Turning the mill

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Promoting sustainable finance won’t help save the planet: consultant

first_imgPromoting sustainable finance won’t help fight climate change and allowing or encouraging policymakers to pursue that agenda could actually hinder sustainable development, according to an individual who used to be in the business of doing just that.  Frank Wettlauffer, a co-founder of FNG, the industry association promoting sustainable investment in Germany, Austria and Switzerland, and a former head of international institutional clients at Bank Sarasin, put forward the argument in a recent newsletter from Absolut Research, a research company and publisher focusing on institutional asset management in the German-speaking markets.As appealing as the idea of steering capital towards sustainable investments was, doing so did not stand to mobilise much additional capital to finance sustainability projects in the real economy, he wrote.As long as a company or project was legally sound and promising, it should be able to secure financing commensurate with the risks involved, regardless of whether the investment was sustainable or not. If politicians wanted to channel more capital in favour of sustainable investments in the real economy then they would need to change the policy frameworks so that these became more profitable. The money would then come by itself.  Promoting sustainable investing was not only ineffective from the point of view of achieving sustainable development, but could be harmful if politicians thought this let them off the hook, argued Wettlauffer.“When politicians are busy regulating the finance sector, they can’t also pass other – effective – laws for sustainable development,” he wrote.Speaking to IPE, he recalled a German regional minister telling him that “politicians can’t fix this on our own, the finance sector has to help”. Frank Wettlauffer, independent consultant“That’s completely wrong,” said Wettlauffer. “Of course the money has to come from the private sector, but in order for it to come from the private sector it has to be profitable, regardless of whether it is brown or green.“And politicians have to make sure [it is profitable] by regulating.”Asked for an example of a helpful real world measure, he said that in the context of Germany this could be to shorten appeal processes, because civil society campaigns were preventing moves to expand the renewable energy grid.In Germany, most renewable energy is produced in the north but there isn’t the infrastructure to quickly transport it to the west and south, where large metropolitan areas and heavy industry are mostly located. Drop the fairytaleAccording to Wettlaufer, sustainable investments would continue to be successful because they were attractive in terms of risk-adjusted returns, burnished investors’ reputations, and were guilt-free.“But they cannot and will not contribute to sustainable development,” he wrote. “Government promotion won’t change that.”Those truly interested in a better natural environment and society should deploy their resources elsewhere and “quit promoting the fairytale about sustainable investments’ significant contribution to sustainable development”, he concluded.When asked about engagement as a means of contributing to sustainable development objectives, Wettlauffer said “this does help, because it directly influences companies”.Investments such as microfinance could have an impact, he added, but in public markets there was no “additionality”.“The moment a bond or a stock is issued then it doesn’t matter what it’s called, green or brown,” said Wettlaufer. “Wherever there is a seller there is a buyer.”Some have argued that sustainable investing via secondary trading in public markets can still have a positive impact, albeit indirect, by affecting the cost of capital and hence a business’ growth plans.last_img read more

AREC 2019: Volume will correct a correcting market

first_imgRay White real estate agent, Sonya Treloar. Picture: Tara Croser.Gun Brisbane businesswoman Sonya Treloar has strong belief that the real estate market can be corrected, and has some tips to do so. Ms Treloar, who settled 143 real estate deals last year, said her database of 3284 people produced 50 per cent of her sales last year — with her average sale price sitting at $722,000.“Volume I believe will correct a correcting market. There is no better time to be in the market. The changing market is our future,” she told the AREC 2019 conference at the Gold Coast Convention & Exhibition Centre.“What was last year is gone. This is the market we’re in. We can’t go back, we’ve got to move forward. If we don’t change and adapt to this market, we will be left behind. These are great times.” Life lessons from escaping a bomb blast — Be careful what you post.— You can only lose your reputation once— Your name is your brand— Keep your brand squeaky clean.— Process is the key. FOLLOW SOPHIE FOSTER ON TWITTER Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 MORE AREC 2019: Ditch the ‘oxygen thieves’center_img How to survive in a tough property market AREC 2019 Gold Coast Convention & Exhibition Centre, June 02, 2019. Picture: SOPHIE FOSTERMore from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoTrust was key to doing well, she said. “Always do what you say you’re going to do. If you say you’re going to ring someone, please do it. Those people are waiting for you to call.”“Think back to when you were a teenager. when you waited all day and night for a call. How did that make you feel? That’s how you made your buyer feel when you made a commitment to call and didn’t. Please back up what you say. This will be your competitive advantage.”She said embracing learning was the way to get better. Sonya Treloar’s Communication Tips: She encouraged young agents to work towards becoming the “favourite real estate agent” of people in their territory, much like families had a favourite doctor, favourite lawyer or favourite plumber.“Start being noticed, start being that person,” she advised.last_img read more

Alphaliner: Containership Fleet Capacity Hits 23 Mn TEU Mark

first_imgThe total capacity of the world’s cellular containership fleet has passed the 23 million TEU mark following the delivery of two more Pegasus class vessels to MSC in September, according to Alphaliner.Handed over on September 11, the two 23,000+ TEU megamax ships joined the carrier on the 2M’s Far East – Europe network. The last million TEU milestone had been recorded in July 2018, when the global box fleet surpassed 22 million TEUs.“Growth of the cellular fleet has remained steady at around 4% since May, with deliveries of new containerships adding 826,000 TEU to the overall fleet so far this year. In contrast, scrapping has remained low with only 165,000 teu removed from the fleet since January,” Alphaliner informed.“A strong charter market gives owners little incentive to recycle ships, and several vessels that were initially bound for the breaking yards are now being kept in active service.”Furthermore, Alphaliner expects the low scrapping rate to persist for the remainder of the year, lowering its full-year ship recycling estimate for 2019 from 350,000 to less than 250,000 TEU.Current charter rates have increased 30% over the same period of last year, particularly for larger ships. In the size classes above 5,000 TEU “rates have more than doubled, compared to one year ago.”Some of the demand increase recorded since June is related to vessel downtime from scrubber installations, Alphaliner said, adding that a total of 44 ships with a overall capacity of 465,000 TEU are currently undergoing retrofit work at various shipyards.last_img read more

Meth too addictive for harm minimisation approach, says drug educator Dale Kirk

first_imgStuff co.nz 3 May 2018Family First Comment: “I think that unfortunately we have information out there that potentially could be harmful. I think it’s the wrong message. Our message and work in the community is around the Not Even Once message,” he said. Methcon worked with businesses, high schools and in the community.”Sounds like a far better option for schools than the Drug Foundation!The harm minimisation approach to drugs taken in material given to senior students at Massey High School doesn’t work with methamphetamine, drug educator and former drug squad detective Dale Kirk says.A booklet provided to a Year 13 health class at Massey included advice on how to take care of a meth-smoking pipe and to never be caught with more than 5 grams of meth – the threshold to be classified a dealer.“Meth is illegal. It’s also illegal to own a pipe. Be discrete [sic] and only keep less than 5 grams for personal use,” the pamphlet said.The pamphlet also advised on ways to hide meth use and advised that swallowing meth was safer than injecting. “It saves your lungs from damage, produces a smoother and longer lasting high, and you’re less likely to use more.”Family First put out a statement about the information provided to Massey students, saying the advice was foolish and inappropriate.It called on the Government to review taxpayer funding for the NZ Drug Foundation. Massey has said the material provided to its students could be found as part of a foundation programme, which was fully funded by the Ministry of Health.READ MORE: https://www.stuff.co.nz/national/education/103583432/meth-too-addictive-for-harm-minimisation-approach-says-drug-educator-dale-kirkWhy is public paying for kids to learn how to use meth?NewsTalk ZB 3 May 2018 An anti-drug group says the public shouldn’t be funding pamphlets on how to safely use methamphetamine.New Zealand’s approach to drug education’s been thrust into the spotlight, after some Massey High School students were given a “harm minimisation” document as part of a health study.The leaflet includes information on how to clean meth pipes, and recommends users never carry more than five grams of the drug.Methcon managing director Dale Kirk told Mike Hosking it is beyond belief.“If you’re a parent you have got to ask yourself are you happy this information a. is being presented at school and b. that your tax payer money is funding it.”http://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/dale-kirk-public-shouldnt-be-funding-pamphlets-on-how-to-use-meth/last_img read more

Trump appears to mock 16-year-old climate change activist

first_imgTrump’s climate change stance has drawn ire from many in the international community, especially after his 2017, announcement that the US would pull out of the Paris agreement.The Swedish activist seems to have brought that issue back into the spotlight.But the president  is not the only Republican under fire for his comments about the young girl.Fox News faced backlash after The Daily Wire’s Michael Knowles called the teen who has Asperger’s syndrome, a diagnosis she embraced as her “superpower,” mentally ill.“If it were about science, it would be led by scientists rather than by politicians and a mentally ill Swedish child who is being exploited by her parents and by the international left,” he said.The network later issued an apology to Thunberg, calling Knowles’ comment “disgraceful.”Despite the negativity she has faced, the young activist has also been praised by many including Democrat lawmakers.Among those who voiced support was 2020 Democratic presidential contender Sen. Kamala Harris, D-Calif., who wrote on Twitter that Thunberg “was right: we are currently failing our nation’s youth by not taking swift action to combat the climate crisis.” President Trump is under fire for another post to his Twitter account this time for seemingly mocking a 16-year-old girl with Asperger’s syndrome.Greta Thunberg went viral after her emotional speech at the Climate Action Summit in the United Nations.In her speech, a tearful and sometimes trembling Greta accused world leaders of stealing her dreams and her childhood with their inaction on climate change.“I shouldn’t be up here. I should be back at school on the other side of the ocean,” said the 16-year-old from Sweden. “Yet you all come to us young people for hope. How dare you! You have stolen my dreams and my childhood with your empty words.”The Swedish teen activist has become an “icon” overnight after launching her campaign 8-months ago by holding a school strike for the climate outside the Swedish parliament building last August.She has even caught the attention of President Trump who took to Twitter Monday evening praising Greta but in a seemingly sarcastic manner.She seems like a very happy young girl looking forward to a bright and wonderful future. So nice to see! https://t.co/1tQG6QcVKO— Donald J. Trump (@realDonaldTrump) September 24, 2019But there seems to be no love lost between the pair, at the summit, the teen was caught in a now-viral GIF glaring at the US president.If a picture is worth 1,000 words then this GIF is worth 100,000 #ClimateWeek2019 pic.twitter.com/AqXdeUzgk3— NowThis (@nowthisnews) September 23, 2019last_img read more

Persaud urges NSC scholarship awardees to be good ambassadors

first_imgCHAIRMAN of the National Sports Commission (NSC) Ivan Persaud has urged the four NSC scholarships awardees, Owen Adonis, Emanuel Archibald, Alque Stanley and Natrena Hooper to take the programme seriously and be worthy ambassadors of their country. Persaud made the appeal yesterday when the four awardees visited the NSC headquarters on Homestretch Avenue, where they met with Director of Sport Christopher Jones.The four awardees were each given a four-year scholarship late last year, with Adonis, Archibald, and Hooper, attending the University of the West Indies (UWI) Mona Campus in Jamaica, while Stanley is at the GC Foster College also in Jamaica.“For the recipients, I want you guys to understand that it’s very important that you take this very seriously, and to make sure that you perform more than your best, not only academically, but also in your respective sport.“Make sure that you understand that you are a role model for a lot of youngsters who are coming into sport now … and be a good ambassador for Guyana,” Persaud said.According to the NSC chairman, the initiative is really needed for the development of sport locally.“We cannot have elite athletes without scholarships, without being afforded the opportunity to have free meals, free accommodations, free studies, and most of all, the opportunity to train at the highest level if we want to not only participate, but to really compete at international sports,” Persaud pointed out.The initiative was coordinated by NSC Commissioner and UG Sports Administrator, Lavern Fraser-Thomas, who said that the scholarships were based on University of Guyana’s performances at the UWI invitational track and field competition last year in Jamaica.Apart from training, Adonis will be studying for a Bachelor’s Degree in Management Studies, Archibald will pursue a Bachelors’ in Sociology, while Stanley will be pursuing a Bachelor’s in Education and Hooper a Bachelor’s in Social Science (Gender Development Studies).The four awardees, while accepting that the training is much different from what they have been accustomed to, promised to make full use of the opportunity offered.The scholarships are expected to cost the NSC some $16M.last_img read more

