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AWS and Arm Demonstrate Production-Scale Electronic Design Automation in the Cloud

By migrating semiconductor design and verification to AWS running on Graviton2-based instances, Arm is reducing cost and scheduling risks for new projects, increasing throughput by up to 10x, and freeing engineers to focus on innovation

SEATTLE–(BUSINESS WIRE)–
Today, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), announced that Arm, a global leader in semiconductor design and silicon intellectual property development and licensing, will leverage AWS for its cloud use, including the vast majority of its electronic design automation (EDA) workloads. Arm is migrating EDA workloads to AWS, leveraging AWS Graviton2-based instances (powered by Arm Neoverse cores), and leading the way for transformation of the semiconductor industry, which has traditionally used on-premises data centers for the computationally intensive work of verifying semiconductor designs. To carry out verification more efficiently, Arm uses the cloud to run simulations of real-world compute scenarios, taking advantage of AWS’s virtually unlimited storage and high-performance computing infrastructure to scale the number of simulations it can run in parallel. Since beginning its AWS cloud migration, Arm has realized a 6x improvement in performance time for EDA workflows on AWS. In addition, by running telemetry (the collection and integration of data from remote sources) and analysis on AWS, Arm is generating more powerful engineering, business, and operational insights that help increase workflow efficiency and optimize costs and resources across the company. Arm ultimately plans to reduce its global datacenter footprint by at least 45% and its on-premises compute by 80% as it completes its migration to AWS.

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Highly specialized semiconductor devices power the growing capabilities of everything from smartphones, to data center infrastructure, to medical equipment, to self-driving vehicles. Each chip can contain billions of transistors engineered down to the single-digit nanometer level (roughly 100,000x smaller than the width of a human hair) to drive maximum performance in minimal space. EDA is one of the key technologies that make such extreme engineering feasible. EDA workflows are complex and include front-end design, simulation, and verification, as well as increasingly large back-end workloads that include timing and power analysis, design rule checks, and other applications to prepare the chip for production. These highly iterative workflows traditionally take many months or even years to produce a new device, such as a system-on-a-chip, and involve massive compute power. Semiconductor companies that run these workloads on-premises must constantly balance costs, schedules, and data center resources to advance multiple projects at the same time. As a result, they can face shortages of compute power that slow progress or bear the expense of maintaining idle compute capacity.

By migrating its EDA workloads to AWS, Arm overcomes the constraints of traditionally managed EDA workflows and gains elasticity through massively scalable compute power, enabling it to run simulations in parallel, simplify telemetry and analysis, reduce its iteration time for semiconductor designs, and add testing cycles without impacting delivery schedules. Arm leverages Amazon Elastic Compute Cloud (Amazon EC2) to streamline its costs and timelines by optimizing EDA workflows across the wide variety of specialized Amazon EC2 instance types. For example, the company uses AWS Graviton2-based instances to achieve high-performance and scalability, resulting in more cost-effective operations than running hundreds of thousands of on-premises servers. Arm uses AWS Compute Optimizer, a service that uses machine learning to recommend the optimal Amazon EC2 instance types for specific workloads, to help streamline its workflows.

On top of the cost benefits, Arm leverages the high-performance of AWS Graviton2 instances to increase throughput for its engineering workloads, consistently improving throughput per dollar by over 40% compared to previous generation x86 processor-based M5 instances. In addition, Arm uses services from AWS partner Databricks to develop and run machine learning applications in the cloud. Through the Databricks platform running on Amazon EC2, Arm can process data from every step in its engineering workflows to generate actionable insights for the company’s hardware and software groups and achieve measurable improvement in engineering efficiency.

“Through our collaboration with AWS, we’ve focused on improving efficiencies and maximizing throughput to give precious time back to our engineers to focus on innovation,” said Rene Haas, President, IPG, Arm. “Now that we can run on Amazon EC2 using AWS Graviton2 instances with Arm Neoverse-based processors, we’re optimizing engineering workflows, reducing costs, and accelerating project timelines to deliver powerful results to our customers more quickly and cost effectively than ever before.”

