Norway’s sovereign fund pulls plug on ESG managers to cut costs

first_imgNorway’s giant sovereign wealth fund terminated asset managers running NOK20bn (€2bn) of green investment mandates last year, bringing the investments in house to save costs.Norges Bank Investment Management (NBIM), which runs the NOK8.6trn Government Pension Fund Global (GPFG), said in its annual responsible investment report that its environmental, social and corporate governance (ESG) themed mandates made a loss of 8.3% over the course of last year.The allocation’s annualised return since inception just over eight years ago was 4.5% – below the 7.3% return on the MSCI Global Environment index over the same period, according to NBIM data.“To reduce cost in the management of the fund, the externally managed, environment-related mandates were terminated in 2018,” NBIM said in the report, adding that these mandates were now almost totally managed internally. “We have built up extensive internal expertise in environmental technology,” it said.The mandates – set up in 2010 on the Norwegian Finance Ministry’s instruction – totalled NOK43.3bn at the end of 2018. A spokesperson for NBIM said around NOK20bn was managed externally. According to the rules laid down by the ministry, the allocation can range between NOK30bn and NOK60bn of assets.Further readingNorway’s oil fund to axe real estate arm and reduce target allocation NBIM also announced yesterday that it was discontinuing Norges Bank Real Estate Management as a separate entity within the organisation, as part of an overhaul of its approach to property investing. Rachel Fixsen reports for IPE Real Assets.Releasing the responsible investment report yesterday, NBIM also said it had dealt with new climate-related issues last year.“Some new issues are emerging from the transition to a low-carbon economy,” said Carine Smith Ihenacho, chief corporate governance officer.In 2018, she said, NBIM had talks with companies in the car sector that use cobalt as a component of lithium batteries. Companies involved in mining cobalt have been linked to human rights issues in recent years.“We contacted companies to understand their low-emission plans and how they are managing the risk of human rights violations in their supply chains,” Smith Ihenacho said.According to the report, climate change was the ESG topic most frequently addressed in NBIM’s meetings with companies last year, having been a priority topic at 272 events in 2018.The manager said it had conducted almost 1,500 company meetings in 2018 at which it discussed governance issues and followed up on its expectations of businesses.last_img read more

European Leaders Warn COVID-19 Vaccine May Not Be Close

first_img“I said we would throw everything we could at finding a vaccine,” Johnson wrote in The Mail on Sunday newspaper. “There remains a very long way to go, and I must be frank that a vaccine might not come to fruition.”Johnson added that Britain is taking “baby steps” toward reopening, “trying to do something that has never had to be done before — moving the country out of a full lockdown.”“Despite these efforts, we have to acknowledge we may need to live with this virus for some time to come,” Johnson cautioned.He said the U.K. needs to find new ways of controlling the coronavirus. Those methods include more testing for people with symptoms, as well as tracing the contacts of infected people.Coronavirus has infected over 4.6 million people and killed more than 312,000 worldwide to date, according to Johns Hopkins University. The U.S. has reported nearly 89,000 dead in the pandemic and Europe has seen at least 160,000 deaths. Two major European leaders have issued warnings to their citizens that the world needs to adjust to life with the coronavirus, and that people cannot wait to be saved by a yet-to-be-developed vaccine.Italian Prime Minister Giuseppe Conte and British Prime Minister Boris Johnson made the comments over the weekend.With 36 million newly unemployed people just in the United States, economic pressures are building to reopen and return to some sense of normalcy, even with the risk of new waves of infections and deaths.Conte is allowing restaurants, bars and beach facilities in Italy to open Monday, the same day that church services will be allowed to resume and shops can reopen.″We are facing a calculated risk, in the awareness … that the epidemiological curve could go back up,” Conte said late Saturday. “We are confronting this risk, and we need to accept it, otherwise we would never be able to relaunch.”He added that Italy could “not afford” to wait for a vaccine, as health experts believe one could still be months or even years away.“We would find ourselves with our social and productive fabric heavily damaged,” Conte said.For his part, Britain’s Johnson, who was hospitalized last month with COVID-19, told his citizens on Sunday that there is a possibility that a vaccine may not be developed at all.last_img read more

