Posted by AGORACOM-JC
at 12:05 PM on Wednesday, August 7th, 2019
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Esports Are Beginning to Eclipse Traditional Sports
More young people are dreaming of becoming professional gamers than professional athletes
In British Columbia and beyond, esports are booming. Many universities are forming esports teams for games like Overwatch, League of Legends, Rocket League, Counter-Strike, and Dota 2 to compete in collegiate leagues around the world.
by Alex Rodriguez
In 2018, esports had a total audience size of 380 million, and esports research firm Newzoo predicts that that number will increase to 557 million by 2021.
As a result, an increasing number of large brands will sponsor events and tournaments, which has lead Newszoo to believe that esports will reach a market value of $1.7 billion USD by 2021, overtaking the revenue generated by rugby.
If you think that sounds like a lot of money, this year Fortnight will become the first game to offer a prize pool of $39 million for the Fortnight
World Cup in July. With prize pools growing so large, it’s easy to see
why gaming as a whole is flourishing. Instead of simply playing for fun,
people are now seeing gaming as a possible investment in skills that
could win you prizes.
The grand opening of the Gaming Stadium
in Richmond on June 28 was a milestone for esports in British Columbia.
With its construction came the creation of Canada’s first dedicated
esports gaming stadium.
They host competitive events most
days of the week for various video games that either individuals or
teams can sign up for. All of their events are broadcasted on Twitch—the
leading live streaming platform for gamers and esports events—using
great production quality. The Gaming Stadium is sure to cultivate new
talent in the community as the local population will be able to go there
to practice, socialize, and get a sense of what being an esports player
feels like.
In 2018, esports had a total audience size of 380 million,
and esports research firm Newzoo predicts that that number will
increase to 557 million by 2021. As a result, an increasing number of
large brands will sponsor events and tournaments, which has lead Newszoo
to believe that esports will reach a market value of $1.7 billion USD by 2021,
overtaking the revenue generated by rugby. They also predict that, with
the help of esports, the global games market will generate over $180
billion USD.
As the life of a professional gamer
continues to look more and more lucrative, it may eventually become more
common for parents to push their children towards becoming a digital
athlete than it is to involve them in traditional sports.
Posted by AGORACOM-JC
at 10:13 AM on Wednesday, August 7th, 2019
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India’s Education Policy Updates After 30 Years: 4 Experts Share What It Really Means
On 31 May 2019, the Ministry of Human Resource Development (MHRD) released a draft of the National Education Policy (NEP).
This is the ï¬rst update to India’s education policy in nearly 30 years, and there has been plenty of debate on the recommendations, and it was open to the public for feedback and suggestions till July 31.
Central Square Foundation’s (CSF) monthly newsletter The EDge asked
eminent names from the education sector to share their thoughts on some
key aspects of the policy.
1. Ashish Dhawan, Founder and Chairman, Central Square Foundation
What is your initial response to the draft NEP? If implemented, how do you see the impact of the policy on our education system?
The draft NEP was a long time coming, but it has made some bold and
welcome recommendations to shift the focus of the education system
towards quality, and improving student learning outcomes. It takes a
long-term view in terms of the emphasis on flexibility and skills to
ensure that our children are equipped for a rapidly changing job
scenario.
When I read it, my immediate thought was that we now have a policy document, even though it’s a draft, that explicitly recognizes that we are currently in a severe learning crisis, and that this crisis starts in the early years. This is significant. If we were to focus and get this one thing right, i.e., ensure all children have foundational literacy and numeracy skills, this in itself would have a tremendous impact on the education system.
What are some of the key steps the government can take for
the successful implementation of the policy? How can the policy
translate into real action?
The challenge is that current state capacity to deliver quality
education is weak, and we do not have the resources to focus on so many
things at the same time. My one advice to the government would be that
they should almost ruthlessly prioritise–they should first focus on
ensuring that all children achieve foundational literacy and numeracy,
and then phase in other priorities, as needed.
Separately, I think it’s important to remember that implementation
rests with states. The centre’s role is primarily one of catalysing
demand for critical reforms with the states, setting broader policy
goals, providing funding to states, and so on. The centre cannot be too
prescriptive in terms of ‘how’ states need to implement. In fact, it
needs to give states the autonomy to choose the most cost-effective
pathways, while maintaining accountability for the right outcomes. The
centre should also think about enabling states to develop 3-5 year
plans, and not annual plans.
What, according to you, are the big misses of the draft NEP, if any?
One of the key concerns with the draft education policy is that like
many other policies, it may be attempting to do too much. As a system,
we first need to focus on getting the basics right–ensure that all our
children achieve foundational literacy and numeracy by class 3. Without
this prioritisation, the system will continue to grapple with multiple
competing priorities.
