NewzIntel.com

Category: Politics

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

    Source: Scottish Greens

    26 Feb 2025 External Affairs

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

    More in External Affairs

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

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

    Scottish Green Co-leader Lorna Slater said:

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

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

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

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

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

    Ms Slater added:

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

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

    MIL OSI United Kingdom –

  • MIL-OSI USA: SBA Offers Relief to Kentucky Businesses, Nonprofits and Residents Affected by February Storms

    Source: United States Small Business Administration

    WASHINGTON – In response to a Presidential disaster declaration issued Feb. 24, 2025, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for Kentucky businesses, nonprofits, and residents affected by the severe storms, straight-line winds, flooding, landslides and mudslides occurring Feb. 14.  

    Under this declaration, the primary counties of Breathitt, Clay, Floyd, Harlan, Knott, Lee, Letcher, Martin, Owsley, Perry and Pike are eligible for both Physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Small businesses and most private nonprofit (PNP) organizations in the following adjacent counties are eligible to apply only for SBA EIDLs: Bell, Estill, Jackson, Johnson, Knox, Laurel, Lawrence, Leslie, Magoffin, Powell and Wolfe, as well as Buchanan, Dickenson, Lee and Wise in Virginia; and Mingo and Wayne in West Virginia.

    Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.    

    Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.    

    Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.    

    SBA’s EIDL program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

    Interest rates are as low as 4% for small businesses, 3.625% for PNPs, and 2.563% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

    Beginning Thursday, Feb. 27, SBA customer service representatives will be on hand at the Business Recovery Center (BRC) in Perry County to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov. The BRC hours of operation are listed below:

    Business Recovery Center (BRC) 
    Perry County

    Hazard Community and Technical College Jolly Classroom Center

    1 Community College Drive

    Hazard, Kentucky 41701

    Opening:  Thursday, Feb. 27, 8 a.m. to 6 p.m.

    Hours: Monday – Friday – 8 a.m. to 6 p.m.

    Saturday, 9 a.m. to 3 p.m.

    Closed: Sunday

    Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.

    With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover.  FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition.  

    To apply online, visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.  

    The filing deadline to return applications for physical property damage is April 25, 2025. The deadline to return economic injury applications is Nov. 24, 2025.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI Security: Former Missoula credit union employee sentenced to prison for embezzling $389,000 by swapping real money for fake currency

    Source: Office of United States Attorneys

    MISSOULA — A former Missoula credit union employee who admitted to embezzling approximately $389,000 from the vault by swapping real money with fake funds was sentenced yesterday to six months in prison, to be followed by five years of supervised release, and ordered to pay $389,000 restitution, Acting U.S. Attorney Timothy J. Racicot said.

    The defendant, Edward Arthur Nurse, 35, of Missoula, pleaded guilty in October 2024 to an indictment charging him with theft from a credit union.

    U.S. District Judge Donald W. Molloy presided. The court also sentenced Nurse to six months of home confinement and to perform 600 hours of community service. The court allowed Nurse to self-report to prison.

    In court documents, the government alleged that from about July 2023 to June 2024, Nurse embezzled from his employer, Park Side Credit Union in Missoula. In June 2024, an employee discovered $340,000 in cash in the credit union’s vault had been replaced with fake funds from a company that provides fake currency as props for movies and entertainment productions. Nurse used his position as “team lead” for the vault to swap the credit union’s cash with fake money he purchased specifically for this purpose. Nurse hid his conduct from security cameras, auditors and his colleagues by putting real money at the front and back of bundles of fake money. Nurse made multiple purchases of fake money and stole the real cash from his work at different times over a seven-month period.

    After the credit union discovered the thefts, Nurse claimed to an FBI special agent that he did not usually carry much cash and, aside from a vacation to Las Vegas, Nevada, he had not made any recent large purchases or cash deposits. However, records show that Nurse made at least nine cash deposits of over $10,000 each in 2024 into his personal account.  The investigation also determined that during the first six months of 2024, Nurse had purchased $410,000 in fake currency from a prop money company. The credit union was later informed that approximately $50,000 in fake money had been received by the Federal Reserve in July 2024. Those funds were returned and determined to be fake bills from the prop money company.

    The U.S. Attorney’s Office prosecuted the case. The FBI, with assistance from the Missoula Police Department, conducted the investigation.

    XXX

    MIL Security OSI –

  • MIL-OSI USA: Grassley Opening Statement on DOJ Nominees John Sauer, Harmeet Dhillon and Aaron Reitz

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    Opening Statement by Senator Chuck Grassley of Iowa
    Chairman, Senate Judiciary Committee
    Wednesday, February 26, 2025
    Good morning. I’d like to welcome everyone to this hearing to consider the nominations of John Sauer to serve as the Solicitor General, Harmeet Dhillon to serve as the Assistant Attorney General for the Civil Rights Division and Aaron Reitz to serve as Assistant Attorney General for the Office of Legal Policy.
    Before I turn to my opening statement, I’ll explain how we’re going to proceed today.
    I’ll give my opening remarks, and then I’ll invite Ranking Member Durbin to give opening remarks. Then, I’ll call on Senators Lee, Cruz, Hawley and Schmitt to introduce the nominees. After that, the nominees will have a chance to give an opening statement to the Committee. 
    Following the statements from the nominees, we’ll proceed to a single, five-minute round of questions. I ask Members to do their best to adhere to these time limits, so that we can proceed efficiently with the hearing.
    With that, I’ll turn to my opening remarks.
    Our three nominees have been tapped to serve in important roles in the Department of Justice. Congratulations on your nominations. If confirmed, your work will impact the lives of millions of Americans.
    Each of you has impressive qualifications, and we’re looking forward to hearing from you. I’d like to thank your family and friends for coming today. I know they’re all very proud of you.
    I’ve said many times that the Department of Justice is at an inflection point. Over the last four years, public trust in the Department has declined, and many Americans feel like the justice system doesn’t work for them.
    If confirmed, we expect you to work with Attorney General Pam Bondi to fulfill her promise to turn things around.
    Mr. Sauer, you’re particularly well suited to serve as the nation’s chief appellate lawyer. You started your career clerking for Justice Scalia, one of the legal giants of our time. Justice Scalia spent his life teaching lawyers to faithfully interpret the law and Constitution according to its original meaning. I’ve no doubt that you learned this lesson well.
    After clerking and a stint in private practice, you left D.C. behind to go home and serve as an Assistant United States Attorney in Missouri. You worked diligently to prosecute criminals and to keep your community safe. 
    In 2017, you joined the Missouri Attorney General’s Office as the Solicitor General, where you served under two members of this Committee, Senator Hawley and Senator Schmitt.  Serving as a state’s chief appellate officer during the COVID pandemic and across two presidential administrations undoubtedly prepared you for the role you will walk into if you are confirmed. 
    There’s a lot of work to be done defending our nation’s laws, and I know you’re prepared to take it on.
    Ms. Dhillon, you’re one of the nation’s foremost experts on civil rights. Your journey started a long way from here, when your family immigrated from India. You went to Dartmouth at the tender age of 16, and then went to law school at the University of Virginia.
    Throughout your career, you’ve never shied away from unpopular but just causes. You served as the Director of an ACLU chapter after 9/11, a group many on my side are often skeptical of. You also started your own law firm and founded a non-profit. You’ve litigated some of the most important cases on free speech, religious liberty, voting rights and discrimination.
    Discrimination is wrong. Our Constitution and our civil rights laws do not tolerate discrimination on the basis of race, as the Supreme Court recently made clear in the Students for Fair Admissions cases.
    Unfortunately, the Biden administration not only allowed discrimination to take place, but openly encouraged it. Under the name of “Diversity, Equity, and Inclusion,” the Biden administration imposed a nationwide regime of discrimination, and the Civil Rights Division completely failed to enforce our nation’s laws. President Trump has put an end to this and, if confirmed, I trust that you’ll work to help him execute on his promise.
    Americans don’t pick winners and losers based on the color of their skin, their sex or the name of their God.
    Ms. Dhillon, you’ve fought for everyone to be treated equally. You fought against colleges shutting down free speech for political reasons, against states restricting freedom of worship and against big tech companies engaged in censorship. You’ve won many victories defending freedom and our constitutional rights. If confirmed, we’ll need your continued leadership to protect the civil rights of all Americans.
    Our side of the aisle doesn’t spend much time talking about people’s personal characteristics. We care about character and merit. But in addition to your qualifications, your background makes you particularly suited to return the Justice Department to its proper role of enforcing our civil rights laws and ending discrimination.
    You’re an immigrant, a religious minority, a woman, a business owner, a civil rights leader, an accomplished lawyer, and, I’ve learned, an excellent knitter. You’re an example of what is great about America.
    Mr. Reitz, you have an impressive and dedicated career of service to our country. You attended college at Texas A&M University on an ROTC Scholarship and honorably served our country as a United States Marine, including a tour in Afghanistan.
    Upon your return from Afghanistan, you attended law school at the University of Texas, where you excelled.
    After a time in private practice, you decided to serve your country again. You clerked for the now-Chief Justice of the Texas Supreme Court. Then you ran for a seat in the Texas House of Representatives and campaigned on issues that you believed in. You continued gaining legal experience during this time in private practice.
    You eventually joined the Office of the Attorney General of Texas as Deputy Attorney General for Legal Strategy. In that role, you were involved in some of the office’s most impactful litigation during the Biden administration. You fought to secure the border, hold Big Tech accountable, protect the integrity of the ballot box and promote conservative social values.
    Today, you continue to serve Texas and your country as a member of Senator Cruz’s staff. You are currently his Chief of Staff, and I think I won’t offend my colleague when I say that this is no easy job. This is particularly true because you continue to serve in the Marine Corps Reserve, where you actively drill with your unit and hold the rank of Major. Your relentless work ethic and love of country are obvious.
    In short, the three nominees before us have impressive careers and life stories. I look forward to hearing from them today.
    With that, I’ll turn to Ranking Member Durbin for his opening remarks.
    -30-

    MIL OSI USA News –

  • MIL-OSI USA: News 02/26/2025 Blackburn, Schatz Introduce Bill to Strengthen U.S.-Taiwan Partnership, Safeguard U.S. from Communist China’s Security Threats

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)
    WASHINGTON, D.C. – U.S. Senators Marsha Blackburn (R-Tenn.) and Brian Schatz (D-Hawaii) introduced the Taiwan Travel and Tourism Coordination Act to keep Americans safer by establishing robust security screenings for those traveling to the U.S. from Asia, open new markets for American industry, and strengthen the economic partnership between the U.S. and Taiwan:  
    “Not only does the Chinese Communist Party present a threat to Taiwan, but Communist China’s campaign for global dominance also presents a clear threat to U.S. interests,” said Senator Blackburn. “We need to secure our homeland by requiring Customs and Border Protection officers to inspect those who are traveling to the U.S. from airports in Asia, and the Taiwan Travel and Tourism Coordination Act would move us one step closer to achieving enhanced security at foreign airports. This legislation would also help identify opportunities to strengthen our economic partnership with Taiwan and increase collaboration between our two countries.”
    “Taiwan is a key partner in the Indo-Pacific, and boosting our ties strengthens both Taiwan and the United States. This bill would help unlock more economic opportunities for the people of Taiwan, Hawai‘i, and our entire country,” said Senator Schatz, a member of the Senate Committee on Foreign Relations.
    BACKGROUND
    Taiwan is the United States’ vital trading partner and ally in the Indo-Pacific region and is increasingly under threat from the Chinese Communist Party (CCP). To combat this threat to our interests, we must assist our allies in stabilizing their economies and growing their national industries.
    Travel and tourism play a crucial role in a nation’s economic security, yet this sector in Taiwan faces pressure and coercion from the CCP. With strategic efforts proposed in this bill, the United States and Taiwan can turn these challenges into opportunities to strengthen our relations and our tourism industries.
    The CCP’s campaign for global dominance presents a clear threat to both Taiwan and U.S. interests as well. To secure our homeland, we must establish “pre-clearance” facilities in Asia. Pre-clearance is the strategic stationing of Customs and Border Protection personnel at designated foreign airports to inspect travelers prior to boarding U.S.-bound flights, and it is incredibly important to enhance security, increase collaboration, and streamline travel. Notably, there is no pre-clearance facility in Asia, despite there being an annual average of over 4 million travelers from the continent.
    TAIWAN TRAVEL AND TOURISM COORDINATION ACT
    Specifically, the Taiwan Travel and Tourism Coordination Act would require the federal government to:
    Identify opportunities for enhanced travel between the U.S. and Taiwan;
    Facilitate events and coordination between the travel and tourism industry partners in the United States and Taiwan;
    Coordinate with Taiwan and other agencies on the safety and security of international visitors both at home and abroad; and
    Conduct a feasibility study on establishing a pre-clearance facility in Taiwan. 
    Click here for bill text.

    MIL OSI USA News –

  • MIL-OSI United Nations: Greatest threat to UN Peacekeeping is divisions between nations, says UN Peace Operations Chief

    Source: United Nations 2

    The two-day event was an opportunity to highlight the importance of women in peacekeeping, and delegates also discussed the current challenges to peacekeeping, and how the UN and Member States can work together to adapt to the new realities of today’s geopolitical landscape.

