East African Breweries Limited (EABL.ke) HY2010 Presentation

first_imgEast African Breweries Limited (EABL.ke) listed on the Nairobi Securities Exchange under the Beverages sector has released it’s 2010 presentation results for the half year.For more information about East African Breweries Limited (EABL.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the East African Breweries Limited (EABL.ke) company page on AfricanFinancials.Document: East African Breweries Limited (EABL.ke)  2010 presentation results for the half year.Company ProfileEast African Breweries Limited brews and produces alcoholic beverages made from malt and barley and sells them to domestic markets in Kenya, Uganda, Tanzania and South Sudan. Products in its range include Tusker, Tusker Malt Lager, Tusker Lite, Tusker Premium Cider, Pilsner Lager, Pilsner Ice Lager, White Cap Lager, White Cap Light, Windhoek Lager, Bell Lager, Serengeti Premium Lager, Senator Lager, Guinness, Balozi Lager, Kibo Gold and Allsopps Lager. East African Breweries also produces a range of spirits including Smirnoff No 21 vodka, Smirnoff Ice, Cîroc, Richot brandy, V&A sherry, Uganda Waragi, Justerini and Brooks, Myers Original Dark rum, Snapp, Jebel Special, Chrome vodka, Orijin and Smirnoff Ice Electric Ginseng, Johnnie Walker whisky and other Kenyan cane brands. Non-alcoholic brands in its product range include Alvaro and Malta Guinness. The company is a subsidiary of Diageo Plc and its head office is in Nairobi, Kenya. East African Breweries Limited is listed on the Nairobi Securities Exchangelast_img read more

Warren Buffett sold all his airline shares. Should you sell too?

first_img I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Anna Sokolidou has no position in any of the companies mentioned in this article. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address Simply click below to discover how you can take advantage of this. Warren Buffett sold all his airline shares. Should you sell too? Warren Buffett, the legendary American investor, has decided to get rid of all of his airline stocks. This is presumably because he thinks it will take ages for the industry to return to profitability. The Oracle of Omaha chose to sell his entire stakes in United, American, Southwest and Delta Airlines. But I’m asking myself whether the future is really so grim for the airline industry as a whole? And how about top UK companies operating in this sector?Why did Buffett sell?In an interview Warren Buffett said” “I don’t know that three, four years from now people will fly as many passenger miles as they did last year… You’ve got too many planes.” This is essentially about the long-term demand for flights, sales revenue and profit. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…There’s a good chance that the airline industry will recover after the end of the global economy’s lockdown. Restrictions will be removed and many people will, arguably, start traveling again both for work and leisure. But there’s a problem. In the UK, as like all over the world, the Covid-19 crisis is the sharpest recession on record. Many people have lost their jobs and some economists argue that the worst is not behind the world yet. Many companies will not hire their workers back. As a result, the unemployment rate will remain high and many people won’t have enough cash to spend on holidays. So demand for holiday flight may not recover for a long time. And how about travel for work? Well, many enterprises are cutting their costs and will probably continue to do so for a while. These costs include paying for their employees’ business trips. FTSE 100 airlinesIf all the arguments mentioned above turn out to be true, the demand for flights will stay limited for a long time. This will lead to the industry and its players shrinking in size. Companies could have to sell some of their assets, including planes. Large airlines like easyJet and IAG could be bailed out by the government, but will not operate on the same scale for some time.Both of these airlines have already received so-called soft loans from the government. easyJet received £600m and IAG secured £300m. This certainly doesn’t solve all their financial problems since airlines are still burning cash during the lockdown. Still, it shows the government’s willingness to help the sector. However, it remains unclear whether these airlines will get more state aid. Richard Branson’s Virgin Airlines, for example, was advised to seek other ways of raising cash before applying for £565m of government funding. In my view, there will also be some consolidation in the airline industry and it’s likely to be a case of ‘survival of the fittest’. I think smaller airlines around the world may go bankrupt, whereas larger companies may get leaner and fitter.Is the Oracle of Omaha right?I agree it might not be the right time to buy airlines. In fact, it carries substantial risk. But there’s still a chance that larger airlines will survive and could represent an opportunity for risk-tolerant investors. Yet for those new to investing or seeking a safer home for their cash, I’d follow Warren Buffett and keep away. And I’d sell existing shares as there are better stocks to invest in today, I feel. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.center_img Our 6 ‘Best Buys Now’ Shares Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Image source: The Motley Fool Anna Sokolidou | Monday, 11th May, 2020 See all posts by Anna Sokolidou I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.last_img read more

