"Some labor and struggle hard to earn forgiveness, but better than these is the man who forgets the wrongs done to him. Forgive quickly and you will be abundantly forgiven. To forget wrongs is to prove oneself truly repentant, but to brood on them and at the same time to imagine one is practicing repentance is to act like the man who is convinced he is running when in fact he is fast asleep." -- St. John Climacus, The Ladder of Perfection
Thinking about ethics and current events (Began 1 April 2008)
Tuesday, May 31, 2011
Germans Exit Nuclear Energy
Germany announced Monday it would become the biggest industrial power to completely give up nuclear energy following the crisis at the Fukushima plant in Japan, saying that all nuclear reactors would be shut by 2022. The announcement caps a startling reversal in which Chancellor Angela Merkel was strongly in favor of nuclear power before she was against it. Yet coming after weeks of discussions, “the German government has made it clear that it is serious with its U-turn on nuclear energy,” notes Der Spiegel.
After a long night of talks, Germany’s Environment Minister Norbert Roettgen announced the details of the plan that would force all of the country’s nuclear plants to go offline by 2022 at the latest. Specifically, the seven plants that were shut down after the Fukushima disaster in Japan and one that had already been taken offline would remain shut. Six would then go offline by the end of 2021 and the three most modern plants would have until 2022 to be shut, according to a plan outlined by Roettgen. The agreement “may be even more ambitious than the nuclear exit planned when the Social Democrats (SPD) and Greens were in power in 2000,” details Reuters.
Read it all here.
After a long night of talks, Germany’s Environment Minister Norbert Roettgen announced the details of the plan that would force all of the country’s nuclear plants to go offline by 2022 at the latest. Specifically, the seven plants that were shut down after the Fukushima disaster in Japan and one that had already been taken offline would remain shut. Six would then go offline by the end of 2021 and the three most modern plants would have until 2022 to be shut, according to a plan outlined by Roettgen. The agreement “may be even more ambitious than the nuclear exit planned when the Social Democrats (SPD) and Greens were in power in 2000,” details Reuters.
Read it all here.
Monday, May 30, 2011
Yemen Forces Attack and Kill Protesters
 |
| Security forces raided the protesters' camp in Taiz, killed dozens of people and inured hundreds. AFP |
The loyalist soldiers attacked the square from all directions and gunmen in police and plain clothes shoot at protesters from the roofs of surrounding buildings.
The raid terrified local residents and thousands of protesters have fled the square after many of their tents were burned by security forces.
An unknown number called the Yemen Times correspondent in Taiz, threatening to kill him if he reported on any of the events that took place Sunday night in Taiz.
Until now, there are no accurate numbers of protesters killed or injured as the security forces have also stormed protest camp field hospital and the Al-Safwa Private Hospital, seizing dead bodies as well as some injured protesters.
Televisions and satellites inside the camp were also confiscated by the security forces. Two cars belonging to protesters have been burned by police and plainclothes gunmen.
In retaliation to this fierce raid against the protesters, a group of demonstrators burned two government vehicles found in the area.
Currently, armed clashes are erupting between supporters of Hamoud Al-Mikhlafi, an opposition parliamentarian from the Islah party and security forces in front of the security administration building of the Cairo district, only 20 meters distant from Freedom Square.
Source: Yemen Times
Dr Khan Overly Confident on Paki Nukes?
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| Answering a question about safety of the nuclear assets, Dr Khan said neither the Taliban nor any external force could seize them because of a “highly secured system which has been improved gradually.” - Photo by Reuters ISLAMABAD: The country’s nuclear programme has been “running without any break” for the past 10 years and the process of uranium enrichment is in progress, too, Dr Abdul Qadeer Khan claimed in an interview with Dawn on Saturday. “Although I have not been associated with the programme for the past 10 years, I know that it has been running without any break and the process of uranium enrichment is in progress,” the nuclear scientist said. He said although the departments concerned were not giving “final shape to new nuclear weapons”, the material was being prepared and they could be assembled any time if required. Answering a question about safety of the nuclear assets, Dr Khan said neither the Taliban nor any external force could seize them because of a “highly secured system which has been improved gradually." He said the county’s nuclear assets were safe from day one and no country should be worried about them. “We know how to protect our strength (nukes),” he said in reply to a question about statements from Washington and New Delhi that terrorists could seize Pakistan’s nuclear arsenals. He said nuclear weapons were not stored at one place and very few people knew about their location. “You can count these people on fingers who exactly know about the location of nuclear arsenals,” he said. Most of the nuclear weapons made by the Khan Research Laboratories and other departments concerned had been handed over to the military authorities and the practice still continued. “These weapons are lying in tunnels and safe houses where no one can access them, except very few relevant people,” Dr Khan said. In reply to a question, he said Zulfikar Ali Bhutto had made the security system of the country’s nuclear programme and nuclear assets foolproof and with the passage of time Gen Ziaul Haq, Gen Mirza Aslam Beg and Gen Abdul Waheed Kakar further beefed up security around them. “Finally the Strategic Plans Division upgraded the system, making it inaccessible to any one inside and outside the country,” he said. Asked if the country’s nuclear programme was running satisfactorily, Dr Khan said it was running well. In reply to another question, the nuclear scientist said he often moved out of his residence because he had no fear about his security. “I have faith in Allah because no one can harm me if He protects me.” From here. |
San Francisco Proposed Bann on Circumcision
Here's a piece of proposed legislation that will meet with resistance and if it become effective will certainly be contested in the courts. Lloyd Schofield, a resident of San Francisco, that bastion of politically-correct non-thinkers, wants to ban circumcision for males under age 18. Religion be damned! Health considerations? Humph!
