Netherlands’ largest pension fund to boost sustainable investment, divest coal by 2030

first_img FacebookTwitterLinkedInEmailPrint分享Reuters:The Netherlands’ biggest pension fund, ABP, said on Monday it aims to reduce the carbon footprint of its asset portfolio by 40% from 2015 levels by 2025.ABP, which already set a target to cut the carbon footprint of its assets by 25% from 2015 levels by this year, follows moves by other leading funds – notably Norway’s $1.1 trillion sovereign wealth fund – to divest heavy polluting energy companies from its portfolio.ABP manages 465 billion euros ($515 billion) in assets for civil servants. Under its new target, it said it aims to invest $5 billion in “sustainable and affordable energy” companies over the next five years, adding to $10 billion already invested in such companies.It plans to exit coal and tar sands investments, with some exceptions, by 2030, it said.Peter Branner, chief investment officer at APG, the fund’s pension manager, puts companies into three ethical categories: those that it excludes completely from its portfolio – such as nuclear weapons makers and tobacco companies; those that make a positive contribution to society, which it seeks to own more of; and a third category he termed “laggards” that have room to improve and which include the Netherlands’ biggest company Royal Dutch Shell.He said Shell’s recent profit performance had been disappointing compared to that of Denmark’s Ørsted, which has become the world’s largest offshore wind energy producer over the past decade.[Anthony Deutsch and Toby Sterling]More: Netherlands’ $515 billion pension fund to accelerate cuts to fossil fuel investments Netherlands’ largest pension fund to boost sustainable investment, divest coal by 2030last_img read more

Update on the latest in sports:

first_img Associated Press The pay reductions of at least 20% are for staff making $60,000 or more. The UEC covers employees on the major league coaching staff, coaches and coordinators in the minor league system, scouts and performance coaches. Those with larger salaries are expected to take a cut more significant than 20%. UEC employees will receive full benefits through October.Approximately half of its employees working under a UEC will not have any reduction in pay. The team had previously told employees working under the UEC that they would receive full pay through May 31.In other virus outbreak-sports news—As Pac-12 football coaches pitched an NCAA-mandated uniform start to the season, some of the latest plans to fight the coronavirus in California further muddled how college teams will return to play in the West.Washington coach Jimmy Lake said Tuesday in a video conference with reporters that he would prefer for all major college teams to begin six weeks of preparation for the season at the same time.— The club that hosts the Wimbledon tennis tournament says it has made donations worth about $1.5 million to emergency services and charities amid the coronavirus pandemic. The All England Club says it has also made contributions to a relief program to support players whose income is particularly affected by the virus outbreak. This year’s grass-court Grand Slam event was canceled on April 1. It is the first time Wimbledon has been shelved since World War II. Share This StoryFacebookTwitteremailPrintLinkedinRedditMLB-VIRUS OUTBREAK-MARINERSMariners say some on staff taking 20% pay cutsSEATTLE (AP) — The Seattle Mariners have informed its personnel working under uniform employee contracts that certain employees will have a five-month reduction in pay, but there will be no furloughs or layoffs through Oct. 31. — The NCAA has canceled both sessions of the NCAA Basketball Academy in July because of the COVID-19 pandemic. The sessions were scheduled for July 20-26 at Utah, Winthrop, Wichita State and Connecticut. Up to 1,600 players from the high school graduating classes between 2021 and 2023 were to be selected to the academy, with up to 400 assigned to each region during the two sessions.— USA Gymnastics will not hold any top-tier events the rest of this year. The organization announced Tuesday it is scrapping the U.S. Classic and the national championships because of the COVID-19 pandemic. The organization had initially hoped to reschedule the events for later in 2020 after Tokyo Olympics were pushed back to the summer of 2021.— On the day they were supposed to hold a parade to mark their 2019 WNBA championship, the Washington Mystics have revealed plans for what the team is billing as a “virtual celebration.” The Mystics originally planned to take to the streets of the nation’s capital on Tuesday, but that was scrapped because of the coronavirus pandemic.— The Diamond League event in London is the latest track meet to be canceled because of the coronavirus pandemic. The meet had been scheduled for July 4-5 at the Olympic Stadium. British Athletics says “the decision has been made in light of the ongoing global pandemic.”—London Mayor Sadiq Khan says he believes it is too early for the Premier League to be planning a resumption of the season amid the coronavirus pandemic. Premier League clubs Arsenal, Chelsea, Crystal Palace, Tottenham and West Ham all play in the capital. The mayor’s office says the league should resume only “when it is safe to do so.” NHL-COYOTES-COHEN OUTAP Source: Coyotes president Cohen no longer with teamGLENDALE, Ariz. (AP) — Arizona Coyotes president and CEO Ahron Cohen is no longer with the organization, a person familiar with the move told The Associated Press.The person spoke Tuesday on condition of anonymity because no formal announcement has been made. No other details were provided.Cohen has been with the Coyotes since being hired in 2015 as chief operating officer and chief legal officer by previous owner Andrew Barroway. Cohen was named president and CEO in 2017 after Steve Patterson stepped back to serve as a consultant and adviser after a year on the job. May 12, 2020 Update on the latest in sports: — Swedish soccer players will not be required to take a test for COVID-19 before practice sessions or matches. Players will instead have to fill in a self-assessment form each morning before arriving at training or a match. The club doctor will then assess whether the player is healthy enough to take part. Players must stay at home if they have any symptoms.NFL-CARDINALS-PETERSONTEMPE, Ariz. (AP) — The Arizona Cardinals have re-signed cornerback Kevin Peterson to a one-year contract.The 26-year-old Peterson played in 14 games last season and started three.He was pushed into a bigger role because of Patrick Peterson’s six-game suspension and Robert Alford’s season-ending injury. He had 16 tackles, two passes defended and six special teams tackles after joining the team off waivers from the Rams in September. Alex Meruelo purchased a 95% stake in the team less than a year ago and signed general manager John Chayka to a long-term contract extension early in the 2019-20 season.The Coyotes were still in contention for a Western Conference playoff spot when the NHL season was put on hold due to the coronavirus pandemic.Cohen practiced as a corporate attorney in Phoenix before joining the Coyotes.,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6last_img read more