Environmental Funds – G Net http://gnet.org/ Fri, 04 Jun 2021 16:16:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://gnet.org/wp-content/uploads/2021/05/default-150x150.png Environmental Funds – G Net http://gnet.org/ 32 32 Local Students and Ripley County Community Foundation Team Up to Create ‘A Greener Tomorrow’ – WRBI Radio https://gnet.org/local-students-and-ripley-county-community-foundation-team-up-to-create-a-greener-tomorrow-wrbi-radio/ https://gnet.org/local-students-and-ripley-county-community-foundation-team-up-to-create-a-greener-tomorrow-wrbi-radio/#respond Fri, 04 Jun 2021 15:28:14 +0000 https://gnet.org/local-students-and-ripley-county-community-foundation-team-up-to-create-a-greener-tomorrow-wrbi-radio/ Oldenburg Academy students plant pollinator gardens. (Photo provided) Ripley County, IN – The Ripley County Community Foundation (RCCF) is dedicated to supporting the overall wealth of Ripley County. The Board of Directors is focusing on two forms of wealth in 2021; environment, arts and culture. The community foundation is championing the local environment through a […]]]>


Oldenburg Academy students plant pollinator gardens. (Photo provided)

Ripley County, IN – The Ripley County Community Foundation (RCCF) is dedicated to supporting the overall wealth of Ripley County. The Board of Directors is focusing on two forms of wealth in 2021; environment, arts and culture. The community foundation is championing the local environment through a program called “A Greener Tomorrow”. With this program, RCCF hopes to raise awareness of the natural beauty that surrounds us, preserve current environmental assets, and plant species that will support the local habitat for future generations. In April of this year, with the help of a committee, RCCF distributed over 300 trees throughout Ripley County. All of the trees were native to Hoosier State, which included oak, red bud, elm, poplar, and 15 other species, and were planted with the help of Hillenbrand employees of the management class of the landscape of the Milan high school, of the students of the Academy of Oldenburg and of several parks and City directors. It is the hope that these trees will help maintain the local habitat for generations to come.

RCCF continued to work on the environment by planting two pollinator gardens in local schools. The purpose of a pollinator garden is to attract bees, butterflies, birds and more. The students planted Salvia, Butterfly Bush, Achillea Moonshine and more to make this goal a reality.

Milan Elementary school students plant pollinator gardens. (Photo provided)

Students from Oldenburg Academy planted the first pollinator garden in mid-May, where the students took charge of the project. The students found the site, designed the layout, prepared the area, planted, and then finished with mulching. For the second pollinator garden, planted at the elementary school in Milan, students from kindergarten to grade 3 learned the basics of sowing a plant and the importance of providing food for butterflies and butterflies. bees. Students will have the opportunity to watch the garden grow and will be able to remember what they have accomplished.

Amy Streator, Executive Director of the Ripley County Community Foundation, said: “We hope this project will inspire confidence in children and adults to take action to improve their community. Small actions can have big impacts on the environment, especially when all those small actions are brought together towards a common goal. “

“It was a great opportunity in my first week,” said intern Grace Vanderbur. “The children were able to participate in the project and many of them will be able to see this same garden growing alongside them as they progress through school. That’s the beauty of having it in the garden, so to speak.

The Ripley County Community Foundation received a $ 50,000 grant from Lilly Endowment Inc. to establish an endowment fund that will allow RCCF to invest in projects and programs aimed at extending and protecting the natural landscape by increasing the appreciation, improvement and use of the natural environment that surrounds us. Ripley County Community Foundation to raise $ 50,000 in matching donations to officially establish the “A Greener Tomorrow Fund”. Donations made to the “A Greener Tomorrow Endowment Fund” will receive a matching $ 1 for $ 1. To be eligible to receive matching funds, donations must be received by December 31, 2021 and will be paid on a first come, first served basis. You can donate online at rccfonline.org, or by sending a check to 13 E. George Street Suite B, Batesville, IN 47006 or by calling the office at (812) 933-1098.

(Ripley County Community Foundation press release)



Source link

]]>
https://gnet.org/local-students-and-ripley-county-community-foundation-team-up-to-create-a-greener-tomorrow-wrbi-radio/feed/ 0
Biden’s budget would increase funding for Great Lakes and water infrastructure https://gnet.org/bidens-budget-would-increase-funding-for-great-lakes-and-water-infrastructure/ https://gnet.org/bidens-budget-would-increase-funding-for-great-lakes-and-water-infrastructure/#respond Thu, 03 Jun 2021 18:53:25 +0000 https://gnet.org/bidens-budget-would-increase-funding-for-great-lakes-and-water-infrastructure/ Great Lakes advocates see President Biden’s budget and employment plan as an opportunity to increase funding for restoration projects and obsolete water infrastructure in the region. But the president’s proposals face significant hurdles from Republicans and some moderate Democrats over plans to raise taxes and spending. Biden’s $ 6 trillion budget would set aside $ […]]]>


Great Lakes advocates see President Biden’s budget and employment plan as an opportunity to increase funding for restoration projects and obsolete water infrastructure in the region. But the president’s proposals face significant hurdles from Republicans and some moderate Democrats over plans to raise taxes and spending.

Biden’s $ 6 trillion budget would set aside $ 3.6 billion to upgrade water infrastructure across the country for public water supplies, schools and homes. State revolving loan funds that help communities repair drinking water and sanitation systems would see funding increase by $ 464 million.

The budget would also increase funding for a federal Great Lakes remediation program by $ 10 million, from $ 330 million to $ 340 million. Biden’s proposal would also fund the design and build preparation of an $ 831 million plan to keep Asian carp out of the Great Lakes. Invasive fish threaten the $ 7 billion Great Lakes fishing industry and the $ 16 billion boating industry.

