Paddington flair

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​PRI co-founder says Norway’s sovereign fund must exit oil and gas stocks

first_imgOne of the authors of the UN’s Principles for Responsible Investment (PRI) is calling on Norway’s finance ministry to let the country’s sovereign wealth fund divest its holdings in international oil and gas companies.In an open letter to finance minister Siv Jensen, Carlos Joly argued that the country’s reliance on such energy sources risked turning Norway into “a has-been rich country”.Joly, a fellow of Cambridge University’s Institute for Sustainability Leadership, co-chaired the expert group that drafted the PRI.In the letter – which appeared yesterday on the website of the publisher Social Europe – Joly said: “Unless Norway starts to get ready for the world of 2030 and 2050, if it keeps going for the short-term gains by investing in pumping all the oil and gas it can manage and exploring for more, it will end up a has-been rich country. Carlos Joly, University of Cambridge“The NBIM should be allowed to divest of all its energy sector holdings excepting solar, wind and other non-carbon-emitting energies,” he said, adding that nuclear energy should also be off limits.Joly argued that Norway’s economy was far too dependent on oil, putting future generations of Norwegians at risk as national, regional and global policies to lower carbon emissions take effect.He added: “Furthermore, is continuing full-on oil exploitation consistent with Norway’s legal and moral obligations as signatory to the UN SDGs [Sustainable Development Goals] and to the Paris Climate Accord?”Norway’s finance ministry launched a consultation on the commission’s findings on 28 September. The deadline for submissions is 28 November. “Letting the [fund] divest of international oil and gas companies is a step in the right direction and a strong signal to investors, companies, and other governments around the world.”In November 2017, Norges Bank Investment Management (NBIM), which manages the NOK8.3trn (€873bn) Government Pension Fund Global (GPFG), wrote to the ministry recommending selling off more than NOK300bn worth of oil and gas equities on the grounds that such a move would reduce Norway’s overall exposure to the risk of a permanent fall in energy prices.However, at the end of August, a commission set up to investigate the matter argued against such a divestment, saying it would not be an effective insurance against such a scenario. Joly – a former fund manager with Natixis – urged Jensen to agree with NBIM and discard the commission’s view.last_img read more

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APG and others outline stance on BP net-zero ambition, delivery

first_imgIn their statement, the investors said they welcomed this as a response to last year’s Climate Action 100+ shareholder resolution, and also expressed their support for BP’s reporting on the consistency of new material capital expenditure investments with the goals of the Paris Agreement, in line with the 2019 AGM resolution.‘Ground-breaking’ According to the investors, this reporting “breaks new ground by developing by developing a profitability and carbon intensity test for projects under conditions which BP believes are consistent with the Paris goals”.They cautioned that the assumptions underlying this test should be kept under careful review “given the possibility that the COVID crisis may have brought forward peak oil”.“We also look to forward to building on our constructive engagement in this area, exploring how to ensure that capex is also consistent with carbon budgets aligned to BP’s journey to net-zero,” they added.The investors also said they would “welcome more clarity” on BP’s short and medium-term targets aligned to its net-zero ambition, such as greenhouse gas emissions targets for energy produced and sold (Scopes 1-3), the links to remuneration, and planned levels of investment in traditional oil and gas and low carbon technologies.“Providing a roadmap and aligning capital expenditure with a finite carbon budget are clear indicators to investors of a shift in company strategy”Steve Waygood, chief responsible investment officer at Aviva Investors“We commend BP for setting out its net-zero ambition,” said Steve Waygood, chief responsible investment officer at Aviva Investors.“Providing a roadmap and aligning capital expenditure with a finite carbon budget are clear indicators to investors of a shift in company strategy, providing milestones against which to assess progress. We look forward to continuing our engagement with BP to ensure that capex remains consistent with its goal to reach net-zero by 2050.”*Full list of supporting investors: APG Asset Management, Aviva Investors, AXA Investment Managers, BMO Global Asset Management on behalf of its advisory clients, EOS at Federated Hermes on behalf of its stewardship clients, HSBC Global Asset Management, Kempen, Legal & General Investment Management, Local Authority Pension Fund Forum, M&G Investments, Newton Investment Management, PGGM, and UBS Asset Management.Looking for IPE’s latest magazine? Read the digital edition here. Major global institutional investors involved in collaborative engagement with BP as part of Climate Action 100+ (CA 100+) have publicly set out their perspective on the company’s commitment to become a net-zero oil and gas major, welcoming “ground-breaking” reporting on capital expenditure but pledging further attention to the company’s spending.APG Asset Management, Aviva Investors, Legal & General Investment Management, PGGM and UBS Asset Management are among those* putting their name to statement that has been drafted “for consideration” upon the occasion of BP’s annual general meeting tomorrow.Due to the coronavirus and government guidance on social distancing, the AGM will be a closed meeting and will be live streamed on the Internet. Investors will not be able to participate, but chair Helge Lund is expected to acknowledge the investors’ statement when he addresses the meeting.The investors’ statement follows BP in February announcing a net-zero “ambition”, with then new chief executive officer Bernard Looney saying it would provide details about how it planned to deliver on that in September, when it holds a capital markets day.last_img read more

