NewzIntel.com

Category: Politics

  • MIL-Evening Report: Resistance to mining grows in El Salvador as environmentalists’ face persecution

    Source: Council on Hemispheric Affairs – Analysis-Reportage

    Update on El Salvador

    by CISPES

    First published January 31, 2025

    Despite a unanimous October ruling in their favor, five anti-mining activists from the community of Santa Marta will be back on trial on February 3. The retrial sets a dangerous precedent, allowing the Attorney General to move a case to a different jurisdiction through an appeal in search of a guilty verdict. It also comes amidst growing resistance to a December law opening the country to metals mining which reverses a historic national ban on mining passed in 2017.

    At a January 8 press conference, supporters of the Santa Marta 5, as well as leaders of the anti-mining struggle throughout the country, denounced increased harassment and suspicious activity related to mining in the districts of Santa Marta and nearby San Isidro. Since the January 2023 arrests, the organizations have maintained that the trial against the Santa Marta 5 is related to the reactivation of mining. “We have been saying that this case is intended to weaken or eliminate opposition to mining in Cabañas, which has proven to be true with the approval of the new law,” said the University of Central America’s Andrés McKinley.

    “The mask is off,” said Vidalina Morales, president of the Santa Marta Social and Economic Development Association (ADES), who have been warning about the government’s intent to overturn the mining ban for years.

    Morales warned that unknown vehicles have begun entering the community, which is close to a former mining operation. “Our peace of mind as residents of Santa Marta is constantly being threatened by the presence of people from outside our community interrupting our privacy.

    At night there is a lot of activity in our community and we want to denounce this publicly because we [also] experienced this situation prior to the capture of our comrades.”

    The increased activity in the community, according to Morales, has stoked fears that there could be additional criminalization of activists, which could take the shape of additional members of the community being added to the February trial. Other Santa Marta residents report that the Attorney General’s office is building a case against up to 40 additional Santa Marta community members, including Vidalina Morales.

    According to ADES spokesperson Alfredo Leiva, members of the San Isidro community have reported an increased military presence in the areas previously identified by mining interests. “They are sending us the message that it is no longer the companies that are going to protect these areas, but the state, through the army… So the message to the communities is that there may be more repression– not only through judicial processes but also through direct [violent] acts.”

    The new mining law requires the Salvadoran state to operate any new mines (likely through  public-private partnerships, which are permitted under the law), opening the door to further direct confrontation between communities defending their lands and a law enforcement apparatus that has seen its budget and personnel balloon under Nayib Bukele’s government. A State of Exception that eliminates civil liberties and further empowers the police and military has also been in place since March 2022. The State of Exception has been repeatedly used to militarize organized communities, including Santa Marta, and led to the detention of Morales’s son in 2023.

    Speaking at a January 15 press conference, ADES member Peter Nataren denounced the role of the United States in supplying equipment to the Salvadoran Armed Forces. “We, as a community, have privately asked U.S. authorities on multiple occasions to please stop equipping the Salvadoran military, for example, with helicopters and drones. At this point, our only option is to make that public because we know this has now become an issue of communities defending their land on one side and the military on the other.”

    “People are not going to let their land be taken away or their water polluted. So that is going to lead to violence and the current U.S. ambassador has been equipping the Salvadoran army, which he has been doing since he arrived,” Nataren continued.

    Nataren explained that U.S. mining companies Titan Resources Limited and Thorium Energy Alliance signed an agreement with the Salvadoran government. He called on U.S. organizations to pursue the details of the agreement under U.S. law, as it has been classified as confidential for five years in El Salvador.

    Resistance to the Mining Law Grows

    Following the initial wave of protests against the mining law in December, Salvadorans have taken to the streets in greater numbers to show their opposition to the measure. A January 12 march, convened by the Popular Rebellion and Resistance Bloc (BRP) in commemoration of the 1992 Peace Accords, highlighted the member-organizations’ opposition to the mining law. The march drew thousands of participants and ended with an impromptu rally at the steps of the National Library.

    On January 19, thousands more attended a rally, also held at the National Library, convened by a new group of young Salvadorans called the Voice of the Future Movement. While the crowd was largely made up of young people, including students from the University of El Salvador, a January 22 survey by the Francisco Gavidia University revealed that only 23.5% of all Salvadorans support the new mining law.

    Rally organizers, along with the Catholic Church and student organizations have been circulating a petition of Salvadorans who oppose the mining law, which has already gathered tens of thousands of signatures. The Catholic Church, as well as leaders in the Episcopal, Lutheran, and Baptist Churches, have been outspoken against mining, with San Salvador Archbishop José Luis Escobar Alas calling it “a life or death situation.”

    According to Alfredo Leiva, in the absence of a law prohibiting metals mining, the only option left is for communities to band together. “In such a small, densely populated, and deforested country, mining is akin to suicide. Therefore, if we want to continue living in this country, we need to organize ourselves creatively because the legal instrument that we had to prohibit mining no longer exists.”

    Original article: https://cispes.org/article/resistance-mining-grows-environmentalists%E2%80%99-trial-approaches

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Padilla, Schiff, Senate Judiciary Committee Democrats Demand Answers From Trump Administration on Purging of DOJ and FBI Officials

    US Senate News:

    Source: United States Senator Alex Padilla (D-Calif.)

    Padilla, Schiff, Senate Judiciary Committee Democrats Demand Answers From Trump Administration on Purging of DOJ and FBI Officials

    WASHINGTON, D.C. — Today, U.S. Senators Alex Padilla and Adam Schiff (both D-Calif.) joined U.S. Senate Democratic Whip Dick Durbin (D-Ill.) and all other Senate Judiciary Committee Democrats in demanding answers from Trump Administration nominees and acting officials on the removal or reassignment of career law enforcement officials across the Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI).

    Last week, the Trump Administration reportedly purged dozens of DOJ and FBI officials involved in prosecuting Donald Trump and the January 6 rioters, and they are now threatening additional action against thousands of employees across the country who worked on investigations related to the attack on the Capitol. The Senators wrote to Pam Bondi, President Trump’s nominee to be the Attorney General of DOJ; Kash Patel, nominee to be the Director of the FBI; Todd Blanche, nominee to be Deputy Attorney General; Acting Attorney General James McHenry; and Acting FBI Director Brian Driscoll regarding the mass purging.

    “We have grave concerns about the removal or reassignment across the Department of Justice (DOJ) and Federal Bureau of Investigation (FBI) of senior career civil servants who have served honorably under multiple administrations, regardless of the President’s party,” wrote the Senators. “The removals and reassignments from their positions of a significant number of experienced, nonpartisan Department officials with invaluable national security expertise without any comparable replacements one day into the second Trump Administration presents an alarming threat to national security.”

    “As America faces a heightened threat landscape, these shocking removals and reassignments deprive DOJ and the FBI of experienced, senior leadership and decades of experience fighting violent crime, espionage, and terrorism,” continued the Senators. “As the FBI Agents Association stated in response to reports about the removal of FBI officials: ‘Dismissing potentially hundreds of Agents would severely weaken the Bureau’s ability to protect the country from national security and criminal threats and will ultimately risk setting up the Bureau and its new leadership for failure.’ Moreover, the firing of dozens of federal prosecutors and hundreds of agents will cripple FBI field offices and U.S. Attorney’s offices across the country. We can only assume these decisions are intended to prevent the Department from investigating national security and public corruption, while also serving as political retribution against the President’s perceived enemies and stoking fear among the dedicated and talented workforce in our nation’s premier law enforcement agency.”

    As many as 20 senior DOJ officials were reassigned or removed, including the veteran career deputy assistant attorneys general in the Department’s National Security Division.

    Over the weekend, thousands of FBI personnel across the country were asked to complete a questionnaire by today, Monday, February 3, at 3 p.m. The survey asks for their job title, whether they worked on a case related to the January 6th attack on the Capitol, “if they were involved in the arrest of a Jan. 6 suspect, if they testified at a trial, if they interviewed witnesses, if they conducted surveillance on suspects and more.” It has also been reported that the Acting FBI Director is being advised by an advisory committee comprised of partisan political operators, including an Elon Musk affiliate. This is a stark departure from the longstanding tradition that the FBI Director is the only political appointee in the Bureau.

    The purge of experienced career prosecutors and agents has recently expanded to include the removal or forced retirement of all six executive assistant directors (EADs), including the EADs who oversee the National Security Branch, Intelligence Branch, and the Criminal, Cyber, Response, and Services Branch. It also includes the assistant Directors and the Special Agents in charge of at least four major field offices. Acting Deputy Attorney General Emil Bove ordered these actions in a January 31, 2025 memo, stating, “I do not believe the current leadership of the Justice Department can trust these FBI employees to assist in implementing the President’s agenda faithfully.”

    Additionally, over a dozen senior DOJ prosecutors were fired after receiving memos from Acting Attorney General McHenry, stating “Given your significant role in prosecuting the President, I do not believe that the leadership of the Department can trust you to assist in implementing the President’s agenda faithfully.”

    The Senators emphasized that the Senate Judiciary Committee has a constitutional obligation to perform oversight over the Department and its components, and to provide advice and consent on the nominations of officers to lead it. To that end, they requested information to be returned to the committee in response to the removal of FBI and DOJ officials. They also requested answers from these individuals about their involvement. 

    In addition to Senators Padilla, Schiff, and Durbin, the letters were signed by U.S. Senators Richard Blumenthal (D-Conn.), Cory Booker (D-N.J.), Chris Coons (D-Del.), Mazie Hirono (D-Hawaii), Amy Klobuchar (D-Minn.), Peter Welch (D-Vt.), and Sheldon Whitehouse (D-R.I.).

    Full text of the letter to Attorney General nominee Pam Bondi is available here.

    Full text of the letter to FBI Director nominee Kash Patel is available here.

    Full text of the letter to Deputy Attorney General nominee Todd Blanche is available here.

    Full text of the letter to Acting Attorney General McHenry and Acting FBI Director Driscoll is available here.

    MIL OSI USA News –

  • MIL-OSI China: Sino-EU ties seen as key to global growth

    Source: China State Council Information Office

    Strengthening China-European Union economic cooperation has become crucial for worldwide economic growth, as the United States’ tariff hikes against its key trading partners have cast a shadow over the global economy, said senior trade experts and EU business executives.

    They emphasized that amid growing global trade protectionism, the Chinese and EU economies’ structural complementarity and the two sides’ upholding of free trade provide a solid basis for deeper bilateral economic and trade collaboration. They also said the US tariff increases are likely to backfire.

    Zhang Yansheng, a researcher at the Chinese Academy of Macroeconomic Research, said the EU economy has advantages in high-end manufacturing, green technology and services trade, while China excels in digital infrastructure, smart manufacturing, application scenarios and a vast market.

    “China and the EU could consider establishing an industrial chain security dialogue mechanism to form a ‘cooperation list’ in key areas such as semiconductors and pharmaceuticals,” Zhang said.

    By creating platforms like industrial cooperation parks and joint innovation funds, the two sides’ strategic consensus can be transformed into concrete projects, in order to shape a practical and feasible road map for them to build a new, future-oriented type of economic and trade partnership, he said.

    “With the transformation and upgrading of China’s manufacturing industry, the competition between China and the EU in economic and trade development has intensified a bit,” Zhang said.

    “However, as they both face external challenges like rising protectionism and geopolitical uncertainties, the two economies are expected to forge closer economic ties based on complementary competition, thereby achieving a win-win situation,” Zhang added.

    Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, said the potential for collaboration between China and the EU is enhanced by their market complementarity and need for resource optimization.

    He said he expects more cooperation mechanisms between the two sides to boost collaboration by enterprises, drive innovation and improve the allocation of market resources.

    “By doing such things, China and the EU could generate significant economic and social benefits, boost employment and enhance supply chain security for both,” said Zhou, whose academy is affiliated with China’s Ministry of Commerce.

    China remains the EU’s largest import source and third-largest export destination, according to European statistics. Moreover, China’s outbound direct investment inflows to the EU grew from 6.27 billion euros ($6.43 billion) in 2020 to 8.06 billion euros in 2023, with greenfield investment reaching 5.3 billion euros in 2023 — an increase of 48 percent compared with 2022.

    Zhang, from the Chinese Academy of Macroeconomic Research, said that cooperation potential between China and the EU spans three key areas: green transformation, digital cooperation and third-party market development.

    The two economies could build a joint carbon-neutral laboratory focusing on clean technology collaboration, recognize each other’s cross-border e-commerce standards, and build dialogue mechanisms for cooperation in frontier areas like data flow and artificial intelligence ethics, he said.

    According to Zhou, from the Chinese Academy of International Trade and Economic Cooperation, China and the EU should focus in the short term on reviewing and strengthening existing supply chain cooperation, whether market-driven or government-promoted, by reducing trade barriers and increasing investment opportunities and the mobility of personnel.

    Long-term strategies should aim for more effective market integration through reduced tariffs, increased consultation mechanisms and enhanced collaboration on innovation, he added.

    Zhou also said that Sino-EU cooperation could extend beyond bilateral relations to include third-party market opportunities in Latin America, Africa and elsewhere.

    “This expanded cooperation could help address global challenges while strengthening both parties’ economic independence and meeting consumer demand in emerging technological sectors,” he added.

    Experts also said the US tariff hikes will not be good for anyone and will fail to achieve the so-called purpose of making America great again.

    Ju Jiandong, chair professor at Tsinghua University’s PBC School of Finance, said that if the US truly wants to maximize its own interests, it should not damage ties with its manufacturing suppliers.

    “Don’t go against the customers and don’t go against the suppliers – these are the ABCs of economics,” Ju said.

    Business leaders also said they have an optimistic outlook on China-EU economic and trade cooperation.

    Thomas Roemer, global head of the coatings and adhesives business entity of Covestro AG, a German polymer manufacturer, expressed strong support for fair, open and rule-based global trade.

    “We will continue to invest in China to provide our customers with innovative and sustainable solutions and products,” Roemer said.

    Denis Depoux, global managing director at German management consultancy Roland Berger, said the interdependence between the Chinese and EU economies remains significant.

    MIL OSI China News –

  • MIL-OSI: January 2025 P&C Reinsurance Renewals Results: Sustained growth in preferred lines coupled with attractive margins

    Source: GlobeNewswire (MIL-OSI)

    Press release
    4 February 2025 – N° 02

    January 2025 P&C Reinsurance Renewals Results

    Sustained growth in preferred lines coupled with attractive margins

    • In line with its Forward 2026 strategic plan, SCOR continues to grow its P&C preferred lines while maintaining a strong underwriting discipline.
    • During the January 2025 P&C renewals, SCOR achieves EGPI1 growth of 9.6%2 supported by Specialty lines and Alternative Solutions: 
      • Increasing EGPI by 8.1%2 for Engineering, Marine, IDI and International Casualty;
      • Leveraging the strong momentum in Alternative Solutions and growing EGPI by 29.6%2;
      • Maintaining a prudent approach to business exposed to climate change and US Casualty. 
    • SCOR’s expected technical profitability remains unchanged at attractive level benefitting from dynamic retrocession buying.

    Jean-Paul Conoscente, CEO for P&C at SCOR, comments: “We are satisfied with the successful 1.1 2025 renewals results. SCOR achieves a +9.6% EGPI growth while maintaining a stable technical profitability. We continue to deliver targeted growth in our preferred lines of business, while keeping T&Cs mostly unchanged. Despite the slight rate reduction observed in the market, SCOR successfully maintains stable pricing thanks to its proactive portfolio management. Looking ahead, we believe the market still offers opportunities for profitable growth. SCOR will continue to leverage on its Tier 1 franchise and build on the strong momentum achieved during the 1.1 renewals.”

    January 2025 P&C Reinsurance Renewals

    During the January 2025 renewals, demand for reinsurance coverage remains elevated. Following an increase in capital supply, the market conditions have become slightly more competitive compared to the peak level of the cycle observed last year. In this context, SCOR maintains strict underwriting discipline and successfully grows its preferred lines according to its Forward 2026 growth strategy, keeping T&Cs mostly stable and maintaining the net profitability of its P&C Reinsurance book unchanged.

    P&C Reinsurance book renewed at 1 January 2025(1):

      Premiums renewed
    (in EUR million)    		 Evolution vs. January 2024 Main lines concerned
    P&C Lines(2) 2,798 +2.9% o/w Nat Cat (+0.3%)
    Specialty Lines(3) 1,762 +14.3% o/w Engineering, Marine, IDI (+17.2%)
    Alternative Solutions 705 +29.6%  
    TOTAL 5,265 +9.6%  

    (1).   Approximately 64% of SCOR’s P&C Reinsurance premiums – representing c.50% of SCOR’s total P&C premiums – is renewed in January.
    (2).   P&C Lines include Property, Property Cat, Casualty, Motor, and other related lines (Personal Insurance, Nuclear, Terrorism, Special Risks, Motor Extended Warranty, and Inwards Retrocession).
    (3).   Specialty Lines include Agriculture, Aviation, Credit & Surety, Inherent Defects Insurance, Engineering, Marine and Offshore, Space, and Cyber.

    P&C Lines EGPI grows by 2.9%2, driven by continued disciplined Nat Cat underwriting and decreasing exposures in US Casualty. Natural Catastrophe premiums remain flat with a slight increase in net exposure. In US Casualty, SCOR maintains a prudent approach and renews its portfolio with selected clients. This leads to a 11.0%2 decrease in US Casualty EGPI and continued exposure reduction to this business.

    Specialty Lines EGPI grows by 14.3%2. This is driven by +17.2%2 EGPI growth in diversifying lines (Engineering, Marine and IDI) in line with the Forward 2026 plan.

    Alternative Solutions EGPI grows by 29.6% compared to 1st January last year, with continued positive new business momentum across all regions.

    The expected net technical profitability remains unchanged for the renewed portfolio. This reflects continued discipline along with dynamic retrocession buying, which offsets the inward business margin erosion from commissions, modelling changes and the impact of the business mix.

    SCOR leverages the changing market environment to optimize its retrocession structures. SCOR maintains its risk exposure within its risk appetite defined in Forward 2026.

    For the upcoming renewals in 2025, SCOR expects continued discipline and adequate prices. In parallel, SCOR continues to develop risk partnerships with new and existing partners.

    *

    *        *

    SCOR, a leading global reinsurer

    As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying “The Art & Science of Risk”, SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society.

    The Group generated premiums of EUR 19.4 billion in 2023 and serves clients in more than 160 countries from its 35 offices worldwide.

    For more information, visit: www.scor.com

    		 Media Relations
    Alexandre Garcia
    media@scor.com
      
    Investor Relations
    Thomas Fossard
    InvestorRelations@scor.com

    Follow us on LinkedIn

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    General

    Numbers presented throughout this press release may not add up precisely to the totals in the tables and text. Percentages and percent changes are calculated on complete figures (including decimals); therefore the press release might contain immaterial differences in sums and percentages due to rounding. Unless otherwise specified, the sources for the business ranking and market positions are internal.

    Forward-looking statements

    This press release includes forward-looking statements, assumptions, and information about SCOR’s financial condition, results, business, strategy, plans and objectives, including in relation to SCOR’s current or future projects.

    These statements are sometimes identified by the use of the future tense or conditional mode, or terms such as “estimate”, “believe”, “anticipate”, “expect”, “have the objective”, “intend to”, “plan”, “result in”, “should”, and other similar expressions.

    It should be noted that the achievement of these objectives, forward-looking statements, assumptions and information is dependent on circumstances and facts that may or may not arise in the future.

    No guarantee can be given regarding the achievement of these forward-looking statements, assumptions and information. These forward-looking statements, assumptions and information are not guarantees of future performance. Forward-looking statements, assumptions and information (including on objectives) may be impacted by known or unknown risks, identified or unidentified uncertainties and other factors that may significantly alter the future results, performance and accomplishments planned or expected by SCOR.

    In particular, it should be noted that the full impact of the economical and geopolitical risks on SCOR’s business and results cannot be accurately assessed.

    Therefore, any assessments, any assumptions and, more generally, any figures presented in this press release will necessarily be estimates based on evolving analyses, and encompass a wide range of theoretical hypotheses, which are highly evolutive.

    Information regarding risks and uncertainties that may affect SCOR’s business is set forth in the 2023 Universal Registration Document filed on March 20, 2024, under number D.24-0142 with the French Autorité des marchés financiers (AMF) posted on SCOR’s website www.scor.com.

    In addition, such forward-looking statements, assumptions and information are not “profit forecasts” within the meaning of Article 1 of Commission Delegated Regulation (EU) 2019/980.

    SCOR has no intention and does not undertake to complete, update, revise or change these forward-looking statements and information, whether as a result of new information, future events or otherwise.

    Financial information

    All figures in this press release are unaudited unless otherwise specified.

    Unless otherwise specified, all figures are presented in Euros.

    Any figures for a period subsequent to 30 September, 30 2024 should not be taken as a forecast of the expected financials for these periods.

    All figures are at constant exchange rates as of December 31, 2024 unless otherwise specified.

    All figures are based on available information as of January 25, 2025 unless otherwise specified.

    1 Estimated Gross Premium Income (EGPI).
    2 vs 1 January 2024 EGPI.

    Attachment

    The MIL Network –

  • MIL-OSI USA: Senator Coons’ resolution reaffirming USAID’s role in safeguarding U.S. national security blocked on the Senate floor

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons

    WASHINGTON – Tonight, U.S. Senator Chris Coons (D-Del.) went to the Senate floor to introduce and ask for unanimous consent on a resolution reaffirming the sense of Congress that the U.S. Agency for International Development (USAID)’s independence is essential for advancing the national security interests of the United States.

    The resolution is a direct response to President Donald Trump’s and Elon Musk’s potential elimination of USAID and pause to the vast majority of U.S. foreign assistance programs, including reports that President Trump would sign an executive order folding the agency into the State Department— moves that are illegal without congressional approval. 

    “We know that diplomacy and development stand alongside defense in being critical to our national security,” Senator Coons said on the Senate floor. “Who wins if we do in fact shut this all down? It’s our adversaries. It’s terrorists, it’s drug cartels, it’s Russia, it’s China, it’s those we’ve held at bay through the great work of this organization and its dedicated servants for decades.”

    Senator Coons spoke on the unlawful efforts to defund and destroy USAID by President Trump and Musk and demanded clarity amid purges of USAID’s top personnel, aid freezes, and chaos. He highlighted USAID’s vital humanitarian assistance work during global conflicts and other crises, including efforts to counter terrorism recruitment in the Philippines and to reduce the number of children pulled into gangs supporting organized crime and human trafficking. He also pointed out that while Republicans claim to be concerned about cutting costs, our entire foreign aid budget accounts for less than one percent of the federal budget.

    U.S. Senator Jim Risch (R-Idaho) objected.

    The resolution introduced by Senator Coons expressed “the sense of the Senate that [USAID] is essential for advancing the national security interests of the United States.” The resolution has 42 cosponsors. The full text of the resolution is available here. 

    Earlier today, the Washington Post published an op-ed from Senator Coons highlighting the dangers posed but the Trump administration’s efforts to dismantle USAID.

    A video and partial transcript of Senator Coons’ comments are available below.

    WATCH HERE.

    SENATOR COONS: “Mr. President, if I might further expound on the resolution and respond to the comments by my colleague, the Chairman of the Foreign Relations Committee on which I serve. The resolution I sought to advance today is a simple statement of fact. It reviews the history of USAID, its creation as an independent agency, and its recognition in a law I helped write just last year—that to reorganize it explicitly requires congressional consultation and notification in advance.

    The statement of the resolution, the core point, is that USAID is essential to the national security of the United States, because it mitigates threats abroad before they reach us here, it promotes global stability, it addresses the root causes of migration and extremism, and secures the leadership and influence of the United States in an era of strategic competition with the People’s Republic of China. 

    Let me speak to a few points, if I might: the power of the purse, process matters, one percent, and who wins. Rolling back the decades of work and relationships that the nonprofits and AID do around the world is creating a vacuum – a vacuum that will be filled by bad actors. So in a country where we’ve long-funded the PEPFAR program, started by President Bush, long-supported on a bipartisan basis, that provides anti-retrovirals and testing and nurses and support and clinics; to abandon that, to defund that, to shut that down, simply creates an opening for a bad actor to come in and say ‘The Americans abandoned you. Sorry for your luck. Here we are. We want to help.’ The Chinese have invested hundreds and hundreds of billions of dollars advancing their interests through investing in infrastructure, building partnerships in critical minerals, becoming the leads on port operations, and delivering humanitarian aid. We should not shut down our assistance to the world in a way that creates this vacuum. Who wins is the first question. My concern is our adversaries.

    Second, process matters. As those of us who are lawyers know, it’s backwards to start with an executive order that shuts down the funding for an organization and entity, to invade and occupy its headquarters, to have an unelected department get into its systems, to lay off and furlough its senior leadership, and then notify Congress of the intent to begin a conversation about reorganization. I welcome a chance to have a conversation about the future of our development assistance around the world, and my hope is that it will continue, because I have case after case to review here about the good work it does. But to shut down the funding and to cause lots of our partners to lay off their key staff, then begin a conversation about reorganization, is to get it backwards in terms of process and the law.

    I’m an appropriator. Why should we bother coming to an agreement on appropriations here in the Senate, pass a law, send it to the president, he signs it – and then in the next Congress and the next president, they can shut it down and claw it back? It gets to the very question of the power of the purse, which in Article 1 of the Constitution is the power of this body. Going forward, of course, as my colleague said, elections have consequences. It is true that President Trump and the new majority here will put their imprimatur on the policy priorities across a wide range of agencies and programs, absolutely. I expect that discussion and that fight – but this is reaching back and shutting down. 

    One percent – one percent, actually, less than one percent of the total federal budget goes to these vital humanitarian programs around the world. I’ll give you a few examples of what has been stopped in its tracks: a U.S. organization funded through AID has stopped its counterterrorism work in the Philippines that was reducing recruitment and radicalization. We walked away from that work. In Mexico, an organization that reduces the number of children recruited by gangs to help move drugs and migrants across our border has had its funding cut off. I remember trips I took, bipartisan delegations I was a part of, that went and visited AID-funded work where folks were delivering critical care. St. Mary’s clinic in Kibera – in Nairobi, in Kenya: one of the worst informal settlements – slums – I’ve ever been in in my life, and these dedicated, caring, capable folks delivering vital life assistance. In Liberia during Ebola, I will never forget meeting with the nurses, doctors, volunteers, the Liberians who were helping save lives. Why does this matter? Today there is an Ebola outbreak in Kampala, Uganda, and it’s the disease monitoring and testing, it’s the clinics and the nurses that keep these diseases controlled and managed on the other side of the world before they come here.

    Failing to sustain this work in an efficient and effective way is to fail to show the values of the United States, to show we’re not a reliable partner, it’s to show that the decades of bipartisan support for critical initiatives like PEPFAR have been abandoned because they’re no longer considered a smarter strategic investment by one party, while the other party will fight for it.

    My fondest hope is that we will yet find there is bipartisan support for continuing and sustaining these investments, but it’s unclear, because the unelected leader of DOGE, Elon Musk, is even now tweeting, ‘shut it down, close it off.’ My hope is that Secretary Rubio’s comments today on television about sustaining many of the critical functions of AID will win out, but I’m not confident – because it’s unclear to me who’s really driving this initiative. 

    Let me close: We know that diplomacy and development stand alongside defense in being critical to our national security. President Trump’s first defense secretary, General James Mattis, said to us in a hearing that if foreign aid were to get cut, he would need to buy more bullets, because foreign aid around the world helps us build relationships of support, combat terrorism and extremism, advance our values and priorities, and make us safer and more secure. I cannot think of a more troubling development than this long-trusted, capable, bipartisan effort at helping bring our values to the world and helping secure our nation would be cut off, abruptly, roughly, in a way that violates the law and the spirit of our long bipartisan compromise.

    Who wins if we do in fact shut this all down? It’s our adversaries. It’s terrorists, it’s drug cartels, it’s Russia, it’s China, it’s those we’ve held at bay through the great work of this organization and its dedicated servants for decades. My hope is that even though this resolution was opposed and thus defeated tonight, that the determination to support this great work will survive and thrive and prevail.”

    Senator Coons is a member of the Senate Foreign Relations Committee and Ranking Member of the Senate Appropriations Subcommittee on Defense. He is the former Chair of the Senate Appropriations Subcommittee on State and Foreign Operations.

    MIL OSI USA News –

  • MIL-OSI Australia: Queensland Government introduces more rigorous assessment process for wind farm developments

    Source: Allens Insights

    A significant shift for the state’s wind energy sector 7 min read

    From 3 February 2025, wind farm developments in Queensland will transition from a code assessable to an impact assessable application process, introducing a more rigorous assessment process. This shift reflects the Queensland Government’s growing concerns over environmental impacts and community opposition and marks a significant change for the state’s wind energy sector.

    The revised State Code 23: Wind farm development (v.3.2) (Updated Wind Farm Code) introduces updated requirements, including stronger community engagement obligations, agricultural land protections and new infrastructure and decommissioning provisions. These updates aim to provide a more structured approach to managing the potential environmental, community and infrastructure impacts throughout the lifecycle of wind farm projects.

    In this Insight, we explore the additional assessment requirements, including expanded public consultation and a broader technical review, and outline the key considerations for developers, investors and government bodies amid increased scrutiny, public engagement obligations and regulatory hurdles.

    Key takeaways

    • Wind farm developments in Queensland will now undergo impact assessment, leading to heightened technical scrutiny, public consultation and appeal rights for submitters.
    • The transition from State Code 23: Wind farm development (v.3.1) to the Updated Wind Farm Code marks a notable policy shift, increasing regulatory scrutiny on wind farm development.
    • The new requirements introduce enhanced environmental protections, agricultural safeguards and community engagement obligations.
    • Infrastructure obligations have been expanded, including:
      • road and transport measures to mitigate impacts on local road networks during both construction and operation, ensuring safe and efficient transportation of wind farm components and materials throughout the project lifecycle.
      • financial security for decommissioning, requiring developers to provide bonds or financial guarantees to ensure the timely rehabilitation of sites and removal of infrastructure at the end of the wind farm’s operational life.
      • stronger community engagement requirements, including the submission of a Workforce Accommodation and Infrastructure Report to assess impacts on housing, services and local infrastructure, with a focus on consulting with local governments regarding workforce accommodation strategies and their impact on the community.
    • The Queensland Government has also signalled future regulatory changes that may apply similar impact assessment requirements to large-scale solar farms and other renewable energy projects, suggesting a broader policy shift.

    Changes to the assessment process

    The Planning (Wind Farms) Amendment Regulation 2025 (Qld) (Amendment Regulation) effective from 3 February 2025, raises the assessment threshold for wind farms from code assessable to impact assessable,.

    The shift follows the Ministerial Direction issued by the Honourable Jarrod Bleijie MP, Deputy Premier, Minister for State Development, Infrastructure and Planning, and Minister for Industrial Relations on 16 January 2025, which suspended assessments for the Wongalee, Theodore and Bungaban Wind Farms. The Queensland Government says this change is intended to bring wind farm developments into line with the approval processes required for major development projects, reinforcing its commitment to robust environmental and community impact assessments.

    The increase to impact assessment represents the highest level of scrutiny under Queensland’s planning framework. Wind farm projects will now:

    • require more comprehensive technical assessments
    • have expanded public consultation requirements
    • be subject to appeal rights for submitters, which now apply to wind farm projects subject to impact assessment (and were not available under code assessment).

    Wind Farm Code: key amendments

    The Amendment Regulation introduces the Updated Wind Farm Code, which imposes updated assessment criteria for wind farm development applications.

    Table 1: Key amendments in the Updated Wind Farm Code

    Key change Wind Farm Code Commentary
    Purpose statement

    Revised purpose statement explicitly highlights the potential for adverse impacts, and emphasises the need to demonstrate that development does not result in unacceptable adverse impacts. Specifically includes:

    • minimum assessment parameters to mitigate impacts.
    • emphasis on community and local government engagement.
    • focus on all stages: design, siting, construction, operation and decommissioning.
    		 The Updated Wind Farm Code emphasises greater community consultation, local government engagement and the need to demonstrate effective mitigation of adverse impacts through specific assessment parameters. It introduces a more detailed focus on the siting of developments near sensitive areas and integrates a lifecycle approach, covering all stages of development, including decommissioning.
    Agricultural land protection PO5: requires that wind farm development must ensure there is no significant loss of high-quality agricultural land values. This includes a focus on avoiding or minimising impacts on high-quality agricultural land, aligning with State Planning Policy definitions. The Updated Wind Farm Code introduces the requirement for an Agricultural Land Assessment Report to be submitted as part of the application. This report must demonstrate that the development does not result in a significant loss of high-quality agricultural land values, identifying the land’s suitability for agricultural production and ensuring alignment with the State Planning Policy definitions. It includes an assessment of soils, land suitability and agricultural potential.
    Workforce accommodation

    PO16: on-site workforce accommodation associated with the construction of the wind farm must not result in adverse impacts on surrounding communities and townships, such as overburdening services and community facilities.

    PO17: off-site workforce accommodation associated with the construction of the wind farm must not result in adverse impacts on surrounding communities and townships, such as overburdening services, housing supply and community facilities.

    		 The Updated Wind Farm Code requires applicants to submit a Workforce Accommodation and Infrastructure Report that details both on-site and off-site accommodation options. It includes an assessment of potential impacts on housing supply, community services and local infrastructure. Developers must assess and address the impacts of workforce accommodation on local communities and services, including commuting distances, housing demand and pressure on community facilities. The Updated Wind Farm Code places greater emphasis on consultation with local governments regarding workforce accommodation strategies and their impacts.
    Infrastructure

    PO23: explicitly states that impacts of the development on infrastructure and services, including social infrastructure, communications networks and essential infrastructure, must be identified. Furthermore, measures to manage, mitigate and remediate any impacts must be undertaken:

    • prior to commencement of any development.
    • prior to additional demand being placed on infrastructure and services.

    PO23 requires wind farm developers to assess and mitigate the impact of their development on both essential infrastructure (such as water, waste, electricity and communications networks) and social infrastructure (such as healthcare and emergency services). The Workforce Accommodation and Infrastructure Report is a critical document in this assessment, detailing:

    • the infrastructure and services that may be affected by the development, both during construction and operation.
    • mitigation measures to address any identified impacts, which must be implemented prior to the start of development or before additional demand is placed on local services.
    • consultation with local governments and relevant infrastructure providers to ensure the project is compatible with the existing infrastructure capacity and community needs.
    Community impact PO26: developers must identify, assess and mitigate impacts on local communities, ensuring that any adverse impacts are avoided. The mitigation strategies are explicitly required to address community concerns. This requirement reflects a proactive approach to handling community impacts.

    PO26 requires wind farm developers to identify, assess and mitigate impacts on surrounding communities and individuals. The key practical changes introduced by this Performance Outcome are:

    • Developers must engage with local communities and stakeholders prior to lodging applications. This ensures transparency and allows concerns to be addressed early in the planning process.
    • A comprehensive Community Engagement Report is required, detailing the community profile, stakeholder feedback and how concerns have been or will be addressed. This is a more structured approach compared to previous guidelines, ensuring that community input directly informs project design.
    • The report should also outline measures for managing and resolving complaints, with a Complaint Investigation and Response Plan that includes a toll-free hotline, incident tracking and clear processes for resolving issues raised by the public.
    Decommissioning PO30: introduces a requirement for developers to provide financial security mechanisms (eg bonds or financial guarantees) to ensure timely compliance with decommissioning obligations. The Updated Wind Farm Code requires the preparation of detailed decommissioning plans after the completion of construction and the commencement of operations, as well as at the end of the project’s operational life. These plans must outline how decommissioning activities will ensure no adverse impacts on individuals, communities or the natural environment. Typically, this involves measures to ‘make good’ the land and remove infrastructure. A key addition in PO30 is the requirement for applicants to provide evidence of financial security (such as bonds or financial guarantees) to ensure timely compliance with decommissioning obligations. This aims to mitigate risks and ensure the decommissioning process is completed efficiently, with minimal impacts on landowners and government.

    The effects of the new assessment regime

    • Existing development applications: wind farm development applications lodged before 3 February 2025 will continue to be assessed under the framework that applied at the time of lodgement.
    • New development applications: all new wind farm applications lodged from 3 February 2025 onwards will be subject to impact assessment and must comply with the Updated Wind Farm Code. This means greater technical scrutiny, public consultation and increased regulatory obligations.
    • ‘Other change’ applications: if a change to an existing development approval is classified as an ‘other change’ under the Planning Act 2016 (Qld) (Planning Act), it may trigger a new assessment under the Updated Wind Farm Code.
    • Suspended projects: the Ministerial Direction issued on 16 January 2025 has temporarily paused assessments for the Wongalee, Theodore and Bungaban Wind Farms until 16 May 2025. The assessment pathway for these projects will be confirmed once the suspension period concludes.
    • Potential for Ministerial call-in: the Planning Act provides discretionary call-in powers, allowing the Minister to assess or reassess development applications where a state interest is identified. If a project is called in:
      • the Minister may determine which assessment benchmarks apply, including the possibility of applying the Updated Wind Farm Code.
      • appeal rights available under standard development assessment processes do not apply, with judicial review being the only available legal avenue.

    Next steps

    Developers, investors and government bodies will need to navigate increased scrutiny, public engagement obligations and regulatory hurdles.

    Key considerations moving forward:

    • Regulatory preparedness: developers should carefully review the Updated Wind Farm Code to ensure their projects meet the new planning and environmental benchmarks.
    • Engagement strategies: with heightened public consultation requirements and new appeal rights for submitters, early and proactive engagement with stakeholders is essential to mitigate risk.
    • Financial planning: the new financial security obligations for decommissioning and site rehabilitation will require developers to assess funding provisions at the outset.
    • Monitoring Ministerial intervention: the existing Ministerial Direction and call-in powers add further complexity. Developers should closely monitor regulatory developments and be prepared for increased scrutiny of wind farm projects.
    • Future regulatory changes and community benefit framework: The Queensland Government has signalled its intent to expand impact assessment requirements to other renewable projects, including large-scale solar farms, while introducing a community benefit framework. Renewable energy developers should prepare for additional scrutiny on future projects, which may require demonstrating local economic benefits, job creation, or infrastructure investment as part of the approval process, similar to other major development projects in regional communities.

    The evolving regulatory landscape for wind energy and other renewable projects in Queensland requires strategic planning, legal awareness and other proactive stakeholder engagement. For further advice or detailed information regarding the new planning framework and its implications, please reach out to any of the listed contacts.

    MIL OSI News –

  • MIL-OSI: Notice of the Annual General Meeting 2025

    Source: GlobeNewswire (MIL-OSI)

    eQ Plc Stock Exchange Release
    4 February 2025, at 8:15 am


    Notice of the Annual General Meeting 2025

    Notice is given to the shareholders of eQ Plc to the Annual General Meeting (the “AGM”) to be held on 25 March 2025 at 5:00 p.m. at Sanoma House’s Eliel meeting room, Töölönlahdenkatu 2, 00100 Helsinki, Finland. The reception of persons who have registered for the meeting will commence at 4:30 p.m. at the meeting venue.

    The AGM will be held as a hybrid meeting in accordance with chapter 5, section 16, subsection 2 of the Finnish Limited Liability Companies Act. As an alternative to participating in the Annual General Meeting at the meeting venue, shareholders can fully exercise their rights during the meeting also via remote connection. Shareholders can exercise their right to vote also by voting in advance. Further attendance instructions, instructions for voting in advance and remote participation are presented in part C of this notice to the AGM.

    Shareholders can ask questions referred to in chapter 5, section 25 of the Finnish Companies Act about the matters to be discussed at the meeting, also in writing before the meeting. Instructions for submitting written questions are presented in this notice under section C.

    A. Matters on the agenda of the AGM

    At the Annual General Meeting, the following matters will be considered:

    1. Opening of the meeting

    2. Calling the meeting to order

    3. Election of persons to scrutinise the minutes and persons to supervise the counting of votes

    4. Recording the legality of the meeting

    5. Recording the attendance at the meeting and adoption of the list of votes

    6. Presentation of the annual accounts, report of the Board of Directors and auditors’ report for the year 2024

    – Presentation of the review by the CEO

    The annual accounts, report of the Board of Directors and the auditors’ report published by the Company will be available no later than 4 March 2025 on the Company’s website www.eq.fi.

    7. Adoption of the annual accounts

    8. Resolution on the use of the profit shown on the balance sheet and the payment of dividend

    The distributable means of the parent company on 31 December 2024 totalled EUR 57,409,143.02. The sum consisted of retained earnings of EUR 31,984,573.28 and the means in the reserve of invested unrestricted equity of EUR 25,424,569.74.

    The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.66 per share be paid out. The proposal corresponds to a dividend totalling EUR 27,328,750.68 calculated with the number of shares at the close of the financial year. The dividend will be paid out in two separate installments.

    The first installment, EUR 0.33 per share shall be paid to those shareholders who are registered as shareholders in eQ Plc’s shareholder register maintained by Euroclear Finland Ltd on the record date of the dividend payment on 27 March 2025. The Board proposes 3 April 2025 as the payment date of the first installment of the dividend. 

    The second installment, EUR 0.33 per share shall be paid in October 2025. The second installment shall be paid to those shareholders who are registered as shareholders in eQ Plc’s shareholder register maintained by Euroclear Finland Ltd on the record date of the divided payment. The Board shall decide the record date and the payment date of the second installment of the divided in its meeting in September 2025. It is contemplated that the record date of the second installment will be 7 October 2025 and that the payment date will be 14 October 2025. 

    After the end of the financial period, no essential changes have taken place in the financial position of the company. The Board of Directors feel that the proposed distribution of dividend does not endanger the liquidity of the company.

    9. Resolution on the discharge of the members of the Board of Directors and the CEOs from liability for the financial year 1 January – 31 December 2024

    10. Handling of the Remuneration Report for Governing Bodies

    The Remuneration Report for Governing Bodies shall be available on the company’s website www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset no later than 4 March 2025.

    11. Handling of the Remuneration Policy for Governing Bodies

    The Remuneration Policy for the company’s governing bodies was previously presented to the Annual General Meeting in 2021. The Remuneration Policy must be presented to the general meeting at least every four years or whenever substantial changes have been made to it.

