PGGM calls for integration of ESG ‘veto’ for all asset classes

first_imgDutch pension fund manager PGGM is to develop its ESG integration by expanding its expert “veto” policy into all asset class investments.The €178bn asset manager currently operates a policy where ESG-dedicated investment staff sit on investment committees with the right to veto transactions that do not meet set standards.Eloy Lindeijer, CIO at PGGM, said this policy allowed the manager to incorporate ESG and responsible investment decisions at the core of its business.However, the manager is now looking to expand this policy and have responsible investment staff sitting in all asset class departments. Speaking at the World Pension Summit in The Hague, Lindeijer described the policy as a “powerful change”.“[ESG staff] have strong representation on investment committees with the ability to veto transactions if they do not meet the standards we have set on perhaps remuneration,” he said.“We are now thinking about integrating this group further.”He said the team had been kept separate for many years but added that, as the fund moved from “responsible investing 2.0 to 3.0”, it needed more integration.“We are thinking about integrating the staff into the [asset class] departments,” he said.“We have not quite figured out we might do this, but, ultimately, we want to have [responsible investing] fully integrated into the whole process.”He also called on other investors wanting to increase or develop their approach to responsible investing to copy the system.“[The team] are a powerful force,” he said. “If you’re starting to think about setting up ESG practices, you should give this power to someone in your organisation who can work on develop policies and has a veto.”Lindeijer also praised the support of client PFZW, adding that its goal to be ESG-focused had given the asset manager a strong foundation to incorporate these policies.PFZW, the pension scheme for healthcare workers, recently committed to quadrupling its sustainable investments and halving its carbon footprint in six years.Peter Borgdorff, managing director of the €152bn fund, earlier told delegates a scheme’s responsibility was not only to provide income in retirement but also to help build a world members want to retire in.PGGM also reaffirmed its commitment to the Dutch housing market, as Lindeijer said the manager was now very much on the buy-side, after reducing exposure in recent years.“It is a good example of what a long-term investor should be doing,” he said.“When the market was overheating and overvalued, we were pulling back. It has dropped 20% in value, and rental incomes are good value, so we are on the buy-side.”Other Dutch pension funds have also delved into real estate and mortgages, with growing demand for the asset class, replacing government bond holdings.last_img read more

Carlingford on Cheltenham course

first_img The John Kiely-trained gelding snatched the spoils in the Hennessy Gold Cup on Sunday under a vintage ride from Tony McCoy, just over 24 hours after he announced he is to retire by the end of the season. Carlingford Lough could now get the chance to give McCoy a third triumph in the Cheltenham showpiece before he hangs up his saddle. Connections of Carlingford Lough have the Betfred Cheltenham Gold Cup firmly in their sights after the nine-year-old gained an unforgettable victory at Leopardstown. “That was very good. He won nicely and stayed on well. John Kiely had him in great shape and it was a great day,” said Frank Berry, racing manager to owner JP McManus. “I don’t see why he can’t go for the Gold Cup after that. It’s an open race. You’d like to think they all performed up to their best on Sunday. “He’s come out of the race good this morning. If he’s OK in the next couple of weeks, there’s no reason why he shouldn’t go there.” center_img Press Associationlast_img read more

Bradford’s progress again halted by injury

first_imgAllen Bradford has to be used to the challenges by now.After entering fall practice as the projected starting running back, the official depth chart released by USC coach Lane Kiffin last week shows Bradford again short of the starting role. Redshirt junior Marc Tyler will start against Hawai’i on Thursday. Bradford will surely get his carries, but he wants that starting job.But just when Bradford seemed so close, it all could be slipping away.A knee bruise he suffered earlier in the month has had a lot to do with holding him back, and he is still not quite 100 percent. Coaches have also said, however, Tyler has been the more consistent back.Bradford maintained that he’s remaining focused and is not giving up on claiming the starting role. But when he talked about being passed up for the starting job, his head hung slightly and he was unable to hide the disappointment in his voice.“I wasn’t as consistent in fall camp, so I’ve just got to bounce back,” Bradford said. “I’ve got to just be Allen Bradford and continue to fight.”You cannot blame Bradford for being frustrated. It has not been an easy road for the fifth-year senior from San Bernardino, Calif.He was recruited to USC as a safety in 2006 but soon moved to tailback. He saw the field quite a bit but not in the role he had imagined. His freshman year he spent some of the season at fullback to help out with depth issues.The next two years were a bit of a blur. Bradford got lost in the shuffle, just another name among the stable of running backs that split time at the position under former coach Pete Carroll. In 2008, he had season-ending hip surgery.Then the whispers began.There was talk that he would transfer, that he was dissatisfied. Three years at USC and he had little to show for it: a couple of touchdowns maybe, but still a tenuous draft status.Last season Bradford finally got his chance. It came in the middle of the season in the form of a 147-yard, two-touchdown performance against Oregon State, earning Bradford Pac-10 Player of the Week honors.Bradford seemed to have finally received what he had sought all these years: recognition. The uphill portion of the journey seemed to be behind him.He soon developed into the Trojans’ most reliable back. He ended up second on the team in total rushing yards with 668, just behind then-junior Joe McKnight.Bradford started only one game, but with McKnight moving on to the NFL, he was primed to step into the starting role in his last chance at USC to make a name for himself.And then he ran into the same obstacle that he had trouble overcoming previously in his career: injury.Tyler, a close friend and former roommate of Bradford’s, will instead have the first crack at solidifying himself at USC. There is not the least hint of bad blood between the teammates, Bradford says. The tailback still regularly gives Tyler — who is a year younger — advice.“I tell him the little things that he’s doing wrong,” Bradford said. “I tell him, ‘Just keep the ball up, and you got to go out there and pace yourself.’”Bradford’s patience might need pacing as well. After already having endured so much adversity, the running back likely has much more ahead.When he thinks of the competition he has faced, trying to assert himself in USC’s crowded backfield, he draws on words of wisdom from his father.“My dad always told me that you compete with yourself,” Bradford said on usctrojans.com, USC’s official athletic website. “You can’t control what everybody else does, you can only control what you do.”That’s why, when Bradford found out the news about Tyler, after calling his dad, he said he looked within himself.“I looked at myself in the mirror because I know I’ve been through a lot, and it’s just another challenge that I have to embrace,” he said.Looking back on Bradford’s history at USC, you want to believe that he’s going to break through at any moment, hit his stride and be the starting running back at USC and maybe move to the next level.Whether that day ever becomes reality is uncertain. But one thing is for sure: Allen Bradford will continue to fight his never-ending battle against the man in the mirror.“Middle Ground” runs Tuesdays. To comment on this article, visit dailytrojan.com or e-mail Josh at jjovanel@usc.edu.last_img read more

Three Bantam Flyers players competing at U15 Provincial Tournament

first_imgPENTICTON, B.C. — A trio of Fort St. John hockey players are in Penticton today, competing in the U15 Boys Provincial Tournament.Hunter Brown, Henry Kehl, and Wyatt Millner all played with the Fort St. John Northern Metalic Bantam Flyers this past season, with whom they won a Bronze medal at the BC Hockey Tier 2 Bantam Provincials in Powell River in March. The trio made the cut for the U15 tournament at tryouts in Prince George in mid-April.Bantam Flyers head coach Craig Brownlee says that the three graduating first-year players will be ones to watch at the tournament. “All three will have different strengths that they can show,” said Brownlee.- Advertisement – IMG_9599 Henry Kehl in action with the Northern Metalic Bantam Flyers this past season. Photo by Sarah and John Olson Henry Kehl in action with the Northern Metalic Bantam Flyers this past season. Photo by Sarah and John Olson Wyatt Millner in action with the Northern Metalic Bantam Flyers this past season. Photo by Sarah and John Olson Wyatt Millner in action with the Northern Metalic Bantam Flyers this past season. Photo by Sarah and John Olson “I think Hunter Brown, he fits in just perfectly in a league that has kids older than him. He really picked up his physical game later in the season and I think that helped him win pucks and battles on the boards, and this is something they’ll look for.”“Wyatt is a good offensive defenseman, he’s got a big snapshot from the point, quite accurate. Very smooth skating puck moving type defenseman.”“Henry Kehl, if I had a most-improved player on my team this year, I’d consider him for that. More of a stay at home-type defender, but he’s very strong at making that first move that starts the offence. A steady defender for sure.”Advertisement Brown, Kehl, and Millner arrived in Penticton earlier this week, and have been training and practicing with their respective teams in the tournament, Team Black, Grey, and White, since Thursday. The three will be playing their first games of the tournament on Friday afternoon at the South Okanagan Events Centre. The three teams will also be in action for a pair of games all day Saturday, with the final placement games on Sunday morning.Live results from the tournament can be found here: http://bchockeystats.hockeytech.com/stats/schedule.last_img read more