Category: Education

MIL-OSI United Kingdom: Council Cabinet nears final decision on primary school closures 26 February 2025 Isle of Wight Council Cabinet nears final decision on primary school closures
Source: Aisle of Wight

The Isle of Wight Council is moving to the next stage in the process relating to the proposed closure of five primary schools, driven by a significant decline in pupil numbers and the need to address surplus places.

After a further public consultation on school places, which ended on 3 February, a report published today (Wednesday) recommends these closures to tackle more than 2,300 empty primary school places across the Island.

The proposals will be discussed, and a final decision will be made at the next Cabinet meeting on Thursday, 6 March 2025.

Councillors are being asked to consider the following recommendations:
- The closure of Cowes Primary School, Arreton St Georges CE Primary School, Brading CE Primary School, Wroxall Primary School, and Oakfield CE Primary School, all effective from 31 August 2025.
- The creation of a 12-place primary resourced provision for children with Autism Spectrum Condition (ASC) at The Bay CE School (Primary).
These decisions are part of the council’s plan to improve education for all children on the Island in line with its draft education strategy published last summer.

The Island currently has space for 10,724 primary-aged children. As of November 2024, there were 2,311 unfilled school places, up from 1,898 in October 2023.

Schools affected by infant class size rules face particular challenges, as they may have limited ability to save money by changing staffing structures or the use of physical space.

For example, a school with an intake of 60 that only admits 32 pupils must still employ two teachers and maintain two classrooms, even though the budget for that year group may have nearly halved.

Councillor Jonathan Bacon, Cabinet member for children’s services, said: “Nobody proposes the closure of a school lightly, but the number of births on the Island has now reached its lowest level since 1941.

“In 2028, only 890 children will start reception, 514 fewer than started in September 2018. The overall number of primary pupils is forecast to decrease from 9,300 in 2017 to 7,640 in 2027 — the second largest decrease in pupil numbers across the country.

“Our goal is to provide schools that deliver high-quality education and are financially sustainable. While some surplus places provide flexibility, too many can severely impact schools’ finances.

“Schools are funded based on pupil numbers, and fewer pupils mean less funding. For primary schools in 2025/26, this equates to about £4,887 per child per year. If a class with a capacity for 30 pupils only has 20, this results in a potential loss of £48,870 per year.

“The current number of primary school places is unsustainable, leading to inefficient use of resources. By reallocating these resources, we can better focus on improving educational outcomes for local children.

“The council must consider the needs of the children, both now and in the future, when making its final decision on how to address the oversupply of places.

“Our children are the future, and we need a workforce that can adapt and innovate. A high-quality education is essential for building a better future.

“The recommendations in this report offer the best chance for long-term educational improvement and financial stability for schools.”
MIL OSI United Kingdom –
February 27, 2025
MIL-OSI USA: Grassley Opening Statement on DOJ Nominees John Sauer, Harmeet Dhillon and Aaron Reitz

US Senate News:

Source: United States Senator for Iowa Chuck Grassley
Opening Statement by Senator Chuck Grassley of Iowa
Chairman, Senate Judiciary Committee
Wednesday, February 26, 2025
Good morning. I’d like to welcome everyone to this hearing to consider the nominations of John Sauer to serve as the Solicitor General, Harmeet Dhillon to serve as the Assistant Attorney General for the Civil Rights Division and Aaron Reitz to serve as Assistant Attorney General for the Office of Legal Policy.
Before I turn to my opening statement, I’ll explain how we’re going to proceed today.
I’ll give my opening remarks, and then I’ll invite Ranking Member Durbin to give opening remarks. Then, I’ll call on Senators Lee, Cruz, Hawley and Schmitt to introduce the nominees. After that, the nominees will have a chance to give an opening statement to the Committee.
Following the statements from the nominees, we’ll proceed to a single, five-minute round of questions. I ask Members to do their best to adhere to these time limits, so that we can proceed efficiently with the hearing.
With that, I’ll turn to my opening remarks.
Our three nominees have been tapped to serve in important roles in the Department of Justice. Congratulations on your nominations. If confirmed, your work will impact the lives of millions of Americans.
Each of you has impressive qualifications, and we’re looking forward to hearing from you. I’d like to thank your family and friends for coming today. I know they’re all very proud of you.
I’ve said many times that the Department of Justice is at an inflection point. Over the last four years, public trust in the Department has declined, and many Americans feel like the justice system doesn’t work for them.
If confirmed, we expect you to work with Attorney General Pam Bondi to fulfill her promise to turn things around.
Mr. Sauer, you’re particularly well suited to serve as the nation’s chief appellate lawyer. You started your career clerking for Justice Scalia, one of the legal giants of our time. Justice Scalia spent his life teaching lawyers to faithfully interpret the law and Constitution according to its original meaning. I’ve no doubt that you learned this lesson well.
After clerking and a stint in private practice, you left D.C. behind to go home and serve as an Assistant United States Attorney in Missouri. You worked diligently to prosecute criminals and to keep your community safe.
In 2017, you joined the Missouri Attorney General’s Office as the Solicitor General, where you served under two members of this Committee, Senator Hawley and Senator Schmitt. Serving as a state’s chief appellate officer during the COVID pandemic and across two presidential administrations undoubtedly prepared you for the role you will walk into if you are confirmed.
There’s a lot of work to be done defending our nation’s laws, and I know you’re prepared to take it on.
Ms. Dhillon, you’re one of the nation’s foremost experts on civil rights. Your journey started a long way from here, when your family immigrated from India. You went to Dartmouth at the tender age of 16, and then went to law school at the University of Virginia.
Throughout your career, you’ve never shied away from unpopular but just causes. You served as the Director of an ACLU chapter after 9/11, a group many on my side are often skeptical of. You also started your own law firm and founded a non-profit. You’ve litigated some of the most important cases on free speech, religious liberty, voting rights and discrimination.
Discrimination is wrong. Our Constitution and our civil rights laws do not tolerate discrimination on the basis of race, as the Supreme Court recently made clear in the Students for Fair Admissions cases.
Unfortunately, the Biden administration not only allowed discrimination to take place, but openly encouraged it. Under the name of “Diversity, Equity, and Inclusion,” the Biden administration imposed a nationwide regime of discrimination, and the Civil Rights Division completely failed to enforce our nation’s laws. President Trump has put an end to this and, if confirmed, I trust that you’ll work to help him execute on his promise.
Americans don’t pick winners and losers based on the color of their skin, their sex or the name of their God.
Ms. Dhillon, you’ve fought for everyone to be treated equally. You fought against colleges shutting down free speech for political reasons, against states restricting freedom of worship and against big tech companies engaged in censorship. You’ve won many victories defending freedom and our constitutional rights. If confirmed, we’ll need your continued leadership to protect the civil rights of all Americans.
Our side of the aisle doesn’t spend much time talking about people’s personal characteristics. We care about character and merit. But in addition to your qualifications, your background makes you particularly suited to return the Justice Department to its proper role of enforcing our civil rights laws and ending discrimination.
You’re an immigrant, a religious minority, a woman, a business owner, a civil rights leader, an accomplished lawyer, and, I’ve learned, an excellent knitter. You’re an example of what is great about America.
Mr. Reitz, you have an impressive and dedicated career of service to our country. You attended college at Texas A&M University on an ROTC Scholarship and honorably served our country as a United States Marine, including a tour in Afghanistan.
Upon your return from Afghanistan, you attended law school at the University of Texas, where you excelled.
After a time in private practice, you decided to serve your country again. You clerked for the now-Chief Justice of the Texas Supreme Court. Then you ran for a seat in the Texas House of Representatives and campaigned on issues that you believed in. You continued gaining legal experience during this time in private practice.
You eventually joined the Office of the Attorney General of Texas as Deputy Attorney General for Legal Strategy. In that role, you were involved in some of the office’s most impactful litigation during the Biden administration. You fought to secure the border, hold Big Tech accountable, protect the integrity of the ballot box and promote conservative social values.
Today, you continue to serve Texas and your country as a member of Senator Cruz’s staff. You are currently his Chief of Staff, and I think I won’t offend my colleague when I say that this is no easy job. This is particularly true because you continue to serve in the Marine Corps Reserve, where you actively drill with your unit and hold the rank of Major. Your relentless work ethic and love of country are obvious.
In short, the three nominees before us have impressive careers and life stories. I look forward to hearing from them today.
With that, I’ll turn to Ranking Member Durbin for his opening remarks.
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MIL OSI USA News –

February 27, 2025
MIL-OSI United Kingdom: Stuart Road Primary to make Safer School Streets permanent

Source: City of Plymouth

Stuart Road Primary Academy will be the first school in Plymouth to make traffic restrictions during morning and afternoon drop-off and pick-up times permanent, following a successful 18-month trial.

The ‘Safer School Streets’ measures improve safety for all road users, make it easier for families to walk, cycle or scoot to school and create a healthier street environment with cleaner air, by closing roads to school-run and through traffic during these peak times.

They were widely welcomed by parents and local residents when they were introduced by Plymouth City Council in partnership with Sustrans in 2023. Surveys carried out by Sustrans have shown that the number of children walking to the school has increased by 37 per cent and those being driven to school has fallen by 45 per cent since the scheme was put in place.

Councillor John Stephens, the Council’s walking and cycling champion, said: “The school, parents and nearby residents called on us to put these closures in place due to inconsiderate and dangerous parking and we are really pleased they have had a positive impact.

“We work hard to encourage families to leave the car at home where possible and promote active travel (including schemes such as walk and stride and walking buses). Making sure local roads and footways are safe and accessible is a huge part of this.

“We have also made a commitment to create cleaner, greener streets and reduce our carbon emissions.

“Safer School Streets are a great way to reduce congestion and improve air quality around the school gates, make school journeys safer and healthier and tackle some of the school-run traffic issues experienced by neighbours. We hope other schools trialling these measures will see similar success.”

Headteacher Britta Nicholls said: “Staff, pupils and parents are thrilled that after several years of campaigning, we finally have permanent road closure status. This means that families can safely walk, scooter or cycle to Stuart Road Primary for daily drop off and collection without the fear of vehicles.

“This move also underpins the school’s healthy lifestyle commitment through encouragement of daily exercise by walking to school instead of using a car. Through the reduction of vehicle usage during busy school times, families benefit from reduced air pollution and enjoy the social advantage of walking to school in groups.

“We would also like to say a huge thank you to Sustrans for their tireless support and championing Stuart Road’s campaign for safer school streets with a fantastic end result.”

Every weekday during term time, the road outside the school (Palmerston Road) is closed from 7.50am to 8.50am and then from 2.45pm to 3.45pm. There will be no changes to these timings.

Families are encouraged to walk, cycle or scoot to school or, if they need to drive to work, to ‘park and stride’ – where they park a five or 10 minute walk from the school and go the rest of the way by foot.

Access is maintained for local residents and businesses, parents and children with disabilities, the emergency services, deliveries and other service vehicles.

The measures have been trialled for 18 months under an Experimental Traffic Regulation Order. The permanent Traffic Regulation Order will be advertised in the local press and on street. The school community and local residents are being made aware the scheme is being made permanent.

The decision was signed today and can be viewed on our decisions page. It may be subject to call-in for scrutiny.

For more information see our Safer School Streets page or visit the School Streets website.

MIL OSI United Kingdom –

February 27, 2025
MIL-OSI USA: Getting to the ‘heart’ of precision medicine

Source: US State of Connecticut

Many assume that Travis Hinson, M.D. of UConn Health/JAX is a surgeon, someone who spends his days repairing defects and abnormalities of the human heart. In a way, they’re not entirely wrong.

As a clinical cardiologist and scientist specializing in inherited cardiovascular diseases, Hinson operates at the molecular level. Instead of surgical tools, he employs what he calls “molecular scissors” — cutting-edge genetic techniques that go beyond identifying mutations linked to heart failure, enabling their repair. His ultimate goal is to develop targeted treatments tailored to each patient’s unique genetic makeup.

“My work is about fixing genetic problems early, so surgery is never needed,” he explained.

Hinson holds a joint faculty appointment as an associate professor at The Jackson Laboratory and serves UConn School of Medicine as the Jim Calhoun Endowed Associate Professor of Cardiology and Genetics at UConn Health and its Calhoun Cardiology Center. When he’s not seeing patients, he’s in his JAX laboratory, using mouse and human stem cell models to unravel the genetic mechanisms behind heart failure.

His research embodies the core promise of precision medicine: developing customized therapies with higher success rates and fewer side effects than traditional treatments.

From engineer to physician
Growing up in Louisiana, Hinson was surrounded by mentors who worked as engineers in the petroleum industry. He initially followed in their footsteps, launching his early career as a chemical engineering intern at DuPont. There, he helped produce chemicals that contributed to cleaner energy and safer construction materials. However, he soon realized that he wanted to do more than just produce these materials at scale — he wanted to help discover them.

Driven by this curiosity, Hinson pivoted to medicine where potential discoveries could more directly impact human health, earning his medical degree from Harvard University. Yet his engineering mindset remains central to his approach to human health.

“I think about practicality,” he said. “An engineer might discover a chemical that makes paint safer or a car run cleaner. What if I could make a discovery that helps people live longer and feel better?”

That question fuels his research into gene-based treatments for heart failure, a condition affecting more than seven million Americans and the leading cause of death among adults.

Dr. Travis Hinson speaking with a patient at the Calhoun Cardiology Center at UConn Health (Photo by JAX/Cloe Poisson).

A personal approach to saving lives
Hinson’s work in the clinic continues to affirm his commitment to transforming human health. Some of his most rewarding experiences have involved using genetics to “solve the puzzle” of complex medical cases that had stumped other doctors. In one instance, his team identified a genetic mutation responsible for dilated cardiomyopathy within a large extended family. This discovery enabled them to screen and proactively treat multiple family members — many of whom had no symptoms yet — potentially saving their lives.

“It started with one patient and one discovery, but it ended up impacting hundreds of people across the country,” he said.

Looking ahead: The future of precision medicine
At JAX, Hinson is excited to continue developing targeted therapies for heart failure, aiming to correct the genetic mutations underlying the disease. He hopes to soon advance these therapies to first-in-human trials at UConn and is eager to build a team of like-minded researchers and clinicians dedicated to making a difference.

His work could also have broader implications, extending beyond heart failure to other diseases affecting organs like the brain, liver and lungs, which share similar genetic and pathological features.

“It’s thrilling to identify a problem before a patient even knows they have it,” he said. “And even more rewarding to offer them a treatment that could save their life.”

MIL OSI USA News –

February 27, 2025
MIL-OSI USA: King, Moran Bill Fights Housing Shortage by Encouraging Homeowners to Expand, Build Properties

US Senate News:

Source: United States Senator for Maine Angus King
WASHINGTON, D.C. — U.S. Senators Angus King (I-ME) and Jerry Moran (R-KS) are introducing bipartisan legislation to make it easier for rural workers to live in the communities they serve, as well as address the housing shortage across the nation. The Farmhouse-to-Workforce Housing Act would expand the existing Housing Preservation Grants (HPG) program so rural home owners can create more housing on their property — such as an attached apartment unit or a small home nearby — to be available for rent. Currently, HPGs are underutilized and receive limited funding that only covers small costs and repairs. This legislation would enhance the program for rural housing creation by increasing its funding and expanding eligibility for homeowners who want to participate.
The housing crisis has risen dramatically in recent years. A 2023 study found that Maine is now short more than 80,000 homes, in both urban and rural communities. The study also found Maine faces serious challenges including historic underproduction, aging housing stock, future need, lack of affordability, workforce decrease and a high demand for seasonal homes. The Farmhouse-to-Workforce Housing Act would make it easier for Maine people in rural areas to access housing in the communities where they work.
“Communities all across Maine and the nation are facing a serious housing shortage,” said Senator Angus King. “Unfortunately, one law we can’t repeal in Congress is the law of supply and demand. And right now our rural communities, in particular, are up against a short supply problem coupled with serious demand — leaving many people without a place to live that is affordable or close to their community. It’s a pleasure to work with Senator Moran of Kansas — who knows all too well the challenges rural communities face — on the Farmhouse-to-Workforce Housing Act. This bipartisan, commonsense effort is another step toward combating the housing crisis and ensuring Maine people can live where they work. By making it more affordable for folks to renovate their homes, or build news one, we can help offset the rural housing shortage.”
“There is a high demand for rural housing across Kansas, and it’s important that our housing programs offer creative solutions to address this issue,” said Senator Moran. “Modernizing the Housing Preservation Grants program will help create new avenues for renovating and constructing homes in smaller communities across the country.”
Specifically, the Farmhouse-to-Workforce Housing Act would:
Allow recipients to use HPG money to construct additional housing units either within or outside their home.
Authorize funding for the nationwide program at $200,000,000.
Offer grants of up to $100,000 to low-or medium-income recipients.
Require the original home to be 25 years or older.
Established a required landlord education program to help homeowners learn how to oversee rental housing.
Create a five-year ownership and occupancy requirement upon completion to prevent homeowners from flipping their property at increased values and prevent developers from taking advantage of the program.
Senator King has long been committed to ensuring Maine people across the state can access safe and affordable housing, as well as working with his colleagues on creative solutions to combat the housing shortage. He recently introduced the bipartisan Affordable Housing Credit Improvement Act to create nearly two million new affordable homes across the country — including thousands in Maine. He also worked with his Republican colleagues to improve affordability of rural homes and farms through the Access to Credit for our Rural Economy (ACRE) Act of 2023. Additionally, he has worked to expand affordable workforce housing on Mount Desert Island to support the economic development surrounding Acadia National Park. Last year, he co-sponsored bipartisan legislation to expand affordable housing availability in Maine through redevelopment of historic buildings. He also introduced the bipartisan HELPER Act to unlock home ownership for first responders and teachers, and introduced the Manufactured Housing Community Sustainability Act to encourage manufactured home park owners interested in selling their properties to sell to residents rather than developers.

MIL OSI USA News –

February 27, 2025
MIL-OSI Global: From sunscreen to essential oils, why some personal care products could be harmful to your health

Source: The Conversation – UK – By Asit Kumar Mishra, Research Fellow in School of Public of Health, University College Cork

RomarioIen/Shutterstock

Each time you apply sunscreen to your face, you may inhale somewhere between 10 to 30 milligrams of ethanol, the type of alcohol used in alcoholic drinks. While the ethanol in sunscreen may not give you a buzz, it could make you think about what other chemicals you might be exposed to from personal care products.

Products that are applied to the face, like sunscreen, can increase the inhalation of some chemicals by ten times or more than you would inhale from your home air in the entire day.

The levels of ethanol in cosmetics and skincare products may be reasonably safe – although it can still dry out the skin, causing pain, redness and swelling, and irritate the eyes, causing tears, burning and stinging – but personal care products such as shampoos, skin creams, deodorants, cosmetics and perfumes contain fragrances and other volatile organic compounds (VOCs), which can be inhaled, absorbed through skin or ingested and some are more toxic than others.

Unfortunately, manufacturers of personal care products do not have to disclose every fragrance compound used. This is concerning when you consider the potential effects of toxic compounds that have been detected in the air from personal care products. For example, hair-smoothing products have released formaldehyde, a toxic chemical that can cause a range of symptoms from dermatitis to low sperm count. Some perfumes and deodorants have generated monoterpenes, chemicals which can prove toxic for some users.

Some of the VOCs found in personal care products may trigger skin irritation, headaches – and difficulty breathing, which can develop into an asthma attack in some users. The highest or peak concentration of these VOCs are likely to occur within ten minutes of application. But these concentrations may take up to two hours to decrease to background levels, depending on your home’s ventilation.

Natural doesn’t mean risk free

But even if the levels of VOCs in personal care products are kept within safe limits, they can still cause discomfort and a variety of health issues, including irritation of the eyes and airways, migraines and asthmatic reactions, in those who’re fragrance sensitive. In the UK, 27% of the population self reports as fragrance sensitive.

It makes sense then that some people attempt to avoid potentially toxic synthetic chemicals in cosmetics by opting for “natural” or “clean” personal care products. But, natural does not mean safer.

For instance, essential oils are often used in “natural” personal care products as fragrance. Essential oils, though, are a source of terpenes, some of which can be toxic if absorbed, inhaled or swallowed.

Indoor concentration of terpenes are often at levels where you can smell them but not high enough to cause eye or respiratory tract irritation. However, the terpenes from essential oils can react with other chemicals, such as ozone from outdoor air, producing byproducts like formaldehyde, a known carcinogen and allergens.

Beauty salon safety

Beauty salons can be particularly risky environments for exposure to VOCs. Studies have found contaminants such as formaldehyde, ammonia and toluene, a potentially harmful ingredient used in many personal care products, at high levels in salons, putting staff who work there at the highest risk.

Formaldehyde levels in some salons have reached above safety limits. Methyl methacrylate, which can cause skin irritation, allergic reactions and potential respiratory issues has been detected in the air of nail salons.

These contaminants are not necessarily limited to the places in a salon where a certain product is being used. Beauty salons with poor ventilation are likely to expose workers and customers to much higher levels of contaminants. Some of the components of personal care products are known, harmful contaminants and carcinogens.

Regulations specifically related to ventilation in environments where large volumes of these products are used do reduce exposures. For instance, studies show that after ventilation regulations came into effect in Boston, US in 2011, the air quality inside nail salons improved.

When visiting your nail salon or hair stylist, check with them about their ventilation system and other steps they are taking to reduce exposure to VOCs.

To limit exposure to potential VOCs at home when using personal care products, try to open windows and use extractor fans in wet rooms. Be especially careful when applying products to the face or when using a high temperature application – high temperatures can increase emissions.

Asit Kumar Mishra is a DOROTHY co-fund Fellow and Marie Skłodowska-Curie Fellow and receives funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Skłodowska-Curie grant agreement No 101034345.

– ref. From sunscreen to essential oils, why some personal care products could be harmful to your health – https://theconversation.com/from-sunscreen-to-essential-oils-why-some-personal-care-products-could-be-harmful-to-your-health-248273

MIL OSI – Global Reports –

February 27, 2025

MIL-OSI: WENDEL: 2024 Full-Year Results: a very active year, a dual model in place, strong value creation & a growing return to shareholders

Source: GlobeNewswire (MIL-OSI)

2024 Full-Year Results: a very active year, a dual model in place, strong value creation & a growing return to shareholders

Fully diluted¹ Net Asset Value per share of €185.7,
representing a +16.9% year-over-year value creation, adjusted for the dividend paid

Dividend boosted at €4.7 per share, up +17.5% year-over-year

Strong portfolio rotation: more than €2 billion of capital reallocation

Significant expansion of the Asset Management platform in Europe and US, and development of our dual business model towards more recurring cash flows and growth

Fully diluted Net Asset Value²as of December 31, 2024: €185.7 per share, up +14.4%

Value creation of +16.9%³ over 2024, adjusted for the €4 dividend paid in May 2024 reflecting:
- The increase in Bureau Veritas’ share price (+28.3% YoY) on the back of the quality of its LEAP | 28 strategic plan
- The changes in the valuation of unlisted assets, on a like-for-like basis, in line with their respective operating performances and multiples, and active management of private principal investments to create long term value through repositioning and accretive bolt-ons (Stahl, Scalian, and CPI).
- The strong growth of IK Partners’ FRE to €69.9 million, above estimates (€60 million). IK Partners’ AuM up +24% in 2024, totaling €13.8 billion, with €3.4 billion raised.

Delivering strong and recurring returns to shareholders, in line with the strategic roadmap published in 2023

Ordinary dividend of €4.70 per share for 2024, up +17.5% compared to 2023, to be proposed at the Annual Shareholders’ Meeting on May 15, 2025, representing slightly above 2.5%⁴ of NAV and a 4.8%⁵ yield vs share price as of February 21, 2025. This dividend level takes into account the first partial integration of Asset management activities into Wendel in 2024, which will be mechanically higher in 2025.
€100 million share buyback launched in October 2023 completed in July 2024. €92.5 million share bought back in 2024.

Very active investment activity & capital allocation

Principal Investments:
- €2.3 billion proceeds and value crystallization
- €0.7 billion invested including €0.6 billion in Globeducate
Asset Management:
- €0.4 billion invested for the acquisition of 51% of IK Partners
- $1.13 billion will be invested in equity to acquire 75% of Monroe Capital, as announced on October 22, 2024 (closing expected in the first quarter of 2025)

Strong financial structure and committed to remain Investment Grade

Debt maturity of 3.6 years with an average cost of 2.4%
LTV ratio at 7.2%⁶ as of December 31, 2024, and 22.9%⁷ on a pro forma basis taking into account future investment commitments in IK Partners funds and the acquisition of Monroe Capital.
Pro forma total liquidity of €1.2⁸ billion as of December 31, 2024, including €0.4 billion in cash and €875 million in committed credit facility (fully undrawn)

Reappointment of Wendel’s Executive Board

On February 26, 2025, Wendel’s Supervisory Board decided to reappoint the members of the Executive Board. Laurent Mignon has been reappointed Chairman of the Executive Board and David Darmon, Member of the Executive Board, Deputy CEO, for a period of four years ending to April 6, 2029

Net income, Group share at €293.9 million, showing a strong increase

The net income from operations rose from €711 million to €753.7 million, up 6%.
Net income, group share, at €293.9 million in 2024, compared with €142.4 in 2023, due to the disposal of Constantia Flexibles in 2024.

Laurent Mignon, Wendel Group CEO, commented:

“2024 was a very active year for Wendel and its portfolio companies. Fully diluted net asset value growth, adjusted for the €4 dividend paid in 2024, was 16.9%, driven in particular by the good share price and operational performance of Bureau Veritas and the strong growth of our new third-party asset management business.

We continued to execute our strategic plan, as detailed in 2023, with determination, rigour and financial discipline.

In 2024, we further improved our cash flow generation and value creation profile, notably with the announced acquisition of Monroe Capital, which will give us critical mass to develop our third-party asset management platform. We also focused on premium assets in our principal investments activites, highlighted by the acquisition of Globeducate in October 2024.

These value-creating and recurring cash flow generating transformations now enable us to propose a dividend that is 17.5% higher than last year, reaching 4.70 euros for the financial year 2024.Our transition to a dual model is now well grounded, with top partners in asset management such as IK Partners in private equity and Monroe Capital in private credit, bringing third-party assets under management to more than 33 billion euros.The priorities of Wendel’s teams are to create value on existing assets, to successfully build the private asset management platform around IK Partners and Monroe Capital, and to maintain a solid financial structure.

I would like to thank the members of the Supervisory Board for their renewed full support, as well as the Wendel teams who are skillfully accompanying our value-creating transformation.

In 2025, Wendel’s teams will pursue the roadmap defined two years ago, supporting our principal investments companies in their value creation process, building the third-party asset management platform through the successful integration of Monroe Capital, the continued development of IK Partners as well as the implementation of commercial synergies between the two entities, and continuing to have an agile management of our balance sheet to seize the right opportunities, while maintaining a solid financial structure. We are confident that the development of this dual model will continue to create more value and more recurring returns for our shareholders.”

Wendel’s net asset value as of December 31, 2024: €185.7 per share on a fully diluted basis

Wendel’s Net Asset Value (NAV) as of December 31, 2024, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

Fully diluted Net Asset Value was €185.7 per share as of December 31, 2024 (see detail in the table below), as compared to €162.3 on December 31, 2023, representing an increase of +14.4% since the start of the year and + 16.9% restated from the dividend paid in 2024. Compared to the last 20-day average share price as of December 31, the discount to the December 31, 2024, fully diluted NAV per share was -49.6%.

Bureau Veritas contributed very positively to Net Asset Value, as end of December 2024, its 20-day average share price was up strongly YTD (+32.5%). IHS Towers (-28.0%) and Tarkett (+15.4%) share price impacts were negligible given the weight of Bureau Veritas in NAV. Total value creation per share of listed assets was therefore +€25.9 on a fully diluted basis over the course of 2024.

Unlisted asset contribution to NAV was negative over the course of the year with a total change per share of -€4.9 reflecting selective assets’ operational performances offsetting the good performance from CPI.

Asset management activities were consolidated and accounted in the NAV for the first time at the end of June following the acquisition of IK Partners. There is no sponsor money included in the NAV yet, as no capital has been called. IK Partners’ valuation is up by €6.0 per share, driven by strong performance and positive market multiples evolution.

Cash operating costs, Net Financing Results and Other items impacted NAV by -€1.0, as Wendel benefits from a positive carry. The impact of year-to-date share buyback activity would be +€1.4 per share as of December 31, 2024.

Total Net Asset Value creation per share amounted to €27.4 in 2024.

Fully diluted NAV per share of €185.7 as of December 31, 2024

(in millions of euros)			12/31/2024		12/31/2023
Listed investments	Number of shares	Share price ⁽¹⁾	3,793	3,867
Bureau Veritas	120.3m/160.8m	€29.5/€22.2	3,544	3,575
IHS	63.0m/63.0m	$3.2/$4.4	192	251
Tarkett		€10.5/€9.1	57	40
Investment in unlisted assets ⁽²⁾			3,612	4,360
Asset Management Activities ⁽³⁾			616	–
Other assets and liabilities of Wendel and holding companies ⁽⁴⁾			174	6
Net cash position & financial assets ⁽⁵⁾			2,407	1,286
Gross asset value			10,603	9,518
Wendel bond debt			-2,401	-2,401
IK Partners transaction deferred payment			-131	–
Net Asset Value			8,071	7,118
Of which net debt			-124	-1,115
Number of shares			44,461,997	44,430,554
Net Asset Value per share			€181.5	€160.2
Wendel’s 20 days share price average			€93.5	€79.9
Premium (discount) on NAV			-48.5%	-50.1%
Number of shares – fully diluted			42,466,569	43,302,016
Fully diluted Net Asset Value, per share			€185.7	€162.3
Premium (discount) on fully diluted NAV			-49.6%	-50.7%

(1)   Last 20 trading days average as of December 31, 2024, and December 31, 2023.
(2)   Investments in unlisted companies (Globeducate, Stahl, Crisis Prevention Institute, ACAMS, Scalian and Wendel Growth as of December 31, 2024. As of Dec 31,2023 also included Constantia Flexibles and excluded Globeducate). Aggregates retained for the calculation exclude the impact of IFRS16.
(3)   IK Partners’ activity, no sponsor money at this stage.
(4)   Of which 1,995,428 treasury shares as of December 31, 2024, and 1,128,538 treasury shares as of December 31, 2023
(5)   Cash position and financial assets of Wendel & holdings.

Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.
If co-investment and managements LTIP conditions are realized, subsequent dilutive effects on Wendel’s economic ownership are accounted for in NAV calculations. See page 246 of the 2023 Registration Document.

Wendel’s Principal Investments’ portfolio rotation

In 2024, Wendel has realized a total of €2.3 billion in disposals for its own account and has invested c.€0.7 billion, reflecting the acceleration of the diversification of its investment portfolio, in line with the strategy announced a few months ago:

Wendel announced on January 4, 2024, that it had completed the sale of Constantia Flexibles, generating total net proceeds⁹ for Wendel of €1,121 million for its shares, i.e. a valuation over 10% higher than the latest NAV on record before the announcement of the transaction (as at March 31, 2023).
Wendel announced on April 5, 2024, that it had successfully completed the sale of 40.5 million shares in Bureau Veritas, representing c.9% of the Company’s share capital, for total proceeds of approximately €1.1 billion. The transaction was carried out at a price of €27.127, or a discount of 3% from the previous day’s share price.
Wendel Growth realized its investment in Preligens, a leader in artificial intelligence (AI) for aerospace and defence, generating net proceeds to Wendel of c.€14.6 million, translating into a gross IRR of 28%¹⁰. In addition, Wendel Growth announced on June 11, 2024, the acquisition of a minority stake in YesWeHack through an equity investment of €14.5 million.
Wendel reinvested €43.7m in Scalian upon the acquisition of Mannarino on June 21, 2024. This Canadian company is a leading engineering services specialist for advanced technology R&D for the aviation sector, primarily in North America, with recognized expertise in safety-critical embedded software and systems.
On October 16, 2024, Wendel completed the acquisition of c.50% of Globeducate, one of the world’s leading bilingual K-12 education groups, from Providence Equity Partners. Wendel invested €607 million of equity, at an Enterprise Value of c.€2 billion¹¹, to join Providence, and both firms will now own c.50% of the group.

Wendel’s Asset Management platform evolution

Acquisition of Monroe Capital dramatically expands Wendel’s Asset Management platform and rebalances its business model towards more recurring cash flows and growth

Wendel announced on October 22, 2024 that it had entered into a definitive partnership agreement including the acquisition of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”) for $1.13 billion, and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, and will invest in GP commitment for up to $200 million.

For Wendel, the acquisition of a controlling stake in Monroe Capital, a private credit market leader focused on the U.S. lower middle market that has established an outstanding track record, would represent a significant and transformational advancement of the strategy it announced in March 2023 to develop its third-party asset management platform to complement its longstanding Principal Investment business.

With IK Partners and Monroe Capital, Wendel’s third party asset management platform will reach more than €33 billion in AUM¹², and should generate, on a full year basis, c.€ 455 million revenues, c.€160 million pre-tax FRE (c.€100 million in pre-tax FRE (Wendel share) in 2025. Wendel’s objective is to reach €150 million (Wendel share) in pre-tax FRE in 2027.

Third Party Asset Management value creation and performance

2024 performance

Over 2024, IK Partners had particularly strong activity, generating a total of €163.3 million in revenue, up 31% YoY, and a strong growth of FRE to €69.9 million. Total Assets under Management (€13.8 billion, of which €3 billion of Dry Powder¹³) grew by 24% since the beginning of the year, and FPAuM¹⁴ (€10.1 billion) by 33%. Over the period, €3.4 billion of new funds were raised (IK X, IK PF III, IK SC IV and IK CV I) and 11 exits have been announced, for over €1.6 billion.

Sponsor money invested by Wendel

Wendel committed €500 million in IK Partners funds, of which €300 million in IK X. These commitments have not yet been called as of December 31, 2024.

Principal Investment companies’ value creation and performance

Figures post IFRS 16 unless otherwise specified.

Listed Assets: 36% of Gross Asset Value

Bureau Veritas’ LEAP | 28 strategy delivers outstanding results in 2024; Confident 2025 outlook

(full consolidation)

Revenue in 2024 amounted to €6,240.9 million, a 6.4% increase year-on-year. The organic increase was 10.2% (including 9.6% in the fourth quarter) benefiting from robust underlying trends across businesses and geographies.

Adjusted operating profit increased by 7.1% to €996.2 million. This represents an adjusted operating margin of 16.0% up 11bps on a reported basis and up 38 bps at constant currency.

Bureau Veritas posted a record free cash flow of €843.3 million (+27.9% year-on year). As of December 31, 2024, adjusted net financial debt was €1,226.3 million, i.e. 1.06x EBITDA, compared with 0.92x at December 31, 2023.

In line with LEAP I 28 plan focused portfolio strategy and through active portfolio management, in 2024 Bureau Veritas completed: i) the acquisition of 10 bolt-on companies for a total annualized revenue of c. €180 million; ii) the divestment of its Food testing business and of a technical supervision business on construction projects in China (c. € 165 million in annualized combined revenue). Bureau Veritas ended the year with its inclusion in the CAC 40, the benchmark index of the Paris stock exchange. This achievement underscores the Group’s consistent operational success and marks a significant milestone in Bureau Veritas’ remarkable journey.

2025 outlook

Building on a strong 2024 momentum, a robust opportunities pipeline, a solid backlog, and a strong underlying market growth, and in line with LEAP | 28 financial ambitions, Bureau Veritas expects to deliver for the full year 2025:

Mid-to-high single-digit organic revenue growth;
Improvement in adjusted operating margin at constant exchange rates;
Strong cash flow, with a cash conversion¹⁵ above 90%.

For further details: group.bureauveritas.com

IHS Towers – IHS Towers will report its FY 2024 results in March 2025

Tarkett reported its annual results on February 20, 2025

For more information: https://www.tarkett-group.com/en/investors/

Unlisted Assets: 34% of Gross Asset Value

(in millions)	Sales		EBITDA			Net debt
	2023	2024	2023 including IFRS 16	2024 including IFRS 16	Δ	End of December including IFRS 16
Stahl	€913.5	€930.2	€204.0	€206.9	+1.4%	€383.8
CPI	$138.4	$150.1	$68.6	$74.0	+7.8%	$378.2
ACAMS	$102.9	$102.1	$24.6	$25.1	+2.0%	$165.0
Scalian	€539.9	€533.4	€63.9	€59.8	-6,3%	€345.6
Globeducate⁽¹⁾	na	€352.2	na	€84.2	na	na

(1) Globeducate acquisition was completed on October 16^th, 2024. Globeducate fiscal year ends in August, and figures shown are last twelve months at the end of August 2024. Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures for the year ending in August-24.

Stahl – Total sales up +1.8% in 2024 despite market challenges in the automotive and luxury goods end-markets. Strong EBITDA margin of 22.2%. In 2024, Stahl completed its transformation into a pure-play specialty coatings formulator for flexible materials.

(Full consolidation) 

Stahl, the world leader in specialty coatings for flexible materials, posted total sales of €930.2 million in the full year of 2024, representing a total increase of +1.8% versus 2023.

Organically, sales were slightly down -1.1%, in a context of tougher markets in automotive and luxury goods, while FX contributed -1.5%. Acquisitions contributed positively (+4.4%) to total sales variation.

Full Year 2024 EBITDA¹⁶ amounted to €206.9 million (+1.4% vs. 2023), translating into a strong EBITDA margin of 22.2%, thanks to a disciplined margin and fixed costs management, as well as a good diversification across geographies and segments.

Net debt as of December 31^st, 2024, was €383.8 million¹⁷, versus €329 million at the end of 2023 and leverage stood at 1.7x¹⁸.

On November 18, 2024, Stahl announced the sale of its Wet-end leather chemicals division, that marks an important step in the Group’s strategic journey. The proposed sale completes Stahl’s transformation into a pure-play specialty coatings formulator for flexible materials. The transaction is subject to customary closing conditions and is expected to close in H1 2025.

Pro forma for the sale of the Wet-end leather chemicals business and the acquisition of Weilburger Graphics GmbH, 2024 sales would amount to c.€ 759 million, EBITDA to c.€180 million (i.e., a 23.7% margin) and leverage would stand at an estimated 1.6x. These transactions strengthen Stahl’s growth profile, with the company now better positioned for faster growth, and have an accretive impact on its EBITDA margin.

Crisis Prevention Institute reports +8.5% revenue and +7.8% EBITDA growth

(Full consolidation)

CPI recorded 2024 revenues of $150.1 million, up +8.5% compared to 2023, or +8.4% organically (FX impact was +0.1%), resulting from strong growth in the consumption of training materials, signifying active training of broader staff throughout the Company’s primary customers in educational, healthcare and human services settings. In addition, the Company benefitted from continued growth in its Enterprise segment, a core strategic focus targeting large health systems.

Full Year 2024 EBITDA was $74.0 million¹⁹, reflecting a margin of 49.3%. EBITDA was up +7.8% vs. last year while margins are stable (49.6% in 2023), despite investments to scale in International markets.

As of December 31, 2024, net debt totaled $378.2 million²⁰, or 4.6x EBITDA as defined in CPI’s credit agreement, following the c. $100 million dividend payment to Wendel in April of 2024. Given current leverage, CPI repriced its Term Loan and received a 50bps interest rate stepdown, or a c. $1.4 million annual savings.

On January 21^st, 2025, CPI announced the acquisition of Verge, a Norwegian leader in behaviour intervention and training. This acquisition extends CPI’s presence in the Nordics, and enhances CPI’s ability to support professionals worldwide, leveraging Verge’s innovative techniques to address challenging behaviours, aggression and violence.

ACAMS – Total sales stable and improved 24.6% margin amid strong transformation momentum

(full consolidation)

ACAMS, the global leader in training and certifications for anti-money laundering and financial crime prevention professionals, generated 2024 revenue of $102.1 million, down 0.8% vs. 2023. The results for 2024 reflected continued growth and market expansion in North America and Europe, largely offset by soft sales in the Asia-Pacific region and from exhibition spend at certain conferences early in the year, slower sales to non-banking customers at consultancies and governments.

EBITDA²¹ in 2024 was $25.1 million, up 2% vs. 2023, and reflecting a margin of 24.6%, up 70 bps year-over -year.

As of December 31, 2024, net debt totaled $165.0 million²², slightly up from $155.8 million at the end of 2023, which represents 6.7x EBITDA leverage as defined in ACAMS’ credit agreement, with ample room relative to the 9.5x covenant level.

This past year has been pivotal in the Company’s transformation, with the addition of CEO Neil Sternthal who joined from Thomson Reuters in early 2024 and subsequently made several additions to the senior leadership team, and shifted focus to core growth with large enterprise customers, product and market expansion including the introduction of its Certified Anti-Fraud Specialist certification (CAFS), and key investments in the technology platform. These critical investments are all geared toward advancing the impact of the Company’s mission of combating financial crime, accelerating its strategy and further developing its position as a technology-enabled provider of trusted information, data and analytics for the anti-financial crime (AFC) community.

Management expects the significant changes will, over time, create a more robust platform for the global AFC community and a more scalable, consistent business model with accelerated growth for ACAMS.

ACAMS anticipates modest growth in 2025 as the recent changes take hold with improved growth toward the end of the year and into 2026.

Scalian – Slight decrease of total sales of -1.2% in 2024, in the context of continued market growth slowdown. EBITDA margin rate at 11.2%, down c. 60 bps, mainly due to lower utilization rate and the marked slowdown in certain sectors (automotive in Germany and civil aeronautics). Acquisition of Dulin in January 2024 and Mannarino in June 2024.

(Full consolidation since July 2023.) 

Scalian, a European leader in digital transformation, project management and operational performance consulting, reported total sales of €533.4 million as of December 31, 2024, a -1.2% decrease vs. 2023. The slowdown is spread across several sectors, particularly automotive in Europe and Aeronautics (supply chain disruptions). Sales are down -4.0% organically and benefited from a positive scope effect of +2.8%.

Scalian generated an EBITDA²³ of €59.8 million in 2024. The EBITDA margin rate stood at 11.2%, down c. 60 bps vs. 2023, mainly explained by lower utilization rate, partially offset by strict SG&A control.

As of December 31, 2024, net debt²⁴ stood at €345.6 million (leverage of 6.46x²⁵ EBITDA).

In 2024, Scalian announced the acquisition of Dulin Technology in January, a Spanish-based consulting firm specializing in cybersecurity for the financial sector, and Manarinno in June, a Canadian-based company that is a leading engineering services specialist with a unique know-how in advanced technology R&D for the aviation sector.

Globeducate – Total sales up +10%²⁶over LTM as of August 2024 Year-end. Strong EBITDA margin at 23.9%²⁷in line with expectations.

(Accounted for by the equity method. Globeducate acquisition was completed on October 16^th, 2024. Globeducate fiscal year ends in August, and figures shown below are last twelve months at the end of August 2024 and first 3 months of the Globeducate year (September – November). Indian operations are deconsolidated and accounted for by the equity method due to the absence of audited figures for the year ending in August-24).

Globeducate, one of the world’s leading bilingual K-12 education groups, posted total sales of €352.2 million¹ for the full year ending in August 2024, representing a total increase of +10% year on year.

EBITDA² for the year ending in August amounted to €84.2 million, translating into a strong EBITDA margin of 23.9%, in line with expectations. This solid financial performance was fueled by a combination of organic and external growth.

Over the first quarter of Globeducate’s fiscal year (September – November), Globeducate completed 3 acquisitions: Olympion School in Cyprus, and Ecole des Petits and Battersea in the UK.

Net debt as of November 30^th, 2024, was €490 million²⁸ and leverage³ stood at 6.2x.

Consolidated Accounts

On February 26, 2025, Wendel’s Supervisory Board met under the chairmanship of Nicolas ver Hulst and reviewed Wendel’s consolidated financial statements, as approved by the Executive Board on February 21, 2025. The audit procedures by the statutory auditors on the consolidated financial statements are underway. The audit report would be released mid-March 2025.

Wendel Group’s consolidated net sales²⁹ totaled €8,063.5 million, up +13.1% overall and up +8.4% organically. FX contribution is -3.9% and scope effect is +8.6%.

The overall contribution of Group portfolio companies to net income from operations, Group share amounted to €274.1 million, down -24.3% year on year impacted by the disposal of Constantia and the sale of 25% of the stake in Bureau Veritas. Net income from operation, Group share, was €232.7 million, down -5.8%.

Financial expenses, operating expenses and taxes at Wendel SE level totaled €63.0 million (of which €22.4 million non-cash), down -45.4% from the €115.3 million (of which €25.3 million non-cash) reported in 2023. Operating expenses are slightly down and financial expenses are positive with a positive carry of cash generating €35.6 million. 2024 is impacted by a goodwill depreciation of €188.2 million, mainly related to Scalian and the Stahl’s wet-end division, which is in the process of being sold.

Net income Group share €293.9 million strongly up vs.€142.4 million in 2023, reflecting a €418.6 million capital gain group share from the disposal of Constantia Flexibles in H1 2024.

ESG achievements

Non-financial ratings: Wendel improves its CSA rating from S&P, confirms its inclusion in the DJSI World and Europe.

For the sixth year in a row, Wendel has been included in the Dow Jones Best-in-Class (previously Dow Jones Sustainability Indices) World and Europe indices, making it one of the top 10% of companies in terms of sustainability in the Diversified Financials category. With a score of 76/100 in its category, Wendel is well above the average for its sector (26/100). This rating places Wendel in the top 1% of its sector “FBN Diversified Financial Services and Capital Markets”

Through the review of the Corporate Sustainability Assessment questionnaire, S&P Global assesses the ESG (Environment, Social, Governance) performance of listed companies in different industries since 1999. The top 10% of companies with the best performance in terms of sustainability, according to criteria defined for each industry, are included in the Dow Jones Best-in-Class Indices (previously Dow Jones Sustainability Indices).

New ESG roadmap 2024-2027

In 2024, Wendel defined a new ESG roadmap, approved by the Supervisory Board and the Executive Board, notably to take into account the Group’s recent strategic developments, including the new third-party asset management activity (IK Partners and Monroe Capital acquisitions).
This roadmap includes five priorities: Governance & Business Ethics, Reliability of extra-financial information, Health & Safety, Climate change & adaptation, Parity.

These five priorities will apply to all Wendel’ investment activities, encompassing both principal investment and third-party asset management. The detailed policies and action plans of the roadmap will be presented in the sustainability report included in the Group’s 2024 Universal Registration Document.

Renewal of the Executive Board of Wendel

On 26 February 2025, the Supervisory Board of Wendel decided to renew the appointments of Laurent Mignon and David Darmon as Chairman of the Executive Board of Wendel and Member of the Executive Board and Group Deputy CEO of Wendel, respectively, for a period of four years until 6 April 2029, with effect from 7 April 2025.

Renewal of the appointments of members of the Supervisory Board

At the General Meeting of 15 May 2025, it will be proposed to the shareholders that Nicolas ver Hulst, Priscilla de Moustier, Bénédicte Coste and François de Mitry be reappointed as members of the Supervisory Board for a further four-year term. If the renewal of their mandate is approved, Nicolas Ver Hulst will remain chairman of the Supervisory Board, Priscilla de Moustier and Bénédicte Coste will continue their roles on the Governance and Sustainable Development Committee, and François de Mitry will continue his role on the Audit, Risk and Compliance Committee.

Agenda

Thursday, April 24, 2025

Q1 2025 Trading update – Publication of NAV as of March 31, 2025 (post-market release)

Thursday, May 15, 2025

Annual General Meeting

Wednesday, July 30, 2025

H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

Thursday, October 23, 2025

Q3 2025 Trading update – Publication of NAV as of September 30, 2025 (post-market release)

Wednesday, December 10, 2025

2025 Investor Day.

About Wendel

Wendel is one of Europe’s leading listed investment firms. Regarding its principal investment strategy, the Group invests in companies which are leaders in their field, such as ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. In 2023, Wendel initiated a strategic shift into third-party asset management of private assets, alongside its historical principal investment activities. In May 2024, Wendel completed the acquisition of a 51% stake in IK Partners, a major step in the deployment of its strategic expansion in third-party private asset management and also announced in October 2024 the acquisition of 75% of Monroe Capital. Pro forma of Monroe Capital, Wendel manages more than 33 billion euros on behalf of third-party investors, and c.7.4 billion euros invested in its principal investments activity.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019

Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la Culture” in 2012.

For more information: wendelgroup.com

Appendix 1: 2024 Consolidated sales and results

2024 consolidated net sales

(in millions of euros)	2023	2024	Δ	Organic Δ
Bureau Veritas	5,867.8	6,240.9	+6.4%	+10.2%
Stahl⁽¹⁾	913.5	930.2	+1.8%	-1.1%
Scalian⁽²⁾	126.8	533.4	n.a.	n.a.
CPI	128.0	138.8	+8.4%	+8.4%
ACAMS⁽³⁾	91.6	93.7	+2.4%	-0.6%
IK Partners⁽⁴⁾	n.a.	126.5	n.a.	n.a.
Consolidated sales	7,127.6	8,063.5	+13.1%	+8.4%

(1) Acquisition of ICP Industrial Solutions Group (ISG) since March 2023 (sales’ contribution of €89.7M vs €89.1M in 2023) and acquisition of Weilburger since September 2024 (sales’ contribution of €18.2M).

(2) Scalian, which had a different reporting date to Wendel (refer to 2023 consolidated financial statements – Note 2 – 1.” Changes in scope of consolidation in 2023″), realigns its closing date with Wendel group. Consequently, 2024 sale’s contribution correponds to 12 months’ sales between January 1st 2024 and December 31st 2024. Last year’s contribution corresponds to 3 months’ sales between July 1st 2023 and September 30 2023.

(3) The sales include a PPA restatement for an impact of -€0.6M (vs -€3.4M as of 12M 2023). Excluding this restatement,the sales amount to €94.2M vs. €95.2M as of 12M 2023. The total growth of +2.4% include a PPA effect of +3,3%.

(4) Contribution of eight months of sales

2024 net sales of equity-accounted companies

(in millions of euros)	2023	2024	Δ	Organic Δ
Tarkett ⁽⁵⁾	3,363.1	3,331.9	-0.9%	-0.4%
Sales (Equity method) ⁽⁶⁾	3,363.1	3,331.9	-0.9%	-0.4%

(5)Selling price adjustments in the CIS countries are historically intended to offset currency movements and are therefore excluded from the
“organic growth” indicator

(6) Due to the recent acquisition date of the Globeducate group, its contribution is not yet included in Group sales.

2024 consolidated results

(in millions of euros)	2023	2024
Contribution from asset management	–	42.3
Consolidated subsidiaries	826.3	774.4
Financing, operating expenses and taxes	-115.3	-63.0
Net income from operations⁽¹⁾	711.0	753.7
Net income from operations, Group share	*246.9*	*232.7*
Non-recurring income/loss	-60.4	532.3
Impact of goodwill allocation	-120.4	-107.9
Impairment	0.7	-188.2
Total net income⁽²⁾	530.9	989.9
Net income, Group share	142.4	293.9

(1) Net income before goodwill allocation entries and non-recurring items.

(2) -€85.2M of change in fair value for IHS recognized through OCI and €784M of capital gain on the Bureau Veritas bloc accounted for through equity.

2024 net income from operations

(in millions of euros)	2023			2024	Change
Total contribution from asset management: IK Partners			n/a	42.3	n/a
Bureau Veritas	594.0			643.3	+8.3%
Stahl	90.3			100.2	+11.0%
Constantia Flexibles	115.2			–	n/a
CPI	20.7			22.2	+7.2%
ACAMS	0.0			-0.7	n/a
Scalian	-2,8			-6.2	n/a
Tarkett (equity accounted)	8.8			15.6	+76.2%
Total contribution from Group companies		826.3		774.4	-6.3%
of which Group share	362.1			274.1	-24.3%
Operating expenses net of management fees			-72.5	-72.2	-0.4%
Taxes	-1.5			-4.0	+169.8%
Financial expenses	-15,9			35.6	n/a
Non-cash operating expenses	-25.3			-22.4	-11.4%
Net income from operations	711.0			753.7	+6.0%
of which Group share	246.9			232.7	-5.8%

Appendix 2: Fully diluted Net Asset Value bridge over 2024

Appendix 3: Conversion from accounting presentation to economic presentation

Please refer to table 7.1 of the consolidated statements.

Appendix 4: Glossary

AUM (Assets under Management): Corresponding – for a given fund – to total investors’ commitment (during the fund’s investment period) or total invested amount (post investment period)
FRE (Fee-Related Earnings) : Earnings generated by recurring fee revenues (mainly management fees). It excludes earnings generated by more volatile performance-related revenues.
GP (General Partner): Entity in charge of the overall management, administration and investment of the funds. The GP is paid by management fees charged on assets under management (AuM)

1 Fully-diluted NAV per share assumes all treasury shares are cancelled and a complementary liability is booked to account for all LTIP related securities in the money as of the valuation date.

2 Fully diluted of share buybacks and treasury shares.

3 Including the €4.0 per share dividend paid in 2024.

⁴ Dividend payout calculated on the basis of fully-diluted NAV at the end of December 2024.

5 Based on Wendel’s share price of €97.15 as of February 21, 2025.

6 Including sponsor money commitment in IK (€-500m).

7 Including sponsor money commitment in IK (€500m) and proforma of IK Partners transaction deferred payment (€-131m), Monroe Capital 100% acquisition (including estimated earnout and put on 25% of residual capital, i.e €-1.6bn) and GP commitments in Monroe Capital ($-200m for 2025).

8 €2.4bn of cash as of December 31, 2024, restated from sponsor money commitment in IK (€-500m), IK Partners transaction deferred payment (€-131m), Monroe Capital 100% acquisition (including estimated earnout and put on 25% of residual capital, i.e €1.6bn) and GP commitments in Monroe Capital’s new strategies (c. $-200m for 2025).

9 Net proceeds after ticking fees, financial debt, dilution to the benefit of the Company’s minority investors, transaction costs and other debt-like adjustments.
10 Gross IRR of 28%. Net IRR of 26%.
11 EV including IFRS 16 impacts. Excluding IFRS 16, EV stands at c.€1.86 billion.
12 As of end of December 2024

13 Commitments not yet invested

14 Fee Paying AuM

15 (Net cash generated from operating activities – lease payments + corporate tax)/adjusted operating profit

16 EBITDA including IFRS 16 impacts, EBITDA excluding IFRS 16 stands at €201.0m.

17 Including IFRS 16 impacts. Net debt excluding the impact of IFRS 16 was €364.4m.

18 Leverage as per credit documentation definition.

19 Recurring EBITDA post IFRS 16. Recurring EBITDA pre IFRS 16 was $72.8m

20 Post IFRS 16 impact. Net debt pre IFRS 16 impact was $375.2m.

21 EBITDA including IFRS 16. EBITDA excluding IFRS16 stands at $24.0m

22 Including IFRS 16 impacts. Net debt excluding the impact of IFRS 16 was $164.2m.

23 EBITDA including IFRS 16 impact. Excluding IFRS 16, EBITDA stands at €50.9 m. Mannarino taken into account for 6 months.

24 Net debt including IFRS 16 impact. Excluding IFRS 16, net debt stands at €314.9 m.

25 As per credit documentation (pre IFRS 16)

26 Excluding Indian activities. Indian estimated revenue stands at €25 m.

27 EBITDA including IFRS 16 impacts and excluding Indian activities. Indian estimated EBITDA stands at €9.8 m.

28 As per credit documentation definition.

29 Consolidated sales will be published only for Full Year and Interim results. For Q1 & Q3, sales by companies/activities will continue to be commented on an individual basis

Attachment

Wendel_EN_FY 2024

The MIL Network –

February 27, 2025

MIL-OSI Global: From Messi to Mika Häkkinen: how top athletes can slow down time

Source: The Conversation – UK – By Steve Taylor, Senior Lecturer in Psychology, Leeds Beckett University

Jay Hirano/Shutterstock

With the new Formula 1 season is about to begin, it’s worth pondering what makes a great racing driver. There are no doubt several important qualities, such as calmness under pressure, the courage to take risks, quick reflexes and excellent coordination.

But there is a more obscure ability that may separate the best drivers – and other top athletes – from the rest: the ability to “slow down” time.

In 1994, a British racing driver named Mark Hughes had “one of the greatest days” of his life when he began a race right at the back of the grid, with 25 other cars in front of him. Somehow he managed to overtake 23 cars, finishing third. While driving, Hughes felt a strange sense of detachment, as if he was watching from outside his body. He also felt a peculiar sense of timelessness.

As he told the author Clyde Brolin for his book In the Zone (2017): “It’s funny and it sounds weird but it felt unconnected to time … It’s not really time … You felt you could go back, analyse and have a look”.

Many racing drivers have reported similar experiences. In another Brolin book, Overdrive (2010), Finnish driver Mika Häkkinen reported that, when driving at his best, “Everything becomes like slow motion — even though you’re going at unbelievable speed around the Monaco track.”

The Scottish driver Jackie Stewart, who competed in Formula 1 during the 1960s and 70s, told Brolin that this skill is an essential prerequisite for success in racing. “At 195 mph, you should still have a very clear vision, almost in slow motion, of going through that corner — so that you have time to brake, time to line the car up, time to recognise the amount of drift.”

Time expansion experiences, as I refer to them in my research, are common in other sports too. The American sprinter Steve Williams — who equalled the men’s 100- and 200-metre world records in the 1970s — described to me how, when he was running well, “10 seconds seems like 60. Time switches to slow motion.”

Many players of ball games report moments of time-slowing too. In my research, a man described a game of table tennis that suddenly “turned into slow motion … I could see the ball and its flight and spin perfectly, anticipating its precise bounce, and position my body, arm, hands and wrist to hit perfect returns”.

I also cite the experience of an ice hockey player for whom “the play which seemed to last for about 10 minutes all occurred in the space of about eight seconds”.

A lucky few

In my book, Time Expansion Experiences (2024), I suggest that only a tiny proportion of extraordinary athletes have easy access to time expansion experiences.

One example is the baseball player Ted Williams, whose career ran from 1939 to 1960. Williams is usually regarded as one of the greatest hitters (if not the best) ever. He claimed to be able to see the stitches on the seam of the ball as it flew toward him at 100 mph. He described how the ball sometimes appeared to grow, so that it seemed like a beach ball floating toward him in slow motion.

This may also be true of Lionel Messi, often described as the best footballer of his generation. Some scientists believe that Messi may experience anomalous neurological processing that slows down his perception of time. This would account for his “impossible” goals that seem to defy the laws of physics.

Some scientists think Messi’s brain is different.
Shutterstock

Explaining time expansion

How can this extraordinary ability be explained scientifically? We don’t really know for sure yet.

There is some evidence that physical exercise generally slows down time. In a recent study, 33 cyclists were asked to estimate the duration of trials, and believed that more time had passed than it actually had. Perhaps this effect is more pronounced for higher level athletes, because of their higher levels of fitness and stamina.

However, this wouldn’t explain why certain sportspeople, such as Messi or Williams, have a more pronounced ability to slow down time than other, equally fit peers. In 2016, a group of German scientists suggested that they may be able to “buy time” due to superior motor skills that allow their “predictive brains to make better use of time than other players to read the games and plan ahead”.

My own explanation is slightly different. I believe the key to understanding time expansion is through altered states of consciousness. Our normal time perception is linked to our usual state of consciousness. In some mildly altered states (such as being in a state of flow) time passes very quickly. But during intense, altered states, time usually expands dramatically, or seems to disappear altogether.

This may be why radical time expansion is a common feature of psychedelic drugs, and of accidents and emergencies. The sudden shock of an accident may disrupt our normal psychological processes and functions, causing an abrupt shift in consciousness.

In sport, intense altered states are due to what I call “super-absorption.” Absorption normally makes time pass faster, as in flow. However, when it becomes especially intense, over a long period of sustained concentration, the opposite occurs. In some cases, an athlete builds up concentration gradually over the course of a game or contest. A racing driver or a golfer may concentrate hard for hours, eventually attaining a state of intense absorption.

Here the game is akin to a meditation, in which a person gradually focuses their mind, attaining deeper states of stillness and well-being. In other cases, an athlete shifts quickly into super-absorption during a critical period of a game — for example, when they (or their team) are losing and making a concerted effort to catch up or in the final minutes of a game when scores are tied or close.

Although many factors contribute to success in sports, perhaps the key to extraordinary ability is the capacity to enter an altered state of consciousness through intense absorption. And the most important feature of this altered state is time expansion.

Steve Taylor 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. From Messi to Mika Häkkinen: how top athletes can slow down time – https://theconversation.com/from-messi-to-mika-hakkinen-how-top-athletes-can-slow-down-time-249780

MIL OSI – Global Reports –

February 27, 2025
MIL-OSI Global: Theatre’s thriving horror revival reflects a cultural moment of collective anxiety

Source: The Conversation – UK – By Richard Hand, Professor of Media Practice, University of East Anglia

The stage has long presented horror as entertainment, from 19th-century ghost and revenge melodramas to the blood-soaked spectacles of the grand-guignol, the Parisian “theatre of horror’.

In recent decades, horror theatre has often been perceived as a relic of the past, overshadowed by its more commercially dominant and popular cinematic and digital counterparts. This may have seemed evident in 2023 when The Woman in Black finally closed after 33 years of haunting London’s West End.

Yet, a recent wave of new and revived horror plays suggests that the genre is once again thriving on stage. With audiences flocking to 2:22 A Ghost Story, Paranormal Activity, Saint Maud, Inside No. 9 Stage/Fright and two concurrent but unrelated adaptations of the infamous Enfield poltergeist case, it begs the question: what is driving this resurgence? And could it be a reflection of our cultural moment – one that echoes the anxieties and uncertainties of previous gothic ages?

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The original 19th-century gothic period in theatre was characterised by its fascination with the supernatural, the macabre and psychological extremes. Drawing inspiration from gothic literature, these plays often featured doomed heroines, villainous aristocrats and vengeful spectres, creating a haunting atmosphere of terror, suspense and unease.

Melodrama played a key role, with heightened emotions, moral polarities, and elaborate stage effects – such as trapdoors, phantasmagorical projections and eerie soundscapes – enhancing the spectacle. Gothic theatre reflected contemporary anxieties about the unknown, scientific progress, and the boundaries between reason and madness, captivating audiences with its thrilling blend of horror and theatrical illusion.

The demise of the neo-Victorian gothic The Woman in Black aside, horror theatre is anything but exorcised from the stage. The Leeds Playhouse stage adaptation of Paranormal Activity, directed by Felix Barrett, used technology, scene staging and ingeniously deployed magic tricks for a spine-chilling experience as compellingly immersive as many of the director’s more famous Punchdrunk shows.

Danny Robins, whose podcast and TV show Uncanny has captivated audiences with real-life supernatural tales, enjoyed success when his 2:22 A Ghost Story materialised in the nervous context of a post-lockdown London in 2021. The play has continued in revivals and on tour while, in parallel, Robins’ podcast became a live stage tour, Uncanny: I Know What I Saw, filling theatres across the UK.

Similarly, Inside No. 9 Stage/Fright has recently opened in London giving the beloved but concluded television programme an afterlife, and proving its signature brand of macabre storytelling is highly suited to a live environment.

These productions, and others like them, are drawing significant audiences, not just for their jump scares and eerie atmospheres but because they tap into something deeper: a desire to engage with horror in a way that feels immediate and unfiltered by the distraction of screens.

Live performance offers something that no digital medium can fully replicate: physical presence, unpredictability, and the heightened emotional responses that come from sharing an experience in real time with real people, most of whom will be complete strangers.

Horror theatre’s resurgence taps into a collective psychological need to process fear in a safe space. Stage horror offers audiences a cathartic release – a chance to confront, experience, and ultimately purge fear in a controlled environment.

The communal nature of theatre makes this experience all the more potent: the gasps, shrieks, and laughter of fellow audience members reinforce the sense of shared vulnerability and nervousness, exhilaration and hilarity.

At a time when people are overwhelmed by an endless stream of manipulated digital content, horror theatre provides a real and visceral alternative. The genre’s success also speaks to theatre’s ability to evolve with changing audience expectations, incorporating elements of interactivity, immersion and technological innovation that mirror trends in gaming, VR, and participatory storytelling.

Horror theatre’s return is about more than just entertainment and escapism: it reflects a cultural shift reminiscent of past gothic revivals. Historically, horror has flourished during times of social and political upheaval.

The 19th-century fascination with ghosts, revenge narratives and heightened melodramas coincided with anxieties about revolution, industrialisation, urbanisation, shifting morality, and scientific progress that threatened religious beliefs. The French grand-guignol mirrored a period of deep social unrest, shifting political landscapes and the simultaneous awe and angst about technological and medical advances.

Theatre, as a medium, has always been uniquely responsive to “the moment”. Today, as we grapple with global crises, from pandemics and climate change to political volatility and technological overreach, it is no surprise that horror has found renewed cultural relevance.

The horror stories that dominate recent productions are not just exercises in fright – they are reflections of contemporary anxieties. The current touring revival of Jeremy Dyson and Andy Nyman’s Ghost Stories, the stage adaptations of Peter James’ macabre thrillers, and other unnerving productions signals a fascination with the blurred boundary between everyday reality and our phobias, mirroring wider societal debates around truth, belief, and uncertainty.

What we are witnessing, then, is not just a nostalgic resurgence of the old-fashioned genre of horror theatre but the reflection of a new gothic age, one shaped by our era’s profound fears and instabilities. The success of these productions suggests that horror is not only commercially viable in the theatre but culturally necessary.

Whether through traditional ghost stories, psychological thrillers, or experimental immersive experiences, horror theatre is asserting its place as a genre that speaks to the present moment. As long as there are cultural fears to be explored and exorcised, horror theatre will continue to haunt our stages – and our imaginations.

Richard Hand 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. Theatre’s thriving horror revival reflects a cultural moment of collective anxiety – https://theconversation.com/theatres-thriving-horror-revival-reflects-a-cultural-moment-of-collective-anxiety-249651

MIL OSI – Global Reports –

February 27, 2025
MIL-OSI Global: How Trump the ‘master deal-maker’ failed when it came to negotiating with the Taliban in Afghanistan

Source: The Conversation – UK – By Philip A. Berry, Visiting Research Fellow, Department of War Studies, King’s College London

News that Ukraine may be ready to sign a deal granting the US joint development rights to its minerals in the hope of a future security guarantee may be seen as a win by Donald Trump’s supporters who criticised Joe Biden’s unconditional support for Ukraine. After all, whether and how this agreement will actually protect Ukraine from continuing Russian aggression remains unclear.

But Kyiv will be well aware that Trump’s track record as an international deal broker is less than stellar, despite the US president’s regular boast that he is a master deal-maker.

Trump’s self-belief was encapsulated in his ghostwritten memoir, The Art of the Deal, which laid out his tactics to negotiate business transactions. One important tip was: “The best thing you can do is deal from strength, and leverage is the biggest strength you can have.”

Last week, Trump left Zelensky, and European nations reeling when he cut them out of talks with Russia over the war in Ukraine. In doing so, the president had arguably forgotten his own advice: to deal from strength and to use leverage in negotiations.

Trump may have extracted a concession from Ukraine in the form of the mineral deal – although far less than the US$500 billion (£394 billion) of revenue he initially demanded – but in doing so he significantly weakened the US position towards Russia.

Trump not only shattered the western position on Ukraine, but he also unilaterally ended Russia’s three-year isolation without securing any concessions from the Kremlin before inviting them to the negotiating table.

Instead, it was the US that gave leverage away by sidelining Ukraine from the talks, rejecting the country’s desire for Nato membership and conceding that Ukraine was unlikely to restore its pre-2014 borders.

Trump further undermined Zelensky by promoting the false claim that Ukraine started the war and calling him a “dictator”. This week, the US even voted with Russia and China at the United Nations security council over the conflict.

Trump’s criticism of an ally and conciliatory overtures to a country that illegally invaded its neighbour marks a dramatic swing in US policy. The previous US administration provided Ukraine with military and diplomatic support, while imposing economic sanctions on Russia.

A key question being asked in Kyiv and western capitals is what else Trump will concede to secure a deal with the Kremlin. While the contexts between the US’s involvement in Afghanistan and support for Ukraine are very different, Trump’s early strategy for the latter has some hallmarks of the US’s disastrous deal with the Taliban.

Trump’s deal with the Taliban

In response to the 9/11 terrorist attacks, a US-led coalition invaded Afghanistan in October 2001. The allies quickly deposed the repressive Taliban regime and installed a western-backed government.

But by the time that Trump came to office in 2017, the war was at a stalemate. To make matters worse for the president, the US was spending US$27 billion (£21.3 billion) annually on military expenditure. Given this, Trump’s reflex was to withdraw from Afghanistan as quickly as possible.

However, the president’s national security team – largely comprised of former and current military generals who did not owe personal loyalty to Trump – persuaded him to increase the US’s commitment to Afghanistan. The new strategy also set the conditions for a negotiated settlement with the Taliban.

The following year, angered by the lack of progress, Trump argued that the US should “get out” of Afghanistan as the strategy had been a “total failure”.

By this time, the US had talked directly to the Taliban, without the Afghan government in the room – a key Taliban demand. While the talks were designed to lead to intra-Afghan negotiations, it resulted in the Afghan republic being sidelined from the process.

Throughout these talks, Trump frequently threatened to withdraw from Afghanistan. US officials referred to this constant threat as the “Tweet of Damocles” – meaning at any point, the president would announce on Twitter that the US was departing Afghanistan.

The secretary of state at the time, Mike Pompeo – a diehard Trump loyalist – knew the president could pull the plug on the talks at any time. He therefore instructed lead US negotiator, Zalmay Khalilzad, to secure a deal at all costs.

As a former senior Pentagon official who was present at the talks told me, it became clear Pompeo and Khalilzad had “no red lines” as both believed that “any deal was better than no deal”.

Khalilzad abandoned the original Afghan-led process and worked to secure an agreement with the Taliban, which inevitably caused dismay within the sidelined Afghan government. Trump also largely refused to consult the Afghan president, Ashraf Ghani, about his plans.

Compounding matters, the US president made several public statements about his desire to withdraw US forces from Afghanistan. This weakened Khalilzad’s position and encouraged the Taliban to remain resolute in negotiations.

The US-Taliban agreement, which was signed in Doha in February 2020, favoured the insurgents and damaged the Afghan government. Khalilzad had conceded to the Taliban’s key demand: the withdrawal of all US and coalition troops from the country, which was scheduled over 14 months.

In return, the Taliban promised to prevent terrorist groups from basing themselves in Afghanistan and agreed to hold talks with the Afghan government. If the Taliban did not adhere to these conditions, the US would – in theory – halt reducing its troop numbers.

“This was a terrible deal. It was deeply injurious to US interests, let alone ruinous to Afghan interests,” the former Pentagon official told me.

In the end, the Taliban failed to honour its counterterrorism commitments, and only half-heartedly pursued intra-Afghan talks.

The deal set the conditions for the insurgents to retake Kabul by force, although the disastrous withdrawal overseen by the administration of Trump’s successor, Joe Biden, in 2021 proved fatal for the Afghan government.

Trump’s Taliban deal excluded the US’s ally, conceded too much to an adversary, and was partly motivated by the perception of wasting American dollars in a far-off land. Unfortunately, these hallmarks are all too evident in the president’s stance on Ukraine.

The early signs of Trump’s approach to talks with Russia do not augur well for Ukraine or the western alliance. If Trump does secure a peace deal with Russia that mirrors the accord struck with the Taliban, not only will Ukraine lose out, but Russia may be emboldened to again pursue its expansionist agenda.

Philip A. Berry 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. How Trump the ‘master deal-maker’ failed when it came to negotiating with the Taliban in Afghanistan – https://theconversation.com/how-trump-the-master-deal-maker-failed-when-it-came-to-negotiating-with-the-taliban-in-afghanistan-250835

MIL OSI – Global Reports –

February 27, 2025
MIL-OSI Global: Will the UK’s proposed long-term emissions strategy get us to net zero? An expert review

Source: The Conversation – UK – By John Barrett, Professor of Energy and Climate Policy, Deputy Director of the Priestly Centre for Climate Futures, Theme Lead for the UKRI Energy Demand Research Centre, University of Leeds

In the seventh carbon budget, electric vehicles are key to reducing carbon emissions. nrqemi / shutterstock

The UK government’s official advisory Climate Change Committee (CCC) has now published its recommendations for the country’s “seventh carbon budget”, covering the period from 2038 to 2042.

This advice provides robust evidence for the government to set legally binding limits on greenhouse gas emissions over this five year period, while striving to meet its international commitments on climate change.

The late 2030s may seem far off, but long-term planning is essential. Achieving these targets requires the rollout of low-carbon technologies and the building of consensus for social change. It takes a long time to plan, design and build a power plant or factory.

It could take even longer to change social norms and values around flying, driving or the foods we eat. Setting targets more than a decade in advance gives much needed clarity to investors, businesses and citizens on the direction of travel.

Colleagues and I at the University of Leeds’s Climate Evidence Unit have produced a detailed analysis of the nearly 400 page CCC report. One key takeaway is that the transition to net zero is not only possible but highly beneficial.

Academic analyses (including our own) consistently support this conclusion, showing that it will strengthen the economy and position the UK as a leader in global climate action. And it will deliver warmer homes, cheaper household bills, reduced air pollution, greater energy security with less reliance on imported gas, and many other benefits.

While the report acknowledges the upfront costs, it confirms that acting now will reduce expenses in the long run, with cost savings emerging by the late 2030s and beyond. However, the report significantly underestimates the full economic impacts of the transition, as the CCC’s analysis does not factor in the financial losses associated with extreme weather and other effects of climate change.

These losses could be substantial. A recent report by the Institute and Faculty of Actuaries suggests the effects of climate change could shrink global GDP by 50% between 2070 and 2090. When combined with the additional benefits of climate action, it’s clear that a “do nothing” approach is simply not an option.

The CCC’s proposed plan to achieve this goal, known as the “balanced pathway”, leans heavily on key technologies while placing less emphasis on broader societal changes that help to fully realise these benefits. Compared to the sixth carbon budget report from 2020, this latest analysis gives greater consideration to reducing demand for energy, but the technological bias remains.

It’s politically easier to boost electric vehicles than it is to get people to drive less.
brian.martin.photographer / shutterstock

There is a sense that the report pre-empts what the government would prefer as opposed to challenging current thinking. The problem with this approach is that failing to fully address demand makes the technological transition harder and more expensive than necessary, and increases the risk of failure. More energy must be generated, more car miles need to be driven, and more materials and products must be supplied.

The technological transition

So, what technologies are expected to drive emissions reductions? The first key point is the increasing reliance on technologies that, although they are already available, still need to be deployed at scale. These include electric vehicles, heat pumps for both households and industry, and the rapid expansion of solar and wind power.

In contrast, the report places less emphasis than previous recommendations on currently expensive and emerging technologies, such as hydrogen power or “direct air capture” – essentially huge machines that filter carbon from the air. This is very welcome as it keeps the focus on decarbonisation, rather than emitting now and cleaning up later.

This shift is particularly evident when examining individual sectors, where the focus is on scaling up existing solutions rather than banking on future technological breakthroughs.

Surface transport, for instance, accounts for about a quarter of the UK’s emissions. The report places heavy reliance on electric vehicles (EVs), projecting that they will be responsible for 72% of all surface transport emissions reduced between 2025 and 2050.

To put this into perspective, from this point forward, the UK would need to substantially outpace Norway, the current global leader in EV adoption. In contrast, only 11% of total emissions reductions are attributed to people shifting from driving to public transport or walking and cycling.

Switching from gas boilers to heat pumps like these will deliver most household emissions savings.
Wozzie/Shutterstock

Electrification is also expected to be the primary driver of emissions reductions in both homes and the industrial sector, mostly through replacing gas heating with heat pumps. This will be a particular challenge in industries which require high temperature heat pumps, a technology that hasn’t been installed yet.

Efficiency measures and unsustainably high consumption patterns receive less attention in the industry section. In homes, improved insulation will reduce demand though there is little space for new and additional energy saving actions.

In the food and farming sector, the report identifies three roughly equal sources of emissions reductions: low-carbon farming, reductions in livestock numbers, and land management improvements. The reduction in livestock numbers primarily reflects lower meat and dairy consumption, while the other measures rely predominantly on technological solutions.

Overall, this is a very welcome report from the Climate Change Committee with a robust analysis that lets the government, industry and citizens know that the pathway to net zero is possible and very much needed. However, it does place enormous responsibility on some key technologies and their rapid roll out to achieve these goals.

As the UK government digests the findings, my colleagues and I would suggest greater consideration of the “social” transformation that examines how we travel and what we buy, to fully unlock the benefits of net zero.

Don’t have time to read about climate change as much as you’d like?

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John Barrett receives funding by the Priestly Centre for Climate Futures where he holds the position of Deputy Director of Policy. He is also funded by a UKRI centre, called the Energy Demand Research Centre where he is the Futures theme lead.

– ref. Will the UK’s proposed long-term emissions strategy get us to net zero? An expert review – https://theconversation.com/will-the-uks-proposed-long-term-emissions-strategy-get-us-to-net-zero-an-expert-review-250845

MIL OSI – Global Reports –

February 27, 2025
MIL-OSI Global: The world needs a circular economy. But workers in developing countries shouldn’t pay the price

Source: The Conversation – UK – By Sukyung Park, Assistant Professor in International Business, Strategy, and Innovation, Loughborough University

hanohiki/Shutterstock

The circular economy offers a fresh approach to how we produce and consume, focusing on reducing, reusing, recycling and recovering. It moves us away from the traditional “make, use, discard” model, creating a more sustainable system to balance the needs of the economy, society and nature. Living within the planet’s limits is vital if we are to fight climate change, biodiversity loss and the twin crises of waste and pollution.

But that’s not all the circular economy is important for. In promoting resource efficiency and reducing dependency on finite materials, it can also encourage innovation and job creation.

Advances in biomaterials, for instance, are providing durable and recyclable alternatives to plastic packaging. And innovative approaches to textiles are enabling manufacturers to make fibres from agricultural waste.

But all this comes at a cost – and raises the question of who should pay. While the circular economy offers promising solutions to environmental and economic challenges, the transition raises critical questions about equity. It’s vital to include the workers and communities from developing countries at every stage of the transition.

Despite the potential of a circular economy to bring long-term benefits to both society and the environment, access to resources is uneven. There are also economic disparities. A lack of funding, insufficient investment and skills gaps make the shift towards a circular economy challenging for some developing countries.

And power dynamics are shifting across industries and regions. The circular transition can hit utility companies (electricity, gas and water) as demand from other firms falls. At the same time, in some countries it can bring significant gains to sectors such as construction – possibly driven by manufacturing firms investing in new buildings after saving money on material and energy costs.

In a recent review of 167 studies of the circular economy, we found that there was limited focus on democratic planning. Communities were not involved enough in decision-making about the transition to a circular economy – especially in low-income countries. Local workers and communities being shut out of decision-making and excluded from opportunities, such as green jobs in renewable energy or sustainable design, could worsen inequalities. This is particularly the case in low-income areas with limited resources and economic resilience.

In developing countries, persistent problems including low wages and poor working conditions can continue even as circular practices gain momentum, unless these concerns are integrated into the model. In the fashion industry, for example, workers face the same precarious working conditions regardless of whether they are working with virgin or recycled materials.

And new tensions are emerging over who benefits and loses in the transition to a circular economy. For example, a textile factory owner in the Tamil Nadu region of India voiced concerns that slower fashion cycles – promoted by circular initiatives in wealthier countries – could threaten jobs and livelihoods, making the case (in the words of one interviewee) for “much faster fashion”.

Without careful planning, textile workers in developing countries could lose their livelihoods in the transition to a circular economy.
Ruma Dey Acharya/Shutterstock

Among textile manufacturers, secondhand clothing was seen in a negative light as it might decrease the need for new products. The recycling industry on the other hand was booming in the same area and was seen as a positive thing. This was reflected in the words of a textile factory manager: “It’s my message (to not) reuse, we can recycle so that we get some work in the future.”

Nevertheless, even recycling was not considered to be a purely positive thing. Many cotton farmers dependent on traditional production face disruption to their livelihoods as recycled textiles gain popularity.

This is in stark contrast to the narrative in the developed economies, where circular strategies advocating “buy nothing” or slow fashion cycles are championed for their environmental benefits.

A path forward

To ensure the circular economy benefits everyone, it is crucial to address its social dimensions. Policies and strategies often overlook marginalised voices, particularly in developing countries. Inclusive circular economy models must be rooted in local contexts, reflecting the unique socio-economic realities of these regions.

Grassroots entrepreneurs in places where resources are scarce are well positioned to create innovative, locally tailored solutions. Supporting their efforts can lead to practices that address the challenges of their communities while contributing to broader circular goals. Recognising and nurturing this local capacity is essential for a sustainable and fair transition.

International organisations, national governments, and businesses play a pivotal role in driving inclusivity. Initiatives should be judged not only on environmental and economic outcomes but also for their impact on jobs, livelihoods, education, equity and justice. Businesses must engage with local communities to share knowledge, resources, costs and profits equitably between developing and developed nations.

This could be funding local innovators, supporting small enterprises or promoting cross-border collaboration on circular practices. For example, circular economy finance and international partnerships can help develop affordable energy solutions for low-income communities and engage developing countries in circular value chains to collect and process e-waste components. International frameworks, such as the EU’s Just Transition Mechanism, must ensure that no one is left behind. And businesses should guarantee living wages in global circular supply chains.

There’s a risk the circular economy could perpetuate inequalities. That’s why it is vital to reach people at even the far end of supply chains to ensure they are included in decisions and transitions. An equitable circular economy is not just an environmental or economic necessity – it’s also a moral imperative.

Anna Kristiina Härri receives funding from the Strategic Research Council of Finland. She is affiliated with the Greens in Finland.

Jarkko Levänen has received funding from the Research Council of Finland and Business Finland.

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

– ref. The world needs a circular economy. But workers in developing countries shouldn’t pay the price – https://theconversation.com/the-world-needs-a-circular-economy-but-workers-in-developing-countries-shouldnt-pay-the-price-246453

MIL OSI – Global Reports –

February 27, 2025
MIL-OSI USA: Sens. Moran, Padilla, Hirono, Lankford Introduce Bill to Promote Wildfire Mitigation Through Wildlife Grazing

US Senate News:

Source: United States Senator for Kansas – Jerry Moran
WASHINGTON – U.S. Senators Jerry Moran (R-Kan.), Alex Padilla (D-Calif.), Mazie Hirono (D-Hawaii) and James Lankford (R-Okla.) introduced legislation to promote research on how grazing can support wildfire mitigation, fuels reduction and post-fire recovery.
Several states have implemented pilot programs in which animals like goats and cattle, called “ungulates,” have grazed on prescribed areas of land containing highly flammable grasses and shrubs to mitigate fire risk. These pilot efforts have successfully reduced vegetation that can fuel rapid fire growth. However, limited scientific research has been conducted on optimal grazing land management techniques that also protect against other environmental harms.
To address this critical research gap, the Wildfire Resilience Through Grazing Research Act would add the “Grazing for Wildfire Mitigation Initiative” to the National Institute of Food and Agriculture’s High-Priority Research List.
“Using grazing as a way to reduce wildfires is both beneficial to our ranchers and important to eliminating the grasses that accelerate fires on the prairie,” said Sen. Moran. “Kansans have faced devastating wildfires in recent years and understand the importance of proactively working to keep our land healthy and free of undergrowth that can make these fires worse.”
“As devastating wildfires pose increasingly severe threats to our communities, we need to explore out-of-the-box approaches to blunt these disasters,” said Sen. Padilla. “Grazing animals like goats and cattle have been successfully used to reduce the hazardous brush that fuels wildfires. Expanding our understanding of novel grazing strategies can make it a cost-effective tool to save lives and protect homes.”
“As the people of Lahaina continue to recover from the devastating wildfires in 2023, we recognize just how necessary it is to pre-emptively reduce wildfire risk,” said Sen. Hirono. “As wildfires occur with increasing frequency across the country, this legislation is a crucial step to help strengthen community resilience by studying the implementation of grazing as a strategy for reducing vegetation that can fuel wildfires. I’m glad to join my colleagues in introducing this important bill to help prevent wildfires and protect our communities.” This legislation is supported by the Kansas Livestock Association.
“The Nature Conservancy welcomes this bill as a jump start for the utilization of grazing as a tool for wildfire risk reduction,” said Whitney Forman-Cook, Senior Policy Advisor for Forests and Fire at The Nature Conservancy. “In our Roadmap for Wildfire Resilience, we recommend federal land management agencies research and implement new strategies for forest and rangeland fuels reduction treatments at landscape scales. Targeted grazing satisfies that call for a new, cost-effective approach to promoting both drought and wildfire resilience while maintaining rangeland health.”
The Wildfire Resilience Through Grazing Research Act would:

Support research and development of grazing land management techniques for wildfire mitigation and recovery by driving research at land-grant colleges and universities like the Kansas State University, University of California system, University of Hawai?i at M?noa and Oklahoma State University.
Promote the dissemination of information on these wildlife grazing land management techniques to public and private landowners, land managers and livestock owners, including land management activities that protect against negative environmental impacts and improve soil health.

Full text of the bill is available here.

MIL OSI USA News –

February 27, 2025
MIL-OSI USA: Attorney General Pamela Bondi Urges States to Comply with Federal Law by Keeping Men Out of Women’s Sports

Source: US State of North Dakota

Today, Attorney General Pamela Bondi issued letters to officials in California, Maine, and Minnesota warning them to comply with federal antidiscrimination laws that require them to keep men out of women’s sports.

“This Department of Justice will defend women and does not tolerate state officials who ignore federal law,” said Attorney General Pamela Bondi. “We will leverage every legal option necessary to ensure state compliance with federal law and President Trump’s executive order protecting women’s sports.”

As President Trump’s recent executive order on this subject explains, allowing men and boys to compete in women’s and girls’ sports “is demeaning, unfair, and dangerous to women and girls.” The practice is also illegal under federal law: it denies women and girls the equal opportunity to participate and excel in competitive sports, in violation of Title IX of the Educational Amendments Act of 1972.

MIL OSI USA News –

February 27, 2025
MIL-OSI Russia: Denis Manturov headed the supervisory board of Bauman Moscow State Technical University

Translartion. Region: Russians Fedetion –

Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

First Deputy Prime Minister Denis Manturov has been elected Chairman of the Supervisory Board of Bauman Moscow State Technical University. The creation of the Supervisory Board of Bauman Moscow State Technical University is connected with the new status of the university as an autonomous educational institution.

“Thank you for supporting my candidacy. It is a great responsibility for me to coordinate the development of our legendary engineering university, whose history goes back almost 200 years. Needless to say, how many outstanding visionaries have emerged from the university over these years. And today, Bauman Moscow State Technical University remains a support university for leading enterprises of Russian industry. It ensures an annual influx of about 5 thousand qualified specialists into the real sector. It conducts research and development in the interests of large industrial partners, as well as through state defense procurement,” Denis Manturov noted.

The First Deputy Prime Minister emphasized the need for maximum involvement of the university in the implementation of national projects of technological leadership and strengthening its ties with industrial enterprises and executive authorities.

“Such a representative composition of the council reflects the close relationship of the university with specialized departments, business, industry, our customers and future employers of our students. Interaction in this format, in support of the autonomous status, will allow us to better understand our strategic partners, become more adaptive and develop the most effective approaches in response to the major challenges that engineering education and science face today, to ensure sustainable technological leadership of our country,” said Mikhail Gordin, Rector of Bauman Moscow State Technical University.

Denis Manturov also visited the building of the university’s advanced engineering school. The centers and laboratories of the building train systems engineers in the field of rocket and space technology. Students, postgraduates and employees of industry enterprises solve current applied problems of space exploration here. The First Deputy Prime Minister visited the M.P. Arzhakov Engineering Center – the Competence Center of the Tactical Missile Weapons Corporation and the ProKIT design bureau, where students design and assemble small spacecraft of the CubeSat format. Currently, seven Bauman CubeSats, launched as part of the UniverSat program, are operating in space. Every day, they collect and transmit data to Earth for space weather forecasting, as well as monitoring the movement of sea and river vessels.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

February 27, 2025
MIL-OSI Security: Attorney General Pamela Bondi Urges States to Comply with Federal Law by Keeping Men Out of Women’s Sports

Source: United States Attorneys General 1

Today, Attorney General Pamela Bondi issued letters to officials in California, Maine, and Minnesota warning them to comply with federal antidiscrimination laws that require them to keep men out of women’s sports.

“This Department of Justice will defend women and does not tolerate state officials who ignore federal law,” said Attorney General Pamela Bondi. “We will leverage every legal option necessary to ensure state compliance with federal law and President Trump’s executive order protecting women’s sports.”

As President Trump’s recent executive order on this subject explains, allowing men and boys to compete in women’s and girls’ sports “is demeaning, unfair, and dangerous to women and girls.” The practice is also illegal under federal law: it denies women and girls the equal opportunity to participate and excel in competitive sports, in violation of Title IX of the Educational Amendments Act of 1972.

MIL Security OSI –

February 27, 2025
MIL-OSI Canada: Showing support on Pink Shirt Day: Ministers Turton and Nicolaides

Source: Government of Canada regional news (2)

“When Albertans and Canadians across the country wear pink, we take a stand against bullying and show those who have experienced bullying they are not alone.

“Pink Shirt Day is dedicated to raising awareness about bullying and promoting kindness, empathy and respect in our communities. It is a reminder that each person makes a difference by choosing to be kind and respectful in their daily lives.

Searle Turton, Minister of Children and Family Services

“All students deserve to feel safe, welcome and respected in school. Alberta Education recognizes that preventing bullying is a shared responsibility – one that includes parents, students, teachers and the wider community. On Pink Shirt Day, we encourage all Albertans to wear pink to honour the courageous students who first started this movement to stand up against bullying in 2007. The initiative shown by those students serves as a reminder that bullying has no place in schools – or anywhere else – and that each of us can drive positive change.

“By wearing pink, we send a clear message of unity against all forms of bullying. This simple act fosters inclusive environments where everyone feels safe and valued. Whether in the classroom or our broader communities, our actions matter. Let’s continue to choose kindness and ensure that every individual feels respected, supported and included.”

Demetrios Nicolaides, Minister of Education

MIL OSI Canada News –

February 27, 2025
MIL-OSI United Nations: WFP and Spain launch first-time partnership to enhance access to education and food security in upper Egypt

Source: World Food Programme

Assiut, EGYPT – The United Nations World Food Programme (WFP) in Egypt and the Spanish Agency for International Development Cooperation (AECID) have launched a first-time partnership to support Egypt’s national school feeding programme. With a focus on school-based support and cash assistance, the collaboration aims to improve food security and nutrition for students, teachers, and families among Egypt’s most vulnerable communities in Assiut governorate in Upper Egypt.

With a contribution of EUR 650,000 from the Spanish Cooperation, WFP will support about 4,100 community school[1] students and their family members through school feeding, conditional cash assistance, and awareness-raising sessions.

Over the course of the two-year programme, students will receive daily fortified in-school snacks in the form of date bars, securing 25% of their daily caloric needs. As part of the national safety net “Takaful and Karama”, students’ families will also receive monthly cash transfers, conditional on their child achieving an 80% school attendance rate. This initiative helps incentivize education and improve families’ ability to secure their basic needs, while helping reduce school dropout rates, child labour and early marriage among girls.

Additionally, the supported community schools will serve as hubs for awareness-raising activities focused on social and behavioural change, promoting healthy nutrition, gender equality, and inclusion among students, parents, and the wider community.

To mark the launch of the programme, WFP Egypt Representative and Country Director, Jean-Pierre de Margerie, Spanish Ambassador to Egypt, Álvaro Iranzo, and Head of the Spanish Cooperation in Egypt, Eva Suárez, visited one of the participating community schools in Assiut. They engaged with students, families, and teachers to discuss the programme’s activities and met with women and youth who have benefitted from the proven success of WFP’s already ongoing vocational training programme.

“We are thrilled to launch this first-time partnership with the Spanish Cooperation complementing Egypt’s national school feeding programme. As the world continues to face socio-economic challenges, this collaboration not only invests in children’s education and nutrition, but it provides an essential safety net for vulnerable families. By alleviating financial pressures and promoting consistent school attendance, we are helping communities build resilience and improve their food security,” said Jean-Pierre de Margerie, WFP Egypt Representative and Country Director.

“In partnership with Spain and the Egyptian government, we are addressing immediate needs while also laying long-term stability and opportunities for children and their families,” added de Margerie.

“Spain is committed to leaving no one behind in a situation of vulnerability, through all instruments and the collaboration of all cooperation actors, including international development and humanitarian agencies, with WFP being one of the actors that receives regular and established contributions from our government,” said Álvaro Iranzo, Spanish Ambassador to Egypt.

“We hope that this project, which is inaugurated today, will lay the foundations for a fruitful cooperation between Spanish Cooperation and WFP in Egypt to jointly contribute to the achievement of SDG 4: Equitable, inclusive and quality education and lifelong learning, and SDG 2: Food security and the fight against hunger, in order to achieve sustainable human development worldwide,” added Iranzo.

“This project, which is being inaugurated today, is the first one funded by the Spanish Agency for International Development Cooperation (AECID) for the World Food Programme in Egypt, with a budget of €650,000 to achieve “Improvement in access to education and nutrition through sustainable interventions in schools and cash transfers to help students, teachers, and households in vulnerable situations,” said Eva Suárez, Head of the Spanish Cooperation in Egypt.

“It is highly appreciated that the project is being carried out in the province of Assiut, given its geographical dimensions, as well as its difficulties in achieving good access to education and full food security. Therefore, we consider that the selection of this location is very favourable to ensure that no one is left behind and to increase human development in all provinces of Egypt,” added Suarez.

This new partnership builds on WFP’s ongoing programmes—ranging from nutrition and support for refugees and migrants to the empowerment of women and youth, as well as rural development—benefiting over 830,000 people in 2024 alone.

# # #

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

Follow us on Twitter @WFP_Egypt

And on Instagram @WFP_Egypt

[1] Community schools are one-classroom, multi-grade schools established in remote areas to help students who have missed out on education reintegrate into the school system.

MIL OSI United Nations News –

February 27, 2025
MIL-OSI United Kingdom: expert reaction to a modelling study suggesting that AMOC may be resilient to future warming

Source: United Kingdom – Executive Government & Departments

February 26, 2025

A modelling study published in Nature suggests that Atlantic Meridional Overturning Circulation (AMOC) may withstand climate extremes.

Dr Alessandro Silvano, Oceanographer, University of Southampton said:

“AMOC will control extreme weather events, sea level rise and temperature over many areas, including Europe, and communities will need to adapt to changes, especially in case of collapse. This new study shows that what will happen is still not completely clear and a more “global approach” is needed, an approach that looks at the ocean as one large scale system where changes on one side of the planet can control what happens on the other side.

“Whether an AMOC collapse could occur is one of the most pressing questions for the scientific community. Especially if this can happen over the next century. Some studies suggest the AMOC might be approaching a tipping point, others instead suggest AMOC to be more resilient to change in CO2 concentrations, melting of the Greenland Ice Sheet and changes in the precipitation. Therefore, at present, there is a debate about a potential collapse, while an AMOC weakening seems likely.”

Dr René van Westen, Postdoctoral Researcher, Royal Netherlands Meteorological Institute, (KNMI), said:

“The press release for this paper slightly oversells the point that the AMOC is ‘able to withstand future global warming’. In fact, the study still supports the conclusion that the AMOC is expected to severely weaken under extreme climate change, which is in line with the results from the latest IPCC report.

“The study’s results should certainly not be interpreted as showing that AMOC is a resilient system, given it finds that the AMOC still reduces to (very) weak strengths under human-caused global warming.

“In principle it is possible that all the AMOCs reached their collapsed state by the end of the 150-year long simulation. This can only be tested by continuing the simulation much longer to reach an equilibrium state, the simulations are too short to verify this. Nevertheless, the authors clearly demonstrate that the AMOC does not fully collapse (i.e. to 0 Sv strength) under 4xCO2 and show a prominent role for the Southern Ocean and Indo-Pacific Ocean.

“The study is still an exciting contribution to the literature. One of its key strengths is the inter-model comparison analysis under both 4xCO2 and hosing set-up. The authors show a clear relation in 34 different CMIP6 and demonstrate why the AMOC remains in a (very) weak state.

“It also demonstrates an important role for Southern Ocean dynamics, also suggested by previous research. However, Southern Ocean dynamics can only be adequately captured with high-resolution climate models in which large swirls (i.e., ocean eddies) are resolved. None of the 34 climate models used in this study have such a high resolution. It would be very interesting to see whether the proposed mechanism remains robust when resolving these swirls.

“The key message of this paper is that the AMOC may be partly stabilised by ‘remote’ (i.e. outside the Atlantic Ocean) feedback processes. It is therefore good to consider these remote feedback processes when analysing the AMOC in future work. This will help to understand the future AMOC trajectory under climate change.”

Prof Stefan Rahmstorf, Head of Research Department, Potsdam Institute for Climate Impact Research, said:

“This new paper does not (and does not claim to) contradict other modeling studies about future AMOC changes and their climatic impact.

It has been well-established since the 1990s that the AMOC has a smaller, shallower part which is driven by the winds, meaning that a part remains once the density-driven (thermohaline) overturning has stopped. However, that wind-driven part is not nearly as important for climate as the part driven by differences in sea-water density. It is the latter which has a tipping point.

In previous studies about the risk of future AMOC collapse, the wind-driven part also persists since the winds won’t stop blowing, so this is not new information. The new study investigates the remaining wind-driven overturning in more detail, which is a valuable contribution to the scientific literature. It does not, however, change the assessment of the risk and impact of future AMOC changes in response to human-caused global warming.

A false impression of contradicting our and other results may however easily arise from their different usage of the word ‘AMOC collapse’. To the new paper, this word implies zero or negative overturning in the North Atlantic north of the equator below 500 m, while in previous studies this term has been used for states with greatly weakened AMOC. The new study has used the same models as previous studies and its findings change nothing about the climate risk of a major AMOC weakening, which remains significant and would have global ramifications.”

Dr Joel Hirischi, Associate Head of Marine Systems Modelling, UK’s National Oceanography Centre (NOC), said:

Does the press release accurately reflect the science?

“Yes, it does. As it stands, the only bit that could be confusing is the statement saying that “…AMOC can only collapse if a Pacific meridional overturning circulation (PMOC) develops”.

“It would be clearer to say that for the AMOC to stop, the Southern Ocean upwelling must be entirely compensated in the Pacific Ocean.

“The authors clarify this later in the press release but it would be better to say this upfront.

Is this good quality research? Are the conclusions backed up by solid data?

“I enjoyed reading this article and I find the research to be of excellent quality. The work and methodology are closely related to an earlier study by the same authors in Geophysical Research Letters but the key message about AMOC stability is new.

“The authors used a large number of numerical models and the key results are robust across a range of model solutions. This enhances my confidence that the key findings of the study are robust.

How does this work fit with the existing evidence?

“This latest work fits nicely in the ongoing debate as to whether the AMOC is likely to shut down or not as climate warms. During the last two years, several studies have re-ignited the debate about whether the AMOC is likely to shut down, suggesting that the AMOC is more likely to shut down than we previously expected. This study provides a counterbalance and provides evidence for stabilising AMOC mechanisms linked to winds in the Southern Ocean.

“Direct observations of the AMOC do not suggest that the AMOC is shutting down and the results from this study are consistent with a view that the AMOC is not in immediate danger of shutting down.

Have the authors accounted for confounders? Are there important limitations to be aware of?

“The numerical models used in this study test the impact of a very strong greenhouse gas forcing (4xCO2) or a freshwater hosing north of 50N in the Atlantic. Neither the CO2 forcing nor the hosing on their own can cause the AMOC to shut down.

“In our warming world, both global CO2 concentrations and freshwater discharge into the North Atlantic, are increasing in parallel. It is not obvious how both effects put together would combine. The possibility of non-linear, amplifying AMOC interactions possible. To test that would require a new set of numerical experiments where CO2 and freshwater forcing are applied at the same time.

“The models used in the study typically have a low spatial resolution (in the order of 100km). Important features, such as ocean mesoscale eddies are missing and sharp temperature and salinity fronts are not realistically simulated. How strongly this affects the findings reported in this study, we do not yet know.

What are the implications in the real world? Is there any overspeculation?

“The study highlights the importance of the wind-driven Southern Ocean upwelling to understand the AMOC and its stability. Observations in the North and South Atlantic, where the AMOC is currently being observed may not be enough to decide where the AMOC is heading and knowing the amplitude and variability of the wind-driven Southern Ocean upwelling could be key.

“The authors are careful and their results should be considered when discussing the probability of a future AMOC shut down. The applied perturbations are large: 4xCO2 is higher an anomaly than what we will get – even in a pessimistic outlook. The freshwater discharge (0.3 Sv = 300000 m^3/s) applied during 100 years is roughly equivalent to melting about 1/3 of the Greenland ice sheet. Both perturbations are large compared with what we will likely experience in the real World.”

Sofia Palazzo Corner, PhD Researcher at the Centre for Environmental Policy, Imperial College London, said:

“This paper investigates the AMOC response to extreme climate change and finds that as waters continue to be pulled to the surface by wind in the Southern Ocean, so must waters sink elsewhere.

“This leads to two important results: an AMOC that weakens but doesn’t shut down completely, and the formation of a new overturning circulation in the Pacific: a PMOC.

“Though AMOC here shows resilience to complete collapse, ocean circulation definitely does not show a general resilience to climate change. Even a weakened AMOC will result in major impacts to global and regional climate, and the formation of a new overturning circulation in the Pacific is an extraordinary and dramatic change to global ocean dynamics.

“What’s unambiguous is that increasing carbon emissions are increasing the risk of major changes in global ocean circulation, including the AMOC. This study takes an extreme case to investigate the interactions between the Atlantic, the Southern Ocean and the Pacific, and finds that although the AMOC does not collapse completely, there is significant weakening, and a major transformation in the Pacific Ocean to accommodate the new balance between rising and sinking waters.

“These results are a signal to pay increased attention to other parts of the global ocean which may hold clues to the trajectory of AMOC in the 21st century.”

Prof Jonathan Bamber, Director of the Bristol Glaciology Centre, University of Bristol, said:

“This paper presents a careful and thorough analysis of how the AMOC responds to both extreme greenhouse gas and freshwater forcing that could result from accelerated fossil fuel consumption and increased melting of the Greenland Ice Sheet. Their analysis is based on examining 34 state of the art climate models and strongly suggests that the AMOC is not close to a tipping point for present-day and near-future climate. That is good news. While they find no evidence for a switch off or collapse of the AMOC they do find a weakening in all cases and this, alone, should be cause for concern. Because the AMOC is responsible for so much of the oceanic poleward heat transport, changes in its strength have a huge impact on the climate of northwest Europe and globally.

“A collapse of the AMOC would be devasting for civilisation so it is understandable that there has been a lot of focus on whether this might happen in the near future but a weakening of the AMOC should also be of concern. While it might not grab the headlines in the same way and its impact is a little more complicated to explain, it is still extremely important to model, understand, monitor and predict.”

Dr Lee de Mora, Marine Ecosystem Modeller, Plymouth Marine Laboratory, said:

“The Atlantic Meridional Overturning Circulation is hugely important to the global climate, influencing heat transport, carbon drawdown and deep water formation. Despite its importance, the future of the AMOC is not yet fully understood.”

“On one hand, the climate models from Coupled Model Intercomparison Project Phase 6 (CMIP6) universally projected a weakening in the AMOC as temperatures increase, but they did not project a full collapse to zero at any warming level. On the other hand, some experiments have suggested that the AMOC is too stable in those CMIP-style models, and the real AMOC may be more prone to collapse.”

“This paper from Baker et al. identifies AMOC-stabilizing mechanisms in the Southern Ocean and Pacific Ocean that may explain why the CMIP6 models have a stable AMOC”.

‘Continued Atlantic overturning circulation even under climate extremes’ by Baker et al. was published in Nature at 16:00 UK time on Wednesday 26 February.

DOI: 10.1038/s41586-024-08544-0

Declared interests

Dr Alessandro Silano “None”

Dr. René van Westen “None”

Prof Stefan Rahmstorf “None”

Dr Joel Hirischi “None”

Sofia Palazzo Corner “No interests to declare. I’m a PhD student funded by the Grantham Institute, and research assistant funded by ESM2025.”

Prof Johnathan Bamber “I am a member of the Advisory Committee for Earth Observation of the European Space Agency and a member of the European Space Science Committee, which receives funding from a number of national space agencies. I also receive funding from the European Commission.”

Dr Lee de Mora “LdM was supported by the UK Natural Environment Research Council through The UK Earth System Modelling Project (UKESM, grant no. NE/N017951/1) and by the UK Natural Environment Research Council through the TerraFIRMA: Future Impacts, Risks and Mitigation Actions in a changing Earth System project, Grant reference NE/W004895/1.”

MIL OSI United Kingdom –

February 27, 2025
MIL-OSI United Kingdom: Ambitious budget set to empower communities and support the most vulnerable
Source: Scotland – City of Perth

Despite the costs of providing essential services continuing to rise, flexibility from a three-year Council Tax strategy and additional funding from the Scottish Government meant that Councillors were able to agree a budget for each of the next three years which prioritises services for the most vulnerable, avoids further public sector job cuts, and invests in community empowerment and business growth. All with a lower Council Tax increase than originally proposed.

The agreed Council Tax increase for 2025/26 is 9.5%. This follows a freeze in the current year. For people living in a Band D property, this represents a £2.56 weekly increase, or £11.11 more a month. Provisional increases have also been agreed of 9.5% for 2026/27 and 6% for 2027/28.

Key investments agreed:
- Protecting vital services for residents in the greatest need – the budget prioritises vulnerable residents, with almost £7 million to maintain health and social care services, plus £1 million over two years to support innovation and provide new models of delivering care in our communities.
- Protecting frontline jobs – no further job cuts are required as part of the budget decisions made today, with over £2 million being put back into Education and Learning to reverse proposed reductions in teacher numbers and £400,000 to prevent further cuts to teams supporting vulnerable children and families. Council officers are continuing to deliver on phase 2 of the leadership savings agreed last year.
- Empowering communities – the budget includes £1 million to support community resilience, £1 million for Culture Perth and Kinross services, and almost £150,000 in community sports.
Council Leader, Councillor Grant Laing, said: “Community groups are an essential part of delivering on local ambitions, and I’m proud that this budget creates more opportunities than ever before to put them at the heart of local decision-making. From additional funding for Bloom groups and Community Councils, to investing in community resilience and community sports, there’s lots we have been able to do.

“We’ve also listened to the community members who have campaigned in support of their rural libraries, and allocated money over two years to allow Culture Perth and Kinross to maintain current premises and opening hours. But, this funding is contingent upon the energy and commitment shown by those supporters now being directed towards working with CPK to plan and implement sustainable futures for those libraries.”

Additional key investments include:
- Economic growth – £9 million over four years in the Commercial Property Investment Programme to make more units available for new and growing businesses, particularly in rural Perth and Kinross.
- Environmental initiatives – £200,000 to provide practical support to Bloom and biodiversity groups to accelerate the delivery of the biodiversity aims of our Grow Wild approach to greenspaces. And, another £200,000 to deliver a new round of the Green Living Fund for community projects.
- Public transport – almost £170,000 to extend the offer for free bus travel on the first Saturday of every month for another year, adding extra free travel for Clean Air Day in June and for an additional free Saturday in December in the peak Christmas shopping season. Plus, almost £70,000 for rural bus services and community transport initiatives.
- Tackling poverty – adding £2 million to target anti-poverty initiatives, including continuing school holiday food and fun activities, and investing in efforts to tackle poverty in rural areas.
Councillor Laing added: “One of our key priorities is to tackle poverty head-on. We are investing in job creation and growth schemes, such as apprenticeships and rural employability programs, to provide more opportunities for our residents. Additionally, we are adding £2 million to our anti-poverty funding and allocating £600,000 to the Financial Insecurity Fund and Scottish Welfare Fund. This will ensure that we can support those facing financial challenges and help them access the discounts and benefits they are entitled to.

“Our Welfare Rights Team does a fantastic job in helping maximise income for households in financial need. By investing further in this team, we can support even more households and ensure that everyone in our community has the resources they need to thrive.
“With this ambitious budget, we are not only addressing immediate needs but also laying the foundations for a resilient and thriving community. Together, we are building a brighter future for Perth and Kinross.”
MIL OSI United Kingdom –
February 27, 2025
MIL-OSI: ThoughtSpot Appoints Brad Roberts as Chief Financial Officer to Drive Growth and Scalability in the AI Era

Source: GlobeNewswire (MIL-OSI)

MOUNTAIN VIEW, Calif., Feb. 26, 2025 (GLOBE NEWSWIRE) — ThoughtSpot, the AI-native Intelligence Platform, has announced the appointment of Brad Roberts as Chief Financial Officer (CFO). This strategic appointment to the leadership team underscores ThoughtSpot’s commitment to building a trusted AI company that drives industry innovation in the era of AI and agentic analytics.

Roberts, a seasoned executive finance leader, brings over thirty years of experience in the technology industry, having served as a CFO and interim CFO for high growth technology companies including Addepar and Panorama Education, among others. He also spent nearly a decade at Synopsys, supporting and managing growth from $400M to $1.3B in his tenure and another decade in the technology practice of strategy consulting firm, Bain & Company.

“Brad exemplifies the financial leadership that is crucial as we accelerate our growth and solidify our position as a leader in AI-powered analytics intelligence,” said Ketan Karkhanis, Chief Executive Officer at ThoughtSpot. “His experience is not only valuable, it becomes an asset to our roadmap at ThoughtSpot as we take advantage of the AI opportunity in front of us and build ThoughtSpot 3.0, powering the autonomous enterprise and leveraging agentic AI for all.”

As AI redefines business intelligence, trust becomes a key catalyst for future buying decisions. Roberts’ leadership, in collaboration with the executive team, will be instrumental in empowering customers to confidently leverage ThoughtSpot’s intelligence platform and positions ThoughtSpot to take advantage of the moment and continue their leadership position in AI-driven intelligence.

“ThoughtSpot is uniquely positioned to drive transformational change across customers using agentic AI for management insights and process efficiencies.The opportunity ahead enables us to evolve from a high-growth company into an industry-defining leader,” said Brad Roberts, Chief Financial Officer at ThoughtSpot. “Ketan and the leadership team have set a bold and urgent vision, providing a clear path forward for my role. Finance will be a strategic enabler, fueling innovation, expanding our product portfolio, and powering the next phase of ThoughtSpot’s evolution.”

Roberts joins ThoughtSpot after posting significant fiscal growth in Fiscal Year 2024, closing with 40% year-over-year SaaS growth and more than doubling its monthly active users. ThoughtSpot also unveiled a significant expansion to the company’s artificial intelligence capabilities with the launch of Spotter, an agentic AI analyst, followed by the launch of Analyst Studio, a creator space that empowers data teams to get data ready for AI and analytics.

In the last year, ThoughtSpot has appointed several leaders, including Ketan Karkhanis as Chief Executive Officer, Ahmed Quadri as Chief Customer Officer, Anthony Lee-Masis as Chief Information Security Officer, and Francois Lopitaux as SVP and General Manager of Emerging Technologies and Products.

Roberts holds an MBA from Harvard Business School as well as bachelor’s degrees from the University of Pennsylvania Wharton Business School and the School of Engineering and Applied Science.

About ThoughtSpot
ThoughtSpot is the AI-native Intelligence Platform for every enterprise. Our mission is to create a more fact-driven world by empowering everyone to explore any data, ask any question, and uncover actionable insights faster—leading to growth, better business outcomes, and efficiency in their organizations. With ThoughtSpot’s intuitive natural language search, every user can confidently generate answers from their business data at every point of decisioning. The platform’s unified capabilities, along with our agentic AI analyst, Spotter, enable users to create precise, transparent, personalized, and actionable insights with enterprise grade trust, security, and scale. Accessible via the web and mobile app, ThoughtSpot ensures intelligent decision-making happens seamlessly, wherever and whenever needed. For developers, ThoughtSpot Embedded offers a low-code solution to integrate AI-powered analytics directly into products and services, driving data monetization and boosting user engagement for customers. Industry leaders like NVIDIA, Hilton Worldwide, Capital One and Huel rely on ThoughtSpot to transform how their employees and customers take advantage of data to create better business outcomes. Try ThoughtSpot today and experience the new era of analytics.

PR Contact:
Lindsay Noonan
Director of Communications, ThoughtSpot
press@thoughtspot.com

The MIL Network –

February 27, 2025
MIL-OSI: Johanna Bartee Appointed to Boards of First Fed and First Northwest Bancorp

Source: GlobeNewswire (MIL-OSI)

PORT ANGELES, Wash., Feb. 26, 2025 (GLOBE NEWSWIRE) — First Northwest Bancorp (NASDAQ: FNWB) and its subsidiary First Fed Bank are pleased to announce the appointment of Johanna Bartee to the Board of Directors for both companies.