We cannot hope to achieve foundational learning for all our children
if we don’t measure it correctly. Therefore, one of the biggest areas of
reform in this regard, which is not adequately addressed by the policy
in its current form, is the need to ensure independent and reliable
learning data to measure early grade learning outcomes.
While the NEP does call out regular adaptive assessments, there is a
need to have a large-scale, independent, household-based,
government-backed assessment, which measures outcomes for children
attending public and private schools. This survey must be housed in and
administered by an autonomous institution, which is at arm’s length from
the delivery ministry, ensuring there is no conflict of interest. This
learning data is critical for the government to meaningfully hold the
system accountable and keep us honest.
Read CSF’s full interview with Ashish Dhawan, here.
2. Geeta Gandhi Kingdon, Professor, University College London and President, City Montessori School, Lucknow
The NEP refers to the creation of an independent agency to
gather and analyse data for the education system. What are crucial data
gaps on private schools that the government should strive to fill?
There is hardly any data on private schools
because they are rarely included in studies or surveys done by the
government. It is as if private school students belong to another
country. For example, the National Achievement Survey (NAS) is conducted
only in government and aided schools and excludes private unaided
schools. We need more information about private schools to get a fuller
picture of the education sector.
What do you think of the proposition to separate regulation,
provision, and policy-making in the NEP? How do overlapping interests
between these functions presently impact private schools?
The idea of separating roles is very good, because if the government
performs all the roles–funder, provider, regulator, policy maker,
assessor–it leads to many conflicts of interest. However, the NEP does
not go far enough because it does not separate funding and provision–the
government is both the funder and producer of education, i.e., it runs
schools itself.
The NEP does not consider public funding for privately produced
education (public-private partnerships). It is a myth that in
educationally developed countries, all schools are state-run. Actually,
they are only publicly funded, not publicly run. This is an important
distinction that many in government are unaware of.
In India, there is an entrenched belief that the government shouldn’t
just fund education, it must also produce it (i.e., run the
schools)–even when it has struggled to deliver quality. Our main focus
should be to ensure that all elementary education is publicly funded, so
that parents do not have to pay to send their children to school. But
the operation of the schools could be in private hands if they are
deemed to be more efficient, i.e., to deliver better child outcomes at
lower costs.
The NEP has also proposed the establishment of an independent State
School Regulatory Authority (SSRA) for each state, to handle all aspects
of school regulation and accreditation. It recommends reducing the
burden of over-regulation on private schools, and regulating public and
private schools within the same framework/benchmarks. These are welcome
proposals. Much depends, however, on how the SSRA will operate. Will it
subject public schools to accountability pressures? Will government
schools go through a process of recognition like private schools? And
will they also be closed down if they do not comply with the norms of
the RTE Act? The NEP doesn’t clarify this, leaving open the possibility
of the continuation of non-accountable public schools and resultant poor
learning outcomes.
Read CSF’s full interview with Geeta Gandhi Kingdon, here.
3. Rukmini Banerji, CEO, Pratham Education Foundation
The draft NEP includes pre-primary education as part of the
‘foundational stage’ (ages 3-8) and strongly recommends that this stage
must be a continuum. Do you agree? How should we approach this?
I welcome the strong focus on the early years. Building strong
foundations in the early years allows children to ‘leap forward’. The
widespread phenomena of ‘falling behind’ that we see today, happens
because the right things are not done at the right time.
The draft policy states that children in the 3-8 year age group
should receive a flexible, “play-based, activity-based, and
discovery-based†education. However, it is fair to say that the
educational establishment in India, including the government bodies at
the central, state, and district levels have little or no experience
with the preschool age group.
Pre-primary classes are often part of primary schools in the private
sector and much of the student intake happens in lower or upper
kindergarten. However, research studies show that most activities in
these institutions in the early age group are ‘school-like’ and do not
provide the flexible, play-based, and developmentally appropriate
activities that are suited for supporting the development of young
minds. So, despite several years of preschool education, such children
are still not ‘ready’ for class 1.
At the same time, the Integrated Child Development Services (ICDS)
system run by the Ministry of Women & Child Development (MWCD) is
typically overwhelmed by responsibilities in health, immunisation, and
nutrition. So, in the anganwadis, early childhood stimulation or
development has not received the high priority it needs.
Bringing these two ministries together, all the way from the centre
to the states, districts, and villages, will be a huge and challenging
task, but one that is certainly worth undertaking. Clear financial
calculations will be needed to support this convergence exercise in a
sustained way.
One of the objectives the draft NEP states is that every
child in grade 5 and beyond should achieve foundational literacy and
numeracy – can you talk about some of the specifics with regard to the
pedagogical and curricular changes that will be needed to achieve this
goal?
