NewzIntel.com

Category: Economy

  • MIL-OSI Global: UK oil and gas workers risk becoming the ‘coal miners of our generation’

    Source: The Conversation – UK – By Freddie Daley, Research Associate, Centre for Global Political Economy, University of Sussex

    Grangemouth oil refinery is set to close in 2025 with the loss of 400 jobs. orxy / shutterstock

    At the end of September, the UK’s last remaining coal power plant, Ratcliffe-on-Soar in Nottinghamshire, will be retired. The closure of the plant should – and will – be celebrated by environmentalists, as the move away from coal has made Britain’s electricity much cleaner over the past decade. It is on this basis that the UK claims climate leadership.

    In the 1950s, coal provided the overwhelming majority of British energy, and as recently as 2012 it still generated 40%. By 2022, it was less than 2%. In a month’s time, it will be zero.

    Phasing out coal was a brutal and profound process. Organised labour was decimated, entire regions were forced into decline, and communities were left with sustained economic, social and health problems. The towering ghosts of power stations like Ratcliffe-on-Soar will haunt Britain’s ongoing effort to phase out North Sea oil and gas and replace it with clean energy.

    Towering ghosts: Ratcliffe-on-Soar power station.
    The Exposure / shutterstock

    And we are witnessing this haunting in real-time. After the Labour government announced its plans to end new licenses for oil and gas in British waters – necessary to meet the Paris Agreement – workers and trade unions feared history would repeat itself in terms of job losses and blighted communities.

    The general secretary of Unite, Sharon Graham, noted that without a more thorough plan, the policy risked creating “the coal miners of our generation”. A recent motion at the Trades Union Congress (TUC) gathering in Brighton called for no ban on oil and gas licensing before a fully funded jobs guarantee is agreed. The motion narrowly passed.

    Workers and unions are demanding a “just transition” from polluting industries into the clean industries of the future. But to achieve this, the UK government must learn from what happened with coal.

    Many places still rely on oil and gas jobs

    Although oil and gas are not as embedded throughout British life as coal once was, there are many settlements and larger areas still dependent on energy jobs. Grangemouth in central Scotland is a good example. In November 2023, the owner, Petroineos, announced plans to close the town’s oil refinery in 2025, bringing a century of production to an end at the cost of 400 jobs.

    Even if the UK government did issue new oil and gas licences, the North Sea faces structural decline. Production peaked around the turn of the century. Since 2014, as many as 200,000 jobs have been lost either offshore or along the supply chain onshore.

    From gas to wind?

    Planning for the end of fossil fuels is therefore an urgent endeavour. The dominant strategy for protecting skilled jobs is to transition workers into the industries set to replace North Sea production: wind energy and other low-carbon technologies.

    However, though Britain has developed a large wind power sector, it remains a major importer of turbines. Domestic manufacturing makes only a small contribution, and developers are not required to use British-made turbines or other parts, despite the jobs this would create.

    This has left Grangemouth workers discontented. When one of us (Ewan Gibbs) and Riyoko Shibe interviewed young refinery workers at Grangemouth earlier this year, many commented that there were relatively few jobs in renewables. When jobs were visible on LinkedIn and comparable job sites, one told us that “you’ll see there’s a big difference in terms and conditions”.

    Wind farms are relatively easy to run once installed, so most jobs are in building them.
    Kevin Shipp / shutterstock

    In its current form, the UK wind industry will find it hard to provide the types of secure ongoing employment that oil and gas historically has. Most jobs are in the construction and maintenance of wind farms, with the latter threatened by automation. Without public investment and a targeted industrial policy, Britain will remain a net importer of wind technology, and the phasing out of North Sea oil and gas will prove costly in job terms.



    Read more:
    Grangemouth job losses are a stark reminder of the cost of a greener industrial future

    More investment needed

    Britain’s lack of state intervention is not the norm. After all, more than half of British wind farms are state-owned, though less than 1% are owned by the UK government. Swedish, Norwegian, French, Irish and German state-owned entities are major players, but the biggest is Denmark’s Ørsted, a former oil company turned renewables giant which is mostly state-owned. In the UK’s most recent offshore wind auction, 70% of the projects were awarded to Ørsted.

    The newly launched Great British Energy could give the state a foothold in the North Sea once more. This publicly owned company plans to focus on domestic manufacturing and will invest in ports and other infrastructures to “unlock strategic bottlenecks”.

    But if such projects are to be meaningfully incorporated into a just transition, they will need to offer continuity and security to oil and gas workers. As one Grangemouth worker put it, referring to his colleagues facing the choice of either remaining unemployed locally or relocating to use their skills:

    They’re moving to the Middle East, they’re moving to the north-east of Scotland. They’re moving offshore, they’re moving to the Shetlands, and therefore it’s not a just transition, in my view, if we’re moving to these jobs.

    Another worker highlighted the risks that Grangemouth could join the coalfields in becoming “stranded” communities:

    We’ve got a community that’s been built round the site, we’ve got skills and we’ve got people that work there, we’ve got the infrastructure there – why should we not have these jobs when the time comes to move to these industries? Why can we not have it at Grangemouth?

    Britain’s push to phase out oil and gas is urgent and necessary, but it cannot follow the same trajectory as Britain’s exit from coal – lessons must be learned. The opportunities presented by the transition away from fossil fuels will only be fully realised if workers are at its centre.

    Freddie Daley receives funding from UKRI for the SUS-POL project at the University of Sussex, which explores fossil fuel phase-outs around the world. Freddie also campaigns on demand reduction with Badvertising.

    Ewan Gibbs received funding from a British Academy Wolfson Fellowship that supported this research (grant number: WF21210099).

    – ref. UK oil and gas workers risk becoming the ‘coal miners of our generation’ – https://theconversation.com/uk-oil-and-gas-workers-risk-becoming-the-coal-miners-of-our-generation-239262

    MIL OSI – Global Reports –

  • MIL-OSI Global: Keir Starmer’s party conference speech – what he said and what it meant

    Source: The Conversation – UK – By Ben O’Loughlin, Professor of International Relations, Royal Holloway University of London

    Prime Minister Keir Starmer was under immense pressure to announce some big policies in his 2024 party conference speech. Those who felt the agenda had been captured by stories of scandal and discontent in Number 10 saw a major new offering as a potential way to distract. But Starmer chose a different path – one that he overtly described as the more difficult one.

    This, for him, is not about policies. Starmer is offering Britain a choice about how it thinks about politics. In his speech, he rejected what he called a politics of “easy answers” offered in the “cowardly fantasy” of populists. He asked the British public to ignore the “whims of Westminster” that see a politician stirring uproar to hide their lack of action.

    Looking back at the last government, he said: “Take Rwanda, a policy they knew from the beginning would never work, was never supposed to work. £700 million of your money, frittered away on something that was never a credible option because politically it was an easier answer.”

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    What is required is for politicians to address difficult challenges directly, not duck them, he said, adding: “If this path were popular or easy we would have walked it already.” The public must therefore be prepared to debate difficult challenges. This is a difficult version of politics.

    Will people like it?

    Easy-answers politics is quick and based on the performance of utter certainty. X is wrong, Y will fix it. If government doesn’t do Y, it is betraying the country. A flight to Rwanda will solve global migration patterns caused by climate, conflict and the way the world economy works. We don’t want to even think about climate, conflict and the way the world economy works. This is how Starmer characterised the Conservative government of the last 14 years.

    Take the rough with the smooth

    Starmer is offering a performance of seriousness and trying to create an expectation he will deliver a serious politics. He called this a “renewal” because Britain has done serious politics before, generations ago, and it is in British people’s blood: “We will turn our collar up and face the storm,” he said. British people will all contribute, all participate in that renewal, because “this is a country with fairness in the water”.

    This entails being open to debate with other citizens who we disagree with, in a spirit of collective endeavour, not self-interest. You want security? Prisons may be built near you, he said. You want cheaper electricity? Then we’ll build pylons overground. You want government to have some control in the immigration process? We’ll make it function properly. But you must accept that in that fair and proper process, some people will be granted asylum. Agree to disagree, but, more fundamentally, agree that disagreement is OK, because we are equal citizens.



    Read more:
    Know your place: what happened to class in British politics – a new podcast series from The Conversation Documentaries

    The British public must be persuaded to trust this government and this renewal project because they understand government not as aloof partying liars. Look to my government, Starmer said, to see politicians in service to the country of Britain and the British “working people”. But for government to show it thinks it is in the service of the public, it struck me that it can’t be accepting free tickets to watch Arsenal.

    Do we have a narrative yet?

    Starmer addressed the question of whether he has a story to tell about the country. Since he came to government, it has felt as though he lacks one. He said Britain’s dilemma is “our story is uncertain. Hope is beaten out of us.”

    Yet the world thinks of Britain as a great nation, he said, of scientific genius, the industry of its working people, and pragmatism about the complexity of global relations. He said this shows Britain was capable of writing “our own story and that of the world”. He called for Britain to do this again.

    For this to happen, citizens need to be able to see a connection through time. It begins with the government saying it is serious and trustworthy. Then, at a certain point in time, the public needs to be able to look back and see the actions that government has taken. Finally, at a later time, citizens decide whether they’ve seen the results of those actions in their lives.

    This is how the story of a nation is built. But it is where enormous patience is needed. And while his narrative was more successful than previous attempts, there was a piece missing from the puzzle. Will building prisons or electricity pylons provide conditions that allow companies to create economic growth?

    This is not a fully coherent story based on a clear plan – at least not one that has been made public. It is more a wager Starmer is calling on Britons to make. Bet now, and wait. And that’s a lot to ask.

    Ben O’Loughlin does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Keir Starmer’s party conference speech – what he said and what it meant – https://theconversation.com/keir-starmers-party-conference-speech-what-he-said-and-what-it-meant-239766

    MIL OSI – Global Reports –

  • MIL-OSI USA: King Cosponsors Bipartisan Legislation to Help Ease the Burden of Student Loans

    US Senate News:

    Source: United States Senator for Maine Angus King
    WASHINGTON, D.C. — U.S. Senator Angus King (I-ME) is cosponsoring bipartisan legislation to help college graduates reduce the burden of student loans through a tax-free employer contribution. The Employer Participation in Repayment Act would permanently extend a provision of the Internal Revenue Code allowing employees to exempt up to $5,250 from tax annually in student loan repayments that employers contribute on their behalf. The original provision was included in the bipartisan CARES Act and later extended through January 2026. Before the expansion of the provision, employers were only allowed to contribute toward continuing educating — not student loan repayments — in a way that is tax-free to the employee. The bill’s original sponsors are Senators Mark Warner (D-VA) and John Thune (R-SD).
    “Student loans are an essential financial tool to help people in Maine and across the nation access and afford higher education,” said Senator King. “However, as we seek to tackle the cost of living in America, if we can cut costs for college graduates, those extra dollars can help them afford apartments, cars or even set aside savings. The bipartisan Employer Participation in Repayment Act is a commonsense step forward to ease the burden of student loan debt, while also creating a valuable recruiting and retention tool for employers. It’s not just smart policy, it’s a win-win for Maine workers and businesses.”
    According to a report from Federal Student Aid, an office of the Department of Education, it is estimated that Americans owe a combined $1.74 trillion dollars in student loan debt. This debt is a significant financial burden that not only influences the way the American workforce saves and spends, but also has a stifling effect on the economy. The Employer Participation in Repayment Act would update an existing federal program so that it works better for employees living with the reality of burdensome student loan debt.
    From day one in the Senate, Senator King has advocated for student loan borrowers, working to ease the heavy debt burden that impacts thousands of Maine people. Earlier this year, he joined his colleagues in urging Education Secretary Miguel Cardona to consider a pause for student loan borrowers who are nearing their final payments during the Department’s transition to additional student loan servicers. In April 2019, Senator King joined Senators Coons and Portman to introduce Domenic’s Law, bipartisan legislation which would allow a parent whose child develops a total and permanent disability to qualify for student loan forgiveness. After an alarming report in 2019 from National Public Radio (NPR) which found that hundreds of thousands of Americans with qualifying disabilities have not received the student loan relief they are entitled to by law, Senator King joined a bipartisan group of Senate colleagues in sending a letter to the U.S. Department of Education urging the Department’s Acting Inspector General, Sandra Bruce, to investigate the federal student loan discharge process for Americans with total and permanent disabilities (TPD).

    MIL OSI USA News –

  • MIL-OSI USA: Kaptur, Mann, Brown, Marshall Lead Bipartisan and Bicameral Legislation Fighting For American Farmers

    Source: United States House of Representatives – Congresswoman Marcy Kaptur (OH-09)

    Washington, DC — Today, Congresswoman Marcy Kaptur (OH-09), Congressman Tracey Mann (KS-01), Senator Sherrod Brown (D-OH), and Senator Roger Marshall, MD (R-KS), introduced the bicameral and bipartisan Farmer First Fuel Incentives Act requiring the Treasury Department to restrict the eligibility of the 45Z Tax Credit to renewable fuels made only from domestically sourced feedstocks and extending the tax credit to make it a full ten-year credit.

    “I joined my colleagues in this important bicameral and bipartisan effort because helping American farmers, producers, and growers goes beyond state and party lines,” said Congresswoman Marcy Kaptur (OH-09), senior member of the House Appropriations Subcommittee on Agriculture.” We must ensure the Clean Fuel Production tax credit is structured in a way that benefits domestic producers and not one that advantages foreign-produced feedstocks from China or Brazil. Our legislation will extend this credit through 2034 and bolster American energy independence by prioritizing American producers and the production of domestic biofuels.”

     “In no world should American tax incentives first benefit foreign producers,” said Congressman Tracey Mann (KS-01). “While the use of foreign feedstocks can play an important role in producing domestically manufactured ethanol, biodiesel, renewable diesel, and sustainable aviation fuel, we must not displace harvest in America. Our legislation puts American farmers first by ensuring that American tax credits are incentivizing American-grown products.”

    “American tax dollars should support American farmers – not imported feedstocks. To continue to grow the biofuels industry and open new markets for Ohio farmers, we must stop taxpayer money from subsidizing a surge in Chinese cooking oil or any other foreign feedstock from infiltrating the American market. Our bipartisan bill ensures these investments benefit Ohio farmers and Ohio energy producers,” Said Senator Sherrod Brown (D-OH).

    “It’s very tough in farm country with high interest rates and low commodity prices, which is exactly why we can’t have a tax policy that will lower commodity prices even more. While we support free trade and open markets, we do not believe foreign feedstocks should be incentivized through the hard-earned dollars of US taxpayers to the detriment of American farmers,” said Senator Roger Marshall, MD (R-KS). “This legislation puts farmers FIRST to ensure they are the primary beneficiaries of renewable fuel tax incentives and provides businesses a decade of certainty.”

    “The federal clean fuel production tax credit is meant to foster a domestic market for cleaner burning fuels that promote American jobs and energy independence,” said Rusty Goebel, President, Ohio Soybean Association. “Foreign imported feedstocks shouldn’t benefit from American taxpayer investments in this industry. Ohio Soybean farmers support Congresswoman Kaptur’s efforts to ensure Ohio-grown feedstocks aren’t undercut by foreign suppliers.”  

    “NOPA commends this bipartisan, bicameral legislative effort which puts U.S fuel producers, US crushers and US farmers first. We thank Senators Brown and Marshall and Representatives Mann and Kaptur for their leadership,” said NOPA President and CEO Kailee Tkacz Buller. “We support free trade and open markets but do not believe foreign feedstocks should benefit on the backs of U.S. taxpayers to the detriment of US farmers. Without this fix, the 45Z credit will incentivize the use of foreign feedstocks over those grown by US farmers. Our industry has made significant investments to expand US crush capacity by 30 percent and this fix is pivotal to ensuring these investments are delivered.”

    “Corn growers are making every effort to help the airline industry lower its greenhouse gas emissions through the use of corn ethanol,” said Minnesota farmer and NCGA president Harold Wolle. “We are deeply appreciative of these leaders for introducing legislation that establishes requirements for the tax credit that will level the playing field for America’s corn growers.”

    “Biofuel production paves a key path for our country to be a clean energy leader, and US farmers who grow the crops going into those biofuels take pride in helping reduce greenhouse gas emissions while supporting the US economy and energy independence,” said ASA President Josh Gackle, a North Dakota soybean farmer. “However, for continued growth of America’s promising biofuels industry, US farmers need the support of a final 45Z rule that prioritizes domestically sourced feedstock.”

    “The Farmer First Fuel Incentive Act recognizes the vital role of American agriculture in 45Z. This legislation ensures that the guidance is designed and implemented in a farmer-focused manner, supporting domestic clean energy production and stimulating economic growth across rural America,” said Craig Meeker, Chairman of National Sorghum Producers.

    “This important bill sends a strong signal that extending the 45Z credit is going to be a top, bipartisan priority in this Congress and the next,” said Growth Energy CEO Emily Skor. “We applaud all our rural champions for working to give biofuel producers and our farm partners the long-term certainty we need to accelerate innovation in America’s bioeconomy. With a longer runway from Congress, and clear, flexible, and timely guidance from the US Department of the Treasury, we’ll have the pieces in place to unlock billions of dollars in new clean energy investments across rural America,” Emily Skor, CEO of Growth Energy, said.

