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Category: Banking

  • MIL-OSI Translation: Meeting of the Council of Ministers on 25 September 2024

    MIL OSI Translation. Timor-Leste Portuguese to English –

    Presidency of the Council of Ministers

    Spokesperson for the Government of Timor-Leste
    ……………………………………………. ……………………………………………. …………………….

    Press release

    Meeting of the Council of Ministers on 25 September 2024

    The Council of Ministers met at the Government Palace in Dili and approved the draft Government Resolution, presented by the Minister of the Presidency of the Council of Ministers in office, Adérito Hugo da Costa, and by the President of the Civil Service Commission, Agostinho Letêncio de Deus, which sets the vacancies for the promotion of personnel integrated in the General Regime of Public Administration Careers for the year 2024.

    Of the total of 817 vacancies for promotion established by this Government Resolution, 47 are for the category of Senior Technician – Grade A, 122 for Senior Technician – Grade B, 188 for Professional Technician – Grade C, 234 for Professional Technician – Grade D, 149 for Administrative Technician – Grade E and 77 for Assistant – Grade F.

    Vacancies for promotion are set annually by the Government, based on a proposal from the Civil Service Commission, up to a limit of ten percent of the total staff in each category or professional group.

    *****

    An initial assessment was made of the initiative to create a seniority-based promotion system for civil servants, also presented by the Presidency of the Council of Ministers and the Civil Service Commission, concerning. This initiative aims to ensure career progression for those who, for various reasons, have not been able to obtain merit-based promotions in recent years, based on criteria such as seniority, performance, age, professional training, work in remote areas, good behaviour and attendance.

    *****

    The Secretary of State for Equality, Elvina de Sousa Carvalho, made a presentation to the Council of Ministers on the implementation of the gender equality policy and the recommendations of the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW). The Third Phase of the Maubisse Declaration (2023-2028) was also presented, which follows on from the previous phases, focusing on the economic empowerment of rural women and people with disabilities. This phase is aligned with the priorities of the IX Constitutional Government and the recommendations of the Convention on the Elimination of All Forms of Discrimination against Women (CEDAW).

    The main commitments of this phase are organised into three areas: Social Capital, which covers social protection, inclusive education and health care, with a focus on preventing gender-based violence and improving maternal health care; Infrastructure, which promotes access to safe and accessible markets, the development of roads, sanitation and adapted public buildings, with a focus on inclusive public transport; and Economy, which prioritises agricultural development, female entrepreneurship and access to credit for rural women, strengthening their participation in sectors such as tourism and agriculture. Monitoring mechanisms are also being strengthened to ensure the implementation of these commitments. Implementation is led by several key government institutions, including relevant ministries and the National Bank of Commerce of Timor-Leste (BNCTL), which ensure the effective implementation of the planned measures.

    *****

    In order to resolve the payment of existing debts to hospitals abroad and ensure the continuity of health services, the Council of Ministers decided to instruct the Minister of Health to carry out a detailed survey of debts and payment deadlines, as well as the funds available to meet these commitments. The Minister of Health must establish prioritization criteria for payments, based on the urgency of the services, risks to public health and impact on hospital operations.

    Among other measures, the Council of Ministers also instructed the Minister of Health to start negotiations with hospitals for debt restructuring and to propose to the Ministry of Finance a budgetary reinforcement for the health sector. The implementation of these measures will be monitored by a working group created specifically for this purpose, which will be required to report regularly to the Council of Ministers on the progress made in regularizing hospital debts. ENDS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

    September 29, 2024
  • MIL-OSI Banking: Verizon Business delivers mission-critical connectivity to South Carolina Army National Guard

    Source: Verizon

    Headline: Verizon Business delivers mission-critical connectivity to South Carolina Army National Guard

    • The South Carolina Army National Guard has selected Verizon as its primary wireless communications partner
    • Contract includes more than 1,000 lines of service, ranging from smartphones to data devices

    COLUMBIA, S.C. – Verizon Business today announced a new contract with the South Carolina Army National Guard (SCARNG), becoming the primary wireless communications provider of the state-based military component.

    The deal encompasses connectivity for more than 1,000 devices ranging from 5G Ultra Wideband (UW) and 4G LTE smartphones to data devices like jet packs.

    The communications capabilities provided by these devices will play a key factor in the SCARNG’s ability to achieve its mission across the state of South Carolina.

    The SCARNG will also have access to the Verizon Frontline Crisis Response Team, a specialized group composed primarily of former first responders and military personnel, dedicated to supporting public safety and government agencies during emergencies at no cost to the supported agencies.

    This team provides on-demand, emergency assistance during crisis situations on a 24/7 basis. Verizon Frontline Crisis Response Team members set up portable cell sites, Wi-Fi hotspots, charging stations and other Verizon Frontline devices and solutions that enable communications and/or boost network performance.

    The SCARNG serves the state of South Carolina by responding to domestic emergencies, such as natural disasters, and by assisting in special situations. The SCARNG can also provide staff operations to support the governor during contingency operations.

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI Russia: High-Level Retreat in New Hampshire as part of Bretton Woods at 80 Initiative

    Source: IMF – News in Russian

    September 24, 2024

    WASHINGTON  – As part of the previously announced Bretton Woods at 80 Initiative, the IMF and the World Bank Group are hosting a high-level retreat at Bretton Woods, New Hampshire, on September 26‒27, 2024.

    This two-day Chatham House Rules event will bring together a small and diverse group of global thinkers—including individuals prominent in the fields of history, international relations, political science, finance, and business—at the location of the 1944 United Nations Monetary and Financial Conference (the “Bretton Woods Conference”).

    The three External Advisors to the Bretton Woods at 80 Initiative, Patrick Achi, Sri Mulyani Indrawati, and Mark Malloch-Brown, will help guide the discussions.

    Senior management and staff from both the Bank and the Fund will be in attendance, including President Ajay Banga and Managing Director Kristalina Georgieva.

    The purpose of the retreat is to facilitate a discussion on the shape of the world economy 20‒30 years from now, how multilateralism may evolve, and how the Bank and Fund can best continue to support stability and progress on a livable planet.

    This retreat is part of an ongoing series of consultations with IMF and World Bank stakeholders that will continue to be led by the External Advisors at events and engagements over the coming months.

     

     

    Contacts:

    For the IMF: Pavis Devahasadin, media@imf.org

    For the World Bank: David M. Theis, dtheis@worldbankgroup.org

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/09/23/pr24341-high-level-retreat-in-new-hampshire-as-part-of-bretton-woods-at-80-initiative

    MIL OSI

    MIL OSI Russia News –

    September 29, 2024
  • MIL-OSI USA: Adam G. Brief Appointed as Acting U.S. Trustee for Northern Illinois and Wisconsin

    Source: US State of North Dakota

    Adam G. Brief has been appointed by Attorney General Merrick B. Garland as the Acting U.S. Trustee for Northern Illinois and Wisconsin (Region 11) effective Sept. 28, the Executive Office for U.S. Trustees announced today. Brief replaces Patrick S. Layng, who is retiring after 36 years of dedicated service to the Justice Department, including the last 14 years as the U.S. Trustee in Region 11. Under 28 U.S.C. § 585(a), the Attorney General may fill U.S. Trustee vacancies by appointing an Acting U.S. Trustee.

    Brief has served as the Assistant U.S. Trustee in charge of the Chicago field office since joining the U.S. Trustee Program in 2015 after 14 years in private practice. Brief’s effective coordination with the U.S. Attorney’s Office for the Northern District of Illinois has contributed to several successful high-profile criminal prosecutions. In addition to being a frequent speaker at legal seminars and conferences, Brief teaches a lawyering skills course at the University of Illinois Chicago Law School. He received his bachelor’s degree in history and political science from Rutgers University Livingston College and his law degree from Seton Hall University. After law school, Brief was a term law clerk for Judge Stephen Stripp of the U.S. Bankruptcy Court for the District of New Jersey. For six years before joining the USTP, while still in private practice, he served as an investigator appointed by the Supreme Court of New Jersey to a district ethics committee.

    The USTP’s mission is to promote the integrity and efficiency of the bankruptcy system for the benefit of all stakeholders – debtors, creditors and the public. The USTP consists of 21 regions with 89 field offices nationwide and an Executive Office in Washington, D.C. Learn more about the USTP at www.justice.gov/ust. 

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI Security: Adam G. Brief Appointed as Acting U.S. Trustee for Northern Illinois and Wisconsin

    Source: United States Attorneys General 1

    Adam G. Brief has been appointed by Attorney General Merrick B. Garland as the Acting U.S. Trustee for Northern Illinois and Wisconsin (Region 11) effective Sept. 28, the Executive Office for U.S. Trustees announced today. Brief replaces Patrick S. Layng, who is retiring after 36 years of dedicated service to the Justice Department, including the last 14 years as the U.S. Trustee in Region 11. Under 28 U.S.C. § 585(a), the Attorney General may fill U.S. Trustee vacancies by appointing an Acting U.S. Trustee.

    Brief has served as the Assistant U.S. Trustee in charge of the Chicago field office since joining the U.S. Trustee Program in 2015 after 14 years in private practice. Brief’s effective coordination with the U.S. Attorney’s Office for the Northern District of Illinois has contributed to several successful high-profile criminal prosecutions. In addition to being a frequent speaker at legal seminars and conferences, Brief teaches a lawyering skills course at the University of Illinois Chicago Law School. He received his bachelor’s degree in history and political science from Rutgers University Livingston College and his law degree from Seton Hall University. After law school, Brief was a term law clerk for Judge Stephen Stripp of the U.S. Bankruptcy Court for the District of New Jersey. For six years before joining the USTP, while still in private practice, he served as an investigator appointed by the Supreme Court of New Jersey to a district ethics committee.

    The USTP’s mission is to promote the integrity and efficiency of the bankruptcy system for the benefit of all stakeholders – debtors, creditors and the public. The USTP consists of 21 regions with 89 field offices nationwide and an Executive Office in Washington, D.C. Learn more about the USTP at www.justice.gov/ust. 

    MIL Security OSI –

    September 29, 2024
  • MIL-OSI Russia: High-Level Retreat in New Hampshire as part of Bretton Woods at 80 Initiative

    MIL OSI Translation. Region: Russian Federation –

    Source: IMF – News in English

    September 24, 2024

    WASHINGTON – As part of the previously announced Bretton Woods at 80 Initiative, the IMF and the World Bank Group are hosting a high-level retreat at Bretton Woods, New Hampshire, on September 26‒27, 2024.

    This two-day Chatham House Rules event will bring together a small and diverse group of global thinkers—including individuals prominent in the fields of history, international relations, political science, finance, and business—at the location of the 1944 United Nations Monetary and Financial Conference (the “Bretton Woods Conference”).

    The three External Advisors to the Bretton Woods at 80 Initiative, Patrick Achi, Sri Mulyani Indrawati, and Mark Malloch-Brown, will help guide the discussions.

    Senior management and staff from both the Bank and the Fund will be in attendance, including President Ajay Banga and Managing Director Kristalina Georgieva.

    The purpose of the retreat is to facilitate a discussion on the shape of the world economy 20‒30 years from now, how multilateralism may evolve, and how the Bank and Fund can best continue to support stability and progress on a livable planet.

    This retreat is part of an ongoing series of consultations with IMF and World Bank stakeholders that will continue to be led by the External Advisors at events and engagements over the coming months.

     

     

    Contacts:

    For the IMF: Pavis Devahasadin,media@imf.org

    For the World Bank: David M. Theis,dteis@worldbankgroup.org

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

    Phone: 1 202 623-7100 Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/09/23/pr24341-high-level-retreat-in-new-hampshire-as-part-of-bretton-woods-at-80- initiative

    MIL OSI

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

    September 29, 2024
  • MIL-OSI Economics: Microsoft Trustworthy AI: Unlocking human potential starts with trust

    Source: Microsoft

    Headline: Microsoft Trustworthy AI: Unlocking human potential starts with trust

    YouTube Video

    As AI advances, we all have a role to play to unlock AI’s positive impact for organizations and communities around the world. That’s why we’re focused on helping customers use and build AI that is trustworthy, meaning AI that is secure, safe and private.

    At Microsoft, we have commitments to ensure Trustworthy AI and are building industry-leading supporting technology. Our commitments and capabilities go hand in hand to make sure our customers and developers are protected at every layer.

    Building on our commitments, today we are announcing new product capabilities to strengthen the security, safety and privacy of AI systems.

    Security. Security is our top priority at Microsoft, and our expanded Secure Future Initiative (SFI) underscores the company-wide commitments and the responsibility we feel to make our customers more secure. This week we announced our first SFI Progress Report, highlighting updates spanning culture, governance, technology and operations. This delivers on our pledge to prioritize security above all else and is guided by three principles: secure by design, secure by default and secure operations. In addition to our first party offerings, Microsoft Defender and Purview, our AI services come with foundational security controls, such as built-in functions to help prevent prompt injections and copyright violations. Building on those, today we’re announcing two new capabilities:

    • Evaluations in Azure AI Studio to support proactive risk assessments.
    • Microsoft 365 Copilot will provide transparency into web queries to help admins and users better understand how web search enhances the Copilot response. Coming soon.

    Our security capabilities are already being used by customers. Cummins, a 105-year-old company known for its engine manufacturing and development of clean energy technologies, turned to Microsoft Purview to strengthen their data security and governance by automating the classification, tagging and labeling of data. EPAM Systems, a software engineering and business consulting company, deployed Microsoft 365 Copilot for 300 users because of the data protection they get from Microsoft. J.T. Sodano, Senior Director of IT, shared that “we were a lot more confident with Copilot for Microsoft 365, compared to other large language models (LLMs), because we know that the same information and data protection policies that we’ve configured in Microsoft Purview apply to Copilot.”

    Safety. Inclusive of both security and privacy, Microsoft’s broader Responsible AI principles, established in 2018, continue to guide how we build and deploy AI safely across the company. In practice this means properly building, testing and monitoring systems to avoid undesirable behaviors, such as harmful content, bias, misuse and other unintended risks. Over the years, we have made significant investments in building out the necessary governance structure, policies, tools and processes to uphold these principles and build and deploy AI safely. At Microsoft, we are committed to sharing our learnings on this journey of upholding our Responsible AI principles with our customers. We use our own best practices and learnings to provide people and organizations with capabilities and tools to build AI applications that share the same high standards we strive for.

    Today, we are sharing new capabilities to help customers pursue the benefits of AI while mitigating the risks:

    • A Correction capability in Microsoft Azure AI Content Safety’s Groundedness detection feature that helps fix hallucination issues in real time before users see them.
    • Embedded Content Safety, which allows customers to embed Azure AI Content Safety on devices. This is important for on-device scenarios where cloud connectivity might be intermittent or unavailable.
    • New evaluations in Azure AI Studio to help customers assess the quality and relevancy of outputs and how often their AI application outputs protected material.
    • Protected Material Detection for Code is now in preview in Azure AI Content Safety to help detect pre-existing content and code. This feature helps developers explore public source code in GitHub repositories, fostering collaboration and transparency, while enabling more informed coding decisions.

    It’s amazing to see how customers across industries are already using Microsoft solutions to build more secure and trustworthy AI applications. For example, Unity, a platform for 3D games, used Microsoft Azure OpenAI Service to build Muse Chat, an AI assistant that makes game development easier. Muse Chat uses content-filtering models in Azure AI Content Safety to ensure responsible use of the software. Additionally, ASOS, a UK-based fashion retailer with nearly 900 brand partners, used the same built-in content filters in Azure AI Content Safety to support top-quality interactions through an AI app that helps customers find new looks.

    We’re seeing the impact in the education space too. New York City Public Schools partnered with Microsoft to develop a chat system that is safe and appropriate for the education context, which they are now piloting in schools. The South Australia Department for Education similarly brought generative AI into the classroom with EdChat, relying on the same infrastructure to ensure safe use for students and teachers.

    Privacy. Data is at the foundation of AI, and Microsoft’s priority is to help ensure customer data is protected and compliant through our long-standing privacy principles, which include user control, transparency and legal and regulatory protections. To build on this, today we’re announcing:

    • Confidential inferencing in preview in our Azure OpenAI Service Whisper model, so customers can develop generative AI applications that support verifiable end-to-end privacy. Confidential inferencing ensures that sensitive customer data remains secure and private during the inferencing process, which is when a trained AI model makes predictions or decisions based on new data. This is especially important for highly regulated industries, such as health care, financial services, retail, manufacturing and energy.
    • The general availability of Azure Confidential VMs with NVIDIA H100 Tensor Core GPUs, which allow customers to secure data directly on the GPU. This builds on our confidential computing solutions, which ensure customer data stays encrypted and protected in a secure environment so that no one gains access to the information or system without permission.
    • Azure OpenAI Data Zones for the EU and U.S. are coming soon and build on the existing data residency provided by Azure OpenAI Service by making it easier to manage the data processing and storage of generative AI applications. This new functionality offers customers the flexibility of scaling generative AI applications across all Azure regions within a geography, while giving them the control of data processing and storage within the EU or U.S.

    We’ve seen increasing customer interest in confidential computing and excitement for confidential GPUs, including from application security provider F5, which is using Azure Confidential VMs with NVIDIA H100 Tensor Core GPUs to build advanced AI-powered security solutions, while ensuring confidentiality of the data its models are analyzing. And multinational banking corporation Royal Bank of Canada (RBC) has integrated Azure confidential computing into their own platform to analyze encrypted data while preserving customer privacy. With the general availability of Azure Confidential VMs with NVIDIA H100 Tensor Core GPUs, RBC can now use these advanced AI tools to work more efficiently and develop more powerful AI models.

    Achieve more with Trustworthy AI 

    We all need and expect AI we can trust. We’ve seen what’s possible when people are empowered to use AI in a trusted way, from enriching employee experiences and reshaping business processes to reinventing customer engagement and reimagining our everyday lives. With new capabilities that improve security, safety and privacy, we continue to enable customers to use and build trustworthy AI solutions that help every person and organization on the planet achieve more. Ultimately, Trustworthy AI encompasses all that we do at Microsoft and it’s essential to our mission as we work to expand opportunity, earn trust, protect fundamental rights and advance sustainability across everything we do.

    Related:

    Commitments

    Capabilities

    Tags: AI, Azure AI Content Safety, Azure AI Studio, Azure Confidential Computing, Azure OpenAI Service, Copilot, GitHub, Microsoft 365, Microsoft Defender, Microsoft Purview, Microsoft Trust Center, Responsible AI, Secure Future Initiative, Trustworthy AI

    MIL OSI Economics –

    September 29, 2024
  • MIL-OSI Banking: OEUK news OEUK: GB Energy must build on Aberdeen’s industrial 24 September 2024

    Source: Offshore Energy UK

    Headline: OEUK news

    OEUK: GB Energy must build on Aberdeen’s industrial

    24 September 2024

    Offshore Energies UK, the leading trade body welcomes the announcement that GB Energy will be located in Aberdeen. The city has been Europe’s energy capital for the last fifty years and with the right energy policies in place to back firms and their workers, it can continue to spearhead the UK’s homegrown energy transition. 

    OEUK says listening to industry’s experts and building partnerships will be key to determining GB Energy’s success. The UK’s transition to cleaner energy is not only the biggest engineering project the UK has seen since the Second World War. It is also the biggest financial undertaking.

    The government’s Office for Budgetary Responsibility (OBR) says net zero will cost the UK £1.4 trillion, and that the lion’s share must come from business.  

    The new government now needs partnerships with industry to put plans into action, unlock investment and kickstart economic growth.  

    While welcoming the announcement, OEUK reinforced its continued concerns over plans by the UK government to increase and extend the Energy Profits Levy.

    OEUK and its members work closely with policymakers of all parties to champion the UK’s energy security and low carbon future.

    David Whitehouse, CEO Offshore Energies UK comments: 

    “Aberdeen is an energy powerhouse and home to brilliant British engineering. It must and should be part of the UK’s energy future. The people of this city are rightly proud of their energy heritage and it’s imperative GB Energy helps to safeguard their jobs and build on their world class expertise to benefit the whole UK.  

    “Where GB Energy is located is important but what really matters is what is does. Success will be built on partnerships with industry unlocking the private sector investment needed to achieve the homegrown energy transition and economic growth we all want. This means listening to expert people across our sector, backing our supply chains and safeguarding the jobs of thousands of skilled workers across the UK.  

    “But I remain concerned the new government’s tax changes will have profound consequences for this sector and its people. The new government committed to safeguarding jobs in its manifesto and must listen to those working in the sector. Today’s announcement is welcomed, but it will do little to alleviate the very real concerns of the impact the government’s tax proposals will have on thousands of jobs and billions of pounds in future economic value.

    “I am asking the government to choose a homegrown energy transition that makes the most of our people and businesses. The alternative is importing ever more energy, skills and infrastructure and subtracting value from our economy.” 

    Ends.

    OEUK is campaigning for a homegrown energy transition that makes the most of the UK’s people and industrial strengths to be a secure, sustainable and skilled future. Download a copy of OEUK’s industry manifesto here.


    Share this article

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI USA: Governor Lamont Welcomes Numisma Bank to Connecticut as Fintech Company Opens World Headquarters in Greenwich

    Source: US State of Connecticut

    (HARTFORD, CT) – Governor Ned Lamont and Connecticut Banking Commissioner Jorge Perez today are welcoming Numisma Bank, a fintech global currency distributor, to Connecticut as the company is celebrating the grand opening of its world headquarters in Greenwich.

    Numisma Bank received its innovation bank charter from the Connecticut Department of Banking earlier this year. The charter provides customized regulatory solutions to financial technology companies looking to grow in a competitive marketplace. It is ideal for companies with diverse business models that are engaged in a variety of financial activities and seek to integrate a banking function but whose business plan does not include taking retail deposits from individuals. The charter provides a responsible, streamlined, and flexible regulatory approach allowing companies to operate across the U.S. It also provides a beneficial exemption to money services laws in many other states, reducing regulatory burden.

    Numisma Bank is the first Connecticut state-chartered innovation bank to receive a Fed master account, which grants them access to the Federal Reserve System.

    “Fintech innovators realize that Connecticut offers a competitive landscape for their companies to grow and thrive in our state,” Governor Lamont said. “I am excited to welcome Numisma Bank to Connecticut’s business community. This launch represents another step forward for Connecticut as a leader in financial services, showcasing the state’s ability to foster a supportive business environment that attracts cutting-edge companies like Numisma Bank.”

    “I would like to welcome our newest Connecticut state-chartered bank,” Commissioner Perez said. “Connecticut’s innovations bank charter provides the necessary regulatory framework and guardrails while allowing the flexibility for companies to innovate in the fintech space. We wish Numisma success in its new home.”

    “I’d like to thank Governor Lamont and Banking Commissioner Jorge Perez for their support,” Vivek Tyagi, CEO and co-founder of Numisma Bank, said. “The decision to charter the bank in Connecticut was influenced by the state’s business-friendly climate and access to a deep talent pool. The Connecticut Department of Banking has been a key partner in supporting Numisma Bank’s vision. We share its commitment to providing essential services in the global banking industry and are happy the department remains dedicated to offering comprehensive regulatory oversight while fostering an environment where innovative financial services can thrive.”

    “The Connecticut Innovation Bank Charter and our direct access to the Federal Reserve System reflect the trust placed in Connecticut’s regulatory system and authority and in us,” Matthew Hurlock, chief administrative officer and co-founder of Numisma Bank, said. “We are committed to upholding that trust through rigorous compliance and operational excellence.”

    “Numisma Bank’s choice to establish its global operations in Connecticut is further proof of our state’s exceptional value proposition for financial technology innovators,” Daniel O’Keefe, commissioner of the Connecticut Department of Economic and Community Development, said. “We possess a winning combination of skilled workforce, a supportive business environment, and an innovative culture that attracts market disruptors, leading to new job opportunities and economic growth.”

    “I am happy to welcome Numisma Bank as part of Greenwich’s thriving business community,” First Selectman Fred Camillo said. “Greenwich, along with the rest of southwestern Connecticut, is fast becoming a hub for financial innovation and we look forward to having Numisma as a partner in our community. We stand ready to assist companies looking to make Greenwich their home.”

    Numisma Bank focuses exclusively on the distribution of U.S. dollar and foreign currency banknotes, a critical service that ensures the flow of physical currency for central banks and international financial institutions. In recent years, many traditional U.S. banks have exited this complex, low-margin business due to increased regulatory demands as well as an overall decline in cash usage. Numisma is positioned to fill this gap by providing essential services to both the Federal Reserve and global monetary systems, ensuring resilience in these key markets. Numisma Bank is the only U.S. bank dedicated exclusively to this niche service.

    The company’s cutting-edge, fully cloud-based financial infrastructure is designed to support the purchase and sale of physical banknotes on an international scale. With no retail customers or involvement in loans or investments, Numisma Bank focuses solely on delivering efficient and secure transactions for central banks and financial institutions globally.

    Numisma Bank’s leadership team includes former senior executives from top global financial institutions such as Goldman Sachs, Morgan Stanley, and White & Case.

     

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI USA: Capito, Colleagues Introduce Substantive Legislation to Compete with China

    US Senate News:

    Source: United States Senator for West Virginia Shelley Moore Capito
    WASHINGTON, D.C. – Last week, U.S. Senator Shelley Moore Capito (R-W.Va.) joined a group of nine Senate Republican colleagues—led by U.S. Senator Jim Risch (R-Idaho), ranking member of the Senate Foreign Relations Committee— to introduce the STRATEGIC Act 2024, legislation to set up the United States and its allies and partners for success in the strategic competition against China.
    “We know that China is intent on challenging the U.S. in everything from military strength to economic power, trade relations, and global influence. Competing with the CCP’s influence operations and standing up to their coercive tactics should be a priority across the federal government. The STRATEGIC Act charts a course for a comprehensive approach to competition with China and shows that Senate Republicans are ready to confront China’s malign actions from a position of strength,” Senator Capito said.
    The STRATEGIC Act:
    Addresses predatory Chinese economic practices through a new initiative to counter economic coercion, prohibition of World Bank contracts for Chinese companies, and anti-trust reform. It also expands the Committee on Foreign Investments in the United States to cover agricultural investments with national security risks.
    Counters malign Chinese Communist Party influence by enhancing think tank transparency, prohibiting certain gifts and contracts with strings attached to U.S. universities, improving research security, and exposing China’s harassment and abuse of U.S. diplomats.
    Strengthens U.S. support for Taiwan and partner countries facing threats from China, and establishes a U.S. State/Treasury Department “Tiger Team” to start identifying targets for sanctions, export controls, other economic measures well before China takes military action.
    Increases oversight of U.S. government funding for biological research with China.
    Strengthens international security by countering proliferation of Chinese drones in the Middle East and modifying the Missile Technology Control Regime to increase cooperation with key allies like the United Kingdom and Australia.
    Protects U.S. interests in international organizations and support for human rights.
    Reforms the Foreign Agents Registration Act by removing commercial and Lobbying and Disclosure Act exemptions for foreign adversaries and giving the Department of Justice authorities to issue civil investigative demands.
    Authorizes strategic infrastructure initiatives focused on digital, transport, and energy sectors, strengthens supply chain security, and lowers trade barriers in partner countries.
    In addition to Senators Capito and Risch, this bill was also introduced by U.S. Senators Pete Ricketts (R-Neb.), Todd Young (R-Ind.), John Barrasso (R-Wyo.), Mike Crapo (R-Idaho), Bill Cassidy (R-La.), Dan Sullivan (R-Alaska), Mitt Romney (R-Utah), John Cornyn (R-Texas), and Chuck Grassley (R-Iowa).
    A one-pager of the bill can be found here.
    Full text of the bill can be found here.

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI Africa: Secretary-General’s remarks at the Opening of the General Debate of the Seventy-ninth Session of the General Assembly [trilingual, as delivered, scroll down for all-English and all-French]

    Source: United Nations – English

    r. President of the General Assembly,

    Excellencies,

    Ladies and gentlemen,

    Our world is in a whirlwind.

    We are in an era of epic transformation – facing challenges unlike any we have ever seen – challenges that demand global solutions.

    Yet geo-political divisions keep deepening. The planet keeps heating.

    Wars rage with no clue how they will end.

    And nuclear posturing and new weapons cast a dark shadow.

    We are edging towards the unimaginable – a powder keg that risks engulfing the world.

    Meanwhile, 2024 is the year that half of humanity goes to the polls – and all of humanity will be affected.

    I stand before you in this whirlwind convinced of two overriding truths.

    First, the state of our world is unsustainable.

    We can’t go on like this.

    And second, the challenges we face are solvable.

    But that requires us to make sure the mechanisms of international problem-solving actually solve problems.

    The Summit of the Future was a first step, but we have a long way to go.

    Getting there requires confronting three major drivers of unsustainability.

    A world of impunity – where violations and abuses threaten the very foundation of international law and the UN Charter.

    A world of inequality – where injustices and grievances threaten to undermine countries or even push them over the edge.

    And a world of uncertainty – where unmanaged global risks threaten our future in unknowable ways.

    These worlds of impunity, inequality and uncertainty are connected and colliding.

    Excellencies,

    The level of impunity in the world is politically indefensible and morally intolerable.

    Today, a growing number of governments and others feel entitled to a “get out of jail free” card.

    They can trample international law.

    They can violate the United Nations Charter.

    They can turn a blind eye to international human rights conventions or the decisions of international courts.

    They can thumb their nose at international humanitarian law.

    They can invade another country, lay waste to whole societies, or utterly disregard the welfare of their own people.

    And nothing will happen.

    We see this age of impunity everywhere — in the Middle East, in the heart of Europe, in the Horn of Africa, and beyond.

    The war in Ukraine is spreading with no signs of letting up.

    Civilians are paying the price – in rising death tolls and shattered lives and communities.

    It is time for a just peace based on the UN Charter, on international law and on UN resolutions.

    Meanwhile, Gaza is a non-stop nightmare that threatens to take the entire region with it.

    Look no further than Lebanon.

    We should all be alarmed by the escalation. 

    Lebanon is at the brink. 

    The people of Lebanon – the people of Israel – and the people of the world — cannot afford Lebanon to become another Gaza.

    Let’s be clear.

    Nothing can justify the abhorrent acts of terror committed by Hamas on October 7th, or the taking of hostages – both of which I have repeatedly condemned.

    And nothing can justify the collective punishment of the Palestinian people.

    The speed and scale of the killing and destruction in Gaza are unlike anything in my years as Secretary-General.

    More than 200 of our own staff have been killed, many with their families.

    And yet the women and men of the United Nations continue to deliver humanitarian aid.

    I know you join me in paying a special tribute to UNRWA and to all humanitarians in Gaza.

    The international community must mobilize for an immediate ceasefire, the immediate and unconditional release of all hostages, and the beginning of an irreversible process towards a two-State solution.

    For those who go on undermining that goal with more settlements, more landgrabs, more incitement — I ask:

    What is the alternative?

    How could the world accept a one-state future in which a large a large number of Palestinians would be included without any freedom, rights or dignity?

    In Sudan, a brutal power struggle has unleashed horrific violence — including widespread rape and sexual assaults.

    A humanitarian catastrophe is unfolding as famine spreads.  Yet outside powers continue to interfere with no unified approach to finding peace.

    In the Sahel, the dramatic and rapid expansion of the terrorist threat requires a joint approach rooted in solidarity – but regional and international cooperation have broken down.

    From Myanmar to the Democratic Republic of the Congo to Haiti to Yemen and beyond – we continue to see appalling levels of violence and human suffering in the face of a chronic failure to find solutions.

    Meanwhile our peacekeeping missions are too often operating in areas where simply there is no peace to keep.

    Instability in many places around the world is a by-product of instability in power relations and geo-political divides.

    For all its perils, the Cold War had rules.

    There were hot lines, red lines and guard rails.

    It can feel as though we don’t have that today.

    Nor do we have a unipolar world.

    We are moving to a multipolar world, but we are not there yet.

    We are in a purgatory of polarity.

    And in this purgatory, more and more countries are filling the spaces of geopolitical divides, doing whatever they want with no accountability.

    That is why it is more important than ever to reaffirm the Charter, to respect international law, to support and implement decisions of international courts, and to reinforce human rights in the world.

    Anywhere and everywhere.

    Excellences, Mesdames et Messieurs,
     
    L’augmentation des inégalités est un deuxième facteur de l’insoutenabilité et une tache sur notre conscience collective.
     
    L’inégalité n’est pas une question technique ou bureaucratique.
     
    Au fond, l’inégalité est une question de pouvoir, aux racines historiques.
     
    Les conflits, les bouleversements climatiques et la crise du coût de la vie étendent ces racines historiques plus profondément encore.
     
    Dans le même temps, le monde peine encore à se relever de la flambée des inégalités engendrée par la pandémie.
     
    Si l’on regarde les 75 pays les plus pauvres du monde, un tiers d’entre eux se trouve aujourd’hui dans une situation pire qu’il y a cinq ans.
     
    Au cours de la même période, les cinq hommes les plus riches de la planète ont plus que doublé leurs fortunes.
     
    Et un pour cent des habitants de la planète détient 43 % de l’ensemble des avoirs financiers mondiaux.
     
    Au niveau national, certains gouvernements décuplent les inégalités en accordant des cadeaux fiscaux massifs aux entreprises et aux ultra-riches — au détriment des investissements dans la santé, l’éducation et la protection sociale.
     
    Et personne n’est plus lésé que les femmes et les filles du monde entier.
     
    Excellences,
     
    La discrimination et les abus généralisés fondés sur le genre constituent l’inégalité la plus répandue dans toutes les sociétés.
     
    Chaque jour, il semble que nous soyons confrontés à de nouveaux cas révoltants de féminicides, de violences fondées sur le genre et de viols collectifs – en temps de paix comme en tant qu’arme de guerre.
     
    Dans certains pays, les lois sont utilisées pour menacer la santé et les droits reproductifs.
     
    Et en Afghanistan, les lois sont utilisées pour entériner l’oppression systématique des femmes et des filles.
     
    Et je suis désolé de constater que, malgré des années de beaux discours, l’inégalité de genre se manifesteet je vous demande pardon de le dire, elle se manifeste aujourd’hui encore, pleinement dans cette enceinte.
     
    Moins de 10 pour cent des intervenants au Débat général de cette semaine sont des femmes.
     
    C’est inacceptable, surtout quand on sait que l’égalité entre les femmes et les hommes contribue à la paix, au développement durable, à l’action climatique et bien plus encore.
     
    C’est précisément pour cela nous avons pris des mesures spécifiques pour atteindre la parité hommes-femmes parmi les hauts responsables de l’Organisation des Nations Unies,objectif qui est déjà complété.
     
    C’est faisable.
     
    J’exhorte les institutions politiques et économiques du monde dominées par les hommes à le faire aussi.
     
    Excellences,
     
    Les inégalités mondiales se reflètent et se renforcent jusque dans nos propres organisations internationales.
     
    Le Conseil de sécurité des Nations Unies a été conçu par les vainqueurs de la Seconde Guerre mondiale.
     
    À l’époque, la majeure partie du continent africain était encore sous domination coloniale.
     
    À ce jour, l’Afrique n’a toujours aucun siège permanent au sein de la principale instance de paix du monde.
     
    Un changement s’impose.
     
    Il en va de même pour l’architecture financière mondiale, mise en place il y a 80 ans.
     
    Je félicite les dirigeants de la Banque mondiale et du Fonds monétaire international pour les mesures importantes qu’ils ont entreprises.
     
    Mais comme le souligne le Pacte pour l’avenir, la lutte contre les inégalités exige une accélération de la réforme de l’architecture financière internationale.
     
    Au cours des huit dernières décennies, l’économie mondiale s’est développée et transformée.
     
    Les institutions de Bretton Woods n’ont pas suivi le rythme.
     
    Elles ne sont plus en mesure de fournir un filet de sécurité mondial, ni d’offrir aux pays en développement le niveau de soutien dont ils ont tant besoin.
     
    Dans les pays les plus pauvres du monde, le coût des intérêts de la dette dépasse, en moyenne, le coût des investissements dans l’éducation, la santé et les infrastructures publiques réunis.
     
    Et à l’échelle du monde, plus de 80 % des cibles des Objectifs de développement durable ne sont pas en bonne voie.

    Excelencias,

    Volver al camino correcto requiere un aumento de financiamiento para la Agenda 2030 y el Acuerdo de París.

    Esto implica que los países del G20 lideren un Estímulo para los Objetivos de Desarrollo Sostenible de 500.000 millones de dólares al año.

    Implica reformas para aumentar sustancialmente la capacidad de préstamo de los Bancos Multilaterales de Desarrollo – y permitirles ampliar masivamente la financiación asequible a largo plazo para el clima y el desarrollo.

    Implica ampliar la financiación de contingencia mediante el reciclaje de los Derechos Especiales de Giro.

    E implica promover una reestructuración de la deuda a largo plazo.

    Excelencias,

    No me hago ilusiones sobre las barreras a la reforma del sistema multilateral.

    Los que tienen poder político y económico, o y los que creen tenerlo, son siempre reacios al cambio.

    Pero el status quo ya está agotando su poder.

    Sin reformas, la fragmentación es inevitable, y las instituciones globales perderán legitimidad, credibilidad y eficacia.

    Excellencies,

    The third driver of our unsustainable world is uncertainty.

    The ground is shifting under our feet.

    Anxiety levels are off the charts.

    And young people, in particular, are counting on us and seeking solutions.

    Uncertainty is compounded by two existential threats – the climate crisis and the rapid advance of technology — in particular, Artificial Intelligence.

    Excellencies,

    We are in a climate meltdown.

    Extreme temperatures, raging fires, droughts, and epic floods are not natural disasters.

    They are human disasters — increasingly fueled by fossil fuels.

    No country is spared. But the poorest and most vulnerable are hardest hit.

    Climate hazards are blowing a hole through the budgets of many African countries, costing up to five per cent of GDP – every year.

    And this is just the start.

    We are on course to careen past the global limit of a 1.5 degree temperature rise.

    But as the problem gets worse, solutions are getting better.

    Renewable prices are plummeting, roll-out is accelerating, and lives are being transformed by affordable, accessible clean energy.

    Renewables don’t just generate power. They generate jobs, wealth, energy security and a path out of poverty for millions.

    But developing countries cannot be plundered in that journey.

    Our Panel on Critical Minerals has recommended fair and sustainable ways to meet global demand for these resources, which are essential to the renewables revolution.

    Excellencies,

    A future without fossil fuels is certain.  A fair and fast transition is not.

    That is in your hands.

    By next year, every country must produce an ambitious new national climate action plan – or Nationally Determined Contributions.

    These must bring national energy strategies, sustainable development priorities, and climate ambitions together.

    They must align with the 1.5 degree limit, cover the whole economy, and contribute to every one of the COP28 energy transition targets.

