CSR-in-Action Hosts Industry Leaders at its PIA Webinar.√√√Newzspy.

CSR-in-Action Group, a leader in sustainability-driven initiatives globally, successfully convened prominent industry leaders at its recent webinar to discuss the implementation of the Petroleum Industry Act (PIA). Themed “Navigating the Shift – Essential Implementation Insights for Businesses”, the event provided a platform for key stakeholders to examine the PIA’s impact on community stakeholders.

Meka Olowola, Director of CSR-in-Action, opened the webinar by highlighting the importance of the event.  He said, “We recognise that all stakeholders, particularly businesses, are navigating new territory with the PIA, and their ability to do so effectively is key to the Act’s successful implementation. This is the basis for this event as a part of our constructive engagement process.”

He referenced the research conducted by CSR-in-Action, supported by the Ford Foundation, which underscored critical aspects of the PIA’s implementation. These include a substantial gender imbalance in leadership roles, a lack of comprehensive needs assessments by oil companies, and overall low awareness of the Host Community Development Trust (HCDT) framework within communities.  This crucial research highlights the need to include these groups in the broader narrative of Nigeria’s oil and gas reform.

The event featured esteemed panellists, including Dr. Orji Ogbonnaya Orji, Executive Secretary, NEITI; Mr. Dayo Okusami, Partner, Templars; Akinbambo Ibidapo-Obe, General Manager and Head of Commercial at Oando Energy Resources; Glory Alexander Thomas, Secretary Management of the Ibeno HCDT; and Eugenia Onyiriuka, Chairperson of the Board of Trustees for the Assa North HCDT. These leaders shared valuable insights on how implementing the PIA is reshaping Nigeria’s oil and gas sector, particularly in promoting transparency, inclusivity, and environmental responsibility.

A key highlight of the webinar was the discussion about the governance challenges of the PIA.  Dr Orji Ogbonnaya stated “The PIA is being implemented agency by agency without a coordinated, comprehensive strategy to guide the process. This is a major concern, as a stakeholders-driven, coordinated implementation plan, involving civil society, companies, and government is key to ensuring transparency and accountability. Without such coordination, agencies may avoid pushing the boundaries of transparency and accountability.”

Q & A Session at the PIA Webinar.

Dayo Okusami also highlighted the critical role of transparency in the governance of the petroleum sector, noting that “Before the PIA of 2021, the last major legislation in the oil and gas sector was almost 60 years old. The PIA represents progress, but we must focus on realistic and sustainable implementation. No law is perfect. The PIA needs time, proper implementation, and patience.” 

The importance of community consultation was also underscored by Glory Alexander Thomas, who stated, “Projects without diligent consultation with the host communities tend to lead to failure.” This sentiment was echoed by Mrs. Eugenia Onyiriuka, who remarked, “The PIA has changed a lot of things, including how women are involved in community affairs”.

According to Akinbambo Ibidapo-Obe, “The PIA presents a unique opportunity for HCDT to empower women and promote women-owned businesses as key service providers to the industry. At Oando, we are intentional about expanding our supply chain to include more women-owned businesses, ensuring they play a significant role in driving the sector forward.” 

Meka Olowola concluded by emphasising CSR-in-Action’s leading role in sustainability reporting, showcasing their pioneering work in developing the first IFRS S1&S2 compliant sustainability report for a leading organisation in the oil and gas sector.

For more information on the PIA Implementation Research Report, visit https://www.sitei.org/pia-research

About CSR-in-Action Group:

CSR-in-Action Group is a sustainability-driven global consortium with a presence in Nigeria, Canada, and internationally. We specialise in consulting, advocacy, and training services, focusing on organisational development, corporate governance, and sustainability management. Our mission is to deliver solutions for sustained business development through ethical professionalism, flexibility, innovation, and global partnerships.