    The 10-year credit will give the ethanol industry the time and financial incentive to build up the infrastructure needed for the US to be less reliant on foreign fuel, open new markets for farmers, and increase ethanol production across the Midwest. However, we recently learned that 45Z has a glaring flaw that needs to be fixed for farmers wanting to sell feedstocks to the biodiesel and renewable diesel industry. If 45Z goes into effect as is, taxpayers will be massively subsidizing Chinese used cooking oil and would all but eliminate the use of homegrown soy or corn oil in renewable diesel.

    House cosponsors include: Representatives Don Bacon (NE-02)  Nikki Budzinski (IL-13), and Representatives James Comer (KY-01).

    Senate cosponsors include: Senators Tammy Baldwin (D-WI), Deb Fischer (R-NE), Amy Klobuchar (D-MN), and Pete Ricketts (R-NE), Tina Smith (D-MN). 

    The Farmer First Fuel Incentives Act is supported by Growth Energy, National Oilseed Processors Association, National Corn Growers Association, American Soybean Association, Ohio Corn and Wheat Growers Association, Ohio Soybean Association, Kansas Corn Growers Association, Kansas Soybean Association, Kentucky Soybean Association, Scoular, and Louis Dreyfus Company. 

    Background:

    Prior to introducing this legislation, Congresswoman Kaptur joined Senators Brown and Marshall in a July bipartisan letter they led calling for the US Treasury Department to restrict the eligibility of the 45Z Tax Credit to renewable fuels made only from domestically-sourced feedstocks, like Kansas soybean oil and corn oil. You may click here to read Senator Brown and Marshall’s full letter. Representatives Kaptur and Mann led 39 House colleagues in a subsequent letter September. A similar letter calling for 45z to be restricted to domestic feedstocks was sent by the American Farm Bureau Federation, American Soybean Association, National Corn Growers Association, and National Farmers Union to Treasury Secretary Janet Yellen and US Office of Management and Budget Director Shalanda Young. 

    # # #

    MIL OSI USA News –

  • MIL-OSI Video: SDIM24 – Putting COPs’ Pledges into Practice

    Source: World Economic Forum (video statements)

    Global decision makers will convene at three COPs on the Biodiversity, Climate and Desertification agendas this year. As the planet risks maintaining a pathway to 3C of warming, with intensifying land degradation and a million animal and plant species at risk of extinction, a coordinated approach is fundamental to maintain momentum on the net-zero, nature-positive transition. How can actors from the public and private sector move beyond current geoeconomic tensions and take the necessary actions to curb carbon emissions and halt biodiversity loss while ensuring a more inclusive economy?

    This session was recorded at the Sustainable Development Impact Meetings 24 September. Watch the video stream here: https://www.weforum.org/events/sustainable-development-impact-meetings-2024/sessions/putting-cops-pledges-into-practice/
    Speakers:

    Mirek Dušek, Managing Director, World Economic Forum

    Sumant Sinha, Chairman and Chief Executive Officer, ReNew

    Jesper Brodin, Chief Executive Officer, Ingka Group (IKEA)

    Ibrahim Thiaw, Undersecretary-General of the United Nations; Executive Secretary, United Nations Convention to Combat Desertification (UNCCD)

    Maria Susana Muhamad, Minister of Environment and Sustainable Development, Ministry of the Environment and Sustainable Development of Colombia

    Bill Weir, Anchor and Chief Climate Correspondent, CNN
    Links:

    Alliance of CEO Climate Leaders: https://initiatives.weforum.org/alliance-of-ceo-climate-leaders/home

    https://www.youtube.com/watch?v=mofHh8ier30

    MIL OSI Video –

  • MIL-OSI United Nations: Secretary-General’s remarks at the Sustainable Development Goals (SDGs) Moment Event [bilingual, as delivered; scroll down for all-English and all-French]

    Source: United Nations secretary general

    Excellencies, dear friends,  

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.

    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.  

    Gardons les Objectifs de développement durable en vie.

    Je vous remercie.

    ***
    [all-English]

    Excellencies, dear friends,

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.
       
    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    And the third development driver is peace.

    All our development plans are quickly erased by relentless conflicts that cause death, destruction, hunger, displacement and gender-based violence.

    And the resources we desperately need to feed and educate our children and build a sustainable planet for our young people are wasted on military expenditures.

    We need peace — from Gaza to Ukraine to Sudan and beyond.

    I call on global leaders to heal divisions, end conflicts, and invest in people and peace.

    Dear friends,

    In our world of unprecedented wealth, knowledge and technologies, there is no excuse.

    It’s time to keep the promises of the 2030 Agenda for Sustainable Development to end poverty, protect the planet, and leave no one behind.  

    Let’s keep the SDG commitment alive.

    Thank you.

    ***
    [all-French]

    Excellences, Chers amis,

    Les objectifs de développement durable incarnent une vision audacieuse. Ils constituent un engagement en faveur d’un avenir meilleur, plus sain, plus sûr, plus prospère et plus durable.

    Mais les vents contraires sont nombreux.

    Nous sommes mal partis pour atteindre plus de quatre sur cinq de toutes les cibles associées aux objectifs de développement durable.

    Outre les conséquences d’une pandémie mondiale auxquelles ils doivent faire face, de nombreux pays sont écrasés par un endettement massif, des liquidités limitées et des coûts d’emprunt très élevés.

    Les conflits, la faim, les inégalités et la crise climatique s’intensifient.

    En outre, l’architecture financière mondiale ne permet pas aux pays en développement de pouvoir compter sur suffisamment de financements et de liquidités et ne leur offre pas un filet de sécurité efficace pour tous.

    Le monde a pourtant les richesses, les technologies et le savoir-faire qu’il faut pour atteindre les objectifs de développement durable.

    Au mois de septembre dernier, le Sommet sur les objectifs de développement durable a permis de dégager un consensus autour d’un plan de relance des objectifs de développement durable, prévoyant des financements d’au moins 500 milliards de dollars par an pour les pays en développement – et de s’accorder sur le fait qu’il est nécessaire de réformer l’architecture financière mondiale.

    L’accent a été mis sur les transitions clés qui permettront d’accomplir un maximum de progrès dans toute une série de domaines : élimination de la faim, développement des énergies renouvelables, numérisation, éducation, protection sociale et travail décent, ainsi que de mettre fin à la triple crise planétaire, à savoir les changements climatiques, la pollution et l’appauvrissement de la biodiversité.

    Il a également été souligné qu’il était crucial de veiller à ce que les femmes, les filles et les jeunes aient leur place à la table des décisions.

    Aujourd’hui, vous entendrez des dirigeants et dirigeantes parler des progrès réalisés par leur pays dans tous ces domaines. Ils sont déterminés à faire bouger les lignes, en dépit des difficultés énormes auxquelles ils heurtent.

    Et nous célébrerons des réussites phares à l’échelle planétaire : depuis la réduction des taux de mortalité infantile jusqu’à l’amélioration de la prévention des nouvelles infections par le VIH, en passant par l’élargissement de l’accès aux énergies renouvelables et de l’accès au haut débit et par l’amélioration de la parité entre les femmes et les hommes dans les systèmes éducatifs.

    Alors que nous réfléchissons aux prochaines étapes, je vous invite à vous concentrer sur les trois moteurs du développement qui pourraient permettre d’accélérer le rythme des progrès.

    Tout d’abord, les financements.

    Dans de nombreux pays en développement, les investissements dans les domaines de la santé, de l’éducation et de l’alimentation sont exsangues à cause du niveau écrasant de la dette et de l’inefficacité des systèmes fiscaux.

    Dans le Pacte pour l’avenir, il est prévu d’appuyer le plan de relance des objectifs de développement durable et la réforme de l’architecture financière mondiale afin d’atténuer la crise de la dette que traversent de trop nombreux pays en développement.

    Il s’agit notamment de multiplier la capacité de prêt des banques multilatérales de développement afin de dégager davantage de ressources pour l’action climatique et le développement durable, et de modifier leur modèle de fonctionnement afin de mobiliser en masse des financements privés.

    Les Sommets sur le développement social et le financement auront lieu l’an prochain, et j’invite tous les pays à redoubler d’efforts pour faire avancer la réforme dans cette perspective.

    Le deuxième moteur du développement, c’est l’action climatique.

    J’invite les pays à adopter des plans d’action nationaux pour le climat qui soient ambitieux, en ne dépassant pas la limite des 1,5 degré, et en couvrant l’ensemble de l’économie et tous les secteurs.

    Il faudra pour cela aligner les stratégies énergétiques nationales sur l’objectif d’une élévation de la température mondiale ne dépassant pas les 1,5 degré, mettre fin aux subventions aux combustibles fossiles et fixer un prix pour le carbone.

    L’heure est venue d’éliminer progressivement mais rapidement les combustibles fossiles, au terme d’une transition équitable, et d’augmenter rapidement, avec discernement, les énergies renouvelables pour favoriser le développement durable, la sécurité énergétique et la prospérité économique.

    Nous devons répondre d’une manière juste et durable à la demande mondiale en minéraux essentiels, qui ont le potentiel de porter la révolution des énergies renouvelables. Et le Groupe chargé de la question des minéraux essentiels à la transition énergétique a formulé des recommandations à cette fin.

    Il est également essentiel de protéger les acquis du développement face aux bouleversements climatiques.

    Il faut par ailleurs que de nouvelles et généreuses contributions soient versées au Fonds pour les pertes et les préjudices.

    Les pays développés doivent honorer l’engagement qu’ils ont pris de doubler le financement de l’adaptation d’ici à 2025.

    Et il faut que les gouvernements se mettent d’accord sur un nouvel objectif ambitieux en ce qui concerne le financement de l’action climatique lors de la vingt-neuvième session de la Conférence des Parties à la Convention-cadre des Nations Unies sur les changements climatiques, y compris au sujet des sources de financement nouvelles ou novatrices.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.

    Gardons les objectifs de développement durable en vie.

    Je vous remercie.
    ***

    MIL OSI United Nations News –

  • MIL-OSI Asia-Pac: Keynote speech by SJ at networking dinner of forum titled Hong Kong: The Common Law Gateway for Vietnamese Businesses to China and Beyond in Ho Chi Minh City, Vietnam (English only) (with photos)

    Source: Hong Kong Government special administrative region

         Following is the keynote speech by the Secretary for Justice, Mr Paul Lam, SC, at the networking dinner of the forum titled Hong Kong: The Common Law Gateway for Vietnamese Businesses to China and Beyond in Ho Chi Minh City, Vietnam, on September 24:
     
    Ladies and gentlemen,
     
         Good evening, xin chào buổi tối. Frankly speaking, I do not think I can do a better job than all the eminent speakers who have spoken before me. So I am not going to say something new. Instead, I wish to do a very quick recap to sum up the key and essential points made by various speakers so that you can have a few takeaways after today’s event.

         I prefer to do it by once again referring to the theme of our forum, “The Common Law Gateway for Vietnamese Businesses to China and Beyond”, but I wish to focus on a few key phrases and do it in the reverse order. So I would like to focus on China and beyond first.

         We are lawyers coming from Hong Kong. As I said in my opening remarks, obviously there have been very close relationships between Hong Kong and Vietnam. But the reason why we are here is not simply because of Hong Kong, it is about something much bigger than Hong Kong. That is our country, China, and beyond.

         A number of speakers have referred to a very important concept known as the Guangdong-Hong Kong-Macao Greater Bay Area. And I wish to emphasise again the importance of the Greater Bay Area. You have been told that the Greater Bay Area consists of the Guangdong Province, in particular the nine cities in Guangdong Province, plus Hong Kong and Macao. To give you some ideas, the size of Greater Bay Area is almost like Croatia, a mid-size European country, with population around 86 million, similar to the population of Germany. If you look at what cities are situated within the Greater Bay Area, we have three very important cities: Guangzhou, of course, which is the capital of the province of Guangdong, a very important city in the southern part of China. And then you have Shenzhen, I think some of our speakers have mentioned Shenzhen, which is the innovation and high-tech hub, where you have the headquarters of Tencent, the factories of BYD and Huawei. All the advanced technology or high-tech innovative things are happening in Shenzhen, which is just across the border. And then of course you have Hong Kong, which is the international financial and trade centre.

         Although there are different bay areas in the world, we have the Tokyo Bay area, the San Francisco Bay Area, but I venture to say that they cannot be compared to Hong Kong because in the Greater Bay Area, you have one country but three different jurisdictions, including Mainland China, Hong Kong, and also Macao which used to be ruled by the Portuguese. So it is a very special place with huge potential. Hong Kong may well be your final destination for your business and business venture. But it also may not be your final destination. Maybe you will find much more opportunities in the Greater Bay Area in China. And then in China, very often there would be investments and other business ventures with other countries. So it is really “China and beyond”.

         Now moving to “Gateway”. I just mentioned that perhaps you will be more interested not just about opportunities for business investment in Hong Kong, but also those offered in Mainland China. And of course you would agree with me that legal service would be important. But you may wonder, if I wish to invest in Mainland China or co-operate with a Mainland partner, why shouldn’t I simply instruct a Mainland lawyer? Why shouldn’t I simply engage the legal service offered by Mainland China? And why should I do it via Hong Kong, which seems to be a little bit indirect or a bit convoluted. And of course, all the speakers who have spoken this afternoon have provided some very good answers. One of the key characteristics of this particular gateway, or using Hong Kong as a gateway, is our common law character, our common law tradition. But again, as pointed out by one of the participants who raised a question at the end of the first session, Hong Kong is definitely not the only common law jurisdiction in this world which can play the role as a gateway for the provision of legal service. I think my friend mentioned Singapore. Why not Singapore? Singapore is definitely a common law jurisdiction. Even in ASEAN, within the Southeast Asia, we have Malaysia which is also a common law jurisdiction. So it is our duty to explain to you a little further.

         What is so special about Hong Kong? I hate to compare Hong Kong with Singapore, but because this question has been raised, I think I have to answer that question as if I were being asked to answer that question by a judge in the court. So I have to give a direct answer. But as a government official, I have to be as diplomatic as possible. The way I put it is that we can and we will offer something that only Hong Kong can offer. We can offer something that Singapore will not be able to do. It is because of six factors, as the sum total of these six factors that make Hong Kong truly unique and peculiar, unparalleled. So what are these six factors? Now, here comes my summary of what you have heard this afternoon.

         First, Hong Kong provides a very stable legal environment. Stable in the sense that Hong Kong is the only common law jurisdiction within China. It is the only common law jurisdiction in China, and it will remain to be the only common law jurisdiction within China. The reason is that the common law system practiced in Hong Kong has been guaranteed by a constitutional document, which is our Basic Law. You can describe it as a mini-constitution. Now, there have been some queries in the past on certain wordings in our constitutional document. Some people questioned whether the principle of “one country, two systems” or the common law system practiced in Hong Kong will continue after 2047, which is the 50th anniversary of the resumption of sovereignty by China of Hong Kong. But that uncertainty has been removed very clearly by the leaders of China, in particular President Xi Jinping. Back in 2022, on July 1 when he came to Hong Kong, he made a very important speech, a very short speech. What is most telling is that in his very short speech, he mentioned the common law system in Hong Kong twice. He said that the common law system is a core element of the “one country, two systems” principle, which is a very good policy that is going to last basically forever. So there should be no doubt whatsoever that not only the principle of “one country, two systems”, but also our common law system will continue. So the first point “stability” – it is very stable.

         The second point is that our system is also very reliable. Now, that goes to the question of the existence of a very reputable and respected judiciary. When it comes to a judicial or legal system, two factors will be of crucial importance. First, quality, quality of justice, whether judges are smart enough to deliver true justice. Second, integrity, whether judges are seen to be able to discharge their duty fairly and impartially. Now, I think the Judiciary in Hong Kong fulfills these two very important essential criteria.

         In terms of quality, as my friends said this afternoon, all the judges, they enjoy very high standing in the world. Our Court of Final Appeal, I should mention that the judgments delivered by the judges of the Court of Final Appeal, they were cited in other common jurisdictions from time to time. And we have foreign judges sitting as part-time judges in Hong Kong. I also remember that one of the speakers mentioned the World Justice Project Rule of Law Index, Hong Kong ranked the 23rd out of 142 jurisdictions in the world. And I think we ranked the sixth in East Asia and the Pacific region. Ahead of the United States, and if I recall correctly, Spain, another major economy in the world.

         When it comes to integrity, once again my friends have informed you that how judges in Hong Kong are appointed. They are appointed completely independently by an independent statutory body. It is not possible for the executive to interfere with the performance of the judges. It is not possible for the executive to fire or sack any judges. And in fact, I have to tell you a very embarrassing piece of information which nobody dares mention, that is the Government lost cases before the court quite often. So I think that is a very good indication that judges in Hong Kong do exercise the judicial function very impartially.

         But for your interest, I am sure you would be concerned whether Mainland parties, in particular state-owned enterprises, or very important, powerful business entities in Mainland China, would they enjoy any undue advantage when they engage in litigation against foreign parties in Hong Kong? Once again I am very sure that if you look at records, if you look at judgments, we have open judgments, you will see many cases which are decided entirely on merits. Sometimes state-owned enterprises or Mainland parties win, sometimes they lose. But there is not a single piece of evidence suggesting that in deciding these cases, the court in Hong Kong has taken into account any consideration other than the law and the evidence. And the best evidence is contained in our judgments, which you can inspect and you can read for yourself. So this is the second factor: very reliable.

