IORP II to require assessment of environmental, resource risk of investments

first_imgPension funds will be forced to conduct assessments of the climate, resource and environmental risk associated with holdings under proposals outlined in the revised IORP Directive.The revised Directive offers details on how pension funds should assess risk, stating that they should be required to produce risk evaluations any time there is a “significant” change in the institutions’ risk profile and examine overall funding needs, sponsor support and operational risks.In what will be viewed as a victory for asset managers including Generation Investment Management and the UK lobby group ShareAction, those subject to new risk-evaluation requirements would also need to place an emphasis on environmental concerns.Generation IM has previously called on investors to sell all their fossil fuel investments due to the risk of “stranded carbon assets” – essentially the financial risk posed by companies being unable to exploit carbon-heavy natural resources due to greenhouse gas reduction targets. The Directive calls for a “qualitative assessment of new or emerging risks relating to climate change, use of resources and the environment”.Caroline Escott, head of government relations at UKSIF, said the risks to investment from climate and environmental trends were “material”.“Responsible investors have long led the way in incorporating ‘stranded asset’ issues into their thinking, and the Commission’s proposals appear to be a positive step towards providing EU countries with the sustained economic recovery they desperately need,” she said.“It is particularly vital for pension funds as significant asset owners to lead the way and use their purchasing power to effectively channel the funds in ways that protects value and drives a more sustainable economy.”ShareAction chief executive Catherine Howarth also welcomed the move.“If the European Commission is taking steps to make pension funds evaluate and manage these risks carefully in the interests of the future income and security of European pension savers, it is an important development and one that we welcome,” she said.Responsibility to specify the elements covered by the new risk evaluation system will fall to the European Commission, which, through a forthcoming delegated act, will instruct the European Insurance and Occupational Pensions Authority to draw up the required technical standards.However, in a seeming admission that the introduction of solvency requirements could only occur through a further revision of IORP, Article 30 of the Directive stated that the delegated act would not seek to impose “additional funding requirements beyond those foreseen in this Directive” – potentially a recognition of the industry’s fears that EIOPA could introduce solvency requirements through the “back door”.The Commission has scheduled to review IORP II four years after its implementation to “assess in particular the application of the rules regarding the calculation of the technical provisions, the funding of technical provisions, regulatory own funds, solvency margins, investment rules and any other aspect relating to the financial solvency situation of the insitution”.last_img read more

Sr. Margaretta Black O.S.F.

first_imgSr. Margaretta was born to Milton and Hedwig (nee: Poppe) Black in Chicago, Illinois where the family resided until she was three, and they moved to Indianapolis where she graduated from St. Joan of Arc School and St. Mary Academy. Margaretta often recalled her daily walks to school, Saturday movie matinees for 10 cents, streetcar rides to town, and victory gardens among her favorite childhood memories. The daughter of a German mother and first-generation father dedicated much of her life to education and was a graduate of Marian University, University of Cincinnati, Case Western Reserve University and the University of Wisconsin where she earned her doctorate degree.Margaretta taught in the Catholic elementary schools for eight years after which time she moved to the high school level, teaching French, religion and history.  Shortly thereafter she began her thirty nine years of ministry at Marian University serving in such roles as French Professor, Academic Dean, Project Manager, Chair of the Language Department and Director of Study Abroad.  She also served on the Marian University Board of Trustees as secretary and later as a member of the Board.Many speak of Margaretta as a gentle soul, purposeful, quick wit, and appreciation of flowers and beauty.  She liked to knit, sew, crochet and cook.  She loved the theatre, opera, country music and singing in the choir.  Visiting her Chicago cousins brought special joy.  Sipping a cup of hot tea, while reading a French novel, was a delight.  She was creative, a woman with a brilliant mind, prayerful, peaceful, private, and a very loving person.In reflecting upon her life, the Franciscan noted, “It has been a wondrous process of learning and living the evangelical life.  It has meant ministry through teaching and counseling, in music and in leadership positions.  It has given me a religious family rich in talent, irritatingly human, and delightfully solid.” In her later weeks of earthly life, Margaretta faced her human condition and spoke of going to her eternal home, her union with God.  She was ready to be called.  For God says, “Welcome home!  You are precious in my eyes and glorious and I love you.”    She is survived by cousins and preceded in death by her parents.  Visitation is Tuesday, September 5th, from 1 – 3 p.m. at the convent chapel in Oldenburg.  Funeral services follow at 3 p.m. with Rev. Bill Turner officiating. Memorials may be made to the Srs. of St. Francis, P.O. Box 100, Oldenburg, IN, 47036 (www.OldenburgFranciscans.org).  Weigel Funeral Home is in charge of arrangements.last_img read more