According to ASER data, only about 50 percent of class five children
are able to read in class 2 (or higher). The other half is spread across
several reading levels, starting from not being able to recognise
letters to just about coping with simple sentences. This is one of the
biggest challenges in primary schools, the wide dispersion of learning
levels. The teacher’s daily dilemma is to figure out what to teach and
to whom. To complete the curriculum guided by grade-level textbooks,
teachers usually choose to focus on the ‘top of the class’, leaving
others to catch up on their own. Even the RTE Act prescribes that
teachers “must complete entire curriculum within specified timeâ€.
The draft NEP highlights several causes for the learning crisis,
including the lack of school readiness, but it doesn’t address the
negative consequences of overambitious curricula or the common practice
of teaching to the top of the class. The real challenge is, therefore,
to schedule ‘catch-up’ routines into the regular school schedule. Given
the size, depth, and magnitude of the ‘catch-up’ required, we will need a
persistent and high-priority effort for at least five years or more.
The alignment of key elements of the school system such as teacher
training, teaching-learning material, ongoing teacher support,
mentoring-monitoring, assessment, and course correction towards
achieving stated goals is critical. Perhaps this alignment for
foundational learning will now be possible, given the overarching
direction of the new policy.
Read CSF’s full interview with Rukmini Banerji, here.
4. Sridhar Rajagopalan, President and Chief Learning Officer, Educational Initiatives
The draft NEP calls for the appropriate integration of technology
into all levels of education. What is your initial response to the
draft in terms of how it envisions the role of technology in education?
The draft policy mentions India’s unique leadership in the technology
space and acknowledges that the right policy and implementation can
help India become a global leader in EdTech. Overall, the policy seems
to have its heart in the right place, yet many challenges plague the
successful implementation of EdTech in our country.
For example, one of the most common issues with all EdTech projects
is the disproportionate focus on hardware as compared to the software or
content.
One big miss. without a doubt, is that it fails to recognise the role
of the private, for-profit players and their international experience.
It would have been useful to look into what has been tried already in
EdTech and the challenges those efforts faced. While the collective goal
should be to strengthen state resources and capacities and help curate
high-quality open resources, there should be an effort to learn from the
for-profit EdTech players and view them as providers of co-existing and
complementing solutions.
Again, for implementation of suggestions made in the policy,
do you think we have adequate infrastructure and capacity in our schools
and state systems? What could be the challenges in creating that
infrastructure and capacity?
The infrastructure and capacity do not exist, but like with anything
new, they can be developed over time as these projects expand. However,
problems arise if the approach tends to focus more on scaling than on
quality. Ironing out all possible issues at the scale of 20-100 schools
is very important, and a disproportionate focus at this scale will
ensure fewer challenges at a larger scale of say 1,000 or 2,000 schools.
What is important in all this is generating effective assessment
solutions and protocols to provide learning feedback. Again, this should
be done in a low-stake, quality-focused manner while gradually scaling
up and taking key players and partners along.
Read CSF’s full interview with Sridhar Rajagopalan, here.
Posted by AGORACOM-JC
at 9:56 AM on Wednesday, August 7th, 2019
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Facebook’s Libra: It’s not the ‘crypto’ that’s the issue, it’s the organisation behind it
Libra is not a cryptocurrency—at least, not as they have been put into practice so far, where a distributed, decentralised community participates in transaction verification via a competitive process.
Libra is essentially a prepaid digital token, backed one-to-one with a basket of reserve currencies. It is “minted” when people put up state-issued currencies to buy it.
In all the hype that has surrounded its Libra currency, Facebook has been able to distract attention away from an important issue. Libra is being hyped as Facebook’s bitcoin but it’s really a proposal for a global payments system. And that system will be controlled by a small and exclusive club of private firms.
Since it was announced in June, politicians and regulators have attacked Libra, citing concerns about its being a cryptocurrency.
Libra is not a cryptocurrency—at least, not as they have been put into
practice so far, where a distributed, decentralised community
participates in transaction verification via a competitive process.
Libra is essentially a prepaid digital token, backed one-to-one with a
basket of reserve currencies. It is “minted” when people put up
state-issued currencies to buy it.
What’s important here is not the technological innovation. Facebook
is proposing, in Libra, a new form of organisation. We already have
payment systems controlled by private companies—Visa,
MasterCard, Venmo or PayPal, which provide the infrastructure or
“rails” for transferring value—and Libra might turn into another such
rail. But its promoters have greater ambitions for it.
Based on our research on the history and technology of payment infrastructures,
we see similarities between Libra and Visa. But it’s the differences
with the Visa network that raise the biggest warning flags.
Learning from Visa
Libra will be controlled and maintained by the Libra Association,
a membership-based group. Libra’s developers have voiced a commitment
to letting anyone become a member of the association, including users
like you and me. The Libra white paper
trumpets the importance of decentralisation. But it also admits that,
“as of today we do not believe that there is a proven solution that can
deliver the scale, stability, and security needed to support billions of
people and transactions across the globe” through a truly open,
decentralised system.