Signed:

CSR-in-Action

Contact:
Chinonso Vincent
CSR-in-Action Group
Email: comms@csr-in-action.com, sitei@sitei.org
Telephone: +234 906 263 4122

Share this:

• WhatsApp

• Tweet

• Share

• Save

• Like this

Send your press invite, news, press releases/articles to newzspy25@gmail.com Also, follow us on Twitter @newzspy and on Facebook on facebook.com/newzspy or call the Publisher/Photojournalist on 08068030592.

At Newzspy we are dedicated to delivering high-quality news and information to our readers. We are dedicated to providing our readers with high-quality news and information daily. 

Leave a Reply:

Your email address will not be published. Required fields are marked *

For , Event Coverage, PR, Story/Article Publication & Other Media Services Pls., Send Email To: newzspy25@gmail.com 

Please Kindly Visit Our New Online News Web  http://newzspy.ng/wp/  To Read More Latest, Health, Politics, Business, Sports, Happenings And Interesting News.

MISSION STATEMENT 

To provide an exceptional news, balance our stories and shine a positive light on our society.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @NigeriaGov @NGRSenate @HouseNGR @TradeInvestNG. #Flip #Filminthepark

CSR-in-Action to Host 13th SITEI Conference Focused on “Extractives for Green Growth”.√√√Newzspy.

CSR-in-Action, a leading international sustainability advocacy and consulting firm, is set to host the 13th annual Sustainability in the Extractive Industries (SITEI) Conference on Tuesday, 22nd October 2024. This year’s conference, themed “Extractives for Green Growth: The Strategic Role of Extractives in the Just Transition into an Inclusive Green Economy,” will delve into the pivotal role that extractive industries play in driving the transition towards a sustainable, inclusive green economy.

The SITEI Conference,  CSR-in-Action’s flagship event for leaders in mining, oil, gas, and allied sectors, continues to serve as a platform for meaningful discourse between industry stakeholders, government, civil society, academia, and local communities. Since its inception in 2012, SITEI has addressed critical issues impacting the extractive industries while fostering collaboration and promoting sustainable development practices.

Speaking about this year’s conference, Bekeme Olowola, Chief Executive, CSR-in-Action and Convener of SITEI, said, “The global transition towards a low-carbon, inclusive economy presents both challenges and opportunities for the extractive sector. Through SITEI 2024, we aim to explore how extractive industries can adapt their practices and contribute meaningfully to this transition, ensuring that environmental responsibility, social justice, and economic prosperity are achieved in tandem.”

The discussions at SITEI 2024 will be tailored for professionals and leaders in the sector seeking to gain deeper insights into the evolving dynamics of extractive industries. Topical policy, strategic, technical, and social issues will be addressed through expert panel sessions and keynote presentations. This year’s conference will also feature the CAHR Africa Awards Prize-Giving Ceremony, recognising outstanding contributions to advancing human rights and sustainability in Africa.

The  Conference will attract key stakeholders from across the extractive value chain, including global, regional, and local industry leaders, government officials, civil society representatives, academia, and media. With more than 10 speakers, the event will provide a robust platform for networking, knowledge sharing, and collaborative action.

Over the years, the SITEI Conference has featured distinguished speakers such as Dr Ibe Kachikwu, Past Honourable Minister of State for Petroleum Resources, Dr Kayode Fayemi, Past Honourable Minister of Mines and Steel Development, Dr Ogbonnaya Orji, Executive Secretary of NEITI, and Oby Ezekwesili, Former Vice President of the World Bank (Africa Region), among others. The event continues to be a critical gathering for those shaping the future of extractive industries in Nigeria and beyond.

CSR-in-Action Advocacy, a non-profit organisation under the CSR-in-Action Group, has been at the forefront of promoting community and corporate governance in extractive communities since 2010. Through initiatives like the SITEI Conference, SITEI Roadshows, SITEI-Woman, and the Community Engagement Standards (CES), CSR-in-Action remains committed to driving sustainable development through social justice and accountability. Through the years, the SITEI Initiative has impacted tens of thousands of professionals and future leaders, fostered policy changes, and increased awareness on sustainability issues within the extractive industries. 