Eredivisie option for Man City attacker Arzani

first_imgManchester City are set to ship Daniel Arzani on loan to the Netherlands. According to the World Game, the 21-year-old has flown to Europe over the weekend and will land in the Netherlands.Advertisement read also:World Cup squads: Ezenwa named among domestic players He is rumoured to be joining a mid-tier club in the Eredivisie. City has an agreement with NAC Breda to develop their youngsters. FacebookTwitterWhatsAppEmail分享 center_img Loading…last_img

Simeone confirms Hernandez interest

first_imgAtletico Madrid coach Diego Simeone has admitted his side are still interested in signing Manchester United striker Javier Hernandez. The Spanish champions have already brought in forwards Mario Mandzukic and Antoine Griezmann this summer to compensate for the departures of Diego Costa, David Villa and Adrian Lopez, but Simeone revealed he is still looking for an extra forward. Although an instant hit when he first arrived at Old Trafford, Hernandez has struggled to get into United’s first team in recent years, starting just 15 Premier League games in the last two seasons. However, Simeone still believes the Mexico international would be an asset to his side. “He’s great in one-on-one situations and he’s someone who could be useful to any team,” the Atletico coach told a press conference in Mexico, ahead of his team’s pre-season friendly with Club America. “We are speaking to the sporting directors about the type of player we want and then it’s up to them to bring the player in. With Javier Hernandez and lots of other great players, anything is possible. We can’t close any door until the transfer window shuts.” Simeone also praised new arrival Griezmann, who officially joined Atletico from Real Sociedad on Tuesday for an estimated 30million euros (£24m), saying that the Frenchman was a more versatile player than Diego Costa, his side’s top scorer last term who signed for Chelsea earlier this summer. “Costa gave us speed, power and the chance to counter quickly, but Griezmann gives us more options,” said the Argentine. “He has enormous power and we’ll have to see where he can perform best for us. At Real Sociedad and with France he’s played on the wing so we’ll see how he adapts to the team.” And Simeone insisted he was not interested in taking the vacant Argentina job after Alejandro Sabella announced he would not be staying in the job, but admitted he would like to take charge of his country in the future. “I have been committed to Atletico for a long time, they are the club that opened the doors of Europe to me and made me grow as a coach,” he said. “I’m focused on Atletico and not thinking about Argentina. Also, no-one has spoken with me (about the Argentina job) so we are talking about a hypothetical situation. I would love to become the Argentina coach at some point, but I’m focused on Atletico.” center_img Press Associationlast_img read more

