Category: effbrdfv

PGGM works on improving impact investment metrics

first_imgHe added that PGGM already has monitored many areas, such as production of healthier food, but that companies sometimes were unable to produce the relevant data.PGGM wants to involve approximately 40 companies earmarked as providing solutions, because of their positive impact on environment, water, food or health, the focus points of PFZW’s policy for impact investing.At the moment, PGGM has combined impact investments in listed companies of €1bn for PFZW, whereas the asset manager’s total stake in investments in such solutions stands at €9bn.Impact investments and measuring their effect are to play an increasing role in PGGM’s investment policy, as noted by Piet Klop, the manager’s senior advisor, responsible investments. Speaking as the Global Impact Investing Network launched a report on the business value of impact measurement, Klop said that measuring impact had numerous benefits, including motivating PGGM’s staff, but also allowing its clients to demonstrate how pension savings were being used for societal good.”PGGM sees impact measurement – and its standardization – as an important step towards the impact we are really after: signaling to our peers, our investees and the market as a whole that institutional investors are interested in positive, tangible impacts and that those impacts can be brought about at market-rate returns,” he said.PGGM aims to have deployed €20bn into the area by in 2020. The €200bn Dutch asset manager PGGM is to work with a local provider of social impact management metrics to boost its understanding of the social impact of its portfolio.To date, the Amsterdam-based provider, Sinzer, has largely worked with Dutch charities and family offices, but its work with PGGM comes after the manager’s main client, the €179bn PFZW, pledged to quadruple its exposure to sustainable investments – including investments meant to improve food security and combat food scarcity. Cedric Scholl, corporate trainee at PGGM said: “The co-operation with Sinzer enables us to improve registration of impact data reported by companies.”According to Scholl, PGGM will work on new metrics for impact measurement, “including reduction of the carbon footprint or the amount of water saved by new technology”.last_img read more

​Crisis measures to cut Finnish pensions contribution income by €1bn

first_imgThe organisation – which is the central body of Finland’s statutory earnings-related pension scheme – said the employer contribution reduction would be fi­nanced by the system’s economic and monetary union (EMU) buf­fer, whose purpose is to maintain employers’ social security contributions during the crisis.But Kian­der warned contribution income was also set to decrease significantly this year due to job losses, with the Finnish Centre for Pensions expecting to see around 300,000 employees laid off for different durations during the first half of this year.He also said the ear­nings-re­la­ted pen­sion sys­tem has been wea­ke­ned by falling share prices amid turbulent market conditions, which had con­si­de­rably re­duced pen­sion pro­vi­ders’ sol­vency buf­fers.Population projections resulting from the pandemic were likely to leave their mark on the pension system as well, he said.“The emergence of a pandemic and the increase in mortality are factors that may affect estimates of an increase in life expectancy. On the other hand, it is not impossible for the coronavirus crisis to have a positive effect on birth rates,’ he said.To read the digital edition of IPE’s latest magazine click here. Moves by the Finnish government to help businesses cope with the immediate economic fallout of the coronavirus outbreak will wipe out €1bn of contributions to occupational pension providers this year, and the sector faces other potential hits too, according to the Finnish Centre for Pensions.The government has temporarily lowered earnings-related pension contribution requirements from employers by around 2%, and allowed businesses unable to operate during the crisis to postpone contributions completely for up to three months – a measure agreed with la­bour-mar­ket organisations, it said.Jaak­ko Kian­der, director of the Finnish Centre for Pensions in charge of research, statistics and planning, wrote in an analysis article: “The measures which have been decided upon will reduce the premium income of pension institutions by about €1bn for the current year.”This loss would be made up for by rai­sing emplo­yer cont­ri­bu­tions in 2022–2025, he said, in a new publication from the centre.last_img read more