E589 Apartments / Architects EAT

first_img 2014 Save this picture!© James Coombe+ 17 Share Australia Projects “COPY” “COPY” E589 Apartments / Architects EAT Photographs ArchDaily CopyApartments•Melbourne, Australia 2014 Area:  5000 m² Area:  5000 m² Year Completion year of this architecture project Architects: Architects EAT Area Area of this architecture project Year:  ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/633235/e589-apartments-architects-eat Clipboard E589 Apartments / Architects EATSave this projectSaveE589 Apartments / Architects EAT Year:  photographs:  James CoombePhotographs:  James Coombe Save this picture!© James CoombeRecommended ProductsEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsFiber Cements / CementsDuctal®Ductal® Cladding Panels (EU)MetallicsSculptformClick-on Battens in Ivanhoe ApartmentsSuspension SystemsMetawellAluminum Panels for Ceiling SailsText description provided by the architects. E589 is a compact 10 storey 55 unit residential apartment building in the City of Melbourne. Within the developer, estate agent and market driven apartment design typology, this project addresses the challenge of achieving liveability, urban dialogue and architectural aesthetic. E589 achieves this within an otherwise utilitarian development parameters and modest individual apartment footprints.Save this picture!© James CoombeThe project is an architecture of patterning, orchestrated by the participation of the building’s occupants. The myriad positions of the balcony louvres that dominate the two street facades are a direct manifestation of the users’ interaction with their environment. The result is two highly dynamic envelopes that can form a closed cube, or can open completely, with a full spectrum of permutations in-between. The fully motorised sunscreen system, which responds automatically to the wind and rain, enhances occupants’ comfort and experience, yet can be overridden by individual apartments for desired level of privacy and solar access.Save this picture!© James CoombeTypical of its context, the narrow site offers an area of 500sqm, with a width to depth ratio of 1:3. In order to efficiently utilise the footprint available whilst also to achieving the optimum cost benefit for the developer, voids measuring 3.5m x 6m and 3 x 2.5 respectively have been extracted from the built mass. These voids are aligned with those at the adjoining apartment building in order to reduce vertical air drafts. In doing so, these two bright kaleidoscopic light wells, act as a pair of lungs for the building, allowing for improved cross ventilation opportunities for inward-facing apartments. Fixed louvers are utilised again, acting as visual barriers between the properties.Save this picture!ElevationThe metal facade is painted entirely in white. The façade elements explore solid versus void, and the austere, reflective quality of white further amplifies the light and shadow in this essay of composition. The prominent east and west elevations address the creases and twists of their built context – continuing the street eave with soffit detailing at pedestrian level, aligning balcony structure with adjoining gutters and the omission of facade screening which in turn gently gesture to the rooftops of direct neighbours to the north and south.Save this picture!© James CoombeRichard Meier said, “White is never just white, within it is the colours of the rainbow” – in E589 the white of the facades passes through an invisible prism on the ground floor, is then refracted and separated into individual colours of the rainbow over the nine floors above. The common areas of each level are painted in Red, Coral, Orange, Yellow, Green, Olive, Blue, Violet and Purple – moving through the corridors is like pacing inside a Kelly Ellsworth painting of single block colour.Save this picture!Typical Upper Floor PlanGoethe imagined darkness not just as absence of light but as its own active force – in tribute to Goethe and more local cultural events such as White Night Melbourne, coloured LEDS have been utilised as part of the balcony illumination, inviting the occupants to playfully colour the night sky.Save this picture!© James CoombeProject gallerySee allShow lessAIANY Housing Awards Winner SymposiumEventOlafur Eliasson To Bring LEGO Installation “The Collectivity Project” To The High LineArchitecture NewsProject locationAddress:Melbourne VIC, AustraliaLocation to be used only as a reference. It could indicate city/country but not exact address. Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/633235/e589-apartments-architects-eat Clipboard Apartments CopyAbout this officeArchitects EATOfficeFollowProductsSteelConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingApartmentsMelbourneHousingResidentialAustraliaPublished on May 25, 2015Cite: “E589 Apartments / Architects EAT” 25 May 2015. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogVentilated / Double Skin FacadeTechnowoodClick Façade SystemWindowsMitrexSolar WindowMetal PanelsAurubisOxidized Copper: Nordic BrownAcousticKvadrat AcousticsAcoustic Panel System in AMOREPACIFIC HeadquartersStonesCosentinoSilestone® Surfaces – Loft SeriesWoodLunawoodThermo Timber and Industrial ThermowoodLightsLouis PoulsenOutdoor Lighting – Flindt PlazaTiles / Mosaic / GresiteLove TilesPorcelain Tiles – NestAluminium CompositesMetawellAluminum Panels for Interior DesignMetallicsRHEINZINKZinc Roof Systems – Double Lock Standing SeamStoolsWilkhahnOffice Stool – Aline-SBulbs / Spots / Wall LightsUniosHorticultural Luminaire – Kobe FloMore products »Read commentsSave世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

