“And I think that in my view there are strong arguments to say that that will continue for the long-term, but obviously that remains to be seen – but that’s the belief we have at Alecta,” Billing said.The other three drivers behind ESG investing for Alecta cited by Billing were the clear message from the pension fund’s customers that their money should be invested in a sustainable manner; the advanced integration of ESG factors into the business models of the companies in which Alecta invested; and regulatory changes.The pension fund CEO also said customers were now placing greater importance on the social and governance aspects of ESG than they had before.“Climate has been an area that’s been very concrete and tangible and at the top of the minds of many of our customers for many years. And I think what’s changing right now is the social aspect, the S of ESG, is coming more at the forefront,” he said.This shift came down to the pandemic, he said.“We are seeing parts of society being extremely negatively affected by COVID-19 and probably will have scars for the foreseeable future,” Billing said, adding that in his view, this would translate into even more demand from the customer side to take a social-aspect investment approach. Stockmarket performance during the COVID-19 crisis has clarified that equities with higher environmental, social and governance (ESG) ratings are the “winners of tomorrow”, according to the head of Sweden’s largest pension fund, who described the revelation as a new driver for sustainable investing.Speaking at this morning’s Sustainable Investment Forum Europe Digital Event, Magnus Billing, chief executive officer of Alecta, said: “I think what has become the fourth driver [behind ESG investing] is what is coming now when we see the effects of COVID-19.”Admitting it could be too early to say whether performance so far in the crisis was evidence of a long-term effect, Billing said the data clearly showed that companies with high ESG scores were performing better than their competitors with lower rankings.“So clearly there is a strong argument to say good performers in the ESG space are the winners of tomorrow,” he said. “There is a strong argument to say good performers in the ESG space are the winners of tomorrow”Magnus Billing, Alecta’s CEO“Then on the G side, the governance side, we are starting to interpret our customers in such a way that we should take more of a stakeholder view rather than a shareholder-for-profit view,” he said.Billing said despite earlier misgivings, he now had high expectations for the European Commission’s Sustainability Taxonomy.“I was initially, I must confess, a little bit sceptical about the whole process because it was extremely difficult and technical and challenging, but the work that the group has done on the taxonomy is nothing less than very impressive and I think it will have a fundamental impact across the investment chain on how it will operate,” he said.Answering an audience question about greenwashing, Billing said the taxonomy could help investors avoid products and services that fell short.“I think we need to be a little bit cautious about initiatives around green supporting requirements on the capital requirement side,” he said, adding that such initiatives would encourage greenwashing or provide impetus for it.“But currently in the market space, I’m not that concerned about it as the market stands right now,” he said.The SEK963bn (€93bn) Swedish pension fund is a founding member of the UN-convened Net-Zero Asset Owner Alliance.Looking for IPE’s latest magazine? Read the digital edition here.
GIANT steel letters that Villawood Properties erected to support Australian athletes competing at the Gold Coast Commonwealth Games have been adapted for the Socceroos.GIANT steel letters that were erected to support Australian athletes competing at the Gold Coast Commonwealth Games have been adapted for the Socceroos.A steel soccer ball has been placed on top of the ‘GO AUSSIES’ sign at Helensvale in the lead up to Australia’s match against Peru in the 2018 FIFA World Cup tomorrow morning.Villawood Properties paid for the letters and installation in March and have since added the soccer ball to rally behind the Socceroos.The 2.4m letters are on the corner of Country Club Drive and Brisbane Rd at the entrance to Villawood’s new Helensvale community, The Surrounds.In Victoria, the ‘Villawood’ letters on Geelong Ring Rd have been used to relaymessages of inclusivity, including the recent ‘VOTE YES’ in support of marriage equality.Villawood Properties erected the giant steel letters in the lead up to the Commonwealth Games.More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoVillawood Properties executive director Tony Johnson said the letters made a visual statement and were designed to create conversation and engage the community.“The giant steel letters along the Geelong Ring Rd in Victoria have promoted local events and government issues and have become iconic in creating messages of inclusivity and support,” he said.“We want to kick start conversations and show the same support here on the Gold Coast.“Villawood is a privately owned Australian company and supporting our Aussie athletes, current and future, is a big part of our ethos.“We want to show our support for Australian athletes and sporting teams like the Socceroos who are competing on the world stage.”The letters are made of corten steel, which has become Villawood’s signature material for street and park art in Queensland and Victoria.Villawood Properties uses corten steel for its street and park art. This corten steel bird is within The Surrounds at Helensvale.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:37Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:37 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenSocceroos star sells Lower Plenty dream home00:38
