Gov. Wolf and Lt. Gov. Fetterman Message to Legislature: Now is the Time to Take up Legalization of Adult-Use Cannabis

first_img Economy,  Press Release Focusing on the benefits of restorative justice and revenue generation, Governor Tom Wolf and Lieutenant Governor John Fetterman again today called on the legislature to take up legalization of adult-use cannabis.“I urge the legislature to join me in building a foundation now to strengthen Pennsylvania’s economy by legalizing cannabis for adult use,” Gov. Wolf said. “This is revenue that can help Pennsylvanians adversely impacted by the criminal justice system access restorative justice programs, it can be earmarked to help our historically disadvantaged small businesses weather the economic crisis caused by COVID-19, and it will give our economy a much-needed boost.”The COVID-19 pandemic has caused enormous disruptions to Pennsylvania’s economy, and with additional federal aid stagnating in Congress, Wolf said adult-use cannabis legalization now will go a long way in helping the state’s economy recover in the future.Some states that have legalized adult-use cannabis have received hundreds of millions in additional revenue.Wolf and Fetterman stressed that while it will take time to build a system that will bring in that level of revenue in Pennsylvania, there are things the legislature can and should do now to ensure that the state and its residents can benefit from that revenue as soon as possible.Lt. Gov. Fetterman has long led the charge for decriminalizing possession of small amounts of cannabis, something that can save money and change the path of the lives of people previously convicted of these low-level crimes.“In 2019, nearly 22,000 people in PA were arrested for having a small amount of marijuana,” Lt. Gov. Fetterman said. “We can better devote the time and resources we spend prosecuting these Pennsylvanians for doing something that most of us think shouldn’t even be illegal.”Gov. Wolf and Lt. Gov. Fetterman were joined by Lehigh Valley NORML (National Organization for the Reform of Marijuana Laws) executive director Jeff Riedy. NORML hosted “Planting A Seed for Freedom; Let Our People Grow,” an awareness event on the Capitol steps today.“We welcome the inclusion of cannabis legalization into Governor Wolf’s legislative agenda, which doubles-down on his commitment to support statewide legalization,” Jeff Riedy said. “NORML chapters across the commonwealth endorsed the Wolf/Fetterman ticket back in 2018. With two robust legalization bills already written, lawmakers could act tomorrow.”The clear message of the day was urgency and how acting now to decriminalize possession of small amounts of cannabis can have immediate benefits for those most adversely affected by criminalization and legalization now can have long-term benefits for the state and all of its residents.“The decriminalization and legalization of adult-use cannabis are what the people of Pennsylvania want,” Gov. Wolf said. “I urge the General Assembly to listen to them.”Ver esta página en español. Gov. Wolf and Lt. Gov. Fetterman Message to Legislature: Now is the Time to Take up Legalization of Adult-Use Cannabis September 16, 2020center_img SHARE Email Facebook Twitterlast_img read more

EIOPA opinion on ESG misrepresents IORP II, says PensionsEurope [updated]