thankQ CRM integrates with QuickBooks as popularity rises amongst not for profits

first_img Advertisement  100 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Howard Lake | 14 June 2011 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis  99 total views,  1 views today In a recent Accounting Software survey carried out by Charity Finance magazine, of the 253 charity customers who took part, 10% stated that they use Intuit’s QuickBooks Pro as their main accounting software package, with 29% preferring Sage 50.Sage has long been the popular choice amongst small and medium sized charities, and thankQ CRM software already integrates seamlessly with Sage products. However as more and more charity organisations choose QuickBooks accounting software, thankQ is taking steps to ensure that those customers enjoy the same levels of integration.thankQ has been working closely with existing customers to understand the unique challenges posed by exporting financial data from thankQ and importing it into the QuickBooks package. Traditionally, customers would need to use a third party tool to complete the process, but now financial data can be exported from thankQ and imported into QuickBooks in one simple step.Peter Conway, Senior Developer at thankQ said of the development ‘one of our greatest assets is our ability to integrate with commonly used office systems, so it was vital that we quickly got to grips with QuickBooks. thankQ customers will now reap the benefits of QuickBooks integration with increased efficiency, streamlined processes and improved data quality.’ Tagged with: Finance Technology ThankQ thankQ CRM integrates with QuickBooks as popularity rises amongst not for profitslast_img read more

Church raises funds with the sound of silence

first_imgThe first run of CDs has sold out and more have been ordered.Other fundraising silencesThe idea is not new. John Cage recorded silence in his work 4’33”, and there are other silent musical compositions.Fundraisers have also used the notion of silence creatively.• According to BBC News, another church in Lewes has sold a CD of its silence.• Many individuals have taken part in sponsored silences.• Silent auctions are a popular fundraising event.• The Royal British Legion achieved a top 20 position for its two minutes silence single in 2010.http://stpeterandstandrew.btck.co.uk/SaintPetersEastBlatchington Howard Lake | 22 October 2012 | News Tagged with: silence Trading About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. An East Sussex church is raising funds by selling CDs of the sound of silence recorded within the building.The CD is being sold to raise funds for St Peter’s Church, East Blatchington. It features an introduction from the Reverend Canon Dr Andrew Mayes and then 28 minutes of silence. In practice, the soundtrack does include background noises in the 12th century church, including footstep, distant traffic and voices, but overall it still provides a sense of calm and quiet.In fact, the church’s main aim with the CD is to raise the profile of the church, rather than specifically to raise funds. CDs are being offered in return for a donation. Advertisementcenter_img Church raises funds with the sound of silence  63 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

ACT NOW to save Mumia’s eyesight and to demand his release!