Here's the report from BioEdge:
"Males need protection as females do," said Lloyd Schofield, the main sponsor for a local ballot measure in San Francisco that - if passed by voters in November - will effectively ban circumcision of males under the age of 18 in the city. A federal law and a number of state equivalents ban circumcision of girls, even for religious reasons. "Intactivists" like Mr Schofield ask, why not boys?
Circumcision arrived in America mainly as a Victorian British fad - which originally purported to aim at discouraging masturbation and nocturnal emissions. It spread during the 20th century, becoming almost universal by the 1960s. It has declined over recent decades, however, to about half of baby boys in 2008. The procedure's medical benefits are disputed - but evidence suggests that male HIV infection rates can be reduced by circumcision. Intactivists, however, counter that this does not justify what they label the amputation of a body part from infants who might never be at risk of HIV infection.
If the measure passes, circumcision would be punishable by a fine of up to $1,000 or up to one year in prison. There would be no religious exceptions. "Parents are really guardians, and guardians have to do what's in the best interest of the child. It's his body. It's his choice," Mr Schofield said. He argues that circumcision is a more invasive medical procedure than many new parents or childless individuals realise.
Many Jews in San Francisco are outraged at what they regard as an attack on religious freedom. Rabbi Gil Yosef Leeds, of Berkeley, a "mohel" who performs ritual circumcisions, says, "For a city that's renowned for being progressive and open-minded, to even have to consider such an intolerant proposition ... it sets a dangerous precedent for all cities and states."
Mr Schofield is glad that many Jews signed his petition. Some have begun carrying out an alternative ceremony known as "brit shalom" - the "covenant of peace" - which does not involve cutting.
See also Economist, May 19; Working to Outlaw Infant Circumcision
Sunday, May 29, 2011
Youth Enter Pro-Life Statement at UN
Pro-life Statement Enters UN Youth Fray
By Amanda Pawloski
NEW YORK, May 26 (C-FAM) As negotiations begin this week on the initial draft resolution of the upcoming youth conference, a growing international youth coalition submitted a pro-life statement to the UN.
The draft resolution on youth and the pro-life statement are an indication of divided opinions that will manifest in the July conference to celebrate the end of the UN International Year of Youth.
The UN youth document presents a negative state of youth in the world, focusing on young people as impoverished, unengaged, and intolerant. In contrast, the pro-life statement contains an optimistic appraisal of the potential that young people have to participate in development.
In little more than three pages of the initial draft resolution on youth there are no less than nine references to the World Program of Action for Youth (WPAY). This program of action has controversial language on sex education, sexual and reproductive rights, and contested interpretations of gender.
Read it all here.
By Amanda Pawloski
NEW YORK, May 26 (C-FAM) As negotiations begin this week on the initial draft resolution of the upcoming youth conference, a growing international youth coalition submitted a pro-life statement to the UN.
The draft resolution on youth and the pro-life statement are an indication of divided opinions that will manifest in the July conference to celebrate the end of the UN International Year of Youth.
The UN youth document presents a negative state of youth in the world, focusing on young people as impoverished, unengaged, and intolerant. In contrast, the pro-life statement contains an optimistic appraisal of the potential that young people have to participate in development.
In little more than three pages of the initial draft resolution on youth there are no less than nine references to the World Program of Action for Youth (WPAY). This program of action has controversial language on sex education, sexual and reproductive rights, and contested interpretations of gender.
Read it all here.
ESG Reduces Investment Risk and Yields Profits
By Ron Robins, Founder & Analyst - Investing for the Soul
When I started my career as an investment analyst in 1970, the idea that a company’s environmental and social activities would be important in helping predict its future financial and stock performance was seen as largely irrelevant. Well, not anymore!
Inclusive of governance issues and abbreviated as ESG (environmental, social and governance), factors pertaining to ESG are now included in mainstream corporate stock and bond analysis in numerous investment firms, funds and managers globally. Why? Because it provides analysts better insight into companies and a possibility of producing higher investment returns with less risk.
