​Danish pension funds improve in latest WWF climate ranking

first_imgAll of the pension funds covered by the 2018 analysis scored higher this year. Velliv — the former Nordea Liv & Pension Danmark, was not scored in 2018 as it was considered a new pension fund.“Danish pension funds have heard the planet’s distress call”Bo Øksnebjerg, chief executive of WWF DenmarkBo Øksnebjerg, chief executive of WWF Denmark, said: “Fortunately, Danish pension funds have heard the planet’s distress call.”He said it was very positive that the pensions sector supported the Danish government’s climate ambitions and had committed to invest an additional DKK350bn (€47bn) in the green transition by 2030.Room for improvementAccording to Øksnebjerg, for the first time a majority of the pension funds surveyed had included the Paris Agreement in their investment policies, excluded selected companies on the basis of climate considerations, and formulated objectives to increase investment in green energy technology.“But even more must happen if we are to reach the Paris Agreement’s goal of keeping the global temperature rise below 1.5 degrees,” he said.Outlining further steps that need to be taken by the pension fund sector, the WWF said that although almost half of the pension funds had systematically integrated the Paris Agreement into their investment, they all needed to come on board and increase the level of ambition to the 1.5-degree target.More than half of the pension funds had formulated goals to increase investment in green energy, but several still had to express a specific time horizon, amount and scope, it said.Regarding green investments, the charity said that in general there had been an increase in the amount and proportion of green energy investments, but the latter was still small. It reported an emerging trend for pension funds to divest fossil fuel holdings, with Lærernes Pension, PKA and MP Pension leading the way with divestment strategies, but said these could be boosted further to include all fossil energy types.Pension funds welcome competition, scrutinyMany of the pension funds shared their thoughts on the WWF’s report when contacted by IPE. PKAPKA hailed its success in the 2019 report, in being the highest scoring pension fund for the fifth year in a row. Danish pension funds surveyed by conservation organisation WWF for its latest annual climate report all got higher scores than last year, but the charity’s chief executive said more remains to be done.In comments to IPE, the pension funds shared a roughly similar perspective.The 2019 study examined the 16 biggest Danish pension funds’ systematic integration of climate considerations, investment policies, climate targets and transparency.PKA and MP Pension were ranked the highest, each scoring 11 points out of 12 possible. While PKA has maintained its position as (joint) leader and increased its score by two points from the 2018 ranking, MP Pension’s score almost doubled from six points last year. “We are just as pleased that we have had so much competition this year”Peter Damgaard Jensen, PKA chief executivePeter Damgaard Jensen, PKA’s chief executive, said: “We are really happy with our first place position, but we are just as pleased that we have had so much competition this year.”This also meant PKA would have to make even more effort to stay on top, he said, adding that this was a challenge the firm was happy to take on.MP PensionMP Pension CIO Anders Schelde told IPE that first and foremost, he was pleased that pension funds in Denmark were succeeding to various degrees in taking the climate challenge seriously, with all funds moving in the right direction.“It seems very positive — and for MP Pension too, this is something that is very high on our agenda and that of our members, so it is nice to have this recognition,” he said.Schelde agreed with the WWF’s commentary that more still had to be done by the pension fund sector in terms of climate.“But I don’t think it’s a big problem — it’s a transition that is going to happen over several decades, provided we keep up the momentum,” he said.Doing the paperwork and getting climate policies in place was the easy part, he said, adding that what needed to be done now by the pensions sector was to allocate more capital to the green transition.PenSam Torsten Fels, PenSam CEOPenSam scored 10 points in the survey, up from the six points it gained in 2018. The pension fund’s chief executive Torsten Fels said his pension fund was pleased to get this recognition, having worked systematically over the last year to incorporate climate change and climate risk into its investments.“This applies in relation to more green investments, measuring the carbon footprint of our investments, influencing companies to go in a more climate-friendly direction and divesting companies in the areas of oil, coal and tar sands,” Fels said.PFAPFA, the largest of Denmark’s commercial pension funds, saw its score rise to nine this year from seven, and Andreas Stang, head of ESG at PFA, also said he found it positive to see the cross-sector development.“At PFA for the past year we have focused on our systematic approach of integrating the Paris Agreement into our investment process and have conducted screenings to ensure alignment with the accord,” he said.As part of industry association Insurance and Pension Denmark, Stang said the pension fund had attended UN climate week and been part of the industry commitment to invest in a green transition between now and 2030.PensionDanmark Torben Möger Pedersen, PensionDanmark CEOMeanwhile, Torben Möger Pedersen, chief executive of PensionDanmark, whose WWF climate score rose to nine this year from five in 2018, told IPE his pension fund was “very pleased with the recognition by WWF, which reflects the fact that we have worked intensively on developing our portfolio for many years so that it supports the climate agenda.”PensionDanmark is one of the founding members of an alliance of asset owners that recently announced a commitment to making their portfolios carbon neutral by 2050. Industriens PensionAt Industriens Pension, whose score similarly climbed to nine from five, ESG manager Christina Gordon Christiansen said the climate issue had also gradually moved higher up the pension fund’s agenda, and it was pleased that the report recognised its work in this area.“At the same time, we expect that climate and environmental considerations will play an even more significant role in investments in the coming years,” she said.ATPDenmark’s biggest pension fund, the labour-market supplementary fund ATP, saw its score increase to seven from six.Ole Buhl, head of ESG at ATP, said the fund appreciated the efforts of WWF and other NGOs in pushing the green agenda as well as challenging Danish pensions funds.“It is not only that ATP can have an impact on climate change through our investments, but also that climate change can impact ATP’s long-term returns,” he said.For this reason, the pension fund was working seriously on integrating climate change into its investment processes and continuously improving its understanding of how climate change affected its investments, said Buhl.SampensionSeparately, a spokesman for Sampension, whose score rose to six from five, told IPE the pension fund shared the belief that more needed to be done to prevent negative effects due to climate change. “The purpose is both mitigating risks and protecting the assets of our pension savers as well as contributing to turn the tide of climate change,” he said.“We already have further initiatives underway and expect to change responsible investment policies later this year which will lead to further engagements, exclusions and possible divestments,” he said, adding that this should also have an significant impact on the pension fund’s score in next year’s analysis by the WWF.last_img read more

