Category: Energy

MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Dominican Republic

Source: IMF – News in Russian

September 10, 2024

Washington, DC: On September 10, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with the Dominican Republic and considered and endorsed the staff appraisal without a meeting.[2]

A track record of sound policies and institutional policy frameworks has helped the Dominican Republic achieve robust and resilient economic growth and low inflation over the last two decades. Effective policies contributed to a growth moderation that appropriately supported inflation’s rapid and sustained return to its target last year and then aided the recovery, while close monitoring of the financial sector supported macro-financial stability. Planned enhancements to policy frameworks and deepening structural reforms—in particular, comprehensive fiscal and electricity reforms—have the potential to further support stability, competitiveness, and inclusive growth.

Following a strong post-pandemic recovery, economic growth slowed to 2.4 percent in 2023 due to tighter global and domestic financial conditions, weak export demand, and transient domestic factors, largely climate related. The growth slowdown, alongside lower commodity prices, drove inflation’s faster-than-expected convergence to its target range (4±1 percent). In response, the Central Bank of The Dominican Republic (BCRD) cautiously and appropriately reduced its key policy rate, allowing for greater exchange rate flexibility while increasing foreign exchange interventions to smooth daily exchange volatility. Fiscal policy was also prudently adjusted to support the economy. The current account deficit in 2023 narrowed markedly to 3.6 percent of GDP and was fully financed by foreign direct investment (FDI) flows. The financial sector weathered the period of tight monetary policy and slower growth and is adequately capitalized and profitable.

Supported by sound policies and macroeconomic fundamentals, the outlook is favorable despite elevated, mostly global, uncertainty. For 2024 and over the medium term, real GDP growth is projected around its long-term trend of 5 percent, with inflation around its 4 percent target. The current account deficit is projected to gradually narrow to less than 3 percent of GDP and continue being fully financed by FDI. Near-term risks to the outlook—including tighter global financial conditions, geopolitical tensions, and volatile commodity prices—have moderated since last year but remain elevated and tilted to the downside. Over the medium-term risks are more balanced and include upside risks if key domestic reforms are implemented successfully.

Executive Board Assessment

In concluding the 2024 Article IV Consultation with the Dominican Republic, Executive Directors endorsed staff’s appraisal, as follows:

A track record of sound policies and institutional policy frameworks has helped the Dominican Republic achieve robust and resilient economic growth and low inflation over the last two decades. Effective policies contributed to a growth moderation that appropriately supported inflation’s rapid and sustained return to its target in 2023. The authorities provided timely policy support to aid the recovery while monitoring closely the financial sector. The external position improved significantly in 2023 and was broadly in line with fundamentals and desirable policies.

The outlook is favorable despite elevated—mostly global—uncertainty. Real GDP growth is projected around its long-term trend of 5 percent in 2024 and thereafter, with inflation around its (4±1 percent) target. The current account deficit, expected to be fully financed by FDI, is projected to gradually narrow over the medium term. Downside risks dominate in the near‑term term—including tighter for longer monetary policy in the U.S., intensification of regional conflicts, or extreme local weather events—but are broadly balanced over the medium term, including upside risks if reforms are successfully implemented. Existing buffers, further contingency planning, and agile sound policy making can help face adverse shocks.

In the near term, policy priorities should remain focused on maintaining macroeconomic and financial stability, including further flexibility of the exchange rate. Monetary policy normalization can continue, given remaining economic slack and that inflation is firmly within the target range. Efforts to expedite the recapitalization of the central bank to reinforce its autonomy should remain a priority. Endeavors should continue to deepen the FX market, expand the use of hedging mechanisms and limit FXIs to large shocks that lead to destabilizing changes in hedging and financing premia to support further exchange rate flexibility, and therefore further enhance the effectiveness of the inflation targeting framework. While international reserves are broadly adequate based on traditional metrics, further reserve accumulation is necessary to increase buffers to deal with future shocks.

Fiscal policy should remain focused on rebuilding buffers and critical spending needs. The fiscal responsibility law and its planned implementation are welcomed and are important steps to better anchor medium-term policies and further secure debt sustainability. The authorities’ planned gradual fiscal consolidation, consistent with this law, is appropriate to place debt on a firmly downward path and build fiscal buffers. An integral fiscal reform that durably raises revenues—through elimination of tax exemptions and expansion of the tax base—and improves spending efficiency—especially by reducing electricity sector subsidies and untargeted transfers—is imperative. This can provide space for needed development spending (including disaster-resilient infrastructure) to promote inclusive growth.

The financial sector remains resilient and well capitalized, and efforts to bring the regulatory framework up to the latest international standards should continue. The sector weathered well the period of high interest rates and slower growth in 2023. Stress tests show that the banking sector can absorb a range of shocks. Continued close monitoring to contain any build‑up of vulnerabilities remains warranted amid higher for longer interest rates and past increases to credit growth. The modernization of the financial and prudential regulatory framework, alongside the expansion of the macroprudential toolkit, and closing regulatory/supervisory gaps (including for savings and loans cooperatives) will further increase financial sector resilience.

Ongoing efforts to improve public institutions and the business climate are essential to maintaining the strong investment and growth trajectory. The fiscal policy framework, and spending and revenue efficiency can be further enhanced by continued improvements to public financial management and further strengthening of revenue administration. Reforms to education and the labor market, alongside further improvements to social outcomes and implementation of climate adaptation and mitigation policies will be critical to support inclusive and resilient growth and continue to reduce vulnerabilities. The authorities should continue in their efforts to fully implement the Electricity Pact.

Dominican Republic: Selected Economic Indicators
Population (millions, 2023) 10.7		GDP per capita (2023, U.S. dollars) 11,372
Quota 477.4 million SDRs / 0.10% of total		Poverty (2021, share of population) 23.9
Main exports tourism, gold, tobacco		Unemployment rate (2023, percent) 5.3
Key export markets U.S., Canada, Haiti		Adult literacy rate (percent, 2022) 95.5
						Projection
	2019	2020	2021	2022	2023	2024	2025
Output	(Annual percentage change, unless otherwise stated)
Real GDP	5.1	-6.7	12.3	4.9	2.4	5.1	5.0
Nominal GDP (RD$ billion)	4,562	4,457	5,393	6,261	6,820	7,453	8,149
Nominal GDP (US$ billion)	89.0	78.9	94.5	113.9	121.8	…	…
Output gap (in percent of potential output)	-0.5	-6.3	-1.9	-0.8	-1.7	-0.8	-0.5
Prices
Consumer price inflation (end of period)	3.7	5.6	8.5	7.8	3.6	3.7	4.0
Exchange Rate
Exchange rate (RD$/US$ – period average) 1/	51.2	56.5	57.1	55.0	56.0	…	…
Exchange rate (RD$/US$ – eop) 1/	52.9	58.2	57.3	56.2	58.0	…	…
Real effective exchange rate (eop, – depreciation) 1/	-3.2	-8.1	6.5	6.3	-1.9	-2.9	0.0
Government Finances	(In percent of GDP)
Consolidated public sector debt 2/	53.3	71.1	62.2	58.8	59.3	58.4	57.4
Consolidated public sector overall balance 2/	-3.3	-9.0	-3.7	-3.6	-4.0	-4.0	-3.8
Consolidated public sector primary balance	0.5	-4.2	0.7	0.0	0.4	0.7	0.7
NFPS balance	-2.3	-7.6	-2.5	-2.7	-3.1	-3.1	-3.1
Central government balance	-3.5	-7.9	-2.9	-3.2	-3.3	-3.1	-3.1
Revenues and grants	14.4	14.2	15.6	15.3	15.7	16.3	15.2
Primary spending	15.1	18.9	15.4	15.7	15.8	15.9	14.8
Interest expenditure	2.7	3.2	3.1	2.8	3.1	3.4	3.5
Rest of NFPS	1.1	0.3	0.4	0.6	0.2	0.0	0.0
Financial Sector	(Annual percentage change; unless otherwise stated)
Broad money (M3)	11.7	21.2	13.4	6.3	14.3	11.5	10.7
Credit to the private sector	11.8	5.3	11.6	16.6	19.6	15.8	11.5
Net domestic assets of the banking system	8.6	2.5	11.5	9.7	13.1	13.5	10.1
Policy interest rate (in percent) 1/	4.5	3.0	3.5	8.5	7.0	…	…
Average bank deposit rate (1-year; in percent) 1/	6.7	3.1	2.3	9.9	8.6	…	…
Average bank lending rate (1-year; in percent) 1/	12.4	9.9	9.2	13.5	13.6	…	…
Balance of Payments	(In percent of GDP)
Current account	-1.3	-1.7	-2.8	-5.8	-3.6	-3.4	-3.4
Goods, net	-10.2	-8.6	-12.5	-15.1	-13.0	-12.9	-12.7
Services, net	5.7	1.8	3.9	4.8	6.0	6.6	6.5
Income, net	3.2	5.2	5.7	4.5	3.5	2.9	2.7
Capital account	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Financial account 3/	3.6	5.3	5.7	6.7	5.1	3.5	4.3
Foreign direct investment, net	3.4	3.2	3.4	3.6	3.6	3.5	3.5
Portfolio investment, net	2.4	7.1	2.2	2.9	2.0	1.5	1.3
Financial derivatives, net	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other investment, net	-2.3	-5.1	0.1	0.2	-0.5	-1.5	-0.5
Change in reserves (-increase)	-1.3	-2.5	-2.4	-1.3	-0.9	-0.2	-0.9
GIR (in millions of US dollars)	8,782	10,752	12,943	14,441	15,464	15,660	16,883
Total external debt (in percent of GDP)	41.9	56.3	48.6	40.5	43.3	43.5	42.5
of which: Consolidated public sector	27.3	40.3	35.6	33.2	33.9	32.9	32.2

Sources: National authorities; World Bank; and IMF staff calculations.
1/ Latest available.
2/ The consolidated public sector includes the budgetary central government (CG); the rest of the Non-Financial Public Sector, i.e., extra-budgetary central government institutions (decentralized and autonomous institutions), social security funds, local governments and non-financial public companies; and the quasi-fiscal central bank debt. With the dissolution of the state electricity holding company (CDEEE) in 2022, the deficit of CDEEE from 2019 was transferred to the CG.
3/ Excluding reserves.

[1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

[2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Meera Louis

Phone: +1 202 623-7100Email: MEDIA@IMF.org

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2024/09/10/pr24323-dominican-republic-imf-exec-board-concludes-2024-aiv-consult

MIL OSI

MIL OSI Russia News –

September 29, 2024

MIL-OSI USA: Dodd Center to Host Bipartisan Conversation on Fostering Civic and Democratic Engagement

Source: US State of Connecticut

Members of the UConn community and the general public are invited to join in a bipartisan conversation about fostering civic and democratic engagement at The Dodd Center for Human Rights at UConn Storrs on Thursday, September 26, 2024, when Congress to Campus comes to UConn.

The flagship program of the nonprofit organization FMC – a bipartisan, voluntary alliance of former U.S. Senators and Representatives who advocate for representative democracy at home and abroad – Congress to Campus offers a unique civic educational experience by engaging honest dialogue with bipartisan teams of former members of Congress, congressional staff, and American diplomats.

“We know from our own work at UConn on programs like Democracy and Dialogues just how powerful it can be to engage in meaningful and civil discussion on the most critical issues we, as a society, are facing,” says James Waller, the inaugural Christopher J. Dodd Chair in Human Rights Practice at UConn and director of Dodd Human Rights Impact Programs, which is hosting the Congress to Campus event.

“We hope that this event will showcase how civil discourse, and even disagreement, can be a productive and healthy part of our democracy,” Waller says.

Congress to Campus sessions have been held on 183 campuses in 43 states and seven countries, reaching more than 57,000 students in the last 10 years alone.

Loretta Sanchez (contributed photo)

UConn’s Congress to Campus event will feature a discussion with the Honorable Loretta Sanchez (D-CA, 1997-2017), a former senior member of the Armed Services and Homeland Security Committees; and the Honorable Fred Upton (R-MI, 1987-2023), a former chairman of the Committee on Energy and Commerce and top Republican leader of the Subcommittee on Energy.

Their discussion will be moderated by NBC Connecticut anchor and reporter Amber Diaz ’11 (CLAS), and UConn President Radenka Maric will deliver welcoming remarks

While visiting UConn, Reps. Sanchez and Upton will also engage with members of the broader community in a series of workshops small group discussions, keynotes, and classroom visits on topics including civil discourse, messaging and disinformation, democracy and human rights, and participation and inclusion.

The event is co-sponsored by UConn’s Gladstein Family Human Rights Institute, School of Public Policy, Department of Political Science, Undergraduate Student Government, Department of Residential Life, Community Outreach, Office of Outreach and Engagement, and the Nancy A. Humphreys Institute for Political Social Work.

Fred Upton (contributed photo)

It’s supported by Citizen Travelers, the nonpartisan civic engagement initiative of Travelers.

“We’re so grateful for our many partners on this event, and we hope students as well as members of our UConn community and the greater public will join us for this important conversation,” says Waller.

The Dodd Center is home to robust academic programs and innovative external engagement in human rights, including the Gladstein Family Human Rights Institute, its Dodd Human Rights Impact Programs, the University Archives and Special Collections, and the Center for Judaic and Contemporary Jewish Life.

The outreach and engagement arm of human rights at UConn, Dodd Human Rights Impact works to develop and support programs and initiatives that seek to directly impact local and global communities by helping them meet their human rights challenges.

Space is limited. Please click here to register for this event.

For more information about Dodd Impact, visit humanrights.uconn.edu/dodd-impact-programs.

MIL OSI USA News –

September 29, 2024
MIL-OSI USA: The United States is the world’s largest gasoline exporter

Source: US Energy Information Administration

In-brief analysis

September 24, 2024

Data source: U.S. Energy Information Administration, International Energy Agency, and Facts Global Energy

The United States is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components), supplying over 16% of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day (b/d), equivalent to about 10% of domestic consumption and enough to fill up the tanks of over 1.5 million SUVs per day, assuming an average tank size of 24 gallons. Other large gasoline exporters, including Singapore and the Netherlands, have never exceeded 700,000 b/d in gasoline exports. China and India have both added significant refining capacity since 2010 and have also increased gasoline exports.

The United States was a net importer of motor gasoline for over a half century from 1961 to 2015. However, that trend changed during the past decade. The high volume of motor gasoline exports in recent years reflects longer trends in increasing U.S. exports of refined products in general, which set records in 2022 and 2023. The growth in U.S. refined product exports reflects several factors, including generally increasing refinery capacity from 2010 to 2023 and rising production from existing refineries through increased utilization. Much of the increase in refinery capacity has led to higher motor gasoline yields because of added light crude oil processing units that process increasing volumes of light tight oil produced by hydraulic fracturing, or fracking. Finally, although refinery capacity has grown, U.S. consumption of gasoline has not, making more gasoline available for export. Motor gasoline consumption in 2023 was flat compared with 2010 (and 0.4 million b/d less than its peak in 2018).

Data source: U.S. Energy Information Administration

Motor gasoline accounts for the third-largest share of U.S. refined product exports, behind propane and distillate fuel oil. Unlike propane, which is primarily exported to Asia, the majority of U.S. motor gasoline exports (over 500,000 b/d) go to Mexico, with the remainder going primarily to Central American and South American countries. Over 90% of U.S. gasoline exports came from the U.S. Gulf Coast (PADD 3).

Principal contributor: Erik Kreil

MIL OSI USA News –

September 29, 2024
MIL-OSI: Enphase Brings IQ Battery to India, Offering Energy Independence Amid Outages
Source: GlobeNewswire (MIL-OSI)

FREMONT, Calif., Sept. 24, 2024 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today the launch of its most powerful Enphase^® Energy System™ to-date, featuring the new IQ^® Battery 5P™ and IQ8™ Microinverters, for customers in India.

India’s power grid is among the most challenging in the world, with frequent outages disrupting daily life for many households. The new Enphase Energy System transforms this situation by enabling uninterrupted, reliable backup power. Key components of the system include:
- IQ Battery 5P: Enphase’s most powerful home battery yet, designed for modularity. Starting at 5 kWh, it can scale up to 40 kWh to meet varying home energy needs. With 3.84 kW continuous power and 7.68 kW peak power for short bursts, it enables homeowners to run even the most power-hungry appliances during outages. Built with advanced lithium iron phosphate (LFP) chemistry, the battery offers enhanced safety and significantly less maintenance compared to the widely used lead-acid batteries in India.
- IQ^®System Controller: The controller (or backup switch) isolates the home from the grid during outages, allowing seamless power supply from Enphase’s solar and IQ Battery 5P systems. The transition is instant, so most homeowners won’t even know there was an outage.
- IQ^®Microinverters: Homeowners can choose between IQ7 or IQ8 Microinverters. The IQ8HC™ and IQ8P™ Microinverters, launched in India last year, deliver peak AC output power of 384 W and 480 W, respectively, and seamlessly pair with solar panels up to 670 W DC. IQ8 Microinverters are grid-forming and feature Enphase’s Sunlight Jump Start™, allowing the system to restart using sunlight after a prolonged grid outage that drains the battery.
“The launch of the IQ Battery 5P marks a significant milestone for India,” said Harsha Kuntur, managing director at Ecosoch Solar. “These are some of the most advanced batteries, with built-in smart inverters that integrate seamlessly into Enphase’s ecosystem, providing complete control over both critical and non-critical loads. Homeowners can optimize energy use and ensure resilience, even under high demand. Scalable and future-ready, they allow power export to the grid during non-solar hours. With a long warranty and a durable design that eliminates any single point of failure, these batteries set a new standard in energy solutions for Indian homes.”

“Our customers are increasingly looking for energy independence, and the Enphase Energy System, powered by the new IQ Battery 5P, delivers just that,” said Rakshith Talanki, director at SunPV Energy Pvt. Ltd. “The system’s flexibility and advanced technology, including the IQ8 Microinverters, enable us to provide solutions that are not only reliable but also scalable for future growth. This gives homeowners the confidence to power through outages and reduce their reliance on the grid.”

Homeowners can use the Enphase^® App to monitor performance and intelligently manage their battery systems, including the self-consumption feature to minimize grid electricity use. The App also offers homeowners the ability to disconnect from the grid entirely and reconnect with ease, all with just a few taps when desired. Enphase provides 24/7 customer support and industry-leading warranties, including a 15-year limited warranty—extendable up to 25 years—on IQ8 Microinverters and a 15-year limited warranty on IQ Batteries activated in India. Both limited warranties require the installation of an IQ^® Relay device. The IQ Relay is integrated into the IQ System Controller for systems with IQ Batteries.

“Homeowners prioritize reliability and safety when selecting a home energy system,” said Thejas Babu, director at Thapas Energy. “The Enphase Energy System with the IQ Battery 5P is designed to provide exceptional reliability, safety, and performance, enabling homeowners to effectively harness solar power for their daily energy needs.”

“At Enphase, we strive to provide world-class technology for homeowners and businesses to support their energy needs,” said Mehran Sedigh, senior vice president of sales at Enphase Energy. “As India aims to increase its clean energy generation, we’re proud to work with our installer network across the country to equip homeowners with smart, safe, and powerful solar and battery products.”

Distributors and installers in India can now place pre-orders for the IQ Battery 5P, with shipments to installers expected to begin in December. For more information about the IQ Battery 5P in India, please visit the Enphase website.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 76.3 million microinverters, and over 4.3 million Enphase-based systems have been deployed in more than 150 countries. For more information, visit https://enphase.com/.

©2024 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, Solargraf, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

Forward-Looking Statements

This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products in India, including safety, quality and reliability; and the availability and market adoption of Enphase products in India. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

Contact:

Enphase Energy
press@enphaseenergy.com

This press release was published by a CLEAR® Verified individual.

The MIL Network –
September 29, 2024
MIL-OSI United Kingdom: G7 foreign ministers’ statement in New York, September 2024
Source: United Kingdom – Executive Government & Departments

Following the G7 Foreign Ministers’ Meeting at the High-Level Week of the UN General Assembly, the following statement was made by Chair Antonio Tajani.
1. Introduction

In today’s meeting in New York, in the wake of the Summit of the Future, the G7 Foreign Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the High Representative of the European Union reiterated their commitment to upholding the rule of law, humanitarian principles and international law, including the Charter of the United Nations, and to protecting human rights and dignity for all individuals.

They re-emphasized their determination to foster collective action in order to preserve peace and stability to address global challenges, such as the climate crisis and to advance the achievement of the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs).

