India Inc has shown remarkable financial strength over the last five years, with corporate profits growing nearly three times faster than the country’s GDP between FY20 and FY25, a new report said on Thursday.
The profit-to-GDP ratio has risen significantly to 6.9 per cent — reflecting strong earnings performance despite economic challenges, according to the data compiled by Ionic Wealth (Angel One).
The report, titled ‘India Inc. FY25: Decoding Earnings Trends & Path Ahead’, highlights that FY25 was a resilient year for Indian companies.
Revenue of Nifty 500 firms grew by 6.8 per cent year-on-year (YoY), while EBITDA rose by 10.4 per cent and profit after tax (PAT) increased by 5.6 per cent.
Notably, mid-cap and small-cap companies outshined large-cap firms in terms of profit growth, recording 22 per cent and 17 per cent PAT growth respectively, compared to just 3 per cent for large caps.
Sector-wise, BFSI (banking, financial services and insurance) emerged as a major driver of profitability, with its share of total profits nearly doubling since the pandemic.
Auto, capital goods, and consumer durables also posted healthy earnings growth.
Consumer durables led with a massive 57 per cent PAT growth in FY25, followed by healthcare at 36 per cent and capital goods at 26 per cent, as per the report.
Companies also benefited from margin improvements in sectors such as cement, chemicals, metals, and auto, helped by easing inflation and better input cost management.
The report also points to a significant jump in capital expenditure plans. India Inc. aims to nearly double its capex to Rs 72.25 lakh crore during FY26–30, with a majority of the investment expected to be self-funded.
Around 80 per cent of this capex is focused on upgrading existing operations and generating new income, with sectors like power, green energy, telecom, auto, and cement leading the next wave of investments.
Looking ahead to FY26, the outlook varies by sector. Banks and NBFCs may see loan growth stabilise as interest rates are expected to ease in the second half of the year.
The IT sector is likely to witness a recovery, driven by cost-optimisation deals and demand from BFSI clients.
Pharma growth will be supported by expansion in chronic therapies and hospital networks, while the FMCG sector is expected to benefit from improving rural demand and a good monsoon, the report said.
A U.N. expert on Thursday called on states to impose an arms embargo and cut off trade and financial ties with Israel, which she alleged is waging a “genocidal campaign” in Gaza.
In a speech to the U.N. Human Rights Council, U.N. Special Rapporteur on the Occupied Palestinian Territories Francesca Albanese said: “The situation in the occupied Palestinian territory is apocalyptic.”
“Israel is responsible for one of the cruellest genocides in modern history,” she added, in a speech that was met with a burst of applause from the Geneva council.
Israel’s diplomatic mission in Geneva did not immediately respond to a request for comment on Albanese’s speech.
Israel has rejected accusations of genocide in Gaza, citing its right to self-defence following the deadly October 7, 2023, Hamas attack. Its delegate was not present in the room in line with a new policy to disengage with the council which Israel says has an antisemitic bias.
Albanese, one of dozens of independent U.N.-mandated experts to document abuses around the world, was presenting her latest report which named over 60 companies she said were involved in supporting Israeli settlements and military actions in Gaza.
“What I expose is not a list, it is a system, and that is to be addressed,” she told the council.
“We must reverse the tide,” she added, calling for states to impose a full arms embargo, suspend all trade agreements and ensure companies face legal consequences for their involvement in violations of international law.
Israel’s diplomatic mission in Geneva earlier this week said Albanese’s latest report was “legally groundless, defamatory and a flagrant abuse of her office”.
A U.N. expert on Thursday called on states to impose an arms embargo and cut off trade and financial ties with Israel, which she alleged is waging a “genocidal campaign” in Gaza.
In a speech to the U.N. Human Rights Council, U.N. Special Rapporteur on the Occupied Palestinian Territories Francesca Albanese said: “The situation in the occupied Palestinian territory is apocalyptic.”
“Israel is responsible for one of the cruellest genocides in modern history,” she added, in a speech that was met with a burst of applause from the Geneva council.
Israel’s diplomatic mission in Geneva did not immediately respond to a request for comment on Albanese’s speech.
Israel has rejected accusations of genocide in Gaza, citing its right to self-defence following the deadly October 7, 2023, Hamas attack. Its delegate was not present in the room in line with a new policy to disengage with the council which Israel says has an antisemitic bias.
Albanese, one of dozens of independent U.N.-mandated experts to document abuses around the world, was presenting her latest report which named over 60 companies she said were involved in supporting Israeli settlements and military actions in Gaza.
“What I expose is not a list, it is a system, and that is to be addressed,” she told the council.
“We must reverse the tide,” she added, calling for states to impose a full arms embargo, suspend all trade agreements and ensure companies face legal consequences for their involvement in violations of international law.
Israel’s diplomatic mission in Geneva earlier this week said Albanese’s latest report was “legally groundless, defamatory and a flagrant abuse of her office”.
The India Meteorological Department (IMD) on Thursday predicted heavy to very heavy rainfall in Himachal Pradesh and Uttarakhand over the next five days.
As per IMD, heavy to very heavy rainfall activity is likely to continue over large parts of northwest, central, eastern, and northeastern India, as well as along the west coast, over the next six to seven days.
Extremely heavy rainfall – measuring 21 cm or more – is likely at isolated locations in east Rajasthan, the ghat areas of central Maharashtra, south coastal Maharashtra and Goa, and parts of coastal and south interior Karnataka today.
Weather forecast for Delhi-NCR
In the national capital region, Delhi is likely to see partly cloudy skies with light rain and thunderstorms over the coming days.
Today, the maximum temperature is expected to range between 36°C and 38°C, with very light to light rain accompanied by thunderstorms or lightning. Winds will predominantly blow from the southeast at speeds under 20 kmph during the afternoon, decreasing to 10–15 kmph by night.
On July 4, the weather will remain partly cloudy with chances of light rainfall and thunderstorms. Maximum and minimum temperatures are expected to range between 36–38°C and 26–28°C, respectively, remaining close to the seasonal average. Winds will be lighter, ranging from 8 to 15 kmph, mostly from the southeast and southwest directions.
By July 5, light to moderate rain with thunderstorms is predicted, accompanied by a drop in temperatures. The maximum temperature is expected to settle between 35°C and 37°C, while the minimum may fall to 24–26°C—1 to 3°C below normal. Winds will be relatively light, shifting from east to southeast during the day and picking up slightly by evening.
July 6 may bring further relief, with moderate rainfall expected and temperatures dipping further. The maximum temperature may range from 32°C to 34°C—3 to 5°C below normal—while the minimum is likely to stay between 26°C and 28°C. Winds will predominantly blow from the southwest at light speeds throughout the day.
The India Meteorological Department (IMD) on Thursday predicted heavy to very heavy rainfall in Himachal Pradesh and Uttarakhand over the next five days.
As per IMD, heavy to very heavy rainfall activity is likely to continue over large parts of northwest, central, eastern, and northeastern India, as well as along the west coast, over the next six to seven days.
Extremely heavy rainfall – measuring 21 cm or more – is likely at isolated locations in east Rajasthan, the ghat areas of central Maharashtra, south coastal Maharashtra and Goa, and parts of coastal and south interior Karnataka today.
Weather forecast for Delhi-NCR
In the national capital region, Delhi is likely to see partly cloudy skies with light rain and thunderstorms over the coming days.
Today, the maximum temperature is expected to range between 36°C and 38°C, with very light to light rain accompanied by thunderstorms or lightning. Winds will predominantly blow from the southeast at speeds under 20 kmph during the afternoon, decreasing to 10–15 kmph by night.
On July 4, the weather will remain partly cloudy with chances of light rainfall and thunderstorms. Maximum and minimum temperatures are expected to range between 36–38°C and 26–28°C, respectively, remaining close to the seasonal average. Winds will be lighter, ranging from 8 to 15 kmph, mostly from the southeast and southwest directions.
By July 5, light to moderate rain with thunderstorms is predicted, accompanied by a drop in temperatures. The maximum temperature is expected to settle between 35°C and 37°C, while the minimum may fall to 24–26°C—1 to 3°C below normal. Winds will be relatively light, shifting from east to southeast during the day and picking up slightly by evening.
July 6 may bring further relief, with moderate rainfall expected and temperatures dipping further. The maximum temperature may range from 32°C to 34°C—3 to 5°C below normal—while the minimum is likely to stay between 26°C and 28°C. Winds will predominantly blow from the southwest at light speeds throughout the day.
Source: United Kingdom – Executive Government & Departments 2
Press release
Cheers as Argentina grants Scotch Whisky historic protection
Scotch Whisky becomes the first international product to gain legal protection in Argentina as a Geographical Indication
Argentina has given Scotch Whisky its seal of approval as the first ever international product to receive Geographical Indication (GI) status in the country.
The protection recognises what makes a dram of Scotch truly special – centuries of craftsmanship, distinctive production methods, and that unmistakable Scottish character that can’t be replicated anywhere else.
This legal protection ensures products labelled as Scotch Whisky are genuine and meet strict production standards. This will help tackle counterfeit products, giving shoppers confidence they are buying an authentic product and distillers reassurance to expand their presence in a market without risk of imitation products undermining their reputation.
This also marks the first international product to gain legal protection in Argentina, highlighting the increasing global demand for authentic British products overseas. British food and drink exports reached record levels in 2024, with GI products accounting for approximately 25% of all UK food and drink exports and an estimated annual value exceeding £6 billion.
Daniel Zeichner, Minister for Food Security and Rural Affairs, said:
Argentina’s legal protection of Scotch Whisky marks another triumph for this world-class British export.
In just six months we’ve driven a breakthrough trade agreement with India while securing legal protections for dozens of beloved British products across the globe – from the markets of São Paulo to the streets of Tokyo.
This government won’t stop here. We’re unlocking doors for UK exporters worldwide, putting British products on more shelves and tables – delivering real economic growth as part of our Plan for Change.
Trade Minister Douglas Alexander said:
Scotch Whisky is the first foreign product to receive special protection in Argentina which is testament to not only the strength of our trade ties with Argentina, but the prestige and reach of Scotland’s world-renowned product.
This is another win for an industry already bolstered by our deal with India which slashes whisky tariffs by half immediately and then down even further in the years to come, demonstrating our action to boost Scotland’s businesses and delivering economic growth under the Plan for Change.
Scottish Secretary Ian Murray said:
There is no substitute for authentic Scotch Whisky and it’s fantastic news that collaborative work between the UK Government and Scotch Whisky Association has convinced the Argentine authorities to give our national drink – and one of our biggest exports – the protection it deserves.
Opening up new markets and expanding existing ones for our producers is key to growing the economy and the UK Government’s Plan for Change. Scotland’s food and drink industry and our Brand Scotland campaign will play an important part in that. This is excellent news to all the whisky producers who put Scotland on the global stage with our world-famous spirit. Salud!
The recognition comes just months after securing protected status for 39 additional British specialities in Japan and a landmark trade deal with India which slashed whisky tariffs by 50%, creating substantial commercial opportunities for UK businesses overseas under the government’s Plan for Change.
Ice loss in Antarctica and its impact on the planet – sea level rise, changes to ocean currents and disturbance of wildlife and food webs – has been in the news a lot lately. All of these threats were likely on the minds of the delegates to the annual Antarctic Treaty Consultative Meeting, which finishes up today in Milan, Italy.
This meeting is where decisions are made about the continent’s future. These decisions rely on evidence from scientific research. Moreover, only countries that produce significant Antarctic research – as well as being parties to the treaty – get to have a final say in these decisions.
Our new report – published as a preprint through the University of the Arctic – shows the rate of research on the Antarctic and Southern Ocean is falling at exactly the time when it should be increasing. Moreover, research leadership is changing, with China taking the lead for the first time.
This points to a dangerous disinvestment in Antarctic research just when it is needed, alongside a changing of the guard in national influence. Antarctica and the research done there are key to everyone’s future, so it’s vital to understand what this change might lead to.
Why is Antarctic research so important?
With the Antarctic region rapidly warming, its ice shelves destabilising and sea ice shrinking, understanding the South Polar environment is more crucial than ever.
Research to understand these impacts is vital. First, knowing the impact of our actions – particularly carbon emissions – gives us an increased drive to make changes and lobby governments to do so.
Second, even when changes are already locked in, to prepare ourselves we need to know what these changes will look like.
And third, we need to understand the threats to the Antarctic and Southern Ocean environment to govern it properly. This is where the treaty comes in.
Fifty-eight countries are parties to the treaty, but only 29 of them – called consultative parties – can make binding decisions about the region. They comprise the 12 original signatories from 1959, along with 17 more recent signatory nations that produce substantial scientific research relating to Antarctica.
This makes research a key part of a nation’s influence over what happens in Antarctica.
For most of its history, the Antarctic Treaty System has functioned remarkably well. It maintained peace in the region during the Cold War, facilitated scientific cooperation, and put arguments about territorial claims on indefinite hold. It indefinitely forbade mining, and managed fisheries.
Because decisions are made by consensus, any country can effectively block progress. Russia and China – both long-term actors in the system – have been at the centre of the impasse.
Tracking the amount of Antarctic research being done tells us whether nations as a whole are investing enough in understanding the region and its global impact.
It also tells us which nations are investing the most and are therefore likely to have substantial influence.
Our new report examined the number of papers published on Antarctic and Southern Ocean topics from 2016 to 2024, using the Scopus database. We also looked at other factors, such as the countries affiliated with each paper.
The results show five significant changes are happening in the world of Antarctic research.
The number of Antarctic and Southern Ocean publications peaked in 2021 and then fell slightly yearly through to 2024.
While the United States has for decades been the leader in Antarctic research, China overtook them in 2022.
If we look only at the high-quality publications (those published in the best 25% of journals) China still took over the US, in 2024.
Of the top six countries in overall publications (China, the US, the United Kingdom, Australia, Germany and Russia) all except China have declined in publication numbers since 2016.
Although collaboration in publications is higher for Antarctic research than in non-Antarctic fields, Russia, India and China have anomalously low rates of co-authorship compared with many other signatory countries.
Why is this research decline a problem?
A recent parliamentary inquiry in Australia emphasised the need for funding certainty. In the UK, a House of Commons committee report considered it “imperative for the UK to significantly expand its research efforts in Antarctica”, in particular in relation to sea level rise.
US commentators have pointed to the inadequacy of the country’s icebreaker infrastructure. The Trump administration’s recent cuts to Antarctic funding are only likely to exacerbate the situation. Meanwhile China has built a fifth station in Antarctica and announced plans for a sixth.
Given the nation’s population and global influence, China’s leadership in Antarctic research is not surprising. If China were to take a lead in Antarctic environmental protection that matched its scientific heft, its move to lead position in the research ranks could be positive. Stronger multi-country collaboration in research could also strengthen overall cooperation.
But the overall drop in global Antarctic research investment is a problem however you look at it. We ignore it at our peril.
Elizabeth Leane receives funding from the Australian Research Council, the Dutch Research Council, the Council on Australian and Latin American Relations DFAT and HX (Hurtigruten Expeditions). She has received in-kind support from Hurtigruten Expeditions in the recent past. The University of Tasmania is a member of the UArctic, which has provided support for this project.
Keith Larson is affiliated with the UArctic and European Polar Board. The UArctic paid for the development and publication of this report. The UArctic Thematic Network on Research Analytics and Bibliometrics conducted the analysis and developed the report. The Arctic Centre at Umeå University provided in-kind support for staff time on the report.
New research led by Viktoria Cologna at ETH Zurich in Switzerland may help to explain what’s going on. Using data from around the world, the study suggests simple exposure to extreme weather events does not affect people’s view of climate action – but linking those events to climate change can make a big difference.
Global opinion, global weather
The new study, published in Nature Climate Change, looked at the question of extreme weather and climate opinion using two global datasets.
The first is the Trust in Science and Science-related Populism (TISP) survey, which includes responses from more than 70,000 people in 68 countries. It measures public support for climate policies and the extent that people think climate change is behind increases in extreme weather.
The second dataset estimates how much of each country’s population has been affected each year by events such as droughts, floods, heatwaves and storms. These estimates are based on detailed models and historical climate records.
Public support for climate policies
The survey measured public support for climate policy by asking people how much they supported five specific actions to cut carbon emissions. These included raising carbon taxes, improving public transport, using more renewable energy, protecting forests and land, and taxing carbon-heavy foods.
Responses ranged from 1 (not at all) to 3 (very much). On average, support was fairly strong, with an average rating of 2.37 across the five policies. Support was especially high in parts of South Asia, Africa, the Americas and Oceania, but lower in countries such as Russia, Czechia and Ethiopia.
Exposure to extreme weather events
The study found most people around the world have experienced heatwaves and heavy rainfall in recent decades. Wildfires affected fewer people in many European and North American countries, but were more common in parts of Asia, Africa and Latin America.
Cyclones mostly impacted North America and Asia, while droughts affected large populations in Asia, Latin America and Africa. River flooding was widespread across most regions, except Oceania.
Do people in countries with higher exposure to extreme weather events show greater support for climate policies? This study found they don’t.
In most cases, living in a country where more people are exposed to disasters was not reflected in stronger support for climate action.
Wildfires were the only exception. Countries with more wildfire exposure showed slightly higher support, but this link disappeared once factors such as land size and overall climate belief were considered.
In short, just experiencing more disasters does not seem to translate into increased support for mitigation efforts.
Seeing the link between weather and climate change
In the global survey, people were asked how much they think climate change has increased the impact of extreme weather over recent decades. On average, responses were moderately high (3.8 out of 5) suggesting that many people do link recent weather events to climate change.
Such an attribution was especially strong in Latin America, but lower in parts of Africa (such as Congo and Ethiopia) and Northern Europe (such as Finland and Norway).
Crucially, people who more strongly believed climate change had worsened these events were also more likely to support climate policies. In fact, this belief mattered more for policy support than whether they had actually experienced the events firsthand.
Prior research shows less dramatic and chronic events like rainfall or temperature anomalies have less influence on public views than more acute hazards like floods or bushfires. Even then, the influence on beliefs and behaviour tends to be slow and limited.
This study shows climate impacts alone may not change minds. However, it also highlights what may affect public thinking: helping people recognise the link between climate change and extreme weather events.
In countries such as Australia, climate change makes up only about 1% of media coverage. What’s more, most of the coverage focuses on social or political aspects rather than scientific, ecological, or economic impacts.
Omid Ghasemi receives funding from the Australian Academy of Science. He was a member of the TISP consortium and a co-author of the dataset used in this study.
South Africans want to shop more sustainably, according to research published in the journal Sustainable Development. But most can’t tell which products are environmentally friendly.
Some food manufacturers have introduced eco labels – a certification symbol placed on product packaging. This indicates the product meets specific environmental standards set by a third party organisation.
These labels are meant to signal to consumers that a product has been produced in a way that limits harm to the environment. But our recent study with 108 South African consumers showed low recognition of eco labels, widespread confusion, and a need for clearer guidance.
The results show that most South African shoppers are unfamiliar with these labels or unable to differentiate between real and fictional ones.
In the European Union eco labels like the EU Energy Label are easily understood and highly visible. They are also usually supported by government awareness campaigns. Other examples of labelling systems that work well include those of Germany and Japan.
These countries show that long term institutional support, mandatory labelling in key sectors, and consistent public messaging can greatly improve eco label recognition.
We concluded from our research that South Africa lacks that national visibility and public education, leaving even motivated consumers unsure of what labels to trust. Based on our findings we recommend steps businesses, government and nonprofits can take to ensure that eco labels are clear, visible and understood.
Eco labelling at its best
The EU Energy Label is used on appliances such as fridges, washing machines and light bulbs to indicate their energy efficiency on a scale from A (most efficient) to G (least efficient).
In countries like Germany and Japan, eco labels are government backed as well as being integrated into school curricula, public service announcements and shopping platforms.
Germany’s Blue Angel label, which states “protects the environment”, has been in use since the 1970s. It appears on over 12,000 products and services, including paper goods, cleaning products, paints and electronics, that meet strict environmental criteria. It is supported by ongoing public education campaigns.
In Japan the the Eco Mark appears on products with minimal environmental impact. It appears on items like stationery, detergents, packaging and appliances. Many retailers display explanations next to these products to help consumers understand the label.
South Africans struggle to identify eco labels
We conducted a structured online survey of 108 South African consumers. Participants were asked about their environmental awareness and their ability to recognise both real and fictional eco labels across ten images. According to the global directory of eco labels and environmental certification schemes, there are around 50 eco labels in South Africa.
The EU Energy Label was the most recognised (87%).
The Afrisco Certified Organic label, which is a legitimate South African label, was the least recognised, identified by just 22% of respondents.
Fictional labels were mistakenly identified as real by many participants, revealing widespread confusion.
Only 3 out of 10 labels were recognised by at least half the participants, suggesting a general lack of eco label awareness. These include the Energy Star Eco label; the EU Energy label and the Forest Stewardship council label.
Age and employment status were significantly related to environmental awareness. Older and employed individuals showed higher levels of awareness.
These findings suggest that consumers are not opposed to eco labels, they simply lack the knowledge and confidence to use them effectively.
Eco labels have the potential to build brand trust, drive green purchasing behaviour, and support national sustainability goals. But they only work if consumers recognise and trust them.
In South Africa, inconsistent use, small label size, and a lack of consumer education are holding eco labels back from achieving their purpose.
What businesses can do
Based on our findings, we recommend the following:
Use recognised and credible labels: Third-party certified labels are more trustworthy and reliable.
Improve label visibility: The most recognised label in our study was the EU Energy Label and was also the most prominent. Small, cluttered logos go unnoticed.
Educate your market: Explain what eco labels mean through packaging, marketing, and digital platforms.
Partner with government and NGOs: Awareness campaigns at national and community levels can help standardise eco label understanding.
Tailor communication efforts: Awareness efforts should consider age and employment demographics, as these affect levels of environmental engagement.
The way forward
South Africans are willing to support environmentally responsible products, but they need help identifying them.
Businesses, government and nonprofits all have a role to play in making eco labels clearer, more visible, and more trustworthy.
Eco labels must become more than symbols. They should be tools for transparency and trust, and a gateway to more sustainable shopping.
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Narendra Modi’s trip to Ghana in July 2025, part of a five-nation visit, is the first by an Indian prime minister in over 30 years. The two countries’ relationship goes back more than half a century to when India helped the newly independent Ghana set up its intelligence agencies. Ghana is also home to several large Indian-owned manufacturing and trading companies. International relations scholar Pius Siakwah unpacks the context of the visit.
What is the background to Ghana and India’s relationship?
It can be traced to links between Kwame Nkrumah, Ghana’s first president, and his Indian counterpart, Prime Minister Jawaharlal Nehru, in 1957. It is not surprising that the Indian High Commission is located near the seat of the Ghana government, Jubilee House.
Nkrumah and Nehru were co-founders of the Non-Aligned Movement, a group of states not formally aligned with major power blocs during the cold war. Its principles focused on respect for sovereignty, neutrality, non-interference, and peaceful dispute resolution. It was also a strong voice against the neo-colonial ambitions of some of the large powers.
The movement emerged in the wave of decolonisation after the second world war. It held its first conference in 1961 under the leadership of Josip Bros Tito (Yugoslavia), Gamal Abdel Nasser (Egypt) and Sukarno (Indonesia) as well as Nehru and Nkrumah.
The relationship between Ghana and India seemingly went into decline after the overthrow of Nkrumah in 1966, coinciding with the decline of Indian presence in global geopolitics.
In 2002, President John Kufuor re-energised India-Ghana relations. This led to the Indian government’s financial support in the construction of Ghana’s seat of government in 2008.
Though the concept of the Non-Aligned Movement has faded this century, its principles have crystallised into south-south cooperation. This is the exchange of knowledge, skills, resources and technologies among regions in the developing world.
South-south cooperation has fuelled India-Ghana relations. Modi’s diplomatic efforts since 2014 have sought to relaunch India’s presence in Africa.
In recent times, India has engaged Africa through the India–Africa Forum Summit. The first summit was held in 2008 in New Delhi with 14 countries from Africa. The largest one was held in 2015, while the fourth was postponed in 2020 due to COVID-19. The summit has led to 50,000 scholarships, a focus on renewable energy through the International Solar Alliance and an expansion of the Pan-African e-Network to bridge healthcare and educational gaps. Development projects are financed through India’s EXIM Bank.
India is now one of Ghana’s major trading partners, importing primary products like minerals, while exporting manufactured products such as pharmaceuticals, transport and agricultural machinery. The Ghana-India Trade Advisory Chamber was established in 2018 for socio-economic exchange.
Modi’s visit supports the strengthening of economic and defence ties.
The bilateral trade between India and Ghana moved from US$1 billion in 2011-12 to US$4.5 billion in 2018-19. It then dipped to US$2.2 billion in 2020-21 due to COVID. By 2023, bilateral trade amounted to around US$3.3 billion, making India the third-largest export and import partner behind China and Switzerland.
Indian companies have invested in over 700 projects in Ghana. These include B5 Plus, a leading iron and steel manufacturer, and Melcom, Ghana’s largest supermarket chain.
India is also one of the leading sources of foreign direct investment to Ghana. Indian companies had invested over US$2 billion in Ghana by 2021, according to the Ghana Investment Promotion Center.
What are the key areas of interest?
The key areas of collaboration are economic, particularly:
energy
infrastructure (for example, construction of the Tema to Mpakadan railway line)
defence
technology
pharmaceuticals
agriculture (agro-processing, mechanisation and irrigation systems)
industrial (light manufacturing).
What’s the bigger picture?
Modi’s visit is part of a broader visit to strengthen bilateral ties and a follow-up to the Brics Summit, July 2025 in Brazil. Thus, whereas South Africa is often seen as the gateway to Africa, Ghana is becoming the opening to west Africa.
Modi’s visit can be viewed in several ways.
First, India as a neo-colonialist. Some commentators see India’s presence as just a continuation of exploitative relations. This manifests in financial and agricultural exploitation and land grabbing.
Second, India as smart influencer. This is where the country adopts a low profile but benefits from soft power, linguistic, cultural and historical advantages, and good relationships at various societal and governmental levels.
Third, India as a perennial underdog. India has less funds, underdeveloped communications, limited diplomatic capacity, little soft power advantage, and an underwhelming media presence compared to China. China is able to project its power in Africa through project financing and loans, visible diplomatic presence with visits and media coverage in Ghana. Some of the coverage of Chinese activities in Ghana is negative – illegal mining (galamsey) is an example. India benefits from limited negative media presence but its contributions in areas of pharmaceuticals and infrastructure don’t get attention.
Modi will want his visit to build on ideas of south-south cooperation, soft power and smart operating. He’ll want to refute notions that India is a perennial underdog or a neo-colonialist in a new scramble for Africa.
In 2025, Ghana has to navigate a complex geopolitical space.
Pius Siakwah does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
There are more refugees in the world today than at any other point in history. The United Nations estimates that there are now more than 120 million people forcibly displaced from their homes. That is one in every 69 people on Earth. Some 73% of this population is hosted in lower or middle-income countries.
From the legacies of European colonialism to global inequality, drone warfare and climate instability, politicians have failed to address the causes driving this mass displacement. Instead, far-right parties exploit the crisis by inflaming cultures of hatred and hostility towards migrants, particularly in high-income western countries.
This is exacerbated by visual media, which makes refugees an easy target by denying them the means of telling their own stories on their own terms. Pictures of migrants on boats or climbing over border walls are everywhere in tabloid newspapers and on social media. But these images are rarely accompanied by any detailed account of the brutal experiences that force people into these situations.
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Many different kinds of visual storytelling live under the umbrella of refugee comics. They include short strips and stories, such as A Perilous Journey (2016) with testimonies from people fleeing the civil war in Syria, and Cabramatta (2019), about growing up as a Vietnamese migrant in a Sydney suburb. They also include codex-bound graphic novels, such as The Best We Could Do by Thi Bui (2017), and interactive web-comics such as Exodus by Jasper Rietman (2018).
They include documentaries made by journalists about the specific experiences of individual refugees. They also include fiction by artists who combine elements of several refugee testimonies into representative stories. Additionally, there are both fictional and non-fictional artworks made by migrants and refugees themselves.
Refugee comics address different forced mass displacements over the 20th and 21st centuries. These include the 1948 Nakba in Palestine, the 1970s flight of refugees from Vietnam and the 2010s displacement of people from Syria and other countries across sub-Saharan Africa and the Middle East.
These refugee comics challenge anti-migrant images in at least three ways. First, they often integrate the direct testimonies of refugees. This is enhanced by the combination of words and pictures that comprise the comics page, which allows refugees to frame the way we see and respond to images of displaced people.
For example, in The Unwanted by Joe Sacco (2012), familiar images of migrants crossing the Mediterranean on small boats are narrated by a refugee called Jon. Jon’s testimony turns our attention to the fears and desires that drive people to attempt dangerous sea crossings.
A second way comics challenge anti-migrant images is by allowing refugees to tell their stories without disclosing their identities. Because comics are drawn by hand and use abstract icons rather than photographs, refugees can tell their stories while also avoiding any unwanted scrutiny while also maintaining personal privacy. This reintroduces refugee agency into a visual culture that often seeks to reduce migrants to voiceless victims or security threats.
For example, in Escaping Wars and Waves: Encounters with Syrian Refugees (2018) German comics journalist Olivier Kugler dedicates two pages to a man he calls “The Afghan” because he didn’t want his name or identity revealed. Kugler presents this man’s testimony of failed attempts to get to the UK, but he never draws his face or refers to him by name.
The third way comics challenge anti-migrant images is by shifting our attention from refugees themselves to the hostile environments and border infrastructures that they are forced to travel through and inhabit. Refugee researchers describe this different way of seeing as a “places and spaces, not faces” approach.
For instance, in Undocumented: The Architecture of Migrant Detention (2017), Tings Chak walks her readers through migrant detention centres from the perspective of those who are being processed and detained.
Drawing displacement
This emphasis on place and space is built into the structure of our own book, Graphic Refuge. We begin by focusing on graphic stories about ocean crossings, particularly on the Mediterranean sea. We then turn to comics concerned with the experience of refugee camps, and we also ask how interactive online comics bring viewers into virtual refugee spaces in a variety of ways.
It is the obliteration of homes that forces people to become refugees in the first place. Later in the book, we explore how illustrated stories document the destruction of cityscapes across Syria and also in Gaza. Finally, we turn to graphic autobiographies by second-generation refugees, those who have grown up in places such as the US or Australia, but who must still negotiate the trauma of their parents’ displacement.
Where most previous studies of refugee comics have focused on trauma and empathy, in Graphic Refuge we take a different approach. We set out to show how refugee comics represent migrant agency and desire, and how we are all implicated in the histories and systems that have created the very idea of the modern refugee.
