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Campaign group turns climate change spotlight on bondholders

first_imgKuhn is a ShareAction fellow and former head of pan-European fixed income at Aberdeen Asset Management.ShareAction called on signatories to the Principles for Responsible Investment and Climate Action 100+ – an investor initiative to put pressure on large corporate greenhouse gas emitters to drive the clean energy transition – to “engage and escalate” across all asset classes, not just equities.Asset owners should “not blindly rely on asset managers to undertake their fiduciary responsibility in this area” but should discuss with their fund managers a robust engagement and escalation strategy for high carbon issuers across all asset classes, including corporate bonds.More specifically, according to ShareAction, corporate bond investors should join forces as their engagement would only be effective in collaboration.To date, 310 investors with more than $32trn (€27.9trn) in assets under management, including major European asset owners, have committed to Climate Action 100+.Investors see challenges The research process entailed 22 in-depth interviews with asset managers, asset owners and other corporate bond market professionals, aimed at exploring their attitudes to engaging with issuers about climate change.A small number of those interviewed said they would stop investing in a company’s bonds if the issuer did not deliver on certain criteria, but the majority “saw only challenges”, said ShareAction.They had concerns about the legal implications of engaging jointly, the effectiveness of collaboration, and “publicity”. ShareAction called on regulators to act to reassure investors on legal risks.At the same time, investors acknowledged that the threat of selling an issuer’s bonds or refusing to refinance their debt could influence the companies.Bond managers cited a lack of clarity from asset owner clients on how to manage climate-related risks. The complexity of climate change and a lack of useful reported data were also highlighted as issues.ShareAction’s report comes as the UK’s Financial Reporting Council has proposed expanding the scope of stewardship to asset classes such as fixed income. Unveiling a draft new stewardship code for consultation, the regulator said asset owner and asset manager signatories should “explain their policy on bond engagement, including the extent to which they engage pre- and post-issuance of bonds”. According to Schroders, the world is currently on course for a long-run temperature rise of 3.9°C as of the end of 2018, down from a 4°C trajectory it calculated in the third quarter of 2018. The asset manager adjusted its expectations for the pace of global warming in response to higher carbon prices and increased political ambition to tackle climate change. Institutional bond investors are focused on mitigating portfolio-level climate risk but are uncomfortable committing to action aimed at limiting global warming itself, according to research carried out by ShareAction.Bond investors “balk at the suggestion they might use their ability to refuse to refinance company debt to press for stronger climate action”, stated a report from the campaign organisation.In its opinion, corporate bond investors should wield the power they have during debt refinancing and issuance to push issuers to align their business strategies with the internationally agreed global warming goal. This would involve telling issuers they would stop investing in their bonds if they did not meet their demands.Wolfgang Kuhn, author of the report, said: “Bond investors have come a long way very quickly on the sustainability dimension. What is left is to realise the power they have to create a positive impact and muster the courage to use it.”last_img read more

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Höegh LNG Finds Work for FSRU Höegh Esperanza

first_imgHöegh LNG has agreed terms for a three-year FSRU/LNGC contract for its recently delivered FSRU unit Höegh Esperanza, the company informed. The charter for the 170,000 cbm Höegh Esperanza, which was delivered in April this year, is expected to start in mid-2018.Following the delivery, Höegh Esperanza was vetted by oil majors for LNG trading and entered a spot charter under which it loaded its maiden cargo at Queensland Curtis LNG in Australia on May 21, 2018, Höegh LNG said.As explained, the contract will ensure a minimum annual utilization of the unit in FSRU mode with corresponding rates, while the balance of the year is in LNGC mode.In April, the company said it was in “advanced negotiations” for intermediate employment of Höegh Esperanza until the anticipated start date of its intended long-term FSRU contract in Chile.The new charter was revealed in Höegh LNG’s financial results for Q1 2018 which show that the company delivered higher profit year over year. In the three-month period ended March 31, 2018, profit rose to USD 13.2 million from USD 11.4 million reported in the corresponding quarter a year earlier.In addition, EBITDA stood at USD 38.1 million in Q1 2018, against USD 36.7 million seen in the first quarter of 2017.During the quarter, all seven FSRUs and two LNG carriers in Höegh LNG’s fleet operated in accordance with contracts and the group’s technical availability was 100%.Höegh LNG said that its main commercial focus is to secure long-term employment for the two uncommitted FSRUs under construction, which are due for delivery in December 2018 and May 2019, respectively.“Höegh LNG competes for the most attractive floating regasification projects currently in tender stage, and it is pursuing multiple chartering opportunities with the objective of putting contracts in place by the time of delivery of the newbuildings,” the company said.last_img read more

