Sailing fund – Sail Theory http://sailtheory.com/ Wed, 08 Sep 2021 01:51:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sailtheory.com/wp-content/uploads/2021/06/icon-2021-06-25T011712.182-150x150.png Sailing fund – Sail Theory http://sailtheory.com/ 32 32 Students get high marks + About Commodore Wendy: Guilford Daily https://sailtheory.com/students-get-high-marks-about-commodore-wendy-guilford-daily/ Tue, 07 Sep 2021 21:52:26 +0000 https://sailtheory.com/students-get-high-marks-about-commodore-wendy-guilford-daily/ Get up, Guilford! Here’s everything you need to know to get a good start on Wednesday. Here’s everything you need to know about what’s happening in Guilford today. Are you a local business owner or trader in Guilford? Our premium local sponsorships keep you on top of inboxes in town every morning. Contact us here […]]]>

Get up, Guilford! Here’s everything you need to know to get a good start on Wednesday. Here’s everything you need to know about what’s happening in Guilford today.


Are you a local business owner or trader in Guilford? Our premium local sponsorships keep you on top of inboxes in town every morning. Contact us here for the truth.


First of all, the weather forecast for the day:

Rain overnight. High: 81 Low: 68.


Here are the best stories today in Guilford:

  1. Data: Shoreline Students Achieve High Proficiency Levels on State Tests (CT Insider)
  2. Setting a course: Whitney Peterson, new commodore of Sachem’s Head Yacht Club (Scuttlebutt Sailing News)
  3. Obituary: Rosemary (Peluso) Ostafin, 76, from Guilford (Guilford Patch)
  4. Fully renovated duplex for sale in Guilford (Guilford Patch)
  5. CT companies continue to struggle to find enough employees (New Haven Register)
  6. Veterans turn to community for help with VFW (WFSB) repairs
  7. CIAC 2021 Women’s Volleyball Sneak Peek: Players, Storylines & Matches to Watch (CT Insider)
  8. Edna Dodge Obituary (1938 – 2021) – Guilford, CT – New Haven Register (Legacy.com)
  9. Two Connecticut Residents Win $ 2 Million With CT Lottery (CT Insider)

Today’s Guilford Daily is brought to you from our friends at GoodRx – the best way to save money on your prescriptions. GoodRx helps you find the lowest prices for drugs at local pharmacies, so you don’t overpay. Also works for pet medications! To see how much you can save, visit GoodRx.com.


Today in Guilford:

  • Yoga basics: relax and renew yourself (9:30 am)
  • Inland Wetlands Commission – City of Guilford Clerk (3:00 p.m.)
  • Yoga Basics: Ageless Yoga Through Somatic Exploration (6:00 p.m.)

Guilford notebook

  • Coastal Shark Hockey: “We hope your friends, family and entertainment have filled your Labor Day! ” (Facebook)
  • Guilford Education Fund: “GFFE encourages students, teachers and all GPS employees tomorrow and throughout the year! Have a wonderful first day. We look forward to seeing you at our many exciting events this year! And let us know if you would like to join our mission of “pr …” (Facebook)
  • League of Voters of the East Shore: “The East Coast League of Voters will provide information on the candidates for the November general election. In the meantime, we have prepared some background information for the upcoming Republican Board of Education in Guilford … ”(Facebook)
  • Coastal Arts Alliance: “Our new backyard! Come visit us at our new office in Madison and find out more about all the programming we have in store for this year. We are open Tuesday through Thursday from 10 a.m. to 2 p.m. #ctarts #supportthearts #ctnonprofit #ctart “(Facebook)
  • League of Voters of the East Shore: “Unfortunately, this series is CLOSED. They hope to offer it again later. We will publish when it is released.” (Facebook)
  • Guilford Lakes Primary School PTO: “Shana Tova to our families in Guilford Lakes celebrating Rosh Hashanah. Have a sweet year and may only good and happy things be written for you in the Book of Life! ” (Facebook)
  • Guilford Lakes Primary School PTO: “If you would like, please visit the link to nominate our school for the Back to School contest, as a chance to increase fundraising for our playground project. Thank you! Https: // www. signupgenius.com/giveaway “(Facebook)
  • Center for Women’s and Family Life: “We invite you to participate in our monthly giving circle. Your monthly donation will allow us to serve more families in our Shoreline community to support our ongoing programs and help ensure the future growth of Women & Fam …” (Facebook )
  • League of Voters of the East Shore: “Tomorrow at the Legislative Office building is the first. A virtual hearing is also scheduled for September 14.” (Facebook)
  • Coastal Arts Alliance: “Meet Julie Fitzpatrick, recipient of the GPAF Artists’ Award in Spoken Word 2020 and subject of the next Guilford Performing Arts Festival artist profile! @gpafest Fitzpatrick interviewed over 70 Guilford residents to create his spo … ”(Facebook)

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That’s all for today. I’ll meet you in your inbox tomorrow morning with a new update! If you like these newsletters, consider bringing in some friends and neighbors. You can send them this link to subscribe.

~ Ellyn Santiago

Do you have any advice or suggestion for an upcoming Guilford Daily? I’m all ears. You can email me at ellyn.santiago@patch.com.

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New training program begins as ESG hits rough waters https://sailtheory.com/new-training-program-begins-as-esg-hits-rough-waters/ Thu, 02 Sep 2021 06:30:41 +0000 https://sailtheory.com/new-training-program-begins-as-esg-hits-rough-waters/ More and more accredited training is available online, reflecting the growing demand from investors for more consistent ESG analysis of companies. Candriam, a subsidiary of New York Life, launched a new training program to strengthen ESG analysis of companies. It comes as ESG sails through rougher waters as German and US regulators begin to probe […]]]>

More and more accredited training is available online, reflecting the growing demand from investors for more consistent ESG analysis of companies.

Candriam, a subsidiary of New York Life, launched a new training program to strengthen ESG analysis of companies.

It comes as ESG sails through rougher waters as German and US regulators begin to probe DWS for potential sell-outs, and as investors and regulators grapple with the messy reporting landscape of ESG.

DWS is not alone. All asset houses will be on high alert as appetite for sustainable investments soars and climate risk tops the political agenda. In the absence of industry standards governing the disclosure of ESG information by companies, the quality of analysis and what constitutes “ESG integration” has become a real minefield.

The Financial Conduct Authority published a lengthy advisory in July on improving ESG quality and clarity for the benefit of all.

“It is essential that funds marketed for sustainability and ESG clearly describe their investment strategies and that any statements about their objectives are reasonable and substantiated,” the FCA warned. “We have seen many applications for authorization of investment funds with an ESG or A number of them were poorly drafted and fell below our expectations,” he added.

The German regulator is under a new president and is warning companies against greenwashing. Its new head is Mark Branson, of British and Swiss nationality, who headed the Swiss markets authority Finma for seven years.

Much of the in-depth review of ESG funds is driven by the climate and the pressure comes from multiple stakeholders. ClientEarth’s environmental attorneys are among a host of groups consulting with the SEC this summer on how to strengthen U.S. economic stability and financial systems to withstand heightened climate risk.

ClientEarth’s U.S. legal team wants the regulator to create a federal office for environmental and social governance and invest resources in the whistleblower’s office to fund a dedicated ESG whistleblower center and whistleblower hotline.

The House of Representatives passed its own legislation in June introducing ESG disclosure rules that are expected to face Republican opposition in the Senate.

The challenge is to quantify the path to net zero and what are the best existing companies and solutions that stack up. Impatience is growing because ESG investments are seen as a problem rather than a solution.

“Financial products can be a source of change, but not if you don’t focus on the right companies and the right, relevant solutions,” said Gabriela Herculano, CEO of iClima. The start-up is part of a wave of data analysts who are motivated to put decarbonization on a clearer and more aggressive path.

Herculano, whose background is in private equity renewables, says the problem continues to be about tangible metrics: “We have talked to suppliers and there is no consensus on how to assess companies. based on E, S, and G measures, and no consensus on how to put all the numbers together. Funds are put in place and billions are raised to represent companies that have very high ESG scores. But what is the common denominator? What is the point ? What is the impact ?

Herculano believes that the impact will remain limited while decarbonization is a cost item for companies. “Companies are looking for the fruit at their fingertips to reduce their Scope 2 emissions and do just enough to stay in the Paris Agreement and be lumped into these ‘less harm’ groups of ETF companies,” while the focus should be on avoidance of emissions, she said.

A thirst for ESG education and understanding arguably replaces the marketing rhetoric that has dominated the industry for the past two years.

Candriam’s new training model is the 4th 11-module ESG course at the academy, which serves around 8,000 members in 40 countries. The module aims to guide investors through five steps to understand a company’s ESG risk profile. The steps include examining a company’s income and expenses to understand its core business and future direction; examine how these activities align with sustainability goals; consider whether the operational conduct of the company presents possibilities for future controversies; pursue the continuous analysis of the company as the best warning system; and be able to meaningfully compare ESG data across different business functions, including business engagement.

“While financial information has been subject to disclosure in a number of markets for some time, the scope of information available to investors for ESG analysis can vary significantly from company to company. We therefore felt it was important to draw on our own responsible investing experience to guide investors on the key steps required in their own ESG analysis as part of investment decision making, ”said David Czupryna , head of ESG development at Candriam.

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Editorial: The Hope of Despair https://sailtheory.com/editorial-the-hope-of-despair/ Sat, 28 Aug 2021 19:59:53 +0000 https://sailtheory.com/editorial-the-hope-of-despair/ As if catching a deadly mutant virus and cyberbullying weren’t enough to worry about this school year, a Sunday Denver Post article by Elizabeth Hernandez explains that climate change has become a source of depression, dysfunction and a general feeling among us that life is useless. . The recently released report of the Intergovernmental Panel […]]]>

As if catching a deadly mutant virus and cyberbullying weren’t enough to worry about this school year, a Sunday Denver Post article by Elizabeth Hernandez explains that climate change has become a source of depression, dysfunction and a general feeling among us that life is useless. .

