Mitsubishi Financial Group says it will no longer finance new coal plant construction

first_imgMitsubishi Financial Group says it will no longer finance new coal plant construction FacebookTwitterLinkedInEmailPrint分享Reuters:Japan’s Mitsubishi UFJ Financial Group will no longer provide financing for new coal-fired power generation projects after July 1, it said on Wednesday in a revised environmental and social policy framework.MUFG, one of the world’s largest banks by assets, said the decision will gradually reduce the balance of its exposure to coal power station projects.The company could make exceptions where governments need to build plants to meet local electricity demand, an MUFG spokesman said.It will take a cautious approach to the coal-fired power generation projects for which the bank has started considering financing before July 1, it said in a statement.In an original policy framework issued a year ago, MUFG said it would provide financing to coal-fired power projects in line with international guidelines.In the revised policy, the banking group added forestry, palm oil and coal mining to its “restricted transactions” list, saying it may ask clients to obtain globally recognized certification.More: Japanese bank MUFG rethinks policy on coal-fired power projectslast_img read more

Brussels lobby group urges EU over fee transparency

first_imgAuthorities should also launch a pan-European personal pension plan “that should, at the very least, not destroy the long-term purchasing power of the life-time savings of EU citizens”, he added.The European Commission is currently consulting on its proposal for a pan-European Personal Pension Product (PEPP), with boosting pension saving one of its main goals.In 2015 the Commission said it would ask the European Supervisory Authorities (ESAs) to look into into the transparency of long-term retail and pension products to determine net performance and fees, but Better Finance noted the authorities had yet to be tasked with this, as of August. The ESAs are currently the focus of some major reform suggestions by the Commission.One of Better Finance’s recommendations to policymakers was for them to extend the principle of the Key Information Document (KID) to “all long-term and pension savings products, including pension funds, shares and bonds”. The KID applies to EU packaged retail and insurance-based investment products and includes important information about products in a standardised document.PensionsEurope disapproval?Better Finance’s analysis, as in previous years, included occupational pension funds.Its report described their asset allocation and analysed their returns, identifying Dutch occupational pension funds as “the best performing national pension products over the last 17 years”.The organisation’s reports have previously frustrated PensionsEurope, the umbrella trade body for national pension associations, which has found aspects of them to be of low quality and/or incorrect.Commenting on Better Finance’s 2016 report, PensionsEurope accused the organisation of “comparing apples and pears” by presenting returns over different time periods as if they were fully comparable. It previously also criticised Better Finance’s citation of European Commission information when stating that investment and private pension products were poor performers in the EU’s retail services market. According to PensionsEurope, the Commission was mainly referring to private personal pension plans excluding occupational pensions, while Better Finance included these in its statement.Better Finance said its report aimed to improve transparency on the real returns of long-term and pension savings in Europe.Better Finance’s 2017 report can be found here. EU policymakers must tackle the limited transparency around pension products’ performance and fees if they want to increase pension saving in Europe, according to Brussels-based consumer finance lobby group Better Finance.In the fifth edition of its annual report on the “real return” of long-term savings, it said that fees and commissions were mainly to blame for low returns, although asset allocation also played a part.The organisation argued that many pension products were “massively” underperforming capital markets and that it was time for European public authorities to address the responsibility of providers rather than just urging citizens to take responsibility for their savings.Guillaume Prache, managing director of Better Finance, said: “If EU policymakers are at all serious about addressing the mushrooming pensions gap in Europe, urgent action is needed, starting with the speedy implementation of the ‘retail’ components of the 2015 Capital Markets Union Action Plan by finally enhancing the transparency of performance and fees of long-term and pension savings”.last_img read more

