Norwegian oil fund writes to companies over low-carbon transition

first_imgIt added that, despite the decision not to divest fossil fuels, NBIM had long sought to address matters of climate change, and had been assisting CDP in drawing up metrics for carbon disclosure.However, it noted that measuring a company’s greenhouse gas emissions was not enough to assess the risk of climate change properly, and that a company’s business plan and operation should therefore be examined as well.As part of the initiative, NBIM said it had in 2015 written to a number of undisclosed energy firms asking them to outline their plans for dealing with a future low-carbon economy.The disclosure of the letters comes shortly after both Shell and BP endorsed a shareholder resolution backed by 50 institutions worth more than £160bn (€214bn) to report on the resilience of its business in a future low-carbon economy.The resolution asked them to disclose their low-carbon research and development plans, with Shell noting its work in the area of biofuels and carbon capture.Throughout the letter, NBIM emphasised the importance of an evidence-led approach to RI, in line with the view of chief executive Yngve Slyngstad, who last year called for more rationality in the sustainable investment debate.Read more about carbon risk in IPE’s recent in-depth report on the topic,WebsitesWe are not responsible for the content of external sitesNBIM Responsible Investment report (Norwegian only) Norway’s sovereign wealth fund has written to energy companies, asking them to outline their plans to deal with the transition to a low-carbon economy.In a letter to the Ministry of Finance accompanying its inaugural responsible investment (RI) report, Norges Bank Investment Management (NBIM) noted a recent decision not to use the Government Pension Fund Global as a tool for enacting climate policy by mandating a blanket divestment of fossil fuel holdings.NBIM contrasted the blanket exclusion of one or more sectors with its ability to monitor companies actively and potentially not invest in them, noting that sector-wide bans would directly conflict with the “basic premise” of its approach to management.“Use of the fund as a climate policy tool beyond what is consistent with the fund’s role as a financial investor would be very unfortunate for the management of the fund,” it said. last_img read more

Big Ten coach rankings for 2020: Ryan Day is No. 1 until proven otherwise

first_imgMORE 2020 COACH RANKINGSACC | Pac 12 | Big 12Penn State’s James Franklin, Michigan’s Jim Harbaugh and Wisconsin’s Paul Chryst are the next three coaches on the list — and their order depends on the year. Ohio State won four games against those teams by an average of 21 points last season.  If you want to be the top coach, then you have to take out the Buckeyes. That’s why Day sits on top heading into the 2020 season.  Here’s a deeper look at our Big Ten coach rankings for 2020 (record at current school):  2020 Big Ten Coach Rankings   RANKCOACHSCHOOLWLPCTOVR1Ryan DayOhio State161.94172James FranklinPenn State5623.70993Jim HarbaughMichigan4718.723114Paul ChrystWisconsin5216.765125Kirk FerentzIowa162104.609226P.J. FleckMinnesota2315.605237Pat FitzgeraldNorthwestern9979.556298Scott FrostNebraska915.375359Tom AllenIndiana1820.4744110Jeff BrohmPurdue1721.4474911Mel TuckerMichigan State00.0005412Lovie SmithIllinois1534.3067313Mike LocksleyMaryland39.2507914Greg SchianoRutgers6867.50380Quick reads  —You can make a case for putting Harbaugh over Franklin knowing that he has a 3-2 advantage head to head and the teams have essentially traded home victories the past four seasons. Penn State is 31-8 the past three seasons. Michigan is 27-12. We’ll give the edge to Franklin as a result.   Yes, Ohio State’s Ryan Day is the top-ranked coach in the Big Ten. This isn’t a debate until somebody dethrones the three-time defending Big Ten champions.Sure, Day has only one full season as a head coach under his belt. He’s also 16-1 with a College Football Playoff appearance, and the recruiting machine Urban Meyer built has not slowed down. Day was ranked No. 7 in our 1-130 overall rankings, and we’re good with that, too.   — Iowa’s Kirk Ferentz has been embroiled in a controversy in the aftermath of the suspension of strength and conditioning coach Chris Doyle. That signals the need for a cultural shift within the program despite winning 10 games last season. Would you take Ferentz or Minnesota’s P.J. Fleck for the next three years?  — Nebraska’s Scott Frost is slipping down the pecking order a bit after two seasons. He has 15 losses in two seasons. To put that in perspective, Fleck — who jumped into the top 25 of our overall rankings — has 15 losses in three seasons. Frost was not lying about the brick-by-brick rebuild required in Lincoln.  — The Big Ten had 10 coaches ranked in our top 50 in the overall rankings. That’s an indicator of conference strength. Indiana’s Tom Allen jumped 26 spots to No. 41, and Purdue’s Jeff Brohm fell 17 spots to No. 49. When the Indiana schools have coaches in the top 50, that says something.last_img read more