first_img Call: PA Gov. Tom Wolf — 717-787-2500; PA DOC Secretary John Wetzel — 717.728.2573; Philadelphia DA Larry Krasner — 215-686-8000  *Tell them to release Mumia Abu-Jamal NOW because he can receive better health care outside of prison and also because he is an innocent man!FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this Sign the following petition at tinyurl.com/mumiaeyes.Mumia’s vision has rapidly deteriorated. It has been confirmed that Mumia currently suffers from conditions that seriously threaten his eyesight. These include glaucoma, vitreous detachment and cataracts in both eyes. This threat seriously jeopardizes his life and wellbeing, as well as his journalistic profession.An outside eye doctor is recommending surgical procedures to remove the cataracts on both eyes, but SCI-Mahanoy Dr. Courtney Rodgers is delaying scheduling the needed examinations and surgeries with Mumia’s outside ophthalmologist. Rodgers works for Correct Care Solutions, a notorious for-profit prison and immigration detention medical company that, according to the Project on Government Oversight, has been sued at least 1,395 times with complaints alleging a range of charges, including wrongful death, malpractice and inadequate health care.Meanwhile Mumia faces increasing nerve damage to his eyes. He is unable to read or do other things requiring normal vision. This delay echoes the years of delays Mumia experienced getting treatment for hepatitis C. By the time the DOC was finally forced by Federal Court to treat Mumia with the Hep C cure, it was too late to prevent cirrhosis of the liver.African Americans are 1.5 times more likely to develop cataracts than the general population and five times more likely to develop related blindness.Not only is his overall health deteriorating as he is threatened by permanent blindness, his failure now to receive the immediate attention he requires is cruel and unusual punishment, especially as an innocent man who has been unjustly incarcerated for almost four decades.Furthermore, considering his multiple ailments and the threat of blindness, we demand that Pennsylvania officials allow a real and humane “compassionate release” now, not the “fake compassionate release” of transfers from prison to care facilities that Pennsylvania will only grant when a prisoner is within a year of dying. Mumia’s family, friends and supporters are ready now to provide the health care Mumia requires if he were home.Mumia is not alone in enduring these cruel and unusual assaults on the health of those ageing and ill behind prison walls. According to Bureau of Justice statistics, over 130,000 of U.S. prisoners are elderly, a 400% increase between 1993 and 2013. Mumia himself has noted the significant number of those confined at his own prison who suffer similar life-threatening illnesses that require immediate attention. Across the nation elderly prisoners experience a torturous journey toward the end of their lives without any “compassionate release.” Once again, as we fight for Mumia’s right to treatment and for his release, we fight for the freedom of all the imprisoned from mass incarceration’s cruel and unusual conditions.Mumia Abu-Jamal should receive cataract surgery immediately!Mumia should be released now not only because he can receive better health care outside of prison, but also because he is an innocent man!TAKE ACTION Sign the petition at tinyurl.com/mumiaeyes. Call: Dr Courtney P Rodgers — 570-773-7851 and SCI Mahanoy Superintendent Theresa A. Delbalso — (570) 773-2158    *Tell them to approve Mumia’s cataract surgery immediately.last_img read more

Councillor concerned over Donegal Arts organisations

first_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitter Calls for maternity restrictions to be lifted at LUH Facebook Three factors driving Donegal housing market – Robinson Twitter Previous articleEmergency services at scene of crash at Lough Eske turn offNext articlePresident Higgins praises Derry’s contribution to peace process News Highland Pinterest Newsx Adverts WhatsApp Google+ By News Highland – April 25, 2012 center_img WhatsApp Pinterest Google+ A Donegal Councillor says Donegal is being unfairly penalised as the Arts Council strives to cut costs.Cllr Jack Murray says funding to arts groups in the county has been cut by 19.4%, compared to a 3.2% cut in the Arts Council’s own funding. As a result, he says, a number of arts organisations in Donegal are in difficulty.13 professional arts organisations based in Donegal are funded by the Arts Council, but Cllr Murray says they’re being asked to absorb unreasonable cuts. NPHET ‘positive’ on easing restrictions – Donnelly RELATED ARTICLESMORE FROM AUTHOR LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Guidelines for reopening of hospitality sector published Facebook Councillor concerned over Donegal Arts organisationslast_img read more