Ms. Bartee brings extensive experience in banking, finance, and economic development, along with a strong commitment to community-driven initiatives across the North Olympic Peninsula.

“We are thrilled to welcome Johanna to our Board of Directors,” said Matt Deines, President and CEO of First Fed Bank and FNWB. “Her expertise in finance and community development will be invaluable as we continue to serve our customers and communities.”

Ms. Bartee is the Executive Director of JST Capital, a Native Community Development Financial Institution (CDFI) in Sequim, WA, dedicated to supporting underserved communities. Before founding JST Capital in 2018, she built a successful career in finance, working in institutional banking, investment banking, and business development roles at leading financial firms in New York and Southern California. Prior to completing an MBA at Columbia Business School, she managed large-scale communications and IT security projects as an Account Manager for a Department of Defense contractor in Honolulu, Hawaii.

Beyond her professional achievements, Ms. Bartee is actively involved in community development. She serves as a Board Director for the Clallam County Opportunity Fund and is a member of the Port Angeles Waterfront District Board, advocating for economic growth and revitalization initiatives.

Ms. Bartee’s appointment reflects First Fed’s commitment to strengthening its leadership with professionals dedicated to fostering economic and social impact.

About FNWB

First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently First Fed has 18 locations in Washington state including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. In 2022, First Northwest made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm. Additionally, First Northwest focuses on strategic partnerships to provide modern financial services such as digital payments and marketplace lending. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. First Fed is headquartered in Port Angeles, Washington.

First Fed Bank was recognized by Puget Sound Business Journal as a Best Workplace in 2023 and top Corporate Philanthropist in 2023 and 2024. By popular vote, First Fed received 2024 awards for Best Bank and Best Lender in Best of the Peninsula for Clallam County. First Fed is a Member FDIC and equal housing lender.

Contact: Matthew P. Deines
President & CEO
(360) 457-0461

The MIL Network –

February 27, 2025
MIL-OSI Global: African Union’s new chair has a long list of tough tasks – what it will take to get them done
Source: The Conversation – Africa – By Ulf Engel, Professor, Institute of African Studies, University of Leipzig

Following seven rounds of balloting, 60-year-old diplomat Mahmoud Ali Youssouf was elected the sixth chair of the African Union Commission in February 2025. Politics professor Ulf Engel, who is the editor of the Yearbook on the African Union, explains the role and its challenges.

What’s the new AU Commission chair’s background?

Youssouf is a seasoned diplomat from Djibouti. He is the longest serving minister of foreign affairs and international cooperation of his country (2005-2025), and has also served as chair of the Council of Ministers of the Arab League (2007, 2017) and the Organisation of Islamic Cooperation (2012).

What’s the job?

It involves navigating the different levels of commitments of AU member states, promoting the pan-African agenda on the global stage and developing the professionalisation of the commission.

The chair is the chief executive officer and legal representative of the African Union as well as the accounting officer of the AU Commission.

They are directly responsible to the AU executive council. The chair is elected by the assembly for a four-year term, renewable once.

Their functions include:
- chairing all meetings and deliberations of the AU Commission
- keeping records of the deliberations of the AU Assembly, the executive council and the permanent representatives council
- preparing the AU budget
- acting as a depository of all AU treaties and other legal instruments
- consulting and coordinating with the governments of member states and the regional economic communities on the activities of the AU.
In the transition phase from the Organisation of African Unity (OAU) to the AU (1999–2002), the office of the chair was still conceived as the “head of a secretariat”. But with the expansion of the African Union Commission’s staff from roughly 600 in the early 1990s to now well over 1,700 and the growing number of substantive tasks, this concept has evolved.

The AU Commission has developed into the engine room of the pan-African project.

Building on the three terms of the Tanzanian OAU secretary-general Salim Ahmed Salim (1989–2001), the commission has developed strong agency.

On many political issues it has become the source for drafting legal and political documents.

Through the chair, the commission coordinates relations with the regional economic communities. An example is in the field of early warning and conflict prevention.

An example of the political guidance and leadership the chair can exercise is the 1999 report on “The Fundamental Changes Taking Place in the World and their Implications for Africa: Proposals for an African Response”.

This had strong implications for the development of the continental body’s economic and security policies.

It also had an impact on the 2011 report on “Current Challenges to Peace and Security on the Continent”. The report discussed the consequences of the public uprisings in northern Africa (the so-called Arab Spring).

The 2022 report on “Unconstitutional Changes of Government in Africa” was drafted in response to the recent wave of coups d’état, especially in west Africa.

A prominent example of proactive chairpersonship is the development of the AU’s Agenda 2063 under the leadership of Nkosazana Dlamini-Zuma (South Africa, 2012–2017). This was an ambitious programme to steer the AU for the next 50 years after its 50th anniversary in 2013.

What are the biggest challenges?

The AU Commission chair’s main challenges include renewing member states’ commitment to the institution’s shared values amid a democratic recession.

The new chair will have to deal with the decline in the quality of democracy across the continent.

He will also have to deal with many member states that constantly violate AU decisions and communiqués on unconstitutional changes of government, as highlighted by the outgoing chair, Moussa Faki Mahamat (Chad), in a speech celebrating the 20th anniversary of the AU Peace and Security Council on 25 May 2024.

The chair needs to finalise AU policy on the division of labour with the regional economic communities. In many policy fields this division is still unsystematic.

Youssouf will have to increase the number of common African positions on key global challenges, increase ownership of positions by member states and lead the debate on defining clear obligations for member states.

The most prominent common African position is the 2005 Ezulweni Consensus on the reform of the UN security council. It called for two permanent seats and five non-permanent seats for Africa.

But more could be done to increase the African voice in the various international negotiation forums.

The chair also needs to adopt a more systematic approach to the AU’s strategic partnerships with multilateral and bilateral players. For example, the AU became a member of the G20 in September 2024. Monitoring of strategic partnerships must be developed, and there should be clear guidelines which define African interests beyond funding issues.

But the biggest task is to complete the financial and institutional reform of the AU that began in 2016/2017. This should include reducing its heavy financial dependence on international partners. Currently an estimated 58% of the budget comes from these partners, slightly down from last year’s 61%.

The new chair needs to make the AU Commission more efficient and relevant for the African people. The lack of domestication of AU decisions by member states remains a huge challenge for Agenda 2063: The Africa We Want.

Are any breakthroughs possible?

G20 meetings in South Africa offer an opportunity to show how AU membership of this body can help address Africa’s concerns and rally AU member states behind a common agenda. There were meetings of G20 ministers of foreign affairs and finance in February, and heads of state and government will meet in November 2025.

In his electoral campaign, Youssouf pledged to “defend Africa’s fair representation in international institutions and to strengthen its role in global forums”.

He said Africa “must assert itself as an influential player in global policy discussion, advancing its economic and developmental interests”.

With the new government in the US this certainly will become an uphill struggle. This is especially so giveng the pace with which the US president Donald Trump’s administration is dismantling established multilateral alliances, withdrawing from parts of the United Nations, and appears to be siding with Russia.

Ulf Engel has been consulting for the African Union since 2006, mainly in early warning, conflict prevention, preventive diplomacy, and knowledge management.

– ref. African Union’s new chair has a long list of tough tasks – what it will take to get them done – https://theconversation.com/african-unions-new-chair-has-a-long-list-of-tough-tasks-what-it-will-take-to-get-them-done-250421
MIL OSI – Global Reports –
February 27, 2025
MIL-OSI Canada: Premier’s, minister’s statements on Pink Shirt Day

Source: Government of Canada regional news

Premier David Eby has issued the following statement marking Pink Shirt Day:

“Today is Pink Shirt Day, a day for all of us to celebrate kindness and work together against bullying.

“In 2007, two Nova Scotia high school students encouraged classmates to wear pink in support of a boy who had been teased for wearing a pink shirt. This act of solidarity inspired Pink Shirt Day, which is observed on the last Wednesday in February every year as Canada’s official anti-bullying day.

“Bullying is still far too common. According to the 2019 Canadian Health Survey on Children and Youth, 71% of Canadian youth, ages 12 to 17, experienced at least one form of bullying in the previous reporting year. One in four reported being cyberbullied.

“Our government is committed to making sure that every student in every community in B.C. feels safe and supported – at school and at home.

“The Erase (expect respect and a safe education) program is dedicated to helping students, adults and school staff build safe, caring and inclusive school communities, and offers resource support for diversity and inclusion, mental health and substance use, and school and online safety.

“Recognizing the significant harms that can result from online harassment and cyberbullying, we launched services to remove images from the internet and pursue predators who share images without consent.

“We invested nearly $75 million over three years to enhance and expand Foundry services in the province. Foundry provides integrated health and wellness services for young people, ages 12 to 24, and allows young people to access mental-health care, substance-use services, physical and sexual health care, youth and family peer supports, and social services all in one location.

“In B.C., we celebrate the diversity that makes our province strong and vibrant. There’s no place for bullying in schools, on the streets or at home.”

Lisa Beare, Minister of Education and Child Care, said:

“On the 18th anniversary of Pink Shirt Day, we join British Columbians taking a stand against bullying. Every MLA who celebrates this day recognizes our immense responsibility to do the work that keeps every child in B.C. safe.

“Alongside our partners, we continue the critical work to make schools free from bullying and discrimination. Together, we must ensure that we create the environment where all B.C. students feel safe, cared for and included, so they can be their authentic selves at school and thrive out in the world.

“Both as a minister and a parent, I am proud to celebrate this day. Now more than ever, we need everyone to come together to stand up to bullies.”

MIL OSI Canada News –

February 27, 2025
MIL-OSI: Defiance ETFs’ QTUM, Quantum Computing ETF, Earns 5-Star Morningstar Rating and Surpasses $1 Billion in AUM

Source: GlobeNewswire (MIL-OSI)

MIAMI , Feb. 26, 2025 (GLOBE NEWSWIRE) — Defiance ETFs, a pioneer in thematic investing, is proud to announce that its QTUM – Defiance Quantum Computing ETF has achieved two significant milestones: a prestigious 5-star Overall Morningstar Rating™ and assets under management (AUM) exceeding $1 billion. These accomplishments underscore QTUM’s position as a leader in providing investors with targeted exposure to the rapidly evolving quantum computing sector. The 5-star Morningstar Rating, based on risk-adjusted returns as of January 31, 2025, places QTUM among the top-performing funds in its technology category, evaluated against 262 peers over a three-year period.

Launched in September 2018, QTUM tracks the BlueStar Quantum Computing and Machine Learning Index, offering access to a diversified portfolio of global companies at the forefront of quantum innovation. With holdings including industry trailblazers like D-Wave Quantum (NYSE: QBTS), IonQ (NYSE: IONQ), and Rigetti Computing (NASDAQ: RGTI), QTUM has capitalized on the surging demand for computational power driving the AI age.

“We’re thrilled to see QTUM earn a 5-star Morningstar Rating and break the $1 billion AUM barrier,” said Sylvia Jablonski, CEO of Defiance ETFs. “This dual achievement is a testament to the vision we had when we launched QTUM—to give investors a front-row seat to one of the most disruptive technological shifts of our time. Quantum computing isn’t just the future; it’s the now”

The quantum computing market is projected to grow exponentially, with estimates suggesting a valuation of $90 billion to $170 billion by 2040¹, driven by its ability to solve complex problems beyond the reach of classical computing. QTUM’s success reflects this momentum, offering a compelling option for investors seeking to tap into this high-growth sector without the risks of single-stock exposure.

For more information on QTUM, including current holdings and performance data, visit www.defianceetfs.com/qtum.

About Defiance ETFs
Founded in 2018, Defiance ETFs is a leading issuer of thematic, leveraged, and income-focused exchange-traded funds.

^1. Source: bcg.com The Long-Term Forecast for Quantum Computing Still Looks Bright, July 18, 2024.

Past performance does not guarantee future results. Fund holdings and sector allocations are subject to change at any time and should not be considered recommendations to buy or sell any security.

The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 833.333.9383.

Morningstar Disclaimer: The Morningstar Rating™ for funds, or “star rating,” is calculated for managed products with at least a three-year history. The top 10% of products in each category receive 5 stars. The Overall Morningstar Rating is derived from a weighted average of performance figures associated with its three-, five-, and 10- year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. ©2025 Morningstar, Inc. All Rights Reserved.

Investing involves risk. Principal loss is possible. The Funds are not actively managed and would not sell a security due to current or projected under performance unless that security is removed from the Index or is required upon a reconstitution of the Index. A portfolio concentrated in a single industry or country may be subject to a higher degree of risk. The value of stocks of information technology companies are particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition.

The Fund is considered to be non-diversified, so it may invest more of its assets in the securities of a single issuer or a smaller number of issuers. Investments in foreign securities involve certain risks including risk of loss due to foreign currency fluctuations or to political or economic instability. This risk is magnified in emerging markets. Small and mid-cap companies are subject to greater and more unpredictable price changes than securities of large-cap companies.

The possible applications of quantum computing are only in the exploration stages, and the possibility of returns is uncertain and may not be realized in the near future.

The “BlueStar Quantum Computing and Machine Learning Index™”, “BQTUM™ Index” (collectively “Quantum Computing and Machine Learning Index”), is the exclusive property and a trademark of BlueStar Global Investors LLC d/b/a BlueStar Indexes® and has been licensed for use for certain purposes by Defiance ETFs LLC. Products based on the Quantum Computing and Machine Learning Index are not sponsored, endorsed, sold or promoted by BlueStar Global Investors, LLC or BlueStar Indexes®, and BlueStar Global Investors, LLC and BlueStar Indexes® makes no representation regarding the advisability of trading in such product(s). It is not possible to invest directly in an index.

QTUM is distributed by Foreside Fund Services, LLC.

Contact Information

David Hanono
info@defianceetfs.com
833-333-9383

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d994faf-766a-4a4d-8949-39f33c321b95

The MIL Network –

February 27, 2025
MIL-OSI United Nations: At Least Five Peacekeeping, Associated Personnel Killed in Malicious Attacks During 2024, United Nations Staff Union Committee Says

Source: United Nations General Assembly and Security Council

At Least 116 Staff Members of United Nations Palestine Refugee Agency Killed in 2024, Bringing Total to 263 Staff Fatalities Since War in Gaza

At least five United Nations personnel — four military peacekeeping personnel and one civilian UN security coordination officer — were killed in deliberate attacks in 2024, the United Nations Staff Union Standing Committee on the Security and Independence of the International Civil Service said today. By nationality, the UN personnel who died in 2024 were from Cameroon (1), Ghana (1), India (1) Pakistan (1) and Uganda (1).

This does not include the personnel of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) who died in the war in Gaza, since they were not deliberately targeted. However, at least 116 UNRWA personnel had been confirmed killed in 2024 in the conflict between Israel and Hamas in response to the terror attack by Hamas on 7 October 2023, the largest loss during a conflict in the 79-year history of the United Nations. As of 29 December 2024, the total number of UNRWA team members killed since 7 October 2023 is 263 (UNRWA Situation Report #153).

Peacekeepers serving with the United Nations Interim Force in Lebanon (UNIFIL) were also affected by conflicts in the region.

On 11 October, two peacekeepers from Indonesia serving with UNIFIL were injured after two explosions occurred close to an observation tower near the mission’s base in Naquora.

On 29 October, eight peacekeepers from Austria serving with UNIFIL were wounded after a rocket, likely fired by Hizbullah or an affiliated group, hit UNIFIL headquarters in southern Lebanon.

On 7 November, a UNIFIL convoy bringing newly arrived peacekeepers from Malaysia to south Lebanon was passing Saida when a drone strike occurred nearby. Five peacekeepers were lightly injured.

On 19 November, four peacekeepers from Ghana serving with UNIFIL were wounded when a rocket most likely fired by Hizbullah hit their base in southern Lebanon. Peacekeepers and facilities were targeted in three separate incidents.

On 22 November, four peacekeepers from Italy serving with UNIFIL were wounded when two rockets, likely launched by Hizbullah or affiliated groups, struck the Sector West Headquarters in Shama.

In addition, three members of the World Food Programme (WFP) Sudan country team — the Head of field office, a programme associate and a security guard — lost their lives on 19 December after an aerial bombardment hit the WFP Field Office Compound in Yabus, Blue Nile State.

The United Nations Interim Security Force for Abyei (UNISFA) was the deadliest for peacekeepers with two fatalities, followed by the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA) with one.

In 2023 at least 11 United Nations personnel (seven military and four civilians) were killed in malicious attacks, and in 2022 at least 32 (28 peacekeepers and four civilians). The drop in fatalities can partly be attributed to the conclusion in 2023 of the United Nations Multidimensional Integrated Stabilization Mission in Mali (MINUSMA), the deadliest peacekeeping mission with 175 fatalities due to malicious acts.

Deliberate Attacks

Following is a non-exhaustive list of deliberate attacks in 2024 that resulted in the death or injury of United Nations and associated personnel, compiled by the United Nations Staff Union Standing Committee on the Security and Independence of the International Civil Service.

On 10 January, Al-Shabaab militants seized a helicopter with United Nations personnel travelling onboard in Galmdug, Somalia. The helicopter was captured after it had to make an emergency landing in an area controlled by the armed group. According to media reports, the helicopter took off from the city of Beledweyne and landed close to Gadoon village (near Hindhere village) in central Somalia’s Galgaduud region due to a technical glitch. The UN-contracted helicopter was conducting an air medical evacuation. According to media reports, nine people were on board: four Ukrainian crew members, two Kenyan nurses, an Egyptian working for a contractor who provides emergency medical evaluations, a Somali military doctor and a Ugandan protection officer. At least one passenger was reportedly killed and six were seized by al-Shabaab.

On 11 January, Maimudu Edema, a peacekeeper from Uganda, serving with the United Nations Assistance Mission in Somalia, was killed when mortar rounds landed inside the Aden Adde International Airport area, in which the UN Compound was located. Al-Shabaab has reportedly claimed responsibility for the attack.

On 15 January, Emmanuel Steve Atebele, a peacekeeper from Cameroon serving with MINUSCA, was killed when his vehicle hit an improvised explosive device in Mbindali, in Ouham-Pendé Prefecture, north-west of Paoua, Central African Republic. Five other blue helmets were injured in the attack.

On 27 January, Kyere Evans, a peacekeeper from Ghana serving with UNISFA, was killed when the mission’s base in Agok came under attack by an armed group.

On 28 January, Muhammad Tariq, a peacekeeper from Pakistan serving with UNISFA, died in Abyei when a UNISFA convoy transporting civilians came under attack.

On 2 February, two peacekeepers from South Africa serving with the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO), were injured in an attack on a UN helicopter in the eastern Democratic Republic of the Congo. The helicopter was carrying out a medical evacuation when it came under fire from presumed members of the M23 armed group in the Karuba region, North Kivu Province. The helicopter was able to land safely in the provincial capital, Goma.

