January 20, 2021

Editorial: What a Smart Energy Transition Must Look Like

first_img FacebookTwitterLinkedInEmailPrint分享From the Akron Beacon Journal:Consider that today roughly 70,000 people work in the coal industry while 88,000 work in wind power. Note that Warren Buffett and Berkshire Hathaway have plowed $15 billion into wind farms. The coal industry will be affected adversely by the Clean Power Plan of the federal Environmental Protection Agency. Yet employment in the industry already has suffered, especially going back to the 1980s, and not because of regulation for the most part.Coal mining has become more efficient, employment levels declining nearly 90 percent since the 1920s, even as production nearly doubled.Add the recent glut of natural gas, driven by new discoveries in this part of the country and the expansion of hydraulic fracturing. Amazon wants to see its storage facilities powered by renewable sources. Other companies have joined in seeking reduced emissions and lower prices, alert to climate change and the company bottom line.Thus, right here in Ohio, you can see the shift, from coal mining to jobs in natural gas and renewable energy. That is how a dynamic economy works, and Hillary Clinton, for all the grief she has taken, outlined what a smart transition must look like.Contrast what Clinton said with the words of Donald Trump during a recent stop in West Virginia: “We’re going to get those miners back to work,” adding: “The miners of West Virginia and Pennsylvania … Ohio and all over are going to start to work again, believe me.” Not in coal mines, short of an economic miracle. The Trump “guarantee,” in its way, reflects what is so discouraging about our political conversation. It is a formula for disappointment, promise big, then fail to deliver.Full item: Why coal faces hard times, and Hillary Clinton deserves better Editorial: What a Smart Energy Transition Must Look Likelast_img read more

Posted in jovrhsoqrepxTagged ,,,,,,,,,,,Leave a Comment on Editorial: What a Smart Energy Transition Must Look Like

Desfossés to leave €30bn French public service pension fund

first_imgPhilippe Desfossés, the chief executive of ERAFP, France’s €30bn public service pension fund, is due to leave the scheme in December, a spokeswoman has confirmed.He has held the post since 2008. The decision to appoint a successor to Desfossés is understood to have been announced at a meeting of the pension fund’s board of trustees at the end of June.The chief executive officer at ERAFP is appointed jointly by the government ministers for public service, the budget and social security.  The spokeswoman for ERAFP, which manages the mandatory pension scheme for around 4.5m civil servants, said it did not yet have official information about Desfossés’ replacement but his departure had been confirmed.Desfossés’ appointment was last renewed in 2013. IPE understands he had indicated wanting to continue in the role beyond 2018. His departure comes at a time of a sweeping pensions reform in France. The government wants to establish a universal system to replace the country’s many mandatory retirement schemes – there are more than 40 – and is currently laying the groundwork for this by way of an extensive consultation process being led by Jean Paul Delevoye, the high commissioner for the pension reform.ERAFP, which is a fully funded scheme in a predominantly pay-as-you-go system, comes under this reform and is supposed to be absorbed by the universal system.The government is also reforming private pensions savings within the framework of the “Pacte” law, which was adopted by the lower house of parliament earlier this month.Desfossés has been a strong advocate of responsible investment and the need for pension funds to take account of climate change. He has been vice chair of the Institutional Investors Group on Climate Change since 2016.He started his career in the French treasury, within the ministry of economy and finance, but also has private sector experience. He worked at AXA Group from 1998 to 2006 and then at Eli Lilly France.last_img read more

Posted in jagoottgwjkcTagged ,,,,,,,,,,,Leave a Comment on Desfossés to leave €30bn French public service pension fund