Nigerian court decides in favor of NLNG in NIMASA dispute

first_imgThe Federal High Court sitting in Lagos delivered judgment in favor of Nigeria LNG in the case between the company and Nigerian Maritime Administration and Safety Agency (NIMASA) over the applicability of NIMASA levies.NIMASA had alleged that NLNG was liable to pay three percent gross freight on its international inbound and outbound cargo, Sea Protection Levy, two percent cabotage surcharge on all activities carried out for and on its behalf, as well as other sundry claims, all of which NLNG disputed.The court held that NLNG was not liable to make the said payments to NIMASA, and that all such payments already made by NLNG to NIMASA should be refunded to NLNG forthwith.  held that NIMASA was wrong in blockading the Bonny channel for the purpose of enforcing the payments against NLNG.In addition, the court held that NIMASA was wrong in blockading the Bonny channel for the purpose of enforcing the payments against NLNG.NLNG, in 2013, filed the case at the Federal High Court against NIMASA, seeking a judicial determination on, among other things, the legality or otherwise of the levies sought to be imposed on NLNG by NIMASA, and the consequent blockade of the Bonny channel by NIMASA and its agents as a result of the dispute.NLNG had also sought a Court Order restraining NIMASA from further blockade of the channel. An Interim Injunction granted in favor of NLNG by the Federal High Court was disobeyed by NIMASA, which again effected a blockade of the Bonny channel for over a three week period whilst the matter was pending, thereby preventing NLNG vessels and other vessels doing business with NLNG, from entry and exit through the channel.NIMASA had filed a counterclaim restating its supposed entitlement to receive payment of the levies from NLNG.However, the Federal High Court judgement reinforces NLNG’s position that by the provisions of the applicable laws, the company is not subject to payment to NIMASA of the three percent gross freight as well as the Sea Protection Levy, and that the two percent Cabotage Levy is inapplicable because NLNG’s LNG vessels are not involved in coastal trade or cabotage.last_img read more

Samsung Heavy to Ink USD 195 Mn Deal for LNG Carrier

first_imgSouth Korean shipbuilder Samsung Heavy Industries (SHI) is to sign a contract for the construction of a 180,000 cbm liquefied natural gas (LNG) carrier. The deal, worth KRW 210 billion (USD 195 million), is expected to be concluded by the end of this year, SHI said in a statement.Although the name of the company which ordered the ship was not disclosed, SHI said it is a “foreign company”.This year, SHI secured a total of 28 orders worth USD 6.9 billion, exceeding its annual order target of USD 6.5 billion.SHI said it will close the year with orders including eight oil tankers, seven shuttle tankers, six containerships, five LNG carriers, one floating production unit (FPU) and one LNG floating storage and regasification unit (FLNG).World Maritime News Stafflast_img read more

Subsea 7 lands Pierce work with Shell

first_imgSubsea 7 has been awarded a sizeable contract by Shell for the Pierce depressurization project, located approximately 160 miles offshore, east of Aberdeen.FPSO Haewene Brim; Source: BluewaterSubsea 7 defines a sizeable contract as being between $50 million and $150 million.The company said on Friday that the contract scope involves the engineering, procurement, construction, transportation and installation (EPCI and T&I) of a 30km gas export pipeline, a gas export riser and associated subsea infrastructure, for tie-ins at the Haewene Brim FPSO.Project management and detailed engineering has started at Subsea 7’s office in Aberdeen, with offshore activities scheduled for 2020 and 2021.Jonathan Tame, Vice President UK & Canada, said: “This award recognizes our extensive knowledge of Shell’s North Sea developments, gained over almost 30 years of working closely together to deliver safe and cost-effective construction, inspection, repair and maintenance operations across Shell’s European offshore fields and facilities.”Shell and its partner Ithaca Energy made a final investment decision on the Pierce Depressurization Project in the UK Central North Sea on Thursday. The investment will go towards modifying the existing FPSO vessel, the Haewene Brim, which is owned and operated by Bluewater. The work also includes installing a subsea gas export line from the FPSO to the SEGAL pipeline, and the drilling of new wells.The Pierce development work will take place between 2020 and 2021. The field is then expected to produce more than 30,000 barrels of oil equivalent per day at peak production.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.last_img read more

Prime Minister Skerrit affirms commitment to social protection programmes

first_img Sharing is caring! Share 19 Views   one comment Share Sharecenter_img LocalNews Prime Minister Skerrit affirms commitment to social protection programmes by: – July 11, 2012 Tweet Prime Minister Hon. Roosevelt Skerrit has given a commitment that the ‘Yes We Care’ programme will remain central in moving forward with Government’s social protection programmes.The ‘Yes We Care’ programme, a bold initiative of the Roosevelt Skerrit Administration, provides personal care and attention to the elderly particularly those who are alone, or whose families are unable to provide for them because of poverty, sickness or unemployment.The Prime Minister told the contract signing ceremony of the Bense Water Supply Project earlier this week that the 2012/2013 Budget will reflect Government’s continued desire to provide assistance to people who are poor and disadvantaged.“There were several hundreds of our people, elderly who were suffering, no one to cook for them and wash their clothes, no one to bathe them. The Government is spending hundreds of thousands of dollars every year to provide a service and to tell our senior citizens, “Yes somebody cares” and we made a commitment in the 2012/2013 Budget that the ‘Yes We Care’ programme will be central to moving forward.”The ‘Yes We Care’ Programme is in keeping with the Government’s strategy for social protection and poverty reduction as set out in its Growth and Social Protection Strategy (GSPS) approved by Cabinet in 2006 and updated in 2008 under the theme, ‘Leveraging Sustained Growth’.The Prime Minister said further that his “Government in recent times has spent hundreds of thousands of dollars in responding to disaster victims by helping them replace their beds, clothes and furniture so that they can live comfortable lives.”Government Information Servicelast_img read more