In doing so, the G7 members renewed their commitment to the promotion of free societies and democratic principles, where all persons can freely exercise their rights and freedoms.

2. Summit for the Future

In the spirit of the renewed determination to strengthen the multilateral system based on the UN Charter’s principles, as reflected in the Pact for the Future adopted at the Summit of the Future by world Leaders, the G7 members committed to continue working with countries and all relevant stakeholders within the UN system through dialogue, mutual understanding and respect in the pursuit of common solutions, with the aim of upholding and reforming the multilateral system so that it better reflects today’s world and is fit to respond to the complex global challenges of the future. They reaffirmed their commitment to work with all UN member states to strengthen the roles of the UNSG as well as the UNGA. They also recommitted to the reform of the UNSC.

3. Steadfast Support to Ukraine

The G7 members reaffirmed their unwavering support to Ukraine as it defends its freedom, sovereignty, independence, and territorial integrity, against Russia’s brutal and unjustifiable war of aggression. The G7 members strongly condemned Russia’s blatant breach of international law, including the UN Charter, and of the basic principles that underpin the international order. They strongly condemned the serious violations of international humanitarian law perpetrated by Russia’s forces in Ukraine, which have caused a devastating impact on the civilian population. Violence against civilians, including women, children, and prisoners of war is unacceptable.

They expressed their outrage at Russia’s repeated attacks against critical infrastructure and they condemned in the strongest possible terms any targeting of civilian buildings and even hospitals. Ensuring the protection and resilience of Ukraine’s energy grid and its power generation capacity remains a fundamental and urgent priority as winter approaches. They welcomed the international conference on energy security held on August 22. .as well as the ongoing coordination of the G7 energy group. They reiterated their commitment to help Ukraine meet its urgent short-term financing needs, as well as support its long-term recovery and reconstruction priorities.

Russia must end its war of aggression and pay for the damage it has caused to Ukraine. The G7 members reiterated their commitment to explore and use all possible lawful avenues by which Russia is made to meet those obligations.

The launch of the Extraordinary Revenue Acceleration (ERA) Loans for Ukraine, as mandated by G7 leaders, will make available approximately USD 50 billion in additional funding to Ukraine that will be serviced and repaid by future flows of extraordinary revenues stemming from the immobilization of Russian sovereign assets held in the European Union and other relevant jurisdictions.

The G7 Foreign Ministers and the High Representative are working, together with Finance Ministers, to operationalize the G7 Leaders’ commitment by the end of the year. They will maintain solidarity in this commitment to providing this support to Ukraine. The G7 members confirmed that, consistent with all applicable laws and their respective legal systems, Russia’s sovereign assets in their jurisdictions will remain immobilized until Russia ends its aggression and pays for the damage it has caused to Ukraine.

They also committed to strengthening the Ukraine Donor Platform to help coordinate the disbursal of funds and ensure they align with Ukraine’s highest priority needs at a pace it can effectively absorb. This will play a key role in advancing Ukraine’s reforms in line with its European path and in contributing to a successful Ukraine Recovery Conference to be held in Italy in 2025.

Any use of nuclear weapons by Russia in the context of its war of aggression against Ukraine would be inadmissible. They therefore condemned in the strongest possible terms Russia’s irresponsible and threatening nuclear rhetoric, as well as its posture of strategic intimidation. They also expressed their deepest concern about the reported use of chemical weapons as well as riot control agents as a method of warfare by Russia in Ukraine.

The G7 members remained committed to holding those responsible accountable for atrocities in Ukraine, in line with international law. They also condemned the seizures of foreign companies and called on Russia to reverse these measures and seek acceptable solutions with the companies targeted by them.

They condemned Russia’s seizure and continued control and militarization of Zaporizhzhia nuclear power plant, which poses severe risks for nuclear safety and security, potentially affecting the entire international community. They reiterated their support to the International Atomic Energy Agency’s efforts directed at mitigating such risks.

They underlined once again their support for Ukraine’s right of self-defense and reiterated their commitment to Ukraine’s long-term security, recalling the launch of the Ukraine Compact in Washington on 11 July 2024. They re-affirmed the intention to increasing industrial production and delivery capabilities to assist Ukraine’s self-defense. They highlighted their support to Ukraine in its efforts to modernize its armed forces and strengthen its own defense industry. They expressed their resolve to bolster Ukraine’s air defense capabilities to save lives and protect critical infrastructure.

They remained committed to raising the costs of Russia’s war of aggression by building on the comprehensive package of sanctions and economic measures already in place. Though existing measures have had a significant impact on Russia’s war machine and ability to fund its invasion, its military is still posing a threat not just to Ukraine but also to international security.

The G7 members expressed the intention to continue taking appropriate measures, consistent with their legal systems, against actors in China and in third countries that materially support Russia’s war machine, including financial institutions, and other entities that facilitate Russia’s acquisition of items for its defense industrial base.

They expressed their intention to continue to apply significant pressure on Russian revenues from energy and other commodities. This will include improving the efficacy of the oil price cap policy by taking further steps to tighten compliance and enforcement, including against Russia’s shadow fleet, while working to maintain market stability.

They especially emphasized the urgency to support Ukraine’s energy security, including by coordinating international assistance through the G7+Ukraine Energy Coordination Group. They underscored the importance to continue working with the Ukrainian authorities and International Financial Institutions through the Ukraine Donor Platform, and by mobilizing private investments and fostering participation of civil society.

They highlighted the reality of millions of internally displaced Ukrainians and the importance of an inclusive rights-based, gender-responsive recovery, including the reintegration of veterans and civilians with disabilities, and to address the needs of women, children as well as other population groups who have been disproportionately affected by Russia’s war of aggression. They reiterated their condemnation of Russia’s unlawful deportation of Ukrainian children and welcomed coordinated efforts to secure their safe return. They called on Russia to release all persons it has unjustly detained and safely return all civilians it has illegally transferred or deported, starting with children. They welcomed the Ministerial Conference on the Human Dimension of Ukraine’s 10 point peace formula that will be hosted by Canada on October 30-31.

They reiterated the need to support Ukraine’s agriculture sector, which is critical for global food supply, particularly for the most vulnerable nations, and called for unimpeded exports of grain, foodstuffs, fertilizers and inputs from Ukraine.

They acknowledged the importance to involve the private sector in the sustainable economic recovery of Ukraine. They welcomed and underscored the significance of Ukraine itself continuing to implement domestic reform efforts, especially in the fields of anti-corruption, justice system reform, decentralization, and promotion of the rule of law. These endeavors are in line with the Euro-Atlantic path Ukraine has embraced. The G7 members were unanimous on the need to continue to support efforts of the Ukrainian government and people in these endeavors.

They resolutely condemned Russia’s holding of illegitimate ‘elections’ in the occupied Ukrainian Autonomous Republic of Crimea and the city of Sevastopol. Russia’s actions once again demonstrate its blatant disregard for Ukraine’s territorial integrity, sovereignty and independence, and the UN Charter. They called on all members of the international community to refrain from recognizing Russia’s illegitimate actions.

They welcomed the Summit on Peace in Ukraine that took place in Switzerland on June 15-16 and its focus on the key priorities needed to achieve a framework for peace based on international law, including the UN Charter and its principles, and respect for Ukraine’s sovereignty and territorial integrity. They remained committed to follow up on the Conference through constructive engagement with all international partners to reach a comprehensive, just and lasting peace.

The G7 members acknowledged that Russia continues to expand its campaigns of foreign information manipulation and interference (FIMI). They condemned Russia’s use of FIMI to support its war of aggression against Ukraine. They reiterated their determination to bolster the G7 Rapid Response Mechanism by developing a collective response framework to counter foreign threats to democracies.

4. Situation in the Middle East

The G7 members reiterated their condemnation of Hamas’ horrendous attacks on October 7, 2023. 101 hostages are still in the hands of Hamas. They noted with deep concern the trend of escalatory violence in the Middle East and its repercussions on regional stability and on the lives of civilians shattered by this conflict, from the Gaza Strip to the Israeli-Lebanese Blue Line. Actions and counter-reactions risk magnifying this dangerous spiral of violence and dragging the entire Middle East into a broader regional conflict with unimaginable consequences. They called for a stop to the current destructive cycle, while emphasizing that no country stands to gain from a further escalation in the Middle East.

They expressed their deep concern about the situation along the Blue Line. They recognized the essential stabilizing role played by the Lebanese Armed Forces and the UN Interim Force in Lebanon in mitigating that risk. They demanded the full implementation of UNSCR 1701 (2006) and urged that all relevant actors implement immediate measures towards de-escalation.

The G7 members reaffirmed their strong support for the ongoing mediation efforts undertaken by the United States, Egypt and Qatar to reach a resolution between the parties to the conflict in Gaza. They reiterated their full commitment for the implementation of the UNSC Resolution 2735 (2024) and the comprehensive deal outlined by President Biden in May that would lead to an immediate ceasefire in Gaza, the release of all hostages, a significant and sustained increase in the flow of humanitarian assistance throughout Gaza, and an enduring end to the crisis, to secure a pathway to a two-state solution with a safe Israel alongside a sovereign Palestinian state. They urged the parties to the conflict to unequivocally accept the ceasefire proposal, stressing the need for countries in a position to directly influence the parties to cooperate in strengthening mediation efforts. They called for the full implementation of the terms of the ceasefire proposal without delay and without conditions.

They called on all parties to fully comply with international law, including international humanitarian law. They expressed their deep alarm for the heavy toll this conflict has taken on civilians, deploring all losses of civilian lives equally and noting with great concern that, after nearly a year of hostilities and regional instability, it is mostly civilians, including women and children, who are paying the highest price. Protection of civilians must be an absolute priority for all parties at all times.

The G7 members expressed concern at the unprecedented level of food insecurity affecting most of the population in the Gaza Strip. Securing full, rapid, safe, and unhindered humanitarian access in all its forms and through all relevant crossing points remains an absolute priority. They urged all parties to allow the unimpeded delivery of aid and ensure protection of humanitarian workers by properly implementing de-confliction measures. They recognized the crucial role played by UN agencies and other humanitarian actors in delivering assistance especially health care for the most vulnerable persons, including the polio vaccination campaign. They expressed their support for UNRWA to effectively uphold its mandate, emphasizing the vital role that the UN Agency plays.

The G7 members reaffirmed their unwavering commitment, through reinvigorated efforts in the Middle East Peace Process, to the vision of a two-state solution where two democratic states, Israel and Palestine, live side by side in peace within secure and recognized borders, consistent with international law and relevant UN resolutions, and in this regard stress the importance of unifying the Gaza strip with the West Bank under Palestinian Authority. We note that mutual recognition, to include the recognition of a Palestinian state, at the appropriate time, would be a crucial component of that political process. They expressed their concern about the risk of weakening the Palestinian Authority and underlined the importance of maintaining economic stability in the West Bank. They welcomed the EU’s 400 million Euro emergency package for the Palestinian Authority. All parties must refrain from unilateral actions and from divisive statements that may undermine the prospect of a two-state solution, including the Israeli expansion of settlements and the “legalization” of settlement outposts. They condemned the rise in extremist settler violence committed against Palestinians, which undermines security and stability in the West Bank and threatens prospects for a lasting peace. They expressed their deep concern regarding the deteriorating security situation in the West Bank.

They reiterated their commitment to working together – and with other international partners – to closely coordinate and institutionalize their support for civil society peacebuilding efforts, ensuring that they are part of a larger strategy to build the foundation necessary for a negotiated and lasting Israeli-Palestinian peace. The G7 members called on Iran to contribute to de-escalation of tensions in the region. They demanded that Iran cease its destabilizing actions in the Middle East. They underlined that they stand ready to adopt further sanctions or take other measures in response to further destabilizing initiatives.

They reiterated their determination that Iran must never develop or acquire a nuclear weapon and that the G7 will continue working together, and with other international partners, to address Iran’s nuclear escalation. A diplomatic solution remains the best way to resolve this issue. As the IAEA remains unable to verify that Iran’s nuclear program is exclusively peaceful, they urged Iran’s leadership to cease and reverse nuclear activities that have no credible civilian justification and to cooperate with the IAEA without further delay to fully implement their legally binding safeguards agreement and their commitments under UNSCR 2231(2015).

They condemned in the strongest possible terms Iran’s export and Russia’s procurement of Iranian ballistic missiles. Evidence that Iran has continued to transfer weaponry to Russia despite repeated international calls to stop represents a further escalation of Iran’s military support to Russia’s war of aggression against Ukraine. Russia has used Iranian weaponry such as UAVs to kill Ukrainian civilians and strike their critical infrastructure.

They reiterated that Iran must immediately cease all support to Russia’s illegal and unjustifiable war against Ukraine and halt such transfers of ballistic missiles, UAVs and related technology, which constitute a direct threat to the Ukrainian people as well as European and international security more broadly.

They reaffirmed their steadfast commitment to hold Iran to account for its unacceptable support for Russia’s illegal war in Ukraine that further undermines global security. In line with their previous statements on the matter, they underscored that they are already responding with new and significant measures.

They also reiterated their deep concern about Iran’s human rights violations, especially against women and minority groups. They reiterated their call on Iran to allow access to the country to relevant UN Human Rights Council Special Procedures mandate holders.

De-escalation efforts in the region must also include the immediate and unconditional termination of any attack by the Houthis against international and commercial vessels transiting the Gulf of Aden, the Bab al-Mandeb Strait and the Red Sea. The G7 members reiterated their strong condemnation of these attacks and the right of countries to defend their vessels from attacks. They called for the immediate release by the Houthis of the Galaxy Leader and its crew. They expressed their strong concern about the August 21 attack on the merchant vessel Sounion and the ongoing risk of an environmental catastrophe as salvage operations continue. They welcomed the efforts by the EU maritime operation Aspides and by the US-led Operation Prosperity Guardian to protect vital sea lanes. They appreciated the efforts of those countries that are committed to protect freedom of navigation and trade, as well as maritime security, in line with UNSCR 2722 (2024) and in accordance with international law.

5. Fostering partnerships with African Countries

The G7 members reaffirmed their commitment to support African nations in the pursuit of sustainable development as well as the creation of jobs and growth. The focus remains on fostering fair partnerships, built on shared principles, democratic values, local leadership, and practical initiatives.

They reiterated their intention to align actions with the African Union’s Agenda 2063 and the specific needs of African countries, including plans to improve local and regional food security, infrastructure, trade, and agricultural productivity. They expressed their support for the implementation of the African Continental Free Trade Area, a crucial factor for Africa’s growth in the next decade.

The G7 members emphasized the need to strengthen mutually beneficial cooperation with African countries and regional organizations. In addition to maintaining financial support for African nations, they expressed their determination to improve the coordination and effectiveness of G7 resources, mobilizing domestic resources and encouraging increased private investments.

They welcomed the African Union’s permanent membership in the G20, and the creation of an additional Chair for Sub-Saharan Africa on the IMF Executive Board in November.

They reaffirmed their commitment to the G20 Compact with Africa, a tool aimed at enhancing private investment, driving structural reforms, supporting local entrepreneurship, and fostering cooperation, particularly in the energy sector. The G7 Partnership for Global Infrastructure and Investment (PGII), and initiatives like the EU’s Global Gateway can contribute to promote sustainable, resilient, and economically viable infrastructure in Africa, ensuring transparency in project selection, procurement, and financing. In this framework, they welcomed Italy’s Mattei Plan for Africa.

They recognized that sustainable development, peace and security and democracy go hand in hand, reaffirming their commitment to help African governments in strengthening democratic governance and respect for human rights, while addressing conditions conducive to terrorism, violent extremism, and instability.

They expressed their deep concern about the destabilizing activities of the Kremlin-backed Wagner Group and other Russia-supported entities. They called for accountability for all those responsible for human rights violations and abuses.

6. Indo-Pacific

The G7 members reiterated their commitment to a free and open Indo-Pacific, based on the rule of law, which is inclusive, prosperous and secure, grounded on sovereignty, territorial integrity, peaceful resolution of disputes, fundamental freedoms and human rights. They reaffirmed the importance of working together with regional partners and organizations, notably the Association of Southeast Asian Nations (ASEAN). They reaffirmed their thorough support for ASEAN centrality and unity. They reaffirmed their intention to work to support Pacific Island Countries’ priorities, as articulated through the 2050 Strategy for the Blue Pacific Continent.

As they seek constructive and stable relations with China, they recognized the importance of direct and candid engagement to express concerns and manage differences. They reaffirmed their readiness to cooperate with China to address global challenges. They expressed their deep concern at the China’s support to Russia. They called on China to step up efforts to promote international peace and security, and to press Russia to stop its military aggression and immediately, completely and unconditionally withdraw its troops from Ukraine. They encouraged China to support a comprehensive, just and lasting peace based on territorial integrity and the principles and purposes of the UN Charter, including through its direct dialogue with Ukraine. They also expressed their deep concern at China’s ongoing support for Russia’s defense industrial base, which is enabling Russia to maintain its illegal war in Ukraine and has significant and broad-based security implications. They called on China to cease the transfer of dual-use materials, including weapons components and equipment, that are inputs for Russia’s defense sector.

They recognized the importance of China in global trade. However, they expressed their concerns about China’s persistent industrial targeting and comprehensive non-market policies and practices that are leading to global spillovers, market distortions and harmful overcapacity in a growing range of sectors, undermining our workers, industries and economic resilience and security, as well as impacting on currencies. The G7 members are not decoupling or turning inwards. They are de-risking and diversifying supply chains where necessary and appropriate and fostering resilience to economic coercion. They called on China to refrain from adopting export control measures, particularly on critical minerals, that could lead to significant supply chain disruptions. Together with partners, the G7 members will invest in building their respective industrial capacities, promote diversified and resilient supply chains, and reduce critical dependencies and vulnerabilities.

They remained seriously concerned about the situation in the East and South China Seas and reiterated their strong opposition to any unilateral attempt to change the status quo by force or coercion. They reaffirmed that there is no legal basis for China’s expansive maritime claims in the South China Sea, and they reiterated their opposition to China’s militarization and coercive and intimidation activities in the South China Sea. They re-emphasized the universal and unified character of the United Nations Convention on the Law of the Sea (UNCLOS) and reaffirmed UNCLOS’s important role in setting out the legal framework that governs all activities in the oceans and the seas. They reiterated that the award rendered by the Arbitral Tribunal on 12 July 2016 is a significant milestone, which is legally binding upon the parties to those proceedings and a useful basis for peacefully resolving disputes between the parties. They reiterated their strong opposition to China’s dangerous use of coast guard and maritime militia in the South China Sea and its repeated obstruction of countries’ high seas freedom of navigation. They expressed deep concern about the dangerous and obstructive maneuvers, including water cannons and ramming, by the China Coast Guard and maritime militia against Philippines vessels.

The G7 members reaffirmed that maintaining peace and stability across the Taiwan Strait is indispensable to international security and prosperity, and called for the peaceful resolution of cross-Strait issues. There is no change in the basic position of the G7 members on Taiwan, including stated One-China policies. They supported Taiwan’s meaningful participation in international organizations as a member where statehood is not a prerequisite and as an observer or guest where it is.

They remained concerned by the human rights situation in China, including in Xinjiang and Tibet. They are also worried about the crackdown on Hong Kong’s autonomy and independent institutions, and ongoing erosion of rights and freedoms. They urged China and the Hong Kong authorities to act in accordance with their international commitments and applicable legal obligations.

The G7 members strongly condemned North Korea’s continuing expansion of its unlawful nuclear and ballistic missile programs in violation of multiple UNSC resolutions and its continuous destabilizing activities. They reiterated their call for the complete denuclearization of the Korean Peninsula and demanded that North Korea abandons all its nuclear weapons, existing nuclear programs, and any other WMD and ballistic missile programs in a complete, verifiable and irreversible manner, in accordance with all relevant UNSC resolutions. They called on North Korea to return to dialogue to promote peace and stability in the Korean peninsula. They urged all UN Member States to fully implement all relevant UN Security Council resolutions. They reiterated their deep disappointment with Russia’s veto last March on the mandate renewal of the UNSC 1718 Committee Panel of Experts.

They condemned in the strongest possible terms the increasing military cooperation between North Korea and Russia, including North Korea’s export and Russia’s procurement of North Korean ballistic missiles and munitions in direct violation of relevant UNSCRs, as well as Russia’s use of these missiles and munitions against Ukraine. They are also deeply concerned about the potential for any transfer of nuclear or ballistic missiles-related technology to North Korea, in violation of the relevant UNSCRs. They urged Russia and North Korea to immediately cease all such activities and abide by relevant UNSCRs. They urged North Korea to respect human rights, facilitate access for international humanitarian organizations, and resolve the abductions issue immediately.

