ESG roundup: Beware a ‘diesel moment’ for chemical sector

first_imgRegulatory pressure has been increasing for the world’s economy to become more “circular”, meaning that plastics and other materials no longer become waste but are re-incorporated into the system as a resource. Investors should be alert to the possibility of the chemical sector facing a regulatory clampdown due to its links to plastic packaging that ends up as waste, CDP has suggested.“Just as carmakers faced a regulatory backlash when the consequences of diesel on air pollution became clear, chemical companies could face a similar ‘diesel moment’ because of their links to plastic packaging,” the research provider said upon releasing a report on the chemical sector, ‘Catalyst for Change’.Some 8m tonnes of plastics end up in the oceans every year, and it is estimated that there will be one tonne of plastic for every three tonnes of fish by 2025.“Plastic packaging, which accounts for 26% of the total volume of plastics used, has come under increasing scrutiny as it clogs up our urban infrastructure and pollutes our oceans and seas,” said CDP. Credit: National Oceanic and Atmospheric Administration, Ben MierementThere is interest in the circular economy, in particular at the level of the European Union.Plastics consume the majority of petrochemical products, using 6% of global oil consumption a year, according to CDP. MEPs urge fossil fuel divestmentA resolution passed by the European Parliament on Wednesday states that pension funds should commit to divesting from fossil fuels. The relevant passage of the resolution, which was adopted by a show of hands, states that the European Parliament: ”Calls on governments and public and private financial institutions, including banks, pension funds and insurance firms, to make an ambitious commitment to aligning lending and investment practices with the global average temperature target of well below 2°C, in line with Article 2(1)(c) of the Paris Agreement, and divesting from fossil fuels, including by phasing out export credits for fossil fuel investments; calls for specific public guarantees to promote green investment and labels and offer fiscal advantages for green investment funds and the issuing of green bonds.”Finnish first for IIGCCElo Mutual Pension Insurance Company has become the first Finnish member of the Institutional Investors Group on Climate Change (IIGCC).Hanna Hiidenpalo, Elo’s chief investment officer, said: “We recognise the importance of international collaboration with other investors and are proud to become the first Finnish investor to formally recognise the importance of IIGCC’s work.”Kirsi Keskitalo, the pension investor’s responsible investing specialist, added: “We look forward to supporting IIGCC’s efforts going forward, particularly their dialogues with policy makers and their growing programme of collaborative investor engagement to drive corporate climate action to strengthen governance, business strategy and disclosure.” Elo has €21.8bn of assets under management, according to IPE’s Top 1000 Pension Funds survey.NILGOSC voting activityThe Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC) has published figures about its shareholding voting activity. It said that during the 12 months to 30 June it cast a total of 8,143 votes, including 30.6% against management recommendation. It voted at meetings held by companies listed in various countries, voting in 30 jurisdictions in total. ‘Out of whack’ CEO payPay taken home by chief executive officers at US listed companies is just as out of line with long-term shareholder returns as awarded pay, according to MSCI.Awarded pay sets out the range of their potential earnings, while realised pay is how much the CEOs actually pocket after exercising equity grants.MSCI said it found that realised pay was just as poorly aligned with long-term performance as awarded pay.“More than 61% of the companies we studied exhibited poor alignment relative to their peers,” it said.It found little correlation overall between realised pay and long-term investment returns. ”These findings suggest that the 40-year-old approach of using equity compensation to align the interests of CEOs with shareholders may be broken,” said MSCI.Ethical funds: Not what they say on the tin?Vanguard, Aberdeen and Friends Life offer funds with holdings that are at odds with the funds being billed as sustainable, according to a review of UK ethical and environmental funds by financial adviser Castlefield.It categorised them as “spinners”, potentially misleading negatively screened funds with some investments in companies contributing to environmental and social problems.At Vanguard, Castlefield took issue with its SRI European Stock Fund because it featured British American Tobacco and Royal Dutch Shell in its top 10 holdings. In the case of the Aberdeen Ethical World Fund, it felt the inclusion of EOG Resources – a US crude oil and natural gas company that uses flaring and has faced accusations of illegally burying waste – was at odds with the fund’s ethical label.The adviser also felt the Friends Life Stewardship Fund’s holdings in mining companies Rio Tinto and BHP Billiton were misaligned with the fund’s investment remit. The Friends Life business is run by Aviva. Management of the Stewardship fund range has been outsourced to Schroder Investment Management.The WHEB Sustainability Fund, Liontrust UK Ethical Fund and Rathbone Ethical Bond Fund were Castlefield’s “winners”. The adviser saw them as organisations “demonstrating transparency whilst making a significant contribution towards the growth of the responsible investment market”.The adviser is calling on the UK’s Financial Conduct Authority to change marketing rules to stop “greenwashing”. Its report, which relays comments from some of the managers, will be publicly available on its website from Monday.last_img read more

