Switzerland’s largest public pension fund divests from coal

first_imgPublica, Switzerland’s largest public pension fund, has divested its equity holdings in coal companies because of the financial risks posed by their vulnerability to public policy measures to combat climate change.The €34bn pension fund is a “Sammelstiftung”, an independent collective institution that manages the assets of 20 Swiss public pension schemes, seven of which are closed to new entrants.Stefan Beiner, head of asset management at Publica, told IPE the pension fund has sold the totality of its equity stakes in coal companies, worth around CHF10m (€9.2m) at the time, on the back of a decision taken early this year in the context of its annual risk-management review process.“Once a year, we look at risks that are difficult to quantify, which tend to be ESG risks, and last year we prioritised climate change,” he said. The next step was for the pension fund to investigate this risk in three sectors – coal, gas and oil.It did this first by assessing the likelihood of operating conditions changing in the form of a carbon tax, and in a second step by analysing the extent to which the companies in a given sector could adapt.It concluded that, sooner or later, there will be a carbon tax, or any such tax already in effect will be increased.“We don’t know when or by how much, but the probability is high that there will be one,” said Beiner.It decided that oil and gas companies were “relatively broadly diversified and capable of adapting” but that this was not the case in the coal sector.“The companies tend to be very focused, namely on coal extraction, and our view is that they will struggle if carbon taxes are increased,” said Beiner.In a final step, the pension fund considered whether coal companies’ carbon risk was adequately priced in, and decided it was not.“When it comes to coal companies, we don’t think the financial risks are compensated,” said Beiner. “The risks for oil and gas companies are manageable.”A coal company, for the purposes of Publica’s exclusion policy, is defined as such based on the classification applied by MSCI for its GICS coal and consumable fuels sub-industry index.Some 10 companies, mainly from emerging markets, were affected by Publica’s policy.Asked about the roll-out of the policy to other asset classes, Beiner noted that the universe of effected companies was very small and that Publica did not own any bonds issued by them, so the question did not arise.The exclusion of coal is hard-wired into Publica’s compliance system, he added, meaning that the entry into its universe of any company meeting the exclusion criterion is immediately flagged.   For the time being, the decision to exclude investments in coal is borne as an active risk by Publica, although, in the medium term, the pension fund intends to adjust its customised benchmark to reflect its new policy on coal.Publica is thought to be the first major Swiss pension fund to divest on climate change-related grounds, although local government schemes are coming under pressure to do so, too.The municipal council of Carouge, a town in the canton of Geneva, for example, has recently unanimously voted in favour of divesting from fossil fuels, according to Swiss news service Le Courrier. The motion was put forward by Green party officials, emulating a move made by their counterparts at the city and canton of Geneva, according to the media report.last_img read more

Ministry of Health undertakes three day workshop to improve care for older persons.

first_img Tweet Share Dr. Martin Christmas. Photo credit: GIS NewsOfficials in the ministry of health are said to be placing emphasis on improving the care for older persons in Dominica.A three day workshop hosted by the Pan American Health Organization (PAHO) and the Ministry of Health is currently being held at the Fort Young Hotel, geared at improving the health of older persons in Dominica.Director of Health Care Services Dr. Martin Christmas said the Ministry of Health and the Primary Health Care System seeks to improve the kind of care that is given to the elderly persons. “This calls for much organized planning and this is the reason why we are in the process of reviewing and preparing our policy on healthy aging, a document which in its first form was actually spearheaded by the Dominica Council on Aging,” Christmas said.Meantime Permanent Secretary in the Ministry of Health Ruth Allport said an aging world population is posing challenges for the population.“The Ministry of Health acknowledges the increase in the number of senior citizens in the world today. While the demographic phenomenon stands out as a unique achievement of modern civilization, it poses some complex challenges and opportunities for the future well being of countries such as ours,” she said.Dominica Vibes News Share Sharing is caring!center_img 14 Views   no discussions Share LocalNews Ministry of Health undertakes three day workshop to improve care for older persons. by: – September 13, 2011last_img read more