Tim Bresnan pens down a two-year deal with Warwickshire

first_imgLONDON: Warwickshire county cricket club has signed former England all-rounder Tim Bresnan on a two-year deal that covers up to the end of the 2022 season.Bresnan will join the Bears initially on a loan deal, subject to clearance from the England and Wales Cricket Board (ECB), which covers the remainder of the 2020 county season. “I’m thrilled to be joining Warwickshire. It’s a club that I’ve always admired, and I’ve always thoroughly enjoyed playing at Edgbaston with Yorkshire and England,” Bresnan was quoted as saying by the official club website. “I have still got a strong desire to continuing playing at the top level and to win, so hopefully I can pass on a bit of my experience to the young players who are coming through. “I know quite a few of the players well, so I can’t wait to move down and get cracking,” he added. The 35-year-old has enjoyed a 19-year career in the game to date and played a lead role in the Yorkshire side that won back-to-back County Championships in the 2014 and 2015 seasons. At international level, he was part of the England sides that won the T20 World Cup in the Caribbean in 2010 and that reached number one in the ICC Test world rankings in 2011. He also was part of England’s 2010/11 team that won the Ashes in Australia for the first time in 24 years and that retained the urn on home soil in 2013. IANS Also Watch: Get Set Global: Assamese in UK coping with the Pandemiclast_img read more

Swansea move out of drop zone

first_imgThere’s more Cup action tonight.Aston Villa could do with a morale-boosting win over Wycombe at Villa Park, while West Brom are the other Premier League club in action as they must travel to face Briston City.Mick McCarthy’s Ipswich side visit Portsmouth.Those matches are among the 7:45 starts tonight, while there’s also two 8 o’clock kick-offs as Bolton host Eastleigh and Huddersfield visit Reading. It’s after a 1-nil win at home to Watford – with their new head coach Francesco Guidolin watching on from the stands.Captain Ashley Williams got the only goal of the game.Also last night, 10-man Blackburn booked their place in the FA Cup fourth round after a 2-1 win over Newport County in their third round replay.last_img read more

Ademola Lookman: A New Star for Super  Eagles?

