EC to propose legislation ‘clarifying’ investor duties on sustainability

first_imgThe action plan is designed to create a sustainable economy and achieve social and environmental goalsThis, according to the Commission, meant the investors might disregard or underestimate the long-term effects sustainability factors might have on the performance of their investments.It also said there was also a lack of transparency on how investors considered sustainability factors in their investment decision-making processes, which meant “their clients may not get the full information they need to inform their investment decisions”.The Commission cited the “unpredictable consequences of climate change and resource depletion” and the need for some €180bn of annual additional investment to achieve the EU’s climate change under the Paris agreement.This was why it was “setting out a roadmap to boost the role of finance in achieving a well-performing economy that delivers on environmental and social goals as well”.Presenting the sustainable finance action plan and other Capital Markets Union (CMU) measures today, Valdis Dombrovskis, vice-president responsible for financial stability, financial services and CMU, said the European Parliament and Council should now “accelerate” their work.He referred to getting the measures “across the finish line” before the next European Parliament elections, which are set for late May.Something for everyone? It wanted to clarify investors’ duties “to make sure they consider, in an appropriate manner, environmental, social and governance (ESG) issues in their investment decision process and are more transparent towards their clients”, it said.The Commission also cited the outcome of a consultation it carried out in 2016, saying this “suggested that institutional investors and asset managers do not necessarily consider sustainability factors and risks within their financial decision-making but tend to focus rather on financial factors and risks with a primary aim to maximise returns in the short-term”. The European Commission will put forward a legislative proposal to “clarify” investors’ duties regarding sustainability in May, it announced today.The measure is one of several key actions that form a keenly anticipated and wide-ranging action plan on sustainable finance from the EU executive.The plans are keeping with recommendations made by the High Level Expert Group (HLEG) that has been advising the Commission. Action on investor duties was recommended by the HLEG, with the Commission already having consulted on this last year. Today the Commission said institutional investors’ and asset managers’ duties on sustainability needed to be clarified because existing EU rules were not always clear or consistent. center_img Valdis DombrovskisIn line with the HLEG’s final report, the Commission’s plan contains actions addressing a range of actors in the financial system. Dombrovskis today spoke about changing “culture and incentives” across the investment chain.Besides the measure on investors’ duties, other actions in the plan include:Establishing an EU taxonomy, or classification systemEssentially the lynchpin of the action plan, this is about definiing what are environmentally and socially sustainable activities and identifying areas in which investment could make the biggest impact “so that capital flows toward activities that contribute to sustainable development”. The Commission will present a legislative proposal on the principles and scope of an EU taxonomy in May.Such a system would protect investors by “by avoiding risks of green-washing”, according to the Commission. It has published a call for applications from “technical experts” to form a group that will help prepare such a taxonomy, in addition to other tasks.Creating standards and labels for green financial products such as green bondsThese would be based on the above taxonomy and “allow investors to identify investments that comply with green or low-carbon criteria”.Tackling corporate reportingThe Commission said it would reinforce existing reporting requirements for issuers with regards to sustainability information. It would also amend guidelines on non-financial reporting and promote best practices, but said legislative changes may be required.Introducing sustainability and capital requirementsThe Commission previously mentioned reducing capital charges for banks if they financed sustainable activities or projects, but this idea of a “green supporting factor” met with strong opposition from some stakeholders who said it could weaken banks and potentially affect financial stability.Under the final action plan, the Commission said it would “explore the feasibility” of recalibrating capital requirements for banks for sustainable investments when justified from a risk and financial stability perspective.last_img read more

Watch: ‘Barely the size of my hand’ – Parents create moving video collage for miracle baby Clara born 23 weeks premature

first_imgTVNZ One News 4 September 2017Family First Comment: Yes folks – it is a human being!! But not according to Labour or Greens or ACT.“Doctors had warned her parents that she would face a raft of struggles. Little Clara is now six months old and weighs nine pounds.”WATCH & READ MORE:

100-day countdown to Dinagyang 2020 begins

first_img“Their short performance will give everyone an idea what a360-degree performance is going to be during the Dinagyang 2020,” saidDivinagracia yesterday. Guests from Manila attending the MICE event such as Sen. FranklinDrilon, Tourism secretary Bernadette Romulo-Puyat and former senator Bam Aquinowill also witness the kick-off of the Dinagyang countdown, according to CityTourism Office head Junel Divinagracia. Peñaflorida said the tribes’ choreography mush be such that theirperformances should face not only the grandstand but also the river. Dinagyang is the Hiligaynon word for revelry or merrymaking. Thefestival is Iloilo City’s version of the Ati-atihan celebrations widelyobserved not only in Panay Island but also in other parts of the country. Itmay not be as ancient as the one in Kalibo, Aklan but it is known more for itsparticipants’ impressive choreography and striking costumes that reflect theingenuity, craftsmanship and artistry of the Ilonggos. Each tribe will get a subsidy of P1.4 million. “We will take advantage of the river, a potential area foradditional seats from where more spectators could watch the presentations. Thejudges will be posted in all angles,” said Peñaflorida. A ceremony led by Mayor Jerry Treñas will be held at Festive WalkMall, Iloilo Business Park in Mandurriao district after the 10 a.m. officiallaunching of the MICE (Meetings, Incentives, Conferences and Exhibits) campaignat the Iloilo Convention Center. Eight tribes have so far confirmed to join the Dinagyang tribescompetition on Jan. 26, 2020. These competing groups are the following:* Tribu Panayanon of Iloilo City National High School (NHS)* Tribu Barriohanon of Bo. Obrero NHS* Tribu Dagatnon of Ramon Avanceña Memorial NHS* Tribu Salognon of Jaro NHS* Tribu Ilonganon of Jalandoni NHS* Tribu Paghidaet of La Paz NHS* Tribu Binhi of Melchor L. Nava NHS* Tribu Hugponganon of Tiu Cho Teg-Ana Ros Foundation Integrated School ILOILO City – Today starts the 100-day countdown to DinagyangFestival 2020. center_img DINAGYANG 2020 will be more experiential, according to the Iloilo City government. The festival is the city’s version of Ati-atihan celebrations widely observed not only in Panay Island but also in other parts of the country. It may not be as ancient as the one in Kalibo, Aklan but it is known more for its participants’ impressive choreography. IAN PAUL CORDERO/PN The main performance area is the Iloilo City Freedom Grandstand onMuelle Loney Street facing the Iloilo River. Contesting tribes would be required to choreograph theirpresentations in such a way that the dancers face the spectators from allangles during their performances. He also said tribe subsidies would be released by the citygovernment beginning this month. Dinagyang Festival 2020’s theme is “Perfect Vision: Celebratingthe Ilonggo Spirit in Honor of Senior Sto. Niño.”/PN IFFI president Atty. Joebert Peñaflorida said more tribes arewelcome to participate. Three winning tribes from this year’s edition of the festival(Ilonganon, Paghidaet and Panayanon) will perform at the countdown kick-off ceremony.last_img read more


