“I don’t see why we in Sweden should have a heavier impact than the rest of Europe – it seems very odd,” he added.“Taking into account that IORPs are purpose-built, small organisations that should be super-efficient at handling pensions for members, there is no additional money you can draw on, so the impact would be an additional cost on pensioners.”He said the new rules, effective from 2016 after the previous regime for pensions institutions (UFL) was phased out in 2011, was effectively an interim arrangement until the Commission amended the single market’s rules in a few years and that it would only lead to additional costs for all involved.“I don’t see why it should be done if it’s delayed in Europe,” he said.“I see it as a very inefficient way of doing something that is already taken care of under the traffic-light system.”The current traffic-light system, less than a decade old, serves as a warning system to FI if pension funds experience asset price or rate volatility.Hansson was nevertheless adamant the SEK24bn (€2.6bn) SPK would not need to change its asset allocation, only recently put in place after several years of work.“We are well prepared,” he said.“We have a solvency ratio of 140% – there will not be a problem for us.”He added that it was “crystal clear” SPK was an IORP and would therefore register to become one of the new pensions vehicles proposed by the government. Introducing capital requirements for Swedish pension funds – despite the European Commission’s decision not to include similar proposals within the IORP Directive – is “inefficient” and will result in an unnecessary cost burden for schemes.Peter Hansson, head of occupational pension association Tjänstepensionsförbundet and chief executive at banking industry fund Sparinstitutens Pensionskassa (SPK), criticised the proposed new regulatory framework that seeks to establish two distinct regulatory arrangements – one for insurance firms and one for providers of occupational pension benefits.However, Hansson’s complaint was not with the separate regime but with the capital requirements that would soon be imposed on IORPs as a result, despite the revised IORP Directive dropping similar considerations.He questioned why the government would request that Sweden’s regulator Finansinspektionen (FI) put such a system in place “when the whole of Europe struggles with it”.
The EU’s sustainability “taxonomy” could help investors reduce analysis costs and reputation risks, according to a member of the technical expert group developing the classification system. Speaking at PensionsEurope’s annual conference last week, Brenda Kramer, responsible investment adviser at PGGM and a member of the technical expert group, told delegates that the taxonomy had been devised as a “transparency tool” and would include guidance on investing in a number of sectors.The technical expert group on sustainable finance is set to publish its final report on the taxonomy next week, setting out criteria for sustainable economic activity. During a panel discussion on sustainable finance, Kramer said: “More than helping pension funds classify [investments], it will help with engagement with companies. You can talk to them and help them make the transition [to a low-carbon economy]. “The taxonomy takes away a bit of the reputation risk of making a judgement call on what’s green and what’s not green by yourself”Brenda Kramer, responsible investment adviser, PGGMThe taxonomy sets out which areas of industry are sustainable, and which are not, she said, including analysis of “transitional” elements of industry such as aluminium processing, concrete manufacturing and gas generation.According to the Principles for Responsible Investment (PRI), the first industries to be covered by the taxonomy will be agriculture, manufacturing, energy, transport, water, waste, ICT and buildings. Kramer said: “If I want to invest in energy, which energy activities are sustainable, and which are not? Wind is sustainable, but what if you invest in gas? Gas is a bit more complicated. If you combine gas plants with carbon capture and storage that could qualify.“We’ve looked at manufacturing, we’ve looked at real estate. We’ve also looked at sectors… that are important for the transition.”Fellow panellist Thierry Bogarty, head of ESG strategy at Amundi, supported the technical expert group’s work but warned against “normalisation” of ESG investing that could “stifle innovation”.“ESG has been a very fast growing market for the past two or three years, and still is,” Bogarty said. “Now the time has come for a bit of standardisation, a bit of common language, but not for normalisation. That is a big difference and that is what we are cautious about.“ESG has been market-driven for the last 10-12 years and it has been developing in a nice way. It’s good to have regulation now, but not normalisation.”Pierre Bollon, chief executive of France’s asset management association AFG, described the taxonomy as “regulation helping us”.‘Generational shift’: PRI backs taxonomyThe PRI has urged investors to support the sustainability taxonomy, and praised its “breadth and technical quality”.In a blog post, Will Martindale, the PRI’s director of policy and research, described the taxonomy as a “generational shift in how investors think about impact”.“It’s not just about the carbon saved, or the waste diverted from landfill, but whether the economic activities we finance are consistent with the future environmental state to which our governments are committed,” he said.Martindale continued: “The EU taxonomy is a tool to bridge the gap between international sustainability goals, like the Paris climate agreement, and investment practice.“To mobilise private finance, European policymakers understand that they need to translate climate targets into tools that investors can use…“The taxonomy will enable [investors] to determine the proportion of revenue from sustainable economic activities financed by the investment portfolio. The taxonomy will also support active ownership efforts: investors and companies can use the taxonomy to identify future growth opportunities.“Investors will need time to understand the taxonomy and, more time still, to integrate the taxonomy into investment practice. And investors may disagree with categorisations or thresholds. That’s okay.“But at this first stage, we encourage investors to get behind the taxonomy, to endorse the concept and to see how they will apply the taxonomy to investment practice.” “Secondly, it takes away a bit of the reputation risk of making a judgement call on what’s green and what’s not green by yourself… The taxonomy takes away some of the cost of analysing that, but it also takes away some of the reputation risk.”She added that investors would not be required to invest according to the taxonomy.
Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has taken steps to ensure continued support as the country’s offshore energy regulator during the coronavirus outbreak.NOPSEMA said on Thursday that its actions were being guided by the needs of the offshore industry and advice from the government such as the Australian Department of Health, the Department of Foreign Affairs and Trade, and the Australian Public Service Commission.“NOPSEMA recognizes the threats presented by COVID-19 to the offshore industry, our staff, and the broader community. In recognition of these threats, NOPSEMA is transitioning our workforce to operate remotely in a manner that will ensure sustainable delivery of regulatory services in the short and longer terms,” the offshore regulator stated.According to NOPSEMA, all of its staff will be working remotely from March 23 until otherwise advised, following significant tests of its systems for large scale remote operations.“We are confident that we have the capacity to provide all required regulatory support and to continue our regulatory operations,” NOPSEMA added.Its staff and inspectors remain contactable and are engage with duty holders and other stakeholders through traditional means, together with teleconferencing and other tools in place of face-to-face meetings.NOPSEMA said that it was ensuring business continuity and appropriate regulatory oversight of the offshore industry.Before the Australian regulator announced its measures, both the Norwegian oil regulator and offshore safety authority, as well as the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) revealed their responses to the coronavirus outbreak.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.
A local professor is one of 14 Ivy Tech faculty members in the state to receive the annual Presidents Award for Excellence in Instruction.In a tradition that began in 1983, one faculty member from each of the College’s 14 regions is chosen to receive the President’s Award. From the 14 recipients, one is then selected to receive the Glenn W. Sample Award for Excellence in Instruction, the College’s highest honor for faculty.Rebecca Rahschulte, Associate Professor of Psychology at the Lawrenceburg campus was recognized with the award.Ivy Tech Community College is the state’s largest public postsecondary institution and the nation’s largest singly accredited statewide community college system serving nearly 200,000 students annually. Ivy Tech has campuses throughout Indiana. It serves as the state’s engine of workforce development, offering affordable degree programs and training that are aligned with the needs of its community along with courses and programs that transfer to other colleges and universities in Indiana.
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Donald Trump is set to award the Presidential Medal of Freedom to conservative economist Arthur ‘Art’ Laffer, Wednesday at the White House around 4:45 p.m., EST.Click here to watch the ceremony live.Laffer, a former economic adviser to President Ronald Reagan, is known as the father of supply-side economics, which rose to fame in the 1980s.His theory, the “Laffer Curve,” establishes the concept that fewer regulations and lower tax rates would create economic growth, jobs, and investment.Several economists disagree with his theory and do not believe that cutting taxes would stimulate the growth that tax-cutters say would occur.Critics have dismissed supply-side economics as “trickle down economics” that enrich the wealthy and corporations at the expense of the middle class and the poor.Laffer has been supportive of President Trump’s economic strategy for America, especially the tax cuts passed into law in 2017 which led to the publication of the book he wrote titled “Trumponomics: Inside the America First Plan to Revive Our Economy.”The White House has faced backlash for awarding the Nation’s highest civilian honor to the controversial Laffer. However, the White House, which is no stranger to controversy, seems unbothered.In a press release, the White House called Laffer “one of the most influential economists in American history” praising the 78-year-old for his many accomplishments including the “Laffer Curve.”
