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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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Swan Hunter Adds Onshore and Offshore Carousel System

first_imgSwan Hunter together with its partner DOC, has taken delivery of a new 1000Te capacity modular onshore and offshore carousel system.The system offers clients a flexible product handling equipment solution within the onshore storage, offshore installation, and marine transportation markets, Swan Hunter said.The principle comprises three interchangeable components, specifically utilized dependant on the product loading location. Modular liftable storage baskets of varying capacities are coupled with either a hydraulically powered turntable or standard SPMTs to provide basket rotation and support.The hydraulic turntable has integrated hydraulic lift rollers, that allow it to be pulled away from beneath the basket when supported via crane or SPMTs. These inbuilt functions, allow for the loading of multiple baskets using a single turntable or SPMT spread.Upon completion of the onsite assembly DOC director, Dave Hangoor said: “We are very pleased to have another item of new build equipment constructed here at the DOC-Swan Hunter Cable Storage and Spooling Yard. This 1000Te system nicely compliments our smaller and larger carousels, further increasing our cable handling and storage capacity, and allowing us to offer various solutions to our client’s requirements”.The equipment is now due to undergo onsite commissioning works and will be operational on it’s first cable handling and storage project in early Q2 this year.last_img read more

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Kalou gives Chelsea victory in Lisbon

first_imgBenfica 0 Chelsea 1Salomon Kalou’s 76th-minute goal gave Chelsea a first-leg victory in Lisbon, putting them within sight of the Champions League semi-finals.Kalou slotted home after great work from Fernando Torres, who charged down the right and then crossed for the Ivorian to score from close range.AdChoices广告Torres set up Kalou’s goal.It atoned for a bad miss by Kalou earlier in the second half, when he headed over at the near post following another cross from the lively Torres.Chelsea had also gone close when Juan Mata pounced after a mistake by Brazilian defender Jardel and rounded keeper Artur only to see his shot from a tight angle come back off the post.Benfica looked dangerous at times – Oscar Cardozo fired wide in the first half and in the second was denied by David Luiz’s goal-line clearance.But Kalou’s goal knocked the stuffing out of the home side, and Mata had a chance to make it two but sent a late effort wastefully over.There was a scare right at the end though, when Ashley Cole almost scored an own goal.Follow West London Sport on TwitterFind us on Facebooklast_img read more

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English counties to play for Bob Willis Trophy

first_imgALL 18 first-class counties will compete in a shortened red-ball tournament named in honour of Bob Willis, the ECB has confirmed.A majority of counties voted to play both red-ball and white-ball cricket when the season resumes on August 1.Some had hoped to play white-ball cricket only, but the ECB says all counties will take part in both.The truncated T20 Blast will begin on August 27, although a full fixture schedule is yet to be announced.Neil Snowball, ECB’s managing director of county cricket, said: “The enforced break due to COVID-19 has provided a challenging period for the county game, during which time the 18 first-class counties have been united with a common goal to get back to our core function of playing cricket.“The commitment of the chairs and chief executives of the first-class counties to work together to achieve that ambition has been resolute, and we will remain in close discussion as we continue to assess risk factors that need to be mitigated in order to ensure the safety and welfare of their players, coaches and staff.“We are all delighted that agreement has been reached across the game and we are now in a position to look forward to and prepare for a new men’s domestic season starting on August 1.”Yorkshire chief executive Mark Arthur confirmed in an interview with BBC Test Match Special on Friday that the plan is for the red-ball tournament to start the shortened season.The leading two teams from a regionalised opening phase would then progress to a Lord’s final, which is likely to take place after a rescheduled T20 Blast Finals Day and go into the beginning of October.The latest previous finish for an English domestic season was September 29, in 2017.‘GREAT GESTURE’Before Friday’s announcement, Lancashire cricket director Paul Allott had said naming the red-ball competition after Willis, who died in December aged 70, would be a fitting tribute to the legendary England fast bowler and former captain.“What a great gesture it would be,” he said. “Bob was always championing a truncated county season with a final involved in it as well.“It might fit both poignantly and be in the right way he would have wanted.”Allott, who made his England Test debut alongside Botham and Willis at Old Trafford in the fifth Test of the famous 1981 Ashes series, then worked alongside the pair in his later career as a commentator.“He may have come across as a bit of a curmudgeon on the TV and he cultivated that persona quite beautifully, actually,” said Allott. “But there was nobody more delighted if England did well or if players performed well.“It would be great and wonderful recognition for Bob, who was a champion of the game in every aspect. He was an attempted reformer of the game.“He was part of the Cricket Reform Group in the early 2000s. I remember he and I sat on the boundary edge in India 40 years ago trying to devise a method and a structure for county cricket to make it more productive both for players and for England.“That would be streamlining the County Championship and getting one-day cricket in blocks so that you could concentrate on each format. It never quite came to fruition. But for Bob to have a tournament named after him would be very fitting.”Willis took 325 wickets in 90 Tests between 1971 and 1984.He made 170 first-class appearances in county cricket for Surrey (1969-1971) and Warwickshire (1972-1984) and took a total of 449 wickets, including 353 for the Bears, whom he captained for four years.LANCASHIRE HOPE TO PLAY AT LIVERPOOLAllott also revealed that, with Old Trafford in use as a bio-secure venue for England’s international matches until mid-September, Lancashire intend to play their red-ball games at Aigburth, Liverpool.“We are hopeful we can set Liverpool up to be our home venue,” said Allott.Liverpool was a successful home venue for three quarters of the 2011 season when, with Old Trafford under reconstruction, Lancashire won their first outright County Championship for 77 years. (BBC Sport)last_img read more

