About two thirds of the fertilisers used in the EU agriculture are nitrogen-based. The raw material used in their production is natural gas, accounting for over 70% of variable production costs. In 2022, the energy crisis led to unprecedented high fertiliser prices and closures of production capacities across the EU.
Fertiliser prices have decreased in 2023 but are at levels above those of the past decade, as natural gas prices moved to a higher plateau.
The competitiveness of EU production of ammonia, the indispensable precursor of all nitrogen fertilisers, was affected as a result, leading to lower production capacity utilisation rates and even to some plant closures.
The Commission already outlined several avenues to ensure the availability and affordability of fertilisers in the EU[1]. At the same time, it is necessary to maintain sufficient production capacity in the EU, including through the substitution of gas-based production with more climate-neutral alternatives.
For instance, financial endowments from the Just Transition Fund[2] are earmarked for promoting the production of green ammonia in Romania (Azomures) and Lithuania (AB Achema).
In July 2024, the Commission approved a EUR 122 million Lithuanian state aid measure to support the decarbonisation of Achema’s production processes[3].
The Commission is aware of the developments the Honourable Member refers to in the question. Royal Decree-Law 5/2024 was approved by the Spanish Government on 22 October 2024 and validated by the Spanish Congress on 30 October 2024.
The Commission attaches great importance to the principles of media freedom and pluralism, which are fundamental pillars of democratic societies.
The European Media Freedom Act[1], which entered into force on 7 May 2024 and will apply from 8 August 2025, aims to ensure editorial independence of public service media providers, in accordance with their public service remit as defined at national level in line with Protocol No 29 on the system of public broadcasting in the Member States, attached to the Treaty on European Union and the Treaty on the Functioning of the European Union[2].
Protocol No 29 recognises the Member States’ freedom to define, organise and finance public service broadcasting. Nevertheless, all Member States have agreed to a set of European standards and guiding principles relating to independence, the regulatory and policy framework, funding, appointments, accountability, management, transparency, and openness in this domain[3].
The Commission will continue to monitor developments concerning the public service broadcasters, both at national and regional levels, taking into account the provisions in the European Media Freedom Act.
[1] Regulation (EU) 2024/1083 of the European Parliament and of the Council of 11 April 2024 establishing a common framework for media services in the internal market and amending Directive 2010/13/EU (European Media Freedom Act) (OJ L, 2024/1083, 17.04.2024, ELI: http://data.europa.eu/eli/reg/2024/1083/oj).
Question for written answer E-000349/2025 to the Commission Rule 144 Marieke Ehlers (PfE)
On 26 January 2025, US President Trump announced sanctions against Colombia after the Colombian Government refused to allow to land two US planes carrying deported Colombian illegal immigrants. These sanctions included a 25 % import tax on goods from Colombia, with a possible increase to 50 % after seven days, visa sanctions for Colombian Government representatives, tougher border controls for Colombian residents and imports, and additional financial sanctions. Six minutes after the sanctions were announced, the Colombian Government proposed to pick up the Colombian illegal immigrants itself using the presidential plane.
1.Does the Commission agree that this type of sanction works to get countries of origin or departure to take back asylum seekers and criminal migrants who have been deported?
2.Is the Commission considering using such sanctions to facilitate the implementation of the Return Directive and the Pact on Migration and Asylum?
The Western Mediterranean management plan[1] (MAP) aims to secure a sustainable and profitable future for the sector relying on healthy fish stocks. The Commission has worked with all stakeholders to implement gradually the MAP since its adoption by the co-legislators in 2019.
While the fishing opportunities adopted by the Council have gradually reduced trawling effort since 2020, numerous flexibilities alleviated the reduction, such as additional fishing days granted by the compensation mechanism. Moreover, European financial assistance is available to those fishers who opt in.
The Commission proposal for the 2025 fishing opportunities was based on the best available scientific advice provided by the Scientific, Technical and Economic Committee for Fisheries[2] (STECF) and extended the compensation mechanism.
Taking all available data and models into account, the STECF advice shows that several stocks are outside of safe biological limits and drastic catch reductions are needed for stocks to recover. For 2025, the Council decided to keep the reductions proposed by the Commission, while expanding the compensation mechanism.
The socioeconomic specificities of the Western Mediterranean fisheries were considered during the negotiations of the MAP, and the co-legislators agreed to postpone the achievement of sustainable fisheries to 2025[3].
The Commission has worked based on STECF socioeconomic analyses that conclude how ambitious management measures will rapidly pay off with healthier stocks and increased sector profitability.
In 2024, the Commission had extensive discussions with all stakeholders. The Commission will continue working with Member States, scientists[4] and the fishing sector for the implementation of the MAP.
[1] Regulation (EU) 2019/1022 of the European Parliament and of the Council of 20 June 2019 establishing a multiannual plan for the fisheries exploiting demersal stocks in the western Mediterranean Sea and amending Regulation (EU) No 508/2014. OJ L 172, 26.6.2019, p. 1-17.
[2] STECF Expert Working Group EWG 24-10 (https://stecf.jrc.ec.europa.eu/documents/d/stecf/tors_ewg_24-10) and STECF Expert Working Group EWG 24-12 (https://stecf.jrc.ec.europa.eu/documents/d/stecf/ewg_24-12_tor_westmed_fisheries-management).
[3] A 5 year derogation compared to other sea basins, for which the legal requirement to achieve sustainable fisheries had to be achieved by 2020 at the latest.
[4] providing the latest data and models available.
EIB Global is granting a €105 million loan to Ameriabank to scale up support for the Armenian private sector.
This is the largest direct loan ever granted by EIB Global to a bank in the South Caucasus.
This finance will help around 400 small businesses and secure 15 000 jobs, with at least 20% going towards green investments.
Thanks to EU support, part of the financing will be provided in local currency to protect businesses against currency risk.
The European Investment Bank (EIB Global) has made its first ever agreement with Ameriabank. The EIB will provide the bank with €105 million in financing — its largest direct loan to a bank in the South Caucasus region. The aim of the operation is to finance investments in micro, small, and medium-sized enterprises (MSMEs) and mid-caps in Armenia, with the aim of supporting their growth, competitiveness and adoption of greener and more sustainable practices. This initiative underscores EIB Global’s commitment to fostering economic development, supporting private-sector growth, and creating sustainable jobs in Armenia.
The financing will enable Ameriabank to offer affordable loans to local businesses. The operation is expected to benefit approximately 400 MSMEs and sustain over 15 000 jobs in the Armenian economy. At least 20% of the loan will be directed towards green investments, contributing to Armenia’s transition to a more sustainable and resilient economy.
“We are delighted to partner with Ameriabank to strengthen Armenia’s private sector and promote sustainable economic growth,” said EIB Vice-PresidentTeresaCzerwińska, who oversees EIB operations in Armenia. “This operation is a milestone, constituting a significant step forward in our commitment to fostering sustainable development and economic resilience, in line with both the European Union and Armenia’s priorities.”
Part of the financing will be provided in local currency to protect MSMEs against currency risk. The European Union is supporting the operation with grant funding, which will help ensure the loan’s interest rate remains affordable. This operation will help the European Union in its ambition to support 30 000 MSMEs for a sustainable, innovative and competitive economy, as one of the five pillars for Armenia set out in the Economic and Investment Plan for the Eastern Partnership.
“With this support to the Armenian MSMEs, we are delivering on our commitment to further support Armenian private sector and contribute to addressing the pressing need for access to finance including in local currency. This assistance is part of the European Investment Plan (EIP) for Armenia which is a comprehensive initiative aimed at fostering economic growth, sustainable development, and prosperity in the country. We will further build on these efforts by delivering in total €270 million under the Resilience and Growth Plan in the period 2024-2027. A large part of it will be dedicated to business development, targeted at tech, start-ups and new export opportunities, which will support Armenia’s economic diversification,” said Head of the EU Delegation to Armenia, Ambassador Vassilis Maragos.
The funds will reach underserved businesses via Ameriabank’s extensive network, enabling them to invest in growth, improve competitiveness and adopt environmentally sustainable practices.
Ameriabank Chief Financial Officer Hovhannes Toroyan said, “We are pleased to partner with the European Investment Bank (EIB Global) to reaffirm our commitment to supporting micro, small, and medium-sized enterprises (MSMEs) in Armenia. This collaboration will provide local businesses with affordable funding, enabling them to reach their full potential and contribute significantly to Armenia’s economic growth. As the largest lender in the Armenian economy with a solid portfolio in green and sustainable financing, we are confident in our ability to foster a more sustainable and inclusive economic future for Armenia.”
Background information
About EIB Global
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 Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world.
About Ameriabank
Ameriabank is a leading financial institution in Armenia, a major contributor to the Armenian economy with assets around AMD 1.9 trillion. The Bank has adopted a customer-focused approach to ensure service quality and modern banking experience in an evolving digital environment. Ameriabank is committed to doing business responsibly and advancing Armenia’s transition towards a sustainable future.
on the draft Council decision on the conclusion, on behalf of the European Union, of the Protocol (2024-2029) implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde
–having regard to the draft Council decision (11267/2024),
–having regard to the draft agreement (11026/2024),
–having regard to the request for consent submitted by the Council in accordance with Article 43(2) and Article 218(6), second subparagraph, point (a)(v), and Article 218(7), of the Treaty on the Functioning of the European Union (C10‑0087/2024),
–having regard to the budgetary assessment by the Committee on Budgets,
–having regard to Rule 107(1) and (4), and Rule 117(7) of its Rules of Procedure,
–having regard to the opinion of the Committee on Development,
–having regard to the recommendation of the Committee on Fisheries (A10-0004/2025),
1.Gives its consent to the conclusion of the agreement;
2.Instructs its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States and of the Republic of Cabo Verde.
EXPLANATORY STATEMENT
The Fisheries Partnership Agreement (FPA) between the European Community and the Republic of Cabo Verde (FPA) offers fishing opportunities for 56 EU vessels for tuna and related species in Cabo Verde’s waters.
The new agreement covers a period of five years and will offer EU vessels the possibility to fish 7 000 tonnes of tuna and tuna-like species in Cabo Verde’s waters. In return, the EU will pay Cabo Verde a financial contribution of 780 000€ per year (EUR 3 900 000 for the entire duration of the Protocol), from which 350 000€ is related to a reference tonnage of 7 000 tonnes, and 430 000€ to support for developing Cabo Verde’s sectoral fisheries policy.
The rapporteur highlights the strategic importance of Cabo Verde, as a relevant player in the Atlantic Ocean, remembering that the EU and Cabo Verde have developed a cooperative relationship for more than four decades, with respect and political dialogue. Currently, Cabo Verde and the EU share common values such as democracy, respect for Human Rights and the Rule of Law, the promotion of multilateralism, and Cabo Verde is part of a regional group, called Macaronesia, which includes the Azores, Madeira, Canaries and Cabo Verde. The evolution of relations in these fields led to the creation of the EU-Cabo Verde Special Partnership in 2007, which continues to evolve.
The rapporteur stresses the importance of the EU-Cabo Verde SFPA for the EU fleet fishing for tuna and related species in the Atlantic Ocean, following strict EU criteria with regard to fisheries management, resource conservation and environmental sustainability, while at the same time strictly respecting the human rights and contributing for local socioeconomic development.
The rapporteur considers that this is a balanced Agreement, in which the remuneration for the fishing opportunities is lower than the EU contribution to support the development of Cabo Verde fisheries sector. This Protocol puts special emphasis on promoting decent working conditions for fishing activity, scientific capacity building, observation and management of the marine environment and marine protected areas. It promotes sustainable fisheries management, fisheries control and the fight against illegal, unreported and unregulated fishing (IUU). It also contains new provisions to improve vessel monitoring, the management of fishing authorizations and enhanced management measures for shark stocks. The Protocol responds to Cabo Verde’s desire to strengthen the industrialization and competitiveness of its fishing sector.
In accordance with Article 218(6) TFEU, the consent of the European Parliament is required in order for the Council to adopt a decision on the conclusion of the Agreement.
In the light of the above, the Rapporteur recommends to Parliament to give its consent to the conclusion of the Agreement.
ANNEX: ENTITIES OR PERSONSFROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT
The rapporteur declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.
BUDGETARY ASSESSMENT OF THE COMMITTEE ON BUDGETS (22.11.2024)
for the Committee on Fisheries
on the proposal for a Council decision on the conclusion, on behalf of the Union, of the Protocol (2024-2029) implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde
Rapporteur for budgetary assessment:Hélder Sousa Silva
The Committee on Budgets has carried out a budgetary assessment of the proposal under Rule 58 of the Rules of Procedure and has reached the following conclusions:
–having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union[1],
–having regard to the Interinstitutional Agreement (IIA) of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources[2], and in particular point 20 thereof,
A.whereas the financial contribution for the entire duration of the Protocol is EUR 3 900 000 (i.e. EUR 780 000 per year), based on:
(a)a reference tonnage of 7 000 tonnes, for which an annual amount linked to access has been set at EUR 350 000;
(b)support for developing Cabo Verde’s sectoral fisheries policy, amounting to EUR 430 000 per year;
B.whereas the implementation of the Protocol requires the use of operational appropriations, as explained below:
EUR million (to three decimal places)
DG MARE
Year 2024
Year 2025
Year 2026
Year 2027
Year 2028
TOTAL
□Operational appropriations
Budget line 08.05.01
Commitments
(1a)
0.780
0.780
0.780
0.780
0.780
3.900
Payments
(2 a)
0.780
0.780
0.780
0.780
0.780
3.900
C.whereas the annual amount for commitment and payment appropriations is established during the annual budgetary procedure, including for the reserve line for protocols not yet having entered into force at the beginning of the year;
1.Notes that the support allocated to the Protocol should meet the objectives of cooperation in the fields of sustainable exploitation of fishery resources, aquaculture, sustainable development of the oceans, protection of the marine environment, and the blue economy; considers that this should be thoroughly scrutinised to ensure that this is done effectively during the implementation of the Protocol; notes that the support has a direct link to the principles of the Samoa Agreement[3]reinforcing the Union’s external action towards African, Caribbean and Pacific (ACP) countries and taking account, in particular, of the Union’s objectives with regard to democratic principles and human rights, strengthening EU presence in the region and the cooperation with an important strategic partner;
2.Recommends that, for future agreements, an impact assessment of the added value and socio-economic benefits derived from the previous agreement be taken into account; considers that this assessment should guide the negotiation and renewal of subsequent agreements to ensure that they align with the objectives of sustainable development and efficient use of the EU’s financial resources;
3.Notes that the Protocol implementing the Fisheries Partnership Agreement with Cabo Verde had not yet entered into force at the beginning of this year;
4.Recalls that the IIA requires that amounts provided for in the budget for the renewal of fisheries agreements that enter into force after 1 January of the financial year concerned be put in the reserve;
5.Recalls that the use of the appropriations in the reserve requires a transfer in accordance with Article 31 of the Financial Regulation for the amount concerned from reserve line 30 02 02 to operational line 08 05 01;
6.Recalls that the Financial Regulation requires the Commission to only sign a protocol with financial implications when appropriations are available on the operational line;
7.Notes that the Protocol with Cabo Verde was signed on 23 July 2024;
8.Expresses its concern that no request for a transfer was submitted to the Committee on Budgets before the signing of the Protocol;
9.Takes note of the information from the Commission that for 2024 part of the unused appropriations for the implementation of the fisheries agreement with Greenland was available on operational line 08 05 01 and would be used for the implementation of the Protocol with Cabo Verde;
10.Considers that this practice does not respect the provisions of the IIA; furthermore, maintains that appropriations are to be used for the purpose for which they have been entered into the budget;
11.Notes the relatively small amount linked to the implementation of the Protocol with Cabo Verde, which might explain why the Commission has deviated from the required procedure; considers this to be a special situation that can be accepted by way of an exception;
12.Demands that the Commission act in compliance with the provisions of the IIA for any future fisheries agreement regardless of the amount involved;
13.Stresses that the financial programming of line 08 05 01 needs to be enough to cater for the financial obligations for 2025-2027, subject to the decision of the budgetary authority in the annual budgetary procedures; in this regard, notes that line 08 05 01 in the 2025 Draft Budget and in the Council Position on the 2025 Draft Budget includes an amount of EUR 150 560 000 in commitment appropriations and EUR 135 275 000 in payment appropriations; calls for scrutiny regarding the financial programming of line 08 05 01 in the annual budgets of 2026 and 2027;
14.Concludes that the Committee on Budgets is in a position to advise the Committee on Fisheries, as the committee responsible, to recommend approval of the proposal for a Council decision on the conclusion, on behalf of the Union, of the Protocol (2024-2029) implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde.
ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR FOR BUDGETARY ASSESSMENT HAS RECEIVED INPUT
The rapporteur for budgetary assessment declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.
PROCEDURE – COMMITTEE ASKED FOR BUDGETARY ASSESSMENT
Title
Conclusion, on behalf of the Union, of the Protocol (2024-2029) implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde
Georgios Aftias, Isabel Benjumea Benjumea, Tomasz Buczek, Tamás Deutsch, Angéline Furet, Thomas Geisel, Jean-Marc Germain, Sandra Gómez López, Fabienne Keller, Janusz Lewandowski, Giuseppe Lupo, Ignazio Roberto Marino, Fernando Navarrete Rojas, Matjaž Nemec, Danuše Nerudová, Ruggero Razza, Bogdan Rzońca, Hélder Sousa Silva, Nicolae Ştefănuță, Joachim Streit, Carla Tavares, Nils Ušakovs, Auke Zijlstra
Substitutes present for the final vote
Moritz Körner, Tiago Moreira de Sá
Members under Rule 216(7) present for the final vote
Christophe Bay, Udo Bullmann, Andrzej Buła, Gheorghe Falcă, Ştefan Muşoiu, Jan-Christoph Oetjen
FINAL VOTE BY ROLL CALL IN COMMITTEE ASKED FOR BUDGETARY ASSESSMENT
26
+
ECR
Ruggero Razza, Bogdan Rzońca
NI
Thomas Geisel
PPE
Georgios Aftias, Isabel Benjumea Benjumea, Andrzej Buła, Gheorghe Falcă, Janusz Lewandowski, Fernando Navarrete Rojas, Danuše Nerudová, Hélder Sousa Silva
PfE
Tiago Moreira de Sá
Renew
Fabienne Keller, Moritz Körner, Jan-Christoph Oetjen, Joachim Streit
S&D
Udo Bullmann, Jean-Marc Germain, Sandra Gómez López, Giuseppe Lupo, Ştefan Muşoiu, Matjaž Nemec, Carla Tavares, Nils Ušakovs
Verts/ALE
Ignazio Roberto Marino, Nicolae Ştefănuță
5
–
PfE
Christophe Bay, Tomasz Buczek, Tamás Deutsch, Angéline Furet, Auke Zijlstra
Key to symbols:
+:in favour
–:against
0:abstention
OPINION OF THE COMMITTEE ON DEVELOPMENT (5.12.2024)
for the Committee on Fisheries
on the draft Council decision on the conclusion, on behalf of the European Union, of the Protocol (2024-2029) implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde
The Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde (FPA) entered into force on 30 March 2007 for a period of 5 years, being tacitly renewable. A previous 5-year Protocol to the FPA entered into force on 20 May 2019 and expired on 19 May 2024.
With a view to adopt a new Protocol to the FPA, the European Commission conducted negotiations with the Republic of Cabo Verde. Following these negotiations, a new Protocol was initialled on 15 April 2024. This new Protocol covers a period of five years, allowing Union vessels to access Cabo Verde’s fishing zone and to fish for tuna and associated species there, in compliance with the measures adopted by the International Commission for the Conservation of Atlantic Tunas (ICCAT). The aim is also to enhance cooperation between the EU and Cabo Verde, thereby creating a partnership framework within which to develop a sustainable fisheries policy and the responsible exploitation of fishery resources in Cabo Verde’s waters, in the interest of both Parties.
The EU’s financial contribution allocated to the Protocol is EUR 780 000 per year. This total is broken down into an annual amount of EUR 350 000 for access to fishery resources and another EUR 430 000 for the development of Cabo Verde’s sectoral fisheries policy, which represents an increase for sectoral support in comparison with the previous protocol.
Cabo Verde’s economy heavily relies on fisheries, which plays a crucial role in food security and employment for local communities. Artisanal fishing is vital for the livelihoods of many coastal communities. However, commercial fishing operations are also prominent targeting high-value species like tuna, which can affect local resources. Challenges such as overfishing, illegal fishing and climate change pose significant threats to fish stocks, marine ecosystems, and the livelihoods of local communities that depend on fishing. Furthermore, while women play a vital role in the fisheries sector of Cabo Verde, social norms and institutional barriers reinforce their marginalisation especially in rural areas. Overall, fisheries in Cabo Verde are a vital part of the economy and culture, and, therefore, there is a pressing need for sustainable management to ensure the long-term health of marine ecosystems and the communities that depend on them.
Your rapporteur takes the view that the Protocol promotes the responsible and sustainable exploitation of fisheries resources and the development of the national fisheries policy in Cabo Verde and is in the interest of both Parties. For this reason, your rapporteur is proposing that the protocol be approved.
*******
The Committee on Development calls on the Committee on Fisheries, as the committee responsible, to recommend approval of the draft Council decision on the conclusion, on behalf of the European Union, of the Protocol implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde (2024-2029).
ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT
The rapporteur for the opinion declares under her exclusive responsibility that she did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.
PROCEDURE – COMMITTEE ASKED FOR OPINION
Title
Conclusion, on behalf of the Union, of the Protocol (2024-2029) implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde
Barry Andrews, Robert Biedroń, Udo Bullmann, Rosa Estaràs Ferragut, Niels Geuking, Charles Goerens, György Hölvényi, Murielle Laurent, Reinhold Lopatka, Isabella Lövin, Lukas Mandl, Tiago Moreira de Sá, Kristoffer Storm, Marco Tarquinio
Members under Rule 216(7) present for the final vote
Monika Hohlmeier
FINAL VOTE BY ROLL CALL IN COMMITTEE ASKED FOR OPINION
15
+
ECR
Kristoffer Storm
PPE
Rosa Estaràs Ferragut, Niels Geuking, Monika Hohlmeier, Reinhold Lopatka, Lukas Mandl
PfE
György Hölvényi, Tiago Moreira de Sá
Renew
Barry Andrews, Charles Goerens
S&D
Robert Biedroń, Udo Bullmann, Murielle Laurent, Marco Tarquinio
Verts/ALE
Isabella Lövin
Key to symbols:
+:in favour
–:against
0:abstention
PROCEDURE – COMMITTEE RESPONSIBLE
Title
Conclusion, on behalf of the Union, of the Protocol (2024-2029) implementing the Fisheries Partnership Agreement between the European Community and the Republic of Cabo Verde
Sakis Arnaoutoglou, Thomas Bajada, Stephen Nikola Bartulica, Asger Christensen, Carmen Crespo Díaz, Ton Diepeveen, Paulo Do Nascimento Cabral, Siegbert Frank Droese, Nicolás González Casares, Anja Hazekamp, France Jamet, Isabelle Le Callennec, Isabella Lövin, Giuseppe Milazzo, Francisco José Millán Mon, Jessica Polfjärd, André Rodrigues, Bert-Jan Ruissen, Sander Smit, António Tânger Corrêa, Emma Wiesner
Substitutes present for the final vote
Oihane Agirregoitia Martínez, Mélissa Camara, Sofie Eriksson, Sebastian Everding
Members under Rule 216(7) present for the final vote
Kinga Kollár
Date tabled
30.1.2025
FINAL VOTE BY ROLL CALL BY THE COMMITTEE RESPONSIBLE
22
+
ECR
Stephen Nikola Bartulica, Giuseppe Milazzo, Bert-Jan Ruissen
PPE
Carmen Crespo Díaz, Paulo Do Nascimento Cabral, Kinga Kollár, Isabelle Le Callennec, Francisco José Millán Mon, Jessica Polfjärd, Sander Smit
PfE
Ton Diepeveen, António Tânger Corrêa
Renew
Oihane Agirregoitia Martínez, Asger Christensen, Emma Wiesner
S&D
Sakis Arnaoutoglou, Thomas Bajada, Sofie Eriksson, Nicolás González Casares, André Rodrigues
Mastercard has announced plans to remove the 16-digit number from their credit and debit cards by 2030 in a move designed to stamp out identity theft and fraudulent use of cards.
In 2022, Mastercard added biometric options enabling payments to be made with a smile or wave of the hand.
Tokenisation converts the 16-digit card number into a different number – or token – stored on your device, so card information is never shared when you tap your card or phone or make payments online.
The first rollout of these numberless cards will be through a partnership with AMP Bank, but it is expected other banks will follow in the coming 12 months.
Why card security is important
There is nothing quite like the sinking feeling after receiving a call or text from your bank asking about the legitimacy of a card transaction.
In 2023-2024 the total value of card fraud in Australia was A$868 million, up from $677.5 million the previous financial year.
Credit card numbers and payment details are often exposed in major data breaches affecting large and small businesses.
The cost of credit card fraud in Australia rose by almost $200 million last financial year. CC7/Shutterstock
Late last year, the US Federal Trade Commission took action against the Marriott and Starwood Hotels for lax data security. More than 300 million customers worldwide were affected.
Event ticketing company Ticketmaster was also hacked last year. The details of several hundred million customers, including names, addresses, credit card numbers, phone numbers and payment details were illegally accessed.
So-called “card-not-present fraud”, where an offender processes an unauthorised transaction without having the card in their physical possession, accounts for 92% of all card fraud in Australia. This rose 29% in the last financial year.
The Card Verification Value (CVV) (or three-digit number on the back of a credit card) aimed to ensure the person making the transaction had the physical card in their hands. But it is clearly ineffective.
Benefits of removing credit card numbers
Removing the credit card number is the latest attempt to curb fraud. Removing numbers stops fraudsters processing unauthorised card-not-present transactions.
It also reduces the potential for financial damage of victims exposed in data breaches, if organisations are no longer able to store these payment details.
Companies will no longer be able to store card data, reducing the risk of data breaches. ESBProfessional/Shutterstock
The storage of personal information is a contested issue. For example, the 2022 Optus data breach exposed information from customers who had previously held accounts with the telco back in 2018.
Removing the ability of organisations to store payment details in the first place, removes the risk of this information being exposed in any future attack.
While any efforts to reduce fraud are welcome, this new approach raises some new issues to consider.
Potential problems with the new system
Mastercard has said customers will use tokens generated by the customer’s banking app or biometric authentication instead of card numbers.
This is likely to be an easy transition for customers who use mobile banking.
However, the use of digital banking is not universal. Many senior consumers and those with a disability don’t use digital banking services. They would be excluded from the new protections.
While strengthening the security attached to credit cards, removing numbers shifts the vulnerability to mobile phones and telecommunication providers.
Offenders already access victims’ phones through mobile porting and impersonation scams. These attacks are likely to escalate as new ways to exploit potential vulnerabilities are found.
There are also concerns about biometrics. Unlike credit card details, which can be replaced when exposed in a data breach, biometrics are fixed. Shifting a focus to biometrics will increase the attractiveness of this data, and potentially opens victims up to ongoing, irreversible damage.
While not as common, breaches of biometric data do occur.
For example, web-based security platform BioStar 2 in the UK exposed the fingerprints and facial recognition details of over one million people. Closer to home, IT provider to entertainment companies Outabox is alleged to have exposed facial recognition data of more than one million Australians.
Will we really need cards in the future?
While removing the numbers may reduce credit card fraud, emerging smart retail technologies may remove the need for cards all together.
Smartphone payments are already becoming the norm, removing the need for physical cards. GlobalData revealed a 58% growth in mobile wallet payments in Australia in 2023, to $146.9 billion. In October 2024, 44% of payments were “device-present” transactions.
Amazon’s innovative “Just-Walk-Out” technology has also removed the need for consumers to bring a physical credit or debit card all together.
Amazon Go and the world’s most advanced shopping technology.
This technology is available at more than 70 Amazon-owned stores, and at more than 85 third-party locations across the US, UK, and Australia. These include sports stadiums, airports, grocery stores, convenience stores and college campuses.
The technology uses cameras, weight sensors and a combination of advanced AI technologies to enable shoppers in physical stores make purchases without having to swipe or tap their cards at the checkout line.
Such technology is now being offered by a variety of other vendors including Trigo, Cognizant and Grabango. It is also being trialled across other international retailers, including supermarket chains Tesco and ALDI.
While Just-Walk-Out removes the need to carry a physical card, at some point consumers still need to enter their cards details into an app. So, to avoid cards and numbers completely, smart retail tech providers are moving to biometric alternatives, like facial recognition payments.
Considering the speed at which smart retail and payment technology is entering the marketplace, it is likely physical credit cards, numberless or not, will soon become redundant, replaced by biometric payment options.
Gary Mortimer receives funding from the Building Employer Confidence and Inclusion in Disability Grant, AusIndustry Entrepreneurs’ Program, National Clothing Textiles Stewardship Scheme, National Retail Association, Australian Retailers Association. .
Cassandra Cross has previously received funding from the Australian Institute of Criminology and the Cybersecurity Cooperative Research Centre.
Defendant Exploited Vulnerabilities in the KyberSwap and Indexed Finance Decentralized Finance Protocols to Steal from Investors
An indictment was unsealed today in federal court in Brooklyn charging Andean Medjedovic with wire fraud, computer hacking and attempted extortion for stealing approximately $65 million in cryptocurrency from the KyberSwap and Indexed Finance decentralized finance (DeFi) protocols, which are sophisticated financial platforms residing on cryptocurrency blockchains. Medjedovic is also charged with laundering the proceeds of the theft. He is currently at large.
John J. Durham, United States Attorney for the Eastern District of New York; Antoinette Bacon, Supervisory Official of the Justice Department’s Criminal Division; Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service Criminal Investigation, New York (IRS-CI); James E. Dennehy, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI); and William S. Walker, Special Agent in Charge, Homeland Security Investigations New York (HSI) announced the indictment.
“As alleged, the defendant executed a highly sophisticated scheme to exploit two decentralized finance protocols and steal tens of millions of dollars’ worth of cryptocurrency from investors,” stated United States Attorney Durham. “My Office remains at the forefront in prosecuting cutting-edge cases involving new and emerging technologies, demonstrating our commitment to protecting all financial markets, including the digital assets markets. Criminals like the defendant who take advantage of new technologies to harm investors will be held accountable no matter where in the world they carry out their schemes.”
Mr. Durham expressed his appreciation to the United States Securities and Exchange Commission’s Crypto Assets and Cyber Unit for their valuable assistance during the investigation.
“This was a sophisticated fraud that exploited vulnerabilities in ‘smart contracts’, resulting in the theft of millions of dollars in cryptocurrency,” stated IRS-CI New York Special Agent in Charge Chavis. “It’s alleged that Medjedovic executed a hack that stole nearly $65 million in crypto between two schemes, leaving liquidity pool investors in the red. In investigating this case, IRS-CI New York’s Cyber group worked closely with its federal partners while leveraging resources from IRS-CI’s Cyber Attaché at Europol and the J5 Cyber Group. Even with the complexities of DeFi, we tracked down who is responsible for this large-scale theft, and he is now a wanted man.”
“Hackers can at times be painted in a flattering light by pop culture, some admiring their skills and acumen. They’re stealing money that isn’t theirs, and they’re breaking the laws of this country. We allege Andean Medjedovic violated several of those laws, and he, along with all the other cyber criminals who believe they’re untouchable, will face justice,” stated FBI Assistant Director in Charge Dennehy.
“These charges are a result of HSI New York’s determination to disrupt Andean Medjedovic’s alleged sophisticated far-reaching transnational cybercrime and seek justice for the millions of dollars syphoned from financial platforms,” stated HSI New York Special Agent in Charge Walker. “Our global reach, experience and extensive knowledge of the cyber domain allow us to rapidly develop investigations into bad actors who seek to exploit the cryptocurrency market. Our federal partnerships across the globe made this investigation a success to include support from the HSI attaché offices in the Netherlands.”
KyberSwap and Indexed Finance were developers of automated market-making services called “liquidity pools” that allowed users to swap cryptocurrency tokens with each other. The liquidity pools were managed by computer code called “smart contracts” and relied on investor contributions of cryptocurrency. As alleged, Medjedovic used manipulative trading to exploit vulnerabilities in the KyberSwap and Indexed Finance smart contracts. These manipulative trades enabled Medjedovic to drain approximately $65 million in cryptocurrency that belonged to investors from the KyberSwap and Indexed Finance liquidity pools.
The KyberSwap Exploit
As alleged in the indictment, in 2023, Medjedovic planned and executed a scheme to exploit vulnerabilities in the KyberSwap protocol. KyberSwap was a DeFi protocol and developer of liquidity pools on several public blockchains, including the Ethereum and Arbitrum networks. Liquidity pools use user-contributed cryptocurrency to facilitate trading and market-making in cryptocurrencies. The KyberSwap liquidity pools were managed by computer code or “smart contracts” called automated market makers or “AMMs,” which set prices in the KyberSwap liquidity pools.
