SMC announces tuition increase

first_imgThe Saint Mary’s Board of Trustees recently announced a 3.85 percent increase in tuition and fees and room and board for the upcoming school year, according to a press release issued by director of media relations Gwen O’Brien.Tuition and fees are set at $35,970 and room and board will be $10,930, meaning the total cost to attend the College is now $46,900 per year, the press release stated.Vice president for finance and administration Susan Bolt said these changes happen annually when the College plans its operating budget for the coming year. Like all businesses, Saint Mary’s faces rising costs for health care, transportation, food, publications, technology and even postage, she said.Bolt said the College nonetheless commits to providing students with a high quality, affordable education and an experience that nurtures academic, spiritual and emotional development.“We look for opportunities to reduce or hold flat most expenses but also carefully assess our students’ financial aid needs so that we remain true to our mission and serve those with limited financial resources,” she said.For many students, it is more economical to attend Saint Mary’s than to enroll even at a public university, O’Brien said. Nearly one third of the operating budget is devoted to financial aid, she said.Tuition and room and board represent 80 percent of the College’s operating revenue, while the remaining 20 percent is supported by donations from alumnae and by earnings on the College’s endowment, O’Brien said.Bolt said this upcoming year’s increases are consistent with national trends.“[The changes] are benchmarked against our peers and competitors’ total cost and annual percent change,” Bolt said. “Saint Mary’s tuition and fees and room and board annual percent change and total cost was less than average for our private competitors in each of the last three years.”Business student and junior Madison Maidment said she is not surprised by the increase and does not think it will affect any of the students or incoming students in a significant way.“Tuition increases every year, which is the reality of attending private universities that are constantly improving and expanding in new directions,” Maidment said. “The financial aid office here does an excellent job working to benefit as many students as possible, and I think these changes will hopefully bring about even more generosity of our College’s endowment fund on the part of present benefactors and fundraisers.”Tags: Tuitionlast_img read more

Co-valedictorians to address 2017 College graduates

first_imgCaps off to Saint Mary’s 2017 valedictorians, Elise deSomer, a studio art and English literature double major from South Bend, and Brianna Kozemzak, a computing and applied mathematics major from Eagan, Minnesota. The two will address the Class of 2017 at this year’s Commencement on May 20.Editor’s note: Kozemzak declined to comment.DeSomer said the welcoming and accepting College campus community consistently empowered her to do her best work.“The whole women’s college ethos is something really unique that I don’t regret at all,” deSomer said. “I love how the small-campus vibe is sort of like a small town. There’s something really nice about coming to Saint Mary’s and feeling like you’re at home.”The College fosters values of accountability and respect for others through its emphasis on small class sizes, deSomer said.“I’ve really learned a strong work ethic here — how to be accountable to professors and deadlines, not just because adhering to deadlines is important in a type of capitalist way but because your professors are humans,” she said. “You have to respect the interpersonal relationships between professors and students. You have to recognize the inherent worth and dignity of other people’s time.”Students should strive to engage socially while succeeding academically, deSomer said.“My advice would be to maintain a healthy study and social balance,” she said. “It’s easy to go to extremes in the opposite direction, so just know that you have to build those memories.”Having fun in college does not necessarily have to come at the expense of earning good grades, deSomer said.“Be adventurous,” she said. “Do things with friends, but still study hard. Study on the train to Chicago or something.”Her Saint Mary’s education exposed deSomer to the harsh realities women and other vulnerable populations face, she said.“It’s completely opened my eyes to the different types of oppression that women and minorities face,” deSomer said.She said she was reminded of the enduring sisterhood the Saint Mary’s community shares when she and students she tutored at the Writing Center walked back to their dorms together after late night sessions.“It just really reinforced that at Saint Mary’s, we have each other’s backs,” deSomer said. “We look out for each other. That’s provided me with really profound bonding experiences.”Last summer, she earned a Student Independent Study and Research (SISTAR) grant to study object-oriented ontology — a philosophical analysis of existence that views objects as equal — with art professor Krista Hoefle. DeSomer said this mode of understanding the universe calls into question the power dynamics that humans learn from young ages.“It’s a way of viewing the world without hierarchies,” she said. “It’s not just saying minorities are equal to the majority, or animals [are] equal to people or plants should vote, too. It’s just thinking of things from what we call a non-anthropocentric viewpoint.”Though decentralizing the human experience can sound intimidating, doing so fosters a deeper understanding of the inherent, useful properties of seemingly ordinary objects, deSomer said.“It’s just thinking of a democracy of objects,” she said. “It’s not saying that objects have colonies, and they’re like people too. It’s not anthropomorphizing. It’s just seeing the world in more of an interconnected mesh, rather than a hierarchal structure.”She said undergoing this research project was one of the defining moments in her time at Saint Mary’s.“It was really eye-opening, because what it asks of you is to remove your way of seeing the world that you’ve had since birth,” deSomer said. “There’s a plethora of worldviews that I didn’t even consider, and that’s really gotten me to open my mind about other theories.”Working alongside a professor prepared her for potential future collaborations, deSomer said.“The learning experience of working closely with another professor really prepared me for graduate level research, and showed me how to work in a collaborative, artistic and academic environment,” deSomer said. She said she plans to take these skills with her as she prepares to take the Graduate Record Examination (GRE) while continuing to schedule appointments for her photography business, Elise imagery. DeSomer said Saint Mary’s has left a lasting impression on her mind and heart, so she looks forward to giving a valedictory address.“I’ve been given this really nice privilege to be able to represent Saint Mary’s, and that means a lot to me because I love everything that Saint Mary’s represents,” she said. “I’ll miss this place.”Tags: Elise imagery, object oriented ontology, SISTAR, valedictorian, Writing Centerlast_img read more

