Steven Maijoor, chair of ESMA, said: “Climate change is a reality. Financial market regulation needs to reflect this by integrating sustainability considerations. Source: ESMA“Climate change is a reality. Financial market regulation needs to reflect this by integrating sustainability considerations”Steven Maijoor, ESMA“To support the European Commission in this area we have advised on the level of sustainability considerations in the credit rating market, indicating that as demand for sustainability assessments increases, so does the need for vigilance on the levels of investor protection.”Last year, in the context of its sustainable finance action plan, the Commission charged ESMA with assessing current practice within the credit rating market concerning sustainability considerations.The watchdog appears to have effectively rejected this task, however, saying in its report to the Commission that credit ratings were not sustainability assessments and that it was therefore “not possible to assess the practice of sustainability considerations in a market that is not measuring sustainability characteristics”.In addition, the consideration of ESG factors as part of a credit rating “does not infer that the credit rating can be construed as providing an opinion on the sustainability or otherwise of an issuer or entity”.ESMA had instead focused on what was possible to assess, it said, namely the extent to which “factors that are classified as either environmental, social or governance factors are considered within CRAs’ credit assessments”.It found that CRAs were considering ESG factors in their ratings but that the prevalence and frequency of this depended on the agencies’ methodology.In addition to releasing its technical advice to the Commission, ESMA published its final guidelines on disclosure requirements for CRAs, which it said should “improve the transparency of CRAs’ consideration of ESG factors in their credit rating press releases and reports”.“This will allow the users of ratings to better assess where ESG factors are affecting credit rating actions,” said ESMA.The Principles for Responsible Investment has been working on an initiative to enhance the transparent and systematic integration of ESG factors in credit risk analysis.Carmen Nuzzo, the organisation’s head of fixed income, said ESMA was right to recommend not to amend CRA regulations to mandate the consideration of sustainability because CRAs had to include ESG factors in their credit rating opinions only when they were material to what the agencies measured, namely credit risk.“Having said this, it is important that CRAs systematically include these factors and signpost clearly when these are relevant and contribute to their assessments,” she added. “ESMA’s conclusion to assess whether there are sufficient regulatory safeguards in place for other sustainability-dedicated products is also important, as at the moment these products are not regulated and their methodology is not very transparent.” Credit rating agencies should not be explicitly required to consider environmental, social and corporate governance (ESG) factors when assessing issuers’ creditworthiness, according to the EU financial markets watchdog.Amending the EU regulation governing credit rating agencies (CRAs) in this way would be “inadvisable” because of the specific role credit ratings continued to play within the financial system, said the European Securities and Markets Authority (ESMA), noting that key pieces of sectoral legislation still contained mechanistic references to credit ratings.However, the EU supervisory authority said it could be useful to amend the regulation governing CRAs to provide a more consistent level of transparency around how they considered ESG factors in their credit assessments, and ensure the CRA regulatory framework kept pace with ESG developments in other areas.ESMA also suggested that the European Commission could assess whether there were sufficient regulatory safeguards in place for products and entrants into the market that were likely to emerge from the EU executive’s ESG push.
“That’s probably the worst road trip most … Click HERE if you’re having trouble viewing the gallery on your mobile device.MILWAUKEE–Don’t give in.It’s the mentality Giants ace Madison Bumgarner took into a sixth inning battle with Brewers cleanup hitter Ryan Braun, and the approach Milwaukee took into a three-game series with San Francisco.Bumgarner refused to give in to Braun. And the Brewers refused to give into the Giants, finishing off a three-game sweep with a 6-3 win Sunday.