We believe Libra’s founders got the idea from the work of Visa’s founder, Dee Hock.
Hock was heralded as a visionary in his day, like Steve Jobs or Mark
Zuckerberg today. He realised that the problem facing payments between
banks was not technological, but organisational.
When setting up Visa, it was important for Hock that Visa would not
be owned by self-interested shareholders. Instead, it was the users,
banks and credit unions, who “owned” Visa as a cooperative membership
organisation. Ownership here did not entail the right to sell shares,
but an irrevocable right of participation—to jointly decide on the rules
of the game and Visa’s future.
The incentive was to create a malleable but durable payment
infrastructure from which all members would benefit in the long term. To
work, everyone had to give something up—including their own branding on
credit cards, subordinating their marks to Visa. This was a really big
deal. But Hock convinced the network’s initial members that the payoff
would come from the new market in payment services they would create. He
was right.
For most of its existence, until it went public in 2016, Visa was an
anomalous creature: a for-profit, non-stock corporation based on the
principle of self-organisation, embodying both chaos and order. Hock
even coined a term for it: “chaordic”.
Libra envisions a similar collaborative organisation among the
founding members of its Libra Association. But it turns Hock’s
principles upside down. The Libra Association is all about ownership and
control by its members as a club.
Big barriers to entry
And the Libra Association is a club with very high barriers to entry.
An entity has to invest at least US$10m in Libra or have more than US$1
billion in market value, among other criteria. The initial list of founding members tilts toward groups that have shown strong opposition to government interference
and oversight. Tellingly, there are no regulated financial
entities—like banks and fund managers—in the mix. The membership
represents a self-selecting crème de la crème of global tech and vulture capitalism.
Association membership guarantees a share of future profits
proportionate to a member’s stake in the system. Unlike Visa, members do
not compete with one another for market share. Instead, they will
passively collect rent from interest made on investing in the Libra
reserve basket. Plus, profits are not shared with users, and no interest
is paid on the balance held by individuals.
Being a club member also affords the right to vote—again, a lot like
Visa. But, unlike Visa, Libra gives voting right power based on
investment level, not participation. This is not democratic; it is a
plutocracy, where the wealthiest rule. And, as profits are linked solely
to interest on the association’s reserve funds, those managing it may
well become riskier and more speculative over time.
Libra’s white paper
outlines an organisation that could become a decentralised,
participatory system like Hock envisioned Visa would become. But Libra,
if it is successful, will likely become an undemocratic behemoth. Alarm
bells ring about a global currency’s de facto governance by a private,
exclusive club serving the purposes of its investor-owners, not the
public good.
Governments have long been suspicious of private currencies for good
reasons, and Libra is no exception. We must not be distracted by its
proposed technical complexity, and instead, focus on how this technology
is organised, put to work, and how its rewards are distributed. The
good news is that Facebook’s play for money may at last prompt
politicians to regulate tech giants to curb their impact on and
influence over society.
American Creek owns a 20% Carried Interest to
Production at the Treaty Creek Project in the Golden Triangle. 2019’s
first hole averaged 0.683 g/t Au over 780m
in a vertical intercept. The Treaty Creek property is located in the
same hydrothermal system as Pretivm and Seabridge’s KSM deposits.
Eric Sprott recently made a strategic 1$M investment in AMK
Lead by Shawn Ryan and Roger Moss, LAB has 2 district scale Gold
projects in Labrador that have never seen any modern exploration
techniques. Ashuanipi and Hopedale are being systematically explored for
gold potential utilizing the same techniques that created the White
Gold discoveries. At Ashuanipi , a 15km long by 2 to 6 km wide
north-south trend exists and a second 14 km long by 2 to 4 km wide
east-west trend exists. At Hopedale, 2019 exploration has discovered
two new mineralized showings.First showing extends potential strike
length by approximately 500 metres along strike of the Thurber Dog gold
occurrence; Second showing was discovered in the Misery North area
GGX gold has discovered high grade gold silver and tellurium in the
Greenwood-Republic mining camp, British Columbia. The current 2019 drill
program follows up on 2018 intercept of high grade gold-silver (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. In addition tellurium grades were announced with “up to 3,860 g/t telluriumâ€, including “823 g/t tellurium over 7.28-meter core length†and “640 g/t tellurium over 6.90-meter core length. 2019 drilling on COD North is currently underway.
Great Atlantic is situated between Marathon Gold and Sokoman in
Canada’s newest emerging gold district. The Company reported a NI
43-101mineral resource estimate for the JMZ in late 2018 on Golden
Promise and 2019 is focused on prospecting and geochemical sampling at
high priority targets within the property. Planned 24 hole program in
the northern half of the property at the gold-bearing Jaclyn Zone,
specifically at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ).