In November 2023, Medjedovic exploited vulnerabilities in the KyberSwap computer code to drain the KyberSwap liquidity pools. Medjedovic used hundreds of millions of dollars in borrowed cryptocurrency to create artificial prices in the KyberSwap liquidity pools. Medjedovic then calculated precise combinations of trades that would cause the KyberSwap AMM to “glitch,” in his words, allowing him to steal tens of millions of dollars in cryptocurrency from the liquidity pools. In total, Medjedovic stole approximately $48.8 million in investors’ cryptocurrency from 77 KyberSwap liquidity pools on six public blockchains.
Following the exploit, Medjedovic attempted to extort the developers of the KyberSwap protocol, as well as KyberSwap’s investors and the members of the de-centralized autonomous organization or “DAO” that governed the KyberSwap protocol. Medjedovic demanded control of the KyberSwap protocol and the KyberSwap DAO in exchange for which he would return approximately 50% of the cryptocurrency that he had stolen.
Medjedovic also attempted to launder the proceeds of his theft, including through “bridge” protocols used to transfer cryptocurrency from one blockchain to another, and through a cryptocurrency “mixer” used to conceal the source of digital assets. After one bridge protocol froze several of his transactions, Medjedovic agreed to pay an undercover law enforcement agent posing as a software developer approximately $80,000 to circumvent the bridge protocol’s restrictions and release approximately $500,000 in stolen cryptocurrency.
The Indexed Finance Exploit
As alleged in the indictment, Medjedovic committed a similar exploit of the Indexed Finance DeFi protocol. Indexed Finance liquidity pools are referred to as “index pools,” and function similarly to a mutual fund or exchange-traded fund in traditional finance. Instead of holding a basket of traditional equities, the index pools held an index of digital tokens contributed by users.
In October 2021, Medjedovic used manipulative trading to exploit two Indexed Finance liquidity pools on the Ethereum network. Medjedovic used hundreds of millions of dollars in borrowed cryptocurrencies to distort a process called “re-indexing,” which was used by the Indexed Finance smart contracts to add a new token to the liquidity pools. Medjedovic used the borrowed cryptocurrency to engage in manipulative trading to cause the Indexed Finance smart contracts to set artificial prices during the re-indexing process. He then stole approximately $16.5 million in investor cryptocurrency from the liquidity pools.
Beginning after the Indexed Finance exploit, in or around 2022, Medjedovic conspired with another person to launder the proceeds of his illegal conduct through cryptocurrency exchange accounts that were opened using false information, and by using a cryptocurrency mixer. Among other things, Medjedovic maintained a step-by-step playbook for moving large amounts of cryptocurrency through the mixer, which he titled a “moneyMovementSystem.” In other documents, Medjedovic discussed circumventing “know your customer” or “KYC” procedures and using cryptocurrency exchange accounts opened with false KYC information for “hacks and cashing out.”
The charges in the indictment are allegations and the defendant is presumed innocent unless and until proven guilty.
The government’s case is being handled by the Office’s Business and Securities Fraud and National Security and Cybercrime Sections, with the Justice Department Criminal Division’s National Cryptocurrency Enforcement Team (NCET). Assistant U.S. Attorneys Nick M. Axelrod and Andrew D. Reich of the Eastern District of New York and NCET Trial Attorney Tian Huang of the Criminal Division’s Fraud Section are prosecuting the case with assistance from Paralegal Specialists Liam McNett and Madison Bates. SEC Enforcement Attorney Daphna A. Waxman, formerly a member of the NCET, provided significant assistance.
Valuable assistance was provided by the Justice Department’s Office of International Affairs. The Office thanks the Netherlands’ Public Prosecution Service and the Dutch National Police’s Cybercrime Unit in The Hague and United States Customs and Border Protection, New York Field Office.
JACKSON, Wyo., Feb. 03, 2025 (GLOBE NEWSWIRE) — Brand EngagementNetwork Inc. (“BEN” or the “Company”) (Nasdaq: BNAI), a global leader in secure and reliable conversational AI solutions, today announced that Paul Chang, CEO, will present live at the Small Cap Growth Virtual Investor Conference hosted by VirtualInvestorConferences.com, on February 6th, 2025.
DATE: February 6th TIME: 2:00 PM ET LINK:https://bit.ly/42JmFaP Available for 1×1 meetings: February 6th and 7th
This will be a live, interactive online event inviting investors to ask the company questions in real-time. If attendees cannot join the event live on the day of the conference, an archived webcast will also be made available after the event. It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates. Learn more about the event at www.virtualinvestorconferences.com.
Why BEN?
High-Growth Market Leader: BEN is positioned to capture opportunities in the $30B conversational AI industry with tailored, impactful solutions. Unlike generalist AI models that rely on expensive GPUs, BEN AI’s small language models run efficiently on CPUs, offering unmatched scalability and cost-effectiveness for businesses.
Proven Innovation and Technology: With 21 granted and 27 pending patents, BEN leads in personalization, adaptive AI, and secure integration. Cataneo’s MYDAS platform optimizes advertising for major broadcasters like Disney and BBC, unlocking new revenue streams.
Industry Versatility: BEN’s scalable AI-powered solutions transform customer engagement across industries, including automotive, healthcare, and media, creating measurable impact and value.
Commitment to Trust and Security: BEN AI ensures transparency, reliability, and U.S.-based data security with HIPAA and SOC2 compliance. Its Virginia-hosted servers and offline capabilities make it ideal for regulated industries like healthcare.
Visionary Leadership: BEN’s leadership team has the expertise to drive industry transformation and maintain its position at the forefront of customer engagement.
Recent Company Highlights:
Transformational Acquisition: BEN recently announced the acquisition of Cataneo GmbH, a media technology leader managing over €5 billion in annual media spend. This $19.5 million deal combines BEN’s Generative AI with Cataneo’s Mydas platform, setting a new benchmark in global media engagement and interactive advertising.
Strategic Partnerships: The Company has partnered with Kangaroo Health, IntelliTek, and INTERVENT to advance AI-driven solutions in healthcare, enhancing patient engagement, chronic care management, and operational efficiency.
Expanding Market Reach: BEN continues to explore new verticals and applications for its AI solutions, positioning the company to capture untapped opportunities and deliver sustained growth.
About BEN Brand Engagement Network Inc. is a global leader in providing secure and reliable conversational AI solutions for businesses and consumers. With offices in Jackson, Wyoming, and Seoul, South Korea, BEN offers a powerful and flexible platform that enhances customer experiences, boosts productivity, and delivers business value. At the heart of BEN’s offerings are AI-powered digital assistants and lifelike avatars, providing more personal and engaging experiences through browsers, mobile applications, and even life-size kiosks. These safe, intelligent, and inherently scalable AI solutions empower businesses to efficiently serve customers using validated data delivered through SaaS, Private Cloud, and On-Premises technology. BEN’s commitment to data sovereignty ensures that consumer and business data remain private, protected, and wholly owned by the respective parties. BEN’s mission is to make AI friendly and helpful for all, ensuring more people benefit from the AI-enhanced world. For more information about BEN’s safe, intelligent, scalable AI, please visit www.beninc.ai.
About Virtual Investor Conferences® Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact Amy Rouyer E: amy@beninc.ai P: 503-367-7596
Virtual Investor Conferences John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts and involve risks and uncertainties that could cause actual results of BEN to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “anticipates,” “believes,” “continue,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” or “would,” or, in each case, their negative or other variations or comparable terminology.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside BEN’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in BEN’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q subsequently filed with the Securities and Exchange Commission.
BEN cautions that the foregoing list of factors is not exclusive. BEN cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEN does not undertake nor does it accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and it does not intend to do so unless required by applicable law. Further information about factors that could materially affect BEN, including its results of operations and financial condition, is set forth under “Risk Factors” in BEN’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q subsequently filed with the Securities and Exchange Commission.
Governor Kathy Hochul today announced that 22 farms have been awarded over $15.8 million in funding through the first round of the Concentrated Animal Feeding Operation (CAFO) Enhanced Nutrient and Methane Management Program (CAFO ENMP). Funding from the program will go toward projects that help farmers protect water quality and mitigate the impacts of climate change by reducing greenhouse gas emissions. Funding for this program was announced as part of the Governor’s 2024 State of the State and builds on the commitment that Governor Hochul has made to support dairy farm modernization and sustainability.
“The dairy industry is a cornerstone of New York’s economy, thanks to the dedication of dairy farmers and manufacturers across the state whose work has made this commodity New York’s largest agricultural sector,” Governor Hochul said. “I am proud to help our farmers reduce their carbon footprint while continuing to put world-class products on the tables of New Yorkers for generations to come.”
Through the first round of funding, the program will help CAFO-permitted farmers implement projects that enhance manure management systems that sequester carbon and conserve manure nutrients applied to fields and soil to protect water quality. The program also supports advancements in precision feed management to balance nutrients and reduce methane emissions. The estimated Greenhouse Gas (GHG) reduction for all projects is 122,833 MTCO2e a year, the equivalent of taking 28,651 gas powered vehicles off the road for one year.
A total of 22 projects have been awarded through the State’s Soil and Water Conservation Districts via two funding tracks. Seventeen projects were awarded in Track A, which will go toward Nutrient and GHG Management Best Management Practices Systems. Five projects were awarded in Track B, which will go toward Manure Storage Cover and Flare Projects and associated practices. The awards are as follows:
Capital Region
$11,414.38 awarded to the Saratoga County Soil and Water Conservation District to work with one farm in the Hudson-Hoosic Watershed.
Central New York
$1,025,759.00 awarded to the Cortland County Soil and Water Conservation District to work with two farms in the Chenango Watershed.
$293,850.00 awarded to the Madison County Soil and Water Conservation District to work with one farm in the Oneida Lake Watershed.
Finger Lakes
$3,192,578.00 awarded to the Ontario County Soil and Water Conservation District to work with three farms in the Seneca Watershed.
$2,167,334.00 awarded to the Ontario County Soil and Water Conservation District to work with one farm in the Chemung Watershed.
$1,248,588.05 awarded to the Wyoming County Soil and Water Conservation District to work with three farms in the Upper Genesee Watershed.
$608,987.20 awarded to the Wyoming County Soil and Water Conservation District to work with one farm in the Lower Genesee Watershed.
$246,900.00 awarded to the Genesee County Soil and Water Conservation District to work with one farm in the Oak Orchard – Twelve Mile Creek Watershed.
Mohawk Valley
$942,162.50 awarded to the Montgomery County Soil and Water Conservation District to work with one farm in the Mohawk Watershed.
$741,861.35 awarded to Herkimer County Soil and Water Conservation District to work with one farm in the Mohawk Watershed.
$98,483.68 awarded to the Oneida County Soil and Water Conservation District to work with one farm in the Mohawk Watershed.
$54,611.89 awarded to Oneida County Soil and Water Conservation District to work with one farm in the Oneida Lake Watershed.
North Country
$810,571.00 awarded to the Clinton County Soil and Water Conservation District to work with one farm in the Lake Champlain Watershed.
$526,926.21 awarded to the Franklin County Soil and Water Conservation District to work with one farm in the St. Lawrence Watershed.
$457,056.00 awarded to the St. Lawrence County Soil and Water Conservation District to work with one farm in the St. Lawrence Watershed.
Western New York
$1,909,650.00 awarded to the Cattaraugus County Soil and Water Conservation District to work with one farm in the Cattaraugus Watershed.
$1,470,815.00 awarded to the Chautauqua County Soil and Water Conservation District to work with one farm in the Chautauqua-Conneaut Watershed.
Full project descriptions are available here.
New York State Department of Agriculture and Markets Commissioner Richard Ball said, “New York State is home to some of the most passionate dairy farmers who are not only producing and processing some of the very best dairy products in the world, but also working hard to leave the industry better for future generations. This funding is a true testament to the value of helping our farmers transition to climate-safe practices that preserve our natural resources while continuing to protect their businesses and nourish our communities. I want to thank our Soil and Water Districts and our farmers for the work they’re doing, and I look forward to seeing these projects come to fruition.”
New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “DEC applauds Governor Hochul’s continued investments to bolster the sustainability of New York’s agricultural industry and provide resources to farmers who serve as crucial partners in the conservation of land and other natural resources. DEC’s requirements play an important role in protecting water quality and this funding will help ensure best management practices are in place and nutrient management plans implemented on livestock farms.”
New York State Soil and Water Conservation Committee Chair Matt Brower said, “The requirements for the CAFO General Permit can result in significant financial and management challenges for farm operations in New York. Having these funds available to farmers is important to help them meet those challenges, while also improving water quality and addressing climate change concerns. We are fortunate to have such a great partnership between the farmers and the local Soil and Water Conservation Districts, which makes the planning and implementation of the projects possible. The State Soil and Water Conservation Committee greatly appreciates the efforts of the Districts.”
Senator Michelle Hinchey said, “New York dairy is a pillar of our state’s economy, as our largest agricultural sector and a critical job creator in rural communities and beyond. Clean air, water, and healthy soil are fundamental to thriving farm businesses and, therefore, a reliable food supply. Our state has a major stake in providing direct financial support to dairy farmers who are pioneering climate-forward practices that protect our environment and reduce emissions. The CAFO Enhanced Nutrient and Methane Management Program we established last year is helping make that happen and we congratulate the farmers across New York State whose projects have received funding in this first round.”
Assemblymember Donna Lupardo said, “As a major producer of safe and nutritious food, the dairy industry is a critical part of New York’s agricultural economy. I’m glad to see 22 farms benefit from funding that will help them reduce their carbon footprint and assist with milk storage technologies. For both our climate and our food supply, it’s important that we continue to support our dairy producers through initiatives like these.”
New York Farm Bureau President David Fisher said, “As the fifth-largest dairy producer in the United States, New York is a powerhouse in the industry, ranking number one in cottage cheese, sour cream and yogurt production. And, as stewards of the land, dairy farmers have a vested interest in protecting soil and water quality, reducing their carbon footprint and implementing modern technology to preserve farming for future generations. By awarding CAFO ENMP funding to soil and water conservation districts across the state, Gov. Hochul is sending a strong message that dairy farmers are trusted partners in sustainability and environmental health.”
Under the Governor’s leadership, the Fiscal Year (FY) 2025 Budget included additional funding to help boost the dairy industry, including $34 million in capital funding over two years to expand on-farm milk storage capacity, improve efficiencies, invest in milk transfer systems, cooling technologies, and other projects to further opportunities for dairy farmers to transport or store their products.
The FY 2025 Budget also included a nearly $82 investment in agricultural stewardship programs and initiatives, such as the Climate Resilient Farming grant program, that are helping farms to implement environmentally sustainable practices and combat climate change. In her 2025 State of the State Address, Governor Hochul proposed additional funding to research and implement climate-resilient practices on dairy farms.
About the Dairy Industry in New York State
New York State is home to nearly 3,000 dairy producers that produce 16.1 billion pounds of milk annually, making New York the nation’s fifth largest dairy state. With dairy farming accounting for half of the state’s agricultural economy, New York’s unique and talented dairy producers and processors provide significant contributions to New York’s agriculture industry, the economy, and to the health of our communities.
We are in a rapidly changing visual culture where it is increasingly inadequate to take images at face value.
There is an ever-increasing prevalence of image manipulation and AI imagery. And in the attention economy, our attention has become a precious, sought-after resource. Images participate in this redirection of our attention with an endless production line of new, stimulating content to maximise user engagement.
In this environment, there is an increasing demand to prioritise visual literacy with the same rigour as we do with writing and reading.
We need to look more closely at images – to practise slow looking.
What is it you’re looking at?
The act of slow looking involves taking a pause and thoroughly describing what you see.
Often, we jump to the image’s meaning by identifying its contents. But it is important to discern what the image actually “looks like” and how this influences its reading.
The aim of looking slowly is not just to verify what is real, fake or AI. After all, there will become a time when it is too difficult and time-consuming for the average person to determine every AI-generated image without a watermark or label.
While the ability to detect whether something is AI is one important skill, this should not be the only reason to practise slow looking. To only determine if it is fake or real can ignore what an AI image can also tell us about our cultural climate.
In December, Madonna shared a deepfake of her embracing the Pope from digital artist RickDick.
Satirical images of the pope have a long history. As early as the 16th century, artists depicted the head of the Catholic Church alongside the profane as a means of critique and provocation.
RickDick’s deepfakes, in their eerie sense of realness, prove a new means to continue to satirise and provoke viewers in the digital age. We can deduce on close inspection that these images of Madonna and the Pope are not real photographs, but we can look even further to also discern what nevertheless gives these AI images their potency.
Fake or not, the lifelike, intimate embrace of the two icons probes an old but ongoing friction between perceived acts of blasphemy in pop culture and the sacred authority of the church.
In this etching from 1555, the Pope has three heads: one wears the papal tiara, one wears a turban, and one is an infant. The Metropolitan Museum of Art
The act of slow looking develops visual literacy. It examines why certain images go viral, why some move us above others and what they say about our reality, values or beliefs.
Beginning to look slowly
To begin this practice, imagine you are trying to describe an image to a friend who cannot see it. What’s happening in the image? What is its scale? What colours are used? How is it made? Where and how are you viewing it – on your phone, a billboard or poster?
Adopt a questioning stance to spot possible biases or blind spots – your own, or of the creator of the image. What is possibly missing from the image? Whose perspective is it or isn’t it showing?
This process can be significantly enhanced through using your hands: draw or paint what you see. It doesn’t need to be expensive or time-consuming. Nor do you need to be “good” at it. Drawing on a scrap piece of paper with an old ballpoint pen you have on your desk for even just a few minutes can connect the mind and body into a deep awareness of your visual field.
Try drawing what you see, to really examine it and have a deeper connection with it. Eepeng Cheong/Unsplash
Pick anything to draw from your immediate surroundings or screens. This is all about the process: it is not the goal to have a finished artwork.
Key details that weren’t apparent before will emerge through this creative practice and help you analyse how an image works, why it is or isn’t engaging and what are its multiple possible meanings.
Slowing down
That we should look more slowly in our fast-paced, oversaturated visual culture is not a new concept, especially in the art community.
These events often take the form of a guided tour and provide prompts to build the viewer’s analytical skills, with the additional benefit of building a communal engagement to look slowly together.
We are all creators and consumers of images. It is important for all of us to reflect on where our attention is being directed, and why, in the constant flood of images.
We have a shared responsibility in how we examine images. Now, more than ever, our visual literacy would benefit from creative practices to slow us down. At both individual and collective levels, we should prioritise looking intently at how our images remember the past, define our present, and envision the future.
Sienna van Rossum 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.
In January, the United States’ Office of the Surgeon General, the country’s leading public health spokesperson, recommended warnings about alcohol’s cancer risks should be displayed on drink packaging.
So, do they work? And should we mandate them here?
Isn’t a glass of wine or two good for me?
Most of us know heavy drinking is unhealthy.
Yet the belief a few glasses of wine helps protect against heart disease and other conditions has persisted. That is despite evidence in recent years showing the benefits have been overestimated and the harms underplayed.
In fact, any level of alcohol use increases the risk for several types of cancer, including colorectal cancer (affecting the large intestine and rectum) and breast cancer.
One study estimated how many new cancer cases will develop across the lifetimes of the 18.8 million Australian adults who were alive in 2016. It predicted a quarter of a million (249,700) new cancers – mostly colorectal – will arise due to alcohol.
We know what causes this harm. For example, acetaldehyde – a chemical produced by the body when it processes alcohol – is carcinogenic.
Alcohol also increases cancer risk through “oxidative stress”, an imbalance in the body’s antioxidants and free radicals which causes damage to DNA and inflammation.
It can also affect hormone levels, which raises the risk for breast cancer in particular.
Australians unaware of the risk
While the harms are well-known to researchers, many Australians remain unaware.
This follows Ireland, the first country to mandate cancer labels for alcohol. From 2026, alcohol packaging will include the warning: “there is a direct link between alcohol and fatal cancers”.
Since 2017, alcohol producers in South Korea have had to choose between three compulsory warning labels – two of which warn of cancer risks. However they can instead opt for a label which warns about alcohol’s risks for dementia, stroke and memory loss.
Currently, whether to include warnings about alcohol’s general health risks is at the discretion of the manufacturer.
Many use vague “drink responsibly” messages or templates provided by DrinkWise, an organisation funded by the alcohol industry.
Pregnancy warning labels (“Alcohol can cause lifelong harm to your baby”) only became obligatory in 2023. Although this covers just one of alcohol’s established health effects, it has set an important precedent.
We now have a template for how introducing cancer and other health warnings might work.
Cancer warnings already feature on some tobacco products in Australia. Galexia/Shutterstock
Would it work?
We know the existing “drink responsibly”-style warnings are not enough. Research shows consumers find these messages ambiguous.
But would warnings about cancer be an improvement? Ireland’s rules are yet to come into effect, and it’s too early to tell how well South Korea’s policy has worked (there are also limitations give manufacturers can choose a warning not related to cancer).
But a trial of cancer warnings in one Canadian liquor store found they increased knowledge of the alcohol–cancer link by 10% among store customers.
Cancer messages would likely increase awareness about risks. But more than that – a 2016 study that tested cancer warnings on a group of 1,680 adults across Australia found they were also effective at reducing people’s intentions to drink.
It may take years before Australia changes its rules on alcohol labelling.
In the meantime, it’s important to familiarise yourself with the current national low-risk drinking guidelines, which aim to minimise harm from alcohol across a range of health conditions.
Rachel Visontay receives funding from the University of Sydney and the University of New South Wales.
Louise Mewton receives funding from the National Institutes of Health (NIH), Dementa Australia, Australian Rotary Health, National Health and Medical Research Council (NHMRC), Australian Government Department of Health and Aged Care (DoHAC).
At the next meeting of the Eurasian Intergovernmental Council, which was held in Almaty, an Agreement on cross-border admission to the placement and circulation of securities in organized trading in the EAEU member states was signed.
This is the first document aimed at regulating the securities market in order to build a common financial market in the territory of the union countries.
The agreement provides an opportunity for exchanges from the EAEU member states to list securities of issuers from other countries of the union on terms no less favourable than for “their” issuers.
Preview photo: TippaPatt / Shutterstock / Fotodom
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
A five-count criminal indictment was unsealed today in federal court in New York charging a Canadian man with exploiting vulnerabilities in two decentralized finance protocols to fraudulently obtain about $65 million from the protocols’ investors.
According to court documents, from 2021 to 2023, Andean Medjedovic, 22, allegedly exploited vulnerabilities in the automated smart contracts used by the KyberSwap and Indexed Finance decentralized finance protocols. Medjedovic borrowed hundreds of millions of dollars in digital tokens, which he used to engage in deceptive trading that he knew would cause the protocols’ smart contracts to falsely calculate key variables. Through his deceptive trades, Medjedovic was able to, and ultimately did, withdraw millions of dollars of investor funds from the protocols at artificial prices, rendering the victims’ investments essentially worthless.
Medjedovic also allegedly laundered the proceeds of his fraudulent schemes through a series of transactions designed to conceal the source and ownership of the funds, including through swap transactions, “bridging transactions,” and the use of a digital assets “mixer.” With others, Medjedovic also allegedly schemed to open accounts with digital assets exchanges using false and borrowed identifying information to conceal the source and true ownership of the proceeds. In around November 2023, after executing the KyberSwap exploit, Medjedovic also allegedly attempted to extort the victims of the KyberSwap exploit through a sham settlement proposal, in which he demanded complete control of the KyberSwap protocol and the decentralized autonomous organization that oversaw the KyberSwap protocol in exchange for returning 50 percent of the digital assets that he fraudulently obtained through his scheme.
Medjedovic is charged with one count of wire fraud, one count of unauthorized damage to a protected computer, one count of attempted Hobbs Act extortion, one count of money laundering conspiracy, and one count of money laundering. If convicted, he faces a maximum penalty of 10 years in prison on the unauthorized damage to a protected computer count and 20 years in prison on each of the other counts. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division, U.S. Attorney John J. Durham for the Eastern District of New York, Chief Guy Ficco of IRS Criminal Investigation (IRS-CI), Special Agent in Charge William S. Walker of Homeland Security Investigations (HSI) New York, and Assistant Director in Charge James E. Dennehy of the FBI New York Field Office made the announcement.
IRS-CI, HSI, and the FBI New York Field Office are investigating the case, with valuable assistance provided by U.S. Customs and Border Protection’s New York Field Office and the Justice Department’s Office of International Affairs. The Justice Department also thanks the Netherlands’ Public Prosecution Service and Cybercrime Unit — the Hague of the Dutch National Police for their significant assistance with the investigation.
Trial Attorney Tian Huang of the Criminal Division’s Fraud Section, who is a member of the National Cryptocurrency Enforcement Team (NCET), and Assistant U.S. Attorneys Nicholas Axelrod and Andrew Reich for the Eastern District of New York are prosecuting the case. SEC Enforcement Attorney Daphna A. Waxman, formerly a member of the NCET, provided significant assistance.
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
A five-count criminal indictment was unsealed today in federal court in New York charging a Canadian man with exploiting vulnerabilities in two decentralized finance protocols to fraudulently obtain about $65 million from the protocols’ investors.
According to court documents, from 2021 to 2023, Andean Medjedovic, 22, allegedly exploited vulnerabilities in the automated smart contracts used by the KyberSwap and Indexed Finance decentralized finance protocols. Medjedovic borrowed hundreds of millions of dollars in digital tokens, which he used to engage in deceptive trading that he knew would cause the protocols’ smart contracts to falsely calculate key variables. Through his deceptive trades, Medjedovic was able to, and ultimately did, withdraw millions of dollars of investor funds from the protocols at artificial prices, rendering the victims’ investments essentially worthless.
Medjedovic also allegedly laundered the proceeds of his fraudulent schemes through a series of transactions designed to conceal the source and ownership of the funds, including through swap transactions, “bridging transactions,” and the use of a digital assets “mixer.” With others, Medjedovic also allegedly schemed to open accounts with digital assets exchanges using false and borrowed identifying information to conceal the source and true ownership of the proceeds. In around November 2023, after executing the KyberSwap exploit, Medjedovic also allegedly attempted to extort the victims of the KyberSwap exploit through a sham settlement proposal, in which he demanded complete control of the KyberSwap protocol and the decentralized autonomous organization that oversaw the KyberSwap protocol in exchange for returning 50 percent of the digital assets that he fraudulently obtained through his scheme.
Medjedovic is charged with one count of wire fraud, one count of unauthorized damage to a protected computer, one count of attempted Hobbs Act extortion, one count of money laundering conspiracy, and one count of money laundering. If convicted, he faces a maximum penalty of 10 years in prison on the unauthorized damage to a protected computer count and 20 years in prison on each of the other counts. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division, U.S. Attorney John J. Durham for the Eastern District of New York, Chief Guy Ficco of IRS Criminal Investigation (IRS-CI), Special Agent in Charge William S. Walker of Homeland Security Investigations (HSI) New York, and Assistant Director in Charge James E. Dennehy of the FBI New York Field Office made the announcement.
IRS-CI, HSI, and the FBI New York Field Office are investigating the case, with valuable assistance provided by U.S. Customs and Border Protection’s New York Field Office and the Justice Department’s Office of International Affairs. The Justice Department also thanks the Netherlands’ Public Prosecution Service and Cybercrime Unit — the Hague of the Dutch National Police for their significant assistance with the investigation.
Trial Attorney Tian Huang of the Criminal Division’s Fraud Section, who is a member of the National Cryptocurrency Enforcement Team (NCET), and Assistant U.S. Attorneys Nicholas Axelrod and Andrew Reich for the Eastern District of New York are prosecuting the case. SEC Enforcement Attorney Daphna A. Waxman, formerly a member of the NCET, provided significant assistance.
An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
BIRMINGHAM, United Kingdom, Feb. 03, 2025 (GLOBE NEWSWIRE) — DDB Miner is making headlines with its latest innovation in cloud mining, combining sustainability with high profitability. As the cryptocurrency market expands, DDB Miner is leading the charge by harnessing renewable energy to power its mining operations. This groundbreaking approach not only reduces costs but also integrates surplus electricity into the grid, allowing investors to maximize their returns effortlessly.
The Rise of New Energy Cloud Mining
Cloud mining has become a preferred choice for cryptocurrency enthusiasts due to its accessibility and convenience. Unlike traditional mining, which requires expensive hardware and technical expertise, cloud mining allows users to participate in crypto mining effortlessly. DDB Miner simplifies this process by enabling users to rent mining algorithms from remote data centers and receive a share of the profits without managing complex setups.
DDB Miner: Simplified Cloud Mining for Maximum Profit
DDB Miner takes cloud mining to the next level with a user-friendly platform designed for both beginners and seasoned investors. With over 100 mining farms worldwide and more than 500,000 mining devices powered by renewable energy, DDB Miner has earned the trust of over 9 million users. The platform’s seamless experience ensures that anyone can participate in crypto mining, turning passive income dreams into reality.
Unprecedented Earning Potential
What sets DDB Miner apart is its high-yield potential. Users can earn up to $7,950 per day, making it one of the most lucrative cloud mining platforms available. This passive income model allows investors to generate substantial earnings without requiring extensive knowledge or involvement in the mining process.
Security and Sustainability: A Trustworthy Investment
Security and transparency are at the core of DDB Miner’s operations. The platform ensures user funds are protected while maintaining compliance with industry regulations. By utilizing clean energy sources, DDB Miner not only maximizes profits but also minimizes its environmental footprint, making it a truly sustainable investment opportunity.
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Visit the official website:https://ddbminer.com Download the mobile app from: Google Play or Apple Store.
Disclaimer: This press release is provided by “DDB Miner”. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.
For much of the 20th century, efforts to remake government were driven by a progressive desire to make the government work for regular Americans, including the New Deal and the Great Society reforms.
But they also met a conservative backlash seeking to rein back government as a source of security for working Americans and realign it with the interests of private business. That backlash is the central thread of the Heritage Foundation’s “Project 2025” blueprint for a second Trump Administration.
But Project 2025 does so with particular detail and urgency, hoping to galvanize dramatic change before the midterm elections in 2026. As its foreword warns: “Conservatives have just two years and one shot to get this right.”
The standard for a transformational “100 days” – a much-used reference point for evaluating an administration – belongs to the first administration of Franklin D. Roosevelt.
President Franklin D. Roosevelt signs the Social Security Bill in Washington on Aug. 14, 1935. AP Photo, file
Social reforms and FDR
In 1933, in the depths of the Great Depression, Roosevelt faced a nation in which business activity had stalled, nearly a third of the workforce was unemployed, and economic misery and unrest were widespread.
But Roosevelt’s so-called “New Deal” unfolded less as a grand plan to combat the Depression than as a scramble of policy experimentation.
Roosevelt did not campaign on what would become the New Deal’s singular achievements, which included expansive relief programs, subsidies for farmers, financial reforms, the Social Security system, the minimum wage and federal protection of workers’ rights.
A generation later, another wave of social reforms unfolded in similar fashion. This time it was not general economic misery that spurred actions, but the persistence of inequality – especially racial inequality – in an otherwise prosperous time.
LBJ’s Great Society
President Lyndon B. Johnson’s Great Society programs declared a war on poverty and, toward that end, introduced a raft of new federal initiatives in urban, education and civil rights.
As with the New Deal, the substance of these policies rested less with national policy designs than with the aspirations and mobilization of the era’s social movements.
Resistance to policy change
Since the 1930s, conservative policy agendas have largely taken the form of reactions to the New Deal and the Great Society.
The central message has routinely been that “big government” has overstepped its bounds and trampled individual rights, and that the architects of those reforms are not just misguided but treasonous. Project 2025, in this respect, promises not just a political right turn but to “defeat the anti-American left.”
After the 1946 midterm elections, congressional Republicans struck back at the New Deal. Drawing on business opposition to the New Deal, popular discontent with postwar inflation, and common cause with Southern Democrats, they stemmed efforts to expand the New Deal, gutting a full employment proposal and defeating national health insurance.
They struck back at organized labor with the 1947 Taft-Hartley Act, which undercut federal law by allowing states to pass anti-union “right to work” laws. And they launched an infamous anti-communist purge of the civil service, which forced nearly 15,000 people out of government jobs.
In 1971, the U.S. Chamber of Commerce commissioned Lewis Powell – who would be appointed by Republican President Richard Nixon to the Supreme Court the next year – to assess the political landscape. Powell’s memorandum characterized the political climate at the dawn of the 1970s – including both Great Society programs and the anti-war and Civil Rights movements of the 1960s – as nothing less than an “attack on the free enterprise system.”
In a preview of current U.S. politics, Powell’s memorandum devoted special attention to a disquieting “chorus of criticism” coming from “the perfectly respectable elements of society: from the college campus, the pulpit, the media, the intellectual and literary journals, the arts and sciences, and from politicians.”
Powell characterized the social policies of the New Deal and Great Society as “socialism or some sort of statism” and advocated the elevation of business interests and business priorities to the center of American political life.
A copy of Project 2025 is held during the Democratic National Convention on Aug. 21, 2024, in Chicago. AP Photo/J. Scott Applewhite
Building a conservative infrastructure
Powell captured the conservative zeitgeist at the onset of what would become a long and decisive right turn in American politics. More importantly, it helped galvanize the creation of a conservative infrastructure – in the courts, in the policy world, in universities and in the media – to push back against that “chorus of criticism.”