“The success of renewable energy hinges on the financial sector,” she said, adding that bidders that were having trouble before the financial close to speak up. “I would want to appeal to those bidders that are already experiencing challenges to come to the fore. It is an appeal for the benefit of the number of jobs that will not be realised if there’s no financial support,” said Peters. In December, the Industrial Development Corporation (IDC) announced that it will finance 12 of the 28 preferred bidders to contribute to the country’s energy mix. The financing will be to the tune of R5.2-billion. Meanwhile, Peters said the department has started talking to financial institutions. “Job creation per province, we’ve seen a small reduction from bid window 1 but the bidders have indicated that on the total 7 059 jobs created in the construction period and 328 jobs created in the operation of the life of the plant,” said Magubane. “In this window, the department received 79 bids of which 51 met the qualification criteria as per the Request for Proposals. Given the megawatts limitation and competition, only 19 bidders were selected as preferred bidders for Window 2,” Energy Minister Dipuo Peters said in Pretoria on Monday. Growing the economy In the first window some of the challenges faced by bidders were that they had trouble reaching the financial close, of which June is the financial close for window1 project proposals. The minister said there had been informal conversation regarding companies experiencing financial strain. “With them not coming to the fore this would mean that we’re not going to deliver on the megawatts that we want,” she said. According to the IRP2010 – which is a 20-year projection on electricity supply and demand – about 42% of electricity generated in South Africa is required to come from renewable resources. The department has set aside 100MW of the 3 725MW for smaller projects of less than 5MW. Of the selected bidders, nine were selected for the solar photovoltaic technology, seven for wind, two for small hydro and one for concentrated solar thermal (CSP). 23 May 2012 Additionally there have been significant increases in the local content from 28.5% in window 1 to 47.5% in bid window 2 in solar photovoltaic technology. The Integrated Resource Plan (IRP2010) places specific emphasis on broadening electricity supply technologies to include gas, imports, nuclear, biomass, renewables (wind, solar and hydro), in response to both the country’s future electricity needs as well as reduce its CO2 emissions. For small hydro 13.3MW has been taken up from a maximum allocated for round 2 at 75MW while for CSP the allocated maximum 50MW has been taken up. In the 2nd window a total 1 043.9MW has been taken up by bidders. Ompie Aphane, Deputy Director General for Electricity, Nuclear and Clean Energy at the department said the department was not sure of the amount of projects that were in financial strain. Last year, the Department of Energy announced 28 preferred bidders, out of a total of 53 applications for the IPP bid process in the first window. Japser Power Company, Solar Capital De Aar 3 and Sishen Solar Facility were among the bidders selected for solar photovoltaic technology; while West Coast 1 and Grassridge form part of the 7 selected for wind and Stortemelk Hydro (Pty) Ltd and Neusberg Hydro Electric Project A were selected for small hydro. For CSP Bokpoort CSP project was selected. The department has noted that under window 2, the level of commitment to economic development has improved compared to window 1. “More communities will benefit through employment or as shareholding in these projects,” said the minister, adding that most bidders in window 2 will establish community trusts aimed at developing surrounding communities. What the department had noted, said Director General Nelisiwe Magubane, was that there were “significant” changes in several areas like pricing whereby in solar photovoltaic in window 1 on average was at about 2.75 per kWh. “We’ve seen a significant reduction in price of about R1.65 per kWh for window 2,” she said. Projects allocated The department has yet to decide on when bidding will commence for projects to take part in window 3. A full list of bidders is available on the Independent Power Producers programme website. Peters said government saw the programme as an opportunity to grow the economy given the numbers of unemployed people while the procurement of alternative energy is also aimed at alleviating energy constraints. Appeal to financial sector Integrated Resource Plan For Solar photovoltaic 417MW have been taken up by bidders with the maximum MW allocated for round 2 at 450; for wind 562.5MW has been taken up with the maximum allocation at 650MW. The names of 19 bidders – who have been selected as the preferred bidders for Window 2 of the Renewable Energy Independent Power Producers (IPP) programme that will contribute to South Africa’s energy mix – were announced on Monday. The bidding for window 2 closed on 5 March with the total 79 bids received. These bids amount to 3 255MW while the cap was at 1 275MW. Source: BuaNews Peters appealed to the country’s financial sector to provide financing to bidders. South Africa wants to procure 3 725MW of renewable energy through this process. The programme also seeks to make provision for local content in the provision of alternative energy sources while the bids were evaluated by technical, financial, legal and international reviewers. The minister called on prospective bidders for the remaining three windows that they need not necessary own the land on which projects will operate on. Bidders could co-exist. “We don’t want to lose arable land,” said Peters adding that bidders could share the same piece of land with farmers.