    The Board of Directors presents the Remuneration Policy for Governing Bodies to the Annual General Meeting for adoption by an advisory decision. The Remuneration Policy for Governing Bodies shall be published together with the Annual Report by a stock exchange release and it will be available on the company’s website https://www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset no later than 4 March 2025.

    12. Resolution on the remuneration of the members of the Board of Directors

    Shareholders of eQ Plc, who control over 60 per cent of the outstanding shares and votes, propose that the Chair of the Board of Directors receives 5,000 euros per month, Vice Chair of the Board of Directors receives 4,000 euros per month and the members of the Board of Directors receive 3,000 euros per month. In addition, a compensation of 750 euros per meeting is proposed to be paid for all the Board members for each attended Board meeting and travel and accommodation expenses are reimbursed according to the guidelines of eQ Plc.

    13. Resolution on the number of members of the Board of Directors

    Shareholders of eQ Plc, who control over 60 per cent of the outstanding shares and votes, have made a proposal that the number of the Board members remain unchanged, i.e. that six persons be on the Board of Directors, or five persons, if a person proposed by the Shareholders is prevented from being a Board member of the company.

    14. Election of the members of the Board of Directors

    Shareholders, who control over 60 per cent of the outstanding shares and votes, have made a proposal that the current Board members Päivi Arminen, Nicolas Berner, Georg Ehrnrooth, Janne Larma and Tomas von Rettig are re-elected to the Board of Directors and Caroline Bertlin will be elected as a new member to the Board. If one of the persons proposed by the Shareholders is prevented from being a Board member of the company, such persons who are not prevented from being Board members. The term of office of the Board members ends at the close of the next Annual General Meeting.

    Caroline Bertlin (born 1978) is an experienced business leader with vast experience in the Nordics and internationally. Bertlin is based and has spent most of her career in Sweden. Currently she is engaged in strategy and funding of energy infrastructure for Nordion Energi. Prior to that she was the CEO of Nordisk Renting and Managing Director in NatWest Structured Finance (2016-2023). Previously she worked as Head of Restructuring, Turnaround CEO and Project Lead for Strategic projects in the NatWest Group (2009-2015). Earlier experience includes portfolio management and analyst positions within banking and alternative investments. In addition, she is a member of the Board of Nordisk Renting AB (2016-). Caroline Bertlin holds a Master of Science (Economics) degree from Hanken School of Economics.

    All nominees have given their consent to the proposal. In addition, the nominees have indicated that on selection, they will select Georg Ehrnrooth as Chair of the Board of Directors.

    Member candidates’ resumes and independence assessments are available on the company’s website: www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset.

    15. Resolution on the remuneration of the auditor

    The Board of Directors proposes that the auditor to be elected be paid remuneration according to the auditor’s invoice approved by eQ Plc.

    16. Election of auditor

    The Board of Directors proposes, that for a term ending at the end of the Annual General Meeting 2026, Authorized Public Accountants KPMG Oy Ab be elected auditor of the Company. The auditor has stated that the auditor with main responsibility will be Tuomas Ilveskoski, APA, Authorized Sustainability Auditor.

    17. Resolution on the remuneration of the sustainability auditor

    The Board of Directors proposes that the sustainability auditor to be elected be paid remuneration according to the auditor’s invoice approved by eQ Plc.

    18. Election of sustainability auditor

    For the financial year 2025, the company must prepare its first sustainability report in accordance with the EU Sustainability Reporting Directive, CSRD, and relevant national legislation.

    The Board of Directors proposes, that for a term ending at the end of the Annual General Meeting 2026, Authorized Public Accountants KPMG Oy Ab be elected sustainability auditor of the Company. KPMG has stated that the sustainability auditor with main responsibility will be Tuomas Ilveskoski, APA, Authorized Sustainability Auditor.

    19. Establishment of a Shareholders’ Nomination Board

    The Board of Directors proposes that the Annual General Meeting establishes a Shareholders’ Nomination Board whose task is to prepare proposals concerning the number of members of the Board of Directors and the Board’s composition and remuneration to the General Meeting.

    According to the proposal, the Shareholders’ Nomination Board comprises of four members and four largest shareholders of the Company may each appoint a member.

    The right to appoint a member belongs to the four shareholders who, as of the last day of June preceding the next Annual General Meeting, have the largest share of the total voting rights of the Company’s shares, taking into account those shareholders whose holdings should be aggregated subject to the obligation to notify major holdings.

    The Board of Directors proposes that the Annual General Meeting adopts the Charter for the Shareholders’ Nomination Board. The Board’s proposal for the Company’s Charter for the Shareholders’ Nomination Board is available on the Company’s website: www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset.

    20. Authorising the Board of Directors to decide on the issuance of shares as well as the issuance of special rights entitling to shares

    The Board of Directors proposes that the AGM authorises the Board of Directors to decide on a share issue or share issues and/or the issuance of special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act, comprising a maximum total of 3,500,000 new shares. The amount of the proposed authorisation corresponds to approximately 8.45 per cent of all shares in the Company at the time of this Notice of the AGM.

    The authorisation is proposed to be used in order to finance or carry out potential acquisitions or other business transactions, to strengthen the balance sheet and the financial position of the Company, to fulfill Company’s incentive schemes or to any other purposes decided by the Board. Fifty per cent of the shares or special rights entitling to shares issued on the basis of the authorisation may be used to implement incentive schemes or otherwise for remuneration. It is proposed that based on the authorization, the Board decides on all other matters related to the issuance of shares and special rights entitling to shares referred to in Chapter 10 Section 1 of the Companies Act, including the recipients of the shares or the special rights entitling to shares and the amount of the consideration to be paid. Therefore, based on the authorisation, shares or special rights entitling to shares may also be issued directed i.e. in deviation of the shareholders pre-emptive rights as described in the Companies Act. A share issue may also be executed without payment in accordance with the preconditions set out in the Companies Act.

    The authorisation will cancel all previous authorisations to decide on the issuance of shares as well as the issuance of special rights entitling to shares and is effective until the next Annual General Meeting, however no more than 18 months.

    21. Closing of the meeting

    B. Documents of the AGM

    This notice to the Annual General Meeting, that contains all decision proposals on the agenda of the AGM, is available to shareholders on eQ Plc’s website at www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset. eQ Plc’s Annual Report, containing the Company’s annual accounts, the report of the Board of Directors and the auditors’ report together with the Remuneration Report for Governing Bodies and the Remuneration Policy for Governing Bodies is available on the said website no later than 4 March 2025. The proposals for resolutions and other previously mentioned documents will also be available at the AGM.

    The Minutes of the Annual General Meeting will be available on the company’s website no later than 8 April 2025.

    C. Instructions to the participants of the AGM

    1. Shareholders registered in the shareholders’ register (Finnish book-entry account)

    Each shareholder, who is registered on the record date of the Annual General Meeting 13 March 2025 in the Company’s register held by Euroclear Finland Oy, has the right to participate in the Annual General Meeting. A shareholder, whose shares are registered on their personal Finnish book-entry account is automatically registered in the shareholders’ register of the Company. Changes in share ownership after the record date of the AGM do not affect the right to participate in the meeting or the shareholder’s number of votes.

    Registration for the AGM will begin on 25 February 2025 at 10 am. A shareholder, who is registered in the shareholders’ register of the Company and who wants to participate in the Annual General Meeting, must register for the AGM no later than 18 March 2025 by 4:00 pm by which time the registrations must be received.  Shareholders may register to the meeting:

    a) Via the website www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset

    Online registration require that the shareholders or their statutory representatives or proxy representatives use strong electronic authentication either by Finnish, Swedish or Danish bank ID or mobile certificate.

    b) By email agm@innovatics.fi or by mail

    A shareholder who registers by mail or email shall send registration form available on the Company’s website at www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset or corresponding information to Innovatics Oy by mail to Innovatics Oy, Annual General Meeting / eQ Oyj, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland or by email at agm@innovatics.fi.
    When registering, shareholders shall provide requested information, such as their name, date of birth or Business ID, address, telephone number, email address and the name of any assistant or proxy representative and the date of birth and email address and/or telephone number of any proxy representative. In addition, the shareholder shall inform whether the shareholder or its representative will participate in the AGM at the meeting venue or via a remote connection. The personal data given by the shareholder to the Company or Innovatics Oy will be used only in connection with the Annual General Meeting and with the processing of related necessary registrations.

    The shareholder and their representative or proxy must be able to prove their identity and/or right of representation at the meeting place, if necessary.

    Additional information on the registration is available during the registration period by telephone from Innovatics Oy at +358 10 2818 909 on business days during 9:00 am until 12:00 noon and from 1:00 pm until 4:00 pm.

    2. Holders of nominee-registered shares

    A holder of nominee-registered shares has the right to participate in the Annual General Meeting by virtue of such shares, based on which they on the record date of the Annual General Meeting 13 March 2025 would be entitled to be registered in the shareholders’ register of the Company held by Euroclear Finland Oy. Participation in the AGM also requires that the shareholder has been registered on the basis of such shares in the temporary shareholders’ register held by Euroclear Finland Oy at the latest by 20 March 2025 by 10:00 am. As regards nominee-registered shares this constitutes due registration for the AGM. Changes in the ownership of shares after the record date of the Annual General Meeting do not affect the right to participate in the AGM nor the number of votes of the shareholder.

    A holder of nominee-registered shares is advised to request without delay the necessary instructions regarding the temporary registration in the shareholders’ register, the remote participation or participation at the meeting venue, advance voting, the issuing of proxy documents and voting instructions and registration for the Annual General Meeting from their custodian. The account manager of the custodian shall temporarily register a holder of nominee-registered shares, who wants to participate in the Annual General Meeting, in the shareholders’ register of the Company at the latest by the time stated above and, if necessary, take care of advance voting on behalf of a holder of nominee-registered shares, at the latest prior to the end of the registration period for the holders of nominee-registered shares.  

    A holder of nominee-registered shares who has registered for the General Meeting may also participate in the meeting in real time using telecommunication connection and technical means. In addition to the temporary registration in the company’s shareholders’ register, the real-time participation in the meeting requires the submission of the shareholder’s email address and telephone number and, if necessary, a proxy document and other documents necessary to prove the right of representation to by regular mail to Innovatics Oy, Yhtiökokous/eQ Oyj, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland or by email to agm@innovatics.fi before the end of the registration period for the holders of nominee registered shares, so that the shareholders can be sent a participation link and password to participate in the meeting. If a holder of nominee-registered shares has authorised their custodian to cast advance votes on their behalf, such advance votes will be taken into account as advance votes of the nominee-registered shareholder at the AGM, unless the holder of nominee-registered shares votes otherwise at the AGM.

    3. Proxy representatives and powers of attorney

    A shareholder may participate in the Annual General Meeting and exercise its rights at the meeting by way of proxy representation. A shareholder’s proxy representative may also register for the AGM and vote in advance as described in this notice. The online registration and advance voting of a statutory or a proxy representative require that the statutory representatives or the proxy representatives identify themselves to the electronic registration and voting service at the Company’s website www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset in person by using strong electronic authentication either by Finnish, Swedish or Danish bank ID or mobile certificate, after which they may continue with the registration and voting on behalf of the shareholder they represent.

    Proxy representative of the shareholder shall in connection with the registration present a dated proxy document or otherwise in a reliable manner demonstrate their right to represent the shareholder. An example of the proxy document and voting instructions is available at the Company’s website www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset on 7 February 2025, 9:00 am, the latest. Should a shareholder participate in the Annual General Meeting by means of several proxy representatives representing the shareholder with shares in different book-entry accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration.

    The possible proxy documents should be delivered primarily as an attachment in connection with electronic registration or alternatively to agm@innovatics.fi before the closing of the registration. In addition to the delivery of proxies, the shareholder or their proxy must take care of registering for the AGM as described above in this notice.

    Shareholders that are legal entities may also, as an alternative to traditional proxy authorisation documents, use the electronic Suomi.fi authorisation service for authorising their proxy representatives. The representative is mandated in the Suomi.fi service at www.suomi.fi/e-authorizations (using the authorisation topic “Representation at the General Meeting”). When registering for the AGM in the virtual general meeting service provided by Inderes Plc, authorised representatives shall identify themselves with strong electronic authentication, after which the electronic mandate is automatically verified. The strong electronic authentication takes place with personal online banking credentials or a mobile certificate. For more information, see www.suomi.fi/e-authorisations.

    4. Remote participation in the meeting

    A shareholder who has the right to participate in the Annual General Meeting can participate in the meeting not only by participating in the AGM at the meeting venue but also, shareholders may use their rights in full and in real-time during the meeting via remote connection.

    Due to the limited space at the meeting venue, the shareholder’s or proxy’s notification of participation in the AGM via remote connection is binding, and the shareholder or proxy does not have the right to change the method of participation or participate in the meeting at the meeting place after the registration period has expired. However, the shareholder’s representative’s notification of participation via remote connection does not limit the right of shareholder’s other representatives to participate in the meeting at the meeting place.

    A shareholder or proxy who has registered to participate in the AGM at the meeting venue can change their participation to remote participation. There is no need to inform the company about this separately. Remote participation takes place via the remote participation link sent to the phone number and/or email address provided when registering for the AGM.

    The remote connection to the AGM is provided through Inderes Plc’s virtual general meeting service on the Videosync platform, which includes a video and audio connection to the Annual General Meeting. Participating via the remote connection does not require paid software or downloads. In addition to an internet connection, participation requires a computer, smartphone or tablet with speakers or headphones for sound reproduction and a microphone for asking oral questions or speaking turns. To participate, it is recommended to use the latest versions of the most common browser programs in use.

    The participation link and password for remote participation will be sent by email and/or text message to the email address and/or mobile phone number provided during registration to all those registered for the Annual General Meeting no later than the day before the meeting. Thus, advance voters and shareholders who have registered to attend the General Meeting at the venue may also participate in the General Meeting remotely via telecommunication if they so wish.  It is recommended to log into the meeting system well in advance of the meeting’s start time.

    More detailed information about the general meeting service can be found on the company’s website www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset. The link to test the compatibility of a computer, smartphone or tablet and the network connection can be found at https://b2b.inderes.com/fi/knowledge-base/yhteensopivuuden-testaaminen. It is recommended that you familiarise yourself with the more detailed participation instructions before the start of the AGM.

    5. Voting in advance

    Shareholders whose shares are registered on their Finnish book-entry account may vote in advance on certain items on the agenda of the AGM during the period between 25 February 2025 10:00 a.m. – 18 March 2025 at 4:00 p.m. in the following ways: 

    a) Via the website www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset

    Advance voting requires that the shareholders or their statutory representatives or proxy representatives use strong electronic authentication either by Finnish, Swedish or Danish bank ID or mobile certificate.

    b) By email agm@innovatics.fi or by mail

    A shareholder or its statutory representative who votes in advance by mail or email shall send the voting form available on the Company’s website at www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset or corresponding information to Innovatics Oy by mail to Innovatics Oy, Annual General Meeting / eQ Oyj, Ratamestarinkatu 13 A, FI-00520 Helsinki, Finland or by email at agm@innovatics.fi.  Advance votes must be received by the time the advance voting period ends. Submitting advance votes by mail or email to Innovatics Oy before the due date of the registration period and advance voting constitutes due registration for the AGM provided that the information required above for registration is provided in connection with the advance voting form.

    A shareholder who has voted in advance and who wants to use their right to present questions under the Companies Act, demand a vote or vote on a possible counter-proposal, must attend the general meeting in person or have their proxy representative participate in the AGM using the remote connection. The votes cast by those who have voted in advance will be taken into account in the decision-making of the General Meeting, regardless of whether they participate in the General Meeting remotely or at the meeting venue or not. If they participate remotely or at the meeting location, they have the opportunity to change their advance votes during the meeting, if they wish, when a vote takes place.

    For holders of nominee-registered shares, advance voting is carried out via the account manager of the custodian. The account manager may vote in advance on behalf of the holders of nominee-registered shares that they represent in accordance with the voting instructions provided by the holders of nominee registered shares during the registration period for the holders of nominee-registered shares.

    A proposal subject to advance voting is deemed to have been presented without amendments at the AGM. Conditions related to the electronic advance voting and other related instructions are available on the Company’s website at www.eq.fi/en/about-eq-group/hallinnointi/yhtiokokoukset.

    6. Other instructions/information

    The meeting shall be held in Finnish.

    Shareholders who are present at the meeting shall have a right to present questions referred to in Chapter 5, Section 25 of the Companies Act with respect to the matters to be considered at the Annual General Meeting.

    A shareholder may present questions referred to in Chapter 5, Section 25 of the Companies Act with respect to the matters to be considered at the Annual General Meeting by 11 March 2025 at 4:00 pm at the online registration service or by email to eQ.Yhtiokokous@eq.fi. The company’s management generally answers such questions submitted in writing in advance at the AGM or no later than two weeks after the general meeting on the company’s website. When presenting a question to the Annual General Meeting, the shareholder must provide sufficient information about their shareholding upon request.

    On the date of this notice, 4 February 2025, the total number of eQ Plc’s shares and votes is 41,407,198. The Company does not hold its own shares.

    Helsinki, 4 February 2025

    eQ Plc
    Board of Directors

    Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733

    Distribution: Nasdaq Helsinki, www.eQ.fi

    eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 13.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

    More information about the Group is available on our website at www.eQ.fi.

    The MIL Network –

  • MIL-OSI: Dassault Systèmes: Strong Q4 results driven by new business acceleration and expanded 3DEXPERIENCE footprint

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    VELIZY-VILLACOUBLAY, France — February 4, 2025

    Dassault Systèmes: Strong Q4 results driven by new business acceleration and expanded 3DEXPERIENCE footprint

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the fourth quarter 2024 and full year ended December 31, 2024. The Group’s Board of Directors approved these estimated results on February 3, 2025. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

    Summary Highlights1  

    (unaudited, non-IFRS unless otherwise noted,
    all growth rates in constant currencies)

    • 4Q24: Software revenue accelerated to 9% growth;
    • 4Q24: Top line acceleration driven by new business growth of 13% and 3DEXPERIENCE software revenue up 22%;
    • 4Q24: Operating margin stood at 36.3%, an increase of 70 basis points, with diluted EPS of €0.40, up 11%;
    • FY24: Total revenue grew to €6.21 billion with software revenue up 6%, operating margin of 31.9% and diluted EPS of €1.28, up 9%;
    • Initiating guidance for FY25: total revenue growth expected between 6% and 8%, operating margin between 32.6% and 32.9%, up 70-100 basis points, and diluted EPS of €1.36-€1.39;
    • Revealing 3D UNIV+RSES and their AI-based services.

    Dassault Systèmes’ Chief Executive Officer Commentary

    Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

    “2024 has been a year of competitive success, driven by the expansion of 3DEXPERIENCE across industries, domains and geographies, and redefining our strategic partnerships with industry leaders such as Volkswagen, Lockheed Martin, Mahindra & Mahindra, Airbus, and Bristol-Myers Squibb.

    Key to this success is the relevance of 3DEXPERIENCE combining deep industry knowledge and know-how to help customers enhance their value propositions and empower their teams. This will nurture our future growth and build the foundation for broad cloud adoption.

    Building on this strong foundation, we are excited to announce a new era for Dassault Systèmes. We are fully committed to creating UNIV+RSES, a combination of multiple virtual twins, integrating artificial intelligence to connect virtual and real, across all industry solutions. This will unlock new opportunities for our clients and position us as the trusted Global IP Generation and Management Company.”

    Dassault Systèmes’ Chief Financial Officer Commentary

    (revenue, operating margin and diluted EPS (‘EPS’) growth rates in constant currencies,
    data on a non-IFRS basis)

    Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

    “We delivered a strong Q4 in the context of a challenging year, with total revenue up 7%, driven by new business growth of 13% in the quarter. From a product line perspective, this performance was led by Industrial Innovation, up 8%, as a result of the wider adoption of 3DEXPERIENCE, with a focus on manufacturing. At the same time, we saw continued excellent performance in Mainstream Innovation while in Life Sciences, MEDIDATA returned to growth.

    Turning to the bottom line, profitability improved in the quarter with an operating margin of 36.3%, up 70 basis points driven by productivity gains, and EPS increased by a strong 11%.

    For 2024, software revenue growth was 6% and EPS grew by 9%. Operating cash flow came in at €1.66 billion resulting in a net cash position of €1.46 billion, highlighting our capacity for future investments.

    Looking ahead, we are confident in our growth outlook and competitive positioning.

    As such, for 2025 we anticipate total revenue growth between 6% and 8%, operating margin expansion of 70-100 basis points and EPS up 7% to 10%.

    Lastly, we are delighted to hold our Capital Markets Day this coming June, at our headquarters in Paris where it will be the opportunity to discuss our vision for the next horizon.”

    Financial Summary

    In millions of Euros,
    except per share data and percentages    		   IFRS   IFRS
      Q4 2024 Q4 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,754.2 1,643.4 7% 7%   6,213.6 5,951.4 4% 5%
    Software Revenue   1,601.5 1,476.1 8% 9%   5,613.3 5,360.0 5% 6%
    Operating Margin   27.6% 23.2% +4.3pts     21.9% 20.9% +1.0pt  
    Diluted EPS   0.30 0.25 20%     0.90 0.79 14%  
    In millions of Euros,
    except per share data and percentages    		   Non-IFRS   Non-IFRS
      Q4 2024 Q4 2023 Change Change in constant currencies   YTD 2024 YTD 2023 Change Change in constant currencies
    Total Revenue   1,754.2 1,643.4 7% 7%   6,213.6 5,951.4 4% 5%
    Software Revenue   1,601.5 1,476.1 8% 9%   5,613.3 5,360.0 5% 6%
    Operating Margin   36.3% 35.9% +0.4pt     31.9% 32.4% (0.4)pt  
    Diluted EPS   0.40 0.36 9% 11%   1.28 1.20 7% 9%

    Fourth Quarter 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue in the fourth quarter grew by 7% to €1.75 billion, and software revenue increased by 9% to €1.60 billion. Subscription & support revenue rose 7%; recurring revenue represented 75% of software revenue. Licenses and other software revenue increased by 15% to €405 million. Services revenue was down 9% to €153 million, during the quarter.
    • Software Revenue by Geography: Revenue in the Americas increased by 5% to represent 37% of software revenue, led by Aerospace & Defense. Europe (43% of software revenue) grew by 14%, thanks to large deals closed in Aerospace & Defense and Home & Lifestyle. In Asia, revenue increased by 7%, led by Japan and India, while China remained volatile. Asia represented 20% of software revenue at the end of the fourth quarter.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue increased by 8% to €902 million, driven by strong momentum with 3DEXPERIENCE wins and many strategic competitive displacements, led by DELMIA in manufacturing. Industrial Innovation software represented 56% of software revenue.
      • Life Sciences software revenue was flat, at €298 million, accounting for 19% of software revenue. MEDIDATA returned to growth, up 1% in the quarter, highlighting progressive improvement.
      • Mainstream Innovation software revenue increased by 17% to €402 million, with SOLIDWORKS achieving its best quarter since 2022 and CENTRIC PLM maintaining strong momentum. Mainstream Innovation represented 25% of software revenue, during the period.
    • Software Revenue by Industry: Aerospace & Defense, Home & Lifestyle and Industrial Equipment were among the best performers during the quarter.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 22% thanks to major deals signings in Aerospace & Defense and Transport & Mobility. 3DEXPERIENCE software revenue represented 46% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 6% and represented 22% of software revenue during the period. Excluding MEDIDATA, Cloud software revenue increased by 19%.
    • Operating Income and Margin: IFRS operating income rose by 27% at €483 million, as reported. Non-IFRS operating income increased by 9% in constant currencies at €637 million (up 8% as reported). The IFRS operating margin stood at 27.6% compared to 23.2% in the fourth quarter of 2023. The non-IFRS operating margin totaled 36.3% versus 35.9% during the same period last year, up 70 basis points in constant currencies.
    • Earnings per Share: IFRS diluted EPS was €0.30, up 20% as reported. Non-IFRS diluted EPS grew to €0.40, up 9% as reported, or 11% in constant currencies.

    Fiscal 2024 Versus 2023 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue grew by 5% to €6.21 billion. Software revenue increased by 6% to €5.61 billion. Subscription and support revenue rose to €4.49 billion up 6%; recurring revenue represented 80% of total software revenue. Licenses and other software revenue grew by 4% to €1.13 billion. Services revenue came at €600 million, up 2%.
    • Software Revenue by Geography: The Americas increased by 4% and represented 39% of software revenue. Europe rose by 6% and represented 38% of software revenue. Asia grew by 9%, representing 22% of software revenue.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue was up 5% to €3.02 billion and represented 54% of software revenue. DELMIA, ENOVIA and SIMULIA exhibited the strongest performance.
    • Life Sciences software revenue decreased by 1% to €1.14 billion, representing 20% of software revenue.
    • Mainstream Innovation software revenue increased by 13% to €1.45 billion. Mainstream Innovation represented 26% of software revenue.
    • Software Revenue by Industry: Home & Lifestyle, Aerospace and Defense, High-Tech and Industrial equipment displayed some of the strongest performance.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 14%, representing 39% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 24% of software revenue. Excluding MEDIDATA, Cloud software revenue increased by more than 40% versus last year.
    • Operating Income and Margin: IFRS operating income increased by 9% to €1.36 billion, as reported. Non-IFRS operating income increased by 3% as reported, up 4% in constant currencies, to €1.98 billion. IFRS operating margin totaled 21.9% compared to 20.9% in 2023. The non-IFRS operating margin stood at 31.9% in 2024 compared to 32.4% last year.
    • Earnings per Share: IFRS diluted EPS was up 14% as reported, to €0.90. Non-IFRS diluted EPS grew by 7% to €1.28, as reported, up 9% in constant currencies.
    • Cash Flow from Operations (IFRS): Cash flow from operations totaled €1.66 billion, up 6% year over year at reported rate with strong cash conversion and good cash collection, offset by receivables up on higher business activity in the fourth quarter.
    • Balance Sheet (IFRS): Dassault Systèmes had a net cash position of €1.46 billion as of December 31, 2024, an increase of €0.88 billion, compared to €0.58 billion for the year ending December 31, 2023. Cash and cash equivalents totaled €3.95 billion at the end of December 2024. The movements of the year on cash and cash equivalents include the reimbursement for €700 million of the second tranche of the bond issued by the company in 2019.

    Financial Objectives for 2025

    Dassault Systèmes’ first quarter and 2025 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2025 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:

               
          Q1 2025 FY 2025  
      Total Revenue (billion) €1.535 – €1.601 €6.550 – €6.650  
      Growth 2 – 7% 5 – 7%  
      Growth ex FX 3 – 8% 6 – 8%  
               
      Software revenue growth * 3 – 8% 6 – 8%  
        Of which licenses and other software revenue growth * 0 – 9% 3 – 5%  
        Of which recurring revenue growth * 4 – 8% 7 – 9%  
     

    Services revenue growth *

    0 – 4%

    		 3 – 6%  
               
      Operating Margin 31.0% – 31.1% 32.6% – 32.9%  
               
      EPS Diluted €0.30 – €0.32 €1.36 – €1.39  
      Growth 2 – 6% 6 – 8%  
      Growth ex FX 3 – 7% 7 – 10%  
               
      US dollar $1.10 per Euro $1.10 per Euro  
      Japanese yen (before hedging) JPY 155.0 per Euro JPY 155.0 per Euro  
      * Growth in Constant Currencies      

    These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

    The 2025 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2025 principal currency exchange rates above: no significant contract liabilities write-downs; share-based compensation expenses, including related social charges, estimated at approximately €161 million (these estimates do not include any new stock option or share grants issued after December 31, 2024); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €336 million, largely impacted by the acquisition of MEDIDATA; and lease incentives of acquired companies at approximately €2 million.

    The above objectives also do not include any impact from other operating income and expenses, a net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after December 31, 2024.

    Corporate Announcements

    Today’s Webcast and Conference Call Information

    Today, Tuesday, February 4, 2025, Dassault Systèmes will host, from Paris, a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

    Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

    Investor Relations Events

    • First Quarter 2025 Earnings Release: April 24, 2025
    • Second Quarter 2025 Earnings Release: July 24, 2025
    • Third Quarter 2025 Earnings Release: October 23, 2025

    Forward-looking Information

    Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

    The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2023 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2024, available on the Group’s website www.3ds.com.

    In particular, please refer to the risk factor “Uncertain Global Economic Environment” in section 1.9.1.1 of the 2023 Universal Registration Document set out below for ease of reference:

    “In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

    • the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or terminate their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
    • the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and impact Dassault Systèmes’ business, for example, due to stricter export compliance rules or the introduction of new customs tariffs;
    • continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
    • uncertainties regarding the extent and duration of inflation could adversely affect the financial position of Dassault Systèmes; and
    • the sales cycle of Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

    The occurrence of crises – health and political in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively impact Dassault Systèmes’ revenue, financial performance and market position.

    Dassault Systèmes makes every effort to take into consideration this uncertain macroeconomic outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

    In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the first quarter 2025. The Group has assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the full year 2025. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.   

    Non-IFRS Financial Information

    Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2024 Universal Registration Document filed with the AMF on March 18, 2024.

    In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens. With Dassault Systèmes’ 3DEXPERIENCE platform, 350,000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact. For more information, visit www.3ds.com

    Dassault Systèmes Investor Relations Team                        FTI Consulting

    Beatrix Martinez: +33 1 61 62 40 73                                Arnaud de Cheffontaines: +33 1 47 03 69 48

                                                                    Jamie Ricketts : +44 20 3727 1600

    investors@3ds.com

    Dassault Systèmes Press Contacts

    Corporate / France        Arnaud MALHERBE        

    arnaud.malherbe@3ds.com        

    +33 (0)1 61 62 87 73

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

    APPENDIX TABLE OF CONTENTS

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.    

    Glossary of Definitions

    Non-IFRS Financial Information

    Acquisitions and Foreign Exchange Impact

    Condensed consolidated statements of income

    Condensed consolidated balance sheet

    Condensed consolidated cash flow statement

    IFRS – non-IFRS reconciliation

    DASSAULT SYSTÈMES – Glossary of Definitions

    Information in Constant Currencies

    Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

    While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation for comparing IFRS revenue figures as well non-IFRS revenue figures for comparable periods. All information at constant exchange rates is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

    Information on Growth excluding acquisitions (“organic growth”)

    In addition to financial indicators on the entire Group’s scope, Dassault Systèmes provides growth excluding acquisitions effect, also named organic growth. In order to do so, the data relating to the scope is restated excluding acquisitions, from the date of the transaction, over a period of 12 months.

    Information on Industrial Sectors

    The Group provides broad end-to-end software solutions and services: its platform-based virtual twin experiences combine modeling, simulation, data science and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

    These three sectors comprise twelve industries:

    • Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
    • Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, med practices, and Medtech;
    • Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

    Information on Product Lines

    The Group’s product lines financial reporting include the following financial information:

    • Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
    • Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
    • Mainstream Innovation software revenue which includes its CENTRIC PLM and 3DVIA brands, as well as its 3DEXPERIENCE WORKS family which includes the SOLIDWORKS brand.

    Starting from 2022, OUTSCALE became a brand of the Group, extending the portfolio of software applications. As the first sovereign and sustainable operator on the cloud, OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

    GEOs

    Eleven GEOs are responsible for driving development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

    These GEOs are structured into three groups:

    • the “Americas” group, made of two GEO’s;
    • the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEO’s;
    • the “Asia” group, comprising Asia and Oceania and made of five GEO’s.

    3DEXPERIENCE Software Contribution

    To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes uses the following ratio: for software revenue, the Group calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

    Cloud revenue

    Cloud revenues correspond to revenue generated through a catalog of cloud-based solutions, infrastructure as a service, cloud solution development and cloud managed services. They are delivered by Dassault Systèmes via a cloud infrastructure hosted by Dassault Systèmes, or by third party providers of cloud computing infrastructure services. These offerings are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscriptions models or perpetual licenses with support and hosting services.

    New business

    New business is the combination of subscription revenue and licenses & other software revenue.

    DASSAULT SYSTÈMES

    NON-IFRS FINANCIAL INFORMATION

    (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

    Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

    Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

    In millions of Euros, except per share data, percentages, headcount and exchange rates Non-IFRS reported
    Three months ended Twelve months ended
    December 31,

    2024

    		 December 31,

    2023

    		 Change Change in constant currencies December 31,

    2024

    		 December 31,

    2023

    		 Change Change in constant currencies
    Total Revenue € 1,754.2 € 1,643.4 7% 7% € 6,213.6 € 5,951.4 4% 5%
                     
    Revenue breakdown by activity                
    Software revenue 1,601.5 1,476.1 8% 9% 5,613.3 5,360.0 5% 6%
    Of which licenses and other software revenue 405.4 351.9 15% 15% 1,125.2 1,087.6 3% 4%
    Of which subscription and support revenue 1,196.1 1,124.3 6% 7% 4,488.1 4,272.4 5% 6%
    Services revenue 152.8 167.3 (9)% (9)% 600.3 591.4 2% 2%
                     
    Software revenue breakdown by product line                
    Industrial Innovation 901.8 837.3 8% 8% 3,019.6 2,908.0 4% 5%
    Life Sciences 297.7 295.1 1% 0% 1,144.2 1,158.9 (1)% (1)%
    Mainstream Innovation 402.0 343.7 17% 17% 1,449.4 1,293.2 12% 13%
                     
    Software Revenue breakdown by geography                
    Americas 595.0 566.7 5% 5% 2,214.7 2,141.9 3% 4%
    Europe 685.0 601.1 14% 14% 2,150.4 2,027.3 6% 6%
    Asia 321.4 308.4 4% 7% 1,248.1 1,190.8 5% 9%
                     
    Operating income € 636.8 € 589.8 8%   € 1,983.7 € 1,925.6 3%  
    Operating margin 36.3% 35.9%     31.9% 32.4%    
                     
    Net income attributable to shareholders € 530.7 € 487.2 9%   € 1,705.1 € 1,597.9 7%  
    Diluted earnings per share € 0.40 € 0.36 9% 11% € 1.28 € 1.20 7% 9%
                     
    Closing headcount 26,026 25,573 2%   26,026 25,573 2%  
                     
    Average Rate USD per Euro 1.07 1.08 (1)%   1.08 1.08 0%  
    Average Rate JPY per Euro 162.55 159.12 2%   163.85 151.99 8%  

    DASSAULT SYSTÈMES

    ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

    (unaudited; in millions of Euros)

    In millions of Euros Non-IFRS reported o/w growth at constant rate and scope o/w change of scope impact at current year rate o/w FX impact on previous year figures
    December 31,

    2024

    		 December 31,

    2023

    		 Change
    Revenue QTD 1,754.2 1,643.4 110.9 111.8 0.6 (1.6)
    Revenue YTD 6,213.6 5,951.4 262.2 302.0 2.2 (42.0)

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (unaudited; in millions of Euros, except per share data and percentages)

    In millions of Euros, except per share data and percentages IFRS reported
    Three months ended Twelve months ended
    December 31, December 31, December 31, December 31,
    2024 2023 2024 2023
    Licenses and other software revenue 405.4 351.9 1,125.2 1,087.6
    Subscription and Support revenue 1,196.1 1,124.3 4,488.1 4,272.4
    Software revenue 1,601.5 1,476.1 5,613.3 5,360.0
    Services revenue 152.8 167.3 600.3 591.4
    Total Revenue € 1,754.2 € 1,643.4 € 6,213.6 € 5,951.4
    Cost of software revenue (1) (134.1) (124.9) (498.5) (453.9)
    Cost of services revenue (132.7) (131.0) (517.8) (517.1)
    Research and development expenses (327.7) (317.5) (1,286.2) (1,228.3)
    Marketing and sales expenses (456.6) (429.3) (1,704.3) (1,624.5)
    General and administrative expenses (136.4) (124.8) (470.5) (450.6)
    Amortization of acquired intangible assets and of tangible assets revaluation (87.5) (94.9) (361.6) (378.9)
    Other operating income and expense, net 4.2 (39.5) (15.0) (56.2)
    Total Operating Expenses (1,270.9) (1,261.8) (4,854.0) (4,709.5)
    Operating Income € 483.4 € 381.6 € 1,359.6 € 1,241.9
    Financial income (loss), net 22.9 27.8 118.4 59.0
    Income before income taxes € 506.3 € 409.4 € 1,478.0 € 1,300.9
    Income tax expense (95.4) (79.1) (279.9) (250.7)
    Net Income € 410.9 € 330.3 € 1,198.1 € 1,050.2
    Non-controlling interest 1.1 (0.3) 2.1 0.7
    Net Income attributable to equity holders of the parent € 412.0 € 330.0 € 1,200.2 € 1,050.9
    Basic earnings per share 0.31 0.25 0.91 0.80
    Diluted earnings per share € 0.30 € 0.25 € 0.90 € 0.79
    Basic weighted average shares outstanding (in millions) 1,312.7 1,314.1 1,313.3 1,315.1
    Diluted weighted average shares outstanding (in millions) 1,330.0 1,336.6 1,333.4 1,336.8

    (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.

    IFRS reported

     

    		 Three months ended December 31, 2024 Twelve months ended December 31, 2024
    Change (2) Change in constant currencies Change (2) Change in constant currencies
    Total Revenue 7% 7% 4% 5%
    Revenue by activity        
    Software revenue 8% 9% 5% 6%
    Services revenue (9)% (9)% 2% 2%
    Software Revenue by product line        
    Industrial Innovation 8% 8% 4% 5%
    Life Sciences 1% 0% (1)% (1)%
    Mainstream Innovation 17% 17% 12% 13%
    Software Revenue by geography        
    Americas 5% 5% 3% 4%
    Europe 14% 14% 6% 6%
    Asia 4% 7% 5% 9%

    (2) Variation compared to the same period in the prior year.

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED BALANCE SHEET

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    December 31, December 31,
    2024 2023
    ASSETS    
    Cash and cash equivalents 3,952.6 3,568.3
    Trade accounts receivable, net 2,120.9 1,707.9
    Contract assets 30.1 26.8
    Other current assets 464.0 477.1
    Total current assets 6,567.6 5,780.1
    Property and equipment, net 945.8 882.8
    Goodwill and Intangible assets, net 7,687.1 7,647.0
    Other non-current assets 345.5 312.5
    Total non-current assets 8,978.3 8,842.3
    Total Assets € 15,545.9 € 14,622.5
    LIABILITIES    
    Trade accounts payable 259.9 230.5
    Contract liabilities 1,663.4 1,479.3
    Borrowings, current 450.8 950.1
    Other current liabilities 1,147.4 901.0
    Total current liabilities 3,521.5 3,561.0
    Borrowings, non-current 2,042.8 2,040.6
    Other non-current liabilities 900.9 1,174.8
    Total non-current liabilities 2,943.7 3,215.4
    Non-controlling interests 14.1 11.9
    Parent shareholders’ equity 9,066.6 7,834.1
    Total Liabilities € 15,545.9 € 14,622.5

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED CASH FLOW STATEMENT

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    Three months ended Twelve months ended
    December 31, December 31, Change December 31, December 31, Change
    2024 2023 2024 2023
    Net income attributable to equity holders of the parent 412.0 330.0 82.0 1,200.2 1,050.9 149.3
    Non-controlling interest (1.1) 0.3 (1.4) (2.1) (0.7) (1.4)
    Net income 410.9 330.3 80.6 1,198.1 1,050.2 147.9
    Depreciation of property and equipment 49.7 44.0 5.7 191.9 182.4 9.4
    Amortization of intangible assets 89.4 96.8 (7.4) 369.1 387.1 (18.0)
    Adjustments for other non-cash items (75.9) (48.8) (27.0) 37.7 74.7 (37.0)
    Changes in working capital (162.1) (128.8) (33.3) (137.0) (129.2) (7.7)
    Net Cash From Operating Activities € 312.0 € 293.4 € 18.6 € 1,659.8 € 1,565.2 € 94.6
                 
    Additions to property, equipment and intangibles assets (49.1) (42.5) (6.6) (193.4) (145.3) (48.1)
    Payment for acquisition of businesses, net of cash acquired (4.2) (0.5) (3.8) (22.5) (16.1) (6.4)
    Other 0.3 0.1 0.1 24.1 (0.3) 24.4
    Net Cash Provided by (Used in) Investing Activities € (53.1) € (42.9) € (10.2) € (191.7) € (161.6) € (30.1)
                 
    Proceeds from exercise of stock options 4.4 28.5 (24.1) 48.4 67.0 (18.6)
    Cash dividends paid – 0.0 (0.0) (302.7) (276.2) (26.4)
    Repurchase and sale of treasury stock (0.5) 10.6 (11.1) (374.0) (375.4) 1.4
    Capital increase – (0.0) 0.0 – 146.1 (146.1)
    Acquisition of non-controlling interests (0.0) (0.1) 0.1 (3.3) (0.9) (2.4)
    Proceeds from borrowings – 0.0 (0.0) 200.2 20.3 179.9
    Repayment of borrowings (100.0) 0.1 (100.0) (700.9) (28.1) (672.7)
    Repayment of lease liabilities (18.7) (26.3) 7.7 (79.7) (89.4) 9.7
    Net Cash Provided by (Used in) Financing Activities € (114.8) € 12.7 € (127.5) € (1,211.9) € (536.7) € (675.2)
                 
    Effect of exchange rate changes on cash and cash equivalents 150.8 (63.2) 213.9 128.2 (67.5) 195.7
                 
    Increase (decrease) in cash and cash equivalents € 294.9 € 200.1 € 94.8 € 384.3 € 799.3 € (415.0)
                 
    Cash and cash equivalents at beginning of period € 3,657.7 € 3,368.1   € 3,568.3 € 2,769.0  
    Cash and cash equivalents at end of period € 3,952.6 € 3,568.3   € 3,952.6 € 3,568.3  

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Three months ended December 31, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 1,754.2 – € 1,754.2 € 1,643.4 – € 1,643.4 7% 7%
    Revenue breakdown by activity                
    Software revenue 1,601.5 – 1,601.5 1,476.1 – 1,476.1 8% 8%
    Licenses and other software revenue 405.4 – 405.4 351.9 – 351.9 15% 15%
    Subscription and Support revenue 1,196.1 – 1,196.1 1,124.3 – 1,124.3 6% 6%
    Recurring portion of Software revenue 75%   75% 76%   76%    
    Services revenue 152.8 – 152.8 167.3 – 167.3 (9)% (9)%
    Software Revenue breakdown by product line                
    Industrial Innovation 901.8 – 901.8 837.3 – 837.3 8% 8%
    Life Sciences 297.7 – 297.7 295.1 – 295.1 1% 1%
    Mainstream Innovation 402.0 – 402.0 343.7 – 343.7 17% 17%
    Software Revenue breakdown by geography                
    Americas 595.0 – 595.0 566.7 – 566.7 5% 5%
    Europe 685.0 – 685.0 601.1 – 601.1 14% 14%
    Asia 321.4 – 321.4 308.4 – 308.4 4% 4%
    Total Operating Expenses € (1,270.9) € 153.4 € (1,117.5) € (1,261.8) € 208.2 € (1,053.6) 1% 6%
    Share-based compensation expense and related social charges (69.7) 69.7 – (73.2) 73.2 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (87.5) 87.5 – (94.9) 94.9 –    
    Lease incentives of acquired companies (0.4) 0.4 – (0.7) 0.7 –    
    Other operating income and expense, net 4.2 (4.2) – (39.5) 39.5 –    
    Operating Income € 483.4 € 153.4 € 636.8 € 381.6 € 208.2 € 589.8 27% 8%
    Operating Margin 27.6%   36.3% 23.2%   35.9%    
    Financial income (loss), net 22.9 1.1 24.0 27.8 1.0 28.8 (18)% (17)%
    Income tax expense (95.4) (33.2) (128.6) (79.1) (51.3) (130.4) 21% (1)%
    Non-controlling interest 1.1 (2.6) (1.5) (0.3) (0.7) (1.0) N/A 53%
    Net Income attributable to shareholders € 412.0 € 118.7 € 530.7 € 330.0 € 157.2 € 487.2 25% 9%
    Diluted Earnings Per Share (3) € 0.30 € 0.10 € 0.40 € 0.25 € 0.12 € 0.36 20% 9%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Three months ended December 31, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (266.9) 5.0 0.1 (261.8) (255.9) 3.6 0.2 (252.1) 4% 4%
    Research and development expenses (327.7) 18.2 0.2 (309.3) (317.5) 28.5 0.3 (288.7) 3% 7%
    Marketing and sales expenses (456.6) 25.1 0.1 (431.4) (429.3) 20.9 0.1 (408.3) 6% 6%
    General and administrative expenses (136.4) 21.4 0.0 (115.0) (124.8) 20.2 0.0 (104.5) 9% 10%
    Total   € 69.7 € 0.4     € 73.2 € 0.7      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,330.0 million diluted shares for Q4 2024 and 1,336.6 million diluted shares for Q4 2023, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 394.7 million for Q4 2024 (€ 330.0 million for Q4 2023). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2023 filed with the AMF on March 18, 2024. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Twelve months ended December 31, Change
    2024 Adjustment(1) 2024 2023 Adjustment(1) 2023 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 6,213.6   € 6,213.6 € 5,951.4 – € 5,951.4 4% 4%
    Revenue breakdown by activity                
    Software revenue 5,613.3   5,613.3 5,360.0 – 5,360.0 5% 5%
    Licenses and other software revenue 1,125.2 – 1,125.2 1,087.6 – 1,087.6 3% 3%
    Subscription and Support revenue 4,488.1   4,488.1 4,272.4 – 4,272.4 5% 5%
    Recurring portion of Software revenue 80%   80% 80%   80%    
    Services revenue 600.3 – 600.3 591.4 – 591.4 2% 2%
    Software Revenue breakdown by product line                
    Industrial Innovation 3,019.6 – 3,019.6 2,908.0 – 2,908.0 4% 4%
    Life Sciences 1,144.2 – 1,144.2 1,158.9 – 1,158.9 (1)% (1)%
    Mainstream Innovation 1,449.4 – 1,449.4 1,293.2 – 1,293.2 12% 12%
    Software Revenue breakdown by geography                
    Americas 2,214.7   2,214.7 2,141.9 – 2,141.9 3% 3%
    Europe 2,150.4 – 2,150.4 2,027.3 – 2,027.3 6% 6%
    Asia 1,248.1 – 1,248.1 1,190.8 – 1,190.8 5% 5%
    Total Operating Expenses € (4,854.0) € 624.2 € (4,229.8) € (4,709.5) € 683.7 € (4,025.8) 3% 5%
    Share-based compensation expense and related social charges (245.6) 245.6 – (245.8) 245.8 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (361.6) 361.6 – (378.9) 378.9 –    
    Lease incentives of acquired companies (1.9) 1.9 – (2.8) 2.8 –    
    Other operating income and expense, net (15.0) 15.0 – (56.2) 56.2 –    
    Operating Income € 1,359.6 € 624.2 € 1,983.7 € 1,241.9 € 683.7 € 1,925.6 9% 3%
    Operating Margin 21.9%   31.9% 20.9%   32.4%    
    Financial income (loss), net 118.4 3.2 121.6 59.0 29.3 88.2 101% 38%
    Income tax expense (279.9) (117.0) (396.8) (250.7) (164.1) (414.8) 12% (4)%
    Non-controlling interest 2.1 (5.5) (3.4) 0.7 (1.9) (1.2) 190% 187%
    Net Income attributable to shareholders € 1,200.2 € 504.9 € 1,705.1 € 1,050.9 € 546.9 € 1,597.9 14% 7%
    Diluted Earnings Per Share (3) € 0.90 € 0.38 € 1.28 € 0.79 € 0.41 € 1.20 14% 7%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Twelve months ended December 31, Change
    2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 2023

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2023

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (1,016.3) 16.2 0.5 (999.5) (971.0) 15.7 0.8 (954.4) 5% 5%
    Research and development expenses (1,286.2) 76.9 0.9 (1,208.4) (1,228.3) 94.4 1.3 (1,132.6) 5% 7%
    Marketing and sales expenses (1,704.3) 80.8 0.3 (1,623.3) (1,624.5) 73.6 0.5 (1,550.4) 5% 5%
    General and administrative expenses (470.5) 71.7 0.2 (398.7) (450.6) 62.2 0.2 (388.3) 4% 3%
    Total   € 245.6 € 1.9     € 245.8 € 2.8      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,333.4 million diluted shares for YTD 2024 and 1,336.8 million diluted shares for YTD 2023.

    1 IFRS figures for 4Q24: total revenue at €1.75 billion, operating margin of 27.6% and diluted EPS at €0.30; IFRS figures for FY24: total revenue at €6.21 billion, operating margin of 21.9% and diluted EPS at €0.90.  

    Attachment

    The MIL Network –

  • MIL-Evening Report: Coalition’s tax-free lunch plan could cost $250 million or $10 billion – depending on who’s doing the sums

    Source: The Conversation (Au and NZ) – By Dale Boccabella, Associate Professor of Taxation Law, UNSW Sydney

    Rawpixel.com/Shutterstock

    The 1980s are remembered for many things including power suits, the Ford Falcon and the long lunch.

    The last was thanks to a generous interpretation of tax law as it applied to food and entertainment at “business meetings”. Bosses could deduct the cost of lunch with colleagues and contacts for tax purposes.

    The Hawke government ended that when it made sweeping changes to tax law the mid 80s including the introduction of a fringe benefits tax.

    But the long lunch might return under a Coalition government.

    Its estimated cost to the budget, however, swings wildly. The Parliamentary Budget Office puts the figure at A$250 million, while a government-commissioned study by Treasury says it could be between $1.6 billion and $10 billion .

    The different estimates result from varied modelling of how many businesses would seek the deduction and the average amount each would claim. Shadow treasurer Angus Taylor on Tuesday said it would cost less than $250 million. He said the Treasury estimates were “straight nonsense”.

    Angus Taylor said Treasury’s estimates were “straight nonsense”
    Mick Tsikas/AAP

    The actual cost may also depend on whether the deduction would be limited to employees or could include spending on their family members and on clients. These things are not yet clear.

    One thing that is clear, however, is higher spending at hospitality venues should bring in more tax from businesses to offset the lost deduction revenue.

    Whatever rules emerge, enforcing them could be expensive. Some small businesses might be tempted to inflate their expenditure, or simply “reclassify” usual food and drink costs to make them eligible for a deduction.

    Opposition leader Peter Dutton announced the plan late last month. He said small businesses could claim deductions for meals and entertainment. This would be available to businesses with a turnover under $10 million and excluded alcohol.

    The deduction would be capped at $20,000 a year. The policy would run initially for two years and would presumably be reviewed with a view to extending it or making it permanent.

    Dutton gave two reasons for reintroducing the exemption to the FBT. First, it was an incentive that would help retain and reward employees. Employees can get a “little bit of a return”, Dutton said at the time. Second, it would boost hospitality spending.

    Overwhelmingly, this policy is an incentive for small businesses. However, tax policy experts argue the tax system should not use targeted tax breaks to promote a particular economic activity.

    One major concern is this plan runs counter to the reasonably clear boundary our income tax system has established between private consumption expenditure (not deductible) and income producing expenditure (deductible).

    The 1985 deduction denial for entertainment expenditure is a central part of this framework; it squarely recognised the private consumption character of the expenditure and it has stood for 40 years in tax law. Serious analysis should be done before changes are made.

    Also, it might lead to claims of “what about me?” Think, for example, of a small business taxpayer with a turnover of $12 million who misses out. What about an independent contractor who falls short of being a business?

    It looks like the technical way the tax deduction is to be achieved will depend on who benefits from the food and entertainment. If the beneficiary is a customer of the small business, the small business will be given a deduction. If the employee benefits, the small business will get an exemption for the benefit and obtain a deduction for the expenditure.

    Peter Dutton said in his announcement last month the Coalition was doing this in a way to ensure small businesses “are not dragged into a complicated tax jungle”.

    Fringe benefits tax is complicated and compliance costs are high.
    Shakirov Albert/Shutterstock

    The complexity of fringe benefits tax is well known. Compliance costs are high and mistakes are made by taxpayers and tax agents. The complexity is greatest for entertainment spending where income tax interacts with fringe benefits tax and the GST.

    Without knowing the proposed rules, there is a chance a small business incurring entertainment expenditure can avoid being brought into a “tax jungle” if they keep employees and customers at separate entertainment events.

    If they do combine the two, some complications arise, but they are not insurmountable. In any event, tax agents and their clients tend to get used to their specific situation over time. Excluding alcohol does add a slight complication, though, because of the different treatment it will attract.

    Overall, the concerns about this policy are real and substantial. It is worth recalling that there are many examples of poor tax policy getting into legislation, and despite the significant evidence about them, they are not removed.

    The capital gains tax discount is a good example. This discount has overwhelmingly delivered a tax break to high income earners. And the amount of the lost revenue is continually increasing. Let us think before running this risk with the proposed “long lunch” tax break.

    Dale Boccabella 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. Coalition’s tax-free lunch plan could cost $250 million or $10 billion – depending on who’s doing the sums – https://theconversation.com/coalitions-tax-free-lunch-plan-could-cost-250-million-or-10-billion-depending-on-whos-doing-the-sums-247999

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Europe: Minister for Foreign Affairs to visit Copenhagen

    Source: Government of Sweden

    Minister for Foreign Affairs to visit Copenhagen – Government.se

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    Press release from Ministry for Foreign Affairs

    Published

    On 5 February, Minister for Foreign Affairs Maria Malmer Stenergard will travel to Copenhagen for a meeting with Danish Minister for Foreign Affairs Lars Løkke Rasmussen.

    “Sweden and Denmark are close Allies, neighbours and friends. Denmark has just taken over from Sweden as coordinator of the Nordic-Baltic foreign and security policy cooperation format. I look forward to discussing how we can further develop our cooperation to tackle regional and global challenges and advance our positions,” says Ms Malmer Stenergard.

    Topics for the meeting between the foreign ministers will include enhanced regional cooperation, security issues, support to Ukraine and the 25th anniversary of the Öresund Bridge.

    Press contact

    MIL OSI Europe News –

  • MIL-Evening Report: Yes, energy prices are hurting the food sector. But burning more fossil fuels is not the answer

    Source: The Conversation (Au and NZ) – By Vivienne Reiner, PhD Candidate, Integrated Sustainability Analysis group, University of Sydney

    Months out from a federal election, the industry lobby is gearing up in opposition to the Albanese government’s renewable energy targets. In a salvo on Monday, food distributors urged the government to increase fossil fuel production, as a way to purportedly tackle high energy prices.

    It was followed by comments on Tuesday by the Australian Chamber of Commerce and Industry, which also called for fast-tracking of gas expansion to avoid price spikes and blackouts.

    Unfortunately, however, these approaches miss the point. They are a short-sighted response to what is, in large part, a climate-induced problem.

    In fact, evidence suggests burning more coal and gas will only make things worse for many industries, including the food sector.

    More fossil fuels = more industry disruption

    The industry group Independent Food Distributors Australia claims Labor’s energy policies are driving up costs for businesses and, in turn, consumers.

    In comments published in The Australian, the group’s chief executive Richard Forbes said the phase-out of coal-fired energy was too fast and the government’s renewable energy target was too ambitious. The newspaper claimed business owners instead want Labor to support new gas plants and support upgrades to existing coal plants.

    The group represents food manufacturers, suppliers and distributors supporting the food service industry. Its members largely comprise food distribution warehouses operating large refrigerators and freezers.

    First, it’s important to ask whether a focus on renewable energy can be blamed for Australia’s high energy prices. The answer is largely no.

    That aside, would expanding fossil fuel production ultimately be a boon to food distributors? Evidence suggests it would not.

    A study published in 2022, led by my colleagues at the University of Sydney, found that almost one-fifth of total emissions from global food systems were produced by transport and supporting services, such as distribution warehouses. This was equivalent to about 6% of the world’s greenhouse gas emissions.

    Of course, greenhouse gas emissions are warming the climate and leading to worse and more frequent natural disasters. And, as another University of Sydney study showed, these disasters have extensive repercussions for the food industry.

    It found the disruptions would be hardest felt by the fruit, vegetable and livestock sectors, however effects flowed to other sectors such as transport services. Overall, people in rural areas and those from a low-socioeconomic background were most vulnerable, both to food and nutrition impacts, as well as losses in employment and income.

    What’s more, research I led into the economic impact of Australia’s 2019–20 bushfires also reveals the vulnerability of the food ecosystem. The 2024 study, which focused on tourism, found employment and income losses were greatest in the hospitality and transport sectors respectively. Restaurants, cafes and accommodation providers were disproportionately hit by job losses resulting from reduced consumption, including less food being consumed out of home.

    So what does all this mean? Clearly, expanding polluting energy generation to reduce food distribution costs in the short term will not, ultimately, secure the sector’s future.

    Making food distribution more sustainable

    Having said all this, Australia’s high energy prices are undoubtedly a stress point for many Australian businesses. So how can the food sector tackle the problem?

    Energy requirements (and therefore costs and emissions) differ according to the type of food. Fruits and vegetables, for example, are likely to require a temperature-controlled environment. This generates about double the emissions produced by growing the crops themselves.

    Growing and distributing crops that can be transported at ambient temperatures would reduce energy use. This is particularly important given refrigeration needs are likely to increase as the planet warms.

    In terms of broader food movements, 94% of domestic transport happens by road. So, there is a strong case for investing in electric trucks to help guard against energy price hikes.

    The weight of food freight has also been correlated with energy use. Cereals – along with fruit and vegetables, flour and sugar beet/cane – are among the food types transported at high tonnages.

    As my colleagues have noted, there are huge energy savings to be gained if the global population ate more locally produced food, and if food businesses used cleaner production and distribution methods, such as natural refrigerants.

    Energy requirements differ according to the type of food.
    BK Awangga/Shutterstock

    Looking ahead

    Global food systems are crucial to human wellbeing. It’s in everyone’s interests to keep them functioning well and protected from climate-fuelled hazards.

    The choices now facing the food-distribution sector represent one of many tradeoffs Australia must make during its transition to a low-carbon future.

    Will we continue the polluting, business-as-usual approach or will we embrace Australia’s natural advantages in renewable energy, and protect the planet that supports us?

    When it comes to food distribution, will Australia expand gas and coal production as a purported answer to lower energy costs in the short term – or will we move swiftly to decarbonise the sector and buy more local, sustainable food?

    Vivienne Reiner 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. Yes, energy prices are hurting the food sector. But burning more fossil fuels is not the answer – https://theconversation.com/yes-energy-prices-are-hurting-the-food-sector-but-burning-more-fossil-fuels-is-not-the-answer-248996

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: President’s message | February 2025

    Source: Australian Human Rights Commission

    UN decisions confirm Australia’s human rights obligations to refugees and people seeking asylum sent offshore

    The Refugee Convention is the international community’s commitment to work together to protect people fleeing violence and persecution. When Australia agreed to be bound by the Refugee Convention and its 1967 protocol, we agreed to protect refugees who came to our country seeking safety.

    Australia has provided safety and a new life in peace and freedom for hundreds of thousands of refugees and their families. They have contributed richly to our society. But over the years, key parts of our refugee policies have hardened. Instead of protecting people seeking safety who arrive by boat, successive Australian governments have harmed them, detaining them indefinitely and transferring them to remote offshore islands.

    The Commission has long held concerns about these policies and two important recent UN Human Rights Committee decisions confirm that Australia has breached the human rights of people transferred offshore.

    The two cases involved 25 people who came to Australia by boat in 2013 and 2014 seeking safety. They were first detained in Australia and then forcibly removed to Nauru, a tiny island nation some 3,000 kilometres off the Australian coast. They were detained there under arrangements agreed between Australia and Nauru and funded by Australia. In the group, 24 were children at the time. All but one of the group were found to be refugees.

    The UN Committee’s decisions documented the harm experienced by the group and the degree of control exercised by Australia over the arrangements in Nauru. The Committee concluded that their human rights were breached, and that Australia was responsible for the breaches on Nauru. As Committee member Mahjoub El Haiba said: “Where there is power or effective control, there is responsibility. The outsourcing of operations does not absolve States of accountability.”

    The decision is an important vindication for the affected people. The UN Committee called on Australia to compensate the victims, prevent similar violations and align its laws and policies with its human rights obligations. The Australian Government should implement the ruling. The decision is timely as Australia is still transferring people to Nauru. Around 100 people who came to our country seeking safety are currently on Nauru after being transferred there by Australia.

    The UN decision, which drew on the Commission’s work, is also internationally significant as other countries look to copy aspects of Australia’s harmful policies.

    Instead of prompting a race to the bottom, Australia should be taking the lead on protecting people fleeing violence and persecution and encouraging others to follow our example.   
     

    Hugh de Kretser

    MIL OSI News –

  • MIL-OSI Australia: (WIP) Growing ESG complexity in the year ahead: what companies can expect

    Source: Allens Insights

    ESG continues to evolve 10 min read

    As stakeholder expectations on Environment, Social and Governance (ESG) issues continue to evolve, we are seeing a movement build from voluntary standards to domestic regulation. Concurrently, the opposition to ESG-related action is adding to uncertainty and complexity when it comes to legal compliance and alignment with global high watermarks.

    In this Insight, we take stock of the ESG journey and reflect on the trends to look out for in 2025 and beyond.

    Key takeaways

    • Growing uncertainty around upcoming ESG legislation is expected to raise complexity and costs for companies in achieving regulatory compliance. The shift from a more global consensus on climate and environmental commitments, ESG due diligence and reporting requirements may result in deeper fragmentation of laws across jurisdictions, presenting new challenges for companies navigating competing pro- and anti-ESG regulatory trends.
    • Companies that are revisiting their sustainability and ESG-related claims and commitments amid heightened reputational and legal exposures over ‘greenwashing’ risk will need to continue to balance accuracy and appropriateness of public commitments with the risk of being perceived as laggards by their stakeholders, including scrutiny of perceived ‘greenhushing’ or ‘greywashing’.
    • Litigation risk remains a key challenge for businesses navigating ESG obligations and evolving stakeholder expectations. Potential claims are expanding to include directors’ duties and emerging intersectional ESG issues, including nature and biodiversity, human rights and plastics. Non-judicial forums such as complaints to OECD National Contact Points are likely to remain attractive for stakeholders seeking behavioural change.
    • Regardless of whether companies and their directors elect to recalibrate their ESG policies, companies should ensure they are satisfied that their chosen course of action is in the best interests of the company, and retain evidence to support that view and regarding the reasonable grounds for key decisions.

    Who in your organisation needs to know about this?

    Boards; general counsel and legal; sustainability; regulatory and compliance; cultural heritage and communities teams; external affairs.

    A recap of 2024

    New ESG legislation, an uptick in regulatory enforcement and the rising expectations of investors and other stakeholders are elevating ESG issues to the top of boardroom agendas.

    In 2024, we saw the multi-jurisdictional trend of new ESG due diligence and reporting laws continue in places like the EU and California, adding to recent regulatory developments in Australia, the US, the UK, Canada and elsewhere. Australian companies have been responding, even if not directly in scope, as these new legal requirements flow through from customers and clients.

    Combating alleged ‘greenwashing’ and ‘bluewashing’—being claims that environmental and social disclosures are false, misleading or have no reasonable basis—has become an enforcement priority for Australia’s corporate regulators. In November 2024, the Australian Securities and Investments Commission (ASIC) confirmed greenwashing and misleading conduct involving ESG claims would remain an enforcement priority in 2025.

