Category: gfniiuyr

Financial institutions are leaving the coal industry behind—Buckley

first_img FacebookTwitterLinkedInEmailPrint分享Power Technology:For more than two centuries coal has powered homes, businesses, and economies, providing the fuel of the industrial revolution and becoming an essential part of the world’s fuel mix. However, the days of thermal coal use could be numbered according to a recent Institute for Energy Economics and Financial Analysis (IEEFA) report.The report shows more than 100 leading global financial institutions had effectively pulled the plug on funding, imposing restrictions on investments into the sector and making the climate significantly more challenging. This “progressive strangulation” is resulting in “coal companies’ inability to access capital markets for expansions, mergers or acquisitions,” as well as cutting the avenues for insurance it said.The World Bank was the first to announce this type of policy back in 2013; the end of 2018 saw the 100th such announcement coming from European Bank of Reconstruction and Development. Since then five more – including Barclays Bank UK, Export Development Canada, Nedbank of South Africa, Varma of Finland, and Austria’s Vienna Insurance Group – have announced policy rethinks. From a slow beginning the pace of policy announcements has ramped up significantly, now coming as frequently as every other week.“You always have the leaders and the market generally ignores them, calling them idealistic or whatever,” says the report’s author and Director of Energy Finance Studies for Asia Pacific, Tim Buckley. “Once you start to get 108 or 109 globally significant financial institutions all exiting the door, and doing it faster than expected, everyone seems to evaluate and ask, ‘what are they seeing that we’re missing?’ That has happened in the last six months and that is globally significant.”Buckley says there are three trends, each building in momentum, all relating to the thermal coal market. The first is India and its growing hunger for renewable power, something he thinks is a considerable factor given the strong growth of the country’s population and economy today. “India is the third largest electricity market in the world and has absolutely embraced the huge energy security opportunities of renewables. They are now the low-cost source of supply…That is an absolutely critical fact.”The second significant factor is climate change, or more precisely, a changing climate for corporate and social responsibility. “Banks are not altruistic entities. They are very profit motivated, without a doubt,” Buckley says. However, they are being pushed, today with great vigour, by investors and regulators to wake up to their responsibility, he argues. Particularly given the majority of them signed up to acting by way of the Paris Agreement. Slowly, one by one, they’re realising that saying you’re committed to something actually brings about a fiduciary duty to have policies consistent with what you’ve said you’re going to do. Particularly around something as globally relevant as climate change.”The third significant factor, according to Buckley, is Japan. “Japan is going from a global laggard to a global leader. It’s a hypothesis of mine and I’m a bit of a lone voice on this, but I look at what countries and companies do, not what they say they’re going to do.”More: The big exit: why capital is deserting coal Financial institutions are leaving the coal industry behind—Buckleylast_img read more

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Hunt: Extended exam cycle should be ‘high priority’ at NCUA

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU’s Carrie Hunt yesterday welcomed the prospect of action soon at NCUA to eliminate the strict calendar-year exam cycle and reiterated the need to make an extended exam cycle a high priority.NCUA Board Chairman Rick Metsger, during an open board meeting discussion covering call report modernization and the exam cycle, said he hopes to see the calendar-year exam cycle addressed in a strategic plan update this summer. He said the board could vote by July 2 to eliminate strict calendar-year exams for all federal credit unions and for federally insured state-chartered credit unions with more than $250 million in assets.“I am hopeful to have the final strategic plan vote by July 2 to limit the calendar year requirement and put those building blocks in place so we can execute this the next exam cycle,” Metsger said after a discussion with NCUA Office of Examination and Insurance Director Larry Fazio and other staff. continue reading »last_img read more

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Saša Špiranec: Winemakers must be organized into four large associations: Slavonia, Dalmatia, Istria and Kvarner and Hilly Croatia