The recently released report of the Intergovernmental Panel on Climate Change, which included contributions from Boulder scientists, tells us unequivocally that our future looks bleak, with average and extreme temperature changes higher across the globe. , unless we as human beings collectively change our behavior and stop burning oil, gas and coal.

Scientists brought together by the United Nations for this comprehensive new report give us a clear vision of our future if we do nothing: rising sea levels, melting glaciers and severe weather events like tropical cyclones and dust storms. In our part of the world, that means more fires, droughts, torrential rains and floods. In other words, no one is safe – not humans, who will suffer and die from massive heat waves; not aquatic life sensitive to changes in water temperature that affect oxygen levels and acidity, and not critical terrestrial biodiversity which will experience irreversible deaths.

We created this, the scientists say, without a shadow of a doubt: “It is unequivocal that human influence has warmed the atmosphere, the ocean and the land.

Life indeed seems pointless, especially if you are young and plan to have children. And certainly if you are younger and cannot fully understand the big picture, but feel the stress of adults in the room.

Therapy is an obvious solution to treating mental health issues stemming from climate change and there’s even a name for it: eco-bereavement counseling. At least one counselor in Denver Post history has seen a 75% increase in the number of customers reporting symptoms, including anxiety related to wildfires.

This type of depression probably stems from a feeling of loss of control on a monumental scale, and which leads to inaction. But teachers in Boulder Valley and children around the world are showing us that taking action – from small projects to impressive feats – can empower them and inspire others to do the same.

For example, in the fall of 2019, students in John Mattson’s grade 7 science class at Platt Middle School were overjoyed to learn they could call a school climate strike, supported by teachers and administrators. Their story is available on the BVSD website by Carolyn Nohe.

“I want to do something. But I feel like I can’t, ”student Meagan Hoff explains in the story. “I felt like it was a way for me to support what I believe in. “

Middle school kids are actually the perfect age, Mattson says. “… They are not jaded. They don’t feel like it’s time to give up yet. Somehow we have to maintain this. “

BVSD students say they were inspired by Greta Thunberg, who spoke in September of the same year at the United Nations Climate Action Summit in New York. At 16, the Swedish climate activist was making headlines for crossing the Atlantic aboard a zero-emission yacht, showing our young people that they have the power to change the world.

A family in Andover, New Hampshire, spurred on by their 8-year-old, cycled to hear Thunberg, setting up camp along their three-week hike. The trip was a fundraiser to install solar panels at their school and for future projects under KidsCare4PolarBears, a Facebook page that documented their ongoing efforts.

While not everyone has a yacht or wants to sail 250 miles in the rain, these examples, along with those from BVSD, show how, at the local level, we can help our young people be engaged and resilient in the face of challenges. such disastrous news on climate change. Projects can be simple, like creating art, performing a play, or illustrating a book to raise awareness about climate change.

Our Boulder and St. Vrain Valley schools and teachers have a proven ability to make creative projects happen. And there are plenty of resources, including the World Wildlife Fund, which has a program called Panda Ambassadors where conservation activists of all ages can get tips and tools to promote specific projects they’re most passionate about. The Nature Conservancy invites anyone to join its Plant a Billion Trees program.

Reversing the path may seem overwhelming, and without a doubt, people feel deep despair in the face of the climate crisis. But we can all find hope in even the smallest creative efforts for change. We owe it to the next generation to help them dream and find their own way to love our planet.

– Julie Marshall for the editorial board

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cape codder letters to the editor August 6, 2021 https://sailtheory.com/cape-codder-letters-to-the-editor-august-6-2021/ Wed, 25 Aug 2021 19:25:57 +0000 https://sailtheory.com/cape-codder-letters-to-the-editor-august-6-2021/ Letters policy Letters should include the author’s name, phone number, and hometown, and can be up to 300 words long. Letters that focus on local issues concerning the Lower / Outer Cape take priority. The deadline is Monday noon. The space is occupied on a first come first basis. Authors are limited to one letter […]]]>

Letters policy

Letters should include the author’s name, phone number, and hometown, and can be up to 300 words long. Letters that focus on local issues concerning the Lower / Outer Cape take priority. The deadline is Monday noon. The space is occupied on a first come first basis. Authors are limited to one letter per 30 day period. Email editor-in-chief Donna Tunney at dtunney@wickedlocal.com. Guest comments, up to 500 words, are posted subject to availability. Email the editor or call 774-722-1160 to discuss submitting a comment.

The following letters appeared in the print edition of August 6, 2021:

For the publisher:

Thank you to the many people who have been so generous with their donations to the Thomas M. Conrad Scholarship Fund. Your support and contributions to this cause will change the lives of many students for years to come.

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Why Doximity Stock jumped on Monday https://sailtheory.com/why-doximity-stock-jumped-on-monday/ Mon, 23 Aug 2021 20:29:45 +0000 https://sailtheory.com/why-doximity-stock-jumped-on-monday/ What happened Actions of Proximity (NYSE: DOCS) traded higher on Monday, climbing to 14.8% on rising investor enthusiasm, although the stock ended the trading session up 14%. The cloud-based service for doctors and other healthcare professionals hasn’t climbed on any specific news, but has been riding a wave of positive sentiment that began with its […]]]>

What happened

Actions of Proximity (NYSE: DOCS) traded higher on Monday, climbing to 14.8% on rising investor enthusiasm, although the stock ended the trading session up 14%. The cloud-based service for doctors and other healthcare professionals hasn’t climbed on any specific news, but has been riding a wave of positive sentiment that began with its first financial report as a public company. In total, the stock has gained more than 60% since the publication of its results on August 10.

So what

For its first quarter of fiscal 2022 (which ended June 30), Doximity generated revenue of $ 72.7 million, up 100% year-over-year, accelerating from annual growth of 36% and 78% in fiscal 2020 and 2021, respectively. The company also generated earnings per share of $ 0.09, up from the breakeven quarter of the previous year.

Image source: Getty Images.

Doximity also benefited from positive comments from CNBC’s Jim Cramer. The TV personality and former hedge fund manager said investors should “absolutely” buy Doximity shares, calling her a “star” and “the best of the best.”

“Their EBITDA [earnings before interest, taxes, depreciation, and amortization] the margin was 43%, ”added Cramer. “Analysts were only looking for 30%. It’s extraordinary.”

Now what

Investors are also celebrating Doximity’s strong outlook for its fiscal second quarter and full year. The company expects revenue of $ 73.5 million at the midpoint of its forecast, beating analysts’ consensus estimate of $ 71.8 million. Additionally, for fiscal 2022, Doximity forecasts revenue of between $ 296.5 million and $ 299.5 million, ahead of analyst expectations of $ 295.5 million.

The company’s acceleration in revenue, earnings growth and positive commentary from analysts have sparked investor enthusiasm for its outlook.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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Andrew Fulchiero Obituary (3/2/1957 – 8/18/2021) – Niantic, CT https://sailtheory.com/andrew-fulchiero-obituary-3-2-1957-8-18-2021-niantic-ct/ Sun, 22 Aug 2021 04:53:16 +0000 https://sailtheory.com/andrew-fulchiero-obituary-3-2-1957-8-18-2021-niantic-ct/ Niantic – Andrew “Andy” Fulchiero of Niantic, died on August 18, 2021 at Lawrence + Memorial Hospital after a courageous battle with pancreatic cancer. Andy was born on March 2, 1957 to Anna and Egidio Fulchiero from Niantic. He graduated from East Lyme High School in 1975 and forged a non-traditional path. He took a […]]]>
Niantic – Andrew “Andy” Fulchiero of Niantic, died on August 18, 2021 at Lawrence + Memorial Hospital after a courageous battle with pancreatic cancer. Andy was born on March 2, 1957 to Anna and Egidio Fulchiero from Niantic. He graduated from East Lyme High School in 1975 and forged a non-traditional path. He took a break from the University of Connecticut to sail the Caribbean, with his brother Franco on a boat they helped build. He then returned to UConn to study electrical engineering and graduated in 1985; and then graduated from the Rensselaer Polytechnic Institute in 1993.

Throughout his life, he held several interesting jobs, and even crossed the door of the roof of the world by crossing the Arctic Circle, by submarine in 1986. He was a truck driver, medical device technician and engineer in cardiac catheterization laboratory. at Boston Children’s Hospital, to name a few. Most recently, he has spent the last six years working as a software engineer for Telux Systems at the United States Coast Guard Academy.

Andy was calm, yet selfless and truly enjoyed every minute of his life. He loved his family and was the happiest with all of his daughters around him. He enjoyed sailing in Niantic Bay, cooking delicious Italian meals with his wife, tending to his aquarium and spending time with his children. Even though he was kidnapped too early, he lived a fulfilling life surrounded by people who adored him. Anyone will agree that his kindness and gentle spirit left a lasting impression on everyone he met.

Andy was predeceased by his father Egidio. He is survived by his wife of 34 years, Liliana (Tassone); his mother Anna; her siblings, Franco, Anita, Cristina, Carol and Ralph; her children, Rosanna and her husband Clayton, Graziella and Adriana; as well as countless other friends and relatives.

The family would like to sincerely thank Dr Constantine Manthous, Dr Stephen Lattanzi and the staff at Smilow Cancer Center, as well as the amazing nurses and patient care assistants of Unit 6.2 at Lawrence + Memorial Hospital who provided exceptional care until the end.

A commemorative Christian burial mass will be celebrated at 11 am on Thursday August 26 at St. Agnes Church. There are no calling hours. In lieu of flowers, please donate to the Smilow Waterford Patient Relief Fund to support other cancer patients. Thomas L. Neilan & Sons East Lyme Funeral Home helps the family make the arrangements. Please visit www.neilanfuneralhome.com to leave condolences online.

Posted by The Day on Aug 22, 2021.