    Activists and strategic litigants have deployed strategies in and out of the courtroom seeking to influence corporate behaviour. While the majority of cases have commenced in the US, Australia consistently comes a close second, with cases increasingly focusing on the intersection between the environment and human rights, including the rights of First Nations peoples.

    Alongside these developments, the backlash against ESG action increased in 2024 and was a key issue during elections in the US and across the EU. In the US, laws have been passed restricting ESG-related investment decisions, which have impacted investment flows, while legal challenges have delayed the implementation of the US Securities and Exchange Commission’s climate-related financial disclosure rules. Some financial institutions and asset managers are moving away from membership of voluntary ESG commitments, such as the Net Zero Asset Managers and Net Zero Banking Alliance initiatives.1 

    Looking ahead to 2025

    Deregulation may increase uncertainty and complexity for companies

    The conversation around deregulation is already becoming more pronounced in 2025, in light of recent political developments and as ESG regulatory changes take effect.

    Upon commencing his second term in office on 20 January 2025, President Trump’s executive orders have so far included:

    • withdrawing the US from the Paris Agreement (for a second time); and
    • revoking the country’s financial commitments under the United Nations Framework Convention on Climate Change and the US International Climate Finance Plan.

    His nominations to environmental protection and corporate regulatory agencies may foreshadow a further rollback of measures on:

    • anti-pollution;
    • emissions reduction; and
    • climate-related financial disclosures.

    The wave of new executive orders has already sought to wind back the Biden Administration’s ESG policies (including those encouraging the uptake of electric vehicles).

    In the EU, the outcome of a new omnibus proposal aiming to streamline various Green Deal sustainability regulations is due to be released by 26 February 2025. It is possible the proposal will include delays in implementation, while a recently leaked European Commission strategy paper for streamlining the Commission’s regulatory processes suggests there may be a greater focus on reducing the regulatory burden for small and medium-sized companies.

    This uncertainty around upcoming ESG legislation is likely to mean increased complexity and costs for companies associated with achieving regulatory compliance. A move away from a more global consensus on ESG due diligence and reporting requirements may result in deeper fragmentation of laws across jurisdictions. Companies will continue to face challenges in navigating these pro- and anti-ESG regulations across different jurisdictions.

    At the same time, disasters such as the Los Angeles fires will keep ESG issues in the public consciousness, and deregulation is unlikely to be aligned with the evolving high watermark to which stakeholders are holding companies to account. We anticipate an increase in ESG litigation as activists continue to pursue behavioural change by governments and companies in the courts.

    ESG as a ‘dirty word’: greenhushing and greywashing

    While many companies continue to take voluntary action on ESG issues, some are revisiting their ESG commitments in light of the increasingly contested and politicised environment, as well as the heightened reputational and legal exposures associated with sustainability and ESG-related public claims and commitments.

    The paring back of existing commitments will continue to be scrutinised by regulators and civil society, and we anticipate that allegations of ‘greenhushing’ or ‘greywashing’ may develop.

    ‘Greenhushing’ refers to deliberately withholding information about sustainability goals and achievements.

    ‘Greywashing’ refers to setting strategies and policies that are too watered down, unambitious, qualified or ambiguous to result in meaningful change. 

    ASIC Chair Joe Longo has described greenhushing as ‘just another form of greenwashing’, which ‘risks misleading by omission’, referring to the annual Net Zero Report issued by South Pole which highlighted a substantial decrease in climate communications across a number of sectors.

    Companies will need to continue to balance accuracy and appropriateness of commitments while maintaining flexibility in the changing political environment, with the risk of being perceived as laggards by their stakeholders.

    The ESG litigation field expands

    Despite the mixed successes of recent ESG claims, we expect activists will continue to pursue strategic litigation to extract concessions from governments and companies and effect behavioural change.

    ESG claims have expanded beyond the traditional higher-emitting sectors. Stakeholders are looking more widely at targets and potential claims with the objective of disrupting capital flows, including scrutinising companies’ exposure through their financing activities and broader value chains. We expect that financial institutions will remain a target of stakeholder scrutiny, and that claims and complaints will continue to explore the intersection between climate change and issues such as nature and biodiversity, human rights and plastics. The use of new technologies such as AI and carbon capture and storage (or CCS) is also attracting activist scrutiny.

    In 2025, decisions from the International Court of Justice and Australian courts may clarify legal obligations related to climate change, particularly in tort law, potentially impacting future corporate liability for alleged climate change impacts.

    Non-curial avenues such as the OECD National Contact Points and UN Special Procedures are already a well-tested forum on ESG issues. Complainants are likely to be interested in exploring the recent updates to the OECD Guidelines on matters such as climate change and biodiversity. The Australian National Contact point may also be utilised by stakeholders in response to the three-year modified liability regime under the new mandatory climate-related financial reporting regime introduced from 1 January 2025, which prevents private litigation in respect of certain ‘protected statements’ for a period of time.

    International discussions will continue to influence private actors

    Despite failures by state parties to reach agreement at 2024’s UN biodiversity and plastic forums, discourse surrounding the negotiations appears to be sharpening corporate and civil society focus, including through an uptick in plastics-related litigation and campaigns. The next UN biodiversity COP taking place in Rome in February this year, and international negotiations will continue on a treaty to address the full lifecycle of plastic—from production to design and disposal.

    Another emerging focus area for companies is Indigenous Cultural and Intellectual Property (ICIP), particularly in the life sciences and mining sectors. A new treaty on genetic resources and traditional knowledge was concluded at the international level in 2024 under the auspices of the World Intellectual Property Organization (WIPO), which will require inventors to disclose the source of genetic resources and associated traditional knowledge in patent applications. After many years of diplomatic efforts by countries including Australia, this is the first multilateral treaty specifically relating to traditional knowledge, and efforts continue to protect traditional cultural expressions at the international level. It remains to be seen how this significant step at the international level will affect the discourse concerning the need for sui generis ICIP legislation in Australia.

    Subject matter trends 

    Implications of US exit from international climate change commitments and shift in domestic energy policy

    The United States’ withdrawal from the Paris Agreement introduces a new element of uncertainty for global efforts to address climate change. It remains to be seen whether the Trump Administration’s decision will leave the US as an outlier in international climate and energy policy, or if it may have a broader chilling effect on global cooperation on climate change and other emerging environmental issues.

    President of the European Commission, Ursula Von der Leyen, has already reaffirmed that ‘Europe will stay the course’ and reaffirmed the EU’s commitments to the Paris Agreement. A net zero-focused bipartisan alliance of 24 State Governors has also vowed to sustain and advance climate action in the US.  

    The new US administration has also embarked on a significant gear change in US domestic energy policy.

    • Executive orders have been effected to declare a ‘national energy emergency’.
    • This expedites the permitting of oil and gas projects (specifically in Alaska) and temporarily suspends new federal offshore wind leasing pending an environmental and economic review.
    • The US Federal Reserve has also withdrawn from the Network for Greening the Financial System—an international group of central banks, including the Reserve Bank of Australia, that analyses the economic fallout from climate change.
    • The Office of Management and Budget also ordered a temporary pause on grant funding by federal agencies for activities implicated by the new executive orders, including renewable energy and climate and atmospheric research programs. The order was subsequently rescinded after an urgent legal challenge by non-profits successfully sought an injunction.

    These changes are likely to lead to legal challenges, further adding to the uncertainties faced by businesses navigating the new energy policy environment. As the Trump Administration seeks to encourage investment in the oil and gas sectors, we also expect stakeholders to intensify their scrutiny of companies’ exposure to higher-emitting projects.

    Methane emissions

    International initiatives to reduce methane emissions have been gaining industry and national support:

    • the World Bank’s Global Flaring and Methane Reduction (GFMR) Partnership is now active in over a dozen countries and has been endorsed by 57 companies.
    • the Global Methane Pledge launched at COP26 in 2021 by the EU and US has received 159 country endorsements as of 2024, including Australia’s.

    Several countries have moved to impose stricter regulations on methane emissions. In May 2024, the EU introduced its Methane Regulation requiring increased monitoring, detection and reduction of methane emissions. Additional import restrictions will extend to gas imported into the Eurozone from 2027. In November 2024, the United States Environmental Protection Agency announced new regulations on the emission of methane from crude-oil and natural gas facilities.

    New and expanded gas projects (and related infrastructure and supply chains) remain a focus of campaigning and shareholder activism on fugitive methane emissions by organisations such as Market Forces.

    Biodiversity and nature

    Countries are moving to implement their national commitments under the Kunming-Montreal Global Biodiversity Framework.

    • Australia’s Nature Repair Market is set to open for business in 2025, operating in a similar fashion to the existing carbon market, to incentivise projects to protect and restore the environment through biodiversity credits.
    • The EU’s Regulation on Nature Restoration entered into force in August 2024, and the Canadian Government has moved to legislate a Nature Accountability Bill as part of its 2030 Nature Strategy released in June 2024.
    • However, the future of the Canadian bill is now uncertain due to the suspension of all parliamentary business after Parliament was prorogued on 6 January 2025 following the resignation of Prime Minister Justin Trudeau. While Canada’s next general election is scheduled for 20 October 2025, opposition parties have foreshadowed a no-confidence motion when the next parliamentary session resumes on 24 March which, if successful, may trigger an early vote.

    Several jurisdictions are also moving to address deforestation in supply chains, with measures including import restrictions and due diligence requirements.

    • The EU’s Regulation on Deforestation-free Products will enter into effect from 30 December 2025 and require certain commodities and derived products to be ‘deforestation-free’ if placed, made available on or exported through the EU common market.

    The UK is also developing its own Forest Risk Commodity Regulation,2 which would also impose commodity-based restrictions and due diligence requirements.

    Plastics pollution and the circular economy

    A growing number of jurisdictions are introducing restrictions on plastic products, including single-use and microplastics.

    • The EU’s Single Use Plastic Directive came into force in 2024, and the European Commission has proposed additional measures to prevent the unintentional release of plastic pellets.
    • In the US, the State of California has commenced proceedings against Exxon Mobil and PepsiCo Inc in relation to allegedly misleading the public regarding plastics pollution.
    • In Australia, the ACCC commenced enforcement proceedings against Clorox Australia Pty Ltd in April 2024 for alleged greenwashing over claims relating to its ‘GLAD’ plastic bag products.
    The right to water

    From the Murray-Darling Basin to the Great Barrier Reef and beyond, we expect to see preservation of, and access to, water resources increase in priority for stakeholders as an issue that crosses geographical and jurisdictional boundaries.

    Access to water and sanitation is recognised as a fundamental human right by the UN General Assembly, and stakeholders are raising issues around water security, water quality, contamination by microplastics and Per- and Polyfluoroalkyl Substances (PFAS) chemicals, access to water resources for agriculture, and ensuring First Nations peoples’ interests and connection to water are taken into account.

    Modern slavery reporting reforms

    In December 2024, the federal Attorney-General’s Department (AGD) published the Government’s response to the 2023 statutory review of the Modern Slavery Act 2018 (Cth) (MSA). The response follows the appointment of Australia’s first national Anti-Slavery Commissioner, who is expected to lead in the implementation of modern slavery reporting reforms.

    The Government has agreed (in full, in part, or in principle) to 25 of the 30 recommendations from the review, including the need to strengthen the compliance and enforcement framework under the MSA. The Government agreed in principle to the introduction of a penalty regime—details are not yet available, but the Government is expected to consult with stakeholders in 2025.

    One issue that remains unresolved is the status of proposals for mandatory human rights due diligence (HRDD) by reporting entities under the MSA. The Government has ‘noted’ the recommendation to introduce HRDD; however, it has indicated that the AGD will engage with stakeholders on HRDD as part of the next stage of implementation.

    The introduction of mandatory HRDD would align Australia with a number of jurisdictions that have introduced supply chain due diligence requirements, most notably the EU’s Corporate Sustainability Due Diligence Directive adopted by the European Parliament in 2024. The Canadian Government has proposed new supply chain due diligence legislation, while a parliamentary review of the UK’s modern slavery legislation has recommended the introduction of due diligence obligations.

    The timeline for legislative amendments to the MSA may be complicated by the federal election, which is due to occur before 17 May 2025.

    Navigating AI in the employment context

    As AI technologies advance, companies will need to navigate the social issues raised due to the use of AI in the workplace.

    Already, we are seeing increasing use of AI in hiring practices such as the screening of job applications. Based on how the algorithm was trained, AI can perpetuate biases, potentially leading to harmful or discriminatory outputs for individuals, groups or communities and arguably resulting in adverse human rights impacts.

    In the US, we are seeing court cases alleging unlawful discrimination where AI tools have been used for hiring, insurance claims and rental applications.3 We anticipate Australian businesses may face similar claims if AI is used without accounting for the risk of inherent bias.

    The rate of change brought by advancements in AI technology is not only front of mind for employers, but also for employees concerned about its implications. In October 2024, it was reported that Cbus and its employees had agreed to a first-of-its-kind enterprise agreement dealing with protections for employees if or when the super fund introduces AI technologies. The agreement contains an agreed definition of AI, and provides that Cbus must consult with staff on any changes that impact them in relation to AI.

    Rights of First Nations peoples

    In 2025, the Joint Standing Committee on Aboriginal and Torres Strait Islander Affairs is set to continue its inquiry into the Truth and Justice Commission Bill 2024. The Bill seeks to establish a Commission to make recommendations to Parliament on historic and ongoing injustices against First Nations Australians. The Australian Law Reform Commission is also taking submissions as part of its review of the ‘future acts’ regime in the Native Title Act 1993 (Cth), with a final report to be delivered by December 2025. For more, see our Insight.

    There are increasing demands on industry to consult First Nations stakeholders in their decision-making and operations, and to engage in benefit-sharing with Traditional Owners, with an emerging focus on the clean energy sector. The First Nations Clean Energy Network has published Best Practices Principles to help First Nations communities in Australia to share in the benefits of renewable energy projects, including calling for Free, Prior, and Informed Consent (FPIC) standards to apply throughout the lifecycle of projects.

    We expect that international, ‘soft law’ standards will continue to evolve. For example, the International Council of Mining and Metals (ICMM) recently updated its Indigenous Peoples and Mining Position Statement to emphasise the responsibility of mining companies to achieve FPIC through meaningful engagement and good faith negotiation with Traditional Owners. Although the new standard goes beyond the current position in the Native Title Act and many cultural heritage laws in Australia, it is possible it will become a benchmark for mining companies in Australia—see our Insight.

    Addressing misconduct impacting First Nations peoples also remains an enforcement priority for ASIC.

    Diversity and inclusion

    Diversity, equity and inclusion policies and initiatives have also become the subject of backlash in the United States through three executive orders signed by President Trump, with one executive order foreshadowing regulatory action to ‘encourage’ private sector employers to dismantle diversity programs that have been based on federal anti-discrimination law.

    This backlash has already placed diversity on the political agenda in Australia, and the discussion around diversity policies and initiatives is likely to increase in the lead-up to the federal election this year.

    Company culture and governance issues in the spotlight

    Corporate culture is an ongoing boardroom issue and recent examples underscore the importance of accountability, transparency and strong and ethical corporate governance.

    • Cultural concerns: in the wake of federal Respect@Work reforms, a number of prominent Australian brands have been in the spotlight regarding whistleblower complaints on cultural issues. Widespread media reporting has led some companies to launch internal investigations to respond to shareholder concern and address reputational damage in the community.
    • Regulatory scrutiny: in addition to reputational damage, there is also now a real prospect of scrutiny from regulators in relation to corporate cultural issues. In its updated enforcement priorities announced on 14 November 2024, ASIC reaffirmed its commitment to addressing governance and directors’ duties failures as an enduring enforcement priority for 2025. As an example, ASIC commenced proceedings against Regional Express Holdings Limited and several of its directors for engaging in misleading and deceptive conduct and for contraventions of continuous disclosure obligations in relation to ASX announcements about the company’s financial position prior to entering into voluntary administration in July 2024.
    Navigating complexities in AI and ESG reporting

    As ESG reporting obligations expand in Australia and overseas, AI will become an increasingly attractive tool for companies seeking to reduce the time needed for data gathering and drafting.

    However, the use of AI may also present legal, regulatory and reputational risk:

    • Environmental impacts associated with the training and use of AI models. This includes increased demand for electricity consumption; the water footprint associated with training and maintaining AI models; and electronic waste generation.
    • Susceptibility to bias, which may result in errors that could lead to misleading statements or discriminatory outputs.
    • Privacy concerns from the use of sensitive or personal information without consent. Privacy law reforms introduced in late 2024 require companies to disclose when they will be using AI automated decision-making (see our Insight).
    • Human rights implications such as discrimination or potential harm to vulnerable groups such as children or workers in the AI supply chain.
    • Regulatory scrutiny on the use of AI, as indicated by the increased regulatory guidance available to companies, including Australia’s new Voluntary AI Safety Standard, the European Parliament’s AI regulations, and ASIC’s report on ‘Governance arrangements in the face of AI innovation’.

    Actions you can take now

    • Regardless of whether ESG policies are recalibrated in light of growing uncertainty around legislative frameworks and the anti-ESG backlash, companies and directors should ensure they are satisfied that their chosen course of action is in the best interests of the company, and gather evidence to support that view.
    • The influence of new legislation is being felt on companies even where not directly in scope. Consider adopting a higher water mark approach appropriate to the company’s risk profile and appetite to future proof against evolving stakeholder expectations and regulatory requirements.
    • Understand the scope of the company’s voluntary commitments and what these entail, including in international law.
    • When refreshing policies and procedures, look at these through the lens of emerging areas of focus. Consider if your policies fit for purpose and reflect emerging risk areas.
    • Consider the role of legal—privilege can be a useful tool where appropriate, given the regulatory and risk environment.

    MIL OSI News –

  • MIL-Evening Report: Parliament condemns antisemitism, but can’t avoid the blame game

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

    Independent Allegra Spender spearheaded a condemnation of antisemitism by federal parliament – but the debate was mired in partisanship.

    The opposition tried to prevent the government bringing on the Spender motion in the House of Representatives, because it said it wanted something stronger and would not be able to amend the motion.  

    Coalition speakers repeatedly used the debate to attack the government for not, in its view, doing enough to combat antisemitism, particularly after the pro-Palestine demonstration at the Opera House in the wake of the Hamas atrocities of October 7 2023.

    Eventually the Spender motion was passed without dissent. It said the House:

    • deplores the appalling and unacceptable rise in antisemitism across Australia – including violent attacks on synagogues, schools, homes, and childcare centres

    • unequivocally condemns antisemitism in all its forms and

    • resolves that all parliamentarians will work constructively together to combat the scourge of antisemitism in Australia.

    Opposition Leader Peter Dutton said Spender had agreed to delete words in an earlier version that would have condemned “all similar hatred directed to any groups in our community”.

    “The member agreed to that form of words being struck out because we don’t think that was necessary. And we also think it is inexplicable to try and mount the argument that this sort of hatred and this sort of racism and this sort of antisemitism is being conveyed against any other pocket of the Australian community.”

    Dutton said the opposition had voted against the government bringing on the motion “because it stopped us from moving amendments […] which would have strengthened the motion and provided stronger support to the community.”

    Spender said combating antisemitism was not just a matter of laws but also of culture.

    “We must lead by example. The message from our parliament today must be unambiguous. We will not stand for hate. We will not stand for abuse.

    “We will not abide intimidation. We will not tolerate the terrorising of any part of our community. We are united against antisemitism. Words must be backed by action, but words matter, particularly those of the parliament.”

    Spender will seek to strengthen the anti-hate bill currently being considered by the parliament.

    The motion was seconded by Jewish Labor MP Josh Burns, who said: “the last six months have been like no other I’ve experienced in this country. And my grandparents came to this country looking for a safe haven for the Jewish people. And over the last six months, we’ve seen cars set alight. We’ve seen synagogues burnt down. We’ve seen Jewish homes and businesses marked. And we have seen childcare centres being burnt down.”

    Anthony Albanese said: “We know that antisemitism has given dark shadows across generations. I say to Jewish Australians, live proudly, stand tall, you belong here and Australia stands with you.”

    Former Minister for Indigenous Australians, Linda Burney, accused a previous Coalition speaker, Andrew Wallace, who criticised the government, of being “corrosive” on “an issue where we should be coming together”.

    In the Senate, crossbencher Jacqui Lambie moved the same motion as Spender. The opposition unsuccessfully tried to amend it to embrace mandatory sentencing. A member from independent Lidia Thorpe was also defeated and the motion was passed on the voices.

    The Conversation

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

    – ref. Parliament condemns antisemitism, but can’t avoid the blame game – https://theconversation.com/parliament-condemns-antisemitism-but-cant-avoid-the-blame-game-249015

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Report of the Online Safety Act Review released

    Source: Australian Ministers 1

    The Minister for Communications, the Hon Michelle Rowland MP, today tabled the Report of the Statutory Review of the Online Safety Act 2021.
     
    The independent review examined the operation and effectiveness of the Act and considered whether additional protections are needed to combat online harms, including those posed by emerging technologies.
     
    The report makes 67 recommendations to strengthen Australia’s online safety laws, including changes to existing complaints schemes for those experiencing online harms, stronger penalties for non-compliance by online services, increased transparency requirements for online services, and changes to governance arrangements for the Office of the eSafety Commissioner.
     
    In line with a key recommendation of the review, the Government has already committed to legislate a Digital Duty of Care. This will put the legal onus on platforms to keep users safe and help prevent online harms.
     
