Demand for critical minerals can be reduced by 58 percent by 2050 through the use of new technologies, circular economy strategies and increased recycling.
The Saudi Arabia-backed league announced on Wednesday that Scott O'Neil, a longtime sports and entertainment executive, is taking over immediately as CEO for Norman, the architect of the league that launched three years ago and forever changed the face of professional golf.
Norman, 69, acknowledged last month that he would be replaced and told Sports Illustrated in October his contract expires in August. Beyond that, it is unknown whether Norman will have a role with LIV.
Norman's role the next seven months is not known, with the league saying only that the Palm Beach Gardens resident "will remain involved with LIV Golf."
Norman was announced as the CEO in October 2021 and named commissioner of the league in 2022. He lured several marquee names away from the PGA Tour to join the breakaway league, including Jupiter's Brooks Koepka and Dustin Johnson; Phil Mickelson, Bryson DeChambeau, Cameron Smith and Jon Rahm, by offering contracts reported to exceed $100 million. That money was paid by LIV's financial backers, Saudi Arabia's Public Investment Fund.
"When we launched LIV Golf, there was no one that made more sense to lead the organization other than Greg Norman," LIV board Chairman Yasir Al-Rumayyan said in a statement. "I thank him for everything he has done to establish, launch and grow our league. He has been instrumental to LIV’s success.”
Two-time major winner and the reigning Masters champion, Jon Rahm and LIV Golf Commissioner and CEO Greg Norman shake hands during a LIV Golf announcement at the Park Hyatt New York on Dec. 7, 2023 in New York, New York. (Photo by Scott Taetsch/LIV Golf)
O’Neil has more than 25 years of experience in leading and managing global sports and entertainment brands. He most recently was CEO of Merlin Entertainments for two years, overseeing one of the biggest operators of theme parks and resorts, including Legoland. He stepped down at the end of 2023. He formerly was the CEO of Harris Blitzer Sports & Entertainment, which owns the Philadelphia 76ers and New Jersey Devils.
“The opportunity to lead a global sports league is a dream come true," O’Neil said in a statement. “LIV Golf is the world’s first global golf league and, with the best teams and players competing around the world, it represents sports entertainment at the highest level.
“What LIV Golf has achieved in just three years is remarkable – the game has been infused with a long overdue bolt of energy and innovation with the team model, players have increased freedom and rights, fans are getting the access they have always wanted, and the game has been brought to new markets that have been desperate for elite golf for decades."
LIV Golf, PGA Tour continue negotiations
O'Neil joins LIV Golf, which is headquartered in West Palm Beach, as the league and the PGA Tour continue their negotiations. PGA Tour Commissioner Jay Monahan and Al-Rumayyan, head of Saudi's PIF, announced in June 2023 that the two tours had reached a "framework agreement" to combine commercial businesses and rights into a new for-profit company. Negotiations are in their 20th month despite an original deadline of Dec. 31, 2023.
Norman congratulated O'Neil in a statement.
"He is exactly the type of experienced professional who understands the unique and powerful combination of entertainment and sports that LIV Golf exemplifies," he said. "The league will be in very good hands with him at the helm.”
The two-time major winner and Hall of Famer then sounded like a man who is completely stepping aside.
“I started this journey more than 30 years ago, knowing in my heart and mind that the game of golf and its professional players were undervalued, delivering a product that felt stagnant. With LIV Golf, we changed the game forever …
“I couldn’t be prouder of what we’ve accomplished or more pleased with where the league stands today. I’m excited to pass the baton of day-to-day management and continue to help do what I can to grow LIV Golf. LONG LIV GOLF!”
Tom D'Angelo is a senior sports columnist and reporter for The Palm Beach Post. He can be reached at tdangelo@pbpost.com.
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While politicians argue over corporate climate action, Canadian companies are recognizing the risks of climate change and are taking steps to address them—but their progress is being slowed by a lack of investor leadership.
Companies that delay on addressing the risk stand to suffer significant losses from climate change—to the tune of 7% of corporate earnings annually by 2035, “an impact akin to COVID-19-level disruptions every two years”—finds a recent report by the World Economic Forum (WEF). Telecommunications, utilities, and energy sectors face the highest risk of fixed asset losses from climate hazards like extreme heat, which are becoming more severe as natural systems approach “tipping points.”
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“Consider factories losing their water supply, data centres which struggle to cool, offices under water or fields hit by floods and drought,” writes [pdf] the WEF, describing the potential fallout.
Already, losses from climate change have mounted to US$3.6 trillion since 2000 and stand to become much worse, especially if companies don’t plan for it, the WEF adds [pdf] in a separate report. “Climate inaction could cost far more than global action” as avoided losses pay back transition costs five or six times over. While many companies recognize these risks, “most are insufficiently prepared.” They must embed climate risks into their strategies and “ramp up scenario thinking” to prepare for a 3°C world.
