WESTPORT, Conn., Oct. 16, 2024 (GLOBE NEWSWIRE) — Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, today announced that its Board of Directors (the “Board”) authorized the repurchase of up to $100 million of CODI’s issued and outstanding common shares.
Elias Sabo, CEO of Compass Diversified, commented: “This new $100 million repurchase program reflects our confidence in CODI’s long-term strategy and our continued growth prospects.”
Under the authorization, CODI may purchase common shares through December 31, 2024, subject to extension by the Board, utilizing one or more open market transactions, transactions structured through investment banking institutions, in privately-negotiated transactions or otherwise, by direct purchases of common shares or a combination of the foregoing in compliance with the applicable rules and regulations of the Securities and Exchange Commission (the “SEC”).
The timing of the purchases and the amount of common shares repurchased is subject to CODI’s discretion and will depend on market and business conditions, applicable legal and credit requirements and other corporate considerations.
About Compass Diversified
Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the industrial, branded consumer and healthcare sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit compassdiversified.com.
Forward Looking Statements
This press release may contain certain forward-looking statements, including statements with regard to the future performance of CODI and its subsidiaries. Words such as “believes,” “expects,” and “future” or similar expressions, are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in the risk factor discussion in the Form 10-K filed by CODI with the SEC for the year ended December 31, 2023 and in other filings with the SEC. Except as required by law, CODI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
In reference to the announcement on the valuation made on October 15 of 7-year and 15-year benchmark bonds denominated in euro with maturities of October 22, 2031 and October 22, 2039, respectively, the Ministry of Finance presents additional information on the structure of purchasers. The structure of bond purchasers was diversified. The buyers of 7-year bonds were investors from: Great Britain and Ireland (24%), Germany and Austria (17%), Benelux countries (11%), France (8%), Scandinavian countries (8%), Asia (8%), Southern Europe (7%), Central and Eastern Europe (excluding Poland) (4%), Poland (3%), United States (3%), Switzerland (2%) and other countries (5%). The entity structure of investors of 7-year bonds included: investment funds (47%), banks (22%), central banks and public institutions (18%), hedge funds (9%), insurance institutions and pension funds (3%) and other financial institutions (1%). The buyers of 15-year bonds were investors from: Germany and Austria (27%), Great Britain and Ireland (25%), Southern Europe (14%), France (9%), Central and Eastern Europe (excluding Poland) (6%), Poland (5%), Scandinavian countries (4%), Switzerland (4%), Benelux countries (2%) and others (4%). The entity structure of investors of 15-year bonds included: investment funds (58%), banks (15%), insurance institutions and pension funds (13%), hedge funds (12%), central banks and public institutions (1%) and other financial institutions (1%).
Source: United States House of Representatives – Congressman Glenn Thompson (5th District Pennsylvania)
COLLEGE TOWNSHIP, Pa.– Today, U.S. Representative Glenn “GT” Thompson announced the ClearWater Conservancy in College Township as the recipient of a $2 million Appalachian Regional Commission (ARC) Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) grant. This investment will construct a local conservation hub and increase environmental stewardship throughout the region.
“ClearWater Conservancy has been working for decades to advance voluntary conservation efforts throughout our region,” Rep. Thompson said. “The construction of the ClearWater Community Conservation Center will help boost ecotourism and agritourism throughout the area. With this project, there is going to be something for everyone to enjoy. Congratulations to ClearWater Conservancy and their many partners and volunteers for their continued dedication to Central Pennsylvania’s streams and natural landscape.”
ARC POWER grants target areas affected by the coal-related job losses. ClearWater plans to use the grant to increase public events, educational opportunities and community programming. A historic farmhouse and barn on the property will also be renovated. An ADA (Americans with Disabilities Act) accessible trail will be established to connect the center to the Spring Creek, a world-renowned trout fishing stream.
“I was thrilled to receive GT’s call telling me that ClearWater would receive a $2 million ARC grant for the new Community Conservation Center,” saidFord Stryker of ClearWater Conservancy. “We appreciate the Congressman’s support to secure this grant, which is a critical piece of the funding strategy because local philanthropy could not cover all the construction costs. The ClearWater Conservancy takes an active role in conserving land and protecting water resources for the preservation and creation of new outdoor recreation assets, working agritourism assets, and agribusinesses. These efforts have become increasingly important as Central Pennsylvania’s economy becomes more reliant on tourism and agriculture following the decline of Central Pennsylvania’s coal-related industries.”
In addition to ARC funds, local sources will provide $5,968,600, bringing the total project funding to $7,968,600.
ClearWater Conservancy is an active nonprofit, land trust association focused on environmental stewardship and education. ClearWater Conservancy has conserved 11,000 acres of land, restored 25 miles of streams, and restored 183 acres of riparian forest in Central Pennsylvania since 1980.
ARC is an economic development agency of the federal government and 13 state governments focusing on 423 counties across the Appalachian region. ARC’s mission is to innovate, partner, and invest to build community capacity, strengthen economic growth in Appalachia, and help the region achieve socioeconomic parity with the nation.
ARC POWER grants allocate federal resources to support communities and regions that have been affected by job losses in coal mining, coal power plant operations, and coal-related supply chain industries.
WARWICK, RI– Governor Dan McKee, Rhode Island Department of Transportation (RIDOT) Director Peter Alviti, Jr., Warwick Mayor Frank Picozzi, North Providence Mayor Charles Lombardi and South Kingstown Town Administrator James Manni, as well as Warwick Representative Joseph Solomon Jr. (D-District 22, Warwick) and Senator Matthew LaMountain (D-District 31, Warwick, Cranston), gathered at a Jefferson Boulevard site to highlight progress and announce new funding for RhodeRestore, Governor McKee’s Municipal Road Grant Program.
For FY25, RhodeRestore will provide $7 million in state funding to be matched at a ratio of 33 percent state funds and 67 percent local funds. The $7 million is being divided evenly among all 39 municipalities; each is eligible to receive up to $184,000. Cities and towns across the state are already submitting their applications; nearly 130 have been approved to date, with more than 100 more under review.
“RhodeRestore has been a huge success, enabling our administration to help cities and towns fund necessary improvements to roads that otherwise might not be able to be repaired for several years,”Governor Dan McKeesaid. “Together with the work we’re doing at the state level, we’ll improve Rhode Island’s infrastructure rankings while providing smoother, safer roads for our residents.”
“RIDOT is proud to help our cities and towns apply and be reimbursed for these funds,”RIDOT Director Peter Alvitisaid. “Most people don’t know that 80 percent of all the roads in Rhode Island are not maintained by RIDOT, but by our cities and towns. I thank the Governor for making it a priority to address the condition of our local roads.”
In FY24, the debut year of RhodeRestore, the program provided $20 million in state funding to municipalities in Rhode Island, serving as a one-third match to city and town dollars that funded two-thirds of the cost of locally maintained road repair projects. Collectively, the program yielded $74 million of improvements, funding repairs in 823 projects to 522 lane miles of road, 129,700 linear feet of sidewalks, and two bridges. All 39 cities and towns participated in the program.
The total value of projects in the second year of RhodeRestore is expected to reach $21 million, and could grow higher as municipalities complete their applications. RIDOT will approve the new applications on a rolling basis. Most communities have indicated they will start these new projects as soon as possible next spring.
“The Municipal Road Grant Program has been a resounding success for every community in this state,” saidRepresentative Joseph Solomon Jr.“I’m proud to have worked with the rest of the General Assembly to provide this funding which has been well-utilized for so many projects throughout the state. I’m gratified that this money has been put to good use, and I look forward to seeing more of these projects in the future.”
“Ailing roads and sidewalks are a serious issue that impacts quality of life in neighborhoods across Rhode Island,” saidSenator Matthew LaMountain. “The RhodeRestore Program is an outstanding example of how state and local partnership can effectively address these challenges. I am extremely grateful for the support this program is providing to help improve essential infrastructure in the City of Warwick and across our state.”
Today’s announcement was held at the Gamm Theatre on Jefferson Boulevard, which is the widest and longest municipal road in Warwick. The city initiated a $1.6 million project that paved a total of 6.1 lane miles from I-95 to Main Avenue. Jefferson Boulevard is an import commercial corridor linking several types of businesses, including shipping companies, financial institutions, retail and wholesale businesses, and the TF Green commuter rail station. Additionally, Warwick completed 34 projects using $1.42 million in SFY2024 funding. The total value of projects in Warwick is $5.2 million.
“The RhodeRestore program greatly stretched our paving budget which enabled us to take on some large projects in the city and for that, we are extremely grateful,” saidWarwick Mayor Frank Picozzi.
Also discussed was the repaving work in North Providence. Speaking of his city’s FY24 budget,North Providence Mayor Charles Lombardiexplained, “Our annual budget allowed us to pave 48 roads, but thanks to Governor McKee’s Municipal Road Grant Program, we were able to pave an additional 11 roads.” When combining the FY24 RhodeRestore funding and the new FY25 award, North Providence will be able to repave nearly 100 city roads.”
In Southern Rhode Island, South Kingstown is utilizing funds from both the first and second years of RhodeRestore to pave the entirety of Old North Road. This road not only serves many residential properties from Kingston village in Route 138 heading north toward Stony Fort Road and Slocum, but many students, staff, and faculty at the University of Rhode Island’s primary campus.
“The Town of South Kingstown is very appreciative of the $744K in grants received over the past two years from the Rhode Island Municipal Road and Bridge Program,” saidSouth Kingstown Town Manager James Manni.“This significant funding support from the Governor has allowed the Town to accelerate its road paving program by 25% impacting hundreds of properties and thousands of residents.”
Pawtucket Mayor Donald Grebien, who was able to upgrade two bridges with the RhodeRestore funding, also provided the following statement: “We are grateful to have received $184,000, and $684,000 last fiscal year from the RhodeRestore program this year, which will be dedicated to citywide paving projects. These funds will help address some of Pawtucket’s most urgent paving needs, improving bridge and road safety and enhancing the quality of life for our residents. We remain committed to working with state and local leaders to ensure that every dollar is used effectively to benefit our communities. These projects are about more than just roads and bridges—they’re about safety, accessibility, and building a stronger future for Pawtucket.”
The public can track the progress of RhodeRestore online athttp://www.ridot.net/RhodeRestore. The web also includes an interactive dashboard that reports on the number of approved projects and their dollar value by community.
What you need to know: California is expanding access to culturally-based substance use disorder (SUD) treatment services. Today marks the first time Medi-Cal will cover traditional health care practices that are deeply rooted in cultural practices and have been shown to improve health outcomes, particularly for individuals with SUDs.
Sacramento, California – Governor Gavin Newsom announced today that California is expanding access to culturally-based substance use disorder (SUD) treatment services.
After years of working toward this milestone, today marks the first time Medi-Cal will cover traditional health care practices in use since time immemorial. These are deeply rooted in cultural practices and have been shown to improve health outcomes, particularly for individuals with SUDs.
Native Americans continue to be disproportionately impacted by the opioid epidemic, with higher overdose death rates than other racial and ethnic groups in the United States.
As the home of the largest population of Native Americans in the country, California is committed to helping heal the historical wounds inflicted on tribes – including the glaring health disparities we see between Native communities and other groups. Like many of the issues that plague successive generations of Native people, those inequities can be traced back to the historical atrocities the U.S. inflicted on tribes across the country. By supporting greater access to traditional medicine and healing, we are taking another step toward a healthier, brighter future.
Governor Gavin Newsom
“Native American communities have long faced barriers to accessing traditional medicines and healing resources in this State,” said Tribal Affairs Secretary Christina Snider-Ashtari. “Support for these critical practices will again allow the rich and diverse Native populations who have lived here since time immemorial – along with those who now call California home – to access time-honored and tested methods to bolster wellness in Native families, communities, and tribal nations.”
Traditional healers and natural helpers
The Centers for Medicare & Medicaid Services’ (CMS) approval for California, alongside Arizona, New Mexico, and Oregon, allows two new categories of interventions to be covered by Medi-Cal, as developed by the state in partnership with tribal partners:
The first, provided by traditional healers, includes music therapy (i.e., traditional music, songs, dancing, and drumming) and spiritual interventions (i.e., ceremonies, rituals, and herbal remedies). A traditional healer is any person currently recognized as a spiritual leader with at least two years of experience practicing in a setting recognized by a Native American tribe and who is contracted or employed by an Indian Health Care Provider (IHCP).
The second, provided through natural helpers, includes navigational support, psychological skill building, self-management, and trauma support. A natural helper is a health advisor who delivers health, recovery, and social supports in the context of tribal cultures. Natural helpers can be spiritual leaders, elected officials, or paraprofessionals who are trusted members of a Native American tribe.
This marks a significant milestone in the state’s ongoing efforts to recognize the valuable contributions of traditional healing practices within the health care system. Traditional healing services have been trusted and tested methods of care for Native Americans for generations. They are deeply rooted in cultural practices and have been shown to improve health outcomes, particularly for individuals with SUDs.
Studies have demonstrated that these culturally centered approaches can enhance engagement and recovery outcomes, making them an essential component of holistic care for Native communities. Additionally, the state recognizes that tribal communities understand themselves best – and that each tribe has different needs, traditions, and histories – so each participating IHCP will create its own process to identify and credential its own traditional healers and natural helpers.
“CMS’ approval is first and foremost the fulfillment of the efforts of our tribal leader and Urban Indian Organization partners whose vision and steadfast advocacy made this a priority,” said State Medicaid Director Tyler Sadwith. “I am immensely proud that California tribal and Urban Indian communities now have access to culturally based traditional healing practices through Medi-Cal, marking a historic step toward health equity and honoring the rich traditions of our diverse Native communities.”
“It is vital that we honor our traditional ways of healing and understand they are as important and valuable as Western medicine,” said Kiana Maillet, licensed therapist and owner of Hiichido Licensed Clinical Social Worker Professional Corporation. “Traditional healing is deeply engrained in our blood memory, our cultures, and our communities. Without it, we are missing a piece of who we are. As we continue to regain access to traditional ways – ways that our ancestors were punished for in the past – we move forward with healing from historical traumas and improving the health of our future generations.”
Starting January 1, 2025, IHCPs can request Medi-Cal reimbursement for Traditional Healer and Natural Helper Services provided to residents of qualifying counties. In the coming months, the state will consult with tribes and tribal partners to develop guidance.
Bigger picture
In 2019, Governor Newsom apologized on behalf of the State of California to California Native American peoples, and announced the creation of the California Truth and Healing Council. Through collaborative and consultative work of the Council, the Governor’s Office of Tribal Affairs, and tribes across the state, a number of policies and programs have been developed so that the state can better address historical injustices and support tribes and tribal work in everything from health to climate.
Medi-Cal coverage for traditional healer and natural helper services strengthens the longstanding investments the state has made to expand SUD prevention, treatment, recovery, and harm reduction resources for California tribal and Urban Indian communities through the Tribal MAT Project.
This work also builds on the state’s broader efforts to address the opioid crisis and overdose epidemic, which is outlined in the Governor’s Master Plan for Tackling the Fentanyl and Opioid Crisis and on opioids.ca.gov, a one-stop tool for Californians seeking resources for prevention and treatment, as well as information on how California is working to hold Big Pharma and drug traffickers accountable in this crisis. More information on the state’s efforts can be found here.
Press Releases, Recent News
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As of November 4, the National Film Board of Canada and Telefilm Canada will be sharing the office space currently occupied by the NFB production team at 5475 Spring Garden Road in downtown Halifax.
October 10, 2024
As of November 4, the National Film Board of Canada and Telefilm Canada will be sharing the office space currently occupied by the NFB production team at 5475 Spring Garden Road in downtown Halifax. Sharing space will promote synergy between the two organizations and benefit Atlantic Canadian filmmakers, partners and producers, who will be able to meet with Canada’s two main federal film agencies under one roof.
Quotes
“The NFB has been a presence in Atlantic Canada and Acadia for more than 50 years, and we are loudly and clearly re-affirming our commitment to the region. From the idea to the screen, our teams are here to identify projects and receive proposals for animation and documentary films, supporting directors and co-producers, and developing marketing and distribution strategies. Our goal is to ensure that stories from this wonderful region are told and shared with Canadians across the country,” said Suzanne Guèvremont, Government Film Commissioner and Chairperson of the NFB.
“Stimulating and supporting the region’s film industry is a priority for Telefilm Canada,” said Julie Roy, Executive Director and CEO, Telefilm Canada. “This objective guided the development of our Atlantic Strategy, which we recently unveiled. Our goal is to create and provide opportunities that strengthen expertise and stimulate creative and financial competitiveness across the sector’s entire value chain. So this announcement is very much in line with our desire to strengthen our commitment, reflecting Telefilm’s spirit of collaboration with key players in the ecosystem.”
The NFB and Telefilm in Atlantic Canada
The NFB has been a presence in Atlantic Canada for more than 50 years and remains rooted in the region as a producer and co-producer.
Telefilm is proud to unveil its 2024-2027 Atlantic Strategy, developed for and with Newfoundland and Labrador, Nova Scotia, New Brunswick and Prince Edward Island industry professionals. Learn more here:
Founded in 1939, the National Film Board of Canada (NFB) is a one-of-a-kind producer, co-producer and distributor of engaging, relevant and innovative documentary and animated films. As a talent incubator, it is one of the world’s leading creative centres. The NFB has enabled Canadians to tell and hear each other’s stories for over eight decades, and its films are a reliable and accessible educational resource. The NFB is also recognized around the world for its expertise in preservation and conservation, and for its rich and vibrant collection of works, which form a pillar of Canada’s cultural heritage. To date, the NFB has produced more than 14,000 works, 7,000 of which can be streamed free of charge at nfb.ca. The NFB and its productions and co-productions have earned over 7,000 awards, including 11 Oscars and an Honorary Academy Award for overall excellence in cinema.
About Telefilm Canada
As a Partner of Choice, Telefilm Canada is a Crown corporation dedicated to the success of Canada’s audiovisual industry, fostering access and excellence by delivering programs that support cultural resonance and audience engagement. With a lens of equity, inclusivity and sustainability, Telefilm bolsters dynamic companies and a range of creative talent at home and around the world. Telefilm also makes recommendations regarding the certification of audiovisual coproduction treaties to the Minister of Canadian Heritage, and administers the programs of the Canada Media Fund. Launched in 2012, the Talent Fund raises private donations which principally support emerging talent.
Headline: Clean Energy Industries Rally Behind Illinois Bills to Save Ratepayers $3 Billion Through Grid Modernization
HB5856 and SB3959 will increase the reliability of the Illinois energy grid, protect ratepayers from rising costs, future-proof the economy, and help the state achieve climate goals
ILLINOIS, October 15, 2024 – Illinois clean energy industries are unified in supporting HB5856 and SB3959, new legislation that will future-proof Illinois’ energy grid and economy, lower consumer costs, meet climate goals, create family-sustaining careers, and mitigate increasing risks of blackouts.
“Clean energy is the future, and it’s my duty to work toward that future for the benefit of all Illinois residents,” said State Rep. Barbara Hernandez (D-Aurora), lead House sponsor of HB5856. “HB5856 and SB3959 will provide many benefits to Illinois for decades to come, from lowering consumer costs to ushering in thousands of jobs to preventing dangerous blackouts to bolstering our power grid to make Illinois an attractive investment for energy-intensive tech companies.”
These bills establish the first clean energy storage procurement mandate for the state to ensure a more reliable grid and address challenges that are slowing down renewable energy resource development. HB5856 and SB3959 would save Illinois consumers $30 per month on their energy bills, prevent more than $7 billion in blackout-related expenses, and create as much as $16 billion in economic benefits.
“Illinois has an ambitious plan to be a national leader in the climate change fight while supercharging the state’s clean energy economy,” said State Sen. Bill Cunningham (D-Chicago). “While Illinois is on the right path to meet its goals, it is at risk of not meeting its more immediate deadlines, which will arrive as early as 2030. HB5856 and SB3959 are thoughtful, strategic bills that will help unleash the clean energy economy’s full potential while strengthening our electric grid to make it more reliable, encouraging development and job growth, and creating additional protections for consumers and all ratepayers.”
The clean energy industries collectively agree that HB5856 and SB3959 are necessary to address the urgent need for more clean energy storage in Illinois. Federal, regional, and state regulators identify Illinois as at risk for falling short of energy needs. This means the state will face challenges in maintaining a reliable grid and that consumers may experience increased and unpredictable energy rates. Legislative action is needed now because deploying large-scale energy storage resources takes time. Illinois residents are already feeling the impact of regulators’ projections, as the July 2024 PJM Interconnection energy capacity auction saw an 833% increase in energy prices, due to an anticipated energy capacity shortfall that will increase power bills by as much as $30 per month for millions of Illinois residents within the PJM Interconnection territory. HB5856 and SB3959 will directly address this risk by providing incentives to supercharge more solar and wind energy and storage developments for a more diverse, reliable power grid.
“HB5856 and SB3959 are critical to building on the success of the landmark Climate and Equitable Jobs Act (CEJA) in Illinois,” said Andrew Linhares, Senior Manager, Central Region at Solar Energy Industries Association (SEIA). “The Illinois clean energy economy has flourished in recent years but there’s more work to be done to secure the state’s clean energy future. This thoughtfully crafted legislation will help unleash the full potential of solar and storage and help Illinois achieve 100% clean energy by 2050.”
A recent study by Mark Pruitt, former director of the Illinois Power Agency, founder of The Power Bureau, and a professor at Northwestern University, found that HB5856’s and SB3959’s target to create at least 8,500 MW of clean energy storage would provide up to $3 billion in consumer cost savings, save up to $7.3 billion in blackout-related costs through increased grid reliability, and generate up to $16.3 billion in economic activity in Illinois by 2050. The study also found that energy storage is the most cost-effective, immediate, and attainable long-term solution. Not only would HB5856 and SB3959 create those benefits, but they would also ensure Illinois meets the clean energy mandates established by CEJA.
“American Clean Power (ACP) was proud to help lead this collaborative effort to ramp up the procurement and deployment of storage and solar technologies in a way that delivers for the people of Illinois,” said Erika Kowall, Director of Midwestern State Affairs for ACP. “HB5856 and SB3959 will meet the state’s clean energy goals, unleashing the full potential of clean energy’s cost efficiency and economic benefits. We appreciate the leadership of Sen. Cunningham and Rep. Hernandez for swiftly taking up this legislation and hope it can be implemented quickly.”
“Energy storage will improve the reliability of the Illinois electric grid, and this legislation can’t come at a more important moment,” said Trish Demeter, Managing Director of Advanced Energy United. “The sooner we can begin adding more energy storage, the sooner we can address energy capacity shortfalls due to the ever-growing energy demand from residents and businesses, retiring power stations, and continued investments from energy-intensive industries, while providing savings to consumers and supercharging the Illinois economy.”
“All of these pieces work together – storage, grid reliability, ratepayer savings, climate goals, and equity,” said Lesley McCain, Executive Director of Illinois Solar Energy and Storage Association. “HB5856 and SB3959 tie together each of these pieces to move Illinois closer toward achieving its climate goals. Energy storage is essential to creating a more reliable grid. A more reliable grid is critical to protecting residents from rising prices and attracting investments from new businesses. Incentivizing growth in these areas will accelerate progress toward our climate goals, which will remove high-polluting energy generators from low-income areas. More growth will stimulate the creation of more high-quality job and career opportunities for all Illinois residents. We’ve made great progress toward the aggressive climate goals established by CEJA, but we must keep learning, adapting, and growing if we want to achieve those goals.”
Interconnection is another important topic addressed by HB5856 and SB3959. Interconnection is the process of connecting an energy generating system, such as a new residential solar panel installation or a community solar array, to the existing power grid. Currently, the process varies significantly from project to project, which can result in large, unanticipated costs to connect a system to the energy grid. Oftentimes, the large, unanticipated cost arises after the development is completed, which can terminate a project even if the system is built and ready to be energized. HB5856 and SB3959 aim to increase transparency and predictability on the interconnection process to reduce surprise changes and costs and maintain the integrity and safety of the power grid.
“There are many critical stages to solar energy project development, and interconnection is one of the most critical,” said Carlo Cavallaro, Midwest Regional Director of Coalition for Community Solar Access. “When the system has been built and all that is left is to connect it to the grid, this is not when a project should be stalled or failed. Unfortunately, it happens more than one might think, so HB5856 and SB3959 address this in a way that makes the process more transparent and collaborative. If we can make this process more efficient, then it’ll benefit all ratepayers because the process will be cheaper and faster; and it will help us add new clean energy resources to the grid and reach our clean energy goals faster.”
“Building on CEJA’s landmark goals, HB5856 and SB3959 are a progressive, evidence-based approach that will establish Illinois’ energy grid as the nation’s leader in clean, affordable, and reliable electricity. It will positively benefit electricity customers, improve grid reliability, and send a bold message far and wide that Illinois is open for clean energy business,” said Jeff Danielson, Vice President of Advocacy at Clean Grid Association. “We’re proud to stand with Illinois’ new generation of energy leaders in the Senate and House, who are focused on building the grid of tomorrow right here in the heartland of America. They are standing up for the clean energy opportunities Illinois’ citizens deserve and showing that a reliable grid and business investments of the future go hand-in-hand. The rest of the Midwest, indeed the USA, will take notice.”
HB5856 and SB3959 address the following:
Grid Resilience and Reliability
Establishes an 8.5 GW utility-scale cumulative storage procurement target for the Illinois Power Agency. Storage is a critical component of a stable and resilient grid, as it provides on-time support for grid infrastructure during high-usage Peak Load periods.
Creates a storage + solar/wind ecosystem that empowers increased storage development at all scales and multi-tech, from behind-the-meter to utility-scale.
Creates incentive programs for customers to adopt technology that reduces peak loads, behind-meter storage that reduces peak loads or exports, and combined community solar + storage developments.
Establishes a robust storage and Virtual Power Plant (VPP) ecosystem that makes it less likely a grid will need to tap non-renewable and high-pollutant fuels during periods of high usage, and ensures the grid uses clean, renewable sources that work together regardless of whether or not the sun is shining or the wind is blowing, increasing the overall reliability of the grid in a sustainable way.
Economic Benefits, Consumer Protections, and Agency Modernization
Creates a VPP program to provide cost-savings by tapping devices such as rooftop solar and storage to inject power to the grid during peak times, rather than burning extra non-renewable fuel to meet periods of peak demand.
Implements a more efficient interconnection process to encourage more clean energy development.
Fosters utility-scale solar development through new IPA storage procurement targets.
Creates new incentives that eliminate barriers for ratepayers to adopt solar and storage.
Creates guaranteed savings for consumers by requiring utilities to pass clean energy savings through to consumers.
Uncaps the residential Illinois Shines Block to eliminate waiting lists and enable more households to install solar, which will create more demand and jobs for clean energy developers and contribute to a more stable grid.
Stimulates new storage, solar, and wind development, which will lead to the creation of new high-quality clean energy jobs in every corner of Illinois.
Modernizes IPA procurement processes to ensure efficient procurement of clean energy and keeps Illinois on track to achieve CEJA goals.
HB5856 and SB3959 can be read in its entirety HERE. To learn more about the legislation, visit http://www.solarpowersillinois.com/legislation-hb-5856.
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About Solar Powers Illinois Solar Powers Illinois is a collaborative partnership between the Illinois Solar Energy and Storage Association, Coalition for Community Solar Access, and Solar Energy Industries Association that works to promote the adoption of solar power in Illinois for consumers, businesses, and communities through education, advocacy, and action.