“AWS provides truly elastic high performance computing, unmatched network performance, and scalable storage that is required for the next generation of EDA workloads, and this is why we are so excited to collaborate with Arm to power their demanding EDA workloads running our high-performance Arm-based Graviton2 processors,” said Peter DeSantis, Senior Vice President of Global Infrastructure and Customer Support, AWS. “Graviton2 processors can provide up to 40% price performance advantage over current-generation x86-based instances.”

About Amazon Web Services

For 14 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 175 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 77 Availability Zones (AZs) within 24 geographic regions, with announced plans for 18 more Availability Zones and six more AWS Regions in Australia, India, Indonesia, Japan, Spain, and Switzerland. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

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Amazon.com, Inc.

Media Hotline

[email protected]

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KEYWORDS: Washington Europe United States North America Asia Pacific

INDUSTRY KEYWORDS: Technology Semiconductor Other Technology Telecommunications Software Internet Hardware Electronic Design Automation Data Management

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Arm is migrating electronic design automation workloads to AWS, leveraging a range of Amazon EC2 instance types, including AWS Graviton2-based instances powered by Arm Neoverse cores. (Photo: Arm)

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 Philip Morris International Recognized Among World’s Top Sustainable Businesses with “Triple A” Score from CDP

 One of 10 Organizations Acknowledged by CDP for Environmental Leadership and Demonstrable Progress on Climate, Forests, and Water in 2020

LAUSANNE, Switzerland–(BUSINESS WIRE)–
Philip Morris International Inc. (PMI) (NYSE: PM) today announced its sustainability efforts have been recognized by two leading environmental organizations: CDP, the international nonprofit whose global disclosure system is used by investors, companies, and municipalities to measure and manage their environmental impacts, and the Science Based Targets initiative (SBTi), which drives ambitious climate action in the private sector by enabling companies to set meaningful emissions reduction targets.

André Calantzopoulos, PMI’s CEO, said, “Strong action must be taken to reduce the risks of climate change impacts and stop the destruction of nature. At PMI, we are investing in innovative programs and taking a multidisciplinary approach to reduce the environmental impact of our products, operations, and value chain.” He continued, “We firmly believe that by integrating sustainability into every aspect of our company, we will have a positive impact on both the long-term resilience of our business and the well-being of society. The validation of our efforts by CDP and SBTi reinforces that we’re on the right path and demonstrates the commitment of our teams and suppliers, who play an essential role in making our sustainability ambitions a reality.”

CDP has recognized PMI as a global environmental leader. Of the more than 5,800 organizations scored, PMI is one of only 10 companies worldwide to receive the “Triple A” score, which acknowledges the company’s best-in-class efforts in tackling climate change, as well as acting to protect forests and water security. This marks the seventh year that PMI has ranked on CDP’s A List for Climate Change. For the previous year, PMI also earned a position on the Water Security A List, and an A- for its forest disclosure. Combined, CDP’s most recent rankings place PMI among the select few to achieve a Triple A score and among the world’s most pioneering companies leading on environmental transparency and performance.

Further, SBTi verified PMI’s emissions reduction targets, confirming that PMI’s environmental efforts are grounded in science and consistent with the reductions required to meet the goals of the Paris Climate Agreement and limit global warming to 1.5 °C. SBTi’s validation emphasizes that PMI’s carbon reduction strategy is aligned with climate science to prevent the most damaging effects of climate change.

Jennifer Motles, Chief Sustainability Officer at PMI, said: “Despite the unprecedented challenges brought on by the global pandemic, we have not deviated from our efforts to be a more sustainable company. I am incredibly proud of our teams and suppliers around the world, whose dedication to combating the risks of climate change has made us one of a handful of companies recognized as a leader on corporate environmental transparency by both CDP and SBTi. These monumental achievements demonstrate not only the seriousness we attribute to ESG-related matters but also the level of expertise, talent, and passion our company is putting toward achieving our long-term targets and ultimately making impactful change happen.”

Earlier this year, PMI released its first-ever Integrated Report highlighting the progress made in 2019 toward a smoke-free future and the company’s performance in environmental, social, and governance (ESG) related areas. The report discloses the broad range of activities PMI is undertaking to achieve carbon neutrality in its direct operations (scopes 1 + 2) by 2030 and across its entire value chain (scopes 1 + 2 + 3) by 2050. In November, the company integrated its sustainability function under the leadership of PMI’s Chief Financial Officer, further reinforcing that PMI’s sustainability strategy is embedded in every aspect of its business.

