Principles for Responsible Investment ‘disappointed’ by Danish defection

first_imgSince then, investors affiliated with the PRI had ceased to be members of the organisation and the original annual general meeting had been abolished, it said.PRI managing director, Fiona Reynolds said: “The PRI is deeply disappointed this has occurred.”At its annual Signatory General Meeting in Cape Town in September, the PRI committed to undertake a review of its governance, she said.“The Council’s governance committee has already begun to define the scope of this review, which will be led by a new council chair expected to be appointed in early 2014,” Reynolds said.She said the PRI advisory council was democratically elected by signatories and made up of representatives from all three categories of signatory and regions of the world.Council members appoint the directors of the PRI association board, who oversee the work of the PRI Secretariat, she said.“The council and the board take governance seriously and are committed to continued improvements,” Reynolds said.The PRI organisation’s leaders had previously arranged to meet with the Danish signatories in Copenhagen on 13 January, adding that the PRI planned to continue with the meeting and hoped all of the funds concerned would attend.“Given the important work of the Danish pension funds in responsible investment, we hope the funds concerned will reconsider their decision at some point in the near future,” she said. The private body behind the UN’s Principles for Responsible Investment (PRI) has said it is “deeply disappointed” six Danish pension funds are leaving the organisation in protest at the way it is being run.The PRI insisted it took governance seriously and was committed to improving.On Friday, Denmark’s DKK600bn (€80.4bn) statutory pension fund ATP and five of the country’s other major pension funds said they were delisting from the PRI organisation because of a number of governance problems — but would still follow the principles themselves.ATP criticised PRI for a lack of democracy and transparency, which it said stemmed from a move by the organisation in 2010-11 to alter its constitution without involving members.last_img read more

The hack is whack — NBA needs to fix fouling abomination

first_imgI think what he was really saying was:We need to bar this stuff but the owners will be the ones to decide.If Silver is off to a happy start, no small accomplishment these days, he doesn’t rule with an iron hand as David Stern did in a happier, if less prosperous, age.If Stern made an egregious error or two — like rejecting the Lakers’ Chris Paul trade in a classic conflict of interest as commissioner and de facto New Orleans owner — he ruled absolutely with a league-wide interest.Despite assertions to the contrary, Stern was even-handed enough to draw down on his marquee teams.Ask the Lakers, who lost Paul. Ask the Knicks, who lost a 1997 series with Miami that they led, 3-1, after Stern suspended five of them, who had to serve their penalties in shifts in Games 5 and 6 in order for New York to have enough players.By the end of Stern’s 30-year reign in 2014, there were enough insurgent new owners to make Dallas’ Mark Cuban mainstream. That’s why the NBA took such a hard line in the 2011 labor negotiations, which slashed the players’ share of revenue from 57-43 to 50-50.It’s also why the union and its new director, Michelle Roberts, are girding for another knockdown, drag-out fight in 2017, with both sides expected to opt out of the current agreement.Barring hacking would be easy: Just adopt the same rules on fouling off the ball for the first 46 minutes that they use in the last two.If not, there’s no telling how far someone like Popovich will take it.As a basketball term, hacking came in with Shaquille O’Neal, whose name and giant teddy-bear perona lent themselves to constructions like “Hack-a-Shaq.”Happily for the Lakers, it was more of a chic term than a weapon.Nobody did it to O’Neal much, not even Pop. If he had, the Lakers might have one or two fewer titles.Popovich said he did’t think it was right. To his credit, he never changed his tune, even as his team got old and he was obliged to grasp for any gimmick to keep it afloat.With his team back on top, Pop kept hacking away, as needed. It had become a principle with him; anything less seemed like not doing all he could to win, however unseemly.“I’m torn in the sense free throws are part of the game,” Popovich said in March. “Just like if another team doesn’t play good defense, you try to take advantage of it. If they have people who don’t shoot free throws, you try to take advantage of it. The goal is it to win.“Does it look bad? Does it look ugly? It looks awful. There you have it.”Whatever it is, the tactic has turned this series.The Spurs tied the series by pulling out Game 2 in overtime after putting Jordan on the line 17 times, to make six.In game 5, with the series tied and nothing going right — the Spurs starters were a minus-30 in Tuesday’s first half — San Antonio brought the Clippers to another screeching halt, putting DJ on the line 16 more times.Jordan made seven but it hardy mattered. The more he hit, the more likely Pop figured he would miss the next one.When DJ made three of four in one stretch, Pop had Patty Mills foul him again. This time, Jordan missed both.Riveting as this may be, it’s not basketball the way I conceive of the game.I’d like to think this is hacking’s swan song.On the other hand, I’d like to see it go out in style with Pop hacking, say, Cleveland forward Tristan Thomas (64% at the line this season) down the stretch of Game 7 of the Finals, prompting cries of agony they can’t keep out of the league offices if they soundproof the place. By (jump) hook or by crook …To be sure, the Spurs have done nothing illegal or immoral to take a 3-2 lead over the Clippers.On the other hand, this series may be the farce that finally prompts the NBA to pull its thumb out of wherever it has been and bar the abomination that “hacking” has become.There are valid arguments on both sides of the issue. Before Game 5, a Clippers staffer I talked to argued in favor, asserting the principle of not legislating to protect players’ weaknesses. On the other hand, the fans hate it — appropriately, in my mind.That means the TV people — the ones who’ll soon be putting up $2.7 billion a year — hate it, too.And that, one can hope, should take care of that. Next case.When Commissioner Adam Silver tweeted that Game 2 was “bad television,” adding that he, himself, was “on the fence,” the significance lay in the fact that he had chosen to acknowledge the issue at all.Going farther, Silver promised “full-throated” discussions.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