“We have a historic opportunity before us, and it is important that we seize the opportunity to protect the drinking water, health, jobs and quality of life of millions of people in the Great Lakes region and across the country, ”said Laura Rubin, director. of the Healing Our Waters-Great Lakes Coalition.

In a conference call with reporters Thursday, Rubin said the budget and the jobs plan could be a game-changer to protect the Great Lakes and fight climate change.

Biden’s jobs plan would invest $ 2 trillion in infrastructure that would provide $ 111 billion to treat water supply systems, replace lead service lines, and deal with so-called chemicals forever known as name of PFAS. The budget includes approximately $ 75 million to help accelerate research that would guide efforts to establish standards for chemicals in drinking water.

Meanwhile, Republicans in the US Senate have come up with their own $ 928 billion infrastructure plan. House Republicans in the United States have proposed a $ 400 billion infrastructure bill, but it would not include investments in water or broadband infrastructure. Republicans have backed down from Biden’s proposals to raise corporate taxes to pay for infrastructure investments.

Chad Lord, policy director for the Healing Our Waters-Great Lakes coalition, noted that all of the proposals represent significantly more funding for infrastructure than what is currently allocated.

“The need is there,” Lord said. “And the current rate of federal investment is simply not keeping up with the scale of the threat and meeting the needs of communities.”

Sign up to receive daily news!

Stay informed with the WPR email newsletter.

Eight Great Lakes states, including Wisconsin, need more than $ 188 billion over the next two decades to look after drinking water and wastewater infrastructure, Lord said.

The American Society of Civil Engineers estimates that Wisconsin will need $ 8.6 billion to look after drinking water systems over the next 20 years, while $ 6.3 billion will be needed to repair them. sanitation systems that have been under more stress due to climate change.

Many of these systems still carry potable water and wastewater through lead service lines. The United States Environmental Protection Agency estimates that there are approximately 6 to 10 million lead lines nationwide. In Wisconsin, water utilities have already identified more than 176,000 state-owned lead service lines and more than 148,000 private lead lines. The city of Milwaukee alone has over 70,000 lead service lines in need of replacement.

Gov. Tony Evers and Democratic Wisconsin lawmakers backed a $ 40 million effort to help replace lead lines, but Republicans blocked those plans.

Representative Tony Kurtz, R-Wonewoc, said on Wednesday that federal funding could be used to address major service lines at a meeting of the state budget drafting committee. But, Senator LaTonya Johnson, D-Milwaukee, said the state must step in. She noted that lead exposure is harmful to human health and has been linked to developmental and behavioral problems in children.

“We have to do our part to make sure our children are safe,” Johnson said.

Great Lakes citizen advocacy groups stress that state and local governments cannot do it alone.

“If we are to solve this problem (we) need significant investment from the federal government to help,” said Brian Smith, associate executive director of the Citizens Campaign for the Environment in New York City.

The Biden administration is proposing to invest billions more in federal agencies to tackle climate change and other environmental challenges. The EPA would see its budget increase by more than 20% to $ 11.2 billion after the Trump administration repeatedly threatened to cut the agency significantly. As part of the budget proposal, the EPA would also set aside $ 936 million in programs to create jobs, clean up pollution and address racial disparities between communities that have been disproportionately affected by the change. climate.



Source link

]]>
https://gnet.org/bidens-budget-would-increase-funding-for-great-lakes-and-water-infrastructure/feed/ 0
Council accepts funds for Anthony’s demolition – on second try | News, Sports, Jobs https://gnet.org/council-accepts-funds-for-anthonys-demolition-on-second-try-news-sports-jobs/ https://gnet.org/council-accepts-funds-for-anthonys-demolition-on-second-try-news-sports-jobs/#respond Thu, 03 Jun 2021 04:42:54 +0000 https://gnet.org/council-accepts-funds-for-anthonys-demolition-on-second-try-news-sports-jobs/ YOUNGSTOWN – Having had a second opportunity to pay a $ 48,000 bill for the August demolition of the old Anthony’s on the River building, city council voted 4-3 in favor of the legislation. City Council on August 26, 2020, 4-3 rejected payment of the demolition bill from Steel Valley Contractors, a Youngstown company, because […]]]>


YOUNGSTOWN – Having had a second opportunity to pay a $ 48,000 bill for the August demolition of the old Anthony’s on the River building, city council voted 4-3 in favor of the legislation.

City Council on August 26, 2020, 4-3 rejected payment of the demolition bill from Steel Valley Contractors, a Youngstown company, because the building was demolished without notice to its members.

During and after a finance committee meeting on Tuesday, it seemed clear that the legislation would fail again on Wednesday with four members saying they were again opposing the payment.

But Councilor Jimmy Hughes, D-2nd Ward, voted to foot the bill on Wednesday, a day after he said he did not support the legislation.

Trying to explain his overthrow, Hughes said on Wednesday that he opposed it a day earlier and didn’t think it was fair to revisit the bill, but “I voted for because you can’t change what happened. I don’t see how you get out of this debt.

He also said he told the administration that he “would never vote this way again” if the situation were the same.

Hughes had voted to pay off the bill in August.

The only member to change her vote from August to Wednesday was City Councilor Anita Davis, D-6th Ward.

She said Tuesday that she supported the legislation because it was not fair to “stiffen” Steel Valley on the payment.

Davis rehearsed this Wednesday and like Hughes and other board members, she criticized the administration for the lack of communication before the demolition.

“We have repeatedly asked the administration to do a better job,” she said.

The August demolition angered several board members as it was carried out early when it was on the agenda.

Administration officials said it was an emergency demolition, carried out by order of Fire Chief Barry Finley, as the 110-year-old building at 15 Oak Hill Ave. was in danger of collapsing.

But City Councilor Julius Oliver, D-1st Ward, strongly disputes this order, saying the structure was not in bad shape and there are many more in town that should have fallen rather than this one- this. He also said he had a business interested in the building before it was demolished.

“As elected officials, we have a moral, ethical and professional obligation to our citizens,” he said. “This building was demolished for no reason. “

Legal director Jeff Limbian urged the council to foot the bill, saying Steel Valley will sue the city for the $ 48,000, which will likely cost even more if an outside lawyer is needed. He estimated this cost at $ 25,000.

Two Bridges LLC, the owner of the property, and the city have filed federal lawsuits against each other. The company is seeking damages, claiming the demolition was inappropriate as the city sues for the demolition cost of $ 48,000.

In addition to Davis and Hughes, Councilor Mike Ray, D-4th Ward, and Councilor Lauren McNally, D-5th Ward, voted to foot the bill. Opponents of the legislation were Oliver and City Councilors Samantha Turner, D-3rd Ward, and Basia Adamczak, D-7th Ward.

“While I feel that the contractor should be paid for the completed work, I don’t agree with the process of this particular demolition,” Adamczak said.

She added: “He was defeated last year, and I don’t even agree with him coming back this time.”

CHARGING STATIONS

The council voted 6-1 on an order to accept a $ 60,000 grant from the state Environmental Protection Agency for eight Level 2 charging ports for electric vehicles. Half will be in a parking lot behind Town Hall, and the rest will be in a lot next to the downtown fire station.

Davis was the only one to vote against, saying he was presented to the board on Tuesday when the administration learned in February that it had received the grant and several questions remained unanswered. The deadline to accept the grant is next Monday. The supervisory board is holding a special meeting today to accept the grant.

Davis said that when the city “takes the money (a grant) and works it out later, we end up paying more.” We have to stop approving it.

The administration failing to advise the board “must stop,” she said.

Several other board members echoed his statements at Tuesday’s finance meeting.

In addition, the council approved an expenditure of $ 325,000 from its Speed ​​Camera Citation Program fund to purchase six police cars and related equipment. It was postponed two weeks ago for further discussion. The police department was forced in November 2019 to end the program largely because of a change in state law.

dskolnick@vindy.com

The latest news today and more in your inbox



Source link

]]>
https://gnet.org/council-accepts-funds-for-anthonys-demolition-on-second-try-news-sports-jobs/feed/ 0
Locus Raises $ 50 Million in Series C Funding Led by GIC with Participation from Qualcomm Ventures and Existing Investors https://gnet.org/locus-raises-50-million-in-series-c-funding-led-by-gic-with-participation-from-qualcomm-ventures-and-existing-investors/ https://gnet.org/locus-raises-50-million-in-series-c-funding-led-by-gic-with-participation-from-qualcomm-ventures-and-existing-investors/#respond Wed, 02 Jun 2021 11:30:00 +0000 https://gnet.org/locus-raises-50-million-in-series-c-funding-led-by-gic-with-participation-from-qualcomm-ventures-and-existing-investors/ – Locus will use the funds to focus on innovation, geographic expansion and team scaling SAN FRANCISCO, June 2, 2021 / PRNewswire / – Locus, a future-ready platform that automates supply chain decisions, today announced it has increased $ 50 million in Series C financing led by GIC, that of Singapore sovereign wealth fund, with […]]]>


– Locus will use the funds to focus on innovation, geographic expansion and team scaling

SAN FRANCISCO, June 2, 2021 / PRNewswire / – Locus, a future-ready platform that automates supply chain decisions, today announced it has increased $ 50 million in Series C financing led by GIC, that of Singapore sovereign wealth fund, with participation from Qualcomm Ventures LLC and existing investors Tiger Global and Falcon Edge. Reputable Angel Investors Amrish rau, CEO of Pine Labs, Kunal Shah, CEO of Cred, Raju reddy, founder of Sierra Atlantic, and Deb Deep Sengupta, former president and CEO of SAP South Asia, also participated in the round.

Locus will primarily use the funds to improve its geographic reach and strengthen its research and development team to expand the product line.

“Quality and patient capital allow us to focus on groundbreaking R&D, helping us deliver exceptional long-term value to our customers, rather than incremental improvements. We will recruit more PhDs to our data science team and look to double our patents by 2022, “mentioned Nishith Rastogi, CEO, Locus.

Locus uses deep machine learning and proprietary algorithms to deliver intelligent supply chain solutions to customers. The company’s scalable solutions have resulted in more than $ 150 million in savings in logistics costs, 70 million kilometers of reduced distance traveled and 17 million kilograms of GHG emission reductions for clients in industries such as e-commerce, retail, online grocery, CPG / FMCG, home services, home deliveries, 3PL, B2B transportation and distribution.

Locus works with the best clients through North America, South East Asia, Europe, and the Indian subcontinent. It has offices in the United States, Great Britain, India, Singapore, Indonesia, Vietnam, and Germany.

Locus has seen a wave of expansion in the Americas, strengthening its leadership with industry veterans such as Walter Heil, Senior Vice-President, Business (Americas), and Michael D. Parmett, Vice-President, Customer Success. Heil previously worked at Project44 and BluJay, while Parmett was with 3GTMS and Manhattan Associates.

“At this point, I would like to thank all our customers for trusting us and being our partners in innovation. It gives us great pleasure to know that we have added value to your supply chain and logistics operations. We are now We seek to support our clients with a global footprint. In addition to the geographic areas in which we are already present, we are also investing heavily in Latin America and aggressively strengthen our presence there, ”added Rastogi. “I would also like to thank the Locus team for their efforts day after day. I hope we can show our gratitude by creating substantial wealth for all of their efforts. ”

“Locus’ smart product suite optimizes supply chain efficiency by using machine learning to provide real-time tracking and insight for last mile execution,” said Varsha tagare, Senior Director of Qualcomm Technologies, Inc. and Managing Director of Qualcomm Ventures. “We are excited to invest in Locus to enable Logistics as a Service and support their journey to become a global leader in last mile automation. “

The company had previously raised $ 30 million over several turns.

About Locus:

Locus is a technology platform that uses machine learning and proprietary algorithms to automate complex supply chain decisions. Its intelligent supply chain solutions provide end-to-end visibility and enable businesses to improve operational efficiency by controlling costs, streamlining the customer experience and reducing environmental impact.

Locus’ scalable solutions include route optimization, real-time tracking and analysis, sales optimization, territory planning, vehicle allocation and network design. Our future-ready platform has delivered more than $ 150 million in logistics cost savings, 70 million kilometers of reduced distance traveled and 17 million kilograms of GHG emission reductions at clients like Nestlé, Mondelez, Unilever, BigBasket, Bluedart, Bukalapak, The Tata Group, and many more.

The company ensures deliveries through North America, Europe, South East Asia, Middle East, ANZ and the Indian subcontinent. Visit www.locus.sh to find out more or follow us on LinkedIn!

About GIC:

GIC is a leading global investment firm established in 1981 to manage that of Singapore foreign exchange reserves and secure that of Singapore financial future. A disciplined investor focused on long-term value, GIC is uniquely positioned to invest in a wide range of asset classes including real estate, private equity, equities and fixed income. GIC has investments in over 40 countries and has been investing in emerging markets for over two decades. Based at Singapore, GIC employs more than 1,700 people in 10 offices in major financial cities around the world.

For more information on GIC, please visit www.gic.com.sg or follow us on LinkedIn.

About Qualcomm Ventures:

Qualcomm Ventures, acting through Qualcomm Ventures LLC or its affiliated entities, has made strategic investments in technology companies that have the potential to radically transform our world since 2000. As a global investor, we seek to help entrepreneurs to create revolutionary companies that are reshaping the world around us. For more information, please visit: www.qualcommventures.com.

Media contact:
Julie salomon
610.764.1534
[email protected]

Logo: Logo: https://mma.prnewswire.com/media/1197609/Locus_Logo.jpg

Locus SOURCE



Source link

]]>
https://gnet.org/locus-raises-50-million-in-series-c-funding-led-by-gic-with-participation-from-qualcomm-ventures-and-existing-investors/feed/ 0
I Fund sets the tone for TSP in May https://gnet.org/i-fund-sets-the-tone-for-tsp-in-may/ https://gnet.org/i-fund-sets-the-tone-for-tsp-in-may/#respond Wed, 02 Jun 2021 01:19:22 +0000 https://gnet.org/i-fund-sets-the-tone-for-tsp-in-may/ Last year, the TSP decided to postpone the implementation of a previous decision to start using a larger index for the international stock I fund, following several actions by the Trump administration against the change, largely because China would be among the countries to add. International Equity Fund I gained 3.61% in May, significantly outperforming […]]]>



Last year, the TSP decided to postpone the implementation of a previous decision to start using a larger index for the international stock I fund, following several actions by the Trump administration against the change, largely because China would be among the countries to add.

International Equity Fund I gained 3.61% in May, significantly outperforming the other two TSP equity-based funds; large-company fund C gained 0.69% while small-company equity fund S fell 0.66%.

Bond fund F gained 0.34% and government securities fund G 0.13%.

The returns for the L lifecycle funds, all gains, were: Income, 0.47; 2025, 0.81; 2030, 1; 2035, 1.08; 2040, 1.16; 2045, 1.22; 2050, 1.28; 2055, 2060, 2065, 1.5.

Review of TSP investment policies to include “climate related financial risk”
President Biden ordered an assessment of how the TSP “has taken into account environmental, social and governance factors, including climate-related financial risk,” in its investment fund offerings, as part of ” an executive decree on the government’s potential financial liabilities arising from climate change.

What it takes to become a TSP millionaire in today’s dollars
With a sufficiently long lead time, involving large and consistent contributions and decent long-term stock returns over the period, it is possible to become a millionaire by amassing middle-class or upper-middle-class income, including most of the jobs in the federal public service.

Yes, it’s good to spend your TSP in retirement

TSP Investor’s Handbook, New 7th Edition



Source link

]]>
https://gnet.org/i-fund-sets-the-tone-for-tsp-in-may/feed/ 0
Op-Ed: Newark Mayor on Utilities Infrastructure https://gnet.org/op-ed-newark-mayor-on-utilities-infrastructure/ https://gnet.org/op-ed-newark-mayor-on-utilities-infrastructure/#respond Tue, 01 Jun 2021 04:07:14 +0000 https://gnet.org/op-ed-newark-mayor-on-utilities-infrastructure/ Ras J. Baraka We recently saw a national call to action to invest in our country’s infrastructure. As the financial devastation of COVID-19 exposed long-standing and dangerous gaps in our public service infrastructure, billions in lost revenue for local governments are hampering the ability to maintain services, let alone massive improvements. infrastructure that is needed. […]]]>


Ras J. Baraka

We recently saw a national call to action to invest in our country’s infrastructure. As the financial devastation of COVID-19 exposed long-standing and dangerous gaps in our public service infrastructure, billions in lost revenue for local governments are hampering the ability to maintain services, let alone massive improvements. infrastructure that is needed.

Cities need solid investments like President Joe Biden’s US Jobs Plan. This $ 2 trillion infrastructure package is focused on strengthening America’s post-pandemic economy and will get people back to work and repair our public service infrastructure for the next generation of Americans.

As a nation, we do not save dollars or lives by reducing our infrastructure and this is especially true of our utilities which provide essential services to residents. A 2016 study from Tufts University estimated that just three water-borne pathogens that thrive in old pipes send nearly 80,000 elderly Americans to hospitals each year, at a cost of $ 2 billion. , much of which is paid for by Medicare. Additionally, a 2008 Kansas State University study estimated that freshwater contamination costs US $ 5.12 billion in 2020 dollars.

