Leading green bond firm threatens State Bank of India over support for Australian coal mine

first_img FacebookTwitterLinkedInEmailPrint分享Reuters:Amundi said it has warned the State Bank of India it will evict one of the lender’s green bonds from a flagship fund if it helps finance a coal mine in Australia that has met fierce opposition from environmental groups. Amundi, which holds the bond in its Amundi Planet Emerging Green One fund, said it had learnt this week that the Indian bank was considering financing the Carmichael thermal coal mine in Australia.Carmichael has drawn strong opposition from climate campaigners because of the potential carbon emissions that would be produced by the mine, at a time when many countries are exiting coal to help fight global warming.Under pressure from investors, a string of banks and insurers have already cut ties to the project, with the most recent being Lloyd’s insurer Apollo.Amundi’s Jean Jacques Barberis, Director of the Institutional and Corporate Clients division & ESG, said the asset manager had contacted the bank to voice its concern and followed up with a letter to the management on Thursday.The Amundi fund – the largest aimed at green bonds in the emerging markets – looks to invest in bonds that help fund environmentally friendly projects, but also looks at the issuer to make sure its other activities are “coherent”.“We consider SBI should not finance this project. It’s their decision, ultimately, but we’ve been extremely clear on the fact that, if they decide to do it, we would immediately disinvest,” said Barberis. Financing the mine would be in “total contradiction” to the SBI activities financed through its green bond, he added. “We have engaged SBI, asking them not to participate (in the loan)… and now we are waiting for their answers.”[Simon Jessop]More: Amundi gives bond warning to State Bank of India over coal mine Leading green bond firm threatens State Bank of India over support for Australian coal minelast_img read more

Vikings’ Kirk Cousins signs two-year contract extension

first_imgCongrats to @KirkCousins8 on agreeing to a 2 year extension with the @Vikings— Mike McCartney (@MikeMcCartney7) March 16, 2020According to a report from Ian Rappoport, the deal is worth $66 million over two years, bringing his contract to $96 million over three seasons. He reportedly is guaranteed $61 million at signing.MORE: NFL free agent tracker — Rumors, reports and more prior to the start of free agencyCousins is coming off a year in which he threw for 3,603 yards and 26 touchdowns to just six interceptions, though that yardage is a bit deceiving, considering the Vikings were a run-first team in 2019 and their offense was carried largely on the back of Dalvin Cook. Cook had more than 1,600 scrimmage yards in 2019, with 1,135 of those yards coming on the ground in 14 games.This season resulted in Cousins’ second Pro Bowl appearance; his original deal was scheduled to expire following the 2020 season. Kirk Cousins’ favorite colors must be purple and green.The Vikings starting quarterback, who signed a massive, $84 million deal prior to the 2018 season, is staying in Minnesota for another two years, per his agent. Drafted by the Redskins in the fourth round of the 2012 NFL Draft, Cousins worked his way from backup to starter, eventually parlaying his success into the NFL’s first ever fully guaranteed deal. The bidding reportedly came down between the Vikings and Jets, and the former Michigan State Spartan chose Minnesota.Cousins also helped lead the Vikings to their first playoff win in two years, losing to the eventual NFC Champion 49ers in the divisional round this past playoff season.When finalized and official, it will be the Vikings’ first big move in what could be a busy offseason. It could include the trade of Stefon Diggs, who is reportedly on the trading block following a season in which he set a career-high in receiving yards. He has yet to notch a double-digit touchdown season in his career.last_img read more