Niche market

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European Commission unveils sustainable finance legislative proposals

first_imgSpeaking at a press conference earlier this morning, Commission vice-president Valdis Dombrovskis said: “On climate change, we are running out of time.“The Titanic could not turn to avoid the iceberg at the last minute and we will soon be in a very similar situation.” Asset managers and other institutional investors who claim to have sustainability goals will need to show how their investments are aligned with these objectives under new rules proposed by the European Commission today.The information they would have to disclose would include the sustainability or climate impact of their products and portfolios.The requirements are part of a package of legislative proposals the Commission had promised when presenting its sustainable finance action plan earlier this year, aimed at harnessing the capital markets to help implement the international agreement on climate change that was reached in Paris in 2015.The Commission today said its proposals “will allow the financial sector to throw its full weight behind the fight against climate change”. © European Union, 2018. Photo: Georges Boulougouris EC vice presidents Valdis Dombrovskis and Jyrki Katainen arrive for the press conferenceUnder the proposed disclosure requirements, according to the Commission, “all financial entities that manage investments on behalf of their clients or beneficiaries will now have to inform them about how their activities are impacting the planet or their local environment”.The proposed regulation would also require asset managers, pension funds, and insurers to report on the procedures they have in place to integrate environmental, social and corporate governance (ESG) risks into their investment and advisory processes, and the extent to which these risks were expected to have an impact on financial returns.Exact requirements about the presentation and content of the information are to be set out via delegated acts, a special category of legislation that allows the Commission to specify the details of a law.European pension funds fought hard to keep delegated acts out of the revised IORP directive, arguing that EU harmonisation in the area of pension provision needed to be kept to a minimum.The Commission said its proposal for a regulation on the ESG duties of financial actors would introduce “consistency and clarity” on how institutional investors should integrate ESG factors into their investment decision-making process.It would mean “greater transparency towards end-investors, ensuring comparability between products and discouraging ‘green-washing’ or misleading information,” it added.  What is green, what is notThe Commission today also proposed a regulation “on the establishment of a framework to facilitate sustainable investment”. This concerns the creation of an EU-wide classification system, or taxonomy, to designate which economic activities could be considered environmentally sustainable or not.Dombrovkis said it was about setting out “what is green, what is not”.An EU-wide classification system was “a first and essential step in efforts to channel investments into sustainable activities,” said the Commission. It would address the problems of “greenwashing” and confusing fragmentation, which undermined investor confidence.The taxonomy could eventually serve as the basis for standards and labels for sustainable financial products, according to the Commission.Under the Commission’s proposal for a sustainability classification system, an economic activity would be considered environmentally sustainable if it met the following requirements:contribute to at least one of six EU environmental objectives, such as climate change mitigation and adaptation or the sustainable use and protection of water and marine resources;not significantly harm any of the other environmental objectives;be carried out in compliance with a number of minimum social and governance safeguards; andcomply with specific “technical screening criteria”The criteria are to be set out in delegated acts and be based on advice from a technical expert group that the Commission is establishing.EU ‘positive carbon impact’ benchmarkA third proposal put forward by the Commission would create a new benchmark category for low carbon and “positive carbon impact” benchmarks. These would “foster a generally accepted market standard to measure a company’s footprint and, in consequence, an investment portfolio’s carbon footprint,” it said.The Commission said this would tackle the risk of products not living up to their touted environmental credentials. Providers would have to respect minimum EU standards for methodologies when developing any new EU carbon benchmarks. A “positive carbon impact benchmark” would be the only type of benchmark deemed compliant with the Paris agreement’s goal of capping global warming at 2°C.Benchmark providers would be free to provide a spectrum of other carbon benchmarks with “a different degree of ambition with respect to meeting climate-related objectives”, said the Commission.The European Parliament and the European Council have to review and agree on all the proposals.last_img read more

TOKYO 2020 GAMES: Delta Programme on track – Ogba

first_img Others athletes in Delta Olympics Program are Blessing Okagbare, Ese Brume, Divine Oduduru and others. Ogba is optimistic that Team Nigeria will succeed in Tokyo, “Our performances in Tokyo will be better than our performance at the Rio 2016 Olympic Games. Delta State is determined to help our athletes do Nigeria proud. We have identified athletes that have the potentials to make podium appearance and we have started paying training grants since 2018, those that needed new coaches and training camp we have assisted them. We even employed phycologists and nutritionists for some of them, so I am confident that our athletes will win medals in Tokyo”. Read also:AFN Unveils 2020 Programme,Ready For Olympics Ogba also congratulated Tobi Amusan on her successful performance over the weekend. FacebookTwitterWhatsAppEmail分享 Delta State determination to ensure that her athletes made podium appearances at the Tokyo 2020 Olympic Games is on track according to Solomon Ogba the Chairman of Delta State Athletics. Ogba’s confidence is buoyed by the performance of Raymond Ekevwo in the 60m Indoor over the weekend. Ekevwo won the race in 6.53 sec, the fastest time in the NCAA this year. Ogba said the aim of the Delta State Olympics Program is to ensure that Nigeria made podium appearance at the games, “The task of ensuring that Nigeria succeeds in Tokyo is not what the Nigerian Olympics Committee (NOC) and the Sports Ministry can do alone, every state, clubs and other stakeholders in sports must work with the two organizations so that we can make podium appearances at the games”.Advertisementcenter_img Loading…last_img read more

Cabinet approves medical cover for COVID-19 frontline medics

first_imgThe medics are demanding the county government provides them with personal protective equipment, pay them their allowances and provide them with medical cover.Also Read  MOH told to vacate, fumigate schools ahead of reopeningKenya’s infections have been on a downward trend in the last three weeks even though the disease is still active.More than 16 health workers have so far succumbed to the virus while another 800 have been infected in the line of duty.Also Read  Noordin Haji reorganizes ODPP in renewed war on graftThe Cabinet that met Thursday lauded the workers for their commitment to duty during the pandemic.Other frontline staff including National Security Officers were also recognized by Cabinet for their sterling role in leading the Nation’s response to COVID-19.“As a measure of our Nation’s recognition of and pride in our frontline workers, Cabinet also approved the Comprehensive Insurance Cover for all frontline workers”, read the cabinet brief.The Cabinet chaired by President Uhuru Kenyatta also ratified a Memorandum of Understanding for the Provision of Health Personnel between the Republic of Seychelles and the Republic of Kenya.Also Read  Survey: Displaced persons profoundly hit by Covid“Under the Memorandum of Understanding, the Republic of Seychelles continues to facilitate the Kenyan Health Personnel serving there”Kenyan Health Workers have joined various programmes to support other nations in their fight against various pandemics.The government in May this year sent 50 health professionals attached to Kenyatta University hospital to Seychelles.Another team of over 100 medical personnel is helping DRC in the fight against Ebola. Healthcare workers can breathe a sigh of relief after the Cabinet approved a Comprehensive Insurance Cover for all those in the frontline against the COVID-19 pandemic. The health professionals have always decried lack of protection in the wake of the pandemic. Doctors and nurses particularly those working for public hospitals have downed their tools severally to demand better pay and benefits amidst COVID-19.Health practitioners are currently on strike in some counties, a situation that will negatively impact the gains made in the sustained fight against coronavirus. For example, health services have been paralyzed at the Mt. Elgon COVID-19 isolation center in Trans Nzoia County after health workers downed their tools citing failure by the County Government to address their plight.Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 20153last_img read more

NPFL: Sunshine Stars beat Abia Warriors

first_imgRelatedPosts NPFL: We are targeting 65 points this season, says Dogo NPFL: Dogo can’t sign for another club – Sunshine Stars Director NPFL: Three players sent off in second half, as Sunshine Stars beat Kwara United Sunshine Stars Football Club of Akure on Sunday defeated visiting Abia Warriors of Umuahia 1-0 in a Match Day 23 fixture of the Nigeria Professional Football League. The match, played at the Ondo State Sports Complex in Akure, saw Sunshine Stars’ forward Fuad Ekelojuoti scoring the lone goal in the 50th minute of the encounter. The News Agency of Nigeria reports that Sunshine Stars wasted several scoring chances in the match’s first half. Sunshine Stars’ Technical Adviser, Kabir Dogo, later said he was happy that his team had got back to winning ways. Dogo, who hailed the improvement in the visiting team since their meeting in the league’s first stanza, said his team’s dream of playing on the continent next season was still on. He said: “This is what we have been struggling to get since all these days. “Thank God we achieved it today with hard work from the players, fans and everybody. “I dedicate the victory to all the good people of the state. “There is a lot of improvement from Abia Warriors compared to what I saw in the first stanza of the season. “Any team battling relegation is always difficult to play. “Our continental target is still on course. “With the contribution of everybody, we can still achieve it if all the necessities are put in place.” On his part, the Acting Technical Manager of Abia Warriors, Wilfred Udube, said it was a good match for both sides. Udube said he was satisfied with the match’s first half and was not happy with the second half performance of his team. He said: “It was a good match but we lost. “The first half was okay but the second half was nothing to write home about.”Tags: Abia WarriosFuad EkelojuotiKabir DogoSunshine Stars FClast_img read more

Poyet hails Mannone heroics

first_img Sunderland’s winner came in the 25th minute via a penalty from on-loan Swansea midfielder Ki Sung-yueng, who had gone down in the box under a challenge from Tim Howard that earned the Toffees goalkeeper a straight red card. Despite having only 10 men from there, the hosts responded strongly and Mannone produced a series of impressive saves in the second half to help keep Everton at bay. Press Association Asked after the match what had made the difference for Sunderland, who are bottom of the Barclays Premier League and picked up all three points for the first time in seven fixtures, Poyet said: “Concentration, belief. “Maybe when nobody expects you to do something special, the players get together. “And our goalkeeper was outstanding. “Sometimes strikers get all the credit, but sometimes you need a goalkeeper to win you a game and today Vito probably won the game for us.” The build-up to the penalty being awarded saw Howard opt to play a short goal-kick to Leon Osman, who miscontrolled the ball. That allowed Ki to claim possession and dart into the area, where he fell to the turf when Howard came out to tackle him. Regarding that incident, Poyet said: “Everything changed with the mistake. “I always say that sometimes I like games without accidents, but that was a big accident for us to take advantage of. Sunderland boss Gus Poyet hailed keeper Vito Mannone for the string of saves that helped secure a 1-0 win against 10-man Everton. “Then, probably because of the situation we are in and probably because of how good Everton are, even with them having 10 men, we were just defending for our lives. “This is the best team we have played against, even with 10 men.” Fifth-placed Everton went into the contest unbeaten in 10 matches and having not lost a league game at home in the whole of 2013. Poyet added of the surprise Boxing Day triumph: “This is the best present you can ever give me, three points. “It is a good day. It was extremely difficult against 10 men, but football is incredible and you never know what is going to happen.” Due to other results, following this win for Sunderland – their first away from home this term and just their third overall in the league for 2013/14 – the gap between them and safety has only been reduced by one to three points. But it will have given their belief a huge boost as they continue in their quest for survival. For Everton, meanwhile, the encounter will go down as a useful learning experience according to their manager Roberto Martinez, who felt both Howard and Osman were at fault with regard to the goal. “We have very strong concepts for when a pass is on and what the decision will be when you receive the ball,” Martinez said. “Both players probably got their decisions wrong. But they are two players who have been reliable throughout the season, winning us so many points, and we are going to learn from this. “The real disappointment is that we were doubly punished, with a red card and a goal. But the referee was spot on – I think he made the correct decision. “We were then facing adversity and I couldn’t be prouder of the second-half performance. I thought we deserved an equaliser. “I think our performance in the second half was one of our strongest and we’ve learned a lot about ourselves. “For me, although we don’t have a point today, we have a stronger team going into the second half of the season.” Martinez confirmed Toffees forward Kevin Mirallas – who departed the pitch and headed down the tunnel for a few minutes in the first half, leaving his side with only nine men, before being substituted at the interval for Ross Barkley – had been feeling unwell. last_img read more

