Why ESG ‘misunderstanding’ is a barrier to adoption

first_imgInvestors are being discouraged from considering environmental, social and corporate governance (ESG) factors by a misunderstanding of what ESG means, according to the chief investment officer of one of the UK’s largest auto-enrolment pension schemes.Some of those involved in the debate were focusing on ethics rather than investment when discussing ESG issues, creating a barrier to adoption, said Nico Aspinall, chief investment officer at the People’s Pension.“A lot of people discussing ESG are still talking about ethics, not investment,” Aspinall said in an interview for a Pensions Policy Institute (PPI) report. Jargon was abundant, which was confusing those trying to get to grips with the issues, he added. “There are two worlds between institutional investment and [the] green lobby, and they risk speaking different languages,” the CIO said. “This is getting better, but there needs to be more bridge builders who can bring both groups together.”The institute’s report – written by its head of policy research Daniela Silcock – noted that there was confusion among trustees, independent governance committees, advisers and investment managers as to the purpose and definition of ESG.“Proponents generally agree that ESG is a confusing shorthand and does not necessarily reflect the philosophy behind the practice,” the report said.Another barrier to the consideration of ESG factors, according to the report, was the low level of involvement that pension scheme providers had with investment decisions.Almost all schemes invested in pooled funds or used third-party investment managers to make day-to-day investment decisions, but the extent to which ESG factors were taken into account varied between fund managers and it was difficult for trustees to distinguish between approaches, the report said.Many fund managers offered “ethical funds” to defined contribution (DC) scheme members, it added, but these would require people to make an active choice, generally at a higher cost than the default option.The importance of controlThe People’s Pension – a £5bn (€5.6bn) master trust scheme run by a not-for-profit organisation, B&CE – was moving towards taking more control of how it approached ESG, Aspinall said.Under its current approach, he said, the master trust did not have direct control of how investment managers voted and engaged on behalf of the pension scheme, “which means we compromise with other investors on issues and what actions to take”.“We want to do more here,” said the CIO.In another interview for the PPI report, Faith Ward, chief responsible investment officer at £30bn Brunel Pension Partnership, one of the UK’s new local government pension scheme asset pools, said advisers and managers were often “not fully informed about ESG, and they misadvise clients”.“Trustees and advisers need to be fully equipped to understand the relevance of potential ESG issues,” added Ward.The PPI report was sponsored by Redington. According to Lydia Fearn, head of DC and financial wellbeing at the investment consultancy, it did so because “it can sometimes feel that there are more questions than answers when it comes to ESG”.The PPI report can be found here.last_img read more

"Why ESG ‘misunderstanding’ is a barrier to adoption"

​AP funds blacklist cannabis companies on UN convention grounds

first_imgSweden’s four main national pension buffer funds – AP1, AP2, AP3 and AP4 – have ruled out investing in cannabis companies after a recommendation from their ethics committee.The AP Funds Ethics Council, the joint advisory body for the four main buffer funds backing Sweden’s state pension, recommended that the funds exclude cannabis companies from their investment universe.All four funds – which have combined assets of around SEK1.4trn (€137bn) – have accepted the advice, according to AP4.AP4 said: “The Ethics Council bases its analysis on the conventions that Sweden has ratified and whether companies in the AP funds’ holdings can be linked to conscious and systematic violations of those conventions. “The companies Aurora Cannabis, Canopy Growth and Aphria have all confirmed that they sell cannabis for private use and the Ethics Council therefore considers that the companies can be linked to violations of the UN convention on narcotic drugs.”Because of this, the council advised the funds to exclude these three companies, AP4 said, adding that it and the other three funds had followed this advice.Sweden has ratified UN conventions on drugs, one of which regulates narcotic drugs and limits their use to medical and scientific purposes.“The [conventions] today classify cannabis as one of the narcotic drugs that require the strongest control,” AP4 said.Trading in North American cannabis stocks has been particularly brisk over the past few months, with merger and acquisition activity in the sector making headlines.Canada’s move to legalise cannabis in October fuelled business hopes for the drug and related products.Cannabis, or marijuana, is now legal in several US states for recreational use, but still banned under federal law.US drinks giant Coca-Cola announced back in September that even though it had no interest in marijuana or cannabis, it was paying close attention to the growth of non-psychoactive CBD (cannabidiol) as an ingredient in “functional wellness beverages” around the world. “The space is evolving quickly,” it said, but added that no decisions had yet been made.last_img read more

"​AP funds blacklist cannabis companies on UN convention grounds"

OES sums up ocean energy efforts at ExCo meeting

first_imgOcean Energy Systems (OES) has shared the achievements in ocean energy sector during the Executive Committee (ExCo) meeting.The meeting was held last month in Monaco in the presence of HSH Prince Albert II of Monaco and 20 representatives from the organisation member states.Comprehensive overviews of international activities and achievements on ocean energy were shared during the ExCo meeting, including the inclusion of fact sheets on consenting processes for ocean energy on the OES website.Also, a world map with ocean thermal energy conversion (OTEC) demonstration projects has been prepared, and will be soon made available, according to OES.OES has announced the upcoming publishing of ‘Ocean Energy in Insular Conditions’ report. It will feature the results of the workshop looking at the opportunities and barriers to local adoption of ocean renewable energy in islands and remote coastal areas of the Asian region from the perspectives of various stakeholders and the possible solutions to address the challenges.Furthermore, OES said that the new workshop on numerical validation codes for wave energy will be organised during the European Wave and Tidal Energy Conference (EWTEC) in August this year.The meeting also provided an overview of the recent activities in OES member states, including the European Commission, China, France, USA and UK.OES, also known as the Technology Collaboration Program on Ocean Energy Systems is an intergovernmental collaboration between countries, operating under a framework established by the International Energy Agency in Paris.Its aim is to advance research, development and demonstration of conversion technologies to harness energy from all forms of ocean renewable resources.last_img read more

"OES sums up ocean energy efforts at ExCo meeting"

Delay in local league restart is frustrating footballers, says Lawal

first_imgFormer Super Eagles player, Garba Lawal, has said the delay in football restart in the country is already leading to frustration. Chindo told brila.net that the delay will in no little way turn to frustration to the footballers plying their trade in the domestic league. read also:Your Man Utd move not for funfair, Lawal tells IghaloAdvertisement “Though they train in groups or as a team, It will not change the fact that they are not into a normal competitive game. “It is not going to be good for the players but this is the situation we find ourselves,””We are waiting for the NFF and LMC to tell us if football is coming back any time soon so, Lawal said. FacebookTwitterWhatsAppEmail分享 Loading… center_img Promoted ContentEver Thought Of Sleeping Next To Celebs? This Guy Will Show You9 Facts You Should Know Before Getting A TattooEverything You Need To Know About Asteroid Armageddon7 Theories About The Death Of Our Universe6 Interesting Ways To Make Money With A DroneA Soviet Shot Put Thrower’s Record Hasn’t Been Beaten To This DayEvery Movie Starring Sylvester Stallone From Best To Worst10 Risky Jobs Some Women Do6 Ridiculous Health Myths That Are Actually True8 Superfoods For Growing Hair Back And Stimulating Its GrowthBest Car Manufacturers In The WorldCouples Who Celebrated Their Union In A Unique, Unforgettable Waylast_img read more

"Delay in local league restart is frustrating footballers, says Lawal"

