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British funds tell Texas: emission-cut vows matter for our reputation

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British funds tell Texas: emission-cut vows matter for our reputation


Smoke rises above a manufacturing facility at sundown in Rugby, Britain February 10, 2021. REUTERS/Matthew Childs/

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Might 12 (Reuters) – Two massive British asset managers have defended their efforts to scale back emissions to Texas officers and mentioned their companies may face reputational dangers if they didn’t comply with by way of on carbon-cutting commitments.

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The letters from Man Group PLC (EMG.L) and from abrdn plc, (ABDN.L) reviewed by Reuters following a public data request, are in response to a brand new state regulation in Texas that claims that firms discovered to be boycotting the fossil gasoline business may very well be barred from operating pension fund cash within the state.

Many monetary executives have pledged to push for greenhouse gasoline emissions cuts by portfolio firms. However that has drawn the ire of U.S. Republicans, who say they’re imposing environmental restrictions on debtors exterior of regular coverage channels. Few main asset managers have adopted some universities in divesting from fossil fuels outright. learn extra

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At stake with the brand new Texas regulation are property together with $1.4 billion that Man Group of London runs for the Trainer Retirement System of Texas, and $59.7 million the system has with abrdn of Edinburgh, previously Customary Life Aberdeen. learn extra

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Whether or not they can preserve that cash is partly as much as Texas Comptroller Glenn Hegar, who in March started sending out data requests to some 158 firms, with responses due from this month. learn extra

The letters from Man and abrdn mark the primary detailed responses from main firms to Hegar’s request which were made public.

Each Man and abrdn wrote that they don’t have firmwide restrictions towards investing in power firms and usually are not boycotting them.

Fairly, requested in the event that they dedicated to environmental requirements past federal or state legal guidelines, Man and abrdn described their membership within the Web Zero Asset Managers Initiative.

Signatories, together with a lot of the world’s prime fund companies, decide to urgent firms of their portfolios to realize internet zero emissions by 2050 or sooner to restrict world warming. learn extra

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Man and abrdn famous the hassle didn’t require them to divest from fossil fuels.

As an alternative, the businesses mentioned, they may see their good names tarnished if they didn’t ship emissions cuts because the voluntary business group seeks.

“We’d be uncovered to reputational dangers if we don’t fulfil our commitments,” abrdn wrote within the letter dated April 28.

An abrdn consultant mentioned executives weren’t obtainable to remark additional.

The same letter from Man Group despatched April 19 states it may very well be tossed out of the initiative if it doesn’t meet its targets.

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“This will have reputational, company rankings and/or client-related penalties for Man Group. There are, nevertheless, no authorized or direct financial penalties of not fulfilling its commitments beneath the initiative,” based on the letter.

Man declined to remark additional.

A spokesman for Hegar mentioned he wouldn’t touch upon the responses. The objective is to create a listing of firms discovered to be boycotting the fossil gasoline business by Sept. 1, mentioned the spokesman, Kevin Lyons. Corporations on the checklist may then be barred from operating public pension fund cash in Texas.

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Reporting by Ross Kerber in Boston, extra reporting by Simon Jessop in London, Modifying by Rosalba O’Brien

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Texas Energy Company to Pay $260K to Settle Racial Harassment Lawsuit

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Texas Energy Company to Pay $260K to Settle Racial Harassment Lawsuit


A Texas energy company will pay a $265,000 fine to settle charges that it subjected Black and Hispanic field mechanics to harassment.

The U.S. Equal Employment Opportunity Commission (EEOC) announced last week that Liberty Energy, Inc. doing business as Liberty Oilfield Services, LLC, will settle a race and national origin discrimination lawsuit brought on behalf of three mechanics.

According to the EEOC lawsuit, a Black field mechanic and two Hispanic co-workers at Liberty Energy’s Odessa, Texas location were subjected to a hostile environment and referred to in derogatory terms, including use of the N-word and other slurs such as “beaner” and “wetback.”

Liberty Energy is an oilfield service firm offering technologies to onshore oil and natural gas exploration across North America.

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The employees alleged that they made reports to supervisors, management, and human resources about the discriminatory treatment, but no effective corrective or remedial action was taken by the company.

The EEOC’s suit charged that after making his report, the Black mechanic was forced by management to perform undesirable work tasks and was isolated by his peers. With no meaningful action by company management to change the workplace atmosphere and the discriminatory assignments that followed his complaint, he was ultimately left no alternative but to resign.

The alleged conduct violated Title VII of the Civil Rights Act of 1964, which prohibits discrimination based on race and national origin. The EEOC filed suit, Civil Action No. 7:23-cv-00100, in U.S. District Court for the Western District of Texas, Midland-Odessa Division, after first attempting to reach a pre-litigation settlement through its conciliation process.