In national politics, the conservative resurgence achieved full expression in President Ronald Reagan’s 1980 campaign. The “Reagan Revolution” united economic and social conservatives around the central goal of dismantling what was left of the New Deal and Great Society.
Publicly, the Reagan administration argued that tax cuts would pay for themselves, with the lower rates offset by economic growth. Privately, it didn’t matter: Either growth would sustain revenues, or the resulting budgetary hole could be used to “starve the beast” and justify further program cuts.
Project 2025, the latest in this series of blueprints for dramatic change, draws most deeply on two of those plans.
As in the congressional purges of 1940s, it takes aim not just at policy but at the civil servants – Trump’s “deep state” – who administer it.
In the wake of World War II, the charge was that feckless bureaucrats served Soviet masters. Today, Project 2025 aims to “bring the Administrative State to heel, and in the process defang and defund the woke culture warriors who have infiltrated every last institution in America.”
Whatever their source – party platforms, congressional bomb-throwers, think tanks, private interests – the success or failure of these blueprints rested not on their vision or popular appeal but on the political power that accompanied them. The New Deal and Great Society gained momentum and meaning from the social movements that shaped their agendas and held them to account.
The lineage of conservative responses has been largely an assertion of business power. Whatever populist trappings the second Trump administration may possess, the bottom line of the conservative cultural and political agenda in 2025 is to dismantle what is left of the New Deal or the Great Society, and to defend unfettered “free enterprise” against critics and alternatives.
Colin Gordon receives funding from the National Endowment for the Humanities, the Mellon Foundation, and the Russell Sage Foundation.
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Dmitry Chernyshenko held a meeting of the organizing committee for the preparation and holding of the International Financial Security Olympiad
February 3, 2025
Dmitry Chernyshenko held a meeting of the organizing committee for the preparation and holding of the International Financial Security Olympiad
February 3, 2025
Dmitry Chernyshenko held a meeting of the organizing committee for the preparation and holding of the International Financial Security Olympiad
February 3, 2025
Dmitry Chernyshenko held a meeting of the organizing committee for the preparation and holding of the International Financial Security Olympiad
February 3, 2025
Dmitry Chernyshenko held a meeting of the organizing committee for the preparation and holding of the International Financial Security Olympiad
February 3, 2025
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Dmitry Chernyshenko held a meeting of the organizing committee for the preparation and holding of the International Financial Security Olympiad
The first meeting of the organizing committee for the preparation and holding of the International Financial Security Olympiad in 2025 was held under the chairmanship of Deputy Prime Minister Dmitry Chernyshenko.
Dmitry Chernyshenko noted that the Olympiad has been held for the fifth year with the support of President Vladimir Putin. Interest in it grows every year.
In 2023, the head of state personally met with the participants of the third Olympiad finals, as a result of which the International Movement for Financial Security was created – representatives of 36 countries are participating in it.
“Over four years, more than 1,900 people have taken part in the final stage of the Olympiad, including 514 prize winners and winners. President Vladimir Putin has decided to organize the final stage of the Olympiad in different regions. In 2025, Krasnoyarsk has been chosen as the venue. The Olympiad is celebrating its first anniversary, and during this time it has acquired its own list of events and traditions. I believe that they should be expanded. Each new host city will make more and more new proposals,” the Deputy Prime Minister emphasized.
Dmitry Chernyshenko and Director of Rosfinmonitoring Yuri Chikhanchin thanked the educational foundation “Talent and Success” and its director Elena Shmeleva, the federal territory “Sirius”, the administration of Krasnodar Krai and the city of Sochi, as well as the Plenipotentiary Representative of the President of Russia in the Southern Federal District for their assistance in organizing the first four Olympiads.
Yuri Chikhanchin noted the need to expand the geography of the Olympiad, as well as to attract more interested countries to conduct the thematic lesson “Financial Security”, which in 2025 is dedicated to the problem of droppering (a fraudulent scheme for cashing out funds).
“Interest of foreign countries in our Olympiad is growing. Schoolchildren and students from 36 countries, members of the CIS, BRICS, SCO and other international organizations, took part in the final of the fourth Olympiad. This year, new countries are going to fully participate in the Olympiad stages,” said the director of Rosfinmonitoring.
Following the meeting, Dmitry Chernyshenko supported this idea and instructed to work on the issue of increasing the representation of countries.
In 2025, the Siberian Federal University will be the venue for the Olympiad in Krasnoyarsk. Events for experts will traditionally be held on the sidelines of the finals.
Governor of Krasnoyarsk Krai Mikhail Kotyukov noted that it is a great honor for the region to host the final stage of the Financial Security Olympiad, and expressed gratitude to the President of the country for supporting the idea of holding the competition in the region. Mikhail Kotyukov emphasized that the region has extensive experience in holding major events of federal and international scale (including the XXIX World Winter Universiade 2019), all the necessary infrastructure, which will allow organizing the main part of the Olympiad final, as well as its sports and cultural program, at a high level.
From February 1 to 28, the invitational stage of the fifth Olympiad is being held in Russian and English on the international social and educational platform “Commonwealth”. Pupils of grades 8-11 and students are invited to participate first. Upon completion of the stage, participants who have completed the tasks will receive a certificate. To participate, you must register on the platformKHTTPS: // Society. Org/ru.
The meeting of the organizing committee was attended by the Director of the Federal Service for Financial Monitoring Yuri Chikhanchin, Deputy Minister of Science and Higher Education Dmitry Afanasyev, Governor of Krasnoyarsk Krai Mikhail Kotyukov, representatives of the Administration of the President of Russia, the Ministry of Education, the Ministry of Foreign Affairs of Russia, Rossotrudnichestvo, ANO National Priorities, financial organizations and rectors of universities participating in the Olympiad.
The lesson “Financial Security” will be held from February 1 to April 30, 2025. The invitational stage of the Olympiad – from February 1 to 28, 2025. The selection stage will consist of two rounds: the first round – from March 31 to April 4, 2025, the second round – from April 9 to 15, 2025. The qualification stage – from August 1 to September 3, 2025. The final stage will be held in person from September 28 to October 3, 2025.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
MARIETTA, Pa., Feb. 03, 2025 (GLOBE NEWSWIRE) — Donegal Group Inc. (NASDAQ:DGICA) and (NASDAQ:DGICB) announced today that it plans to release its results for fourth quarter and full-year ended December 31, 2024, on Thursday, February 20, 2025, before the opening of regular trading on the NASDAQ Stock Market. The Company will provide a supplemental investor presentation in the Investors section of its website at investors.donegalgroup.com, concurrently with its earnings press release.
At approximately 8:30 am ET on Thursday, February, 20, 2025, the Company will make available in the Investors section of its website a pre-recorded audio webcast featuring management commentary by Kevin Burke, President and Chief Executive Officer; Jeffrey Miller, Executive Vice President and Chief Financial Officer; and select members of the senior management team. A pre-recorded question and answer session will follow formal remarks by management. Questions for consideration should be submitted via e-mail to investors@donegalgroup.com by 5:00 pm ET on Thursday, February 13, 2025.
About Donegal Group Inc.
Donegal Group Inc. is an insurance holding company whose insurance subsidiaries and affiliates offer property and casualty lines of insurance in 21 Mid-Atlantic, Midwestern, Southern and Southwestern states. Donegal Mutual Insurance Company and its insurance subsidiaries conduct business together with the insurance subsidiaries of Donegal Group Inc. as the Donegal Insurance Group. The Donegal Insurance Group has an A.M. Best rating of A (Excellent).
The Class A common stock and Class B common stock of Donegal Group Inc. trade on the NASDAQ Global Select Market under the symbols DGICA and DGICB, respectively. The Company is focused on several primary strategies, including achieving sustained excellent financial performance, strategically modernizing its operations and processes to transform its business, capitalizing on opportunities to grow profitably and providing superior experiences to its agents, customers and employees.
Investor Relations Contact
Karin Daly Vice President, The Equity Group Inc. Phone: (212) 836-9623 E-mail: kdaly@equityny.com
Source: United States Senator for Illinois Tammy Duckworth
January 31, 2025
[WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL)—a member of the U.S. Senate Committee on Commerce, Science and Transportation (CST)—helped reintroduce bipartisan legislation alongside U.S. Senator Deb Fischer (R-NE) aimed at addressing freight fraud. The Household Goods Shipping Consumer Protection Act would help provide the Federal Motor Carrier Safety Administration (FMCSA) with the tools needed to protect consumers from fraud by scammers in the interstate transportation of household goods.
“Bad actors are constantly developing new ways to defraud hardworking Americans, so it’s critical we keep our legislation up to speed so we can protect our constituents from the latest scamming techniques,” said Senator Duckworth. “Moving is stressful enough without worrying about whether your movers are actually scammers trying to steal your money and belongings. I’m proud to help introduce this bipartisan legislation alongside Senator Fischer to help ensure FMCSA has the tools it needs to shield American consumers from these thieves.”
“We cannot allow bad actors in the shipping and moving industry to violate consumer trust and harm our nation’s supply chain,” said Senator Fischer. “Our bipartisan, bicameral legislation will give the Federal Motor Carrier Safety Administration the tools they need to hold these thieves accountable. I look forward to working with my colleagues in both the House and the Senate to get our bill signed into law.”
Freight fraud, particularly in the household goods sector, is a growing problem that continues to undermine the integrity of the shipping and logistics industry. The bipartisan Household Goods Shipping Consumer Protection Act seeks to help address the issue of household goods fraud by empowering FMCSA with the tools it needs to combat fraudulent actors in the shipping industry. Duckworth is an advocate for stronger consumer protections—in 2023, she and several Senate colleagues called on the Consumer Financial Protection Bureau (CFPB) to improve their oversight over financial firms offering “buy now, pay later” products to ensure they comply with consumer protection laws.
Euronext upgraded from ‘BBB+, Positive Outlook‘ to ‘A-, Stable Outlook‘ by S&P
Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 3 February 2025 – Euronext, the leading pan-European market infrastructure, today announces the decision of S&P to upgrade Euronext from ‘BBB+, Positive Outlook’ to ‘A-, Stable Outlook’.
S&P’s decision reflects the completion of the integration of the Borsa Italiana Group, the successful expansion of Euronext Clearing and the continued deleveraging thanks to the Group’s strong cash flow generation.
Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said: “We are pleased today to see Euronext’s rating upgraded by S&P to A-. This upgrade is a strong recognition of the success of the transformation journey we engaged in since the closing of the acquisition of the Borsa Italiana Group. We have pursued our deleveraging path, from 3.2x net debt to EBITDA at the closing of the transaction, to 1.5x at the end of Q3 2024. In the meantime, we continued to return capital to our shareholders, including through our ongoing €300 million share repurchase programme, which was launched in November 2024. Euronext is today stronger than ever, with a diversified business profile. Combined with our recognised solid financial position and cash generation, we are in the ideal position to achieve our ambitious targets set out in our new strategic plan ‘Innovate for Growth 2027’.” Download S&P report
France, Corporate Flavio Bornancin-Tomasella +33 1 70 48 24 45
Ireland Andrea Monzani +39 02 72 42 62 13
Italy Ester Russom +39 02 72 42 67 56
The Netherlands Marianne Aalders +31 20 721 41 33
Norway Cathrine Lorvik Segerlund +47 41 69 59 10
Portugal Sandra Machado +351 91 777 68 97
Corporate Services Coralie Patri +33 7 88 34 27 44
About Euronext
Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway, and Portugal.
As of December 2024, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal host over 1,800 listed issuers with around €6 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.
This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.
The Euronext Group processes your personal data in order to provide you with information about Euronext (the “Purpose”). With regard to the processing of this personal data, Euronext will comply with its obligations under Regulation (EU) 2016/679 of the European Parliament and Council of 27 April 2016 (General Data Protection Regulation, “GDPR”), and any applicable national laws, rules and regulations implementing the GDPR, as provided in its privacy statement available at: www.euronext.com/privacy-policy. In accordance with the applicable legislation you have rights with regard to the processing of your personal data: for more information on your rights, please refer to: www.euronext.com/data_subjects_rights_request_information. To make a request regarding the processing of your data or to unsubscribe from this press release service, please use our data subject request form at connect2.euronext.com/form/data-subjects-rights-request or email our Data Protection Officer at dpo@euronext.com.
2024 financial statements: significant reduction in net loss
Evry, 03 February 2025 – 5:45pm: Global Bioenergies’ Board of Directors today approved the 2024 annual financial statements, which have been audited by the Statutory Auditor and show a significantly reduced loss of €-5.9M.
Samuel Dubruque, Chief Financial Officer of Global Bioenergies, comments: “In two years, we have managed to halve our net loss (€-12.0M in 2022, €-8.7M in 2023 and €-5.9M in 2024). The Company has reorganized itself to match its new partnership development model, which enables us to reduce expenses by optimizing allocated resources. We anticipate that 2025 will result in a further reduced net loss.
We are also holding discussions with our banking partners to negotiate the payment schedule of our debts, aiming at postponing any repayments beyond 2025, which would extend our financial visibility with our current cash position until September 2025. If we were unable to reach an agreement with our banking partners in the coming months, new financing would be required to meet our debt repayments”.
Marc Delcourt, co-founder and CEO of Global Bioenergies, adds: “Our new technical approach, which will combine our technology with the one of a major international industrialist, will enable us to drastically reduce the CAPEX1and OPEX2of isobutene production and its conversion into SAF. We can now set our sights very high in this field: to take over from HEFA, the only commercially exploited technology to date, but which will soon plateau because it relies on limited resources (used cooking oil and tallow oil). We are more convinced than ever of the need to provide decarbonizing solutions in a world that sometimes seems resigned to global warming and its many consequences”.
Group Profit & Loss Account
€ thousands
from 01/01/24 to 30/12/2024 12 months
from 01/01/23 to 31/12/2023 12 months
from 01/01/22 to 31/12/2022 12 months
Operating income
4,692
8,910
1,715
Operating expenses
-11,436
-18,621
-14,907
Operating profit (loss)
-6,744
-9,711
-13,192
EBITDA
-4,428
-6,878
-11,383
Financial profit
59
107
-95
Non-recurring items
-428
-239
-147
Income tax (CIR)
-1,251
-1,187
-1,447
Net income (loss)
-5,861
-8,656
-11,986
Details of operating income
Details of operating income (€ thousands)
2024
2023
2022
Sales
361
3,249
698
Operating subsidies
4,188
2,698
895
Change in inventories
-312
1,530
-118
Other
455
1,432
240
TOTAL
4,692
8,910
1,715
Operating income consists mainly of operating subsidies recognized under the Isoprod and Prénidem projects from ADEME.
Details of operating expenses
Details of operating expenses (€ thousands)
2024
2023
2022
Staff
4,174
4,553
4,287
Laboratory
390
346
343
Industrialization/Commercialization
1,506
8,778
6,713
Rentals and maintenance
1,060
1,034
850
Intellectual property
320
390
323
Amortization
2,386
1,590
703
Other
1,600
1,931
1,688
TOTAL
11,436
18,621
14,907
Operating expenses have decreased mainly on industrialization and production items, as the work carried out during the first half of the year on the demo plant at Pomacle Bazancourt was brought to completion. No such expenditure was necessary in the second half of the year.
Group Balance Sheet
Assets(€ thousands)
31/12/24
31/12/23
31/12/22
Liabilities(€ thousands)
31/12/24
31/12/23
31/12/22
Intangible assets
69
327
539
Capital
908
906
749
Tangible assets
486
2,471
3,612
Share premium
–
10,538
16,029
Assets under construction
–
77
401
Balance carried forward
-918
-2,769
-2,708
Financial assets
349
341
1,546
Profit (loss)
-5,861
-8,656
-11,986
Equipment subsidies
129
2,758
463
NON-CURRENT ASSETS
904
3,217
6,097
EQUITY
-5,742
2,778
2,547
Inventories
402
219
2,592
PROVISIONS
198
53
110
Receivables
3,144
2,247
3,647
Conditional advances and loans
13,088
12,451
11,486
Cash
4,692
11,673
8,768
Trade payables
1,475
2,411
5,580
Marketable securities
171
171
173
Tax and social security liabilities
625
559
502
Prepaid expenses
338
378
300
Other debts and deferred income
7
3
1,352
CURRENT ASSETS
8,746
15,038
15,480
PAYABLES and DEFERRED INCOME
15,195
15,423
18,921
TOTAL ASSETS
9,651
18,254
21,577
TOTAL LIABILITIES
9,651
18,254
21,577
The Group’s balance sheet shows a gross cash position of €4.7M at 31 December 2024. The Company is currently holding discussions with its banking partners to negotiate the payment schedule of debts. Excluding bank repayments, monthly cash consumption is around €0.6M.
2024 highlights and recent events
2024 was marked by the efforts made and then the decision to stop the search for financing the project to build a 2,500-ton plant dedicated to cosmetics, in a general context that was highly unfavorable to financing first industrial projects. The Company then decided to redirect its efforts in SAF by forging partnerships with major manufacturers to strengthen the competitiveness of its process by 2030. In the meantime, the Company is maintaining its ambitions in the cosmetics sector, which serves as a steppingstone for the SAF market (same molecules, same process).
As a reminder, the Company’s process is one of only a dozen solutions to be ASTM certified. The Company has developed a process for producing SAF from plant-based resources, and has also demonstrated through a proof-of-concept that its process could be used to produce e-SAF, i.e. from a resource derived from the combination of CO2 and hydrogen produced from renewable electricity, in this case e-acetic acid, which could be produced by industrial players in the future. Europe favors the use of e-SAFs going forward, as they have the advantage over bio-SAFs of not requiring plant products or agricultural or forestry land.
As part of its strategic repositioning, the Company announced today3 that it has signed a Term Sheet with a major international industrialist to co-develop a SAF production process combining its technology with the partner’s proprietary technology. This combination will significantly reduce capital expenditure and production costs, making it the most promising technology to take over after the HEFA4 process.
About GLOBAL BIOENERGIES
As a committed player in the fight against global warming, Global Bioenergies has developed a unique process to produce SAF and e-SAF from renewable resources, thereby meeting the challenges of decarbonising air transport. Its technology is one of the very few solutions already certified by ASTM. Its products also meet the high standards of the cosmetics industry, and L’Oréal is its largest shareholder with a 13.5% stake. Global Bioenergies is listed on Euronext Growth in Paris (FR0011052257 – ALGBE).
Contacts
1 CAPEX: Capital Expenditures 2 OPEX: Operational Expenses 3 Press Release: Signature of a term sheet to combine two technologies and bring SAF production to the next level, 03 February 2025 4 HEFA: Hydroprocessed Esters and Fatty Acids
LONDON, Feb. 03, 2025 (GLOBE NEWSWIRE) — ‘GameFi’ the gaming with finance sectors have been changing gears and are constantly approaching a new milestone, and the launch of some known projects such as Monsta Mash and a few others have changed the old school mentality of one seeking opportunity to earn with playing.
The data available shows that the GameFi market is expected to reach $126 billion in the near future, and to this massive figure $MASH the utility token of the Monsta Mash ecosystem has majorly contributed and continues to contribute by luring hundreds of new investors and traditional gamers.
The opportunity to become a millionaire is ending soon!
$MASH token has gathered huge attention in its ongoing phase 3 of pre-sale, till press time the total raised amount by the token was $ 1,030,985 and in the ongoing phase it is priced at $0.00365 and in the next pre-sale which is phase 4 the token will be priced at $0.00671.
The total raised amount in the ongoing sale signifies the hidden potential that an investor should explore and grab to become a millionaire in 2025.
Thousands of whales have reportedly invested in $MASH, and worth noting that thanks to the ones who adopted the Mash token to explore the new potential the Mash ecosystem has offered a bonus code ‘MONSTA50’ for the ones who left the chance to invest in the hero of the GameFi.
The growth between the current pre-sale and the fourth pre-sale is approximately 84%. Don’t miss the opportunity to invest in the “Bitcoin” of the current GameFi market – act now before it’s too late to capitalize on this potential millionaire-making opportunity in 2025.
Monsta stands top of all GameFi
The growing popularity of GameFi over traditional gaming has opened new doors for firms and institutions to help transform the pre-existing gaming industry with the usage of blockchain technology.
The GameFi project Monsta Mash is gaining attention for its unique mechanism, it is built on the Solana blockchain, known for its speed and scalability. The number of GameFi projects on Solana has grown in recent quarters as it achieves new milestones with advanced technology and an experienced team.
The presale accelerated the last week of December 2024 due to the Tap-to-Earn game launched on Christmas the gaming spree and a growing community have increased Monsta Mash’s popularity, attracting more investor gamers.
Disclaimer: This content is provided by Cryptids Game. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
Have you ever bought a souvenir from a local market on holiday? Or tried to travel overseas with a guitar? If so, you may have been stopped at the airport if your item contains animal or plant parts. This is because most countries, and also the EU, implement Cites, the Convention on International Trade in Endangered Species of Wild Fauna and Flora.
Cites is the main global agreement regulating international wildlife trade to ensure the protection of the 41,000 species covered by the convention. Under Cites, trade measures are established for species to ensure that international trade is legal and ecologically sustainable. For most species (96%), this comprises close regulation of trade. For more threatened species (3%), commercial international trade in wild animals and plants is banned (the remaining 1% refers to a third category of species protected in at least one country).
Under Cites, countries must prohibit international trade in violation of the convention. They are also encouraged to restrict or prohibit the collection of – and domestic trade in – Indigenous species included under Cites. Crucially, countries must enact laws to implement the convention. By design, Cites relies mainly on state-led law-enforcement to achieve its goals.
This year, as Cites marks its 50th anniversary, our new study evaluates the convention’s effectiveness. It asks whether it solves the problem for which it was designed, as well as outlining how it could be more effective.
Taking stock
Cites has had several successes. It can boast an effective system of international cooperation among 184 countries and the EU. Much international trade in Cites-listed species is legally permitted and has been determined to be sustainable. The convention has helped raise the profile of, and catalysed conservation action for, species threatened by international trade, such as pangolins and seahorses.
The convention has also supported the recovery of species, such as crocodiles and vicuña, a member of the camel family that lives in South America. Since 2010, Cites has generated awareness of, and coordinated action to address, illegal wildlife trade, most notably through the establishment of the International Consortium on Combating Wildlife Crime.
However, there are some major problems with the Cites approach. Illegal or unsustainable wildlife trade involving thousands of Cites-listed species occurred in at least 162 signatory countries from 2015 to 2021. This includes countries such as the US that are well resourced to deter it. A predominant focus on state-led law enforcement is therefore proving ineffective in many instances.
We find that many law enforcement agencies are not well enough resourced to deter illegal collection and trade of species. Simply creating laws does not necessarily mean that people or businesses will comply with them.
Also, regulating or prohibiting international wildlife trade does not necessarily reduce the threat to the species concerned. These measures may signal scarcity and lead to price increases, which could accelerate over-exploitation by incentivising speculative collection and stockpiling. In this context, there is much room for improvement.
What needs to change
Deciding on appropriate Cites trade measures for species relies primarily on biological criteria, such as population size. Typically, that process does not involve consultation with the people extracting or trading wildlife. Nor does it really consider insights from the social sciences, including economics, on the likely impact of trade measures on wildlife and people. Decisions by the world’s governments to establish these measures are therefore highly uncertain.
To better prevent species from being overexploited for international trade through Cites, countries need to have a greater understanding of how different species are traded. This would enable them to identify the most appropriate combination of rights, rules and decision-making procedures along supply chains, and then pre-test and implement interventions specific to these systems.
Countries therefore need to analyse how species are traded. This would include looking at the relevant property rights and other laws that affect people involved in the trade, as well as understanding factors such as incentives for people to harvest species, the extent to which trade contributes to peoples’ income, and market size for traded species and products.
Countries could then reconfigure rights and rules so that they are aligned along supply chains. This is needed to avoid creating loopholes and facilitating illegal trade. Where trade (both within countries and between countries) is taking place, these arrangements should support it to be legal and sustainable. That’s the ultimate aim of Cites. The relevant actors, including collectors and traders should also be consulted – or better yet involved in co-designing regulations – so that the rules are legitimate to them.
The most appropriate interventions will depend on each country’s analysis of its own trading situation and their role in the trade of given species. They may include devolving land or use rights to Indigenous peoples so that they manage and can benefit from the species. Or interventions may be programmes to reduce consumer demand or develop responsible markets for wildlife products as appropriate.
The approach we propose in our study has the potential to reduce reliance on state-led law enforcement along international supply chains. Pluralist regulatory approaches, including self-regulation, community monitoring or the engagement of appropriate third parties, could be used to support compliance with new rules at each stage of supply chains. Where property rights are appropriately assigned, clear and enforceable, this could mean less reliance on state law-enforcement. This is because local people with a sense of ownership of wildlife are more likely to help protect it rather than overexploit it.
How could Cites be more effective? By understanding the dynamic trade systems for species in greater detail. Then, identifying the most appropriate combination of rights, rules and decision-making procedures to achieve sustainability throughout supply chains. And, finally, integrating Cites trade measures within these broader systems.
Don’t have time to read about climate change as much as you’d like?
Dan Challender receives funding from the Global Challenges Research Fund through the Trade, Development, and the Environment Hub, the A. G. Leventis Foundation, and the Paul G. Allen Family Foundation. He serves as CITES Focal Point for the IUCN Species Survival Commission (SSC) Pangolin Specialist Group, and is a member of the IUCN Commission on Environmental, Economic, and Social Policy (CEESP)/SSC Sustainable Use and Livelihoods Specialist Group.
Michael ‘t Sas-Rolfes has consulted as a technical advisor to Rhinomics, an initiative working to develop an ethical and sustainable trading model for the benefit of rhino conservation. He serves on the IUCN Species Survival Commission (SSC) African Rhino Specialist Group, and is a member of the IUCN Commission on Environmental, Economic, and Social Policy (CEESP)/SSC Sustainable Use and Livelihoods Specialist Group.
It has taken decades for some to accept the devastating effects of climate change on our planet. Despite scientific evidence that was available years ago, many people were reluctant to make the connection between increasing use of fossil fuels, rising global temperatures and devastating weather events.
A key reason for this reluctance is the dislocation of cause and effect, both in time and geography. And here there are clear parallels with another deadly human activity that is causing increasing levels of suffering across the planet: the production, trafficking and consumption of illicit drugs. Here are some troubling “highlights” from the UN’s latest World Drugs Report:
Cocaine production is reaching record highs, with production climbing in Latin America coupled with drug use and markets expanding in Europe, Africa and Asia.
Synthetic drugs are also inflicting great harm on people and communities, caused by an increase in methamphetamine trafficking in south-west Asia, the near and Middle East and south-eastern Europe, and fentanyl overdoses in North America.
Meanwhile, the opium ban imposed by the de facto authorities in Afghanistan is having a significant impact on farmers’ livelihoods and incomes, necessitating a sustainable humanitarian response.
The report notes how organised criminal groups are “exploiting instability and gaps in the rule of law” to expand their trafficking operations, “while damaging fragile ecosystems and perpetuating other forms of organised crime such as human trafficking”.
Illicit drug use is damaging large parts of the world socially, politically and environmentally. Patterns of supply and demand are changing rapidly. In our new longform series Addicted, leading drug experts bring you the latest insights on drug use and production as we ask: is it time to declare a planetary emergency?
At every stage of the process of producing drugs such as cocaine, there are not only societal impacts but environmental ones too. An example of the interconnected relationship between climate change and drugs is demonstrated in the use of land.
Demand for cocaine has grown rapidly across many western countries, and meeting this can only be met by changing how land is used. Forests are cleared in South America to make way for growing coca plants. The refinement of coca into cocaine involves toxic chemicals that pollute the soil and nearby watercourses. This in turn compromises those living in these areas as access to clean water and fertile land is reduced.
Until this is reversed, these local communities will not be able to cultivate the land to earn an income or rely on water sources to live. And each year, some of their number will add to the hundreds of thousands of people around the world who die, directly or indirectly, as a result of illicit drug use.
People in the world with drug use disorders (1990-2021)
Having spent most of my career researching the human toll of drug use at almost every stage of the supply and consumption chain, I believe a complete shift in the way we think about the world’s drug problem is required.
We already have many years of evidence of the ways that drugs – both natural and (increasingly) synthetic – are destabilising countries’ legal and political institutions, devastating entire communities, and destroying millions of lives. My question is, as with climate change, why are we so slow to recognise the existential threat that drug use poses to humanity?
The disconnect between users and producers
For decades, problems with drugs have been viewed as a mainly western issue, affecting Europe, North America and Australasia in terms of drug taking. This perception was fostered in part by US president Richard Nixon’s “war on drugs” announcement in June 1971, when he declared drug abuse to be “public enemy number one”.
This western-centric focus has come at a cost – we still have little data and information about drug use and problems in Africa, for example. But we are beginning to see how far drugs and their associated devastation has reached beyond traditional western borders.
Illicit drug use has increased by 20% over the past decade, only partly due to population growth. Almost 300 million people are estimated to consume illicit drugs regularly, with the three most popular being cannabis (228 million users), opioids (60 million) and cocaine (23 million). According to the UN report:
The range of drugs available to consumers has expanded, making patterns of use increasingly complex and polydrug use a common feature in most drug markets. One in 81 people (64 million) worldwide were suffering from a drug use disorder in 2022, an increase of 3% compared with 2018.
There are multiple harmful consequences of drug use. The largest global burden of disease continues to be attributed to opioids, use of which appears to have remained stable at the global level since 2019, in contrast to other drugs.
In the same way that climate change has threatened whole populations, so too have drugs. Yet many of us remain disconnected from how they are produced and distributed – and the misery they cause throughout the supply chain, all over the world.
The production of cocaine, for example, is associated with violence and exploitation at every stage of the manufacturing process. Death threats to farmers and unwilling traffickers have all increased in parallel with the growing demand for cocaine in the US and Europe.
Global drug use disorder deaths by substance (2000-21):
Organised crime groups not only supply and distribute drugs but also trade in people, whether for the commercial sex trade or other forms of modern slavery. This makes sense as the infrastructure and contacts to move drugs are similar to those used to move humans across borders and even continents. Yet many cocaine users are oblivious – wilfully or otherwise – of the violence associated with how this drug is supplied to them. As the UK National Crime Agency points out:
Reducing demand is another critical factor in reducing the supply of illegal drugs. Many people see recreational drug use as a victimless crime. The reality is that the production of illegal drugs for western markets has a devastating impact in source countries in terms of violence, exploitation of vulnerable and indigenous people and environmental destruction.
While some of the suffering associated with the production of drugs like cocaine makes the headlines, it’s often overshadowed by the glamorisation of criminal drug gangs in films and on TV. To the extent that people worry about the impact of drugs, it’s usually focused on those in our immediate communities, such as people dependent on heroin who are sleeping rough and vulnerable to exploitation. But there have already been other victims before the drug reaches our streets.
Shifts in the global supply chain
Tracking heroin routes demonstrates the way that drug supply is an international effort which affects every community on its journey, from the Afghan farmer to officials who are bribed so the drug can cross borders or be let through ports without being seized, to the person injecting or smoking the finished product.
Much of Europe’s heroin is produced in Afghanistan by small farming operations growing opium, which is then transformed into the drug. Most Afghan farmers are simply surviving growing the crop, and don’t reap significant wealth from their harvest. It is those supplying and distributing the opium as heroin who can make serious money from it.
Meanwhile, following the return of the Taliban to power in Afghanistan in August 2021, those farmers’ livelihoods have faced a new threat.
The Taliban is ideologically opposed to the production of opium. Soon after assuming control, its leaders issued a decree banning farmers from growing opium. They have enforced this by destroying crops when farmers have ignored the ban – although there is still believed to be a significant stockpile of heroin in the country, meaning that as yet, there has not been a big impact on supply to Europe and the UK. But this could change amid the emergence of more deadly synthetic alternatives, including nitazenes and other new synthetic opioids.
Heroin trafficking flows based on reported seizures (2019-22):
Either way, the drug gangs who traffic heroin won’t worry about the opium farmers’ wellbeing. As so often happens with changes in the availability of illicit drugs, when there is a shortage, these groups prove adaptable and nimble at providing alternatives quickly.
While gathering intelligence about organised crime gangs is difficult and potentially dangerous, the European Union Drugs Agency (EUDA) has provided some insights about who these groups are and how they operate. The Netherlands remains an important hub for the distribution of heroin, with several Dutch criminal groups involved in importing and distributing heroin from Afghanistan.
But others are involved too: the EUDA’s intelligence shows that criminal networks with members from Kurdish background are central to the wholesale supply and have control over many parts of the supply chain. These professional, well-organised groups have established legal businesses throughout the route of supply that facilitate their illicit activities – largely along the Balkan route with hubs in Europe.
Intermediate & final recipients of heroin shipments (2019-22):
Unlike these organised crime gangs, governments and law enforcement appear to respond to emerging threats slowly and lack the flexibility and ingenuity that the gangs repeatedly demonstrate.
As drug detection techniques have improved, organised crime has shown how inventive it can be. Taking advantage of the COVID-19 pandemic, dealers used consignments of surgical masks to conceal large quantities of cocaine being trafficked to China and Hong Kong from South America.
And as western markets for cocaine become saturated, organised crime gangs have exploited new markets in Asia, where cocaine seizures, a proxy for use of cocaine, have increased. But the shifting landscape is also reflected in changes in consumption, with use of the synthetic stimulant methamphetamine growing rapidly in Asia – reflected in record levels of seizures in the region in 2023.
For the organised crime gangs, production and supply of synthetic drugs is in many ways easier, as it is not reliant on an agricultural crop in the way that heroin and cocaine are and can be manufactured locally. This reduces the distribution logistics and distance needed for an effective supply chain. According to the UN Office on Drugs and Crime, organised crime gangs are exploiting gaps in law enforcement and state governance to both traffic large volumes of drugs and expand their production in the region.
Where there is destabilisation, there is opportunity for those who seek to profit from drug addiction. In Syria, Russia and Ukraine, war has made some people very rich.
Syria and Russia: the new drug hotspots
The wars in Syria and Ukraine bear testament to the way drugs provide solutions to people who are experiencing the worst of times – and to governments that are ready to exploit evolving situations.
As the war in Syria progressed, the Bashar Al-Assad regime actively developed a strategy to dominate the captagon market in the Middle East and North Africa. First produced in the 1960s in Germany to treat conditions such as attention deficit disorders and narcolepsy and other conditions, captagon is a stimulant that staves off hunger and sleep, making it ideal for military use – particularly in countries where food supplies are inconsistent. It has been referred to as the “drug of jihad” used by Islamic fighters in the region.
As the war progressed in Syria, the country and its leader became increasingly isolated, its economy crashed creating the perfect conditions to develop the trade in captagon. Rather than drug production leading to the collapse of law and order, it was the other way round.
Isolated by the west and with a historically strained relationship with its neighbours including Saudi Arabia, the Assad regime – under the guidance, reportedly, of Assad’s brother Maher al-Assad– ruthlessly positioned itself as the world’s main producer and distributor of this drug, then used this position to leverage its influence and try to reintegrate into the Arab world.
Video by TRT World.
Captagon also provided much-needed revenue for the Assad regime. The drug was estimated to be worth US$5.7 billion annually to the Syrian economy – at a time when western governments have placed severe sanctions on the country, restricting its ability to raise revenue. Saudi Arabia was one of the main countries being supplied captagon by Syria. Until the fall of Assad, it was the senior leadership in Syria that controlled the supply and distribution of the drug – giving rise to the label “the world’s largest narco state”.
The Assad government achieved this position by making captagon good value – a viable alternative to alcohol in terms of price and for those who don’t drink. Exploiting many of its own citizens, the regime encouraged individuals and businesses to participate in manufacturing and distributing the drug.
The fall of Assad and his hurried escape to Russia left the rebel fighters to pick up vast hauls of captagon and other drug ingredients. “We found a large number of devices that were stuffed with packages of captagon pills meant to be smuggled out of the country. It’s a huge quantity,” one fighter belonging to the Hayat Tahrir al-Sham (HTS) group told the Guardian. What this will do to drug production and supply in the region is unclear.
While the latest UN World Drug Report highlights “a rapid increase in both the scale and sophistication of drug trafficking operations in the region over the past decade”, it goes on to highlight that “one of the most striking changes worldwide in drug trafficking and drug use over the past decade has taken place in Central Asia, Transcaucasia [Armenia, Azerbaijan and Georgia] and eastern Europe”, where there has been a shift “away from opiates, mostly originating in Afghanistan – towards the use of synthetic stimulants, notably cathinones … There is hardly any other region where cathinones play such a significant role.”
This is part of “a groundbreaking shift in the global drug trade, pioneered in Russia and now spreading globally,” according to the Global Initiative Against Transnational Organized Crime. This shift is changing the nature of drug sales, using “darknet markets and cryptocurrency for anonymous transactions, allowing buyers to retrieve drugs from hidden physical locations or ‘dead drops’, rather than direct exchanges.”
The rise of Russia’s dead drop drug trade stems from several unique national factors: restrictive anti-drug policies, strained western trade relations, and a strong technological foundation. Enabled by these conditions, the dead drop model has reshaped how drugs are distributed in Russia.
Drug transactions now involve no face-to-face interactions; instead, orders are placed online, paid for with cryptocurrency, and retrieved from secret locations across cities within hours. This system, offering convenience and anonymity, has seen synthetic drugs – especially synthetic cathinones like mephedrone – overtake traditional imported substances like cocaine and heroin in Russia … These potent synthetic drugs are cheap, easy to manufacture, and readily distributed through Russia’s vast delivery networks.
The report notes that this shift in drug distribution has been accompanied by rising levels of violence including punishment beatings, and a public health crisis.
Podcast by the Global Initiative Against Transnational Organized Crime.
Yet officially, there is very little reliable data about drug use in Russia. Under the premiership of Vladimir Putin, Russia has no sympathy with those who are dependent, viewing them as weak and without value. And its invasion of Ukraine three years ago has had ramifications for Ukraine’s users too.
Prior to the war, Ukraine had demonstrated an increasingly progressive policy towards those who had problems with drugs, establishing treatment centers and encouraging access to treatment. Since Russia invaded Ukraine in February 2022, this strategy has been severely set back, with many people who need access to substitute treatments such as methadone unable to secure consistent supply of these drugs.
Another global blind spot is China, where, like Russia, little is known about the extent or type of problems that drugs are causing. Both regimes are ideologically opposed to recreational or problem drug use and, as far as we know, there is no state-funded rehabilitation provided in either country; the approach is to criminalise people rather than offer health-based interventions.
We shouldn’t be too critical as many western countries, including the UK, also need to pivot from a criminal approach to drug problems towards a health-focused one. Portugal made such a policy change several years ago, recognising that people who develop problems with drugs such as dependency need help rather than punishment.
This radical shift in thinking has made a significant change to the way those using drugs are treated, in the main offered help and specialist support rather than being arrested and sent to jail, only to be released and then repeat the same cycle of drug use, arrest and prison.
The evidence of this policy change is impressive: not only have drug-related deaths fallen, but population-level drug use is among the lowest in Europe. Nowhere is this policy shift more urgent than the US.
North America: epicentre of the opioid crisis
In the US, the synthetic opioids fentanyl and oxycodone have contributed to more than 100,000 fatal overdoses each year since 2021. While there are signs this deaths toll is at last beginning to fall, the harm and pain of addiction and overdose affects every strata of American society – as shown in moving portrayals of America’s opioid crisis such as Painkiller and Dopesick. Most fatalities are caused by respiratory depression where breathing is significantly slowed or stops altogether.
Official trailer for Painkiller (Netflix)
Fentanyl is an analgesic drug that is 50-100 times more potent than heroin or morphine. Where China used to be the principal manufacturer and supplier of fentanyl to the US, Mexico is now the primary source. In December 2024, Mexican authorities announced “the largest mass seizure of fentanyl pills ever made” – amounting to more than 20 million doses of fentanyl pills worth nearly US$400 million. The pills were found in Mexico’s Sinaloa state, home of the Sinaloa drug cartel and a hub of fentanyl production,
“This is what makes us rich,” one fentanyl cook recently told the New York Times. He was scathing about the idea that Donald Trump would be able to stamp out the supply of fentanyl from Mexico to the US by threatening Mexico’s government with tariffs. “Drug trafficking is the main economy here.”
However, the introduction of synthetic opioids to the US came not via organised crime but through a deliberate strategy of the pharmaceutical industry. Upon launching its prescription opioid painkiller OxyContin (a brand name for oxycodone) in 1996, Perdue Pharma, owned by the Sackler family, devised a plan to increase prescriptions of the drug by incentivizing and rewarding doctors to give these drugs to their patients. On a business level, this was a success; on a human level, it has been a disaster.
As patients quickly developed tolerance to drugs such as OxyContin, they had to take higher doses to avoid withdrawal symptoms or the positive feelings it gave them. Taking more of these opiates increases the risk of accidental overdose, many of which proved to be fatal. It has also driven those dependent on drugs to the black market, and into the hands of organised drug gangs, as they seek the drugs in greater quantities.
Dependency on fentanyl and other opioids is all-consuming. When not using these drugs, people are entirely focused on ensuring sufficient supply of the next dose. This includes funding supply which can take people to places they thought they would never be, for example breaking the law, shoplifting or getting involved in commercial sex to make enough money to buy drugs.
Synthetic opiates like OxyContin and fentanyl have proved to be classless, ageless and sex blind. The first-hand experience of addiction and fatalities have radically altered the way many Americans think about drugs and the problems they cause. Canada, too, is suffering a major crisis.
Compounding this tragedy is the failure of the state to provide interventions and treatment that could have reduced fatal and non-fatal overdoses. It is only now that evidence-based interventions are beginning to be made widely available, such as access to Naloxone – a drug that can reverse the effects of opiates and potentially save a life.
Of course, it isn’t just hospitals and health professionals that are challenged by the results of widespread use of opioids, but public services like the police and fire service. In some areas of the US, there have been so many daily overdoses that every service was called on to try and deal with it. Local mayors have made it a priority to train police and fire personnel to be trained as first responders, such is the scale of the problem.
But it is not just in North America that we see the failure of politicians and the state to act when faced with growing problems with drugs. In the UK, where record numbers are dying because of using drugs such as heroin, the government has not invested in overdose prevention strategies. At a time when fatal overdoses increase year on year, budgets for specialist treatment have been reduced. It remains to be seen what the recently elected Labour government will do, if anything, to tackle the tragic rise in drug related fatalities.
What connects both examples from the US and UK is the attitude and perception of drug use many of us have. Drug use and the heavy use of prescription painkillers is still heavily stigmatised. Many of us still view this as something individuals bring on themselves or have a choice about.
So, if we don’t care about what happens to people who develop problems with drugs, why should our elected representatives? In part, it is our bigotry that is enabling the lack of timely intervention, despite us possessing the knowledge and evidence of how drug harms can be minimised.
Latin America: breakdown of the rule of law
Under the last Conservative government, the UK Home Office asserted that people who used cocaine recreationally are supporting violence not only in the UK but in the countries that produce its raw ingredients. It’s not clear if this has made any difference to those using cocaine in the UK – personally, I doubt many people consider or are aware of how cocaine is produced or its provenance.
Perhaps if those using cocaine, mainly in western countries, realised the extent of violence and suffering that cocaine manufacture causes they might think again. Latin America has suffered enormously, with few countries there not touched in some way by the violence and breakdown of law associated with drug production and supply. According to the latest UN World Drugs Report:
Global cocaine supply reached a record high in 2022, with more than 2,700 tons of cocaine produced that year, 20% more than in the previous year … The impact of increased cocaine trafficking has been felt in Ecuador in particular, which has seen a wave of lethal violence in recent years linked to both local and transnational crime groups, most notably from Mexico and the Balkan countries.
Cocaine seizures and homicide rates increased five-fold between 2019 and 2022 in Ecuador, with the highest such rates reported in the coastal areas used for trafficking the drug to major destination markets in North America and Europe.
Cocaine trafficking flows based on reported seizures (2019-22):
As with opium production in Afghanistan, it is small-scale farmers in Colombia, Peru and Bolivia that grow the coca plant that will be turned into cocaine. Like their Afghan counterparts, they grow coca as it is more profitable than alternatives such as coffee. While it may be profitable in the short term, there are greater costs to them and their society.
Cocaine production brings with it violence as those further up the drug production chain try to control its trade. Few parts of these societies are unscathed, from bribing local politicians through to whole regions that are controlled by organised crime. Keeping control means that the use of firearms and violence increases. Against this backdrop, it is unsurprising that basic health and social services suffer.
So, while a coca grower may have more money, every other aspect of their life is negatively impacted. Whether it is regional or state institutions, both are compromised by the drug trade and those that control it. While this may not lead to the total collapse of law and order, it does create injustice and distorts the rule of law in many areas of Latin America and the Caribbean, where competition between gangs has also resulted in an increase in homicides.
The impact is on all sectors of society, now and into the future. For example, while historically the role of women has been largely underrepresented in research and drug policy, the UN report recognises that this is changing:
As women increasingly participate in economic activities, the role that women play in the drug phenomenon may become increasingly important. For example, a shift away from plant-based drug production may affect many women in rural households involved in opium poppy and coca bush cultivation.
The UN also identifies the specific risk to young people and the drugs trade, highlighting:
Long-term efforts to dismantle drug economies must provide socioeconomic opportunities and alternatives, which go beyond merely replacing illicit crops or incomes and instead address the root structural causes behind illicit crop cultivation, such as poverty, underdevelopment, and insecurity. They must also target the factors driving the recruitment of young people into the drug trade, who are at particular risk of synthetic drug use.
Meanwhile, demand for treatment in Europe due to problems with cocaine has risen significantly in recent years, since 2011 there has been an 80% increase in treatment presentations. This reflects the growing number of people using cocaine and the rise in purity of the drug.
Amid what may seem to be a story of unrelenting despair and hopelessness, there are local initiatives and even a few state-wide policies that provide optimism that change is possible.
In my roles both as clinician and scientist, I’ve often been amazed by how ingenious people can be when faced with the apparently impossible. For example, the way some people use heroin to dampen their psychotic symptoms, such as auditory and visual hallucinations – or the development of Naloxone, a drug that can temporarily reverse the effects of opioids, providing a short window for emergency services to treat people who have overdosed.
Early in my career, I witnessed the emergence of HIV in the UK in the 1980s. The speed at which this disease spread was not matched by our ability to treat it. Our response to HIV was undoubtedly hampered by prejudice and stigma towards marginalised groups in society, namely gay men and those using drugs (particularly injecting them).
However, unexpectedly and courageously, the Conservative government recognised those who were most at risk of contracting HIV, and organised a package of measures to contain the spread of infection. One part of this was a media campaign based on public health messaging designed to reduce the risk of contracting the disease. But the government also invested in treatment for those who had been infected and engaged with people at high risk, such as those intravenously injecting drugs.
I worked in specialist HIV clinics for those using drugs. At the time, methadone and diamorphine were provided as an alternative to heroin. Regulations and protocols that restricted the prescribing of these medical opioids were eased, so we could ensure patients attending these clinics were given sufficient oral and injectable opioids that they didn’t need to source street heroin.
This meant they had access to medical grade opioids and, crucially, were given regular supplies of sterile injecting equipment. It was this that reduced the risk of contracting HIV, as some people would share injecting equipment when using heroin.
This impressive policy ran counter to the Conservative party’s ideology at the time, which was to punish rather than help those using drugs like heroin. It showed me how, even with traditional mindsets, it is possible to shift policy thinking in the face of a health crisis. And make no mistake, the global drug problem is an ongoing health crisis. Today, the UN points to the risks that intravenous users of drugs still face:
An estimated 13.9 million people injected drugs in 2022, with the largest number living in North America and East and South-East Asia … The relative risk of acquiring HIV is 14 times higher for those who inject drugs than in the wider population globally.
There are, though, signs of positive change in the way some countries and regions are changing their drug policies. Scotland recently opened a drug consumption facility in Glasgow – a safe place for people to use their drugs, usually injecting drugs like heroin. Such spaces provide access to sterile injecting equipment, reducing the risk of blood-borne infections such as HIV or Hepatitis. At the same time, they offer the opportunity to engage with people who have not accessed traditional health services.
Portugal, as mentioned earlier, has made substantial changes to the way it approaches drug use and the problems associated with it. This policy shift since 2000 has saved lives and brought a more humane way of treating people who develop problems with drugs.
Contrast this with the wasted effort and resources ploughed into the war on drugs – initiated by Nixon and followed by so many western governments ever since. My plea to policymakers is simple: employ the same evidence-based science you use for health issues towards drugs and problem drug use.
Science and research can help in many ways, if given the chance. Some of it might seem radical, like providing safe drug consumption spaces. Some of it is more mundane, but vital – like tackling inequality, a clear driver of problem drug use across the world.
But while we often look to politicians to take the lead on change, it is people – us – that really hold the solution. By far the greatest threat to people and society from drugs is ignorance and bigotry. So many lives have been lost to drugs because of shame, either as a driver of drug use or a barrier to seeking help.
Beliefs are notoriously difficult to shift. As with climate change, the most powerful driver of change is personal experience. We know that when a family or community is affected by a drug overdose, their beliefs and perceptions change. But this is not the way any of us should want to see change happen.
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Ian Hamilton 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.
The UK government’s new plan to foster innovation through artificial intelligence (AI) is ambitious. Its goals rely on the better use of public data, including renewed efforts to maximise the value of health data held by the NHS. Yet this could involve the use of real data from patients using the NHS. This has been highly controversial in the past and previous attempts to use this health data have been at times close to disastrous.
