Category: Climate Change

  • MIL-OSI United Nations: In hard-hitting human rights address, Guterres calls for urgent action on Gaza, authoritarianism and climate justice

    Source: United Nations 2

    Recalling his own experience living under dictatorship in Portugal, Mr. Guterres told participants at the Global Assembly of the international rights charity Amnesty International on Friday that the fight for human rights is “more important than ever.”

    He called on states to uphold international law and defend human rights “consistently and universally, even – or especially – when inconvenient,” urging collective action to restore global trust, dignity and justice.

    ‘A moral crisis’

    Mr. Guterres painted a stark picture of a world in turmoil, citing multiple ongoing crises – foremost among them, the war in Gaza.

    While reiterating his condemnation of the 7 October 2023 terror attacks by Hamas and other Palestinian armed groups in Israel, the Secretary-General said that “nothing can justify the explosion of death and destruction since.”

    The scale and scope is beyond anything we have seen in recent times,” he said.

    I cannot explain the level of indifference and inaction we see by too many in the international community. The lack of compassion. The lack of truth. The lack of humanity.

    Key takeaways from the address

    • Gaza – “A moral crisis that challenges the global conscience”
    • Ukraine – Call for a “just and lasting peace” based on the UN Charter, international law and resolutions
    • Authoritarianism – A “global contagion”, with political repression, scapegoating of minorities and shrinking civic space
    • Climate Justice – Bold action needed to cut emissions; transition to clean energy must uphold human rights
    • Digital Threats – Concern over algorithm-driven disinformation, hate speech and manipulation on social media
    • Call to Action – “Human rights are the solution, foundation of peace and engine of progress”

    UN staff ‘neither dead nor alive’

    He described UN staff in Gaza as working in “unimaginable conditions,” many of them so depleted they “say they feel neither dead nor alive.”

    Since late May, he noted, more than 1,000 Palestinians have been killed trying to access food – not in combat, but “in desperation – while the entire population starves.”

    This is not just a humanitarian crisis. It is a moral crisis that challenges the global conscience.

    Ready to scale up aid

    Mr. Guterres said the UN stands ready to dramatically scale up humanitarian operations “as we successfully did during the previous pause in fighting,” but called for an “immediate and permanent ceasefire,” the unconditional release of all hostages and full humanitarian access.

    “At the same time, we need urgent, concrete and irreversible steps towards a two-State solution,” he stressed.

    He also spoke about other conflicts, including Sudan as well as Russia’s invasion of Ukraine, where he called for a “just and lasting peace” based on the UN Charter, international law and relevant UN resolutions.

    UN Photo/Eskinder Debebe

    Secretary-General Guterres (left) addresses Amnesty International’s Global Assembly via video link.

    Rising authoritarianism

    The Secretary-General warned that authoritarian tactics are on the rise globally.

    We are witnessing a surge in repressive tactics aiming at corroding respect for human rights,” he said. “And these are contaminating some democracies.

    Political opposition movements are being crushed, accountability mechanisms dismantled, journalists and activists silenced, civic space strangled, and minorities scapegoated.

    Rights of women and girls in particular are being rolled back – most starkly, he said, in Afghanistan.

    “This is not a series of isolated events. It is a global contagion.”

    Weaponization of technology

    He decried the growing weaponization of digital platforms, saying algorithms are “boosting the worst of humanity – rewarding falsehoods, fuelling racism and misogyny, and deepening division.”

    He called on governments to uphold the Global Digital Compact adopted by countries at the UN General Assembly last September, and to take stronger action to combat online hate and disinformation.

    © ICJ-CIJ/Frank van Beek

    Activists outside the International Court of Justice (ICJ) in The Hague as the Court delivers its advisory opinion on the obligations of States in respect of climate change.

    Climate justice is human rights

    Turning to climate, Mr. Guterres described the environmental emergency as a “human rights catastrophe,” with the poorest and most vulnerable communities suffering most.

    He welcomed the International Court of Justice (ICJ)’s advisory opinion this week, affirming that climate change is a human rights issue and that states have obligations under international law to protect the global climate system.

    But he cautioned against a transition to clean energy that sacrifices human rights.

    “We cannot accept a clean energy future built on dirty practices…We cannot accept enormous violations of human rights – many of them against children – in the name of climate progress.”

    He called for urgent emissions cuts, a just transition away from fossil fuels and real financing for developing countries to adapt, build resilience, and recover from loss and damage.

    A legacy of activism

    The Secretary-General concluded by praising Amnesty International’s decades of activism, calling its work “indispensable” to the global human rights movement.

    When you stand for human rights, you stand with what is right,” he told delegates.

    “Your courage continues to change lives. Your persistence is shifting the course of history. Let’s keep going. Let’s meet this moment with the urgency it demands. And let’s never, ever give up.

    Founded in 1961, Amnesty International is a global human rights movement that campaigns to end abuses and promote justice. The organization has long worked in collaboration with the United Nations, participating actively in the development of international human rights law and mechanisms.

    Today’s speech by Mr. Guterres is first-ever address by a UN Secretary-General to Amnesty International’s Global Assembly – the charity’s highest decision-making body. The UN chief spoke via a video link to the event in Prague.

    MIL OSI United Nations News

  • MIL-OSI USA: ICYMI: Congressman Sorensen Demands Accountability in Aftermath of Texas Floods

    Source: United States House of Representatives – Congressman Eric Sorensen (IL-17)

    Last week, Congressman Eric Sorensen (IL-17) continued to lead Democrats in sounding the alarm over cuts in funding to the National Weather Service in the wake of the deadly Texas floods. On Friday, he led a letter with Representatives Marcy Kaptur (OH-09) and Lloyd Doggett (TX-37) demanding answers from President Trump on why hundreds of Americans were unprepared to evacuate from the flash floods. 

    MSNBC: All in with Chris Hayes: Congressman Sorensen calls for a NTSB for weather in aftermath of deadly flash flooding in Texas 

    •  Congressman Sorensen: “We need a NTSB just for weather. We need to understand how the meteorology was disseminated to the people. Were they able to react to it? Where they able to get to a higher ground? We have to understand all of the facets here so that we make better decisions in the future. Because we know these storms have had huge floods on the Guadalupe River in the 1970s, in 2002, and now in 2025.” 

    NBC News NOW: Meet the Press NOW: Need to ‘invest’ in NWS so Texas disaster is ‘a thing of the past’: Congressman & fmr. meteorologist 

    • Congressman Sorensen: “We have to invest in the National Weather Service. We have to get President Trump to understand that investing in the National Weather Service – making sure we have more accurate weather models – could maybe make these types of disasters a thing of the past.” 

    • Congressman Sorensen: “Also going forward, we need to make sure there is a commitment from the Administration that the National Weather Service is just that – it is a service. We take it for granted that our phones are going to off in the middle of the night when the tornado warning or the flash flood warning is issued. But we need to know when that happens that there is going to be a way for us to escape.” 

    Center Square: Illinois congressman pushes for NWS funding as Trump’s budget faces scrutiny 

    • Illinois U.S. Rep. Eric Sorensen, D-Rockford, a former meteorologist, said he and others are pushing bipartisan legislation to strengthen NWS operations and staffing, warning that shortfalls may be putting lives at risk. 

    • Sorensen stressed the need for stronger communication tools, warning systems and a long-term investment in the agency’s capabilities. 

    NBC News: Bipartisan support picks up for a natural disaster review board 

    • In an email to NBC News, Congress’ only meteorologist, Rep. Eric Sorensen, D-Ill., said he was working with colleagues to create an NTSB-styled program to investigate deadly storms. 

    • “It would be amazing if meteorologists could have access to investigative reports that help us to figure out what — if anything — went wrong and what we can do in the future to be better,” Sorensen said, adding that “clearly the tragic floods in Texas would benefit from such a report.” 

    The Hill: House Democrats call for ‘urgent review’ of deadly Texas flooding 

    • Three House Democrats sent a letter to President Trump and two officials involved in weather infrastructure Friday expressing concerns about the government’s preparedness for future flood disasters and extreme weather events. 

    • “This tragedy echoes a troubling national pattern of accelerating flash flood disasters that have claimed lives: 46 lives in the greater New York City area in September 2021, 345 lives in Kentucky in July 2022, 20 lives in Tennessee in August 2021, and 250 lives across the Southeast in September 2024,” Democratic Reps. Lloyd Doggett (Texas), Marcy Kaptur (Ohio) and Eric Sorensen (Ill.) wrote. 

    • The lawmakers expressed concern about whether the Department of Government Efficiency-driven staff reductions at the National Weather Service delayed warnings about the Texas floods, which have claimed at least 120 lives. The New York Times reported the vacancies may have complicated efforts to coordinate with local officials and that some of the unfilled positions predate the Trump administration. 

    As the only meteorologist in Congress, Congressman Sorensen has been a fierce advocate for protecting and strengthening NOAA and the NWS from cuts. Starting last year, he has been warning about the impact of Project 2025’s plans to dismantle and privatize NOAA and the NWS. As the Department of Government Efficiency began making cuts to the agencies, Congressman Sorensen has been speaking out, introducing legislation, and calling on the Administration to bring a stop to the disastrous cuts. He recently introduced the Weather Workforce Improvement Act to help the NWS fully staff critical positions at their offices and the Rural Weather Monitoring Systems Act to help strengthen weather forecasting in rural America. 
     

    MIL OSI USA News

  • MIL-OSI United Nations: Activities of Secretary-General in Brazil, 5-9 July

    Source: United Nations General Assembly and Security Council

    The United Nations Secretary-General, António Guterres, arrived in Rio de Janeiro, Brazil, on Saturday evening, 5 July, to attend the Seventeenth Summit of the BRICS [Brazil, Russian Federation, India and China] countries.

    On Sunday afternoon, 6 July, after being welcomed by Luiz Inacio Lula da Silva, the President of Brazil, the Secretary-General addressed an outreach session on “Strengthening multilateralism, economic-financial affairs and artificial intelligence”.  He highlighted that artificial intelligence (AI) is reshaping economies and societies, and that the fundamental test is how wisely we guide this transformation.

    The Secretary-General also emphasized that AI cannot be a club of the few, but must benefit all, and in particular developing countries, which must have a real voice in the governance of artificial intelligence.

    In the evening, the Secretary-General attended an official cocktail on the occasion of the BRICS Leader’s Summit, hosted by the President of Brazil, Luiz Inacio Lula da Silva and Janja Lula da Silva.

    On Monday morning, 7 July, soon after his arrival at the 17th Summit of the BRICS venue, the Secretary-General took part in the family photo. He then addressed an outreach session on “Environment, COP30 [Thirtieth Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change] and global health”, warning that our environment is being attacked on all fronts.  Mr. Guterres pointed out that across the world, lives and livelihoods are being ripped apart, and sustainable development gains left in tatters as disasters accelerate.

    The Secretary-General noted that the most vulnerable and the poorer pay the highest price and stressed that we need to tackle the point where climate and health meet.  He also emphasized that we need Governments to build on the progress of last year’s biodiversity COP, particularly reaching an ambitious agreement on finance, adding that we need to make COP30 a success.

    In the afternoon, in a bilateral meeting on the margins of the BRICS Summit, the Secretary-General and the Minister for Foreign Affairs of Iran, Seyed Abbas Araghchi, discussed the situation in the Middle East.  The Secretary-General noted the importance of the consolidation of the ceasefire to lay the groundwork for the resumption of negotiations.

    Immediately after, the Secretary-General held a bilateral meeting with the Minister for Foreign Affairs of the Republic of Türkiye, Hakan Fidan.  The Secretary-General and the Minister discussed the strong partnership between the United Nations and Türkiye.  They also exchanged views on the war in Ukraine, the situation in the Middle East and the next round of meetings on Cyprus.

    Also in the afternoon, the Secretary-General met Sergio Diaz-Granados, the Executive President of the Development Bank of Latin America and the Caribbean.

    On Tuesday morning, 8 July, the Secretary-General met with the Premier of the State Council of China, Li Qiang.  They discussed cooperation between the United Nations and China, sustainable development, climate change and financing.

    The Secretary-General commended China for its commitment to multilateralism and thanked China for its valuable contribution to the United Nations and its activities.

    The Secretary-General departed Rio de Janeiro in the afternoon of Tuesday, 8 July.

    MIL OSI United Nations News

  • MIL-OSI Russia: UN chief welcomes China, EU commitment to strengthen cooperation on climate change

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    UNITED NATIONS, July 25 (Xinhua) — UN Secretary-General Antonio Guterres welcomes the commitment of China and the European Union (EU) to strengthen cooperation on climate change and ensure a global just transition, Deputy Spokesman for the UN Secretary-General Farhan Haq said on Thursday.

    “The Secretary-General believes that it is critical for China and the European Union, as the world’s two largest economies, to continue working together to ensure that the UN Climate Change Conference (COP30) in Brazil becomes a major turning point in global efforts to tackle the climate crisis,” Hack said in a statement.

    “The Secretary-General reiterates his call for all G20 countries to submit NDCs [nationally determined contributions to combat climate change by 2035],” he said.

    On Thursday, leaders of China and the EU issued a joint statement on stepping up efforts to combat climate change following the 25th China-EU summit in Beijing. At the meeting, the two sides acknowledged that strengthening China-EU cooperation on climate change will benefit the well-being of both peoples and is of great and special significance to upholding multilateralism and advancing global climate governance. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News

  • MIL-OSI NGOs: Six months into Congo’s war, cholera is killing more than four people every day

    Source: Oxfam –

    • Aid cuts and humanitarian deadlock are fuelling a full-blown public health disaster. 

    • In Sake and Minova, 500 people are sharing a single water tap.   

    Six months since the renewed war in the Democratic Republic of Congo (DRC), a full-blown public health emergency is accelerating, Oxfam warned today.  

    Since January, more than 35,000 suspected cholera cases and at least 852 related deaths have been reported – an average of more than four deaths every day and a 62 percent increase compared to 2024.  

    After M23 fighters seized Goma in January civilians were ordered to return to their villages within 72 hours. More than 3.16 million people have since returned back only to find their homes reduced to rubble, and aid system on the verge of collapse. 

    Water networks, including storage facilities have been obliterated, leaving families to drink from contaminated streams and stagnant lakes. Basic health services have crumbled, with hospitals out of medicine and sanitation systems in ruins. In some of the hardest-hit areas, like Sake and Minova, 500 people are now sharing a single water tap.  

    Dr. Manenji Mangundu, Oxfam’s Director in DRC said: 

    “This is a full-blown public health emergency. Families are returning to ruins—no shelters, no toilets, no clean water. In many areas, latrines have been flooded or stripped for firewood, forcing people to defecate in the open and contaminate the only water available. The air reeks of sewage. Hospitals are out of medicine, and we can’t reach cut-off communities with even the most basic aid.” 

    In South Kivu’s Uvira region, cholera is surging with 100 new cases being reported each day. Floodwaters from Lake Tanganyika routinely inundate homes and latrines overflow into the lake, even as families are forced to drink lake water.  

    The forced closure and destruction of more than 20 displacement sites in Goma alone has left 700,000 people without safe shelter, clean water or basic sanitation In Rusayo, Lushagal, and Bhimba —where Oxfam had been supporting over 100,000 people—entire sites have been razed or abandoned, including more than $700,000 worth of water and sanitation infrastructure, such as pipelines, latrines, and tanks. 

    “This is a full-blown public health emergency. Families are returning to ruins—no shelters, no toilets, no clean water. In many areas, latrines have been flooded or stripped for firewood, forcing people to defecate in the open and contaminate the only water available. The air reeks of sewage. Hospitals are out of medicine, and we can’t reach cut-off communities with even the most basic aid.” 

    Dr. Manenji Mangundu, Oxfam’s Director in DRC

    Oxfam

    Despite a US-brokered ceasefire, insecurity, roadblocks, and ongoing clashes have severed vital supply routes, cutting off communities from lifesaving food, clean water, and medicine. Aid agencies like Oxfam are now being forced to detour through Rwanda, severely hampering relief efforts. Cross-border access through Burundi has been entirely blocked, while illegal taxes and bureaucratic obstruction are further choking humanitarian deliveries.  

    Deep aid cuts since the start of 2025 have pushed the humanitarian response to the brink of failure. Only a fraction of the $2.54 billion needed this year as humanitarian aid in DRC has been received to date—forcing agencies like Oxfam to scale back or suspend life-saving operations. Even a UN investigation into possible war crimes has been frozen for lack of funding. 

    “People are suffering because we cannot reach them,” said Balume Loutre, Oxfam’s Public Health Engineering Team Leader in Eastern DRC. “They’re drinking from contaminated water sources, and we lack the resources to deliver even basic aid. In some villages, 15,000 families need help, but we can only support 500. We’re forced to make impossible choices, leaving thousands behind.”  

    The situation is particularly alarming for women and girls. Since the cuts to USAID funding, more than 8,200 people living with HIV have lost access to antiretroviral treatment. Emergency post-rape care kits are vanishing, even as a child is reported raped every half an hour in eastern DRC, according to UNICEF. 

    Despite the collapse of the aid system, Oxfam and its partners continue to deliver lifesaving assistance – constructing water systems, building latrines and distributing soap and hygiene kits, food and seed. But urgent funding is needed to reach 400,000 people in high-risk cholera zones.  

    “We need an immediate injection of funds, and all warring parties to commit to a permanent ceasefire and allow aid to flow freely. After six months of chaos, people need dignity and respite from relentless violence. The world cannot look away,” said Mangundu. 

    MIL OSI NGO

  • MIL-OSI United Kingdom: United Kingdom helps Guatemala to combat plastic pollution

    Source: United Kingdom – Government Statements

    World news story

    United Kingdom helps Guatemala to combat plastic pollution

    Deputy Head of Mission (DHM) Paul Huggins participated in the launch of Guatemala’s National Plastics Action Partnership (NPAP).

    During the event, he offered closing remarks highlighting the United Kingdom’s commitment to the Global Plastics Action Partnership (GPAP), of which Guatemala has been a member since January 2025, and underscored the importance of international collaborations in addressing global environmental challenges. 

    DHM Huggins praised Guatemala’s leadership in creating inclusive, evidence-based policies and welcomed its recent membership in the UK-founded High Ambition Coalition to End Plastic Pollution (HAC). He also reaffirmed the United Kingdom’s commitment to concluding negotiations for a legally binding global treaty on plastics by August of this year. 

    The event was attended by the Minister of Environment, Patricia Orantes; the Vice Minister for Climate Change, Edwin Castellanos, and representatives of partner organizations and implementers of the NPAP in Guatemala.

    The UK, through the Blue Planet Fund and in collaboration with other partners has contributed £24 million to the GPAP program since 2018, supporting initiatives that promote the circular economy and improve the conditions of informal waste workers.

    Updates to this page

    Published 25 July 2025

    MIL OSI United Kingdom

  • MIL-OSI Banking: Phillips 66 Reports Second-Quarter Results

    Source: Phillips

    Reported second-quarter earnings of $877 million or $2.15 per share; adjusted earnings of $973 million or $2.38 per share; including $239 million of pre-tax accelerated depreciation on Los Angeles Refinery
    Operated at 98% capacity utilization in Refining with 86% clean product yield
    Completed Midstream acquisition of EPIC NGL, now renamed Coastal Bend
    Announced sale of 65% interest in our Germany and Austria retail marketing business
    Generated $845 million of net operating cash flow, $1.9 billion excluding working capital
    Returned $906 million to shareholders through dividends and share repurchases

    HOUSTON–(BUSINESS WIRE)– Phillips 66 (NYSE: PSX) announced second-quarter earnings.
    “Phillips 66 delivered strong financial and operating results across our integrated value chain, reflecting the continued execution of our strategy. During the quarter, Refining ran at the highest utilization since 2018, achieved its lowest cost per barrel since 2021, strong market capture and record year-to-date clean product yield. Our results were made possible through disciplined execution and investment,” said Mark Lashier, chairman and CEO of Phillips 66.
    “We also continued our strong growth trajectory in Midstream, which generated approximately $1 billion of adjusted EBITDA following the acquisition of Coastal Bend. The Dos Picos II gas processing plant in the Midland Basin recently came online ahead of schedule and on budget. These assets further our stable earnings growth, enhance returns and increase shareholder value as we progress our wellhead-to-market strategy. Looking ahead, we are focused on organic Midstream growth as we advance toward our 2027 targets.”
    Financial Results Summary (in millions of dollars, except as indicated)

     

     

    2Q 2025

    1Q 2025

    Earnings

    $

    877

    487

    Adjusted Earnings (Loss)1

     

    973

    (368)

    Adjusted EBITDA1

     

    2,501

    736

    Earnings (Loss) Per Share

     

     

    Earnings Per Share – Diluted

     

    2.15

    1.18

    Adjusted Earnings (Loss) Per Share – Diluted1

     

    2.38

    (0.90)

    Cash Flow From Operations

     

    845

    187

    Cash Flow From Operations, Excluding Working Capital1

     

    1,920

    259

    Capital Expenditures & Investments

     

    587

    423

    Acquisitions, net of cash acquired

     

    2,220

    Return of Capital to Shareholders

     

    906

    716

    Repurchases of common stock

     

    419

    247

    Dividends paid on common stock

     

    487

    469

    Cash and Cash Equivalents, including cash classified within Assets held for sale2

     

    1,144

    1,489

    Debt

     

    20,935

    18,803

    Debt-to-capital ratio

     

    42%

    40%

    Net debt-to-capital ratio1

     

    41%

    38%

    1 Represents a non-GAAP financial measure. Reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measure are included within this release.

    2 Includes cash and cash equivalents of $92 million classified within Assets held for sale at June 30, 2025.

     

    Segment Financial and Operating Highlights (Millions of dollars, except as indicated)

     

     

    2Q 2025

    1Q 2025

    Change

    Earnings (Loss)1

    $

    877

    487

    390

    Midstream

     

    731

    751

    (20)

    Chemicals

     

    20

    113

    (93)

    Refining

     

    359

    (937)

    1,296

    Marketing and Specialties

     

    571

    1,282

    (711)

    Renewable Fuels

     

    (133)

    (185)

    52

    Corporate and Other

     

    (428)

    (376)

    (52)

    Income tax (expense) benefit

     

    (212)

    (122)

    (90)

    Noncontrolling interests

     

    (31)

    (39)

    8

     

     

     

     

    Adjusted Earnings (Loss)1,2

    $

    973

    (368)

    1,341

    Midstream

     

    731

    683

    48

    Chemicals

     

    20

    113

    (93)

    Refining

     

    392

    (937)

    1,329

    Marketing and Specialties

     

    660

    265

    395

    Renewable Fuels

     

    (133)

    (185)

    52

    Corporate and Other

     

    (383)

    (355)

    (28)

    Income tax (expense) benefit

     

    (283)

    78

    (361)

    Noncontrolling interests

     

    (31)

    (30)

    (1)

     

     

     

     

    Adjusted EBITDA2

    $

    2,501

    736

    1,765

    Midstream

     

    972

    885

    87

    Chemicals

     

    148

    244

    (96)

    Refining

     

    867

    (452)

    1,319

    Marketing and Specialties

     

    718

    315

    403

    Renewable Fuels

     

    (110)

    (162)

    52

    Corporate and Other

     

    (94)

    (94)

     

     

     

     

    Operating Highlights

     

     

     

    Pipeline Throughput – Y-Grade to Market (MB/D)3

     

    956

    704

    252

    Chemicals Global O&P Capacity Utilization

     

    92%

    100%

    (8%)

    Refining

     

     

     

    Turnaround Expense4

     

    53

    270

    (217)

    Realized Margin ($/BBL)2

     

    11.25

    6.81

    4.44

    Crude Capacity Utilization

     

    98%

    80%

    18%

    Clean Product Yield

     

    86%

    87%

    (1%)

    Renewable Fuels Produced (MB/D)

     

    40

    44

    (4)

    1 Segment reporting is pre-tax.

     

     

     

    2 Represents a non-GAAP financial measure. Reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measure are included within this release.

    3 Represents volumes delivered to fractionation hubs, including Mont Belvieu, Sweeny and Conway. Includes 100% of DCP Midstream Class A Segment and Phillips 66’s direct interest in DCP Sand Hills Pipeline, LLC and DCP Southern Hills Pipeline, LLC.

    4 Excludes turnaround expense of all equity affiliates.

     

     

     

    Second-Quarter 2025 Financial Results
    Reported earnings were $877 million for the second quarter of 2025 versus $487 million in the first quarter of 2025. Second-quarter earnings included pre-tax special item adjustments of $(89) million in the Marketing and Specialties segment, $(45) million impacting Corporate and Other and $(33) million in the Refining segment. Adjusted earnings for the second quarter were $973 million versus an adjusted loss of $368 million in the first quarter.

    Midstream second-quarter 2025 adjusted pre-tax income increased compared with the first quarter mainly due to higher volumes, largely driven by the acquisition of Coastal Bend, partially offset by seasonal maintenance expense and property taxes.

    Chemicals adjusted pre-tax income decreased mainly due to lower margins driven by lower sales prices.

    Refining adjusted pre-tax results increased mainly due to higher realized margins resulting from improved market crack spreads, as well as higher volumes and lower costs.

    Marketing and Specialties adjusted pre-tax income increased primarily due to higher margins and volumes.

    Renewable Fuels pre-tax results improved primarily due to higher realized margins including inventory impacts, as well as increased credits.

    Corporate and Other adjusted pre-tax loss increased mainly due to higher net interest expense, partially offset by impacts from our investment in NOVONIX.

    As of June 30, 2025, the company had $1.1 billion of cash and cash equivalents and $3.7 billion of committed capacity available under credit facilities.
    Business Highlights and Strategic Priorities Progress

    Advanced NGL wellhead-to-market strategy by acquiring Coastal Bend and nearing completion of a related pipeline expansion project, expected to increase capacity from 175 MBD to 225 MBD

    Expanded natural gas gathering and processing capacity with the startup of Dos Picos II, a 220 MMCF/D plant in the Midland Basin

    Maintained disciplined operations in Refining and achieved $5.46 per barrel in Refining Adjusted Controllable Costs 1, excluding adjusted turnaround expense in the second quarter and $6.17 per barrel year-to-date

    Achieved a record year-to-date clean product yield of 87%, reflecting a 2% increase from the same period in 2024

    On track to cease operations at the Los Angeles Refinery, as well as complete the Germany and Austria transaction by year-end.

    1 Represents a non-GAAP financial measure. Reconciliations of non-GAAP financial measures to the most comparable GAAP financial measure are included within this release.

    Investor Webcast
    Members of Phillips 66 executive management will host a webcast at noon ET to provide an update on the company’s strategic initiatives and discuss the company’s second-quarter performance. To access the webcast and view related presentation materials, go to phillips66.com/investors and click on “Events & Presentations.” For detailed supplemental information, go to phillips66.com/supplemental.
    About Phillips 66
    Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.
    Use of Non-GAAP Financial Information—This news release includes the terms “adjusted earnings (loss),” “adjusted pre-tax income (loss),” “adjusted EBITDA,” “adjusted earnings (loss) per share,” “adjusted controllable cost,” “cash from operations, excluding working capital,” “net debt-to-capital ratio,” and “realized refining margin per barrel.” These are non-GAAP financial measures that are included to help facilitate comparisons of operating performance across periods, to help facilitate comparisons with other companies in our industry and to help facilitate determination of enterprise value. Where applicable, these measures exclude items that do not reflect the core operating results of our businesses in the current period or other adjustments to reflect how management analyzes results. Reconciliations of these non-GAAP financial measures to the most comparable GAAP financial measure are included within this release.
    References in the release to earnings refer to net income attributable to Phillips 66.
    Basis of Presentation— Effective April 1, 2024, we changed the internal financial information reviewed by our chief executive officer to evaluate performance and allocate resources to our operating segments. This included changes in the composition of our operating segments, as well as measurement changes for certain activities between our operating segments. The primary effects of this realignment included establishment of a Renewable Fuels operating segment, which includes renewable fuels activities and assets historically reported in our Refining, Marketing and Specialties (M&S), and Midstream segments; change in method of allocating results for certain Gulf Coast distillate export activities from our M&S segment to our Refining segment; reclassification of certain crude oil and international clean products trading activities between our M&S segment and our Refining segment; and change in reporting of our investment in NOVONIX from our Midstream segment to Corporate and Other. Accordingly, prior period results have been recast for comparability.
    In the third quarter of 2024, we began presenting the line item “Capital expenditures and investments” on our consolidated statement of cash flows exclusive of acquisitions, net of cash acquired. Accordingly, prior period information has been reclassified for comparability.
    Cautionary Statement for the Purposes of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995—This news release contains forward-looking statements within the meaning of the federal securities laws relating to Phillips 66’s operations, strategy and performance. Words such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “objective,” “goal,” “project,” “efforts,” “strategies” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum or renewable fuels products pricing, regulation or taxation, including exports; our ability to timely obtain or maintain permits, including those necessary for capital projects; fluctuations in NGL, crude oil, refined petroleum products, renewable fuels, renewable feedstocks and natural gas prices, and refined product, marketing and petrochemical margins; the effects of any widespread public health crisis and its negative impact on commercial activity and demand for our products; changes to government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs including the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; liability resulting from pending or future litigation or other legal proceedings; liability for remedial actions, including removal and reclamation obligations under environmental regulations; unexpected changes in costs or technical requirements for constructing, modifying or operating our facilities or transporting our products; our ability to successfully complete, or any material delay in the completion of, any asset disposition, acquisition, shutdown or conversion that we may pursue, including receipt of any necessary regulatory approvals or permits related thereto; unexpected technological or commercial difficulties in manufacturing, refining or transporting our products, including chemical products; the level and success of producers’ drilling plans and the amount and quality of production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; changes in the cost or availability of adequate and reliable transportation for our NGL, crude oil, natural gas and refined petroleum and renewable fuels products; failure to complete definitive agreements and feasibility studies for, and to complete construction of, announced and future capital projects on time or within budget; our ability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to our credit profile or illiquidity or uncertainty in the domestic or international financial markets; damage to our facilities due to accidents, weather and climate events, civil unrest, insurrections, political events, terrorism or cyberattacks; domestic and international economic and political developments including armed hostilities, such as the war in Eastern Europe, instability in the financial services and banking sector, excess inflation, expropriation of assets and changes in fiscal policy, including interest rates; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and properties, plants and equipment and/or strategic decisions or other developments with respect to our asset portfolio that cause impairment charges; substantial investments required, or reduced demand for products, as a result of existing or future environmental rules and regulations, including greenhouse gas emissions reductions and reduced consumer demand for refined petroleum products; changes in tax, environmental and other laws and regulations (including alternative energy mandates) applicable to our business; political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of our joint ventures that we do not control; the potential impact of activist shareholder actions or tactics; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

    Earnings (Loss)

     

     

     

     

     

     

     

    Millions of Dollars

     

    2025

     

    2024

     

    2Q

    1Q

    Jun YTD

     

    2Q

    Jun YTD

    Midstream

    $

    731

     

    751

     

    1,482

     

     

    767

     

    1,321

     

    Chemicals

     

    20

     

    113

     

    133

     

     

    222

     

    427

     

    Refining

     

    359

     

    (937

    )

    (578

    )

     

    302

     

    518

     

    Marketing and Specialties

     

    571

     

    1,282

     

    1,853

     

     

    415

     

    781

     

    Renewable Fuels

     

    (133

    )

    (185

    )

    (318

    )

     

    (55

    )

    (110

    )

    Corporate and Other

     

    (428

    )

    (376

    )

    (804

    )

     

    (340

    )

    (662

    )

    Pre-Tax Income (Loss)

     

    1,120

     

    648

     

    1,768

     

     

    1,311

     

    2,275

     

    Less: Income tax expense (benefit)

     

    212

     

    122

     

    334

     

     

    291

     

    494

     

    Less: Noncontrolling interests

     

    31

     

    39

     

    70

     

     

    5

     

    18

     

    Phillips 66

    $

    877

     

    487

     

    1,364

     

     

    1,015

     

    1,763

     

     

     

     

     

     

     

     

    Adjusted Earnings (Loss)

     

     

     

     

     

     

     

    Millions of Dollars

     

    2025

     

    2024

     

    2Q

    1Q

    Jun YTD

     

    2Q

    Jun YTD

    Midstream

    $

    731

     

    683

     

    1,414

     

     

    753

     

    1,366

     

    Chemicals

     

    20

     

    113

     

    133

     

     

    222

     

    427

     

    Refining

     

    392

     

    (937

    )

    (545

    )

     

    302

     

    615

     

    Marketing and Specialties

     

    660

     

    265

     

    925

     

     

    415

     

    722

     

    Renewable Fuels

     

    (133

    )

    (185

    )

    (318

    )

     

    (55

    )

    (110

    )

    Corporate and Other

     

    (383

    )

    (355

    )

    (738

    )

     

    (340

    )

    (662

    )

    Pre-Tax Income (Loss)

     

    1,287

     

    (416

    )

    871

     

     

    1,297

     

    2,358

     

    Less: Income tax expense (benefit)

     

    283

     

    (78

    )

    205

     

     

    278

     

    504

     

    Less: Noncontrolling interests

     

    31

     

    30

     

    61

     

     

    35

     

    48

     

    Phillips 66

    $

    973

     

    (368

    )

    605

     

     

    984

     

    1,806

     

     

     

     

     

     

     

     

     

    Millions of Dollars

     

    Except as Indicated

     

    2025

     

    2024

     

    2Q

    1Q

    Jun YTD

     

    2Q

    Jun YTD

    Reconciliation of Consolidated Earnings to Adjusted Earnings (Loss)

     

     

     

     

     

     

    Consolidated Earnings

    $

    877

     

    487

     

    1,364

     

     

    1,015

     

    1,763

     

    Pre-tax adjustments:

     

     

     

     

     

     

    Impairments

     

     

    21

     

    21

     

     

    224

     

    387

     

    Net (gain) loss on asset dispositions1

     

    89

     

    (1,085

    )

    (996

    )

     

    (238

    )

    (238

    )

    Legal accrual

     

    33

     

     

    33

     

     

     

     

    Legal settlement

     

     

     

     

     

     

    (66

    )

    Professional advisory fees

     

    45

     

     

    45

     

     

     

     

    Tax impact of adjustments2

     

    (40

    )

    200

     

    160

     

     

    13

     

    (10

    )

    Other tax impacts

     

    (31

    )

     

    (31

    )

     

     

     

    Noncontrolling interests

     

     

    9

     

    9

     

     

    (30

    )

    (30

    )

    Adjusted earnings (loss)

    $

    973

     

    (368

    )

    605

     

     

    984

     

    1,806

     

    Earnings per share of common stock (dollars)

    $

    2.15

     

    1.18

     

    3.32

     

     

    2.38

     

    4.10

     

    Adjusted earnings (loss) per share of common stock (dollars)

    $

    2.38

     

    (0.90

    )

    1.47

     

     

    2.31

     

    4.21

     

    Adjusted Weighted-Average Diluted Common Shares Outstanding (thousands)

     

    407,934

     

    409,182

     

    409,012

     

     

    425,734

     

    429,003

     

     

     

     

     

     

     

     

    Reconciliation of Segment Pre-Tax Income (Loss) to Adjusted Pre-Tax Income (Loss)

     

     

     

     

     

     

    Midstream Pre-Tax Income

    $

    731

     

    751

     

    1,482

     

     

    767

     

    1,321

     

    Pre-tax adjustments:

     

     

     

     

     

     

    Impairments

     

     

     

     

     

    224

     

    283

     

    Net gain on asset dispositions1

     

     

    (68

    )

    (68

    )

     

    (238

    )

    (238

    )

    Adjusted pre-tax income

    $

    731

     

    683

     

    1,414

     

     

    753

     

    1,366

     

    Chemicals Pre-Tax Income

    $

    20

     

    113

     

    133

     

     

    222

     

    427

     

    Pre-tax adjustments:

     

     

     

     

     

     

    None

     

     

     

     

     

     

     

    Adjusted pre-tax income

    $

    20

     

    113

     

    133

     

     

    222

     

    427

     

    Refining Pre-Tax Income (Loss)

    $

    359

     

    (937

    )

    (578

    )

     

    302

     

    518

     

    Pre-tax adjustments:

     

     

     

     

     

     

    Impairments

     

     

     

     

     

     

    104

     

    Legal settlement

     

     

     

     

     

     

    (7

    )

    Legal accrual

     

    33

     

     

    33

     

     

     

     

    Adjusted pre-tax income (loss)

    $

    392

     

    (937

    )

    (545

    )

     

    (302

    )

    (615

    )

    Marketing and Specialties Pre-Tax Income

    $

    571

     

    1,282

     

    1,853

     

     

    415

     

    781

     

    Pre-tax adjustments:

     

     

     

     

     

     

    Net (gain) loss on asset dispositions1

     

    89

     

    (1,017

    )

    (928

    )

     

     

     

    Legal settlement

     

     

     

     

     

     

    (59

    )

    Adjusted pre-tax income

    $

    660

     

    265

     

    925

     

     

    415

     

    722

     

    Renewable Fuels Pre-Tax Loss

    $

    (133

    )

    (185

    )

    (318

    )

     

    (55

    )

    (110

    )

    Pre-tax adjustments:

     

     

     

     

     

     

    None

     

     

     

     

     

     

     

    Adjusted pre-tax loss

    $

    (133

    )

    (185

    )

    (318

    )

     

    (55

    )

    (110

    )

    Corporate and Other Pre-Tax Loss

    $

    (428

    )

    (376

    )

    (804

    )

     

    (340

    )

    (662

    )

    Pre-tax adjustments:

     

     

     

     

     

     

    Impairments

     

     

    21

     

    21

     

     

     

     

    Professional advisory fees

     

    45

     

     

    45

     

     

     

     

    Adjusted pre-tax loss

    $

    (383

    )

    (355

    )

    (738

    )

     

    (340

    )

    (662

    )

     

     

     

     

     

     

     

    1. Gain on disposition of our 49% non-operated equity interest in Coop Mineraloel AG in 1Q 2025. In connection with our pending disposition of our Germany and Austria retail marketing business, in the second quarter of 2025 we recognized a before-tax unrealized loss from foreign currency derivatives.

    2. We generally tax effect taxable U.S.-based special items using a combined federal and state annual statutory income tax rate of approximately 24%. Taxable special items attributable to foreign locations likewise generally use a local statutory income tax rate. Nontaxable events reflect zero income tax. These events include, but are not limited to, most goodwill impairments, transactions legislatively exempt from income tax, transactions related to entities for which we have made an assertion that the undistributed earnings are permanently reinvested, or transactions occurring in jurisdictions with a valuation allowance.

     

    Millions of Dollars

     

    Except as Indicated

     

    2025

     

    2Q

    1Q

    Reconciliation of Consolidated Net Income to Adjusted EBITDA Attributable to Phillips 66

     

     

    Net Income

    $

    908

     

    526

     

    Plus:

     

     

    Income tax expense

     

    212

     

    122

     

    Net interest expense

     

    230

     

    187

     

    Depreciation and amortization

     

    816

     

    791

     

    Phillips 66 EBITDA

    $

    2,166

     

    1,626

     

    Special Item Adjustments (pre-tax):

     

     

    Impairments

     

     

    21

     

    Net (gain) loss on asset dispositions

     

    89

     

    (1,085

    )

    Legal accrual

     

    33

     

     

    Professional advisory fees

     

    45

     

     

    Total Special Item Adjustments (pre-tax)

     

    167

     

    (1,064

    )

    Change in Fair Value of NOVONIX Investment

     

    2

     

    15

     

    Phillips 66 EBITDA, Adjusted for Special Items and Change in Fair Value of NOVONIX Investment

    $

    2,335

     

    577

     

    Other Adjustments (pre-tax):

     

     

    Proportional share of selected equity affiliates income taxes

     

    17

     

    18

     

    Proportional share of selected equity affiliates net interest

     

    15

     

    14

     

    Proportional share of selected equity affiliates depreciation and amortization

     

    184

     

    187

     

    Adjusted EBITDA attributable to noncontrolling interests

     

    (50

    )

    (60

    )

    Phillips 66 Adjusted EBITDA

    $

    2,501

     

    736

     

     

     

     

    Reconciliation of Segment Income before Income Taxes to Adjusted EBITDA

     

     

    Midstream Income before income taxes

    $

    731

     

    751

     

    Plus:

     

     

    Depreciation and amortization

     

    260

     

    233

     

    Midstream EBITDA

    $

    991

     

    984

     

    Special Item Adjustments (pre-tax):

     

     

    Net gain on asset dispositions

     

     

    (68

    )

    Midstream EBITDA, Adjusted for Special Items

    $

    991

     

    916

     

    Other Adjustments (pre-tax):

     

     

    Proportional share of selected equity affiliates income taxes

     

    4

     

    3

     

    Proportional share of selected equity affiliates net interest

     

    3

     

    3

     

    Proportional share of selected equity affiliates depreciation and amortization

     

    24

     

    23

     

    Adjusted EBITDA attributable to noncontrolling interests

     

    (50

    )

    (60

    )

    Midstream Adjusted EBITDA

    $

    972

     

    885

     

    Chemicals Income before income taxes

    $

    20

     

    113

     

    Plus:

     

     

    None

     

     

     

    Chemicals EBITDA

    $

    20

     

    113

     

    Special Item Adjustments (pre-tax):

     

     

    None

     

     

    Chemicals EBITDA, Adjusted for Special Items

    $

    20

     

    113

     

    Other Adjustments (pre-tax):

     

     

    Proportional share of selected equity affiliates income taxes

     

    13

     

    13

     

    Proportional share of selected equity affiliates net interest

     

    (1

    )

    (1

    )

    Proportional share of selected equity affiliates depreciation and amortization

     

    116

     

    119

     

    Chemicals Adjusted EBITDA

    $

    148

     

    244

     

    Refining Income (loss) before income taxes

    $

    359

     

    (937

    )

    Plus:

     

     

    Depreciation and amortization

     

    443

     

    456

     

    Refining EBITDA

    $

    802

     

    (481

    )

    Special Item Adjustments (pre-tax):

     

     

    Legal accrual

     

    33

     

     

    Refining EBITDA, Adjusted for Special Items

    $

    835

     

    (481

    )

    Other Adjustments (pre-tax):

     

     

    Proportional share of selected equity affiliates income taxes

     

     

     

    Proportional share of selected equity affiliates net interest

     

    3

     

    2

     

    Proportional share of selected equity affiliates depreciation and amortization

     

    29

     

    27

     

    Refining Adjusted EBITDA

    $

    867

     

    (452

    )

    Marketing and Specialties Income before income taxes

    $

    571

     

    1,282

     

    Plus:

     

     

    Depreciation and amortization

     

    33

     

    20

     

    Marketing and Specialties EBITDA

    $

    604

     

    1,302

     

    Special Item Adjustments (pre-tax):

     

     

    Net gain on asset disposition

     

    89

     

    (1,017

    )

    Marketing and Specialties EBITDA, Adjusted for Special Items

    $

    693

     

    285

     

    Other Adjustments (pre-tax):

     

     

    Proportional share of selected equity affiliates income taxes

     

     

    2

     

    Proportional share of selected equity affiliates net interest

     

    10

     

    10

     

    Proportional share of selected equity affiliates depreciation and amortization

     

    15

     

    18

     

    Marketing and Specialties Adjusted EBITDA

    $

    718

     

    315

     

    Renewable Fuels Loss before income taxes

    $

    (133

    )

    (185

    )

    Plus:

     

     

    Depreciation and amortization

     

    23

     

    23

     

    Renewable Fuels EBITDA

    $

    (110

    )

    (162

    )

    Special Item Adjustments (pre-tax):

     

     

    None

     

     

     

    Renewable Fuels EBITDA, Adjusted for Special Items

    $

    (110

    )

    (162

    )

    Corporate and Other Loss before income taxes

    $

    (428

    )

    (376

    )

    Plus:

     

     

    Net interest expense

     

    230

     

    187

     

    Depreciation and amortization

     

    57

     

    59

     

    Corporate and Other EBITDA

    $

    (141

    )

    (130

    )

    Special Item Adjustments (pre-tax):

     

     

    Impairments

     

     

    21

     

    Professional advisory fees

     

    45

     

     

    Total Special Item Adjustments (pre-tax)

     

    45

     

    21

     

    Change in Fair Value of NOVONIX Investment

     

    2

     

    15

     

    Corporate EBITDA, Adjusted for Special Items and Change in
    Fair Value of NOVONIX Investment

    $

    (94

    )

    (94

    )

     

     

     

     

     

     

     

    Millions of Dollars
    Except as Indicated

     

    June 30, 2025

    March 31, 2025

    Debt-to-Capital Ratio

     

     

    Total Debt

    $

    20,935

     

    18,803

     

    Total Equity

     

    28,626

     

     

    28,353

     

    Debt-to-Capital Ratio

     

    42

    %

     

    40

    %

    Cash and Cash Equivalents, including cash classified within Assets held for sale1

     

    1,144

     

     

    1,489

     

    Net Debt-to-Capital Ratio

     

    41

    %

     

    38

    %

    1. Includes cash and cash equivalents of $92 million classified within Assets held for sale at June 30, 2025.

     

    Millions of Dollars

     

    Except as Indicated

     

    2025

     

    2Q

    1Q

    Reconciliation of Refining Income (Loss) Before Income Taxes to Realized Refining Margins

     

     

    Income (loss) before income taxes

    $

    359

     

    (937

    )

    Plus:

     

     

    Taxes other than income taxes

     

    94

     

    110

     

    Depreciation, amortization and impairments

     

    446

     

    457

     

    Selling, general and administrative expenses

     

    32

     

    46

     

    Operating expenses

     

    848

     

    1,074

     

    Equity in earnings of affiliates

     

    2

     

    105

     

    Other segment expense, net

     

    (47

    )

    (5

    )

    Proportional share of refining gross margins contributed by equity affiliates

     

    234

     

    141

     

    Special items:

     

     

    None

     

     

     

    Realized refining margins

    $

    1,968

     

    991

     

    Total processed inputs (thousands of barrels)

     

    152,005

     

    124,453

     

    Adjusted total processed inputs (thousands of barrels)*

     

    174,772

     

    145,559

     

    Income (loss) before income taxes (dollars per barrel)**

    $

    2.36

     

    (7.53

    )

    Realized refining margins (dollars per barrel)***

    $

    11.25

     

    6.81

     

    *Adjusted total processed inputs include our proportional share of processed inputs of an equity affiliate.

    **Income (loss) before income taxes divided by total processed inputs.

    ***Realized refining margins per barrel, as presented, are calculated using the underlying realized refining margin amounts, in dollars, divided by adjusted total processed inputs, in barrels. As such, recalculated per barrel amounts using the rounded margins and barrels presented may differ from the presented per barrel amounts.

     

    Millions of Dollars

     

    Except as Indicated

     

    2025

     

    2Q

    1Q

    June YTD

    Reconciliation of Refining Operating and SG&A Expenses to Refining Adjusted Controllable Costs

     

     

     

    Turnaround expenses

    $

    53

     

    270

    323

     

    Other operating expenses

     

    795

     

    804

    1,599

     

    Total operating expenses

     

    848

     

    1,074

    1,922

     

    Selling, general and administrative expenses

     

    32

     

    46

    78

     

    Refining Controllable Costs

     

    880

     

    1,120

    2,000

     

    Plus:

     

     

     

    Proportional share of equity affiliate turnaround expenses1

     

    24

     

    27

    51

     

    Proportional share of equity affiliate other operating and SG&A expenses1

     

    161

     

    173

    334

     

    Total proportional share of equity affiliate operating and SG&A expenses1

     

    185

     

    200

    385

     

    Special item adjustments (pre-tax):

     

     

     

    Legal accrual

     

    (33

    )

    (33

    )

    Refining Adjusted Controllable Costs

     

    1,032

     

    1,320

    2,352

     

     

     

     

     

    Total processed inputs (MB)

     

    152,005

     

    124,453

    276,458

     

    Adjusted total processed inputs (MB)2

     

    174,772

     

    145,559

    320,331

     

     

     

     

     

    Refining turnaround expense ($/BBL)3

     

    0.35

     

    2.17

    1.17

     

    Refining controllable costs, excluding turnaround expense ($/BBL)3

     

    5.44

     

    6.83

    6.07

     

    Refining Controllable Costs per Barrel ($/BBL)3

     

    5.79

     

    9.00

    7.24

     

     

     

     

     

    Refining adjusted turnaround expense ($/BBL)4

     

    0.44

     

    2.04

    1.17

     

    Refining adjusted controllable costs, excluding adjusted turnaround expense ($/BBL)4

     

    5.46

     

    7.03

    6.17

     

    Refining Adjusted Controllable Costs ($/BBL)4

     

    5.90

     

    9.07

    7.34

     

     

     

     

     

    1. Represents proportional share of operating and SG&A of equity affiliates for our Refining segment that are reflected as a component of equity in earnings of affiliates on our consolidated statement of income.

    2. Adjusted total processed inputs include our proportional share of processed inputs of an equity affiliate.

    3. Denominator is total processed inputs.

    4. Denominator is adjusted total processed inputs.

     

    Millions of Dollars

     

    Except as Indicated

     

    2024

    2023

    2022

    2021

    Reconciliation of Refining Operating and SG&A Expenses to Refining Adjusted Controllable Costs

     

     

     

     

    Turnaround expenses

    $

    484

     

    538

     

    772

     

    497

     

    Other operating expenses

     

    3,243

     

    3,707

     

    3,958

     

    3,663

     

    Total operating expenses

     

    3,727

     

    4,245

     

    4,730

     

    4,160

     

    Selling, general and administrative expenses

     

    209

     

    169

     

    152

     

    131

     

    Refining Controllable Costs

     

    3,936

     

    4,414

     

    4,882

     

    4,291

     

    Plus:

     

     

     

     

    Proportional share of equity affiliate turnaround expenses1

     

    68

     

    93

     

    118

     

    118

     

    Proportional share of equity affiliate other operating and SG&A expenses1

     

    626

     

    641

     

    721

     

    619

     

    Total proportional share of equity affiliate operating and SG&A expenses1

     

    694

     

    734

     

    839

     

    737

     

    Special item adjustments (pre-tax):

     

     

     

     

    Hurricane-related (costs) recovery

     

     

     

    21

     

    (40

    )

    Winter-storm-related costs

     

     

     

     

    (17

    )

    Alliance shutdown-related costs

     

     

     

    (20

    )

    (32

    )

    Legal accrual

     

    (22

    )

    (30

    )

     

     

    Los Angeles Refinery cessation costs

     

    (44

    )

     

     

     

    Refining Adjusted Controllable Costs

     

    4,564

     

    5,118

     

    5,722

     

    4,939

     

     

     

     

     

     

    Total processed inputs (MB)

     

    588,316

     

    607,958

     

    612,741

     

    638,145

     

    Adjusted total processed inputs (MB)2

     

    680,043

     

    685,435

     

    691,855

     

    715,780

     

     

     

     

     

     

    Refining turnaround expense ($/BBL)3

     

    0.82

     

    0.88

     

    1.26

     

    0.78

     

    Refining controllable costs, excluding turnaround expense ($/BBL)3

     

    5.87

     

    6.38

     

    6.71

     

    5.95

     

    Refining Controllable Costs per Barrel ($/BBL)3

     

    6.69

     

    7.26

     

    7.97

     

    6.72

     

     

     

     

     

     

    Refining adjusted turnaround expense ($/BBL)4

     

    0.81

     

    0.92

     

    1.29

     

    0.86

     

    Refining adjusted controllable costs, excluding adjusted turnaround expense ($/BBL)4

     

    5.90

     

    6.55

     

    6.98

     

    6.04

     

    Refining Adjusted Controllable Costs ($/BBL)4

     

    6.71

     

    7.47

     

    8.27

     

    6.90

     

     

     

     

     

     

    1. Represents proportional share of operating and SG&A of equity affiliates for our Refining segment that are reflected as a component of equity in earnings of affiliates on our consolidated statement of income.

    2. Adjusted total processed inputs include our proportional share of processed inputs of an equity affiliate.

    3. Denominator is total processed inputs.

    4. Denominator is adjusted total processed inputs.

    Source: Phillips 66

    MIL OSI Global Banks

  • MIL-OSI Africa: The United Nations World Food Programme (WFP) concludes El Nino Emergency Drought Relief Response through the global humanitarian fund in Namibia

    Source: APO – Report:

    .

    The United Nations World Food Programme (WFP) in collaboration with partner organisations, has successfully wrapped up a critical a nine-month emergency response in support of the Government of Namibia’s Emergency Drought Response Plan to the El Niño-induced drought.

    With a contribution of US$3 million from the UN Central Emergency Response Fund (UN-CERF), WFP supported the government in delivering life-saving food and nutrition assistance to over 63,000 vulnerable people across Kavango East, Kavango West, and Omaheke regions between October 2024 and June 2025.

    In addition to food assistance, the project served as a platform for integrated service delivery. At food distribution sites, UNICEF provided outreach and basic health screenings for more than 83,500 people and facilitated referrals for malnourished children. UNFPA reached more than 22,400 people with Sexual and Reproductive Health (SRH) and Gender-Based Violence (GBV) services through daily mobile outreach in schools and communities. A community feedback mechanism system was also established, enabling affected populations to share their needs, concerns and suggestions to help shape and improve the response. 

    “This emergency response was about more than just delivering food, it was about restoring dignity and hope to communities hit hardest by the drought,” said Naouar Labidi, WFP Country Representative in Namibia. “Thanks to the generous support from UN-CERF and our collaboration with the Office of the Prime Minister and UN partners, namely the United Nations Children’s Fund (UNICEF) and the United Nations Population Fund (UNFPA), we reached tens of thousands of people with vital humanitarian assistance. But we also used this moment to invest in local capacity, strengthen partnerships, and helping communities build the resilience they need to face climate shocks.”

    The contribution from CERF allowed over 41,000 people (nearly 7000 households) to receive three rounds of food vouchers, enabling them to purchase essential items such as maize meal, canned fish and cooking oil from 25 participating retailers. This not only supported immediate needs, but also helped boost the local economy, laying the groundwork for longer-term resilience by supporting local businesses, creating employment opportunities, and strengthening local supply chains. At the same time, 22,000 children received hot and nutritious meals from 155 conveniently located soup kitchens.

    WFP remains committed to working closely with the Government of Namibia, UN agencies and partners to strengthen food systems, build community resilience and enhance emergency preparedness to future climate shocks.

    – on behalf of World Food Programme (WFP).

    MIL OSI Africa

  • MIL-OSI Africa: Mashatile highlights role of SMEs in economic growth and job creation

    Source: Government of South Africa

    Deputy President Paul Mashatile has highlighted the critical role of small and medium enterprises (SMEs) as crucial contributors to economic development and job creation. 

    “Speaking of job creation, the SMEs are significant contributors to economic development and job creation globally. We can attribute their relevance in reducing unemployment to their ability to react swiftly to market changes,“ he said on Thursday. 

    The country’s second-in-command was delivering his closing remarks during the inaugural Global SME Ministerial Meeting at the Birchwood Hotel & OR Tambo Conference Centre, Boksburg, Gauteng. 

    The Deputy President has called for prioritising the development of SMEs to create jobs and enhance income for youth, women, and marginalised groups.

    He stressed the need for a commitment to resolving regulatory bottlenecks related to cross-border trade and investment, urging participants to focus on local value creation and expanding local supply chain opportunities for micro, small, and medium enterprises (MSMEs). 

    “This can be achieved by ensuring that the Green Economy Transition is supported by clear green industrialisation policies,” he added. 

    The Global SME Ministerial Meeting served as a vital platform for fostering partnerships and setting a collaborative agenda aimed at propelling SMEs towards a more sustainable, inclusive, and prosperous future.

    The meeting concluded with a renewed commitment to support SMEs worldwide, as leaders gathered to address the challenges and opportunities they face in a rapidly changing global landscape. 

    “This inaugural Global SME Ministerial Meeting could not have come at a better time,” he told the attendees. 

    The discussions revolved around key themes such as enhancing access to finance, promoting digital transformation, and facilitating green transitions within the SME sector. 

    Mashatile expressed optimism, highlighting the potential for collaboration and shared goals to unlock significant opportunities for SMEs globally.

    He also took the time to commend the role of the United Nations (UN) in fostering multilateral cooperation during a time when unilateralism is challenging the sustainability of nations. 

    “This relationship is critical in this challenging period of abrupt shifts towards unilateralism, which jeopardise the sustainability of our respective countries and the world,” Mashatile added.

    The Deputy President touched on the “Call to Action” that emerged from the meeting, which reaffirmed support for vital multilateral initiatives, including the Sustainable Development Goals, the Paris Agreement on Climate Change, the Pact for the Future, the Global Digital Compact, the Declaration on Future Generations, the Paris Agreement on Climate Change, and Group of 20 (G20). 

    He stressed South Africa’s position as the G20 Presidency, under the theme of ‘Solidarity, Equality, Sustainability,’ focused on championing developmental issues, particularly in Africa.

    As the G20 Leaders’ Summit approaches, Deputy President Mashatile told attendees that the meeting was instrumental in gathering ministers from the continent and the Global South to exchange insights relevant to the larger G20 agenda.

    “We have heard your voices and will ensure that we champion the issues you have raised in the broader G20 processes and the G20 Leaders’ Summit in November,” he said.

    In addition, a meeting of Trade Promotion Organisations took place alongside the Ministerial Meeting, where participants discussed the impacts of trade protectionism and disruptions to global supply chains. 

    The Deputy President urged governments to enhance trade and economic diplomacy, emphasising the importance of multilateral trade agreements in bolstering economic growth.

    “We must enhance our capabilities to strengthen trade and economic diplomacy, allowing ourselves to engage more effectively in both bilateral and multilateral trade agreements,” Mashatile stated.

    South Africa’s efforts to strengthen regional trade through agreements like the Southern African Customs Union and the African Continental Free Trade Area (AfCFTA) were highlighted as pivotal steps towards unlocking Africa’s economic potential. 

    “The Free Trade Area Agreement can significantly enhance Africa’s entrepreneurial landscape by reducing trade barriers and increasing market access, enabling youth to expand businesses, innovate products and services, and seize untapped opportunities within the continent.” – SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI Europe: Italy: EIB and Banca Ifis provide €200 million in financing to back Italian pharmacies, with a focus on female entrepreneurs and cohesion

    Source: European Investment Bank

    EIB

    • The EIB has approved a new €100 million credit line to Banca Ifis to make it easier for Italian pharmacies to access finance.
    • Banca Ifis will match the EIB’s contribution with its own resources, bringing the total funding for businesses to €200 million.
    • At least €60 million will go to pharmacies managed by women. This operation brings the total investments supported by the EIB and Banca Ifis to €800 million since 2019.

    The European Investment Bank (EIB) and Banca Ifis have signed a €200 million agreement to back the development of pharmacies in Italy, with a particular focus on female entrepreneurs and cohesion. The signature was announced today by EIB Vice-President Gelsomina Vigliotti and Banca Ifis Vice-President Rosalba Benedetto.