Kawhi Leonard’s first career triple-double propels Clippers past Heat

first_imgWaiters, who had been suspended three times for various issues since October and embarrassed himself and the organization when he ingested at least one cannabis-infused edible and needed medical attention when the team charter plane wrapped up a Phoenix-to-L.A. flight in November, played 18 minutes and scored 14 points.“We need everybody and inevitably during a long NBA season you need everybody to contribute,” Spoelstra said. “It’s not always necessarily going to be on your terms.”TIP-INSLeonard now has a career-best streak of seven 30-point games. World B. Free and Bob McAdoo have the Clippers’ record with 11 such consecutive games. Leonard also had six assists in the first half, tying his career-high for a half. He had that many in a 24-minute span on three other occasions. … Patrick Patterson scored 12 for the Clippers. … Adebayo has played in 131 consecutive games, one shy of Grant Long for the fifth-longest streak in Heat franchise history and three away from matching Issac Austin’s fourth-best such streak. … Miami has now played all 29 other teams at least once this season. The Heat have finished the season series with Houston, Memphis, San Antonio and the Lakers. … Robinson has made multiple 3-pointers in 15 consecutive games, breaking his own team record set earlier this season.LINEUP ROULETTEBoth teams had new starting lineups. The Clippers used their 21st different one of the season, seven more than they used in the entire 2018-19 regular season. Miami used its sixth different lineup, with Nunn – who had started all 44 games before Friday – out for the first time.McGRUDER RETURNSIt was the first time Clippers guard Rodney McGruder played against the Heat, the team with whom he spent his first three NBA seasons. “It’s nice. It’s weird,” McGruder said of facing Miami and many of his friends. He was waived by the Heat late last season in a luxury-tax-related move and picked up by the Clippers – who signed him to a three-year deal this past summer. “He’ll have a lifetime recommendation from us. He earned it,” Spoelstra said.UP NEXTThe Clippers conclude the out-of-state portion of their trip against Orlando on Sunday at 3 p.m., then return home to play a “road game” against the Lakers on Tuesday night. Rivers lauded Leonard for patiently waiting out Miami’s trapping schemes.“It’s like he was a boxer,” Rivers said. “He just kind of took his time until he could throw punches.”Landry Shamet scored 22 points for the Clippers, going 6 for 12 from 3-point range while doling out six assists. Lou Williams had 16 points and seven assists, Montrezl Harrell added 15 points and 11 rebounds and JaMychal Green had 14 points on 6-or-7 shooting and 10 rebounds.Jimmy Butler led Miami with 20 points. Butler left midway through the fourth after appearing to turn his right ankle for the second time in the game, capping a night when he also got inadvertently popped in the eye during the first half.Kelly Olynyk and Tyler Herro scored 19 points each, Bam Adebayo had 18 and Duncan Robinson added 16 for Miami. The Heat fell to 20-2 at home – 0-2 against teams from Los Angeles. Their only other home loss was to the Lakers.“We’ve built a place where it’s hard to win here and if you’re going to win here you’ve got to do some extravagant things,” Adebayo said. “And they’ve got a player over there that actually did that tonight.”Leonard flirted with a triple-double on two other occasions this season, missing it by two rebounds on Oct. 26 at Phoenix and by one assist on Nov. 11 against Toronto.“I thought he already had one,” Rivers said.The Clippers were without Paul George (left hamstring) for the eighth consecutive game and Patrick Beverley (right groin) for the second straight game, though Beverley tried lobbying his way into the lineup.Miami was without two point guards – Kendrick Nunn missed the game with left Achilles soreness and Goran Dragic was out with a sore left calf, something that flared up after he got kicked in Wednesday night’s overtime win against Washington.So, down to 10 available players, Miami had no choice: Waiters played for the first time this season.Related Articles “We had to grind it out. We need that adversity… You gotta be able to come together in those moments and find a way to win when things aren’t going well.”Landry Shamet talks with @jaimemaggio after tonight’s win in Miami!#ClipperNation • @LAClippers pic.twitter.com/jaBz7jMUqx— FOX Sports West (@FoxSportsWest) January 25, 2020 Leonard actually got the triple-double twice. He had it in the third quarter, briefly: What was originally his 10th rebound was taken away after the stat crew gave one play a closer review. He then got it for real on a rebound with 3:55 remaining.Clippers coach Doc Rivers was given the game ball in the locker room afterward, then dribbled it once before flipping it to Leonard as a keepsake. Leonard raised it over his head, then smiled as teammates applauded.“It’s because of y’all,” Leonard told teammates. “Y’all made shots. So that’s all a triple-double is.”And even with his big night, the Clippers – who dug their way out of a 15-point early hole and finished the third quarter on a 15-0 run to take control – had to hang on in the final moments.Miami was down by 18 with 8:34 left, then went on a 24-9 run and got within three on a 3-pointer by Dion Waiters with 34 seconds remaining. But they got no closer, and Leonard sealed it by going 4 for 4 from the foul line in the final moments. Clippers’ Paul George: ‘If I make shots, this series could be a little different’ Make it 6️⃣ threes on the night for @landryshamet! 🔥#ClipperNation • @LAClippers pic.twitter.com/L1QFZ0TzNk— FOX Sports West (@FoxSportsWest) January 25, 2020 Clippers hope they can play to their capabilities, quell Mavericks’ momentum “That was a really quality win.”Coach Doc Rivers reflects on handing the Heat their 2nd loss at home this season.