Posted by AGORACOM-JC
at 9:15 PM on Tuesday, August 6th, 2019
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Retailers See Promise in CBD and Hemp Products
CBD Hemp oil, Doctor holding a bottle of hemp oil, Medical marijuana products including cannabis leaf, cbd and hash oil, alternative medicine
Thanks to the passing of the Farm Bill in late 2018
– containing a provision legalizing hemp, a species of non-psychoactive
cannabis that CBD can be extracted from – Hemp and CBD are on major
retailers’ radar.
The CBD market is moving towards mainstream retailers and is projected to be over $20 Billion in sales by 2024.
Walgreens, Sprout, CVS, Ulta Beauty, GNC Holdings, Urban Outfitters are
just a handful of retailers offering or looking to offer, CBD products
to consumers.
According to Christina Hartwell from Little Mary and Jane â€the industry is on the verge of moving beyond merely CBD and exploring the full spectrum of Hemp (Cannabis Sativa L).â€
The potential of CBD and Hemp products appears to be endless due to newly emerging scientific data.
“The industry is on the verge of
moving beyond merely CBD and exploring the full spectrum of Hemp
(Cannabis Sativa L). Scientific studies thus far have been somewhat
limited due to the stumbling block of THC due to potential adverse side
effects and regulations. However, the studies being done on
full-spectrum Hemp and the multitude of Cannabinoids in the plant are
promising, CBN is beginning to come to the forefront and is potentially
more beneficial for treating Insomnia and Anxiety than Isolated CBD,â€
Hartwell added.
Retailers jumping in
Several retailers for natural
supplements are expected to have CBD on their shelves. Dillards
Department Store, a chain with a total of approximately 292 stores in 29
states, is beginning to roll out several Hemp Depot while labeled CBD
products. Kroger announced in July another 1,000 locations in 22 states where their grocery stores will begin to carry CBD products.
“Because of the tremendous range of
products in which CBD is a fit, we expect to see it on shelves,
literally, everywhere. Wholesale order numbers are climbing
dramatically, which is one of the first signs of significant market
expansion. When we started, we were taking orders for small companies
ordering 500 units at a time. Large company orders are projected to
reach 100,000+ units in the next 18 months which is going allow
wholesalers like Hemp Depot to manufacture products on a larger scale,
thereby reducing CBD product prices by the end of 2020 to a forecasted
$20 – $30 as with standard vitamin supplements,†said Andy Rodosevich,
CEO and Co-Founder of Hemp Depot.
In July, adding to the momentum,
Toronto-headquartered Abacus Health Products announced new retail
purchase orders from CVS for its line of CBDMEDIC pain relief and skincare products, sold to consumers via retail chains and the company’s e-commerce platform.
“We are encouraged to see the
continued interest and growth in CBDMEDIC among leading retailers
throughout the United States. In particular, the fact that CBDMEDIC
products are now being positioned in-line demonstrates the acceptance of
our over-the-counter products within the traditional pain relief and
skincare categories and we look forward to seeing the continued growth
in the number of retail locations in which CBDMEDIC is available,” said Perry Antelman, the CEO of Abacus Health Products, maker of CBD CLINIC and CBDMEDIC.
Also in July, Green Growth Brands announced a deal
with American Eagle to begin selling its CBD-infused body-care products
— including muscle balms and lotions — in nearly 500 of American
Eagle’s stores and online, with sales expected to begin in October. This
follows apparel retailer Abercrombie, which just last month announcing
its plans to sell GGB’s products in more than 160 stores across the U.S.
“The cultural conversation around CBD is growing and I think we are
beyond CBD being only for early adopters. The push to major retail
outlets like Kroger, Walgreens, and CVS seem to support that, said Paul
Miller from Lokus Nutrition.
Risks remain
The FDA is in the midst of creating
guidelines for CBD manufacturers and will likely eliminate some
manufacturers currently participating in the CBD boom and open the door
to some large scale, mainstream manufacturers. The details of the FDA
regulations will inform the specifics of how large the OTC piece of the
CBD pie becomes.
“We’ve seen major chain retailers
like CVS, Walgreens, and Whole Foods start to include CBD in their
product mixes. The larger the entity, the more likely they are to stick
with topical products until the FDA provides clarity,” said Kate Heckman
from Stratos CBD.
When it comes to CBD oils, presently
only 10% of demand is being filled by present growers, the industry has
increased by 200% from 2017 to 2018, about 618 million in sales last
year with projected 22 Billion by 2022.
“A lot of people want to get into
this arena. Some of the problems we are working on are Standardization
of the industry, Genetic variations, for patents and Lab Certification.