    “This agreement marks a further step towards a more inclusive, dynamic and sustainable economy. Backing small and medium companies strengthens a country’s business environment and becomes even more of a strategic imperative when access to finance means new opportunities for female entrepreneurs, promoting growth, innovation and social cohesion,” said EIB Vice-President Gelsomina Vigliotti.

    “This agreement confirms our support for Italian small and medium companies and our commitment to backing gender equality and female entrepreneurship. The pharmacies we are backing with sector specialist Banca Credifarma provide access to local primary care services and are a vital focal point for local communities. This agreement reinforces our years-long journey with an institution at the highest echelons of the European Union – the EIB – which has always put environmental, social and governance issues at the heart of its initiatives with the aim of accelerating the sustainable transition of our economy,” said Banca Ifis Vice-President Rosalba Benedetto.

    In concrete terms, the agreement states that EIB will provide Banca Ifis with €100 million by signing two contracts of €50 million each, opening a credit line with favourable interest rates. Banca Ifis will match the amount provided by the EIB, bringing the total funding offered to Italian pharmacies to €200 million. The loan will be granted by Banca Credifarma, a Banca Ifis-controlled financial institution specialised in supporting the needs of pharmacies.

    Of the €200 million total, at least 30% (over €60 million) will back female entrepreneurs in pharmacies meeting the following criteria: i) at least 51% owned by women; ii) managed by a woman; iii) implementing inclusive policies promoting female employment, exceeding the national sector average. A particular focus will be placed on pharmacies located in cohesion regions.

    The agreement signed today is the sixth between the EIB and Banca Ifis, with the two organisations providing over €800 million to Italian small and medium companies since 2019. This is also the EIB’s first credit line to focus solely on the Italian pharmacy sector.

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy. All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower.

    Banca Ifis

    Banca Ifis is an Italian challenger bank providing specialty finance services for the real economy. Founded in 1983, it is listed on the Milan Stock Exchange and has around 2 000 employees. Banca Ifis’ business model mainly focuses on three pillars: commercial and corporate banking services; acquisition and management of non-performing loan portfolios in the small tickets unsecured segment; and retail savings solutions with the Rendimax 20-year deposit account. Its 40-year presence on the market means that Banca Ifis can anticipate businesses’ needs, supporting them on a day-to-day basis with tailored financial solutions. Technological innovation research and ongoing digital transformation are enabling the bank to expand its range of products and services and to improve the quality and speed of service to businesses. It implements its sustainable business approach by seeking solutions promoting the environmental transition and inclusion.

    To this end, Banca Ifis created the Kaleidos social impact lab to help spread of a more equitable, inclusive and supportive culture. Created under the auspices of Chairman Ernesto Fürstenberg Fassio, the initiative is backed by a proprietary social impact measurement model enabling Banca Ifis to measure positive impact inside and outside the company. In 2025, the bank successfully acquired illimity Bank in a public takeover and exchange offer that launched a new development phase in which Banca Ifis aims to consolidate its leadership in the Italian specialty finance market.

    MIL OSI Europe News

  • MIL-OSI Europe: EIB supports Greek foodtech innovator STIQ with €20 million under InvestEU to scale up AI-powered cloud kitchen platform

    Source: European Investment Bank

    EIB

    • The European Investment Bank is investing €20 million in Greek foodtech company STIQ to support innovation, artificial intelligence, and sustainable food delivery solutions.
    • The financing, backed by the InvestEU programme, will help STIQ scale up its technology platform, reduce food waste, and expand into new European markets.
    • The project promotes digital transformation and economic cohesion, by supporting a Greece-based start-up bringing cutting-edge innovation to the traditional food services sector.

    The European Investment Bank (EIB) is investing €20 million in STIQ, a fast-growing Greek foodtech company pioneering AI-powered cloud kitchen technology. The financing, backed by the InvestEU programme, will support the company’s R&D, digital innovation and international expansion, helping transform the future of food delivery in Europe through smarter, more sustainable and scalable operations.

    The investment is part of the EIB’s strategic focus on digital transformation, innovation and cohesion, and reflects its continued support for high-potential technology ventures in Southern and Eastern Europe. Structured as venture debt with quasi-equity features, the financing will enable STIQ to accelerate the development of its proprietary platform, deploy advanced AI features, and expand its operational footprint beyond Greece into new EU markets.

    EIB Vice-President Yiannis Tsakiris, said: “This investment reflects the EIB’s firm commitment to supporting innovation, digital transformation and entrepreneurship across Europe. STIQ is reshaping the food delivery model through technology, and we are proud to support a Greek company that is building scalable, sustainable solutions with European reach.”

    Strategic impact and EU policy alignment

    The EIB financing is backed by the InvestEU programme under the “Future Technologies” window and addresses key market gaps in access to growth capital for early-stage European tech companies. It reflects the EU’s broader commitment to:

    • Accelerating the deployment of artificial intelligence and advanced digital services
    • Enhancing food system resilience through innovation and data
    • Reducing environmental impact in urban logistics and delivery networks

    ·        Supporting economic cohesion by investing in regions with high growth potential but limited access to venture financing.

    Scaling foodtech innovation from Greece to Europe

    Founded in Athens in 2022, STIQ has quickly emerged as a trailblazer in the virtual restaurant (cloud kitchen) space. Its model integrates software, logistics and food operations into a single platform that allows multiple digital restaurant brands to be prepared and delivered efficiently from a network of culinary hubs.

    Key features of the platform include:

    • AI-powered demand forecasting, dynamic menu engineering and inventory optimisation
    • Smart routing and grouped order delivery, reducing CO₂ emissions and delivery time
    • Data-driven operations that enhance consistency, food safety, and customer satisfaction.

    With five live kitchen hubs in Athens, serving over 20 brands to a potential market of 3 million residents, STIQ currently employs 200 staff and plans to reach 30 hubs across Europe by 2029. The company is scaling rapidly while maintaining a strong focus on food quality, operational efficiency and environmental responsibility, including zero-waste targets and the adoption of electric delivery fleets.

    Konstantinos Davaris, Founder & CEO of STIQ said: We are thrilled to welcome the European Investment Bank as a strategic partner in our mission to redefine fast-casual dining. At StiQ, we’re leading a new era of healthy eating by blending cutting-edge technology and AI with culinary excellence. Through our diverse portfolio of brands, including Protein Garden, Dinas, Healthy Concept, and more, we deliver

    delicious, nutritious, and affordable meals that make healthy dining accessible to everyone. With EIB’s support, we’re ready to scale our vision, fostering a more sustainable, health-conscious future for communities worldwide.”

    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, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    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. 

    High-quality, up-to-date photos of our headquarters for media use are available here.

    About InvestEU

    The InvestEU programme brings together EU financial tools to support investment, innovation and job creation. Through an EU budget guarantee and cooperation with partners such as the EIB, it aims to mobilise more than €372 billion in investment during 2021–2027 across strategic sectors and regions.

    About STIQ

    STIQ is an AI-driven foodtech company operating a digital platform of cloud kitchens and virtual restaurant brands. Headquartered in Cyprus and founded in Athens, it combines technology, culinary expertise and logistics to deliver smarter, faster and more sustainable food services. The company has raised over €10 million to date and is now entering its European growth phase.

    MIL OSI Europe News

  • MIL-OSI Europe: EIB supports Greek foodtech innovator STIQ with €20 million under InvestEU to scale up AI-powered cloud kitchen platform

    Source: European Investment Bank

    EIB

    • The European Investment Bank is investing €20 million in Greek foodtech company STIQ to support innovation, artificial intelligence, and sustainable food delivery solutions.
    • The financing, backed by the InvestEU programme, will help STIQ scale up its technology platform, reduce food waste, and expand into new European markets.
    • The project promotes digital transformation and economic cohesion, by supporting a Greece-based start-up bringing cutting-edge innovation to the traditional food services sector.

    The European Investment Bank (EIB) is investing €20 million in STIQ, a fast-growing Greek foodtech company pioneering AI-powered cloud kitchen technology. The financing, backed by the InvestEU programme, will support the company’s R&D, digital innovation and international expansion, helping transform the future of food delivery in Europe through smarter, more sustainable and scalable operations.

    The investment is part of the EIB’s strategic focus on digital transformation, innovation and cohesion, and reflects its continued support for high-potential technology ventures in Southern and Eastern Europe. Structured as venture debt with quasi-equity features, the financing will enable STIQ to accelerate the development of its proprietary platform, deploy advanced AI features, and expand its operational footprint beyond Greece into new EU markets.

    EIB Vice-President Yiannis Tsakiris, said: “This investment reflects the EIB’s firm commitment to supporting innovation, digital transformation and entrepreneurship across Europe. STIQ is reshaping the food delivery model through technology, and we are proud to support a Greek company that is building scalable, sustainable solutions with European reach.”

    Strategic impact and EU policy alignment

    The EIB financing is backed by the InvestEU programme under the “Future Technologies” window and addresses key market gaps in access to growth capital for early-stage European tech companies. It reflects the EU’s broader commitment to:

    • Accelerating the deployment of artificial intelligence and advanced digital services
    • Enhancing food system resilience through innovation and data
    • Reducing environmental impact in urban logistics and delivery networks

    ·        Supporting economic cohesion by investing in regions with high growth potential but limited access to venture financing.

    Scaling foodtech innovation from Greece to Europe

    Founded in Athens in 2022, STIQ has quickly emerged as a trailblazer in the virtual restaurant (cloud kitchen) space. Its model integrates software, logistics and food operations into a single platform that allows multiple digital restaurant brands to be prepared and delivered efficiently from a network of culinary hubs.

    Key features of the platform include:

    • AI-powered demand forecasting, dynamic menu engineering and inventory optimisation
    • Smart routing and grouped order delivery, reducing CO₂ emissions and delivery time
    • Data-driven operations that enhance consistency, food safety, and customer satisfaction.

    With five live kitchen hubs in Athens, serving over 20 brands to a potential market of 3 million residents, STIQ currently employs 200 staff and plans to reach 30 hubs across Europe by 2029. The company is scaling rapidly while maintaining a strong focus on food quality, operational efficiency and environmental responsibility, including zero-waste targets and the adoption of electric delivery fleets.

    Konstantinos Davaris, Founder & CEO of STIQ said: We are thrilled to welcome the European Investment Bank as a strategic partner in our mission to redefine fast-casual dining. At StiQ, we’re leading a new era of healthy eating by blending cutting-edge technology and AI with culinary excellence. Through our diverse portfolio of brands, including Protein Garden, Dinas, Healthy Concept, and more, we deliver

    delicious, nutritious, and affordable meals that make healthy dining accessible to everyone. With EIB’s support, we’re ready to scale our vision, fostering a more sustainable, health-conscious future for communities worldwide.”

    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, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    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. 

    High-quality, up-to-date photos of our headquarters for media use are available here.

    About InvestEU

    The InvestEU programme brings together EU financial tools to support investment, innovation and job creation. Through an EU budget guarantee and cooperation with partners such as the EIB, it aims to mobilise more than €372 billion in investment during 2021–2027 across strategic sectors and regions.

    About STIQ

    STIQ is an AI-driven foodtech company operating a digital platform of cloud kitchens and virtual restaurant brands. Headquartered in Cyprus and founded in Athens, it combines technology, culinary expertise and logistics to deliver smarter, faster and more sustainable food services. The company has raised over €10 million to date and is now entering its European growth phase.

    MIL OSI Europe News

  • MIL-OSI Europe: Spain: Greene signs €224 million financing deal with EIB and Santander to invest in non-recyclable waste recovery

    Source: European Investment Bank

    EIB

    • The financing will be used to build five innovative plants that will convert more than 200 000 tonnes of waste a year into raw materials for industry.
    • Approximately 50% of the financing will come from the European Investment Bank (EIB) and the other 50% from Santander.
    • The project supports the circular economy, climate action and cohesion between regions.

    Greene Enterprise has signed a €224 million financing deal with the European Investment Bank (EIB) and Santander to build five innovative industrial plants in Spain for the treatment of non-recyclable waste. Greene is a Spanish company offering an innovative technology solution for the treatment and recycling of industrial and urban solid waste, biomass and sludge, diverting it from incineration and landfill.

    Expected to be operational between 2026 and 2029, the plants will convert this waste into high-value industrial products through advanced pyrolysis technology. They will all concentrate on extracting value from the reject fraction – waste that would otherwise be sent to landfills or incinerated.

    The total treatment capacity of the five plants will exceed 200 000 tonnes a year. The waste will be converted into pyrolytic oil, char and other reusable materials for industry, supporting the circular economy and helping reduce CO2 emissions.

    The projects to be financed are located in Muel (Zaragoza), La Selva del Camp (Tarragona), San Cristóbal de Entreviñas (Zamora), Madridejos (Toledo) and As Somozas (A Coruña). The Valogreene CML Madridejos and Valogreene Recinor As Somozas plants are in the final phase of construction and are expected to be commissioned in 2026. Two of the plants have been designated as priority interest projects by the autonomous communities of Aragón and Galicia, underscoring their strategic nature.

    The construction and commissioning of the Valogreene plants will help boost the local economy and create jobs in the towns where they are located. Once operational, each plant is expected to create more than 20 direct jobs and more than 40 indirect jobs.

    The project supports the EU Circular Economy Action Plan and contributes to the EIB’s strategic priorities of climate action and cohesion between regions set out in its Strategic Roadmap for 2024-2027.

    Photo legend: Valogreene Recinor As Somozas plant

    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, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

    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 Agreement, as pledged in its 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.

    In Spain, the EIB Group signed €12.3 billion of new financing for more than 100 high-impact projects in 2024. This financing is contributing to the green and digital transition, economic growth, competitiveness and improved services for citizens.

    High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

    Greene

    Greene Enterprise was founded in 2011 by four chemistry entrepreneurs from Elche, Alicante. Its shareholders include two major investment groups. Greene currently has more than 130 employees.

    The company provides the market with an innovative and efficient technology that addresses the need to manage and eliminate materials classified as waste, diverting them from landfill and incineration. This solution applies to various types of waste, notably industrial solid waste, urban solid waste, biomass and water treatment sludge.

    Our technology enables the efficient conversion of solid waste into high-quality raw materials. We use an integrated approach that combines advanced separation techniques and innovative chemical processes to extract reusable materials.

    The Valogreene solid waste material recovery plants developed by Greene target the currently non-recoverable reject fraction of waste and convert it into sustainable raw materials such as oils, calcium carbonate-rich materials, activated carbon, synthetic waxes and hydrogen. This is achieved through a sustainable and profitable thermosconversion process that aligns with circular economy principles and supports 2030 targets.

    High-quality, up-to-date photos of the organisation’s headquarters and projects for media use are available here: https://www.greene.es/multimedia/

    Santander

    Banco Santander (SAN SM) is a leading commercial bank founded in 1857, headquartered in Spain. It is one of the largest banks in the world by market capitalisation. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform, providing services to individuals, small and medium-sized businesses, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. In the first quarter of 2025, Banco Santander had €1.4 trillion in total funds, 175 million customers, 7 900 branches and 207 000 employees.

    MIL OSI Europe News

  • India showcases global leadership in wetlands conservation at Ramsar COP15 in Zimbabwe

    Source: Government of India

    Source: Government of India (4)

    Union Minister for Environment, Forest and Climate Change, Bhupender Yadav on Thursday reaffirmed India’s global leadership in wetlands conservation at the 15th Meeting of the Conference of the Parties (COP15) to the Ramsar Convention on Wetlands. Addressing the High-Level Ministerial Segment in Victoria Falls, Zimbabwe, the Minister highlighted India’s message of “Oneness with Nature” and the country’s integrated approach to sustainable lifestyles in wetland management.

    India currently hosts 91 Ramsar Sites covering 1.36 million hectares—forming Asia’s largest, and the world’s third-largest, network of protected wetlands. Over the past decade, this network has expanded by 250 percent. Yadav proudly noted that for the first time, two Indian cities—Indore and Udaipur—have been internationally recognised as Wetland Cities, underscoring the nation’s commitment to conserving urban wetlands.

    The Minister credited Prime Minister Narendra Modi’s visionary leadership, referencing key environmental campaigns such as Mission LiFE (Lifestyle for Environment) and Ek Ped Maa Ke Naam. He urged the global community to embrace nature-friendly living and symbolic actions like tree plantation in honor of one’s mother.

    India’s citizen-led initiatives, including Mission Sahbhagita and the Save Wetlands Campaign, have mobilised over two million people. These efforts have resulted in the mapping and boundary demarcation of over 170,000 wetlands across the country, contributing significantly to informed conservation strategies.

    Yadav emphasized that India’s wetlands conservation efforts are firmly grounded in constitutional mandates, legal instruments, and policy frameworks. Wetlands are an integral part of national plans such as the National Biodiversity Strategy and Action Plan and the National Wildlife Action Plan. He also highlighted India’s support for the UNEA Resolution 6/8 on promoting sustainable lifestyles, reiterating the importance of integrating such values into conservation policies.

    On the sidelines of the summit, the Minister held bilateral meetings with representatives of key global environmental conventions, including the Ramsar Secretariat, CITES, and the Convention on Migratory Species (CMS). He also met with Zimbabwe’s Minister of Environment, Climate and Wildlife, Dr. Evelyn Ndlovu, to discuss enhanced cooperation in wetland restoration and knowledge exchange.

    Highlighting India’s broader global environmental initiatives, Yadav urged international participation in platforms such as the International Big Cat Alliance (IBCA), the Coalition for Disaster Resilient Infrastructure (CDRI), the International Solar Alliance (ISA), and global movements for sustainable living.

    COP15 of the Ramsar Convention has brought together 172 contracting parties, international organisations, scientists, and civil society representatives to chart out the wetland conservation agenda for the next triennium.

  • MIL-OSI United Nations: WFP concludes El Nino Emergency Drought Relief Response through the global humanitarian fund in Namibia

    Source: World Food Programme

    WINDHOEK – The United Nations World Food Programme (WFP) in collaboration with partner organisations, has successfully wrapped up a critical a nine-month emergency response in support of the Government of Namibia’s Emergency Drought Response Plan to the El Niño-induced drought.

    With a contribution of US$3 million from the UN Central Emergency Response Fund (UN-CERF), WFP supported the government in delivering life-saving food and nutrition assistance to over 63,000 vulnerable people across Kavango East, Kavango West, and Omaheke regions between October 2024 and June 2025.

    In addition to food assistance, the project served as a platform for integrated service delivery. At food distribution sites, UNICEF provided outreach and basic health screenings for more than 83,500 people and facilitated referrals for malnourished children. UNFPA reached more than 22,400 people with Sexual and Reproductive Health (SRH) and Gender-Based Violence (GBV) services through daily mobile outreach in schools and communities. A community feedback mechanism system was also established, enabling affected populations to share their needs, concerns and suggestions to help shape and improve the response. 

    “This emergency response was about more than just delivering food, it was about restoring dignity and hope to communities hit hardest by the drought,” said Naouar Labidi, WFP Country Representative in Namibia. “Thanks to the generous support from UN-CERF and our collaboration with the Office of the Prime Minister and UN partners, namely the United Nations Children’s Fund (UNICEF) and the United Nations Population Fund (UNFPA), we reached tens of thousands of people with vital humanitarian assistance. But we also used this moment to invest in local capacity, strengthen partnerships, and helping communities build the resilience they need to face climate shocks.”

    The contribution from CERF allowed over 41,000 people (nearly 7000 households) to receive three rounds of food vouchers, enabling them to purchase essential items such as maize meal, canned fish and cooking oil from 25 participating retailers. This not only supported immediate needs, but also helped boost the local economy, laying the groundwork for longer-term resilience by supporting local businesses, creating employment opportunities, and strengthening local supply chains. At the same time, 22,000 children received hot and nutritious meals from 155 conveniently located soup kitchens.