    The Albanese Government announced the independent review in November 2023, bringing forward its commencement by a year.
     
    Completed by Ms Delia Rickard PSM, the review was informed by extensive stakeholder engagement, including 72 meetings with industry, civil society, academia, law enforcement, and domestic and international government bodies. The review also considered over 2,200 responses submitted through public consultation.
     
    The Government is continuing to carefully consider all recommendations put forward in the report and will respond in due course.
     
    Read the final report: www.aph.gov.au/Parliamentary_Business/Tabled_Documents/9184

    Quotes attributable to the Minister for Communications, the Hon Michelle Rowland MP:
     
    “The Albanese Government is committed to ensuring the online world is a safe experience for all.
     
    “Our Government has been proactive in ensuring our legislative framework remains fit-for-purpose. That’s why we’ve wasted no time in committing to legislate a Digital Duty of Care to place the onus on online services to keep their users safe.
     
    “We are committed to strengthening our online safety laws to protect Australians – particularly young Australians.”
     

    MIL OSI News –

  • MIL-OSI USA: ICYMI: Tuberville Joins “The Megyn Kelly Show” to Advocate for Senate Leadership to Schedule Title IX Legislation for a Vote

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) joined “The Megyn Kelly Show” to discuss the need for the Senate to quickly bring his Protection of Women and Girls in Sports Act, or S.9, to the floor for a vote. The U.S. House of Representatives passed similar legislation on a bipartisan basis in January. 

    Senator Tuberville’s interview comes ahead of National Girls and Women in Sports Day on Wednesday, February 5.

    Excerpts from Senator Tuberville’s interview can be found below, and his full interview can be viewed here.

    KELLY: “Senator Tommy Tuberville of Alabama has been on the frontlines working to pass the legislation and he has been working for years—I went back and looked at the number of times he’s tried to bring this up when nobody wanted to hear from him, when it appeared to have no chance of passing, he brought it up, he brought it up again, he brought it up again. He has been like a dog with a bone on this—a true ally to women and girls everywhere, and there’s a reason, I think. He’s got a historic background in the sports world as a former head coach for several college football teams, Senator Tuberville—Coach Tuberville—welcome to the show.”

    TUBERVILLE: “Thank you, Megyn. Thanks for having me on. And what a great subject we’re going to talk about.”

    KELLY: “I’m your huge fan at like the number of times you have tried to push this boulder up the hill really makes me respect you, even though you knew there was no way a Democrats-controlled Senate was going to give you a vote. But then, GOP wins control of the Senate—and what we’ve seen since you guys got control of the House and the Senate is the House passed it, and it got massaged a bit, they passed it again and said ‘Yeah, okay here we go, back to you guys in the Senate’ and we’ve been waiting—I’ve been waiting to see a vote by the GOP-controlled Senate on this thing because it’s much better—notwithstanding Trump’s executive orders—if it can become law. Law that can’t just be undone by an executive order four years from now. So why aren’t we seeing a vote?”

    TUBERVILLE: “Well, exactly right, Megyn. A lot of people don’t realize that an executive order, which President Trump signed almost a couple of weeks ago defining gender, by the way, and he even come out and said, ‘Listen, we have to have a bill within thirty days,’ because if you don’t know this, executive orders only last as long as that president’s there. So, we got some work to do. This is the third time—third time’s the charm. […] 79% of the people in this country—Republican and Democrat—say it is wrong for men or boys to participate in women’s sports. We’ve got the majority on our side. As you said—we’ve got to get it to the floor. John Thune told me he’s going to get it to the floor. He hasn’t done it. Now, it’s time to put up or shut up. We’ve got to get it on the floor so people can see. If it’s not going to pass, we’ll do it again, but we’ve got to get people on the record because this is something that’s very dear to the heart of all parents across the country and it’s dead wrong.”

    KELLY: “Would John Thune not want it to come to the floor—he certainly wouldn’t want to protect Democrats—he must know of Republicans who are not ready to vote for this thing.”

    TUBERVILLE: “Well, leadership is actually co-sponsors of this, and I think at the end of the day, John Thune’s been overwhelmed. Obviously, you’ve got President Trump breathing down his neck, you’ve got the […] House pushing things over—we’re trying to do reconciliation. The Laken Riley Act needed to be passed because it was so important with the border being under attack and we’re losing so many young men and women to fentanyl and all those things. But now is the time to act on this. We can’t wait any longer. 50 years of Title IX—it has been decimated by Biden and the Democrats and all the far-left progressives. I grew up in this business of coaching. I saw what it did for young girls, older girls—it’s created leaders across this country.” […]

    KELLY: “Is there some belief that this can’t pass, and they only want wins right now? They only want to put legislation on the floor that can get through?” 

    TUBERVILLE: “Yeah, and put yourself in John Thune’s position and the leadership of the Senate. They’re looking at things ‘Hey, let’s win early. Let’s get on the scoreboard early.’ But the problem with this is we’ve already won because President Trump pushed this out there. Now’s the time to put pressure on the Democrats. Time and time again, 4 or 5 times if we have to, even before the next election—get them on [record on] the vote that they’re going to vote against girls and women [by] having them participate against men and boys. It’s devastating to sports. It’s devastating to the lives of young people—there has been rapes in dressing rooms and showers. […] It’s going to become a common thing if you don’t stop this now. You let this landslide keep going—we’re going to have huge problems getting it stopped. So, it’s important that we stop it now, President Trump’s hot on the trail on this with his Executive Order. […] 50 years ago was the first time we ever said, ‘Okay, let’s give women […] an opportunity.’ […] And it’s the best thing that ever passed out of this place we call ‘the Swamp’ here in Washington, D.C. But again, we’re going to keep fighting for it…I’m going to continue to push leadership—John Thune, John Barrasso—they’re on my side on this, but again, you might have hit the nail on the head a while ago when you said, ‘They might just want to win.’ Well, we’ve had two losses in the last two votes that weren’t Laken Riley. So hey, let’s not worry about winning or losing on this—let’s get it out there where people can see what’s going on.’”

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI USA: McConnell Proud to Confirm Wright as Energy Secretary

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell

    Washington, D.C. – U.S. Senator Mitch McConnell (R-KY) issued the following statement today regarding the confirmation of Chris Wright as U.S. Secretary of Energy:

    “From day one, President Biden worked relentlessly to kneecap American energy production, both onshore and offshore. Secretary Wright’s singular focus on restoring affordable domestic energy is a welcome change after four years of policies that put ideology and politics ahead of American workers. I look forward to working with Secretary Wright to move our country toward greater energy dominance and to support the agency’s job-creating policies, like their work at the Department of Energy site in Paducah, Kentucky.”

    MIL OSI USA News –

  • MIL-OSI USA: 01.30.2025 Sen. Cruz Introduces Education Freedom Scholarships and Opportunity Act

    US Senate News:

    Source: United States Senator for Texas Ted Cruz

    WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) introduced the Education Freedom Scholarships and Opportunity Act. The legislation expands education options and would provide a federal tax credit for individuals and businesses to donate to nonprofit scholarship funds for individual students’ education.
    Upon introduction, Sen. Cruz said, “Every child deserves the chance to succeed. The Education Freedom Scholarships and Opportunity Act ensures students have access to quality education regardless of their income or background. This legislation will empower families and foster private investment through a dollar-for-dollar tax credit, expanding opportunities for all American students.”
    This bill is also cosponsored by Sen. James Lankford (R-Okla.).
    Read the bill text here.
    BACKGROUND
    Sen. Cruz has led this effort to provide expand education options available to all students since 2019. Sen. Cruz has also previously introduced this legislation in 2021 and 2023.
    The Education Freedom Scholarships and Opportunity Act:

    Encourages States to Opt In: Opting in to the freedom scholarship approach to education will reduce federal control over education and return the power to government more accountable to parents.

    Is State Directed: States maintain the authority to create a program that works for them. States can decide which students are eligible for the scholarship credit, what constitutes eligible educational expenses and eligible educational providers, and more.

    Encourages Workplace Training Education: There is more than one pathway to success, and our rapidly-changing 21st century economy means that workers need new skills to compete. In addition to elementary and secondary education scholarships, this bill allows for scholarships related to career and technical education, apprenticeships, certifications, and other forms of workforce training for postsecondary students.

    Prohibits Federal Control of Education: Clarifies that nothing in this act shall be construed to permit, allow, encourage, or authorize any increased regulation or control over any aspect of a participating educational provider, scholarship granting organization, or workforce training organization. This allows all education providers to be able to participate, without fear of federal control.

    Helps Our Most Vulnerable Students: Many low and middle-income students cannot afford tuition and educational expenses themselves, or do not have the means to pay for the workforce training needed to secure a stable, high-paying job. This tax credit will provide scholarships for these students, so that they can have the opportunity to receive an effective and successful education that prepares them for the future.

    MIL OSI USA News –

  • MIL-OSI USA: 02.03.2025 Sen. Cruz Announced as Chairman of the Senate Foreign Relations Subcommittee on Africa and Global Health Policy

    US Senate News:

    Source: United States Senator for Texas Ted Cruz

    WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas), a member of the Senate Foreign Relations Committee, issued the following statement after the announcement of subcommittee assignments for the 119th Congress on the Committee. Sen. Cruz will be the Chairman of the Subcommittee on Africa and Global Health Policy, as well as a member of the Subcommittee on Near East, South Asia, Central Asia, and Counterterrorism and the Subcommittee on Western Hemisphere, Transnational Crime, Civilian Security, Democracy, Human Rights, and Global Women’s Issues.
    Sen. Cruz said, “As the Chairman of the Subcommittee on Africa and Global Health Policy, I intend to pursue a robust oversight agenda and hearings schedule, with a focus on countering the Chinese Communist Party’s predatory practices toward our African partners. I will also focus on addressing threats posed by terrorist groups, freedom of navigation in the Red Sea, illicit finance across the continent, and diplomacy targeting us and our allies by malign actors. I look forward to also continuing work on other subcommittees strengthening strategic partnerships across the Middle East and the Western Hemisphere.”
    BACKGROUND
    The Senate Foreign Relations Subcommittees Sen. Cruz sits on holds jurisdiction over the following areas:
    Subcommittee on Africa and Global Health Policy:
    The subcommittee deals with all matters concerning U.S. relations with countries in Africa (except those, like the countries of North Africa, specifically covered by other subcommittees), as well as regional intergovernmental organizations like the African Union and the Economic Community of West African States. This subcommittee’s regional responsibilities include all matters within the geographic region, including matters relating to: (1) terrorism and non-proliferation; (2) crime and illicit narcotics; (3) U.S. foreign assistance programs; and (4) the promotion of U.S. trade and exports.
    In addition, this subcommittee has global responsibility for health-related policy, including disease outbreak and response.
    Subcommittee on Near East, South Asia, Central Asia, and Counterterrorism:
    This subcommittee deals with all matters concerning U.S. relations with the countries of the Middle East, North Africa, South Asia, and Central Asia, as well as regional intergovernmental organizations. This subcommittee’s regional responsibilities include all matters within the geographic region, including matters relating to: (1) terrorism and non-proliferation; (2) crime and illicit narcotics; (3) U.S. foreign assistance programs; and (4) the promotion of U.S. trade and exports.
    In addition, this subcommittee has global responsibility for counterterrorism matters.
    Subcommittee on Western Hemisphere, Transnational Crime, Civilian Security, Democracy, Human Rights, and Global Women’s Issues:
    This subcommittee deals with all matters concerning U.S. relations with the countries of the Western Hemisphere, including Canada, Mexico, Central and South America, Cuba, and the other countries in the Caribbean, as well as the Organization of American States. This subcommittee’s regional responsibilities include all matters within the geographic region, including matters relating to: (1) terrorism and non-proliferation; (2) crime and illicit narcotics; (3) U.S. foreign assistance programs; and (4) the promotion of U.S. trade and exports. In addition, this subcommittee has global responsibility for transnational crime, trafficking in persons (also known as modern slavery or human trafficking), global narcotics flows, civilian security, democracy, human rights, and global women’s issues.

    MIL OSI USA News –

  • MIL-Evening Report: As Trump deportations intensify, Pacific Island nations worry they could be overwhelmed

    Source: The Conversation (Au and NZ) – By Henrietta McNeill, Research fellow, Australian National University

    In his first term, Donald Trump deported far fewer people from the United States than his three predecessors: Barack Obama, George W. Bush and Bill Clinton.

    Just weeks into his second term, however, Trump is making the deportation of immigrants one of his top priorities. Immigration raids on those who have overstayed their visas and non-citizens with criminal histories have already commenced, with arrests increasing dramatically in recent days.

    His administration has announced plans to build a migrant detention facility at Guantanamo Bay in Cuba that could hold up to 30,000 people awaiting deportation. Trump has also threatened to use a little-known law from 1798 to speed up the process, bypassing immigration courts.

    While much of the attention has focused on the hundreds of thousands of migrants at risk of being deported to Latin America, many Pacific islanders are likely to be ordered to leave, as well.

    A list from the US Immigration and Customs Enforcement of people with “final orders of removal” includes some 350 migrants from Fiji, 150 from Tonga and 57 people from Samoa, among others.

    Unsurprisingly, Trump’s threats have invoked fear across the Pacific. Prominent Fijian lawyer Dorsami Naidu told the ABC:

    We’ve had lots of people who have served prison sentences in America get sent back to Fiji where they introduce different kinds of criminal activities that they are well-groomed in.

    It should be noted, though, that not all of the people with orders to leave have been convicted of serious crimes. Many have simply overstayed their visas or may have only committed a minor infraction. Most want to turn their lives around.

    Lack of support

    Criminal deportations from the US, Australia and New Zealand have increased dramatically over the past decade, yet there is still a crucial lack of funding to support reintegration services.

    Concerns about the repercussions of criminal deportations are particularly high in Tonga, which received more than 1,000 returnees from 2009–20, nearly three-quarters of whom were from the US.

    One Tongan commentator suggested Trump’s decision would “unleash a wave of deportees that could drown Tonga and other Pacific nations in crisis”.

    Though some Tongan returnees are accepted back into families and societies, many struggle. A large number left the country when they were young and often have limited understanding of the local language and culture. As such, they experience difficulties reintegrating into society.

    My research shows that some deported Pacific islanders with criminal histories may turn “back to what they know” in the absence of support, which at times means involvement in the drug trade if there are no other means of gainful employment.

    In countries like Tonga where there is an escalating methamphetamine problem and a lack of employment opportunities, this is understandably concerning.

    Tonga, like other Pacific countries, struggles to fund organisations that crucially assist with deported peoples’ reintegration needs in order to prevent the risk of (re)offending. The countries deporting these individuals (such as the US, New Zealand or Australia) rarely provide any assistance, despite repeated requests from Pacific governments and non-governmental organisations.

    Can these countries negotiate instead?

    Countries can push back against Trump’s decisions to deport their citizens. Colombia was the first to do so, when President Gustavo Petro initially refused to allow military planes carrying deported migrants to land.

    Petro’s refusal was met with fury in Washington. Trump threatened a number of retaliatory trade measures, prompting Petro to eventually relent.

    Pacific states have previously tried to push back against deportations during the COVID pandemic. Samoa and Tonga, for instance, used diplomatic channels to request a “pause” on removals while they grappled with the unfolding health crisis.

    Australia and New Zealand complied with the request, but the US did not. Instead, it used punitive measures to force states into continue receiving deportations.

    For instance, the US blacklisted Samoan and Tongan nationals from the list of states eligible for seasonal work visas, affecting these countries’ economies. They were not returned to the list until they “complied” with US removals.

    International law mandates that countries accept their own citizens if they are deported. Those that refuse are deemed “deviant states”, which can cause problems for both the deporting state and returnees trapped in limbo.

    However, there are other ways of delaying deportation orders.

    For example, Samoa has requested additional information from the countries trying to deport Samoans and will not issue travel documents (for example, a passport) until this request is complied with. This information includes evidence of an individual’s connection to Samoa and family ties in the country.

    Samoan authorities maintain this helps organisations like the Samoa Returnees Charitable Trust find their families and arrange appropriate accommodation, aiding with their reintegration.

    Countries like Colombia and Samoa are acting in the interests of their citizens. While many have legitimate concerns about returnees potentially turning to crime once they are in their home countries, these states also want to challenge the perception that all migrants are criminals.

    As Petro, the Colombian president, was quick to point out:

    They are Colombians. They are free and dignified, and they are in their homeland where they are loved […] The migrant is not a criminal. He is a human being who wants to work and progress, to live life.

    Henrietta McNeill 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. As Trump deportations intensify, Pacific Island nations worry they could be overwhelmed – https://theconversation.com/as-trump-deportations-intensify-pacific-island-nations-worry-they-could-be-overwhelmed-248900

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Peatlands and mangroves: Southeast Asian countries must protect these major carbon pools to boost climate ambitions

    Source: The Conversation – Indonesia – By Sigit Sasmito, Senior Research Officer, James Cook University

    Peat swamp in Danau Sentarum National Park, West Kalimantan. (Bramanthya Fathi Makarim/Shutterstock)

    Protecting and restoring peatlands and mangroves can strengthen Southeast Asian countries’ efforts to combat climate change, according to new findings from an international team of researchers.

    Carbon-dense peatlands and mangroves comprise only 5% of Southeast Asia’s surface. Protecting and restoring them, however, can reduce approximately 770±97 megatonnes of CO2 equivalent (MtCO2e) annually. This is equal to more than half of the carbon emissions from land use in the region.

    Conserving offers larger mitigation potential through reduced emissions from ecosystem loss in the region compared to gains from restoration. If optimally implemented, restoration can still play an important role in nature-based carbon sequestration.

    Having peatlands and mangroves included in the new climate pledges (Nationally Determined Contributions 3.0) can help countries set higher emissions reduction targets for 2030 and 2035.

    More benefits to offer

    The study reports extensive climate benefits from conserving and restoring peatlands and mangroves. Therefore, they make effective natural climate solutions for Southeast Asian countries.

    Both ecosystems protect organic matter from decay under natural conditions, acting as net carbon sinks. This means that carbon uptake exceeds carbon loss.

    Net carbon gains are mainly accumulated in their soils instead of their vegetation. More than 90% of carbon stocks in peatlands and 78% in mangroves are in their soils.

    At scale, protecting and restoring both types of wetlands also supports other valuable co-benefits. These include biodiversity preservation, water quality improvement, coastal protection, food security and rural development for millions of coastal people across Southeast Asian countries.

    Challenges remain

    Despite the benefits, many challenges and risks persist in conserving and restoring peatlands and mangroves.

    When peatlands and mangroves are disturbed – commonly due to land use change – they release large quantities of carbon into the atmosphere. This release can later exacerbate climate change.

    The new estimates suggest that changes in their land use for the past two decades (2001-2022) had caused the release of approximately 691±97 MtCO2e of excess emissions.

    Indonesia accounts for the largest portion of the region’s emissions, accounting for 73%. Malaysia (14%), Myanmar (7%), and Vietnam (2%) follow. The other seven Southeast Asian countries generate the remaining 4% of emissions.

    In Southeast Asia, mangroves and peatlands are often treated as unproductive land. Still, they have long been subject to agricultural land expansion planning.

    Moreover, unclear or multi-land ownership and lack of long-term participatory monitoring programs are critical challenges for prioritising and implementing restoration on the ground.

    Despite these challenges, government and corporate interest in developing conservation and restoration-based carbon projects for peatlands and mangroves is rapidly increasing.

    That is why now is a good opportunity to recognise their vital roles — not only for climate change mitigation — but also for people and nature.

    Implications for national emissions reduction targets

    The new study addresses a critical gap in climate policy for Southeast Asian by providing annual climate change mitigation potentials from peatlands and mangroves.

    Climate mitigation potential for national land-use emissions varies widely between countries.

    The findings suggest that it could reduce national land-use emissions by up to 88% in Malaysia, 64% in Indonesia, and 60% in Brunei. Other countries include Myanmar at 39%, the Philippines at 26%, Cambodia at 18%, Vietnam at 13%, Thailand at 10%, Laos at 9%, Singapore at 2%, and Timor-Leste at 0.04%.

    Our study also shows that mitigation potential from peatlands and mangroves in Indonesia can fulfil country Forestry and Other Land-use (FOLU) Net Sink targets by 2030.

    In its 2022 NDCs, Indonesia plans to reduce its annual emissions from FOLU by 2030 between 500-729 MtCO2e, depending on the level of external support. According to the study, this figure is within the same order of mitigation potential as peatlands and mangroves can collectively generate.

    However, peatland and mangrove mitigation potentials are insufficient to avoid dangerous levels of climate change in the future.

    Decarbonisation remains the most effective means of curbing climate change and its impacts, with peatland and mangrove protection enhancing these efforts.

    Susan Elizabeth Page menerima dana dari University of Leicester, UK.

    Dan Friess, David Taylor, Massimo Lupascu, Pierre Taillardat, Sigit Sasmito, dan Wahyu Catur Adinugroho tidak bekerja, menjadi konsultan, memiliki saham, atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi selain yang telah disebut di atas.