first_imgCroatia is so small, and yet so big and rich. We all know that, but unfortunately we do not respect ourselves enough or valorize all these potentials. Also, we have always been a wine region, and slowly from year to year we are discovered by others. Every year our wines receive various awards from around the world, which is just proof of quality and great potential, and despite the fact that the entire wine market is developing from year to year, we still have not managed to brand and position ourselves as a wine region with excellent and authentic wines.Especially when we talk about tourism because the very meaning of tourism is for people to get to know and experience a new culture and way of life, through culture, gastronomy, identity, history, and even through wines. Personally, I have a feeling that figuratively we sell French wines to the French, which is crazy, because guests want to try local and authentic wines, that’s why they travel, and we have something to be proud of and something to offer.In the global market, everyone is fighting for their place under the sun. The market is relentless, no one will help us, in fact, the competition is years ahead, but that does not mean that we have nothing to be proud of and nothing to offer. The richness of indigenous varieties and the great diversity of climatic conditions gives us an advantage over many, we have everything and it is up to us, whether we want strategic development or the status quo.I talked to the current situation in winemaking, the market, branding, challenges and potentials of wine in Croatia with Sašo Špiranec, a leading Croatian wine expert who is, in my opinion, one of the key ambassadors of the development of the wine scene in Croatia.Croatia is undoubtedly a wine region, but domestic consumption and consumption of wine is relatively weak, we lack the habit of drinking wine, especially when we talk about quality and premium wines, and the perception is that wine is expensive. How to increase domestic consumption of wine consumption?The truth is actually different. Consumption of wine in Croatia per capita is one of the world’s top. In the last few years, I have read several statistical surveys on the topic of global wine consumption and we are regularly in the top 15 countries in the world, and our highest ranking was 3rd place, behind the Vatican and Luxembourg. Consumption per capita is significantly raised by hobby production for own needs and probably makes a major difference compared to other countries. By the way, the total domestic consumption of wine has not been growing for a long time, but the ratio of table and quality wines is changing greatly in favor of quality ones. So, more and more people are spending more money on wine and drinking better quality wine than before. This tells us that our wine culture, and consequently food, is on the rise. I think we are on the right track, and we could speed it up primarily through education about the benefits of wine and the need for moderate consumption, because today wine consumption is increasingly becoming a lifestyle that involves moderation and reflection on what we take into the body. One of the solutions is certainly education, and you are doing this through various events such as the Wine City in Varaždin and Vinkovci and the Grand Tasting, which will be held for the third time. Wines are not black and white, and education is a long and difficult journey, but how do you see the changes in the past three years and today on the market? How is the market developing and what are the problems?I am witnessing a kind of boom in interest in wine. Fifteen years ago, we could not find a dozen people interested in a lecture on wines and wine workshops, which we organized then, and today it is completely different. In addition to our events, there are courses, schools and education, and the interest is not waning. The problems at this point are sweet in nature. Hyperproduction of wine fairs and festivals, wine schools and various other wine events has been created, but this market and the law of supply and demand should be resolved in a relatively short time. Some fairs have already failed, and in the case of courses and schools, a few good ones have stood out, so I think things are moving in the right direction.Wines are not expensive, at least that is the perception, but when we come to the restaurant the price of wine is much higher than expected, caterers have a large profit, even much higher than the producer, which again negatively reflects on the above problems. Why is this so, how do wine prices move in restaurants in other countries and how to solve this problem?This is a typical stereotype. By no means can we put all the caterers in the same basket. Catering margins vary dramatically from case to case, both here and around the world. In larger cities in the west you pay a glass of wine in a restaurant as much as in our country a whole bottle of wine in more modest restaurants. The restaurant business is one of the hardest ways to earn a crust of bread. It is extremely complex and full of different challenges, financial, organizational, qualitative and human. Winemakers should not look at their plate and estimate how much they are earning because it could resonate in the same way and vice versa. Winemakers ’margins also oscillate from 50% to hundreds of percent, as in caterers. Everyone is the master of their own destiny and is responsible for their own margin policy by risking bankruptcy. It is the market that makes the final judgment of the value of the restaurant offer or the value of the wine. If you have customers who are willing to pay for your service or your wine as much as you ask for, I don’t see a problem here. There are caterers who build their success on low margins and low investment and rental costs, as well as those others who open restaurants in expensive locations with sky-high rents and millions in equipment investments. Customers decide in which restaurant they will leave their money and which wine they will order. To promote and increase the consumption of wine sales, there is certainly tourism. But regardless of the