#ClipperNation • @LAClippers pic.twitter.com/xIZX6lcMGN— FOX Sports West (@FoxSportsWest) January 25, 2020center_img 🖐️ Kawhi 1st career triple-double 🖐️Kawhi Leonard (33 PTS, 10 REB, 10 AST) scores 30+ PTS for the 7th consecutive game and the @LAClippers win in Miami! #ClipperNation pic.twitter.com/qrW1PABgpM— NBA (@NBA) January 25, 2020 Newsroom GuidelinesNews TipsContact UsReport an Error For Lakers’ LeBron James, Jacob Blake’s shooting is bigger issue than a big Game 4 victory What the Clippers are saying the day after Luka Doncic’s game-winner tied series, 2-2 Game 4 photos: Luka Doncic, Mavs shock Clippers in overtime PreviousMiami Heat guard Dion Waiters (11) drives to the basket as Los Angeles Clippers guard Lou Williams (23) and forward Montrezl Harrell (5) defend during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Clippers forward JaMychal Green dunks over Heat forward Kelly Olynyk, left, during the first half of Friday’s game in Miami. (AP Photo/Lynne Sladky)Miami Heat guard Tyler Herro (14) drives to the basket as Los Angeles Clippers center Ivica Zubac defends during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky) SoundThe gallery will resume insecondsLos Angeles Clippers guard Jerome Robinson (1) loses control of the ball as Miami Heat guard Tyler Herro (14) defends during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat guard Dion Waiters goes to the basket as Los Angeles Clippers forward Montrezl Harrell (5) defends during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat forward Jimmy Butler, front, drives to the basket as Los Angeles Clippers guard Jerome Robinson defends during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Los Angeles Clippers forward Kawhi Leonard (2) drives to the basket as Miami Heat forward Jimmy Butler defends during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat forward Bam Adebayo (13) dunks over Los Angeles Clippers guard Landry Shamet (20) and center Ivica Zubac (40) during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Los Angeles Clippers forward Montrezl Harrell (5) drives to the basket past Miami Heat guard Tyler Herro (14) and forward Derrick Jones Jr. (5) during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat guard Dion Waiters (11) shoots as Los Angeles Clippers guard Landry Shamet (20) defends during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Los Angeles Clippers forward Kawhi Leonard, left, goes to the basket as Miami Heat forward Bam Adebayo defends during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat forward Jimmy Butler (22) goes to the basket as Los Angeles Clippers forward Kawhi Leonard (2) and guard Landry Shamet (20) defend during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat guard Tyler Herro (14) loses control of the ball against Los Angeles Clippers center Ivica Zubac during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat guard Tyler Herro, left, shoots over Los Angeles Clippers guard Landry Shamet (20) during the first half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat forward Bam Adebayo (13) is fouled by Los Angeles Clippers forward Montrezl Harrell (5) during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Los Angeles Clippers head coach Doc Rivers reacts during the second half of an NBA basketball game against the Miami Heat, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat guard Tyler Herro (14) reacts during the first half of an NBA basketball game against the Los Angeles Clippers, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat forward Jimmy Butler falls to the court during the second half of an NBA basketball game against the Los Angeles Clippers, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat head coach Erik Spoelstra, center, reacts after being called for a technical foul during the second half of an NBA basketball game against the Los Angeles Clippers, Friday, Jan. 24, 2020, in Miami (AP Photo/Lynne Sladky)Miami Heat guard Dion Waiters (11) drives to the basket as Los Angeles Clippers guard Landry Shamet (20) defends during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. (AP Photo/Lynne Sladky)Miami Heat guard Tyler Herro (14) attempts a 3-pointer as Los Angeles Clippers guard Lou Williams (23) defends during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Los Angeles Clippers forward Kawhi Leonard (2) scores in the closing seconds during the second half of an NBA basketball game against the Miami Heat, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Miami Heat forward Bam Adebayo (13) dunks over Los Angeles Clippers guard Landry Shamet during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Miami Heat forward Jimmy Butler (22) passes as Los Angeles Clippers forward Maurice Harkless (8) falls to the court during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Los Angeles Clippers forward Kawhi Leonard (2) is fouled by Miami Heat forward James Johnson during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Miami Heat forward Kelly Olynyk (9) drives to he basket as Los Angeles Clippers forward Maurice Harkless (8) defends during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Miami Heat guard Dion Waiters (11) drives to the basket as Los Angeles Clippers guard Lou Williams (23) and forward Montrezl Harrell (5) defend during the second half of an NBA basketball game, Friday, Jan. 24, 2020, in Miami. The Clippers won 122-117. (AP Photo/Lynne Sladky)Clippers forward JaMychal Green dunks over Heat forward Kelly Olynyk, left, during the first half of Friday’s game in Miami. (AP Photo/Lynne Sladky)NextShow Caption1 of 26Clippers forward JaMychal Green dunks over Heat forward Kelly Olynyk, left, during the first half of Friday’s game in Miami. (AP Photo/Lynne Sladky)ExpandMIAMI — Kawhi Leonard has two NBA championships, two NBA Finals MVP awards, four All-Star selections and a string of other accolades.And now, one triple-double.Unbelievable as it sounds – and really, the Miami Heat could not believe it – Leonard got a triple-double for the first time Friday night. He scored 26 of his 33 points after halftime, finished with 10 rebounds and 10 assists, and carried the Clippers past the Heat 122-117.“What do you mean, first triple-double? Of his career? Wow,” Heat coach Erik Spoelstra said. “That is a surprise. He’s as complete a player (as there is) in this league.”last_img read more