    This interview has been edited for clarity and length

    UN News: What is the biggest threat to peacekeeping in the next 20 years, and how can we prepare for it today?

    Jean-Pierre Lacroix: The biggest challenge is divisions between our member states, because we rely on their strong and united political support.

    Unfortunately, that unity is less certain today. When they encounter challenges and difficulties existing peacekeeping missions cannot always count on strong and united support from Member States, including host governments.

    Another critical point is that peacekeeping operations are deployed to support political efforts. But for those political efforts to succeed, we need a united, committed, and strong international community.

    The nature of conflicts has evolved. There are more non-state actors, including private security companies. The drivers of conflicts are increasingly transnational, whether they are terrorism, organized crime, or the impact of climate change.

    Although we cannot control the level of unity among our Member States, we must work on addressing the evolving nature of conflicts and improving our ability to respond effectively.

    UN India/ Shachi Chaturvedi

    The Under-Secretary-General for Peace Operations (USG DPO, Jean-Pierre Lacroix takes a look at the ‘Make in India’ exhibition on the sidelines of the conference.

    UN News: How can peacekeeping stay ahead of the threats posed new technology, such as AI, cyber attacks and drones?

    Jean-Pierre Lacroix: That is a critical objective, and the reason we have launched a strategy for the digital transformation of peacekeeping, which aims to improve situational awareness, enhance the safety and security of our peacekeepers and counter misinformation, which is currently being weaponized in many peacekeeping settings.

    However, to achieve this we need to improve digital literacy among our staff, which will require significant efforts in terms of training and enhancing their level of preparedness. We cannot do that alone as the UN Secretariat, we need to work with our partners.

    UN News: From frontlines to leadership roles, what do you think would it take for women to be the face of UN peacekeeping?

    Jean-Pierre Lacroix: We are doing better when it comes to the number of women serving in peacekeeping, and the proportion of women has been constantly improving.

    However, we want to have more female officers in senior positions, such as Force Commander and Deputy Force Commander. Not many armed forces have women at this kind of level, but India is doing a lot to achieve that and is providing more female officers.

    We also have to look at how we make the peacekeeping environment welcoming for both women and men. This includes practical issues such as facilities, and a lot of effort is being made to improve the quality of our camps and their suitability for women as well as for men.

    © UN Photo/ Gema Cortes

    Captain Sandra Hernandez Vega (right) in Timbuktu, Mali (file)

    There is also a psychological dimension to this, ensuring that all peacekeepers, men and women, do their best to make the work environment welcoming to all, and certainly to women. We are working on this, but I think it’s also a shared responsibility that we have with the troop- and police-contributing countries.

    UN News: How can we improve the advancement of women in peacekeeping?

    Jean-Pierre Lacroix: First of all, it is UN policy to empower women. Having more female peacekeepers generates a better work environment and they become role models for other women. I believe that we have a better record of conduct and discipline when we have more women in peacekeeping.

    It’s particularly important to have more women in peacekeeping when it comes to building trust with communities, and that is something that has been regularly emphasized.

    However, their role is not limited to community engagement. For example, we have female officers who are helicopter pilots and basically every task that we have in peacekeeping is open to women as well as to men.

    UN News: How do you think the countries of the Global South can play a more active role in peacekeeping?

    Jean-Pierre Lacroix: The majority of the peacekeepers that we deploy come from the Global South, including India, which is one of the biggest contributors. Their role is critically important, not only in terms of numbers but also in other areas.

    India, for example, is helping with all efforts currently being carried out to improve peacekeeping, from safety and security to how we use digital technology. Of course, this includes improving the number of women in peacekeeping, enhancing how performance assessments are carried out, and other areas.

    I think there is a wealth of experience in the Global South which we really want to take advantage of so that we continue to adapt and address current challenges: we need to make sure that tomorrow’s peacekeeping operations remain relevant.

    MIL OSI United Nations News –

  • MIL-OSI Canada: W̱SÁNEĆ Leadership Council, B.C. and Canada advance reconciliation with statement

    Source: Government of Canada regional news

    From Crown-Indigenous Relations and Northern Affairs Canada: https://www.canada.ca/en/crown-indigenous-relations-northern-affairs/news/2025/02/history-made-as-eitkenist-i-sewalnonet-sci-a-joint-statement-by-the-wsanec-chiefs-of-tsartlip-tseycum-first-nations-the-minister-of-crown-indigenou.html

    The Government of Canada, the province of British Columbia, and the Tsartlip and Tseycum First Nations – have signed the ŦE,ITḴEN,IST I SȽEW̱ÁL,NOṈET SĆȺ,Í, a joint statement that’s name translates to ‘Moving Forward and Speaking the Truth and Peace of Mind at Last’.

    The Joint Statement is the first time Canada and British Columbia have formally recognized that the W̱SÁNEĆ Nation – which includes but is not limited to the Tsartlip and Tseycum First Nations – is the beneficiary of and successor to the North Saanich and South Saanich Treaties of 1852.

    It acknowledges there are differing perspectives, a written and oral version of the North and South Saanich Treaties, and that a lack of government recognition and understanding of W̱SÁNEĆ’s oral history and W̱SÁNEĆ’s view of the spirit and intent of the North Saanich and South Saanich Treaties resulted in negative impacts. This statement is a first step on the path to healing, lasting reconciliation, and renewal.

    Quotes:

    “Today’s joint statement is a long overdue acknowledgment of W̱SÁNEĆ oral history and sacred rights and obligations to the territory we have lived on since time immemorial. By working to understand the Treaties through the lens of W̱SÁNEĆ worldview, B.C. and Canada are at last taking meaningful first steps to true reconciliation, paving the way for new opportunities and a better quality of life for our families and future generations.”

    – Chief Don Tom, Tsartlip First Nation

    “Today marks an important step forward in our shared journey of truth-telling and reconciliation. In signing this Joint Statement, we are laying the foundation for a better relationship with the Crown, one based in recognition. In the past, our communities have faced difficulties having the Crown recognize us as beneficiaries of the North and South Saanich Treaties and this has prevented progress and growth. This Joint Statement sets that right. It means that we will not face that fundamental issue anymore, and we can get on with the reconciliation work we all need to be doing, building a better future for our children and all future generations of W̱SÁNEĆ.”

    – Chief Tanya Jimmy, Tseycum First Nation

    “This co-developed Joint Statement with the Tsartlip and Tseycum First Nations and the Government of B.C. is a historic milestone in our shared journey toward reconciliation. Through this Statement we have set the stage for meaningful discussions and collaborative work to reconcile differing views, build understanding, and achieve shared solutions together that are based on respect for rights and true partnership. This has been years in the making and fulfills the promise that the First Nations have been waiting to be fulfilled for generations.”

    – The Honourable Gary Anandasangaree, Minister of Crown-Indigenous Relations

    “This statement is the result of a unique collaboration between the Tsartlip and Tseycum First Nations, B.C. and Canada that recognizes the special treaty relationship created by the North Saanich and South Treaties of 1852. Acknowledging our histories and honouring the spirit and intent of these treaties will help us work together for a stronger and better future for the W̱SÁNEĆ and all British Columbians.”

    – The Honourable Christine Boyle, B.C. Minister of Indigenous Relations and Reconciliation

    Learn More:

    The Agreement is available here: wsanec_joint_statement_2025-02-25.pdf

    MIL OSI Canada News –

  • MIL-OSI Security: Kokomo Woman Ordered by Federal Court to Repay over $200,000 in Stolen Retirement Benefits from Deceased Husband’s Account

    Source: Office of United States Attorneys

    INDIANAPOLIS— Rebecca Fields, 70, of Kokomo, has been sentenced to three years’ probation after pleading guilty to making a false statement to illegally receive Social Security benefits. Fields has also been ordered to pay $231,203.10 in restitution.

    According to court documents, beginning around July 1985, Rebecca Fields’ husband, “L.F.” began receiving Social Security retirement benefits. On December 4, 2002, Rebecca requested to be added as L.F.’s representative payee, which the Social Security Administration (SSA) ultimately approved.

    When a qualified retirement beneficiary lacks the capacity to manage his or her own benefits, the SSA may approve a “representative payee” to receive the beneficiary’s benefits and to use them for the beneficiary. In such an instance, the SSA requires the representative payee to annually certify a continuing relationship with the beneficiary and how the representative used the beneficiary’s program benefits on his or her behalf.

    On April 10, 2006, L.F. died. Nonetheless, not only did Fields fail to report that fact to the SSA, but she also completed at least 13 Representative Payee Reports between 2007 and 2022 on which she falsely claimed that L.F continued to live with her. These reports also contained false claims that she had spent his retirement benefits on his behalf to maintain his health and well-being. The lies were aimed at deceiving the SSA into continuing to pay her money that she was not owed. As a result, Rebecca Fields received approximately $231,203.10 in L.F.’s social security benefits- of which she was not entitled after he passed away.

    “For over a decade, Fields brazenly stole not only from the United States government, but also indirectly from taxpayers who diligently pay into the Social Security retirement fund. Fields’ conduct also indirectly preyed on the vulnerable, elderly beneficiaries who ultimately depend on the program’s payments upon their retirement from the workforce,” said John E. Childress, Acting U.S. Attorney for the Southern District of Indiana. “This sentence should serve as a stark warning to potential fraudsters who may believe they can cheat the system- you will pay the price.”

    The Social Security Administration, Office of Inspector General, investigated this case. The sentence was imposed by U.S. District Judge James P. Hanlon.

    Acting U.S. Attorney Childress thanked Assistant U.S. Attorney Corbin D. Houston, who prosecuted this case.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Check Fraudster Sentenced to Federal Prison

    Source: Office of United States Attorneys

    Memphis, TN – Kenyata Wilson, 36, of Memphis, has been sentenced to federal prison for leading a check fraud ring in Memphis from 2022 to 2023.  Reagan Fondren, Acting United States Attorney for the Western District of Tennessee, announced the sentence today.

    According to information presented in court, between May 2022 and February 2023, Wilson obtained stolen checks and deposited them into the bank accounts of his co-conspirators.  His co-conspirators would transfer most of the funds back to Wilson and retain a small portion as their payment. Wilson was seen in surveillance footage at different ATM locations in Memphis depositing the stolen checks into an account used to receive the stolen funds. Wilson was responsible for passing over $42,000 in stolen checks.

    On November 18, 2024, Wilson pled guilty before United States District Judge Thomas L. Parker to one count of conspiracy to commit bank fraud and eleven counts of bank fraud.  He was sentenced on February 20, 2025 to 24 months in federal prison, to be followed by four years of supervised release.  There is no parole in the federal system.

    This case was investigated by the Federal Bureau of Investigation, Nashville Field Office, Memphis Resident Agency.

    Acting United States Attorney Fondren thanked Assistant United States Attorney William Bateman, who prosecuted this case on behalf of the government, and the law enforcement partners who assisted in the investigation of the case.

    ###

    For more information, please contact the Media Relations Team at USATNW.Media@usdoj.gov. Follow the U.S. Attorney’s Office on Facebook or on X at @WDTNNews for office news and updates.

    MIL Security OSI –

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

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

    RomarioIen/Shutterstock

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

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

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

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

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

    Natural doesn’t mean risk free

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

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

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

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

    Beauty salon safety

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

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

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

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

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

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

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

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

    MIL OSI – Global Reports –

  • MIL-OSI USA: Governor Polis, The Department of Natural Resources, Colorado Strategic Wildfire Action Program invests $8.4 million in 19 New Wildfire Mitigation Projects

    Source: US State of Colorado

    DENVER – Today, Governor Polis and the Colorado Department of Natural Resources (DNR) announced today $8.4 million through the Colorado Strategic Wildfire Action Program (COSWAP), which accelerates forest restoration and wildfire risk reduction through targeted projects that protect communities, watersheds and critical infrastructure. 

    This round includes 14 Workforce Development Grants to treat 1,045 acres of forested land and train over 150 wildfire mitigation individuals, and five Landscape Resilience Investments in partnership with the Colorado Water Conservation Board’s Wildfire Ready Watersheds program to strategically support wildfire risk reduction and critical water infrastructure protection in high priority watersheds in targeted counties including in Garfield, Grand, Boulder, Jackson and Montezuma. 

    “Here in Colorado, no matter what happens in Washington DC, we are aggressively expanding fire prevention strategies that work, and that includes the Colorado Strategic Wildfire Action Program. This critical funding supports wildfire mitigation efforts across the state and helps Coloradans gain skills, and earn hands-on experience to become the next generation of well-equipped Colorado foresters,” said Governor Polis. 

    “This year, I am pleased we are able to provide significant new funding for on the ground hand crews and training and significant landscape scale projects to a wider range of Colorado communities for forest mitigation and watershed protection work,” said Dan Gibbs, Executive Director, Colorado Department of Natural Resources. Dan Gibbs. “Our COSWAP program rose up out of the devastating 2020 wildfire season and I am proud of the growth and innovation the program has shown. It provides essential on the ground funding to help protect lives, property and critical infrastructure while helping our communities become more resilient in the face of larger, more complex wildfires.” 