ESG has its beginnings in ethical and socially responsible investing (SRI), which have their roots in some religious traditions. Now, with mounting environmental and climate change concerns, ‘green’ or sustainable investing has emerged. It was with these asset classes that ESG issues first began to play a pivotal role. However, ESG issues are now becoming a significant factor in all asset classes.
Evidencing the enormous shift towards inclusion of ESG issues in investment analysis among global financial institutions, were the findings reported in a September 14, 2010, press release of the United Nations (UN) Principles for Responsible Investment (PRI). The PRI is a “ …framework to help investors achieve better long-term investment returns and sustainable markets through better analysis of environmental, social and governance issues in investment process and the exercise of responsible ownership practices.” Companies sign on as signatories to the PRI framework.
In the PRI press release, Executive Director James Gifford said, “every large, world-class listed company is now monitoring and reporting on its ESG performance, and so too are an increasing number of investors.” The PRI reported that, “total [PRI] signatory numbers… has jumped in the last year by more than 30 per cent… The value of the assets under management of PRI signatories now stands at $22 trillion, over 10 per cent of the estimated total value of global capital markets…”
Continuing, “signatories are now drawn from 45 countries… Over 95 per cent of asset owners and 87 per cent of investment managers have an overall investment policy that addresses ESG issues... The percentage of asset owners involved in dialogue with regulators on ESG issues rose to 85 per cent.”
And governments and regulators everywhere are listening. Countries that are taking big steps in promoting ESG issues in corporate reports include the USA, the UK, France and Sweden. Also, the European Union might soon have a policy for all member countries on ESG corporate reporting as well.
Even stock exchanges are becoming proactive on ESG issues concerning their listed companies. For instance, in South Africa, the Johannesburg Stock Exchange became the first exchange to require all listed companies to produce fully integrated financial and ESG reports. In Malaysia, its major stock exchange, the Bursa Malaysia, actively pursues ESG reporting among its listed companies.
As a result of such interest, especially by global investment institutions and individual investors, ESG stock and bond indexes are becoming commonplace everywhere. All the major stock/bond index producers—Dow Jones, FTSE, MSCI, S&P etc.—have global, continental, country and often even industry specific ESG stock indexes.
Encouraging the ESG cause are studies demonstrating improved financial, portfolio and stock performance where ESG factors are analytically applied. One study, published in March 2009 is by risklab, a division of Allianz Global Investors. It is “… a landmark study [that] strengthens the position of ESG advocates. The results reveal that a focus on ESG (environmental, social and corporate governance) factors can significantly reduce portfolio risk or enhance returns. The study… is the first systematic quantitative analysis explicitly examining ESG risk in a portfolio context… [it] concludes that investors ‘not only have a right to feel good about promoting ESG, but that clear financial benefits can be expected.”
Another study finds that, “… [ESG] improves portfolio diversification through a reduction of the average stock’s specific risk …ESG criteria probably leads best-in-class ESG screened funds to be better diversified than otherwise identical conventional funds… pension funds should at least contemplate about the use of ESG criteria, as an ignorance of ESG criteria could violate their fiduciary risk management duties.” (From, Portfolio Diversification and Environmental, Social or Governance Criteria: Must Responsible Investments Really Be Poorly Diversified? By Andreas G. F. Hoepner of the University of St. Andrews, School of Management, Principles for Responsible Investment, UN.)
And a third study also by risklab, reported in Global Pensions on April 18 found that ESG can reduce the risk of negative or ‘tail’ risk impacts on portfolios in emerging as well as developed markets. “ … The tail risk of an ESG risk neutral emerging market equity strategy defined by the MSCI Emerging Markets Index can be reduced from -64.5 per cent p.a. to -38.8 per cent. The same is true for corporate bonds defined by the Merrill Lynch Global Broad Market Corporate Index, it added, where the tail risk—measured as conditional value at risk (95 per cent) of the default strategy—can be reduced from -8.1 per cent p.a. to -4.9 per cent... [and for developed market equity, the] tail risk optimisation potential of the ESG neutral default strategy defined by the MSCI World Equity Index [went down] from -38.1 per cent p.a. to -25.7 per cent.”
With increasing social, environmental and climate change risks, it makes dollars and cents to now include ESG issues in investment decisions. And that is why asset managers and investors everywhere are adopting ESG criteria in the selection of individual stocks and bonds as well as aiding in their structuring of entire portfolios.
copyright alrroya.com
E-mail the writer: r.robins@alrroya.com or comment here.
When I started my career as an investment analyst in 1970, the idea that a company’s environmental and social activities would be important in helping predict its future financial and stock performance was seen as largely irrelevant. Well, not anymore!