January 13, 2019 Police Blotter

first_imgJanuary 13, 2019 Police Blotter011319 Decatur County EMS Report011319 Decatur County Fire Report011319 Decatur County Law Report011319 Decatur County Jail Report011319 Batesville Police Blotterlast_img

Cardiff land young Norway star

first_img Solskjaer said: “I am pleased to announce we have signed Mats from Molde, we had some competition and I’m glad to say he has chosen to come to Cardiff instead of going back to where he was before. “He had talks with United, they had the option to bring him back as part of the deal with Molde but he has decided to come here and that shows his desire to do well here.” Solskjaer believes Daehli can become one of the best midfielders in the Premier League, and revealed he had been a target for his predecessor Malky Mackay. “He is an outstanding talent. He wil be 19 in March, he has just made his debut for Norway so he will give us energy, enthusiasm and good ball control,” he said. “I don’t want to liken him to too many players and put pressure on him but he is a central midfielder, he likes to work between the lines and take people on. He is a player of the future. You see the Samir Nasris and David Silvas, in a few years you never know where Mats might end up.” He added: “I know about Mats and all the scouting reports here said to sign Mats Daehli. He has been scouted by the club before and they would have gone in for him anyway apparently. “They had been watching him before, they went to the Norwegian cup final, they had seen him a few times, but obviously I did not need to go and watch him as I had worked with him close up.” Daehli put his decision to join the south Wales club down to the chance to continue working with Solskjaer after their time together at Molde. “Of course it was difficult to say no to Manchester United,” he said. “I had good years there but I wanted to play for this manager. He said he wanted to take me here. I am delighted to sign and I want to help the team.” Solskjaer had already brought in Magnus Wolff Eikrem from Heerenveen and 18-year-old Norway international Daehli becomes the latest addition. The Cardiff boss did not reveal how much the teenager had cost, but explained Daehli rejected the chance to return to Manchester United, who had the chance to buy him back after selling him to Molde last summer. Cardiff manager Ole Gunnar Solskjaer has made his second signing in the space of a week after confirming the arrival of Mats Moller Daehli from Molde.center_img Press Associationlast_img read more

Team Goliath register new strip record at drag race meet

first_img… Suriname’s Ramcharran cops Champion driver title NOT even the rains could have quelled the enthusiasm of the crowd that turned up on Sunday for the season-opening drag race meet of the Guyana Motor Racing and Sports Club (GMR&SC) dubbed Reaction.The early morning showers had very little bearing on the afternoon crowd that ended the day in fine style with team Mohamed’s Enterprise Goliath resetting a new strip record of 7.5 seconds.The only car registering that time, the blue GTR was left competition-less, decimating its brother, Nismo as well as several bikes with driver Josh Ramsey taking that trophy.Bike action was also a crowd-puller during Sundays meet.Meanwhile, a specially organised exhibition between the GT-R and eight-second winner Shawn Persaud had to be scrapped due to a false start on account of the starter.Persaud, who drives a Toyota Caldina won the eight-second class hands down as he easily overcame the challenges of the two Surinamese cars that were in his class.The nine-, ten- and eleven-second class belonged to Suriname’s Vishal Ramcharran, who piloted his Toyota Mark X to three consecutive titles, including the final race of the day against his fellow Surinamese.In the twelve-second class Raymond John took the trophy while Imran Khan and his Toyota took the 13-second class for a record third time.Sunil Singh and Devindra Persaud won the 14- and 15-second classes as the day closed with one of the largest crowd-shows ever for a drag-racing event.In the bike class, Rajiv Lallbeharrie of Suriname took the top award.The next event in the calendar is the first Race of Champions billed for April 2.last_img read more