About Advanced Energy United
Advanced Energy United educates, engages, and advocates for policies that allow our member companies to compete to repower our economy with 100% clean energy. We work with decision makers at every level of government as well as regulators of energy markets to achieve this goal. The businesses we represent are lowering consumer costs, creating millions of new jobs, and providing the full range of clean, efficient, and reliable energy and transportation solutions. Together, we are united in our mission to accelerate the transition to 100% clean energy in the United States. Advanced Energy United is online at AdvancedEnergyUnited.org and @AdvEnergyUnited.
About Clean Grid Association (CGA)
Clean Grid Association (CGA) is a 501(c)(6) nonprofit organization based in St. Paul, Minn., whose mission is to advance renewable energy in the Midwest. CGA has been an active stakeholder in the MISO process at the state and regional levels and a leading organization working on transforming state energy policy. CGA’s membership includes businesses investing in wind, solar, storage, hydrogen and transmission projects, as well as environmental nonprofit organizations, public advocacy groups & clean energy advocates who come together to build the clean energy grid of the future. Learn more at cleangridalliance.org.
About Coalition for Community Solar Access (CCSA)
CCSA is a national trade association representing over 130 community solar developers, businesses, and nonprofits. Together, we are building the electric grid of the future where every customer has the freedom to support the generation of clean, local solar energy to power their lives. Through legislative and regulatory advocacy, and the support of a diverse coalition — including advocates for competition, clean energy, ratepayers, landowners, farmers, and environmental justice — we enable policies that unlock the potential of distributed energy resources, starting with community solar. For more information, visit https://www.communitysolaraccess.org and follow the group on X (Twitter), LinkedIn, and Youtube.
About Illinois Solar Energy and Storage Association (ISEA)
The Illinois Solar Energy and Storage Association (ISEA) is a non-profit organization that promotes the widespread application of solar and other forms of renewable energy through our mission of education and advocacy. Representing over 150 solar businesses, ISEA is the state resource for renewable energy related policy developments, educational classes, events and access to local renewable energy businesses. http://www.illinoissolar.org.
About Solar Energy Industries Association (SEIA)
The Solar Energy Industries Association® (SEIA) is leading the transformation to a clean energy economy, creating the framework for solar to achieve 30% of U.S. electricity generation by 2030. SEIA works with its 1,000 member companies and other strategic partners to fight for policies that create jobs in every community and shape fair market rules that promote competition and the growth of reliable, low-cost solar power. Founded in 1974, SEIA is the national trade association for the solar and solar + storage industries, building a comprehensive vision for the Solar+ Decade through research, education and advocacy. Visit SEIA online at www.seia.org and follow @SEIA on Twitter, LinkedIn and Instagram.
COCONUT CREEK, Fla., Oct. 16, 2024 (GLOBE NEWSWIRE) — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC”) plans to announce its financial results for the third quarter 2024 before the opening of Nasdaq on Monday, November 4, 2024.
WLFC plans to hold a conference call with members of WLFC’s executive management team on Monday, November 4, 2024, at 10:00 a.m. Eastern Standard Time to discuss its third quarter 2024 results. Individuals wishing to participate in the conference call should dial: US and Canada (888) 632-5004, International +1 (646) 828-8082, wait for the conference operator and provide the operator with the Conference ID 512645. A digital replay will be available two hours after the completion of the conference call. To access the replay, please visit our website at http://www.wlfc.global under the Investors section for details.
A copy of the press release and an earnings supplement will be posted to the Investor Relations section of the Company’s website, http://www.wlfc.global prior to the call.
Willis Lease Finance Corporation
Willis Lease Finance Corporation leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Additionally, through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.
CONTACT:
Scott B. Flaherty
Executive Vice President & Chief Financial Officer
ENGLEWOOD, Colo., Oct. 16, 2024 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), a leading developer of net-zero hydrocarbon fuels and chemicals, is pleased to announce it received a conditional commitment for a loan guarantee with disbursements totaling $1.46 billion (excluding capitalized interest during construction) from the U.S. Department of Energy (“DOE”) Loan Programs Office (“LPO”) for its Net-Zero 1 project (“NZ1”) in South Dakota. With capitalized interest during construction, the DOE loan facility has a borrowing capacity of $1.63 billion.
The NZ1 facility is being built in Lake Preston, South Dakota. It will use 100-percent U.S.-sourced feedstocks and is designed to produce approximately 60 million gallons of sustainable aviation fuel (“SAF”), approximately 1.3 billion pounds of protein and animal feed products, and approximately 30 million pounds of corn oil per year. The design capability of the NZ1 facility, when combined with the Gevo business system, is expected to yield SAF with a net-zero carbon footprint on a lifecycle basis, including through the burning of the fuel. Gevo net-zero SAF projects are expected to catalyze the accelerated adoption of climate smart agricultural practices, support rural jobs and economic development, and reinforce domestic energy security.
NZ1 is the first-ever large-scale alcohol-to-jet (“ATJ”) project to receive a DOE LPO conditional commitment and is expected to provide critical new opportunities for South Dakota workers, farmers, and residents. We believe Gevo’s proprietary ATJ plant design represents the lowest cost-per-ton of carbon abatement among all of the current SAF production technologies.
“This marks a watershed moment for the Net-Zero 1 project and a critical step forward in Gevo’s mission to transform the aviation industry by providing a scalable, sustainable, and economical renewable-carbon-based jet fuel—SAF,” said Gevo CEO Dr. Patrick Gruber. “This valuable commitment to help finance NZ1, if finalized, should also attract other capital investments to unlock SAF commercialization given the robust due diligence conducted by the agency. The due diligence work by the DOE has been incredibly detailed and thorough, and the benefit is a substantially reduced execution risk profile for the project. We are grateful for the support from the Department of Energy’s Loan Programs Office.”
“NZ1 is the largest economic development project in South Dakota history,” said Gevo’s Senior Vice President of Public Affairs, Lindsay Fitzgerald. “We expect that NZ1 will kickstart new growth in the economy, create jobs, and present additional opportunities for the agricultural community in the region around Lake Preston, across South Dakota, and even reaching other states.”
According to a recent report from Charles River Associates (“CRA”), Net-Zero 1 is projected to generate significant economic and climate benefits. Specifically, the plant is expected to create more than 1,300 indirect jobs during its construction phase and 100 permanent jobs at the plant itself. This is in addition to hundreds of local indirect jobs created across the agricultural, manufacturing, and transportation industries, generating an annual economic impact of over $100 million.
The project design and engineering; and the operating and financing model, should serve as a template for future Gevo net-zero projects—potentially accelerating the timeline of SAF commercialization. Gevo also expects to track and verify the sustainability and carbon intensity of its products through its wholly owned subsidiary, Verity Holdings, LLC.
We believe this conditional commitment milestone reduces execution risk for securing the remaining large-scale equity investors who would accompany the proposed DOE-guaranteed debt and Gevo equity. Currently, the project is projected to generate high teens returns to equity investors.
While this conditional commitment indicates DOE’s intent to finance the project, DOE and the company must satisfy certain technical, legal, environmental, commercial, and financial conditions before the Department can enter into definitive financing documents and fund the loan guarantee.
A webcast replay will be available after the conference call ends on October 17, 2024. The archived webcast and accompanying presentation materials will be available in the Investor Relations section of Gevo’s website at http://www.gevo.com.
ABOUT GEVO
Gevo’s mission is to convert renewable energy and biogenic carbon into sustainable fuels and chemicals with a net-zero or better carbon footprint. Gevo’s innovative technology can be used to make a variety of products, including SAF, motor fuels, chemicals, and other materials. Gevo’s business model includes developing, financing, and operating production facilities for these renewable fuels and other products. It currently runs one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States. It also owns the world’s first production facility for specialty ATJ fuels and chemicals. Gevo emphasizes the importance of sustainability by tracking and verifying the carbon footprint of its business systems through its Verity subsidiary.
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, NZ1’s timing and capabilities, NZ1’s design and the Gevo business system, the ability of NZ1 to produce net-zero fuels, the economic impacts of NZ1, and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether because of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
PUBLIC AFFAIRS CONTACT
Heather Manuel VP of Stakeholder Engagement & Partnerships PR@gevo.com
INVESTOR CONTACT
Eric Frey, PhD VP of Finance & Strategy IR@gevo.com
Source: United States House of Representatives – Congresswoman Ann Wagner (R-MO-02)
Washington, D.C. –Representative Ann Wagner (R-MO) joined Ways and Means Committee Chairman Jason Smith (MO-08) and Ways and Means Representative Darin LaHood (IL-16) in hosting a roundtable discussion at Centene in St. Louis, Missouri, to hear from local business leaders and workers urging Congress to take action to prevent the looming $7 trillion tax hike proposed by the Biden-Harris Administration.
“I joined my Missouri colleague Congressman Jason Smith, Chair of the Ways and Means Committee, for a roundtable in St. Louis with local business leaders. We had an extremely productive conversation about the upcoming expiration of the Tax Cuts and Jobs Act and how much our local businesses, employees, and economy here in St. Louis will be harmed if taxes are hiked,” said Rep. Wagner. “If the Trump tax cuts expire, the average taxpayer in Missouri’s 2nd District would have their taxes raised by 20%, a nearly unmanageable cost, especially in the wake of Joe Biden and Kamala’s Harris’ rampant inflation.”
“It is abundantly clear that the tax hikes proposed by the Biden-Harris Administration would be devastating for the workers and job creators of the heartland and communities across this country,” said Chairman Smith. “The Ways and Means Committee has held 120 Tax Team events in 20 states across the country, and the message is clear. Workers’ wages are still lagging behind inflation and small businesses are struggling to grow. If we want to repair the economic damage of the last four years, Congress must build on the success of the Trump Tax Cuts and deliver pro-growth policies that allow families to thrive, businesses to expand, and workers to earn a living.”
“It was a pleasure to join Ways and Means Chairman Jason Smith in St. Louis to hear from Midwest businesses about the success of the Trump Tax Cuts, bringing business back to United States, incentivizing growth, and strengthening our workforce. The Trump Tax Cuts created the best economy of my lifetime for small businesses and workers of all backgrounds, and we can’t allow that progress to be undone,” said Rep. LaHood. “Under Chairman Smith’s leadership, Ways and Means Republicans have hit the ground running through our Tax Teams to ensure that we strengthen the Trump Tax Cuts, and that House Republicans are prepared for the ‘Super Bowl of Tax’ on day one of 119th Congress. As the Chair of the American Workforce Tax Team, I’ll continue to work with Chairman Smith and our Ways and Means colleagues to advance pro-growth tax policies that allow our communities in Illinois and across the country to thrive.”
Over the past several months, Ways and Means Committee Republicans have been traveling to communities throughout the country to listen to workers and small business owners on how best to extend key provisions of the 2017 Trump Tax Cuts before their expiration next year. The St. Louis roundtable marks the second tax team event Chairman Smith has personally hosted in Missouri to bring attention to the economic challenges facing the Show Me State.
During the event, attendees stressed the need for Congress to extend the Section 199A small business deduction, a provision in the 2017 Trump Tax Cuts that allows small businesses to compete fairly with larger corporations and helps them expand, hire new employees, grow wages, and reinvest in their communities. Participants noted that the Biden-Harris plan to see this provision expire would increase the tax rate paid by small businesses to over 43 percent – nearly 20 percentage points higher than what businesses pay in Communist China.
Roundtable attendees included:
Centene
Evernorth Health Services
Wideman Pools
Speed Fabrication LLC
Reinsurance Group of America (RGA)
Ameren
Hunter Engineering
Bunge
Sitelines
Emerson
To learn more about the work of the Ways and Means Committee Tax Teams, click here.
Source: Te Herenga Waka—Victoria University of Wellington
A new co-working space has opened that will see innovative local businesses based at Te Herenga Waka—Victoria University of Wellington.
The shared work space is called Taiawa Wellington Tech Hub and is in Rutherford House on the University’s Pipitea campus. A range of high-growth, innovative companies have moved in to the 51-desk space—tenants include climate tech businesses Cogo and CarbonInvoice, botanical prescription drug developer Evithé Bio, and scientific literature review assistant Litmaps.
Taiawa was launched in early June, with tenant businesses officially welcomed to the new space at an event attended by Wellington mayor Tory Whanau along with leaders from the University and the business and entrepreneurial community.
Professor Stephen Cummings, co-director of the University’s innovation space The Atom—Te Kahu o Te Ao, says Taiawa is an exciting development. “It will allow us to better work with Wellington’s entrepreneurial ecosystem and create opportunities for sharing ideas between innovative businesses and our staff and students,” he explains.
“It comes from a recognition that Rutherford House is the ideal place in the perfect location to host a co-working space like this. Opening up our buildings to the City in this way can create great synergies and value, not just for our students and researchers, but for Wellington’s business community.”
The initiative is a collaboration with WellingtonNZ, the regional economic development agency. Rebekah Campbell, who leads the Technology Sector Group at WellingtonNZ, says the need for a space for co-working, tech sector education and community events became evident when devising a strategy to grow the region’s economy.
“Wellington has a lot of individually successful tech companies, but even though it’s a compact city, we can do a lot better at promoting collaboration and skill-sharing. Wellington needs its tech sector to thrive, and our mission is to create 30,000 new high-value jobs in the next decade,” she says.
“We looked at other cities that have successfully accelerated the growth of their tech sectors, and a key component of every strategy is the creation of a central place where companies can work together, learn from each other and create a shared culture of ambition and collaboration. The kinds of hubs that were most successful were centred around universities.”
Atom co-director Dr Jesse Pirini says the concept of hosting a co-working space at Te Herenga Waka is “the culmination of years of engagement with the entrepreneurial community through The Atom, and hosting events such as Slush’D and TedX”. “So when the opportunity arose to work with WellingtonNZ, we leapt at it. It’s great to be able to collaborate with them on this unique partnership.”
One of the tenants in Taiawa Wellington Tech Hub is Cogo, which partners with large companies to help businesses and consumers measure and improve their carbon impact. CEO Ben Gleisner, who is a Te Herenga Waka alumnus, describes the new space as a “win-win-win” for all parties.
“It will provide unparalleled opportunities for the companies, the wider tech industry, and for business school students that they can’t get at other institutions in Aotearoa—there is the potential to collaborate on research, internships or dedicated projects. Ultimately, as we are supported to grow, there will hopefully be real jobs for students too.”
University Vice Chancellor Nic Smith says it’s vital that universities are front and centre in supporting the wider science, technology and innovation sector. “The development of this hub is a vote of confidence in Wellington’s business community, especially in the face of bad news stories around public sector lay offs. We believe in the technology and innovation industry, and we’re delighted to have the chance to foster its growth.”
About the name
The name Taiawa is a combination of two words, tai (ocean) and awa (river), which reflects the collaborative elements of entities from different sources combining together to operate a shared space, support innovative ideas and create a safe space for creativity. Taiawa is the name of a type of pipi found at low tide just below the surface of a sandy harbour flat—the act of collecting pipi as a community, intergenerational activity signifies the collaboration that will take place in the tech hub, and the interaction between companies, staff and students. The name was endorsed by Kura Moeahu, Rangatira of Te Āti Awa and Taranaki.
The contributions of some of Wellington’s most prominent businesspeople were celebrated last night at the 2024 Wellington Address, hosted at Pipitea Marae.
The event recognised the mahi and relentless energy of three individuals and one business who have made outstanding contributions to our city. They are people who inspire others and help Wellington’s business community prosper and thrive.
The Address was jointly hosted Wellington Chamber of Commerce, Te Awe Māori Business Network and the Wellington Pasifika Business Network, together known as the Power of Three.
More than 240 people attended last night’s sold-out event, where Prime Minister Christopher Luxon and Deputy Prime Minister Winston Peters addressed honourees and guests.
The gala dinner was headlined by the Wellington Address, an ode to the city and a vision for its future. This year’s Address was delivered by John-Daniel Trask of tech company Raygun, who highlighted the importance of innovation, contribution and the role of business in the city’s success.
The event was made possible with the help of our sponsors and partners, including Mercury IT, Pōneke Bakery and principal sponsor 2degrees.
“These awards are a celebration of the very best of our business community – hard work, dedication, innovation and a commitment to improving our city,” said Wellington Chamber of Commerce CEO Simon Arcus.
“This year’s honourees all embody that spirit. We all better off for their work, and I extend my thanks to all the honourees. At times like these, it’s a powerful reminder of Wellington’s character and its potential in years to come,” he said.
The honourees for the 2024 Wellington Address were:
Nominated by the Wellington Chamber of Commerce, sponsored by Mercury IT
Brian McGuinness
Nominated by Te Awe Māori Business Network, sponsored by Pōneke Bakery
Doug Hauraki
Nominated by the Wellington Pasifika Business Network
Adrian Orr
Company award, sponsored by 2degrees
The Wellington Company – Erskine Restoration
“The Wellington Chamber is delighted to recognise Brian McGuinness as an honouree of the 2024 Wellington Address,” said Simon Arcus.
“With over 50 years of commitment to the family business, LT McGuinness, Brian has shown exceptional leadership and made enduring contributions to the Wellington urban landscape. An award for Brian is, in a very real sense, a recognition of the contribution of the McGuiness family.
“The Wellington Address serves to recognise those who serve us beyond the call of their professional duty. We are humbled to be recognising such an outstanding contribution from more than 50 years of dedication to the capital; nobody else has literally built a legacy on Wellington’s footprint quite like Brian McGuinness,” Arcus said.
More information on the outstanding contributions of last night’s honourees is available below.
Brian McGuinness:With over 50 years of commitment to the family-founded construction company, LT McGuinness, Brian has shown exceptional leadership and made enduring contributions to the Wellington urban landscape.
Brian’s dedication to building excellence, his ability to develop long-standing local relationships, and his commitment to his word have contributed to the success of many of Wellington’s iconic buildings.
Doug Hauraki:Generations of Māori students, public servants and business owners will be delighted to know Doug Hauraki is this year’s Te Awe Wellington Māori Business Network honouree.
In bestowing this honour on Doug, Te Awe acknowledges his more than 55 years of service to Māori in both the private and public sectors and his lifelong devotion to better education and employment opportunities for Māori and Pasifika people.
Adrian Orr:The Wellington Pasifika Business Network us proud to recognise Adrian Orr as the Pasifika honouree for this year’s Wellington Address. The award celebrates Adrian’s 40 years of outstanding service to the banking and financial services sector, most recently as Governor of the Reserve Bank of New Zealand and its role of ensuring the stability of our financial system.
Of Cook Island and Irish descent, Adrian has been a trailblazer in his chosen profession, with a strong intergenerational view of economic and social issues and solutions.
The Wellington Company – Erskine Restoration:
After undertaking a painstaking 23-year journey to develop a hilly, heritage-listed site in Island Bay, The Wellington Company delivered a premium medium-density housing development which restored and retained a unique part of our architectural history.
Many others would have shied away from the challenge of restoring the Category-1 listed Erskine Chapel. The 1929 landmark had been neglected, vandalised and red-stickered for many years, as well as being subject to a lengthy legal challenge, despite the desire to protect it. But rather than walking away from the project, The Wellington Company took the step many would not, privately funding the vast bulk of the $7 million restoration and strengthening project to preserve it for generations to come.
Note:
The Power of Three is a joint agreement between the Wellington Chamber of Commerce, the Wellington Pasifika Business Network, and Te Awe Māori Business Network. The three business membership organisations share knowledge, services and cultural expertise to help grow businesses in the Wellington region.
When Canada legalized recreational cannabis use on Oct. 17, 2018, there were concerns about the potential impacts. Would it trigger greater cannabis use, boost economic growth or otherwise affect the country’s health, safety and finances?
Patients already using cannabis legally for medical purposes were especially concerned. They worried that recreational legalization might prompt physicians to stop authorizing cannabis treatments. Or that cannabis producers would abandon the small medical market to pursue the larger recreational one.
As someone who studies the business aspects of cannabis legalization, I wondered about these issues, too. It wasn’t clear how patients, producers or health-care providers would react to recreational legalization. Legal medical use itself had only become accessible a few years earlier.
Accessing medical cannabis
Canada began allowing medical use of cannabis in 1999. But it remained difficult to get until regulations changed during 2014-15.
The new rules allowed any physician to authorize patients to use cannabis. Those patients could then register to buy products online from licensed cannabis producers. Online orders could not exceed a 30-day supply.
(Instead of buying cannabis products, some patients grew their own plants instead. My research hasn’t examined that.)
Under this new procedure, the number of patients registering to buy cannabis soared. They grew from 7,914 in June 2014 to 330,344 in June 2018, nearly one per cent of Canada’s population.
However, registration levels differed greatly between provinces. In June 2018, registrations represented almost three per cent of Alberta’s population, versus only 0.1 per cent of Québec’s.
Interestingly, less than half of registrants bought medical cannabis in any given month. Perhaps they simply didn’t need the full dose. Or maybe they found it too expensive, inconvenient or ineffective.
June 2018 was also when the federal government passed its new cannabis legislation. The law took effect in October 2018, when recreational sales of dried cannabis and cannabis oils began. After initial product shortages were overcome, recreational cannabis sales grew rapidly as more stores opened, even during the COVID-19 pandemic. Consumer choice expanded in December 2019 when edibles and vapes became available.
This is where my new study came in. I analyzed government data on patients’ use of Canada’s medical cannabis system between 2017 and 2022. This included how many patients registered, how often they placed orders, and how much cannabis they bought.
Evolving system usage
I found that as soon as parliament passed the new cannabis law, medical registrations began slowing down, despite recreational legalization still being four months away.
But the response differed noticeably between provinces. For example, registrations kept growing steadily in Québec but plummeted rapidly in Alberta. Other provinces were in between.
My data doesn’t say why those changes occurred. Perhaps Alberta, with its copious cannabis clinics, had many patients only mildly interested in using cannabis medically. Conversely, maybe Québec was still catching up with other provinces on medical use.
When recreational sales started in October 2018, patient registrations seemed unaffected. Their average purchase sizes didn’t change either. But they bought medical cannabis slightly less often.
This might have been due to retail convenience. At that time, medical producers and recreational stores were selling similar products: dried cannabis and cannabis oils. So, perhaps some patients started topping up their supplies occasionally at recreational stores but saw no reason to leave the online medical system completely.
When edibles and other processed products began selling in December 2019, registrations dropped further. But the patients who remained bought medical cannabis slightly more often and in increasingly larger quantities.
Product selections might explain this patient split. Perhaps producers with good edible products retained their customers and received larger orders from them. Conversely, maybe medical producers offering few edibles lost their patients to the recreational shops and their vast product assortments.
In summary, Canada’s medical cannabis system experienced big changes after recreational legalization. But it didn’t disappear.
Will other countries see similar outcomes if they allow recreational cannabis?
A changing world
In Europe, for example, The Netherlands is experimenting with recreational sales. Meanwhile, Germany has legalized recreational use but not retail sales. Will those countries experience medical cannabis changes like Canada did?
Other countries, like Australia and New Zealand, are somewhere in between. They’re seeing rapid growth in legal medical use and illegal recreational use, but haven’t legalized recreationally. That’s roughly where Canada was 10 years ago.
Will Canada’s medical and recreational cannabis experiences make these other countries more interested in legalization, or less? Either way, I hope they can learn from our experiences as they chart their own cannabis paths.
Michael J. Armstrong 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.
HOUSTON, Oct. 16, 2024 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that its Sustainability Report for 2023 is now available on the Company’s website at https://www.targaresources.com/sustainability. The report advances Targa’s sustainability disclosures and provides a review of Targa’s performance for calendar year 2023 against various environmental, social, and governance topics that we believe are important to our industry and our business.
Highlights of Targa’s Sustainability Report for the 2023 calendar year include the following:
Decreased Gathering & Boosting (G&B) sector methane intensity by 19%;
Exceeded the original methane intensity goals established through the ONE Future participation;
Conducted aerial methane surveys at all gathering and processing assets;
Increased handheld camera methane monitoring to quarterly at all compressor stations and bi-monthly to all gas plants;
Exported approximately 5.6 billion gallons of liquefied petroleum gas (“LPG”) globally that can displace higher GHG-emitting fuels;
Realized continued safety performance with a 25% decrease in Employee Total Recordable Incident Rate since 2021;
Received nine (9) midstream safety recognition awards for exceptional safety records;
95% of our new hires resided in the communities in which we operate;
91% of Board of Directors are independent; 100% independent Audit, Compensation, Nominating and Governance, Risk Management, and Sustainability Committees;(1)
36% of Board of Directors are women;(1) and
Board-level Sustainability Committee continues to oversee management’s implementation of strategy to integrate sustainability into various business activities to create long-term stakeholder benefits.
Please refer to the full sustainability report for additional context regarding these highlights as well as other sustainability matters. The report references the Global Reporting Initiative (“GRI”) Standards, International Financial Reporting Standards’ (“IFRS”), Sustainability Accounting Standards Board’s (“SASB”) Oil & Gas Midstream Standard, and the Task Force on Climate-Related Financial Disclosures (“TCFD”). In addition, Targa engaged an external third party to perform an attest review engagement for certain greenhouse gas emissions and employee safety data metrics disclosed in Targa’s 2023 Sustainability Report for the year ended December 31, 2023.
(1) As of May 17, 2024.
About Targa Resources Corp.
Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.
Targa is a FORTUNE 500 company and is included in the S&P 500.
Certain statements in this release are “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. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance and capital spending. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics or any other public health crises, commodity price volatility due to ongoing or new global conflicts, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, the timing and success of business development efforts and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s Sustainability Report for 2023 and its filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Source: United States Senator Peter Welch (D-Vermont)
Participants Discussed the Barriers to Building Housing Quickly and More Affordably in Vermont
VERGENNES, VT – Today, Senator Peter Welch (D-Vt.) brought together housing developers, construction industry experts, and local and State leaders in Vergennes to discuss barriers to building housing quickly and more affordably in Vermont. They also discussed ways the State and federal governments can ease the housing shortage crisis, and what has been done to speed housing development for working families.
“With half of Vermonters spending more than a third of their income on housing, it’s clear why housing costs are an issue that is top of mind for folks in Vergennes and across the State. This is a great place to start a family, grow a business, and be part of an extraordinary community—but too many people, from young families to seniors, have been priced out of making that dream a reality,” said Sen. Welch. “This rural housing crisis cuts our state deep—it hurts our local economy, makes it harder to attract and retain workers, and it’s threatening the success of our hospitals. Vermont is modeling the changes necessary to solve this crisis, and we need to keep working together to break through the barriers to build faster and more affordably.”
Attendees discussed the programs and positive steps Vermont has taken to make it easier to build housing, and how to improve current programs or institute new programs to build more manufactured and modular housing. They also discussed ways to cut through red tape in the permitting process and lower the price of building and development.
Senator Welch was joined by Nate Formalarie, Deputy Commissioner, Vermont Department of Housing and Community Development; State Representative Matt Birong — Addison 3; Elise Shanbacker, Executive Director of Addison Housing Works; Maura Collins, Executive Director of Vermont Housing Finance Committee; Li Ling Young of Efficiency Vermont; Zeke Davisson from Summit Properties; and Aaron Stewart from Stewart Construction. The event was hosted at the Armory Lane Senior Housing, affordable apartments and community spaces for seniors owned and operated by Addison Housing Works.
A recent report from Vermont’s Department of Housing and Community Development found the State is “likely to need an additional 24,000 to 36,000 additional homes by 2029.” The same report found that between 2019 and 2023, single family homes increased in price by 38% and mobile homes with land increased in price by 37%.
See photos from the event below:
Recently, Senator Welch joined Senators Heinrich and Wyden in introducing the New Homes Tax Credit Act, which would provide tax credits to incentivize new investments and additional resources for home construction and renovations for working families. He also recently helped introduce the bicameral Homes Act, legislation that would help build and preserve as many as 1.3 million homes in small towns, big cities, and rural communities. This summer, he introduced a bill to help more working families in rural communities purchase a home through the USDA’s home loan program.
17 October 2024 – The Reserve Bank of New Zealand – Te Pūtea Matua (RBNZ) has released its first voluntary Climate-related Disclosure – Ngā Whakapuaki e Pā ana ki te Āhuarangi for FY2023/24, outlining our progress in understanding, monitoring, and managing climate-related risks.
Assistant Governor Simone Robbers says climate change has the potential to present significant risks to both the financial system and the real economy, particularly during downturns.
“This disclosure details the steps we are taking to enhance RBNZ’s resilience to risks while supporting the transition to a climate-resilient, low-emissions economy,” Ms Robbers says.
Disclosing climate-related risks and opportunities is becoming a mainstream practice among private and public sector organisations globally, and we are committed to keep pace with industry best practice.
“We are kaitiaki (guardians) of New Zealand’s financial ecosystem,” says Ms Robbers.
“Anything that challenges the stability of the financial system and our economy, such as climate-related risks, is our core business. We will continue to demonstrate transparency in future disclosures, playing our part in building a climate resilient financial system.”
Our disclosures are guided by the Network for Greening the Financial System (NGFS), which provides a framework tailored to meet the needs of central banks and supervisors. While the Aotearoa New Zealand Climate Standards (NZ CS) are well-suited for private sector entities, the NGFS approach allows us to address the distinct challenges we face.
Ms Robbers has co-chaired the NGFS workstream ‘Net Zero for Central Banks’ alongside Paolo Angelini, Deputy Director General for Financial Supervision and Regulation for Banca D’Italia since 2022, which includes the subgroup on disclosures for central banks that we now co-lead alongside the Bank of England.
Our inaugural disclosure is focused primarily on ‘baseline’ disclosures — the foundational information that the NGFS recommend central banks should provide. Going forward, we aim to incorporate more of the NGFS ‘building block’ disclosures, which relate to advanced components of central bank climate-related risk identification and management.
Headline: Governor Cooper Issues Executive Order Increasing Unemployment Payments for North Carolinians in the Wake of Hurricane Helene
Governor Cooper Issues Executive Order Increasing Unemployment Payments for North Carolinians in the Wake of Hurricane Helene bconroy
Today, Governor Roy Cooper issued an emergency Executive Order authorizing the North Carolina Department of Commerce, Division of Employment Security, to increase the amount of weekly unemployment payments available to North Carolinians in the aftermath of Hurricane Helene.
“As I’ve traveled for days around western North Carolina I’ve heard concern from many small business owners about their employees who are unemployed because their businesses are temporarily closed,” said Governor Cooper. “This Executive Order will increase unemployment benefits and help ease the financial burden for impacted North Carolinians as they work to recover from the storm.”
As a result of this Order, weekly unemployment benefits will increase from a maximum of $350 a week to a maximum of $600 a week. Prior to the executive order, many low-income and part-time workers would have received less than the $350 weekly maximum. To ensure that these workers receive necessary benefits in the wake of Helene, the order will also increase benefits by $250 a week (up to the $600 cap) for all eligible workers. This order is tied to the State of Emergency for Hurricane Helene, and will remain in effect until the end of the Emergency or until it is rescinded.
State unemployment benefits will still be capped at 12 weeks, but workers who lived or worked in the impacted North Carolina counties and are out of work due to the disaster will qualify for up to 26 weeks of federal benefits, to be paid through March 29, 2025 under the federal Disaster Unemployment Assistance program. To provide relief to employers impacted by Helene, and due to the extraordinary size of the trust fund balance, employers would not see any increase in unemployment taxes due to the increased benefit.
While federal law requires the elevated state payment to apply statewide, the increased benefits would largely go to workers from counties impacted by Helene, with unemployment data through October 13th showing that workers from those counties make up 79% of new claims — 19,735 — since the disaster. This percentage is likely to increase as more counties are added to the disaster declaration.
Only eight states have a lower weekly maximum unemployment benefit than North Carolina. The $350 cap was set in 2013 and has not been changed since, even as rising wages in the state continue to grow North Carolina’s Unemployment Insurance Trust Fund from which benefits are paid. Meanwhile, the balance in North Carolina’s Unemployment Insurance Trust Fund now stands at over $4.8 billion, the second-largest such fund in the United States.
The Division of Employment Security, which administers both the traditional state unemployment benefits and federal disaster unemployment assistance benefits, estimates that, for every 10,000 North Carolinians who receive elevated state benefits, the additional cost to the Unemployment Insurance Trust Fund would be $2.5 million per week. If 50,000 North Carolinians from impacted counties received the full additional state benefit for all 12 weeks, the additional cost to the Trust Fund is estimated to be $150 million. Those same 50,000 workers would then be eligible for an additional 14 weeks of federal benefits, totaling an additional $175 million paid by the federal government.
Many currently unemployed workers will likely return to work before receiving the full benefit they are entitled to claim, so the actual fiscal impact of the increased benefits is expected to be lower.
The Division of Employment Security estimates that it may take between two and three weeks for impacted individuals to see the impact in their weekly benefit checks. The benefits for eligible claimants will be retroactive to September 29, 2024 and adjustment payments will be issued for benefit weeks going back to that date.
The North Carolina Council of State unanimously concurred with this executive order, consistent with the North Carolina Emergency Management Act.
A Sweeping Research Platform Can Now Mimic Steady, Predictable Water Power (and More)
NREL’s energy simulator can mimic the grids of the future—and now, this massive, virtual and real-world research platform can simulate water power, too. Photo by Werner Slocum, NREL
Say you want to study something big—like a community power grid, a massive pipe system, or roadways crisscrossing the entire United States—but none of it exists, at least not yet. How do you study these invisible labyrinths to make sure they will be safe and efficient?
Good question, and here is the answer: You do that at the National Renewable Energy Laboratory (NREL) on a platform called the Advanced Research on Integrated Energy Systems (or ARIES, for short).
NREL’s experts have built a research platform that can create 3D simulations of entire power grids—either existing or theoretical—that contain thousands or even millions of different energy technologies. For example, researchers can populate an existing grid with wind turbines, solar panels, batteries, nuclear facilities, electric vehicles, or even smart devices, like our cell phones, to see how they could impact our future grid.
But until recently, one grid puzzle piece has not been well represented.
“The part that has been missing is: How can we simulate or represent water power devices?” said Rob Hovsapian, a mechanical engineer at NREL and an ARIES research advisor who helped introduce hydropower into the platform.
With ARIES, researchers can play out and plan for almost any future grid scenario. For example: How could huge amounts of renewable energy impact different community grids? And how could hydropower help our power system weather hurricanes, cold snaps, cyberattacks, and other disruptions?
“It allows us to do those ‘what if’ scenarios,” Hovsapian said. “In the real world, you’re limited to what’s there.”
Now that ARIES has integrated water power into its grid simulations, researchers can explore even more “what if” scenarios to prepare for the grid to come. Photo by Bryan Bechtold, NREL
Now, we can ask “what ifs” about water power technologies, like hydropower and the more nascent marine energy (sometimes called ocean energy because it often comes from powerful ocean waves, currents, and tides, but it can refer to energy from river currents as well). Though very different, both water power technologies generate predictable energy, making them a dependable partner for more variable energy sources, like wind energy and solar power. Those renewables, along with energy storage (like batteries), have been part of ARIES for a good while now. It was time to sprinkle a little water into the mix.
“Now that we can use ARIES to simulate hydropower, we can study more scenarios in more locations and even potential future energy systems,” said Jerry Davis, the laboratory program manager for ARIES. “We want to represent as many renewable generation sources as we can.”
But that is harder than it might sound.
A Hydropower Simulator Helps a Remote Alaskan Village
When fishers return to the harbor in the remote village of Cordova, Alaska, they enter a cove full of mast spikes resembling hundreds of mini-church spires. Those fishers—and there are a lot in Cordova—bring in salmon, halibut, rockfish, and trout but also something less desirable: a 400% increase in energy demand, which can strain the small village’s microgrid, a standalone power system that depends on just two hydropower plants and diesel generators (and diesel must be flown or boated in, often at great expense).
And that is a problem.
Cordova’s microgrid—and everything it powers, including hospitals and homes—is vulnerable to spikes in energy demand from the summer fish bonanza and Alaska’s dangerously cold winters as well as extreme weather events, like avalanches and droughts. The village needed solutions—novel ways for their microgrid to bob and weave with all these changes, so they can match energy supply to demand, especially when their economy or lives depend on it.
But you cannot simply tinker with such a critical system, hoping your manipulations do not cause a blackout or irreparable damage. Nor can you study something that does not exist, like batteries or solar panels that have yet to be installed.
That is where NREL and ARIES come in.
The ARIES platform uses data from real-world wind turbines, solar panels, hydropower generators, and more to create a highly accurate virtual simulation of different grid scenarios and how they might react to changes in energy demand, weather, and higher levels of renewable energy. Graphic by Josh Bauer, NREL; photo by Joe DelNero, NREL
The village was one of the first communities to directly benefit from ARIES’ hydropower emulation platform, which, like the rest of ARIES, relies on hardware and software to accurately simulate the town’s spiderweb of energy devices. ARIES’ software programs, which are built on real-world data, can mimic actual grids (like Cordova’s microgrid), so researchers can manipulate the Cordova system in the safety of a computer simulation. Soon, ARIES will also be able to connect actual hardware, like a hydropower generator, to these virtual simulations so the system can receive live feedback from real tech and learn from it.
For hydropower, ARIES’ simulation capability is especially valuable. Although researchers can install experimental solar panels and wind turbines at a laboratory field site, they cannot replicate hydropower plants—they are simply too big and too specific to certain river sites or geography.
Instead, Mayank Panwar, a senior research engineer at NREL, and Hovsapian built what they call a Real-Time Hydropower Emulation Platform, which can mimic real-world hydropower facilities in real time—one second in the hydropower simulator equates to one second in the real world. As of today, their 2.5-megawatt emulator uses data from actual hydropower plants (including those in Cordova) to inform its simulations.
“As we add more and more technologies to ARIES and there’s more and more variability and uncertainty with the grid, such as wind and solar, hydro will play a key role in providing stability to the grid,” Hovsapian said. “But how would we quantify that? ARIES will be an ideal environment for us to do that.”
With ARIES, Hovsapian can ask more “what if” questions, like what if this hydropower plant in Cordova is paired with a 10-megawatt battery or 3 megawatts of solar panels instead of 1? And how do these changes impact the grid’s reliability? Thanks to ARIES, Cordova has their answers—and a more resilient grid, too.
No other system in the world can accomplish this kind of plug-and-play simulation, Hovsapian said.
And it is not just hydropower that benefits.
Getting Marine Energy to Communities Quickly
Marine energy is still in the early stages of development, but these technologies can be valuable sources of clean energy for communities that have ample flowing water and little else. Like Cordova, the Alaskan village of Igiugig also relies on expensive shipments of diesel fuel. Many island communities off the coast of Maine struggle to maintain stable power when weather whips through. Communities in Hawaii, where energy costs are typically higher than in the rest of the country, also often depend on costly imported fuels.
And yet, all three of these areas have one powerful thing in common: hefty amounts of water. With energy from river currents, waves, and tides, each community could improve its energy resilience and potentially achieve its clean energy goals, too.
There is just one problem: Before communities opt to install one of these nascent devices, they need greater confidence that the technologies can deliver on their promise—and that is exactly what ARIES can provide.
Prabakar (right) uses the ARIES research platform to simulate how marine energy technologies, like river current devices, could slot into existing grids and improve a community’s energy resilience. Photo by Joe DelNero, NREL
“A big part of our mission is de-risking energy technologies, so communities are comfortable deploying them,” Davis said.
At NREL, researchers are studying marine energy technologies “to make sure that things don’t fail in the field,” said Kumaraguru Prabakar, a research engineer at the laboratory. “Even if a small river generator is powering a small house, it is powering the grid, so you have to make sure it’s safe.”
And for that—and more complicated analyses—he needs ARIES.
Right now, Prabakar is examining how marine energy technologies slot into preexisting grids. Currents tend to be consistent, but rivers are still subject to freezes and droughts. Waves and tides are predictable but do not always churn out the same amount of power throughout the day or year. With ARIES, Prabakar can assess how these variations might impact different power systems and whether other solutions, like energy stored as green hydrogen, could balance out these fluctuations.
ARIES’ biggest gift might be time. In the last decade, researchers used to take years to validate new energy technologies, Prabakar said. But now, with ARIES, experts can significantly speed up that process (ARIES can even pair up with similar simulators at other national laboratories to pull in even more data, capabilities, and answers). Speed is especially critical to accelerate the development of marine energy technologies so they can help fight climate change sooner rather than later.
“If somebody comes up with an idea to add water power, they should be able to deploy it in less than 12 months,” Prabakar said.
“It’s exciting,” Hovsapian added. “There are a lot of changes coming, and ARIES can help us prepare.”
Learn more about the Advanced Research on Integrated Energy Systems (ARIES), the nation’s most advanced platform for energy system integration research and validation at scale. And subscribe to the NREL water power newsletter,The Current, to make sure you do not miss a water power update.
Australia’s three million unpaid carers are the unsung heroes of our nation, and the Albanese Labor Government is making sure they are recognised, valued and empowered in their vital work.
During National Carers Week, Minister for Social Services Amanda Rishworth is today opening public consultation on the draft National Carer Strategy, which delivers on an election commitment to set the direction and course for our effort to drive positive change for carers.
While the former Gillard Labor Government began this important work in 2011, there has been no Commonwealth carers’ strategy since 2015, with the Coalition Government abandoning their duty to support carers.
Through the Strategy, carers have told us what they need to continue their caring roles while participating fully in society themselves.
“With ingenuity and resilience, carers keep Australia going. For us to keep going, we must be recognised and supported as individuals with our own needs, who attend to the needs of others,” Australian carers say in the Strategy’s Statement from Australia’s Carers.
They highlight the shortfalls in the caring system that especially let down young carers who feel like they have to conceal their care work out of embarrassment, lifelong carers who worry about who will look after their loved ones as they themselves age, and carers sandwiched between generations, often forgoing relationships, income, and wellbeing.
The new Strategy will support better decision-making on policies that affect carers and explains where we will prioritise our efforts – making sure carers feel like they are recognised, that they have a voice, and that they can continue to pursue their own ambitions and passions while they care for their loved ones.
The draft Strategy has been guided by the National Carer Strategy Advisory Committee and informed by public consultations in all states and territories in metropolitan, regional, and remote locations, as well as online, and through a public submission process.
Ensuring the draft National Carer Strategy can be reviewed by unpaid carers, former carers, the wider support sector and anyone with an interest in the sector is critically important.
“Carers play an integral role in the nation’s health and social care systems; often making significant personal sacrifices – foregoing careers, social lives, and educational opportunities to care for loved ones,” Minister Rishworth said.
“The National Carer Strategy is designed for anyone in an unpaid caring role and it’s our aim to drive meaningful change for this important group of selfless Australians.
“We want to hear from people right across Australia about their thoughts on best supporting unpaid carers. Carers play a vital role in enhancing the quality of life and independence of those they care for, and make critical but often unrecognised contributions to the nation’s economy, health and social care systems.”
The Government has committed $3.8 million to develop the National Carer Strategy.
This is in addition to boosted support for carers since the Albanese Labor Government was elected including:
Providing over $911 million over four years to 2026-27 for carer support services, including the Carer Gateway service;
Launching the Carer Inclusive Workplace Initiative with funding of $2 million to ensure carers are better supported to participate in the workforce;
Providing over $18 million to change the participation limit for Carer Payment, removing travel, education or volunteering time from the calculation of the participation limit, along with changes to Temporary Cessation of Care days, so carers who want to work, study or volunteer can more easily and flexibly do so; and
Providing $10 million to double support for young carers to continue their education through the Young Carer Bursary program.
Public consultation on the draft Strategy is now open on DSS Engage until 3 November 2024.
More information is available on the DSS Engage website.
National Carers Week is held this year from 13 – 19 October and is funded by the Department of Social Services. For more information on how to get involved, visit National Carers Week.
AUCKLAND, Thursday 17 October 2024: The countdown to Tuia 2024 has begun, and in less than a week Māori leaders, entrepreneurs, and innovators will gather in Hamilton for an event focused on providing insights and mobilising action that will shape Māori business and industry for future generations.
There has been a transformative shift in the country’s population, with one million people identifying as Māori and nearly 30 per cent of New Zealanders under 25 as Māori. The Service sector contributes over $120 billion yearly to the GDP, which accounts for about 30 per cent of our country’s economic activity. Within the Service sector are an estimated 130,000 Māori, including around 7,000 Māori-owned businesses contributing over $14 billion in GDP. This represents a significant pillar of New Zealand businesses and the future workforce, with the Māori economy valued at $70 billion in GDP.
Tuia 2024 is hosted by Ringa Hora, one of six industry-led workforce development councils established to ensure that vocational education meets industry needs and gives a stronger voice to Māori business and iwi development through qualification development and skills leadership.
With sessions structured around the Māori economy, mobilising Māori business and mokopuna futures, the event will explore the journey of Māori industry, recognise excellence, and drive innovation to ensure a sustainable and prosperous future for our mokopuna.
Ringa Hora Poumatua, Ben Ngaia, says, “Tuia 2024 is an opportunity for attendees to celebrate the achievements of Māori, learn from our shared experiences, and mobilise for a prosperous future. We know vocational education plays an important part in building the skills of our future workforce to help our mokopuna achieve success.”
Ringa Hora will welcome the attendees and a premium lineup of speakers on the day: Tahu Kukutai, Professor of Demography at the National Institute of Demographic and Economic Analysis, University of Waikato, Tahana Tippet-Tapsell, General Manager of Culture and Legacy at Tūaropaki Trust, James Whetu, Consultant and Owner Operator of Durham Street Precinct in Ngāruawāhia, Brittany Teei, board member of Whāriki Māori business network and Poutama Trust, Anton Matthews, business owner of Hustle Group and advocate for Te Reo Māori, and Dan Te Whenua Walker, experienced business development leader for Microsoft and Deputy Chair of Māori Tourism.
Keynote speaker Tahu Kukutai says, “Our current data tells a powerful story of Māori resilience—today, with a population nearing one million, Māori are a thriving, youthful force in Aotearoa. With Māori comprising a growing share of those entering the workforce, the smart move is to plan for this future”.
Ringa Hora will also present a preview of their research, Tirohia ki Tua, which delves into the profound impact Māori have had on the Service sector and the success of Māori entrepreneurship through applying Te Ao Māori values, while capturing the aspirations of attendees for their mokopuna.
“As Māori, our potential within the Service sector is limitless, and Tirohia ki Tua offers an opportunity to reflect on our entrepreneurial legacy and envision the future we’re building for our mokopuna,” says Camilla Karehana, Strategic Advisor Māori.
LOGANSPORT, Ind., Oct. 16, 2024 (GLOBE NEWSWIRE) — Logansport Financial Corp., (OTCQB, LOGN), parent company of Logansport Savings Bank, reported net earnings for the quarter ended September 30, 2024 of $192,000 or $0.31 per diluted share, compared to earnings in 2023 of $371,000 or $0.61 per diluted share. Year to date the company reported net earnings of $808,000 for 2024 compared to $1,501,000 for 2023. Diluted earnings per share for the nine months ended September 30, 2024 were $1.32 compared to $2.46 for the nine months ended September 30, 2023. Total assets at September 30, 2024 were $256.9 million compared to total assets at September 30, 2023 of $244.3 million. Total Deposits at September 30, 2024 were $216.6 million compared to total deposits of $219.4 million at September 30, 2023. The company paid a total of $1.35 per share in dividends in the first nine months of 2024 compared to $3.85 in 2023. This included a special dividend of $2.50 per share in 2023.
The statements contained in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involves a number of risks and uncertainties. A number of factors could cause results to differ materially from the objectives and estimates expressed in such forward-looking statements. These factors include, but are not limited to, changes in the financial condition of issuers of the Company’s investments and borrowers, changes in economic conditions in the Company’s market area, changes in policies of regulatory agencies, fluctuations in interest rates, demand for loans in the Company’s market area, changes in the position of banking regulators on the adequacy of our allowance for loan losses, and competition, all or some of which could cause actual results to differ materially from historical earnings and those presently anticipated or projected. These factors should be considered in evaluation of any forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
Ningde, China, Oct. 16, 2024 (GLOBE NEWSWIRE) — Oriental Rise Holding Limited (“Oriental Rise” or the “Company”) (NasdaqCM: ORIS), an integrated supplier of tea products in mainland China, today announced the pricing of its initial public offering (the “Offering”) of 1,750,000 ordinary shares at a public offering price of $4 per ordinary share, for total gross proceeds of $7 million, before deducting underwriting discounts and offering expenses. The Offering is being conducted on a firm commitment basis. The ordinary shares are expected to commence trading on Nasdaq Capital Market under the ticker symbol “ORIS” on October 17, 2024.
The Company has granted the underwriter an option, exercisable within 45 days from the date of the underwriting agreement, to purchase up to an additional 262,500 ordinary shares at the public offering price, less underwriting discounts and expenses. The Offering is expected to close on October 18, 2024, subject to customary closing conditions.
The Company intends to use the proceeds from the Offering for: i) settlement of the outstanding amount for the acquisition of the contractual agreement rights of some of its existing tea gardens; ii) establishment and construction of its new production plant; iii) acquisition of new machinery and equipment; and iv) general corporate purposes and working capital.
US Tiger Securities, Inc. is acting as sole book runner for the Offering. The Crone Law Group is acting as counsel to the Company. VCL Law LLP is acting as counsel to the underwriter with respect to the Offering.
A registration statement on Form F-1, as amended (File No. 333-274976), relating to the Offering was previously filed with the Securities and Exchange Commission (“SEC”) by the Company, and subsequently declared effective by the SEC on September 30, 2024. The Offering is being made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus related to the Offering may be obtained, when available, from US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022, or by telephone at +1 646-978-5188.
Before you invest, you should read the final prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Oriental Rise Holding Limited
Oriental Rise Holding Limited is an integrated supplier of tea products in mainland China. Our major tea products include (i) primarily-processed tea consisting of white tea and black tea, and (ii) refined white tea and black tea. Our business operations are vertically integrated, covering cultivation, processing of tea leaves and the sale of tea products to tea business operators (such as wholesale distributors) and end-user retail customers in mainland China. We operate tea gardens located in Zherong County, Ningde City in Fujian Province of mainland China. For more information, visit the Company’s website at https://ir.mdhtea.cn/.
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.
LONDON, Oct. 16, 2024 (GLOBE NEWSWIRE) — Crown LNG Holdings Limited (“Crown” or “Crown LNG” or the “Company”), a leading provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, today announced that on October 16, 2024, Crown filed the unaudited financial statements of Crown LNG Holding AS, a wholly owned subsidiary of Crown, for the six-month period ended June 30, 2024 on Form 6-K with the U.S. Securities and Exchange Commission (“SEC”). The filing is available online through the SEC’s website.
Crown LNG continues to execute against its strategic priorities – moving its India and Scotland projects toward Final Investment Decision, pursuing revenue generating M&A, and exploring possibilities for liquefied natural gas export facility development. These priorities were laid out and discussed in the Crown’s Corporate Update, which is available on the Crown LNG Investor page here.
About Crown LNG Holdings Limited Crown LNG is a leading provider of offshore LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations, which represent a significant addressable market for bottom-fixed, gravity based (“GBS”) liquefaction and floating storage regasification units, as well as associated green and blue hydrogen, ammonia and power projects. Through this approach, Crown aims to provide lower carbon sources of energy securely to under-served markets across the globe. Visit http://www.crownlng.com/investors for more information.
SANTA FE – Gov. Michelle Lujan Grisham has ordered all flags in the state of New Mexico to be flown at half-staff in honor of former state senator John Arthur Smith, who passed away on October 7. Flags will be lowered from sunrise on October 18 until sundown on October 21.
Smith served the people of New Mexico for over three decades, representing District 35—which includes Dona Ana, Hidalgo, Luna, and Sierra Counties—from 1989 until his retirement in 2020. As the longtime chairman of the New Mexico Senate Finance Committee, he earned the respect of colleagues across the political spectrum, guiding the state’s fiscal policy with prudence and ensuring that funds were used wisely to benefit New Mexicans.
Smith championed wise state investments in healthcare and education, particularly in his hometown of Deming, where he advocated for improved hospitals and schools. He also played a pivotal role in the creation of the Early Childhood Education and Care Department trust fund, laying the foundation for universal, high-quality childcare in New Mexico and serving as a national leader in early childhood education reform.
“Senator John Arthur Smith’s dedication to our state, his financial expertise, and his commitment to improving the lives of New Mexicans will leave a lasting legacy,” said Lujan Grisham. “It is fitting to honor his life of public service through this period of mourning.”
Source: United States House of Representatives – Congressman Sanford D Bishop Jr (GA-02)
THOMASVILLE, Ga. –Congressman Sanford D. Bishop, Jr. (GA-02) announced that several counties in Georgia’s Second Congressional District were added to the Federal Emergency Management Agency’s (FEMA) Major Disaster Declaration for Hurricane Helene. The counties include:
Thomas County– Individuals and households are now eligible to apply for financial and direct services (FEMA Individual Assistance)
Dooly County, Grady County, Mitchell County, and Thomas County – local governments are now eligible for FEMA Public Assistance for repairs or replacement of disaster-damaged facilities (roads, bridges, water control facilities, public buildings and equipment, public utilities, parks, recreational, other facilities)
Before and since Hurricane Helene hit Georgia and the southeast United States, Congressman Bishop has been in contact with the White House, U.S. Department of Agriculture (USDA) and FEMA. He and his staff have also been in regular contact with the Georgia Governor’s office, Georgia Emergency Management and Homeland Security Agency (GEMA), and nongovernmental partners as they prepared for and responded to fallout from the hurricane.
“I have worked with federal, state, and local officials to make sure our efforts are coordinated to expedite assistance to our families, farmers, business owners, cities, and counties,” said Congressman Bishop. “Working with Congressman Austin Scott, Senators Ossoff and Warnock, the entire Georgia Delegation, and our Georgia state government partners we helped guide President Biden, Vice President Harris, and other federal emergency agencies through our Georgia communities that were hit hard by this storm.”
“Seeing the impact, first-hand, is crucial in understanding the challenges we face and appreciating the resilient spirit of Georgians as we rebuild,” added Congressman Bishop. “I will continue working to assure that Congress provides the needed resources to Georgia communities impacted by this hurricane.”
In response to Hurricane Helene, Congressman Bishop, along with his congressional colleagues urged President Biden to issue an expedited major disaster declaration for Georgia counties significantly impacted by the storm. That request was honored within 24 hours. He also sent a letter to U.S. House and U.S. Senate leadership asking for appropriations to be made available as soon as possible to fully fund unmet agricultural disaster relief needs.
Over 8,500 federal personnel have been on the ground, working side-by-side with state and local officials, to help survivors get what they need to begin their recovery. As of today, FEMA has approved over $860 million, which includes $507 million in assistance for individuals and communities affected and over $351.5 million for debris removal and activities to save lives, protect public health and safety and prevent damage to public and private property.
Georgia residents that need emergency or immediate assistance should contact GEMA viahttps://gema.georgia.gov/hurricane-heleneor apply for financial assistance atdisasterassistance.gov. These websites provide updated information on resources and shelters.
Georgia residents that need farm or ranch assistance can reach out to the USDA either by calling 877-508-8364 or visitinghttps://www.farmers.gov. For personalized assistance for your individual operation, use theDisaster Assistance Discovery Tool (https://www.farmers.gov/protection-recovery/disaster-tool) to determine eligibility.
WASHINGTON, DC – Today, U.S. Representative Val Hoyle and U.S. Senator Ron Wyden and U.S. Senator Jeff Merkley, announced $25,018,750 in federal funding for the Pacific Coast Intermodal Port (PCIP) Terminal Planning Project. The investment comes from the U.S. Department of Transportation’s Nationally Significant Multimodal Freight and Highways Projects (INFRA) grant program.
“I am thrilled today that the U.S. Department of Transportation has awarded over $25 million for the Port of Coos Bay Intermodal Project,” said U.S. Representative Val Hoyle. “This project has the potential to bring over 8000 jobs to Southwest Oregon’s coastal communities and to strengthen our nation’s supply chain. Today’s announcement brings us one step closer to rebuilding the South Coast as an economic engine for the state and introduces more pathways to the middle class.” She added, “I would like to thank Secretary Buttigieg, the U.S. Department of Transportation, the White House, and my partners in Congress for their support and persistence to help bring this project closer to fruition.”
“Today’s $25 million announcement takes a significant step forward to landing this Port of Coos Bay project that will ultimately generate thousands of good-paying jobs on the South Coast and extend huge economic and environmental benefits throughout Oregon,” said U.S. Senator Ron Wyden. “There’s still more work to be done, and I am committed to keep pressing the case along with Congresswoman Hoyle and Senator Merkley to provide all the federal investment this project has earned and fully deserves.”
“This $25 million federal investment from the Bipartisan Infrastructure Law is a historic win for Oregon’s rural South Coast and our entire state and is the kickstart that Coos Bay’s transformative container port project needs. This project will create thousands of good-paying union and permanent local jobs, boost the economy, and help address bottlenecks in the national supply chain, while cutting greenhouse gas emissions,” said U.S. Senator Jeff Merkley. “I have long championed this critical project alongside Representative Hoyle, Senator Wyden, Port leadership, and a diverse community of stakeholders, and together we advocated to the highest levels of the Biden administration to ensure this federal commitment. Today’s win moves the Port of Coos Bay forward toward the vision of becoming the first fully ship-to-rail port facility on the West Coast and is a testament to the power of collaboration and never giving up—the Oregon Way.”
In addition to creating thousands of jobs in a rural area that has been too often overlooked, the PCIP project will benefit the nation’s supply chain by easing congestion at West Coast Ports. It will also be the nation’s first ship-to-rail port on the West Coast, meaning the facility will not need to rely on trucks to move cargo. The project is also anticipated to use renewable energy sources to provide green electricity, which will allow for the use of electric-powered cargo handling equipment, vehicle charging, and onshore power. The Port will be fitted with electric power plug-ins to power ships at berth (known as “cold ironing”) during the process of unloading.
With the recent establishment of a new Social Investment Agency – described as a “driving project” for the government by Finance Minister Nicola Willis – it seems New Zealand has come full circle on this approach to social welfare.
First championed by then finance minister Bill English in 2015, social investment was rebranded “social wellbeing” by Labour-led governments between 2017 and 2023. But Willis signalled before last year’s election that its time had come again.
In a speech in 2022, she argued taxpayer money wasn’t being spent responsibly by the Labour administration, and that a targeted social investment approach was needed. During the 2023 election campaign, the National Party promised social investment would return.
Essentially, the policy involves using data to calculate which groups of people cost the government the most over a lifetime. Interventions aimed at reducing that cost are then targeted at those people. The idea is that early investment saves later social costs.
Right now, however, we don’t know the finer details of how Willis intends to implement the policy. But we do know how it worked in the past – and what lessons might be drawn from its earlier, short-lived implementation.
An actuarial approach to welfare
In New Zealand, the idea of social investment can be traced back to the fifth National government which held office for three terms between 2008 and 2017.
In September 2015, English outlined his approach in a Treasury lecture, explaining how the government had commissioned Australian actuary firm Taylor Fry to calculate the lifetime welfare cost to the state of people on benefits.
Typically, actuaries use statistics to calculate risk for insurance companies, information that is then used to set premiums. English said the Taylor Fry calculations would identify which beneficiary “is going to cost us the most money”.
The answer was single parents receiving a benefit. Consequently, they were deemed most in need of direct government intervention, including giving an approved mentor control of their money.
According to English’s version of social investment, data enabled the government to calculate the “forward liability” of its citizens, and target interventions accordingly.
This is not the only way to define social investment, however, and other countries often adopt a more universal approach. For example, European models tend to focus on social equality and inclusivity rather than targeting specific groups.
English’s model focused on applying benefit sanctions and conditions. The aim was to “reduce the lifetime public cost of the welfare-recipient population, thereby offering fiscal returns-on-investment, absorbed into public coffers”.
Finance Minister Nicola Willis: social investment is a ‘driving project’ for the National-led government. Getty Images
No accounting for structural disadvantage
Official thinking about social investment predates the establishment of the unit and agency. In 2015, the second of two reports produced by an expert panel review of the Child, Youth and Family agency (now Oranga Tamariki) recommended a new child-centred social investment agency be created.
The report’s analysis and advice focused on intervening early to reduce the risk of vulnerable children growing up to be beneficiaries, teen parents, substance users or prisoners (among other negative outcomes).
It was suggested these potential future behaviours almost always stemmed from the actions (or inactions) of parents. Māori were identified as being especially costly due to their over-representation in child protection statistics. They were described as a “forward liability associated with poor outcomes”.
The proposed response was early intervention and social investment. That would include the removal of very young children from whānau/families where they were perceived to be at high risk. The reasoning was that the predicted damage might then never eventuate, thereby saving taxpayer dollars.
As my doctoral research found, no consideration in the report was given to the effects of systemic conditions such as poverty and the legacies of colonisation.
Costs to the state
The social investment model, with its emphasis on financial liability to the state, became a major influence on Oranga Tamariki’s practice.
It led to an increase in the early removal of tamariki Māori, especially babies, from their birth families – as demonstrated in the 2019 Hawkes Bay “uplift” case, where social workers attempted to remove a Māori baby soon after birth.
In 2017, the new Labour government promised a review of the Social Investment Agency, renaming it the Social Wellbeing Agency in 2020. The social development minister at the time, Carmel Sepuloni, said the agency would have a more holistic approach. Data would be only one of a number of considerations when delivering social services.
But with the agency now reverting to its original name, the idea of using data to guide early intervention seems to be central again. It’s unclear, however, whether the actuarial approach of Bill English’s earlier model will return.
Nicola Willis does seem to be aware of the criticism of the English-era model’s apparent focus on fiscal risk and returns. She has stressed that measuring other outcomes is also important.
As yet, though, there is no indication the policy’s highly targeted approach to welfare will account for structural factors such as colonisation and poverty.
Given the government’s drive to remove any special policy considerations based on te Tiriti of Waitangi/Treaty of Waitangi, the risk remains that some Māori will again come to be viewed as a “cost” to the state.
Eileen Joy 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.
Good morning and it’s so great to be with you all this morning.
I would like to begin by acknowledging the Traditional Owners of the lands on which we meet, and pay my respects to elders past and present.
And importantly, I want to take this opportunity to acknowledge every carer in the room today – and the important role each of you play in caring for your family members and loved ones.
I would like to thank both Women’s Agenda and Carers Australia for inviting me to speak with you this morning, as we gather to recognise National Carers Week.
National Carers Week is a time where we celebrate and recognise all carers in Australia – many of you here today – who put their heart and soul into caring for someone close to them.
But it is more than this – it is also an important opportunity to raise awareness among the wider community around the important role of unpaid carers in our society, what caring looks like and who carers are – so that anyone who is providing care knows there is support out there.
I’m proud our Albanese Government has continued to fund and support this week in helping to foster a deeper understanding of our nation’s carers.
But as every carer in this room will know, the value and importance of the work unpaid carers do is something to be celebrated beyond just a single week.
Three million Australians provide unpaid care and support to a family member or friend across the country according to the latest data.
Time and time again, we see the incredible dedication and resilience of unpaid carers, including many women who provide unwavering support to their families and loved ones.
The importance of your role in supporting a family member or friend to achieve their daily tasks, as well assisting them through daily challenges cannot be overstated.
Carers provide a sense of connection and stability for the loved ones in our lives.
Carers remind us every day that the spirit of support and compassion knows no bounds.
Some people might not even recognise that they are carers – they are simply getting on with helping someone they love or care for who needs support.
Our Government deeply respects and appreciates the immense work of Australia’s unpaid carers who provide support. We recognise that these efforts often come at a personal expense.
Better supporting carers is something – as the Minister responsible for this area – I’ve been focused on since coming to Government.
We know there is a diverse range of carers. From young carers, caring for a parent, grandparent or sibling, to carers who look after a partner, an elderly parent or a child. There are carers who work, study or volunteer along with their caring roles and there are carers who focus solely on caring.
There are carers who have just become carers and carers who have been caring for decades.
We recognise that every carers’ experience is different, some may be caring for someone day in and day out, and others may be providing occasional care. And we know that the type of support carers need will differ depending on the stage of their caring journey and who they are caring for.
Whatever your caring situation, or the situation of someone you know or love, we want every carer to feel recognised, valued and supported to fully participate in society and in their caring roles.
One area in particular we are doing that is through our Carer Inclusive Workplace Initiative, which was something developed as a result of the Jobs and Skills Summit we convened shortly after coming to Government.
At the Summit a clear theme emerged that carers often struggle to balance their caring role with employment.
The Initiative recognises that employers have a crucial role to play in creating carer-inclusive workplaces, through the adoption of flexible work arrangements and creative inclusive workplace cultures.
Carers often work fewer hours than they may want to, with under-employment, unfortunately, much more common among unpaid carers than the general population.
I have heard from carers time and time again about the frustration of unpredictable rostering, and how that prevents carers from taking on employment.
Something as simple as a predictable roster is an easy change for employers to make which could have significant benefits for carers.
These supports of course do not only benefit the staff. The research is clear. Carers bring important skills and experience to the workplace that any employer should find valuable: organisation, resilience, leadership to name a few.
Carer-inclusive practices are leading to employers having an increase in productivity and reduction in turnover rates.
That’s exactly why our Government partnered with Carers Australia to develop the Carer Inclusive Workplace Initiative – which we launched last year. And also to promote the Initiative through this partnership with them and Women’s Agenda.
The Initiative helps employers develop and adopt practices that support employees with caring responsibilities, making their workplaces more inclusive for carers.
Employers who participate can be recognised as committed to carer inclusivity and receive a Government-endorsed carer inclusive workplace logo to display at their place of business and in their marketing materials.
And today, a year on from when we launched the Initiative, I am pleased to share an update.
In just 12-months there are:
Over 580 subscribers to the Carers Inclusive Workplace Initiative newsletter; and
A total of 256 businesses registered, with 164 completing self-assessments and 117 businesses receiving a high inclusivity score.
This is a fantastic achievement. Please let others know about this initiative as we look to increase registrations.
The recent webinar by Women’s Agenda on understanding and supporting carers in Australia did a fantastic job at amplifying how we can build better supports policies and practices that can be modelled and implemented daily in the workplace.
It is efforts such as these that are supporting us to shift towards a culture of understanding and meaningful support for carers.
Carer Payments are another way our Government provides a safety net to carers and we provide around $11 billion per year to Carer Payment and Carer Allowance.
Another step we have taken to help support carers to more easily work is changing the participation rules for Carers Payment.
The legislation that I introduced and has now passed the Parliament means that Carer Payment recipients will be able to work 100 hours over a four week period rather than the current 20 hour per week limit from 20 March next year.
The changes I put forward in our last Budget mean Carer Payment recipients will be able to work 100 hours over a four-week period rather than the current 25 hour per week limit.
We know that around 31,000 Carer Payment recipients currently work and may benefit from the ability to work more flexibly as their caring duties fluctuate.
The changes to remove travel, education and volunteering from the participation limit will make a huge difference for many carers who either have to travel long distances to get to work or may travel to different jobs they may be employed in.
All who want to upskill to look at other opportunities through education, or to connect to their community through volunteering.
I met one carer who, while providing unpaid care to someone close to them, also utilised her skills to work as a paid carer.
She told me that excluding the time she travels between jobs would make a huge difference for how much she could actually work before her carer payment was affected.
She also said that a result of these changes, she was planning to take up further study in the new year.
There are also changes to the flexibility surrounding Temporary Cessation of Care days starting 20 March.
As many carers can attest to, these Temporary Cessation of Care days provide great respite and a chance for carers to prioritise their own wellbeing or engage in other activities including paid work. With our changes, carers will be able to use single days rather than the current requirement to take these in week long blocks. This means that carer can take on last minute shift work for a day, without having to use up 7 of their 63 respite days.
Combined, these changes allow greater flexibility for carers to balance their caring duties and employment responsibilities.
As well as providing greater flexibility, the changes will also include a six-month suspension period for recipients who work over the new flexible limit, meaning if their circumstances change they won’t need to reapply to access Carer Payment during that six month period.
Aside from the Carer Inclusive Workplace Initiative and investment and flexibility with the Carer Payment, our Government has listened to what carers have been asking for and delivered a range of other supports.
We provided more than $343 million to extend Carer Gateway for two years, to ensure carers have access to supports, knowing they don’t always seek help when caring for a loved one.
That means more carers will be able to access tailored support packages to support them in their caring role day-to-day.
This includes in-person or phone counselling, to ensure their mental wellbeing is supported. Or potentially emergency respite, to ensure that when they become ill, the person they care for can continue to receive care.
We have also doubled the support for young carers to continue their education with a funding boost of almost $10 million for the Young Carer Bursary Program.
In 2024 more than 2000 young carers received a bursary, reducing the need for them to undertake part-time work while studying and managing caring responsibilities.
These initiatives aim to make life for carers easier where we can, while recognising that the experiences of carers are all different.