Guyana go down 2-0 to defending champions Canada

first_img… We’re down but not out – coach ScottDESPITE a 2-0 loss against defending champions Canada yesterday, Guyana’s head coach Dwayne Scott told Chronicle that his ladies, though being down, are certainly not out of their hunt for a top-four spot in this year’s Pan American Indoor Hockey Championships.Prior to yesterday’s game, Guyana had suffered defeats against Uruguay (4-3) and Argentina (3-0) and in the game against Canada, they were expected to be outplayed, but, the Guyanese women impressed the crowd at the Cliff Anderson Sports Hall with their ‘die-hard’ hockey game.The Canadians entered the clash against Guyana with a 5-1 victory over Barbados and, given their distinct advantage or speed and skills they were expecting a wide margin of victory.Michelle Webber, six minutes into the game put the visitors in the lead with her goal, while Kathleen Leahy, in the 15th minute cemented the Canadians lead.Action between Guyana and Canada at the Cliff Anderson Sports HallGuyana suffered a devastating blow after watching their 18-year-old star Aliyah Gordon fall to the ground after picking up an injury. Gordon is one the best players on the Guyana side but in her absence, the local women matched the Canadians every move.They (Guyana) came close to scoring on several occasions in the second half, but, their attempts were foiled by the Canadians’ stubborn defence and twice the ball had beaten the keeper, but edged off the goal stanchion.“We have proved that we can play hockey with the ‘big dogs’, we’ve proved that we can compete, every one of our games has been a close game. We want to prove to the rest of the hockey nations that we are capable of playing with the very best,” head coach Dwayne Scott told Chronicle after his loss to Argentina.Having failed to secure a win in their three matches, Scott stated, “We’re not disappointed with the losses and we’re coming against some of the best teams playing hockey forever. If you look at the competition we’ve been coming up against and the games we’ve been playing, we still have hope.”Argentina, USA, Canada and Uruguay are all undefeated so far in the tournament, and a herculean task is ahead for Scott’s ladies, since they will have to win their three remaining games to stand a chance to feature in the medal round of the Championships.Up next for Guyana are the win-less Barbados today, and they will wrap up their round-robin play against Trinidad and Tobago tomorrow.last_img read more