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Local institution launches alternative program to USE

first_img Sharing is caring! Share LocalNews Local institution launches alternative program to USE by: – June 14, 2012 Share Tweetcenter_img 17 Views   no discussions Share A local education and training centre has launched a program that will provide all children with an alternative program aimed at enhancing their numeracy and literacy skills. It is a transition program that seeks to meet the challenges of the Universal Secondary Education. Achievement Learning Center which was established in 2009 launched an Education Opportunity Program (EOP) in September 2011. The Education Opportunity Program (EOP), a Life Skills Based Education Program targets students who are at risk within the primary and secondary schools. The program will assist young people to develop self-efficacy; a belief in their own capacity to succeed, by providing opportunities to learn and practice these skills in real-life settings.Students will be exposed to learning experience that will help develop the competencies and prerequisite skills necessary to experience academic success and identify strategies to support responsible behaviour change. The program will:• provide intensive work in literacy and numeracy• Provide all children with an education program geared to meet their individual needs, and tap into their and potential• Develop learning experiences so that students can improve their lives and transform society.• Provide strategies to cope with problems that arise in groups• Identify critical skills for youth development• Appreciate the importance of life skills to a healthy and productive life.For more information about the program please contact the Centre at 4406992, 614 6117, 6132102 or visit them at #3 Elliot Avenue Pottersville.Press Releaselast_img read more

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Nani: I made Ronaldo a star

first_img Loading… Former Manchester United winger, Nani has joked that he taught Ronaldo all his tricks! The two were teammates for the Portuguese national side for many years, and at United when Nani joined in 2007/2008. While Ronaldo enjoyed a glittering career, Nani never hit the heights that his early potential suggested. Nani also had a lot of praise for former United teammates David De Gea and Paul Scholes.Advertisement When he was asked about Ronaldo, Nani only had good things to say. Read Also:‘Lionel Messi is more incredible than Cristiano Ronaldo’ He told reporters jokingly: “Cristiano Ronaldo with all these skills, the fast feet, he learned a lot from me in the youth. “He knows, he knows.” FacebookTwitterWhatsAppEmail分享 Promoted Content5 Of The World’s Most Unique Theme ParksThe Very Last Bitcoin Will Be Mined Around 2140. Read More10 Characters Who Would Make Astounding Disney PrincessesBirds Enjoy Living In A Gallery Space Created For Them7 Universities In The World Where Education Costs Too Much6 Ridiculous Health Myths That Are Actually TrueCouples Who Celebrated Their Union In A Unique, Unforgettable WayWho Is The Most Powerful Woman On Earth?Best Car Manufacturers In The World8 Things You Didn’t Know About CoffeeFantastic-Looking (and Probably Delicious) Bread ArtThis Guy Photoshopped Himself Into Celeb Pics And It’s Hystericallast_img read more

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VP’s brother announces congressional run

first_imgPhoto by Mike Wolanin, The Republic.Columbus, In. — The Republican party is asking voters to send another Pence to Washington D. C. Greg Pence, brother of Vice President Mike Pence announced his candidacy for congress in the 6th District of Indiana.Political pundits say Pence is a favorite because of his name recognition and ability to raise money.Greg Pence, who once ran the family’s Kiel Brothers Oil Company gas station and convenience store business, has been a close confidant to the Vice President. The business declared bankruptcy in 2004. In March of 2005 the Indianapolis Star reported the business owed more than $8 million to the Indiana Department of Environmental Management and more than $700,000 to the Indiana Department of Revenue. Six months after the filing then governor Mitch Daniels appointed Pence as the second in command of the Indiana Department of Environmental Management.He will battle Muncie businessman Jonathon Lamb and state Representative Mike Crider from Greenfield. Democrats in the race include Lane Siekman, Jim Pruett, Arturas Kerelis and Jeanine Lee Lake.Primary Election Day is May 8, 2018. The General Election will be held on November 6, 2018.last_img read more

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Martens dominates URSS feature at Stockton

first_imgJake Martens put on a dominant performance in winning Friday’s United Rebel Sprint Series 20-lapper at Stockton Speedway.STOCKTON, Kan. (Aug. 17) – Jake Martens put in a stellar performance as he won his third United Rebel Sprint Series feature of the season, dominating Friday’s 20-lap main event at Stockton Speedway.Jake Bubak jumped into the lead and led the first two laps until a caution flew. On the restart, Martens slid Bubak in turn one, taking the lead and never looking back.Martens stretched his lead each lap to win by 10 car lengths over Bubak, Zach Blurton came and Jordan Knight. Scott Cochran, making his first appearance of the year with the Rebels, completed the top five.Mark Walinder was the Keizer Wheels Hard Charger recipient, racing from his 17th starting position to finish seventh.Feature results – 1. Jake Martens; 2. Jake Bubak; 3. Zach Blurton; 4. Jordan Knight; 5. Scott Cochran; 6. Jed Werner; 7. Mark Walinder; 8. Brandy Jones; 9. Tyler Knight; 10. John Webster; 11. Ken Lutters; 12. Chad Salem; 13. Aaron Ploussard; 14. Shane Sundquist; 15. J.D. Johnson; 16. Ty Williams; 17. Buddy Tubbs; 18. Darren Berry.last_img read more

