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Category: France

  • MIL-OSI: International Petroleum Corporation to release Third Quarter 2024 Financial and Operational Results on November 5, 2024

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 31, 2024 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) will publish its financial and operating results and related management’s discussion and analysis for the three and nine months ended September 30, 2024, on Tuesday, November 5, 2024 at 07:30 CET, followed by an audiocast at 09:00 CET.

    Listen to William Lundin, President and CEO, and Christophe Nerguararian, CFO, commenting on the third quarter 2024 financial and operating results and the latest developments from IPC.

    Follow the presentation live starting at 09:00 CET on Tuesday, November 5, 2024 on www.international-petroleum.com or using the link/dial-in details below:

    Presentation Link: ipc.videosync.fi/2024-11-05-q3

    Dial-in numbers  Canada/USA: +1 786 697 3501
      UK: +44 33 0551 0200
      Sweden: +46 8 50520424
         
    Password Quote “IPC Q3” when prompted by the operator
       

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50

    Or

    		 Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”.

    The MIL Network –

  • MIL-OSI Asia-Pac: Participatory theatre production “Post Capitalistic Auction” allows audiences to bid for artworks in creative ways other than money (with photos)

    Source: Hong Kong Government special administrative region

    Participatory theatre production “Post Capitalistic Auction” allows audiences to bid for artworks in creative ways other than money (with photos)
    Participatory theatre production “Post Capitalistic Auction” allows audiences to bid for artworks in creative ways other than money (with photos)
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         The Asia+ Festival, presented by the Culture, Sports and Tourism Bureau and organised by the Leisure and Cultural Services Department, will stage a participatory theatre production “Post Capitalistic Auction” on November 16 and 17. In this unconventional yet authentic auction created by Mainland artist Jingyi Wang and local curator Kyle Chung, audiences can bid for their favourite artworks in new ways other than money, before taking the art pieces home. The auction comes with a pre-auction showcase and fringe activities, offering audiences multiple perspectives to contemplate the value of art.      This auction is unique in that it gives endless room for imagination: Audiences can place bids not only with money but alternative “currencies” they can think of, such as barter (in either tangible or intangible terms), a career opportunity for the artist, a deep understanding of the artwork, and more. A total of eight artworks (see Annex) will be put up for bidding in two rounds of auction. Audiences will place bids online and the process will be projected onto a big screen in real time. Eight groups of artists from France, Indonesia, Thailand and Hong Kong, China will attend in person to choose the winning bid, guided by professional advice from an expert panel.      In “Post Capitalistic Auction”, creator Wang questions if money is the only means to determine something’s value. This experiment is an attempt to explore whether changing the rules of the game can change the way people think. Curator Chung, who describes his project as an experimental performance, advises potential bidders to attend the pre-auction showcase and guided tour to learn more about the eight groups of artists and their works in advance, which may raise their chances of winning the auction.      Ever since its 2018 premiere in Bergen, “Post Capitalistic Auction” has toured Toronto and Yokohama. Previous editions have attracted many interesting bids and inspired reflections on the ecology of the art market. The upcoming Hong Kong debut is set to make waves in this city widely known as Asia’s art trading hub. Audience members who have no intention of bidding are welcome to buy tickets and join the event nonetheless.      Two rounds of auction will each feature four groups of artists, namely (November 16): Carla Chan (Hong Kong, China), Maurice Benayoun (France), Navin Rawanchaikul and daughter Mari Rawanchaikul (Thailand), and Wu Jiaru (Hong Kong, China); (November 17): Chan Wai-lap (Hong Kong, China), Leung Mee-ping (Hong Kong, China), Maryanto (Indonesia) and William Lim (Hong Kong, China).      The auction will be conducted in Cantonese, Putonghua and English, with Cantonese and English simultaneous interpretation. Each auction will be followed by a discussion session. Bidders, who must be over 18 years of age, will be asked to place bids using a smartphone or a tablet with Internet connection. During the process, bidders’ interaction with performers may be photographed, recorded or live-streamed. A vernissage will be held at 6pm on November 13 at the Hong Kong City Hall Exhibition Hall, while guided tours and an auction showcase will be held from November 14 to 18. Other fringe activities include art student roundtables and a panel discussion. For details, please refer to asiaplus.gov.hk/2024/en/post-capitalistic-auction.      Participatory theatre production “Post Capitalistic Auction” will be held at 8pm on November 16 and 3pm on November 17 at the Hong Kong City Hall Theatre. Free seating tickets priced at $420 and guided tour tickets at $60 are now available at URBTIX (www.urbtix.hk). Admission to other activities is free. For telephone bookings, please call 3166 1288, or use the mobile ticketing app “URBTIX”.      The second Asia+ Festival is running from September to November, highlighting the arts and cultures of nearly 30 Asian and Belt and Road countries or regions. Apart from stage programmes, there are also thematic exhibitions, an outdoor carnival, film screenings, outreach activities and more, numbering over 100 in total. For programme enquiries and concessionary schemes, please call 2370 1044 or visit asiaplus.gov.hk/2024/en/.

     
    Ends/Thursday, October 31, 2024Issued at HKT 17:15

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SED attends China Annual Conference & Expo for International Education in Beijing (with photo)

    Source: Hong Kong Government special administrative region

    SED attends China Annual Conference & Expo for International Education in Beijing (with photo)
    SED attends China Annual Conference & Expo for International Education in Beijing (with photo)
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         The Secretary for Education, Dr Choi Yuk-lin, today (October 31) attended the 25th China Annual Conference & Expo for International Education (CACIE) in Beijing to share Hong Kong’s experiences in promoting internationalisation and diversification of higher education, and promote the “Study in Hong Kong” Brand.           CACIE is a high-level and comprehensive platform for global educators to engage in dialogue and practical co-operation. Under the theme “Education for All, the Unknown and the Future”, this year’s Conference aims to forge a consensus on global education development and reform. Thousands of people from different countries and regions attended.           In her keynote speech at the plenary session of CACIE on Hong Kong’s efforts in promoting internationalisation and diversification in the higher education sector, Dr Choi said that Hong Kong has five universities funded by the University Grants Committee which are ranked among the world’s top 100. Coupled with a sound education infrastructure, outstanding research talent and strong research capabilities, Hong Kong’s reputable brand name of quality education is widely recognised and acknowledged both locally and globally.           “The Chief Executive’s 2024 Policy Address” announced the establishment of the Committee on Education, Technology and Talents to take forward the work of invigorating the country through science and education, and accelerate the building of an innovative talent pool. At the same time, the Government launched a number of key initiatives, including supporting capacity expansion and quality enhancement of local institutions; stepping up overseas publicity to attract more non-local students to study in Hong Kong; strengthening collaboration with universities from all over the world to broaden students’ international horizons; promoting synergistic development of higher education in Hong Kong and on the Mainland to complement each other’s strengths; and nurturing cross-disciplinary talent, and pressing ahead with the development of universities of applied sciences to create multiple pathways for young people.           She said that the Government has been actively supporting the establishment of alliances between higher education institutions in Hong Kong and on the Mainland to gather high-quality teaching and research resources, and to achieve mutual benefits through deepening co-operation among member institutions in areas such as scientific innovation and talent exchanges, thereby enhancing the level and standard of regional co-operation, and developments on different fronts.           During the Conference, Dr Choi exchanged views on the latest trends and developments in global education with other guests, including Vice Chairman of the Standing Committee of the 14th National People’s Congress Mr Ding Zhongli; the Governor of Victoria, Australia, Professor Margaret Gardner; Deputy Minister of Higher Education, Science and Innovations of Uzbekistan Mr Otabek Mahkamov; the Chief Executive Officer of the Institute of International Education in the United States, Dr Allan Goodman; and the Ambassador of France to China, Mr Bertrand Lortholary.           In addition, Dr Choi met representatives of Hong Kong post-secondary education institutions participating in the Expo to learn about the promotional efforts of publicly funded and self-financing institutions in expanding their international network and recruiting students from around the world to study in Hong Kong.???           Dr Choi will return to Hong Kong in the afternoon.

     
    Ends/Thursday, October 31, 2024Issued at HKT 17:43

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    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Diagnosed prevalent cases of primary open angle glaucoma to reach 10 million in 7MM by 2033, forecasts GlobalData

    Source: GlobalData

    Diagnosed prevalent cases of primary open angle glaucoma to reach 10 million in 7MM by 2033, forecasts GlobalData

    Posted in Pharma

    The burden of diagnosed prevalent cases of primary open angle glaucoma (POAG) (including normal tension glaucoma (NTG)) is forecast to increase at an annual growth rate (AGR) of 1% from around 9.1 million cases in 2023 to 10 million cases in 2033 in the seven major markets (7MM*), according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, ‘Glaucoma: Epidemiology Forecast to 2033’, reveals that the increase is partly attributed to increased disease awareness and improved diagnostic testing across the 7MM, combined with underlying demographic changes in the respective markets.

    In the US and 5EU markets, the average proportion of NTG among POAG is approximately 40%; however, Japanese populations are at a significantly greater risk of NTG. As such, GlobalData epidemiologists anticipate that in 2033, 91% of all POAG cases in Japan will be NTG.

    Anna Moody, MRES, Senior Epidemiologist at GlobalData, comments: “More research is needed to understand why Japanese populations are at an increased risk for NTG. Understanding the risk factors that increase susceptibility could help inform prevention strategies and disease outcomes.”

    GlobalData epidemiologists also forecast the age-specific diagnosed prevalent cases of POAG (excluding NTG) and found that the prevalence of glaucoma increased with increasing age. In 2033, the diagnosed prevalence of POAG (excluding NTG) in the 7MM is expected to be lowest from 40–49 years (0.1%), and highest in 80–84 years (2.5%). An individual’s intraocular pressure increases as they age, which explains why their risk of glaucoma also increases as they age.

    Moody concludes: “As the population of elderly people increases across the 7MM, more regular eye-testing should be encouraged in individuals over 40 years to ensure prompt diagnosis of glaucoma. Early diagnosis and treatment prevent more extreme disease outcomes, such as blindness.”

    *7MM: The US, France, Germany, Italy, Spain, the UK, and Japan

    MIL OSI Economics –

  • MIL-OSI Europe: Commission finds Française des Jeux (‘FDJ’)’s exclusive rights contain no state aid after amendments

    Source: EuroStat – European Statistics

    European Commission Press release Brussels, 31 Oct 2024 The European Commission has concluded that the increased remuneration by Française des Jeux (‘FDJ’) to France for the modification of exclusive rights to operate offline and online lottery games and offline sports betting through 2019 PACTE law is in line with EU State aid rules.

    MIL OSI Europe News –

  • MIL-OSI Economics: Christine Lagarde: Interview with Le Monde

    Source: European Central Bank

    Interview with Christine Lagarde, President of the ECB, conducted by Eric Albert, Philippe Escande and Béatrice Madeline on 28 October 2024

    31 October 2024

    In September, former ECB President Mario Draghi published an alarming report on how the European economy is falling behind. Do you agree with this assessment?

    Europe is falling behind. It’s true. And so is France. Mario Draghi’s report highlights the productivity gap, which is largely due to the tech sector. Tech players in Europe and the United States believe that the gap first emerged during the digital revolution that began in the mid-1990s.

    The question now is whether the boost that the United States got from the mid-1990s will continue with artificial intelligence, the accumulation of data centres and the exploitation of these data. This is the key issue. In Europe we need to roll up our sleeves and make an effort to keep those companies that start out here and then develop themselves elsewhere. We need to try to make them stay.

    So what is the solution? Do you think the gap will remain?

    We need to look at why Europe is falling behind. The energy component is key, especially as regards data centres. Labour is also important, with mobility being much greater in the United States. And regulation is a crucial issue, too. In overly simple terms, the United States is developing AI very quickly, and already has a number of major players. In the meantime, not only is Europe lacking such big players, but it has also become a pioneer in AI regulation. This causes players in this sector to say “OK, let’s do this elsewhere. It’ll be easier and we’ll have fewer obstacles and fewer restrictions”.

    What about the public funding provided to businesses in the United States?

    The fourth factor that is contributing to Europe falling behind is the “light” industrial policy pursued by the United States. It’s not light in terms of money because the Inflation Reduction Act of August 2022 is very large, but there are relatively few criteria to qualify for funding to start a company on US soil. When I ask manufacturers, they pretty much all agree that in Europe, the process is complicated and unwieldy. And on top of the multi-layered European system, you then have those of the Member States.

    The final factor is private funding. In the United States there are pension fund plans and other financial instruments that make it possible to channel savings and get savers (employees or retirees) interested in the future of the economy or the evolution of the stock market. In many European countries, these plans are still a long way off of those mechanisms, especially share participation and company profit sharing. Hence the need to develop a capital markets union.

    But we have been talking about this project for the past 15 years. And when Mario Draghi’s report was published, Germany immediately opposed common borrowing. Is Europe really capable of reacting?

    You’re right. We have been talking about a capital markets union since the time of Jean-Claude Juncker (President of the European Commission from 2014 to 2019), and little progress has been made. The Letta and Draghi reports are a wake-up call for Europeans, a warning. The assessment is severe but fair and provides specific recommendations. It suggests that all Europeans should gear up and be ready to give up a bit of sovereignty to ‘combine the best,’ to paraphrase what Paul Valéry once said. But what gives me hope is the engagement of all European institutions on the capital markets union. The ECB’s Governing Council is firmly engaged as well. We must use this momentum.

    In 2020, the plan for a collective European loan of €750 billion was a major step forward. Four years later, less than half of the loan has been allocated. Should we see this as another example of European slowness?

    We had exactly the same problem during the Greek crisis. The administrations of the different countries are not always able to quickly manage the incoming funds. The finance ministers of countries receiving a lot of funds tell you that they have of course identified what bridge or railway line should be constructed, but that they need to obtain local authorisations as well as permissions to expropriate property, and that environmental organisations are taking court actions. All of this takes a lot of time.

    In this context, what consequences could the US elections on Tuesday 5 November have for Europe?

    I do not want to give an opinion on any particular candidate. But US international trade policy will of course have an impact on economic activity in the rest of the world, and primarily on China. Whoever wins, if trade fragmentation worsens, the effect on global GDP will be negative, with losses reaching 9% in a severe scenario of full decoupling according to ECB simulations. But remember: when Joe Biden was elected, everyone thought that he would remove the customs barriers erected by his predecessor (Donald Trump). Nothing came of that.

    Between China, which is withdrawing towards Asia, and the United States, which is closing up again, isn’t Europe, as a partner to both powers, the big loser?

    That’s why we need to act and roll up our sleeves. Will Europe need to undergo another crisis for it to bring about reforms? It’s always in times of crisis that we are able to make things happen. That may be why Mario Draghi speaks of “agony”, it’s a way of saying “the crisis is here, now, do something!”.

    There is talk of a European decoupling. But isn’t there a French decoupling within Europe?

    If you compare today’s GDP figures with those of 2019, the United States has grown by 10.7%, the European average by 4.8% and France by 3.7%. France is lagging behind the European average.

    What is your view of the surge in the French deficit?

    The prospect of returning in line with European standards by applying European fiscal rules should serve as a binding guideline.

    And are the French promises to restore public finances credible?

    As I said, applying European fiscal rules should serve as a binding guideline.

    Will we be heading towards a recession in Europe in 2025?

    Based on the information now available and our current assessment, we don’t see a recession in 2024, nor in 2025, nor in 2026.

    What will drive this growth, given the weakness in demand?

    The two levers are exports and domestic demand, which is set to pick up. Today, with wages rising and inflation falling, disposable income is increasing. For the moment, this benefits savings more than consumption. But we are convinced, and economic history shows us, that this additional disposable income will ultimately flow towards consumption.

    How do you explain the fact that it is proving so difficult for consumption to recover?

    We can indeed ask why households are choosing to save their money instead of spending it. It could be that people are reluctant to make major purchases owing to geopolitical uncertainty. A second explanation could be related to the return on their savings, which is still fairly high in the euro area. A third could be that people are deciding it’s better to save rather than spend when they expect their taxes or other contributions to go up.

    Euro area inflation was at 1.7% in September, below your 2% target. Is it now under control?

    The target is in sight but I’m not going to tell you that inflation is defeated yet. Inflation stood at 1.7% in September. Excluding energy and food, it was still at 2.7%. We are pleased about the 1.7% figure, but we also know that inflation is going to rise again in the coming months simply because of base effects. In September energy prices were 6.1% lower than a year earlier, bringing down the cost of the consumption basket. Besides, inflation in the services sector – which is highly dependent on wages – is still at 3.9%. So, prudence is warranted.

    How do you respond to those who say the ECB was too late in reacting to the rise in inflation?

    I tell them we should look at the facts. Don’t forget that inflation was at 10.6% two years ago. It has fallen back to 1.7%. Perhaps we could have started a few months earlier. But we raised rates at the fastest pace ever and we managed to bring down inflation considerably in a short period of time. I now want to see inflation reach the 2% target on a sustained and durable basis. Unless there is a major shock, this will happen during the course of 2025.

    And what do you say to those who now accuse you of cutting rates too late and not quickly enough?

    The pace at which interest rates are cut will be determined by the economic data we receive in the coming weeks and months – based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. And to revitalise growth, urgent action is needed in the area of structural reforms.

    The spread between France and Germany has increased from 0.5% to 0.8% since the French National Assembly was dissolved. The ECB has an instrument that it can use to intervene and calm the markets. Are you ready to use it?

    We have clearly outlined the conditions under which we will use this instrument. And that is not an issue today.

    A number of emerging countries brought together by the BRICS (Brazil, Russia, India, China and South Africa) are thinking about a payments system to circumvent the dollar. Is dedollarisation happening?

    That would require another country to be able to take on the role of reserve currency. China is preparing for that, but it isn’t ready yet. I won’t see the renminbi take the place of the dollar in my lifetime.

    MIL OSI Economics –

  • MIL-OSI Global: ‘Noah’s arks’ for fruit trees: How conservation orchards preserve and boost biodiversity

    Source: The Conversation – France – By Amandine Cornille, Research associate professor, Centre national de la recherche scientifique (CNRS)

    There are wild apple orchards across France, including on the Saclay plateau south of Paris. Fourni par l’auteur

    The COP16 biodiversity conference opened on October 21, 2024. The UN conference is an opportunity to highlight that biodiversity is crucial for ensuring a sustainable food system. However, it is directly threatened by climate change and its side effects, such as the emergence of parasites. These disruptions, which reduce crop productivity and increase harvest uncertainty, threaten global food security.

    Finding solutions to save the viability of our crops is a priority. In this area, the wild relatives and varieties of currently cultivated plants offer a source of genetic diversity for coping with global changes. Indeed, for thousands of years, they have faced major environmental changes. Some wild species have thus contributed to the adaptation of cultivated plants to high altitudes and various climatic conditions.

    If we intend to rely on wild relatives to ensure crop diversification, we must characterize their diversity and ability to respond to climate change. Conservation and development programmes for diversity in agrosystems have already been initiated for annual species, such as cereals. Perennial species, like fruit trees, however, remain too neglected, even as human activities threaten their wild relatives. It is high time to come to their rescue!

    The limitations of large seed banks for protecting fruit trees

    Vavilov Institute, Saint Petersburg.
    Dag Terje Filip Endresen, CC BY-NC-ND

    Faced with the collapse of biodiversity, nearly 2,000 seed banks have been created worldwide. The oldest, a pioneer in conserving the genetic diversity of plants, was established over 100 years ago in Saint Petersburg, Russia, at the Vavilov Institute, named after the scientist who initiated these collections. Another well-known example is the Svalbard Global Seed Vault, set up in Norway in 2008. These “bunkers” are essential for preserving the genetic diversity of as many cultivated plant species and their wild relatives as possible. However, they are somewhat challenging to utilise in emergencies for certain plant species.

    While new seeds can be obtained within a year for annual cereals, fruit trees can take years to reach sexual maturity and produce flowers and pollen, which presents a major challenge. Crossbreeding wild relatives with cultivated species, necessary to introduce favourable traits such as parasite resistance or climate adaptation, is lengthy. Leveraging the genetic heritage of fruit trees to address immediate challenges requires access to genetic material from mature trees, whose traits are already known and proven under specific environmental conditions. Therefore, genetic resource “bunkers,” while crucial for preserving diversity, are insufficient for fruit trees.

    Our access to the genetic diversity of cultivated fruit trees and their wild relatives is currently limited, making it difficult to address the rapid changes occurring globally.

    Conservation orchards: the “Noah’s arks” for fruit trees

    Fruit trees have played a central role in human history through their economic and cultural value. The genetic exchanges between wild and cultivated fruit trees form the basis for the diversity of shape and taste in our fruits. The wild relatives of these cultivated fruit trees also have a significant role to play, as they have demonstrated resilience to parasites and climate change.

    Conservation orchards, or living collections, for fruit trees serve as a means to preserve genetic diversity while making it available in case of emergencies to preempt threats associated with global changes. Unlike seed banks, these collections provide immediate access to the necessary materials (pollen and flowers) for crossbreeding in varietal improvement programmes, as well as for reforestation and the conservation of wild relatives in forests.

    These conservation orchards also serve as open-air laboratories to study the response of fruit trees to climate conditions and parasite attacks, as well as the evolutionary and ecological processes that give rise to biodiversity. These spaces of genetic diversity, where different genotypes are planted over several years across a large area, also help limit the emergence of parasites by controlling their populations, thereby maintaining the delicate balance of biodiversity and ensuring dynamic agroecosystems. Finally, they act as venues for outreach and scientific mediation to raise awareness about fruit biodiversity in agroecosystems and ecosystems.

    The “poor cousins” in conservation efforts

    In France, living collections of cultivated fruit trees, housed by both research institutes and associations such as the “Croqueurs de Pommes” (munchers of apples) represent a valuable genetic heritage. In 2020, 168,400 hectares of orchards were recorded; however, wild fruit tree orchards are less documented and much rarer. This is regrettable, considering that these wild relatives are directly threatened by habitat fragmentation and gene flow from cultivated fruit trees in orchards, even though they are invaluable allies in addressing climate change.

    However, there are some notable examples, such as the conservation orchards of wild olive trees at the French National Research Institute for Agriculture, Food and Environment (INRAE) centre in Montpellier, the wild plum orchard in Lorraine, the wild apricot orchards at the INRAE centre in Bordeaux-Aquitaine, and various wild apple orchards across France including on the Saclay plateau [https://x.com/PommierVerger]. These orchards, established with the help of research institutes and local public initiatives, provide a unique opportunity to study the impact of parasite attacks and climate change on cultivated fruit trees and their wild relatives. Many more are being established across Europe, so it’s definitely something to keep an eye on!

    Screening local fruit trees to help them adapt to global changes

    Public involvement via citizen science is another way to gather information for the conservation of genetic diversity of fruit trees. Individuals can directly collect data from fruit trees near them – whether in their gardens, public parks or nearby fields – to advance research. These valuable contributions help ensure the monitoring of changes in flowering times related to climate change.

    This aligns with initiatives launched through Pl@ntNet, an application that allows users to identify plant species using a simple photo, and Tela Botanica, which connects beginners with expert botanists to assist in launching collaborative projects.

    By investing in the creation and maintenance of new orchards, strengthening collaboration among research institutes, associations and conservation organisations, and mobilising the public, one can play a role in preserving fruit biodiversity while enhancing fruit trees’ resilience to increasing environmental pressures.

    Acknowledgments: Evelyne Leterme, Henri Fourey, Mathieu Brisson, Amandine Hansart, Alexandra Detrille, Mouhammad Noormohamed, the association Les Croqueurs de Pommes, and all project collaborators and participants as well as the general public.

    Amandine Cornille (associate professor at New York University Abu Dhabi) has received funding from NYUAD, CNRS (ATIP-Avenir CNRS-Inserm), the European LEADER/FEDER program, the BNP Paribas “Climate and Biodiversity Initiative” Foundation, Institut Diversité Ecologie et Evolution du Vivant (IDEEV), Université Paris Saclay, CNRS, AgroParistech, INRAE, Center for interdisciplinary studies on biodiversity, agroecology, society and climate (C-BASC), CLand Convergence Institute and ANR.

    Karine Alix has received funding from AgroParisTech, CNRS, INRAE, ANR and IDEEV.

    – ref. ‘Noah’s arks’ for fruit trees: How conservation orchards preserve and boost biodiversity – https://theconversation.com/noahs-arks-for-fruit-trees-how-conservation-orchards-preserve-and-boost-biodiversity-242421

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Autumn Budget 2024 speech

    Source: United Kingdom – Executive Government & Departments

    Autumn Budget 2024 speech as delivered by Chancellor Rachel Reeves.

    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    Madam Deputy Speaker…

    [redacted political content]

    This government was given a mandate. 

    To restore stability to our economy… 

    … and to begin a decade of national renewal. 

    To fix the foundations… 

    … and deliver change. 

    Through responsible leadership in the national interest.  

    That is our task.  

    And I know that we can achieve it. 

    My belief in Britain burns brighter than ever.  

    And the prize on offer is immense.  

    As my Right Honourable Friend the Prime Minister said on Monday – change must be felt. 

    More pounds in people’s pockets.  

    An NHS that is there when you need it.  

    An economy that is growing, creating wealth and opportunity for all…  

    … because that is the only way to improve living standards.   

    And the only way to drive economic growth… 

    … is to invest, invest, invest.  

    There are no shortcuts. 

    And to deliver that investment… 

    … we must restore economic stability…

    [redacted political content]

    INHERITANCE

    [redacted political content]

    … it is the first Budget in our country’s history to be delivered by a woman.  

    I am deeply proud to be Britain’s first ever female Chancellor of the Exchequer.  

    To girls and young women everywhere, I say:  

    Let there be no ceiling on your ambition, your hopes and your dreams.  

    And along with the pride that I feel standing here today… 

    … there is also a responsibility… 

    … to pass on a fairer society and a stronger economy to the next  

    generation of women.

    [redacted political content]

    A black hole in the public finances… 

    Public services on their knees…. 

    A decade of low growth. 

    And the worst parliament on record for living standards. 

    Let me begin with the public finances. 

    In July, I exposed a £22bn black hole

    [redacted political content]

    The Treasury’s reserve, set aside for genuine emergencies… 

    … spent three times over… 

    … just three months into the financial year.  

    Today, on top of the detailed document that I have provided to the House in July… 

    … the government is publishing a line by line breakdown of the £22bn black hole that we inherited… 

    It shows hundreds of unfunded pressures on the public finances… 

    … this year, and into the future too.  

    The Office for Budget Responsibility have published their own review of the circumstances around the Spring Budget forecast.  

    They say that the previous government – and I quote – “did not provide the OBR with all the [available] information to them”… 

    … and – had they known about these “undisclosed spending pressures that have since come to light”… 

    … then their Spring Budget forecast for spending would have been, and I quote again: “materially different”.  

    Let me be clear: that means any comparison between today’s forecast and the OBR’s March forecast is false… 

    … because the party opposite hid the reality of their public spending plans. 

    Yet at the very same budget… 

    … they made another ten billion pounds worth of cuts to National Insurance.

    [redacted political content]

    That’s why today, I can confirm that we will implement in full… 

    … the 10 recommendations from the independent Office for Budget Responsibility’s review. 

    But, the country has inherited not just broken public finances… 

    … but broken public services too. 

    The British people can see and feel that in their everyday lives. 

    NHS waiting lists at record levels. 

    Children in portacabins as school roofs crumble. 

    Trains that do not arrive. 

    Rivers filled with polluted waste.  

    Prisons overflowing. 

    Crimes which are not investigated… 

    … and criminals who are not punished.  

    That is the country’s inheritance

    Since 2021, there had been no detailed plans for departmental spending set out beyond this year.  

    And [redacted political content] plans relied on a baseline for spending this year which we now know was wrong… 

    … because it did not take into account the £22bn black hole.  

    The previous government also failed to budget for costs which they knew would materialise.  

    That includes funding for vital compensation schemes…  

    … for victims of two terrible injustices…

    [redacted political content]

    … the infected blood scandal… 

    … and the Post Office Horizon scandal.  

    The Leader of the Opposition rightly made an unequivocal apology for the injustice of the infected blood scandal on behalf of the British state… 

    … but he did not budget for the costs of compensation.  

    Today, for the very first time, we will provide specific funding to compensate those infected and those affected, in full… 

    … with £11.8bn in this budget. 

    And I am also today setting aside £1.8bn to compensate victims of the Post Office Horizon scandal… 

    … redress that is long overdue for the pain and injustice that they have suffered.

    [redacted political content]

    … and we will restore stability to our country again. 

    The scale and seriousness of the situation that we have inherited cannot be underestimated. 

    Together, the hole in our public finances this year, which recurs every year… 

    … the compensation schemes that they did not fund… 

    … and their failure to assess the scale of the challenges facing our public services… 

    … means this budget raises taxes by £40bn. 

    Any Chancellor standing here today would have to face this reality. 

    And any responsible Chancellor would take action. 

    That is why today, I am restoring stability to our public finances… 

    … and rebuilding our public services.  

    FISCAL RULES / OBR FORECASTS 

    Economy forecast/growth 

    As a former economist at the Bank of England, I know what it means to respect our economic institutions.  

    I want to put on record my thanks to the Governor of the Bank, Andrew Bailey…  

    … and to the independent Monetary Policy Committee. 

    Today, I can confirm that we will maintain the MPC’s target of two per cent inflation, as measured by the 12-month increase in the Consumer Prices Index. 

    I want to thank James Bowler, the Permanent Secretary to the Treasury, and my team of officials. 

    Madam Deputy Speaker, I would also like to thank my predecessors as Chancellor of the Exchequer… 

    … for their wise counsel as I have prepared for this Budget.

    [redacted political content]

    Finally, I want to thank Richard Hughes and his team at the Office for Budget Responsibility for their work in preparing today’s economic and fiscal outlook. 

    Let me now take the House through that forecast. 

    The cost of living crisis under the last government stretched household finances to their limit, with inflation hitting a peak of above 11%.  

    Today, the OBR say that CPI inflation will average 2.5% this year, 2.6% in 2025, then 2.3% in 2026, 2.1% in 2027, 2.1% in 2028 and 2.0% in 2029.  

    Next, I move on to economic growth.  

    Today’s budget marks an end to short-termism.  

    So I am pleased, that for the first time, the OBR have published not only five year growth forecasts… 

    … but a detailed assessment of the growth impacts of our policies over the next decade, too… 

    … and the new Charter for Budget Responsibility, which I am publishing today, confirms that this will become a permanent feature of our framework. 

    The OBR forecast that real GDP growth will be 1.1% in 2024, 2.0% in 2025, 1.8% in 2026, 1.5% in 2027, 1.5% in 2028 and 1.6% in 2029. 

    And the OBR are clear: this Budget will permanently increase the supply capacity of the economy…

    [redacted political content]

    … boosting long-term growth. 