Mexican and European Legislators Propose Global Debate on Drugs

first_imgBy Dialogo November 30, 2011 On November 28, Mexican and European legislators called in a joint declaration to promote a global debate on the fight against drug trafficking among producing, transit, and consuming countries. At the conclusion of the 13th meeting of the European Union-Mexico Joint Parliamentary Committee in the city of Oaxaca – 460 km from the Mexican capital – the legislators issued a joint declaration in which they indicated that “the strategy of the fight against drugs has not produced the desired results on the international level.” The legislators made a commitment to “promoting a global debate involving the producing, transit, and consuming countries,” with the objective of identifying reasonable alternatives to the criminalization of the use of illicit substances and efficient methods for reducing their use, the document indicates. The amount of land destined to marijuana and coca plantations has not been reduced, despite the policies implemented in many countries against drug trafficking, the legislators said. In contrast, producing and transit countries, which were not consumers in the past, have been transformed into consumers and in some cases “have registered a significant increase in the levels of violence and social decomposition,” the document adds. The interparliamentary meeting took place at a time when Mexico faces a wave of violence that has left more than 45,000 dead since December 2006, with the majority of these homicides attributed by authorities to conflicts between drug cartels, and to a lesser extent to the military offensive launched by the government against criminal organizations.last_img read more

