Investors call for action after Brazilian mining disaster

first_imgThe Church Commissioners for England and the Church of England Pensions Board (CEPB) have been joined by the Council on Ethics for Sweden’s AP1, AP2, AP3 and AP4 funds, Dutch pension giant APG, the UK’s LGPS Central and New Zealand Super, as well as several asset managers. The Church of England is leading calls from institutional investors for a global independent public classification system to monitor the safety risk of “tailings” dams linked to mines, after a collapse in Brazil killed 100 people.More than 200 people are missing following the collapse of the dam in Brumadinho in the south east of Brazil on 25 January.The dam was an embankment used to store by-products of iron ore mining operations, and its collapse resulted in mudslides that engulfed local communities. The human toll was accompanied by potential contamination from the red iron ore waste that swept across the countryside.The Mina Feijão operation in Brumadinho is owned by Brazil’s largest mining company, Vale. “We have lost confidence in the sector’s ability to regulate itself on this issue”John Howchin, AP funds’ Council on EthicsThe group has proposed that the new classification system for safety risk should be independent of mining companies and require annual audits of all tailings dams, as well as verification that the highest corresponding safety standards were being implemented. All reporting should be made public through a database accessible to communities, governments, civil society and investors. John Howchin, secretary general of the Council on Ethics, said: “We have lost confidence in the sector’s ability to regulate itself on this issue. The consequences when something goes wrong are clear. We will be working with other investors to insist the necessary steps are taken.”Adam Matthews, director of ethics and engagement for the CEPB, said: “These failures of tailings dams should not be happening. These are not black swan events.“An independent classification system will ensure that communities, workers and investors know the safety standards of tailings dams are in place and if they are being applied. This proposal will drive a new level of accountability and transparency within the mining sector.”The group is planning to convene a meeting of international industry experts and major investors in the sector. This will take place in London, chaired by David Urquhart, Bishop of Birmingham.All shares in Vale held within the Church Commissioners’ and CEPB’s portfolios – worth £10m (€11.4m) in total – were disposed of shortly after the disaster occurred.Institutional investors have previously called for change at mining corporations including Vale following a similar disaster in Brazil in 2015.The CEPB said it has engaged for some years in ongoing dialogue with mining company senior staff in relation to the companies’ role in society. It has also “heavily engaged” with commodities giant Glencore on climate, and health and safety.last_img read more

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CHC chief executive resigns. Interim CEO named

first_imgPresident and chief executive officer of helicopter operator CHC has resigned to accept an opportunity outside of the oil and gas industry.CHC said on Wednesday that president and CEO Karl Fessenden would resign from the company on August 2.Dave Balevic, SVP of engineering and operations, will assume the role of interim CEO while the company looks for Fessenden’s successor.Fessenden said: “It has been a privilege working shoulder-to-shoulder with the best team in the business. I want to thank the team and the board of managers for their support.“CHC is in a strong position both financially and competitively in the marketplace, and the course to a bright future is set by continuing to execute our strategy.”John Gremp, chairman of CHC board of managers, added: “On behalf of the board, we thank Karl for his service and many accomplishments during his tenure as CEO. We will always be grateful for his leadership at a critical juncture in CHC’s history. We wish Karl and his family the very best.“[…] we are fortunate to have Dave step in as interim CEO. He has the board’s full confidence and will ensure continuity while we conduct a thorough search for a permanent replacement.”Fessenden was named president and CEO of CHC Helicopter and a board member of its parent company, CHC Group, in February 2015. He came to CHC from GE.Fessenden led multiple global-service business units at GE Energy and GE Aviation. Most recently he directed GE’s integration of the Alstom power-generation business, the largest acquisition in GE’s history.Before that, he managed GE’s $8 billion Power Generation Services unit, the largest industrial-services business at GE. His background includes 15 years in the aviation sector with GE and Pratt & Whitney.As for Balevic, he was appointed to his current position in May 2015, coming to CHC with 26 years of progressive leadership experience at General Electric.During his time at GE, he held roles in aviation, power generation, and oil and gas.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.last_img read more

