Category: Climate Change

  • MIL-OSI Europe: Czech Republic to step up railway improvements with EIB loan of €466 million

    Source: European Investment Bank

    • EIB lends Czech Republic €466 million (11.75 billion Czech korunas) to upgrade key railway lines in country.
    • Financing support to deployment of European Rail Traffic Management System (ERTMS) and creation of safer level crossings.
    • Project highlights Europe-wide push for rail-service improvements.

    The European Investment Bank (EIB) is lending the Czech Republic €466 million (11.75 billion Czech korunas) to upgrade key railway lines across the country, highlighting a push for safer, faster and cleaner transport. The EIB loan will cover technological and design improvements on Czech rail routes that are part of the Trans-European Transport Network (TEN-T) for trains and that connect to countries including Austria and Poland. 

    The Czech Ministry of Finance will direct the EIB credit to the national railway infrastructure administrator, Správa železnic, which will manage the planned works.  These include deploying the European Rail Traffic Management System (ERTMS) on rail lines, retrofitting maintenance vehicles with ERTMS equipment and re-designing level crossings to make them safer.

    The new financing is part of a circa €1 billion funding package approved by the EIB in 2023 for improving Czech railways. The overall goals are to make rail travel in the country safer and faster as well as to encourage a shift away from road transport as part of efforts to slash emissions that cause climate change.

    “The new loan exemplifies our commitment to supporting sustainable transport infrastructure in the Czech Republic,” said EIB Vice-President Kyriacos Kakouris. “By modernising the railway network, we are not only improving the quality of rail services but also contributing to a greener and more sustainable future.”

    The upgrades to be financed by the new EIB credit are due to be completed by the end of 2028 and include roughly 40 individual projects throughout the country. Their geographical spread reflects EIB and European Union goals to deepen regional cohesion as well as tackle globalwarming.

    “Today’s signing of the loan agreement is yet another confirmation of our long-term cooperation with the EIB in modernizing the Czech transport infrastructure. The EIB provides an opportunity to finance major projects under favourable terms for the Czech Republic. By utilizing this loan, Správa železnic can secure subsidies for individual projects from the European Just Transition Mechanism, further enhancing the effectiveness of this financing method,” said Czech Finance Minister Zbynek Stanjura.

    Rail upgrades in the Czech Republic and other European countries will help the EU meet a goal of becoming climate neutral by 2050.  

    „I am very pleased that the EIB’s continued support confirms our readiness to contribute to the development of modern railways to ensure quality and environmentally friendly transport on both the national and trans-European transport network. At the same time, it proves the high quality of our projects also in comparison with other countries, ” commented Czech Transport Minister Martin Kupka.

    This underlying EIB loan also supports the reconstruction of eight railway stations across all three coal regions of the Czech Republic, which is a set of projects that were also selected for a grant from the European Commission under the Public Sector Loan Facility, the third pillar of the Just Transition Mechanism.                                                           

    “The eight railway stations spanning from the westernmost city of Cheb to Ostrava, the capital of the Moravia-Silesia region, have been selected for PSLF grants of more than EUR 20 million,” said Paloma Aba Garrote, Director of the European Climate, Infrastructure and Environment Executive Agency, or CINEA. “The reconstruction of these important public buildings will improve passenger comfort and safety, as well as accessibility for people with disabilities and improve energy efficiency. Moreover, some of these buildings will be refurbished and repurposed to accommodate new office and retail space, which will contribute to the economic revitalisation of the municipalities.”

    Background information

    About the EIB and the Czech Republic

    The European Investment Bank (EIB) is the long-term lending institution of the European Union. It finances sound investments contributing to EU policy goals. The EIB Group invested €2.47 billion (or CZK 63 billion) in the Czech Republic in 2024, supporting regional development and boosting economic resilience while also enhancing environmental sustainability and improving quality of life.

    About PSLF and Just Transition Mechanism (JTM)

    The Public Sector Loan Facility aims at alleviating the social and economic effects of the transition towards climate neutrality in the EU regions. It is a blending facility that combines loans from the EIB with grants from the European Commission to help mainly public sector entities in the most affected EU regions identified in the territorial just transition plans, to mobilise additional public investments and meet their development needs in the transition towards climate neutrality. The first PSLF call for proposals was launched on 19 July 2022 with 10 intermediate cut-offs until the end of 2025. There are 3 cut-off dates per year planned until the end of 2025. The next call for proposals will be launched in the second half of 2025.

    To find out more about PSLF and PSLF-funded projects, visit CINEA website.

    About DG REGIO

    The Directorate-General for Regional and Urban Policy (DG REGIO) is a department of the European Commission responsible for EU policies on regions and cities. It develops and carries out the Commission’s policies on regional and urban policy. It assists the economic and social development of the developed and less developed regions across the European Union.

    CINEA

    The European Climate, Infrastructure and Environment Executive Agency (CINEA) is an Executive Agency established by the European Commission to implement parts of EU funding programmes for transport, energy, climate action, environment and maritime fisheries and aquaculture.

    CINEA aims is to support its beneficiaries, establish strong partnerships, deliver high-quality programme and project management, foster effective knowledge sharing and create synergies between programmes – to support a sustainable, connected, and decarbonised Europe.

    MIL OSI Europe News

  • MIL-OSI Europe: Czech city Ústí nad Labem to get green upgrades with EIB loan of almost €43 million

    Source: European Investment Bank

    • EIB lends €42.8 million to Ústí nad Labem in north-west Czechia to upgrade municipal infrastructure.
    • Loan to cover building, transport and energy renovations.
    • Improvements also planned for education and social care.

    The European Investment Bank (EIB) is lending €43 million (CZK 1.08 billion) to the Czech city of Ústí nad Labem for a range of green and social improvements, highlighting a Europe-wide push for urban renewal and sustainability.

    Ústí nad Labem, with a population of around 90 000 located near the Czech border with Germany, will use the EIB loan to refurbish buildings, enhance energy efficiency, develop clean power and upgrade services, including public transport, education and social care.

    The city is an industrial centre where a number of Czech manufacturing companies are located. It has a port on the river Elbe and serves as a major road and railway hub. The European Union seeks to make all cities climate-neutral by 2050 to combat global warming.

    “This loan to Ústí nad Labem underscores our commitment to empowering cities in their transition towards climate-neutral and sustainable growth. By modernising infrastructure, improving energy efficiency and advancing renewable energy investments, we are enhancing quality of life while building a greener, more inclusive and resilient future for people,” said EIB Vice-President Kyriacos Kakouris.

    Part of the EIB loan will go to works at the municipal zoo, including upgrading animal pavilions, visitor areas and energy and water management. These efforts support climate action by reducing greenhouse gas emissions.

    The EIB loan stems from an EU initiative, the Just Transition Mechanism (JTM), which aims to address the social and economic impacts of transitioning to a climate-neutral economy. By blending loans from the EIB with grants from the European Commission, JTM supports investments in the regions most affected by this transition, ensuring no community is left behind. Accordingly, the EIB will finance up to 72% of the overall project costs, complemented by funding from EU grants and the city’s budget. The project promoter benefits from the support of the InvestEU Advisory Hub and will apply for a Public Sector Loan Facility (PSLF) grant, which would amount to 25% of the EIB loan amount.  

    The EIB loan aligns with the city’s development strategy supporting sustainable urban renewal. The EIB will also advise the City of Ústí in terms of conducting investments in municipal infrastructure, zoo pavilions, water management and energy savings.

    “Public housing, mobility and energy are key topics in our transformation process and in the long-term and sustainable direction of the city, and I am very pleased that we have managed to secure financing for these types of projects through cooperation with the EIB. I believe that we are only beginning our cooperation with the EIB, that will significantly advance the city and our zoo, which can become a truly modern and energy-self-sufficient area. We are also striving to access EIB support within the ELENA programme,“ said Ústí nad Labem Mayor Petr Nedvědický.          

    This EIB loan overcomes obstacles to market financing, ensuring that Ústí nad Labem can invest in essential public goods, services and a sustainable future.

    Background information

    About the EIB and Czechia

    The European Investment Bank (EIB) is the long-term lending institution of the European Union. It finances investments contributing to EU policy goals. The EIB Group invested €2.47 billion in Czechia in 2024, supporting regional development and boosting economic resilience while also enhancing environmental sustainability and improving quality of life.

    About PSLF and the Just Transition Mechanism

    The Public Sector Loan Facility aims to alleviate the social and economic effects of the transition towards climate neutrality in the EU regions. This blending facility combines loans from the EIB with grants from the European Commission to help mainly public sector entities in the most hard-hit EU regions, which are identified in the territorial just transition plans, to mobilise additional public investments and meet their development needs in the transition towards climate neutrality. The first PSLF call for proposals was launched on 19 July 2022 with ten intermediate cut-offs until the end of 2025. There are three cut-off dates per year planned until the end of 2025. A second call for proposals will be launched in 2026.

    To find out more about PSLF and PSLF-funded projects, please visit the CINEA website.

    CINEA

    The European Climate, Infrastructure and Environment Executive Agency (CINEA) is an executive agency established by the European Commission to implement parts of EU funding programmes for transport, energy, climate action, environment, maritime fisheries and aquaculture.

    CINEA aims to support its beneficiaries, establish strong partnerships, deliver high-quality programme and project management, foster effective knowledge-sharing and create synergies between programmes, to support a sustainable, connected and decarbonised Europe.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Proportionality and economic impact of restrictions on motorcycle traffic in the European Union – P-000439/2025

    Source: European Parliament

    Priority question for written answer  P-000439/2025
    to the Commission
    Rule 144
    Giovanni Crosetto (ECR), Carlo Fidanza (ECR), Chiara Gemma (ECR), Nicola Procaccini (ECR), Marco Squarta (ECR), Sergio Berlato (ECR), Alberico Gambino (ECR), Alessandro Ciriani (ECR), Carlo Ciccioli (ECR), Francesco Ventola (ECR), Elena Donazzan (ECR), Mariateresa Vivaldini (ECR), Stefano Cavedagna (ECR), Michele Picaro (ECR), Denis Nesci (ECR)

    The EU Emissions Directives regulate emission reductions for newly registered vehicles, leaving it to the discretion of Member States to apply measures affecting vehicles on the road.

    The motorcycle industry generates EUR 21.4 billion of annual GDP and supports 389 000 jobs.

    A motorcycle travels on average 2 700 km per year – while a car travels 11 300 km – and motorcycles contribute less to total emissions. In addition, motorcycles play a positive role in reducing urban traffic, making it easier to get around in densely populated cities.

    Remember also that a significant proportion of urban pollution is caused by wear and tear of brakes, tyres and asphalt, which are not directly linked to the vehicle emission category.

    In the light of the above:

    • 1.Does the Commission believe that specific traffic bans for certain categories of motorcycle are compliant with the principles of proportionality, non-discrimination and harmonisation enshrined in EU law?
    • 2.Has the Commission collected, or does it intend to collect, data on the economic and social impacts of similar restrictive measures on a strategic industry like the motorcycle industry?
    • 3.Does the Commission consider it compatible with the principles of legal certainty and proportionality to impose retroactive restrictions on vehicles already complying with the rules in force at the time of their registration?

    Submitted: 31.1.2025

    Last updated: 6 February 2025

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Council staff combine with Armagh Fisheries to improve water quality

    Source: Northern Ireland City of Armagh

    ABC Council’s Conservation officer Andy Griggs is pictured with Tom Woods, ABC Natural Heritage Officer and Aidan Donnelly from Armagh Fisheries.

    Conservation staff from ABC Council’s Climate Sustainability and Parks (CSP) department have been working in partnership with Armagh Fisheries Ltd recently to deliver an exciting water quality improvement project on the Butterwater river, a major tributary of the Callan River.

    The project funded through a grant from Northern Ireland Environment Agency’s (NIEA) Water Quality Improvement Scheme (WQIS) involved a number of elements including a 6km long river survey to determine the current status of the river with recommendations for future improvements works.

    Members of Armagh Fisheries carrying out improvement works on a local stream.

    As well as the survey, 150 metres of nature-based revetment works were installed helping to prevent cattle poaching of exposed riverbanks which leads to siltation of instream habitats.

    The project also involved a community engagement and citizen science programme for aquatic conservation delivered through a series of environmental education / activity days with local community members.

    The last of these events was held at the Armagh City Hotel and was attended by over 50 individuals representing some 18 local groups and organisations all working to improve river systems and the water that flows into Lough Neagh.

    Carolyn Beattie who gave a presentation at the event in Armagh City Hotel.

    Presentations at the event included information on previous project works and successes, online training modules on catchment management, education programmes on water quality and rivers for young people and current funding streams available for groups to apply for further project work.

    The event was a great success and it is envisaged that the partnership between ABC Council’s conservation staff and local community groups looking to protect and enhance our important rivers and loughs will continue to go from strength to strength in the coming years as funding is made available.

    Local anglers who attended the presentation in Armagh City Hotel.

    MIL OSI United Kingdom

  • MIL-OSI Canada: Canada announces new funding during International Development Week to strengthen climate action and economies 

    Source: Government of Canada News

    Climate change is one of today’s greatest challenges. Developing countries are often the hardest hit by climate change, and many have limited capacity to adapt to its impacts. As part of its efforts to achieve the UN’s Sustainable Development Goals, Canada is committed to doing its part to strengthen climate action and economies in vulnerable regions of the world so that we can all benefit from a healthy environment that is rich in biodiversity.

    MIL OSI Canada News

  • MIL-OSI Canada: Canada Invests in Climate Change Adaptation to Keep Communities Safe in Northern Ontario and Across Canada

    Source: Government of Canada News

    On January 29, 2025, Marc G. Serré, Parliamentary Secretary to the Honourable Jonathan Wilkinson, along with Member of Parliament Viviane Lapointe and Member of Parliament Anthony Rota, announced over $2.7 million in funding for five projects based in Northern Ontario under Natural Resources Canada’s Climate Change Adaptation Program (CCAP).

    MIL OSI Canada News

  • MIL-OSI: OP Mortgage Bank: Financial Statements Bulletin for 1 January‒31 December 2024

    Source: GlobeNewswire (MIL-OSI)

    OP Mortgage Bank
    Financial Statements Bulletin
    Stock Exchange Release 6 February 2025 at 10.00 EET

    OP Mortgage Bank: Financial Statements Bulletin for 1 January31 December 2024


    OP Mortgage Bank (OP MB) is the covered bond issuing entity of OP Financial Group. Together with OP Corporate Bank plc, its role is to raise funding for OP Financial Group from money and capital markets.

    Financial standing

    The intermediary loans and loan portfolio of OP MB totalled EUR 14,800 million (16,988)* on 31 December 2024. Bonds issued by OP MB totalled EUR 14,800 million (14,915) at the end of December.

    OP MB’s covered bonds after 8 July 2022 are issued under the Euro Medium Term Covered Bond (Premium) programme (EMTCB), pursuant to the Finnish Act on Mortgage Credit Banks and Covered Bonds (151/2022). The collateral is added to the EMTCB cover pool from the member cooperative banks’ balance sheets via the intermediary loan process on the issue date of a new covered bond.

    In January, OP MB issued its first covered bond of the year in the international capital market. The fixed-rate covered bond worth EUR 1 billion has a maturity of seven years and six months. All proceeds of the bond were intermediated to 63 OP cooperative banks in the form of intermediary loans.

    In March, a fixed-rate covered bond worth EUR 1 billion issued by OP MB in March 2017 matured. At the same time, OP cooperative banks’ intermediary loans worth EUR 1 billion related to the bond in question matured.

    In October, OP MB issued its second covered bond of the year in the international capital market. The fixed-rate covered bond worth EUR 1 billion has a maturity of five years. All proceeds of the bond were intermediated to 48 OP cooperative banks in the form of intermediary loans.

    The terms of issue are available on the op.fi website, under Debt investors: https://www.op.fi/en/op-financial-group/debt-investors/issuers/op-mortgage-bank/emtcb-debt-programme-documentation

    In November, OP MB sold a loan portfolio with a nominal value of EUR 1,825 million back to 85 OP cooperative banks. A capital loss of EUR 7.9 million was recognised on the sale in other operating expenses, and at the same time, income of EUR 5.0 million was recognised in net interest income consisting of income of EUR 7.7 million from the unwinding of hedge accounting items and an expense of EUR 2.7 million from the unwinding of loan EIR amortisations. In addition, EUR 4.5 million was recognised as expected credit loss on the sold loans. Net effect on operating profit was EUR 1.7 million. Previously, OP MB has purchased loans from OP cooperative banks as collateral for the bonds. Currently, OP MB operates on an intermediary loan model in which loans are tagged as collateral for bonds directly in OP cooperative banks’ balance sheets.

    Also, a fixed-rate registered bond (Namensschuldverschreibung) worth EUR 115 million issued by OP MB in November 2012 matured in November. Additionally, a fixed-rate covered bond worth EUR 1 billion issued by OP MB in November 2014 matured in November together with OP cooperative banks’ intermediary loans related to the bond worth EUR 1 billion.

    At the end of December, 92 OP cooperative banks had a total of EUR 14,800 million (14,800) in intermediary loans from OP MB.

    Impairment loss on receivables related to loans in OP MB’s balance sheet totalled EUR 2.5 million (-0.3). Loss allowance was EUR 0.0 million (2.6) following the sale of the loan portfolio.

    Operating profit was EUR 4.4 million (9.3). The company’s financial standing remained stable throughout the reporting period.

    * The comparatives for 2023 are given in brackets. For income statement and other aggregated figures, January–December 2023 figures serve as comparatives. For balance-sheet and other cross-sectional figures, figures at the end of the previous financial year (31 December 2023) serve as comparatives.


     Collateralisation of bonds issued to the public

    The European covered bonds (premium) issued under the EMTCB programme worth EUR 25 billion established on 11 October 2022, in accordance with the Act on Mortgage Credit Banks and Covered Bonds (151/2022), totalled EUR 6,250 million. The cover pool included a total of EUR 6,882 million in loans serving as collateral on 31 December 2024. Overcollateralisation exceeded the minimum requirement under the Act (151/2022).

    The covered bonds issued under the Euro Medium Term Covered Note programme worth EUR 20 billion established on 12 November 2010, in accordance with the Act on Mortgage Credit Banks (Laki kiinnitysluottopankkitoiminnasta, 688/2010), totalled EUR 8,550 million. The cover pool included a total of EUR 9,451 million in loans serving as collateral on 31 December 2024. Overcollateralisation exceeded the minimum requirement under the Act (688/2010).

    Capital adequacy

    OP MB’s Common Equity Tier 1 (CET1) ratio stood at 797.0% (41.8) on 31 December 2024. The ratio was improved by the sale of the loan portfolio back to OP cooperative banks and the resulting reduction in capital requirement for credit risk. The minimum CET1 capital requirement is 4.5% and the requirement for the capital conservation buffer is 2.5%. The minimum total capital requirement is 8% (or 10.5% with the increased capital conservation buffer). OP MB fully covers its capital requirements with CET1 capital, which in practice means that it has a CET1 capital requirement of 10.5%. Estimated profit distribution has been subtracted from earnings for the reporting period.

    OP MB uses the Standardised Approach (SA) to measure its capital adequacy requirement for credit risk. The Standardised Approach is also used to measure the capital requirement for operational risks.

    OP MB belongs to OP Financial Group. As part of the Group, OP MB is supervised by the European Central Bank. OP Financial Group presents capital adequacy information in its financial statements bulletins and interim and half-year financial reports in accordance with the Act on the Amalgamation of Deposit Banks. OP Financial Group also publishes Pillar 3 disclosures.

    Own funds and capital adequacy

    TEUR 31.12.2024 31.12.2023
    Equity capital 368,122 372,160
    Common Equity Tier 1 (CET1) before deductions 368,122 372,160
    Excess funding of pension liability   -13
    Proposed profit distribution -3,466  
    Share of unaudited profits   -7,490
    Insufficient coverage for non-performing exposures   -2,856
    CET1 capital 364,656 361,800
         
    Tier 1 capital (T1) 364,656 361,800
         
    Tier 2 capital (T2)    
    Total own funds 364,656 361,800

    Total risk exposure amount

    TEUR 31.12.2024 31.12.2023
    Credit and counterparty risk 18,581 812,205
    Operational risk (Standardised Approach) 26,636 25,140
    Other risks* 538 27,336
    Total risk exposure amount 45,755 864,682

    * Risks not otherwise covered.

    Ratios

    Ratios, % 31.12.2024 31.12.2023
    CET1 capital ratio 797.0 41.8
    Tier 1 capital ratio 797.0 41.8
    Capital adequacy ratio 797.0 41.8

    Capital requirement

    Capital requirement, TEUR 31.12.2024 31.12.2023
    Own funds 364,656 361,800
    Capital requirement 4,804 90,829
    Buffer for capital requirements 359,852 270,971

    Liabilities under the Resolution Act

    Under regulation applied to the resolution of credit institutions and investment firms, the resolution authority is authorised to intervene in the terms and conditions of investment products issued by a bank in a way that affects an investor’s position. The EU’s Single Resolution Board (SRB) based in Brussels is OP Financial Group’s resolution authority. The SRB has confirmed a resolution strategy for OP Financial Group whereby the resolution measures would focus on the OP amalgamation and on the new OP Corporate Bank that would be formed in case of resolution. According to the resolution strategy, OP Mortgage Bank would continue its operations as the new OP Corporate Bank’s subsidiary.

    The SRB has set a Minimum Requirement for Own Funds and Eligible Liabilities (MREL) for OP MB. From May 2024, the MREL is 16% of the total risk exposure amount and 18.5% of the total risk exposure amount including a combined buffer requirement, and 6% of leverage ratio exposures. The requirement entered into force on 15 May 2024. The requirement includes a Combined Buffer Requirement (CBR) of 2.5%.

    OP MB’s buffer for the MREL requirement was EUR 356 million. The buffer consists of own funds only. OP MB clearly exceeds the MREL requirement. OP MB’s MREL ratio was 797% of the total risk exposure amount.


    Joint and several liability of amalgamation

    Under the Act on the Amalgamation of Deposit Banks (599/2010), the amalgamation of cooperative banks comprises the organisation’s central cooperative (OP Cooperative), the central cooperative’s member credit institutions and the companies belonging to their consolidation groups, as well as credit and financial institutions and service companies in which the above together hold more than half of the total votes. This amalgamation is supervised on a consolidated basis. On 31 December 2024, OP Cooperative’s member credit institutions comprised 93 OP cooperative banks, OP Corporate Bank plc, OP Mortgage Bank and OP Retail Customers plc.

    The central cooperative is responsible for issuing instructions to its member credit institutions concerning their internal control and risk management, their procedures for securing liquidity and capital adequacy, and for compliance with harmonised accounting policies in the preparation of the amalgamation’s consolidated financial statements.

    As a support measure referred to in the Act on the Amalgamation of Deposit Banks, the central cooperative is liable to pay any of its member credit institutions the amount necessary to preventing the credit institution from being placed in liquidation. The central cooperative is also liable for the debts of a member credit institution which cannot be paid using the member credit institution’s assets.

    Each member bank is liable to pay a proportion of the amount which the central cooperative has paid to either another member bank as a support measure or to a creditor of such a member bank in payment of an overdue amount which the creditor has not received from the member bank. Furthermore, if the central cooperative defaults, a member bank has unlimited refinancing liability for the central cooperative’s debts as referred to in the Co-operatives Act.

    Each member bank’s liability for the amount the central cooperative has paid to the creditor on behalf of a member bank is divided between the member banks in proportion to their last adopted balance sheets. OP Financial Group’s insurance companies do not fall within the scope of joint and several liability.

    According to section 25 of the Act on Mortgage Credit Banks (688/2010), which was valid at that time, the creditors of covered bonds issued prior to 8 July 2022 have the right to receive payment, before other claims, for the entire term of the bond, in accordance with the terms and conditions of the bond, out of the funds entered as collateral, without this being prevented by OP MB’s liquidation or bankruptcy. A similar and equal priority also applies to derivative contracts entered in the register of bonds, and to marginal lending facilities referred to in section 26, subsection 4 of said Act. For mortgage-backed loans issued prior to 8 July 2022 and included in the total amount of collateral of covered bonds, the priority of the covered bond holders’ payment right is limited to the amount of loan that, with respect to home loans, corresponds to 70% of the value of shares or property serving as security for the loan and entered in the bond register at the time of the issuer’s liquidation or bankruptcy declaration.

    Under section 20 of the Act on Mortgage Credit Banks and Covered Bonds (151/2022), which entered into force on 8 July 2022, the creditors of bonds issued after 8 July 2022, including the related management and clearing costs, have the right to receive payment from the collateral included in the cover pool, before other creditors of OP MB or the OP cooperative bank which is the debtor of an intermediary loan. A similar priority also applies to creditors of derivative contracts related to covered bonds, including the related management and clearing costs. Interest and yield accruing on the collateral, and any substitute assets, fall within the scope of said priority. Section 44, subsection 3 of the Act on Mortgage Credit Banks and Covered Bonds includes provisions on the creditor’s priority claim regarding cover pool liquidity support. According to said subsection, the creditor has the right to receive payment against the funds contained in the cover pool after claims based on the principal and interest of covered bonds secured by the cover assets included in the cover pool, obligations based on derivatives contracts associated with covered bonds, as well as administration and liquidation costs.


    Sustainability and corporate responsibility

    As of the reporting year 2024, OP Financial Group reports on its sustainability and corporate responsibility in accordance with the European Sustainability Reporting Standards (ESRS) under the EU’s Corporate Sustainability Reporting Directive (CSRD). OP Financial Group’s Report by the Board of Directors and Financial Statements 2024, including CSRD reporting, will be published in March 2025.

    Responsible business is one of OP Financial Group’s strategic priorities. OP Financial Group’s sustainability programme guides the Group’s actions and is built around three themes: Climate and the environment, People and communities, Corporate governance. Read more about the sustainability programme at www.op.fi/en/op-financial-group/corporate-social-responsibility/corporate-social-responsibility-programme

    At OP Financial Group, sustainability and corporate responsibility are guided by a number of principles and policies. OP Financial Group is committed to complying not only with all applicable laws and regulations, but also with a number of international initiatives. The Group is committed to complying with the ten principles of the UN Global Compact initiative in the areas of human rights, labour rights, the environment and anti-corruption. OP Financial Group is a Founding Signatory of the Principles for Responsible Banking under the United Nations Environment Programme Finance Initiative (UNEP FI). Furthermore, OP Financial Group is committed to complying with the UN Principles for Responsible Investment and the UN Principles for Sustainable Insurance.

    OP Financial Group’s biodiversity roadmap includes measures to promote biodiversity. OP Financial Group aims to grow its nature positive handprint by 2030. ‘Nature positive’ means that OP Financial Group’s operations will have a net positive impact (NPI) on nature.

    OP Financial Group has drawn up a Human Rights Statement and Human Rights Policy. The Group respects all recognised human rights. The Human Rights Statement includes the requirements and expectations that OP Financial Group has set for itself and actors in its value chains. OP Financial Group is committed to perform remediation actions if its operations have adverse human rights impacts.

    In March 2024, OP MB published a Green Covered Bond Report on the allocation and impacts of Finland’s first green covered bonds issued in March 2021 and April 2022. Under OP MB’s Green Covered Bond Framework, the proceeds from the bonds have been allocated to mortgages with energy-efficient residential buildings as collateral.

    The environmental impacts allocated to the green covered bonds in 2023 were 59,000 MWh of energy use avoided per year and 8,800 tonnes of CO2-equivalent emissions avoided per year.


    Personnel

    At the end of the reporting period, OP MB had six employees. OP MB has been digitising its operations and purchases all key support services from OP Cooperative and its subsidiaries, reducing the need for its own personnel.


     Governing body members

    The Board composition is as follows:

    Chair Mikko Timonen Chief Financial Officer, OP Cooperative
    Members Satu Nurmi Business Lead, SME Financing,
    OP Retail Customers plc
      Mari Heikkilä Head of Group Treasury & ALM,
    OP Corporate Bank plc

    OP MB’s Managing Director is Sanna Eriksson. The Deputy Managing Director is Tuomas Ruotsalainen, Senior Covered Bonds Manager at OP MB.


    Risk profile

    OP MB has a strong capital base, capital buffers and risk-bearing capacity.

    OP MB’s most significant risks are related to the quality of collateral and to structural liquidity and interest rate risks on the balance sheet, for which limits have been set in the Banking Risk Policy. The key credit risk indicators in use show that OP MB’s credit risk exposure is stable. OP MB has used interest rate swaps to hedge against its interest rate risk. Interest rate swaps have been used to swap home loan interest, intermediary loan interest and interest on issued bonds onto the same basis rate. OP MB has concluded all derivative contracts for hedging purposes, applying fair value hedges which have OP Corporate Bank plc as their counterparty. OP MB’s interest risk exposure is under control and has been within the set limit.

    The liquidity buffer for OP Financial Group is centrally managed by OP Corporate Bank and therefore exploitable by OP MB. At the end of the reporting period, OP Financial Group’s Liquidity Coverage Ratio (LCR) was 193% and the Net Stable Funding Ratio (NSFR) was 129%. OP MB monitors its cash flows on a daily basis to secure funding liquidity and its structural funding risk on a regular basis as part of the company’s internal capital adequacy assessment process (ICAAP).

    An analysis of OP MB’s risk exposure should always take account of OP Financial Group’s risk exposure, which is based on the joint and several liability of all its member credit institutions. The member credit institutions are jointly liable for each other’s debts. All member banks must participate in support measures, as referred to in the Act on the Amalgamation of Deposit Banks, to support each other’s capital adequacy.

    OP Financial Group analyses the business environment as part of its ongoing risk assessment activities and strategy process. Megatrends and worldviews behind OP Financial Group’s strategy reflect driving forces that affect the daily activities, conditions and future of the Group and its customers. Factors currently shaping the business environment include climate, biodiversity loss, scientific and technological innovations, polarisation, demography and geopolitics. External business environment factors are considered thoroughly, so that their effects on customers’ future success are understood. OP Financial Group provides advice and makes business decisions that promote the sustainable financial success, security and wellbeing of its owner-customers and operating region while managing the Group’s risk profile on a longer-term basis. Advice for customers, risk-based service sizing, contract lifecycle management, decision-making, management and reporting are based on correct and comprehensive information.


    Outlook

    Finland’s economy contracted in 2024. However, the economy began to recover as the year progressed and preliminary figures suggest that GDP grew in the second half compared to the same period in 2023. Slower inflation and lower interest rates provide a basis for the recovery to continue. Risks associated with the economic outlook are still higher than usual. The escalation of geopolitical crises or a rise in trade barriers may affect capital markets and the economic environment.

    OP MB’s capital adequacy is expected to remain strong and its risk exposure favourable. This enables the issuance of covered bonds in the future.

    Schedule for financial reports for 2024

    Report by the Board of Directors and Financial Statements 2024 Week 11, 2025
    Corporate Governance Statement 2024 Week 11, 2025

    Schedule for Interim Reports and Half-Year Financial Report in 2025

    Interim Report 1 January–31 March 2025 7.5.2025
    Half-year Financial Report 1 January–30 June 2025 30.7.2025
    Interim Report 1 January–30 September 2025 28.10.2025

    Helsinki, 6 February 2025

    OP Mortgage Bank

    Board of Directors

    Additional information:

    Sanna Eriksson, Managing Director, tel. +358 10 252 2517

    DISTRIBUTION
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    www.op.fi

    The MIL Network

  • MIL-OSI: Capgemini and Peugeot Sport renew their partnership to tackle technological and sustainable challenges in sports performance

    Source: GlobeNewswire (MIL-OSI)

    Capgemini and Peugeot Sport renew their partnership to tackle technological and sustainable challenges in sports performance

    Paris, February 6, 2025 – Capgemini has renewed its partnership with Peugeot Sport to continue developing the 9X8 Hypercar that is competing in the FIA World Endurance Championship (FIA WEC). While enhancing the Hypercar’s performance through data with artificial intelligence (AI) at the heart of the partnership, the two companies also aim to strengthen their collaboration on reducing Peugeot Sport’s carbon footprint.

    Over the past two years, Capgemini teams have built a powerful data engineering platform to analyze information from both real and simulated races, as well as the associated parameters (driver, circuit, race conditions, etc.). The AI model powering the virtual sensors is tailored, compiled, and embedded in the PEUGEOT 9X8’s onboard computer to enhance decision-making and adjust the Hypercar’s behavior in real-time. Racing engineers have also significantly reduced the time required for processing and analysis—tasks that previously took a full day can now be completed in just ten minutes.

    Enhancing Hypercar 9×8 performance with generative AI
    The next step involves leveraging generative AI to analyze temporal sensor data to identify anomalies during the extended durations of tests or races. Generative AI will also be used to capture and structure the exchanges and interactions between drivers and race engineers, which, in the endurance championship context, can last several hours. These new insights will then be correlated with race data to extract valuable information aimed at optimizing the Hypercar’s performance.

    Decarbonizing motorsport
    Since 2022, Capgemini has been supporting Peugeot Sport, and more broadly Stellantis Motorsport, in its comprehensive decarbonization initiative, offering a proven methodology at every step of this journey. The first stage involved calculating the carbon footprint of the entire motorsport ecosystem: from vehicles on the track to parts and team logistics, as well as the organization of sporting events. Subsequently, around 30 concrete actions were identified to reduce greenhouse gas emissions by 2030, with annual assessments and adjustments as needed. After several theoretical phases, practical implementation is now underway, with all action plans deployed. Key performance indicators are closely monitored to measure progress, and goals are on track to be achieved, with emissions calculations updated annually.

    Examples of initiatives implemented in addition to FIA WEC’s measures include:

    • R&D teams adopting an eco-design approach for vehicles, incorporating environmental considerations during parts development processes and using alternative materials without compromising performance.
    • Supplier engagement as a key element of the roadmap. Primary suppliers are supported in their decarbonization efforts through discussions, calculation tools, and idea exchanges with the design office to optimize the entire supply chain.
    • Climate awareness workshops (“Climate Fresco”) held for employees to highlight the impact of daily actions.
    • Optimized travel arrangements, with a preference for maritime freight.
    • Deployment of renewable biofuel tanks (HVO-100) for the entire fleet of trucks and diesel utility vehicles, reducing greenhouse gas emissions by more than 85% compared to fossil fuels.

    “The WEC Championship is an essential discipline for Team Peugeot TotalEnergies. The visibility and prestige of the 24 Hours of Le Mans make it a key event to showcase the advancements and improvements made by all actors in motorsport. Beyond the sporting event, we play a pioneering role in sustainability by developing tomorrow’s technologies. Today, AI has become a key element of our racing strategy, confirmed by improved results at the end of the 2024 season, particularly at Fuji and Bahrain,” said Jean-Marc Finot, Senior VP of Stellantis Motorsport. “Thanks to our partnership with Capgemini, we are able to closely monitor the key decarbonization indicators to ensure we stay on track with the ambitious goals we have set for 2030. Together, we are tackling a dual challenge: sports and sustainable performance.”

    “We are delighted to continue our collaboration to enhance Peugeot Sport’s performance, both in terms of sporting results and the environmental impact of motorsport, by providing the latest AI technologies and our expertise in decarbonization,” said Andrea Falleni, CEO of Capgemini in Southern Europe and Member of the Group Executive Board.

    The partnership between Peugeot Sport and Capgemini is part of Capgemini’s global sports sponsorship strategy, addressing two key objectives: firstly, partnering with major brands or sporting events worldwide (such as the Rugby World Cups for men and women or the Ryder Cup) to celebrate teamwork and boldness; and secondly, leveraging its expertise to provide cutting-edge technological tools to enhance performance and fan experiences, as seen during the 37th America’s Cup in 2024.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fuelled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.
    Get the Future You Want | www.capgemini.com

    About Peugeot Sport
    Since its inception, Peugeot Sport has pushed the limits of performance and innovation in motorsport. Combining technological expertise, boldness, and passion, Peugeot Sport takes on the most demanding challenges in international competitions while adopting a sustainable and responsible approach.
    Whether through its FIA World Endurance Championship (WEC) program with the PEUGEOT 9X8, its involvement in cutting-edge technology development, or its heritage marked by iconic victories, Peugeot Sport embodies French excellence in competition.

    With a constant spirit of innovation, Peugeot Sport is also a key player in the energy transition, developing mobility solutions that are more environmentally friendly.

    For more information, visit www.peugeot-sport.com
    Stay up to date with all Peugeot Sport news

    Attachment

    The MIL Network

  • MIL-OSI New Zealand: Waitangi Day Address at Ōnuku Marae

    Source: New Zealand Governor General

    Kei aku rangatira o Ngāi Tahu, tēnā koutou. Nāu rā te karanga, kia haramai ahau, i tēnei rā o Waitangi. Nāu anō te tino mōhio, ki te manaaki tangata. Nā reira aku mihi nui. Tēnā koutou katoa.

    I wish to specifically acknowledge: the Right Honourable Christopher Luxon, Prime Minister; the Right Honourable Gerry Brownlee, Speaker of the House of Representatives; Rear Admiral Mathew Williams, Vice Chief of Defence Force; Tā Tipene O’Regan, Member of the Order of New Zealand; Mr Justin Tipa, Chair of Te Rūnanga o Ngāi Tahu, and your wider iwi leadership team; Mr Riki Tainui, representative for Ōnuku Rūnanga, and all representatives and whānau from Papatipu Rūnanga across Te Waipounamu.

    And, finally, to all distinguished guests, including representatives from central and local government, and all who have travelled to be here today – tēnā koutou katoa.

    Thank you for inviting me and my husband, Dr Davies, to Ōnuku, this beautiful place, to join with you in commemorating Waitangi Day this year. I know that the last Governor-General to attend commemorations at Ōnuku was my predecessor, Dame Patsy Reddy, six years ago, and I am honoured to be here today, in this very special part of Aotearoa New Zealand.

    Standing in this place, bearing, as it does, such deep history, and looking out at this harbour, of such astonishing beauty, I cannot help but be reminded of the whakataukī: ‘Whatungarongaro te tangata toitū te whenua. As people disappear from sight, the land remains.’

    I stand here and I think of those moments so significant in the history of Ngāi Tahu, Te Waipounamu, and Aotearoa, that have taken place here, on this whenua. I picture the HMS Herald entering Akaroa Harbour on the 28th of May 1840, and of Edward Williams and William Stewart coming ashore to explain the document they carried.

    In the following days, your tupuna surely gave deep consideration to what this Treaty might mean for Ngāi Tahu: for their tamariki and mokopuna, and for future generations – many of whom are gathered here today. I imagine Iwihau and Hone Tīkao returning to this place, on the 30th of May 1840, and signing that seventh sheet of Te Tiriti o Waitangi.

    Of course, it was also here, 158 years later, that the then Prime Minister, the Right Honourable Jenny Shipley, standing where I am now, delivered the Crown’s apology to Ngāi Tahu – expressing profound regret for the Government’s breaches of Te Tiriti in its dealings with your iwi, and initiating the process of redress and healing.

    I wholeheartedly commend Ngāi Tahu for all that you’ve achieved in these intervening years. You continue to be great leaders, collaborators, and champions, not only for this region, but for all of New Zealand – across the spheres of education and agriculture; business and the arts; innovation and sustainability – and working always with the vision, generosity, and enterprise for which your iwi is so rightly renowned.

    On that note, I wish to take this opportunity to again acknowledge Tā Tipene O’Regan. It has truly been one of the great honours of my term as Governor-General to present you, Tā Tipene, with your Order of New Zealand – our country’s highest civilian honour – for all you’ve done for Ngāi Tahu, and for Aotearoa.

    It was the author and former Governor-General of Canada, John Buchan, who said: ‘The task of leadership is not to put greatness into humanity, but to elicit it, for the greatness is already there.’ Thank you, on behalf of all New Zealanders, Tā Tipene, for the clarity, intelligence, and selflessness of your leadership, and the greatness you have elicited through your service over so many years.

    Across all its endeavours, Ngāi Tahu continues to seek the very best outcomes for your people, and for this precious land. I was deeply impressed by your Climate Change Strategy, emphasising, as it does, not only the urgency of the issues, but a model for principled, collective action in facing them.

    Perhaps most profoundly, it speaks to those often-neglected facts: that we are each a part of the natural world – and that, in the irreversible degradation and loss of the environment around us, we are, in turn, losing some deep and irreplaceable part of ourselves – inhabiting and sharing this beautiful, fragile earth which is our only home.

    I was moved to find that the pou in this whare behind me represent not only rangatira from the Banks Peninsula, but from across the country – including my own tupuna. In doing so, it stands beautifully for the way that, no matter where we may be from, we are bound together as people of Aotearoa: for the enduring nature of the relationship we share, enshrined in our Treaty.

    In such a way, I believe Te Tiriti o Waitangi to be this nation’s taonga: a gift given to us by our tupuna, and our guiding light towards a vision of nationhood conceived, debated, and pledged, at Waitangi, Ōnuku, and across Aotearoa.

    As our minds begin to turn towards 2040, the bicentenary of Te Tiriti, and to the long-term future of this country, it is our rangatahi who will lead us there, guided by our elders. I urge us to do all we can to empower them – to be examples in the way we conduct ourselves; to hold onto our own youthful sense of hope and purpose; and to be there for each other, in the spirit of understanding, goodness, and grace with which our Treaty was signed, here, 185 years ago.

    In this, our national project, I can think of no better guiding principle than the few, very simple lines of New Zealand poet, Jenny Bornholdt:

    Always refer back
    to the heart.
    It is where
    the world 
    began.

    My sincerest thanks once again to Ngāi Tahu for inviting and hosting us so graciously and generously here today. I wish you all the very best for the rest of your day of celebrations, and for your hopes and aspirations for these years ahead.

    He ao te rangi ka uhia, he huruhuru, te manu ka tau. Tēnā tatau katoa.

    MIL OSI New Zealand News

  • MIL-OSI Australia: Address to OECD International Workshop on Rigorous Impact Evaluation Approaches including Randomised Controlled Trials

    Source: Australian Treasurer

    As is customary in Australia, I acknowledge the Ngunnawal people, on whose lands I am recording these remarks, and all First Nations people joining this international workshop.

    Thank you to our OECD Public Management and budgeting colleagues, Jon Blondal, Andrew Blazey and the team for helping to coordinate this event and offering me the opportunity to provide this opening address. This event is being run by the OECD in collaboration with the Australian Centre for Evaluation in the Department of the Treasury. The Australian Government is delighted to be contributing to global efforts to advocate for better evidence. And we are keen to connect with international endeavours that promote its generation, synthesis and sharing in public policy.

    Today, I want to discuss how countries can collaborate to better create and use evidence. This is a substantial reform. Indeed, I argue that randomised trials and better use of evidence isn’t just another worthy public policy tweak. It’s bigger than that. Much bigger. Effectively using evidence to make policy decisions is a public administration reform on par with the biggest changes in good government that humanity has put into place. It is the seventh phase of good government.

    Let’s take a quick moment to run through the major milestones in the history of public administration.

    Six big reforms in the history of public administration

    Throughout history, there have been 6 big reforms in public administration.

    The first was the rise of bureaucracy and professionalised governance. It was during the 18th and 19th centuries that public administration shifted from patronage and informal systems to emphasising impartiality, specialisation, and accountability. Democratic institutions and a robust civil society provided the conditions for an independent and accountable civil service.

    The second big reform occurred in the early 20th century. The efficiency revolution – scientific management of public administration that focused on efficiency and rational organisation – was inspired by industrial principles.

    In response to economic crises and post‑WWII recovery, we saw the rise of the third big reform – the welfare state and the expansion of government responsibilities in social welfare, healthcare and economic planning.

    The fourth big reform in public administration in the late 20th century was market‑oriented governance. We saw governments adopt private‑sector practices like outsourcing, performance metrics, and competition.

    Concerns about accountability also carried through to the fifth big historic reform – the era of digital transformation and e‑governance. The early 21st century saw technology revolutionise public administration. It enabled data‑driven decision‑making and citizen engagement.

    Building on the lessons learnt during the digital transformation, the past decade has seen the move towards adaptive governance – the sixth big reform in public administration. Top‑down processes were swapped out for more flexible, collaborative and cross‑sector approaches that embrace ‘long‑term systems thinking’ to address interconnected crises such as climate change (Brunner and Lynch 2017).

    Each of these 6 big reforms from the past 3 centuries has helped to reshape government and improve citizens’ lives.

    The seventh big reform in public administration: randomised trials

    Today I want to argue that we are on the cusp of a seventh big reform in public administration.

    It will involve the widespread adoption of randomised trials as a means of testing policies by providing a counterfactual.

    This reform should include the synthesis of quality evidence about what works, and what doesn’t, to provide public administrators with irrefutable knowledge that can improve people’s lives.

    Let’s consider a couple of examples to see how this might work in practice.

    Eye care is often a neglected field of public health in developing economies.

    In rural Bangladesh, a randomised trial of providing free reading glasses involved more than 800 adults with jobs requiring close attention to detail, such as tea pickers, weavers, and seamstresses (Jacobs 2024). The study found that when workers were given free reading glasses, they earned 33 per cent more than those who were not given glasses (Sehrin et al. 2024).

    Speaking to The New York Times, Dr Nathan Congdon, one of the authors of the study findings, said that ‘…what makes the results especially exciting is the potential to convince governments that vision care interventions are as inexpensive, cost‑effective and life‑changing as anything else that we can offer in healthcare’ (Jacobs 2024).

    As well as garnering evidence on what does work, the widespread adoption of randomised trials must also include quality evidence about what doesn’t work.

    In 2014, the US state of Massachusetts launched a 4‑year intervention program called the Juvenile Justice Pay for Success Initiative (Patrick DL 2014). The program aimed to reduce recidivism and improve employment outcomes in young men who were at high risk of re‑offending (Third Sector 2024).

    The initiative involved an experimental financial contract called ‘Pay For Success’ – also known as a social impact bond. Funders assumed the US$27 million up‑front financial risk. And the government would only refund the cost of the program if a third‑party evaluator and validator determined that the initiative achieved a reduction in the number of days the young men spent in jail, and improvements in their employment and job readiness (Patrick DL 2014).

    At the end of the 4‑year program, a randomised trial found no discernible effects on reincarceration or employment (Coalition for Evidence‑Based Policy 2025). Neither the recidivism nor employment outcomes were sizable enough to trigger the repayment under the pay‑for‑success contract (Roca et al. 2025).

    Why randomised trials should be prioritised over other forms of evaluation

    When the evaluation of a social program does not produce the hoped‑for results, it’s difficult to avoid feelings of disappointment.

    But this has been the reality for some time.

    We know from the history of large, well‑conducted randomised trial evaluations that only a small percentage find that the intervention being evaluated produces a meaningful improvement over the status quo.

    As Peter Rossi attested in his 1987 Iron Law of Evaluation, ‘The expected value of any net impact assessment of any large‑scale social program is zero’ (Arnold Ventures 2018a).

    But here’s the light on the hill.

    The ‘iron law’ applies to most fields of research. That includes medicine, where 50–80 per cent of positive results from initial clinical studies are overturned by a subsequent randomised trial (Arnold Ventures 2018a).

    In medicine, the move towards randomised trials continues to save lives and stop unnecessary interventions.

    For every new treatment such as AIDS drugs, the HPV vaccine and genetic testing – medicine has discarded old ones, like bloodletting, gastric freezing and tonsillectomy (Leigh 2018).

    The willingness to test cures against placebos, or the best available alternative, is how we make progress. In public policy, we can do the same. If it works, we use it; if not, it’s back to the lab.

    The central goal of evaluation: finding interventions that work

    The key is having a big, ambitious goal to strive towards.

    I propose the primary goal of government evaluation should be to find interventions that work.

    More specifically – to build a body of programs backed by strong, replicated randomised trial evidence of important, lasting improvements in people’s lives.

    In other words, evidence that provides policymakers with confidence that if another jurisdiction were to implement the program faithfully in a similar population, it would improve people’s lives in a meaningful way.

    Imagine being able to confidently draw from a codified body of social programs and interventions that your jurisdiction could test, deploy and regulate.

    In the United States, the Coalition for Evidence‑Based Policy points towards Saga Education, a high‑dosage mathematics tutoring program for year 9 and 10 students in low‑income US schools that underwent 3 rigorous randomised trials. This program produced sizable, statistically significant effects on students’ maths scores on the district tests at the end of the tutoring year (Arnold Ventures 2024a). I’ll come back to this program a bit later.

    Similarly, the Coalition for Evidence‑Based Policy points to 2 job‑training programs for low‑income adults that were both shown to increase long‑term earnings by 20 to 40 per cent. These programs focused on the fast‑growing IT and financial services sectors, where jobs are well paid, and employees are in high demand (Arnold Ventures 2022a and 2022b).

    Finding interventions that work should be evaluators’ central goal. It is the only plausible path by which rigorous evaluations will improve the human condition. If we don’t allocate spending based on rigorous evidence, it is hard to see how governments can make progress on critical social problems.

    Here in Australia, a think tank study examined a sample of 20 Australian Government programs conducted between 2015 and 2022 (Winzar et al. 2023).

    Their report concluded that 95 per cent of the programs, which had a total expenditure of over A$200 billion, were not properly evaluated. And its analysis of Australian state and territory government evaluations reported similar results.

    The researchers noted that the problems with evaluation started from the outset of program and policy design. They also estimated that fewer than 1.5 per cent of government evaluations use a randomised design (Winzar et al. 2023).

    This finding echoes the Australian Productivity Commission’s 2020 report into the evaluation of Indigenous programs (Productivity Commission 2020).

    This report concluded that ‘both the quality and usefulness of evaluations of policies and programs affecting Aboriginal and Torres Strait Islander people are lacking’, and that ‘Evaluation is often an afterthought rather than built into policy design’ (Productivity Commission 2020).

    Finding what works: using strong signals from prior research

    If we accept that the central goal of evaluation is to find interventions that work, there are important implications for researchers and research funders.

    It means that it makes sense to evaluate an intervention, using a large randomised trial, only if there is a strong signal in prior research.

    Examples of prior research could include a pilot randomised trial, a high‑quality quasi‑experiment, or a randomised trial of a related program.

    This is the approach that Arnold Ventures is taking in the US via the Coalition for Evidence‑Based Policy, the US nonprofit relaunched under the leadership of Jon Baron (Coalition for Evidence‑Based Policy n.d.).

    Rigorous testing enabled Arnold Ventures to create a growing body of proven interventions in education and training (Coalition for Evidence‑Based Policy n.d.). It’s an approach also being used by the US Department of Education in its Investing in Innovation Fund, which was recently renamed the Education Innovation and Research Program. It has yielded a much higher success rate in identifying interventions with true effectiveness. In 2019, robust evidence standards used by the Fund (as it was at the time) resulted in positive impacts for 40 to 50 per cent of its larger grants.

    Compare this to the US Department of Health and Human Services’ Teen Pregnancy Prevention Program, which had a much lower hit rate of success – just 17 per cent – for its larger grants (Arnold Ventures 2019).

    Arnold Ventures (2018b) proposes a strategy for policy and researchers that involves 3 tiers of evidence – top, middle and low.

    Expand the implementation of programs backed by strong (‘top tier’) evidence of sizable, sustained effects on important life outcomes.

    Fund and/or conduct rigorous evaluations of programs backed by highly promising (‘middle tier’) evidence, to hopefully move them into the top tier.

    Build the pipeline of promising programs through modest investments in the development and initial testing of many diverse approaches (as part of a ‘lower tier’).

    This is about systematising our use of evidence: a familiar approach in medicine, but one that has not been standard practice for all policymakers.

    It is about producing tangible proof that randomised policy trials improve lives, in that way that we already have tangible proof that randomised medical trials save lives.

    As a specific example of this kind of approach, in the US state of Maryland, a partnership between Arnold Ventures and the state government is already scaling‑up proven programs.

    In August last year, the high‑dosage maths tutoring program for 9th and 10th graders I mentioned earlier (Saga Education) and ASSISTments – an educational tool for mathematics – received scale‑up funding under the US$20 million Maryland Partnership for Proven Programs with Arnold Ventures (Arnold Ventures 2024b).

    In the UK, the development of the What Works Network is a world‑leading achievement which owes credit to the network of evidence‑based policymakers. That includes the extraordinary David Halpern, who will be speaking on the panel shortly (for an excellent snapshot of his recommendations for the coming decade, see Halpern 2023).

    Across health and housing, education and employment, hundreds of UK randomised trials have been conducted. For a practitioner, policymaker or curious member of the British public, it is now easier than ever to see what we know, and what we do not (Leigh 2024a).

    For example, the Education Endowment Foundation has run literally hundreds of randomised trials in the education sector. It uses these findings, alongside rigorous evaluations conducted outside the UK, to advocate for evidence‑based education policies (Education Endowment Foundation n.d.).

    The Education Endowment Foundation has commissioned 316 research projects (208 of which are randomised trials). Sixty per cent of schools in England have taken part in a randomised trial funded by the Foundation. Seventy per cent of school leaders use the Education Endowment Foundation’s teaching and learning toolkit when making their funding decisions on spending for pupils from disadvantaged backgrounds.

    Here in Australia, we are committed to taking a stronger approach towards evidence‑based policymaking.

    In July 2023 we established the Australian Centre for Evaluation in the Department of the Treasury.

    The main role of the centre is to collaborate with other Australian Government departments to conduct rigorous evaluations, including randomised trials. Such agreements have already been forged with federal agencies responsible for employment, health, education and social services.

    Led by Eleanor Williams, armed with a modest budget of A$2 million per year and just over a dozen staff, the Centre operates on smarts and gentle persuasion, not mandates or orders (Leigh 2024b).

    No agency is forced to use the services of the Australian Centre for Evaluation, but all are encouraged to do so. This reflects the reality that evaluation, unlike audit, isn’t something that can be done as an afterthought. A high‑quality impact evaluation needs to be built into the design of a program from the outset (Leigh 2024b).

    The centre takes an active role in considering aspects that are relevant to all evaluations, such as rigorous ethical review and access to administrative microdata. The Australian Bureau of Statistics is playing a pivotal role in brokering access to administrative data for policy experiments.

    Collaboration with evaluation researchers outside of government is critical, too. Thanks to a joint initiative by the Centre and the Australian Education Research Organisation, we now have the Impact Evaluation Practitioners Network, which is bringing together government and external impact evaluators.

    The centre has several randomised trials currently underway, and I await the results with interest.

    In the next month, the centre will release a Randomised Controlled Trial Showcase Report, featuring examples of public policy‑related trials in Australia.

    Another organisation doing extraordinarily thorough research across the whole of social policy and the social sciences is the nonprofit Campbell Collaboration.

    For example, the Campbell Countering Violent Extremism evidence synthesis program is a global research initiative that is attracting attention here in Australia. The program originated from a 5‑country partnership of Australia, Canada, New Zealand, the UK and the US (Campbell Collaboration n.d.). Professor Lorraine Mazerolle from the University of Queensland is one of the principal investigators on the program (Campbell Collaboration n.d.).

    Creating an experimenting society

    Bringing a ‘what works’ philosophy to social policy is vital to helping the most vulnerable.

    And it is by no means a new idea. It follows the path forged by the prominent social scientist Donald Campbell.

    He is of course, the ‘Campbell’ in the Campbell Collaboration, which was named after him to honour his substantial contributions to social science and methodology.

    Over 50 years ago, Dr Campbell wrote Methods for the Experimenting Society, outlining his vision for helping governments to produce better‑informed policies and social interventions via research and evaluation (Campbell 1991).[1]

    In this paper, Campbell forewarns policymakers of the ‘over‑advocacy trap’, where advocates of a new social program or policy make exaggerated claims about its effectiveness in order to get it adopted (Campbell 1991). He effectively highlights the tension between the need for strong advocacy to get social programs funded and adopted, and the need for rigorous evaluation to determine their true effectiveness (Campbell 1991).

    Thirty years after Dr Campbell wrote Methods for the Experimenting Society, the US Department of Education was allocating over a billion US dollars each year to an after‑school program called the 21st Century Community Learning Center initiative.

    The program, which was initiated in 1998, saw children attending the centres for up to 4 hours of after‑school programs, where they partook in everything from tutoring to drama to sports. It attracted high‑profile advocates, including the former Californian governor and Mr Universe, Arnold Schwarzenegger.

    It’s no wonder then, that a randomised trial by Mathematica in 2003 startled everyone with its findings (Haskins 2009). Attending the after‑school program raised a child’s likelihood of being suspended from school (Leigh 2018). And there was no evidence that the after‑school program improved academic outcomes.

    The program’s prominent advocates had fallen head‑first into the over‑advocacy trap.

    Overcoming denial with collaboration and momentum

    American political scientist Ron Haskins commented on how easy it was for Schwarzenegger to flex his celebrity muscle to overcome a negative evaluation. ‘The lesson here, yet again, is that good evidence does not speak for itself in the policy process and is only one – sometimes a rather puny – element in a policy debate’ (Haskins 2009).

    Overcoming denial in the face of irrefutable evidence requires continuous collaboration and sustained momentum. In 2025 and beyond, we will need both to reach the tipping point on the widespread use of rigorous impact evaluation across public policy. It will be harder to run roughshod over good evidence if OECD nations continue to collaborate – both internally with non‑profit researchers outside of government, and externally with other nations.

    Philanthropic foundations in the UK, US and other OECD nations have a strong track record in supporting randomised policy trials. Initiatives such as the Maryland Partnership for Proven Programs and Arnold Ventures, which I mentioned earlier, demonstrate that the ‘what works’ philosophy in social policy is gaining traction.

    Here in Australia, the Paul Ramsay Foundation launched a A$2.1 million open grant round in 2024. Its structure is similar to a successful model that the Laura and John Arnold Foundation has deployed in the United States over the past decade (Leigh 2024c).

    The grants, which last for 3 years and are valued at up to A$300,000 each, will support up to 7 experimental evaluations conducted by non‑profits with a social impact mission. For example, improving education outcomes for young people with disabilities, reducing domestic and family violence, or helping jobless people find work (Paul Ramsay Foundation 2024).

    The Australian Centre for Evaluation supported the open grant round, and is helping to connect grantees with administrative data relevant to the evaluation, and I am excited to see what we learn from these studies (Leigh 2024b).

    One of the most appealing advantages of well‑conducted randomised trials is that they resonate well with 3 democratic principles: non‑arbitrariness, revisability and public justification (Tanasoca and Leigh 2023).

    This gives us good democratic reasons to seek out such evidence for policymaking. Indeed, the more democratic a regime is, the more likely it is to conduct randomised trials (Tanasoca and Leigh 2023).

    Recall the first big public administration reform – the growth of a professionalised civil service – rested on the development of democratic institutions. Nobel laureates Daron Acemoglu and James Robinson call this the ‘red queen effect’, in which societies offering more public goods also need to offer more democratic social power (Acemoglu and Robinson 2019).

    The seventh reform – randomised trials and evidence‑based policymaking – takes us further along the corridor. Things are not true simply because politicians assert them. Policies must be backed by evidence, and citizens must be able to test and trust that evidence.

    Democracies are on this journey together, and international collaboration is vital to reaching the tipping point.

    This is not about the performative use of words like ‘evaluation’ and ‘evidence’. It is about raising the quality and quantity of evidence, which is one reason that I keep referring to randomised trials. I acknowledge the work of the OECD towards achieving the goal of institutionalising rigorous evaluation across public policy areas, as per the OECD Recommendation of the Council on Public Policy Evaluation (OECD 2022).

    The second annual update of the Global Commission on Evidence also confirms the many signs of momentum towards the Commission’s 3 implementation priorities to formalise and strengthen domestic evidence‑support systems, enhance and leverage the global evidence architecture, and put evidence at the centre of everyday life (Global Commission on Evidence 2024).

    Conclusion

    We’re here because we care about good government. And because we understand that evaluation and evidence science are not fields in their infancy.

    Just as we don’t put homeopathy on the same level as science‑based medicine, it is a mistake to think that evidence‑free policy is on a par with evidence‑based policy.

    OECD governments have decades of experience about how to identify evidence gaps, put policies to the test, and implement the most effective programs (Leigh 2024a).

    Policymaking by focus groups and gut‑feel alone is the modern‑day equivalent of bloodletting and lobotomies in medicine (Leigh 2024a). Which is why the seventh big reform to public administration must focus on finding interventions that work. And on building a body of programs backed by strong, replicated randomised trial evidence of important, lasting improvements in people’s lives.

    This goal requires OECD nations to get behind the momentum of the Global Commission on Evidence.

    This will have massive benefits. It will save lives. It will save dollars. And it will make government work better.

    So let’s make it happen.


    My thanks to officials in the Australian Centre for Evaluation for valuable drafting assistance, and to Jon Baron, President and CEO of the Coalition for Evidence‑Based Policy, and David Halpern CBE, President Emeritus at the Behavioural Insights Team, for valuable discussions that helped shape this speech.

    References

    Acemoglu D and Robinson JA (2019) The Narrow Corridor: States, Societies, and the Fate of Liberty, Penguin, New York.

    Arnold Ventures (21 March 2018a) ‘How to solve U.S. social problems when most rigorous program evaluations find disappointing effects (part one in a series)’, Straight Talk on Evidence, accessed 15 January 2025.

    Arnold Ventures (13 April 2018b) ‘How to solve U.S. social problems when most rigorous program evaluations find disappointing effects (part 2 – a proposed solution)’, Straight Talk on Evidence, accessed 15 January 2025.

    Arnold Ventures (18 June 2019) ‘Evidence‑Based Policy ‘Lite’ Won’t Solve U.S. Social Problems: The Case of HHS’s Teen Pregnancy Prevention Program’, Straight Talk on Evidence, accessed 15 January 2025.

    Arnold Ventures (26 October 2022a) ‘Year Up’, Social Programs That Work, accessed 15 January 2025.

    Arnold Ventures (21 March 2022b) ‘Per Scholas Employment/Training Program for Low-Income Workers’, Social Programs That Work, accessed 15 January 2025.

    Arnold Ventures (11 July 2024a) ‘Saga Math Tutoring’, Social Programs That Work, accessed 15 January 2025.

    Arnold Ventures (28 August 2024b) Governor Moore Announces $20 Million in Grants for Education Programs, First Awards Under Maryland Partnership for Proven Programs with Arnold Ventures [media release], Arnold Ventures, accessed 16 January 2025.

    Australian Education Research Organisation (n.d.), About us, Australian Education Research Organisation website, accessed 22 January 2025.

    Brunner R and Lynch A (2017) ‘Adaptive Governance’, Oxford Research Encyclopedia of Climate Science, doi:10.1093/acrefore/9780190228620.013.601.

    Campbell Collaboration (n.d.) Our work, Campbell Collaboration website, accessed 16 January 2025.

    Campbell Collaboration (n.d.) About the CVE programme, Campbell Collaboration website, accessed 21 January 2025.

    Campbell DT (1991) ‘Methods for the Experimenting Society’, Evaluation Practice, 12(3):223–260.

    Education Endowment Foundation (n.d.) How we work, Education Endowment Foundation website, accessed 22 January 2025.

    Global Commission on Evidence to Address Societal Challenges (2024), ‘Global Evidence Commission update 2024: Building momentum in strengthening domestic evidence‑support systems, enhancing the global evidence architecture, and putting evidence at the centre of everyday life’ [PDF 5MB], McMaster Health Forum, Hamilton, accessed 17 January 2025.

    Halpern D (2023) ‘Foreword’, in Sanders M and Breckon J (eds) The What Works Centres: Lessons and Insights from an Evidence Movement, Bristol University Press, Bristol.

    Haskins R (17–18  August 2009) ‘Chapter 3 With a scope so wide: using evidence to innovate, improve, manage, budget’ [roundtablee presentation] Strengthening Evidence‑based Policy in the Australian Federation, Session 1 Evidence‑based policy: Its principles and development Canberra, accessed 16 January 2025.

    Jacobs A (4 April 2024) ‘Glasses Improve Income, Not Just Eyesight’, The New York Times, accessed 15 January 2025.

    Leigh A (2018) Randomistas: How Radical Researchers Changed Our World, Black Inc, Melbourne.

    Leigh A (3 October 2024a) ‘Address to the UK Evaluation Task Force, 9 Downing Street, London’ [presentation], London, accessed 15 January 2025.

    Leigh A (17 June 2024) ‘Address to the Australian Evaluation Showcase, Canberra’ [presentation], Australian Evaluation Showcase, Canberra, accessed 15 January 2025.

    Leigh A (28 November 2024c) ‘Address to 10th Annual Social Impact Measurement Network Australia Awards’ [presentation], 10th Annual Social Impact Measurement Network Australia Awards, Virtual, accessed 17 January 2025.

    OECD (Organisation for Economic Co‑operation and Development) (2022) Recommendation of the Council on Public Policy Evaluation, Adopted on 06/07/2022, OECD Legal Instruments, OECD/LEGAL/0478, accessed 17 January 2025.

    Patrick DL (29 January 2014) Massachusetts Launches Landmark Initiative to Reduce Recidivism Among At‑Risk Youth [media release], Commonwealth of Massachusetts, accessed 14 January 2025.

    Paul Ramsay Foundation (17 June 2024) ‘Experimental evaluation open grant round’, Paul Ramsay Foundation, accessed 17 January 2025.

    Productivity Commission (2020) Indigenous Evaluation Strategy: Background Paper, Australian Government.

    Roca Inc., Commonwealth of Massachusetts, and Third Sector Capital Partners (30 August 2024) Final Report: the Massachusetts Juvenile Justice Pay for Success project, accessed 14 January 2025.

    Sehrin F, Jin L, Naher K, Chandra Das N, Chan VF, Li DF, Bergson S, Gudwin E, Clarke M, Stephan T and Congdon N (2024) ‘The effect on income of providing near vision correction to workers in Bangladesh: The THRIVE (Tradespeople and Hand‑workers Rural Initiative for a Vision‑enhanced Economy) randomized controlled trial’, PLOS ONE, 19(4):e0296115, doi:10.1371/journal.pone.0296115.

    Tanasoca A and Leigh A (2024) ‘The Democratic Virtues of Randomized Trials’, Moral Philosophy and Politics, 22(1):113–140, doi:10.1515/mopp‑2022–0039.

    Winzar C, Tofts‑Len S, Corpu E (2023) Disrupting disadvantage 3: Finding what works, Committee for Economic Development of Australia, Melbourne, accessed 16 January 2025.

    Footnotes

    [1] Campbell’s paper was written around 1971 and used in presentations to the Eastern Psychological Association and the American Psychological Association. It was revised and first published in 1988 (see Campbell 1991).

    MIL OSI News

  • MIL-Evening Report: It’s official: Australia’s ocean surface was the hottest on record in 2024

    Source: The Conversation (Au and NZ) – By Moninya Roughan, Professor in Oceanography, UNSW Sydney

    Australia’s sea surface temperatures were the warmest on record last year, according to a snapshot of the nation’s climate which underscores the perilous state of the world’s oceans.

    The Bureau of Meteorology on Thursday released its annual climate statement for 2024 – the official record of temperature, rainfall, water resources, oceans, atmosphere and notable weather.

    Among its many alarming findings were that sea surface temperatures were hotter than ever around the continent last year: a whopping 0.89°C above average.

    Oceans cover more than 70% of Earth’s surface, and their warming is gravely concerning. It causes sea levels to rise, coral to bleach and Earth’s ice sheets to melt faster. Hotter oceans also makes weather on land more extreme and damages the marine life which underpins vital ocean ecosystems.

    What the snapshot showed

    Australia’s climate varies from year to year. That’s due to natural phenomena such as the El Niño and La Niña climate drivers, as well as human-induced climate change.

    The bureau confirmed 2024 was Australia’s second-warmest year since national records began in 1910. The national annual average temperature was 1.46°C warmer than the long-term average (1961–90). Heatwaves struck large parts of Australia early in the year, and from September to December.

    Average rainfall in Australia was 596 millimetres, 28% above the 30-year average, making last year the eighth-wettest since records began.

    And annual sea surface temperatures for the Australian region were the warmest on record. Global sea surface temperatures in 2024 were also the warmest on record.

    According to the bureau, Antarctic sea-ice extent was far below average, or close to record-lows, for much of the year but returned to average in December.

    What caused the hot oceans?

    It’s too early to officially attribute the ocean warming to climate change. But we do know greenhouse gas emissions are heating the Earth’s atmosphere, and oceans absorb 90% of this heat.

    So we can expect human-induced climate change played a big role in warming the oceans last year. But shorter-term forces are at play, too.

    The rare triple-dip La Niña Australia experienced from 2020 to 2023 brought cooler water from deep in the ocean up to the surface. It was like turning on the ocean’s air-conditioner.

    But that pattern ended and Australia entered an El Niño in September 2023. It lasted about seven months, when the oscillation between El Niño and La Niña entered a neutral phase.

    The absence of a La Niña meant cool water was no longer being churned up from the deep. Once that masking effect disappeared, the long-term warming trend of the oceans became apparent once more.

    Water can store a lot more heat than air. In fact, just the top few metres of the ocean store as much heat as Earth’s entire atmosphere. Oceans take a long time to heat up and a long time to cool.

    Heat at the ocean’s surface eventually gets pushed deeper into the water column and spreads across Earth’s surface in currents. The below chart shows how the world’s oceans have heated over the past 70 years.

    Changes in the world’s ocean heat content since 1955.
    NOAA/NCEI World Ocean Database

    Why should we care about ocean warming?

    Rapid warming of Earth’s oceans is setting off a raft of worrying changes.

    It can lead to less nutrients in surface waters, which in turn leads to fewer fish. Warmer water can also cause species to move elsewhere. This threatens the food security and livelihoods of millions of people around the world.

    Just last week, it was reported that tens of thousands of fish died off northwestern Australia due to a large and prolonged marine heatwave.

    Warm water causes coral bleaching, as experienced on the Great Barrier Reef in recent decades. It also makes oceans more acidic, reducing the amount of calcium carbonate available for organisms to build shells and skeletons.

    Warming oceans trigger sea level rise – both due to melt water from glaciers and ice sheets, and the fact seawater expands as it warms.

    Hotter oceans are also linked to weather extremes, such as more intense cyclones and heavier rainfall. It’s likely the high annual rainfall Australia experienced in 2024 was in part due to warmer ocean temperatures.

    What now?

    As long as humans keep burning fossil fuels and pumping greenhouse gases into the atmosphere, the oceans will keep warming.

    Unfortunately, the world is not doing a good job of shifting its emissions trajectory. As the bureau pointed out in its statement, concentrations of all major long-lived greenhouse gases in the atmosphere increased last year, including carbon dioxide and methane.

    Prolonged ocean warming is driving changes in weather patterns and more frequent and intense marine heatwaves. This threatens ecosystems and human livelihoods. To protect our oceans and our way of life, we must transition to clean energy sources and cut carbon emissions.

    At the same time, we must urgently expand ocean observing below the ocean’s surface, especially in under-studied regions, to establish crucial baseline data for measuring climate change impacts.

    The time to act is now: to reduce emissions, support ocean research and help safeguard the future of our blue planet.

    Moninya Roughan receives funding from the Australian Research Council.

    ref. It’s official: Australia’s ocean surface was the hottest on record in 2024 – https://theconversation.com/its-official-australias-ocean-surface-was-the-hottest-on-record-in-2024-249277

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Sweeping reform of the electoral laws puts democracy at risk. They shouldn’t be changed on a whim

    Source: The Conversation (Au and NZ) – By Joshua Black, Visitor, School of History, Australian National University

    The Albanese government is trying once more to legislate wide-ranging changes to the way federal elections are administered.

    The 200-page Electoral Reform Bill, if passed, would transform the electoral donation rules by imposing donation and spending caps, increasing public funding, and improving transparency.

    As noble as it sounds, the bill in its current form would undermine Australian democracy by favouring established parties over independent candidates and other new players.

    Competitive disadvantage

    The proposed donation caps are a case in point.

    Donors could give A$20,000 per year, per recipient, to a branch of a party or candidate for electioneering purposes. In practice, that means donors could give no more than $20,000 per year to an independent but could contribute $180,000 to the Labor Party via each of its state and federal branches, or $160,000 to the Liberal Party (which has one less branch than the ALP).

    The donation cap would reset annually and after each federal election, allowing a single donor to give $720,000 to the Labor Party in one election cycle or $640,000 to the Liberals, but no more than $20,000 to an independent who declares their candidacy in the year of an election.

    Avoiding the American road

    There are welcome components in the bill. Faster disclosure and lower donation thresholds would make the system more transparent. Given the large amount of undisclosed funding – “dark money ” – currently propping up political parties, this would be a significant improvement.

    But democracy is not cheap.

    Last year, the Financial Times reported Donald Trump and Kamala Harris spent a combined US$3.5 billion (A$5.6 billion) on their presidential races. This kind of money helps to sustain an American two-party system largely immune to challengers.

    Australian campaigns look nothing like this, but there has been increased interest in the money spent in particular seats in recent years.

    Former Labor minister Kim Carr revealed in his recent book Labor spent $1 million to defeat the Greens in the Melbourne electorate of Batman in 2018, while the LNP reportedly spent $600,000 campaigning to retain the affluent electorate of Fadden in 2023.

    The bill before Parliament would cap election spending at $800,000 in each lower house seat. But the major parties could promote their generic party brand or a frontbench MP (in a seat other than their own) without affecting their capped spending.

    These unfair discrepancies would reward the major parties while kneecapping independents whose first hurdle is to get their name “out there”.

    Haunted by billionaires

    The government argues its bill limits the influence of “big money” in politics, namely mining boss Clive Palmer, who spent $117 million at the last election.

    For the Coalition, it is the community independents and their Climate 200 supporters who represent a kind of money “without precedent in the Australian political system” according to departing MP Paul Fletcher.

    Rather than getting big money out of politics, this bill would make the major parties’ own funding pipelines the only money that matters.

    The bill recognises “nominated entities” whose payments to associated political parties would not be limited by donation caps. Independents would not have this privilege.

    Meanwhile, the long delay before the commencement of the bill in 2026 would give wealthy donors time to get their ducks in order. They could amass their own war chests before the new laws are due to come in to force and then register them as nominated entities at a later date.

    Who pays? The taxpayer, of course!

    Parties and candidates with more than 4% of the primary vote currently receive public election funding. The Hawke government introduced this measure as a “small insurance” against corruption.

    The bill would raise the return to $5 per vote, which would mean an extra $41 million in funding, on top of the $71 million handed over after the 2022 election. Most of this money would go to the major parties.

    The windfall would come with no extra guardrails or guidelines about how those funds could be spent. There are no laws to guarantee truth in political advertising at the federal level. Voters may well be paying for more political advertising that lies to them.

    Closed consultations

    Labor’s current strategy is to seek Coalition support for these changes to the rules of democracy.

    Special Minister of State Don Farrell claims to have consulted widely on the design of the bill, but that came as news to independents David Pocock and Kate Chaney when asked about it last week.

    The government’s haste and secrecy suggest it wants neither the bill nor its motives closely scrutinised.

    Australians care about the quality of their democracy. Polling research by the Australia Institute last November showed four in five Australians expect electoral changes to be reviewed by a multi-party committee.

    That’s what is needed for this bill. To do otherwise would threaten the integrity of Australian elections – or invite a High Court challenge that may overturn the entire system if the court rules freedom of political expression is at stake.

    Democracy matters. The rules must not be changed on a whim.

    Joshua Black is a Postdoctoral Research Fellow at The Australia Institute, and formerly a Palace Letters Fellow at the Whitlam Institute within Western Sydney University.

    ref. Sweeping reform of the electoral laws puts democracy at risk. They shouldn’t be changed on a whim – https://theconversation.com/sweeping-reform-of-the-electoral-laws-puts-democracy-at-risk-they-shouldnt-be-changed-on-a-whim-249144

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Unambitious and undermined: why NZ’s latest climate pledge lacks the crucial ‘good faith’ factor

    Source: The Conversation (Au and NZ) – By Nathan Cooper, Associate Professor of Law, University of Waikato

    New Zealand’s Climate Change Minister Simon Watts speaking during the the recent climate summit in Azerbaijan. Sean Gallup/Getty Images

    The announcement of New Zealand’s new climate pledge under the Paris Agreement was met with sharp criticism last week.

    The agreement commits nations to provide a new pledge, known as a Nationally Determined Contribution (NDC) every five years. But it also requires each pledge to be a “progression beyond” the previous one.

    Climate Change Minister Simon Watts announced New Zealand would commit to reducing emissions by 51-55% below 2005 levels by 2035, which is only 1-5% above the current NDC of a 50% cut by 2030.

    Technically, the new NDC represents a progression, albeit the smallest possible one. It was criticised as underwhelming and unambitious to combat climate change, raising the question whether the coalition government has done enough to comply with its international obligations.

    The commitments of each member nation should align with the Paris Agreement’s purpose to hold global average temperature rise well below 2°C above pre-industrial levels and to pursue efforts to keep it at 1.5°C.

    But the agreement also requires that each country’s NDC reflects its “highest possible ambition, reflecting its common but differentiated responsibilities and respective capabilities, in light of different national circumstances”.

    Does the government’s announcement to step up emissions cuts by as little as 1% really represent New Zealand’s highest possible ambition in present circumstances?

    In October last year, looking specifically at New Zealand’s potential domestic contribution to the new NDC, the Climate Change Commission advised that emissions cuts of 66% could be achieved without shrinking the economy.

    This excludes potential additional cuts achieved through offshore mitigation – paying for overseas carbon credits or funding other countries to reduce their greenhouse emissions.

    Clearly, deeper cuts are possible and there is room for significantly greater ambition.

    The goal of the Paris Agreement is to limit climate change impacts by holding temperature rise well below 2°C.
    Fiona Goodall/Getty Images

    Bare minimum commitment

    Even if the new NDC meets a minimal requirement for compliance, it is difficult to see how it adheres to the purpose of the Paris Agreement and the level of ambition required.

    New Zealand’s NDC falls short of the commitments offered by other comparable countries and even some developing nations, including the oil and gas producer Brazil, which pledged to cut its emissions by 59-67% by 2035.

    International law has long been guided by the principle of pacta sunt servanda, which translates to “agreements must be kept”. The principle reminds parties to any agreement or convention that all international obligations should be fulfilled in good faith.

    Viewing New Zealand’s new NDC in the context of other recent decisions, it seems the coalition government may be pursuing policies that could undermine climate action while pledging the bare minimum internationally. This would be difficult to characterise as a party acting in good faith.

    Immediately following the new NDC announcement, Resources Minister Shane Jones unveiled New Zealand’s national minerals strategy, along with a list of critical minerals.
    These documents support the government’s goal to double exports from the mineral sector by 2035.

    Despite reassurance in the strategy that minerals production will not come at the expense of our environment, it includes plans to scale up exports of metallurgical coal. But mining more of this coal, then burning it (usually in the process of steelmaking), will add to greenhouse gas emissions.

    Wider concerns about the likely environmental damage and biodiversity loss linked with fast-tracked mining operations continue to be raised.

    Meeting trade obligations

    Last year’s decision to postpone the entry of agriculture into New Zealand’s Emissions Trading Scheme without a robust alternative means that agricultural emissions continue to avoid effective regulation.

    Even recent measures to allow increased road speed limits have been criticised for increasing greenhouse gas emissions as well as worsening air quality and reducing road safety.

    Despite Prime Minister Christopher Luxon’s claim to be “all about yes” even on climate change, such decisions are difficult to square with a responsible party to the Paris Agreement acting in good faith.

    The Paris Agreement is clear that emissions pledges are not imposed but are to be determined nationally. The agreement itself lacks an enforcement mechanism, but recently agreed trade deals with the European Union and with the United Kingdom both contain binding and enforceable commitments to the agreement.

    This is a reminder that trading partners are already monitoring New Zealand’s climate actions. Consumer attitudes and trade obligations might become a more powerful lever for climate action in the future. No government should ignore this.

    As the US administration begins to withdraw from the Paris Agreement, now more than ever is the time for other countries to stay focused on its purpose and to match national commitments accordingly.

    Without an NDC in line with the Paris goal, New Zealand’s government is not sending the right message to New Zealanders or to our trading partners and neighbours. It is failing to show international and regional leadership at a time when many Pacific nations are on the frontline of climate-related risk and damage.

    Nathan Cooper 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. Unambitious and undermined: why NZ’s latest climate pledge lacks the crucial ‘good faith’ factor – https://theconversation.com/unambitious-and-undermined-why-nzs-latest-climate-pledge-lacks-the-crucial-good-faith-factor-248877

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: King, Intel Colleagues Sound Alarm About “DOGE” Risk to National Security and American Privacy in Letter to White House

    US Senate News:

    Source: United States Senator for Maine Angus King
    WASHINGTON, D.C. –U.S. Senator Angus King (I-ME), a member of the Senate Select Committee on Intelligence (SSCI),  joined his committee colleagues to sound the alarm on the new national security risks that present themselves with the current operations of the Department of Government Efficiency (DOGE). In a letter to White House Chief of Staff Susie Wiles, the Senators write about the risks to national security by allowing unvetted DOGE staff and representatives to access classified and sensitive government materials.
    The Committee members demanded that the administration provide details to Congress about how DOGE staff and representatives are being vetted, which systems, records and information are being shared, and what steps the administration is taking to safeguard them from misuse or disclosure.
    “According to press reports, DOGE inspectors already have gained access to classified materials, including intelligence reports, at the United States Agency for International Development (USAID), sensitive government payment systems, including for Social Security and Medicare, at the Treasury Department, and federal personnel data from the Office of Personnel Management. Further, as of today the scope of DOGE’s access only seems to be expanding, as reports indicate DOGE has now entered the Department of Labor and other agencies,” the Senators wrote. “No information has been provided to Congress or the public as to who has been formally hired under DOGE, under what authority or regulations DOGE is operating, or how DOGE is vetting and monitoring its staff and representatives before providing them seemingly unfettered access to classified materials and Americans’ personal information.”
    The Senators added, “As you know, information is classified to protect the national security interests of the United States. Government employees and contractors only receive access to such information after they have undergone a rigorous background investigation and demonstrated a ‘need to know.’ Circumventing these requirements creates enormous counterintelligence and security risks. For example, improper access to facilities and systems containing security clearance files of Intelligence Community personnel puts at risk the safety of the men and women who serve this country. In addition, unauthorized access to classified information risks exposure of our operations and potentially compromises not only our own sources and methods, but also those of our allies and partners. If our sources, allies, and partners stop sharing intelligence because they cannot trust us to protect it, we will all be less safe.”
    “Unclassified government systems also contain sensitive data, the unintended disclosure of which could result in significant harm to individuals or organizations, including financial loss, identity theft, and exposure of medical and other private personal information. The U.S. Treasury payment systems, in particular, are used to disburse trillions of dollars each year, and contain everyday Americans’ personal information, such as Social Security numbers, home addresses, and bank accounts. Allowing DOGE access to this information raises unprecedented risks to Americans’ private personal and financial information,” the Senators continued.
    They concluded, “Such unregulated practices with our government’s most sensitive networks render Americans’ personal and financial information, and our classified national secrets, vulnerable to ransomware and cyber-attacks by criminals and foreign adversaries. The recent unprecedented Salt Typhoon and Change Healthcare attacks that affected tens of millions of Americans further underscore the importance of rigorously fortifying our government systems.”
    Joining King on the letter are Senators Mark Warner (D-VA), Ron Wyden (D-OR), Martin Heinrich (D-NM), Michael Bennet (D-CO), Kirsten Gillibrand (D-NY), Jon Ossoff (D-GA), and Mark Kelly (D-AZ).
    The full text of the letter is available here and below.
    +++
    Dear Ms. Wiles,
    We write to express our grave concern with the illegal actions currently being undertaken by the Department of Government Efficiency (DOGE), which risk exposure of classified and other sensitive information that jeopardizes national security and violates Americans’ privacy. The January 20 Executive Order establishes DOGE under the Executive Office of the President with DOGE Teams established by Agency Heads within their respective agencies, and requires the Administrator of DOGE to report to the White House Chief of Staff. According to press reports, DOGE inspectors already have gained access to classified materials, including intelligence reports, at the United States Agency for International Development (USAID), sensitive government payment systems, including for Social Security and Medicare, at the Treasury Department, and federal personnel data from the Office of Personnel Management. Further, as of today the scope of DOGE’s access only seems to be expanding, as reports indicate DOGE has now entered the Department of Labor and other agencies.
    No information has been provided to Congress or the public as to who has been formally hired under DOGE, under what authority or regulations DOGE is operating, or how DOGE is vetting and monitoring its staff and representatives before providing them seemingly unfettered access to classified materials and Americans’ personal information.
    As you know, information is classified to protect the national security interests of the United States. Government employees and contractors only receive access to such information after they have undergone a rigorous background investigation and demonstrated a “need to know.”  Circumventing these requirements creates enormous counterintelligence and security risks. For example, improper access to facilities and systems containing security clearance files of Intelligence Community personnel puts at risk the safety of the men and women who serve this country. In addition, unauthorized access to classified information risks exposure of our operations and potentially compromises not only our own sources and methods, but also those of our allies and partners.If our sources, allies, and partners stop sharing intelligence because they cannot trust us to protect it, we will all be less safe.
    Unclassified government systems also contain sensitive data, the unintended disclosure of which could result in significant harm to individuals or organizations, including financial loss, identity theft, and exposure of medical and other private personal information. The U.S. Treasury payment systems, in particular, are used to disburse trillions of dollars each year, and contain everyday Americans’ personal information, such as Social Security numbers, home addresses, and bank accounts. Allowing DOGE access to this information raises unprecedented risks to Americans’ private personal and financial information.
    Moreover, there are strict cybersecurity controls for accessing federal networks, which DOGE does not seem to be following, including by reportedly connecting personal devices to sensitive government systems. Such unregulated practices with our government’s most sensitive networks render Americans’ personal and financial information, and our classified national secrets, vulnerable to ransomware and cyber-attacks by criminals and foreign adversaries. The recent unprecedented Salt Typhoon and Change Healthcare attacks that affected tens of millions of Americans further underscore the importance of rigorously fortifying our government systems.
    The Executive Branch cannot operate without regard to rules, regulations, or Congressional oversight. The American people, and our intelligence officials, deserve to know that their information is being appropriately safeguarded. We therefore respectfully request written responses to the following questions by February 14, 2025:
    Provide a list of personnel operating under DOGE, their position or role, and their duties. 
    Pursuant to the Executive Order, DOGE teams are to be established by Agency Heads within their respective agencies. Provide a list of each agency that has established a DOGE team, and the agency personnel overseeing such team.
    Under what authorities is DOGE conducting its operations?
    Who is overseeing DOGE’s operations?
    Provide a list of each agency DOGE has requested information from.
    Provide a list of all unclassified systems, records, or other information DOGE has requested and/or gained access to. 
    Provide a list of all classified systems, records, or other information DOGE has requested and/or gained access to.
    Do DOGE staff or representatives have access to any Intelligence Community systems, networks, or other information? If so, please specify the extent of such access.
    Under what authority is DOGE requesting and/or gaining access to classified information?
    What security clearances have been provided to DOGE staff or representatives, and who has authorized such clearances?
    What processes have been followed prior to granting security clearances to DOGE staff or representatives?
    What vetting for potential conflicts of interest has been conducted prior to granting clearances or access to government systems, records, or other information to DOGE staff or representatives?
    Provide a list of each DOGE staff or representative who has requested and/or gained access to classified information, what clearance each such individual holds, and who authorized each security clearance. 
    Who is supervising and/or monitoring DOGE employee access to classified information?
    What processes have been followed prior to granting DOGE staff or representatives access to sensitive government systems and networks, and who has authorized such access?
    Who is supervising and/or monitoring DOGE employee access to sensitive government systems and networks?
    Has DOGE briefed you, the White House Chief of Staff, on the counterintelligence and other risks of DOGE staff or representatives accessing classified and other sensitive information? If so, please specify the date of the briefing and those in attendance.
    Has DOGE briefed you, the White House Chief of Staff, on the counterintelligence and other risks of DOGE staff or representatives accessing government networks and systems? If so, please specify the date of the briefing and those in attendance.
    Has the Office of the Director of National Intelligence and/or the Central Intelligence Agency been briefed on the counterintelligence and other risks of DOGE staff or representatives accessing Treasury’s payment systems? If so, please specify the date of the briefing and those in attendance. 
    Has the Office of the Director of National Intelligence and/or the Central Intelligence Agency been briefed on the counterintelligence and other risks of DOGE staff or representatives accessing USAID’s classified and other sensitive information, including security clearance files? If so, please specify the date of the briefing and those in attendance.
    What actions if any has the Office of the Director of National Intelligence and/or the Central Intelligence Agency taken to ensure DOGE employee access does not create counterintelligence risks?
    What actions if any has the Office of the Director of National Intelligence and/or the Central Intelligence Agency taken to ensure DOGE employee access does not compromise classified or other sensitive intelligence and/or personal information of intelligence community officials? 
    To underscore, DOGE seems to have unimpeded access to some of our nation’s most sensitive information, including classified materials and the private personal and financial information of everyday Americans. In light of such unprecedented risks to our national and economic security, we expect your immediate attention and prompt response.

    MIL OSI USA News

  • MIL-OSI USA: Gillibrand, Schumer, Tenney Reintroduce Bipartisan Bill To Establish The Fort Ontario Holocaust Refugee Shelter National Historical Park

    US Senate News:

    Source: United States Senator for New York Kirsten Gillibrand

    During WWII, Fort Ontario Was The Only Shelter In The United States for Jewish Refugees Fleeing The Holocaust;

    Legislation Would Keep Their Stories Alive For Generations To Come 

    U.S. Senate Minority Leader Chuck Schumer and U.S. Senator Kirsten Gillibrand are reintroducing the bipartisan Fort Ontario Holocaust Refugee Shelter National Historical Park Establishment Act. The Fort Ontario military complex dates back to the early 1840s, and during World War II, it was the only emergency refugee camp in the country for those fleeing the Holocaust. From August 1944 until February 1946, Fort Ontario housed 982 mostly Jewish refugees from Europe, most of whom went on to become American citizens. Designating the Fort Ontario Holocaust Refugee Shelter as a National Historic Park would give this important historical site permanent protection and help ensure that it is preserved for generations to come. Representative Claudia Tenney (R-NY) leads companion legislation in the House. 

    The Holocaust Refugee Shelter at Fort Ontario was a place of safety and hope during a dark moment in history, and it deserves recognition in the National Park System,” said Senator Gillibrand. “I am proud to once again be introducing this legislation to achieve this goal and am determined to work across the aisle to get it done.” 

    “It’s only fitting to preserve the rich history of the Safe Haven Holocaust Refuge Shelter Museum and Fort Ontario by officially designating Safe Haven as a National Historical Park. Together, Safe Haven and Fort Ontario tell the powerful history of Central New York and Oswego County dating back to the earliest days of our nation, standing proudly as a beacon of hope for hundreds of Jewish and European refugees forced to flee their homes to escape the horrors of the Holocaust and World War II,” said Senator Schumer. “I’ve been advocating for this designation in Congress for years and was proud to lead this legislation to passage in the Senate last year. Today, we’re taking a step closer to giving Americans from across the country the opportunity to learn about Safe Haven and the role it played in shaping Central New York. I urge my colleagues in the Senate to once again support this bill, and implore the House of Representatives to join us, so we can preserve the rich history of the Safe Haven Holocaust Refugee Shelter Museum, Fort Ontario and Oswego County for years to come.”

    “We must ensure that the historic importance of Fort Ontario is properly honored and preserved for future generations. Once an important site in the battles of the French and Indian War and the War of 1812, as well as a refugee camp for Holocaust survivors, it is crucial that we secure the recognition this significant historic site truly deserves. The Fort Ontario Holocaust Refugee Shelter National Historical Park Establishment Act aims to safeguard this monument’s profound legacy for years to come and solidify its status as a National Monument,” said Congresswoman Tenney.

    Senator Gillibrand has been advocating for Fort Ontario for many years. In 2018, she passed a bill to require the National Park Service to conduct a special resource study (SRS) – the first step in the process to designate a site as a unit of the National Park System – of the Fort Ontario site. In 2024, the SRS was finalized and concluded that the two-acre portion of Fort Ontario representing the fort’s use as a World-War II European refugee shelter meets all necessary criteria. Last year, the bill passed the Senate but failed to become law.

    The full text of the legislation is available here.

    “We are honored to have the federal government recognize this important chapter, not only of our heritage, but in the pages of American history,” said Oswego County Legislature Chairman James Weatherup, District 9. “This shelter was the only one of its kind in the U.S. The nearly 1,000 refugees who came to Oswego became part of the fabric of our community, and we are privileged to help share their stories.”

    “I want to thank Senator Schumer, Senator Gillibrand and Representative Tenney for their unwavering efforts to reintroduce the “Fort Ontario Holocaust Refugee Shelter National Historical Park Establishment Act”. I strongly believe that the prominence and history that our fort holds are remarkably significant to the story of our country and deserves a national designation. Fort Ontario took in 982 refugees; men, women, and children, who were allowed into the United States during the Holocaust. These refugees were housed in Oswego, NY from August of 1944 until February of 1946. With Fort Ontario being the only refugee shelter for Holocaust victims in all of the United States during World War II, I think that speaks to the gravity and deservedness of this designation,” said Mayor Robert Corradino, City of Oswego. “Thank you again to our representatives working to achieve this legislation. I have great hope to see it be awarded and keep the story of these men, women, and children alive for years to come, with a reach far greater than the Oswego community.”

    “The NYS Office of Parks, Recreation and Historic Preservation and Fort Ontario State Historic Site look forward to this potential partnership. The story of the 982 refugees who called Fort Ontario home from 1944-46 is indeed a national story and one we would be happy to assist the NPS, Safe Haven Museum and the City of Oswego to bring to greater national attention.”  said Matthew Macvittie, Historic Site Manager Fort Ontario NYS Historic Site.

    “I am thrilled that this long, bi-partisan effort to bring proper recognition to the truly unique and historically significant Fort Ontario Holocaust Refugee Shelter is coming to fruition.  I want to thank Senators Schumer and Gillibrand, and Congresswoman Tenney for sponsoring this truly worthwhile bill and for working with me throughout the years to make this happen,” said Former Congressman John Katko.

    “The Jewish Federation of Central New York, strongly urges that Fort Ontario be established as a unit of the National Park System. As the only refugee camp in the United States during the Holocaust, the Fort represents a moment of national commitment to justice and freedom.  It would be a worthy addition to the United States’ National Park System. Thank you, Senator Gillibrand, for continuing to push this legislation forward,” said Barbara Davis, Interim President/CEO, Jewish Federation of CNY

    “We are all excited about the re-introduction of the bill to honor the memory of the 982 refugees from the Holocaust who were housed at Fort Ontario during WWII. I want to thank former Congressman John Katko, Senators Kirsten Gillibrand and Chuck Schumer, and Congresswoman Claudia Tenney for their dedication to preserve this unique period in American history,” said Judy Coe Rapaport, Acting President, Safe Haven Holocaust Refugee Shelter Museum.

    “We are very excited to hear the news that Senator Schumer, Senator Gillibrand, and Congresswoman Tenney will be reintroducing to Congress the Fort Ontario Holocaust Refugee Shelter National Historical Park Establishment Act,” said Daniel Laird, President of Friends of Fort Ontario. “Fort Ontario is singularly unique in that it served as the only refugee camp or shelter for mostly Jewish Holocaust refugees in the United States during WWII. It is where the Holocaust came to America; where every day Americans first met the victims of Nazi persecution and heard their personal stories of survival first-hand. It is where the press finally found a Holocaust story they deemed worthy of feature coverage, and it resulted in the Holocaust moving from the back to the front pages of American newspapers after over eleven years of Hitler’s reign of terror. Furthermore, Fort Ontario is where the first group of refugees entered the United States outside the immigration quota system and were granted asylum. It is, therefore, the birthplace of American Refugee Policy. For these reasons and a list of many more too long to go into, Fort Ontario is well worthy of becoming a National Historical Park.”

    “After touring Ohrdurf Concentration Camp in Germany, Lt. General Dwight D. Eisenhower warned that someday some may deny that the Holocaust ever happened. In order for them to bear witness to Nazi atrocities, Eisenhower ordered troops in theatre including my father to tour Nazi concentration camps. With the last of the greatest generation and Holocaust survivors and Shelter Refugees passing on, and with Anti-Semitism and Holocaust denials on the rise, Eisenhower’s dire prediction has come true. As a National Historical Park, dedicated to interpreting the unique history and significance of the WWII Fort Ontario Emergency Refugee Shelter, Fort Ontario will forever prove to Americans and others that the Holocaust actually happened. I am deeply grateful to Senators Schumer and Gillibrand, and Congresswoman Tenney for making this great effort to establish the Fort Ontario Holocaust Refugee Shelter National Historical Park,” said Paul Lear, Historian, Member of the Board of the Safe Haven Holocaust Refugee Shelter Museum.

    “I am deeply grateful to the Senator Gillibrand, Senator Schumer and Representative Tenny for their unwavering advocacy in ensuring that the stories of refugees are never forgotten. These stories serve as a powerful reminder of how a single, symbolic gesture by the United States not only saved countless lives but also demonstrated the resilience and strength of the human spirit, inspiring us all to work towards a better, more compassionate world,” said Treasurer- Safe Haven Holocaust Refugee Shelter Museum and Friends of Fort Ontario.

    “One of my proudest accomplishments during my tenure as President of the Safe Haven Holocaust Refugee Shelter Museum, was developing a 2022 Grand Reopening that introduced the public to our 32 new exhibits!  Each exhibit celebrates the 987 survivors who were able to flee from the genocide and inhumane madness that was the Holocaust and be sheltered by the United States at Fort Ontario from 1944-1946.  This small group of Holocaust survivors’ harrowing stories of suffering, loss and resilience are the narratives of the Museum’s exhibits.  And with the support of the bipartisan Fort Ontario Holocaust Refugee Shelter National Historical Park Establishment Act, we will be able to ensure our beloved refugees and their descendants that the Museum’s precious historical artifacts and narratives will be nationally preserved, protected and administered on the same grounds where the echoes of hope and healing can still be heard!” said Audrey S. Hurley, Emeriti President, Safe Haven Holocaust Refugee Shelter Museum.

    “The Fort Ontario Refugee Shelter holds an indelible place in our nation’s history and is part of the fabric of this region. I appreciate the work of our federal representatives to help ensure this sacred place earns its rightful designation as a National Historic Park,” said Assembly Minority Leader Will Barclay.

    MIL OSI USA News

  • MIL-Evening Report: What’s the difference between climate and weather models? It all comes down to chaos

    Source: The Conversation (Au and NZ) – By Andy Hogg, Professor and Director of ACCESS-NRI, Australian National University

    Nadia Piet/AIxDESIGN & Archival Images of AI / Better Images of AI , CC BY-SA

    Weather forecasts help you decide whether to go for a picnic, hang out your washing or ride your bike to work. They also provide warnings for extreme events, and predictions to optimise our power grid.

    To achieve this, services such as the Australian Bureau of Meteorology use complex mathematical representations of Earth and its atmosphere – weather and climate models.

    The same software is also used by scientists to predict our future climate in the coming decades or even centuries. These predictions allow us to plan for, or avoid, the impacts of future climate change.

    Weather and climate models are highly complex. The Australian Community Climate and Earth System Simulator, for example, is comprised of millions of lines of computer code.

    Without climate and weather models we would be flying blind, both for short-term weather events and for our long-term future. But how do they work – and how are they different?

    The same physical principles

    Weather is the short-term behaviour of the atmosphere – the temperature on a given day, the wind, whether it’s raining and how much. Climate is about long-term statistics of weather events – the typical temperature in summer, or how often thunderstorms or floods happen each decade.

    The reason we can use the same modelling tools for both weather and climate is because they are both based on the same physical principles.

    These models compile a range of factors – the Sun’s radiation, air and water flow, land surface, clouds – into mathematical equations. These equations are solved on a bunch of tiny three-dimensional grid boxes and pieced together to predict the future state.

    These boxes are sort of like pixels that come together to make the big picture.

    These solutions are calculated on a computer – where using more grid boxes (finer resolution) gives better answers, but takes more computing resources. This is why the best predictions need a supercomputer, such as the National Computational Infrastructure’s Gadi, located in Canberra.

    Because weather and climate are governed by the same physical processes, we can use the same software to predict the behaviour of both.

    But there most of the similarities end.

    Climate and weather models are made up of thousands of 3-dimensional grid cells which are represented by mathematical equations that describe physical processes.
    NOAA

    The starting point

    The main differences between weather and climate come down to a single concept: “initialisation”, or the starting point of a model.

    In many cases, the simplest prediction for tomorrow’s weather is the “persistence” forecast: tomorrow’s weather will be similar to today. It means that, irrespective of how good your model is, if you start from the wrong conditions for today, you have no hope of predicting tomorrow.

    Persistence forecasts are often quite good for temperature, but they’re less effective for other aspects of weather such as rainfall or wind. Since these are often the most important aspects of weather to predict, meteorologists need more sophisticated methods.

    So, weather models use complex mathematics to create models that include weather information (from yesterday and today) and then make a good prediction of tomorrow. These predictions are a big improvement on persistence forecasts, but they won’t be perfect.

    In addition, the further ahead you try to predict, the more information you forget about the initial state and the worse your forecast performs. So you need to regularly update and rerun (or, to use modelling parlance, “initialise”) the model to get the best prediction.

    Weather services today can reliably predict three to seven days ahead, depending on the region, the season and the type of weather systems involved.

    Chaos reigns

    If we can only accurately predict weather systems about a week ahead before chaos takes over, climate models have no hope of predicting a specific storm next century.

    Instead, climate models use a completely different philosophy. They aim to produce the right type and frequency of weather events, but not a specific forecast of the actual weather.

    The cumulative effect of these weather events produces the climate state. This includes factors such as the average temperature and the likelihood of extreme weather events.

    So, a climate model doesn’t give us an answer based on weather information from yesterday or today – it is run for centuries to produce its own equilibrium for a simulated Earth.

    Because it is run for so long, a climate (also known as Earth system) model will need to account for additional, longer-term processes not factored into weather models, such as ocean circulation, the cryosphere (the frozen portions of the planet), the natural carbon cycle and carbon emissions from human activities.

    The additional complexity of these extra processes, combined with the need for century-long simulations, means these models use a lot of computing power. Constraints on computing means that we often include fewer grid boxes (that is, lower resolution) in climate models than weather models.

    A machine learning revolution?

    Is there a faster way?

    Enormous strides have been made in the past couple of years to predict the weather with machine learning. In fact, machine learning-based models can now outperform physics-based models.

    But these models need to be trained. And right now, we have insufficient weather observations to train them. This means their training still needs to be supplemented by the output of traditional models.

    And despite some encouraging recent attempts, it’s not clear that machine learning models will be able to simulate future climate change. The reason again comes down to training – in particular, global warming will shift the climate system to a different state for which we have no observational data whatsoever to train or verify a predictive machine learning model.

    Now more than ever, climate and weather models are crucial digital infrastructure. They are powerful tools for decision makers, as well as research scientists. They provide essential support for agriculture, resource management and disaster response, so understanding how they work is vital.

    Andy Hogg works for ACCESS-NRI, Australia’s Climate Simulator, based at the Australian National University. He receives funding for ACCESS-NRI from the Department of Education through the National Collaborative Research Infrastructure Strategy, and receives research funding from the Australian Research Council. He is a member of the Australian Meteorological and Oceanographic Society.

    Aidan Heerdegen works for ACCESS-NRI, Australia’s Climate Simulator, based at the Australian National University.

    ACCESS-NRI receives funding from the Federal Department of Education through the National Collaborative Infrastructure Strategy.

    Kelsey Druken works for ACCESS-NRI, Australia’s Climate Simulator, based at the Australian National University. ACCESS-NRI receives funding from the Australian federal government through the National Collaborative Research Infrastructure Strategy (NCRIS). She is a member of the American and European Geophysical Unions (AGU, EGU).

    ref. What’s the difference between climate and weather models? It all comes down to chaos – https://theconversation.com/whats-the-difference-between-climate-and-weather-models-it-all-comes-down-to-chaos-244914

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Thousands of students return to new and upgraded schools

    Source: New South Wales Premiere

    Published: 6 February 2025

    Released by: The Premier, Deputy Premier, Minister for Education and Early Learning


    More than ten thousand students across New South Wales are returning to new and improved schools for day one, term one today as the Minns Labor Government continues work to ensure public schools are quality places to teach and learn.

    Five permanent and two temporary schools will today welcome students for the very first time, at the same time as students return to substantially upgraded facilities at 11 other schools across the state.

    These new schools and upgrades mean more than 400 new classrooms, 20 sports facilities, seven halls, eight libraries and nine canteens will be put to use for the first time today.

    This is part of the Minns Labor Government’s record $8.9 billion investment to deliver new and upgraded schools across the state, including $3.6 billion for Western Sydney and $1.4 billion for regional communities.

    Three of these new public schools, Box Hill High School, Melonba Public School and Gledswood Hills High school have been stood up early, delivering desperately needed local schools which were promised but never delivered by the former Liberal National Government. 

    Students at Melonba High School will transition to their new permanent facilities today after initially opening in fast-tracked temporary buildings in Term 1, 2024.

    In the South West, brand new Gledswood Hills High School is also opening ahead of schedule today in temporary facilities while the permanent school, due to open in 2027, is built.

    Families in Sydney’s densest suburb will finally also have a local high school for their children with the opening of Wentworth Point High School today.

    In the staze’s south, Jindabyne Education Campus is opening with a new state-of-the-art high school and primary school, future-proofing education opportunities for the growing regional community.

    Other students will be starting 2025 alongside a new set of peers, with Randwick Boys and Randwick Girls High School coming together for the first time as Randwick High School; while the Hurstville and Penshurst campuses of Georges River College also begin the year as co-educational schools.

    The campuses have received facilities upgrades to enable the transition to co-education from Thursday, with further works in the pipeline. 

    NSW Premier Chris Minns said:

    “We’re wishing the best to every single student and teacher heading back to the classroom today. I hope you enjoyed the holidays and got the chance to relax and spend time with loved ones.

    “We want NSW public schools to be quality places to work and learn, which is why we are investing to ensure that no matter the post code, whether it’s a rapidly growing part of Western Sydney or a regional community, families have access to a quality, free, public education.”

    Deputy Premier, Minister for Education and Early Learning, Prue Car said:

    “This government is committed to rebuilding our public education system and ensuring every child has access to a world class public education close to home.

    “Of the seven new schools opening across the state today, I’m proud to say five of them are in rapidly-growing suburbs of Western Sydney that were neglected for years under the Liberals – and we have pulled out all the stops to deliver them not only on time, but in some cases well ahead of schedule.

    “Today’s opening of the new primary and high school in Melonba – and the many other new and upgraded schools opening across the state – are a testament to our commitment to investing in our children’s futures and providing them with the best learning opportunities possible.”

    Melonba Public School Principal Larissa Maraga said:

    “I cannot wait to welcome our students and families through the gates of their brand-new primary school for the very first time today.

    “To be opening this world-class public school months earlier than expected is truly incredible and I look forward to seeing what generations of students will achieve here at Melonba Public School.”

    Melonba High School Principal Leon Weatherstone said:

    “After a very successful start in 2024 in our temporary school, I am delighted that we are welcoming Melonba High School students and their families to our new permanent facilities that are truly world-class.

    “It has been the ultimate pleasure and privilege to be a part of bringing this school to life. I can’t thank the Melonba school community enough for their involvement and support in making today a reality.”

    New schools opening to students on Day 1, Term 1 2025:

    • Melonba Public School
    • Melonba High School
    • Wentworth Point High School
    • Jindabyne Public School
    • Jindabyne High School
    • Box Hill Public School (temporary school)
    • Gledswood Hills High School (temporary school)

    New facilities opening to students on Day 1, Term 1 2025:

    • Budawang School – new hydrotherapy pool
    • Castle Hill Public School – new classrooms, hall, canteen and COLA (further upgrade continuing)
    • Cecil Hills High School – new canteen and hall (further upgrade continuing)
    • Gregory Hills Public School – new playground and sports field
    • Hastings Secondary College, Port Macquarie Campus – new T-Block
    • Hurlstone Agricultural High School – new farm hub
    • Lane Cove Public School – new hall
    • Manly Village Public School – building refurbishments (further upgrade continuing)
    • Murwillumbah High School – full redevelopment
    • Neutral Bay Public School – new classrooms, library, canteen, admin facilities and landscaping
    • Wollumbin High School – refurbished canteen, classrooms and sports facilities (further upgrade continuing)

    MIL OSI News

  • MIL-OSI USA: Wyden Demands Answers About DOGE’s Illegal Seizure of Americans’ Private Data

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    February 05, 2025

    WASHINGTON D.C. – U.S. Sen. Ron Wyden today demanded White House Chief of Staff Susie Wiles answer questions about the acute risks posed to national security by letting unvetted ‘DOGE’ staff rifle through Americans’ private data and classified government materials. 

    Wyden, along with fellow Senate Intelligence Committee members Mark R. Warner (D-VA), Martin Heinrich (D-NM), Angus King (I-ME), Michael Bennet (D-CO), Kirsten Gillibrand (D-NY), Jon Ossoff (D-GA), and Mark Kelly (D-AZ), demanded the administration provide details to Congress about how DOGE staff and representatives are being vetted for security clearance; which systems, records and information are being shared; and what steps the administration is taking to safeguard them from misuse or disclosure.

    “According to press reports, DOGE inspectors already have gained access to classified materials, including intelligence reports, at the United States Agency for International Development (USAID), sensitive government payment systems, including for Social Security and Medicare, at the Treasury Department, and federal personnel data from the Office of Personnel Management. Further, as of today the scope of DOGE’s access only seems to be expanding, as reports indicate DOGE has now entered the Department of Labor and other agencies,” the senators wrote. “No information has been provided to Congress or the public as to who has been formally hired under DOGE, under what authority or regulations DOGE is operating, or how DOGE is vetting and monitoring its staff and representatives before providing them seemingly unfettered access to classified materials and Americans’ personal information.”

    As you know, information is classified to protect the national security interests of the United States. Government employees and contractors only receive access to such information after they have undergone a rigorous background investigation and demonstrated a ‘need to know.’ Circumventing these requirements creates enormous counterintelligence and security risks,” warned the senators. “For example, improper access to facilities and systems containing security clearance files of Intelligence Community personnel puts at risk the safety of the men and women who serve this country. In addition, unauthorized access to classified information risks exposure of our operations and potentially compromises not only our own sources and methods, but also those of our allies and partners. If our sources, allies, and partners stop sharing intelligence because they cannot trust us to protect it, we will all be less safe.”

    The senators added, “Unclassified government systems also contain sensitive data, the unintended disclosure of which could result in significant harm to individuals or organizations, including financial loss, identity theft, and exposure of medical and other private personal information. The U.S. Treasury payment systems, in particular, are used to disburse trillions of dollars each year, and contain everyday Americans’ personal information, such as Social Security numbers, home addresses, and bank accounts. Allowing DOGE access to this information raises unprecedented risks to Americans’ private personal and financial information.”

    “Such unregulated practices with our government’s most sensitive networks render Americans’ personal and financial information, and our classified national secrets, vulnerable to ransomware and cyber-attacks by criminals and foreign adversaries. The recent unprecedented Salt Typhoon and Change Healthcare attacks that affected tens of millions of Americans further underscore the importance of rigorously fortifying our government systems,” the senators cautioned.

    Finally, the senators also noted there are strict cybersecurity controls in place for federal networks which DOGE does not seem to be following, including by reportedly connecting personal devices to sensitive government systems and using personal emails. The senators concluded, “To underscore, DOGE seems to have unimpeded access to some of our nation’s most sensitive information, including classified materials and the private personal and financial information of everyday Americans. In light of such unprecedented risks to our national and economic security, we expect your immediate attention and prompt response.”

    The full text of the letter is here. 

    MIL OSI USA News

  • MIL-OSI USA: RELEASE: Senate Intelligence Members Sound the Alarm about “DOGE” Risk to National Security and American Privacy

    US Senate News:

    Source: United States Senator for Commonwealth of Virginia Mark R Warner

    WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, along with Ron Wyden (D-OR), Martin Heinrich (D-NM), Angus King (I-ME), Michael Bennet (D-CO), Kirsten Gillibrand (D-NY), Jon Ossoff (D-GA), and Mark Kelly (D-AZ), wrote to White House Chief of Staff Susie Wiles about the risks to our national security of allowing unvetted DOGE staff and representatives to access classified and sensitive government materials. The Committee members demanded that the administration provide details to Congress about how DOGE staff and representatives are being vetted, which systems, records and information are being shared, and what steps the administration is taking to safeguard them from misuse or disclosure.

    “According to press reports, DOGE inspectors already have gained access to classified materials, including intelligence reports, at the United States Agency for International Development (USAID), sensitive government payment systems, including for Social Security and Medicare, at the Treasury Department, and federal personnel data from the Office of Personnel Management. Further, as of today the scope of DOGE’s access only seems to be expanding, as reports indicate DOGE has now entered the Department of Labor and other agencies,” the senators wrote. “No information has been provided to Congress or the public as to who has been formally hired under DOGE, under what authority or regulations DOGE is operating, or how DOGE is vetting and monitoring its staff and representatives before providing them seemingly unfettered access to classified materials and Americans’ personal information.”

    The senators added, “As you know, information is classified to protect the national security interests of the United States. Government employees and contractors only receive access to such information after they have undergone a rigorous background investigation and demonstrated a ‘need to know.’ Circumventing these requirements creates enormous counterintelligence and security risks. For example, improper access to facilities and systems containing security clearance files of Intelligence Community personnel puts at risk the safety of the men and women who serve this country. In addition, unauthorized access to classified information risks exposure of our operations and potentially compromises not only our own sources and methods, but also those of our allies and partners. If our sources, allies, and partners stop sharing intelligence because they cannot trust us to protect it, we will all be less safe.”

    The senators also raised alarms about the privacy implications of allowing an unknown number of DOGE staff to access unclassified systems containing information about individual American taxpayers and organizations. 

    Wrote the senators, “Unclassified government systems also contain sensitive data, the unintended disclosure of which could result in significant harm to individuals or organizations, including financial loss, identity theft, and exposure of medical and other private personal information. The U.S. Treasury payment systems, in particular, are used to disburse trillions of dollars each year, and contain everyday Americans’ personal information, such as Social Security numbers, home addresses, and bank accounts. Allowing DOGE access to this information raises unprecedented risks to Americans’ private personal and financial information.”

    Finally, the senators also noted that there are strict cybersecurity controls in place for federal networks which DOGE does not seem to be following, including by reportedly connecting personal devices to sensitive government systems.

    “Such unregulated practices with our government’s most sensitive networks render Americans’ personal and financial information, and our classified national secrets, vulnerable to ransomware and cyber-attacks by criminals and foreign adversaries. The recent unprecedented Salt Typhoon and Change Healthcare attacks that affected tens of millions of Americans further underscore the importance of rigorously fortifying our government systems,” the letter says. 

    The full text of the letter is available here and below. 

    Dear Ms. Wiles,

    We write to express our grave concern with the illegal actions currently being undertaken by the Department of Government Efficiency (DOGE), which risk exposure of classified and other sensitive information that jeopardizes national security and violates Americans’ privacy. The January 20 Executive Order establishes DOGE under the Executive Office of the President with DOGE Teams established by Agency Heads within their respective agencies, and requires the Administrator of DOGE to report to the White House Chief of Staff. According to press reports, DOGE inspectors already have gained access to classified materials, including intelligence reports, at the United States Agency for International Development (USAID), sensitive government payment systems, including for Social Security and Medicare, at the Treasury Department, and federal personnel data from the Office of Personnel Management. Further, as of today the scope of DOGE’s access only seems to be expanding, as reports indicate DOGE has now entered the Department of Labor and other agencies.

    No information has been provided to Congress or the public as to who has been formally hired under DOGE, under what authority or regulations DOGE is operating, or how DOGE is vetting and monitoring its staff and representatives before providing them seemingly unfettered access to classified materials and Americans’ personal information.

    As you know, information is classified to protect the national security interests of the United States. Government employees and contractors only receive access to such information after they have undergone a rigorous background investigation and demonstrated a “need to know.”  Circumventing these requirements creates enormous counterintelligence and security risks. For example, improper access to facilities and systems containing security clearance files of Intelligence Community personnel puts at risk the safety of the men and women who serve this country. In addition, unauthorized access to classified information risks exposure of our operations and potentially compromises not only our own sources and methods, but also those of our allies and partners. If our sources, allies, and partners stop sharing intelligence because they cannot trust us to protect it, we will all be less safe.

    Unclassified government systems also contain sensitive data, the unintended disclosure of which could result in significant harm to individuals or organizations, including financial loss, identity theft, and exposure of medical and other private personal information. The U.S. Treasury payment systems, in particular, are used to disburse trillions of dollars each year, and contain everyday Americans’ personal information, such as Social Security numbers, home addresses, and bank accounts. Allowing DOGE access to this information raises unprecedented risks to Americans’ private personal and financial information.

    Moreover, there are strict cybersecurity controls for accessing federal networks, which DOGE does not seem to be following, including by reportedly connecting personal devices to sensitive government systems. Such unregulated practices with our government’s most sensitive networks render Americans’ personal and financial information, and our classified national secrets, vulnerable to ransomware and cyber-attacks by criminals and foreign adversaries. The recent unprecedented Salt Typhoon and Change Healthcare attacks that affected tens of millions of Americans further underscore the importance of rigorously fortifying our government systems.

    The Executive Branch cannot operate without regard to rules, regulations, or Congressional oversight. The American people, and our intelligence officials, deserve to know that their information is being appropriately safeguarded. We therefore respectfully request written responses to the following questions by February 14, 2025:

    1. Provide a list of personnel operating under DOGE, their position or role, and their duties. 
    2. Pursuant to the Executive Order, DOGE teams are to be established by Agency Heads within their respective agencies. Provide a list of each agency that has established a DOGE team, and the agency personnel overseeing such team.
    3. Under what authorities is DOGE conducting its operations?
    4. Who is overseeing DOGE’s operations? 
    5. Provide a list of each agency DOGE has requested information from.
    6. Provide a list of all unclassified systems, records, or other information DOGE has requested and/or gained access to. 
    7. Provide a list of all classified systems, records, or other information DOGE has requested and/or gained access to.
    8. Do DOGE staff or representatives have access to any Intelligence Community systems, networks, or other information? If so, please specify the extent of such access.
    9. Under what authority is DOGE requesting and/or gaining access to classified information?
    10. What security clearances have been provided to DOGE staff or representatives, and who has authorized such clearances?
    11. What processes have been followed prior to granting security clearances to DOGE staff or representatives?
    12. What vetting for potential conflicts of interest has been conducted prior to granting clearances or access to government systems, records, or other information to DOGE staff or representatives?
    13. Provide a list of each DOGE staff or representative who has requested and/or gained access to classified information, what clearance each such individual holds, and who authorized each security clearance. 
    14. Who is supervising and/or monitoring DOGE employee access to classified information?
    15. What processes have been followed prior to granting DOGE staff or representatives access to sensitive government systems and networks, and who has authorized such access?
    16. Who is supervising and/or monitoring DOGE employee access to sensitive government systems and networks?
    17. Has DOGE briefed you, the White House Chief of Staff, on the counterintelligence and other risks of DOGE staff or representatives accessing classified and other sensitive information? If so, please specify the date of the briefing and those in attendance.
    18. Has DOGE briefed you, the White House Chief of Staff, on the counterintelligence and other risks of DOGE staff or representatives accessing government networks and systems? If so, please specify the date of the briefing and those in attendance.
    19. Has the Office of the Director of National Intelligence and/or the Central Intelligence Agency been briefed on the counterintelligence and other risks of DOGE staff or representatives accessing Treasury’s payment systems? If so, please specify the date of the briefing and those in attendance.  
    20. Has the Office of the Director of National Intelligence and/or the Central Intelligence Agency been briefed on the counterintelligence and other risks of DOGE staff or representatives accessing USAID’s classified and other sensitive information, including security clearance files? If so, please specify the date of the briefing and those in attendance.
    21. What actions if any has the Office of the Director of National Intelligence and/or the Central Intelligence Agency taken to ensure DOGE employee access does not create counterintelligence risks?
    22. What actions if any has the Office of the Director of National Intelligence and/or the Central Intelligence Agency taken to ensure DOGE employee access does not compromise classified or other sensitive intelligence and/or personal information of intelligence community officials?  

    To underscore, DOGE seems to have unimpeded access to some of our nation’s most sensitive information, including classified materials and the private personal and financial information of everyday Americans. In light of such unprecedented risks to our national and economic security, we expect your immediate attention and prompt response.

    MIL OSI USA News

  • MIL-OSI: Weatherford Announces Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • Fourth quarter revenue of $1,341 million decreased 5% sequentially and 2% year-over-year; full year revenue of $5,513 million increased 7% from prior year, driven by international revenue growth of 10%
    • Fourth quarter operating income of $198 million decreased 19% sequentially and 8% year-over-year; full year operating income of $938 million increased 14% from prior year
    • Fourth quarter net income of $112 million, an 8.4% margin, decreased 29% sequentially and 20% year-over-year; full year net income of $506 million, a 9.2% margin, increased by 21% from prior year
    • Fourth quarter adjusted EBITDA* of $326 million, a 24.3% margin, decreased 8%, or 88 basis points, sequentially and increased 2%, or 74 basis points, year-over-year; full year adjusted EBITDA* of $1,382 million, a 25.1% margin, increased 17%, or 197 basis points, from prior year
    • Fourth quarter cash provided by operating activities of $249 million and adjusted free cash flow* of $162 million; full year cash provided by operating activities of $792 million and adjusted free cash flow* of $524 million
    • Shareholder return of $67 million for the quarter, which included dividend payments of $18 million and share repurchases of $49 million
    • Board approved quarterly cash dividend of $0.25 per share, payable on March 19, 2025, to shareholders of record as of February 21, 2025

    *Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

    HOUSTON, Feb. 05, 2025 (GLOBE NEWSWIRE) — Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the fourth quarter of 2024 and full year 2024.

    Revenues for the fourth quarter of 2024 were $1,341 million, a decrease of 5% sequentially and 2% year-over-year. Operating income was $198 million in the fourth quarter of 2024, compared to $243 million in the third quarter of 2024 and $216 million in the fourth quarter of 2023. Net income in the fourth quarter of 2024 was $112 million, with an 8.4% margin, a decrease of 29%, or 279 basis points, sequentially, and a decrease of 20%, or 193 basis points, year-over-year. Adjusted EBITDA* was $326 million, a 24.3% margin, a decrease of 8%, or 88 basis points, sequentially, and an increase of 2%, or 74 basis points, year-over-year. Basic income per share in the fourth quarter of 2024 was $1.54 compared to $2.14 in the third quarter of 2024 and $1.94 in the fourth quarter of 2023. Diluted income per share in the fourth quarter of 2024 was $1.50 compared to $2.06 in the third quarter of 2024 and $1.90 in the fourth quarter of 2023.

    Fourth quarter 2024 cash flows provided by operating activities were $249 million, compared to $262 million in the third quarter of 2024, and $375 million in the fourth quarter of 2023. Adjusted free cash flow* was $162 million, a decrease of $22 million sequentially, and $153 million year-over-year. Capital expenditures were $100 million in the fourth quarter of 2024, compared to $78 million in the third quarter of 2024, and $67 million in the fourth quarter of 2023.

    Revenue for the full year 2024 was $5,513 million, compared to revenues of $5,135 million in 2023. Operating income for the full year was $938 million, compared to $820 million in 2023. The Company’s full year 2024 net income was $506 million, compared to $417 million in 2023. Full year cash flows provided by operations were $792 million, compared to $832 million in 2023. Adjusted free cash flow* for the full year was $524 million compared to $651 million in 2023. Capital expenditures for the full year 2024 were $299 million, compared to $209 million in 2023.

    Girish Saligram, President and Chief Executive Officer, commented, “The fourth quarter witnessed a significant drop in activity levels in Latin America and a more cautious tone in a few key geographies. Despite a challenging environment in the fourth quarter, the overall full year 2024 was another one of setting new operational highs, and I would like to express my gratitude to the One Weatherford team for that. We ended the year with the best safety record we have ever had, strong margin expansion and solid cash generation.

    While the activity outlook continues to evolve, margins and cash flow performance continue to be the cornerstone of our financial and strategic objectives. We are well-positioned to deliver another year of strong cash flow generation in 2025. While there is some temporary activity reduction, we continue to believe in the industry’s mid to long-term resilience and remain committed to our goal of achieving EBITDA margins in the high 20’s over the next few years.”

    *Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

    Operational & Commercial Highlights

    • ADNOC awarded Weatherford a three-year contract for the provision of rigless services as part of the reactivation of ADNOC’s onshore strings.
    • Kuwait Oil Company (KOC) awarded Weatherford a Managed Pressure Drilling (MPD) services contract focused on improving operational efficiency, enhancing safety, accelerating well-delivery timelines, and reducing costs by deploying Weatherford’s innovative VictusTM Intelligent MPD system.
    • KOC awarded Weatherford a one-year contract to provide and operate two onshore Real Time Decision Centers.
    • A National Oil Company (NOC) in Qatar awarded Weatherford a five-year contract to provide fishing and drilling tools, with a five-year extension option.
    • An NOC in Asia awarded Weatherford a three-year contract for the provision of Wireline conveyance and tooling services and a three-year contract for Tubular Running Services (TRS) in onshore India.
    • OMV Petrom awarded Weatherford a two-year contract for openhole and cased-hole logging services in Romania.
    • A major operator in Asia awarded Weatherford a three-year contract for providing ModusTM MPD services for two zones in North and South Sumatra, and awarded a five-year contract to provide openhole and cased-hole Wireline in onshore Indonesia.
    • Khalda awarded Weatherford a three-year contract to deploy up to 300 wells in Egypt using CygNet® SCADA and ForeSite® platform.
    • Azule Energy awarded Weatherford a three-year contract to provide TRS for the NGC Project in offshore Angola. This is in addition to the recently awarded TRS contract in block 15/06 in the deepwater block.
    • PTTEP awarded Weatherford a 24-month contract to provide openhole Wireline Services in onshore Thailand.
    • A major operator in Asia awarded Weatherford with a four-year contract to provide Rotating Control Devices to enable MPD in offshore Indonesia.
    • Shell Petroleum Development Company awarded Weatherford a three-year contract to provide Well Completions and other related specialized services in onshore Nigeria.

    Technology Highlights
    On January 14, 2025, at the annual IKTVA forum held at Dahan Dharan Expo, Weatherford signed an agreement with SPARK, a fully integrated industrial ecosystem aimed at making Saudi Arabia a global energy hub. This strategic partnership, aligned with Saudi Arabia’s Vision 2030, enhances Weatherford’s local presence, boosts production capabilities, and supports the region’s energy goals. By advancing local content, fostering talent, and driving innovation, Weatherford demonstrates its commitment to economic growth and to supporting Saudi Arabia’s leadership in energy innovation.

    • Drilling & Evaluation (“DRE”)
      • In the North Sea, Weatherford successfully deployed the world’s first Dual Advanced Kickover Tool for Equinor. The unique solution enables gas lift valve replacements in just a single run, which significantly increases efficiency and reduces cost of conventional systems.
      • In Saudi Arabia, Weatherford deployed its compact wireline logging tools with shuttle technology to achieve a record total depth for Aramco. This extended reach well features the longest horizontal section, measuring 23,000 feet.
    • Well Construction and Completions (“WCC”)
      • In deepwater Brazil, Weatherford successfully installed the first OptiRoss® RFID Multi-Cycle Sliding Sleeve Valve for a major operator. The system enhances acid stimulation efficiency, improving production and boosting the reservoir’s oil recovery factor.
      • In the Middle East, Weatherford successfully deployed its market-leading Optimax Tubing Retrievable Safety Valve for an NOC. This deployment enabled gas lift valve replacements in a single run, significantly increasing efficiency and reducing costs compared to conventional systems.
    • Production and Intervention (“PRI”)
      • In the Middle East, Weatherford’s Alpha1Go remote re-entry system was deployed for an NOC, optimizing rig site operations by significantly reducing whipstock preparation time and minimizing red-zone exposure. This deployment improved both efficiency and safety, demonstrating the system’s effectiveness in facilitating well re-entry operations and real-time team collaboration in various rig environments.
      • In US land operations, Weatherford successfully deployed its first Reclaim Dual Barrier Plug and Abandon (P&A) system for a major operator. This innovative dual barrier P&A system safely and reliably abandons wells without the need to pull tubing. By eliminating the requirement for conventional drilling rigs, it significantly reduces costs and minimizes the carbon footprint.

    Shareholder Return

    During the fourth quarter of 2024, Weatherford repurchased shares for approximately $49 million and paid dividends of $18 million, resulting in total shareholder return of $67 million. Since the inception of the shareholder return program introduced earlier in 2024, the Company repurchased shares for approximately $99 million and paid dividends of $36 million, resulting in total shareholder return of $135 million.

    On January 29, 2025, our Board declared a cash dividend of $0.25 per share of the Company’s ordinary shares, payable on March 19, 2025, to shareholders of record as of February 21, 2025.

    Results by Reportable Segment

    Drilling and Evaluation (“DRE”)

        Three Months Ended   Variance     Twelve Months Ended   Variance
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.     YoY   Dec 31,
    2024
      Dec 31,
    2023
      YoY
    Revenue   $ 398     $ 435     $ 382     (9 )%   4 %   $ 1,682     $ 1,536     10 %
    Segment Adjusted EBITDA   $ 96     $ 111     $ 97     (14 )%   (1 )%   $ 467     $ 422     11 %
    Segment Adj EBITDA Margin     24.1 %     25.5 %     25.4 %   (140) bps   (127) bps     27.8 %     27.5 %   29 bps

    Fourth quarter 2024 DRE revenue of $398 million decreased by $37 million, or 9% sequentially, primarily from lower activity in Latin America, partly offset by higher international Wireline activity. Year-over-year DRE revenues increased by $16 million, or 4%, primarily from higher activity in North America and higher international Wireline activity, partly offset by lower activity in Latin America.

    Fourth quarter 2024 DRE segment adjusted EBITDA of $96 million decreased by $15 million, or 14% sequentially, primarily driven by lower activity in Latin America, partly offset by higher international Wireline activity. Year-over-year DRE segment adjusted EBITDA decreased by $1 million, or 1%, primarily due to lower activity in Latin America, partly offset by improved performance in Middle East/North Africa/Asia.

    Full year 2024 DRE revenues of $1,682 million increased by $146 million, or 10% compared to 2023, as higher Wireline and Drilling-related services activity were partly offset by lower Drilling Services in Latin America.

    Full year 2024 DRE segment adjusted EBITDA of $467 million increased by $45 million, or 11% compared to 2023, as higher MPD and Wireline activity were partly offset by lower activity in Latin America.

    Well Construction and Completions (“WCC”)

        Three Months Ended   Variance     Twelve Months Ended   Variance
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.     YoY   Dec 31,
    2024
      Dec 31,
    2023
      YoY
    Revenue   $ 505     $ 509     $ 480     (1 )%   5 %   $ 1,976     $ 1,800     10 %
    Segment Adjusted EBITDA   $ 148     $ 151     $ 131     (2 )%   13 %   $ 564     $ 455     24 %
    Segment Adj EBITDA Margin     29.3 %     29.7 %     27.3 %   (36) bps   202 bps     28.5 %     25.3 %   326 bps

    Fourth quarter 2024 WCC revenue of $505 million decreased by $4 million, or 1% sequentially, primarily due to lower activity in Europe/Sub-Sahara Africa/Russia, partly offset by higher Completions and TRS activity in Middle East/North Africa/Asia. Year-over-year WCC revenues increased by $25 million, or 5%, primarily due to higher activity in Middle East/North Africa/Asia and higher Liner Hangers and Well Services activity in Latin America, partly offset by lower activity in North America.

    Fourth quarter 2024 WCC segment adjusted EBITDA of $148 million decreased by $3 million, or 2% sequentially, primarily due to lower activity in Europe/Sub-Sahara Africa/Russia, partly offset by higher Completions and TRS activity in Middle East/North Africa/Asia. Year-over-year WCC segment adjusted EBITDA increased by $17 million, or 13%, primarily due to higher activity in Middle East/North Africa/Asia, partly offset by lower activity in Europe/Sub-Sahara Africa/Russia.

    Full year 2024 WCC revenues of $1,976 million increased by $176 million, or 10% compared to 2023, primarily from higher activity in Middle East/North Africa/Asia and Latin America, partly offset by lower activity in North America.

    Full year 2024 WCC segment adjusted EBITDA of $564 million increased by $109 million, or 24% compared to 2023, primarily due to improved fall through in major product lines across all geographies.

    Production and Intervention (“PRI”)

        Three Months Ended   Variance       Twelve Months Ended   Variance  
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.     YoY     Dec 31,
    2024
      Dec 31,
    2023
      YoY  
    Revenue   $ 364     $ 371     $ 386     (2 )%   (6 )%   $ 1,452     $ 1,472     (1 )%
    Segment Adjusted EBITDA   $ 78     $ 83     $ 88     (6 )%   (11 )%   $ 319     $ 323     (1 )%
    Segment Adj EBITDA Margin     21.4 %     22.4 %     22.8 %   (94) bps   (137) bps     22.0 %     21.9 %   3 bps

    Fourth quarter 2024 PRI revenue of $364 million decreased by $7 million, or 2% sequentially, primarily due to lower activity in Latin America and lower Intervention Services and Drilling Tools (ISDT) activity in Europe/Sub-Sahara Africa/Russia and North America. Year-over-year PRI revenue decreased by $22 million, or 6%, as lower activity in Middle East/North Africa/Asia and Latin America was partly offset by higher Artificial Lift activity in North America.

    Fourth quarter 2024 PRI segment adjusted EBITDA of $78 million, decreased by $5 million, or 6% sequentially, primarily from lower activity in Latin America and lower ISDT activity in Europe/Sub-Sahara Africa/Russia and North America, partly offset by higher Artificial Lift activity in Middle East/North Africa/Asia. Year-over-year PRI segment adjusted EBITDA decreased by $10 million, or 11% year-over-year, primarily due to lower activity in Latin America and Europe/Sub-Sahara Africa/Russia, partly offset by better ISDT and Artificial Lift fall through in North America.

    Full year 2024 PRI revenues of $1,452 million decreased by $20 million, or 1% compared to 2023, primarily due to lower international Pressure Pumping and Digital Solutions activity, partly offset by higher ISDT activity in Europe/Sub-Sahara Africa/Russia and Middle East/North Africa/Asia.

    Full year 2024 PRI segment adjusted EBITDA of $319 million decreased by $4 million, or 1% compared to 2023, as lower activity in international Pressure Pumping and Digital Solutions was partly offset by improved performance in Artificial Lift.

    Revenue by Geography

        Three Months Ended   Variance   Twelve Months Ended   Variance
    ($ in Millions)   Dec 31,
    2024
      Sep 30,
    2024
      Dec 31,
    2023
      Seq.   YoY   Dec 31,
    2024
      Dec 31,
    2023
      YoY
    North America   $ 261   $ 266   $ 248   (2 )%   5 %   $ 1,046   $ 1,068   (2 )%
                                     
    International   $ 1,080   $ 1,143   $ 1,114   (6 )%   (3 )%   $ 4,467   $ 4,067   10 %
    Latin America     312     358     342   (13 )%   (9 )%     1,393     1,387   %
    Middle East/North Africa/Asia     542     542     547   %   (1 )%     2,123     1,815   17 %
    Europe/Sub-Sahara Africa/Russia     226     243     225   (7 )%   %     951     865   10 %
    Total Revenue   $ 1,341   $ 1,409   $ 1,362   (5 )%   (2 )%   $ 5,513   $ 5,135   7 %


    North America

    Fourth quarter 2024 North America revenue of $261 million decreased by $5 million, or 2% sequentially, primarily due to activity decreases in the North and South regions, partly offset by activity increase offshore in the Gulf of Mexico. Year-over-year, North America increased by $13 million, or 5%, primarily from higher Artificial Lift and Wireline activity, partly offset by a decrease in activity across the WCC segment.

    Full year 2024 North America revenue of $1,046 million decreased by $22 million, or 2%, compared to 2023, primarily due to lower activity in the WCC and PRI segments, partly offset by higher Wireline activity.

    International

    Fourth quarter 2024 international revenue of $1,080 million decreased 6% sequentially and decreased 3% year-over-year, and full year 2024 international revenue of $4,467 million increased 10%, compared to 2023.

    Fourth quarter 2024 Latin America revenue of $312 million decreased by $46 million, or 13% sequentially, primarily due to lower Drilling-related Services, partly offset by higher Liner Hangers activity. Year-over-year, Latin America revenue decreased by $30 million, primarily due to lower activity in the DRE and PRI segments, partly offset by higher activity in Liner Hangers and Well Services.

    Full year 2024 Latin America revenue of $1,393 million was largely flat, compared to 2023.

    Fourth quarter 2024 revenue of $542 million in Middle East/North Africa/Asia was flat sequentially, as higher activity from Completions and Artificial Lift were largely offset by lower MPD and Integrated Services & Projects. Year-over-year, the Middle East/North Africa/Asia revenue decreased by $5 million, or 1%, primarily due to lower activity in the PRI segment, partly offset by higher Drilling-related services and Completions activity.

    Full year 2024 revenue of $2,123 million in Middle East/North Africa/Asia increased by $308 million, or 17%, compared to 2023, mainly due to increased activity in the DRE and WCC segments, partly offset by lower activity in Digital Solutions, Artificial Lift and Pressure Pumping.

    Fourth quarter 2024 Europe/Sub-Sahara Africa/Russia revenue of $226 million decreased by $17 million, or 7%, sequentially, mainly driven by lower Completions and ISDT activity, partly offset by higher Wireline activity. Year-over-year Europe/Sub-Sahara Africa/Russia revenue was largely flat due to increased activity in the DRE segment, largely offset by lower activity in the WCC and PRI segments.

    Full year 2024 Europe/Sub-Sahara Africa/Russia revenue of $951 million increased by $86 million, or 10% compared to 2023, due to increased activity in the DRE and WCC segments, partly offset by lower Pressure Pumping and Artificial Lift activity.

    About Weatherford
    Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.

    Conference Call Details

    Weatherford will host a conference call on Thursday, February 6, 2025, to discuss the Company’s results for the fourth quarter ended December 31, 2024. The conference call will begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time).

    Listeners are encouraged to download the accompanying presentation slides which will be available in the investor relations section of the Company’s website.

    Listeners can participate in the conference call via a live webcast at https://www.weatherford.com/investor-relations/investor-news-and-events/events/ or by dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of the U.S.) and asking for the Weatherford conference call. Participants should log in or dial in approximately 10 minutes prior to the start of the call.

    A telephonic replay of the conference call will be available until February 20, 2025, at 5:00 p.m. Eastern Time. To access the replay, please dial +1 877-344-7529 (within the U.S.) or +1 412-317-0088 (outside of the U.S.) and reference conference number 9530137. A replay and transcript of the earnings call will also be available in the investor relations section of the Company’s website.

    Contacts
    For Investors:
    Luke Lemoine
    Senior Vice President, Corporate Development & Investor Relations
    +1 713-836-7777
    investor.relations@weatherford.com

    For Media:
    Kelley Hughes
    Senior Director, Communications & Employee Engagement
    media@weatherford.com

    Forward-Looking Statements

    This news release contains projections and forward-looking statements concerning, among other things, the Company’s quarterly and full-year revenues, adjusted EBITDA*, adjusted EBITDA margin*, adjusted free cash flow*, net leverage*, shareholder return program, forecasts or expectations regarding business outlook, prospects for its operations, capital expenditures, expectations regarding future financial results, and are also generally identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “outlook,” “budget,” “intend,” “strategy,” “plan,” “guidance,” “may,” “should,” “could,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, although not all forward-looking statements contain these identifying words. Such statements are based upon the current beliefs of Weatherford’s management and are subject to significant risks, assumptions, and uncertainties. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those indicated in our forward-looking statements. Readers are cautioned that forward-looking statements are only predictions and may differ materially from actual future events or results, based on factors including but not limited to: global political disturbances, war, terrorist attacks, changes in global trade policies and tariffs, weak local economic conditions and international currency fluctuations; general global economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; various effects from conflicts in the Middle East and the Russia Ukraine conflict, including, but not limited to, nationalization of assets, extended business interruptions, sanctions, treaties and regulations imposed by various countries, associated operational and logistical challenges, and impacts to the overall global energy supply; cybersecurity issues; our ability to comply with, and respond to, climate change, environmental, social and governance and other sustainability initiatives and future legislative and regulatory measures both globally and in specific geographic regions; the potential for a resurgence of a pandemic in a given geographic area and related disruptions to our business, employees, customers, suppliers and other partners; the price and price volatility of, and demand for, oil and natural gas; the macroeconomic outlook for the oil and gas industry; our ability to generate cash flow from operations to fund our operations; our ability to effectively and timely adapt our technology portfolio, products and services to remain competitive, and to address and participate in changes to the market demands, including for the transition to alternate sources of energy such as geothermal, carbon capture and responsible abandonment, including our digitalization efforts; our ability to effectively execute our capital allocation framework; our ability to return capital to shareholders, including those related to the timing and amounts (including any plans or commitments in respect thereof) of any dividends and share repurchases; and the realization of additional cost savings and operational efficiencies.

    These risks and uncertainties are more fully described in Weatherford’s reports and registration statements filed with the Securities and Exchange Commission, including the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Accordingly, you should not place undue reliance on any of the Company’s forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law, and we caution you not to rely on them unduly.

    *Non-GAAP – refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

    Weatherford International plc
    Selected Statements of Operations (Unaudited)
                         
        Three Months Ended   Year Ended
    ($ in Millions, Except Per Share Amounts)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
      December
    31, 2024
      December
    31, 2023
    Revenues:                    
    DRE Revenues   $ 398     $ 435     $ 382     $ 1,682     $ 1,536  
    WCC Revenues     505       509       480       1,976       1,800  
    PRI Revenues     364       371       386       1,452       1,472  
    All Other     74       94       114       403       327  
    Total Revenues     1,341       1,409       1,362       5,513       5,135  
                         
    Operating Income:                    
    DRE Segment Adjusted EBITDA[1]   $ 96     $ 111     $ 97     $ 467     $ 422  
    WCC Segment Adjusted EBITDA[1]     148       151       131       564       455  
    PRI Segment Adjusted EBITDA[1]     78       83       88       319       323  
    All Other[2]     11       23       13       84       38  
    Corporate[2]     (7 )     (13 )     (8 )     (52 )     (52 )
    Depreciation and Amortization     (83 )     (89 )     (83 )     (343 )     (327 )
    Share-based Compensation     (10 )     (10 )     (9 )     (45 )     (35 )
    Other Charges     (35 )     (13 )     (13 )     (56 )     (4 )
    Operating Income     198       243       216       938       820  
                         
    Other Expense:                    
    Interest Expense, Net of Interest Income of $12, $13, $12, $56 and $59     (25 )     (24 )     (31 )     (102 )     (123 )
    Loss on Blue Chip Swap Securities                       (10 )     (57 )
    Other Expense, Net     (4 )     (41 )     (36 )     (87 )   (134 )
    Income Before Income Taxes     169       178       149       739       506  
    Income Tax Provision     (45 )     (12 )     (2 )     (189 )     (57 )
    Net Income     124       166       147       550       449  
    Net Income Attributable to Noncontrolling Interests     12       9       7       44       32  
    Net Income Attributable to Weatherford   $ 112     $ 157     $ 140     $ 506     $ 417  
                         
    Basic Income Per Share   $ 1.54     $ 2.14     $ 1.94     $ 6.93     $ 5.79  
    Basic Weighted Average Shares Outstanding     72.6       73.2       72.1       73.0       71.9  
                         
    Diluted Income Per Share[3]   $ 1.50     $ 2.06     $ 1.90     $ 6.75     $ 5.66  
    Diluted Weighted Average Shares Outstanding     74.5       75.2       73.9       74.9       73.7  
                                             
    [1]   Segment adjusted EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting” and represents segment earnings before interest, taxes, depreciation, amortization, share-based compensation and other adjustments. Research and development expenses are included in segment adjusted EBITDA.
    [2]   All Other includes results from non-core business activities (including integrated services and projects), and Corporate includes overhead support and centrally managed or shared facilities costs. All Other and Corporate do not individually meet the criteria for segment reporting.
    [3]   Included the maximum potentially dilutive shares contingently issuable for an acquisition consideration during the three months ended September 30, 2024, the value of which was adjusted out of Net Income Attributable to Weatherford in calculating diluted income per share.
    Weatherford International plc
    Selected Balance Sheet Data (Unaudited)
           
    ($ in Millions) December 31, 2024   December 31, 2023
    Assets:      
    Cash and Cash Equivalents $ 916   $ 958
    Restricted Cash   59     105
    Accounts Receivable, Net   1,261     1,216
    Inventories, Net   880     788
    Property, Plant and Equipment, Net   1,061     957
    Intangibles, Net   325     370
           
    Liabilities:      
    Accounts Payable   792     679
    Accrued Salaries and Benefits   302     387
    Current Portion of Long-term Debt   17     168
    Long-term Debt   1,617     1,715
           
    Shareholders’ Equity:      
    Total Shareholders’ Equity   1,283     922
               
    Weatherford International plc
    Selected Cash Flows Information (Unaudited)
                         
        Three Months Ended   Year Ended
    ($ in Millions)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
      December
    31, 2024
      December
    31, 2023
    Cash Flows From Operating Activities:                    
    Net Income   $ 124     $ 166     $ 147     $ 550     $ 449  
    Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:                    
    Depreciation and Amortization     83       89       83       343       327  
    Foreign Exchange Losses (Gain)     (2 )     35       43       56       116  
    Loss on Blue Chip Swap Securities                       10       57  
    Gain on Disposition of Assets     (2 )     (1 )           (35 )     (11 )
    Deferred Income Tax Provision (Benefit)           (19 )     (19 )     8       (86 )
    Share-Based Compensation     10       10       9       45       35  
    Changes in Accounts Receivable, Inventory, Accounts Payable and Accrued Salaries and Benefits     24       30       151       (120 )     (84 )
    Other Changes, Net     12       (48 )     (39 )     (65 )     29  
    Net Cash Provided By Operating Activities     249       262       375       792       832  
                         
    Cash Flows From Investing Activities:                    
    Capital Expenditures for Property, Plant and Equipment     (100 )     (78 )     (67 )     (299 )     (209 )
    Proceeds from Disposition of Assets     13             7       31       28  
    Purchases of Blue Chip Swap Securities                       (50 )     (110 )
    Proceeds from Sales of Blue Chip Swap Securities                       40       53  
    Business Acquisitions, Net of Cash Acquired           (15 )           (51 )     (4 )
    Other Investing Activities     1       1       (71 )     36       (47 )
    Net Cash Used In Investing Activities     (86 )     (92 )     (131 )     (293 )     (289 )
                         
    Cash Flows From Financing Activities:                    
    Repayments of Long-term Debt     (23 )     (5 )     (80 )     (287 )     (386 )
    Distributions to Noncontrolling Interests     (20 )     (10 )     (31 )     (39 )     (52 )
    Tax Remittance on Equity Awards     (22 )           (2 )     (31 )     (56 )
    Share Repurchases     (49 )     (50 )           (99 )      
    Dividends Paid     (18 )     (18 )           (36 )      
    Other Financing Activities     (1 )     (6 )     (13 )     (19 )     (20 )
    Net Cash Used In Financing Activities   $ (133 )   $ (89 )   $ (126 )   $ (511 )   $ (514 )

                      

    Weatherford International plc
    Non-GAAP Financial Measures Defined (Unaudited)

    We report our financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, Weatherford’s management believes that certain non-GAAP financial measures (as defined under the SEC’s Regulation G and Item 10(e) of Regulation S-K) may provide users of this financial information additional meaningful comparisons between current results and results of prior periods and comparisons with peer companies. The non-GAAP amounts shown in the following tables should not be considered as substitutes for results reported in accordance with GAAP but should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Adjusted EBITDA* – Adjusted EBITDA* is a non-GAAP measure and represents consolidated income before interest expense, net, income taxes, depreciation and amortization expense, and excludes, among other items, restructuring charges, share-based compensation expense, as well as other charges and credits. Management believes adjusted EBITDA* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA* should be considered in addition to, but not as a substitute for consolidated net income and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Adjusted EBITDA Margin* – Adjusted EBITDA margin* is a non-GAAP measure which is calculated by dividing consolidated adjusted EBITDA* by consolidated revenues. Management believes adjusted EBITDA margin* is useful to assess and understand normalized operating performance and trends. Adjusted EBITDA margin* should be considered in addition to, but not as a substitute for consolidated net income margin and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Adjusted Free Cash Flow* – Adjusted Free Cash Flow* is a non-GAAP measure and represents cash flows provided by (used in) operating activities, less capital expenditures plus proceeds from the disposition of assets. Management believes adjusted free cash flow* is useful to understand our performance at generating cash and demonstrates our discipline around the use of cash. Adjusted free cash flow* should be considered in addition to, but not as a substitute for cash flows provided by operating activities and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    Net Debt* – Net Debt* is a non-GAAP measure that is calculated taking short and long-term debt less cash and cash equivalents and restricted cash. Management believes the net debt* is useful to assess the level of debt in excess of cash and cash and equivalents as we monitor our ability to repay and service our debt. Net debt* should be considered in addition to, but not as a substitute for overall debt and total cash and should be viewed in addition to the Company’s results prepared in accordance with GAAP.​

    Net Leverage* – Net Leverage* is a non-GAAP measure which is calculated by dividing by taking net debt* divided by adjusted EBITDA* for the trailing 12 months. Management believes the net leverage* is useful to understand our ability to repay and service our debt. Net leverage* should be considered in addition to, but not as a substitute for the individual components of above defined net debt* divided by consolidated net income attributable to Weatherford and should be viewed in addition to the Company’s reported results prepared in accordance with GAAP.

    *Non-GAAP – as defined above and reconciled to the GAAP measures in the section titled GAAP to Non-GAAP Financial Measures Reconciled

    Weatherford International plc
    GAAP to Non-GAAP Financial Measures Reconciled (Unaudited)
     
                         
        Three Months Ended   Year Ended
    ($ in Millions, Except Margin in Percentages)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
      December
    31, 2024
      December
    31, 2023
    Revenues   $ 1,341     $ 1,409     $ 1,362     $ 5,513     $ 5,135  
    Net Income Attributable to Weatherford   $ 112     $ 157     $ 140     $ 506     $ 417  
    Net Income Margin     8.4 %     11.1 %     10.3 %     9.2 %     8.1 %
    Adjusted EBITDA*   $ 326     $ 355     $ 321     $ 1,382     $ 1,186  
    Adjusted EBITDA Margin*     24.3 %     25.2 %     23.6 %     25.1 %     23.1 %
                         
    Net Income Attributable to Weatherford   $ 112     $ 157     $ 140     $ 506     $ 417  
    Net Income Attributable to Noncontrolling Interests     12       9       7       44       32  
    Income Tax Provision     45       12       2       189       57  
    Interest Expense, Net of Interest Income of $12, $13, $12, $56 and $59     25       24       31       102       123  
    Loss on Blue Chip Swap Securities                       10       57  
    Other Expense, Net     4       41       36       87       134  
    Operating Income     198       243       216       938       820  
    Depreciation and Amortization     83       89       83       343       327  
    Other Charges[1]     35       13       13       56       4  
    Share-Based Compensation     10       10       9       45       35  
    Adjusted EBITDA*   $ 326     $ 355     $ 321     $ 1,382     $ 1,186  
                         
    Net Cash Provided By Operating Activities   $ 249     $ 262     $ 375     $ 792     $ 832  
    Capital Expenditures for Property, Plant and Equipment     (100 )     (78 )     (67 )     (299 )     (209 )
    Proceeds from Disposition of Assets     13             7       31       28  
    Adjusted Free Cash Flow*   $ 162     $ 184     $ 315     $ 524     $ 651  
    [1]   Other charges in the three and twelve months ended December 31, 2024, primarily included severance and restructuring costs and fees to third-party financial institutions related to collections of certain receivables from our largest customer in Mexico.
         

    *Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined

    Weatherford International plc
    GAAP to Non-GAAP Financial Measures Reconciled Continued (Unaudited)
     
                   
         
    ($ in Millions)   December
    31, 2024
      September
    30, 2024
      December
    31, 2023
     
    Current Portion of Long-term Debt   $ 17   $ 21   $ 168  
    Long-term Debt     1,617     1,627     1,715  
    Total Debt   $ 1,634   $ 1,648   $ 1,883  
                   
    Cash and Cash Equivalents   $ 916   $ 920   $ 958  
    Restricted Cash     59     58     105  
    Total Cash   $ 975   $ 978   $ 1,063  
                   
    Components of Net Debt              
    Current Portion of Long-term Debt   $ 17   $ 21   $ 168  
    Long-term Debt     1,617     1,627     1,715  
    Less: Cash and Cash Equivalents     916     920     958  
    Less: Restricted Cash     59     58     105  
    Net Debt*   $ 659   $ 670   $ 820  
                   
    Net Income for trailing 12 months   $ 506   $ 534   $ 417  
    Adjusted EBITDA* for trailing 12 months   $ 1,382   $ 1,377   $ 1,186  
                   
    Net Leverage* (Net Debt*/Adjusted EBITDA*)     0.48 x   0.49 x   0.69 x
                         

    *Non-GAAP – as reconciled to the GAAP measures above and defined in the section titled Non-GAAP Financial Measures Defined

    The MIL Network

  • MIL-OSI USA: Two Days Left for Georgians to Apply for Federal Disaster Assistance

    Source: US Federal Emergency Management Agency

    Headline: Two Days Left for Georgians to Apply for Federal Disaster Assistance

    Two Days Left for Georgians to Apply for Federal Disaster Assistance

    The deadline is quickly approaching for Georgia survivors of Tropical Storm Debby (Aug. 4—20. 2024) and Hurricane Helene (Sept. 24—Oct. 30, 2024) in the counties designated for Individual Assistance to apply federal assistance.The application period to apply for federal disaster assistance ends in two days, on Friday, Feb. 7, 2025.Counties approved for assistance for Hurricane Helene are: Appling, Atkinson, Bacon, Ben Hill, Berrien, Brantley, Brooks, Bryan, Bulloch, Burke, Butts, Camden, Candler, Charlton, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Dodge, Echols, Effingham, Elbert, Emanuel, Evans, Fulton, Glascock, Glynn, Hancock, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Long, Lowndes, McDuffie, McIntosh, Montgomery, Newton, Pierce, Rabun, Richmond, Screven, Stephens, Taliaferro, Tattnall, Telfair, Thomas, Tift, Toombs, Treutlen, Ware, Warren, Washington, Wayne, Wheeler and Wilkes.Counties approved for assistance for Tropical Storm Debby are: Bryan, Bulloch, Chatham, Effingham, Evans, Liberty, Long and Screven.There are four ways to apply for assistance:Online at DisasterAssistance.gov.The FEMA App for mobile devicesCall toll-free 800-621-3362.  Survivors can also contact the Georgia Call Center Monday through Saturday at 678-547-2861 for assistance with their application.FEMA Disaster Recovery Centers. For locations and hours, go online to fema.gov/drcFEMA provides help to all disaster survivors, regardless of race, color, national origin, sex, sexual orientation, religion, age, disability, English proficiency or economic status. Our top priority is ensuring that disaster assistance is reaching people in need.For the latest information about Georgia’s recovery, visit fema.gov/helene/georgia and fema.gov/disaster/4821. Follow FEMA on X at x.com/femaregion4 or follow FEMA on social media at: FEMA Blog on fema.gov, @FEMA or @FEMAEspanol on X, FEMA or FEMA Espanol on Facebook, @FEMA on Instagram, and via FEMA YouTube channel. Also, follow Acting Administrator Cameron Hamilton on X @FEMA_Cam.
    jakia.randolph
    Wed, 02/05/2025 – 13:37

    MIL OSI USA News

  • MIL-OSI Europe: B10-0061/2025

    Source: European Parliament

    Committee on the Environment, Public Health and Food Safety
    Members responsible: Martin Häusling, Biljana Borzan, Anja Hazekamp

    B10‑0061/2025

    European Parliament resolution on the draft Commission implementing decision authorising the placing on the market of products containing, consisting of or produced from genetically modified maize DP910521 pursuant to Regulation (EC) No 1829/2003 of the European Parliament and of the Council (D102174/03 – (2024/3010(RSP))

    The European Parliament,

     having regard to the draft Commission implementing decision authorising the placing on the market of products containing, consisting of or produced from genetically modified maize DP910521 pursuant to Regulation (EC) No 1829/2003 of the European Parliament and of the Council (D102174/03),

     having regard to Regulation (EC) No 1829/2003 of the European Parliament and of the Council of 22 September 2003 on genetically modified food and feed[1], and in particular Article 7(3) and Article 19(3) thereof,

     having regard to the vote of the Standing Committee on Plants, Animals, Food and Feed referred to in Article 35 of Regulation (EC) No 1829/2003, on 22 November 2024, at which no opinion was delivered, and the vote of the Appeal Committee on 17 December 2024, at which again no opinion was delivered,

     having regard to Article 11 of Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers[2],

     having regard to the opinion adopted by the European Food Safety Authority (EFSA) on 19 June 2024, and published on 1 August 2024[3],

     having regard to its previous resolutions objecting to the authorisation of genetically modified organisms (‘GMOs’)[4],

     having regard to Rule 115(2) and (3) of its Rules of Procedure,

     having regard to the motion for a resolution of the Committee on the Environment, Public Health and Food Safety,

    A. whereas on 27 June 2022, Corteva Agriscience Belgium B.V., based in Belgium, on behalf of Corteva Agriscience LLC, based in the United States, submitted an application to the national competent authority of the Netherlands for the placing on the market of foods, food ingredients and feed containing, consisting of or produced from genetically modified maize DP910521 (the ‘GM maize’);

    B. whereas the GM maize produces the Cry1B.34 toxin and is resistant to the herbicide glufosinate;

    C. whereas glufosinate is classified as toxic to reproduction 1B and therefore meets the ‘cut-off criteria’ set out in Regulation (EC) No 1107/2009 of the European Parliament and of the Council[5]; whereas the approval of glufosinate for use in the Union expired on 31 July 2018;

    D. whereas Cry1B.34 is a synthetic fusion protein combining Cry1B, Cry1Ca1 and Cry9Db1, engineered for insect resistance against lepidopteran pests, without demonstrated specificity to target species;

    E. whereas the genetic modification includes a two-step process using CRISPR/Cas9 to insert a ‘landing pad’, followed by microprojectile bombardment for gene expression cassette insertion;

    Lack of assessment of the complementary herbicide

    F. whereas Commission Implementing Regulation (EU) No 503/2013[6] requires an assessment of whether the expected agricultural practices influence the outcome of the studied endpoints; whereas, according to that Implementing Regulation, this is especially relevant for herbicide-tolerant plants;

    G. whereas the vast majority of GM crops have been genetically modified so that they are tolerant to one or more ‘complementary’ herbicides which can be used throughout the cultivation of the GM crop, without the crop dying, as would be the case for a non-herbicide tolerant crop; whereas a number of studies show that herbicide-tolerant GM crops result in a higher use of complementary herbicides, in large part because of the emergence of herbicide-tolerant weeds[7];

    H. whereas herbicide-tolerant GM crops lock farmers into a weed management system that is largely or wholly dependent on herbicides, and does so by charging a premium for GM seeds that can be justified only if farmers purchasing such seeds also spray the complementary herbicides; whereas heightened reliance on complementary herbicides on farms planting the GM crops accelerates the emergence and spread of weeds resistant to those herbicides, thereby triggering the need for even more herbicide use, a vicious circle known as ‘the herbicide treadmill’;

    I. whereas the adverse impacts stemming from excessive reliance on herbicides will worsen as regards soil health, water quality, and above and below ground biodiversity, and lead to increased human and animal exposure, potentially also via increased herbicide residues on food and feed;

    J. whereas assessment of herbicide residues and metabolites found on GM plants is considered outside the remit of the EFSA Panel on Genetically Modified Organisms (‘EFSA GMO Panel’) and is therefore not undertaken as part of the authorisation process for GMOs;

    Outstanding questions concerning Bt toxins

    K. whereas a number of studies show that side effects have been observed that may affect the immune system following exposure to Bt toxins and that some Bt toxins may have adjuvant properties[8], meaning that they can increase the allergenicity of other proteins with which they come into contact;

    L. whereas a scientific study found that the toxicity of Bt toxins may also be increased through interaction with residues from spraying with herbicides, and that further studies are needed on the combinatorial effects of ‘stacked’ events (GM crops which have been modified to be herbicide-tolerant and to produce insecticides in the form of Bt toxins)[9]; whereas assessment of the potential interaction of herbicide residues and their metabolites with Bt toxins is, however, considered to be outside the remit of the EFSA GMO Panel and is, therefore, not undertaken as part of the risk assessment;

    Bt crops: effects on non-target organisms

    M. whereas, unlike the use of insecticides, where exposure is at the time of spraying and for a limited period afterwards, the use of Bt GM crops leads to continuous exposure of the target and non-target organisms to Bt toxins;

    N. whereas the assumption that Bt toxins exhibit a single target-specific mode of action can no longer be considered correct and effects on non-target organisms cannot be excluded; whereas an increasing number of non-target organisms are reported to be affected in many ways;

    Member State and stakeholder comments

    O. whereas Member States submitted many critical comments to EFSA during the three-month consultation period[10], including that the list of relevant studies, identified in the literature review of the applicant, did not include studies on the fate of Bt proteins in the environment or on potential effects of Btcrop residues on non-target organisms even though such studies exist;

    P. whereas field trials conducted for compositional and phenotypic analysis of the GM maize failed to consider diverse environmental conditions and genetic backgrounds relevant to its cultivation, particularly in countries like Brazil;

    Q. whereas the toxicity assessment of Cry1B.34 does not account for combinatorial effects with plant constituents or residues from herbicide applications;

    R. whereas glufosinate, the complementary herbicide, is associated with significant risks to biodiversity, soil and water quality, and long-term ecosystem health;

    S. whereas the risk of gene flow to wild relatives such as teosinte, reported in Spain and France, raises concerns about transgene persistence and environmental impacts;

    T. whereas the monitoring requirements under Implementing Regulation (EU) No 503/2013 are inadequately addressed, with no independent verification of data provided;

    Ensuring a global level playing field and upholding the Union’s international obligations

    U. whereas the conclusions of the Strategic Dialogue on the Future of EU Agriculture[11] call on the Commission to reassess its approach on market access for agri-food imports and exports, given the challenge of diverging standards of the Union and its trading partners; whereas fairer trade relations, on a global level, coherent with goals for a healthy environment, were one of the main demands of farmers during the demonstrations of 2023 and 2024;

    V. whereas a 2017 report by the United Nations’ (UN) Special Rapporteur on the right to food found that, particularly in developing countries, hazardous pesticides have catastrophic impacts on health[12]; whereas the UN Sustainable Development Goal (‘UN SDG’) Target 3.9 aims by 2030 to substantially reduce the number of deaths and illnesses from hazardous chemicals and air, water and soil pollution and contamination[13];

    W. whereas the Kunming-Montreal Global Biodiversity Framework, agreed at the COP15 of the UN Convention on Biological Diversity (‘UN CBD’) in December 2022, includes a global target to reduce the risk of pesticides by at least 50 % by 2030[14];

    X. whereas Regulation (EC) No 1829/2003 states that GM food or feed must not have adverse effects on human health, animal health or the environment, and requires the Commission to take into account any relevant provisions of Union law and other legitimate factors relevant to the matter under consideration when drafting its decision; whereas such legitimate factors should include the Union’s obligations under the UN SDGs and the UN CBD;

    Reducing dependency on imported feed

    Y. whereas one of the lessons from the COVID-19 crisis and the still ongoing war in Ukraine is the need for the Union to end the dependencies on some critical materials; whereas in the mission letter to Commissioner Christophe Hansen, Commission President Ursula von der Leyen asks him to look at ways to reduce imports of critical commodities[15];

    Undemocratic decision-making

    Z. whereas, in its eighth term, Parliament adopted a total of 36 resolutions objecting to the placing on the market of GMOs for food and feed (33 resolutions) and to the cultivation of GMOs in the Union (three resolutions); whereas, in its ninth term, Parliament adopted 38 resolutions objecting to placing GMOs on the market and has adopted another 8 resolutions objecting to placing GMOs on the market already in the current 10th term ;

    AA. whereas despite its own acknowledgement of the democratic shortcomings, the lack of support from Member States and the objections of Parliament, the Commission continues to authorise GMOs;

    AB. whereas no change of law is required for the Commission to be able not to authorise GMOs when there is no qualified majority of Member States in favour in the Appeal Committee[16];

    AC. whereas the vote on 22 November 2024 of the Standing Committee on Plants, Animals, Food and Feed referred to in Article 35 of Regulation (EC) No 1829/2003 delivered no opinion, meaning that the authorisation was not supported by a qualified majority of Member States; whereas the vote on 17 December 2024 of the Appeal Committee again delivered no opinion;

    1. Considers that the draft Commission implementing decision exceeds the implementing powers provided for in Regulation (EC) No 1829/2003;

    2. Considers that the draft Commission implementing decision is not consistent with Union law, in that it is not compatible with the aim of Regulation (EC) No 1829/2003, which is, in accordance with the general principles laid down in Regulation (EC) No 178/2002 of the European Parliament and of the Council[17], to provide the basis for ensuring a high level of protection of human life and health, animal health and welfare, and environmental and consumer interests, in relation to GM food and feed, while ensuring the effective functioning of the internal market;

    3. Calls on the Commission to withdraw its draft implementing decision and to submit a new draft to the committee;

    4. Calls on the Commission to ensure convergence of standards between the Union and its partners in free trade agreement negotiations, in order to meet Union safety standards;

    5. Calls on the Commission not to authorise the GM maize due to the increased risks to biodiversity, food safety and workers’ health in line with the One Health approach;

    6. Expects the Commission, as matter of urgency, to deliver on its commitment[18] to come forward with a proposal to ensure that hazardous chemicals banned in the Union are not produced for export;

    7. Welcomes the fact that the Commission finally recognised, in a letter of 11 September 2020 to Members, the need to take sustainability into account when it comes to authorisation decisions on GMOs[19]; expresses its deep disappointment, however, that, since then the Commission has continued to authorise GMOs for import into the Union, despite ongoing objections by Parliament and a majority of Member States voting against;

    8. Urges the Commission, again, to take into account the Union’s obligations under international agreements, such as the Paris Climate Agreement, the UN CBD and the UN SDGs; reiterates its call for draft implementing acts to be accompanied by an explanatory memorandum explaining how they uphold the principle of ‘do no harm’[20];

    9. Instructs its President to forward this resolution to the Council and the Commission, and to the governments and parliaments of the Member States.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Baku Climate Conference – E-002524/2024(ASW)

    Source: European Parliament

    The Conference of the Parties (COP) Presidency traditionally rotates between regional groups of the United Nations (UN). Regional group members hold consultations to determine which country from their region would be nominated to preside the conference.

    Once agreed, the country selected by the regional group sends through its regional group its nomination formally to the UN Framework Convention on Climate Change (UNFCCC) secretariat.

    Following that process, Azerbaijan was nominated by the Eastern European Group (EEG) during the COP28 as the President of COP29. At its final plenary, the 28th Conference of the Parties to the UNFCCC endorsed Azerbaijan as President of COP29[1].

    The EU is not a member of any UN regional group. As such, it did not have a role in the decision of the EEG to nominate Azerbaijan as the President of COP29.

    The primary focus of COP29 held in Baku was to address the challenges of climate change. It was recalled in the statements made in September 2023 on Azerbaijan’s military operation in Nagorno-Karabakh[2] and on the displacement of people from Nagorno-Karabakh[3]. The EU is fully committed to achieving lasting peace and stability in the region through dialogue.

    The EU has been actively engaged in facilitating the normalisation process between Armenia and Azerbaijan, notably under the President of the European Council’s auspices.

    The EU stands ready to lend its continued support, including through the new EU Special Representative for the South Caucasus and the crisis in Georgia and through economic support for peace dividends, in order to establish long-lasting peace to the benefit of all people in the region.

    • [1] https://unfccc.int/documents/637071
    • [2] https://www.eeas.europa.eu/eeas/azerbaijan-statement-high-representative-developments-nagorno-karabakh_en
    • [3] https://www.eeas.europa.eu/delegations/armenia/azerbaijan-statement-spokesperson-displacement-people-nagorno-karabakh_en
    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI USA: $200M Boost Energy Efficiency at SUNY Old Westbury

    Source: US State of New York

    Governor Kathy Hochul today announced a $100.2 million New York State investment for the first major phase of a deep energy retrofit at SUNY Old Westbury. The investment, plus approximately $100 million more for the final phases, will transform the college’s Natural Science Building, which was originally opened in 1985.

    “Once again, people will be looking at New York State as a leader in developing sustainable, green energy solutions that will not only enhance the academic experience for our students and faculty, but also contribute to a healthier environment for all New Yorkers,” Governor Hochul said. “With this state-of-the-art, energy-efficient facility, we are one step closer to achieving net-zero greenhouse gas emissions and zero waste across the SUNY system while also providing new opportunities for green workforce development and resilience in the face of climate change.”

    The project is part of SUNY’s Climate and Sustainability Action Plan to achieve net-zero SUNY-wide greenhouse gas emissions and zero waste. Full details about the plan can be found on the SUNY website.

    The plan not only aims to achieve net-zero SUNY-wide greenhouse gas emissions and zero waste in line with Governor Kathy Hochul’s climate goals, but also addresses increasing academic and research opportunities, expands green workforce development, and defines actions related to campus and building operations and capital project development to design for resiliency.

    SUNY Old Westbury Renovation and Deep Energy Retrofit

    The renovated Natural Sciences Building is expected to be 50% more energy efficient and will boast a geothermal system for heating and cooling, as well as energy efficient glazing on the facility’s windows. It will also feature modernized teaching laboratories, a new campus greenhouse, and collaboration spaces for teaching and co-curricular activities. The final future phase is expected to include a green roof.

    The Natural Sciences Building at SUNY Old Westbury has served as the academic home for the Biological Sciences, Chemistry, Physics, and Public Health programs. Biology is the second highest program by enrollment at Old Westbury.

    The project will be constructed in three phases. The first phase, moving forward this week with a groundbreaking with SUNY Chancellor John B. King Jr. and SUNY Old Westbury President Timothy Sams, focuses on the replacement of outdated laboratory spaces, the relocation of the specialized research equipment and support space, and the creation of surge space. This initial step lays the groundwork for the comprehensive modernization and expansion of the building. The second phase will construct a new addition to the building to house additional space for the departments. The third phase will include the renovation of the balance of interior as well as the exterior rehabilitation of the facility.

    SUNY Chancellor John B. King Jr. said, “Thanks to the substantial state investment secured by Governor Hochul, this project represents a significant transformation for the Natural Sciences Building, which was built over four decades ago. With 40% of state-owned buildings, SUNY has the ability to help achieve Governor Hochul’s ambitious climate goals through exciting projects like this one. Future generations who come to learn on SUNY Old Westbury’s campus and in the Natural Sciences Building will have a brighter, more sustainable future.”

    SUNY Old Westbury President Timothy E. Sams said, “We are proud that this building, once complete, will exceed the goals SUNY has set for us when it comes to energy and carbon reduction. As our campus mission demands of us, we will focus on environmental sustainability throughout the course of this work and in the years ahead as we create a facility that will prepare students for work in hospitals, laboratories, wind and chip manufacturing, public health, and more that are so vital to their own and New York’s success.”

    State Senator Jack Martins said, “I applaud SUNY Old Westbury and Governor Hochul in prioritizing student education at our SUNY Old Westbury campus. This refurbished facility will provide better opportunities for generations of students and have a significant impact as they pursue careers thereafter.”

    Assemblymember Charles Lavine said, “This investment right here in my district will transform existing infrastructure to provide SUNY Old Westbury with the latest technology to help increase sustainability and reduce greenhouse gas emissions. It will also help students, faculty, and researchers meet the demands of modern science education and research. I am so proud of Governor Hochul for her continued commitment to fighting the very real problem of climate change and this institution which is setting the standard for the critical importance of diversity and inclusion in higher education.”

    Assemblymember Alicia Hyndman said, “As a proud advocate for sustainability and education, I’m thrilled to see this investment in SUNY Old Westbury. This isn’t just about upgrading a building—it’s about creating opportunities. By modernizing the Natural Sciences Building with energy-efficient technology, we’re not only taking real steps toward a greener future, but we’re also equipping students with the skills they need to lead in the growing green economy. New York is once again leading the way, proving that when we invest in education and sustainability, we invest in our future.”

    When all phases are completed, the project will transform the Natural Sciences Building into a state-of-the-art facility, providing students, faculty, and researchers with the resources and space needed to meet the demands of modern science education and research.

