Global investor responses to the International Sustainability Standards Board draft sustainability and climate-change standards: Sites of dissonance or consensus

PurposeThis paper aims to examine sites of dissonance or consensus between global investor responses to the draft standards, International Financial Reporting Standards S1 (IFRS) (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), issued by the International Sustainability Standards Board (ISSB).Design/methodology/approachA thematic content analysis was used to capture investor views expressed in their comment letters submitted in the consultation period (March to July 2022) in comparison to the ex ante position (issue of draft standards, March 2022) and ex post summary feedback (ISSB staff papers, September 2022) of the ISSB.FindingsThere was investor consensus in support of the ISSB and the development of the draft standards. However, there were sites of dissonance between investors and the ISSB, notably regarding the basis and focus of reporting (double or single/financial materiality and enterprise value); definitional clarity; emissions reporting; and assurance. Incrementally, the research further highlights that investors display heterogeneity of opinion.Practical and Social implicationsThe ISSB standards will provide a framework for future sustainability reporting. This research highlights the significance of such reporting to investors through their responses to the draft standards. The findings reveal sites of dissonance in the development and alignment of draft standards to user needs. The views of investors, as primary users, should help inform the development of sustainability-related standards by a global standard-setting body apposite to current policy and future reporting requirements, and their usefulness to users in practice.Originality/valueTo the best of the authors’ knowledge, this paper makes an original contribution to the comment letter literature, hitherto focused on financial reporting with a relative lack of investor engagement. Using thematic analysis, sites of dissonance are examined between the views of investors and the ISSB on their development of sustainability reporting standards

European Novel Foods Policy at a critical juncture: drawing lessons for future Novel Food Governance through a retrospective examination of Regulation 258/97

This paper presents a timely analysis of the European Union (EU) Novel Foods Regulation EC 258/97, identifying trends in the policy process and the applications that have been made under the regulation. The ways that the Novel Foods Regulation has functioned to govern new foods placed on the European market is considered, and a number of important trends are described. A historical account of EU policy regarding novel foods is presented, including an analysis of the changes to Novel Foods Regulation and an analysis of data drawn from the European Commission’s own records of novel foods applications is conducted. The ways Novel Foods Regulation has functioned to govern new foods placed on the European market is revealed. A number of important trends in full applications are explored, along with substantial equivalence applications and unapproved foods that are placed on the market. This data is used to analyze the empirical legitimacy of the recent amendments to EU novel foods governance which will come into force in 2018, suggesting that change was needed, and supports the centralizing approach taken by the Commission. However, the analysis identifies potential risks and uncertainties in recent amendments to EU novel foods governance and considers the challenges of Brexit to the novel foods regime

The effect of central contracts on the stability and performance of the England Test cricket team. [El efecto de contratos centrales sobre la estabilidad y el desempeño del equipo inglés de Test cricket].

In 1999 the England and Wales Cricket Board (ECB) decided to implement central contracts for elite player management to give them control over a group of players to represent the England national team in Test cricket. The purpose of this paper is to investigate the impact that this change in policy has had on the stability and performance of the England Test team, and discuss implications thereof. Using a sample of 13 seasons pre-central contracts (1987-1999) and 13 seasons post-central contracts (2000-2012), the results, from secondary analysis of England’s Test match scorecards from both sample periods, allowed investigation of team performance and stability. To gain a greater understanding of how central contracts impacted on the England Test side, eight interviews were also organised with key stakeholders in English cricket. The results showed that both the stability and performance of the England Test side improved considerably in the sample period postcentral contracts (2000-2012) with a much greater consistency of selection (fewer changes per match) alongside an improvement in England’s on-field performance (better win ratio and points per match). The paper identifies two key challenges facing the current player management system in England from domestic and external sources

FLOWERING LOCUS C -dependent and -independent regulation of the circadian clock by the autonomous and vernalization pathways

Background The circadian system drives pervasive biological rhythms in plants. Circadian clocks integrate endogenous timing information with environmental signals, in order to match rhythmic outputs to the local day/night cycle. Multiple signaling pathways affect the circadian system, in ways that are likely to be adaptively significant. Our previous studies of natural genetic variation in Arabidopsis thaliana accessions implicated FLOWERING LOCUS C (FLC) as a circadian-clock regulator. The MADS-box transcription factor FLC is best known as a regulator of flowering time. Its activity is regulated by many regulatory genes in the "autonomous" and vernalization-dependent flowering pathways. We tested whether these same pathways affect the circadian system. Results Genes in the autonomous flowering pathway, including FLC, were found to regulate circadian period in Arabidopsis. The mechanisms involved are similar, but not identical, to the control of flowering time. By mutant analyses, we demonstrate a graded effect of FLC expression upon circadian period. Related MADS-box genes had less effect on clock function. We also reveal an unexpected vernalization-dependent alteration of periodicity. Conclusion This study has aided in the understanding of FLC's role in the clock, as it reveals that the network affecting circadian timing is partially overlapping with the floral-regulatory network. We also show a link between vernalization and circadian period. This finding may be of ecological relevance for developmental programing in other plant species

Quarterly Technical Report, Reporting Period: July 1, 2003 - September 30, 2003

With the Nation's coal-burning utilities facing the possibility of tighter controls on mercury pollutants, the U.S. Department of Energy is funding projects that could offer power plant operators better ways to reduce these emissions at much lower costs. Mercury is known to have toxic effects on the nervous system of humans and wildlife. Although it exists only in trace amounts in coal, mercury is released when coal burns and can accumulate on land and in water. In water, bacteria transform the metal into methylmercury, the most hazardous form of the metal. Methylmercury can collect in fish and marine mammals in concentrations hundreds of thousands times higher than the levels in surrounding waters. One of the goals of DOE is to develop technologies by 2005 that will be capable of cutting mercury emissions 50 to 70 percent at well under one-half of today's costs. ADA Environmental Solutions (ADA-ES) is managing a project to test mercury control technologies at full scale at four different power plants from 2000-2003. The ADA-ES project is focused on those power plants that are not equipped with wet flue gas desulfurization systems. ADA-ES has developed a portable system that will be tested at four different utility power plants. Each of the plants is equipped with either electrostatic precipitators or fabric filters to remove solid particles from the plant's flue gas. ADA-ES's technology will inject a dry sorbent, such as activated carbon, which removes the mercury and makes it more susceptible to capture by the particulate control devices. A fine water mist may be sprayed into the flue gas to cool its temperature to the range where the dry sorbent is most effective. PG&E National Energy Group is providing two test sites that fire bituminous coals and both are equipped with electrostatic precipitators and carbon/ash separation systems. Wisconsin Electric Power Company is providing a third test site that burns Powder River Basin (PRB) coal and has an electrostatic precipitator for particulate control. Alabama Power Company will host a fourth test at its Plant Gaston, which is equipped with a hot-side electrostatic precipitator and a downstream fabric filter. During the twelfth reporting quarter, progress was made on the project in the following areas: All Test Sites--Ongoing data and sample analysis for the two remaining plants is nearly complete as well as work on the final reports. Technology Transfer--A number of technical presentations and briefings were made during the quarter. Several papers were presented at Air Quality IV in Washington D.C

Field Test Program to Develop Comprehensive Design, Operating and Cost Data for Mercury Control Systems on Non-Scrubbed Coal-Fired Boilers

