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Societe Generale SCGLY announced the issuance of its first-ever digital green bond on the Ethereum public blockchain in the form of a Security Token.

What Happened: SG-Forge, Socits subsidiary, registered the bond worth around $11 million, and it went live on Nov. 30, 2023. With a maturity of three years, the bonds green status implies net proceeds to be used for financing or refinancing products and companies classified under the ESG category.

The tokens have been fully subscribed through a private placement by two top-tier institutional investors, AXA Investment Managers and Generali Investments.

AXA acquired and spent 5 million worth of Socit Gnrales euro-denominated ERC-20 stablecoin called EUR CoinVertible (EURCV). This stablecoin was launched in April 2023.

Ethereum was chosen as the blockchain boasts relatively low greenhouse gas emissions. Socit Gnrales stablecoin was also launched on the Ethereum blockchain.

Why It Matters: The green bonds digital infrastructure enables all-time access to the data on its carbon footprint through the smart contract. It also ensures transparency, better fluidity, and high speed in transactions and settlements.

The bond also has a technical option for investors to settle securities on-chain through the EUR CoinVertible, a euro-pegged stablecoin.

AmidCentral Bank Digital Currencies (CBDCs) gaining prevalence globally, the third-largest bank in France said, While CBDC solutions are being experimented with, this panel of settlement methods demonstrates the large capabilities of SG-FORGE in providing a full spectrum of on-chain services.

Now Read:Bitcoin ETFs: Taiwan Takes Caution Despite Global Frenzy, Citing Crypto Volatility

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Politics

Rishi Sunak apologises to infected blood scandal victims and says it is ‘day of shame for British state’

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Rishi Sunak apologises to infected blood scandal victims and says it is 'day of shame for British state'

Prime Minister Rishi Sunak has offered a “wholehearted and unequivocal” apology to the victims of the infected blood scandal, saying it was a “day of shame for the British state”.

Mr Sunak said the findings of the Infected Blood Inquiry’s final report should “shake our nation to its core”, as he promised to pay “comprehensive compensation to those infected and those affected”, adding: “Whatever it costs to deliver this scheme, we will pay it.”

The report from the inquiry’s chair Sir Brian Langstaff blamed “successive governments, the NHS, and blood services” for failures that led to 30,000 people being “knowingly” infected with either HIV or Hepatitis C through blood products. Around 3,000 people have now died.

The prime minister said for any government apology to be “meaningful”, it had to be “accompanied by action”.

Politics live: Thatcher’s health secretary ‘disparaging’ to infected blood victims

Speaking in the Commons, Mr Sunak called it a “calamity”, saying the report showed a “decades-long moral failure at the heart of our national life”, as he condemned the actions of the NHS, civil service and ministers – “institutions in which we place our trust failed in the most harrowing and devastating way”.

The prime minister said they “failed this country”, adding: “Time and again, people in positions of power and trust had the chance to stop the transmission of those infections. Time and again, they failed to do so.

“I want to make a whole-hearted and unequivocal apology for this terrible injustice.”

Victims and campaigners outside Central Hall in Westminster.
Pic; PA
Image:
Victims and campaigners outside Central Hall in Westminster.
Pic: PA

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Pointing to key findings in the report – from the destruction of documents through to failures over screening – Mr Sunak said there had been “layer upon layer of hurt endured across decades”.

He also apologised for the “institutional refusal to face up to these failings and worse, to deny and even attempt to cover them up”, adding: “This is an apology from the state to every single person impacted by this scandal.

“It did not have to be this way. It should never have been this way. And on behalf of this and every government stretching back to the 1970s, I am truly sorry.”

Labour leader Sir Keir Starmer also apologised for his party’s part in the scandal, telling the Commons: “I want to acknowledge to every single person who has suffered that in addition to all of the other failings, politics itself failed you.

“That failure applies to all parties, including my own. There is only one word, sorry.”

Read more:
100 faces of the infected blood scandal
Analysis: Report makes for difficult reading – but vindicates victims
The day as it happens as ‘chilling’ cover-up laid bare

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Infected blood victims ‘betrayed’ by NHS

In his report, released earlier on Monday, Sir Brian issued 12 recommendations – including an immediate compensation scheme and ensuring anyone who received a blood transfusion before 1996 was urgently tested for Hepatitis C.

He also called for compensation – something Mr Sunak said would come and would be outlined in the Commons on Tuesday.

But speaking to Sky News’ Sarah-Jane Mee, he warned the “disaster” of the scandal still wasn’t over, saying: “More than 3,000 have died, and deaths keep on happening week after week.

“I’d like people to take away the fact that this is not just something which happened. It is happening.”

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Inquiry chair Sir Brian Langstaff spoke to Sky’s Sarah-Jane Mee.

Sir Brian said what had happened to the victims was “no accident”, adding: People put their trust in the doctors and the government to keep them safe. That trust was betrayed.

“And then the government compounded the agony by repeatedly saying that no wrong had been done.”

But he hoped the report would ensure “these mistakes are not repeated”.

He told Sky News: “We don’t want another 30,000 people to go into hospital and come out with infections which were avoidable, which are life-shattering, which were no accident.

“And we don’t want the government to end up being defensive about them – but instead to be candid [and] forthcoming in the ways which I’ve just suggested.”

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Environment

Toyota announces nationwide dealer rollout of Tern Class 8 electric semi

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Toyota announces nationwide dealer rollout of Tern Class 8 electric semi

Launched as a joint venture between Toyota Group and Tier 1 supplier Hexagon Purus, the new Tern brand of heavy duty electric trucks announced Hino Trucks as its exclusive US distributor.

Another Toyota Group brand, Hino Trucks nevertheless brings a nationwide network of more than 200 heavy truck dealers (and their customers) to the new JV with Hexagon, which is specifically focused on electrifying “practical” commercial vehicle applications.

Glenn Ellis, President and CEO of Hino Trucks, expressed enthusiasm about the partnership. “Our collaboration with Hexagon Purus introduces a highly reliable Class 8, 4×2 tractor option into the electric truck market, catering to a wide range of applications,” he explained. “We are excited to be the exclusive distributor for Tern with an initial distribution focus in California, where fleet electrification is imperative.”

Tern RC8 electric semi

The new Tern RC8 electric truck offers a 68,000 lb. GVWR, 680 peak horsepower electric motor (494 continuous), a 200 mile range, and the ability to go from 0-80% charge in less than two hours at 240 kW. Energy comes from dual Hexagon Purus Gen3 269kWh battery packs in a 750-volt, 538 kWh configuration.

The announcement coincides with California’s Advanced Clean Fleets regulation, and was made today at the ACT Expo, which is taking place this year in the West Hall of the Las Vegas Convention Center. Serial production for the Tern RC8 is scheduled to begin later this year.

Electrek’s Take

Tern RC8 electric semi truck; via Hino Truck.

It’s hard to act surprised that a Toyota brand is going to be supported by Toyota’s existing dealer network, but it’s worth noting that, while Toyota is marketing/lobbying against EVs on the one hand, it’s quietly investing big bucks into battery electric on the other.

My guess: as soon as Toyota has a viable BEV on the market, they’ll “suddenly” realize that BEVs were the way to go all along. #bet

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Politics

SEC rumored to be reconsidering spot Ether ETF denial, say analysts

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SEC rumored to be reconsidering spot Ether ETF denial, say analysts

ETF analysts James Seyffart and Eric Balchunas said they had increased their odds of the SEC approving a spot Ether exchange-traded fund from 25% to 75%.

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