Pressure From Institutional Investors for Better Climate-Risk Metrics

first_img FacebookTwitterLinkedInEmailPrint分享SNL:Major asset managers are actively assessing environmental, social and governance risk factors in their portfolios to satisfy the demands of institutional clients, putting momentum behind the adoption of sustainable accounting standards by larger corporate entities.The lingering question behind initiatives to integrate these environmental, social and governance, or ESG, standards in investment portfolios centers around an absence of what can be defined as ESG material risks to a company’s performance and how such risks should be disclosed to shareholders in securities filings.While the broader universe of public companies have been resistant to making additional disclosures, a growing number of institutional investors and asset managers are taking it upon themselves to advocate for ESG factors from the buy-side as a starting point, putting pressure on corporate issuers to accommodate their demands, panelists observed Nov. 30 at the Sustainability Accounting Standards Board, or SASB, symposium in New York.“In 2017, the conversations have really changed, where there is a lot of interest in true ESG integration at the portfolio level,” State Street Global Advisors Executive Vice President and Chief Investment Officer of Global Equity Beta Solutions Lynn Blake said, speaking at the SASB forum. “There are certain regions around the world where ESG integration is table stakes … and the U.S. is probably the laggard in these conversations.”SASB, which released its “State of Disclosure” report at the event, aims for its framework to give specific sectors guidelines for which ESG factors could be considered material risks. The report highlights the existing disclosures made by major public companies, despite the lack of a standardized framework, and advocates for uniform standards.Similar efforts have begun cropping up in certain industries, with PPL Corp.’s Vice President for Public Affairs Christine Martin noting at the SASB forum that it is among the companies contributing to a forthcoming effort by the Edison Electric Institute to standardize disclosures related to greenhouse gas emissions and climate risks across the regulated utilities industry.Though what constitutes ESG risk factors for a company may not always be clear initially, a push to develop more consistent metrics across different industries appears to be emerging.More ($): Fund managers assess ESG risks, pressuring corporations for greater disclosure Pressure From Institutional Investors for Better Climate-Risk Metricslast_img read more

Stop Wasting Time Working At Work…

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Indictments reflect Trump’s poor judgment

first_imgCategories: Editorial, OpinionThe following editorial appeared in the Dallas Morning News: President Donald Trump would like Americans to believe the indictment of former campaign manager Paul Manafort is no big deal. “Today’s announcement has nothing to do with the president and nothing to do with the president’s campaign,“ press secretary Sarah Huckabee Sanders told reporters.  Besides, it’s early yet. Later Monday, word came that another campaign figure, senior foreign affairs adviser George Papadopoulos, has pleaded guilty to lying to the FBI when it asked him in January about his contacts with Russian intermediaries.He told the FBI he had known those Russian contacts before he ever came aboard the campaign.But that was a lie. Trump immediately insisted that the alleged crimes by his former campaign manager took place “years ago and before Paul Manafort was part of the Trump campaign.“But not according to the indictment.Right there on the first page, it alleges that Manafort’s vast money-laundering scheme stretched from “at least 2006 through 2016.“ He is also accused of lying to the FBI about his work for Ukraine last fall and again earlier this year.  That’s not “years ago.“ That’s practically yesterday. It’s common for prosecutors to use tax fraud charges, and perjury too, to squeeze a defendant against whom they can’t prove an underlying cases.Call it the Al Capone strategy. But what’s so important about the tax charges against Manafort is why he was hiding all that income.And where all the income was coming from. Before he ran Trump’s campaign, he and his companies spent years boosting pro-Russian forces within Ukraine.When one of his clients was elected president there, the indictment alleges, he began hiring lobbyists back in the U.S. to advance Ukraine’s interests before Congress.  That prompted guffaws, obviously, across social media — plus a quick demand by Rep. Joaquin Castro, D-San Antonio, for Sanders to resign for the “outright lies“ she has told. Manafort was indicted, along with an associate, on tax fraud, money laundering and other federal charges tied to millions of dollars in secret payments from pro-Russian forces within Ukraine dating to 2006. It’s true that Monday’s charges don’t prove the more serious questions at the heart of Special Counsel Robert Mueller’s investigation.They don’t prove that Trump or his team colluded with Russia to win last year’s election.And they don’t prove that Trump fired FBI Director James Comey because he refused to stop investigating the possibility of collusion. But nothing to do with Trump?Sanders can’t be serious.  That wouldn’t have been illegal. Maybe awkward to explain in a U.S. presidential campaign, but not illegal.But before you can lobby the U.S. government on behalf of a foreign power, our laws require you to come clean about the relationship, how much you’re being paid and for what. The indictment alleges that he failed to register, instead conducting all that business through a worldwide maze of partnerships, accounts and banks. Will this be the first of many indictments?It’s too soon to say.But it casts Trump, who claims to be such a smart people picker, in extraordinarily poor light. More from The Daily Gazette:EDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Find a way to get family members into nursing homesEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Beware of voter intimidationFoss: Should main downtown branch of the Schenectady County Public Library reopen?last_img read more

Marshalltown reschedules Dale DeFrance Memorial to July 9

first_img“With inclement weather on the way and drivers coming from a long distance, we needed to make the call early,” explained promoter Toby Kruse. “We will have information to follow regarding the make-up date as it becomes ready.” MARSHALLTOWN, Iowa (June 9) – Wet weather will be the winner tonight at Marshalltown Speedway and the result is the postponement of the Dale DeFrance Memorial to Thursday, July 9.  The 500th and final Summer Series event for IMCA Late Models will be part of that program, with other divisions to be announced. The Speed Shift TV Dirt Knights Tour for IMCA Modifieds event will not be rescheduled to that evening. last_img read more