Signed:

CSR-in-Action

Contact:
Chinonso Vincent
CSR-in-Action Group
Email: bizdev@csr-in-action.com, sitei@sitei.org
Telephone: +234 906 263 4122.

Share this:

• WhatsApp

• Tweet

• Share

• Save

• Like this

Send your press invite, news, press releases/articles to newzspy25@gmail.com Also, follow us on Twitter @newzspy and on Facebook on facebook.com/newzspy or call the Publisher/Photojournalist on 08068030592.

At Newzspy we are dedicated to delivering high-quality news and information to our readers. We are dedicated to providing our readers with high-quality news and information daily. 

Leave a Reply:

Your email address will not be published. Required fields are marked *

For , Event Coverage, PR, Story/Article Publication & Other Media Services Pls., Send Email To: newzspy25@gmail.com 

Please Kindly Visit Our New Online News Web  http://newzspy.ng/wp/  To Read More Latest, Health, Politics, Business, Sports, Happenings And Interesting News.

MISSION STATEMENT 

To provide an exceptional news, balance our stories and shine a positive light on our society.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @NigeriaGov @NGRSenate @HouseNGR @TradeInvestNG. #Flip #Filminthepark

“Tech Innovator Colin Huang Overtakes China’s Wealthiest with $48.7B Net Worth”.√√√Newzspy.

In a remarkable ascent to wealth and influence, Colin Huang, the 44-year-old entrepreneur, has claimed the title of China’s richest man, amassing a staggering net worth of $48.7 billion, according to the Bloomberg Billionaire Index. Huang, renowned for his entrepreneurial prowess and a keen eye for successful ventures, is the mastermind behind Pinduoduo (PDD), one of China’s leading e-commerce platforms. His wealth is largely derived from a 25% stake in Pinduoduo, held through two British Virgin Islands-based entities: Walnut Street Investment and Walnut Street Management, as outlined in Pinduoduo’s 2023 annual report.

The Genesis of Pinduoduo: A Revolutionary E-Commerce Platform

Pinduoduo, headquartered in Shanghai, has grown to become a titan in the Chinese e-commerce landscape, boasting 751 million monthly active users as of May 2022. The platform, launched in 2015, was born out of Huang’s vision to create a new model of online shopping centered around collaborative group buying. This innovative approach has allowed Pinduoduo to carve out a unique space in the competitive market, appealing particularly to price-sensitive consumers.

In July 2020, Huang made a surprising announcement, revealing his decision to reduce his shareholding in Pinduoduo and step down as CEO. This move was accompanied by a philanthropic gesture, where Huang donated a 2.4% stake in Pinduoduo to an irrevocable charitable trust, aimed at supporting scientific research. Additionally, he transferred a 7.7% stake to the Pinduoduo Partnership, and another 2.7% stake was given to an early investor. Despite stepping back from the day-to-day operations, Huang’s influence on the company remains significant, and his vision continues to drive its success.

Early Life and Career: From Hangzhou to Silicon Valley

Colin Huang’s journey to becoming China’s richest man is a testament to his relentless pursuit of excellence and innovation. Raised in Hangzhou, China, Huang exhibited exceptional academic abilities from a young age. At just 12 years old, he was admitted to the prestigious Hangzhou Foreign Language School. His academic journey continued at Zhejiang University, where he earned a degree in computer science before moving to the United States to pursue a master’s degree in the same field at the University of Wisconsin.

Huang’s professional career began in 2004 at Google’s headquarters, where he served as a software engineer and project manager. His role at Google was instrumental in shaping his understanding of the tech industry, and in 2006, he was part of the team that established Google China. However, Huang’s entrepreneurial spirit soon led him to venture out on his own.

In 2007, Huang founded Ouku.com, an e-commerce platform specializing in consumer electronics. The platform was a success, and he sold it in 2010. He then launched Leqi, a marketing platform designed to help companies on major Chinese e-commerce sites, and later delved into the gaming industry with role-playing games on WeChat. Despite these successes, Huang’s relentless work ethic took a toll on his health, prompting him to retire temporarily in 2013.