They called on China not to conduct or condone activities aimed at undermining the security and safety of our communities and the integrity of our democratic institutions, and to act in strict accordance with its obligations under the Vienna Convention on Diplomatic Relations and the Vienna Convention on Consular Relations.

7. Regional Issues

Venezuela

The G7 members reiterated their deep concern about the situation in Venezuela, following the vote on July 28.

They emphasized that the announced victory of Maduro lacks credibility and democratic legitimacy, as indicated by reports of the UN Panel of Experts and independent international observers as well as data published by the opposition. They underscored that it is essential for electoral results to be complete and independently verified to ensure respect for the will of the Venezuelan people.

They expressed their outrage for the arrest warrant and constant threats to the security of Edmundo Gonzalez Urrutia, who decided to seek refuge in Spain. According to the above-mentioned independent reports, Edmundo Gonzalez Urrutia appears to have won the most votes.

They urged Venezuelan representatives to cease all human rights violations and abuses, arbitrary detentions and widespread restrictions on fundamental freedoms, particularly affecting the political opposition, human rights defenders, and representatives of independent media and civil society. They called for the release of all political prisoners and for a path to freedom and democracy for the people of Venezuela.

They urged the international community to keep Venezuela high on the diplomatic agenda and they expressed their support for efforts by regional partners to facilitate the Venezuelan-led democratic and peaceful transition that the people of Venezuela have clearly chosen in the polls.

Haiti

The G7 members expressed their determination to continue supporting Haitian institutions – including the Transitional Presidential Council (CPT) and the Government of Prime Minister Conille – in their commitment to create the necessary conditions of general security and stability for the convening, by February 2026, of free and fair elections. The expression of popular will would set the foundation for the full restoration of democracy and the rule of law in Haiti.

They also expressed full support to the Multinational Security Support (MSS) mission, which is providing critical support to the Haitian National Police as they counter criminal gangs engaged in illicit trafficking and inflicting brutal violence upon the population.

The G7 members emphasized the importance of continued support to the MSS mission through financial contributions to the UN Trust Fund as well as contributions in kind. They expressed their strong appreciation for the commitment of the Government of Kenya – which has already deployed 380 personnel on the ground – to support the Haitian National Police in restoring peace and security.

They called on all countries that have committed to deploy their contingents to the MSS mission to do so as soon as possible, to consolidate the mission and its fundamental role in the Country. They called on Haiti’s partners to continue their humanitarian assistance to the Haitian people and to expedite their financial and in-kind contributions to the MSS mission to help ensure that the mission is resourced for success.

They called also on the United Nations Security Council to consider a UN Peace Operation to maintain the security gains of the Haiti National Police and the MSS mission for holding free and fair elections and called on the Secretary-General accordingly to provide support.

The G7 members welcomed the work of the G7 Working Group on Haiti in monitoring institutional, political, social and security developments in Haiti, with a view to supporting the stabilization of the country and the restoration of full democratic governance.

Libya

The G7 members reiterated their unwavering commitment to Libyan stability, sovereignty, independence and unity. They expressed deep concern about recent developments in the country, in particular those involving the leadership of the Central Bank of Libya and the High Council of State, which show the fragility and unsustainability of the present status quo. They urged relevant Libyan parties to rapidly reach the necessary compromises to begin to restore the institutional integrity of the Central Bank of Libya and its standing with the international financial community. They called on Libyan political actors to refrain from taking harmful unilateral actions that create further political tension and fragmentation and make the country vulnerable to harmful foreign interference.

They noted advances made in the organization of local elections and they called for a free, fair and inclusive participation of all Libyans. It is now imperative to relaunch a Libyan-led and Libyan-owned political process facilitated by the UN towards free and fair presidential and parliamentary elections.

They expressed their support and commended the efforts made by UNSMIL officer in charge Stephanie Koury in support of the stabilization of Libya. They called on the Secretary General to appoint a new Special Representative without delay.

Sudan

The G7 members reiterated their grave concern over the ongoing fighting, mass-displacement and famine in Sudan.

They condemned the serious human rights violations and abuses against the civilian population, including widespread sexual and gender-based violence, as well as international humanitarian law violations by both sides to the conflict. They called for an immediate end to the escalating violence, which is creating further displacement, and urged the warring parties to ensure the protection of civilians. They reiterated their commitment to holding accountable all those responsible for violations of international law in Sudan.

They condemned the emergence of famine in Sudan as a direct consequence of efforts to restrict access of humanitarian actors. They noted recent progress in relation to the re-opening of the Chad-Sudan Adre border crossing, in the wake of the Paris Conference and of the Geneva talks. They called for full, rapid, safe, and unhindered humanitarian access both into Sudan and across lines of conflict so aid can reach all those in need.

They urged all parties to cease hostilities immediately and to engage in serious negotiations aimed at achieving a lasting ceasefire, humanitarian access and protection of civilians without pre-conditions.

They called on external actors to refrain from fueling the conflict, to respect the UN arms embargo on Darfur, and to play a responsible role in resolving the crisis.

They welcomed mediation efforts by regional and international actors and organizations to facilitate a durable peace for the country.

Inclusive, national dialogue, aimed at restoring democracy, re-establishing and strengthening the civilian and representative institutions after the end of the conflict, is a prerequisite for lasting peace. The G7 Members emphasized that it is necessary for representatives of Sudanese civil society, including women, to be fully engaged in the reflection on the political future of the country.

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Updates to this page

Published 24 September 2024
MIL OSI United Kingdom –
September 29, 2024
MIL-OSI: Standard Lithium Reports 2024 Full Year and Fourth Quarter Results
Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, Sept. 24, 2024 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV:SLI) (NYSE American:SLI) (FRA:S5L), a leading near-commercial lithium company, today announced its financial and operating results for the fiscal fourth quarter and year ended June 30, 2024.

“We delivered on our promises in fiscal 2024 with the advancement of our world-class lithium brine assets and by securing a strategic partnership with global energy major, Equinor,” said David Park, CEO and Director of Standard Lithium. “Standard Lithium holds globally-significant lithium brine assets in the Smackover with the potential to help meet the growing demand for sustainable lithium production in the U.S. We are the most advanced DLE play in North America, having proven direct lithium extraction at a commercial scale. The Standard Lithium team has done an outstanding job of differentiating itself from the pack by systematically de-risking its business, including the consummation of it’s partnerships with Equinor and Koch. Now, with the recent announcement of the conditional DOE grant of US$225 million, is the time for us to prioritize, focus and execute. We look forward to working closely with our partners to advance our South West Arkansas and East Texas projects.”

Highlights Subsequent to the Fourth Quarter Ended June 30, 2024

All amounts are in US dollars unless otherwise indicated.
- Received conditional $225 million grant from the U.S. Department of Energy (“DOE”) for the South West Arkansas Project. The grant is expected to support the construction of the Central Processing Facility for Phase 1 of the SWA project and is dependent on successful negotiations with the DOE. The grant is one of the largest ever awarded to a U.S. critical minerals project.
- Appointed David Park as Chief Executive Officer and Director of the Company. On September 1, 2024, Mr. Park, a highly experienced executive with a strong energy and industrial sector background, assumed the position of Chief Executive Officer. Mr. Park joined the company as a strategic advisor in July 2023 following his retirement from Koch Industries after 28 years.
Fourth Quarter and Full Year 2024 Highlights
- Secured strategic partnership with global energy major Equinor to advance the South West Arkansas (“SWA”) and East Texas projects. Equinor ASA (“Equinor”) acquired a 45% interest in two Standard Lithium entities holding the SWA and East Texas projects for a gross investment of up to $160 million. The transaction immediately strengthened the Company’s financial position and resulted in no dilution to existing shareholders.
- De-risked commercialization of the direct lithium extraction (“DLE”) process. The Company successfully installed, commissioned, and continues to operate the Li-Pro^TM Lithium Selective Sorption commercial scale unit at its Demonstration Plant in El Dorado, Arkansas. The Company’s partner, Koch Technology Solutions, supplied the commercial scale unit, which is believed to be the largest commercial-scale column operating in a DLE facility globally. The results to date have exceeded design parameters, including average lithium recovery of 97.3%, key contaminant rejection of greater than 99%, and boron rejection greater than 95%.
- Executed drilling programs yielding the highest-ever reported lithium brine values in North America. The South West Arkansas Project’s current resource averages among the highest lithium concentrations in North America. As part of its PFS for SWA, the Company reported an Upper Smackover Indicated and Middle Smackover Inferred resource of 1.4 Mt and 0.4 Mt lithium carbonate equivalent, respectively, at an average lithium concentration of 437 mg/L. In East Texas, the Company delivered globally-significant results with confirmed lithium concentrations up to 806 mg/L and an average concentration of 644 mg/L in the drilled area. The drill results represent the highest-ever reported and confirmed lithium brine concentrations in North America.
- Advanced and de-risked the South West Arkansas Project. The Company delivered a Preliminary Feasibility Study (“PFS”) for the project in the first half of the fiscal year, demonstrating robust economics assuming average annual production of 30,000 tonnes per annum (“tpa”) of lithium hydroxide beginning in 2027. Post publishing the PFS, the Company secured brine production rights and purchased a 118-acre parcel of land to further advance the project. Most recently, SWA received a conditional $225 million grant from the U.S. Department of Energy in support of its construction and development. The grant was awarded based on an updated scope from the original PFS; the Project’s design is being updated and now targets a larger total output of 45,000 tpa of lithium carbonate to be developed in two phases of 22,500 tpa each. SWA is being developed in partnership with Equinor, with ownership shared 55% by Standard Lithium and 45% by Equinor. Ausenco Engineering Canada ULC is leading the Definitive Feasibility Study and Front-end Engineering and Design currently underway to support the larger project scope.
- Strengthened the senior management team with the appointment of key executives. Michael Barman was appointed Chief Development Officer and Salah Gamoudi joined as Chief Financial Officer. Mr. Barman most recently served as Managing Director in Investment Banking at Stifel Nicolaus Canada Inc. (formerly GMP Securities L.P.) and brings over two decades of banking experience advising senior executives and their boards. Mr. Gamoudi brings extensive experience from the oil and gas sector. Prior to joining the Company, he served as Chief Financial Officer of SandRidge Energy, Inc. where he successfully generated significant value for its shareholders.
- Delivered the Definitive Feasibility Study (“DFS”) for the Phase 1A project at LANXESS South Plant. The DFS assumed an average annual production of 5,400 tpa of lithium carbonate over a 25-year operating life beginning in 2026. Phase 1A represents a modest scale-up from the Company’s existing Demonstration Plant that has been operating since May 2020. Advancement of the Phase 1A project is dependent on ongoing commercial discussions with LANXESS and the finalization of the Arkansas lithium royalty.
- Established an at-the-market equity program. Net proceeds to the Company for the fiscal year totaled C$2.8 million and US$13.3 million from the issuance of 1.5 million shares on the TSX Venture Exchange and 9.1 million shares on the NYSE American LLC, respectively. No issuances have been completed under the ATM Program since April 10, 2024.
- Cash and working capital of C$52.9 million and C$39.6 million, respectively, as of June 30, 2024.
- The Company has no term or revolving debt obligations as of June 30, 2024.
Consolidated Financial Statements

This news release should be read in conjunction with the Company’s Consolidated Financial Statements and MD&A for the year ended June 30, 2024, which are available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

Q4 AND FISCAL YEAR 2024 RESULTS CONFERENCE CALL AND WEBCAST

The Company will hold a conference call and webcast to discuss its fourth quarter and fiscal year 2024 on Tuesday, October 1st at 3:30 p.m. ET. Access to the call is available via webcast or direct dial.

Conference Call and Webcast Details
Standard Lithium Fourth Quarter and Fiscal Year 2024 Results Call and Webcast
October 1, 2024 3:30 p.m. Eastern Time (US and Canada)

Participant Information:
USA / International Toll +1 (646) 307-1963
USA – Toll-Free (800) 715-9871
Canada – Toronto (647) 932-3411
Canada – Toll-Free (800) 715-9871

Attendee Webcast Link:
https://events.q4inc.com/attendee/719576289

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The Company prioritizes projects characterized by the highest quality resources, robust infrastructure, skilled labor, and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated Direct Lithium Extraction (“DLE”) and purification process. The Company’s flagship projects are located in the Smackover Formation, a world-class lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor ASA, Standard Lithium is advancing the South West Arkansas project, a greenfield project located in southern Arkansas, and actively exploring promising lithium brine prospects in East Texas. Additionally, the Company is advancing the Phase 1A project in partnership with LANXESS Corporation, a brownfield development project located in southern Arkansas. Standard Lithium also holds an interest in certain mineral leases in the Mojave Desert in San Bernardino County, California.

Standard Lithium trades on both the TSX Venture Exchange and the NYSE American under the symbol “SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.

Qualified Person

Steve Ross, P.Geol., a qualified person as defined by National Instrument 43-101, and Vice President Resource Development for the Company, has reviewed and approved the relevant scientific and technical information in this news release.

Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to intended development timelines, future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for lithium and its derivatives, changes in exploration costs and government regulation in Canada and the United States, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

The MIL Network –
September 29, 2024
MIL-OSI United Nations: Deputy Secretary-General’s remarks at the Third Gathering of the Global Group of Heads of State and Government for the Prevention and Control of Noncommunicable Diseases [as prepared for delivery]

Source: United Nations secretary general

Excellencies,

I want to begin by thanking the Prime Minister of Antigua and Barbuda, Gaston Browne, and WHO Director-General, Dr. Tedros Ghebreyesusas, as well as all of our distinguished guests present for this special occasion.

Our gathering today marks a critical milestone; we are one year away from the next UN high-level meeting on NCDs, and just less than six years out from the 2030 SDG deadline.

Yet despite the ticking clock above our heads, underinvestment in health services has become a deadly norm; the gap between the need for, and availability of, quality care and support for people affected by NCDs remains as wide as ever.

Meanwhile, the SDGs, intricately linked with NCDs and mental illness, are careening off-track.

We are best placed to improve health outcomes for NCDs only if we fully know and understand the complex relationship between NCDs and the global goals.

Excellencies,

Let me briefly outline this connection on three fronts.

First, we must fully understand the link between health, climate change and air pollution.

Extreme weather events, such as heatwaves, storms and floods, impact people living with NCDs by worsening their conditions.

When food systems are disrupted, the opportunities and capacities to maintain healthy diets diminish.

When the air we breathe is toxic, our health can no longer be sustained. Ninety-nine per cent of humanity breathes polluted air – leading to an estimated 8 million premature deaths – including more than 700,000 children under five.

Small island nations understand this deadly interplay all too well, and I commend the bold action championed by many on this front.

Second, NCDs and the economy are inextricably linked.

High out-of-pocket payments for NCD treatment push many people into poverty. Chronic conditions also take people out of work with little or no alternative income, continuing the vicious cycle.

Third, and finally, let me underscore the tragic connection between health, conflict and emergencies.

We are living through a time where conflicts are raging across the globe. In times like these of crisis, the needs of people living with NCDs and mental health conditions, are often left unmet and left behind.

Access to essential medicines is cut off.

Acute mental distress increases.

The impacts of COVID-19 still linger on. The world is still catching up on delayed vaccinations and key health services, most of which are related to the prevention of NCDs.

Excellencies,

We are gathered here today because only political will can help turn the tide. Your political commitments and actions are critical to building more resilient health systems that address these equity gaps.

To succeed in the fight against NCDs, governments must act decisively by integrating One Health principles, strengthening national NCD action plans, ensuring equitable access for vulnerable populations, and allocating sustainable funding to public health initiatives that reduce NCD risk factors and address root causes.

The critical role of research for development, robust data systems, accelerating innovation and technologies in advancing solutions to NCDs is also key.

So today, my ask of you is simple: let’s collaborate across borders, sectors, and disciplines to build a more resilient, healthy world for all.

I hope our conversation today will spark optimism and the bold decision-making that is needed at this critical juncture.

We have 52 weeks left to the next high-level meeting on NCDs – let’s make them count.

Thank you.

MIL OSI United Nations News –

September 29, 2024
MIL-OSI USA: ICYMI: Murphy Administration Releases Innovative 2024 Statewide Water Supply Plan to Modernize Water Policy and Enhance Climate Resilience
Source: US State of New Jersey

TRENTON – Kicking off Climate Week, Environmental Protection Commissioner Shawn M. LaTourette today announced the release of the final 2024 New Jersey Statewide Water Supply Plan, which for the first time assesses water supply challenges resulting from climate change and offers climate resilience solutions. Climate Week provides an opportunity for the public to learn about the many ways climate change is threatening the planet and the steps that can be taken to become more resilient and mitigate its impacts.

The water supply plan concludes that, under normal conditions and in most regions, New Jersey has adequate volumes of source water supply and is well-positioned to address water supply challenges as long as the state continues to take actions to mitigate the threats of climate change, aging infrastructure and emerging contaminants.

“The Statewide Water Supply Plan plays a critical role to inform local water supply management decisions by presenting the newest science to better prepare us for the challenges brought on by our changing climate,” said Commissioner LaTourette. “In addition to upgrading our aging infrastructure, a healthy water supply is dependent on constant reevaluation of how we can use water more efficiently to protect it for future generations.”

Consistent with the state’s comprehensive approach to making New Jersey resilient to the worsening impacts of climate change, the 2024 plan seeks to assess the threats of climate change to the state’s water supply. Of particular concern are temperature, precipitation, and sea-level changes, which will significantly impact water quantity, where and when it is available, and its quality. The plan also examines how emerging contaminants may impact water supply.

“New Jersey’s climate is changing. From increased temperatures to sea-level rise, these climate impacts can pose a threat to our water supplies if not properly addressed by proactive planning, management, and permitting,” said State Geologist Steven Domber. “By conducting comprehensive monitoring that factors in climate impacts such as increased temperatures, we can develop models and identify trends that will help local water users make informed decisions to ensure New Jerseyans have access to reliable and safe supplies of water now and in the future.”

A 60-day public comment period followed the release of the draft plan on February 26, 2024. The DEP then held two public meetings (one in-person and one virtual) and reviewed and incorporated comments from those meetings before finalizing the plan. Both the plan and a summary response to comment report are available at dep.nj.gov/water-supply-plan.

The DEP has also developed a new interactive website that outlines key information from the plan for specific audiences, including residential users, water professionals and others to summarize key plan topics, such as climate change and environmental justice. The website can be found at dep.nj.gov/water-supply-plan/storymap. The site will be updated as additional data and plan updates become available.

Water Supply Planning

The Water Supply Management Act (N.J.S.A. 58:1A-13) directs the DEP to prepare the New Jersey Statewide Water Supply Plan, analyze water supply data, examine associated risks, study projections, and make recommendations for effective management of the state’s water supplies.

The initial version of the plan was adopted in 1982 and updated in 1983, 1985, 1987, 1991, and 1993. Major revisions occurred in 1996 and 2017. The 2024 plan will be updated again in five years, but some aspects may be revised sooner.

The plan must carry out its assessments and recommendations from both statewide and regional perspectives to pursue comprehensive management addressing the diversity of water supply issues faced in different areas of New Jersey.

Drafted to align with the DEP’s related water regulations and policies, the plan provides guidance for state and regional groups making decisions concerning water supply. One of the primary goals of the plan is to put forward defined, actionable steps that the DEP can take to ensure water supplies are sufficient, in quality and quantity, to meet existing and future needs.

Water Supply Challenges Assessed

New Jersey has repeatedly faced a confluence of water resource challenges that have tested both infrastructure and responsiveness. Extremely low precipitation and streamflow in summer 2022 led the DEP to declare a Drought Watch, the first in more than six years. During the same period, aging infrastructure failed, resulting in massive water main breaks; water systems were required to address sources contaminated with per- and polyfluoroalkyl substances (PFAS), and harmful algal blooms were worsened by extremely warm temperatures. Additional challenges occurred in 2023, with four months experiencing near record temperatures and the state having its wettest December on record.

The combination of these challenges in 2022 and 2023 severely tested the resilience of New Jersey’s management of water resources. Such conditions are expected to persist or worsen in the future, requiring the DEP and its partner institutions to delicately balance the management of water resources by carefully administering planning, regulatory, investment and incident response initiatives.

