ABP divests from palm oil firm amid public criticism

first_imgThe Netherlands’ biggest pension fund is to divest a stake in South Korean firm Posco Daewoo, as a subsidiary is involved in chopping down rainforests for palm oil plantations in the Indonesian province of Papua.ABP, the €408bn Dutch civil service scheme, said in a statement that the company was too slow in responding to communications from its asset manager APG about tackling issues.“As a result, we have lost faith in the company’s willingness to improve,” the pension fund said.However, Dutch environmental group Milieudefensie claimed that ABP had divested its €300,000 stake as a result of pressure from ABP’s members as well as the pressure group itself. Milieudefensie said that the palm oil firm had destroyed 27,000 hectares of rainforest during the past few years, displacing the local population and depriving them of their livelihood.The pressure group said it also wanted ABP to divest a €157m stake in Posco, the parent company of Posco Daewoo.“If ABP were to really invest sustainably as it claims, it should divest from the entire industrial palm oil sector,” the group argued.TV show criticismMilieudefensie highlighted that ABP had recently received a ‘Scaredy-Cat’ trophy from Dutch consumer programme Kassa, after it declined to account for the now-divested holding on camera.At the time, ABP said nobody was available to comment because of the school holidays.José Meijer, vice chair of the scheme, said she regretted “that the viewers have missed us, as we are keen to account, and never shy away from issues”.ABP’s investments in palm oil firms total €17m. It said it was actively encouraging sustainable and responsible production of palm oil.In 2016, the pension scheme introduced a new investment policy that not only took into account return, risks and costs, but also assessed how sustainable and responsible its investments were.ABP said this policy must guarantee that it invested in equity and bonds of companies that are ahead on sustainability and responsibility factors by 2020.It would only invest in other firms if it had faith in their ability and willingness to improve, it said.last_img read more

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Mandate roundup: Swiss scheme tenders EM mandate via IPE Quest

first_imgManagers should have more than $150m in assets under management for the asset class, and more than $1bn in total assets.Applicants should state performance data to 30 November 2019, gross of fees.Their track record should be at least three years, but a track record of five years is preferred.The deadline for applications is 7 January. The scheme will select the more cost-efficient solution.The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email jayna.vishram@ipe-quest.com.Brunel PP awards global high alpha briefBrunel Pension Partnership, one of the UK’s eight Local Government Pension Scheme (LGPS) pools, has appointed five managers to run its global high alpha portfolio to which £2.6bn (€3bn) will initially be allocated.  It awarded mandates to AllianceBernsteiin, Baillie Gifford, Fiera Capital, Harris Associates and Royal London Asset Management. It evaluated 110 strategies as part of its search.Brunel, which manages around £30bn on behalf of the local government pension funds of Avon, Buckinghamshire, Cornwall, Devon, Dorset, Gloucestershire, Oxfordshire, Somerset, and Wiltshire as well as the Environment Agency pension fund, was looking for a long-term approach, innovation and originality in managers’ processes, and high return expectations of 3% or more over benchmark.Matt Betts, senior investment officer at Brunel and lead on the manager search, said: “We particularly like dynamic managers who will truly engage with us, and we believe that these managers comprise an effective combination that we hope to see deliver the long-term returns sought by our clients.”The LGPS pool said it considered global high alpha equities one of its “pivotal” products. This article was amended after publication with more information about the Brunel Pension Partnership mandates. A Swiss pension fund has tendered a mandate via IPE Quest.According to search QN-2582, the scheme has tendered an emerging market corporate debt mandate, investing $40-60m (€36-54m) in hard currency investment grade bonds.It will use the JPM CEMBI Broad Diversified IG (JBCDIGIG Index) as a benchmark, with a maximum 4% tracking error.The fund is searching for one EM manager and it will not consider approaches such as local currency, blended, total return, leveraged products, short duration, emerging EM equities, combined solutions for EMD and DM debt, pure EMD sovereign products, nor products that allocate mor ethan 25% to sub-investment grade corporates.last_img read more