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“I do not manage C.K. Akonnor”- GFA boss Kurt Okraku

first_imgPresident of the Ghana Football Association, Kurt Okraku has refuted claims that he manages New Black Stars Head Coach, C.K Akonnor.The appointment of Akonnor has raised questions because of his past working relationship with the GFA president whose Dreams FC Akonnor managed from 2014 to 2016.Addressing journalists at the GFA’s first ever Meet the Press session in Accra on Monday, Okraku said he no longer owned a stake in his Sports marketing company, Proton Sports services, and had no management contract with Akonnor or any other coach in the country.“People are asking if I manage Charles Akonnor and the answer is no and I do not manage any coach or players in Ghana. I have had relationships with loads of people in the industry.I have known Akonnor for some time now because he worked at Dreams FC and he also worked with AshGold, Kotoko and Hearts of Oak.When I won the GFA elections, I announced that I would not be continuing with my work at Dreams FC and that alone was a big statement.It was meant to show that I wanted to give undiluted support to Ghana. I owned Proton Sports and I was a shareholder of that company.  As we speak now, I do not hold any shares in that company anymore. “The “Meet The Press” event was put together by the Ghana FA to brief the media on happenings in terms of the local game and provide answers and clarity to issues that may be on the minds of journalists and by extension, fans of Ghana football.last_img read more

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Texans now odds-on favorites to win the AFC South, clinch playoff spot over Titans

