NewzIntel.com

Category: Environment

  • MIL-Evening Report: Queensland election signals both major parties accept pumped hydro and the renewable energy transition as inevitable

    Source: The Conversation (Au and NZ) – By Jamie Pittock, Professor, Fenner School of Environment & Society, Australian National University

    Sirbatch/Wikimedia Commons, CC BY-SA

    Solar and wind have won the global energy race. They accounted for 80% of new global power capacity installed in 2023. In Australia, 99% of new capacity is wind or solar.

    The Queensland election campaign suggests both sides of politics have embraced the renewable energy transition. But solar and wind are variable and need energy storage. That is where pumped hydro energy storage and batteries come in.

    Both are off-the-shelf technologies. And both are already being used on a vast scale.

    Having promised 80% renewable energy by 2035, the incumbent Labor government is committed to large pumped hydro systems at Borumba, on the Sunshine Coast, and Pioneer-Burdekin, near Mackay. The A$14.2 billion Borumba project appears to have support from both major parties. However, the Liberal National Party (LNP) says it will scrap the $12 billion Pioneer Burdekin project and the renewables target if elected.

    While Pioneer-Burdekin is a very good site, there are good alternatives. The LNP says it “will investigate opportunities for smaller, more manageable pumped hydro projects”. Regardless, in supporting more pumped hydro storage and rejecting the federal Coalition’s nuclear power plans, the state LNP is accepting the renewable energy transformation as inevitable.

    What is pumped hydro energy storage?

    Pumped hydro systems store surplus electricity from solar and wind on sunny and windy days. The electricity is used to pump water from a lower reservoir to an upper reservoir. This water can later be released downhill though turbines to generate power when it’s needed.


    ARENA, CC BY

    This proven technology has been used for over a century. It accounts for about 90% of global energy storage. Australia has three pumped hydro systems (Tumut 3, Kangaroo Valley, Wivenhoe) and two under construction (Snowy 2.0 and Kidston).

    Snowy 2.0 will last for at least 100 years. Its capacity (350 gigawatt-hours, GWh) is equivalent to 6 million electric vehicle batteries. It’s enough to power 3 million homes for a week.

    Due to start operating in 2028, Snowy 2.0 will cost about $12 billion. That’s roughly equivalent to $2,000 for a 100-year-lifetime EV battery. Pumped hydro energy storage is cheap!

    ANU’s RE100 Group has published global atlases of about 800,000 potential pumped hydro sites. None require new dams on rivers. Some are new sites (greenfield). Others would use existing reservoirs (bluefield) or old mines (brownfield).

    What about batteries?

    Batteries are best for short-term storage (a few hours). Pumped hydro is better for overnight or several days – Snowy 2.0 will provide 150 hours of storage.

    A combination of these storage systems is better than either alone.

    As with any major infrastructure, pumped hydro development has costs and risks. It has high upfront capital costs but very low operating costs.

    What are Queensland’s options?

    In Queensland, solar and wind electricity rose from 2% to 26% of total generation over the past decade. It’s heading for about 75% in 2030 as part of Australia’s 82% renewables target.

    Queensland needs roughly 150 GWh of extra storage for full decarbonisation. After accounting for Borumba (50 GWh), batteries and other storage, Pioneer-Burdekin (120 GWh) would meet that need.

    A similarly sized system or several smaller systems would also suffice. The latter approach has advantages of decentralisation but would cost more and have environmental impacts in more places.

    The state has thousands of potential sites that are “off-river” (do not require new dams on rivers). The table below shows 15 premium sites, most with capacities of 50–150 GWh. Some larger sizes are included for interest – 5,000 GWh would store enough energy for 100 million people.

    The key technical parameters are:

    • head: the altitude difference between the two reservoirs – bigger is better
    • slope: the ratio of the head to the distance between the reservoirs – larger slope means shorter tunnel
    • W/R: the volume of stored water (W) divided by the volume of rock (R) needed for the reservoir walls. Large W/R means low-cost reservoirs.

    Clicking on each name takes you to a view of the site with more details.

    Site Size (GWh) Type Head (m) Slope (%) W/R
    Mackay 50 Green 800 13 8
    Townsville 50 Green 490 8 19
    Pentland 50 Green 340 6 10
    Boyne 50 Green 390 8 14
    Beechmont 50 Blue 427 6 8
    Tully 50 Blue 726 10 9
    Tully 150 Blue 726 11 5
    Townsville 150 Green 440 8 14
    Mackay 150 Green 412 6 17
    Mackay 150 Green 680 9 7
    Yeppoon 150 Green 390 8 17
    Proserpine 500 Green 600 12 7
    Townsville 500 Green 490 18 6
    Ingham 1,500 Green 650 6 8
    Ingham 5,000 Green 650 7 3

    Pumped storage in far north Queensland is valuable because it can absorb solar and wind energy from the Copperstring transmission extension to Mt Isa. It can then send it down the transmission line to Brisbane at off-peak times. This will ensure the line mostly operates close to full capacity.

    Two potential premium 150 GWh bluefield pumped hydro energy storage systems near Tully.
    Author provided/RE100

    What about the rest of Australia?

    Pumped storage and batteries keep the lights on during solar and wind energy droughts that occasionally occur in winter in southern Australia. They also meet evening peak demand.

    The fossil fuel lobby argues gas is needed in the energy transition. But pumped hydro and battery storage eliminate the need for gas generators and their greenhouse gas emissions.

    In the past decade, solar and wind generation in Australia’s National Electricity Market increased from 6% to 35%. Gas fell from 12% to 5%.

    Most pumped hydro projects can be built off rivers. The same water is repeatedly transferred between the reservoirs. This means the system keeps running during droughts and avoids the impacts of new dams blocking rivers and flooding valleys.

    The environmental and social impacts of off-river pumped hydro projects are much lower than for conventional hydropower or fossil fuel projects.

    The system uses very common materials, primarily water, rock, concrete and steel. Very little land is flooded for off-river pumped hydro to support a 100% renewable energy system: about 3 square metres per person. Only about 3 litres of water per person per day is needed for the initial fill and to replace evaporation.

    Sometimes, safely disposing of tunnel spoil is a challenge – as with mining (including for coal and battery metals). Any major new generation facility and its transmission lines may involve clearing and disturbing bushland. Local communities sometimes oppose pumped hydro developments.

    In Australia, ANU identified 5,500 potential sites. Only one to two dozen are needed to enable the nation to be fully powered by renewables.

    About a dozen pumped hydro projects are in detailed planning. Hydro Tasmania’s Battery of the Nation is proposed for Cethana. Other prominent projects include Oven Mountain, Central West, Upper Hunter Hydro and Burragorang in New South Wales.

    You can expect to see more pumped hydro systems in a state near you.

    Jamie Pittock receives funding from the Australian Department of Foreign Affairs and Trade to provide technical assistance for the development of pumped storage hydropower to aid the transition to renewable energy for governments and others in Asia. He holds governance and advisory roles with a number of non-government environmental organisations.

    Andrew Blakers receives funding from the Department of Foreign Affairs and Trade

    – ref. Queensland election signals both major parties accept pumped hydro and the renewable energy transition as inevitable – https://theconversation.com/queensland-election-signals-both-major-parties-accept-pumped-hydro-and-the-renewable-energy-transition-as-inevitable-229611

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: New UN climate report highlights climate extremism of Luxon Government – Greenpeace

    Source: Greenpeace

    The latest UNEP Emissions Gap Report has warned that if countries do not commit to rapid action to cut rising climate pollution emissions, the Paris Agreement’s goal of limiting global warming to 1.5°C will be gone within a few years, but Greenpeace says despite the Luxon Government’s failure so far, there is hope.
    Greenpeace Aotearoa executive director Dr Russel Norman says, “Here we have yet another stark warning that if we are to leave our children a habitable planet, emissions have to come down rapidly and a reminder that in this global crisis, every country must play its part.
    “Yet here in New Zealand, we have a government of climate extremists hell-bent on doing the exact opposite. Just yesterday, we saw offshore wind energy companies pull out of New Zealand because this government is fast-tracking a seabed mining project that would block offshore wind turbines.
    “Christopher Luxon has stated that he wants to restart oil and gas exploration, mine for coal, and build a new fossil gas import terminal. As today’s UN report confirms, these actions are entirely at odds with a liveable climate – they are the actions of a climate extremist.
    “Luxon’s awkward presence at the Commonwealth Heads of Government Meeting in Samoa today is not only tainted by the sinking of the Manawanaui, it is tainted by his climate extremism, which is not popular in the Pacific.
    “Even his own government ministry said New Zealand doesn’t need any new fossil gas,” says Dr Norman.
    The Ministry of Business, Innovation and Employment (MBIE) recently released its updated report on Electricity Demand and Generation Scenarios looking out to 2050, which confirmed that there is no need for new fossil fuels to ‘keep the lights on’ in Aotearoa. Wind and solar are the cheapest sources of new electricity generation and sufficient for the transition.
    “For 15 years, the UNEP has been sounding the alarm on the great chasm between political will for climate action and the worsening emissions trajectory fuelling rising temperatures. These reports form a shameful litany of failure by successive governments to tackle the climate crisis with the urgency it demands,” says Dr Norman.
    “New Zealand’s biggest polluter is the dairy industry’s super-heating methane emissions, and yet no Government has been able to find the backbone to stand up to Fonterra and regulate against the drivers of their emissions: synthetic nitrogen fertiliser, imported palm kernel and too many cows.”
    The Emissions Gap Report 2024 found that it remains technically possible to get on a 1.5°C pathway, with solar, wind and forests “holding real promise for sweeping and fast emissions cuts”, alongside energy demand reductions. However, a failure to increase ambition in countries’ 2035 climate action plans, known as Nationally Determined Contributions (NDCs), would put the world at risk for a temperature increase of 2.6-3.1°C by the end of this century.
    The UNEP also called on countries to explain how their 2035 NDCs contribute to tripling renewable capacity deployment and doubling annual energy efficiency rates by 2030, agreed at COP28 last year, and to transitioning away from fossil fuels.

    MIL OSI New Zealand News –

  • MIL-OSI USA: Wyden, Merkley: Conservation Projects in Central, Eastern & Southern Oregon Earn $95.7 Million in Federal Investment

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)

    October 24, 2024

    Washington, D.C. – U.S. Sens. Ron Wyden and Jeff Merkley today announced that five rural Oregon conservation projects have secured a total of more than $95 million in federal investment to help farmers, ranchers, and forest landowners adopt and expand strategies that enhance natural resources while tackling the climate crisis. .

    “These significant federal investments add up to huge benefits for Oregonians working to achieve a more sustainable future in rural counties by reducing the risk of wildfire, conserving water and strengthening ranching and farming,” Wyden said. “I’m gratified these federal resources are heading to Central, Eastern and Southern Oregon – and I’ll keep battling for similar federal funds that produce real results like these five standout projects.”

    “We must continue to find creative ways to conserve and protect Oregon’s diverse lands, wildlife, and natural resources which are critical to our ecosystems and economy,” said Merkley, who serves on the Senate Appropriations Subcommittee that oversees funding for the USDA. “These huge, multi-million-dollar investments from the Regional Conservation Partnership Program will help fight climate chaos and make our rural communities stronger now and into the future.”

    The $95.7 million for the five Oregon projects from the U.S. Agriculture Department’s Regional Conservation Partnership Program will be distributed as follows:

    • Pilot Butte Canal King Way Irrigation Modernization and Conservation, $25 million for the Deschutes River Conservancy: This project employs district canal piping, private lateral piping, on-farm efficiencies, and water marketing to save water in the Central Oregon Irrigation District. That water will be redirected to the North Unit Irrigation District in exchange for using stored water from Wickiup Reservoir to manage flows in the Upper Deschutes. Water savings generated will contribute directly to basin-wide goals of increasing flows in the Upper Deschutes to benefit listed species.
    • Greater Waterman Landscape Resiliency Project, $21.2 million for the Wheeler Soil and Water Conservation District: This 338,596-acre project will conserve, restore, and enhance more than 23,000 acres of critical range and forest lands for 92 producers in the Middle John Day Basin. The project area has experienced significant landscape degradation, specifically due to fire suppression and unsustainable grazing practices. Forest stand density has increased, leading to unhealthy stands more susceptible to wildfire, insects, and disease. This project will reverse these trends, and help landowners work toward a more resilient landscape that stores long-term carbon and is more resilient to climate change impacts; allowing producers to maintain the landscape as critical working lands for agriculture, forestry, and livestock grazing.
    • Rogue Bear All-Lands Restoration Project, $21.2 million for the Lomakatsi Restoration Project: This project aims to strategically reduce hazardous fuels and improve forest health on 8,500 to 10,000 acres of private non-industrial forestland across very high wildlife risk zone in the Rogue Basin of southwest Oregon. Additional project goals include improved forestland resilience and air quality, enhanced wildlife habitat and increased carbon sequestration.
    • Expanding Resilient Working Lands in Harney County, $18.4 million to the High Desert Partnership: This project will expand existing conservation efforts, implementing climate smart and other adaptive practices on a landscape scale to help producers and wildlife build resilience to increasingly frequent and severe drought. Partners will target practices in wetlands to enhance habitat and production in flood-irrigated grass hay meadows with benefits to wildlife and livestock. Partners will scale up practices that promote healthy sagebrush and forests to reduce impacts of catastrophic wildfires to benefit the community and wildlife, increasing their resiliency to a changing climate.
    • Project Ignite-Restore, $9.9 million for the Oregon Department of Forestry: This project will work to reduce fuel load hazards and improve forest health on 4,600 acres in underserved communities within Southern Oregon that connect with previous treatments.

    “This award enables partners in the Deschutes Basin to implement major canal piping projects that permanently restore streamflows (3,900 acre-feet; 12 cubic feet per second) to the Deschutes River while helping relieve water scarcity for farmers,” said Deschutes River Conservancy Executive Director Kate Fitzpatrick. “It also enables complementary on-farm efficiency upgrades to increase water savings. We are grateful for Senators Wyden and Merkley for continuing to fund critical programs like the Regional Conservation Partnership Program, supporting collaborative water solutions in the Deschutes Basin that result in real and significant outcomes for rivers and farmers.”

    “The award of our Greater Waterman RCPP project brings a renewed excitement following the devastation of the 2024 wildfire season in Wheeler County” said Cassi Newton, District Manager for the Wheeler Soil & Water Conservation District. “This project truly started at the local level with landowners eager to restore and protect the landscape. The project fosters future conditions that reduce catastrophic wildfire risk, return critical water to the basin, generate natural climate solutions that secure carbon, and meet the current and future economic and social needs of the basin. Wheeler SWCD is sincerely thankful for the support from Senators Wyden and Merkley in our efforts of restoring and protecting natural resources in the John Day Basin.”

    “Lomakatsi is excited to continue our long-standing partnership with the Natural Resources Conservation Service, the US Fish & Wildlife Service, and other agency, municipal, and nonprofit partners—including through Rogue Forest Partners—to increase community and ecosystem resilience across the Rogue Valley of southwest Oregon. This investment through the Farm Bill and Inflation Reduction Act will expand on two decades of collaboration reducing wildfire risk and building climate adapted landscapes within and adjacent to communities at some of the highest wildlife risk in the entire state, while supporting local jobs,” said Lomakatsi Executive Director Marko Bey. “Lomakatsi is honored to serve as the lead on behalf of a robust partnership, as we scale our operations through this Alternative Funding Arrangement to strategically treat hazardous fuels on up to 10,000 acres of private land west of Medford and north of Jacksonville over the next five years, complementing resiliency work on adjacent federal and municipal lands in an all-lands approach.”

    MIL OSI USA News –

  • MIL-OSI USA: Manchin Announces $49.7 Million to Upgrade West Virginia’s Water Infrastructure

    US Senate News:

    Source: United States Senator for West Virginia Joe Manchin

    October 24, 2024

    Charleston, WV – Today, U.S. Senator Joe Manchin (I-WV), member of the Senate Appropriations Committee, announced $49,700,000 from the Environmental Protection Agency (EPA) to upgrade water and wastewater infrastructure across West Virginia. The funding will promote the safe management of wastewater, protect local freshwater resources and deliver clean drinking water to homes, schools and businesses.

    “The Bipartisan Infrastructure Law continues to deliver historic investments for West Virginia,” said Senator Manchin. “I’m pleased the EPA is awarding more than $49 million to upgrade water infrastructure across our state, which will promote public health and strengthen economic development. I look forward to seeing the positive impacts of this funding and, as a member of the Senate Appropriations Committee, I will continue working with the EPA to ensure every West Virginian across the Mountain State has access to clean, reliable water.”

    MIL OSI USA News –

  • MIL-OSI New Zealand: Zero Waste Champions lead the way at the 2024 Tāmaki Makaurau Awards

    Source: Auckland Council

    Wonky cherries transformed into cola, discarded fishing nets repurposed into kitchen panels, a waste waka cleaning the streets, and community composting efforts were all celebrated at the 2024 Tāmaki Makaurau Zero Waste Awards.

    The awards night, held on Thursday 24 October, honoured outstanding contributions to zero waste initiatives from people right across Auckland. Among the guests were the 170 individuals, groups, schools, marae, businesses, and social enterprises that were nominated for their dedication to reducing waste and championing sustainability across the region.

    “We celebrate the work and success of Zero Waste Award winners and nominees in reducing waste and supporting a circular economy. We had a record number of nominations this year which is testament to the ingenuity and aspirations of every Aucklander working in this space. Auckland Council congratulates the winners and thanks everyone who is striving for a Zero-Waste future,” says Parul Sood, Deputy Director Resilience and Infrastructure at Auckland Council.

    Judges Charmaine Bailie (Uru Whakaaro), Ngarimu Blair (Ngāti Whātua Ōrākei), Parul Sood (Auckland Council) and Carla Gee (EcoMatters) selected winners as well as highly commending several other entries in each of the six categories.

    Rangatahi Leadership Award – Rangatahi, rangawhenua, rangatangata

    The winner is Pacific Vision Aotearoa’s Food Hub Gang. The self-named trio of young volunteers – Nazihah Buksh, Ayla Brockes, and Alena Lui – collects food scraps from New World supermarket to create compost at the Papatoetoe Food Hub. Despite their busy schedules, they contribute weekly with dedication, diverting 1.5 tonnes of waste from landfills. Each member has a unique role, with their efforts supporting community gardens and highlighting the importance of reducing waste.

    Growing the Movement Award – Whakakanohi i te kaupapa para kore

    The winner is Brigitte Sistig, co-founder of Repair Cafe Aotearoa NZ and a key figure since 2013. She launched the Repair Café in 2016 with Auckland Council funding, delivering 18 events with 12 community partners across Tāmaki Makaurau. Now largely volunteering, she helps manage 22 regular Repair Cafes in Auckland, at both permanent and pop-up locations, with the first Repair Festival having taken place in September 2024. Brigitte also leads the Right to Repair Aotearoa Coalition, advocating for the Consumer Guarantees (Right to Repair) Amendment Bill Campaign.

    Community Collaboration Award – Hā ora, Hāpori

    The winner is Junk2Go, a rubbish collection business in Avondale that focuses on diverting usable items to people in need instead of sending them to landfill. Collected items like furniture, clothing, appliances, and e-waste are sorted and donated through the “Junk2Go turning Junk2Good” initiative. Nothing is sold. Their depot opens weekly to charity partners, allowing them and the families they support to freely take what they need, helping to turn houses into homes.

    Cultural Connection Award – Whīria te ahurea, whīria te kaitīakitanga

    The winner is PlanetFM, a not-for-profit community radio station, that amplifies the voices of Tāmaki Makaurau’s minority and special interest groups. It has supported the zero waste campaign by broadcasting programmes and ads in multiple languages, including Arabic, Nepali, and Tamil, to reach ethnically diverse communities. Volunteers were trained to promote zero waste and used their networks to extend the campaign’s impact, delivering messages in culturally relevant ways through trusted community leaders.

    Innovation Award – Anga whakamua

    The winner is Clevaco. Clevaco created New Zealand’s first circular building foundation with its CLEVA POD® system, made from 100% recycled plastic. This system replaces polystyrene pods and can be fully recovered during demolition, avoiding landfill waste. CLEVA POD® offers the building industry an easy, sustainable alternative. Clevaco partners with companies committed to environmental practices, helping them adopt circular construction and sustainable building methods.

    Community Engagement – Food Scraps Service Rollout – Rukenga kai

    The joint winners are A Fool’s Company and the EcoMatters Food Scraps team.

    A Fool’s Company helped roll out the food scraps service with an interactive theatre show for primary schools in Tāmaki Makaurau. “Freddie’s Food Scraps Quest: A Rukenga Kai Story” is a 45-minute performance combining storytelling, comedy, music, and audience participation. Teaching children the importance of rukenga kai, 75 shows have reached over 11,000 children and 500 adults since August 2023. The success has led to renewed funding, allowing free performances across the region and expansion into recycling education.

    The EcoMatters Food Scraps team received six individual nominations. They spent 10 months educating Tāmaki Makaurau residents on using the rukenga kai service. A team of 25 canvassers held over 35,000 conversations across 98 areas, putting in 3000 hours. They engaged the public at community events, door-knocking, and even beside sports fields.

    This year’s awards were organised by EcoMatters Environment Trust, in partnership with Auckland Council, as part of its aspirational goal for Tāmaki Makaurau to be zero waste by 2040.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Development – Consent granted for Karori retirement village under COVID-19 fast-track Act – EPA

    Source: Environmental Protection Authority

    An independent panel has granted resource consent, subject to conditions, to construct a Metlifecare retirement village in Karori, Wellington.
    Metlifecare Retirement Villages Limited applied for resource consent under the COVID-19 Recovery (Fast-track Consenting) Act 2020.
    The project includes demolishing an existing retirement village and constructing multi-storey buildings at 29 Messines Road, Karori.
    The resource consent conditions are in the decision report on the page linked below.
    The decision comes 190 working days after the application was lodged with the Environmental Protection Authority.
    The Environmental Protection Authority is not involved in the decision-making. We provide procedural advice and administrative support to the panel convenor, Judge Laurie Newhook, and the expert consenting panel he appoints.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Tuatapere Hump Ridge Track becomes New Zealand’s 11th Great Walk

    Source: Department of Conservation

    Date:  25 October 2024 Source:  Office of the Minister of Conservation

    “The 60km upgraded track provides the opportunity to do one of New Zealand’s world-class multi-day walks, and will bring conservation, recreation, and economic benefits to the region,” Mr Potaka says. 

    “Located in Te Wāhipounamu, in the south-west corner of the South Island, the trail weaves through diverse landscapes, including, beaches and seascapes, native forest, and an alpine section. It also provides opportunities to spot Hector dolphins and see the southern lights – the Aurora Australis.” 

    Mr Potaka says that the Hump Ridge Track is steeped in cultural and historical significance, and that its Great Walk status will make it more of a drawcard for both New Zealanders and international visitors. 

    “The area has rich stories, and new installations on the trail will tell them. This includes the stories of tangata whenua and the forestry heritage, as well as the viaducts and Port Craig. 

    “A new Waharoa, a gateway, now stands at the entrance to the new track entrance, welcoming visitors. 

    “This will be an exciting moment for everyone who has invested time and energy into this project, along with those who will benefit from the increase it brings to local businesses and the economy.” 

    The upgrades are expected to bring a 10 percent growth in numbers in the next years and return Great Walk visitor numbers nearer to pre-pandemic levels. As well as bringing employment opportunities and revenue to local communities, accommodation providers can also expect an increase in bed nights. 

    The track has received $7.9 million in funding for multiple improvements, including future-proofing sections of the track against climate change and natural hazards, and developing alternative routes 

    Inclines have been eased and new boardwalks have also been installed, as well as new swing bridge. 

    “I am very pleased to know that the track will now offer visitors a view into the area, telling the stories of tangata whenua and the area’s biodiversity,” Mr Potaka says. 

    Contact

    For media enquiries contact:

    Email: media@doc.govt.nz

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Temporary restriction on bike rack usage at night to be put in place on buses

    Source: Environment Canterbury Regional Council

    NZTA has determined that the way some bus models are fitted with bike racks can partially obscure headlights, particularly at night. It has sent an alert to all public transport authorities across the country, asking for operators to check their buses to see which are affected and to resolve any issues accordingly.  

    As an initial response, bike racks on the front of Metro buses will only be able to be used during daylight hours while adequate testing and changes can be made to ensure compliance. The exact timings of restrictions will vary from month to month to maximise the time available to customers that take their bikes on the bus. For November, The restriction will be in place from 8.45pm to 5.45am. 

    Restriction times for the months up to and including in March 2025 can be viewed on the Metro website. Customers that use bike-racks should check this information each month for updates.

    “This directive from NZTA is all about public safety. While we have not encountered any issues with the visibility of our headlights before, we want to ensure we are doing everything we can to keep our customers, drivers and the public safe,” Public Transport operations manager Derek Walsh says. 

    “We ask that our customers travelling with bikes respect this new rule and ensure they board and disembark with their bikes during daylight hours. Staff will work with NZTA and operators to determine the best way to undertake assessments before being able to review the fleet and consider mitigation and funding options. The timeframe for this is not yet known. 

    “We will continue to communicate with our customers affected by this and will let them know when we have a better idea of how long these restrictions could be in place for,” he says. 

    “We thank our customers for their understanding as we work to get this sorted. Our drivers will be tasked with reminding customers of this new rule, please remember they are just doing their jobs and trying their best to keep everyone safe.” 

    Read the industry alert issued by NZTA about bike-racks.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Staff and volunteers celebrated at the NSW Health Awards

    Source: New South Wales Government 2

    Headline: Staff and volunteers celebrated at the NSW Health Awards

    Published: 25 October 2024

    Released by: Minister for Health, Minister for Medical Research, Minister for Mental Health

    Staff and volunteers across the NSW health system have been celebrated for their dedication, compassion, innovation and outstanding achievements at the 2024 NSW Health Awards, held at the International Convention Centre in Sydney last night.

    The awards recognise the people, teams and programs in NSW Health that make such a significant contribution to the health and wellbeing of patients of the communities they care for. It is – most of all – a celebration of the team enriching health in millions of ways every day.

    Some of the innovative projects to win awards across the 13 categories included the use of artificial-intelligence to develop a wound app reducing average healing times, research to develop oral insulin as an alternative for injectible insulin expanding treatment options for diabetics and establishing a video interpreting service for multicultural communities.

    Awards were presented by Minister for Health Ryan Park, Minister for Medical Research David Harris, Parliamentary Secretary for Health and Regional Health Dr Michael Holland, and NSW Health Secretary Susan Pearce AM.

    186 nominations were received across 13 categories, including:

    • Staff Member of the Year Award
    • Volunteer of the Year Award
    • Secretary’s Award
    • Environmental Sustainability Award
    • Excellence in Aboriginal Healthcare Award
    • Excellence in Multicultural Healthcare Award
    • Excellence in the Provision of Mental Health Services Award
    • Health Innovation Award
    • Health Research Award
    • Keeping People Healthy Award
    • Patient Safety First Award
    • People and Culture Award
    • Transforming Patient Experience Award

    The full list of winners and finalists and their projects is available on the ​​NSW Health website.​​

    Quotes attributable to Minister for Health Ryan Park:

    “I want to congratulate the winners and all 42 finalists for their outstanding contributions to our health system. Every day in NSW Health we see fantastic examples of care, dedication and innovation when it comes to improving the health and wellbeing of people across NSW.

    “It’s fantastic to see that five of the NSW Health Award winners are from rural and regional areas, highlighting the great care available to communities right across the state.

    “I would particularly like to highlight the great work of Dr Nhi Nguyen from Nepean Blue Mountains Local Health District, who was named Staff Member of the Year for her leadership across initiatives aimed at bridging the gap between clinicians, policy makers and the community.”

    Quotes attributable to Minister for Mental Health Rose Jackson:

    “I offer my congratulations to the South Western Sydney Local Health District who took out the Excellence in the Provision of Mental Health Services award for their Aboriginal Mental Health Transfer of Care project.

    “This work has had a positive impact on hundreds of people and their communities, with a team of specialists set up to provide culturally responsive care and better discharge planning for Aboriginal and Torres Strait Islander patients, nearly halving unplanned re-admissions.

    “Across every nomination in this category we see shining examples of a commitment to patient care and safety so I personally want to thank all the finalists for their dedication to providing compassionate mental health services right across the state.”

    Quotes attributable to Minister for Medical Research David Harris:

    “Sydney Local Health District were a deserving winner of the Health Research category, for their ground-breaking work to expand treatment options for people with diabetes. The team has created an oral insulin treatment that is preparing for clinical trials early next year.

    “It was a pleasure to celebrate the people helping position NSW as a global leader in health and medical research, and the work in Sydney Local Health District reflects many of the amazing initiatives underway in our state.”

    Quotes attributable to NSW Health Secretary Susan Pearce AM:

    “NSW Health is very proud to celebrate the people and teams who are enriching health in millions of ways every day – our incredible healthcare staff and volunteers.

    “All of the nominees, finalists and winners reflect the incredible work our people do, in a wide variety of roles right across the public health system., and I thank them sincerely for it.”

    MIL OSI News –

  • MIL-Evening Report: Grattan on Friday: a possible Trump victory is making the Albanese government cagey about its 2035 climate target

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    If Donald Trump wins the US presidency on November 5, his victory will have profound implications for other countries on many fronts. Not least of them will be climate change policy.

    Perhaps the uncertainty now hanging over US politics was on the mind of Climate Change and Energy Minister Chris Bowen, who shilly-shallied this week over when he’ll announce Australia’s 2035 emissions reduction target under the Paris climate agreement.

    Bowen refused to be pinned down at the Australian Financial Review’s energy and climate summit on whether the target would be public before next year’s election. Neither his office nor that of the prime minister would be more specific later.

    Australia, like other countries, is required under the Paris agreement to put forward its target in February. But, also like other countries, Australia is focused on what’s happening in the US.

    Trump wants to take the US out of the Paris agreement for the second time. The first exit took effect immediately after his 2020 defeat and incoming President Joe Biden was able to reverse it at once. This time, there’d be no such quick turnaround.

    The Biden administration has been strongly committed on climate issues. If the US exited, the Paris agreement would likely be transformed.

    There may be other reasons why Bowen is being cagey about the 2035 target. Climate change and energy will be harder issues for Labor in this election, as it struggles with the realities of the transition, than in the 2022 one.

    In the run-up to that election, a desperate Scott Morrison pulled out all stops to win support within the Coalition to sign up to the 2050 net-zero emissions target.

    Labor was on the front foot, with a policy for a 43% reduction in emissions (on 2005 levels) by 2030, underpinned by a target of 82% renewable electricity by then. The election promise for consumers was a $275 cut in household power bills by 2025.

    Crafting a policy is often easier than implementing it. The journey to a clean energy economy is arduous.

    The $275 promise was quickly seen as unrealisable. The government has had to provide rebates to keep prices in check. The rollout of renewables is complicated by local resistance to some projects, including wind farms and transmission lines. At present, more than 40% of electricity comes from renewables.

    The cost-of-living crisis has increasingly dominated everything. Climate change remains a significant issue with people, but over time it tends to go up and down their scale of concerns, depending on changing circumstances.

    The Ipsos Climate Change Report, done annually, found in 2024 “strong notional support for the energy transition”, but low understanding of what progress had been made.

    Concerns about the negative impacts of the transition on cost of living and energy reliability have increased, particularly in the current high inflation environment. The perceived economic benefits of the transition are less clear, with many unsure about the impact on jobs and the broader economy.

    The emphasis on cost of living is influencing priorities for the energy transition, with Australians wanting to see energy prices and reliability prioritised. There is a growing sentiment that Australia should only take action if other countries are also contributing fairly to climate change efforts.

    Of course a summer of bad bushfires can change people’s priorities suddenly. Barring that, Labor is looking at a 2025 election in which it will be more on the defensive than the offensive on climate and energy issues.

    The opposition has already acted to sharpen the difference with Labor over the medium term targets. Peter Dutton will have no 2035 target before the election, and has questioned the 2030 target to which Australia is signed up, although he says a Coalition government would not leave the Paris agreement. He is also running hard on his controversial policy for nuclear energy.

    While Bowen is not clarifying whether he’ll announce the government’s target ahead of the election, it would be awkward for Australia not to meet the February deadline.

    There would not be a penalty, but it would be a bad look, especially given we are vying with Turkey to host, together with Pacific countries, COP31 in 2026. One unknown, incidentally, is whether a Coalition government would continue this bid, which the opposition has describes as a “vanity project”.

    If the government does announce the 2035 target before the election, the big question is how ambitious it will make it.

    Bowen will receive advice on this from the Climate Change Authority, to which the government has appointed, as head, former New South Wales Liberal Treasurer Matt Kean.

    In an earlier discussion paper, the authority said the evidence suggests

    A 2035 target in the range of 65-75% […] could be achievable and sustainable if additional action is taken by governments, business, investors and households […]. However, attempting to go much faster could risk significant levels of economic and social disruption and put progress at risk.

    A bold target would make the government more vulnerable, just when Labor would want the attention on the Coalition’s problematic nuclear policy. On the other hand, if the target were modest, that would be exploited by the Greens.

    Next month, Bowen will attend COP29 in Azerbaijan, where the central issue will be a financial goal, replacing the 2015 goal, for developed and major economies to help fund developing countries’ emission reduction efforts. Bowen, with Egyptian Environment Minister Yasmine Fouad, is leading the consultations on this, and so has a significant role at the conference.

    At the COP meeting, Bowen will get a better idea of where other countries are on their expected 2035 targets. He indicated this week he has already started taking soundings. “Obviously […] of course you think about international context.”

    By the time of COP, which runs November 11-22, America will have chosen its next president. The COP meeting will either be business-as-usual, looking to an incoming Kamala Harris presidency, or trying to anticipate the implications of a Trump administration that could be a major disruptor of international climate policy.

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

    – ref. Grattan on Friday: a possible Trump victory is making the Albanese government cagey about its 2035 climate target – https://theconversation.com/grattan-on-friday-a-possible-trump-victory-is-making-the-albanese-government-cagey-about-its-2035-climate-target-242107

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Excessive cadmium found in imported frozen shrimp sample

    Source: Hong Kong Government special administrative region

    Excessive cadmium found in imported frozen shrimp sample
    Excessive cadmium found in imported frozen shrimp sample
    ********************************************************

         The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department today (October 24) announced that a sample of imported frozen shrimp from Spain was detected with cadmium, a metallic contaminant, at a level exceeding the legal limit. The CFS is following up on the incident.     “The CFS collected the above-mentioned frozen shrimp sample at the import level for testing under its routine Food Surveillance Programme. The test result showed that the sample contained cadmium at a level of 2.79 parts per million, exceeding the legal limit of 2 ppm,” a spokesman for the CFS said.     “Long-term excessive intake of cadmium may affect the kidney functions. The CFS has informed the importer concerned of the irregularity and instructed it to stop sales and remove from shelves the affected product. The CFS is also tracing the source and distribution of the product concerned,” the spokesman added.     According to the Food Adulteration (Metallic Contamination) Regulations (Cap. 132V), any person who sells food with metallic contamination above the legal limit is liable upon conviction to a fine of $50,000 and imprisonment for six months.     The CFS will alert the Spanish authorities and the trade, continue to follow up on the incident and take appropriate action. The investigation is ongoing.

     
    Ends/Thursday, October 24, 2024Issued at HKT 18:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Amalgamated Financial Corp. Reports Record Third Quarter 2024 Financial Results; Margin Expands to 3.51%; Return on Average Assets of 1.32%

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 24, 2024 (GLOBE NEWSWIRE) — Amalgamated Financial Corp. (the “Company” or “Amalgamated”) (Nasdaq: AMAL), the holding company for Amalgamated Bank (the “Bank”), today announced financial results for the third quarter ended September 30, 2024.

    Third Quarter 2024 Highlights (on a linked quarter basis)

    • Net income of $27.9 million, or $0.90 per diluted share, compared to $26.8 million, or $0.87 per diluted share.
    • Core net income1 of $28.0 million, or $0.91 per diluted share, compared to $26.2 million, or $0.85 per diluted share.

    Deposits and Liquidity

    • Total deposits increased $145.6 million, or 2.0%, to $7.6 billion including a $51.3 million decline in Brokered CDs.
    • Excluding Brokered CDs, on-balance sheet deposits increased $196.9 million, or 2.7%, to $7.5 billion.
    • Political deposits increased $231.9 million, or 13%, to $2.0 billion, which includes both on and off-balance sheet deposits.
    • Off-balance sheet deposits increased $114.1 million, or 11%, to $1.2 billion, comprised of both transactional political deposits and other segment deposits.
    • Average cost of deposits, excluding Brokered CDs, increased 3 basis points to 151 basis points, where non-interest-bearing deposits comprised 51% of total deposits excluding Brokered CDs.

    Assets and Margin

    • Net loans receivable increased $78.0 million, or 1.8%, to $4.5 billion.
    • Excluding a $40.9 million package of low yielding residential loans marked-to-market and moved to held-for-sale, net loans receivable increased $118.9 million or 2.7%.
    • Total PACE assessments grew $10.6 million, or 0.9%, to $1.2 billion.
    • Net interest income grew $2.9 million, or 4.2%, to $72.1 million.
    • Net interest margin increased 5 basis points to 3.51%.

    Capital and Returns

    • Tier 1 leverage ratio of 8.63%, increased by 21 basis points, and Common Equity Tier 1 ratio of 13.82%.
    • Tangible common equity1 ratio of 8.14%, representing an eighth consecutive quarter of improvement.
    • Tangible book value per share1 increased $1.69, or 8.2%, to $22.29, and has increased $4.87, or 27.9% since September 2023.
    • Strong core return on average tangible common equity1 of 17.04% and core return on average assets1 of 1.33%.

    ________________________
    1 Reconciliations of non-GAAP financial measures to the most comparable GAAP measure are set forth on the last page of the financial information accompanying this press release and may also be found on our website, www.amalgamatedbank.com.

    Priscilla Sims Brown, President and Chief Executive Officer, commented, “Our third quarter financial results continue to demonstrate that Amalgamated remains positioned to achieve sustainable earnings and profitability.   During the quarter, we delivered outstanding deposit and loan growth, strong profitability and returns, and a growing capital base that positions us to invest in our strategic initiatives which will sustain our growth into the future.”

    Third Quarter Earnings

    Net income for the third quarter of 2024 was $27.9 million, or $0.90 per diluted share, compared to $26.8 million, or $0.87 per diluted share, for the second quarter of 2024. The $1.1 million increase during the quarter was primarily driven by a $3.2 million increase in non-core ICS One-Way Sell fee income from our off-balance sheet deposits, a $2.9 million increase in net interest income, a $1.3 million decrease in provision for credit losses, and a $0.7 million increase in non-core income from solar tax equity investments, which was expected. This was offset by a $4.3 million reduction in fair value on a pool of lower yielding residential loans moved to held for sale, a $1.5 million increase in non-interest expense, and a $1.3 million increase in income tax expense, and a $0.5 million increase in losses on securities sales.

    Core net income1 for the third quarter of 2024 was $28.0 million, or $0.91 per diluted share, compared to $26.2 million, or $0.85 per diluted share, for the second quarter of 2024. Excluded from core net income for the quarter, pre-tax, was $8.1 million of ICS One-Way Sell fee income, a $4.3 million reduction in fair value of held for sale residential loans, $3.2 million of losses on the sale of securities, $1.1 million of accelerated depreciation from solar tax equity investments, $0.7 million of gains on subordinated debt repurchases, and $0.2 million in severance costs. Excluded from core net income for the second quarter of 2024, pre-tax, was $4.9 million of ICS One-Way Sell fee income, $2.7 million of losses on the sale of securities, $1.8 million of accelerated depreciation from our solar tax equity investments, $0.4 million of gains on subordinated debt repurchases.

    Net interest income was $72.1 million for the third quarter of 2024, compared to $69.2 million for the second quarter of 2024. Loan interest income increased $2.8 million and loan yields increased 11 basis points mainly as a result of a $86.7 million increase in average loan balances. Adjusted for two discrete items; the effect of $2.1 million of accelerated amortization related to purchase premiums last quarter and the recognition in the current quarter of a $1.3 million acceleration of deferred costs on certain loans, loan interest income increased by $2.1 million in the quarter. Interest income on securities increased $1.7 million driven by an increase in the average balance of securities of $79.7 million. Interest expense on total interest-bearing deposits increased $1.2 million driven by a 26 basis point increase in cost despite a decrease in the average balance of total interest-bearing deposits of $235.6 million. The increase in deposit cost was primarily related to adjustments to rates on money market products and select non-time deposit accounts late in second quarter and early in the current quarter.   The decrease in the average balance of interest-bearing deposits was primarily driven by a mix shift as newly raised political deposits were mainly non-interest-bearing whereas related outflows were mainly interest-bearing. Additionally, the average balance on Brokered CD’s declined $25.0 million as certain long-term issuances were called. The average balance of borrowings also decreased $32.6 million, now substantially consisting of lower-cost subordinated debt.

    Net interest margin was 3.51% for the third quarter of 2024, an increase of 5 basis points from 3.46% in the second quarter of 2024. As noted above, there were two discrete items that affected the third quarter and second quarter margin. Excluding these discrete items, net interest margin improved 2 basis points from the prior quarter, all else equal. Prepayment penalties had no impact on our net interest margin in the third quarter of 2024, which is the same as in the prior quarter.

    Provision for credit losses totaled an expense of $1.8 million for the third quarter of 2024 compared to an expense of $3.2 million in the second quarter of 2024. The expense in the third quarter was primarily driven by charge-offs on our consumer solar and small business portfolios, and updates to CECL model assumptions, offset by decreases in reserves for unfunded loan commitments.

    Non-interest income was $8.9 million for the third quarter of 2024, compared to $9.3 million in the second quarter of 2024. Excluding all non-core income adjustments noted above, core non-interest income1 was $8.8 million for the third quarter of 2024, compared to $8.5 million in the second quarter of 2024. The increase was primarily related to higher commercial banking fees, increased fees from our treasury investment services, and modestly higher income from our trust business.

    Non-interest expense for the third quarter of 2024 was $41.0 million, an increase of $1.5 million from the second quarter of 2024. Core non-interest expense1 for the third quarter of 2024 was $40.7 million, an increase of $1.3 million from the second quarter of 2024. This was mainly driven by a $0.7 million increase in compensation and employee benefits expense due to strategic new hires and corporate performance accruals, as well as higher data processing expense related to the advance of digital initiatives scheduled for 2025.

    Our provision for income tax expense was $10.3 million for the third quarter of 2024, compared to $9.0 million for the second quarter of 2024. The effective tax rate for the third quarter of 2024 was 26.9%. In the prior quarter, there were $0.5 million of discrete tax benefits resulting in an effective tax rate of 25.2%, or 26.6% excluding the discrete items.

    Balance Sheet Quarterly Summary

    Total assets were $8.4 billion at September 30, 2024, compared to $8.3 billion at June 30, 2024, which modestly grew the balance sheet above its target range but also carried $40.9 million in loans held for sale related to the residential loan sale that settled shortly after the quarter closed. Notable changes within individual balance sheet line items include a $91.2 million increase in cash and cash equivalents, a $24.1 million increase in securities, and a $78.0 million increase in net loans receivable. Additionally, deposits excluding Brokered CDs increased by $196.9 million while Brokered CDs decreased $51.3 million, and borrowings decreased by $8.8 million. Our off-balance sheet deposits increased by $114.1 million, or 11%, to $1.2 billion.

    Total net loans receivable, at September 30, 2024 were $4.5 billion, an increase of $78.0 million, or 1.8% for the quarter. The increase in loans is primarily driven by a $60.8 million increase in multifamily loans, a $46.0 million increase in commercial and industrial loans, and a $37.6 million increase in commercial real estate loans, offset by an $11.1 million decrease in consumer solar loans, and a $54.3 million decrease in residential loans, primarily due to the noted loan pool sale. During the quarter, criticized or classified loans decreased $5.9 million, largely related to a $6.9 million note sale (with a related fully reserved $4.5 million charge-off) on a legacy non-accrual leveraged loan. Additionally, payoffs of two delinquent commercial and industrial loans totaling $1.7 million and charge-offs of smaller commercial and industrial loans totaling $1.0 million were offset by the downgrade of one $3.2 million multifamily loan to substandard and accruing and downgrades of small business loans totaling $1.1 million.

    Total deposits at September 30, 2024 were $7.6 billion, an increase of $145.6 million, or 2.0%, during the quarter. Total deposits excluding Brokered CDs increased by $196.9 million to $7.5 billion, or a 2.7% increase. Including accounts currently held off-balance sheet, deposits held by politically active customers, such as campaigns, PACs, advocacy-based organizations, and state and national party committees were $2.0 billion as of September 30, 2024, an increase of $231.9 million during this quarter. Non-interest-bearing deposits represented 50% of average total deposits and 51% of ending total deposits for the quarter, excluding Brokered CDs, contributing to an average cost of total deposits of 158 basis points. Super-core deposits2 totaled approximately $4.5 billion, had a weighted average life of 16 years, and comprised 60% of total deposits, excluding Brokered CDs. Total uninsured deposits were $4.5 billion, comprising 59% of total deposits.

    Nonperforming assets totaled $28.6 million, or 0.34% of period-end total assets at September 30, 2024, a decrease of $7.1 million, compared with $35.7 million, or 0.43% on a linked quarter basis. The decrease in nonperforming assets was primarily driven by the note sale mentioned above, a $0.2 million decrease in residential real estate nonaccrual loans, a $0.2 million decrease in consumer and consumer solar nonaccrual loans, offset by a $0.3 million increase in commercial and industrial nonaccrual loans.

    During the quarter, the allowance for credit losses on loans decreased $1.9 million to $61.5 million. The ratio of allowance to total loans was 1.35%, a decrease of 7 basis points from 1.42% in the second quarter of 2024. The decrease was primarily the result of a release of reserves from the previously noted legacy leveraged commercial and industrial note sale, which carried a reserve of $4.5 million.

    ________________________
    2 Refer to Terminology on page 6 for definitions of certain terms used in this release.


    Capital Quarterly Summary

    As of September 30, 2024, the Common Equity Tier 1 Capital ratio was 13.82%, the Total Risk-Based Capital ratio was 16.25%, and the Tier 1 Leverage Capital ratio was 8.63%, compared to 13.48%, 16.04% and 8.42%, respectively, as of June 30, 2024. Stockholders’ equity at September 30, 2024 was $698.3 million, an increase of $52.2 million during the quarter. The increase in stockholders’ equity was primarily driven by $27.9 million of net income for the quarter and a $26.9 million improvement in accumulated other comprehensive loss due to the tax effected mark-to-market on our available for sale securities portfolio, offset by $3.7 million in dividends paid at $0.12 per outstanding share.

    Tangible book value per share was $22.29 as of September 30, 2024 compared to $20.61 as of June 30, 2024. Tangible common equity1 improved to 8.14% of tangible assets, compared to 7.66% as of June 30, 2024.

    Conference Call

    As previously announced, Amalgamated Financial Corp. will host a conference call to discuss its third quarter 2024 results today, October 24, 2024 at 11:00am (Eastern Time). The conference call can be accessed by dialing 1-877-407-9716 (domestic) or 1-201-493-6779 (international) and asking for the Amalgamated Financial Corp. Third Quarter 2024 Earnings Call. A telephonic replay will be available approximately two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers 1-412-317-6671 and providing the access code 13748697. The telephonic replay will be available until October 31, 2024.

    Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the investor relations section of our website at https://ir.amalgamatedbank.com/. The online replay will remain available for a limited time beginning immediately following the call.

    The presentation materials for the call can be accessed on the investor relations section of our website at https://ir.amalgamatedbank.com/.

    About Amalgamated Financial Corp.

    Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Bank. Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of five branches across New York City, Washington D.C., and San Francisco, and a commercial office in Boston. Amalgamated Bank was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country’s oldest labor unions. Amalgamated Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated Bank is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of September 30, 2024, our total assets were $8.4 billion, total net loans were $4.5 billion, and total deposits were $7.6 billion. Additionally, as of September 30, 2024, our trust business held $35.4 billion in assets under custody and $14.6 billion in assets under management.

    Non-GAAP Financial Measures

    This release (and the accompanying financial information and tables) refer to certain non-GAAP financial measures including, without limitation, “Core operating revenue,” “Core non-interest expense,” “Core non-interest income,” “Core net income,” “Tangible common equity,” “Average tangible common equity,” “Core return on average assets,” “Core return on average tangible common equity,” and “Core efficiency ratio.”

    Our management utilizes this information to compare our operating performance for September 30, 2024 versus certain periods in 2024 and 2023 and to prepare internal projections. We believe these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of our operating performance. In addition, because intangible assets such as goodwill and other discrete items unrelated to our core business, which are excluded, vary extensively from company to company, we believe that the presentation of this information allows investors to more easily compare our results to those of other companies.

    The presentation of non-GAAP financial information, however, is not intended to be considered in isolation or as a substitute for GAAP financial measures. We strongly encourage readers to review the GAAP financial measures included in this release and not to place undue reliance upon any single financial measure. In addition, because non-GAAP financial measures are not standardized, it may not be possible to compare the non-GAAP financial measures presented in this release with other companies’ non-GAAP financial measures having the same or similar names. Reconciliations of non-GAAP financial disclosures to comparable GAAP measures found in this release are set forth in the final pages of this release and also may be viewed on our website, amalgamatedbank.com.

    Terminology

    Certain terms used in this release are defined as follows:

    “Core efficiency ratio” is defined as “Core non-interest expense” divided by “Core operating revenue.” We believe the most directly comparable performance ratio derived from GAAP financial measures is an efficiency ratio calculated by dividing total non-interest expense by the sum of net interest income and total non-interest income.

    “Core net income” is defined as net income after tax excluding gains and losses on sales of securities, ICS One-Way Sell fee income, gains on the sale of owned property, costs related to branch closures, restructuring/severance costs, acquisition costs, tax credits and accelerated depreciation on solar equity investments, and taxes on notable pre-tax items. We believe the most directly comparable GAAP financial measure is net income.

    “Core non-interest expense” is defined as total non-interest expense excluding costs related to branch closures, restructuring/severance, and acquisitions. We believe the most directly comparable GAAP financial measure is total non-interest expense.

    “Core non-interest income” is defined as total non-interest income excluding gains and losses on sales of securities, ICS One-Way Sell fee income, gains on the sale of owned property, and tax credits and accelerated depreciation on solar equity investments. We believe the most directly comparable GAAP financial measure is non-interest income.

    “Core operating revenue” is defined as total net interest income plus “core non-interest income”. We believe the most directly comparable GAAP financial measure is the total of net interest income and non-interest income.

    “Core return on average assets” is defined as “Core net income” divided by average total assets. We believe the most directly comparable performance ratio derived from GAAP financial measures is return on average assets calculated by dividing net income by average total assets.

    “Core return on average tangible common equity” is defined as “Core net income” divided by average “tangible common equity.” We believe the most directly comparable performance ratio derived from GAAP financial measures is return on average equity calculated by dividing net income by average total stockholders’ equity.

    “Super-core deposits” are defined as total deposits from commercial and consumer customers, with a relationship length of greater than 5 years. We believe the most directly comparable GAAP financial measure is total deposits.

    “Tangible assets” are defined as total assets excluding, as applicable, goodwill and core deposit intangibles. We believe the most directly comparable GAAP financial measure is total assets.

    “Tangible common equity”, and “Tangible book value” are defined as stockholders’ equity excluding, as applicable, minority interests, preferred stock, goodwill and core deposit intangibles. We believe that the most directly comparable GAAP financial measure is total stockholders’ equity.

    “Traditional securities portfolio” is defined as total investment securities excluding PACE assessments. We believe the most directly comparable GAAP financial measure is total investment securities.

    Forward-Looking Statements

    Statements included in this release that are not historical in nature are intended to be, and are hereby identified as, forward-looking statements within the meaning of the Private Securities Litigation Reform Act, Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not statements of historical or current fact nor are they assurances of future performance and generally can be identified by the use of forward-looking terminology, such as “may,” “approximately,” “will,” “anticipate,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “possible,” and “intend,” or the negative thereof as well as other similar words and expressions of the future. Forward-looking statements are subject to risks, uncertainties and assumptions that are difficult to predict as to timing, extent, likelihood and degree of occurrence, which could cause our actual results to differ materially from those anticipated in or by such statements. Potential risks and uncertainties include, but are not limited to, the following: (i) uncertain conditions in the banking industry and in national, regional and local economies in our core markets, which may have an adverse impact on our business, operations and financial performance; (ii) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (iii) deposit outflows and subsequent declines in liquidity caused by factors that could include lack of confidence in the banking system, a deterioration in market conditions or the financial condition of depositors; (iv) changes in our deposits, including an increase in uninsured deposits; (v) our ability to maintain sufficient liquidity to meet our deposit and debt obligations as they come due, which may require that we sell investment securities at a loss, negatively impacting our net income, earnings and capital; (vi) unfavorable conditions in the capital markets, which may cause declines in our stock price and the value of our investments; (vii) negative economic and political conditions that adversely affect the general economy, housing prices, the real estate market, the job market, consumer confidence, the financial condition of our borrowers and consumer spending habits, which may affect, among other things, the level of non-performing assets, charge-offs and provision expense; (viii) fluctuations or unanticipated changes in the interest rate environment including changes in net interest margin or changes in the yield curve that affect investments, loans or deposits; (ix) the general decline in the real estate and lending markets, particularly in commercial real estate in our market areas, and the effects of the enactment of or changes to rent-control and other similar regulations on multi-family housing; (x) changes in legislation, regulation, public policies, or administrative practices impacting the banking industry, including increased minimum capital requirements and other regulation in the aftermath of recent bank failures; (xi) the outcome of any legal proceedings that may be instituted against us (xii) our inability to achieve organic loan and deposit growth and the composition of that growth; (xiii) the composition of our loan portfolio, including any concentration in industries or sectors that may experience unanticipated or anticipated adverse conditions greater than other industries or sectors in the national or local economies in which we operate; (xiv) inaccuracy of the assumptions and estimates we make and policies that we implement in establishing our allowance for credit losses; (xv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (xvi) any matter that would cause us to conclude that there was impairment of any asset, including intangible assets; (xvii) limitations on our ability to declare and pay dividends; (xviii) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on our results, including as a result of compression to net interest margin; (xix) increased competition for experienced members of the workforce including executives in the banking industry; (xx) a failure in or breach of our operational or security systems or infrastructure, or those of third party vendors or other service providers, including as a result of unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxi) increased regulatory scrutiny and exposure from the use of “big data” techniques, machine learning, and artificial intelligence; (xxii) downgrade in our credit rating; (xxiii) “greenwashing claims” against us and our Environmental, Social and Governance (“ESG”) products and increased scrutiny and political opposition to ESG and Diversity, Equity and Inclusion (“DEI”) practices; (xxiv) any unanticipated or greater than anticipated adverse conditions (including the possibility of earthquakes, wildfires, and other natural disasters)affecting the markets in which we operate; (xxv) physical and transitional risks related to climate change as they impact our business and the businesses that we finance; (xxvi) future repurchase of our shares through our common stock repurchase program; and (xxvii) descriptions of assumptions underlying or relating to any of the foregoing. Additional factors which could affect the forward-looking statements can be found in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available on the SEC’s website at https://www.sec.gov/. We disclaim any obligation to update or revise any forward-looking statements contained in this release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law.

    Investor Contact:
    Jamie Lillis
    Solebury Strategic Communications
    shareholderrelations@amalgamatedbank.com
    800-895-4172

    Consolidated Statements of Income (unaudited)

      Three Months Ended   Nine Months Ended
      September 30,   June 30,   September 30,   September 30,
    ($ in thousands)   2024       2024       2023       2024       2023  
    INTEREST AND DIVIDEND INCOME                  
    Loans $ 54,110     $ 51,293     $ 49,578     $ 157,355     $ 139,744  
    Securities   46,432       44,978       39,971       133,801       118,989  
    Interest-bearing deposits in banks   2,274       2,690       1,687       7,556       3,360  
    Total interest and dividend income   102,816       98,961       91,236       298,712       262,093  
    INTEREST EXPENSE                  
    Deposits   30,105       28,882       23,158       84,879       55,809  
    Borrowed funds   604       887       4,350       4,497       12,292  
    Total interest expense   30,709       29,769       27,508       89,376       68,101  
    NET INTEREST INCOME   72,107       69,192       63,728       209,336       193,992  
    Provision for credit losses   1,849       3,161       2,014       6,598       10,913  
    Net interest income after provision for credit losses   70,258       66,031       61,714       202,738       183,079  
    NON-INTEREST INCOME                  
    Trust Department fees   3,704       3,657       3,678       11,215       11,613  
    Service charges on deposit accounts   12,091       8,614       2,731       26,841       7,897  
    Bank-owned life insurance income   613       615       727       1,837       2,054  
    Losses on sale of securities   (3,230 )     (2,691 )     (1,699 )     (8,695 )     (5,052 )
    Gain (loss) on sale of loans and changes in fair value on loans held-for-sale, net   (4,223 )     69       26       (4,107 )     30  
    Equity method investments income (loss)   (823 )     (1,551 )     550       (301 )     1,261  
    Other income   807       545       767       1,636       2,127  
    Total non-interest income   8,939       9,258       6,780       28,426       19,930  
    NON-INTEREST EXPENSE                  
    Compensation and employee benefits   23,757       23,045       21,345       69,075       64,525  
    Occupancy and depreciation   3,423       3,379       3,349       9,705       10,184  
    Professional fees   2,575       2,332       2,222       7,284       7,211  
    Data processing   5,087       4,786       4,545       14,503       13,176  
    Office maintenance and depreciation   651       580       685       1,894       2,130  
    Amortization of intangible assets   183       182       222       548       666  
    Advertising and promotion   1,023       1,175       816       3,417       3,431  
    Federal deposit insurance premiums   900       1,050       1,200       3,000       3,018  
    Other expense   3,365       2,983       2,955       9,203       9,154  
    Total non-interest expense   40,964       39,512       37,339       118,629       113,495  
    Income before income taxes   38,233       35,777       31,155       112,535       89,514  
    Income tax expense   10,291       9,024       8,847       30,591       24,230  
    Net income $ 27,942     $ 26,753     $ 22,308     $ 81,944     $ 65,284  
    Earnings per common share – basic $ 0.91     $ 0.88     $ 0.73     $ 2.68     $ 2.13  
    Earnings per common share – diluted $ 0.90     $ 0.87     $ 0.73     $ 2.65     $ 2.12  

    Consolidated Statements of Financial Condition

    ($ in thousands) September 30,
    2024    		   June 30,
    2024    		   December 31,
    2023
    Assets (unaudited)   (unaudited)    
    Cash and due from banks $ 3,946     $ 4,081     $ 2,856  
    Interest-bearing deposits in banks   145,261       53,912       87,714  
    Total cash and cash equivalents   149,207       57,993       90,570  
    Securities:          
    Available for sale, at fair value          
    Traditional securities   1,617,045       1,581,338       1,429,739  
    Property Assessed Clean Energy (“PACE”) assessments   149,500       112,923       53,303  
        1,766,545       1,694,261       1,483,042  
    Held-to-maturity, at amortized cost:          
    Traditional securities, net of allowance for credit losses of $51, $53, and $54, respectively   583,788       606,013       620,232  
    PACE assessments, net of allowance for credit losses of $641, $655, and $667, respectively   1,028,588       1,054,569       1,076,602  
        1,612,376       1,660,582       1,696,834  
               
    Loans held for sale   38,623       1,926       1,817  
    Loans receivable, net of deferred loan origination costs   4,547,903       4,471,839       4,411,319  
    Allowance for credit losses   (61,466 )     (63,444 )     (65,691 )
    Loans receivable, net   4,486,437       4,408,395       4,345,628  
               
    Resell agreements   74,883       137,461       50,000  
    Federal Home Loan Bank of New York (“FHLBNY”) stock, at cost   4,625       4,823       4,389  
    Accrued interest receivable   54,268       52,575       55,484  
    Premises and equipment, net   6,413       6,599       7,807  
    Bank-owned life insurance   107,365       106,752       105,528  
    Right-of-use lease asset   16,125       17,971       21,074  
    Deferred tax asset, net   38,510       47,654       56,603  
    Goodwill   12,936       12,936       12,936  
    Intangible assets, net   1,669       1,852       2,217  
    Equity method investments   11,514       12,710       13,024  
    Other assets   32,144       26,214       25,371  
    Total assets $ 8,413,640     $ 8,250,704     $ 7,972,324  
    Liabilities          
    Deposits $ 7,594,564     $ 7,448,988     $ 7,011,988  
    Borrowings   68,436       77,252       304,927  
    Operating leases   22,292       24,784       30,646  
    Other liabilities   30,016       53,568       39,399  
    Total liabilities   7,715,308       7,604,592       7,386,960  
    Stockholders’ equity          
    Common stock, par value $.01 per share   308       307       307  
    Additional paid-in capital   287,167       286,021       288,232  
    Retained earnings   459,398       435,202       388,033  
    Accumulated other comprehensive loss, net of income taxes   (46,702 )     (73,579 )     (86,004 )
    Treasury stock, at cost   (1,972 )     (1,972 )     (5,337 )
    Total Amalgamated Financial Corp. stockholders’ equity   698,199       645,979       585,231  
    Noncontrolling interests   133       133       133  
    Total stockholders’ equity   698,332       646,112       585,364  
    Total liabilities and stockholders’ equity $ 8,413,640     $ 8,250,704     $ 7,972,324  

    Select Financial Data

      As of and for the   As of and for the
      Three Months Ended   Nine Months Ended
      September 30,   June 30,   September 30,   September 30,
    (Shares in thousands)   2024       2024       2023       2024       2023  
    Selected Financial Ratios and Other Data:                  
    Earnings per share                  
    Basic $ 0.91     $ 0.88     $ 0.73     $ 2.68     $ 2.13  
    Diluted   0.90       0.87       0.73       2.65       2.12  
    Core net income (non-GAAP)                  
    Basic $ 0.91     $ 0.86     $ 0.76     $ 2.61     $ 2.23  
    Diluted   0.91       0.85       0.76       2.59       2.22  
    Book value per common share (excluding minority interest) $ 22.77     $ 21.09     $ 17.93     $ 22.77     $ 17.93  
    Tangible book value per share (non-GAAP) $ 22.29     $ 20.61     $ 17.43     $ 22.29     $ 17.43  
    Common shares outstanding, par value $.01 per share(1)   30,663       30,630       30,459       30,663       30,459  
    Weighted average common shares outstanding, basic   30,646       30,551       30,481       30,558       30,601  
    Weighted average common shares outstanding, diluted   30,911       30,832       30,590       30,868       30,738  
                       
    (1) 70,000,000 shares authorized; 30,776,163, 30,743,666, and 30,736,141 shares issued for the periods ended September 30, 2024, June 30, 2024, and September 30, 2023 respectively, and 30,662,883, 30,630,386, and 30,458,781 shares outstanding for the periods ended September 30, 2024, June 30, 2024, and September 30, 2023, respectively.

    Select Financial Data

      As of and for the   As of and for the
      Three Months Ended   Nine Months Ended
      September 30,   June 30,   September 30,   September 30,
      2024   2024   2023   2024   2023
    Selected Performance Metrics:                  
    Return on average assets 1.32 %   1.30 %   1.12 %   1.33 %   1.11 %
    Core return on average assets (non-GAAP) 1.33 %   1.27 %   1.17 %   1.29 %   1.17 %
    Return on average equity 16.63 %   17.27 %   16.43 %   17.35 %   16.69 %
    Core return on average tangible common equity (non-GAAP) 17.04 %   17.34 %   17.67 %   17.31 %   18.02 %
    Average equity to average assets 7.96 %   7.53 %   6.82 %   7.65 %   6.67 %
    Tangible common equity to tangible assets (non-GAAP) 8.14 %   7.66 %   6.72 %   8.14 %   6.72 %
    Loan yield 4.79 %   4.68 %   4.56 %   4.74 %   4.43 %
    Securities yield 5.25 %   5.22 %   4.94 %   5.23 %   4.84 %
    Deposit cost 1.58 %   1.55 %   1.33 %   1.53 %   1.08 %
    Net interest margin 3.51 %   3.46 %   3.29 %   3.48 %   3.40 %
    Efficiency ratio (1) 50.54 %   50.37 %   52.96 %   49.89 %   53.05 %
    Core efficiency ratio (non-GAAP) 50.35 %   50.80 %   51.71 %   50.52 %   51.88 %
                       
    Asset Quality Ratios:                  
    Nonaccrual loans to total loans 0.61 %   0.78 %   0.79 %   0.61 %   0.79 %
    Nonperforming assets to total assets 0.34 %   0.43 %   0.46 %   0.34 %   0.46 %
    Allowance for credit losses on loans to nonaccrual loans 222.30 %   182.83 %   197.58 %   222.30 %   197.58 %
    Allowance for credit losses on loans to total loans 1.35 %   1.42 %   1.56 %   1.35 %   1.56 %
    Annualized net charge-offs to average loans 0.61 %   0.25 %   0.27 %   0.35 %   0.27 %
                       
    Capital Ratios:                  
    Tier 1 leverage capital ratio 8.63 %   8.42 %   7.89 %   8.63 %   7.89 %
    Tier 1 risk-based capital ratio 13.82 %   13.48 %   12.63 %   13.82 %   12.63 %
    Total risk-based capital ratio 16.25 %   16.04 %   15.28 %   16.25 %   15.28 %
    Common equity tier 1 capital ratio 13.82 %   13.48 %   12.63 %   13.82 %   12.63 %
                       
    (1) Efficiency ratio is calculated by dividing total non-interest expense by the sum of net interest income and total non-interest income

    Loan and PACE Assessments Portfolio Composition

    (In thousands) At September 30, 2024   At June 30, 2024   At September 30, 2023
      Amount   % of total   Amount   % of total   Amount   % of total
    Commercial portfolio:                      
    Commercial and industrial $ 1,058,376     23.3 %   $ 1,012,400     22.6 %   $ 1,050,355     24.1 %
    Multifamily   1,291,380     28.4 %     1,230,545     27.5 %     1,094,955     25.1 %
    Commercial real estate   415,077     9.1 %     377,484     8.4 %     324,139     7.4 %
    Construction and land development   22,224     0.5 %     23,254     0.5 %     28,326     0.6 %
    Total commercial portfolio   2,787,057     61.3 %     2,643,683     59.0 %     2,497,775     57.2 %
                           
    Retail portfolio:                      
                           
    Residential real estate lending   1,350,347     29.7 %     1,404,624     31.4 %     1,409,530     32.3 %
    Consumer solar   374,499     8.2 %     385,567     8.6 %     415,324     9.5 %
    Consumer and other   36,000     0.8 %     37,965     1.0 %     42,116     1.0 %
    Total retail portfolio   1,760,846     38.7 %     1,828,156     41.0 %     1,866,970     42.8 %
    Total loans held for investment   4,547,903     100.0 %     4,471,839     100.0 %     4,364,745     100.0 %
                           
    Allowance for credit losses   (61,466 )         (63,444 )         (67,815 )    
    Loans receivable, net $ 4,486,437         $ 4,408,395         $ 4,296,930      
                           
    PACE assessments:                      
    Available for sale, at fair value                      
    Residential PACE assessments   149,500     12.7 %     112,923     9.7 %     38,526     3.5 %
                           
    Held-to-maturity, at amortized cost                      
    Commercial PACE assessments   256,128     21.7 %     256,663     22.0 %     270,020     24.3 %
    Residential PACE assessments   773,101     65.6 %     798,561     68.4 %     800,484     72.2 %
    Total Held-to-maturity PACE assessments   1,029,229     87.3 %     1,055,224     90.4 %     1,070,504     96.5 %
    Total PACE assessments   1,178,729     100.0 %     1,168,147     100.0 %     1,109,030     100.0 %
                           
    Allowance for credit losses   (641 )         (655 )         (670 )    
    Total PACE assessments, net $ 1,178,088         $ 1,167,492         $ 1,108,360      
                           
                           
    Loans receivable, net and total PACE assessments, net as a % of Deposits   74.6 %         74.9 %         77.3 %    
    Loans receivable, net and total PACE assessments, net as a % of Deposits excluding Brokered CDs   75.6 %         76.4 %         81.9 %    

    Net Interest Income Analysis

      Three Months Ended
      September 30, 2024   June 30, 2024   September 30, 2023
    (In thousands) Average
    Balance    		 Income /
    Expense    		 Yield /
    Rate    		   Average
    Balance    		 Income /
    Expense    		 Yield /
    Rate    		   Average
    Balance    		 Income /
    Expense    		 Yield /
    Rate
                                       
    Interest-earning assets:                                  
    Interest-bearing deposits in banks $ 182,981   $ 2,274   4.94 %   $ 213,725   $ 2,690   5.06 %   $ 170,830   $ 1,687   3.92 %
    Securities(1)   3,388,580     44,678   5.25 %     3,308,881     42,937   5.22 %     3,208,334     39,971   4.94 %
    Resell agreements   104,933     1,754   6.65 %     122,618     2,041   6.69 %     —     —   0.00 %
    Loans receivable, net (2)   4,493,520     54,110   4.79 %     4,406,843     51,293   4.68 %     4,314,767     49,578   4.56 %
    Total interest-earning assets   8,170,014     102,816   5.01 %     8,052,067     98,961   4.94 %     7,693,931     91,236   4.70 %
    Non-interest-earning assets:                                  
    Cash and due from banks   6,144             6,371             6,129        
    Other assets   217,332             217,578             204,506        
    Total assets $ 8,393,490           $ 8,276,016           $ 7,904,566        
                                       
    Interest-bearing liabilities:                                  
    Savings, NOW and money market deposits $ 3,506,499   $ 26,168   2.97 %   $ 3,729,858   $ 24,992   2.69 %   $ 3,446,027   $ 17,157   1.98 %
    Time deposits   223,337     2,148   3.83 %     210,565     1,898   3.63 %     176,171     1,122   2.53 %
    Brokered CDs   131,103     1,789   5.43 %     156,086     1,992   5.13 %     371,329     4,879   5.21 %
    Total interest-bearing deposits   3,860,939     30,105   3.10 %     4,096,509     28,882   2.84 %     3,993,527     23,158   2.30 %
    Borrowings   71,948     604   3.34 %     104,560     887   3.41 %     376,585     4,350   4.58 %
    Total interest-bearing liabilities   3,932,887     30,709   3.11 %     4,201,069     29,769   2.85 %     4,370,112     27,508   2.50 %
    Non-interest-bearing liabilities:                                  
    Demand and transaction deposits   3,721,398             3,390,941             2,920,737        
    Other liabilities   70,804             60,982             74,964        
    Total liabilities   7,725,089             7,652,992             7,365,813        
    Stockholders’ equity   668,401             623,024             538,753        
    Total liabilities and stockholders’ equity $ 8,393,490           $ 8,276,016           $ 7,904,566        
                                       
    Net interest income / interest rate spread     $ 72,107   1.90 %       $ 69,192   2.09 %       $ 63,728   2.20 %
    Net interest-earning assets / net interest margin $ 4,237,127       3.51 %   $ 3,850,998       3.46 %   $ 3,323,819       3.29 %
                                       
    Total deposits excluding Brokered CDs / total cost of deposits excluding Brokered CDs $ 7,451,234       1.51 %   $ 7,331,364       1.48 %   $ 6,542,935       1.11 %
    Total deposits / total cost of deposits $ 7,582,337       1.58 %   $ 7,487,450       1.55 %   $ 6,914,264       1.33 %
    Total funding / total cost of funds $ 7,654,285       1.60 %   $ 7,592,010       1.58 %   $ 7,290,849       1.50 %
                                                   

    (1) Includes FHLBNY stock in the average balance, and dividend income on FHLBNY stock in interest income.
    (2) No material impact of prepayment penalty interest income in 3Q2024, 2Q2024, or 3Q2023

    Net Interest Income Analysis

      Nine Months Ended
      September 30, 2024   September 30, 2023
    (In thousands) Average
    Balance    		 Income /
    Expense    		 Yield /
    Rate    		   Average
    Balance    		 Income /
    Expense    		 Yield /
    Rate
                           
    Interest-earning assets:                      
    Interest-bearing deposits in banks $ 200,627   $ 7,556   5.03 %   $ 125,560   $ 3,360   3.58 %
    Securities   3,289,635     128,679   5.23 %     3,276,065     118,557   4.84 %
    Resell agreements   102,197     5,122   6.69 %     8,003     432   7.22 %
    Total loans, net (1)(2)   4,431,801     157,355   4.74 %     4,216,391     139,744   4.43 %
    Total interest-earning assets   8,024,260     298,712   4.97 %     7,626,019     262,093   4.60 %
    Non-interest-earning assets:                      
    Cash and due from banks   5,862             5,067        
    Other assets   219,096             210,112        
    Total assets $ 8,249,218           $ 7,841,198        
                           
    Interest-bearing liabilities:                      
    Savings, NOW and money market deposits $ 3,608,927   $ 73,033   2.70 %   $ 3,248,278   $ 40,010   1.65 %
    Time deposits   207,374     5,622   3.62 %     161,756     2,030   1.68 %
    Brokered CDs   159,041     6,224   5.23 %     383,521     13,769   4.80 %
    Total interest-bearing deposits   3,975,342     84,879   2.85 %     3,793,555     55,809   1.97 %
    Borrowings   154,564     4,497   3.89 %     365,262     12,292   4.50 %
    Total interest-bearing liabilities   4,129,906     89,376   2.89 %     4,158,817     68,101   2.19 %
    Non-interest-bearing liabilities:                      
    Demand and transaction deposits   3,417,970             3,086,482        
    Other liabilities   70,476             72,821        
    Total liabilities   7,618,352             7,318,120        
    Stockholders’ equity   630,866             523,078        
    Total liabilities and stockholders’ equity $ 8,249,218           $ 7,841,198        
                           
    Net interest income / interest rate spread     $ 209,336   2.08 %       $ 193,992   2.41 %
    Net interest-earning assets / net interest margin $ 3,894,354       3.48 %   $ 3,467,202       3.40 %
                           
    Total deposits excluding Brokered CDs / total cost of deposits excluding Brokered CDs $ 7,234,271       1.45 %   $ 6,496,516       0.87 %
    Total deposits / total cost of deposits $ 7,393,312       1.53 %   $ 6,880,037       1.08 %
    Total funding / total cost of funds $ 7,547,876       1.58 %   $ 7,245,299       1.26 %
                                   

    (1) Includes Federal Home Loan Bank (FHLB) stock in the average balance, and dividend income on FHLB stock in interest income.
    (2) Includes prepayment penalty interest income in September YTD 2024 and September YTD 2023 of $18 thousand and $0, respectively.

    Deposit Portfolio Composition

      Three Months Ended
    (In thousands) September 30, 2024   June 30, 2024   September 30, 2023
      Ending
    Balance    		   Average
    Balance    		   Ending
    Balance    		   Average
    Balance    		   Ending
    Balance    		   Average
    Balance
    Non-interest-bearing demand deposit accounts $ 3,801,834   $ 3,721,398   $ 3,445,068   $ 3,390,941   $ 2,808,300   $ 2,920,737
    NOW accounts   186,557     188,250     192,452     191,253     192,654     192,883
    Money market deposit accounts   2,959,264     2,986,434     3,093,644     3,202,365     3,059,982     2,893,930
    Savings accounts   327,935     331,816     336,943     336,240     357,470     359,214
    Time deposits   216,901     223,337     227,437     210,565     180,529     176,171
    Brokered certificates of deposit (“CDs”)   102,073     131,103     153,444     156,086     391,919     371,329
    Total deposits $ 7,594,564   $ 7,582,338   $ 7,448,988   $ 7,487,450   $ 6,990,854   $ 6,914,264
                           
    Total deposits excluding Brokered CDs $ 7,492,491   $ 7,451,235   $ 7,295,544   $ 7,331,364   $ 6,598,935   $ 6,542,935
      Three Months Ended
      September 30, 2024   June 30, 2024   September 30, 2023
    (In thousands) Average
    Rate Paid(1)    		   Cost of
    Funds    		   Average
    Rate Paid(1)    		   Cost of
    Funds    		   Average
    Rate Paid(1)    		   Cost of
    Funds
                           
    Non-interest bearing demand deposit accounts 0.00 %   0.00 %   0.00 %   0.00 %   0.00 %   0.00 %
    NOW accounts 0.90 %   1.09 %   1.07 %   1.07 %   0.95 %   1.01 %
    Money market deposit accounts 3.00 %   3.24 %   3.08 %   2.93 %   2.31 %   2.14 %
    Savings accounts 1.42 %   1.64 %   1.67 %   1.37 %   1.16 %   1.14 %
    Time deposits 3.83 %   3.83 %   3.50 %   3.63 %   2.88 %   2.53 %
    Brokered CDs 4.89 %   5.43 %   4.98 %   5.13 %   5.14 %   5.21 %
    Total deposits 1.43 %   1.58 %   1.59 %   1.55 %   1.46 %   1.33 %
                           
    Interest-bearing deposits excluding Brokered CDs 2.80 %   3.02 %   2.88 %   2.74 %   2.16 %   2.00 %
                                       

    (1) Average rate paid is calculated as the weighted average of spot rates on deposit accounts. Off-balance sheet deposits are excluded from all calculations shown.

    Asset Quality

    (In thousands) September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023
    Loans 90 days past due and accruing $ —     $ —     $ —  
    Nonaccrual loans held for sale   989       989       2,189  
    Nonaccrual loans – Commercial   17,108       23,778       28,041  
    Nonaccrual loans – Retail   10,542       10,924       6,283  
    Nonaccrual securities   8       29       31  
    Total nonperforming assets $ 28,647     $ 35,720     $ 36,544  
               
    Nonaccrual loans:          
    Commercial and industrial $ 1,849     $ 8,428     $ 7,575  
    Multifamily   —       —       —  
    Commercial real estate   4,146       4,231       4,575  
    Construction and land development   11,113       11,119       15,891  
    Total commercial portfolio   17,108       23,778       28,041  
               
    Residential real estate lending   7,578       7,756       3,009  
    Consumer solar   2,848       2,794       2,817  
    Consumer and other   116       374       457  
    Total retail portfolio   10,542       10,924       6,283  
    Total nonaccrual loans $ 27,650     $ 34,702     $ 34,324  

    Credit Quality

      September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023
    ($ in thousands)          
    Criticized and classified loans          
    Commercial and industrial $ 45,329     $ 53,940     $ 45,959  
    Multifamily   13,386       10,242       10,999  
    Commercial real estate   8,186       8,311       8,762  
    Construction and land development   11,113       11,119       15,891  
    Residential real estate lending   7,578       7,756       3,009  
    Consumer solar   2,848       2,794       2,817  
    Consumer and other   116       374       457  
    Total loans $ 88,556     $ 94,536     $ 87,894  
    Criticized and classified loans to total loans          
    Commercial and industrial 1.00 %   1.21 %   1.05 %
    Multifamily 0.29 %   0.23 %   0.25 %
    Commercial real estate 0.18 %   0.19 %   0.20 %
    Construction and land development 0.24 %   0.25 %   0.36 %
    Residential real estate lending 0.17 %   0.17 %   0.07 %
    Consumer solar 0.06 %   0.06 %   0.06 %
    Consumer and other — %   0.01 %   0.01 %
    Total loans 1.94 %   2.12 %   2.00 %
      September 30, 2024   June 30, 2024   September 30, 2023
      Annualized net charge-offs (recoveries) to average loans   ACL to total portfolio balance   Annualized net charge-offs (recoveries) to average loans   ACL to total portfolio balance   Annualized net charge-offs (recoveries) to average loans   ACL to total portfolio balance
    Commercial and industrial 2.14 %   1.01 %   0.32 %   1.44 %   — %   1.71 %
    Multifamily — %   0.37 %   — %   0.38 %   0.45 %   0.46 %
    Commercial real estate — %   0.40 %   — %   0.40 %   — %   0.64 %
    Construction and land development — %   3.73 %   — %   3.60 %   — %   3.68 %
    Residential real estate lending (0.03 )%   0.91 %   (0.18 )%   0.88 %   (0.07 )%   1.13 %
    Consumer solar 1.58 %   7.68 %   2.57 %   7.00 %   1.88 %   6.72 %
    Consumer and other 1.05 %   6.44 %   0.01 %   6.49 %   0.04 %   6.00 %
    Total loans 0.61 %   1.35 %   0.25 %   1.42 %   0.27 %   1.60 %

    Reconciliation of GAAP to Non-GAAP Financial Measures
    The information provided below presents a reconciliation of each of our non-GAAP financial measures to the most directly comparable GAAP financial measure.

      As of and for the   As of and for the
      Three Months Ended   Nine Months Ended
    (in thousands) September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023    		   September 30,
    2024    		   September 30,
    2023
    Core operating revenue                  
    Net Interest Income (GAAP) $ 72,107     $ 69,192     $ 63,728     $ 209,336     $ 193,992  
    Non-interest income (GAAP)   8,939       9,258       6,780       28,426       19,930  
    Add: Securities loss   3,230       2,691       1,699       8,695       5,052  
    Less: ICS One-Way Sell Fee Income(1)   (8,085 )     (4,859 )     —       (15,847 )     —  
    Less: Changes in fair value of loans held-for-sale   4,265       —       —       4,265       —  
    Less: Subdebt repurchase gain(2)   (669 )     (406 )     (637 )     (1,076 )     (1,417 )
    Add: Tax (credits) depreciation on solar investments(3)   1,089       1,815       —       1,095       —  
    Core operating revenue (non-GAAP)   80,876       77,691       71,570       234,894       217,557  
                       
    Core non-interest expense                  
    Non-interest expense (GAAP) $ 40,964     $ 39,512     $ 37,339     $ 118,629     $ 113,495  
    Add: Gain on settlement of lease termination(4)   —       —       —       499       —  
    Less: Severance costs(5)   (241 )     (44 )     (332 )     (471 )     (617 )
    Core non-interest expense (non-GAAP)   40,723       39,468       37,007       118,657       112,878  
                       
    Core net income                  
    Net Income (GAAP) $ 27,942     $ 26,753     $ 22,308     $ 81,944     $ 65,284  
    Add: Securities loss   3,230       2,691       1,699       8,695       5,052  
    Less: ICS One-Way Sell Fee Income(1)   (8,085 )     (4,859 )     —       (15,847 )     —  
    Less: Changes in fair value of loans held-for-sale   4,265       —       —       4,265       —  
    Less: Gain on settlement of lease termination(4)   —       —       —       (499 )     —  
    Less: Subdebt repurchase gain(2)   (669 )     (406 )     (637 )     (1,076 )     (1,417 )
    Add: Severance costs(5)   241       44       332       471       617  
    Add: Tax (credits) depreciation on solar investments(3)   1,089       1,815       —       1,095       —  
    Less: Tax on notable items   (19 )     180       (396 )     764       (1,151 )
    Core net income (non-GAAP)   27,994       26,218       23,306       79,812       68,385  
                       
    Tangible common equity                  
    Stockholders’ equity (GAAP) $ 698,332     $ 646,112     $ 546,291     $ 698,332     $ 546,291  
    Less: Minority interest   (133 )     (133 )     (133 )     (133 )     (133 )
    Less: Goodwill   (12,936 )     (12,936 )     (12,936 )     (12,936 )     (12,936 )
    Less: Core deposit intangible   (1,669 )     (1,852 )     (2,439 )     (1,669 )     (2,439 )
    Tangible common equity (non-GAAP)   683,594       631,191       530,783       683,594       530,783  
                       
    Average tangible common equity                  
    Average stockholders’ equity (GAAP) $ 668,401     $ 623,024     $ 538,753     $ 630,866     $ 523,078  
    Less: Minority interest   (133 )     (133 )     (133 )     (133 )     (133 )
    Less: Goodwill   (12,936 )     (12,936 )     (12,936 )     (12,936 )     (12,936 )
    Less: Core deposit intangible   (1,759 )     (1,941 )     (2,547 )     (1,940 )     (2,768 )
    Average tangible common equity (non-GAAP)   653,573       608,014       523,137       615,857       507,241  
                                           

    (1) Included in service charges on deposit accounts in the Consolidated Statements of Income
    (2) Included in other income in the Consolidated Statements of Income
    (3) Included in equity method investments income in the Consolidated Statements of Income
    (4) Included in occupancy and depreciation in the Consolidated Statements of Income
    (5) Included in compensation and employee benefits in the Consolidated Statements of Income

    Reconciliation of GAAP to Non-GAAP Financial Measures
    The information provided below presents a reconciliation of each of our non-GAAP financial measures to the most directly comparable GAAP financial measure.

      As of and for the   As of and for the
      Three Months Ended   Nine Months Ended
    (in thousands) September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023    		   September 30,
    2024    		   September 30,
    2023
                       
    Core return on average assets                  
    Numerator: Core net income (non-GAAP) $ 27,994     $ 26,218     $ 23,306     $ 79,812     $ 68,385  
    Denominator: Total average assets (GAAP) $ 8,393,490     $ 8,276,016     $ 7,904,566       8,249,218       7,841,198  
    Core return on average assets (non-GAAP)   1.33 %     1.27 %     1.17 %     1.29 %     1.17 %
                       
    Core return on average tangible common equity                  
    Numerator: Core net income (non-GAAP) $ 27,994     $ 26,218     $ 23,306     $ 79,812     $ 68,385  
    Denominator: Average tangible common equity (non-GAAP) $ 653,573     $ 608,014     $ 523,137       615,857       507,241  
    Core return on average tangible common equity (non-GAAP)   17.04 %     17.34 %     17.67 %     17.31 %     18.02 %
                       
    Core efficiency ratio                  
    Numerator: Core non-interest expense (non-GAAP) $ 40,723     $ 39,468     $ 37,007     $ 118,657     $ 112,878  
    Denominator: Core operating revenue (non-GAAP)   80,876       77,691       71,570       234,894       217,557  
    Core efficiency ratio (non-GAAP)   50.35 %     50.80 %     51.71 %     50.52 %     51.88 %

    The MIL Network –

  • MIL-OSI Asia-Pac: Mormugao Port Authority recognized globally as an incentive provider on the Environmental Ship Index (ESI) platform

    Source: Government of India

    Mormugao Port Authority recognized globally as an incentive provider on the Environmental Ship Index (ESI) platform

    Mormugao becomes India’s pioneering port to implement Green Ship Incentives under the ESI

    ‘Harit Shrey’ scheme launched in October 2023, offering port fee discounts based on ESI ratings of commercial ships

    The “Harit Shrey” initiative has provided benefits to numerous vessels, encouraging eco-friendly practices

    Posted On: 24 OCT 2024 1:20PM by PIB Delhi

    Mormugao Port Authority has gained global recognition by being listed as an incentive provider on the Environment Ship Index (ESI) portal, acknowledged by the International Association of Ports and Harbours (IAPH). This achievement highlights the port’s commitment to promoting environmentally friendly practices for seagoing vessels.

    Mormugao Port is India’s first port to introduce Green Ship Incentives through the ESI, aligning with global efforts to reduce air emissions in shipping. The port’s incentive program, ‘Harit Shrey,’ launched in October 2023, offers discounts on port charges based on ESI scores, rewarding ships with higher environmental performance.

    In August 2024, the Secretary General of IAPH praised Mormugao Port’s efforts in joining the ESI Programme and raising awareness of green shipping incentives in the region. Mormugao stands out in Asia alongside Japan and Oman, which also offer similar incentives.

    Since the introduction of the “Harit Shrey scheme,” many ships have benefited from the incentives aimed at reducing greenhouse gas emissions. This initiative supports the broader goal of achieving long-term emission reductions in maritime operations. The port authority has also submitted the scheme for the IAPH Sustainability Awards under the World Port Sustainability Programme (WPSP), emphasizing its dedication to sustainable practices.

    This recognition positions Mormugao Port as a key player in advancing sustainable maritime practices, contributing to international efforts in reducing carbon emissions and improving air quality.

    ****

    NKK/AK

    (Release ID: 2067621) Visitor Counter : 92

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Auction for Victoria Park Lunar New Year Fair stalls ends

    Source: Hong Kong Government special administrative region

         â€‹The open auction for stalls at the 2025 Victoria Park Lunar New Year (LNY) Fair concluded today (October 24). The total revenue was $6,728,088.
     
         A spokesman for the Food and Environmental Hygiene Department said that a total of 383 stalls at the Fair, including 158 for regular size dry goods, 46 for large size dry goods, 175 for wet goods and four for fast food, were let out during the three-day open auction.
     
         To summarise the results of the auction held during the past two days (October 23 and 24), the successful bids for the regular size dry goods stalls ranged from $8,540 to $36,000, which averaged out to $11,700. The highest bid of $36,000 was about 4.2 times the opening price of $8,540. The auction of regular dry goods stalls fetched a total of $1,843,850. For the large size dry goods stalls, the successful bids ranged from $12,810 to $41,000, which averaged out to $15,783. The highest bid of $41,000 was about 3.2 times the opening price of $12,810. The auction of large size dry goods stalls fetched a total of $726,040.
     
         The three auction days for the Victoria Park LNY Fair stalls attracted about 1 300 participants in total.
     
         The auction for stalls of the Tat Tung Road Garden LNY Fair in Tung Chung will be held tomorrow (October 25) at Assembly Hall, 2/F, Lai Chi Kok Government Offices, 19 Lai Wan Road, Lai Chi Kok, Kowloon. The auction session is scheduled from 9.30am until completion of the auction.
     
         The auctions for stalls of the LNY fairs in Cheung Sha Wan Playground and Fa Hui Park in Sham Shui Po, Tsz Wan Shan Estate Central Playground in Wong Tai Sin and Kwun Tong Recreation Ground in Kwun Tong will be held at the above-mentioned venue from October 28 to 31. The auction sessions are scheduled from 9am or 9.30am to 12.30pm (AM session) and 2pm until completion of the auction (PM session).
     
         The spokesman reminded the successful bidders to comply with all stipulations and provisions as set out in the licence agreement. Otherwise, the department is entitled to terminate the agreement and the licensee shall immediately vacate the stall.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CFS urges public not to consume a kind of imported corn flour due to detection of excessive tropane alkaloids atropine and scopolamine

    Source: Hong Kong Government special administrative region

    CFS urges public not to consume a kind of imported corn flour due to detection of excessive tropane alkaloids atropine and scopolamine
    CFS urges public not to consume a kind of imported corn flour due to detection of excessive tropane alkaloids atropine and scopolamine
    ******************************************************************************************

         The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department today (October 24) urged the public not to consume a kind of imported corn flour, due to the detection of excessive tropane alkaloids atropine and scopolamine. The trade should stop using or selling the affected batch of the product immediately if they possess it.     Product details are as follows:Product name: Primeal Corn Flour [PRIMEAL FARINE DE MAIS Maismeel] Brand: PrimealPlace of origin: FranceNet weight: 500 grams per packLot number: 630907Best-before date: February 18, 2025Importer: ICOSMOBEAUTY LIMITED     A spokesman for the CFS said, “The CFS received a notification from the Rapid Alert System for Food and Feed of the European Commission that the above-mentioned product is under recall, due to the detection of tropane alkaloids atropine and scopolamine at a level exceeding the relevant limit of France. Investigations by the CFS revealed that the above-mentioned importer had imported into Hong Kong the affected batch of the product concerned.”     For the sake of prudence, the above-mentioned importer has stopped selling and removed from shelves the affected batch of the product upon the CFS’s instructions and has initiated a recall. Members of the public may call the importer concerned at 9214 4287 during office hours for enquiries about the recall.     The spokesman said that consumption of products detected with tropane alkaloids atropine and scopolamine may cause short-term adverse effects, for example, dilated pupils, change of heart rate, dryness of the mouth, and flushed skin. Tropane alkaloids atropine and scopolamine will be excreted from the body and therefore there are no long term health effects.     The spokesman urged the public not to consume the affected batch of the product if they have bought any. The trade should also stop using or selling the affected batch of the product concerned immediately if they possess it.     The CFS will alert the trade, continue to follow up on the incident and take appropriate action. The investigation is ongoing.

     
    Ends/Thursday, October 24, 2024Issued at HKT 19:14

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: California joins federal partners to enhance flood protection and wildlife habitat in Sacramento River Basin

    Source: US State of California 2

    Oct 23, 2024

    What you need to know: State and federal partners today signed a Memorandum of Understanding (MOU) to boost cooperation on multi-benefit water projects in the Sacramento River Basin. 

    SACRAMENTO – Governor Gavin Newsom today highlighted a new agreement between state and federal partners to enhance collaboration on floodplain projects in the Sacramento River Basin that bolster flood protection and habitat for fish and wildlife.
     
    The MOU furthers state-federal coordination on the planning, design and implementation of multi-benefit floodplain projects in the Sacramento River Basin that increase flood protection, restore habitat and ecosystems, improve groundwater recharge and water supply reliability, and sustain farming and managed wetland operations. The agreement is backed by the Floodplain Forward Coalition comprised of landowners, irrigation districts, and higher education and conservation groups.

    “As California grapples with more extreme cycles of wet and dry, it’s more important than ever that we leverage our common interests to meet the needs of our communities, wildlife and economy. This state-federal partnership with support from wide-ranging stakeholders demonstrates the kind of collaborative solutions that can safeguard our communities, wildlife, businesses and water supplies in the face of climate impacts.”

    Governor Gavin Newsom

    The MOU was signed today in Sacramento by representatives from the U.S. Fish and Wildlife Service, U.S. Bureau of Reclamation, U.S. Bureau of Land Management, U.S. Army Corps of Engineers, USDA Natural Resources Conservation Service, California Natural Resources Agency, California Department of Fish and Wildlife, California Department of Food and Agriculture, California Department of Water Resources, and the National Fish and Wildlife Foundation.
     
    Sacramento Valley bypasses are natural overflow areas that are critical to protecting farms, cities and communities from floodwaters. The lowlands also serve as essential habitat for many fish, birds and wildlife, including Chinook salmon, that have historically relied on the basin’s floodplains for food and habitat during their migrations.
     
    More information on the MOU can be found here.

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    MIL OSI USA News –

  • MIL-OSI Global: An Indian village went from hunting Amur falcons to being their biggest protectors. Here’s how conservationists can harness the power of persuasion

    Source: The Conversation – UK – By Diogo Veríssimo, Research Fellow in Conservation Marketing, University of Oxford

    An Amur falcon feeds on flying insects as it migrates across Nagaland, India. Greeneries/Shutterstock

    Wildlife conservation is an exercise in human persuasion. It may seem counterintuitive that we hold the keys to the survival of wildlife, but 98% of all threatened species are threatened exclusively by human activities such as pollution, invasive species or habitat loss.

    Influencing human behaviour to benefit nature is hard, but it can be done. In the case of the Amur falcon, we found that legislation and enforcement were successful at stopping hunting of this migratory raptor and maintaining changes in hunting practices. But the key to success involved fostering local pride in the bird, alongside providing economic incentives.

    The Amur falcon is a bird the size of an apple with a yearly commute from Siberia to Africa and back – the equivalent in total to six trips from London to New York. One key stop in the bird’s journey is the forests of Nagaland in north-east India.

    Since its construction in 2000, an artificial reservoir over Nagaland’s Doyang river has attracted vast numbers of winged termites – in turn increasing the number of Amur falcons stopping to feed on these insects. As the numbers of falcons rose, they became very easy targets for local hunters, for whom wildlife hunting is an integral part of their traditional culture. These birds were hunted for food as well as traded in local markets, earning significant seasonal revenue for the hunters.

    Fast-forward to November 2012. The scale of the hunt at Doyang reservoir, particularly in Pangti village, came to the attention of conservationists like us, who estimated that between 120,000 and 140,000 birds (about 10% of the global adult population) were being caught in only ten days. These birds stopped at the Doyang reservoir to fatten up before their migration to Africa, but were trapped using fishing nets hung across trees.

    A global media campaign was spearheaded by the environmental charity Conservation India. A hard-hitting short film, The Amur Falcon Massacre, was shared online to show the true horror and scale of this hunt. Conservationists tried to leverage India’s membership of the Convention on Migratory Species, and such pressure led to the Indian government making a global commitment to protect species including the Amur falcon.

    The government took swift action. It warned Pangti villagers that unless the hunting stopped, it would cut off funding for crucial development projects. Faced with this threat, the village council imposed a ban on hunting falcons in 2013 – without consulting the broader community.

    That decision was deeply unpopular with local villagers. Falcon hunting had been an important source of income, and many villagers were resistant to the ban. Though the hunting stopped, local trust in the council leadership was low because the ban was seen as authoritarian.

    However, the decision was backed by financial incentives and environmental outreach from charitable organisations and the government’s forest department. This helped reframe the falcons as “honoured guests”, and to connect local people more empathetically with the birds. Hunting was actively discouraged; eventually, it ceased altogether.

    An Amur falcon (Falco amurensis) in flight.
    Touhid biplob/Wikimedia, CC BY-NC-ND

    By 2017, a sense of pride began to grow within the community. Awards and recognition from external bodies, including the Indian government, for Pangti’s conservation efforts helped create a positive image of the village worldwide. The community’s emotional bond with the falcons strengthened. Villagers even held prayers for satellite-tagged falcons before releasing them. Falcon conservation became a symbol of local identity and pride, which helped overcome the initial resistance to the hunting ban.

    This allowed conservation measures to expand. The community outlawed air guns to prevent the hunting of small birds, and extended the hunting ban to cover all wildlife for six months of the year. These actions showed the community wasn’t just enforcing government rules; it was actively creating new conservation initiatives of its own.

    The power of persuasion

    Human actions drive biodiversity outcomes. These can be destructive, like poaching, or protective, like community-led conservation. The end of the indiscriminate killing of the Amur falcon in Nagaland highlights that, while behaviour change can take place in a short period, maintaining it over the long term is often much more challenging.

    For instance, while the initial ban was effective in quickly eliminating hunting, the shift from resistance to pride in falcon conservation took years to fully develop. Sustaining this change has required continuous community engagement and building of pride in the species.

    Visual storytelling – in this case, a film widely shared on social media – can also play a powerful role in turning local issues into global ones. The international attention brought to the unsustainable hunting of the Amur falcon was instrumental in prompting government action. This shows how global media exposure can elevate a local conservation issue, creating a sense of urgency that compels authorities to act.

    However, while media campaigns can quickly drive policy changes, they don’t always lead to lasting behaviour change. Campaigns that rely on shock and urgency may alienate local communities, creating resistance.

    Sustainable behaviour change requires building trust, understanding local values, and supporting community leadership. True change happens when people feel empowered and see benefits from their actions – not simply when they feel pressured to comply.


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

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

    Sahila Kudalkar received funding from the Inlaks Shivdasani Foundation for research on Amur falcon conservation in Nagaland.

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

    – ref. An Indian village went from hunting Amur falcons to being their biggest protectors. Here’s how conservationists can harness the power of persuasion – https://theconversation.com/an-indian-village-went-from-hunting-amur-falcons-to-being-their-biggest-protectors-heres-how-conservationists-can-harness-the-power-of-persuasion-239856

    MIL OSI – Global Reports –

  • MIL-OSI Asia-Pac: Report of Strategic Feasibility Study on the Development of Wetland Conservation Parks System released

    Source: Hong Kong Government special administrative region

         The report of the Strategic Feasibility Study on the Development of the Wetland Conservation Parks (WCPs) System was released today (October 24).  

         The development of a WCPs System was promulgated in the Northern Metropolis Development Strategy in 2021, with a view to conserving the Deep Bay wetlands with ecological value, and creating environmental capacity for the Northern Metropolis to achieve co-existence of conservation and development. The Strategic Feasibility Study on the Development of the WCPs System, commissioned by the Agriculture, Fisheries and Conservation Department (AFCD) in August 2022, had reviewed the ecological conditions, land use and planning matters, aquaculture activities, eco-education and recreation facilities, etc, in the proposed areas of the proposed WCPs System. The Feasibility Study also formulated recommendations on the overall implementation strategy for the development of the WCPs System, including the proposed boundaries, positioning and functions, conceptual plans and management options of the proposed Parks under the System. The consultant also collected views from the public and stakeholders on the initiative through two stages of public engagement exercises, and suitably incorporated such views.

         The Feasibility Study considered that the development of the WCPs System was feasible and worthwhile, which could effectively conserve the wetlands in the Deep Bay area and enhance their ecological value, promote the modernisation of the aquaculture industry, and provide eco-education and recreation facilities for public enjoyment. At the same time, the development of the WCPs System could also create environmental capacity for the development of the Northern Metropolis, and achieve co-existence of conservation and development.

         The Feasibility Study recommended developing the WCPs System in phases by developing the Sam Po Shue WCP first. Subsequently, by making reference to the experience of planning and establishing the Sam Po Shue WCP, further studies on the remaining proposed Parks, i.e. Hong Kong Wetland Park Expansion Area, Nam Sang Wai WCP, and Hoo Hok Wai WCP (including Sha Ling/Nam Hang area), would be reviewed in due course.

         Specific positioning and functions for each Park were recommended by the consultant based on their respective conditions, and broad zonings, including Biodiversity Zone, Eco-friendly Aquaculture Zone, Fisheries Enhancement Zone and Visitor Zone, were delineated under the conceptual plan of each Park. It was recommended that the Government oversee the overall management of the whole WCPs System, and manage the different zones within the Parks in co-operation with different parties, including non-governmental organisations, agriculture and fisheries associations, local communities, private landowners and private sector, depending on the relevant functions and operational needs. 

         A spokesman for the AFCD said that the department considered the recommendations of the report of the Feasibility Study generally acceptable, and these recommendations would be taken into consideration in the next stage when carrying out detailed studies on the investigation, design and construction of the Parks.  

         The report of the Feasibility Study is available on the AFCD website (www.afcd.gov.hk/english/conservation/con_wet/wcps_system/wcps_system.html). 

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Rep. Cuellar Participates in Panel Discussion on Colombia Bridge Expansion and International Trade

    Source: United States House of Representatives – Congressman Henry Cuellar (TX-28)

    LAREDO, TX – Today, Congressman Henry Cuellar (TX-28), Ph.D. participated in a panel discussion hosted by the Laredo Chamber of Commerce in Laredo, TX, on the Colombia Bridge expansion project and international trade.  

    “I’m pleased to have worked with Senator Cruz to include language in the FY24 National Defense Authorization Act (NDAA) to expedite the Presidential permit for the Colombia-Solidarity Bridge expansion project,” said Dr. Cuellar, a senior member of the House Appropriations Committee. “By expanding the bridge from 8 lanes to 16 lanes, this project will improve our supply chain, reduce congestion, and provide economic growth. I am thankful to the Laredo Chamber of Commerce for hosting this discussion on the Colombia Bridge expansion project and to Senator Cruz, Mayor Victor Trevino, City Manager Joseph Neeb, and Governor Samuel Garcia for being here today to discuss this important project.”  

    The panel discussion included panelists Rep. Cuellar, City of Laredo Mayor Victor Trevino, Senator Cruz, and Nuevo León Governor Samuel Garcia. The discussion covered the importance of the Colombia Bridge expansion project, trade between the United States and Mexico, and other developments impacting commerce in the district.  

    Presidential permits are required for construction projects at border crossings. Obtaining a permit currently requires an environmental review, which often takes years to complete. Dr. Cuellar’s language would direct the President to issue conditional permits for projects while environmental reviews required under the National Environmental Policy Act (NEPA) are ongoing. 

    Dr. Cuellar has long worked to streamline the Presidential permitting process for border bridges. As a senior member of the House Appropriations Committee, Dr. Cuellar secured language to reform the Presidential permit process for border bridges in the Fiscal Year 2024 State, Foreign Operations, and Related Programs House appropriations bill, which would expedite the Colombia-Solidarity expansion project in Laredo. 

    The National Defense Authorization Act (NDAA) is an annual law specifying the budget and expenditures for the U.S. Department of Defense. 

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: NJBPU Announces Adoption of Minimum Filing Requirements for Medium-and-Heavy-Duty Electric Vehicles

    Source: US State of New Jersey

    TRENTON – The New Jersey Board of Public Utilities (NJBPU) announced on Wednesday the adoption of minimum filing requirements (MFRs) that direct the state’s investor-owned electric distribution companies (EDCs) to propose programs to expand charging access for medium-and-heavy-duty (MHD) electric vehicles (EVs) and fleets. The expansion of New Jersey’s EV charging ecosystem will catalyze the ongoing clean transition of the state’s fleet, yielding significant greenhouse gas (GHG) emissions reductions within the state’s transportation sector and improving localized air quality.

    New Jersey’s transportation sector accounts for nearly 40% of the state’s net GHG emissions, with MHD trucks and busses emitting an outsized share of those emissions. Low-income neighborhoods and communities of color are more likely to be exposed to these pollutants due to their disproportionate proximity to freight corridors, ports, and distribution centers. The adopted MFRs allow utilities to provide additional “bonus” incentives for overburdened municipalities and overburdened communities adjacent to Freight EV Corridors, as well as small businesses.

    “Today’s announcement by the BPU is a key part of my Administration’s whole-of-government approach to reducing harmful emissions from the transportation sector that negatively impact the health of our residents,” said Governor Phil Murphy. “Along with New Jersey’s action on Advanced Clean Trucks and the Clean Corridors Coalition, we are building a robust charging infrastructure for a clean transportation future.”

    “Under Governor Murphy’s leadership and in coordination with New Jersey’s EDCs, the NJBPU remains at the forefront of advancing smart, clean transportation initiatives and infrastructure that provide considerable health and environmental benefits,” said NJBPU President Christine Guhl-Sadovy. “These benefits are especially vital to the overburdened communities that have borne the brunt of air pollution and its health effects for far too long.”

    The MFRs will allow EDCs to propose incentives for the “Make Ready” chargers for public-serving fleets and certain private fleets located in or serving overburdened municipalities and overburdened communities adjacent to Freight EV Corridors.

    To ensure that MHD EV charging is built in scalable ways that take capacity into account, the MFRs will connect applicants to utilities and require that utilities create and update capacity maps demonstrating where the grid is capable of supporting MHD charging. In addition, they provide the framework for proactive planning for public charging stations over 500 kW, fleets, and multi-unit dwellings. These planning and technical services will help ensure that these projects are connecting with utilities early and often, allowing for better grid planning and accelerating this critical piece of the 2019 Energy Master Plan.

    The MFRs also require that EDCs create managed charging programs to balance the demand on the grid and encourage users to charge at night.

    The adopted MFRs build upon the Murphy Administration’s ongoing efforts to promote clean transportation and expand EV charging infrastructure across the state. EDCs will be required to file their proposed programs with the Board within 120 days of the Order.

    In July, the U.S. Environmental Protection Agency announced the selection of the Clean Corridor Coalition, led by the New Jersey Department of Environmental Protection, to receive a nearly $250 million Climate Pollution Reduction Grant. The Clean Corridor Coalition – which includes the Connecticut Department of Energy and Environmental Protection, the Delaware Department of Transportation, and the Maryland Departments of the Environment and Transportation – aims to deploy EV charging infrastructure for commercial zero-emission MHD vehicles along the Interstate-95 freight corridor.

    On Wednesday, the U.S. EPA and NJDEP announced the arrival of this historic funding at the Vince Lombardi Service Area in Ridgefield, New Jersey.

    About New Jersey’s Clean Energy Program (NJCEP)
    NJCEP, established on January 22, 2003, in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the State’s residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers’ energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is www.NJCleanEnergy.com.

    About the New Jersey Board of Public Utilities (NJBPU) 
    NJBPU is a state agency and regulatory authority mandated to ensure safe, adequate and proper utility services at reasonable rates for New Jersey customers. Critical services regulated by NJBPU include natural gas, electricity, water, wastewater, telecommunications and cable television. The Board has general oversight and responsibility for monitoring utility service, responding to consumer complaints, and investigating utility accidents. To find out more about NJBPU, visit our website at www.nj.gov/bpu.

    MIL OSI USA News –

  • MIL-OSI USA: Helping Students Enroll at Public Colleges and Universities

    Source: US State of New York

    Governor Kathy Hochul today announced the launch of the SUNY Top 10% Promise Program, creating a direct pathway for the highest-achieving New York high school seniors to gain admission and enroll at select SUNY colleges and universities. Governor Hochul first announced this plan as a part of her 2024 State of the State to help more New York students benefit from SUNY’s unparalleled combination of accessibility, affordability, and academic excellence.

    “Access to higher education has the potential to transform New Yorkers’ lives and change the trajectory of a student’s life,” Governor Hochul said. “Offering New York students graduating in the top 10 percent of their class direct admission to SUNY campuses will help reduce barriers to higher education while ensuring our students can continue their education and pursue their dreams right here in New York State.”

    The Top 10% Promise is a direct-admissions program that automatically grants acceptance to graduating high school students whose GPAs are in the top 10 percent of their class and meet specific academic readiness criteria to at least one selective, world-class SUNY campus. The program will take effect for select high school seniors preparing to enroll for the Fall 2025 semester.

    The nine initial participating campuses are: University at Albany, University at Buffalo, SUNY College of Environmental Science and Forestry, SUNY Geneseo, SUNY New Paltz, SUNY Oneonta, SUNY Polytechnic Institute, Purchase College, and Stony Brook University.

    Students in all New York State school districts will be eligible to participate when the SUNY Top 10% Promise is fully in place. In the first year, 68 school districts (and individual charter schools) from across the state were invited to participate based on serving rural, urban, and suburban communities with high levels of adversity or enrolling a significant share of students from low-income backgrounds. The initial participating high schools are representative of the diversity of New York State.

    This builds on Governor Hochul’s continued efforts to expand access to higher education and make college more affordable. Earlier this month, Governor Hochul announced that following the increase in income thresholds secured in the FY25 Enacted Budget, more than 40,000 newly eligible New York State students have already submitted Tuition Assistance Program applications for the 2024-25 academic year. Additionally, the Governor announced last week that SUNY, CUNY and over 50 private colleges and universities throughout New York State have come together to offer free application opportunities for high school seniors starting this week.

    There is substantial evidence that high-achieving, low-income students apply to, and end up attending, less selective postsecondary institutions at higher rates than their higher income peers. Several states, including Texas and California, also offer direct admissions to the highest-achieving students, and have found this policy advances equity in their university systems. In California, for example, where students must also complete a college-ready curriculum to be eligible for the UC system, the admissions guarantee increased enrollment in selective universities for underrepresented students, increased graduation rates, and increased post-graduation earnings. 

    SUNY Chancellor John B. King Jr. said, “There is a place at SUNY for every New Yorker, and The SUNY Top 10% Promise will make it even easier for our highest-achieving high school students – particularly those from low-income backgrounds – to discover SUNY’s extraordinary value and academic excellence. With thanks to Governor Hochul for her leadership, this new direct admission program will advance educational equity and open the doors to higher education even wider.”

    State Senator Toby Ann Stavisky said, “Students who graduate in the top 10% of their high school class have demonstrated the ability to attend college. These are the future leaders of New York, and by offering direct admission we can help ensure they get the quality education they need to reach their full potential. This program will provide more opportunities for deserving students by providing a seamless entry to SUNY.”

    Assemblymember Patricia Fahy said, “The SUNY Top 10% program will provide top-performing students at select school districts direct admission top SUNY institutions they might not otherwise apply to. This is part of our ongoing commitment to revitalizing higher education and expanding access for more high school students. Coupled with our investments in Turning on the TAP in this year’s state budget, we’re paving the way for more students to finally achieve their dream of securing a higher education.”

    The Institute for College Access & Success Senior Director of New York Policy and Advocacy at Kirsten Keefe, J.D. said, “TICAS applauds Governor Hochul and Chancellor King for their leadership, helping to ensure that students across New York understand that college is a viable option for them. Alongside existing efforts to address financial need and offer students the supports they need to graduate, today’s announcement demonstrates how SUNY is helping to advance racial equity and economic mobility in the Empire State.”

    President of Complete College America Yolanda Watson Spiva said, “Among the first steps to earning a degree or credential of value is ensuring that every student has a clear path to and through higher education. The State of New York and SUNY, a committed and active member of the Complete College America Alliance since joining just under a year ago, have demonstrated their unwavering commitment to increasing the number of New Yorkers completing college, regardless of economic status. The Top 10% Promise Program is an important part of the larger fabric of efforts the system is making to create viable postsecondary pathways for every learner in the state.”

    Northeast Regional Director at Young Invincibles Sean Miller said, “The SUNY Top 10% Promise Program provides a vital opportunity for promising students, especially those from low-income backgrounds, to enroll and thrive at SUNY campuses. Using cumulative GPA, the most accurate measure of college preparedness, and automatically accepting students removes major financial and administrative barriers to being accepted at these superb state schools. Young Invincibles NY and our student network applaud SUNY Chancellor John B. King Jr. and Governor Hochul for launching this initiative—a significant milestone in expanding higher education access, equity, and economic mobility in New York.”

    About The State University of New York

    The State University of New York is the largest comprehensive system of higher education in the United States, and more than 95 percent of all New Yorkers live within 30 miles of any one of SUNY’s 64 colleges and universities. Across the system, SUNY has four academic health centers, five hospitals, four medical schools, two dental schools, a law school, the country’s oldest school of maritime, the state’s only college of optometry, and manages one US Department of Energy National Laboratory. In total, SUNY serves about 1.4 million students amongst its entire portfolio of credit- and non-credit-bearing courses and programs, continuing education, and community outreach programs. SUNY oversees nearly a quarter of academic research in New York. Research expenditures system-wide are nearly $1.1 billion in fiscal year 2023, including significant contributions from students and faculty. There are more than three million SUNY alumni worldwide, and one in three New Yorkers with a college degree is a SUNY alum. To learn more about how SUNY creates opportunities, visit their website here.