Church of England investment arm names new chief executive

first_imgThe Church Commissioners, the Church of England’s investment arm with an £8.2bn (€9.4bn) portfolio, have nominated Gareth Mostyn as their new chief executive, starting on 1 February 2020.Mostyn is currently chief finance and operations officer (CFOO) for the National Church Institutions of the Church of England, which encompass the Church Commissioners, Church of England Pensions Board and Archbishops’ Council.In his new role, he will also become secretary to the Church Commissioners, reporting to the First Church Estates Commissioner and the board of governors.  He will support the Commissioners in strategic policy and prioritisation, and take responsibility for strategic leadership of the investments team, among other roles.His tenure of office, which is subject to approval by the Church Commissioners at an extraordinary general meeting to be held in November, will follow the retirement of current CEO Andrew Brown at the end of January 2020. Mostyn joined the National Church Institutions in 2018 from diamond company De Beers plc, where he was the board director responsible for strategy and corporate affairs, before which he was chief financial officer. Gareth Mostyn has been proposed as the Church Commissioners’ new CEOLoretta Minghella, first Church estates commissioner, said: “Since his arrival as CFOO, [Mostyn] has demonstrated a clear-eyed commitment to delivering sustainable financial support to the Church over the long term to help the Church meet its mission priorities.”Minghella continued: “He has a thorough understanding of the oversight required for an endowment of our size and significance, a solid grasp of our requirements as a leader in responsible and ethical investment and a real appreciation of the broader role the Commissioners play in support of the Church’s work.”Mostyn has also held senior finance roles with Anglo American and The BOC Group (latterly The Linde Group).The Church Commissioners made an investment return of 1.8% for the 2018 calendar year, although the average return over the past 30 years is 8.9%, above the Commissioners’ 8.2% target.The Commissioners promote socially responsible investment and engagement with investee companies, and in 2018 voted against or withheld votes on 15.6% of resolutions presented at company meetings, most commonly on executive remuneration.last_img read more

Concerns raised over habouring Dominican children

first_img Share LocalNews Concerns raised over habouring Dominican children by: – June 28, 2011 Sharing is caring! Share Tweetcenter_img Share Photo credit; arvaghgfc.comA Dominican magistrate has raised concerns over the harboring of Dominican children.Magistrate Gloria Augustus told a Pichlein village council meeting on Sunday that the law makes provisions for people to be penalized if they are responsible for juveniles not being at school.“For those who encourage other people’s children to come and stay at their homes. Young people run away and go and stay by friends, boyfriends…this has been happening. If your boy or your girl brings someone here, try and find out why they are at your home. If they come in late, give them sleep and then take them to the authorities for help…do not harbor them at your home,” she said. She said the legal system is being too lenient on such matters.“We are going to get very tight on that. There are people harboring children at their home even on school days,” she said.Dominica Vibes News 18 Views   no discussionslast_img read more