         Third factor: very business friendly. You have to remember that we have a bilingual legal system. So both English and Chinese are official languages. It is not just a working language, it is the official language by which we write our statute. We also use English in court proceedings, and very often in arbitration proceedings. This is an international language that is familiar to people outside Hong Kong, just like I am using English to communicate with you, hoping that you would be able to understand what I am trying to say.

         The second point as to why business friendly is about the content of the law, the content of our substantive law, in particular when it comes to international commercial law, investment law. They are all very international in the sense that its content is substantially similar to the law that you find in other developed countries, for example, the United Kingdom, Australia, and New Zealand. So the principles of substantive law would be very familiar to the international business community, so it is business friendly.

         The third point is that the Hong Kong Government has been very proactive to make Hong Kong a more attractive place for investment and doing business. I can give you some examples. For example, we are very active in promoting the establishment of family office in Hong Kong to encourage people to invest money to set up family office, in particular, for very resourceful families. In order to make this initiative attractive, we have amended our revenue law, our tax law, to lower our tax rate if you wish to set up family offices in Hong Kong. Another example is that our listing rules, IPO initial public offerings, if you wish to raise finance by getting your company publicly listed, the Hong Kong Stock Exchange has introduced a new scheme, it’s called SPAC (Special Purpose Acquisition Companies). The idea is very simple. It enables a company without any track record but so long as it fulfills some sorts of requirement to ensure that the investors’ interest will be protected, it will get the chance to be listed in Hong Kong. So I mean we are very proactive in making it more convenient. One of the speakers have mentioned about the difficulty of entering into Hong Kong because of the visa requirement. But as I said in my welcoming remarks, we are relaxing the restrictions or the requirement gradually. So starting from October last year, for the talents, they will be able to come to Hong Kong very easily. And for business travellers and for tourists, you will be able to obtain multiple visas very conveniently. And lastly, when it comes to arbitration, we have actually introduced a pilot scheme. At the moment, the arrangement is that if you are engaged and involved in the arbitration, no matter in what capacity, say, as arbitrator, as counsel, appearing for either party as a witness or even a party, you will be exempted from the need to obtain any visa if you come to Hong Kong for such purposes. So I would say that the difficulty is more apparent than real. So that is the third factor, business friendly.

         The fourth factor: it is very safe and secure to use Hong Kong as a platform for doing business and investment. You must be concerned whether your money, your property can go into Hong Kong and leave Hong Kong easily and freely, and what happens when your property and money is in Hong Kong. Under our constitutional document Basic Law, we guarantee freedom of movement of funds, money and goods. So you can come anytime and your money can leave anytime. There is no exchange control, there is no improper expropriation, and when your money and your property is in Hong Kong, it is completely safeguarded by a stringent set of regulations, not just by statutes, but by other important statutory bodies like the Hong Kong Monetary Authority, the Securities and Futures Commission. There are very strict regulations to ensure that your investment and your property will be protected. And of course, the quality and integrity of the law enforcement agencies will be important. One strength of Hong Kong is that there is no question, no issue or any concern about corruption at all. Hong Kong is the cleanest place, one of the cleanest places in the world that you can find. If you look at the figures, I think Hong Kong ranks among the top five when it comes to the absence of corruption.

         I wish to share a piece of information just to substantiate my confidence in the integrity of the financial market. A piece of latest news is that a British think tank just announced the Global Financial Centres Index. And Hong Kong had climbed back to the third place after New York and London. And this time we are ahead of Singapore. In 2022 up to last year, Hong Kong ranked the fourth for different reasons, but this year we managed to overtake Singapore to reclaim the third place, which I think is a very pertinent place. It served as a very good evidence of the competence of the people in Hong Kong’s financial market. So this is the fourth factor.

         The fifth factor is that Hong Kong provides dual connectivity. It allows you to connect to the world on the one hand, and also connect to the Mainland at the same time. My friend already said that Hong Kong has important legal connections with the rest of the world, for example, arbitral awards can be enforced and recognised because of the New York Convention. We have entered into a lot of arrangements with other international organisations. Important legal bodies would have their headquarters and offices in Hong Kong. Now this is where Singapore cannot be compared to Hong Kong – we have very special mutual legal assistance arrangements with Mainland China, which is made possible purely because Hong Kong is a part of China, though we practice different legal systems.

         I simply wish to refresh your memory by highlighting one example, which is the arrangement concerning the possibility of granting interim injunction in arbitral proceedings. As business people, it is no use at all to you to spend a lot of money on arbitration if at the end of the day, what you get is a piece of paper. What is the most important is that you will be able to enjoy the fruit in case you succeed in arbitration. That means pending the conclusion of the arbitration proceedings, you need to have sufficient safeguard to ensure that the asset at stake will be protected. In addition, sometimes it would require the preservation of evidence to ensure that the merit of case can be fully reflected in the course of the proceedings. The special arrangement is that if you start arbitral proceedings in Hong Kong by using one of the designated arbitration institutions, then the Mainland court will be very willing to provide you with the assistance by giving you the interim injunction, which is very useful. I don’t remember the figure, but the success rate is over 90 per cent. So this is the connectivity factor.

         The last factor which is most important, and is evident by the quality of the speakers who have spoken before me, that is Hong Kong has an abundant supply of truly international legal talent. If you are using our legal service, if you instruct a Hong Kong lawyer, you are not simply enjoying Hong Kong legal service. You are engaging a global counsel. You are engaging and instructing a truly international lawyer. And again, I wish to repeat or perhaps add some figures to substantiate my point. You were told that we have a divided legal profession consisting of barristers and solicitors. I give you the numbers again. I would stand to be corrected. At the moment, I think there are around 1 600 barristers in Hong Kong, and among them 108 are Senior Counsel. We have three Senior Counsel here with us today. So in a small group of 15 persons, we already have three Senior Counsel – Queenie Lau, SC, Derek Chan, SC, and myself. And when it comes to solicitors, the figures are even more impressive. I think we have more than 13 000 solicitors in Hong Kong. And the important thing is that, look at the number of law firms, we have more than 920 law firms. Among these 900 law firms, around 351 have foreign offices. So they are not local law firms, they have presence in other jurisdictions. And I think 80 something have offices in Mainland China. And when we come to registered foreign law firms, there are 77. As for registered foreign lawyers who specialised or qualified in different jurisdictions, I think the number exceeds 1 400. You can tell from the composition, not just the quantity or the number, but the composition, a lot of them are associated one way or the other with law firms in other jurisdictions. Either they have their own presence in other jurisdictions, or they are closely related with some other very close law firms in other jurisdictions. So my point is, when you get the service of a Hong Kong lawyer, you are getting world service. You don’t need to go anywhere. So this is the last factor, which I believe is the most important factor.

         And the other thing is that, as mentioned by some of our friends, when it comes to legal service, it is not just the legal knowledge that matters. At the end of the day, legal service is about resolving people’s problem. You have to understand culture. You have to understand the people. When you are doing business involving a Mainland element, because one of the speakers asked what the criteria of picking arbitrator or mediator are if Mainland element is involved, I think the answer should go beyond the choice of arbitrator and mediator. It goes to the choice of lawyer in general. I think you need to find someone who is not simply good at law but understands human nature and business culture. A good lawyer is somebody who is able to communicate with you, who can explain very technical matters in a way that you can understand, who can understand the whole business environment, who can understand why in a different jurisdiction, why in a different culture, things are done in a certain way, documents are drafted in a particular manner, why certain words are used, what’s the magic, what’s the hidden message. It is important for lawyers to be able to decipher all these subtle points. In Hong Kong, most of us are not just bilingual because we are Chinese, we understand the Chinese culture, we understand how things are done and said, but at the same time, we are trained by the common law tradition. So we are going to be a perfect interpreter, helping you to understand each other, to ensure that nothing will be lost in translation. I think that is a very important point when it comes to the choice of legal service.

         So to sum up, six factors: it’s stable, it’s reliable, it’s business friendly, it’s secure, it provides dual connectivity, it provides abundant supply of truly international legal talent.

         Maybe Singapore enjoys one or two or even five of the factors before, but I’m quite sure that if you do a checklist, Singapore will not be able to have all the ticks in all the six boxes. So it is really the sum total of these six factors which makes Hong Kong so unique.

         The last thing that I would like to say is that I would like you to visualise, to have a sort of mental picture as to what I am saying. I would like to draw an analogy. The legal service of Hong Kong provides is just like a multi-storey building. In one single building, you have a food hall consisting different types of restaurants. We have Michelin three star restaurants, we have restaurants serving Vietnamese food, and we have restaurants serving Chinese food. The point is whatever you need, they will be available, in terms of price or whatever. And the food will be extremely hygienic and the quality will be very high. I think that’s the concept, that’s the main picture that I would like you to have after today’s event. Thank you.      

    MIL OSI Asia Pacific News –

  • MIL-OSI Translation: Canada imposes additional sanctions in response to Hamas terrorist attacks against Israel

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French 1

    The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced that Canada is imposing additional sanctions under the Special Economic Measures (Hamas Terrorist Attacks) Regulations. These sanctions build on Canada’s efforts to combat Hamas and its acts of terrorism, as well as its affiliates and financial networks.

    September 18, 2024 – Ottawa, Ontario – Global Affairs Canada

    The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced that Canada is imposing additional sanctions under the Special Economic Measures (Hamas Terrorist Attacks) Regulations. These sanctions build on Canada’s efforts to combat Hamas and its acts of terrorism, as well as its affiliates and financial networks.

    These sanctions apply to eleven individuals and two entities involved in Hamas’ financial network. These individuals and entities directly or indirectly facilitated, supported, or contributed financially to the planning and execution of the attacks against Israel that began on October 7, 2023.

    The eleven people are as follows:

    Musa Muhammad Salim Dudin Amer Kamal Sharif Alshawa Ahmed Sadu Jahleb Walid Mohammed Mustafa Jadallah Zuhair Shamlakh Alaa Shamlakh Ahmed Shamlakh Imad Shamlakh Nabil Khaled Halil Chouman Khaled Chouman Reda Ali Khamis

    The two entities are as follows:

    Al-Markaziya Li-Siarafa (Al-Markaziya) Nabil Chouman

    Canada unequivocally condemns the brutal terrorist attacks carried out by Hamas and its affiliates on October 7, 2023. These horrific attacks included the killing, maiming and abduction of innocent civilians, including children.

    Today’s sanctions represent a further step in Canada’s response to the ongoing violence in the region. Canada remains deeply concerned about the impact of the conflict on Israeli and Palestinian civilian populations and is committed to promoting peace and security in the Middle East.

    “Canada unequivocally condemns the brutal terrorist attack carried out by Hamas on October 7. The hostages who were abducted that day and who have been held captive by Hamas for over 300 days must be immediately released. By taking these steps today, Canada is taking another step to combat Hamas’ terrorist activities and disrupt its financial networks.”

    – Mélanie Joly, Minister of Foreign Affairs

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Security: The IAEA’s Vital Support of Development and International Security

    Source: International Atomic Energy Agency – IAEA

    (As prepared for delivery)

    President, Secretary-General, Excellencies, Ladies and Gentlemen,

    “The best way to predict the future is to build it.” It is a truth worth remembering, especially when political division, climate change, war, hunger, and disease seem to overshadow our effort.

    We have the tools to deal with these challenges. We have the knowledge, the technology, the financial means, the diplomacy and the robust international institutions.

    The IAEA serves its 180 Member States with the lifesaving and lifeaffirming tools of nuclear science and technology. These contribute directly to the SDGs.

    Health comes first. At the beginning of the COVID-19 pandemic in 2020 we jumped into action, harnessing our equipment and knowledge for quick and reliable testing against COVID with the portable RT-PCR machines, or “labs in a suitcase”.

    We launched what would become the largest emergency operation in the history of IAEA to nearly 130 States. In so doing, we reached tens of millions of people. For some countries these kits were the first, and sometimes the only equipment they had to conduct reliable testing against COVID-19.

    Drawing on this and earlier experiencessupporting the fight against Ebola, avian influenza and Zika, we launched – in that same year – the Zoonotic Disease Integrated Action (ZODIAC). Under ZODIAC we have trained people from more than 95 countries in dealing with zoonotic diseases. Laboratories in developing countries have received equipment for 3 serology and molecular diagnostic or genetic sequencing. Many of these labs are now being used to combat Mpox.

    The IAEA has more than 6 decades of experience in radiotherapy and medical imaging. But today the cancer crisis is hitting low and middleincome countries particularly hard and I am determined to make a greater impact in partnership with our Member States. That is why we launched Rays of Hope: Cancer Care for All at the African Union Summit in February 2022, with firm support from the World Health Organization (WHO). Africa is where the cancer care gap is the starkest: more than 20 African nations lack even a single radiotherapy machine. So far, 86 countries have reached out to the IAEA for support under Rays of Hope and concrete actions have been initiated in more than 30 States.

    Under our new initiative, NUTEC: NUclear TEchnology for Controlling Plastic Pollution, 86 States around the world are participating in marine microplastic monitoring using nuclear and isotopic tracing techniques. This will help them to put in place better-informed policies that combat the plastic pollution threatening the ocean, its plants and creatures and therefore also the communities that rely on them for their livelihoods. Some 39 States are participating in plastic recycling using radiation technology, four of which are progressing towards establishing pilot-scale plants. This will allow them to reduce plastic waste and advance towards a circular economy. The Global Marine Monitoring Network continues to grow with 99 States now benefiting from capacity building efforts.

    Atoms4Food was launched by the IAEA and the Food and Agriculture Organization (FAO) in October 2023. It offers tailor-made approaches in 4 Food and Agriculture, which for years has been the number 1 area of support sought by our Member States. Atoms4Foods supports countries in using innovative nuclear techniques to enhance agricultural productivity, reduce food losses, ensure food safety, improve nutrition, and adapt to the challenges of climate change. This supports farmers as well as the fight against deadly malnutrition.

    There is no development without energy. Nuclear power provides about a quarter of the world’s low-carbon electricity. Much more is needed if we are to meet the climate goals set out on the Paris Agreement. In their historic first Global Stocktake, approved at COP28 in Dubai last year, the signatory countries to the UN Framework Convention on Climate Change called for accelerating the deployment of low-emission energy technologies including nuclear power. The Pact for the Future adopted yesterday, in Action 26 reaffirmed the inalienable right of all countries to develop research, production and use of nuclear energy for peaceful purposes without discrimination, in conformity with their respective obligations.

    Today, in addition to the 415 nuclear power reactors operating in 31 countries there are 62 reactors under construction in 15 countries, most of them in Asia. The IAEA is assisting States, many of them developing countries, either with enlarging their civilian nuclear programs, or with safely embarking on them. We are working with industry and regulators on small modular reactors (SMRs) which will make more affordable the price of entry to the nuclear energy club.

    The IAEA is also playing an important role in maintenance of 5 international peace and security.

    Mandated by the Nuclear Non-Proliferation Treaty (NPT), we conduct nuclear safeguards, making sure the increased amount of nuclear material around the world does not result in the secret proliferation of nuclear weapons. There is material for thousands of nuclear warheads in the world. Thanks to the robust international safeguards regime and our inspection system, who never stopped even during the COVID pandemic, the number of nuclear weapon States around the world is far fewer than had been feared before the IAEA was established and the NPT came into force.

    The IAEA assists States in the creation and implementation of nuclearweapon-free zones, which already cover vast regions of the world. These are important steps towards a world without nuclear weapons.

    Our work in Iran, Syria, other countries of the Middle East, and on different continents, contributes to international stability through nonproliferation and through the peaceful uses of nuclear technology.

    Since February 2022 a large-scale conventional conflict has raged in a country with a large civilian nuclear program. Ukraine used to generate more than half its electricity from nuclear power plants. From the first months of the war, the IAEA has focused on assisting Ukraine in preventing a radiological or nuclear accident, which could have a serious transborder impact. Today, the IAEA has advisory and assistance missions stationed at all five of Ukraine’s nuclear power plants, including Zaporizhzhia, which is located right at the front line. Following months 6 of negotiations and consultations, on 30 May 2023 at the UN Security Council I outlined five concrete principles to help ensure nuclear safety and security at Ukraine’s Zaporizhzhya NPP. It received strong support from the Members of the Council.

    The IAEA continues to monitor the safe discharge of water from the Fukushima Daichi Nuclear Power Station and engages in consultations with neighbouring and coastal countries with strong interest in the process. Our independent analysis and the data we publish relating to the discharge offer facts that dispel misunderstandings and fears about the process.

    Ladies and gentlemen,

    I firmly believe in supporting the ability of everyone, regardless of gender, to fully benefit and contribute to the IAEA’s work.

    Conviction requires action. When I began my tenure as the IAEA’s Director General five years ago, one of my very first actions was to set a goal for gender parity by 2025 and to put in place the policies to achieve a more diverse workforce.

    Five years ago, women represented less than 30% of the Agency. Today, they have surpassed 48%.

    Mindful of the need to continue helping future generations, I also launched the Marie Sklodowska-Curie Fellowship Programme (MSCFP) in 2020. It drives diversity as well as scientific and technological innovation by encouraging women to pursue a career in the nuclear field. Since its launch, hundreds of women from over 120 countries have been awarded fellowships with generous stipends. They have studied in more than 70 7 countries and have also benefited from internships in many areas of the field. Our follow-up program, named after the scientist Lise Meitner, empowers early- and mid-career through career-enhancing opportunities like site visits.

    The IAEA is a key multilateral player to make the Pact of the Future a reality. Thank you.

    MIL Security OSI –

  • MIL-OSI Security: IAEA Profile: Fuelling Success – Gloria Kwong’s Path to Decommissioning and Environmental Remediation

    Source: International Atomic Energy Agency – IAEA

    Gloria Kwong during a panel at the ATOMEXPO International Forum held from 19-21 June 2017 in Moscow, Russia. (Photo: Rosatom)

    The IAEA profiles employees to provide insight into the variety of career paths that support the Agency’s mission of Atoms for Peace and Development and to inspire and encourage readers, particularly women, to pursue careers in STEM (science, technology, engineering and mathematics) or STEM-adjacent fields. Read more profiles of women at the IAEA.   

    Growing up in a conservative, Chinese household in Canada, Gloria Kwong was raised to avoid taking risks and to prioritize her education to help ensure her success.  

    Throughout her professional journey, which has led her from Canada to Austria via France, Kwong has always remained committed to her work in the areas of nuclear waste, decommissioning and environmental remediation. During her career, she has navigated challenges in a male-dominated industry and advises young women to follow their passions and embrace new opportunities, even when they come with challenges or risks. 

    As a young girl, Kwong aspired to become a professional chef, but her parents encouraged her and her four siblings to focus on their academic studies. After high school, Kwong earned a bachelor’s and master’s degree in chemical engineering at the University of Toronto, Canada, and within a few years, she advanced to a managerial role at a leading telecommunications company. However, she realized that her passion was in more technically demanding work, eventually leading her to her current role as Head of the Decommissioning and Environmental Remediation Section at the IAEA.   

    “It may surprise people that my experience working in a managerial position for a telecommunications company impacts my work at the IAEA. Although technical competency is essential, good decision-making, communication, and interpersonal skills are no less important, and this is something that comes in hand every day when I work with my team and colleagues at the Agency. An unconventional professional background does not limit you, but instead provides you with more tools to succeed,” said Kwong. 

    Seeking to broaden her horizons, Kwong transitioned to the nuclear field as a design engineer at the Ontario Power Generation Darlington Power Station (OPG) in Toronto. While working as a Senior Engineer at OPG, Kwong pursued her PhD in materials engineering from Imperial College London. It would be years later before Kwong took another career leap – this time across the Atlantic. After over a decade at OPG, which later became the Nuclear Waste Management Organization, she was offered the position of Radioactive Waste Management Specialist at the OECD Nuclear Energy Agency (NEA) in Paris, France. 

    Kwong’s career at the NEA was marked by her willingness to take on new challenges and leadership roles. For over 11 years, she held various managerial positions, including Acting Head of the Radioactive Waste Management Division and the Nuclear Technology Development & Economics Division. Her leadership skills and technical insight were recognized, leading to other roles as Deputy Head of the Office of Policy and Coordination, Head of the International Framework for Nuclear Energy Cooperation, and eventually, Senior Advisor to the Director-General. 

    Like other women working in a male-dominated industry, Kwong made a concerted effort to establish her credibility and earn the respect of her peers. Her career has been filled with professional milestones and unique international experiences, but it has not been without challenges. 

    “A big hurdle for women has always been work-life balance and prioritizing career development , but I see more employers, like the IAEA, addressing these matters through educational scholarships that relieve financial burdens, flexible professional development programmes and new, accommodating HR policies, thereby attracting more women to the nuclear sector,” said Kwong. 

    After over a decade at the NEA, Kwong left Paris and moved to Vienna to join the IAEA as the Head of the Decommissioning and Environmental Remediation Section. She and her colleagues strive to promote nuclear decommissioning and environmental remediation by supporting sustainable nuclear energy development. They encourage countries to integrate circular economy principles into national decommissioning and radioactive waste management policies, and they facilitate knowledge sharing to promote the efficient use of resources and the safe reuse of materials. 

    “I want to contribute to narrowing the energy equity gap to ensure more people can access affordable, sustainable and clean energy. I believe that nuclear power can elevate its contribution to complement other clean energy sources, which is why I believe in the mission and work of the IAEA,” Kwong said.  

    Her piece of advice to young women considering a career in the nuclear field: 

    “Follow your heart in decision making. Explore other opportunities, and don’t be afraid to take some risks.” 

    MIL Security OSI –

  • MIL-OSI USA: Congressman Moran Receives Guardian of Small Business Award from National Federation of Independent Business

    Source: United States House of Representatives – Congressman Nathaniel Moran (TX-01)

    Washington, D.C. ­– Congressman Nathaniel Moran (R-TX-01) received the Guardian of Small Business Award from the National Federation of Independent Business (NFIB) for his efforts to support small businesses in East Texas and across the country. Congressman Moran received an 100% score from NFIB for his voting record in Congress on issues that impact small businesses.

    “I’m grateful to receive the NFIB Guardian of Small Business Award,” said Congressman Moran. “As a former small business owner, it’s a privilege to promote the right to own, operate, and help grow East Texas small businesses. I look forward to continuing the fight to protect Main Street businesses.”

    “The NFIB Guardian of Small Business Award is presented to Members of Congress with a demonstrated record of supporting America’s small and independent business owners,” said NFIB President Brad Close. “This Congress, small businesses faced tough economic headwinds, especially from inflation, labor shortages, and tax pressures at all levels of the government. We are proud to recognize the lawmakers from the 118th Congress who stood up for Main Street by taking pro-small business votes that would reduce taxes, eliminate burdensome government mandates, lower health insurance costs, and fuel the Main Street economy.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: GAO Reports on Botched FAFSA Rollout Reveal New Failures, Harm to Students

    US Senate News:

    Source: United States Senator for Maine Susan Collins

    The preliminary findings showed that more than 400,000 fewer students, disproportionately those from low- and middle-income families, did not utilize the FAFSA last year due to the Department of Education’s failures, which included an abysmal 25% support call center answer rate, and the application taking on average nearly 700 times longer to complete than the Department had advertised.

    Washington, D.C. – Today, U.S. Senator Susan Collins, a senior member of the Senate Health, Education, Labor, and Pensions Committee and the Vice Chair of the Senate Appropriations Committee, responded to the two statements released as part of the Government Accountability Office’s (GAO) preliminary findings reviewing the U.S. Department of Education’s (ED) failure to roll out the updated and simplified 2024-2025 Free Application for Federal Student Aid (FAFSA). The first statement of the two focused on the impact this failure had on students and schools, and the second reviewed the technical problems that led to this failure. Last month, the ED announced that the 2025-2026 FAFSA form will again not be available nationwide by the traditional release date of October 1.
    In January of this year, Senator Collins was part of the bicameral group that called on the Government Accountability Office (GAO) to conduct these investigations into the Department of Education’s failure to implement the 2024-2025 FAFSA program. The final report is estimated for release in 2025. Last week, Senator Collins has joined a bipartisan group of her colleagues in introducing a resolution condemning the botched implementation by the Department of Education of the 2024-2025 FAFSA and the requirements mandated by the FAFSA Simplification Act.
    “These statements confirm much of what was already assumed, that the failures of the ED and its leadership have led to hundreds of thousands fewer students, many of them from low- and middle-income households, filling out a FAFSA application. The Department’s failures have directly led to many young people foregoing a traditional college education, for no reason other than lack of affordability,” said Senator Collins. “In my time working at Husson University, I learned firsthand the devastating impact a failure of this sort has on Maine students and families—whose decision of whether to send their children to college, especially for aspiring first-generation college students, is directly tied to the costs of doing so. With these reviews, it is clear that the Department must be held accountable for failing the American people in one of their most fundamental duties as a federal education agency. Maine families cannot make significant financial decisions for their children if they do not know what student aid is being made available to them, and the leadership of the Department must answer for these unacceptable mistakes.”
    The negative outcomes of the botched 2024-2025 FAFSA rollout described in the GAO statements include:
    Over 432,000 fewer students utilized the FAFSA, a 3% decrease from the previous year.
    The most significant decrease was amongst households who make between $30,000-$48,000 a year, where FAFSA applications were down 11%.
    The ED has reported and advertised that the new FAFSA form would only take between 15-20 minutes to complete. The actual average completion time for dependent first-time applicants was 5 days. The longer it takes for a student to complete a FAFSA, the less likely students and families are to finish it.
    74% of calls made to the Federal Student Aid (FSA) Call Center went unanswered.
    Additionally, the FSA waited 5 months before increasing call center staffing after the delayed launch.
    For those who submitted a paper FAFSA, FSA did not confirm receipt of forms. Those who submitted paper FAFSAs had to wait between 7 and 8 months before knowing if FSA had even received their application.
    ED mistakenly did not allow an applicant whose parent did not have a social security number to complete a FAFSA until 2 months after the form was launched. Then, ED grossly underestimated the work to verify the identity of parents who are non-citizens, required by law by 63 times. As a result, they suspended the requirement. It also did not allow for the automatic transferring of tax information for non-citizens with Individual Tax Identification Numbers (TIN). ED still has not timeline for fixing this issue.
    34,000 students who submitted paper FAFSAs did not receive confirmation of the receipt of their FAFSA until 7 months after it was submitted.
    ED does not have any comprehensive communication plan that includes steps to provide FAFSA applicants with timely updates on the status of their application and solutions to technical barriers.
    There are over 20 technical issues with the FAFSA processing system as of August 2024.
    The online form submission system was demonstrated to have an extremely high rate of defects. After deploying the system, 7 of the 55 discovered defects were categorized as “critical.”
    In 2020, Senator Collins co-sponsored the bipartisan FAFSA Simplification Act, which passed Congress, and required the Department of Education to roll out a new simplified FAFSA program by January 1, 2024. Despite having three years to prepare, the application was only made available for borrowers for 30 minutes on December 30, 2023 and then one additional hour on December 31, 2023. The application was then only accessible for sporadic periods until it became fully live on January 6, 2024. After the FAFSA went fully live, it was still plagued with issues, including delivering incorrect applicant data to colleges.
    In April of this year, Senator Collins questioned Secretary of the Department of Education Miguel Cardona on the Department’s failure to implement the FAFSA Simplification Act during an Appropriations hearing. Following the hearing, Senator Collins and a bipartisan, bicameral group of 10 Committee leaders in the U.S. Senate and U.S. House of Representatives sent a letter to Secretary Cardona urging the Department to prioritize the timely rollout of the 2025-2026 FAFSA form. Yet still, In August, the ED again announced that the release of the 2025-2026 FAFSA form will also be delayed, this time, until December 1, 2024.

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Tenney Condemns Hochul Administration’s Silence on Embedded CCP Agent

    Source: United States House of Representatives – Congresswoman Claudia Tenney (NY-22)

    Washington, DC – Congresswoman Claudia Tenney (NY-24) today issued the following statement in response to the Hochul Administration’s failure to address her inquiries by the September 18 deadline regarding the Department of Justice’s recent indictment of Linda Sun, a high-ranking official in the Hochul administration, for allegedly acting as an agent of the Chinese Communist Party (CCP).

    “Governor Hochul’s failure to respond promptly sends a dangerous message not only to the CCP but to all foreign adversaries seeking to infiltrate our government. Clearly, Governor Hochul does not take this issue seriously and is content with CCP infiltration of her administration. We must hold Governor Hochul accountable and ensure any other CCP operatives within this administration are exposed and removed. In addition, Hochul must recognize the serious consequences this has had on the state’s relationship with Taiwan and our economy. Her administration must immediately address these concerns and initiate a bipartisan investigation to ensure no compromised CCP agents remain employed by New York State,” said Congresswoman Tenney. 

    View Tenney’s letter that she sent to Governor Hochul on September 5th here. 

    ###

    MIL OSI USA News –

  • MIL-OSI Africa: Secretary-General’s remarks at the Sustainable Development Goals (SDGs) Moment Event [bilingual, as delivered; scroll down for all-English and all-French]

    Source: United Nations – English

    xcellencies, dear friends,  

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.

    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.  

    Gardons les Objectifs de développement durable en vie.

    Je vous remercie.

    ***
    [all-English]

    Excellencies, dear friends,

    The Sustainable Development Goals represent a bold vision: a commitment to a better, healthier, safer and more prosperous and sustainable future.   

    But the Goals are facing massive headwinds.

    More than 4 out of 5 SDG targets are off track.

    On top of the impacts from a global pandemic, many countries are being crushed by massive debt burdens, limited liquidity and sky-high borrowing costs.

    Conflicts, hunger, inequalities and the climate crisis are all intensifying.

    And the global financial architecture is not providing developing countries with sufficient financing and liquidity or to act as an effective safety net for all.

    The world has the wealth, the technology, and the know-how to achieve the SDGs.

    Last September’s SDG Summit included consensus around an SDG Stimulus of at least $500 billion per year in financing for developing countries — and the need for global financial architecture reform.

    It highlighted key transitions to generate maximum progress — ending hunger, expanding renewable energy, digitalization, education, social protection and decent work, and ending the triple planetary crisis of climate change, pollution and biodiversity loss.

    It also underscored the vital importance of ensuring that women, girls and young people are at the decision-making table.   

    Today, you will hear from leaders about their countries’ progress across all these areas — leaders determined to make changes, even in the face of great odds.

    And we will celebrate some milestones at the global level.

    From reducing child mortality rates…to preventing new HIV infections…to increasing access to renewable energy and broadband …to greater gender parity across education systems.

    As we reflect on next steps, I urge focus on the three development drivers that can accelerate progress.

    The first is finance. 

    Crushing debt and inefficient tax systems are starving investments in health, education and food in many developing countries.
       
    The Pact for the Future includes support for the SDG Stimulus and global financial architecture reform to help ease the debt crisis of so many developing countries.

    This includes multiplying the lending capacity of Multilateral Development Banks to provide more resources for climate action and sustainable development, and changing their business model to leverage massive amounts of private finance.  

    As we look towards next year’s Summits on Social Development and Financing, I urge all countries to double down on these reform efforts.

    The second development driver is climate action.

    I urge countries to put forward ambitious national climate action plans that align with the 1.5 degree limit, and cover the whole economy and all sectors.

    This requires aligning national energy strategies with a 1.5-degree world, ending fossil fuel subsidies and putting a price on carbon.

    It is time for a rapid and just phase-out of fossil fuels, and a rapid and smart scale-up of renewables to drive sustainable development, energy security and economic prosperity.

    We must fairly and sustainably meet the global demand for critical minerals that can power the renewables revolution. And the Panel on Critical Energy Transition Minerals has provided recommendations to do this.

    Protecting development gains from climate upheaval is also critical.

    We need new and generous contributions to the Loss and Damage Fund.

    We need developed countries honouring their commitment to double adaptation funding by 2025.

    And we need governments to agree on a significant new climate finance goal at COP29, including new and innovative sources of finance.

    And the third development driver is peace.

    All our development plans are quickly erased by relentless conflicts that cause death, destruction, hunger, displacement and gender-based violence.

    And the resources we desperately need to feed and educate our children and build a sustainable planet for our young people are wasted on military expenditures.

    We need peace — from Gaza to Ukraine to Sudan and beyond.

    I call on global leaders to heal divisions, end conflicts, and invest in people and peace.

    Dear friends,

    In our world of unprecedented wealth, knowledge and technologies, there is no excuse.

    It’s time to keep the promises of the 2030 Agenda for Sustainable Development to end poverty, protect the planet, and leave no one behind.  

    Let’s keep the SDG commitment alive.

    Thank you.

    ***
    [all-French]

    Excellences, Chers amis,

    Les objectifs de développement durable incarnent une vision audacieuse. Ils constituent un engagement en faveur d’un avenir meilleur, plus sain, plus sûr, plus prospère et plus durable.

    Mais les vents contraires sont nombreux.

    Nous sommes mal partis pour atteindre plus de quatre sur cinq de toutes les cibles associées aux objectifs de développement durable.

    Outre les conséquences d’une pandémie mondiale auxquelles ils doivent faire face, de nombreux pays sont écrasés par un endettement massif, des liquidités limitées et des coûts d’emprunt très élevés.

    Les conflits, la faim, les inégalités et la crise climatique s’intensifient.

    En outre, l’architecture financière mondiale ne permet pas aux pays en développement de pouvoir compter sur suffisamment de financements et de liquidités et ne leur offre pas un filet de sécurité efficace pour tous.

    Le monde a pourtant les richesses, les technologies et le savoir-faire qu’il faut pour atteindre les objectifs de développement durable.

    Au mois de septembre dernier, le Sommet sur les objectifs de développement durable a permis de dégager un consensus autour d’un plan de relance des objectifs de développement durable, prévoyant des financements d’au moins 500 milliards de dollars par an pour les pays en développement – et de s’accorder sur le fait qu’il est nécessaire de réformer l’architecture financière mondiale.

    L’accent a été mis sur les transitions clés qui permettront d’accomplir un maximum de progrès dans toute une série de domaines : élimination de la faim, développement des énergies renouvelables, numérisation, éducation, protection sociale et travail décent, ainsi que de mettre fin à la triple crise planétaire, à savoir les changements climatiques, la pollution et l’appauvrissement de la biodiversité.