Marisa Fischetti has gone from 2 ACL tears to a key cog in Syracuse’s offense

first_img Facebook Twitter Google+ Marisa Fischetti had spent the last nine months waiting to prove to herself and everyone else that her injury was finally behind her. On Sept. 23, 2017, Fischetti netted the equalizer in the 53rd minute against Long Island SC. It was her first goal as a member of the U.S. Development Academy’s FC Fury NY – the culmination of a grueling return to the field following a left ACL injury in the fall of 2016. One year later, in 2018, Fischetti would have to do it all over again, this time with her right knee. Now a redshirt freshman forward for Syracuse (2-4-1), Fischetti has overcome an ACL tear in both of her knees. Physical limitations and internal doubts have made this comeback more difficult than the first, but Fischetti now finds herself second on the team in shots on goal and starting five matches. “It was definitely hard,” Fischetti said, “I was finally feeling 100% after my first ACL when I came here before preseason last year.” Fischetti first tore her right ACL late in her junior season at Massapequa (New York) High School. The injury came right before the state playoffs, in which the Chiefs failed to capture their fourth-straight state title. AdvertisementThis is placeholder textFischetti’s rehab consisted of three days a week at physical therapy sessions. She started on an anti-gravity treadmill to alleviate the impact on her knee and then worked her way to a regular treadmill. Her physical therapist emphasized plyometrics and cardio instead of weight training. Six months after the surgery, Fischetti’s surgeon was disappointed in the lack of strength in her knee, Fischetti said. Once she was cleared to play, she opted to play for FC Fury. Since the Fury were an U.S. Development Academy club – which disallows playing for any other team while on the roster – she was forced to forgo her senior year at Massapequa. Massapequa went 53-4-5 in her three years there. As a true freshman at SU, Fischetti started in the Orange’s first preseason match against Rutgers. She felt no limitations in the first half, but 20 seconds into the second half, an awkward cut in the turf sent an all-too-familiar pain cutting through her leg. “Just the way I started freshman year of college was really difficult for me,” Fischetti said, “I was really down first semester last year.”Eva Suppa | Digital Design EditorWith her season over before it started, Fischetti missed the first two weeks of school. When she returned, she completely committed to rehab and school, she said. This time, the rehab went from three days to five or six. The anti-gravity treadmill became a regular treadmill just three months after surgery. This time around, she was doing 225-pound squats with bands on her legs and 400-yard lunges with weighted vests. For her rehab, Fischetti chose Troy Gerlt, the men’s lacrosse team’s trainer, over Meagan Bevins, the women’s soccer teams’ own trainer. Gerlt is known for rehabbing knee injuries, Fischetti said, and she hoped he could help her come out stronger. She worked with Gerlt all fall and spring, and her diligence didn’t go unnoticed by teammates. “She never took a day off,” senior forward Sydney Brackett said. “She was very calculated in what she was doing and why she was doing it … she always showed up with a smile on her face.” Last February, a new wave of self-doubt in her abilities came flooding back. The Orange had hired Nicky Adams to be their new head coach, and a whole new staff followed. The coach that’d recruited her — Phil Wheddon — was gone, and Fischetti had no college stats to prove she could still play at a high level. Adams sensed a lack of self-confidence, not just in Fischetti but in the team as a whole following a 3-15 campaign. Fischetti even admitted her worries to her new manager, saying she was “a little intimidated, scared, afraid that I can’t prove myself.” Having suffered a season-ending injury herself in 2000 at Texas A&M, Adams could relate.“I think any time you come back from an injury there’s self-doubt,” Adams said, “‘How hard can I go? Will I be the same player? Can I improve?’ And it’s just about putting them in situations where they gain confidence.” Fischetti continued to work through the summer, getting her speed and agility back as close to they were before her injuries. She also worked with a soccer trainer to retune technical skills like shooting and passing. The forward entered the 2019 season donning a knee brace, and has started every match but the season-opener at the top of Nicky Adams’ 4-3-3 base formation. As injuries to teammates piled up, she went from a fixture in the starting lineup to a premier offensive threat, recording five shots on goal in six matches. Yet she said she lacked the self-confidence she once had. Something was still off. So Fischetti asked Bevins if she could take off her knee brace: a light, flexible wrap holding years of pain, doubt and hard work. The trainer agreed. “I felt a lot more confidence, I felt stronger,” Fischetti said, “When I go into a tackle I don’t even think about it anymore because that’s how I get hurt so I try not to focus on it.”Fischetti has played the last two matches without a knee brace. She recorded a career-high three shots on goal in a 0-0 draw with Fordham on Sept. 15, followed by texts and calls from a number of teammates who’ve noticed her looking “faster and more confident.” “We’re really proud of her,” Brackett said. “We’re proud of her comeback and we can’t wait to see what she does in ACCs.” Comments Published on September 19, 2019 at 12:11 am Contact Tim: tnolan@syr.edulast_img read more