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Will once-a-week ‘lockdown’ work?

first_imgILOILO– Eleven towns in northern Iloilo agreed to observe a “lockdown” every Sundayto curb the spread of the coronavirus disease 2019 (COVID-19). The11 towns banded together under the name “Northern Iloilo Alliance Anti COVID 19Task Force.” Baniasof Concepcion, Mayor Jett Rojas of Ajuy, Mayor Jon Aying of Sara, Mayor Manuel Ganzonof Balasan, Mayor Elvira Alarcon of Batad, Mayor Siegfredo Betita of Carles,Mayor Roberto Belleza of San Rafael, Mayor Melina Requinto of Estancia, MayorLarry Villanueva of San Dionisio, and Mayor Oscar Villegas Jr. of Lemery. Theso-called lockdown will start this Sunday, April 12. “Nagapatikami nga ang pag-limit sang hulag sang tawo is one effective way to limit thespread of the virus,” said Mayor Banias./PN Willthis once-a-week move work?center_img Allestablishments in the 11 towns would close shop, too, except pharmacies. Theyagreed on the every-Sunday-lockdown during an April 5 meeting. Noresidents of these towns would be leaving their houses unless there’s a medicalemergency or if purchasing medicines, or if the member of the household isworking in a hospital. Themayors who agreed to this scheme were Mayor Nielo Tupas of Barotac Viejo, MayorRaullast_img read more

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Solskjaer reacts on Ighalo’s future at Man United

first_imgManchester United boss Ole Gunnar Solskjaer has provided  latest update on Odion Ighalo’s future at Old Trafford. The 30-year-old joined United on a six-month loan deal from the Chinese club, Shanghai Shenhua in the January transfer window. SportingLife revealed earlier that Shenhua had snubbed Man United’s requests to keep the former Super Eagles forward at Old Trafford for another three months.Advertisement Read Also: Ex-Eagles star begins coaching course at French club Montpellier“It’s been a dream for him and hopefully he can finish off what he started, hopefully with a trophy for us.“At the moment, nothing has been agreed. Their league is going to get started soon so we’re just waiting to see.”FacebookTwitterWhatsAppEmail分享 “The loan deal went until the end of May now, so obviously he’s supposed to be going back,” Solskjaer told MUTV while reacting on Ighalo’s future at the Premier League giants. “We’re in dialogue. They’ve been great towards us, his club, and allowed him to play for his dream club.center_img Promoted Content6 Extreme Facts About Hurricanes8 Superfoods For Growing Hair Back And Stimulating Its GrowthYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime5 Of The World’s Most Unique Theme Parks7 Non-Obvious Things That Damage Your PhoneXi Ding Created Caricature Version Of Marvel Characters6 Interesting Ways To Make Money With A Drone7 Universities In The World With The Highest Market ValueHow Good The CGI Effects In Those Movies Were!Who Is The Most Powerful Woman On Earth?Birds Enjoy Living In A Gallery Space Created For ThemA Hurricane Can Be As Powerful As 10 Atomic Bombs Loading… last_img read more

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Hobby checkers fly for Hoffman at Park Jeff