9 July 2013 Activity in South Africa’s green building sector has surged in recent months as the government, businesses and developers in the country increasingly embrace sustainable building practices. According to the Green Building Council of South Africa, June 2013 alone saw six green building certifications, bringing the total number of Green Star-rated buildings in the country to 36. “The GBCSA is very encouraged to see this spike in the number of buildings achieving Green Star SA ratings,” the organisation’s chief executive officer, Brian Wilkinson, said in a statement last week. “We are confident that the green building movement in South Africa will continue this upward trajectory and that we will increasingly see green building practices becoming the norm.” These Green Star-rated buildings include the Environmental Affairs Department’s head office in Pretoria, which scored the highest rating possible at six stars and was a first for a government-owned building in the country. “Hyundai’s new head office, situated in Bedfordview, is another exciting development to receive a Green Star Rating as it signifies buy-in and commitment to sustainable practices from this large motor corporation – the first green building rating in South Africa achieved within this sector,” the GBCSA said. Nedbank’s Menlyn Maine Falcon Building in the Menlyn Maine Precinct in Pretoria scored a five-star rating, and all buildings in the precinct will be required to achieve a minimum four-star rating. It is also the first project in Africa to be registered with the Clinton Climate Initiative, a programme of the Bill, Hillary and Chelsea Clinton Foundation. The initiative is a strict rating mechanism to evaluate the carbon neutrality of a project. “The industry is embracing this absolutely necessary shift towards sustainable practices and it is exciting to be part of this change,” Wilkinson said. SAinfo reporter
27 February 2014 The South African government will build 216 000 houses and connect 905 000 households to electricity over the next two years, Finance Minister Pravin Gordhan told Parliament on Wednesday. This is in addition to other housing schemes the state has embarked on in partnership with the private sector and public-private development institutions. Delivering his fifth Budget speech in Cape Town, Minister Gordhan said the housing budget for the 2013/14 financial year was R143-billion. Between 1994 and 2013, the government built over 2.7-million houses across South Africa. The National Development Plan (NDP) recommends that responsibility for housing shift to the country’s municipalities in order to improve coordination. All metro municipalities have been directed to implement housing programmes. The Human Settlements spending focus over the next two years will be on transferring grants to provinces and municipalities to fund the delivery of low-income housing, the purchase of land to upgrade informal settlements, and the upgrade of some informal settlements, Gordhan said. The urban settlements development grant is expected to deliver more than 215 000 housing units and upgrade 92 000 services sites in informal settlements. The integrated city development grant, which is being introduced in this year’s Budget, will ensure that large, low-income communities on the urban edge are better connected to centres of economic and social activity through investments in public transport. The Treasury says municipalities will receive the grants on condition that they produce built environment plans and that these plans support better coordination of investments and are aligned to national development plans. Source: SAnews.gov.za
Oxford boss Robinson delighted with Cup rout of West Hamby Paul Vegasa month agoSend to a friendShare the loveOxford United boss Karl Robinson was delighted with their 4-0 Carabao Cup rout of West Ham.During his tenure as MK Dons boss, the 39-year-old knocked out Blackpool and Norwich when they were in the Premier League before recording a famous 4-0 win over Manchester United in the third round five years ago.Robinson also triumphed over QPR – when they were in the top flight – in the FA Cup, but played down his cup exploits.”I just like winning football matches, no matter who you play against. I think one thing my teams always do is show tremendous respect for the opposition, but we never change our style,” Oxford’s manager