariba. South Pole said at the time that the credits were legitimate and would still benefit the climate despite the studies concluding that the project failed to generate enough atmospheric benefit.<\/p>\n

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Hyundai is building an EV-dedicated plant in South Korea:<\/strong> South Korean automaker Hyundai broke ground on a domestic EV manufacturing facility in Ulsan which will have an annual 200k production capacity, according to a statement<\/a>. The company says it will shell out KRW 2 tn (c. USD 1.53 bn) to build the plant and full-scale construction will begin in Q4 2023, with mass production commencing in Q1 2026. Hyundai Motor Group had said in September will invest USD 12 bn<\/a> in EV manufacturing and battery production.<\/p>\n

The company is also eying MENA for EV production:<\/strong> KSA\u2019s Public Investment Fund (PIF) and Hyundai Motor signed a JV agreement<\/a> last month to establish a USD 500 mn highly automated vehicle manufacturing plant in the kingdom. Automaker Hyundai Kefico \u2014 a subsidiary of Hyundai \u2014 also signed a KRW 250 bn (c. USD 196 mn)<\/a> agreement in July to supply spare parts to Saudi Arabia\u2019s first EV manufacturing company Ceer.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n