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Fossil fuels ‘obvious losers’ in the energy transition

first_imgFossil fuels ‘obvious losers’ in the energy transition FacebookTwitterLinkedInEmailPrint分享Forbes:The super-rich will dedicate some $50 trillion to sustainable investments in coming years and blue chip Wall Street firms like Goldman Sachs GS and Carlyle Group are lining up to meet the demand. Utilities nationwide are pouring billions into solar and wind projects, in part to comply with their own creditors’ environmental demands. Corporations worldwide are cutting their carbon footprints and, in the background, bold-faced investors such as Norway’s $1 trillion pension fund and $7 trillion in assets BlackRock BLK are putting the screws on carbon-emitters. These are exciting times for the green movement.Boston-based hedge fund manager James Jampel, of $460 million in assets HITE Hedge Asset Management, has a simple way to play the green arms race. He’s betting against the entire carbon industry, which he believes is in chronic decline much like whip-and-buggy-makers at the dawn of the auto age, or Sears amid the rise of Amazon AMZN, and Eastman Kodak KODK when the electronic camera went mainstream. Basically, the writing’s on the wall for oilmen.When the OPEC’s price cartel was obliterated once more—this time by a March spat between Saudi Arabia and Russia at the absolute worst time—and oil fell to generational lows of $20 a barrel, HITE made a killing. Jampel’s $95 million HITE Carbon Offset Fund has gained 32% year-to-date, according to a source, while the S&P 500 index has fallen by about a quarter.“[L]et’s have the experts choose winners in the new green economy,” says Jampel, “It’s so much easier to bet against the obvious losers.”[Antoine Gara]More: A Different Kind Of Green Investing: Meet The Carbon Skeptic Hedge Fund That’s Up 32% In 2020last_img read more

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Wintergreen Lift Passes Week 5

first_imgWeek 4 is now over, which means here is week 5! For the next 4 weeks we will be giving away lift passes to Wintergreen Resort!Each week we will give away 2 weekday lift passes (valid Monday-Thursday) to one lucky individual, so 16 in total over 8 weeks.To sweeten the deal, we are also giving away a ColdAvenger Classic Fleece face mask (a $50 value) with the tickets!This contest is now over, but Week 6 is up and running!Rules and Regulations: Package must be redeemed within 1 year of winning  date. Entries must be received by mail or through the www.blueridgeoutdoors.com contest sign-up page by 12:00 noon EST on February 8th, 2013. One entry per person. One winner per household.  Sweepstakes open only to legal residents of the 48 contiguous United  States and the District of Columbia, who are 18 years of age or older.  Void wherever prohibited by law. Families and employees of Blue Ridge  Outdoors Magazine and participating sponsors are not eligible. No  liability is assumed for lost, late, incomplete, inaccurate,  non-delivered or misdirected mail, or misdirected e-mail, garbled,  mistranscribed, faulty or incomplete telephone transmissions, for  technical hardware or software failures of any kind, lost or unavailable  network connection, or failed, incomplete or delayed computer  transmission or any human error which may occur in the receipt of  processing of the entries in this Sweepstakes. By entering the  sweepstakes, entrants agree that Blue Ridge Outdoors Magazine and Wintergreen Resort reserve  the right to contact entrants multiple times with special information  and offers. Blue Ridge Outdoors Magazine reserves the right, at their  sole discretion, to disqualify any individual who tampers with the entry  process and to cancel, terminate, modify or suspend the Sweepstakes.  Winners agree that Blue Ridge Outdoors Magazine and participating  sponsors, their subsidiaries, affiliates, agents and promotion agencies  shall not be liable for injuries or losses of any kind resulting from  acceptance of or use of prizes. No substitutions or redemption of cash,  or transfer of prize permitted. Any taxes associated with winning any of  the prizes detailed below will be paid by the winner. Winners agree to  allow sponsors to use their name and pictures for purposes of promotion.  Sponsors reserve the right to substitute a prize of equal or greater  value. All Federal, State and local laws and regulations apply.  Selection of winner will be chosen at random at the Blue Ridge Outdoors  office on or before March 1st, 6:00 PM EST 2013. Winners will be contacted by  the information they provided in the contest sign-up field and have 7  days to claim their prize before another winner will be picked. Odds of  winning will be determined by the total number of eligible entries received.last_img read more