    Every Budget I deliver will be focused on our mission to grow the economy. 

    And underpinning that mission are the seven key pillars of our growth strategy… 

    … developed and delivered alongside business…  

    … all driven forward by our Financial Secretary to the Treasury.   

    First, and most important, is to restore economic stability. That is my focus today. 

    Second, increasing investment and building new infrastructure is vital for productivity, so we are catalysing £70bn of investment through our National Wealth Fund… 

    … and we are transforming our planning rules to get Britain building again. 

    Third, to ensure that all parts of the UK can realise their potential… 

    … we are working with the devolved governments… 

    … and partnering with our Mayors to develop local growth plans.  

    Fourth, to improve employment prospects and skills we are creating Skills England, delivering our plans to Make Work Pay and tackling economic inactivity.  

    Fifth, we are launching our long-term modern industrial strategy and expanding opportunities for our small and medium sized businesses to grow. 

    Sixth, to drive innovation we are protecting record funding for research and development to harness the full potential of the UK’s science base.  

    And finally, to maximise the growth benefits of our clean energy mission, we have confirmed key investments such as Carbon Capture and Storage to create jobs in our industrial heartlands. 

    Our approach is already having an impact. 

    Just two weeks ago – we delivered an International Investment Summit which saw businesses commit £63.5bn of investment into this country… 

    … creating nearly 40,000 jobs across the United Kingdom.

    [redacted political content]

    Economic growth will be our mission for the duration of this parliament.  

    Stability rule 

    Madam Deputy Speaker, in our manifesto, we set out the fiscal rules that would guide this government. 

    I am confirming those today… 

    Our stability rule… 

    And our investment rule… 

    The “stability rule” means that we will bring the current budget into balance… 

    … so that we do not borrow to fund day to day spending. 

    We will meet this rule in 2029-30, until that becomes the third year of the forecast.  

    From then on, we will balance the current budget in the third year of every budget, held annually each autumn. 

    That will provide a tougher constraint on day to day spending… 

    … so difficult decisions cannot be constantly delayed or deferred.  

    The OBR say that the current budget will be in deficit by £26.2bn in 2025-26 and £5.2bn in 2026-27… 

    … before moving into surplus of £10.9bn in 2027-28, £9.3bn in 2028-29 and £9.9bn in 2029-30… 

    … meeting our stability rule… 

    … two years early.  

    Monthly public sector finances data shows that government borrowing in the first six months of this year… 

    … was already running significantly higher than the OBR’s March forecast. 

    And so the OBR confirmed today, that borrowing in this financial year is now £127bn…

    [redacted political content]

    The increase in the net cash requirement in 24-25 is lower than the increase in borrowing, at £22.3bn higher than the spring forecast.  

    Because of the action that we are taking… 

    … borrowing falls from 4.5% of GDP this year to 2.1% of GDP by the end of the forecast. 

    Public sector net borrowing will be £105.6bn in 2025-26, £88.5bn in 2026-27, £72.2bn in 2027-28, £71.9bn in 2028-29 and £70.6bn in 2029-2930. 

    FIXING THE FOUNDATIONS 

    Spending  

    Madam Deputy Speaker, before I come to tax… 

    … it is vital that we are driving efficiency and reducing wasteful spending. 

    In July, to begin delivering, and dealing with our inheritance… 

    … I made £5.5bn of savings this year.  

    Today we are setting a 2% productivity, efficiency and savings target for all departments to meet next year… 

    … by using technology more effectively and joining up services across government 

    As set out in our manifesto, I will shortly be appointing our Covid Corruption Commissioner, they will lead our work to uncover those companies that used a national emergency to line their own pockets. 

    Because that money belongs in our public services. And taxpayers want that money back.  

    And I can confirm today that David Goldstone has been appointed as the Chair of the new Office for Value for Money…  

    … to help us realise the benefits from every pound of public spending. 

    Welfare 

    Today, I am also taking three steps to ensure that welfare spending is more sustainable.  

    First, we inherited [redacted political content] plans to reform the Work Capability Assessment.  

    We will deliver those savings…  

    …as part of our fundamental reforms to the health and disability benefits system that my Right Honourable Friend the Work and Pensions Secretary will bring forward. 

    Second, I can today announce a crackdown on fraud in our welfare system… 

    … often the work of criminal gangs.  

    We will expand DWP’s counter-fraud teams.. 

    … using innovative new methods to prevent illegal activity…  

    … and provide new legal powers to crackdown on fraudsters… 

    … including direct access to bank accounts to recover debt. 

    This package saves £4.3bn a year by the end of the forecast. 

    Third, the government will shortly be publishing the “Get Britain Working” white paper…  

    … tackling the root causes of inactivity with an integrated approach across health, education and welfare.  

    … and we will provide £240m for 16 trailblazer projects… 

    … targeted at those who are economically inactive and most at risk of being out of education, employment or training… 

    … to get people into work and reduce the benefits bill.  

    Tax avoidance 

    Before a government could consider any change to a tax rate or threshold… 

    … it must ensure that people pay what they already owe. 

    So we will invest to modernise HMRC’s systems using the very best technology… 

    … and recruit additional HMRC compliance and debt staff. 

    We will clamp down on those umbrella companies who exploit workers… 

    … increase the interest rate on unpaid tax debt to ensure that people pay on time… 

    … and go after promoters of tax avoidance schemes. 

    These measures to reduce the tax gap raise £6.5bn by the end of the forecast… 

    … and I want to thank the Exchequer Secretary for his outstanding work on this agenda. 

    PROTECTING WORKING PEOPLE 

    Madam Deputy Speaker, I know that for working people up and down our country… 

    … family finances are stretched… 

    … and pay checks don’t go as far as they once did. 

    So today, I am taking steps to support people with the cost of living. 

    Cost of living

    [redacted political content]

    As promised in our manifesto, we asked the Low Pay Commission to take account of the cost of living for the first time.  

    I can confirm that we will accept the Low Pay Commission recommendation to increase the National Living Wage by 6.7% to £12.21 an hour… 

    … worth up to £1,400 a year for a full-time worker. 

    And for the first time, we will move towards a single adult rate…  

    … phased in over time…  

    … by initially increasing the National Minimum Wage for 18-20 year olds by 16.3% as recommended by the Low Pay Commission… 

    … taking it to £10 an hour.

    [redacted political content]

    Second, I have heard representations from colleagues across this house about the Carer’s Allowance… 

    … and the impact of the current policy on carers looking to increase the hours they work… 

    … including from the Honourable member for Shipley, the Honourable member for Scarborough and Whitby and the Rt Hon Member for Kingston and Surbiton, too. 

    Carer’s allowance currently provides up to £81.90 per week to help those with additional caring responsibilities.  

    Today, I can confirm that we are increasing the weekly earnings limit to the equivalent of 16 hours at the National Living Wage per week… 

    … the largest increase in Carer’s Allowance since it was introduced in 1976.  

    That means a carer can now earn over £10,000 a year while receiving Carer’s Allowance… 

    … allowing them to increase their hours where they want to… 

    … and keep more of their money. 

    I am also concerned about the cliff-edge in the current system and the issue of overpayments. 

    My Right Honourable Friend the Work and Pensions Secretary has announced an independent review to look at the issue of overpayments, and we will work across this house to develop the right solutions. 

    Third, we will provide £1bn from next year to extend the Household Support Fund and Discretionary Housing Payments, to help those facing financial hardship with the cost of essentials.  

    Fourth, having heard representations from the Joseph Rowntree Foundation, Trussell and others… 

    … to reduce the level of debt repayments that can be taken from a household’s Universal Credit payment each month… 

    … by reducing it from 25% to 15% of their standard allowance. 

    This means that 1.2 million of the poorest households will keep more of their award each month… 

    … lifting children out of poverty…  

    … and those who benefit will gain an average of £420 a year. 

    Madam Deputy Speaker, our Plan to Make Work Pay will also protect working people.

    [redacted political content]

    It is right that we protect those who have worked their whole lives.  

    In our manifesto, we promised to transfer the Investment Reserve Fund in the Mineworkers’ Pension Scheme to members… 

    … and I have listened closely to my Honourable Friends for Easington, Doncaster Central, Blaenau Gwent, and Ayr, Carrick and Cumnock on this issue. 

    Today we are keeping our promise…  

    … so that working people who powered our country receive the fair pension that they are owed. 

    Our manifesto committed to the Triple Lock… 

    … meaning spending on the State Pension is forecast to rise by over £31bn by 2029-30… 

    … to ensure that our pensioners are protected in their retirement.  

    This commitment means that while working age benefits will be uprated in line with CPI, at 1.7%… 

    … the basic and new State Pension… 

    … will be uprated by 4.1% in 2025-26. 

    This means that over 12 million pensioners will gain up to £470 next year… 

    … up to £275 more than if uprated by inflation.  

    The Pension Credit Standard Minimum Guarantee will also rise by 4.1%…  

    … from around £11,400 per year to around £11,850 for a single pensioner.  

    Fuel duty 

    While I have sought to protect working people with measures to reduce the cost of living… 

    … I have had to take some very difficult decisions on tax. 

    I want to set out my approach to fuel duty.  

    Baked into the numbers that I inherited from the previous government… 

    … is an assumption that fuel duty will rise by RPI next year… 

    … and that the temporary 5p cut will be reversed.  

    To retain the 5p cut… 

    … and to freeze fuel duty again… 

    … would cost over £3bn next year.  

    At a time when the fiscal position is so difficult…  

    … I have to be frank with the House that this is a substantial commitment to make. 

    I have concluded… 

    … that in these difficult circumstances… 

    … while the cost of living remains high… 

    … and with a backdrop of global uncertainty… 

    … increasing fuel duty next year… 

    … would be the wrong choice for working people. 

    It would mean fuel duty rising by 7p per litre. 

    So, I have today decided to freeze fuel duty next year… 

    … and I will maintain the existing 5p cut for another year, too. 

    There will be no higher taxes at the petrol pumps next year.

    Madam Deputy Speaker, the last government made cuts of £20bn to employees’ and self-employed national insurance in their final two budgets.

    [redacted political content]

    Because we now know they were based on a forecast which the OBR say would have been “materially different”… 

    … had they known the true extent of the last government’s cover-up.   

    Since July, I have been urged on multiple occasions to reconsider these cuts.  

    To increase the taxes that working people pay and see in their payslips. 

    But I have made an important choice today: 

    To keep every single commitment that we made on tax in our manifesto.  

    So I say to working people: 

    I will not increase your National Insurance… 

    …I will not increase your VAT… 

    …And I will not increase your income tax. 

    Working people will not see higher taxes in their payslips as a result of the choices I make today. 

    That is a promise made – and a promise fulfilled. 

    TAX 

    But any responsible Chancellor would need to take difficult decisions today. 

    To raise the revenues required to fund our public services. 

    And to restore economic stability.  

    So in today’s Budget, I am announcing an increase in Employers’ National Insurance Contributions.  

    We will increase the rate of Employers’ National Insurance by 1.2 percentage points, to 15%, from April 2025.  

    And we will reduce the Secondary Threshold – the level at which employers start paying national insurance on each employee’s salary – from £9,100 per year to £5,000.  

    This will raise £25bn per year by the end of the forecast period.  

    I know that this is a difficult choice. 

    I do not take this decision lightly.  

    We are asking business to contribute more… 

    … and I know that there will be impacts of this measure felt beyond businesses, too… 

    … as the OBR have set out today. 

    But in the circumstances that I have inherited, it is the right choice to make.  

    Successful businesses depend on successful schools. 

    Healthy businesses depend on a healthy NHS.  

    And a strong economy depends on strong public finances.

    [redacted political content]

    That is the choice our country faces too.  

    As I make this choice, I know it is particularly important to protect our smallest companies.  

    So having heard representations from the Federation of Small Businesses and others… 

    … I am today increasing the Employment Allowance from £5,000 to £10,500. 

    This means 865,000 employers won’t pay any National Insurance at all next year… 

    … and over 1 million will pay the same or less than they did previously. 

    This will allow a small business to employ the equivalent of 4 full time workers on the National Living Wage… 

    … without paying any National Insurance on their wages. 

    Madam Deputy Speaker, let me come now to capital gains tax. 

    We need to drive growth, promote entrepreneurship, and support wealth creation… 

    … while raising the revenue required to fund our public services… 

    … and restore our public finances.  

    Today, we will increase the lower rate of Capital Gains Tax from 10% to 18%, and the Higher Rate from 20% to 24%… 

    … while maintaining the rates of capital gains tax on residential property at 18% and 24%, too.  

    This means the UK will still have the lowest Capital Gains Tax rate of any European G7 economy. 

    Alongside these changes to the headline rates of Capital Gains Tax… 

    … we are maintaining the lifetime limit for Business Asset Disposal Relief at £1m… 

    … to encourage entrepreneurs to invest in their businesses.   

    Business Asset Disposal Relief will remain at 10% this year… 

    … before rising to 14% in April 2025… 

    … and 18% from 2026-27… 

    … maintaining a significant gap compared to the higher rate of Capital Gains Tax.  

    Together, the OBR say these measures will raise £2.5bn by the end of the forecast. 

    In a sign of this government’s commitment to supporting growth and entrepreneurship… 

    …we have already extended the Enterprise Investment Scheme and Venture Capital Trust schemes to 2035… 

    … and we will continue to work with leading entrepreneurs and venture capital firms… 

    … to ensure our policies support a positive environment for entrepreneurship in the UK. 

    Next, inheritance tax. 

    Only 6% of estates will pay inheritance tax this year. 

    I understand the strongly held desire to pass down savings to children and grandchildren. 

    So I am taking a balanced approach in my package today. 

    First, the previous government froze inheritance tax thresholds until 2028. I will extend that freeze for a further two years, until 2030. 

    That means the first £325,000 of any estate can be inherited tax-free… 

    … rising to £500,000 if the estate includes a residence passed to direct descendants…. 

    … and £1m when a tax free allowance is passed to a surviving spouse or civil partner. 

    Second, we will close the loophole created by the previous government… 

    … made even bigger when the Lifetime Allowance was abolished… 

    … by bringing inherited pensions into inheritance tax from April 2027. 

    Finally, we will reform Agricultural Property Relief and Business Property Relief.  

    From April 2026, the first £1m of combined business and agricultural assets will continue to attract no inheritance tax at all… 

    … but for assets over £1m, inheritance tax will apply with 50% relief, at an effective rate of 20%. 

    This will ensure we continue to protect small family farms… 

    … and three-quarters of claims will be unaffected by these changes. 

    I can also announce that we will apply a 50% relief, in all circumstances, on inheritance tax for shares on the Alternative Investment Market (AIM) and other similar markets… 

    … setting the effective rate of tax at 20%. 

    Taken together, these measures raise over £2bn in the final year of the forecast. 

    Next, I can confirm that the government will renew the Tobacco Duty escalator for the remainder of this Parliament at RPI+2%… 

    … increase duty by a further 10% on hand-rolling tobacco this year… 

    … introduce a flat rate duty on all vaping liquid from October 2026… 

    … alongside an additional one off- increase in tobacco duty to maintain the incentive to give up smoking. 

    And we will increase the Soft Drinks Industry Levy to account for inflation since it was introduced… 

    …  as well as increasing the duty in line with CPI each year going forward. 

    These measures will raise nearly £1bn per year by the end of the forecast period. 

    Madame Deputy Speaker, we want to support the take-up of electric vehicles. 

    So I will maintain incentives for electric vehicles in Company Car Tax from 2028… 

    … and increase the differential between fully electric and other vehicles in the first year rates of Vehicle Excise Duty from April 2025. 

    These measures will raise around £400m by the end of the forecast period. 

    Madam Deputy Speaker let me update the House on our plans for Air Passenger Duty…

    [redacted political content]

    Air Passenger Duty has not kept up with inflation in recent years… 

    … so we are introducing an adjustment… 

    … meaning an increase of no more than £2 for an economy class short-haul flight.  

    But I am taking a different approach when it comes to private jets…  

    … increasing the rate of Air Passenger Duty by a further 50%.

    [redacted political content]

    These measures will raise over £700m by the end of the forecast period. 

    Madam Deputy Speaker, let me turn now to our high street businesses.  

    I know that for them, a major source of concern is business rates.  

    From 2026-27, we intend to introduce two permanently lower tax rates for retail, hospitality and leisure properties which make up the backbone of high streets across the country… 

    … and it is our intention that is paid for by a higher multiplier for the most valuable properties.

    [redacted political content]

    So I will today provide 40% relief on business rates for the retail, hospitality and leisure industry in 2025-26… 

    … up to a cap of £110,000 per business. 

    Alongside this, the small business tax multiplier will be frozen next year.  

    Next, I can confirm that alcohol duty rates on non-draught products will increase in line with RPI from February next year… 

    … but nearly two-thirds of alcoholic drinks sold in pubs are served on draught. 

    So today, instead of uprating these products in line with inflation… 

    … I am cutting draught duty by 1.7%… 

    … which means a penny off a pint in the pub. 

    Alongside the changes I am making today, I am publishing a Corporate Tax Roadmap.. 

    … providing the business certainty called for by the CBI, British Chambers of Commerce and the Institute for Directors. 

    This confirms our commitment to cap the rate of Corporation Tax at 25% – the lowest in the G7 –  for the duration of this parliament…. 

    … while maintaining full expensing and the £1 million Annual Investment Allowance… 

    …and keeping the current rates of research and development reliefs, to drive innovation. 

    Manifesto 

    Madam Deputy Speaker, in our manifesto we made a number of commitments to raise funding for our public services.  

    First, I have always said that if you make Britain your home, you should pay your tax here. 

    So today, I can confirm… 

    … we will abolish the non-dom tax regime… 

    … and remove the outdated concept of domicile from the tax system from April 2025. 

    We will introduce a new, residence based scheme… 

    … with internationally competitive arrangements for those coming to the UK on a temporary basis… 

    … while closing the loopholes in the scheme designed by the party opposite. 

    To further encourage investment into the UK, we will also extend the Temporary Repatriation Relief to three years and expand its scope… 

    … bringing billions of pounds of new funds into Britain. 

    The independent Office for Budget Responsibility say that this package of measures will raise £12.7bn over the next five years.  

    Next, the fund management industry provides a vital contribution to our economy… 

    …  but as our manifesto set out, there needs to be a fairer approach to the way carried interest is taxed.  

    So we will increase the Capital Gains Tax rates on carried interest to 32% from April 2025… 

    … and – from April 2026 – we will deliver further reforms to ensure that the specific rules for carried interest are simpler, fairer and better targeted. 

    In our manifesto we committed to reforming stamp duty land tax to raise revenue while supporting those buying their first home.  

    We are increasing the stamp-duty land tax surcharge for second-homes… 

    …known as the “Higher Rate for Additional Dwellings”… 

    … by 2 percentage points, to 5%, which will come into effect from tomorrow.  

    This will support over 130,000 additional transactions from people buying their first home, or moving home over, the next five years. 

    Next, we committed to reform the Energy Profits Levy on oil and gas companies. 

    I can confirm today that we will increase the rate of the levy to 38%, which will now expire in March 2030… 

    … and we will remove the 29% investment allowance. 

    To ensure the oil and gas industry can protect jobs and support our energy security… 

    … we will maintain the 100% first year allowances and the decarbonisation allowances too.  

    Finally, 94% of children in the UK attend state schools. 

    To provide the highest quality of support and teaching that they deserve… 

    … we will introduce VAT on private school fees from January 2025… 

    … and we will shortly introduce legislation to remove their business rates relief from April 2025, too.  

    We said in our manifesto that these changes… 

    … alongside our measures to tackle tax avoidance… 

    … would bring in £8.5bn by the final year of the forecast. 

    I can confirm today that they will in fact raise over £9bn… 

    … to support our public services and restore our public finances. 

    That is a promise made – and a promise fulfilled. 

    Madam Deputy Speaker, I have one final decision to take on tax today. 

    The previous government froze income tax and National Insurance thresholds in 2021… 

    … and then they did so again after the mini-budget. 

    Extending their threshold freeze for a further two years raises billions of pounds.  

    Money to deal with the black hole in our public finances…  

    … and repair our public services.  

    Having considered this issue closely… 

    … I have come to the conclusion… 

    … that extending the threshold freeze… 

    … would hurt working people. 

    It would take more money out of their payslips.

    I am keeping every single promise on tax that I made in our manifesto. 

    So there will be no extension of the freeze in income tax and National Insurance thresholds beyond the decisions of the previous government.  

    From 2028-29, personal tax thresholds will be uprated in line with inflation once again.

    When it comes to choices on tax, this government chooses to protect working people every single time.  

    SPENDING 

    Madam Deputy Speaker, these are the choices I have made. 

    To restore economic stability. 

    And to protect working people.  

    The next choice I make is to begin to repair our public services.  

    In recent months, we have conducted the first phase of the Spending Review… 

    … to set departmental budgets for 2024-25 and 2025-26… 

    … and I want to thank my Right Honourable Friend the Chief Secretary to the Treasury for his tireless work with colleagues from across government.  

    Because I have taken difficult decisions on tax today… 

    … I am able to provide an injection of immediate funding over the next two years… 

    … to stabilise and to support our public services.  

    The next phase of the Spending Review will report in late Spring, and I have set the overall envelope today. 

    Day to day spending from 2024-25 onwards will grow by 1.5% in real terms… 

    … and total departmental spending, including capital spending, will grow by 1.7% in real terms. 

    At the election we promised there would be no return to austerity.  

    Today we deliver on that promise. 

    But given the scale of the challenges that are facing our public services… 

    … that means there will still be difficult choices in the next phase of the Spending Review. 

    Just as we cannot tax and spend our way to prosperity… 

    … nor can we simply spend our way to better public services.  

    So we will deliver a new approach to public service reform… 

    … using technology to improve public services… 

    … and taking a zero-based approach… 

    … so that taxpayers’ money is spent as effectively as possible…  

    … and so that we focus on delivering our key priorities.  

    Spending Review: Phase 1 

    In the first phase of the Spending Review… 

    … I have prioritised day-to-day funding to deliver on our manifesto commitments. 

    I want every child to have the best start in life… 

    … and the best possible start to the school day, too… 

    … and I know my Right Honourable Friend the Education Secretary shares my ambition.  

    So I am today tripling investment in breakfast clubs to fund them in thousands of schools.  

    I am increasing the core schools budget by £2.3bn next year… 

    … to support our pledge to hire thousands more teachers into key subjects.   

    So that our young people can develop the skills that they need for the future… 

    … I am providing an additional £300m for further education. 

    And finally, this government is committed to reforming special educational needs provision… 

    … to improve outcomes for our most vulnerable children and ensure the system is financially sustainable. 

    To support that work, I am today providing a £1bn uplift in funding, a 6% real terms increase from this year.  

    There is no more important job for government than to keep our country safe, and we are conducting a Strategic Defence Review to be published next year. 

    And as set out in our manifesto, we will set a path to spending 2.5% of GDP on defence at a future fiscal event. 

    Today, I am announcing a total increase to the Ministry of Defence’s Budget of £2.9bn next year… 

    … ensuring the UK comfortably exceeds our NATO commitments…  

    … and providing guaranteed military support to Ukraine of £3bn per year, for as long as it takes. 

    Last week, alongside my Right Honourable Friend the Defence Secretary, I announced, in addition to this, further support to Ukraine – on top of our NATO commitment…  

    … through our £2.26bn contribution to the G7’s Extraordinary Revenue Acceleration agreement… 

    … repaid using profits from immobilised Russian sovereign assets. 

    And as we approach Remembrance Sunday…  

    … it is vital that we take time to remember those who have served our country so bravely.  

    So I am today announcing funding to commemorate the 80th anniversary of VE and VJ day next year… 

    … to honour those who have served at home and abroad. 

    We must also remember those who experienced the atrocities of the Nazi regime first hand.  

    I would like to pay tribute to Lily Ebert, the Holocaust Survivor and educator who passed away aged 100 earlier this month.  

    I am today committing a further £2m to holocaust education next year… 

    … so that charities like the Holocaust Educational Trust, can continue their work to ensure these vital testimonies are not lost and are preserved for the future. 

    Madam Deputy Speaker, to repair our public services we also need to work alongside our mayors and our local leaders. 

    We will deliver a significant real-terms funding increase for local government next year…  

    … including £1.3bn of additional grant funding to deliver essential services… 

    … with at least £600m in grant funding for social care…  

    … and £230m to tackle homelessness and rough sleeping 

    We are today confirming that Greater Manchester and the West Midlands will be the first mayoral authorities to receive integrated settlements from next year… 

    … giving Mayors meaningful control of the funding for their local areas. 

    * 

    And to support our local high streets… 

    … we are taking action to deal with the sharp rise in shoplifting we have seen in recent years. 

    We will scrap the effective immunity for low-value shoplifting introduced by the party opposite. 

    And having listened closely to organisations like the British Retail Consortium and USDAW… 

    … I am providing additional funding to crack down on the organised gangs which target retailers… 

     … and to provide more training to our police officers and retailers to help stop shoplifting in its tracks.  

    Finally, I am today providing funding to support public services and drive growth across Scotland, Wales and Northern Ireland.  

    Having discussed the matter with the First Minister of Wales, Eluned Morgan, and my HFs for Llanelli and Pontypridd… 

    … I am providing a £25m to the Welsh Government next year for the maintenance of coal tips to ensure we keep our communities safe.  

    And to support growth, including in our rural areas, we will proceed with City and Growth Deals in Northern Ireland… 

    … in Causeway Coast and Glens; and Mid-South West.

    And we will drive growth in Scotland [redacted political content] including a City and growth Deal in Argyll and Bute.

    This budget provides the devolved governments with the largest real-terms funding settlement since devolution… 

    … delivering an additional £3.4 billion for the Scottish Government through the Barnett formula… 

    … funding which must now be spent effectively to improve public services in Scotland.  

    This budget also provides £1.7 billion to the Welsh Government… 

    …  and £1.5 billion to the Northern Ireland Executive in 2025-26. 

    I said there would be no return to austerity, and that is the choice I have made today.  

    REBUILDING BRITAIN 

    Madam Deputy Speaker, to rebuild our country we need to increase investment. 

    The UK lags behind every other G7 country when it comes to business investment as a share of our economy. 

    That matters.  

    It means the UK has fallen behind in the race for new jobs… 

    … new industries… 

    … and new technology.  

    By restoring economic stability… 

    … and by establishing the National Wealth Fund to catalyse private funding… 

    … we have begun to create the conditions that businesses need to invest.  

    But there is also a significant role for public investment.

    Hospitals without the equipment they need.  

    School buildings not fit for our children.  

    A desperate lack of affordable housing. 

    Economic growth held back at every turn.  

    Under the plans I inherited… 

    … public investment was set to fall from 2.5% to 1.7% of GDP.  

    But in Washington last week, the International Monetary Fund were clear:  

    More public investment is badly needed in the UK.  

    So today, having listened to the case made by the former Governor of the Bank of England, Mark Carney… 

    … former Treasury Minister, Jim O’Neill… 

    … and the former Cabinet Secretary, Gus O’Donnell… 

    … among others…  

    … I am confirming our investment rule.  

    As set out in our manifesto, we will target debt falling as a share of the economy. 

    Debt will be defined as Public Sector net Financial Liabilities, or “net financial debt”, for short… 

    … a metric that has been measured by the Office for National Statistics since 2016… 

    … and forecast by the Office for Budget Responsibility since that date too. 

    “Net financial debt” recognises that government investment delivers returns for taxpayers…  

    … by counting not just the liabilities on a government’s balance sheet, but the financial assets too. 

    This means that we count the benefits of investment, not just the costs… 

    And we free up our institutions to invest… 

    … just as they do in Germany, France and Japan.  

    Like our stability rule, our investment rule will apply in 2029-2030… 

    … until that becomes the third year of the forecast. 

    From that point onwards, net financial debt will fall in the third year of every forecast. 

    Today, the OBR say that we are already meeting our target two years early… 

    … with “net financial debt” falling by 2027-28…  

    … with £15.7bn of headroom in the final year. 

    So that we drive the right incentives in government investments… 

    … we will introduce four key guardrails to ensure capital spending is good value for money and drives growth in our economy.  

    First, our portfolio of new financial investments will be delivered by expert bodies like the National Wealth Fund which must, by default, earn a rate of return at least as large as that on gilts.  

    Second, we will strengthen the role of institutions to improve infrastructure delivery.  

    Third, we will improve certainty, setting capital budgets for five years and extending them at every spending review every two years. 

    Finally, we will ensure there is greater transparency for capital spending, with robust annual reporting of financial investments… 

    … based on accounts audited by the National Audit Office… 

    … and made available to the Office for Budget Responsibility at every forecast. 

    Taken together with our stability rule… 

    …these fiscal rules will ensure that our public finances are on a firm footing… 

    … while enabling us to invest prudently alongside business. 

    Growth projects  

    The capital plans I now set out… 

    … to drive growth across our country… 

    … and repair the fabric of our nation… 

    … are only possible because of our investment rule.  

    Let me set out those investment plans. 

    Industrial strategy 

    Today we are confirming our plans to capitalise the National Wealth Fund… 

    … to invest in the industries of the future… 

    … from gigafactories, to ports to green hydrogen. 

    Building on these investments, my Right Honourable Friend the Business Secretary is driving forward our modern industrial strategy… 

    … working with businesses and organisations like Make UK… 

    … to set out the sectors with the biggest growth potential. 

    Today, we are confirming multi-year funding commitments for these areas of our economy, including… 

    … nearly £1bn for the aerospace sector to fund vital research and development, building on our industry in the East Midlands, the South-West and Scotland… 

    … over £2 billion for the automotive sector… 

    …  to support our electric vehicle industry and develop our manufacturing base… 

    … building on our strengths in the North East and the West Midlands… 

    And up to £520m for a new Life Sciences Innovative Manufacturing Fund. 

    For our world-leading creative industries…  

    … we will legislate to provide additional tax relief for visual effect costs in TV and film… 

    .. and we are providing £25m for the North East Combined Authority… 

    … which they plan to use to remediate the Crown Works Studio site in Sunderland… 

    … creating 8,000 new jobs.  

    Research & Development 

    To unlock these growth industries of the future, we will protect government investment in research and development with more than £20bn worth of funding. 

    This includes at least £6.1bn to protect core research funding for areas like engineering, biotechnology and medical science… 

    …through Research England, other research councils, and the National Academies. 

    We will extend the Innovation Accelerators programme in Glasgow, in Manchester and in the West Midlands.  

    And with over £500m of funding next year, my Right Honourable Friend the Science, Technology and Innovation Secretary, will continue to drive progress in improving reliable, fast broadband and mobile coverage across our country, including in rural areas. 

    Housing 

    We committed in our manifesto to build 1.5 million homes over the course of this parliament… 

    … and my Right Honourable Friend the Deputy Prime Minister is driving that work forward across government. 