Water stewardship and sustainable forest management are also a significant part of PMI’s efforts to reduce its environmental footprint. As the company increases its production capacity for smoke-free products, it is evolving its water strategy, with clean technology investments delivering water recycling. These efforts are guided by the Alliance for Water Stewardship standard, through which the company has had six factories certified. To combat deforestation and protect biodiversity, PMI has developed a zero deforestation manifesto and has set a goal to have a net positive impact on forests associated with its tobacco supply chain by 2025. Additionally, as part of PMI’s Good Agricultural Practices program, all tobacco suppliers and contracted farmers are expected to use and manage natural resources sustainably and minimize negative impacts on the environment.

Paul Simpson, CEO of CDP, said: “We extend our congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation, and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an ‘ambition loop’ for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our A List celebrates those companies that are preparing themselves to excel in the economy of the future by taking action today.”

Since announcing its commitment to a smoke-free future in 2016, PMI has actively focused its resources on developing, scientifically substantiating, and responsibly commercializing smoke-free products that are less harmful than smoking, with the aim of replacing cigarettes with smoke-free alternatives as soon as possible for those adults who would otherwise continue to smoke. The biggest positive impact PMI can have on society is to transform its business, and thus the company places this atop its sustainability priorities. As PMI rapidly progresses toward achieving its vision of a smoke-free future, it continues to enhance its sustainability efforts and embed sustainability into every aspect of its business.

The full list of companies on this year’s CDP A List is available here, along with other publicly available company scores: www.cdp.net/en/companies/companies-scores.

Additional information on PMI’s sustainability activities is available at PMI.com/Sustainability.

Note to editors

Philip Morris International: Delivering a Smoke-Free Future

Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke, society, the company, and its shareholders. PMI is a leading international tobacco company engaged in the manufacture and sale of cigarettes, as well as smoke-free products and associated electronic devices and accessories, and other nicotine-containing products in markets outside the United States. PMI ships a version of its smoke-free devices and consumables authorized by the U.S. Food and Drug Administration to Altria Group, Inc. for sale in the United States under license. PMI is building a future on a new category of smoke-free products that, while not risk-free, are a much better choice than continuing to smoke. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and scientific substantiation, PMI aims to ensure that its smoke-free products meet adult consumer preferences and rigorous regulatory requirements. For more information, please visit www.pmi.com and www.pmiscience.com.

About CDP

CDP is a global nonprofit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://www.cdp.net/en or follow us @CDP to find out more.

The full methodology and criteria for the A List is available on CDP’s website at: https://www.cdp.net/en/companies/companies-scores.

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Daniella Weinberg

Philip Morris International

T. +1 433 0447

E. [email protected]

KEYWORDS: Europe Switzerland United States North America New York

INDUSTRY KEYWORDS: Tobacco Retail Environment

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XLMedia Accelerates U.S. Sports Market Presence With CBWG Acquisition

• Strategic acquisition of professional and college sports, sports gaming and sports betting content provider
• CBWG founders Kyle Scott and Jason Ziernicki to remain with the business to spearhead future growth
• CBWG (“CBWG”) is comprised of CB Sports, Warwick Gaming, and its jointly-owned subsidiary CBWG Media Group

LONDON–(BUSINESS WIRE)–
XLMedia (“XLMedia” or the “Group” or the “Company”), a leading global digital performance publisher, today announces a significant step forward in its stated strategy to expand its presence in the high growth U.S. Sports market with the acquisition of sports gaming and sports betting business CBWG.

CBWG is a highly successful digital media publishing group based in the U.S. northeast producing in-depth, quality online content, focused on professional and college sports, sports gaming and sports betting.

“It is great to have acquired such an attractive set of assets during an inflection point for the U.S. Sports betting market,” said Stuart Simms, CEO of XLMedia. “On some estimates, almost 60% of the U.S. population is set to have legal access to Sports betting by the end of 2022 – this could include New York, where one of the key assets, EliteSportsNY.com, is focused.”