In the Midst of Conflicting Tunes, NNL Insists on Play-off for…

first_imgDuro Ikhazuagbe and Femi SolajaThe Nigeria National League (NNL) insisted yesterday that it is not yet Uhuru for Bendel Insurance FC of Benin in its quest to join the professional rank of the country’s club football yet.The lower league body clarified the status of the Benin club against a backdrop of conflicting tunes that Bendel Insurance’s 2-1 victory over Shooting Stars of Ibadan at University of Benin Sports Complex on Monday morning was enough to guarantee its qualification to the Nigeria Professional Football League (NPFL). But yesterday, the Executive Secretary of NNL, Lawrence Katken, clarified that the lower league body was a bit disturbed with phone calls from interested parties for clarification on whether the Super 8 play-off would still go ahead or has been shelved.“We stand by the rules set at the beginning of the season which will allow two top teams in each group to contest for a play-off that will produce four teams that will gain promotion into the elite division next season,” he explained yesterday.He said further that, “the club congress without any opposition agreed at the beginning of the season that the two top teams in each group will play the Super 8 where the top four clubs will pick the tickets into the NPFL.“The arrangement is no secret to all the clubs. They are aware of the rules guiding the league, except some people want to be mischievous about it.“For me, it is not true that Insurance FC has gained promotion to play the NPFL in NPFL next season. They still have a bridge to cross and that’s the Super 8,” he confirmed.According to the rule of the NNL at the beginning of the season, the top two finishers in each of the two groups in each conference (North A1, A2 and South B1, B2) will square up to produce two teams in each of the conferences to move to the Nigeria Professional Football League (NPFL).THISDAY learnt yesterday that of the four groups, only one group (B1 that have both Bendel Insurance and 3SC is the only one about to conclude their season as Insurance takes on Spartans today at the Agege Stadium.The two northern groups, it was also learnt, are a long way from concluding their season.“Kada City and Kaduna Utd match that was disrupted in the 88 minutes with Kada City leading by a lone goal is before the Disciplinary Committee of the Nigeria Football Federation. The decision reached on that case is likely going to alter the standing in the group.In the other group of the northern conference, Malumfashi FC has a protest before the NNL, asking that it be awarded maximum points in the game with Real Stars. The match was said to have ended due to heavy down pour and poor visibility.“The case is also before the disciplinary committee, and the outcome will also have a telling effect on the group by blowing it wide open if it goes against Real Stars,” observed a source close to the NNL.With all these pending matters before the NFF’s Disciplinary Committee and the fact that NPFL rule grants promoted teams minimum of one month to prepare for life in the Nigerian topflight, appear major hurdles that may make sticking to the NNL rule of a Super 8 play-off difficult.The League Management Committee (LMC) had to resort to an abridged league, that is ending the season midway and declare the leading team, Lobi Stars, Nigeria’s representative in next season’s CAF Champions League.Nigeria would have missed the deadline for the submission of the name of the country’s representatives if LMC had insisted on going all the way to the last game of the NPFL.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