Spurs share points with United

Press Association Louis van Gaal, who succeeded the sacked David Moyes in the summer, had been hoping to end a fraught year on a high and continue United’s bid to regain a Champions League place. It was the first time United had named an unchanged starting XI since November 2012, in 85 Premier League games; curious timing given they had played fewer than 48 hours previously. United, who had not lost at White Hart Lane since May 2001, swept Newcastle aside in 53 minutes in the 3-1 win and had it not been for Lloris the visitors would have been out of sight at the interval. The Spurs goalkeeper saved twice from Radamel Falcao, Robin van Persie and Ashley Young and was complimented by opposite number David de Gea as the teams left the field at half-time. The one time Lloris was beaten Juan Mata’s deflected free-kick hit the post and Vlad Chiriches cleared the rebound off the line ahead of Van Persie. Van Persie and Mata fired over in a second half in which Spurs, who next play Chelsea, had the better openings without really testing De Gea as the match ended in a stalemate. United still have won only twice away from home this season and now go to Stoke on New Year’s Day hoping for a brighter 2015. Spurs, who made four changes following the win at Leicester, had a couple of scrappy half-chances before United took control. The first came after Wayne Rooney was dispossessed by Harry Kane, who threaded a pass through for Ryan Mason only for the midfielder to be squeezed off the ball. Rooney attempted to make amends by setting up Falcao, but Jan Vertonghen blocked and the Colombia striker then should have done better than shoot weakly at Lloris following Mata’s pass. Mata struck the post with a curling free-kick which flicked off the head of Ryan Mason, who was standing in the wall. Van Persie tried to tuck in the rebound, but Chiriches somehow scrambled clear. The offside flag saved Spurs when Phil Jones’ header appeared to cross the line before being hooked clear as United continued to build the pressure. Benjamin Stambouli and Andros Townsend were booked in quick succession for fouls on Michael Carrick and Young as Spurs temporarily, and illegally, stemmed the tide of attacks. Then Falcao shot meekly at Lloris after being found by Mata and Van Persie also had a chance but he was unable to control Carrick’s lofted ball inside the six-yard box. It was the sort of opportunity Van Persie usually makes look easy but he was thwarted by Lloris. Lloris would not be beaten from distance either, palming Young’s fine inswinging effort clear. Rafael replaced Antonio Valencia at half-time and Spurs resumed on the attack with Christian Eriksen’s effort ricocheting around in the United box before being thumped clear. Van Persie could only volley over from a Mata cross and he took out his frustrations on Vertonghen, pushing over the defender as the Belgian made a clearance. With the game meandering midway through the second half, Townsend tried to enliven proceedings, hitting a swerving shot which De Gea held. United were still creating – and spurning – good chances and Mata hopelessly fired well over from Rafael’s cross. Tottenham’s defence was shaky but so, too, was United’s. Townsend appealed in vain as he tussled with Young, already booked, for a through ball and De Gea saved from Federico Fazio. United switched to 4-4-2 with 15 minutes to go, including three substitutes in the back four as Chris Smalling and Luke Shaw came on for Jonny Evans and Paddy McNair to join Rafael and Jones. Spurs’ switches were more attacking but still they could not test De Gea. Kane robbed Carrick and found the overlapping Mason, but the midfielder could not keep his shot down. Hugo Lloris refused to be beaten as Manchester United finished an ignominious 2014 with a goalless draw at Tottenham. read more

Asia Cup India vs Pakistan Special Contest – Join now and win exciting prizes!