The Birth of Pinduoduo and Beyond

During his brief retirement, Huang began to conceptualize Pinduoduo, drawing inspiration from the strategies of Chinese tech giants Alibaba and Tencent. With an initial funding of $8 million, Pinduoduo was launched in 2015, and within a year, it had raised $100 million, fueling its rapid growth. The company went public in the United States in 2018, further cementing its position as a major player in the global e-commerce market.

In 2020, Huang made another pivotal decision, stepping down as CEO to focus on research in food and life sciences. A year later, he resigned as chairman, signaling his intention to pursue new challenges and opportunities. Despite these moves, Huang remains closely associated with Pinduoduo, and his legacy is deeply intertwined with the company’s success.

The Launch of Temu: A New Chapter in Huang’s Entrepreneurial Journey

In 2022, Huang embarked on a new venture with the launch of Temu, an online platform under PPD Holdings. Temu has quickly become the cornerstone of Huang’s wealth, offering a wide range of heavily discounted products to consumers in the United States and the United Kingdom. The platform’s success is largely due to its ability to leverage China’s low manufacturing costs and direct-to-consumer shipping, allowing it to maintain highly competitive prices.

However, Temu’s rapid rise has not been without challenges. The company has faced protests from suppliers in China, particularly in Guangzhou, over what they claim are disproportionately high fines for issues such as poor customer service, incorrect product descriptions, and late deliveries. Some of these fines are reported to be as high as five times the product’s wholesale price, leading to significant dissatisfaction among suppliers. Additionally, there have been concerns about Temu’s demanding work schedules, with reports of employees working from “11 am to 11 pm plus overtime.”

Further complicating matters, the European Union is reportedly considering new import taxes on packages from Chinese online discount retailers like Temu, Shein, and AliExpress. This move, aimed at protecting European businesses from the intense price competition posed by these platforms, could potentially impact Temu’s ability to maintain its aggressive pricing strategy in Europe.

Colin Huang: The Face of a New Wave of Chinese Billionaires

Colin Huang’s success story is emblematic of a new generation of Chinese billionaires who have built their fortunes in the tech industry. Known for their willingness to take risks and push the boundaries of innovation, these entrepreneurs are reshaping the global economic landscape. Huang’s journey from a young boy in Hangzhou to the richest man in China is a testament to the transformative power of technology and the opportunities it presents for those who dare to dream big.

As Huang continues to explore new frontiers in the tech world, his impact on the industry and the global economy is likely to grow even further. Whether through his continued involvement in Pinduoduo or his new ventures like Temu, Colin Huang is a name that will undoubtedly remain at the forefront of global business and innovation for years to come.

Share this:

• WhatsApp

• Tweet

• Share

• Save

• Like this

Send your press invite, news, press releases/articles to newzspy25@gmail.com Also, follow us on Twitter @newzspy and on Facebook on facebook.com/newzspy or call the Publisher/Photojournalist on 08068030592.

At Newzspy we are dedicated to delivering high-quality news and information to our readers. We are dedicated to providing our readers with high-quality news and information daily. Your support through donations helps us maintain our commitment to rigorous research and reporting.

COMPANY ACCOUNT NAME: IGWENONI MULTIMEDIA VENTURES.

ACCOUNT NUM: 1225143163

BANK ACCOUNT NAME: ZENITH NIG

Leave a Reply:

Your email address will not be published. Required fields are marked *

For , Event Coverage, PR, Story/Article Publication & Other Media Services Pls., Send Email To: newzspy25@gmail.com 

Please Kindly Visit Our New Online News Web  http://newzspy.ng/wp/  To Read More Latest, Health, Politics, Business, Sports, Happenings And Interesting News.

MISSION STATEMENT 

To provide an exceptional news, balance our stories and shine a positive light on our society.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising