Who Will Invest in Clean Energy? Big Money Will

first_imgWho Will Invest in Clean Energy? Big Money Will FacebookTwitterLinkedInEmailPrint分享Bloomberg New Energy Finance:People who invest in the world’s energy systems often want to know how many trillions of dollars will be needed to finance renewable energy and natural gas. One way to find the answer is to look at what those who have already invested trillions of dollars want to happen as the world transitions to a lower-carbon power system and electrifies transportation.A look at the numbers shows that the first thing they want is scale. The 10 largest institutional asset managers each manage more than $1 trillion; the largest, BlackRock Inc., manages nearly $6 trillion. Trillions of dollars of investor supply naturally need trillions of dollars of asset and company demand.Fortunately for energy, it has such a demand. Bloomberg New Energy Finance estimates that zero-carbon power generation will attract almost $9 trillion in investment between now and 2040.Increasingly, the suppliers of that institutionally managed money want to know how their portfolios will affect climate change. Earlier this year, David Fickling took a smart look at the largest asset managers and found that most of the 20 biggest ones back shareholder resolutions on climate and sustainability. Such resolutions are becoming far more common, too: This year, investors have filed 189 climate and sustainability resolutions with U.S.-listed companies — as many as in the previous five years combined, according to Ceres’ climate and sustainability resolutions database.And then there’s yield. Investors are still piling into U.S. energy high-yield debt, which mostly funds oil and gas exploration and production. As Liam Denning noted in August, even this risky part of the energy bond market still yields in the range of only 6 to 7 percent.A decade ago, the yield from U.S. energy fixed income would have been comfortably investment-grade, according to the International Monetary Fund’s October Global Financial Stability Report. In 2007, all but a very small proportion of corporate debt yielded more than 4 percent, and not a dime of securitized or collateralized debt yielded below 4 percent. Ten years ago, “only” $3.4 trillion of investment-grade fixed income yielded below 4 percent.Things look rather different now. According to the IMF, there is now just under $40 trillion of investment-grade fixed income yielding below 4 percent, including more than $5 trillion with a negative yield.This yield distribution, then, is what anything needs to beat to be considered “high yield.” 2007’s investment-grade yield is today’s risky yield; today’s low-risk yield is barely any yield at all, and could even be a negative yield.There’s plenty of money out there to create renewable technologies, and its institutional investors want more than lower-carbon investment strategies. They also are seeking to beat very low investment-grade yields.In 2007, when renewable technologies were expensive compared with conventional energy, and when shale gas just a glimmer in the eye of the U.S. oil patch, there may have been a funding gap. Today, we’re dealing with something more addressable: a simple matter of allocation. Trillions of dollars are needed; trillions of dollars exist. It’s just a matter of aligning supply and demand.More: Who Will Fund Clean Energy?last_img read more

Florida University System Leaders Approve Reopening Plan

first_img“What we know from COVID-19 today is that things change and what we know about COVID-19 going forward is that things are likely to change,” Criser said.Under the blueprint that was approved Thursday, universities are required to develop plans “to quickly respond to significant increases in virus infections and hospitalization rates.”The schools will also have to set thresholds for campus infections that would trigger a return to tighter social distancing guidelines.In addition, university leaders will create plans to determine who to test for the virus, and how often to do so, in conjunction with area hospitals and health officials.Florida guidelines do not mandate the use of face masks at all university campuses, instead allowing each school to determine rules about the use of face coverings.The Board of Governors’ guidelines do not mention whether students, faculty and staff should have their temperatures checked before entering campus buildings or classroomsCriser emphasized the need for “shared responsibility” in the community, in order to successfully implement the universities’ plans. He added that each university should demonstrate that the  health and safety of the campus is a responsibility to be shared by students, employees, vendors, volunteers and visitors, in addition to surrounding community members and businesses. The Florida university system’s governing board on Thursday approved a basic blueprint for reopening campuses in the fall.Each of the 12 schools will spend the next two weeks finalizing their individual plans.State university system Chancellor Marshall Criser told the Board of Governors that each university will have the flexibility to determine details such as which individuals will need to be tested for COVID-19, in addition to rules for the use of face masks, and alternatives for students, faculty and staff who could be at high risk of getting sick.“The need for flexibility for all students, faculty and staff is ultimately going to be the foundation for the agility we need, and the resiliency we need, as we reopen our campuses,” Criser said during Thursday’s BOG virtual meeting.University officials have pledged to return to in-person or hybrid instruction for the fall semester since classes went virtual in March due to the coronavirus pandemic.The guidelines approved on Thursday mention that a resurgence of the virus in the fall could force classes to return online, or it could lead to other changes to the plans the universities will submit to the Board of Governors by June 12.The Board is currently considering approval of the State University System of Florida Blueprint for Reopening Campuses. Tune in to listen live via https://t.co/fh22c7KQqM or visit our website for more information. https://t.co/cyLInYWRmR— Board of Governors (@FLBOG) May 28, 2020last_img read more