Peru, Bolivia Navies to Share Intelligence

first_img Colombian police dismantle gang suspected of using drug mules Bolivian Deputy Minister of Social Defense Felipe Cáceres announced the agreement on November 18. The neighboring countries will also work in cooperation to coordinate maritime drug seizes on South America’s largest lake that borders both nations. Colombian police dismantle gang suspected of using drug mules By Dialogo November 25, 2014 Peru and Bolivia have signed a joint agreement to bolster their counter-narcotics fight by allowing their naval units to share satellite information to monitor airspace over Lake Titicaca. Colombian police captured 11 of the alleged gang members in on November 18 as part of Operation Rising Sun, apprehending the leaders in Cali and the rest in undisclosed locations. They’ve been charged with trafficking, manufacturing, and possessing narcotics. Police also seized 500 capsules of narcotics, in addition to a pill-making machine. Mossos d’Esquadra agents at the Port of Barcelona confiscated 131 kilograms of methamphetamine found in a shipment of 18,000 cans of pineapple that originated in Jalisco, Mexico. The pineapple shipment was destined for Australia. The methamphetamine, which could have been broken into more than 600,000 tablets, had a street value of about $37 million (USD). The National Anti-Drug Secretariat of Paraguay (SENAD) captured alleged Israeli narco-trafficker Yaron Eli on November 20. The gang members allegedly trained drug mules to ingest narcotics or tape them to their bodies so they could successfully board flights to Hong Kong, China, Singapore and Thailand. The Prosecutor’s Office announced the death of the drug mule and the murder charges against the four suspects in a November 19 press release. The National Anti-Drug Secretariat of Paraguay (SENAD) captured alleged Israeli narco-trafficker Yaron Eli on November 20. The gang members allegedly trained drug mules to ingest narcotics or tape them to their bodies so they could successfully board flights to Hong Kong, China, Singapore and Thailand. “Today, there are fully operational contact points for the exchange of intelligence information,” Cáceres told reporters at a press conference. “It will complement our liaison officers, and we will have drug police on the side of Peru and the Bolivian side.” Bolivian Deputy Minister of Social Defense Felipe Cáceres announced the agreement on November 18. The neighboring countries will also work in cooperation to coordinate maritime drug seizes on South America’s largest lake that borders both nations. The agreement also calls for the countries to work together in 2015 to eradicate plantations of coca – the main ingredient use to make cocaine – along their border region and in Peru’s Apurimac, Ene and Mantaro River Valley (VRAEM), which is the world’s top region for coca cultivation. About half of 450 tons of cocaine produced in Perú annually is flown to Bolivia by plane before being routed to Central America, North America, Brazil, Mexico, Europe and Asia. Colombian law enforcement authorities have charged four of the suspects with murder in connection with the overdose death of a woman identified by prosecutors as “Leticia.” Law enforcement authorities did not release details of her overdose. Drug mules often ingest drugs wrapped in plastic to smuggle them to other countries, and some die when a package opens. The Mossos d’Esquadra hasn’t disclosed which drug cartel is suspected of the shipment. The Sinaloa Cartel is known for transporting drugs into Europe and Australia. The Prosecutor’s Office announced the death of the drug mule and the murder charges against the four suspects in a November 19 press release. In May, security forces captured Juan Carlos Da Rosa, the gang’s alleged leader, in Santa Cruz, Bolivia. I THINK IT’S HIGHLY POSITIVE. THERE SHOULD BE MORE INTEGRATION BETWEEN ALL THE FORCES IN CHARGE OF SUPPRESSING THE SALE AND USE OF DRUGSClodomiro Bravo Michell, attorney, Santiago-Chile The agreement also calls for the countries to work together in 2015 to eradicate plantations of coca – the main ingredient use to make cocaine – along their border region and in Peru’s Apurimac, Ene and Mantaro River Valley (VRAEM), which is the world’s top region for coca cultivation. About half of 450 tons of cocaine produced in Perú annually is flown to Bolivia by plane before being routed to Central America, North America, Brazil, Mexico, Europe and Asia. Officers arrested two suspects from Jalisco, Mexico. Police investigators traced the shipment after a local businessman opened four cans of the pineapple, which he was considering buying. When he discovered the hidden methamphetamine, the businessman notified police, who launched an investigation. In May, security forces captured Juan Carlos Da