    An International Energy Agency report released today breaks this down.

    By 2035, on average, advanced economies must slash energy emissions 80 per cent, and emerging markets 65 per cent.

    The G20 is responsible for 80 per cent of total emissions.

    They must lead the charge – keeping with the principle of common but differentiated responsibilities and respective capabilities in the light of different national circumstances.

    But this must be a joint effort — pooling resources, scientific capacities and proven and affordable technologies for all to be able to reach those targets.

    I’m honoured to be working closely with President Lula of Brazil – who is both G20 Chair and COP30 host – to secure maximum ambition, acceleration and cooperation. We just met for that purpose.

    Finance is essential.

    COP29 is around the corner.

    It must deliver a significant new finance goal.

    We also need a Loss and Damage Fund that meets the scale of the challenge – and developed countries meeting their adaptation finance promises.

    And we must finally flip the script on a crazy situation:

    We continue to reward polluters to wreck our planet.

    The fossil fuel industry continues to pocket massive profits and subsidies, while everyday people bear the costs of climate catastrophe – from rising insurance premiums to lost livelihoods.

    I call on G20 countries to shift money from fossil fuel subsidies and investments to a just energy transition;

    To put an effective price on carbon;

    And to implement new and innovative sources of financing – including solidarity levies on fossil fuel extraction – through legally-binding, transparent mechanisms.

    All by next year and this taking into account that those who shoulder the blame must foot the bill.

    Polluters must pay.

    Excellencies,

    The rapid rise of new technologies poses another unpredictable existential risk.

    Artificial Intelligence will change virtually everything we know — from work, education and communication, to culture and politics.

    We know AI is rapidly advancing, but where is it taking us:

    To more freedom – or more conflict?

    To a more sustainable world – or greater inequality?

    To being better informed – or easier to manipulate?

    A handful of companies and even individuals have already amassed enormous power over the development of AI – with little accountability or oversight for the moment.

    Without a global approach to its management, artificial intelligence could lead to artificial divisions across the board – a Great Fracture with two internets, two markets, two economies – with every country forced to pick a side, and enormous consequences for all.

    The United Nations is the universal platform for dialogue and consensus.

    It is uniquely placed to promote cooperation on AI – based on the values of the Charter and international law.

    The global debate happens here, or it does not happen.

    I welcome important first steps.

    Two resolutions in the General Assembly, the Global Digital Compact, and the recommendations of the High-Level Body on AI can lay the foundations for inclusive governance of AI.

    Let’s move forward together to make AI a force for good.

    Excellencies,

    Nothing lasts forever.

    But a feature of human life is that it appears otherwise.

    The current order always feels fixed.

    Until it is not.
     
    Across human history, we see empires rising and falling; old certainties crumbling; tectonic shifts in global affairs.
     
    Today our course is unsustainable.

    It is in all our interests to manage the epic transformations underway; to choose the future we want and to guide our world towards it.

    Many have said that the differences and divisions today are just too great.

    That it is impossible for us to come together for the common good.

    You proved that is not true.

    The Summit of the Future showed that with a spirit of dialogue and compromise, we can join forces to steer our world to a more sustainable path.

    It is not the end.

    It is a start of a journey, a compass in the whirlwind.

    Let’s keep going.

    Let’s move our world towards less impunity and more accountability …. less inequality and more justice … less uncertainty and more opportunity.

    The people of the world are looking to us – and succeeding generations will look back on us.

    Let them find us on the side of the United Nations Charter … on the side of our shared values and principles … and on the right side of history.

    I thank you.

    ***
    [all-English]

    Mr. President of the General Assembly,
     
    Excellencies,
     
    Ladies and gentlemen,
     
    Our world is in a whirlwind.
     
    We are in an era of epic transformation – facing challenges unlike any we have ever seen – challenges that demand global solutions.
     
    Yet geo-political divisions keep deepening. The planet keeps heating.

    Wars rage with no clue how they will end.
     
    And nuclear posturing and new weapons cast a dark shadow.
     
    We are edging towards the unimaginable – a powder keg that risks engulfing the world.
     
    Meanwhile, 2024 is the year that half of humanity goes to the polls – and all of humanity will be affected.
     
    I stand before you in this whirlwind convinced of two overriding truths.
     
    First, the state of our world is unsustainable.
     
    We can’t go on like this.
     
    And second, the challenges we face are solvable.
     
    But that requires us to make sure the mechanisms of international problem-solving actually solve problems.
     
    The Summit of the Future was a first step, but we have a long way to go.
     
    Getting there requires confronting three major drivers of unsustainability.
     
    A world of impunity – where violations and abuses threaten the very foundation of international law and the UN Charter.
     
    A world of inequality – where injustices and grievances threaten to undermine countries or even push them over the edge.
     
    And a world of uncertainty – where unmanaged global risks threaten our future in unknowable ways.
     
    These worlds of impunity, inequality and uncertainty are connected and colliding.
     
    Excellencies,
     
    The level of impunity in the world is politically indefensible and morally intolerable.
     
    Today, a growing number of governments and others feel entitled to a “get out of jail free” card.
     
    They can trample international law.
     
    They can violate the United Nations Charter.
     
    They can turn a blind eye to international human rights conventions or the decisions of international courts.
     
    They can thumb their nose at international humanitarian law.
     
    They can invade another country, lay waste to whole societies, or utterly disregard the welfare of their own people.
     
    And nothing will happen.
     
    We see this age of impunity everywhere — in the Middle East, in the heart of Europe, in the Horn of Africa, and beyond.
     
    The war in Ukraine is spreading with no signs of letting up.
     
    Civilians are paying the price – in rising death tolls and shattered lives and communities.
     
    It is time for a just peace based on the UN Charter, on international law and on UN resolutions.
     
    Meanwhile, Gaza is a non-stop nightmare that threatens to take the entire region with it.
     
    Look no further than Lebanon.
     
    We should all be alarmed by the escalation. 
     
    Lebanon is at the brink. 
     
    The people of Lebanon – the people of Israel – and the people of the world — cannot afford Lebanon to become another Gaza.
     
    Let’s be clear.
     
    Nothing can justify the abhorrent acts of terror committed by Hamas on October 7th, or the taking of hostages – both of which I have repeatedly condemned.
     
    And nothing can justify the collective punishment of the Palestinian people.
     
    The speed and scale of the killing and destruction in Gaza are unlike anything in my years as Secretary-General.
     
    More than 200 of our own staff have been killed, many with their families.
     
    And yet the women and men of the United Nations continue to deliver humanitarian aid.
     
    I know you join me in paying a special tribute to UNRWA and to all humanitarians in Gaza.
     
    The international community must mobilize for an immediate ceasefire, the immediate and unconditional release of all hostages, and the beginning of an irreversible process towards a two-State solution.
     
    For those who go on undermining that goal with more settlements, more landgrabs, more incitement — I ask:
     
    What is the alternative?
     
    How could the world accept a one-state future in which a large a large number of Palestinians would be included without any freedom, rights or dignity?
     
    In Sudan, a brutal power struggle has unleashed horrific violence — including widespread rape and sexual assaults.
     
    A humanitarian catastrophe is unfolding as famine spreads.  Yet outside powers continue to interfere with no unified approach to finding peace.
     
    In the Sahel, the dramatic and rapid expansion of the terrorist threat requires a joint approach rooted in solidarity – but regional and international cooperation have broken down.
     
    From Myanmar to the Democratic Republic of the Congo to Haiti to Yemen and beyond – we continue to see appalling levels of violence and human suffering in the face of a chronic failure to find solutions.
     
    Meanwhile our peacekeeping missions are too often operating in areas where simply there is no peace to keep.
     
    Instability in many places around the world is a by-product of instability in power relations and geo-political divides.
     
    For all its perils, the Cold War had rules.
     
    There were hot lines, red lines and guard rails.
     
    It can feel as though we don’t have that today.
     
    Nor do we have a unipolar world.
     
    We are moving to a multipolar world, but we are not there yet.
     
    We are in a purgatory of polarity.
     
    And in this purgatory, more and more countries are filling the spaces of geopolitical divides, doing whatever they want with no accountability.
     
    That is why it is more important than ever to reaffirm the Charter, to respect international law, to support and implement decisions of international courts, and to reinforce human rights in the world.
     
    Anywhere and everywhere.

    Excellencies, Ladies and Gentlemen,

    Rising inequalities are a second driver of unsustainability and a stain on our collective conscience. 

    Inequality is not a technical or bureaucratic issue. 

    At its heart, inequality is a question of power with historic roots.

    Conflict, climate upheaval and the cost-of-living crisis, are pushing those roots deeper. 

    At the same time, the world has not recovered from the surge in inequalities caused by the pandemic.

    Of the world’s poorest 75 countries, one-third are worse off today than they were five years ago.

    During that same period, the five richest men in the world have more than doubled their wealth.
     
    And the top one per cent of people on earth own 43 per cent of all global financial assets.

    At the national level, some governments are supercharging inequalities by doling out massive tax giveaways to corporations and the ultra-rich, while shortchanging investments in health, education and social protection.

    No one is being short-changed more than the world’s women and girls. 

    Excellencies, 
     
    Rampant gender-based discrimination and abuse are the most prevalent inequality across all societies. 
     
    Every day, it seems we are confronted by yet more sickening cases of femicide, gender-based violence and mass rape, both in peacetime and as a weapon of war. 
     
    In some countries, laws are being used to threaten reproductive health and rights. 

    And in Afghanistan, laws are being used to lock-in the systematic oppression of women and girls. 
     
    And I am sorry to observe that despite years of talk, gender inequality is on full display, and I am sorry for mentioning it here, gender inequality is on full display in this very Hall. 

    Less than 10 per cent of speakers during this week’s General Debate are women. 
     
    This is unacceptable – especially when we know gender equality delivers for peace, sustainable development, climate action and much more. 

    That is precisely why we took targeted measures to achieve gender parity among the United Nations senior leadership, an objective that has already been achieved.

    It’s doable. 

    I call on male-dominated political and economic establishments around the world to do it as well.
     
    Excellencies,

    Global inequalities are reflected and reinforced even in our own global institutions.

    The United Nations Security Council was designed by the victors of the Second World War. 

    Most of Africa was still under colonial domination. 

    To this day, Africa has no permanent seat on the world’s preeminent council of peace. 

    This must change.

    So must the global financial architecture, set up 80 years ago. 

    I commend the leaders of the World Bank and the International Monetary Fund for taking important steps.

    But as the Pact for the Future emphasizes, tackling inequalities requires accelerating reform of the international financial architecture.

    Over the past eight decades, the global economy has grown and transformed.

    The Bretton Woods institutions have not kept pace.

    They can no longer provide a global safety net – or offer developing countries the level of support they need.

    Debt interest payments in the world’s poorest countries now cost more, on average, than investments in education, health and infrastructure combined.

    And around the world, more than 80 per cent of Sustainable Development Goal targets are off track. 

    Excellencies,

    Getting back on track requires a surge of financing for the 2030 Agenda and the Paris Agreement.

    That means G20 countries leading on an SDG Stimulus of $500 billion a year. 

    It means reforms to substantially increase the lending capacity of Multilateral Development Banks and enable them to massively scale-up affordable long-term climate and development finance.

    It means expanding contingency financing through recycling Special Drawing Rights.

    And it means promoting long-term debt-restructuring.

    Excellencies,

    I have no illusions about the obstacles to reform of the multilateral system.

    Those with political and economic power – and those who believe they have power – are always reluctant to change.

    But the status quo is already draining their power.

    Without reform, fragmentation is inevitable, and global institutions will become less legitimate, less credible, and less effective.
     
    Excellencies,
     
    The third driver of our unsustainable world is uncertainty.
     
    The ground is shifting under our feet.
     
    Anxiety levels are off the charts.
     
    And young people, in particular, are counting on us and seeking solutions.
     
    Uncertainty is compounded by two existential threats – the climate crisis and the rapid advance of technology — in particular, Artificial Intelligence.
     
    Excellencies,
     
    We are in a climate meltdown.
     
    Extreme temperatures, raging fires, droughts, and epic floods are not natural disasters.
     
    They are human disasters — increasingly fueled by fossil fuels.
     
    No country is spared. But the poorest and most vulnerable are hardest hit.
     
    Climate hazards are blowing a hole through the budgets of many African countries, costing up to five per cent of GDP – every year.
     
    And this is just the start.
     
    We are on course to careen past the global limit of a 1.5 degree temperature rise.
     
    But as the problem gets worse, solutions are getting better.
     
    Renewable prices are plummeting, roll-out is accelerating, and lives are being transformed by affordable, accessible clean energy.
     
    Renewables don’t just generate power. They generate jobs, wealth, energy security and a path out of poverty for millions.
     
    But developing countries cannot be plundered in that journey.
     
    Our Panel on Critical Minerals has recommended fair and sustainable ways to meet global demand for these resources, which are essential to the renewables revolution.
     
    Excellencies,
     
    A future without fossil fuels is certain.  A fair and fast transition is not.
     
    That is in your hands.
     
    By next year, every country must produce an ambitious new national climate action plan – or Nationally Determined Contributions.
     
    These must bring national energy strategies, sustainable development priorities, and climate ambitions together.
     
    They must align with the 1.5 degree limit, cover the whole economy, and contribute to every one of the COP28 energy transition targets.
     
    An International Energy Agency report released today breaks this down.
     
    By 2035, on average, advanced economies must slash energy emissions 80 per cent, and emerging markets 65 per cent.
     
    The G20 is responsible for 80 per cent of total emissions.
     
    They must lead the charge – keeping with the principle of common but differentiated responsibilities and respective capabilities in the light of different national circumstances.
     
    But this must be a joint effort — pooling resources, scientific capacities and proven and affordable technologies for all to be able to reach those targets.
     
    I’m honoured to be working closely with President Lula of Brazil – who is both G20 Chair and COP30 host – to secure maximum ambition, acceleration and cooperation. We just met for that purpose.
     
    Finance is essential.
     
    COP29 is around the corner.
     
    It must deliver a significant new finance goal.
     
    We also need a Loss and Damage Fund that meets the scale of the challenge – and developed countries meeting their adaptation finance promises.
     
    And we must finally flip the script on a crazy situation:
     
    We continue to reward polluters to wreck our planet.
     
    The fossil fuel industry continues to pocket massive profits and subsidies, while everyday people bear the costs of climate catastrophe – from rising insurance premiums to lost livelihoods.
     
    I call on G20 countries to shift money from fossil fuel subsidies and investments to a just energy transition;
     
    To put an effective price on carbon;
     
    And to implement new and innovative sources of financing – including solidarity levies on fossil fuel extraction – through legally-binding, transparent mechanisms.
     
    All by next year and this taking into account that those who shoulder the blame must foot the bill.
     
    Polluters must pay.
     
    Excellencies,
     
    The rapid rise of new technologies poses another unpredictable existential risk.
     
    Artificial Intelligence will change virtually everything we know — from work, education and communication, to culture and politics.
     
    We know AI is rapidly advancing, but where is it taking us:
     
    To more freedom – or more conflict?
     
    To a more sustainable world – or greater inequality?
     
    To being better informed – or easier to manipulate?
     
    A handful of companies and even individuals have already amassed enormous power over the development of AI – with little accountability or oversight for the moment.
     
    Without a global approach to its management, artificial intelligence could lead to artificial divisions across the board – a Great Fracture with two internets, two markets, two economies – with every country forced to pick a side, and enormous consequences for all.
     
    The United Nations is the universal platform for dialogue and consensus.
     
    It is uniquely placed to promote cooperation on AI – based on the values of the Charter and international law.
     
    The global debate happens here, or it does not happen.
     
    I welcome important first steps.
     
    Two resolutions in the General Assembly, the Global Digital Compact, and the recommendations of the High-Level Body on AI can lay the foundations for inclusive governance of AI.
     
    Let’s move forward together to make AI a force for good.
     
    Excellencies,
     
    Nothing lasts forever.
     
    But a feature of human life is that it appears otherwise.
     
    The current order always feels fixed.
     
    Until it is not.
     
    Across human history, we see empires rising and falling; old certainties crumbling; tectonic shifts in global affairs.
     
    Today our course is unsustainable.
     
    It is in all our interests to manage the epic transformations underway; to choose the future we want and to guide our world towards it.
     
    Many have said that the differences and divisions today are just too great.
     
    That it is impossible for us to come together for the common good.
     
    You proved that is not true.
     
    The Summit of the Future showed that with a spirit of dialogue and compromise, we can join forces to steer our world to a more sustainable path.
     
    It is not the end.
     
    It is a start of a journey, a compass in the whirlwind.
     
    Let’s keep going.
     
    Let’s move our world towards less impunity and more accountability …. less inequality and more justice … less uncertainty and more opportunity.
     
    The people of the world are looking to us – and succeeding generations will look back on us.
     
    Let them find us on the side of the United Nations Charter … on the side of our shared values and principles … and on the right side of history.
     
    I thank you.

    ***
    [all-French]

    Monsieur le Président,

    Excellences,

    Mesdames et Messieurs,

    Notre monde est pris dans un tourbillon.

    Nous vivons une ère de transformation aux proportions épiques et faisons face à des défis sans précédent qui exigent des solutions mondiales.

    Et pourtant, les divisions géopolitiques ne vont qu’en s’aggravant. La planète continue de se réchauffer.

    Les guerres font rage sans que l’on sache comment elles vont se terminer.

    Les gesticulations nucléaires et les nouvelles armes font planer sur nous une ombre inquiétante.

    Nous allons tout droit vers l’inimaginable : une poudrière qui risque d’engloutir le monde.

    En 2024, la moitié de l’humanité doit se rendre aux urnes – et c’est sur l’humanité tout entière que pèsera l’issue de ces scrutins.

    Je me tiens devant vous, face à ce tourbillon, convaincu de deux vérités primordiales.

    Tout d’abord, l’état dans lequel se trouve notre monde n’est pas viable.

    On ne peut pas continuer ainsi.

    Et deuxièmement, il est possible de relever les défis auxquels nous sommes confrontés.

    Mais pour cela, nous devons nous assurer que les mécanismes de règlement des problèmes internationaux permettent bel et bien de régler les problèmes.

    Le Sommet de l’avenir était un premier pas, mais le chemin à parcourir est encore long.

    Pour y parvenir, il faut s’attaquer à trois grands facteurs de l’insoutenabilité.

    Un monde d’impunité – dans lequel les violations et les atteintes menacent le fondement même du droit international et de la Charte des Nations Unies.

    Un monde d’inégalités – où les injustices et les griefs auxquelles elles donnent jour menacent d’affaiblir les pays, ou pire, de les précipiter dans le gouffre.

    Et un monde d’incertitude – où les risques mondiaux ne sont pas gérés, ce qui hypothèque notre avenir, bien au-delà de ce que l’on peut imaginer.

    Ces mondes d’impunité, d’inégalité et d’incertitude sont liés entre eux et se télescopent.

    Excellences,

    Le degré d’impunité dans le monde est indéfendable sur le plan politique et moralement intolérable.

    Aujourd’hui, un nombre croissant de gouvernements et d’autres acteurs se sentent autorisés à bénéficier, comme au Monopoly, d’une carte « Vous êtes libéré de prison ».

    Ils peuvent fouler aux pieds le droit international.

    Ils peuvent violer la Charte des Nations Unies.

    Ils peuvent ignorer les conventions internationales relatives aux droits humains ou les décisions des tribunaux internationaux.

    Ils peuvent bafouer le droit international humanitaire.