Gardai warn of spot flooding on Inishowen roads

first_img Facebook By News Highland – August 12, 2019 Pinterest Previous articleBreak-in at home of 92 year old womanNext article‘Full to capacity’ Donegal Church has plans for new graveyard refused News Highland Gardai warn of spot flooding on Inishowen roads Twitter Twitter Facebook Nine til Noon Show – Listen back to Monday’s Programme DL Debate – 24/05/21 Google+ News, Sport and Obituaries on Monday May 24th center_img Google+ Loganair’s new Derry – Liverpool air service takes off from CODA WhatsApp RELATED ARTICLESMORE FROM AUTHOR Gardai in Inishowen are urging caution on the roads after spot flooding in a number of areas as a result of heavy rain.Gardai say a number of roads around the peninsula are affected, and are urging motorists to slow down. Pinterest Important message for people attending LUH’s INR clinic Arranmore progress and potential flagged as population grows WhatsApp Homepage BannerNewslast_img read more

Guru

first_img Previous Article Next Article This week’s guruColleague now knowswho ate all the piesViolence in theworkplace is no laughing matter, even when it is inflicted by a children’s icon.Pork factory workerChristopher Purvis failed to see the funny side when a colleague, nicknamed theHoney Monster, bellyflopped on him. He suffered four cracked ribs and a bruisedspine.Andrew Baldry, who at23 stone must have eaten plenty of pork pies as well as honey, was convicted ofcausing actual bodily harm at Ipswich Crown Court. The jury, like Guru,found it difficult to believe the Honey Monster’s excuse that he”slipped” after a colleague reportedly shouted, “Go on HoneyMonster, jump on him!”In a spin over afaulty repairmanAt last, someone hasfound a solution to the problem of unreliable repairmen. Personnel Todayrevealed that repairmen who do not turn up contribute to 56 million lostworking days in the UK every year (News, 10 April 2001).Last week, a woman wholocked a repairman in her home after waiting 15 months to get her faulty dishwaterfixed has been given a new machine. Diane Plant, ofStalybridge, Greater Manchester, refused to let a Comet engineer leave her homewhen he said he could not fix the machine. Five engineers hadexamined it over 15 months. Comet has given her anew machine, says a report in the Manchester Evening News. Hackles rise ashemlines go upGuru was outraged forwomankind on his recent trip to Barcelona for an HR management conference.During a lucidconversation in a buffet carriage, Guru discovered that hostesses working onSpain’s high-speed trains have been told they must wear short skirts.The Spanish SupremeCourt, no less, has said it is reasonable for the national railway companyRenfe to demand that hostesses wear skirts at least 2cm above the knee.Their union tried tochange the regulations, but the court didn’t think it was discriminatory. Thecompany believes it suggests “a distinctly high-quality brand”.Such sexist behaviourwould never be allowed in the UK, but even if it was, it is unlikely it wouldhave the desired effect – it’s difficult to notice a hemline when you’veadopted the crash position. Yourmobile tune speaks volumesGurureceived the red card from one delicate conference speaker the other day whenhis mobile phone rang at a critical moment in the talk. Theaudience was really angry too when Tom Jones’ hit Sex Bomb struck up fromGuru’s top pocket – most had been taking a power nap.Butthe worst was to come. Guru was promptly told by psychologist chum GrahamWilson that the chosen tune sends out subliminal messages about his life andpersonality. Sex Bomb indicates that one is lonely and looking for love.Thosewho choose themes such as Mission Impossible or the A-team, for example, wantto be seen as dynamic, solution-focused individuals.Guruhas now changed the ditty to Eminem’s hit Stan – it sends out a much strongermessage about Guru’s personality. Related posts:No related photos. GuruOn 24 Apr 2001 in Personnel Today Comments are closed. last_img read more