first_imgBolivar has a pending arrest warrantfor violation of the Comprehensive Dangerous Drugs Act of 2002. “The goal is to sustain the gains ofthe PRO-6 in the revitalized campaign against illegal drugs, targeting theremaining drug personalities and groups in Panay and Negros islands, and theseinclude Bolivar,” said Malong. It is better for these targets tosurrender peacefully than resist the arresting policemen and die, saidPhilippine National Police acting director Police Lieutenant General ArchieFrancisco Gamboa during a visit to the PRO-6 on Christmas Eve. The Bolivar drug group operates mainlyin central and northern Iloilo province and parts of nearby Capiz. It is alsointo robbery and gun-for-hire services, according to the PRO-6’s Regional DrugEnforcement Unit. The goal, said Gamboa, is to arrestand jail the drug traffickers. Police units across the region arehunting him down, said Police Lieutenant Colonel Joem Malong, spokesperson ofthe Police Regional Office 6 (PRO-6).  The No. 1 target remains to be ErnestoBolivar, a resident of Barangay Guinacas, Pototan, Iloilo who has been inhiding since 2017. “With the cooperation of all policemen,the community and media, there’s no reason why we could not improve ourrating,” Pamuspusan said. To avoid detection, sources said,Bolivar has tapped the services of personalities whom the police are notfamiliar with. Police Lieutenant Colonel Joem Malong, spokesperson of the PRO-6. IAN PAUL CORDERO/PN Of the 30 drug suspects killed inpolice operations, Iloilo City had the most number at nine, followed byIloilo province (eight), Bacolod City (five), Negros Occidental (four), Antique(two) and one each in Antique and Capiz. For the 2020 targets, Malong did notdiscount the possibility that the number (150) could still change. Certainly, he said, a lacklusterperformance would cost a police official his post. But will the PRO-6 under Pamuspusanfinally succeed in arresting top drug suspect Bolivar?  PRO-6 was rated No. 6 among thecountry’s regional police offices from January to September 2019.center_img Sources further told Panay NewsBolivar has lots of money to buy protection from policemen and even businessmen. ILOILO City – This 2020 the PhilippineNational Police in Western Visayas aims to get the 105 remaining high-valuedrug targets it failed to neutralize in 2019. Included in these targets areelected public officials serving as drug protectors. Three PRO-6 directors beforePamuspusan tried but all failed to find Bolivar, 41, who became the region’stop drug target after the death in September 2017 of drug lord RichardPrevendido. They were Police Brigadier Generals Cesar Hawthorne Binag, JoseGentiles and John Bulalacao. Bolivar’s arrest and the campaignagainst illegal drugs remains a PRO-6 priority, according to Pamuspusan. Police data obtain by Panay News showed that in 2019 a totalof 922 high-value drug targets in Western Visayas were arrested, 100 could nolonger be located, 30 were killed in police operations, and 444 voluntarilysurrendered. According to Gamboa, he was satisfiedof the PRO-6’s performance under the leadership of Police Brigadier GeneralRene Pamuspusan. Malong said they were verifyingreports about the alleged protectors of Bolivar. Although he managed to escape frompolicemen trying to entrap him in a buy-bust operation at his house in BarangayGuinacas, Pototan on Nov. 9, 2016, he was charged. How effective the antidrug campaign iswill be part of the evaluation on regional police directors and other policeofficials, said Gamboa. Bolivar was believed to be a minion ofPrevendido and stepped up drug trafficking activities after his boss died in ashootout with policemen on Sept. 1, 2017 in Barangay Balabago, Jaro districthere. Of the 105 drug targets, 50 are inNegros Occidental, 32 in Bacolod City, 11 in Iloilo province, four in Capiz,three each in Antique and Iloilo City, and one each in Guimaras and in Aklan. “Basimay madugang or maymabuhin,” said Malong. The provincial government of Iloilo isdangling a P500,000 monetary reward to whoever could give information leadingto the arrest of Bolivar./PNlast_img read more