    Il a également été souligné qu’il était crucial de veiller à ce que les femmes, les filles et les jeunes aient leur place à la table des décisions.

    Aujourd’hui, vous entendrez des dirigeants et dirigeantes parler des progrès réalisés par leur pays dans tous ces domaines. Ils sont déterminés à faire bouger les lignes, en dépit des difficultés énormes auxquelles ils heurtent.

    Et nous célébrerons des réussites phares à l’échelle planétaire : depuis la réduction des taux de mortalité infantile jusqu’à l’amélioration de la prévention des nouvelles infections par le VIH, en passant par l’élargissement de l’accès aux énergies renouvelables et de l’accès au haut débit et par l’amélioration de la parité entre les femmes et les hommes dans les systèmes éducatifs.

    Alors que nous réfléchissons aux prochaines étapes, je vous invite à vous concentrer sur les trois moteurs du développement qui pourraient permettre d’accélérer le rythme des progrès.

    Tout d’abord, les financements.

    Dans de nombreux pays en développement, les investissements dans les domaines de la santé, de l’éducation et de l’alimentation sont exsangues à cause du niveau écrasant de la dette et de l’inefficacité des systèmes fiscaux.

    Dans le Pacte pour l’avenir, il est prévu d’appuyer le plan de relance des objectifs de développement durable et la réforme de l’architecture financière mondiale afin d’atténuer la crise de la dette que traversent de trop nombreux pays en développement.

    Il s’agit notamment de multiplier la capacité de prêt des banques multilatérales de développement afin de dégager davantage de ressources pour l’action climatique et le développement durable, et de modifier leur modèle de fonctionnement afin de mobiliser en masse des financements privés.

    Les Sommets sur le développement social et le financement auront lieu l’an prochain, et j’invite tous les pays à redoubler d’efforts pour faire avancer la réforme dans cette perspective.

    Le deuxième moteur du développement, c’est l’action climatique.

    J’invite les pays à adopter des plans d’action nationaux pour le climat qui soient ambitieux, en ne dépassant pas la limite des 1,5 degré, et en couvrant l’ensemble de l’économie et tous les secteurs.

    Il faudra pour cela aligner les stratégies énergétiques nationales sur l’objectif d’une élévation de la température mondiale ne dépassant pas les 1,5 degré, mettre fin aux subventions aux combustibles fossiles et fixer un prix pour le carbone.

    L’heure est venue d’éliminer progressivement mais rapidement les combustibles fossiles, au terme d’une transition équitable, et d’augmenter rapidement, avec discernement, les énergies renouvelables pour favoriser le développement durable, la sécurité énergétique et la prospérité économique.

    Nous devons répondre d’une manière juste et durable à la demande mondiale en minéraux essentiels, qui ont le potentiel de porter la révolution des énergies renouvelables. Et le Groupe chargé de la question des minéraux essentiels à la transition énergétique a formulé des recommandations à cette fin.

    Il est également essentiel de protéger les acquis du développement face aux bouleversements climatiques.

    Il faut par ailleurs que de nouvelles et généreuses contributions soient versées au Fonds pour les pertes et les préjudices.

    Les pays développés doivent honorer l’engagement qu’ils ont pris de doubler le financement de l’adaptation d’ici à 2025.

    Et il faut que les gouvernements se mettent d’accord sur un nouvel objectif ambitieux en ce qui concerne le financement de l’action climatique lors de la vingt-neuvième session de la Conférence des Parties à la Convention-cadre des Nations Unies sur les changements climatiques, y compris au sujet des sources de financement nouvelles ou novatrices.

    Le troisième facteur de développement, c’est la paix.

    Tous nos plans de développement sont rapidement anéantis par des conflits sans fin causant la mort, la destruction, la faim, les déplacements de populations et les violences basées sur le genre.

    Et les ressources dont nous avons tant besoin pour nourrir et éduquer nos enfants et construire une planète durable pour notre jeunesse sont gaspillées en dépenses militaires.

    Nous avons besoin de paix – à Gaza, en Ukraine, au Soudan, et partout ailleurs.

    J’appelle les dirigeants du monde entier à surmonter les divisions, à mettre fin aux conflits, et à investir dans l’avenir de leurs populations et dans la paix.

    Chers amis,

    Dans un monde de richesses exceptionnelles, de connaissances et de technologies sans précédent, nous n’avons aucune excuse.

    Il est temps de tenir les promesses du Programme 2030 – de mettre fin à la pauvreté, de protéger la planète, et de ne laisser personne de côté.

    Gardons les objectifs de développement durable en vie.

    Je vous remercie.
    ***

    MIL OSI Africa –

  • MIL-OSI Economics: Microsoft expands its Global Engineering Development Center’s footprint to the UAE’s capital, Abu Dhabi

    Source: Microsoft

    Headline: Microsoft expands its Global Engineering Development Center’s footprint to the UAE’s capital, Abu Dhabi

    The Development Center will support world-class engineering talent in developing cutting-edge solutions that drive innovation and deliver lasting global impact

    ABU DHABI, United Arab Emirates — Sept. 24, 2024 — Microsoft Corp. on Tuesday announced it is expanding its Global Engineering Development Center footprint to the UAE. A new development center, which will be established in Abu Dhabi, is Microsoft’s first engineering center to be launched in the Arab world, joining the company’s global portfolio of development centers across key strategic locations around the world.

    Microsoft’s Engineering Development Center in Abu Dhabi will be part of a global ecosystem of centers dedicated to the creation of AI innovations, cloud technologies and advanced cybersecurity solutions. The engineering teams at the center will create cutting-edge solutions that will be part of Microsoft solutions globally.

    This announcement is the latest in a series of investments by Microsoft that further strengthens the UAE’s position as a global hub of tech innovation and talent. Microsoft’s strategic partnership with G42 has been instrumental in establishing a thriving local technological ecosystem, and the new Microsoft Engineering Development Center will build on these efforts by not only creating cutting-edge technologies in the region but also attracting top tech talent from around the world to develop tailored solutions that tackle pressing challenges in critical industries globally.

    His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, said, “As a hub of innovation, Abu Dhabi is well-positioned to lead global efforts in AI, championing transformative solutions that benefit both people and the planet. Abu Dhabi’s advanced digital and physical infrastructure, combined with the UAE’s strategic location at the heart of the world, allows us to drive positive, far-reaching impacts across industries and societies alike.”

    Satya Nadella, Chairman and CEO, Microsoft, said, “We are committed to ensuring transformative technologies, like AI, benefit everyone broadly and create local opportunity. Our Engineering Development Center in Abu Dhabi will bring new talent to the region and help power innovation that will drive economic growth and job creation for both the UAE and the world.”

    Peng Xiao, Group CEO, G42, said, “The establishment of Microsoft’s Engineering Development Center in Abu Dhabi underscores the growing importance of the UAE as a hub for technological innovation. While G42 and Microsoft have worked together in the past to drive advancements in AI and cloud infrastructure, this new center will complement our collective efforts in building a more robust digital future for the region and beyond.”

    Samer Abu-Ltaif, Microsoft Corporate Vice President and President, Central and Eastern Europe, Middle East and Africa, said, “Today’s announcement reinforces our commitment to the region and our strategic partnership with the UAE. By empowering youth, collaborating with academia and fostering IP creation, we are unlocking the region’s potential. We are transitioning from consuming technology to contributing to its global creation. With a world-class Engineering Development Centre in Abu Dhabi, we drive innovation and support organizations worldwide to stay competitive in a digital world.”

    The Engineering Development Center in Abu Dhabi will also play a key role in advancing Microsoft’s efforts to upskill the regional workforce by empowering professionals already in the workforce as well as upcoming talent with the skills necessary to effectively leverage the latest advancements in cutting-edge technologies. This will be achieved through a series of collaborations with local universities, training centers and government initiatives, particularly in the fields of cloud computing, AI and cybersecurity. Microsoft’s efforts to invest in human capital and improve the employability of professionals, specifically in tech-driven sectors, are aligned with the diversification efforts of local governments and their ambitions to transition into a knowledge-based economy.

    Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.

    For more information, press only:

    Microsoft Media Relations, WE Communications, (425) 638-7777, [email protected]

    Note to editors: For more information, news and perspectives from Microsoft, please visit Microsoft Source at https://news.microsoft.com/source. Web links, telephone numbers and titles were correct at time of publication but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at https://news.microsoft.com/microsoft-public-relations-contacts.

    MIL OSI Economics –

  • MIL-OSI Europe: Written question – Ageing strategy for the Europe Union – E-001746/2024

    Source: European Parliament

    Question for written answer  E-001746/2024
    to the Commission
    Rule 144
    Idoia Mendia Cueva (S&D)

    On 27 January 2021, the Commission adopted a Green Paper on Ageing – Fostering solidarity and responsibility between generations (COM(2021)0050).

    Europe’s ageing population is one of the major challenges for the EU, but also an opportunity to transform our economy by creating better jobs and improving our long-term care system.

    In view of the above:

    • 1.Does the Commission take the view that it is time to continue the work initiated in the Green Paper and to move towards a White Paper setting out specific measures to address the challenge of ageing in the EU?
    • 2.Does the Commission believe that there is a need to develop an ageing strategy for the European Union, with clear and long-term objectives?

    Submitted: 18.9.2024

    Last updated: 24 September 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Briefing – Energy transition – 24-09-2024

    Source: European Parliament

    Energy transition is central to the European Union’s ambition to achieve climate neutrality by 2050. The EU greenhouse gas emissions reduction targets – 55 % by 2030 and net-zero by 2050 – have accelerated the move away from fossil fuels towards cleaner energy sources and increased energy efficiency. The REPowerEU plan and other EU measures launched in response to the energy crisis meanwhile brought to the fore the importance of ensuring energy security and energy affordability. Existing EU legislation in support of energy transition includes the recently revised Renewable Energy Directive, the Energy Efficiency Directive and the Energy Performance of Buildings Directive. These laws set targets for renewables in consumption, energy efficiency and building renovations. The recently adopted hydrogen and decarbonised gas market package, along with the electricity market reform, also promote the use of cleaner energy and integration of renewables into the EU energy system. The new political priorities of European Commission President Ursula von der Leyen include a future clean industrial deal boosting investment in clean energy infrastructure and technologies. The aim is to further decarbonise the economy and bring down energy prices. In a similar vein, the recent report on EU competitiveness (Draghi Report) highlights the need to reconcile industrial competitiveness with climate neutrality through increased support for clean technologies. These include for instance renewables (such as solar and wind), batteries, heat pumps, electrolysers (used for hydrogen production) and CO2 capture technologies. While the EU has been steadily increasing the rollout of renewables and working towards decarbonisation, several challenges remain. The energy infrastructure must be adapted to accommodate low-carbon energy sources through the expansion of grids and energy storage. Dependence on raw materials needed for clean energy technologies needs to be addressed. The new EU ambitions in terms of boosting industrial competitiveness will also require massive investment. All this has to happen while ensuring secure energy supply and energy affordability.

    MIL OSI Europe News –

  • MIL-OSI Europe: G7 DFIs, MedAccess, EIB, and IFC Announce MoU for Surge Financing Initiative for Medical Countermeasures

    Source: European Investment Bank

    Today, participating G7 development finance institutions (DFIs), MedAccess, the European Investment Bank (EIB), and the International Finance Corporation (IFC) announced the signing of a memorandum of understanding (MoU) for the Surge Financing Initiative for Medical Countermeasures (MCMs). These DFIs are working closely with global and regional health organizations to establish the collaboration frameworks and innovative financing mechanisms needed to support a rapid and equitable pandemic response. Building on lessons from the COVID-19 pandemic, the initiative will focus on the procurement, production, and distribution of vaccines, therapeutics, diagnostics, and other MCMs for low- and lower-middle-income countries. The MoU builds on the Joint Statement of Collaboration announced at UNGA last year as well as the Chair Summary and Report that outlined collaboration and innovating financing options. This effort is a joint collaboration between participating G7 DFIs, MedAccess, EIB, and IFC, in accord with G7 Hiroshima Vision for Equitable Access to Medical Countermeasures launched at the 2023 Hiroshima Summit and reaffirmed at the 2024 Apulia Summit.

    The MoU was signed by the U.S. International Development Finance Corporation (DFC, USA), Cassa Depositi e Prestiti (CDP, Italy), British International Investment & MedAccess (UK), KfW & Germany’s Development Finance Institution DEG (Germany), AFD & Proparco (France), JICA (Japan), EIB (European Union), and IFC (World Bank Group). The MoU also has support from the Government of Canada and leading global and regional health organizations.  

    This work builds on ongoing collaboration across many DFIs on regional manufacturing in Africa. The ongoing Mpox public health emergency underscores the importance of this collaboration and need for surge financing. Leveraging this initiative, DFIs met with leading global health organizations including the World Health Organization, Africa Centres for Disease Control and Prevention (Africa CDC), Gavi, and the Coalition for Epidemic Preparedness Innovations (CEPI) on August 22, soon after Mpox was declared a public health emergency of international concern, to discuss response efforts and financing needs.

    “DFC is proud to support this first-of-its kind framework to ensure DFIs can act swiftly and cohesively to provide surge financing for life-saving products at the start of a health emergency. We expect to leverage this initiative for the Mpox response, working closely with our U.S. Government, development finance, and health partners More broadly, DFC’s investments in health services, supply chains, and technology all help bolster pandemic preparedness and health system resilience.” said DFC DCEO Nisha Biswal.

    “JICA believes this surge financing initiative will enhance coordination among development finance institutions and health organizations to achieve our commitment to work towards equitable access to safe, effective, quality-assured and affordable MCMs for health emergencies, which Japan announced as Chair of the 2023 G7 Summit in Hiroshima.   Leveraging this initiative and JICA’s own lessons learned from the COVID-19 pandemic, we will continue to support countries that have suffered from inequitable access to MCMs in the past,” said Chief Representative of JICA USA Office Satoko Tanaka.

    “IFC is proud to participate in this innovative framework to support medical countermeasure financing mechanisms, an important step for responding more effectively to future health crises. Collaboration between development finance institutions and global health partners is key to ensure coordinated efforts that strengthen healthcare systems and supply chains, enhancing pandemic preparedness.” said Vice President of Industries Mohamed Gouled.

    “DEG and KfW are committed to the UN Sustainable Development Goals, one of which is improving healthcare”, said Member of the DEG Management Board Monika Beck. “Therefore, we are delighted to support this initiative to provide financing for healthcare products during health emergencies, together with our trusted development finance partner institutions. We are convinced that it is essential to join forces to support improved access to critical health products when they are in short supply.”

    “Sustainable development is linked to equitable and rightful access to health and well-being. As CDP, we strongly support this initiative, which has been mentioned in the G7 Leaders’ final declaration last June at the Apulia Summit, that will foster the development of health systems across emerging economies, ensuring the foundation is laid for research, production, and distribution of essential medicines, diagnostic equipment, and vaccines. The COVID-19 pandemic underscored the critical need for every nation to be equipped with the tools to safeguard public health in times of crisis. Achieving the 2030 UN SDGs will require robust global collaboration, and we are proud to partner with G7 DFIs, the European Investment Bank, and the International Finance Corporation to help make this vision a reality.” said CDP Director of International Development Cooperation Paolo Lombardo.

    “The COVID-19 pandemic showed us the value of working together but also the need to coordinate our actions more closely,” said EIB Vice President Thomas Östros. “With joint efforts, we can multiply our impact and effectiveness, especially in meeting current challenges such as Mpox and in tackling future health emergencies. At the EIB, global health is a key priority, and we highly value this partnership.”

    “The MoU is an important step towards strengthening global health security and reducing the impact of future pandemics on vulnerable populations. This furthers our commitment, as the UK’s DFI, to invest in businesses that provide essential health services and products, including vaccines. It will ensure that future health crises can be mitigated to allow continued economic growth and social progress in low- and middle-income countries, said BII Chair Diana Layfield.

    “When critical health products are in short supply, fast and flexible capital can make the difference between life and death,“ said CEO of MedAccess Michael Anderson. “The COVID-19 pandemic showed how quickly global supply chains can grind to a halt when overwhelming demand meets scarce supply. This led to inequitable distribution of medical products, leaving millions of people at risk from the disease. Today’s announcement underlines our shared commitment to being prepared for future pandemics with the capital and financial tools to enable companies to meet large-scale, urgent demand for lifesaving products.”

    “A lesson learned from the COVID-19 crisis is that it is possible to mobilize significant public and private financial resources in turbulent times. Let’s use this experience of successful mobilization to anticipate effective pandemic preparedness. I believe this Memorandum of Understanding is one of the necessary steps towards better coordination among Public Development Banks to mobilize the private sector and demonstrates the catalytic power of joining forces for innovative financial instruments, as explored by Finance in Common and its Social Investment Coalition. Health is a common good, no one should be left behind in the face of a pandemic,” said Rémy Rioux, CEO of AFD Group (AFD, Proparco, and Expertise France) and Chairman of Finance in Common Summit in Paris.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment contributing to EU policy goals. The EIB’s activities focus on the following priority areas: climate and environment, development, innovation and skills, small and medium-sized businesses, infrastructure, and cohesion. The EIB works closely with other institutions and has provided total financing of more than € 42 billion for healthcare-related projects around the world since it started investing in the sector in 1997.  

    The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights. 

