Institutional investors call on carmakers to come clean on lobbying

first_imgSweden’s AP funds and the UK’s Environment Agency Pension Fund (EAPF) have called on some of the world’s largest car manufacturers to disclose any lobbying undertaken over forthcoming emissions legislation.Coming in the wake of Volkswagen’s admission it used software to beat emissions tests, institutional investors worth £625bn (€842bn) wrote to nine automobile companies – including Volkswagen, BMW and Daimler – asking for the disclosures.Catherine Howarth, whose responsible investment charity ShareAction coordinated the letter, said she was pleased her organisation was helping investors acquire “risk-relevant” information on manufacturers’ relationships with regulators and politicians.“The share price carnage brought on by the defeat-devices scandal has focused the minds of shareholders of automobile firms,” she said. VW’s share price has fallen by 32.6% since the US Environmental Protection Agency raised questions about how its diesel engines behaved during emissions testing.The letter – signed by AP2, AP3, AP4 and AP7, as well as the EAPF, Finland’s Ilmarinen and AXA Investment Managers – calls on the nine companies to disclose their position on EU legislation on CO2 and the US Corporate Average Fuel Economy (CAFÉ) regulations.Volkswagen, BMW, Honda, Daimler, General Motors, Ford, Fiat, Peugeot and Toyota have also been asked to disclose their contributions to industry associations, and detail work undertaken with the European Automobile Manufacturers’ Association (EAMA), which ShareAction alleges was “obstructing” the EU legislation.The letter follows similar efforts by ShareAction for fossil fuel companies to be more transparent on lobbying done on their behalf by oil and gas industry groups.A separate letter has been sent to Nissan and Renault, whose chief executive Carlos Ghosn is currently chair of EAMA, asking for him to engage with investors.In the wake of the Volkswagen scandal, third-party litigation funder Bentham Europe said it was in discussions with institutional investors to bring a lawsuit against the German car firm.last_img read more

ABB scores Rio Grande gig from US LNG developer NextDecade

first_imgThe proposed Rio Grande LNG export facility (Image courtesy of NextDecade)US LNG developer NextDecade has chosen ABB to provide an integrated automation and electrical solution for its Rio Grande LNG export project in South Texas.The automation of plant control systems will optimize plant performance and efficiency, representing “a logical extension of NextDecade’s low cost, lower risk development strategy in combination with Rio Grande LNG’s optimal South Texas location,” the duo said in a joint statement.“This agreement enables NextDecade to drive higher capital efficiencies through a unique, integrated approach among ABB, CB&I – NextDecade’s EPC contractor – and the NextDecade team via automation and electrical systems,” said Matt Schatzman, NextDecade President & CEO.“NextDecade expects ABB’s solutions to reduce the schedule, equipment footprint, and cost of our Rio Grande LNG facility, while providing greater operational flexibility.”Rio Grande LNG is a proposed 27 mtpa LNG export facility to be located on a 984-acre site on the Brownsville Ship Channel in South Texas and will be constructed in phases.The approximately 137-mile proposed Rio Bravo Pipeline will supply the facility with its feedgas, connecting it to the Agua Dulce natural gas supply area.Rio Grande LNG is currently in the advanced stages of the U.S. Federal Energy Regulatory Commission (FERC) review and permitting process, according to NextDecade.last_img read more

Syracuse reserves look to continue growth in nonconference play against Long Beach State

first_img Facebook Twitter Google+ As Syracuse started its first-half run to pull away from Colgate on Monday, it did so with reserve guard Ron Patterson providing a spark on the court.Seated on the bench alongside Jim Boeheim were freshmen starters Kaleb Joseph and Chris McCullough, who watched as SU’s depth flourished in the blowout win.It was a snippet of the opportunities nonconference play can present the Orange’s bench players, and the results the backups can deliver. Continuing with Syracuse’s (7-4) 2 p.m. matchup with Long Beach State (5-8) on Sunday, SU figures to be in position to give its depth — namely Patterson, forward B.J. Johnson and center Chinonso Obokoh — more experience as the team readies itself for Atlantic Coast Conference play.The team as a whole is still rounding into form, and its reserves are no different.“I think we’ve still got a long way to go to get better,” Boeheim said after defeating Colgate. “That’s just what it is. We’ve got guys trying to figure out what they’re doing out there and we haven’t had that in six years.”AdvertisementThis is placeholder textAlthough the Orange’s existing rotation isn’t thinner in numbers than it’s been in recent years, it’s thinner in experience.Forward Tyler Roberson, who started SU’s first four games, was the only one of the Orange’s three subs against No. 7 Villanova last Saturday to log more than seven minutes on the floor. Boeheim didn’t turn to Johnson or Obokoh until foul trouble forced him to. He didn’t turn to Patterson at all, even as three of the Orange’s starters fouled out in overtime.But as Syracuse reverted to lower-level nonconference play and cruised to a 30-point cushion by halftime over the Raiders on Monday, the head coach had the luxury of giving them all first-half minutes without much risk.Guard Trevor Cooney and forwards Michael Gbinije and Rakeem Christmas did the heavy lifting, but the bench still contributed.While McCullough and Joseph combined for four points by game’s end, Patterson shot 5-of-9, including a trio of 3s, for 13 points to go with four assists and a pair of steals. Johnson scored eight points on 3-of-6 shooting while grabbing six rebounds and Obokoh pulled down three boards and dished out an assist.“It gives guys confidence to be able to come in the game, hit shots,” Joseph said. “As long as they keep doing that when they get the opportunities, it’s only going to help them.”Still, Boeheim can be as bluntly critical of his reserves as he is of his starters.When asked about Johnson’s first career start on Nov. 25 against Loyola (Maryland), Boeheim laughed and said “I don’t know” three times. When asked on Monday if Roberson is starting to figure things out, Boeheim said he thinks Roberson knows he’s in Syracuse.And when asked about Patterson’s breakout showing against the Raiders, the head coach brushed aside any optimism by pointing to the past, during which the guard has developed an inconsistent track record.Now ACC competition is a week away, and the next two games are Syracuse’s last chances to get its depth prepared for it.“Everybody’s important,” Gbinije said. “It may not reflect that in the minutes or the stat sheet, but every game’s going to be different and we may need people to step up.” Comments Published on December 27, 2014 at 3:13 pm Contact Phil: | @PhilDAbblast_img read more

Rest day for Republic of Ireland squad

first_imgThe Ireland squad have been given a day off today ahead of Saturday’s Euro 2016 qualifier against Scotland.Martin O’Neill took the decision last night to cancel this morning’s scheduled training session in order to allow his players some extra down time this week.At the mid-way point of the Group D qualifying campaign, O’Neill admits that it’s still hard to predict which teams will progress and which ones will lose out.last_img

Begovic: Players in Defense did a very good Job

first_imgB&H won against Wales with the score 2: 0 two nights ago in Zenica, and due to the injuries of Dzeko, our captain was Asmir Begovic. Our goalkeeper was very pleased with the victory.“Communication in defense was very important. We talked and discussed a lot. It took a lot of discipline and I think we did a great job,” said Begovic after the match.Despite the fact that national team of B&H did not made many opportunities against extremely dangerous Wales in last night’s match, our goalkeeper emphasized that we deserved the victory.“It was very important to have an active result in the match, we had luck and we deserved to win,” concluded Begovic.(Source: