Charity Commission seeks industry views on RI

first_imgThe UK’s Charity Commission is seeking views on responsible investing by charities, to find out how they can align their investments with their charitable aims.A blog on the regulator’s website by Sian Hawkrigg, strategic policy advisor at the Commission, announced the initiative, saying the regulator aims to discover the barriers to more widespread responsible investments, as well as how to support trustees investing in a way that reflects a charity’s purpose and values, while achieving good returns.Hawkrigg said: “We want to ensure charities are aware of what they can do to understand their options when it comes to investing responsibly, and if necessary, equip them with tools to help make thoughtfully considered decisions.”She added that the initiative had come about because of the public’s increasing demand for transparency from the charity sector, and because trustees needed to consider the long-term financial sustainability of their investments. Trustees generally have a legal duty to seek good risk-adjusted financial returns from the way in which they invest their charity’s assets, but they can, under certain circumstances, take ethical and other non-financial considerations into account when deciding how to invest.These circumstances include where there is a conflict with the charity’s purposes, or there is no risk of significant financial detriment.According to Luke Fletcher, a partner at law firm Bates Wells, investment matters are often delegated to a charity’s investment committee, without a review of the investment policy itself or the terms of reference of the investment committee, sometimes for many years.Fletcher said: “This means there can be a disconnect between the grant-making activities of foundations – where impacts are evaluated – and the investment activity itself – where the impacts often receive relatively little scrutiny.”“There can be a disconnect between the grant-making activities of foundations – where impacts are evaluated – and the investment activity itself – where the impacts often receive relatively little scrutiny.”Luke Fletcher, partner at law firm Bates WellsAnd he continued: “There is also often a perception that the duty of trustees is simply to ‘maximise’ financial returns from investments, when the law concerning charity investment is actually quite different, especially where investments conflict with the charitable objects of a charity or otherwise place its work or reputation at risk.”Last March, a coalition of UK charities sent an open letter to the Charity Commission and the Attorney General, seeking a landmark ruling on whether charities should ensure their investments support their goals and their duty to provide public benefit.They also asked for specific legal guidance on whether charities should adopt investment strategies aligned with the Paris Agreement’s aim of limiting global warming to 1.5°C above pre-industrial levels.The coalition – which includes the Royal Society for the Protection of Birds and the Joseph Rowntree Charitable Trust – has a membership of around 50 foundations responsible for £3bn (€3.6bn) worth of assets.Fletcher welcomed the Charity Commission invitation, but said: “Ideally, we would have a court judgment which affirms the view that the development of a charity’s investment policies should be informed by its purposes and values, and which clarifies how this approach relates to traditional financial investment.”Such a judgement, he said, would help resolve the question of what happens where there are trade-offs or compromises between fidelity to purpose, and financial returns.Fletcher also urged the specific mention and treatment of climate change to be included in future guidance.When asked whether this would develop into a formal consultation, a Charity Commission spokeswoman said: “We are engaging with, and seeking views from, interested parties in order to inform our next steps in this new programme of work. At this stage we do not know what the outcome of this will be, so we cannot say yet whether there will be a need for a formal consultation.”The Commission will be seeking views until 31 March 2020. Contributions should be e-mailed to [email protected]last_img read more

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Cosco delivers research ship to Guangzhou Marine Geological Survey

first_imgChina’s Cosco shipyard has delivered a research vessel to Guangzhou Marine Geological Survey.According to Cosco, the vessel named Hai Yang Di Zhi Shi Hao was delivered on November 18, 2017.The vessel measures 7.6 meters high, 15.4 meters wide and 75.8 meters long.The client, Guangzhou Marine Geological Survey (GMGS), is an entity controlled by China Geological Survey, Ministry of Land and Resources.last_img

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Jessie E. Hamm, 80

first_imgJessie E. Hamm, 80, of Greensburg passed away at 12:20pm Saturday, November 12, 2016 at her home. She was born in Indianapolis on September 8, 1936 the daughter of Frank and Edith Odom. Survivors include two sons Robert (Angie) Hamm, and Mark (Anna) Hamm both of Pittsboro; two daughters Patricia (Joe) Hampton, and Katherine (Terry) Fenley both of Greensburg; 10 grandchildren and 19 great-grandchildren; two brothers Homer Odom and Harry Odom both of Indianapolis; one sister Ann (Bill) Taylor of Plainfield. She was preceded in death by her parents, her son Rocky Hamm, her grandson Jimmy Ray Keeton, her sisters Rosie Cheeks and Helen Anderson, and her brothers Bob Carnes and Frank Marcum. Mrs. Hamm was a homemaker and had worked as a cook at Frank & Marys in Pittsboro. In her spare time Jessie enjoyed tending to her flowers, sewing, crafts, and was an avid reader. Funeral services will be held on Tuesday, November 15th at 1pm at the Stratton-Karsteter Funeral Home in Versailles. Burial will be in the Marble Corner Cemetery at Versailles. Visitation will be on Tuesday from 11am until time of services. Memorials may be given to the Marble Corner Cemetery in care of the funeral home.last_img read more

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Syracuse Crunch to host Carrier Dome’s 1st-ever ice hockey game Nov. 22

first_img Facebook Twitter Google+ Published on June 11, 2014 at 1:11 pm Contact Sam: [email protected] | @SamBlum3 The Syracuse Crunch will host the first-ever professional hockey game in the Carrier Dome on Nov. 22, the team announced in a release that was first posted on the American Hockey League’s official website Wednesday. The Frozen Dome Classic is set to pit the Crunch against the Utica Comets, 34 years after the Dome first opened its doors. “On Nov. 22 (we will make) history by playing the first-ever professional hockey game in the iconic Carrier Dome,” Crunch owner Howard Dolgon said in the release, “a facility that has hosted numerous sporting and entertainment events. “We greatly appreciate the partnership with Syracuse University and plan on doing everything we can to put on a first-class show.” Preceding the Frozen Dome Classic will be a Syracuse vs. Utica law enforcement charity game. Additionally, a Division-III matchup between Utica College and Oswego State will follow the Crunch game. AdvertisementThis is placeholder textThe main event between the Crunch and Comets will continue to grow the rivalry between the two teams, according to the release. “The Comets are not only excited, but honored to participate on such an iconic stage,” said Comets team president Rob Esche. “We look forward to furthering our rivalry with the Syracuse Crunch.”The rink will be set up in the same way as the basketball court, according to the release, which also noted that the Dome will still be able to seat more than 30,000 fans. “We are always looking for events to place in the Carrier Dome that capture the community spirit, and this is clearly one that we believe will,” SU Director of Athletics Daryl Gross said in the release. “(We are) thrilled to host what is sure to be a spectacular day of ice hockey.” Commentslast_img read more

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