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Guatemala and Mexico Strengthen Joint Efforts to Secure Border

first_img Security patrols Mexican narco-trafficking organizations, which often form alliances with local criminal groups, operate along the countries’ shared border. The region is home to high levels of the illegal trafficking of people, drugs, and weapons, according to report La otra frontera con México ( The other border with Mexico) published by the Washington Office on Latin America (WOLA), a civil organization that promotes human rights. The WOLA report points out that the U.S. government estimates that up to 80 percent of the cocaine smuggled into the United States passes through Guatemala – and most of it crosses over the land border with Mexico. The meeting’s goal was to exchange information about criminal enterprises that occur along the nearly 1,000-kilometer border the two countries share. The Military officials discussed the importance of joint operations to fight illicit activities, as well as how to deploy Troops to the region for operations, what informal steps they can take to fight crime along the border, and how to carry out regional aerial reconnaissance. A Guatemalan team comprised of an officer, a sailor, seven Marines, and a motorboat belonging to the Jungle Special Operations Brigade worked with the Mexican Navy to carry out a joint reconnaissance patrol on the Usumacinta River from March 31st-April 2nd. “We are analyzing the importance of joint operations and the results of operations conducted as part of the fight to combat the trafficking of people, contraband, drugs, and livestock that happens in the blind spots on the Mexican border with other countries,” Brig. Gen. Montiel told Diálogo. Based on the each nation’s successful counter-narcotics operations, Military officials “agreed to increase the number of river and ground patrols as well as the amount of information exchanged concerning crimes committed in both the Guatemalan and Mexican departments along the border.” Authorities from Guatemala and Mexico recently met to increase the amount of information they exchange regarding security matters along their shared border and to strengthen joint river operations to combat organized crime. “Unmonitored piers, navigable rivers, clandestine airstrips, and land and water passes are the areas most utilized by organized crime gangs for their illegal activities,” Brig. Gen. Montiel said. “Drug trafficking, the smuggling of illegal substances, and other types of illicit activity are the main challenges facing the two countries’ Armed Forces.” On April 6th, Guatemalan Infantry Brigadier Generals Hugo Soto Arias, Commandant of the Jungle Special Operations Brigade Las Cruces, and Erick Rolando Montiel Aldana, Commander of the 1st Infantry Brigade Petén Santa Elena, welcomed Mexican Generals David Moreno Gutiérrez, Commandant of the 33rd Military Zone in Campeche, and Lorenzo Cano Jiménez from the 38th Military Zone in Tabasco, to the grounds of the Sixth Infantry Brigade in Playa Grande. Joint operations By Dialogo May 05, 2016 “In the last three years, Guatemala and Mexico have conducted 309 joint patrols,” Brig. Gen. Montiel explained. “The river border patrols are a way of strengthening the existing ties of friendship and cooperation between the two countries and their Militaries.” The goal of the joint patrol, which covered an area of about 50 kilometers, was to generate a peaceful environment for residents by preventing and neutralizing crime, the Guatemalan Army stated in an April 7th press release. The joint patrols and personnel exchanges are part of the Memorandum of Understanding between Mexico and Guatemala from the High Level Security Group (GANSEG) that was signed on August 26th in Mexico City. The agreement allows for the execution of concrete and effective operations of cooperation and coordination that contribute to a more prosperous and secure border. The GANSEG works together in six subgroups to address the principal border threats facing Guatemala and Mexico by concentrating on intelligence, fighting organized crime and improving public and border security, among other topics. The Brigades also conduct patrols along Guatemala’s border with Honduras and El Salvador.last_img read more

