Permanent Fund Corporation to study ethical and sustainable investing

first_imgFixed Income Portfolio Manager Maria (Masha) Skuratovskaya studies her screens at the Alaska Permanent Fund Corp., March 14, 2016. (Photo by Skip Gray/360 North)The Alaska Permanent Fund Corporation has about $5 billion invested in fossil fuels. That includes stock in companies like Halliburton, Exxon, BP and Tesoro.Listen nowA coalition of groups, including the Alaska Climate Action Network and Oasis Earth, wants that to change. On Dec. 11, during a Board of Trustees meeting in Anchorage, they petitioned the Permanent Fund’s board to drop all its fossil fuel holdings.Rick Steiner, of Oasis Earth, has been pressuring the Corporation and the state for 25 years to drop those investments.And for the first time, the Corporation’s Board of Trustees has requested a meeting to talk about the sustainability and ethical impacts of its investments.“I was elated. I mean, in a way it took me a minute to really process that,” Steiner said.Steiner said he hopes it’s the first step toward a screening process for investments that could cause social or environmental harm.Steiner has also requested that the Permanent Fund Corporation provide a history of the performance of its fossil fuels holdings. He said that data would likely show that they are not profitable anymore.“Socially responsible investing has proven itself to be more lucrative, more popular. And some of these other negative investments — such as fossil fuels, nuclear weapons, corrupt company activities throughout the world — which the Alaska fund is still invested in — they’re a drain on a total portfolio, not an asset,” Steiner said.The Permanent Fund Corporation responded to him on Friday, saying it couldn’t track that performance data. No one at the Permanent Fund, or its board, was available to talk about the petition. But, the Corporation sent a written statement saying that it was too soon to know the framework for its socially responsible investment session.last_img read more

Cancun man drowns in lagoon after drinking swimming

first_imgCancun, Q.R. — A man who went swimming after ingesting alcoholic beverages has been found drowned in a lagoon in Cancun.The body of the 39-year-old man was pulled from the water nearly five hours after he was reported missing. The man, along with friends, were drinking while swimming at the El Milagro lagoon in a colony of Cancun.Friends say the man went swimming across the lagoon but not appear again. Area neighbors called 911 around 7:30 p.m. Personnel from Civil Protection and the Red Cross along with local fireman, began to search for the man.The body of Rogelio Pérez was found late that night, after 50 minutes of searching by a team of two divers from the Mexican Association of Lifeguards.Reports say that the small group of friends were drinking under the lagoon palapa and were taking turns swimming across the lagoon when one of them stop in the middle, unable to reach the bank. The others were unable to help since they too, had ingested alcoholic beverages.The body has been transferred to the Forensic Medical Service (Semefo) for an official autopsy.Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on WhatsApp (Opens in new window)last_img read more