first_imgJEFFERSON, S.D. (June 10) – The saying goes if you aren’t good, be lucky. Andy Hoffman has been both at Park Jefferson Speedway in 2017.The now three-time winner has been rising up the point standings and in doing so, has been able to pass cars. This past Saturday, Hoffman was also lucky as he drew the pole for the biggest IMCA Sunoco Hobby Stock race of the regular season in the Road to the Iron Cup for Hobby Stocks.With a purse bolstered by Motor Parts Central and Stephan Welding, Hoffman cruised from his front row starting spot to take the $450 check. Paul Menard and Craig Clift were in hot pursuit and rounded out the top three.In the IMCA RaceSaver division’s second night ever at Park Jefferson, it was veteran John Lam­bertz picking up the win over Shane Fick and Colin Smith.Lambertz, who has more experience than Fick has age, was able to take the jump from the first row and cruise to his first win at the facility. Fick and Smith put on a good show for the runner up spot and young Elliot Amdahl finished in fourth.Jay Noteboom topped the SignMasters IMCA Modifieds and Elijah Zevenbergen scored another J & J Fitting IMCA Stock Car feature win.In the Schaeffer Oil IMCA Northern SportMods, it was Dave Riley, better known for his Hobby Stock runs, picking up the top spot.The IMCA Fox 620 Sport Compacts saw a feature victory go to Luke Jackson after the apparent winner and runner-up were disqualified in post-race tech.last_img read more

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Black Cats appeal Sessegnon red

first_img The 28-year-old Benin international will have his case heard by an independent regulatory commission on Wednesday afternoon. Sessegnon was sent off by referee Lee Probert during the 6-1 Barclays Premier League defeat at Villa Park for a foul on Yacoub Sylla with 21 minutes remaining. Sunderland have formally lodged a claim for unfair dismissal following Stephane Sessegnon’s red card at Aston Villa, the Football Association has confirmed. Press Associationlast_img read more

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Eto’o at the double in Everton win

first_img But it was Lukaku’s error that allowed them to pull level, inexplicably passing the ball straight to Lukas Jutkiewicz, who timed his through-ball to Ings perfectly. The striker showed excellent composure to round Tim Howard and slot into an empty net, becoming the first forward to score for Burnley this season. That lifted the hosts and Scott Arfield was a touch unfortunate to see his well-struck volley fly the wrong side of the post. However, nine minutes after conceding, Everton went back in front as Lukaku made amends for his earlier error. The striker received the ball from Naismith just inside the box and turned Jason Shackell. Lukaku’s first effort was blocked by Ward but the ball rebounded to him and this time he managed to guide a shot into the bottom corner. It did not look the cleanest strike but Everton did not care, and they might have gone into half-time with a two-goal cushion. Heaton looked to have Naismith’s header covered but flapped at it and was grateful to be able to grab the ball when it came back off the crossbar. It was a quieter start to the second half but Everton were mostly in control, with Eto’o seeing two long-range efforts comfortably saved by Heaton, who then scrambled Baines’ free-kick round the post. Burnley boss Sean Dyche sent on Ashley Barnes for Jutkiewicz, while Barkley made his entrance in place of Lukaku with 25 minutes left. But the spark the home side needed to get back into the game remained elusive and the points were wrapped up five minutes from time when Eto’o turned 25 yards out and curled a terrific shot into the corner. The Cameroonian almost ended the game with the match ball after seizing on a misplaced back pass and rounding Heaton but his shot hit the inside of the far post and rolled along the goal line. Press Association Romelu Lukaku answered his critics and Samuel Eto’o struck a brace as Everton made it back-to-back Barclays Premier League victories with a 3-1 win over Burnley. That would probably have been enough as Burnley once again fell short in their search for a first win of the season but Eto’o made sure with a fine third in the 85th minute. Everton boss Roberto Martinez decided against giving Ross Barkley a third start in a week on his return from injury, with Eto’o starting in his place. Seamus Coleman, James McCarthy, Leon Osman and Steven Naismith, none of whom started the goalless Europa League draw in Lille on Thursday, were all back in. Burnley would have hoped to capitalise on any weariness Everton were feeling but instead it was the visitors who took the lead inside four minutes. Patient passing was rewarded when Osman fed Leighton Baines down the left and the full-back picked out Eto’o, whose powerful header beat Clarets goalkeeper Tom Heaton and went in off the crossbar. Burnley had played very well in the first half against West Ham last weekend before going down 3-1 but it was a different story this time as they struggled to keep the ball. Lukaku benefited from such generosity to fire in his first shot of the afternoon, but it slid just wide of the far post. Gradually the home side began to generate a bit of momentum, with Stephen Ward and David Jones both seeing shots blocked. Lukaku felt the heat from some Everton fans after his mistake led to Danny Ings cancelling out Eto’o’s early opener in the 20th minute. The Belgium striker has not yet had the impact this campaign that he did during his loan spell with the Toffees last season but nine minutes after his blunder he netted a fourth of the season. last_img read more