first_imgLookman came on in stoppage time of Everton’s 4-0 win over Manchester City on Sunday to score the fourth goal after capitalising on a mistake from John Stones despite being on the pitch for just for minutes.The £7.5m signing from Charlton was delighted with his performance and said afterward: “The gaffer just said ‘play behind Rom. I was lucky to anticipate the ball and put it in the back of the net. My first premier league goal, this is my chance to score it – and I took it well.”With his goal-scoring debut for Everton, 19-year-old Lookman is already dreaming beyond the Toffees. “One day I want to win trophies. Of course I want to play at the highest level – whether in England or Spain, I want to be at the top. You have teams like Barcelona and Real Madrid. As a kid, I dreamt of playing for one of those teams,” he said. When Everton poached Leicester’s head of recruitment Steve Walsh in the summer, it was easy to understand the logic. The 52-year-old’s reputation had hit new heights after he unearthed Jamie Vardy, Riyad Mahrez and N’Golo Kante to inspire Leicester’s title triumph, and Everton were eager to apply the same expertise at Goodison Park.Idrissa Gueye, Yannick Bolasie and Ashley Williams were the headline arrivals in Walsh’s first transfer window as Everton’s director of football. Penultimate week, they began their January spending with a less familiar addition, when Lookman arrived from Charlton as a little-known teenager with no Premier League experience. At £10m, he is the most expensive ever signing from League One.The fee reflects just how highly he is regarded by Everton. A rapid rise into Charlton’s first team convinced Walsh that the speedy, skillful little forward could be the next breakout star from the lower leagues, and Ronald Koeman has already described him as an important part of his long-term vision for the club.Like many of Walsh’s best signings, Lookman has had an unconventional route to the top. The jump from League One to Premier League has drawn parallels with Dele Alli’s move to Tottenham, but while Alli was on MK Dons’ books from the age of 11, Lookman did not set foot in a professional academy until he was 16. Charlton U21 coach and former Wimbledon striker, Jason Euell remembers how Lookman came to the club’s attention. “It was right at the end of the U-16 year in 2014,” he tells Sky Sports. “The majority of scholarship decisions had already been made, but every year our U-16s play a game against Inner London, an FA side for the best players in South London.”Charlton had received a tip-off about Lookman. The youngster was playing what Euell describes as “innocent Sunday football” for an amateur team called Waterloo FC in the London borough of Lambeth, but he produced a dazzling performance for the county side in front of Charlton’s watching coaching staff.“He had no academy background at all,” says Euell. “Sometimes it can happen that a player slips through the net, but we were lucky to already have a relationship with the county and with Waterloo FC. We signed him on a scholarship straight away.”Lookman was drafted into Charlton’s U18 side during his first season at the club, scoring 17 goals in 29 appearances as they clinched both regional and national titles. It wasn’t long before Premier League clubs started to take note, but Charlton are experts in youth coaching and understood the need to be cautious with his development.“We knew the talent he had but sometimes it’s about taking your time with someone like him,” says Euell. “He had been training once or twice a week but he had to get used to every day, professional football while doing his school work. He had growing to do and he had to start a full-time weight programme, so we had to be careful with how we used him.”Lookman was eventually promoted to Euell’s U21s, and in November 2015 he made his senior debut in a 1-0 defeat to MK Dons. Charlton’s season would end in relegation to League One, but a little over a year on from playing Sunday league football, Lookman took the step up in his stride, scoring five goals in 24 appearances and landing the 2015/16 Championship Apprentice of the Year award.Lookman’s breakthrough was recognised with his first England U19 call-up last May. His outstanding attributes are his pace, dribbling and powerful finishing ability with both feet, but without any professional coaching before he joined Charlton, there were areas of his game which required extra attention.“There were a lot of things he missed out on, and that was the learning and understanding of the game,” says Euell. “Young lads always say they can play football, but then comes the tactical side of it, the game understanding and the decision-making process.