Many of our cities’ public water pipes were installed in the mid-20th century with an estimated lifespan of 75 to 100 years. We are rapidly approaching those expiration dates with little progress to show. A 2017 assessment by the American Society of Civil Engineers determined that it would take approximately 200 years to update our water system, as utilities “were performing an average of 0.5% pipe replacement per. year”. The American Water Works Association also estimates that more than 6 million existing pipes are lead service lines that connect the municipal water supply to homes. To immediately address this issue in Newark, we were almost done replacing all of our city’s major service lines, which was not an easy or inexpensive endeavor.

Our city was fortunate to have benefited from the smart and innovative collaboration, funding and investment in partnership with the State of New Jersey and the County of Essex that made it possible to financially commit to removing all major service lines in the city as well as in some of the surrounding municipalities that we serve. Thanks to the cooperation of our residents, even during the pandemic, we are finalizing a project that we expected to complete in eight years, in less than 30 months. However, many cities are not so well positioned and do not have access to the resources to repair their infrastructure, especially now.

The economic impacts of COVID-19 have disrupted the normal flow of revenue to utilities from all directions. Many individual households are unable to pay their bills due to unemployment. Many cities, including Newark, which seek to protect residents from further financial hardship, have put in place closing moratoria for customers unable to pay due to job loss. In addition, with the closure of many factories and office buildings, utilities cannot rely on the revenues of their largest and usually most regular customers. The National Association of Clean Water Agencies (NACWA) estimated that drinking water utilities could potentially suffer losses of $ 12.5 billion from COVID-19.

These challenges make it even more difficult for utilities to maintain and improve their infrastructure. Even before the pandemic, public water systems in the United States faced a $ 30 billion revenue shortfall and the cost continues to rise.

Biden’s plan would solve long-term and short-term funding issues. Funding for advanced utility line replacement projects, for example, would allow cities in the United States to remove all their lead pipes once and for all – just like Newark. His plan would further eliminate all lead pipes and service lines in our drinking water systems, improving the health of children and communities of color across our country and positively impacting environmental justice. This is just one of the ways this investment would allow utilities to resume larger capital improvements, which have been delayed by deficits and a lack of long-promised federal funds.

In addition to the infrastructural benefits, Biden’s plan would functionally begin a national public works program. Cities and towns across the country are reportedly hiring many unemployed Americans to work on wholesale water and other infrastructure upgrades. On its own, Newark’s major utility line replacement program has created opportunities for residents to secure well-paying jobs. Besides a guaranteed basic income, a national public works program is the best option to ensure the financial security of millions of households.

Infrastructure, but especially public services, is the invisible backbone of everyday life and is under extreme stress. Tackling this problem is not only necessary to maintain the health and safety of our people and our economy, but also an opportunity to meet the financial needs of our ailing country while ensuring quality infrastructure and fair justice. for the next generation. If not now when?



Source link

]]>
https://gnet.org/op-ed-newark-mayor-on-utilities-infrastructure/feed/ 0
The Global HIV Fund is an important model for tackling future pandemics https://gnet.org/the-global-hiv-fund-is-an-important-model-for-tackling-future-pandemics/ https://gnet.org/the-global-hiv-fund-is-an-important-model-for-tackling-future-pandemics/#respond Sun, 30 May 2021 10:01:05 +0000 https://gnet.org/the-global-hiv-fund-is-an-important-model-for-tackling-future-pandemics/ An expert’s point of view on a current event. May 30, 2021, 6:00 AM This week, the World Health Assembly (WHA), the governing body of the World Health Organization, is considering how to best prepare and, ideally, prevent future pandemics. The WHA takes as its starting point the recommendations of the Independent Panel for Pandemic […]]]>


An expert’s point of view on a current event.

May 30, 2021, 6:00 AM

This week, the World Health Assembly (WHA), the governing body of the World Health Organization, is considering how to best prepare and, ideally, prevent future pandemics. The WHA takes as its starting point the recommendations of the Independent Panel for Pandemic Preparedness and Response, which released its findings earlier this month. The report is richer and more precise than previous comparable commissions, but also sparked debate on whether and how to create a global governing body for pandemic response.

There are important lessons here from the global fight against HIV. Twenty years ago, the impossible became the inevitable with the creation of a fund similar to what is currently under discussion. Mainstream technocrats said AIDS drugs were too complex and expensive, and health systems were too weak for the drugs to be widely distributed in low-income countries. We both started our careers around this time, joining a transnational movement of people living with and affected by the deadly virus.

Against this grim calculation, the movement sought – and won – annual investments of several billion dollars. These came through the US President’s Emergency Program for AIDS Relief (PEPFAR) and the Global Fund to Fight AIDS, Tuberculosis and Malaria (GFATM), a multilateral fund for efforts community-based efforts to combat the three diseases. These funds were a moral necessity and the only sensible response to a global public health crisis. Although precise attribution to PEPFAR and GFATM is difficult, over the past two decades it is estimated that GFATM has helped save 38 million lives while PEPFAR has saved an additional 20 million lives.

Today the world grapples with the question of preventing the next pandemic – and whenever the question is raised, we think of the Global Fund. In March, the U.S. House Foreign Affairs Committee took the first steps, passing a bill outside the committee considering a new pandemic-focused fund similar to the GFATM. US President Joe Biden’s initial budget request, including $ 800 million for global health security, included part for a catalytic health security finance mechanism. Since then, 120 members of the House of Representatives have approved the new fund, including a majority of House Democrats, and they wrote a letter to Biden urging him to include at least $ 2 billion in seed funding in his budget.

