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REUTERS/Mike Blake//File Photo Acquire Licensing RightsDUBAI, Dec 1 (Reuters) - A United Nations-led effort to use space satellites to detect methane leaks from fossil fuel infrastructure has alerted governments to 127 major methane plumes across four continents since its launch at the start of this year. Environment Programme's (UNEP) Methane Alert and Response System (MARS) was created to support a 2021 global pledge by more than 150 countries to cut methane emissions by 30% by 2030. "Every kilogram of methane matters, but what we can see from our satellites is only the most outrageous of those emissions," said Manfredi Caltagirone, head of UNEP's International Methane Emissions Observatory. While satellites picked up more than 127 major plumes in 2023, some appeared short-lived and therefore too hard to trace, he said. Super-emitting events such as these are responsible for between 8% and 12% of methane emissions from the oil and gas industry.

Persons: Mike Blake, Manfredi Caltagirone, Caltagirone, Gloria Dickie, Barbara Lewis Organizations: REUTERS, Rights, United Nations, Programme's, UNEP, MARS, Thomson Locations: Pixley , California, U.S, Argentina, Dubai

☆ Proxy adviser ISS backs Mediobanca's outgoing board slate for board renewal
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

MILAN, Oct 11 (Reuters) - Proxy adviser Institutional Shareholder Services (ISS) said on Wednesday it was recommending that Mediobanca (MDBI.MI) investors vote in favour of the outgoing board's slate of nominees for the Italian bank's new board. The bank's board is elected for a three-year term and the current term expires on Oct. 28, when Mediobanca shareholders will vote on the renewal of the board, including the chief executive. Mediobanca's outgoing board has proposed 15 members for the full board, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro. Mediobanca's outgoing board's slate of nominees "is adequately positioned to represent the long-term interests of institutional investors and carry out an effective oversight of the management's action", ISS said in a report. The current board has the support of a group of Italian investors, representing a combined 10.9% stake.

Persons: Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Francesco Gaetano Caltagirone, Gianluca Semeraro, Leslie Adler Organizations: MILAN, Services, Thomson Locations: Italian

☆ Group of Italian investors in Mediobanca backs new term for CEO Nagel
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

MILAN, Sept 25 (Reuters) - A group of Italian investors with a combined 10.9% stake in Mediobanca (MDBI.MI) will vote to give Chief Executive Alberto Nagel a new term at a shareholders' meeting on Oct. 28, one of the group's members said on Monday. The bank's board is elected for a three-year term and the current term expires on Oct. 28 when Mediobanca shareholders will vote on renewing the board, including the CEO. The group of investors, who in 2018 signed a consultation agreement on the most important issues regarding the bank, met on Monday. Another member of the group, who did not wish to be identified, said all members of the group would vote to keep Nagel as CEO. Nagel has so far enjoyed the support of institutional investors who collectively account for 45% of the bank's capital.

Persons: Alberto Nagel, Nagel, Del, Delfin, Francesco Gaetano Caltagirone, Mediobanca's, Renato Pagliaro, Angelo Caso, Pagliaro, Gianluca Semeraro, Susan Fenton Organizations: Banca Mediolanum, Delfin, Thomson Locations: Mediobanca

☆ Generali’s pounce may win over in-house sceptics
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

The 29 billion euro Italian insurer on Thursday agreed to purchase Liberty Seguros, a group of European businesses, from U.S. insurer Liberty Mutual for 2.3 billion euros in cash. The Italian insurer’s largest acquisition since 2013 nearly exhausts its M&A firepower, which the group had assessed at between 2.5 billion euros and 3 billion euros. At 2.3 billion euros, or nearly two times its 1.2 billion euros of annual revenue, Liberty Seguros’ price tag does not look cheap. But the real price falls to 1.8 billion euros after factoring in around 500 million euros of cash expected from a sale of Brazilian assets announced earlier this year. Assuming three-quarters of these are cost cuts, they may be worth around 800 million euros once taxed at 25% and capitalised.

Persons: Francesco Gaetano Caltagirone, Philippe Donnet, Generali, Lisa Jucca, Pierre Briancon, Oliver Taslic Organizations: MILAN, Reuters, Liberty, Liberty Mutual, Axa, Allianz, Twitter, Thomson Locations: U.S, Italian, Iberia, Spain, Portugal, Europe, Cava

☆ Generali's No.3 investor Caltagirone withholds backing for 2022 accounts
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

MILAN, April 28 (Reuters) - Italian tycoon Francesco Gaetano Caltagirone, the third-largest investor in Generali (GASI.MI), on Friday withheld his approval for the insurer's 2022 accounts, two sources said, after attempting to bring about a management shake-up last year. They proposed an alternative candidate for the job but lost out in the April 2022 shareholder vote. During the AGM, Donnet said those results put Generali "in an excellent position" to achieve all the targets of its plan to 2024. In April last year, at the height of the shareholder clash, the 2021 accounts got around 85% of AGM votes. Italy's Benetton family, with a 4.8% stake, also challenged Donnet who had the support of Generali's top shareholder Mediobanca (MDBI.MI), which holds 13% of the insurer.

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