Ten-man City tame Tigers

first_img David Silva struck a superb long-range opener just four minutes after Kompany was shown a straight red card by referee Lee Mason for hauling down Nikica Jelavic who was through on goal. And after the visitors were forced to withstand fierce second-half pressure including a pair of penalty shouts involving substitute George Boyd, they sealed their return to second place when Silva sent through Edin Dzeko to make it two in the final minute. The home side’s frustration was evident in Elmohamady’s clumsy high challenge on Silva shortly afterwards, for which the Egyptian deservedly earned a booking from referee Mason, and it could have been more. David Meyler had the ball in the net in the 36th minute but was ruled offside, then Jake Livermore came close two minutes from the break with a low drive which flashed inches wide of a stretching Hart’s right-hand post. Hull continued to push in the early stages of the second half, a shot on the turn from Long stinging Hart’s hands and a free-kick from half-time substitute Sone Aluko wriggling under Toure and giving Jelavic a shooting chance. Meyler also tested with a header from a Huddlestone free-kick after Zabaleta was booked for a scything challenge on Meyler. Boyd, a replacement for Meyler, posed the City back-line a few problems and Javi Garcia had to be alert to pluck the substitute’s deep cross away from danger in the 67th minute. Two minutes later Boyd had a big penalty shout waved away by Mason after going through on goal and to appearing to trip over the out-stretched leg of Hart. As the frustration levels increased, Hart was given a stern telling-off by Mason for his angry reaction and moments later Boyd had another penalty appeal waved away after falling under Fernandinho’s challenge in the box. Fernandinho missed a good chance to double City’s lead in the 71st minute and McGregor pulled off a fine save to deny Dzeko three minutes from time. Dzeko finally got on the scoresheet in the last minute when Silva’s neat ball sent him through on goal and the Bosnian calmly slid City’s second past McGregor. It had been a far from straight-forward afternoon for City boss Manuel Pellegrini, who made two changes to the side beaten in Barcelona in midweek, including the expected absence of hamstring-injury victim Sergio Aguero. Heading into the game on the back of two successive defeats, City certainly looked skittish in the early stages, a first-minute Tom Huddlestone free-kick skimming the head of Ahmed Elmohamady in the box, then Jelavic cutting in the box past Martin Demichelis before Gael Clichy booted clear. It might have got worse for the visitors in the seventh minute, when Shane Long burst clear onto a Jelavic through-ball only to be pegged back for a marginal offside. And it did get worse three minutes later, when Kompany was dismissed for hauling down Jelavic as the Croatian looked to go clean through on goal. But the visitors did not take long to respond in style, Yaya Toure feeding Silva who curled his left-foot opener past Allan McGregor with 14 minutes on the clock. Hull shrugged off the setback and responded well, Long’s cross towards Jelavic made safe by a strong intervention from Demichelis, then a ball from the opposite flank by Elmohamady plucked from the air by Joe Hart. Mindful of their numerical disadvantage City seemed happy to contain their opponents and take their chances on the counter-attack, and it almost led to Pellegrini’s men increasing their lead just past the half-hour mark. Pablo Zabaleta let fly with a rising volley from the right side of the box which hit the underside of McGregor’s bar and bounced down not far from the goal-line before being headed away by Tigers captain Curtis Davies. Manchester City shrugged off the 10th minute sending-off of captain Vincent Kompany as they dredged up a 2-0 win at Hull to keep the pressure on leaders Chelsea at the top of the Barclays Premier League. Press Associationlast_img read more

Parish ‘not let down by Pulis’

first_imgCrystal Palace co-chairman Steve Parish does not feel let down by former boss Tony Pulis but expects to see him working again soon. Pulis stunned Palace by asking to leave his role as manager just two days before the season started, with Parish agreeing to his request. Former Stoke boss Pulis – who guided Palace to a miraculous escape last season – was reportedly unhappy with the way the club had done their transfer business in the summer. But although Parish is sad to see the Welshman move on, he is adamant he did the right thing by not stopping him from walking. “I can’t explain it, I’d love to be able to tell you everything that went wrong,” he told Match of the Day. “There was a good transfer budget agreed, there was a lack of targets that I think the manager felt was good enough in the window and it came to a point where he felt he didn’t want to carry on. “I can’t have people at the football club who aren’t 100 per cent committed to what we’re trying to do, so reluctantly I agreed to let him out of his contract. “I can’t be let down for what he achieved for us. He doesn’t owe us but we don’t owe him. He did a fantastic job for us but we are what we are. I got this club from administration to where we are now by taking decisions to create a positive environment. “If people don’t feel they can work in that environment then it’s fine for them to move on.” Caretaker boss Keith Millen is keen to be considered as a possible replacement for Pulis and Parish added that he is looking for someone with experience and who can start ahead of the end of the transfer window. Parish indicated the board are looking for someone with experience and who can start ahead of the end of the transfer window – with the likes of former Cardiff boss Malky Mackay, Tim Sherwood, who left Tottenham earlier in the summer, and ex-Celtic manager Neil Lennon among the reported candidates. And captain Mile Jedinak hopes the club act quickly to appoint a successor. He said: “We all know how important it is to get a manager instated at the football club. “For us it would be ideal (to be a quick appointment), but it is not up to us. “I am sure the guys above and powers at be know what they are doing and hopefully will get something ready for us in the not too distance future.” Press Associationlast_img read more