Inclusive of governance issues and abbreviated as ESG (environmental, social and governance), factors pertaining to ESG are now included in mainstream corporate stock and bond analysis in numerous investment firms, funds and managers globally. Why? Because it provides analysts better insight into companies and a possibility of producing higher investment returns with less risk.
ESG has its beginnings in ethical and socially responsible investing (SRI), which have their roots in some religious traditions. Now, with mounting environmental and climate change concerns, ‘green’ or sustainable investing has emerged. It was with these asset classes that ESG issues first began to play a pivotal role. However, ESG issues are now becoming a significant factor in all asset classes.
Evidencing the enormous shift towards inclusion of ESG issues in investment analysis among global financial institutions, were the findings reported in a September 14, 2010, press release of the United Nations (UN) Principles for Responsible Investment (PRI). The PRI is a “ …framework to help investors achieve better long-term investment returns and sustainable markets through better analysis of environmental, social and governance issues in investment process and the exercise of responsible ownership practices.” Companies sign on as signatories to the PRI framework.
In the PRI press release, Executive Director James Gifford said, “every large, world-class listed company is now monitoring and reporting on its ESG performance, and so too are an increasing number of investors.” The PRI reported that, “total [PRI] signatory numbers… has jumped in the last year by more than 30 per cent… The value of the assets under management of PRI signatories now stands at $22 trillion, over 10 per cent of the estimated total value of global capital markets…”
Continuing, “signatories are now drawn from 45 countries… Over 95 per cent of asset owners and 87 per cent of investment managers have an overall investment policy that addresses ESG issues... The percentage of asset owners involved in dialogue with regulators on ESG issues rose to 85 per cent.”
And governments and regulators everywhere are listening. Countries that are taking big steps in promoting ESG issues in corporate reports include the USA, the UK, France and Sweden. Also, the European Union might soon have a policy for all member countries on ESG corporate reporting as well.
Even stock exchanges are becoming proactive on ESG issues concerning their listed companies. For instance, in South Africa, the Johannesburg Stock Exchange became the first exchange to require all listed companies to produce fully integrated financial and ESG reports. In Malaysia, its major stock exchange, the Bursa Malaysia, actively pursues ESG reporting among its listed companies.
As a result of such interest, especially by global investment institutions and individual investors, ESG stock and bond indexes are becoming commonplace everywhere. All the major stock/bond index producers—Dow Jones, FTSE, MSCI, S&P etc.—have global, continental, country and often even industry specific ESG stock indexes.
Encouraging the ESG cause are studies demonstrating improved financial, portfolio and stock performance where ESG factors are analytically applied. One study, published in March 2009 is by risklab, a division of Allianz Global Investors. It is “… a landmark study [that] strengthens the position of ESG advocates. The results reveal that a focus on ESG (environmental, social and corporate governance) factors can significantly reduce portfolio risk or enhance returns. The study… is the first systematic quantitative analysis explicitly examining ESG risk in a portfolio context… [it] concludes that investors ‘not only have a right to feel good about promoting ESG, but that clear financial benefits can be expected.”
Another study finds that, “… [ESG] improves portfolio diversification through a reduction of the average stock’s specific risk …ESG criteria probably leads best-in-class ESG screened funds to be better diversified than otherwise identical conventional funds… pension funds should at least contemplate about the use of ESG criteria, as an ignorance of ESG criteria could violate their fiduciary risk management duties.” (From, Portfolio Diversification and Environmental, Social or Governance Criteria: Must Responsible Investments Really Be Poorly Diversified? By Andreas G. F. Hoepner of the University of St. Andrews, School of Management, Principles for Responsible Investment, UN.)
And a third study also by risklab, reported in Global Pensions on April 18 found that ESG can reduce the risk of negative or ‘tail’ risk impacts on portfolios in emerging as well as developed markets. “ … The tail risk of an ESG risk neutral emerging market equity strategy defined by the MSCI Emerging Markets Index can be reduced from -64.5 per cent p.a. to -38.8 per cent. The same is true for corporate bonds defined by the Merrill Lynch Global Broad Market Corporate Index, it added, where the tail risk—measured as conditional value at risk (95 per cent) of the default strategy—can be reduced from -8.1 per cent p.a. to -4.9 per cent... [and for developed market equity, the] tail risk optimisation potential of the ESG neutral default strategy defined by the MSCI World Equity Index [went down] from -38.1 per cent p.a. to -25.7 per cent.”
With increasing social, environmental and climate change risks, it makes dollars and cents to now include ESG issues in investment decisions. And that is why asset managers and investors everywhere are adopting ESG criteria in the selection of individual stocks and bonds as well as aiding in their structuring of entire portfolios.
copyright alrroya.com
E-mail the writer: r.robins@alrroya.com or comment here.
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