The largest asset owner signatory, the $191.4bn California State Teachers’ Retirement System (CalSTRS), said that water management could have a “material impact” on portfolio value.Referencing the ongoing drought hitting the western US, the fund’s director of corporate governance, Anne Sheehan, said: “In California, we are keenly aware of how water scarcity can impact lives and businesses, as our state struggles to manage a depleting water supply.”Hervé Guez, director of research at asset management signatory Mirova added: “Better disclosure of water risks is the first step, but ultimately we’d like to see the companies in our portfolios moving from risk to opportunity with innovative water management strategies.”Water management has gradually risen in prominence as a matter to be tackled by institutions. Sweden’s AP4 in July tendered a water scarcity equity mandate.Additionally, investors including the Norwegian Government Pension Fund Global and the California Public Employees’ Retirement System have previously spoken of the advantages of greater transparency over water management, and asset owners have been urged to set a more proactive tone when engaging over water risk.Read more about why asset owners should monitor water risk,WebsitesWe are not responsible for the content of external sitesLink to letter organised by US Interfaith Center on Corporate Responsibility Investors worth $2.6trn (€2.3trn) are urging over a dozen of the world’s largest food companies to better assess risks associated with water management, stemming both from direct operations and supply chains.Backed by 60 institutions, including the £5bn (€6bn) Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC) and BT Pension Scheme-owned Hermes Investment Management, the letter urged companies to tackle the risks it argued were having a “profound near-term business impacts”.It added that the risks could increase capital expenditure and operating costs, thus putting future revenue at risk.As a result, it asked for the firms – including Kraft Heinz, Fresh Del Monte Produce and drinks manufacturer Dr Pepper Snapple – to disclose if the board was responsible for water management and what steps were taken to monitor the water usage of suppliers.
This photo provided by Grinnell College shows Jack Taylor driving for a layup. (AP Photo/Grinnell College, Justin Hayworth)GRINNELL, Iowa (AP) — Jack Taylor renewed his membership in the Century Club.Taylor scored 109 points for Division III Grinnell College on Sunday, shooting 24-for-48 on 3-pointers in a 173-123 win over Crossroads. He poured in 53 during the first nine minutes of the second half.The 5-foot-10 guard from Black River Falls, Wis., set an NCAA record for any level by scoring 138 points last Nov. 20 in a 179-104 win over Faith Baptist Bible College.The only other player to score more than 109 in an NCAA game was Rio Grande’s Clarence “Bevo” Francis, who had 113 against Hillsdale in 1954.Against Crossroads College, in Rochester, Minn., Taylor was 35 of 70 overall from the field while playing only 29 minutes. He made 15 of 17 foul shots.“Just like last year, I couldn’t have done this without my teammates,” Taylor said. “I give so much credit to them. This truly was a team effort. I’m thankful for the program and the people I have playing with me.”Taylor scored 71 points in the Pioneers’ 144-99 victory Friday in the season opener against Finlandia.