“We didn’t want to stop Ademola from doing what he does because that’s what makes him special, it was just about getting him to understand when and where to do certain things. At every level, every game is different. He had to learn what was needed from him in and out of possession.”Charlton rejected an offer from Crystal Palace in the summer, but Lookman never lost focus and added seven goals in 25 appearances for Charlton in the first-half of this season. Euell chuckles as he recalls having to drag him off the training pitch at Charlton’s Sparrow’s Lane headquarters. That determination to improve should serve him well at Everton.“He’s a great character and everyone else at the training ground would say exactly the same thing,” says Euell. “He is just a humble boy who loves his football. He hates being injured and he always wants to do extra work. He just wants the ball at his feet and wants to improve. He’s one of those guys who absolutely hate losing.”Charlton manager Karl Robinson only coached Lookman for a few weeks having taken over at The Valley in November, but he described the teenager as an “incredible talent” and a “joy to work with” when the deal was confirmed. Lookman has made a positive impression on just about everyone who has known him, and he heads to Everton hoping for more of the same.“He called me up to say goodbye,” says Euell. “I said: ‘Goodbye? It’s only a see you later; you’re only going up north!’ We had a nice chat. I gave him a bit of advice and wished him well.” Lookman is still learning, but he has the talent and he has the temperament too. In his new Merseyside surroundings, he might just become Walsh’s latest success story.Former Nigerian international, Paul Okoku, is of the opinion that it would be a right decision in the right direction if the NFF should make a move to convince Lookman to don the colours of the Super Eagles.In a telephone chat with Okoku from his base in the United States, the St. Finbarrs College of Lagos graduate, who claims he has been watching the progress of Lookman from his days at Charlton Athletic, said it would not be a bad idea if the NFF starts monitoring the progress of the 19-year old from now on and try to woo him to play for Nigeria.“I think he is the kind of player that will fit into the style of the Super Eagles. I’m not saying he should just be drafted into the Super Eagles just like that. Of course, he would have to earn the national team’s shirt to justify his inclusion when the time comes. However, the federation should first try to convince him on the need to play for his fatherland and not another country,” Okuku said.The 1988 Africa Cup of Nations silver medalist is of the opinion that with the performance of Nigeria in the World Cup qualifier, it won’t be too difficult to convince Lookman as the Super Eagles is in a good stead to hoist its flag at the 2018 Mundial in Russia.“Unpalatable experiences of some Nigerians that had tried to play for England in the past are enough for any Nigerian player to think twice in their choice of country to play for. Moreover, Eagles’ dominance of their group in the World Cup qualifying rounds is enough to lure any player of Nigeria extraction to play for the country. “Also, at this time, we need young players that would play for the country for 10 or more years and dominate the world stage like what we witnessed during Clemence Westerhof’s era. That is why players such as Lookman is important to the Super Eagles’ project,” the defunct Union Bank of Lagos player said.Born as Ademola Olajade Lookman October 20, 1997, in Wandsworth, London to Nigerian parents, he attended St. Thomas the Apostle College in Peckham where he achieved three As asteriks and five As at GCSE.Lookman signed for Everton on January 5, 2017 for a fee of £7.5m rising to £11m on a four-and-a-half year contract and made his debut for the club 10 days later. He scored on his debut.He received his first international call up on May 16, 2016 being named in the England U19 squad for a double header against Mexico. He was subsequently named in the England squad for the European U19 Championships the same summerShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram From Playing on the Streets to Everton WonderkidPep Guardiola is regarded as one of the best coaches in world football, especially with the successes he recorded with FC Barcelona and Bayern Munich not only in terms of trophies but the way he transformed the clubs. But last Sunday, against Everton, the Spaniard was handed his worst defeat in his coaching career. One of the players that orchestrated Everton’s victory was Nigerian-born England Under-21, Ademola Lookman. His performance has been enjoying media attention since then. Kunle Adewale, in this report, writes about Lookman’s spectacular performance and the lad’s possibility of earning a call to the Super Eagles squad or choose to play for the Three LionsWith the attention Ademola Lookman is enjoying, it may not be too long before the Nigeria Football Federation (NFF) starts making move for the England Under21 player to play for Nigeria as against the country of his birth, like the federation had done in the case of many English players with Nigerian descents. Victor Moses and recently, Alex Iwobi are good examples.last_img read more

