Economy
Zurich Resilience Solutions and GoImpact Capital Partners forge strategic alliance to bolster climate resilience across Asia Pacific
This collaboration integrates ZRS’ advanced physical climate risk analysis, proprietary climate and financial loss data, and specialized tools with GoImpact’s sustainability education expertise, delivering a comprehensive solution to help businesses identify, assess, and adapt to climate risks.
Enhancing climate resilience with ready-to-go solutions
The partnership offers a ready-to-go suite of solutions that address the urgent need for actionable climate adaptation strategies. Businesses can benefit from:
- Data-driven climate risk assessments: ZRS’ proprietary tools to evaluate exposures to physical climate risks like extreme weather and supply chain disruptions.
- Climate resilience guidance and training: Support for organisations to build resilience in their assets, operations, and people.
- ESG knowledge upskilling: GoImpact’s structured sustainability learning programmes to keep companies informed about market trends and regulatory requirements.
- Regulatory reporting support: Assistance in meeting disclosure and reporting requirements related to physical climate risks.
By combining ZRS’ technical expertise with GoImpact’s practical learning resources, the alliance delivers a robust toolkit for businesses to enhance resilience and seize opportunities in the sustainability landscape.
Driving climate resilience and sustainability in business
Initially targeting businesses in Hong Kong, Singapore, and Malaysia, the strategic alliance aims to address key climate risks such as extreme weather events, supply chain disruptions, and operational vulnerabilities. Leveraging ZRS’ deep knowledge in climate resilience and GoImpact’s strong regional presence in sustainability advocacy, the alliance is well-positioned to empower companies to implement effective climate adaptation solutions.
Commenting on the partnership, Dr Amar Rahman, Global Head Climate & Sustainability Solutions, Zurich Resilience Solutions said: “Zurich Resilience Solutions’ partnership with GoImpact highlights the critical role of education in fostering climate resilience. The appetite for implementing effective solutions hinges on understanding the challenges at hand and the potential impact of inaction on business operations.”
“Through this collaboration, we aim to elevate awareness and empower public and private sector entities to take meaningful steps toward sustainability, developing solutions that protect their operations and strengthen their resilience against climate change.”
With better knowledge of the latest ESG trends, organizations can be better positioned to take advantage of market conditions and build a sustainable future for themselves and increase the resilience of the communities in which they operate.
“We are excited about this timely partnership between Zurich Resilience Solutions and GoImpact. Our combined strengths are complementary and form a holistic toolkit of offering on risk assessment, learning and advocacy that bridges a significant market gap, for large corporations and small medium enterprises alike,” said Helene Li, CEO and Co-Founder of GoImpact.
Hashtag: #ZurichResilienceSolutions
The issuer is solely responsible for the content of this announcement.
Zurich Resilience Solutions
Zurich Resilience Solutions, the risk advisory business of Zurich Insurance Group, leverages 150 years of industry experience and 75 years of risk engineering expertise to address the risk management needs of both existing and new customers. The unit offers specialized insights, tools, and solutions to help businesses tackle traditional and evolving risks, such as climate change and cybersecurity.
As a global entity, Zurich Resilience Solutions has over 950 risk experts stationed in 40 countries, bringing local expertise and industry specializations to clients worldwide. Its capabilities and solutions are available to any organization seeking a proactive approach to risk management and long-term resilience.
GoImpact Capital Partners
Bridging the great divide between the talk and action, accelerating the Sustainable Development agenda from intention to implementation – GoImpact means impact made easy and actionable.
GoImpact has established significant market footprint on its mission to drive the sustainability agenda forward, bridging the knowledge gap between talk and action. We offer the best ESG learning experience in the market, providing case-based, experiential learning courses which are crafted and delivered by a group of world-class experts in sustainable finance and ESG.
Through its partners network across Asia Pacific which includes regulators, financial institutions and large corporations, delivering online-to-offline initiatives, GoImpact connects stakeholders across sectors and provide learning and advocacy opportunities to drive real change by example for everyone who is keen to understand more about the full spectrum of Sustainability and Resilience agenda.
Economy
Naira Appreciates to N1,567/$1 at Official Market
By Adedapo Adesanya
Data obtained from the Central Bank of Nigeria (CBN) has shown that the Naira appreciated further against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, December 5 by N46.69 or 2.9 per cent to settle at N1,567.00/$1 compared with the preceding day’s N1,613.69/$1.
The value of the local currency has been improving since the CBN-backed Electronic Foreign Exchange Matching System (EFEMS), which sets new guidelines for authorised Foreign Exchange (FX) dealers, became effective this month, boosting operational efficiency and transparency of the nation’s FX market commenced operation.
Since dealers are tasked with conducting due diligence, providing transparent pricing and offering market access through digital solutions, this has eliminated unnecessary pricing of the exchange rate.
The system offers spot-matching functionality to the interbank community for the US Dollar against other currencies. It allows anonymous orders to be placed into a central limit order book, which is displayed and matched with counterparty orders based on mutual trading limits and other parameters configured by each bank.
Yesterday, the domestic currency closed flat against the Pound Sterling and the Euro in the spot market at N2,044.86/£1 and N1,691.31/€1, respectively.
Similarly, the value of the Nigerian currency remained unchanged against the US Dollar in the black market during the trading session at N1,705/$1.