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GOtv Boxing Night 15: Houanvoegbe Will See Stars, Boasts Dodo

first_img“He needs to talk to my previous opponents. I show no mercy on the ring. Once I step in, the objective is to finish off the opponent. Houanvoegbe will see stars. I am not joking,” boasted Dodo.In the other international bout, the biggest of the seven fights scheduled, Nigeria’s Oto “Joe Boy” Joseph will defend his African Boxing Union (ABU) lightweight title for the first time when he confronts Ghanaian challenger, Nathaniel Nukpe.Other bouts include a national cruiserweight clash between Michael “Lion Heart” Godwin and Idowu “ID Cabasa” Okusote as well as the national light welterweight contest between Vincent “Dada” Essien and Segun “Showboy” Olalehin.The event, sponsored by GOtv and Bet King, will be beamed live on SuperSport in 47 African countries.The best boxer at the event will go home with a cash prize of N1 million alongside the Mojisola Ogunsanya Memorial Trophy.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Light Middleweight Boxer, Akeem “Dodo” Sadiku, has warned his opponent at GOtv Boxing Night 15, Franc Houanvoegbe of Benin Republic, to expect an explosive fight that will leave him seeing stars.The two boxers are billed to clash in an international light middleweight challenge at the event, which holds on 29 July at the Indoor Sports Hall of Obafemi Awolowo (formerly Liberty) Stadium in Ibadan. It is one of the two international bouts scheduled for the event.Dodo, who is famous for his fast and furious punching, said Houanvoegbe will be wobbly and see stars within the first three rounds of the encounter.last_img read more

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Men’s rowing: Coach Hoopman talks roster cuts, improving freshman class

first_imgAs the University of Wisconsin men’s rowing varsity team and Head Coach Chris Clark prepared for the Head of the Charles race in Boston last weekend, Assistant Coach Beau Hoopman and the rest of the coaching staff had some big decisions to make as far as how the rest of the men’s rowing roster will look. Out of the 80 total rowers on the roster, 14 went to Boston while the other 66 stayed behind. Thirty-five freshmen will be chosen for the final roster after cuts this week so that the team can have their best possible lineup for the freshman race at the North Star Regatta in Minneapolis next week.After the Head of the Newville scrimmage last weekend, Hoopman feels the freshmen squad is “relatively competitive” compared to previous years and that a couple of the freshmen boats are already “pulling varsity scores.”Hoopman said it’s not often the team gets recruits that are immediately capable of pulling off varsity scores, so this is very promising feedback for a program that is seeking its first national championship since 2008. Football: Can Badgers, Hornibrook find their mojo against Illini?Wisconsin Badgers (4-2, 2-1 Big Ten) will greet a middling Illinois Illini (3-3, 1-2 Big Ten) at Camp Randall Saturday Read…For even the best recruits, the tough transition from high school to college rowing can be a challenge.“[The biggest transition is] easily the speed,” Hoopman said. “It’s just something that the newcomers aren’t used to and it takes some adjusting to.”Despite the difficult adjustment period, Hoopman has faith in the young group and seems to think that some of the freshmen are varsity material. But he wasn’t quite ready to give any names with freshmen cuts approaching.Ultimately, it often comes down to which players want it the most.“I expect all of them to make it, but we’ll see who sticks with it and really puts in the work,” Hoopman said.Rowing is a sport that is often much more than just natural talent, so when there are exceptionally hard workers on a team, it’s common for them to leap beyond those that are more physically gifted or have more experience going in. Hoopman has noticed one novice rower in particular that has surpassed some of the more experience rowers due to his hard work in the first couple months of the training season — though again, the coach wouldn’t discuss any names.Volleyball: Badgers welcome Cornhuskers for Friday night showdownThe No. 9 University of Wisconsin Women’s Volleyball team (12-4, 5-3 Big Ten) is set to welcome the No. 5 Read…It doesn’t help that Wisconsin typically doesn’t get the most competitive recruits compared to top rowing schools on the East and West coast, so this is a team that is more reliant on the development of less experienced rowers. But this lack of top recruits hasn’t stopped Hoopman from believing in his rowers.“It’s very rare that we get competitive recruits, but this group is figuring it out pretty quick,” Hoopman said. “There’s some serious potential in some of our freshmen boats.” If these rowers achieve the potential that Hoopman seems to anticipate, this could be a very competitive Wisconsin rowing team in the near future. But their first true test of the season will come very soon.After making the final freshmen cuts, Hoopman and the slimmed down freshmen rowing roster will find out what they are made of next weekend in Minneapolis, where they will compete against top freshmen competition from other schools in the Midwest.last_img read more

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