Recommended Action Areas

The availability of surface water, unconfined groundwater, and confined aquifers, the use of which varies geographically, was modeled to investigate potential shortages. Although not evenly distributed throughout the state, total natural water resource availability (including reservoirs) remains about the same as the 2017 New Jersey Statewide Water Supply Plan determined. However, current and forecasted use did change, and a few regions showed potential shortages. The plan provides details and recommendations to address these areas.

To meet requirements and ensure that New Jerseyans continue to have ample, reliable, and safe supplies of water now and in the future, the following action areas are covered in the plan, with greater detail on each found in Chapter 8, and elsewhere throughout the plan:
- Hydrologic Data, Monitoring, Models, and Assessments: The availability of long-term and real-time hydrologic datasets are critical pieces of information the DEP uses to quantify trends, characterize current conditions, and to build and calibrate models. This information is used to ultimately make informed decisions and to update future water supply plans.
- Climate Change – Water Availability Research and Modeling: This plan and its recommendations benefit from the availability of sound and reliable climate change science. This science continues to evolve, and the DEP will remain committed to monitoring new developments, with a particularized focus on the regional and local impacts of climate change upon New Jersey and its natural resources. As new and additional climate change data becomes available, it will be utilized to improve DEP water supply models and monitoring methods to more effectively mitigate and manage climate change impacts to water resources.
- Climate Change – Infrastructure Resilience Recommendations: The DEP develops recommendations and establishes criteria to improve the resilience of water infrastructure and mitigate the adverse impacts of climate change upon the state’s water supply, including through actions to reform relevant DEP policies, protocols, statutes, or regulations pertaining to water infrastructure assessments and modifications.
- Regional and Statewide Water Supply Planning and Protection: Water supply planning is a critical element to ensure that the state continues to have adequate supplies of acceptable quality to meet all current and future needs, and to balance human uses with ecological needs. Regional and statewide planning is adaptive and evolves as new information becomes available or issues emerge. The plan prioritizes regions of New Jersey where future planning efforts should be focused.
- Water Policy Modernization: The DEP is obligated and empowered to improve and protect water supply resources and water system infrastructure to ensure water availability and the delivery of safe drinking water to homes and businesses. In some cases, the federal and state laws and regulations that give rise to these obligations are fit for modernization to better position the state and its water providers to confront new and evolving water supply challenges.
- Asset Management and Resilience: Maintenance and improvement of infrastructure is key to effective and successful water supply management, and critical to ensure the state has access to clean and plentiful drinking water. Proper asset management can reduce water incidents and emergencies, limit disruptions to customers, and reduce long-term costs.
- Policies and Priorities for Efficient Water Use: The plan identifies key policy priorities for the DEP as it continues to regularly re-evaluate new technologies and research to ensure the responsible and efficient use of the state’s water resources.
- Public Outreach: DEP is committed to continuing public education and engaging with people and communities it serves on key water supply issues and initiatives.
The DEP’s Our Water’s Worth It campaign works to draw attention to the importance of clean water in our lives, from drinking water to supporting vibrant ecosystems and health places for recreation. An important focus of the campaign is educating the public on reducing potential lead exposure in drinking water.

NEW YORK, NY — The U.S. Climate Alliance, a bipartisan coalition of 24 governors representing approximately 60 percent of the U.S. economy and 55 percent of the U.S. population, today launched the Governors’ Climate-Ready Workforce Initiative to grow career pathways in climate and clean energy fields, strengthen workforce diversity, and jointly train 1 million new registered apprentices by 2035 across the Alliance’s states and territories.

Today’s announcement was made at a Climate Week NYC event featuring Alliance co-chairs New York Governor Kathy Hochul and New Mexico Governor Michelle Lujan Grisham, founding member Washington Governor Jay Inslee, and White House National Climate Advisor Ali Zaidi.

“In New York, we’re showing how climate action and economic growth go hand-in-hand,” said New York Gov. Kathy Hochul. “As a co-chair of the U.S. Climate Alliance, I’m proud to be collaborating with states, industry leaders, labor unions, higher education and community organizations to create the jobs of the future required to build a clean, equitable, and resilient economy. A skilled and well-prepared workforce will drive innovation, create new businesses, and ensure a sustainable, resilient future for our country.”

“We need a climate-ready workforce — from EV technicians and heat pump installers to solar panel manufacturers — to meet our carbon reduction goals,” said New Mexico Gov. Michelle Lujan Grisham. “The Executive Order I’m issuing today in conjunction with the Alliance’s new Workforce Initiative will help ensure that workers from all backgrounds have access to the skills and training needed for high-quality, climate-ready jobs across New Mexico.”

“We’re aligning our ambitious climate policies with workforce development to have 1 million more workers poised to take these good-paying, union jobs that serve our communities and strengthen our economies,” said Washington Gov. Jay Gov. Inslee. “These are economy-wide jobs, not just in clean energy but building trades, land management, clean technology and more. Climate Alliance states have a track record of meeting our ambitious goals and that momentum continues today.”

“Under President Biden and Vice President Harris’s leadership, we are bringing down the barriers to economic opportunity, lowering costs for American families, and catalyzing a renaissance of American-made manufacturing that is creating jobs across America. In fact, just last year, we added over 250,000 new American energy jobs — with clean energy jobs growing twice as fast as the rest of the sector,” said White House National Climate Advisor Ali Zaidi. “Governors across America are at the forefront of our efforts to spur growth in union jobs, expand American energy production, and invest in the economic success of our communities. Today’s announcement will help capitalize on our momentum to create a climate-ready workforce that is rebuilding our nation’s infrastructure, communities, and industrial strength.”

The Initiative’s launch comes as historic federal investments, combined with ambitious state climate action, have unleashed a significant expansion of good-paying and union jobs in climate-ready fields — with millions more anticipated in the coming years under the Biden-Harris administration’s Inflation Reduction Act and Infrastructure Investment and Jobs Act. This includes high-quality jobs not only in clean energy and clean technology sectors — such as wind, solar, electric vehicles, energy efficiency, and batteries — but also in fields associated with climate resilience and natural climate solutions.

Under this Initiative, Alliance states and territories will collaborate to collectively support 1 million new workers in completing Registered Apprenticeship programs across the coalition by 2035. These programs, registered with the U.S. Department of Labor or federally approved State Apprenticeship Agencies, provide an especially valuable and proven career pathway, empowering workers to earn while they learn in key climate-ready occupations and industries.

Alliance members will also advance a series of collective goals aimed at strengthening and expanding pathways into a wide variety of climate-ready professions critical to building a clean, equitable, and resilient net-zero future. The Initiative’s goals include boosting job quality and ensuring climate-ready employment pathways lead to good-paying, high-quality jobs; expanding opportunities for workers from underrepresented and underserved communities; and promoting the use of stackable and portable credentials in climate-ready fields to build transferable skills, support reskilling and upskilling, and strengthen workers’ economic mobility. A full list of the Initiative’s goals can be found here.

Finally, to advance sector-specific strategies, Alliance members will work together through new multi-state cohorts focused on in-demand, climate-ready fields. These cohorts will provide a platform for states and territories to increase collaboration, share evidence-based practices, engage experts and stakeholders, and develop sectoral workforce solutions that can be scaled across the country. Cohorts to be launched in the Initiative’s first year will focus on careers in the following areas:
- Clean Energy, Fuels, and Technologies: Led by Michigan and New Jersey, this cohort will focus on careers in the design, construction, and maintenance of a clean, affordable, and resilient power system; the manufacturing and deployment of zero-emission vehicles and technologies; and the development and distribution of alternative, low-carbon fuels.
- Clean Buildings and Industry: Led by Maine and Massachusetts, this cohort will focus on careers in the engineering, design, construction, retrofitting, maintenance, and operation of buildings and industrial processes that are clean, energy-efficient, healthy, and resilient.
- Resilient Communities and Lands: Led by Arizona and Vermont, this cohort will focus on careers in the development and maintenance of safe, livable, and resilient communities; preparedness for and response to climate impacts such as extreme heat, wildfires, severe storms, flooding, and drought; and the deployment of natural climate solutions and climate-smart stewardship of our lands and waters.
The Initiative will be led by Alliance states and territories with support from the Alliance’s Secretariat. In implementing the Initiative, Alliance members will customize efforts to meet their individual needs and challenges, while working together to achieve the collective goals. States and territories will also collaborate directly with their workforce development system partners, labor unions, higher education institutions, industry, and other key partners that bring substantial expertise and experience in this work.

This Initiative builds on a number of federal-state collaborations between the Alliance’s members and the Biden-Harris Administration, including a White House convening with Alliance governors’ offices in May focused on creating good-paying jobs and mobilizing a diverse workforce in climate and clean energy.

Additional information on the Governors’ Climate-Ready Workforce Initiative can be found here.

MIL OSI USA News –
September 29, 2024
MIL-OSI Global: Egypt’s fears about Ethiopia’s mega-dam haven’t come to pass: moving on from historical concerns would benefit the whole region

Source: The Conversation – Africa – By Mike Muller, Visiting Adjunct Professor, School of Governance, University of the Witwatersrand

A new round of angry exchanges has broken out between Egypt and Ethiopia over the Grand Ethiopian Renaissance Dam (GERD).

On September 1, Cairo wrote to the UN security council to protest against Ethiopia’s continued filling of Africa’s second largest reservoir and bringing two more power generating turbines into operation. Egypt sees any new infrastructure development on the Nile as a potential threat, since the river is the source of over 98% of the country’s water.

Egypt calls this a violation of international law and Ethiopia’s obligations to “prevent significant harm”. Ethiopia’s policies, it says,

could result in an existential threat to Egypt … and would consequently jeopardise regional and international peace and security.

Ethiopia has told Egypt to “abandon its aggressive approach” towards the dam. Ethiopia says that it must allow the Blue Nile’s water to flow through the dam’s turbines and on to Egypt to generate the hydropower for which it has been built, thus guaranteeing the overall flow to Egypt.

I have tracked the Nile disputes since the 1970s, first as a development journalist, then as a civil engineer and senior public servant. More recently, my research on water and regional integration for regional development agencies has provided further insights. My 2021 study considered the lessons to be learnt for today’s water challenges from centuries of the use and management of Nile waters.

Read more:
Innovations on the Nile over millennia offer lessons in engineering sustainable futures

Ongoing tension between Egypt and Ethiopia over control of the Nile River has a long history. Therefore, in one sense, the row between Egypt and Ethiopia is nothing new.

The countries went to war as far back as 1874, even as they both were also battling European colonialism. Ethiopia won the war of 1874 and, 20 years later, beat back Italy’s attempt to colonise it, at the battle of Adwa.

However, Egypt gained long term advantage from treaties negotiated by the British, which gave Cairo almost total control over the Nile. Egypt is still asserting the rights and privileges conferred by those colonial era treaties even though they are being challenged by other Nile countries. In my view, this is because Egyptians are still trapped by their past fears. As Norwegian professor Torje Tvedt has explained, these fears were deliberately entrenched by past colonial authorities.

With these perspectives, my view is that the current controversy over the Ethiopian dam still reflects historical conflicts rather than a careful analysis of present challenges.

Now 90% complete, the Grand Ethiopian Renaissance Dam has begun to generate electricity. A series of good rainy seasons have allowed the reservoir to start filling rapidly without affecting Egypt’s water availability.

The Grand Ethiopian Renaissance Dam offers not just cheap green electricity for Ethiopia and the sub-region as well as reliable irrigation supplies and flood control for Sudan. Once filled, its storage could offer supply security and increase the amount of water available for Egypt as well.

The Grand Ethiopian Renaissance Dam

What, then, are the issues that have prompted Egypt’s recent protests and what are the possible solutions to the problems raised?

The immediate technical challenge is to continue filling the dam without disrupting flows to Sudan and Egypt. The filling process might have to be interrupted if there is a regional drought. So recent developments, notably the greater focus on the rate at which the dam will be filled rather than the legality of its construction, suggest that there is a shift in positions which neither side is yet willing to acknowledge publicly.

This shift will be supported when other future-focused issues are raised. For instance, there must be negotiations about the supply of electricity to support Sudan’s irrigation expansion, although this is on hold due to the war in Sudan. In the longer term, Egypt, Sudan and Ethiopia could cooperate to use the GERD’s storage to help Egypt to manage its Aswan High Dam more efficiently. Aswan currently suffers very high evaporation losses, which could be reduced if its reservoir levels were better controlled. The GERD could help to do this.

Unfortunately, the history of colonial Britain repeatedly threatening to cut Egypt’s Nile water supplies has been deeply imprinted in Egyptian public consciousness. It is understandable that Egyptians still fear a similar threat from Ethiopia. The responsibility now falls on Ethiopia to show good faith in its operation of the dam and to work with Egypt to change the combative discourse.

Potential for cooperation

Egypt’s repeated complaints have alerted Ethiopia and international organisations of the need to act carefully. If there is another regional drought, Ethiopia will need to slow the rate at which it completes filling its dam. Informal liaison structures are monitoring the situation and such a response would help to build a more constructive engagement with Egypt.

Water is a patient teacher. Every season provides an opportunity for those who live with its natural cycles to understand it better. The hope is that, if the three countries experience the benefits of some seasons of the dam’s operation, the natural cycle will reveal the potential for cooperation and mitigate the conflict.

Read more:
Sudan’s catastrophe: farmers could offer quick post-war recovery, if peace is found

When peace returns to Sudan, the Grand Ethiopian Renaissance Dam will enable a vast expansion of irrigation to develop its role as a regional breadbasket. The dam will also help to manage Nile floods which regularly cause death and destruction, even to Sudan’s capital, Khartoum.

Efforts to promote cooperation between the East African countries that share the White Nile have been relatively successful. However, such cooperation on the Blue Nile will need much greater trust between the parties. To achieve this trust, the countries and their people will have to overcome centuries of cultural and political preconceptions. This will require much patient work and interaction, which is not easy in the current climate.

Mike Muller has received funding from the African Development Bank and South Africa’s Water Research Comission for work on regional cooperation in water resource management. He has been a member of the Global Water Partnership’s Technical Committee, chaired the World Economic Forum’s Global Agenda Council on Water and been funded by the World Bank’s Cooperation in International Waters (CIWA) programme for contributions to the Nile Basin Initiative. He was also funded by UNESCO to attend a conference in Khartoum, organised with Sudan’s Ministry of Water Resources Irrigation and Electricity, on integrated and sustainable water management.

– ref. Egypt’s fears about Ethiopia’s mega-dam haven’t come to pass: moving on from historical concerns would benefit the whole region – https://theconversation.com/egypts-fears-about-ethiopias-mega-dam-havent-come-to-pass-moving-on-from-historical-concerns-would-benefit-the-whole-region-239418

MIL OSI – Global Reports –

September 29, 2024
MIL-OSI: Vickery Energy Partners Announces Partnership with Quantum Capital Group

Source: GlobeNewswire (MIL-OSI)

HOUSTON and FORT WORTH, Texas, Sept. 24, 2024 (GLOBE NEWSWIRE) — Quantum Capital Group (“Quantum”) and Vickery Energy Partners, LLC (“Vickery” or the “Company”) today announced the formation of Vickery with equity capital commitments from Quantum and employees of the Company. Based in Fort Worth, Texas, Vickery will pursue the acquisition and development of oil and gas assets across North America, with an initial focus on the Appalachian Basin.

Vickery is led by former executives of Tug Hill, including Sean Willis as President and Chief Executive Officer and Daniel Rowe as Chief Financial Officer. In August of 2023, Quantum sold Tug Hill and XcL Midstream’s portfolio of upstream and midstream assets located in the Appalachian Basin to EQT Corporation for a total consideration of approximately $5.0 billion.

Mr. Willis said, “We look forward to building another outstanding business with Quantum, and we are excited to have a partner that has demonstrated such a steadfast commitment to the responsible production of the energy resources required to power our world. We believe the strength of our Quantum partnership and Vickery’s proven operating capabilities will enable us to pursue opportunities of scale and execute a responsible development program to create significant value for our investors.”

“We are pleased to partner with Sean, Daniel, and the broader Vickery team,” said Tom Field, Partner at Quantum. “We have worked with this management team for many years, and they have proven to be exceptional entrepreneurs, high-quality operators, responsible stewards of assets, and great partners.”

Rob Meister, Managing Director at Quantum, added, “The Vickery team has an impressive track record of value creation across upstream, midstream, and mineral assets. We believe the current environment presents an attractive opportunity to acquire and develop assets in the resource-rich Appalachian Basin.”

About Vickery Energy Partners
Based in Fort Worth, Texas, Vickery is focused on the acquisition and development of oil and gas properties in the Appalachian Basin, with an emphasis on the southwestern tri-state region of the basin. Since 2014 the Vickery team successfully acquired, developed, and operated upstream, midstream, and mineral assets in the Appalachian Basin, during which time it has successfully formed and monetized multiple partnerships. For more information on Vickery, please visit www.VickeryEnergy.com.

About Quantum Capital Group
Founded in 1998, Quantum is a leading provider of private equity, credit, and venture capital to the global energy and energy transition industry, having managed together with its affiliates more than $27 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumcap.com.

Contacts
Kate Thompson / Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

The MIL Network –

September 29, 2024
MIL-OSI Africa: President Ramaphosa urges US business to invest in SA’s growing economy

Source: South Africa News Agency

President Cyril Ramaphosa has called on US businesses to deepen their investment ties with South Africa, highlighting the country’s renewed focus on economic recovery and structural reform.

Speaking at the SA-US Interactive Business Forum in New York on Monday, the President emphasised the progress made under South Africa’s Government of National Unity (GNU) and the vast opportunities available to foreign investors.

He said this is a “timely intervention”, referencing his first visit to the US since South Africa’s general elections in May, which led to a coalition government of political parties committed to inclusive growth and job creation.

“The advent of the Government of National Unity has renewed investor optimism in the South African economy. The message I bring to US investors today is that this optimism is well-placed.

“South Africa is firmly on the road to recovery, and we invite you to be part of this journey. Investments in South Africa are secure. Our business environment is stable. This is supported policy certainty and regulatory safeguards,” the President said.

He added that South Africa intends to stay the course on the structural economic reform process, on scaling up investment in key infrastructure, and on improving the business operating environment.

The President noted South Africa’s success in attracting investment, revealing that the country had achieved its target of raising R1.2 trillion (approximately USD 63.6 billion) ahead of schedule in 2022.

“We have announced a new target of approximately R2 trillion or approximately USD 100 billion over the next five-year period up to 2028.

“The far-reaching structural reforms we have implemented over the past six years have opened up the country to increased levels of investment that continues to grow,” the President said.

Ramaphosa particularly underscored the potential in the clean energy sector, which has attracted significant investment, supporting South Africa’s commitment to decarbonisation and energy security.

“We are equally committed to a Just Energy Transition that is inclusive, that take our developmental needs into account, and that leaves no community behind.

“We have a supportive and enabling industrial policy that incorporates amongst others expanding the special economic zones, driving export-led growth, and harnessing the potential of the Africa Continental Free Trade Area or AfCFTA. In January 2024 we began preferential trading under the AfCFTA,” he said.

The President emphasised that the Government of National Unity is furthermore committed to prudent monetary and fiscal policy and to strengthening regulatory and legislative frameworks to combat corruption.

The President also highlighted the importance of strategic partnerships with US businesses, especially in sectors like advanced manufacturing, energy, healthcare, and infrastructure.

“South Africa and Africa is ripe for investment in financial services, advanced manufacturing, energy, healthcare, infrastructure development, mining, science and technology and other sectors. South Africa is also developing the value chains of the future.

“With substantial reserves of critical energy transition minerals, we are positioning ourselves to be at the forefront of the green energy revolution,” he said.

He added that as the country with the world’s largest platinum group metal reserves, South Africa has a competitive advantage when it comes to the production of sustainable energy technologies, including electric vehicles, new energy vehicles and renewable energy components.

President Ramaphosa praised the collaboration between the New York Stock Exchange (NYSE) and Johannesburg Stock Exchange (JSE), following the 2022 Memorandum of Understanding. He stated that the partnership between the two stock exchanges “promotes cross-border investment and drives economic growth on a global scale.”

The President further highlighted the US as one of South Africa’s most valued trade partners, noting that bilateral trade totalled USD 17.6 billion in 2022.

He also praised the impact of the African Growth and Opportunity Act (AGOA) in fostering trade and creating jobs in sectors like automotive, agriculture, and precious metals.

With Africa’s population expected to reach 2.5 billion by 2050, President Ramaphosa painted a bright picture of the continent’s economic prospects, noting that the African Continental Free Trade Area (AfCFTA) would “drive a wave of industrialisation and create dynamic regional value chains.”

“This too presents opportunities for US businesses and investors, and opens up new markets for their goods, products and services.

“Mutually beneficial trade and investment not only unlocks the dynamism and potential of an entire continent. It will also aid Africa’s efforts to achieve the Sustainable Development Goals,” the President said.

In closing, President Ramaphosa reassured investors of the stability and security of investments in South Africa.

“South Africa is open for business. Sustainable and inclusive growth spurs development and creates jobs.

“Together, we can forge a path to shared success and progress, leveraging our combined strengths to achieve enduring prosperity for our people,” the President said. – SAnews.gov.za

MIL OSI Africa –

September 29, 2024
MIL-OSI Canada: Government of Canada Investments in Electric Vehicles
Source: Government of Canada News

The Honourable Jonathan Wilkinson Minister of Energy and Natural Resources, announced a federal investment of $14.9 million for 20 projects to advance zero-emission vehicle (ZEV) infrastructure, codes and standards, and education across Canada.
Everyone has a role to play in tackling climate change. The widespread shift to electric vehicles (EVs) is critical to decarbonizing on-road transportation, which accounts for 18 percent of Canada’s total greenhouse gas emissions — of which 50 percent is produced by light-duty vehicles (LDV), or passenger cars.

In addition, clean fuels, such as clean hydrogen, advanced biofuels, liquid synthetic fuels and renewable natural gas, will play a critical role in hard to decarbonize sectors such as industry and medium- and heavy-duty freight.

Today, the Honourable Jonathan Wilkinson Minister of Energy and Natural Resources, announced a federal investment of $14.9 million for 20 projects to advance zero-emission vehicle (ZEV) infrastructure, codes and standards, and education across Canada.

Zero Emissions Vehicle Infrastructure Program Projects
- Kang and Gill Construction Limited in Victoria, B.C.: An investment of $340,000 to install 68 EV chargers by March 31, 2024.
- Halifax County Condominium Corporation #240 in Halifax, Nova Scotia: An investment of $110,000 to install 22 EV chargers by April 2023.
- Halifax International Airport in Goffs, Nova Scotia: An investment of $180,000 to install 37 EV chargers by December 2024.
- Park Royal Shopping Centre Holdings Ltd., West Vancouver, North Vancouver and Whistler, B.C.: An investment of $242,000 from NRCan to install 50 EV chargers by November 2023.
- Concert Realty Services Ltd, Vancouver, B.C.: An investment of $190,000 from NRCan to install 38 EV chargers by January 2025.
- Westbank Projects Corp., Toronto, Ontario, and Vancouver, B.C.: An investment of $4,914,660 to install 2635 EV chargers by May 2025.
- THE OWNERS, STRATA PLAN BCS4321, Vancouver, B.C.: An investment of $150,000 to install 30 EV chargers by June 2024.
- Austeville Properties Ltd., Vancouver, B.C.: An investment of $250,000 to install 50 EV chargers by October 2025.
- 1125 Denman Developments Limited Partnership by its general partner Denman Developments Ltd, Vancouver, BC: An investment of $500,000 to install 16 EV chargers by July 2025.
- The Owners Strata Plan LMS1108 “The National,” Vancouver, B.C.: An investment of $260,000 to install 60 EV chargers by May 2024.
- Strata Corporation LMS4255 “Marinaside Resort,” Vancouver, B.C.: An investment of $500,000 to install 140 EV chargers by May 2024.
- 1229488 BC Ltd., Vancouver, B.C.: An investment of $99,999, to install 23 EV chargers by March 2024.
Zero Emissions Vehicle Awareness Initiative
- Plug’N Drive, Toronto, Ontario: An investment of $1,560,633 to raise awareness of electric vehicles across Canada through a comprehensive awareness and experiential campaign, featuring test drives targeting small and medium-sized communities with limited experience or exposure to electric vehicles.
- Create Climate Equity Association in Coquitlam, B.C.: An investment of $100,000 to engage one or more lower-income, underserved, urban communities in the City of Vancouver, B.C., on transportation needs and develop a design for equity-based, zero-emission mobility solutions for the participating communities.
- Steel River Group Ltd in Calgary, Alberta: An investment of $300,000 to empower and equip Indigenous youth with the essential knowledge, skills and confidence to lead sustainable transportation and clean energy initiatives in their communities.
- Northern Alberta Institute of Technology (NAIT) in Edmonton, Alberta: An investment of $247,045 to develop non-credit courses on the maintenance of hydrogen fuel cell buses and heavy-duty vehicles to educate fleet owners, operators and heavy-duty vehicle mechanics and technicians on the use and maintenance of MHDVs and raise public confidence and awareness in zero-emission MHDV.
- HUB Cycling, Vancouver, B.C.: An investment of $241,545 to increase awareness and uptake of e-mobility for transportation across the province of British Columbia.
Minister Wilkinson also announced $3.6 million in funding for CSA Group to update codes and standards related to ZEV infrastructure through the Energy Innovation Program:
- CSA Group, Toronto, Ontario, $3,616,373. The objective of this project is to establish and revise codes and standards, develop guideline documents, manage committees, perform literature reviews for zero-emission transportation infrastructure, covering advanced charging equipment, energy storage, management and various transportation modes.
Housing, Infrastructure and Communities Canada – Investing in Canada Infrastructure Program (ICIP)

Lastly, Minister Wilkinson announced a joint investment of more than $3.1 million through the Green Infrastructure Stream of the Investing in Canada Infrastructure Program for two green infrastructure projects in British Columbia. The projects will enhance access to clean transportation options, use B.C.’s clean electricity supply and reduce greenhouse gas emissions.
- Public Electric Vehicle Charging Expansion – Phase 3 in Vancouver, B.C.
  o The federal government is investing $824,600 through the Green Infrastructure Stream of the Investing in Canada Infrastructure Program. The Government of British Columbia is investing $687,098 through the CleanBC Communities Fund. The City of Vancouver is contributing $549,802.
  o The project will install approximately 15 Level 2 and nine direct-current fast-charge electric vehicle charging ports around parklands in the city, along with electric and mechanical system upgrades.
- Public Electric Vehicle Charging Infrastructure in the District of North Vancouver, B.C.:
  o The federal government is investing $217,447 through the Green Infrastructure Stream of the Investing in Canada Infrastructure Program. The Government of British Columbia is investing $579,821 through the CleanBC Communities Fund. The District of North Vancouver is contributing $289,965.
  o The project will install a public network of approximately 10 Level 2 and two direct-current fast-charge electric vehicle charging ports along key transportation routes, in priority buildings and near multi-family and social housing in the district.
MIL OSI Canada News –
September 29, 2024
MIL-OSI Africa: Critical minerals sector key to driving global economic growth

Source: South Africa News Agency

President Cyril Ramaphosa has emphasised the importance of the critical minerals sector in driving global economic growth and sustainability.

By leveraging key sectors such as mining, energy, and manufacturing, the President said South Africa is set to improve its business environment and attract much-needed investment.

He was addressing the African Minerals Forum hosted by the Business Council for International Understanding (BCIU) and Prosper Africa on the sidelines of the United Nations General Assembly (UNGA 79), in New York, USA, on Monday.

He highlighted that four months ago, South Africa held national general elections, which ushered in a Government of National Unity, where 10 political parties have come together to coalesce around a common agenda for economic growth and sustainable development.

President Ramaphosa underlined South Africa’s commitment to reducing greenhouse gas emissions and mitigating climate change through the country’s Just Energy Transition Plan. This plan aims to guide the shift from coal to renewable energy, while also ensuring equitable economic opportunities for affected communities.

“South Africa’s and Africa’s critical minerals sector has a crucial role to play in this regard, and we recognise the importance of collaboration with other countries to develop the potential of our critical minerals sector.

“The US in particular has established expertise in advanced mining technologies, automation and sustainability practices.

“We want to strengthen our ties with US companies and institutions to foster technological advancements, enhance supply chain efficiencies and attract investment into our mining sector,” the President said.

The President also emphasised that South Africa strongly endorses the United Nations Secretary-General’s position paper on Critical Energy Transition Minerals, where he highlights the importance of beneficiation, benefit sharing, local value addition and economic diversification.

“It would not be an understatement to say that the minerals that lie beneath the soil of Africa are powering the green energy revolution. Thirty percent of the world’s proven critical mineral reserves are found in Sub-Saharan Africa.

“South Africa has substantial reserves of platinum group metals, manganese, vanadium as well as chromium.

“These resources are fundamental to the development of cutting-edge technologies that drive progress in various sectors. What will be critical is to ensure that this progress does not leave Africa behind,” he said.

The President stressed the need to avoid perpetuating colonial-era exploitation, where African countries primarily export raw minerals. He said that by focusing on beneficiation and domestic processing, African nations could see significant economic growth.

President Ramaphosa highlighted that beneficiation and local processing of critical minerals could increase the continent’s GDP by 12% or more by 2050.

He cited estimates suggesting that African countries could generate USD 24 billion annually in GDP and create 2.3 million jobs by investing in mining beneficiation and domestic processing.

President Ramaphosa highlighted the strides made by SASOL, South Africa’s flagship petrochemical company, in leading green hydrogen technologies research and development.

“As the global automotive industry moves towards Electric Vehicles and New Energy Vehicles, we are leveraging our rich experience with automotive production to get some of the world’s leading automotive manufactures with a footprint in South Africa to produce more their green vehicles in our country,” he said.

Despite improvements in the beneficiation of South Africa’s mineral exports, President Ramaphosa admitted that more needs to be done.

He underscored the country’s commitment to creating a supportive policy framework for the critical minerals sector, focused on streamlining regulations, fostering innovation in mining technologies, building workforce skills, improving transport and logistics infrastructure, and incentivising investment.

South Africa’s five-point policy approach aims to create a supportive environment for the critical minerals sector. This includes simplifying regulations, supporting research and development in mining technologies, investing in workforce skills, improving logistics infrastructure, and incentivising domestic and international investment.

“South Africa also has a beneficiation strategy that seeks to translate the benefits of our country’s mineral endowments into a national competitive advantage.

“As the UN Secretary-General’s paper has noted, Critical Energy Transition Minerals can transform economies, create green jobs and foster sustainable local, regional and global development,” he said.

President Ramaphosa further stressed that for the potential of critical minerals to be fully realised, both mineral-producing nations and their end-user countries must embrace inclusivity.

He emphasised the importance of creating decent work opportunities, eradicating exploitative practices such as child and forced labour, and ensuring human rights protections.

Local beneficiation and industrialisation were highlighted as priorities, alongside environmental safeguards to ensure sustainable extraction practices.

The President urged for a long-term focus on inter-generational equity, recognising that critical minerals are vital for solving global challenges like climate change, energy, and food insecurity.

He called on US companies to collaborate in fostering sustainable development.

“By leveraging our respective strengths, pursuing strategic collaborations, and implementing supportive policies, we stand ready to meet the demands of the global market and drive sustainable development.

“I call on US companies and investors to join us on our journey,” he said. – SAnews.gov.za

MIL OSI Africa –

September 29, 2024
MIL-OSI USA: Congresswoman Sylvia Garcia Joins Letter Calling on President Biden to Expedite Review of LNG Projects for Ukraine and Eastern European Allies

Source: United States House of Representatives – Congresswoman Sylvia Garcia (TX-29)

Washington, D.C. – Today, Congresswoman Sylvia R. Garcia (D-TX-29) joined her colleagues in a letter to President Biden requesting that the Department of Energy (DOE) prioritize and expedite the review of projects that will supply liquified natural gas (LNG) to Ukrainian and Eastern European allies as it recommences the processing of applications for authorization to export LNG to countries where the U.S. does not have existing free trade agreements (non-FTA nations). This request was made with a focus on maintaining both U.S. national security and energy security for European allies.

“We must ensure that new exports do not impact energy prices for American consumers and businesses. However, the public interest also requires consideration of the extent to which LNG exports promote geopolitical stability and serve our national security interests. Russia’s increasingly aggressive actions towards Ukrainian infrastructure, including electricity and gas storage facilities, highlight the urgent need to assist Ukraine in recovering and rebuilding and for Ukraine to diversify and secure its energy supply,” said the Members.

The letter was led by Congresswoman Marcy Kaptur (OH-09), Co-Chair and Co-Founder of the Congressional Ukraine Caucus. Other signers include Representatives Lou Correa (CA-46), Jim Costa (CA-21), Don Davis (NC-01), Chris Deluzio (PA-17), Vicente Gonzalez (TX-15), Chrissy Houlahan (PA-06), Mary Peltola (AK-AL), Marie Gluesenkamp Perez (WA-03), Marc Veasey (TX-33), and Susan Wild (PA-07).

A full copy of the letter can be found by clicking here, or reading below:

Dear President Biden:

As members of Congress, we write to request that the Department of Energy (DOE) prioritize and expedite review of projects that will supply liquefied natural gas (LNG) to Ukrainian and Eastern European allies as it recommences the processing of applications for authorization to export LNG to countries where the US does not have existing free trade agreements (non-FTA nations). This request is made with a focus on maintaining both US national security and energy security for our European allies.

DOE performs a critical function when it reviews applications for new LNG exports to non-FTA nations for consistency with the public interest. We must ensure that new exports do not impact energy prices for American consumers and businesses. However, the public interest also requires consideration of the extent to which LNG exports promote geopolitical stability and serve our national security interests. Russia’s increasingly aggressive actions towards Ukrainian infrastructure, including electricity and gas storage facilities, highlight the urgent need to assist Ukraine in recovering and rebuilding and for Ukraine to diversify and secure its energy supply. The Administration’s recent announcement of over $800 Million towards emergency energy needs in Ukraine to help “repair energy infrastructure damaged in the war, expand power generation, encourage private sector investment and protect energy infrastructure” will be vital to helping Ukraine recover and rebuild.

Equally important will be allowing Ukraine the ability to replace its natural gas supply when its contract with Gazprom expires at the end of this year. We believe that reducing Ukraine’s dependence on Russian energy will strengthen Ukraine’s energy security and align with the broader strategic goals of diminishing Russia’s influence in the region and reducing the leverage that hostile actors like Russia have over our allies.

Any delays to providing additional supplies of LNG to Ukraine and our Eastern European allies could jeopardize European energy security and market stability in the long-term. Typical gas offtake contracts are measured in years, not months, and are underpinned by certainty. We should not send mixed signals to our allies who want to eliminate their reliance on Vladimir Putin for good. We believe that the United States must demonstrate its commitment to supporting Ukraine’s sovereignty and resilience amidst ongoing threats by prioritizing and expediting review of projects that will supply LNG to Ukraine and Eastern Europe.

Additionally, American LNG is produced with some of the strongest environmental protections globally.1 Rigorous regulations and oversight ensure that our LNG exports are reliable and adhere to high environmental standards. We believe that these environmental standards, in combination with assistance made available through Inflation Reduction Act programs, such as the GHG Reporting and the Methane Emissions Reduction Programs, will ensure industry and this Administration work to continue reducing emissions from natural gas. By prioritizing and expediting review of LNG projects that will supply LNG to vulnerable nations, we believe DOE would enable our allies to benefit from cleaner LNG sources that have been shown to reduce emissions compared to foreign supplies and coal,2 thus supporting their transition to more sustainable energy systems.

The United States has already shown a strong commitment to supporting Ukraine. Extending and expanding support to the energy sector is a natural and necessary step. We must continue to lead by example, showing that we can balance our environmental commitments with the need to provide reliable energy to our European allies. We believe that, if US LNG producers adhere to increasingly stringent environmental standards, then this balance is maintained, promoting both energy security and environmental stewardship.

In conclusion, we believe that prioritizing and expediting review of LNG projects that will supply Ukraine and Eastern Europe will support geopolitical stability and advance the national security interests of the United States. Thank you in advance for your consideration of this request.

MIL OSI USA News –

September 29, 2024
MIL-OSI USA: U.S. House of Representatives Unanimously Passes Trahan’s Bipartisan Legislation to Advance Rare Disease Treatments for Kids

Source: United States House of Representatives – Congresswoman Lori Trahan (D-MA-03)

WASHINGTON, D.C. – Today, Congresswoman Lori Trahan (D-MA-03), a member of the House Energy and Commerce Committee’s Health Subcommittee, celebrated the unanimous passage of her bipartisan Creating Hope Reauthorization Act of 2024 in the U.S. House of Representatives. The legislation will reauthorize a key program that incentivizes the development of new drugs and treatments for children battling rare pediatric diseases. Trahan introduced the legislation earlier this year alongside Representatives Michael McCaul (R-TX-10), Anna Eshoo (D-CA-16), Gus Bilirakis (R-FL-12), Michael Burgess (R-TX-26), and Nanette Barragán (D-CA-44).

“When a child is battling a rare disease like cancer, currently one of the leading causes of death for kids, they deserve access to the best treatments possible,” said Congresswoman Trahan. “The Creating Hope Reauthorization Act is a critical bipartisan effort to make sure those treatments are available while newer and more effective treatments are being advanced to save children’s lives. The unanimous support for this legislation in the House is a testament to the necessity and effectiveness of this initiative, and I look forward to working with our colleagues in the Senate to send it to the President’s desk to become law.”

Approximately 30 million Americans are affected by rare diseases, two out of every three of whom are children. However, treatments intended for adults are often too harsh for children, limiting their treatment options or even leaving them with life-altering complications after their disease is cured. The Creating Hope Reauthorization Act seeks to solve this problem by reauthorizing the U.S. Food and Drug Administration’s (FDA) cost-neutral priority review voucher (PRV) program, which incentivizes the development of treatments for rare pediatric diseases. Since 2012, the PRV program has spurred the development of therapies for nearly 40 different diseases, 36 of which previously had no safe or effective FDA-approved treatments for children.

The Creating Hope Reauthorization Act was included in the Give Kids a Chance Act, a bipartisan legislative package created to advance pediatric disease treatment. During a markup last week, members of the House Energy and Commerce Committee unanimously passed the Give Kids a Chance Act. In addition to Trahan’s legislation to advance pediatric rare disease treatments, the package also authorizes the FDA to direct companies to research combinations of therapies and cancer drugs in pediatric patients. The FDA is currently only authorized to direct pediatric cancer trials of single drugs, and the majority of these trials are conducted on children with relapsed cancer. However, kids with relapsed cancer are very rarely cured by one-drug treatments because their diagnoses are so advanced.

Since her appointment to the House Energy and Commerce Committee in 2021, Trahan has spearheaded multiple bipartisan initiatives to expand and improve pediatric health care. Last week, she secured passage by the full House of Representatives of her bipartisan Accelerating Kids’ Access to Care Act, legislation that will break down barriers for children with complex medical conditions to make it easier for families to access out-of-state care. In July, she introduced the Bolstering Research and Innovation Now (BRAIN) Act, bipartisan legislation to strengthen research and treatment development for brain tumors, the leading cause of cancer-related death among children and young adults. In May, the House passed her bicameral and bipartisan Youth Poisoning Protection Act, bipartisan and bicameral legislation that would ban the consumer sale of products containing high concentrations of sodium nitrite, a meat-curing chemical that has been popularized in online suicide forums because of its lethality when ingested.

The legislative package containing Trahan’s Creating Hope Reauthorization Act now moves to the Senate where companion legislation has been introduced by Senators Bob Casey (D-PA) and Markwayne Mullin (R-OK).

###

MIL OSI USA News –

September 29, 2024
MIL-OSI Economics: New York State Joins the Global Offshore Wind Alliance

Source: Global Wind Energy Council – GWEC

Headline: New York State Joins the Global Offshore Wind Alliance

24 September 2024, New York, USA | The State of New York announced its membership of the Global Offshore Wind Alliance (GOWA) – joining a network of governments, international organizations, and private sector actors committed to expanding offshore wind capacity globally and driving the transition to a clean energy future.

GOWA is a multi-stakeholder alliance that aims to speed up the global deployment of offshore wind power. The alliance was launched at COP27 by Denmark, the International Renewable Energy Agency (IRENA), and the Global Wind Energy Council (GWEC). Twenty governments have already joined GOWA. The addition of the State of New York further strengthens the global collaboration between regional and national governments and creates a more unified and coordinated approach to offshore wind development across the globe.

Doreen M. Harris, President and CEO, New York State Energy Research and Development Authority (NYSERDA), said: “New York is honored to join the Global Offshore Wind Alliance as we work with other government partners to grow and build-out the offshore wind industry, which is a critical component of the renewable energy infrastructure in New York and worldwide. This collaboration, which spans from sharing lessons and best practices to helping scale up offshore wind projects, will help further advance and sustain this powerhouse industry as we harness its full potential to secure a clean energy future.”

“New York’s decision to join GOWA is a very timely step in uniting global efforts to expand the deployment of offshore wind energy. The commitment of New York not only enhances the alliance but also strengthens the collaboration between regional and national actors, improves energy security and pushes forward toward our shared global climate goals,” said Danish Minister for Climate, Energy and Utilities, Lars Aagaard.

Francesco La Camera, Director-General of IRENA, welcomed New York State joining GOWA: “Through GOWA, we work closely with governments, industry, and investors to accelerate the deployment of offshore wind projects worldwide. Offshore wind offers a pathway to decarbonize our power systems, create jobs, and stimulate economic growth. Our World Energy Transitions Outlook projects that offshore wind capacity must increase sevenfold by 2030 and more than thirtyfold by 2050 to limit global temperature rise to 1.5°C. We need policies that incentivize investment, streamlined permitting processes, and innovative financing solutions.”

As a pioneer in renewable energy, New York has already set ambitious targets under its Climate Leadership and Community Protection Act, including the deployment of at least 9 gigawatts of offshore wind by 2035, a goal of at least 70 percent of New York’s electricity being generated from renewable sources by 2030 and a commitment to 100 percent zero-emission electricity by 2040. By joining GOWA, New York contributes to the global effort to accelerate renewable energy development, including the push for tripling renewable energy capacity by 2030, a key global goal decided at COP28.

The GOWA membership fosters collaboration between regional and national governments, a partnership important for advancing the offshore wind industry. This cooperation enables more efficient offshore wind deployment by combining the innovation and localized expertise of regional governments with the broader policy frameworks and resources provided by national authorities.

“The continuous growth of GOWA’s membership reflects a steadfast commitment to offshore wind as a vital force in achieving net zero, supported by multi-national, national, and sub-national governments. I’m encouraged by the eagerness of key players to join our community, united in addressing the challenges of accelerating offshore wind development. New York’s decision to join GOWA at this critical juncture will bring invaluable expertise from a market that has weathered challenging conditions. I look forward to collaborating with New York and all GOWA members as we chart the global offshore wind pathway toward 2050.” – Amisha Patel, Head of Secretariat (Interim), Global Offshore Wind Alliance (GOWA).

Ben Backwell, CEO of GWEC, said: “The growth of the Global Offshore Wind Alliance demonstrates the vital role offshore wind plays in the energy transition and the importance of collaboration to delivering on the world’s renewable energy ambitions. The addition of the State of New York to the Alliance brings another strong voice and invaluable expertise to the group. The US offshore wind industry is a key part of the energy transition’s acceleration this decade, and we look forward to supporting the State of New York’s efforts in making their offshore wind sector an example for the rest of the world to follow”

He also highlighted GWEC’s research findings:

“GWEC’s research suggests the world could deliver GOWA’s target of 380 GW of offshore wind by 2030, but only with the right frameworks in place. The collaborative work of the Alliance is fundamental to establishing and expanding this framework around the world and ensuring offshore wind delivers on its potential as a key tool of the energy transition.”

GOWA’s goal is to significantly increase the global offshore wind capacity, aiming for a total of at least 380 GW by 2030 and at least 70 GW each year from 2030 onwards. This expansion is essential for reaching global climate neutrality by 2050 and limiting global warming to below 1.5°C, as outlined in the Paris Agreement.

With New York State as its newest member, GOWA now includes 21 member governments, including the European Commission and three subnational governments, and ten other key stakeholders, including the offshore wind sector, inter-governmental organizations, and non-governmental organizations.

MIL OSI Economics –

September 29, 2024
MIL-OSI Economics: Singapore steps up participation in global offshore wind development with new partnership to catalyse project and innovation opportunities

Source: Global Wind Energy Council – GWEC

Headline: Singapore steps up participation in global offshore wind development with new partnership to catalyse project and innovation opportunities

Global Wind Energy Council (GWEC) is a member-based organisation that represents the entire wind energy sector. The members of GWEC represent over 1,500 companies, organisations and institutions in more than 80 countries, including manufacturers, developers, component suppliers, research institutes, national wind and renewables associations, electricity providers, finance and insurance companies.

Find out more

MIL OSI Economics –

September 29, 2024
MIL-OSI Banking: New York State Joins the Global Offshore Wind Alliance

Source: Global Wind Energy Council – GWEC

Headline: New York State Joins the Global Offshore Wind Alliance

24 September 2024, New York, USA | The State of New York announced its membership of the Global Offshore Wind Alliance (GOWA) – joining a network of governments, international organizations, and private sector actors committed to expanding offshore wind capacity globally and driving the transition to a clean energy future.

GOWA is a multi-stakeholder alliance that aims to speed up the global deployment of offshore wind power. The alliance was launched at COP27 by Denmark, the International Renewable Energy Agency (IRENA), and the Global Wind Energy Council (GWEC). Twenty governments have already joined GOWA. The addition of the State of New York further strengthens the global collaboration between regional and national governments and creates a more unified and coordinated approach to offshore wind development across the globe.

Doreen M. Harris, President and CEO, New York State Energy Research and Development Authority (NYSERDA), said: “New York is honored to join the Global Offshore Wind Alliance as we work with other government partners to grow and build-out the offshore wind industry, which is a critical component of the renewable energy infrastructure in New York and worldwide. This collaboration, which spans from sharing lessons and best practices to helping scale up offshore wind projects, will help further advance and sustain this powerhouse industry as we harness its full potential to secure a clean energy future.”

“New York’s decision to join GOWA is a very timely step in uniting global efforts to expand the deployment of offshore wind energy. The commitment of New York not only enhances the alliance but also strengthens the collaboration between regional and national actors, improves energy security and pushes forward toward our shared global climate goals,” said Danish Minister for Climate, Energy and Utilities, Lars Aagaard.

Francesco La Camera, Director-General of IRENA, welcomed New York State joining GOWA: “Through GOWA, we work closely with governments, industry, and investors to accelerate the deployment of offshore wind projects worldwide. Offshore wind offers a pathway to decarbonize our power systems, create jobs, and stimulate economic growth. Our World Energy Transitions Outlook projects that offshore wind capacity must increase sevenfold by 2030 and more than thirtyfold by 2050 to limit global temperature rise to 1.5°C. We need policies that incentivize investment, streamlined permitting processes, and innovative financing solutions.”

As a pioneer in renewable energy, New York has already set ambitious targets under its Climate Leadership and Community Protection Act, including the deployment of at least 9 gigawatts of offshore wind by 2035, a goal of at least 70 percent of New York’s electricity being generated from renewable sources by 2030 and a commitment to 100 percent zero-emission electricity by 2040. By joining GOWA, New York contributes to the global effort to accelerate renewable energy development, including the push for tripling renewable energy capacity by 2030, a key global goal decided at COP28.

The GOWA membership fosters collaboration between regional and national governments, a partnership important for advancing the offshore wind industry. This cooperation enables more efficient offshore wind deployment by combining the innovation and localized expertise of regional governments with the broader policy frameworks and resources provided by national authorities.

“The continuous growth of GOWA’s membership reflects a steadfast commitment to offshore wind as a vital force in achieving net zero, supported by multi-national, national, and sub-national governments. I’m encouraged by the eagerness of key players to join our community, united in addressing the challenges of accelerating offshore wind development. New York’s decision to join GOWA at this critical juncture will bring invaluable expertise from a market that has weathered challenging conditions. I look forward to collaborating with New York and all GOWA members as we chart the global offshore wind pathway toward 2050.” – Amisha Patel, Head of Secretariat (Interim), Global Offshore Wind Alliance (GOWA).

Ben Backwell, CEO of GWEC, said: “The growth of the Global Offshore Wind Alliance demonstrates the vital role offshore wind plays in the energy transition and the importance of collaboration to delivering on the world’s renewable energy ambitions. The addition of the State of New York to the Alliance brings another strong voice and invaluable expertise to the group. The US offshore wind industry is a key part of the energy transition’s acceleration this decade, and we look forward to supporting the State of New York’s efforts in making their offshore wind sector an example for the rest of the world to follow”

He also highlighted GWEC’s research findings:

“GWEC’s research suggests the world could deliver GOWA’s target of 380 GW of offshore wind by 2030, but only with the right frameworks in place. The collaborative work of the Alliance is fundamental to establishing and expanding this framework around the world and ensuring offshore wind delivers on its potential as a key tool of the energy transition.”

GOWA’s goal is to significantly increase the global offshore wind capacity, aiming for a total of at least 380 GW by 2030 and at least 70 GW each year from 2030 onwards. This expansion is essential for reaching global climate neutrality by 2050 and limiting global warming to below 1.5°C, as outlined in the Paris Agreement.

With New York State as its newest member, GOWA now includes 21 member governments, including the European Commission and three subnational governments, and ten other key stakeholders, including the offshore wind sector, inter-governmental organizations, and non-governmental organizations.

MIL OSI Global Banks –

September 29, 2024
MIL-OSI Banking: Singapore steps up participation in global offshore wind development with new partnership to catalyse project and innovation opportunities

Source: Global Wind Energy Council – GWEC

Headline: Singapore steps up participation in global offshore wind development with new partnership to catalyse project and innovation opportunities

Global Wind Energy Council (GWEC) is a member-based organisation that represents the entire wind energy sector. The members of GWEC represent over 1,500 companies, organisations and institutions in more than 80 countries, including manufacturers, developers, component suppliers, research institutes, national wind and renewables associations, electricity providers, finance and insurance companies.

Find out more

MIL OSI Global Banks –

September 29, 2024
MIL-OSI United Nations: Secretary-General’s remarks at the Opening of the General Debate of the Seventy-ninth Session of the General Assembly [as delivered]

Source: United Nations secretary general

Mr. President of the General Assembly,

Excellencies,

Ladies and gentlemen,

Our world is in a whirlwind.

We are in an era of epic transformation – facing challenges unlike any we have ever seen – challenges that demand global solutions.

Yet geo-political divisions keep deepening. The planet keeps heating.

Wars rage with no clue how they will end.

And nuclear posturing and new weapons cast a dark shadow.

We are edging towards the unimaginable – a powder keg that risks engulfing the world.

Meanwhile, 2024 is the year that half of humanity goes to the polls – and all of humanity will be affected.

I stand before you in this whirlwind convinced of two overriding truths.

First, the state of our world is unsustainable.

We can’t go on like this.

And second, the challenges we face are solvable.

But that requires us to make sure the mechanisms of international problem-solving actually solve problems.

The Summit of the Future was a first step, but we have a long way to go.

Getting there requires confronting three major drivers of unsustainability.

A world of impunity – where violations and abuses threaten the very foundation of international law and the UN Charter.

A world of inequality – where injustices and grievances threaten to undermine countries or even push them over the edge.

And a world of uncertainty – where unmanaged global risks threaten our future in unknowable ways.

These worlds of impunity, inequality and uncertainty are connected and colliding.

Excellencies,

The level of impunity in the world is politically indefensible and morally intolerable.

Today, a growing number of governments and others feel entitled to a “get out of jail free” card.

They can trample international law.

They can violate the United Nations Charter.

They can turn a blind eye to international human rights conventions or the decisions of international courts.

They can thumb their nose at international humanitarian law.

They can invade another country, lay waste to whole societies, or utterly disregard the welfare of their own people.

And nothing will happen.

We see this age of impunity everywhere — in the Middle East, in the heart of Europe, in the Horn of Africa, and beyond.

The war in Ukraine is spreading with no signs of letting up.

Civilians are paying the price – in rising death tolls and shattered lives and communities.

It is time for a just peace based on the UN Charter, on international law and on UN resolutions.

Meanwhile, Gaza is a non-stop nightmare that threatens to take the entire region with it.

Look no further than Lebanon.

We should all be alarmed by the escalation.

Lebanon is at the brink.

The people of Lebanon – the people of Israel – and the people of the world — cannot afford Lebanon to become another Gaza.

Let’s be clear.

Nothing can justify the abhorrent acts of terror committed by Hamas on October 7th, or the taking of hostages – both of which I have repeatedly condemned.

And nothing can justify the collective punishment of the Palestinian people.

The speed and scale of the killing and destruction in Gaza are unlike anything in my years as Secretary-General.

More than 200 of our own staff have been killed, many with their families.

And yet the women and men of the United Nations continue to deliver humanitarian aid.

I know you join me in paying a special tribute to UNRWA and to all humanitarians in Gaza.

The international community must mobilize for an immediate ceasefire, the immediate and unconditional release of all hostages, and the beginning of an irreversible process towards a two-State solution.

For those who go on undermining that goal with more settlements, more landgrabs, more incitement — I ask:

What is the alternative?

How could the world accept a one-state future in which a large a large number of Palestinians would be included without any freedom, rights or dignity?

In Sudan, a brutal power struggle has unleashed horrific violence — including widespread rape and sexual assaults.

A humanitarian catastrophe is unfolding as famine spreads. Yet outside powers continue to interfere with no unified approach to finding peace.

In the Sahel, the dramatic and rapid expansion of the terrorist threat requires a joint approach rooted in solidarity – but regional and international cooperation have broken down.

From Myanmar to the Democratic Republic of the Congo to Haiti to Yemen and beyond – we continue to see appalling levels of violence and human suffering in the face of a chronic failure to find solutions.

Meanwhile our peacekeeping missions are too often operating in areas where simply there is no peace to keep.

Instability in many places around the world is a by-product of instability in power relations and geo-political divides.

For all its perils, the Cold War had rules.

There were hot lines, red lines and guard rails.

It can feel as though we don’t have that today.

Nor do we have a unipolar world.

We are moving to a multipolar world, but we are not there yet.

We are in a purgatory of polarity.

And in this purgatory, more and more countries are filling the spaces of geopolitical divides, doing whatever they want with no accountability.

That is why it is more important than ever to reaffirm the Charter, to respect international law, to support and implement decisions of international courts, and to reinforce human rights in the world.

Anywhere and everywhere.

Excellences, Mesdames et Messieurs,

L’augmentation des inégalités est un deuxième facteur de l’insoutenabilité et une tache sur notre conscience collective.

L’inégalité n’est pas une question technique ou bureaucratique.

Au fond, l’inégalité est une question de pouvoir, aux racines historiques.

Les conflits, les bouleversements climatiques et la crise du coût de la vie étendent ces racines historiques plus profondément encore.

Dans le même temps, le monde peine encore à se relever de la flambée des inégalités engendrée par la pandémie.

Si l’on regarde les 75 pays les plus pauvres du monde, un tiers d’entre eux se trouve aujourd’hui dans une situation pire qu’il y a cinq ans.

Au cours de la même période, les cinq hommes les plus riches de la planète ont plus que doublé leurs fortunes.

Et un pour cent des habitants de la planète détient 43 % de l’ensemble des avoirs financiers mondiaux.

Au niveau national, certains gouvernements décuplent les inégalités en accordant des cadeaux fiscaux massifs aux entreprises et aux ultra-riches — au détriment des investissements dans la santé, l’éducation et la protection sociale.

Et personne n’est plus lésé que les femmes et les filles du monde entier.

Excellences,

La discrimination et les abus généralisés fondés sur le genre constituent l’inégalité la plus répandue dans toutes les sociétés.

Chaque jour, il semble que nous soyons confrontés à de nouveaux cas révoltants de féminicides, de violences fondées sur le genre et de viols collectifs – en temps de paix comme en tant qu’arme de guerre.

Dans certains pays, les lois sont utilisées pour menacer la santé et les droits reproductifs.

Et en Afghanistan, les lois sont utilisées pour entériner l’oppression systématique des femmes et des filles.

Et je suis désolé de constater que, malgré des années de beaux discours, l’inégalité de genre se manifesteet je vous demande pardon de le dire, elle se manifeste aujourd’hui encore, pleinement dans cette enceinte.

Moins de 10 pour cent des intervenants au Débat général de cette semaine sont des femmes.

C’est inacceptable, surtout quand on sait que l’égalité entre les femmes et les hommes contribue à la paix, au développement durable, à l’action climatique et bien plus encore.

C’est précisément pour cela nous avons pris des mesures spécifiques pour atteindre la parité hommes-femmes parmi les hauts responsables de l’Organisation des Nations Unies,objectif qui est déjà complété.

C’est faisable.

J’exhorte les institutions politiques et économiques du monde dominées par les hommes à le faire aussi.

Excellences,

Les inégalités mondiales se reflètent et se renforcent jusque dans nos propres organisations internationales.

Le Conseil de sécurité des Nations Unies a été conçu par les vainqueurs de la Seconde Guerre mondiale.

À l’époque, la majeure partie du continent africain était encore sous domination coloniale.

À ce jour, l’Afrique n’a toujours aucun siège permanent au sein de la principale instance de paix du monde.

Un changement s’impose.

Il en va de même pour l’architecture financière mondiale, mise en place il y a 80 ans.

Je félicite les dirigeants de la Banque mondiale et du Fonds monétaire international pour les mesures importantes qu’ils ont entreprises.

Mais comme le souligne le Pacte pour l’avenir, la lutte contre les inégalités exige une accélération de la réforme de l’architecture financière internationale.

Au cours des huit dernières décennies, l’économie mondiale s’est développée et transformée.

Les institutions de Bretton Woods n’ont pas suivi le rythme.

Elles ne sont plus en mesure de fournir un filet de sécurité mondial, ni d’offrir aux pays en développement le niveau de soutien dont ils ont tant besoin.

Dans les pays les plus pauvres du monde, le coût des intérêts de la dette dépasse, en moyenne, le coût des investissements dans l’éducation, la santé et les infrastructures publiques réunis.

Et à l’échelle du monde, plus de 80 % des cibles des Objectifs de développement durable ne sont pas en bonne voie.
Excelencias,

Volver al camino correcto requiere un aumento de financiamiento para la Agenda 2030 y el Acuerdo de París.

Esto implica que los países del G20 lideren un Estímulo para los Objetivos de Desarrollo Sostenible de 500.000 millones de dólares al año.

Implica reformas para aumentar sustancialmente la capacidad de préstamo de los Bancos Multilaterales de Desarrollo – y permitirles ampliar masivamente la financiación asequible a largo plazo para el clima y el desarrollo.

Implica ampliar la financiación de contingencia mediante el reciclaje de los Derechos Especiales de Giro.

E implica promover una reestructuración de la deuda a largo plazo.

Excelencias,

No me hago ilusiones sobre las barreras a la reforma del sistema multilateral.

Los que tienen poder político y económico, o y los que creen tenerlo, son siempre reacios al cambio.

Pero el status quo ya está agotando su poder.

Sin reformas, la fragmentación es inevitable, y las instituciones globales perderán legitimidad, credibilidad y eficacia.

Excellencies,

The third driver of our unsustainable world is uncertainty.

The ground is shifting under our feet.

Anxiety levels are off the charts.

And young people, in particular, are counting on us and seeking solutions.

Uncertainty is compounded by two existential threats – the climate crisis and the rapid advance of technology — in particular, Artificial Intelligence.

Excellencies,

We are in a climate meltdown.

Extreme temperatures, raging fires, droughts, and epic floods are not natural disasters.

They are human disasters — increasingly fueled by fossil fuels.

No country is spared. But the poorest and most vulnerable are hardest hit.

Climate hazards are blowing a hole through the budgets of many African countries, costing up to five per cent of GDP – every year.

And this is just the start.

We are on course to careen past the global limit of a 1.5 degree temperature rise.

But as the problem gets worse, solutions are getting better.

Renewable prices are plummeting, roll-out is accelerating, and lives are being transformed by affordable, accessible clean energy.

Renewables don’t just generate power. They generate jobs, wealth, energy security and a path out of poverty for millions.

But developing countries cannot be plundered in that journey.

Our Panel on Critical Minerals has recommended fair and sustainable ways to meet global demand for these resources, which are essential to the renewables revolution.

Excellencies,

A future without fossil fuels is certain. A fair and fast transition is not.

That is in your hands.

By next year, every country must produce an ambitious new national climate action plan – or Nationally Determined Contributions.

These must bring national energy strategies, sustainable development priorities, and climate ambitions together.

They must align with the 1.5 degree limit, cover the whole economy, and contribute to every one of the COP28 energy transition targets.

An International Energy Agency report released today breaks this down.

By 2035, on average, advanced economies must slash energy emissions 80 per cent, and emerging markets 65 per cent.

