APG calls on governments to support green bond market

first_imgIn addition to APG, new signatories include BlackRock and Legal & General Investment Management, Europe’s two largest institutional managers, according to IPE’s Top 400 Asset Managers 2015.Several of the signatories – including AP4, APG and the California State Teachers’ Retirement System – recently participated in a $1bn green bond issuance by the Kreditanstalt für Wiederaufbau, Germany’s state-owned development bank.As of the end of 2014, APG’s green bond portfolio accounted for 0.5% of its corporate bond holdings, or €356m, comprising bonds issued by the European Investment Bank and GDF Suez, among others.Sean Kidney, chief executive of the Climate Bonds Initiative, said there was “enormous opportunity” to deploy green bond financing and cited financing needs arising from individual countries’ pledges to reduce carbon emissions.The organisation also launched a guide in conjunction with the UN Environment Programme (UNEP), detailing how the public sector could grow the green bond market.The guide, ‘Scaling up green bond markets for sustainable development’, urged governments to develop green project pipelines to allow investors to better plan for issuances, and for participation in the Green Infrastructure Investment Coalition – an association launched this year that aims to bring together investors, governments and development banks to discuss projects.Nick Robins, co-director of the UNEP Inquiry, added that the opportunities presented by green bonds had caught the attention of policymakers.“At COP21, many discussions have centred around climate finance and the level of investment needed to bring about low carbon outcomes,” he added.“Green bond market development is seen as a real option. This report can only assist governments, policymakers and ultimately institutional investors in developing sustainable climate finance outcomes.”According to the Climate Bonds Initiative, green bond issuances so far this year have exceeded $41bn.,WebsitesWe are not responsible for the content of external sitesLink to ‘Scaling up green bond markets for sustainable development’ guideLink to Paris Green Bond Statement APG has called on governments to encourage the growth of the green bond market, arguing that a clear regulatory framework would allow it to meet its obligations to beneficiaries.The €402bn Dutch pension manager joined 26 other investors worth a total of $11.2trn (€12.1trn) in signing the Paris Green Bonds Statement, which calls for a “large and robust market that makes a real contribution to climate change”.Coordinated by the Climate Bonds Initiative, the statement is identical to one backed by Sweden’s AP funds published last year.Released as the UN climate change conference in Paris (COP21) nears its end, the statement has attracted the support of 10 new institutions, resulting in a $9trn growth in signatory assets.last_img read more

Van Gaal: Defence is strong enough

first_imgLouis van Gaal has baulked at suggestions Manchester United must bolster their defence in the January transfer window. Press Association Manager Van Gaal claimed United have “more than enough” defensive cover and quality, despite Chris Smalling’s groin problem further stretching resources. Robin van Persie’s brace sneaked United past Southampton 2-1 at St Mary’s on Monday, but the Old Trafford side struggled tactically and defensively. United are still missing Luke Shaw, Rafael, Phil Jones and Daley Blind, and that injured defensive quartet formed the foundation of Van Gaal’s justification of his squad depth. United host Liverpool at Old Trafford on Sunday, with former defender Gary Neville predicting the clash could descend into pub-league standard. England coach Neville claimed United “got away with murder” at St Mary’s, before tipping the Liverpool clash to resemble “The Dog and Duck versus The Red Lion”. The unimpressed Van Gaal warned Neville to “pay attention to his words”, asking reporters to interpret his comments however they saw fit. Neville later denied talk of a rift with Van Gaal when asked about a “feud” on social media. One Twitter user asked Neville following the match: “@r1fgm: @GNev2 the press mentioning a feud between yourself and Van Gaal. What feud?” And Neville replied: “One that will be created that doesn’t exist.” Van Gaal admitted he hopes Van Persie is now approaching top form after a post-World Cup lull, but waved away his side’s growing momentum as little more than whimsy. “I hope that he is improving, I have to say I was very pleased with his performance and also his goals,” said Van Gaal of Van Persie. “The second goal was not so easy, because the ball from Wayne Rooney was coming for his right foot and he took it with his left; so it’s a nice touch. “Momentum, things of this sort, these are rhetorical questions. “It’s fantastic to be third in the table, but I had hoped we would manage that with better performance.” Van Gaal shrugged off criticism of his defensive stocks after switching England midfielder Michael Carrick into a makeshift defensive role midway through Monday’s clash. “When you have injuries you cannot solve the problem otherwise,” said Van Gaal. “Do we have to buy players? No. We have more than enough.” Van Gaal’s terse defence of his squad depth did little to mask United’s continued rearguard shortcomings. Van Persie converted United’s only two chances on the south coast as Van Gaal’s men moved third in the Premier League with a fifth-straight win. Southampton pressed continually, pulling Van Gaal’s systems and structures apart almost at will, though too often failing to deliver the killer blow. Marouane Fellaini’s inept performance forced Van Gaal to haul youngster Paddy McNair off before half-time, in the hope Ander Herrera could add midfield bite. That led to Carrick’s rearguard shift, with fit-again Jonny Evans replacing Smalling after his groin injury. last_img read more

