Category: Switzerland

MIL-OSI Submissions: When big sports events expand, like FIFA’s 2026 World Cup matches across North America, their climate footprint expands too
Source: The Conversation – USA (2) – By Brian P. McCullough, Associate Professor of Sport Management, University of Michigan

Lionel Messi celebrates with fans after Argentina won the FIFA World Cup championship in 2022 in Qatar. Michael Regan-FIFA/FIFA via Getty Images

When the FIFA World Cup hits North America in June 2026, 48 teams and millions of soccer fans will be traveling to and from venues spread across the United States, Canada and Mexico.

It’s a dramatic expansion – 16 more teams will be playing than in recent years, with a jump from 64 to 104 matches. The tournament is projected to bring in over US$10 billion in revenue. But the expansion will also mean a lot more travel and other activities that contribute to climate change.

The environmental impacts of giant sporting events like the World Cup create a complex paradox for an industry grappling with its future in a warming world.

A sustainability conundrum

Sports are undeniably experiencing the effects of climate change. Rising global temperatures are putting athletes’ health at risk during summer heat waves and shortening winter sports seasons. Many of the 2026 World Cup venues often see heat waves in June and early July, when the tournament is scheduled.

There is a divide over how sports should respond.

Some athletes are speaking out for more sustainable choices and have called on lawmakers to take steps to limit climate-warming emissions. At the same time, the sport industry is growing and facing a constant push to increase revenue. The NCAA is also considering expanding its March Madness basketball tournaments from 68 teams currently to as many as 76.

Park Yong-woo of team Al Ain from Abu Dhabi tries to cool off during a Club World Cup match on June 26, 2025, in Washington, D.C., which was in the midst of a heat wave. Some players have raised concerns about likely high temperatures during the 2026 World Cup, with matches scheduled June 11 to July 19.
AP Photo/Julia Demaree Nikhinson

Estimates for the 2026 World Cup show what large tournament expansions can mean for the climate. A report from Scientists for Global Responsibility estimates that the expanded World Cup could generate over 9 million metric tons of carbon dioxide equivalent, nearly double the average of the past four World Cups.

This massive increase – and the increase that would come if the NCAA basketball tournaments also expand – would primarily be driven by air travel as fans and players fly among event cities that are thousands of miles apart.

A lot of money is at stake, but so is the climate

Sports are big business, and adding more matches to events like the World Cup and NCAA tournaments will likely lead to larger media rights contracts and greater gate receipts from more fans attending the events, boosting revenues. These are powerful financial incentives.

In the NCAA’s case, there is another reason to consider a larger tournament: The House v. NCAA settlement opened the door for college athletic departments to share revenue with athletes, which will significantly increase costs for many college programs. More teams would mean more television revenue and, crucially, more revenue to be distributed to member NCAA institutions and their athletic conferences.

When climate promises become greenwashing

The inherent conflict between maximizing profit through growth and minimizing environmental footprint presents a dilemma for sports.

Several sport organizations have promised to reduce their impact on the climate, including signing up for initiatives like the United Nations Sports for Climate Action Framework.

However, as sports tournaments and exhibition games expand, it can become increasingly hard for sports organizations to meet their climate commitments. In some cases, groups making sustainability commitments have been accused of greenwashing, suggesting the goals are more about public relations than making genuine, measurable changes.

For example, FIFA’s early claims that it would hold a “fully carbon-neutral” World Cup in Qatar in 2022 were challenged by a group of European countries that accused soccer’s world governing body of underestimating emissions. The Swiss Fairness Commission, which monitors fairness in advertising, considered the complaints and determined that FIFA’s claims could not be substantiated.

Alessandro Bastoni, of Inter Milan and Italy’s national team, prepares to board a flight from Milan to Rome with his team.
Mattia Ozbot-Inter/Inter via Getty Images

Aviation is often the biggest driver of emissions. A study that colleagues and I conducted on the NCAA men’s basketball tournament found about 80% of its emissions were connected to travel. And that was after the NCAA began using the pod system, which is designed to keep teams closer to home for the first and second rounds.

Finding practical solutions

Some academics, observing the rising emissions trend, have called for radical solutions like the end of commercialized sports or drastically limiting who can attend sporting events, with a focus on fans from the region.