    About SUNY Old Westbury
    SUNY Old Westbury is a selective public liberal arts college with 4,700 students studying in more than 40 undergraduate degree opportunities in its liberal arts and professional programs and 16 graduate programs in business, education, liberal studies and mental health counseling. On the University’s 604-acre campus, students are challenged to take ownership of their futures through an environment that demands academic excellence, fosters intercultural understanding, and endeavors to stimulate a passion for learning and a commitment to building a more just and sustainable world. For more information on SUNY Old Westbury, visit the university’s website.

    About The State University of New York

    The State University of New York is the largest comprehensive system of higher education in the United States, and more than 95 percent of all New Yorkers live within 30 miles of any one of SUNY’s 64 colleges and universities. Across the system, SUNY has four academic health centers, five hospitals, four medical schools, two dental schools, a law school, the country’s oldest school of maritime, the state’s only college of optometry, and manages one US Department of Energy National Laboratory. In total, SUNY serves about 1.4 million students amongst its entire portfolio of credit- and non-credit-bearing courses and programs, continuing education, and community outreach programs. SUNY oversees nearly a quarter of academic research in New York. Research expenditures system-wide are nearly $1.16 billion in fiscal year 2024, including significant contributions from students and faculty. There are more than three million SUNY alumni worldwide, and one in three New Yorkers with a college degree is a SUNY alum. To learn more about how SUNY creates opportunities, visit their website.

    MIL OSI USA News

  • MIL-OSI Europe: EIB Board approves €2.4 billion of financing for business innovation, energy grids, flood resilience and transport

    Source: European Investment Bank

    • Discussion of EIB Global strategic reorientation and support for European electricity grids
    • Energy-saving for businesses across Europe
    • Financing to expand hydrogen refuelling in Europe and rebuild damaged heating infrastructure in Ukraine

    The European Investment Bank (EIB) today approved €2.4 billion of new financing for business investment, clean energy, transport, telecommunications and flood protection in Europe.

    The EIB Board of Directors also discussed the strategic orientation of EIB Global. Reflecting the changing geopolitical context and even better aligning with EU external policy priorities, the Bank’s investments outside of the EU will continue contribute to a stronger Europe in a more stable, more prosperous and sustainable world.

    The Board examined ways to further increase support for electricity networks in Europe. In 2024, the Bank mobilised over €100 billion of additional investment for energy and financed a record high of €8.5 billion for electricity grids, which mobilised 40% of total EU investment in electricity grids.

    “We are ahead of the investment targets of the RePowerEU programme to bring cheaper and clean energy to European households and businesses. Last year the EIB marked a record in investment in energy grids and inter connectors, to bolster Europe’s competitiveness and security”, said EIB Group President Nadia Calviño.

    Energy networks, flood defences

    The first EIB Board of Directors of the year approved financing totalling €791 million to expand hydrogen production for transport, strengthen electricity distribution, and improve flood protection in Poland.

    This includes funding to boost research into and development of hydrogen and to increase the number of hydrogen refueling stations for cars and trucks.

    In support of Ukraine, the Board paved the way for financing of €100 million to repair damaged municipal heating infrastructure in the country.

    Outside the EU, the EIB agreed to provide financing to upgrade and extend electricity distribution in Panama. The goal is to increase renewable/energy use, bolster grids and expand power distribution to unserved communities in the country.

    Green innovation

    The Board also approved financing totalling €879 million for innovation and investment by businesses to improve energy efficiency and environmental sustainability.

    This includes backing automotive-component research and development at 15 manufacturing sites across Europe and low-carbon glass production in France and Spain.

    The EIB endorsed a new securitisation scheme to support Dutch business investment in climate action and environmental sustainability.

    Better connections

    The Board agreed €768 million in financing for transport and telecom networks in the EU and beyond.

    In Colombia, the Board approved EUR 418 million for construction of and the acquisition of trains for Metro Line 1 in the capital Bogota – a service expected to carry more than 1 million passengers a day when operational.

    The Board also gave the green light for financing of €350 million to expand mobile-phone networks across Italy.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers

    Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: CHIEF OF DEFENCE STAFF INAUGURATES VARIOUS INFRASTRUCTURE AT NAVAL BASE KARWAR

    Source: Government of India (2)

    CHIEF OF DEFENCE STAFF INAUGURATES VARIOUS INFRASTRUCTURE AT NAVAL BASE KARWAR

    These infrastructure developments are part of the ongoing Phase IIA of Project Seabird

    Posted On: 05 FEB 2025 7:09PM by PIB Delhi

    General Anil Chauhan, Chief of Defence Staff & Secretary, DMA inaugurated residential accommodation for Senior Sailors of Indian Navy and Main Distribution Sub Station as part of the Trunk facilities at Naval Base, Karwar on 04 Feb 25 with VAdm Krishna Swaminathan, Vice Chief of the Naval Staff, Shri SG Dastidar, DAS, FA (DS) and other senior officers in attendance.

    The residential accommodation consisting of four towers with 240 dwelling units for Master Chief Petty Officers (MCPOs) and Chief Petty Officers (CPOs) has been constructed by M/S NCC Pvt. Ltd., Hyderabad.

    The Main Distribution Sub Station at the Naval Base comprises four 33/11 KV – 35 MVA transformer capable of providing 65 MVA of stabilised power supply to operational piers, accommodation and utilities through seventy-seven state-of-the-art 33 KV Gas Insulated Switchgears, frequency convertors and voltage stabilizers. The three Captive Power Plants of 3 MVA capacity will provide power backup to the Naval Base. M/s ITD Cementation India Ltd., Mumbai has constructed the Main Distribution Sub Station.

    These infrastructure developments are part of the ongoing Phase IIA of Project Seabird which will support berthing of a large number of ships and submarines at Karwar. The project also includes a dual-use Naval Air Station, a full-fledged Naval Dockyard, Covered Dry Berths and several logistics facilities for ships and aircraft. The ongoing construction of Phase IIA of Project Seabird has created 7,000 direct and 25,000 indirect jobs. The Project conforms to the extant norms of Ministry of Environment, Forest & Climate Change (MoEF&CC) and Indian Green Building Council (IGBC). The Project aligns with the concept of Aatmanirbhar Bharat, sourcing over 90% of material and equipment from Indian vendors.

    _____________________________________________________________

    VM/SPS                                                                                                  30/25

    (Release ID: 2100103) Visitor Counter : 57

    MIL OSI Asia Pacific News

  • MIL-Evening Report: The butterfly effect: this obscure mathematical concept has become an everyday idea, but do we have it all wrong?

    Source: The Conversation (Au and NZ) – By Milad Haghani, Associate Professor & Principal Fellow in Urban Risk & Resilience, The University of Melbourne

    Edward Lorenz’s mathematical weather model showed solutions with a butterfly-like shape. Wikimol

    In 1972, the US meteorologist Edward Lorenz asked a now-famous question:

    Does the flap of a butterfly’s wings in Brazil set off a tornado in Texas?

    Over the next 50 years, the so-called “butterfly effect” captivated the public imagination. It has appeared in movies, books, motivational and inspirational speeches, and even casual conversation.

    The image of the tiny flapping butterfly has come to stand for the outsized impact of small actions, or even the inherent unpredictability of life itself. But what was Lorenz – who is now remembered as the founder of the branch of mathematics called chaos theory – really getting at?

    A simulation goes wrong

    Our story begins in the 1960s, when Lorenz was trying to use early computers to predict the weather. He had built a basic weather simulation that used a simplified model, designed to calculate future weather patterns.

    One day, while re-running a simulation, Lorenz decided to save time by restarting the calculations from partway through. He manually inputted the numbers from halfway through a previous printout.

    But instead of inputting, let’s say, 0.506127, he entered 0.506 as the starting point of the calculations. He thought the small difference would be insignificant.

    He was wrong. As he later told the story:

    I started the computer again and went out for a cup of coffee. When I returned about an hour later, after the computer had generated about two months of data, I found that the new solution did not agree with the original one. […] I realized that if the real atmosphere behaved in the same manner as the model, long-range weather prediction would be impossible, since most real weather elements were certainly not measured accurately to three decimal places.

    There was no randomness in Lorenz’s equations. The different outcome was caused by the tiny change in the input numbers.

    Lorenz realised his weather model – and by extension, the real atmosphere – was extremely sensitive to initial conditions. Even the smallest difference at the start – even something as small as the flap of a butterfly’s wings – could amplify over time and make accurate long-term predictions impossible.

    The ‘Lorenz Attractor’ found in models of a chaotic weather system has a characteristic butterfly shape.
    Milad Haghani, CC BY

    Lorenz initially used “the flap of a seagull’s wings” to describe his findings, but switched to “butterfly” after noticing a remarkable feature of the solutions to his equations.

    In his weather model, when he plotted the solutions, they formed a swirling, three-dimensional shape that never repeated itself. This shape — called the Lorenz attractor — looked strikingly like a butterfly with two looping wings.

    Welcome to chaos

    Lorenz’s efforts to understand weather led him to develop chaos theory, which deals with systems that follow fixed rules but behave in ways that seem unpredictable.

    These systems are deterministic, which means the outcome is entirely governed by initial conditions. If you know the starting point and the rules of the system, you should be able to predict the future outcome.

    There is no randomness involved. For example, a pendulum swinging back and forth is deterministic — it operates based on the laws of physics.

    Systems governed by the laws of nature, where human actions don’t play a central role, are often deterministic. In contrast, systems involving humans, such as financial markets, are not typically considered deterministic due to the unpredictable nature of human behaviour.

    A chaotic system is a system that is deterministic but nevertheless behaves unpredictably. The unpredictability happens because chaotic systems are extremely sensitive to initial conditions. Even the tiniest differences at the start can grow over time and lead to wildly different outcomes.

    Chaos is not the same as randomness. In a random system, outcomes have no definitive underlying order. In a chaotic system, however, there is order, but it’s so complex it appears disordered.

    A misunderstood meme

    Like many scientific ideas in popular culture, the butterfly effect has often been misunderstood and oversimplified.

    One common misconception is that the butterfly effect implies every small action leads to massive consequences. In reality, not all systems are chaotic, and for systems that aren’t, small changes usually result in small effects.

    Another is that the butterfly effect carries a sense of inevitability, as though every butterfly in the Amazon is triggering tornadoes in Texas with each flap of its wings.

    This is not at all correct. It’s simply a metaphor pointing out that small changes in chaotic systems can amplify over time, making long-term outcomes impossible to predict with precision.

    Taming butterflies

    Systems that are very sensitive to initial conditions are very hard to predict. Weather systems are still tricky, for example.

    Forecasts have improved a lot since Lorenz’s early efforts, but they are still only reliable for a week or so. After that, small errors or imprecisions in the starting data grow larger and larger, eventually making the forecast inaccurate.

    To deal with the butterfly effect, meteorologists use a method called ensemble forecasting. They run many simulations, each starting with slightly different initial conditions.

    By comparing the results, they can estimate the range of possible outcomes and their likelihoods. For example, if most simulations predict rain but a few predict sunshine, forecasters can report a high probability of rain.

    However, even this approach works only up to a point. As time goes on, the predictions from the models diverge rapidly. Eventually, the differences between the simulations become so large that even their average no longer provides useful information about what will happen on a given day at a given location.

    A butterfly effect for the butterfly effect?

    The journey of the butterfly effect from a rigorous scientific concept to a widely popular metaphor highlights how ideas can evolve as they move beyond their academic roots.

    While this has helped bring attention to a complex scientific concept, it has also led to oversimplifications and misconceptions about what it really means.

    Attaching a metaphor to a scientific phenomenon and releasing it into popular culture can lead to its gradual distortion.

    Any tiny inaccuracies or imprecision in the initial description can be amplified over time, until the final outcome is a long way from reality. Sound familiar?

    Milad Haghani 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. The butterfly effect: this obscure mathematical concept has become an everyday idea, but do we have it all wrong? – https://theconversation.com/the-butterfly-effect-this-obscure-mathematical-concept-has-become-an-everyday-idea-but-do-we-have-it-all-wrong-246577

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Global: Trump’s reversal of climate policies risks undermining U.S. manufacturing — and could cost people jobs

    Source: The Conversation – Canada – By Thomas Stuart, Lecturer in Communications, Gustavson School of Business, University of Victoria

    United States President Donald Trump’s early executive actions have set American manufacturing on a collision course with his administration’s fossil-fuel-driven agenda. It’s clear that climate change policies run counter to his vision of American primacy.

    Trump wasted no time reversing the green initiatives of his predecessor, former president Joe Biden. He withdrew the U.S. from the Paris Climate Agreement for a second time, rolled back environmental regulations and froze green energy funding.




    Read more:
    The impact of Donald Trump’s anti-climate measures on our heating planet


    However, these reversals have exposed complications in Trump’s economic platform. For all his promises to revive American industry and reduce reliance on foreign production, Trump’s opposition to clean energy threatens green technology investments and other incentives that drive U.S. manufacturing development.

    Trump’s Strategic National Manufacturing Initiative promised to “stop outsourcing” and turn the U.S. into a “manufacturing superpower.” Yet his plans to cancel the electric vehicle mandate and reduce regulations promoting clean energy undermine the manufacturing sector’s shift toward green technology.

    In the long run, Trump’s own actions may undermine his vision of an American manufacturing renaissance by cutting crucial investments, putting the U.S. at odds with a global economy increasingly focused on clean technologies.

    The green manufacturing boom

    Republican congressman John James recently applauded Trump’s reversal of green policies during a congressional hearing. Yet, in the same breath, James called for the administration to continue “onshoring the future of automotive jobs and manufacturing,” a policy he linked to Biden’s Inflation Reduction Act (IRA).

    Other Republican representatives from Michigan, Georgia and North Carolina increasingly find themselves walking along the same rhetorical tight-rope.

    While Biden’s IRA has been widely criticized by the Trump administration, the act has brought Republican districts significant green investments and manufacturing jobs.

    As James acknowledged:

    “While the bulk of the IRA is damaging policy, we must not neglect the sector-wide energy tax provisions that manufacturers and job creators rely on in my district and around the country.”

    The green manufacturing boom is not an abstract concept, but a tangible economic engine, particularly in districts with established fossil fuel industries like Chatham County, N.C. Here, manufacturer Wolfspeed’s new US$5 billion dollar semiconductor plant sits in the heart of traditional coal country.

    Since 2022, the private sector has invested US$133 billion in clean energy and electric vehicle (EV) technology. Manufacturing investments alone have jumped by three times over the previous two years, totalling US$89 billion.

    The impact of the IRA on ‘red states’

    Biden-era policy has largely driven the America’s green energy economic development. The IRA provided a staggering US$312 billion in planned investments in EV and battery manufacturing.

    Eighty-five per cent of this funding flows into Republican-voting districts — areas that have historically voted against climate-focused legislation like the IRA. Yet the rewards of these green tech policies have been a boon for local economies.

    Georgia, for instance, has become a model for the American green energy transformation. In the first two years of the IRA, about US$15 billion dollars flowed into the state. Since then, Georgia has added a projected 43,000 new green jobs.

    Meanwhile, North Carolina’s Randolph County has seen the largest investment in green technology in U.S. history. Under the previous administration, it received about US$14 billion in funding, allowing Toyota to build a manufacturing megasite.

    By 2030, the site is expected to create 5,000 jobs in the area, with wages averaging 80 per cent more than the county median salary. Once fully operational, the site will manufacture enough batteries annually to power and maintain up to 500,000 EVs.

    What comes next?

    As Trump continues to roll back environmental protections and withdraw from climate agreements, whether he can still deliver the manufacturing revival he promised remains to be seen.

    In one respect, his policies may lead to a consolidation in the green technology sector. Despite his administration’s retreat from broader green energy policies, Trump says he will continue securing the U.S. supply of critical minerals for EV batteries.

    This could reflect the influence of Tesla CEO Elon Musk, who is serving under Trump as a “special government employee.” Tesla, which relies on these critical minerals for its EV production, would benefit from a stable supply.

    Musk resents regulatory interventions, particularly those that encourage competition. On a call with investors, Musk said Tesla might feel a slight impact from lost subsidies. However, he suggested the real damage would be to competitors who are scrambling to catch up in an industry where raw materials are king. Musk predicted that “long term, it probably actually helps Tesla.”

    In another respect, Trump’s policy reversal could also weaken Republican unity. Republican politicians like Georgia’s Buddy Carter, Tennessee’s Chuck Fleischmann and Georgia Gov. Brian Kemp have highlighted the short-sighted nature of Trump’s economic plan.

    Trump’s decision to turn his back on climate change policy is more than a blow to environmentalists; it’s a direct challenge to his own economic agenda. He risks not just the environment, but also the green investments essential to American industry’s competitive revival.

    Thomas Stuart 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. Trump’s reversal of climate policies risks undermining U.S. manufacturing — and could cost people jobs – https://theconversation.com/trumps-reversal-of-climate-policies-risks-undermining-u-s-manufacturing-and-could-cost-people-jobs-248399

    MIL OSI – Global Reports

  • MIL-OSI USA: New ‘Tree Tracker’ Webpage and Interactive Tool Launches

    Source: US State of New York

    Governor Kathy Hochul today announced the launch of a new webpage and interactive tracking tool to help document progress toward New York State’s goal to plant 25 million trees by 2033. Hosted by the New York State Department of Environmental Conservation and developed in cooperation with the Office of Information Technology Services, the webpage and Tree Tracker allow State agencies, organizations, private entities, and individuals to report the location and number of trees planted into the tracking tool, measuring progress in the statewide effort.

    “New York is taking decisive action to protect our environment and strengthen communities’ ability to withstand severe weather,” Governor Hochul said. “Our progress toward the 25 Million Tree goal is a testament to the power of community-driven action, and the new Tree Tracker will make it easier for New Yorkers to track our progress, share updates and contribute to a healthier environment for the future.”

    Trees planted in 2024 and on count toward the statewide total. Every entry records the number and location of trees planted. Entries can also include additional information such as planting date(s), tree species, and tree size. The webpage displays an interactive map of planting projects across New York State, and tallies trees planted by region, county, and municipality for visitors to track planting across the state as the initiative progresses toward the 25 million tree goal.

    In addition to linking to the Tree Tracker, the 25 Million Trees webpage provides information on how to plant trees, how to care for them to aid their survival, and where to go for more technical assistance.

    Department of Environmental Conservation Interim Commissioner Sean Mahar said, “Working with the New Yorkers we serve, the 25 Million Tree Goal is helping to address our sustained efforts to protect communities and natural resources across the state. Every tree planted is a step toward a healthier, greener New York. The Tree Tracker will empower New Yorkers to share their stories with us as our partners in this historic effort, which will have a lasting impact on the environment.”

    The Nature Conservancy’s New York Executive Director Bill Ulfelder said, “The Nature Conservancy is pleased to see New York State unveil new tools to document progress towards New York’s goal to plant 25 million trees by 2033. Achieving this goal would help New York meet its carbon reduction goals while protecting clean drinking water, restoring wildlife habitat, and reducing the risks of extreme heatwaves, which can be fatal in neighborhoods without trees.”

    Governor Hochul launched the 25 Million Trees Initiative in her 2024 State of the State address, allocating $32 million in Clean Water, Clean Air and Green Jobs Environmental Bond Act Funds to modernize the State’s tree nursery and harness technology to track forestation efforts in New York and $15 million in the Executive Budget to support resilient reforestation projects. The Initiative is invigorating statewide tree planting efforts, sending an unmistakable market signal to private nurseries, and growing the state’s vital forest products industry. The Initiative advances the climate equity and reforestation goals outlined in New York’s Climate Leadership and Community Protection Act and contributes to New York’s broader efforts to reduce the pollution contributing to climate change.

    The 25 Million Trees Initiative also highlights funding opportunities for afforestation and reforestation projects in New York State. Private landowners had access to $4.5 million for projects expanding and restoring forests through the Establishing Large Forests (ELF) Grant Program, and $15 million is currently available to municipalities, not-for-profits, and State agencies to create forested natural areas servicing urban communities through the Community Reforestation (CoRe) Grant Program until March, 12, 2025.

    New York’s 25 Million Trees Initiative also contributes in part to the Great Lakes St. Lawrence Governors and Premiers’ call for planting 250 million trees around the Great Lakes region by 2033.

    MIL OSI USA News

  • MIL-OSI Global: Why personal climate action matters – according to experts

    Source: The Conversation – UK – By Jack Marley, Environment + Energy Editor, UK edition

    EL_Images/Shutterstock

    Do you feel powerless?

    You probably aren’t responsible for the investment decisions of an energy company, nor do you have a hand in government policy. But still, you are reading about climate change – a problem that can easily seem intractable to most people.

    The Veganuary campaign reported record participation this year: 25.8 million people worldwide tried a lighter lifestyle without meat and dairy in January, knowing that enormous emission sources sit beyond their immediate control. If such resolve to fix our planet exists, how can people exercise it?


    This roundup of The Conversation’s climate coverage comes from our award-winning weekly climate action newsletter. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed.


    You might be used to thinking of climate change in terms of your carbon footprint. That’s no accident, says science communicator Sam Illingworth (Edinburgh Napier). A public relations firm, hired by oil giant BP, invented the concept in 2004 as part of a deliberate effort to shift attention from corporate culpability, he says.

    “In my research into climate communication, I see how stories of guilt resonate with communities already facing misplaced blame,” Illingworth adds.

    You’re not alone

    “Net zero heroes” are set up to fail, Illingworth says. But realising this only makes collective action more important, and shows the futility of trying to bear the weight of the problem on your own.




    Read more:
    You don’t have to be a net zero hero – how focus on personal climate action can distract from systemic problems


    Your choices do not exist in a vacuum. Earth is an interconnected community of living and non-living things says ethicist Patrick Effiong Ben of the University of Manchester. African philosophers like Jonathan Chimakonam and Aïda Terblanché-Greeff have a helpful concept for thinking through the weightiness of your decisions: complementarity.

    Life on Earth is connected in often subtle and unpredictable ways.
    Lois GoBe/Shutterstock

    “Complementarity holds that the relationships that unite individual things can extend to prove the value of every contribution, no matter its size,” Ben says.




    Read more:
    Think your efforts to help the climate don’t matter? African philosophers disagree


    You can test this notion by choosing to eat a plant-based diet or forgo flying and observing your influence on others. If you’re sceptical, just think how many of your habits or turns of phrase are borrowed from loved ones. Steve Westlake, a behavioural psychologist at Cardiff University, says that your pro-environment choices can ultimately alter what other people consider “normal”.

    “In a survey I conducted, half of the respondents who knew someone who has given up flying because of climate change said they fly less because of this example. That alone seemed pretty impressive to me,” he says.




    Read more:
    Climate change: yes, your individual action does make a difference


    “They explained that the bold and unusual position to give up flying had: conveyed the seriousness of climate change and flying’s contribution to it; crystallised the link between values and actions; and even reduced feelings of isolation that flying less was a valid and sensible response to climate change.”

    What’s stopping us?

    Often, is is not apathy that holds us back, but a seeming lack of options. In the UK, where I live, a train is by far the better travel choice emissions-wise but it is usually much more expensive than a flight that covers the same distance.

    Environmental psychologists Christina Demski (University of Bath) and Stuart Capstick (Cardiff University) criticise the laissez-faire approach of successive governments that have “[gone] with the grain of consumer choice” while failing to recognise that many people would gladly choose the green option if they could afford or access it.




    Read more:
    To address climate change, lifestyles must change – but the government’s reluctance to help is holding us back


    This desire to do something meaningful is continually frustrated, they say, but it will not vanish as the crisis worsens. Everyone alive and yet to live needs a liveable climate. Securing it is within our technical and material means.

    The human species has no home but this one.
    Canities/Shutterstock

    Just listen to this from sustainability researcher Joel Millward-Hopkins (Université de Lausanne, previously University of Leeds):

    “Fortunately, in new research we found that using 60% less energy than today, decent living standards could be provided to a global population of 10 billion by 2050. That’s 75% less energy than the world is currently forecast to consume by 2050 on our present trajectory – or as much energy as the world used in the 1960s.”




    Read more:
    How 10 billion people could live well by 2050 – using as much energy as we did 60 years ago


    Instead of seeing your new vegan diet as a personal choice, think of it as a political act taken in solidarity with people and other species bearing the brunt of climate change say political philosophers Alasdair Cochrane (University of Sheffield) and Mara-Daria Cojocaru (Munich School of Philosophy).




    Read more:
    Veganism: why we should see it as a political movement rather than a dietary choice


    And remember that it isn’t all sacrifice. The joy that is possible with more expensive and more energy-hungry lifestyles is fleeting says Capstick, but contentment, he argues, is low-carbon.




    Read more:
    Climate change: greener lifestyles linked to greater happiness – in both rich and poor countries


    ref. Why personal climate action matters – according to experts – https://theconversation.com/why-personal-climate-action-matters-according-to-experts-248960

    MIL OSI – Global Reports