SMC government sets goals for coming year

first_img Chesley and Smith have optimism for SGA’s role in the current school year.  “I know how aggravating of a situation it is, but I hope that people come [to the forum] in the most mature, respectful manner possible,” Chesley said.  We are hoping that students will come; we know they are angry and upset.” New bylaws were established with the creation of the new committee. If students believe they deserve more than the committee has allotted, there is an appeals process in which the clubs can appeal to the SGA board at the weekly SGA meetings. “We want SGA to become known for sponsoring clubs, but also really being an advocate for the student body on issues such as [the co-exchange meal program],” Smith said.  Currently, SGA is doing its part with the co-ex issue.  The co-exchange program, which used to give 75 meal tickets daily on a first-come, first-serve basis to Saint Mary’s students to dine on Notre Dame’s campus, changed at the beginning of the school year, placing more restrictions on who could get the passes. “We kind of realized that [the old system] was wasting time, because the big board wasn’t able to really focus on the needs of the student body,” Smith said.  “They were just handing out money every week.” The finance committee will consist of the executive president, vice president, treasurer and secretary, the chief of staff and the campus clubs commissioner.  The committee meets once a week.  SGA is focusing on communication between clubs. There will be a club social event where club presidents and vice presidents will be able to interact. This way they will be able to have a basis to collaborate on events and meetings, Smith said.  “We are having a blast so far,” Chesley said.  “It’s been challenging, but fun.  We are excited to see what we can accomplish this year.”   Smith agreed and said students should present their thoughts in a collective manner so they can be heard.  One new addition to SGA is the international commissioner, who will act as a liaison between SGA and the international and transfer students.   In regard to the communication between student government and clubs, Chesley and Smith have developed a finance committee, a new sub-committee of the SGA board.  Chesley and Smith said they hope this will allow the big board to focus on other pressing issues of the student body. “Overall, we have on established goal: to take action,” Chesley said.  “I think one of the biggest things is that SGA is kind of the umbrella organization for clubs on campus,” Smith said. “Our big point is to really communicate effectively with them so that they know they can come to us, or if they have any questions or need resources, we have commissioners to represent the students of the college.” “We have met twice with Karen Johnson [vice president of Student Affairs] since we found out about the situation the Saturday before classes began,” Chesley said. “We have also contacted Notre Dame Food Services but are waiting to hear back from them to set up a meeting to further discuss the issue.” Chesley and Smith said they believe all of their initiatives this early in the semester will provide a foundation for this year.  There will be an open forum Tuesday at 6:30 p.m. where Johnson and Barry Bowles, director of dining services. will be able to address students’ questions.  The co-ex situation was not the smoothest of starts, but it has provided an opportunity for SGA to demonstrate their support for the student body, she said.  “The sky is the limit” is the new motto for this year’s Saint Mary’s Student Government Association (SGA). President Rachael Chesley and vice president Laura Smith, both seniors, said their main goals for this year are to establish transparent and effective communication between student clubs and SGA and to be a strong advocate for the students. “We are trying to make everything really fluid and fair,” Chesley said. In the past, clubs presented their cases to the big board at the weekly meetings for funding from SGA, but the finance committee will now review these cases.  Meg Griffin, the treasurer of the committee, will be hosting a financial seminar for the first time where all of the clubs treasurers and one other executive member are required to attend.  They will go over how to fill out allotment fund forms, requirements for asking for funds and fundraising ideas.  “Once we get the clubs their budgets for the year, and the financial board going, we can really hit the ground running,” Chesley said.last_img read more

Hot, hot and more hot.

first_imgThough there are still areas of exceptional drought, scattered showers in July reduced drought in south Georgia. But dry conditions increased in north Georgia. Hot temperatures plagued the whole state.For the sixth straight month, temperatures across Georgia were above normal. In Atlanta, the monthly average temperature was 82.4 degrees F (2.4 degrees above normal), in Athens 83 degrees (3.2 degrees above normal), Columbus 84 degrees (2 degrees above normal), Macon 83.2 degrees (2.1 degrees above normal), Savannah 84.2 degrees (2.1 degrees above normal), Brunswick 84.1 degrees (1.7 degrees above normal), Alma 83.7 degrees (1.7 degrees above normal), Valdosta 83.1 degrees (2.7 degrees above normal) and Augusta 84.5 degrees (3.7 degrees above normal). For Atlanta, this was the fifth warmest July and the fifth warmest June and July since records began in 1878. It was also the city’s second warmest February-through-July period on record. All National Weather Service stations in Georgia were in the top 12 warmest Julys and top 5 warmest June-through-July periods. Columbus had its highest ever June and July average temperature since records started in 1948. Columbus, Savannah and Alma also set record-high average minimum temperatures for June and July since records began.In spite of the continuing hot conditions, only one daily record high was broken. Augusta set a new record July 30 with 103 degrees, breaking the old record of 102 set that date in 1999. Brunswick tied its high of 99 degrees July 14, set last year.Savannah set a new record streak of 56 consecutive days of 90 degrees or greater in July. The streak began May 20 and ended July 14. The old record was 44 days set in 1993.Rain was very scattered. In contrast to June, the wettest parts of the state were in south Georgia, reducing the drought conditions there. The northern part of the state experienced less rain, and drought conditions expanded in the region.The highest monthly total precipitation from NWS reporting stations was 6.73 inches in Alma (0.72 inche above normal). The lowest was in Athens at 1.46 inches (2.95 inches below normal). Valdosta received 6.31 inches (0.12 inche below normal), Augusta 3.46 inches (0.47 inche below normal), Savannah 4 inches (2.04 inches below normal), Columbus 3.99 inches (1.05 inches below normal), Macon 4.16 inches (0.16 inche below normal), Brunswick 4.88 inches (0.07 inche above normal) and Atlanta 2.67 inches (2.45 inches below normal). The highest single-day rainfall from Community Collaborative Rain, Hail and Snow Network stations was 6.04 inches in Chatham County on Skidaway Island July 15. Two nearby observers reported 5.41 and 5.04 inches on the same day. An observer in Wheeler County reported 4.89 inches July 16. An observer in Wayne County reported 4.81 inches July 7. The highest monthly amount was 10.14 inches in Warm in Springs in Meriwether County, followed by 9.40 inches in Wheeler County.Severe weather was reported somewhere in Georgia every day in the first half of the month and on five days in the second half of the month. Most of the reports were for widely scattered and localized strong winds or small hail.Stream flows across the state continued to be low in many places, causing stress to endangered species and decreasing recreation and tourism income. Low flows on some rivers have caused fish kills due to lack of water and low oxygen levels, including Radium Springs in Albany where hundreds of fish died. Lake Lanier in northern Georgia hit its lowest level since September 20, 2009 due to evaporation and lack of runoff into the lake.last_img read more