Rosa, the gang’s alleged leader, in Santa Cruz, Bolivia. Colombian law enforcement authorities have charged four of the suspects with murder in connection with the overdose death of a woman identified by prosecutors as “Leticia.” Law enforcement authorities did not release details of her overdose. Drug mules often ingest drugs wrapped in plastic to smuggle them to other countries, and some die when a package opens. Officers arrested two suspects from Jalisco, Mexico. Police investigators traced the shipment after a local businessman opened four cans of the pineapple, which he was considering buying. When he discovered the hidden methamphetamine, the businessman notified police, who launched an investigation. Eli is accused of being part of an international drug trafficking organization that smuggled narcotics into Paraguay, Brazil and Israel. He was named in an arrest warrant after SENAD, the Paraguayan National Police and Israeli security agents dismantled the drug network Eli allegedly worked with in April. That effort, “Operation Nile,” took place in the cities of Asunción, Lambaré, Ciudad del Este and Areguá. Mexican narco-traffickers trying to expand methamphetamine trade Eli is accused of being part of an international drug trafficking organization that smuggled narcotics into Paraguay, Brazil and Israel. He was named in an arrest warrant after SENAD, the Paraguayan National Police and Israeli security agents dismantled the drug network Eli allegedly worked with in April. That effort, “Operation Nile,” took place in the cities of Asunción, Lambaré, Ciudad del Este and Areguá. Mossos d’Esquadra agents at the Port of Barcelona confiscated 131 kilograms of methamphetamine found in a shipment of 18,000 cans of pineapple that originated in Jalisco, Mexico. The pineapple shipment was destined for Australia. The methamphetamine, which could have been broken into more than 600,000 tablets, had a street value of about $37 million (USD). Peru and Bolivia have signed a joint agreement to bolster their counter-narcotics fight by allowing their naval units to share satellite information to monitor airspace over Lake Titicaca. The Colombian National Police recently captured 11 alleged gang members who are suspected of using people known as “drug mules” to smuggle drugs to Asia. The biggest methamphetamine seizure in Spain’s history indicates Mexican narco-traffickers are expanding the narcotic’s trade beyond the Americas, Antoni Rodríguez, a spokesperson for the Criminal Investigation Division of the Mossos d’Esquadra, said on November 19. The Mossos d’Esquadra hasn’t disclosed which drug cartel is suspected of the shipment. The Sinaloa Cartel is known for transporting drugs into Europe and Australia. Mexican drug cartels are targeting Australia because a kilogram of methamphetamine sells there for US $215,121. That is nearly twice the amount the drug sells for in the U.S., and about 20 times the amount it would sell for in Mexico, according to the United Nations Office on Drugs and Crime (UNODC). Alleged Israeli narco-trafficker arrested in Paraguay The Colombian National Police recently captured 11 alleged gang members who are suspected of using people known as “drug mules” to smuggle drugs to Asia. Security force captured Eli in Nemby. They also arrested five alleged gang members and seized 26 kilograms of cocaine, according to SENAD. Colombian police captured 11 of the alleged gang members in on November 18 as part of Operation Rising Sun, apprehending the leaders in Cali and the rest in undisclosed locations. They’ve been charged with trafficking, manufacturing, and possessing narcotics. Police also seized 500 capsules of narcotics, in addition to a pill-making machine. The biggest methamphetamine seizure in Spain’s history indicates Mexican narco-traffickers are expanding the narcotic’s trade beyond the Americas, Antoni Rodríguez, a spokesperson for the Criminal Investigation Division of the Mossos d’Esquadra, said on November 19. Alleged Israeli narco-trafficker arrested in Paraguay Security force captured Eli in Nemby. They also arrested five alleged gang members and seized 26 kilograms of cocaine, according to SENAD. Mexican drug cartels are targeting Australia because a kilogram of methamphetamine sells there for US $215,121. That is nearly twice the amount the drug sells for in the U.S., and about 20 times the amount it would sell for in Mexico, according to the United Nations Office on Drugs and Crime (UNODC). “Today, there are fully operational contact points for the exchange of intelligence information,” Cáceres told reporters at a press conference. “It will complement our liaison officers, and we will have drug police on the side of Peru and the Bolivian side.” Mexican narco-traffickers trying to expand methamphetamine trade last_img read more