    Today, I am providing over £5bn of government investment to deliver our plans on housing next year. 

    We will increase the Affordable Homes Programme to £3.1bn…  

    … delivering thousands of new homes.  

    We will provide £3bn of support in guarantees… 

    … to boost the supply of homes and support our small housebuilders. 

    And we will provide investment to renovate sites across our country… 

    … including at Liverpool Central Docks… 

    … where we will deliver 2,000 new homes… 

    … and funding to help Cambridge realise its full growth potential.  

    Alongside this investment, we will put the right policies in place to increase the supply of affordable housing.  

    Having heard representations from local authorities, social housing providers and from Shelter…  

    … I can today confirm that the government will reduce Right to Buy Discounts… 

    … and local authorities will be able to retain the full receipts from any sales of social housing… 

    … to reinvest back into the housing stock, and into new supply.. 

    … so that we give more people a safe, secure and affordable place to live.  

    We will provide stability to social housing providers, with a social housing rent settlement of CPI+1 percent for the next five years.  

    And we will deliver on our manifesto commitment to hire hundreds of new planning officers, to get Britain building again.  

    We will also make progress on our commitment to accelerate the remediation of homes following the findings of the Grenfell Inquiry… 

    … with £1bn of investment to remove dangerous cladding next year.  

    Transport

    Working with my Right Honourable Friend the Transport Secretary, I am changing that.  

    We are today securing the delivery of the Trans-Pennine upgrade to connect York, Leeds, Huddersfield and Manchester…  

    … delivering fully electric local and regional services between Manchester and Stalybridge by the end of this year… 

    … with a further electrification of services between Church Fenton and York by 2026.… 

    … to help grow our economy across the North of England… 

    … with faster and more reliable services.  

    We will deliver East-West Rail to drive growth between Oxford, Milton Keynes and Cambridge…  

    … with the first services running between Oxford, Bletchley and Milton Keynes next year… 

    … and trains between Oxford and Bedford running from 2030.  

    We are delivering railway schemes which improve journeys for people across our country… 

    … including upgrades at Bradford Forster Square…  

    … improving capacity at Manchester Victoria… 

    … and electrifying the Wigan-Bolton line. 

    My Right Honourable Friend the Transport Secretary has also set out a plan for how to get a grip of HS2. 

    Today, we are securing delivery of the project between Old Oak Common and Birmingham… 

    … and we are committing the funding required to begin tunnelling work to London Euston station… 

    … This will catalyse private investment into the local area. 

    I am also funding significant improvements to our roads network.  

    For too long, potholes have been an all too visible reminder of our failure to invest as a nation. 

    Today, that changes… 

    … with a £500m increase in road maintenance budgets next year… 

    … more than delivering on our manifesto commitment to fix an additional one million potholes each year. 

    We will provide over £650m of local transport funding to improve connections across our country… 

    … in our towns like Crewe and Grimsby… 

    … and in our villages and rural areas, from Cornwall to Cumbria.

    … we understand how important bus services are for our communities… 

    …so we will extend the cap for a further year, setting it at £3 until December 2025. 

    Finally we will deliver £1.3bn of funding to improve connectivity in our city regions, funding projects like…  

    … the Brierley Hill Metro extension in the West Midlands… 

    … the renewal of the Sheffield Supertram… 

    … and West Yorkshire Mass Transit, including in Bradford and Leeds.  

    Energy 

    Madam Deputy Speaker, to bring new jobs to Britain and drive growth across our country… 

    … we are delivering our mission to make Britain a clean energy superpower, led by my Right Honourable Friend the Energy Secretary. 

    Earlier this month, we announced a significant multi-year investment between government and business into Carbon Capture and Storage… 

    … creating 4,000 jobs across Merseyside and Teesside. 

    Today, I am providing funding for 11 new green hydrogen projects across England, Scotland and Wales – they will be among the first commercial scale projects anywhere in the world… 

    … including in Bridgend, East Renfrewshire and in Barrow-in-Furness 

    We are kickstarting the Warm Homes Plan by confirming an initial £3.4bn over the next three years… 

    … to transform 350,000 homes… 

    … including a quarter of a million low-income and social homes. 

    And we will establish GB Energy… 

    … providing funding next year to set up GB Energy at its new home in Aberdeen. 

    Overall, we will invest an additional £100bn over the next five years in capital spending… 

    … only possible because of our investment rule.  

    The OBR say today that this will drive growth across our country in the next five years… 

    … and in the longer term increase GDP by up to 1.4%. 

    It will crowd in private investment… 

    … meaning more jobs, and more opportunities… 

    … in every corner of the UK.  

    That is the choice that I have made.  

    To invest in our country… 

    … and to grow our economy. 

    Today, I am setting out two final areas in which investment is so badly needed… 

    … to repair the fabric of our nation. 

    Schools

    [redacted political content]

    … schools roofs are crumbling….  

    … and millions of children are facing the very same backdrop as I did. 

    I will be the Chancellor that changes that.  

    So today, I am providing £6.7bn of capital investment to the Department for Education next year… 

    … a 19% real-terms increase on this year. 

    That includes £1.4bn to rebuild over 500 schools in the greatest need… 

    … including St Helen’s Primary School in Hartlepool, and Mercia Academy in Derby… 

    … and so many more across our country. 

    And we will provide a further £2.1bn to improve school maintenance, £300m more than this year… 

    … ensuring that all our children can learn somewhere safe… 

    … including dealing with RAAC affected schools in the constituencies of my HFs the members for Watford, Stourbridge, Hyndburn, and beyond.   

    Alongside investment in new teachers… 

    … and funding for thousands of new breakfast clubs… 

    … this government is giving our children and young people the opportunities that they deserve.   

    NHS 

    Madam Deputy Speaker, I come to our most cherished public service of all: our NHS.

    [redacted political content]

    In our first week in office, he commissioned an independent report into the state of our health service by Lord Darzi.  

    Its conclusions were damning.  

    While our NHS staff do a remarkable job, and we thank them for it… 

    … it is clear that, that in so many areas… 

    … we are moving in the wrong direction.  

    100,000 infants waited over 6 hours in A&E last year.  

    350,000 people are waiting a year for mental health support. 

    Cancer deaths here are higher than in other countries.  

    It is simply unforgiveable. 

    In the Spring, we will publish a 10 year plan for the NHS… 

    … to deliver a shift from hospital to community… 

    … from analogue to digital… 

    … and from sickness to prevention. 

    Today, we are announcing a downpayment on that plan…  

    …  to enable the NHS to deliver 2% productivity growth next year. 

    These reforms are vital.  

    But we should be honest.  

    The state of the NHS we inherited… 

    … after – and I quote Lord Darzi – “the most austere decade since the NHS was founded” –  

    … means reform must come alongside investment. 

    So today… 

    … because of the difficult decision that I have taken on tax, welfare and spending… 

    … I can announce… 

    … that I am providing a £22.6bn increase in the day to-day health budget… 

    … and a £3.1bn increase in the capital budget… 

    … over this year and next year. 

    This is the largest real-terms growth in day to day NHS spending outside of Covid since 2010.  

    Let me set out what this funding is delivering.  

    Many NHS buildings have been left in a state of disrepair. 

    So we will provide £1 billion of health capital investment next year to address the backlog of repairs and upgrades across the NHS.  

    To increase capacity for tens of thousands more procedures next year… 

    … we will provide a further £1.5bn… 

    … for new beds in hospitals across the country…  

    … new capacity for over a million additional diagnostic tests… 

    … and new surgical hubs and diagnostic centres … 

    … so that those people waiting for their treatment can get it as quickly as possible. 

    My Right Honourable Friend the Health Secretary will be announcing the details of his review into the New Hospital Programme in the coming weeks… 

    … and publishing in the new year… 

    … but I can tell the House today… 

    … that work will continue at pace to deliver those seven hospitals affected including… 

    … West Suffolk Hospital in Bury St Edmunds… 

    … and Leighton Hospital in Crewe.  

    And finally… 

    … because of this record injection of funding… 

    … because of the thousands of additional beds that we have secured… 

    … and because of the reforms that we are delivering in our NHS…  

    … we can now begin to bring waiting lists down more quickly… 

    … and move towards our target for waiting times no longer than 18 weeks… 

    … by delivering our manifesto commitment for 40,000 extra hospital appointments a week.

    [redacted political content]

    CLOSING 

    Madam Deputy Speaker, the choices that I have made today are the right choices for our country.  

    To restore stability to our public finances. 

    To protect working people. 

    To fix our NHS. 

    And to rebuild Britain.  

    That doesn’t mean these choices are easy. 

    But they are responsible.

    [redacted political content]

    This is a moment of fundamental choice for Britain.  

    I have made my choices.  

    The responsible choices. 

    To restore stability to our country. 

    To protect working people.  

    More teachers in our schools.  

    More appointments in our NHS.  

    More homes being built.  

    Fixing the foundations of our economy. 

    Investing in our future.  

    Delivering change.  

    Rebuilding Britain.

    We on these benches commend those choices… 

    … and I commend this Statement to the House.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Security: A study in tropical disease prevention for this Navy Medicine physician

    Source: United States Navy (Medical)

    In the bitter fighting that raged across the jungle island of Guadalcanal during World War II, more Marines were lost to disease – malaria, dengue fever, dysentery – than enemy bullets.

    Lt. Cmdr. Lauren Kalodner, MD, MPH, is doing her best to ensure such a casualty count won’t happen again.

    Kalodner, a Rose Valley, Pennsylvania native, was part of a Uniformed Service University educational assignment to the equatorial West Africa nation of Ghana for two weeks of in-depth field work. The Military Tropical Medicine field mission provided an ideal natural environment for increasing her knowledge to confront and prevent endemic, infectious diseases prevalent in a tropical setting.

    “Participating on a field mission in Ghana is crucial for the understanding of tropical diseases because it allows for direct observation of the conditions that facilitate their spread. Local ecosystems, climate, animal and human behaviors plays a significant role in disease transmission. Immersing in the community helps healthcare workers understand cultural practices, health beliefs, and the social determinants of health that influence disease prevalence and management. The firsthand experience is crucial for developing effective prevention and treatment strategies tailored to the context from which the disease arises,” said Kalodner, stationed with 2nd Medical Battalion, 2nd Marine Logistics Group, as an emergency medicine physician.

    Kalodner and others went to Accra, capital and largest city of Ghana, as well as Kumasi, the second largest city. They received instruction on how to recognize, diagnose and treat disease agents, understand mitigation strategies to help control and limit disease transmission, identify transmission modes, and understand the overlapping connection of the natural and animal environments and human disease.

    Being able to help stop the spread of infectious tropical diseases which continue to cause untold casualties as well as fatalities – there were 608,000 malaria deaths in 2022 alone estimated by the World Health Organization – is significant in the light of Rear Adm. Darin Via, Navy Surgeon General and chief, BUMED recently affirming that Navy Medicine’s focus is readiness, especially with expeditionary medicine capabilities. Those capabilities call for a ready medical force ensuring there is a medically ready force.

    Kalodner noted that there were several key lessons which emerged relevant to Navy Medicine’s expeditionary medicine emphasis, such as “Adaptability, the ability to quickly adjust to vary environments and resource limitations is crucial for effective medical care in the field,” she explained.

    Other valuable insight gained included being culturally knowledgeable by “understanding local customs and health practices enhances trust and improves patient outcomes to function as part of a multi-national medical force. Collaboration [with] working closely with a diverse healthcare team is essential for a successful mission. Preventive care emphasizes education and preventive measures which can significantly reduce the burden of tropical diseases. Logistics management for effective planning for supply chain challenges is vital for maintaining readiness and ensuring the medical teams can operative efficiently in remote areas,” stressed Kalodner.

    “These lessons enhance the Navy’s expeditionary medicine capabilities and promote a more holistic and integrated approach to healthcare in diverse environments,” continued Kalodner, adding that the training proved to be invaluable. “Unmatched. This is the best training opportunity offered to prepare military healthcare workers to prepare for tropical disease and DNBI [disease and non-battle injury].”

    Her interest in Navy Medicine was fostered by the opportunity to combine her passion for healthcare with a commitment to put service before self. After completing Strath Haven High School in 2003, Kalodner graduated from Davidson College in 2007, followed by George Washington University Milken School of Public Health in 2012 and the Uniformed Services University, F Edward Herbet School of Medicine in 2018. She then completed her four-year residency in emergency medicine at Naval Medical Center Portsmouth in 2022.

    “The chance to work in diverse environments, address unique medical challenges, and contribute to global health initiative was particularly appealing,” Kalodner said. “The emphasis that Navy Medicine puts on teamwork and the ability to make a tangible difference in the lives of service members and communities inspired my decision to join the Navy.”

    Fast forward to the summer of 2024. When the prospect of traveling to Ghana for the Military Tropical Medicine mission became known, it was easy for Kalodner to make the commitment.

    “While I was studying at Davidson College, I started taking French classes. I knew I wanted to study abroad in a unique place where I could grow my French language skills and experience a new culture,” she related. “I selected to go to Dakar, Senegal, where I studied and lived for eight months of my sophomore year of college. I loved the people and culture of West Africa. I thought doing my tropical medicine field mission in Ghana would be a great way to experience new cultures within West Africa while also furthering my knowledge of tropical medicine and international medicine.”

    Before being immersed in the field, Kalodner and other students had four-weeks of virtual instruction to help prep their knowledge.

    “The knowledge of disease processes and skills earned through hard work and study during the classroom allowed you to become an active participant in patient care,” said Kalodner. “The field experience helps solidify the classroom lessons through patient interaction.”

    From coastal rainforest to rural village, the itinerary of Kalodner and others had them conducting water and environmental sampling and field collecting of mosquito and tick vectors. They met with Ghanian Armed Forces 37 Military Hospital physicians and medical residents to discuss treating patients with diverse illnesses from cerebral malaria to tuberculosis, as well as reviewing parasitology and microscopy of infectious diseases at the Ghana Entomology Center of Excellence. There was valued time also spent with the Ghana Military Police National Dog Academy to learn about dealing with canine-related disease transmission(s) and veterinarian services in their country.

    Kalodner and others worked with Navy Medical Research Unit 3 Accra staff and U.S. embassy. They met with representatives from a host of organizations including U.S. Centers for Disease Control and Prevention, U.S. Peace Corps and U.S. Agency for International Development to learn about interagency cooperation and partnership as it relates to global health engagement.

    There were challenges, which provided an instructive framework for future planning and problem solving.

    “I think the elegant part of this experience was that many of the challenges I faced during my field mission in Ghana are similar to those I will face in a deployed environment. One of the biggest challenges was limited access to resources, including medical supplies and equipment. There were logistical issues, such as patient transportation difficulties and infrastructure limitations that hinder the delivery of healthcare. Additionally, navigating cultural differences and ensuring effective communication are barriers to overcome,” exclaimed Kalodner.

    Yet there was fulfillment in encountering and coping with the trials.

    “The most gratifying aspect was seeing the direct impact our work had on the local community and knowing that the knowledge, skill, and abilities I learned from my time in the field could have the same direct impact on American servicemembers and allies in future combats zones,” stated Kalodner.

    When asked to sum up her experience Navy Medicine – which also includes having her conduct clinical sustainment shifts at NMC Portsmouth – in one sentence, Kalodner replied, “My experience with Navy Medicine has been a profound journey of service, learning, and collaboration, dedicated to enhancing health outcomes in diverse and challenging environments.”

    MIL Security OSI –

  • MIL-OSI: LECTRA: Q3 and First Nine Months of 2024 financial report available

    Source: GlobeNewswire (MIL-OSI)

    Q3 and First Nine Months of 2024 financial report available

    Paris, October 30, 2024 – Lectra informs its shareholders, in compliance with Article 221-4-IV of the General Regulation of the Autorité des marchés financiers, that the Management Discussion and Analysis of Financial Condition and Results of Operations for the third quarter and the nine months of 2024 is available on the company’s website: www.lectra.com

    It is also available, upon request, at the company’s headquarters 16-18 rue Chalgrin, 75016 Paris (email: investor.relations@lectra.com).

    About Lectra

    A major player in the fashion, automotive and furniture markets, Lectra contributes to the development of Industry 4.0 with boldness and passion, fully integrating Corporate Social Responsibility (CSR) into its global strategy.The Group offers industrial intelligence solutions – software, cutting equipment, data analysis solutions and associated services – that facilitate the digital transformation of the companies it serves. In doing so, Lectra helps its customers push boundaries and unlock their potential. The Group is proud to state that its 3,000 employees are driven by three core values: being open-minded thinkers, trusted partners and passionate innovators. Founded in 1973, Lectra reported revenues of 478 million euros in 2023. The company is listed on Euronext, where it is included in the following indices: CAC All Shares, CAC Technology, EN Tech Leaders and ENT PEA-PME 150. For more information, visit lectra.com.

    Lectra – World Headquarters: 16–18, rue Chalgrin • 75016 Paris • France
    Tel. +33 (0)1 53 64 42 00 – www.lectra.com
    A French Société Anonyme with capital of €37,832,965 • RCS Paris B 300 702 305

    Attachment

    The MIL Network –

  • MIL-OSI: LECTRA: First nine months of 2024: revenues and EBITDA continued to grow, despite the degraded environment

    Source: GlobeNewswire (MIL-OSI)

    First nine months of 2024: revenues and EBITDA continued to grow, despite the degraded environment

    • Revenues: 394.2 million euros (+10%)*
    • EBITDA before non-recurring items: 68.5 million euros (+16%)*

            
    *At actual exchange rates

         
    In millions of euros July 1 – September 30 January 1 – September 30
      2024(1) 2023 2024(1) 2023
    Revenues 131.9 118.7 394.2 358.3
    Change at actual exchange rates (in %) 11%   10%  
    EBITDA before non-recurring items(2) 26.2 23.9 68.5 59.2
    Change at actual exchange rates (in %) 10%   16%  
    EBITDA margin before non-recurring items
    (in % of revenues)    		 19.9% 20.1% 17.4% 16.5%
    Income from operations before non-recurring items (2) 15.7 16.4 37.3 36.7
    Change at actual exchange rates (in %) -5%   2%  
    Net income(3) 10.1 11.0 21.2 24.9
    Free cash flow before non-recurring items (2) 21.6 15.5 49.9 32.1
             

    (1)  The 2024 amounts include Launchmetrics since January 23, 2024
    (2)  The definition for performance indicators appears in the September 30, 2024 Financial Report
    (3)  In 2023, net income included the impact of non-recurring income of 2.6 million euros

    Paris, October 30, 2024. Today, Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the third quarter and the first nine months of 2024, which have not been reviewed by the Statutory Auditors. To facilitate the analysis of the Group’s results in its new scope, the accounts of Lectra excluding Launchmetrics (the “Lectra 2023 scope”) and those of Launchmetrics are analyzed separately.

    The detailed 2024 vs 2023 comparisons are based on actual exchange rates, except for the Lectra 2023 scope stated on a like-for-like basis.

    1. Q3 2024

    The macroeconomic and geopolitical environment experienced further degradation in the third quarter but with heterogeneous situations across different geographical markets and market sectors.

    This situation resulted in a cautious position on the part of the Group’s customers in their investment decisions, resulting in a negative effect, particularly on orders for new systems.

    However, driven by both the integration of Launchmetrics and the improvement in the Group’s fundamentals –growth in recurring revenues, higher gross profit, growth in EBITDA before non-recurring items and near-coverage of all fixed costs through recurring activity– Q3 2024 revenues (131.9 million euros) and EBITDA before non-recurring items (26.2 million euros) increased significantly (by 11% and 10%, respectively). The EBITDA margin before non-recurring items stood at 19.9%.

    Lectra 2023 scope

    Orders for perpetual software licenses, equipment and accompanying software, and non-recurring services (32.2 million euros) were stable compared to Q3 2023.

    The annual value of new subscriptions for software came to 2.6 million euros, up 17% compared to Q3 2023.

    Q3 2024 revenues came to 120.8 million euros, up 3% compared Q3 2023. EBITDA before non-recurring items was 23.5 million euros and EBITDA margin before non-recurring items stood at 19.5% (-0.5 percentage point).

    1. FIRST NINE MONTHS OF 2024

    Revenues for the first nine months of 2024 were 394.2 million euros, up 10%, with the following breakdown: 111.3 million euros in revenus from new systems (28% of total revenues, down 5%) and 282.9 million euros in recurring revenues (72% of total revenues, up 18%), including 56.4 million euros in SaaS revenue (14% of total revenues, multiplied by 2.6)

    Gross profit came to 281.6 million euros, up 13% compared to the first nine months of 2023, and the gross profit margin came to 71.4%, up 1.7 percentage points.

    EBITDA before non-recurring items totalled 68.5 million euros, up 16%, and the EBITDA margin before non-recurring items rose to 17.4%, up 0.9 percentage point.

    Consolidated income from operations before non-recurring items amounted to 37.3 million euros, up 2%. This included a 16.8 million euros charge for amortization of intangible assets arising from acquisitions made since 2021, including 7.4 million euros for Launchmetrics.

    Considering this amortization, the increase in financial expenses and an income tax charge of 10.0 million euros, net income totalled 21.2 million euros. Net income for the first nine months of 2023 (24.9 million euros) included the impact of a non-recurring income of 2.6 million euros in Q3 2023.

    Free cash flow before non-recurring items came to 49.9 million euros, up sharply from 32.1 million euros in the first nine months of 2023.

    As of September 30, 2024, the Group has a particularly robust balance sheet, with consolidated shareholders’ equity of 332.7 million euros, a negative working capital requirement of 8.7 million euros and net financial debt of 41.0 million euros after payment of the first tranche of the acquisition of Launchmetrics, i.e., 77.0 million euros.

    Lectra 2023 scope

    In the first nine months of 2024, orders for perpetual software licenses, equipment and accompanying software, and non-recurring services (106.3 million euros) were stable compared to the same period in 2023. The annual value of new software subscription orders came to 8.0 million euros, up 4% compared to the first nine months of 2023.

    Revenues amounted to 364.0 million euros, up 2% compared to the first nine months of 2023.

    EBITDA before non-recurring items was 63.2 million euros, up 8%, and the EBITDA margin before non-recurring items came to 17.4%, up 1.0 percentage point compared to 2023.

    1. BUSINESS TRENDS AND OUTLOOK

    In its financial report on the fourth quarter and full year 2023, published on February 14, 2024, Lectra reiterated its long-term vision, as well as the objectives of its 2023-2025 strategic roadmap and its ambitions for 2025: revenues of 600 million euros, of which 400 million euros in recurring revenues, including 90 million euros in SaaS revenues, and an EBITDA margin before non-recurring items exceeding 20%.

    The Group also stated that while the substantial improvement in the fundamentals of the Group’s business model in 2023 would have a positive impact on 2024 results, persistent macroeconomic and geopolitical uncertainties could continue to weigh on investment decisions by its customers.

    On February 14, the Group reported its objectives for 2024, before including the Launchmetrics acquisition (i.e., for the Lectra 2023 scope): to achieve revenues in the range of 480 to 530 million euros (+2% to +12%) and EBITDA before non-recurring items in the range of 85 to 107 million euros (+10% to +40%).

    The Group also reported that Launchmetrics revenues (for the consolidation period from January 23 to December 31, 2024) were projected to be in the range of 42 to 46 million euros, with an EBITDA margin before non-recurring items of more than 15%.

    These scenarios were prepared based on the closing exchange rates on December 29, 2023, and particularly $1.10/€1.

    Given the results for the first nine months of 2024, full year revenues and EBITDA before non-recurring items are expected to reach the lower end of the indicated ranges.

    The 2024 Annual Financial Report, as well as the Management Discussion and Analysis of Financial Conditions and Results of Operations and the financial statements for the first nine months of 2024 are available on lectra.com. Q3 and the first nine months of 2024 earnings will be published on October 30, 2024.

    About Lectra

    A major player in the fashion, automotive and furniture markets, Lectra contributes to the development of Industry 4.0 with boldness and passion, fully integrating Corporate Social Responsibility (CSR) into its global strategy.The Group offers industrial intelligence solutions – software, cutting equipment, data analysis solutions and associated services – that facilitate the digital transformation of the companies it serves. In doing so, Lectra helps its customers push boundaries and unlock their potential. The Group is proud to state that its 3,000 employees are driven by three core values: being open-minded thinkers, trusted partners and passionate innovators. Founded in 1973, Lectra reported revenues of 478 million euros in 2023. The company is listed on Euronext, where it is included in the following indices: CAC All Shares, CAC Technology, EN Tech Leaders and ENT PEA-PME 150. For more information, visit lectra.com.

    Lectra – World Headquarters: 16–18, rue Chalgrin • 75016 Paris • France
    Tel. +33 (0)1 53 64 42 00 – www.lectra.com
    A French Société Anonyme with capital of €37,832,965 • RCS Paris B 300 702 305

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    The MIL Network –

  • MIL-OSI USA: McCaul Demands USAGM Leadership Be Held Accountable for Whitewashing Agency Failures

    Source: US House Committee on Foreign Affairs

    Media Contact 202-226-8467

    Washington, D.C. — House Foreign Affairs Committee Chairman Michael McCaul released the transcribed interview of Setareh Sieg, a senior official at the U.S. Agency for Global Media (USAGM), which was conducted after more than six months of stonewalling by USAGM and Ms. Sieg. In June of 2024, Chairman McCaul released his report into the culture of corruption and mismanagement at USAGM; the report detailed fabrications to Ms. Sieg’s resume, such as her educational credentials, which the agency admitted were false after years of committee oversight. Despite this, USAGM CEO Amanda Bennett — a political appointee — still refuses to acknowledge her own subordinates’ findings and has “condemned” Chairman McCaul’s investigation rather than apologize to USAGM whistleblowers or publicly commit to reforming the agency.

    The transcribed interview is minimally redacted.

    • Setareh Sieg, Director, Program Review, Voice of America. Ms. Sieg formerly served as director of Voice of America’s Persian News Network (VOA-Persia).

    Read Ms. Sieg’s entire transcribed interview here.

    Background: 

    • It is a violation of federal law to lie during a congressional investigation. 18 U.S.C. §1001 (c)(2) states that material false statements during “any investigation or review, conducted pursuant to the authority of any committee, subcommittee, commission or office of the Congress, consistent with applicable rules of the House or Senate” represent a criminal offense.
    • When Ms. Sieg appeared before the committee, she stated that she no longer presents herself as holding a Ph.D. (Page 101, Lines 6-12). However, she continues to advertise her falsified credentials online. 
      • Ms. Sieg does not hold a Ph.D., or its equivalent, from the Sorbonne, despite her shifting claims to that effect. In her transcribed interview, she repeatedly stated “controversy” existed regarding whether she held a Ph.D. instead of flatly admitting she does not. 
    • When the Biden-Harris administration brought Ms. Sieg back to the agency, USAGM failed to conduct a thorough investigation about her false credentials and abuses of authority, despite the committee’s calls to do so – indicating incompetence, indifference, or a deliberate conspiracy within USAGM to protect a politically-connected individual from whistleblower complaints.
      • The committee’s investigation showed Ms. Sieg allowed her preferred employees to collect excessive overtime pay, showed a pattern of favoritism, faced persistent complaints from subordinates due to her abrasive leadership style, and mishandled at least one major programming contract.
    • Voice of America leadership finally issued a formal reprimand, supported by USAGM human resources staff findings, to Ms. Sieg — acknowledging she lied about her educational credentials — yet CEO Bennett continues to ignore her own staff’s conclusions and defend Ms. Sieg.(Page 80).
    • Despite the formal reprimand, Ms. Sieg refuses to accept the findings of USAGM, the committee, the French Embassy, and the Foreign Credential Services of America that she does not have a French Doctorate, referring to the assessments as mere “opinions.” (Pages 83-84, 98-101).

    ###

    MIL OSI USA News –

  • MIL-OSI Global: Colonialism, starvation and resistance: How food is weaponized, from Gaza to Canada

    Source: The Conversation – Canada – By Charles Z. Levkoe, Canada Research Chair in Equitable and Sustainable Food Systems, Lakehead University

    For more than a year, the Israeli state has been engaged in a massive incursion into Gaza following the October 2023 Hamas attack against Israel.

    In March 2024, Francesca Albanese, the United Nations Special Rapporteur on the situation of human rights in the Occupied Palestinian Territories, announced: “There are reasonable grounds to believe that the threshold indicating the commission of the crime of genocide…has been met.”

    A core element of this apparent genocide includes food militarization and weaponization, a tactic that has also been used by Canada to exterminate, dispossess and control Indigenous populations.

    We have come together as a group of critical food systems scholars to examine the parallels between the weaponization of food in Gaza and Canada to bring about the systematic destruction of Indigenous Peoples. But we’ve also observed that food has been a powerful tool of resistance and resurgence.



    Read more:
    Israeli siege has placed Gazans at risk of starvation − prewar policies made them vulnerable in the first place

    Food as a weapon

    Throughout modern history, food has been deployed as a weapon by colonial regimes to control and displace Indigenous populations. The current crisis in Gaza has brought this into sharp focus as the Israeli state has engaged in the systematic destruction of Palestinian food systems, with devastating consequences.

    Israel’s blockade of Gaza, in place since 2007, has cut off access to essential agricultural areas and restricted fishing activities. Gaza farmers are often unable to access their land, while fishers are constantly barred from accessing the coast, harassed, intimidated and even killed by Israeli forces.

    This blockade, combined with military operations that destroy farmland, trees and infrastructure, has resulted in more than 95 per cent of people in Gaza facing severe food insecurity and a famine declared by the United Nations experts in the summer of 2024.



    Read more:
    Starvation is a weapon of war: Gazans are paying the price

    Canada’s use of food weaponization

    Throughout the 19th and 20th centuries, the Canadian government employed similar tactics to restrict Indigenous Peoples’ access to land, food and water. Colonial policies like the Indian Act, the Homesteading Act and the Pass System confined Indigenous Peoples to reserves, prohibited hunting and fishing and forced reliance on inadequate government food rations.

    This led to malnutrition and starvation, particularly in response to Indigenous resistance to settler expansion. The use of food as a weapon was part of a broader project to eliminate or otherwise undermine Indigenous identity and self-determination, a process that continues today.

    From ongoing boil-water advisories to environmental degradation caused by mining, oil and gas extraction, forestry, agriculture and chemical production, settler governments and industries continue to dispossess Indigenous Peoples from their lands and undermine their livelihood.

    These practices have severely and disproportionately impacted Indigenous health and well-being, as well as their food systems.



    Read more:
    Colonialists used starvation as a tool of oppression

    The Scream, by Kent Monkman (2016), was part of a travelling exhibition in 2017 on colonized Canada entitled ‘Shame And Prejudice: A Story Of Resilience.’
    (Courtesy of Kent Monkman)

    Israel targets food infrastructure

    In the occupied Palestinian territories, Israeli control over land and resources reflects a similar colonial dynamic. Laws like the Absentee Property Law of 1950 facilitated the expropriation of Palestinian land.

    Meanwhile, the Israeli military has systematically targeted Gaza’s food infrastructure and used starvation as a weapon of war, according to Human Rights Watch. Satellite imagery shows that 70 per cent of Gaza’s tree cover has been eliminated or damaged, and about one-third of greenhouses have been demolished.

    Tanks and trucks have decimated orchards, field crops and olive groves.

    An estimated 800,000 tonnes of asbestos among the debris of destroyed buildings will result in asbestos-related diseases for generations to come. Under the Geneva Conventions, destruction of civilians’ means of survival and starvation as a tool of warfare is strictly prohibited.

    Food as resistance

    Food has also long been mobilized as a powerful tool of resistance. Among Palestinians, struggles for food sovereignty have played a critical role in self-determination.

    Palestinians continue to cultivate their land under the rubble, grow olive trees despite ongoing violence and maintain food practices that connect them to their lands and their cultural heritage.

    Similarly, Indigenous nations and communities across Canada have used food as a form of resurgence. Alongside land back movements, efforts to revitalize Indigenous food systems — such as hunting, fishing, growing and gathering — are central to movements for Indigenous sovereignty.

    Learning about and enacting traditional food practices are important acts of resistance, as these practices sustain communities, strengthen connections to land and assert rights over the unceded territories Indigenous Peoples are fighting to reclaim. By reclaiming and rebuilding their land and food systems on their own terms, they continue to challenge colonial structures.

    Food, colonialism and resistance

    The destruction of food systems in Gaza and Canada is part of a larger effort of land dispossession and capitalist accumulation. By severing Indigenous Peoples’ connection to their food systems, settlers and colonial regimes have sought to control not only the land but also the people who depend on it.

    Yet, through food sovereignty movements, these same populations are reclaiming their right to self-determination and building global networks of solidarity.



    Read more:
    Indigenous food sovereignty requires better and more accurate data collection

    The struggle for food sovereignty is inseparable from broader struggles for land, justice and self-determination.

    Connecting the dots between the Palestinian territories and Canada provides powerful examples of global colonial relations and struggles for justice and self-determination. It challenges us to critically examine the role of food in these struggles and demand government accountability.

    We wish to acknowledge Mustafa Koç, professor emeritus at Toronto Metropolitan University, as a co-author and to thank Max Ajl, Yafa Al Masri and Justin Podur for contributions to this article.

    Charles Z. Levkoe receives funding from the Social Sciences and Humanities Research Council of Canada and the the Government of Ontario.

    Sarah Rotz receives funding from the Social Sciences and Humanities Research Council of Canada.

    Tammara Soma receives funding from the Social Sciences and Humanities Research Council of Canada.

    Martha Stiegman 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. Colonialism, starvation and resistance: How food is weaponized, from Gaza to Canada – https://theconversation.com/colonialism-starvation-and-resistance-how-food-is-weaponized-from-gaza-to-canada-241525

    MIL OSI – Global Reports –

  • MIL-OSI Europe: Answer to a written question – Aid reopening border crossings between Spain and France – P-001909/2024(ASW)

    Source: European Parliament

    The Commission is aware of the closure of road RN134 in France. The French authorities reported to the Commission that the Inter-Department Directorate for Atlantic Roads (DIRA) carried out a technical assessment on the ground, based on which it presented a proposal to repair the damage. Accordingly, the DIRA estimates that the works should be concluded in 2025[1].

    The EU Solidarity Fund (EUSF)[2] can only be activated at the request of an eligible state, which has a deadline of 12 weeks as from when the first damage occurred, demonstrating that the total direct damage exceeds the thresholds specified in Article 2 Regulation (EC) No 2012/2002.

    The EUSF may cover a part of the costs for emergency and recovery operations incurred by public authorities[3]. Private damage is not eligible. France has not requested EUSF assistance for this disaster yet.

    The Commission supports Member States in improving their transport networks through different instruments, including Connecting Europe Facility (CEF) for transport and Cohesion Policy’s European Regional Development Fund (ERDF).

    CEF supports the development of an interconnected trans-European transport network. Interreg supports cross border cooperation to promote the development of joint strategies and projects in relevant sectors for border regions.

    The Spain-France-Andorra cooperation programme 2021-2027 invests EUR 18.7 million from the ERDF to promote climate change adaptation and disaster risk prevention, resilience taking into account eco-system based approaches.

    An additional EUR 12.4 million from the ERDF will be invested to increase the institutional capacity of regional authorities to deliver common services and to solve existing legal and administrative obstacles for better cooperation.

    • [1] Although the traffic could already be restored in January 2025.
    • [2] Council Regulation (EC) No 2012/2002 of 11 November 2002 establishing the European Union Solidarity Fund (OJ L 311, 14.11.2002, p. 3) as amended by Regulation (EU) No 661/2014 of the European Parliament and the Council of 15 May 2014 (OJ L 189, 27.6.2014, p. 143) and by Regulation (EU) 2020/461 of the European Parliament and the Council of 30 March 2020 (OJ L 99, 31.3.2020, p. 9). https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:32002R2012
    • [3] Eligible operations include the restoring of essential infrastructure, the provision of temporary accommodation to the population, cleaning-up operations and protection of cultural heritage.
    Last updated: 30 October 2024

    MIL OSI Europe News –

  • MIL-OSI NGOs: Hurricane Unpreparedness in the Caribbean, Disaster by Imperial Design

    Source: Council on Hemispheric Affairs –

    St. Lucia during and post Hurricane Beryl

    by Tamanisha J. John

    Toronto, Ontario

    Whenever a hurricane hits in the Caribbean, people rush to point out that it is an indicator of “disaster capitalism” and/or that “disaster capitalism” will surely come. While I agree that non-governmental organizations (NGO) and other organizations profit from disasters in the Caribbean region, and have a long history of doing so, I am less inclined to believe that “disaster capitalism” exists there unless one takes an ahistorical view. Disaster capitalism in the Caribbean can only exist in those states whose revolutions have been defeated and/or undermined, but overall, there has been no massive structural changes in these states. The region is already, and historically has been, ultra-accommodating to capitalism. Disaster capitalism refers to “the use of the shock of disastrous situations to dismantle state participation in the economy and to implant structural changes in the form of laissez-faire capitalism” (Schwartz, 2015, p. 311). To claim that disaster capitalism will come to the Caribbean region would thus indicate a marked period of state participation in the Caribbean that provided for the peoples living there.

    Instead, all states’ independence was marked by US interventions given the ideological and economic struggle of the Cold War and the neoliberal turn, which attacked state input and intervention in the market. Caribbean states’ independence was marked by debt and lack of access to capital. It occurred alongside financial institutions’ proliferation of structural adjustment policies whose implementation was necessitated for states in the region to acquire access to loaned capital (John, 2023). Though struggles for nationalizations did occur – in industries like mining, banking, insurance, and others – harsh retaliations from the US and Canada made them unsustainable (John, 2023, p. 134) – with no real reductions in foreign ownership “despite the changes in legal forms of ownership” (Thomas, 1984, p. 168-9). Thus, large foreign ownership of resource extractive industries and financial institutions remained a feature of Caribbean societies when they became independent – just as it also marked the colonial landscape in these spaces. The foreign players that controlled corporations, land, and industries in these countries did change somewhat, but this was also typical with imperial rivalries (Caribbean states themselves having been subject to multiple phases of European colonization throughout their histories).

    It was Walter Rodney, who in his 1972 text How Europe Underdeveloped Africa, put forward a critique of the thesis that capitalism had to develop prior to ushering in socialism – which was Marx’s estimation – given that this thesis went against the trajectory of capitalist development in both the Caribbean and in Africa, where the capitalist logics of extraction with disregard for these societies left them in almost permanent states of underdevelopment, that only physical and ideological anti-imperialism could rectify. One of the consequences of this underdevelopment, I argue, is the lack of hurricane preparedness. The logic of “getting people back to work” and “security” in these colonized spaces have always trumped wellbeing for the people and environment – precisely because the people in them have always been categorized as disposable, while the natural resources have been reduced to instruments for the generation of profit. This ideology was true under European empires, and now true under US hegemony in the region – where foreign imposing actors continue to have more say on preparedness, wealth distribution, land ownership, security, economic development, and entrepreneurship (innovation).

    In a Region Prone to Hurricanes, Unpreparedness is an Ideological Policy Choice

    “Hurricanes are not random phenomena. Atmospheric conditions and physics limit their movement” (Schwartz, 2015, p. xvi). In the Caribbean, the Yucatán Peninsula, the Gulf of Mexico, and the South-Eastern United States, we have come to expect a lack of preparedness whenever hurricanes strike. Though Hurricane Beryl’s strength and early formation in June was unprecedented for the Caribbean’s hurricane season, what is precedent is the lack of regional preparedness for hurricanes in a region prone to have them – no matter when these hurricanes form. Forming around June 25th it was clear that Beryl would break the record for earliest formed Category 5 hurricane by the time that it made way into the Caribbean. This was due to the unusually warm temperatures registered in both the Atlantic Ocean and the Caribbean Sea as early as March, various heatwave advisories and warnings were placed on the region acknowledging that the summer 2024 would be “hotter than usual” (Loop News 2024). When news of Beryl’s formation first spread, people expected the worst given unusually hot increases in temperatures (+4°c) for the region so early in the year.

    Making landfall as a Category 4 hurricane in one of the smaller islands of Grenada, Carriacou, on July 1st Beryl would destroy 95% of the infrastructure there before strengthening to a Category 5 hurricane. It would bring even worse devastation to a smaller island of St. Vincent and the Grenadines, Mayreu, where reports proclaim that island to have nearly been “erased from the map” (AP News 2024). In its Caribbean path, Beryl brought devastation as a Category 5 and 4 storm to Grenada, St. Vincent and the Grenadines, Dominica, Tobago and northern Venezuela, Barbados, and the southern portion of Jamaica. In its North American path, Beryl brought devastation as a Category 2 and 1 storm to Mexico’s Yucatan Peninsula, before making landfall in Texas and Louisiana. Thereafter the storm was experienced elsewhere in the form of a tropical cyclone and massive downpours of rain. Beryl eventually tapered off in Canada on July 11th where it left heavy rain that caused massive flooding (due to Canada’s neglected flood systems). Beryl’s death toll currently stands at 33, with the storm causing 6 deaths “in Venezuela, 1 in Grenada, 2 in Carriacou, 6 in St. Vincent and the Grenadines, 4 in Jamaica […] at least 11 in the Greater Houston area, 1 in Louisiana, and 2 in Vermont.” (TT Weather Center 2024)”

    Now that the storm has passed, people in impacted areas must contend with the loss of life, destruction of physical infrastructure – including homes and businesses, the lack of food and other basic products, as well as the lack of power and electricity. While contending with loss, victims of this severe weather will start to question the inability of their governments – rich or poor – to adequately address the post hurricane scenarios that they find themselves in repeatedly. This discontent with unpreparedness is now prevalent even before the hurricane season itself has ended.

    A Note on Cuba’s Hurricane Preparedness, The Importance of Ideology

    One of the most infuriating elements of hurricanes in this region is the “disaster” narratives that come after them, which falsely assert the “naturalness” of unpreparedness given the chaos of the disaster itself – when unpreparedness is, in fact, an ideological policy choice. Poorer states in this region are shackled by an unwillingness of the state to drastically deviate from “larger institutional constraints from which the logic of colonial administration derived its central purpose” and are inherited (Pérez Jr., 2001, p. 133-4).  On the other hand, richer states are shackled by their individualist ideologies which offer “vigorous critiques of government expenditure” which leave preparedness up to “market-driven, neoliberal economic policies,” that turn state and local responsibilities over “to charitable institutions, to churches, or to the victims themselves and their communities” (Schwartz, 2015, p. 300).

    When looking at states in the Western Hemisphere which frequently experience hurricanes, Cuba stands out as a state which tends to fare better in the post hurricane environment given that state’s policies of shared responsibility towards its people. This even as Cuba has been subjected to a draining embargo and sanctions which places a burden on economic growth there. Yet still, Washington maintains that Cuba’s successful hurricane response and disaster mitigation strategies amount to “the exchange of liberty for effectiveness” (Schwartz, 2015, p. 293-4). Though couched in this language of ‘liberty,’ mitigating the loss of life ensures one’s longtime enjoyment of liberty – as opposed to dying for ‘liberty’s’ sake during a hurricane (or other disasters like the COVID-19 pandemic). For example, Cuba’s hurricane preparedness in relation to the US stands out. Cuba’s disaster response compares a bit more favorably to the Federal Emergency Management Agency (FEMA). FEMA “oversaw 15 times more deaths from hurricanes than Cuba from 2005 — the year that Katrina struck New Orleans — to 2015” (Wolfe, 2021).

    This is because Cuba’s disaster preparedness is proactive, prioritizing human life and well-being given the ideological foundations of its revolution that transformed political, social, economic, and environmental relations in the country. US disaster preparedness on the other hand prioritizes profit at the expense of people – it is reactionary and reactive, often blaming victims of hurricane disasters for the lack of state preparedness.

    The Caribbean Hurricane as Natural Phenomena, the Disaster as Colonial Inheritance

    Hurricanes are not experienced equally amongst states in the Western Hemisphere. People living on Caribbean islands tend to experience the worst effects of hurricanes when they do strike, and it is also people on these same islands which tend to have less resources to recover from the impacts of a hurricane. Though Cuba’s hurricane preparedness is commendable, infrastructure and livelihoods there are still devastated by hurricanes. Many of the Caribbean islands are geographically located “in the Atlantic Hurricane Alley, [and] the region is sensitive to large-scale fluctuation of ocean patterns that are disrupted by warming seas” (Zodgekar, et. al 2023, p. 321). Additionally, populations and infrastructure on these islands tend to be concentrated on the coast – a colonial holdover – given that European “settlements were established directly in the path of oncoming hurricanes (Pérez Jr., 2001, p. 8). Initially due to lack of knowledge, this trend remained unchanged amongst Europeans given the need to export what was being extracted from these islands using the ports developed on the coasts.

    Historically, environmental disasters (hurricanes, earthquakes, and droughts) throughout the 1600s-1900s would consolidate land amongst the wealthiest European settlers on different islands and would foil settler attempts to diversify agriculture on islands. This was because wealthy settlers could more easily recover and rebuild what was lost in the aftermath of a hurricane, due to their ability to access credit from Europe and resort to using their own fortunes (wealth and networks). On the other hand, smaller settlers unable to rebuild and recover from hurricane losses had a harder time accessing credit – and creditors within Europe viewed loaning to smaller settlers as a financial burden. If these smaller settlers were already in debt, the passing of a hurricane meant that they would either have to work off debt by giving all that they had to a creditor in Europe, or one on the island, by entering into a credit arrangement with a wealthier plantation owner (Mulcahy, 2006, p. 86-8). These losses were quite frequent, as it is known that these phenomena made it so that some European creditors in Europe would amass plantation wealth, even if they themselves had never visited a Caribbean island or formally engaged in plantation life (Mulcahy, 2006, p. 87-8).

    These dynamics, in part, explain the predominance of the cultivation of sugar (and rice in what would become the South-Eastern United States) within the region, and even then, “plantership […] necessitated deep pockets (or strong credit) to survive its constant and rapid fluctuations” (Mulcahy, 2006, p. 66). “Without access to credit, smaller farmers were forced to sell their lands to wealthier and more secure planters, who thereby expanded their landholdings and production capabilities” (Mulcahy, 2006, p. 86). This consolidation of larger and wealthier plantations also made other concerns arise, namely the depopulation of settlers from the islands, as debtors opted to leave in the aftermath of storms, and later the transfers of estates to owners outside of the colonies (Mulcahy, 2006, p. 86-7). In essence, settlers’ decision to flee in the wake of, or after, a hurricane shaped population dynamics and demographics in colonies. They also shaped the lack of hurricane preparedness in colonies. Wealthier planters on the islands, and Europeans in Europe, who could suffer from hurricane losses (hurricanes themselves not being guaranteed every season), rebuild afterwards, and recover previous losses given the profit from plantation trade goods – had less incentives to plan ahead if they were not as risk of losing everything they had amassed in their life after a hurricane.

    In smaller island states’, where plantation systems were heavily disrupted or stunted in growth due to geography of the land (especially in the Lesser Antilles), even fewer attempts were made to develop any infrastructure which could protect against storms (Mulcahy, 2006). To be clear, this does not mean that these landscapes were spared from destruction which made the impacts of hurricanes worse: deforestation, overgrazing, and over-cultivation of Caribbean islands during centuries of European colonialism that included dispossession of indigenous groups and the enslavement of Africans, also impacted how hurricanes came to be experienced. While planter consolidation, rebuilding, and profits have so far been underscored here – the elephant in the room is that all of this occurred alongside the massive death toll of enslaved Africans who suffered the most both during and after the passage of a hurricane. Outside of the high death tolls for enslaved Africans on the islands, once a hurricane passed, the ultimate goal in the colonies became the reestablishment of ‘law-and-order’ given fears of slave revolt in the wake of destruction (Mulcahy, 2006; Schwartz, 2015). Although slave-revolts post hurricane remained a consistent fear of settlers, slave revolts did not occur after a hurricane due to its disproportionate toll on enslaved populations who were “often the most debilitated by the shortage of food and the diseases that followed the hurricane” (Schwartz, 2015, p. 49).

    Caribbean Indigenous Peoples Blamed European Imperial Settlement for Increased Hurricane Devastation

    From historical accounts, we know that the Spaniards were the first Europeans to experience a hurricane within the Western Hemisphere during Columbus’s second voyage in 1494/5 (Pérez Jr., 2001; Mulcahy, 2006; Schwartz, 2015). The hurricane experience was unlike anything that Europeans had observed in Europe, and it was from this experience that they sought out intel from the indigenous peoples in the Caribbean. For Caribbean indigenous peoples, “the great storms were part of the annual cycle of life. They respected their power and often deified it, but they also sought practical ways to adjust their lives to the storms. Examples were many: The Calusas of southwest Florida planted rows of trees to serve as windbreaks to protect their villages from hurricanes. On the islands of the Greater Antilles—Cuba, Jamaica, Hispaniola, and Puerto Rico—the Taino people preferred root crops like yucca, malanga, and yautia because of their resistance to windstorm damage. The Maya of Yucatan generally avoided building their cities on the coast because they understood that such locations were vulnerable to the winds and to ocean surges that accompanied the storms” (Schwartz, 2015, p. 5). Further, Indigenous representations of hurricanes were overall accurate and are similar to modern meteorological mapping of these storms. Europeans also learned from Caribbean Indigenous groups that you could “track” when a hurricane would strike. These developments meant that Indigenous Caribbean knowledge of the hurricane was not only limited to the occurrence of storm, but also meant that Indigenous Caribbean societies factored in preparedness for hurricanes within their worldviews.

    Given Caribbean Indigenous knowledge of hurricanes, it is these same people who also recognized that the changes to the landscape by European colonialism contributed to the increased devastation caused by hurricanes between the 1600s-1900s. As such, English colonists who would also come to experience the hurricanes report that “several elderly Caribs stated that hurricanes had become more frequent in recent years, which they viewed as a punishment for their interactions with Europeans” and the main “alteration that our people attribute the more frequent happenings of Hurricanes” (Mulcahy, 2006, p. 35). What these settler accounts reveal about Indigenous Caribbean peoples is what Schwartz notes in his 2015 book, Sea of Storms: A History of Hurricanes in the Greater Caribbean from Columbus to Katrina, that although “hurricanes were a natural phenomenon; what made them disasters was the patterns of settlement, economic activity, and other human action” (p. 74). Nonetheless, colonial ecological and environmental destruction in the Caribbean – which increased the felt impact of hurricanes – remained worthwhile for Europeans given the high profits to be made from export crops, which kept people there to rebuild after hurricanes. Mulcahy in his 2006 book, Hurricanes and Society in the British Greater Caribbean, 1624 – 1783, writes “European settlers and colonists were engaged in a never-ending struggle against nature in their quest for wealth” (p. 93)

    Additionally, the European empire’s responses to hurricanes also influenced decisions to stay. Because colonial societies in the Caribbean were stratified along racial and other social hierarchies – hurricanes presented opportunities for large scale consolidation of plantation property on islands which privileged wealthy plantation owners. Additionally, smaller merchants and plantations which could not recover post hurricane were sometimes forced to transfer ownership to merchants in Europe – who never had to visit these properties while amassing wealth from them thereafter (Mulcahy 2006, p. 88). Disaster relief to the colonies thus came to be historically designed as a way for further economic integration, and “assistance to the colonies in times of disaster would bring wealth and affluence to the empire” (Mulcahy 2006, p. 162). Disaster assistance – while increasing inequalities between all peoples in the colonies – did overall benefit imperial capitalism and patriotism within the empire, amongst loyal subjects, especially amongst elite classes, who received the majority of aid based on their losses.

    Banking on Hurricanes and Absolving Empire of Responsibility: Debates in Europe

    While debates in Europe raged regarding enriching the already wealthy within the colonies with disaster relief – these debates did not change the post-hurricane reality of which those most needing of aid (Indigenous groups, enslaved Africans, indentured workers, small merchants, and small planters) were the least likely to receive it, which was true across all of the different European colonies (Pérez Jr., 2001; Mulcahy, 2006; Schwartz, 2015). “Vulnerability to the hurricane itself was a function of the material determinants” around which colonial social hierarchies were arranged (Pérez Jr., 2001, p. 111). In Europe, debates focused primarily on creditors, so it was argued that the wealthy were more primed to repay creditors when/if they received disaster relief after a hurricane. On the other hand, the proliferation of print news meant that individuals and organizations (e.g., the Church) could send aid to the colonies after disaster struck. Previously, when disaster struck it would take months for news to reach those in Europe, even as the disruptions in trade were more readily felt. Moreover, it was hard for the public in Europe to understand the scale of destruction caused by hurricanes in the Americas, given that this kind of natural disaster did not occur in Europe.

    With the establishment of print media, the destruction caused by hurricanes and the damages that they did to plantation systems – which would require a lot of assistance to recover – was made much more readily available to people who could empathize and assist in recovery efforts. Within the British empire, some newspapers even published who would send what amount and type of post disaster relief to the colonies, which undoubtedly contributed to the charitable giving of some wealthy individuals (Mulcahy 2006; Schwartz 2015). Given that the voyage from Europe to the various colonies was long, there was illegal trading between different colonies to provide relief to one another faster – including with the United States, even after the American Revolution.

    It is this colonial history which still shapes the lack of hurricane preparedness in a region prone to have them. Thus, most scholars on hurricanes in the region continue to highlight the colonial and slave legacies which have shaped regional unpreparedness to hurricanes. Though the United States is a wealthier country today with the capabilities to develop hurricane preparedness – even if only within its own borders – it is elite US security interests and ideological leanings which have prevented it from doing so. Additionally, historians like Schwartz (2015) make a compelling argument that “the United States, by its military and political expansion into the Caribbean after 1898, its foreign policy objectives in the Cold War, and through its advocacy of certain forms of capitalism joined with its ability to impose its preferences on international institutions, has also influenced the way in which the whole region has faced hurricanes and other disasters” (Schwartz, 2015, p. xviii-xix). This implies that the United States – like the European empire’s past – also has a stake, or interest, in regional hurricane unpreparedness for both political, economic, and security objectives.

    US Imperial Extensions in the Caribbean, Impact on Hurricane Preparedness

    From this overview of the history of hurricanes in the Caribbean, the Yucatán Peninsula, the Gulf of Mexico, and the South-Eastern United States a few things become clear: hurricane preparedness has never been a concern for colonial capitalist development. Hurricane disasters came to be recognized as extremely ruinous to those occupying the lowest rungs of colonial societies, aid was given to the wealthy people who were understood as being able to put aid to better usage, and disaster situations consolidated preferred modes of accumulation in otherwise “chaotic” and uncivilized landscapes. Thus, outside of patriotic tales and misremembering of the storm events, historically “hopes of communal solidarity” in the wake and aftermath of hurricanes “were either naïve or disingenuous [… with] social divisions ha[ving] always shaped the responses to hurricanes (Schwartz, 2015, p. 68-9). Given strict colonial hierarchies, the maintenance of order – to dissuade slave revolts and looting – were always preeminent concerns of empires and those with wealth and power. This is important to plainly state, given that little has changed in today’s experience with hurricanes in the region.

    Today’s granting of conditioned relief and temporary debt removals still serve to subordinate Caribbean states to the Western capitalist system and the US security apparatus. Those areas hardest hit by storms and less likely to receive aid, continue to be occupied by the poor populations that are largely non-white/Euro peoples. Settlements on islands continue to be concentrated on coasts, where the tourist industry quickly rebuilds its infrastructure post-hurricane and are the first to receive aid. This at once dispels the myths that recovery is impossible, as it happens in the large coastal areas owned and controlled by foreign hotel chains and entities which quickly beckon tourists back to their “lovely beaches” less than a day after a hurricane. Preparedness for hurricanes in the Caribbean islands are “subordinated to political, military, or what today would be called ‘security’ concerns” (Schwartz, 2015, p. 276). I would include economic and ideological concerns as well. These latter concerns are maintained by the wealthiest states in the hemisphere – the United States and Canada.

    Hurricane Flora in the 1960s claimed the lives of over 5,000 Haitians under the Duvalier dictatorship – which failed to even warn Haitians about the arrival of the hurricane so that disorder against Duvalier would not take over the country. The lack of preparedness was accepted by both the United States and Canadian governments given their fear of communism in the Caribbean region. Thus “unlike Haiti’s U.S.-backed right-wing president, François Duvalier, Castro’s Communist government ordered residents living in the hurricane’s projected path to evacuate their homes, and if they were unable, to stay and prepare appropriately for the storm.” This preparation and the establishment of Cuba’s defense system in 1966 accounted for significantly less deaths (1,157) in Cuba (Wolfe, 2021). Today, unpreparedness remains a feature in most Caribbean countries that put corporate interests and the interests of the US (and its allies) security objectives above the prioritization of human life and livelihoods in the Caribbean.

    As further illustration of this point, even though the 2004 Hurricane Jeanne hit Cuba a lot harder than Haiti – killing 3,000 Haitians – no Cuban lives were lost due to the hurricane (Wolfe, 2021). The historical and present-day case of Haiti is both informative and a cause for worry as we expect future hurricane seasons to be quite bad. Not only is Haiti a fully privatized economy (Wilentz, 2008); but it is also one that has been under the tutelage of the CORE group – a group composed primarily of foreign ambassadors from the US, France, Canada, Spain, Brazil, Germany, and a few representatives from the European Union (EU), the United Nations (UN), and the Organization of American States (OAS) – for over two decades. The CORE group’s tutelage of Haiti has been exceptionally negative, as these states and their ambassadors secure their own corporate and labor interests in the country at the expense of that state’s democracy and national sovereignty (Edmonds, 2024). Thus, disaster preparedness in Haiti has never been an agenda item – and has only gotten worse as those governing the country continue to benefit from political, economic, and environmental disasters there. Present day armed intervention and occupation in Haiti, further makes it unlikely that Haiti will be able to weather the next hurricane season.

    Hurricane Unpreparedness, A Note on Canada

    It is important to remind here that although much is said about US imperialism and security concerns trumping human rights and pro-people development in the region – Canada is not exempt from this critique. For instance, although Canada touts that its military base (OSH-LAC) in the Caribbean is a “support hub” – that also seeks to assist states experiencing disasters, of which hurricanes are included – in 2017 when Category 5 Hurricane’s Irma and Maria wreaked havoc on Dominica, OSH-LAC warships monitored the situation but provided no on the ground help to Caribbean peoples there (John, 2024, p. 12-3). The Canadian government also enacted restrictive migration policies towards those fleeing from the hurricane and its damages. This practice would be repeated by Canada again in 2019 during the aftermath of Hurricane Dorian in The Bahamas (John, 2024, p. 12-3). Given that I am currently living in Canada, it is important to point out that Canada is a state that frequently touts progressive rhetoric on climate change, resiliency, and disaster preparedness in the Caribbean region. However, Canada’s actions continue to render the Caribbean region unprepared alongside the actions of the US.

    In the 2023 Canada-CARICOM summit hosted by Canada, Caribbean prime ministers sought to place climate issues and climate infrastructure at the top of the agenda – however, Canada was mainly concerned with getting support for an armed intervention in Haiti (Thurton, 2023). Haiti remains the most unprepared country in the Caribbean when disasters hit, which made Canada’s insistence on armed intervention and occupation even more tone deaf. Haiti’s unpreparedness is directly tied to US, Canada, France, and CORE group members tutelage and rejection of Haitian democracy ever since that country’s integration into the Western capitalist system via US occupation. These examples illuminate the fact that the wealthier states in the Western Hemisphere, namely the US and Canada, actively disregard the lives of those impacted by hurricanes and other natural disasters to their south – while first and foremost safeguarding their own economic, ideological, and security priorities. In my analysis of ‘south,’ the Caribbean, the Yucatán Peninsula, the Gulf of Mexico, and the South-Eastern United States are included.

    Conclusion

    Ideologically, the promotion of capitalism, colonialism, and imperialism in the Caribbean (of which the South-Eastern United States, the Gulf of Mexico and Yucatán Peninsula is included) continues to pose an obstacle to disaster preparedness in a region prone to hurricanes.  More importantly, the promotion of these harmful ideologies often comes at the expense of human life. Nothing makes this clearer than the fact that it is the revolutionary state – which is also the most heavily economically sanctioned state in the region – Cuba, that continues to be the most prepared state in times of disaster. This stands in stark contrast to other Caribbean states and to wealthier states, like the US, which mandate regional unpreparedness. Today, while we await (but hope that it is not so) a bad hurricane season, the Caribbean region is more militarized than it has been since the end of the 20th century and beginning of the 21st century. Militarization is directly due to US security objectives that aim to keep China’s investments (thus competition) out of the region. This policy is backed by Canada, which seeks to advance its own corporate interests in the region.

    The US and Canada continue to militarize the Caribbean region, exacerbating climate change and neglecting the urgency of developing resiliency infrastructure. In fact, militarization in the Caribbean region today (and in Africa and Asia) occurs alongside the tightening of both the US and Canadian borders given hostile narratives towards immigrants and immigration within them. This even with the region’s long history (as has been pointed out) of people fleeing the region both during and after a hurricane. All of which indicates that while these states are undoubtedly deepening the climate crisis with their global “security” endeavors, they view the people harmed and negatively impacted by their actions as disposable.