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Adapting member outreach strategies for continued COVID-19 impacts

first_img continue reading » No two credit union members will experience the economic impact of COVID-19 in exactly the same way. That’s why it’s so important for credit unions to adhere to the principles of segmentation and personalization when planning their approach to pandemic outreach.In addition to strategizing around individual members, credit unions must also think about the moment. As we travel through the various stages of COVID-19 (from reaction to recovery and, eventually, transformation), member needs will inevitably evolve. Two-way communication enriched by data insights will be critical for credit unions to provide the right outreach to the right members at the right time.Regardless of your credit union’s current level of analytics maturity, there are basic tenets of business intelligence you can tap into right now for relevant, meaningful assistance to members. Here are just a few ideas: ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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Turkey charges 20 Saudis over Khashoggi murder

first_imgTurkey has charged 20 suspects including two former aides to Saudi Crown Prince Mohammed bin Salman over the 2018 murder of Riyadh critic Jamal Khashoggi, prosecutors said on Wednesday.Prosecutors accuse Saudi Arabia’s deputy intelligence chief Ahmed al-Assiri and the royal court’s media czar Saud al-Qahtani of leading the operation and giving orders to a Saudi hit team. Khashoggi, 59, a commentator who wrote for The Washington Post, was killed after he entered the Saudi consulate on October 2, 2018, to obtain paperwork for his wedding to Turkish fiancee Hatice Cengiz. Mutreb, Tubaigy and Balawi had been among 11 on trial in Riyadh, during which sources said many of those accused defended themselves by saying they were carrying out Assiri’s orders, describing him as the operation’s “ringleader”.The Turkish prosecutor said a trial in absentia would be opened against the 20 suspects but did not give a date.The prosecutor had already issued arrest warrants for the suspects, who are not in Turkey.Khashoggi, a Saudi insider-turned-critic, was strangled and his body cut into pieces by a 15-man Saudi squad inside the consulate, according to Turkish officials. His remains have never been found.The CIA, UN special envoy Agnes Callamard and Turkey have directly linked Crown Prince Mohammed to the killing, a charge the kingdom vehemently denies.Topics : Turkey carried out its own investigation into the murder after being unhappy with Saudi explanations.The Istanbul prosecutor’s office said in a statement that Assiri and Qahtani were charged with “instigating the deliberate and monstrous killing, causing torment”.Eighteen other suspects — including intelligence operative Maher Mutreb who frequently travelled with the crown prince on foreign tours, forensic expert Salah al-Tubaigy and Fahad al-Balawi, a member of the Saudi royal guard — were also charged with “deliberately and monstrously killing, causing torment”.They face life in jail if convicted.last_img read more

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Qatar confirms first virus death among World Cup workforce

first_imgQatar has one of the highest per capita infection rates in the world with 3.3 percent of its 2.75 million population having tested positive.Most have since recovered with only 17,591 active cases reported in the latest official statistics alongside 104 deaths.”Sadly, on June 11, 2020, a 51-year-old specialist engineer employed by the contractor Conspel, tragically died after contracting COVID-19,” the Qatari organization responsible for organizing the 2022 tournament said in a statement.”He had worked on Supreme Committee for Delivery and Legacy projects since October 2019 and had no underlying health issues. We send our deepest condolences to his family and friends.” World Cup organizers in Qatar reported the first coronavirus death of a worker involved in construction of 2022 tournament venues on Thursday.A source close to the Qatari tournament organizers told AFP that 1,102 cases of COVID-19 had been confirmed among workers at tournament projects with 121 infections still active.First reported by the newly relaunched Doha News, a site popular among expatriates in Qatar, the victim was an engineer in his fifties who had no underlying medical conditions. Topics :center_img His nationality was not disclosed.The Qatari organizers reported the first infections among its workforce on April 15 with five cases across three stadium projects.Work continues at 2022 sites but has slowed to allow virus containment measures including screening and social distancing to be observed with Qatari officials saying preparations are nevertheless more than 80 percent complete.Organizers have removed all high-risk workers from projects on full pay, undertake temperature checks on workers twice daily, and imposed distancing rules in dining halls and staff transport to limit the virus’ spread. Construction at infrastructure to stage the tournament continued through the crisis even as Qatar halted non-essential retail and mosques, parks and restaurants closed.Qatar has begun a cautious reopening program with socially distanced worship permitted in some Mosques and non-essential retail permitted.Cafes and restaurants are due to reopen subject to strict controls from July 1.The timings of the competition, due to be held in November and December of 2022, remain unchanged by the coronavirus pandemic which has already forced the postponement of the European football championships and the Tokyo Olympics. Both will now take place in 2021.  last_img read more