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Sr. Mary Laurel Hautman O.S.F.

first_imgSr. Mary Laurel Hautman, age 80 of the Srs. of St. Francis in Oldenburg, died Sunday, July 31, 2016 at the Convent.  Born October 16, 1935 in Cincinnati, she is the daughter of Verena (Nee: Kopp) and Louis Hautman.  She entered the convent September 8, 1952 and made her final vows August 12, 1958.She attended St. Dominic School.  Mary Laurel’s brothers were slightly older than she, and each eventually left to fight in WWII.  The young student recalled, “From the time that I was in the second to the seventh grade, my four brothers were never home together.  There was constant coming and going as they came home on furloughs, and soon we would take them back to the Union Terminal.  When the war was over we were very blessed as they all came home.”Later Mary Laurel attended high school at the Immaculate Conception Academy in Oldenburg where she became familiar with the Sisters of St. Francis.  During her junior year she began to consider a religious vocation.The young novice went on to graduate from both Marian University and Xavier University.  Sr. Mary Laurel started her ministry as an elementary teacher having taught at Holy Family in Richmond, IN, St. Anthony in Streator, IL, Our Lady of Mercy in Dayton, OH, and Our Lady of Victory, St. James, St. Aloysius Gonzaga and Our Lady of Lourdes in Cincinnati, OH.  She served as a Pastoral Associate at St. Bonaventure in Cincinnati, OH, and finally as Co-Director of the Sisters’ Communications office in Oldenburg, IN.During her 30-year teaching career, Sr. Mary Laurel taught grades one, two, three and six, but her favorite was teaching the first grade students as they were so eager to learn and full of energy.  During a sabbatical year she was blessed to travel to visit the convent’s Prayer Lodge in Montana, and returned there years later for another visit. Mary Laurel greatly treasured her memories of the Native Americans she met – and their prayer ceremonies, dances and pow-wows.  In her retirement years she continued to minister in the Office of Congregational Advancement, and later as a Minister of Praise, and appreciated all the care she received from Sr. Judith Werner through the years, and from the caring staff at St. Clare Hall.Sr. Mary Laurel once commented, “As I look back on my years in Community, some years have not been easy, but I learned long ago that the convent and our Community in particular is where I am supposed to be.  God has walked close to me all during these years and I describe my God as holding my hand as we walk this journey of life together.”She is survived by nieces and nephews.  In addition to her parents, she is also preceded in death by brothers Louis, Thomas, Robert and Jerry Hautman.  Visitation is Thursday, August 4th, from 1 – 3 p.m. at the convent chapel.  Funeral services follow at 3 p.m. with Rev. James Meade officiating and burial in the convent cemetery.  Memorials may be made to the Srs. of St. Francis, P.O. Box 100, Oldenburg, IN, 47036 (www.oldenburgfranciscans.org).last_img read more

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Kylea Stamper

first_imgMemorial contributions may be directed to the Works of Mercy or a local food pantry.  To sign the online guestbook or to leave a personal condolence, please visit www.cookrosenberger.com.  The staff of Cook Rosenberger Funeral Home is honored to care for the family of Kylea Stamper. Kylea Stamper, of Brookville, was born on September 5, 2007 in Oxford, Ohio.  She was in 3rd grade at Brookville Elementary School. Kylea was a social little girl who loved animals, reading, art and enjoyed signing.  She was a member of Girls on the Run and played soccer, volleyball and basketball.  Kylea would help anyone with anything and loved the outdoors – she especially enjoyed riding quads and dirt bikes with her “Pop.”  She was known to light up a room with her presence and loved her dog, “Willy.”  Kylea also enjoyed reading and learning her bible.  On Sunday, March 19, 2017 she was in a car accident and lost her life; however, she gave to others by being an organ donor. Friends may visit with the family on Thursday, March 22, 2017 from 4 p.m. until time of service at 7 p.m. at Cook Rosenberger Funeral Home, 929 Main Street, Brookville. Cremation will follow.center_img Those surviving who will cherish Kylea’s memory include her mother and step-father, Carrie and Darren Baker of Connersville; sister, Courtney Stamper of Brookville, a brother, Cody Stamper of Harrison, OH, a step-sister, Kyra Baker of Richmond; grandparents, Scott and Teresa Borgmann of Cedar Grove, and Terry and Vickie Riker of Connersville.last_img read more