The $ 2 billion in seed funding offered, however, is a bare minimum and is largely aimed at helping countries meet the costs of implementing the International Health Regulations (IHR). IHRs were designed and adopted as the global to-do list for disease outbreak containment, and expanding adherence is a key priority. McKinsey & Company has estimated that initial investments of $ 85 billion to $ 130 billion over the next two years, followed by annual investments of $ 20 to $ 50 billion, are needed globally to put systems in place. surveillance and response to significantly reduce the risk of future pandemics. The size of the investment may seem the most salient feature – and indeed, massive and bold spending is required. But money alone will not prevent or contain future pandemics. The structure, mandate and location of the new fund are extremely important.


An HIV-positive Indian woman participates in a rally in New Delhi on May 10, 2016 to urge China, Germany and Japan to step up their contributions to the Global Fund to Fight AIDS, Tuberculosis and Malaria. CHANDAN KHANNA / AFP via Getty Images

But to be successful, there are two essential lessons to be learned from GFATM. First, prevention must be extended to include addressing the root cause of many epidemic pathogens: environmental degradation. Second, the successful governance model of GFATM, which includes the most affected communities, should be integrated into the management of any future fund.

The GFATM shows that a narrow focus on biomedical solutions – diagnostics and drugs – does not end or prevent pandemics. A pathogen spreads from person to person; a pandemic spreads through a broken system. Epidemics emerge from serious wounds of the planetary ecosystem. Despite attempts at a holistic approach, prevention has struggled to make a dent in the HIV pandemic. In 2019, there were 1.7 million infections compared to 2.1 million infections in 2015, a significant improvement but not enough.

Any new fund must define and finance a comprehensive approach to prevention. It should avoid focusing only on interventions focused solely on human health and disease surveillance, and it should ensure that pandemic prevention is understood as also requiring direct action to reverse the types of degradation of the disease. environment which are at the origin of the overwhelming majority of new disease outbreaks.

The disease that causes COVID-19 is the result of zoonotic spread from animals to humans. In 2010, there were six times more zoonotic fallout events than in 1980. And zoonotic diseases account for 60 percent of emerging infectious diseases, most of them from wildlife. Remarkably, there is an issue between prevention of fallout and investment in human health. Such a binary view cannot succeed. The new fund should focus on the environmental and climate interventions needed to prevent new outbreaks from occurring while building resilient health systems to cope with them when they do occur.


Two Ugandan HIV-positive patients

Two Ugandan HIV patients listen to a doctor from the Mbuya community outreach project, east of the capital Kampala, explain to them how to start drug treatment on September 1, 2005. The HIV / AIDS center has been a beneficiary of the Fund. world wrestling. AIDS, tuberculosis and malaria. James Akena / REUTERS

In addition, GFATM provides lessons on how to manage an effective fund and how donor-funded interventions can be rooted in communities and developing countries. Today there is consensus on funding country plans to meet IHRs, but less attention is paid to who plans, monitors and implements this essential work. When GFATM was launched almost 20 years ago with the mantra “nothing for us without us”, people living with HIV around the world and others most affected by AIDS, tuberculosis and malaria took took their place at the decision-making table in countries and boardrooms – and never left.

To be effective, the new fund must have people living with the ‘long COVID-19’, representatives of essential workers, communities heavily affected by infectious diseases, and health workers on the board and serving as experts. techniques while helping to design national plans. Without community cooperation and the heroic dedication of health workers, no outbreak response can be successful. Epidemics start and end in communities, and including these groups early on will build buy-in and provide front-line knowledge.

Health in Harmony provides a successful model of improving human health while healing the planet. The organization works with the indigenous peoples of Indonesia, Brazil and Madagascar to develop skills and change local contexts. Critically, this work begins by radically listening to those communities who, universally, do not want to cut down the forest but do so for lack of other options. Their model is proven by the data: in Borneo, working with the community to move from deforestation-based activities to healthcare and organic farming has improved health outcomes, saved millions of dollars in carbon, and not just stopped deforestation, but reversed it.

Such a fund is not impossible, provided that a mobilized, enraged and grieving civil society demands action. The new Fund for Prevention and Public Health is to be fully funded at higher levels of estimated need. It must fund countries’ compliance with IHRs and have a governance structure that reflects the expertise and priorities of those most affected by pandemics. And it must incorporate a comprehensive definition of pandemic prevention including ecological and health interventions into its mission and mandate. If these criteria are not met, it is quite possible that no amount of money will prevent the next global crisis. If so, the goal of ensuring that nothing like COVID-19 does not happen again could be within reach.



Source link

]]>
https://gnet.org/the-global-hiv-fund-is-an-important-model-for-tackling-future-pandemics/feed/ 0
Widespread impact investment could help Maine meet pressing social and environmental needs https://gnet.org/widespread-impact-investment-could-help-maine-meet-pressing-social-and-environmental-needs/ https://gnet.org/widespread-impact-investment-could-help-maine-meet-pressing-social-and-environmental-needs/#respond Sat, 29 May 2021 14:15:00 +0000 https://gnet.org/widespread-impact-investment-could-help-maine-meet-pressing-social-and-environmental-needs/ The balance of deposits with financial institutions in Maine is approximately $ 45 billion. This figure raises an obvious question for socially responsible investing pundits like Scott Budde, who heads the Maine Harvest Federal Credit Union: “Why do we have funding gaps somewhere?” Shouldn’t more of these deposits be used to meet Maine’s unmet needs […]]]>


The balance of deposits with financial institutions in Maine is approximately $ 45 billion. This figure raises an obvious question for socially responsible investing pundits like Scott Budde, who heads the Maine Harvest Federal Credit Union: “Why do we have funding gaps somewhere?”

Shouldn’t more of these deposits be used to meet Maine’s unmet needs – from climate adaptation and food security to bloat and affordable housing? Why aren’t they?

The concept of choosing investments taking into account their social and environmental responsibility has been around for decades, and the term “impact investing” has come to define the dual purpose that Ben Franklin articulated for “doing well while doing good” .