Under the two-year consent decree resolving the suit, in addition to monetary relief for the employees, Liberty Energy will adopt and distribute a policy for all human resources and management personnel to effectively respond to reports to discrimination; post a notice in the workplace informing employees of the settlement; adopt and develop a 1-800 hotline for reporting acts of discrimination and/or harassment; and provide specialized training to employees on the federal laws that prohibit employment discrimination, including Title VII.

Source: EEOC

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Texas universities' graduation ceremonies will go on as planned

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Texas universities' graduation ceremonies will go on as planned


While some major universities are canceling graduation commencements or scaling them back, Texas universities plan to go on with graduation as planned.

UT Austin also updated its security policy for this weekend’s commencement. Hecklers will be removed, and any kind of protest on the campus will be blocked.

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Ut Austin President Jay Hartzell referenced that the 2024 graduates had their high school graduation canceled in 2020 due to the pandemic. 

Many reached out for assurance that graduation will go on as planned. Hartzell confirmed it will happen while adding the university will be ready to ensure everyone will be protected. 

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Wednesday, Hartzell sent out a video message to the nearly 11,000 graduates and anyone attending this week’s graduation.

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“Graduates we will have no tolerance for any disruption for your special and hard-earned achievement,” he said.

The university-wide commencement takes place at the football stadium on Saturday evening after all the college-specific convocations. 

Hartzell confirms all ceremonies will go on as planned while referencing the recent protests, encampments and arrests on campus. 

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“There are devastating world events that continue to dominate our attention and energy. People continue to express themselves in different and personal and heartfelt ways,” he said. “We support them and have supported them each and every time when the intent is to use our campus as a platform to lawfully protest and have their expressions heard.”

More than 100 people have been arrested on the Austin campus in the past two weeks.

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On April 29, protesters created a surprise encampment, causing police and DPS troopers to step in. 

According to UT Austin’s commencement conduct guidelines, heckling speakers who cause any disruption will be removed. 

Also, attendees, graduates and outside demonstrations cannot block entrances, exits or pathways in and around campus.

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In North Texas, UT Arlington confirms to FOX 4 that its Friday commencement is also on. It says its ceremonies are ticketed and secure events held at Globe Life Field. 

 A week ago, a small group of protesters complied with university guidelines by calling their demonstration an informal encampment. 

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Graduation will also continue at UNT, where a peaceful protest was held on the Denton campus for a few hours. 

FOX 4 reached out to UT Dallas multiple times for commencement specifics, but we did not hear back. But online, their commencement schedule is still posted as planned. 



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Texas A&M Veterinarians Work Around The Clock To Save Newborn Foal

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Texas A&M Veterinarians Work Around The Clock To Save Newborn Foal


Large animal internal medicine resident Sally Alpini and Dr. Amanda Trimble examine Vicky, a German warmblood filly who came to the Texas A&M University Large Animal Teaching Hospital in need of intensive care immediately following birth.


Photo by Jason Nitsch ’14/Texas A&M School of Veterinary Medicine and Biomedical Sciences

 

Queen Victoria, the German warmblood filly, proved her strength at a young age, just like her namesake, the United Kingdom’s former monarch who took the throne at only 18 years old.

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Almost immediately after birth, the foal, nicknamed Vicky, became separated from her mother, Queenie, after rolling into an adjoining stall. Their few hours apart would have serious consequences because Vicky missed out on some of the special care a mother horse, called a dam, provides in the first few hours of a foal’s life.

When her owner, Dr. Gavin Britz, learned of the incident, he turned to the Texas A&M Large Animal Teaching Hospital (LATH) to nurse Vicky back to health, a two-week process that involved intensive care, special techniques and surgery.

While Vicky came to the LATH in great need of exceptional veterinary care, she left a healthy, spunky filly thanks to her talented veterinary team and dedicated owner.

Building A Legacy

Britz, a Houston neurosurgeon, has loved horses since he was a boy. He has participated in jumping and dressage competitions over the years, and his current focus is on breeding, specifically for the German warmblood.

“I’m setting up a warmblood breeding operation and bringing some of the best horses in Europe to America,” Britz said. “One of my close friends, a world-class German breeder named Stefanie Lohmann, owned Queenie before and said she wanted me to have her because she’s such a special mare.”

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When Britz purchased Queenie, he wasn’t just getting the mare; she was also pregnant with a foal sired by Vitalis, a famous warmblood stud.

Because of transportation delays, Queenie didn’t arrive at Britz’s stable in Chappell Hill, Texas, until about two-and-a-half weeks before her due date. She then went into labor sooner than expected, giving birth a week early — late in the night on Valentine’s Day.

The barn manager found Vicky in the adjoining stall only hours later, but the foal had already missed out on colostrum — a preliminary form of milk that contains extra nutrients, antibodies, and antioxidants that is normally passed from mother to baby in the first few hours after birth.

“When we found her, the baby was not doing well,” Britz said. “We contacted the local vet, who said to bring her down to their hospital. After we took her there, they said she probably wasn’t going to survive, but we could try and take her to Texas A&M.”

