Insurance company Mapfre to stop underwriting new coal mines and power plants

first_imgInsurance company Mapfre to stop underwriting new coal mines and power plants FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Global insurance group Mapfre SA will no longer underwrite construction of coal mines and coal-fired power plants or invest in electric utilities that derive at least 30% of their revenue from coal-produced energy, the company announced during its annual general meeting March 8.One-third of the global reinsurance market has restricted cover for coal projects, according to a December 2018 report from the U.S.-focused arm of the international Unfriend Coal campaign, which has been pushing European insurers away from coal and other fossil fuels.Lucie Pinson, European coordinator for Unfriend Coal, in a news release called the announcement “woefully short of the action necessary to completely phase out coal in Europe by 2030” because it did not mention plans for restricting coal infrastructures, divesting shareholdings or applying the policy to its reinsurance business.Mapfre companies in Spain and Portugal are expected to be carbon-neutral by 2021, when carbon emissions from the insurance company will be reduced by 61%, a Mapfre release said.Mapfre joins Vienna Insurance Group AG, Generali, Munich Re Co., Swiss Reinsurance Co. Ltd., Allianz SE, Zurich Insurance Group AG, Scor SE and Axa in backing away from coal investing.More ($): Global insurer Mapfre to stop underwriting new coal projectslast_img read more

Top 3 reasons to nominate someone for a Herb Wegner Memorial Award

first_imgThe National Credit Union Foundation’s annual Herb Wegner Memorial Awards represent the highest national honors in the credit union system. Each year, the Foundation honors individuals and a program/organization who has done outstanding work in the credit union system to improve people’s financial lives through credit unions.Last year was a memorable event, as we celebrated not only outstanding individuals and a program, but it was the largest attendance in history with over 900 credit union professionals from around the US – and the world! There may be people that you work with, an organization you are a part of, or a program that you have used that is worthy of being celebrated and honored at the 2018 Wegner Awards. If you’re not sure, here are three reasons to nominate someone for the award:An individual has significant achievements that fulfill the mission of promoting financial freedom for people everywhere.An organization or program has provided innovative concepts, products, and/or services that have had a significant impact on the credit union movement.They deserve to have their achievements recognized in front of hundreds of credit union professionals from around the world. You can get inspired by all the past winners by clicking here. If you know an individual or a program that is deserving of an award, nominate them today for a Herb Wegner Memorial Award so we can celebrate them in Washington, DC on February 26, 2018.The Herb Wegner Memorial Awards help to invigorate passion for the credit union movement, and we hope you nominate those who inspire you to make a difference in the lives of our credit union members. 44SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Lacey Yasick Lacey is the Communications Manager for the National Credit Union Foundation. She works to develop and execute all communication efforts that support the Foundation’s national programs and engagement strategy.Lacey … Web: Detailslast_img read more

CUNA applauds FHFA efforts to address pre-launch UMBS concerns

first_imgCUNA applauds the Federal Housing Finance Agency (FHFA) efforts to address investor concerns surrounding the Uniform Mortgage-Backed Security (UMBS) before the security is launched in the to-be-announced market on June 9, 2019.  CUNA filed its letter with the agency Thursday in response to a proposed rule on the uniform security.“Given the importance of the TBA market to credit unions and their members, CUNA is pleased that the FHFA has released proposed regulation in advance of the UMBS launch date that seeks to establish a procedure for addressing investor concerns about the potential for price variation between the entities’ offerings due to misalignments in their activities,” the letter reads.“Because a key component of CUNA members’ Credit Union Principles for Housing Finance Reform is ensuring that the transition from the current system to any new housing finance system is reasonable and orderly, we encourage the Agency to continue its efforts and fully address stakeholders’ concerns prior to requiring the GSEs to launch the UMBS,” it adds. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Indonesia reports 81 new COVID-19 cases, death toll rises to 38

first_imgThe government, Yurianto said, had been preparing to import chloroquine drugs. Yurianto claimed the medication was potent against COVID-19, although no medicine has been clinically proven to cure the disease. However, medical personnel in several countries have been using the drugs to treat the disease’s symptoms in patients.“Chloroquine is used to treat [the disease’s symptoms], not prevent it; therefore, people should not hoard chloroquine,” the spokesperson said.He went on to say that the government had prepared more than 12 million surgical masks and 81,000 N95 masks for hospitals treating COVID-19 patients. “Hospitals needing such equipment should make a formal request to the local health agency.”Yurianto urged people to stay at home and maintain social distancing from others to prevent possible virus transmission. (mfp)Topics : Other regions recording spikes in the number of positive cases were West and East Java with 41 and 11 new ones, respectively.“We have given all this data to the heads of provincial health agencies, who forwarded the data to the hospitals where these patients are being treated,” Yurianto said during a broadcasted press briefing on Saturday.“The data has also been used by health offices in every district as material for contact tracing.”He added that the contact tracing efforts would be followed by rapid testing, which could show results in minutes. The tests, however, were only used for preliminary detection of whether a person had been infected by the coronavirus. Indonesian health authorities have recorded another spike in the number of COVID-19-positive cases in the country, as the government announces 81 new ones on Saturday, with a total of 450 reported nationwide.Health Ministry Disease Control and Prevention Director General Achmad Yurianto said the number of fatalities caused by the disease had also increased to 38, compared to 32 on the previous day. Meanwhile, 20 people had recovered from the disease so far.Yurianto, also the government’s spokesperson for COVID-19-related matters, said Jakarta still recorded the highest increase of positive cases with 44, with the number of positive cases in the capital city becoming 267. Authorities reported 23 people had died of the disease in Jakarta.last_img read more