Loss of spiritual values blamed for crime surge in Dominica

first_img 20 Views   no discussions Share LocalNews Loss of spiritual values blamed for crime surge in Dominica by: – June 27, 2012 Sharing is caring! Tweetcenter_img Share Share The loss of spiritual values and the worship of money and material possessions could be contributing factors for the surge of violent crime in Dominican communities.Richard Charles a resident of Marigot made that observation at a cabinet organized forum on crime and violence in Marigot earlier this week.He said the values that existed before have been lost.“The values that we learnt from the good book the bible, we have lost that. Some of us have set ourselves for the dollar and material things and these are the areas that we are gravitating towards”.Charles says these behaviours have caused many people to lose their moral integrity.“We lose all principle and we just go out to “bling” or to get certain things no matter what the cost. Whether we prostitute ourselves or we kill our neighbour’s child with drugs or whatever we do once we make the dollar that is what is important to some of us”.Mr Charles is also laying blame to irresponsible behaviours of some adults within the society.“Some adults in society always beat up on the young people but the youth can only relate to what they see. When a child misbehaves in school and it’s brought to the parents’ attention, sometimes the way the parents respond is questionable, there are some parents who go to the school to fight with teachers and students”.Charles is suggesting that parents carefully examine the manner in which they respond to conflicts with their children as negative behaviours will eventually filter down to the child.“When the parents make certain comments at home the child is hearing. Children are very smart and they are hearing what is going on and are very observant. We as adults fail to realize that the children are learning from us the good and the bad.”Our behavior in society now is to bring down people, beat up on people there is no love….Charles added.Over the past few months the Government of Dominica has embarked on a number of forums geared at getting to the root of the cause of crime in Dominica with the hope of identifying ways in which criminal activities could be minimized.Government Information Servicelast_img read more

Juventus 2020-21 kit leaked

first_imgThere are reports the 2020-21 Juventus kit will bring back the black and white stripes – albeit only three of them – with gold lettering and inserts. The shirt is therefore primarily white, but with strong gold inserts on the club logo, shoulders, shorts and socks, reminiscent of Real Madrid kits. The Juventus away kit is expected to be a deep indigo blue with white sleeve cap and shoulder inserts. read also:Juventus swap deals for Pogba Their third strip is bright orange with a black blotch pattern across the shirt, details and logo in white. FacebookTwitterWhatsAppEmail分享 The alleged Adidas kit was leaked by La Maglia Bianconera and appeared on TGcom, scrapping the controversial two-tone black and white form of the current campaign. It brings back the stripes, but only three choppy black streaks down the front, trailing off at the end like strokes of paint.Advertisement Loading… Promoted Content9 Facts You Should Know Before Getting A Tattoo13 kids at weddings who just don’t give a hootWhy Do So Many Digital Assistants Have Feminine Names & Voices?5 Of The World’s Most Unique Theme ParksInsane 3D Spraying Skills Turn In Incredible Street ArtMesmerizing Pictures Of World’s Most Beautiful Staircases8 Superfoods For Growing Hair Back And Stimulating Its GrowthThe Very Last Bitcoin Will Be Mined Around 2140. Read More11 Most Immersive Game To Play On Your Table TopCouples Who Celebrated Their Union In A Unique, Unforgettable Way5 Of The World’s Most Unique Theme Parks14 Hilarious Comics Made By Women You Need To Follow Right Nowlast_img read more

2020 IMCA point season ends Sunday, Sept. 27

first_imgQuestions about IMCA point totals and standings should be directed to Virginia Lindsey, director of membership and points, at vlindsey@imca.com or by calling 319 472-2201, ext. 215. Local track officials have until noon Central Standard Time on Monday, Oct. 26 to notify IMCA of corrections that affect their top 15 point stand­ings before all standings for those divisions become official. Final points races will be held that day for sanctioned Modifieds, Late Models, Sprint Cars, Stock Cars, Hobby Stocks, Northern SportMods, Southern SportMods and Sport Com­pacts. Bonus points will be figured and national and regional champi­ons and rook­ies of the year announced as soon as possi­ble.  VINTON, Iowa – The 2020 IMCA Speedway Motors Weekly Racing point season ends this Sun­day, Sept. 27. last_img read more