Britz knew that the Texas A&M School of Medicine graduates whom he helped train at Houston Methodist were talented and dedicated to their craft, so he trusted that the veterinarians, staff and students at the LATH would exhibit the same qualities and would have the skills and determination to save Vicky’s life.

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A mare and her foal in a stall at the Large Animal Teaching Hospital

Faculty, staff and students at the Texas A&M University Large Animal Teaching Hospital played a critical role in returning Vicky to health. The foal was weak and lethargic after being separated from her mother shortly after birth and required two weeks of intensive treatment.


Photo by Jason Nitsch ’14/Texas A&M School of Veterinary Medicine and Biomedical Sciences

Every Trick In The Book

When Vicky arrived at the LATH on Feb. 15, she was extremely weak, not nursing well and showing an abnormally lethargic demeanor.

“Vicky had what we call neonatal sepsis and failure of passive transfer — basically, she had a bacterial infection that was making her sick. She also hadn’t nursed and wasn’t getting the nutrients she needed for energy, so she was very weak,” said Dr. Amanda Trimble, a clinical assistant professor of equine internal medicine at the Texas A&M School of Veterinary Medicine and Biomedical Sciences.

“If a foal doesn’t get colostrum in the first few hours of life, developing sepsis is a huge risk, because they are born without an immune system, so they can’t fight off any insult to their little bodies unless they get important antibodies from the mare,” Trimble said.

Because Vicky was so young, Queenie accompanied her to the LATH and proved to be a very dedicated mother. The two were kept in a special stall that allowed the veterinary team to begin stabilizing the foal while remaining in sight of the mare.

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Vicky received intravenous fluids and supplemental glucose to make up for the loss of nutrition; plasma for antibodies and immune system support; and antibiotics and anti-inflammatories to address the infection and pneumonia.

Once Vicky was stabilized, the veterinarians noticed that she still had a dull demeanor and decided to also apply a technique called the Madigan squeeze, which can stimulate neural pathways that are normally stimulated during birth.

If the natural process doesn’t happen correctly, which can occur during a rapid delivery, the foal is left in a lethargic, sleep-like state, similar to how it was in the womb — a condition known as neonatal maladjustment syndrome.

“Essentially, it’s like we re-birthed her,” Trimble said. “We apply a nice, steady pressure around the thorax for 20 minutes, and it feels like going through the birth canal again and something resets.”

After several days of intensive, around-the-clock care, Vicky’s overall condition began to improve, but a new problem also arose — her umbilicus, the location where her umbilical cord had been located, started showing serious signs of infection.

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“Her umbilicus wasn’t completely normal the first week, but we weren’t as concerned as we were about the sepsis initially. We wanted her to stabilize before we took her to surgery,” Trimble said. “But during the second week, it got really big — almost tripled or quadrupled in size — so I called Dr. (Dustin) Major and our surgery team. Together, we concluded we couldn’t wait any longer and that it needed to be removed immediately.

“The thing that we worry about with umbilical infection is that abscesses can form internally, and because of where all the blood vessels go from the umbilicus, the infection can spread to other organs as well,” she said.

Major, a clinical assistant professor of large animal surgery, removed the now-unnecessary umbilicus and its internal vessels to ensure the infection was gone, after which Vicky improved and was soon fully recovered.

Aptly Named

Vicky had not received her official name during her time at the LATH, but once she was discharged and sent home, Britz knew just what to call her.

“She was born on Valentine’s Day, so that was part of the ‘V,’ along with having the sire Vitalis,” Britz said. “Because you always name the baby after the mother, you then get Queen Victoria. You’ll know she’s from my line because my other top mare is called Queen Elizabeth.”

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Many faculty, staff and students were involved in ensuring Vicky’s recovery. In addition to Trimble and Major, Drs. Bridget Savitske, Jake Trautmann, Sally Alpini, and Abigail Blanton contributed, as well the internal medicine and soft tissue surgery teams and several fourth-year veterinary students.

Reflecting on the experience, Britz is thankful that he trusted the LATH with Vicky’s recovery.

“I was very impressed with the veterinary care and, particularly, with the communication,” he said. “I told the CEO of my hospital that we, as physicians, can learn something from the way Texas A&M handled the communication and made sure I was informed about everything.”

Likewise, Trimble is grateful that Britz and his barn manager ensured that Vicky arrived quickly.

“Infants can get sick really quickly; they can be fine one day and then the next day they might need this level of care,” she said. “Fast recognition is important, as well as knowing the normal milestones that a healthy, happy foal should be meeting. If they’re not meeting them, having the owner or the caretaker recognize that and getting them veterinary care is key to the foal surviving.”

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A foal nurses its mother in a stall at the Large Animal Teaching Hospital.

Vicky nurses her mother while on the way to recovery during a two-week stay at the Large Animal Teaching Hospital at Texas A&M University.


Photo by Jason Nitsch ’14/Texas A&M School of Veterinary Medicine and Biomedical Sciences



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