“The financial market plays a central role in this transition and by promoting the market for green bonds, the government wants to increase the opportunities for sustainable investments.” Sweden’s largest pension fund Alecta has welcomed the government’s plan to issue green bonds for the first time by next year – but others have voiced doubts about the proposed environmentally-linked sovereign debt.The Swedish government announced last week that it would instruct the Debt Office to issue green bonds by 2020 at the latest. While green bonds had previously been issued by both public and private bodies in Sweden, this would mark the first state issuance, the government said.The bonds will finance budget expenditure for sustainable schemes and projects, it added.Per Bolund, Swedish financial markets minister, said: “The fact that the state is now issuing green bonds is an important part of the transition towards sustainable development. “The expected return of green bonds should not be lower just because they are qualified as green investments”Magnus Billing, CEO, AlectaIn 2018, the government-commissioned report ‘Promoting the Market for Green Bonds’ concluded that the most important promotion measure would be for the government itself to issue the bonds.Alecta chief executive Magnus Billing told IPE his pension fund welcomed the government’s decision to issue green bonds, and it would participate “if the price is right”.He added: “The expected return of green bonds should not be lower just because they are qualified as green investments. At the moment, the demand for green bonds is much higher than the supply, and that is reflected on the pricing.”Last month, Billing advocated the issuance of Swedish government green bonds in a newspaper opinion piece.AMF casts doubtHowever, Sweden’s third-largest pension fund AMF expressed doubts about the effectiveness of the proposed assets, warning that the bonds risked overturning the green transition in a worst-case scenario.Jonas Eliasson, chief executive of the firm’s AMF Funds unit, said: “As we understand it, it is not possible to earmark certain funding for certain projects in the state budget. This means that these investments would be implemented regardless of whether the green bonds were issued or not. The lower funding cost from green bonds will thus benefit both brown and green objects.”Eliasson added that, although green bonds were in high demand among fund companies wishing to appear sustainable, it was doubtful that investments in government green bonds would be any greener than other government-issued bonds.Swedish life and pensions firm Folksam said that, having already invested over SEK30bn (€2.9bn) in green and sustainable bonds, it welcomed the government’s decision. Tobias Fransson, head of strategy and sustainability, AP4A spokesperson for Folksam said: “The vision of the Folksam Group is that our customers should feel secure in a sustainable world. Sustainable investments that go hand-in-hand with good returns are an important part of our core business.”Although it declined to comment specifically on the planned green bond, national pensions buffer fund AP4 said there had to be a strong connection between green bonds and underlying green assets for the market to be successful.Tobias Fransson, AP4 head of strategy and sustainability, told IPE: “An asset-backed structure where green bonds are backed by green assets would contribute to a unique set of expected return and risk characteristics, which would lower cost of capital for green projects and attract many more investors than at the current situation.”In May, the Dutch government issued the country’s first state green bonds, with European pension funds becoming heavy subscribers to the €5.9bn issue.
FSB selects Glenn Elliott as new COO August 12, 2020 FSB teams up with Cricket.com to launch predictions game June 18, 2020 Share StumbleUpon Submit Mark Wilson: How FSB is meeting the recreational cricket punter’s demands August 20, 2020 Related Articles Richard Thorp long-term commercial lead for sports betting platform and systems provider FSB Tech, has confirmed through a Linkedin update, his departure from the company as Business Development Director.A seasoned executive in industry commercial development and marketing, Thorp has served as FSB’s commercial lead since 2014, joining the firm’s founding enterprise team from the Racing Post.Charged with leading FSB’s commercial strategy and planning, Thorp has been a key stakeholder helping the technology firm securing key sportsbook client wins with Toals NI, Fitzdares and Jenningsbet.In his update, Thorp confirms that he has left FSB to set-up a sportsbook consultancy helping industry incumbents navigate global operating complexities.“Sadly, after almost five years, I have recently taken the decision to move on to new ventures, which meant Friday was my last official day at FSB. It has been a wonderful experience, helping to grow the company from having a single client when I joined, to signing up over thirty more operators across the globe who are using the platform today (with more announcements to come)” Thorp comments through Linkedin“I have huge admiration for the management team of David McDowell and Sam Lawrence and for the incredible in-depth trading knowledge of Mark Wilson and I look forward to working with them again in the future. I’d like to wish everyone I have encountered during my time at FSB, whether colleagues, clients or providers, all the very best. It has been a blast!” Share