first_img For all the Latest Sports News News, Asia Cup News, Download News Nation Android and iOS Mobile Apps. New Delhi: India vs Pakistan is arguably the greatest cricketing rivalry in the history of the game. As fans gear up for the mega clash between India and Pakistan on September 19 in Dubai, News Nation brings you an exciting contest with lots of amazing prizes up for grabs. India will be eyeing revenge at Pakistan after their heart-shattering defeat in the ICC Champions Trophy final, while Pakistan will bank on their momentum to clinch a win over their arch-rivals. As the enticing clash awaits us, News Nation Special Contest for the mega clash between India and Pakistan offers many exciting prizes for its viewers and readers. To register for India vs Pakistan contest: Download News Nation App For Android – download the News Nation App from Play Store – Click HERE For iOS – download the News Nation App from iOS store – Click HERERegister your name and provide the required detailsParticipate in the special contestSit back and ENJOY!So are you ready to grab some amazing hampers and prizes?And team News Nation has already done some special pieces on the multi-nation tournament that is set to spin off on September 15, which might even better the overall experience of enjoying Asia’s biggest cricketing extravaganza. Here are some of them:India vs Pakistan | Check out these rivalry statsThe Tigers take on the Lions in campaign openerRohit and his records might lead Kohli-less India to trophy triumphTop 5 controversial moments from the previous editionHong Kong Cricket Team | All you need to know aboutWhy Virat Kohli has been rested? For more – Click HERE  last_img read more

J-D/CBA’s Block is sectional wrestling champion

first_imgAs area high school wrestlers battled for top honors during Saturday’s Section III Division I championships at SRC Arena, Jamesville-DeWitt/CBA would get a victory from Tyriq Block at 182 pounds.Block, who is from Solvay but wrestles under the J-D/CBA banner, was 30-4 to earn the no. 2 seed going into the sectional tournament.Then, as Block pinned Christian Kerfien (Oswego) in the quarterfinals and won a 4-2 semifinal battle with Fulton’s Cameron Lugo, top seed Tom Albright (Carthage) lost his semifinal to Rome Free Academy’s John Walston. However, Dauksza ran right into Fulton’s top seed, Camrin Galvin, in the finals, and Galvin would pin Dauksza in the second period. Still, Dauksza would sport a 34-7 record this winter.J-D/CBA also had Jackson Thomas claim fourth place at 106 pounds, while Matt Dougherty finished sixth at 99 pounds and Shoh Alibekov was sixth at 152 pounds.Anyas Goeman (132 pounds) lost in the quarterfinals, while Jacob Carlson lost in the opening round at 120 pounds and Corey Bauer did the same at 138 pounds.East Syracuse Minoa got its best finish at 160 from Aslan Abdulla, who lost to Galvin in the semifinals, but then beat Michael Strong (Fulton) and then outscored Watertown’s Gabe Lajoie 13-7 in the consolation bracket final.Andrew Crone was third at 195 pounds, pinning J-D/CBA/s Muaweyah El-Hindi to earn that placement, El-Hindi settling for fourth place after two previous wins as teammate Tohirjon Usmonov lost in the quarterfinals.Battling for third place at 170 pounds, F-M’s Sawyer Dereszynski beat ESM’s Ali Abdulla in a tense 5-4 decision as J-D/CBA’s Enver Bulatov got sixth place. The Hornets also had Liam Malgieri gain fourth place at 285 pounds, with the Rams’ Nikoli Sims sixth.At 138, the Spartans’ Alex Leo overcame a quarterfinal defeat and finished fifth when he pinned Indian River’s Ken Melton in 2:20.Ayden Johnson (126) lost in the quarterfinals, as did Mike O’Brian and Dylan Johnston at 145 pounds, where F-M’s Luke Richter took a first-round defeat. The Spartans’ Nick Modlewski lost in the first round at 152 and Max Wunderlich did the same at 220 pounds.Share this:FacebookTwitterLinkedInRedditComment on this Story Tags: ESMF-MJ-D/CBAwrestlingcenter_img So it was Block against Walston in the finals. Two different first-period takedowns put Block in control, and he added two more takedowns in the remaining two periods to defeat Walston 9-4 for his first sectional title and a berth in the Feb.28-29 state meet in Albany.Meanwhile, J-D/CBA’s Ethan Wells claimed a tough 3-2 semifinal over Liverpool’s Jacob Ianno to reach the finals at 126 pounds, only to get pinned by Indian River’s Logan Patterson in the title bout. In the quarterfinals, Wells beat his own teammate, Garrett Williams, with a 26-second pin.Up at 160 pounds, Fayetteville-Manlius senior Alex Dauksza made a spirited run to the championship round, pinning Jeremy Valerio (Liverpool) in the quarterfinals and then beating Chandler McAvan (West Genesee) 9-3 in the semifinals.last_img read more