The owners got Smith Architects to overhaul the 1980s house.The home at 22 Ellesmere Street, Yeronga, in Brisbane, sits on a 405sq m block and has three bedrooms, two bathrooms and a double garage. But this is not your average suburban home, with the property having its own in-built adventure.Agent Jane Elvin of LJ Hooker Annerley-Yeronga listed the property as “one of a kind”.Smith Architects designed the extension and renovation of the property four years ago, describing it on their site as “adventurous living”. The climbing wall embraces the owners’ love of mountaineering.“A client with a love of mountain sports and a growing family formed the foundation for this adventurous transformation and extension,” Smith Architects said of the home.“The trust the client had in our design process allowed us to experiment with an internal climbing wall and a complete reorientation of the house which closely reflected their priorities.”“The entry sequence through a series of contrasting enclosed and open space take guests on a unique journey before arriving at the rear private living spaces.”Ms Elvin said “adventurous this home certainly is” with the climbing wall feature in the family zone. Concrete floors keep the home low maintenance.“If a love of climbing is not your style, don’t let that stop you from inspecting as the climbing wall could be removed to create a double height living room that will blend beautifully with the rest of the home.”But she said “the little kids and big kids can enjoy the climbing wall still feeling connected to the home and outdoor activities”.More from newsParks and wildlife the new lust-haves post coronavirus8 hours agoNoosa’s best beachfront penthouse is about to hit the market8 hours ago Stunning use of wood and glass to bring the outdoors in.“This wall as mentioned can be removed which will enlarge this room, or you can leave as a feature as it is sure to be a focal point and a larger than life art piece on the wall.”She said the home would suit young couples, established families and downsizers alike.“It is certainly something special with or without the climbing wall. Not only a stunning home, but located in a highly sought after, prestige residential street of Yeronga with a North South aspect.”The price guide for the property is around $1m with the home to be sold by negotiation. Yeronga is just 5km from the Brisbane CBD. MORE COURIER-MAIL REAL ESTATE NEWS MORE NEWS Darius and Kayla Boyd’s amazing new home revealed Room to run and play at the back too. The most viewed homes in Queensland Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:06Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:06 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenYou’ll be climbing the walls in this home01:06If you think lockdown is tough, this Queensland home will have you climbing the walls – literally – except it’s lots of fun. Bizarre bubble house in Brisbane gaining global attention
Danish offshore vessel provider Maersk Supply Service has taken delivery of the Maersk Mariner, the second of six Starfish anchor handling tug supply (AHTS) vessels being built in Norway. Maersk Supply said on Thursday that the Starfish anchor handler Maersk Mariner was delivered on that day by Kleven Verft in Norway.The Starfish series is of the Salt 200 AHTS design by Salt Ship Design. The entire series will be identical with 95 meters in length, 25 meters in width, an ROV garage for one ROV Launch and Recovery System (LARS) with a built-in ROV control room as well as accommodation for 52 persons.The first Starfish vessel, the Maersk Master, was delivered and named at Kleven Shipyards in March. The delivery of the remaining four Starfish vessels should happen during 2017.Offshore Energy Today Staff
The Gambia Senegal African Petroleum (AP) has allowed for its exclusivity agreement with an unnamed oil and gas company, covering the farm-out of the SOSP license in Senegal and the A1 and A4 licenses in The Gambia, to lapse while hoping to resolve the uncertainty over its position in The Gambia early next month. African Petroleum holds a 90% operated working interest in exploration blocks Rufisque Offshore Profond (ROP) and Senegal Offshore Sud Profond (SOSP). The National Oil Company Petrosen holds the remaining 10% equity. In The Gambia, AP holds a 100% operated working interest in offshore licenses A1 and A4.African Petroleum said on Thursday it allowed the exclusivity agreement to lapse to enable it to engage with other interested parties for the SOSP license in Senegal and to provide flexibility in government discussions regarding the A1 and A4 licenses in The Gambia.To remind, the exclusivity agreement provided a framework for the incoming third party to secure a 70% operated interest in African Petroleum’s SOSP production sharing contract (PSC) in Senegal and the A1 and A4 licenses in The Gambia. It was agreed in April and extended in June to allow time to complete the process and finalize negotiations with both governments.However, reports emerged in early July that the Gambian government had ended talks with AP for the extension of exploration rights for the two offshore blocks, while looking for new investors. AP claimed the licenses had not been terminated nor had they expired. Since then, the company has been trying to resolve the situation in The Gambia.Back to current developments, AP said that the exclusivity agreement, which regarded both countries as one transaction, was viewed as too restrictive, as the company could not secure the SOSP license extension without first resolving the situation in The Gambia.That