The annual event, which for the past five years now has been sponsored by Nestle Milo kicked off with Zone 1 which includes qualified schools from the five Northern regions in the nation. Thus, Northern region, Upper West Region, Upper East region, North East region and Savannah region competing to book a place in the National Finals of the league.The competition was held in the Lawra Municipality of the Upper West region at the Lawra senior high school parkSixteen teams assembled for the championship from the five regions in the northern belt of the country.Participating schools from the various regions were Kundungu D/A Primary school, Karni D/A Primary school, Wa Municipal Model Primary school, Kay Robert Memorial Primary school, Bagri Baptist Primary school and Tuopare Primary schoolOthers includes Anateem Primary school, Songo Primary school, Bazua Primary school, St. Francis Primary school and Tanga Primary, Nyohin Presby Primary school, Savelugu Exp. Primary school and Kaladan E.P Primary school and Iddrisyya Primary school and WaleWale Primary SchoolThe 16 teams looking to book 5 slots for the National championship to be staged at the Paa Joe Park in Kumasi later this year.Day 1 of the competition saw both players and officials taken through soccer clinic led by Milo U13 icon and former Black stars captain, Stephen Appiah.The soccer clinic football practice focused on developing skills, ball control, dribbling, attacking, defending, shooting and crossing. The soccer clinic also seeks to inculcate in the player Teamwork, determination, focus, respect, confidence and discipline on the field of play and in life.The teams had to compete among themselves to get the eventually champions. Teams were grouped based on regions to compete among themselves in a round robin contest. Meaning the top teams from the five regions qualifies for the national championshipAfter enthrilling and mind blowing round of matches in both groups, the Upper West group became the most competitive group as 3 side emerged table toppers with 12 points each but were seperated using goal difference ruleKundungu needed a draw in their last game of the group after 4 winning streak against Wa Model Primary who needed nothing less than the 3 maximum points to stand a chance of qualifying. Karni also in that group needed to win their final group game to stand a chance of progressing and also had to score many goals as wellWa Model defeated Kundungu by alone goal to end Kundungu’s dreams and were hoping for a miracle from the tournament’s worst side Tuopare R/C who before the game had already conceded 10 goals without a reply in the competition against Karni D/A Primary who also had to winning the game with more than 5 goals to qualifyKarni record the tournament’s biggest defeat on Tuopare beating them by 9 unanswered goals to progress from the Upper West group. The results meant, Tuopare were the worst team at the competition, conceding 19 goals without scoring to end bottom on the tableDefending champions, Kaladan Primary school emerged group winners from the Northern region group winning 1 game and drawing the otherEventual winners of the championship, Tanga Primary school topped the Upper East group with 10 points after 3 wins and a draw in the groupKarni primary school, Kaladan primary school and Tanga primary school joined the already qualified schools Iddrisyya primary school and WaleWale primary school to book their place at the national championshipWith more still to play for in terms of the zonal Champion, the 5 qualified teams were paired again with one on a bye in the quarter finals of the competitionWaleWale primary school were paired with defending champions, Kaladan primary school while Tanga primary school had to battle with Iddrisyya primary school with Karni primary school on a byeKaladan primary school booked their place in the semis through penalties after drawing with WaleWale primary school while Tanga primary school progressed with a comfortable 2-0 win over Iddrisyya primary schoolWith 3 teams left in the competition, a coin toss was needed again to determine the sides to play in the one-off semi finals of the tournamentKaladan Primary School was on bye as Tanga Primary school battled with Karni Primary School for a place in the finalsTanga primary school prevailed over Karni primary school on penalties to book a mouthwatering final with the defending champions of the zone Kaladan primary schoolWith cash prize, Nestle products and other Milo school supplies up for grabs , it was a competitive and scintillating final as Kaladan primary school seek to the defend the title while Tanga primary school were also on course to write their own history as far as the championship is concernedTanga primary school fought back from a goal down in the first half to pull parity in the second half to send the game to penaltiesDefending champions, Kaladan primary school lost 1-2 on penalties as Tanga primary school became the newly crowned winners of Zone 1 of the U13 Milo Champions League 2019Tanga will be travelling to Kumasi later this year as proud winners of zone 1 dethroning Kaladan primary schoolAll participating teams at the competition were given 25 milo branded exercise books, 30 wristbands, 6 customized Milo footballs, 2 boxes of Chocolim and 30 pencil casesThird placed team, Karni primary school went home with cash prize, 8 footballs, 2 boxes of Chocolim, 1 box of Milo, 40 wristbands and 40 pencil casesSecond placed side, Kaladan primary school also had cash prize, 8 footballs, 50 wristbands, 50 books, 50 pencil cases and a box of energy cubes to themselvesChampions of the competition, Tanga primary school went home with cash prize, 10 footballs, 70 wristbands, 70 books, 70 pencil cases, 3 boxes of Chocolim, 2 boxes of Milo and 2 boxes of energy cubesThe 5 qualified teams from the zone were also given set of milo branded Jerseys with socks to be used at the national finals in Kumasi at the Paa Joe ParkTournament Awards Fair play – St Francis primary schoolGolden Boot – Ali Shaibu ( 7 goals) Karni Primary SchoolGolden Gloves – Shahadu Mundasil (3 clean sheets) Kaladan Primary SchoolMVP – Abigiba Obed ( Tanga Primary School) What’s next?The championship will move to Zone 2 on Wednesday 29th May 2019 at Sunyani Senior High School where schools from Bono, Ahafo, Ashanti and Bono East Regions will compete for 4 slots for the National Finals.