NBA trade rumors: Pelicans have yet to counter Lakers’ offer for Anthony Davis

first_img NBA trade rumors: Pelicans, Celtics ‘discussed extensively’ Jayson Tatum-for-Anthony Davis deal Pelicans confirm Anthony Davis won’t play before trade deadline The Pelicans don’t want to give in.Los Angeles has made multiple offers to the Pelicans to acquire five-time All-Star Anthony Davis, but New Orleans has yet to make a counter offer and a lot of teams in the NBA are hoping it won’t, according to a report from ESPN. “(Pelicans GM Dell Demps) has not once picked up the phone and said, ‘OK, it would be four first-round picks, five first-round picks. He hasn’t given them, ‘hit this number, give me these players, give me this amount of picks,’ now what he’s expected all along was, the Lakers would absolutely have to overwhelm (them) with an offer, but he hasn’t defined to them what that would be.”The Pelicans could wait until the offseason to make a deal, and the Celtics are reportedly trying to convince them to do just that as they want to make an “explosive offer” for Davis when they are allowed to after July 1.The trade deadline is  Thursday at 3 p.m. ET.center_img The Pelicans don’t want to give in to a trade demand from the Lakers, via @wojespn.— NBA on ESPN (@ESPNNBA) February 6, 2019The Lakers latest offer to the Pelicans included two first-round picks, along with four players, but New Orleans still hasn’t given them an idea of what it would take to acquire the 2012 No. 1 overall pick.Wojnarowski reported Tuesday: ESPN’s Adrian Wojnarowski said Thursday on the Woj & Lowe show:”There’s a feeling in ownership, management, basketball ops in New Orleans that they just don’t want to give in to a trade demand to a team in L.A. that (Davis) can’t get to until the summer of 2020. And listen, there’s a lot of front offices around the league, owners around the league, rooting for New Orleans to hold pat.”Davis told reporters last week he never made a direct demand for the Pelicans to deal him to the Lakers. But, his agent reportedly included them in the list of teams he’d re-sign with if he were to be moved. Related Newslast_img read more