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IOC wants athletes’ dialogue as protest calls grow louder

first_imgBy Karolos Grohmann ATHENS, Greece (Reuters) – Athletes will discuss and decide on how best to support the core Olympic values “in a dignified way”, the International Olympic Committee (IOC) said yesterday, as calls to change rules restricting protests at Games grow louder.Several major sports have moved to allow protests, following George Floyd’s death in U.S. police custody on May 25, including world soccer’s ruling body FIFA and the National Football League (NFL).Rule 50 of the Olympic Charter, however, bans any form of political protest during the Games.“No kind of demonstration or political, religious or racial propaganda is permitted in any Olympic sites, venues or other areas,” the rule states. IOC president Thomas Bach said consultations between athletes’ groups around the world were under way.“The IOC Executive Board supports the initiative of the IOC athletes’ commission to explore different ways for athletes to express support for the principles enshrined in the Olympic charter in a dignified way,” Bach told a virtual news conference.After reading a resolution of the IOC executive board condemning racism, Bach was repeatedly asked whether athletes at next year’s Tokyo Games could go down on one knee, as many have done in recent weeks, to show their support for the Floyd protests. “I will not preempt in any way these consultations with many athletes’ representatives,” Bach said. “It would not be fair if now I make a statement giving directions or instructions.”“The framework has been set and now let the athlete commission and athletes discuss among themselves and come up with relevant proposals.”Athletes who breach Rule 50 are subject to discipline on a case-by-case basis and the IOC issued guidelines in January clarifying that banned protests include taking a knee and other gestures.last_img read more

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Business down, some UV store owners hurting

first_imgAkm Alam has owned the Quik Pix photo and camera shop in the University Village for nearly 28 years.But now, Alam is just one of several tenants in the USC-owned UV who might be forced to close up shop in response to hard economic times.Slow day · Store owners at the University Village say business has been declining and fewer students have been visiting. Many owners say they may be forced to go out of business. – Vicki Yang | Daily Trojan“Business has been very, very bad,” Alam said, noting that last September is when he first noticed a decline in customers.The combination of a national economic downturn and a decreasing number of student visitors has hurt store owners in the UV tremendously.The school has not yet noticed this trend, according to Katherine Logan, assistant director of leasing for University Real Estate.“Our vacancy rate last year was 7 percent, which was very low,” Logan said.But Alam believes the university has yet to notice how many tenants are struggling. Many tenants are barely afloat, but can’t close down because they are locked into leases until the end of 2010. But Alam insists he’s not the only one who is fighting to stay open.Soon after 2010, it may be that few of these stores are still around, anyway. As part of USC’s Master Plan, a complete renovation of the shopping center is scheduled.A current draft plans for a “mixed-use residential University Village” that includes space for academic buildings, housing for as many as 1,000 students, retail space and a boutique hotel with 700 beds.These changes will completely alter the face of the UV. The owner of Village Nutrition, known by his customers as Mr. B, said he expects these changes will eventually force him out of his space.“I’ll go into imposed retirement. Most of us will be priced out of business,” he said. “Luckily I’m kind of old now and I need to retire.”Mr. B’s said his store, a vitamin and supplement shop, is already faltering as a result of the recession.“Most merchants are not faring well, at least not the ones who I’ve talked to,” Mr. B said.He attributes poor business to both the economic recession and the changing customer base in the UV.“The students are no longer the main market for most of these stores,” he said. “Either the students don’t like shopping around here or the quality isn’t up to their standards.”Alam has noticed a similar trend at his photo shop. He said that although students once made up around 90 percent of his customer base, they make up only about 50 percent today. And his business is hit especially hard during winter and summer breaks when students leave campus.“Business is based on the students,” he said. “When you lose it, you’re dead. You’re paralyzed.”Logan said the UV is aimed both at students and at members of the community. When deciding on new lessees, she said, her department tries to find a balance between stores that cater to students and community members.“Anyone that expresses an interest and will fit into the tenant mix, we will consider,” she said. “We look at tenants that will service the community, both the students and the community that resides around the shopping center.”But students said they visit the UV for specific stores, such as the Starbucks, 21 Choices or the bike shop, and don’t branch out to the other merchants.“I used to shop at Superior freshman year, until I discovered Ralphs,” said Anna Feldman, a senior majoring in economics and mathematics. “[The UV] is a place for errands, it’s not very welcoming.”Suneesh Sasikumar, a graduate student studying electrical engineering, said he frequents the UV several times a week, but usually just for food or a quiet place to study.“The food places are what I come for primarily,” he said, noting that on weekends he typically sees families around the shopping center.Feldman said she thought adding more cafés and outdoor seating areas could help make the UV more student-friendly.Brian Avila, who lives off Vermont Avenue and does not attend USC, said he likes the UV as is and would not change the types of merchants he finds there.“I come maybe twice a week,” Avila, 18, said. “It seems pretty well-rounded with the movie theater, ice cream shops and grocery store.”last_img read more