Morgan hits record 17 sixes as England thrash Bangladesh

first_imgBy Amlan ChakrabortyMANCHESTER, England (Reuters) – Eoin Morgan rewrote the record books yesterday, clobbering 17 sixes – the most in a one-day international innings – in a blistering century as England crushed Afghanistan by 150 runs in their World Cup match at Old Trafford.Morgan smashed a career-best 148 – with 118 coming from sixes and fours – off 71 balls to power England to 397-6, their highest World Cup total.Even the presence of Afghan President Ashraf Ghani in the stands could not inspire Gulbadin Naib’s men who managed 247-8 before succumbing to their fifth defeat in five matches.Hashmatullah Shahidi (76), Asghar Afghan (44) and Rahmat Shah (46) helped Afghanistan to their highest total in the World Cup but they stay rooted to the bottom of the points table, which England now head after their fourth victory.“Today was a fantastic day for us, and I managed to have a day out, which was great,” man-of-the-match Morgan said.“Hobbling around with a bad back, I didn’t think I’d produce an innings like that,” added Morgan who suffered a back spasm during last week’s win against West Indies.“It makes it a bit more special when I can compete with the youngsters in the side.”Jonny Bairstow smashed 90 and Joe Root made 88, but it was Morgan’s breathtaking six-hitting display that turned the match into a statistician’s delight.Afghan spin spearhead Rashid Khan logged the worst bowling figures in World Cup history – 110 runs off nine overs without a single wicket – illustrating how defenceless they looked against Morgan’s onslaught.After Morgan won the toss and elected to bat, Bairstow walked out with James Vince, his third opening partner in five matches, and they looked largely untroubled against Afghanistan’s modest bowling resources.Jason Roy’s hamstring injury handed Vince an excellent opportunity to impress but the opener fluffed his pull shot against Dawlat Zadran and departed for 26.Root and Bairstow milked the spin-heavy Afghan attack during their 120-run collaboration before Naib intervened.Bairstow was looking good for his first century of the tournament but Naib took a smart return catch to dismiss the opener.Root was his fluent self at one end but Morgan wasted precious little time before going on the rampage.Afghanistan had an opportunity to dismiss the England captain when he was on 28 but Dawlat spilled a skier at deep midwicket, a lapse which is likely to haunt him for a while.Morgan threw caution to the wind and began clearing the ropes with ridiculous ease.His 11th six brought up his 57-ball hundred and there was simply no letup in his aggression even after registering the fourth fastest World Cup century.Rashid bore the brunt of it. Of the 11 sixes he conceded in a highly forgettable outing, seven flew from Morgan’s blade.India’s Rohit Sharma, West Indies’ Chris Gayle and AB de Villiers of South Africa shared the previous record of 16 sixes in an ODI innings.Naib (3-68) finally ended Morgan’s six-hitting spree in the 47th over but England reachedanother milestone on a day of tumbling batting records.Their combined 25 sixes broke England’s own record of 24 in an ODI match as Morgan’s men went on to post the highest total at this year’s tournament.Dawlat’s 3-85 was little consolation after dropping Morgan.“Unfortunately Rashid was expensive and not at his best, so England scored around 400. We did a lot of good things but we dropped Morgan.”ENGLAND innings (50 overs maximum)J. Vince c Mujeeb Ur Rahman b Dawlat Zadran 26J. Bairstow c & b Gulbadin Naib 90J. Root c Rahmat Shah b Gulbadin Naib 88E. Morgan c Rahmat Shah b Gulbadin Naib 148J. Buttler c Mohammad Nabi b Dawlat Zadran 2B. Stokes b Dawlat Zadran 2M. Ali not out 31C. Woakes not out 1Extras: (lb-1, nb-1, w-7) 9Total: (six wkts, 50 overs) 397Bowling Mujeeb Ur Rahman 10-0-44-0, Dawlat Zadran 10-0-85-3, Mohammad Nabi 9-0-70-0, Gulbadin Naib 10-0-68-3, Rahmat Shah 2-0-19-0, Rashid Khan 9-0-110-0.AFGHANISTAN innings (target: 398 runs from 50 overs)Noor Ali Zadran b Archer 0Gulbadin Naib c Buttler b Wood 37Rahmat Shah c Bairstow b Rashid 46Hashmatullah Shahidi b Archer 76Asghar Afghan c Root b Rashid 44Mohammad Nabi c Stokes b Rashid 9Najibullah Zadran b Wood 15Rashid Khan c Bairstow b Archer 8Ikram Alikhil not out 3Dawlat Zadran not out 0Extras: (lb-1, w-8) 9Total: (eight wkts, 50 overs) 247Bowling: C. Woakes 9-0-41-0, J. Archer 10-1-52-3, M. Ali 7-0-35-0, M. Wood 10-1-40-2, B. Stokes 4-0-12-0, A. Rashid 10-0-66-3last_img read more

GFA Elections: Randy Abbey, Anim Addo, Mark Addo elected as Division One reps for EXCo

first_imgFormer GFA Communications Director Randy Abbey has been voted alongside Samuel Anim-Addo and Mark Addo as the Division One League’s representatives on the Associations Executive Committee.With only three spots available for Division One teams, Abbey picked up 26 votes in total, with Mark Addo coming in close second with 25 votes, and Samuel Anim Addo, who is the manager of former Black Stars captain Asamoah Gyan clinching 19 votes.They beat of stiff competition from some very well established and experienced names in Ghana football including Eric Eyiah, King Faisal Bank Roller Alhaji Grusah, and Otuo Acheampong Barima Boadu.The final results are as follows:Randy Abbey – 26Mark Addo – 25Samuel Anim Addo – 19Otuo Acheampong Barima Boadu – 14Gideon Fosu – 17Alhaji Grusah – 10Justice Boison – 13Kweku Eyiah – 7Eric Oppong Yeboah – 4The new GFA ExCO has five spots for Premier League teams with the Division One League getting three spots.In all, a total of 11 places will go the reps of various entities such as the Premier League, Division One, Women’s Football and the Regional FAs.last_img read more