    WFP remains committed to working closely with the Government of Namibia, UN agencies and partners to strengthen food systems, build community resilience and enhance emergency preparedness to future climate shocks.

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    About the World Food Programme

    The United Nations World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability, and prosperity for people recovering from conflict, disasters, and the impact of climate change.

    Follow us on Twitter; @wfp_media, @WFP_SAfrica, @WFPNamibia

    MIL OSI United Nations News

  • IMD forecasts heavy rainfall in Odisha, Jharkhand and Bengal; Delhi to see light showers till July 28

    Source: Government of India

    Source: Government of India (4)

    The India Meteorological Department (IMD) has forecast extremely heavy rainfall over several regions of the country due to a depression persisting over coastal West Bengal and the adjoining areas of the northwest Bay of Bengal and Bangladesh.

    The IMD said that monsoon conditions will remain active over central and eastern India and along the west coast and adjoining ghat regions over the next four to five days.

    Going forward, the IMD expects extremely heavy rainfall at isolated places over Odisha, Jharkhand, Gangetic West Bengal, and coastal Karnataka on July 25, continuing in Vidarbha, Chhattisgarh, Konkan, and the ghat areas of central Maharashtra on July 25 and 26.

    Western Madhya Pradesh will likely experience heavy rainfall on July 26 and 27, in eastern Madhya Pradesh on July 26 and eastern Rajasthan on July 27.

    Very heavy rainfall is also anticipated at isolated locations in Kerala, Mahe, Coastal Karnataka, and Madhya Pradesh from July 25 to 29.

    Similar warnings have been issued for Marathwada, Tamil Nadu, Mizoram, Tripura, Uttarakhand, East Rajasthan, West Uttar Pradesh, Arunachal Pradesh, and Meghalaya on different days during this period.

    In the past 24 hours, extremely heavy rainfall (measuring 21 cm or more) was recorded at isolated locations in the ghat areas of central Maharashtra.

    Several areas including Konkan, coastal and south interior Karnataka, Gangetic West Bengal, eastern Madhya Pradesh, Chhattisgarh, Odisha, Bihar, and Assam experienced heavy to very heavy rainfall (ranging from 7 to 20 cm).

    Additionally, heavy rainfall (between 7 and 11 cm) was observed at isolated places across East Rajasthan, West Uttar Pradesh, West Madhya Pradesh, Jharkhand, Vidarbha, Goa, Tamil Nadu, Kerala, and Telangana.

    Weather forecast for Delhi-NCR

    In Delhi-NCR, the weather is expected to remain partly to generally cloudy with chances of very light to light rain accompanied by thunderstorms or lightning until July 28.

    On Friday, maximum temperatures are likely to hover between 36°C and 38°C, with the mercury staying above normal by 1°C to 3°C. Winds are expected to blow from the northwest at speeds of 15–20 kmph in the afternoon, decreasing to 10–15 kmph by evening.

    On July 26, maximum and minimum temperatures are likely to be between 34°C and 36°C, and 27°C and 29°C respectively, with the maximum temperature staying near normal and the minimum slightly above normal.

    The trend will continue on July 27, with generally cloudy skies and light rain expected. Temperatures are predicted to range from 33°C and 35°C for the maximum and 26°C and 28°C for the minimum, with the day temperature likely to be slightly below normal. Winds will shift from the southwest to northwest throughout the day.

    On July 28, the maximum temperature is expected to drop further, settling between 31°C and 33°C, while the minimum will remain in the range of 26°C and 28°C. Light rain with thunderstorms is again forecast, accompanied by light winds predominantly from the west, shifting to the southeast by night.

  • MIL-OSI Africa: Benin: African Development Bank Approves Over $30 Million to Protect Farmers from Climate Shocks and Food Insecurity

    Source: APO

    The Board of Directors of the African Development Bank Group  (www.AfDB.org) has approved $30.25 million in financing for a groundbreaking climate protection and agricultural sector resilience program in Benin. Thanks to this approval, Beninese farmers, particularly those in northern Benin, will no longer have to fear losing their entire harvest during devastating droughts or sudden floods.

    This initiative will protect 150,000 smallholder farmers against climate shocks in a country where agriculture employs seven out of ten people but remains at the mercy of an increasingly unpredictable climate. The situation is particularly critical in the departments of Alibori and Atakora, where one in four farmers suffers from food insecurity, well above the national average.

    These northern regions face a double burden of climate challenges and spillover effects from Sahel instability, creating additional pressures through forced displacement and border closures with Niger. Climate projections indicate alarming future risks, with cotton production and maize yields expected to drop by 22% and 6.3% respectively, with potential economic losses estimated at approximately 201 billion CFA francs.

    “This investment represents our commitment to strengthening climate resilience in Benin’s agricultural sector while responding to the urgent needs of vulnerable farming communities,” said Robert Masumbuko, African Development Bank Country Representative in Benin. “By introducing innovative risk management tools and strengthening local capacities, we are helping farmers adapt to climate change while preventing conflicts and promoting social cohesion in fragile border areas.”

    The project strengthens the Beninese government’s efforts to establish agricultural insurance, whose pilot phase is managed by Benin’s National Fund for Agricultural Development (FNDA).

    It introduces innovative climate risk transfer mechanisms, including sovereign insurance coverage against droughts and floods via the African Risk Capacity, and agricultural micro- insurance for smallholders. These tools will improve farmers’ risk profiles with financial institutions, facilitating better access to credit and investment opportunities.

    Beyond insurance mechanisms, the initiative will strengthen institutional capacities for climate disaster management, deploy early warning systems with agrometeorological equipment, and promote climate-smart agricultural practices. The program specifically targets 30% youth participation and ensures 30% female representation among the 150,000 direct beneficiaries. Furthermore, special attention is given to social cohesion activities to support peaceful integration of displaced populations in host communities.

    The financing comes from multiple sources: $20 million from the “prevention” envelope of the Transition Support Facility, $5 million from the African Development Fund, $3 million from the ADRiFi multi-donor trust fund, and approximately $2.44 million in national counterpart contributions for insurance premiums.

    The project aligns with Benin’s National Development Plan 2018-2025 and its National Adaptation Plan 2022-2027, supporting the country’s agricultural transformation objectives while strengthening climate change resilience through innovative instruments such as insurance. Strategic partnerships with the World Food Programme, the World Bank, and bilateral donors such as Swiss and Luxembourg cooperations ensure comprehensive support for sustainable agricultural development, including the establishment of agricultural insurance in Benin.

    For Benin’s farming families, this financing represents hope for protected harvests, stable incomes, and a safer future for their children. For northern Benin communities, this project is a guarantee of stability and social cohesion in a strategic region of West Africa, and finally, for the Beninese state, the project ensures financial resilience against increasingly recurrent disaster risks.

    The African Development Bank Group remains committed to supporting Africa’s agricultural transformation through innovative climate adaptation solutions that protect vulnerable communities while promoting sustainable development and regional stability.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Media Contact:
    Natalie Nkembuh
    Communication and External Relations Department
    media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s leading development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Represented in 41 African countries, with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member countries. For more information: www.AfDB.org

    Media files

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    MIL OSI Africa

  • MIL-OSI United Kingdom: Statement on Australia-UK Ministerial Consultations (AUKMIN) July 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    Statement on Australia-UK Ministerial Consultations (AUKMIN) July 2025

    Joint statement from UK and Australia on the Australia-UK Ministerial Consultations (AUKMIN) July 2025

    1 . On 25 July 2025, the Minister for Foreign Affairs Senator the Hon Penny Wong and the Deputy Prime Minister and Minister for Defence the Hon Richard Marles MP hosted the Secretary of State for Foreign, Commonwealth and Development Affairs the Rt Hon David Lammy MP and the Secretary of State for Defence the Rt Hon John Healey MP for the Australia-UK Ministerial Consultations (AUKMIN) in Sydney.

    2 . Ministers noted the global security environment had become more dangerous and unpredictable since they last met in December 2024. They recognised the elevated importance of the enduring Australia-UK relationship in responding together to address these challenges.

    3 . Ministers agreed to significantly increase their cooperation to bolster Australia and the UK’s defence and national security, enhance economic security and mitigate and address the impacts of climate change. Ministers agreed on the enduring importance of the UK-Australia relationship in delivering economic growth to our peoples and globally.

    4 . Ministers underscored the role Australia and the UK play in upholding the rules, norms and institutions, including respect for universal human rights, that underpin global prosperity and security, and noted their deep, clear and longstanding commitment to the multilateral system. They committed to consider joint initiatives and advocacy on multilateral reform, including on the UN Secretary-General’s UN80 Initiative, to ensure the multilateral system is able to continue to deliver on critical core functions and mandates.

    Closer cooperation in the Indo-Pacific

    5 . Ministers reaffirmed that the security, resilience and prosperity of the Indo-Pacific and Euro-Atlantic regions are interconnected. They committed to continue to expand efforts to safeguard internationally agreed rules and norms and respect for sovereignty. Ministers agreed on the need to shape a world characterised by adherence to rules and norms, rather than power or coercion.

    6 . Ministers committed to further strengthen cooperation, bilaterally and with regional partners, to ensure a peaceful, stable and prosperous Indo-Pacific. Ministers agreed the UK and Australia’s enduring engagement in the Indo-Pacific was important to shaping a favourable strategic balance in the region.

    7 . Recognising the deteriorating geostrategic environment, Ministers emphasised the need for all countries to manage strategic competition responsibly, and the importance of dialogue and practical measures to reduce the risks of miscalculation, escalation and conflict.

    8 . Ministers reiterated their strong opposition to coercive or destabilising activities by China’s Coast Guard, naval vessels and maritime militia in the South China Sea, including sideswiping, water cannoning and close manoeuvres that have resulted in injuries, endangered lives and created risks of miscalculation and escalation. Ministers agreed to continue cooperating to support freedom of navigation and overflight in the region, including through participation in joint activities. They also reiterated their concern about the situation in the East China Sea.

    9 . Ministers emphasised the obligation of all states to adhere to international law, particularly the United Nations Convention on the Law of the Sea (UNCLOS), which provides the comprehensive legal framework for all activities in the ocean and seas. They agreed that maritime disputes must be resolved peacefully and in accordance with international law. Ministers reaffirmed that the 2016 South China Sea Arbitral Tribunal decision is final and binding on the parties. They emphasised any South China Sea Code of Conduct must be consistent with UNCLOS and not undermine the rights of States under international law.

    10 . Ministers agreed on the critical importance of peace and stability across the Taiwan Strait. They called for the peaceful resolution of cross-Strait issues through dialogue and not through the threat or use of force or coercion, and reaffirmed their opposition to unilateral changes to the status quo. They expressed concern at China’s destabilising military exercises around Taiwan. Ministers recognised that the international community benefits from the expertise of the people of Taiwan and committed to support Taiwan’s meaningful participation in international organisations where statehood is not a pre-requisite or as an observer or guest where it is. They reiterated their will to continue to deepen relations with Taiwan in the economic, trade, scientific, technological, and cultural fields.

    11 . Ministers strongly condemned the DPRK’s ongoing nuclear and ballistic missile programs and called for the complete, verifiable and irreversible denuclearisation of the DPRK. Ministers also expressed grave concern over the DPRK’s malicious cyber activity, including cryptocurrency theft and use of workers abroad to fund the DPRK’s unlawful weapons of mass destruction and ballistic missile programs.

    12 . Ministers emphasised their commitment to ASEAN centrality and recognised the critical role of ASEAN-led architecture in promoting peace, stability and prosperity in the region. They reaffirmed their ongoing commitment to support the practical implementation of the ASEAN Outlook on the Indo-Pacific.

    13 . Ministers underscored their commitment to deepen engagement on trade and investment diversification in Southeast Asia, including through Invested: Australia’s Southeast Asia Economic Strategy to 2040, Australia’s AUD 2 billion Southeast Asian Investment Financing Facility and dedicated Southeast Asia Investment Deal Teams, and the UK’s enhanced economic engagement. Ministers agreed to continue to strengthen coordination on clean energy transition in Southeast Asia and cooperation to bolster the region’s economic resilience through the mobilisation of private finance for climate objectives and green infrastructure, exploring collaboration on financing of low-carbon energy projects, and coordination of support to the ASEAN Power Grid.

    14 . Ministers reaffirmed their commitment to combat people smuggling, human trafficking and modern slavery in South and Southeast Asia, recognising that women and girls were most impacted, with a focus on trafficking into scam centres.

    15 . Ministers reiterated their commitment to the Indian Ocean Rim Association (IORA) as the premier ministerial-level forum in the Indian Ocean region. They agreed to continue collaboration on shared priorities in the Indian Ocean, including maritime security.

    16 . Ministers reiterated their serious concern at the deepening humanitarian crisis and escalating violence in Myanmar, compounded by the devastating earthquake in March. They strongly condemned the Myanmar regime’s violent oppression of its people, including the continued bombardment of civilian infrastructure. They called for all parties to prioritise the protection of civilians. They called on the regime to immediately cease violence, release those arbitrarily detained, allow safe and unimpeded humanitarian access, and return Myanmar to the path of inclusive democracy. Ministers reiterated their support for ASEAN’s efforts to resolve the crisis, including through the Five Point Consensus and the work of the ASEAN Special Envoy and UN Special Envoy. They welcomed ASEAN leaders’ recent call for an extended and expanded ceasefire, and inclusive national dialogue.

    17 . Ministers highlighted their commitment to continue to work with Pacific island countries through existing regional architecture, recognising the centrality of the Pacific Islands Forum. They agreed on the importance of pursuing Pacific priorities as set out in the 2050 Strategy for the Blue Pacific Continent. Ministers joined Pacific partner calls for increased access to climate finance, including further support to Pacific-owned and led mechanisms such as the Pacific Resilience Facility. Ministers welcomed ongoing reform of multilateral climate funds, including the Green Climate Fund (GCF), to provide better outcomes for Pacific island countries, noting encouraging progress made regarding the accreditation of Direct Access Entities and GCF regional presence. Ministers welcomed the UK’s continued contributions to Pacific security through their assistance in the removal of explosive remnants of war via their participation in the Australian-led Operation Render Safe. Ministers agreed to continue to work together to advance transparent and high-quality development in line with the Pacific Quality Infrastructure Principles (PQIPs), including through the Pacific Business Club. Ministers committed to work collaboratively on respective approaches to the Multilateral Development Banks (MDBs) to encourage reform consistent with the PQIPs. Ministers underscored our shared commitment to cyber coordination and capacity-building in the Pacific including through support to the inaugural Pacific Cyber Week in August 2025, a concept endorsed by the Pacific Islands Forum. Ministers emphasised the importance of sharing expertise and strengthening people-to-people links for a more cyber-resilient Pacific.

    Ambitious partners, facing global challenges together

    18 . Ministers unequivocally condemned Russia’s full-scale invasion of Ukraine and called on Russia to immediately withdraw its troops from Ukraine’s internationally recognised territory, and adhere fully to its obligations under international law, including in relation to the protection of civilians and treatment of prisoners of war. They reiterated their commitment to making sure that Ukraine gets the military and financial support it needs to defend itself in the fight now and agreed to step up action against Russia’s war machine. They emphasised the importance of taking further action against Russia’s shadow fleet, acknowledging the sanctions both countries had imposed in this regard. They also called on Russia to immediately cease their illegal deportation of Ukrainian children and reunify those already displaced with their families and guardians in Ukraine.

    19 . Ministers reiterated their deep concerns about the role of third countries in supporting Russia’s illegal war in Ukraine and the associated impact for the security of the Indo-Pacific. They called on China to prevent its companies from supplying dual-use components to Russia’s war effort, and exercise its influence with Russia to stop Moscow’s military aggression and enter negotiations to end the war in good faith. Ministers strongly condemned the DPRK’s support for Russia through the supply of munitions and deployment of DPRK personnel to enable Russia’s war efforts. Ministers called on Iran to cease all support for Russia’s illegal war against Ukraine and halt the transfer of ballistic missiles, UAVs and related technology.

    20 . Ministers agreed deepening military cooperation between Russia and the DPRK was a dangerous expansion of Russia’s war that has significant implications for security in the Indo-Pacific region. They expressed deep concerns about any political, military or economic support Russia may be providing to the DPRK’s nuclear and ballistic missile programs. Ministers affirmed their commitment to cooperating with international partners to strengthen efforts to hold the DPRK to account for violations and evasions of UN Council Resolutions (UNSCRs) including as founding members of the Multilateral Sanctions Monitoring Team (MSMT). Ministers acknowledged the release of the MSMT’s first report, which shines a light on unlawful DPRK-Russia military cooperation including arms transfers and Russia’s training of DPRK troops. Ministers urged all UN Member States to abide by their international obligations under the UNSCRs to implement sanctions, including the prohibition on the transfer or procurement of arms and related material to or from the DPRK.

    21 . Ministers called on Iran and Israel to adhere to the ceasefire and urged Iran to resume negotiations with the US. Ministers stated their determination that Iran must never develop a nuclear weapon. It is essential that Iran act promptly to return to full compliance with its safeguards obligations, cooperate fully with the International Atomic Energy Agency, and refrain from actions that would compromise efforts to address the security situation in the Middle East. Ministers condemned Iran’s unjust detention of foreign nationals and raised ongoing concerns over the human rights situation in Iran, particularly the escalation of the use of the death penalty as a political tool during the 12-day conflict, and the ongoing repression of women, girls and human rights defenders.

    22 . Ministers reiterated their support for Israel’s security and condemnation of Hamas’ horrific attacks on 7 October 2023, and underlined that Israeli actions must abide by international law. They called for an immediate ceasefire in Gaza, an end to Israeli blocks on aid, and the urgent and unconditional release of all hostages.

    23 . Ministers reaffirmed their conviction that an immediate and sustained ceasefire, alongside urgent steps towards a credible and irreversible pathway to a two-state solution are the only ways to deliver lasting peace, security and stability for Israelis, Palestinians and the wider region.

    24 . Ministers expressed grave concerns at the horrific and intolerable situation in Gaza. They continue to be appalled by the immense suffering of civilians, including Israel’s blocking of essential aid. They reiterated their call for Israel to immediately enable full, safe and unhindered access for UN agencies and humanitarian organisations to work independently and impartially to save lives, end the suffering and deliver dignity. Ministers also condemned settler violence in the West Bank, which has led to deaths of Palestinian civilians and the displacement of whole communities, and expressed opposition to any attempt to expand Israel’s illegal settlements.

    25 . Ministers expressed their deep concern for the safety and security of humanitarian personnel working in conflict settings around the world. They reaffirmed their commitment to finalise a Declaration for the Protection of Humanitarian Personnel and implement practical actions to ensure greater respect for and protection of humanitarian personnel. Ministers also called on all countries to endorse the Declaration once launched and to reaffirm their responsibility to uphold humanitarian principles and ensure respect for international humanitarian law. Ministers discussed the essential role of the humanitarian system which is critical to saving lives and livelihoods and avoiding mass displacement. Ministers noted that the core work of the UN, the Red Cross and Red Crescent Movement, and international, national and local humanitarian organisations, must be preserved. Ministers also reiterated support for the Emergency Relief Coordinator’s humanitarian reset.

    26 . Ministers committed to continue close collaboration on protecting and promoting gender equality internationally and countering rollback of rights, including through Australia-UK Strategic Dialogues on Gender Equality and progressing subsequent agreed commitments, such as the UK-Australia Gender Based Violence MoU.

    27 . Ministers reaffirmed their commitment to the full implementation of the Women Peace and Security (WPS) agenda. They acknowledged the 25th anniversary of UN Security Council Resolution 1325 and agreed to continue working together on implementing the WPS agenda, promoting the full, equal, meaningful and safe participation and leadership of women in conflict prevention, mediation and resolution, and working together on preventing conflict-related sexual violence and ending impunity.

    28 . Ministers reiterated their serious shared concerns about human rights violations in China, including the persecution and arbitrary detention of Uyghurs and Tibetans and the erosion of their religious, cultural, education and linguistic rights and freedoms. They expressed their deep concern with the transfer of a cohort of 40 Uyghurs to China against their will in February this year. Ministers shared grave concerns about the ongoing systemic erosion of Hong Kong’s autonomy, freedom, rights and democratic processes, including through the imposition of national security legislation and the prosecution of individuals such as British national Jimmy Lai and Australian citizen Gordon Ng. They shared their deep concern over the actions of Hong Kong authorities in targeting pro-democracy activists both within Hong Kong and overseas, including in Australia and the UK.

    29 . Ministers expressed growing concern over foreign information manipulation and interference (FIMI) and attempts to undermine security and democratic institutions and processes. They committed to working closely to analyse and respond to FIMI in order to raise the costs for malign actors, and build collective responses to FIMI, including in multilateral fora, and to promote resilient, healthy, open and fact-based environments.

    30 . Ministers acknowledged the unprecedented opportunities presented by critical and emerging technologies, including artificial intelligence, and the need to mitigate harms to build trust and confidence. They committed to collaborate on reciprocal information sharing on advanced AI capabilities and research, including between Australian agencies and the UK AI Security Institute, and working together to capture the opportunities of AI through the bilateral Cyber and Critical Technology Partnership.

    31 . Australia welcomed the UK’s new Laboratory for AI Security Research (LASR) and looked forward to exploring the opportunities for cooperation between our nations. The lab will pull together our world-class industry, academia and government agencies to ensure we reap the benefits of AI, while detecting, disrupting and deterring adversaries who would use it to undermine our national security and economic prosperity.

    32 . Ministers expressed shared concern over the persistent threat of malicious cyber activities impacting our societies and economies and agreed to continue to work closely on leveraging all tools of deterrence, including the use of attributions and sanctions to impose reputational, financial costs and travel bans on these actors. Our respective statements calling out the egregious activity of Russia’s GRU on Friday 18 July is a good example of such cooperation.

    33 . The UK is pleased to welcome Australia as a partner to the Common Good Cyber Fund, designed to strengthen cybersecurity for individuals most at risk from digital transnational repression. The Fund was first launched by the Prime Ministers of the UK and Canada under the G7 Rapid Response Mechanism. This participation underscores the growing commitment among G7 partners and like-minded nations to counter this threat and to deliver support to those who may be targeted.

    34 . Ministers reiterated their commitment to the Commonwealth as a unique platform for cross-regional dialogue and cooperation. They noted the importance of the Commonwealth in elevating the voices of small developing states on issues of global importance. Ministers took note of the important role of the Commonwealth Small States Offices in New York and Geneva, and committed to looking into options for expansion of this offer.

    Building shared defence capability

    35 . Ministers welcomed the continued growth in the bilateral defence relationship including the deployment of a British Carrier Strike Group to Australia for Exercise Talisman Sabre 2025 as part of an Indo-Pacific deployment. HMS Prince of Wales is the first UK aircraft carrier to visit Australia since 1997 and the deployment demonstrates the UK’s ongoing commitment to increase interoperability with Australia in the Indo-Pacific following significant contributions to Exercises Pitch Black and Predator’s Run in 2024. Ministers look forward to future opportunities in Australia and the wider region, including leveraging the Royal Navy’s (RN) offshore patrol vessels persistently deployed in the Indo-Pacific.

    36 . Ministers also welcomed the success of the inaugural Australia-UK Staff Level Meeting, with the second meeting set to take place in Australia later this year. This forum will continue to progress joint strategic and operational objectives, supporting the evolution of the bilateral relationship.

    37 . Ministers reaffirmed their enduring commitment to the generational AUKUS partnership, which is supporting security and stability in the Indo-Pacific and beyond, enhancing our collective deterrence against shared threats. This capability and technology sharing partnership will deliver military advantage to deter adversaries and promote regional security. The partnership also provides new pathways for innovation, boosting interoperability between partners and strengthening our combined defence industrial base.

    38 . Ministers announced their intent to sign a bilateral AUKUS treaty between the UK and Australia on Saturday, 26 July. The Treaty is a landmark agreement, which will underpin the next 50 years of UK-Australian bilateral cooperation under AUKUS Pillar I.

    39 . The Treaty will enable comprehensive cooperation on the design, build, operation, sustainment, and disposal of our SSN-AUKUS submarines; support the development of the personnel, workforce, infrastructure and regulatory systems required for Australia’s nuclear-powered submarine program; and realise increased port visits and the rotational presence of a UK Astute Class submarine at HMAS Stirling under Submarine Rotational Force – West.

    40 . The Treaty will enable our two countries to deliver a cutting-edge undersea capability through the SSN-AUKUS, in conjunction with our partner the US. Through working together we are supporting stability and security in the Indo-Pacific and beyond for decades to come, creating thousands of jobs, strengthening our economies and supply chains, building our respective submarine industrial bases and providing new opportunities for industry partners.

    41 . Ministers welcomed the significant progress made towards delivering Pillar I, including the entry into force of the AUKUS Naval Nuclear Propulsion Agreement between Australia, the UK and US on 17 January 2025 and the progress in design of the SSN-AUKUS submarines that will be operated by the RN and the Royal Australian Navy (RAN).

    42 . Ministers welcomed the UK’s June commitment, in its Strategic Defence Review, to build up to 12 SSN-A submarines, and continuous submarine production through investments in Barrow and Raynesway that will allow the UK to produce a submarine every 18 months, and recognised the UK’s additional investment to transform the UK’s submarine industrial base.

    43 . Ministers reaffirmed Australia and the UK’s strong and ongoing commitment to the delivery of the AUKUS Optimal Pathway. Reflecting the UK’s enduring dedication to this partnership, and long-standing engagement in the Indo-Pacific, Ministers welcomed the planned deployment of a RN submarine to undertake a port visit to Australia in 2026, delivering a varied programme of operational and engagement activities. The visit will support preparations for the establishment of the Submarine Rotational Force – West from as early as 2027, and represents another step forward on the shared path towards the delivery of SSN-AUKUS – ensuring our navies are ready, integrated, and capable of operating together to promote security and stability in the region.

    44 . Ministers underscored the importance of ensuring Australia’s acquisition of a conventionally-armed, nuclear-powered submarine capability sets the highest non-proliferation standard, and endorsed continued close engagement with the International Atomic Energy Agency.

    45 . Ministers affirmed their commitment under AUKUS Pillar II to continue to deliver tangible advanced capabilities to our defence forces and welcomed progress to date. By leveraging advanced technologies, our forces become more than the sum of their parts. They underlined the importance of Pillar II in streamlining capability acquisition and strengthening our defence innovation and industry sectors.

    46 . As part of Talisman Sabre 25, AUKUS partners participated in Maritime Big Play activities as well as groundbreaking AI and undersea warfare trials. The partners tested the remote operation of the UK’s Extra Large Unmanned Underwater Vehicle, Excalibur, controlled from Australia while operating in UK waters. The exercise once again accelerated interoperability between our forces and the accelerated integration of remote and autonomous systems.

    47 . Ministers noted the successful UK E-7A Seedcorn training program in Australia. The program, which is set to conclude in December 2025, was established to preserve a core of Airborne Early Warning and Control expertise within the Royal Air Force (RAF) and to lay a strong foundation for the introduction of the UK’s own Wedgetail aircraft. Thanks to the exceptional support of the Royal Australian Air Force (RAAF), since its inception in 2018, 30 RAF personnel – including pilots, mission crew, engineer officers, aircraft technicians, and operations specialists – have benefited from world-class training and exposure to the Wedgetail capability.

    48 . Ministers welcomed the upcoming deployment of a RAAF E-7A Wedgetail to Europe in August under Operation Kudu to help protect vital supply lines for humanitarian aid and military assistance into Ukraine. Delivering upon the vision for true interchangeability detailed in the Wedgetail Trilateral Joint Vision Statement in 2023, this deployment will see the Wedgetail jointly crewed by Australian and British service members in a live operational setting.  Ministers also welcomed Australia’s decision to extend support for training Ukrainian personnel under Operation Interflex, through Operation Kudu, to the end of 2026. Australia and the UK will also continue to work closely together to share insights and observations from the conflict.

    49 . Ministers reiterated their nations’ continued investment in the Five Power Defence Arrangements (FPDA) as a unique multilateral arrangement that plays a constructive role in building habits of cooperation and enhancing the warfighting capabilities of its members. They look forward to Exercise Bersama Lima 2025 which will feature high-end warfighting serials and next-generation assets such as Australia’s F-35s and the UK’s Carrier Strike Group.

    50 . Ministers affirmed their shared ambition to conduct a bilateral defence industry dialogue at both the Senior Official and Ministerial levels, providing a forum to deepen defence industry collaboration, enhance joint capability development, and cooperate on procurement reform to ensure improved efficiency in capability acquisition and sustainment.

    51 . Ministers agreed to deepen cooperation on using Active Electronically Scanned Array (AESA) radar technology in both nations. This includes exploring the potential of using Australian AESA radar technologies for UK integrated air and missile defence applications. They agreed to undertake a series of targeted risk reduction activities in the near future to inform future decisions.”

    52 . Ministers agreed to progress personnel exchanges that support the future combat effectiveness of the Australian Hunter Class and British Type 26 Frigates. To support the introduction of these platforms into service, the RAN and RN will undertake a series of maritime platform familiarisation activities that enable our people to gain experience in critical capabilities, including underwater and above water weapon systems, primary acoustical intelligence analysis, and overall signature management.

    53 . Ministers agreed to strengthen their sovereign defence industries through closer collaboration between the UK’s Complex Weapons Pipeline and Australia’s Guided Weapons and Explosive Ordnance Enterprise. As a first step the Ministers announced a collaborative effort to develop modular, low cost components for next-generation weapon systems.

    54 . Ministers acknowledged the shared legacy and the contribution of veterans to the bilateral relationship. They reaffirmed their commitment to identify avenues for closer collaboration on improving veterans’ health and transition services.

    Partnering on trade, climate and energy

    55 . Ministers agreed to work closely to safeguard and strengthen the role that free and fair trade and the rules-based multilateral trading system plays in economic prosperity and building resilience against economic shocks.

    56 . Ministers reaffirmed the importance of the rules-based multilateral trading system, with the World Trade Organization (WTO) at its core, to economic security and prosperity. Ministers agreed to deepen cooperation to reform and reposition the Organization, and the broader global trading system, to meet the trade challenges of the new economic and geopolitical environment. Ministers agreed to continue working together to overcome blockages in multilateral rulemaking, including by working in smaller and more agile plurilateral groupings to address contemporary challenges, such as non-market policies and practices, which could complement ongoing multilateral efforts. They welcomed cooperation on plurilateral rulemaking, including efforts to have the E-Commerce Agreement incorporated into WTO architecture and brought into force as soon as possible. They reaffirmed the importance of restoring a fully-functioning dispute settlement system as soon as possible, welcoming the UK’s decision to join the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) while our countries work to fix the system.

    57 . Ministers welcomed the entry into force of the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in December 2024 and welcomed Australia as 2025 Chair. Ministers affirmed the need to work cooperatively together to ensure the CPTPP remains high standard and fit-for-purpose in addressing evolving challenges through continued progress on the CPTPP General Review and expansion of the membership. They looked forward to planned CPTPP trade and investment dialogues with the EU and with ASEAN.

    58 . Ministers welcomed the second meeting of the Australia-United Kingdom Free Trade Agreement (A-UKFTA) Joint Committee on 3 June which celebrated the strong and growing trade and investment relationship between the UK and Australia and the strong uptake of the agreement’s benefits.

    59 . Ministers welcomed close engagement on economic security under the annual United Kingdom-Australia Economic Security Dialogue, noting that its establishment by AUKMIN in 2023 was timely in preparing for future needs. They reflected on the closer integration of our analysis capabilities and committed to a joint-funded track 1.5 to generate practical insights and informal policy dialogue that will inform our joint economic security efforts.

    60 . As both countries continue to develop their bilateral partnership through the UK-Australia FTA, the Economic Security Dialogue, and other fora, Ministers committed to deepening cooperation in key sectors of mutual interest. Ministers view this as an opportunity to explore new areas of collaboration and share best practices in the interests of boosting bilateral trade and investment, facilitating innovation and research, and supporting our mutual economic security and resilience. This year, officials in relevant departments will compare approaches with the aim to identify areas of common interest or complementary strength and discuss further opportunities for related cooperation. This may include initiatives to advance supply chain resilience, frontier research, investment promotion, public finance cooperation, and effective regulation.

    61 . Ministers affirmed the calls in the Global Stocktake under the Paris Agreement for countries to come forward in their next NDCs with ambitious emissions reduction targets aligned with keeping 1.5 degrees within reach. In that context, Ministers recognised the immense economic opportunities in ambitious climate action and a rapid transition to renewable energy. Ministers welcomed the UK’s ambitious NDC and looked forward to Australia’s NDC and Net-Zero Plan. Ministers further welcomed the report released by the UN Secretary General titled ‘Seizing the Moment of Opportunity: Supercharging the new energy era of renewables, efficiency, and electrification’ that highlighted the compelling economic case for the rapidly declining cost of renewable energy, and the rapidly growing role of the clean energy economy in powering jobs and economic growth. Ministers affirmed their determination to fulfil multilateral climate commitments and reiterated the importance of reforming the finance system and improving access to climate finance for developing countries. Ministers recommitted to building nature-positive economies to support a central theme of Brazil’s COP Presidency. The UK reiterated its support for Australia’s bid to host COP31 in partnership with the Pacific and expressed the hope that a decision would soon be reached. Ministers welcomed UK sharing its hosting experience and agreed to explore secondments to support COP31 planning. The UK and Australia welcome the close collaboration between our countries in the Intergovernmental Negotiating Committee (INC) negotiations for an international legally binding instrument on plastic pollution, including through our shared membership of the High Ambition Coalition to End Plastic Pollution. At this critical juncture ahead of INC-5.2, the final opportunity to secure an agreement, we call upon all members of the INC to recommit to working constructively to achieve an effective comprehensive agreement that addresses the full lifecycle of plastic. We recognise that Commonwealth countries are particularly affected by plastic pollution and in that regard we renew our commitment to collaborating through the Commonwealth Clean Ocean Alliance, to tackle plastic pollution in the commonwealth. Ministers pledged to deepen collaboration through the UK-Australia Climate and Clean Energy Partnership.

    62 . Ministers welcomed close cooperation to support the development of resilient critical mineral supply chains governed by market principles. This includes developing a roadmap to promote a standards-based market to reflect the real costs of responsible production, processing and trade of critical minerals as agreed at the recent G7 meeting on 17 June. Ministers agreed upon the importance of the sustainable and responsible extraction and processing of critical minerals for the energy transition, and committed to working together on solutions. These include the new Critical Minerals Supply Finance developed by UK Export Finance (UKEF) which can provide finance support to overseas critical minerals projects that supply the UK’s high-growth sectors. UKEF has up to £5bn in finance support available for projects in Australia and will work closely with Export Finance Australia. Ministers also undertook to ensure the UK is consulted on the design and implementation of Australia’s Critical Minerals Strategic Reserve.

    63 . Ministers discussed the leading roles being played by Australia and the UK in the full and effective implementation of the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement welcoming in particular Australia’s role as Co-Chair of the Preparatory Commission. Ministers were encouraged by each country’s progress towards ratification of the treaty, which is a landmark agreement for protection of the world’s ocean.

    64 . Ministers discussed the increasing geostrategic, climatic, and resource pressures on the Antarctic and Southern Ocean region and reaffirmed their shared and long-standing commitment to the Antarctic Treaty System (ATS). Ministers committed to upholding together the ATS rules and norms of peaceful use, scientific research, international cooperation and environmental protection, and to deepen understanding of the impact of climate change on the oceans and the world through Antarctic research including in the context of the International Polar Year of 2032/33. Ministers welcomed the United Kingdom’s chairing of CCAMLR for 2024-5 and 2025-6.

    65 . Ministers agreed on the importance of ensuring all children have the right to grow up in a safe and nurturing family environment. Ministers recognised the transformative impact on children’s health, capacity to learn and economic prospects that growing up in a family-based environment can have. Ministers acknowledged the UK’s Global Campaign on Children’s Care Reform and agreed to work together to drive international awareness and demonstrate their commitment to children’s care reform.

    66 . Ministers reiterated their commitment to upholding shared values and continuing to invest in sustainable development, gender equality, disability equity and social inclusion, which underpin global prosperity. To support sustainable development, Ministers agreed to deepen cooperation with emerging donors of development assistance, to diversify funding, enhance development effectiveness, share lessons and build trust and transparency with partners. Ministers committed to work together to deliver sustainable solutions for Small Island Developing States (SIDS), recognising their unique vulnerabilities and to ensure meaningful engagement in international processes, including ODA graduation.

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    Updates to this page

    Published 25 July 2025

    MIL OSI United Kingdom

  • MIL-OSI Europe: Climate – Advisory opinion by the International Court of Justice (ICJ) on Obligations of States in respect of Climate Change (July 24, 2025) (24.07.25)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    On March 29, 2023, the UN General Assembly requested, via a resolution co-sponsored by all EU Member States, an advisory opinion from the International Court of Justice concerning the obligations of States in respect of climate change. Questions submitted to the Court for their opinion dealt with States’ international obligations with respect to the protection of the climate system and the environment from anthropogenic greenhouse gas emissions and the ensuing legal consequences for States.

    Along with some 100 States and international organizations, France took part in this advisory process by filing written statements with the Court and participating in arguments. France defended an ambitious reading of the Paris Climate Agreement and called on all States to abide by their obligations to protect the climate system and other environmental components.

    France takes note of the opinion issued by the Court on July 23, which marks an end to these historic proceedings. This landmark opinion will be studied very closely.

    France reaffirms its unwavering commitment to the ICJ. It will continue working ambitiously to achieve its climate goals and to support its partners.

    MIL OSI Europe News

  • MIL-OSI Banking: BSTDB Backs Renewable Energy Expansion in Bulgaria and Romania with €40 Million Loan to Renalfa IPP

    Source: Black Sea Trade and Development Bank

    Press Release | 24-Jul-2025

    Joint €315 million international financing to accelerate clean energy investments

    The Black Sea Trade and Development Bank (BSTDB) is providing up to €40 million loan to support the development, hybridization, and expansion of Renalfa IPP’s renewable energy assets in Bulgaria and Romania. The financing forms part of a broader €315 million financing package secured from leading development finance institutions and commercial banks, including the European Bank for Reconstruction and Development (EBRD), Kommunalkredit Austria AG, OTP Hungary, NLB Slovenia, and UniCredit BulBank.

    The funds will enable Renalfa IPP to upgrade its portfolio of renewable energy and battery energy storage systems (BESS), contributing to the decarbonization of Bulgaria’s and Romania’s power systems. The project will help diversify the countries’ energy mix, enhance energy security, and accelerate their transition to low-carbon economies. The BSTDB financing will also help catalyze further private and public sector investments, generate employment during both the construction and operation phases, and create long-term value for local communities. The operation represents a major step forward in the region’s transition toward cleaner, more secure, and sustainable energy systems.

    “This investment marks an important milestone in BSTDB’s efforts to support the clean energy transition in the Black Sea region,” said Dr. Serhat Köksal, BSTDB President.  “By backing the development of solar, wind, and battery storage infrastructure in Bulgaria and Romania, we are strengthening the resilience and competitiveness of their electricity sectors. The operation will play a key role in addressing the countries’ growing energy demands, while also reducing carbon emissions and supporting their commitments to climate goals. Moreover, it aligns closely with BSTDB’s Climate Strategy and reinforces our commitment to financing sustainable infrastructure and regional growth.”

