Australian pension fund Cbus targets carbon-heavy coal and gas investments

first_imgAustralian pension fund Cbus targets carbon-heavy coal and gas investments FacebookTwitterLinkedInEmailPrint分享The Guardian:Construction and mining industry super fund Cbus says it will slash emissions from its investments by 45% within the next 10 years, putting carbon-intensive companies on notice that they will need to demonstrate how they will cut greenhouse gas emissions in order to stay within the fund’s $54bn portfolio. Cbus has also expanded an existing pledge to hit the Paris agreement target of zero emissions by 2050 in its property and infrastructure investments to cover its entire portfolio.Its chief investment officer, Kristian Fok, stopped short of ruling out any investment in new thermal coalmining but said any such business would face an extremely high hurdle to attract Cbus’s money.“I’m not going to rule out anything, but the hurdles are going to be so high for these things, because the way we would see it is that it would have to be highly competitive against the alternatives,” he said. “Basically, we now have a [carbon] budget in our portfolio, so it would have to be more compelling than something else.”Institutional investors such as pension and superannuation funds have been ratcheting up the pressure on big emitters, such as mining companies, to slash their carbon output.In April, Norway’s US$1.1tn Government Pension Fund Global, one of the world’s biggest investors, put BHP on notice that it needed to get out of thermal coal or the fund would dump its stock in the company. At the same time, it announced it had sold its stake in Australian energy company AGL, which owns coal-fired power stations including the carbon-intensive Liddell plant in New South Wales.Asked if Cbus would be willing to take shares in a BHP coal spin-off, Fok said the new framework wouldn’t stop the fund from doing so. “But what it does make us look very carefully at is what price we’re paying for it,” he said. “In relation to thermal coal, we would look at it in relation to the global economy. But it’s quite clear the lifecycle of thermal coal is shorter than the next fossil fuel, which is gas – but the lifecycle of gas is shorter than what it used to be as well.”[Ben Butler]More: Construction and mining industry super fund puts carbon-intensive companies on noticelast_img read more

The 20 fears that are keeping you from being rich

first_imgQuickly: Who’s afraid of getting rich? Come on, let’s see those hands.Let’s rephrase the question. Are you the kind of person who trips themselves up routinely? Or loves to blame the economy? Or tracks Powerball numbers the way Warren Buffett tracks the stock market?Your fears, ignorance or stuck behavior might stand in the way between you and wealth. You don’t see yourself as afraid of riches — but in reality, you might well be.Here are 20 reasons why you’re fearful of getting rich (and we don’t mean the dread of finding a reliable chauffeur) — along with some sound advice on what you can do about them. continue reading » 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

Allardyce relaxed on new contract

first_imgSam Allardyce insists he is not worried about being offered a new contract at West Ham despite his current deal expiring at the end of the season. “It’s been a big bonus with the new players hitting the ground running, producing quality form straight away. “Every new signing has made a really good contribution – it’s lifted the rest of the team, increased the quality and energy.” Allardyce continued: “We have a good environment. My early days with Bolton taught me not to just think about the player – think about the family and how you integrate them into the culture. “It’s hard to do, particularly if they don’t speak English well. T hat’s been one help we’ve had – the environment here is a happy one and one where everyone is accepted.” The Hammers are aiming for their fourth win in five games on Saturday but face a tough test at home to reigning champions Manchester City. City thrashed Tottenham 4-1 last weekend and if the Hammers are to avoid a similar fate they will need to stop Sergio Aguero, who hit four against Spurs and another in the Champions League on Tuesday. “He has been plagued with a few injures in the World Cup and in the early season for Man City but you saw a fully fit Aguero last week,” Allardyce said. “Not only did he score four but he missed a penalty so he could have had five. Sometimes you have to say he’s just unstoppable. “We’ve got to try to focus on limiting service to him – the lads in front of the defence can make life difficult. “That’s the key element to keeping him quiet because he can receive the ball even when he’s marked and wriggle free. He’s a fantastic finisher.” Press Association Allardyce signed a two-year extension to his contract in May 2013 but the former Bolton boss is happy to wait before committing his future again. “The conversations are the same as they were in the first year in the Premier League – we’ll see how the season progresses and when the time is right,” Allardyce said. “If it has progressed to a certain level that they want to offer me a new contract, that’s fine. “At my age it doesn’t particularly worry me a great deal. Contracts are made and broken in the entire football industry – i t doesn’t mean anything like it used to because a long or short contract doesn’t protect you. “It’s a winning culture you need – if you continue to win, you improve the club.” West Ham’s strong start owes much to the form of their summer signings who have adjusted quickly to the pace of the English top flight. Diafra Sakho has scored five goals in as many games but the likes of Enner Valencia, Mauro Zarate, Alex Song and Aaron Cresswell have all made valuable contributions. “Is this the best team I’ve had here? It looks like it,” Allardyce said. Allardyce led the Hammers to promotion from the Championship two years ago and the team have enjoyed an excellent start to their third campaign in the top flight, sitting fourth in the Barclays Premier League table. West Ham’s form will be particularly satisfying for Allardyce, who was criticised by Hammers fans last season and appeared to have been ordered to impose a more attractive style of play by the club’s co-owners David Gold and David Sullivan in a statement from the pair earlier this year. last_img read more