In the cryptocurrency market, Bitcoin’s (BTC) price plunged by 3.7 per cent to $98,006.76 on Thursday after its rapid retreat from its new all-time high of around $100,000 a day earlier.
On Wednesday, it had surged past the $100,000 mark for the first time in its history, fueled by institutional demand, corporate accumulation, and heightened expectations of crypto-friendly policies under Mr Donald Trump’s presidency, which commences next month.
Also, Dogecoin (DOGE) fell by 0.5 per cent to sell at $0.4377 and Cardano (ADA) slid by 0.04 per cent to trade at $1.19.
However, Litecoin (LTC) gained 7.9 per cent to quote at $136.60, Solana (SOL) added 2.8 per cent to settle at $239.40, Ripple (XRP) increased by 2.5 per cent to $2.36, Ethereum (ETH) rose by 2.3 per cent to $3,913.11, and Binance Coin (BNB) climbed higher by 1.1 per cent to $729.50, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
Economy
Customs Street Succumbs to Bears, Sheds 0.06%
By Dipo Olowookere
The bears resurfaced at Customs Street on Thursday, pulling down the market by a marginal 0.06 per cent at the close of trading activities.
The loss recorded by the Nigerian Exchange (NGX) Limited was due to profit-taking in the banking and industrial goods sectors, which closed lower by 0.26 per cent and 0.24 per cent, respectively.
This happened despite the sterling performances put up by the other sectors, as the insurance index gained 3.13 per cent, the energy counter improved by 1.13 per cent, and the consumer goods space rose by 0.02 per cent.
When the bourse ended for the day, the All-Share Index (ASI) was down by 60.88 points to 98,114.11 points from 98,174.99 points, and the market capitalisation decreased by N36 billion to settle at N59.476 trillion compared with the previous day’s N59.512 trillion.
The worst-performing equity yesterday was Red Star Express, which lost 10.00 per cent to close at N4.41, FTN Cocoa depreciated by 5.61 per cent to N1.85, NPF Microfinance Bank declined by 3.23 per cent to N1.50, Neimeth slipped by 2.78 per cent to N2.10, and Prestige Assurance tumbled by 2.50 per cent to 78 Kobo.
The best-performing equities were University Press and Cornerstone Insurance, which improved by 10.00 per cent each to trade at N3.96 and N3.30, respectively, Sterling Holdings gained 9.98 per cent to finish at N4.85, Sunu Assurances appreciated by 9.98 per cent to N4.63, and Golden Guinea Breweries expanded by 9.84 per cent to N4.91.
Business Post reports that despite the poor outcome, investor sentiment was bullish as the NGX finished with 35 price gainers and 16 price losers, representing a positive market breadth index.
Champion Breweries was the busiest stock on Thursday with a turnover of 300.9 million units worth N1.2 billion, Fidelity Bank transacted 48.6 million units valued at N783.0 million, GTCO traded 40.2 million units for N2.1 billion, Access Holdings exchanged 35.6 million units valued at N858.9 million, and Lafarge Africa sold 29.1 million units worth N2.1 billion.
At the close of business, the trading volume increased by 38.53 per cent, the trading value went down by 35.68 per cent, and the number of deals went down by 9.82 per cent.
This was because investors transacted 723.0 million shares valued at N12.8 billion in 8,495 deals compared with the 521.9 million shares worth N19.9 billion in 9,420 deals.
Economy
Crude Oil Dips as Investors Weigh Supply Expectations After OPEC+ Moves
By Adedapo Adesanya
Crude oil fell on Thursday as investors weighed the supply outlook after the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) delayed its planned output increase by three months to April 2025, with Brent going down by 22 cents or 0.3 per cent to trade at $72.09 a barrel and the US West Texas Intermediate (WTI) depleting by 24 cents or 0.35 per cent to finish at $68.30 a barrel.
OPEC+ had been planning to start unwinding cuts from October 2024 and after a meeting on Thursday, it agreed to extend the 2 million barrels per day and the 1.65 million barrels per day of cuts until the end of 2026 from the end of 2025 respectively.
Under its formal output strategy, the broader OPEC+ coalition is now restricting its combined production to 39.725 million barrels per day until December 31, 2026, after previously only applying this quota throughout 2025.
Eight OPEC+ members will now extend their 2.2 million barrels per day voluntary production decline into the first quarter and will begin hiking production incrementally between April and September 2026.
The alliance pumps around half of the world’s supply, but market analysts noted that the market is facing a surplus from non-OPEC producers.
So, while there is no shortage of oil, there is no positive sign of what to look forward to in the future to rally prices.
Cooling US Dollar provided some some support for oil prices, as it makes prices cheaper for holders of other currencies.
There are high expectations that the Federal Reserve will cut interest rates this month, a move that will further ease the Dollar’s strength and support the oil market.
Market analysts also warned that the oil market will now shift focus to the actions of US President-elect Donald Trump, who when he takes office on January 20, could impose new sanctions on Iran, and tariffs on China and has pledged an end to the Russia-Ukraine war.
Israel said on Tuesday it would return to war with Hezbollah if their ceasefire collapses and its attacks would go deeper into Lebanon and target the state itself.
Meanwhile, Donald Trump’s Middle East envoy has travelled to Qatar and Israel to kick-start the US president-elect’s diplomatic push to help reach a Gaza ceasefire and hostage release deal before he takes office.
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