These solutions are frankly not practical, in my view, nor do they align with other positive developments. The growing popularity of women’s sports shows the challenge in limiting sports events – more games expands participation but adds to the industry’s overall footprint.

Further compounding the challenges of reducing environmental impact is the amount of fan travel, which is outside the direct control of the sports organization or event organizers.

Many fans will follow their teams long distances, especially for mega-events like the World Cup or the NCAA tournament. During the men’s World Cup in Russia in 2018, more than 840,000 fans traveled from other countries. The top countries by number of fans, after Russia, were China, the U.S., Mexico and Argentina.

There is an argument that distributed sporting events like March Madness or the World Cup can be better in some ways for local environments because they don’t overwhelm a single city. However, merely spreading the impact does not necessarily reduce it, particularly when considering the effects on climate change.

How fans can cut their environmental footprint

Sport organizations and event planners can take steps to be more sustainable and also encourage more sustainable choices among fans. Fans can reduce their environmental impact in a variety of ways. For example:
- Avoid taking airplanes for shorter distances, such as between FIFA venues in Philadelphia, New York and Boston, and carpool or take Amtrak instead. Planes can be more efficient for long distances, but air travel is still a major contributing factor to emissions.
- While in a host city, use mass transit or rent electric vehicles or bicycles for local travel.
- Consider sustainable accommodations, such as short-term rentals that might have a smaller environmental footprint than a hotel. Or stay at a certified green hotel that makes an effort to be more efficient in its use of water and energy.
- Engage in sustainable pregame and postgame activities, such as choosing local, sustainable food options, and minimize waste.
- You can also pay to offset carbon emissions for attending different sporting events, much like concertgoers do when they attend musical festivals. While critics question offsets’ true environmental benefit, they do represent people’s growing awareness of their environmental footprint.
Through all these options, it’s clear that sports face a significant challenge in addressing their environmental impacts and encouraging fans to be more sustainable, while simultaneously trying to meet ambitious business and environmental targets.

In my view, a sustainable path forward will require strategic, yet genuine, commitment by the sports industry and its fans, and a willingness to prioritize long-term planetary health alongside economic gains – balancing the sport and sustainability.

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

– ref. When big sports events expand, like FIFA’s 2026 World Cup matches across North America, their climate footprint expands too – https://theconversation.com/when-big-sports-events-expand-like-fifas-2026-world-cup-matches-across-north-america-their-climate-footprint-expands-too-259437
MIL OSI –
July 17, 2025
MIL-OSI Submissions: The golden oyster mushroom craze unleashed an invasive species – and a worrying new study shows it’s harming native fungi

Source: The Conversation – USA (2) – By Aishwarya Veerabahu, Ph.D. Candidate in Botany, University of Wisconsin-Madison

Golden oyster mushrooms can be cultivated, but they can also escape into the wild. DDukang/iStock/Getty Images Plus

Golden oyster mushrooms, with their sunny yellow caps and nutty flavor, have become wildly popular for being healthy, delicious and easy to grow at home from mushroom kits.

But this food craze has also unleashed an invasive species into the wild, and new research shows it’s pushing out native fungi.

In a study we believe is the first of its kind, fellow mycologists and I demonstrate that an invasive fungus can cause environmental harm, just as invasive plants and animals can when they take over ecosystems.

A scientist documents golden oyster mushrooms growing wild in a Wisconsin forest, where these invasive fungi don’t belong. DNA tests showed the species had pushed out other native fungi.
Aishwarya Veerabahu

Native mushrooms and other fungi are important for the health of many ecosystems. They break down dead wood and other plant material, helping it decay. They cycle nutrients such as carbon and nitrogen from the dead tissues of plants and animals, turning it into usable forms that enter the soil, atmosphere or their own bodies. Fungi also play a role in managing climate change by sequestering carbon in soil and mediating carbon emissions from soil and wood.

Their symbiotic relationships with other organisms also help other organisms thrive. Mycorrhizal fungi on roots, for example, help plants absorb water and nutrients. And wood decay fungi help create wooded habitats for birds, mammals and plant seedlings.