Tennis News Kyrgios disqualified as Federer, Nadal and Djokovic advance in Italian Open

first_img For all the Latest Sports News News, Tennis News News, Download News Nation Android and iOS Mobile Apps. Rome: Australian firebrand Nick Kyrgios was disqualified from the Italian Open after an expletive-laden rant on Thursday as defending champion Rafael Nadal swept into the third round along with top seed Novak Djokovic and Roger Federer. Kyrgios grabbed the headlines when he suffered a spectacular meltdown on Court Three against Norwegian qualifier Casper Ruud.The controversial 24-year-old, who had marked his presence in Rome by criticising Djokovic and Nadal in an interview on Wednesday, starting arguing with the umpire in the third set.World number 36 Kyrgios had levelled the match at one set all but was given a game penalty early on in the third set for swearing.His response was to kick out at a water bottle before throwing a chair onto the court, packing his bag and then storming off court, shouting I am fuc**** done”Kyrgios was automatically disqualified with Ruud winning 6-3, 6-7 (5/7), 2-1 to advance to the third round against former US Open champion Juan Martin del Potro.Kyrgios had already been at the centre of controversy during Wednesday’s washout when he told the NCR Tennis Podcast that Djokovic had “a sick obsession with wanting to be liked” and that the Serb’s post-match celebration was “cringeworthy”. Nadal was described by the Australian as “super-salty”.Meanwhile, Nadal crushed France’s Jeremy Chardy 6-0, 6-1, with Federer, a four-time runner-up, easing past Portugal’s Joao Sousa 6-4, 6-3, and Djokovic beating Canadian Denis Shapovalov 6-1, 6-3.All three are in action again later in the day to make up time after play was washed out on Wednesday.Nadal meets Georgian Nikoloz Basilashvili, with Federer up against Croatian Borna Coric, and Djokovic facing Germany’s Philipp Kohlschreiber.For 37-year-old Federer, returning to Italy for the first time since 2016, it was like a practice session. “Like any other practice day when you play twice a day, you finish the first session, take a shower, eat something, relax, get ready for the next one,” said the 20-time Grand Slam winner.”I think it gives me some good information. I believe it’s going to be similar conditions in the match this afternoon,” he added.Nadal said it was a “good start” as he targets a first title on clay this season before he starts the defence of his French Open crown from May 26.”That’s important for what’s coming up,” said the eight-time Rome winner.World number four Dominic Thiem slammed tournament organisers after he was dumped out 4-6, 6-4, 7-5 by Spain’s Fernando Verdasco.Austrian Thiem complained competitors were left hanging around during the rain-impacted day 24 hours earlier.”I really dislike how we players get treated at this tournament because yesterday was, in my opinion, not acceptable,” said last year’s French Open runner-up.”I’m quite pissed about it. I was tired, exhausted, today because of all these shitty things,” he added.Japan’s Kei Nishikori, the sixth seed, got past American Taylor Fritz 6-2, 6-4 and next meets Jan-Lennard Struff.In the women’s competition, world number one Naomi Osaka fought back after losing her serve early to ease past Dominika Cibulkova 6-3, 6-3 against the 33rd-ranked Slovak who she also beat last week in Madrid.The Japanese star hit 44 winners and 12 aces, despite 25 unforced errors.Osaka, the US Open and Australian Open champion, reached the third round in Rome for the first time in three appearances.She was at risk of losing her world number one ranking to Simona Halep but the Romanian was knocked out by Czech teenager Marketa Vondrousova losing 2-6, 7-5, 6-3 having needed to win the tournament to regain top spot she last held in mid-January.Halep’s defeat also guarantees Osaka’s top seed at the French Open.Next up for the Japanese player on the clay of the Foro Italico is Romania’s Mihaela Buzarnescu.Czech second seed Petra Kvitova eased past Yulia Putintseva of Kazakhstan 6-0, 6-1. last_img read more

Better Collective moves into affiliate M&A space acquiring SportFreunde portfolio

first_img StumbleUpon Share Submit Better Collective cautious on quick recovery as COVID drags growth momentum August 25, 2020 Related Articles MoneyMatrix boosts wire transfer options by integrating Klarna’s Sofort August 24, 2020 Share Mateusz Juroszek – Non-stop STS will expand amid industry disruptions August 12, 2020 Jesper SogaardBetter Collective, the operating company of leading European sports betting portal bettingexpert.com, has moved into the M&A space acquiring Austrian competitor Hebiva Beteiligungen GmbH, the owner of affiliate SportFreunde Informationsdienste GmbH (“SportFreunde”).The deal sees Better Collective acquire all SportFreunde’s existing affiliate portfolio, which includes popular German language websites  wettfreunde.net, sportwettentest.net, and fussballportal.de.Completing the deal, Better Collective management detailed that SportFreunde assets would significantly strengthen the firm’s industry inventory, as it sets itself the ambitious target of growing 50% year-on-year.A pleased Jesper Søgaard, Founder and CEO of Better Collective commented on the acquisition: “We are moving full steam ahead with our M&A strategy, and we are proud to announce that SportFreunde is joining us. This step reinforces our position as a leading affiliate in the industry.“What the team at SportFreunde has achieved with their approach to creating in-depth content is greatly appreciated by the German-speaking community, and we are looking forward to extending this approach to our other platforms to appeal to even more users.”Detailing further insights, Better Collective management stated that SportFreunde’s high quality content combined with daily in-depth journalism aligned with the core values that have made bettingexpert a leading industry portal.Heinz Patzelt, Managing Director of SportFreunde backed Better Collective as new owners: “We are incredibly proud of what we have achieved at SportFreunde, and are very pleased that Better Collective recognises the quality of our work.“We are excited to be joining the Better Collective family, and look forward to expanding SportFreunde and Better Collective’s reach by integrating our content to Better Collective’s well established global platform.”last_img read more

NPP MP eyes Kotoko top job

first_imgMember of Parliament for Asante Akyem North Constituency of the Ashanti Region, Kwadwo Baah Agyemang has expressed interest in Kumasi Asante Kotoko’s top job.This follows the resignation of former Tema Oil Refinery boss, Dr. Kofi Kodua Sarpong who until a week ago, occupied the top post of Kotoko for the past three seasons.Dr. K.K Sarpong resigned after coming under a barrage of criticisms from teeming fans for the clubs who accused him of failing to hold on to the Club’s most prized assets. He is also blamed for the Club’s poor showing in the continental club competition – CAF Champions League.The Club’s Board of Directors on Monday announced the appointment of Paul Adu-Gyamfi, a legal practitioner as Acting Chairman.But the MP for Asante Akyem disclosed on Agokansie, the sports segment on the Badwam programme Tuesday, his desire to lead Kotoko and move it to the next level.According to him, Kumasi Asante Kotoko is a pride of the Asante Kingdom and as somebody who believes in promoting and espousing the invaluable things of the region, serving the club will be a step in the right direction. The Media Consultant and Member of the Parliamentary Select Committee on Sports, also played down the difficulty in combining his parliamentary duties and the demanding responsibilities of Kotoko Chairman.He explained that the hallmark of a good manager is to communicate clearly his vision and rally the people he is working with around, to achieve the set goals.Having been vetted and certified by the Members’ Holding Office of Profit Committee of Parliament, Mr. Kwadwo Baah Agyemang said he is ever ready to fill the huge shoes left by Dr. K.K Sarpong.“I will gladly serve Kotoko if the Life Patron, Otumfuo Osei-Tutu II gives me the opportunity to do that and if interested persons are also asked to apply, I will gladly send my application,” he announced.Meanwhile, the Asantehene, Otumfuo Osei Tutu II has dissolved the entire management and board members of Kotoko with immediate effect. These members are former captain of the club Opoku Nti, Coach Didi Dramani and CK Poku. The Asantehene, who is life patron of the club, has also cancelled the appointment of Mr. Adu Gyamfi as Acting Chairman.last_img read more