Committee formed to manage Linden’s Agnes Blair basketball court

first_imgA NEW body was elected to run the affairs of the newly renamed Agnes Blair Basketball Court located in Amelia’s Ward.Former Linden Amateur Basketball Association (LABA) administrator Robert Archer is the president with Allister Webster as vice-president.Cheryl Waithe is secretary, Kevin Joseph treasurer, Numez Browne assistant secretary/treasurer and committee members are Shawn Kitt, Shauna Chester and Wilfred Younge.President Archer said that the decision to rename the court after senior resident Mrs Agnes Blair was mainly because the member of the Amelia’s Ward community was instrumental in obtaining that piece of land for the construction of the basketball court in the 1990s and as such they agreed that it be renamed in honour of her efforts to procure a recreational facility.Several members of the committee are past or present players of the Amelia’s Ward Jets basketball club.The Brusches Basketball Foundation and Byron Freso have donated a pair of new backboards and two stanchions for the court.He said that soon they will engage the relevant authority to finalise this decision by the residents in that community and seek to improve on the regulations concerning use of the court and how it will be managed.last_img read more

Victory for Cloughjordan’s Hogan in Sligo

first_imgTurning to today’s racing action and there’s a 7 race card in Killarney where their four day August festivan gets underway. The first goes to post at 20 past 5….There’s plenty of Tipperary interest on the card, including in the Easy Clean Handicap, which is off at 7.50pm. Last time out winners Boherbuoy, trained in Tipperary by David Wachman, the Aidan O’Brien-trained colt Jinsha Lake and Vale Do Sol for the Meath stable of Ger Lyons all have chances. Drive The Bus landed the concluding race, the Radisson Blu Hotel Sligo Supporting Sligo GAA Handicap Hurdle. Hogan also rode the horse to victory.Whiskey Galore was back in second at 10-1, Mon Carlos in third at 14-1.last_img read more

BHA states schedule 5 ruling is “there for good reason” amid backlash from racing community