Update on the latest sports

first_img— Rockets guard and league scoring leader James Harden practiced with his team Thursday for the first time in more than four months. He explained that his arrival at the league’s restart bubble at Walt Disney World was delayed by family issues. Harden came to Disney earlier this week, satisfied his league-mandated quarantine requirements and got cleared to participate. He has been working out but said it was his first time playing actual 5-on-5, contact-laden basketball in more than a month.VIRUS OUTBREAK-NCAANCAA sets COVID guidelines for footballUNDATED (AP) — The NCAA has released its latest guidance to help member schools navigate competition during the coronavirus pandemic, and they come as the prospects of actually playing look grim. The NCAA says college football players should be tested for COVID-19 at least 72 hours before a game, players with high-risk exposures should be quarantined for 14 days and everybody on the sideline should wear a mask. COLLEGE BASKETBALL-STANDARDIZED TESTSCoaches want NCAA to cut SAT, ACT from eligibility standardsDES MOINES, Iowa (AP) — Men’s and women’s college basketball coaches are proposing the NCAA eliminate standardized testing requirements from initial-eligibility standards. The coaches call exams such as the SAT and ACT “longstanding forces of institutional racism.” The proposal comes out of the new committee on racial reconciliation formed by the National Association of Basketball Coaches in response to the Black Lives Matter movement and other social justice initiatives. Associated Press PGAWoods gets used to silence at Muirfield VillageDUBLIN, Ohio (AP) — Tiger Woods got his first taste of playing competitive golf without adoring admirers since the coronavirus pandemic caused the PGA to hold tournaments without spectators.Woods received near-dead silence as he opened and closed with birdies en route to a 1-under 71 in opening-round play at The Memorial. He’s five strokes behind leader Tony Finau (FEE’-now), who birdied seven of his final 10 holes for a 66 that puts him one ahead of Ryan Palmer.Muirfield Village is the first club in 63 years to host back-to-back PGA events. Collin Morikawa won there last weekend at 19-under, beating Justin Thomas in a playoff. The two-time Cy Young Award winner says he feels good two days after leaving an intrasquad game early because of back tightness. A precautionary MRI came back clean, and deGrom thinks he simply might have slept “wrong” the night before. However, skipper Luis Rojas says the team is taking a day-to-day approach concerning a season-opening assignment as deGrom receives treatment.In other major league news:— Tampa Bay outfielder Austin Meadows has been placed on the injured list after testing positive for the coronavirus. Meadows was a first-time All-Star and batted .291 with 33 homers and 89 RBIs last season.— Yankees hurler Masahiro Tanaka threw a 30-pitch bullpen session Thursday. It was his first mound appearance since he was struck by a line drive off the bat of teammate Giancarlo Stanton on July 4. The 31-year-old right-hander remains uncertain for his first turn through the rotation. Update on the latest sports LAKE BUENA VISTA, Fla. (AP) — The New Orleans Pelicans say top overall draft choice Zion Williamson has left the club to attend to an urgent family medical matter. The Pelicans say Williamson intends to rejoin the team in the Orlando area for the resumption of the season. But the club has not said whether the former Duke star would be able to return or whether he’ll miss any games because of his departure on Thursday. Williamson will have to quarantine again when he returns to Central Florida. Williamson has averaged 23.6 points and 6.8 rebounds in 19 games this season after missing the New Orleans’ first 44 games while recovering from preseason arthroscopic knee surgery.Also around the NBA: Share This StoryFacebookTwitteremailPrintLinkedinRedditMLB-NEWSDeGrom still plans to pitchUNDATED (AP) — New York Mets ace Jacob deGrom wants to start opening day, but his manager isn’t sure that will happen. LPGA TOURBoth Ohio events on LPGA schedule to be played without fansSYLVANIA, Ohio (AP) — The LPGA will be without spectators when it hosts two events in Ohio, the first since play was shut down by the coronavirus. The tour resumes with the LPGA Championship at Inverness on July 30 before heading to Sylvania, Ohio, for the Marathon Classic. LPGA Commissioner Mike Whan said there was a chance the tournament would cap attendance at 2,000 spectators. But after talking with county and state officials, the Marathon Classic decided to go without fans.TENNIS-WILLIAMScenter_img — Cubs pitcher Kyle Hendricks will be the opening day starter against the Brewers next Friday. Hendricks gets the nod over Yu Darvish, who will pitch the second game. Hendricks has been one of Chicago’s most consistent starting pitchers since his big league debut in 2014, going 63-43 with a 3.14 ERA in 163 games.— Mets second baseman Robinson Canó (kah-NOH’) is back with the team after missing a few days because of personal issues. The 37-year-old Canó said he wants to keep the reasons for his absence to himself, telling reporters he worked out during his absence. He is hoping to be ready for opening day.