CBWG owns and operates the popular sports websites CrossingBroad.com and EliteSportsNY.com, and sports betting and gaming focused sites PASportsbooks.com, BetNewJersey.com, ActionRush.com, and PromoCodeKings.com. In addition to having agreements in place with some of the largest sports betting operators in the U.S., the business also has an agency arm, which partners with leading sports media brands to drive user acquisition in the regulated betting markets of Colorado, Illinois, and Tennessee. It is registered as a sports gaming affiliate in six states, including New Jersey and Pennsylvania.

As part of the deal, founders Kyle Scott and Jason Ziernicki will stay on in newly created roles that will leverage their background expertise and market experience in U.S. Sports. “In order to build upon the positive momentum of CBWG, it is important to retain the team, especially the founders, Kyle and Jason; it is great to be able to depend upon their sports expertise and knowledge. They are also exceptionally keen to play a central role in the next exciting stage of the journey, both for this business and for our broader U.S. operations,” said Simms.

“The strategic vision XLMedia has for the U.S. is a big reason why we decided to join forces with Stuart and his team. By combining our resources, I believe we have a collective vision that will take XLMedia to new heights here in the U.S. underpinned by strong affiliate-based growth to ultimately build a major media brand,” said Ziernicki.

“Our core audience is comprised of sports fans who appreciate honest and authentic voices. With our owned sites and agency partnerships, including brands that have built loyal audiences over a decade, we have trusted voices in local sports markets,” said Scott.

“It’s exciting to be able to establish such a meaningful presence in the U.S. through the CBWG acquisition,” said Ken Dorward, President of North America for XLMedia. “With the U.S. Sports betting market on the rise, leveraging the respective skills sets of our teams with the CBWG portfolio of sites and the XLMedia betting heritage should offer a powerful foundation for growth and scale.”

XLMedia will pay an upfront consideration of USD$12 million in cash, new XLMedia plc shares (representing an aggregate value of USD$3.5 million), as well as potential future contingent consideration of up to an additional USD$9.5 million.

About XLMedia:

XLMedia is a leading global digital performance publisher. Operating globally across a variety of verticals including online gambling, personal finance and sports, the Group has established proprietary tools and methodologies to identify and target high value consumers on behalf of its customers, brands and operators. XLMedia has identified North America as a core target market, where it has already established a solid foothold in Personal Finance, led by content-rich websites which are gaining traction. The Company will seek to further develop its Personal Finance presence and significantly increase its investment in the growing U.S. Sports market through partnerships and acquisitions.

About CBWG Media:

Jointly owned by CB Sports and Warwick Gaming, CBWG Media Group LLC encompasses the largest independently-owned U.S. sports betting affiliate network, across a range of markets.

Sites include:

CrossingBroad.com

EliteSportsNY.com

PromoCodeKings.com

PASportsbooks.com

BetNewJersey.com

ActionRush.com

CBWG also partners with other sites in select markets to deliver legal gambling operators comprehensive and superior marketing services that address all areas of the acquisition funnel.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201210005306/en/

For further information:

XLMedia Communications

Kieran McKinney, Investor Relations

[email protected]

Vigo Communications

Jeremy Garcia

Tel: 020 7390 0233

www.vigocomms.com

KEYWORDS: Europe United States United Kingdom North America

INDUSTRY KEYWORDS: Sports Casino/Gaming General Entertainment Entertainment General Sports

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Standard Insurance Limited Becomes Latest African Firm to Select Moody’s Analytics IFRS 17 Solution

LONDON–(BUSINESS WIRE)–
Moody’s Analytics today announced that Standard Insurance Limited, the insurance arm of Johannesburg-based Standard Bank Group and one of South Africa’s leading insurance providers, has selected the Moody’s Analytics RiskIntegrity™ for IFRS 17 solution to support its adoption of the new IFRS 17 accounting standard.

Standard Insurance Limited will use the RiskIntegrity for IFRS 17 solution as a software-as-a-service (SaaS) offering, allowing the firm to deploy the software immediately and accelerate its IFRS 17 implementation while benefiting from greater flexibility and ongoing cost savings.