Patient data would be anonymised, but concerns remain about potential threats to this anonymity. For example, the use of health data has been accompanied by worries about access to data for commercial gain. The care.data programme, which collapsed in 2014, had an similar underlying idea: sharing health data across the country to both publicly funded research bodies and private companies.
Poor communication about the more controversial elements of this project and a failure to listen to concerns led to the programme being shelved. More recently, the involvement of the US tech company Palantir in the new NHS data platform raised questions about who can and should access data.
The new effort to use health data to train (or improve) AI models, similarly relies on public support for success. Yet perhaps unsurprisingly, within hours of this announcement, media outlets and social media users attacked the plan as a way of monetising health data. “Ministers mull allowing private firms to make profit from NHS data in AI push,” one published headline reads.
These responses, and those to care.data and Palantir, reflect just how important public trust is in the design of policy. This is true no matter how complicated technology becomes – and crucially, trust becomes more important as societies increase in scale and we’re less able to see or understand every part of the system. It can, though, be difficult, if not impossible, to make a judgement as to where we should place trust, and how to do that well. This holds true whether we are talking about governments, companies, or even just acquaintances – to trust (or not) is a decision each of us must make every day.
The challenge of trust motivates what we call the “trustworthiness recognition problem”, which highlights that determining who is worthy of our trust is something that stems from the origins of human social behaviour. The problem comes from a simple issue: anyone can claim to be trustworthy and we can lack sure ways to tell if they genuinely are.
If someone moves into a new home and sees ads for different internet providers online, there isn’t a sure way to tell which will be cheaper or more reliable. Presentation doesn’t need – and may not even often – reflect anything about a person or group’s underlying qualities. Carrying a designer handbag or wearing an expensive watch doesn’t guarantee the wearer is wealthy.
Luckily, work in anthropology, psychology and economics shows how people – and by
consequence, institutions like political bodies – can overcome this problem. This work is known as signalling theory, and explains how and why communication, or what we can call the passing of information from a signaller to a receiver, evolves even when the individuals communicating are in conflict.
For example, people moving between groups may have reasons to lie about their identities. They might want to hide something unpleasant about their own past. Or they might claim to be a relative of someone wealthy or powerful in a community. Zadie Smith’s recent book, The Fraud, is a fictionalised version of this popular theme that explores aristocratic life during Victorian England.
Yet it’s just not possible to fake some qualities. A fraud can claim to be an aristocrat, a doctor, or an AI expert. Signals that these frauds unintentionally give off will, however, give them away over time. A false aristocrat will probably not fake his demeanour or accent effectively enough (accents, among other signals, are difficult to fake to those familiar with them).
The structure of society is obviously different than that of two centuries ago, but the problem, at its core, is the same — as, we think, is the solution. Much as there are ways for a truly wealthy person to prove wealth, a trustworthy person or group must be able to show they are worth trusting. The way or ways this is possible will undoubtedly vary from context to context, but we believe that political bodies such as governments must demonstrate a willingness to listen and respond to the public about their concerns.
The care.data project, was criticised because it was publicised via leaflets dropped at people’s doors that did not contain an opt-out. This failed to signal to the public a real desire to alleviate people’s concerns that information about them would be misused or sold for profit.
The current plan around the use of data to develop AI algorithms needs to be different. Our political and scientific institutions have a duty to signal their commitment to the public by listening to them, and through doing so develop cohesive policies that minimise the risks to individuals while maximising the potential benefits for all.
The key is to place sufficient funding and effort to signal – to demonstrate – the honest motivation of engaging with the public about their concerns. The government and scientific bodies have a duty to listen to the public, and further to explain how they will protect it. Saying “trust me” is never enough: you have to show you are worth it.
Richard Milne receives funding from Wellcome under grant 220540/Z/20/A to the Wellcome Sanger Institute and the Kavli Foundation, grant G115418 to the University of Cambridge.
Jonathan R Goodman 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.
Visit a supermarket in 2025 and you’ll see that a tub of Lurpak butter can cost £5.70. It may strike you that this represents a staggering increase from £3.65 just three years ago, so instead of paying the premium, you reach for the supermarket’s own brand at £3.80.
This kind of switch, multiplied across millions of shopping baskets, represents a massive shift in consumer behaviour that has been largely invisible to official statistics. But that’s changing, as the UK embarks on its biggest revolution in measuring living costs since the second world war.
The Office for National Statistics (ONS) is transforming the way it tracks inflation, moving from painstakingly checking prices to analysing millions of real purchases through supermarket scanners. Consider olive oil, the price of which surged by 47% in a year, or milk, which jumped by more than 25%. While official statistics captured these price rises, they couldn’t track how households adapted – whether by switching to cheaper alternatives, buying less, or cutting back elsewhere. This was a blind spot in our understanding of consumer behaviour.
Currently, price collectors visit stores across the country each month, checking the prices of about 25,000 products. It’s like taking a snapshot of what’s on the shelves at a particular moment. But this system, designed decades ago, often misses the real impact of inflation on different household types in things like choosing different products or switching stores.
This is crucial for understanding the real impact of inflation on lower-income households. These families often have less flexibility in their budgets and must make more dramatic changes to their shopping habits when prices rise. During recent periods of high inflation, many on low incomes found that official figures didn’t match their experience, which was of even higher inflation than the headline rates. And there’s a good reason why.
Inflation statistics aren’t just academic exercises. They drive decisions that affect every aspect of our financial lives. The Bank of England uses them to set interest rates, which in turn influence mortgage payments and savings returns. Employers use them in wage negotiations. Government uses them to adjust benefits, state pensions and tax thresholds. Even commercial contracts, including mobile phone bills and rail fares, are often linked to inflation rates.
When these numbers don’t accurately reflect price pressures, it can have serious consequences. If official figures underestimate the inflation experienced by lower-income households, benefit increases might not keep pace with their actual cost increases. Similarly, if wages don’t rise in line with real living costs, workers effectively experience a pay cut.
The scanner data revolution
The ONS’s new approach, to be introduced next year, will analyse around 300 million price points from supermarket scanners, covering about half of all grocery transactions in the UK. Instead of just seeing what’s on the shelf, they’ll know exactly what prices people are paying at checkouts across the country.
This massive increase in data points – from 25,000 to 300 million – will allow for a more nuanced understanding of consumer behaviour.
The change will also enable quicker identification of emerging price trends. After the start of the COVID pandemic and the Ukraine war, prices of certain goods changed rapidly. Scanner data could help spot these changes faster, allowing for more timely policy responses. It might also reveal regional variations in price pressures.
Take the 2023 surge in food prices – while overall food inflation hit 19%, the impact varied dramatically across households. Current statistics would not capture lower-income families switching from fresh to frozen vegetables, or from branded to value ranges.
In times of cost pressures, shoppers may switch from fresh produce to frozen. sirtravelalot/Shutterstock
With scanner data, policymakers could spot these trends quickly and respond more precisely – perhaps by adjusting benefit payments or targeting support to specific households when essential food costs spike. Instead of waiting for quarterly surveys to reveal hardship, they will be able to see in real time how different groups are coping with price pressures.
The ONS recently said full implementation will come in 2026, a year later than planned. While it will have the technical capability ready by March 2025, it is opting for a year of parallel running to ensure accuracy. This approach reflects how crucial these statistics are for the economy.
It has already modernised other areas of price collection, including incorporating 40 million train fare data points and 300,000 used car prices. But grocery prices, being central to household budgets and varying significantly across different income groups, require extra attention.
The change is coming at a crucial time. Recent years have shown how rapidly economic conditions can change and how differently these changes can affect various segments of society. The pandemic, Brexit adjustments, and global supply chain disruptions have all contributed to price pressures.
For consumers, while the changes won’t directly lower prices, they could lead to more appropriate responses from the Bank of England, government and employers. Most importantly, it could ensure that official inflation figures better reflect the reality of the weekly shop, particularly during times of economic stress.
The transformation of inflation statistics might seem like a technical detail, but its implications reach far beyond government offices and economic reports. It’s about ensuring that the official measures of living costs better reflect the reality experienced by millions of households across the UK. In this challenging economic environment, that’s something worth getting right.
Marcel Lukas receives funding from the British Academy. He is the Director of Executive Education at the University of St Andrews and Fellow of the ONS. The presented views are his own and do not represent the ONS.
Portsmouth City Council’s administration has announced proposals that address immediate and unexpected financial pressures without impacting services to residents. Alongside this the plans also look to mitigate one of the largest financial pressures facing councils across the country.
Nationally councils are facing increasing demand and costs for social care services and temporary accommodation.
In Portsmouth the number of households in temporary accommodation has gone up by 54% in the last year to more than 500, while the costs have risen by 84%. This resulted in the current forecast of costs going £5.9m over budget in 2024/25, even higher than the 5.6m shortfall predicted in October 2024.
The budget proposals include investing £31m in acquiring properties to use as temporary accommodation for residents who might find themselves in situations where they have been made homeless. This would reduce the current need to rely on less suitable but costly privately-rented accommodation, with an expectation this will start to ease the existing budget pressure this year and significantly improve the position over the following two years.
Cllr Steve Pitt, Leader of Portsmouth City Council, said:
“It is good news for the city that we’re able to put forward a budget that addresses the immediate financial pressures without reducing services that people rely on.
However, there are funding problems nationally with social care and temporary accommodation that need to be solved. As insufficient government support is coming forward we want to take the proactive steps we can to address these issues and provide better solutions for our residents. The revenue budget savings need to come from £191m of council spending and will take the council’s total savings made in the last 14 years to £110m.
“Last year it was forecast we would need to save £1m in this budget, these spending pressures doubled that and we need to stop that happening in future years. By investing in our own temporary accommodation stock we can save the council tens of millions of pounds in the next decade.”
In addition to the longer-term view the council’s administration is proposing £2m of savings to its revenue budget, which will be met through efficiencies and generating extra income without seeing any significant reduction in services to the public.
The proposals also include raising council tax in line with government’s expectation of 4.99%, 2% of which will go specifically towards funding adult social care. In total the council tax increase would raise £5.1m for the council and see the average Portsmouth home’s (band B) council tax bill increase by the equivalent of £1.29 per week.
Cllr Pitt added:
“We are always mindful of the impact of the decision to increase council tax and don’t take the decision lightly, but the funding government gives us is based on the assumption we will increase council tax by 4.99%, and it still isn’t enough to pay for everything we need. Councils relying on significant use of reserves to balance budgets are increasingly finding themselves in severe financial distress and here in Portsmouth we will not allow that to happen. The only alternative to raising council tax, is to reduce services that people rely on and doing that would hurt our residents even more, especially those who rely on them the most.”
The council will be receiving additional income from renting out new business spaces while there will be increases of 10p or 20p an hour to parking charges in certain locations, in line with existing policy. This follows a freeze on parking charges last year, meaning it is a below inflation increase over the two-year period.
The proposals also include investment in regeneration and economic development, such as future development of the city centre. Funding has been allocated to develop options for regenerating Guildhall Square and finding a more efficient solution to the current Civic Offices building, alongside continued financial support for the City Centre North project, which will deliver new housing, leisure and retail space to the area.
The budget proposals will be considered at the council’s Cabinet meeting on 11 February and if accepted will then go to the Full Council meeting on 25 February for approval.
DENVER — Today, Governor Jared Polis, the Office of Just Transition (OJT) within the Colorado Department of Labor and Employment (CDLE), and the Office of Economic Development and International Trade (OEDIT) announced two new Coal Transition Community Assistance grants aimed at supporting local economic diversification efforts in Moffat and Rio Blanco Counties. These grants are part of the state’s broader initiative to support communities impacted by the decline of coal-powered electricity production in Colorado.
“Colorado is helping communities succeed in new ways, which will create more jobs for local workers and save people money. We are committed to helping communities in Western Colorado plan for the future,” said Governor Polis.
“Communities in Northwest Colorado are working hard to diversify their economies, and we are pleased to support those efforts. When economic development plans are based on local strengths and opportunities, we see greater impacts for Coloradans,” said Eve Lieberman, OEDIT Executive Director.
City of Craig Awarded $1,051,000 for Business and Industrial Park In Moffat County, the City of Craig has been awarded $1,051,000 to purchase property for the development of a new business and industrial park. The park will be strategically located with access to both the Union Pacific rail line and 1st Street in Craig, offering excellent opportunities for growth and investment.
“The Office of Just Transition plays a critical role in promoting stability, recovery, and sustainability for regions like NW Colorado, as we all anticipate the impacts from coal mine and power plant closures,” said Craig City Manager Peter Brixius. “In the face of these impacts, we are very pleased that OJT is a partner in our vision for the future growth and development of new and expanding opportunities for our region. The acquisition of this property in Craig will establish a business park in an area that will provide a skilled and ready workforce with a quality of life that includes world class recreational opportunities right in our backyard. We are planning a business park for those looking for flexibility and services, as they make fiscally responsible decisions, and at the same time realize their dreams.”
The City of Craig will collaborate with a private developer to begin the master planning process for the park. In addition to the Coal Transition Community grant, the project has been awarded $2.5 million in Congressionally Designated Spending to cover horizontal infrastructure costs.
Rio Blanco Water Conservancy District Awarded $100,000 for Wolf Creek Reservoir Study The Rio Blanco Water Conservancy District has been awarded $100,000 to conduct a comprehensive survey and report on the potential impacts of a new reservoir in Rio Blanco County. The study will evaluate the impact of the proposed new reservoir on agricultural production, flatwater recreation, and a countywide water augmentation plan designed to increase the supply of water available for beneficial use. This award will not bias various state and federal permitting processes required for this project.
“Our economy is transitioning away from fossil fuel electric generation, and a reliable water supply is a key component of this critical economic transition,” said Alden Vanden Brink with the Rio Blanco Water Conservancy District.
“This study will provide important information that will guide the future of the Wolf Creek Reservoir and help ensure that we understand the economic potential of the project,” said OJT Director Wade Buchanan. “By investing in such efforts, we continue to support the long-term prosperity of communities in the Yampa Valley.”
About the Office of Just Transition: Colorado created the Office of Just Transition within Colorado’s Department of Labor and Employment in 2019 to assist workers and communities that will be adversely affected by the loss of jobs and revenues due to the closure of coal mines and coal-fired power plants. Its purpose is to help workers transition to new, high-quality, jobs, to help communities continue to thrive by expanding and attracting diverse businesses, and to replace lost revenues. To learn more about the Office of Just Transition, its action plan and the corresponding legislation, please visit cdle.colorado.gov/offices/the-office-of-just-transition.
About Colorado Office of Economic Development and International Trade: The Colorado Office of Economic Development and International Trade (OEDIT) works with partners to create a positive business climate that encourages dynamic economic development and sustainable job growth. OEDIT partners with businesses and communities to offer financial, technical, and advisory assistance. From business retention services to incentives and funding, OEDIT supports economic growth across Colorado through its diverse programs and services. To learn more, visit oedit.colorado.gov.
CHARLOTTE, N.C. – Marc Weiss, 50, of Charlotte, was sentenced today to 40 months in prison followed by three years of supervised release for embezzling approximately $1.6 million from two small businesses, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. In addition to the prison term imposed, Weiss was ordered to pay restitution in the amount of $1,644,235.77.
Jason Byrnes, Special Agent in Charge of the United States Secret Service, Charlotte Field Office, and Sheriff Darren Campbell of the Iredell County Sheriff’s Office, join U.S. Attorney King in making today’s announcement.
According to filed court documents and the sentencing hearing, from 2016 to 2022, Weiss engaged in a scheme to defraud two Mooresville, N.C. small businesses that employed him as a bookkeeper. Over the course of the scheme, Weiss, who was a trusted employee, abused his position and access to the companies’ financial accounts to make more than 100 fraudulent transfers totaling $1.6 million from the companies’ accounts into bank accounts under Weiss’s control. Court documents show that Weiss began to embezzle from the second company while he was already stealing from the first one. To disguise the fraud, Weiss created fake entries in the victim companies’ books and records, categorizing the fraudulent transfers as payments to existing vendors for software development, and advertising and marketing expenses.
According to court records, Weiss used the embezzled funds, in part, to pay for his personal lifestyle, including rent payments for a luxury apartment uptown; payments for high-end vehicles, including an Audi and a Mercedes-Benz; purchases at luxury retail stores, including Luis Vuitton, Gucci, Neiman Marcus, and Tiffany, among others; and luxury vacations, including multiple stays in The Ritz Carlton hotel.
In October 2023, Weiss pleaded guilty to wire fraud. He will be ordered to report to the Federal Bureau of Prisons upon designation of a federal facility.
In making today’s announcement, U.S. Attorney King thanked the U.S. Secret Service and the Iredell County Sheriff’s Office for their investigation of the case.
Assistant U.S. Attorney William Bozin of the U.S. Attorney’s Office in Charlotte prosecuted the case.