— Star third baseman Yoán Moncada has rejoined the White Sox after missing the start of their summer camp. Long regarded as one of baseball’s top prospects, he broke out last season when he set career highs with a .315 batting average, 25 homers and 79 RBIs. He’s currently on the injured list with an unspecified injury.— Top Mariners prospect Julio Rodriguez has suffered a hairline fracture of his left wrist during a practice. The 19-year-old dived for a ball during a defensive drill and jammed his wrist. Rodriguez has been rated among the top 20 prospects in all of baseball heading into the season. — Major League Baseball will play crowd noise from its official video game through ballpark sound systems during actual games while fans are ordered to stay away. Stadium sound engineers will have access to around 75 different effects and reactions, according to MLB. The top soccer leagues in England and Spain were the first to return to action with crowd sound from video games. NCAA President Mark Emmert said that if there is to be college sports in the fall, they need to get a much better handle on the pandemic.Elsewhere in college sports:— The Mid-Eastern Athletic Conference is the third Division I league to postpone its football season, joining the Ivy and Patriot Leagues. The MEAC (MEE’-ak) said it will consider trying to make up the schedule for those sports in the 2021 spring semester. The MEAC is comprised of 11 historically black colleges, although three of those schools plan to leave the conference.— The West Coast Conference will delay the start of fall competition in all sports until Sept. 24 because of the coronavirus. The league said Thursday that the affected sports are cross country, soccer and volleyball. The decision doesn’t apply to sports which aren’t sponsored by the league, including BYU and University of San Diego football.— The University of Northern Colorado has suspended athletic workout activities after a spate of positive cases of COVID-19, including among football players who have been advised to quarantine. There is no timeline for when the student athletes will be allowed to return to voluntary workouts at the campus about an hour north of Denver. American sprinter Stevens banned 18 months for missed testsGENEVA (AP) — Olympic finalist sprinter Deajah Stevens has received an 18-month ban for missing doping tests and will miss the Tokyo Games. The Athletics Integrity Unit says Stevens was unavailable for giving samples three times in 2019 in Oregon and West Hollywood. Three whereabouts violations within one year can lead to a ban. The 25-year-old American runner’s ban was backdated to start on Feb. 17, 2020. It expires days after the postponed Tokyo Olympics in August 2021. July 17, 2020 Serena plans to compete next monthLEXINGTON, Ky. (AP) — Serena Williams is planning to make her return to competition at a new hard-court tournament in Kentucky next month.It’ll be the 23-time Grand Slam singles champion’s first action since playing for the U.S. in the Fed Cup in February, before all sanctioned tennis was shut down the next month because of the coronavirus pandemic.The women’s and men’s professional tennis tours are scheduled to resume in August.NFL-WASHINGTON-MISCONDUCT DC team owner hires law firm amid allegations of workplace misconductUNDATED (AP) — Owner Dan Snyder has hired a District of Columbia law firm to review the Washington NFL team’s culture, policies and allegations of workplace misconduct.The Washington Post reported Thursday that 15 female former employees said they were sexually harassed during their time with the team. The team issued a statement saying that “While we do not speak to specific employee situations publicly, when new allegations of conduct are brought forward that are contrary to these policies, we address them promptly.”Three members of the front office have left the organization within the past week.MISSED TESTS-STEVENS — Former Phillies infielder and coach Tony Taylor has died at 84. The Phillies said in a statement that Taylor died Thursday from complications of a stroke suffered in 2019. The 1960 NL All-Star batted .261 with 2,007 hits, 1,005 runs and 234 stolen bases in 2,195 career games. Taylor was inducted into the team’s Wall of Fame in 2002.— The Blue Jays have been given clearance by Ontario and Toronto to play regular-season games in Rogers Centre amid the coronavirus pandemic, although they wait approval from Canada’s federal government. Toronto Mayor John Tory said he urged the federal and provincial governments to approve MLB plan. Major League Baseball needed an exemption to a requirement that anyone entering Canada for nonessential reasons must self-isolate for 14 days. — A coalition of health department leaders in major American cities are cautioning Major League Baseball to avoid risky behavior when the season resumes next week. The Big Cities Health Coalition made some recommendations about procedures to follow when the baseball season resumes July 23. They range from proper handwashing stations to only traveling on charter flights.NBA-NEWSWilliamson leaves team for family matterlast_img read more