Aguero could be out for two more months – Guardiola

first_img Read Also: Barca secure slim win over Elche to claim Joan Gamper Trophy Sterling’s big chance conversion rate was 42.2 per cent, with 19 missed and 14 scored, while Jesus scored from only 29.4 per cent of his most gilt-edged opportunities. The 23-year-old Jesus missed 24 big chances, netting only 10. Those are numbers that will have to improve considerably in Aguero’s absence if Guardiola’s City are to once again locate the relentless rhythm that brought them back-to-back Premier League titles and make a case for dethroning Liverpool. FacebookTwitterWhatsAppEmail分享 Promoted Content9 Facts You Should Know Before Getting A TattooWhich Country Is The Most Romantic In The World?Who Is The Most Powerful Woman On Earth?The Very Last Bitcoin Will Be Mined Around 2140. Read More7 Truly Incredible Facts About Black HolesCouples Who Celebrated Their Union In A Unique, Unforgettable Way7 Black Hole Facts That Will Change Your View Of The UniverseBest & Worst Celebrity Endorsed Games Ever MadeTop 7 Best Car Manufacturers Of All TimeThis Guy Photoshopped Himself Into Celeb Pics And It’s Hysterical6 Incredibly Strange Facts About HurricanesA Hurricane Can Be As Powerful As 10 Atomic Bombs Manchester City could be without star striker Sergio Aguero for the first two months of their Premier League campaign. Aguero missed the conclusion of last season, including City’s dispiriting 3-1 Champions League quarter-final defeat to Lyon, after suffering meniscus damage during June’s 5-0 win over Burnley. The 32-year-old Argentina international had to undergo surgery and was operated on in Barcelona by Dr Ramon Cugat, City manager Pep Guardiola’s preferred surgeon. Initially there had been hope Aguero could play a part in the latter stages of the 2019-20 Champions League and the player posted footage of himself dribbling a ball at City’s Etihad Campus training base to social media this week. But Guardiola looks set to be without the club’s all-time leading scorer for a considerable time beyond Monday’s trip to face a Wolves side who beat City twice last season. “We knew that the injury was difficult,” Guardiola said. “He is doing the [recovery], in maybe one month or two months he will be ready. “Two months, because he has to come back on the pitch and regain the physical condition. “Sergio was out for a long time and Sergio is not a guy who regains the physical condition quick, so I think in one month or two months he will be ready.” The time-frame outlined by Guardiola could mean Aguero misses City’s first three Champions League group games of the season, along with Liverpool’s visit to the Etihad Stadium on November 7. Opta focus – Sterling and Jesus must find clinical edge in Aguero’s absence Earlier in the transfer window, it appeared possible Guardiola would have Aguero’s international team-mate Lionel Messi to call upon. As it is, a considerable weight of the attacking burden at City will now fall upon Gabriel Jesus and Raheem Sterling. Loading… Sterling and Jesus enjoyed their most prolific seasons individually in 2019-20, scoring 31 and 23 goals respectively across all competitions. However, both missed glorious chances during the second half of that sapping defeat to Lyon, with Sterling’s particularly glaring as he blazed over a gaping goal from five yards. A look at how the Brazil and England forwards compare to Aguero in terms of their Premier League numbers does suggest City might be found wanting when it comes to having a clinical edge. Although Sterling outscored Aguero in the English top flight for the first time in his career last term – scoring 20 to his team-mate’s 16 – the former Atletico Madrid striker’s goals came at a rate of one every 91 minutes, compared to Sterling’s average of one every 133 minutes. Jesus’ 14 Premier League goals came in at one every 144.8 minutes. Aguero’s conversion rate of 21.05 per cent also stood above his team-mates, although Sterling ran him close on 20.2 per cent. Jesus netted from 13.86 per cent of his 101 shots, which amounted to more attempts than Sterling (99) and Aguero (76). However, the spectre of the Lyon game looms – as it does over much surrounding Guardiola and his squad for their forthcoming season – when considering Opta’s ‘big chances’ metric. Despite his well-earned reputation, Aguero was not infallible in such situations, converting 52 per cent of his big chances with 13 scored and 12 missed.last_img read more

"Aguero could be out for two more months – Guardiola"