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Dutch Dentists scheme opts for independence over insurance arrangement

first_imgSPT, the €1.8bn closed pension fund for dentists in the Netherlands, has ruled out transferring its assets to an insurer, instead preferring to remain as an independent entity. In the fund’s annual report for 2015, it argued that it still could serve its 3,125 participants and 3,920 pensioners through low provider costs and offering the option of indexation.Last year, the board decided to reject a quote of Aegon for insurance-based arrangements, as the offer was “not beneficial”, according to the scheme’s accountibility council (VO).The board, however, added that its wish to offer inflation compensation was a long-term goal, rather than something it was immediately able to act on. At April-end, the fund’s official policy funding level stood at 106.8%, after remaining around 108% over the course of last year.Under the rules of the new financial assessment framework (nFTK), partial indexation can only be offered once the policy funding level stands at 110% or above.SPT reported a positive result of 0.22% over last year, but added that it suffered losses on several hedging strategies, including its equity cover.As the value of its put options dropped as a consequence of rising equity markets, the pension fund had to accept a lower yield on stock.Combined with a loss on its currency hedge, the net result on equity was 3.4%, despite an actual return of more than 11%, an outperformance of 0.5 percentage points.SPT’s 21% equity portfolio has been fully and passively invested in global developed markets.It has fully hedged the risk on the six largest currencies, and lost on its cover as the main currencies appreciated relative to the euro.Meilof Snijder, the scheme’s temporary chairman, said the scheme lost 0.12% on its 77.1% fixed income holdings, which included a 9.8% stake in money market funds managed by BlackRock.This was caused by a 0.73% loss on its derivatives.The actual return of its fixed income holdings had been 0.61%, and, in particular, NN Investment Parters’ Fixed Income All Grade Fund outperforming its benchmark, according to the pension fund.At year-end, the dentists scheme was hedging the interest risks of 86% of its liabilities through government bonds and swaps.It said that, at this hedge level, a 2 percentage point rise in interest rates could cause its assets to drop by almost €350m.But as liabilities would also fall, its funding would remain “relatively stable”, SPT said, which has extended its contract with risk manager Cardano for developing and implementing its matching portfolio.Last year, SPT replaced NNIP for Lombard Odier as fiduciary manager and extended the mandate for custodian Kas Bank to include asset management reporting.The pension fund incurred 0.17% and 0.08% in asset management and transactions costs, respectively. It spent €236 per participant on pensions administration.last_img read more

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Fantastic Fiesolana bags Matron