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Carver gets Mourinho backing

first_img The 49-year-old has made no secret he wants the position on a permanent basis, having stepped up following Alan Pardew’s departure to Crystal Palace. Newcastle are without a win in Carver’s three games at the helm, but played well on Saturday and caused Chelsea plenty of problems before the Blues secured the 2-0 win which took them clear at the top of the Premier League table. Newcastle caretaker boss John Carver has a big-name backer to land the job full-time after revealing Jose Mourinho told him he deserves a chance. Press Association But, as his side enjoyed a dominant spell over their west London hosts, Carver was approached by Mourinho on the touchline and was given support by the Portuguese. “He said to me ‘if you keep playing like this you’ll get a five-year contract as Newcastle manager’,” Carver revealed. “It was nice. At the end of the game he said ‘you deserve the job, you’re ready for it now’. He said ‘I hope you get it’. We just laughed and he gave me another hug – he must have hugged me 10 times. He kicked the ball at me once as well, but I didn’t react. I’ve calmed down now! “He’s a great guy and I go back because I’m great friends with Steve Clarke and I’ve spent time here watching training, so I do know him. And with his relationship with Sir Bobby (Robson) and my relationship, there is a connection there.” Newcastle moved on Sunday to dismiss speculation that they were on the verge of appointing a new head coach. Speculation has been rife over the last 24 hours that an announcement is imminent with Remi Garde having been installed as an odds-on favourite by the bookmakers. However, Press Association Sport understands that, while club officials have spoken to the Garde camp, they have also held exploratory discussions with the representatives of several other potential candidates, and that further talks are planned during the coming days. Managing director Lee Charnley and chief scout Graham Carr have spent the last week drawing up a list of possible successors to Pardew and then whittling it down to those they believe could do the job. However, some of those under consideration are currently in employment, and that further complicates matters with the likes of St Etienne’s Christophe Galtier, Derby’s Steve McClaren and Ajax’s Frank de Boer having publicly distanced themselves from the vacancy. The Magpies could yet make a temporary appointment – Carver would appear well placed in those circumstances – while they wait for their man. But the recruitment process remains very much in its infancy and sources on Tyneside are adamant that no one has yet been offered the job. Carver insists he is happy to manage the club on a week-to-week basis in the short-term but expects a decision to be made following next weekend’s game at home to Southampton. He has already shown he can get the best out of players, although admittedly not yet over a sustained period, and was behind Remy Cabella’s best Newcastle display as the Frenchman ran the Chelsea defence ragged in the opening exchanges. Carver said he had spoken to Cabella in front of the entire squad during the week and told him he wanted more from him defensively before backing him to play a key role at Stamford Bridge “I said it in the team meeting (on Friday) because it was important that we know what ability he has got, but he has been a bit lax on the other side of the game,” Carver added. “The one thing we demand and our fans demand is people working hard. We love people with creativity and he’s got that in abundance. He’s just got to start adding that end product to what he does.” last_img read more

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Real Madrid coach Santiago Solari, defender praise family atmosphere at Spanish club

first_imgMadrid: Real Madrid coach Santiago Solari and defender Alvaro Odriozola on Tuesday hailed the family atmosphere at the Spanish club. The remarks of the head coach and player came in response to former Real Madrid forward Cristiano Ronaldo, who moved to Juventus in the past summer window and recently made statements in which he said the climate in the Italian side is more family than the Spanish club, reports Efe news.”Given my experience at Real Madrid, we are a family and what mainly surprises you is the humility of champions of the world in their daily work. This is a family and we are all united to fight to win the titles of this year,” Odriozola said.The defender added that he has “a very high respect for a person like Cristiano who is a legend in Real Madrid and has given a lot for this club,” but this has already become part of the past. IANS Also Read: Real Madrid Top Huescalast_img read more

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Former players react to Jim Boeheim’s latest milestone victory

first_img Published on December 18, 2012 at 2:54 am Contact David: dbwilson@syr.edu | @DBWilson2 Jim Boeheim has seen a lot in his 37 years as the head coach at Syracuse.Five different decades spanning back to his playing days, several potentially-crippling scandals, the construction of the Carrier Dome, the rise of the one-and-done, and of course hundreds of different players from unique backgrounds.Through it all, though, Boeheim has been as much a model of consistency as any figure in sports. And Boeheim’s former players are just as consistent in their praise for the coach as he yet again etches his name into the record books with a 900th career win.“To be able to recruit (five) different decades has been incredible,” said Dave Siock, a center for the Orange from 1988-93. “I mean his program sells itself. He’s done such a good job with the system he uses that it appeals to the kids even nowadays. I mean they’re excited to come to the Dome and play for Coach Boeheim still.”With the 72-68 win over Detroit on Monday, Boeheim joined Bob Knight and Mike Krzyzewski as the only three coaches in Division-I college basketball history with 900 career victories. Boeheim also now sits just two wins behind Knight’s 902 for second all time.AdvertisementThis is placeholder textIt’s elite company for Boeheim that goes to show just how remarkable of a feat 900 wins is.“Those other two gentlemen are phenomenal as well,” Siock said. “So the top three like that just speaks volumes about the job Coach Boeheim has done at Syracuse.”Publicly, Boeheim has been his usual self—nonchalant about the achievement and thinking of it as just another win.No one can be sure what he thinks behind the scenes other than Boeheim himself, but Siock gave some insight from his personal experience with the head coach.“I’m sure it means a great deal to him,” Siock said. “Privately I’m sure he’s really excited about it. I just think he’s more focused on the job at hand than anything else. He realizes it’s a big honor, but there’s still games to be played, so he can’t dwell on it too long.”Jason Hart always valued Boeheim’s long list of achievements, but as a coach himself now, he’s taken a different level of appreciation.After starring as a guard at Syracuse from 1996-2000, Hart played professionally for 10 years. In 2012 he was named an assistant coach at Pepperdine giving him a new sense of admiration for Boeheim’s accomplishment.“For him to continuously beat the (North) Carolinas and Dukes and Georgetowns and all that, that’s pretty amazing,” Hart said. “So I definitely, now that I’m coaching on this side, respect all those wins. That’s pretty amazing.”Craig Forth also coaches now, although at the high school level. The former center played at Syracuse from 2001-05. He was on the court during the 2003 NCAA Championship and during Boeheim’s 700th career win just seven years ago.Forth said it’s those types of accomplishments – the championships and rapidness of victories – that Boeheim will be remembered for.“He’s obviously going to be remembered for a very long time for the length of his career,” Forth said. “And obviously being in the Big East for pretty much every year of that and each win—he definitely racked ’em up against the toughest competition out there.”With Boeheim quickly piling up victories, reaching 1,000 is within reach. But it’s a possibility that hasn’t been discussed much as the assumption has been that Boeheim would retire within the next two or three years, handing the program off to assistant coach Mike Hopkins.But people have said that for years and Boeheim keeps defying expectations. Nine hundred is just one more marker for the head coach, and Siock doesn’t think it’ll be his last.“Well, too bad for Mike Hopkins, I think Coach Boeheim’ll stick around to get 1,000 wins to be honest,” Siock said. “… He’s not that far off.” Comments Facebook Twitter Google+last_img read more

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