Impact investing options abound – in Maine and beyond – for “accredited investors,” those with net worth over $ 1 million (excluding their primary residence) or who have earned over $ 200,000 in each of the previous two years. But these high incomes represent less than 5% of households in Maine. What opportunities are there for the vast majority of unaccredited investors (called “individuals”)?

Become Impact Investors

The first step in becoming an impact investor is to “identify yourself as an investor – even if all you have is a checking account,” said Christen Graham, president of the social impact consultancy, Giving Strong. Your deposits, no matter how small, can potentially be a positive force.

Next, think about the impact you want your funds to have, both in terms of geography and societal concerns. If you focus on Maine, the options narrow down considerably. For retail investors, “there are very few opportunities and they are not well advertised,” Graham warns, so DIY impact investing in Maine “is a real challenge.”

Before allocating savings for impact investing, weigh – possibly with a financial advisor – how prudent it is to allocate and how much risk you can tolerate. (And the usual caveat applies – don’t take the words of a journalist exploring a complex investment topic like financial advice.)

Large scale banking

One of the potential benefits of a more localized investment is that it prevents your deposits from supporting industries you might consider harmful – like fossil fuels, nuclear weapons, or tobacco. Placing your bank accounts with a local credit union or community bank helps minimize this risk and directs your savings toward boosting Maine’s economy.

Local financial institutions typically limit their loans – such as business finance, construction loans, and consumer loans – to the communities they serve. Since Maine does not produce fossil fuels or manufacture tobacco, and since all commercial banks and most commonly owned banks are prohibited from holding shares, your assets are unlikely to fund these. problematic industries.

If you’re doing business with a national company – like JPMorgan Chase, Bank of America, Citi, or Wells Fargo, your deposits are much more likely to fuel the climate crisis, according to writer and activist Bill McKibben. Chase, for example, loaned $ 196 billion to the fossil fuel industry between 2017 and 2019.

Lend for good

Unaccredited investors can invest funds in certain community development finance institutions (CDFIs), mission-based organizations that typically lend to underserved populations. Maine has seven CDFIs, but not all of them are open to retail investors. Coastal Enterprises, Inc., for example, only works with accredited investors. The Four Directions Development Corporation, which serves tribal communities, relies on federal funds and donations, not individual investors.

New Hampshire and Vermont both have nonprofit community loan funds that support residents with limited access to credit through loans and technical assistance for housing, local food businesses, small businesses. businesses and the provision of childcare. Maine’s equivalent, Genesis Community Loan Fund, has a narrower mission – to lend money from a pooled capital fund on “flexible and favorable terms” for affordable housing and community facilities in the areas. underserved.

The money invested in these community loan funds is not FDIC insured. But all three funds have a 100% payback rate over decades of operation, and they report their performance to the Federal Treasury and an independent organization, Aeris. Investors can choose commitments from one to 10 years, with longer periods offering higher interest rates.

“Investors tend to stick with us,” said Liza Fleming-Ives, executive director of Genesis, which has a renewal rate of over 98%. But “the demand for loans is growing so rapidly,” she added, that “we are looking to link up with individuals and institutions” interested in investing.

Genesis does not require that the projects it supports be energy efficient or use renewable energy, she noted, but several lending partners like the Maine State Housing Authority are now encouraging these practices. It’s “a conversation we have” about every project now, she said, acknowledging “the greater efficiency and cost savings of that initial investment.”

Know where your money is going

For lenders who prefer FDIC insurance, Maine has an option that no other state offers – a federally regulated credit union that lends to local farmers and food producers. Depositors with a savings account or CD at the Maine Harvest Federal Credit Union know their funds go directly to building the local Maine food system.

The credit union offers potential depositors a straightforward interface, but Budde, its CEO, quickly recognizes that creating a highly regulated institution focused on a specific type of high impact loan is anything but simple; the process lasted more than six years.

At the other end of the risk spectrum, some people choose to invest directly in start-ups or expanding initiatives – through crowdfunding sites like WeFunder, personal contacts, networks like Slow Money Maine or clubs. investment like Maine Organic Lenders. Local lenders have made many successful loans offering lower than market interest rates with low incidence of defaults. But given the risk of starting small businesses, especially in the food sector, such loans should only be made by those willing to lose their principal, experts warn.

Increase local investment

Local loans are a natural choice in Maine. “We feel very lucky to be doing this work in Maine,” Fleming-Ives adds, because “people are looking for creative solutions in their communities.

A clearinghouse for information on investment options would be a good place to start, making it easier for potential retail investors to find initiatives that match their criteria. To generate more investment opportunities, a study group of community finance experts could identify needs and make recommendations on how to put more of our collective savings to work for the common good.

Maine already has many local financial institutions, a strong interest in impact investing, and worthy businesses in need of capital. All that remains is to increase our capacity to invest locally.



Source link

]]>
https://gnet.org/widespread-impact-investment-could-help-maine-meet-pressing-social-and-environmental-needs/feed/ 0
Neuberger Berman High Yield Strategies Fund Announces Monthly Distribution https://gnet.org/neuberger-berman-high-yield-strategies-fund-announces-monthly-distribution/ https://gnet.org/neuberger-berman-high-yield-strategies-fund-announces-monthly-distribution/#respond Fri, 28 May 2021 20:30:00 +0000 https://gnet.org/neuberger-berman-high-yield-strategies-fund-announces-monthly-distribution/ NEW YORK, May 28, 2021 / PRNewswire / – Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the “Fund”) has announced a distribution statement of $ 0.0905 per common share. The distribution announced today is payable on June 30, 2021, at a record date of June 15, 2021 and has an expiration date […]]]>


NEW YORK, May 28, 2021 / PRNewswire / – Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the “Fund”) has announced a distribution statement of $ 0.0905 per common share. The distribution announced today is payable on June 30, 2021, at a record date of June 15, 2021 and has an expiration date of June 14, 2021.