    Ils peuvent envahir un autre pays, dévaster des sociétés entières ou mépriser complètement le bien-être de leur propre peuple.

    Sans que rien ne se passe.

    Partout ‒ au Moyen-Orient, au cœur de l’Europe, dans la Corne de l’Afrique et au-delà ‒ c’est l’ère de l’impunité.

    La guerre en Ukraine s’étend et rien n’indique qu’elle va s’arrêter.

    Ce sont les populations civiles qui en paient le prix. À preuve, les morts de plus en plus nombreuses, les vies et les communautés brisées.

    Il est temps d’instaurer une paix juste, fondée sur la Charte des Nations Unies, le droit international et les résolutions des organes des Nations Unies.

    Pendant ce temps, Gaza vit un cauchemar permanent qui menace d’entraîner toute la région dans le chaos.

    À commencer par le Liban.

    Nous devrions tous être alarmés par cette escalade. 

    Le Liban est au bord du gouffre. 

    Le peuple libanais, le peuple israélien et les peuples du monde ne peuvent se permettre que le Liban devienne un autre Gaza.

    Soyons clairs.

    Rien ne peut justifier les actes de terreur abominables commis par le Hamas le 7 octobre, ni les prises d’otages, que j’ai condamnés à maintes reprises.

    Mais rien ne peut justifier d’infliger un châtiment collectif au peuple palestinien.

    La rapidité et l’ampleur du massacre et des destructions à Gaza ne ressemblent à rien d’autre de ce que j’ai connu depuis que je suis Secrétaire général.

    Plus de 200 membres du personnel des Nations Unies ont déjà été tués et, souvent, des membres de leurs familles ont aussi péri à leurs côtés.

    Et pourtant, les femmes et les hommes des Nations Unies continuent d’accomplir leur mission.

    Je sais que vous vous joignez à moi pour rendre un hommage appuyé à l’UNRWA et à tous les humanitaires à Gaza.

    La communauté internationale doit se mobiliser pour obtenir un cessez-le-feu immédiat, la libération immédiate et inconditionnelle des tous les otages et le lancement d’un processus irréversible pour qu’une solution des deux États voie le jour.

    J’aimerais poser une question à ceux qui continuent de saper cet objectif en multipliant les implantations, les expulsions, les provocations:
    Quelle est l’alternative ?

    Comment le monde pourrait-il accepter un État qui inclurait un grand nombre de Palestiniens et de Palestiniennes privés de liberté, de droits et de dignité ?

    Au Soudan, une lutte brutale pour le pouvoir a donné lieu à d’horribles violences, notamment des viols et des agressions sexuelles à grande échelle.

    Une catastrophe humanitaire est en train de se produire dans un pays en proie à une famine rampante. Pourtant, les puissances extérieures continuent de s’ingérer sans aucune approche unifiée pour trouver la paix.

    Au Sahel, l’expansion dramatique et rapide de la menace terroriste exige l’adoption d’une approche commune fondée sur la solidarité, mais la coopération régionale et internationale est en panne.

    Du Myanmar à la République démocratique du Congo, en passant par Haïti et le Yémen, les populations restent exposées à des violences et des souffrances effroyables, sur fond d’incapacité chronique à trouver des solutions.

    Pendant ce temps, nos missions de maintien de la paix opèrent trop souvent dans des lieux où il n’y a tout simplement pas de paix à maintenir.

    L’instabilité que l’on observe en de nombreux endroits du monde est la conséquence de l’instabilité des relations de pouvoir et des clivages géopolitiques.

    La Guerre Froide était pleine de dangers, mais elle avait aussi ses règles.

    Il y avait le téléphone rouge, des limites à ne pas franchir et des garde-fous.

    On a parfois l’impression que l’on n’a rien de tout cela aujourd’hui.

    Nous ne vivons pas non plus dans un monde unipolaire.

    Nous sommes en train de passer à un monde multipolaire, mais nous n’y sommes pas encore.

    Nous sommes en fait dans le purgatoire de la polarité.

    Et dans ce purgatoire, de plus en plus de pays occupent les espaces laissés vides par les divisions géopolitiques et font ce qu’ils veulent sans avoir à rendre de comptes.

    C’est pourquoi il est plus important que jamais de réaffirmer la Charte, d’appuyer et de respecter le droit international et de renforcer les droits humains à travers le monde.

    Partout et en tout lieu.

    Excellences, Mesdames et Messieurs,

    L’augmentation des inégalités est un deuxième facteur de l’insoutenabilité et une tache sur notre conscience collective. 

    L’inégalité n’est pas une question technique ou bureaucratique. 

    Au fond, l’inégalité est une question de pouvoir, aux racines historiques.

    Les conflits, les bouleversements climatiques et la crise du coût de la vie étendent ces racines historiques plus profondément encore. 

    Dans le même temps, le monde peine encore à se relever de la flambée des inégalités engendrée par la pandémie.

    Si l’on regarde les 75 pays les plus pauvres du monde, un tiers d’entre eux se trouve aujourd’hui dans une situation pire qu’il y a cinq ans.

    Au cours de la même période, les cinq hommes les plus riches de la planète ont plus que doublé leurs fortunes.

    Et un pour cent des habitants de la planète détient 43 % de l’ensemble des avoirs financiers mondiaux.

    Au niveau national, certains gouvernements décuplent les inégalités en accordant des cadeaux fiscaux massifs aux entreprises et aux ultra-riches — au détriment des investissements dans la santé, l’éducation et la protection sociale.

    Et personne n’est plus lésé que les femmes et les filles du monde entier.

    Excellences,

    La discrimination et les abus généralisés fondés sur le genre constituent l’inégalité la plus répandue dans toutes les sociétés.

    Chaque jour, il semble que nous soyons confrontés à de nouveaux cas révoltants de féminicides, de violences fondées sur le genre et de viols collectifs – en temps de paix comme en tant qu’arme de guerre.

    Dans certains pays, les lois sont utilisées pour menacer la santé et les droits reproductifs. 

    Et en Afghanistan, les lois sont utilisées pour entériner l’oppression systématique des femmes et des filles.

    Et je suis désolé de constater que, malgré des années de beaux discours, l’inégalité de genre se manifeste, et je vous demande pardon de le dire, elle se manifeste aujourd’hui encore, pleinement dans cette enceinte.

    Moins de 10 pour cent des intervenants au Débat général de cette semaine sont des femmes.
     
    C’est inacceptable, surtout quand on sait que l’égalité entre les femmes et les hommes contribue à la paix, au développement durable, à l’action climatique et bien plus encore.

    C’est précisément pour cela nous avons pris des mesures spécifiques pour atteindre la parité hommes-femmes parmi les hauts responsables de l’Organisation des Nations Unies, objectif qui est déjà complété.

    C’est faisable.

    J’exhorte les institutions politiques et économiques du monde dominées par les hommes à le faire aussi.
     
    Excellences,

    Les inégalités mondiales se reflètent et se renforcent jusque dans nos propres organisations internationales.

    Le Conseil de sécurité des Nations Unies a été conçu par les vainqueurs de la Seconde Guerre mondiale. 

    À l’époque, la majeure partie du continent africain était encore sous domination coloniale. 

    À ce jour, l’Afrique n’a toujours aucun siège permanent au sein de la principale instance de paix du monde. 

    Un changement s’impose.

    Il en va de même pour l’architecture financière mondiale, mise en place il y a 80 ans. 

    Je félicite les dirigeants de la Banque mondiale et du Fonds monétaire international pour les mesures importantes qu’ils ont entreprises.

    Mais comme le souligne le Pacte pour l’avenir, la lutte contre les inégalités exige une accélération de la réforme de l’architecture financière internationale.

    Au cours des huit dernières décennies, l’économie mondiale s’est développée et transformée.

    Les institutions de Bretton Woods n’ont pas suivi le rythme.

    Elles ne sont plus en mesure de fournir un filet de sécurité mondial, ni d’offrir aux pays en développement le niveau de soutien dont ils ont tant besoin. 

    Dans les pays les plus pauvres du monde, le coût des intérêts de la dette dépasse, en moyenne, le coût des investissements dans l’éducation, la santé et les infrastructures publiques réunis.

    Et à l’échelle du monde, plus de 80 % des cibles des Objectifs de développement durable ne sont pas en bonne voie.

    Excellences,

    Pour que l’on puisse redresser le cap, les financements mobilisés pour le Programme 2030 et l’Accord de Paris doivent connaître un véritable bond.

    Cela implique que les pays du G20 montrent l’exemple sur le Plan de relance des Objectifs de développement durable, de 500 milliards de dollars par an.

    Cela implique également d’engager des réformes pour renforcer considérablement la capacité de prêt des Banques multilatérales de développement, afin qu’elles puissent proposer bien davantage de financements abordables et à long terme pour l’action climatique et le développement.

    Cela implique de débloquer plus largement des financements pour imprévus, à travers le recyclage des droits de tirage spéciaux.

    Et cela implique de promouvoir une restructuration de la dette à long terme.

    Excellences,

    Je ne me fais guère d’illusions sur les obstacles que nous rencontrerons dans le cadre de la réforme du système multilatéral.

    Ceux qui détiennent le pouvoir politique et économique – et ceux qui croient le détenir – ont toujours une aversion au changement.

    Pourtant, le statu quo ébranle déjà leur pouvoir.

    Sans réforme, la fragmentation est inévitable, condamnant les institutions mondiales à perdre en légitimité, en crédibilité et en efficacité.

    Excellences,

    Le troisième facteur de l’insoutenabilité de notre monde est l’incertitude.

    Le sol se dérobe sous nos pieds.

    L’anxiété est à son comble.

    Les jeunes, en particulier, comptent sur nous et recherchent des solutions.

    L’incertitude est aggravée par deux menaces existentielles : la crise climatique et les bouleversements technologiques rapides, notamment l’intelligence artificielle.

    Excellences,

    Nous assistons à un véritable effondrement du climat.

    Les températures extrêmes, les incendies violents, les sécheresses et les inondations catastrophiques ne sont pas des catastrophes naturelles.

    Ce sont des catastrophes humaines, dont les combustibles fossiles précipitent l’enchaînement.

    Aucun pays n’est épargné. Mais ce sont les pays les plus pauvres et les plus vulnérables qui paient le prix fort.

    Les calamités climatiques obèrent les budgets de nombreux pays d’Afrique et leur coûtent jusqu’à 5 % de leur PIB – chaque année.

    Et ce n’est que le début.

    La température mondiale est sur le point de dépasser la limite de 1,5 degré.

    Mais si le problème s’aggrave, les solutions que l’on y apporte deviennent plus efficaces.

    Prenons l’exemple des énergies renouvelables : leur prix diminue fortement, leur déploiement s’accélère et des populations voient leur quotidien transformé par une énergie propre, accessible et d’un coût abordable.

    Les énergies renouvelables ne servent pas qu’à produire de l’électricité. Elles créent aussi des emplois et de la richesse, sont gages de sécurité énergétique et permettent à des millions de personnes de sortir de la pauvreté.

    Mais cela ne doit pas passer par le pillage des pays en développement.

    Notre Groupe chargé de la question des minéraux essentiels a recommandé que des mesures équitables et durables soient prises pour répondre à la demande mondiale dans ces ressources, indispensables à la révolution des énergies renouvelables.

    Excellences,

    Il est certain qu’un monde sans combustibles fossiles verra le jour. En revanche, rien ne dit que la transition sera rapide ou équitable.

    Cela dépend de vous.

    D’ici à l’an prochain, tous les pays devront élaborer de nouveaux plans d’action nationaux pour le climat ambitieux – ou déterminer leurs contributions au niveau national.

    Ils devront faire converger leurs stratégies énergétiques nationales, leurs priorités en matière de développement durable et les ambitions climatiques.

    Ils devront ne pas dépasser la limite de 1,5 degré, couvrir l’ensemble de l’économie et concourir à la réalisation de tous les objectifs de transition énergétique convenus lors de la COP28.

    Dans le rapport qu’elle a publié aujourd’hui, l’Agence internationale de l’énergie chiffre le niveau d’ambition à atteindre.

    D’ici à 2035, en moyenne, les émissions de gaz à effet de serre doivent diminuer de 80 % dans les économies avancées, de 65 % dans les marchés émergents.

    Les pays du G20 sont responsables au total de 80 % des émissions.

    Ils doivent mener la charge, en respectant le principe des responsabilités communes mais différenciées et en tenant compte des capacités de chacun, en fonction des différents contextes nationaux.

    Mais cette action doit s’inscrire dans une démarche collective et suppose la mise en commun des ressources, des capacités scientifiques et de technologies abordables à l’efficacité avérée pour que tous puissent atteindre cet objectif.

    J’ai l’honneur de collaborer étroitement avec le Président Lula, dont le pays préside le G20 et accueillera la COP 30, afin de garantir le plus haut degré d’ambition possible, d’accélérer le rythme des progrès et de favoriser la coopération.

    Nous venons de nous rencontrer pour discuter de cela.

    Les financements sont d’une importance cruciale.

    La COP29 arrive à grands pas.

    Elle doit être l’occasion de fixer un nouvel objectif ambitieux en matière de financement.

    Il faut également que le fonds pour les pertes et les préjudices soit à la hauteur de l’enjeu et que les pays développés tiennent leurs promesses en matière de financement de l’adaptation.

    Et l’heure est venue de faire bouger les lignes face à une situation insensée.

    Nous continuons de récompenser les pollueurs qui détruisent notre planète.

    Le secteur des combustibles fossiles continue d’engranger des profits et des subventions considérables, mais ce sont les populations qui supportent les coûts de la catastrophe climatique, depuis la hausse des primes d’assurance jusqu’à la perte de leurs moyens de subsistance.

    Je demande aux pays du G20 de mettre fin aux subventions et aux investissements liés aux combustibles fossiles et de financer à la place une transition énergétique juste,

    De mettre un prix au carbone.

    Et d’adopter des sources de financement nouvelles et novatrices – notamment en instaurant une redevance internationale de solidarité sur l’extraction des combustibles fossiles, au moyen de mécanismes juridiquement contraignants et transparents.

    Et ce, d’ici à l’année prochaine.

    Et ce en tenant compte du fait que pour les responsables, l’heure des comptes a sonné.

    Les pollueurs doivent payer.

    Excellences,

    L’essor rapide des nouvelles technologies est une autre menace existentielle dont les conséquences sont imprévisibles.

    L’intelligence artificielle transformera notre monde du tout au tout : le travail, mais aussi l’éducation, la communication, la culture ou encore la politique.

    Nous savons que l’intelligence artificielle progresse rapidement, mais où nous mène-t-elle ?

    Vers plus de liberté ou plus de conflits ?

    Vers un monde plus durable ou de plus grandes inégalités ?

    Serons-nous mieux informés ou plus faciles à manipuler ?

    Une poignée d’entreprises et même de particuliers ont déjà acquis un pouvoir immense grâce au développement de l’intelligence artificielle, sans, pour le moment, avoir véritablement à rendre des comptes et sans grand contrôle.

    Faute de mesures mondiales pour en gérer le déploiement, l’intelligence artificielle risque d’engendrer des divisions artificielles dans tous les domaines, de donner lieu à une grande fracture entre deux internets, deux marchés et deux économies et, ainsi, de faire naître une situation où chaque pays serait contraint de choisir un camp, ce qui serait lourd de conséquences pour l’humanité tout entière.

    L’ONU est une instance universelle de dialogue et de consensus.

    Elle est particulièrement bien placée pour promouvoir la coopération en ce qui concerne l’intelligence artificielle, sur la base des valeurs de la Charte et du droit international.

    C’est dans cette enceinte, et nulle part ailleurs, que les membres de la communauté internationale débattent.

    Je salue les premières mesures importantes qui ont été prises.

    Deux résolutions de l’Assemblée générale, le Pacte numérique mondial et les recommandations de l’Organe consultatif de haut niveau sur l’intelligence artificielle, peuvent asseoir les bases d’une gouvernance inclusive de l’intelligence artificielle.

    Ensemble, faisons de l’intelligence artificielle une force au service du bien.

    Excellences,

    Rien n’est éternel.

    Mais l’humanité a ceci de particulier qu’elle croit le contraire.

    L’ordre en place a toujours l’air d’être indémontable.

    Jusqu’au jour où tout bascule.

    L’histoire de l’humanité a été marquée par l’essor et la chute d’empires, l’effondrement de vieilles certitudes et de véritables séismes sur le théâtre du monde.

    Aujourd’hui, nous allons droit dans le mur.

    Il est dans notre intérêt à toutes et à tous de gérer les transformations colossales qui sont en cours, de déterminer l’avenir que nous voulons et de faciliter son avènement dans le monde.

    Beaucoup pensent que les divisions et les divergences d’aujourd’hui sont insurmontables,

    Que nous ne parviendrons pas à nous rassembler pour le bien commun.

    Vous avez prouvé que ce n’était pas le cas.

    Le Sommet de l’avenir a montré que nous pouvons unir nos forces dans un esprit de dialogue et de compromis pour engager le monde sur une voie plus durable.

    Ce n’est pas une fin.

    Ce n’est que le début, une boussole dans la tempête.

    Il faut continuer sur cette lancée.

    Ne ménageons pas nos efforts : pour lutter contre l’impunité et renforcer le respect du principe de responsabilité… pour moins d’inégalités et plus de justice… pour échapper à l’incertitude et élargir le champ des possibles.

    Les populations du monde entier comptent sur nous, et les générations futures nous jugeront à l’aune de ce que nous aurons accompli.

    Nous devons ne pas les décevoir. Nous devons être à la hauteur de la Charte des Nations Unies… de nos valeurs et principes communs… et du bon côté de l’histoire.

    Et je vous remercie.
     

    MIL OSI Africa –

    September 29, 2024
  • MIL-OSI: Societe Generale: shares and voting rights as of 23 September 2024

    Source: GlobeNewswire (MIL-OSI)

    NUMBER OF SHARES COMPOSING CURRENT SHARE CAPITAL AND TOTAL NUMBER OF VOTING RIGHTS AS OF 23 SEPTEMBER 2024

    Regulated Information

    Paris, 24 September 2024

    Information about the total number of voting rights and shares pursuant to Article L.233-8 II of the French Commercial Code and Article 223-16 of the AMF General Regulations.

    Date Number of shares composing current share capital Total number of
    voting rights

    23 September 2024

    800,316,777

    Gross: 886,300,841

    Press contact:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for nearly 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    • Societe-Generale-shares-voting-rights-as-of-23-09-2024

    The MIL Network –

    September 29, 2024
  • MIL-OSI United Kingdom: UN Human Rights Council 57: UK Statement for Item 4 General Debate

    Source: United Kingdom – Executive Government & Departments 3

    Item 4: General Debate on the human rights situations that require the Council’s attention. Delivered by the UK’s Permanent Representative to the WTO & UN, Simon Manley.

    Location:
    Geneva
    Delivered on:
    24 September 2024 (Transcript of the speech, exactly as it was delivered)

    Mr President, 

    Upholding the international rule of law lies at the heart of this Council, and we must call out violations wherever they occur. 

    The situation in Afghanistan is intolerable. The Taliban are imposing draconian controls on women and girls.

    In Iran, executions have surged. Women, girls and minority groups face repression. Journalists are silenced. The Fact-Finding Mission has said violations against protestors amount to crimes against humanity. Accountability for these violations is essential.

    We are of course deeply concerned over escalating human rights violations in the West Bank and Gaza, including the rights to life, health and free movement. We call for an immediate ceasefire, release of all hostages and protection of civilians. 

    In Xinjiang, we echo the statement made earlier by the US, while in Hong Kong, we call on the authorities to end politically motivated prosecutions, immediately release Jimmy Lai and cease attempts to apply Hong Kong law extra-territorially, including to individuals in the UK. China must uphold its human rights obligations.

    Reports of continuing Russian atrocities against Ukrainians are horrifying – not least the systematic and widespread use of torture against detainees. There must be no impunity. The rule of law must prevail.

    Updates to this page

    Published 24 September 2024

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI USA: FACT SHEET: The United  States Commitment to Address the Global Mpox  Outbreak

    US Senate News:

    Source: The White House
    “Now we face the mpox outbreak in Central and Eastern Africa. Mpox is different from COVID-19. But we will act quickly – and bring partners with us. We are prepared to commit at least $500 million – to support African countries to prevent and respond to mpox and donate up to one million doses of mpox vaccines. We call on governments, charities, and businesses to match our pledge – and make this a $1 billion commitment to the people of Africa.” —President Biden, September 24, 2024
    The United States has led global efforts to combat infectious diseases, including mpox, for decades. Most recently in 2022, the Biden-Harris Administration mounted a robust response to the spread of clade IIb mpox by making vaccines available to those at risk, making testing more convenient, and providing treatments to those who needed them both in the United States and worldwide. In response to the ongoing mpox outbreak in Eastern and Central Africa, with several cases outside the region, the United States is acting quickly and decisively to support the response, and to prepare for potential cases domestically. On September 16, the White House welcomed key partners and community stakeholders working on mpox in the United States and around the world to a roundtable with U.S. Government leadership to exchange ideas, feedback and recommendations to inform the U.S. response to this global crisis.
    This week, President Biden announced that the United States is committed to providingat least $500 million dollars, as well as one million mpox vaccine doses, to support African countries to prevent and respond to the current mpox outbreak. These investments will be delivered both bilaterally, through existing relationships with partner countries, as well as through multilateral institutions. United States investments in mpox preparedness and response will address a range of needs outlined in the Mpox Continental Preparedness and Response Plan jointly issued by the Africa Centers for Disease Control and Prevention (Africa CDC) and the World Health Organization (WHO), including training frontline health workers, disease surveillance, laboratory diagnostic supplies and testing, clinical case management, risk communication and community engagement, infection prevention and control, and research. In addition to financial support and vaccines, the U.S. Government has surged dozens of staff, including epidemiologists, laboratorians, and risk communication experts to offer support to the mpox response in DRC and each of the countries surrounding DRC.
    BUILDING STRONGER, RESILIENT HEALTH SYSTEMS
    Investments in building stronger health systems are essential to a rapid and effective emergency response. Longstanding United States support, including through the President’s Emergency Plan for AIDS Relief (PEPFAR), helped to strengthen the systems that are now supporting the mpox response.
    Ongoing global health and health security investments. Since the start of the Biden-Harris Administration, the United States has provided more than $50 billion to support global health and health security. The United States is the largest health donor in the Africa region, allocating more than $2.65 billion in bilateral health funding to countries in Central and Eastern Africa in FY 2023 alone.
    Global health security partnerships. In April 2024, the United States announced formal global health security partnerships with 50 countries, including Burundi, DRC, Kenya, and Uganda. Global health security investments make it possible for the United States to address country-identified gaps in their capacity to prevent, detect, respond to, and recover from health security threats. U.S. assistance to the government of DRC, which began in 2015, has bolstered the DRC’s efforts to contain five Ebola outbreaks since 2020, develop an antimicrobial stewardship work plan, and develop a community feedback system to address infectious disease threats.
    President’s Emergency Plan for AIDS Relief (PEPFAR). For over 20 years, PEPFAR has supported more than 55 countries worldwide, saved more than 25 million lives, enabled 5.5 million babies to be born HIV-free, and prevented millions of new HIV infections. Longstanding PEPFAR investments in creating sustainable HIV care platforms have been leveraged for quick and effective response to cholera, COVID-19, Ebola, H1N1 influenza, tuberculosis, and other health threats. Given the increased risk of severe morbidity and mortality from mpox among people living with HIV, PEPFAR is ensuring program continuity to protect people living with HIV through the use of existing PEPFAR platforms through risk communication, laboratory and surveillance capacity, referral to care, HIV testing, and vaccination delivery to help prevent and respond to mpox.
    SUPPORTING MPOX TESTING, VACCINATION, TREATMENT AND CARE
    Mpox vaccine research and development. Since 2007, the United States, through the Department of Health and Human Services (HHS), has invested more than $2 billion in the JYNNEOS vaccine as part of smallpox preparedness. Additionally, U.S. Government research institutions led the development of the JYNNEOS vaccine through preclinical evaluation, clinical trials, and advanced clinical evaluation platforms. These investments directly led to product licensure for both smallpox and mpox. On September 13, WHO announced pre-qualification of the JYNNEOS vaccine for global use, including in the Africa region in response to ongoing mpox outbreaks.
    Mpox vaccine donation. This week President Biden pledged that the United States will donate up to one million doses of the mpox vaccine. The first U.S.-donated vaccine doses arrived in Nigeria in August (10,000 doses), and in DRC in September (50,000 doses). The next installment of the U.S. commitment, 300,000 vaccine doses, will be available immediately for disbursement in coordination with Gavi, the Vaccine Alliance and the WHO Access and Allocation Mechanism. Additional mpox vaccine doses will be delivered in tranches (totaling up to one million) pending country progress in administering the vaccines, in coordination with Gavi.
    Clinical care and protecting health workers. In DRC, the U.S. Government has procured and delivered medical kits containing antibiotics, oral hydration, and wound care supplies to support government facilities to offer mpox patients relief from their symptoms free of charge, which bolsters community trust and connection with the health care system. The U.S. Government is expanding health care worker capacity to treat mpox and offer psychosocial support to patients, while simultaneously training the workers to protect themselves through use of infection prevention and control best practices.
    Diagnostic tests and training. The U.S. Government is also supporting mpox-affected countries with laboratory expertise and diagnostic supplies. This includes: providing over 40,000 individual test assays and reagents that ensured that countries in the region had the capacity to detect clade I mpox when it crossed their borders; training dozens of laboratory personnel on the use of mpox test kits and procedures to enhance laboratory safety, hygiene, and waste management; strengthening the reach and availability of rapid diagnostic testing capacity; expanding specimen transportation routes; and establishing platforms for laboratory data management.
    Development and testing of effective therapeutics. The United States Government is leading the ongoing “Study of Tecovirimat for Human Mpox Virus” clinical trial for mpox treatment in the United States and other countries affected by clade II mpox.
    Identifying mpox research priorities. To help prioritize mpox research, the United States released an update on mpox research priorities, focusing on four objectives: (1) increasing knowledge about the biology of all clades, including how the virus is transmitted and how people’s immune systems respond to it; (2) evaluating dosing regimens of current mpox vaccines to stretch the vaccine supply and developing novel vaccine concepts; (3) advancing existing and novel treatments, including antivirals and monoclonal antibodies; and (4) supporting strategies for detecting the virus to facilitate clinical care and epidemiological surveillance.
    LEVERAGING STRONG MULTILATERAL PARTNERSHIPS
    As with investments in health systems, building stronger and more effective multilateral institutions between emergencies is essential to ensuring the world is prepared to respond effectively in times of crisis. The United States supports the critical roles of WHO and Africa CDC in leading the mpox response, and we call on those institutions to utilize the strong partnerships that are already in place, including with other multilateral institutions, to protect the health and wellbeing of people living in the affected countries.
    World Health Organization. Among his first acts in office, President Biden declared the United States would reengage with WHO, highlighting our nation’s commitment to advancing multilateral cooperation in a global health crisis. Beyond health emergencies, the United States is collaborating with WHO on a wide range of global health issues such as childhood immunization, nutrition, polio eradication, and strengthening the global health workforce to achieve universal health coverage. Since the beginning of the Biden-Harris Administration, the United States has provided nearly $1.9 billion of support to WHO. In addition, since March 2024, the United States has already provided more than $7.7 million to WHO to support mpox response activities, and $450,000 for building sustainable capacity for mpox elimination in DRC, Burundi, Central African Republic, Republic of Congo, Rwanda, and Uganda. 
    Africa CDC. The United States welcomes and supports the role of Africa CDC as a continent-wide public health institution, established in 2016. In 2022, the U.S. Government signed a Memorandum of Cooperation to Promote Public Health Partnership with the African Union, accompanied by a U.S.-Africa CDC Joint Action Plan outlining shared global health priorities and areas for collaboration. In addition to substantial U.S. bilateral and multilateral support aligned with Africa CDC’s five-year strategic plan and Agenda 2063, the United States provided more than $3 million in direct support to the Africa CDC in the form of in-kind assistance last year alone.
    Gavi, the Vaccine Alliance. Gavi holds essential expertise in effective vaccine procurement, distribution, and administration, which should be leveraged immediately in the mpox response. Since its inception in 2000, the United States Government has invested or announced: 1) over $3.6 billion to improve equitable access to new and underutilized vaccines in low- and middle-income countries; 2) a $4 billion dollar contribution to Gavi’s COVAX Advance Market Commitment; 3) an annual contribution to Gavi’s core budget, including $300 million in 2024 ; 4) and pledged at least $1.58 billion towards USG’s first-ever five-year pledge to Gavi’s next replenishment cycle, subject to Congressional approval. U.S. funding is included in Gavi’s $500 million First Response Fund, which is supporting procurement, delivery, and deployment of 500,000 JYNNEOS doses in response to the mpox outbreak. Finally, affected countries, WHO, Africa CDC, and Gavi recently established the Access and Allocation Mechanism (AAM) as a platform to increase equitable access to mpox response resources and contributions.
    The Quad. The Quad partnership was established in 2020 between the United States, India, Japan and Australia as a global force for good, including working together to help partners address pandemics and disease. During a September 21 Quad Summit, leaders agreed to coordinate efforts to promote equitable access to safe, effective, quality-assured mpox vaccines, including where appropriate expanding vaccine manufacturing in low and middle-income countries.
    Coalition for Epidemic Preparedness Innovations (CEPI). CEPI is working to accelerate the development of life-saving vaccines against emerging disease threats, and to transform capability for rapid countermeasure development in response to future threats.To date, the U.S. Government has invested $117 million through CEPI to accelerated the development of vaccines and other biologic countermeasures against epidemic and pandemic threats. CEPI has funded two scientific studies in Africa (the DRC and Uganda) focused on the JYNNEOS vaccine; it has also supported early clinical development of BioNTech’s next-generation mRNA-based pox vaccine and providing funding to support Bavarian Nordic’s MVA-BN® mpox vaccine clinical trials in DRC, Uganda, and Nigeria through the SMART trial.
    The Global Fund to Fight AIDS, Tuberculosis and Malaria. The Global Fund is working to defeat HIV, TB and malaria and ensure a healthier, safer, more equitable future for all. The U.S. is the largest donor to The Global Fund, and President Biden led the largest Global Fund replenishment ever in 2022. In August 2024, in response to the evolving mpox outbreak, the Global Fund quickly pivoted to update its guidance in order to direct grant funds to help eligible countries to prevent, detect, and respond to mpox outbreaks. Earlier this month, Global Fund committed an additional $9.5 million to support DRC’s mpox response.
    UNICEF. As the lead UN agency for children, UNICEF works in over 190 countries to save children’s lives and to support health and development. To date, the U.S. has provided UNICEF with more than $1.4 million to support clade I mpox preparedness and response activities in DRC, Burundi, and the Republic of Congo. UNICEF supports risk communication and community engagement, clinical services, psychosocial support, and coordination.
    United Nations High Commission for Refugees (UNHCR). As the lead UN agency for refugees, UNHCR provides vital protection and assistance to refugees, asylum-seekers, internally displaced and stateless people. Through UNHCR, the United States has provided nearly $9 million in humanitarian assistance this year to address urgent mpox-related needs among refugees, internally-displaced persons, host communities and other vulnerable populations in 14 countries throughout Africa.
    International Federation of Red Cross and Red Crescent Societies (IFRC). IFRC is the world’s largest humanitarian network working in more than 190 countries through a network of more than 16 million volunteers. To date, the U.S. Government has provided IFRC with $800,000 to support clade I mpox preparedness and response activities in DRC. IFRC supports risk communication and community engagement, clinical services, psychosocial support, and coordination.
    EXPANDING HEALTH EMERGENCY FINANCING
    In addition to ongoing bilateral and multilateral support to build stronger health systems, respond to ongoing health challenges, and pivot to address the current mpox crisis, the United States supports expanded sources of financing for response to health emergencies. Many of these have been developed and launched since the COVID-19 pandemic to address gaps identified through that response.
    The Pandemic Fund. As the only multilateral fund fully focused on prevention and preparedness, the Pandemic Fund has a critical role to play in building capacity to end the current outbreak and prevent the next one. The Pandemic Fund has taken quick action to support mpox preparedness efforts, approving $129 million to support 10 countries impacted by the disease to strengthen laboratory, surveillance, and human resources capacities. The selected projects meet needs articulated in the joint WHO-Africa CDC Mpox Continental Preparedness and Response Plan for Africa. The awards will be implemented over multiple years enabling an effective transition from crisis to long term preparedness. To continue its critical work, the Pandemic Fund is engaged in a concurrent resource mobilization round, with the goal of raising at least $2 billion in new funding through 2026. The United States has committed to provide up to $667 million, subject to Congressional appropriations and the availability of funds.
    Gavi’s Day Zero Financing Facility. The United States has supported Gavi, the Vaccine Alliance in establishing the Day Zero Financing Facility, a suite of tools that will mobilize, for example, up to $2 billion in risk-tolerant surge and contingent capital to enable Gavi to quickly meet the demand for vaccines in a pandemic.
    U.S. Development Finance Corporation (DFC) Health Emergency Financing: The DFC finances private-sector led solutions to health services, supply chain, and technology challenges in low- and middle-income countries. These solutions improve health system resilience and pandemic preparedness through: 1) a $1 billion-dollar rapid financing facility applicable to a full spectrum of vaccines (COVID-19, childhood vaccine-preventable diseases, and future outbreaks); 2) investments in regional, Africa-based vaccine manufacturing, including Aspen Pharmacare (South Africa) and Institute Pasteur de Dakar (Senegal); and 3) a G7 Surge Financing Initiative for Medical Countermeasures that supports Gavi and regional vaccine manufacturers.
    Multilateral development bank (MDB) evolution. MDBs have a key role to play in helping countries address global challenges, such as climate change, pandemics, and fragility and conflict. The United States is working with other shareholders to evolve the visions, incentive structures, operational approaches, and financial capacity of the MDBs to equip these institutions to respond to global challenges with sufficient speed and scale. The United States is pleased to see the close coordination between the World Bank, IMF, and regional development banks with WHO and affected countries on how to best utilize or reprogram resources to aid the mpox response.
    —-
    To learn more about mpox, its signs and symptoms, vaccines, prevention, and treatments, please visit the U.S. CDC website.

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI United Kingdom: City to stage landmark climate action concerts

    Source: City of Liverpool

    Liverpool is to host a landmark series of concerts in celebration of being named the world’s first ‘UN Accelerator City’ for climate action.

    ‘Act 1.5 presents…’ will see a weekend of live music and events, from 28th – 30th November, at Liverpool’s M&S Bank Arena, featuring Massive Attack, IDLES and Nile Rodgers.

    This unique series of shows are being staged to mark today’s announcement at UN Headquarters in New York that Liverpool is the world’s first ‘UN Accelerator City’ for climate action.

    This accolade recognises the city’s commitment to technical innovation and smart regulation to rapidly decarbonise the live music and TV/Film production sectors.

    Building on the methods first trialled in Bristol, and continuing their partnership with clean energy provider Ecotricity, ‘Act 1.5 presents…’ will test, operate & adapt a range of measures to dramatically reduce the level of carbon emissions & air pollution that would usually be produced at an event of this scale.

    These include:

    – A localised presale period for anyone living in the Liverpool City Region from 12.00 Wednesday 25th September.

    – An entire event site powered entirely by 100% renewable energy.

    – A public transport incentive initiative in partnership with Merseytravel, Avanti West Coast and Trans Pennine Express that will generate a vital reduction in audience travel emissions (where up to 80% of emissions for major live music events are generated)

    – A meat free arena

    – 100% zero to landfill waste removal

    – “Plug & Play” Single Technical set Up shared by each act

    – Show to end earlier than standard at 22:00 to allow audiences to use public transport to get home

    Robert Del Naja of 3D – Massive Attack, said: “Our recent Bristol show demonstrated beyond question that major live music events can be Paris 1.5 compatible, and that audiences will embrace change enthusiastically.

    “The vast scope of work in Liverpool and UN recognition means we can now concentrate more dynamic pilots and experiments to rapidly phase out fossil fuels. This idea and this insistence are not going back in any box. We’re delighted to see artists like Coldplay testing elements like localised ticket pre-sales as recommended in the Tyndall Centre Paris 1.5 decarbonisation road map and encourage other artists to do so freely. The talking stage is over, it’s time to act.”

    Nile Rodgers said: “Some of the greatest CHIC shows have taken place in Liverpool so I’m thrilled that we are bringing our funk back to the city. We love the people and it’s always a night to remember. However, the circumstances this time are special, as we’re joining forces with our friends in Massive Attack to launch Liverpool’s UN climate action programme across music and film.

    “Our We Are Family Foundation community of global youth changemakers have been sounding the alarm and working in the climate change space for years, as have Massive Attack, and now it’s time for all of the music and film communities to get onboard. Yes, we’re going to have a party at Liverpool Arena, but we’re also going to act!”

    Ticketing

    We know that the majority of both carbon emissions and air pollution for major live events comes from how the audience travel. To try and tackle this issue, tickets for this unique event will be released in two blocks.

    The first block release will be available to those that live in the Liverpool City Region, with an exclusive 48-hour regional presale taking place between 12:00 on Wednesday 25th September and 12:00 on Friday 27 September.

    For these ticket buyers, an additional small but fixed fee will be added to your gig ticket to cover your public transport to the event. This will mean that on the day of your show, you can enjoy unlimited travel on any train, any bus or any ferry on the Merseytravel network – all day – getting you to and from the show.

    It’s estimated that 500 cars = 1 train so this unique TAG ticket (Travel and Gig) is a vital part of the experimental nature of these shows: participating in this experiment will keep Merseyside air cleaner for the people that live here, and significantly draw down dangerous greenhouse gases.

    If you live within the Liverpool City region, then get tickets here: https://www.mandsbankarena.com/act-1-5-presents/

    In the second block release of tickets, all fans will be able to purchase tickets from 12.00 on Friday 27th September. Offers and incentives on public transport from outside the region – especially rail travel – will be shared with buyers via their ticketing agent.

    For general sales (opening at 12:00 on Friday 27th) please visit: https://tix.to/ACT1.5PRESENTS

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI Economics: Regional Symposium and Policy Dialogue on Transforming Education

    Source: Caribbean Development Bank

    The Regional Symposium and Policy Dialogue on Transforming Education will take place from 2-4 October 2024 at the Ritz-Carlton Hotel, Cayman Islands.

    Hosted by the Caribbean Development Bank (CDB) in collaboration with the Caribbean Community (CARICOM), the Organisation of Eastern Caribbean States (OECS) Commission, UNESCO, and UNICEF, this event will bring together over 150 regional leaders, educators, and policymakers for thought-provoking discussions, expert presentations, and collaborative sessions aimed at addressing the most pressing challenges facing the Caribbean education sector.

    Held under the theme “Understanding, Leveraging, and Unlocking Our Full Potential”, the symposium will focus on leadership transformation, revamping teaching and learning methods, and expanding access to quality education. Key areas of focus are:

    1. Inclusive, equitable, safe, and healthy schools
    2. Learning and skills for life, work, and sustainable development
    3. Teachers and the teaching profession
    4. Digital learning and transformation
    5. Financing education

    The agenda will explore decolonising education, AI in education, building a culture of social and emotional learning, and the role of education in creating healthier societies, as well as other pressing issues impacting regional education systems.

    Regional leaders will use these discussions to develop the Agenda for Action, a consensus-driven roadmap for transforming education across the Caribbean.

    MIL OSI Economics –

    September 29, 2024
  • MIL-OSI Banking: Tecnológico de Monterrey university pioneers ambitious AI-powered learning ecosystem

    Source: Microsoft

    Headline: Tecnológico de Monterrey university pioneers ambitious AI-powered learning ecosystem

    David Balleza, a third-year computer systems engineering student at the Tecnológico de Monterrey, has never been a fan of knocking on professors’ doors each time he hits a snag in his studies. His reluctance comes with a caveat: It’s hard to get the right help with the often-abstract concepts of his field. All that changed once TECgpt entered his life.

    “It’s a game changer,” he says. “It’s like having a scholar by your side you can interact with.”

    TECgpt1 is the generative AI-powered ecosystem created by the prestigious Mexican private university, with the goal to personalize education based on the students’ needs, improve the learning process, boost teachers’ creativity and save time on tedious tasks.

    The platform, which is built on Azure OpenAI Service and uses OpenAI’s GPT-4o, is formed by a set of different tools and has two main functions: administrative and academic. It’s one of the first AI initiatives of this kind in Latin America.

    Recently, Balleza struggled to grasp a computing algorithm problem which had been covered in class a few days earlier. His classmates didn’t understand it either and the professor was not available. He asked the Academic TECbot, a 24/7 tutor and teaching assistant, for help and in a few seconds, it generated a comprehensive explanation in a way he could finally understand.

    Balleza, who participated in a pilot program for the AI assistant, says that he felt empowered and more confident in his studies after using the tool. Behind his experience was the dedicated work of the professors who produced the data for the tutor by integrating their educational material created for class with customized tutorial content specifically designed for it.

    Tecnológico de Monterrey, one of the oldest and most renowned colleges in Mexico and abroad, has often been at the forefront of innovation and technology in its 81-year-old history (it adopted computers as early as in the 1960s). The university’s headquarters are in the northern city of Monterrey, Mexico’s industrial powerhouse, just 100 miles south of Texas.

    “We knew from the beginning that AI was a phenomenon of such magnitude that the sooner we jumped on board and designed our own journey, the better,” says Carles Abarca, the university’s vice president for digital transformation.

    Users can access the AI systems through the university’s intranet on their computer or a phone app. The experience is customized depending on whether you are a professor, a student or a collaborator, the term that the university uses for its employees. It has been designed to be potentially available to the 35,000 employees of the institution, including 11,000 professors, and to all 90,000 students across more than two dozen campuses in Mexico.

    Carles Abarca, the Tecnológico de Monterrey’s vice president for digital transformation, says the institution had no doubt in embracing AI as an educational tool. Photo by Octavio Hoyos.

    Internal and external data

    The platform combines both internal and external data through its different features. Some tools are accessible to all employees and students, including a natural language chat that uses internal data to answer questions related to tuition, scholarships and campus shuttle schedules, among others, which students describe as a huge time saver. There is also a chat with access to external data and the ability to summarize texts and create images through prompts.

    A separate set of academic tools strictly focused on the learning process is used only by teachers, who produce all the data, and students. It is split into three interconnected components: Skill Studio, which enables professors to create teaching material, from exercises to mock tests to quizzes, and the Academic TECbot and Librarian TECbot, which work as personalized tutors for students.

    The library assistant can quickly find books and handbooks from more than 60 million sources of the university’s library and other licensed content.

    TECgpt launched a year ago and is already used by 3,000 users monthly. The academic tools have been in beta phase, but are expected to be accessible to all teachers and around 5,000 students between now and early 2025, Abarca says.

    Students who have participated in the pilot phase highlight how the platform helped them fill gaps in understanding quickly and efficiently. Professors say it helped them automate repetitive academic tasks and find more creative and innovative learning takeaways.

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI Canada: Economic growth during uncertain times

    Source: Bank of Canada

    Good afternoon. I want to thank the Institute of International Finance and the Canadian Bankers Association for inviting me to take part in your 2024 Forum.

    Your focus on growth during uncertainty is timely. Uncertainty feels like the new reality: The uncertainty caused by war in Europe and in the Middle East. The uncertainties arising from geopolitical tensions and economic fragmentation. And the related uncertainties about supply chains, trading relationships and global investment risks.

    Rapid advances in new technologies, particularly artificial intelligence (AI) and its new offspring, Generative-AI, are disrupting business models and creating new uncertainties for firms and workers.

    Uncertainty surrounds the impacts of climate change and the policy frameworks to adapt to and mitigate it.

    There is political uncertainty. And fiscal uncertainty.

    As your theme implies, uncertainty and economic growth do not sit well together: uncertainty impedes growth.

    But with inspired policy, good business decisions and sound risk management, we can manage uncertainty and reduce its impact on households, businesses and growth. We have recent historical evidence.

    Sixteen years ago this month, Lehman Brothers failed, and the financial system froze because nobody knew which banks were safe. Today, the global financial system is much safer thanks to the implementation of sweeping global reforms to increase capital and liquidity buffers, and reduce leverage.

    With the rapid development of new vaccines and with exceptional fiscal and monetary policies, uncertainty about our health and the health of our economies has decreased dramatically since the depths of the COVID-19 pandemic.

    Thanks to decisive monetary policy action and the unblocking of supply chains, uncertainty about costs and inflation are much lower today than two years ago, when inflation peaked above 8% in Canada and was even higher in many other countries.

    In the past few weeks, I have given speeches on the shifting global trade landscape and the economic implications and risks of rapid advances in artificial intelligence. These are two key areas where we can reduce uncertainty through good policy and far-sighted business leadership.

    At the same time, we need to recognize that new uncertainties are a new reality, and we must be ready for the inevitable shocks in a more turbulent world. That puts a priority on risk management and investments in resilience.

    A key function of financial institutions is to help households and businesses manage the risks they face. Financial institutions also have a responsibility to manage their own risks prudently so that they do not themselves become a source of uncertainty and instability.

    As Canada’s central bank, we have a role to play in mitigating and managing risks and uncertainty. Our primary mandate is price stability—in other words, low, stable and predictable inflation. We also have mandates to foster a stable financial system and ensure safe and efficient payments.

    Let me say a few words on financial stability and payments. And then I’ll finish with some thoughts on monetary policy.

    Our financial stability focus is on risks that could lead to system-wide stress. And we publish these findings in our annual Financial Stability Report (FSR).

    In our most recent FSR, published in May, we reported that Canadian mortgage holders had experienced a modest increase in levels of financial stress. Since then, we’ve observed that arrears on mortgages have continued to rise, although they remain below pre-pandemic levels. It also appears that these households have not leaned on revolving credit products such as lines of credit and credit cards to a greater degree than before the pandemic.

    But there is a notable increase in financial stress among borrowers without a mortgage, mainly renters. During the pandemic, for most credit products, the share of these borrowers missing payments reached historical lows. However, we’re now seeing a larger share of these borrowers lagging behind on credit card and auto loan payments. Over the past year the share of borrowers without a mortgage who carry a credit card balance of at least 90% of their credit limit has continued to climb. And this share is now above typical historical levels. This is concerning.

    Our responsibilities related to payments require us to adapt to increasing digitalization. Innovation in payments continues to accelerate.

    In 2021, the Bank assumed a new mandate for the supervision of retail payment service providers. Starting November 1st of this year, more than 3,000 service providers will need to register with the Bank and follow new rules aimed at safeguarding consumers and protecting the integrity of retail payments.  

    We are also looking at the bigger picture of payment innovation, both in Canada and around the world. As part of this work, in the past few years we’ve built an extensive body of knowledge about the framework and technology behind a possible central bank digital currency (CBDC), including the benefits and risks.

    But recognizing that there is not currently a compelling case to move forward with a CBDC in Canada, the Bank is scaling down its work on a retail central bank digital currency and shifting its focus to broader payments system research and policy development. The Bank will continue to monitor global retail CBDC developments. And the Bank will be ready to ensure Canadians always have a safe and secure supply of public money.

    Now, let me circle back to monetary policy.

    In June, we began lowering our policy interest rate. We cut the policy rate at our last three decisions, for a cumulative decline of 75 basis points to 4.25%.

    Our most recent decision on September 4th reflected two main considerations.

    First, we noted that headline and core inflation had continued to ease as expected. Second, we said that as inflation gets closer to target, we want to see economic growth pick up to absorb the slack in the economy.

    Since then, we’ve been pleased to see inflation come all the way back to the 2% target. It has been a long journey. Now we want to keep inflation close to the centre of the 1%–3% inflation-control band. We need to stick the landing.

    What does this mean for interest rates? With the continued progress we’ve seen on inflation, it is reasonable to expect further cuts in our policy rate. The timing and pace will be determined by incoming data and our assessment of what those data mean for future inflation.

    As always, we try to be as clear as we can about what we are watching as we chart the course for monetary policy.

    Economic growth picked up in the first half of this year, and we want to see it strengthen further so that inflation stays close to the 2% target. Some recent indicators suggest growth may not be as strong as we expected. We will be closely watching consumer spending, as well as business hiring and investment.

    We will also be looking for continued easing in core inflation, which is still a little above 2%. Shelter cost inflation remains elevated but has started to come down, and we are looking for it to moderate further.

    Our next decision is October 23rd. And we will have a revised economic outlook at that time.

    With those introductory thoughts, let’s get the discussion started.

    I would like to thank Russell Barnett, Claudia Godbout and Brian Peterson for their help in preparing these remarks.

    MIL OSI Canada News –

    September 29, 2024
  • MIL-OSI USA: Attorney General Bonta’s Sponsored Bill to Solve More Crime Through Forensics Services Signed into Law

    Source: US State of California Department of Justice

    Tuesday, September 24, 2024

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

     

    AB 3042 extends the sunset on Proposition 69, the “DNA Fingerprint, Unsolved Crime and Innocence Protection Act” which directs funding from criminal fines to bolster essential crime-solving DNA services

    OAKLAND — California Attorney General Rob Bonta today issued a statement after Assembly Bill 3042 (AB 3042) was signed into law by Governor Gavin Newsom. Authored by Assemblymember Stephanie Nguyen (D – Elk Grove), AB 3042 ensures DOJ will be able to continue to provide important forensic DNA services with funding through updates to Proposition 69, the “DNA Fingerprint, Unsolved Crime and Innocence Protection Act.” The bill also extends the sunset date for Proposition 69 and directs funding from criminal fines to support essential crime-solving DNA programs both at DOJ and local law enforcement agencies. 

    “I am very proud of the important work that is done in our Bureau of Forensic Services and will continue to be done thanks to this new law,” said Attorney General Rob Bonta. “The Bureau receives crucial funding through Proposition 69, and AB 3024 will ensure that Proposition 69 remains in place to support our efforts to solve crime through forensic services. I want to thank Assemblymember Nguyen, our legislative partners and Governor Newsom for their work toward this important goal.”

    “I would never feel safe knowing someone who has harmed me or my loved ones are still out there,” said Assemblymember Stephanie Nguyen. “I am proud to author AB 3042 in collaboration with Attorney General Bonta to continue key funding to better support public safety in our communities as well as exonerating the innocent.”

    Voters approved Proposition 69 in November 2004. Proposition 69 specifically directs money from criminal fines to be allocated towards funding the CAL-DNA Data Bank program which helps to solve violent crimes both at local public crime laboratories and within DOJ itself using the FBI’s Combined DNA Index System (CODIS). In another provision of Proposition 69, the CAL-DNA Data Bank also assists with the identification of missing and unidentified persons, including abducted children, using separate Missing Person CODIS databases. Historically, DOJ has received more than $74 million through Prop. 69 over a span of two decades. However, this proposition included a sunset date that would terminate funding collection after twenty years. AB 3042 sought to extend the sunset date to establish a steady source of revenue outside of the General Fund that will support DNA testing programs at both state and local levels. 

    AB 3042 was supported by California Association of Crime Laboratory Directors, California District Attorneys Association, California State Sheriffs’ Association, County of Kern County Board of Supervisors, Los Angeles Board of Supervisors, Los Angeles County Professional Peace Officers Association, Los Angeles County Sheriff’s Department and San Diego County Sheriff’s Department.

    The text of the legislation is available here. 

    # # #

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI USA: Providing Sustainable Power for 123,000 More Homes

    Source: US State of New York

    In celebration of Climate Week, Governor Kathy Hochul today announced that the New York State Office of Renewable Energy Siting and Electric Transmission has issued final siting permits for the Rich Road Solar Energy Center and Prattsburgh Wind LLC projects. The solar farm and the wind farm, located in St. Lawrence County and Steuben County, respectively, will bring a combined 387 megawatts of clean, renewable energy to New York’s electric grid, powering more than 123,000 average-sized homes. Both facilities will contribute significantly to the State’s ambitious climate goals while providing economic benefits to local communities.

    “These two massive renewable energy projects are prime examples of our progress in transitioning to a clean energy economy,” Governor Hochul said. “With the issuance of these siting permits, we are creating good-paying jobs in the North Country and the Southern Tier, while providing clean sustainable energy for our families and businesses.”

    The Rich Road Solar project developers estimate that the 240 MW solar farm—which will be supplemented with an additional 20 MW battery energy storage system (BESS) located in the Town of Canton, St. Lawrence County—will generate clean energy capable of powering more than 61,000 average-sized homes. The Prattsburgh wind farm, a 147 MW wind project spanning the Towns of Prattsburgh, Avoca, Cohocton, Howard, and Wheeler in Steuben County, will produce enough power for an estimated 62,000 homes according to its developers.

    Today’s announcement marks the second and third major renewable energy facility permits issued by ORES this month. Together, the projects bring the total number of ORES-approved large-scale renewable energy projects to 18 since 2021, representing over 2.7 gigawatts of clean energy. The approvals come during New York’s Climate Week, highlighting the State’s continued leadership in advancing clean energy initiatives and reinforcing its commitment to working toward the State’s climate goals.

    Office of Renewable Energy Siting and Electric Transmission Interim Executive Director Jessica Waldorf said, “Today’s announcement demonstrates the State’s continued commitment to a clean energy transition and the responsible siting and development of renewable energy resources. ORES’ issuance of the permits of the Rich Road Solar Energy Center and Prattsburgh Wind LLC projects will support the delivery of significant amounts of clean energy to the electric grid and local community benefits, while mitigating significant adverse environmental impacts.”

    New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “The implementation of wind and solar developments like the projects announced today in St. Lawrence and Steuben counties is a critical part of Governor Hochul’s commitment to advancing a clean energy economy and achieving the goals of the Climate Leadership and Community Protection Act. DEC commends the Governor and ORES for their efforts to accelerate green energy deployment and address the challenges of climate change to ensure a greener future for all New Yorkers.”

    Alliance for Clean Energy New York Executive Director Marguerite Wells said, “Every megawatt of clean energy that comes online is a win for New Yorkers in the fight against climate change, and brings lasting economic benefits to our state. We thank the state and ORES for granting these siting permits and we look forward to the day the switch is flipped and power flows from these important projects.”

    New York League of Conservation Voters President Julie Tighe said, “With the impacts of climate change growing more dire by the day, we can no longer afford to just talk about renewable energy, we need to deliver real projects on the ground, and that’s why we’re thrilled to see Governor Hochul and the team at ORES approve the Rich Road Solar Energy Center and Prattsburgh Wind projects. Together, their promise of 387 megawatts of clean energy mark another important step on New York’s path to meeting our CLCPA obligations and transitioning to the clean energy economy we need.”

    The application for the Rich Road solar farm was deemed complete on January 3 and a draft permit was issued by ORES on March 4. A thorough, timely, and transparent review process followed that included a public comment period and hearing. The facility will feature three ground-mounted solar PV arrays on single-axis tracker racking systems, a 34.5 kilovolt (kV) to 345 kV collection substation, and a point of interconnection switchyard. Construction of the facility will create more than 300 full-time jobs, with four permanent positions during operation. The project is expected to provide $24 million in direct payments to the Town of Canton, St. Lawrence County, and local school districts over the next 35 years.

    The application for the Prattsburgh wind farm was deemed complete on October 30, 2023, with a draft permit issued by ORES on December 29, 2023. The project will encompass 36 wind turbines and related infrastructure across approximately 53 acres of primarily rural land. The project will generate more than $1.2 million annually in tax revenue for local municipalities and over $500,000 in direct lease and neighbor agreement payments to landowners. Additionally, it will create 81 on-site jobs during construction and eight full-time positions during operation.

    Both projects are integral to New York’s broader strategy to meet the Climate Leadership and Community Protection Act’s targets, which mandate 70 percent renewable electricity by 2030 and a zero-emissions electricity sector by 2040. Additionally, both projects were approved in less than the one-year timeframe required under the law.

    For more information about the Rich Road Solar and Prattsburgh Wind projects, as well as other ORES-permitted facilities, visit the ORES website.

    New York State’s Nation-Leading Climate Plan

    New York State’s climate agenda calls for an orderly and just transition that creates family-sustaining jobs, continues to foster a green economy across all sectors and ensures that a minimum of 35 percent, with a goal of 40 percent, of the benefits of clean energy investments are directed to disadvantaged communities. Guided by some of the nation’s most aggressive climate and clean energy initiatives, New York is advancing a suite of efforts – including the New York Cap-and-Invest program (NYCI) and other complementary policies – to reduce greenhouse gas emissions 40 percent by 2030 and 85 percent by 2050 from 1990 levels. New York is also on a path toward a zero emission electricity sector by 2040, including 70 percent renewable energy generation by 2030, and economy-wide carbon neutrality by mid-century. A cornerstone of this transition is New York’s unprecedented clean energy investments, including more than $28 billion in 61 large-scale renewable and transmission projects across the State, $6.8 billion to reduce building emissions, $3.3 billion to scale up solar, nearly $3 billion for clean transportation initiatives and over $2 billion in NY Green Bank commitments. These and other investments are supporting more than 170,000 jobs in New York’s clean energy sector as of 2022 and over 3,000 percent growth in the distributed solar sector since 2011. To reduce greenhouse gas emissions and improve air quality, New York also adopted zero-emission vehicle regulations, including requiring all new passenger cars and light-duty trucks sold in the State be zero emission by 2035. Partnerships are continuing to advance New York’s climate action with more than 400 registered and more than 130 certified Climate Smart Communities, over 500 Clean Energy Communities, and the State’s largest community air monitoring initiative in 10 disadvantaged communities across the State to help target air pollution and combat climate change.

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI USA: Kennedy introduces bill to protect taxpayer privacy, strengthen penalties for leaking personal data

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, has introduced the Taxpayer Data Protection Act to safeguard Americans’ sensitive data and increase penalties for those who steal and leak Americans’ tax information.
    “American taxpayers deserve to know that their financial data is safe from criminals and bad actors. My bill would discourage would-be crooks and vigilantes from exposing anyone’s personal tax information by increasing the punishment for those abuses,” said Kennedy. 
    Rep. Jason Smith (R-Mo.) introduced the Taxpayer Data Protection Act in the House, which passed the legislation earlier this month.
    “Americans rightfully expect their personal tax information is safe and protected when they file their tax returns with the IRS. Unfortunately, that expectation was shattered when IRS contractor Charles Littlejohn was discovered to have stolen the private tax data of thousands of individuals, including President Trump, and leaked that information to the New York Times and ProPublica for publishing. Mr. Littlejohn was aware of the legal consequences before committing his theft, but was unfazed and undeterred. He even went as far as to destroy evidence and conceal his actions from law enforcement. The Taxpayer Data Protection Act scales up the punishment to fit the crime and sends a clear message to would-be criminals that Congress will not tolerate the theft of Americans’ personal and private tax information,” said Smith.
    Under current law, disclosing tax information without that authority is a felony that is punishable by a fine of up to $5,000, by a sentence of up to five years in prison or both. The legislation would increase the maximum fine to as much as $250,000, lengthen potential prison sentences to as many as 10 years and subject criminals to either or both punishments.
    Kennedy’s bill would also clarify that a person who exposes personal data is subject to prosecution for every taxpayer whose data he or she leaked. The Biden Justice Department recently employed a political maneuver by charging Charles Littlejohn with one count of improperly disclosing tax return information even though he stole tax return information for thousands of Americans. Under this bill, criminals who share data from multiple Americans would not be able to avoid prosecution for multiple counts.
    Background:
    In 2019, Internal Revenue Service contractor Charles Littlejohn illegally leaked the tax returns of President Donald Trump to the New York Times. 
    In 2020, Littlejohn also illegally disclosed the tax information of roughly 7,600 individuals and 600 entities to ProPublica for political purposes.
    In 2023, the Department of Justice announced it was charging Littlejohn with just one count of disclosing tax return information without authorization despite his distributing the information of thousands of Americans.
    The judge overseeing the case ultimately sentenced Littlejohn to five years in prison and a $5,000 fine because the law did not allow a more appropriate punishment. 
    The full bill text is available here.

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI USA: Kennedy, Scott introduce bill to help Americans access capital, make investments and hold SEC accountable

    US Senate News:

    Source: United States Senator John Kennedy (Louisiana)
    WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, today joined Sen. Tim Scott (R-S.C.) and colleagues in introducing the Empowering Main Street in America Act to promote Americans’ access to capital and investment opportunities. The legislation also fosters transparency of the Security and Exchange Commission (SEC) so that regulators are held accountable to the public.
    “Every day, the American dream is becoming less attainable thanks to government bureaucracy. Louisianians and all Americans deserve a level playing field when it comes to accessing capital and making investments. I’m proud to help introduce the Empowering Main Street in America Act to ensure that small businesses and job creators in every corner of our country have the tools they need for financial prosperity and security,” said Kennedy. 
    “Our capital markets system is the envy of the world and has helped many Americans build wealth and save for their futures. But unfortunately for individuals in communities like the one I grew up in, investing in a local venture or raising capital to grow a business seems out of reach. We need to change that – and this comprehensive legislation will create economic opportunity and provide more Americans with the resources necessary to achieve financial security for their families and realize their version of the American Dream, while ensuring small business owners can access capital to grow and innovate,” said Scott. 
    The legislation would:
    Reverse burdensome regulations to help entrepreneurs, small business owners and public companies raise funding in rural and metropolitan areas alike. 
    Expand the criteria that everyday Americans must meet in order to qualify as accredited investors. 
    Improve the readability, clarity and accessibility of information that retail investors need to make informed decisions.
    Ensure the SEC is transparent by holding it accountable to Congress and the public by broadening oversight provisions in the Dodd-Frank Act. 
    Sens. Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Thom Tillis (R-N.C.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), Katie Britt (R-Ala.), Kevin Cramer (R-N.D.) and Steve Daines (R-Mont.) also cosponsored the legislation. 
    The full bill text is available here.  

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI Global: Can cryptocurrencies ever be green?

    Source: The Conversation – UK – By Jean Bessala, Lecturer in Finance, Salford Business School, University of Salford

    Mabeline72/Shutterstock

    Cryptocurrencies have been condemned over their environmental record at a time when
    traditional investments have been rapidly moving towards greener environmental, social and governance (ESG) values. So how long will it be until crypto earns its green credentials?

    Green investments are assets like bonds that pay for projects with positive environmental and social outcomes. Green bonds for example, contribute to cuts in greenhouse gas emissions, an increase of renewable energy capacity and uptake in clean transport infrastructures.

    Crypto investments on the other hand are widely seen as environmentally unfriendly, mainly because of crypto mining and the huge energy it demands. Mining in the context of crypto refers to a mechanism called “proof of work” (POW) where crypto “miners” use specialised computers to solve complex mathematical equations to secure transactions and create new coins. This is where the energy use comes in.

    Agencies and organisations like the International Energy Agency and the United Nations have raised concerns about the effects of crypto mining – particularly Bitcoin, the best-known crypto asset.

    The environmental footprint of crypto

    The United Nations University Institute for Water, Environment and Health estimated that in 2020-2021, Bitcoin networks had significant carbon, water and land footprints. Bitcoin’s carbon footprint was equivalent to burning 38 billion tonnes of coal, while its water footprint (mainly used for cooling systems) would have met the domestic water needs of more than 300 million people in sub-Saharan Africa.

    The Cambridge Blockchain Network Sustainability Index puts the electricity consumption of Bitcoin networks above those of several developed countries, including Norway and Sweden. For investors who are serious about achieving ESG goals, this aspect of crypto would likely be a deal-breaker.

    It is also made difficult by the lack of regulations around crypto activities. After years of being on the fringes of financial markets and being considered a “get-rich-quick” venture, crypto investments are becoming mainstream. But there is still little regulation to protect investors and ensure participants adopt practices that are in line with ESG values.

    Sceptics point out the major issues plaguing these markets including the use of cryptocurrencies and platforms for money-laundering, scamming, and price manipulation.

    So it is certainly hard to make a green case for crypto. But at the same time, it would be misleading to look only at one side of the coin. The fact is that crypto has a challenging but reachable path towards being widely accepted as green.

    Decarbonising the crypto industry

    First and foremost, the industry itself has recognised the need to change practices and processes to become more sustainable. In 2021, a significant number of players in the crypto industry signed the crypto climate accord (CCA) with the long-term target of decarbonising the global crypto industry by 2040.

    The CCA set two interim objectives. The first was the development of standards and technologies to have 100% renewably powered blockchains as soon as 2025. The second aim states that signatories should achieve net-zero emissions from electricity consumption by 2030.

    Recent developments in technology suggest the industry has started putting plans into action, with the appearance of sustainable tools and infrastructures.

    Several companies such as Mara and Argo are working on technologies like energy-efficient immersion cooling systems that significantly reduce the energy consumption required for mining.

    When cryptocurrency Ethereum changed its processes, it cut its energy use by close to 100%.
    rafapress/Shutterstock

    These companies are also developing systems that can recycle heat produced by digital assets and from data centres, and redirect it to provide energy to communities. The implementation of these technologies is facilitated by the relative mobility of crypto miners and the opportunities that some governments and regions offer to them.

    In addition, the crypto industry has seen the emergence of self-proclaimed environmentally friendly cryptocurrencies, such as Cardano public blockchain and Powerledger. These currencies use a less energy-intensive mechanism called “proof-of-stake” (POS) rather than POW.

    Unlike POW, POS miners must stake their holdings (the amount of cryptocurrency) when validating and verifying transactions and records. So if a miner tries to falsify records, they could potentially lose their stake. The process removes the need for the complex computer calculations and so cuts the energy use dramatically. In fact, in 2022, the cryptocurrency Ethereum transitioned from POW to POS, reducing its energy consumption by nearly 100%.

    The path towards green crypto is being eased by institutions like the Financial Stability Board, which is taking steps to provide frameworks for understanding, compliance and achievements of ESG goals and values.

    Together, these elements could open the door to a future where conscious investors can take a chance on cryptocurrencies.

    Jean Bessala 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.

    – ref. Can cryptocurrencies ever be green? – https://theconversation.com/can-cryptocurrencies-ever-be-green-238359

    MIL OSI – Global Reports –

    September 29, 2024
  • MIL-OSI Banking: Billie Eilish and Google Maps help fans travel sustainably

    Source: Google

    Video format not supported

    As part of her HIT ME HARD AND SOFT: THE TOUR, Billie Eilish is working with Google Maps to help fans make more sustainable choices when traveling to her upcoming shows.

    “I am so excited to see you all at my shows over the coming months, and for us to work together in reducing our collective footprint when it comes to transportation and what we eat,” Billie says. “Every action matters, no matter how big or small, and together we can truly begin to heal our beautiful planet. Thanks to Google Maps, everyone will have easy access to resources that will help you make great sustainable choices when you come to my shows. Thank you for caring. See you soon!”

    If you’re heading to one of Billie’s shows, check out these helpful tips:

    Check out Billie’s plant-based favs : For fans grabbing a bite before the show, Billie is sharing local plant-based eateries in various tour cities, including Atlanta, Baltimore, Chicago, Detroit, Los Angeles, Minneapolis, Nashville, New York, Philadelphia and Washington, D.C. Just search for one of these cities in Maps and scroll down to find Billie’s list of plant-based spots.

    You should see me on a bus : When you get directions, you can easily choose from many different travel options, like walking, cycling or even using scooter share. Additionally, if you’re looking for driving routes in tour cities like Berlin, L.A., Paris, Sydney and Toronto, Google Maps will automatically suggest walking or public transit options if they’re just as convenient and fast as driving.

    Choose fuel-efficient routes : Look for the leaf icon in driving directions to find routes that optimize for lower fuel or energy consumption. Since launching in late 2021 through the end of 2023, fuel-efficient routing in Google Maps is estimated to have helped reduce more than 2.9 million metric tons of greenhouse gas emissions — equivalent to taking about 650,000 fuel-based cars off the road for a year.

    We’re excited to support Billie’s commitment to sustainability and help her fans make more eco-conscious choices. You can learn about other ways Google is helping reduce carbon emissions with initiatives like Project Green Light and Project Contrails.

    P.S. Keep an eye out for Billie’s signature Blohsh near some of her concert venues on Street View while Google’s Pegman takes a vacation .

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI Banking: Apply to secure your company’s spot for the Project Starline x HP product

    Source: Google

    Secure your spot for the Project Starline x HP product

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    Apply to secure your company’s spot for the Project Starline x HP product

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    Sep 24, 2024

    [[read-time]] min read

    Here’s a sneak peek at the upcoming product and how companies can be among the first to try it.

    Maz Khorasani

    Group Product Manager, Project Starline

    Earlier this year, we announced Project Starline is coming out of the lab and into the world, with a focus on transforming the way distributed teams and individuals connect in the workplace. Through our partnership with HP, our technology will be commercially available starting in 2025.

    Today, we’re sharing a first look at the product design, built in collaboration with HP. The device’s design blends into meeting rooms, letting the experience take over so you can focus on what matters most: the other person. This helps make communication as natural as if two people were across from each other in the same room.

    Apply now to receive the Project Starline x HP product at launch

    We’ve seen incredible interest from companies eager to bring Project Starline to their employees. Starting today, companies can now apply to be among the first to receive the product when it launches in 2025. Through this program with HP, companies can sign up to secure their place in line and gain access to exclusive product information and updates.

    Learn more by visiting starline.google.

    POSTED IN:

    Let’s stay in touch. Get the latest news from Google in your inbox.

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI United Nations: Secretary-General’s remarks at the Sustainable Development Goals (SDGs) Moment Event [bilingual, as delivered; scroll down for all-English and all-French]

    Source: United Nations secretary general

    Excellencies, dear friends,  

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.

    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.  

    Gardons les Objectifs de développement durable en vie.

    Je vous remercie.

    ***
    [all-English]

    Excellencies, dear friends,

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.
       
    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    And the third development driver is peace.

    All our development plans are quickly erased by relentless conflicts that cause death, destruction, hunger, displacement and gender-based violence.

    And the resources we desperately need to feed and educate our children and build a sustainable planet for our young people are wasted on military expenditures.

    We need peace — from Gaza to Ukraine to Sudan and beyond.

    I call on global leaders to heal divisions, end conflicts, and invest in people and peace.

    Dear friends,

    In our world of unprecedented wealth, knowledge and technologies, there is no excuse.

    It’s time to keep the promises of the 2030 Agenda for Sustainable Development to end poverty, protect the planet, and leave no one behind.  

    Let’s keep the SDG commitment alive.

    Thank you.

    ***
    [all-French]

    Excellences, Chers amis,

    Les objectifs de développement durable incarnent une vision audacieuse. Ils constituent un engagement en faveur d’un avenir meilleur, plus sain, plus sûr, plus prospère et plus durable.

    Mais les vents contraires sont nombreux.

    Nous sommes mal partis pour atteindre plus de quatre sur cinq de toutes les cibles associées aux objectifs de développement durable.

    Outre les conséquences d’une pandémie mondiale auxquelles ils doivent faire face, de nombreux pays sont écrasés par un endettement massif, des liquidités limitées et des coûts d’emprunt très élevés.

    Les conflits, la faim, les inégalités et la crise climatique s’intensifient.

    En outre, l’architecture financière mondiale ne permet pas aux pays en développement de pouvoir compter sur suffisamment de financements et de liquidités et ne leur offre pas un filet de sécurité efficace pour tous.

    Le monde a pourtant les richesses, les technologies et le savoir-faire qu’il faut pour atteindre les objectifs de développement durable.

    Au mois de septembre dernier, le Sommet sur les objectifs de développement durable a permis de dégager un consensus autour d’un plan de relance des objectifs de développement durable, prévoyant des financements d’au moins 500 milliards de dollars par an pour les pays en développement – et de s’accorder sur le fait qu’il est nécessaire de réformer l’architecture financière mondiale.

    L’accent a été mis sur les transitions clés qui permettront d’accomplir un maximum de progrès dans toute une série de domaines : élimination de la faim, développement des énergies renouvelables, numérisation, éducation, protection sociale et travail décent, ainsi que de mettre fin à la triple crise planétaire, à savoir les changements climatiques, la pollution et l’appauvrissement de la biodiversité.

    Il a également été souligné qu’il était crucial de veiller à ce que les femmes, les filles et les jeunes aient leur place à la table des décisions.

    Aujourd’hui, vous entendrez des dirigeants et dirigeantes parler des progrès réalisés par leur pays dans tous ces domaines. Ils sont déterminés à faire bouger les lignes, en dépit des difficultés énormes auxquelles ils heurtent.

    Et nous célébrerons des réussites phares à l’échelle planétaire : depuis la réduction des taux de mortalité infantile jusqu’à l’amélioration de la prévention des nouvelles infections par le VIH, en passant par l’élargissement de l’accès aux énergies renouvelables et de l’accès au haut débit et par l’amélioration de la parité entre les femmes et les hommes dans les systèmes éducatifs.

    Alors que nous réfléchissons aux prochaines étapes, je vous invite à vous concentrer sur les trois moteurs du développement qui pourraient permettre d’accélérer le rythme des progrès.

    Tout d’abord, les financements.

    Dans de nombreux pays en développement, les investissements dans les domaines de la santé, de l’éducation et de l’alimentation sont exsangues à cause du niveau écrasant de la dette et de l’inefficacité des systèmes fiscaux.

    Dans le Pacte pour l’avenir, il est prévu d’appuyer le plan de relance des objectifs de développement durable et la réforme de l’architecture financière mondiale afin d’atténuer la crise de la dette que traversent de trop nombreux pays en développement.

    Il s’agit notamment de multiplier la capacité de prêt des banques multilatérales de développement afin de dégager davantage de ressources pour l’action climatique et le développement durable, et de modifier leur modèle de fonctionnement afin de mobiliser en masse des financements privés.

    Les Sommets sur le développement social et le financement auront lieu l’an prochain, et j’invite tous les pays à redoubler d’efforts pour faire avancer la réforme dans cette perspective.

    Le deuxième moteur du développement, c’est l’action climatique.

    J’invite les pays à adopter des plans d’action nationaux pour le climat qui soient ambitieux, en ne dépassant pas la limite des 1,5 degré, et en couvrant l’ensemble de l’économie et tous les secteurs.

    Il faudra pour cela aligner les stratégies énergétiques nationales sur l’objectif d’une élévation de la température mondiale ne dépassant pas les 1,5 degré, mettre fin aux subventions aux combustibles fossiles et fixer un prix pour le carbone.

    L’heure est venue d’éliminer progressivement mais rapidement les combustibles fossiles, au terme d’une transition équitable, et d’augmenter rapidement, avec discernement, les énergies renouvelables pour favoriser le développement durable, la sécurité énergétique et la prospérité économique.

    Nous devons répondre d’une manière juste et durable à la demande mondiale en minéraux essentiels, qui ont le potentiel de porter la révolution des énergies renouvelables. Et le Groupe chargé de la question des minéraux essentiels à la transition énergétique a formulé des recommandations à cette fin.

    Il est également essentiel de protéger les acquis du développement face aux bouleversements climatiques.

    Il faut par ailleurs que de nouvelles et généreuses contributions soient versées au Fonds pour les pertes et les préjudices.

    Les pays développés doivent honorer l’engagement qu’ils ont pris de doubler le financement de l’adaptation d’ici à 2025.

    Et il faut que les gouvernements se mettent d’accord sur un nouvel objectif ambitieux en ce qui concerne le financement de l’action climatique lors de la vingt-neuvième session de la Conférence des Parties à la Convention-cadre des Nations Unies sur les changements climatiques, y compris au sujet des sources de financement nouvelles ou novatrices.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.

    Gardons les objectifs de développement durable en vie.

    Je vous remercie.
    ***

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI USA: Rep. Banks Probes Air Force’s Race, Sex Quotas for Officer Applicants

    Source: United States House of Representatives – Congressman Jim Banks (IN-03)

    Today, Rep. Jim Banks (IN-03), Chairman of the House Armed Services Military Personnel Subcommittee announced his probe into the U.S. Air Force’s apparent use of race and sex-based quotas for its officer applicant pool. Find a copy of Chairman Banks’ letter to Assistant Secretary of the Air Force for Manpower and Reserve Affairs Alex Wagner here.

    Said Rep. Banks: “The Biden-Harris DOD’s use of race and sex based quotas is un-American and it should be illegal. It is difficult to understand how the Air Force could aim to cut recruiting of Americans who don’t check the right demographic boxes during the worst recruiting crisis in the history of the All-Volunteer Force. Republicans must work to put merit back at the center of our armed services. It is the right thing to do and it is the only way we will be able to compete with Communist China.”  

    Rep. Banks submitted amendments to the 2025 NDAA to end affirmative action at service academies and prohibit the consideration of race in military accessions.

    The full text of the letter is below:

    Dear Mr. Wagner,

    I’m writing to you regarding the United States Air Force’s apparent use of race and sex quotas for its officer applicant pool.

    On August 9, 2022, the office of the Secretary of the Air Force (SECAF) sent a memorandum titled “Officer Source of Commission Applicant Pool Goals.” The memorandum sets race and sex quotas, referred to as “Diversity & Inclusion goals,” for commissioned officer applicants to the Air Force at a proportion of 64 percent male and 36 percent female,  67.5 percent white, 15 percent Hispanic, 10 percent Asian, 14 percent African American, 1.5 percent American Indian/Native Alaskan, and 1 percent Native Hawaiian/Other Pacific Islander, and directs Air Force leadership to develop a plan to reach these goals within 30 days.