    – ref. Peatlands and mangroves: Southeast Asian countries must protect these major carbon pools to boost climate ambitions – https://theconversation.com/peatlands-and-mangroves-southeast-asian-countries-must-protect-these-major-carbon-pools-to-boost-climate-ambitions-247570

    MIL OSI – Global Reports –

  • MIL-OSI China: Hong Kong’s economy grows 2.5% in 2024

    Source: China State Council Information Office

    Hong Kong’s economy expanded 2.5 percent in 2024 as exports of goods and services maintained growth, according to advance estimates released by the Hong Kong Special Administrative Region (HKSAR) government on Monday.

    In the fourth quarter (Q4) of 2024, the region’s Gross Domestic Product (GDP) grew 2.4 percent year-on-year in real terms, faster than the 1.9-percent uptick in Q3, data from the Census and Statistics Department showed.

    In 2024, total exports of goods resumed growth amid improved external demand, while exports of services posted an increase on the back of rising visitor arrivals and improvement in other cross-border economic activities, commented a spokesperson for the HKSAR government.

    Overall investment expenditure expanded along with the economy at large, but private consumption expenditure recorded a slight decline owing to changes in residents’ consumption patterns, the spokesperson noted.

    Looking ahead, the Hong Kong economy is expected to register further growth in 2025 despite heightened uncertainties in the external environment, the spokesperson said.

    The central government’s various measures benefitting Hong Kong, coupled with the HKSAR government’s wide range of initiatives to promote economic growth, will support various economic activities, said the spokesperson.

    MIL OSI China News –

  • MIL-OSI China: Hamas says ready to negotiate for 2nd phase of ceasefire

    Source: China State Council Information Office

    A source from the political bureau of Hamas said on Monday that the movement is ready to engage in indirect negotiations with Israel to implement the second phase of the ceasefire and a potential prisoner-for-hostage exchange.

    The source, speaking on condition of anonymity, said, “Hamas has fulfilled all the terms of the agreement and is ready to start indirect negotiations with Israel to finalize the second phase, which aims to ease the suffering of our people.”

    Under the three-phase ceasefire agreement reached between Israel and Hamas last month, negotiations on implementing the second phase were to begin before the 16th day of phase one, which falls on Monday.

    However, Israeli Prime Minister Benjamin Netanyahu traveled to Washington on Sunday to meet with U.S. President Donald Trump. Media reports indicated that Netanyahu decided to delay sending a negotiation team to Qatar for talks on the second phase until after his meeting with Trump.

    Since the truce took effect on Jan. 19, Hamas has released 18 hostages in exchange for Israel freeing hundreds of Palestinians from its prisons.

    MIL OSI China News –

  • MIL-OSI China: Lukashenko officially declared winner in Belarusian presidential elections

    Source: China State Council Information Office

    This file photo shows Belarusian President Alexander Lukashenko (C) casting his ballot at a polling station in Minsk, Belarus, Jan. 26, 2025. [Photo/Xinhua]

    Belarusian Central Election Commission on Monday officially declared Alexander Lukashenko’s victory in the latest presidential elections with 86.82 percent of the votes.

    For other candidates, Sergei Syrankov received 3.21 percent, followed by Oleg Gaidukevich (2.02 percent), Anna Kanopatskaya (1.86 percent) and Alexander Khizhnyak (1.74 percent). Around 3.60 percent of voters voted against all candidates.

    The presidential elections were held in Belarus on Jan. 26. The turnout was 85.69 percent.

    Under Belarusian law, a presidential candidate who secures more than 50 percent of the vote is declared the winner.

    Lukashenko was first elected president of Belarus in 1994. He was later re-elected in 2001, 2006, 2010, 2015 and 2020.

    MIL OSI China News –

  • MIL-OSI China: Belgium’s new gov’t sworn in

    Source: China State Council Information Office

    Bart De Wever (C) is sworn in as Belgium’s prime minister at the Royal Palace in Brussels, Belgium, Feb. 3, 2025. [Belga News Agency via Xinhua]

    Belgium’s new government was sworn in on Monday, ending months of political deadlock. Bart De Wever, leader of the Flemish nationalist N-VA party, which won the federal election last June, has taken office as prime minister — the first time a Flemish nationalist has led the federal government.

    In his general policy statement before the Chamber of Representatives, De Wever outlined key priorities for the remainder of the legislative term, including pension reforms, increased social benefits, and tax adjustments favoring supplementary income.

    Belgium’s fiscal deficit is projected to reach 28 billion euros (28.8 billion U.S. dollars) in 2024, or 4.6 percent of GDP — well above the 3-percent threshold set by the EU’s Stability and Growth Pact. In response, the European Commission has launched an excessive deficit procedure, requiring the government to submit a corrective plan by April 30. The five-party “Arizona” coalition has agreed to focus on pension reform, reductions in social welfare spending, and the introduction of a capital gains tax.

    Economists warn that Belgium’s current social spending is unsustainable. Bruno Colmant, a member of the Belgian Royal Academy, cautioned that the country is entering “a phase of rapid population aging” and that urgent reforms are needed to address structural imbalances.

    At the same time, economic growth is expected to slow. The National Bank of Belgium forecasts growth of 1.2 percent in 2024, dropping to 1 percent in 2025. The country’s heavy reliance on energy imports — currently at 74 percent — leaves it vulnerable to global price fluctuations.

    Meanwhile, the industrial sector has been in recession for over 18 months. A 7.2 percent rise in business bankruptcies in 2024 has intensified concerns over job losses and economic stability.

    Security and immigration remain major challenges. De Wever has pledged stricter policies to combat organized crime and illegal immigration, making them key priorities for his administration.

    MIL OSI China News –

  • MIL-OSI China: Trump says US agrees to pause tariffs on Mexico for one month

    Source: China State Council Information Office 3

    U.S. President Donald Trump said on Monday that he had “very friendly conversation” with Mexican President Claudia Sheinbaum, and the two sides agreed to “immediately pause” the anticipated tariffs for one month and continue negotiations.

    “I just spoke with President Claudia Sheinbaum of Mexico. It was a very friendly conversation wherein she agreed to immediately supply 10,000 Mexican Soldiers on the Border separating Mexico and the United States. These soldiers will be specifically designated to stop the flow of fentanyl, and illegal migrants into our Country,” Trump said in a post on social media platform Truth Social.

    “We further agreed to immediately pause the anticipated tariffs for a one month period during which we will have negotiations headed by Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and Secretary of Commerce Howard Lutnick, and high-level Representatives of Mexico,” Trump continued.

    “I look forward to participating in those negotiations, with President Sheinbaum, as we attempt to achieve a ‘deal’ between our two Countries,” said the U.S. president.

    Trump signed executive orders on Saturday to impose a 25-percent additional tariff on imports from Canada and Mexico and a 10-percent tariff hike on imports from China, which has drawn widespread opposition and immediate retaliations.

    “The tariffs could increase how much U.S. consumers and businesses pay for goods coming from Canada, Mexico and China — including electronics, toys, shoes, fresh produce, lumber and cars. Tariffs are paid by companies importing goods into the U.S., similar to a tax,” according to a report by NBC News.

    The new tariffs mean that U.S. companies would have to either reduce profits or implement cuts to protect their margins, the report said, adding that the implications could be “wide-reaching” across the U.S. economy.

    Shortly after Trump’s announcement, Sheinbaum on Saturday instructed the Secretariat of Economy to implement tariff and non-tariff measures to defend Mexico’s interests in response to the levies imposed by the Trump administration.

    “We categorically reject the White House’s slander against the Mexican government of having alliances with criminal organizations, as well as any intention of intervention in our territory,” the Mexican president said on the social platform X.

    MIL OSI China News –

  • MIL-OSI USA: Crapo Continues Push to Reauthorize Program Supporting Rural Idaho Counties

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho) led U.S. Senators Ron Wyden (D-Oregon), Jim Risch (R-Idaho), Jeff Merkley (D-Oregon) and 17 other Senate colleagues in reintroducing legislation, S. 356, to reauthorize the U.S. Forest Service’s Secure Rural Schools and Self-Determination Program (SRS) through Fiscal Year 2026.  The legislation has strong bipartisan backing.
    “The SRS program is a vital lifeline for rural counties where federal lands generate insufficient revenue for important local services,” said Crapo.  “Failure to reauthorize the program puts most of Idaho’s counties in a precarious position with a lack of fudning for schools, road maintenance, public safety, and search and rescue operations.  I urege botht the Senate and House to take up this measure expeditiously, and remain committed to finding a viable long-term solution that provides more certainty to rural county governments in the future.”
    “Idaho’s counties rely on SRS funding for schools and road maintenance,” said Risch. “The federal government made a promise to rural communities, and until we can bring historic timber revenue back to these areas, Congress has an obligation to fulfill that promise. Congress must immediately reauthorize SRS.”
    “This is urgent business for the Oregonians living and working in counties that have long depended on millions of dollars from these federal funds for local schools, roads, law enforcement and more,” said Wyden, who co-authored the SRS legislation in 2000.  “I’m glad this bill is being reintroduced right at the start of this new Congress in this bipartisan spirit, and I strongly urge our House colleagues to act with the same urgency and bipartisan ethic to reconnect this proven lifeline ASAP for rural communities in Oregon and nationwide.”
    “Our bipartisan bill provides reliable funding that is crucial to keeping schools and libraries open, maintaining roads, restoring watersheds, and ensuring there are police officers and firefighters to keep rural?communities safe,”?said Merkley.  “Congress must swiftly pass this bill to extend the SRS program so Oregon communities can maintain access to these important lifelines and resources.” 
    “Reauthorizing Secure Rural Schools for three years will help counties with large tracts of federal forests meet the needs of residents and visitors,” said National Association of Counties Executive Director Matthew Chase.  “Without SRS, counties would face, on average, an 80 percent drop in resources for infrastructure improvement, education programs and forest health projects.  Many rural counties and school districts are already making difficult decisions due to a lack of funds. Counties applaud the leadership of Senators Crapo and Wyden and look forward to prompt passage of this vital legislation.”
    Additional co-sponsors of the bill include Senators Dan Sullivan (R-Alaska), Jacky Rosen (D-Nevada), Shelley Moore Capito (R-West Virginia), Jeanne Shaheen (D-New Hampshire), Steve Daines (R-Montana), Mark Kelly (D-Arizona), Josh Hawley (R-Missouri), Maggie Hassan (D-New Hampshire), John Curtis (R-Utah), Patty Murray (D-Washington), Rick Scott (R-Florida), Amy Klobuchar (D-Minnesota), Tim Sheehy (R-Montana), Michael Bennet (D-Colorado), Lisa Murkowski (R-Alaska), Jim Justice (R-West Virginia) and Catherine Cortez Masto (D-Nevada).
    Crapo, Wyden, Risch and Merkley introduced the legislation in the 118th Congress and the Senate unanimously passed it in November 2024.  It did not receive a vote in the U.S. House of Representatives before the end of the Congress.  The program needs to be reauthorized as soon as possible to avoid a gap in funding for rural counties that rely on the program for much-needed services.
    Congress enacted SRS in 2000 to financially assist counties with public, tax-exempt forestlands.  The U.S. Forest Service and the U.S. Bureau of Land Management administer the funds.  The totals are based on a formula including economic activity, timber harvest levels and other considerations that vary from county to county.  SRS payments are critical to maintain education programs for many rural counties that contain federal lands exempt from property taxes.
    Text of the bill is available here.

    MIL OSI USA News –

  • MIL-OSI Australia: Funds flowing for new crisis and transitional housing

    Source: Ministers for Social Services

    The Albanese Labor Government has announced that 42 projects across Australia will receive a share of $100 million building hundreds of new crisis and transitional homes for thousands of women and children impacted by family and domestic violence, and older women at risk of homelessness.

    Funded under the Housing Australia Future Fund (HAFF), the Crisis and Transitional Accommodation Program (CTAP) funds the building, remodelling or purchase of new or expanded crisis or transitional accommodation.

    The funding is part of the Albanese Government’s ambitious housing reform agenda, as well as our commitment, along with states and territories, to end gender‑based violence within one generation.

    Since coming to office, the Albanese Government is investing nearly 20 times more funding in crisis and transitional accommodation and programs than the previous Coalition government did in a decade.

    CTAP aligns with the Government’s broader housing and women’s safety agendas, including the National Plan to End Violence against Women and Children 2022–2032, the National Housing Infrastructure Facility and builds on the work of existing emergency and crisis accommodation programs like the Safe Places Emergency Accommodation Program.

    A range of projects have been selected under CTAP, including projects that will be tailored to support culturally and linguistically diverse women and children, First Nations women and children, and older women.

    Hundreds of applications were received, demonstrating the critical need for secure housing across Australia after a decade of neglect by the Coalition. Those applications were assessed through an open, competitive grants process and all successful projects clearly demonstrated how the projects will meet the needs of women and children experiencing violence and older women at risk of homelessness.

    Our Government’s separate $100 million investment in the Safe Places Emergency Accommodation Program through the 2024 Inclusion Round is already bringing the total number of emergency accommodation places delivered under the program across Australia to around 1,500.

    Once all Safe Places projects are complete, more than 11,000 women and children experiencing family and domestic violence will be able to be supported each year, with this additional funding going towards helping thousands more.

    More information about the Crisis and Transitional Accommodation Program and the Safe Places Program is available from the Department of Social Services website.

    If you or someone you know is experiencing, or at risk of experiencing, domestic, family, or sexual violence, call 1800 737 732, text 0458 737 732 or visit www.1800RESPECT.org.au for online chat and video call services.

    Connect with 13YARN Aboriginal & Torres Strait Islander Crisis Supporters on 13 92 76, available 24/7 from any mobile or pay phone, or visit www.13yarn.org.au No shame, no judgement, safe place to yarn.

    If you are concerned about your behaviour or use of violence, you can contact the Men’s Referral Service on 1300 766 491 or visit www.ntv.org.au

    Quotes attributable to Minister for Housing and Homelessness, Clare O’Neil MP

    “Family and domestic violence is a scourge on our society which has a huge impact on vulnerable women and kids.

    “Labor knows that having a safe place to go can be the difference between leaving a violent relationship or staying. That’s what these projects are about – empowering some of the most vulnerable people in our community with a safe place to go.

    “42 organisations will be funded around the country to deliver hundreds of new crisis and emergency homes, resulting in more women and children having secure accommodation when they need it most.

    “We know that these groups are two of the most at risk for not having a safe place to call home, and this housing insecurity can lead to other disadvantages, and it’s a measure of any society how it protects its most vulnerable, and our Government is investing to secure a safer future for women.”

    Quotes attributable to Minister for Social Services, Amanda Rishworth MP

    “Family and domestic violence is one of the leading causes of homelessness and housing uncertainty for women and children across Australia, and we know there is an increased demand for emergency accommodation.

    “The impact of family and domestic violence ripples across communities and it is why, along with states and territories, our Albanese Labor Government is committed to ending violence against women and children in one generation. As Minister, I have thought about this issue every day in my portfolio.

    “This critical CTAP investment, along with our previous investment in the Safe Places Emergency Accommodation program, will ensure that women and children experiencing violence have a safe place to go and don’t have to choose between housing and their safety.”

    MIL OSI News –

  • MIL-Evening Report: Do big tech companies have a ‘duty of care’ for users? A new report says they do – but leaves out key details

    Source: The Conversation (Au and NZ) – By Lisa M. Given, Professor of Information Sciences & Director, Social Change Enabling Impact Platform, RMIT University

    PV Productions/Shutterstock

    Large social media companies should have to proactively remove harmful content from their platforms, undergo regular “risk assessments” and face hefty fines if they don’t comply, according to an independent review of online safety laws in Australia.

    The federal government will today release the final report of the review conducted by experienced public servant Delia Rickard, more than three months after receiving it.

    The review comes a few months after Meta announced it will stop using independent fact checkers to moderate content on Facebook, Instagram and Threads.

    Rickard’s review contains 67 recommendations in total. If implemented, they would go a long way to making Australians safer from abusive content, cyberbullying and other potential harms encountered online. They would also align Australia to international jurisdictions and address many of the same problems targeted by the social media ban for young people.

    However, the recommendations contain serious omissions. And with a federal election looming, the review is not likely to be acted upon until the next term of government.

    Addressing online harms at the source

    The review recommends imposing a “digital duty of care” on large social media companies.

    The federal government has already committed to doing this. However, legislation to implement a digital duty of care has been on hold since November, with discussions overshadowed by the government’s social media ban for under 16s.

    The digital duty of care would put the onus on tech companies to proactively address a range of specific harms on their platforms, such as child sexual exploitation and attacks based on gender, race or religion.

    It would also provide several protections for Australians, including “easily accessible, simple and user-friendly” pathways to complain about harmful content. And it would position Australia alongside the United Kingdom and the European Union, which already have similar laws in place.

    Online service providers would face civil penalties of 5% of global annual turnover or A$50 million (whichever is greater) for non-compliance with the duty of care.

    Two new classes of harm – and expanded powers for the regulator

    The recommendations also call for a decoupling of the Online Safety Act from the National Classification Scheme. That latter scheme legislates the classification of publications, films and computer games, providing ratings to guide consumers to make informed choices for selecting age-appropriate content.

    This shift would create two new classes of harm: content that is “illegal and seriously harmful” and “legal but may be harmful”. This includes material dealing with “harmful practices” such as eating disorders and self-harm.

    The review’s recommendations also include provisions for technology companies to undergo annual “risk assessments” and publish an annual “transparency report”.

    The review also recommends adults experiencing cyber abuse, and children who are cyberbullied online, should wait only 24 hours following a complaint before the eSafety Commission orders a social media platform to remove the content in question. This is down from 48 hours.

    It also recommends lowering the threshold for identifying “menacing, harassing, or seriously offensive” material to that which “an ordinary reasonable person” would conclude is likely to have an effect.

    The review also calls for a new governance model for the eSafety Commission. This new model would empower the eSafety Commissioner to create and enforce “mandatory rules” (or codes) for duty of care compliance, including addressing online harms.

    The need to tackle misinformation and disinformation

    The recommendations are a step towards making the online world safer for everybody. Importantly, they would achieve this without the problems associated with the government’s social media ban for young people – including that it could violate children’s human rights.

    Missing from the recommendations, however, is any mention of potential harms from online misinformation and disinformation.

    Given the speed of online information sharing, and the potential for artificial intelligence (AI) tools to enable online harms, such as deepfake pornography, this is a crucial omission.

    From vaccine safety to election campaigns, experts have raised ongoing concerns about the need to combat misinformation.

    A 2024 report by the International Panel on the Information Environment found experts, globally, are most worried about “threats to the information environment posed by the owners of social media platforms”.

    In January 2025, the Canadian Medical Association released a report showing people are increasingly seeking advice from “problematic sources”. At the same time technology companies are “blocking trusted news” and “profiting” from “pushing misinformation” on their platforms.

    In Australia, the government’s proposed misinformation bill was scrapped in November last year due to concerns over potential censorship. But this has left people vulnerable to false information shared online in the lead-up to the federal election this year. As the Australian Institute of International Affairs said last month:

    misinformation has increasingly permeated the public discourse and digital media in Australia.

    An ongoing need for education and support

    The recommendations also fail to provide guidance on further educational supports for navigating online spaces safely in the review.

    The eSafety Commission currently provides many tools and resources for young people, parents, educators, and other Australians to support online safety. But it’s unclear if the change to a governance model for the commission to enact duty of care provisions would change this educational and support role.

    The recommendations do highlight the need for “simple messaging” for people experiencing harm online to make complaints. But there is an ongoing need for educational strategies for people of all ages to prevent harm from occurring.

    The Albanese government says it will respond to the review in due course. With a federal election only months away, it seems unlikely the recommendations will be acted on this term.

    Whichever government is elected, it should prioritise guidance on educational supports and misinformation, along with adopting the review’s recommendations. Together, this would go a long way to keeping everyone safe online.

    Lisa M. Given receives funding from the Australian Research Council. She is a Fellow of the Academy of the Social Sciences in Australia and the Association for Information Science and Technology, and an Affiliate of the International Panel on the Information Environment.

    – ref. Do big tech companies have a ‘duty of care’ for users? A new report says they do – but leaves out key details – https://theconversation.com/do-big-tech-companies-have-a-duty-of-care-for-users-a-new-report-says-they-do-but-leaves-out-key-details-248995

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Senator Markey Introduces Amendment to Keep DOGE Team from Accessing Critical Treasury Payment Systems

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Washington (February 3, 2025) – Senator Edward J. Markey, a member of the Commerce, Science, and Transportation Committee, today filed an amendment to the Transparency in Charges for Key Events Ticketing (TICKET) Act, which the Senate Commerce, Science, and Transportation Committee is marking up on Wednesday, February 5. The amendment would make it a violation of the Federal Trade Commission (FTC) Act for an individual to gain unauthorized access to the central payment systems at the Treasury Department. Last week, Elon Musk’s personnel from the Department of Government Efficiency (DOGE) gained access to the Treasury Department’s central payment system, which disburses trillions of dollars in congressionally approved funds each year, including Social Security and Medicare benefits.

    “By demanding access to critical payment systems at the Treasury Department, Elon Musk and his team of government arsonists are threatening everything from payments for our troops to Medicare and Social Security payments,” said Senator Edward J. Markey. “This access creates serious privacy and cybersecurity risks and could even enable Musk to give his companies an unfair competitive advantage. It’s outrageous and dangerous. I hope my colleagues can come together and support this commonsense amendment to limit this access and safeguard our essential financial infrastructure.”

    MIL OSI USA News –