Healing a Broken Spirit: The Running Addict

first_imgI first met Cargile while running the TransRockies Six Day Stage Race. We started talking, as you do during sustained periods on trails in the backcountry. I told him my story, and while stampeding down steep, dusty trails in the Colorado Rockies, it was his turn to share what compelled him to be out on the trails that day. He told it. Casually. Flat. Even. He learned that he’d had a seizure and had medically died, that his heart had stopped, and that he had gone into renal failure. But by an enormous stroke of luck, two EMTs happened to be on a lunch break nearby, and they saved his life. Kris Cargile thinks so. Every opportunity he gets to tell his story, he continues to experience cathartic moments of clarity, of vision, of self-love, respect. And momentum. Through trail running, he began to heal his broken spirit. The trails allowed him to reassess and reconfigure his life, loosening the tight hold that his former life had once had on him.  Things didn’t change as quickly as he hoped. Eventually, though, Cargile launched into a frenzy of recovery and sobriety.  How Kristopher Cargile turned his life around, one step at a time The second time around, he acquiesced and checked himself into a rehabilitation facility, among doctors and lawyers working through their own healing. A month later, Cargile walked out, with a sharpened ability to discern which relationships he didn’t have use for and a renewed confidence in rebuilding his life.  Is it worth a person’s livelihood, their sanity, their fragile relationships with loved ones—to recount the intimate details of such a fractured life?  The next time he was fully awake and conscious, he found himself in the ICU at Northside Hospital in Atlanta, his father hovering over his bed. He was fully intubated and tied to the hospital bed. A nurse came in and asked him if he knew where he was, along with the usual litany of questions one is asked after a cocaine overdose-induced brush with death. He knew exactly where he was, and why.  A martial arts studio was a short walk from his house. Cargile was intrigued with what he witnessed through windows, so he walked in and joined a class. He noticed that several students were part of an outdoor conditioning class trained on the trails of Sweetwater Creek and Pine Mountain. Cargile fell in love with the trails.   That’s exactly where Cargile found himself a few years ago, as he sat in a barber’s chair in Atlanta. That morning he had consumed a beer and a fairly large amount of cocaine, and minutes before he sat down for his haircut, he had run into the bathroom to do one final line of blow. In April of 2018, Cargile’s demons came crashing back into him, eventually thrusting him into an intense relapse. He now freely admits that perhaps he should have done some work around his triggers: loss and fragmented relationships. But this reentry was short lived. Twice he ended up in the psychiatric ward, pleading his case, this time in front of a doctor who happened to recognize Cargile from some races he had done. Surprised to see him, the doctor issued an ultimatum: “Clean up or go to jail.” That’s all he remembers from the barber shop. There were moments where he had awoken briefly in the back of an ambulance, facing the EMTs that had jumped his heart back to life, but that is all.  The magic of running or hiking through nature is that that any story you tell is told with the reassurance and comfort the trail gives you. The swooshing sounds of wind in the trees create a sonic reassurance that you are alive, that life continues its inevitable cycle of birth, rebirth, and death. Was this the moment of realization? Would this be the end of numerous ER visits, fights with worried parents and significant others?  While a few years ago, you may have found Cargile on the street, perhaps buying a vial of crack, right after pulling an all-nighter writing code for a big corporate company, on the verge of divorce from the partner who would encourage and augment his drug use with her own, spiraling into self-destruction, these days he is working on renovating and selling his house in Atlanta.  We met on a cold, rainy day in a bustling, upbeat coffeehouse. Amid the hectic clanging, pain darkened his face. It was a stark change from the bubbly, funny, seemingly carefree trail runner who had been one of my constant companions at a six-day stage race.  Perhaps he regretted agreeing to tell his story again, this time without the buffer of adventure. But eventually, the words come out, halting at first, but then suddenly in a rush. This time, he left out no detail, and told the story of a man whose trail running adventures were punctuated by spectacularly heavy drug use, broken relationships, and dissatisfaction with his chosen careers as a day trader and programmer.  Cargile continues to run in the North Georgia Mountains, his base for long trail running, mountain biking, and head-clearing adventures. Trail running has been essential to his journey of recovery. “The trail does something to me,” says Cargile. It offers solace and a sense of home.”last_img read more

Teen Sentenced for Drugged-driving Crash That Killed 4

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 19-year-old Queens man was sentenced Tuesday to 5-to-15 years in prison for speeding while high on marijuana and crashing his car in Malverne, killing his four teenaged passengers two years ago.Joseph Beer, of South Richmond Hill, had been convicted in June at Nassau County court of second-degree manslaughter, reckless endangerment and reckless driving.The jury was unable to reach a verdict on another charge, vehicular homicide. Beer later pleaded guilty to that charge and driving while high on drugs.Prosecutors said the teen was driving his turbocharged Subaru Impreza WRX STI more than 110 mph westbound on the Southern State Parkway when he skidded across all three lanes of traffic, drove off the road and hit a tree near exit 17N on Oct. 8, 2012.His four passengers, 17-year-old Neal Rajapa, and Darian Ramnarine, Peter Kanhai and Christopher Kahn, all 18, were killed after being thrown from the car in the crash.Beer, who only possessed a learner’s permit at the time, suffered minor injuries. He admitted to having smoke marijuana immediately before the crash.last_img read more