As critical refugee scholar Vinh Nguyen writes in our book’s foreword, while it is difficult to truly know what refugee lives are like, those of us who enjoy the privileges of citizenship can at least read these comics to better understand “what we – we who can sleep under warm covers at night – are capable of”.
This article features references to books that have been included for editorial reasons, and may contain links to bookshop.org. If you click on one of the links and go on to buy something from bookshop.org The Conversation UK may earn a commission.
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
The global ecosystem of climate finance is complex, constantly changing and sometimes hard to understand. But understanding it is critical to demanding a green transition that’s just and fair. That’s why The Conversation has collaborated with climate finance experts to create this user-friendly guide, in partnership with Vogue Business. With definitions and short videos, we’ll add to this glossary as new terms emerge.
Blue bonds
Blue bonds are debt instruments designed to finance ocean-related conservation, like protecting coral reefs or sustainable fishing. They’re modelled after green bonds but focus specifically on the health of marine ecosystems – this is a key pillar of climate stability.
By investing in blue bonds, governments and private investors can fund marine projects that deliver both environmental benefits and long-term financial returns. Seychelles issued the first blue bond in 2018. Now, more are emerging as ocean conservation becomes a greater priority for global sustainability efforts.
By Narmin Nahidi, assistant professor in finance at the University of Exeter
Carbon border adjustment mechanism
Did you know that imported steel could soon face a carbon tax at the EU border? That’s because the carbon border adjustment mechanism is about to shake up the way we trade, produce and price carbon.
The carbon border adjustment mechanism is a proposed EU policy to put a carbon price on imports like iron, cement, fertiliser, aluminium and electricity. If a product is made in a country with weaker climate policies, the importer must pay the difference between that country’s carbon price and the EU’s. The goal is to avoid “carbon leakage” – when companies relocate to avoid emissions rules and to ensure fair competition on climate action.
But this mechanism is more than just a tariff tool. It’s a bold attempt to reshape global trade. Countries exporting to the EU may be pushed to adopt greener manufacturing or face higher tariffs.
The carbon border adjustment mechanism is controversial: some call it climate protectionism, others argue it could incentivise low-carbon innovation worldwide and be vital for achieving climate justice. Many developing nations worry it could penalise them unfairly unless there’s climate finance to support greener transitions.
Carbon border adjustment mechanism is still evolving, but it’s already forcing companies, investors and governments to rethink emissions accounting, supply chains and competitiveness. It’s a carbon price with global consequences.
By Narmin Nahidi, assistant professor in finance at the University of Exeter
Carbon budget
The Paris agreement aims to limit global warming to 1.5°C above pre-industrial levels by 2030. The carbon budget is the maximum amount of CO₂ emissions allowed, if we want a 67% chance of staying within this limit. The Intergovernmental Panel on Climate Change (IPCC) estimates that the remaining carbon budgets amount to 400 billion tonnes of CO₂ from 2020 onwards.
Think of the carbon budget as a climate allowance. Once it has been spent, the risk of extreme weather or sea level rise increases sharply. If emissions continue unchecked, the budget will be exhausted within years, risking severe climate consequences. The IPCC sets the global carbon budget based on climate science, and governments use this framework to set national emission targets, climate policies and pathways to net zero emissions.
By Dongna Zhang, assistant professor in economics and finance, Northumbria University
Carbon credits
Carbon credits are like a permit that allow companies to release a certain amount of carbon into the air. One credit usually equals one tonne of CO₂. These credits are issued by the local government or another authorised body and can be bought and sold. Think of it like a budget allowance for pollution. It encourages cuts in carbon emissions each year to stay within those global climate targets.
The aim is to put a price on carbon to encourage cuts in emissions. If a company reduces its emissions and has leftover credits, it can sell them to another company that is going over its limit. But there are issues. Some argue that carbon credit schemes allow polluters to pay their way out of real change, and not all credits are from trustworthy projects. Although carbon credits can play a role in addressing the climate crisis, they are not a solution on their own.
By Sankar Sivarajah, professor of circular economy, Kingston University London
Carbon credits explained.
Carbon offsetting
Carbon offsetting is a way for people or organisations to make up for the carbon emissions they are responsible for. For example, if you contribute to emissions by flying, driving or making goods, you can help balance that out by supporting projects that reduce emissions elsewhere. This might include planting trees (which absorb carbon dioxide) or building wind farms to produce renewable energy.
The idea is that your support helps cancel out the damage you are doing. For example, if your flight creates one tonne of carbon dioxide, you pay to support a project that removes the same amount.
While this sounds like a win-win, carbon offsetting is not perfect. Some argue that it lets people feel better without really changing their behaviour, a phenomenon sometimes referred to as greenwashing.
Not all projects are effective or well managed. For instance, some tree planting initiatives might have taken place anyway, even without the offset funding, deeming your contribution inconsequential. Others might plant the non-native trees in areas where they are unlikely to reach their potential in terms of absorbing carbon emissions.
So, offsetting can help, but it is no magic fix. It works best alongside real efforts to reduce greenhouse gas emissions and encourage low-carbon lifestyles or supply chains.
By Sankar Sivarajah, professor of circular economy, Kingston University London
Carbon offsetting explained.
Carbon tax
A carbon tax is designed to reduce greenhouse gas emissions by placing a direct price on CO₂ and other greenhouse gases.
A carbon tax is grounded in the concept of the social cost of carbon. This is an estimate of the economic damage caused by emitting one tonne of CO₂, including climate-related health, infrastructure and ecosystem impacts.
A carbon tax is typically levied per tonne of CO₂ emitted. The tax can be applied either upstream (on fossil fuel producers) or downstream (on consumers or power generators). This makes carbon-intensive activities more expensive, it incentivises nations, businesses and people to reduce their emissions, while untaxed renewable energy becomes more competitively priced and appealing.
Carbon tax was first introduced by Finland in 1990. Since then, more than 39 jurisdictions have implemented similar schemes. According to the World Bank, carbon pricing mechanisms (that’s both carbon taxes and emissions trading systems) now cover about 24% of global emissions. The remaining 76% are not priced, mainly due to limited coverage in both sectors and geographical areas, plus persistent fossil fuel subsidies. Expanding coverage would require extending carbon pricing to sectors like agriculture and transport, phasing out fossil fuel subsidies and strengthening international governance.
What is carbon tax?
Sweden has one of the world’s highest carbon tax rates and has cut emissions by 33% since 1990 while maintaining economic growth. The policy worked because Sweden started early, applied the tax across many industries and maintained clear, consistent communication that kept the public on board.
Canada introduced a national carbon tax in 2019. In Canada, most of the revenue from carbon taxes is returned directly to households through annual rebates, making the scheme revenue-neutral for most families. However, despite its economic logic, inflation and rising fuel prices led to public discontent – especially as many citizens were unaware they were receiving rebates.
Carbon taxes face challenges including political resistance, fairness concerns and low public awareness. Their success depends on clear communication and visible reinvestment of revenues into climate or social goals. A 2025 study that surveyed 40,000 people in 20 countries found that support for carbon taxes increases significantly when revenues are used for environmental infrastructure, rather than returned through tax rebates.
By Meilan Yan, associate professor and senior lecturer in financial economics, Loughborough University
Climate resilience
Floods, wildfires, heatwaves and rising seas are pushing our cities, towns and neighbourhoods to their limits. But there’s a powerful idea that’s helping cities fight back: climate resilience.
Resilience refers to the ability of a system, such as a city, a community or even an ecosystem – to anticipate, prepare for, respond to and recover from climate-related shocks and stresses.
Sometimes people say resilience is about bouncing back. But it’s not just about surviving the next storm. It’s about adapting, evolving and thriving in a changing world.
Resilience means building smarter and better. It means designing homes that stay cool during heatwaves. Roads that don’t wash away in floods. Power grids that don’t fail when the weather turns extreme.
It’s also about people. A truly resilient city protects its most vulnerable. It ensures that everyone – regardless of income, age or background – can weather the storm.
And resilience isn’t just reactive. It’s about using science, local knowledge and innovation to reduce a risk before disaster strikes. From restoring wetlands to cool cities and absorb floods, to creating early warning systems for heatwaves, climate resilience is about weaving strength into the very fabric of our cities.
By Paul O’Hare, senior lecturer in geography and development, Manchester Metropolitan University
The meaning of climate resilience.
Climate risk disclosure
Climate risk disclosure refers to how companies report the risks they face from climate change, such as flood damage, supply chain disruptions or regulatory costs. It includes both physical risks (like storms) and transition risks (like changing laws or consumer preferences).
Mandatory disclosures, such as those proposed by the UK and EU, aim to make climate-related risks transparent to investors. Done well, these reports can shape capital flows toward more sustainable business models. Done poorly, they become greenwashing tools.
By Narmin Nahidi, assistant professor in finance at the University of Exeter
Emissions trading scheme
An emissions trading scheme is the primary market-based approach for regulating greenhouse gas emissions in many countries, including Australia, Canada, China and Mexico.
Part of a government’s job is to decide how much of the economy’s carbon emissions it wants to avoid in order to fight climate change. It must put a cap on carbon emissions that economic production is not allowed to surpass. Preferably, the polluters (that’s the manufacturers, fossil fuel companies) should be the ones paying for the cost of climate mitigation.
Regulators could simply tell all the firms how much they are allowed to emit over the next ten years or so. But giving every firm the same allowance across the board is not cost efficient, because avoiding carbon emissions is much harder for some firms (such as steel producers) than others (such as tax consultants). Since governments cannot know each firm’s specific cost profile either, it can’t customise the allowances. Also, monitoring whether polluters actually abide by their assigned limits is extremely costly.
An emissions trading scheme cleverly solves this dilemma using the cap-and-trade mechanism. Instead of assigning each polluter a fixed quota and risking inefficiencies, the government issues a large number of tradable permits – each worth, say, a tonne of CO₂-equivalent (CO₂e) – that sum up to the cap. Firms that can cut greenhouse gas emissions relatively cheaply can then trade their surplus permits to those who find it harder – at a price that makes both better off.
By Mathias Weidinger, environmental economist, University of Oxford
Emissions trading schemes, explained by climate finance expert Mathias Weidinger.
Environmental, social and governance (ESG) investing
ESG investing stands for environmental, social and governance investing. In simple terms, these are a set of standards that investors use to screen a company’s potential investments.
ESG means choosing to invest in companies that are not only profitable but also responsible. Investors use ESG metrics to assess risks (such as climate liability, labour practices) and align portfolios with sustainability goals by looking at how a company affects our planet and treats its people and communities. While there isn’t one single global body governing ESG, various organisations, ratings agencies and governments all contribute to setting and evolving these metrics.
For example, investing in a company committed to renewable energy and fair labour practices might be considered “ESG aligned”. Supporters believe ESG helps identify risks and create long-term value. Critics argue it can be vague or used for greenwashing, where companies appear sustainable without real action. ESG works best when paired with transparency and clear data. A barrier is that standards vary, and it’s not always clear what counts as ESG.
Why do financial companies and institutions care? Issues like climate change and nature loss pose significant risks, affecting company values and the global economy.
However, gathering reliable ESG information can be difficult. Companies often self-report, and the data isn’t always standardised or up to date. Researchers – including my team at the University of Oxford – are using geospatial data, like satellite imagery and artificial intelligence, to develop global databases for high-impact industries, across all major sectors and geographies, and independently assess environmental and social risks and impacts.
For instance, we can analyse satellite images of a facility over time to monitor its emissions effect on nature and biodiversity, or assess deforestation linked to a company’s supply chain. This allows us to map supply chains, identify high-impact assets, and detect hidden risks and opportunities in key industries, providing an objective, real-time look at their environmental footprint.
The goal is for this to improve ESG ratings and provide clearer, more consistent insights for investors. This approach could help us overcome current data limitations to build a more sustainable financial future.
By Amani Maalouf, senior researcher in spatial finance, University of Oxford
Environmental, social and governance investing explained.
Financed emissions
Financed emissions are the greenhouse gas emissions linked to a bank’s or investor’s lending and investment portfolio, rather than their own operations. For example, a bank that funds a coal mine or invests in fossil fuels is indirectly responsible for the carbon those activities produce.
Measuring financed emissions helps reveal the real climate impact of financial institutions not just their office energy use. It’s a cornerstone of climate accountability in finance and is becoming essential under net zero pledges.
By Narmin Nahidi, assistant professor in finance at the University of Exeter
Green bonds
Green bonds are loans issued to fund environmentally beneficial projects, such as energy-efficient buildings or clean transportation. Investors choose them to support climate solutions while earning returns.
Green bonds are a major tool to finance the shift to a low-carbon economy by directing finance toward climate solutions. As climate costs rise, green bonds could help close the funding gap while ensuring transparency and accountability.
Green bonds are required to ensure funds are spent as promised. For instance, imagine a city wants to upgrade its public transportation by adding electric buses to reduce pollution. Instead of raising taxes or slashing other budgets, the city can issue green bonds to raise the necessary capital. Investors buy the bonds, the city gets the funding, and the environment benefits from cleaner air and fewer emissions.
The growing participation of government issuers has improved the transparency and reliability of these investments. The green bond market has grown rapidly in recent years. According to the Bank for International Settlements, the green bond market reached US$2.9 trillion (£2.1 trillion) in 2024 – nearly six times larger than in 2018. At the same time, annual issuance (the total value of green bonds issued in a year) hit US$700 billion, highlighting the increasing role of green finance in tackling climate change.
By Dongna Zhang, assistant professor in economics and finance, Northumbria University
Just transition
Just transition is the process of moving to a low-carbon society that is environmentally sustainable and socially inclusive. In a broad sense, a just transition means focusing on creating a more fair and equal society.
Just transition has existed as a concept since the 1970s. It was originally applied to the green energy transition, protecting workers in the fossil fuel industry as we move towards more sustainable alternatives.
These days, it has so many overlapping issues of justice hidden within it, so the concept is hard to define. Even at the level of UN climate negotiations, global leaders struggle to agree on what a just transition means.
The big battle is between developed countries, who want a very restrictive definition around jobs and skills, and developing countries, who are looking for a much more holistic approach that considers wider system change and includes considerations around human rights, Indigenous people and creating an overall fairer global society.
A just transition is essentially about imagining a future where we have moved beyond fossil fuels and society works better for everyone – but that can look very different in a European city compared to a rural setting in south-east Asia.
For example, in a British city it might mean fewer cars and better public transport. In a rural setting, it might mean new ways of growing crops that are more sustainable, and building homes that are heatwave resistant.
By Alix Dietzel, climate justice and climate policy expert, University of Bristol
The meaning of just transition.
Loss and damage
A global loss and damage fund was agreed by nations at the UN climate summit (Cop27) in 2022. This means that the rich countries of the world put money into a fund that the least developed countries can then call upon when they have a climate emergency.
At the moment, the loss and damage fund is made up of relatively small pots of money. Much more will be needed to provide relief to those who need it most now and in the future.
By Mark Maslin, professor of earth system science, UCL
Mark Maslin explains loss and damage.
Mitigation v adaptation
Mitigation means cutting greenhouse gas emissions to slow climate change. Adaptation means adjusting to its effects, like building sea walls or growing heat-resistant crops. Both are essential: mitigation tackles the cause, while adaptation tackles the symptoms.
Globally, most funding goes to mitigation, but vulnerable communities often need adaptation support most. Balancing the two is a major challenge in climate policy, especially for developing countries facing immediate climate threats.
By Narmin Nahidi, assistant professor in finance at the University of Exeter
Nationally determined contributions
Nationally determined contributions (NDCs) are at the heart of the Paris agreement, the global effort to collectively combat climate change. NDCs are individual climate action plans created by each country. These targets and strategies outline how a country will reduce its greenhouse gas emissions and adapt to climate change.
Each nation sets its own goals based on its own circumstances and capabilities – there’s no standard NDC. These plans should be updated every five years and countries are encouraged to gradually increase their climate ambitions over time.
The aim is for NDCs to drive real action by guiding policies, attracting investment and inspiring innovation in clean technologies. But current NDCs fall short of the Paris agreement goals and many countries struggle to turn their plans into a reality. NDCs also vary widely in scope and detail so it’s hard to compare efforts across the board. Stronger international collaboration and greater accountability will be crucial.
By Doug Specht, reader in cultural geography and communication, University of Westminster
Fashion depends on water, soil and biodiversity – all natural capital. And forward-thinking designers are now asking: how do we create rather than deplete, how do we restore rather than extract?
Natural capital is the value assigned to the stock of forests, soils, oceans and even minerals such as lithium. It sustains every part of our economy. It’s the bees that pollinate our crops. It’s the wetlands that filter our water and it’s the trees that store carbon and cool our cities.
If we fail to value nature properly, we risk losing it. But if we succeed, we unlock a future that is not only sustainable but also truly regenerative.
My team at the University of Oxford is developing tools to integrate nature into national balance sheets, advising governments on biodiversity, and we’re helping industries from fashion to finance embed nature into their decision making.
Natural capital, explained by a climate finance expert.
By Mette Morsing, professor of business sustainability and director of the Smith School of Enterprise and the Environment, University of Oxford
Net zero
Reaching net zero means reducing the amount of additional greenhouse gas emissions that accumulate in the atmosphere to zero. This concept was popularised by the Paris agreement, a landmark deal that was agreed at the UN climate summit (Cop21) in 2015 to limit the impact of greenhouse gas emissions.
There are some emissions, from farming and aviation for example, that will be very difficult, if not impossible, to reach absolute zero. Hence, the “net”. This allows people, businesses and countries to find ways to suck greenhouse gas emissions out of the atmosphere, effectively cancelling out emissions while trying to reduce them. This can include reforestation, rewilding, direct air capture and carbon capture and storage. The goal is to reach net zero: the point at which no extra greenhouse gases accumulate in Earth’s atmosphere.
By Mark Maslin, professor of earth system science, UCL
Mark Maslin explains net zero.
For more expert explainer videos, visit The Conversation’s quick climate dictionary playlist here on YouTube.
Mark Maslin is Pro-Vice Provost of the UCL Climate Crisis Grand Challenge and Founding Director of the UCL Centre for Sustainable Aviation. He was co-director of the London NERC Doctoral Training Partnership and is a member of the Climate Crisis Advisory Group. He is an advisor to Sheep Included Ltd, Lansons, NetZeroNow and has advised the UK Parliament. He has received grant funding from the NERC, EPSRC, ESRC, DFG, Royal Society, DIFD, BEIS, DECC, FCO, Innovate UK, Carbon Trust, UK Space Agency, European Space Agency, Research England, Wellcome Trust, Leverhulme Trust, CIFF, Sprint2020, and British Council. He has received funding from the BBC, Lancet, Laithwaites, Seventh Generation, Channel 4, JLT Re, WWF, Hermes, CAFOD, HP and Royal Institute of Chartered Surveyors.
Amani Maalouf receives funding from IKEA Foundation and UK Research and Innovation (NE/V017756/1).
Narmin Nahidi is affiliated with several academic associations, including the Financial Management Association (FMA), British Accounting and Finance Association (BAFA), American Finance Association (AFA), and the Chartered Association of Business Schools (CMBE). These affiliations do not influence the content of this article.
Paul O’Hare receives funding from the UK’s Natural Environment Research Council (NERC). Award reference NE/V010174/1.
Alix Dietzel, Dongna Zhang, Doug Specht, Mathias Weidinger, Meilan Yan, and Sankar Sivarajah do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Source: The Conversation – Canada – By Faisal Shennib, Environmental Specialist, 24-25 Concordia Public Scholar, PhD Candidate in Individualized Program, Concordia University
And compared to national waste tracking, localized waste tracking could also provide more timely and relevant insights on the effectiveness of policies, infrastructure investments and education.
Measuring waste
The units for measuring waste are fairly standard across the world. Quantity of waste is measured by weight (tonnes) and waste performance is the per cent of total waste not sent for landfill and incineration.
However, waste terminology varies across both academia and industry. In some settings, “recycling” may mean that the material was collected for recycling, but not necessarily recycled. A term like “municipal waste” can include waste from offices and businesses — or not. This confusion makes global waste tracking challenging.
Regular global reporting on waste is sorely lacking. The United Nations’ Sustainable Development Goals (SDGs) call for global action on waste management, but there have been no figures for global recycling in recent UN SDG reports. This is likely due to the lack of available, reliable data.
Reports on global waste are compiled from sources using a wide variety of formats; a source may represent annual or daily waste, and total waste or waste per capita. Data is often from different years, making it useful for trend analysis but not strict comparisons.
Estimations and incomplete data are common; only 39 per cent of populations in developing countries are served by waste collection services. Double-counting is another risk when data comes from varied sources like waste collectors, processors and local governments.
With all these challenges, global waste reports require years to compile, leading to multiyear gaps in published reports.
Insufficient data
Even nations with consistent reporting are not immune to methodological gaps. The European Union and Canada both require annual reporting on waste, but allow for a wide variety of methods in data sourcing, including estimation.
In the United States, annual waste data is reported by states to the Environmental Protection Agency (EPA) on a voluntary basis. No new nationwide reports have been published since 2018.
Reliable waste characterization requires the waste to be audited: sampled, weighed, separated into categories, and then weighed again. It’s a labour-intensive and cost-prohibitive process, which might explain why American states haven’t provided updated waste characterizations to the EPA since 2018.
Estimating recycling stats
The oft-cited fact that nine per cent of global plastics are recycled comes from a 2022 report. It was calculated in several steps, each with significant uncertainties, including how much plastic was produced globally, how long it was used for, and how much was collected and likely to have been recycled.
The nine per cent figure is very much an estimate, representing global plastic waste in 2019. And now, it is an outdated figure.
In South Korea, for example, a country renowned for its waste policies and programs, reports a 73 per cent recycling rate for plastics, while Greenpeace estimates that the rate is 26 per cent because much of what is collected is not recycled.
In Canada, plastic recycling tracking suffers from the same lack of standardization and transparency as recycling in general.
A much-needed global consensus
Material consumption and management is a global problem requiring international collaboration, commitments and adequate tracking.
Faisal Shennib does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Headline: Quantum communications by satellite: SpeQtral and Thales Alenia Space launch new experimental phase
Cannes, July 3, 2025 – SpeQtral, a pioneer in satellite-based quantum communication technologies, and Thales Alenia Space, the joint company between Thales (67%) and Leonardo (33%), today announced the signing of a new collaboration agreement, extending their strategic partnership for the development and demonstration of quantum communications between space and Earth.
Signature of the cooperation agreement between Thales Alenia Space and SpeQtral in Thales Alenia Space chalet during Paris Airshow 2025 From left to right: Signatories: Dr Robert Bedington, SpeQtral CTO and Co-founder, and Christophe Valorge, CTO of Thales Alenia Space. Second row: Emily Tan, CEO of Thales Singapore; Cindy Koh, Executive Vice President, Economic Development Board; Jonathan Hung, Executive Director, Office for Space Technology & Industry, Singapore (OSTIn)
Quantum information networks represent a major breakthrough in information technology. They will enable quantum computers and quantum sensors to be interconnected to improve performance and resilience. This will pave the way for a new form of internet between quantum devices. These networks will also enable end-to-end secure communications that are resistant to attacks from quantum computers. Satellites will play a key role in these networks, extending connections over long distances and laying the foundations for a future quantum internet.
This new agreement aims to organize joint experiments involving SpeQtral’s quantum satellites, currently in development, and the first quantum ground station designed by Thales Alenia Space. The station will include environmental sensors to assess the impact of local conditions on the quality of quantum signals.
SpeQtral’s quantum satellites are amongst the first demonstrator satellites dedicated to enabling commercial quantum communications, and will be used to test the transmission of entangled photons between space and Earth, paving the way for the future interconnection of terrestrial quantum networks across continents.
SpeQtral will operate the satellites and provide the data needed to coordinate with the ground station, including pointing parameters and time-stamped onboard measurements. Thales Alenia Space will operate the ground station and collect synchronized local measurements to enable cross-analysis of quantum link performance. The shared objective is to experimentally validate the technical foundations of future interoperable quantum networks, as well as explore ways to enhance their performance.
At a later stage, the roles may be reversed, with Thales Alenia Space planning to launch the QINSAT satellite by the end of the decade to distribute entangled photon pairs to ground stations, including those operated by SpeQtral.
Since 2018, Thales Alenia Space has been pursuing an ambitious roadmap, establishing itself a key player in the field of quantum communications. The company is leveraging its expertise in satellite telecommunication systems, optical terminals and over 25 years of quantum technology experience within the Thales Group to develop a fully integrated approach spanning both the space and ground segments of quantum communications systems.
“We’re pleased to be taking this next step with SpeQtral, which builds on the progress we’ve made together since 2022,” said Christophe Valorge, Chief Technical Officer at Thales Alenia Space. “This collaboration provides a structured framework to experiment, learn and move forward together by combining our complementary technological expertise. It represents a new stage in building a reliable, resilient and interoperable quantum communication infrastructure on a global scale.”
“Momentum is building globally to demonstrate that quantum communication systems can work together effectively. This is a key step toward realizing global quantum information networks and reflects one of SpeQtral’s long-term goals. We’ve had many fruitful technical exchanges with Thales Alenia Space since 2022, and we’re excited to take this next step together.” said Dr. Robert Bedington, Cofounder and Chief Technology Officer at SpeQtral.
About THALES ALENIA SPACE
Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental monitoring, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources, and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the Space Alliance, which offers a complete range of solutions including services. Thales Alenia Space posted consolidated revenues of €2.23 billion in 2024 and has more than 8,100 employees in 7 countries with 15 sites in Europe.
About SPEQTRAL
SpeQtral is a pioneer in quantum communications, with a vision to build and deploy global quantum networks. SpeQtral develops quantum-secure products and services designed to protect sovereign and enterprise telecommunication networks against classical, as well as future quantum-based cyber-attacks on cryptography. Combining both terrestrial and space-based solutions, SpeQtral aims to secure the world’s networks against the threats posed by the imminent quantum revolution and drive innovation in quantum communications that will serve as the building blocks for the future quantum internet.
Mountains on the moon as seen by NASA Lunar Reconnaissance Orbiter. (NASA/GSFC/Arizona State University)
In science-fiction stories, companies often mine the moon or asteroids. While this may seem far-fetched, this idea is edging closer to becoming reality.
Celestial bodies like the moon contain valuable resources, such as lunar regolith — also known as moon dust — and helium-3. These resources could serve a range of applications, including making rocket propellant and generating energy to sustaining long missions, bringing benefits in space and on Earth.
The first objective on this journey is being able to collect lunar regolith. One company taking up this challenge is ispace, a Japanese space exploration company ispace that signed a contract with NASA in 2020 for the collection and transfer of ownership of lunar regolith.
The company recently attempted to land its RESILIENCE lunar lander, but the mission was ultimately unsuccessful. Still, this endeavour marked a significant move toward the commercialization of space resources.
These circumstances give rise to a fundamental question: what are the legal rules governing the exploitation of space resources? The answer is both simple and complex, as there is a mix of international agreements and evolving regulations to consider.
Space activities have exponentially evolved since the treaty’s adoption. In the 60 years following the launch of Sputnik 1 — the first satellite placed in orbit — less than 500 space objects were launched annually. But since 2018, this number has risen into the thousands, with nearly 3,000 launched in 2024.
Because of this, the treaty is often judged as inadequate to address the current complexities of space activities, particularly resource exploitation.
A longstanding debate centres on whether Article II of the treaty, which prohibits the appropriation of outer space — including the moon and other celestial bodies — also prohibits space mining.
The prevailing position is that Article II solely bans the appropriation of territory, not the extraction of resources themselves.
We are now at a crucial moment in the development of space law. Arguing over whether extraction is legal serves no purpose. Instead, the focus must shift to ensuring resource extraction is carried out in accordance with principles that ensure the safe and responsible use of outer space.
International and national space laws
A significant development in the governance of space resources has been the adoption Artemis Accords, which — as of June 2025 — has 55 signatory nations. The accords reflect a growing international consensus concerning the exploitation of space resources.
Notably, Section 10 of the accords indicates that the exploitation of space resources does not constitute appropriation, and therefore doesn’t violate the Outer Space Treaty.
Considering the typically slow pace of multilateral negotiations, a handful of nations introduced national legislation. These laws govern the legality of space resource exploitation, allowing private companies to request licenses to conduct this type of activity.
Among these, Luxembourg’s legal framework is the most complete. It provides a series of requirements to provide authorization for the exploitation of space resources. In fact, ispace’s licence to collect lunar regolith was obtained under this regime.
This first high-resolution image taken on the first day of the Artemis I mission by a camera on the tip of one of Orion’s solar arrays. The spacecraft was 57,000 miles from Earth when the image was captured. (NASA)
The rest of the regulations usually tend to limit themselves to proclaiming the legality of this activity without entering into too much detail and deferring the specifics of implementation to future regulations.
While these initiatives served to put space resources at the forefront of international forums, they also risk regulatory fragmentation, as different countries adopt varying standards and approaches.
In May 2025, the chair of the working group, Steven Freeland, presented a draft of recommended principles based on input from member states.
These principles reaffirm the freedom of use and exploration of outer space for peaceful purposes, while introducing rules pertaining to the safety of the activities and their sustainability, as well as the protection of the environment, both of Earth and outer space.
The development of a legal framework for space resources is still in its early stages. The working group is expected to submit its final report by 2027, but the non-binding nature of the principles raises concerns about their enforcement and application.
As humanity moves closer to extracting and using space resources, the need for a cohesive and responsible governance system has never been greater.
Martina Elia Vitoloni does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: The Conversation – USA – By Robert Bird, Professor of Business Law & Eversource Energy Chair in Business Ethics, University of Connecticut
Something dangerous is happening to the U.S. economy, and it’s not inflation or trade wars. Chaotic deregulation and the selective enforcement of laws have upended markets and investor confidence. At one point, the threat of tariffs and resulting chaos evaporated US$4 trillion in value in the U.S. stock market. This approach isn’t helping the economy, and there are troubling signs it will hurt both the U.S. and the global economy in the short and long term.
The rule of law – the idea that legal rules apply to everyone equally, regardless of wealth or political connections − is essential for a thriving economy. Yet globally the respect for the rule of law is slipping, and the U.S. is slipping with it. According to annual rankings from the World Justice Project, the rule of law has declined in more than half of all countries for seven years in a row. The rule of law in the U.S., the most economically powerful nation in the world, is now weaker than the rule of law in Uruguay, Singapore, Latvia and over 20 other countries.
When regulation is unnecessarily burdensome for business, government should lighten the load. However, arbitrary and frenzied deregulation does not free corporations to earn higher profits. As a business school professor with an MBA who has taught business law for over 25 years, and the author of a recently published book about the importance of legal knowledge to business, I can affirm that the opposite is true. Chaotic deregulation doesn’t drive growth. It only fuels risk.
Chaos undermines investment, talent and trust
Legal uncertainty has become a serious drag on American competitiveness.
A study by the U.S. Chamber of Commerce found that public policy risks — such as unexpected changes in taxes, regulation and enforcement — ranked among the top challenges businesses face, alongside more familiar business threats such as competition or economic volatility. Companies that can’t predict how the law might change are forced to plan for the worst. That means holding back on long-term investment, slowing innovation and raising prices to cover new risks.
When the government enforces rules arbitrarily, it also undermines property rights.
For example, if a country enters into a major trade agreement and then goes ahead and violates it, that threatens the property rights of the companies that relied on the agreement to conduct business. If the government can seize assets without due process, those assets lose their stability and value. And if that treatment depends on whether a company is in the government’s political favor, it’s not just bad economics − it’s a red flag for investors.
When government doesn’t enforce rules fairly, it also threatens people’s freedom to enter into contracts.
Consider presidential orders that threaten the clients of law firms that have challenged the administration with cancellation of their government contracts. The threat alone jeopardizes the value of those agreements.
If businesses can’t trust public contracts to be respected, they’ll be less likely to work with the government in the first place. This deprives the government, and ultimately the American people, of receiving the best value for their tax dollars in critical areas such as transportation, technology and national defense.
Regulatory chaos also allows corruption to spread.
For example, the Foreign Corrupt Practices Act, which prohibits businesses from bribing foreign government officials, has leveled the playing field for firms and enabled the best American companies to succeed on their merits. Before the law was enacted in 1977, some American companies felt pressured to pay bribes to compete. “Pausing” enforcement of the law, as the current presidential administration has done, increases the cost of doing business and encourages a wild west economy where chaos thrives.
Chaotic enforcement of the law also corrodes labor markets.
American companies require a strong pool of talented professionals to fuel their financial success. When legal rights are enforced arbitrarily or unjustly, the very best talent that American companies need may leave the country.
The science brain drain is already happening. American scientists have submitted 32% more applications for jobs abroad compared with last year. Nonscientists are leaving too. Ireland’s Department of Foreign Affairs has witnessed a 50% increase in Americans taking steps to obtain an Irish passport. Employers in the U.K. saw a spike in job applications from the United States.
Business from other countries will gladly accept American talent as they compete against American companies. During the Third Reich, Nazi Germany lost its best and brightest to other countries, including America. Now the reverse is happening, as highly talented Americans leave to work for firms in other nations.
Threats of arbitrary legal actions also drive away democratic allies and their prosperous populations that purchase American-made goods and services. For example, arbitrarily threatening to punish or even annex a closely allied nation does not endear its citizens to that government or the businesses it represents. So it’s no surprise that Canadians are now boycotting American goods and services. This is devastating businesses in American border towns and hurts the economy nationwide.
Similarly, the Canadian government has responded to whipsawing U.S. tariff announcements with counter-tariffs, which will slice the profits of American exporters. Close American allies and trading partners such as Japan, the U.K. and the European Union are also signaling their own willingness to impose retaliatory tariffs, increasing the costs of operations to American business even more.
Modern capitalism depends on smart regulation to thrive. Smart regulation is not an obstacle to capitalism. Smart regulation is what makes American capitalism possible. Smart regulation is what makes American freedom possible.
Clear and consistently applied legal rules allow businesses to aggressively compete, carefully plan, and generate profits. An arbitrary rule of law deprives business of the true power of capitalism – the ability to promote economic growth, spur innovation and improve the overall living standards of a free society. Americans deserve no less, and it is up to government to make that happen for everyone.
Robert Bird does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Gen. Dan Caine, chairman of the Joint Chiefs of Staff, describes the U.S. military attack on Iranian nuclear sites, which occurred on June 21, 2025, .AP Photo/Alex Brandon
The U.S. Air Force dropped a dozen ground-penetrating bombs, each weighing 30,000 pounds (13,607 kilograms), in a raid on Iran’s nuclear site at Fordo on June 21, 2025. The attack was an attempt to reach the uranium enrichment facility buried deep inside a mountain. The target, President Donald Trump declared, was “completely and totally obliterated.”
Others were less sure. On June 24, the administration canceled a classified intelligence briefing to members of Congress, leading to frustration among those with questions about White House claims. While Defense Intelligence Agency analysts apparently agree that the strikes did real damage, they dispute the idea that the attack permanently destroyed Iran’s enrichment capability. Reports emerged that their initial analysis found that the strikes had only set Iran back a few months.
Such disagreements are unsurprising. Battle damage assessment – originally called bomb damage assessment – is notoriously difficult, and past wars have featured intense controversies among military and intelligence professionals. In World War II, poor weather and the limits of available technology conspired against accuracy.
Battle damage assessment remained a thorny problem decades later, even after radical improvements in surveillance technology. In the first Gulf War in 1990, for example, military leaders argued with CIA officials over the effects of airstrikes against Iraq’s armored forces.
How the U.S. military’s ‘bunker buster’ bomb works.
Tools of the trade
The intelligence community has a number of tools and techniques that can help with challenges like assessing the damage at Fordo. Imagery intelligence such as satellite photography is the obvious starting point. Before-and-after comparisons might reveal collapsed tunnels or topographical changes, suggesting unseen subterranean damage.
More exotic data collection techniques may be able to help infer the underground effects based on particle and electromagnetic emissions from the site. These platforms provide what is called measurement and signatures intelligence. Specialized sensors can measure nuclear radiation, seismographic information and other potentially revealing information from camouflaged facilities. When combined with traditional imagery, measurement and signatures intelligence can provide a more detailed model of the likely effects of the bombing.
Other sources may prove useful as well. Reporting from human intelligence assets – spies or unwitting informers with firsthand or secondhand knowledge – may provide information on internal Iranian assessments. These may be particularly valuable because Iranian officials presumably know how much equipment was removed in advance, as well as the location of previously enriched uranium.
The same is true for signals intelligence, which intercepts and interprets communications. Ideally, battle damage assessment will become more comprehensive and accurate as these sources of intelligence are integrated into a single assessment.
Pervasive uncertainty
But even in that case, it will still be difficult to estimate the broader effects on Iran’s nuclear program. Measuring the immediate physical effects on Fordo and other nuclear sites is a kind of puzzle, or a problem that can be solved with sufficient evidence. Estimating the long-term effects on Iranian policy is a mystery, or a problem that cannot be solved even with abundant information on hand. It’s impossible to know how Iran’s leaders will adapt over time to their changing circumstances. They themselves cannot know either; perceptions of the future are inherently uncertain.
Regarding the puzzle over Fordo, Trump seems to believe that the sheer volume of explosives dropped on the site must have done the job. As White House Press Secretary Karoline Leavitt put it: “Everyone knows what happens when you drop 14 30,000-pound bombs perfectly on their targets: total obliteration.”
But the fact that Fordo is buried in the side of a mountain is a reason to doubt this commonsense conclusion. In addition, Iran may have moved enriched uranium and specialized equipment from the site in advance, limiting the effects on its nuclear program.
Trump’s instincts might be right. Or the skeptics might be right. Both make plausible claims. Analysts will need more intelligence from more sources to make a confident judgment about the effects on Fordo and on Iran’s broader nuclear efforts. Even then, it is likely that they will disagree on the effects, because this requires making predictions.
News coverage of the attack on Fordo and White House claims of success.
Politicized intelligence
In a perfect world, policymakers and intelligence officials would wrestle with dueling assessments in good faith. Such a process would take place outside the political fray, giving both sides the opportunity to offer criticism without being accused of political mischief. In this idealized scenario, policymakers could use reasonable intelligence conclusions to inform their decision-making process. After all, there are a lot of decisions about Middle Eastern security left to be made.
But we are not in a perfect world, and hopes for a good faith debate seem hopelessly naïve. Already the battle lines are being drawn. Congressional Democrats are suspicious that the administration is being disingenuous about Iran. The White House, for its part, is going on the offensive. “The leaking of this alleged assessment is a clear attempt to demean President Trump,” Leavitt declared in a written statement, “and discredit the brave fighter pilots who conducted a perfectly executed mission.”
Relations between policymakers and their intelligence advisers are often contentious, and U.S. presidents have a long history of clashing with spy chiefs. But intelligence-policy relations today are in a particularly dismal state. Trump bears the most responsibility, given his repeated disparagement of intelligence officials. For example, he dismissed the congressional testimony on Iran from Director of National Intelligence Tulsi Gabbard: “I don’t care what she said.”
The problem goes deeper than the president, however. Intelligence-policy relations in a democracy are difficult because of the persuasive power of secret information. Policymakers fear that intelligence officials who control secrets might use them to undermine the policymakers’ plans. Intelligence officials worry that the policymakers will bully them into giving politically convenient answers. Such fears led to intelligence-policy breakdowns over estimates of enemy strength in the Vietnam War and estimates of Soviet missile capabilities in the early years of detente.
This mutual suspicion has become progressively worse since the end of the Cold War, as secret intelligence has become increasingly public. Intelligence leaders have become recognizable public figures, and intelligence judgments on current issues are often quickly declassified. The public now expects to have access to intelligence findings, and this has helped turn intelligence into a political football.
What lies ahead
What does all this mean for intelligence on Iran? Trump might ignore assessments he dislikes, given his history with intelligence. But the acrimonious public dispute over the Fordo strike may lead the White House to pressure intelligence leaders to toe the line, especially if critics demand a public accounting of secret intelligence.
Such an outcome would benefit nobody. The public would not have a better sense of the questions surrounding Iran’s nuclear effort, the intelligence community would suffer a serious blow to its reputation, and the administration’s efforts to use intelligence in public might backfire, as was the case for the George W. Bush administration after the war in Iraq.
Source: The Conversation – France – By Jérémy Lemarié, Maître de conférences à l’Université de Reims Champagne-Ardenne, Université de Reims Champagne-Ardenne (URCA)
Invented in Hawaii, surfing gained popularity in the United States and Australia in the 1950s before becoming a global phenomenon. Now practiced in more than 150 countries, its spread has been driven by media and tourism. Surf tourism involves travelling to destinations to catch waves, either with a surfboard or through activities such as body surfing or bodyboarding. Tourists range from seasoned surfers to beginners eager to learn.
The allure of California
For many, surf tourism evokes exotic imagery shaped by California production companies. Columbia Pictures in 1959 and Paramount Pictures in 1961 introduced surfing to the middle class, showcasing the sport as a gateway to summer adventure and escape. However, it was the 1966 movie The Endless Summer, directed and produced by Bruce Brown, that became a box office success. The film follows two Californians travelling the globe in search of the perfect wave, which they ultimately find in South Africa. Beneath the seemingly lighthearted portrayal of a “surf safari”, it carries undertones of colonial ambition.
In the film, the Californians tell people in Africa that waves are untapped resources ready to be named and conquered. This sense of Western cultural dominance over populations in poorer countries has permeated surf tourism. Since the 1970s, French surfers have flocked to Morocco for its long-breaking waves, Australians have flocked to Indonesia and Californians to Mexico. The expansion of surfing to Africa, Asia and Latin America was enabled by easier international travel and economic disparities between visitors and hosts.
Surfing’s impact on local communities
Indonesia, for instance, became a surfing hotspot after Australian surfers started to explore the waves of Bali and the Mentawai Islands in the 1970s. Once remote regions with modest living standards, these areas saw tourism infrastructure mushroom to meet demand. Today, destinations such as Uluwatu in Bali and Padang Padang in Sumatra attract surfers of all skill levels.
Similarly, Morocco has experienced a surge in surf tourism, with spots such as Taghazout drawing European visitors in search of affordable waves and sunshine. While this has boosted local economies, it has also raised concerns about environmental degradation and the strain of tourism on previously untouched areas.
The challenges of overtourism in coastal areas
Although surfing is often seen as an activity in harmony with nature, mass tourism has created tensions between local surfers and visitors. Overtourism refers to the negative impact of excessive tourist numbers on natural environments and local communities.
One response to overtourism is localism – where local surfers assert ownership of waves, sometimes discouraging or even intimidating outsiders. This has been particularly pronounced in economically dependent surf destinations. For example, in Hawaii during the 1970s and 1980s, local surfers protested against the influx of professional Australian surfers and international competitions. Today, localism persists globally, from Maroubra in Sydney to Boucau-Tarnos in France’s Nouvelle-Aquitaine region. These places are not systematically off-limits to beginners, but major conflicts can arise during peak tourist seasons.
Surf schools, while crucial for teaching newcomers, also exacerbate crowding. During high seasons, beaches such as Côte des Basques in Biarritz become overcrowded, straining relations between experienced surfers, instructors and novices. Beginners, often unaware of surf etiquette and safety rules, contribute to frustrations among seasoned surfers.
A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!
The role of public authorities
In response to these challenges, public initiatives have emerged to promote sustainable surf tourism. For instance, the Costa Rican government has established marine protected areas and regulated tourism activities to preserve a part of the coastal environment. Local authorities have also begun capping the number of surf schools and making access to the practice more difficult.
In southwestern France, municipalities use public service delegations (DSP), temporary occupation authorisations (AOT) and other tools to regulate surf schools operating on public beaches. Environmental awareness programmes have been launched to educate tourists on responsible behaviour toward beaches and oceans.
Gaps in regulation
Despite these measures, many coastal regions face insufficient action to address the environmental and social challenges posed by surf tourism. In Fiji, a 2010 decree deregulated the surf tourism industry, eliminating traditional indigenous rights to coastal and reef areas. This allowed unregulated development of tourism infrastructure, often ignoring long-term ecological impacts.
Similar issues are seen in Morocco, where lax regulations allow foreign investors to exploit coastal land for hotel development, often providing little benefit to local communities.
Yet, there are success stories. In Santa Cruz, California, the initiative Save Our Shores mobilises citizens and tourists to protect beaches through anti-pollution campaigns and regular cleanups.
Surf tourism has brought significant economic benefits to many coastal regions. However, it has also introduced social and environmental challenges, including localism, overcrowding and ecological strain. Managing these issues requires a collaborative approach, with governments, local stakeholders and tourists working together to preserve the sport’s connection to nature.
This article was published as part of the 2024 Fête de la Science, of which The Conversation France was a partner. The year’s theme, “Oceans of Knowledge,” explored the wonders of the marine world.
Jérémy Lemarié is a member of the Fulbright network, as the recipient of the “Chercheuses et Chercheurs” grant from the Franco-American Commission in 2022-2023.
Source: The Conversation – France – By Jérémy Lemarié, Maître de conférences à l’Université de Reims Champagne-Ardenne, Université de Reims Champagne-Ardenne (URCA)
Invented in Hawaii, surfing gained popularity in the United States and Australia in the 1950s before becoming a global phenomenon. Now practiced in more than 150 countries, its spread has been driven by media and tourism. Surf tourism involves travelling to destinations to catch waves, either with a surfboard or through activities such as body surfing or bodyboarding. Tourists range from seasoned surfers to beginners eager to learn.
The allure of California
For many, surf tourism evokes exotic imagery shaped by California production companies. Columbia Pictures in 1959 and Paramount Pictures in 1961 introduced surfing to the middle class, showcasing the sport as a gateway to summer adventure and escape. However, it was the 1966 movie The Endless Summer, directed and produced by Bruce Brown, that became a box office success. The film follows two Californians travelling the globe in search of the perfect wave, which they ultimately find in South Africa. Beneath the seemingly lighthearted portrayal of a “surf safari”, it carries undertones of colonial ambition.
