NewzIntel.com

Category: European Union

  • MIL-OSI United Kingdom: SNP block action to halt funding for companies arming Israel

    Source: Scottish Greens

    26 Feb 2025 External Affairs

    Not a penny of public money should go to companies arming genocide.

    More in External Affairs

    The SNP has used a wrecking amendment to keep grants for arms companies complicit in Israel’s genocidal assault on Gaza.

    The Scottish Government has rightly and strongly opposed the bombing and collective punishment of Gaza. Despite this, since the war began, it has given over £1 million to companies that have armed Israel via Scottish Enterprise.

    Scottish Green Co-leader Lorna Slater said:

    “The humanitarian crisis in Gaza is one of the worst in the world, and this was an opportunity for our parliament to take concrete steps to ensure that Scotland is playing no part in it. It is deeply disappointing that the SNP chose to block action.

    “The Scottish Government is right to support a ceasefire in Gaza, but it is simply hypocritical for them to continue backing companies who are enabling and profiting from the atrocities that have been inflicted by Israeli forces.

    “When Russia invaded Ukraine the Scottish Government rightly took action against companies who were supporting Putin and his war machine, with measures that went far further than arms companies. It is time for them to do the same for Israel.

    “Not a penny of public money should be given to companies that are profiting from genocide or war crimes whether they are being carried out by Russian forces or by Israel.”

    As part of the debate the SNP agreed to review the human rights checks which are applied by public bodies to grant applicants. To date, no company has ever failed one of the existing tests, including many of the world’s biggest arms companies.

    Ms Slater added:

    “We welcome the SNP’s commitment to review the human rights checks that are applied, but it should not have taken our debate to make them do that.

    “The new tests need to be far more robust than anything we have had to date, as no human rights check worthy of the name would allow grants to companies that are complicit in genocide.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Vote to keep peak rail fares a hammer blow for commuters

    Source: Scottish Greens

    26 Feb 2025 Transport

    Fares in Scotland are already among the most expensive in Europe.

    More in Transport

    The Scottish Parliament’s vote to keep peak rail fares and an above inflation hike is a ‘hammer blow’ for commuters who deserve cheaper, accessible travel options, say the Scottish Greens.

    The party used opposition debate time for a motion calling for the Scottish Government to halt the inflation-busting rail fare hikes due in April, and to permanently remove peak rail fares.

    The SNP and Liberal Democrats joined forces to stop the motion, backing an SNP amendment that blocked it.

    Scottish Greens spokesperson for transport Mark Ruskell MSP said:

    “I am deeply disappointed that MSP’s across the chamber voted to oppose our motion and to keep these punishing fares in place.

    “This is another hammer blow to workers, students and commuters who are already struggling with rising bills in every corner of their lives.

    “Fares in Scotland are already among the most expensive in Europe. We badly need action to cut the cost and make rail travel more affordable for all.

    “We need to stop financially penalising people who have no say in the times they have to catch the train.

    “ScotRail is publicly owned. We need to use that control to build a modern green railway and encourage people to leave their cars at home.

    “If we are serious about cutting emissions then we need to boost public transport, and rail is a crucial part of that.

    “Travelling by car should never seem like the only option available, because it costs both people and planet in the long run.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Stuart Road Primary to make Safer School Streets permanent

    Source: City of Plymouth

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI United Kingdom –

  • MIL-OSI: Annual General Meeting announcement

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, February 26, 2025

    SBM Offshore announces that the agenda of the Annual General Meeting of Shareholders (AGM) and the invitation for shareholders to attend the AGM have now been published on the Company’s website. The AGM will be held at the Steigenberger Airport Hotel Amsterdam (Stationsplein Zuid-West 951, 1117 CE Schiphol, the Netherlands) on Wednesday April 9, 2025 at 2.30 p.m. Central European Time.

      

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy.

    More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.

    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025
    Third Quarter 2025 Trading Update   November 13 2025
    Full Year 2025 Earnings   February 26 2026

    For further information, please contact:

    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

    Market Abuse Regulation

    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer

    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2024 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports – SBM Offshore.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    Attachment

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

          

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

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

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

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

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

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

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

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

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

    Very active investment activity & capital allocation

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

    Strong financial structure and committed to remain Investment Grade

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

    Reappointment of Wendel’s Executive Board

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Wendel’s Principal Investments’ portfolio rotation

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

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

    Wendel’s Asset Management platform evolution

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

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

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

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

    Third Party Asset Management value creation and performance

    2024 performance

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

    Sponsor money invested by Wendel

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

    Principal Investment companies’ value creation and performance

    Figures post IFRS 16 unless otherwise specified.

    Listed Assets: 36% of Gross Asset Value

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

    (full consolidation)

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

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

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

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

    2025 outlook

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

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

    For further details: group.bureauveritas.com

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

    Tarkett reported its annual results on February 20, 2025

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

    Unlisted Assets: 34% of Gross Asset Value

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

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

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

    (Full consolidation) 

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

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

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

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

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

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

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

    (Full consolidation)

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

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

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

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

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

    (full consolidation)

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

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

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

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

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

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

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

    (Full consolidation since July 2023.)  

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

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

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

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

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

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

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

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

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

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

    Consolidated Accounts

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

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

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

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

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

    ESG achievements

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

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

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

    New ESG roadmap 2024-2027

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

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

    Renewal of the Executive Board of Wendel

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

    Renewal of the appointments of members of the Supervisory Board

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

    Agenda

    Thursday, April 24, 2025

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

    Thursday, May 15, 2025

    Annual General Meeting

    Wednesday, July 30, 2025

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

    Thursday, October 23, 2025

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

    Wednesday, December 10, 2025

    2025 Investor Day.

    About Wendel

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

    Wendel is listed on Eurolist by Euronext Paris.

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

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

    For more information: wendelgroup.com

    Follow us on LinkedIn @Wendel 

    Appendix 1: 2024 Consolidated sales and results

    2024 consolidated net sales

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

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

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

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

    (4) Contribution of eight months of sales        

    2024 net sales of equity-accounted companies

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

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

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

    2024 consolidated results

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

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

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

    2024 net income from operations

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

    Appendix 2: Fully diluted Net Asset Value bridge over 2024

    Appendix 3: Conversion from accounting presentation to economic presentation

    Please refer to table 7.1 of the consolidated statements.

    Appendix 4: Glossary

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

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

    2 Fully diluted of share buybacks and treasury shares.

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

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

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

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

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

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

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

    13 Commitments not yet invested

    14 Fee Paying AuM

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

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

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

    18 Leverage as per credit documentation definition.

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

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

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

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

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

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

    25 As per credit documentation (pre IFRS 16)

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

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

    28 As per credit documentation definition.

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

    Attachment

    The MIL Network –

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

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

    hanohiki/Shutterstock

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

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

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

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

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

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

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

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

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

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

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

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

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

    A path forward

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

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

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

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

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

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

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

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

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

    MIL OSI – Global Reports –

  • MIL-OSI: Haffner Energy successfully commissioned its hydrogen-from-biomass production unit in Marolles, France – a breakthrough for the hydrogen industry

    Source: GlobeNewswire (MIL-OSI)

    Vitry-le-François, France – February 26, 2025, 6:00 PM (CEST)

    • Commissioning of the world’s first plant producing hydrogen from solid biomass at the Marolles site (Champagne region, France).
    • Unique thermochemical process that significantly reduces green hydrogen costs.
    • “Super green”1 hydrogen available for commercial use beginning the second half of 2025.

    Haffner Energy (ISIN: FR0014007ND6 – Ticker: ALHAF) announces the commencement of hydrogen2 production utilizing its proprietary solid biomass thermolysis technology at its Marolles hydrogen production, testing, and training center, as was announced in the 12/17/2024 press release. This unique technology enables the production of renewable hydrogen at a substantially lower cost compared to conventional methods, while offering an unparalleled carbon footprint.

    “Achieving the continuous production of competitive green hydrogen is a decisive step. Currently, the industry faces significant delays due to the excessive cost of decarbonized hydrogen. We are confident that our solution will accelerate the adoption of renewable hydrogen and enhance the sector’s competitiveness. I want to congratulate the Haffner Energy team and our partners for this remarkable achievement, ushering the company into a new era,” stated Philippe Haffner, Co-founder and CEO of Haffner Energy.

    A Flexible and Economically Advantageous Production Model

    The site’s production capacity will be 15 kg of hydrogen per hour (kg/h), with an initial phase temporarily limited to 11 kg/h due to the existing PSA (Pressure Swing Adsorption) purification equipment. This equipment will be replaced in the coming months by a PSA designed to reach a 15 kg/h capacity. The unit already produces hydrogen at 8 bar pressure, ready for commercial distribution starting in the second half of 2025 to serve transportation and industrial markets.

    Anticipated since late 2024, this commissioning required the site to be connected to the medium-voltage electrical grid, which was completed earlier this year, followed by the on-site presence of commissioning engineers focused on the main equipment suppliers for hydrogen purification.

    The biomass thermolysis unit, operational since June 2024, exceeds the capacity required to produce 15 kg/h of hydrogen. The new PSA, already received by Haffner Energy, will be complemented by a compressor reaching 35 bar pressure, supplying an H14 distribution station provided by HRS.

    Marolles is designed to operate 8,000 hours per year. As part of this site’s operations, 120 metric tons of mobility-grade hydrogen per year (15 kg/hour) will be produced, contributing to the decarbonization of mobility and industry. This is equivalent to 12 million kilometers traveled with hydrogen vehicles. Approximately 2,400 metric tons of CO₂ per year will be avoided or captured through hydrogen and biocarbon (char or biochar) combined.

    A memorandum of understanding for the offtake has been signed for the supply of 90 tonnes of hydrogen per year, mainly for mobility applications, which is designed to ensure a commercial outlet within the next few months.

    Hydrogen Production from Residual Solid Biomass: A Game Changer

    The scaling up of Haffner Energy’s proprietary biomass thermolysis technology is poised to disrupt the global and French renewable hydrogen markets, facilitating accelerated commercial and industrial development. This technology offers several key advantages:

    • Economically Competitive Solution: Already capable of competing with gray hydrogen for installations of 20 MW and above – a feat far from achievable by alternative technologies.
    • Economic Model Based on Low-Cost Biomass Energy: Hydrogen from biomass thermolysis is significantly cheaper to produce than hydrogen from the electrolysis of water thanks to low primary energy costs (<30€/MWh and often even <20€/MWh, compared with >70€/MWh for decarbonized electricity) and optimal energy efficiency (generally >70%).
    • Independence from the Electrical Grid: Unlike electrolysis, thermolysis is minimally dependent on electricity availability and cost, ensuring stable and predictable production.
    • Negative Carbon Footprint: This technology sequesters biogenic carbon through biochar co-production, achieving a negative carbon footprint when considering the full LCA.3
    • Flexible Sourcing: This biomass-agnostic technology is able to utilize various residual biomasses, in particular from agriculture, ensuring greater autonomy and resilience against feedstock market fluctuations while significantly expanding available resources.

    Towards Commercial and Industrial Expansion

    The commissioning of the Marolles unit marks a strategic milestone for Haffner Energy. This success accelerates commercial discussions with several partners interested in this disruptive technology and, as announced in previous communications, will enable the Company’s project pipeline to be converted into firm orders, thereby generating revenue. In particular, the effective commissioning of the site is a catalyst for finalizing the signing of two major contracts.

    The continuous operation of hydrogen and renewable gas production equipment on site will also enable Haffner Energy’s team to conduct tests using specific biomasses for each potential client, including non-conventional biomasses such as organic sludge, manure, and algae, thereby confirming the compatibility of Haffner Energy’s technology.

    Furthermore, Haffner Energy is now positioned to leverage a previously untapped technological solution that converts hydrogen into electricity at an extremely competitive cost, highly valuable during peak consumption periods.

    Despite a global context that remains unfavorable to the development of the hydrogen market, particularly in Europe and in France—where the national hydrogen strategy has yet to be announced—Haffner Energy’s position in this high-potential market is now strengthened.

    Additional resources

    Next events 

    • Annual results 2024-2025                         June 18, 2025
    • Annual Shareholders Meeting                  September 10, 2025

    About Haffner Energy

    Haffner Energy is a French company providing solutions for competitive clean fuels production. With a 32- year experience converting biomass into renewable energies, it has developed innovative proprietary biomass thermolysis and gasification technologies to produce renewable gas, hydrogen and methanol, as well as Sustainable Aviation Fuel (SAF). The company also contributes to regenerating the planet through the co-production of biogenic CO2 and biocarbon (or char/biochar). Haffner Energy is listed on Euronext Growth (ISIN code : FR0014007ND6 – Ticker : ALHAF).

    Investor Relations

    investisseurs@haffner-energy.com

    Media Relations

    Laure BOURDON
    laure.bourdon@haffner-energy.com
    +33 (0) 7 87 96 35 15

    Glossary:

    * Biocarbon is a carbon-rich solid material. Biocarbon contains biogenic carbon absorbed from the atmosphere by plants via photosynthesis. This characteristic makes it a major carbon sink when used as a soil amendment, either applied directly or incorporated into fertilizers (known as biochar), or incorporated into building materials (known as char). Biocarbon is also a very dense source of renewable energy (31 MJ/kg) that can be gasified on site to increase the production of biofuels such as bio-SAF or the production of renewable hydrogen, but can also be shipped and gasified at another site, notably for the production of e-fuels.

    1 In accordance with the order of July 1, 2024 specifying the greenhouse gas emission threshold and the methodology for qualifying hydrogen as renewable or low-carbon.

    2 Samples were taken today by an independent laboratory to validate the mobility quality of this hydrogen.

    3 In accordance with the life cycle assessment study carried out by the LCA consultancy EVEA at the end of 2021.

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: UK sets out biodiversity commitments to protect nature

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK sets out biodiversity commitments to protect nature

    Commitments set out during conference as COP16 negotiations resume in Rome on delivering global nature goals

    The UK has today (Wednesday 26 February) outlined its commitment to the implementation of UN COP15 biodiversity framework by publishing its National Biodiversity Strategy & Action Plan (NBSAP) – showing how we intend to meet all the global targets and goals . 

    The resumed session of the 16th meeting of the Conference of the Parties (COP16) in Rome, Italy, will focus on unresolved items from Calì, Colombia in October 2024, including an international strategy to mobilise finance for nature and the mechanism to review global progress against the Kunming-Montreal Global Biodiversity Framework (GBF).

    A partnership between Defra, the Scottish Government, the Welsh Government and Northern Ireland’s Department of Agriculture, Environment and Rural Affairs, the NBSAP commits the UK to achieving all 23 of the Global Biodiversity Framework targets at home and outlines how its four countries will work together to fully implement each of these, including commitments to:

    • Expand protected areas to at least 30% of the land and seas
    • Reduce pollution from all sources to levels that are not harmful to biodiversity
    • Enhance biodiversity and sustainability in agriculture, aquaculture, fisheries, and forestry
    • Ensure sustainable, safe and legal harvesting and trade of wild species 

    The NBSAP draws on commitments made by the UK, its Overseas Territories and Crown Dependencies – which make a significant contribution to global biodiversity – to summarise our collective ambition to work together to address biodiversity loss.

    Achieving these goals to halt and reverse biodiversity loss by 2030 will be part of the global pathway towards a world living in harmony with nature by 2050.

    Nature Minister Mary Creagh said:

    “The UK continues to drive progress on nature protection and restoration both at home and across the world.  

    “It’s never been more important to tackle the nature and climate crises, and that’s why we will continue to press for concerted action to ensure full implementation of the Global Biodiversity Framework.

    “There is more work to do with our international partners, and the UK will be at the forefront of negotiations in Rome.”

    Ruth Davis, the UK’s Special Representative for Nature, said:

    “We need urgent action to address the nature crisis and that means working to halt biodiversity loss both internationally and at home.

    “The launch of the NBSAP is a signal of the UK’s commitment to match international co-operation on nature with domestic activity to protect and enhance our natural world.

    “We will continue to play our part in achieving our international nature targets, while working with other nations to make a difference across the globe.”

    Natural England Chair Tony Juniper said:

    “Nature underpins our economy, health and security. We rely on ecosystems for food, water and air, for resilience in the face of climate change and in sustaining our physical and psychological wellbeing.

    ”Just five years remain for us to meet the ambitious but critical Global Biodiversity targets agreed by world leaders at COP15. It is crucial that we ramp up action and work together to protect and restore our natural environment, including for the benefit of future generations. 

    “The Plan published today sets out how international commitments will translate into action on the ground across the UK and we look forward to working with government and our many partners to deliver what’s needed to recover nature.”

    The Plan published today sets out how international commitments will translate into action on the ground, so that we can deliver the changes needed to recover nature.”

    The UK is also supporting other countries to ensure that this global agreement is implemented, including by sharing technical and scientific expertise with partners all around the world, and supporting work to halt and reverse nature loss across the globe.

    The Government is committed to protecting and restoring nature, and has launched a rapid review of the Environmental Improvement plan so that we can now meet our domestic and international targets and re-establish the UK as an international leader on the environment, as part of the Plan for Change.

    We will honour the UK’s international commitments to deliver 30by30 – protecting 30% of the UK’s land and sea by 2030 – to ensure that at least 30% of the Earth’s land and ocean is being effectively conserved and managed by 2030, and to playing our part in achieving the global 30by30 target adopted at the UN Biodiversity Summit COP15 in December 2022. 

    Additional information:

    • Blueprint for halting and reversing biodiversity loss: the UK’s National Biodiversity Strategy and Action Plan for 2030, jointly published by Defra, the Scottish Government, the Welsh Government and Northern Ireland’s Department of Agriculture, Environment and Rural Affairs, summarises the UK’s response to the GBF to drive action at UK level to change the global picture.

    • In December 2022, 196 Parties to the Convention on Biological Diversity came together to agree the GBF, which consists of four goals and 23 targets, with the overall mission of halting and reversing biodiversity loss globally by 2030 to put nature on a path to recovery for the benefit of people and planet,

    • The UK will also support other countries to deliver the National Biodiversity Strategy, from sharing technical and scientific expertise with partners all around the world, to supporting work to halt and reverse nature loss across the globe.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New crossing for Cot Hill

    Source: City of Plymouth

    Plans for a new crossing over Cot Hill in Plympton have been given the go-ahead following public consultation.

    The crossing, near the Marshall Road junction, will help people (including those with disabilities) to walk and cycle across this busy road.

    It will create a safer pedestrian and cycle route between Saltram Park and Underwood Recreation Ground, further enhancing the National Cycle Network.

    In addition to the crossing, the scheme will include a dropped kerb crossing on Marshall Road, a raised table crossing on Dudley Road and a wider, shared-use path on Cot Hill.

    Double yellow lines will also be introduced on the eastern (uphill) side of Cot Hill between Marshall Road and Dudley Road to help prevent obstructive parking.

    The improvements will be entirely grant-funded by National Highways through Sustrans.

    Councillor Mark Coker, Cabinet Member for Strategic Planning and Transport, said: “These improvements will make a big difference for people walking and cycling along this busy route. They will make it easier and safer for them to travel between Saltram and other parts of Plympton, including Underwood Recreation Ground, as well as alleviate problem parking in the area. Helping people to walk and cycle more improves their health and wellbeing, while also reducing traffic congestion and the carbon emissions it creates.”

    The decision was approved today and can be viewed on our decisions page.

    Construction is planned to take place in the summer.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Next steps in the Expressions of Interest for Havre des Pas Lido26 February 2025 ​​Vision for The Lido The Government of Jersey wants to see the Havre des Pas Lido evolve into a vibrant, inclusive, and year-round public asset. This historic and iconic coastal destination will serve… Read more

    Source: Channel Islands – Jersey

    26 February 2025

    ​​

    Vision for The Lido 

    The Government of Jersey wants to see the Havre des Pas Lido evolve into a vibrant, inclusive, and year-round public asset. This historic and iconic coastal destination will serve the diverse needs of the island community, including families, recreational swimmers, fitness enthusiasts, and social groups, while enhancing Jersey’s appeal to residents and visitors alike. 

    The Government of Jersey invited expressions of interest, EOIs, for the operation of the Swimming Pool and Associated Facilities at Havre des Pas, St Helier. EOIs were submitted in December 2024 and each submission was handled with strict confidentiality. 

    Interested parties were required to detail their vision for the site, including: 

    • initiatives for community engagement, particularly sporting and youth activities 
    • operational hours and maintenance regime 
    • anticipated investments and employment generation 
    • catering proposals and event plans. 

    Next Steps 

    All parties who submitted EOIs were notified of the receipt of their submission in January 2025. They will be invited to present their proposal to a selection panel in April. The panel will score and rank each EOI and will make a recommendation to the Assistant Minister for Infrastructure, Connétable Simon Crowcroft of St Helier, for the award of a 9-year lease to the successful bidder. ​

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Overnight road closures ahead for repairs to flyover

    Source: City of Leicester

    MOTORISTS are being warned that overnight road closures will be in place on part of Leicester’s busy inner ring road next week.

    Leicester City Council will be closing Burleys Way Flyover for up to five nights while essential maintenance work is carried out, and damaged bridge parapets – the safety barriers on the edge of the flyover – are replaced.

    The full closure is due to be in place overnight from 8pm for five consecutive nights from Monday 3 March. The flyover will reopen to traffic from 6am on each day to help minimise disruption.

    A short, well-signposted diversion will be in place via Burleys Way and St Matthews Way during the works.

    The works – which will also include clearing drainage channels, minor carriageway repairs and refreshing road markings – will cost £24,000 and are being funded from the city council’s annual highways maintenance budget.

    A Leicester City Council spokesperson said: “These overnight closures are required while essential maintenance and repair work is carried out to Burleys Way Flyover. The work will be carried over five nights to help minimise disruption to traffic on this busy route.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK urges Russia to respect the Geneva Conventions and ensure the humane treatment of Prisoners of War: UK statement to the OSCE

    Source: United Kingdom – Executive Government & Departments

    Speech

    UK urges Russia to respect the Geneva Conventions and ensure the humane treatment of Prisoners of War: UK statement to the OSCE

    UK Counsellor, Ankur Narayan, cites multiple independently-verified sources documenting Russia’s widespread use of torture against Ukrainian prisoners of war, a clear violation of its obligations under the Geneva Conventions.

    Thank you, Mr Chair.  This month marked eleven years since Russia began its illegal annexation of Crimea.  Earlier this week marked three years since its full-scale invasion of Ukraine, enabled by Belarus.  Each week, this Forum has executed its mandate by recording the related breaches of OSCE commitments and violations of international law.

    At last month’s FSC Opening Session, the Russian Delegation called on us to “create favourable conditions for the fulfilment of the [FSC’s] mandate … including the Code of Conduct”.  We agree.

    As Russia knows, paragraphs 30, 31 and 34 of the Code of Conduct compel States to ensure that their armed and security forces abide by international law.  As Russia knows, Paragraph 34 explicitly references the Hague Conventions and the Geneva Conventions.  As Russia knows, I will only cite independently-verified, internationally-respected sources.

    Mandate after mandate, the UN has consistently reported that the torture of Ukrainian prisoners of war by the Russian authorities is widespread and systematic.  In recent months, assessments have only worsened.  The Commission of Inquiry on Ukraine has concluded that Russia’s use of torture against POWs and civilian detainees amounts to “crimes against humanity”.

    The OHCHR continued to document the “widespread use of torture and ill-treatment”, including sexual violence, against civilians and Ukrainian prisoners of war held by the Russian Federation. The OHCHR also documented the continued efforts of family members to obtain information about the fate and whereabouts of civilian detainees and POWs in captivity.

    Mr Chair, Russia must abide by its Geneva Convention obligations.  This means it must treat all civilian detainees and prisoners of war humanely.  It must also allow immediate unimpeded access by the ICRC.

    The UK condemns Russia’s exploitation of Prisoners of War for political and propaganda purposes. We are deeply concerned that Russia has detained two British nationals Mr James Anderson and Mr Hayden Davies on false charges of so-called mercenaryism. They are not mercenaries. They are Prisoners of War. Ukraine has confirmed that both are members of Ukrainian Armed Forces. They must be provided all the rights and protections afforded to Prisoners of War under the Geneva Conventions. We demand Russia respects its obligations under International Law.

    The Code of Conduct commits us to act in solidarity if OSCE norms and commitments are violated.  As catalogued by the OSCE Moscow Mechanisms, ODIHR and UN, there is irrefutable independent evidence of Russia violating international law, including international humanitarian law.  As per paragraph 1 of the Code, such breaches are a “direct and legitimate” concern for us all.

    That is why we call on Russia to respect the Geneva Conventions and ensure the humane treatment of Prisoners of War.  That is why Russia must also release all civilians who have been arbitrarily detained – including the three Special Monitoring Mission staff.  Thank you.

    Updates to this page

    Published 26 February 2025

    Invasion of Ukraine

    MIL OSI United Kingdom –

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

    Source: World Food Programme

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

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

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

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

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

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

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

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

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

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

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

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

    #                       #                       #

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

     

    Follow us on Twitter @WFP_Egypt 

    And on Instagram @WFP_Egypt 

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

    MIL OSI United Nations News –

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

    Source: United Kingdom – Executive Government & Departments

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

    Dr Alessandro Silvano, Oceanographer, University of Southampton said:

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

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

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

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

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

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

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

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

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

     

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

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

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

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

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

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

    Does the press release accurately reflect the science?

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

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

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

     

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

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

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

    How does this work fit with the existing evidence?

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

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

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

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

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

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

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

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

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

     

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

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

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

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

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

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

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

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

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

     

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

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

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

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

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

    DOI: 10.1038/s41586-024-08544-0 

    Declared interests

    Dr Alessandro Silano “None”

    Dr. René van Westen “None”

    Prof Stefan Rahmstorf “None”

    Dr Joel Hirischi “None”

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

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

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

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Ambitious budget set to empower communities and support the most vulnerable

    Source: Scotland – City of Perth

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

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

    Key investments agreed:

    • Protecting vital services for residents in the greatest need – the budget prioritises vulnerable residents, with almost £7 million to maintain health and social care services, plus £1 million over two years to support innovation and provide new models of delivering care in our communities. 
    • Protecting frontline jobs – no further job cuts are required as part of the budget decisions made today, with over £2 million being put back into Education and Learning to reverse proposed reductions in teacher numbers and £400,000 to prevent further cuts to teams supporting vulnerable children and families. Council officers are continuing to deliver on phase 2 of the leadership savings agreed last year.
    • Empowering communities – the budget includes £1 million to support community resilience, £1 million for Culture Perth and Kinross services, and almost £150,000 in community sports.

    Council Leader, Councillor Grant Laing, said: “Community groups are an essential part of delivering on local ambitions, and I’m proud that this budget creates more opportunities than ever before to put them at the heart of local decision-making. From additional funding for Bloom groups and Community Councils, to investing in community resilience and community sports, there’s lots we have been able to do.

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

    Additional key investments include:

    • Economic growth – £9 million over four years in the Commercial Property Investment Programme to make more units available for new and growing businesses, particularly in rural Perth and Kinross.
    • Environmental initiatives – £200,000 to provide practical support to Bloom and biodiversity groups to accelerate the delivery of the biodiversity aims of our Grow Wild approach to greenspaces. And, another £200,000 to deliver a new round of the Green Living Fund for community projects.
    • Public transport – almost £170,000 to extend the offer for free bus travel on the first Saturday of every month for another year, adding extra free travel for Clean Air Day in June and for an additional free Saturday in December in the peak Christmas shopping season. Plus, almost £70,000 for rural bus services and community transport initiatives.
    • Tackling poverty – adding £2 million to target anti-poverty initiatives, including continuing school holiday food and fun activities, and investing in efforts to tackle poverty in rural areas.

    Councillor Laing added: “One of our key priorities is to tackle poverty head-on. We are investing in job creation and growth schemes, such as apprenticeships and rural employability programs, to provide more opportunities for our residents. Additionally, we are adding £2 million to our anti-poverty funding and allocating £600,000 to the Financial Insecurity Fund and Scottish Welfare Fund. This will ensure that we can support those facing financial challenges and help them access the discounts and benefits they are entitled to.

    “Our Welfare Rights Team does a fantastic job in helping maximise income for households in financial need. By investing further in this team, we can support even more households and ensure that everyone in our community has the resources they need to thrive.
    “With this ambitious budget, we are not only addressing immediate needs but also laying the foundations for a resilient and thriving community. Together, we are building a brighter future for Perth and Kinross.”

    MIL OSI United Kingdom –

  • MIL-OSI Security: Defense News: JMIC’s Role Expands to Entire CMF Operating Area

    Source: United States Navy

    To support the newly expanded JMIC mission, Royal Australian Navy Capt. Jorge McKee, Combined Task Force (CTF) 153 commander, transferred three Naval Cooperation and Guidance of Shipping (NCAGS) specialist officers to JMIC.

    McKee with JMIC Director, U.S. Navy Capt. Lee Stuart, and JMIC Deputy Director, Republic of Singapore Navy Cmdr. Andrew Sim, to transfer the officers, who are from the Royal Netherlands and Royal Norwegian navies.

    Since forming on Feb. 20, 2024, as part of Operation Prosperity Guardian (OPG), the international response to attacks on merchant mariners by Yemen-based Houthis terrorists, JMIC has enhanced understanding, information sharing and cooperation between naval and commercial shipping in the region.

    Once responsibility for OPG transferred from CTF 153 to the U.S. Navy’s Destroyer Squadron (DESRON) 50 on Feb. 1, JMIC expanded their operating area so they can provide the same level of service to the entire operating area.

    JMIC’s regular information products now include incident monitoring, reporting and security assessments for the Arabian Gulf, Gulf of Oman and Northwestern Indian Ocean in addition to the Red Sea, Gulf of Aden and Bab al-Mandab.

    “These officers have been an integral part of this task force, bringing valuable specialist commercial shipping industry expertise to inform daily operational decisions that I, and the rest of the team, have greatly appreciated,” McKee said. “We look forward to seeing their expertise benefit all CMF task forces and shipping operators across the region.”

    Stuart likened the officers to the first crew of a newly commissioned ship.

    “These officers are JMIC ‘plank owners.’” Stuart said. “They comprise the first crew of a combined unit supporting the free flow of commerce and commercial mariner safety for years to come.”

    JMIC welcomes engagement from shipping industry stakeholders via its new LinkedIn page at: https://www.linkedin.com/company/jmic

    MIL Security OSI –

  • MIL-OSI United Kingdom: Respect for Sudan’s sovereignty and territorial integrity is vital for a sustainable end to this war: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Speech

    Respect for Sudan’s sovereignty and territorial integrity is vital for a sustainable end to this war: UK statement at the UN Security Council

    Statement by Ambassador Barbara Woodward, UK Permanent Representative to the UN, at the UN Security Council meeting on Sudan.

    President, nearly two years since the start of this war, and once again I cannot fail to be struck by the reports of death and destruction. 

    More violence. More families ripped apart. More children starving. 

    Last month, my Foreign Secretary visited Adré and heard first-hand about the suffering faced by women. The suffering of sexual violence, of rape, of hunger, who had fled the conflict.

    It does not need to be this way. 

    The parties to the conflict can take actions now to end the suffering. 

    And I’d like to highlight three priorities. 

    First, we urge the parties to end their military ambitions and focus on creating the conditions for peace, including through full co-operation with UN and African Union mediation efforts. 

    We share the Secretary-General’s deep concern at the announcement by the Rapid Support Forces and affiliated civilian actors and armed groups of a political charter that expresses an intention to establish a governing authority in areas of their control.

    Deepened divisions risk even further destabilisation in Sudan and the region. 

    Respect for Sudan’s charter rights, its unity, sovereignty and territorial integrity is vital and will be necessary for a sustainable end to this war.

    In April, my Foreign Secretary will invite Foreign Ministers from some 20 states and international organisations to London, for discussions focused on supporting a peaceful way forward for the Sudanese people.

    Second, both parties must facilitate the rapid and unimpeded passage of humanitarian relief to people in need. 

    The decision by the Sudanese Armed Forces to keep the Adré border crossing open is welcome. 

    But with over 30 million people in humanitarian need, it is simply not enough. 

    We urge the SAF to open Adré permanently, and authorise the use of further regional border crossings. 

    We call on both sides to lift unnecessary bureaucratic impediments which are delaying aid deliveries by weeks, and to provide humanitarian actors with security guarantees to operate safely.

    Third, we reiterate the Council’s calls for the Rapid Support Forces to end their siege on El Fasher and cease all attacks on civilians and civilian infrastructure. 

    We call on both parties to protect civilians, in line with their obligations under the Jeddah Declaration.

    Mr President, the parties to the conflict should act now to end this suffering.

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Nations: ‘Last Chance’ to Achieve Two-State Solution, UN Mediator Tells Security Council, as Speakers Highlight Need to Sustain Gaza Ceasefire

    Source: United Nations General Assembly and Security Council

    This may be “the last chance” to achieve a two-State solution — the creation of independent Israel and Palestine coexisting peacefully side by side — a United Nations mediator told the Security Council today, as it considered the fragile ceasefire in the Gaza Strip, the first phase of which is set to expire on 1 March.

    While welcoming the implementation of this initial phase, including the release of 34 hostages, Sigrid Kaag, UN Special Coordinator for the Middle East Peace Process ad interim, added:  “None of us will forget the harrowing pictures of the coffins of the Bibas children taken hostage with their mother and killed while in captivity.” Condemning Hamas’ public parading of hostages, she also noted the release of 1,135 Palestinian prisoners and detainees, and reports of the ill treatment and humiliation they experienced.

    In Gaza, far more remains to be done to address over 15 months of deprivation of basic human necessities and “above all, a loss of human dignity”, she said, while noting some improvements in humanitarian aid access.  “Palestinians must be able to resume their lives, to rebuild and to construct their future in Gaza,” she stressed, adding that there can be no question of forced displacement.  Gaza must remain an integral part of a future Palestinian State, and the Strip must be unified with the West Bank including East Jerusalem, “politically, economically and administratively”, she said, calling on the Council to ensure continued support for the full realization of the ceasefire deal, urgent de-escalation in West Bank and support for Gaza’s recovery and reconstruction — which would cost $53 billion.

    Also briefing the Council today was Daniel Levy, President of the US/Middle East Project, who stressed that Israelis and Palestinians both deserve security, while acknowledging the “power asymmetry” between a colonizing State and a colonized people.  Recalling the Israeli ambassador’s “gimmick” of shredding the UN Charter at the General Assembly podium, he said:  “When a State like Israel conducts itself in ways that render the Charter meaningless and which assault [international] conventions, including on genocide […] then that is a challenge that cannot be allowed to pass.”

    Calling for a full ceasefire, the release of all Israeli hostages and a surge in humanitarian assistance, he cautioned:  “There is good reason to fear that this could collapse.”  In that vein, he warned against the attempt to permanently depopulate the north of Gaza, adding:  “Hamas non-governance in Gaza is achievable, the movement itself has said so.”  But, there will be resistance if the structural violence of occupation and apartheid continue.  He also cautioned against zero-sum thinking, also stressing that the unlawful forced displacement of Palestinians must not be endorsed or encouraged by any State, let alone, one of the permanent five.

    Testimony from Ex-Hostage

    “I was kidnapped by Hamas terrorists on 7 October 2023 from the Nova music festival with my partner,” recalled Noa Argamani, who also addressed the Council today.  She added that she was taken by force into Gaza and “held in total fear, living in a nightmare”.  Noting that she was rescued by Israeli soldiers after eight months in captivity, she said:  “Being here today is a miracle, but I’m here today to tell you we have no time.” There are still 63 hostages in captivity — 24 believed to still be alive — “the [ceasefire] deal must go on, in full”, she urged.

    Recalling that her captors murdered her friend, she underscored:  “Every second in captivity is dangerous.”  The Council must “not let the darkness take over”, she warned, stating that she came to the Council so that the international community understands that “the hostages are in hell” and deserve to return home immediately.

    Determined to Eradicate Hamas

    “This is the story of every hostage and every family shattered by Hamas’ terror,” said Israel’s delegate, urging the Council to adopt a resolution condemning the group — a move he argued the 15-member organ could have taken 16 months ago.  Stressing that the tragedy will not end “until each one of them is back home”, he continued: “The question now is whether this Council will help write that ending, or continue to look away.”

    “No matter what happens, our commitment to freeing all the hostages and completely eradicating Hamas is unshakeable,” he underscored. Turning to the humanitarian situation, he pointed to thousands of trucks entering Gaza every week to deliver aid and stressed:  “The only starved people in Gaza are the hostages.”  He added that “it is time to think beyond the frameworks of the past and build a new reality — one where terrorists do not hold entire communities hostage and where life is sacred once more”.

    Recordings of Gunfire at Family 

    Riyad H. Mansour, Permanent Observer for the State of Palestine, said while “nothing justifies” what happened to the Bibas family, Palestinian children are “not any less deserving of your outrage for their killing”.  He went on to play recordings of the calls made to emergency services by 15-year-old Layan Hamadeh and her 6-year-old cousin Hind Rajab — both found dead later — after their family members were shot dead while evacuating Gaza City by car. He also remembered the Palestinian parents who had to collect “what remained of their children’s bodies in plastic bags”.

    “Did you see the images of our released prisoners, often starved, with marks and scars on their bodies?”, he asked, noting that Israel subjects them to beatings and humiliating treatments.  “How many hostages were released by military actions and how many hundreds of Palestinians have perished in these military attacks that were supposed to rescue the hostages but led to the death of many of them?”, he asked, adding:  “Ceasefire works.”  The next few days is a test of Israel’s true priorities, he said.

    Support for Ceasefire’s Second Phase

    Council members stressed the need to uphold the ceasefire and reach an agreement on the second phase, which aims to establish a permanent truce.  Under this phase, Israel would fully withdraw from Gaza, while Hamas would release all remaining hostages in exchange for additional detainees.

    The representative of Sierra Leone, voiced a “renewed sense of relief and optimism” despite “the uncertainty that still looms”.  The representative of the Republic of Korea noted that the agreement shows “what firm political will can bring to the region” as Israeli hostages and Palestinian prisoners reunite with their families.  The ceasefire is also saving lives, Denmark’s delegate said, adding that it is vital that it moves to its second phase.  Georgios Gerapetritis, Minister for Foreign Affairs of Greece, added that the ceasefire will “allow planning for a more prosperous and secure ‘day after’ for the whole region”.

    The representative of France said that his country has deployed specialized personnel within the framework of the European Union Border Assistance Mission at the Rafah Crossing Point to support the ceasefire.  He also noted that his country and Saudi Arabia will co-chair an international conference for the implementation of a two-State solution in June.

    The Russian Federation’s delegate expressed concern about the “opaque monitoring mechanism”, highlighting accusations from both sides about the other side’s bad faith in the implementation of individual steps.  Somalia’s delegate said that the continued attacks, illegal arrests, settlement-expansion and excessive use of force “undermine the spirit of the ceasefire deal” and that “mediation efforts will not succeed if the aggression continues unchecked”.  If the ceasefire fails, Panama’s delegate warned, “then the human toll will be incalculable and prospects for regional peace and stability will fade further”.

    The representative of the United Kingdom welcomed improved aid supplies since the ceasefire agreement as having “demonstrated the central role of the UN and humanitarian actors, including UNRWA [United Nations Relief and Works Agency for Palestine Refugees in the Near East]”.  She also expressed concern over tightening humanitarian space, as well as the expansion of Israel’s operations killing and displacing civilians in the West Bank.

    Gaza’s Future without Hamas

    The representative of the United States expressed support for Israel’s “sovereign decision” to close UNRWA offices in Jerusalem, adding:  “UNRWA is not and never has been the only option for providing humanitarian assistance in Gaza”.  Her country stands with all hostages, she said, adding that the desecration of the remains of Shiri Bibas shows “the depth of Hamas’s cruelty”.  President Donald J. Trump has made clear that the future of Gaza must look different, she said, adding that Hamas must be fully removed from power and held accountable for its 7 October 2023 terrorist massacre.

    Save West Bank from Becoming Next Gaza

    Other speakers, however, highlighted the impact of Israel’s occupation of Palestinian territories, and the escalation of settlements and violence in the West Bank.  “Israel is not trying to return to calm,” said Kuwait’s delegate, speaking for the Arab Group.  Asking the Council if it is waiting for a repeat of the Gaza tragedy, he called on the international community to help end the occupying Power’s aggression in the West Bank and its attacks on Christian and Muslim holy sites in the Aqsa Mosque compound.

    Algeria’s delegate drew attention to the Israeli Finance Minister’s declaration that the “goal for 2025 is to demolish more than what Palestinian are building in the West Bank”.  Stressing the need to support UNRWA and empower the Palestinian Authority, he added that weakening the Authority is a deliberate strategy by the Israeli occupying Power which dreams “of a land free of Palestinians”, from the river to the sea.  Five newborn babies froze to death yesterday in a hospital in Gaza City, he noted, adding “we have no more time to waste”.  The ceasefire agreement should serve as a foundation for a durable peace plan.

    Slovenia’s delegate stressed:  “Gaza belongs to Gazans and it is an integral part of the Palestinian State.”  Pointing to the “many more steps” needed for lasting peace to persist in the Middle East, he observed:  “While peace seems to be a big word, it essentially boils down to everyday decisions to work for it.”

    “The cumulative effect of Israel’s violent occupation of Palestinian territories has entrapped the Palestinian people in a cycle of violence and poverty,” Guyana’s delegate noted.  Pakistan’s representative pointed to the forcible displacement, military raids, settler violence and illegal land annexations Israel is conducting, describing these as “ethnic cleansing in real time”.

    The representative of China, Council President for February, speaking in his national capacity, urged the international community to support the parties in moving ahead with negotiations on the second phase of the ceasefire and called on Israel to cease its military and settler activity in the West Bank, underscoring:  “The West Bank must not become the next Gaza.”

    MIL OSI United Nations News –

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

    Source: United Nations General Assembly and Security Council

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

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

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

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

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

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

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

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

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

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

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

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

    Deliberate Attacks

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

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

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

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

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

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

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

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

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

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

    Violations of the Independence of the International Civil Service

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

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

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

    MIL OSI United Nations News –

  • MIL-OSI Security: Two men convicted of murdering a man in Croydon.

    Source: United Kingdom London Metropolitan Police

    Two men have been convicted of murder as detectives appeal to the public for help to locate an outstanding suspect.

    David Walcott, 35 (18.08.89) of Turle Road, Norbury and Rammon Mali, 33 (08.12.91) of Valley Road, Croydon, were found guilty of the murder of Rijkaard Siafa on Wednesday, 26 February at the Old Bailey, following a five-week trial.

    Walcott was also found guilty of possession of an offensive weapon.

    A murder investigation was launched after police were called to reports of a man stabbed in Fellmongers Yard, Croydon on Friday, 12 April 2024.

    A number of members of the public attempted to provide first aid, before police, London Ambulance Service and London’s Air Ambulance arrived at the scene. Sadly, despite their efforts, Rijkaard died at the scene only 30 minutes later.

    In court, Walcott and Mali claimed that they were present, but were not the ones who stabbed Rijkaard. However they were unanimously found guilty of murder by the jury.

    Detective Chief Inspector Samantha Townsend, from the Met’s Specialist Crime Command, said: “Our thoughts very much remain with Rijkaard’s family and friends, who had to re-live the last traumatic moments of his young life during the trial after the defendants failed to take responsibility for their actions.

    “The defendants acted together, as a team. They had been looking for Rijkaard during the afternoon of Friday, 12 April and when they found him, they viscously attacked him. He didn’t stand a chance.”

    The court heard that on the day of the murder Rijkaard had been at a friend’s flat near Fellmongers Yard, before leaving to meet his partner. Only a few minutes after leaving the flat, he had been stabbed 13 times.

    After the attack, Walcott and Mali immediately fled the scene. They then went to a pub on nearby Katharine Street, where they ordered three pints of beer.

    As part of the investigation, officers viewed more than 100 hours of CCTV and were subsequently able to identify both Walcott and Mali.

    A fast-paced manhunt was launched and a few days later officers were able to track Walcott to an address on Lewin Road, SW16. He was arrested on Friday, 19 April 2024 and charged the following day.

    Mali fled the country on Tuesday, 16 April 2024. He was arrested at Gatwick Airport upon his return on Sunday, 5 May 2024 and charged the following day.

    They are due to be sentenced at the Old Bailey at a later date.

    Detectives are continuing to offer a reward of up to £10,000 for information that leads to the arrest and charge of Jordan Vincent, who remains wanted for Rijkaard’s murder.

    DCI Townsend, said: “Even though Walcott and Mali have been convicted for the murder of Rijkaard, our investigation continues.

    “Rijkaard was only 22 and had his full life ahead of him – our team remains resolute in helping them secure justice and need the public’s help to do so.

    “I am grateful to all those who have come forward so far but we are appealing to people to dig deep into their consciences to help us locate Jordon Vincent. If you have any information – no matter how insignificant you think it might be – I would urge you to get in contact as this could prove to be crucial.”

    Information, images or footage can be provided at Public Portal – https://mipp.police.uk/operation/01MPS24W40-PO1

    Alternatively, anyone who has information or footage can call 0208 721 4961 referencing Op Biscot. To remain 100 per cent anonymous call the independent charity Crimestoppers on 0800 555 111 or visit Crimestoppers-uk.org.

    MIL Security OSI –

  • MIL-OSI: Bank of Åland Plc: Notice to convene the Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    Bank of Åland Plc
    Notice to convene general meeting
    February 26, 2025, 17.15 EET.

    Notice to convene the Annual General Meeting

    Notice is hereby given to the shareholders of the Bank of Åland Plc (Ålandsbanken Abp) of the Annual General Meeting (AGM) to be held at 3.00 p.m. Finnish time (15.00 EET) on Tuesday, March 25, 2025 at the Alandica Kultur & Kongress auditorium, Strandgatan 33, Mariehamn, Åland, Finland.

    The reception of persons who have registered to participate in the Meeting and the distribution of voting tickets will commence at 2.00 p.m. on the above date.

    A. Matters on the agenda of the Annual General Meeting

    The following matters will be dealt with at the Meeting:

    1. Opening of the Meeting

    2. Calling the Meeting to order
    3. Election of persons to check the minutes and to supervise the counting of votes

    4. Verification of the legality of the Meeting

    5. Verification of attendance at the Meeting and adoption of the voting list

    6. Presentation of the financial statements, the Report of the Directors and the Auditors’ Report for 2024

    Managing Director’s review.

    7. Adoption of the financial statements

    8. Decision on allocation of the profit shown in the balance sheet and dividend distribution

    The Board of Directors proposes that a dividend of EUR 2.40 per share plus an extra dividend of EUR 0.35 per share shall be paid for the financial year January 1 – December 31, 2024, that the record date for dividend payment shall be Thursday, March 27, 2025 and that the payment date shall be Thursday, April 3, 2025.

    9. Decision on granting discharge from liability to the members of the Board of Directors and the Managing Director for the financial year January 1 – December 31, 2024

    10. Presentation and adoption of the compensation report

    11. Decision on the number of members on the Board of Directors

    It is proposed that the number of Board members shall be set at seven.

    12. Decision on fees for the members of the Board

    The Board of Directors proposes an unchanged annual fee for its Chairman (EUR 37,000), the Deputy Chairman (EUR 31,500) and each other Board member (EUR 29,000). The Board also proposes an unchanged fee per meeting attended for the Chairman (EUR 1,000) and for each other Board member (EUR 750).

    It shall be noted that the fee per meeting for Board members’ attendance at meetings of the committees appointed by the Board is EUR 750 per Board member and EUR 1,000 for the committee Chairman. In addition, it shall be noted that compensation for travel and accommodation expenses as well as daily subsistence allowances are paid in compliance with the instructions of tax authorities and the Bank’s travel guidelines.

    13. Election of Board members

    The Nomination Committee proposes the re-election of Board members Anders Å Karlsson, Nils Lampi, Mirel Leino-Haltia, Malin Lombardi, Christoffer Taxell, Ulrika Valassi and Anders Wiklöf for a term of office that will run until the closing of the next AGM.

    14. Decision on the auditors’ fees

    In accordance with the recommendation of the Audit Committee, the Board of Directors proposes that the auditors’ fees be paid as invoiced.

    15. Decision on the number of auditors

    The Board of Directors proposes that the number of auditors shall be unchanged, that is, one auditor.

    16. Election of auditors

    In accordance with the recommendation of the Audit Committee, the Board of Directors proposes the re-election of the authorised accounting firm of KPMG Oy Ab, with Henry Maarala (KHT) as auditor in charge, for a term of office that will run until the closing of the next AGM.

    17. Decision on the sustainability auditors’ fees

    In accordance with the recommendation of the Audit Committee, the Board of Directors proposes that the sustainability auditors’ fees be paid as invoiced.

    18. Election of sustainability auditors

    In accordance with the recommendation of the Audit Committee, the Board of Directors proposes the election of the authorised accounting firm of KPMG Oy Ab, with Henry Maarala (KHT) as auditor in charge, for a term of office that will run until the closing of the next AGM. KPMG Oy Ab has informed the Bank that certified sustainability auditor Henry Maarala will be the sustainability auditor in charge.

    19. Closing of the Meeting

    B. General Meeting documents

    The above-mentioned proposals by the Board of Directors, this notice convening the Annual General Meeting (AGM) and other documents that shall be available as provided by the Finnish Companies Act are found on the website of the Bank of Åland Plc, www.alandsbanken.fi in Swedish.

    The Board’s proposals and the accounting documents will also be available at the Company’s Head Office and at the AGM. Copies of these documents and of this notice convening the AGM will be sent to shareholders upon request.

    C. Instruction for participants in the Annual General Meeting

    1. Shareholders listed in the Company’s shareholder register

    Shareholders who were listed on March 13, 2025 (the record date for the AGM) in the Company’s shareholder register, which is maintained by Euroclear Finland Ab, are entitled to participate in the Meeting. A shareholder whose shares are registered in his or her Finnish personal book-entry securities account is listed in the Company’s shareholder register.

    Shareholders wishing to participate in the AGM must register no later than 12 noon on Thursday, March 20, 2025.

    They may register for the AGM:

    a) via the internet at the address www.alandsbanken.fi/bolagsstamma

    b) by telephone at +358 18 29 011;

    c) by letter addressed to Bank of Åland Plc, PB 3, AX-22101 Mariehamn, Åland, Finland.

    When registering, please state the shareholder’s name, personal identity code or business ID number and the name of any assistant or authorised representative and the representative’s personal identity code. These personal data will be used only for purposes attributable to the AGM and for processing of registrations related to this.

    If needed, the shareholder and his/her authorised representative must be able to prove their identity and/or authorisation at the Meeting venue.

    2. Holders of nominee-registered shares

    A holder of nominee-registered shares is entitled to participate in the AGM on the basis of the shares he or she would be entitled to be listed on March 13, 2025 (the record date for the AGM) in the Shareholder Register maintained by Euroclear Finland Ab. Participation also requires that on the basis of these shares, no later than 10.00 a.m. on March 20, 2025 the shareholder has been listed in the temporary shareholder register maintained by Euroclear Finland Ab. In the case of nominee-registered shares, this shall be counted as registration for the AGM. Changes in the shareholding after the record date for the AGM shall not affect the right to participate in the AGM or the shareholder’s number of votes.

    Registration shall be carried out by the asset manager’s account administrator no later than the above-mentioned deadline. A holder of nominee-registered shares is urged to request instructions well in advance from his or her asset manager regarding entry into the temporary shareholder register, issuance of powers of attorney and registration for the AGM. The asset manager’s account managing institution shall register the holder of nominee-registered shares who wishes to participate in the AGM in the Company’s temporary shareholder register no later than the above-mentioned deadline.

    3. Authorised representatives and powers of attorney

    Shareholders may participate in the AGM and exercise their rights at the Meeting through authorised representatives. A shareholder’s authorised representative must show a dated power of attorney or otherwise prove in a reliable manner that he or she is authorised to represent the shareholder.

    If a shareholder is represented at the Meeting by more than one authorised representatives, who represent a shareholder with shares in different book-entry securities accounts, at the time of registration the shareholder must state on the basis of which shares each authorised representative is representing the shareholder.

    Any original powers of attorney should be sent to the Bank of Åland Plc, PB 3, AX-22101 Mariehamn, Åland, Finland and be in the possession of the Company before the expiration of the registration period. Please label the envelope “Annual General Meeting” or “AGM”. Alternatively, a copy of the power of attorney may be sent by e-mail to bolagsstamma@alandsbanken.fi, in which case the original power of attorney shall be shown at the AGM.

    4. Other instructions and information

    Shareholders who attend the Meeting are entitled to ask questions concerning matters being dealt with at the Meeting, pursuant to Chapter 5, Section 25 of the Finnish Companies Act.

    On the date of this Notice convening the Annual General Meeting, the number of shares in the Bank of Åland Plc totals 6,476,138 Series A shares, which represent 129,522,760 votes, and 8,890,781 Series B shares, which represent 8,890,781 votes, or 15,366,919 shares and 138,413,541 votes in all. Each Series A share has 20 votes at the Meeting and each Series B share has one vote, but subject to the limitation on voting rights stipulated in the Articles of Association, Section 7.

    Mariehamn, February 25, 2025

    Board of Directors

    The MIL Network –

  • MIL-OSI: BlueCat appoints Peter Brennan as Chief Revenue Officer

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 26, 2025 (GLOBE NEWSWIRE) — BlueCat Networks, a leading provider of Intelligent Network Operations solutions that help organizations modernize, optimize, and secure their network infrastructure, announced Peter Brennan as its new Chief Revenue Officer (CRO).

    Brennan, who joined the company in January, is responsible for driving revenue growth and providing leadership for field teams, including sales, technical, channel, and alliances. Previously, he was the CEO for Scality, Inc., a leader in software-defined storage and data management, and the worldwide CRO for Scality, Grp.

    “BlueCat delivers important network infrastructure solutions to some of the biggest companies in the world,” said Brennan. “Our recent acquisition of LiveAction enhanced BlueCat’s industry-recognized offerings with industry leading network intelligence capabilities and I’m excited to show our prospects and customers how our technology can help them achieve their biggest goals.”

    Earlier in his career, Brennan achieved record growth over two decades in executive roles at Hewlett Packard Enterprise and VMware. “His decades of experience with infrastructure software companies, sales execution, and ability to transform go to market organizations is aligned with our mission to greatly accelerate growth and expand our reach,” said BlueCat CEO Stephen Devito. “We deliver products and services that help our customers spend less time managing the network and more time helping their businesses grow, and Peter is key to amplifying that story.”

    In October, BlueCat announced it was acquiring LiveAction, Inc., a global provider of network observability and intelligence solutions. Adding LiveAction’s industry-leading network performance monitoring, packet capture, and forensics offerings has strengthened BlueCat’s mission-critical DNS, DHCP, and IP address management (together known as DDI) and network infrastructure management solutions. Audax Private Equity is a strategic growth investor in BlueCat Networks.

    About BlueCat

    BlueCat’s Intelligent Network Operations (NetOps) provide the analytics and intelligence needed to enable, optimize, and secure the network to achieve business goals. With an Intelligent NetOps suite, organizations can more easily change and modernize the network as business requirements demand. BlueCat’s growing portfolio includes unified core network services, security and compliance, network observability and intelligence. These solutions can be deployed in hybrid or multicloud environments, in the data center, at remote or branch locations, and via SD-WAN. BlueCat’s DDI management platform was recognized as a market leader and outperformer in GigaOm’s 2024 Radar report. The company is headquartered in Toronto and New York and has additional offices in the United States, France, Germany, Iceland, Japan, Singapore, Serbia, and the United Kingdom. Learn more at bluecat.com.

    About Audax Private Equity

    Based in Boston and San Francisco, Audax Private Equity is a leading capital partner for middle and lower middle market companies that seeks to facilitate transformational growth. With approximately $19 billion of assets under management, over 250 employees, and 100-plus investment professionals, the firm has invested in more than 170 platforms and 1,250 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax helps portfolio companies execute organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value. For more information, visit audaxprivateequity.com or follow us on LinkedIn.

    The MIL Network –

  • MIL-OSI United Kingdom: First Minister to convene gathering on democracy and respect

    Source: Scottish Government

    A new initiative to unite Scotland together against extremism.

    First Minister John Swinney will convene a pivotal gathering of Scottish society to work together and unite Scotland against the “increasingly extreme far right”. 

    Representatives from key organisations across Scotland including churches, trades unions and charities will be invited to attend a gathering in April, alongside the leaders of Scotland’s parliamentary parties.

    Speaking at a press conference at Bute House, following the passage of the 2025-26 Budget, the First Minister said the new gathering will be an opportunity renew public trust in politics and unite Scotland in a common cause – “for democracy and respect.” 

    The First Minister said:

    “At the start of the year, I warned that failure to pass the budget would send a signal that Parliament and politics could not deliver. That failure would only serve the interests of an increasingly extreme far right and leave devolution dangerously exposed.

    “But the budget has passed, and a different story can be told. Yesterday’s vote demonstrated that partnership and collaboration are possible. And that is something precious, something vitally important itself.

    “But we must do more. It is time to come together to draw a line in the sand. To set out who we are and what we believe in. 

    “The threat from the far right is real. But that leaves me all the more convinced that working together is not only the right choice, but the only choice. 

    “That is why I want to share a new initiative to bring Scotland together in common cause. I want us to work together to agree a common approach to asserting the values of our country, to bringing people together and creating a cohesive society where everyone feels at home.

    “It was a mobilisation of mainstream Scotland that delivered our parliament a quarter of a century ago. And I have no doubt, it is only by mobilising mainstream Scotland that we can protect those things we care most about, those things that are most important to us today.”

    Background

    The First Minister will write to all party leaders and the leaders of civic organisations with the details of the upcoming gathering in due course. 

    A new initiative to bring Scotland together: First Minister’s speech – 26 February 2025 – gov.scot

    MIL OSI United Kingdom –

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

    Source: University of Aberdeen

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

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

    The Aberdeen researchers who received the funding are: 

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

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

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

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

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

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

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

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

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

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

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Recruitment for Policy Officer

    Source: United Kingdom – Executive Government & Departments

    News story

    Recruitment for Policy Officer

    Policy Officers work on the development and implementation of policy and legislation on veterinary medicines.

    We have a vacancy for a Policy Officer.

    Job Title

    Policy Officer

    Grade

    SEO

    Salary & Pension

    £44,500 per annum with Pension Scheme

    Annual Leave entitlement

    Commencing at 25 days

    Role

    As a Policy Officer, you will be responsible for contributing to the development and implementation of policy and legislation on veterinary medicines including medicated feeds, specified feed additives, antimicrobial resistance (AMR), and residues. This includes work on fees and charges.

    How to apply

    You must make your application via Policy Officer – Civil Service Jobs – GOV.UK where you will find a full job description.

    Closing Date

    24 March 2025

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: World Trade Organisation 2nd Trade Policy Review of Ukraine – Joint Statement

    Source: United Kingdom – Executive Government & Departments 3

    News story

    World Trade Organisation 2nd Trade Policy Review of Ukraine – Joint Statement

    At the second Trade Policy Review of Ukraine, the UK and Members from across the WTO reiterated their unwavering solidarity and support for Ukraine in a joint statement at the World Trade Organization.

    We, the delegations of the undersigned WTO Members, on the occasion of the Second Trade Policy Review of Ukraine in the WTO, held on 26 and 28 February 2025, reiterate our full support for and solidarity with the people of Ukraine. We express our deep sadness at the devastating human losses and profound suffering caused by Russia’s ongoing war of aggression against Ukraine, which continues for the fourth year in gross violation of international law and the Charter of the United Nations.

    We reaffirm our commitment to Ukraine’s sovereignty, independence, and territorial integrity and call for the Russian Federation to immediately, completely and unconditionally withdraw all of its military forces from the territory of Ukraine within its internationally recognized borders.

    Russia’s war of aggression against Ukraine continues to have devastating global and regional impacts, including on Ukraine’s economy and ability to trade. The destruction of significant parts of Ukraine’s transport routes, port infrastructure, and grain storage facilities as well as the mining of millions of hectares of agricultural land is impeding Ukraine’s ability to produce, export, and import. We are gravely concerned about the consequences of this destruction for Ukraine and for global trade, in particular with regard to the supply to international markets of a number of key commodities produced by Ukraine, including agricultural and food products, fertilisers, and critical minerals. We are also deeply concerned by reports of attacks on civilian vessels transporting agricultural goods from Ukrainian Black Sea ports and millions of tonnes of grain being plundered by Russia from illegally occupied regions of Ukraine using falsified phytosanitary certificates and hiding vessels’ data. These actions violate the principles and values of the WTO.

    Ukraine is one of the world’s top exporters of key agricultural commodities such as wheat, maize, barley, soybeans and sunflower oil. We recognise Ukraine’s determination, despite Russia’s war of aggression, to ensure global food security and supply to some of the most vulnerable parts of the world, particularly developing countries and LDCs. In this regard, the “Grain from Ukraine” initiative, which has already helped to feed 20 million people in 13 countries, continues to be an important tool to help to respond to world hunger. We praise Ukraine’s achievement of maintaining under difficult conditions food exports by its Black Sea corridor to global markets and commend the ongoing functioning of the EU Solidarity Lanes and their contribution to global food security and Ukraine’s economy. This benefits all countries, notably the most in need. In this context, it is necessary to ensure free, full, and safe navigation in the Black and Azov Seas and that sea routes and ports are not threatened or blocked by threat of or use of force.

    We underscore the need to reach, as soon as possible, a comprehensive, just, and lasting peace in Ukraine, in full respect of Ukraine’s sovereignty and territorial integrity, based on the principles of the Charter of the United Nations. We welcome Ukraine’s efforts aimed at achieving peace, including through the principles laid out in the Peace Formula and Joint Communiqué on a Peace Framework adopted at the Summit on Peace in Ukraine on Bürgenstock. We reiterate that the Russian Federation must bear the legal consequences of all of its internationally wrongful acts, including making reparation for injury and loss, including for any humanitarian, economic, and environmental damage caused by such acts.

    We will continue work to support Ukraine and to facilitate its exports and supply chains for the benefit of global food security. We encourage all WTO Members to do likewise in a manner commensurate with their capacity, including by facilitating the use of infrastructure, as well as facilitating and simplifying customs procedures. Within the capacity of each WTO Member, we will continue to provide assistance to Ukraine to alleviate the suffering of the Ukrainian people. We will also continue to look for practical ways to help and assist Ukraine in its reconstruction efforts, economic recovery, activities, and projects to overcome the negative consequences of Russia’s war of aggression.

    Albania, Australia, Canada, Chile, European Union, Georgia, Iceland, Japan, Republic of Korea, Liechtenstein, Montenegro, New Zealand, Republic of Moldova, Norway, Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, Switzerland, United Kingdom and Ukraine

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Bristol debt recovery business which didn’t hand over money is shut down

    Source: United Kingdom – Executive Government & Departments

    Press release

    Bristol debt recovery business which didn’t hand over money is shut down

    Insolvency Service investigation found that Encore Capital Group Inc Ltd failed to fully hand over the money it collected

    • Encore Capital Group Inc Ltd cold-called businesses and potential customers and then collected debts which they did not fully hand over.
    • In some instances, they falsely claimed to be regulated by the Financial Conduct Authority (FCA).
    • The company was shut down following a winding up hearing at the High Court in London on 25 February 2025.

    A Bristol-based debt recovery company which collected debts for businesses and individuals but failed to forward on all the money has been shut down.

    Encore Capital Group Inc Ltd, which traded as Encore Debt Recovery, cold-called businesses and individuals offering to recover commercial and consumer debts in return for an up-front fee or a percentage payment.

    In some instances, they falsely claimed to be regulated by the Financial Conduct Authority (FCA) – which they were not – and said they had been appointed by a court to make debt collections.

    Encore was subject to a winding up hearing held at the High Court in London on 25 February 2025.

    Edna Okhiria, Chief Investigator at the Insolvency Service, said:

    Our investigation found many aspects of Encore’s operations that were not legitimate, namely money not being fully forwarded after a debt collection and false claims to being FCA regulated.

    Encore continued to bank the money they collected, while ignoring emails and phone calls from those they had been contracted by to recover the debts.

    The Insolvency Service is grateful to those who came forward with their complaints, whose information and evidence helped us to shut down this scam business, protecting the public and economy from further financial harm.

    The apparent services offered by Encore included debt collection and County Court Judgement (CCJ) enforcements.

    The Insolvency Service identified at least 27 complainants during the investigation who said the company had collected debts on their behalf, or from them, but had failed to forward some or all the money received.  

    Encore also failed to cooperate with the investigation despite having a legal requirement to do so and did not produce any trading or accounting records, despite repeated requests.

    Encore did not have a presence at its registered office or obtain proper authorisation to use that address, despite it being a legal requirement to have an address at which official correspondence can be received.

    As well as the Insolvency Service, complaints about Encore were made to Action Fraud and Citizen’s Advice.

    All enquiries concerning the affairs of the Encore Capital Group Inc Ltd should be made to the Official Receiver of the Public Interest Unit:

    16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ.

    Email: piu.or@insolvency.gov.uk

    Further information:

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: City council response to latest waste service industrial action

    Source: City of Birmingham

    Published: Wednesday, 26th February 2025

    This is the council’s response to the latest announcement from Unite the Union on escalation of strike action.

    “This escalation of industrial action will mean greater disruption to residents – despite the fair and reasonable offer that the council made to Unite the Union. To the small number of workers whose wages are impacted ongoing by the changes to the service (of whom there are now only 40) we have already offered alternatives, including highly valuable LGV Driver Training for career progression and pay, and other roles in the council equivalent to their former roles.  No worker will lose the sums Unite are claiming.

    “Residents of Birmingham want and deserve a better waste collection service and the restructure that Unite is opposing is part of the much-needed transformation of the service.  

    “Our door is still open, and we would encourage Unite to come back to the table. 

    “We thank residents for their continued understanding and patience so far and will continue to provide up-to-date information about our plans during the industrial action.”

    Additional information  –

    • The transformation of the service means the restructuring of waste operations in line with national practice. Well over 50 councils across the country operate a waste service with a driver and two loaders so we are moving in line with national practice. 
    • The current structure was created as part of the settlement agreement following the 2017 bin strikes and is not industry standard. 
    • The restructure is a crucial part of our need to become financially sustainable and all roles have been evaluated.  
    • Claims that 150 people could lose £8,000 a year in pay are incorrect. The reality is that the number of staff that could lose the maximum amount (just over £6,000) is 17 people, they will have pay protection for six months in line with council policy.  
    • We are aware of comments regarding health and safety concerns but all our routes and working practices are fully risk-assessed and we always advise our workers to report any issues on their rounds – health and safety is everyone’s responsibility. 

    MIL OSI United Kingdom –

  • MIL-OSI: Årsrapport 2024 for Investeringsforeningen Nordea Invest

    Source: GlobeNewswire (MIL-OSI)

    Bestyrelsen for Investeringsforeningen Nordea Invest har den 26. februar 2025 godkendt årsrapporten for 2024 og indstiller den til godkendelse på den ordinære generalforsamling den 7. april 2025.

    Årsrapporten for 2024 kan downloades på www.nordeainvest.dk

    Med venlig hilsen
    Nordea Fund Management, filial af Nordea Funds Oy, Finland

    Rasmus Eske Bruun
    Filialbestyrer

    The MIL Network –

  • MIL-OSI: REMINDER: Boralex will release its 2024 fourth quarter financial results on February 28

    Source: GlobeNewswire (MIL-OSI)

    MONTREAL, Feb. 26, 2025 (GLOBE NEWSWIRE) — Boralex inc. (“Boralex” or the “Company”) (TSX: BLX) announces that the release of the 2024 fourth quarter results will take place on Friday, February 28, 2025, at 11 a.m.

    Financial analysts and investors are invited to attend a conference call during which the financial results will be presented.

    Date and time

    Friday, February 28, 2025, at 11 a.m. ET

    To attend the conference

    Webcast link: https://edge.media-server.com/mmc/p/fifq2sc5

    To attend the event by phone: Click here to register for the earnings call. Once you have completed your registration, you will receive a confirmation email containing the link and your personal PIN to connect to the call. If you lose this link and your PIN, you will be able to register again. You must register if you wish to attend the call by phone.

    Media and other interested individuals are invited to listen to the conference and view a presentation which will be broadcasted live and on a deferred basis on Boralex’s website at www.boralex.com. A full replay will also be available on Boralex’s website until February 28, 2026.

    The financial information will be released through a press release and on Boralex’s website on February 28, 2025, at 7 a.m.

    About Boralex

    At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3.1 GW. We are developing a portfolio of more than 7.2 GW in wind, solar projects and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.  

    For more information, visit boralex.com or sedarplus.com. Follow us on Facebook, LinkedIn and Instagram.  

    For more information

    Source: Boralex inc.

    The MIL Network –