first_img McCreery, a former Gaelic footballer and now an emerging force on the training scene, said: “I’m overcome. What a horse and what a ride. I thought she wasn’t going to get there, but she did. Billy was as cool as a cucumber and never panicked. “Billy was brilliant on her. I said to him to miss the break today, as she had been breaking brilliantly, and he missed it lovely. They went a sensible pace and she got into a bit of trouble, but it probably came at the right time. Billy is a cool rider and I said to him I’d rather he was beat than come too early. “You dream of this, but realistically it’s a Group One with the likes of Tapestry in there. “The Niarchos family had the faith to send her back to me (after buying the daughter of Aussie Rules for 960,000 guineas). It was a huge compliment and I’m glad I could repay them. “I can’t believe it and it’s great for her and for me. Patrick Cooper said to Alan (Cooper) to keep her in training this season as she’d win a Group One but at the start of the year she had an infection and we didn’t know if we would get her back. “She’s still improving. She’s hard to get fit as she’s a big, solid type. She’ll go for the Prix de la Foret now, presumably.” Officially running under the banner of Flaxman Stables Ireland, the Niarchos silks were first past the post in the 2012 Matron through the David Wachman-trained Duntle, but she was to lose the race in the stewards’ room to Sir Henry Cecil’s Chachamaidee. Already a multiple Group scorer, and placed at the highest level in last month’s Prix Maurice de Gheest, she quickened up at just the right moment for Billy Lee Wee Jean was half a furlong away from causing an enormous surprise for the Mick Channon stable but first the 7-4 favourite and eventual runner-up Rizeena threw down a determined challenge before Fiesolana squeezed past Tapestry and on to glory by half a length. Fiesolana gave Curragh trainer Willie McCreery his biggest winner to date when scooting through a gap in the Coolmore Fastnet Rock Matron Stakes at Leopardstown.center_img Press Associationlast_img read more

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Car Explodes in Royal Palm Neighborhood Blowing out Residents’ Windows

first_imgWhat was a car is now unrecognizable. https://t.co/JvSQ5Eg6rQ— WPEC CBS12 News (@CBS12) May 16, 2019 A Mercedes caught fire and exploded in the driveway after the driver, who was inside his home,  hit the keyless entry button which ignited a welding tank inside the car and the entire car exploded.Windows in nearby homes were blown out. Fortunately no injuries were reported. Residents are still reeling from a huge explosion last night in a Royal Palm Beach neighborhood.last_img

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Cricket News Rohit Sharma Achieves Special Century In Rajkot Twenty20 Vs Bangladesh

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: Rohit Sharma achieved a very special century during the Rajkot Twenty20 International between India and Bangladesh at the Saurashtra Cricket Association stadium on Thursday. When he won the toss and chose to field against Bangladesh, Rohit created history by breaking MS Dhoni’s record and becoming the first Indian player to play 100 Twenty20 Internationals. Overall, he is the second player after Pakistan’s Shoaib Malik to play over 100 T20Is, with Malik having played 111 matches for Pakistan in his career. This new milestone adds yet another feather to Rohit’s already record-breaking run in the format.Rohit is the leading six-hitter in Twenty20 Internationals, smashing 109 in 100 games. He is the only player to have hit four centuries in this format, having smashed 118 against Sri Lanka in Indore in 2017. During the Delhi match against Bangladesh, Rohit overtook Virat Kohli and became the leading run-getter in this format, surpassing Kohli’s tally of 2450 runs. The current India cricket team skipper is one of the select few to average over 30 and have a strike-rate close to 140.Following the Delhi loss, Rohit cited poor fielding and lack of judgement while going for the Decision Review System (DRS) calls which cost India the first T20 International against Bangladesh. Mushfiqur Rahim guided Bangladesh to their first ever T20 victory against India with an unbeaten 60 where a butter-fingered Krunal Pandya and an indecisive Rishabh Pant let the team down despite a par-score on a tricky Feroz Shah Kotla surface.”It was a defendable score, and we made mistakes on the field. The guys are a bit inexperienced, and they can learn from that, perhaps not make them the next time. The reviews (DRS) were a mistake from our side,” Rohit admitted during post-match presentation ceremony. However, Rohit gave credit to Bangladesh for winning it in a convincing manner. “Not to take credit away from Bangladesh. They put us under pressure right from the start when we were batting.”Also Read | Poor Fielding, Lack Of Judgement Cost India: Rohit After Shock Defeat Against BangladeshIt has been a remarkable journey for Rohit in Twenty20 Internationals ever since he made his debut for India during the 2007 World T20 in South Africa. His contributions in the series helped India win the 2007 World T20 for the first time and since then, he has gone from strength to strength.last_img read more

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