AgiproNews Italian View: Gambling left red-faced by mafia investigations

first_img TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Share Related Articles Submit Italian bookmakers face cruel summer as ADM sanctions shop closures July 27, 2020 Di Maio’s man Giacomo Lasorella takes leadership of AGCOM August 17, 2020 StumbleUpon Share Italian gambling has been rocked by the anti-Mafia taskforce investigation into illegal/fraudulent gambling activities conducted across Southern Italy.This November, the anti-corruption taskforce of the financial and federal police had conducted eighty search warrants arresting sixty-eight suspects on charges of corruption and fraud.The criminal investigations targeting the coastal cities of Catania, Reggio Calabria and Bari, are reported to have seized assets worth + €1 billion assisting illegal functions for money laundering, stolen data, tax evasion and the operating of black market gambling websites.A sophisticated illegal gambling and money laundering network believed to be attached to the Santapaola (Sicily), Tegano (Calabria) and Martiradonna-Parisi (Puglia) Mafia families are reported to have accumulated a gaming turnover of over €4.5 billion.The ongoing Italian police investigation carries an international spill-over, as the network is reported to have used the services of Malta-licensed online betting operators Planetwin365, Revolutionbet, Bet1128, Betaland and Enjoybet, as money laundering vehicles.Catania Investigation prosecutor Carmelo Zuccaro has stated that the Malta incumbents had knowingly participated in money laundering transactions for the Mafia network.In the case of planetwin365, a leading Italian player for retail and digital markets, the police task force has clarified that its investigation focused on the firm’s previous management which operated holding company SkS365 Malta (timeframe 2015-2017).The governance of Austria based SKS365 Group has issued a corporate statement underlying that it fully supports the police’s investigation, meanwhile legacy Italian bookmaker Betaland has moved to shut-down its website.The anti-corruption investigation marks a new low for Italian gambling, taking place during a critical period for all industry incumbents adjusting to the hostile operating conditions imposed by the Lega-5Star coalition government.Italian Deputy PM Luigi Di Maio praised the work of federal police, insisting the coalition to be fundamentally right in targeting ‘gambling as a fertile ground for mafias to secure easy money’.Overseeing Italian gambling regulations and licensing policy, the Agency of Customs and Monopolies (ADM) will likely be pressured to revise its stance with regards to Malta-licensed operators, as further lousy news circulates, in what has become a vast and embarrassing net for Italian betting._______________Content Provided by AgiproNews Italialast_img read more

Team Vitality announces Razer sponsorship

first_imgRazer announced it will be the exclusive gaming peripheral provider for Team Vitality. The two enter a 12 month partnership as Razer will provide all members of Team Vitality products for its PC and console teams. Nicolas Maurer, Team VitalityOriginally started as a Call of Duty team, Team Vitality has now expanded to teams across ten games including Rocket League, FIFA and League of Legends. They took 4th place in the EU LCS in the Spring Split after forming right before the 2018 season.We’re thrilled to announce the partnership of @Team_Vitality and Team Razer.Welcome to the #TeamRazer family! ? ? pic.twitter.com/haORtKH3c8— Team RΛZΞR (@TeamRazer) May 8, 2018“As a premium esports organization, Vitality is particularly ecstatic to partner with Razer,” said Team Vitality CEO, Nicolas Maurer. “We are both aiming at excellence and will equip all of our more than 50 Vitality players with the latest generation Razer gear.”Along with their most recent large investment from Korelya Capital, Kima Ventures, and H26, Team Vitality holds other strong sponsorship’s from the likes of Omen by HP and Adidas as well. In addition to being adorned in everything Razer, Vitality will also be producing social media content featuring Razer products.“Esports continues to grow and our deal with Team Vitality is a sign of how truly global esports has become.” said Yann Salsedo, Senior Lead Esport & Social Media at Razer. “Team Razer is always looking to work with ambitious, talented teams, and we found that ambition and drive with Team Vitality.”As a well known company not just among esports, but gaming as a whole, Razer’s sponsorship list extends to fellow League of Legends team, 100Thieves and SK Telecom T1, along with Seoul Dynasty and SK Gaming, just to name a few.Esports Insider says: It’s great to see a team like Vitality earn this huge endemic sponsorship. As a strong contender in the EU LCS this partnership will certainly help prove their worth as the LCS format will soon be moving to franchising and organisations will be required to apply for their positions in the newly formatted league.last_img read more