Axeman ranked as Super Featherweight

first_imgAlthough former World Boxing Association (WBA) featherweight Super Champion Nicholas ‘The Axeman’ Walters is yet to formally decide whether he will fight as a featherweight (126 pounds) or super featherweight (130 pounds) this year, it is clear that the various controlling bodies have made up their minds that he is now in the higher weight class.Three of the major controlling bodies in professional boxing, who issued their rankings this week, have placed him in the super featherweight division.He is ranked No. 2 by the WBA, No. 6 by the World Boxing Organization (WBO) and No. 7 by the World Boxing Council (WBC). With these rankings, he can fight for any of these world titles, if his promoters Top Rank, led by Bob Arum, can get the respective champion to agree.Walters won the vacant WBA featherweight title on December 8, 2012 when he defeated Daulis Prescott here in Jamaica by way of a seventh round tko. After two successful defences of that title, he earned super champion status when he stopped Nonito Donaire on October 18, 2014 in the sixth round in Carson City, California. In his first scheduled defence as super champion, however, he faltered.ONE POUND OVERWEIGHTHe weighed in at 127 pounds for his title fight against Miguel Marriaga in New York on June 13, 2015, and that one pound overweight cost him his title and a possible million-dollar fight this year against WBO champion Vasyl Lomachenko, which was in the making at that time. He went on to beat Marriaga decisively, however, by way of a unanimous decision, and his stocks remained high.On December 19 last year, he fought American Jason Sosa in the super featherweight, 130-pound class, which was seen as a test fight in that weight category. He looked good, but the fight was ruled a draw. The decision was a controversial one and most commentators stated emphatically that it was their opinion that Walters had won.Walters told The Gleaner after that fight that he felt comfortable fighting at 130 pounds, but also made the point that he could easily have fought at 126 that night. He said, recently, that he and his team would be making the decision early this year as to which weight class he will fight in.The decision seems to have been made for him.Ranked at No. 2 in the 130- pound class by the WBA, he is eligible to fight the Japanese champion in that division, Takashi Uchiyama, in the near future. Uchiyama, who is 36 years old and has a 24-0-1 record, made a successful title defence on December 31, by stopping Oliver Flores in the third round.Walters, who is 29 has a 26-0-1 record and told The Gleaner that he is confident that he will fight for a title early this year.last_img read more

2 X Nylon Sleep-In Hair Nets : good product at a good

first_imgPretty good, holds hair in spot pretty nicely.Perfect fit will be buying additional thank you j.2 X Nylon Sleep-In Hair Nets (dark Brown) with Elastic Edge – Stretch to FitELASTIC BAND FOR EASY FIT COLOUR MIGHT VARY FROM DARK BROWN TO REDDISH BROWN. GOOD QUALITY DESIGN. PERFECT FOR STYLINGNot for me but mother in legislation appears to be pleased.Little bit huge on my head to continue to keep the hair secure but easily solved with a clip.Acquired for an elderly girl – assists hold her ‘set’.2 X Nylon Sleep-In Hair Nets (dark Brown) with Elastic Edge – Stretch to Fit : These hair nets are very big and. These hair nets are very big and sturdy – exactly what i was looking for but might put some people off. Love that you get two so that you can always have one spare one does somehow rip. Great hair internet for preserving hair tidy even though you slumber.The nets are big and comfortable. Preserve my medium duration bob tidy. Ordered on a thursday they were shipped the following monday by royal mail. One of the nets appeared looser than the other a single and i realised that it was since the skinny elastic about the edge was damaged in many locations. This was quickly fastened by inserting yet another size of elastic. I think i may possibly have received a net which had been returned as defective.Spouse has been wanting for theses for a whilst, fantastic product at a superior price tag.last_img read more

