Category: Climate Change

MIL-OSI United Kingdom: RAF Digby personnel to benefit from £65 million new accommodation
Source: United Kingdom – Executive Government & Departments

The Defence Infrastructure Organisation has awarded a contract to construct 276 single occupancy bedrooms at RAF Digby.
Artist’s impression of the new blocks. (Copyright Galliford Try/Arcadis)

The Defence Infrastructure Organisation (DIO) has awarded a £65 million contract for new Single Living Accommodation (SLA) at RAF Digby in Lincolnshire.

RAF Digby is the RAF’s oldest station, established in 1918, but is now operated by Strategic Command. The contract was awarded to Galliford Try with Arcadis as a Technical Support Provider and will see 4 new blocks of bedrooms created for junior ranks.

Each block contains a kitchenette, drying rooms, laundry rooms and social spaces, as well as 69 single ensuite rooms.

The buildings have been designed to be as carbon efficient as possible as part of MOD and wider government push towards net zero. They will benefit from solar panels and be heated using air source heat pumps.

Other energy efficiency measures include:

provision for a system to recover heat from the waste water in the showers

temperature-controlled heating zones

energy efficient LED lighting

electric car charging points

The contract value also includes provision of car parking, street lighting and landscaped outdoor communal areas. The contractors will be using local suppliers and labour as much as possible to benefit the local economy.

John Weatherby, DIO’s Principal Project Manager, said:

It’s fantastic to have reached this important milestone in our goal to transform the accommodation provision at RAF Digby with some high-quality new rooms for junior ranks serving at the station. We look forward to working with Galliford Try on the designs as we prepare for the start of construction in the coming months.

Wing Commander Neil Hallett, Station Commander RAF Digby, said:

This is an eagerly anticipated announcement welcomed by the service men and women stationed here. Having modern Single Living Accommodation will significantly improve the lived experience and there is buzz of excitement across the station following this contract award.

This investment into Royal Air Force Digby is a clear demonstration by the MOD of its intent to enhance the accommodation offer to our personnel while making buildings more sustainable.

Bill Hocking, Chief Executive of Galliford Try, said:

We are delighted to be continuing our partnership with the DIO to deliver this much-needed facility for those serving at RAF Digby. We have a strong track record in providing this kind of facility to the armed forces and look forward to ensuring the personnel receive the high-quality living spaces they deserve.

Construction is expected to start in March.

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Published 13 February 2025
MIL OSI United Kingdom –
February 13, 2025
MIL-Evening Report: Grattan on Friday: Albanese and Trump put Australia in holding patterns on election timing and tariffs

Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

When parliamentarians left Canberra on Thursday after the fortnight sitting, federal politics had the air of an uneasy waiting game.

Waiting for the election date, although the campaign has been running for months.

Waiting to know whether there will be a budget on March 25.

Waiting for capricious United States President Donald Trump to decide whether to grant Australia that keenly-sought exemption from his new 25% tariff on aluminium and steel imports.

Most immediately, waiting for the Reserve Bank to announce on Tuesday whether interest rates will be cut.

In policy terms, the government could be satisfied with this sitting week. Its Future Made in Australia legislation, with promised tax credits for major projects, passed. So too, did its sweeping new rules to put caps on political donations and spending.

The electoral reform legislation has been an extraordinarily drawn-out saga. Special Minister of State Don Farrell had originally hoped to introduce it by early 2024, with it operating at this election. But the process proved immensely complex, including for constitutional reasons. Finally the bill was introduced late last year, and has passed with virtually no time to spare. The measures won’t operate until the next parliamentary term.

Farrell brought to the task negotiating skills honed in a lifetime as a right wing factional power broker. He always wanted the deal to be done with the Liberals. He knew they would be the easiest dancing partners, because the changes are in the big parties’ mutual interests. But he also believed bipartisanship would reduce the chance of them being unravelled by a subsequent government.

The Coalition came on board – after the government made some concessions on donation and disclosure amounts – in the knowledge the reforms help put a floor under the two-party system. It’s obvious the Liberals want to limit the spread of the teal movement, that Climate 200 has helped finance.

But the potential for the increase in independents is a future danger also for Labor, which at this election is trying to win back Fowler, that fell in 2022 to independent Dai Le.

While the changes will limit the amount of money available to small players, they are a compromise and less unfair than some crossbenchers claim. Of course, judgements on fairness will differ according to where those making them are coming from. But it’s a substantial leap from urging newcomers should be encouraged into the system to believing the system should facilitate a financial auction for a seat.

As he basks in his victory of the electoral legislation Farrell, who is also trade minister, finds himself in a supporting role in a more immediately high-profile issue: the tariff battle with the US. Farrell is anxious to engage as soon as possible with his US counterpart, Commerce Secretary Howard Lutnick, preferably face-to-face. But he can’t officially do so until Lutnick is confirmed.

The tariff issue is being cast by the opposition as a test of Albanese’s ability to deal successfully with the Trump administration.

It’s an easy test to pose, but the government has done all it can to pursue a positive relationship with the administration. Notably, Deputy Prime Minister Richard Marles was in Washington a week ago for talks with new defence secretary Pete Hegseth, armed with a hefty cheque for some A$800 million as part of Australia’s contribution under the AUKUS deal.

The Albanese-Trump call this week, when the PM argued for a tariff exemption, apparently went well. But the outcome is unpredictable, as is the timing of a decision. Trump might have sounded encouraging but, as we’ve been seeing, there’s some strong opposition in the system to giving Australia special treatment.

A win for Australia would be a significant fillip for the PM; a Trump rebuff would be a corresponding blow. Timing is also important: it would not be good for the government if this issue was unresolved through the election campaign (even worse, if there was a bad result then).

The opposition seeks to grab headlines by calling for Albanese to rush to Washington. Even if practical that could be counterproductive; if the mission failed it would be a disaster. Voters wouldn’t give him too many marks for trying.

While Peter Dutton might have thought the arrival of Trump and a more general swing against “wokeism” would be helpful to him at the election, as the US scene becomes more unsettling, the risk for him is that some “soft” voters might decide now is not the time to change.

Though the tariff issue is important, the election contest is mainly on cost of living in all its manifestations.

Trump has the power to inflict a blow on Albanese on the tariffs, but the Reserve Bank is a much bigger player in the government’s thinking.

Expectations remain high of a rate cut next Tuesday. If that didn’t happen, it would be a serious setback for the government. The next chance for a cut would then be April 1.

It’s not that a cut would necessarily directly swing a lot of votes. The electorate’s mood is likely too negative for that. But the absence of the much-anticipated cut would badly mess with the government’s narrative that things are on the right track for people to become better off.

Many political stories have dominated this term. A lot could have been foreseen. One, however, was predicted by no one: the appalling antisemitism crisis that has overtaken us, and reached new lows this week. This crisis is the product of far away events triggering a local malignancy that was lurking largely unrecognised.

A parliamentary inquiry into antisemitism at universities said, in a report tabled this week, that it had found “a disturbing prevalence of antisemitism that has left Jewish students and staff feeling unsafe, hiding their identity on campus and even avoiding campus all together”.

On the same day that report was tabled, a horrifying video emerged of two nurses at a Sydney hospital, in an online discussion with Israeli influencer Max Veifer, spewing vile sentiments about killing Israeli patents. One of the two is an Afghan who became an Australian citizen several years ago. Dutton has seized on the video to call for a discussion “about the way in which the whole migration system works”.

Antisemitism has extended beyond being an appalling assault on Jews in our community – it is starting to undermine our institutions and society.

Michelle Grattan 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. Grattan on Friday: Albanese and Trump put Australia in holding patterns on election timing and tariffs – https://theconversation.com/grattan-on-friday-albanese-and-trump-put-australia-in-holding-patterns-on-election-timing-and-tariffs-249843

MIL OSI Analysis – EveningReport.nz –

February 13, 2025

MIL-OSI: KBC Group: Fourth-quarter result of 1 116 million euros

Source: GlobeNewswire (MIL-OSI)

KBC Group – overview (consolidated, IFRS)	4Q2024	3Q2024	4Q2023	FY2024	FY2023
Net result (in millions of EUR)	1 116	868	677	3 415	3 402
Basic earnings per share (in EUR)	2.75	2.14	1.59	8.33	8.04
Breakdown of the net result by business unit (in millions of EUR)
Belgium	487	598	474	1 846	1 866
Czech Republic	238	179	102	858	763
International Markets	175	205	178	751	676
Group Centre	215	-114	-77	-40	97
Parent shareholders’ equity per share (in EUR, end of period)	56.6	54.1	53.9	56.6	53.9

‘We recorded a net profit of 1 116 million euros in the last quarter of 2024. Compared to the result of the previous quarter, our total income benefited from several factors, including higher net interest income, increased insurance revenues and sharply higher net fee and commission income driven by an excellent business performance. This clearly illustrates how our integrated customer offering strongly contributes to income growth and income diversification. These items were partly offset by a decrease in trading & fair value income and lower net other income.

Our loan portfolio continued to expand, increasing by 2% quarter-on-quarter and by 5% year-on-year. Customer deposits – excluding volatile, low-margin short-term deposits at KBC Bank’s foreign branches – were up 2% quarter-on-quarter and 7% year-on-year, with the latter figure benefiting from the successful return of customer funds after the Belgian state note had matured in the previous quarter.

Operational expenses were up in the quarter under review but remained perfectly within our full-year 2024 guidance. Insurance service expenses were lower, as the previous quarter had been impacted by storms and floods in Central Europe (especially Storm Boris). Loan loss impairment charges, excluding the reserve for geopolitical and macroeconomic uncertainties, were down on the level recorded in the previous quarter, leading to a credit cost ratio of 16 basis points for full-year 2024, well below our guidance figure. Including the reserve for geopolitical and macroeconomic uncertainties, the credit cost ratio stood at 10 basis points for full-year 2024. We also recorded a one-off tax benefit of 318 million euros in the quarter under review, due to the forthcoming liquidation of Exicon (the remaining activities of KBC Bank Ireland).

Consequently, when adding up the four quarters of the year, our full-year net profit amounted to an excellent 3 415 million euros, slightly up year-on-year.

On the sustainability front, we are proud to be included for the third consecutive year in the CDP Climate A List. This recognition highlights KBC’s leading role in climate-related disclosures and actions.

Our solvency position remained strong, with a fully loaded common equity ratio of 15.0% at the end of December 2024. Our liquidity position remained very solid too, as illustrated by an LCR of 158% and NSFR of 139%. Our Board of Directors has decided to propose a total gross dividend of 4.85 euros per share to the General Meeting of Shareholders for the accounting year 2024. That amount includes 0.70 euro per share already paid in May 2024, reflecting the surplus capital above the 15% fully loaded CET1 threshold per end 2023 and 4.15 euros per share, of which an interim dividend of 1 euro per share was already paid in November 2024 and the remaining 3.15 euros per share to be paid in May 2025. When including the proposed dividend of 4.15 euros per share and additional tier-1 coupon, the pay-out ratio would amount to approximately 51% of 2024 net profit.

Lastly, we have also updated our short-term financial guidance. For 2025, we are aiming to achieve an annual growth rate of at least 5.5% for total income and an annual growth rate of below 2.5% for operating expenses excluding bank and insurance taxes. Furthermore, we also want to achieve a combined ratio of maximum 91% in non-life insurance.

In closing, I would like to sincerely thank all our customers, employees, shareholders and all other stakeholders for their trust and support, and assure them that we remain committed to being the reference in bank-insurance, innovation and digitalisation in all our home markets.’

Johan Thijs
Chief Executive Officer

Attachments

The MIL Network –

February 13, 2025

MIL-OSI Video: We’ll stop climate change, but ‘how soon’ is the life-and-death question – Al Gore

Source: World Economic Forum (video statements)

As the world record’s it’s highest ever average global temperatures, and the US, once again, quits the UN climate change pact, Al Gore is surprisingly upbeat on humanity’s ability to tackle global warming.

He spoke to Radio Davos at the Annual Meeting, where he presented a new system that tracks greenhouse gas emissions around the world, Climate TRACE.

Links:

Global Risks Report 2025: https://www.weforum.org/publications/global-risks-report-2025/

Climate TRACE: www.climatetrace.org/explore (https://www.climatetrace.org/explore)

Climate and Health Initiative: https://initiatives.weforum.org/climate-and-health/home

Centre for Nature and Climate: https://centres.weforum.org/centre-nature-and-climate/home

Related podcasts:

Can climate action survive geopolitical upheaval?: https://www.weforum.org/podcasts/radio-davos/episodes/gfc-geopolitics-climate-global-south/

Breathe! The cities working together on air pollution and climate change (https://www.weforum.org/podcasts/radio-davos/episodes/breathe-cities-air-pollution-jaime-pumarejo/) : https://www.weforum.org/podcasts/radio-davos/episodes/breathe-cities-air-pollution-jaime-pumarejo/

What are the ‘positive tipping points’ that could help us accelerate out of climate disaster? (https://www.weforum.org/podcasts/radio-davos/episodes/climate-change-positive-tipping-points-tim-lenton/) : https://www.weforum.org/podcasts/radio-davos/episodes/climate-change-positive-tipping-points-tim-lenton/

Al Gore on leadership skills, climate action and the ‘tipping point’ ahead (https://www.weforum.org/podcasts/meet-the-leader/episodes/al-gore-on-leadership-skills-climate-action-and-the-tipping-point-ahead/) : https://www.weforum.org/podcasts/meet-the-leader/episodes/al-gore-on-leadership-skills-climate-action-and-the-tipping-point-ahead/

Check out all our podcasts on wef.ch/podcasts:

YouTube: – https://www.youtube.com/@wef/podcasts

Radio Davos – subscribe: https://pod.link/1504682164

Meet the Leader – subscribe: https://pod.link/1534915560

Agenda Dialogues – subscribe: https://pod.link/1574956552

Join the World Economic Forum Podcast Club: https://www.facebook.com/groups/wefpodcastclub

https://www.youtube.com/watch?v=4OGQ38GkbRE

MIL OSI Video –

February 13, 2025
MIL-OSI United Nations: Airing climate justice in Costa Rica on World Radio Day

Source: United Nations 2

By Carla Garcia

13 February 2025 Climate and Environment

Quality radio remains ever universal, popular and more reliable in an era of artificial intelligence (AI) and social media, including in Costa Rica, where unique programming raises awareness and promotes public participation on climate decision making in Latin America, the theme of this year’s World Radio Day, marked annually on 13 February.

In a crucial year for climate action which, in accordance with the Paris Agreement, seeks to limit global warming to 1.5°C above pre-industrial levels, World Radio Day is dedicated in 2025 to highlighting the power of broadcasting to bring climate change issues to prominence.

That’s the goal of Climate Radio Route.

Radio democratises

Radio is considered the most reliable medium, according to the UN Educational, Scientific and Cultural Organization (UNESCO), which supports radio stations, like Climate Radio Route, in their journalistic coverage of this year’s theme.

Adrián Martínez, director of La Ruta del Clima – the Climate Route – a Costa Rican non-governmental organization (NGO) promoting public participation in climate and environmental decision-making that has been an observer, advocating at the UN climate summits since 2014.

“Radio in all its versions, whether digital or transmitted by antennas, is super important because it democratizes,” he told UN News . “Radio traditionally reaches places and communities where there is no Internet. It is also very generational. People interact with the radio day by day because it is ephemeral.”

Climate hits the radio waves

The Climate Route studies and exposes impacts “on the human rights of people in vulnerable communities in Latin America, especially in Central America, who have to deal with the adverse effects of climate change, for which they have very little responsibility but which is transforming their territories and ways of life”, Mr. Martínez explained.

With the aim of disseminating and raising awareness in society about these issues, in 2015 the organization created the Ruta del Clima Radio – the Climate Radio Route.

The programme was broadcast in the first years by a radio station of the University of Costa Rica and then by digital media through podcasts.

Communities can make their voices heard

“Communication that can have a massive reach has become very expensive and elitist,” Mr. Martínez said. “However, digital or traditional radio opens up that opportunity for communities, social organizations and movements to create their window and make their voices heard.”

UNESCO argues that beyond popularising environmental concepts, by disseminating information independent of economic, ideological and political powers, radio can condition listeners’ perception of climate change, and the importance given to the issue.

As such, radio can also contribute to shaping the public agenda and influencing policies in this regard.

© La Ruta del Clima

A training workshop on damage and loss in the community of Cahuita in Costa Rica.

Connecting climate change to people

The Climate Radio Route has focused a lot on connecting the issue of climate change with people, not only at the national level in Costa Rica, but throughout the Latin American region.

The programme discusses issues most relevant in climate governance and amplifies the work and experiences and opinions of colleagues, activists and experts from this region and others on climate issues.

“Citizens can have information and criteria beyond what is in the official media and thus can have a more comprehensive vision and promote the effective participation of our communities in climate decisions,” Mr. Martínez said.

Climate Route Radio productions are self-contained and include climate summits, community interviews and online interviews with people around the world in English or Spanish.

In line with the SDGs

The Climate Route underlines the importance of the 17 Sustainable Development Goals (SDGs), particularly those that refer to: climate action; peace, justice and solid institutions; and partnerships to achieve the goals.

Mr. Martínez points out that the NGO has worked with some UN agencies, such as the UN Children’s Fund (UNICEF) and the UN Development Programme (UNDP).

“We collaborate, for example, with the High Commissioner for Human Rights (OHCHR), on climate change issues, and we are always discussing with them and with the rapporteurs of the United Nations system or the OAS [Organization of American States] on environmental issues,” he said.

Presidency of Costa Rica

The impact of Storm Nate was catastrophic for Costa Rica, affecting 117 national roads and 113,000 hectares of agricultural production, damaging 423 bridges and causing more than $380 million in losses. (file)

Climate justice claims

Costa Rica is a country that for years has stood out for the ecological and climate awareness of its population and government, and the Climate Radio Route could have something to do with that awareness.

“We know that we have a very specialised community of listeners and have helped to interact with this technical group from various countries: politicians, activists or members of governments or national delegations,” Mr. Martínez said, adding that it has also helped to talk about issues of human rights, gender and community perspective as well as make constructive criticism.

This interaction, he adds, has made it possible to strengthen demands for climate justice.

© La Ruta del Clima

Adrián Martínez, director of La Ruta del Clima, facilitates a workshop on climate reparations at COP 29.

A ‘very special’ radio

“We are not a very large radio station, but perhaps very special in its message,” Mr. Martínez said. “I think that has opened doors for us to make our perspective known and create a link with this community that is sometimes difficult to engage.”

In this vein, he underlined the relevance of radio.

“It allows us to access communication in an oral way, which is sometimes very necessary to be able to have understanding,” he said. “The way we communicate orally is very different from the way we do in writing and sometimes we cannot communicate in the same way.”

Radio is essential to be able to generate that dialogue of ideas, emotions and feelings that can enhance decision making for peace and for the construction of a better relationship with the environment.

“I think we must continue to explore not only the use of radio, but also other media that connect us and understand the need to work together,” he said. “That is the important thing about the media: to be able to understand others and then to be able to take common action.”

MIL OSI United Nations News –

February 13, 2025
MIL-OSI USA: Chairman Capito Questions CCUS Leaders on USE IT Act Implementation, CCUS Project Permitting

US Senate News:

Source: United States Senator for West Virginia Shelley Moore Capito

[embedded content]

To watch Chairman Capito’s questions, click here or the image above.

WASHINGTON, D.C. – Today, U.S. Senator Shelley Moore Capito (R-W.Va.), Chairman of the Senate Environment and Public Works (EPW) Committee, led a hearing on advancing carbon capture, utilization, and sequestration (CCUS) technologies, and examining the implementation of the Utilizing Significant Emissions with Innovative Technologies Act or USE IT Act.

During the hearing, Chairman Capito questioned Kevin Connors, Assistant Director for Regulatory Compliance and Energy Policy at the Energy and Environmental Research Center; Dan Yates, Executive Director of the Ground Water Protection Council; and Jack Andreasen Cavanaugh, Manager of Carbon Management, U.S. Policy and Advocacy at Breakthrough Energy. In her questions, Chairman Capito asked about the pace of USE IT Act implementation, how to improve the permitting process for CCUS projects, and the importance of bipartisanship in these efforts.

HIGHLIGHTS:

USE IT ACT TASK FORCES: “The USE IT Act was signed in 2020. I also alluded to the two CCUS Permitting Task Forces that have been established, one for federal lands, and one for non-federal lands. I’m interested to know…now that these Task Forces have been chartered and are operating, do you believe that will make an impact on identifying opportunities to improve the permitting, through these Task Forces, as the law requires?”

NEED FOR RELIABLE ENERGY: “We have a repeating theme here, and I mentioned it in my in my opening statement of the reliabilities, because not only is this an intensive process, the process we see on AI and other things are putting great pressures on our potential for providing electricity for all of this.”

PERMITTING IS KEY: “The key to all of this, and it’s not the only key, but it’s the key to every one of these projects, is a permitting process that you can move along. You can’t permit a nuclear plant, you can’t permit a pipeline, you can’t permit a transmission line. You’re sort of, at every point of the project, all hands point to permitting, and so any help that you can give us with permitting, Class VI, and those pipelines, I think, will cross benefit all projects.”