Oil and gas industry faces a defining decade for its future, says Environmental Defense Fund director

first_imgWhen new BP boss Bernard Looney announced last month he would oversee the oil major’s transition to net zero by 2050, he credited consultation with the Environmental Defense Fund (EDF) as a key influence in shaping his decision.The US-based advocacy group has established itself as a prominent voice in the ear of major companies around the world — advising on a range of sustainability issues, as well as how to maximise opportunities presented by the response to climate change.For the oil and gas industry, in particular, it says the next 10 years will be critical for executives, who will need to make tough decisions that will come to define the long-term success or failure of their organisations.“Business-as-usual for the oil and gas industry is over,” EDF senior director Ben Ratner announces to a room packed with industry delegates at London’s IP Week.“The defining decade has arrived. This is the decade in which the decisions energy executives make will define their companies’ future viability, and shape the standing of the entire industry on which every company in the value chain depends.” Environmental Defense Fund director Ben Ratner addressed oil and gas delegates at London IP Week on why the industry needs to embrace a low-carbon future Environmental Defense Fund’s Ben Ratner spoke at IP Week 2020 (Credit: Twitter/Energy Institute) At London’s IP Week, senior director for the Environmental Defense Fund’s business energy transition team, Ben Ratner, took to the stage to address oil and gas delegates on what he sees as a “defining decade” for the future of the industry. Andrew Fawthrop was in the audience for NS Energy to hear what he had to say. Investor decisions are changing the future outlook of the oil and gasThe subject of climate change is, without doubt, working its way up corporate agendas with greater urgency than ever before. Several significant developments, even since the turn of the year, emphasising the fact that the oil and gas industry must sit up and take notice, or risk both financial and reputational damage.Ratner tells his audience: “The CEO of BlackRock says climate change has become a defining factor in companies’ long-term prospects. Jeff Bezos donates $10bn to climate change solutions. BP’s CEO announces a set of new ambitions to net zero by 2050 or sooner.“Financial analyst Jim Cramer goes on live TV and goes so far as to declare fossil fuel stocks dead. Not because they are not paying dividends, but because an increasing group of investors are unwilling to tolerate the environmental and social costs that come with those dividends.“Already investors are making decisions, like whether to maintain exposure to oil and gas for a set of reasons — and, if so, which companies deserve their capital and their trust. The talent are making their decisions about what kind of industry they want to work in and what kind of company they want to work for.”center_img Ratner tells industry to think of renewables as ‘core growth’While some sections of the environmental movement call for an immediate end to all fossil fuel activity and the companies associated with it, Ratner says his goal, and the goal of his organisation, is to work alongside industry and policymakers as a partner to support them transition to a low-carbon economy.Citing International Energy Agency data showing oil and gas firms currently only direct about 1% of their capital expenditure into “non-core” areas — effectively meaning renewables and clean technology — he tells the delegates to instead think of these business segments as “core growth”.He adds: “Whatever we disagree on, I think there’s common ground that oil and gas is not going to have a massive growth trajectory.“We can discuss and debate when peak oil is going to be, but massive growth is not on the horizon. However, we have already seen a massive hockey-stick adoption in electrification and renewables.” Measurable goals and advocacy for climate policy are key to progressFour pillars make up this strategy for transforming the face of the oil and gas industry: commitment to ambitious goals, support for science-based climate policy, collaboration to achieve results at scale, and innovation.Ratner says the first step for any company is to set measurable and ambitious targets in line with the Paris Agreement, while putting pressure on governments and regulators for policies that reward environmental performance.“Conventional wisdom has taught us that what gets measured gets managed,” he says.“We face a systems problem that requires a systems approach to deliver a systems solution. Any serious set of climate goals must include Scope 3 emissions — they should be at priority level one.“Net zero by 2050 is an ambition, but it’s a distant point on the horizon to steer the ship towards.“The medium tenure for an oil and gas CEO is about four and a half years, so long-term ambitions must be backed by interim targets that help drive actual plans, and I would encourage you to include measurable goals for 2025 and 2030.“Change this big requires government and business to work together. I know that stricter environmental regulation doesn’t come easily for many people in the industry, but times are changing, and there are good business reasons to make seeking strong climate policies a part of your business as usual.“Well-designed policies send signals for innovation — they reward environmental performance and make it easier for companies to turn that big ship and achieve their goals cost-effectively with the support of government and other stakeholders.“When I talk to investors I hear their growing appreciation not just of the essential role of ambitious government action but of the influential and important duty of companies to engage and support governments in stepping up.“If industry can unlock the same innovation above ground as it has below ground in the last century, this defining decade could well be yours.“In an era that’s fluid and competitive, all companies must put their innovation agenda front and centre because the opportunity is that great and it’s what customers, investors, employees and civil society demand.”last_img read more