Ireland to divest fossil fuel investments

first_imgIreland to divest fossil fuel investments FacebookTwitterLinkedInEmailPrint分享The Guardian:The Republic of Ireland will become the world’s first country to sell off its investments in fossil fuel companies, after a bill was passed with all-party support in the lower house of parliament.The state’s €8bn national investment fund will be required to sell all investments in coal, oil, gas and peat “as soon as is practicable”, which is expected to mean within five years. Norway’s huge $1tn sovereign wealth fund has only partially divested from fossil fuels, targeting some coal companies, and is still considering its oil and gas holdings.The fossil fuel divestment movement has grown rapidly, and trillions of dollars of investment funds have been divested, including large pension funds and insurers, cities such as New York, churches and universities.The Irish fossil fuel divestment bill was passed in the lower house of parliament on Thursday and it is expected to pass rapidly through the upper house, meaning it could become law before the end of the year. The Irish state investment fund holds more than €300m in fossil fuel investments in 150 companies.“The [divestment] movement is highlighting the need to stop investing in the expansion of a global industry which must be brought into managed decline if catastrophic climate change is to be averted,” said Thomas Pringle, the independent member of parliament who introduced the bill. “Ireland by divesting is sending a clear message that the Irish public and the international community are ready to think and act beyond narrow short term vested interests.”The bill defines a fossil fuel company as a company that derives 20% or more of its revenue from exploration, extraction or refinement of fossil fuels. The bill also allows investment in Irish fossil fuel companies if this funds their move away from fossil fuels.More: Ireland becomes world’s first country to divest from fossil fuelslast_img read more

New Mexico regulators approve utility plan to abandon 847MW San Juan coal plant

first_img FacebookTwitterLinkedInEmailPrint分享Santa Fe New Mexican:The state’s largest electric utility will be allowed to abandon a coal-fired power plant near Farmington and recover investments by company shareholders after a unanimous vote Wednesday by the New Mexico Public Regulation Commission.The video meeting was cut short by a so-called Zoom bomb — named for the popular video-conferencing app — just as commissioners appeared to be preparing to vote on whether to allow Public Service Company of New Mexico to abandon its coal-fired San Juan Generating Station.PNM Resources Chairwoman, President and CEO Pat Vincent-Collawn said in a statement that customers and the environment “will benefit as we move to exit all of our coal-fired generation and replace it with lower-cost, cleaner energy resources.”Vincent-Collawn also said the company’s ability to recover costs will help it offer $40 million for workers who will lose their jobs and for economic development in the community of Farmington if the coal plant idles.But whether the plant will actually close as a result of PNM leaving it behind is still unclear. A company called Enchant Energy is pursuing a separate plan to buy the station and install carbon-capture technology to keep it running.The decision Wednesday comes after months of legal proceedings that delayed certainty over whether PNM could leave the coal plant behind. Commissioners approved recommendations from the regulatory agency’s hearing examiners to allow the PRC to abandon the coal plant under provisions in a new renewable energy law that gives PNM the ability to sell bonds to earn back investments made by shareholders.[Michael Gerstein]More: PRC approves PNM plan to close San Juan plant after meeting derailed by ‘Zoom bomb’ New Mexico regulators approve utility plan to abandon 847MW San Juan coal plantlast_img read more

SS Torres, LHP Paxton join crowded Yankees injured list

first_img FOLLOW US All-Star shortstop Gleyber Torres and left-hander James Paxton have joined the New York Yankees’ crowded injured list.Torres had an MRI on Friday that revealed mild strains in his left hamstring and quad, while Paxton had an MRI on Thursday that showed a low-grade strain in his left forearm flexor. Both were added to the IL on Friday.Left-hander Luis Avilán was also placed on the injured list after an MRI on Thursday revealed left shoulder inflammation.The Yankees were supposed to play three games against the crosstown Mets this weekend, but the Subway Series was postponed after two members of the Mets tested positive for the coronavirus Thursday.The Yankees are already without star hitters Aaron Judge, Giancarlo Stanton and DJ LeMahieu, as well as left-hander Zack Britton, right-hander Tommy Kahnle and backup catcher Kyle Higashioka — all on the IL. Judge was expected to be activated Saturday after recovering from a strained right calf.Torres was injured running to first base on an RBI groundout in the third inning of a game Thursday night against AL East-leading Tampa Bay. The 23-year-old is hitting .231 with one home run in 24 games, and he’s also struggled defensively since replacing departed Didi Gregorius as the everyday shortstop.Paxton has lacked the usual zip on his fastball this season after having back surgery in February. He allowed three runs in five innings against the Rays on Thursday, striking out eight. The 31-year-old is 1-1 with a 6.64 ERA in five starts. He can become a free agent at the end of the season.The Yankees also traded right-handed reliever David Hale to the Philadelphia Phillies on Friday in exchange for righty relief prospect Addison Russ. The 31-year-old Hale pitched six innings and had one save for New York. He was designated for assignment Monday when All-Star closer Aroldis Chapman returned from the COVID-19 injured list.The 25-year-old Russ has been working out at Philadelphia’s alternate site and hasn’t pitched above Double-A. He has a 2.48 ERA and 50 saves over three minor league seasons, including a 2.54 ERA and 22 saves with Double-A Reading last season.Russ was added to New York’s 60-man roster and assigned to the alternate site.Image credits: AP Last Updated: 22nd August, 2020 06:57 IST SS Torres, LHP Paxton Join Crowded Yankees Injured List Torres had an MRI on Friday that revealed mild strains in his left hamstring and quad, while Paxton had an MRI on Thursday that showed a low-grade strain in his left forearm flexor. Both were added to the IL on Friday Associated Press Television News First Published: 22nd August, 2020 06:57 IST LIVE TVcenter_img COMMENT WATCH US LIVE Written By SUBSCRIBE TO USlast_img read more