In the film, the Californians tell people in Africa that waves are untapped resources ready to be named and conquered. This sense of Western cultural dominance over populations in poorer countries has permeated surf tourism. Since the 1970s, French surfers have flocked to Morocco for its long-breaking waves, Australians have flocked to Indonesia and Californians to Mexico. The expansion of surfing to Africa, Asia and Latin America was enabled by easier international travel and economic disparities between visitors and hosts.
Surfing’s impact on local communities
Indonesia, for instance, became a surfing hotspot after Australian surfers started to explore the waves of Bali and the Mentawai Islands in the 1970s. Once remote regions with modest living standards, these areas saw tourism infrastructure mushroom to meet demand. Today, destinations such as Uluwatu in Bali and Padang Padang in Sumatra attract surfers of all skill levels.
Similarly, Morocco has experienced a surge in surf tourism, with spots such as Taghazout drawing European visitors in search of affordable waves and sunshine. While this has boosted local economies, it has also raised concerns about environmental degradation and the strain of tourism on previously untouched areas.
The challenges of overtourism in coastal areas
Although surfing is often seen as an activity in harmony with nature, mass tourism has created tensions between local surfers and visitors. Overtourism refers to the negative impact of excessive tourist numbers on natural environments and local communities.
One response to overtourism is localism – where local surfers assert ownership of waves, sometimes discouraging or even intimidating outsiders. This has been particularly pronounced in economically dependent surf destinations. For example, in Hawaii during the 1970s and 1980s, local surfers protested against the influx of professional Australian surfers and international competitions. Today, localism persists globally, from Maroubra in Sydney to Boucau-Tarnos in France’s Nouvelle-Aquitaine region. These places are not systematically off-limits to beginners, but major conflicts can arise during peak tourist seasons.
Surf schools, while crucial for teaching newcomers, also exacerbate crowding. During high seasons, beaches such as Côte des Basques in Biarritz become overcrowded, straining relations between experienced surfers, instructors and novices. Beginners, often unaware of surf etiquette and safety rules, contribute to frustrations among seasoned surfers.
A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!
The role of public authorities
In response to these challenges, public initiatives have emerged to promote sustainable surf tourism. For instance, the Costa Rican government has established marine protected areas and regulated tourism activities to preserve a part of the coastal environment. Local authorities have also begun capping the number of surf schools and making access to the practice more difficult.
In southwestern France, municipalities use public service delegations (DSP), temporary occupation authorisations (AOT) and other tools to regulate surf schools operating on public beaches. Environmental awareness programmes have been launched to educate tourists on responsible behaviour toward beaches and oceans.
Gaps in regulation
Despite these measures, many coastal regions face insufficient action to address the environmental and social challenges posed by surf tourism. In Fiji, a 2010 decree deregulated the surf tourism industry, eliminating traditional indigenous rights to coastal and reef areas. This allowed unregulated development of tourism infrastructure, often ignoring long-term ecological impacts.
Similar issues are seen in Morocco, where lax regulations allow foreign investors to exploit coastal land for hotel development, often providing little benefit to local communities.
Yet, there are success stories. In Santa Cruz, California, the initiative Save Our Shores mobilises citizens and tourists to protect beaches through anti-pollution campaigns and regular cleanups.
Surf tourism has brought significant economic benefits to many coastal regions. However, it has also introduced social and environmental challenges, including localism, overcrowding and ecological strain. Managing these issues requires a collaborative approach, with governments, local stakeholders and tourists working together to preserve the sport’s connection to nature.
This article was published as part of the 2024 Fête de la Science, of which The Conversation France was a partner. The year’s theme, “Oceans of Knowledge,” explored the wonders of the marine world.
Jérémy Lemarié is a member of the Fulbright network, as the recipient of the “Chercheuses et Chercheurs” grant from the Franco-American Commission in 2022-2023.
Source: The Conversation – France – By Jérémy Lemarié, Maître de conférences à l’Université de Reims Champagne-Ardenne, Université de Reims Champagne-Ardenne (URCA)
Invented in Hawaii, surfing gained popularity in the United States and Australia in the 1950s before becoming a global phenomenon. Now practiced in more than 150 countries, its spread has been driven by media and tourism. Surf tourism involves travelling to destinations to catch waves, either with a surfboard or through activities such as body surfing or bodyboarding. Tourists range from seasoned surfers to beginners eager to learn.
The allure of California
For many, surf tourism evokes exotic imagery shaped by California production companies. Columbia Pictures in 1959 and Paramount Pictures in 1961 introduced surfing to the middle class, showcasing the sport as a gateway to summer adventure and escape. However, it was the 1966 movie The Endless Summer, directed and produced by Bruce Brown, that became a box office success. The film follows two Californians travelling the globe in search of the perfect wave, which they ultimately find in South Africa. Beneath the seemingly lighthearted portrayal of a “surf safari”, it carries undertones of colonial ambition.
In the film, the Californians tell people in Africa that waves are untapped resources ready to be named and conquered. This sense of Western cultural dominance over populations in poorer countries has permeated surf tourism. Since the 1970s, French surfers have flocked to Morocco for its long-breaking waves, Australians have flocked to Indonesia and Californians to Mexico. The expansion of surfing to Africa, Asia and Latin America was enabled by easier international travel and economic disparities between visitors and hosts.
Surfing’s impact on local communities
Indonesia, for instance, became a surfing hotspot after Australian surfers started to explore the waves of Bali and the Mentawai Islands in the 1970s. Once remote regions with modest living standards, these areas saw tourism infrastructure mushroom to meet demand. Today, destinations such as Uluwatu in Bali and Padang Padang in Sumatra attract surfers of all skill levels.
Similarly, Morocco has experienced a surge in surf tourism, with spots such as Taghazout drawing European visitors in search of affordable waves and sunshine. While this has boosted local economies, it has also raised concerns about environmental degradation and the strain of tourism on previously untouched areas.
The challenges of overtourism in coastal areas
Although surfing is often seen as an activity in harmony with nature, mass tourism has created tensions between local surfers and visitors. Overtourism refers to the negative impact of excessive tourist numbers on natural environments and local communities.
One response to overtourism is localism – where local surfers assert ownership of waves, sometimes discouraging or even intimidating outsiders. This has been particularly pronounced in economically dependent surf destinations. For example, in Hawaii during the 1970s and 1980s, local surfers protested against the influx of professional Australian surfers and international competitions. Today, localism persists globally, from Maroubra in Sydney to Boucau-Tarnos in France’s Nouvelle-Aquitaine region. These places are not systematically off-limits to beginners, but major conflicts can arise during peak tourist seasons.
Surf schools, while crucial for teaching newcomers, also exacerbate crowding. During high seasons, beaches such as Côte des Basques in Biarritz become overcrowded, straining relations between experienced surfers, instructors and novices. Beginners, often unaware of surf etiquette and safety rules, contribute to frustrations among seasoned surfers.
A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!
The role of public authorities
In response to these challenges, public initiatives have emerged to promote sustainable surf tourism. For instance, the Costa Rican government has established marine protected areas and regulated tourism activities to preserve a part of the coastal environment. Local authorities have also begun capping the number of surf schools and making access to the practice more difficult.
In southwestern France, municipalities use public service delegations (DSP), temporary occupation authorisations (AOT) and other tools to regulate surf schools operating on public beaches. Environmental awareness programmes have been launched to educate tourists on responsible behaviour toward beaches and oceans.
Gaps in regulation
Despite these measures, many coastal regions face insufficient action to address the environmental and social challenges posed by surf tourism. In Fiji, a 2010 decree deregulated the surf tourism industry, eliminating traditional indigenous rights to coastal and reef areas. This allowed unregulated development of tourism infrastructure, often ignoring long-term ecological impacts.
Similar issues are seen in Morocco, where lax regulations allow foreign investors to exploit coastal land for hotel development, often providing little benefit to local communities.
Yet, there are success stories. In Santa Cruz, California, the initiative Save Our Shores mobilises citizens and tourists to protect beaches through anti-pollution campaigns and regular cleanups.
Surf tourism has brought significant economic benefits to many coastal regions. However, it has also introduced social and environmental challenges, including localism, overcrowding and ecological strain. Managing these issues requires a collaborative approach, with governments, local stakeholders and tourists working together to preserve the sport’s connection to nature.
This article was published as part of the 2024 Fête de la Science, of which The Conversation France was a partner. The year’s theme, “Oceans of Knowledge,” explored the wonders of the marine world.
Jérémy Lemarié is a member of the Fulbright network, as the recipient of the “Chercheuses et Chercheurs” grant from the Franco-American Commission in 2022-2023.
Source: The Conversation – France – By Jérémy Lemarié, Maître de conférences à l’Université de Reims Champagne-Ardenne, Université de Reims Champagne-Ardenne (URCA)
Invented in Hawaii, surfing gained popularity in the United States and Australia in the 1950s before becoming a global phenomenon. Now practiced in more than 150 countries, its spread has been driven by media and tourism. Surf tourism involves travelling to destinations to catch waves, either with a surfboard or through activities such as body surfing or bodyboarding. Tourists range from seasoned surfers to beginners eager to learn.
The allure of California
For many, surf tourism evokes exotic imagery shaped by California production companies. Columbia Pictures in 1959 and Paramount Pictures in 1961 introduced surfing to the middle class, showcasing the sport as a gateway to summer adventure and escape. However, it was the 1966 movie The Endless Summer, directed and produced by Bruce Brown, that became a box office success. The film follows two Californians travelling the globe in search of the perfect wave, which they ultimately find in South Africa. Beneath the seemingly lighthearted portrayal of a “surf safari”, it carries undertones of colonial ambition.
In the film, the Californians tell people in Africa that waves are untapped resources ready to be named and conquered. This sense of Western cultural dominance over populations in poorer countries has permeated surf tourism. Since the 1970s, French surfers have flocked to Morocco for its long-breaking waves, Australians have flocked to Indonesia and Californians to Mexico. The expansion of surfing to Africa, Asia and Latin America was enabled by easier international travel and economic disparities between visitors and hosts.
Surfing’s impact on local communities
Indonesia, for instance, became a surfing hotspot after Australian surfers started to explore the waves of Bali and the Mentawai Islands in the 1970s. Once remote regions with modest living standards, these areas saw tourism infrastructure mushroom to meet demand. Today, destinations such as Uluwatu in Bali and Padang Padang in Sumatra attract surfers of all skill levels.
Similarly, Morocco has experienced a surge in surf tourism, with spots such as Taghazout drawing European visitors in search of affordable waves and sunshine. While this has boosted local economies, it has also raised concerns about environmental degradation and the strain of tourism on previously untouched areas.
The challenges of overtourism in coastal areas
Although surfing is often seen as an activity in harmony with nature, mass tourism has created tensions between local surfers and visitors. Overtourism refers to the negative impact of excessive tourist numbers on natural environments and local communities.
One response to overtourism is localism – where local surfers assert ownership of waves, sometimes discouraging or even intimidating outsiders. This has been particularly pronounced in economically dependent surf destinations. For example, in Hawaii during the 1970s and 1980s, local surfers protested against the influx of professional Australian surfers and international competitions. Today, localism persists globally, from Maroubra in Sydney to Boucau-Tarnos in France’s Nouvelle-Aquitaine region. These places are not systematically off-limits to beginners, but major conflicts can arise during peak tourist seasons.
Surf schools, while crucial for teaching newcomers, also exacerbate crowding. During high seasons, beaches such as Côte des Basques in Biarritz become overcrowded, straining relations between experienced surfers, instructors and novices. Beginners, often unaware of surf etiquette and safety rules, contribute to frustrations among seasoned surfers.
A weekly e-mail in English featuring expertise from scholars and researchers. It provides an introduction to the diversity of research coming out of the continent and considers some of the key issues facing European countries. Get the newsletter!
The role of public authorities
In response to these challenges, public initiatives have emerged to promote sustainable surf tourism. For instance, the Costa Rican government has established marine protected areas and regulated tourism activities to preserve a part of the coastal environment. Local authorities have also begun capping the number of surf schools and making access to the practice more difficult.
In southwestern France, municipalities use public service delegations (DSP), temporary occupation authorisations (AOT) and other tools to regulate surf schools operating on public beaches. Environmental awareness programmes have been launched to educate tourists on responsible behaviour toward beaches and oceans.
Gaps in regulation
Despite these measures, many coastal regions face insufficient action to address the environmental and social challenges posed by surf tourism. In Fiji, a 2010 decree deregulated the surf tourism industry, eliminating traditional indigenous rights to coastal and reef areas. This allowed unregulated development of tourism infrastructure, often ignoring long-term ecological impacts.
Similar issues are seen in Morocco, where lax regulations allow foreign investors to exploit coastal land for hotel development, often providing little benefit to local communities.
Yet, there are success stories. In Santa Cruz, California, the initiative Save Our Shores mobilises citizens and tourists to protect beaches through anti-pollution campaigns and regular cleanups.
Surf tourism has brought significant economic benefits to many coastal regions. However, it has also introduced social and environmental challenges, including localism, overcrowding and ecological strain. Managing these issues requires a collaborative approach, with governments, local stakeholders and tourists working together to preserve the sport’s connection to nature.
This article was published as part of the 2024 Fête de la Science, of which The Conversation France was a partner. The year’s theme, “Oceans of Knowledge,” explored the wonders of the marine world.
Jérémy Lemarié is a member of the Fulbright network, as the recipient of the “Chercheuses et Chercheurs” grant from the Franco-American Commission in 2022-2023.
Source: The Conversation – USA (2) – By Robert Bird, Professor of Business Law & Eversource Energy Chair in Business Ethics, University of Connecticut
Something dangerous is happening to the U.S. economy, and it’s not inflation or trade wars. Chaotic deregulation and the selective enforcement of laws have upended markets and investor confidence. At one point, the threat of tariffs and resulting chaos evaporated US$4 trillion in value in the U.S. stock market. This approach isn’t helping the economy, and there are troubling signs it will hurt both the U.S. and the global economy in the short and long term.
The rule of law – the idea that legal rules apply to everyone equally, regardless of wealth or political connections − is essential for a thriving economy. Yet globally the respect for the rule of law is slipping, and the U.S. is slipping with it. According to annual rankings from the World Justice Project, the rule of law has declined in more than half of all countries for seven years in a row. The rule of law in the U.S., the most economically powerful nation in the world, is now weaker than the rule of law in Uruguay, Singapore, Latvia and over 20 other countries.
When regulation is unnecessarily burdensome for business, government should lighten the load. However, arbitrary and frenzied deregulation does not free corporations to earn higher profits. As a business school professor with an MBA who has taught business law for over 25 years, and the author of a recently published book about the importance of legal knowledge to business, I can affirm that the opposite is true. Chaotic deregulation doesn’t drive growth. It only fuels risk.
Chaos undermines investment, talent and trust
Legal uncertainty has become a serious drag on American competitiveness.
A study by the U.S. Chamber of Commerce found that public policy risks — such as unexpected changes in taxes, regulation and enforcement — ranked among the top challenges businesses face, alongside more familiar business threats such as competition or economic volatility. Companies that can’t predict how the law might change are forced to plan for the worst. That means holding back on long-term investment, slowing innovation and raising prices to cover new risks.