It is the wild west, with little or no standard dosages or diagnosis for
the public to rely on,†said John Sation, Clinic Director, and research
Coordinator from Hair & Scalp Clinics.
The recent FDA warning letter to Curaleaf on
July 26 serves as a wake-up call to the industry about statements in
marketing or social media that imply that these products can be used to
treat medical conditions.
“It’s in the best interest of the
industry to be careful and conservative with any label claims being
made. With the passing of the 2018 Farm Bill, each state department of
agriculture must submit a state management plan to the USDA outlining
how various aspects of hemp cultivation and processing will be managed
within their jurisdiction,†said Dr. Sean Callan, CEO of Precision Botanical.
While the opportunity is real, risks remain. According to David Gross from Strategic Value Partners, players in the space should tread carefully as the regulatory framework is currently only taking shape.
“Don’t be first here. By all
indications, the FDA appears poised to take aggressive and decisive
action, as evidenced by the Curaleaf warning letter, against companies
who manufacture, distribute, and retail CBD products. Moreover, the Drug
Enforcement Agency (DEA), Department of Agriculture, and financial
regulators (i.e., FDIC, OOC, and Federal Reserve) remain unknowns. In
the near-term, any benefit you might receive from being first is far
outweighed by the business and reputational risk of a potential FDA
action or a multi-state federal raid at your warehouses.â€
World’s largest fund manager lost $90bn investing in fossil fuel companies
BlackRock’s multibillion-dollar investments in the world’s largest oil companies – including ExxonMobil, Chevron, Shell, and BP – were responsible for the bulk of these losses
The report, from the Institute for Energy Economics and Financial Analysis (IEEFA), found that BlackRock has eroded the value of its $6.5 trillion funds by betting on oil companies that were falling in value and by missing out on growth in clean energy investments.
BlackRock, the world’s largest fund manager with $6.5 trillion of
assets under management – bigger in value than the world’s third-largest
economy (Japan) – continues to ignore the serious financial risks of
putting money into fossil fuel-dependent companies, a new report has
found.
The report,
from the Institute for Energy Economics and Financial Analysis (IEEFA),
found that BlackRock has eroded the value of its $6.5 trillion funds by
betting on oil companies that were falling in value and by missing out
on growth in clean energy investments.
BlackRock’s investments lost investors an estimated $90 billion over
the past decade “due largely to ignoring global climate risk,†the
report said.
The report also found that BlackRock’s multibillion-dollar
investments in the world’s largest oil companies – including ExxonMobil,
Chevron, Shell, and BP – were responsible for the bulk of these losses.
The report added that BlackRock should reduce the influence of those
with connections to the fossil fuel industry on its board, a
recommendation the investment giant continues to ignore.
Tim Buckley, IEEFA Director of Energy Finance Studies and co-author
of the report says due to its enormous size, BlackRock should
demonstrate stronger leadership.
“If the world’s largest investor makes it clear the rules have
changed, then other globally significant investors like Fidelity,
Vanguard and Japan’s sovereign wealth fund will rapidly replicate and
reinforce these moves, reducing stranded asset risks for all,†he said.
In its defense, via a statement to UK’s Guardian newspaper,
BlackRock said they give clients the option of investing in
environmentally and socially responsible funds and that these funds,
make up 0.8 percent of its entire portfolio.
“BlackRock should be given some credit,†says Derick Lila, Managing
Director at pvbuzz.com. “I believe the company is making strides in
diversifying its portfolio – and a notable example is the company’s
recent push towards distributed solar and storage.â€
Only last month, BlackRock aquired a majority stake
in GE’s solar business, giving the investment giant footing in a
growing market that offers solar and storage solutions to the
commercial, industrial and public sectors.
“While the company’s investments in clean energy isn’t as impressive
as some of us in the business would like, we also have to understand
they are Fund Managers,†Derick Added.
American Creek owns a 20% Carried Interest to
Production at the Treaty Creek Project in the Golden Triangle. 2019’s
first hole averaged 0.683 g/t Au over 780m
in a vertical intercept. The Treaty Creek property is located in the
same hydrothermal system as Pretivm and Seabridge’s KSM deposits.
Eric Sprott recently made a strategic 1$M investment in AMK
Lead by Shawn Ryan and Roger Moss, LAB has 2 district scale Gold projects in Labrador that have never seen any modern exploration techniques. Ashuanipi and Hopedale are being systematically explored for gold potential utilizing the same techniques that created the White Gold discoveries. At Ashuanipi , a 15km long by 2 to 6 km wide north-south trend exists and a second 14 km long by 2 to 4 km wide east-west trend exists. At Hopedale, 2019 exploration has discovered two new mineralized showings.First showing extends potential strike length by approximately 500 metres along strike of the Thurber Dog gold occurrence; Second showing was discovered in the Misery North area
GGX gold has discovered high grade gold silver and tellurium in the
Greenwood-Republic mining camp, British Columbia. The current 2019 drill
program follows up on 2018 intercept of high grade gold-silver (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. In addition tellurium grades were announced with “up to 3,860 g/t telluriumâ€, including “823 g/t tellurium over 7.28-meter core length†and “640 g/t tellurium over 6.90-meter core length. 2019 drilling on COD North is currently underway.