The IFRS 17 standard represents a significant change in the financial reporting of insurance contracts. Insurers across Africa and around the world must implement systems that support the standard’s new calculations and reporting requirements. The RiskIntegrity for IFRS 17 solution connects data, models, systems, and processes between actuarial and accounting functions, helping Standard Insurance Limited meet the new financial reporting obligations.

“Given the complex nature of IFRS 17, it was essential that we select a provider with unrivaled data management capabilities and a robust calculation engine for managing the new requirements, as well as a proven track record of working with insurers in Africa. Moody’s Analytics ticked all of those boxes,” said Dr Nolwandle Mgoqi-Mbalo, Chief Executive at Standard Insurance Limited. “Using a SaaS solution removes several challenges related to maintenance and upgrades, since Moody’s Analytics manages the IT infrastructure and all of the software maintenance.”

“Developing new processes and implementing new systems to account for insurance contracts under IFRS 17 continues to be a priority for insurers in Africa,” said Christophe Burckbuchler, Managing Director at Moody’s Analytics. “Early adopters, such as Standard Insurance Limited, are looking for solutions that are quick to deploy, and can be efficiently scaled to meet the demanding data volume and performance requirements of the standard. Our solution, which integrates with Standard Insurance Limited’s existing actuarial and finance systems, offers out-of-the-box functionality, providing the organization with immediate usability. We look forward to working with Standard Insurance Limited, as they progress towards the IFRS 17 effective date.”

Earlier this year, Moody’s Analytics won IFRS 17 Solution of the Year and four other categories at the InsuranceERM Awards.

Learn more about the Moody’s Analytics suite of IFRS 17 solutions, and associated actuarial, risk, and finance solutions for insurers.

About Moody’s Analytics

Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter or LinkedIn.

Moody’s Analytics, Inc. is a subsidiary of Moody’s Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $4.8 billion in 2019, employs approximately 11,400 people worldwide and maintains a presence in more than 40 countries.

About Standard Insurance Limited

Standard Insurance Limited (SIL) is a wholly owned subsidiary of Standard Bank Group (SBG) Limited. SBG is listed on the JSE Securities Exchange of South Africa. SIL is incorporated and domiciled in South Africa. Its principal activity involves the provision of short-term insurance.

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TRACEY SCOTT

Moody’s Analytics Communications

+44.207.772.5207

Moody’s Analytics Media Relations

moodysanalytics.com

twitter.com/moodysanalytics

linkedin.com/company/moodysanalytics

KEYWORDS: Africa Europe South Africa United Kingdom

INDUSTRY KEYWORDS: Software Insurance Finance Banking Data Management Accounting Professional Services Technology

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Efma and Accenture Launch 6th Annual Innovation in Insurance Awards

Applications now being accepted for program recognizing the best innovations in insurance globally

PARIS–(BUSINESS WIRE)–
Efma and Accenture (NYSE: ACN) are now accepting applications for the sixth annual Efma-Accenture Innovation in Insurance Awards, which recognize insurers and insurtechs that are transforming the insurance industry.

Established in 2016, the awards celebrate the most innovative projects and ideas in insurance and provide a forum for organizations to share best practices. Last year’s awards received 360 entries from 240 insurance companies across 45 countries.

The categories for the Efma-Accenture Innovation in Insurance Awards 2021 are:

• Global Innovator (overall winner)
• Connected Insurance & Ecosystems
• Core Insurance Transformation
• Customer Experience
• Insurtech
• Product & Service Innovation
• Workforce Transformation

Companies can submit their entries online by April 2, 2021.

Each entry will be assessed using three criteria: originality; strategic capacity to generate long-term competitive edge and return on investment; and adaptability for use in other markets and countries.

Winners will be selected by a panel of judges of senior insurers and an online vote by Efma members and non-members from insurance institutions. The winners will be announced at a virtual awards ceremony on June 3.

“These awards continually highlight the most forward-thinking players in the industry,” said Jean-Marc Pailhol, Efma’s new chairman. “We have seen the pandemic accelerate industry trends that were already changing the industry, including increased digitization, new ecosystems and open insurance. Our awards program will show how insurers are improving, transforming or even reinventing their organization, offerings and business model to face the new reality in front of them. We are already excited to discover the innovative tools and initiatives they are implementing.”

