UK minister reassures on pensions bill, challenges and chides on ESG

first_imgThe rest of the minister’s speech was mainly about “ESG” – climate change was name-checked – and pension funds’ responsibilities and power in this regard.If pension funds’ were genuinely committed to being long-term investors, ESG “has to dominate” because otherwise there won’t be a long-term, said Opperman.‘Hogwash’ ideasWhilst some trustees were taking action, others were not, and “sometimes we seem to be in a state of learned helplessness,” he added.According to Opperman, “a very senior member” of the PLSA – the UK’s main pension fund association – had spoken about trustees being very limited in what they could do and the danger of spending a lot of time talking about ESG.This, Opperman said, was “hogwash”.“If trustees and asset owners cannot do anything, where do they think the power lies, and also, what are you doing in the job?,” he said.“As I always say, if you want to change the world, there’s one really simple thing: look in the mirror,” Opperman told delegates.He argued the UK government was “doing a huge amount to decarbonise” and said “it has to be asked: what are you doing?”.He suggested trustees should fire asset managers “struggling to have an impact” – for example those who did not support climate resolutions. The UK pensions minister today said the early general election does not spell the end for recently introduced workplace pensions legislation, and that pension scheme trustees have the power to change the world, and should use it.Guy Opperman made the comments in a speech delivered to delegates attending a conference held by the Association of Member-Nominated Trustees (AMNT), whose co-chair David Weeks described the session with the minister as a “humdinger”.On the pension schemes bill, whose legislative passage has been interrupted by the vote for a general election in December, Opperman said it had cross-party support and that whatever government the election produces “in my view can and will bring [it] forward”.“So whilst there has been a pause it does mean to say that this bill ceases to exist or that it will not continue,” he said. Source: PLSA“Your capacity to make a difference is immeasurable. I urge you to use it”Guy Opperman, pensions minister“You have so much power,” the minister told delegates. “Your capacity to make a difference is immeasurable. I urge you to use it.”TCFD disclosure guidance ‘coming soon’Opperman then spoke about the Task Force on Climate-related Financial Disclosures (TCFD), saying that although there was a government expectation for large asset owners and listed companies to disclose in line with the TCFD’s recommendations by 2022, pension fund trustees should not wait.It could be “a badge of honour” to disclose before 2022.His view was that TCFD-aligned reporting should be made mandatory, Opperman said. He told delegates the Department for Work and Pensions would be delivering guidance on this soon and that he wanted to “empower trustees to challenge their investment managers and ultimately deliver real change in the companies they invest in”.A government spokesperson did not respond to queries from IPE about this guidance by the time of publication.Delegates also heard Opperman say he wanted to see “more of a mixed economy develop in the exercise of voting rights and engagement,” encouraging trustees to sign up to the UK’s new Stewardship Code .According to the minister, one of the Code’s principles for asset managers and asset owners “creates the expectation that asset managers will comply in aligning their stewardship and investment approaches to the trustees that have hired them, or explain why not”.Opperman has in many ways taken up the cause of the AMNT that fund managers need to accept client voting policies in pooled fund arrangements. The association in May urged the Financial Conduct Authority (FCA) to investigate this “market failure”, and this week called on the regulator to respond positively to its complaint.According to Opperman, the regulator was due to hold workshops with asset owners next year to hear about voting and stewardship issues from their perspective.last_img read more

Police investigating death in Osgood

first_imgOSGOOD, Ind. — The Ripley County Sheriff’s Department along with the Osgood Police, the Indiana State Police, and the Ripley County Corner’s Officer are investigating a death in Osgood.According to Police on Sunday, police responded to a 911 call regarding a male who was possibly deceased.When personnel arrived, they found Scott Manis Sr., 50, and declared him deceased on the scene.An autopsy was performed on Monday, but the results have not been released.last_img

No. 11 Syracuse struggles continue in 16-11 loss to No. 8 Princeton

first_img Facebook Twitter Google+ Published on March 29, 2017 at 9:51 pm Contact Nick: | @nick_a_alvarez No. 11 Syracuse (8-4, 2-1 Atlantic Coast Conference) lost its fourth in five games as the Orange fell to No. 8 Princeton (7-1, 2-0 Ivy League), 16-11, on Wednesday night. The Princeton offense, ranked 14th in the nation, shredded an Orange defense that has struggled of late. Syracuse gave up at least 15 goals for the sixth straight game.Star midfielder Taylor Gait did not play in her fourth straight game.SU conceded seven goals in the first 15 minutes. Olivia Hompe led the Tiger attack, netting seven goals and assisting two others.After Riley Donahue opened the scoring 1:31 into the game, the Tigers followed with a 9-1 run. The Orange responded with four goals but the Orange defense failed to keep the game close.“Taking a couple bad shots led to transition chances the other way,” SU head coach Gary Gait said. “Sometimes its bad luck, unlucky scenarios … it bit us.”AdvertisementThis is placeholder textGoaltender Asa Goldstock posted her second worst save-percentage of the season (.273) and only saved six shots. Her counterpart, Ellie DeGarmo, saved 18.The teams were tied in shots (33) and ground balls (17). SU had eight free-position shots, yet only scored three times. Syracuse had more draw controls, 16-13, and less turnovers, 16-18, yet still failed to stop the Tigers.Emily Hawryschuk recorded her third hat trick of the season, bringing her season total to 18. Donahue added three goals, bringing her career total to 97.Syracuse continues its last road trip of the season against Duke on Sunday in Durham.“We are young and we are trying to figure it out,” Gary Gait said. “We are not on the same page.” Commentslast_img read more

FACEIT to host first CS:GO Major in London, $1 million on the line

first_imgLondon is finally going to be home to a Counter-Strike: Global Offensive Major for the first time on September 20th-23rd. FACEIT will host the prestigious event at the SSE Arena, Wembley.10,000 fans will get the opportunity to see the best players and teams in the esport compete for a colossal prize pool of $1,000,000 (£716,180). Not only that, they will face off for the title of Major champions, which carries serious weight considering there have only been twelve Majors thus far.As well as hosting the top 24 teams in London, FACEIT will include new – and currently unannounced – features for the live broadcast to improve the viewing experience for fans who can’t be at the arena. Tickets for the FACEIT London Major will be available for purchase from April 2nd.Michele Attisani, Chief Business Officer and Co-Founder of FACEIT said the following about London’s first CS:GO Major: “The community has been at the heart of everything we do at FACEIT, and we’re so grateful for the support of the players on our platform and those who’ve attended and watched ECS. We’re excited to create an amazing celebration of CS:GO to honor that commitment. We look forward to seeing everyone there in September.”Esports Insider says: It’s incredible to see FACEIT go from hosting small, monthly competitions to a Major event in the capital of England. Hopefully the venue proves to be a great host so it won’t be the only time London hosts a huge CS:GO event such as this.last_img read more