Great Atlantic is situated between Marathon Gold and Sokoman in
Canada’s newest emerging gold district. The Company reported a NI
43-101mineral resource estimate for the JMZ in late 2018 on Golden
Promise and 2019 is focused on prospecting and geochemical sampling at
high priority targets within the property. Planned 24 hole program in
the northern half of the property at the gold-bearing Jaclyn Zone,
specifically at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ).
Posted by AGORACOM-JC
at 3:38 PM on Tuesday, August 6th, 2019
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———————–
Shanghai sets the standards for building esports arenas
Shanghai has taken another stride toward building itself into a global esports centre, as it announced standards for the construction and operation of esports venues during the China Digital Entertainment Expo and Conference which ended on Monday.
“The esports sector has been growing quickly in the past few years, but there is a lack of top design. The guidelines can boost industry growth in a healthy manner,” Yu Xiufen, director of the bureau, was quoted as saying by Xinmin Evening News.
Published by the municipal culture and tourism bureau, the standards
for esports venues specify the construction requirements in areas such
as stage lighting and telecommunication networks and set the service
standards for operating such venues.
“The esports sector has been growing quickly in the past few years,
but there is a lack of top design. The guidelines can boost industry
growth in a healthy manner,” Yu Xiufen, director of the bureau, was
quoted as saying by Xinmin Evening News.
The criteria for esports venues have four categories, from A to
D.With a construction area of more than 50,000 square meters, class-A
venues can host the highest level esports competitions, while class-D
venues must have a 500-square meter construction area, and will be used
to hold qualification trials.
One of the most important upcoming esports events in the city is The
International 2019, an annual tournament for the popular multiplayer
online battle arena game Dota 2, which will be held in the Mercedes-Benz
Arena, a class-A venue, from Aug 16 to 25.
It will be the first time for China to host one of the most-watched
esports events in the world. Its crowdfunded prize pool reached a record
of more than $30 million (S$41.5 million) in July and is still growing.
According to Perfect World Zhengqi, a subsidiary of Perfect World Co
Ltd and the operator of the game in China, the event’s 26,804 tickets
were sold out in just 53 seconds in May.
“We have organised many esports events in Shanghai before, so we know
the venues here are excellent and the viewers are very active,” said
Xiao Hong, CEO of the company. “Shanghai has the best environment for
esports in the country – both in facilities and government policies, and
we’d like to co-operate with the government to build mature industrial
chains in the future.”
Wang Yong, deputy secretary-general of Shanghai Esports Association,
said the development of esports includes not only hosting tournaments,
but also esports training, performance and public experience, which
requires a number of esports venues of different sizes and functions.
Many shopping malls are interested in building esports venues, and
these standards will help them find the right partners, Wang added.
A report published by gaming industry analyst company Gamma Data
estimated that esports market revenue in Shanghai reached 14.6 billion
yuan (S$2.9 billion) in 2018, accounting for 19 per cent of the national
total.
Posted by AGORACOM
at 3:16 PM on Tuesday, August 6th, 2019
SPONSOR: Lomiko Metals LMR:TSX-V – A Canadian exploration-stage company discovered high-grade graphite at its La Loutre Property in Quebec and is working toward a Pre-Economic Assessment (PEA) that will increase its current indicated resource of 4.1 Mt of 6.5% Cg to over 10 Mt of 10%+ Cg through a 21 hole program at the Refractory Zone. Click Here For More Information
Dahn is considered a pioneer in Li-ion battery cells.
His work now focuses mainly on a potential increase in energy density and durability, while also decreasing the cost.
Jeff Dahn, the head of Tesla’s battery research group in Halifax,
talks about achieving $100 kWh cost of battery cells, removing cobalt
from cells, and more in a rare new interview.
Dahn is considered a pioneer in Li-ion battery cells. He has been
working on the Li-ion batteries pretty much since they were invented. He
is credited for helping increase the life cycle of the cells, which
helped their commercialization.
His work now focuses mainly on a potential increase in energy density and durability, while also decreasing the cost.
In 2016, Dahn transitioned his research group from their 20-year research agreement with 3M to a new association with Tesla under the newly formed ‘NSERC/Tesla Canada Industrial Research’.
Through the agreement, Tesla invested in a new research lab close to Dahn’s group near Halifax, Nova Scotia.