in addition to recent developments whereby the Senegalese authorities have expressed a willingness to proceed with the SOSP license extension upon the company securing a farm-out, contributed to AP allowing the agreement to lapse on Thursday, thereby enabling the company to enter into discussions with other interested parties in its SOSP License in Senegal whilst it seeks to resolve the situation in The Gambia. When it comes to Senegal, AP stated that the Senegalese authorities are currently considering the company’s proposal to extend the SOSP license for a period of 18-24 months in order to allow additional time to acquire 3D seismic and to drill an exploration well on the block.Any such extension is conditional on African Petroleum bringing in a suitable partner on the license and to this end, the management team will start discussions with a number of companies who had expressed interest in farming into SOSP but were restricted from entering into commercial negotiations as a result of the exclusivity agreement that had been in place since mid-April 2017.According to the company, the SOSP license continues to generate industry interest and the company hopes to finalize a standalone farm-out transaction on the SOSP license shortly in order to enable the license extension to be granted. African Petroleum continues to reserve its rights on the ROP license while it negotiates the SOSP extension.Commenting on the update, African Petroleum’s CEO, Jens Pace, said: “After much consideration, we have decided to allow the exclusivity agreement to lapse as we now have more flexibility to engage in standalone commercial discussions on our SOSP license in Senegal whilst we seek to resolve the uncertainty over our position in The Gambia.“We have continued to engage with the relevant authorities in The Gambia and had an audience with the President who is well informed of the situation and understands the measures that we will take should we not receive a positive outcome next month. I think the fact that we were granted an audience with the President highlights that the significant investment made by the company in these licenses is recognized by the Gambian government and we hope that sense will prevail in finding a way forward.“Our near-term focus will be on seeking a positive resolution on our position in The Gambia whilst concurrently formalizing an agreement for SOSP license. We know that there are a number of interested parties who we expect to engage with in the coming days now that we are no longer bound by an exclusivity agreement.”Offshore Energy Today Staff Since the announcements in early July 2017 regarding its A1 and A4 licenses in The Gambia, the company said it has been engaged in dialogue with Gambian officials with a view to identifying a solution that is in the best interest of all stakeholders. The company confirmed that a local representative for the company met with the Minister for Petroleum and Energy and Permanent Secretary on July 6, and a delegation from African Petroleum, including the CEO and CFO, traveled to The Gambia for a meeting with President Barrow in Banjul on July 13.Further to the meeting with the President and subsequent dialogue, it is the understanding of the management team that the government is considering the company’s proposal regarding the licenses and it is anticipated that the company will receive formal feedback and clarity on the situation from the government in early August 2017, AP said.The company has also reiterated its firm position over its legal rights to the A1 and A4 licenses in The Gambia and has communicated to the government that it will utilize the dispute resolution mechanism provisions of the licenses should the outcome of the government’s decision not be favorable to the company.In the meantime, the company noted it has been approached by other industry players that are interested to join it in the A1 and A4 licenses when the situation with the Gambian government is resolved.
Malaysia’s MISC Berhad (MISC) is currently being investigated by the Malaysian Anti-Corruption Commission (MACC) related to alleged bribery.Local media cited undisclosed sources as saying that the alleged bribery amounts to USD 27.8 million (MYR 108.5 million).MACC launched the probe following information of alleged bribes in the form of fraudulent claims devised between MISC officials and maritime contractors. The parties reportedly filed claims to receive payments for ship maintenance services, but there was no upkeep being done from 2010 to 2013.MACC raided the company’s offices on February 28 and seized several documents surrounding investigations. The commission has, to date, recorded nine statements from those within the company, including four senior officials.MISC informed that it “has been giving its fullest support and cooperation to MACC,” adding that it has a zero tolerance policy against any form of bribery or corruption by employees, subsidiaries or any persons or companies acting for MISC or on its behalf.World Maritime News Staff