However, we found that invasive golden oyster mushrooms, a wood decay fungus, can threaten forests’ fungal biodiversity and harm the health of ecosystems that are already vulnerable to climate change and habitat destruction.

The dark side of the mushroom trade

Golden oyster mushrooms, native to Asia, were brought to North America around the early 2000s. They’re part of an international mushroom culinary craze that has been feeding into one of the world’s leading drivers of biodiversity loss: invasive species.

As fungi are moved around the world in global trade, either intentionally as products, such as kits people buy for growing mushrooms at home, or unintentionally as microbial stowaways along with soil, plants, timber and even shipping pallets, they can establish themselves in new environments.

Where golden oyster mushrooms, an invasive species in North America, have been reported in the wild, including in forests, parks and neighborhoods. Red dots indicate new reports each year. States in yellow have had a report at some point. Aishwarya Veerabahu

Many mushroom species have been cultivated in North America for decades without becoming invasive species threats. However, golden oyster mushrooms have been different.

No one knows exactly how golden oyster mushrooms escaped into the wild, whether from a grow kit, a commercial mushroom farm or outdoor logs inoculated with golden oysters – a home-cultivation technique where mushroom mycelium is placed into logs to colonize the wood and produce mushrooms.

As grow kits increased in popularity, many people began buying golden oyster kits and watching them blossom into beautiful yellow mushrooms in their backyards. Their spores or composted kits could have spread into nearby forests.

Evidence from a pioneering study by Andrea Reisdorf (née Bruce) suggests golden oyster mushrooms were introduced into the wild in multiple U.S. states around the early 2010s.

Species the golden oysters pushed out

In our study, designed by Michelle Jusino and Mark Banik, research scientists with the U.S. Forest Service, our team went into forests around Madison, Wisconsin, and drilled into dead trees to collect wood shavings containing the natural fungal community within each tree. Some of the trees had golden oyster mushrooms on them, and some did not.

We then extracted DNA to identify and compare which fungi, and how many fungi, were in trees that had been invaded by golden oyster mushrooms compared with those that had not been.

We were startled to find that trees with golden oyster mushrooms housed only half as many fungal species as trees without golden oyster mushrooms, sometimes even less. We also found that the composition of fungi in trees with golden oyster mushrooms was different from trees without golden oyster mushrooms.

For example, the gentle green “mossy maze polypore” and the “elm oyster” mushroom were pushed out of trees invaded by golden oyster mushrooms.

Mossy maze polypore growing on a stump. This is one of the native species that disappeared from trees when the golden oyster mushroom moved in.
mauriziobiso/iStock/Getty Images Plus

Another ousted fungus, Nemania serpens, is known for producing diverse arrays of chemicals that differ even between individuals of the same species. Fungi are sources of revolutionary medicines, including antibiotics like penicillin, cholesterol medication and organ transplant stabilizers. The value of undiscovered, potentially useful chemicals can be lost when invasive species push others out.

The invasive species problem includes fungi

Given what my colleagues and I discovered, we believe it is time to include invasive fungi in the global conversation about invasive species and examine their role as a cause of biodiversity loss.

That conversation includes the idea of fungal “endemism” – that each place has a native fungal community that can be thrown out of balance. Native fungal communities tend to be diverse, having evolved together over thousands of years to coexist. Our research shows how invasive species can change the makeup of fungal communities by outcompeting native species, thus changing the fungal processes that have shaped native ecosystems.

There are many other invasive fungi. For example, the deadly poisonous “death cap” Amanita phalloides and the “orange ping-pong bat” Favolaschia calocera are invasive in North America. The classic red and white “fly agaric” Amanita muscaria is native to North America but invasive elsewhere.

The orange ping-pong bat mushroom is invasive in North America. These were photographed in New Zealand.
Bernard Spragg. NZ/Flickr Creative Commons

The golden oyster mushrooms’ invasion of North America should serve as a bright yellow warning that nonnative fungi are capable of rapid invasion and should be cultivated with caution, if at all.

Golden oyster mushrooms are now recognized as invasive in Switzerland and can be found in forests in Italy, Hungary, Serbia and Germany. I have been hearing about people attempting to cultivate them around the world, including in Turkey, India, Ecuador, Kenya, Italy and Portugal. It’s possible that golden oyster mushrooms may not be able to establish invasive populations in some regions. Continued research will help us understand the full scope of impacts invasive fungi can have.

What you can do to help

Mushroom growers, businesses and foragers around the world may be asking themselves, “What can we do about it?”

For the time being, I recommend that people consider refraining from using golden oyster mushroom grow kits to prevent any new introductions. For people who make a living selling these mushrooms, consider adding a note that this species is invasive and should be cultivated indoors and not composted.

If you enjoy growing mushrooms at home, try cultivating safe, native species that you have collected in your region.

Most mushrooms you see in the grocery store are grown indoors.

There is no single right answer. In some places, golden oyster mushrooms are being cultivated as a food source for impoverished communities, for income, or to process agricultural waste and produce food at the same time. Positives like these will have to be considered alongside the mushrooms’ negative impacts when developing management plans or legislation.

In the future, some ideas for solutions could involve sporeless strains of golden oysters for home kits that can’t spread, or a targeted mycovirus that could control the population. Increased awareness about responsible cultivation practices is important, because when invasive species move in and disrupt the native biodiversity, we all stand to lose the beautiful, colorful, weird fungi we see on walks in the forest.

Aishwarya Veerabahu receives funding from UW-Madison Dept. of Botany, the UW Arboretum, the Society of Ecological Restoration, and the Garden Club of America. Aishwarya Veerabahu was an employee of the USDA Forest Service.

– ref. The golden oyster mushroom craze unleashed an invasive species – and a worrying new study shows it’s harming native fungi – https://theconversation.com/the-golden-oyster-mushroom-craze-unleashed-an-invasive-species-and-a-worrying-new-study-shows-its-harming-native-fungi-259006

MIL OSI –

July 17, 2025
MIL-OSI Africa: Roche and the African Society for Laboratory Medicine (ASLM) launch partnership to strengthen diagnostic leadership across Africa
Source: APO
- The partnership dubbed, Leadership Excellence for African Diagnostics (LEAD) between Roche and ASLM is a three-year programme to strengthen lab leadership in Africa
- The initiative focuses on mentorship and training to build lab leadership capabilities
Roche Diagnostics Africa (www.Roche.com) and the African Society for Laboratory Medicine (ASLM) (www.ASLM.org) have announced the launch of a three-year partnership to elevate laboratory leadership and improve access to quality diagnostic services across the continent. The initiative — titled LEAD: Leadership Excellence for African Diagnostics — brings together health ministries, laboratory directors, academic partners and technical experts to develop a new generation of capable, connected and future-ready lab leaders.

“This partnership will build long-term leadership that would shape the future of diagnostics in Africa — practically, strategically and sustainably. In a time where we need African healthcare systems to become less reliant on external funding sources, we are focused on increasing domestic diagnostics capacity more than ever,” says Dr Allan Pamba, Executive Vice President, Diagnostics, Africa, at Roche Diagnostics.

“We are entering a new chapter where African health systems take the lead in their own transformation. By growing diagnostic leadership we support long-term resilience and impact. LEAD equips professionals who can influence policy, drive national strategy and build sustainable healthcare capacity.”

Under the partnership, LEAD will deliver a series of integrated interventions including baseline leadership assessments to guide a tailored context-specific training approach, development of a pan-African curriculum in collaboration with a leading academic institution, structured mentorship and professional development for emerging lab leaders, peer learning and regional collaboration through workshops and best practise exchanges.

ASLM Chief Executive Officer, Nqobile Ndlovu, added: “Diagnostics are the foundation of resilient health systems – but strong labs require strong leaders. LEAD focuses on people: their vision, their reach and their ability to transform public health from within. With this programme, we are supporting the leadership needed to move African healthcare forward.”

Roche will provide funding, technical support and global platforms for visibility while ASLM will lead country-level implementation, stakeholder coordination and curriculum development.

Laboratory strengthening is a key enabler for stronger health systems and this partnership is a commitment towards a healthier future for Africans.

Distributed by APO Group on behalf of Roche Diagnostics.

Media queries:
Precious Nkabinde
Communications Lead
precious.nkabinde@roche.com

Nelly Rwenji
Communications Lead
ASLM
nrwenji@aslm.org

About Roche:
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world’s largest biotechnology company and the global leader in in-vitro diagnostics. The company pursues scientific excellence to discover and develop medicines and diagnostics for improving and saving the lives of people around the world. We are a pioneer in personalised healthcare and want to further transform how healthcare is delivered to have an even greater impact. To provide the best care for each person we partner with many stakeholders and combine our strengths in Diagnostics and Pharma with data insights from the clinical practice.

In recognising our endeavor to pursue a long-term perspective in all we do, Roche has been named one of the most sustainable companies in the pharmaceuticals industry by the Dow Jones Sustainability Indices for the thirteenth consecutive year. This distinction also reflects our efforts to improve access to healthcare together with local partners in every country we work.

Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.

For more information, please visit www.Roche.com.

All trademarks used or mentioned in this release are protected by law.

About ASLM:
The African Society for Laboratory Medicine (ASLM) is a pan-African organization committed to achieving a healthier Africa by increasing access to quality laboratory services for all. We work to convene and mobilize stakeholders at all levels to improve access to diagnostic services and strengthen laboratory systems and networks.

Since its founding in 2011, ASLM has played a key role in advancing laboratory medicine in Africa, collaborating with partners and stakeholders to promote disease diagnosis, surveillance, and control. Through its programs and initiatives, ASLM has contributed to the development of laboratory policies and guidelines, the expansion of laboratory networks, and the improvement of laboratory infrastructure and equipment. ASLM’s experience highlights the importance of laboratory medicine in public health and demonstrates the impact of collaborative efforts in advancing health outcomes in Africa.

Learn more: www.ASLM.org

Media files

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MIL OSI Africa –
July 17, 2025
MIL-OSI: Big Developments for Drone Stocks as White House Issues Executive Order to Unleash American Drone Dominance

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., July 16, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Two recent actions by the White House and the Department of Defense have been issued to cut the “Red Tape” and Unleash American Drone Dominance. An article in TheHill.com said that: “Secretary of Defense Pete Hegseth issued a new directive to fast-track U.S. drone production and “cut red tape,” he announced in a video posted to social media. A new Pentagon memo outlined the U.S. military’s need to keep pace as global military drone production has skyrocketed lately, and the war between Russia and Ukraine has revealed the increasing importance of using more drones for modern warfare. Hegseth made the announcement of the major overhaul in U.S. military drone policy in a social media video where he can be seen flanked by operating drones. Hegseth said the Pentagon is cutting “red tape” and speeding up production. He also said he wants service members from all branches of the military to be trained in drone operations. “We were brought here to rebuild the military and match capabilities to the threats of today,” said Hegseth. “So while our adversaries have produced millions of cheap drones before us, we were mired in bureaucratic red tape, not anymore.” Also an Executive Order from the White House on June 6, 2025 addressed the issue to Unleash American Drone Dominance. It said, in part: “The Department of Defense must be able to procure, integrate, and train using low-cost, high-performing drones manufactured in the United States.” Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), ZenaTech, Inc. (NASDAQ: ZENA), Red Cat Holdings, Inc. (NASDAQ: RCAT), AeroVironment, Inc. (NASDAQ: AVAV), Unusual Machines, Inc. (NYSE American: UMAC).

The order continued: “Within 90 days of the date of this order, the Secretary of Defense shall coordinate with the Secretary of Transportation, acting through the Administrator of the FAA to streamline the approval processes to expand access to airspace for conducting UAS training. Within 90 days of the date of this order, the Secretary of Defense shall, in consultation with the Secretary of Commerce, acting through the Assistant Secretary of Commerce for Communications and Information, and the Federal Communications Commission, submit a report to the President through the Assistant to the President for National Security Affairs (APNSA) describing any unnecessary barriers to accessing electromagnetic spectrum for conducting UAS training.”

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) Commander3 XL UAV Selected by Major Branch of the U.S. Department of Defense for Advanced Operation Initiatives – Draganfly Inc. (FSE: 3U8A) (“Draganfly” or the “Company”), an award-winning developer of drone solutions, software, and robotics, today announced the successful selection of its Commander3 XL (C3XL) UAV platform, also known as the ‘Swiss Army Knife’ of drones, by a major branch of the United States Department of Defense (DoD). This delivery supports next-generation deployment initiatives focused on advanced reconnaissance in combination with operational capabilities.