Riviera Beach man wins $1 million in CASH4LIFE game

first_imgA lucky 67-year-old man is now $1 million richer after winning the Florida Lottery’s CASH4LIFE Quick Pick raffle.Larry Clark of Riviera Beach was named the winner of the Lottery’s November 23rd multi-state game drawing.According to the report, Clark purchased the winning ticket from Grator Gator Food Market at 1245 Blue Heron Blvd.He was given the choice of receiving $1,000 a day or $1,000 week for the rest of his life. He was also given the option to take  a one-time, lump-sum payment of $1 million. Clark was said to have chosen the lump-sum payment.The Food Market that sold the winning ticket also received a $2,000 bonus commission for the sale.CASH4LIFE drawings are held every day at 9 p.m. at the New Jersey Lottery Headquarters.last_img read more

Himanta Biswa Sarma Elected Vice President Of Badminton Asia Council

first_imgNew Delhi: Badminton Association of India (BAI) President Himanta Biswa Sarma has been elected the Vice President of the Badminton Asia Council (BAC). The 50-year-old got 35 votes from a total of 40 polled on Saturday. “The BAI President is making his foray in the continental committee and we are sure it will help the BAI to get added support from the Asian body and work to develop badminton in the region,” said BAI General Secretary Ajay Singhania. BAC President Anton Subowo also appointed BAI Secretary (Tournaments) Omar Rashid as the Deputy Chairman of Badminton Asia’s Development Committee. IANSAlso Read: SPORTS NEWSlast_img read more

MBB : SU’s Midnight Madness to include ‘Legends’ scrimmage

first_img Published on October 12, 2011 at 12:00 pm Comments Facebook Twitter Google+center_img Fans that attend Midnight Madness will be treated to a ‘once in a lifetime’ experience, as Ed Levine put it. Many former Syracuse basketball stars — including four NBA players dealing with the league’s lockout — will return to take part in a ‘Legends’ scrimmage during the event.‘The saying ‘once in a lifetime’ gets tossed around a lot nowadays, but this truly may be a once in a lifetime,’ said Levine, CEO of Galaxy Communications, ‘when you’re seeing some of these players while they’re still active right in the middle of their NBA careers.’The ‘Legends’ scrimmage adds a unique component to this year’s Midnight Madness, which will take place Friday at 8 p.m. in the Carrier Dome. The event will also include scrimmages and drills by the current men’s and women’s basketball teams. Rapper Meek Mill will be the featured entertainment for the night.The event is free to the public. Students can pick up tickets with a valid Syracuse University ID at the Schine Student Center. An autograph and photo session with the players will take place from 7-8 p.m. Levine said the scrimmage will likely take place at about 8:30 p.m.The collection of former players will be divided into two teams and participate in a 10-minute scrimmage. Gerry McNamara, Hakim Warrick, Wes Johnson, Jonny Flynn, John Wallace and Roosevelt Bouie are just a few of the players that will participate. Derrick Coleman, Pearl Washington, Mike Hopkins and Billy Owens will serve as honorary coaches.AdvertisementThis is placeholder textLevine said the event will showcase the proud history of Syracuse basketball.‘This is an elite program,’ Levine said. ‘This is a top-five program, and I don’t think we stick out our chest enough sometimes and say Syracuse University basketball is as big as it gets. There is none bigger, and I think this night will prove that.’The event was a collaborative idea of everyone involved in the event, including men’s basketball head coach Jim Boeheim, Levine said.Levine could not definitively say whether or not Carmelo Anthony would be in attendance, but said he expects Anthony to be there. Levine said the event has received a positive response from former players and more players could get involved.‘You’re going to see family through the generations,’ Levine said. ‘Rosie Bouie representing the ‘70s, Derrick Coleman representing the ‘80s, John Wallace representing the ‘90s, Gerry McNamara representing the 2000s. It’s almost 40 years of Syracuse basketball will be represented on that court on Friday night.’adtredin@syr.edulast_img read more