McIlroy happy with Korea display

first_img However, the former world number one bounced back to score five birdies in the next 10 holes. Giving his reflections, McIlroy told oneasia.asia: “Pretty good so far. “There was a few sloppy shots, or sloppily played holes. I made the bogeys on the back nine (his first nine) which wasn’t great but most of the other stuff was actually pretty solid. I hit some good shots and made some good birdies so it was good. “I’m driving the ball very well and for the most part my iron play is pretty good, but I definitely missed a few opportunities out there. I definitely could have been a few shots better, but I’m in a good position going into the weekend and that’s all you can ask for. “After that stretch (of bogeys) today on the back nine I turned it around and played the last 10 holes in four under, so it was a pretty good effort. I was a little disappointed to bogey the last there, but it was good for the most part.” Asked about his strategy for day three, the 24-year-old added: “Just to keep playing the way I am, stay patient. I don’t need to go out there and be overly aggressive, but I just want to get myself into a good position for Sunday if possible.” The four players ahead of McIlroy are all South Korean, with Hong Soon-sang carding a bogey-free three-under-par 68 to top the leaderboard. He is on five under overall, one stroke ahead of compatriots Kang Sung-hoon, Kim Hyung-tae and Hwang In-choon, while tied fifth with McIlroy are two more home favourites – Yu Gyoung-yoon and first-round leader Jang Ik-jae. Press Association Rory McIlroy summed up his comeback performance as “pretty good so far” after the second round of the Kolon Korea Open finished with the Northern Irishman two shots off the lead.center_img The world number six, who is playing his first tournament after a month-long break, is in a tie for fifth on three under par having shot a two-under 69 on day two at the Woo Jeong Hills Country Club course near Cheonan that could have been even better had he not bogeyed on the ninth, his last. McIlroy had a topsy-turvy opening nine, with two birdies and a bogey coming in his first four holes and him then dropping a shot on three holes in a row from 14 to 16. last_img read more

"McIlroy happy with Korea display"

Riders on Disney World’s New Skyliner Gondola System Stranded After Incident

first_imgPhotos posted on the Twitter page “Waltparks” showed several of the gondolas smashed together. The Skyliner system, which began operation last week, includes nearly 300 cabins that travel at about 11 mph. They reach up to about 60 feet above ground. Riders were evacuated after 11 p.m.The cabins, which can each hold up to 10 people, are not air-conditioned. Riders aboard the new Skyliner gondola ride at Walt Disney World ended up being stranded for several hours late Saturday night after an apparent malfunction, according to witnesses.A Walt Disney World spokeswoman adds there were no reported injuries.The company says the system will remain closed while the incident is being investigated.A news release explains, “One of the three Disney Skyliner routes experienced an unexpected downtime Saturday evening. As a result, the Skyliner will be closed while we look into the details surrounding the downtime.” The company is working with its guests individually “regarding impacts to their visit with us.”center_img Social media posts also show that riders were asked to open the emergency kits following the incident.Skyliner connects Epcot and Disney’s Hollywood Studios with four of the Disney World resorts. Its capsules, which are themed with Disney characters, travel along a cable.Disney World Debuts Skyliner Gondolas The gondolas have officially crashed! Guest are being evacuated now. Guest have been stuck for hours! No word if guest were in the gondolas that crashed. pic.twitter.com/5uUyMFW7an— Waltparks (@Waltspark) October 6, 2019last_img read more

"Riders on Disney World’s New Skyliner Gondola System Stranded After Incident"