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UK worries over chipmaker mega buyout https://sailtheory.com/uk-worries-over-chipmaker-mega-buyout/ Sat, 21 Aug 2021 18:00:00 +0000 https://sailtheory.com/uk-worries-over-chipmaker-mega-buyout/ Afp, London Sun Aug 22, 2021 12:00 AM Nvidia controlling Arm could create real problems for Nvidia’s competitors by limiting their access to key technologies and ultimately stifling innovation in a number of important and growing markets. AFP / File “> Nvidia controlling Arm could create real problems for Nvidia’s competitors by limiting their access […]]]>

Nvidia controlling Arm could create real problems for Nvidia’s competitors by limiting their access to key technologies and ultimately stifling innovation in a number of important and growing markets. AFP / File

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Nvidia controlling Arm could create real problems for Nvidia’s competitors by limiting their access to key technologies and ultimately stifling innovation in a number of important and growing markets. AFP / File

Britain said on Friday that a plan to buy chip designer Arm by US company Nvidia raised “serious competition concerns,” while the deal could still be considered for security reasons.

Japanese group SoftBank revealed nearly a year ago that it was selling British firm Arm for up to $ 40 billion (€ 34 billion) in a deal it hoped to close early. 2022 following competition reviews in multiple jurisdictions.

For all the latest news, follow the Daily Star’s Google News channel.

Following its own investigation, the UK Competition and Markets Authority highlighted concerns which included possible increases in semiconductor prices, already facing a global shortage due to the pandemic and particularly affecting the automobile sector.

“We are concerned that Nvidia controlling Arm could create real problems for Nvidia’s competitors by limiting their access to key technologies and ultimately stifling innovation in a number of important and growing markets,” said Andrea Coscelli, Managing Director from CMA, in a press release.

He noted that the chip technology industry was “vital” to everyday products.

“This includes critical data processing and data center technology that support digital businesses across the economy, as well as the future development of artificial intelligence technologies that will be important to growth industries like robotics and self-driving cars, ”Coscelli said.

The CMA said it had reported its takeover concerns to the UK government’s digital industry affairs department and argued that “a full investigation of the deal … is warranted on the grounds of competetion”. The watchdog has meanwhile confirmed that the takeover could still be the subject of a full investigation in the UK on national security grounds.

It comes as Britain this week ordered an investigation into the takeover of British defense technology company Ultra Electronics by US Cobham in order to assess security risks.

In a statement released on Friday, Nvidia said it looked forward to the opportunity to present “the initial views of the CMA and resolve any concerns the government may have,” adding that it remains confident that the ‘deal “will be beneficial to Arm, its licensees, competition and Great Britain.”

Founded in 1990, Arm specializes in microprocessors and dominates the global smartphone market. But its chips are also found in sensors, smart devices and cloud services.

Nvidia, known for its favored graphics cards in the video game industry, saw sales skyrocket during the coronavirus crisis, with gaming being a popular hobby on lockdown. SoftBank bought Arm in 2016 for $ 32 billion.

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Fifty Shades of Green: EU rules on sustainable funds muddy the waters | The powerful 790 KFGO https://sailtheory.com/fifty-shades-of-green-eu-rules-on-sustainable-funds-muddy-the-waters-the-powerful-790-kfgo/ Thu, 19 Aug 2021 05:58:10 +0000 https://sailtheory.com/fifty-shades-of-green-eu-rules-on-sustainable-funds-muddy-the-waters-the-powerful-790-kfgo/ By Tommy Wilkes LONDON (Reuters) – If you want to invest in a fund that qualifies as sustainable under the new European Union rules, you are spoiled for choice. But you could end up owning stocks in oil companies, mining conglomerates, or tobacco companies. A Reuters analysis of funds marketed to increasingly greedy retail investors […]]]>

By Tommy Wilkes

LONDON (Reuters) – If you want to invest in a fund that qualifies as sustainable under the new European Union rules, you are spoiled for choice. But you could end up owning stocks in oil companies, mining conglomerates, or tobacco companies.

A Reuters analysis of funds marketed to increasingly greedy retail investors shows that asset managers are adopting a wide range of strategies to justify the sustainable label since the EU introduced disclosure rules in March.

The EU’s Public Financial Disclosure Regulation (SFDR) is an attempt to provide transparency to investors focused on environmental, social and governance (ESG) issues, but fund managers say the definition of the durability is too vague and has created confusion over what makes the cut.

Take the Allianz Global Water fund.

It actively invests in companies that improve the supply, management and quality of water and is marketed as falling under Article 8 of the SFDR, which means that it is a fund that promotes “ among other characteristics, environmental or social characteristics, or a combination thereof. characteristics”.

Now take one of Legal & General Investment Management (LGIM) Article 8 Exchange Traded Funds (ETFs).

The L&G UK Equity UCITS ETF tracks the Solactive Core United Kingdom Large & Mid Cap Index, which excludes coal miners and companies that manufacture weapons such as cluster bombs or have violated UN principles https: //www.unglobalcompact.org/what-is- gc / mission / principles on corporate values.

Its top 10 holdings are the same as for L&G funds following the FTSE 100 index which do not carry the Article 8 label and include oil giants BP and Royal Dutch Shell, miner Rio Tinto and British American Tobacco.