With the Nation's coal-burning utilities facing the possibility of tighter controls on mercury pollutants, the U.S. Department of Energy is funding projects that could offer power plant operators better ways to reduce these emissions at much lower costs. Mercury is known to have toxic effects on the nervous system of humans and wildlife. Although it exists only in trace amounts in coal, mercury is released when coal burns and can accumulate on land and in water. In water, bacteria transform the metal into methylmercury, the most hazardous form of the metal. Methylmercury can collect in fish and marine mammals in concentrations hundreds of thousands times higher than the levels in surrounding waters. One of the goals of DOE is to develop technologies by 2005 that will be capable of cutting mercury emissions 50 to 70 percent at well under one-half of today's costs. ADA Environmental Solutions (ADA-ES) is managing a project to test mercury control technologies at full scale at four different power plants from 2000-2003. The ADA-ES project is focused on those power plants that are not equipped with wet flue gas desulfurization systems. ADA-ES has developed a portable system that will be tested at four different utility power plants. Each of the plants is equipped with either electrostatic precipitators or fabric filters to remove solid particles from the plant's flue gas. ADA-ES's technology will inject a dry sorbent, such as activated carbon, which removes the mercury and makes it more susceptible to capture by the particulate control devices. A fine water mist may be sprayed into the flue gas to cool its temperature to the range where the dry sorbent is most effective. PG&E National Energy Group is providing two test sites that fire bituminous coals and both are equipped with electrostatic precipitators and carbon/ash separation systems. Wisconsin Electric Power Company is providing a third test site that burns Powder River Basin (PRB) coal and has an electrostatic precipitator for particulate control. Alabama Power Company will host a fourth test at its Plant Gaston, which is equipped with a hot-side electrostatic precipitator and a downstream fabric filter. During the ninth reporting quarter, progress was made on the project in the following areas: PG&E NEG Salem Harbor Station -- Long term testing and equipment decommissioning has been completed, A web cast/conference call was held to review data, and Preliminary preparation and review of data and test results for the final report. Technology Transfer -- A number of technical presentations and briefings were made during the quarter. Notable among them was a Program Status Report presented to NETL. Also, one paper was presented at Power-Gen and one at the Annual Coal Marketing Strategies Conference

Quarterly Technical Report, Reporting Period: July 1, 2002 - September 30, 2002

With the Nation's coal-burning utilities facing the possibility of tighter controls on mercury pollutants, the U.S. Department of Energy is funding projects that could offer power plant operators better ways to reduce these emissions at much lower costs. Mercury is known to have toxic effects on the nervous system of humans and wildlife. Although it exists only in trace amounts in coal, mercury is released when coal burns and can accumulate on land and in water. In water, bacteria transform the metal into methylmercury, the most hazardous form of the metal. Methylmercury can collect in fish and marine mammals in concentrations hundreds of thousands times higher than the levels in surrounding waters. One of the goals of DOE is to develop technologies by 2005 that will be capable of cutting mercury emissions 50 to 70 percent at well under one-half of today's costs. ADA Environmental Solutions (ADA-ES) is managing a project to test mercury control technologies at full scale at four different power plants from 2000-2003. The ADA-ES project is focused on those power plants that are not equipped with wet flue gas desulfurization systems. ADA-ES has developed a portable system that will be tested at four different utility power plants. Each of the plants is equipped with either electrostatic precipitators or fabric filters to remove solid particles from the plant's flue gas. ADA-ES's technology will inject a dry sorbent, such as activated carbon, which removes the mercury and makes it more susceptible to capture by the particulate control devices. A fine water mist may be sprayed into the flue gas to cool its temperature to the range where the dry sorbent is most effective. PG&E National Energy Group is providing two test sites that fire bituminous coals and both are equipped with electrostatic precipitators and carbon/ash separation systems. Wisconsin Electric Power Company is providing a third test site that burns Powder River Basin (PRB) coal and has an electrostatic precipitator for particulate control. Alabama Power Company will host a fourth test at its Plant Gaston, which is equipped with a hot-side electrostatic precipitator and a downstream fabric filter. During the eighth reporting quarter, progress was made on the project in the following areas: (1) PG&E NEG Salem Harbor Station--Sorbent injection equipment was installed at the site during the quarter; Test plans were prepared for the field-testing phase of the project; and Baseline testing was completed during the quarter. (2) Technology Transfer--A number of technical presentations and briefings were made during the quarter. Notable among them was a paper published in the JAWMA. Also, two papers were presented at the Air Quality III Conference and one at the Pittsburgh Coal Conference