    COSWAP’s Workforce Development Grant is designed to reduce wildfire risk through entry-level training opportunities and hands-on experience. The mission of this program is strengthened by COSWAP’s partners at the Colorado Youth Corps Association (CYCA) and Department of Corrections’ State Wildland Inmate Fire Teams (DOC SWIFT) who offer the next generation of land stewards the skills, experience and career exposure to succeed in wildfire mitigation and forestry. Lt. Governor Dianne Primavera has been a leader in securing investments for CYCA and creating avenues so AmeriCorps members can gain skills to help better lead mitigation efforts in Colorado. 

    In this round of Workforce Development Grants, CYCA crews including Larimer County Conservation Corps, Rocky Mountain Youth Corps, Mile High Youth Corps and Southwest Conservation Corps received awards to complete six wildfire mitigation projects. Similarly, the DOC SWIFT crews will work on three projects. The remaining five workforce development awards will go towards training individuals in basic wildland firefighting and chainsaw operations. 

    “COSWAP is a transformational program in Colorado. Not only does it protect the lives and livelihoods of millions of Coloradans, it also unites people through service to their communities. This investment will develop the next generation of wildland firefighters, provide a pathway to the next chapter of service for the women and men of the National Guard, and bring a sense of purpose and accomplishment to conservation corps members. It represents the best of government, allocating resources to proven, impactful solutions,” said Scott Segerstrom, Executive Director, Colorado Youth Corps Association. 

    “The Pueblo Fire Department has obtained this grant funding every year since 2022, and it has had a significant positive effect on the spread of fire in those areas. The City of Pueblo cannot express how much we appreciate being awarded this grant for three years in a row continuing into 2025 and how much it increases the safety of our citizens,” said Deputy Fire Chief Kieth Novak from the City of Pueblo Fire Department. “The COSWAP grant has benefited the City of Pueblo, working with the Pueblo Fire Department and the City of Pueblo Parks Department, to mitigate wildland fire risks along the north Fountain River as well as multiple areas of the Arkansas River through the City of Pueblo by clearing areas along the rivers of underbrush, trees and other plants to make the area more accessible when there is a fire, as well as decreasing the possibility of fire spread by creating fire breaks and ground clearing. The work these crews do has significantly decreased the hazard risk associated with fire spread to homes around the rivers.” 

    This year, the Colorado Strategic Wildfire Action Program is proud to support Serve Colorado and Colorado National Guard in their pilot project working with the Rocky Mountain Youth Corps in the Medicine Bow-Routt National Forest. Although this project is located outside of COSWAP’s Strategic Focus Areas, it was a unique opportunity to leverage two service-oriented entities that provide workforce development for their members as well as wildfire mitigation benefits for the community. 

    “Members of the Colorado National Guard make up a population that are dedicated to serving their state and nation. By partnering with AmeriCorps to develop workforce pathways for National Guard personnel into the public sector, we as a nation receive substantial returns on our investments from multiple levels of government. Through this program, our part-time service members receive financial stability – building our military readiness-, our communities benefit from the military training those service members have already received, and our military forces benefit from well rounded service members who are able to bring the skills they’ve gained in AmeriCorps to the warfight. This partnership is a perfect example of government efficiency and maximizes the return on investment for American tax dollars, all while ensuring our local communities and service members are more prepared for whatever the future throws at them,” said Major General Laura Clellan. 

    COSWAP’s Landscape Resilience Investments focus on large-scale, cross-boundary fuels reduction projects. This year, COSWAP launched a special release of this funding opportunity in partnership with the Colorado Water Conservation Board’s Wildfire Ready Watersheds program. 

    Through this special release, awardees will implement wildfire risk reduction projects that protect critical water infrastructure within high priority watersheds. COSWAP distributed $4,850,000 between the City of Boulder, City of Fort Collins, City of Glenwood Springs, Grand Fire Protection District and Mancos Conservation District to treat a combined 1,313 acres over the next three years. 

    All five recipients of the Landscape Resilience Investment are also developing a Wildfire Ready Action Plan to assess the potential impacts of wildfire on community infrastructure, and advance a framework for their community to plan and implement mitigation strategies to minimize these impacts before wildfires occur. 

    “The Wildfire Ready Watersheds program is designed to help communities understand and mitigate the risks that post-wildfire hazards, e.g. floods and debris flows, pose to their lives, property, water supplies, and other infrastructure. By integrating this work with COSWAP’s Landscape Resilience Investments, we’re ensuring that wildfire mitigation efforts not only protect homes and infrastructure but also safeguard the watersheds that sustain our communities,” said Chris Sturm, Watershed Program Director, Colorado Water Conservation Board. “These grants set our partners up for success by combining strategic planning with on-the-ground action, helping Colorado build more resilient landscapes and water systems before the next wildfire strikes.” 

    COSWAP’s special release leverages a vital partnership to integrate both forest and watershed health. For example, the City of Glenwood Springs and Grand Fire Protection District projects are both located in high wildfire risk areas as well as high priority watersheds that drain into the Colorado River. Ultimately, supporting projects that integrate forest and watershed health will promote long-term ecological resilience. 

    Through Senate Bill 21-258, COSWAP has invested $25.4 million into its Landscape Resilience Investment program, as well as $13.8 million towards its Workforce Development program. COSWAP releases Workforce Development Grant opportunities every year, while Landscape Resilience Investments are typically every other year, with about $5 million available annually. To see a full list of Workforce Development and Landscape Resilience Investment grants please see the Colorado Strategic Wildfire Action Program website. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: South Carolina Attorney General Alan Wilson backs Trump executive order ending federal funding for gender transitions for kidsRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson announced today he’s joined a 23-state coalition filing a friend-of-the-court brief supporting President Trump’s Executive Order, Protecting Children from Chemical and Surgical Mutilation. 

    “South Carolina stands with President Trump to protect our children from irreversible medical procedures driven more by politics than science,” said Attorney General Wilson. “The evidence is clear: WPATH’s so-called ‘Standards of Care’ are not the gold standard they claim to be. They were crafted to push a legal and political agenda, not to reflect sound medical practice. We cannot allow federal funds to support turning our children into guinea pigs for the Left’s political agenda.”  

    This order prohibits the use of federal dollars going towards gender transitioning procedures for minors, a policy now being challenged in the U.S. District Court for the District of Maryland. The brief supported by South Carolina urges the court to uphold the executive order by rejecting claims that rely on flawed and politically charged medical guidelines from the World Professional Association for Transgender Health (WPATH). 

    The amicus brief argues that WPATH’s Standards of Care Version 8 lacks scientific integrity. Key points include: 

    • WPATH tailored its guidelines to advance political and legal goals, including influencing lawsuits, rather than adhering to evidence-based medicine.
    • Political pressure, notably from former Assistant Secretary for Health Admiral Rachel Levine and the American Academy of Pediatrics, led WPATH to alter treatment recommendations, such as removing age minimums for procedures, without scientific justification.
    • WPATH failed to manage conflicts of interest among its authors, suppressed systematic evidence reviews showing little support for pediatric interventions, and misused the GRADE framework to issue strong recommendations despite weak evidence.

    The coalition includes attorneys general from Alabama, Alaska, Arkansas, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, Virginia, West Virginia, and Arizona legislative leaders. 

    Attorney General Wilson and his counterparts urge the court to deny the plaintiffs’ request for a preliminary injunction, affirming the executive order as a necessary protection for America’s youth. 

    The full brief is available for review here.  

    MIL OSI USA News –

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

    Source: GlobeNewswire (MIL-OSI)

          

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

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

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

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

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

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

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

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

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

    Very active investment activity & capital allocation

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

    Strong financial structure and committed to remain Investment Grade

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

    Reappointment of Wendel’s Executive Board

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Wendel’s Principal Investments’ portfolio rotation

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

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

    Wendel’s Asset Management platform evolution

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

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

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

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

    Third Party Asset Management value creation and performance

    2024 performance

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

    Sponsor money invested by Wendel

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

    Principal Investment companies’ value creation and performance

    Figures post IFRS 16 unless otherwise specified.

    Listed Assets: 36% of Gross Asset Value

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

    (full consolidation)

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

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

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

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

    2025 outlook

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

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

    For further details: group.bureauveritas.com

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

    Tarkett reported its annual results on February 20, 2025

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

    Unlisted Assets: 34% of Gross Asset Value

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

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

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

    (Full consolidation) 

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

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

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

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

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

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

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

    (Full consolidation)

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

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

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

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

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

    (full consolidation)

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

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

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

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

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

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

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

    (Full consolidation since July 2023.)  

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

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

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

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

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

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

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

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

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

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

    Consolidated Accounts

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

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

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

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

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

    ESG achievements

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

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

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

    New ESG roadmap 2024-2027

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

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

    Renewal of the Executive Board of Wendel

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

    Renewal of the appointments of members of the Supervisory Board

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

    Agenda

    Thursday, April 24, 2025

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

    Thursday, May 15, 2025

    Annual General Meeting

    Wednesday, July 30, 2025

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

    Thursday, October 23, 2025

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

    Wednesday, December 10, 2025

    2025 Investor Day.

    About Wendel

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

    Wendel is listed on Eurolist by Euronext Paris.

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

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

    For more information: wendelgroup.com

    Follow us on LinkedIn @Wendel 

    Appendix 1: 2024 Consolidated sales and results

    2024 consolidated net sales

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

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

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

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

    (4) Contribution of eight months of sales        

    2024 net sales of equity-accounted companies

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

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

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

    2024 consolidated results

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

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

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

    2024 net income from operations

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

    Appendix 2: Fully diluted Net Asset Value bridge over 2024

    Appendix 3: Conversion from accounting presentation to economic presentation

    Please refer to table 7.1 of the consolidated statements.

    Appendix 4: Glossary

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

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

    2 Fully diluted of share buybacks and treasury shares.

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

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

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

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

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

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

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

    13 Commitments not yet invested

    14 Fee Paying AuM

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

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

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

    18 Leverage as per credit documentation definition.

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

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

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

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

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

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

    25 As per credit documentation (pre IFRS 16)

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

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

    28 As per credit documentation definition.

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

    Attachment

    The MIL Network –

  • MIL-OSI Global: Theatre’s thriving horror revival reflects a cultural moment of collective anxiety

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

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

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

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

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI – Global Reports –

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

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

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

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

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

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

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

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

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

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

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

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

    Trump’s deal with the Taliban

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI – Global Reports –

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    The technological transition

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI – Global Reports –

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

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

    hanohiki/Shutterstock

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

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

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

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

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

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

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

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

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

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

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

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

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

    A path forward

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

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

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

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

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

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

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

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

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

    MIL OSI – Global Reports –

  • MIL-OSI Video: Beyond Crisis: Unlocking Europe’s Potential | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Two recent landmark reports on the European Union’s economy paint an unforgiving picture of its vulnerabilities, suggesting the region faces the prospect of “slow agony”. At current productivity and demographic trends, Europe’s economic output is forecast to be the same in 2050 as it is today.

    With much of the power to correct course residing in national capitals, what will it take for leaders to rise to the challenge?

    Speakers: Nicolas Hieronimus, Roula Khalaf, Robert Habeck, Belen Garijo, Christine Lagarde

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
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    Instagram ► https://www.instagram.com/worldeconomicforum/
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    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=VqghCwdxqHo

    MIL OSI Video –

  • MIL-OSI United Nations: Upcoming Financing for Development Conference ‘Perhaps Last’ Chance for Real Commitments, Deputy Secretary-General Tells Summit

    Source: United Nations General Assembly and Security Council

    Following is UN Deputy Secretary-General Amina Mohammed’s message for the opening of the Finance in Common Summit, held in Cape Town, South Africa, today:

    I thank Remy Rioux and Adama Mariko from Finance in Common’s leadership, and this event’s co-hosts, the Development Bank of Southern Africa and the Asian Infrastructure Investment Bank, for bringing us together.

    The world is dangerously off track in achieving the Sustainable Development Goals (SDGs).  While we have made progress on many aspects of our development agenda, we have also faced multiple setbacks, including the pandemic, new conflicts, slowing global growth and escalating borrowing costs.

    Looking ahead, accelerating climate impacts, crushing debt burdens, and the spectre of escalating trade and geopolitical tensions are darkening the horizon.  The only way out of this storm is financing.

    But, right now, developing countries are unable to mobilize SDG investments in the face of debt overhangs, capital flight, climate risks and illicit financial flows that bleed their economies dry.  Even official development assistance (ODA), which has long provided a minimum safety net, is now under threat.

    The fourth International Conference on Financing for Development in Sevilla in July will be a pivotal moment to renew the global financing framework and redouble our collective efforts to achieve the 2030 Agenda [for Sustainable Development].  It presents a significant, and perhaps the last, opportunity before 2030 for real financial commitments to turn aspirations into actions.

    Addressing the sustainable development crisis requires two essential changes — both of which require the work of the institutions here at the Financing in Common Summit.

    The first change is a massive investment push.  The now-adopted Pact for the Future called for a massive financial stimulus to help developing countries invest in sustainable development.

    This push must be publicly led, but designed to leverage private investment and innovation.  It must work to mobilize capital at low cost.  And it must focus on transformative investments that can yield the greatest impact. Public development banks are integral to meeting this challenge.

    Doing so requires good governance, careful risk management and effective, independent management.  Development banks also need clear direction from policymakers to align their operations with the 2030 Agenda.

    The second change is reforming the international financial architecture.  This was another key commitment in the Pact for the Future.  The existing architecture was crafted 80 years ago when many countries were still under colonial rule.

    It’s high time for change.  This system needs to be fit for purpose in today’s world, which means putting developing countries squarely in the driver’s seat.  The elevation of public development banks is a critical part of this change.

    National banks are best placed to source projects and work with Governments to develop project pipelines that align with country priorities.  MDB [Multilateral development bank] financing, co-financing and working with national development banks can all combine to expand developing country ownership and improve the efficiency of the international system.

    The fourth International Conference on Financing for Development is uniquely placed to support this agenda.  The zero draft of the Conference’s outcome document already contains ambitious proposals related to public development banks.  While Member States will ultimately decide how to proceed, I urge you to support them.

    Across this work and more, your engagement with the Financing for Development process will help ensure the Conference has political traction and the best chance of success.  I wish you a successful Summit this week and hope to see you again in Sevilla.

    MIL OSI United Nations News –

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

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK sets out biodiversity commitments to protect nature

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

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

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

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

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

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

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

    Nature Minister Mary Creagh said:

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

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

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

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

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

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

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

    Natural England Chair Tony Juniper said:

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

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

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

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

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

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

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

    Additional information:

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

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

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

    Updates to this page

    Published 26 February 2025

    MIL OSI United Kingdom –

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

    Source: Channel Islands – Jersey

    26 February 2025

    ​​

    Vision for The Lido 

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

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

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

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

    Next Steps 

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

    MIL OSI United Kingdom –

  • MIL-OSI Video: Rethinking Obesity Care | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Global levels of obesity continue to rise rapidly, with over 1 billion people affected today and projected to double by 2030.

    What is the projected impact of obesity on health and the economy and what new approaches exist to address this growing public health challenge?

    Speakers: Pranjal Sharma, Camilla Sylvest, Sean Duffy

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
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    https://www.youtube.com/watch?v=FQnpC0yIsU0

    MIL OSI Video –

  • MIL-OSI Video: Mind Matters: Mental Health at Work | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Globally, an estimated 12 billion working days are lost every year to depression and anxiety at a cost of $1 trillion a year in lost productivity. In a post-pandemic world, supporting mental health in the workplace is more critical than ever.

    This session explores practical tools and strategies for creating a supportive workplace culture, reducing stigma and fostering mental well-being among workers.

    Speakers: Bill Ready, Christy Hoffman, Stephen P. MacMillan, David Rhodes, Pakishe Aaron Motsoaledi

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
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    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=_xwD12UkVwI

    MIL OSI Video –

  • MIL-OSI USA: Hawley Reintroduces Bill Blocking Agencies from Partnering with Pro-CCP Consulting Firms

    US Senate News:

    Source: United States Senator Josh Hawley (R-Mo)

    Wednesday, February 26, 2025

     Today, U.S. Senator Josh Hawley (R-Mo.) reintroduced his legislation to prohibit the Department of Defense and other federal agencies from contracting with consulting firms, like McKinsey & Company, which provides services to the Chinese government or its affiliates while being contracted by the United States government. The Time to Choose Act would force these firms to choose whether to stand with the U.S. in its efforts to protect America against China’s global ambitions, or forfeit U.S. government contracts entirely.

    This bipartisan legislation passed the Senate Homeland Security and Governmental Affairs Committee with strong bipartisan support in the 118th Congress. Senator Gary Peters (D-Mich.) and Senator Rick Scott (R-Fla.) are both original cosponsors. 

    “For too long, these companies have basked in the financial security of government contracts while actively undermining our own national security,” said Senator Hawley. “It is unconscionable that we’ve allowed them to sell us out to the Chinese Communist Party by advancing their agenda rather than putting America’s interests first. My bill would bring that to an end.” 

    “The Chinese Communist Party is actively working to undermine our country at every turn,” said Senator Peters. “This commonsense, bipartisan bill would prohibit companies that are providing consulting services to the Chinese government from receiving highly competitive government contracts, paid for by American taxpayers, to protect both our national security and our competitive edge in the global economy.”

    “Any firm who wants to help, support or represent Communist China’s best interests clearly is choosing to work against America’s best interests and choosing to forfeit access to federal tax dollars. It’s a clear conflict of interest,” said Senator Scott. “The Chinese Communist Party is one of our greatest adversaries, hellbent on destroying our way of life, crippling our industries and spying on our citizens. Our bill, the Time to Choose Act, requires firms to make a choice: support the freedom-loving United States or support the regime in Communist China. There’s no in between.”

    The Time to Choose Act would:

    • Prohibit federal agencies from contracting with consulting firms that hold a contract with the Chinese government and other foreign adversaries.
    • Impose penalties on consulting firms that intentionally hide or misrepresent contracts with the Chinese government and other foreign adversaries, including:
      • Terminating affected federal contracts.
      • Debarring relevant firms from future work with the federal government.
      • Requiring relevant firms to pay damages equivalent to three times the amount spent by the U.S. government on the contracts.

    Read the full bill text here.

    MIL OSI USA News –

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

    Source: United Kingdom – Executive Government & Departments

    Speech

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

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

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

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

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

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

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

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

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

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

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

    Updates to this page

    Published 26 February 2025

    Invasion of Ukraine

    MIL OSI United Kingdom –

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

    Source: World Food Programme

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

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

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

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

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

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

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

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

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

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

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

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

    #                       #                       #

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

     

    Follow us on Twitter @WFP_Egypt 

    And on Instagram @WFP_Egypt 

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

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Deputy Secretary-General’s remarks to the opening of the Finance in Common Summit 2025 [as prepared for delivery]

    Source: United Nations secretary general

    Excellencies, Distinguished guests,

    I thank Remy Rioux and Adama Mariko from Finance in Common’s leadership, and this event’s co-hosts, the Development Bank of Southern Africa and the Asian Infrastructure Investment Bank, for bringing us together.

    Excellencies,

    The world is dangerously off track in achieving the Sustainable Development Goals.

    While we have made progress on many aspects of our development agenda, we have also faced multiple setbacks, including the pandemic, new conflicts, slowing global growth, and escalating borrowing costs.