L&G said the fund was considered Article 8 because it promotes sustainability characteristics by applying LGIM’s Future World Protection List and it is a “binding element” of the investment process.

“The lens we should be using is what’s right. It’s not just about what is legally required, as it seems that little is legally required, ”said Eric Christian Pedersen, responsible investment manager at Nordea Asset Management.

GREEN RUSH

The new EU rules have sparked a rush of investment firms to label products as sustainable as they seek to seize a share of the booming sustainable mutual fund market which has reached a record 2, $ 3 trillion in the second quarter.

From March 10, the rules automatically placed all investment funds in an article 6 combination category. Managers could then move them to article 8, or article 9, which concerns products with an explicit objective of sustainable investment.

The investment industry has dubbed Article 8 funds “light green” and Article 9 “dark green”, although EU regulations do not use these terms.

A spokesperson for the European Commission said its rules were designed to ensure that funds were transparent about product sustainability so that investors could make choices, and that it was not a system of labeling.

Reuters asked 20 of the largest fund companies for a list of the products they market as Article 8 or 9.

An analysis of the funds of the 14 responding companies shows that some Article 8 products have limited claims to sustainability, such as those that track conventional stock and bond indices, invest in fossil fuels, or buy country debt. to low ESG standards like Saudi Arabia and Nigeria.

Some claims are based on funds excluding securities that they would not have purchased anyway, based on the index being tracked.

For some in the industry, this represents what’s called greenwashing, where the benefits of a business or asset are overstated to attract environmentally conscious investors.

Hortense Bioy, director of sustainability research at Morningstar, said Article 8 funds ranged from climate-themed green to “very, very light green,” to the exclusion of a few companies.

“Managers need to ask themselves if they are even relevant,” she said. “This is the key message: investors should not expect anything from Article 8.”

INDEX TRACERS

Industry experts say none of the asset managers are breaking the rules. The managers themselves determine which article to apply and Brussels does not check whether the complaints are justified.

Reuters analysis shows that some managers are more likely to qualify funds as sustainable than others.

Two of Europe’s largest companies, Alliance Bernstein and AXA Investment Management, rank nine out of 10 euros of assets they manage within the scope of the SFDR as Article 8 or 9, depending on the data they provided to Reuters.

Others, like Pictet Asset Management and Allianz Global Investors, place just over half of their affected assets in these categories, according to their data.

Morningstar data released in July shows that one-third of SFDR assets are now billed as item 8 or 9, with item 6 products disappearing from recommendation lists sent by investment advisers to retail investors .

Many Article 8 funds have clear sustainability criteria, such as strategies that invest in companies with the lowest carbon impact in their sectors, or Allianz’s water-focused fund.

For others, this is not always the case. Another Article 8 product is Candriam’s Cleome Europe Equities Index. It tracks the MSCI Europe Index but excludes companies that do not adhere to UN principles.

Critics say these exclusions are very limited.

When asked for an example, Candriam did not point out any companies excluded from the United Nations list that are also part of MSCI Europe. The 10 main holdings of the Candriam fund track the index.

A Candriam spokesperson said it also applies exclusions to companies materially involved in controversial weapons, tobacco and thermal coal, and that the Cleome equity fund uses proprietary ESG analysis against the index. of reference, justifying article 8.

Morningstar analysis shows that one in four Article 8 funds are exposed to companies involved in controversial weapons and one in five to tobacco. One-third of Article 8 and 9 funds have more than 5% exposure to fossil fuel companies.

ESG “BAD”?

The demand for funds with a sustainable label is booming.

“There is a clear business opportunity,” said Eric Borremans, ESG manager at Swiss company Pictet Asset Management, which classifies 57% of its assets in Article 8 or 9.

Borremans said Pictet does not have Article 8 index funds, but plans to apply the label to some after incorporating more exclusions.

U.S. investment giant BlackRock told Reuters it expects to exceed the target of 70% of its new or renamed products this year under Articles 8 or 9.

Some funds use ESG thresholds to justify sustainable labels.

JPMorgan Asset Management claims that 51% of securities in its Article 8 lineup should have an ESG score in the top 80%. These are scores that fund companies or third-party providers give to companies based on ESG metrics such as carbon use, governance or human rights in supply chains.

Critics say these thresholds are too low.

“You have funds that say most of our holdings are not bad and therefore I am ESG,” said Pedersen at Nordea, which requires 100% of its Article 8 holdings to be above ” a minimum ESG score.

JPMorgan’s threshold, for example, also means that 49% of the companies in its funds could rank in the lowest 20% for ESG goals, although the funds exclude sectors such as tobacco, controversial weapons and retailers. coal miners.

JPMorgan Asset Management did not respond to questions about ESG scores. A spokesperson said the cabinet remained “focused on a thoughtful and thorough approach to the implementation of the SFDR.”

Pictet’s Borremans said funds that loosely interpret the rules now may get away with it, but strategies sailing close to the wind will eventually be exposed.