3 NegOcc MPAs shortlisted for nat’l awards

first_imgIn the Best Mangrove Award, SagayCity’s Suyac Island is competing with Bongsanglay Natural Park in Batuan,Masbate; Del Carmen Mangrove Site in Siargao Island, Surigao del Norte; andSilonay Mangrove Conservation and Ecopark in Calapan City, OrientalMindoro.  Competing for the Outstanding NationalIntegrated Protected Areas System-MPA are Apo Island Protected Landscape andSeascape in Negros Oriental; Batanes Protected Landscape and Seascape inBatanes; Hundred Islands National Park in Pangasinan; Palaui Island ProtectedLandscape and Seascape in Cagayan; and Siargao Islands Protected Landscape andSeascape in Surigao del Norte. These areas include the Suyac IslandMangrove Forest (Ecopark) of Sagay Marine Reserve in Sagay City, NegrosOccidental for Best Mangrove; Kabankalan-Himamaylan-Ilog-Integrated CoastalArea Management Council in southern Negros for Outstanding Network; andCampomanes-Ballo Marine Reserve and Sanctuary in Sipalay City, NegrosOccidental for Outstanding Locally-Managed MPA. BACOLOD City – Three marine-protectedareas (MPAs) in Negros Occidental were among the 22 finalists in variouscategories of the Para El Mar Marine Protected Area Awards and Recognition2019. The presentation and judging offinalists will be on Oct. 22 and 23 in Diliman, Quezon City. Sipalay City’s Campomanes-Ballo MarineReserve is in the final roster for Outstanding Locally-Managed MPA withAgay-Ayan and Caloco Marine Sanctuaries in Tinambac, Camarines Sur;Aquino-Ondoy Marine Fish Sanctuary and Fishery Reserve in Ibajay, Aklan;Bato-Tagaytay Reef Fish Sanctuary in Sta. Cruz, Davao Del Sur; Buntod ReefMarine Sanctuary in Masbate City; Igang Bay Marine Sanctuary in Nueva Valencia,Guimaras; Ranzo Fish Sanctuary in Pinamalayan, Oriental Mindoro; San Pablo DeBauan MPA and Fishery Reserve in Bauan, Batangas; Siete Pecados Marine Park inCoron, Palawan; and Tonggusung-Maruwa Fish Sanctuary in Simunul, Tawi-Tawi.center_img The winners will be awarded on Oct. 23at the Bahay ng Alumni, University of the Philippines (UP)-Diliman. Para El Mar (For the Seas) is abiennial event that recognizes the best practices in the management of MPAs. Itis presented by the Marine Protected Areas Support Network, a group of over 20organizations coordinated by the Marine Environment and Resources FoundationInc., the support foundation of the UP Marine Science Institute.(With a report from PNA/PN) The Suyac Island Mangrove Ecopark of the Sagay Marine Reserve in Negros Occidental is among the four finalists for Best Mangrove Award in the Para El Mar Marine Protected Area Awards and Recognition 2019. I LOVE SAGAY FACEBOOK PAGE Also vying for Outstanding Network areGingoog Bay Alliance and Macajalar Bay Development Alliance, both in MisamisOriental.last_img read more

Indiana Corn Producers Could Have Big Year

first_imgCorn yields could hit record highs statewide and around the nation, according to a crop report released by the U.S. Department of Agriculture.Indiana farmers are expected to produce around 174 bushels per acre in 2013, which is above the previous record of 171 bushels per acre in 2009.The trend continues nationwide, as U.S. corn yields are expected to be around 14 billion bushels. That is a billion more than the record setting harvest of 2007.The USDA currently is estimating price for this year’s crop around $4.50 per bushel, compared with $6.89 per bushel for the 2012 crop.last_img read more