The procurement was facilitated through a known prime contractor, with Draganfly engaging directly with end-user military stakeholders to ensure the platform was tailored to meet real-world mission requirements. The Commander3 XL platform is to be deployed for intelligence, surveillance, and reconnaissance (ISR) missions that require additional operational capabilities underscoring the growing demand for adaptable UAV platforms in active defense scenarios.

“This delivery further validates the Commander3 XL’s reliability and versatility for frontline applications,” said Cameron Chell, CEO of Draganfly. “We’re honored to support the DoD’s commitment to autonomous and semi-autonomous multi-mission systems that enhance operational effectiveness.”

The Commander3 XL is renowned for its robust flight performance, modular payload options, and mission-specific adaptability, making it a trusted platform for complex defense, security, and emergency response operations. CONTINUED… Read this full press release and more news for Draganfly at: https://draganfly.com/news/

Other recent developments in the drone industry of note include:

ZenaTech, Inc. (NASDAQ: ZENA), a business technology solution provider specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), Enterprise SaaS, and Quantum Computing solutions, recently announced it will accelerate expansion of its Phoenix Arizona-based facilities — including tripling the square footage size — to enable full US drone manufacturing, assembly and testing. This expansion comes earlier than expected due to the recent transformative US policy directives from the White House, the Department of Defense, and the recently passed ‘One Big Beautiful Bill’ that collectively have unlocked federal funding for domestic production, cut outdated certification and procurement barriers, and fast-tracked deployment directly to frontline units without requiring Blue or Green UAS (Unmanned Aerial System) certification.

These new directives make it dramatically easier and faster for American drone companies—especially those building Group 1 and 2 affordable drone systems—to sell directly to the military, scale production, and innovate without delays from traditional defense procurement bottlenecks. Together, they signal a clear national priority: build drones in America, field them fast, and outpace adversaries.

Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently has successfully closed the previously announced registered direct offering with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock resulting in gross proceeds of approximately $46.75 million, before deducting placement agent fees and other offering expenses. The offering closed on June 18, 2025.

The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures related to its new unmanned surface vessel division.

“We believe this financing positions Red Cat for significant growth in the drone industry and will accelerate our product development and production for our newly formed Unmanned Surface Vessels (USVs) division for the maritime autonomy market,” said Jeff Thompson, Founder, Chairman and Chief Executive Officer of Red Cat.

AeroVironment, Inc. (NASDAQ: AVAV) recently announced that its Wildcat uncrewed aircraft system (UAS) has achieved a series of development milestones in support of the Defense Advanced Research Projects Agency’s (DARPA) Early VTOL Aircraft Demonstration (EVADE). Wildcat has successfully completed VTOL-to-forward-flight transitions, validated its core flight and propulsion systems, and begun integrating critical mission payloads—demonstrating rapid progress toward an operationally relevant capability.

Wildcat is a Group 3, tail-sitting vertical take-off and landing (VTOL) aircraft designed for launch and recovery from ship decks in denied and distributed maritime environments. Its compact footprint, autonomous launch and recovery, and robust flight performance across high sea states make it a flexible and scalable solution for contested littoral operations.

Unusual Machines, Inc. (NYSE American:UMAC), a leader in drone technology and component manufacturing, recently announced the appointment of Tim Manton, CPA, as Corporate Controller, reporting to Chief Financial Officer Brian Hoff. Manton brings more than 15 years of experience in financial operations, M&A, and reporting across high-growth and acquisition-driven companies.

“Tim brings strong financial acumen and experience critical to dynamic, scaling environments,” said Hoff. “His background in M&A, systems integration, and financial oversight makes him a valuable addition as we sharpen our focus on execution and operational efficiency.”

