Switzerland’s UBS says it no longer will finance new coal-fired plants

first_imgSwitzerland’s UBS says it no longer will finance new coal-fired plants FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):UBS Group AG said it will no longer provide project-level finance to new coal-fired power plants around the world, as it outlined tighter rules on funding such transactions.Switzerland-based UBS noted it will only finance existing coal-fired operators — defined as being more than 30% reliant on coal — that have a transition strategy that supports the Paris climate agreement, or transactions that are related to renewable energy.The bank also intends to source 100% of its electricity from renewable sources by 2020.UBS said its carbon-related assets amounted to $2.7 billion in 2018, down from $6.6 billion a year before. Climate-related sustainable investments totaled $87.5 billion, up from $74 billion in 2017.Additionally, UBS disclosed that its total sustainable investment assets and core sustainable investment assets stood at $1.11 trillion and $313 billion, as of Dec. 31, 2018, respectively, representing 35.8% and 10.1% of the banking group’s total invested assets.More ($): UBS further tightens rules on coal financinglast_img read more

Race to celebrate fish migrations

first_imgMACHIAS — The Downeast Salmon Federation (DSF) will host its third annual Smolt Bolt and Bloater Bash on Saturday, May 9, at the East Machias Aquatic Research Center (EMARC).This event is a celebration of two great fish migrations — the Atlantic salmon smolt and the river herring.The race will begin at the Downeast Sunrise Trail across from Dunkin’ Donuts and will follow the trail to the finish line at EMARC.Registration and race number pick-up will begin at 8 a.m. at EMARC, and the race will start at 10. Parking is available at EMARC, and shuttles will be available to take racers to the starting line.This is placeholder textThis is placeholder textA post-race social will follow the race. Refreshments and whole-smoked alewives, or bloaters, will be served. The post-race social is free to all, though donations are welcome.Race participants can register in advance for $15 per person at EMARC or online at www.mainesalmonrivers.org. Registration includes a race T-shirt while supplies last. Registration after May 1 is $20.last_img read more