Two platforms for the Statoil-operated Johan Sverdrup development off Norway are now at Aibel’s yard in Haugesund, Norway, following the arrival of the riser platform from South Korea. The first of the two, the drilling platform, was built by Aibel. Following the integration of three modules that constitute the drilling platform in Klosterfjorden in September 2017, the platform was moved to Haugesund where it was moored over autumn and winter for installation completion.The drilling platform was joined by the riser platform on Wednesday, Aibel said on Thursday. The second of the two platforms was built by Samsung Heavy’s shipyard in South Korea. Its journey to Norway started in late February.Both platforms are now undergoing the final preparations at Aibel’s yard before sailaway to the Johan Sverdrup field in the Norwegian sector of the North Sea.Aibel will install two cranes on the riser platform before it heads to the field later this month. Aibel’s work includes hoisting and installing the two cranes, which is an operation that will take two to three days. Each crane measures 69 x 18.5 meters and weighs 182 tons.Bjørn Tollefsen, Aibel EVP Modifications and Yard Services, said: “It is the first time in history we have two big platforms at the yard at the same time, and it is a fantastic sight. Also, when you get to see two of the four Johan Sverdrup platforms together like this, it is a rather unique preview of how it is going to look out on the field.”According to plan, the finished drilling platform for the Johan Sverdrup field will leave Aibel’s yard in Haugesund in the turn of the month May/June.Johan Sverdrup is one of the five largest oil fields on the Norwegian continental shelf with expected resources of between 2.1—3.1 billion barrels of oil equivalents. Production start for Phase One is planned for late 2019.Back in March, Statoil proceeded with maturing Phase 2 for the investment decision and submission of the plan for development and operation (PDO) in the second half of 2018. Statoil also awarded FEED contracts for Phase 2 to Aker Solution, Kværner, and Siemens.In April, Statoil moved ahead with its Phase 2 plans by awarding a contract for modifications of the riser platform and the field center for the Johan Sverdrup development to a joint venture between Aker Solutions and Kvaerner. Aibel was awarded more work on the project with a contract for the construction of the processing platform topside.Phase 2 of the giant Johan Sverdrup development is scheduled to come on stream in 2022.Offshore Energy Today Staff
Minesto’s Strangford Lough test site (Photo: Minesto) Marine energy developer Minesto is looking to enter into a framework agreement for marine operations services at its tidal test site in Strangford Lough, Northern Ireland.Starting from 2010, Minesto has been testing its scale Deep Green technology models at the Strangford Lough demonstration site for long term testing in offshore conditions.In order to carry out the testing, Minesto occasionally needs marine support services for diving works, vessel maintenance, mooring/barge maintenance and marker buoy servicing.Thus, Minesto would like to set up a framework agreement with one or several suppliers of these services, according to the tender on Welsh government’s procurement portal Sell2Wales, which is open for applications until May 23, 2018.To remind, Minesto has recently awarded J Mitchell Fishing with a contract for the provision of a vessel that will also support scale testing of Deep Green tidal energy technology in Northern Ireland.The test site is used for the optimization of fundamental parts of Deep Green power plant by transferring and implementing knowledge gained through scale testing to full-scale, commercial product.Minesto’s first commercial-scale 500kW Deep Green tidal power plant is currently undergoing phased installation at Holyhead Deep in Wales that is expected to be completed over the coming months the Swedish developer said earlier.
China International United Petroleum & Chemicals Co. (Unipec), a wholly-owned subsidiary of China’s oil major Sinopec, has reportedly suspended imports of crude oil from the United States amid ongoing trade tensions between the two countries, Reuters informed citing unnamed sources.Based on the report, it is not clear until when will the suspension last, however, it appears that Unipec has no bookings for U.S. crude oil until October. Nevertheless, the company, which is the world’s largest charterer of VLCCs, is likely to continue trading U.S. crude.The trading freeze comes as Washington is about to announce a new wave of tariffs against China targeting USD 200 million of Chinese goods, increasing taxes from 10 to 25 percent. China has already prepared a counter strike should U.S. move forward with the new tariffs. Namely, the Chinese Ministry of Finance announced it would impose a USD 60 billion worth of tariffs on U.S. goods, including LNG.If the proposed tariffs, amounting to USD 16 billion, are implemented, the tanker and gas shipping industries can also expect changes to trade lanes as China switches to other supplier countries.The US crude oil exports are most likely to be affected and these are primarily driven by China, which was responsible for 25 pct of all US seaborne crude oil exports in terms of volumes in 2017, as indicated earlier by BIMCO.World Maritime News Staff
BW LPG, the world’s largest liquid petroleum gas shipping company, has signed contracts including future options for the delivery and retrofitting of four LPG-propelled dual-fuel engines in its fleet.BW LPG claims in a statement that this move is “a world’s first initiative.” The company expects the first retrofitting to take place in conjunction with scheduled drydockings starting 2020.With LPG propulsion, BW LPG says it would reduce its sulphur oxide emissions by up to 97 percent, allowing for full compliance with all current and future sulphur emissions requirements.This means the retrofitted ships, when operating on LPG, will go beyond IMO’s global 0.5% sulphur emissions cap to also be in full compliance with Emission Control Areas (ECA) and Sulphur Emission Control Areas’ (SECA) 0.1% sulphur cap, according to BW LPG.“BW LPG has been preparing for IMO 2020 for years… We will be the global pioneer in operating next-generation, high-tech green ships with dual-fuel propulsion,” Martin Ackermann, BW LPG chief executive said in the statement.