IMPORTANCE OF BIPARTISANSHIP FOR PERMITTING AND CCUS: “As Senator Whitehouse said, this is going to be a bipartisan push. It’s the only way to do it effectively, to get it into legislation, because we see what happens with the regulatory environment, as the shifts of Administrations go from one to the other at the federal level.”

Click HERE to watch Chairman Capito’s opening statement.

Click HERE to watch Chairman Capito’s questions.

MIL OSI USA News –

February 13, 2025
MIL-Evening Report: Indigenous knowledge merges with science to protect people from fish poisoning in Vanuatu

Source: The Conversation (Au and NZ) – By Meg Parsons, Associate Professor in Historical Geography, University of Auckland, Waipapa Taumata Rau

Wikimedia/Louisa Cass/AusAID, CC BY-SA

Ciguatera fish poisoning is the world’s most frequently reported seafood-borne illness.

It poses a serious health risk to tropical coastal communities, with some of the highest rates reported in Vanuatu. But now, Indigenous knowledge provides crucial insights for predicting fish poisoning outbreaks.

Our study documents a collaboration between scientists and Indigenous knowledge holders on Vanuatu’s Ambae island. It offers a powerful new model designed to protect people’s health in vulnerable regions.

Ecological indicators and fish poisoning risk

Ciguatera poisoning occurs when people eat fish contaminated with ciguatoxins produced by marine algae that accumulate in reef-feeding fish. Symptoms can range from nausea and muscle pain to severe neurological effects. In some cases, the poisoning can lead to serious illness or even death.

For millennia, Ambae islanders have relied on their knowledge of the local environment to manage their lands and seas in a sustainable manner. They have observed ecological indicators, including environmental changes that precede ciguatera fish poisoning events, to monitor and respond to risks.

For instance, they note how heavy rains wash volcanic sediments into the ocean, triggering algal blooms that produce ciguatoxins. Likewise, jellyfish blooms and shifts in coral growth signal imbalances in the marine ecosystem, often preceding toxic fish contamination.

These ecological indicators, passed down through oral traditions, have guided community decisions about fishing practices and food consumption.

The islanders’ traditional observations are now being woven together with scientific data to create an early-warning system known as the Gigila Framework, named after a local term meaning “risk onset”, to aid public health responses.

Our research documents 14 key environmental indicators used by Ambae island communities. We cross-referenced these indicators with climate, geological and marine data to confirm their accuracy. By comparing Ambae islanders’ observations with scientific data, we identify which Indigenous indicators can be used to assess when and where ciguatera fish poisoning outbreaks take place.

Ambae islanders use ecological observations guide decisions about fishing practices and food consumption.
Allan Rarai, CC BY-SA

Lessons for other regions

The Gigila framework is a community-driven early-warning system designed to reduce the risk of people eating contaminated fish. It uses visual markers, such as dials, to indicate risk levels.

Village elders appoint local people to act as observers to track environmental changes. They then share their observations (such as jellyfish blooms) with government agencies.

The Gigila model helps local community members make informed decisions about if and where they go fishing. It also strengthens collaborations between Indigenous knowledge holders, scientists and medical professionals.

The approach makes health risk information more accessible and practical. Instead of replacing Indigenous knowledge, it seeks to empower and enhance it. It also helps to ensure that younger generations learn about it.

Challenges of working with different knowledge systems

The weaving together of Indigenous knowledge with scientific knowledge is not without hurdles.

Indigenous knowledge practices are deeply rooted in local culture, passed on through oral traditions and combined with lived experiences. Scientific research, in contrast, relies on standardised testing, numerical data and universal theories.

Unsurprisingly, miscommunication between scientists and Indigenous knowledge holders abounds. Scientists sometimes misinterpret and misunderstand Indigenous knowledge and treat it like data to be extracted and exploited. In doing so, Indigenous peoples’ sacred knowledge systems, cultural identities and ways of life are disrespected and marginalised.

However, the success of the Gigila framework shows that respectful collaborations between scientists and Indigenous knowledge holders are possible. At the heart of this collaboration is respect for Indigenous knowledge holders’ expertise.

Another vital component is that Indigenous communities are active participants in helping to create and maintain the early-warning system designed to protect their health. This approach highlights the strengths of combining different knowledge systems to address local environmental issues, which can be adapted to fit different problems and risks.

Local and global applications

The Gigila framework holds potential beyond Vanuatu. Many small island nations face similar challenges from fish poisoning. Climate change is making these risks worse by creating the environmental conditions that toxic algae favour.

Warmer sea temperatures, ocean acidification, more intense and frequent extreme weather events and changes in the distribution of fish species are all contributing to more frequent fish poisoning outbreaks worldwide, including in areas with no history of it.

This highlights the need for enhanced monitoring and management strategies to reduce the impacts on human health and communities that depend on fisheries.

Other communities could develop their own early-warning systems drawing on the Gigila framework. Globally, Indigenous peoples manage vast ecosystems. Their knowledge and environmental guardianship practices are critical for sustainability and environmental health, but are often sidelined in science and policy.

The Gigila framework highlights the continued relevance and importance of Indigenous knowledge and the need for Indigenous knowledge holders and scientists to work together in a respectful and equitable manner.

As climate change accelerates, partnerships between communities and researchers will be crucial. Governments should support locally led initiatives that promote the deployment of Indigenous knowledge with scientific expertise to produce solutions that are both effective and culturally grounded.

The Gigila framework offers a compelling example of what’s possible when different ways of knowing are woven together. By embracing these approaches, we can build stronger, more resilient and adaptable communities in the face of an uncertain future.

Allan Rarai receives funding from the Association of the Commonwealth Universities through the Ocean Country Partnership Programme research grant.

Meg Parsons 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. Indigenous knowledge merges with science to protect people from fish poisoning in Vanuatu – https://theconversation.com/indigenous-knowledge-merges-with-science-to-protect-people-from-fish-poisoning-in-vanuatu-249469

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-Evening Report: ‘A house battery you can drive around’: how a handful of Australians are selling power from their cars back to the grid

Source: The Conversation (Au and NZ) – By Scott Dwyer, Research Director, Energy Futures, University of Technology Sydney

24K-Productions

Our cars sit unused most of the time. If you have an electric vehicle, you might leave it charging at home or work after driving it. But there’s another step you could take. If you have a bidirectional charger, you can set it to sell power back to the grid when demand is high.

Fewer than ten people across Australia actually do this, because the technology – known as Vehicle-to-Grid (V2G) – is very new. To date, it only works with a single car model (Nissan LEAF) and a single charger (Wallbox Quasar 1). We’ve estimated the number of users based on sales of this charger. The chargers are expensive and there’s a thicket of regulations to navigate.

But that could soon change. Last year, Climate Change Minister Chris Bowen announced new Australian standards and communications protocols for bidirectional chargers in a bid to make it mainstream. Cheaper EVs and bidirectional chargers will make this more appealing.

If it takes off, V2G could become extremely useful to the power grid as a way to release power as required and stabilise the grid against fluctuations.

This week, Australia’s renewable energy agency released a V2G roadmap, which notes widespread uptake could “materially reduce electricity costs for consumers and accelerate national emissions reduction”.

To understand why people are using the technology and the challenges to do so, we interviewed five early adopters from New South Wales and South Australia. Our findings are released today.

A bidirectional charger is necessary to sell power back to the grid.
doublelee/Shutterstock

Setting up V2G isn’t easy

Our interviewees reported a long, complex journey to set up V2G. These early adopters had no playbook to follow, so the process was one of trial and error.

Some relied on professional networks or social media groups to gather information. They spent significant time and energy finding electricians, installers and charger manufacturers to set up their systems. Strata approvals were required. They also had to negotiate with power retailers and distributors.

Delays were common, especially when seeking approval from the energy distributor. Some interviewees reported delays of months to years.

Most interviewees had experience in a technical field such as engineering or technology. Some reported a significant learning curve, while others using new software from their retailer reported a smoother “set and forget” process.

So why do it? Our interviewees had several reasons, ranging from getting the most out of expensive assets (solar and the EV) to offsetting power bills entirely.

Four out of five interviewees reported making a small profit of about A$1,000 annually instead of a bill. Many wanted to be able to reduce dependence on the grid and reduce their environmental impact.

As one told us:

you originally think of it as a car you can also use to power your house. [But actually] it’s a house battery you can drive around.

Maximising savings

Typically, our interviewees plugged their car in at home during the day to charge from their rooftop solar. In the evenings when power prices peaked, they used an app to sell power back to the grid. This maximised their cost savings for charging the car battery and their earnings from the grid.

For instance, a V2G user was alerted by their energy retailer that power prices had spiked to over $20 per kilowatt hour – far above normal rates of 25–45 cents. They immediately set their car and home battery to sell power back to the grid. In two hours, they sold 28 kilowatt hours of power to the grid and made more than $560. As they told us: “I look forward to more such events.”

Our interviewees often monitored energy prices, solar output and car battery levels to optimise their output. To avoid their EV battery getting too low, they set a lower limit – say 30% of charge – after which their car would stop exporting power.

This photo shows the setup of one of our early adopter interviewees. Pictured is the Nissan LEAF and bidirectional charger. For years, this has been the only car model compatible with vehicle to grid, but this is set to change.
Author provided, CC BY-NC-ND

Is there a downside?

One of the main reasons people are sceptical of V2G is due to concern about accelerated degradation of the battery.

This is a common concern. But to date, there’s no consensus showing V2G shortens the battery life of EVs significantly. One recent study shows it increases degradation by 0.3% a year. But another showed V2G might actually extend battery life in some scenarios.

Last year, we surveyed more than 1,300 members of a motoring organisation about their view of V2G technology. We found battery warranty was a bigger concern than battery life. This is because most EV manufacturers other than Nissan don’t mention V2G in their battery warranties, leading drivers to believe they might void their warranty by using V2G.

Awareness of V2G technology is growing. The survey also found almost 40% of respondents were very or somewhat familiar with V2G, a jump from the 17% who reported familiarity in 2022. Among EV owners, almost 90% reported knowledge of the concept.

Moving beyond early adopters

For V2G to go mainstream, the process must be much simpler, cheaper and easier to set up.

To accelerate uptake, reliable, accessible information is essential.

Expanding government incentive programs to include bidirectional chargers would cut the upfront cost and make it more accessible.

Even within the EV supply chain, knowledge of V2G is limited. Car dealerships will need to know which models work with V2G.

Electricians may need specific training to install and maintain these chargers.

EVs are falling in price as manufacturers vie for market share and cheaper options become available. V2G capabilities might help boost sales for competing car companies.

As more motorists switch to EVs, interest in V2G will increase. While V2G can boost the appeal of EVs, there are others, such as Vehicle-to-Home (using your car to power your home during blackouts or to save money) and Vehicle-to-Load (using your EV to run power tools or appliances).

Each of these can help consumers get more value from the vehicles parked in driveways and garages.

Scott Dwyer receives funding from iMOVE Australia Cooperative Research Centre and the NRMA for this project.

Scott Dwyer receives funding from iMOVE Australia Cooperative Research Centre and the NRMA for this project.

Kriti Nagrath receives funding from iMOVE Australia Cooperative Research Centre and the NRMA for this project.

– ref. ‘A house battery you can drive around’: how a handful of Australians are selling power from their cars back to the grid – https://theconversation.com/a-house-battery-you-can-drive-around-how-a-handful-of-australians-are-selling-power-from-their-cars-back-to-the-grid-249696

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-Evening Report: ‘It’s a house battery you can drive around’ – how a handful of Australians are selling power back to the grid from their cars

Source: The Conversation (Au and NZ) – By Scott Dwyer, Research Director, Energy Futures, University of Technology Sydney

24K-Productions

Our cars sit unused most of the time. If you have an electric vehicle, you might leave it charging at home or work after driving it. But there’s another step you could take. If you have a bidirectional charger, you can set it to sell power back to the grid when demand is high.

Fewer than ten people across Australia actually do this, because the technology – known as Vehicle-to-Grid (V2G) – is very new. To date, it only works with a single car model (Nissan LEAF) and a single charger (Wallbox Quasar 1). We’ve estimated the number of users based on sales of this charger. The chargers are expensive and there’s a thicket of regulations to navigate.

But that could soon change. Last year, Climate Change Minister Chris Bowen announced new Australian standards and communications protocols for bidirectional chargers in a bid to make it mainstream. Cheaper EVs and bidirectional chargers will make this more appealing.

If it takes off, V2G could become extremely useful to the power grid as a way to release power as required and stabilise the grid against fluctuations.

This week, Australia’s renewable energy agency released a V2G roadmap, which notes widespread uptake could “materially reduce electricity costs for consumers and accelerate national emissions reduction”.

To understand why people are using the technology and the challenges to do so, we interviewed five early adopters from New South Wales and South Australia. Our findings are released today.

A bidirectional charger is necessary to sell power back to the grid.
doublelee/Shutterstock

Setting up V2G isn’t easy

Our interviewees reported a long, complex journey to set up V2G. These early adopters had no playbook to follow, so the process was one of trial and error.

Some relied on professional networks or social media groups to gather information. They spent significant time and energy finding electricians, installers and charger manufacturers to set up their systems. Strata approvals were required. They also had to negotiate with power retailers and distributors.

Delays were common, especially when seeking approval from the energy distributor. Some interviewees reported delays of months to years.

Most interviewees had experience in a technical field such as engineering or technology. Some reported a significant learning curve, while others using new software from their retailer reported a smoother “set and forget” process.

So why do it? Our interviewees had several reasons, ranging from getting the most out of expensive assets (solar and the EV) to offsetting power bills entirely.

Four out of five interviewees reported making a small profit of about A$1,000 annually instead of a bill. Many wanted to be able to reduce dependence on the grid and reduce their environmental impact.

As one told us:

you originally think of it as a car you can also use to power your house. [But actually] it’s a house battery you can drive around.

Maximising savings

Typically, our interviewees plugged their car in at home during the day to charge from their rooftop solar. In the evenings when power prices peaked, they used an app to sell power back to the grid. This maximised their cost savings for charging the car battery and their earnings from the grid.

For instance, a V2G user was alerted by their energy retailer that power prices had spiked to over $20 per kilowatt hour – far above normal rates of 25–45 cents. They immediately set their car and home battery to sell power back to the grid. In two hours, they sold 28 kilowatt hours of power to the grid and made more than $560. As they told us: “I look forward to more such events.”

Our interviewees often monitored energy prices, solar output and car battery levels to optimise their output. To avoid their EV battery getting too low, they set a lower limit – say 30% of charge – after which their car would stop exporting power.

This photo shows the setup of one of our early adopter interviewees. Pictured is the Nissan LEAF and bidirectional charger. For years, this has been the only car model compatible with vehicle to grid, but this is set to change.
Author provided, CC BY-NC-ND

Is there a downside?

One of the main reasons people are sceptical of V2G is due to concern about accelerated degradation of the battery.

This is a common concern. But to date, there’s no consensus showing V2G shortens the battery life of EVs significantly. One recent study shows it increases degradation by 0.3% a year. But another showed V2G might actually extend battery life in some scenarios.

Last year, we surveyed more than 1,300 members of a motoring organisation about their view of V2G technology. We found battery warranty was a bigger concern than battery life. This is because most EV manufacturers other than Nissan don’t mention V2G in their battery warranties, leading drivers to believe they might void their warranty by using V2G.

Awareness of V2G technology is growing. The survey also found almost 40% of respondents were very or somewhat familiar with V2G, a jump from the 17% who reported familiarity in 2022. Among EV owners, almost 90% reported knowledge of the concept.

Moving beyond early adopters

For V2G to go mainstream, the process must be much simpler, cheaper and easier to set up.

To accelerate uptake, reliable, accessible information is essential.

Expanding government incentive programs to include bidirectional chargers would cut the upfront cost and make it more accessible.

Even within the EV supply chain, knowledge of V2G is limited. Car dealerships will need to know which models work with V2G.

Electricians may need specific training to install and maintain these chargers.

EVs are falling in price as manufacturers vie for market share and cheaper options become available. V2G capabilities might help boost sales for competing car companies.

As more motorists switch to EVs, interest in V2G will increase. While V2G can boost the appeal of EVs, there are others, such as Vehicle-to-Home (using your car to power your home during blackouts or to save money) and Vehicle-to-Load (using your EV to run power tools or appliances).

Each of these can help consumers get more value from the vehicles parked in driveways and garages.

Scott Dwyer receives funding from iMOVE Australia Cooperative Research Centre and the NRMA for this project.

Scott Dwyer receives funding from iMOVE Australia Cooperative Research Centre and the NRMA for this project.

Kriti Nagrath receives funding from iMOVE Australia Cooperative Research Centre and the NRMA for this project.

– ref. ‘It’s a house battery you can drive around’ – how a handful of Australians are selling power back to the grid from their cars – https://theconversation.com/its-a-house-battery-you-can-drive-around-how-a-handful-of-australians-are-selling-power-back-to-the-grid-from-their-cars-249696

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-OSI United Nations: United nations Pavilion at Expo 2025 Osaka, Kansai: 35 UN entities, 15 Secretariat Departments, Offices to Gather under Theme “United for a Better Future”
Source: United Nations General Assembly and Security Council

Two months from today, the United Nations will welcome visitors to a dedicated pavilion in the Empowering Zone of Expo 2025 in Osaka, Kansai, Japan under the theme “United for a Better Future”. The United Nations Pavilion is proud to host exhibits and programming that represent the work of 35 UN entities and 15 UN Secretariat departments and offices.

The United Nations pavilion will feature highlights of eight decades of impact, current efforts to achieve the Sustainable Development Goals (SDGs), and to address global challenges and humanitarian crises, as well as a vision of a sustainable future that is possible only through collective action and multilateral collaboration. The UN Pavilion will also host special weekly exhibits and events aligned with the Expo’s theme weeks, United Nations international days and other priorities to promote sustainable development, human rights, climate action and peace and security. Visitors can also purchase UN and SDG-related merchandise at the giftshop located inside the pavilion.

Confirmed participating UN entities include:
- United Nations Secretariat
  - Department of Global Communications
  - Department of Economic and Social Affairs
  - Department of Peace Operations
  - Department of Political and Peacebuilding Affairs
  - Development Coordination Office
  - Office for the Coordination of Humanitarian Affairs
  - Office of the United Nations High Commissioner for Human Rights (OHCHR)
  - United Nations Global Compact Office
  - United Nations Mine Action Service
  - United Nations Office for Disarmament Affairs
  - United Nations Office for Disaster Risk Reduction
  - United Nations Office on Drugs and Crime (UNODC)
  - United Nations Office for Outer Space Affairs
  - United Nations Road Safety Fund / Special Envoy for Road Safety
  - United Nations Youth Office
- Food and Agriculture Organization of the United Nations (FAO)
- International Atomic Energy Agency (IAEA)
- International Civil Aviation Organization (ICAO)
- International Fund for Agricultural Development (IFAD)
- International Labour Organization (ILO)
- International Maritime Organization (IMO)
- International Organization for Migration (IOM)
- International Telecommunication Union (ITU)
- International Trade Centre (ITC)
- Joint United Nations Programme on HIV/AIDS (UNAIDS)
- United Nations High Commissioner for Refugees (UNHCR)
- Secretariat of the United Nations Framework Convention on Climate Change
- Statistical Institute for Asia and the Pacific)
- United Nations Capital Development Fund (UNCDF)
- United Nations Children’s Fund (UNICEF)
- United Nations Development Programme
- United Nations Educational, Scientific and Cultural Organization (UNESCO)
- United Nations Entity for Gender Equality and the Empowerment of Women (UN-Women)
- United Nations Environment Programme (UNEP)
- United Nations Human Settlements Programme (UN-Habitat)
- United Nations Industrial Development Organization (UNIDO)
- United Nations Institute for Training and Research (UNITAR)
- United Nations Office for Project Services (UNOPS)
- United Nations Population Fund (UNFPA)
- United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA)
- United Nations Research Institute for Social Development (UNRISD)
- United Nations University (UNU)
- United Nations Volunteers programme (UNV)
- United Nations Water*
- Universal Postal Union (UPU)
- World Tourism Organization (UN Tourism)
- World Food Programme (WFP)
- World Health Organization (WHO)
- World Intellectual Property Organization (WIPO)
The UN Pavilion will also host prominent guest speakers, including senior UN officials, leading experts, celebrities and advocates, who will share their insights and experiences on global challenges and solutions.

“In the year that the United Nations will turn 80 years old, the UN Pavilion presents key milestones since 1945 that have reshaped values and the world as we know it. We will also showcase examples of the UN in our daily lives and a vision of a world in which everyone thrives in peace, dignity and equality on a healthy planet,” said Maher Nasser, Commissioner-General of the United Nations at Expo 2025. “It is our hope that our pavilion will serve as a dynamic platform for learning, collaboration and inspiration for action.”

The video interview of Mr. Nasser is available at www.youtube.com/watch?v=5MBS_DOB_k8.

Expo 2025 Osaka, Kansai, will run from 13 April to 13 October and is expected to attract over 28 million visitors. The UN Pavilion will be open every day from 9:30 a.m. to 9 p.m.

For additional information about the United Nations presence at Expo 2025 in Osaka, Kansai, Japan, please contact Naomi Ichikawa, UN Department of Global Communications (New York), at email: nichikawa@un.org.

__________

* UN Water is a coordination mechanism, comprising United Nations entities (members) and international organizations (partners) working on water and sanitation issues.

MIL OSI United Nations News –
February 13, 2025
MIL-OSI New Zealand: Northland Regional Council $600k of Climate Resilient Communities Funding to be allocated

Source: Northland Regional Council

$600k of Climate Resilient Communities Funding to be allocated

The Northland Regional Council is finalising a list of more than 20 projects around the region which will share $600,000 of funding designed to help build climate resilience.

During the council’s Long-Term Plan 2024-2034 consultation, the region’s communities had emphasised the importance they placed on council taking a leading role in helping to build that resilience.

That had resulted in the council establishing a $600,000 fund to support communities to prepare for the growing effects of climate change and the natural hazard risks our region faces.

The council – which had an overwhelming response with 96 applications requesting $3.2 million in funding – is currently finalising more than 20 projects that met the fund criteria and aimed to build community capacity and strengthen connections to build community resilience.

Successful applications are expected to be made public shortly.

Scholarship applications close

Applications for Northland Regional Council’s (NRC) Tū i te ora Scholarship have closed.

NRC says it received more than 20 applications for its scholarship, which recognises and supports students to undertake study, research or training that relates to council’s environmental and regulatory functions.

Council will award the six scholarships in May, with each recipient set to receive $4000 to assist with study costs, plus paid full-time work experience from mid-November 2025 to mid-February 2026.

24/7 NRC Incident Hotline

The Northland Regional Council operates a 24/7 incident hotline (0800) 504 639.

You can call this number to report all pollution and environmental incidents, including oil or chemical spills, water pollution, dangerous boating, and navigation hazards and breakdowns of navigation lights.

Northland Regional Council on social media

You can follow council on its social channels:

MIL OSI New Zealand News –

February 13, 2025
MIL-OSI USA: Waller, Reflections on a Maturing Stablecoin Market

Source: US State of New York Federal Reserve

Thank you for inviting me to speak today about stablecoins, an important innovation for the crypto ecosystem with the potential to improve retail and cross-border payments.1 A little over three years ago, I outlined my views on the benefits and risks of stablecoins.2 I can think of no better place than this conference to discuss the maturing stablecoin market and examine potential challenges that could impede stablecoins from reaching their full potential.
For the purposes of this speech, I define stablecoins as a type of digital asset designed to maintain a stable value relative to a national currency and backed at least one-to-one with safe and liquid assets. Specifically, a pool of assets is held in reserve so that stablecoins can be redeemed for traditional currency in a timely fashion.
Stablecoins—as with any means of payment—must demonstrate 1) a clear use case and 2) a clear commercial case to be economically viable. These terms are often conflated, but they are different, and both are necessary. Having a use case is how you attract consumers and businesses, while a business model is necessary for issuers of stablecoins to continue operating. As private sector innovators look to expand on the use cases of stablecoins and seek to achieve scale, what might emerge as challenges or roadblocks? This is a question I will explore today, including from a public sector perspective. Of course, as a policymaker, I am not here to endorse any of these use cases or business models, and what follows is not advice or recommendations. Rather, I am discussing them to underscore the varied ecosystem that policymakers must understand.
I will begin by explaining some of the use cases of stablecoins, including those that are well established and those that are still emerging. The primary use of stablecoins is as a safe crypto store of value. In the early days of crypto trading, buying and selling crypto meant trading one crypto-asset for another crypto-asset. As we have seen, crypto prices can fluctuate substantially, which means crypto-assets that are not anchored as stablecoins suffer from price risk. All financial markets crave the existence of a safe, low-risk asset which allows traders to move out of risky positions into safe ones where the safe asset price is known and stable. The beauty of financial innovation is that if a market demands such an asset, someone will figure out how to supply it. Thus, stablecoins were born.
A stablecoin’s value is tied to a national fiat currency, with the U.S. dollar being the fiat currency of choice for most stablecoins. In this sense, stablecoins are synthetic dollars. In our everyday life, the dollar serves as a medium of exchange and a unit of account. By their tie to the dollar, stablecoins are the medium of exchange and unit of account in the crypto ecosystem.
But how does one trade a “real” dollar for a “synthetic” dollar, like a stablecoin? Exchanges already allowed agents to move in and out of the crypto ecosystem but doing so took time and money. Stablecoins provided a marketplace solution to this problem—a means to represent dollars on exchanges so that transactions could be carried out more quickly and efficiently. Currently, stablecoins are involved in over 80 percent of trading volume on major centralized crypto exchanges.3
A second stablecoin use case is providing a means to access and hold U.S. dollars. Today, around 99 percent of stablecoin market capitalization is denominated in U.S. dollars, and the vast majority of digital asset trades are priced in U.S. dollars.4 This is no surprise given the primacy of the U.S. dollar in global finance and trade, and I believe that stablecoins have the potential to maintain and extend the role of the dollar internationally.5 U.S. dollar stablecoins could be particularly appealing to those in high inflation countries or to those without easy or affordable access to dollar cash or banking services.
A third use case is cross-border payments. For example, we are hearing increased industry focus on the “stablecoin sandwich” model of cross-border payments, in which fiat currency in one country is converted first into a U.S. dollar stablecoin, then that stablecoin is transferred to another individual, and then finally the stablecoin is converted back into the local fiat currency at its destination. This has the potential to reduce the complexity of a series of correspondent banking networks, improving transparency, cost, and timeliness. As this use case develops, it is critical that market participants implement all anti-money laundering and relevant consumer safeguards.
The last use case I will describe is in retail payments. At present, stablecoin use for retail payments is very limited. However, I am seeing a lot of new, private sector entrants looking to find ways to support the use of stablecoins for retail payments. For example, firms that provide point-of-sale technology are acquiring innovative fintechs or developing their own capabilities to accept stablecoins for retail purchases. This provides consumers with yet another option. Firms are also looking to incorporate stablecoins—and crypto more broadly—into peer-to-peer payment apps.
It remains to be seen whether stablecoins will scale for retail payment use cases. Such an evolution would require both a substantial number of consumers to shift their preferences toward using stablecoins and a significant number of businesses to make necessary investments to receive payments via stablecoins. We know that consumer retail payments behavior is sticky, and when behavior does change, it generally happens over a long period. If retail payments use cases do increase, it would probably take years to have a significant impact. That said, if stablecoins reduce transaction fees or allow merchants to attract customers, then merchants could have an incentive to accept them. Ultimately, the market will sort out whether consumers and businesses have the incentives to use stablecoins in this way.
In addition to stablecoins having clear cut use cases, issuers must have a viable business model. To cite one famous example, Red Lobster’s endless shrimp deal was popular with customers, but it did not turn out to be a sustainable model for the restaurant chain. Let me describe what I think are the incentives for stablecoin issuers, but I am here today to learn more.
To date, most stablecoin issuers appear to generate revenue primarily by earning higher returns on their reserve assets than they incur in expenses. They issue a zero-interest liability and use the proceeds to acquire interest earning assets, thereby profiting from the spread. As with bank deposits, the interest rate environment will have a significant effect on the profitability of firms issuing stablecoins. Higher interest rates generally mean higher rates of return on reserve assets, which generates revenue for the issuer. However, higher interest rates also have the potential to make non-interest bearing assets less attractive for consumers to hold. That said, users who hold stablecoins as an accessible, safe store of U.S. dollar denominated value may not be particularly sensitive to the interest rate environment, a phenomenon we already see today with some holders of physical U.S. dollars.
An additional way stablecoin issuers can generate revenue is through fees. This could include charging minting and burning fees, which occur when a customer acquires a new stablecoin for a real dollar or wants to redeem it for real dollars. This is very much like the foreign exchange market in fiat currencies that most of us are familiar with. Alternatively, as occurs with most payments firms, the issuer could earn money from transaction fees.
Finally, stablecoin issuers may use stablecoins as part of a broader strategy to attract customers to whom they may sell other products and services. In that case, stablecoins could be seen as a “loss leader” to entice customers to use other products or services offered by the stablecoin issuer that are much more profitable.
With the exception of the last example, the viability of the other business models will depend on the ability of stablecoins to scale as a means of payment and on how consumers and businesses respond. For example, if the stablecoin issuer decides to pass through interest earnings on its assets, that will make the stablecoin more attractive, but it will reduce the profits from issuing a stablecoin. The smaller the interest rate spread, the more important scale becomes. For the fee-based models, free entry into this space will drive down fees as it does in any other market, which will reduce the revenue from issuing a stablecoin.
Within this market, scale is important for achieving certain use cases as well as satisfying certain business models. For example, stablecoins are unlikely to become a viable option for retail payments if consumers question whether stablecoins will be widely accepted as a means of payment, while stablecoin issuers cannot generate significant revenue from interest on backing assets or fees without scale. I call this the “Field of Dreams” problem—if you build it, will they come?
With all of that in mind, let’s now dive into some of the potential challenges or roadblocks that will need to be overcome for stablecoins to achieve their full potential.
The first theme I will explore is one that I have discussed in the past—the safety and soundness of stablecoins and the need for a clear regulatory regime for stablecoins in the United States.6 Stablecoins are forms of private money and, like any form of private money, are subject to run risk, and we have seen “depegs” of some stablecoins in recent years. Additionally, all payment systems face risk of failure, and stablecoins are subject to clearing, settlement, and other payment system risks as well. At the same time, it is important to note that the risks faced by stablecoin issuers are not the same risks faced by banks. The stablecoin market would benefit from a U.S. regulatory and supervisory framework that addresses stablecoin risks directly, fully, and narrowly. This framework should allow both non-banks and banks to issue regulated stablecoins and should consider the effects of regulation on the payments landscape, including competing payment instruments.
I want to reiterate that I think it is important that U.S. legislation makes provision for the supervision and regulation of stablecoin issuers that is proportionate to the risks they pose, without stifling their innovative potential while the marketplace is still developing. I believe in the power of the private sector to develop solutions that benefit businesses and consumers, with the job of the public sector to create a fair set of rules for market participants to operate within, including guardrails that ensure safety for consumers and the financial system as a whole. Having a level of certainty is important for businesses looking to invest in new products and services as well as for consumer confidence and assurance.
Fragmentation is the next theme I’ll explore, first from a technical perspective. Currently, several popular blockchain networks are designed as distinct from one another. Firms looking to scale across blockchains are seeking technical solutions to achieve cross-chain interoperability. Will this ultimately prove efficient, especially in a world with multiple stablecoin providers operating within potentially different combinations of blockchain networks? Or will there be multiple, competing ecosystems, for example where one stablecoin dominates on certain blockchains, and another stablecoin dominates on others? Alternatively, a stablecoin market featuring a high degree of interoperability could support a variety of stablecoin issuers and blockchain networks, providing consumers a choice in stablecoins and technologies. It is not yet clear how these dynamics will ultimately impact business models and use cases for stablecoins, but it is an issue that bears watching as firms work to scale and mature their businesses.
Fragmentation around the use and acceptance of stablecoins will also act as an impediment to scaling and will impact how stablecoin use cases develop. As I noted, stablecoins will prove useful as a means of payment insofar as holders of a specific stablecoin expect that others will accept them. The more people will accept a stablecoin, the more convenient a stablecoin will be. For the retail payment use case, how easy will it be for me as a consumer to pay with stablecoins at the point of sale, either in-person or online? From the merchant perspective, what incentives will firms have to accept stablecoins? Similarly, for cross-border payments, how widely will different firms (and their banking partners) transact in stablecoins? And, more broadly, could stablecoins have the potential to recreate and potentially exacerbate the current challenges associated with correspondent banking, further fragmenting the marketplace? Or could stablecoins mature in such a way to change the market structure of cross-border payments?
Fragmentation in regulation also has the potential to hold stablecoins back from reaching their full potential. As I already discussed, the stablecoin market does not have a clear regulatory framework in the United States. While there have been efforts to develop some international standards, the emergence of different global stablecoin regulatory regimes creates the potential for conflicting regulation domestically and internationally.7 This regulatory fragmentation could make it difficult for U.S. dollar stablecoin issuers to operate at a global scale. And as I have noted, scale is vital for any means of payment to achieve its full potential.
For example, under Europe’s Markets in Crypto-Assets Regulation, stablecoin issuers can earn interest on their reserve assets as a business model, whereas other regulatory models being discussed would require reserves for stablecoins deemed systemically important to be held as non-interest-bearing central bank deposits, limiting stablecoin issuers into a specific business model. Domestically, state regulators have been key players in the development of the stablecoin market, and several states are in the process of developing state laws or finalizing new regulations related to stablecoin issuance. There is a risk that state regulations may conflict, which could prevent the use of the same stablecoin across all states and reduce stablecoin scalability. As with the United States’ dual banking system, a complementary framework with state and federal regulators working together can allow innovation to flourish while achieving some of the benefits of scale that come with a harmonized set of market rules.
Different regulatory regimes are also creating separate reserve asset and redemption requirements for stablecoin issuers—a further potential regulatory regime fragmentation. In Europe, non-systemic stablecoin issuers are required to hold a minimum of 30 percent of their backing assets in bank deposits, and regulators have further proposed concentration limits per bank.8 This differs from the requirements of some U.S. state-regulated issuers.9 To operate at a global scale, stablecoin issuers would therefore have to issue the same stablecoin under multiple regimes with separate reserve asset and redemption requirements. Will this be efficient and ultimately prove workable if the number of regulatory regimes domestically and internationally continue to grow? Will we expect a stablecoin issuer to rebalance its reserves when a stablecoin is transferred between users in different countries or U.S. states? Creating consistency at the federal level could allow federal authorities to negotiate with foreign counterparts to ensure global regulations serve the interests of U.S. consumers and businesses and allow the U.S. to be a regulation setter for an asset class primarily denominated in our national unit of account.
In conclusion, my hope is that the stablecoin market will grow or diminish on the merits of their benefits to consumers and the broader economy. For the private sector, that means continuing to develop innovative solutions that fit a market need while building sustainable business models. And for the public sector, it means setting clear and targeted legal and regulatory frameworks and coordinating those frameworks across states and national boundaries to enable private sector innovation at a global scale.
Thank you.

1. Thank you to Marc Rodriguez, Alex Sproveri, Sonja Danburg, and David Mills of the Federal Reserve Board for their assistance in preparing this text. The views expressed here are my own and not necessarily those of my colleagues on the Federal Reserve Board. Return to text
2. See Christopher J. Waller, “Reflections on Stablecoins and Payments Innovations” (speech at “Planning for Surprises, Learning from Crises” 2021 Financial Stability Conference, Cleveland, OH, November 17, 2021). Return to text
3. See “Share of Trade Volume by Pair Denomination,” The Block, last modified February 10, 2025, https://www.theblock.co/data/crypto-markets/spot/share-of-trade-volume-by-pair-denomination. Return to text
4. See “DefiLlama-Defi Dashboard,” https://defillama.com/. Return to text
5. See Christopher J. Waller, “The Dollar’s International Role” (speech at “Climate, Currency, and Central Banking,” Nassau, BS, February 15, 2024). Return to text
6. See Chrisopher J. Waller, “Reflections on Stablecoins and Payments Innovations.” Return to text
7. See Committee on Payments and Market Infrastructures and Board of the International Organization of Securities Commissions, Application of the Principles for Financial Market Infrastructures to stablecoin arrangements (PDF) (Basel: Bank for International Settlements, July 2022). Return to text
8. See Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937. See European Banking Authority, Draft Regulatory Technical Standards to specify the highly liquid financial instruments with minimal market risk, credit risk and concentration risk under Article 38(5) of Regulation (EU) 2023/1114 (PDF) (Paris: European Banking Authority, June 2024) and European Banking Authority, Draft Regulatory Technical Standards to further specify the liquidity requirements of the reserve of assets under Article 36(4) of Regulation (EU) 2023/1114 (PDF) (Paris: European Banking Authority, June 2024). Return to text
9. For example, see “Virtual Currency Guidance,” New York State Department of Financial Services, last modified June 8. Return to text

MIL OSI USA News –

February 13, 2025
MIL-OSI USA: $150M for Climate Resiliency on SUNY & CUNY Campuses

Source: US State of New York

Governor Kathy Hochul today announced $150 million in climate resiliency grants  to make New York State’s public college campuses greener, more resilient to severe weather and more energy efficient. Supported by funding from the $4.2 billion Clean Water, Clean Air and Green Jobs Environmental Bond Act of 2022, the State University of New York (SUNY) is receiving $100 million for clean energy projects, including the installation of a thermal energy network at SUNY Buffalo, and the City University of New York (CUNY) is receiving $50 million for solar, energy storage, and heat pump projects on three campuses as part of a comprehensive plan to reduce CUNY’s carbon footprint.

“New York’s higher education institutions play a significant role in leading by example to help advance a cleaner, greener future,” Governor Hochul said. “The $150 million in new investments from the Environmental Bond Act will allow SUNY and CUNY to take a significant step forward in electrifying campuses and integrating cleaner energy solutions to reduce pollution and help New York’s colleges become more energy efficient.”

SUNY projects funded by the Environmental Bond Act include:

Binghamton University: Binghamton University will install thermal energy networks and building heat pump technology on its campus. The funding will help implement construction of new high-efficiency networked water source heat pump systems in select buildings currently operating on approximately 20-year-old, lower-efficiency chillers. The new systems will effectively lower energy use by 45 percent, operating costs by $300,000, greenhouse gases by 1,100 metric tons (based on current grid emission factors), and other pollutants for the benefit of the campus and the larger community.

University at Buffalo: UB will construct the first of many energy hubs, all of which are needed to phase out fossil fuel-based systems and replace aging, lower efficiency systems with on-site electrical systems that lower greenhouse gas and other pollutants and improve operating efficiencies. This first high-efficiency energy hub will service a network of up to five buildings on UB’s South Campus.

SUNY Oswego: The campus will construct a geoexchange field system for a geothermal network to improve operating efficiencies, lower operating costs, and reduce greenhouse gas and other pollutants for the benefit of the campus and larger community. The project will result in an extensive underground utility infrastructure and central plant and building-level equipment conversions, which are required to continue converting the campus plant to sustainable measures.

Stony Brook University: The Environmental Bond Act investment will provide design and construction for multiple ground and rooftop solar voltaic (PV) arrays to improve community air quality and public health and decarbonize the Long Island electric grid. The resulting on-site renewable power generation will provide operational efficiencies, energy use reduction, greenhouse gas and pollutant reductions, as well as to provide additional capacity for any potential future campus growth.

CUNY projects funded by the Environmental Bond Act include:

City College of New York: Parking lot solar canopies on the south campus will be paired with battery storage, which will support flexible demand management and electric vehicle (EV) chargers will be added to help electrify campus transportation. Rooftop solar will also be deployed. Heat pumps will be installed to electrify heating and cooling for the library and other spaces in the North Academic Center, and also in the science building to heat building domestic hot water and pool water. Heat Pumps are three to four times more efficient than a boiler as they move existing heat, rather than creating heat through combustion.

Brooklyn College: Geothermal energy will be tapped as bore holes are drilled to provide ground source renewable heating and cooling for the adjacent West End Building, which houses student clubs, the film department, a testing center, and computer labs, and is a vital hub of student activity. Rooftop solar and EV charging stations will be installed at James Hall and West Quad, promoting EV adoption while supporting the college’s fleet electrification goals.

Hunter College: This project initiates the hydronic conversion transformation of North Hall energy systems away from inefficient steam and standalone window air conditioning. Energy efficient hot and chilled water from the central plant will replace an antiquated steam system. This step toward electrification will reduce baseload energy use and cut use of fossil fuels, ensuring a better-controlled, state-of-the-art, sustainable learning environment for students.

SUNY Chancellor John B. King Jr. said, “With thanks to Governor Hochul, SUNY’s campuses are leading the way in advancing sustainability and addressing climate change. This Bond Act funding for four SUNY projects will help achieve New York State’s ambitious decarbonization goals and build a more sustainable future.”

CUNY Chancellor Félix V. Matos Rodríguez said, “By helping CUNY reduce the carbon footprint of our campuses, curb our consumption of fossil fuels and harness our capacity to aid sustainable energy production, Governor Hochul is enabling the University to promote prudent environmental stewardship. The Environmental Bond Act investments announced today will help CUNY play a key role in the development of a resilient, responsible, and resourceful New York.”

New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “Governor Hochul’s commitment in the State of the State to advance a greener future through decarbonization is bolstered with this new $150 million Clean Water, Clean Air and Green Jobs Environmental Bond Act investment for innovative clean energy projects at SUNY and CUNY campuses across the state. Through the State’s Environmental Bond Act investments, New York is supporting advanced thermal energy networks, EV charging infrastructure, and other technologies that reduce pollution, lower operating costs, and create far-reaching benefits for schools and their surrounding communities.”

New York League of Conservation Voters President Julie Tighe said, “As the state transitions to a clean energy economy, it is critical that the government not just pass laws, but that they also lead by example. That is exactly what Governor Hochul is doing by allocating Bond Act funds to decarbonize SUNY and CUNY campuses, including by building out thermal energy networks and investing in solar and EV charging infrastructure at some of the most polluting buildings the state owns. We applaud the Governor for reducing New York’s carbon footprint while also helping seed one of the most promising clean energy solutions we have for our large buildings and campuses.”

Building Decarbonization Coalition New York Director Lisa Dix said, “We applaud the Governor for this critical step forward in implementing the Decarbonization Leadership Program and the SUNY and CUNY campus decarbonization action plans to advance Thermal Energy Networks across our state. This funding and continued leadership is key to getting fifteen Thermal Energy Networks, shovel-ready projects by 2026. Thermal Energy Networks will advance new economic development, modernize our universities, create union jobs, help avoid costly grid upgrades, slash pollution in our communities and help achieve New York’s climate goals – all while building a thriving clean energy economy.”

New York State AFL-CIO President Mario Cilento said, “Thanks to Governor Hochul’s leadership, the potential of the Environmental Bond Act is now becoming a reality. These projects will be built union with robust labor standards, including prevailing rate, labor peace, and Buy American. As I said in 2022, when the delegates to the New York State AFL-CIO convention voted overwhelmingly to support the Environmental Bond Act ballot referendum, working together, we will decarbonize while establishing a solid foundation for union careers.”

New York State Building Trades President Gary LaBarbera said, “As New York looks to progress towards its climate goals, we must continue to fund clean energy initiatives that not only modernize our key institutions but also create thousands of good-paying careers for working class people. The investments from the Environmental Bond Act will help our SUNY and CUNY campuses operate in a greener and more environmentally friendly manner, generate more accessible pathways to the middle class for hardworking New Yorkers, and contribute to improving the experiences of everyone who attends and works at these colleges. We applaud Governor Hochul for supporting this investment and look forward to playing a role in pushing these climate adaptions forward.”

New York State continues to advance resiliency initiatives and investments that are helping to protect communities. Today’s announcement complements Governor Hochul’s Executive Budget proposal to invest more than $1 billion to help fund a more sustainable and affordable future. This ambitious proposal is the single-largest climate investment in state history, generating thousands of jobs, slashing energy bills for households, and cutting harmful pollution.

The funding to SUNY and CUNY demonstrates the ways New York State’s continued commitment can be achieved, by deploying renewable energy, advancing clean transportation and building decarbonization, and exploring emerging technologies that can support decarbonization goals and economic development. The Executive Budget also includes $108 million for climate resiliency initiatives that support coastal resiliency and additional funding for Green Resiliency Grants and continues a record $400 million for Environmental Protection Fund programs that include measures to adapt and mitigate climate impacts. Progress also continues in administering the $4.2 billion Clean Water, Clean Air and Green Jobs Environmental Bond Act, which has allocated approximately $1.25 billion, or 25 percent, of Bond Act funds to date.

New York State’s Climate Agenda

New York State’s climate agenda calls for an affordable and just transition to a clean energy economy that creates family-sustaining jobs, promotes economic growth through green investments, and directs a minimum of 35 percent of the benefits to disadvantaged communities. New York is advancing a suite of efforts to achieve an emissions-free economy by 2050, including in the energy, buildings, transportation, and waste sectors.

MIL OSI USA News –

February 13, 2025
MIL-OSI United Nations: Policies to Bolster Social Resilience in Context of More Frequent, Complex Crises among Topics Discussed, as Commission for Social Development Continues Session

Source: United Nations General Assembly and Security Council

During one of two round-table discussions held today by the Commission for Social Development, panelists emphasized the importance of governance, preparedness and investment in human capital to strengthen “social resilience” — the ability of individuals and societies to prevent, absorb, adapt and recover positively from crises.

The Commission — established in 1946 by the Economic and Social Council as one of its functional commissions — advises the United Nations on social development issues, and its sixty-third session will run through 14 February.

The first panel discussion, titled “Policies to bolster social resilience in the context of more frequent and complex crises”, featured presentations that together offered a comprehensive understanding of the multidimensional nature of resilience and the policy actions needed to reinforce it.

“The sixty-third session of the Commission for Social Development comes at a pivotal time as we reflect on the legacies of the World Summit for Social Development held three decades ago in Copenhagen,” said Moderator Angela Kawandami, Permanent Secretary at the Ministry of Community Development and Social Services of Zambia. While the principles of social inclusion, poverty eradication and equity remain as vital as possible, the global landscape has transformed significantly, presenting new and compounding challenges that demand urgent and innovative solutions today, she said, adding that crises — more frequent, interconnected and complex, spanning geopolitical, economic, health and environmental spheres — are testing the resilience of societies and institutions.

Meir Bing, Chief Executive Officer at the Open University of Israel, presented a case study of building resilience in minority populations in his country, where the number of minority students in higher education more than doubled in the last decade. He said that a year ago, he was General Director of the Ministry of Social Equality in charge of minorities. Of the 10 million people in his country, 2 million are religious and ethnical minority groups, including Muslim, Christian and Druze, he said, adding that many of them are young and face socioeconomic challenges.

He highlighted the three keys to building resilience in vulnerable populations: fostering trust between Government and social and business sectors; enhancing infrastructure and public services; and creating communities. Sharing how educational and other infrastructure and socioeconomic projects are expanded in the country’s local communities, he said that the percentage of students from minority groups in bachelor’s degree programmes increased from 10 per cent in 2010 to nearly 20 per cent in 2023.

Marek Kamiński, explorer and founder of the Kaminski Foundation, said that during his expeditions, he learned that physical strength isn’t enough, stating: “The real fight happens in the mind, with fear and doubt. We all need to ask, are we strong enough inside to face the challenges ahead?” Today’s world needs practical solutions to help people handle crises. That’s why he created LifePlan Academy, a programme that teaches mental resilience, stress management and how to adapt to challenges. It’s a practical tool that works in any country with any culture, he said, stressing: “With the right tools and support, anyone can overcome challenges and achieve their goals.”

Michael Woolcock, Lead Social Scientist in the Development Research Group at the World Bank, said that development policies are as effective as the shared legitimacy they enjoy. Development policies will struggle, where societal groups despise one another, where elite factions use lies and violence to secure power, where there is little coherence or trust between local and national authority, and where Governments reject international law and covenants to which they are a signatory. “So all these nice policies that we come up with — unless they can engage with these local contexts and imbue them with the legitimacy they need to do their difficult work — are probably going to struggle,” he said.

Obiageli Ezekwesili, President of Human Capital Africa, founder of the School of Politics Policy and Governance, and Senior Economic Adviser at the Africa Economic Development Policy Initiative, said that “democracy is in crisis more than it had ever been”. The power of society to be resilient depends on how everyone feels cared for within society. Today’s democratic processes are exclusionary in many ways. That’s because the tiny fraction of people who exercise political leadership in many countries have become monopoly democrats. “We must fix politics,” she said, noting a strong correlation between the quality of politics and economic performance. “Let’s keep an eye on the United States of America,” she added.

Michael Woolcock, Lead Social Scientist, World Bank, served as moderator for the second panel, which focused on “Universal rights-based social protection systems that adapt to evolving risks and support social resilience”. “For our present purposes, we are going to recognize that social resilience refers to the capacity of individuals and societies to prevent, resist, absorb, adapt, respond and recover positively, efficiently and effectively when faced with a wide range of long-term prospects for sustainable development, peace and security, human rights and well-being for all,” he said before commencing the panel discussion.

Danilo Türk, President of Club de Madrid and former President of Slovenia, stressed the need to make sure that social development is guided in a way that promotes the full realization of human rights. “This means adopting an approach which anticipates and addresses the vulnerabilities of people,” he went on to stress. That must include the consequences of climate change and its effect on populations, especially those vulnerable to displacement. Innovations like digital cash transfers, mobile health services and data driven risk assessment can significantly improve service delivery, particularly for marginalized and remote populations. Social protection systems must consider the interests of vulnerable segments of societies, particularly women, youth, older people and persons with disabilities.

Angela Chomba Kawandami, Permanent Secretary at the Ministry of Community Development and Social Services, Zambia, said that social protection systems are central to addressing vulnerabilities, reducing poverty and mitigating the impacts of various risks such as climate change, pandemics and economic crises. “Social protection systems in Zambia are designed to address both short-term needs and long-term vulnerabilities,” she added. These systems include cash transfers, food assistance and social insurance schemes. “The goal is to ensure that individuals, especially those in our rural areas, older persons, persons with disabilities and other vulnerable groups, have access to basic services and support mechanisms,” she emphasized. Zambia’s social protection programmes aim to reduce vulnerability by providing financial support to households living below the poverty line. Climate change is also included into Zambia’s protection system as the phenomenon poses an increasing threat with more frequent droughts and floods.

Héctor Ramón Cárdenas Molinas, Executive Director of the Technical Unit of the Social Cabinet of the President of Paraguay, said that extreme weather events cause major damage and loss. “Most of them are linked to climate events,” he said, noting their high economic and social impact. Exposure depends not only on geographic location but also on the development policies and adaptation measures taken to mitigate the risks of climate change. “It is absolutely essential that we integrate policies and strategies that promote sustainable and resilient development,” he said. Underscoring other initiatives in health, education and poverty eradication, he said Paraguay aims to ensure that services meet very high standards in terms of efficiency and effectiveness. “The main challenge remains financing,” he added.

Edgilson Tavares de Araújo, Ministry of Development and Social Assistance, Brazil, said that Brazil’s social protection system is based on the principles of universality, equity and democracy. “Since 2023, we have seen a drop of 84 per cent in severe food insecurity, according to a 2024 UN survey,” he added. With the creation of a global alliance to fight hunger and poverty, Brazil hopes to continue to make progress. A strong State working with a healthy civil society must be resilient to truly transform society. “We are increasing our budgetary commitments and broadening our global alliance to combat hunger and poverty,” he went on to say. Brazil is committed to providing decent employment and “an economy of solidarity” which can help build social resilience. “Being protected means having someone to rely on,” he added.

MIL OSI United Nations News –

February 13, 2025
MIL-OSI Submissions: Japan’s Expertise in International Assistance: Leveraging Experiences Gained in Southeast Asia to Aid Ukraine -The Shared Future of Asia and Japan

Source: Japan Connect

Diplomacy / InternationalAsia & Pacific

In 2022, Russia invaded Ukraine. The Russian military has continuously been launching missiles and artillery attacks on civilian facilities, causing great damage to the lives of the Ukrainian people. Japan is offering various assistance through public and private endeavors to rebuild lives, drawing on experiences gained through providing aid to countries in Southeast Asia.

One such example is a water supply aid project. As part of the government’s gratuitous recovery assistance, Japan is sending mobile water purification systems and ready-to-assemble water supply tanks to Ukraine’s cities where water supply networks were destroyed.

As part of this initiative, Nihon Genryo Co., Ltd., a manufacturer of water treatment systems headquartered in Kawasaki, Kanagawa Prefecture, delivered four Mobile Siphon Tanks, a mobile water purification system, to Ukraine’s capital Kyiv and the southern port city Odesa. The system, developed by Nihon Genryo, does not require filter replacements, which were necessary in previous water purification systems. The company also invited water supply technicians in Kyiv to Japan and conducted training on water purification technology.

Nihon Genryo has been deeply involved in Southeast Asia. In 1982, it delivered fully automatic dust scrapers to the Bangkhen Water Treatment Plant in Bangkok, Thailand, to help remove impurities and provide safe, treated water. It also delivered Mobile Siphon Tanks to cities in Laos and Vietnam as part of Japan’s Official Development Assistance (ODA) and is training local staff on how to use them. In Laos, the company carried out emergency water supply operations during flood disasters in 2013 and 2020. In the Philippines, it provided drinking water to regions without access to a water supply by using river water. It also carried out emergency water supply operations at the request of the Japanese government in the wake of disasters such as Super Typhoon Haiyan in 2013 and Super Typhoon Rai in 2021. In this way, the company gained extensive experience assisting the lives and lifestyles of people in Southeast Asia, which is now being leveraged to help Ukraine, halfway across the globe in Europe.

In addition to water supply assistance, Japan also has international experience in providing aid to people with disabilities. Since Russia’s invasion, over 300,000 Ukrainian troops and civilians have become disabled as a result of injuries. However, medical equipment is growing outdated due to a shortage of funds, and providing assistance is an urgent matter. Japan provided rehabilitation equipment and welfare vehicles to 11 facilities in Kyiv Oblast through the Japan International Cooperation Agency (JICA). In December 2024, a commemorative ceremony was held in Kyiv. Ruslan Kravchenko, the governor of Kyiv Oblast, expressed his gratitude, saying, “We thank the Japanese government and its people for their extensive support. This will allow us to greatly improve the conditions for people with disabilities.”

Japan has also been committed to providing aid to people with disabilities in Southeast Asia. Gratuitous financial assistance was offered to Indonesia, for example, by providing mobile rehabilitation equipment in 1989 and taking part in a project to construct a vocational rehabilitation center for people with disabilities in 1995. In addition to dispatching Japanese specialists and Japan Overseas Cooperation Volunteers (JOCVs) to countries like Thailand and the Philippines, Japan also invites trainees from various countries to Japan through JICA initiatives to help raise rehabilitation standards for people with disabilities.

Removing landmines is another urgent issue that must be addressed in Ukraine. It is believed that the Russian military may have planted mines in an area of up to 150,000 square kilometers, which amounts to over a fourth of the country’s land. The Japanese government has been engaged in mine clearance efforts in Cambodia for many years. Drawing on this experience, it is offering comprehensive support to Ukraine by providing resources developed by Japanese companies, such as mine detectors, mine removers and systems using artificial intelligence (AI) to identify areas where mines have been planted, in addition to training on how to prevent injuries and offering aid to victims.

Japan is also working on assisting Ukrainian soldiers and civilians who survived mines but lost their limbs.

Instalimb, Inc. is a startup company headquartered in Tokyo that utilizes digital technology to create prosthetic legs. The company uses a special scanner to capture the shape of a patient’s leg and creates a 3D-printed prosthetic based on data designed by a prosthetist using software.

The CEO of the company, Yutaka Tokushima, said in an interview with the Japanese broadcasting network TBS Television, “One (of the merits) is that we can create prosthetics very quickly. Where it usually takes a month, we can do it in a day (at the quickest) and significantly lower the cost. Another merit is that one professional prosthetist can make many prosthetics.”

Prosthetic legs cost around 400,000 yen in Japan, but Tokushima says the company can reduce it to one-tenth of that amount.

Instalimb has its roots in the Philippines. After working at a computer-related company and as a designer of industrial products, Tokushima joined the JOCV program under JICA and was posted to the Philippines in 2012.

Later, with support from JICA and the Philippine government, he established a laboratory equipped with a 3D printer and laser cutter for industrial development. After he learned that many people in the Philippines needed prosthetic legs as a result of diabetes, he took on the challenge of developing high-performance yet affordable prosthetics. Over the course of four years, he developed a technology that specialized in creating prosthetic legs using 3D printing. These prosthetics are now available to people in the Philippines who cannot afford conventional ones.

As he works on creating prosthetics in Ukraine, Tokushima says, “Many people want to recover and rebuild their lives, but they can’t work because they don’t have access to prosthetic legs. So I want to give them hope, first and foremost. Our current mission is to provide prosthetics to each and every person who needs them as we aim for the ultimate goal of helping all the people of Ukraine regain their bright future.” A Japanese company, born in the Philippines, is now striving to help the wounded people of Ukraine.

Japan is offering aid to Ukraine in a diverse range of fields including infrastructure, education, agriculture, economy, machinery and culture—and much of this expertise comes from the experience Japan gained in Southeast Asia.

By Akio Yaita
Journalist. Graduated from the Faculty of Letters at Keio University. After completing his doctorate at the Chinese Academy of Social Sciences, he worked as a correspondent for the Sankei Shimbun in Beijing and as Taipei bureau chief. Author or co-author of many books.

*The stories and materials above are provided by JIJI.com or AFPBBNews. Feel free to feature these stories in your own media.

About “Japan Connect”
Bringing you the latest stories about Japan.
This new service is provided by AFPBB News, which AFP launched in 2007.

MIL OSI – Submitted News –

February 13, 2025

MIL-OSI New Zealand: $14 million boost for sports facilities across Tāmaki Makaurau from Auckland Council

Source: Auckland Council

A top-of-the-line climbing structure for Auckland tamariki and rangatahi to use and enjoy is one step closer thanks to Auckland Council’s Sport and Recreation Facilities Investment Fund.

Six sports organisations across Tāmaki Makaurau will receive a slice of more than $14.3 million from the council to help develop their facilities to meet the sport and recreation needs of Aucklanders now and in the future.

Councillor Angela Dalton, chair of the Community Committee, says she’s pleased the council is able to help sports organisations build for the future.

“Auckland Council has allocated substantial funding to a variety of sporting organisations across the region, so they can grow and enhance their facilities.

“Having quality, fit for purpose facilities will ultimately allow Aucklanders from all walks of life to participate in sport and recreation, stay active and connect.

“Non-council owned facilities are crucial to the Tāmaki Makaurau sport and recreation facility network as they meet the region’s evolving demands for sporting opportunities.”

Waka Pacific Trust was allocated $250,000 for shading and lighting of the climbing frame to be built at Vector Wero Whitewater Park in Manukau. The galvanised steel structure will rise 16 metres, comprise 78 climbing elements ranging in difficulty levels. It will host up to 100 participants at once, offering a fun and active challenge. The Trust’s school programme which supported 90,000 children free of charge in 2024 – 80 per cent from low-decile schools – aims to provide free access to 15,000 local children in Wero Climb’s first year, with 9,000 already registered to have a go.

The council has previously contributed $250,000 to this $3.1 million project through the same fund.

The other organisations allocated funding include Auckland Hockey Association, Highbrook Regional Watersports Centre Trust, Ngāti Whātua Ōrakei Whai Maia, Pakuranga United Rugby Club (to expand their community sports centre), Waka Pacific Trust and West Auckland Riding for the Disabled.

“It’s fantastic to have these investment decisions made by our elected members,” says Kenneth Aiolupotea, General Manager Community Wellbeing.

“The next step involves our team working closely with successful grant applicants to build their sports and recreational infrastructure that will benefit our communities across Tāmaki Makaurau. This is very exciting.”

How funding is allocated

Six organisations were invited to submit updated information regarding their on-going projects. These projects were identified based on their alignment to the priority criteria for the fund and progress through the project lifecycle.

Auckland Council staff and an independent review panel considered the submissions and assessed the capability of the organisations, achievability of the project, current project status, and funding status.

All six of the targeted process projects were recommended to receive grants for a total of $14,348,920. The funding was approved by the council’s Community Committee on 11 February 2025.

More information on the council’s grants programme that supports Aucklanders’ aspirations for a great city, including the Sport and Recreation Facilities Investment Fund can be found on the Auckland Council website.

Next funding round

Applications for the Sport and Recreational Facilities Investment Fund, contestable process opens on 18 February 2025 and closes on 18 March 2025.

Sport and Recreation Facilities Investment Fund, targeted process 2025/2026
Recipient	Project title	Funding up to:
Auckland Hockey Association Incorporated	Lloyd Elsmore Park Hockey Stadium – Turf 2 renewal and LED Flood-light upgrade	$215,000
Highbrook Regional Watersport Centre Trust	Highbrook Watersports Centre Clubhouse building	$2,200,000
Ngāti Whātua Ōrakei Whai Maia Limited acting on behalf of Whai Maia Charitable Trust 1	Ngāti Whātua Ōrakei Sports, Recreation and Hauora Centre	$5,000,000
Pakuranga United Rugby Club Incorporated	Howick Pakuranga Community Sports Centre Facility Expansion	$5,571,061
Waka Pacific Trust	Wero Climb	$250,000
West Auckland Riding for the Disabled Association Incorporated	Covered Riding Facility	$512,859
Total		$14,348, 920

MIL OSI New Zealand News –

February 13, 2025

MIL-OSI: Palomar Holdings, Inc. Reports Fourth Quarter & Full Year 2024 Results

Source: GlobeNewswire (MIL-OSI)

LA JOLLA, Calif., Feb. 12, 2025 (GLOBE NEWSWIRE) — Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $35.0 million, or $1.29 per diluted share, for the fourth quarter of 2024 compared to net income of $25.9 million, or $1.02 per diluted share, for the fourth quarter of 2023. Adjusted net income⁽¹⁾ was $41.3 million, or $1.52 per diluted share, for the fourth quarter of 2024 as compared to $28.0 million, or $1.11 per diluted share, for the fourth quarter of 2023.

Fourth Quarter 2024 Highlights

Gross written premiums increased by 23.3% to $373.7 million compared to $303.2 million in the fourth quarter of 2023
Net income increased 35.0% to $35.0 million compared to $25.9 million in the fourth quarter of 2023
Adjusted net income⁽¹⁾ increased 47.5% to $41.3 million compared to $28.0 million in the fourth quarter of 2023
Total loss ratio of 25.7% compared to 19.1% in the fourth quarter of 2023
Combined ratio of 75.9% compared to 74.2% in the fourth quarter of 2023
Adjusted combined ratio⁽¹⁾ of 71.7% compared to 68.8%, in the fourth quarter of 2023
Annualized return on equity of 19.5% compared to 23.2% in the fourth quarter of 2023
Annualized adjusted return on equity⁽¹⁾ of 23.1% compared to 25.1% in the fourth quarter of 2023

Full Year 2024 Highlights

Gross written premiums increased by 35.1% to $1.5 billion compared to $1.1 billion in 2023
Net income increased 48.4% to $117.6 million compared to $79.2 million in 2023
Adjusted net income⁽¹⁾ increased 42.8% to $133.5 million compared to $93.5 million in 2023
Total loss ratio of 26.4% compared to 21.0% in 2023
Combined ratio of 78.1% compared to 76.6% in 2023
Adjusted combined ratio⁽¹⁾ of 73.7% compared to 71.2% in 2023
Return on equity of 19.6% compared to 18.5% in 2023
Adjusted return on equity⁽¹⁾ of 22.2% compared to 21.9% in 2023

(1) See discussion of “Non-GAAP and Key Performance Indicators” below.

Mac Armstrong, Chairman and Chief Executive Officer, commented, “Palomar’s stellar 2024 was capped off by an exceptional fourth quarter. During the quarter, we generated gross written premiums growth of 23%, 39% when excluding run-off business from our results, adjusted net income growth of 48%, inclusive of $8.1 million of catastrophe losses, and, importantly, an adjusted return on equity of 23%. When looking at the full year we not only generated record gross written premiums and adjusted net income, but we grew our top and bottom-line 35% and 43%, respectively. Additionally, throughout 2024 we made significant investments across the organization that we believe will sustain our earnings base and profitable growth trajectory.” 

Mr. Armstrong continued, “Beyond the strong financial results of the fourth quarter and 2024, Palomar’s accomplishments were several and notable, highlighted by our AM Best upgrade and the acquisition of First Indemnity of America, our surety operation. Furthermore, we accomplished a Palomar 2X fundamental strategic objective by doubling our adjusted underwriting income for the 2021 period in a three-year timeframe. We are energized by our prospects to continue this profitable growth in 2025 and thereafter.” 

Underwriting Results

Gross written premiums increased 23.3% to $373.7 million compared to $303.2 million in the fourth quarter of 2023, additionally net earned premiums increased 54.6% compared to the prior year’s fourth quarter.

Losses and loss adjustment expenses for the fourth quarter were $37.2 million, comprised of $29.1 million of attritional losses and $8.1 million of catastrophe losses primarily related to Hurricane Milton. The loss ratio for the quarter was 25.7%, comprised of an attritional loss ratio of 20.1% and a catastrophe loss ratio of 5.6%, compared to a loss ratio of 19.1% during the same period last year, all comprised of attritional losses.

Underwriting income⁽¹⁾ for the fourth quarter was $34.9 million resulting in a combined ratio of 75.9% compared to underwriting income of $24.2 million resulting in a combined ratio of 74.2% during the same period last year. The Company’s adjusted underwriting income⁽¹⁾ was $41.0 million resulting in an adjusted combined ratio⁽¹⁾ of 71.7% in the fourth quarter compared to adjusted underwriting income⁽¹⁾ of $29.3 million and an adjusted combined ratio⁽¹⁾ of 68.8% during the same period last year.

Investment Results
Net investment income increased by 61.3% to $11.3 million compared to $7.0 million in the prior year’s fourth quarter. The increase was primarily due to higher yields on invested assets and a higher average balance of investments held during the three months ended December 31, 2024 due to cash generated from operations and proceeds from our August 2024 stock offering. The weighted average duration of the fixed-maturity investment portfolio, including cash equivalents, was 4.04 years at December 31, 2024. Cash and invested assets totaled $1.1 billion at December 31, 2024. During the fourth quarter, the Company recorded net realized and unrealized losses of $1.2 million related to its investment portfolio as compared to net realized and unrealized gains of $3.0 million in last year’s fourth quarter.

Tax Rate
The effective tax rate for the three months ended December 31, 2024 was 22.2% compared to 22.6% for the three months ended December 31, 2023. For the current quarter, the Company’s income tax rate differed from the statutory rate due primarily to the non-deductible executive compensation expense, offset by the permanent component of employee stock option exercises.

Stockholders’ Equity and Returns
Stockholders’ equity was $729.0 million at December 31, 2024, compared to $471.3 million at December 31, 2023. For the three months ended December 31, 2024, the Company’s annualized return on equity was 19.5% compared to 23.2% for the same period in the prior year while adjusted return on equity⁽¹⁾ was 23.1% compared to 25.1% for the same period in the prior year.

Full Year 2025 Outlook
For the full year 2025, the Company expects to achieve adjusted net income of $180 million to $192 million. This includes an estimate of $8 million to $12 million of catastrophe losses for the year.

Conference Call
As previously announced, Palomar will host a conference call Thursday, February 13, 2025, to discuss its fourth quarter 2024 results at 12:00 p.m. (Eastern Time). The conference call can be accessed live by dialing 1-877-423-9813 or for international callers, 1-201-689-8573, and requesting to be joined to the Palomar Fourth Quarter 2024 Earnings Conference Call. A replay will be available starting at 4:00 p.m. (Eastern Time) on February 13, 2025, and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 13743970. The replay will be available until 11:59 p.m. (Eastern Time) on February 20, 2025.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the investor relations section of the Company’s website at http://ir.palomarspecialty.com/. The online replay will remain available for a limited time beginning immediately following the call.

About Palomar Holdings, Inc.
Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd. (“PSRE”), Palomar Insurance Agency, Inc. (“PIA”), Palomar Excess and Surplus Insurance Company (“PESIC”), Palomar Underwriters Exchange Organization, Inc (“PUEO”), Palomar Crop Insurance Services, Inc, and First Indemnity of America Insurance Company (acquired 1/1/2025). Palomar’s consolidated results also include Laulima Reciprocal Exchange, a variable interest entity for which the Company is the primary beneficiary. Palomar is an innovative specialty insurer serving residential and commercial clients in five product categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. Palomar’s insurance subsidiaries, Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., and Palomar Excess and Surplus Insurance Company, have a financial strength rating of “A” (Excellent) from A.M. Best.

Non-GAAP and Key Performance Indicators

Palomar discusses certain key performance indicators, described below, which provide useful information about the Company’s business and the operational factors underlying the Company’s financial performance.

Underwriting revenue is a non-GAAP financial measure defined as total revenue, excluding net investment income and net realized and unrealized gains and losses on investments. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of total revenue calculated in accordance with GAAP to underwriting revenue.

Underwriting income is a non-GAAP financial measure defined as income before income taxes excluding net investment income, net realized and unrealized gains and losses on investments, and interest expense. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of income before income taxes calculated in accordance with GAAP to underwriting income.

Adjusted net income is a non-GAAP financial measure defined as net income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. The Company calculates the tax impact only on adjustments which would be included in calculating its income tax expense using the estimated tax rate at which the company received a deduction for these adjustments. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of net income calculated in accordance with GAAP to adjusted net income.

Annualized Return on equity is net income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period.

Annualized adjusted return on equity is a non-GAAP financial measure defined as adjusted net income expressed on an annualized basis as a percentage of average beginning and ending stockholders’ equity during the period. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of return on equity calculated using unadjusted GAAP numbers to adjusted return on equity.

Loss ratio, expressed as a percentage, is the ratio of losses and loss adjustment expenses, to net earned premiums.

Expense ratio, expressed as a percentage, is the ratio of acquisition and other underwriting expenses, net of commission and other income to net earned premiums.

Combined ratio is defined as the sum of the loss ratio and the expense ratio. A combined ratio under 100% generally indicates an underwriting profit. A combined ratio over 100% generally indicates an underwriting loss.

Adjusted combined ratio is a non-GAAP financial measure defined as the sum of the loss ratio and the expense ratio calculated excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of combined ratio calculated using unadjusted GAAP numbers to adjusted combined ratio.

Diluted adjusted earnings per share is a non-GAAP financial measure defined as adjusted net income divided by the weighted-average common shares outstanding for the period, reflecting the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of diluted earnings per share calculated in accordance with GAAP to diluted adjusted earnings per share.

Catastrophe loss ratio is a non-GAAP financial measure defined as the ratio of catastrophe losses to net earned premiums. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of loss ratio calculated using unadjusted GAAP numbers to catastrophe loss ratio.

Adjusted combined ratio excluding catastrophe losses is a non-GAAP financial measure defined as adjusted combined ratio excluding the impact of catastrophe losses. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of combined ratio calculated using unadjusted GAAP numbers to adjusted combined ratio excluding catastrophe losses.

Adjusted underwriting income is a non-GAAP financial measure defined as underwriting income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of income before income taxes calculated in accordance with GAAP to adjusted underwriting income.

Tangible stockholders’ equity is a non-GAAP financial measure defined as stockholders’ equity less goodwill and intangible assets. See “Reconciliation of Non-GAAP Financial Measures” for a reconciliation of stockholders’ equity calculated in accordance with GAAP to tangible stockholders’ equity.

Safe Harbor Statement
Palomar cautions you that statements contained in this press release may regard matters that are not historical facts but are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Palomar that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business. The forward-looking statements are typically, but not always, identified through use of the words “believe,” “expect,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including unexpected expenditures and costs, unexpected results or delays in development and regulatory review, regulatory approval requirements, the frequency and severity of adverse events and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company’s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contact
Media Inquiries
Lindsay Conner
1-551-206-6217
lconner@plmr.com

Investor Relations
Jamie Lillis
1-203-428-3223
investors@plmr.com
Source: Palomar Holdings, Inc.

Summary of Operating Results:

The following tables summarize the Company’s results for the three months and year ended December 31, 2024 and 2023:

	Three Months Ended
	December 31,
	2024			2023			Change			% Change
	($ in thousands, except per share data)
Gross written premiums	$	373,723		$	303,152		$	70,571			23.3	%
Ceded written premiums		(204,492	)		(188,742	)		(15,750	)		8.3	%
Net written premiums		169,231			114,410			54,821			47.9	%
Net earned premiums		144,890			93,748			51,142			54.6	%
Commission and other income		750			1,586			(836	)		(52.7	)%
Total underwriting revenue ⁽¹⁾		145,640			95,334			50,306			52.8	%
Losses and loss adjustment expenses		37,176			17,896			19,280			107.7	%
Acquisition expenses, net of ceding commissions and fronting fees		40,585			29,005			11,580			39.9	%
Other underwriting expenses		32,947			24,210			8,737			36.1	%
Underwriting income ⁽¹⁾		34,932			24,223			10,709			44.2	%
Interest expense		(87	)		(824	)		737			(89.4	)%
Net investment income		11,318			7,015			4,303			61.3	%
Net realized and unrealized (losses) gains on investments		(1,201	)		3,044			(4,245	)		(139.5	)%
Income before income taxes		44,962			33,458			11,504			34.4	%
Income tax expense		9,997			7,564			2,433			32.2	%
Net income	$	34,965		$	25,894		$	9,071			35.0	%
Adjustments:
Net realized and unrealized losses (gains) on investments		1,201			(3,044	)		4,245			(139.5	)%
Expenses associated with transactions		922			478			444			92.9	%
Stock-based compensation expense		4,779			4,176			603			14.4	%
Amortization of intangibles		389			389			—			—	%
Tax impact		(964	)		103			(1,067	)		NM
Adjusted net income ⁽¹⁾	$	41,292		$	27,996		$	13,296			47.5	%
Key Financial and Operating Metrics
Annualized return on equity		19.5	%		23.2	%
Annualized adjusted return on equity ⁽¹⁾		23.1	%		25.1	%
Loss ratio		25.7	%		19.1	%
Expense ratio		50.2	%		55.1	%
Combined ratio		75.9	%		74.2	%
Adjusted combined ratio ⁽¹⁾		71.7	%		68.8	%
Diluted earnings per share	$	1.29		$	1.02
Diluted adjusted earnings per share ⁽¹⁾	$	1.52		$	1.11
Catastrophe losses	$	8,122		$	10
Catastrophe loss ratio ⁽¹⁾		5.6	%		—	%
Adjusted combined ratio excluding catastrophe losses ⁽¹⁾		66.1	%		68.8	%
Adjusted underwriting income ⁽¹⁾	$	41,022		$	29,266		$	11,756			40.2	%
NM – not meaningful

(1)- Indicates Non-GAAP financial measure- see above for definition of Non-GAAP financial measures and see below for reconciliation of Non-GAAP financial measures to their most directly comparable measures prepared in accordance with GAAP.


	Year Ended
	December 31,
	2024			2023			Change			% Change
	($ in thousands, except per share data)
Gross written premiums	$	1,541,962		$	1,141,558		$	400,404			35.1	%
Ceded written premiums		(897,111	)		(731,531	)		(165,580	)		22.6	%
Net written premiums		644,851			410,027			234,824			57.3	%
Net earned premiums		510,687			345,913			164,774			47.6	%
Commission and other income		2,784			3,367			(583	)		(17.3	)%
Total underwriting revenue ⁽¹⁾		513,471			349,280			164,191			47.0	%
Losses and loss adjustment expenses		134,759			72,592			62,167			85.6	%
Acquisition expenses, net of ceding commissions and fronting fees		149,657			107,745			41,912			38.9	%
Other underwriting expenses		117,113			88,172			28,941			32.8	%
Underwriting income ⁽¹⁾		111,942			80,771			31,171			38.6	%
Interest expense		(1,138	)		(3,775	)		2,637			(69.9	)%
Net investment income		35,824			23,705			12,119			51.1	%
Net realized and unrealized gains on investments		4,568			2,941			1,627			55.3	%
Income before income taxes		151,196			103,642			47,554			45.9	%
Income tax expense		33,623			24,441			9,182			37.6	%
Net income	$	117,573		$	79,201		$	38,372			48.4	%
Adjustments:
Net realized and unrealized gains on investments		(4,568	)		(2,941	)		(1,627	)		55.3	%
Expenses associated with transactions		1,479			706			773			109.5	%
Stock-based compensation expense		16,685			14,913			1,772			11.9	%
Amortization of intangibles		1,558			1,481			77			5.2	%
Expenses associated with catastrophe bond		2,483			1,640			843			51.4	%
Tax impact		(1,699	)		(1,480	)		(219	)		14.8	%
Adjusted net income ⁽¹⁾	$	133,511		$	93,520		$	39,991			42.8	%
Key Financial and Operating Metrics
Annualized return on equity		19.6	%		18.5	%
Annualized adjusted return on equity ⁽¹⁾		22.2	%		21.9	%
Loss ratio		26.4	%		21.0	%
Expense ratio		51.7	%		55.7	%
Combined ratio		78.1	%		76.6	%
Adjusted combined ratio ⁽¹⁾		73.7	%		71.2	%
Diluted earnings per share	$	4.48		$	3.13
Diluted adjusted earnings per share ⁽¹⁾	$	5.09		$	3.69
Catastrophe losses	$	27,846		$	3,442
Catastrophe loss ratio ⁽¹⁾		5.5	%		1.0	%
Adjusted combined ratio excluding catastrophe losses ⁽¹⁾		68.3	%		70.2	%
Adjusted underwriting income ⁽¹⁾	$	134,147		$	99,511		$	34,636			34.8	%

Condensed Consolidated Balance sheets

Palomar Holdings, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (unaudited) (in thousands, except shares and par value data)

	December 31, 2024			December 31, 2023
Assets
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost: $973,330 in 2024; $675,130 in 2023)	$	939,046		$	643,799
Equity securities, at fair value (cost: $32,987 in 2024; $43,003 in 2023)		40,529			43,160
Equity method investment		2,277			2,617
Other investments		5,863			—
Total investments		987,715			689,576
Cash and cash equivalents		80,438			51,546
Restricted cash		101			306
Accrued investment income		8,440			5,282
Premium receivable		305,724			261,972
Deferred policy acquisition costs, net of ceding commissions and fronting fees		94,881			60,990
Reinsurance recoverable on paid losses and loss adjustment expenses		47,076			32,172
Reinsurance recoverable on unpaid losses and loss adjustment expenses		348,083			244,622
Ceded unearned premiums		276,237			265,808
Prepaid expenses and other assets		91,086			72,941
Deferred tax assets, net		8,768			10,119
Property and equipment, net		429			373
Goodwill and intangible assets, net		13,242			12,315
Total assets	$	2,262,220		$	1,708,022
Liabilities and stockholders’ equity
Liabilities:
Accounts payable and other accrued liabilities	$	70,079		$	42,376
Reserve for losses and loss adjustment expenses		503,382			342,275
Unearned premiums		741,692			597,103
Ceded premium payable		190,168			181,742
Funds held under reinsurance treaty		27,869			13,419
Income taxes payable		—			7,255
Borrowings from credit agreements		—			52,600
Total liabilities		1,533,190			1,236,770
Stockholders’ equity:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized as of December 31, 2024 and December 31, 2023, 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023		—			—
Common stock, $0.0001 par value, 500,000,000 shares authorized, 26,529,402 and 24,772,987 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively		3			3
Additional paid-in capital		493,656			350,597
Accumulated other comprehensive loss		(26,845	)		(23,991	)
Retained earnings		262,216			144,643
Total stockholders’ equity		729,030			471,252
Total liabilities and stockholders’ equity	$	2,262,220		$	1,708,022

Condensed Consolidated Income Statement

Palomar Holdings, Inc. and Subsidiaries Condensed Consolidated Statements of Income and Comprehensive Income (loss) (Unaudited) (in thousands, except shares and per share data)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
Revenues:
Gross written premiums	$	373,723		$	303,152		$	1,541,962		$	1,141,558
Ceded written premiums		(204,492	)		(188,742	)		(897,111	)		(731,531	)
Net written premiums		169,231			114,410			644,851			410,027
Change in unearned premiums		(24,341	)		(20,662	)		(134,164	)		(64,114	)
Net earned premiums		144,890			93,748			510,687			345,913
Net investment income		11,318			7,015			35,824			23,705
Net realized and unrealized (losses) gains on investments		(1,201	)		3,044			4,568			2,941
Commission and other income		750			1,586			2,784			3,367
Total revenues		155,757			105,393			553,863			375,926
Expenses:
Losses and loss adjustment expenses		37,176			17,896			134,759			72,592
Acquisition expenses, net of ceding commissions and fronting fees		40,585			29,005			149,657			107,745
Other underwriting expenses		32,947			24,210			117,113			88,172
Interest expense		87			824			1,138			3,775
Total expenses		110,795			71,935			402,667			272,284
Income before income taxes		44,962			33,458			151,196			103,642
Income tax expense		9,997			7,564			33,623			24,441
Net income	$	34,965		$	25,894		$	117,573		$	79,201
Other comprehensive income, net:
Net unrealized (losses) gains on securities available for sale		(16,707	)		19,229			(2,854	)		12,524
Net comprehensive income	$	18,258		$	45,123		$	114,719		$	91,725
Per Share Data:
Basic earnings per share	$	1.32		$	1.05		$	4.61		$	3.19
Diluted earnings per share	$	1.29		$	1.02		$	4.48		$	3.13

Weighted-average common shares outstanding:
Basic		26,491,939			24,747,347			25,520,343			24,822,004
Diluted		27,206,225			25,272,149			26,223,842			25,327,091

Underwriting Segment Data

The Company has a single reportable segment and offers specialty insurance products. Gross written premiums (GWP) by product, location and company are presented below:

	Three Months Ended December 31,
	2024					2023
	($ in thousands)
			% of						% of						%
	Amount		GWP			Amount			GWP			Change			Change
Product (1)
Earthquake	$	146,757		39.3	%	$	122,087			40.3	%	$	24,670			20.2	%
Inland Marine and other Property		85,396		22.9	%		63,039			20.8	%		22,357			35.5	%
Casualty		68,484		18.3	%		32,323			10.7	%		36,161			111.9	%
Fronting		57,418		15.4	%		85,708			28.3	%		(28,290	)		(33.0	)%
Crop		15,668		4.2	%		(5	)		(0.0	)%		15,673			NM
Total Gross Written Premiums	$	373,723		100.0	%	$	303,152			100.0	%	$	70,571			23.3	%

NM- Not meaningful

	Year Ended December 31,
	2024					2023
	($ in thousands)
			% of					% of						%
	Amount		GWP			Amount		GWP			Change			Change
Product (1)
Earthquake	$	522,864		33.9	%	$	436,896		38.3	%	$	85,968			19.7	%
Inland Marine and Other Property		334,079		21.7	%		250,023		21.9	%		84,056			33.6	%
Fronting		333,188		21.6	%		352,141		30.8	%		(18,953	)		(5.4	)%
Casualty		235,592		15.3	%		90,388		7.9	%		145,204			160.6	%
Crop		116,239		7.5	%		12,110		1.1	%		104,129			859.9	%
Total Gross Written Premiums	$	1,541,962		100.0	%	$	1,141,558		100.0	%	$	400,404			35.1	%

(1) – Beginning in 2024, the Company has updated the categorization of its products to align with management’s current strategy and view of the business. Prior year amounts have been reclassified for comparability purposes. The recategorization is for presentation purposes only and does not impact overall gross written premiums.