Credit Union Tech Time: YourCU.love or YourCU.sucks?

first_img 18SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Starting in July 2015, it became possible for someone to note their love (.love) or hate (.sucks) for your credit union through a website with that generic top-level domain name. In other words, it’s now possible to have a www.mycuname.love or www.mycuname.sucks website. So more than ever, it is important your credit union has a clear governance system and strategy for its online presence and identity.In the 1990s and the first years of the new millennium, managing your online presence was fairly easy. You selected a generic top level domain of .com, .net, or .org. You then determined what second level domain (i.e., mycuname) you would use. And most probably, you let your third level domain/label be “www.” If available, you also registered and configured redirect pointers for other gTLDs to your main website. For example, if you were using mycuname.org, you set up redirects for .com and .net to direct folks to your .org website.) When they later became available, you may have added .coop or .biz or .info to that list of redirects.That was then. This is now. And things are a bit more complicated.If you didn’t buy/register your .love or .sucks during the sunrise period (when trademark holders are allowed first crack at names), you are now competing with anyone willing to pay the annual fee for the name. And if your name falls in a listing of “Premium” names, that .suck registration can cost up to $2,499 per year. continue reading »last_img read more

4 powerful ways your credit union should be using LinkedIn to grow your business

first_imgUse Advanced LinkedIn Searches to Prospect & Connect with Local Business ProfessionalsWith Advanced searches on LinkedIn, Commercial Lending Officers or others interested in networking with local business professionals can easily narrow their targets with an amazing array of identifying factors. You can search with zip codes and then narrow by business size, type of business and even job title. We recommend dividing up these results and then connecting with these local people in an attempt to spread the word about you and your Credit Union and all the great services that you offer. And don’t just connect with the generic message from LinkedIn. Dig a little deeper into their profile or even search for them on Facebook and put in something that will help you more authentically connect. You can also ask a mutual connection for an introduction! Use LinkedIn Ads to Promote Your Own Original Content or Relevant WebpagesThese ads can be highly targeted based on lots of great factors as well, similar to the advanced search options. We like to narrow by zip codes, and then tailor content based on job title and/or company size. You can also target specific industries in the same manner.Make sure the content you are writing or sharing is relevant to your target audience and provides some benefit or solution to a challenge the person might be facing. You should also link to content on your website that they might find interesting and include a call-to-action for the reader to do something that will potentially move them closer to doing business with your Credit Union in the future.We work with clients regularly on all of these strategies and we also implement for them. Email us today at info@socialstairway.com for more information on how we can help your credit union achieve amazing results with online marketing! And visit our website today for more great tips: www.socialstairway.com 121SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Meredith Olmstead Meredith Olmstead is the CEO and Founder of FI GROW Solutions, which provides Digital Marketing & Sales services to Community Financial Institutions. With experience working with FIs in markets of … Web: www.figrow.com Details Help all Credit Union Employees Improve Their LinkedIn ProfilesLots of professionals still think LinkedIn is still just being used for finding a job, so obviously they don’t want to encourage their employees to be there, because they worry they will leave and find work somewhere else. In my opinion this should NOT be a huge worry for Credit Unions.First off, most CUs are GREAT places to work. So encouraging your employees to put their best foot forward online is only an advantage to you. And here’s why… Many people in sales and marketing are quickly becoming very adept at prospecting with LinkedIn. The platform is a great way to reach out to small businesses and other local professionals. If your employees have strong profiles this helps your brand look even better!Here are a few easy fixes to your profile that your employees can do RIGHT NOW:Have a nice photo and make sure all the information is up to dateMake sure their current position links to your Credit Union as the employer (And if you don’t have a company page, get to work on that immediately!!)Include Key words in your Headline/HeaderWrite a nice summary of your skills in the first personPost something at least once per weekJoin a few relevant groups that connect to your role at the Credit Union Ask Satisfied Members for Recommendations on LinkedInThis one sometimes makes people uncomfortable, but it’s essential. Recommendations add immediate credibility to any LinkedIn profile. Employees who work directly with members on business services such as loans, visas, or new accounts are already building great relationships with these people. It’s not a huge inconvenience to ask someone you’ve helped to spread the word.Sending a simple email with a link to your profile to 10 members you know well takes only 15 minutes tops, and the impact can be huge! These recommendations could be the way their personal LinkedIn connections make the decision to contact you about joining the Credit Union or taking out a loan themselves. This is just another great way to AMPLIFY positive word of mouth online.last_img read more