    Postscript

    Three months after the writing of this document, 5 hurricanes – Debby, Ernesto, Francine, Helene, and Milton – have impacted peoples and infrastructure in the south. The 2024 Atlantic Hurricane season thus far (October 11th, 2024) has taken almost 400 lives – with the actual figure being uncertain, given that the damage from Milton is still being assessed. Each storm is estimated to have cost between $80 – $250 billion (USD) in damages across the region. While governments talk about costs and recovery efforts to get economies “back on track” and provide people with temporary and conditional aid – which is the post disaster norm – we are presented with an uncomfortable, yet undeniable fact: states in the region, whether by colonial inheritance or commitment to capitalism, are banking on unpreparedness continuing well into the future. We must be proactive in defeating this dangerous ideology that places people’s lives, livelihoods and the physical environment at stake; while perpetuating, in its aftermath, conditions that make it so.

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    Edmonds, Kevin. 2024. “CARICOM, Regional Arm of the Core Group, Sells Out Haiti Again.” Black Agenda Report. https://www.blackagendareport.com/caricom-regional-arm-core-group-sells-out-haiti-again.

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    Jobson, Ryan C. 2024. “Hurricane Beryl at the Gates: The Grenadines and Caribbean Autonomy.” Medium. https://medium.com/clash-voices-for-a-caribbean-federation-from-below/hurricane-beryl-at-the-gates-the-grenadines-and-caribbean-autonomy-86834fb43bcd.

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    Photo Credit: InOldNews, by Delia Louis
    Description: Depicts St. Lucia during and post Hurricane Beryl
    License info: Creative Commons taken from Flickr.

    About the author: Tamanisha J. John is an Assistant Professor at York University in the Department of Politics

    MIL OSI NGO –

  • MIL-OSI United Nations: Experts of the Committee against Torture Commend Kuwait on Positive Measures to Prevent Torture, Raise Questions on the Independence of the Judiciary and the Death Penalty

    Source: United Nations – Geneva

    The Committee against Torture today concluded its consideration of the fourth periodic report of Kuwait, with Committee Experts commending the State on positive measures introduced to combat torture, while raising questions on the independence of the judiciary and the application of the death penalty. 

    Peter Vedel Kessing, Committee Expert and Rapporteur, commended Kuwait for all the positive measures taken, including new laws and regulations to prevent torture.

    Abdul Razzaq Rawan, Committee Expert and Rapporteur for Kuwait, asked if the State party could inform the Committee of any legislative amendments or developments aimed at establishing the judiciary as an authority that was independent of the executive authority, and granting it the full authority to manage the affairs of judges and supervise the preparation of relevant regulations? What measures had been taken to implement the constitutional principle guaranteeing the independence of the judiciary and to implement the requirements of article 163?

    Mr. Vedel Kessing said the number of death sentences and executions carried out had reportedly increased, particularly since 2022.  How many persons had been sentenced to death over the last five years and how many of those persons had been executed?  Was it correct that a person could be sentenced to death for crimes not involving intentional killing, for example drug-related crimes? Allegedly, the abolition of the death penalty would be incompatible with Islamic Sharia, which was the main source of all Kuwaiti domestic legislation, including criminal law.  Would this also apply to a moratorium for the execution of death sentences?   

    The delegation said judges needed to be fully competent and qualified in the field of law or Sharia and did not have the right to exercise political activities. Judges could not be removed from their posts unless disciplinary measures were issued against them.  If judges were related to the accused by four degrees, they were required to recuse themselves from proceedings.  The Ministry of Justice could not get involved in daily cases or the running of the judiciary.  The judiciary was fully independent; there was no involvement from the executive or the parliament in the judiciary.

    The delegation said the death penalty was one of last instance, the maximum penalty issued in the Criminal Code of Kuwait.  It was only enacted for the most serious crimes and was not in contradiction with Islamic Sharia.  At any stage of proceedings, the accused murderer could appeal, or ask for a lighter or reduced sentence, rather than the death penalty.  From 2022 to 2024, there were 80 penalties reduced from the death penalty to a lighter sentence, with people even being released in some cases. In the case of a woman who was pregnant, the death penalty could not be carried out until the child was born. Minors could not be subjected to the death penalty.

    Introducing the report, Naser Alhayen, Permanent Representative of Kuwait to the United Nations Office at Geneva and head of the delegation, said the accession of Kuwait to the Convention against Torture in 1996 was a pioneering step towards promoting rights and preserving freedoms.  Since the submission of the fourth periodic report, Kuwait had taken steps to strengthen the legislative framework related to combatting torture.  These efforts were represented in the issuance of decree-law no. 93 of 2024, which clearly stipulated the definition and prohibition of torture.  The new law tightened the penalties imposed on perpetrators of torture crimes, and strictly criminalised any act of discrimination or ill treatment.

    In closing remarks, Claude Heller, Committee Chairperson, thanked the delegation for the dialogue which had been very constructive.  The Committee aimed to contribute to the improvement of human rights in all States.

    Mr. Alhayen, in concluding remarks, thanked the Committee for the dialogue.  Kuwait was fully committed to the implementation of all international standards and human rights and would continue the constructive dialogue with the Committee and the international community. 

    The delegation of Kuwait consisted of representatives from the Ministry of Foreign Affairs; the Ministry of Justice; the Ministry of Interior; the Ministry of Defense; the Ministry of Social Affairs; the Ministry of Information; the Ministry of Health; the Ministry of Education; the Central System for the Remedy of Situations of Illegal Residents; the Public Authority of Manpower; and the Permanent Mission of Kuwait to the United Nations Office at Geneva.

    The Committee will issue concluding observations on the report of Kuwait at the end of its eighty-first session on 22 November. Those and other documents relating to the Committee’s work, including reports submitted by States parties, will be available on the session’s webpage.  Summaries of the public meetings of the Committee can be found here, and webcasts of the public meetings can be found here.

    The Committee will next meet in public on Thursday, 31 October at 3 p.m. to conclude its consideration of the third periodic report of Namibia (CAT/C/NAM/3).

    Report

    The Committee has before it the fourth periodic report of Kuwait (CAT/C/KWT/4).

    Presentation of Report

    NASER ALHAYEN, Permanent Representative of Kuwait to the United Nations Office at Geneva and head of the delegation, said the accession of Kuwait to the Convention against Torture in 1996 was a pioneering step towards promoting rights and preserving freedoms.  Since the submission of the fourth periodic report, Kuwait had taken steps to strengthen the legislative framework related to combatting torture. These efforts were represented in the issuance of decree-law no. 93 of 2024, which clearly stipulated the definition and prohibition of torture.  The new law tightened the penalties imposed on perpetrators of torture crimes, and strictly criminalised any act of discrimination or ill treatment.  This decree was a milestone in the State’s efforts to strengthen the rule of law and protect human rights, and it imposed severe penalties of up to life imprisonment for certain crimes.  A decree had also been adopted which redefined measures for receiving complaints relating to human rights.

    Kuwaiti legislation included comprehensive protection for women and criminalisation of all forms of violence against them.  The protection from domestic violence law no. 160 of 2020 was issued, which established shelters for victims of domestic violence, and the possibility of reporting violence.  A child protection centre was also established.  The Supreme Council for Family Affairs was working on establishing the third centre for protection from domestic violence and the rehabilitation of survivors.  Law no. 21 of 2015 guaranteed the rights of the child, prohibiting children from deliberately being subjected to any physical or psychological abuse and punishing those who violated these provisions. 

    Specialised enforcement departments had been established to implement family court rulings and settle family disputes.  Social security and insurance were provided to persons with disabilities.  Monthly financial allocations were provided, in addition to a cash allowance for hiring a domestic worker or a driver to meet their daily needs.  During the first half of 2024, the number of residents in social care homes reached 518 people, including 362 citizens and 165 non-citizens. These homes provided integrated rehabilitation and training programmes focused on reintegration.

    The protection of the rights of contracted workers was a top priority for Kuwait, and this was highlighted in law no. 68 of 2015 on the protection of the rights of contracted workers.  Since the adoption of the law, the situation of domestic workers had improved substantially, as strict laws had been imposed to prevent the exploitation of these workers and ensure them full legal protection.  Inspection campaigns were conducted periodically on domestic labour recruitment offices and agencies to ensure that they applied the law; these campaigns issued fines in the event procedures were not followed. 

    Law no. 91 of 2013 aimed to criminalise all forms of human trafficking and provide legal protection for victims.  The National Committee to Combat Trafficking in Persons was established, as well as a specialised prosecutor to investigate these cases.  There had been a significant decrease in the number of trafficking crimes committed from 82 cases in 2020 to nine cases in 2023. A special system had been established for the early identification of victims by training workers at border crossings and hospitals to detect signs of exploitation.  Victims were then transferred to care centres where they received medical, psychological and legal support. 

    Kuwait had adopted an approach that achieved more security for detainees by subjecting all prisons to the supervision of the judicial authority, represented by the Public Prosecution, which was an independent authority.  The current system guaranteed every detainee the right to access a lawyer from the first moment of detention, and ensured that all detainees obtained their legal rights, and were granted an independent medical examination. 

    Mechanisms had been developed which allowed detainees or their families to submit confidential complaints for immediate investigation, with any official found to be involved in ill treatment held accountable.  Advanced training programmes for police officers and prison staff had been developed in cooperation with the Office of the High Commissioner for Human Rights, with a special focus on practical aspects related to dealing with detainees.  Mr. Alhayen concluded by emphasising Kuwait’s full commitment to human rights and to cooperation with the international community. 

    Questions by Committee Experts

    ABDUL RAZZAQ RAWAN, Committee Expert and Rapporteur for Kuwait, congratulated Kuwait for the desire expressed with regards to continued cooperation and dialogue with the Committee.  The Committee congratulated Kuwait on announcing a number of important initiatives and legislation.  The Committee also congratulated the State party on the fact that half the delegation were women, and that the delegation represented multiple sectors, reflecting the importance of the Convention. 

    The Committee congratulated Kuwait for the work of the National Standing Committee on follow-up and communications that prepared the report, while asking for further clarification around the work of this body.  What was the number of organizations which attended consultations for preparing the report, and how did these consultations impact the report? Could the State party elaborate further on the place of the Convention within the national legal system, in particular article 70 of the Kuwaiti Constitution?  What was the impact of this jurisprudence in the country?  To what extent was there an application of the provisions of the Convention by law enforcement officers? 

    Decree-law no. 93 of 2024 amended some provisions of the Kuwaiti Penal Code, with a new article which stipulated that the punishment of a public official who caused physical or psychological harm to a person, or induced him to confess to committing a crime, would face imprisonment for a period not exceeding five years and a fine not exceeding 5,000 dinars.  Penalties for torture should be proportionate to the acts committed and the damage resulting from them.  Torture leading to death was a crime that should be treated as more severe than murder, and should have its own punishment to distinguish it from ordinary murder.  Could the State party comment on this? 

    Could the State party also comment regarding article 37 of the Code of Criminal Procedure, which allowed the use of “any means” during investigations to obtain evidence, provided that it was not contrary to public morals or infringed on the rights and freedoms of individuals?  What procedural safeguards prevented coercion to remove confessions during interrogations and pretrial detention?  What legal texts and legislative measures ensured the exclusion of torture from national legislation on amnesty and immunities?  What was being done to fill this gap at the legislative level and in practice?  The Convention obliged States parties to prevent and prohibit torture in all circumstances, including a state of emergency, war or any other exceptional circumstance.  What were the State’s planned future actions to implement this commitment?

    The Committee was satisfied with the provisions of paragraph 126 of the national report, in particular the requirements of articles 158 and 159 concerning the prohibition of coercion or inducement of the accused to make statements and the invalidity of a confession obtained under duress or torture.  Could current examples be provided of judicial decisions invalidating confessions of accused persons as a result of torture? 

    The Committee had questions regarding the right of detainees to challenge the lawfulness or necessity of their detention.  What actions had been taken to establish safeguards currently, or in the future, as well as the measures taken to enforce respect for them by law enforcement officials?  What measures had been taken with regard to the control of records in all places of deprivation of liberty?  Was there a centralised national information register that included all the data of the records in the detention centres in the country?

    The Committee had expressed concern that judges were appointed by the Supreme Judiciary Council. There was also concern about the independence of foreign judges due to a lack of career security.  Could the State party inform the Committee of any legislative amendments or developments aimed at establishing the judiciary as an authority that was independent of the executive authority, and granting it the full authority to manage the affairs of judges and supervise the preparation of relevant regulations?  This included the conditions for managing the judiciary, appointing judges, tracking their careers, including their dismissal and promotion, and the conditions for appointing foreign judges to ensure their job security.  What measures had been taken to implement the constitutional principle guaranteeing the independence of the judiciary and to implement the requirements of article 163?

    The Committee had previously recommended that the State party adopt a legislative and institutional framework that incorporated international standards on asylum.  Was this on the legislative agenda?  While noting the decisions reported in the report whereby the daily fines imposed in many cases had been abolished, what measures had been taken to give effect to the Committee’s previous recommendation to amend the laws imposing such fines?  What was the nature of cooperation with the Office of the United Nations High Commissioner for Refugees, and could any statistics be provided?   

    What measures were taken during the period under review to ensure that no person was returned to a country where they were in danger of being subjected to torture or ill treatment?  Were those concerned with expulsion, return or extradition informed that they were entitled to seek asylum and appeal against deportation decisions?  What legal and practical safeguards existed to ensure the right of persons for whom deportation orders had been issued, to have their cases reviewed by a competent judicial body?  How many cases of return, extradition and expulsion had been carried out by the State party during the reporting period in exchange for diplomatic assurances?

    Did Kuwaiti law and jurisprudence allow for universal jurisdiction, which was the following and prosecution of crimes of torture, so as to establish jurisdiction in all cases and to ensure that perpetrators did not go unpunished?  If the State received a request for extradition from a State where Kuwait had no extradition agreement or treaty, what were the legislative and administrative measures needed to ensure that the Convention could be invoked as a legal basis for extradition?  Had the State ever refused a request by another State for the extradition of an individual suspected of the crime of torture?  Had it initiated any criminal proceedings against that individual as a result?  If so, could information on the status and results of these proceedings be provided?

    Could the delegation provide the Committee with information on any specialised programmes aimed at raising awareness of law enforcement officials, including security and prison personnel, and the measures adopted by the State party to prevent torture?  Had any programmes been adopted and implemented to train police cadets and officers in non-coercive investigative techniques?  Could information be provided on the assessment, review and updating of interrogation rules for persons who had been subjected to any form of arrest, detention or imprisonment?  What did the State of Kuwait intend to do to fulfil the obligation of monitoring practices related to interrogation, methods of detention, and treatment of persons arrested?

    The Committee would appreciate receiving information on the cases in which the legal provisions on the protection of witnesses and medical professionals documenting acts of torture and ill treatment had applied, in particular cases where these provisions had not been respected and action that had been taken against persons who had violated these legal requirements?  Taking into account the legal amendments on torture, did Kuwait intend to accompany these amendments by allocating legal provisions related to the protection of victims, witnesses and medical experts in criminal law? 

    Article 14 of the Convention obligated States parties to provide a legislative framework for the right of victims to effective remedy and adequate compensation.  What measures would be taken to give effect to this commitment through the adoption of legislation and institutional requirements? What measures of reparation and compensation, including court-ordered rehabilitation methods, had been made available to victims of torture and ill treatment or their families since the consideration of the previous periodic report?  Were programmes being implemented to provide reparation to victims of torture and ill treatment, including health and psychological rehabilitation?

    PETER VEDEL KESSING, Committee Expert and Rapporteur, asked what progress had been made to establish a fully independent National Human Rights Institution in line with the Paris Principles?  Did the Government agree with reports that some law enforcement officers still engaged in abuse and ill treatment during arrest or interrogation? How many complaints of torture and ill treatment had been received over the last three years and what was the outcome of these complaints?

    Were the three institutions which could investigate allegations of torture – the Office of the Public Prosecution, the General Directorate for Oversights and Inspection in the Ministry of Interior, and the National Bureau for Human Rights – completely independent from the Government as required under the Convention?  Would the State party consider establishing a fully independent institution that could investigate violations of the Convention in an effective and impartial way?  How many complaints had the Bureau received over alleged torture and ill treatment over the last three years?  What was the outcome of these cases? 

    Overcrowding in prisons continued to be a significant problem, particularly in the central prison. The prison population was reported to be at an occupancy rate of 126 per cent in 2023.  What efforts that had been taken to improve the living conditions in prisons?  Was the Government considering additional efforts since the problem with overcrowding had not been solved?  What progress had been made on the building of the new prison? 

    A law reportedly allowed the use of shackling of hands and feet for up to a month and the deprivation of certain types of food for a week as disciplinary punishment.  How many detainees had been shackled over the last three years?  What kind of offence warranted this punishment?  How many detainees had been deprived of food over the last three years? 

     

    How could a prisoner make a complaint over ill treatment in the prison?  How many complaints of ill treatment had been received over the last three years and what was the outcome of these cases?  Was it correct that some officers only received a decrease in their salaries as a penalty for having subjected detainees to torture and other forms of ill treatment?  How many visits had the International Committee of the Red Cross undertaken to places of detention from 2019 and onwards?  How many announced and unannounced visits had the National Bureau for Human Rights carried out to places of detention over the last three years? How had Kuwait followed-up and implemented the recommendations from the independent institutions visiting places of detention in Kuwait?

    The number of death sentences and executions carried out had reportedly increased, particularly since 2022.  How many persons had been sentenced to death over the last five years and how many of those persons had been executed?  Was it correct that a person could be sentenced to death for crimes not involving intentional killing, for example drug-related crimes?  Allegedly, the abolition of the death penalty would be incompatible with Islamic Sharia, which was the main source of all Kuwaiti domestic legislation, including criminal law.  Did this also apply to a moratorium for the execution of death sentences?   

    The delegation had provided important information on steps taken to improve the protection of foreign workers, including reviewing the laws, improving working conditions, and criminalising trafficking, which were positive steps.  However, it was reported that there was a high death rate among migrant workers who carried out dangerous work, particularly in construction sites.  How many migrant workers had died in Kuwait over the last three years?  What measures were taken to protect migrant workers from ill treatment and exploitation?  Why was a domestic worker not allowed to freely resign and change workplace?  Why did they need the consent of or authorisation from the employer to change workplace?

    The Committee appreciated the steps taken by Kuwait to counter domestic and sexual violence. Could marital rape be punished in Kuwait?  Were there concrete court cases where martial rape had been punished as a criminal offence? What was the outcome of the court cases involving violence against women?  In how many cases were the accused persons convicted for a crime and what were the sentences?  Was the Government considering a ban on corporal punishment in all settings? 

    There had been reported concerns that Bidoon citizens were being denied access to education, health care and employment, and faced mass arrests, torture and abuse when trying to exercise their right to freedom of peaceful assembly.  Did the Government accept the criticism and recommendations from the United Nations Human Rights Committee and from other sources, and was it willing to improve conditions for the Bidoons?

    A Committee Expert said prolonged solitary confinement was proven to undermine the standards outlined in the Convention.  Under what circumstances was incommunicado detention authorised?  Would the State party consider abolishing incommunicado detention? 

    Responses by the Delegation 

    The delegation said the National Standing Committee on follow-up and communications was established in 2019.  This Committee was delegated to respond to reports regarding the human rights situation in Kuwait and was assigned with preparing periodic reports presented to international bodies, and coordinating with non-governmental organizations working in the field of human rights.  The Committee was operational and was present in the meeting.  Its staff received the necessary training to support its mandate. This Committee had been in contact and coordinated with the Office of the High Commissioner for Human Rights. 

    The promulgation of the 1996 law approving the adoption of the Convention meant that this instrument was part of the national legal framework in Kuwait.  A judge could invoke the Convention in the issuance of verdicts.  There was no need for another process or procedure for the Convention to be part of national legislation.  A new text in the legislation included a penalty for using torture to extract a confession.  A new law punished every official who had acquiesced to a request of torture. 

    Any official or service provider who inflicted physical or mental harm against a person or their family members, or forced them to provide statements thereof, could be found guilty of torture.  The punishment was a sentence of not more than five years and not less than 5,000 dinars. There was also a criminalisation of discrimination in connection with torture.  If torture led to death, then a person was charged with the crime of a deliberate murder.  The sentence was then death, and there was no harsher punishment. 

    The Public Prosecutor conducted investigations and interrogations into charges of torture. Defendants could deny such charges. Everything took place under the supervision of the courts.  A defendant could adhere to the invalidity of such a confession.  If a confession was obtained under torture, then it was dismissed by the court.  The court resorted to many principles related to the invalidity of confessions extracted under torture.  In a case when a police officer had forced a defendant to provide a confession, the defendant was acquitted.  Acquittal was premised on the examination of evidence in the case. 

    If a detainee requested a medical evacuation, medical care was provided under the supervision of the police.  Anyone sentenced to imprisonment had their names recorded in an electronic system which was supervised by multiple agencies.  If their detention period exceeded the terms stipulated in the law, there was a notification, and those in charge were held accountable. 

    Judicial safeguards were in place, including that the individual had the right to know the reason for their arrest.  If the individual could not appoint a lawyer, the State had the right to appoint a lawyer for them.  All questioning should be done by specialist bodies, and it was up to the judge to release the person or keep them in detention.  Detainees could appeal at any stage of the judgement.  Questioning could only be conducted by trained, specialised staff, not just the police.  The accused individual had the right to request an examination to ensure there were no injuries, which needed to be included in the investigation report. The arrested individual had the possibility of appointing somebody to witness this. 

    Judges needed to be fully competent and qualified in the field of law or Sharia and did not have the right to exercise political activities.  Judges could not be removed from their posts unless disciplinary measures were issued against them.  If judges were related to the accused by four degrees, they were required to recuse themselves from proceedings.  The Ministry of Justice could not get involved in daily cases or the running of the judiciary.  They could recommend the appointment of judges when necessary.  Kuwait had chosen to ensure a separation of powers.  The judiciary was fully independent; there was no involvement from the executive or the parliament in the judiciary. 

    Currently, there were no persons subject to a decision of exile or expulsion.  If such a decision was taken, it was implemented in cooperation with the United Nations High Commissioner for Refugees, allowing the affected persons to be supported.  All foreign individuals could not be exonerated from fines imposed upon them. Any individual who had received fines was obliged to pay them before being deported.  In cases where people were unable to pay the fines, they could pay them subsequently in cooperation with third parties. 

    Responses by the Delegation

    The delegation said the definition of the crime of torture was challenging, as there was a need to define what behaviours constituted torture.  For example, if an individual was compelled to disclose information under duress, this could equate to torture, even if they were not subject to physical constraint.  One did not have to be the perpetrator of torture to be covered by the acts under the law; individuals could be sanctioned as a standby witness.  Any physical act of torture was a crime and the Kuwaiti legislator had established as a minimum threshold, a three-year imprisonment.  If the acts committed had long-term impacts and were severe, the sanctions would be increased.  Pre-mediated crimes could be punished by life imprisonment or the death penalty.  The crime of torture was an absolute crime, and mitigating circumstances could not be used to downplay or excuse acts of torture. 

    Awareness campaigns had been rolled out on national radio and television stations to make the public aware of the serious nature of the act of torture.  Social media networks had published advertisements and short awareness-raising videos and clips.  The campaign aimed to ensure that violence was not seen as mainstream or normal, whether in schools or in the family.  All channels were used to repeat this point.  A robust checking system was in place to monitor campaigns and check results.  Steps were taken to ensure unjustified violence was never promoted or mainstreamed, and to crack down on misinformation which could foster unrest and discrimination.  Producers who violated requirements were held accountable.  There were rare cases where scenes of violence had been broadcast, for example during the COVID-19 pandemic.  These were immediately followed up on and assessed, and action was taken to hold those responsible to account. 

    Initiatives had been conducted to be conducive to awareness raising in schools, to ensure victims of violence could have access to support.  All measures were taken to support the psychological wellbeing of women. Around 60 clinics provided women victims of violence with psychological support.  Specialised non-governmental organizations worked with victims of domestic violence and conducted training for self-defence.  Each State had rules for interrogation and treating any person who was under arrest, in such a way to ensure there were no acts of torture involved.  There first needed to be a medical observation of the entire body of the arrested person prior to interrogation, and they were then given the opportunity to meet with a lawyer.  If the arrested person did not speak Arabic, they would receive the support of an interpreter. 

    In the cases of detention, the detainee was entitled to all communication tools, access to a lawyer, and the ability to communicate with their family members to inform about their whereabouts.  All cases involving compensation for acts of torture were actioned through a special administration.  From 2020 to 2023, there were only nine torture complaints.  Torture was not considered a phenomenon or a scourge in Kuwait. 

    The National Bureau for Human Rights conducted training and developed content to disseminate a general culture about human rights, and also contributed to building programmes on human rights training in schools.  The protection and promotion of human rights was promoted through a website, social media networks, and awareness raising campaigns.  This year, the Bureau participated in a conference on local and regional initiatives for human rights.  The Bureau supported rehabilitation and penitentiary centres and could conduct visits to places of detention, women’s shelters, and other institutions without any clearance needed.  Investigations against the police were conducted in the event of complaints.  If it was found that these complaints were legitimate, sanctions were imposed, including the loss of salary or job. 

    Twenty-one memorandums of understanding had been signed with other countries to govern the issue of domestic workers.  Kuwait heeded its commitments under the International Labour Organization conventions.  A hotline was provided to all workers, enabling them to file complaints at any time.  One hundred and fifty-three inspection campaigns had been conducted in July.  Seven violations against domestic workers had been recorded in 2024. 

    Any domestic worker could request a change of employment without requiring the approval of their previous employer.  An awareness campaign which targeted domestic workers was being rolled out, focused on raising awareness for current and prospective domestic workers about their rights, as well as promoting the hotlines and contact points they might need.  

    Being held incommunicado in isolation cells could only be imposed in specific circumstances, for example if the person was self-harming while in detention.  The death penalty was one of last instance, the maximum penalty issued in the Criminal Code of Kuwait.  It was only enacted for the most serious crimes and was not in contradiction with Islamic Sharia.  At any stage of proceedings, the accused murderer could appeal, or ask for a lighter or reduced sentence, rather than the death penalty.  From 2022 to 2024, there were 80 penalties reduced from the death penalty to a lighter sentence, with people even being released in some cases. In the case of a woman who was pregnant, the death penalty could not be carried out until the child was born. Minors could not be subjected to the death penalty. 

    The crime of rape was defined with the non-presence of consent.  Consent was a constant, including in a marriage.  If consent had not been given, this was recognised as being a rape and was defined as a rape in the Criminal Code.  If marital rape occurred, this was criminalised and the perpetrator was punished. This relied on the woman registering a complaint of rape.  The existing legislation in Kuwait did meet the requisite standards.  The sanctions and punishments were commensurate with the degree of harm suffered. 

    Crimes of sexual violence had multiplied, including rape and non-consensual sexual relationships with minors.  Some of the sentences handed down for these cases were life imprisonment, with the minimum sentences being 15 years in certain circumstances.  This highlighted that the justice system was working as it should in Kuwait, with perpetrators being duly sanctioned. 

    The State did not currently intend to lift its reservations to the Convention, as doing this would pose a risk to the State’s sovereignty.  Any detainee who had health concerns where their lives were at risk were assessed by doctors, and in some cases could be provided with a conditional release. 

    The Government was continuing its tireless efforts to address the issue of stateless persons.  An action plan had been adopted which served as a roadmap. There were 10,260 stateless persons in Kuwait who were currently in the regularisation process.  People undergoing this process received long-term resident permits and received medical insurance cards.

    Kuwait guaranteed the right to freedom of expression and peaceful assembly.  The country had signed 15 extradition agreements, which were bilateral agreements between Kuwait and third parties.  In the event no treaty was in place, Kuwait referred to the principle of reciprocity.

    Laws and regulations punished terrorist acts and crimes, money laundering, and the financing of terrorism. Kuwait had a specialised department on combatting terrorism, money laundering and terrorism financing. Twenty-eight terrorist cases had been registered over the past four years.  Thirty-five inmates currently were being held in prison for being associated with a group which presented a threat to the nation. 

    Kuwait had rehabilitation and mental health follow-up programmes for persons in institutions, which allowed these persons to avoid relapse.  Therapy sessions were conducted, in which persons were evaluated at the psycho-social level and evaluated from a general risk perspective before they were discharged. A social and family integration programme was in place for persons with disabilities.  Allowances were provided for personal assistants and drivers. Five hundred and eighteen persons were in social care institutions.  These included persons with severe psychological and motor disabilities. 

    Questions by Committee Experts

    ABDUL RAZZAQ RAWAN, Committee Expert and Rapporteur for Kuwait, said torture was a serious and grave crime within international human rights law.  Therefore, it was absurd that there were no provisions thereon, and the Committee insisted on this.  Mr. Rawan commended the provisions in the civic law of Kuwait, which provided for reparations.  Could the delegation explain in detail the course of the reforms undertaken by Kuwait? Were there any special education programmes to support the Convention among law enforcement officers? 

    All countries were recommended to provide training in the provisions of the Istanbul Protocol.  Did Kuwait provide such training?  Was there a law which governed the use of forensic medicine in Kuwait?  The Convention considered mechanisms monitoring deprivation of liberty as an effective means to combat torture.  It was hoped that Kuwait would ratify the Optional Protocol to the Convention. Regarding fundamental legal safeguards, it was vital for family members to be notified of one’s place of detention.  Could clarifications be provided on whether this was complied with?   

    PETER VEDEL KESSING, Committee Expert and Rapporteur, commended Kuwait for all the positive measures taken, including new laws and regulations to prevent torture.  It was understood that the State was willing to tighten the penalty for torture to more than five years, which was commensurate with the gravity of the crime.  This was commendable.  What was to process from here on?  When could it be hoped that there would be changes?  Would the Government apply for international accreditation for the National Bureau for Human Rights?  Was it common to have video or audio recordings of police interrogations?  If there were allegations against a police officer, who would investigate that complaint? 

    Could a domestic worker easily terminate a contract with a month’s notice, or were they always required to supply a reason?  It was encouraging to learn that Kuwait was considering a ban on the use of shackles. Could the State be more specific on the timeline?  Had the new prison been built to tackle the issue of overcrowding?  Could updated statistics be provided on deaths in custody? Had deaths in custody been investigated? What measures were being taken to prevent these kinds of deaths? 

    Responses by the Delegation

    The delegation said sovereignty was a sensitive issue, all the more so when international texts and treaties departed from national legislation.  The State of Kuwait was firmly resolved to prosecute and punish any act of torture, irrespective of the perpetrator of that act.  The law on protection from corporal punishment 2020 expressly prohibited any act of violence against a child.  A unit was set up which responded to complaints of ill treatment against children, including corporal punishment.  Immediate investigations were launched into allegations of abuse in schools.  Any report of abuse needed to be followed up on immediately. 

    The Office of the Prosecutor was mandated to prosecute crimes brought before it, including torture.  Once the Office was seized with a case of torture, an effective streamlined system ensured a rapid investigation into the reported case of torture.  The Public Prosecutor’s Office was also an independent, oversight body which enacted measures to ensure oversight of places of deprivation of liberty.  Since 2009, it had the right to carry out visits to verify the conditions of places of deprivation of liberty.  The visits were also used to ensure that there were not acts tantamount to torture, ill treatment or abuse being carried out. 

    If an act of torture had led to a loss of life, the sentence would be toughened up to the death penalty.  If a doctor believed a patient in hospital ran the risk of being tortured, they would report it to the police unit in the hospital which would take legal measures against the perpetrator. 

    Around 53,000 domestic workers had changed careers to jobs in the public sector.  When a suspect or defendant was under interrogation, they were informed of their rights.  Twenty-two cases of detention without grounds between 2020 and 2024 had been referred to the competent judicial authorities, who referred the cases to the competent courts. A decree regulated the suspension of a police officer, following reports of excessive use of force. 

    A study was being conducted to amend the article in regard to the use of discipline of inmates.  It was hoped that this amendment would see the light of day, and the article would then be in line with the Mandela and Bangkok Rules. Remand in custody was limited by law and could not be extended.  The provision of a hotline was a safeguard, which was open to Kuwaitis or non-Kuwaitis to lodge any abuse of their rights, including complaints against police officers. Kuwait would recommend that the National Bureau for Human Rights seek accreditation under the Global Alliance of National Human Rights Institutions.

    Question by a Committee Expert

    ABDUL RAZZAQ RAWAN, Committee Expert and Rapporteur for Kuwait, said the judiciary had a fundamental role in preventing torture and implementing the provisions of the Convention. It was hoped the State would take into account shortcomings which could impact the work of the judges and judiciary into account. 

    Responses by the Delegation

    The delegation said the judicial authority in Kuwait was fully independent of the executive and legislative authority; these were separate powers.  In practice, there was no interference whatsoever.  Rules might imply an interference, but in practice, this was not the reality.  The Kuwaiti judiciary and the Office of the Prosecutor General were fully independent from a technical standpoint. 

    Closing Remarks

    CLAUDE HELLER, Committee Chairperson, thanked the delegation for the dialogue which had been very constructive.  The Convention was respectful of sovereignty.  The Committee aimed to contribute to the improvement of human rights in all States. 

    NASER ALHAYEN, Permanent Representative of Kuwait to the United Nations Office at Geneva and head of the delegation, thanked the Committee for the dialogue.  Kuwait was fully committed to the implementation of all international standards and human rights and would continue the constructive dialogue with the Committee and the international community. 

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    CAT24.019E

    MIL OSI United Nations News –

  • MIL-Evening Report: How do children learn good manners?

    Source: The Conversation (Au and NZ) – By Sophia Waters, Senior Lecturer in Writing, University of New England

    Pexels/Anna Shvets

    Ensuring kids have manners is a perennial preoccupation for parents and caregivers.

    How, then, do you teach good manners to children?

    Modelling good manners around the home and in your own interaction with others is obviously crucial.

    But there’s a clear uniting theme when it comes to manners in Australia: in Australian English, good manners centre on honouring personal autonomy, egalitarianism and not appearing to tell people what to do.

    Which manners matter most in Australia?

    Some of the most important manners in Australian English are behavioural edicts that focus on particular speech acts: greeting, requesting, thanking and apologising.

    These speech acts have a set of words associated with them:

    • hello
    • hi
    • may I please…?
    • could I please…?
    • thank you
    • ta
    • sorry
    • excuse me.

    Good manners make people feel comfortable in social situations by adding predictability and reassurance.

    They can act as signposts in interactions. Anglo cultures place a lot of weight on egalitarianism, personal autonomy and ensuring we don’t tell people what to do.

    If you want to get someone to do something for you – pass you a pen, for example – you frame the request as a question to signal that you’re not telling them what to do.

    You’ll also add one of the main characters in Anglo politeness: the magic word, “please”.

    This framing recognises you don’t expect or demand compliance. You’re acknowledging the other person as an autonomous individual who can do what they want.

    If the person does the thing you’ve asked, the next step is to say “thank you” to recognise the other person’s autonomy. You’re acknowledging they didn’t have to help just because you asked.

    ‘Say ta!’
    DGLimages/Shutterstock

    The heavy hitters

    The words “please” and “thank you” are such heavy hitters in Australian English good manners, they’re two of the words that language learners and migrants learn first.

    They can help soften the impact of your words. Think, for example, of the difference between “no” and “no, thank you”.

    Of course, there are times when “no” is a full sentence. But what if someone offered you a cup of tea and you replied “no” without its concomitant “thank you” to soften your rejection and acknowledge this offer didn’t have to be made? Don’t be surprised if they think you sound a bit rude.

    The other big players in Australian English good manners are “sorry” and “excuse me”. Much like in British English, the Australian “sorry” means many things.

    These can preface an intrusion on someone’s personal space, like before squeezing past someone in the cinema, or on someone’s speaking turn.

    Interrupting or talking over someone else is often heavily frowned on in Australian English because it is often interpreted as disregarding what the other person has to say.

    But in some cultures, such as French, this conversational style is actively encouraged. And some languages and cultures have different conventions around what good manners look like around strangers versus with family.

    Good manners involve saying certain words in predictable contexts.

    But knowing what these are and when to use them demonstrates a deeper cultural awareness of what behaviours are valued.

    Talking over someone else is often heavily frowned on in Australian English.
    MDV Edwards/Shutterstock

    How do children learn manners?

    As part of my research, I’ve analysed parenting forum posts about “good manners”. Some believe good manners should be effortless; one parent said:

    Good manners shouldn’t be something that a child has to think about […] teach them correctly at home from day one, manners become an integral part of the way they view things.

    Another forum user posited good modelling was the key, saying:

    the parent has to lead by example, rather than forcing a child to say one or the other.

    One study, which involved analysis of more than 20 hours of videorecorded family dinner interactions collected in Italy, found mealtimes are also sites where parents control their children’s conduct “through the micro-politics of good manners.”

    By participating in mealtime interactions, children witness and have the chance to acquire the specific cultural principles governing bodily conduct at the table, such as ‘sitting properly’, ‘eating with cutlery’, and ‘chewing with mouth closed’.

    Yet, they are also socialised to a foundational principle of human sociality: one’s own behavior must be self-monitored according to the perspective of the generalised Other.

    In Australian English, that means regulating your behaviour to make sure you don’t do something that could be seen as “rude”. As I argued in a 2012 paper:

    While child socialisation in Anglo culture involves heavy discouragement of rudeness, French does not have a direct equivalent feature […] French children are taught ça ne se fait pas, ‘that is not done’. Where the French proscribe the behaviours outright, the Anglos […] appeal to the image one has of oneself in interpersonal interactions.

    In Anglo English, the penalties for breaches could be other people’s disapproval and hurting their feelings.

    Good manners form part of the bedrock for human sociality.
    Shutterstock

    Why are good manners important?

    Good manners affect our interactions with others and help us build positive relationships.

    Fourteenth century English bishop and educator, William of Wykeham, declared that “manners maketh the man”.

    John Hopkins University Professor Pier Forni called them a “precious life-improvement tool.”

    The “Good Manners” chart, based on a set of rules devised by the Children’s National guild of Courtesy in UK primary schools in 1889, was issued to Queensland primary schools until the 1960s.

    It tells kids to remember the golden rule to “always do to others as you would wish them to do to you if you were in their place.”

    Good manners form part of the bedrock for human sociality. Childhood is when we give kids foundational training on interacting with others and help them learn how to be a culturally competent member of a society.

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

    – ref. How do children learn good manners? – https://theconversation.com/how-do-children-learn-good-manners-237133

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: E3 foreign ministries call for the urgent renewal of Israeli-Palestinian correspondent banking services

    Source: United Kingdom – Executive Government & Departments 3

    Statement calling on Israel to urgently renew reciprocal banking arrangements to prevent economic collapse in the Occupied Palestinian Territories.

    The foreign ministries of France, Germany and the United Kingdom call for the urgent renewal of Israeli-Palestinian correspondent banking services for a period of at least one year. Failure to renew would completely suspend cross-border trade, which would be catastrophic for the Palestinian economy. This will endanger regional security and harm Palestinian and Israeli businesses alike.

    We note the significant steps completed in recent months to mitigate risks related to illicit financing, including the completion of a National Risk Assessment by the Palestinian Monetary Authority and agreement for a MENAFATF on-site evaluation to take place next year.  

    We urge the Government of Israel to renew the indemnifications without delay for a period of least one year, in line with their obligations under the Paris Protocol. We are committed to working with Israel and the Palestinian Authorities to continue countering the financing of terrorism while reiterating that a failure to renew indemnifications, or another temporary renewal, would be unacceptable and cause serious economic damage to both Israel and the West Bank.

    Updates to this page

    Published 30 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI China: China publishes world’s first international standard for stem cell data

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 30 — The world’s first international standard for stem cell data, ISO8472-1, has been officially released, the Institute of Zoology of the Chinese Academy of Sciences said Wednesday.

    This standard is expected to enhance global stem cell data management and make contributions to the advancement of stem cell research and applications, according to the institute.

    As biotechnology advances rapidly worldwide, stem cell data is proliferating. However, the lack of international standards for stem cell data has resulted in issues such as unregulated data management and low efficiency in data sharing and application.

    ISO8472-1, co-formulated by experts from China, Japan, the Republic of Korea, Germany, the United Kingdom, the United States, France, and other countries, stipulates a framework for the interoperability of stem cell data. It is applicable to related databases, data management systems, web interfaces, and more in the field of stem cell research.

    The release of ISO8472-1 will provide standard and guidance for data management in the field of stem cells and offer a systematic framework for the development of subsequent international standards for stem cell data, said Qiao Gexia, director of the Institute of Zoology.

    MIL OSI China News –

  • MIL-OSI USA: Suzy DiMont Works at the Intersection of Research and Action

    Source: US National Renewable Energy Laboratory

    Distinguished Member of Operations Staff Is Busy Making the World a Better Place

    Suzy DiMont is a force to be reckoned with.

    Suzy DiMont. Photo by Werner Slocum, NREL 

    Since she was hired at the National Renewable Energy Laboratory (NREL) in 2014, the Energy and Sustainability manager has evolved from an intern to a program manager and integral member of the Women’s Network Employee Resource Group (ERG). On the Intelligent Campus team, she is involved with all things sustainability, including the annual commuter survey, Site Sustainability Plan, and climate resilience planning and was also a key contributor to the NREL Smart Labs initiative, which NREL uses to meet sustainability goals.

    DiMont is actively engaged in her community and is always looking for ways to give back. Annually, she participates in the Bike MS NREL team ride to raise funds for multiple sclerosis (MS) research. As a member of the Women’s Network, she regularly mentors NREL peers and helps enable pathways for the professional advancement of women.

    Earlier this year, DiMont was named a Distinguished Member of Operations Staff for her “dedication to advancing NREL’s mission and making meaningful strides toward a sustainable and clean energy future.” As a member of the Intelligent Campus Program, she is the primary point of contact with the U.S. Department of Energy’s Golden Field Office and manages NREL’s electric vehicle supply equipment rollout and cost recovery program and NREL’s energy and water utility billing.

    When asked if she ever gets time to rest amid numerous projects, leadership roles, and community engagement activities, DiMont responded, “I do rest, I do rest. Well, I have a toddler now, so I don’t rest.”

    Then, always finding a way to make others shine, DiMont said, “It’s not just me doing it. I couldn’t do it by myself. I work with a lot of really great people all over the lab.”

    During her decade at the laboratory, DiMont has collaborated with diverse groups across NREL and is constantly getting involved with new projects related to sustainability. Although this line of work may seem custom fit, her path from student to educator to engineer to Sustainability manager was far from linear.

    Suzy DiMont, husband Neil, and Kosol Kiatreungwattana on their first Bike MS Ride. Photo by Suzy DiMont, NREL 

    A Lifelong Love for Learning

    As a child, DiMont did not long to settle into a perfect career. Instead, her innate curiosity sparked a desire to learn and participate in as many activities as possible.  

    “I don’t know if I ever really had a dream that I wanted to work,” DiMont said. “I always had a dream that I wanted to learn. I really liked school, I liked all topics, I liked everything. Math, reading, art, history, science—I wanted to do all of it.”

    DiMont’s desire to be a well-rounded learner drew her to a liberal arts education at Hamilton College in New York.

    At Hamilton, she explored a variety of majors—psychology, art, French, and archeology—before landing on anthropology and mathematics.

    Her first job after college was teaching math at the Solebury Boarding School in Pennsylvania. The role was intimidating because, although DiMont was a lifelong learner, she had no practice developing formal lesson plans for grade schoolers. She learned how to write tests that were appropriately challenging for students and experienced the joys of being a dorm mom for the girls on campus. DiMont also realized teaching was not her calling.

    After leaving Solebury, DiMont joined AmeriCorps, an independent U.S. government agency focused on service and volunteerism, and began working for the “I Have a Dream” Foundation. DiMont worked with students at under-resourced schools on dropout prevention and helped the students, known as “dreamers,” realize their aspirations and connected them with support.

    One of DiMont’s former dreamers, Anakary Valenzuela, is now a business support administrative associate for NREL’s Mechanical and Thermal Engineering Sciences (MTES) directorate. She remembers meeting DiMont as a sophomore at Centaurus High School in Lafayette, Colorado.

    Valenzuela had been a dreamer since second grade and was all too familiar with the influx of AmeriCorps members who served for a year then moved onto the next opportunity. DiMont was different. She stayed with the program for three years—long enough to see the cohort of students graduate high school—and she took a genuine interest in the lives of students she mentored.

    When Anakary Valenzuela was a student, the “I Have a Dream” Foundation hosted an event to celebrate high school graduation. Photo from Casie Zalud Photography

    “She was the best AmeriCorp we ever had,” Valenzuela said. “I would go to her for advice. She would mentor me. [She was] my counselor, my friend. She would always stay extra hours to talk to us if it had to do with homework or college prep or advising us on what type of college we should go to or major [we should declare]. And then she would drive us home.”

    Their friendship extended well beyond Valenzuela’s high school graduation as DiMont informally mentored Valenzuela throughout college and encouraged her to apply at NREL. After Valenzuela was hired, DiMont encouraged her to get involved with the Women’s Network and Hispanic and Latinx Alliance and invited her to ERG meetings and dinners to make friends and build her network.

    “She inspires me to do more. I feel like I am part of her family,” Valenzuela said. “I can always count on her, she’s always been there. I don’t know how she does everything, but I’m so grateful that we crossed paths in this lifetime.”

    From Educator to Engineer

    During her three years with AmeriCorps, DiMont realized she could pursue her dual loves for mathematics and community engagement with a career in engineering. Working with low-income students exposed disparities in the lack of access to civil infrastructure. She saw engineering as a way to make infrastructure and transportation equitable for all.

    DiMont enrolled in the Engineering and Developing Communities graduate program at the University of Colorado (CU) Boulder. DiMont got involved in the Renewable and Sustainable Energy Institute, known as the RASEI program, now a joint program between NREL and CU Boulder.

    The university was DiMont’s introduction to NREL, via one of the laboratory’s vocal supporters: former NREL research technician Marc Landry.

    “What an incredible human,” DiMont said. “He would not stop talking about NREL and what a wonderful place it was … an unbelievable mind.”

    During one of the first events DiMont attended as an intern in 2014, Xcel Energy awarded NREL the Self-Direct Achievement Award. Photo from Suzy DiMont, NREL 

    During graduate school, DiMont pondered a career in international development work. She and her then boyfriend, now husband, traveled to Bolivia with a South Dakota Engineers Without Borders program to participate in a water development project. Although the work was important, she felt it was better to stay in Boulder.

    “To do international development work well, you have to be part of that community, and you have to invest in that community and spend time there and be there,” DiMont said. “You can’t just swoop in with technology. It’s not kind; it’s not effective.”

    After hearing Landry sing NREL’s praises for so many years, DiMont decided to apply for a sustainability internship at NREL.

    ‘Sustainability Is a Marathon, not a Sprint’

    As DiMont evolved from an intern into her current role, much of her work folded into the Intelligent Campus program, which leverages NREL campuses to advance research and achieve operational excellence by deploying cutting-edge control and analytics technology. Or in DiMont’s words, her job “sits at the intersection of research and making things happen.”

    She focuses on creating programs and strategies to implement changes regarding energy efficiency, the kind of energy NREL uses, and getting to net zero. However, DiMont acknowledged that “sustainability is a marathon, not a sprint.” For NREL to achieve its sustainability goals, the right folks—including researchers, subject matter experts, communicators, and technicians—need to come together and stay excited about work ahead.

    “A lot of what we do won’t have an impact for a while. That’s why it’s important to keep a generational lens,” DiMont said. “It’s not always easy, but having a great team makes it possible. They can commiserate with you, they support you, they back you up.”

    The NREL Waste Reduction and Pollution Prevention Team was recognized for a DOE Sustainability Award in 2016. Right to left: Ali Mohagheghi, Kenneth Proc, Kevin Donovan, Ellen Fortier, Laura Justice, Nancy Stovall, Laurie Snyder, Suzy DiMont and Susan Chadwick. Photo by Dennis Schroeder, NREL

    Making the World a Better Place for All

    When it comes to making the world a better place, for DiMont, that starts with making NREL a better place. As an early member of the Women’s Network, Suzy advocates for diversity in STEM (science, technology, engineering, and mathematics). The Women’s Network is one of NREL’s 11 ERGs and provides a platform for promoting women in leadership and the workforce.

    “I think the Women’s Network is so important, because there is still, especially in research in STEM, so much discrimination against women, people of color, women with intersectional identities, folks that are marginalized in some way,” DiMont said.

    For many, the biggest hurdle is staying in a career field if you see few people who look like you or share your experiences.

    “It’s a huge loss, because these are the fields where we need a diversity of thought, people that don’t see the world the same way, that think about problems differently, people that lead differently,” DiMont said. “You need that diversity in a field where you’re looking for innovation and new things. To reach everyone on the planet, you must have that diversity to be successful.”

    During her tenure at NREL, DiMont has witnessed major changes in the ways NREL promotes diversity, equity, and inclusion and credits much of this change to NREL’s women in leadership, such as Bobi Garrett, NREL’s former chief operating officer, and Julie Baker, deputy laboratory director for Laboratory Operations.

    Suzy DiMont and her child Sebastian. Photo from Suzy DiMont, NREL

    “It’s incredible to be around these powerful women,” DiMont said. “It’s very inspiring.”

    As a mother, DiMont wants to make the world a better place for her child. Living in a world impacted by climate change causes many to feel anxious and depressed about the future. For DiMont, knowing that humans caused climate change means humans are also part of the solution. She hopes to impart this optimism onto the next generation.

    “I want my child to live in a world where he sees engineers and expects them to be women,” DiMont said. “I want him to feel like he has agency and can be part of these solutions.”

    It is a lot of work and the job is not easy, but for DiMont, making the world better for the next generation is what it is all about.

    “When do I rest?” DiMont asked. “I’ve got this time to do what I can do with it. I put in my energy when I can, then I unplug. I unplug and put my energy in other places. It’s just about being present for the things you are doing in that moment.”  

    Learn more about NREL’s commitments to sustainability and resilience.

    MIL OSI USA News –

  • MIL-OSI: Capgemini Q3 2024 revenues

    Source: GlobeNewswire (MIL-OSI)

    Media relations:
    Victoire Grux
    Tel.: +33 6 04 52 16 55
    victoire.grux@capgemini.com

    Investor relations:
    Vincent Biraud
    Tel.: +33 1 47 54 50 87
    vincent.biraud@capgemini.com

    Capgemini Q3 2024 revenues

    • Q3 2024 revenues of €5,377 million, down -1.6% at constant exchange rates*
    • 9M 2024 revenues of €16,515 million, down -2.3% at constant exchange rates
    • FY 2024 constant currency revenue growth target revised to -2.0% to -2.4% and operating margin target narrowed to 13.3% to 13.4%
    • FY 2024 organic free cash-flow target confirmed at around €1.9 billion

    Paris, October 30, 2024 – The Capgemini Group reported consolidated revenues of €5,377 million in Q3 2024, down -1.9% year-on-year on a reported basis, and down -1.6% at constant exchange rates*.

    Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said: “Our growth improved marginally in Q3 compared to Q2, despite stronger headwinds than anticipated in some sectors, primarily in Manufacturing. However, we continue to see recovery in Financial Services and gradually lesser headwinds from Telco and Tech.

    In a market that remains soft overall, we expect to deliver a similar growth in Q4 while demonstrating the resilience of our operating margin and organic free cash-flow. Client demand continues to be driven by operational efficiencies and cost reduction and we seize their growing appetite for AI and Gen AI services.

    Our positioning as a business and technology transformation partner, the relevance of our offerings and the quality of our talent are driving our solid book-to-bill ratio and growing pipeline of strategic deals. We are also launching a set of targeted actions to simplify our operations to make the Group more agile with a stronger emphasis on growth.

    Based on Q4 perspectives, we now expect a full-year constant currency growth rate of -2.0% to -2.4% and narrow the operating margin target to 13.3% to 13.4%, while the organic free cash-flow target of around €1.9 billion is confirmed.”

      (in millions of euros)   Change
    Revenues 2023 2024   At current
    exchange rates    		 At constant
    exchange rates*
    Q3 5,480 5,377   -1.9% -1.6%
    9 months 16,906 16,515   -2.3% -2.3%

    After bottoming out in Q1 2024, Capgemini activity trends improved again in Q3, but only marginally. The Group generated revenues of €5,377 million in Q3 2024, down -1.9% year-on-year on a reported basis and -1.6% at constant exchange rates*. On an organic basis (i.e., restated for changes in Group scope and exchange rates), revenues contracted by -2.1%. For the first nine months of the year, growth stands at -2.3%, both on a reported basis and at constant exchange rates.

    Clients remained focused on driving efficiencies through large digital transformation programs, at the expense of discretionary deals. This is fueling strong demand for Capgemini’s Cloud and Data & AI/Gen AI services, as well as for digital core modernization and intelligent supply chain services that are key focus themes in the current environment.

    Bookings totaled €5,222 million in Q3 2024, down -0.8% at constant exchange rates, leading to a book-to-bill ratio of 0.97 for the period. Generative AI bookings amounted to around €600 million over the last 9 months which represent around 3.5% of Group bookings.

    OPERATIONS BY REGION

    In the Group’s largest regions, Q3 growth rates remained similar to Q2. Overall, this reflects the continued recovery in Financial Services across all regions combined with, as anticipated, a slowdown in the Manufacturing sector.

    At constant exchange rates, revenues in the North America region (28% of Group revenues in Q3 2024) decreased by -3.9% year-on-year. Financial Services further improved, yet still posting a year-on-year decline in Q3. Overall, the revenue contraction was driven by the Consumer Goods & Retail, Energy & Utilities, and Public sectors.

    Revenues in the United Kingdom and Ireland region (13% of Group revenues) returned to positive growth at +0.4%. The continued dynamism of the Energy & Utilities sector and a resilient Manufacturing sector outweighed the contraction in the Consumer Goods & Retail sector.

    Revenues in France (19% of Group revenues) decreased by -2.5%. Growth in the Public sector, along with positive momentum in TMT (Telecoms, Media & Technology), were more than offset by the slowdown of the Manufacturing sector.

    Revenues in the Rest of Europe region (31% of Group revenues) increased by +0.6%. Solid growth in Financial Services, as well as continued dynamism in Energy & Utilities and Public sector, made up for the contraction in the Manufacturing and TMT sectors.

    Lastly, revenues in the Asia-Pacific and Latin America region (9% of Group revenues) were down -2.2%. In the Asia-Pacific region, strong momentum in the Public sector and improving Financial Services were more than offset by visible weakness in the Consumer Goods & Retail and Manufacturing sectors. Growth acceleration in Latin America was mostly driven by the Consumer Goods & Retail sector.

    OPERATIONS BY BUSINESS        

    In Q3 2024, at constant exchange rates, the growth in Strategy & Transformation services (9% of the Group’s total revenues* in Q3 2024) further strengthened to +6.5% year-on-year. This reflects continued client demand for strategic consulting on their transition towards a more digital and sustainable model as well as their unwavering interest in the broad AI and Gen AI opportunities.

    In Applications & Technology services (63% of the Group’s total revenues and Capgemini’s core business), growth rates improved by 170 basis points compared to Q2, to -1.2% year-on-year in Q3.

    Lastly, Operations & Engineering total revenues (28% of the Group’s total revenues) decreased by -3.4% primarily driven by the contraction in Infrastructure Services and, to a lesser extent, Engineering services.

    HEADCOUNT

    The Group’s total headcount stands at 338,900 as at September 30, 2024, down -1.1% year-on-year and up +0.6% since the end of June. The offshore workforce stands at 194,400 employees or 57% of the total headcount.

    OUTLOOK

    The Group’s financial targets for 2024 are updated as follows:

    • Revenue growth of -2.0% to -2.4% at constant currency (was -0.5% to -1.5%);
    • Operating margin of 13.3% to 13.4% (was 13.3% to 13.6%);
    • Organic free cash-flow of around €1.9 billion (unchanged).

    The inorganic contribution to growth should be 40 basis points.

    CONFERENCE CALL

    Aiman Ezzat, Chief Executive Officer, accompanied by Nive Bhagat, Chief Financial Officer, and Olivier Sevillia, Chief Operating Officer, will present this press release during a conference call in English to be held today at 8.00 a.m. Paris time (CET). You can follow this conference call live via webcast at the following link. A replay will also be available for a period of one year.

    All documents relating to this publication will be posted on the Capgemini investor website at https://investors.capgemini.com/en/.

    PROVISIONAL CALENDAR

    February 18, 2025        FY 2024 results
    April 29, 2025        Q1 2025 revenues
    May 7, 2025        Shareholders’ Meeting
    July 30, 2025        H1 2025 results

    DISCLAIMER

    This press release may contain forward-looking statements. Such statements may include projections, estimates, assumptions, statements regarding plans, objectives, intentions and/or expectations with respect to future financial results, events, operations and services and product development, as well as statements, regarding future performance or events. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “projects”, “may”, “would”, “should” or the negatives of these terms and similar expressions. Although Capgemini’s management currently believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to various risks and uncertainties (including, without limitation, risks identified in Capgemini’s Universal Registration Document available on Capgemini’s website), because they relate to future events and depend on future circumstances that may or may not occur and may be different from those anticipated, many of which are difficult to predict and generally beyond the control of Capgemini. Actual results and developments may differ materially from those expressed in, implied by or projected by forward-looking statements. Forward-looking statements are not intended to and do not give any assurances or comfort as to future events or results. Other than as required by applicable law, Capgemini does not undertake any obligation to update or revise any forward-looking statement.

    This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.

    ABOUT CAPGEMINI

    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.

    Get the Future You Want | www.capgemini.com

    * *

    *

    APPENDIX3F1

    BUSINESS CLASSIFICATION

    • Strategy & Transformation includes all strategy, innovation and transformation consulting services.
    • Applications & Technology brings together “Application Services” and related activities and notably local technology services.
    • Operations & Engineering encompasses all other Group businesses. These comprise Business Services (including Business Process Outsourcing and transaction services), all Infrastructure and Cloud services, and R&D and Engineering services.

    DEFINITIONS

    Organic growth or like-for-like growth in revenues is the growth rate calculated at constant Group scope and exchange rates. The Group scope and exchange rates used are those for the reported period. Exchange rates for the reported period are also used to calculate growth at constant exchange rates.

    Reconciliation of growth rates Q1 2024 Q2 2024 Q3 2024 9M 2024
    Organic growth -3.6% -2.3% -2.1% -2.7%
    Changes in Group scope +0.3 pts +0.4 pts +0.5 pts +0.4 pts
    Growth at constant exchange rates -3.3% -1.9% -1.6% -2.3%
    Exchange rate fluctuations -0.2 pts +0.4 pts -0.3 pts -0.0 pts
    Reported growth -3.5% -1.5% -1.9% -2.3%

    When determining activity trends by business and in accordance with internal operating performance measures, growth at constant exchange rates is calculated based on total revenues, i.e., before elimination of inter-business billing. The Group considers this to be more representative of activity levels by business. As its businesses change, an increasing number of contracts require a range of business expertise for delivery, leading to a rise in inter-business flows.

    Operating margin is one of the Group’s key performance indicators. It is defined as the difference between revenues and operating costs. It is calculated before “Other operating income and expense” which include amortization of intangible assets recognized in business combinations, expenses relative to share-based compensation (including social security contributions and employer contributions) and employee share ownership plan, and non-recurring revenues and expenses, notably impairment of goodwill, negative goodwill, capital gains or losses on disposals of consolidated companies or businesses, restructuring costs incurred under a detailed formal plan approved by the Group’s management, the cost of acquiring and integrating companies acquired by the Group, including earn-outs comprising conditions of presence, and the effects of curtailments, settlements and transfers of defined benefit pension plans.

    Normalized net profit is equal to profit for the year (Group share) adjusted for the impact of items recognized in “Other operating income and expense”, net of tax calculated using the effective tax rate. Normalized earnings per share is computed like basic earnings per share, i.e., excluding dilution.

    Organic free cash flow is equal to cash flow from operations less acquisitions of property, plant, equipment and intangible assets (net of disposals) and repayments of lease liabilities, adjusted for cash out relating to the net interest cost.

    Net debt (or net cash) comprises (i) cash and cash equivalents, as presented in the Consolidated Statement of Cash Flows (consisting of short-term investments and cash at bank) less bank overdrafts, and also including (ii) cash management assets (assets presented separately in the Consolidated Statement of Financial Position due to their characteristics), less (iii) short- and long-term borrowings. Account is also taken of (iv) the impact of hedging instruments when these relate to borrowings, intercompany loans, and own shares.

    REVENUES BY REGION

      Revenues
    (in millions of euros)    		   Year-on-year growth
      Q3 2023 Q3 2024   Reported At constant exchange rates
    North America 1,608 1,530   -4.9% -3.9%
    United Kingdom and Ireland 676 690   +2.1% +0.4%
    France 1,045 1,019   -2.5% -2.5%
    Rest of Europe 1,633 1,646   +0.8% +0.6%
    Asia-Pacific and Latin America 518 492   -5.0% -2.2%
    TOTAL 5,480 5,377   -1.9% -1.6%
      Revenues
    (in millions of euros)    		   Year-on-year growth
      9 months
    2023    		 9 months
    2024    		   Reported At constant exchange rates
    North America 4,896 4,638   -5.3% -4.9%
    United Kingdom and Ireland 2,062 2,070   +0.4% -1.8%
    France 3,353 3,264   -2.6% -2.6%
    Rest of Europe 5,105 5,116   +0.2% +0.1%
    Asia-Pacific and Latin America 1,490 1,427   -4.2% -1.9%
    TOTAL 16,906 16,515   -2.3% -2.3%

    REVENUES BY BUSINESS

      Total revenues*
    (% of Group revenues)    		 Year-on-year growth at constant exchange rates in total revenues of the business
      Q3 2024
    Strategy & Transformation 9% +6.5%
    Applications & Technology 63% -1.2%
    Operations & Engineering 28% -3.4%
      Total revenues*
    (% of Group revenues)    		 Year-on-year growth at constant exchange rates in total revenues of the business
      9 months
    2024
    Strategy & Transformation 9% +3.9%
    Applications & Technology 62% -2.7%
    Operations & Engineering 29% -2.3%

    1 Note that in the appendix, certain totals may not equal the sum of amounts due to rounding adjustments.

    Attachments

    The MIL Network –

  • MIL-OSI: Amundi: Third quarter and nine-month 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Amundi: Third quarter and nine-month 2024 results

    Net income1,2up +16% Q3/Q3 and record assets under management at €2.2 trillion

    Strong growth in earnings and revenues   Q3 – adjusted net income1,2 at €337m, fast-growing: +16.1% Q3/Q3

    • Thanks to revenue growth (+10.5%) and positive jaws effect
    • Q3/Q3 cost/income ratio improvement at 52.9%3

    9 months – adjusted net income1,2 at €1,005m, up +10.4% 9M/9M

    Earnings per share2: €1.65 for Q3, €4.91 for 9M
         
    Record AuM
    & dynamic MLT inflows5    		   Record assets under management3: €2,192bn at 30 September 2024, up +11% year-on-year

    Q3 net inflows3 of +€2.9bn, or +€14.5bn excluding the exit from a large, low-income institutional mandate4

    • +€9.1bn in MLT assets4,5,6
    • Solid commercial momentum of Asian JVs: +€5.3bn
         
    Continued strategic progress   ETFs6: +€8bn in Q3 net inflows, now more than €250bn in assets under management
    Third-party distribution: +€7bn Q3 net inflows, with contribution from all regions and asset classes

    Asia: +€7bn in Q3 net inflows, from JVs and direct distribution in Japan, Singapore, Hong Kong, Taiwan and China

    Technology: revenues +42% Q3/Q3

    Victory Capital: approval7 of the partnership with Amundi secured at EGM, transaction expected to close in Q1 2025

    Paris, 30 October 2024

    Amundi’s Board of Directors met on 29 October 2024 under the chairmanship of Philippe Brassac, and reviewed the financial statements for the third quarter and the first 9 months of 2024.

    Valérie Baudson, Chief Executive Officer, said:
    « Amundi’s results in the third quarter of 2024 demonstrate our ongoing strategic progress and continued growth potential. Our Q3 net profit1,2of €337m, increased by +16% compared to the same period in 2023 and exceeded one billion euros over 9 months. Assets under management reached a record level of €2.2 trillion.

    We have been able to support our clients whatever their profile and needs, which has resulted in a high level of net inflows in our strategic development areas, namely Asia, Third-Party Distributors, and ETFs.

    By putting clients at the heart of our strategy and by continuing to develop the areas of expertise that primarily seek to meet their needs, we are ideally positioned to seize growth opportunities in the savings industry. »

    * * * * *

    Further progress in achieving our 2025 Ambitions plan

    Q3 2024 saw key areas of focus under the “2025 Strategic Ambitions” plan contribute to activity and earnings growth.

    • ETFs exceeded €250bn in assets under management at the end of September, up +31% year-on-year, thanks in particular to very dynamic net inflows reaching +€17bn over 9 months, including +€8bn in Q3. This places Amundi in second place in the European market in terms of net inflows this quarter8. these inflows are well diversified across equity and fixed income products, with a high share of products classified as responsible investment9 in net inflows (+€3bn, or 34% market share in flows in this market segment). Amundi has had many commercial successes this quarter: for example, the Amundi ETF Stoxx Europe 600 is the best-selling (+€0.85bn) European equity ETFs in Q3, the Amundi ETF Euro Government Tilted Green Bond, launched last year, saw its assets under management exceed €3bn after gathering +€1.1bn since the beginning of the year, and the Amundi ETF Prime ACWI exceeded €1bn in assets under management 8 months after its launch.
    • Third-Party Distribution reached €377bn in assets under management at the end of September, up +24% year-on-year, with net inflows +€19bn for 9 months 2024, and +€7bn in Q3, thanks to contributions from all regions and asset classes, from ETFs, treasury products and active management;
    • Asia assets under management increased by +17% year-on-year to €458bn; net inflows for 9 months 2024 stood at +€30bn with a significant contribution from Amundi’s Indian JV SBI MF, which now has €278bn in assets, up +19% year-on-year (+€18bn in net inflows); €103bn of total Asian assets under management come from direct distribution excluding JVs (+20% year-on-year), with net inflows for 9 months 2024 standing at +€3bn in Japan, +€2.4bn Singapore, +€1.4bn Hong Kong and also +€1.7bn in China outside the two JVs, mainly with institutional clients;
    • The Technology & Services offering is also experiencing strong growth, with technology revenues of €54m over 9 months, up +28% compared to the same period in 2023, and even +42% Q3/Q3; the Fund Channel fund distribution platform exceeded €490bn in assets at the end of September 2024; during the quarter it signed a distribution agreement with ING Germany and integrated the fintech AirFund into its ecosystem to digitise access to private markets; Fund Channel was also ranked “Best Distribution Platform” for the third consecutive year by the consulting and research firm Platforum;
    • In fixed income expertise, Amundi now manages €1,160bn in assets10 across a wide range of solutions, from treasury products to target maturity funds, offering attractive returns and capital protection; fixed income net inflows stood at +€46bn10 over 9 months and +€14bn10 in Q3 thanks to sustained activity in active bond strategies (+€11bn excluding JV) and ETFs (+€2.5bn);
    • The partnership project with Victory Capital reached an important milestone with shareholder approval of resolutions7 necessary to finalise the transactions, expected in Q1 2025. As a reminder, this partnership aims at creating a larger US investment platform, via the contribution of Amundi US to Victory Capital in return for Amundi taking a 26%-stake of the combined entity as well as 15-year distribution agreements, to serve the clients of both companies; Amundi would thus have a greater number of US and global management expertise to offer its clients. The transaction, which involves no disbursement of cash, is expected to bring a low single-digit accretion for Amundi shareholders, with an increase in the contribution of our US operations to the adjusted net income and EPS.

    Activity

    Market environment

    In the third quarter of 2024, equity markets11 increased by +1.1% in average compared to the previous quarter and by +15.6% compared to Q3 2023. The European bond markets12 also rose, reflecting the shift in monetary policy and the ECB’s decision to cut rates. Year-on-year, our benchmark index12 increased by +6.3% in Q3 2024 compared to Q3 2023 and by +2.1% compared to Q2 2024. The market effect is therefore positive on the evolution of Amundi’s revenues and net income.

    When compared to the 2021 averages used as a reference for the 2025 Ambitions plan, the market effect is only slightly positive.

    The European asset management market continues its gradual recovery. Open-ended fund volumes13, at +€213bn in the third quarter, continued to be driven by treasury products (+€93bn) and passive management (+€75bn). Nevertheless, the third quarter recorded positive flows in medium- to long-term active management for the second quarter in a row (+€45bn), driven by fixed income strategies (+€69bn).

    High level of activity over the quarter in MLT assets5, assets under management at a record level of €2.2tn

    Activity this quarter continues to be marked, like the rest of the European market, by risk aversion among retail clients. However, Amundi performed well, driven in particular by ETFs, bond solutions, third-party distributors and Asia. Excluding the exceptional exit from a low-income insurance mandate4, net inflows were positive in all major medium- to long-term areas of expertise (passive, active, structured products and real assets), in all client segments (Retail, Institutional and JV), and in all major markets (France, Italy, Germany, Asia and the United States).

    Amundi’s assets under management at 30 September 2024 increased by +11.1% year-on-year (compared to the end of September 2023) and by +1.6% quarter-on-quarter (compared to the end of June 2024), to €2,192bn, an all-time high.

    In the third quarter of 2024, the market and currency effect amounted to +€32.5bn (+€175.9bn over a year) and Amundi generated positive net inflows of +€2.9bn. As announced at the time of the second quarter results publication, this amount includes the exit of a low-income multi-asset mandate4 with a European insurer, of €11.6bn.

    Adjusted for this exit4, net inflows for the quarter were +€14.4bn of which +€9.1bn in MLT Assets5. It was positive in active management (+€4.3bn) and ETFs (+€7.8bn), partially offset by outflows from index strategies. Structured products and real and alternative assets also recorded positive net inflows (+€0.8bn), while treasury products were flat (+€0.1bn).

    Finally, the JVs14continued their solid commercial momentum, with net inflows of +€5.3bn, reflecting a positive contribution from India (SBI MF, +€6.0bn) and South Korea (NH-Amundi, +€0.4bn), partially offset this quarter by slight net outflows in China (ABC-CA) despite continued open-ended net inflows.

    By Client Segment, Retail recorded net inflows of +€6.3bn, of which +€1.3bn in MLT assets5, with contrasting developments according to the sub-segments:

    • Third-Party Distributors had another very good quarter in terms of total net inflows (+€6.8bn); all regions contributed to these inflows, which were highly diversified across asset classes, with positive contributions from ETFs, treasury products but also active management (+€1.5bn);
    • Risk aversion has a larger impact on the activity of partner network clients in France (+€1.1bn) and outside France excluding Amundi BOC WM (-€0.9bn), despite the good performance of structured and treasury products as well as bond strategies; Sabadell’s network in Spain continues its sales momentum (+€0.4bn);
    • In China, Amundi BOC WM posted net outflows this quarter (-€0.7bn), as the maturities of fixed-term funds were not offset by open-ended fund subscriptions.

    Excluding the loss of the low-income insurance mandate already mentioned4, the Institutional segment recorded very positive inflows in MLT Assets5(+€7.8bn), in all sub-segments: Institutional & Sovereigns with +€4.4bn, CA & SG insurance mandates with +€2.4bn thanks to the continued recovery of the traditional life insurance Euro contracts this quarter, Corporates and Employee Savings (+€1.0bn) thanks to net inflows in short-term bond products from corporates. Net outflows in Treasury Products (-€4.9bn) are to a large extent seasonal.

    Results

    Sustained growth in net income, +16% Q3/Q3 to €337m, and more than €1bn in the 9 months of 2024

    Adjusted data2

    In the third quarter of 2024, adjusted net income2reached €337m, up +16.1% compared to the third quarter of 2023. Since the second quarter, it includes Alpha Associates, whose acquisition was finalised in early April.

    The growth in net income was mainly due to organic revenue growth, amplified by operating efficiency, which led to a positive jaws effect, and by the very strong momentum of Asian JVs. These results were achieved against the backdrop of continued client risk aversion, and inflation.

    Adjusted net revenues2 reached €862m, up +10.5% compared to the third quarter of 2023.

    • The sustained growth in net management fees, up +9.2% compared to the third quarter of 2023, to €805m, reflects the good level of activity and the increase in average assets under management excluding JVs (+8.6% over the same period);
    • Performance fees (€20m) doubled compared to the third quarter of 2023 (€10m), a low basis of comparison; however, they were down compared to the second quarter of 2024 (€50m) due to the lower level of crystallisation15 in the third quarter than in the second and fourth quarters, as it does every year; however, the performance of Amundi’s management is at a good level, with more than 71% of assets under management ranked in the first or second quartiles according to Morningstar16 over 1, 3 or 5 years and 257 Amundi funds rated 4 or 5 stars by Morningstar as of 30 September;
    • Amundi Technology’s revenues, at €20m, continued to grow steadily (+41.8% compared to the third quarter of 2023; +13.0% compared to the second quarter of 2024), confirming the development of this business;
    • Finally, the Financial and other income2 amounted to €17m, down slightly compared to the third quarter of 2023 and previous quarters.

    The increase in operating expenses2, by +7.4% compared to the third quarter of 2023, to €456m, remains lower than the increase in revenues (+10.5%) over the same period, thus generating a positive jaws effect which reflects the Group’s operational efficiency.

    The increase is mainly due to:

    • the first consolidation of Alpha Associates;
    • the provision for individual variable remuneration in line with the increase in results;
    • and finally the acceleration of investments in development initiatives according to the axes of the 2025 Ambitions Plan, particularly in technology.

    The Cost income ratio improved to 52.9% in adjusted data2 compared to the same quarter last year, and remains in line with the 2025 target and at the best level in the industry.

    The Adjusted gross operating income2(EBIT) amounted to €406m, up +14.2% compared to the third quarter of 2023, reflecting double-digit revenue growth amplified by operational efficiency.

    Income from equity-accounted companies, which reflects Amundi’s share of the net income of minority JVs in India (SBI MF), China (ABC-CA), South Korea (NH-Amundi) and Morocco (Wafa Gestion), was up +36.5% compared to the third quarter of 2023, to €33m, representing 10% of adjusted net income, reflecting the good level of activity in India and Korea.

    Adjusted earnings per share2in the third quarter of 2024 reached €1.65, up +16.0%.

    Accounting data in the third quarter of 2024

    Accounting Net income Group share amounted to €320m and includes non-cash charges related to acquisitions, in particular the amortisation of intangible assets related to distribution and client contracts (-€24m before tax in the quarter including the corresponding new charges related to Alpha Associates, see details in p. 11), representing a total of -€17m after tax.

    Accounting earnings per share in the third quarter of 2024 reached €1.56.

    In the first 9 months of 2024, adjusted net income2amounted to €1,005m, up +10.4%, reflecting the same trends as in the third quarter:

    • Adjusted net revenues2 grew by +7.3% compared to the first 9 months of 2023, to €2,573m, reflecting as in the quarter the sustained growth in management fees (+6.6%) and the strong increase in Amundi Technology’s revenues (€54m, +28.2%) and financial and other income2 (€67m, +38.2%); performance fees, on the other hand, were down by -2.0% to €88m;
    • Adjusted operating expenses2 are well controlled with an increase of +5.9% compared to the first 9 months of 2023, at €1,356m, resulting in a positive jaws effect;
    • Adjusted cost income ratio2 stands at 52.7%.

    Adjusted gross operating income2 was €1,217m, up +8,9% compared to the first 9 months of 2023, showing a higher growth rate than revenue growth thanks to operating efficiency.

    Income from equity-accounted companies increased by +28.6% compared to the first 9 months of 2023, to €94m.

    Adjusted earnings per share2for the first 9 months of 2024 reached €4.91, up +10.1% compared to the first 9 months of 2023.

    Accounting data for the first 9 months of 2024

    Accounting Net income Group share amounted to €956m and includes non-cash charges related to acquisitions, in particular the amortisation of intangible assets related to distribution and client contracts (-€68m before tax in the 9 months including the corresponding new charges related to Alpha Associates, see details on p. 11), representing a total of -€49m after tax in the first 9 months of 2024.

    Accounting earnings per share for the first 9 months of 2024 reached €4.67.

    To be noted for the fourth quarter and full-year 2024

    Success of the capital increase reserved for employees – The capital increase reserved for employees “We Share Amundi”, announced on 23 September 2024, is expected to be completed tomorrow, 31 October 2024. This operation offered for the seventh consecutive year a subscription of shares at a discount.

    It was once again a great success this year: more than 2,000 employees in 15 countries subscribed to this capital increase, for a total amount of €36.3m. This represents nearly two out of three employees in France and more than two out of five worldwide.        
    This transaction, which is in line with the existing legal authorisations voted by the Shareholders’ Meeting on 12 May 2023, reflects Amundi’s desire to involve its employees not only in the development of the Company but also in the creation of economic value.

    The impact of this transaction on earnings per share will be very limited: the number of shares to be created will be 771,628 (i.e. ~0.4% of the share capital before the transaction).        
    This issue will bring the number of shares making up Amundi’s share capital to 205,419,262 as of 31 October 2024, i.e. a share capital increased to €513,548,155.        
    Employees will now hold around 1.7% of Amundi’s capital, compared to 1.3% before the transaction. In the fourth quarter of 2024, the Amundi Group will record in its consolidated financial statements a charge relating to the subscription discount of €12.3m before tax.

    On the basis of the Finance Bill presented by the French government, an exceptional tax contribution on the profits of large companies would apply to Amundi, whose turnover in France for tax purposes is more than €3bn.

    * * * * *

    APPENDICES

    Adjusted income statement2of the first 9 months of 2024 and 2023

    (€m)   9M 2024 9M 2023 % chg.
    9M/9M
             
    Net revenue – Adjusted   2,573 2,397 +7.3%
    Management fees   2,364 2,217 +6.6%
    Performance fees   88 89 -2.0%
    Technology   54 42 +28.2%
    Net financial & other net income   67 49 +38.2%
    Operating expenses – Adjusted   (1,356) (1,280) +5.9%
    Cost income ratio – Adjusted (%)   52.7% 53.4% -0.7pp
    Gross operating income – Adjusted   1,217, 1,117, +8.9%
    Cost of risk & other   (7) (5) +24.5%
    Equity-accounted companies   94 73 +28.6%
    Income before tax – Adjusted   1,305 1,185 +10.1%
    Corporate tax   (302) (277) +8.8%
    Non-controlling interests   2 3 -25.2%
    Net income, Group share – Adjusted   1,005 910 +10.4%
    Depreciation of intangible assets after tax   (49) (44) +11.6%
    Integration costs net of tax   0 0 NS
    Net income, Group share   956 866 +10.3%
    Earnings per share (€)   4.67 4.25 +10.0%
    Earnings per share – Adjusted (€)   4.91 4.46 +10.1%

    Adjusted income statement2of the third quarter of 2024

    (€m)   Q3 2024 Q3 2023 % chg.
    Q3/Q3    		   Q2 2024 % chg.
    Q3/Q2
                   
    Net revenue – Adjusted   862 780 +10.5%   887 -2.9%
    Management fees   805 737 +9.2%   794 +1.3%
    Performance fees   20 10 +97.3%   50 -58.9%
    Technology   20 14 +41.8%   17 +13.0%
    Net financial & other net income   17 19 -10.6%   26 -34.0%
    Operating expenses – Adjusted   (456) (424) +7.4%   (461) -1.1%
    Cost income ratio – Adjusted (%)   52.9% 54.4% -1.5pp   51.9% +1.0pp
    Gross operating income – Adjusted   406 356 +14.2%   426 -4.8%
    Cost of risk & other   (2) (3) -36.0%   (5) -63.4%
    Equity-accounted companies   33 24 +36.5%   33 -0.1%
    Income before tax – Adjusted   437 377 +15.9%   454 -3.9%
    Corporate tax   (101) (88) +14.9%   (105) -3.8%
    Non-controlling interests   1 1 -23.5%   0 NS
    Net income, Group share – Adjusted   337 290 +16.1%   350 -3.7%
    Depreciation of intangible assets after tax   (17) (15) +17.9%   (17) +1.2%
    Integration costs net of tax   0 0 NS   0 NS
    Net income, Group share   320 276 +16.0%   333 -4.0%
    Earnings per share (€)   1.56 1.35 +15.9%   1.63 -4.0%
    Earnings per share – Adjusted (€)   1.65 1.42 +16.0%   1.71 -3.7%

    Evolution of assets under management from the end of 2020 to the end of September 202417

    (€bn) Assets under management Net

    inflows

    		 Market &

    Forex Effect

    		 Scope effect   Change in AuM
    vs. previous quarter
    As of 31/12/2020 1,729       / +4.0%
    Q1 2021   -12.7 +39.3   /  
    As of 31/03/2021 1,755       / +1.5%
    Q2 2021   +7.2 +31.4   /  
    As of 30/06/2021 1,794       / +2.2%
    Q3 2021   +0.2 +17.0   /  
    As of 30/09/2021 1,811       / +1.0%
    Q4 2021   +65.6 +39.1   +14818  
    As of 31/12/2021 2,064       / +14%
    Q1 2022   +3.2 -46.4   /  
    As of 31/03/2022 2,021       / -2.1%
    Q2 2022   +1.8 -97.75   /  
    As of 30/06/2022 1,925       / -4.8%
    Q3 2022   -12.9 -16.3   /  
    As of 30/09/2022 1,895       / -1.6%
    Q4 2022   +15.0 -6.2   /  
    As of 31/12/2022 1,904       / +0.5%
    Q1 2023   -11.1 +40.9   /  
    As of 31/03/2023 1,934       / +1.6%
    Q2 2023   +3.7 +23.8   /  
    As of 31/06/2023 1,961       / +1.4%
    Q3 2023   +13.7 -1.7   /  
    As of 30/09/2023 1,973       / +0.6%
    Q4 2023   +19.5 +63.8   -20  
    As of 31/12/2023 2,037       / +3.2%
    Q1 2024   +16.6 +63.0   /  
    As of 31/03/2024 2,116       / +3.9%
    Q2 2024   +15.5 +16.6   +8  
    30/06/2024 2,156         +1.9%
    Q3 2024   +2.9 +32.5   /  
    30/09/2024 2,192         +1.6%

    Total over one year between September 30, 2023 and September 30, 2024: +11.1%

    • Net inflows          +€54.5bn
    • Market & exchange rate effects        +€175.9bn
    • Scope effects        -€12.2bn
      (disposal of Lyxor Inc. in Q4 2023, first consolidation of Alpha Associates in Q2 2024)

    Details of assets under management and net inflows by client segments19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    French networks 138 126 +9.1% +1.1 +0.9 +0.3 +4.6
    International networks 167 156 +7.1% -1.6 -1.0 -4.4 -3.2
    o/w Amundi BOC WM 3 4 -26.9% -0.7 -0.5 -0.5 -3.3
    Third-party distributors 377 305 +23.5% +6.8 +2.1 +19.2 +4.1
    Retail 681 587 +16.1% +6.3 +2.0 +15.1 +5.6
    Institutional & Sovereigns (*) 518 489 +6.0% -9.3 +17.9 +1.4 +14.4
    Corporates 113 97 +16.0% +2.3 -3.8 -5.8 -7.4
    Employee savings plans 92 84 +9.8% -0.5 -0.9 +2.5 +2.6
    CA & SG insurers 428 406 +5.3% -1.2 -3.9 +0.5 -9.6
    Institutional 1,151 1,076 +6.9% -8.7 +9.3 -1.4 +0.0
    JVs 360 310 +16.0% +5.3 +2.4 +21.3 +0.7
    Total 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3

    Details of assets under management and net inflows by asset classes19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    Equity 527 443 +18.9% -0.7 +7.0 +0.0 +2.0
    Multi-assets 274 274 -0.0% -15.4 -5.9 -22.3 -17.0
    Bonds 732 624 +17.3% +12.8 +7.7 +36.8 +10.1
    Real, alternative & structured assets 114 124 -8.3% +0.8 -1.1 +1.5 +2.4
    MLT ASSETS excl. JVs 1,647 1,465 +12.4% -2.5 +7.8 +16.1 -2.4
    Treasury products excl. JVs 185 198 -6.5% +0.1 +3.5 -2.4 +8.0
    Assets excl. JVs 1,832 1,663 +10.1% -2.4 +11.3 +13.6 +5.6
    JVs 360 310 +16.0% +5.3 +2.4 +21.3 +0.7
    TOTAL 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3
    o/w MLT assets 1,973 1,745 +13.1% +3.4 +11.3 +34.9 -0.7
    o/w Treasury products 219 229 -4.2% -0.5 +2.5 +0.1 +7.1

    Details of assets under management and net inflows by management type and asset classes19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    Active management 1,136 1,022 +11.1% -7.1 -1.9 +2.2 -15.6
    Equity 208 187 +11.4% -2.3 -1.6 -5.4 -2.5
    Multi-assets 263 265 -0.9% -15.7 -6.3 -23.4 -18.2
    Bonds 665 570 +16.6% +10.8 +6.1 +31.0 +5.1
    Structured products 43 35 +22.3% +0.8 -0.2 +2.7 +2.9
    Passive management 397 319 +24.5% +3.8 +10.8 +12.4 +10.8
    ETFs & ETC 251 192 +31.1% +7.8 +3.6 +17.3 +8.0
    Index & Smart Beta 146 127 +14.5% -4.0 +7.2 -5.0 +2.8
    Real & alternative assets 71 89 -20.5% +0.0 -0.9 -1.2 -0.5
    Real assets 67 63 +4.8% +0.2 -0.3 -0.1 +0.2
    Alternative assets 4 25 -83.8% -0.2 -0.6 -1.1 -0.7
    MLT ASSETS excl. JVs 1,647 1,465 +12.4% -2.5 +7.8 +16.1 -2.4
    Treasury products excl. JVs 185 198 -6.5% +0.1 +3.5 -2.4 +8.0
    TOTAL ASSETS excl. JVs 1,832 1,663 +10.1% -2.4 +11.3 +13.6 +5.6
    JVs 360 310 +16.0% +5.3 +2.4 +21.3 +0.7
    TOTAL 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3

    Details of assets under management and net inflows by geographical areas19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    France 987 903 +9.3% +2.8 +4.1 +12.8 -1.2
    Italy 202 197 +2.7% -10.8 -1.5 -13.8 -2.2
    Europe excl. France & Italy 421 353 +19.2% +1.9 -0.8 +6.0 +6.0
    Asia 458 392 +17.0% +7.4 +3.4 +29.6 -0.3
    Rest of the world 124 129 -4.3% +1.7 +8.4 +0.4 +4.0
    TOTAL 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3
    TOTAL outside France 1,204 1,070 +12.5% +0.1 +9.6 +22.2 +7.5

    Methodology Appendix

    Accounting & adjusted data

    Accounting data – These include the amortization of intangible assets, recorded as other income, and since Q2 2024, other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; these expenses are recognized as deductions from net income, in finance costs.

    The aggregate amounts of these items are as follows for the different periods under review:

    • Q1 2023: -€20m before tax and -€15m after tax
    • Q2 2023: -€20m before tax and -€15m after tax
    • Q3 2023: -€20m before tax and -€15m after tax
    • 9M 2023: -€61m before tax and -€44m after tax
    • 2023: -€82m before tax and -€59m after tax
    • Q1 2024: -€20m before tax and -€15m after tax
    • Q2 2024: -€24m before tax and -€17m after tax
    • Q3 2024: -€24m pre-tax and -€17m after tax
    • 9M 2024: -€68m before tax and -€49m after tax

    There were no significant integration costs recorded in the third quarter as a result of the acquisition of Alpha Associates

    Adjusted data – in order to present an income statement closer to economic reality, the following adjustments are made: restatement of the amortization of distribution contracts with Bawag, UniCredit and Banco Sabadell, intangible assets representing the client contracts of Lyxor and, since the second quarter of 2024, Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates; such depreciation and amortization and non-cash expenses are recorded as a deduction from net revenues.

    Acquisition of Alpha Associates

    In accordance with IFRS 3, recognition of Amundi’s balance sheet as at 01/04/2024:

    • goodwill of €290m;
    • an intangible asset of €50m representing client contracts, depreciable on a straight-line basis until the end of 2030;
    • a liability representing the conditional earn-out not yet paid, for €160m, including an actuarial discount of -€30m, which will be amortized over 6 years.

    In the Group’s income statement, the following is recorded:

    • amortization of intangible assets for a full-year expense of -€7.6m (-€6.1m after tax)
    • other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; These expenses are recorded as deductions from net income, as finance costs.

    In Q3 2024, the amortization of intangible assets was -€1.9m before tax (-€1.5m after tax) and non-cash expenses were -€1.4m before tax (i.e. -€1.1m after tax). Over the first 9 months of 2024, these expenses are respectively -€3.8m and -€2.9m (-€6.6m in total), since they only started in Q2.

    Alternative Performance Measures20

    In order to present an income statement that is closer to economic reality, Amundi publishes adjusted data that excludes the depreciation of intangible assets and, since the second quarter of 2024, Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates.
    Adjusted, normalized data are reconciled with accounting data as follows:

    = accounting data
    = adjusted data
    (m€)   9M 2024 9M 2023   Q3 2024 Q3 2023   Q2 2024
                     
    Net operating income   2,452 2,307   825 747   844
    Technology   54 42   20 14   17
    Net financial income and other income   (1) (13)   (6) (1)   3
    Adjusted net financial income and other income   67 49   17 19   26
                     
    Net revenues (a)   2,505 2,336   838 760,   864,
    – Depreciation of intangible assets before tax   (65) (61)   (22) (20)   (22)
    – other non-cash charges relating to Alpha Associates   (3) 0   (1) 0   (1)
    Net revenues – Adjusted (b)   2,573 2,397   862, 780,   887
                     
    Operating expenses (c)   (1,356) (1,280)   (456) (424)   (461)
    – Integration costs before tax   0 0   0 0   0
    Operating expenses – Adjusted (d)   (1,356) (1,280)   (456) (424)   (461)
                     
    Gross operating income (e) = (a) + (c)   1,149 1,056   382 335   403
    Gross operating income – Adjusted (f) = (b) + (d)   1,217 1,117   406 356   426
    Cost-income ratio (%) -(c)/(a)   54.1% 54.8%   54.4% 55.9%   53.4%
    Cost-income ratio – Adjusted (%) -(d)/(b)   52.7% 53.4%   52.9% 54.4%   51.9%
    Cost of risk & other (g)   (7) (5)   (2) (3)   (5)
    Equity-accounted companies (h)   94 73   33 24   33
    Income before tax (i) = (e) + (g) + (h)   1,237 1,124   413 356   431
    Income before tax – Adjusted (j) = (f) + (g) + (h)   1,305 1,185   437 377   454
    Income tax (k)   (283) (260)   (94) (82)   (98)
    Income tax – Adjusted (l)   (302) (277)   (101) (88)   (105)
    Non-controlling interests (m)   2 3   1 1   0
    Net income, Group share (o) = (i)+(k)+(m)   956 866   320 276   333
    Net income, Group share – Adjusted (p) = (j)+(l)+(m)   1,005 910   337 290   350
                     
    Earnings per share (€)   4.67 4.25   1.56 1.35   1.63
    Adjusted earnings per share (€)   4.91 4.46   1.65 1.42   1.71

    Shareholding

        30 September 2023   31 December 2023   30 September 2024
    (units)   Number

    of shares

    		 % of share capital   Number

    of shares

    		 % of share capital   Number

    of shares

    		 % of share capital
    Crédit Agricole Group   141,057,399 68.93%   141,057,399 68.93%   141,057,399 68.93%
    Employees   3,042,292 1.49%   2,918,391 1.43%   2,751,891 1.34%
    Treasury shares   1,297,231 0.63%   1,247,998 0.61%   958,031 0.47%
    Free float   59,250,712 28.95%   59,423,846 29.04%   59,880,313 29.26%
                       
    Number of shares at end of period   204,647,634 100.0%   204,647,634 100.0%   204,647,634 100.0%
    Average number of shares year-to-date   204,050,516 –   204,201,023 –   204,647,634 –
    Average number of shares quarter-to-date   204,425,079 –   204,647,634 –   204,647,634 –

    Average number of shares on a pro rata basis.

    • The average number of shares is unchanged between Q2 and Q3 2024, it increased by +0.1% between Q3 2023 and Q3 2024 and by +0.3% between the first 9 months of 2023 and the same period of 2024;
    • A capital increase reserved for employees will be carried out on October 31, 2024. 771,628 shares were created (approximately 0.4% of the share capital before the transaction), bringing the share of employees to about 1.7% of the capital, compared to 1.34% at September 30, 2024, before the transaction.                                        

    Financial communication calendar

    • Q4 and Full Year 2024 Results: February 4, 2025
    • Q1 2025 earnings release: April 29, 2025
    • Annual General Meeting: May 27, 2025
    • Q2 and H1 2025 earnings release: July 29, 2025
    • Q3 and 9-month 2025 results: October 28, 2025

    About Amundi

    Amundi, the leading European asset manager, ranking among the top 10 global players21, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages close to €2.2 trillion of assets22.

    With its six international investment hubs23, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

    Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.

    Amundi, a trusted partner, working every day in the interest of its clients and society.

    www.amundi.com  

    Press contacts:        
    Natacha Andermahr 
    Tel. +33 1 76 37 86 05
    natacha.andermahr@amundi.com 

    Corentin Henry
    Tel. +33 1 76 36 26 96
    corentin.henry@amundi.com

    Investor contacts:
    Cyril Meilland, CFA
    Tel. +33 1 76 32 62 67
    cyril.meilland@amundi.com 

    Thomas Lapeyre
    Tel. +33 1 76 33 70 54
    thomas.lapeyre@amundi.com 

    Annabelle Wiriath

    Tel. + 33 1 76 32 43 92

    annabelle.wiriath@amundi.com

    WARNING

    This document does not constitute an offer or invitation to sell or purchase, or any solicitation of any offer to purchase or subscribe for, any securities of Amundi in the United States of America or in France. Securities may not be offered, subscribed or sold in the United States of America absent registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements thereof. The securities of Amundi have not been and will not be registered under the U.S. Securities Act and Amundi does not intend to make a public offer of its securities in the United States of America or in France.

    This document may contain forward looking statements concerning Amundi’s financial position and results. The data provided do not constitute a profit “forecast” or “estimate” as defined in Commission Delegated Regulation (EU) 2019/980.

    These forward looking statements include projections and financial estimates based on scenarios that employ a number of economic assumptions in a given competitive and regulatory context, assumptions regarding plans, objectives and expectations in connection with future events, transactions, products and services, and assumptions in terms of future performance and synergies. By their very nature, they are therefore subject to known and unknown risks and uncertainties, which could lead to their non-fulfilment. Consequently, no assurance can be given that these forward looking statement will come to fruition, and Amundi’s actual financial position and results may differ materially from those projected or implied in these forward looking statements. [In particular, conditions to completion of the announced transaction between Amundi and Victory Capital, may not be satisfied and such transaction may not be completed on schedule, or at all; risks relating to the expected benefits or impact of the transaction on Victory Capital’s and Amundi’s respective businesses are contained in their respective public filings.]

    Amundi undertakes no obligation to publicly revise or update any forward looking statements provided as at the date of this document. Risks that may affect Amundi’s financial position and results are further detailed in the “Risk Factors” section of our Universal Registration Document filed with the French Autorité des Marchés Financiers. The reader should take all these uncertainties and risks into consideration before forming their own opinion.

    The figures presented were prepared in accordance with applicable prudential regulations and IFRS guidelines, as adopted by the European Union and applicable at that date. The financial information set out herein do not constitute a set of financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting” and has not been audited.

    Unless otherwise specified, sources for rankings and market positions are internal. The information contained in this document, to the extent that it relates to parties other than Amundi or comes from external sources, has not been verified by a supervisory authority or, more generally, subject to independent verification, and no representation or warranty has been expressed as to, nor should any reliance be placed on, the fairness, accuracy, correctness or completeness of the information or opinions contained herein. Neither Amundi nor its representatives can be held liable for any decision made, negligence or loss that may result from the use of this document or its contents, or anything related to them, or any document or information to which this document may refer.

    The sum of values set out in the tables and analyses may differ slightly from the total reported due to rounding.

    1        Net income Group share
    2        Adjusted data: excluding amortisation of intangible assets relating to distribution and client contracts as well as other non-cash charges relating to the acquisition of Alpha Associates recorded in net financial income (see note p. 11)
    3        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    4        As announced at the time of the publication of the Q2 results, exit in Q3 from a large low-income mandate (€11.6 billion) with a European insurer, in multi-asset; including this exit, net inflows were positive by +€2.9bn in Q3 and +€35bn over 9 months
    5        Medium-Long Term Assets
    6        Excluding JVs
    7        Extraordinary General Meeting of Shareholders of Victory Capital, held on 11 October 2024
    8        Source: TrackInsight Q3 2024
    9        Classified as article 8 or 9 of the SFDR regulation of the European Union
    10        Including JV: €234bn in assets, +€12bn net inflows over 9 months and +€1bn in Q3
    11        50% MSCI World + 50% Eurostoxx 600 composite index for equity markets, average values over each period considered
    12        Bloomberg Euro Aggregate for bond markets, average values over each reporting period
    13        Source: Morningstar FundFile, ETFGI. European & cross-border open-ended funds (excluding mandates and dedicated funds). Data as of the end of June 2024.
    14        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    15        Anniversary dates of the funds triggering the recognition of these fees
    16        Source: Morningstar Direct, Broadridge FundFile – Open-ended funds and ETFs, global fund scope, September 2024; as a percentage of the assets under management of the funds in question; the number of Amundi open-ended funds rated by Morningstar was 1063 at the end of September 2024. © 2024 Morningstar, all rights reserved
    17        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    18        Lyxor, integrated as of 31/12/2021
    19        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV; as of 01/01/2024, reclassification of short-term bond strategies (€30 billion in outstandings) as Bonds previously classified as Treasury until that date; Outstanding amounts up to that date have not been reclassified in these tables
    20        See also the section 4.3 of the 2023 Universal Registration Document filed with the AMF on April 18, 2024
    21Source: IPE “Top 500 Asset Managers” published in June 2024, based on assets under management as at 31/12/2023
    22Amundi data at 30/09/2024
    23Boston, Dublin, London, Milan, Paris and Tokyo

    Attachment

    The MIL Network –

  • MIL-OSI: RIBER: Solid Business Growth at End-September 2024

    Source: GlobeNewswire (MIL-OSI)

    SOLID BUSINESS GROWTH AT END-SEPTEMBER 2024

    • Revenues up +14% to €18.5m
    • Order book strengthened to €38.3m (+14%)

    Bezons, October 30, 2024 – 8:00am – RIBER, the global leader for molecular beam epitaxy (MBE) equipment serving the semiconductor industry, is reporting its revenues for the year to end-September 2024.

    Change in revenues

    €m 2024 2023 Change
    First quarter 4.5 3.7 +20 %
    Second quarter 9.3 8.5 +10 %
    Third quarter 4.7 4.0 +19 %
    Total 9-month revenues 18.5 16.2 +14 %
    At end-September (€m) 2024 2023 Change
    Systems 12.3 9.6 +28 %
    Services and accessories 6.2 6.6 -6 %
    Total 9-month revenues 18.5 16.2 +14 %

    At September 30, 2024, RIBER revenues amounted to €18.5m, up +14% compared with the same period in 2023, reflecting the company’s strengthened position in the MBE market for both research and industrial production.

    Systems revenues came to €12.3 m, up +28% with the delivery of 4 machines, compared with 5 machines in the first nine months of 2023.

    Revenues for services and accessories totaled €6.2 m, down 6% compared with the previous year.

    The geographical breakdown of revenues at end-September 2024 was as follows: Asia 68%, Europe 25% and North America 6%.

    Order book developments

    At end-September (€m) 2024 2023 Change
    Systems 31,9 27,6 +16%
    Services and accessories 6,4 6,1 +6%
    Total order book 38,3 33,6 +14%

    The systems order book came to €31.9m, up +16%, with a total of 13 systems, including 8 production machines. This figure does not include the order for a production system announced on October 21, 2024.

    The services and accessories order book reached €6.4m, up +6% from the previous year.

    As a result, at September 30, 2024, the total order book came to €38.3m, up +14% compared with the same period in 2023.

    Outlook

    Based on the fourth-quarter delivery schedule, RIBER expects to exceed €40m in full-year revenues, along with further improvements in earnings.

    Against a favorable backdrop of growth in the compound semiconductor market, new orders should continue to be booked before the end of the year.

    Next date: 2024 full-year revenues will be released on Wednesday January 29, 2025 (before start of trading).

    About RIBER

    Founded in 1964, RIBER is the global market leader for MBE – molecular beam epitaxy – equipment. It designs and produces equipment for the semiconductor industry, and provides scientific and technical support for its clients (hardware and software), maintaining their equipment and optimizing their performance and output levels.
    Accelerating the performance of electronics, RIBER’s equipment performs an essential role in the development of advanced semiconductor systems that are used in numerous applications, from information technologies to photonics (lasers, sensors, etc.), 5G telecommunications networks and research, including quantum computing.

    RIBER is a BPI France-approved innovative company and is listed on the Euronext Growth Paris market (ISIN: FR0000075954).
    www.riber.com

    Contacts

    RIBER : Annie Geoffroy| tel: +33 (0)1 39 96 65 00 | invest@riber.com

    CALYPTUS : Cyril Combe | tel: +33 (0)1 53 65 68 68 | cyril.combe@calyptus.net

    Attachment

    The MIL Network –

  • MIL-OSI Economics: France defense expenditure to reach $67.8 billion in 2029, forecasts GlobalData

    Source: GlobalData

    In July 2023, France outlined its defense spending plans for the next six years in the Military Planning Law (LPM) 2024-30, expanding the modernization initiatives kickstarted by LPM 2019-25 to reflect evolving geostrategic dynamics and better incorporate emerging technologies, including unmanned and space-based assets. Against this backdrop, France is expected to increase defense spending from $60.4 billion in 2024 to $67.8 billion in 2029, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “France Defense Market Size, Trends, Budget Allocation, Regulations, Acquisitions, Competitive Landscape and Forecast to 2029”, reveals that France’s defense spending is forecast to rise to $64 billion in 2025.

    Tristan Sauer, Senior Defense Analyst at GlobalData, comments: “The deterioration of European security following Russia’s invasion of Ukraine has highlighted the importance of France’s strategic reforms, providing the impetus for further and more diversified investment in defense and security capabilities. The most recent spending commitments will allow French defense expenditures to surpass 2% of GDP and finally attain the minimum threshold recommended for NATO members.”

    France’s armed forces continue to pursue modernization across the different operational domains. The largest amount of spending is being directed to the fixed-wing aircraft, missiles and missile defense systems, naval vessels, submarines, and armored vehicles market segments over the next several years. Between 2024-2034, France’s largest investments are for the international FCAS New Generation Fighter program ($17.9 billion), the SNLE 3G nuclear submarines ($17.3 billion), and various upgrades to the Rafale fighter jet program ($12.9 billion).

    Sauer continues: “These investments are indicative of a renewed strategic focus on the commensurate rise of both great power competition and the risk of high intensity conflict. Procurement of conventional capabilities such as aircraft, naval assets, artillery, armored vehicles, and weapons systems is being supplemented with investment in cybersecurity as well as space systems to account for the increasingly diffuse and multi-domain nature of modern warfare.”

    As with many western nations, France is facing recruitment issues leading to personnel shortages despite growing investment. GlobalData forecasts that France will spend $125.9 billion on military personnel between 2025-2029, though spending will only increase at a CAGR of 0.5%, which is far slower than the 1.26% CAGR achieved between 2020-2024.

    Sauer concludes: “France’s continued investments in modernization and acquisition programs provide substance to the broader political refocus on strategic competition and its associated risks, with the nation’s growing defense industrial base providing growing opportunities for international engagement. However, much like with the US and other NATO allies, lackluster performance with regards to personnel recruitment and retention is indicative of a wider challenge, which current investments have thus far failed to overcome.”

    MIL OSI Economics –

  • MIL-OSI Global: Do we need a European DARPA to cope with technological challenges in Europe?

    Source: The Conversation – France – By David W. Versailles, Professor, strategic management and innovation management, co-director of PSB’s newPIC chair, PSB Paris School of Business

    The headquarters of the Defense Advanced Research Projects Agency (DARPA) in Arlington, Virginia. ajay_suresh/Flickr, CC BY

    The US Defense Advanced Research Projects Agency (DARPA) is often held as a model for driving technology advances. For decades, it has contributed to military and economic dominance by bridging the gap between military and civilian applications. European policymakers frequently reference DARPA in discussions, as outlined in the 2024 Draghi Report, but an EU equivalent has yet to materialise. To create such an agency, the governance and management of European innovation programmes would need drastic changes.

    DARPA supports disruptive innovation

    Founded in 1958, DARPA operates under the US Department of Defense (DoD) with a straightforward mission: to fund high-risk technological programmes that could lead to radical innovation. DARPA provides support throughout the innovation process, focusing on environments where new uses for technology must be invented or adapted. Although part of the DoD, DARPA funds projects that promise technological and economic superiority whether they align with current military priorities or not. DARPA has backed projects like ARPANET, the precursor to the internet, and the GPS. Today, DARPA shows interest in autonomous vehicles for urban areas and new missile technologies.

    As part of its core mission, DARPA accepts high financial risks on exploration projects and makes long-term commitments to these projects. Many emblematic successes explain why DARPA is a reference agency. However, the list of failed projects is even longer. Both failures and successes feed the exploration process in emerging industrial sectors. They represent opportunities to learn together and build collective strategies in innovation ecosystems.

    Five key principles of DARPA

    DARPA’s success stems not just from its stability but from adhering to five organisational principles that allow it to explore deep tech in an open innovation context:

    • Independence: DARPA operates independently from other military services, research & development centres and federal agencies, allowing it to explore options outside dominant research paradigms. While cooperation is possible, its decisions and directions are not influenced by other parts of the federal administration.

    • Agility: The agency’s flat organisational structure minimises bureaucracy. Its independent decision-making processes and streamlined contracting allow it to pivot quickly, test new concepts and collaborate with academic or private sector partners. Agility also enables DARPA to test new exploration or experimentation methods that are often based on user-centric approaches. Potential military or civilian end-users are involved very early in innovation projects to discuss potential uses and applications. This approach has recently led DARPA to absorb the Strategic Capabilities Office (SCO), where officers from the different military services (Army, Air Force, Navy and Marines) and all military ranks test new technological solutions (from different maturity levels), fostering co-creation processes with military innovators and expanding the agency’s impact.

    • Sponsorship: High-ranking executives within the DoD and other federal administrations (NASA, Department of Energy) endorse, but do not commission, DARPA’s projects. This sponsorship model increases a project’s potential impact and allows for swift adaptation if a project fails.

    • Community building: DARPA creates innovation communities with a mix of diverse expertise. By bringing different perspectives together, it fosters collective strategies essential for disruptive innovation.

    • Diverse leadership: Project managers come from a range of backgrounds, including civilian experts, military officers and private-sector professionals. All have demonstrated scientific and technological expertise and a solid capability to bridge dreams and foresight with reality. All have a perfect command of risk and complexity management. Managers serve three- to four-year terms focused on driving technological disruption and building new innovation ecosystems. Their diverse expertise sets DARPA apart from other federal agencies.

    The challenge of a European DARPA

    The Draghi Report on European competitiveness suggests that a European DARPA could help bridge technological gaps, reduce dependencies and accelerate the green transition. However, implementing this model would require a seismic shift in how European agencies operate. Creating a new agency would be ineffective without ensuring that all principles underlying the success of DARPA are implemented in Europe.

    Even if Europe actively promotes deep tech and devotes significant budgets to it, European public policies and ways of working prevailing in national and European agencies are hardly consistent with the DARPA model. European agencies do not have much autonomy in their decisions about the exploration of new ventures or human resource management. They clearly demonstrate an outcome-focused orientation inconsistent with DARPA’s approach to risk.

    Two main challenges

    European agencies often lack the stable missions, scope and ambition seen at DARPA. The European Space Agency (ESA), the European Defence Agency (EDA) and Eurocontrol highlight the difficulties in developing cohesive, cross-border innovation ecosystems. A European DARPA would require a unified ambition among EU member states, a challenging feat given the institutional and geopolitical divides within Europe. The debates around the European Defence Fund illustrate how complex it is to reach consensus on shared objectives and funding.

    Adopting DARPA’s five organisational principles would represent a cultural revolution for European agencies in relation to EU bureaucratic norms and the budgetary controls of individual member states. Implementing these changes would also disrupt the existing power balance between countries. The DARPA model is inconsistent with the European “fair returns” model that refers to proportionality rules between funding, research operations and then industrial repartition during the production phase between member states in each project. The DARPA model would only focus on existing competencies, excellence, risk-taking approaches and entrepreneurial mindsets.

    Establishing a European DARPA would require a fundamental rethinking of public policy management in Europe. Its success would depend on whether European stakeholders are willing to adopt DARPA’s core principles, including its independence, agility and willingness to accept failure. Creating an agency is one thing; ensuring it adheres to the structures that make DARPA effective is another. The question remains: Is Europe ready for this transformation?

    David W. Versailles has received funding from the French Ministry of Defence to develop this research.

    Valérie Mérindol has received funding from the French Ministry of the Armed Forces to develop this research.

    – ref. Do we need a European DARPA to cope with technological challenges in Europe? – https://theconversation.com/do-we-need-a-european-darpa-to-cope-with-technological-challenges-in-europe-240696

    MIL OSI – Global Reports –

  • MIL-OSI Europe: Written question – Labeling and designation of non-animal origin products – E-002194/2024

    Source: European Parliament

    21.10.2024

    Question for written answer  E-002194/2024
    to the Commission
    Rule 144
    Esther Herranz García (PPE), Dolors Montserrat (PPE), Herbert Dorfmann (PPE), Céline Imart (PPE), Paulo Do Nascimento Cabral (PPE), Daniel Buda (PPE), Rosa Estaràs Ferragut (PPE), Susana Solís Pérez (PPE), Antonio López-Istúriz White (PPE), Adrián Vázquez Lázara (PPE), Salvatore De Meo (PPE), Gabriel Mato (PPE), Isabel Benjumea Benjumea (PPE), Nicolás Pascual De La Parte (PPE), Raúl de la Hoz Quintano (PPE), Elena Nevado del Campo (PPE), Maravillas Abadía Jover (PPE), Pablo Arias Echeverría (PPE), Carmen Crespo Díaz (PPE), Pilar del Castillo Vera (PPE), Borja Giménez Larraz (PPE)

    The Court of Justice of the European Union recently ruled in case C-438/23[1] that the criteria established by Regulation (EU) No 1169/2011[2] sufficiently protect consumers against misleading information even in cases of total substitution of the only component or ingredient that a consumer may expect to find in a food product referred to by a common or descriptive name that contains certain customary terms.

    Problems have arisen from the use of customary terms typically associated with meat products, such as ‘burger’, ‘steak’ or ‘sausage’, to refer to vegetarian or vegan foods.

    This judgment could lead to the fragmentation of the single market as it may allow Member States to establish differing legal definitions for such terms.

    • 1.Is the Commission considering drafting a legislative proposal to harmonise the use of these terms at EU level?
    • 2.Given that we are awaiting the proposal on front-of-pack food labeling, is the Commission considering including this issue in that proposal?

    Submitted: 21.10.2024

    • [1] Judgment of 4 October 2024 – Protéines France and Others, C-438/23, ECLI:EU:C:2024:826.
    • [2] Regulation (EU) No 1169/2011 of the European Parliament and of the Council of 25 October 2011 on the provision of food information to consumers (OJ L 304, 22.11.2011, p. 18, ELI: http://data.europa.eu/eli/reg/2011/1169/oj).
    Last updated: 30 October 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Latest news – 30 September 2024 – Constitutive meeting – Delegation to the Africa-EU Parliamentary Assembly

    Source: European Parliament

    At its constitutive meeting on 30 September 2024, the Delegation to the Africa-EU Parliamentary Assembly (DAFR) elected the following Bureau members:

    Chair: Hilde VAUTMANS (Renew, Belgium)

    1st Vice-Chair: Michal WIEZIK (Renew, Slovakia)

    2nd Vice-Chair: Ingeborg TER LAAK (EPP, Netherlands)

    3rd Vice-Chair: Nicolas BAY (ECR, France)

    4th Vice-Chair: Christophe CLERGEAU (S&D, France)

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Breach of the principles of the rule of law in France by the Minister for the Interior – E-002173/2024

    Source: European Parliament

    18.10.2024

    Question for written answer  E-002173/2024
    to the Commission
    Rule 144
    Marina Mesure (The Left), Manon Aubry (The Left), Younous Omarjee (The Left), Anthony Smith (The Left), Leila Chaibi (The Left), Arash Saeidi (The Left), Rima Hassan (The Left), Damien Carême (The Left), Emma Fourreau (The Left)

    On Saturday 28 September, the French Minister of Interior, Bruno Retailleau, said in Le Journal du dimanche that ‘the rule of law is not inviolable or sacred’. A statement of that kind from the Minister responsible for the proper exercise of civil liberties is more than simply shocking – it is dangerous. More than anything, it is wholly at odds with the values of the European Union, as enshrined in Article 2 of the Treaty on European Union (TEU).

    When Hungary severely violated the values of the European Union laid down in Article 2 TEU, as well as the principles of the rule of law, the Commission was able to trigger the procedures provided for in Article 7 TEU and in the Regulation on a general regime of conditionality for the protection of the Union budget.

    • 1.Will the Commission be able to exercise the same vigilance where France is concerned?
    • 2.Is it concerned about the statements made by the French Minister of the Interior?
    • 3.Does it plan to take steps to protect the rule of law?

    Submitted: 18.10.2024

    Last updated: 30 October 2024

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Life and the law explored in new podcast series The University of Aberdeen’s School of Law has launched a new podcast series looking at a range of topical issues viewed through a legal lens.

    Source: University of Aberdeen

    The first four episodes are available nowThe University of Aberdeen’s School of Law has launched a new podcast series looking at a range of topical issues viewed through a legal lens.
    In each episode hosts Neil Weightman and Lauren Mitchell will chat to law lecturers to get their take on a variety of topics from energy law and cryptocurrency to freedom of speech and the impact of copyright on the music industry.
    Across the 10-part series, they will use real-world cases to bring each episode’s theme to life, while keeping the topics interesting and fun for a broad audience ranging from undergraduates, postgraduates and members of the public.
    “There isn’t a topic in existence that the law doesn’t bump up against, which gives us endless scope to offer insights and perspective on some of the key challenges facing society today,” said Professor Greg Gordon, Head of the School of Law.
    “These podcasts will shine a light on the breadth of expertise that exists within the School and the scope of the research, policy affairs and public-facing issues that we play an active part in tackling.
    “Tailored towards a wide audience, we hope they will be both interesting and fun to listen to.”
    The first four episodes are available now across platforms including Spotify, Apple Podcasts and Amazon Music, as well as the University website, with further episodes to come in the new year.
    The series includes:

    There isn’t a topic in existence that the law doesn’t bump up against, which gives us endless scope to offer insights and perspective on some of the key challenges facing society today.” Professor Greg Gordon, Head of the School of Law

    Episode 1: Anti-SLAPP Laws: Protecting the Public
    Dr Francesca Farrington and Professor Justin Borg-Barthet discuss anti-SLAPP (Strategic Lawsuits Against Public Participation) laws and their crucial role in safeguarding freedom of speech. SLAPPs are lawsuits aimed at silencing critics, such as journalists, activists, and human rights defenders, by burdening them with costly legal battles.
    Episode 2: Crypto Assets, Blockchain, and the Law
    Delve into the legal dimensions of crypto assets and blockchain technology with Dr Alisdair MacPherson and Professor Burcu Yüksel Ripley. They discuss how crypto assets challenge traditional legal concepts of property, regulation, and financial transactions. The conversation covers the regulatory gaps, the treatment of crypto assets under English and Scots law, and the broader legal implications of decentralised systems like blockchain.
    Episode 3: Copyright Law: Taylor Swift and the Music Industry
    Professor Abbe Brown, Dr Titilayo Adebola and Professor Greg Gordon discuss the complex legal landscape of copyright law, with the Taylor Swift case as a central example. The episode explores how copyright operates as a property right, its territorial nature, and the significant role of contracts in determining artists’ control over their creations.
    Episode 4: Energy Law and the Transition to a Low-Carbon Future
    Professor Greg Gordon and Dr Daria Shapovalova discuss the legal challenges surrounding the energy transition from fossil fuels to low-carbon sources. The episode explores the critical role that law and policy play in decarbonising energy systems, securing supply and addressing energy poverty.

    MIL OSI United Kingdom –

  • MIL-OSI Global: How does REACH, the EU regulation governing chemical substances, work?

    Source: The Conversation – France – By Johanna Berneron, Toxicologue reglementaire, Agence nationale de sécurité sanitaire de l’alimentation, de l’environnement et du travail (Anses)

    Adopted by the European Union in 2006, the REACH regulation (Registration, Evaluation, Authorisation and Restriction of Chemicals) governs the manufacture and use of chemical substances in Europe. Despite its importance, REACH has often been criticised for being slow and complex. These concerns prompted calls for reform as part of the European Green Deal, though the European Commission ultimately postponed the revision. Various NGOs have called for this reform, and in early 2024, the French National Assembly’s European Affairs Committee reignited the conversation, with a resolution currently under review.

    Nevertheless, REACH remains an ambitious and indispensable regulation that protects human health and the environment from the hazards posed by chemical substances. While it’s not perfect, it represents progress in comparison with previous regulatory frameworks. One notable success is the ban on bisphenol A (BPA), a controversial chemical previously used in baby bottles.

    Understanding the REACH process

    REACH is straightforward if you break down its steps:

    • Substance registration: Manufacturers must submit detailed information on the chemical, toxicological and environmental properties of substances they produce or import. If no data exists, they are required to generate it. Unlike previous regulations and directives, REACH places the burden of proof on companies. To comply with the regulation, companies must identify and adequately manage the risks associated with the substances they manufacture and market in the EU. In particular, they must demonstrate how the substances can be used safely and communicate risk management measures to users.

    • Compliance checks: The European Chemicals Agency (ECHA) ensures that the registration dossiers are complete and meet regulatory requirements. This is known as compliance analysis.

    • Substance evaluation: If concerns arise, a substance undergoes further evaluation to assess risks to human health and the environment. This procedure is conducted by the member states (with ANSES representing France) and enables the authorities to request additional information from industries.

    Member states, including ANSES, carry out these evaluations, focusing on national health priorities. Substances flagged for further assessment are added to the Community Rolling Action Plan (CoRAP), a three-year plan outlining substances to be evaluated by member states.

    If additional safety measures are needed, several outcomes are possible:

    • SVHC identification: Substances of Very High Concern (SVHC) may require authorisation for continued use.

    • Restrictions: Can limit or ban certain uses of a substance.

    • Classification: Hazardous substances may be classified as carcinogenic, toxic to reproduction or in other such categories and must be labelled for these hazardous properties.

    Bisphenol A: a case study

    Bisphenol A (BPA) exemplifies REACH’s impact. In 2017, Germany initiated an evaluation of BPA, resulting in its classification as a reprotoxic substance under the EU’s Classification, Labelling and Packaging (CLP) regulation. BPA was also identified as an SVHC due to its endocrine-disrupting properties, which pose risks to human health and the environment.

    Although these various management measures have faced legal challenges from industry, including through appeals, all have been upheld. They have proven effective, as highlighted by a European Environment Agency (EEA) report showing that BPA concentrations in Europeans’ urine are decreasing, in contrast to other bisphenols.

    The role of ANSES

    ANSES plays a key role in implementing the EU’s REACH regulation, supporting French authorities in managing chemical risks. Among its responsibilities, ANSES can identify a substance as an SVHC, preparing dossiers that can lead to these substances being added to Annex XIV of REACH. Once listed, the substances are restricted, and their use is only allowed if the European Commission specifically authorises it. Such authorisations are granted when it’s proven that the risks are controlled or the socioeconomic benefits outweigh them.

    Before a substance is included in Annex XIV, it must first be identified as an SVHC. This step is aimed at encouraging the gradual replacement of these hazardous chemicals with safer alternatives, protecting both human health and the environment.

    ANSES also prepares restriction dossiers, evaluating the socioeconomic impact of limiting or banning substances that pose unacceptable risks. These restrictions can apply to chemicals in their pure form, in mixtures, or within products.

    Additionally, ANSES produces harmonised classification dossiers for chemicals like carcinogens, mutagens, and reproductive and respiratory sensitizers, for instance. Once included in Annex VI of the CLP regulation, industries must label their products accordingly, alerting users – especially workers – about potential hazards and ensuring proper precautions are taken.

    Room for improvement

    Despite improvements, the REACH regulation still faces significant challenges. Many industries, and particularly smaller companies, struggle to comply due to the high cost of registration. In 2018, the German Federal Institute for Risk Assessment (BfR) reported that 31% of chemical substances produced in or imported into the EU in quantities over 1,000 tonnes per year failed to meet REACH requirements.

    In response, ECHA has enhanced its chemical data management, but industries remain unsatisfied, accusing ECHA of pushing for classifications or requesting new tests without robust toxicological justifications. These requests often aim to address data gaps in industry-provided dossiers while minimising animal testing.

    REACH’s main limitation is its dependence on industry-submitted data to evaluate chemical risks. These data can be incomplete, outdated or missing, forcing regulators to request additional information, which delays risk assessments and decision-making.

    Consequently, the evaluation of substances and review of authorisation requests are often slow, delaying the entry of safer, innovative chemicals. Many potentially hazardous substances remain on the market without adequate regulation, a persistent concern from a public health standpoint.

    A revision of REACH is expected to streamline processes, improve efficiency and impose stricter penalties on non-compliant industries, potentially revoking their REACH registration numbers. This would prevent the sale of substances without the necessary data.

    These changes align with the European Commission’s strategy for a toxic-free environment under the European Green Deal. However, there is concern that lobbying could undermine this vital regulation, a global standard in chemical safety.

    Despite its complexities, REACH remains a critical safeguard for European public health and environmental protection.

    Johanna Berneron ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    – ref. How does REACH, the EU regulation governing chemical substances, work? – https://theconversation.com/how-does-reach-the-eu-regulation-governing-chemical-substances-work-241931

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