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Carter-Williams delivers cathartic performance in Sweet 16 against Indiana just 5 days after fire at home

first_imgWASHINGTON — Michael Carter-Williams’ season has straddled the line between spectacular and subpar, dazzling and disappointing. He’s been a hero in some games, the culprit in others. With Syracuse’s season on the line, in a game against one of the best teams in the nation, Carter-Williams was everything the Orange needed him to be.Aggressive in the lane. Confident from the arc. Relentless on defense.Carter-Williams scored 24 points on 9-of-19 shooting, including a 3-of-6 performance from the perimeter, to help lead fourth-seeded Syracuse (29-9) to a 61-50 win over No. 1-seed Indiana (29-7) in the Sweet 16 of the NCAA Tournament at the Verizon Center in Washington. He used his lengthy frame to his advantage on Thursday night, giving the undersized Indiana guards a seemingly impossible task in trying to defend him. And he did all of this less than one week after his home in Hamilton, Mass., caught fire and forced his family out of its home for the foreseeable future.“We’ve been going through some tough times and I’m just trying to bring a smile to my family’s faces and have them enjoy themselves,” Carter-Williams said.Carter-Williams finished with only one assist Thursday, but he took care of the bulk of the scoring.AdvertisementThis is placeholder textWhether it was a fast-break layup he made in the game’s opening minutes, or a 3-pointer he hit from the left wing that gave Syracuse a 14-5 lead, Carter-Williams asserted himself as the Orange’s most dangerous threat on this night. He reaffirmed that when he nailed a contested 3 from the top of the key, just before falling to the ground from the contact he absorbed, to give Syracuse a commanding 27-11 lead.Head coach Jim Boeheim said he told Carter-Williams earlier in the game to take a 3 even though he didn’t think he’d make it. But if it gave Indiana the idea that he was going to shoot, the Hoosiers would have to defend him outside, which would open up the middle. To Boeheim’s surprise and Syracuse’s benefit, and to the Hoosiers’ frustration, he made it — plus two more.“He made a couple of them and he’s a different player when he can make that shot,” Boeheim said. “We couldn’t get assists because they weren’t coming off.”Carter-Williams didn’t need to create assists.It’s been a strange season for the sophomore guard. He’s had brilliant games like this one and a 15-point, 12-assist performance against Providence on Feb. 20. He’s also had forgettable games, including a dreadful one against Temple where he missed eight free throws and shouldered the brunt of the blame for Syracuse losing to the Owls.Against Georgetown in the Big East tournament, he had only three points on 1-of-7 shooting, and also committed six turnovers.Through all the struggles, Carter-Williams said he remained confident, believing he was a better player than any of those nights that might depict otherwise. He’s also had assistant coach Gerry McNamara constantly in his ear, reminding him of everything he can do.“When I watch him play and I watch him late in games this year, he’s never afraid to make plays or make mistakes,” McNamara said after Thursday’s win. “To me, that’s being a leader. That’s taking responsibility. I’ve kind of just reassured him of that. I’ve told him over and over that he sets the tone for us.”Against Indiana, that tone was aggressiveness, and the Hoosiers couldn’t match it. Carter-Williams repeatedly sliced through Indiana’s defense, drove the lane through traffic, and made tough layups. When he had good looks on the arc, he knocked down big 3s.His four steals at the other end of the floor only added even more to his heroics.Carter-Williams’ final 3-pointer gave SU a 51-37 lead with just over nine minutes left in the game. As he dribbled the ball at the top of the key and directed his teammates on Syracuse’s next possession, the Orange’s fans began clapping and cheering for SU’s sure-handed leader.When the game was over, Carter-Williams went over to see his smiling mother, just five days after her heartache. On Thursday, Carter-Williams delivered a performance that elicited euphoria.“He’s been very aggressive for us, he’s knocking down some shots,” forward C.J. Fair said. “I’m glad he had his coming out party today at the right point in time.” Comments Facebook Twitter Google+ Published on March 29, 2013 at 2:48 am Contact Chris: cjiseman@syr.edu | @chris_isemanlast_img read more

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Tiger Woods to return to golfing career tomorrow

first_imgTiger Woods will make his return to competitive action tomorrow.The now world number eight-hundred-and-ninety-eight hasn’t played a tournament for 15 months because of injury.He’ll tee it up at the Hero World Challenge in the Bahamas this week. Golf writer Lawrence Donegan says if it this comeback doesn’t work out it’s hard to see him trying again.last_img

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