On 16 March, eight peacekeepers serving with MONUSCO were wounded during clashes between the M23 armed group and Government troops. The incident occurred in the vicinity of Sake, 20 kilometres from Goma. The wounded peacekeepers, who were part of Operation Springbok initiated in November 2023 to safeguard civilians in the region, sustained their injuries amidst the ongoing fighting, where MONUSCO troops had been assisting Government forces to protect vulnerable civilians.

On 13 May, Waibhav Anil Kale, a former military officer from India working as a security coordination officer for the United Nations Department for Safety and Security (UNDSS), was killed in Rafah, southern Gaza, when a weapon impacted the back of his clearly marked United Nations vehicle. The vehicle was driving to the European Hospital in Rafah. Another UNDSS staff member, a Jordanian woman travelling in the same vehicle, was injured. The shots were thought to come from an Israel Defense Forces tank in the area.

On 10 October, two peacekeepers from Sri Lanka serving with UNIFIL were injured after an Israel Defense Forces tank fired its weapon toward an observation tower at UNIFIL headquarters in Naqoura, directly hitting the tower and causing its fall.

Violations of the Independence of the International Civil Service

On 24 January, the Houthi authorities in Yemen ordered United Nations and other humanitarian staff holding United States and United Kingdom passports to leave the country within a month. The de facto authorities, who controlled the capital, Sana’a, along with many other areas of the country, thus violated the independence of the international civil service.

On 11 June, the Secretary-General called for the immediate release of all United Nations staff held in Yemen by the de facto Houthi authorities, following the arbitrary detention of 13 of the Organization’s personnel, including six staff members of the Office of the United Nations High Commissioner for Human Rights (OHCHR). Four additional United Nations staff members had been detained and held incommunicado by the de facto authorities since 2021 and 2023, without access to their families or their respective organizations and agencies.

On 12 October, the heads of the United Nations Development Programme, the United Nations Educational, Scientific and Cultural Organization, the United Nations Children’s Fund, the World Food Programme, the World Health Organization and OHCHR, as well as the Special Envoy of the Secretary-General for Yemen, renewed urgent calls for the immediate release of their staff arbitrarily detained by the Houthi de facto authorities in Yemen, amid reports that some of them might face “criminal prosecution”.

MIL OSI United Nations News –

February 27, 2025
MIL-OSI USA: CFTC Commissioner Christy Goldsmith Romero to Step Down from the Commission and Retire from Federal Service

Source: US Commodity Futures Trading Commission

With the fulfillment of her term, and the nomination of Brian Quintenz to succeed her, Commissioner Christy Goldsmith Romero will step down from the Commission upon Mr. Quintenz’s confirmation, and retire from federal service. Commissioner Goldsmith Romero said, “It’s been a tremendous privilege to serve in the federal government for 23 years. Following my wonderful tenure at the SEC and as the Special Inspector General for TARP at the Department of the Treasury, it has been a joy to be a CFTC Commissioner and serve alongside my fellow Commissioners and the CFTC staff. History has shown how sound regulation plays a critical role in U.S. financial markets being the envy of the world, and I am honored to have played a part in promoting U.S. markets and protecting investors and customers.” “I congratulate my friend and fellow Commissioner, Christy Goldsmith Romero, on her retirement from decades of dedicated federal service” said Acting Chairman Caroline Pham. “Throughout her distinguished career, she has worked tirelessly to protect the American public and address risks in banking and financial services. I have appreciated her notable accomplishments towards our shared goal of supporting the CFTC’s robust enforcement program—to hold those who break the law accountable and deter bad actors from causing harm to our markets. In particular, Christy has been a thought leader in combatting fraud and addressing cybersecurity in new technologies such as AI and blockchain as sponsor of the CFTC’s Technology Advisory Committee. I will miss her partnership and collegiality on the Commission.”Commissioner Goldsmith Romero is a well-regarded, trusted, and internationally recognized leader in financial regulation and oversight. She has served as a Presidential appointee since 2012, was twice unanimously confirmed by the Senate, has testified before Congress 14 times, and was recently nominated to be the FDIC Chairman and Board Member. Her work has received substantial media coverage, and she is a sought-after speaker. Commissioner Goldsmith Romero led the CFTC during a time of expansion of derivatives markets and amid geopolitical uncertainty. Her overriding priority has been to ensure that markets work well—that they remain vibrant, resilient and have integrity. She has visited farmers, agricultural and energy providers, and critical mineral providers, and met with exchanges, trading platforms, clearing houses, banks and brokers.During her term, Commissioner Goldsmith Romero prioritized risk management, focusing on the Commission’s mission to promote market resilience. Her work led to increased surveillance to ensure prices for food and fuel were not artificially increased by fraud or manipulation. She led the drafting of the CFTC’s first proposed rule on cyber resilience for banks and brokers, which garnered a unanimous Commission vote. She spoke about resilience to climate risk, given the impact of severe climate events on agricultural and energy markets. Commissioner Goldsmith Romero built on her career-long enforcement record of combating fraud and other illegality and of advancing investor and customer protection. She changed the CFTC’s routine practice of settling all cases without requiring defendants to admit their misconduct and called for stricter penalties for recidivism and violations of anti-money laundering laws. She proposed the creation of a National Financial Fraud Registry, and advocated that Congress define “retail customer” for derivatives markets.Commissioner Goldsmith Romero has been a leader at the CFTC on future of finance issues. She promoted responsible innovation and competition in the CFTC’s regulation of trading of digital assets and engaged with technology innovators. She sponsored the CFTC’s Technology Advisory Committee, to which she added technology experts in cryptocurrency, stablecoins, blockchain, digital identity, AI, fintech, and cybersecurity. The committee examined emerging technology and cyber resilience and released first-of-its-kind reports on “Decentralized Finance” and “Responsible AI in Financial Markets.”Commissioner Goldsmith Romero was the first AANHPI lawyer to serve as a CFTC Commissioner and the first LGBTQIA+ Commissioner. She thanks President Biden for her nomination, the U.S. Senate for its unanimous confirmation, and her current and former staff and CFTC for their outstanding public service.About Commissioner Goldsmith RomeroCommissioner Goldsmith Romero was sworn in as a CFTC Commissioner on March 30, 2022, after being nominated by President Biden and unanimously confirmed by the Senate. In June 2024, President Biden nominated her to be the FDIC Chairman and Board Member (nomination returned by the Senate in January 2025).Prior to becoming a CFTC Commissioner, she served for 12 years at the Department of Treasury, including for a decade as the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), after being nominated by President Obama and unanimously confirmed by the Senate. She continued to serve in that position throughout President Trump’s administration and the beginning of President Biden’s administration. There, she led a nationwide law enforcement and audit watchdog office conducting oversight over TARP, the government’s response to the financial crisis that covered banks, derivatives, housing, the automotive industry and insurance. She testified before Congress and served as a non-partisan Congressional resource on the U.S. financial system, the global financial crisis and TARP. SIGTARP returned more than $11 billion to taxpayers and other victims, a 27 times return on investment. SIGTARP developed a unique ability to find hidden fraud in banks. SIGTARP investigations led to criminal charges against 465 defendants (including 75 bankers sentenced to prison and 121 homeowner scammers sentenced to prison), as well as civil charges by the DOJ, the SEC & others against 25 entities including large financial institutions.Commissioner Goldsmith Romero served for six years at the U.S. Securities and Exchange Commission, including as counsel to two SEC Chairs, Christopher Cox (R) and Mary Schapiro (I), after serving on the staff of the Enforcement Division. She also was an adjunct professor at Georgetown University Law Center teaching a class on the SEC and securities regulation, and at the University of Virginia Law School teaching classes on cryptocurrency regulation and federal oversight. Prior to joining the SEC, she worked at national law firms including Jenner & Block, Snell and Wilmer, and Akin Gump Strauss Hauer & Feld, and served a federal clerkship.

MIL OSI USA News –

February 27, 2025
MIL-OSI Africa: African Union’s new chair has a long list of tough tasks – what it will take to get them done
Source: The Conversation – Africa – By Ulf Engel, Professor, Institute of African Studies, University of Leipzig

Following seven rounds of balloting, 60-year-old diplomat Mahmoud Ali Youssouf was elected the sixth chair of the African Union Commission in February 2025. Politics professor Ulf Engel, who is the editor of the Yearbook on the African Union, explains the role and its challenges.

What’s the new AU Commission chair’s background?

Youssouf is a seasoned diplomat from Djibouti. He is the longest serving minister of foreign affairs and international cooperation of his country (2005-2025), and has also served as chair of the Council of Ministers of the Arab League (2007, 2017) and the Organisation of Islamic Cooperation (2012).

What’s the job?

It involves navigating the different levels of commitments of AU member states, promoting the pan-African agenda on the global stage and developing the professionalisation of the commission.

The chair is the chief executive officer and legal representative of the African Union as well as the accounting officer of the AU Commission.

They are directly responsible to the AU executive council. The chair is elected by the assembly for a four-year term, renewable once.

Their functions include:
- chairing all meetings and deliberations of the AU Commission
- keeping records of the deliberations of the AU Assembly, the executive council and the permanent representatives council
- preparing the AU budget
- acting as a depository of all AU treaties and other legal instruments
- consulting and coordinating with the governments of member states and the regional economic communities on the activities of the AU.
In the transition phase from the Organisation of African Unity (OAU) to the AU (1999–2002), the office of the chair was still conceived as the “head of a secretariat”. But with the expansion of the African Union Commission’s staff from roughly 600 in the early 1990s to now well over 1,700 and the growing number of substantive tasks, this concept has evolved.

The AU Commission has developed into the engine room of the pan-African project.

Building on the three terms of the Tanzanian OAU secretary-general Salim Ahmed Salim (1989–2001), the commission has developed strong agency.

On many political issues it has become the source for drafting legal and political documents.

Through the chair, the commission coordinates relations with the regional economic communities. An example is in the field of early warning and conflict prevention.

An example of the political guidance and leadership the chair can exercise is the 1999 report on “The Fundamental Changes Taking Place in the World and their Implications for Africa: Proposals for an African Response”.

This had strong implications for the development of the continental body’s economic and security policies.

It also had an impact on the 2011 report on “Current Challenges to Peace and Security on the Continent”. The report discussed the consequences of the public uprisings in northern Africa (the so-called Arab Spring).

The 2022 report on “Unconstitutional Changes of Government in Africa” was drafted in response to the recent wave of coups d’état, especially in west Africa.

A prominent example of proactive chairpersonship is the development of the AU’s Agenda 2063 under the leadership of Nkosazana Dlamini-Zuma (South Africa, 2012–2017). This was an ambitious programme to steer the AU for the next 50 years after its 50th anniversary in 2013.

What are the biggest challenges?

The AU Commission chair’s main challenges include renewing member states’ commitment to the institution’s shared values amid a democratic recession.

The new chair will have to deal with the decline in the quality of democracy across the continent.

He will also have to deal with many member states that constantly violate AU decisions and communiqués on unconstitutional changes of government, as highlighted by the outgoing chair, Moussa Faki Mahamat (Chad), in a speech celebrating the 20th anniversary of the AU Peace and Security Council on 25 May 2024.

The chair needs to finalise AU policy on the division of labour with the regional economic communities. In many policy fields this division is still unsystematic.

Youssouf will have to increase the number of common African positions on key global challenges, increase ownership of positions by member states and lead the debate on defining clear obligations for member states.

The most prominent common African position is the 2005 Ezulweni Consensus on the reform of the UN security council. It called for two permanent seats and five non-permanent seats for Africa.

But more could be done to increase the African voice in the various international negotiation forums.

The chair also needs to adopt a more systematic approach to the AU’s strategic partnerships with multilateral and bilateral players. For example, the AU became a member of the G20 in September 2024. Monitoring of strategic partnerships must be developed, and there should be clear guidelines which define African interests beyond funding issues.

But the biggest task is to complete the financial and institutional reform of the AU that began in 2016/2017. This should include reducing its heavy financial dependence on international partners. Currently an estimated 58% of the budget comes from these partners, slightly down from last year’s 61%.

The new chair needs to make the AU Commission more efficient and relevant for the African people. The lack of domestication of AU decisions by member states remains a huge challenge for Agenda 2063: The Africa We Want.

Are any breakthroughs possible?

G20 meetings in South Africa offer an opportunity to show how AU membership of this body can help address Africa’s concerns and rally AU member states behind a common agenda. There were meetings of G20 ministers of foreign affairs and finance in February, and heads of state and government will meet in November 2025.

In his electoral campaign, Youssouf pledged to “defend Africa’s fair representation in international institutions and to strengthen its role in global forums”.

He said Africa “must assert itself as an influential player in global policy discussion, advancing its economic and developmental interests”.

With the new government in the US this certainly will become an uphill struggle. This is especially so giveng the pace with which the US president Donald Trump’s administration is dismantling established multilateral alliances, withdrawing from parts of the United Nations, and appears to be siding with Russia.

– African Union’s new chair has a long list of tough tasks – what it will take to get them done
– https://theconversation.com/african-unions-new-chair-has-a-long-list-of-tough-tasks-what-it-will-take-to-get-them-done-250421

MIL OSI Africa –
February 27, 2025
MIL-OSI: NBC Securities Promotes Sam Ransom to Chief Financial Officer

Source: GlobeNewswire (MIL-OSI)

BIRMINGHAM, Ala., Feb. 26, 2025 (GLOBE NEWSWIRE) — NBC Securities, a leading independent full-service broker-dealer and registered investment advisor headquartered in Alabama, is pleased to announce the promotion of Sam Ransom to Chief Financial Officer (CFO). Since joining NBC in 2021 as Director of Finance, Mr. Ransom has played a critical role in overseeing financial operations and driving strategic financial initiatives that have strengthened the firm’s long-term growth.

In his new role, Mr. Ransom will oversee all financial functions, ensuring NBC Securities remains positioned for continued national expansion and operational excellence. His leadership will be instrumental in advancing the company’s financial strategy, budgeting, and reporting while maintaining the Southeastern roots of the BD/RIA, as well as its commitment to providing advisors with industry-leading support and resources.

“Sam has been a driving force behind NBC Securities’ financial strategy, bringing expertise and forward-thinking leadership to our firm,” said Peyton Falkenburg, NBC Securities Executive Vice President. “His broad understanding of financial operations and commitment to NBC’s growth make him an invaluable part of our leadership team. His contributions in this new role will advance our mission to help the legacies of those we serve reach their full potential.”

With a Bachelor of Arts in Mathematics from the University of Richmond, Mr. Ransom brings a proven track record of close to 15 years across various financial sectors, specializing in accounting, budgeting, financial reporting, and operational efficiency. His expertise has been pivotal in developing and implementing financial policies that support NBC’s mission to provide customized investment solutions and comprehensive advisor support.

“I am honored to step into the role of CFO at NBC Securities and proud to be part of a team that is so deeply committed to supporting our advisors and clients,” said Sam Ransom. “NBC’s advisor-first approach and dedication to growth—while fostering a culture of caring and support—create an environment focused on delivering exceptional service, and I look forward to further strengthening our financial strategy to drive continued success.”

About NBC Securities
NBC Securities is a privately held, full-service broker-dealer and registered investment advisor catering to individuals and companies across the United States. They provide private wealth services and asset management strategies from financial professionals who average over 25 years of industry experience, in addition to technology-driven custodial solutions that streamline and optimize operations for advisors nationwide.

They are independent and employee-owned, committed to building lasting relationships and legacies. The firm achieves this through the combined power of its network of advisors, sophisticated suite of business services, and in-house portfolio products and research that spans equities, fixed income, mutual funds, SMAs, annuities, and life insurance.

NBC Securities manages or advises approximately $5 billion in assets with an operating footprint that spans the US with corporate headquarters located in Birmingham, Alabama, and 28 branch offices, including Alabama, Florida, Iowa, Maryland, Minnesota, and Ohio.

For more information, visit www.nbcsecurities.com.

Contact: press@mbcstrategic.com

The MIL Network –

February 27, 2025
MIL-OSI United Kingdom: RSE award success for University of Aberdeen Groundbreaking research from the University of Aberdeen has been recognised in the autumn 2024 RSE Research Awards open call.

Source: University of Aberdeen

Groundbreaking research from the University of Aberdeen has been recognised in the autumn 2024 RSE Research Awards open call.

Ten researchers from the University will share the £686,000 total funding alongside a number of other Scottish higher education institutions. Recipients will use the funding to further their research across a diverse range of topics including international child protection laws, real estate advertising and biological diversity.

The Aberdeen researchers who received the funding are:

Dr Jesse Barker, whose research project Out of frame: Ecomedia in Spain examines how Spanish media has engaged with environmental themes amid a history of civil war and dictatorship.

Dr Vasilis Louca, who will use hydrophones to record the diversity of underwater sounds emitted by aquatic plants and invertebrates in Scottish wetlands, with the aim of understanding how sound diversity reflects actual levels of biological diversity in these ecosystems.

Dr Miracle Israel Nazarious with collaborators Professor Javier Martin-Torres and Dr Bartosz Kurjanski. Their project will advance a novel liquid sampling and ion analysis technology specifically designed for long-term deployments. The technology could have benefits from monitoring the quality of our local water supplies, to investigating the role of liquid environments such as rivers, lakes and oceans on Earth’s climate.

Professor Katarina Trimmings, whose project Cross-border protection of children: The 1996 Hague Child Protection Convention will investigate the legal challenges surrounding the protection of children in cross-border situations involving transnational families.

Dr Rainer Schulz, who will examine strategies of real estate agents when they advertise residential properties on local listings platforms.

Dr Arianna Zampollo and Professor Beth Scott, whose collaborative project with the CNR Institute of Marine Sciences in Italy will study the impacts of blue renewable energy (wind farms and floating solar panels) on hydrodynamics and nutrient dispersion in Scottish and northern Adriatic coastal waters.

And Professor Marian Wiercigroch’s project, Advanced modelling techniques for energy transition technologies, will explore the cutting edge nonlinear structural dynamics experimental methods for offshore wind turbine monitoring, which support the GB Energy agenda.

The RSE’s Research Awards Programme runs twice a year in spring and autumn. It aims to support Scotland’s research sector by nurturing promising talent, stimulating research in Scotland, and promoting international collaboration. Aberdeen is one of 10 of the 19 Scottish higher education institutions successful in this round of funding.

Professor Nick Forsyth, Vice-Principal (Research) said: “The University of Aberdeen has been at the forefront of groundbreaking interdisciplinary research for more than 500 years and these projects are testament to the commitment and ambition of our researchers. Recognition in this latest round of RSE funding demonstrates the global impact of work undertaken at the University and my congratulations go to our researchers for this exceptional achievement.”

RSE Vice President, Research, Professor Anne Anderson OBE FRSE said: “The RSE’s Research Awards Programme is crucial in supporting Scotland’s vibrant research community. These awardees will drive forward knowledge, address global challenges, and make valuable contributions to Scottish society. On behalf of the RSE, I congratulate these outstanding researchers and their international collaborators, and I look forward to following the outcomes of their work.”

MIL OSI United Kingdom –

February 27, 2025

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