When the government enforces rules arbitrarily, it also undermines property rights.
For example, if a country enters into a major trade agreement and then goes ahead and violates it, that threatens the property rights of the companies that relied on the agreement to conduct business. If the government can seize assets without due process, those assets lose their stability and value. And if that treatment depends on whether a company is in the government’s political favor, it’s not just bad economics − it’s a red flag for investors.
When government doesn’t enforce rules fairly, it also threatens people’s freedom to enter into contracts.
Consider presidential orders that threaten the clients of law firms that have challenged the administration with cancellation of their government contracts. The threat alone jeopardizes the value of those agreements.
If businesses can’t trust public contracts to be respected, they’ll be less likely to work with the government in the first place. This deprives the government, and ultimately the American people, of receiving the best value for their tax dollars in critical areas such as transportation, technology and national defense.
Regulatory chaos also allows corruption to spread.
For example, the Foreign Corrupt Practices Act, which prohibits businesses from bribing foreign government officials, has leveled the playing field for firms and enabled the best American companies to succeed on their merits. Before the law was enacted in 1977, some American companies felt pressured to pay bribes to compete. “Pausing” enforcement of the law, as the current presidential administration has done, increases the cost of doing business and encourages a wild west economy where chaos thrives.
Chaotic enforcement of the law also corrodes labor markets.
American companies require a strong pool of talented professionals to fuel their financial success. When legal rights are enforced arbitrarily or unjustly, the very best talent that American companies need may leave the country.
The science brain drain is already happening. American scientists have submitted 32% more applications for jobs abroad compared with last year. Nonscientists are leaving too. Ireland’s Department of Foreign Affairs has witnessed a 50% increase in Americans taking steps to obtain an Irish passport. Employers in the U.K. saw a spike in job applications from the United States.
Business from other countries will gladly accept American talent as they compete against American companies. During the Third Reich, Nazi Germany lost its best and brightest to other countries, including America. Now the reverse is happening, as highly talented Americans leave to work for firms in other nations.
Threats of arbitrary legal actions also drive away democratic allies and their prosperous populations that purchase American-made goods and services. For example, arbitrarily threatening to punish or even annex a closely allied nation does not endear its citizens to that government or the businesses it represents. So it’s no surprise that Canadians are now boycotting American goods and services. This is devastating businesses in American border towns and hurts the economy nationwide.
Similarly, the Canadian government has responded to whipsawing U.S. tariff announcements with counter-tariffs, which will slice the profits of American exporters. Close American allies and trading partners such as Japan, the U.K. and the European Union are also signaling their own willingness to impose retaliatory tariffs, increasing the costs of operations to American business even more.
Modern capitalism depends on smart regulation to thrive. Smart regulation is not an obstacle to capitalism. Smart regulation is what makes American capitalism possible. Smart regulation is what makes American freedom possible.
Clear and consistently applied legal rules allow businesses to aggressively compete, carefully plan, and generate profits. An arbitrary rule of law deprives business of the true power of capitalism – the ability to promote economic growth, spur innovation and improve the overall living standards of a free society. Americans deserve no less, and it is up to government to make that happen for everyone.
Robert Bird does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Gen. Dan Caine, chairman of the Joint Chiefs of Staff, describes the U.S. military attack on Iranian nuclear sites, which occurred on June 21, 2025, .AP Photo/Alex Brandon
The U.S. Air Force dropped a dozen ground-penetrating bombs, each weighing 30,000 pounds (13,607 kilograms), in a raid on Iran’s nuclear site at Fordo on June 21, 2025. The attack was an attempt to reach the uranium enrichment facility buried deep inside a mountain. The target, President Donald Trump declared, was “completely and totally obliterated.”
Others were less sure. On June 24, the administration canceled a classified intelligence briefing to members of Congress, leading to frustration among those with questions about White House claims. While Defense Intelligence Agency analysts apparently agree that the strikes did real damage, they dispute the idea that the attack permanently destroyed Iran’s enrichment capability. Reports emerged that their initial analysis found that the strikes had only set Iran back a few months.
Such disagreements are unsurprising. Battle damage assessment – originally called bomb damage assessment – is notoriously difficult, and past wars have featured intense controversies among military and intelligence professionals. In World War II, poor weather and the limits of available technology conspired against accuracy.
Battle damage assessment remained a thorny problem decades later, even after radical improvements in surveillance technology. In the first Gulf War in 1990, for example, military leaders argued with CIA officials over the effects of airstrikes against Iraq’s armored forces.
How the U.S. military’s ‘bunker buster’ bomb works.
Tools of the trade
The intelligence community has a number of tools and techniques that can help with challenges like assessing the damage at Fordo. Imagery intelligence such as satellite photography is the obvious starting point. Before-and-after comparisons might reveal collapsed tunnels or topographical changes, suggesting unseen subterranean damage.
More exotic data collection techniques may be able to help infer the underground effects based on particle and electromagnetic emissions from the site. These platforms provide what is called measurement and signatures intelligence. Specialized sensors can measure nuclear radiation, seismographic information and other potentially revealing information from camouflaged facilities. When combined with traditional imagery, measurement and signatures intelligence can provide a more detailed model of the likely effects of the bombing.
Other sources may prove useful as well. Reporting from human intelligence assets – spies or unwitting informers with firsthand or secondhand knowledge – may provide information on internal Iranian assessments. These may be particularly valuable because Iranian officials presumably know how much equipment was removed in advance, as well as the location of previously enriched uranium.
The same is true for signals intelligence, which intercepts and interprets communications. Ideally, battle damage assessment will become more comprehensive and accurate as these sources of intelligence are integrated into a single assessment.
Pervasive uncertainty
But even in that case, it will still be difficult to estimate the broader effects on Iran’s nuclear program. Measuring the immediate physical effects on Fordo and other nuclear sites is a kind of puzzle, or a problem that can be solved with sufficient evidence. Estimating the long-term effects on Iranian policy is a mystery, or a problem that cannot be solved even with abundant information on hand. It’s impossible to know how Iran’s leaders will adapt over time to their changing circumstances. They themselves cannot know either; perceptions of the future are inherently uncertain.
Regarding the puzzle over Fordo, Trump seems to believe that the sheer volume of explosives dropped on the site must have done the job. As White House Press Secretary Karoline Leavitt put it: “Everyone knows what happens when you drop 14 30,000-pound bombs perfectly on their targets: total obliteration.”
But the fact that Fordo is buried in the side of a mountain is a reason to doubt this commonsense conclusion. In addition, Iran may have moved enriched uranium and specialized equipment from the site in advance, limiting the effects on its nuclear program.
Trump’s instincts might be right. Or the skeptics might be right. Both make plausible claims. Analysts will need more intelligence from more sources to make a confident judgment about the effects on Fordo and on Iran’s broader nuclear efforts. Even then, it is likely that they will disagree on the effects, because this requires making predictions.
News coverage of the attack on Fordo and White House claims of success.
Politicized intelligence
In a perfect world, policymakers and intelligence officials would wrestle with dueling assessments in good faith. Such a process would take place outside the political fray, giving both sides the opportunity to offer criticism without being accused of political mischief. In this idealized scenario, policymakers could use reasonable intelligence conclusions to inform their decision-making process. After all, there are a lot of decisions about Middle Eastern security left to be made.
But we are not in a perfect world, and hopes for a good faith debate seem hopelessly naïve. Already the battle lines are being drawn. Congressional Democrats are suspicious that the administration is being disingenuous about Iran. The White House, for its part, is going on the offensive. “The leaking of this alleged assessment is a clear attempt to demean President Trump,” Leavitt declared in a written statement, “and discredit the brave fighter pilots who conducted a perfectly executed mission.”
Relations between policymakers and their intelligence advisers are often contentious, and U.S. presidents have a long history of clashing with spy chiefs. But intelligence-policy relations today are in a particularly dismal state. Trump bears the most responsibility, given his repeated disparagement of intelligence officials. For example, he dismissed the congressional testimony on Iran from Director of National Intelligence Tulsi Gabbard: “I don’t care what she said.”
The problem goes deeper than the president, however. Intelligence-policy relations in a democracy are difficult because of the persuasive power of secret information. Policymakers fear that intelligence officials who control secrets might use them to undermine the policymakers’ plans. Intelligence officials worry that the policymakers will bully them into giving politically convenient answers. Such fears led to intelligence-policy breakdowns over estimates of enemy strength in the Vietnam War and estimates of Soviet missile capabilities in the early years of detente.
This mutual suspicion has become progressively worse since the end of the Cold War, as secret intelligence has become increasingly public. Intelligence leaders have become recognizable public figures, and intelligence judgments on current issues are often quickly declassified. The public now expects to have access to intelligence findings, and this has helped turn intelligence into a political football.
What lies ahead
What does all this mean for intelligence on Iran? Trump might ignore assessments he dislikes, given his history with intelligence. But the acrimonious public dispute over the Fordo strike may lead the White House to pressure intelligence leaders to toe the line, especially if critics demand a public accounting of secret intelligence.
Such an outcome would benefit nobody. The public would not have a better sense of the questions surrounding Iran’s nuclear effort, the intelligence community would suffer a serious blow to its reputation, and the administration’s efforts to use intelligence in public might backfire, as was the case for the George W. Bush administration after the war in Iraq.
Debt pause clauses allow for the postponement of debt servicing during climate, health, or other crises, freeing up resources for response and recovery without compromising long-term economic and social sustainability.
The initiative, led by Spain and co-led by the EIB, is part of the agreements reached at the IV International Conference on Financing for Development, held in Seville.
The alliance remains an open and flexible coalition and brings together many countries and major multilateral banks
Spain, with the support of other countries and major multilateral development banks such as the European Investment Bank Group, unveiled the Debt Pause Clause Alliance at the IV International Conference on Financing for Development in Seville.
These clauses allow for the temporary suspension of debt payments in the face of extraordinary events — such as natural disasters, food crises, or health emergencies — offering borrowing countries immediate fiscal space to respond to the crisis without jeopardizing their solvency or their ability to meet social expenses. Their adoption promotes a more resilient and predictable development financing framework in times of crisis.
The alliance is an international coalition that seeks to accelerate the systematic inclusion of these clauses in public and private financial instruments. Additionally, it seeks to develop common principles and standard contractual language, thus generating transparent regulation that mobilizes the private sector.
The co-leaders of the initiative include the Inter-American Development Bank, the European Investment Bank, the African Development Bank, the Development Bank of Latin America and the Caribbean, the Asian Development Bank, as well as the governments of Barbados, Canada, Spain, France, and the United Kingdom.
The EIB has made Debt Pause Clauses available for contracts on its new operations in 70 countries.
“As the financial arm of the European Union, the EIB is offering solutions to countries and communities to ensure the most vulnerable are not left behind. In the past year, the EIB has made climate resilient debt clauses available to 70 developing countries around the world. Today, we show our commitment to global partnerships for prosperity, win win outcomes and peace,” said Nadia Calviño, president of the European Investment Bank.
Source: Hong Kong Government special administrative region – 4
The Secretary for Housing, Ms Winnie Ho, began her visit to Lisbon, Portugal, yesterday (July 2, Lisbon time). She first met with the Secretary of State for Housing in the Ministry of Infrastructure and Housing, Ms Patrícia Gonçalves Costa, to exchange views on the housing policies of the two places. She attended the International Forum on Urbanism (IFoU) held at the Pavilion of Portugal for the previous World Expo afterwards and explored the latest trends of housing planning, design and management, community engagement and more with scholars, industry representatives, professional bodies and students from the Mainland, Europe and the United States. She also took the opportunity to promote Hong Kong’s resident-oriented “Well-being design” concepts and strategies.
Ms Ho attended the IFoU Winter School workshop held in Hong Kong earlier this year, where she shared a vision on public housing projects over the next five years including those in the Northern Metropolis, and how to integrate the eight well-being concepts from the “Well-being design” guide into public housing developments. Speaking at the IFoU, Ms Ho said that she was delighted to be invited again to attend this forum and exchange views with international scholars, political and business sectors and young people on Hong Kong’s public housing design and development.
She stated in the plenary session that public housing construction not only promotes the development of innovative construction technologies, but also enables further exploration of resident-oriented design to build a more interactive, energetic community that enhances intergenerational harmony. The Housing Bureau and the Hong Kong Housing Authority (HKHA) launched the “Well-being design” guide last year, which covers eight well-being concepts, namely “Health & Vitality”, “Green Living and Sustainability”, “Age-Friendliness”, “Intergenerational & Inclusive Living”, “Family & Community Connection”, “Urban Integration”, “Upward Mobility” and “Perception & Image”. It serves as a reference for the future design of new public housing estates and the improvement works of existing estates to create a more comfortable and vibrant living environment for its residents.
Ms Ho said that with 308 000 public housing units to be built in the next 10 years, new public housing estates will have an average of 4 000 to 5 000 units, in which around 10 000 people will reside. The completion of each housing estate is like establishing a new small community, with common areas for various residents’ activities to take place and bring people together. Within a 15-minute living circle, various shops are available to meet the daily needs of residents, and social welfare facilities and schools are provided. Public transportation is available to enable the residents’ commute and help them stay connected with society. The HKHA is also increasing green spaces in the estates through landscaping to promote green, healthy living, and is introducing new technologies to save energy and reduce carbon emissions.
Ms Ho said that Hong Kong can give full play to the role of being a “super connector” through interactions and exchanges in different places: on one hand promoting the HKHA’s evolving design and experiences in construction and management since its establishment over 50 years ago, the application of the “Well-being design” guide and innovative construction technologies to outside of Hong Kong. On the other hand, Hong Kong is gaining a better understanding of the efforts of other places in carbon reduction, energy saving and sustainable development, and more.
The IFoU is an international platform for converging innovative ideas on architecture and urban planning. International conferences and workshops on architecture and urban design are organised in different cities each year, allowing representatives and students from member institutions around the world to exchange ideas. This year’s conference, themed “Future Living” has seven topics, namely “Dwelling”, “Connecting”, “Integrating”, “Adapting”, “Visioning”, “Steering”, and “Sharing”, and was hosted by the University of Lisbon. Participants of the forum explored ideas towards future living environments to foster cross-sectoral co-operation to cope with various challenges, and formulate innovative plans for sustainable development.
After the forum, Ms Ho and the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Ms Maisie Chan, had dinner with the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Portuguese Republic, Mr Zhao Bentang, and briefed him on Hong Kong’s latest housing policies and initiatives, including promoting the development of innovative housing construction technologies by capitalising on the strengths of the GBA; leveraging Hong Kong’s important role as a “super connector” and a “super value-adder” between the Mainland and the rest of the world, serving as a two-way springboard for Mainland enterprises to go global, and for attracting overseas enterprises.
Ms Ho will continue her visit in Lisbon today (July 3, Lisbon time) before departing for Barcelona, Spain.
Source: Hong Kong Government special administrative region
The Chinese Culture Festival (CCF) 2025, organised by the Leisure and Cultural Services Department (LCSD), has invited the Shanghai Xuhui Chiangqiao Jiangnan Silk and Bamboo Ensemble (the ensemble) to make its Hong Kong debut and stage two concerts in early August. As a representative inheritor organisation of the Intangible Cultural Heritage of Shanghai Municipality, the ensemble’s three representative inheritors of Jiangnan silk and bamboo, along with young professional musicians, will perform a selection of classical pieces from the “Eight Masterpieces of Silk and Bamboo Music” (“Eight Masterpieces”) and other famous compositions. Through century-old string and wind music, they will evoke the authentic cultural essence of the Jiangnan region.
