Australia’s second-largest retirement fund is divesting from thermal coal FacebookTwitterLinkedInEmailPrint分享The Sydney Morning Herald:Australia’s second-largest superannuation fund is preparing to dump its shares in companies that derive more than 10 per cent of their revenue from thermal coal mining as it embarks on the most aggressive immediate climate push of any large local investor.First State Super, which holds $130 billion [US$90 billion] in retirement savings, is distributing a new climate plan among its members detailing initiatives to shield their money from the threats of global warming, including setting a 30 per cent emissions-reduction target across its investment portfolio by 2023 and a 45 per cent cut by 2030.First State chief executive Deanne Stewart told The Age and The Sydney Morning Herald climate change posed the single biggest risk to Australians’ retirement savings, and superannuation investors must “take bold and decisive action now” to safeguard members’ long-term interests.“Climate change clearly poses the most significant risk to investment portfolios over the long term,” she said. “Why we are stepping it up to a much greater degree now is we see that risk front and centre in terms of the impact it is likely to have on investment returns for our members.”The most immediate direct action is to divest all its shareholdings of companies that mine thermal coal – the type of coal used in power generation – by October 2020. Although the plan does not specify which thermal coal miners will be divested, corporate records indicate First State held shares in ASX-listed Whitehaven Coal, Stanmore Coal, New Hope and Washington H. Soul Pattinson in 2019.The next phases of the fund’s strategy – a 30 per cent emissions cut across its entire listed equities portfolio by 2023 and 45 per cent by 2030 – are more immediate goals than those set by many other investors, whose targets stretch out to 2050.[Nick Toscano]More: Top super fund dumps coal miners as emissions cuts intensify
MOST READ Lue has experimented with Love at center during training camp and believes the new-look lineup will create matchup problems for opposing centers as well as open the floor for LeBron James, Derrick Rose and others.“He’s a great passer,” Lue said of Love. “Fives (centers) have to get out and try to guard him on the pick and roll with LeBron and D-Rose and those guys making plays, so it’s going to be tough for those guys. We liked it.”FEATURED STORIESSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’SPORTSFederer blasts lack of communication on Australian Open smogCenter Tristan Thompson will come off the bench, and newly acquired forward Jae Crowder will take Love’s former spot, Lue said. Crowder, acquired this summer in the Kyrie Irving trade, is a strong defender.Lue said he spoke to Thompson about the switch and “it was great.” Thompson started all 78 games at center for Cleveland last season. In 2016, he made just 33 starts and the Cavs went on to win the NBA title. How to help the Taal evacuees LATEST STORIES It’s too early to present Duterte’s ‘legacy’ – Lacson Mos Burger to open in Manila; teases with a pop-up DAY6 is for everybody “With Jae starting at the four, LeBron’s able to roam freely on the defensive end,” Lue said. “Jae will take the toughest matchup between the 3s and the 4s and LeBron will be able to roam and kind of quarterback our defense. Being that back line defense, talking, communicating, and also being able to pick off passes when guys are throwing bad passes. I like LeBron in that role because he’s great at being the help guy, being in the right spots at the right places, so I think it will be good for us.”For now, James is sidelined with a sprained left ankle sustained last week in practice. Lue said the three-time champion will not play in Wednesday night’s exhibition opener against Atlanta. James’ injury is not believed to be serious, and the Cavs will make sure he’s full healed before he plays.Lue said he expects James on the court at some point in the preseason. Cleveland opens the regular season on Oct. 17 against Irving and the Celtics.Sports Related Videospowered by AdSparcRead Next Jake says relationship with Shaina ‘goes beyond physical attraction’ Don’t miss out on the latest news and information. View comments OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Margot Robbie talks about filming ‘Bombshell’s’ disturbing sexual harassment scene Nadal credits passion and overcoming injuries for success “I told him I’m one guy you don’t have to worry about,” Thompson said. “I’m a team-first guy. I understand that at the end of the day it’s about winning and if you win, we all look good — whether you come off the bench or you start. And it’s not about who starts the game, it’s about who is in the game in the fourth and who is finishing it. So, I’m not worried. The last time I came off the bench, if history repeats itself, we had a parade in June. So, I’ll take it.“I’m going to go for Sixth Man of the Year, put myself in position to do that.”Lue has more options this season after Cleveland’s roster was overhauled with Irving being traded to Boston and the additions of Rose, Crowder, Dwyane Wade, Isaiah Thomas and Jeff Green.Wade will likely be Cleveland’s backup point guard until Thomas recovers from a hip injury, but Lue said he hasn’t committed to that idea just yet.As for Crowder, Lue said his defensive presence will free up James.ADVERTISEMENT Redemption is sweet for Ginebra, Scottie Thompson Kevin Love of the Cleveland Cavaliers celebrates his basket in the first quarter against the Brooklyn Nets at the Barclays Center on January 6, 2017 in the Brooklyn borough of New York City. Elsa/Getty Images/AFPCLEVELAND— Cavaliers All-Star Kevin Love is being moved after all — from forward to center.Love, who has been the subject of trade speculation for three years in Cleveland, will be the club’s new starting center, coach Tyronn Lue announced Monday night after the team played an intra-squad scrimmage at Quicken Loans Arena.ADVERTISEMENT In ‘Jojo Rabbit,’ Comedy and Drama Collide
Google has unveiled the first prototype of its self-driving vehicle. The vehicle was first revealed in May, but the car Google presented was just a mockup without headlights.“Since then, we’ve been working on different prototypes-of-prototypes, each designed to test different systems of a self-driving car—for example, the typical ‘car’ parts like steering and braking, as well as the ‘self-driving’ parts like the computer and sensors,” Google wrote on its Google+ page. “We’ve now put all those systems together in this fully functional vehicle—our first complete prototype for fully autonomous driving.”Google will be testing the car on its test track throughout the holidays and hopes to get the vehicle on the road in 2015. The company’s safety drivers will continue to manage the car for the time being.Microsoft announces Azure Media Services live streaming with new PlayReady encryptionMicrosoft is beefing up security in its live-streaming cloud services, adding PlayReady encryption to Azure Media Services. PlayReady is an encryption technology to protect both on-demand video technology and live streams. According to a blog post from Azure Media Services program manager Mingfei Yan, PlayReady can work with a combination of other Azure-supported security mechanisms and protocols, including HTTP Live Streaming, Smooth Streaming and MPEG DASH and AES dynamic encryption for live streaming.A full list of PlayReady setup instructions is available in the blog post.Apple’s first automatic security updateApple has rolled out its first automatic security update to help defend against newly discovered bugs, Reuters has reported. The update was pushed out to Mac computers in order to fix a bug affecting the computer’s network time protocol. The company decided to push the update out automatically in order protect customers and minimize possible damage. Apple introduced automatic security updates about two years ago, but this was the first time the company took advantage of the technology.