    MIL OSI Europe News –

  • MIL-OSI Europe: Answer to a written question – Effects of drought on Mediterranean regions – E-001512/2024(ASW)

    Source: European Parliament

    1. In her recently published 2024-2029 Political Guidelines[1], the President of the Commission has announced that the next Commission intends to adopt a European Water Resilience Strategy to ensure that water is properly managed, scarcity reduced, and the competitive edge of Europe’s water industry strengthened also using a circular economy approach. The adoption date of the strategy will be determined once the new Commission is in place.

    2. It is very important for Member States to close their investment gaps by using existing European funds to the fullest extent. The current Mult i annual Financial Framework 2021-2027[2] already provides for various possibilities to financially support improvements of water management and innovation in the water sector (through the European Regional Development Fund[3], the Recovery and Resilience Fund[4], Horizon Europe[5], the EU programme for the environment and climate action[6] etc) . Moreover, the Common Agricultural Policy for 2023-2027[7] funds more efficient irrigation, supports nature-based solutions and organic farming. In case of natural disasters or health emergencies, Member States may also seek support from the EU Solidarity Fund[8].

    • [1] https://commission.europa.eu/about-european-commission/president-elect-ursula-von-der-leyen_en
    • [2] https://commission.europa.eu/strategy-and-policy/eu-budget/long-term-eu-budget/2021-2027_en
    • [3] https://ec.europa.eu/regional_policy/funding/erdf_en
    • [4] https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility_en
    • [5] For instance, ongoing Horizon Europe programmes regarding water resilience include ‘the Water4All Partnership (https://www.water4all-partnership.eu/) , the Partnership on Research and Innovation in the Mediterranean Area — PRIMA (https://prima-med.org/) , the EU missions “A Soil Deal for Europe” (https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe/eu-missions-horizon-europe/soil-deal-europe_en), “Restore our Ocean and Waters” (https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe/eu-missions-horizon-europe/restore-our-ocean-and-waters_en) and “Adaptation to Climate Change” (https://research-and-innovation.ec.europa.eu/funding/funding-opportunities/funding-programmes-and-open-calls/horizon-europe/eu-missions-horizon-europe/adaptation-climate-change_en ).
    • [6] https://cinea.ec.europa.eu/life_en
    • [7] https://agriculture.ec.europa.eu/common-agricultural-policy/cap-overview/cap-2023-27_en
    • [8] https://ec.europa.eu/regional_policy/funding/solidarity-fund_en
    Last updated: 24 September 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet

    Source: European Investment Bank

    EIB

    • The EIB and Kyiv have signed a €50 million agreement to modernise the city’s metro rolling stock with energy-efficient coaches.
    • The investment will help the Kyiv metro end its dependence on Russian-made spare parts, ensuring more resilient and reliable transport – essential for keeping the capital moving for both business operations and residents in their daily lives.
    • The €50 million, supported by the EIB’s EU for Ukraine Fund, is part of a larger €200 million loan package approved by the EIB and available to Kyiv for metro infrastructure upgrades.

    The European Investment Bank (EIB) and the city of Kyiv have signed a €50 million loan agreement to finance the purchase of new metro coaches. This initiative aims to modernise Kyiv’s metro fleet and provide reliable transport for millions of the capital’s residents. The agreement was signed today at EIB headquarters in Luxembourg during a visit by a delegation from the Kyiv City State Administration.

    Before the war, 80% of Kyiv’s metro fleet came from Russian manufacturers, making ending this reliance a strategic priority. With over 60% of the fleet past its operational life, the new funding will allow outdated coaches to be replaced with modern, energy-efficient alternatives from local or international suppliers. This aligns with the Kyiv City Development Strategy 2025 and Ukraine’s National Transport Strategy 2030, aimed at building a more sustainable and reliable public transport system.

    The €50 million, supported by the EIB’s EU for Ukraine Fund, represents the first tranche of a €200 million loan made available by the Bank, with this initial amount being provided exclusively for the purchase of new metro coaches for Kyiv. The remaining €150 million will be provided following an EIB-funded feasibility study on the viability of buying further new coaches versus modernising some of the existing fleet. The total funding will enable Kyivskyi Metropoliten, the municipal enterprise that operates the Kyiv metro system, to upgrade or replace between 120 and 160 metro coaches, enhancing the city’s transport infrastructure.

    Mykola Povoroznyk, First Deputy Head of Kyiv City State Administration, said, “In the midst of this large-scale invasion, Kyiv continues to develop. All areas of the city’s economy have been reconfigured to work in wartime conditions. This is not only about ensuring stable operation, but also about spurring development with modern technology. Foreign donors also take an active role here. The EIB is a long-standing, reliable partner of Kyiv. The project to modernise the capital’s metro rolling stock is important for our city, and we are very grateful to the EIB for supporting its implementation. The Kyiv metro is one of the most popular modes of transport in the capital. Millions of passengers use it every day. That is why, first and foremost, the purchase of modern, energy-efficient metro coaches means making passenger transport safer, and making better use of funds from the Kyiv city budget for rolling stock. It’s an urgent and high-priority issue today, taking into account the war conditions in Ukraine.”

    EIB Vice-President Teresa Czerwińska, who is in charge of Bank’s operations in Ukraine, said, “The EIB is steadfast in its commitment to supporting Kyiv and cities throughout Ukraine as they modernise their infrastructure, particularly in the face of ongoing wartime challenges. The Kyiv metro is a critical transportation lifeline, and this investment will greatly improve its reliability and resilience. By reducing reliance on Russian-manufactured rolling stock, spare parts and maintenance equipment, this collaboration marks an essential step toward enhancing Ukraine’s independence and aligning its transport systems with European standards. Reliable connectivity is vital for the economic growth and the well-being of the city’s residents.”

    The EIB’s continuing support for Kyiv and Ukraine

    The EIB remains committed to its long-standing relationship with the Kyiv authorities and is working closely on urban transport projects supported by EIB loans. These initiatives aim to improve the capital’s public transport fleet, having already delivered 20 new low-floor trams to Kyiv, with additional modern buses, funicular carriages and metro coaches forthcoming.

    Since the onset of Russia’s war in Ukraine, the EIB has provided more than €2 billion of financing for emergency repairs to the country’s ravaged infrastructure. Through its EU for Ukraine (EU4U) Initiative, coupled with its key role in implementing the European Union’s €50 billion Ukraine Facility, the EIB is strongly committed to stepping up its activities in line with the mandate given by EU leaders and in close cooperation with the European Commission, the European Parliament, EU Member States and international partners.

    Background information 

    EIB Global is the EIB Group’s new specialised arm devoted to increasing the impact of international partnerships and development finance outside the European Union. It is designed to foster strong, focused partnership within Team Europe and as part of the EU Global Gateway strategy, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world. 

    The EU for Ukraine Fund (EU4U) was established in 2023 as part of a larger EU for Ukraine initiative. The fund aims to accelerate the support of EIB Global for Ukraine’s most urgent infrastructure needs and to help sustain the country’s economy. It supports critical recovery and reconstruction projects involving both the public and the private sectors and improves access to finance for entrepreneurs in Ukraine. To date, the fund has secured over €420 million in pledges from the Member States.

    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    ©EIB
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    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    Ukraine: EIB provides €50 million to help Kyiv replace Russian-made metro coaches with a modern fleet
    ©EIB
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    MIL OSI Europe News –

  • MIL-OSI Europe: European Union and Bill & Melinda Gates Foundation partner to expand contraceptive and health access for women in low- and middle-income countries.

    Source: European Investment Bank

    Today, on the sidelines of the UN General Assembly in New York, the European Union (EU) and the Bill & Melinda Gates Foundation announced they are developing new financing mechanisms to accelerate access to health products, including safe, effective and affordable contraceptive and maternal health medicines. These will allow more women living in low- and middle-income countries (LMICs) to better meet their needs.

    The announcement followed a meeting between Nadia Calvino, President of the European Investment Bank (EIB), Jutta Urpilainen, European Commissioner for International Partnerships and Bill Gates, co-chair of the Bill & Melinda Gates Foundation.

    One new mechanism under discussion is with the United Nations Population Fund (UNFPA), the UN’s sexual and reproductive health agency. This mechanism is expected to help reduce costs and address barriers so that more women can benefit from contraception and maternal health medicines. This will enable women to plan their families, leading to healthier women and children, as well as empowering local communities and economies. Access to safe, voluntary, family planning is a human right, which helps to lower maternal ill-health and the number of pregnancy-related deaths.

    Currently, UNFPA works with national governments to support low- and middle-income countries to access contraceptives and maternal health medicines but can only place orders to support national plans once they have contributions in the bank. This is despite more than 60% of donation commitments being multi-year. The new mechanism will be designed to frontload multi-year donor commitments, and enable advanced planning, visibility and commitments to low- and middle-income countries. It will enable broader and more sustainable access to family planning products for women.

    This financing mechanism is envisioned to be led by the EIB, backed by the European Commission. It will be supported by funding from the Bill & Melinda Gates Foundation to the UNFPA Supplies Partnership, to be delivered over five years.

    In addition, the EIB and the European Commission are developing new financial guarantees of up to €170m for gender and human development which will stipulate a certain volume of new products to be taken to market, incentivising investment to manufacture life-saving products at scale. This forms part of a broader partnership between the European Commission, European Investment Bank and the Bill & Melinda Gates Foundation to accelerate investments to improve health and nutrition in low- and middle-income countries, including through the Human Development Accelerator (HDX), a Global Gateway initiative.

    Globally, more than 257 million women and girls who want to avoid pregnancy are not using a modern contraceptive method[1]. Without additional resources, there could be a $1.5B funding gap by 2030 for contraceptive products in low- and middle-income countries. Currently, over 40% of low- and middle-income countries report that more than 4 in 10 service delivery points had stockouts, and countries face long waiting times for deliveries.

    “Every woman, everywhere, should have the right to plan a family, pursue an education, and follow her dreams,” said EIB President Nadia Calviño. “Safe and affordable contraception makes this possible.  We are proud to partner with the United Nations Population Fund, the European Commission and the Gates Foundation to reduce costs and barriers for women and make sure they are in the driving seat of their own lives.”

    Jutta Urpilainen, European Commissioner for International Partnerships, said: “Promoting gender equality is at the core of the EU’s external action. We are proud to invest in sexual and reproductive health products and services that empower women to reach their full potential, and contribute to building inclusive, prosperous communities.”

    Bill Gates, co-chair of the Bill & Melinda Gates Foundation, said, “Far too often, women in low- and middle-income countries don’t have the contraceptive choices they want, and there’s not enough being done to close that gap. The European Institutions’ leadership will make a huge difference in the lives of women and in the health of entire communities and countries—because when women can control their health and financial futures, everyone benefits.”

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It is active in more than 160 countries and makes long-term finance available for sound investment in order to contribute towards EU policy goals.

    EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world. 

    Global Gateway

    Global Gateway is the European Union‘s initiative to unlock investments and boost global connectivity through sustainable infrastructure projects. Launched in 2021, it seeks to mobilise up to €300 billion by 2027 to finance programmes in strategic sectors such as digital technology, climate and energy, transport, health, education, and research. The initiative emphasises a values-driven approach, promoting environmental sustainability, social inclusion, and democratic governance while strengthening trade and development ties with partner countries.

    Bill & Melinda Gates Foundation

    Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of co-chairs Bill Gates and Melinda French Gates and the board of trustees.

    [1] https://www.unfpa.org/swp2022/challenges

    MIL OSI Europe News –

  • MIL-OSI Europe: European Union and Bill & Melinda Gates Foundation partner to expand contraceptive and health access for women in low- and middle-income countries.

    Source: European Investment Bank

    Today, on the sidelines of the UN General Assembly in New York, the European Union (EU) and the Bill & Melinda Gates Foundation announced they are developing new financing mechanisms to accelerate access to health products, including safe, effective and affordable contraceptive and maternal health medicines. These will allow more women living in low- and middle-income countries (LMICs) to better meet their needs.

    The announcement followed a meeting between Nadia Calvino, President of the European Investment Bank (EIB), Jutta Urpilainen, European Commissioner for International Partnerships and Bill Gates, co-chair of the Bill & Melinda Gates Foundation.

    One new mechanism under discussion is with the United Nations Population Fund (UNFPA), the UN’s sexual and reproductive health agency. This mechanism is expected to help reduce costs and address barriers so that more women can benefit from contraception and maternal health medicines. This will enable women to plan their families, leading to healthier women and children, as well as empowering local communities and economies. Access to safe, voluntary, family planning is a human right, which helps to lower maternal ill-health and the number of pregnancy-related deaths.

    Currently, UNFPA works with national governments to support low- and middle-income countries to access contraceptives and maternal health medicines but can only place orders to support national plans once they have contributions in the bank. This is despite more than 60% of donation commitments being multi-year. The new mechanism will be designed to frontload multi-year donor commitments, and enable advanced planning, visibility and commitments to low- and middle-income countries. It will enable broader and more sustainable access to family planning products for women.

    This financing mechanism is envisioned to be led by the EIB, backed by the European Commission. It will be supported by funding from the Bill & Melinda Gates Foundation to the UNFPA Supplies Partnership, to be delivered over five years.

    In addition, the EIB and the European Commission are developing new financial guarantees of up to €170m for gender and human development which will stipulate a certain volume of new products to be taken to market, incentivising investment to manufacture life-saving products at scale. This forms part of a broader partnership between the European Commission, European Investment Bank and the Bill & Melinda Gates Foundation to accelerate investments to improve health and nutrition in low- and middle-income countries, including through the Human Development Accelerator (HDX), a Global Gateway initiative.

    Globally, more than 257 million women and girls who want to avoid pregnancy are not using a modern contraceptive method[1]. Without additional resources, there could be a $1.5B funding gap by 2030 for contraceptive products in low- and middle-income countries. Currently, over 40% of low- and middle-income countries report that more than 4 in 10 service delivery points had stockouts, and countries face long waiting times for deliveries.

    “Every woman, everywhere, should have the right to plan a family, pursue an education, and follow her dreams,” said EIB President Nadia Calviño. “Safe and affordable contraception makes this possible.  We are proud to partner with the United Nations Population Fund, the European Commission and the Gates Foundation to reduce costs and barriers for women and make sure they are in the driving seat of their own lives.”

    Jutta Urpilainen, European Commissioner for International Partnerships, said: “Promoting gender equality is at the core of the EU’s external action. We are proud to invest in sexual and reproductive health products and services that empower women to reach their full potential, and contribute to building inclusive, prosperous communities.”

    Bill Gates, co-chair of the Bill & Melinda Gates Foundation, said, “Far too often, women in low- and middle-income countries don’t have the contraceptive choices they want, and there’s not enough being done to close that gap. The European Institutions’ leadership will make a huge difference in the lives of women and in the health of entire communities and countries—because when women can control their health and financial futures, everyone benefits.”

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It is active in more than 160 countries and makes long-term finance available for sound investment in order to contribute towards EU policy goals.

    EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world. 

    Global Gateway

    Global Gateway is the European Union‘s initiative to unlock investments and boost global connectivity through sustainable infrastructure projects. Launched in 2021, it seeks to mobilise up to €300 billion by 2027 to finance programmes in strategic sectors such as digital technology, climate and energy, transport, health, education, and research. The initiative emphasises a values-driven approach, promoting environmental sustainability, social inclusion, and democratic governance while strengthening trade and development ties with partner countries.

    Bill & Melinda Gates Foundation

    Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people—especially those with the fewest resources—have access to the opportunities they need to succeed in school and life. Based in Seattle, Washington, the foundation is led by CEO Mark Suzman, under the direction of co-chairs Bill Gates and Melinda French Gates and the board of trustees.

    [1] https://www.unfpa.org/swp2022/challenges

    MIL OSI Europe News –

  • MIL-OSI USA: Attorney General Bonta Secures $7.7 Million Settlement with L.A. County-Based Healthcare Provider, Resolving Corporate Fraud Allegations

    Source: US State of California

    Tuesday, September 24, 2024

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND — California Attorney General Rob Bonta today announced a settlement with U.S. Healthworks (USHW), a nationwide chain of occupational and urgent care clinics. The $7.7 million settlement resolves allegations that USHW knowingly kept millions of dollars from the State of California in unclaimed property, in violation of the Unclaimed Property Law (UPL) and the California False Claims Act (CFCA). The unclaimed property in question included patient balances due to overpayment. As part of the settlement, USHW must hand over unclaimed property totaling $1.5 million to the State Controller’s Office.

    “When companies cheat the State of California, they cheat the people of California,” said Attorney General Bonta. “U.S. Healthworks knowingly and repeatedly chose not to comply with the law by retaining millions of dollars that did not rightfully belong to them. This $7.7 million settlement signals my office is vigorously committed to protecting California against corporate fraud and financial misconduct.”

    At times, urgent care centers carry patient balances due to overpayment. This happens when an insurance payment is more than was anticipated after patients pay out-of-pocket costs. While the urgent care should issue a refund in these situations, sometimes refund checks mailed to patients are returned or are never cashed.

    In March 2022, Attorney General Bonta filed a complaint alleging that USHW possessed unclaimed property as early as 2001, and did not file mandated reports with the State of California until 2018 after being notified of the Attorney General’s investigation.

    Under the UPL, all intangible property that remains unclaimed by the true owner for more than three years after it became payable or distributable must be reported and then remitted to the state. The UPL also mandates 12% interest per year on property that should have been reported or remitted to the state. The CFCA permits the Attorney General to bring a civil law enforcement action to recover treble damages and civil penalties against any person who knowingly makes or uses a false statement or document to either obtain money or property from the State or avoid paying or transmitting money or property to the State.

    Even when USHW filed reports with California, the company underreported the unclaimed property it held in 2018, 2019, 2020, and 2021. USHW violated the CFCA when it chose not to report its unclaimed property holdings, thereby knowingly concealing millions of dollars due to the State of California. Although USHW’s unreported property claims were repeatedly brought to management’s attention, management declined to comply and report the property to avoid an audit by state authorities. 

    A copy of the final judgment can be found here.

    # # #

    MIL OSI USA News –

  • MIL-OSI Banking: Basel Committee approves annual G-SIB assessment and advances follow-up response to 2023 banking turmoil

    Source: Bank for International Settlements

    • Discusses recent episodes of market and operational disruptions.
    • Basel Committee approves annual assessment exercise for global systemically important banks (G-SIBs).
    • Finalises analytical report on liquidity risk insights from the 2023 banking turmoil.

    The Basel Committee on Banking Supervision met virtually on 23–24 September to take stock of recent market developments and risks to the global banking system, and to discuss a range of policy and supervisory initiatives.

    Recent market developments

    Committee members discussed the spikes in market volatility in late July and early August. While the episodes were short-lived with no significant impact on the global banking system, they highlighted how the build-up of large, levered positions are prone to quick unwinding. They also underscored the importance of banks and supervisors continuing to vigilantly monitor and assess banks’ interconnections with non-bank financial intermediaries.

    The Committee also discussed the series of operational disruptions in July, which resulted in outages across numerous sectors, including some banks. These incidents highlighted the importance of banks’ operational resilience and management of third-party risks, and the systemic risks stemming from the reliance on the same third-party software or service. The Committee is currently consulting on proposed Principles for the sound management of third-party risk.

    Global systemically important banks

    The Committee approved the results of the end-2023 assessment exercise for G-SIBs. The results will be submitted to the Financial Stability Board before it publishes the 2024 list of G-SIBs. 

    2023 banking turmoil

    The Committee finalised an analytical progress report on the lessons learned from the 2023 banking turmoil. As requested by the Brazilian G20 Presidency, the report builds on the Committee’s initial report on the turmoil, with a particular focus on its follow-up analytical work on liquidity risk. The progress report will be submitted to G20 Finance Ministers and Central Bank Governors and published next month.

    The Committee also discussed progress on its work to strengthen supervisory effectiveness in the light of the lessons learned from last year’s turmoil by developing a suite of practical tools to support supervisors in their day-to-day work. This work covers the supervision of liquidity risk and interest rate risk in the banking book, the sustainability assessment of banks’ business models, and the importance of effective supervisory judgment.

    This forms part of a series of follow-up initiatives by the Committee to last year’s banking turmoil.

    Climate-related financial risks

    The Committee continued to review the comments received on its consultation proposing a Pillar 3 disclosure framework for climate-related financial risks.

    Note to editors

    The Basel Committee is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Committee reports to the Group of Central Bank Governors and Heads of Supervision and seeks its endorsement for major decisions. The Committee has no formal supranational authority, and its decisions have no legal force. Rather, the Committee relies on its members’ commitments to achieve its mandate. The Group of Central Bank Governors and Heads of Supervision is chaired by Tiff Macklem, Governor of the Bank of Canada. The Basel Committee is chaired by Erik Thedéen, Governor of Sveriges Riksbank. 

    More information about the Basel Committee is available here.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Norhana Endut: Opening remarks – workshop on navigating climate risk stress testing in Malaysia

    Source: Bank for International Settlements

    A very good morning to everyone. It is my great honour to welcome you to this workshop on “Navigating Climate Risk Stress Testing in Malaysia: Catalysing Dialogue and Charting the Course”, jointly organised by Bank Negara Malaysia (BNM) and the Joint Committee on Climate Change (JC3) Sub-Committee 1 Transition and Physical Risk Working Groups. This capacity building workshop brings together financial industry players and experts in related fields to share experiences, learn best practices and exchange ideas as we collectively prepare to conduct our first industry-wide climate risk stress test.

    We firmly believe that climate change is an immediate challenge that poses risks to our financial system. To this end, allow me to describe how the central bank is approaching financial regulation in this space. In Malaysia, we have taken steps to put in place the foundational components to improve the ability of financial institutions to identify, measure and manage climate-related financial risks. There are five key pieces to these foundational components.

    Firstly, a climate taxonomy establishes a consistent and common classification system for the identification of climate-related exposures. Second, mandatory climate disclosures by financial institutions will create an impetus for financial institutions to obtain information on their borrowers and investee firms. This, in turn, creates a virtuous cycle of informational flow. Third, regulatory standards on the management of climate-related risks set expectations for financial institutions to reflect these risks in their governance, strategy and risk practices. Fourth is a focus on transition planning. This is to ensure financial institutions set clear climate goals and concrete transition plans. With these building blocks in place, we are now in a good position for the fifth component, which is to accelerate industry capabilities via the conduct of the industry-wide climate risk stress test.

    Ladies and gentlemen,
    Allow me to shed more light on the motivation behind the implementation of the Climate Risk Stress Test. The exercise is primarily intended to enhance capacity building among financial institutions in assessing how their business and operations could be affected by climate risks. Throughout the journey of conducting the stress test, financial institutions will uncover gaps related to data, technology, and methodologies. This serves as a starting point for the institution to assess their internal capability and find ways to address these gaps. In other words, the climate stress test is a forward-looking tool to help financial institutions in identifying, measuring and mitigating their climate risk exposures.

    When designing this stress test for Malaysia, at Bank Negara Malaysia, we have strived to incorporate learnings from other jurisdictions, including adapting and incorporating several Malaysia’s specific elements in terms of its economic structure and financial system. We have also incorporated feedback from domestic industry players. In this regard, I would like to take this opportunity to extend Bank Negara Malaysia’s gratitude to many of you here who have provided invaluable feedback during the drafting of the Methodology Paper and reporting template. We truly appreciate the open and collaborative spirit extended by everyone, an approach that continues even up to today.

    Climate risk stress testing is still in its infancy globally. Therefore, we have strived to balance between pragmatism and accuracy when specifying our requirements. Where possible we have tried to work around data limitations, lack of technical expertise as well as under-developed modelling techniques. However, considerable challenges remain for financial institutions to successfully run this stress test. We will journey with you through these challenges. It is as much a learning experience for Bank Negara Malaysia as it is for all the financial institutions running the stress test. That is one of the reasons we are all here today at this workshop.

    I believe that together we can overcome many of the hurdles. Climate risk is a collective action problem. It may be in each individual’s best interests to act selfishly, regardless of what other individuals do. However, if all individuals act selfishly, then the outcome for everyone is worse than if we all cooperate. At the country level we see this playing out in global emissions reduction. A single small country may feel that spending money to cut emissions may do little for global climate change, and hence choose not to do so. However, such situation could lead to some other, or even all, countries, to opt not to cut emission, and thus, we will end up in a bad outcome globally and having the adverse impact of unattended climate risks being faced collectively.

    At the individual financial institution level, the development of new approaches and techniques for stress testing would be crucial for measuring the risk of climate change. However, if each entity chooses to keep their advancements proprietary, industry adoption will be slow. Collaboration and knowledge sharing is needed to scale solutions and reduce costs.

    Therefore, I am hoping that for the next few hours, we will all make a conscious choice to participate in these sessions with a generous heart and an open mind. I hope everyone will choose to collaborate rather than compete, to share rather than hoard. In this regard, I am encouraged by the collective efforts by the industry in undertaking capacity building initiatives to upskill the financial institutions and exploring potential solutions to bridge the data gaps. Commendable efforts by the JC3 Sub-Committee 1 and 4 in leading training initiatives and Sub-Committee 5 in producing and refining the Climate Data Catalogue exemplify this collaborative spirit.

    Ladies and gentlemen,
    Some of you have been asking, what’s next after this stress test? I’d like to address this in some detail.

    Important to note is that the climate stress test, or CRST for short, is not an end in itself. It should not be viewed as merely a regulatory compliance exercise. Although BNM does not intend for the results of the inaugural stress test to calibrate capital requirements, we do expect financial institutions to take this exercise seriously. I strongly advise financial institutions to already start planning for how the results of the stress test could be used to inform strategic planning and management decision making.

    CRST results are more than just numbers. They provide important insights into how climate risks could impact the business and operations of an institution. Hence, active engagement from senior management and the Board throughout the CRST journey – not just when the final results are available – will be crucial to the success of this first exercise. Financial institutions need adequate internal support to address the challenges they face, and this requires buy-in from the top throughout the stress test exercise.

    Additionally, as climate risks continue to evolve, we expect climate risk stress tests to be a recurring exercise moving forward. As such, it is imperative that financial institutions continuously invest in enhancing their stress test capabilities, particularly in areas such as data collection, methodology and model development. This ongoing refinement is essential to ensure that the CRST remains relevant and responsive to the ever-evolving nature of climate risks.

    Before I conclude, I want to emphasise the overarching objective of the Climate Risk Stress Test in safeguarding our financial system. Through CRST, we are not only strengthening our institutions’ resilience to climate-related risks but also building a solid foundation for long-term sustainability.

    This workshop today provides a great opportunity to kickstart meaningful conversations around CRST. The agenda has been carefully curated to promote deep learning and knowledge sharing, with a strong emphasis on practical applications and addressing real-world challenges in conducting the stress test. I encourage all participants to actively engage and share insights throughout the workshop.

    Let me end with the words of Sir David Attenborough “If working apart we are a force powerful enough to destabilise our planet, surely working together, we are powerful enough to save it.” I urge you to stay committed to this journey, continue collaborating, and share your experiences. While past and current actions and inactions created today’s climate problems, our generation must lead the way in fixing it for our children. I have every confidence in our sector’s ability to rise to this challenge and lead the way in building a climate-resilient financial system.

    With this, I wish you a productive workshop ahead. Thank you.

    MIL OSI Global Banks –

  • MIL-OSI USA: Justice Department Sues Visa for Monopolizing Debit Markets

    Source: US State of North Dakota

    Visa’s Exclusionary and Anticompetitive Conduct Undermines Choice and Innovation in Payments and Imposes Enormous Costs on Consumers, Merchants, and the American Economy

    The Justice Department filed a civil antitrust lawsuit today against Visa for monopolization and other unlawful conduct in debit network markets in violation of Sections 1 and 2 of the Sherman Act.

    Filed in the U.S. District Court for the Southern District of New York, the complaint alleges that Visa illegally maintains a monopoly over debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives.

    According to the complaint, more than 60% of debit transactions in the United States run on Visa’s debit network, allowing it to charge over $7 billion in fees each year for processing those transactions. The complaint further alleges that Visa illegally maintains its monopoly power by insulating itself from competition. For example, Visa wields its dominance, enormous scale, and centrality to the debit ecosystem to impose a web of exclusionary agreements on merchants and banks. These agreements penalize Visa’s customers who route transactions to a different debit network or alternative payment system. In so doing, the complaint alleges, Visa locks up debit volume, insulates itself from competition, and smothers smaller, lower-priced competitors. Visa also induces would-be competitors to become partners instead of entering the market as competitors by offering generous monetary incentives and threatening punitive additional fees. As the complaint alleges, Visa coopted the competition because it feared losing share, revenues, or being displaced by another debit network altogether.

    “We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” said Attorney General Merrick B. Garland. “Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service.  As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”

    Debit transactions are an important and popular part of the U.S. financial system. Millions of Americans prefer or must use debit for online and in-person purchases. Visa dominates debit network markets that facilitate these transactions, charging significant fees and stifling competition in the process. Visa’s systematic efforts to limit competition for debit transactions have resulted in billions of dollars in additional fees imposed on American consumers and businesses and slowed innovation in the debit payments ecosystem. Through this lawsuit, the Justice Department seeks to restore competition to this vital market on behalf of the American public.

    “Anticompetitive conduct by corporations like Visa leaves the American people and our entire economy worse off,” said Principal Deputy Associate Attorney General Benjamin C. Mizer. “Today’s action against Visa reminds those who would stifle competition rather than competing on price or investing in innovation that the Justice Department will never hesitate to enforce the law on behalf of the American people.”

    “Visa fears competition and innovation, and instead chooses unlawful cooperation and monopolization,” said Principal Deputy Assistant Attorney General Doha Mekki of the Justice Department’s Antitrust Division. “Visa abuses its power over its customers and buys off would-be rivals at the expense of American consumers, merchants, banks, and the competitive process itself. Today’s lawsuit holds Visa accountable for its conduct in a market that forms the backbone of American commerce.”

    Visa maintains enormous scale on both sides of the debit market — with merchants and their banks and with consumers and their banks — and the complaint alleges that Visa’s exclusionary practices extend, deepen, and protect what it refers to as an “enormous moat” around its business. When faced with the possibility that smaller debit networks or new technology entrants would threaten that position, Visa engaged in a deliberate and reinforcing course of conduct to cut off competition and prevent rivals from gaining the scale, share, and data necessary to compete for customers’ business:

    • Smaller Debit Networks: Visa uses leverage based on the large number of transactions that must run over Visa’s payment rails to impose expansive volume commitments on merchants and their banks, as well as on financial institutions that issue debit cards. These agreements are priced so that, unless all or nearly all debit volume runs over Visa’s payment rails, large disloyalty penalties can be imposed on all Visa transactions. Merchants cannot afford to use Visa’s smaller competitors for transactions where options do exist, even when those competitors offer lower per-transaction prices.
    • Tech Entrants: As Visa’s internal documents make clear, Visa feared that some technology companies and fintech startups with “network ambitions” would cut Visa out as the middleman between merchants, consumers, and their banks by offering a better or cheaper payment product. Visa aimed to stop that development by entering into agreements to pay potential competitors to partner instead of innovating. As Visa’s then-CFO put it: “Everybody is a friend and partner. Nobody is a competitor.”

    In 2020, the Justice Department filed a civil antitrust lawsuit to stop Visa from acquiring Plaid, a technology company that powers fintech apps developing disruptive options for online debit payments. The companies abandoned their planned $5.3 billion merger.

    Visa Inc. is a Delaware corporation headquartered in San Francisco. Visa has a global operating income of $18.8 billion and an operating margin of 64% in 2022. North America is among Visa’s most profitable regions with 2022 operating margins of 83%. Visa charges roughly $8 billion in network fees on U.S. debit volume annually. Globally, Visa processes $12.3 trillion in total payment volume.

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General Bonta’s Sponsored Bill to Ban Medical Debt from Credit Reports Signed into Law

    Source: US State of California

    Tuesday, September 24, 2024

    Contact: (916) 210-6000, agpressoffice@doj.ca.gov

    OAKLAND — California Attorney General Rob Bonta today issued a statement in response to Senate Bill 1061 (SB 1061) being signed into law by Governor Gavin Newsom. Authored by Senator Monique Limón (D- Santa Barbara) and cosponsored by the Attorney General, and many prominent advocacy organizations including the California Nurses Association, Health Access California, CALPIRG, Consumer Federation of California, and the National Consumer Law Center, SB 1061 will protect consumers from having their credit ruined by prohibiting medical debt from being reported on credit reports. Credit reports are meant to gauge an individual’s ability to repay future debt. Medical debt is often unforeseen and not a reliable indicator of financial risk, yet it can unfairly prevent consumers from getting loans, renting an apartment, or getting a job. This kind of debt on a credit report reflects the financial burden of illness, not an inability to manage finances, including payment of other bills, or posing a credit risk. 

    “When someone is scared and in pain, the last thing they should think about is whether seeking care will take away their ability to buy a house or land a job. Unfortunately, medical debt appearing on credit reports makes this a common experience for far too many people,” said Attorney General Rob Bonta. “California today chose to put a stop to this unnecessary and outdated practice. SB 1061 supports Californians’ fair access to essential economic opportunities and a brighter future.” 

    “I am proud to author legislation to provide relief to Californians suffering from the burden of medical debt,” said Senator Monique Limón. “No Californian should be unable to secure housing, a loan, or even a job because they accessed necessary medical care. California is stepping up to protect consumers impacted by the effects of medical debt.” 

    Medical debt continues to increase and is a barrier to employment, housing, and the promotion of healthcare access and equity. The Urban Institute reported 7.8% of California consumers with a credit report had a medical debt listed on it, increasing to 8.5% for Black Californians. People with medical debt are more likely to say debt has caused them to be turned down for a rental or a mortgage than people with student loans or credit card debt, increasing their risk of homelessness or being forced to live in substandard housing. Debt can also create barriers for finding employment as employers often use credit reports as a basis for hiring decisions, which in turn, makes it even more difficult to pay off medical debt. Many consumers are also forced to postpone important medical care due to medical debt, which may lead to further illness. In September 2023, the Consumer Financial Protection Bureau (CFPB) announced a rulemaking process to remove medical bills from consumers’ credit reports. In August 2024, Attorney General Bonta sent a letter to CFPB in support of the Bureau’s Proposed Rule which would prohibit the reporting of medical debt on credit reports. With the enactment of SB 1061, California now joins seven other states in supporting the CFPB and the Biden Administration by enacting state-level legislation against medical debt credit reporting. 