growth, tourist consumption is still relatively low, and most importantly, all that earnings are not dispersed to the local economy, and thus not to the sale of domestic wines, not foreign ones. Somehow I get the impression that we are still figuratively selling French wine to the French, not our own. Why is this so and what is missing?Tourism is one of the strongest engines for selling domestic wines. Namely, Dalmatia and Istria sell a lot of wine at the doors of their wineries directly to tourists, and in restaurants the consumption of domestic and imported wines is 80/20 or 85/15 in favor of domestic wines. Not so much because of the awareness of the retailer or restaurateur about the need to offer their own, original product, but because of the expectations of tourists who want to taste local food and local wines in the host country, if any, so mostly looking for local. I recently spoke with the chief sommelier of a chain of exclusive hotels on the Adriatic known for its extremely large wine list who said that imported wines on the wine list sell poorly because foreigners want to try something new, local. The Vinistra Association, which brings together Istrian winemakers, has done a lot through the association of all winemakers, is this the right way through regional cooperatives, associations (name is not important) with the aim of raising quality, education, branding, promotion, etc. (Yes, that’s the only way. Organize local winemakers in 4 large associations, Slavonia, Dalmatia, Istria and Kvarner and Hilly Croatia. These four areas are very different from each other, and within each region the wines are very similar in style. In that way, communication with the rest of the world can be much simpler than when, as now, the subregion with foreigners with unspeakable names is as much as 12. This is more understandable, but more importantly, it is organizationally and logistically profitable. Countless small associations without a serious budget do not make sense, as no large one that can equally represent or promote the interests of all, because each of the 4 regions is at a different stage of development, and has a completely different assortment and style of wine.   We have quality, authenticity and diversity, which is certainly specific and unique, and all this has been confirmed through various years on the world stage with various awards and recognitions of our wines, but somehow the Croatian wine brand is still poorly presented and recognized on the world stage. How can we accelerate these processes, positioning and creating the image / brand of Croatia as a country of quality and top wines?The process of international affirmation of domestic wines is slow because there are about 40 to 50 winemakers seriously interested in exporting wine, with quantities, price and quality in total throughout the country, so they cannot organize themselves, but need state help. Australians or New Zealanders do not need government intervention, many of them have enough money themselves. If the state helps a lot, if not, I can do it myself. For exports, you need to have a strategy that attacks markets in a targeted and organized way as a wine region, focused, with marketing activities throughout the year. It can be only two to three markets in the first wave, in five to six years you can attack two to three more, but again organized as a group. For that, you need professionals who will lead the process and who should be paid solidly, and at the same time you should not burden them with petty political or interest games, because they will not want to do the job for you. More developed foreign wine regions have several hundred wineries with export potential, so their budgets for promotion are much higher, and political pressures for the particular interest of one or a group of winemakers are much lower. The biggest brakeman is the so-called wine profession, which has found its way into institutes and committees, whose salaries are covered by winemakers through the payment of stamps and marketing fees, and who on the other hand write wine laws in a way to justify the purpose of their existence. They hamper every entrepreneurial project of a serious organization of wine associations, then the promotion, education and marketing of wine in the organization of which they are not involved. It is logical that every minister, because he is their employer, seeks their opinion when drafting a new law on wine, but the opinion and proposals they give are not in favor of the economy and producers, in favor of promoting the country and affirming wine regions, care how to introduce as much regulation which of course they will implement. The more wine controls and mandatory levies are introduced, the better for them. Wine quality control should be fully liberalized and market competition possible, as this will reduce costs for winemakers, so they can redirect these funds to promotion, and this promotion and export organization should be handed over directly to winemakers organized in four major wine regions, without state interference. . That’s the way.  THIRD VINART GRAND TASTING on Friday and Saturday in Zagreb For the third year in a row, the inviting Vinart Grand Tasting festival will host 120 selected winemakers from Croatia, the region and the world. Completely dedicated to quality, Vinart Grand Tasting is a festival where winemakers exhibit exclusively by invitation of the organizers.Selected winemakers will present themselves on Friday 2 and Saturday 3 March in Lauba, Prilaz baruna Filipovića 23, and visitors will have the opportunity to taste wines that are leaders in their quality in their price range on the Croatian market.Vinart Grand Tasting is a unique event, based on quality, with multiple goals of promoting winemakers and the world of wine, but also encouraging the development of wine culture in Croatia. It is intended primarily for professionals, caterers and sommelier, but all other visitors, enthusiasts and wine lovers are also welcome. In recent years, the festival has confirmed its place and profiled itself with the professional public.See more about Vinart Grand Tasting HERElast_img read more