    Ivo Prokopiev, CEO of Renalfa IPP, commented: “The successful raising of growth funding is an important milestone for Renalfa IPP and for our whole group. It proves the competitiveness of our integrated model for developing, investing and operating large hybrid assets. The early implementation of long duration co-located BESS allows Renalfa IPP to start offering green baseload products to market in CEE for the first time. We are proud, together with our partners from RGreen, to be on the frontier of energy transition not only in CEE, but in the whole EU.”

    Renalfa IPP is a leading independent power producer based in Vienna, specializing in the development, construction, and operation of renewable energy projects across Central and Eastern Europe. As an established platform with strong business model capabilities, Renalfa IPP works across the full value chains from project origination to asset operation. The company focuses on solar, wind, and Battery Energy Storage Systems (BESS), supporting the region’s transition to a sustainable and low-carbon energy future. Renalfa IPP is a joint venture between Renalfa Solarpro Group and RGREEN INVEST. 

    Renalfa Solarpro Group is a Vienna based clean energy and e-mobility investment group with a focus on renewable energy generation assets. Renalfa Solarpro is an established platform with strong business model capabilities, working across the full solar PV, wind, and BESS value chains from project origination to asset operation.

    RGREEN INVEST is an independent French mission-driven investment management company committed to helping investors channel their capital towards financing projects dedicated to accelerating the energy transition, mitigation, and adaptation to climate change.

    https://www.renalfa.com

    https://www.rgreeninvest.com

     

    The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

     

    Contact: Haroula Christodoulou

    : @BSTDB

    MIL OSI Global Banks

  • Storms dump nearly a year of rain in northern China, 19,000 evacuated

    Source: Government of India

    Source: Government of India (4)

    Storms in northern China have poured nearly a year’s rainfall on the city of Baoding, forcing more than 19,000 people out of their homes, the national forecaster said on Friday.

    Rainfall in Yi, in the western part of Baoding, reached as much as 447.4 mm (17.6 inches) in the 24 hours to early Friday morning, and records were reset at a number of weather stations in Hebei province, which Baoding is part of.

    Official records show that annual rainfall in Baoding averaged above 500 mm.

    A total of 19,453 people from 6,171 households were evacuated, the China Meteorological Administration (CMA) said in a social media post.

    The forecaster did not mention where the residents were moved to but shared a short clip showing two policemen in neon rain jackets boot-deep on a waterlogged street as the rain poured at night.

    The forecaster compared the amount of precipitation to the exceptional rainfall brought by the powerful Typhoon Doksuri to the Hai River basin in 2023, which inundated the capital Beijing with rains unseen since records began 140 years ago.

    The Hai River basin includes Beijing, Hebei province and the big port city of Tianjin.

    Hebei recorded 640.3 mm in annual rainfall last year, 26.6% more than a decades-long average, according to CMA’s 2024 climate bulletin on the province.

    The report said Hebei has been recording consecutive above-average annual precipitation since 2020.

    Last summer, Baoding, together with neighbouring cities Zhangjiakou, Langfang, Xiongan and Cangzhou had 40% more than the usual seasonal precipitation, with some localised areas within Baoding recording 80% more rains, the report showed.

    The intensifying rainfall forms part of the broader pattern of extreme weather across China due to the East Asian monsoon, which has caused disruptions in the world’s second-largest economy.

    Baoding maintained a red alert for heavy rains on Friday morning while Hebei upgraded its emergency response preparedness.

    Chinese authorities are watchful of extreme rainfall and severe flooding, which meteorologists link to climate change, as they challenge China’s ageing flood defences, threaten to displace millions and wreak havoc on a $2.8 trillion agricultural sector.

    (Reuters)

  • Storms dump nearly a year of rain in northern China, 19,000 evacuated

    Source: Government of India

    Source: Government of India (4)

    Storms in northern China have poured nearly a year’s rainfall on the city of Baoding, forcing more than 19,000 people out of their homes, the national forecaster said on Friday.

    Rainfall in Yi, in the western part of Baoding, reached as much as 447.4 mm (17.6 inches) in the 24 hours to early Friday morning, and records were reset at a number of weather stations in Hebei province, which Baoding is part of.

    Official records show that annual rainfall in Baoding averaged above 500 mm.

    A total of 19,453 people from 6,171 households were evacuated, the China Meteorological Administration (CMA) said in a social media post.

    The forecaster did not mention where the residents were moved to but shared a short clip showing two policemen in neon rain jackets boot-deep on a waterlogged street as the rain poured at night.

    The forecaster compared the amount of precipitation to the exceptional rainfall brought by the powerful Typhoon Doksuri to the Hai River basin in 2023, which inundated the capital Beijing with rains unseen since records began 140 years ago.

    The Hai River basin includes Beijing, Hebei province and the big port city of Tianjin.

    Hebei recorded 640.3 mm in annual rainfall last year, 26.6% more than a decades-long average, according to CMA’s 2024 climate bulletin on the province.

    The report said Hebei has been recording consecutive above-average annual precipitation since 2020.

    Last summer, Baoding, together with neighbouring cities Zhangjiakou, Langfang, Xiongan and Cangzhou had 40% more than the usual seasonal precipitation, with some localised areas within Baoding recording 80% more rains, the report showed.

    The intensifying rainfall forms part of the broader pattern of extreme weather across China due to the East Asian monsoon, which has caused disruptions in the world’s second-largest economy.

    Baoding maintained a red alert for heavy rains on Friday morning while Hebei upgraded its emergency response preparedness.

    Chinese authorities are watchful of extreme rainfall and severe flooding, which meteorologists link to climate change, as they challenge China’s ageing flood defences, threaten to displace millions and wreak havoc on a $2.8 trillion agricultural sector.

    (Reuters)

  • MIL-OSI Analysis: As seas rise and fish decline, this Fijian village is finding new ways to adapt

    Source: The Conversation – Global Perspectives – By Celia McMichael, Professor in Geography, The University of Melbourne

    Celia McMichael, CC BY-NC-ND

    In the village of Nagigi, Fiji, the ocean isn’t just a resource – it’s part of the community’s identity. But in recent years, villagers have seen the sea behave differently. Tides are pushing inland. Once abundant, fish are now harder to find. Sandy beaches and coconut trees have been washed away.

    Like many coastal communities, including those across the Pacific Islands region, this village is now under real pressure from climate change and declining fish stocks. Methods of fishing are no longer guaranteed, while extreme weather and coastal erosion threaten homes and land. As one villager told us:

    we can’t find fish easily, not compared to previous times […] some fish species we used to see before are no longer around.

    When stories like this get publicity, they’re often framed as a story of loss. Pacific Islanders can be portrayed as passive victims of climate change.

    But Nagigi’s experience isn’t just about vulnerability. As our new research shows, it’s about the actions people are taking to cope with the changes already here. In response to falling fish numbers and to diversify livelihoods, women leaders launched a new aquaculture project, and they have replanted mangroves to slow the advance of the sea.

    Adaptation is uneven. Many people don’t want to or can’t leave their homes. But as climate change intensifies, change will be unavoidable. Nagigi’s experience points to the importance of communities working collectively to respond to threats.

    Unwelcome change is here

    The communities we focus on, Nagigi village (population 630) and Bia-I-Cake settlement (population 60), are located on Savusavu Bay in Vanua Levu, Fiji’s second largest island. Fishing and marine resources are central to their livelihoods and food security.

    In 2021 and 2023, we ran group discussions (known as talanoa) and interviews to find out about changes seen and adaptations made.

    Nagigi residents have noticed unwelcome changes in recent years. As one woman told us:

    sometimes the sea is coming further onto the land, so there’s a lot of sea intrusion into the plantations, flooding even on land where it never used to be

    Tides are pushing ashore in Nagigi, threatening infrastructure.
    Celia McMichael, CC BY-NC-ND

    In 2016, the devastating Tropical Cyclone Winston destroyed homes and forced some Nagigi residents to move inland to customary mataqali land owned by their clan.

    As one resident said:

    our relocation was smooth because […] we just moved to our own land, our mataqali land.

    But some residents didn’t have access to this land, while others weren’t willing to move away from the coast. One man told us:

    leave us here. I think if I don’t smell or hear the ocean for one day I would be devastated.

    Adaptation is happening

    One striking aspect of adaptation in Nagigi has been the leadership of women, particularly in the small Bia-I-Cake settlement.

    In recent years, the Bia-I-Cake Women’s Cooperative has launched a small-scale aquaculture project to farm tilapia and carp to tackle falling fish stocks in the ocean, tackle rising food insecurity and create new livelihoods.

    Women in the cooperative have built fish ponds, learned how to rear fish to a good size and began selling the fish, including by live streaming the sale. The project was supported by a small grant from the United Nations Development Programme and the Women’s Fund Fiji.

    Recently, the cooperative’s women have moved into mangrove replanting to slow coastal erosion and built a greenhouse to farm new crops.

    As one woman told us, these efforts show women “have the capacity to build a sustainable, secure and thriving community”.

    The community’s responses draw on traditional social structures and values, such as respect for Vanua – the Fijian and Pacific concept of how land, sea, people, customs and spiritual beliefs are interconnected – as well as stewardship of natural resources and collective decision-making through clans and elders, both women and men.

    Nagigi residents have moved to temporarily close some customary fishing grounds to give fish populations a chance to recover. The village is also considering declaring a locally-managed marine area (known as a tabu). This is a response to climate impacts as well as damage to reefs, pollution and overfishing.

    For generations, village residents have protected local ecosystems which in turn support the village. But what is new is how these practices are being strengthened and formalised to respond to new challenges.

    A women’s cooperative have built aquaculture ponds to raise and sell fish.
    Celia McMichael, CC BY-NC-ND

    Adaptation is uneven

    While adaptation is producing some successes, it is unevenly spread. Not everyone has access to customary land for relocation and not every household can afford to rebuild damaged homes.

    What Nagigi teaches us, though, is the importance of local adaptation. Villagers have demonstrated how a community can anticipate risks, respond to change and threats, recover from damage and take advantage of new opportunities.

    Small communities are not just passive sites of loss. They are collectives of strength, agency and ingenuity. As adaptation efforts scale up across the Pacific, it is important to recognise and support local initiatives such as those in Nagigi.

    Sharing effective adaptation methods can give ideas and hope to other communities under real pressure from climate change and other threats.

    Many communities are doing their best to adapt often undertaking community-led adaptation, even despite the limited access Pacific nations have to global climate finance.

    Nagigi’s example shows unwelcome climatic and environmental changes are already arriving. But it’s also about finding ways to live well amid uncertainty and escalating risk by using place, tradition and community.

    The authors acknowledge the support of the people of Nagigi and Bia-I-Cake, and especially the Bia-I-Cake Women’s Cooperative, for sharing their time and insights.

    Celia McMichael receives funding from the Australian Research Council (ARC).

    Merewalesi Yee 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. As seas rise and fish decline, this Fijian village is finding new ways to adapt – https://theconversation.com/as-seas-rise-and-fish-decline-this-fijian-village-is-finding-new-ways-to-adapt-261573

    MIL OSI Analysis

  • MIL-OSI New Zealand: Pacific scholars applaud international ruling on climate change

    Source: Te Poutoko Ora a Kiwa – Centre for Pacific and Global Health

    The International Court of Justice (ICJ) ruling welcomed by Te Poutoko Ora a Kiwa – Centre for Pacific and Global Health.

    The International Court of Justice (ICJ) ruling that countries can be held legally accountable for greenhouse gas emissions has been welcomed by Te Poutoko Ora a Kiwa – Centre for Pacific and Global Health.

    Co-Director Li’amanaia Dr Roannie Ng Shiu commended Pacific youth and Pacific communities for their leadership and perseverance over six years of advocacy. She says their leadership demonstrated the power of young Pacific voices to shape international systems and call the world to account.

    “We extend our congratulations to the Pacific youth, student leaders and our Pacific communities in the region whose courageous advocacy and strategic vision led to this moment.”
    “Their tireless efforts – supported by a coalition of Pacific governments, civil society, and legal experts – have resulted in a global legal affirmation that states have clear obligations to act on climate change.”

    The legal campaign, led by Vanuatu, was initiated by the Pacific Islands Students Fighting Climate Change (PISFCC). Its president, Cynthia Houniuhi, visited the University of Auckland’s Fale Pasifika two years ago as a guest panelist for Te Poutoko Ora a Kiwa’s Pacific Transnational Leadership Panel, where she joined regional leaders in discussing the future of Pacific cooperation.

    Dr Ng Shiu praised the leadership of Houniuhi and the cultural integrity of the campaign.

    “This opinion stems from a journey led by Pacific students and communities, speaking from lived experience – rising sea levels, disrupted ecosystems, and the health and social impacts already affecting their families.”

    That journey has now yielded a decision that will influence global climate action for years to come, says Ng Shiu.

    “As a young Pacific female and student, she epitomizes what it means to make the impossible possible and to redefine leadership. She’s quiet and humble, but when she speaks, it’s deeply impactful. In a world that often celebrates loud and assertive voices, Cynthia’s thoughtful approach stands out.

    “Her leadership, and the way the ICJ campaign was conducted, reflects not just climate justice but also cultural ethics. The integration of storytelling and community engagement ensures that people hear, understand, and embrace the message. This is promising for Indigenous and Pacific peoples – our ways of knowing and being are being valued by institutions like the ICJ.

    “This ruling is not just about empowerment, but also accountability. It s

    MIL OSI New Zealand News

  • MIL-OSI China: China, EU leaders chart course for future cooperation amid global challenges 2025-07-25 10:17:22 As China and the European Union mark the 50th anniversary of their diplomatic ties, Chinese President Xi Jinping has made new propositions on how the two sides can navigate a fast-changing and turbulent world through partnership, cooperation and multilateralism.

    Source: People’s Republic of China – Ministry of National Defense

    Chinese President Xi Jinping meets with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, who are in China for the 25th China-EU Summit, at the Great Hall of the People in Beijing, capital of China, July 24, 2025. (Xinhua/Li Xiang)

    BEIJING, July 24 (Xinhua) — As China and the European Union mark the 50th anniversary of their diplomatic ties, Chinese President Xi Jinping has made new propositions on how the two sides can navigate a fast-changing and turbulent world through partnership, cooperation and multilateralism.

    China-EU relations have come to another critical juncture in their history, Xi said on Thursday, calling on Chinese and European leaders to once again demonstrate vision and leadership, and to provide more stability and certainty for the world through sound, steady China-EU relations.

    The Chinese leader made the remarks when meeting with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, both of whom are in Beijing to attend the 25th China-EU Summit.

    For the future development of China-EU relations, Xi made three proposals: The two sides should uphold mutual respect and consolidate the positioning of China-EU relations as partnership; uphold openness and cooperation and properly manage differences; practice multilateralism and uphold international rules and order.

    On the same day, Chinese Premier Li Qiang co-chaired the summit with Costa and von der Leyen, with both sides pledging to promote cooperation on the economy, trade and investment.

    After the summit, Li and von der Leyen attended the China-EU Business Leaders Symposium, at which some 60 business leaders were present.

    UPHOLDING MUTUAL RESPECT

    Xi said that China and the EU should uphold mutual respect and consolidate the positioning of China-EU relations as partnership.

    Chinese President Xi Jinping meets with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, who are in China for the 25th China-EU Summit, at the Great Hall of the People in Beijing, capital of China, July 24, 2025. (Xinhua/Xie Huanchi)

    The current challenges facing the EU do not come from China, and there are no fundamental conflicts of interest or geopolitical contradictions between China and the EU, Xi said. The fundamentals and prevailing trend of China-EU relations featuring cooperation over competition and consensus over differences have remained constant.

    China has regarded the EU as an important pole in a multipolar world, and consistently supported European integration and the strategic autonomy of the EU, he said, voicing hope that the EU will respect the path and system chosen by the Chinese people, respect China’s core interests and major concerns, and support its development and prosperity.

    He called on both sides to deepen strategic communication, enhance understanding and mutual trust, and foster a correct perception of each other.

    Echoing the Chinese leaders’ remarks, the EU side affirmed its commitment to deepening EU-China relations, managing differences in a constructive manner, and achieving more positive outcomes in bilateral cooperation that is balanced, reciprocal and mutually beneficial.

    ADHERING TO OPENNESS, COOPERATION

    China and the EU should uphold openness and cooperation, and properly manage differences and frictions, Xi said, adding that history and reality show that interdependency is not a risk, and convergent interests are not a threat.

    He said that “reducing dependency” should not lead to reducing China-EU cooperation, and the bilateral economic and trade relationship, which is by nature complementary and mutually beneficial, can indeed achieve dynamic equilibrium through development.

    China’s high-quality development and opening-up will provide new opportunities and potentials for China-EU cooperation, Xi noted.

    It is hoped that the EU can remain open in trade and investment market, refrain from using restrictive economic and trade tools, and foster a sound business environment for Chinese enterprises investing and operating in the EU, he stressed.

    China welcomes more European businesses to invest and pursue long-term operations in China, Premier Li said, calling on the EU to provide a fair, equitable and non-discriminatory environment for Chinese enterprises investing in Europe.

    Li said both sides can forge an “upgraded version” of the China-EU export control dialogue mechanism to ensure the stability of industrial and supply chains between China and Europe.

    The EU side noted that the EU does not seek “decoupling and severing supply chains” and welcomes Chinese enterprises to invest and operate in Europe.

    Feng Zhongping, director of the Institute of European Studies at the Chinese Academy of Social Sciences, said that China-EU cooperation aligns with the fundamental interests of both sides, carries profound global significance, and will provide certainty and stability for the world.

    PRACTICING MULTILATERALISM

    Confronted with the critical choice between war and peace, competition and cooperation, or seclusion and openness, multilateralism and solidarity-based cooperation remain the only viable approach, Xi said.

    He said that China and the EU should practice multilateralism, and uphold international rules and order.

    Xi said China and the EU should jointly uphold the international rules and order established after World War II, advance a more just and equitable global governance system in keeping with the times, and work together to address global challenges such as climate change.

    He said China stands ready to strengthen coordination with the EU to ensure the success of this year’s UN Climate Change Conference in Belem (COP30), and contribute more to global climate response and green transition.

    The EU leaders called on the two sides, faced with a turbulent and uncertain world, to uphold multilateralism, safeguard the purposes and principles of the UN Charter, address global challenges such as climate change, facilitate resolutions to regional hotspot issues, and safeguard world peace and stability.

    On the same day, leaders of China and the EU issued a joint statement on climate change, in which they recognized that strengthening China-EU cooperation on the issue will impact the well-being of people on both sides, and is of great and special significance to upholding multilateralism and advancing global climate governance.

    Wang Yiwei, director of the Institute of International Affairs at Renmin University of China, said that China-EU relations go beyond mere bilateral ties and are of great importance to safeguarding international law and order, and to upholding the international system with the UN at its core.

    MIL OSI China News

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 25, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 25, 2025.

