Wanted: Long-term thinking in global definition of ‘fiduciary duty’

Current rules drive short-term profit-maximization and undervalue longer-term and macroeconomic risks. Mark Wilson, CEO of Aviva, the UK insurance giant, called on the UN, OECD and G20 to establish a global definition of fiduciary duty to shift the regulatory focus. Short-termism “can have the unintended consequence of hampering sustainable investment,” Wilson said at a London

Can India get to 100 percent in electric vehicles by 2030?

Well, they’re working on a plan. The first phase of the program provides incentives for electric and hybrid bikes and cars. The next phase will include additional incentives for public transportation including for electric buses, three-wheelers and taxis. The government also is developing a no-money-down electric car purchasing program that lets buyers pay the loan back out

Aavishkaar backs Indonesian startup Qlapa to expand online handicraft marketplace

Aavishkaar has backed Indonesian startup Qlapa to expand its online handicraft marketplace. The startup in West Jakarta has 65,000 local crafts from over 4,000 Indonesian sellers on its e-commerce platform. Like Etsy, Qlapa allows buyers to buy directly from craft makers, cutting out middlemen. Aavishkaar led the fundraising; terms weren’t disclosed, but the Mumbai firm’s

Taiwanese startup The News Lens raises new funds to take on Asia media establishment

Taiwanese startup The News Lens has raised new funds to take on the Asia media establishment. The digital publication targets younger, educated audiences disillusioned with Asia’s tabloid-driven, traditional media outlets. The site has grown to more than five million monthly visitors since 2013 and includes editions for Hong Kong and international readers and has plans for

Philly health fund backs VitalTrax to build software for clinical trials

A $6 million Philadelphia fund launched in December to back local health startups and position the city as a health tech hub has made its first investment. VitalTrax has developed a mobile app, Wing, to help research teams more easily recruit and communicate with clinical trial patients. The VitalTrax team is based out of the

Three social ventures get backing from Indian Institute of Technology Kanpur

Three social ventures have received backing from the Indian Institute of Technology Kanpur. The school in the northern India state of Uttar Pradesh made the investments from the Rs 7.5 crore ($1.5 million) INVENT fund. The startups include Decentrik Technologies, which develops mobile water stations; Promorph Solutions, an edtech provider; and Prosoc Innovators, which designs products

Can rollup of Mexican energy-efficiency projects jumpstart green bonds in Latin America?

Climate Finance One region is lagging the global green bond boom: Latin America. Following a $204 million bond for a Peruvian wind farmer in 2014, there have been only six green-bond issues in the region, according to Latin Finance. Weak creditworthiness and small projects have discouraged commercial investors and hindered the market. To combat “a market failure