first_imgBaltimore is a double-digit favorite against Cleveland, and the Ravens would almost certainly sit all their stars in the season finale against Pittsburgh with home field advantage locked up. Robert Griffin III isn’t nearly the same talent as the heavy favorite to win the 2019 NFL MVP, Lamar Jackson, so Pittsburgh would have a golden opportunity to steal a victory provided Baltimore takes care of business this week.Meanwhile, Tennessee will likely be an underdog against New Orleans and could be an underdog to Houston. If the Texans lose to the Buccaneers, they will need to beat the Titans to win the division, and they will be favored in that game by three to four points assuming they are relatively healthy. A Houston win and a Tennessee loss next week would give the Texans the division though, making the Titans a road favorite over the Texans in Week 17 as A.J. McCarron would get the start over Deshaun Watson. The oddsmakers believe Tennessee will sneak into the playoffs over Pittsburgh, giving the Titans shorter AFC championship odds than the Steelers. Tennessee would most likely be the No. 6 seed and have to face Kansas City in the first round, and the Titans are likely to be a touchdown underdog in that game. Texans now -700 favorites to win the AFC SouthPrior to Sunday’s result, Houston was a slight favorite to win the division over Tennessee. The Texans and Titans were seen as relatively evenly matched sides by oddsmakers, and the two teams were set to meet twice in the last three weeks of the season. However, Houston has a much easier third game than Tennessee. While the Texans will travel to Tampa Bay to take on the Buccaneers this week, the Titans host the Saints. Houston is favored by two points over Tampa Bay on Saturday afternoon, and New Orleans opened as a 3-point favorite over Tennessee in Nashville on Sunday. Next week’s clash with Tampa Bay won’t be an easy one for Houston, though. The Buccaneers have won four straight games, and Jameis Winston is a human lottery ticket at this point. When Winston is on, he is one of the best quarterbacks in the league, able to make any throw look pedestrian. He leads the league in passing yards with 4,573 yards through the air this season, but he has thrown a league-high 24 interceptions as well. Winston has thrown six more picks than any other quarterback in the NFL, and he has thrown multiple interceptions in half his starts.Tennessee is an underdog against New Orleans, as the Saints are playing for home field advantage throughout the postseason. New Orleans is 11-3 coming into its game with Indianapolis, tied with Green Bay, Seattle and San Francisco.The Saints have the best chance of claiming the top spot in the conference, though, as their final two games are against Tennessee and Carolina. San Francisco and Seattle will meet in Week 17 with the winner likely winning the NFC West, while Green Bay must get past Minnesota this week. That means the Saints won’t be resting anyone against the Titans since the three 11-3 teams in the NFC play outdoors, and the Saints desperately want to play indoors during the postseason. MORE:  How Texans’ win over Titans impacts AFC South, wild-card racesTitans’ wild-card chances The Titans will have the tiebreaker edge over the Steelers provided these two teams finish with the same conference record. Currently, Pittsburgh is a half-game up on Tennessee in this regard, but that’s because the Titans have played one more divisional game. Pittsburgh will close its season out with two road games, boosting Tennessee’s hopes. However, the Steelers are expected to be favored to win both games. They are favored by a field goal over the Jets this week, and they will likely be favored on the road against Baltimore next week. As long as the Ravens go on the road and beat the Browns in Cleveland this week, they will have nothing to play for in Week 17. The Texans are on the precipice of winning their fourth AFC South title in five years after beating the Titans 24-21 in Tennessee on Sunday. That victory moved Houston to 9-5, giving the Texans a one-game lead over the Titans in the division race. Houston is now a sizable favorite to win the AFC South by the NFL futures odds following the win, and Tennessee’s best hope to make the playoffs is by edging out Pittsburgh for the final wild-card spot. MORE: Get the latest NFL odds & betting trends at Sports Insiderlast_img read more

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Dragon Boats Glide On Budd Inlet

first_imgBy Kathryn MillhornNot many sports require dotting I’s before you can begin.  Or ‘eyes’, in the case of Dragon Boat races.  Legend has it that a dragon was carved in ancient China which was so realistic the artist refused to dot its eyes, for fear it would fly away.  When he did, at the urging of the people, away it soared, as do the magically carved and painted boats in each race hosted at the annual Saint Martin’s University’s Dragon Boat Festival.This year’s festival, to be held at Port Plaza on Budd Inlet Saturday, April 27, will be no different.  32 teams will compete:  12 competitive, 8 intermediate, and 12 community teams (with little or no experience).  Each team contains up to 20 rowers, with a drummer and steerperson, using boats provided by the Washington Dragon Boat Association.  Teams come from Seattle and Portland, as well as around Puget Sound and Olympia, and are comprised of high school teams, cancer survivors, retirees, businesses, a school district, and Tumwater city employees.  No formal training is required but community teams are required to attend 1-2 practices sessions (1 ½ hour each) while intermediate and competitive teams practice independently.  Participants in this free festival receive t-shirts and medals as well as a day filled with spectators, booths, and community.Josephine Yung, Saint Martin’s Vice President of the Office of International Programs and Development, facilitated the first such festival in 2005.  She has become a fan of the sport, acknowledging that “The more I learned about dragon boat racing, the more fascinated I was of the sport that traces back to two thousand years ago in China.  The event promotes cultural diversity, team-spirit and community togetherness.  I felt offering a fun, free, family-oriented cultural festival was a good way for Saint Martin’s University to give back to the community – a community that we have been a part of since 1895.”Anyone interested in dragon boating can try out practices for free courtesy of the Washington Dragon Boat Association.  In Olympia, volunteers meet at the Swantown Marina (1102 Marine Drive NE, Dock A) on Wednesday evenings or Sunday afternoons.  Questions can be directed to Shiela Marsh at 253-302-0316.  Life jackets and paddles are provided, dress to get splashed and bring a love of the water!But beware, paddling in the great Northwest has its crazy moments.  According to one practice log for the Sea Otters Dragon Boat Team:  “great practice today…. sun, when we left the dock, wind when we were out in the open, drenching rain as we were coasting into the dock and piercing hail as we were tying up… all on a Sunday afternoon!!…but it feels so good to be on the water!”Photos courtesy of Steven Herppich Photography Facebook101Tweet0Pin7last_img read more

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