Dahn is also on board with the latest projections that battery cell cost should go below $100 kWh within the next few years.
The milestone has been described as the tipping point that makes
battery-electric vehicles cost-competitive with gasoline cars on a
massive scale.
I also found it interesting how Dahn has a very similar approach to
Elon Musk when it comes to evaluating new battery technologies. He said:
“Until you put it in a prototype and you demonstrate that
it’s a manufacturable item and economically viable, you can’t jump and
down too muchâ€
That’s something we hear Elon say a lot every time new battery technologies are announced.
Posted by AGORACOM
at 2:39 PM on Tuesday, August 6th, 2019
A 3D Induced Polarization (IP) geophysical survey on its Tabasquena project in Zacatecas, Mexico is underway.
Survey designed to complement and enhance current 3D model of Tabasquena Epithermal veins
Goal of the survey is to assess the depth potential below the near surface mineralized zone
Kamloops, British Columbia–(Newsfile Corp. – August 6, 2019) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to announce that a 3D Induced Polarization (IP) geophysical survey on its Tabasquena project in Zacatecas, Mexico is underway. This geophysical survey is designed to complement and enhance the 3D model derived from the recent drilling which confirmed a widespread gold and silver mineralized epithermal vein system.
Prior to Advance Gold acquiring the project, a limited IP survey had
been carried out. This historical IP survey effectively identified three
of the known veins as significant chargeability and resistivity
anomalies.
The goal of the survey is to assess the depth potential below the
near surface mineralized zone that was encountered in the andesites,
with the graphitic phyllites below still open at depth. It is important
to note that the vein systems in the nearby mines operated by Fresnillo
Plc., and MAG Silver’s Juanicipio mine currently under construction, are
epithermal veins systems focused on zones within the graphitic
phyllites.
The 3D IP geophysical survey will take thousands of data point
readings on an 800 X 500 metre grid. It is designed to give a clearer
picture of anomalies adjacent to and below the current drilling, which
is primarily down to 300 metres, and possibly see down to approximately
600 metres.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “We
are in a unique position for a gold and silver explorer as having found
a fully intact epithermal vein system. This is a fairly rare
occurrence. Making things somewhat challenging is that with a system
like this, the boiling zone of the system is deeper. This is the case in
all of the nearby mines around the cities of Fresnillo and Zacatecas,
Mexico. The mines are hosted in the graphitic phyllites below the
andesites. We have drilled a widespread zone of gold and silver
mineralization in the andesites at Tabasquena. Hopefully, once the
geophysical survey is completed we will be better able to focus our
deeper drilling in the search for the boiling zone of the system. With
the gold and silver markets gaining strength, it is a very exciting time
for us to be advancing this exceptional project. In addition to the
technical merits of the project, we are in one of the most prolific
mining regions worldwide for silver as 10% of the historical world
silver production comes from the state of Zacatecas, from epithermal
vein systems. Since we made the discovery of this system approximately
one year ago, the gold and silver markets have gone from being subdued
to much more optimistic. One of the defining attributes of this region,
in addition to the prolific mines, is that the costs for exploration,
development and mining are some of the lowest in the mining sector. We
have a highly prospective project at Tabasquena, are doing the work to
advance the project, have a small and tight share structure and will be
delivering crucial news as the market for gold and silver are improving
yet the menu for investors to choose from is small when it comes to the
exploration of quality projects.”
Julio Pinto Linares is a QP, Doctor in Geological Sciences with
specialty in Economic Geology and Qualified Professional No. 01365 by
MMSA., and QP for Advance Gold and is the qualified person as defined by
National Instrument 43-101 and he has read and approved the accuracy of
technical information contained in this news release.
About Advance Gold Corp. (TSXV: AAX)
Advance Gold is a TSX-V listed junior exploration company focused on
acquiring and exploring mineral properties containing precious metals.
The Company acquired a 100% interest in the Tabasquena Silver Mine in
Zacatecas, Mexico in 2017, and the Venaditas project, also in Zacatecas
state, in April, 2018.
The Tabasquena project is located near the Milagros silver mine near
the city of Ojocaliente, Mexico. Benefits at Tabasquena include road
access to the claims, power to the claims, a 100-metre underground shaft
and underground workings, plus it is a fully permitted mine.
Venaditas is well located adjacent to Teck’s San Nicolas mine, a VMS
deposit, and it is approximately 11km to the east of the Tabasquena
project, along a paved road.
In addition, Advance Gold holds a 14.63% interest on strategic claims
in the Liranda Corridor in Kenya, East Africa. The remaining 85.37% of
the Kakamega project is held by Acacia Mining (63% owned by Barrick Gold
Corporation).
For further information, please contact: Allan Barry Laboucan, President and CEO Phone: (604) 505-4753 Email: [email protected]