By next year, the EU will expand its taxonomy – a list of environmentally sustainable economic activities – and from July 2022 funds will need to detail how they meet sustainability criteria based on technical standards. EU regulations (RTS) that will clarify disclosure requirements.

“It could damage an asset manager’s reputation for offering financial products falling under Articles 8 and 9 or aligned with taxonomy if this cannot be sustained later when the RTS comes into effect”, said the European Commission spokesperson said in comments sent by email.

Amundi’s cross-border product manager Florian Schneider said the SFDR rules made it clear that products with minimum exclusions were Article 8.

“The danger is that everyone is blindly assuming that all Article 8 funds offer the same level of ESG integration when there are very different shades of green.”

($ 1 = 0.7274 pounds)

(Additional report by Simon Jessop; Editing by Sujata Rao, Alexander Smith and David Clarke)

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Explained: understand what the new draft law on inland navigation vessels aims to achieve https://sailtheory.com/explained-understand-what-the-new-draft-law-on-inland-navigation-vessels-aims-to-achieve/ Mon, 09 Aug 2021 14:29:56 +0000 https://sailtheory.com/explained-understand-what-the-new-draft-law-on-inland-navigation-vessels-aims-to-achieve/ Parliament passed a new law last week that will standardize the rules and regulations governing inland waterways and navigation in India. The new law aims to develop Indian waterways as a viable and prosperous mode of transport, especially for freight. The Inland Vessels Bill, 2021 replaces the Inland Vessels Act, 1917. One of the main […]]]>

Parliament passed a new law last week that will standardize the rules and regulations governing inland waterways and navigation in India. The new law aims to develop Indian waterways as a viable and prosperous mode of transport, especially for freight.

The Inland Vessels Bill, 2021 replaces the Inland Vessels Act, 1917. One of the main things that the new legislation seeks to do is to subdue all of India’s inland waterways and the movement of ships on them for any purpose under a central regulatory regime.

India has nearly 15,000 km of inland waterway network including rivers, canals, backwaters, creeks, etc.

The Inland Vessels Act of 1917, which was replaced by the new legislation, was intended as pure consolidating legislation with limited applicability and purposes, according to the government. The law had undergone several changes, the last major changes having been enacted in 1977 and 2007.

“This law included provisions relating to the restrictive movement of power-propelled vessels under the jurisdiction of the state government, the requirement for approvals, the limited enforceability and validity of non-uniform certificates, standards and regulations that varied from state to state, resulting in obstacles and obstacles in seamless navigation through states and development of the sector, ”said an official statement.


The new law defines mechanically propelled vessels as ships, boats, sailboats, container ships and ferries. The Center, empowered by the new law, will oversee the classification, design, construction and crew accommodation standards, as well as the type and frequency of visits, for these vessels.

The construction or modification of these vessels will require the prior approval of a designated authority, as prescribed by the central government. All such vessels must be registered with the respective States or Union Territories. The movement and identities of the vessels will be recorded in a central database.

In 2016, the NDA government notified 111 inland waterways as National Waterways of India under the National Waterways Act 2016. box).

The Inland Waterways Authority of India, under the Ministry of Navigation, is developing national waterways for commercial navigation, notably with the help of the World Bank.

One of the opposition criticisms the bill has received is that it takes away a lot of state rights and puts them in the hands of the Center.

The new law passed now prescribes certain dos and don’ts. For example the rules of operation.

To operate in inland waters, vessels must have a survey and registration certificate. Those owned by Indians must be registered with the Registrar of Inland Vessels (appointed by the state government). Once registered, it will be valid throughout India.

While the state government will issue the certificate, the form will be prescribed by the Center, much like in the case of motor vehicles. Like motor vehicles, ships must be insured. The certificate will also mention the inland water zones (operating zones to be delimited by the States) for these vessels.

Mechanical vessels must meet certain specifications for signals and equipment to ensure safe navigation, as specified by the central government.

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The new law states that in the event of distress or an SOS signal sent by a ship’s captain, any other nearby ship must respond, much like maritime custom and rules at sea. nearby vessel does not come to seek help, it will be liable to a fine of up to Rs 10,000, unless it has not provided such assistance for certain specified reasons.

In the event of an accident, the nearest police station should be involved for investigation and action. The local district magistrate can also organize an investigation and recommend action.

The law says that the Center will prescribe the minimum number of people ships must carry for various roles and what the qualification of the personnel must be. Failure to comply with this rule will result in a penalty of up to Rs 10,000 for the first offense and Rs 25,000 for subsequent offenses.

The law empowers the central government to prescribe what type of pollutants and sewage vessels and can discharge and how much. As in the case of motor vehicles, the law empowers the Center to prescribe the format in which states can issue certificates of controlled pollution.

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Regarding the future development of inland navigation, being a new sector, the bill also provides for the maintenance of a fund that will be used for emergency preparedness, pollution control and strengthening of navigation. The fund will come from state government programs, the sale of cargoes and wrecks, and stakeholder contributions.

The new law also covers future developments and technological advances in the construction and use of ships. Regulate technologically advanced ships of the present and the future identified as “special category ships”.