SWAN Past Presidents Caution against Fifth Columnists

first_imgRising from a meeting, past presidents of Sports Writers Association of Nigeria have cautioned those fanning embers of discord in the sports body.This is just as they praised members of the association for resisting attempts by fifth columnists to cause disaffection.The communique signed by Steve Alabi, Olu Amadasun and Saidu Abubakar further commended the transparency of the processes leading to the election of a new National Executive led by Honour Sirawoo. According to them “we commend the commitment of the entire leadership of the Association across the 37 chapters in the country, to democratic principles in the emergence and renewal of leadership without compromise.“We commend the stout resolve of the entire membership of the Association to resist absurd overture from some quarters to subvert the 2019 National Triennial Delegates Conference which successfully held in Port Harcourt from Sunday, October 6, 2019 to Wednesday, October 9, 2019.While expressing satisfaction with the peaceful and orderly manner the Triennial Delegates Congress was held, they were appreciative of the support of Rivers State Governor, Nyesom Wike to the Association, commending his giant strides in sports and other areas of development.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Toronto Raptors end Clippers’ 8-game home win streak

first_img Newsroom GuidelinesNews TipsContact UsReport an Error They started to watch the shots fall. Their minds said close out on those shots, move and talk on defense, and their bodies wouldn’t let them.And then the Clippers, in general, didn’t want to use the old fatigue excuse. But it was clear on Saturday at Staples Center that the Toronto Raptors were ready for an entire game and the Clippers weren’t.With a barrage of 3-pointers in the second half, Toronto ran away and hid in a 110-98 victory that ended the Clippers’ eight-game home winning streak. Even if they were without key ingredients like DeMar DeRozan (groin) and Landry Fields (concussion), the Raptors dealt with their losses better than the Clippers did without key reserve Spencer Hawes (knee bruise).“We were a little tired in the beginning,” said Blake Griffin, who had 22 points. “Any time you’re playing against a team that’s coming off of four days’ rest, that second half is going to be the toughest challenge.“I don’t think we responded well.”The Raptors made 54.5 percent of their shots in the second half and the Clippers shot only 40 percent. Toronto hit nine of their 13 3-pointers in the final two periods.Greivis Vasquez (16 points) came off the bench to hit four 3-pointers, Lowry added three and Lou Williams and Patrick Patterson each connected on two.Toronto took a two-point lead into the final period, when Patterson hit a 3-pointer and Vasquez hit two more plus a jumper to extend the lead to 93-80.The Clippers pulled to within 11 points with 5:55 left, but Williams hit consecutive 3-pointers.Center Jonas Valanciunas worked the inside for 22 points and 11 rebounds for the Raptors.J.J. Redick went 5 for 9 from long distance and led the Clippers with 23 points. Jamal Crawford had 20 off the bench.“We made many mistakes defensively,” Clippers coach Doc Rivers said. “I thought that in the first half we were in trouble. I thought we were exhausted.“When one of the guys on their team got going offensively, they kept feeding him the ball.”center_img Now L.A. gets to rest. Until Monday, anyway, when the third game of a nine-game homestand arrives.“I felt like we ran out of gas before the game started,” said Clippers guard Chris Paul, who missed 9 of 12 shots and had only 10 points. “We tried to stay the course and hopefully find enough toward the end to pull out the game, but they went on a run.”That’s one way to put it. The game was tied at 78-78 late in the third quarter when the Raptors (23-7), the leaders of the Eastern Conference, went on a 15-2 run that effectively decided matters.Kyle Lowry scored 11 of his 25 points in the third quarter and Toronto went 9 for-17 from 3-point land in one stretch to build a 17-point lead that buried the Clippers (20-11).The Clippers were coming off a gritty win on Christmas Day and the Raptors had not played since Dec. 22.last_img read more

Lakers’ Kyle Kuzma named Western Conference Rookie of the Month

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with PackersHe also became the sixth non-lottery pick to win the award in the first month of the season.“It’s pretty cool for sure,” Kuzma said. “I wish I was Rookie of the Month and we had a winning record too. That would probably be even better. It’s definitely a great accomplishment, especially the first one of the season.”Through his first 20 games, Kuzma averaged 16.7 points and 6.1 rebounds while shooting 50 percent from the field. Ben Simmons, the first overall pick in the 2016 draft who missed all of last season with an injury, was the Eastern Conference honoree.Kuzma missed Wednesday’s loss to Golden State because of back spasms. He was expected to be limited in Friday’s practice but as the session wore on he felt good enough to keep going.“I kept saying I was fine, trying more things,” Kuzma said. “I really wanted to play.” After flying to Denver with the Lakers on Friday, Kuzma will be reassessed prior to Saturday’s game against the Nuggets. If his back stiffens, Walton said, the Lakers will rest him to prepare for Sunday’s home game against Houston.His official status for Saturday night is “questionable.”Kuzma has been a lightning bolt for the rebuilding Lakers, emerging as their most NBA-ready rookie while point guard Lonzo Ball, the No. 2 overall pick, has experienced more significant up and downs.Ball was among the players nominated for the November honor after averaging 9 points, 7 rebounds and 7.2 assists per game.While Kuzma, the 27th pick, said he did not plan on making too big of a deal about winning a league-wide award before Ball, his best friend on the team, he dropped in, “I probably will say it.” EL SEGUNDO — Kyle Kuzma found himself locked in a shooting competition on Friday with an unexpected challenger.Assistant coach Miles Simon, his usual counterpart in the regular competition alongside Lonzo Ball, was working on another basket with Kentavious Caldwell-Pope. So Luke Walton stepped in to team with assistant coach Brian Shaw for a game of “around the world.”“We won,” Walton said. “I don’t know if that’s good or bad.”If there was a day Kuzma could withstand some light teasing, it was Friday. Following practice, he was informed that he had been named the Western Conference Rookie of the Month for his performance throughout November, just the second Lakers rookie to win the award since its inception in 1981-82.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more