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Kingston talks shop

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Ronaldo ‘wants to conquer the world’

first_imgJuventus star Cristiano Ronaldo said Thursday that his “spirit and ambition were as high as ever” as he strives to “break records and conquer the world” next season.The Portuguese forward won his second ‘Scudetto’ with Juventus, but despite his double against Lyon the Italian giants exited the Champions League to the French club in the last 16.”As I’m getting ready for my third season as a ‘Bianconero’, my spirit and ambition are as high as ever,” the 35-year-old wrote on Instagram.  “Goals. Victories. Commitment. Dedication. Professionalism.”With all my strength and with the precious help from my teammates and all of the Juventus staff, we work once again to conquer Italy, Europe and the World! Breaking records.”Former Italy and Juventus star Andrea Pirlo replaced Maurizio Sarri as coach with the team targeting a tenth consecutive league title in 2021.But the team’s failure in the Champions League, which they last lifted in 1996, was a low point for five-time winner Ronaldo, who signed from Real Madrid for 100 million euros in 2018 to help win the trophy.  Topics :center_img “Overcoming obstacles,” continued Ronaldo of his ambitions for next season which starts on September 19. “Winning titles and achieving personal goals. To do more and better once and again.”To reach higher and to succeed in all challenges that may come our way.””We are Juventus! We are the Champions! We are back and stronger than ever! We are counting on you! All together! Fino Alla Fine!”Ronaldo achieved some landmarks last term becoming the first player to score 10 or more Champions League goals for three different clubs. He was also the first player to score 50 or more goals in the Premier League, La Liga and Serie A, and the first to score 30 or more in a single season in three of Europe’s top five leagues.Ronaldo matched another Serie A mark when he scored in 11 consecutive Serie A games, equalling the record of Gabriel Batistuta and Fabio Quagliarella. In total he scored 37 goals in all competitions, a record for a Juventus player in a single campaign.But he fell short in the Serie A scorers’ chart with his 31 goals trailing Lazio’s Ciro Immobile’s 36.last_img read more

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PRO-6 recruiting 100 more new cops

first_imgThis 100 is an attrition quota –recruitment to fill in vacancies due to death, retirement or dismissal fromservice of policemen. After these patrolmen complete theirPublic Safety Basic Recruit Course for six months at the Regional TrainingSchool 6 in Bacolod City, they will have six months of field training./PN According to PRO-6 spokesperson PoliceLieutenant Colonel Joem Malong, “This is the last recruitment for this year.” Just this August, the PRO-6 recruited400 new policemen. They are now undergoing training for six months. “Maybe next year the number of ourquota will increase,” she added. ILOILO City – The Police Regional Office6 (PRO-6) will be hiring 100 new police officers this last quarter of the year. Police Brigadier General RenePamuspusan, regional police director, reminded them to, among others, followthe rules and regulations of the Philippine National Police or the organizationwould dismiss them from the service or slap them with corresponding penalties. “We will give you the strictesttraining,” Pamuspusan told the recruits, “paramaunawaan talaga ang role ng isangpulis.” As of Oct. 25, the PRO-6 had received1,026 applications from across the region, said Police Colonel Lupe Manlapas ofthe Regional Personnel and Records Management Division.last_img read more

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84 Negrenses from Luzon to undergo quarantine

first_imgThese passengers are considered asPUMs as stated in Executive Order No. 20-13 issued by Governor Eugenio JoseLacson, adopting unified protocols on the border and intra-province control forCovid-19. Starting March 14, the provincialgovernment required all travelers arriving from Metro Manila to undergo a14-day home quarantine upon their arrival in the province. BACOLOD City – A total of 84 Negrenseswho were stranded in Luzon following the imposition of enhanced communityquarantine in the region have been flown back home yesterday.The passengers departed Clark International Airport via Cebu Pacific flight5J153 around 10 a.m. and arrived at Bacolod-Silay Airport in Silay City beforenoon. They are now considered persons undermonitoring (PUMs) and will undergo a mandatory 14-day quarantine at MambukalResort in Murcia town. The mandatory quarantine will besupervised by the Provincial Health Office. (With PNA/PN)center_img The PUMs will not be allowed to leavethe quarantine area or accept visitors, and will be strictly monitored,the Capitol said. The Capitol-owned resort suspended itsoperations effective Thursday to accommodate the Negrense PUMs, who will beprovided food and lodging by the provincial government, the statement added. Provincial Board Member Ryan Gamboaand Provincial Administrator Rayfrando Diaz welcomed the group. last_img read more