said.”We almost in a stupid way match them at their own game and sometimes it doesn’t work.”I’ve been battered 6-0 in this competition by Southampton. I’ve also been beaten 5-1 by Chelsea in the FA Cup, so there have been a few hidings, but these are the ones you remember for the rest of your life.”Before the game I said I think I have some Premier League youngsters in my team and if you look at our age, we were younger than West Ham.”We don’t only have an older group of players who want to run around, but we have a young team with tremendous growth thanks to the academy and the players we have brought in so I can’t ask for any more from my players.” About the authorPaul VegasShare the loveHave your say
Advertisement Advertisement Advertisement Twitter “By exploring the rich cultural diversity of Canada through an intricate tapestry of storylines, 21 Thunder will export Canadian values of tolerance and opportunity to international audiences worldwide,” said executive producer Michael Levine.In the cutthroat world of pro soccer, a club lives and dies by the stars on its under-21 team. They are the future and lifeblood of any franchise, but most will never make it. 21 THUNDER is the story of the Montreal Thunder U21 team, following the team’s star players on and off the field. A story of love, crime, race, sex and athletic glory, at its core the series is about how a group of players and coaches unite as family in the whirlwind of life, one step away from the pros.Helping to coach the team are Christy Cook (Stephanie Bennett, The Romeo Section, Descendants), an Olympic soccer hero forced on the team for PR reasons; and Davey Gunn (former Scottish footballer Ryan Pierce, who played as Ryan O’Leary), an international soccer superstar who is on the run from both the paparazzi and his past. The team consists of striker and former gang-member Nolan Gallard (RJ Fetherstonhaugh, Wayward Pines); Ivory Coast midfielder Junior Lolo (Emmanuel Kabongo, Hemlock Grove), a brilliant new arrival; and team captain, goalie and academic prodigy Alex el Haddadi (Andres Joseph, The Flash). Together they strive under notorious coach Albert Rocas (Conrad Pla, 19-2) to win games for the club, and a future for themselves.Commissioned by CBC, 21 THUNDER is produced by PMA Productions and Generic Productions, and executive produced by Kenneth Hirsch (Extraordinary Canadians, Outbreak: Anatomy of a Plague), Michael Levine (Republic of Doyle), Adrian Wills (The Surrogacy Trap, All Together Now), Riley Adams (Crossing the Rubicon: The Journey, Flashpoint) and Malcolm MacRury ( Republic of Doyle, Saving Hope), who also serves as showrunner. Riley Adams is co-creator along with Kenneth Hirsch and Adrian Wills.-30- About CBC/Radio-Canada CBC/Radio-Canada is Canada’s national public broadcaster and one of its largest cultural institutions. We are Canada’s trusted source of news, information and Canadian entertainment. Deeply rooted in communities all across the country, CBC/Radio-Canada offers diverse content in English, French and eight Indigenous languages. We also provide international news and information from a uniquely Canadian perspective. Facebook Login/Register With: LEAVE A REPLY Cancel replyLog in to leave a comment CBC has commissioned 21 THUNDER, a new original eight episode, one-hour drama series from PMA Productions and Generic Productions. Set in Montreal, the series takes viewers into the fiercely competitive and high-stakes world of an under-21 soccer academy, following the players and coaches who risk it all for a shot at the pros. Production started in late August in Montreal and will continue until November 15, with the series set to premiere in summer 2017 on CBC.“We are excited to be working with the team at PMA and Generic to pull the curtain back on the thrilling and high pressure world of elite sports,” said Sally Catto, general manager, programming, CBC Television. “This riveting drama will offer audiences a fresh and diverse perspective on the world’s most popular sport, and what it takes to play ‘the beautiful game’ at the pro level.”“We share CBC’s commitment to delivering an adrenaline-fuelled series that will appeal to viewers across all platforms, and attract the attention of new audiences eager for gripping, serialized dramas featuring the stories of millennials with big dreams,” said executive producers Malcolm MacRury and Kenneth Hirsch.