How To Fix A Faulty Drain Stopper In Your Sink With Alure Home Improvements

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Sponsored Content Brought To You By Alure Home ImprovementsMost of us take our sink pop-up stopper for granted—until it stops working properly. Then we get that “sinking” feeling, and nobody wants that, especially in our house’s bathroom.Fortunately, help is on the way, thanks to Alure Home Improvements’ Chief Operating Officer Doug Cornwell and this latest installment of the “60 Second Fix: How To Adjust The Pop Up In Your Sink In 60 Seconds.”As Cornwell points out, the pop-up stopper basically serves two functions.“One is to keep water in the sink, the other is to let the water out,” he says.Generally, there are two common problems with this device, Cornwell says: “One is that the pop-up doesn’t stay up so it continually falls down. The other is that it doesn’t pop up high enough.”The pop-up stopper is the knobbed rod on the sink that goes through the water faucet. When you lift it upwards, the mechanism that it’s attached to the under the sink pulls the stopper down onto the drain, forming a tight seal. And when you push the rod back down, it opens the drain stopper, letting the water out.Of course, in order to do these fixes simply, you have to take some elementary steps first. Move everything from under the sink so you have enough room to maneuver.Make sure that the horizontal pivot rod, which is attached to the sink’s drain pipe, is connected to the clevis, a flat piece of metal that connects to the vertical stopper rod and has four holes lined up vertically for one end of the horizontal pivot rod to go through.On the other end of the pivot rod is a retaining nut that holds it in place to the drain pipe. If this retaining nut is too tight, the horizontal pivot rod won’t move. But if it’s too loose, then the pivot rod won’t function the way it’s intended.As Cornwell explains, “When the water hits the stopper, it closes automatically.”Tightening the retaining nut takes a light touch, Doug advises.“You can do this with your hands,” he says. “You don’t really want to use a wrench!”Once the nut is snug, the pop-up stopper rod should stay up when you pull it up, and not slide back down when the faucet is running.Learn more about Alure Home Improvements HEREThe other common problem with the pop-up stopper takes a few more steps to correct.If the pop-up stopper doesn’t go all the way up or down when you pull on it, then the stopper won’t be open all the way or seal tightly. This situation affects how fast the water will drain from the sink.To fix it, you have to change the clevis hole that the horizontal pivot rod protrudes through. There’s a screw at the top of the clevis that lets the stopper rod slide up and down. This procedure might require a screwdriver. There may also be a clip holding the horizontal rod in place.What you need to do to remedy this problem, as Doug shows, is make sure that there’s enough room for the pop-up stopper rod to rise to the proper height above the faucet and lock in the upright position without requiring too much pressure to release. Take a look under the sink at the clevis and pick a lower hole for the horizontal pivot rod to go through so that the pop-up stopper rod is in its lowest position. The clevis screw can help you make the final adjustment once the horizontal pivot rod is in its new hole.“Set the lift rod so it’s all the way down!” Doug says.So, with a little ingenuity, and a bit of patience, another simple problem is solved right before your eyes thanks to Doug Cornwell and Alure Home Improvements!last_img read more