Photo: Xavier Is Preparing For Tonight’s Game vs. Arizona By Listening To DMX’s “X Gon’ Give It To Ya” On Repeat

first_imgChris Mack with his mouth wide openCINCINNATI, OH – FEBRUARY 28: Head coach Chris Mack of the Xavier Musketeers reacts in the first half of a game against the Providence Friars at Cintas Center on February 28, 2018 in Cincinnati, Ohio. Xavier won 84-74 to claim the Big East Conference regular season title. (Photo by Joe Robbins/Getty Images)Xavier is an 11.5-point underdog in tonight’s Sweet 16 match-up against No. 2 seed Arizona, but if the program’s Spotify playlist is to be believed, the Musketeers are receiving proper motivation. Xavier Athletics tweeted out a picture of a playlist, which is just DMX’s 2003 hit “X Gon’ Give It To Ya” on repeat.Tonight’s playlist. #XMarchesOn pic.twitter.com/fdfsFfI0tv— Xavier Musketeers (@XUAthletics) March 26, 2015When it comes to X vs. the ‘Cats, one of the verses is a bit prophetic.Ain’t never gave nothin’ to me But every time I turn around Cats got they hands out wantin’ something from me I ain’t got it so you can’t get it Lets leave it at that cuz I ain’t with itPeople are certainly not giving Xavier a real chance in this one. We’ll have to see if the Musketeers can pull the major upset.last_img read more

Racists Tweets Follow Bruins Loss on Goal By Black

Boston has long had a reputation for racial intolerance, and it reared its head again Thursday night following the  4-3 overtime loss by its hockey team, the Bruins, to the Montreal Canadiens.Black Montreal player P.K. Subban scored the winning goal and Boston fans blew up Twitter Thursday night and went “Donald Sterling.”Here is a sample of the Tweets.– That stupid n***** doesn’t belong in hockey #whitesonly– F*** YOU N***** SUBBAN YOU BELONG IN A F****** HOLE NOT AN ICE RINK– PK Subban = F****** N*****– F*** PK Subban. F****** n*****. Wish he got sold– subban is the definition of a n*****– Someone needs to smack PK subban across his big n***** lips. #scumbag– SUBBAN IS A F****** PORCH M*****– F*** that stupid m***** #subban– F*** you subban you f****** lucky ass n*****!– Once again, Subban stop being a n*****– N***** was trending in Boston because P.K. Subban scored… It’s a rare moment in my life to be ashamed to be a Bruins fan.– I bet the Bruins fans calling P.K. Subban a n***** on Twitter have no idea his brother plays for their minor league team.– the hashtag #N***** is trending in Boston after Subban’s goal. Do they tweet this after a David Ortiz HR? f*** off Boston, be better.– N***** trending in Boston- #NHL another sport with issuesBruins president Cam Neely issued this statement concerning the racist tweets Friday afternoon: “The racist, classless views expressed by an ignorant group of individuals following Thursday’s game via digital media are in no way a reflection of anyone associated with the Bruins organization.” read more

De Sciglio is happy after todays win

first_imgThe Juventus footballer believes the team is achieving all the targets they have set for themselves in the 2018-2019 seasonMattia De Sciglio has been with Juventus since 2017, and in his second year with the club, he’s very happy.To him, the Bianconeri are achieving all the objectives they are setting for themselves in the Italian Lega Serie A.“We’ve achieved the target we set ourselves after the Atalanta game – to end the year with a win,” said the defender according to the club’s official website.“All the hard work we’ve put in since the start of the season has been well worth it.”Franck Ribery, FiorentinaFiorentina owner: “Ribery played better than Ronaldo!” Andrew Smyth – September 14, 2019 Fiorentina owner Rocco Commisso was left gushing over Franck Ribery’s performance against Juventus, which he rates above that of even Cristiano Ronaldo’s.“Samp are very well organized. They’re good at playing between the lines and we had a few problems when we got a bit stretched,” he added.“But when we pulled tighter together again – with a little luck too – we managed to secure the win.”“With the players, we have up front we know we can score at any moment so it’s very important for us to be strong defensively,” he commented.“The better we move as a unit, the better results we get. Having the best defense is another achievement for us and something we want to repeat in the second half of the season.”last_img read more

Amazon reportedly plans to build new Whole Foods Market stores

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Audi to launch new S and RS models refreshed A4 and Q7

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Shazam movie leaked online Free download to affect the boxoffice collection

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