	Three Months Ended December 31,										Year Ended December 31,
	2024					2023					2024					2023
	($ in thousands)										($ in thousands)
			% of					% of					% of					% of
	Amount		GWP			Amount		GWP			Amount		GWP			Amount		GWP
State
California	$	157,786		42.2	%	$	165,342		54.5	%	$	668,635		43.4	%	$	600,791		52.6	%
Texas		28,002		7.5	%		22,740		7.5	%		124,416		8.1	%		95,517		8.4	%
Hawaii		18,636		5.0	%		11,562		3.8	%		72,558		4.7	%		47,388		4.2	%
Washington		16,007		4.3	%		14,124		4.7	%		57,900		3.8	%		49,494		4.3	%
New York		14,756		3.9	%		6,775		2.2	%		38,919		2.5	%		18,424		1.6	%
Florida		8,855		2.4	%		11,286		3.7	%		67,008		4.3	%		47,595		4.2	%
Oregon		8,298		2.2	%		6,307		2.1	%		29,550		1.9	%		23,220		2.0	%
Illinois		7,176		1.9	%		6,697		2.2	%		20,901		1.4	%		22,340		2.0	%
Other		114,207		30.6	%		58,319		19.2	%		462,075		30.0	%		236,789		20.7	%
Total Gross Written Premiums	$	373,723		100.0	%	$	303,152		100.0	%	$	1,541,962		100.0	%	$	1,141,558		100.0	%

	Three Months Ended December 31,										Year Ended December 31,
	2024					2023					2024					2023
	($ in thousands)										($ in thousands)
			% of					% of					% of					% of
	Amount		GWP			Amount		GWP			Amount		GWP			Amount		GWP
Subsidiary
PSIC	$	170,275		45.6	%	$	156,590		51.7	%	$	823,263		53.4	%	$	653,809		57.3	%
PESIC		188,496		50.4	%		146,562		48.3	%		661,404		42.9	%		487,749		42.7	%
Laulima		14,952		4.0	%		—		—	%		57,295		3.7	%		—		—	%
Total Gross Written Premiums	$	373,723		100.0	%	$	303,152		100.0	%	$	1,541,962		100.0	%	$	1,141,558		100.0	%

Gross and net earned premiums

The table below shows the amount of premiums the Company earned on a gross and net basis and the Company’s net earned premiums as a percentage of gross earned premiums for each period presented:

	Three Months Ended												Year Ended
	December 31,												December 31,
	2024			2023			Change			% Change			2024			2023			Change			% Change
	($ in thousands)												($ in thousands)
Gross earned premiums	$	371,654		$	276,502		$	95,152			34.4	%	$	1,397,369		$	1,015,722		$	381,647			37.6	%
Ceded earned premiums		(226,764	)		(182,754	)		(44,010	)		24.1	%		(886,682	)		(669,809	)		(216,873	)		32.4	%
Net earned premiums	$	144,890		$	93,748		$	51,142			54.6	%	$	510,687		$	345,913		$	164,774			47.6	%

Net earned premium ratio		39.0	%		33.9	%								36.5	%		34.1	%

Loss detail

	Three Months Ended											Year Ended
	December 31,											December 31,
	2024			2023			Change		% Change			2024			2023			Change		% Change
	($ in thousands)											($ in thousands)
Catastrophe losses	$	8,122		$	10		$	8,112		NM		$	27,846		$	3,442		$	24,404		NM
Non-catastrophe losses		29,054			17,886			11,168		62.4	%		106,913			69,150			37,763		54.6	%
Total losses and loss adjustment expenses	$	37,176		$	17,896		$	19,280		107.7	%	$	134,759		$	72,592		$	62,167		85.6	%

Catastrophe loss ratio		5.6	%		0.0	%							5.5	%		1.0	%
Non-catastrophe loss ratio		20.1	%		19.1	%							20.9	%		20.0	%
Total loss ratio		25.7	%		19.1	%							26.4	%		21.0	%
NM-Not meaningful

The following table represents a reconciliation of changes in the ending reserve balances for losses and loss adjustment expenses:

	Three Months Ended December 31,						Year Ended December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Reserve for losses and LAE net of reinsurance recoverables at beginning of period	$	137,274		$	92,178		$	97,653		$	77,520
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year		37,575			19,409			137,798			70,363
Prior years		(399	)		(1,513	)		(3,039	)		2,229
Total incurred		37,176			17,896			134,759			72,592
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year		15,675			5,417			43,582			19,631
Prior years		3,476			7,004			33,531			32,828
Total payments		19,151			12,421			77,113			52,459
Reserve for losses and LAE net of reinsurance recoverables at end of period		155,299			97,653			155,299			97,653
Add: Reinsurance recoverables on unpaid losses and LAE at end of period		348,083			244,622			348,083			244,622
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE at end of period	$	503,382		$	342,275		$	503,382		$	342,275

Reconciliation of Non-GAAP Financial Measures

For the three months and year ended December 31, 2024 and 2023, the Non-GAAP financial measures discussed above reconcile to their most comparable GAAP measures as follows:

Underwriting revenue

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Total revenue	$	155,757		$	105,393		$	553,863		$	375,926
Net investment income		(11,318	)		(7,015	)		(35,824	)		(23,705	)
Net realized and unrealized (gains) losses on investments		1,201			(3,044	)		(4,568	)		(2,941	)
Underwriting revenue	$	145,640		$	95,334		$	513,471		$	349,280

Underwriting income and adjusted underwriting income

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Income before income taxes	$	44,962		$	33,458		$	151,196		$	103,642
Net investment income		(11,318	)		(7,015	)		(35,824	)		(23,705	)
Net realized and unrealized losses (gains) on investments		1,201			(3,044	)		(4,568	)		(2,941	)
Interest expense		87			824			1,138			3,775
Underwriting income	$	34,932		$	24,223		$	111,942		$	80,771
Expenses associated with transactions		922			478			1,479			706
Stock-based compensation expense		4,779			4,176			16,685			14,913
Amortization of intangibles		389			389			1,558			1,481
Expenses associated with catastrophe bond		—			—			2,483			1,640
Adjusted underwriting income	$	41,022		$	29,266		$	134,147		$	99,511

Adjusted net income

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Net income	$	34,965		$	25,894		$	117,573		$	79,201
Adjustments:
Net realized and unrealized losses (gains) on investments		1,201			(3,044	)		(4,568	)		(2,941	)
Expenses associated with transactions		922			478			1,479			706
Stock-based compensation expense		4,779			4,176			16,685			14,913
Amortization of intangibles		389			389			1,558			1,481
Expenses associated with catastrophe bond		—			—			2,483			1,640
Tax impact		(964	)		103			(1,699	)		(1,480	)
Adjusted net income	$	41,292		$	27,996		$	133,511		$	93,520

Annualized adjusted return on equity

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)

Annualized adjusted net income	$	165,168		$	111,984		$	133,511		$	93,520
Average stockholders’ equity	$	716,171		$	446,293		$	600,140		$	428,002
Annualized adjusted return on equity		23.1	%		25.1	%		22.2	%		21.9	%

Adjusted combined ratio

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Numerator: Sum of losses and loss adjustment expenses, acquisition expenses, and other underwriting expenses, net of commission and other income	$	109,958		$	69,525		$	398,745		$	265,142
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Combined ratio		75.9	%		74.2	%		78.1	%		76.6	%
Adjustments to numerator:
Expenses associated with transactions	$	(922	)	$	(478	)	$	(1,479	)	$	(706	)
Stock-based compensation expense		(4,779	)		(4,176	)		(16,685	)		(14,913	)
Amortization of intangibles		(389	)		(389	)		(1,558	)		(1,481	)
Expenses associated with catastrophe bond		—			—			(2,483	)		(1,640	)
Adjusted combined ratio		71.7	%		68.8	%		73.7	%		71.2	%

Diluted adjusted earnings per share

	Three Months Ended				Year Ended
	December 31,				December 31,
	2024		2023		2024		2023
	(in thousands, except per share data)				(in thousands, except per share data)

Adjusted net income	$	41,292	$	27,996	$	133,511	$	93,520
Weighted-average common shares outstanding, diluted		27,206,225		25,272,149		26,223,842		25,327,091
Diluted adjusted earnings per share	$	1.52	$	1.11	$	5.09	$	3.69

Catastrophe loss ratio

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Numerator: Losses and loss adjustment expenses	$	37,176		$	17,896		$	134,759		$	72,592
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Loss ratio		25.7	%		19.1	%		26.4	%		21.0	%

Numerator: Catastrophe losses	$	8,122		$	10		$	27,846		$	3,442
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Catastrophe loss ratio		5.6	%		0.0	%		5.5	%		1.0	%

Adjusted combined ratio excluding catastrophe losses

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
	(in thousands)						(in thousands)
Numerator: Sum of losses and loss adjustment expenses, acquisition expenses, and other underwriting expenses, net of commission and other income	$	109,958		$	69,525		$	398,745		$	265,142
Denominator: Net earned premiums	$	144,890		$	93,748		$	510,687		$	345,913
Combined ratio		75.9	%		74.2	%		78.1	%		76.6	%
Adjustments to numerator:
Expenses associated with transactions	$	(922	)	$	(478	)	$	(1,479	)	$	(706	)
Stock-based compensation expense		(4,779	)		(4,176	)		(16,685	)		(14,913	)
Amortization of intangibles		(389	)		(389	)		(1,558	)		(1,481	)
Expenses associated with catastrophe bond		—			—			(2,483	)		(1,640	)
Catastrophe losses		(8,122	)		(10	)		(27,846	)		(3,442	)
Adjusted combined ratio excluding catastrophe losses		66.1	%		68.8	%		68.3	%		70.2	%

Tangible Stockholders’ equity

	December 31,			December 31,
	2024			2023
	(in thousands)
Stockholders’ equity	$	729,030		$	471,252
Goodwill and intangible assets		(13,242	)		(12,315	)
Tangible stockholders’ equity	$	715,788		$	458,937

The MIL Network –

February 13, 2025

MIL-OSI USA: Chairman Capito Opening Statement at Hearing on Advancing CCUS Technology, Proper Implementation of USE IT Act

US Senate News:

Source: United States Senator for West Virginia Shelley Moore Capito
[embedded content]
To watch Chairman Capito’s opening statement, click here or the image above.
WASHINGTON, D.C. – Today, U.S. Senator Shelley Moore Capito (R-W.Va.), Chairman of the Senate Environment and Public Works (EPW) Committee, held a hearing on advancing carbon capture, utilization, and sequestration (CCUS) technologies, and examining the implementation of the Utilizing Significant Emissions with Innovative Technologies Act or USE IT Act. The EPW Committee led efforts to get the USE IT Act signed into law in December 2020.
In her opening remarks, Chairman Capito spoke to the bipartisan support for CCUS technology and the need to continue efforts to advance these technologies, while emphasizing the importance of implementing the USE IT Act at a faster pace. Additionally, Chairman Capito highlighted the significance of timely project approval and Class VI well primacy for states, as well as the role of CCUS in ensuring a reliable electric grid.
Below is the opening statement of Chairman Shelley Moore Capito (R-W.Va.) as delivered.
“I’m excited to start this year with a hearing on a bipartisan topic that Ranking Member Whitehouse and I have worked together on over the years to address, and I look forward to continuing bipartisan efforts to champion meaningful legislation on this issue with Ranking Member Whitehouse and the rest of the Committee. Certainly, [Senator Cramer] knows a lot about this at the same time in the great state of North Dakota. Innovative CCUS technologies will play a critical role in reducing emissions, particularly for facilities that face unique challenges because of their size, location, or industrial application.
“In my state of West Virginia, several CCUS efforts are underway. West Virginia University is currently exploring direct air capture technologies, and the Department of Energy’s National Energy Technology Laboratory, which is located in Morgantown, is supporting a suite of CCUS research.
“West Virginia is also a partner in the Appalachian Regional Clean Hydrogen Hub –known as ARCH2 – that includes project partners who are working to deploy CCUS technologies. Collectively, these projects position West Virginia to continue as a national energy leader, while also reducing our air emissions.
“But, we cannot realize the full benefits of these projects and emerging technologies like CCUS if there is not a permitting framework that will allow for the rapid and safe deployment of these projects. That’s why Ranking Member Whitehouse and I, working together with Senator Barrasso and former Senator Carper, moved forward to get the Utilizing Significant Emissions with Innovative Technologies Act – or the USE IT Act – signed into law in December of 2020.
“This legislation was intended to ensure that carbon capture projects, at all types of facilities, can be permitted in a timely and efficient manner. Despite the progress made by the USE IT Act, there have been significant problems with its implementation that have held back the deployment and the development of CCUS.
“First, while the Council on Environmental Quality – or CEQ – released a report in 2021 and subsequent interagency guidance for the deployment of CCUS in 2022, as the USE IT Act required, the guidance failed to present a clear pathway to expedite permitting for these projects.
“Second, the law required at least two federal tasks forces be established to help identify challenges to and solutions for permitting these projects. The Department of Energy and CEQ missed the required 18-month deadline to establish these tasks forces.
“They were not chartered until April of 2024, more than twice as long as the Congress mandated in the USE IT Act. The delay in standing up these task forces has hindered our progress in supporting CCUS, but at least they are finally working on recommendations to improve the permitting process.
“After the USE IT Act, Congress and the EPW Committee worked in a bipartisan way to expedite carbon capture projects by including $25 million in the IIJA for the EPA to review and approve Class VI well applications.
“The IIJA also included $50 million to help our states obtain primacy for permitting such Class VI wells. This funding gave the EPA needed resources to clear its backlog of individual Class VI applications, and reduce the total number of applications that the EPA must review by granting states primacy.
“Despite receiving additional help and funding with the process, the Biden administration only approved two Class VI projects, and only granted primacy to two states, Louisiana, and after more than three and half years…my home state, really the last day of the Biden administration, received their permit for primacy on Class VI wells.
“I’m very excited that [West Virginia] got our primacy over that permitting process. I hope EPA Administrator Zeldin will prioritize reducing the current backlog of pending applications and support additional states that are seeking to obtain primacy.
“The North American Electric Reliability Corporation has found that over the next ten years, due to a rise in energy consumption and the early retirement of our existing fossil fuel generation, our country could face major electric reliability concerns.
“The deployment of CCUS can be a tool to not only maintain, but expand reliable electric generation capacity and ensure the reliability of our electric grid, while improving the environment and growing our economy. I believe that’s a win-win situation.
“I look forward to our discussion today on this important topic, so we can figure out how we can continue to work in a bipartisan manner to advance CCUS deployment.”

MIL OSI USA News –

February 13, 2025
MIL-OSI United Nations: RAR24: Lack of investment in disaster prevention threatens Latin America and the Caribbean’s future

Source: UNISDR Disaster Risk Reduction

Latin America and the Caribbean face a critical imbalance in resource allocation for disaster risk reduction (DRR). According to the 2024 Regional Assessment Report on Disaster Risk in Latin America and the Caribbean (RAR24), developed by the United Nations Office for Disaster Risk Reduction (UNDRR) – Regional Office for the Americas and the Caribbean, only 6% of the public budget classified as DRR in the examined cases is allocated to preventing future risks, while 16% is dedicated to mitigating existing risks. The vast majority of funding is concentrated on response and reconstruction after disasters.

This reactive approach carries a heavy economic toll, with annual disaster losses expected to reach $58 billion across the region. Climate-related hazards now account for 83% of disasters, a trend compounded by rapid, unplanned urbanization. With 81% of the population living in cities—many in high-risk areas exposed to floods, hurricanes, and earthquakes—the urgency to shift from response to prevention has never been clearer.

RAR24 examines Brazil, Guatemala, and Mexico as case studies, recognizing their efforts in implementing budget classifiers that allow for better tracking and analysis of DRR investments. However, the findings reveal that most resources remain allocated to response and reconstruction. These tools represent a crucial step toward identifying gaps and improving investment strategies.

In Brazil, 0.06% of the national budget was allocated to DRR, with over 70% directed toward response and reconstruction. In Guatemala, 2.32% of the national budget was allocated to DRR between 2014 and 2023, but more than 98% of those funds went to response and reconstruction. In Mexico, 0.29% of the national budget was allocated to DRR, with 99% of it dedicated to response and reconstruction. Tracking these expenditures is essential for redirecting efforts toward prevention and demonstrating the potential for a more balanced approach.

The report also highlights missed opportunities due to the imbalance in risk management strategies. Early warning systems, which can reduce economic disaster impacts by 30%, and nature-based solutions, which are up to 50% more cost-effective than traditional interventions, remain underutilized due to insufficient investment in prospective risk management—actions aimed at preventing the creation of new risks rather than merely responding to disasters.

Furthermore, only 5% of disaster losses in developing countries are covered by insurance, compared to 40% in developed nations. This underscores the need for accessible and sustainable insurance schemes, as well as stronger collaboration between governments and the private sector to anticipate risks rather than merely react to them.

“Latin America and the Caribbean are facing a critical funding gap in disaster risk reduction, with most resources dedicated to response and reconstruction instead of prevention,” said Nahuel Arenas, Chief of the UNDRR Regional Office for the Americas and the Caribbean. “Investing in prospective risk management is not only more cost-effective but also an urgent necessity to protect communities, economies, and ensure a resilient future.”

RAR24 outlines a roadmap for correcting this imbalance, emphasizing the need to integrate disaster risk reduction as a fundamental pillar of sustainable development. Key recommendations include prioritizing investment in prospective risk management, strengthening intersectoral governance, adopting nature-based solutions, and expanding early warning systems.

Incorporating DRR into development policies will not only ensure more equitable and resilient growth but also save lives and significantly reduce disaster-related costs. According to the report, every dollar invested in DRR saves four dollars in future losses, reinforcing its strategic role in long-term sustainability.

Addressing the challenges posed by unequal investment in disaster risk reduction requires a collective and committed effort. DRR should not be seen as an expense but as a critical investment in the well-being of present and future generations. RAR24 not only exposes existing weaknesses but also highlights the tremendous opportunities to build a safer, more equitable, and resilient future for all.

MIL OSI United Nations News –

February 13, 2025
MIL-OSI USA: Expanding Affordable Broadband Access
Source: US State of New York

Governor Kathy Hochul today announced a $26 million ConnectALL grant to Oswego County to construct a fiber-to-the-home network that will expand broadband access to about 10,792 homes, businesses and community institutions across 22 towns and villages. The project will construct 345 miles of fiber infrastructure, significantly expanding high-speed internet access throughout rural areas of the county. This grant is part of New York State’s Municipal Infrastructure Program, which has now awarded over $240 million in funding for broadband expansion projects. Collectively, these investments support the construction of nearly 2,400 miles of broadband infrastructure, reaching about 98,000 locations across New York State.

“This $26 million investment in Oswego County’s broadband infrastructure represents our commitment to building a more connected New York, where every family and business can access affordable, high-speed internet,” Governor Hochul said. “By partnering with local governments to expand broadband coverage, we’re creating opportunities for economic growth, improving access to health care and education, and ensuring our rural communities are fully equipped to participate in our digital future.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Expanding reliable broadband connectivity is crucial for New York State’s economic growth. Through ConnectALL’s transformative work in Oswego County, we will help bridge the digital divide and connect thousands of Central New York residents and businesses to the modern digital economy. Through the ConnectALL initiative, we are building the infrastructure needed to provide all New Yorkers with reliable, affordable internet access.”

Oswego County will own the broadband network and make it available for lease to internet service providers, including Empire Access, on a non-discriminatory and non-exclusive basis. The revenue generated from these leases will support the network’s ongoing maintenance and future expansion. This innovative public infrastructure model ensures sustainable, affordable access while promoting competition among service providers.

The project specifically targets rural areas with high poverty rates and geographic isolation, addressing critical needs for affordable and reliable broadband service. The expanded connectivity will enhance residents’ access to essential services including:
- Telehealth resources
- Remote education opportunities
- Digital employment platforms
- Online business services
Funding for ConnectALL’s Municipal Infrastructure Program has been awarded through the U.S. Department of the Treasury under the American Rescue Plan’s Capital Projects Fund. Broadband infrastructure in the Municipal Infrastructure Program will be owned by a public entity or publicly controlled. Internet Service Providers will use the new broadband infrastructure to provide New Yorkers with affordable, high quality service options.

Oswego County Legislature Chairman James Weatherup said, “For more than a decade, we have been working to identify a funding source that would enable us to reach the areas in our county that, for various reasons, had been ignored by the major corporate Internet Service Providers. The Municipal Infrastructure Program offered by New York’s ConnectAll broadband office fit our needs nicely, allowing us to reach nearly 100 percent of the addresses that had been identified as unserved, as well as many that lacked service sufficient to carry out the needs of an average household. The project, when complete, will support the existing business community, enhance future economic development opportunities, provide a more robust learning environment for children and elevate the quality of life throughout the County. We are very grateful for this affordable opportunity to enhance our communities with these critical infrastructure assets.”

Governor Hochul’s ConnectALL Initiative

Governor Hochul has made expanding broadband access a cornerstone of her administration’s efforts to create a more equitable New York. Through the ConnectALL initiative, New York State is investing $1 billion to transform the State’s digital infrastructure, enhance competition among providers and ensure that every New Yorker has access to reliable, affordable high-speed internet.

To date, ConnectALL has overseen the successful launch and implementation of several programs to advance broadband access, including:
- The Digital Equity Program, which will invest $50 million, including a federal allocation of at least $37 million, to implement the New York State Digital Equity Plan to close the digital divide. ConnectALL is accepting responses to the Digital Equity Program Capacity Grant Request for Applications through March 24, 2025. ConnectALL will award about $15.5 Million through this Request for Applications to entities and partnerships working to bridge the digital divide.
  The Affordable Housing Connectivity Program, which will bring new broadband infrastructure to homes in affordable and public housing, leveraging a $100 million federal investment from the U.S. Treasury Department’s Capital Projects Fund. The program is currently accepting applications from internet service providers and expressions of interest from housing owners and public housing authorities.
  The ConnectALL Deployment Program, which will fund internet service providers to reach unserved and underserved locations, drawing on an allocation of $664.6 million in federal funding from the Broadband Equity, Access, and Deployment Program, as described in the ConnectALL Broadband Deployment Initial Proposal.
MIL OSI USA News –
February 13, 2025
MIL-OSI Economics: The European Financial Industry of the Future | 6. Frankfurt Digital Finance Conference & European Fintech Day
Source: Bundesbank

Check against delivery.
Ladies and gentlemen,

I’m glad to join you today at the “Gesellschaftshaus Palmengarten”. Its history goes back to the 19^th century. It was the “Gründerzeit” or “founders’ period” – an era of strong economic expansion in Germany – when this building was constructed. And when Germany was developed as an industrial location. Developed by people, men and women, lead by curiosity, innovation, and a desire to achieve.