The G20 is responsible for 80 per cent of total emissions.

They must lead the charge – keeping with the principle of common but differentiated responsibilities and respective capabilities in the light of different national circumstances.

But this must be a joint effort — pooling resources, scientific capacities and proven and affordable technologies for all to be able to reach those targets.

I’m honoured to be working closely with President Lula of Brazil – who is both G20 Chair and COP30 host – to secure maximum ambition, acceleration and cooperation. We just met for that purpose.

Finance is essential.

COP29 is around the corner.

It must deliver a significant new finance goal.

We also need a Loss and Damage Fund that meets the scale of the challenge – and developed countries meeting their adaptation finance promises.

And we must finally flip the script on a crazy situation:

We continue to reward polluters to wreck our planet.

The fossil fuel industry continues to pocket massive profits and subsidies, while everyday people bear the costs of climate catastrophe – from rising insurance premiums to lost livelihoods.

I call on G20 countries to shift money from fossil fuel subsidies and investments to a just energy transition;

To put an effective price on carbon;

And to implement new and innovative sources of financing – including solidarity levies on fossil fuel extraction – through legally-binding, transparent mechanisms.

All by next year and this taking into account that those who shoulder the blame must foot the bill.

Polluters must pay.

Excellencies,

The rapid rise of new technologies poses another unpredictable existential risk.

Artificial Intelligence will change virtually everything we know — from work, education and communication, to culture and politics.

We know AI is rapidly advancing, but where is it taking us:

To more freedom – or more conflict?

To a more sustainable world – or greater inequality?

To being better informed – or easier to manipulate?

A handful of companies and even individuals have already amassed enormous power over the development of AI – with little accountability or oversight for the moment.

Without a global approach to its management, artificial intelligence could lead to artificial divisions across the board – a Great Fracture with two internets, two markets, two economies – with every country forced to pick a side, and enormous consequences for all.

The United Nations is the universal platform for dialogue and consensus.

It is uniquely placed to promote cooperation on AI – based on the values of the Charter and international law.

The global debate happens here, or it does not happen.

I welcome important first steps.

Two resolutions in the General Assembly, the Global Digital Compact, and the recommendations of the High-Level Body on AI can lay the foundations for inclusive governance of AI.

Let’s move forward together to make AI a force for good.

Excellencies,

Nothing lasts forever.

But a feature of human life is that it appears otherwise.

The current order always feels fixed.

Until it is not.

Across human history, we see empires rising and falling; old certainties crumbling; tectonic shifts in global affairs.

Today our course is unsustainable.

It is in all our interests to manage the epic transformations underway; to choose the future we want and to guide our world towards it.

Many have said that the differences and divisions today are just too great.

That it is impossible for us to come together for the common good.

You proved that is not true.

The Summit of the Future showed that with a spirit of dialogue and compromise, we can join forces to steer our world to a more sustainable path.

It is not the end.

It is a start of a journey, a compass in the whirlwind.

Let’s keep going.

Let’s move our world towards less impunity and more accountability …. less inequality and more justice … less uncertainty and more opportunity.

The people of the world are looking to us – and succeeding generations will look back on us.

Let them find us on the side of the United Nations Charter … on the side of our shared values and principles … and on the right side of history.

I thank you.

MIL OSI United Nations News –

September 29, 2024
MIL-OSI Canada: Statement from Minister of Energy, Mines and Resources Streicker on work to connect the Yukon and British Columbia’s electricity grids
Source: Government of Canada regional news

Minister of Energy, Mines and Resources John Streicker has issued the following statement:

“Our government is committed to ensuring the territory does its part to address climate change by reducing our carbon emissions. For this to happen, we need to substantially increase our supply of clean energy. One of the options we’re considering is connecting our electricity grid to British Columbia’s with a 750-kilometre transmission line.
- Read more about Statement from Minister of Energy, Mines and Resources Streicker on work to connect the Yukon and British Columbia’s electricity grids
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MIL OSI Canada News –
September 29, 2024
MIL-OSI USA: In White Plains, Gillibrand Announces Legislation to Address Epidemic of Traumatic Brain Injuries in Service Members and Veterans
US Senate News:
Source: United States Senator for New York Kirsten Gillibrand

Following a disturbing report showing that service members are sustaining crippling traumatic brain injuries as a result of firing their own weapons, U.S. Senator Kirsten Gillibrand visited the Westchester County Michaelian Office Building in White Plains to announce legislation to address traumatic brain injuries among service members and veterans.

Service members who regularly fire heavy weapons are at increased risk of brain injury as a result of repeated exposure to explosions or blasts from their own weapons and explosives – otherwise known as blast overpressure. These brain injuries can cause depression, anxiety, cognitive problems, hallucinations, panic attacks, violent outbursts, suicidal tendencies, psychiatric disorders, dementia, and a variety of other serious health problems. At least a dozen Navy SEALs who have died by suicide over the past decade were later found to have suffered blast injuries, and many more service members have complained of health issues after blast exposure. Despite this, the Pentagon has struggled to properly investigate the impact of blast overpressure, effectively track the prevalence of blast overpressure-related injuries, or offer appropriate care to service members and veterans. Gillibrand is calling for more research and better treatment for those affected.

Gillibrand was joined by Westchester Deputy County Executive Ken Jenkins, New York State Assemblyman Chris Burdick, City of White Plains Mayor Thomas Roach, Westchester County Board of Legislators Chairman Vedat Gashi, Director of the Westchester County Veterans Service Agency Ronald Tocci, City of Mount Vernon Director of Veteran’s Services Andrea Molina, and local veterans.

“After repeatedly being exposed to blasts from their own weapons during both training and combat, our service members are sustaining severe and crippling brain trauma,” said Senator Gillibrand. “This bill will require the DoD to investigate the prevalence and causes of these brain injuries; to track each service member’s exposure to blasts; and to help service members access care. This is a critical bill and I look forward to getting it passed in the NDAA.”

“With research showing an increased risk of traumatic brain injuries for our service members who regularly fire off heavy weapons, it is imperative we work together at all levels of government to start addressing the health implications they are being exposed to from the blasts of their own weapons. We know that doing so can truly save lives as blast overpressure has already been linked to the development of suicidal inclinations and cognitive issues,” said New York State Senate Majority Leader Andrea Stewart-Cousins. “The Blast Overpressure Safety Act will provide tools to investigate the scope and root causes of TBIs while also tracking service members’ exposure to blasts. The act will also promote access to care. I highly commend Senator Gillibrand for introducing this proactive piece of legislation, and I look forward to continuing to collaborate on initiatives to further protect our active service members and veterans who put their lives on the line to protect us.”

New York State Senator Shelley B. Mayer said, “I am honored to join Senator Gillibrand in showing our steadfast support for our veterans, both abroad and when they return home. Traumatic brain injuries can be life altering and early assessment is critical to ensure that veterans have the resources and support they need to continue living life to the fullest. As a state and nation, we must do better to support our veterans.”

“I am very pleased to see Senator Gillibrand’s support for the Blast Overpressure Safety Act,” said New York State Assemblymember Chris Burdick. “This is a great step in taking care of our active service members and veterans, who have already sacrificed so much for our country. As a society we are making progress in addressing traumatic brain injuries in sports, so it is not only appropriate but crucial that we also make progress concerning those who are putting their lives on the line for our democracy.”

Westchester County Executive George Latimer said, “The brave men and women who serve our country deserve comprehensive care for the injuries they endure in the line of duty – that is the very least that we owe them. Traumatic brain injuries caused by blast overpressure are devastating and all too common, yet we’ve seen a lack of sufficient research and support for those affected. I applaud Senator Gillibrand’s outstanding leadership on this legislation. It is a critical step toward ensuring those we send to the front lines receive the care and understanding they need to heal.”

“Our service members have sacrificed so much for our country, and it is our responsibility to ensure they receive the highest level of care when they return home,” said Westchester Deputy County Executive Ken Jenkins. “The effects of blast overpressure are a silent threat, leading to traumatic brain injuries that can severely impact their quality of life. Senator Gillibrand’s legislation is a vital move towards better understanding, tracking, and treating these injuries.”

Specifically, the Blast Overpressure Safety Act would:
1. Mandate regular neurocognitive assessments over a service member’s career, including a baseline neurocognitive assessment before training.
2. Create blast overpressure exposure and TBI logs for all service members.
3. Increase transparency regarding blast overpressure safety in the weapons acquisition process. DoD must consider the minimization of blast overpressure during the acquisition process, require contracting entities to provide blast overpressure safety data, and publish blast overpressure safety data for weapons systems and its plans to better protect service members from in-use weapons systems.
4. Improve data on concussive and subconcussive brain injuries service members sustain. This includes information on discharges related to and medical providers trained in these injuries, as well as efforts with allies and partners to better address these injuries.
5. Enhance efforts to mitigate exposure and help service members access care. This includes retaliation protections for those who seek care; modifying existing weapons system to reduce blast exposure; updating and making publicly available blast overpressure thresholds and creating a waiver system for exceeding these thresholds; training high-risk service members to help them recognize exposure symptoms and creating strategies to mitigate their risk; and expanding the types of technologies in the Warfighter Brain Health Initiative pilot blast monitoring program.
6. Support service member treatment by establishing a Special Operations Comprehensive Brain Health and Trauma program, making the National Intrepid Center of Excellence (NICoE) a program of record and requiring DoD to provide child care services to those seeking treatment there, and mandating training for medical and training personnel on blast overpressure and exposure and TBI.
MIL OSI USA News –
September 29, 2024
MIL-OSI Canada: Statement of G7+ Ministerial Meeting on Ukraine Energy Sector Support held on margins of 79th Session of UN General Assembly

Source: Government of Canada News

The G7+ Group on Ukraine Energy Sector Support today issued the following statement on the occasion of their fifth Ministerial Meeting on the margins of the 79th United Nations General Assembly

September 23, 2024 – New York City, New York – Global Affairs Canada

The G7+ Group on Ukraine Energy Sector Support today issued the following statement on the occasion of their fifth Ministerial Meeting on the margins of the 79th United Nations General Assembly:

“We, the G7+ Ministerial Group, met on the margins of the 79th Session of the United Nations General Assembly [UNGA] to reaffirm our unwavering support for Ukraine in the face of Russia’s brutal and unjust attacks on Ukraine and its energy infrastructure.

“We reaffirm our strong commitment to the territorial integrity, independence and sovereignty of Ukraine within its internationally recognized borders and to focus on the key priorities needed to achieve a comprehensive, just and lasting peace based on international law, including the UN Charter and its principles.

“We strongly condemn Russia’s continuous missile and drone strikes against Ukraine’s energy infrastructure and cities across Ukraine, which have escalated since March 2024 and severely threaten Ukraine’s energy security and the Ukrainian people’s access to critical services, including electricity, heat and water, during the cold winter months, which could be the harshest for Ukraine since at least its independence. We highlight the regional implications of such attacks, notably on the Republic of Moldova’s energy security. Russia must end its war of aggression and pay for the damage it has caused.

“We recommit to supporting Ukraine’s immediate and medium- and long-term recovery and reconstruction in line with its path toward the EU and to working to involve our private sectors and local governments in the sustainable economic and social recovery of Ukraine. We welcome, and underscore the significance of, Ukraine’s commitment to business-enabling reforms that will establish a level playing field for investment in the energy sector. We stress the importance of the implementation of the National Energy and Climate Plan and the monitoring of this process. We will continue to support efforts of the Ukrainian government and people in these endeavours.

“We stress the importance of the implementation of energy sector reforms in line with the EU accession path and fulfilling obligations under the Energy Community Treaty, including OECD-compliant corporate governance standards. This is especially crucial ahead of the winter, given the scale of repairs and new energy infrastructure needs.

“We acknowledge the need for international assistance to protect energy infrastructure from attacks, including through the strengthening of Ukraine’s air defence capabilities by the committed countries, and reaffirm our readiness to continue providing such assistance.

“We condemn Russia’s seizure and continued control and militarization of Ukraine’s Zaporizhzhia Nuclear Power Plant, which threatens energy security. We emphasize that any use of nuclear energy and nuclear installations must be safe, secured, safeguarded and environmentally sound. With reference to the UNGA resolution of July 11 entitled Safety and Security of Nuclear Facilities of Ukraine, Including the Zaporizhzhia Nuclear Power Plant, we stress that the Zaporizhzhia Nuclear Power Plant must return to the full sovereign control of Ukraine in line with IAEA principles and under its independent supervision.

“We are convinced that rebuilding Ukraine’s energy system in the short- and long-term is in the interest of enhancing global energy security and sustainability.

“We welcome further commitments to providing funding and in-kind support to address the Ukrainian energy sector’s most urgent needs, including repairs of damaged power plants and district heating systems; deployment of new, distributed power generation; emergency backup power for critical services; and passive protection for energy infrastructure. We call on the global community to urgently strengthen efforts in that regard and provide Ukraine with all the assistance needed.

“We underline the important work of international partners, banks and the Energy Community’s Ukraine Energy Support Fund in this regard. We call on international partners to elevate their financial contributions, in particular to this latter fund, to improve Ukraine’s resilience next winter.

“Based on the work of the Working Group on Energy Security and the outcomes of the first Global Peace Summit, held on June 15 and 16, 2024, in Bürgenstock, Switzerland, as well as the results of a productive and constructive dialogue at the Energy Security Conference, held on August 22, 2024, we reaffirm our unwavering commitment to achieving a comprehensive, just and lasting peace for Ukraine.

“Based on the Japan-Ukraine Conference for the Promotion of Economic Growth and Reconstruction, held in Tokyo, Japan, in February 2024; the 2024 Ukraine Recovery Conference [URC], held in Berlin, Germany, in June 2024; and looking ahead to the November 2024 UN Climate Change Conference and the 2025 URC, in Italy, we are committed to continuing to support immediate needs and Ukraine’s vision of a more decentralized, diversified, resilient and renewable and sustainable energy system that is fully integrated with Europe.”

MIL OSI Canada News –

September 29, 2024
MIL-OSI Translation: Statement on the occasion of the G7 Ministerial Meeting on Support for the Energy Sector of Ukraine on the Sidelines of the 79th Session of the United Nations General Assembly

MIL OSI Translation. Canadian French to English –

Source: Government of Canada – in French 1

The G7 Group on Support for Ukraine’s Energy Sector today issued the following statement at its fifth ministerial meeting on the margins of the 79th United Nations General Assembly:

September 23, 2024 – New York, New York – Global Affairs Canada

The G7 Group on Support for Ukraine’s Energy Sector today issued the following statement on the occasion of its fifth ministerial meeting on the margins of the 79th United Nations General Assembly:

“We, the members of the G7 Group of Ministers, have gathered on the margins of the 79th session of the United Nations General Assembly to reaffirm our unwavering support for Ukraine in the face of Russia’s brutal and unjust attacks on Ukraine and its energy infrastructure.

“We reaffirm our strong commitment to the territorial integrity, independence and sovereignty of Ukraine within its internationally recognized borders. We also reiterate our determination to focus on the essential priorities necessary for the establishment of a comprehensive, just and lasting peace based on international law, including the Charter of the United Nations and its principles.

“We strongly condemn the continued Russian missile and drone strikes against Ukraine’s energy infrastructure and cities. These strikes have intensified since March 2024 and pose a serious threat to Ukraine’s energy security and the Ukrainian people’s access to essential services, including electricity, heat, and water, during the cold winter months, which could be the most difficult for Ukraine since at least its independence. We underscore the regional implications of such attacks, including on the energy security of the Republic of Moldova. Russia must end its war of aggression and pay for the damage it has caused.

“We reaffirm our commitment to support Ukraine’s recovery and reconstruction in the immediate, medium and long term, in line with the country’s path towards EU membership, and to work to engage the private sector and our local governments in Ukraine’s sustainable economic and social recovery. We welcome Ukraine’s commitment to implementing business-friendly reforms that will level the playing field for investments in the energy sector, and underline the importance of this initiative. We also highlight the importance of implementing the Integrated National Energy and Climate Plan and monitoring this process. We will continue to support the efforts of the Government and people of Ukraine in these initiatives.

“We stress the importance of implementing energy sector reforms in line with the EU accession path, and of respecting obligations under the Energy Community Treaty, including corporate governance standards in line with those of the Organisation for Economic Co-operation and Development. This is particularly important as winter approaches, given the scale of repairs and new energy infrastructure needs.

“We recognize the need for international assistance to protect energy infrastructure from attack, including through the strengthening of Ukraine’s air defense capabilities by participating countries, and we reaffirm our readiness to continue providing such assistance.

“We condemn the seizure and continued control and militarization of the Zaporizhzhia nuclear power plant of Ukraine, which threatens energy security. We stress that any use of nuclear energy and nuclear facilities must be safe, secure, protected and environmentally friendly. With regard to the UN General Assembly resolution of 11 July entitled Safety and security of Ukraine’s nuclear facilities, including the Zaporizhzhia nuclear power plant, we stress that the Zaporizhzhia nuclear power plant must return to the full sovereign control of Ukraine, in accordance with the principles of the International Atomic Energy Agency and under its independent supervision.

“We are convinced that the reconstruction of the Ukrainian energy system in the short and long term is in the interests of improving global energy security and sustainability.

“We welcome the new commitments to provide financial and non-financial support to address the most urgent needs of Ukraine’s energy sector, including the repair of damaged power plants and district heating facilities, the deployment of new distributed power generation networks, emergency backup power for essential services, and passive protection of energy infrastructure. We call on the international community to urgently step up its efforts in this regard and provide Ukraine with all the assistance it needs.

“We highlight the important work of international partners, banks and the Energy Community’s Energy Support Fund of Ukraine in this regard. We call on international partners to increase their financial contributions, including to this fund, in order to improve Ukraine’s resilience next winter.

“Taking into account the work of the Energy Security Working Group, the outcomes of the first World Peace Summit, held on June 15-16, 2024 in Bürgenstock, Switzerland, as well as the results of a productive and constructive dialogue at the Energy Security Conference, held on August 22, 2024, we reaffirm our unwavering commitment to achieving a comprehensive, just and lasting peace for Ukraine.

“Considering the Japan-Ukraine Conference for Promoting Economic Growth and Reconstruction, held in Tokyo, Japan, in February 2024, the 2024 Conference on the Reconstruction of Ukraine [CRU] held in Berlin, Germany, in June 2024, and looking ahead to the United Nations Climate Change Conference in November 2024 and the 2025 CRU in Italy, we are determined to continue supporting Ukraine’s immediate needs and vision of a more decentralized, diversified, resilient, renewable and sustainable energy system, fully integrated with Europe.”

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

MIL Translation OSI

September 29, 2024
MIL-OSI New Zealand: Greenpeace thugs harass productive Kiwis

Source: ACT Party

“The Greenpeace protestors who have locked themselves in the Wellington offices of Straterra are nothing more than thugs harassing productive Kiwis who just want to build a wealthier country”, says ACT’s Energy and Resources spokesperson Simon Court.

Greenpeace protestors have occupied the Wellington offices of the mining group Straterra. Three protestors have locked themselves inside the building, and two more have climbed onto an awning at the front of the building.

“Not content with holding up renewable energy projects in court, Greenpeace have moved on to harassing the people representing one of our critical industries.

“Greenpeace opposes mining anywhere and everywhere in New Zealand. Their anti-mining position is actually anti-progress and anti-humanity.

“New Zealanders who wonder how they’re going get ahead in life and are considering mining as a career have only one option: move to Australia. New Zealanders need better jobs and higher incomes and that is what mining offers.

“Greenpeace activists should consider doing something constructive with their lives instead of harassing productive New Zealanders who just want to get ahead.”

MIL OSI New Zealand News –

September 29, 2024
MIL-OSI Australia: Lower recent petrol prices welcome after prices moved higher in the June quarter

Source: Australian Competition and Consumer Commission

Average retail petrol prices were higher in the June quarter but have since reduced, according to the ACCC’s latest quarterly petrol monitoring report.

In the June quarter 2024, average retail petrol prices across the five largest cities (Sydney, Melbourne, Brisbane, Adelaide and Perth) were 196.5 cents per litre (cpl). This was an increase of 3.3 cpl from the March quarter 2024 (193.2 cpl).

Click to enlarge

“The lower prices since the end of the quarter have provided some relief to many motorists around the country,” ACCC Commissioner Anna Brakey said.

Average retail petrol prices across the five largest cities decreased in July and August 2024, following lower international refined petrol benchmark prices. On a monthly basis, average retail petrol prices across the five largest cities were 193.6 cpl in June 2024, and decreased by around 10 cpl to 183.7 cpl in August 2024.