How Long Island Voted On Primary Night

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York In her victory speech Tuesday night in New York City, Hillary Clinton thanked New York for giving her a decisive win, but she may have well been extending her gratitude to the suburbs surrounding Manhattan, Long Island especially.While the former U.S. Secretary of State under President Obama may have won convincingly over Sen. Bernie Sanders (I-VT)—58-42 percent, to be exact—Clinton actually lost the majority of the counties in the state. But she performed extremely well in the five boroughs, several western New York cities, and in Nassau and Suffolk counties, where she carried a combined 58 percent of the vote. As for the Republican presidential primary, Donald Trump thoroughly dominated runner-up Ohio Gov. John Kasich and Sen. Ted Cruz (R-TX) across the Empire State, winning everywhere except the place where his home bares his name—Manhattan.On Long Island, the Republican race wasn’t even close. On a night when the hometown Mets crushed their opponent by 10 runs, Trump won LI in a landslide, capturing 68 percent and 72 percent of the vote in Nassau and Suffolk, respectively, with Kasich coming in a distant second in both counties. There’s not much to say about Cruz’s performance. If anything, the Texas senator learned that it’s difficult to grovel for votes after insulting an entire state and its so-called “values.” Now that Long Islanders have broken from their collective primary fever, it seems a good time to take a closer look at the results and see how the candidates fared. DemocratsIn Nassau, more than 113,000 Democrats hit the polls Tuesday, with Clinton garnering the majority of the votes. The former U.S. Senator from New York grabbed 62-percent of the vote in Nassau and dominated Sanders in the affluent communities dotting the North Shore’s Gold Coast, garnering 65 percent in the Congressional district currently represented by outgoing Rep. Steve Israel, a fellow Democrat who appeared with Clinton on the stump.Sanders competed admirably on the South Shore, but even his performance there wasn’t good enough to break Clinton’s stranglehold on the Island. Clinton won all five Congressional districts in the region. Turnout was 30 percent in both counties. RepublicansSimply put: Trump dominated. He grabbed 72 percent of the vote in Suffolk and 68 percent in Nassau—both counties in which he held events ahead of Tuesday’s primary. Kasich, the runner-up, won about 20 percent of the vote and Cruz couldn’t even crack single digits. Turnout for Republicans was about 30 percent in Nassau and 32 percent in Suffolk. Overall, Trump won the most votes on Long Island with more than 136,000 ballots cast in his favor, with Clinton coming in second with nearly 121,000 votes and Sanders in third. The race for the Democratic nomination was more hotly contested. As a comparison, Kasich, who garnered the second-most GOP votes, ended the night with barely 40,000 votes as opposed to the 83,000-plus in Sanders’ favor. Long Island Democrats cast about 10,000 more votes than did Republicans on Tuesday. So as Trump and Clinton continue their pursuit to be their party’s nominee, they can look back and thank Long Island for propelling them ever-so closer to the nomination. (Photo credit: Barbara Kinney for Hillary for America/Flickr)last_img read more

Good will is not dead in Rotterdam

first_imgCategories: Letters to the Editor, OpinionI’m so happy that good will is not dead. For many years my neighbor has cleaned the property for me and I’m grateful. While there was much traffic on my street due to a local fire, much to my amazement one young gentleman parked his car, got out and offered to finish shoveling. When I asked his name, he said “Chris,” which was my dad’s name, and that he owned Cusato’s Pizzeria on Altamont Avenue.While he finished shoveling, I spoke with his wife and daughter who were waiting patiently in the car and thanked them for their patience and Christmas kindness.He absolutely refused any payment and offered to send help if I would just call him and said I reminded him of his “nonna” (grandma).All I could offer were my grateful prayers and “Merry Christmas.” Truly, the spirit of Christmas giving goes on in this young business man of Rotterdam. Buon Natale.Helena CalvanoRotterdamMore from The Daily Gazette:Rotterdam convenience store operator feels results of having Stewart’s as new neighborEDITORIAL: Beware of voter intimidationEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen?last_img read more