    Gangs are going global and so is the illegal gun trade – NZ can do more to fight it
    Source: The Conversation (Au and NZ) – By Alexander Gillespie, Professor of Law, University of Waikato According to the Global Organised Crime Index, international criminal activity has increased over the past two years. And the politically fractured post-pandemic world has made this even harder for nations to combat. New Zealand is far from immune. According

    Historic ICJ climate ruling ‘just the beginning’, says Vanuatu’s Regenvanu
    By Ezra Toara in Port Vila Vanuatu’s Minister of Climate Change Adaptation, Ralph Regenvanu, has welcomed the historic International Court of Justice (ICJ) climate ruling, calling it a “milestone in the fight for climate justice”. The ICJ has delivered a landmark advisory opinion on states’ obligations under international law to act on climate change. The

    3 reasons young people are more likely to believe conspiracy theories – and how we can help them discover the truth
    Source: The Conversation (Au and NZ) – By Jean-Nicolas Bordeleau, Research Fellow, Jeff Bleich Centre for Democracy and Disruptive Technologies, Flinders University Conspiracy theories are a widespread occurrence in today’s hyper connected and polarised world. Events such as Brexit, the 2016 and 2020 United States presidential elections, and the COVID pandemic serve as potent reminders

    Waiting too long for public dental care? Here’s why the system is struggling – and how to fix it
    Source: The Conversation (Au and NZ) – By Santosh Tadakamadla, Professor and Head of Dentistry and Oral Health, La Trobe University Just over one-third of Australians are eligible for public dental services, which provide free or low cost dental treatment. Yet demand for these services continues to exceed supply. As a result, many Australian adults

    Butter wars: ‘nothing cures high prices like high prices’ – but will market forces be enough?
    Source: The Conversation (Au and NZ) – By Alan Renwick, Professor of Agricultural Economics, Lincoln University, New Zealand RobynRoper/Getty Images The alarming rise of butter prices has become a real source of frustration for New Zealand consumers, as well as a topic of political recrimination. The issue has become so serious that Miles Hurrell, chief

    Ultrafast fashion brand Princess Polly has been certified as ‘sustainable’. Is that an oxymoron?
    Source: The Conversation (Au and NZ) – By Harriette Richards, Senior Lecturer, School of Fashion and Textiles, RMIT University Carol Yepes/Getty Images Last week, the ultrafast fashion brand Princess Polly received B Corp certification. This certification is designed to accredit for-profit businesses that provide social impact and environmental benefit. Established on the Gold Coast in

    AI will soon be able to audit all published research – what will that mean for public trust in science?
    Source: The Conversation (Au and NZ) – By Alexander Kaurov, PhD Candidate in Science and Society, Te Herenga Waka — Victoria University of Wellington Jamillah Knowles & Digit/Better Images of AI, CC BY-SA Self-correction is fundamental to science. One of its most important forms is peer review, when anonymous experts scrutinise research before it is

    Columbia’s $200M deal with Trump administration sets a precedent for other universities to bend to the government’s will
    Source: The Conversation (Au and NZ) – By Brendan Cantwell, Associate Professor of Higher, Adult, and Lifelong Education, Michigan State University Students at Columbia University in New York City on April 14, 2025. Charly Triballeau/AFP via Getty Images Columbia University agreed on July 23, 2025, to pay a US$200 million fine to the federal government

    Miles Franklin 2025: Siang Lu’s Ghost Cities is a haunting comedy about tyranny. Is it the funniest winner ever?
    Source: The Conversation (Au and NZ) – By Joseph Steinberg, Forrest Foundation Postdoctoral Fellow, English & Literary Studies, The University of Western Australia Siang Lu David Kelly/UQP The Miles Franklin judges described Siang Lu’s Ghost Cities, winner of the 2025 award, as “a grand farce and a haunting meditation on diaspora”. To my mind, it

    Keep fighting for a nuclear-free Pacific, Helen Clark warns Greenpeace over global storm clouds
    Asia Pacific Report Former New Zealand prime minister Helen Clark warned activists and campaigners in a speech on the deck of the Greenpeace environmental flagship Rainbow Warrior III last night to be wary of global “storm clouds” and the renewed existential threat of nuclear weapons. Speaking on her reflections on four decades after the bombing

    Business coalition calls for 25% cut in the cost of red tape by 2030
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Business, universities, and investors have jointly urged the federal government to commit to cutting the cost of red tape by 25% by 2030, in a submission for next month’s Economic Reform Roundtable. The push to reduce regulation is in line

    Grattan on Friday: net zero battle has net zero positives for Sussan Ley
    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra There’s no other way of looking at it: Sussan Ley faces a diabolical situation with the debate over whether the Coalition should abandon the 2050 net zero emissions target. The issue is a microcosm of her wider problems. The Nationals,

    The Murray–Darling Basin Plan Evaluation is out. The next step is to fix the land, not just the flows
    Source: The Conversation (Au and NZ) – By Michael Stewardson, CEO One Basin CRC, The University of Melbourne Yarramalong Weir is one of many barriers to the passage of fish in the Murray-Darling Basin. Geoff Reid, One Basin CRC A report card into the A$13 billion Murray–Darling Basin Plan has found much work is needed

    The Murray–Darling Basin Plan Evaluation is out. The next step is to fix the land, not just the flows
    Source: The Conversation (Au and NZ) – By Michael Stewardson, CEO One Basin CRC, The University of Melbourne Yarramalong Weir is one of many barriers to the passage of fish in the Murray-Darling Basin. Geoff Reid, One Basin CRC A report card into the A$13 billion Murray–Darling Basin Plan has found much work is needed

    Reserve Bank says unemployment rise was not a shock, inflation on track
    Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra Reserve Bank Governor Michele Bullock has fleshed out the central bank’s thinking behind its surprise decision to keep interest rates on hold this month. In a speech today to the Anika Foundation, Bullock said there has been:

    Reserve Bank says unemployment rise was not a shock, inflation on track
    Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra Reserve Bank Governor Michele Bullock has fleshed out the central bank’s thinking behind its surprise decision to keep interest rates on hold this month. In a speech today to the Anika Foundation, Bullock said there has been:

    Israel waging ‘horror show’ starvation campaign in Gaza, says UN chief
    This is Democracy Now!. I’m Amy Goodman. More than 100 humanitarian groups are demanding action to end Israel’s siege of Gaza, warning mass starvation is spreading across the Palestinian territory. The NGOs, including Amnesty International, Oxfam, Doctors Without Borders, warn, “illnesses like acute watery diarrhea are spreading, markets are empty, waste is piling up, and

    Israel waging ‘horror show’ starvation campaign in Gaza, says UN chief
    This is Democracy Now!. I’m Amy Goodman. More than 100 humanitarian groups are demanding action to end Israel’s siege of Gaza, warning mass starvation is spreading across the Palestinian territory. The NGOs, including Amnesty International, Oxfam, Doctors Without Borders, warn, “illnesses like acute watery diarrhea are spreading, markets are empty, waste is piling up, and

    Historic ruling finds climate change ‘imperils all forms of life’ and puts laggard nations on notice
    Source: The Conversation (Au and NZ) – By Jacqueline Peel, Professor of Law and Director, Melbourne Climate Futures, The University of Melbourne Hilaire Bule/Getty Climate change “imperils all forms of life” and countries must tackle the problem or face consequences under international law, the International Court of Justice (ICJ) has found. The court delivered its

    Jet ski accidents are tragic but preventable. Here’s how to reduce the risk
    Source: The Conversation (Au and NZ) – By Milad Haghani, Associate Professor & Principal Fellow in Urban Risk & Resilience, The University of Melbourne Richard Hamilton Smith/Getty Two teenage boys were thrown from a jet ski during a ride on the Georges River in Sydney’s south this week. One died at the scene. The other

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: China, EU leaders chart course for future cooperation amid global challenges

    Source: People’s Republic of China – State Council News

    Chinese President Xi Jinping meets with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, who are in China for the 25th China-EU Summit, at the Great Hall of the People in Beijing, capital of China, July 24, 2025. (Xinhua/Li Xiang)

    As China and the European Union mark the 50th anniversary of their diplomatic ties, Chinese President Xi Jinping has made new propositions on how the two sides can navigate a fast-changing and turbulent world through partnership, cooperation and multilateralism.

    China-EU relations have come to another critical juncture in their history, Xi said on Thursday, calling on Chinese and European leaders to once again demonstrate vision and leadership, and to provide more stability and certainty for the world through sound, steady China-EU relations.

    The Chinese leader made the remarks when meeting with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, both of whom are in Beijing to attend the 25th China-EU Summit.

    For the future development of China-EU relations, Xi made three proposals: The two sides should uphold mutual respect and consolidate the positioning of China-EU relations as partnership; uphold openness and cooperation and properly manage differences; practice multilateralism and uphold international rules and order.

    On the same day, Chinese Premier Li Qiang co-chaired the summit with Costa and von der Leyen, with both sides pledging to promote cooperation on the economy, trade and investment.

    After the summit, Li and von der Leyen attended the China-EU Business Leaders Symposium, at which some 60 business leaders were present.

    UPHOLDING MUTUAL RESPECT

    Xi said that China and the EU should uphold mutual respect and consolidate the positioning of China-EU relations as partnership.

    Chinese President Xi Jinping meets with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, who are in China for the 25th China-EU Summit, at the Great Hall of the People in Beijing, capital of China, July 24, 2025. (Xinhua/Xie Huanchi)

    The current challenges facing the EU do not come from China, and there are no fundamental conflicts of interest or geopolitical contradictions between China and the EU, Xi said. The fundamentals and prevailing trend of China-EU relations featuring cooperation over competition and consensus over differences have remained constant.

    China has regarded the EU as an important pole in a multipolar world, and consistently supported European integration and the strategic autonomy of the EU, he said, voicing hope that the EU will respect the path and system chosen by the Chinese people, respect China’s core interests and major concerns, and support its development and prosperity.

    He called on both sides to deepen strategic communication, enhance understanding and mutual trust, and foster a correct perception of each other.

    Echoing the Chinese leaders’ remarks, the EU side affirmed its commitment to deepening EU-China relations, managing differences in a constructive manner, and achieving more positive outcomes in bilateral cooperation that is balanced, reciprocal and mutually beneficial.

    ADHERING TO OPENNESS, COOPERATION

    China and the EU should uphold openness and cooperation, and properly manage differences and frictions, Xi said, adding that history and reality show that interdependency is not a risk, and convergent interests are not a threat.

    He said that “reducing dependency” should not lead to reducing China-EU cooperation, and the bilateral economic and trade relationship, which is by nature complementary and mutually beneficial, can indeed achieve dynamic equilibrium through development.

    China’s high-quality development and opening-up will provide new opportunities and potentials for China-EU cooperation, Xi noted.

    It is hoped that the EU can remain open in trade and investment market, refrain from using restrictive economic and trade tools, and foster a sound business environment for Chinese enterprises investing and operating in the EU, he stressed.

    China welcomes more European businesses to invest and pursue long-term operations in China, Premier Li said, calling on the EU to provide a fair, equitable and non-discriminatory environment for Chinese enterprises investing in Europe.

    Li said both sides can forge an “upgraded version” of the China-EU export control dialogue mechanism to ensure the stability of industrial and supply chains between China and Europe.

    The EU side noted that the EU does not seek “decoupling and severing supply chains” and welcomes Chinese enterprises to invest and operate in Europe.

    Feng Zhongping, director of the Institute of European Studies at the Chinese Academy of Social Sciences, said that China-EU cooperation aligns with the fundamental interests of both sides, carries profound global significance, and will provide certainty and stability for the world.

    PRACTICING MULTILATERALISM

    Confronted with the critical choice between war and peace, competition and cooperation, or seclusion and openness, multilateralism and solidarity-based cooperation remain the only viable approach, Xi said.

    He said that China and the EU should practice multilateralism, and uphold international rules and order.

    Xi said China and the EU should jointly uphold the international rules and order established after World War II, advance a more just and equitable global governance system in keeping with the times, and work together to address global challenges such as climate change.

    He said China stands ready to strengthen coordination with the EU to ensure the success of this year’s UN Climate Change Conference in Belem (COP30), and contribute more to global climate response and green transition.

    The EU leaders called on the two sides, faced with a turbulent and uncertain world, to uphold multilateralism, safeguard the purposes and principles of the UN Charter, address global challenges such as climate change, facilitate resolutions to regional hotspot issues, and safeguard world peace and stability.

    On the same day, leaders of China and the EU issued a joint statement on climate change, in which they recognized that strengthening China-EU cooperation on the issue will impact the well-being of people on both sides, and is of great and special significance to upholding multilateralism and advancing global climate governance.

    Wang Yiwei, director of the Institute of International Affairs at Renmin University of China, said that China-EU relations go beyond mere bilateral ties and are of great importance to safeguarding international law and order, and to upholding the international system with the UN at its core.

    MIL OSI China News

  • MIL-OSI Russia: China Makes Important Contribution to Green Development – Chinese Foreign Ministry

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

    Source: People’s Republic of China – State Council News

    BEIJING, July 24 (Xinhua) — China is willing to work with all parties to comprehensively implement the United Nations Framework Convention on Climate Change (UNFCCC), adhere to the principle of common but differentiated responsibilities, and promote the building of a fair and reasonable global climate governance system for win-win cooperation, Chinese Foreign Ministry spokesperson Guo Jiakun said Thursday.

    Guo Jiakun made the remarks at a regular briefing, commenting on the advisory opinion of the International Court of Justice on the obligations of states with respect to climate change. On July 23, the International Court affirmed that the UNFCCC system is the primary legal instrument guiding international efforts to address the global problem of climate change, and clearly outlined the rights and obligations of countries under international environmental law. Several states said this marked a critical moment in advancing global climate justice.

    “The Chinese side noted that the advisory opinion of the International Court of Justice stated that the UNFCCC system is the main legal instrument regulating international efforts to address the global problem of climate change, and also confirmed that the principle of common but differentiated responsibilities, the principle of sustainable development and the principle of equity serve as guiding principles for the interpretation and application of relevant international law,” the official representative said.

    Guo Jiakun noted that the conclusion emphasizes the leading role of developed countries in combating climate change and the commitment of states to strengthen international cooperation. According to the Chinese diplomat, the conclusion reflects the long-standing position and approach of developing countries, including China, which has positive implications for maintaining and promoting international climate cooperation.

    China actively participated in the preparation of this advisory opinion, Guo Jiakun emphasized. The diplomat pointed out that, as the largest developing country, China is a staunch supporter and important participant in green development, and is actively and confidently working to realize its goals of achieving peak carbon emissions and carbon neutrality.

    “We will achieve the world’s largest reduction in carbon intensity and move from peak emissions to carbon neutrality in the shortest time in world history,” Guo Jiakun said.

    At the same time, China’s high-quality and low-cost clean energy technologies and products greatly reduce the costs of the global green and low-carbon transition, the official noted, adding that China also provides maximum assistance to other developing countries through South-South cooperation channels.

    No matter how the world changes, China will not slow down its actions to combat climate change, will not reduce its support for international cooperation, and will not stop its efforts to build a community with a shared future for mankind, Guo Jiakun said. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News

  • MIL-Evening Report: Historic ICJ climate ruling ‘just the beginning’, says Vanuatu’s Regenvanu

    By Ezra Toara in Port Vila

    Vanuatu’s Minister of Climate Change Adaptation, Ralph Regenvanu, has welcomed the historic International Court of Justice (ICJ) climate ruling, calling it a “milestone in the fight for climate justice”.

    The ICJ has delivered a landmark advisory opinion on states’ obligations under international law to act on climate change.

    The ruling marks a major shift in the global push for climate justice.

    Vanuatu — one of the nations behind the campaign — has pledged to take the decision back to the UN General Assembly (UNGA) to seek a resolution supporting its full implementation.

    Climate Change Minister Regenvanu said in a statement: “We now have a common foundation based on the rule of law, releasing us from the limitations of individual nations’ political interests that have dominated climate action.

    “This moment will drive stronger action and accountability to protect our planet and peoples.”

    The ICJ confirmed that state responsibilities extend beyond voluntary commitments under the UNFCCC and Paris Agreement.

    It ruled that customary international law also requires states to prevent environmental and transboundary harm, protect human rights, and cooperate to address climate change impacts.

    Duties apply to all states
    These duties apply to all states, whether or not they have ratified specific climate treaties.

    Violations of these obligations carry legal consequences. The ICJ clarified that climate damage can be scientifically traced to specific polluter states whose actions or inaction cause harm.

    As a result, those states could be required to stop harmful activities, regulate private sector emissions, end fossil fuel subsidies, and provide reparations to affected states and individuals.

    “The implementation of this decision will set a new status quo and the structural change required to give our current and future generations hope for a healthy planet and sustainable future,” Minister Regenvanu added.

    He said high-emitting nations, especially those with a history of emissions, must be held accountable.

    Despite continued fossil fuel expansion and weakening global ambition — compounded by the United States’ withdrawal from the Paris Agreement — Regenvanu said the ICJ ruling was a powerful tool for campaigners, lawyers, and governments.

    “Vanuatu is proud and honoured to have spearheaded this initiative,” he said.

    ‘Powerful testament’
    “The number of states and civil society actors that have joined this cause is a powerful testament to the leadership of Small Island Developing States (SIDS) and youth activists.”

    The court’s decision follows a resolution adopted by consensus at the UNGA on 29 March 2023. That campaign was initiated by the Pacific Island Students Fighting Climate Change and backed by the Vanuatu government, calling for greater accountability from high-emitting countries.

    The ruling will now be taken to the UNGA in September and is expected to be a central topic at COP30 in Brazil this November.

    Vanuatu has committed to working with other nations to turn this legal outcome into coordinated action through diplomacy, policy, litigation, and international cooperation.

    “This is just the beginning,” Regenvanu said. “Success will depend on what happens next. We look forward to working with global partners to ensure this becomes a true turning point for climate justice.”

    Republished from the Vanuatu Daily Post with permission.

    The International Court of Justice (ICJ) delivers its historic climate ruling in The Hague on Tuesday. Image: VDP

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI New Zealand: Rangatahi to lead negotiations in international climate meeting simulation – Save the Children

    Source: Save the Children

    Kiwi young people will tomorrow come together to negotiate climate policy, find solutions and create a statement for climate action during Aotearoa Youth COP, New Zealand’s youth-led national simulation event of the UN’s international climate meeting.
    Held at Auckland University, around 200 young people aged between 14 and 30 (more than half under 18) have registered to attend the simulation of the UN’s annual climate meeting, to be held later this year in Belém, Brazil.
    The event – supported by Save the Children, Youth Climate Collective and Ngā Ara Whetū (Centre for Climate, Biodiversity and Society) – builds on last year’s first-ever COP simulation event, with interactive workshops, climate policy negotiations and debates on some of the most pressing issues facing youth today. The event will also include a panel discussion and talk from British High Commission’s Lead Climate Change Advisor Rick Zwaan.
    Participants will take on roles representing different groups, from journalists to policy makers, indigenous communities to NGOs. Working in teams, they will create, debate and negotiate agreements, like real global leaders, with each session designed to build leadership, negotiation, systems thinking and collaboration skills in a supportive and action-focused environment.
    At the end of the day, the insights and policies developed will be collated into an Aotearoa Youth Climate Statement , which will be delivered to the New Zealand Government and presented at COP30 in Brazil by a delegation of young leaders.
    Save the Children Generation Hope youth ambassador Lily, 15, says she is most looking forward to seeing how rangatahi reflect on climate change and the impact they can have on it.
    “Events like this give rangatahi like me a voice, an opportunity to discuss how we believe we can solve a collective problem without judgement or difficulty. I think, as rangatahi, we have the right to be at the forefront of discussions on climate change.
    “We may not be the past, but we are the present and future, and the outcome of what we do now will impact us and future generations to come.”
    Save the Children New Zealand CEO Heather Campbell says this week’s landmark ICJ advisory opinion, which acknowledges the impacts of climate change on children and young people, gives voice to the millions of children at the forefront of the climate crisis – and offers hope for greater climate action.
    “The climate crisis is a children’s rights crisis. Children, particularly those affected by inequality and discrimination, bear the brunt of climate change impacts, despite being least responsible.
    “It was Pacific youth leaders who began this fight for climate justice and took it to the highest court in the world, which shows the power of young people to implement their ideas for a better future. Children want and deserve to be heard. Their voices matter.”
    About Save the Children NZ:
    Save the Children works in 110 countries across the world. The organisation responds to emergencies and works with children and their communities to ensure they survive, learn and are protected.
    Save the Children NZ currently supports international programmes in Fiji, Cambodia, Bangladesh, Laos, Nepal, Vanuatu, Solomon Islands and Papua New Guinea. Areas of work include child protection, education and literacy, disaster risk reduction and climate adaptation, and alleviating child poverty.

    MIL OSI New Zealand News