I would like to coach in Europe – Samuel Eto’o

first_img Source: AFP Samuel Eto’o is convinced that he is the best African footballer of all time and is now targeting more success as a coach, the Cameroon great told AFP in an exclusive interview.The 38-year-old is pondering his next step after hanging up his boots in early September, bringing the curtain down on his playing days with a brief spell turning out for Qatar Sports Club.“There comes a point where you have to look for other challenges. That is what I have chosen to do. I have had a wonderful career,” Eto’o told AFP during a visit to Paris.His career spanned more than 20 years in which he won 18 major trophies, including two Champions Leagues with Barcelona and another with Inter Milan.He also won the Africa Cup of Nations twice with Cameroon as well as Olympic gold in 2000.One prize that did get away from him, however, was the Ballon d’Or.Liberia’s George Weah, in 1995, remains the only African to have claimed that award, but that does not change Eto’o’s belief that he is the best player to have come out of the continent.“I don’t need to lay claim to anything, it’s just a fact. Whether you accept it or not, it’s a fact,” he said, as frank and outspoken as ever.“Everyone is entitled to their opinion. You know, as an African, you are always being judged. What is unacceptable is that the first people to do it are always Africans. They can’t take anything away from me because I am proud to be African.“When I look at where I came from and how far I got, I tell myself that I am entitled to be proud. That doesn’t mean I am big-headed, far from it. It is just that, in this world, people like puppets and I don’t accept being one.”Could have won World CupEto’o also turned out for the likes of Real Madrid and Chelsea, but for all he won in the game, it is his first major title with his country that sticks out when asked for his fondest memory.“I would say my first Africa Cup of Nations (in 2000), because it was my first AFCON, an unforgettable moment, and I had come away from the 1998 World Cup in France with the hope of making history,” he said.“I wasn’t a starter in that magnificent team but in the end I worked my way into the side and contributed. It is a beautiful memory.”Eto’o also went to four World Cups but never got beyond the group stage with the Indomitable Lions.“I told myself that, eventually, with all the magnificent players I played alongside for Cameroon, we could have won the World Cup,” he said.“It wasn’t to be. That is the only trophy I didn’t manage to win but I had some unforgettable moments with that team.”Part of a golden generation that featured Rigobert Song, the late Marc-Vivien Foe and Geremi, Eto’o believes he has left a legacy by helping bring through the next generation.Ajax goalkeeper Andre Onana is one player to have emerged from the Eto’o Foundation.He has also been asked to do work for the Confederation of African Football, but he says it is only a matter of time before he returns to football in a more hands-on role.On coaching in Europe“I know my next challenge will be to win at least as much as a coach as I did as a player,” he said.“I would like to coach in Europe, and then one day return to Africa and win there. I don’t know how to lose.“I am lucky to have made history at different clubs. I have a lot more doors open to me than others, but you need to be prepared.“I want to learn, have all the qualifications, understand how things work either in my own businesses or in my future career, in order to come back in 12 or 24 months and start a new career, which I hope will be just as beautiful.”But having won the Champions League playing for both Pep Guardiola and Jose Mourinho, whose style is he more likely to be replicated?“I am a fan of Guardiola. I love football and I think it’s important to win in style.“Football is like going to the theatre: it is great to go to the stadium and see a spectacle. When you watch Guardiola’s teams play, you never get bored.”last_img read more