    Looking ahead, accelerating climate impacts, crushing debt burdens, and the specter of escalating trade and geopolitical tensions are darkening the horizon.

    The only way out of this storm is financing.

    But right now, developing countries are unable to mobilize SDG investments in the face of debt overhangs, capital flight, climate risks, and illicit financial flows that bleed their economies dry.

    Even official development assistance, which has long provided a minimum safety net, is now under threat.

    The Fourth International Conference on Financing for Development in Sevilla in July will be a pivotal moment to renew the global financing framework and redouble our collective efforts to achieve the 2030 Agenda.

    It presents a significant, and perhaps the last, opportunity before 2030 for real financial commitments to turn aspirations into actions.

    Addressing the sustainable development crisis requires two essential changes – both of which require the work of the institutions here at the Financing in Common Summit.

    The first change is a massive investment push.

    The now-adopted Pact for the Future called for a massive financial stimulus to help developing countries invest in sustainable development.

    This push must be publicly-led but designed to leverage private investment and innovation. It must work to mobilize capital at low cost. And it must focus on transformative investments that can yield the greatest impact.

    Public development banks are integral to meeting this challenge.

    Doing so requires good governance, careful risk management, and effective, independent management.

    Development banks also need clear direction from policymakers to align their operations with the 2030 Agenda.

    The second change is reforming the international financial architecture.

    This was another key commitment in the Pact for the Future.

    The existing architecture was crafted 80 years ago when many countries were still under colonial rule.

    It’s high time for change.

    This system needs to be fit for purpose in today’s world, which means putting developing countries squarely in the driver’s seat.

    The elevation of public development banks is a critical part of this change.

    National banks are best placed to source projects and work with governments to develop project pipelines that align with country priorities.

    MDB financing, co-financing, and working with national development banks can all combine to expand developing country ownership and improve the efficiency of the international system.

    The Fourth International Conference on Financing for Development is uniquely placed to support this agenda.

    The zero draft of the conference’s outcome document already contains ambitious proposals related to public development banks. While Member States will ultimately decide how to proceed, I urge you to support them.

    Excellencies,

    Across this work and more, your engagement with the FfD process will help ensure the Conference has political traction and the best chance of success.

    I wish you a successful Summit this week and hope to see you again in Sevilla.

    Thank you.
     

    MIL OSI United Nations News –

  • MIL-OSI Africa: CORRECTION: Ghana’s Mining in Motion Summit Gains Support from Key Leaders

    Source: Africa Press Organisation – English (2) – Report:

    ACCRA, Ghana, February 26, 2025/APO Group/ —

    Otumfuo Osei Tutu II, King of the Ashanti Kingdom; Hon. Emmanuel Armah Kofi Buah, Minister of Lands and Natural Resources of Ghana; and Oheneba Kwaku Duah, the son of Otumfuo Osei Tutu II and Managing Director of the Ashanti Green Initiative recently met to discuss the upcoming Mining in Motion Summit in Ghana.

    They explored the summit’s potential to improve the artisanal and small-scale gold mining (ASGM) sector in Ghana and the role of government, international partners and major mining firms in accelerating the sector’s growth. Hon. Kofi Buah endorsed the event, emphasizing its significance in connecting small-scale miners with technology providers, financiers, regulatory bodies and global industry stakeholders to improve their operations and impact.

    Organized by the Ashanti Green Initiative along with the World Bank, the World Gold Council and other international partners, Mining in Motion will take place from June 2 – 4 in Accra.

    The summit is held under the theme Sustainable Mining & Local Growth – Leveraging Resources for Global Impact, uniting key decision-makers, including H.E. John Dramani Mahama, President of the Republic of Ghana, as well as representatives from public and private sector mining institutions from South Africa, the Republic of Guinea, the African Union, ECOWAS and the United Nations.

    The three-day event will highlight the role of traditional authorities in shaping artisanal and small-scale mining practices, emphasizing the sector’s contribution to employment and economic growth. In 2024 alone, Ghana’s artisanal miners generated $5 billion in foreign exchange earnings through gold exports. Providing direct employment for over one million Ghanaians and accounting for 35% of domestic gold output, the sector has the potential to significantly shape socioeconomic development in the west African country.

    As Ghana’s mining sector increasingly supports sustainable development, the Mining in Motion Summit will highlight best practices for integrating ASGM into the global financial system. Representatives from prominent international financing organizations will share their insights.

    In a significant move to boost earnings for small-scale miners, Ghana has announced plans to establish a Gold Board. This new entity will simplify the process of purchasing gold from small-scale miners, providing them with easier access to global markets. With Samuel Adu Gyamfi, who was appointed Acting Managing Director of Precious Minerals Marketing Company last month and tasked with setting up the Ghana Gold Board, playing a pivotal role in shaping the summit, Mining in Motion is set to have a sizable impact on the growth of Ghana’s gold sector.

    Through a series of high-level panel discussions, deal signings, project showcases and exclusive networking, Mining in Motion serves as the ideal platform to connect Ghanaian miners with regional counterparts and global investors for forge industry-changing partnerships.

    Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting ASGM and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting https://MiningInMotionSummit.com/. For sponsorship opportunities or delegate participation, contact sales@ashantigreeninitiative.org.

    MIL OSI Africa –

  • MIL-OSI Global: African Union’s new chair has a long list of tough tasks – what it will take to get them done

    Source: The Conversation – Africa – By Ulf Engel, Professor, Institute of African Studies, University of Leipzig

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

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

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

    What’s the job?

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

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

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

    Their functions include:

    • chairing all meetings and deliberations of the AU Commission

    • keeping records of the deliberations of the AU Assembly, the executive council and the permanent representatives council

    • preparing the AU budget

    • acting as a depository of all AU treaties and other legal instruments

    • consulting and coordinating with the governments of member states and the regional economic communities on the activities of the AU.

    In the transition phase from the Organisation of African Unity (OAU) to the AU (1999–2002), the office of the chair was still conceived as the “head of a secretariat”. But with the expansion of the African Union Commission’s staff from roughly 600 in the early 1990s to now well over 1,700 and the growing number of substantive tasks, this concept has evolved.

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

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

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

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

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

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

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

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

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

    What are the biggest challenges?

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

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

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

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

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

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

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

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

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

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

    Are any breakthroughs possible?

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

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

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

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

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

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

    MIL OSI – Global Reports –

  • MIL-OSI Video: What’s Going on with the Weather? | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Extreme weather events are intensifying in severity and frequency and have become common phenomena globally.

    What can business do to manage and mitigate the risks and impacts?

    Speakers: Celeste Saulo, Johan Rockström, Jane Nelson

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
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    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=TBBy8sHH6YQ

    MIL OSI Video –