Men’s tennis returns to the court with two home wins

first_imgThe Trojans continue at home tomorrow at 10:30 a.m. with a double header against UC Davis and the University of San Francisco. In the opening match, USC will look to overwhelm a young UC Davis team that has only one upperclassman. It will, however, be a tricky matchup, as the young Aggies have a 6-0 record heading into tomorrow’s matches. USF comes in with an undefeated record as well, although they have only played one match. USC will look to best its result against the Dons last year, when USC won 5-2. The USC men’s tennis team continued its recent success in the ITA Weekend Kickoff Tournament last weekend. After returning from a trip to Australia, the No. 5 Trojans defeated Cal Poly Saturday and defeated UC Santa Barbara in the final on Sunday. USC went up against Cal Poly in the first round and swept them 4-0. All three Trojan pairings started off slow in doubles, with sophomore Daniel Cuckierman and freshman Bradley Frye losing their match 4-6. Juniors Brandon Holt and Riley Smith were able to overcome their slow start, however, and came up with a 6-4 victory. The deciding doubles match came down to the wire, but seniors Laurens Verboven and Jack Jaede were able to clinch the set with a 7-5 win. Holt and Cuckierman both played out their matches and in the end, Holt won his match 7-6, 4-6, 6-4. Cuckierman was the last to finish with a hard fought 6-3, 5-7, 6-4 win. At the end of the day, USC won both of its matches over the weekend and qualified for its 11th consecutive ITA National Indoor Championship, which will be held in Chicago on Feb 15. Smith secured a quick victory once again in singles with a 6-2, 6-2 win. Similarly, freshman Mor Bulis won 6-3, 6-2 in his match. Santa Barbara was able to get 1 point back, as Verboven lost 6-2, 6-3. After Holt and Cuckierman split sets in their matches, all of the attention turned to freshman Jake Sands to clinch USC’s win. Sands stood strong under the pressure and pulled out a gritty 6-4, 6-4 win to give USC the tournament.   The singles matches were much more straightforward, as the Trojans got three straight set wins from Holt (6-4, 6-0), Smith (6-3, 6-2) and Cuckierman (6-1, 7-5). This completed the sweep and secured USC’s place in the championship match on Sunday against the Gauchos.center_img The doubles on Sunday against Santa Barbara proved to be much easier for the Trojans. Holt and Smith dominated with a 6-1 victory, which Cuckierman and Frye followed up with a straightforward 6-2 win. With the doubles point easily secured, the match turned to singles. “As a team, we were all just ready to go, and we are excited for this year,” Smith said. “I think we are going to compete our butts off. I think we really have a chance to just do something special this year. Tournament is nothing different to us, and we are just going to go out there and compete.” The good news continues to come in for the Trojans. It was announced Tuesday that Holt won Pac-12 Player of the Week honors following his undefeated record this past weekend. Women’s tennis junior Angela Kulikov also won the same honor this week, marking the first time since 2015 that USC tennis has had a men’s and women’s player take Player of the Week honors in the same week. Junior Brandon Holt won Pac-12 Player of the Week honors after snagging two doubles and two singles victories in the ITA Kickoff Weekend. It is the second time in his career Holt has earned the honor. (Emily Smith/Daily Trojan)last_img read more