    MIL OSI USA News –

  • MIL-OSI Economics: The Managing Director’s Global Policy Agenda, Annual Meeting 2024: Secure A Soft Landing And Break From The Low Growth–High Debt Path

    Source: International Monetary Fund

    Summary

    The global economy has proven resilient, and a soft landing is within reach. Inflation has moderated thanks to tight monetary policy and fading supply shocks, and growth is expected to remain steady. But uncertainty remains significant, with risks tilted to the downside; medium-term growth prospects are lackluster; public debt has reached record highs and is expected to approach 100 percent of GDP by 2030; and geoeconomic fragmentation threatens to undo decades of gains from cross-border economic integration. At the same time, transformative changes—the green transition, demographic shifts, and digitalization, including artificial intelligence—are poised to reshape the global economy, creating challenges but also opportunities. Against this background, the key policy priorities are to secure a soft landing and break from the low growth-high debt path, and address other medium-term challenges. Monetary policy should ensure inflation returns durably to the target, and fiscal policy needs to decisively pivot toward consolidation to rebuild buffers and safeguard debt sustainability. Growth-enhancing reforms are urgently needed to lift growth prospects by boosting investment, job creation, and productivity. Domestic policies must be complemented by multilateral efforts to support countries with debt vulnerabilities, protect gains from economic integration, accelerate climate action, and harness benefits of new technologies while mitigating the risks. As it has done since its founding 80 years ago, the IMF will continue to adapt to serve its members with tailored policy advice, financial lifelines when needed, and capacity development. The Fund will remain a strong advocate for multilateralism and economic integration as foundations on which to build a resilient and inclusive global economy.

    Subject: Artificial intelligence, Balance of payments, Capital flows, Climate change, Credit, Debt sustainability, Digitalization, Environment, External debt, Fiscal policy, Inflation, Money, Poverty, Poverty reduction strategy, Prices, Revenue mobilization, Technology

    Keywords: Republic of, Advanced Economies, Artificial intelligence, Artificial intelligence, Capital flows, Capital flows, Climate change, Climate change, Credit, Debt sustainability, Debt sustainability, Digitalization, Digitalization, Economic integration, Economic integration, Global, Growth, Inflation, Inflation, Integrated Policy Framework, Integrated Policy Framework, Moldova, Poverty reduction strategy, Poverty reduction strategy, Reforms, Revenue mobilization, Revenue mobilization, Senegal

    MIL OSI Economics –

  • MIL-Evening Report: Want to build healthier cities? Make room for bird and tree diversity

    Source: The Conversation (Au and NZ) – By Rachel Buxton, Assistant Professor, Department of Biology, Carleton University

    More than five million Canadians — approximately one in eight of us — are living with a mood, anxiety or substance use disorder. The prevalence of mental disorders is on the rise, with a third of those with a disorder reporting unmet or partially met needs for mental health-care services.

    The stresses of the city, where more than 70 per cent of Canadians now live, can increase the risk of poor mental health even further.

    When most people think about caring for their mental health, they may think about getting more exercise, getting more sleep and making sure they’re eating healthy. Increasingly, research is showing that spending time in nature surrounded by plants and wildlife can also contribute to preventing and treating mental illness.

    Our research focuses on the importance of birds and trees in urban neighbourhoods in promoting mental well-being. In our study, we combined more than a decade of health and ecological data across 36 Canadian cities and found a positive association between greater bird and tree diversity and self-rated mental health.

    The well-being benefits of healthy ecosystems will probably not come as a great surprise to urban dwellers who relish days out in the park or hiking in a nearby nature reserve. Still, the findings of our study speak to the potential of a nature-based urbanism that promotes the health of its citizens.



    Read more:
    How the health of honeybee hives can inform environmental policies in Canadian cities

    Birds, trees and human connection

    Across cultures and societies, people have strong connections with birds. The beauty of their bright song and colour have inspired art, music and poetry. Their contemporary cultural relevance has even earned them an affectionate, absurdist internet nickname: “birbs”.

    There’s something magical about catching a glimpse of a bird and hearing birdsong. For many urbanites, birds are our daily connection to wildlife and a gateway to nature. In fact, even if we don’t realize it, humans and birds are intertwined. Birds provide us with many essential services — controlling insects, dispersing seeds and pollinating our crops.

    People have similarly intimate connections with trees. The terms tree of life, family trees, even tree-hugger all demonstrate the central cultural importance trees have in many communities around the world. In cities, trees are a staple of efforts to bring beauty and tranquility.

    When the Australian city of Melbourne gave urban trees email addresses for people to report problems, residents responded by writing thousands of love letters to their favourite trees. Forest bathing, a practice of being calm and quiet among trees, is a growing wellness trend.

    Birds and trees as promoters of urban wellness

    Contact with nature and greenspace have a suite of mental health benefits.

    Natural spaces reduce stress and offer places for recreation and relaxation for urban dwellers, but natural diversity is key. A growing amount of research shows that the extent of these benefits may be related to the diversity of different natural features.

    For example, in the United States, higher bird diversity is associated with lower hospitalizations for mood and anxiety disorders and longer life expectancy. In a European study, researchers found that bird diversity was as important for life satisfaction as income.

    People’s connection to a greater diversity of birds and trees could be because we evolved to recognize that the presence of more species indicates a safer environment — one with more things to eat and more shelter. Biodiverse environments are also less work for the brain to interpret, allowing restoration of cognitive resources.

    To explore the relationship between biodiversity and mental health in urban Canada, we brought together unique datasets. First, we collected bird data sourced from community scientists, where people logged their bird sightings on an app. We then compared this data with tree diversity data from national forest inventories.

    Finally, we compared both of these data sets to a long-standing health survey that has interviewed approximately 65,000 Canadians each year for over two decades.

    We found that living in a neighbourhood with higher than average bird diversity increased reporting of good mental health by about seven per cent. While living in a neighbourhood with higher than average tree diversity increased good mental health by about five per cent.

    Importance of urban birds and trees

    The results of our study, and those of others, show a connection between urban bird and tree diversity, healthy ecosystems and people’s mental well-being. This underscores the importance of urban biodiversity conservation as part of healthy living promotion.

    Protecting wild areas in parks, planting pollinator gardens and reducing pesticide use could all be key strategies to protect urban wildlife and promote people’s well-being. Urban planners should take note.



    Read more:
    Eco-anxiety: climate change affects our mental health – here’s how to cope

    We’re at a critical juncture: just as we are beginning to understand the well-being benefits of birds and trees, we’re losing species at a faster rate than ever before. It’s estimated that there are three billion fewer birds in North America compared to the 1970s and invasive pests will kill 1.4 million street trees over the next 30 years.

    By promoting urban biodiversity, we can ensure a sustainable and healthy future for all species, including ourselves.

    Rachel Buxton receives funding from Natural Sciences and Engineering Research Council of Canada, National Institutes of Health, and Environment and Climate Change Canada.

    Emma J. Hudgins received funding from the Natural Sciences and Engineering Research Council of Canada and the Fonds de Recherche du Québec – Nature et Technologies for this work. She currently receives funding from Plant Health Australia.

    Stephanie Prince Ware has received funding from the Canadian Institutes of Health Research.

    – ref. Want to build healthier cities? Make room for bird and tree diversity – https://theconversation.com/want-to-build-healthier-cities-make-room-for-bird-and-tree-diversity-235379

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Want to build healthier cities? Make room for bird and tree diversity

    Source: The Conversation – Canada – By Rachel Buxton, Assistant Professor, Department of Biology, Carleton University

    More than five million Canadians — approximately one in eight of us — are living with a mood, anxiety or substance use disorder. The prevalence of mental disorders is on the rise, with a third of those with a disorder reporting unmet or partially met needs for mental health-care services.

    The stresses of the city, where more than 70 per cent of Canadians now live, can increase the risk of poor mental health even further.

    When most people think about caring for their mental health, they may think about getting more exercise, getting more sleep and making sure they’re eating healthy. Increasingly, research is showing that spending time in nature surrounded by plants and wildlife can also contribute to preventing and treating mental illness.

    Our research focuses on the importance of birds and trees in urban neighbourhoods in promoting mental well-being. In our study, we combined more than a decade of health and ecological data across 36 Canadian cities and found a positive association between greater bird and tree diversity and self-rated mental health.

    The well-being benefits of healthy ecosystems will probably not come as a great surprise to urban dwellers who relish days out in the park or hiking in a nearby nature reserve. Still, the findings of our study speak to the potential of a nature-based urbanism that promotes the health of its citizens.



    Read more:
    How the health of honeybee hives can inform environmental policies in Canadian cities

    Birds, trees and human connection

    Across cultures and societies, people have strong connections with birds. The beauty of their bright song and colour have inspired art, music and poetry. Their contemporary cultural relevance has even earned them an affectionate, absurdist internet nickname: “birbs”.

    There’s something magical about catching a glimpse of a bird and hearing birdsong. For many urbanites, birds are our daily connection to wildlife and a gateway to nature. In fact, even if we don’t realize it, humans and birds are intertwined. Birds provide us with many essential services — controlling insects, dispersing seeds and pollinating our crops.

    People have similarly intimate connections with trees. The terms tree of life, family trees, even tree-hugger all demonstrate the central cultural importance trees have in many communities around the world. In cities, trees are a staple of efforts to bring beauty and tranquility.

    When the Australian city of Melbourne gave urban trees email addresses for people to report problems, residents responded by writing thousands of love letters to their favourite trees. Forest bathing, a practice of being calm and quiet among trees, is a growing wellness trend.

    Birds and trees as promoters of urban wellness

    Contact with nature and greenspace have a suite of mental health benefits.

    Natural spaces reduce stress and offer places for recreation and relaxation for urban dwellers, but natural diversity is key. A growing amount of research shows that the extent of these benefits may be related to the diversity of different natural features.

    For example, in the United States, higher bird diversity is associated with lower hospitalizations for mood and anxiety disorders and longer life expectancy. In a European study, researchers found that bird diversity was as important for life satisfaction as income.

    People’s connection to a greater diversity of birds and trees could be because we evolved to recognize that the presence of more species indicates a safer environment — one with more things to eat and more shelter. Biodiverse environments are also less work for the brain to interpret, allowing restoration of cognitive resources.

    To explore the relationship between biodiversity and mental health in urban Canada, we brought together unique datasets. First, we collected bird data sourced from community scientists, where people logged their bird sightings on an app. We then compared this data with tree diversity data from national forest inventories.

    Finally, we compared both of these data sets to a long-standing health survey that has interviewed approximately 65,000 Canadians each year for over two decades.

    We found that living in a neighbourhood with higher than average bird diversity increased reporting of good mental health by about seven per cent. While living in a neighbourhood with higher than average tree diversity increased good mental health by about five per cent.

    Importance of urban birds and trees

    The results of our study, and those of others, show a connection between urban bird and tree diversity, healthy ecosystems and people’s mental well-being. This underscores the importance of urban biodiversity conservation as part of healthy living promotion.

    Protecting wild areas in parks, planting pollinator gardens and reducing pesticide use could all be key strategies to protect urban wildlife and promote people’s well-being. Urban planners should take note.



    Read more:
    Eco-anxiety: climate change affects our mental health – here’s how to cope

    We’re at a critical juncture: just as we are beginning to understand the well-being benefits of birds and trees, we’re losing species at a faster rate than ever before. It’s estimated that there are three billion fewer birds in North America compared to the 1970s and invasive pests will kill 1.4 million street trees over the next 30 years.

    By promoting urban biodiversity, we can ensure a sustainable and healthy future for all species, including ourselves.

    Rachel Buxton receives funding from Natural Sciences and Engineering Research Council of Canada, National Institutes of Health, and Environment and Climate Change Canada.

    Emma J. Hudgins received funding from the Natural Sciences and Engineering Research Council of Canada and the Fonds de Recherche du Québec – Nature et Technologies for this work. She currently receives funding from Plant Health Australia.

    Stephanie Prince Ware has received funding from the Canadian Institutes of Health Research.

    – ref. Want to build healthier cities? Make room for bird and tree diversity – https://theconversation.com/want-to-build-healthier-cities-make-room-for-bird-and-tree-diversity-235379

    MIL OSI – Global Reports –

  • MIL-OSI Global: Tiny airborne particles within air pollution could be a silent killer – new study uncovers hidden risks and reveals who’s most at risk in New York state

    Source: The Conversation – USA – By Shao Lin, Professor of Public Health, University at Albany, State University of New York

    Ultrafine particles stem from a variety of natural and human-made sources, including vehicle exhaust. Joe Raedle/Getty Images

    Long-term high ultrafine particle concentrations in New York state neighborhoods are linked to higher numbers of deaths. That is the key finding of our new research, published in the Journal of Hazardous Materials.

    Our study shows that high levels of ultrafine particles in the atmosphere over long periods of time are significantly associated with increased non-accidental deaths, particularly from cardiovascular and respiratory diseases.

    Ultrafine particles are aerosols less than 0.1 micrometers, or 100 nanometers, in diameter — about one-thousandth the width of a human hair. Due to their tiny size, they can be easily inhaled into the distal branches of lungs, quickly absorbed into the bloodstream and even pass through organ barriers.

    We also found that certain underserved populations, including Hispanics, non-Hispanic Black people, children under 5, older adults and non-New York City residents, are more susceptible to the adverse effects of ultrafine particles. The disparities our study uncovered underscore the necessity for public health agencies to focus on and protect high-risk populations.

    We quantified the long-term health impacts of exposure to these pollutants by combining mortality data from vital records in New York state and using a model that tracks how particles move and change through the air.

    Because ultrafine particles are so small, they are difficult to study, and more research is needed to determine how unsafe they are.

    Why it matters

    Air pollution is now ranked the second-leading risk factor for death, accounting for about 8.1 million deaths globally and about 600,000 deaths in the United States in 2021.

    Most air pollution standards and regulations have been focused on larger particulate matter, such as PM2.5 – which includes organic compounds and metal particulates – and PM10, a category that includes dust, pollen and mold.

    In comparison, ultrafine particles are typically much greater in number and have a much larger surface area-to-volume ratio, allowing them to carry substantial amounts of hazardous metals and organic compounds. Furthermore, because of their smaller size, ultrafine particles can follow the air flow and get deep into the lungs when inhaled. These unique characteristics make ultrafine particles particularly dangerous, leading to a range of adverse health problems.

    Despite this understanding, ultrafine particles remain largely unregulated, while larger particulates are regulated under the National Ambient Air Quality Standards.

    Due to their unique characteristics, ultrafine particles require additional, tailored attention.

    Ultrafine particles, not shown, are about one-thousandth the width of a human hair.
    U.S. Environmental Protection Agency

    Ultrafine particles stem from both natural sources and human activity – primarily from combustion processes such as motor vehicles, power plants, wood burning and wildfires. A large share of ultrafine particles is created by chemical reactions in the atmosphere involving acidic gases from fossil fuel burning and ammonia from farming and residential wastes.

    As cities continue to expand and urban populations grow, people’s exposure to these harmful particles is likely to increase. Both PM2.5 and ultrafine particles come from similar sources and can also form through chemical reactions in the atmosphere, but their trends diverge.

    PM2.5 mass has been declining in many places, including New York, thanks to air quality regulations. However, recent research suggests that ultrafine particle numbers are not going down and have been increasing since 2017.

    What still isn’t known

    There are currently no large-scale monitoring sites in the U.S. dedicated to tracking ultrafine particles in the environment. This limits the ability of researchers like us to comprehend the extent of ultrafine particle exposure and its impact on public health.

    What’s more, the exact biological mechanisms through which ultrafine particles cause harm are not yet fully understood. Increasing research evidence suggests that ultrafine particles can affect heart function, causing hardening of arteries, lung inflammation and systemic inflammation.

    There have been few prior studies looking at death rates related to ultrafine particle exposure by demographics and seasonality. By understanding which groups are most vulnerable to ultrafine particle exposure, interventions can be more effectively tailored to lower the risks and protect those who are disproportionately affected. Our study, which is funded by the New York State Energy Research and Development Authority, helps fill in these critical knowledge gaps.

    The Research Brief is a short take on interesting academic work.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Tiny airborne particles within air pollution could be a silent killer – new study uncovers hidden risks and reveals who’s most at risk in New York state – https://theconversation.com/tiny-airborne-particles-within-air-pollution-could-be-a-silent-killer-new-study-uncovers-hidden-risks-and-reveals-whos-most-at-risk-in-new-york-state-236299

    MIL OSI – Global Reports –

  • MIL-OSI Europe: Corruption risk assessment in focus of OSCE seminar in Turkmenistan

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Corruption risk assessment in focus of OSCE seminar in Turkmenistan

    Participants during an OSCE-organized seminar on interagency co-operation and co-ordination in corruption risk assessment, Ashgabat, 23 October 2024, OSCE (OSCE) Photo details

    Interagency co-operation and co-ordination in corruption risk assessment and implementation of the United Nations Convention Against Corruption’s (UNCAC) were addressed at an OSCE-organized seminar that took place in Ashgabat on 23 and 24 October 2024.
    The seminar presented best practices of OSCE participating States in strengthening inter-agency co-operation in preventing and combating corruption.
    An international expert from Moldova provided the participants with a comprehensive overview of the principles and requirements of the United Nations Convention against Corruption and of the process of self-assessment of the implementation of the Convention.
    “Corruption, as a key threat to good governance, democratic processes and fair business practices, also poses a major impediment to progress in trade and connectivity,” said Olivera Zurovac-Kuzman, Economic and Environmental Officer of the OSCE Centre in Ashgabat.
    “The OSCE Centrе in Ashgabat is actively collaborating with the Government of Turkmenistan on anti-corruption and related issues and stands ready to support efforts to improve public administration, promote transparency and accountability, and foster inter-agency co-operation and co-ordination in preventing and combating corruption,” stressed Zurovac-Kuzman.
    Participants shared their views on how to enhance inter-agency co-operation and co-ordination of actions on key areas of the UN Convention against Corruption and examined parallel financial investigations as a tool to counteract and fight corruption. Special attention was paid to identification, tracing and seizure of criminal assets, pre-seizure planning and management of seized and confiscated assets.
    The two-day event brought together representatives of Ministry of Finance and Economy Turkmenistan, Ministry of Adalat (Justice), State Customs Service, Central Bank, and Mejlis (Parliament), as well as the Union of Industrialists and Entrepreneurs and other relevant institutions.