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Lady Trojans Battle Lady Tigers On The Court

first_imgEC won in 4.‘It was a great match by both teams. We had our ups and downs. It was probably the most roller coaster of a game we’ve had this year. We did a lot right, but for some reason, could never find the intensity we needed to get the job done in the way we know how. All in all, the girls never quit and as a coach, you can’t really ask for much more. They defended our home court and undefeated conference record with every ounce of determination they had.’ Trojans Coach Cassie Laker.EC is now 19-3 on the season and 10-0 in the EIAC.Next up: at Connersville on Thursday.EC hosted Lawrenceburg for our Pass the Hope match on Monday.‘We had a great turnout and a lot of generous people there to help us raise money for someone battling cancer in our community.’Courtesy of Trojans Coach Cassie Laker.East Central JV defeated Lawrenceburg on Monday evening at EC in 3 sets with scores of 19-25, 25-13, and 15-10. East Central improves their record to 12-2.Ace serves: Ella Fledderman 3 (7/8), Anna Andres 1 (13/14), Alex Disbro 1 (11/12)serve receive: Alex Disbro 15/18, Lauren Foster 7/7, Grace Egbers 6/6Kills: Dani Hall 4 (8/8), Alicia Rosemeyer 4 (11/13), Faith Fox 3 (14/18)Assists: Ella Fledderman 9 (42/42) and Allison Huismann 6 (36/36)Blocks: Alicia Rosemeyer 3 soloDigs: Alex Disbro 15/15, Grace Egbers 8/9, Lauren Foster 7/7Courtesy of Trojans Coach Debbie Gregg.last_img read more

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Ramsey puts loss in perspective

first_img “We hope we can muster up three more fantastic performances to get those nine points and make the last few weeks interesting.” QPR’s disappointment was made greater because they had dragged themselves back into the game through Leroy Fer’s volley after Philippe Coutinho had put the hosts ahead in the first half. However, after Steven Gerrard missed a penalty, defender Nedum Onuoha was sent off for a second bookable offence and the visitors could not hold on as Gerrard headed home the winner two minutes from time. The former England captain has just three games remaining of his Liverpool career before he leaves for the Los Angeles Galaxy and manager Brendan Rodgers paid tribute to the midfielder’s determination. “A lot of players, when they miss a big penalty their game goes and their confidence goes. He is the total opposite,” he said. “He is one of a unique group of players that when they need to respond, they do. An outstanding header gets us the win. “It is a world-class talent. There is a very small group of players in that bracket when, in the big games, they score the big goals and make the big contributions and he has done that throughout his career. “He missed a penalty and you think it may go against us but there was no-one more determined to make up for it. “It will probably only be when he is gone that people will recognise what a sheer talent he is.” The win ended a miserable fortnight for Liverpool after they lost an FA Cup semi-final and saw their slim hopes of a top-four finish virtually extinguished. Minutes before kick-off a plane flew overhead trailing the banner ‘Rodgers Out, Rafa In’ in reference to former Liverpool boss Rafael Benitez. “I thought it was Rafa’s agent,” added Rodgers, who went on to defend his position. “Football has short memories. We sat here last year and nearly won the league.” Press Association QPR manager Chris Ramsey insists his side will cling to the very last semblance of hope in their fight to stay in the Premier League but admits events over the weekend have put things in perspective for everyone. “The players have run their socks off and come away with nothing again but the events of earlier have put things in the right context. “The players used it as a strength. Rio would have wanted that and requested that but I wouldn’t say it had a bearing on why we didn’t come away with a point. “Everyone will tell you, as a man, he has been absolutely fantastic. He has come in and trained, kept it to himself, not been moping or had the world on his shoulders, he’s talked to the young players, he has been a man-mountain. “We only have good things to say about him and the way he has conducted himself. “Our thoughts are with him and his family and we hope they can pull together and find strength at this tragic moment.” Defeat left Rangers seven points from safety with just nine to play for and they head to Manchester City next weekend. Asked whether it was almost impossible to avoid the drop Ramsey added: “Yeah, but the word ‘almost’ is what you need to cling on to. “The fans can see what the players are trying to do. We are not going out with a whimper. Just hours before the 2-1 defeat at Liverpool, which dramatically reduced their chances of avoiding the drop, it was announced QPR defender Rio Ferdinand’s wife Rebecca had died from cancer at the age of 34. “It does put things into perspective. There is a very solemn atmosphere in the changing room for both reasons,” said the QPR manager. last_img read more

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White House Coronavirus Task Force Members testify before Senate

first_imgThe White House Coronavirus task force is testifying live before congress Tuesday. The nation’s top infectious disease specialist, Dr. Anthony Fauci, plans to warn Congress about the consequences of reopening too quickly from coronavirus lockdowns. Dr. Fauci is testifying before a Senate committee Tuesday remotely and is expected to warn that if the country is too quick to reopen, there will be “needless suffering and death.” Fauci will explain that if guidelines aren’t followed, there could be multiple new outbreaks of the respiratory illness. The White House has released a phased plan for states to follow, but many states are moving on with their own reopening plans.last_img read more

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