We have to cast our minds back a few years to see times of growth, real innovation and increasing productivity in Europe.

1 The role of the financial industry

In the 2010s Germany had a period of solid growth that some called “the golden decade”.

Today, however, we see a need for growth and increasing productivity. Hence, our competitiveness is at stake. Not only in Germany, but also in other parts of Europe. And this comes at a time, when we are facing numerous major challenges:

Consider the significant geopolitical uncertainties of our time – which make a rethink necessary in many respects. Also consider the digitalisation of large parts of our economy, incl. disruptive AI. And think about the climate-related need for an ecological transformation.

Financing all of this requires a substantial amount of capital.

This is where the financial industry comes in: The financial industry can act as an enabler of growth in the real economy. Growth that is so much needed right now.

Looking forward, the financial industry could translate growth potential into real growth in many fields – digitalisation, AI, clean tech, pharma, biotech any many more.

In sum, there are huge business opportunities for Germany and the EU. And we need the Financial industry to take advantage of the business opportunities.

But let us not forget that innovation happens in many places – at start-ups but also at well established companies. We need to make sure that a variety of funding sources are available to support our real economies.

We need a specific financial ecosystem that enables young, innovative companies to flourish. Be it VC, PE, etc. We need established capital markets. Above all, we need a strong and healthy banking sector that supplies our economy with sufficient credit.

That means: We need both traditional loans and venture capital. In any case, all the pockets of the financial industry provide the basis for a growing economy. It’s also the basis for the ecological transformation.

The German Council of Experts on Climate Change published [a week ago] new figures on the investment needs estimated for the transition towards net-zero economic activity. Those investment needs range between 135 and 255 billion euro – each year for Germany alone.[1] That’s a lot.

Let’s now have a closer look at the digitalization including AI.

2 Artificial intelligence: innovation and competitiveness

The term artificial intelligence (AI) was coined in the middle of the 20th century. But it was the release of ChatGPT in November 2022 that marked a breakthrough. For the first time it became possible to use an AI system without detailed technical knowledge.

Nowadays almost anyone can use AI. The importance of responsible AI practices on the increase – as highlighted in the latest Declaration by the G20.[2]

There are important questions – to which, to be honest, there are no simple answers:

Are the opportunities and risks of AI balanced?

Does AI lead to a global fragmentation, to a new barrier between those who use AI and those who don’t?

Does AI, as a general-purpose technology, help us better manage economic challenges?[3]

One example of the latter point: Many societies are lacking skilled labour due to demographic change. Here, the use of AI could provide a solution by increasing efficiency or substituting human services. AI can also help drive innovation.

AI enables both incremental and disruptive innovation across all parts of society:

by facilitating faster decision-making

optimizing existing processes,

or by collecting, processing and using huge amounts of data.

It fosters creativity, supports scientific breakthroughs, and unlocks opportunities for entirely new industries and business models – a potential, albeit disruptive, growth engine.

Nevertheless, human creativity is still a key driver of innovation. In 2023, individuals or SMEs filed almost one in four patent applications in Europe.[4]

Today, we are at a crucial stage: With international competition on the one side and technical and intellectual skills on the other. AI models from the United States are well-known and often considered state of the art. China in particular has recently come up with new and apparently very efficient language models. However, the discussion about the background is not yet complete.

In Europe, we have to do our utmost to keep up with the pace. An important initiative recently came from France: In Paris the “EU AI Champions Initiative”, a high-level summit, was held at the beginning of this week.

President Macron mentioned a funding volume of roundabout € 109 billion for AI in France. This approach is very encouraging for other EU member states. By comparison: US–President Trump has mentioned USD 500 billion for his “Stargate” plan in the US.

Despite these substantial investments, there is no guarantee of success. On the other hand, we must not allow ourselves to be deterred by possible failures. One example is the French AI chatbot LUCIE, which has been taken offline after giving some weird answers. I am sure France will take this as a chance to try even harder.

The narrative with all kind of innovation is: Accept failure to grow. The pioneers of the “Gründerzeit” – which I mentioned earlier – knew this only too well.

We need this kind of courage to embrace a “culture of trial and error”. It provides an important impetus to do things better. On the other hand, we have to ensure that new technology does not cause severe damage. Especially because AI is a relatively new technology with unknown potential and consequences for the entire society.

Risks can arise for the financial system, but much further afield as well. Imagine, risk management or investment advice would be provided mainly by AI. Would this mean that investment recommendations are becoming more and more similar? Would we have concentration of risks? And what consequences would this have for financial stability?[5]

Even more far-reaching questions concern our society.

The core question is: What does AI mean for our democracies, for our constitutions, for our fundamental rights? Specifically, we need to ask ourselves: Where is AI beneficial and where do we need clear rules.

In other words: What are the basic rules for using this technology?

It is therefore necessary to find a compromise between having the courage to innovate – and clear rules.

3 Strengthening the financial industry

Regardless of how we deal with AI, we have to return to the issue of financing its development. As indicated earlier, the financial industry, as an enabler, has an important role to play.

Given the challenges of our time I mentioned earlier, it is vital to strengthen the European financial industry.

Let me highlight only two measures:

First, we need to get started on improving start-up funding. In 2024, more than 2,700 innovative start-ups were founded in Germany, the second-highest count after the record year of 2021. There is no shortage of innovative concepts and entrepreneurship per se, but implementation is lacking.

Further completing the European capital markets union (CMU) is essential in this respect – promoting the development of the VC and private equity market as well as exit options for start-ups. The European Commission’s “Competitiveness Compass”, published recently, 29 January 2025, is a good start.

Second, we need to leverage digital technologies to create efficient, integrated and resilient European financial markets. The digital CMU could be a game changer in this respect.

Let me make it perfectly clear: Europe is a leader in this field.

We at the Bundesbank are engaged in several initiatives. And we have a prominent role to play in the development of a central bank digital currency (wholesale CBDC).

4 Conclusion

Ladies and gentlemen, let me sum up: And I can be very brief, but still to the point.

The European Financial industry has to become an enabler of growth. Our Financial industry is key to ensure that the European economy stays competitive.

Thank you very much.
MIL OSI Economics –
February 13, 2025
MIL-OSI United Kingdom: Trefusis Park works to begin this year

Source: City of Plymouth

Work to transform Trefusis Park into a green solution to nearby flooding issues is set to begin later this year.

The scheme, which was consulted on for a second time in 2024, will see the park become home to a new sustainable drainage system.

As part of the works a seasonal wetland area will be installed to help reduce the risk of flooding to homes and businesses in the local area by safely storing water during heavy rainfall.

Having received funding for the scheme from the Environment Agency, we are working towards appointing a contractor in the near future, with the aim of starting work in in the Spring.

Councillor Tom Briars-Delve, Cabinet Member for the Environment and Climate Change, said: “I’m really pleased that this project is able to progress and that we’ll be able to get spades in the ground in the very near future.

“This project is not just crucial from an aesthetics and nature point of view but it’s also a key natural solution to flooding.

“We see time and again what happens when there is heavy rainfall in this area and I hope that residents and businesses in Lipson Vale will welcome this news.”

The Trefusis Park Flood Relief Scheme has been in development for several years.

It will provide new wildlife-rich habitats, including the planting of new trees and hedgerow, as well as new paths and seating. In addition, a new amenity pond will be created on the site of the old lake at the southern end of the park. A new half-sized basketball court will also be installed.

The scheme is required to alleviate flooding in Lipson Vale, particularly at its junction with Bernice Terrace, which has seen high rainfall cause persistent flooding for many years.

The seasonal wetland basins within the park will store surface water during heavy rainfall, which will then be slowly released back into the drainage system once the rain has passed and the system has capacity again. This will enable the drainage system downstream of the park to cope better and will also mean that roads and pavements will be less likely to close because of flood water.

The scheme will also allow South West Water to carry out work to stop surface water entering the combined foul sewer upstream of the park. This will further reduce the risk of flooding and improve water quality in the River Plym by reducing the number of combined sewer overflow (CSO) spills that occur during heavy rainfall.

Once South West Water’s works have been completed, 147 homes in the Lipson Vale area will be better protected from flooding.

A consultation on the scheme initially took place in November/December 2021 and with the feedback gathered, detailed designs and further environmental plans and surveys were produced. It soon became apparent that to continue with the scheme in its original form, nearly 100 trees would need to be felled, which was clearly at odds with the environmental focus of the project.

As a result, and following advice from a specialist arboriculturist, a revised design was drawn up, which while still requiring the removal of five trees, significantly reduces the amount that need to be felled. A second public consultation on the revised design took place in October 2024.

The five trees that need to be removed are set to be felled in late February 2025.

The Trefusis Park Ponds Project is being delivered by Plymouth City Council in partnership with the Environment Agency and South West Water,

More details about the scheme and ways in which you can share your views can be found at: www.plymouth.gov.uk/trefusisparkfloodreliefscheme

MIL OSI United Kingdom –

February 13, 2025
MIL-OSI USA: FEMA Is Still Here in South Carolina

Source: US Federal Emergency Management Agency

Headline: FEMA Is Still Here in South Carolina

FEMA Is Still Here in South Carolina

COLUMBIA, S.C. –If you are a Hurricane Helene survivor of South Carolina on your road to recovery, you should know that FEMA is still here. FEMA, collaborating with South Carolina Emergency Management Division, is focused on finding long-term recovery solutions for individuals and communities affected by the disaster. Survivors who have questions about their application can still contact FEMA online at DisasterAssistance.gov, use the FEMA App for mobile devices or call toll-free 800-621-3362.The telephone line is open daily, and help is available in many languages. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service. For a video with American Sign Language, voiceover and open captions. about how to apply for FEMA assistance, select this link.FEMA programs are accessible to survivors with disabilities and others with access and functional needs. To date, FEMA has provided more than $269 million in federal assistance to more than 242,000 individuals and households affected by Hurricane Helene in South Carolina. This money is offered to help pay for housing repairs, personal property replacement, and other recovery efforts.
gerard.hammink
Wed, 02/12/2025 – 13:55

MIL OSI USA News –

February 13, 2025
MIL-OSI USA: Disaster Recovery Centers in Coffee and Lowndes Counties to Close Permanently This Week; FEMA Representatives Relocating

Source: US Federal Emergency Management Agency

Headline: Disaster Recovery Centers in Coffee and Lowndes Counties to Close Permanently This Week; FEMA Representatives Relocating

Disaster Recovery Centers in Coffee and Lowndes Counties to Close Permanently This Week; FEMA Representatives Relocating

The Disaster Recovery Centers (DRC) in Coffee and Lowndes counties are set to close permanently this week. FEMA representatives will relocate to the U.S. Small Business Administration (SBA) Business Recovery Center (BRC) and Business Resource Assessment Center (BRAC) to continue assisting survivors for Tropical Storm Debby and Hurricane Helene. DRCs are currently open 8 a.m. to 6 p.m.Coffee County DRC – closing permanently at 6 p.m. Friday, Feb. 14Coffee County Service Center 1115 West Baker Hwy.Douglas, GA 31533Coffee County BRC – FEMA representatives will be here starting 10 a.m. Saturday, Feb. 15Satilla Regional Library200 S. Madison Ave.Douglas, GA 31533Hours: 10 a.m. to 6 p.m., Monday-Thursday; 10 a.m. to 4 p.m., Friday; 10 a.m. to 2 p.m., Saturday; closed Sunday. Lowndes County DRC – closing permanently at 6 p.m. Saturday, Feb. 15Valdosta State University Foundation, Inc.901 N. Patterson St.Valdosta, GA 31601Lowndes County BRAC – FEMA representatives will be here starting 10 a.m. on Tuesday, Feb. 18Lowndes County Civic Center, 2102 E. Hill Ave. Bldg. DValdosta, GA 31601Hours: Monday – Saturday: 9:00am – 5:00pm Sunday: ClosedThe Feb. 7 deadline for Georgia survivors of Tropical Storm Debby (Aug. 4–20) and Hurricane Helene (Sept. 24–Oct. 30) in the 63 counties designated for Individual Assistance to apply for FEMA disaster assistance has now passed. To check on the status of your application, go to DisasterAssistance.gov. You may also use the FEMA App for mobile devices or call toll-free 800-621-3362. The telephone line is open every day and help is available in most languages. You can also contact the Georgia Call Center at 678-547-2861 for assistance with your application or visit an SBA BRC or BRAC.
jakia.randolph
Wed, 02/12/2025 – 13:17

MIL OSI USA News –

February 13, 2025
MIL-OSI USA: Unicoi County’s Ballad Health Hospital Awarded $9.8 Million to Rebuild After Helene Flooding

Source: US Federal Emergency Management Agency

Headline: Unicoi County’s Ballad Health Hospital Awarded $9.8 Million to Rebuild After Helene Flooding

Unicoi County’s Ballad Health Hospital Awarded $9.8 Million to Rebuild After Helene Flooding

The State of Tennessee and FEMA have approved $9.8 million to replace Ballad Health’s hospital in rural Erwin which was destroyed when Tropical Storm Helene swept across Eastern Tennessee in late September. The 10 in-patient bed hospital, which sits along the banks of the Nolichucky River in the southern Appalachian mountains, has been serving the local community and surrounding agricultural area since 1953. Over the years, it has expanded and modernized, offering bone density testing, echocardiography, the latest diagnostic imaging technology and a sleep medicine lab. The newest facility was completed in October 2018 at a cost of $30 million.Helene’s floodwaters encircled the Ballad Health hospital on Sept. 27, rising at least 8 feet inside the single-story building, racing through examining rooms, labs and patient rooms. Trained hospital and National Guard pilots used helicopters to airlift patients and staff to safety from the roof. Emergency workers also rescued dozens of people by boat to a nearby high school. Under FEMA’s Public Assistance program, FEMA’s share to rebuild the hospital is $7,389,240; the nonfederal share is $2,463,080. Work to be completed includes architectural and engineering design services that use modern best construction practices and applicable codes and standards.The cost estimate for replacing the hospital was generated using FEMA’s Rapid Assessment with Public Infrastructure Data, which uses geospatial and aerial imagery as well as available Federal Highway Administration and State Department of Transportation data. The scope of work will be updated when the surveys and assessments are completed. Because Public Assistance is a cost-sharing program, FEMA reimburses state applicants 75% of the eligible costs of repairs to existing structures. The federal share is paid directly to the state to disburse to agencies, local governments and certain private nonprofit organizations that incurred those costs. The remaining 25% represents nonfederal funds.The Public Assistance program is FEMA’s largest grant program, providing funding to help communities responding to and recovering from major presidentially declared disasters or emergencies. Helene swept across Tennessee Sept. 26-30 and the president approved a major disaster declaration on Oct. 2, allowing FEMA to pay for disaster-damaged infrastructure.
kwei.nwaogu
Wed, 02/12/2025 – 19:58

MIL OSI USA News –

February 13, 2025
MIL-OSI USA: Cantwell Introduces Coast Guard Reauthorization Bill, Secures Wins for WA Environment & Tribes

US Senate News:

Source: United States Senator for Washington Maria Cantwell
02.12.25
Cantwell Introduces Coast Guard Reauthorization Bill, Secures Wins for WA Environment & Tribes
Bill would authorize USCG “Whale Desk” for additional 2 years to help ships steer clear of Puget Sound Orcas and other whales
WASHINGTON, D.C. – Yesterday, U.S. Senator Maria Cantwell (D-WA) Ranking Member of the Senate Committee on Commerce, Science, and Transportation, introduced the bipartisan Coast Guard Authorization Act of 2025 that would reauthorize $30.45 billion for the U.S. Coast Guard for Fiscal Years 2025 and 2026.
“This legislation prioritizes the Coast Guard’s most important asset—the men and women of the Coast Guard, and their families,” said Sen. Cantwell. “The bill drives much needed reforms that will help prevent sexual assault and sexual harassment throughout the Coast Guard, including establishing confidential reporting, strengthening protective orders, expanding access to care for victims, and stronger accountability for leadership. Admiral Fagan made great progress during her term, and the next Commandant will need to continue to be a steady force that stands up for service members.
“The bill also establishes a new Vice Admiral dedicated to improving recruitment, health care and child care for members. The bill also increases funding for core Coast Guard missions such as shipbuilding and cracking down on illegal fishing and drug smuggling.”
Among many important provisions, the legislation includes historic protections for sexual assault and harassment, boosts workforce development programs and availability of affordable housing, increases funding to help U.S. Coast Guard deliver on critical priorities such as icebreakers and 52-foot heavy-weather lifeboats, raises penalties for abandoned and derelict vessels, and encourages more collaboration with Tribes.
The legislation authorizes $14.93 billion for FY25 and $15.51 billion for FY26. The full bill text of the bipartisan U.S. Coast Guard Authorization Act of 2025 is available HERE.
Sen. Cantwell secured language for programs critical to Washington state in the legislation. Among those provisions, her bipartisan legislation:
Expands Affordable Housing Opportunities: Allows the Coast Guard to acquire housing that is available both on the market and in new housing construction programs. This is particularly important in coastal areas — like Cape Disappointment, Grays Harbor, and Port Angeles — where Coast Guard families face a difficult time accessing affordable, quality housing due to competition with seasonal rentals and other challenges associated with remote units. This bill also expands the Coast Guard’s ability to enter into long-term leases for medical facilities, child development centers, and training facilities to expand access to services for Coast Guard families while reducing administrative overhead expenses and allowing for additional improvements to these facilities.
Increases Federal Funding to Deliver on Icebreakers and Heavy Weather Lifeboats: The legislation increases authorized funding by 30% compared to 2024 appropriated funding levels, which will help the Coast Guard deliver on critical priorities such as polar icebreakers, 52-foot heavy-weather lifeboats, and other priority acquisition programs.
Seattle will be home for the Coast Guard’s fleet of 3 polar icebreakers.
Sen. Cantwell recently toured U.S. Coast Guard Station Disappointment, where the future fleet of heavy-weather lifeboats will be homeported to support search and rescue missions, which is critical to safety of people working in the fishing and maritime sector in Pacific and Grays Harbor counties. In 2023, Sen. Cantwell secured a downpayment of $12 million to replace the heavy-weather boats in the 2023 Appropriations Act.
Creates the First-Ever Tribal Advisor: Creates a new senior position within the Coast Guard to advise the Commandant and other Coast Guard leaders on how the Coast Guard can work more closely with Tribes. The new Special Advisor would also be charged with ensuring the Coast Guard upholds trust responsibilities to tribal governments, improving tribal engagement and consultation activities, and ensuring that Tribes have a voice on Coast Guard programs that impact tribes including oil spill preparedness and response, fisheries oversight, and the protection of natural resources.
Boosts Local Tribal Partnerships to Improve Conservation: Provides the Coast Guard with new authorities to support habitat conservation and other resilience projects with state, local, and tribal governments. This important new authority would ensure tribes and other organizations can partner with the Coast Guard to protect treaty fishing rights and maintain access to cultural and natural resources.
Reauthorizes the Whale Desk: Extends the Whale Desk at Coast Guard Sector Puget Sound by two years, through FY2028. Authored by Senator Cantwell in the Coast Guard Reauthorization Act of 2022, the “Whale Desk” at Sector Puget Sound gives vessel operators and mariners near real-time data about the location of whales to reduce encounters that disturb whales, including noise pollution and ship strikes. The pilot program also includes a “hotline” where callers can report whale sightings in real time. The data collected will be valuable for researchers who track whale migration patterns.
According to the Coast Guard, 75 whale sightings have been reported to the Sector Puget Sound Whale Desk since its opening in December 2023.
Sen. Cantwell helped celebrate the launch of the Whale Desk in February 2024. Photos and videos are available HERE and HERE.
Supports the Commercial Fishing and Maritime Industries: Continues to authorize the use of a satellite tracking system to mark fishing gear locations, which ensures gear is not lost and avoids potential damage by derelict gear. It also supports fishing vessels engaging in temporary towing operations as part of salmon hatchery development in Alaska. The bill also creates new training and credentialing opportunities for qualified mariners, veterans, and the general public seeking to become mariners. It also expedites processing times for merchant mariner licensing documents to help close this critical workforce gap.
Maps Arctic Maritime Routes: The Bering Sea is expected to see increased fishing, commercial, and other vessel traffic over the coming decades. As a key international trade and maritime route, this bill requires an analysis of projected traffic in the Bering Strait, and the emergency response capabilities and infrastructure needed to support this increased vessel traffic and prevent oil spills in the Bering Sea and the Arctic.
Boosts International Pacific Cooperation: Requires the Coast Guard to develop a plan to increase international training opportunities in the Pacific, including with the Taiwan Coast Guard. This coordination will strengthen American relations, combat illegal fishing, and boost international security in the Pacific.
Cracks Down on Abandoned Vessels: Improves oversight of derelict and abandoned vessels by requiring the Coast Guard to develop and maintain an inventory list of these vessels to improve tracking, management, and coordination between federal, state, tribal, and other relevant entities. It authorizes a new federal penalty of $500 a day for abandoning vessels.
Abandoned and derelict vessels pose unique and costly threats to coastal communities and ecosystems by leaking pollutants and imperiling marine traffic. According to the WA Department of Natural Resources, DNR removed 319 derelict and abandoned boats from Washington state waterways 2021-2023.
Protects Personnel from Illicit Drug/Fentanyl Exposure: As the Coast Guard carries out important drug interdiction missions to stop the flow of illegal drugs, this bill requires all installations to maintain a supply of naloxone or similar medication to treat opioid or fentanyl overdoses or exposure by Coast Guard members and the public in search and rescue or response calls.
Require Stronger Sexual Assault and Sexual Harassment (SASH) Prevention and Response: The bill would establish or update numerous Coast Guard and Academy authorities and programs to improve reporting, oversight, prevention, and accountability related to sexual misconduct. These provisions were drafted in response to Operation Fouled Anchor, which revealed gross mishandling of sexual assault and sexual harassment cases of U.S. Coast Guard personnel.
A full breakdown of these protections is available HERE.
Supporting Coast Guard Families Stationed in Washington:
Creates the First Vice Admiral of Personnel: To support the more than 40,000 active service members, the bill establishes a new Vice Admiral leadership position solely focused on supporting the needs of personnel and their families, from housing to health care, investments in childcare, and improving recruitment and training programs.
Jump Starts Hiring of Health and Family Service Providers Across Entire Service: Provides direct hiring authority to swiftly fill more than a hundred vacancies, including behavioral and mental health professionals, medical specialists, childcare service providers, housing supervisors, criminal investigators, and other positions to protect the health and wellbeing of Coast Guard members and their families. It also adds two new telemedicine rooms at the Coast Guard Academy.
Improves College-to-Service Career Pathways: Updates the College Student Pre-Commissioning Program to allow more colleges and universities to participate and to increase recruitment of students interested in commissioning into a Coast Guard career.
Prepares Tsunami Evacuation Plans: Requires the development of tsunami evacuation and preparedness plans for Coast Guard units in tsunami zones, including across the West Coast and Pacific Northwest. It also requires the Coast Guard to consider vertical evacuation as a lifesaving option for Coast Guard members.
National Oceanic and Atmospheric Administration (NOAA)
Supports NOAA Corps Officers: To support the hundreds of NOAA’s commissioned officers, the bill makes improvements to personnel management, education assistance programs, pilot recruitment programs, and more. NOAA Corps members help manage maritime research, support disaster response, and monitor weather forecasting including hurricanes and atmospheric rivers, as well as performing other cutting-edge weather forecast and research needs.
Modernizes NOAA Vessel Fleet: Authorizes replacement and modernization of the NOAA research vessel fleet and improves oversight of the fleet, which helps maintain our nation’s weather and scientific buoy network, conducts fisheries research, maps the ocean floor including in the Arctic, and supports other important oceanographic and conservation priorities.
Removes Aging NOAA Vessels: Allows NOAA to use the proceeds of obsolete vessel sales to support the acquisition or repair of other NOAA vessels to help make the fleet more resilient in the future.