But we’re also working with the carer community to chart a vision for a society where all carers are recognised, valued, and empowered.
The Albanese Government is committed to delivering a National Carer Strategy.
The previous Strategy – introduced by the Gillard Government in 2011 – lapsed in 2015 and has not been replaced since.
We’ve been working to develop a new National Carers Strategy since coming to Government and today I am pleased to announce that, during National Carers Week, we have released the draft National Carer Strategy for public consultation.
The new National Carer Strategy is being developed in consultation with carers across Australia to ensure it reflects their diversity and the diversity of challenges they face.
Over the last six-months to put together the draft, we have held over 70 consultation activities across Australia held in-person, online and over the phone.
Public consultations and engagements have been held across all states and territories in metropolitan, regional, and remote locations, as well as online, and through a public submission process.
During consultation to inform the draft strategy we heard clearly that:
There are low levels of community awareness about carers, and what caring is which contributes to a lack of self-identification of people in caring roles, and a lack of identification in the community.
A Lack of self-recognition as a carer leads to people either not accessing support or accessing support late, and at a time of crisis.
Carer supports and services can be difficult to access and navigate and may not be effective or fit for purpose.
The caring role impacts carers’ health, safety, financial security and wellbeing.
The draft Strategy outlines a vision of “an Australian community in which all carers are recognised, valued and empowered with the support they need to participate fully in society and fulfil their caring role”.
There are five principles in the draft Strategy which will guide how carer-related policies will be delivered, and a roadmap for supporting carers long into the future.
It will be a framework for coordination of carer policy across Commonwealth portfolios including health and aged care, disability, veterans’ affairs and mental health.
So much has changed since 2015 when the last Strategy lapsed.
The National Disability Insurance Scheme is being rolled out. Australia’s Disability Strategy 2021-31 was released. Reforms to aged care have been rolled out following the Aged Care Royal Commission and the Disability Royal Commission has concluded.
The people carers care for often interact with these systems and unpaid carers play a role in navigating them. Carers have told us that they often feel invisible when trying to navigate these systems and the Carer Strategy seeks to elevate their role.
A new National Carer Strategy is important to reflect the new world carers operate in.
But it’s also important to ensure the voices of carers are elevated. That we have their experiences and input into policy development that impacts them.
Thank you to those of you here today who have provided invaluable contributions to the Strategy.
The public consultations carried out over this year have informed the draft strategy, developed with the National Carer Strategy Advisory Committee.
Now we want everyone to play a role in refining the Strategy. We want to hear from carers, the people they care for, and organisations in the sector about the draft strategy.
Consultation will be open from today through to 3 November. So if you haven’t provided feedback already or if you have and you want to provide some more – please do so.
I look forward to sharing the Strategy with you all when it is finalised, and seeing the positive changes it will inspire.
As we celebrate National Carers Week, the Albanese Labor Government’s commitment to supporting unpaid carers is stronger than ever.
Together, with the involvement of employers, advocates, and all levels of government, we can create a society where every carer feels valued, supported, and empowered to continue their important work.
Thank you for your dedication, your passion, and your commitment to making a difference.
Let us continue to work together to ensure that no carer is left behind.
Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)
PHOENIX, Ariz. – Raymond Anthony Rabago Montoya, 23, of Phoenix, was sentenced on October 2, 2024, by United States District Judge Dominic W. Lanza to 12 months and one day in prison, followed by three years of supervised release. He also was ordered to pay $3,000 to the Cooperative Endangered Species Conservation Fund. His co-defendant and mother, Griselda Guadalupe Montoya-Gastelum, 50, of Sonora, Mexico, was previously sentenced by Judge Lanza on July 8, 2024, to 18 months in prison, followed by three years of supervised release. Montoya-Gastelum pleaded guilty to Conspiracy to Violate the Lacey Act on April 25, 2024, and Rabago Montoya pleaded guilty to the same offense on April 26, 2024.
Defendants coordinated the illegal importation of exotic and protected wildlife from Mexico, including tigers, panthers, monkeys, and exotic parrots, into the United States, concealed through ports of entry, for financial gain. U.S. Fish and Wildlife Service began investigating the defendants in August 2022 after receiving a report from a person who believed that the four exotic parrots they had purchased from Rabago Montoya had been illegally imported. This report and further investigation led to the January 2023 execution of a search warrant at the home of Carlos Castro, where a tiger cub, an alligator, 12 snapping turtles, 6 tortoises, and boxes of other reptiles were found. Snapchat messages revealed that Montoya-Gastelum and Castro discussed illegal exotic animal sales and trades. Castro was subsequently convicted of Unlawful Sale of Wildlife in the Arizona Superior Court, Maricopa County.
After federal agents observed advertisements for the sale of spider monkeys on Facebook, they conducted two undercover purchases of monkeys from the defendants for $6,000 each, one in April and one in May 2023. In June and August 2023, Rabago Montoya was encountered by law enforcement with dozens of endangered parrots concealed in his vehicle, many of which were deceased. Defendants were indicted on September 12, 2023, and arrested the following day.
“Once again we see Arizonans profiting from the concealment of contraband through the Nogales and Lukeville Ports of Entry,” said United States Attorney Gary Restaino. “Here, in lieu of controlled substances we have mistreated protected animals: and the sentences imposed send strong messages both of deterrence and of the importance of robust environmental protections.”
“Wildlife trafficking is illegal and immoral, as countless animals that are taken from the wild are smuggled across borders in inhumane conditions,” said Edward Grace, Assistant Director of the U.S. Fish and Wildlife Service Office of Law Enforcement. “In the case of spider monkeys, many trafficked animals perish due to inadequate care, while those that survive face a life of captivity. We hope this case emphasizes that the U.S. Fish and Wildlife Service and our partners will continue to ensure that those engaged in wildlife trafficking are brought to justice.”
U.S. Fish and Wildlife Service, Homeland Security Investigations, Bureau of Alcohol, Tobacco, Firearms and Explosives, Customs and Border Protection’s U.S. Border Patrol, and the Pinal County Sheriff’s Office conducted the investigation in this case. Assistant U.S. Attorneys Stuart Zander and Lisa Jennis, District of Arizona, Phoenix, handled the prosecution.
CASE NUMBER: CR-23-01305-PHX-DWL RELEASE NUMBER: 2024-138_Montoya et al.
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For more information on the U.S. Attorney’s Office, District of Arizona, visit http://www.justice.gov/usao/az/ Follow the U.S. Attorney’s Office, District of Arizona, on X @USAO_AZfor the latest news.
Headline: Governor Cooper Visits Yancey and Mitchell Counties to Survey Storm Damage as Federal, State, Local and Non-profit Partners Continue Unprecedented Response to Helene
Governor Cooper Visits Yancey and Mitchell Counties to Survey Storm Damage as Federal, State, Local and Non-profit Partners Continue Unprecedented Response to Helene mseets
Today, Governor Roy Cooper traveled to Pensacola and Bakersville where he was joined by FEMA Administrator Deanne Criswell, NCDPS Secretary Eddie Buffaloe and Commander of the State Highway Patrol Colonel Freddie Johnson to assess storm damage, witness relief operations and speak with those affected by Helene. In Pensacola, the Governor visited a supply distribution center operating at the Pensacola Volunteer Fire Department. In Bakersville, the Governor joined Mayor Charles Vines for a walking tour to see areas that sustained damage during the storm.
“Today I was on the ground in Pensacola, Yancey County and Bakersville, Mitchell County, talking with folks affected by Helene and seeing how hard people are working to rebuild from this storm,” said Governor Cooper. “The people of Western North Carolina are strong, and we will keep working with them to surge resources and to recover and rebuild their communities.”
The Major Disaster Declaration requested by Governor Cooper and granted by President Biden now includes the following North Carolina counties and designations which were added Tuesday night:
Cabarrus, Cherokee, Forsyth, Graham, Iredell, Lee, Nash, Rowan, Stanly, Surry, Union, and Yadkin counties for Individual Assistance,
Cabarrus, Cherokee, Forsyth, Graham, Iredell, Lee, Nash, Rowan, Stanly, Surry, Union and Yadkin counties for debris removal and emergency protective measures, including direct Federal assistance, under the Public Assistance program.
Swain County for permanent work (already designated for Individual Assistance and assistance for debris removal and emergency protective measures, including direct Federal assistance, under the Public Assistance program.
The Major Disaster Declaration already includes 27 North Carolina counties (Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Clay, Cleveland, Gaston, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mecklenburg, Mitchell, Polk, Rutherford, Swain, Transylvania, Watauga, Wilkes and Yancey) and the Eastern Band of Cherokee Indians.
Also today, Governor Cooper issued an emergency Executive Order authorizing the North Carolina Department of Commerce, Division of Employment Security, to increase the amount of weekly unemployment payments available to North Carolinians in the aftermath of Hurricane Helene. As a result of this Order, weekly unemployment benefits will increase from a maximum of $350 a week to a maximum of $600 a week. Prior to the executive order, many low-income and part-time workers would have received less than the $350 weekly maximum. To ensure that these workers receive necessary benefits in the wake of Helene, the order will also increase benefits by $250 a week (up to the $600 cap) for all eligible workers. This order is tied to the State of Emergency for Hurricane Helene, and will remain in effect until the end of the Emergency or until it is rescinded.
Law enforcement is working to ensure the safety of responders amid reports of threats and misinformation. FEMA officials remain in communities and are conducting operations to help people impacted by these storms recover as quickly as possible following reports of threats on the ground. Governor Cooper has directed the Department of Public Safety to work with local law enforcement to identify specific threats and rumors and coordinate with FEMA and other partners to ensure the safety and security of all involved as this recovery effort continues.
North Carolina National Guard and Military Response
Nearly 3,400 Soldiers and Airmen are working in Western North Carolina. Joint Task Force- North Carolina, the task force led by the North Carolina National Guard is made up of Soldiers and Airmen from 12 different states, two different XVIII Airborne Corps units from Ft. Liberty, a unit from Ft. Campbell’s 101st Airborne Division, and numerous civilian entities are working side-by-side to get the much-needed help to people in Western North Carolina.
National Guard and military personnel are operating 12 aviation assets and approximately 1,200 specialized vehicles in Western North Carolina to facilitate these missions. The U.S. Army Corps of Engineers is helping to assess water and wastewater plants and dams. Residents can track the status of the public water supply in their area through this website.
FEMA Assistance
More than $102 million in FEMA Individual Assistance funds have been paid so far to Western North Carolina disaster survivors and approximately 181,000 people have registered for Individual Assistance. More than 2,000 households are now housed in hotels through FEMA’s Transitional Sheltering Assistance.
Approximately 1,400 FEMA staff are in the state to help with the Western North Carolina relief effort. In addition to search and rescue and providing commodities, they are meeting with disaster survivors in shelters and neighborhoods to provide rapid access to relief resources. They can be identified by their FEMA logo apparel and federal government identification.
North Carolinians can apply for Individual Assistance by calling 1-800-621-3362 from 7am to 11pm daily or by visiting www.disasterassistance.gov, or by downloading the FEMA app. FEMA may be able to help with serious needs, displacement, temporary lodging, basic home repair costs, personal property loss or other disaster-caused needs.
Help from Other States
More than 1,500 responders from 38 state and local agencies have performed 142 missions supporting the response and recovery efforts through the Emergency Management Assistance Compact (EMAC). This includes public health nurses, emergency management teams supporting local governments, veterinarians, teams with search dogs and more.
Beware of Misinformation
North Carolina Emergency Management and local officials are cautioning the public about false Helene reports and misinformation being shared on social media. NCEM has launched a fact versus rumor response webpage to provide factual information in the wake of this storm. FEMA also has a rumor response webpage.
Efforts continue to provide food, water and basic necessities to residents in affected communities, using both ground resources and air drops from the NC National Guard. Food, water and commodity points of distribution are open throughout Western North Carolina. For information on these sites in your community, visit your local emergency management and local government social media and websites or visit ncdps.gov/Helene.
Storm Damage Cleanup
If your home has damages and you need assistance with clean up, please call Crisis Cleanup for access to volunteer organizations that can assist you at 844-965-1386.
Power Outages
Across Western North Carolina, approximately 11,000 customers remain without power, down from a peak of more than 1 million. Overall power outage numbers will fluctuate up and down as power crews temporarily take circuits or substations offline to make repairs and restore additional customers.
Road Closures
Some roads are closed because they are too damaged and dangerous to travel. Other roads still need to be reserved for essential traffic like utility vehicles, construction equipment and supply trucks. However, some parts of the area are open and ready to welcome visitors which is critical for the revival of Western North Carolina’s economy. If you are considering a visit to the area, consult DriveNC.gov for open roads and reach out to the community and businesses you want to visit to see if they are welcoming visitors back yet.
NCDOT currently has approximately 2,000 employees and 900 pieces of equipment working on approximately 7,000 damaged road sites.
Fatalities
Ninety-five storm-related deaths have been confirmed in North Carolina by the Office of Chief Medical Examiner. This number is expected to rise over the coming days. The North Carolina Office of the Chief Medical Examiner will continue to confirm numbers twice daily. If you have an emergency or believe that someone is in danger, please call 911.
Volunteers and Donations
If you would like to donate to the North Carolina Disaster Relief Fund, visit nc.gov/donate. Donations will help to support local nonprofits working on the ground.
For information on volunteer opportunities, please visit nc.gov/volunteernc
Additional Assistance
There is no right or wrong way to feel in response to the trauma of a hurricane. If you have been impacted by the storm and need someone to talk to, call or text the Disaster Distress Helpline at 1-800-985-5990. Help is also available to anyone, anytime in English or Spanish through a call, text or chat to 988. Learn more at 988Lifeline.org.
If you are seeking a representative from the North Carolina Joint Information Center, please email ncempio@ncdps.gov or call 919-825-2599.
For general information, access to resources, or answers to frequently asked questions, please visit ncdps.gov/helene.
If you are seeking information on resources for recovery help for a resident impacted from the storm, please email IArecovery@ncdps.gov.