CALGARY – Investment firm AltaCorp Capital Inc. says its founder and CEO, Calgary oil and gas financier George Gosbee, died suddenly on Sunday.Gosbee was a former governor of the National Hockey League and, in 2013, led a group to purchase the Arizona Coyotes and restructure the team. Current team owner Andrew Barroway tweeted he was “deeply saddened” by the news.Gosbee, 48, founded AltaCorp Capital in 2010 and struck a deal to partner it with ATB Financial, an Alberta government-owned lender.In 2000, he helped found Tristone Capital Global Inc., an energy investment firm which he and his partners sold in 2009 to Australia’s Macquarie Group for about $130 million.Gosbee served as vice-chairman of Alberta Investment Management Co., which manages $90 billion in provincial government pension funds, for eight years.AltaCorp says president Paul Sarachman will assume the role of CEO.
The following story contains photographs with mature subject matter. Reader discretion is advised.FORT ST. JOHN, B.C. – A speculated cougar attack over the weekend left multiple goats dead in Charlie Lake.The attack occurred sometime Sunday night or Monday morning in the Tea Creek area near the intersection of Highway 29 and the 279 Road. Chris Posthuma with the Conservation Officer Service explained that officers will be starting an investigation to determine whether the animal in question was a cougar or another type of animal. Posthuma added that if they are able to verify that it was a cougar, the next step would be to set traps to monitor the animal.“Typically once an animal goes to an easier food source they will be more likely to come back to the area,” said Posthuma.Photos of the attack’s aftermath were posted on a local Facebook group, but Posthuma is urging residents to forgo such posts on social media, as they don’t notify the C.O.S. that an attack occurred.He said that the best way to report such incidents is to call the Report All Poachers and Polluters (RAPP) Line at 1-(877)-952-7277. Photos posted on a local social media group showing the aftermath of a suspected cougar attack in Charlie Lake. Photos posted on a local social media group showing the aftermath of a suspected cougar attack in Charlie Lake.
A caller, who wished to remain anonymous, said that on Wednesday evening, they encountered a family travelling in a dark-coloured SUV or crossover vehicle stopped at a gas station in Dawson Creek trying to sell gold jewelry for gas money.The caller said that after selling their wares to at least one person, they noticed that the family did not end up buying gas, but left the gas station headed towards Fort St. John or Chetwynd.Cpl. Kading stated in the release that while the St. Albert RCMP cannot say for sure that the jackets and gold are worthless, officers are warning the public that it is “Buyer Beware” in these kinds of transactions.“Don’t become the proud owner of ‘Fool’s Gold,’” she added. FORT ST. JOHN, B.C. – A jewelry scam that has been reported in the Edmonton and Grande Prairie areas could also be surfacing in the B.C. Peace Region.In a press release issued Wednesday, Corporal Laurel Kading with the St. Albert RCMP said that the detachment was recently made aware of a possible scam in the Edmonton area in which people offer to sell gold rings and gold chains from their vehicle in order to get money for gas.The scammers tell would-be victims that they are travelling across Canada, and are selling a large number of gold rings or necklaces so they can continue their trip. With files from EverthingGP.com: https://everythinggp.com/article/535936/jewellery-scam-surfacing-grande-prairie-region Cpl. Kading explained that there is no way of verifying the value of these rings or chains, especially when they are being sold from a vehicle in a parking lot or on the side of a highway.She added that a similar scam involving selling “designer” leather jackets from a vehicle in a parking lot seems to return to St. Albert every so often and catches some residents unaware.As reported by EverythingGP.com, the scammers also appear to have made their way to the Grande Prairie area.In a post on their Facebook page, Janina’s Jewellers in Grande Prairie said that over the past few weeks, it has seen an increasing number of people coming in to have the authenticity of jewellery checked, which after an inspection turns out to be fake.According to a news tips received by Energeticcity.ca on Thursday morning, the scammers may now have been spotted in the B.C. Peace Region.