Jiangnan silk and bamboo music is a traditional form of ensemble music popular in the southern Jiangsu, western Zhejiang and Shanghai regions, featuring Chinese string (silk) and wind (bamboo) instruments, such as erhu, yangqin, pipa, sanxian, dizi and sheng. It was inscribed on the first list of Intangible Cultural Heritage at the National Level in 2006. Its artistic style is characterised by qualities including delicacy, lightness, finesse and elegance. With diverse variation techniques such as “slowing down” (expanding the original melody’s rhythm and phrasing) and “ornamentation” (inserting new ornamental notes into the melody), complemented by synergy among the musicians and improvisation, the music presents a fascinating kaleidoscope of sound. The repertoire of Jiangnan silk and bamboo music is vast, with the “Eight Masterpieces” being the most representative of the works.
Zhou Feng (dizi) and Liu Yuehua (erhu), the representative inheritors of Jiangnan silk and bamboo of Shanghai Municipality, and Mi Peirong (yangqin), representative inheritor of Jiangnan silk and bamboo of Xuhui District, together with accomplished performers of sheng, pipa and sanxian will present two concerts featuring compositions from the “Eight Masterpieces”, including “Song of Joy”, “Sanliu” and “Zhonghua Liuban” as well as famous silk and bamboo classics “Song of the Warm Southerly Breeze” and “Song of Yang Ba”. Furthermore, each concert will feature distinctive selections: the first concert will present “Man Liuban” and “Festival March” from the “Eight Masterpieces”, along with the celebrated silk and bamboo piece “Rainbow Skirt Song”. The second concert will feature “Cloud Celebration” and “Best Wishes” from the “Eight Masterpieces”, as well as the beloved “Moonlight on the Spring River”.
The Shanghai Xuhui Chiangqiao Jiangnan Silk and Bamboo Ensemble is dedicated to safeguarding and passing on traditional Jiangnan silk and bamboo music in its pristine form. The ensemble’s members have inherited their musical heritage from previous generations in the family, with decades of performing experience and deep mastery of traditional playing techniques of the musical art form. In 2024, the ensemble was recognised as being among the seventh batch of representative inheritor organisations of the Intangible Cultural Heritage of Shanghai Municipality.
The first concert by the Shanghai Xuhui Chiangqiao Jiangnan Silk and Bamboo Ensemble will be held at 8pm on August 2 (Saturday) at the Theatre of Ngau Chi Wan Civic Centre. The second concert will be held at 8pm on August 3 (Sunday) at the Theatre of Sheung Wan Civic Centre. Tickets priced at $220 and $280 are now available at URBTIX (www.urbtix.hk). Group booking discounts and package booking discounts are available for purchasing selected CCF stage programmes, the “Chinese Opera Film Shows” of the Chinese Opera Festival (COF) 2025 and the “Legacy and Vision: Conversations with Chinese Cultural Masters” lecture. For telephone bookings, please call 3166 1288. For programme enquiries and concessionary schemes, please call 2268 7321 or visit www.ccf.gov.hk/en/programme/concert-by-shanghai-xuhui-chiangqiao-jiangnan-silk-and-bamboo-ensemble.
A pre-concert talk entitled “Pure Melodies of Silk Strings: The Elegant Sounds of Jiangnan’s Silk and Bamboo Music” (in Putonghua) will be held at 7pm on August 3 (Sunday) at the Lecture Hall of Sheung Wan Civic Centre. The speakers include Shanghai Conservatory of Music Professor Xiao Mei and Shanghai Normal University Music College Associate Professor Li Ya. They will discuss the development and inheritance of Jiangnan silk and bamboo music and explore the principles of improvisation, guiding audiences to discover its charm and cultural connotations. Admission is free. Limited seats are available on a first-come, first-served basis.
The CCF, presented by the Culture, Sports and Tourism Bureau and organised by the Chinese Culture Promotion Office under the LCSD, aims to promote Chinese culture and enhance the public’s national identity and cultural confidence. It also aims to attract top-notch artists and arts groups from the Mainland and other parts of the world for exchanges in Chinese arts and culture. The CCF 2025 is held from June to September. Through different performing arts programmes in various forms and related extension activities, including selected programmes of the COF, “Tan Dun WE-Festival”, film screenings, exhibitions, as well as community and school activities and more, the festival provides members of the public and visitors with more opportunities to enjoy distinctive programmes that showcase fine traditional Chinese culture, thereby facilitating patriotic education and contributing to the inheritance, transformation and development of traditional Chinese culture in Hong Kong. For more information about programmes and activities of the CCF 2025, please visit www.ccf.gov.hk.
Carbon pricing is increasingly recognized worldwide as a powerful tool to combat the devastating impacts of climate change. But what exactly is it, and how does it work? Let’s explore this transformative approach to driving a greener and more sustainable future.
Carbon pricing is a policy mechanism that puts a financial cost on greenhouse gas emissions. This policy tool is primarily aimed at discouraging emitters of the greenhouse gas especially carbon dioxide and encouraging individuals, industries and other stakeholders to reduce such emissions to save the mother earth, as climate change is causing a great deal of damage in almost every part of the world, which appears irreparable in several cases.
Driven largely by the excessive emission of greenhouse gases like carbon dioxide, climate change is increasingly posing a critical threat to global ecosystems, economies and societies. In the process, one of the most effective tools developed to mitigate these emissions is carbon pricing. This mechanism mandates to internalize the environmental damage caused by pollution, thus encouraging industries and consumers to reduce their carbon footprint.
To understand it lucidly, carbon pricing is an economic strategy designed to reduce global warming. It reflects the cost of carbon emissions in the market, encouraging emitters to either reduce their emissions or pay for the same. In simple terms, it is a kind of financial penalty imposed on the release of carbon dioxide into the atmosphere by the people, industries or other stakeholders.
There are two primary forms of carbon pricing- carbon tax and cap-and-trade. Each of these mechanisms puts a price on carbon, but in different ways. While, carbon tax directly sets a price on carbon by defining a tax rate on greenhouse gas emissions or more commonly on the carbon content of fossil fuels, making it easier for businesses to plan future investments.
Besides, carbon tax is imposed by the government on on fossil fuels like coal, oil and gas based on their carbon content. The higher the emissions associated with a fuel, the higher the tax, making high emission fuels more expensive, thus encouraging a shift towards cleaner energy sources. For example, Sweden has one of the highest carbon taxes in the world, set at around $130 per tonne of CO₂. The country has reduced carbon emissions significantly while maintaining economic growth since its adoption of the mechanism in 1991.
On the other hand, under Cap-and-Trade or Emissions Trading System (ETS), the government sets a total cap on emissions and distributes or auctions emission permits to emitters. Companies can buy and sell these allowances, creating a market for carbon emissions. Without doubt, a cap limits total emissions for a group of industries or the entire economy.
In this system, companies receive or purchase allowances representing the right to emit a specific amount of CO2, and if a company emits less than its allowance, it can sell the surplus to other companies. Similarly, if a company exceeds the allowance level, it must buy more. Here, it is interesting to note that the cap doesn’t remain fixed, but is gradually reduced over time to decrease total emissions.
The European Union emissions trading system is the largest and most established cap-and-trade system, as it covers more than 11,000 power plants and factories across Europe and is a cornerstone of the EU’s climate policy.
However, a number of countries worldwide have adopted carbon pricing mechanisms including those in Europe. Canada, China, Japan, South Korea, USA, New Zealand, Britain, South Africa, Mexico, Kazakhstan, Singapore, Colombia, Ukrain, Indonesia, Vietnam and a few others have already adopted different mechanisms. The pioneers in the process are Sweden and Finland. While Sweden introduced it in 1991, Finland was the first country to introduce a carbon tax in 1990.
While, the impacts of climate change are widespread, serious experienced across the globe, the trends to contain it through carbon pricing mechanisms are also encouraging. According to estimates, as of now, carbon pricing mechanisms cover about 23% of global greenhouse gas emissions. The total global value of carbon pricing instruments in operation exceeds $100 billion annually.
At the same time, there is a growing push for international coordination, especially through article 6 of the Paris Agreement, which allows countries to trade emissions reductions. Thus, the carbon market has grown rapidly in the past decade, fueled by increased climate commitments under the Paris Agreement and the development of regional and national carbon pricing mechanisms.
To know more about how different countries of the world are responding to these initiatives, we can approach to the World Bank’s Carbon Pricing Dashboard, which provides a comprehensive overview of carbon pricing initiatives worldwide, including their design, coverage and price levels. The World Bank report on the trends of carbon pricing also shows a significant increase in the number of operational carbon pricing instruments and highlights the growing trend of carbon pricing globally.
In recent years, especially since Narendra Modi government came at the Centre, India has also been rapidly advancing toward a structured and regulated carbon pricing ecosystem. It is a part of India’s broader climate and sustainable development agenda.
Amid the growing global focus on carbon markets and emissions trading, India is taking significant steps toward establishing a rate-based Emissions Trading System (ETS) along with complementary voluntary carbon credit mechanisms. The World Bank’s ‘State and Trends of Carbon Pricing 2025’ report highlights India’s expanding role as a key emerging economy shaping the future of global climate finance and carbon pricing architecture.
Rate-based ETS refers to a system where total emissions are not capped but individual entities are allocated a performance benchmark that serves as a limit on their net emissions. Rate-based ETSs offer additional flexibility in managing future growth uncertainty as well as international competitiveness concerns.
India’s Carbon Credit Trading Scheme (CCTS) is a strategic initiative aimed at reducing greenhouse gas emissions through carbon pricing. It comprises two main components- a compliance mechanism for obligated entities, especially for the industrial sector and an offset mechanism to enable voluntary participation.
The scheme being worked out in India, is designed to incentivize and support efforts toward decarbonizing the Indian economy. By establishing the necessary institutional framework, the CCTS has laid the groundwork for the development of the Indian Carbon Market (ICM).
It’s heartening to note here that carbon pricing is no longer a niche policy meant for only rich countries, now it has become a mainstream tool for climate action worldwide including India and other developing countries. Whether through carbon taxes or emissions trading systems, countries are finding ways to internalize the environmental costs of carbon and transition toward a low-carbon future, which augur well for the future of the planet.
China’s embassy in Fiji denied on Thursday that Beijing wanted a military base or sphere of influence in the Pacific Islands, after Fiji’s Prime Minister Sitiveni Rabuka said islands were trying to cope with a powerful China seeking to spread its influence.
“The claims about China setting up a military base in the Pacific are false narratives,” an embassy spokesperson said in a statement.
“China’s presence in the Pacific is focused on building roads and bridges to improve people’s livelihoods, not on stationing troops or setting up military bases.”
Rabuka said on Wednesday his country had development cooperation with China, but was opposed to Beijing establishing a military base in the region. In any case, China did not need a base to project power in the region, he added.
China tested an intercontinental ballistic missile in September that flew over Fiji to land 11,000 km (6,800 miles) from China in the international waters of the Pacific Ocean.
“If they can very well target an empty space they can very well target occupied space,” Rabuka told the National Press Club in Canberra.
Washington became concerned about China’s ambition to gain a military foothold in the Pacific Islands in 2018 when Beijing sought to redevelop a naval base in Papua New Guinea and a military base in Fiji. China was outbid by Australia for both projects.
The concern resurfaced in 2022 when China signed a security pact with Solomon Islands, prompting Washington to warn it would respond if Beijing established a permanent military presence.
In November, the outgoing U.S. Deputy Secretary of State Kurt Campbell urged the Trump administration to keep its focus on the region because China wanted to build bases in the Pacific Islands.
The Chinese embassy spokesperson said Fiji and China respect each other’s sovereignty.
“China has no interest in geopolitical competition, or seeking the so-called ‘sphere of influence’,” the statement added.
China has established a police presence in Solomon Islands, Kiribati and Vanuatu.
The India Meteorological Department (IMD) on Thursday predicted heavy to very heavy rainfall in Himachal Pradesh and Uttarakhand over the next five days.
As per IMD, heavy to very heavy rainfall activity is likely to continue over large parts of northwest, central, eastern, and northeastern India, as well as along the west coast, over the next six to seven days.
Extremely heavy rainfall – measuring 21 cm or more – is likely at isolated locations in east Rajasthan, the ghat areas of central Maharashtra, south coastal Maharashtra and Goa, and parts of coastal and south interior Karnataka today.
Weather forecast for Delhi-NCR
In the national capital region, Delhi is likely to see partly cloudy skies with light rain and thunderstorms over the coming days.
Today, the maximum temperature is expected to range between 36°C and 38°C, with very light to light rain accompanied by thunderstorms or lightning. Winds will predominantly blow from the southeast at speeds under 20 kmph during the afternoon, decreasing to 10–15 kmph by night.
On July 4, the weather will remain partly cloudy with chances of light rainfall and thunderstorms. Maximum and minimum temperatures are expected to range between 36–38°C and 26–28°C, respectively, remaining close to the seasonal average. Winds will be lighter, ranging from 8 to 15 kmph, mostly from the southeast and southwest directions.
By July 5, light to moderate rain with thunderstorms is predicted, accompanied by a drop in temperatures. The maximum temperature is expected to settle between 35°C and 37°C, while the minimum may fall to 24–26°C—1 to 3°C below normal. Winds will be relatively light, shifting from east to southeast during the day and picking up slightly by evening.
July 6 may bring further relief, with moderate rainfall expected and temperatures dipping further. The maximum temperature may range from 32°C to 34°C—3 to 5°C below normal—while the minimum is likely to stay between 26°C and 28°C. Winds will predominantly blow from the southwest at light speeds throughout the day.
The India Meteorological Department (IMD) on Thursday predicted heavy to very heavy rainfall in Himachal Pradesh and Uttarakhand over the next five days.
As per IMD, heavy to very heavy rainfall activity is likely to continue over large parts of northwest, central, eastern, and northeastern India, as well as along the west coast, over the next six to seven days.
Extremely heavy rainfall – measuring 21 cm or more – is likely at isolated locations in east Rajasthan, the ghat areas of central Maharashtra, south coastal Maharashtra and Goa, and parts of coastal and south interior Karnataka today.
Weather forecast for Delhi-NCR
In the national capital region, Delhi is likely to see partly cloudy skies with light rain and thunderstorms over the coming days.
Today, the maximum temperature is expected to range between 36°C and 38°C, with very light to light rain accompanied by thunderstorms or lightning. Winds will predominantly blow from the southeast at speeds under 20 kmph during the afternoon, decreasing to 10–15 kmph by night.
On July 4, the weather will remain partly cloudy with chances of light rainfall and thunderstorms. Maximum and minimum temperatures are expected to range between 36–38°C and 26–28°C, respectively, remaining close to the seasonal average. Winds will be lighter, ranging from 8 to 15 kmph, mostly from the southeast and southwest directions.
By July 5, light to moderate rain with thunderstorms is predicted, accompanied by a drop in temperatures. The maximum temperature is expected to settle between 35°C and 37°C, while the minimum may fall to 24–26°C—1 to 3°C below normal. Winds will be relatively light, shifting from east to southeast during the day and picking up slightly by evening.
July 6 may bring further relief, with moderate rainfall expected and temperatures dipping further. The maximum temperature may range from 32°C to 34°C—3 to 5°C below normal—while the minimum is likely to stay between 26°C and 28°C. Winds will predominantly blow from the southwest at light speeds throughout the day.