Jean-François Gasc, a managing director at Accenture who leads its Insurance strategy industry group in Europe, said, “Leading insurers and insurtechs are developing innovative tools that are reimagining the traditional role insurance has played in peoples’ lives. The Efma-Accenture Innovation in Insurance awards aim to recognize those exciting players who are putting the customer at the heart of their business and innovating in the insurance industry, particularly at a time when digital services have never been so important.”

To find out more about the awards and how to submit an entry, visit innovationininsurance.efma.com or follow the conversation on Twitter at #InsAwards21.

About Efma

A global non-profit organization established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquartered in Paris.Offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing, Tokyo and Singapore. Learn more: www.efma.com

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

Accenture’s Insurance Practice helps P&C insurers, life carriers and reinsurers to redefine their business and operating models, enhance the digital experience for customers, and position themselves for growth in a digital economy. To learn more, visit: www.accenture.com/us-en/industries/insurance-index

Copyright © 2020 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

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Efma

Géraldine Mondet

+33 1 47 42 69 72

[email protected]

Accenture

Natalie de Freitas

+44 380 799 196

[email protected]

KEYWORDS: France Europe

INDUSTRY KEYWORDS: Professional Services Technology Other Technology Insurance Finance Consulting Banking

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Posted on December 10, 2020 2:59 am

S&P Global Platts to Assess Prices for Asia Recycled HDPE Film Pellets

New assessment offers more complete view and continues to drive transparency across HDPE value chain

PR Newswire

SINGAPORE, Dec. 10, 2020 /PRNewswire/ — S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, today announced the launch of a new daily recycled high density polyethylene (HDPE) film pellets spot price assessment, to meet growing demand for pricing information in the recycled plastic markets in Southeast Asia.

The introduction of this Free-On-Board (FOB) Southeast Asia assessment follows the launch of recycled polyethylene terephthalate (R-PET) clear flakes in Southeast Asia on July 1, 2020 and adds to existing virgin HDPE price assessments, offering a more complete view of the polyethylene value chain in the region. In addition, the introduction of R-HDPE price assessments in Asia complements the existing ones in Europe (post-consumer mixed bales, R-HDPE light pellets), offering market participants information across the two regions.

Ben Brooks, Head of Plastics Recycling Price Reporting, S&P Global Platts said, “The addition of this new daily recycled HDPE spot price assessment for Southeast Asia builds on Platts’ strong foundation of virgin polymer benchmark prices across Asia. In what has been a challenging year for recycled plastics in Southeast Asia due to the coronavirus pandemic, the increased transparency brought by this new spot price assessment will provide the industry with an independent view of market value, helping market participants navigate the emerging commodity market and make informed trading decisions.”

Shelley Kerr,
Global Head of Petrochemicals Market Pricing, S&P Global Platts, said, “This new assessment will help meet a growing need from market participants for high quality and transparent pricing information for a fast developing recycled plastics market in Asia. With increasing consumer demand for recycled plastics and more corporations moving towards green initiatives, demand for recycled plastics will likely pick up and may displace some virgin growth in the long term.”

HDPE is used in a range of consumer products including shampoo bottles and garbage bags. The new daily recycled HDPE film pellet FOB Southeast Asia assessment will be published in $/mt, and reflects cargo sizes of minimum 15 mt for loading 15-30 days’ forward from the date of publication from Port Klang in Malaysia, Bangkok in Thailand, Jakarta in Indonesia, Singapore, Batangas in the Philippines, and Cat Lai in Vietnam.

The new assessments will follow a Platts Market-On-Close (MOC) price assessment methodology, with the daily end-of-day price assessment reflecting values and activity observed in the open physical markets.

For additional details, consult this methodology and specifications guidelines page. https://www.spglobal.com/platts/en/our-methodology/methodology-specifications/petrochemicals/asia-pacific-petrochemicals-methodology

More petrochemicals information at: https://www.spglobal.com/platts/en/commodities/petrochemicals

S&P Global Platts has been covering petrochemicals markets for nearly 40 years and has an extended suite of aromatics and olefins and price assessments regionally and globally.

Media Contacts:

Americas

Kathleen Tanzy +1 917 331 4607, [email protected]