    MIL OSI Europe News –

  • MIL-OSI: Drones Driven by A.I. Are Taking Over Major Industries Including Agriculture, Construction, Military & More

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Oct. 24, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Artificial intelligence (AI) and drones are a formidable combo that has the potential to transform a variety of industries. When coupled, they build intelligent and autonomous airborne systems capable of completing complicated tasks in a variety of conditions. Because of this, the combination of artificial intelligence and drone technology offers new aerial technological developments for various industries, including agriculture, construction, energy, and security, as well as a solution to many aerial imagery demands. Factors such as technological advancements, growing need for automation and efficiency, and the increasing adoption of drones in the Logistics and Delivery, Agriculture and Precision Farming, Disaster Management and Search & Rescue, Environmental Monitoring and Industrial sectors are boosting the adoption of AI solutions in the UAV landscape. A report from Knowledge Sourcing Intelligence projected that the Artificial Intelligence in drone market size is projected to show steady growth during the forecast period (2024-2029). The report said: “Booming drone adoption in the sector boosts AI in drone market growth. Drones driven by AI are taking over major sectors such as agriculture, serving as industrious field workers. They minimize human effort while monitoring crop health, accurately locating pests, and applying irrigation to maximize production and optimize resource use. The movement known as “precision agriculture” is revolutionizing the way of raising food. According to the January 2022 Press Release Bureau, the government is extending financial support under the “Sub-Mission on Agriculture Mechanization” to encourage the use of drones in agriculture. The Agriculture Ministry will give agricultural institutions grants of up to Rs. 10 lakhs so the farmers can buy drones. When it comes to drone demonstrations on farmer fields Farmer’s Producers Organizations (FPOs) can receive funds for up to 75% of the total cost of the drone. The initiatives and factors supporting agriculture enhance the drone market.” Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Palantir Technologies Inc. (NYSE: PLTR), QUALCOMM Incorporated (NASDAQ: QCOM), AgEagle Aerial Systems Inc. (NYSE: UAVS), Draganfly Inc. (NASDAQ: DPRO).

    “The growing need for automation in logistics propels AI in drone market. Industries these days need effective and automated ways to handle logistics jobs. Drones and AI together present an attractive alternative for companies looking to increase productivity and accuracy as they save labor expenses and increase productivity by automating operations that were previously done by hand. By the end of 2024, Prime Air plans to expand internationally into Italy and the UK, in addition to starting drone deliveries in the United States. Similarly, in October 2023, Amazon Pharmacy launched drone delivery of pharmaceuticals. Eligible consumers in College Station, Texas, can now have their drugs delivered to their homes via drone within 60 minutes of placing their purchase with Amazon Pharmacy.”

    ZenaTech Inc. (NASDAQ:ZENA) Issues Big Development News Today on Adding Patent Assets to the Company – Get the full details by visiting: https://www.financialnewsmedia.com/news-zena/

    Additional Groundbreaking ZenaTech Inc. Developments this week include:

    ZenaTech Announced a Software Company Acquisition Adding Significant Capabilities to Building AI Drones – ZenaTech also announced that it has entered into an agreement to acquire ZooOffice Inc., the holding company for software companies Jadian and DeskFlex, from ZenaTech’s former parent company. The acquisition of these two software companies will provide important compliance and inspection software as well as scheduling and mapping software that will be incorporated into ZenaTech’s ZenaDrone AI drone solutions. This transaction further expands ZenaTech’s portfolio of SaaS software solutions and customer base and is expected to add to recurring revenue in the government sector among others. The acquisition is subject to shareholder and regulatory approvals that may be required.

    “Adding Jadian and DeskFlex software capabilities to the ZenaTech portfolio is part of our strategy to offer full stack, integrated AI drone solutions targeted to multiple sectors such as Agriculture. Jadian’s compliance software will be integrated with ZenaDrone drone hardware and sensors to help farmers track and manage regulatory and environmental requirements such as crop traceability, fertilizer and pesticide use, water conservation, and greenhouse gas emissions. Deskflex scheduling and mapping software will add value integrated into our property management sector solutions,” said CEO Shaun Passley, Ph.D. Read this full release at: https://finance.yahoo.com/news/zenatech-announces-software-company-acquisition-113000656.html

    Other recent developments in the technology industry include:

    Edgescale AI Inc. and Palantir Technologies Inc. (NYSE: PLTR) recently announced a strategic partnership to deliver Live Edge, a groundbreaking combination of Palantir Edge AI and Edgescale AI distributed infrastructure technology, designed to operationalize artificial intelligence (AI) in manufacturing, utilities, and other complex industrial environments.

    AI is reshaping the world and transforming our relationship with technology, yet applying AI to operational technology in industries and critical infrastructure remains a challenge. So long as the complexity and operational burden of activating machines, equipment, vehicles, and sensors in physical systems remains high, we only achieve a fraction of AI’s true potential for automating our technology and improving our lives.

    QUALCOMM Incorporated (NASDAQ: QCOM) recently announced that, through its subsidiary Qualcomm Technologies, Inc., Aramco, and Saudi Arabia’s Research, Development and Innovation Authority (RDIA) are planning to launch Design in Saudi Arabia (DISA). DISA is envisaged to be an incubator program for Saudi Arabia that aims to support startups that are adopting AI, Internet of Things (IoT), and wireless technologies for industrial use cases.

    This initiative aims to support early-stage startups in the high-tech sector by guiding them from product design and development to commercialization. It aims to provide a comprehensive suite of support that includes technical assistance, business coaching, and intellectual property (IP) training, all aimed at enhancing the Kingdom’s technology ecosystem. Should this initiative materialize, startups would gain access to resources such as Qualcomm Technologies and Aramco’s industrial experience and RDIA’s strategic guidance.

    AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, recently issued a Letter to Stockholders from Company CEO Bill Irby.

    Dear Stockholders: First, I want to extend my appreciation for the trust and confidence you have placed in AgEagle. Upon taking over as CEO from Grant Begley (former interim CEO and current Board Chairman), we have been evolving and advancing AgEagle toward the creation of maximum long-term shareholder value.

    To fund our aggressive growth plans, we recently completed a $6.5M capital raise. The market’s reaction was a continued decline in our stock price. It became necessary to plan and execute a 50:1 reverse stock split. Our trading was halted October 4th but has since resumed, and I am truly optimistic regarding the path ahead as I believe that the company is currently under-valued… In conclusion, through a combination of our key initiatives, growing demand, and demonstrated progress in our newest market, I believe AgEagle is on the correct path to increase long-term shareholder value. We appreciate your continued support. Sincerely, Bill Irby, CEO

    Draganfly Inc. (NASDAQ: DPRO), an award-winning, industry-leading developer of drone solutions and systems, recently announced its participation in the upcoming Wings of Saskatchewan event in Regina, from October 30 to October 31, 2024. Draganfly will showcase its latest drone technology advancements, contributing to discussions on industry trends, safety, and regulatory considerations alongside key stakeholders in the aviation sector.

    The Wings of Saskatchewan Conference, hosted by the Saskatchewan Aerial Applicators Association and the Saskatchewan Aviation Council, serves as a vital gathering for the aviation community. This year’s event will bring together leaders from both civil and commercial aviation sectors to discuss technological advancements, regulatory updates, and future trends within the industry.

    About FN Media Group:
    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty nine hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually”, or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI Asia-Pac: Report on wetland parks released

    Source: Hong Kong Information Services

    The report of the Strategic Feasibility Study on the Development of the Wetland Conservation Parks (WCPs) System was released today. 

    The development of a WCPs System was promulgated in the Northern Metropolis Development Strategy in 2021, with a view to conserving the Deep Bay wetlands with ecological value, and creating environmental capacity for the Northern Metropolis to achieve co-existence of conservation and development.

    A strategic feasibility study was commissioned by the Agriculture, Fisheries & Conservation Department (AFCD) in August 2022.

    The feasibility study considered that the development of the WCPs System was feasible and worthwhile, which could effectively conserve the wetlands in the Deep Bay area and enhance their ecological value, promote the modernisation of the aquaculture industry, and provide eco-education and recreation facilities for public enjoyment.

    At the same time, the development of the WCPs System could also create environmental capacity for the development of the Northern Metropolis, and achieve co-existence of conservation and development.

    The feasibility study recommended developing the WCPs System in phases by developing the Sam Po Shue WCP first.

    Subsequently, by making reference to the experience of planning and establishing the Sam Po Shue WCP, further studies on the remaining proposed parks would be reviewed in due course, such as the Hong Kong Wetland Park Expansion Area, Nam Sang Wai WCP, and Hoo Hok Wai WCP – including the Sha Ling/Nam Hang area.

    Specific positioning and functions for each Park were recommended by the consultant based on their respective conditions, and broad zonings, including a Biodiversity Zone, Eco-friendly Aquaculture Zone, Fisheries Enhancement Zone and Visitor Zone, were delineated under the conceptual plan of each park.

    It was also recommended that the Government oversee the overall management of the whole WCPs System, and manage the different zones within the parks in co-operation with different parties, depending on the relevant functions and operational needs.

    Such parties include non-governmental organisations, agriculture and fisheries associations, local communities, private landowners and the private sector.

    The AFCD said the recommendations of the report are generally acceptable and would be taken into consideration in the next stage when detailed studies are carried out on the investigation, design and construction of the parks.

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: eInvoicing-enabled entities

    Source: Australian Department of Revenue

    These Australian Government entities are registered on the Peppol network. They appear on the Peppol Directory along with hundreds of state, territory and local government organisations, and thousands of other Australian businesses who can receive eInvoices.

    If you supply to any of the entities listed below and can send eInvoices you may be paid faster. For more information visit Getting PaidExternal Link on the Department of Finance’s website or talk to your contract manager in the Government entity about any specific requirements.

    Australian Government entities able to receive eInvoices

    ABN

    Entity name

    73 147 176 148

    Administrative Review Tribunal

    80 246 994 451

    Aged Care Quality and Safety Commission

    50 802 255 175

    Asbestos and Silica Safety and Eradication Agency

    92 661 124 436

    Attorney-General’s Department

    26 331 428 522

    Australian Bureau of Statistics

    34 864 955 427

    Australian Centre for International Agriculture Research

    54 488 464 865

    Australian Charities and Not-for-profits Commission

    97 250 687 371

    Australian Commission on Safety and Quality In Health Care

    55 386 169 386

    Australian Communications and Media Authority

    94 410 483 623

    Australian Competition & Consumer Commission

    11 259 448 410

    Australian Crime Commission

    84 425 496 912

    Australian Digital Health Agency

    21 133 285 851

    Australian Electoral Commission

    17 864 931 143

    Australian Federal Police

    19 892 732 021

    Australian Film Television & Radio School

    63 384 330 717

    Australian Financial Security Authority

    81 098 497 517

    Australian Fisheries Management Authority

    69 405 937 639

    Australian Government Solicitor

    47 996 232 602

    Australian Human Rights Commission

    31 162 998 046

    Australian Industrial Chemicals Introduction Scheme

    63 257 175 248

    Australian Institute of Criminology

    64 001 053 079

    Australian Institute of Family Studies

    65 377 938 320

    Australian Maritime Safety Authority

    33 020 645 631

    Australian National Audit Office

    13 059 525 039

    Australian Office of Financial Management

    56 253 405 315

    Australian Organ & Tissue Donation and Transplantation Authority

    79 635 582 658

    Australian Prudential Regulation Authority

    99 470 863 260

    Australian Public Service Commission

    61 321 195 155

    Australian Radiation Protection and Nuclear Safety Agency (ARPANSA)

    35 931 927 899

    Australian Renewable Energy Agency

    35 201 451 156

    Australian Research Council

    86 768 265 615

    Australian Securities & Investments Commission

    37 467 566 201

    Australian Security Intelligence Organisation

    22 323 254 583

    Australian Signals Directorate

    72 581 678 650

    Australian Skills Quality Authority

    67 374 695 240

    Australian Sports Commission

    67 250 046 148

    Australian Submarine Agency

    51 824 753 556

    Australian Taxation Office

    11 764 698 227

    Australian Trade and Investment Commission

    32 770 513 371

    Australian Transaction Reports & Analysis Centre (AUSTRAC)

    65 061 156 887

    Australian Transport Safety Bureau

    64 909 221 257

    Australian War Memorial

    92 637 533 532

    Bureau of Meteorology

    21 075 951 918

    Cancer Australia

    44 808 014 470

    Civil Aviation Safety Authority

    43 669 904 352

    Clean Energy Finance Corporation

    72 321 984 210

    Clean Energy Regulator

    60 585 018 782

    Climate Change Authority

    41 640 788 304

    Comcare Australia

    64 703 642 210

    Commonwealth Grants Commission

    34 190 894 983

    Department of Agriculture, Fisheries and Forestry

    68 706 814 312

    Department of Defence

    69 289 134 420

    Department of Defence Army & Air Force Canteen Service

    12 862 898 150

    Department of Education

    96 584 957 427

    Department of Employment and Workplace Relations

    61 970 632 495

    Department of Finance

    47 065 634 525

    Department of Foreign Affairs & Trade

    83 605 426 759

    Department of Health and Aged Care

    33 380 054 835

    Department of Home Affairs

    74 599 608 295

    Department of Industry, Science and Resources

    86 267 354 017

    Department of Infrastructure, Transport, Regional Development, Communications and the Arts

    52 997 141 147

    Department of Parliamentary Services

    36 342 015 855

    Department of Social Services

    18 526 287 740

    Department of the House of Representatives

    49 775 240 532

    Department of the Parliamentary Budget Office

    23 991 641 527

    Department of the Senate

    92 802 414 793

    Department of the Treasury

    23 964 290 824

    Department of Veterans’ Affairs & the Repatriation Commission and the Military Rehabilitation and Compensation Commission

    96 257 979 159

    Digital Transformation Agency

    13 051 694 963

    Director of National Parks

    99 696 833 561

    Domestic, Family and Sexual Violence Commission

    12 212 931 598

    eSafety Commissioner

    93 614 579 199

    Fair Work Commission

    49 110 847 399

    Federal Court of Australia

    20 537 066 246

    Food Standards Australia New Zealand

    40 465 597 854

    Future Fund Board of Guardians

    53 156 699 293

    Future Fund Management Agency

    80 091 799 039

    Geoscience Australia

    12 949 356 885

    Great Barrier Reef Marine Park Authority

    27 598 959 960

    Independent Health and Aged Care Pricing Authority

    26 424 781 530

    Independent Parliamentary Expenses Authority

    59 912 679 254

    Indigenous Land and Sea Corporation

    51 248 702 319

    Inspector-General of Taxation

    38 113 072 755

    IP Australia

    13 679 821 382

    Murray-Darling Basin Authority

    47 446 409 542

    National Anti-Corruption Commission

    36 889 228 992

    National Archives of Australia

    87 361 602 478

    National Blood Authority

    75 149 374 427

    National Capital Authority

    56 552 760 098

    National Competition Council

    25 617 475 104

    National Disability Insurance Agency

    40 816 261 802

    National Emergency Management Agency

    27 855 975 449

    National Gallery of Australia

    88 601 010 284

    National Health and Medical Research Council

    15 337 761 242

    National Health Funding Body

    30 429 895 164

    National Indigenous Australians Agency

    22 385 178 289

    National Offshore Petroleum Safety and Environmental Management Authority

    67 890 861 578

    National Transport Commission

    72 581 678 650

    National Vocational Education and Training Regulator

    40 293 545 182

    NDIS Quality and Safeguards Commission

    61 900 398 761

    North Queensland Water Infrastructure Authority

    87 904 367 991

    Office of National Intelligence

    41 425 630 817

    Office of Parliamentary Counsel

    80 959 780 601

    Office of the Auditing and Assurance Standards Board

    92 702 019 575

    Office of the Australian Accounting Standards Board

    85 249 230 937

    Office of the Australian Information Commissioner

    53 003 678 148

    Office of the Commonwealth Ombudsman

    41 036 606 436

    Office of the Director of Public Prosecutions

    43 884 188 232

    Office of the Fair Work Ombudsman

    15 862 053 538

    Office of the Gene Technology Regulator

    27 478 662 745

    Office Of the Inspector-General of Aged Care

    67 332 668 643

    Office of the Inspector-General of Intelligence & Security

    67 582 329 284

    Office of the Official Secretary to the Governor-General

    87 767 208 148

    Office of the Special Investigator

    30 620 774 963

    Old Parliament House

    78 094 372 050

    Productivity Commission

    45 307 308 260

    Professional Services Review

    99 528 049 038

    Regional Investment Corporation

    45 852 104 259

    Royal Australian Mint

    25 203 754 319

    Rural Industries Research & Development Corporation

    81 840 374 163

    Safe Work Australia

    46 741 353 180

    Screen Australia

    32 745 854 352

    Seafarers Safety Rehabilitation and Compensation Authority

    90 794 605 008

    Services Australia

    17 090 574 431

    Snowy Hydro Limited

    91 314 398 574

    Special Broadcasting Service Corporation

    70 588 505 483

    Sport Integrity Australia

    50 658 250 012

    Tertiary Education Quality and Standards Agency

    18 108 001 191

    The Department of the Prime Minister and Cabinet

    40 939 406 804

    Therapeutic Goods Administration

    57 155 285 807

    Torres Strait Regional Authority

    47 641 643 874

    Workplace Gender Equality Agency

    MIL OSI News –

  • MIL-OSI United Kingdom: The Environment Agency increasing trout and eels in New Forest

    Source: United Kingdom – Executive Government & Departments

    Sea trout and eels can now access more habitats in the New Forest after Environment Agency fits fish pass made from natural materials

    The new fish pass will help sea trout and eels move upstream.

    The Environment Agency has improved access for sea trout and eels in the upper reaches of the New Forest’s Highland Water ecosystem.  

    A bespoke structure has been built to create more favourable conditions for fish to migrate upstream over a wider range of water levels and flows. The fish can now access over 2km of habitat under a greater range of flows.  

    The multi-species fish pass was constructed where the stream passes under the A31 through a culvert onto a weir, which previously made migration more challenging. 

    The new fish pass will greet eels who have travelled 4,000 miles from the north-west Atlantic Ocean.

    Vicky Gravestock, a fisheries officer with the Environment Agency, said:  

    The barrage structures, used to ease migration, have been designed to help both sea trout and eels move upstream over a wider flow range, increasing successful migration. We hope we have played our small part in the lifecycle of these fish by making more habitat available to continue their journey.  

    We had to meet strict standards to deliver these works in the New Forest because it is a protected site. During construction, we used natural materials, which were in keeping with and sympathetic to their surroundings. We were able to use the in-house skills of our wood workshop in Rye, in East Sussex, and then apply the skills of our field team to tailor and fit the structures on site. 

    The success of the project will continue to be assessed as part of the Environment Agency’s fish-monitoring programme in Hampshire, Sussex and on the Isle of Wight, next summer. At the end of this year, the sea trout redds, which are nests created to lay their eggs, will also be counted.   

    Sea trout are known to spawn throughout the New Forest. The fish enter the river system from the Solent, in late spring making the journey upstream to spawn in December. Some of them migrate out to sea as smolts, or young trout, live their adult lives at sea and then return to freshwater to spawn again.  

    Eels spawn in the Sargasso Sea in the north-west Atlantic Ocean. From there, they journey 4,000 miles over two years to Europe. Once they reach freshwater estuaries, they turn into young eels, known as elvers, up to 12cm long and swim up into rivers. Here they can live for up to 20 years, before returning to the Sargasso Sea as mature adults to spawn.

    How it was before the fish pass went in. Conditions were less favourable for migration.

    Background: 

    Contact us:

    Journalists only: 0800 141 2743 or communications_se@environment-agency.gov.uk

    Updates to this page

    Published 24 October 2024

    MIL OSI United Kingdom –