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After unprofitable quarter, Sun to cut jobs

"Osvaldo Derosa" (2020-07-06)

The evidence against the two Canadians, former Beijing diplomat Michael Kovrig and North Korean consultant Michael Spavor, is "solid and sufficient," a statement posted on the website of the Chinese embassy in Ottawa said.

President Donald Trump's move towards erasing Hong Kong's privileges is a "recklessly arbitrary" step, according to China's Global Times newspaper website Trump said on Friday he was ordering his administration to begin the process of eliminating special treatment for Hong Kong to punish China for its plans to impose new security legislation there, a potential bombshell for the territory's status as a global financial center. May 30 (Reuters) - U.S.

The "initial coin offering," or ICO, is rapidly reshaping the conventions, boundaries and timelines for how entrepreneurs, startups and eth corporations finance their endeavors. 

But it's the way these crypto projects, currencies and companies raise money that's attracting the most attention from startups and established companies alike. Blockchain technology is changing the face of everything from banking, to payments, to security.

A number of companies have already come under scrutiny for allegedly pushing the limits of what's considered sound bartering agreements and what could be construed as misleading. Companies that allegedly failed to balance revenue from barter with equal reporting on the expense side have come under investigation by federal regulators, as have deals that traded advertising space for ownership stakes.

GENEVA, June 4 (Reuters) - Tens of thousands of people in the Philippines may have been killed in the war on drugs since mid-2016, amid "near impunity" for police and incitement to violence by top officials, the United Nations said on Thursday.

Human rights activists have raised alarm over the bill pushed by Duterte, warning of draconian and arbitrary provisions, including arrest without warrants, that they say could be abused to target his detractors.

"We urge the Chinese and Hong Kong governments to reconsider the imposition of this legislation and to engage Hong Kong's people, institutions and judiciary to prevent further erosion of long-standing rights and freedoms," Julian Braithwaite, Britain's ambassador to the United Nations in Geneva, told the Human Rights Council.

"High Commissioner, we encourage you to provide regular further information on Hong Kong and Xinjiang in order to safeguard rights and freedoms guaranteed under international law," Braithwaite said.

Companies around the world are beginning to face what can broadly be classified as sustainability risks - or risks emerging for environmental and social factors. Traditionally these risks have been left outside the realm of business decision-making because they are the result of externalities that do not financially impact a business. Recent developments, such as the formation of carbon markets, emphasis on accounting for water use, and negative impact of land-use and bio-diversity management have forced companies to quantify environmental and social risks. Whether it is via physical impacts due to climate events (think: flooding in the coal mining districts of Australia, affecting raw material supply to thermal power plants) or regulation around GHG emissions, the industry is facing new threats due to environmental factors.
Sustainability risk is found in the company's value chain. It is in this regard that the articulation, quantification and prioritization of sustainability risk become important.

That climate change will have a significant impact on the power sector is a given. While this knowledge is not new, what may be of interest is how power companies will need to react to evolving risks along all of these dimensions. But with factors such as climate change, rapid depletion of natural resources, and rapidly growing demands from business and societal actors, these 'externalities' are beginning to have a monetary influence on business operations.
For example, government regulations like the levy of a coal cess of about $1 per tonne of coal produced has been devised in India, giving a blow to the profit margins of coal producers and raising prices for power companies. This means that it is found in exactly the same place as other corporate risk - in the supply chain, in interaction with customers, investors, and other stakeholders, and in government regulation. In anticipation of such levy's forward-looking companies may seek to improve plant efficiencies, look for fuel substitutes, upgrade technologies, or expand their portfolio to renewable energies.
For the power sector (especially those companies dependent on fossil fuels) sustainability risk can lie in the areas where they mine for fuel, in the location of the power plants, in availability of fresh water, and in the communities they operate. However, given the nascent nature of sustainability risk management, firms across the power sector have a diverse viewpoint on the subject, making management of these risks difficult and many times arbitrary and rooted to compliance and regulation.
In order for the power sector to credibly manage sustainability risks, it needs the ability to articulate the risks within the context of the business. The Sustainability Risk Assessment should comprehensively assess sustainability risk. To carry out an exhaustive risk assessment exercise that is comprehensive, relevant, and timely there is a need for frameworks that speak the language of business. Given the rapid fluctuation in domestic and global power scenarios, the risk assessment can all help gauge the degree of impact in different scenarios across a short, mid, and long term. It should help companies quantify the risk so that a clear picture of expected impact of climate change and unsustainable practices emerge. Such action will help companies develop capacities to absorb shocks related to climate change and sustainable development related impact, regulation, and market demand. What is less clear - how, when and by how much will these risks impact companies in the power sector.
To take any effective action towards sustainability risk mitigation, it is important that company's look beyond regulatory regimes.
Given the rapid projected expansion of the power sector - especially in India and China - the time is now for the power sector to take immediate action to assess and mitigate environmental and social risks.