But skirting the corporate world, politicians question whether environmental, social, and governance (ESG) standards have a place in driving company decisions. Conservative politicians in the United States have argued that ESG standards distort the “free market,” prompting some companies to roll back their climate commitments under political pressure.
Similar rhetoric is surfacing in Canada, where Conservative Party leader Pierre Poilievre dismissed ESG ideologies as “garbage.” Poilievre—who is no fan of the WEF—said he instead supports “free enterprise economics where businesses get ahead by having the best product, not by having the best lobbyists,” wrote alt-right newsletter True North.
The arguments about corporate climate accountability come as companies await new sustainability and climate reporting guidelines, expected this month from the Canadian Sustainability Standards Board (CSSB).
Some research indicates that companies are onboard with ESG policies and are concerned about climate risks to their bottom lines—even if, as WEF writes, they “seem to underestimate these financial losses and overestimate the cost of action.”
Lawyer Rima Ramchandani, co-head of Torys LLP’s capital markets practice, told the Globe and Mail that anti-ESG sentiments will not likely cause companies to change their approach on “how they prudently and responsibly manage and oversee risks.” She added, however, that “because of the politicization, some companies are choosing to be more cautious about what they say.”
A recent report by Torys found that 95% of companies publish reports connected to their sustainability, ESG, climate action, or transition goals. Among them, 69% say they are reporting in accordance with the international benchmark—the Taskforce on Climate-related Financial Disclosures—that is the expected basis for the upcoming CSSB rules.
Also published recently was the Globe’s “Board Games” ranking of corporate governance practices at Canada’s largest companies. Of 215 companies considered, only 15 received zero points for climate policies. At the same time, only 21 got a full score.
But the Board Games are neither universal nor a signal of real climate action. RBC received full marks for its climate criteria for the ranking, but a lineup of critics like Environmental Defence Canada take issue with RBC being the “largest financier of fossil fuels in Canada.” The bank is also the focus of an inquiry by the federal Competition Bureau for misleading advertising about its climate commitments.
Still, the data show a disconnect between the politicization of climate and ESG policies, and the attitude of companies themselves, that—at least on paper—are less conflicted about taking steps to avoid climate losses.
Yet, companies continue to drag their feet, Transition Accelerator CEO Dan Wicklum told last month’s Sustainable Finance Forum in Ottawa. He attributed the slow progress to a lack of investor leadership on climate action.
“Companies do what boards tell them to,” said Wicklum, “and boards do what shareholders tell them to.”
On Dec. 10, the Village of North Hatley held a public consultation meeting at Sainte-Élisabeth Church to address proposed zoning changes in the C-4 zone. Councillor Andrew Pelletier, in a Dec. 11 interview, outlined the process while deferring specific commentary, emphasizing the ongoing nature of deliberations.
The proposed amendments, detailed in public notices issued by the municipality on Dec. 3 and Dec. 10, include removing single- and two-family homes, motels, and religious establishments from permissible uses. Instead, they introduce multi-family dwellings (with 8 to 24 units per building), commercial spaces, and increased building heights, from 10 metres to 15 metres. These changes aim to accommodate a prospective project in the C-4 zone, which includes properties like the Pilsen and the old Grist Mill building.
“We collected all kinds of information,” Pelletier said of the Dec. 10 meeting, which included a presentation by municipal officials and drew about 20 attendees. According to Pelletier, the consultation primarily focused on the rationale behind the zoning amendments and allowed residents to voice their concerns. He added that the feedback gathered will be reviewed at a Jan. 13 council meeting.
The village’s ongoing master plan process, supported by an anonymous donor, was a recurring theme at the meeting, according to Pelletier and the Dec. 10 notice. Residents questioned why zoning changes were being considered ahead of the plan’s completion, expected in late summer 2025. “A lot of people said, look, you guys are doing the master plan, so why are you doing this sort of thing?” Pelletier explained.
The Dec. 10 public notice highlighted the master plan’s timeline, with consultations set to begin in early 2025 and final adoption anticipated in September. It also clarified that the zoning changes align with the village’s vision of creating a denser, mixed-use core while addressing the need for rental housing.
Pelletier, however, was tight-lipped about specific discussions from the meeting, citing respect for council processes. “We can’t really talk about the project until we get the zoning change,” he said. He encouraged residents to attend the January meeting, where more concrete details will be addressed.
Looking back, 2024 has been year that can be metaphorically bookended by mighty Ultims and tiny Alma Globe 5.80s. This year of "an embarrassment of riches" began on Sunday, January 7 with the start of the Arkea Ultim Challenge, which saw Ultim-sized trimarans (read 105-footers) race singlehanded around the world, and it's ending with the December 28 start of the Mini Globe Race 2025, which is seeing a fleet of 19-foot Alma Globe 5.8s race singlehanded around the world.
In between, the sailing world got to enjoy the 2024 Paris Olympics, the 37th America's Cup, and the start (and most of the Southern Ocean section) of the ongoing Vendée Globe, plus a host of other high-level events.
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