Olivia Culpo Talks Macy’s Collab With Sisters Sophia, Aurora

first_imgHowever, there will be many more pieces to choose from when the other two drop in December and January. “I’m actually most excited for the second and third drop, so definitely keep an eye out!”Listen on Spotify to Get Tressed With Us to get the details of every hair love affair in Hollywood, from the hits and misses on the red carpet to your favorite celebrities’ street style ‘dos (and don’ts!) – Advertisement – “My style is more reflected in the glamier pieces. Sophia’s is a little more street style-oriented. And my sister Aurora is a little bit more boho.”The first of the three drops launched on October 27, and is filled with cozy knits, chic loungewear and basically anything else you’d want to wear to feel good while working from home. “When I was coming up with designs for this it was the middle of the COVID-19 pandemic and I really didn’t think there would be a time in the near future where we’d be able to get out of the house at all.”- Advertisement – But Sophia lucked out! “When it was Sophia’s turn for prom I had actually just won Miss Universe, so Sophia wore my Miss Universe dress. So extra! The youngest always gets so spoiled,” Olivia tells Us.With that being said, Olivia understands. After all, she says she always used to sneak into Aurora’s room to try on her clothes while her big sis was out on Friday nights. “Literally just to pretend I was her. It was my favorite thing to do.”Sophia Culpo Olivia Culpo and Aurora Culpo promote their Culpo x INC line for MacysSophia Culpo, Olivia Culpo and Aurora Culpo promote their Culpo x INC line for Macys MacysSuch a love for clothes and fashion makes the sisters a natural fit for collection collaborators. “This was the first project we ever did as a family.” Though it did come with its difficulties thanks to their incredibly varied tastes, they were able to combine each of their senses of fashion to create a cohesive collection filled with something for everyone!- Advertisement – Olivia Culpo Sophia Culpo and Aurora Culpo promote their Culpo x INC line for MacysOlivia Culpo, Sophia Culpo and Aurora Culpo promote their Culpo x INC line for Macys MacysOlivia Culpo and her sisters, Aurora and Sophia, are just like Us and share their clothes. Even the former Miss Universe’s pageant dress!“For my prom I never bought anything. My mom always made me wear my older sister’s stuff,” the 28-year-old model tells Us while talking about the trio’s new Culpos x INC collection with Macys. “I always just had to wear what Aurora wore.”Olivia Culpo Aurora Culpo and Sophia Culpo promote their Culpo x INC line for MacysOlivia Culpo, Aurora Culpo and Sophia Culpo promote their Culpo x INC line for Macys Macys- Advertisement –last_img read more

CBI leaves centre for political heart

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Sokratis reveals why Unai Emery ‘needs’ Mesut Ozil at Arsenal