The government wishes to promote inland waterways, particularly in addition to the movement of goods through India. Indeed, the mode has been recognized worldwide as environmentally friendly and economical, especially for goods that do not depend on the speed of delivery.

According to a government study conducted by RITES, one liter of fuel displaces 24 tonne-km on the road; 95 tonne-km on rail and 215 tonne-km on inland waterways.

On railways it takes around Rs 1.36 to move a ton of goods over a kilometer, on highways it takes Rs 2.50, while the same takes Rs 1.06 on inland waterways.

Heavily underutilized today, India’s waterways transport around 55 million tonnes of cargo each year. Movement is currently limited to the Ganga-Bhagirathi-Hooghly, Brahmaputra, Barak rivers, rivers of Goa, Kerala backwaters, inland waters of Mumbai and the deltaic regions of the Godavari – Krishna rivers.

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Dorset Community Foundation appoints elected president as quartet of trustees join board https://sailtheory.com/dorset-community-foundation-appoints-elected-president-as-quartet-of-trustees-join-board/ Fri, 06 Aug 2021 12:35:44 +0000 https://sailtheory.com/dorset-community-foundation-appoints-elected-president-as-quartet-of-trustees-join-board/ THE FORMER CEO and businessman of a charity, Tom Flood, is the president-elect of the Dorset Community Foundation. Tom, who took the helm of The Conservation Volunteers over a 26-year career, got involved in the community foundation when he established a youth support fund in memory of his late partner Paul Cornes. He will replace […]]]>

THE FORMER CEO and businessman of a charity, Tom Flood, is the president-elect of the Dorset Community Foundation.

Tom, who took the helm of The Conservation Volunteers over a 26-year career, got involved in the community foundation when he established a youth support fund in memory of his late partner Paul Cornes.

He will replace Jeremy Mills in December and is one of four new directors to join the community foundation since late last year.

Dorset Community Foundation Director Grant Robson said:

“I want to thank Jeremy Mills for all the support and encouragement he has given me over the past few years. His contribution has been enormous.

The President-elect said:

“I am extremely proud and honored to be invited to be the President-elect because my personal interest means I would like this organization to be a true shining light of Dorset. With the arrival of new directors, we have a great opportunity, with the caliber and experience of these people, to do so. “

Mr Flood, who also had a career in sales at 3M, moved to Dorset in 2012 with his partner, who was a strong advocate for youth education. Mr Cornes was diagnosed with prostate cancer in 2017 and died last year.

He said:

“Paul always told me to aim high and go for it. He’s the reason I’m involved, and that’s the reason I will approach this with total passion and professionalism because I couldn’t let him down.

Former Fire Chief Terry Standing will become the new vice president of the community foundation after joining him late last year.

The avid sailor will combine his new role with his ‘day job’ as skipper of the former 72ft BT Global Challenge yachts for the Tall Ships Youth Trust.

Mr Standing, who spent 31 years in the fire and rescue service, ending his career as Gloucestershire Fire Chief, He only started sailing 12 years ago but is now a qualified yacht master.

He said:

“I’m quite late to sail, but usually when I get involved in something I like to do it.

“I’m at sea ten or eleven months a year, but I manage to fit the work for the Dorset Community Foundation into that too because I want to make a difference.”

While in Gloucestershire he became involved in community foundation there and was eventually appointed vice president. He therefore knows all their qualities.

He said:

“We are that golden thread that connects the rich in the county with those who are underprivileged through a range of charities and individuals, so I see it as the number one place to support communities.”

New trustee Deb Appleby also knows the value of community foundations after serving as Executive Director of Quartet, the Community Foundation of South Gloucestershire, Bristol and Bath and North Somerset.

She also trained in local government after a stint at Dorset Council and was also involved with the Surrey Community Foundation and a major national charitable donor.

Last year, she stepped down from her last role but responded to a call for volunteer reviewers for Dorset Coronavirus Community Fund grants last March.

She said:

“I believe in community foundations because they have a unique ability to match funders who care about their local community with people who roll up their sleeves and do something about it. “

When Louise Coulton and her husband Rob bought a holiday flat in Southbourne six years ago to take a break from life in London, she had no idea it would lead her to become a trustee in her adopted county.

She said:

“We started going down on a Saturday and coming back on a Sunday. Then it went down on Friday, then it went back on Monday, we spent more and more time here. Three years ago we sold our house in London and moved here permanently.

After a 25-year career in financial services, 14 of which in compliance, starting with the Financial Services Regulator, she said she can use her experience to help the community foundation.

She said:

“I want to do something where I give something back where I can actually use the skills I have developed to really help people’s lives and help improve the community.”

Mr Robson said of the new additions to the board:

“It’s a very difficult time for the voluntary sector, but it’s also exciting for us to bring all of this experience and knowledge on board. The responsibility we have to the communities of Dorset is greater than ever, but having such energy and expertise behind us will be a huge asset. “

To learn more about the work of the Dorset Community Foundation, visit: dorsetcommunityfoundation.org.

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