Writer doesn’t get what coddling is

first_imgCategories: Letters to the Editor, OpinionRe Feb. 25 column, “Stop telling parents not to coddle their children. You wouldn’t like the alternative”: Peter Birkenhead is living in a vacuum.He seems to believe there is no such thing as coddling. Using a seat belt in a car, or a helmet on a bike; that is not coddling. Telling a child to be careful on a swing is not coddling. But telling a child that even though they lost the game that they’re winners — that’s coddling.Telling the child that when he/she fails in school that he/she shouldn’t be held back a grade or shouldn’t graduate — that’s coddling.Permitting a child to have an i-phone — that’s coddling. Allowing a child to play video games for hours — that’s coddling. Not addressing school problems or misbehavior — that’s coddling. Giving a child medication when he or she misbehaves — that’s coddling. Not sitting down to dinner as a family without the TV on — that’s coddling.Should I go on?VIRGINIA GRANEYGlenvilleMore from The Daily Gazette:EDITORIAL: Beware of voter intimidationEDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen?last_img read more

Helena Morrissey steps down as chief executive at Newton IM

first_imgThe company said that, in that new role, Morrissey would continue to be an adviser to Newton and represent it and its parent BNY Mellon Investment Management in the financial services sector.For now, Smits has been appointed to Newton’s board of directors in addition to becoming its chief executive designate.Smits’s most recent job has been that of CIO at Adams Street Partners, where she was also a member of the executive committee.Newton said Smits would be based in London and “actively involved in managing Newton’s business and focus on expanding its presence in key growth markets”.Harris said the company was extremely thankful to Morrissey for her contributions as chief executive.“Under Helena’s leadership, Newton has developed into a globally recognised asset manager and valuable BNY Mellon investment boutique, with strong investment performance across real return, fixed income, multi-asset, global and equity income strategies, along with a market-leading responsible investment proposition, all driven by the firm’s team-based investment approach,” he said.Morrissey said the time was right for her to move on to the next phase of her career.“I am looking forward to assisting Hanneke over the coming months while also continuing my roles with the Investment Association and the Financial Services Trade and Investment Board, among others,” she said.Morrissey is leaving her role as chief executive immediately, and Smits will take up the full chief executive role in due course, subject to FCA approval. Newton Investment Management has announced its long-time chief executive Helena Morrissey is stepping down from the top management role and will be replaced by Hanneke Smits.Mitchell Harris, chief executive of Newton’s parent BNY Mellon Investment Management, said: “We are thrilled to welcome Hanneke to Newton’s board of directors and as chief executive officer designate.“She has deep investment knowledge, an impressive track record of developing senior leaders and investment professionals, and proven expertise growing a global firm across developed and emerging markets.”Morrissey will become chair of the non-executive board of directors after stepping down from the chief executive role.last_img read more

