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Op-Ed: One Way to Harness Michigan’s Industrial Might? Wind-Turbine Manufacturing

first_img FacebookTwitterLinkedInEmailPrint分享Liesl Eichler Clark for the Lansing (Mich.) Journal:When we think of American manufacturing, the first place that should come to mind is Michigan. This is a state that knows how to get things done; Detroit helped create America as we know it by ushering the era of the automobile, and Michiganders know how to build the goods the rest of the country needs.That still holds true for the products of the 21st century. Today, Michigan is a leader in building the parts needed for America’s fastest growing electricity source: wind energy. In 2015, wind was the largest source of new electric generating capacity in the U.S. and the cheapest, cheaper than natural gas and coal.With 32 factories in the state that build wind-related parts, among the most in the country, Michigan is once again playing a big role in America’s move toward a better future.In turn, this is helping people across the state. Wind energy supports up to 2,000 well-paying jobs in Michigan, and it has driven $3 billion of capital investments into the economy.Wind power is also strengthening communities. Up to $5 million in lease payments are paid every year to landowners who host wind turbines on their property.Wind farms also grow the tax base where they’re located, providing new revenue for schools, roads, public safety, libraries and services for seniors and veterans. By 2020, this revenue could surpass $11.6 million every year.Wind power provides these benefits while keeping more money in the pockets of Michigan’s families and businesses. Through 2050, it could save almost $3.6 billion on electricity bills, on top of $10.9 billion in savings from protection against conventional fuel price spikes.A specific policy helped create a lot of this good news.In 2008, Michigan lawmakers passed a renewable portfolio standard (RPS) calling for 10 percent of retail electricity sales to come from renewable energy sources by 2015. Not only did the state achieve this target, it did so at considerably lower costs than projected. Because the law required a 50/50 split of projects—half to be built by utilities and half in a competitive market by independent power producers – prices were driven down even more.Now, Michigan’s lawmakers once again have the opportunity to create more good jobs and savings for the state’s residents.They can amend legislation currently under consideration to increase the state renewable requirements while maintaining the 50/50 project split.State renewable requirements are smart policy with long track records of success. The Lawrence Berkley National Laboratory and the National Renewable Energy Laboratory found renewable energy projects developed to meet state RPSs created $7.5 billion in annual environmental benefits from reduced air emissions, $1.3 billion to $4.9 billion in reduced consumer energy prices and 200,000 American jobs through 2013.Millions in consumer savings, thousands of good jobs and new resources for communities across the state- passing new legislation to further grow these benefits should be a slam dunk.Full item: Strengthen future with renewable energy standards Op-Ed: One Way to Harness Michigan’s Industrial Might? Wind-Turbine Manufacturinglast_img read more

UK roundup: £43bn asset pool hires Robeco for engagement mandate

first_imgSource: Pension Protection FundThe UK’s private sector funding shortfall has shrunk significantly in the past few yearsEngineering institute strikes £50m de-risking dealThe UK’s Institute of Engineering and Technology (IET) has sealed a £50m pension fund buy-in with Pension Insurance Corporation.The transaction covered 300 previously uninsured members of the IET Superannuation and Assurance Scheme.According to Hymans Robertson, which advised the scheme’s trustees, the deal was struck at “favourable” pricing in the second quarter of this year. This led to “a material improvement” in the scheme’s funding position.The IET fund previously completed a £30m medically underwritten buy-in in 2015. “We were really keen to find a partner that would be able to help us develop our voice, to deliver the things that both our partner funds and central government had asked us to do,” she added.Although the voting and engagement mandate was predominantly focused on equities, Elwell said the pool expected it would work with Robeco “to think about how we embed responsible investment in some of the other asset classes”.Border to Coast has 12 partner local authority pension funds and is in the process of creating a regulated investment company to manage their assets.It recently joined the Local Authority Pension Fund Forum and became a signatory to Climate Action 100+. It is also a supporter of the Task Force on Climate-related Financial Disclosures and the 30% Club Investor Group, which seeks to increase gender diversity.UK DB deficit falls below £90bnThe combined funding shortfall of the UK’s private sector defined benefit (DB) pension schemes fell to £86bn at the end of June, according to the Pension Protection Fund (PPF).The DB lifeboat scheme’s 7800 index showed a reduction of £8bn, or 8.5%, during the month. However, this was still significantly higher than January’s £51bn figure, which was the lowest total deficit recorded by the 7800 index since April 2014.The aggregate funding ratio across the 5,588 schemes tracked by the PPF was 95% at the end of June.Andy Tunningley, head of UK strategic clients at BlackRock, warned that equity market gains that had helped raise funding levels might not last: “Schemes should make the most of the sunny outlook while it lasts – while equity markets remained buoyant in June, escalating geopolitical tensions and uncertainty over the viability of the latest Brexit proposal could cause unexpected downpours in the shape of equity market volatility which may remove funding level gains over the last year.He added that the potential for an increase in the UK’s base interest rate meant there was a risk of increased funding costs for UK schemes exposed to floating rate derivatives. “Financing costs are set to increase and trustees should ensure they have prepared adequately for the change in season by giving thought to using their spare collateral to earn additional return, such as through absolute return bond funds or securitised assets,” Tunningley said.Boris Mikhailov, investment strategist at Aviva Investors, agreed that pension schemes should “brace themselves for an even choppier ride”.“Without a clear game-plan, most schemes will be none the wiser if markets start moving against them,” he warned.#*#*Show Fullscreen*#*# The Border to Coast Pensions Partnership has hired Robeco to perform voting and engagement services.Through its “active ownership” service Robeco will provide voting advice and support for the £43bn (€48.7bn) public sector asset pool’s actively managed equity holdings – both for internally managed and externally managed assets – and engage on the pool’s behalf.Border to Coast CEO Rachel Elwell told IPE Robeco’s approach appealed because “for us responsible investment isn’t pink and fluffy, it’s about improving partner fund outcomes”.Another draw was that the research and analysis Robeco carried out for its voting recommendations could be embedded into Border to Coast’s own investment processes, she said.last_img read more