first_imgThe association noted that Article 19 of the directive only requires that member states do not prohibit the consideration of investment decisions’ impact on ESG factors.In addition, the legislation, in point 58 of the recital, explicitly mentioned that IORPs could opt out of incorporating ESG factors in investment decisions, which PensionsEurope said was not mentioned at all in EIOPA’s opinion.Impact investing push The industry association also said the opinion urges national supervisors to push pension funds towards impact investing, and that this was wrong.Although there were pension funds that wanted to make a positive societal impact, any societal objectives “should not be forced upon pension funds by supervisors”.PensionsEurope was referring to EIOPA stating in the opinion that national supervisors “should encourage IORPs to take into account the potential long-term impact of investment decisions on ESG factors in order to support society’s sustainability goals”.It remains up to the pension fund to decide whether the incorporation of ESG factors leads to better risk-adjust[ed] returnsMatti Leppälä, secretary general of PensionsEuropeMatti Leppälä, secretary general of PensionsEurope, added: “If you invest for the long run like a pension fund, ESG risks like climate change should receive attention as part of risk management.“However, it remains up to the pension fund to decide whether the incorporation of ESG factors leads to better risk-adjust[ed] returns.”The association said it supported the EU’s sustainable finance agenda and that an increasing number of pension funds had a responsible investment policy, but that it took issue with EIOPA’s opinion on ESG risks for the aforementioned reasons.What EIOPA saysIntroducing the opinion, EIOPA had said national supervisors should “take a holistic view of pension funds’ exposure to ESG risks” and that the document provided “an illustrative mapping of how ESG risks may arise in traditional prudential risks”.“As institutions tasked with a social purpose of providing retirement benefits, European pension funds should be exemplary leaders of responsible ownership,” it said.“Thus, [national competent authorities] should encourage pension funds to consider the impact of their long-term investment decisions and activities on ESG factors through their stewardship role, as well as having regard to the impact of sustainability risks on pension fund liabilities.”Approached for comment about PensionsEurope’s views, a spokesperson for EIOPA said it “continuously engages in dialogue with all its stakeholders also with PensionsEurope, [which is] also represented in EIOPA’s Occupational Pensions Stakeholder Group.”EIOPA considered and took into account feedback in various forms, the spokesperson continued, but ultimate decisions were taken independently by EIOPA’s board of supervisors, which in this case unanimously adopted all four of EIOPA’s opinions.PensionsEurope also objected to the opinions on the grounds that they did not recognise the “minimum harmonisation” nature of the directive, and that they were based on a harmonised framework for risk assessment that was rejected by lawmakers when IORP II was being finalised. (See separate article)This article was updated to add the comment from the EIOPA spokesperson and the box belowWho says what In arguing that EIOPA’s opinion misrepresents the IORP II legal framework PensionsEurope is referring to a particular description of the legislation by EIOPA towards the beginning of its document, which reads as follows:2.1. The IORP II Directive requires IORPs to take into consideration environmental, social and governance (ESG) factors and risks in the following areas:the system of governance, as set out in Article 21;investment policy, as set out in Articles 19 and 30;the risk-management system and the own-risk assessment, as set out in Articles 25 and 28;information to be provided to prospective members, as set out in Article 41.Article 19 (1) (b) of the IORP II directive itself states:(b) within the prudent person rule, Member States shall allow IORPs to take into account the potential long-term impact of investment decisions on environmental, social, and governance factorsPensionsEurope also refers to part of the introduction to the IORP II directive (Recital 58), which refers to IORPs being able to fulfil a ESG communication requirement by stating that ESG factors are not considered in the investment policy. Further down in its opinion, EIOPA writes that IORPs “may” want to take into account the long-term impact of their investment decisions on ESG factors, in accordance with Article 19. New EIOPA guidance for national supervisors relating to ESG-related provisions in IORP II misrepresents the legal framework set by the directive, according to PensionsEurope.The Brussels-based industry association made the comment in a response to a batch of IORP II opinions published by the EU authority earlier this week, to help national pension supervisors in the implementation of the IORP II directive.The opinions cover different areas of the new pension fund legislation, including a requirement for an own risk assessment (ORA) and provisions relating to environmental, social and corporate governance (ESG) matters.According to PensionsEurope, the opinion on the latter “misrepresents the legal framework set by IORP II by indicating that IORPs are required to take ESG factors into consideration as part of the investment policy”.last_img read more

Isle of Capri mansion with next-level wow

first_img Enjoy a gold class experience in side the cinema.But this designer pad is no one trick show pony — the basement level includes a gold class home theatre, gymnasium, parking space for six cars, a wine cellar and a cold room for food storage.A 21m lap pool runs the length of the ground level where a north-facing courtyard allows light to flood in between the formal lounge, dining area and executive office.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago The four-level residence has plenty of wow factor. MORE: Colourful canvases a must-have home feature The rooftop retreat has an enclosed area with kitchenette for year-round enjoyment.“The rooftop retreat is really special,” said agent Sam Guo of Ray White Collective who is marketing 95 Gibraltar Dr.“You get 360 degree views of the Gold Coast city skyline and the Hinterland. “There’s also an enclosed area for entertaining and a barbecue kitchenette.”Built in 2008, the height of this inner city stunner is unlikely to be achieved again with tighter building restrictions now in place in the suburb. Absolute beachfront home a rare luxury in Palm Beachcenter_img Entertaining is a dream on the rooftop at 95 Gibraltar Dr, Isle of Capri.IN a four-level mansion packed with luxury features, choosing just one standout element is kind of like naming your favourite child. But as you exit the internal lift and step onto the rooftop retreat in this stylish Isle of Capri abode, the wow moment is undeniable. There’s no need to leave home for exercise with a 21m lap pool.“This home ticks all of the big boxes,” Mr Guo said. The low-maintenance, spacious home is ideal for a family, with easy access to Capri on Via Roma and Surfers Paradise. The home is scheduled for auction on Saturday May 30 at 3pm. Home built by pokies heir has jaw-dropping twin poolslast_img read more