first_imgSokratis reveals why Unai Emery ‘needs’ Mesut Ozil at Arsenal Ozil returned – and impressed – against BATE (Picture: Getty)‘He played very good,’ Sokratis said of Ozil’s display.AdvertisementAdvertisement‘Mesut is a fantastic player and when he is fit he is one of the most important players in the team. Of course when something is not going good, everybody is there to criticise but we have to see also what Mesut did in the last years for this team.‘All the team, all the players are behind him and we need a good Mesut to go (forward) because we know that he is very important for us.‘Mesut is very important, he is a very good guy and we need him’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalEmery has grown frusrated at Ozil’s tendency to pull out of matches at late notice.The German has struggled with a back injury in recent months and had several bouts of illness.Sokratis says the problems have mounted up for Ozil but says he’s turned a corner recently.‘He was sick, he had some problems but after he came back for training,’ he said.‘Now, he is good. He did well yesterday and I hope in the next games he will go forward like this. He enjoys (himself) and we enjoy that he is with us.‘But when you are injured, it is difficult.’MORE: Cesc Fabgregas speaks out on Chelsea’s poor form since his departure from the club Comment Advertisement Mesut Ozil made just his second start of 2019 on Thursday (Picture: Getty)Sokratis Papastathopoulos insists Arsenal ‘need’ Mesut Ozil because when he’s fit he’s ‘one of the most important players’ in the team.The German made just his second start of 2019 in Arsenal’s 3-0 win against BATE Borisov on Thursday night.The 30-year-old was told he could leave the club in January but he’s keen to stay in London and knows his £350,000-a-week wages are unlikely to be matched elsewhere.Emery dampened talk that Ozil’s return on Thursday was a turning point but Sokratis insists the club ‘need’ the German.ADVERTISEMENT Metro Sport ReporterFriday 22 Feb 2019 2:40 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link402Shares Advertisementlast_img read more

IPE Views: Seeing climate change ‘actions’ for what they are

first_imgThese days, with climate change an ever more prominent issue for institutional investors, it is easy to get excited about the different initiatives and announcements that hit our screens on a regular basis. It’s important to see them for what they are, and to not conflate managing the risks and opportunities of climate change with action to mitigate it.The press release that landed in my inbox on Friday is a perfect example. It had all the ingredients of a classic “ESG” news story. There were the big, powerful investors – six named sovereign wealth funds, including Europe’s largest, Norges Bank Investment Management – and the buzzwords: climate change, long-termism, value creation, sustainability, transition risk, physical risk… But again, read the text and it is clearly about understanding, managing and reporting on the financial implications of climate change, which the framework depicts as a development or phenomenon the investors are powerless to affect.Engaging with companies is mentioned, but there is no commitment to do so – “SWFs may wish to engage” – and the objective is not to effect any change, but “to understand” aspects such as “the risk and opportunities associated with the climate change issues that the Paris Agreement is seeking to address”.A contact at a climate finance think tank tells me: “Implicit perhaps in the framework is the idea that climate risk management frameworks contribute to shifting capital allocation, but this is indeed not a given. Managing risks and having an impact in the real economy are indeed not the same thing.”Getting a group of major sovereign wealth funds with very different perspectives and political backgrounds to back such an initiative is no mean feat and could have an important signalling effect.Also, the communication about the framework does not pretend to be about trying to change the course of man-made climate change. The language is quite clearly about risk management and analysis – and, yes, opportunities.More powerful investors using their influence to push for more and better data and showing climate change is on their radar is a good thing. The “ESG space” is a broad church, harbouring investors that want to manage change as well as those who want to effect change. Given the types of issues dealt with in this field – from human rights to climate change – asset owners, asset managers and advocacy groups should be clear about their objectives.The framework can be found here. The six-strong group of major sovereign wealth funds has produced a framework on climate change to promote the integration of climate change analysis into the management of large, long-term and diversified asset pools, as I wrote on Monday.The question in my mind was – as it often is when presented with such initiatives – was this going to be about managing the investment impacts or implications of climate change, or addressing climate change itself? As objectives or motivations, the two are quite distinct.I found very little in the framework to indicate this was about the sovereign wealth funds seeking to actively contribute to the fight against climate change.There are some parts of the framework that come close to this, such as the section on “ownership”, where the document sets out the sovereign wealth funds’ expectations of companies.last_img read more