2016 Indigenous Heritage Sports : Mabaruma upset Tabatinga in football final

first_imgTHE curtain came down Sunday evening on the 2016 edition of the Indigenous Heritage Sports with Mabaruma pulling off the upset of the evening when they warded off the Tabatinga side 6-2 in the male football finalUnder lights at the Everest ground, the match seemed to be equally poised for the taking during the earlier minutes with both sides scoring to leave things at 2-2 midway the first quarter. However, when the half ended, it was Mabaruma in front. They returned to the field full of life and despite suffering a red card, the Region One side managed to score two more goals on their way to victory.Mabaruma score one of the goals in their 6-2 win over Tabatinga. Mabaruma score one of the goals in their 6-2 win over Tabatinga.The Most Valuable Player for the male Final was Eon Knights.Meanwhile, on the female side, Football Paruima defeated Moruca region 5-1 thanks to the MVP Evadney ThomasIn Archery, Sean Duncan (57 points) beat off Anand Mangar (54 points) for the top spot in the male division leaving Erick Hing (30 points) third.On the distaff end, Samira Duncan (27 points) successfully defeated Shearlyn Duncan (20 points) and Narda Mohamed (18 points) for that class while Aliya Gordon (11 points), outshone Shamara Duncan (7 points) and Darville Daniels.Orealla/Siparuta took the male volleyball title 15-11/15-7 over the first-place runners-up Mainstay, while Moruca had a tougher task in beating St Cuthbert’s 15-8/15-13 on the female end of things.In softball cricket action, St Cuthbert’s emerged winners over their Region Four counterparts Laluni while in the male tapeball division Region 2 United edged Mahdia by 5 runs.The three-day event was held under the theme: ‘Our Culture, Earth’s Future – Save the Environment, Live the Indigenous Way’.last_img read more

"2016 Indigenous Heritage Sports : Mabaruma upset Tabatinga in football final"

Trophy Stall to kick start EBFA 2020 Season with U-13 League sponsorship

first_imgMANAGING Director of The Trophy Stall, Ramesh Sunich, yesterday confirmed his company’s commitment towards sponsorship of the East Bank Football Association (EBFA) Under-13 League.At a simple presentation ceremony held at Trophy Stall’s Bourda Market location, Sunich made the presentation of trophies to EBFA president, Kevin Anthony, in the presence of executive members.Sunich, in remarks, said that he was happy to be approached by former EBFA president, Franklin Wilson, to sponsor the Under-13 League and based on a long-standing relationship, did not hesitate to support the continued development of the sport through the youths.“I have been doing this for many years now on the East Bank and other areas and, therefore, when Frankie approached to renew and continue this partnership, I could not, not agree [sic]. As the immediate past president of the EBFA, Frankie has done a fantastic job leading and I was glad that he approached me to support as he would love to see the youths there continue to grow and develop to the highest possible level.”Sunich informed that the top four clubs would all receive attractive trophies while the top three would be presented with gold, silver and bronze medals. He stated that new medals designed exclusively by Trophy Stall would be unveiled.Anthony, responding on behalf of the Association, expressed gratitude to Sunich and Trophy Stall for continuing to partner with the EBFA towards the development of young players.“Your commitment shows that you are truly committed to the development of young people in Guyana and whilst it is the EBFA that is enjoying this sponsorship, I am aware that other youths have been enjoying your support, not only in football but other sports also.”The Trophy Stall / EBFA U-13 League is scheduled to kick off early next month and would see nine (9) clubs contesting, namely Agricola Red Triangle, Friendship All Stars, Grove Hi Tech, Swan FC, Timehri Panthers Sports Club, Soesdyke Falcons, Diamond United, Samatta Point/Kaneville and Mocha Champs.The defending champions, Timehri Panthers, which won the previous league that was sponsored by Juicy Juice, will open the league when they come up against Agricola Red Triangle which they had gotten past by the lone goal of the virtual final to win the previous league. Timehri ended the league two points ahead of Agricola which closed out on 23 points.last_img read more

"Trophy Stall to kick start EBFA 2020 Season with U-13 League sponsorship"

Russia to Appeal against Weightlifting Ban

first_imgRIO OLYMPICS SPECIALThe Russian weightlifting federation will appeal against the ban imposed on its team for the Rio Olympics.Individual sport federations must rule on whether Russians can compete in Rio following the country’s doping scandal. The International Weightlifting Federation excluded the eight Russians entered for Rio last week after a report into state-sponsored doping.The appeal will go to the Court of Arbitration for Sport before the Games, which start on 5 August.Two of the eight-strong weightlifting team had already been banned for prior doping violations, and another four were named in Dr Richard McLaren’s report into the issue.The World Anti-Doping Agency had recommended all Russian athletes be excluded from Rio 2016, but weightlifting and athletics are the only sports to have imposed a blanket ban on competitors from the country.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

"Russia to Appeal against Weightlifting Ban"