Berry scores Sunday IMCA Modified win at Benton County

first_imgThe IMCA Sunoco Hobby Stocks ran their 15-lap feature with Nathan Ballard picking up his se­cond consecutive win. Ballard advanced from the 10th position start and rode the extreme high side to the front as racing three and four wide was the normal in the Hobby Stock main event. Brett Vanous also came from deep in the field to take second ahead of Jacob Floyd.  The Karl Kustoms Northern SportMods provided another action packed feature as Kyle Olson came from a third row start, chased down early leader Maguire DeJong and made the pass that sent him to victory lane. Brady Hilmer ran a very strong race in garnering a second place finish ahead of DeJong.   The IMCA Modifieds saw a 20-car starting field take the green flag. Ethan Braaksma took off from his pole position start and went on to lead the first half of the main event. Tom Berry Jr. worked to the front from his seventh position start and took over the point as the event passed halfway mark. By Jerry Mackey  Berry went on to score another Bullring win over Braaksma and Mark Schulte.  center_img Benton County Speedway will host another full program of racing on Sunday, July 26. Hot laps will take to The Bullring at 6 p.m. with racing to follow. VINTON, Iowa (July 19) – A beautiful July night greeted a nice crowd at the Benton County Speed­way, The Bullring Sunday night. Well over 100 cars took part in the fast-paced racing pro­gram that saw the final checkered of the night wave before 9:30 p.m.   The IMCA Sunoco Stock Cars have turned into the Murty family show on Sunday nights. This week it was Damon Murty taking advantage of a great starting position on the outside front row, leading the race flag to flag. Son Dallon Murty was battling traffic en route to a second place finish af­ter starting shotgun on the field. last_img read more

Sherwood is staying positive

first_img Press Association Bafetimbi Gomis’ winner condemned the hosts to a 1-0 defeat and left them just three points above the Barclays Premier League drop zone. It ended Villa’s three-match winning run which had seen them climb out of the bottom three and reach the FA Cup semi final. “I have an update every other day and I hope they are closer. Time will be a healer, whether games will come too quick for a few of them remains to be seen. “I don’t think Tom would come off if he hadn’t got something.” Gomis’ sixth goal of the season snatched a deserved win for Swansea, his first since collapsing at Tottenham at the start of the month – a result of a vasovagal condition which lowers his blood pressure. The hitman has replaced Wilfried Bony as the Swans’ main striker after Bony’s January move to Manchester City and boss Garry Monk believes it will take time for the striker to become a consistent scorer. Monk said: “He has played at the highest level, played Champions League football and he’s scored a number of goals every single season. “It has been difficult with Bony doing so well and his game time was limited. It does take time to settle and the team need to adapt to a new striker as well. “That’s what we’ve been working on. Bafe could have had five, six, seven goals since Bony left but the way he is contributing is very pleasing for me. “Since Bony has left he’s been top, he is very clever and just needs to get a bit sharper. I’m sure it will come.” Swansea midfielder Gylfi Sigurdsson added: “Everyone’s happy for him. He’s having to back up what Bony did for the club, that’s not easy there’s a lot of pressure on him. “But he got the goal, that’s two in three or four now so hopefully he can push on and get some more between now and the end of the season.” Tim Sherwood has vowed Aston Villa will not slip back into “depression mode” after their late defeat to Swansea. Villa boss Sherwood admitted morale was on the floor when he replaced Paul Lambert in February and, as the relegation battle intensifies, insisted it will not get so low again. He said: “We can’t take this defeat too deeply or we’ll slip back into that depression mode which I don’t want. “It was very low (when I arrived), they were on the floor, they hadn’t won in seven Premier League games and I don’t expect them to be doing cartwheels around the training ground. “It has picked up and it has picked up with a few results and the belief that what we’re doing is the right way forward. This is a little blip and a bump in the road and we need to get over it. “It was low when I came in but it’s turned around now.” Christian Benteke was substituted as he continues to struggle with a hip problem which could mean he misses Belgium’s Euro 2016 qualifiers against Cyprus and Israel. Tom Cleverley also limped off with a groin problem and Sherwood is missing injured skipper Ron Vlaar, Philippe Senderos, Joe Cole, Nathan Baker, Matt Lowton, Kieran Richardson and Aly Cissokho. He said: “Let’s hope we can get some bodies back on the training pitch. We have two fit defenders at the moment. last_img read more