MLAX : Wardwell shakes off slow beginning to produce quality outing in 1st career start

first_img Facebook Twitter Google+ Published on April 7, 2012 at 12:00 pm Contact Chris: | @chris_iseman Before he could even settle into his place between the pipes, Bobby Wardwell was down three goals. Princeton was taking shots aggressively, sending bullets past him that he could barely even react to. In his first minutes of collegiate action, the freshman was understandably unnerved.But after those three unanswered Tigers goals, Wardwell found a comfort zone and made it a challenge for Princeton to score.‘I was pretty rattled after they hit the first couple pipes,’ Wardwell said, ‘but the rest of the team kind of calmed me down, and we all got back into it.’The revolving door of Syracuse’s goaltenders spun once again, and this time, it was Wardwell’s turn to take his place in the cage. Wardwell was charged with stopping Princeton’s formidable scoring attack as Syracuse tried to snap a two-game losing streak. Though he got off to a shaky start, Wardwell made all the necessary saves to preserve Syracuse’s lead in the Orange’s (5-4, 2-1 Big East) 10-9 win over the Tigers (6-3) on Saturday. He finished with nine saves and became a dominant force at times as the game wore on.Wardwell found out he would be starting on Thursday, joining Dominic Lamolinara and Matt Lerman as goalies to earn the opportunity this season. SU head coach John Desko has included Wardwell in the competition in goal all season, but he had yet to give him a chance to prove himself.AdvertisementThis is placeholder textSo on Saturday, Wardwell finally got the call.‘We like to evaluate the guys during the week, but we felt we had a pretty good read on Dom and Matt, and we thought we knew what we were going to get out of them if they were in the game,’ Desko said. ‘We thought that if we were going to try Bob, this was the time to do it this far along in the season.’The Tigers went ahead 3-0 early, catching Wardwell off guard with all three scores. The freshman was either late moving to the side of the goal where Princeton shot or didn’t throw his stick up in time to make the save.On the third goal, Tigers midfielder Tom Schreiber dodged SU defender Matt Harris and ripped a low shot into the goal with 7:33 left in the first quarter. Wardwell never had a chance to try and make the save, and the freshman then walked around in the crease for a few moments with his head down.Syracuse’s defense reconvened and gave Wardwell an impromptu pep talk. As a team, SU’s offense and defense settled in, but it was Wardwell’s performance that was the most significant.‘Bobby’s got a hard head on his shoulders,’ defender Brian Megill said. ‘He lets things go right away. It’s a real testament to him and being a freshman and all.’Still, Wardwell had the occasional hiccup.At 2:31 in the first quarter, Princeton midfielder Jeff Froccaro tried to dunk the ball high into the net, but Wardwell got his stick up in time to deflect it. But he tipped it right behind him, and then couldn’t find it. The ball slowly rolled into the net to give the Tigers a 4-2 lead.Just more than one minute into the second quarter, though, Wardwell made a critical man-down save on a hard, 20-yard shot from Tigers midfielder Tucker Shanley.‘We talked about adjusting as the game wore on because he made a lot of saves high,’ Princeton head coach Chris Bates said. ‘We had a lot of opportunities. He stood tall in his first college game. I give the kid a lot of credit.’Wardwell’s biggest saves came in the second half. He made two huge fourth-quarter saves to preserve a 9-9 tie, and after the Orange took a 10-9 lead, Wardwell made what was his marquee save of the game.With SU down a player after a penalty on defender David Hamlin, Schreiber shot high, but Wardwell quickly threw his stick up and caught the shot to keep Syracuse’s one-goal lead.As the game went on, Wardwell improved and became an increasing force between the pipes, culminating in that save. For a freshman in his collegiate start, Wardwell certainly didn’t hurt his chances of seeing more time in the net.‘They hit a couple pipes early, and some guys would maybe not get better as the game went on, and he got better as the game went on,’ Desko said. ‘… I think it showed his mental toughness today.’cjiseman@syr.educenter_img Commentslast_img read more