Norway’s oil fund backs BP, Shell shareholder resolutions on climate change

By on September 29, 2020

first_imgThe resolutions ask for the companies to give more information on risks and opportunities associated with climate change, NBIM said, with BP’s AGM scheduled for 16 April and Shell’s for 19 May.According to the proposal, this information should be included as a part of the companies’ annual reporting from 2016 onwards.Johnsen said that in line with the fund manager’s expectation document on climate change, it believed that boards should recognise the need to make “climate change related challenges and opportunities” part of investment planning and risk management.It was also important to make sure responsibility was clearly defined within the organisation, he said.“We commend the Boards of BP and Royal Dutch Shell for recommending support for the shareholder requisitioned resolution,” he said.Earlier this year, both BP and Shell said they were backing resolutions on climate change submitted by their shareholders. NBIM said the resolutions at the oil companies supported its own efforts in this area.“Climate, and possible financial risk connected to this, has been an important part of our responsible management for many years,” it said.NBIM noted this was the first time it had published its voting intention before an AGM.It announced last year that it would start going public in 2015 about how it would cast its vote at shareholder meetings.“We will publish our voting intensions for a selected number of companies and for certain fundamental issues that we emphasise in particular,” it said.“This is in-line with our strategy plan where it states that we will make our voting intentions public before the annual shareholder meetings to increase transparency, and encourage initiatives to strengthen the vote execution chain,” the manager said.The focus on oil companies comes days after the Norwegian government said it supported proposals for “broad critera” governing exclusion over climate concerns, but ruled out product-specific exclusions that would make a blanket ban on investment in certain sectors possible. Norway’s sovereign wealth fund is to back shareholder resolutions calling on Europe’s two biggest oil companies, BP and Shell, to reveal how climate change could affect their business models.The NOK6.4trn (€706bn) Government Pension Fund Global’s declaration was the first time the fund has made its voting intention known prior to a corporate annual general meeting (AGMs).Norges Bank Investment Management (NBIM), the investment manager of the fund based on revenues from Norway’s oil production, said it will vote in favour of the special shareholder requisitioned resolution, which was submitted for shareholder voting at the AGMs of BP and Royal Dutch Shell.Petter Johnsen, chief investment officer equity strategies at NBIM, said: “As a long-term investor, we believe that the identification of future scenarios for climate regulation, carbon pricing, and environmental conditions is a useful tool to support strategic decision-making and we thereby support these resolutions.”last_img read more

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Gerrard geared up for pre-season

By on September 21, 2020

first_img The England midfielder will miss the final two matches of the season as he requires an operation to rectify a problem which has troubled him for a while. It has not, however, prevented him from starting all 36 Premier League matches so far – in fact he has missed only 17 minutes of the league season after being forced off against Newcastle with some shoulder discomfort. “It’s disappointing but to be honest, (playing every league game) is not a very important personal achievement – what is more important is that I am fit and available for the team,” he told LFC TV. Liverpool captain Steven Gerrard is confident he will be fully fit for the start of pre-season after his campaign was prematurely ended by an injury to his left shoulder. “Between the medical staff and myself we’ve decided the best decision is to get it done now so I am ready for pre-season training. “I’m very disappointed to miss the last two games, but it’s a stage now where it’s probably better if another player plays because he’ll be able to offer more because the shoulder is quite sore.” Gerrard has played with the problem for more than three months but the problem has worsened in recent weeks. “I first got the injury against Oldham in the FA Cup when I came on as a sub and I’ve since aggravated it on numerous occasions,” he added. “The medical team and staff have been brilliant – they’ve helped me a lot and put a lot of hard work into getting me out there onto the pitch.” Meanwhile, winger Stewart Downing has expressed his determination to stay at the club – although he admits manager Brendan Rodgers will have the final say. “There have been some positive signs and personally I’d like to stay but that is the manager’s decision,” he said. center_img Press Associationlast_img read more

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Baždarević invited Players from the BHT Premier League for Testing

By on August 16, 2020

first_imgCoach of the national football team of BiH Mehmed Baždarević, together with other members of the Technical Department of the Football Federation of BiH and his associates, organizes a one-day gathering of 29 players from clubs competing in the BHT Premier League on April 5 in the Training Center Zenica. They will undergo certain tests and paly a control match. All invited players are candidates for the A team.Director of the Technical Department Denijal Pirić presented the plan of the gathering:“We have planned a one-day gathering after the matches in the 23rd round and the muster is scheduled on Tuesday at 9:15 a.m. We will start with testing at 10 a.m. already. At 3:30 p.m., the candidates divided into two teams will playy a control match. After that, they return to their everyday activities. In addition to these activities, on April 6 we will organize one workshop. Participants will be heads of coaching staffs in the BHT Premier League and coaches of all male national teams.Coach Baždarević and his coaching staff will prepare presentations on the “Contemporary methodology of work in physical preparation of a player” and “Preparing a team for a match”. We expect all attendees to actively participate in the discussion and share opinions about the topics,” Pirić said.Among the invited players are some former national team players as well, including Adnan Zahirović and Miroslav Stevanović. They are both playing for FC Željezničar now. Five more players from this club have been invited: Vedran Kjosevski, Srđan Stanić, Nermin Zolotić, Aleksandar Kosorić and Kerim Memija.Four players have been invited from the FC Sarajevo. One of them, Haris Duljević, already played in the friendly match with Switzerland.List of invited players is available here.(Source: read more

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