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Tigers Slay Knights

first_img House fire in Winter Harbor – October 27, 2014 admin State budget vs. job creation – January 22, 2015 Latest posts by admin (see all) Hancock County Court News Nov. 3 thorugh Dec. 11 – January 22, 2015 HARRINGTON — Righthanders Tashia Daley and Lona Sargent combined to pitch a one-hitter as the Tigers downed the Narraguagus Knights 12-0 in five innings Monday.Sargent doubled and singled twice, Katelyn Hodgkins doubled and singled and Morgan Whitten had a pair of singles for the Tigers. For more sports stories, pick up a copy of The Ellsworth American. Bio Latest Posts This is placeholder textThis is placeholder textlast_img read more

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Larson dropped from contract over racial slurs

first_img(REUTERS) – Kyle Larson was dropped by his team Chip Ganassi Racing yesterday, after the NASCAR driver used a racial slur during a livestream broadcast of an iRacing esports event.“After much consideration, Chip Ganassi Racing has determined that it will end its relationship with driver Kyle Larson,” the team said in a statement. “As we said before, the comments that Kyle made were both offensive and unacceptable especially given the values of our organisation.“As we continued to evaluate the situation with all the relevant parties, it became obvious that this was the only appropriate course of action to take.”Chip Ganassi Racing had said on Monday it was immediately suspending Larson without pay over the incident, which occurred during Sunday’s virtual race.NASCAR also suspended the driver indefinitely and ordered him to attend sensitivity training.Larson could be heard using the slur while he was apparently testing his microphone for the competition.last_img read more

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Ethan Happ withdraws from NBA draft, will play final season with Badgers

first_imgAfter an already illustrious career, Wisconsin Basketball star-forward Ethan Happ will play one final season with the Badgers. Happ announced his decision last night via Twitter with just six hours remaining before the withdrawal deadline for the 2018 NBA draft.Happ’s decision not to sign an agent prior to the draft allowed him the option to withdraw from consideration at any point before the May 31 deadline. While most did not think he would leave for the pros, Happ’s late withdrawal certainly left many Badger fans feeling anxious.The forward announced his intentions to declare for the NBA Draft following a season-ending loss to Michigan State in March. At the time, Happ was hoping to boost his stock with a potential NBA Combine invite that he ended up not receiving.Nigel Hayes discusses student athlete compensation, player boycottsNigel Hayes spoke at the “Future of College Sports: Reimagining Athlete Pay” panel The Aspen Institute hosted in Washington D.C. Tuesday. Here, Read…While Happ has undoubtedly been a stellar player for Wisconsin, many scouts feel his pro potential is questionable. The biggest knocks against him are his lack of a jump shot and poor lower body strength, both of which could hurt his ability to defend against more athletic NBA players.But Happ’s phenomenal footwork and attention to basketball fundamentals make his NBA prospect intriguing. If the rising senior can take a page from his predecessor Frank Kaminsky’s playbook and add a jump shot to his repertoire, Happ would almost certainly become a first-round pick and potentially a lottery selection to boot.For these reasons, Wisconsin will gladly welcome Happ back for his last year as the Badgers look to return to the NCAA Tournament.After a plethora of injuries, Wisconsin seems geared to compete with the Big Ten’s best next season. Last year’s starting point guard D’Mitrik Trice and freshman Kobe King will return after missing nearly all but the first 10 games of the 2017-18 season.A look back at this semester in sports: Performances, seasons, careers that defined spring 2018This semester is almost through — I know this because I saw the sun last week and haven’t been to Read…Additionally, star guard Brad Davison is expected to have recovered from a shoulder injury that hampered him for most of the 2017-18 season after undergoing surgery in March.With Happ rounding out the roster, and many of the younger players developing, this could be the best Wisconsin team we’ll see for a couple years as most of the team’s talent is focused in its second year players. Davison, Nate Reuvers and Aleem Ford highlight this class.Wisconsin and Happ will kickoff the season on Dec. 8 versus Marquette.last_img read more

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Students Welcome…Betsson AB opens third Academy Program

first_imgShare StumbleUpon Submit TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Stockholm-listed European sports betting operator Betsson AB has announced the launch of its third student training program ’The Betsson Academy 2017’ seeking to find fresh future talent for its operations.Launching its intensive ‘12-week internship program’ for 2017, Betsson AB management is seeking to fill 13 full-time future positions within its new Malta headquarters, which currently employs over 1,000 employees from 43 nationalities.The Betsson Academy will be held between July to September, offering students ‘real world insights’ of working within the global online gaming business. The selected students will work within all core components of Betsson operations.The Betsson HR team has begun to take-in student applications (closing date – 13 March), further informing that it will host its academy ‘assessment days’ from the 22-29 of March. Betsson AB will make the following internships available to applying students:Business Intelligence InternshipFrontend Developer InternshipData Service Desk InternshipQuality Assurance Internship – Data Operations TeamData Warehouse InternshipInternal IT InternshipQuality Assurance Internship – Sportsbook Development TeamSoftware Development Internship – Customer Service Tech TeamWeb Analytics InternshipCustomer Analytics InternshipBig Data InternshipSEO Content InternshipAffiliate Internship Related Articles Genesis to appeal UKGC’s ‘disproportionate suspension’ July 23, 2020 Share Ray Wilson, AMLGS: Industry deserves praise for its reaction to a new normal July 23, 2020last_img read more

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