AIIB, Amundi launch framework for ‘holistic’ climate change approach

first_imgA spokesperson for Amundi explained that the ambition for the framework is that it sets the benchmark for climate investing strategies looking to align themselves with the Paris Agreement, adding that the initiative would be continuously evolving.AIIB president Jin Liqun said: “In launching this framework today, we and our partners show our commitment to playing an important role in the battle against climate change, by contributing to strengthening market capacity and driving the green agenda in Asia.”A $500m (€417m) Asia Climate Bond Portfolio that the AIIB launched last year is to serve as a working model and investment case for the new framework, application of which is intended to reach all types of issuers and sectors of an economy.Encourage emergence of A-listersAccording to the AIIB and Amundi, by implementing the framework, investors could engage with so-called “B-list” issuers to boost their climate change-related credentials to “A-list” status.In a working paper, they said the cumulative number of B-list issuers engaged to enter the A-list stood as the main proxy for measuring the framework’s success and annual impact, while additional impact indicators depended on the financial instruments in a strategy’s investment universe.“The philosophy is to encourage the emergence of climate champions by highlighting the business model of top performers”Yves Perrier, CEO, AmundiSpeaking during a Climate Bonds Initiative (CBI) virtual conference this morning, Yves Perrier, CEO of Amundi, said the point of the new framework was not to “point fingers” at certain issuers or sectors, but that its philosophy was “to encourage the emergence of climate champions by highlighting the business model of top performers”.One of the benefits of the framework, according to AIIB and Amundi, is that it would enable investors from developed markets to channel capital towards emerging markets, “where the challenge of a low-carbon, climate resilient transition is greatest”.Aside from the framework’s “extra-financial impact”, AIIB and Amundi said investors could expect portfolios aligned with it to potentially benefit from future repricing of climate change risk in capital markets in the long-term.“An investment strategy targeting both A and B list issuers should be more resilient to climate change risk and more exposed to opportunities not yet priced in by the market,” they said.Sean Kidney, CEO at the CBI, which has endorsed the AIIB and Amundi framework, said: “Action on climate means action on investment and private sector involvement to create green capital markets. With this framework, AIIB and Amundi are laying a new foundation for the development and growth of climate finance and transition investment in the region.” CBI, CS transition bond frameworkThe launch of the AIIB-Amundi framework comes a day after the CBI and Credit Suisse launched a white paper presenting a framework for identifying credible Paris-aligned transition pathways for companies.The aim is to support the rapid growth of a market for transition bonds, an emerging concept and label for bonds that do not meet green bond market standards but are issued by qualifying companies in high emitting sectors whose evolution is seek as key to delivering on the goals of the Paris Agreement.The idea behind establishing a framework, as proposed by CBI and Credit Suisse, is to give investors confidence that transactions labelled as transition transactions are credible – not greenwash.Asked about the relationship between the CBI and Credit Suisse whitepaper and the Amundi and AIIB framework, the Amundi spokesperson told IPE both initiatives had the same motivation, in that every corner of the economy had to undergo a low carbon transition for the Paris Agreement goals to be met.The spokesperson added: “As with green bonds, such transition bonds are an interesting way for issuers to signal to investors that they are starting to replace carbon intensive activities with more efficient activities on their balance sheet.“From the point of [our] framework, there is the question of what we would consider as an allowable intermittent technology but this would also need to be coupled with strict issuer level commitments to using such intermittent technologies only temporarily to help their low-carbon transition.“On top of that, the issuer must be making strides in adaptation and resilience to climate change.”“We see transition bonds as being a significant game changer in terms of broadening the universe of issuers who can begin to transition towards sustainability.”Marisa Drew, chief sustainability officer and global head of sustainability strategy, finance and advisory at Credit SuisseIn their paper, CBI and Credit Suisse set out five principles for an ambitious transition, according to which all goals and pathways would need to:Align with zero carbon by 2050 and nearly halving emissions by 2030;Be led by scientific experts and not be entity- or country-specific;Be sure that credible transition goals and pathways don’t count offsets;Include an assessment of current and expected technologies which can be used to determine a decarbonization pathway;Be backed by operating metrics rather than a commitment or pledge.Marisa Drew, chief sustainability officer and global head of sustainability strategy, finance and advisory at Credit Suisse, said: “While much of the focus on the capital markets has rightly been on green and sustainability bonds, we see transition bonds as being a significant game changer in terms of broadening the universe of issuers who can begin to transition towards sustainability.”This paper represents an important milestone in the development of the sustainable finance markets and one which helps us all transition to a low-carbon economy.”Looking for IPE’s latest magazine? Read the digital edition here. The Asian Infrastructure Investment Bank (AIIB) and Amundi have launched a climate change investment framework that they say is pioneering because it seeks to “holistically assess climate change risks and opportunities in line with the three objectives of the Paris Agreement at the issuer-level”.They said the framework translated these objectives into fundamental investment metrics, “equipping investors with a new tool to assess an issuer’s level of alignment with climate change mitigation, adaptation, and low-carbon transition objectives”. According to the two organisations, current efforts to mobilise private capital to respond to climate change lacked such a holistic approach.Equity capital markets currently focussed on thematic funds and commonly faced strong sector bias, they said, while low-carbon indexes had a pronounced focus on mitigation efforts and, in fixed income, green bonds did not consider exposure to climate investment risks and opportunities from the viewpoint of an issuer’s entire balance sheet.last_img read more