Presidency Wades into NFF Crisis as Osinbajo Meets Dalung, Pinnick

first_imgDuro IkhazuagbeWith FIFA’s August 20 deadline to Nigeria to resolve the crisis in the administration of the country’s football just some days away, the Federal Government, it appears, has waded into the matter to prevent the ban from world football ruling body from happening.Yesterday in Abuja, the Acting President, Yemi Osinbajo, met with Sports Minister, Solomon Dalung, who has been at the centre of the protracted crisis, behind closed doors at the Presidential Villa. Presidency sources told THISDAY that the meeting which took place inside Osinbajo’s office shortly after the weekly Federal Executive Council (FEC) meeting, was meant to strategise on how to resolve the NFF crisis between Chris Giwa and the Amaju Melvin Pinnick-led NFF board whose tenure will end next month.Although details of their discussions were not revealed to reporters covering the Villa, THISDAY learnt the kernel of the discourse was how to end this almost four-year old crisis without incurring FIFA’s wrath.It was also learnt that the Acting President had earlier before the FEC meeting held private discussions with NFF President, Pinnick, and some members of his board.Those who were with Pinnick at the meeting with Osinbajo include; the two vice presidents of the NFF, Seyi Akinwunmi and Shehu Dikko; and the only female member of the board, Aisha Falode.Interestingly, after the NFF’s meeting at the Villa, THISDAY also learnt that another meeting was called by the Reconciliation Committee headed by former Chairman of NFA, Col. Abdulmumini Aminu (rtd) to find a way out of the log-jam.Other members of the NFF Board that include Chairman of Chairmen, Ibrahim Gusau; Technical Committee Chairman, Ahmed Fresh and Mohammed Alkali joined the four who were at the Villa in the meeting with the Aminu Committee.It was understood that a meeting of Pinnick and Giwa is being proposed for today even as there are speculations that the vacation judge in the Pinnick and Giwa case may have moved hearing to tomorrow, August 17 in Jos.Tuesday’s final warning to Nigeria was the fourth time since 2006 that FIFA would be directly involved in post- World Cup tournament crisis.In the media release from Zurich, FIFA seems to have ran out of patience over the festering crisis between Giwa and Pinnick and announced the decisions of its Bureau of FIFA Council in relation to undue influence in the affairs of the Nigeria Football Federation.The statement read: “In line with art. 16 par. 1 of the FIFA Statutes, the Bureau of the FIFA Council decided that if by Monday, August 20, 2018, at 12:00 (CET), the Nigeria Football Federation (NFF) offices are not handed back to the legitimate NFF executive committee under President Amaju Melvin Pinnick, who was duly elected on 30 September 2014, the NFF will be suspended with immediate effect for contravening art. 14 par. 1 i) and art. 19, as well as art. 14 par. 1 a) of the FIFA Statutes.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Nigeria Rugby National Team Beats Niger

first_imgBlack Stallion’s Captain Azeez Ladipo also made 6 Conversions, while substitute Scrum Half Monday Omorogieva concluded proceedings with 2 precise conversions which brought the total points in the second half to 42 points to 7 points.The Nigerien Rugby National Team scored a consolation try of their own in the 71st minute to keep the score line at a respectable 59points to 13points in favourof The Black Stallions.This international rugby test match was organised by Rugby Afrique to welcome Nigeria back to its fold after the lifting of the International Suspension.Nigeria Rugby National team the Black Stallions newly appointed South Africa Coach Mr. Bronson Weir was full of praise for his lads whom he described as work in progress.The President of the Nigeria Rugby Football Federation (NRFF), Mr. Kelechukwu Mbagwu who led the Nigerian delegation showered so much praise and reward on the team and the Most Valuable Player of the match; Samuel Ekpo (Flanker) for his sterling and dogged display throughout the match.The next international rugby match will be in September in the Africa Rugby Regional Sevens championship in Ivory Coast which is also a Pre – Olympic qualifiers and an All Africa Games/Africa Rugby Bonze Cup qualifiers for 2019.Meanwhile, the Nigerian High Commissioner’s representative Mr. Yakubu Adamu (Senior Consulor) who came alongside other Nigeria community members in Niamey to support the team were full of accolades for the fantastic display by the Black Stallions.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The Nigeria Rugby National Team, the Black Station trashed their Nigerien counterpart by 59 points to 13 points in an explosive international rugby test match last weekend at the Stade General Seyni Kountchede – Niamey.Nigerian Captain, Azeez Ladipo opened proceeding with a penalty goal just five minutes into the game.Joshua Etim scored the first Try of the match which was ably converted by Ladipo Azeez, while Christian Ogar scored the second Try and also converted by sure footer Azeez Ladipo.last_img read more