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Someone’s got to tell Trump he lost, but Republicans are loath to raise their hands.

first_imgThirty-one former Republican members of Congress — many of them outspoken critics of the president — on Monday denounced Mr. Trump’s allegations in an open letter that called on him to accept the election results. “Every legal challenge must be heard,” Mr. McCarthy said. “Then and only then does America decide who won the race.”- Advertisement – President Trump’s iron grip on his party has inspired love for him among some Republican lawmakers and fear among others. Neither group will tell him it is time to concede his loss — or at the very least, to stop spreading claims about the integrity of the nation’s elections that are contrary to considerable evidence.The dynamic helps explain why, days after Joseph R. Biden Jr. was declared the winner of the election, even Senator Mitch McConnell of Kentucky, the majority leader, was unwilling to recognize the result. Instead, senators have tiptoed around — or in some cases blindly run past — the reality of Mr. Trump’s loss, and the lack of evidence to suggest widespread election fraud or improprieties that could reverse that result.- Advertisement – By Monday evening, only a few Republican senators known for their distaste for Mr. Trump — Mitt Romney of Utah, Ben Sasse of Nebraska, Susan Collins of Maine and Lisa Murkowski of Alaska — had acknowledged Mr. Biden’s victory.The Republican House leader, Representative Kevin McCarthy of California, insisted that Mr. Trump was right to contest the results of the election. – Advertisement –last_img read more

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IFC: Impact investing market ‘growing and maturing’

first_imgThis is the upper end of the range of assets under management in private markets that meet the IFC’s definition of impact investing, capturing those assets managed “with intent for impact”.Roughly a quarter of that – $505bn – has been identified by the IFC as being measured for impact.In public markets, the IFC said, “it is more difficult to credibly invest for impact”.However, it suggested that half of green, social and sustainability bonds and 10% of “shareholder action strategies” could qualify as impact investments, representing some $1.4trn.“We may, therefore, conjecture that in 2019 between $505bn and $3.5trn in assets were invested for impact through a wide range of funds, assets, and institutions,” said the IFC.Whatever figure in that range one opts for, the IFC’s analysis indicates that the market is falling far short of meeting demand. In last year’s report the IFC estimated that appetite for impact investing could be as much as $26trn.‘Maturing’According to the IFC, 97 institutions have now signed up to the Operating Principles for Impact Management, up from 58 when they were launched last year. BlackRock is a newcomer, for example.In its report, the IFC said it showed that impact investors “are developing into a practitioner knowledge community that is self-organised by active investors”.“The group of committed impact investors that have signed the Operating Principles has naturally coalesced into a community of practice, having regular discussions and workshops on detailed implementation issues,” it said.“There is an encouraging openness among these investors to share information and experiences, which allows signatories to agree on best practices. Signatories are showing that they want to compete on the best impact and financial performance, not on the best impact management process or data standard.”“Signatories’ work has aligned more than 90 percent of the indicators in the leading measurement frameworks, a key step towards expanding the industry”International Finance CorporationIn a press release, the IFC said the signatories’ work over the past six months “has aligned more than 90 percent of the indicators in the leading measurement frameworks, a key step towards expanding the industry”.In response to a question from IPE, Neil Gregory, IFC’s chief thought leadership officer, said that, at the request of the signatories, work had taken place to align the impact indicator sets that most signatories use: Harmonised Indicators for Private Sector Operations (HIPSO) for development finance institutions, and IRIS+, managed by the Global Impact Investing Network.“This work is nearly complete, and will be reflected in future versions of HIPSO and IRIS+,” said Gregory. “We expect to share more information on this work when it is completed later in the summer.”Signatories to the Operating Principles must annually disclose the alignment of their impact management systems with the principles and pursue regular independent verification.Tideline, an impact investing consulting firm, recently published a report based on 13 verifications it has carried out for signatories, and said that those in its sample ”generally excel at articulating their impact intentions and have made significant strides to operationalise those intentions across their investment portfolio”.They had work to do, however, with regard to establising robust evidence (principle 3), monitoring unintended imapcts and holding investees accountable for ESG or impact underperformance (principles 5 and 6), and “particularly struggle to consider the effects of their exits on the sustainability of impact” (principle 7).Read more Impact principles: Held to accountHow will the IFC’s impact investment principles help investors seeking transparency and clarity about their investments?… and more in IPE’s special impact investing reports hereLooking for IPE’s latest magazine? Read the digital edition here. The impact investing market is “growing and maturing”, the International Finance Corporation (IFC) has said on the basis of a new report it has compiled about the type of investment.Entitled ‘Growing Impact’, the report is a follow-up to ‘Creating Impact’, the IFC’s first assessment of the global market for impact investing and investor practices.Published in April 2019, that report also served as the background to the IFC launching the Operating Principles for Impact Management.In its new report, the IFC, the private sector arm of the World Bank Group, estimated the size of the impact investing market could be up to $2.1trn (€1.83bn).last_img read more

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Monk happy to stop the rot

first_img “We can’t just rely on Wilfried for the goals, we need the whole team to contribute this season and they did that. “When the chances are not flowing, as they weren’t in this game, you’ve got to be clinical and both goals were well-worked with good finishes at the end.” Leicester have now gone four games without a win since their memorable 5-3 defeat of Manchester United over a month ago and manager Nigel Pearson admitted his side had made too many mistakes to stop that run. “We didn’t perform as well as we should have done and didn’t manage the ball well enough,” Pearson said. “You can ill-afford to make too many unforced errors and we did too many, it made it a frustrating afternoon for the players. “It was disappointing and the bottom line is our baseline performance has to be better. I didn’t feel we really gave as much as we could do to stay in the game and that is the biggest disappointment.” Pearson said Leicester had questioned the size of the goal posts before kick-off after his goalkeepers had raised some concerns, but the match officials said it was not a problem. “The goalkeepers felt they were a bit high,” Pearson said. “I thought it was in everyone’s best interest to get it checked and it was quite light-hearted. “The officials were slightly surprised, but everything was fine. I could have done with it being a bit smaller! “It is very easy to look at the goals and lay the blame for defeats but ultimately what you do with the ball when you have it is equally important, if not more. “We didn’t do enough with the ball and then it becomes a frustrating day.” Press Association Wilfried Bony’s brace saw off Leicester at the Liberty Stadium on Saturday evening as a 2-0 victory ended a frustrating run of results and took Swansea back into the top six. “It was about getting three points as we could feel that little bit of pressure on us within the crowd and amongst the players,” Monk said. Swansea boss Garry Monk praised his players for standing up to the pressure after claiming a first win in six Barclays Premier League games. “It was never going to be easy, especially when Leicester threw caution to the wind, and we could have controlled the ball a bit better in the second half, but I thought we deserved it. “We limited them to shots from distance which is credit to the shape we’ve been working on and how hard defensively we’ve been working. “Three goals we’ve conceded in the last two games – two against Newcastle and the second one against Stoke – has not been the standard we’ve set but we got back to that to keep a clean sheet.” Bony scored in each half to make it four goals in his last three games and after a sluggish start to the season the Ivory Coast powerhouse now appears back to his best. But Monk said he had no concerns about Bony even when he wasn’t scoring as his all-round game was of a high standard. “All strikers go through the moments when they score and when they don’t score,” Monk said. “I know all strikers are judged on goals but what’s important is what they contribute to the team and Wilf has always contributed to the team when he’s not been scoring. “It’s also important to have threats from everywhere and not from just one area. last_img read more