Irish perform well on Day 3 of Paralympics

first_imgShe finished fourth with a personal best of 12.81 in her heat but admits she’ll need to do better in the final.Nicole Turner qualified for tonight’s final of the S6 50 metre freestyle.She finished second in her heat and seventh overall in 36.70.Sean Baldwin failed to qualify for the final of the 10m prone Air Rifle, finishing 33rd out of 43 competitors. She came home in a time of 4:45.06, smashing her personal best yet again. The 21-year-old, who is originally from Lithuania but now lives and studies in Dublin, was moved up a place from 5th after another runner was disqualified.Orla Comerford is through to tomorrow’s final of the T13 100 metre heats as fastest loser.last_img

BYC and LISCR in Midweek Clash

first_imgCoach Cooper Sannah talks to his players after taking the 2-0 lead in the first half against Ferroiario de Beria on Sunday–As FC Fassel take on LPRC Oilers and Monrovia Club Breweries go against Watanga FC Following their exit from the CAF Champions League on Sunday by Mozambican side Ferroiario de Beira in a penalty shootout, LFA reigning champions Barrack Young Controllers will today return to action against Coach Tapha Manneh’s LISCR FC at the Blue Field in Monrovia.BYC, currently seated fourth (4th) on the league table, are hoping to move to second place on the table and close the gap between them and league leaders FC Fassel.In their last league match against knockout champions Monrovia Club Breweries, the Go Blue Boys settled to a goalless draw and failed to secure all three points despite getting an advantage during the match after their opponents were reduced to 10 men in the early minutes of the second half.“We have no other option than win; we need the three points to close the gap.”– Coach Tapha MannehLISCR on the other hand will be eager to recover from their disappointing draw against Paynesville ELWA United in their last league match after they came from a goal down to manage a one-all draw.The draw was a disappointing result for the Shipping Boys after they dominated the match, but could not get the curtain raiser until ELWA United got the opener in the 61st minute that forced Coach Manneh’s boys to fight for the draw.But in an interview about today’s clash, Coach Manneh, who will be coaching against BYC for the first time, admitted that his opponent is tough and “they have the best players, but in football a coach’s role makes much difference than players’.”LISCR are second on the league table with 18 points out of ten matches. A win for the Shipping Boys will see them ending the first phase as the only unbeaten side after winning four and drawing six of their last ten matches.BYC, with two games on hand, are in the third place with 17 points out of nine matches.In other midweek fixtures, league leaders FC Fassel – who are seven points ahead of LISCR FC – will be going against bottom side LPRC Oilers at the Antoinette Tubman Stadium.Oilers were beaten 2-0 in their last league match against Keitrace FC and are second from bottom with five points out of ten matches.In the day’s final encounter, after their huge 5-1 victory over Keitrace FC, 3rd place Monrovia Club Breweries will enter into a tough encounter against 6th place Watanga FC at the ATS.Breweries are leveled on points with LISCR, with 18 points out of ten matches.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more