MIL OSI USA News –

February 13, 2025
MIL-Evening Report: A new report card shows inequality in Australia isn’t as bad as in the US – but we’re headed in the wrong direction
Source: The Conversation (Au and NZ) – By Cameron Allen, Senior Research Fellow, Monash University

Shutterstock

It’s hard to remember a time the United States seemed as tense and divided as it does today. That should serve as a stark reminder of just how important it is to monitor the health of our own nation.

Today, our new report card on Australia’s progress will be launched in Canberra. It assesses progress on 80 economic, social and environmental targets and models a range of policy shifts that could boost progress.

We find that progress on more than half of these targets has either stagnated or is going backwards. And growing inequalities threaten the wellbeing of many Australians.

Our report comes on the heels of America’s own State of the Nation report, which puts the US near the bottom of global rankings on inequality, violence, trust and polarisation.

The situation in Australia is not yet as dire. However, our results signal a need to start thinking long-term and take bold action on inequality to avoid a similar fate.

Not an A+ student overall

Our report draws on the 17 UN Sustainable Development Goals (SDGs) to select a broad and balanced set of 80 economic, social and environmental indicators.

Each of our indicators can be grouped under one of these 17 goals and includes a 2030 target. We use this target to evaluate progress and allocate “traffic lights” that tell us about the direction in which the country is moving.

We also benchmark Australia against peer nations from the OECD, including the US.

The overall outlook for Australia is mixed. We aren’t completely on track to meet any of the 17 SDGs. And on some indicators, Australia is actually going backwards, away from the target.

Many areas of concern centre on increasing inequality. These include:
- a 30% decline in the share of wealth held by the bottom 40% of Australians since 2004
- almost 20% of Australians living in financial stress
- over 40% of lower-income renter households living in housing stress
- household debt levels now exceed Australia’s annual gross domestic product (GDP).
There are also some broader economic concerns. Australia’s level of investment in innovation is nearly 40% below OECD averages. Economic complexity – which measures the sophistication and diversity of what our economy produces – has fallen behind Honduras, Armenia and Uganda.

And there’s been a rapid decline in education outcomes for students from lower socio-economic groups.

Shining in some areas

On the other hand, Australia is on track and actually leading our peers in life expectancy, road fatalities, tertiary education, water efficiency and government debt.

We’re also above average on closing gender gaps in both income and political representation. Australia also has very low homicide rates and high feelings of safety and trust compared to our peers.

Australia has made some progress on gender equality.
Andrii Zastrozhnov/Shutterstock

In some key areas, Australia is actually trending rapidly towards SDG targets.

The gender gap in superannuation, for example, has fallen from 53% in 2014 to 21% in 2021.

The share of renewable electricity in our national energy grid has climbed to 35% and greenhouse gas emissions are steadily falling.

And rates of unemployment, underemployment and youth unemployment have all declined to within or closer to SDG target levels of below 5-6%.

How does the US compare?

America’s State of the Nation report, which tracks progress on a range of similar measures to our report, paints a bleak picture.

There are only four measures where the US performs in the top 20% of high-income countries – economic output, productivity, years of education and long-term unemployment.

Compared to Australia, the US outperforms us on average per-capita income, investments in research and development and knowledge-based capital, economic complexity, household debt and broadband connection speeds.

But despite their apparent economic success, mental health and life satisfaction have deteriorated. Social connections are fraying with increased social isolation, polarisation and eroding trust.

Tragically, suicide rates, fatal overdoses and shootings have increased.

Far worse on some measures

In areas where Australia is also trending backwards, things in the US are often far worse.

Income and wealth inequality, for example, are much higher in the US. The top 1% of Americans hold around 35% of wealth – compared to 24% for the top 1% of Australians.

US welfare payments are almost 90% below the poverty line and the poverty rate is 30% higher than in Australia. Yet US government debt as a share of GDP is almost double that of Australia.

This stark contrast suggests America’s approach to pursuing material prosperity is undermining social wellbeing, with rising inequalities fuelling social tensions and polarisation.

Bold action needed

For the first time, our new report models two future scenarios for Australia, exploring policies that reverse negative trends and accelerate progress towards SDG targets by 2050.

Our modelling shows that with increased policy ambition, Australia can halve poverty and reduce income inequality by a third. We can also boost health, education and productivity, improve biodiversity, and deliver net-zero greenhouse gas emissions.

To do it, we’d need to increase public investment by around 7% a year over 10 years in key areas such as education and health, disaster resilience, sustainable food, energy and urban systems and the natural environment.

Our modelling shows that with these measures, Australia could achieve 90% of our Sustainable Development Goal targets by 2050.

Without them, our future prosperity is projected to stagnate and decline by 2050, reaching just 55% progress towards our targets and with GDP around A$300 billion lower than our more ambitious scenario.

There’s a famous aphorism that in the long run, economic productivity is almost everything. The social fissures in the US despite a strong economy would suggest otherwise.

Australia should take note and take action to ensure the long-term sustainable prosperity of our nation.

Cameron Allen receives funding from the Australian Research Council.

John Thwaites is Chair of Monash Sustainable Development Institute and Climateworks Centre which receive funding for research, education and action projects from the Commonwealth and state governments as well as from philanthropy and industry. He is a former Deputy Premier of Victoria (1999 – 2007)

– ref. A new report card shows inequality in Australia isn’t as bad as in the US – but we’re headed in the wrong direction – https://theconversation.com/a-new-report-card-shows-inequality-in-australia-isnt-as-bad-as-in-the-us-but-were-headed-in-the-wrong-direction-249579
MIL OSI Analysis – EveningReport.nz –
February 13, 2025
MIL-OSI USA: Governor Stein Announces Additional Team Members

Source: US State of North Carolina

Headline: Governor Stein Announces Additional Team Members

Governor Stein Announces Additional Team Members
lsaito
Wed, 02/12/2025 – 13:38

Raleigh, NC

Today, Governor Stein announces additional staff as he continues to grow his team committed to building a safer, stronger North Carolina.

Adam Chandler, Policy Director

Adam Chandler is a native of Burlington, North Carolina, and a 12-year veteran of the U.S. Department of Justice, where he served most recently as Associate Deputy Attorney General and Chief of Staff to the Deputy Attorney General. Adam previously practiced at the Department as an appellate attorney, specializing in antitrust law, and served as a speechwriter for two attorneys general. He graduated from Yale Law School; the University of Oxford, where he studied as a Rhodes Scholar; and Duke University.

Kindl Detar, Senior Policy Advisor

Kindl Detar previously served as a Special Deputy Attorney General and the Director of the Public Protection Section at the North Carolina Department of Justice. Prior to her state government service, she worked at Foundation For The Carolinas and Robinson Bradshaw. Kindl is a graduate of the University of North Carolina at Chapel Hill and the University of Pennsylvania School of Law. A native of Concord, she resides in Charlotte with her husband and three children.

Sadie Weiner, Senior Advisor

Sadie Weiner has worked in state and federal government and campaigns for almost two decades. She served in the Office of Governor Roy Cooper first as Communications Director and most recently as Director of External Affairs. Previously, Weiner was the Communications Director of the Democratic Senatorial Campaign Committee (DSCC), supporting campaigns across the country and picking up two Senate seats. She was also the Communications Director for U.S. Senator Kay Hagan in both her Senate office and her re-election campaign. Weiner lives in Raleigh with her husband and two children.

Awo Eni, Digital Director

Awo Eni returns to North Carolina after working on Cheri Beasley’s campaign for Senate in 2022 as the Deputy Digital Director. She most recently served as Director of Digital Content on Senator Sherrod Brown’s campaign for re-election in Ohio. Awo is a proud British-born Nigerian-American immigrant who calls Texas home. She is a graduate of the University of North Texas.

Liz Doherty, Policy Advisor

Liz Doherty joins the Stein Administration as a policy advisor in the Governor’s office. Prior to this role, she served as a policy advisor to Governor Roy Cooper and held various campaign roles, including as Governor Cooper’s communications director in 2020. She also serves as a board member on the NC Council for Women and completed a Master’s of Public Policy from the Duke University Sanford School in 2023.

Rania Hassan, Policy Analyst

Rania Hassan is a policy analyst in the Office of Governor Josh Stein. She previously worked as policy assistant and analyst in the Office of Governor Roy Cooper. She graduated from NC State University with a B.S. in Environmental Science and a minor in Environmental Policy and Justice.

Madhu Vulimiri, Senior Advisor for Health & Families Policy

Madhu Vulimiri joins the Governor’s Office from the North Carolina Department of Health and Human Services, where she served as the Deputy Director for the Division of Child and Family Well-Being overseeing nutrition programs that support children and families. Prior to that, she led cross-agency priority initiatives at NCDHHS, including in the COVID-19 response, in chief of staff and senior strategy roles to the Chief Deputy Secretary of NCDHHS and at NC Medicaid. She earned her Bachelor of Science in Public Health from the University of North Carolina-Chapel Hill, where she was a Morehead-Cain Scholar, and her Master of Public Policy from Duke University, where she was a Margolis Scholar in Health Policy and Management.

Elena Ashburn, Senior Advisor for Education Policy

Elena Ashburn joins the policy team after serving as an area superintendent in the Wake County Public School System, where she led 17,000 students in 23 schools. She began her career in education as a Teach For America teacher and later served as a middle and high school principal. Elena earned a doctorate in educational leadership from UNC Chapel Hill and was named the North Carolina Wells Fargo Principal of the Year in 2021.

Jonathan Moch, Senior Advisor for Climate & Energy Policy

Jonathan Moch was most recently Science and Technology Policy Advisor for the Office of the Special Presidential Envoy for Climate and Office of Global Change in the U.S. Department of State, where he designed, negotiated, and implemented international climate and energy initiatives and agreements. Prior to the State Department, he was an interdisciplinary Postdoctoral Fellow with joint appointments in Harvard’s engineering, public health, and government schools. Jonathan holds a Ph.D. in Earth and Planetary Sciences with a secondary field in Science, Technology and Society, a master’s in Environmental Science and Engineering from Harvard University, and an undergraduate degree from Princeton University.

P.J. Connelly, Director of the Governor’s Eastern North Carolina Office

P.J. Connelly will serve as the Director of the Governor’s Eastern North Carolina Office. He served in this role for former Governor Roy Cooper from 2022 to 2024. Prior to that, Connelly served North Carolina’s rural communities through the Governor’s Hometown Strong Initiative. He also served as Assistant Director of Boards and Commissions in the Office of the Governor from 2017 to 2019. Connelly is from New Bern, North Carolina.

Feb 12, 2025

MIL OSI USA News –

February 13, 2025
MIL-OSI Global: Many Canadian households are being shortchanged from retrofit programs — this needs to change

Source: The Conversation – Canada – By Kareman Yassin, Assistant Professor, Hitotsubashi University

Canada has set an ambitious goal to reduce greenhouse gas emissions by 45 to 50 per cent below 2005 levels. This puts pressure on the residential and commercial building sector, which is responsible for about 18 per cent of national greenhouse gas emissions, to help meet this target.

Since most of Canada’s 16 million homes are expected to still be in use by 2050, the path to net-zero requires upgrading existing homes, not just constructing new net-zero ones.

To address this, retrofit programs that improve home energy efficiency have become one of Canada’s main strategies to cut emissions in the housing sector. These programs focus on upgrades like air sealing, enhanced insulation, upgrading heating and cooling systems and installing energy-efficient windows and doors.

But do these programs deliver on their promises of lower bills and reduced carbon emissions? Our recent study, forthcoming in Energy Economics, examined the outcomes of the federal ecoENERGY home retrofit program, a predecessor to the Greener Homes Initiative.

Our findings shed light on where the program succeeded, where it fell short and what this all means for Canadian families and policymakers moving forward.

Real-world energy savings

Our study analyzed a decade of monthly electricity and natural gas consumption data from Medicine Hat, Alta., where residents participated in the federal ecoENERGY retrofit program that was in place between 2008 to 2012.

We found that households undertaking comprehensive envelope retrofits — which includes insulation and air sealing — reduced their total energy use by an average of 25 per cent per household. Natural gas usage dropped by 35 per cent on average for these same households, and these savings lasted for at least 10 years after the retrofit.

This suggests that such retrofits hold promise for meaningful, long-lasting energy reductions, especially for home heating, which makes up a large part of residential energy use in Canada.

However, our study found that homes achieved only about 60 per cent of the predicted savings projected in pre-retrofit estimates. While measures like air sealing and attic and wall insulation were relatively effective, other upgrades, such as basement insulation and energy-efficient windows, showed zero effect on energy use.

This gap between projected and actual savings suggests that the estimates shown to households during pre-retrofit audits might be overestimating the benefits. This could leave families with lower-than-expected savings on their energy bills after making significant financial investments. These findings align with similar studies in the United States and Europe, where realized energy savings hover at around 60 per cent of pre-retrofit projections.

Despite this gap, there are promising opportunities for low-cost, high-return investments. Our research suggests that relatively cheap measures like air sealing generate high returns. Adopting electric heat pumps and fuel switching also show promise for delivering both energy savings and reductions in greenhouse gas emissions.

The need for broader participation

Our study also revealed significant gaps in program access and the distribution of benefits. Although the ecoENERGY program was available to all Canadian households, participation was highest among families of mid-valued houses.

Participation among families in lower-valued houses was disappointingly low: about four per cent of the families in lowest-valued houses took part, even though they stood to benefit the most from reduced energy bills. Homes in our study saw bill savings ranging from eight to 17 per cent, based on a comparison of their actual consumption before and after the retrofit. The highest savings were observed in homes with assessed values of $100,000.

Middle-valued homes with the highest retrofit program participant rate tended to save the least amount of money; this group had average gas bill reductions of approximately 10.5 per cent.

The maximum amount that could be claimed under the ecoENERGY program was $5,000, yet the average rebate received was $1,100. This disparity not only limited the program’s potential to reduce emissions on a large scale, but also means Canada’s current approach to energy retrofits may be missing an opportunity to improve energy affordability for those who need it most.

Room for improvement

Energy-saving retrofits have significant potential, but current prediction models often overestimate the savings homeowners can achieve. Improving these models could allow homeowners to make better-informed choices, leading to greater efficiency and improved household welfare.

Upfront costs also remain a significant barrier, particularly for lower-income families. Many cannot afford the upfront expenses associated with retrofitting their homes. Expanded financial support, such as rebates or no-interest loans, may provide much-needed support necessary to allow more households to participate, and more research is needed to evaluate how best to incentivize household participation.

Another major challenge is a lack of awareness. Many Canadians are unaware of the benefits of deep retrofits. Public awareness campaigns, possibly delivered in collaboration with community organizations, may also help educate homeowners on the long-term value of retrofits and make the process more accessible and appealing.

Our project is the first in Canada to use detailed household-level data to assess energy savings from retrofits in houses of various values. We were able to achieve this through partnerships between academia, utilities and the federal government. Such collaborations are crucial for advancing research that informs effective policies and programs.

As Canada advances toward net-zero emissions by 2050, energy-efficient housing should remain central to its climate strategy. Achieving sustainable progress in this area will require retrofit programs that deliver on their promises by enhancing household welfare, addressing energy affordability and ensuring continued public support.

Maya Papineau receives funding from Social Sciences and Humanities Research Council and the National Science and Engineering Research Council and the National Research Council of Canada.

Nicholas Rivers receives funding from the Social Sciences and Humanities Research Council and the National Science and Engineering Research Council. He is affiliated with the Canadian Climate Institute.

Kareman Yassin 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. Many Canadian households are being shortchanged from retrofit programs — this needs to change – https://theconversation.com/many-canadian-households-are-being-shortchanged-from-retrofit-programs-this-needs-to-change-236388

MIL OSI – Global Reports –

February 13, 2025
MIL-OSI Canada: Funding supports culturally safe emergency responses for Indigenous Peoples

Source: Government of Canada regional news

The Community Emergency Preparedness Fund (CEPF) is funded by the Ministry of Emergency Management and Climate Readiness and administered through the Union of British Columbia Municipalities. The CEPF funds projects that support First Nations and local governments to better prepare for disasters and reduce risks from hazards in a changing climate.

Communities throughout British Columbia will receive approximately $1 million in provincial funding as follows:

Boothroyd Indian Band – Knowledge keepers’ information and sharing for culturally safe emergency response
Amount: $31,000

Bulkley-Nechako Regional District – Cultural competency in emergency-response training
Amount: $31,650

Central Okanagan Regional District – Cultural safety and humility training
Regional partners: Kelowna, Peachland, Lake Country, Westbank First Nation, West Kelowna
Amount: $237,000

Coquitlam – Cultural safety and humility training
Amount: $40,000

East Kootenay Regional District – Indigenous cultural awareness training
Amount: $25,000

Fraser Valley Regional District – Contextual cultural awareness training
Amount: $40,000

Hope – Cultural safety training
Amount: $39,600

Ka:’yu:’k’t’h’/Che:k’tles7et’h’ First Nations – Training for emergency responders to work effectively and safely with the Ka:’yu:’k’t’h’/Che:k’tles7et’h’
Amount: $40,000

Kamloops – Emergency program cultural safety and humility training
Amount: $40,000

Kitimat – Haisla Nation cultural awareness training
Amount: $10,000

Merritt – Emergency-management program Indigenous engagement
Amount: $40,000

North Coast Regional District – Indigenous cultural safety and humility training
Regional partners: Prince Rupert, Port Edward
Amount: $110,000

North Vancouver – Truth and reconciliation training
Amount: $33,960

Port Moody – Indigenous cultural safety and cultural humility training
Amount: $40,000

Sema:th First Nation (Sumas) – Transforming emergency management through cultural safety
Amount: $40,000

Splatsin First Nation (Spallumcheen) – Resilient Roots: cultural safety in emergencies
Amount: $40,000

Sqwá First Nation (Skwah) – Community capacity building to foster shared understanding of trauma in emergency response
Amount: $40,000

Strathcona Regional District – This Territory You Are On training
Regional partners: Village of Tahsis, Gold River, Klahoose First Nation, Xwémalhkwu (Homalco) First Nation, Nuchatlaht First Nation, Ehattesaht
Amount: $157,300

Vernon – Cultural safety educators
Amount: $40,000

West Vancouver – Reconciliation, equity, diversity and inclusion workshop
Amount: $40,000

MIL OSI Canada News –

February 13, 2025

Category: Climate Change

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