Under its tier distribution policy, the Fund expects to make regular monthly distributions, subject to market conditions, of $ 0.0905 per common share, unless further steps are taken to determine another amount. The Fund’s ability to maintain its current distribution will depend on a number of factors, including the stability of its investment income, the cost of leverage and the level of the Fund’s other expenses. There can be no assurance that the Fund will always be able to make a distribution of any particular amount or that a distribution will consist solely of net investment income.

Due to an effort to maintain a stable distribution amount, the distribution announced today, as well as future distributions, may consist of net investment income, realized capital gains and return of capital. Pursuant to Section 19 of the Investment Companies Act 1940, as amended, notice would be provided for any distribution which does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes and would disclose, among other things, the estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2021 will be made after the end of the year.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent and employee-owned investment manager. The company manages a range of strategies – including equities, fixed income, quantitative and multi-asset asset classes, private equity, real estate and hedge funds – on behalf of institutions, advisers and individual investors from around the world. With offices in 25 countries, Neuberger Berman’s diverse team consists of more than 2,300 professionals. For seven consecutive years, the company has been named first or second in the Pensions & Investments Best Places to Work in Money Management survey (among people with 1,000 or more employees). In 2020, the PRI named Neuberger Berman Leader, a distinction awarded to less than 1% of investment firms for excellence in environmental, social and governance (ESG) practices. The PRI also awarded Neuberger Berman an A + in each category eligible for our approach to ESG integration across asset classes. The firm manages 402 billion dollars in the client’s assets from March 31, 2021. For more information, please visit our website at www.nb.com.

Statements made in this press release which forward in time involve risks and uncertainties. These risks and uncertainties include, but are not limited to, the adverse effect of a decline in the securities markets or a decline in the performance of the Fund, a general downturn in the economy, competition from other companies. closed-end investment, changes in government policy or regulations, inability of the Fund’s investment advisor to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unanticipated costs and other effects associated with lawsuits or investigations of government and self-regulatory organizations.

Contact:
Neuberger Berman Investment Advisers LLC
Investor information
(877) 461-1899

SOURCE Neuberger Berman

Related links

www.nb.com



Source link

]]>
https://gnet.org/neuberger-berman-high-yield-strategies-fund-announces-monthly-distribution/feed/ 0
City audit made public | News, Sports, Jobs https://gnet.org/city-audit-made-public-news-sports-jobs/ https://gnet.org/city-audit-made-public-news-sports-jobs/#respond Fri, 28 May 2021 04:07:30 +0000 https://gnet.org/city-audit-made-public-news-sports-jobs/ YOUNGSTOWN – A public audit of the city’s finances in 2019 found some problems, but noted the resolution of the biggest problem of the past two years – the inappropriate use of $ 4.4 million in general funds for development projects economic. The audit, carried out by Julian & Grube of Westerville on behalf of […]]]>


YOUNGSTOWN – A public audit of the city’s finances in 2019 found some problems, but noted the resolution of the biggest problem of the past two years – the inappropriate use of $ 4.4 million in general funds for development projects economic.

The audit, carried out by Julian & Grube of Westerville on behalf of the auditor’s office for 2019, was made public on Thursday.

“We are happy with the audit because the big problem has been fixed,” said city finance director Kyle Miasek.

Another question, which was raised before, was how the city allocated part of the costs of various services to the funds for water, wastewater and environmental sanitation.

Since 2004, the city has used 70 percent of the cost of running IT services, control board, legal department excluding prosecutors, finance department, mayor’s office, civil service, council municipal and housing inspection of these three funds. In addition, about 50 percent of the operating cost of the public works department is charged to these funds.

The audit indicates that the percentages are not supported by the documentation.

“Without a full and comprehensive allocation plan approved by council, the city could improperly charge certain funds, which could lead to anomalies in financial statements and / or adjustments to the fund balance,” the audit said.

The city hired Maximus Global Consulting Services of Richmond, Va., To develop a model for using those funds for these departments, Miasek said.

The report showed that in 2019, those departments should have charged $ 2,597,441 to the three funds and actually charged $ 3,137,829, he said. This did not include the annual rental fee of $ 186,000 for the water utility for the town hall offices.

The difference is $ 354,388.

“I’m very happy with how close we are,” said Miasek. “There isn’t a huge difference. They’re going to do it again for 2020. The auditor’s office wanted something more in-depth and data-driven and there is now a benchmark. “

Another issue raised in the 2019 audit that also appeared in the 2018 report was how the police department paid some officers who worked out of line. The audit showed that the officers were poorly paid for overtime.

The police department also wrongly gave accumulated time – extra time off instead of paid – to many officers. According to the audit, two agents had too much time accumulated that they had not gained.

“It was handled internally and the issue is resolved,” Miasek said.

The audit noted that the city last month addressed a major problem in its 2018 and 2019 audits: it wrongly used $ 4,415,332 from its water fund ($ 2,653,169), from the wastewater fund (1,612,163 $) and the environmental sanitation fund ($ 150,000), mainly for economic development, when the money should have come from the general fund.

The city had opposed the auditor’s office request to pay the money to the three funds over a 15-year period.

But because of the $ 5.3 million in federal COVID-19 relief funds given to the city last year with $ 82,775,370 more to come – half this year and the rest in 2022 – the general fund has a healthy surplus that will increase dramatically. The city council therefore voted last month to reimburse the three funds.

“We are pleased to see the Town of Youngstown meet its financial obligations to water and sewer taxpayers,” said Allison Dumski, a spokesperson for the auditor.

Today’s breaking news and more delivered to your inbox



Source link

]]>
https://gnet.org/city-audit-made-public-news-sports-jobs/feed/ 0