EAPF calls for responsible investment guidelines for LGPS

first_imgThe suggestion was in recognition, the fund said, of the potential emergence of a global stewardship code in the near future but also an acknowledgement of how Japan’s code had evolved best practice established in the UK’s own document.Guidance on RI matters would be drafted by a working group of LGPS practitioners, subject to consultation on the final wording, to ensure it represented best practice, the fund said.Politically motivated divestmentThe EAPF also asked the government to clarify recent pronouncements that local authority funds should not pursue politically motivated divestments, arguing that any investment strategy – which stretches across several election cycles due to its long-term nature – should simply be risk-based.It suggested the government issue clear guidance on how it expects funds to act, working closely with the LGPS Scheme Advisory Board to detail which legal conventions the UK had signed and should be respected.“However,” the fund added, “we express considerable caution that the guidance should not be politically motivated and should be signed off by the LGPS Scheme Advisory Board, advised by the investment sub-group whose role is to consider ESG risk areas.”It also proposed that any guidance for investment policies should allow for decisions in line with fiduciary duties, as outlined by the recent Law Commission report on the matter.The Department for Work & Pensions recently declined to formalise new rules for private sector pension funds based on the commission’s recommendations.The EAPF’s views were echoed by the UK sustainable investment association in its own response to the LGPS consultation.UKSIF’s head of public policy Fergus Moffatt said the proposals to stop councils divesting was “extremely worrying and incoherent” and argued that the very taxpayers the rules purported to protect were at greater risk if certain assets became stranded assets.“This should not be about politically motivated investments, rather ensuring investment decisions are made in the best interests of savers,” he said.The association’s response backed the EAPF’s call for guidance on how UK foreign policy should be reflected in investment decisions, and argued that any step taken by the government to intervene in investment decisions should only examine whether there was a breach of fiduciary duties.“If it is the government’s intention only to use the power of intervention in relation to decisions based on non-financial factors that run contrary to UK foreign policy, it should make this clear,” Moffatt said, “as decisions based on other non-financial factors – such as the tobacco example – will still be considered legitimate.”,WebsitesWe are not responsible for the content of external sitesLink to EAPF response on new investment regulation Local authority funds should collaborate on responsible investment guidelines to ensure new investment regulations meet global best standards, the Environment Agency Pension Fund (EAPF) has urged.Amid concerns by responsible investment (RI) groups that the UK government’s attempt to outlaw perceived politically driven divestment were “incoherent” and conflating financially material and non-financially material factors, the EAPF proposed that a working group on RI be established to draft guidance for local authority pension schemes (LGPS).Responding to the Department for Communities and Local Government (DCLG) consultation on LGPS asset pooling and changes to investment regulations, it suggested the draft regulation be amended to remove any doubt that environmental, social and governance (ESG) considerations should all be taken into account, rather than just one of the three at any one time.The EAPF also proposed that the regulation refer more broadly to the need for a focus on RI, and urged the inclusion of a new clause requiring the LGPS to comply with the evolving national and global standards on stewardship.last_img read more

Cardinals Defeat Trojans-B In Middle School Basketball

first_imgThe St. Louis 7th grade basketball team hosted the Sunman-Dearborn Trojans last night and came away victorious by the score of 24-14.The St Louis defense kept the Trojans in check all night as the Cardinals struggled offensively to put the ball in the basket. The Cardinals were led defensively by Jack Forbeck and Sam Voegele and on offense the team was sparked by Kurt Siefert who had 6 points as he knocked down back to back three pointers to start the second half. Also making it to the scoring column were Jack Forbeck with 2, Wil Freeland 2, Andrew Oesterling 10 and Lleyton Ratcliff 4. The Trojans were led by John Hotel and John Fike with 4 points each along with Eric Puterbaugh and Brady Spangler adding 3 points each.St Louis next game is Monday at St Louis against Benjamin Rush. Game time is 6:00.Courtesy of Cardinals Coach Jim Oesterling.St Louis 8th grade boys basketball team defeated Sunman-Dearborn “B” Thursday night 26 to 18.Charlie Dice & Jacob Deutsch shared game high honors with 8 points each.  Adam Cox added 5 points. Eli Tuveson had 2 points. Evan Vogelsang continued solid play on both ends of the floor and finished with 3 points. Joey Gutzwiller and Abe Peetz had solid minutes in relief.Next up is Benjamin Rush at St. Louis Monday 11/23.Courtesy of Cardinals Coach Mike Burkhart.last_img read more

Holloway charged by FA

first_img The FA announced on Tuesday afternoon on its official website that Holloway had been charged over two separate matters. A statement on www.thefa.com said: “Firstly, it is alleged that Holloway’s language and/or behaviour in or around the match officials’ changing room at the end of the game amounted to improper conduct. ”It’s going to be a long hard season for me with these people (referees). I had this with Blackpool. ”Certain clubs get fouls and others don’t. Tottenham will feel that if they play Man United. ”Do I think I would have got that at Tottenham? No I don’t. I just want a bit of fairness. ”I want a foul like anyone else would have got one. I’ve got a horrible taste in my mouth after that.” Holloway then lashed out at the assistant again in his post-match press conference, which began an hour and a half after the end of the match. ”It’s not the referee’s fault, it’s the bloke who stood right where I was, the linesman,” Holloway said. ”We have got professional refs, we haven’t got professional linesmen. ”I can’t believe he didn’t see it. I had better learn what a foul is in this division.” Crystal Palace manager Ian Holloway has been charged by the Football Association in relation to his conduct after the Barclays Premier League match against Tottenham on Sunday. “Secondly, it is alleged that Holloway’s post-match media comments questioned the integrity of the referee and/or match officials and/or implied that the referee and/or match officials were motivated by bias, and/or brought the game into disrepute.” Holloway has until 4pm on Friday to respond to both charges. The game at Selhurst Park, Palace’s first top-flight appearance in eight years, ended in a 1-0 defeat thanks to Roberto Soldado’s second-half penalty. And following the contest, Holloway appeared to claim his team will not be fairly treated by referees this season. He thought the spot-kick should not have been given because he felt Dean Moxey had no time to pull back his left arm to prevent Aaron Lennon’s cross from hitting it. But his real anger was reserved for the officials’ failure to spot what he viewed as a deliberate foul by Nacer Chadli on Stephen Dobbie shortly before referee Mark Clattenburg awarded the penalty. ”I’ve got to learn what a foul is because I thought Nacer Chadli deliberately bodychecked Stephen Dobbie, smashed him down and ran off with the ball,” Holloway told the BBC. ”If the referee didn’t see that, the assistant should have. You have to ask if he’s good enough if he didn’t see that. I don’t see how he can miss it. Press Associationlast_img read more