    # # #

    MIL OSI USA News –

  • MIL-OSI Translation: 24/09/2024 Varsovia Council of Ministers – aid for flood victims

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The government meeting took place today in a unique format. In the public part of the meeting, the ministers presented reports on the activities of their ministries in connection with the flood. El primer minister Donald Tusk announced that this formula will be in force during the next government meetings. Later in the meeting, the Council of Ministers adopted a draft act amending the Act on special solutions related to removing the effects of floods. Tomorrow the government will present information on its activities in the Sejm. In the afternoon, the head of government went to a meeting of the crisis staff in Wrocław. Concrete actions Today’s government meeting was devoted to the situation in southwestern Poland after the flood. In the public part, Prime Minister Donald Tusk asked ministers to present the activities of their ministries and propose specific solutions. “My intention is that each government meeting – in this dramatic time of flood and post-flood reconstruction – should begin with a specific report that should reach people immediately,” explained the head of government. The second part of the meeting of the Council of Ministers was devoted to the draft act amending the act on special solutions related to removing the effects of floods. “Para bromear 100 pages of amendments that will improve the existing law; they will make assistance easier and more flexible,” announced Donald Tusk. The government will be able to secure – together with European funds – up to PLN 23 billion for the “Reconstruction Plus” program. “It was very important for us to provide financing for aid and then reconstruction for the coming months and years – because some projects will last for many years,” the Prime Minister said. The government remains directly involved in supervising activities in the areas affected by the disaster – a meeting of the crisis staff will be held in Wrocław this afternoon. Los dos ministros se multiplican Internal Affairs and Administration The first information during the meeting of the Council of Ministers was presented by the Minister of Internal Affairs and Administration. Tomasz Siemoniak emphasized that the State Fire Service and the army are currently focusing on two goals. The first is to ensure safety in connection with the peak wave on the Odra River. “We are moving forces and resources, moving helicopters and various types of equipment, so that we have forces and resources in all places of danger – especially backwaters, seepage through embankments or water pouring through embankments in some places” – reported the head of the Ministry of Interior and Administration. The second priority is to support residents in restoring normal functioning in the affected municipalities. “Here we do not reduce our commitment in any way. As for the forces of the Ministry of Interior and Administration, the Bromear couple approximately 25,000. professional firefighters, volunteer firefighters and policemen,” said Tomasz Siemoniak. The police continue to ensure the safety of residents of flooded areas, including: guarding their property against looters, running mobile posts and providing psychological support. The Central Office for Combating Cybercrime is also carrying out intensified activities. It focuses primarily on the fight against disinformation and the practice of conducting false collections. “I am asking you to follow our announcements carefully. Please check carefully whether this is a fake collection. This is what we are trying to eliminate,” the Minister of Interior and Administration emphasized the importance of the problem. The Ministry of Interior and Administration cooperates with voivodes in the field of paying benefits to the injured. Nearly 20,000 families have already received such support. The aid is also organized by the Government Agency of Strategic Reserves, which has released funds in the amount of PLN 12 million and provides, among others, temporary housing. Ministrosdos of National Defense Prime Minister of National Defense Władysław Kosiniak-Kamysz reminded that from the very beginning, all the armed forces of the Republic of Poland were involved in the fight against the flood: land forces, air forces, navy, special forces and Territorial Defense Forces. “The lines of effort of the army: help and evacuation of the population, taking care of life and health – the most important thing is para bromear. The second thing is securing the embankments, strengthening them as the wave moves. The third issue is the tidying up of the area – matters related to cleaning, unblocking communication routes,” the Minister of National Defense listed the activities of the services subordinated to him. The army also got involved, among others: in the organization of the field hospital in Nysa and the disinfection process.  On Monday, September 23, the Feniks military operation began. “We immediately launched another operation – Operation Phoenix, aimed at reconstruction, returning to normality. In fact, it is about raising the level of reconstruction to an even better infrastructure than what was destroyed,” announced the head of the Ministry of Defense. The operation is scheduled at least until the end of the year. Soldiers will be present in areas at risk and affected by flooding until the effects of the flood are removed. The cost of Operation Feniks is estimated at approximately PLN 175 million. Our NATO and EU partners offer their help, for example by sending engineering teams to rebuild roads and bridges. “Para bromear is an expression of solidarity that Poland has always shown to countries in need,” noted the Minister of National Defense. El primer ministro Donald Tusk thanked for the information about offers of international assistance. “Good comes back in different situations, in different forms. We helped the Turks, we helped the Swedes not so long ago… The Greeks, of course, with forest fires. Today, the Swedes are sending us dehumidifiers, the Turks and Germans want to build bridges…” Poland will definitely benefit from the offer of help wherever it is useful. Ministrosdos of Digitization Primer Ministro y Ministro of Digitization Krzysztof Gawkowski presented, among others: actions his ministry took to launch satellite communications. 160 Starlink terminals were handed over to the State Fire Service, and 70 terminales – to the Police. The Ministry of Digitization also cooperates with mobile network operators to provide residents of disaster-affected areas with access to mobile networks. “We have gone from several tens of thousands of people cut off from the mobile network to less than a thousand” – político Krzysztof Gawkowski. Audit activities were commissioned to develop solutions that will avoid disconnection in similar situations in the future. The ministry cooperates with the Police in the fight against disinformation. Recently, increased hostile actions have been recorded on the Russian and Belarusian sides. 80-90% of this false content is removed as soon as it appears. Another important action is to launch flood alerts in the MObywatel application. Thanks to this, residents of individual voivodeships can quickly obtain information about the situation in the region. Citizens are also provided with information by the government-created website podz2024.gov.pl. Together with Prime Minister Donald Tusk, the Minister of Digitization decided to donate 16,000 laptops to the affected areas to be used by children. Ministrosdos Infraestructura El ministro Dariusz Klimczak announced that all roads in Lower Silesia have already been made passable. The situation is worse in the Opole Voivodeship. The head of the ministry reported, among others, from activities aimed at rebuilding the bridge in Głuchołazy. The section of the Kłodzko Główny – Kłodzko Miasto railway route is still impassable.  “We anticipate that we will clear traffic on this section by September 30,” Dariusz Klimczak reported the good news. The railway organizes detours on some sections. We appeal to travelers to
    analyze the information provided by carriers. The head of the Ministry of Infrastructure provided detailed data on alarm and warning states, meteorological and hydrological warnings and the condition of reservoirs. He paid particular attention to hydrological warnings against third-degree floods for the Lubusz, West Pomeranian, Lower Silesian and Greater Poland voivodeships. Ministrosdos of Finance El ministro Andrzej Domański reminded that his ministry had secured PLN 2 billion in the state budget for the implementation of the most urgent aid tasks related to combating the effects of the flood and was working to increase this amount.  “We regularly issue decisions activating funds for voivodes, including the payment of flood benefits. We are also working together with the local government to provide direct assistance to the affected municipalities. We have, among other things, funds at our disposal from the reserve in the amount of PLN 738 million. The decision on the division of this reserve will be made together with the local government,” said Andrzej Domański. They can count on support, among others: borrowers whose mortgage obligation will be taken over by the state for 12 months, as well as entrepreneurs – it is possible, for example, to apply for a waiver of tax liabilities. Ministros dos Funds and Regional Policy The Ministry of Funds and Regional Policy, in accordance with the Prime Minister’s instructions, carried out a comprehensive review of the Cohesion Funds.  “Up to several billion zlotys can be transferred for reconstruction and resilience purposes,” informed Minister Katarzyna Pełczyńska-Nałęcz. The ministry she manages is creating a new priority within the Cohesion Funds. Dedicated to Bromea Sobre rebuilding in flooded areas and at the same time building resilience to such events. “These will be funds for energy infrastructure, water and sewage infrastructure, road infrastructure, but also funds for private beneficiaries, supporting budget funds for the reconstruction of houses that were destroyed during the flood,” said the Minister of Funds and Regional Policy. The process of redirecting funds is consulted with local government officials from flood regions. Ministry of Climate and Environment Led by Minister Paulina Hennig-Kloska, the ministry clima observes, among others, the situation of environmental infrastructure and the state of groundwater. The State Geological Service has introduced a state of hydrogeological threat for the period from September 17 to 30 for the Lower Silesian and Opole voivodeships and the southern parts of the Lubuskie and Greater Poland voivodeships. The Ministry of Climate and Environment directed resources and forces to post-flood areas, thanks to which the number of households without access to electricity significantly decreased.  “1,738 customers remain without electricity. At its peak there were almost 80,000 households. The biggest problem in this respect is still the Lower Silesian Voivodeship,” said Paulina Hennig-Kloska. At the request of the Ministry of Climate and Environment, the Council of Ministers adopted an amendment to the regulation on the state of natural disaster, which is intended to facilitate the removal of waste from areas affected by flooding. The ministry also launched subsidies for local governments for the purchase of, among others, aggregates, pump, dryers. Ministry of Family, Labor and Social Policy Agnieszka Dziemianowicz-Bąk, the Minister of Family, Labor and Social Policy, reminded what the activities of her ministry focus on. “While the ministries and services directly involved in the fight against the element are putting a stop to it, we at the Ministry of Family, Labor and Social Policy have been looking from the very beginning where the wave is already receding, where the water is receding and where the people of the flooded areas need immediate, urgent social assistance and financial assistance” – emphasized Agnieszka Dziemianowicz-Bąk. The total funds paid for these benefits are 100 million 409 thousand. PLN. This number is still growing. The Ministry of Family, Labor and Social Policy has facilitated access to aid by simplifying the form for flood victims. The application may be submitted orally, and the entire procedure works according to the so-called one window. Social workers often come to injured people themselves.  El primer ministro Donald Tusk thanked Minister Agnieszka Dziemianowicz-Bąk for the initiative to introduce paid leave for those who clean the homes of their loved ones. “A couple of pretty obvious help. Everyone who gets involved and devotes their time, is not at work, but helps their loved ones and family in drying, cleaning, pumping water, etc., will be able to count on state support,” assured the Prime Minister. A provision on this form of assistance will be included in the draft bill developed by the government. Minister of Health Izabela Leszczyna announced that the main task of her ministry is to provide residents of flooded areas with access to medical services. Ministrosdos has launched 3 hotlines. “One, the general one, where the patient can find out where the nearest clinic is, where the nearest pharmacy that has not been flooded is; where to go for help. And two more hotlines that concern people in mental health crisis – separately for adults and separately for children and adolescents,” explained Izabela Leszczyna. Psychological and psychiatric help also reaches flood victims through the mobile center. The Minister of Health thanked the employees of all hospitals and clinics who are showing great commitment during the crisis. The hospital in Nysa is at the stage of drying and disinfection. “There is great determination of the employees of the local community, the starosta of Nysa, to open this hospital. Both the Ministry of Health and the National Health Fund absolutely support these efforts,” emphasized the head of the ministry. The State Sanitary Inspection focuses on collecting water samples, conducting laboratory tests and issuing disinfectants.  Anyone can call the district sanitary and epidemiological station to ask for water testing or help with disinfection. Minister of Agriculture and Rural Development Adam Nowak, Deputy Minister of Agriculture and Rural Development, informed that according to data collected by the Restructuring Agency, 4,318 farmers who had a registered farm number were affected by the flood. “In accordance with the Prime Minister’s instruction to ensure that this assistance is quick and well-addressed, the first program will be support of approximately PLN 5,000 for a hectare of field containing unharvested agricultural produce, unharvested cereals – mainly corn, partly also soybeans, corn, potatoes and sugar beets” – Adam Nowak presented one of the proposals to help farmers. The ministry will also support farmers, among others: ensuring the possibility of remission of rents for arable land, exemption and remission of social security contributions in KRUS, and compensation for cereals and other agricultural produce that came into contact with flood waters. Another solution is quick advance payments for direct payments to farmers from flood-affected areas. The Minister of Agriculture, Czesław Siekierski, requested the European Commission to activate the crisis reserve at the disposal of the Commissioner for Agriculture, and also asked voivodes for support in initiating the work of estimating commissions.  Ministrosdos of National Education Thanks to the determination of school principals and teachers, currently only 63 institutions have suspended classes. Remote teaching is conducted in 9 schools.  “In no case is the safety of the educational course of children and young people at risk at this time. All exams and all activities will take place as planned,” assured Barbara Nowacka, the Minister of National Education. Affected schools have formal and legal options to organize classes in other places. The Ministry of Education has prepared a number of supports for those affected. “To meet
    the needs reported by teachers and parents, we organize green schools for children from flood areas. There is a special website at zielonaszkoly.gov.pl with a 24-hour hotline where you can report schools that need help and appropriate assistance. Currently, nearly 850 people have registered – students from schools in flood areas – and are ready to leave,” said Barbara Nowacka. The Ministry plans to extend the program until the holidays. There is a special telephone line of the Ministry of National Education for psychological support. More than 40 psychologists provide assistance around the clock. The ministry, headed by Barbara Nowacka, also coordinates the “Schools for Schools” project, under which willing school communities in the country can support students and institutions from flood-affected areas.  Ministros dos Sportu i Turystyki El Ministro Sportu i Turystyki Sławomir Nitras presented information on the forms of support prepared by his ministry. The Ministry will allocate funds for the reconstruction of sports infrastructure, especially school facilities, as well as public and tourist facilities – tourist trails and parks. 50 millones de was secured to support tourist institutions and enterprises that suffered losses due to the cancellation of their stay or the impossibility of carrying it out. “We have secured 2 million PLN in the tourist budget for a program to promote Lower Silesia as a safe place for organizing tourism,” declared Sławomir Nitras. The resort will also support sports clubs.  The government’s plans for the coming days. Today, the Prime Minister will take part in a meeting of the crisis staff in Wrocław. During Wednesday’s session of the Sejm, the government will present information on actions in the flood-affected areas. On Thursday, the first reading of the special act that was discussed by the Council of Ministers should take place in the Sejm. . So I am asking for full mobilization,” the Prime Minister asked the politicians. The head of government thanked the heads of ministries for urgently preparing legislative projects and announced the next meeting of the Council of Ministers, which will be held next Saturday.

    MILES AXIS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

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  • MIL-OSI Translation: 24/09/2024 Meeting of Undersecretary of State Paweł Karbownik with the delegation of the World Bank Group

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    Meeting of Undersecretary of State Paweł Karbownik with the delegation of the World Bank Group24.09.2024

    On September 24, 2024, Deputy Minister of Finance Paweł Karbownik met with a delegation from the World Bank, led by Anna Akhalkatsi, Director for EU countries at the World Bank, and Ines Rocha, Regional Director for Europe at the International Finance Corporation (IFC). The conversation focused on current cooperation with the Bank and plans for the near future. The participants discussed cooperation in flood protection and water retention projects in Poland. In particular, the conversation focused on a new investment project in flood and drought prevention, which is to be co-financed by a World Bank loan. The Bank representatives also presented the assumptions of the new cooperation strategy with Poland for 2025-2029. As noted by Deputy Minister Paweł Karbownik, increasing the competitiveness of the Polish economy, energy transformation and adaptation to current challenges, including severe climate phenomena, create the basis for further cooperation with the World Bank Group. The discussion also concerned the Climate and Development Report (CCDR) for Poland, which the Bank plans to publish in early November 2024. This document will be an important point of reference for future actions in the field of sustainable development and combating climate change.

    MILES AXIS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI USA: Tiffany Demands Answers and Transparency on Madison Duplicate Ballots

    Source: United States House of Representatives – Representative Tom Tiffany (WI-07)

    How was the error discovered, what ward(s) were impacted, and who is responsible for the error?

    WASHINGTON, DC – Today, Rep. Tom Tiffany (WI-07) sent a letter to the City of Madison Clerk Maribeth Witzel-Behl requesting answers on how people in Madison were sent duplicate absentee ballots. This comes after recent reports say that “around 2,000” duplicate ballots have been sent out by the Madison Clerk’s Office.

    Given the history of controversial and legally dubious election practices carried out by Madison officials in the past, including Maribeth Witzel-Behl’s personal history as an operative for the left-wing, “Zuckerbucks” financed Center for Tech and Civic Life, Rep. Tiffany demands transparency on how an “error” of this magnitude was allowed to happen at such a pivotal time.

    In the letter, Tiffany demands answers on:

    • How was this “error” discovered?

    • Has the Clerk’s Office contacted law enforcement to investigate whether this “error” was the result of simple incompetence or a deliberate nefarious act?

    • Has the Clerk’s Office identified what person or persons are responsible for this “error”?

    • Has the Clerk’s Office taken steps to preserve all emails, internal communications, handwritten notes, and other records related to this “error”?

    • What is the exact number of duplicate ballots that were sent out by the Clerk’s Office?

    • The Clerk’s Office claims that this “error” affected voters in only one ward. Which ward was it?

    • Has the Clerk’s Office received any reports of duplicate ballots in other wards, or conducted any due diligence to ensure that this “error” was limited to just a single ward?

    • Have any of these duplicate ballots been returned to the Clerk’s Office, and if so, have they been set aside pending an investigation?

    • The Clerk’s Office has claimed that the duplicate ballots have unique bar codes. Are these unique ballot bar codes linked to individual, identifiable voter profiles?

    To read the full letter, click here.

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    MIL OSI USA News –