first_img UK Racing pushes for drastic levy reforms as deep recession looms August 25, 2020 Share StumbleUpon Racing DiRSG launches LGBT+ awareness module for PRIDE  June 25, 2020 Share Submit Unibet backs #GoRacingGreen as lead racing charity  July 28, 2020 Related Articles The British Horseracing Association (BHA) has defended its decision to fine trainer Henry Oliver, citing that the schedule five ruling which discourages trainers and representatives from encouraging horses to start, “is there for good reason”. Schedule five on starting procedures explicitly states that no trainer nor representative is allowed to initiate the start of a race without the permission of the starter, and under no circumstances will the trainer or representative be allowed to encourage their horse physically, verbally or using any other means to leave the stalls or jump off in a race.The racing body has received backlash over the £140 penalty from Sir Anthony McCoy and Nicky Henderson, following its decision to sanction the acclaimed trainer at Uttoxeter this weekend. Oliver was found guilty of misconduct by the BHA for having “encouraged BURRENBRIDGE HOTEL (IRE), which had been reluctant to line up, by waving his arms behind the gelding”, as revealed in the stewards’ report.The BHA statement justifying the ruling triggered the backlash from the jockey and trainer. It stated: “Trainers are not permitted to encourage their horses to start, and that rule is there for good reason. We set a lot of store in our sport behind the fact that we do not force horses to race and they do so on their own free will. “Moreover, in the interests of a fair, even start, individual horses should not have the attentions of a trainer or representative to get them on their way. For these reasons only the jockeys and starters are permitted to effect or influence the start. “Once the rule has been breached then a penalty will follow, otherwise the rule is not enforceable. However, we have an appeal system and Mr Oliver is able to appeal his penalty should he wish.”Oliver, who is yet to decide whether he will challenge the penalty, argued that horses racing on The Flats are effectively encouraged into racing. He told The Racing Post: “I haven’t really thought about whether to appeal – £140 isn’t going to make a lot of difference to my life but it just seems a bit petty really.“I don’t think it helps racing’s cause by making attention out of things like this, rather than having a quiet word and giving me a warning.“The starters were fantastic and I told the stewards that I wouldn’t have got in their way as that’s their job.“It’s quite frustrating as everyone puts so many hours into their horses to get them to the races. Everyone is trying to do the best by their horses.”McCoy expressed his annoyance towards the ruling, tweeting: “And for such stupidity I’m going to block @BHAStewards in case I end up reading again such embarrassing rubbish. How can our sport have such appalling decision makers in charge?”Henderson, meanwhile, emphasised that horses that race on the Flat are actively encouraged to race, by being placed in the stalls by stall handlers. He said: “If they are talking about giving horses free will about starting then what about at the stalls on the Flat, when ten burly and brilliant men shove, heave and lift horses into the stalls when the horse says no?“The BHA is baffling at the moment, coming out with more and more bizarre instructions. I despair.“First there was the instruction on wearing hind shoes, which should be left to the trainer to decide what is best for the horse.“How are punters going to feel about horses being allowed to decide whether to start or not?”The horse, owned by Henderson, had positioned itself close to the fence when approaching the beginning of the 2m4f handicap chase. An inquiry has since been held, where Henderson had been interviewed and shown the recording of the incident. He commented: “Burrenbridge Hotel has been here a while and probably needs a change of scenery. The Skelton horse who won the novice hurdle wouldn’t walk out the paddock so they were waving their arms at that too.“Our horse planted near the start so I went down there to tell Sam [Twiston-Davies] to get off him and the horse will go forward as that’s how he is at home.“I hadn’t asked for permission but with the race times pushed back our horse had planted with the delay, so I was just trying to give him every chance of running his race.“As we were away from the start I raised my arms to get him away from the fence, where he had stopped, and when the starters got behind him I stayed away.“As far as I’m concerned I was a furlong away from the start. I understand they don’t want people doing that, which is fine, but I was just trying to give my horse every chance of running his race.”last_img read more

LiveScore enhances content offering with Sportal365 deal

first_img CMS platform provider Sportal365 has secured a new partnership with LiveScore which will see the two collaborate on boosting brand engagement across their global audience.As part of the agreement, LiveScore has agreed to integrate Sportal365’s sports content management system which will ‘enrich LiveScore’s editorial content’.Stilian Shishkov, CEO and Founder of Sportal365, said: “We are thrilled that LiveScore have chosen Sportal365 to deliver our industry leading sports content management system. LiveScore are the world’s leading sports updates provider, having built a much-loved brand which caters for millions of sports fans in an incredibly challenging space.“We are excited now to help facilitate the production of truly immersive content, allowing LiveScore’s editorial teams to take full advantage of our platform’s capabilities.”Earlier this month, LiveScore confirmed that all remaining matches in Italy’s Serie A season will be broadcast to UK fans after securing live streaming rights after launching its first streaming service.Ric Leask, Marketing Director at LiveScore, added:“We are delighted to announce our new partnership with Sportal365, who are leading specialists in sports editorial content management systems.“In using Sportal365’s data-driven content publishing platform, we can enhance the experience for millions of LiveScore users, building our sports audiences by delivering premium content and engaging products. Our partnership with Sportal365 will accelerate this ambition and ensure LiveScore remains the go-to sports updates destination for fans around the globe.” StumbleUpon Related Articles LiveScore adds new leagues to streaming offering August 12, 2020 Share Share LiveScore celebrates streaming service launch with Serie A partnership June 17, 2020 Dugout upgrades content outreach capacity with Sportal365 June 9, 2020 Submitlast_img read more