ELLSWORTH — The high school competition cheer season ended on a high note for Ellsworth, which took second place at the state championships Saturday in Augusta.The second-place finish in Class B was Ellsworth’s second in a row. The Eagles’ team consisted of Belle Albert, Lindsay Bland, Anna Brown, Brooke Carver, Piper Hardison, Tanner Hardison, Madisyn Harmon, Amelia Hayden, Hailey McCabe, Kristen Omlor, Bailey Peterson, Olivia Robidoux, Danielle White, Emma Whitney and Emily Young.Hermon, which finished as the runner-up last year after five first-place finishes between 2011 and 2015, reclaimed the title in Class B. In Class C, Sumner finished fourth, and Bucksport took fifth. Lewiston and Central Aroostook won in Class A and Class D, respectively.This is placeholder textThis is placeholder text
Published on November 2, 2019 at 3:34 pm Contact Adam: firstname.lastname@example.org | @_adamhillman As Chiara Gutsche knocked the ball away from a Louisville forward, multiple Louisville defenders stood in front of her, but that didn’t matter. She sprinted past two, pushed the ball by another and spun away from the last. She fired a pass to a sprinting Carolin Hoffmann who was in on goal.The junior tapped the ball in as No. 14 Syracuse (12-5, 3-3 Atlantic Coast) escaped No. 5 Louisville (14-4, 3-3) with a 2-1 win in overtime, its third top-5 win of the season. After a slow first half, the Orange crushed the Cardinals in the second, eventually finding the winner from Hoffmann in overtime.Syracuse fell behind in the first half after Louisville knocked in a penalty corner. After goalkeeper Sarah Sinck deflected away a shot with her pad, the ball rolled to the right of the cage. Sophomore Laura Graziosi dove with her stick extended to try to push it away but Louisville’s Biz Allgeier got there first, tapping the ball into the goal. Following that late second quarter goal – and for most of the first half – SU struggled to mount pressure, totaling only one shot and no penalty corners in the first 30 minutes. That changed after the half. Syracuse’s press forced more turnovers, leading to more chances and two shots in the third quarter. One of those came from Hoffmann. Gutsche danced into the circle and fired a pass to the German-born midfielder, who slotted home the game’s tying goal, Hoffmann’s fourth of the season. AdvertisementThis is placeholder textThe offense’s second half improvements coincided with stifling defense. Backs Claire Webb and Olivia Graham poked away pass-after-pass and stepped in front of various opportunities for the Cardinals. When Louisville’s Bethany Russ – who has nine goals on the year – tried to fire away shots, she often couldn’t find space. Orange sticks pestered Louisville and sent the ball back down the field toward SU forwards. Once overtime came, the Orange were in full control. They had stopped the momentum Louisville had in the first half. All they needed was a moment of brilliance of Gutsche. Entering a rematch with the Cardinals in the first round of the ACC tournament on Thursday, Nov. 7, Syracuse is well-positioned to make the NCAA tournament. No. 8 in RPI before traveling to Kentucky and an overtime win over the No. 5 team should alleviate any concerns. Comments Facebook Twitter Google+
“Instinctively I reached at it. Bonehead play. Something I’ll think about forever.”Gonzaga guard Josh Perkins explains his technical foul on the Texas Tech inbounds play. pic.twitter.com/6XiilBI5ZV— CBS Sports Network (@CBSSportsNet) March 31, 2019Perkins, a redshirt junior, finished with 16 points and six assists on the night.He also hit a clutch shot from 3-point range to reduce his team’s deficit just before his unusual violation. Josh Perkins committed a rare flagrant foul in Gonzaga’s 75-69 loss to Texas Tech on Saturday.The Bulldogs guard reached out of bounds and fouled a Red Raider during the Elite Eight matchup. Perkins was accessed a Flagrant 2 and Texas Tech received two free throws and maintained possession of the ball down the stretch. Oh no Josh Perkins.Perkins is called for a tech after reaching over the sideline.pic.twitter.com/xfPcT5r4FY— Sporting News (@sportingnews) March 31, 2019The Bulldogs were within two points of the Red Raiders when Perkins committed the foul, and his blunder proved costly as Gonzaga missed its chance to advance to the Final Four.“Instinctively I reached at it,” an emotional Perkins said after the game. “Bonehead play. Something I’ll think about forever.”
Coach of Arsenal Arsene Wenger called Miralem Pjanić to ask him whether he would like to join Wenger’s team. The Sun wrote that Wenger sees Pjanić as a long-term substitution for the injured Santi Cazorla.Allegedly, Pjanić is very excited because of the call and the negotiations between him and Wenger are ongoing. However, Juventus would sell Pjanić against their will after Axel Witsel decided to move to China. Although it is still early to talk about a final agreement, Arsenal is willing to offer 28 million GPB for the BiH national team player.Since he came from Roma to Juventus last summer for 25 million GPB, Miralem Pjanić delighted the fans and football experts with his performances on the field. Pjanić signed a five-year contract with Juventus, which means that Arsenal will have to pay a lot if they want to bring him to their rows.Santi Cazorla is taking a three-month break due to ankle surgery, and he will be back on the field in February.(Source: klix.ba)