Norway tightens coal investment rules, expands renewable options for sovereign wealth fund

first_imgNorway tightens coal investment rules, expands renewable options for sovereign wealth fund FacebookTwitterLinkedInEmailPrint分享Bloomberg:Norway plans to tighten restrictions on coal investments for its $1 trillion sovereign wealth fund while opening it up for renewable-energy infrastructure assets.The government proposes to expand its coal ban by adding absolute caps on production of thermal coal, or its use in power generation, which would target big companies such as Glencore Plc, Anglo American Plc, BHP Group Ltd., RWE AG and Uniper SE. The current restrictions, introduced in 2015, have been criticized by politicians from opposition parties and environmental groups because their emphasis on relative thresholds mean miners and utilities with a big exposure to coal were left out.The government proposed to keep the current rules excluding companies that base more than 30 percent of their revenues or activities on coal, while adding absolute limits of 20 million tons of coal for miners and 10,000 megawatts for power capacity.To be sure, the current rules allow the fund to stay invested in a company in breach of the threshold if it has specific plans that would make it compliant at a later point, suggesting that could also be the case for the new restrictions. Norway’s coal ban has already led the fund to exclude 69 companies.The Conservative-led government earlier resisted calls from several political parties and environmental activists to allow the fund to invest in renewable infrastructure, but said on Friday that expectations of significant future investments in these assets made the market interesting.The government proposed a cap of 2 percent of the fund for renewable-energy infrastructure, and signaled that it would start out in developed markets only. It proposed doubling the upper limit on the so-called environment-related mandates to 120 billion kroner ($14 billion), it said in the statement.More: Norway wealth fund to tighten coal ban, add green infrastructurelast_img read more

Asheville Chosen for Haute Route Series

first_imgAsheville, North Carolina will be one of just three American cities, and the only city on the East Coast, to host a prestigious European cycling event next Spring.The three-day event, known as Haute Route, will begin and end in downtown Asheville each day and feature 300 riders from the United States and Europe. It is expected to have more than $1 million of economic impact in the region and solidify western North Carolina as a world-class cycling destination.Asheville skyline. Photo by Dusty AllisonSan Francisco, California and Cedar City, Utah were also chosen to host next year’s series, which is a shorter format version of the typical 7-day Haute Route series.“I think it will be great for the area. The cycling here is unbelievable, and I’m excited we’ll get to showcase that for Asheville,” former Haute Route champion and Brevard, North Carolina resident Matthew Busche told the Asheville Citizen Times.“The Haute Route is all about pushing your limits, so they’ll definitely make it hard. You really can’t ride easy around here anywhere.”Learn more about the 3-day Asheville Haute Route here.last_img read more

Kobe Bryant on whether Zion Williamson should play after injury: ‘Finish your commitment’

first_imgDespite many NBA players who have been vocal about the risk NBA-bound players, especially potential lottery picks, take with their future earnings by continuing to play, Blue Devils coach  Mike Krzyzewski explained over the weekend that Duke hasn’t discussed shutting down the star freshman.”We would never play a kid who’s not ready,” Krzyzewski said, per ESPN. “We would never play a youngster who didn’t want to play. It’s not about that. He wants to play. He loves being at Duke.”He doesn’t like being injured. It’s an injury you can get over in a shorter period of time. There’s just a protocol that we have to go through to make sure he’s completely ready. We’re not rushing anything, so that’s why we said day to day because it’s literally day to day.” “Players should be able to choose and decide what the hell they want to do, to be honest. Whether you want to go to college or not really depends on you,” Bryant told The Undefeated.”In terms of Zion, if he’s healthy, he should go play. He made a decision to go to college and injuries are a part of that process and sometimes you get hurt, sometimes you don’t, man. But you made the decision to go to college and you made your commitment to the university, then by all means finish your commitment. I expect him to get healthy, get his knee better or whatever it was and come out and kick a—.” Related News Zion Williamson’s injury, which he suffered just over a week ago, resulted in a strong reaction from the NBA world, with many calling for the freshman forward to sit out the remainder of the year and shift his focus to June’s draft.NBA legend Kobe Bryant, however, doesn’t believe that’s the route Williamson should take. Instead, Bryant believes that Williamson should fulfill his commitment to Duke and play again this seasons once he’s healthy. The Duke sensation, projected by most as the top pick in June’s draft, suffered the injury during the Blue Devils’ rivalry matchup against North Carolina on Feb. 20. He slipped, ripped open his shoe and immediately fell to the floor. Williamson grabbed the back of his leg before standing up and walking to the locker room with a noticeable limp and did not return.He has missed the team’s last two games against Syracuse and Virginia Teach as he’s considered day to day with a mild knee sprain. Duke hasn’t discussed shutting down injured Zion Williamson, coach Mike Krzyzewski sayslast_img read more