    Air Force documents from 2023 recently obtained by the Daily Caller News Foundation (DCNF) show that, in response to the August 2022 memorandum, the Air Force developed even more granular race and gender quotas. For example, a slide that was presented to the SECAF as part of its “Office Accession Applicant Pool Goals D&I Outreach Plan” includes a graph that shows white male ROTC officer applicants declining from about sixty percent in 2019 to a goal of approximately 43% by fiscal year 2029.

    Internal Air Force email correspondence obtained by the DCNF suggest that you personally advocated for presenting the SECAF with a specific timeline for implementing these quotas. An email relaying your feedback on the draft “Applicant Pool Goals D&I Outreach Plan” slide deck reads: “Mr. Wagner would like to know specifically and what we are doing for and the timeline to meet goals for each specific demographic, for example, black males, white females, etc.” Another email shows that efforts were made to delay the briefing “to give us more time to meet Mr. Wagner’s intent.”

    At a 2023 House Armed Services Committee Military Personnel Subcommittee hearing, I asked you if you would personally commit to opposing any effort to promote or recruit servicemembers based on their race or gender. You responded that, “I will commit to you to do everything possible to reach the broadest segment of America, whether it means increasing the number of women in our force or people of color, and I commit to you that we will continue those efforts, to have a more diverse force.”

    Please respond to the following questions no later than October 20, 2024:

    1. How does reducing the proportion of white male ROTC applicants by seventeen percent in ten years compatible with your stated goal of “reach[ing] the broadest segment of America”?
    2. Why would the Air Force advocate for reduced recruiting of certain demographics while it struggled to meet its recruiting goals?
    3. What is the difference between the “Diversity & Inclusion goals” you set and race and gender quotas?
    4. Do you believe that race- and sex-based discrimination should be tolerated within the United States Air Force?


    Sincerely,

    MIL OSI USA News –

    September 29, 2024
  • MIL-OSI Africa: Secretary-General’s remarks at the Sustainable Development Goals (SDGs) Moment Event [bilingual, as delivered; scroll down for all-English and all-French]

    Source: United Nations – English

    xcellencies, dear friends,  

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.

    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.  

    Gardons les Objectifs de développement durable en vie.

    Je vous remercie.

    ***
    [all-English]

    Excellencies, dear friends,

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.
       
    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    And the third development driver is peace.

    All our development plans are quickly erased by relentless conflicts that cause death, destruction, hunger, displacement and gender-based violence.

    And the resources we desperately need to feed and educate our children and build a sustainable planet for our young people are wasted on military expenditures.

    We need peace — from Gaza to Ukraine to Sudan and beyond.

    I call on global leaders to heal divisions, end conflicts, and invest in people and peace.

    Dear friends,

    In our world of unprecedented wealth, knowledge and technologies, there is no excuse.

    It’s time to keep the promises of the 2030 Agenda for Sustainable Development to end poverty, protect the planet, and leave no one behind.  

    Let’s keep the SDG commitment alive.

    Thank you.

    ***
    [all-French]

    Excellences, Chers amis,

    Les objectifs de développement durable incarnent une vision audacieuse. Ils constituent un engagement en faveur d’un avenir meilleur, plus sain, plus sûr, plus prospère et plus durable.

    Mais les vents contraires sont nombreux.

    Nous sommes mal partis pour atteindre plus de quatre sur cinq de toutes les cibles associées aux objectifs de développement durable.

    Outre les conséquences d’une pandémie mondiale auxquelles ils doivent faire face, de nombreux pays sont écrasés par un endettement massif, des liquidités limitées et des coûts d’emprunt très élevés.

    Les conflits, la faim, les inégalités et la crise climatique s’intensifient.

    En outre, l’architecture financière mondiale ne permet pas aux pays en développement de pouvoir compter sur suffisamment de financements et de liquidités et ne leur offre pas un filet de sécurité efficace pour tous.

    Le monde a pourtant les richesses, les technologies et le savoir-faire qu’il faut pour atteindre les objectifs de développement durable.

    Au mois de septembre dernier, le Sommet sur les objectifs de développement durable a permis de dégager un consensus autour d’un plan de relance des objectifs de développement durable, prévoyant des financements d’au moins 500 milliards de dollars par an pour les pays en développement – et de s’accorder sur le fait qu’il est nécessaire de réformer l’architecture financière mondiale.

    L’accent a été mis sur les transitions clés qui permettront d’accomplir un maximum de progrès dans toute une série de domaines : élimination de la faim, développement des énergies renouvelables, numérisation, éducation, protection sociale et travail décent, ainsi que de mettre fin à la triple crise planétaire, à savoir les changements climatiques, la pollution et l’appauvrissement de la biodiversité.

    Il a également été souligné qu’il était crucial de veiller à ce que les femmes, les filles et les jeunes aient leur place à la table des décisions.

    Aujourd’hui, vous entendrez des dirigeants et dirigeantes parler des progrès réalisés par leur pays dans tous ces domaines. Ils sont déterminés à faire bouger les lignes, en dépit des difficultés énormes auxquelles ils heurtent.

    Et nous célébrerons des réussites phares à l’échelle planétaire : depuis la réduction des taux de mortalité infantile jusqu’à l’amélioration de la prévention des nouvelles infections par le VIH, en passant par l’élargissement de l’accès aux énergies renouvelables et de l’accès au haut débit et par l’amélioration de la parité entre les femmes et les hommes dans les systèmes éducatifs.

    Alors que nous réfléchissons aux prochaines étapes, je vous invite à vous concentrer sur les trois moteurs du développement qui pourraient permettre d’accélérer le rythme des progrès.

    Tout d’abord, les financements.

    Dans de nombreux pays en développement, les investissements dans les domaines de la santé, de l’éducation et de l’alimentation sont exsangues à cause du niveau écrasant de la dette et de l’inefficacité des systèmes fiscaux.

    Dans le Pacte pour l’avenir, il est prévu d’appuyer le plan de relance des objectifs de développement durable et la réforme de l’architecture financière mondiale afin d’atténuer la crise de la dette que traversent de trop nombreux pays en développement.

    Il s’agit notamment de multiplier la capacité de prêt des banques multilatérales de développement afin de dégager davantage de ressources pour l’action climatique et le développement durable, et de modifier leur modèle de fonctionnement afin de mobiliser en masse des financements privés.

    Les Sommets sur le développement social et le financement auront lieu l’an prochain, et j’invite tous les pays à redoubler d’efforts pour faire avancer la réforme dans cette perspective.

    Le deuxième moteur du développement, c’est l’action climatique.

    J’invite les pays à adopter des plans d’action nationaux pour le climat qui soient ambitieux, en ne dépassant pas la limite des 1,5 degré, et en couvrant l’ensemble de l’économie et tous les secteurs.

    Il faudra pour cela aligner les stratégies énergétiques nationales sur l’objectif d’une élévation de la température mondiale ne dépassant pas les 1,5 degré, mettre fin aux subventions aux combustibles fossiles et fixer un prix pour le carbone.

    L’heure est venue d’éliminer progressivement mais rapidement les combustibles fossiles, au terme d’une transition équitable, et d’augmenter rapidement, avec discernement, les énergies renouvelables pour favoriser le développement durable, la sécurité énergétique et la prospérité économique.

    Nous devons répondre d’une manière juste et durable à la demande mondiale en minéraux essentiels, qui ont le potentiel de porter la révolution des énergies renouvelables. Et le Groupe chargé de la question des minéraux essentiels à la transition énergétique a formulé des recommandations à cette fin.

    Il est également essentiel de protéger les acquis du développement face aux bouleversements climatiques.

    Il faut par ailleurs que de nouvelles et généreuses contributions soient versées au Fonds pour les pertes et les préjudices.

    Les pays développés doivent honorer l’engagement qu’ils ont pris de doubler le financement de l’adaptation d’ici à 2025.

    Et il faut que les gouvernements se mettent d’accord sur un nouvel objectif ambitieux en ce qui concerne le financement de l’action climatique lors de la vingt-neuvième session de la Conférence des Parties à la Convention-cadre des Nations Unies sur les changements climatiques, y compris au sujet des sources de financement nouvelles ou novatrices.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.

    Gardons les objectifs de développement durable en vie.

    Je vous remercie.
    ***

    MIL OSI Africa –

    September 29, 2024
  • MIL-OSI Europe: G7 DFIs, MedAccess, EIB, and IFC Announce MoU for Surge Financing Initiative for Medical Countermeasures

    Source: European Investment Bank

    Today, participating G7 development finance institutions (DFIs), MedAccess, the European Investment Bank (EIB), and the International Finance Corporation (IFC) announced the signing of a memorandum of understanding (MoU) for the Surge Financing Initiative for Medical Countermeasures (MCMs). These DFIs are working closely with global and regional health organizations to establish the collaboration frameworks and innovative financing mechanisms needed to support a rapid and equitable pandemic response. Building on lessons from the COVID-19 pandemic, the initiative will focus on the procurement, production, and distribution of vaccines, therapeutics, diagnostics, and other MCMs for low- and lower-middle-income countries. The MoU builds on the Joint Statement of Collaboration announced at UNGA last year as well as the Chair Summary and Report that outlined collaboration and innovating financing options. This effort is a joint collaboration between participating G7 DFIs, MedAccess, EIB, and IFC, in accord with G7 Hiroshima Vision for Equitable Access to Medical Countermeasures launched at the 2023 Hiroshima Summit and reaffirmed at the 2024 Apulia Summit.

    The MoU was signed by the U.S. International Development Finance Corporation (DFC, USA), Cassa Depositi e Prestiti (CDP, Italy), British International Investment & MedAccess (UK), KfW & Germany’s Development Finance Institution DEG (Germany), AFD & Proparco (France), JICA (Japan), EIB (European Union), and IFC (World Bank Group). The MoU also has support from the Government of Canada and leading global and regional health organizations.  

    This work builds on ongoing collaboration across many DFIs on regional manufacturing in Africa. The ongoing Mpox public health emergency underscores the importance of this collaboration and need for surge financing. Leveraging this initiative, DFIs met with leading global health organizations including the World Health Organization, Africa Centres for Disease Control and Prevention (Africa CDC), Gavi, and the Coalition for Epidemic Preparedness Innovations (CEPI) on August 22, soon after Mpox was declared a public health emergency of international concern, to discuss response efforts and financing needs.

    “DFC is proud to support this first-of-its kind framework to ensure DFIs can act swiftly and cohesively to provide surge financing for life-saving products at the start of a health emergency. We expect to leverage this initiative for the Mpox response, working closely with our U.S. Government, development finance, and health partners More broadly, DFC’s investments in health services, supply chains, and technology all help bolster pandemic preparedness and health system resilience.” said DFC DCEO Nisha Biswal.

    “JICA believes this surge financing initiative will enhance coordination among development finance institutions and health organizations to achieve our commitment to work towards equitable access to safe, effective, quality-assured and affordable MCMs for health emergencies, which Japan announced as Chair of the 2023 G7 Summit in Hiroshima.   Leveraging this initiative and JICA’s own lessons learned from the COVID-19 pandemic, we will continue to support countries that have suffered from inequitable access to MCMs in the past,” said Chief Representative of JICA USA Office Satoko Tanaka.

    “IFC is proud to participate in this innovative framework to support medical countermeasure financing mechanisms, an important step for responding more effectively to future health crises. Collaboration between development finance institutions and global health partners is key to ensure coordinated efforts that strengthen healthcare systems and supply chains, enhancing pandemic preparedness.” said Vice President of Industries Mohamed Gouled.

    “DEG and KfW are committed to the UN Sustainable Development Goals, one of which is improving healthcare”, said Member of the DEG Management Board Monika Beck. “Therefore, we are delighted to support this initiative to provide financing for healthcare products during health emergencies, together with our trusted development finance partner institutions. We are convinced that it is essential to join forces to support improved access to critical health products when they are in short supply.”

    “Sustainable development is linked to equitable and rightful access to health and well-being. As CDP, we strongly support this initiative, which has been mentioned in the G7 Leaders’ final declaration last June at the Apulia Summit, that will foster the development of health systems across emerging economies, ensuring the foundation is laid for research, production, and distribution of essential medicines, diagnostic equipment, and vaccines. The COVID-19 pandemic underscored the critical need for every nation to be equipped with the tools to safeguard public health in times of crisis. Achieving the 2030 UN SDGs will require robust global collaboration, and we are proud to partner with G7 DFIs, the European Investment Bank, and the International Finance Corporation to help make this vision a reality.” said CDP Director of International Development Cooperation Paolo Lombardo.

    “The COVID-19 pandemic showed us the value of working together but also the need to coordinate our actions more closely,” said EIB Vice President Thomas Östros. “With joint efforts, we can multiply our impact and effectiveness, especially in meeting current challenges such as Mpox and in tackling future health emergencies. At the EIB, global health is a key priority, and we highly value this partnership.”

    “The MoU is an important step towards strengthening global health security and reducing the impact of future pandemics on vulnerable populations. This furthers our commitment, as the UK’s DFI, to invest in businesses that provide essential health services and products, including vaccines. It will ensure that future health crises can be mitigated to allow continued economic growth and social progress in low- and middle-income countries, said BII Chair Diana Layfield.

    “When critical health products are in short supply, fast and flexible capital can make the difference between life and death,“ said CEO of MedAccess Michael Anderson. “The COVID-19 pandemic showed how quickly global supply chains can grind to a halt when overwhelming demand meets scarce supply. This led to inequitable distribution of medical products, leaving millions of people at risk from the disease. Today’s announcement underlines our shared commitment to being prepared for future pandemics with the capital and financial tools to enable companies to meet large-scale, urgent demand for lifesaving products.”

    “A lesson learned from the COVID-19 crisis is that it is possible to mobilize significant public and private financial resources in turbulent times. Let’s use this experience of successful mobilization to anticipate effective pandemic preparedness. I believe this Memorandum of Understanding is one of the necessary steps towards better coordination among Public Development Banks to mobilize the private sector and demonstrates the catalytic power of joining forces for innovative financial instruments, as explored by Finance in Common and its Social Investment Coalition. Health is a common good, no one should be left behind in the face of a pandemic,” said Rémy Rioux, CEO of AFD Group (AFD, Proparco, and Expertise France) and Chairman of Finance in Common Summit in Paris.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment contributing to EU policy goals. The EIB’s activities focus on the following priority areas: climate and environment, development, innovation and skills, small and medium-sized businesses, infrastructure, and cohesion. The EIB works closely with other institutions and has provided total financing of more than € 42 billion for healthcare-related projects around the world since it started investing in the sector in 1997.  

    The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. 

    MIL OSI Europe News –

    September 29, 2024
  • MIL-OSI Europe: Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet

    Source: European Investment Bank

    EIB

    • The EIB and Kyiv have signed a €50 million agreement to modernise the city’s metro rolling stock with energy-efficient coaches.
    • The investment will help the Kyiv metro end its dependence on Russian-made spare parts, ensuring more resilient and reliable transport – essential for keeping the capital moving for both business operations and residents in their daily lives.
    • The €50 million, supported by the EIB’s EU for Ukraine Fund, is part of a larger €200 million loan package approved by the EIB and available to Kyiv for metro infrastructure upgrades.

    The European Investment Bank (EIB) and the city of Kyiv have signed a €50 million loan agreement to finance the purchase of new metro coaches. This initiative aims to modernise Kyiv’s metro fleet and provide reliable transport for millions of the capital’s residents. The agreement was signed today at EIB headquarters in Luxembourg during a visit by a delegation from the Kyiv City State Administration.

    Before the war, 80% of Kyiv’s metro fleet came from Russian manufacturers, making ending this reliance a strategic priority. With over 60% of the fleet past its operational life, the new funding will allow outdated coaches to be replaced with modern, energy-efficient alternatives from local or international suppliers. This aligns with the Kyiv City Development Strategy 2025 and Ukraine’s National Transport Strategy 2030, aimed at building a more sustainable and reliable public transport system.

    The €50 million, supported by the EIB’s EU for Ukraine Fund, represents the first tranche of a €200 million loan made available by the Bank, with this initial amount being provided exclusively for the purchase of new metro coaches for Kyiv. The remaining €150 million will be provided following an EIB-funded feasibility study on the viability of buying further new coaches versus modernising some of the existing fleet. The total funding will enable Kyivskyi Metropoliten, the municipal enterprise that operates the Kyiv metro system, to upgrade or replace between 120 and 160 metro coaches, enhancing the city’s transport infrastructure.

    Mykola Povoroznyk, First Deputy Head of Kyiv City State Administration, said, “In the midst of this large-scale invasion, Kyiv continues to develop. All areas of the city’s economy have been reconfigured to work in wartime conditions. This is not only about ensuring stable operation, but also about spurring development with modern technology. Foreign donors also take an active role here. The EIB is a long-standing, reliable partner of Kyiv. The project to modernise the capital’s metro rolling stock is important for our city, and we are very grateful to the EIB for supporting its implementation. The Kyiv metro is one of the most popular modes of transport in the capital. Millions of passengers use it every day. That is why, first and foremost, the purchase of modern, energy-efficient metro coaches means making passenger transport safer, and making better use of funds from the Kyiv city budget for rolling stock. It’s an urgent and high-priority issue today, taking into account the war conditions in Ukraine.”

    EIB Vice-President Teresa Czerwińska, who is in charge of Bank’s operations in Ukraine, said, “The EIB is steadfast in its commitment to supporting Kyiv and cities throughout Ukraine as they modernise their infrastructure, particularly in the face of ongoing wartime challenges. The Kyiv metro is a critical transportation lifeline, and this investment will greatly improve its reliability and resilience. By reducing reliance on Russian-manufactured rolling stock, spare parts and maintenance equipment, this collaboration marks an essential step toward enhancing Ukraine’s independence and aligning its transport systems with European standards. Reliable connectivity is vital for the economic growth and the well-being of the city’s residents.”

    The EIB’s continuing support for Kyiv and Ukraine

    The EIB remains committed to its long-standing relationship with the Kyiv authorities and is working closely on urban transport projects supported by EIB loans. These initiatives aim to improve the capital’s public transport fleet, having already delivered 20 new low-floor trams to Kyiv, with additional modern buses, funicular carriages and metro coaches forthcoming.

    Since the onset of Russia’s war in Ukraine, the EIB has provided more than €2 billion of financing for emergency repairs to the country’s ravaged infrastructure. Through its EU for Ukraine (EU4U) Initiative, coupled with its key role in implementing the European Union’s €50 billion Ukraine Facility, the EIB is strongly committed to stepping up its activities in line with the mandate given by EU leaders and in close cooperation with the European Commission, the European Parliament, EU Member States and international partners.

    Background information 

    EIB Global is the EIB Group’s new specialised arm devoted to increasing the impact of international partnerships and development finance outside the European Union. It is designed to foster strong, focused partnership within Team Europe and as part of the EU Global Gateway strategy, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world. 

    The EU for Ukraine Fund (EU4U) was established in 2023 as part of a larger EU for Ukraine initiative. The fund aims to accelerate the support of EIB Global for Ukraine’s most urgent infrastructure needs and to help sustain the country’s economy. It supports critical recovery and reconstruction projects involving both the public and the private sectors and improves access to finance for entrepreneurs in Ukraine. To date, the fund has secured over €420 million in pledges from the Member States.

    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    ©EIB
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    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    ©EIB
    Download original

    MIL OSI Europe News –

    September 29, 2024
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