The following chart shows 7-day rolling average retail petrol prices across the five largest cities from July 2022 to August 2024.

Seven-day rolling average retail petrol prices across the 5 largest cities in nominal terms

Source: ACCC calculations based on data from FUELtrac and Informed Sources.
Notes: The grey shaded area in the chart represents the June quarter 2024.
The blue shaded area in the chart represents July and August 2024.
A 7-day rolling average price is the average of the current day’s price and prices on the 6 previous day.

Among the five largest cities in the June quarter 2024, average petrol prices increased the most in Sydney (by 5.7 cpl), with average Adelaide prices decreasing by 0.7 cpl, while Brisbane’s average retail petrol prices were the highest of the five largest cities (204.8 cpl).

Quarterly average retail petrol prices increased in Canberra, Hobart and Darwin. Average prices in Darwin were the third lowest among all eight capital cities, behind Adelaide and Perth. Quarterly average prices in Canberra were 205.1 cpl, the highest among the eight capital cities.

The ACCC’s latest report also gives results for the financial year 2023-24. Annual average retail petrol prices across the five largest cities were 195.1 cpl in 2023-24. This was the highest on record in nominal terms and the highest in 10 years in real (inflation adjusted) terms. After adjusting for inflation, annual average prices in 2013-14 were 196.6 cpl.

The ACCC encourages motorists to make the most of fuel price apps and websites

In August 2024, the ACCC released a report on fuel price apps and websites and petrol price cycles in Australia, illustrating the benefits of using one of the many free fuel price apps and websites to shop around for lower fuel prices. There are more than 40 free to use fuel price apps and websites available.

“In the current economic climate, making savings is important to many motorists. It can always be worth using a fuel price app or website to quickly check for a lower priced retailer near you before filling up,” Ms Brakey said.

The following chart shows a range of average petrol prices by major brand in Brisbane during a petrol price cycle in the June quarter 2024. The chart also shows the levels of terminal gate prices (or indicative wholesale prices), represented by the grey shaded area.

“There is often a range of petrol prices available across retail sites and using a fuel price app or website to find a lower priced site can result in large savings,” Ms Brakey said.

From April to early June 2024 in Brisbane, the range of retail petrol prices between the highest and lowest priced brands was around 19 cpl on average. The range varied from as high as 42 cpl (when retail prices were increasing in the cycle) to around 9 cpl (when prices were decreasing).

Daily average retail regular unleaded petrol prices by major brand and daily average terminal gate prices (lagged 7 days) in Brisbane

Source: ACCC calculations based on data from the Queensland Government open data portal – Fuel price reporting 2024.
Notes: The grey shaded area in the chart represents average terminal gate prices in Brisbane (lagged by 7 days).
Retail prices are averaged across sites on a brand basis using data from the Queensland Government fuel price transparency scheme. Major retail brand means a retail brand with at least 7 retail sites under one brand that sold regular unleaded petrol. The ‘Independent’ category represents a collection of other branded and unbranded sites. Daily average retail prices are calculated from price observations at 6 hour intervals.

Observing petrol price cycles in the five largest cities can also be a useful way for motorists to save on petrol. The ACCC web page – Petrol price cycles in major cities – includes up to date price charts, buying tips, and information on petrol price cycles in Sydney, Melbourne, Brisbane, Adelaide and Perth.

“We know that because of longer petrol price cycles, motorists in Sydney, Melbourne and Brisbane can’t always wait for the price cycle to reach the next low point,” Ms Brakey said.

“Where possible though, taking advantage of the low points of the cycle, and topping up or filling up before prices increase, can save money.”

Retail petrol price components

The following chart shows changes in the components of average retail petrol prices in the five largest cities between the March quarter 2024 and the June quarter 2024.

The largest components include the international price of refined petrol (Mogas 95) and excise and wholesale goods and services tax. The Australian/US dollar exchange rate can impact retail prices because international refined petrol is bought and sold in US dollars in global markets – although in the June quarter the exchange rate was relatively stable and had minimal impact on changes in average Mogas 95 prices in Australian dollar terms.

Other components include wholesale costs and margins (including international shipping costs and other import costs, and wholesale costs and margins) and retail costs and margins (represented by gross indicative retail differences).

Changes in the components of average retail petrol prices across the 5 largest cities – cents per litre (cpl)

Source: ACCC calculations based on data from Informed Sources, Argus Media, Ampol, bp, Mobil, Viva Energy, FuelWatch, the Reserve Bank of Australia and the Australian Taxation Office.
Notes: cents per litre change from the previous quarter.
The excise and wholesale goods and services tax component in this chart (65.9 cpl) is different to the excise and goods and services tax (wholesale and retail) component in the bowser, shown in the ‘June quarter 2024 – Petrol snapshot’. This is because a small amount of retail goods and services tax (1.6 cpl) is included in the gross indicative retail differences component in the above chart, for consistency in reporting gross indicative retail difference figures throughout this report.
Total excise and goods and services tax was 67.5 cpl in the June quarter 2024, an increase of 0.6 cpl from the previous quarter.

Gross indicative retail differences increased to slightly above pre-pandemic levels

Average gross indicative retail differences across the five largest cities (in aggregate) were 17.2 cpl in the June quarter 2024. This was 1.8 cpl higher than the previous quarter (15.4 cpl). Gross indicative retail differences are a broad indicator of gross retail margins (including both retail operating costs and profits).

In the 2023-24 financial year, annual average gross indicative retail differences across the five largest cities were 16.3 cpl, slightly higher than pre-pandemic levels on a real terms (inflation-adjusted) basis.

The level of gross indicative retail differences is not uniform across each of the five largest cities. In the June quarter 2024, quarterly gross indicative retail differences were lowest in Adelaide (9.2 cpl) and highest in Brisbane (25.6 cpl). In 2023–24, annual average gross indicative retail differences were lowest in Perth (10.7 cpl) and highest in Brisbane (22.0 cpl).

The ACCC will continue to closely monitor the levels of gross indicative retail differences, including the differences between cities.

Quarterly average regional retail petrol prices were marginally higher than prices across the five largest cities

The ACCC monitors fuel prices in all capital cities and over 190 regional locations across Australia. In the June quarter 2024, average regional retail petrol prices (regional prices) were 197.4 cpl, an increase of 3.7 cpl from the March quarter 2024.

Regional prices were 0.9 cpl higher than average retail petrol prices across the five largest cities (196.5 cpl).

Diesel prices were lower in many capital cities

Quarterly average retail diesel prices across the five largest cities were 194.5 cpl in the June quarter 2024, a decrease of 1.2 cpl from the March quarter 2024 (195.7 cpl).

Quarterly average retail diesel prices decreased in each of the capital cities except Canberra, where prices increased by 0.8 cpl. Retail diesel prices generally followed lower international diesel benchmark prices, which accounted for the largest component of retail diesel prices.

Petrol sales continue to remain below pre-pandemic levels

The volumes of regular unleaded petrol sales reduced by 2.8 per cent in the June quarter (to 2,196 million litres) and continue to remain below pre-pandemic levels.

“As consumers are increasingly switching from combustion engine vehicles to hybrid and electric vehicles, demand for fuel has reduced. Other factors would also be influencing demand such as working from home arrangements, vehicles becoming more fuel efficient, and changes in driving habits quite possibly due to cost of living pressures,” Ms Brakey said.

Note to editors

‘Petrol’ means regular unleaded petrol unless otherwise specified.

Singapore Mogas 95 Unleaded (Mogas 95) is the relevant international benchmark for the wholesale price of petrol in Australia. Singapore Gasoil with 10 parts per million sulphur content (Gasoil 10 ppm) is the international benchmark for the wholesale price of diesel.

Background

The ACCC has been monitoring retail prices in all capital cities and over 190 regional locations across Australia since 2007.

On 14 December 2022, the Treasurer issued a new direction to the ACCC to monitor the prices, costs and profits relating to the supply of petroleum products in the petroleum industry in Australia and produce a report every quarter for a further three years.

MIL OSI News –

September 29, 2024
MIL-OSI New Zealand: Transport – Transporting New Zealand calls for additional measures to support the Low Emissions Heavy Vehicle Fund

Source: Ia Ara Aotearoa Transporting New Zealand

National road freight association Ia Ara Aotearoa Transporting New Zealand has welcomed the launch of the Low Emissions Heavy Vehicle Fund (the LEHVF) but says additional policy changes and investment are required to support freight decarbonisation.

The fund, administered by the Energy Efficiency & Conservation Authority (EECA) can contribute up to 25 per cent of the cost of new zero and low-emissions heavy vehicles.

The LEHVF can also contribute up to 25 per cent of the cost to convert existing higher emitting heavy vehicles to be powered by low-emissions technology – including hydrogen-diesel dual fuel engines. EECA has estimated the LEHVF could prevent 366,622 tonnes of carbon dioxide equivalent emissions, replacing 500 diesel-only vehicles by 2028.

Dom Kalasih says the 27-million-dollar fund will help Transporting New Zealand’s members get zero and low carbon trucks on the road, reducing transport emissions.

“The road freight sector is committed to decarbonisation, including adopting low and zero emission vehicles. However, the high purchase cost and limited range and freight capacity of many available models is a big barrier to uptake. In a low margin industry like ours, practical support from the Government is essential.”

“Battery electric trucks cost between 2-3 times more than internal combustion equivalents, with limited range and loads. Freight customers are understandably price sensitive, particularly in the current economic climate, and this can make low and zero emission freight services a tough sell.”

Transporting New Zealand is also calling for the Government to prioritise three actions to support decarbonisation in the road freight sector:

– introduce accelerated depreciation for low and zero emission vehicles (including higher productivity motor vehicles);

– reform the vehicle dimension and mass rules to allow more battery weight on front axles; and

– strengthen roads surfaces and bridges to allow heavier, more efficient, electric vehicles and high productivity motor vehicles to access more of the roading network.

“Co-funding vehicle purchases is an important piece of the puzzle, but getting our regulatory settings and roading network ready for more efficient vehicles is also essential to increasing uptake and driving down emissions.”

Transporting New Zealand is currently working with several other transport associations and NZ Transport Agency Waka Kotahi to propose practical amendments to the Land Transport Rules that will improve freight efficiency.

About Ia Ara Aotearoa Transporting New Zealand

Ia Ara Aotearoa Transporting New Zealand is the peak national membership association representing the road freight transport industry. Our members operate urban, rural and inter- regional commercial freight transport services throughout the country.

Road is the dominant freight mode in New Zealand, transporting 92.8% of the freight task on a tonnage basis, and 75.1% on a tonne-km basis. The road freight transport industry employs over 34,000 people across more than 4,700 businesses, with an annual turnover of $6 billion.

MIL OSI New Zealand News –

September 29, 2024
MIL-OSI: Haffner Energy teams up with Bambbco, France’s leading bamboo provider, to diversify sustainable biomass procurement
Source: GlobeNewswire (MIL-OSI)

Haffner Energy teams up with Bambbco, France’s leading bamboo provider, to diversify sustainable biomass procurement

Vitry-le-François, September 24, 2024, at 8:00 am (CEST)

Haffner Energy and Bambbco, France’s leading bamboo provider, announce that they have signed a partnership. Both companies are based in France and share a common goal of improving the availability of biomass for energy applications, especially from crops grown on marginal land.

Biomass, the leading source of renewable energy in France and around the world, often faces conflicts of use. Diversifying sustainable sources of biomass that is free of conflicts of use, thanks to regenerative, resilient, and productive crops such as bamboo grown on marginal lands and barren grounds, is a strategic challenge. The contribution of such crops to decarbonization is going to be significant.

Haffner Energy has developed an innovative, patented biomass and organic waste thermolysis technology, backed by 30 years of experience. This technology produces renewable hydrogen and clean fuels for industry and mobility applications. In addition, it generates biocarbon (char or biochar), a natural carbon sink, and biogenic CO₂.   

Bambbco is a nature-based solutions company that uses several species of bamboo to produce renewable energy, sequester carbon, prevent soil erosion, re-establish the water cycle, promote biodiversity, and contribute to the biomass-to-energy circular economy. Bambbco is a laureate of France’s start-up booster program French Tech.

Bamboo produces up to four times as much biomass , as wood residues from a forest in standard conditions. In addition, bamboo displays remarkable characteristics such as being drought tolerant, requiring no chemical inputs, and capturing heavy metals and toxic chemical elements through its roots system. Those properties make it an ideal candidate for soil and ecosystem regeneration on marginal land, while simultaneously generating value.

“Europe is the only continent in the world where bamboo is not recognized yet for its many benefits, from regenerating marginal lands and natural ecosystems to providing a highly sustainable, renewable, and competitive alternative to wood and wood residues for countless applications,” points out Pierre-Alexandre Lemarquis, CEO of Bambbco. “I am excited about the forward-looking approach that Haffner Energy is taking with regard to biomass procurement. Together, we’ll be able to develop local, circular economy-based ecosystems for clean fuels production projects,” he adds.

“We are happy to engage with Bambbco and develop biomass-to-energy projects in locations that would otherwise not be suitable. Barren areas can be brought back to life with robust energy crops and our technology,” says Marcella Franchi, Haffner Energy Chief Marketing Officer and Head of Sales. “We can’t wait to show visitors the new bamboo plantation at our new center in Marolles (Marne County, France). The plants can be used on location, among various feedstocks, to produce renewable syngas and hydrogen, and they will beautify the site.”

The signing of this partnership will enable Haffner Energy and Bambbco to offer a turnkey solution for the production of green energy, with guaranteed feedstock availability and cost all year round. It builds on Haffner Energy’s strategy to diversify sustainable biomass procurement, initiated earlier this year with the signing of a partnership with XanoGrass developer Hexas, in the United States.

The aggregated environmental virtues of those solutions are formidable:
- Securing biomass procurement
- Capturing CO₂ through photosynthesis
- Sequestering CO₂ in biocarbon (char or biochar) and biogenic CO₂ through Haffner Energy’s solutions
- Regenerating marginal lands and creating value thanks to specialty crops
- Avoiding greenhouse gas emissions by eliminating fossil energy and replacing it by the ultimate renewable energy — energy from energy crops grown on marginal land
About Haffner Energy

Haffner Energy, located in France, supplies solutions to produce competitive clean fuels. Backed by 30 years of experience, its innovative and patented biomass thermolysis technology makes possible the production of Sustainable Aviation Fuel (SAF), as well as renewable gas, hydrogen, and methanol. The company also contributes to carbon sequestration through the co-production of biogenic CO₂ and biocarbon (char or biochar). For more information: www.haffner-energy.com

About Bambbco

Bambbco is the company that has been pioneering the sustainable production of bamboo biomass in France. Founded with the mission to promote responsible agricultural practices and provide renewable resources for various industries, including energy, Bambbco has quickly established itself in the emerging biomass sector. For more information: www.bambbco.com

Media relations

HAFFNER ENERGY
Laetitia Mailhes
laetitia.mailhes@haffner-energy.com
+33 (0) 6 13 04 62 01

BAMBBCO
Pierre-Alexandre Lemarquis
contact@bambbco.com
+33 (0)7 64 69 53 94

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The MIL Network –
September 29, 2024
MIL-OSI Asia-Pac: Remarks by CE at media session before ExCo

Source: Hong Kong Government special administrative region

Following are the remarks by the Chief Executive, Mr John Lee, at a media session before the Executive Council meeting today (September 24):

Reporter: My first question is, as the SNSO (Safeguarding National Security Ordinance) has stated that the CE has the power to issue a certificate to certify if a court case concerns national security, yesterday the court has heard that you have issued such a certificate for the HKU Students’ Union Council case. So how many of such certificates have been issued in the past, and what cases were involved? My second question is, a French photojournalist working for the Associated Press was denied entry to Hong Kong earlier this month. What are the reasons behind and will it impact Hong Kong’s image as an international city? Lastly, is there a time frame for Hong Kong to lift the ban on Japanese food imports after Beijing has agreed to lift the ban? Thank you.

Chief Executive: The Chief Executive certificate was issued in accordance with the law. It has been issued more than once, and it is issued whenever it is considered necessary, but all procedures for national security cases will be done in strict accordance with legal procedures and the relevant laws. I want to repeat again: we will deal with national security offences seriously, and we will enforce the law without hesitation, because national security offences are serious. I think we are doing this in the same way as what other jurisdictions are doing in connection with safeguarding national security.

Regarding the issue of discharge of radioactive water from the Fukushima nuclear power plant into the sea, I am aware that the relevant authorities of China and Japan have recently reached a consensus, and the consensus reads like this: the Japanese side will fulfil its obligation to avoid negative impacts on health and the environment and will continue to carry out impact assessments on the marine environment and ecosystems. Japan will establish a long-term international monitoring arrangement under the framework of the IAEA (International Atomic Energy Agency) to ensure China’s participation, independent sampling, monitoring, and inter-laboratory comparisons. The two sides will commence science-based dialogue in the interest of life, health and the ecological environment. After the implementation of the independent sampling and monitoring activities, China will, based on the scientific evidence, consider to adjust the relevant measures. The Hong Kong SAR Government has all along accorded top priority to safeguard health and safety of the Hong Kong people. We emphasise scientific evidence. We have contacted the Commissioner’s Office of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong SAR for more information and have also contacted the Consul-General of Japan for more details to ensure that the Hong Kong SAR Government will have access to sufficient scientific data and evidence to consider any adjustment possibility.

Regarding your question, all entries into Hong Kong must be considered in accordance with the prevailing immigration policies and relevant laws. The Immigration Department is doing the same as all other immigration authorities are doing in other jurisdictions; that is, they will look at the entries’ characteristics and examine the entries in accordance with the policies and the laws. I think individuals will be considered according to their own cases, and we are doing it in no way different from other jurisdictions. Thank you.

(Please also refer to the Chinese portion of the remarks.)

MIL OSI Asia Pacific News –

September 29, 2024
MIL-OSI: Second Well Delineates Heisenberg, Confirms Size of Discovery

Source: GlobeNewswire (MIL-OSI)

Oslo, 24 September 2024 – DNO ASA, the Norwegian oil and gas operator, today announced completion of a second well delineating the play-opening 2023 Heisenberg oil and gas discovery in Norwegian North Sea license PL827SB. Encountering a six-meter oil-filled Eocene sandstone reservoir, the well confirmed the Heisenberg volume estimate of 24 to 56 million barrels of oil equivalent (MMboe) with mean of 37 MMboe.

The license partnership, which in addition to DNO Norge AS (49 percent) includes operator Equinor Energy AS, is studying a tieback of Heisenberg to nearby infrastructure, potentially jointly coordinated with the development of other recent discoveries in this highly prolific area surrounding the Troll and Gjøa production hubs. DNO has a strong area position.

Earlier this year, Cuvette (DNO 20 percent) marked DNO’s eighth discovery in the area since 2021, following Røver Nord, Kveikje, Ofelia, Røver Sør, Heisenberg, Carmen and Kyrre. Discoveries in the Troll-Gjøa area make up the largest share of DNO’s net contingent resources in the North Sea, which stood at 132 million barrels of oil equivalent at yearend 2023.

DNO continues to be one of the most active explorers in the North Sea. Last week, the Company commenced drilling operations at Falstaff (DNO 50 percent and operator) while Ringand (DNO 20 percent) is expected to be drilled later this fall. In early September, DNO submitted one of the largest applications in the Company’s history for the upcoming APA 2024 licensing round, with awards expected during the first quarter of 2025.

The Angel exploration prospect, which was the main target of the license PL827SB well, was found to be mainly water wet although the well encountered non-commercial volumes of gas.

–

For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

–

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

The MIL Network –

September 29, 2024

Category: Energy

IMF Communications Department

MEDIA RELATIONS

1. Introduction

2. Summit for the Future

3. Steadfast Support to Ukraine

4. Situation in the Middle East

5. Fostering partnerships with African Countries

6. Indo-Pacific

7. Regional Issues

Venezuela

Haiti

Libya

Sudan

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Updates to this page

The Grand Ethiopian Renaissance Dam

Potential for cooperation

The ACCC encourages motorists to make the most of fuel price apps and websites

Retail petrol price components

Gross indicative retail differences increased to slightly above pre-pandemic levels

Quarterly average regional retail petrol prices were marginally higher than prices across the five largest cities

Diesel prices were lower in many capital cities

Petrol sales continue to remain below pre-pandemic levels

Note to editors

Background

Source: Ia Ara Aotearoa Transporting New Zealand