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The MIL Network –

July 17, 2025
MIL-OSI: Draganfly’s Commander3 XL UAV Selected by Major Branch of the U.S. Department of Defense for Advanced Operation Initiatives

Source: GlobeNewswire (MIL-OSI)

Tampa, FL, July 16, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) (“Draganfly” or the “Company”), an award-winning developer of drone solutions, software, and robotics, today announced the successful selection of its Commander3 XL (C3XL) UAV platform, also known as the ‘Swiss Army Knife’ of drones, by a major branch of the United States Department of Defense (DoD). This delivery supports next-generation deployment initiatives focused on advanced reconnaissance in combination with operational capabilities.

The procurement was facilitated through a known prime contractor, with Draganfly engaging directly with end-user military stakeholders to ensure the platform was tailored to meet real-world mission requirements. The Commander3 XL platform is to be deployed for intelligence, surveillance, and reconnaissance (ISR) missions that require additional operational capabilities underscoring the growing demand for adaptable UAV platforms in active defense scenarios.

“This delivery further validates the Commander3 XL’s reliability and versatility for frontline applications,” said Cameron Chell, CEO of Draganfly. “We’re honored to support the DoD’s commitment to autonomous and semi-autonomous multi-mission systems that enhance operational effectiveness.”

The Commander3 XL is renowned for its robust flight performance, modular payload options, and mission-specific adaptability, making it a trusted platform for complex defense, security, and emergency response operations.

About Draganfly

Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A) is a pioneer in drone solutions, AI-driven software, and robotics. With over 25 years of innovation, Draganfly has been at the forefront of drone technology, providing solutions for public safety, agriculture, industrial inspections, security, mapping, and surveying. The Company is committed to delivering efficient, reliable, and industry-leading technology that helps organizations save time, money, and lives.

Media Contact
media@draganfly.com

Company Contact
Cameron Chell
Chief Executive Officer
(306) 955-9907
info@draganfly.com

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Frankfurt Listing

Forward-Looking Statements

This release contains certain “forward looking statements” and certain “forward-looking ‎‎‎‎information” as ‎‎‎‎defined under applicable securities laws. Forward-looking statements ‎‎‎‎and information can ‎‎‎‎generally be identified by the use of forward-looking terminology such as ‎‎‎‎‎“may”, “will”, “expect”, “intend”, ‎‎‎‎‎“estimate”, “anticipate”, “believe”, “continue”, “plans” or similar ‎‎‎‎terminology. Forward-looking statements ‎‎‎‎and information are based on forecasts of future ‎‎‎‎results, estimates of amounts not yet determinable and ‎‎‎‎assumptions that, while believed by ‎‎‎‎management to be reasonable, are inherently subject to significant ‎‎‎‎business, economic and ‎‎‎‎competitive uncertainties and contingencies. Forward-looking statements ‎‎‎‎include, but are not ‎‎‎‎limited to, statements with respect to the Commander 3XL platform’s ability to meet real-world mission requirements, its ability to complete ISR missions that may require a mission profile requiring additional operational capabilities, and statements regarding the growing demand for adaptable UAV platforms in active defense scenarios Forward-‎‎‎‎looking statements and information are subject to various ‎known ‎‎and unknown risks and ‎‎‎‎‎uncertainties, many of which are beyond the ability of the Company to ‎control or ‎‎predict, that ‎‎‎‎may cause ‎the Company’s actual results, performance or achievements to be ‎materially ‎‎different ‎‎‎‎from those ‎expressed or implied thereby, and are developed based on assumptions ‎about ‎‎such ‎‎‎‎risks, uncertainties ‎and other factors set out here in, including but not limited to: the potential ‎‎‎‎‎‎‎impact of epidemics, ‎pandemics or other public health crises, including the ‎COVID-19 pandemic, on the Company’s business, operations and financial ‎‎‎‎condition; the ‎‎‎successful integration of ‎technology; the inherent risks involved in the general ‎‎‎‎securities markets; ‎‎‎uncertainties relating to the ‎availability and costs of financing needed in the ‎‎‎‎future; the inherent ‎‎‎uncertainty of cost estimates; the ‎potential for unexpected costs and ‎‎‎‎expenses, currency ‎‎‎fluctuations; regulatory restrictions; and liability, ‎competition, loss of key ‎‎‎‎employees and other related risks ‎‎‎and uncertainties disclosed under the ‎heading “Risk Factors“ ‎‎‎‎in the Company’s most recent filings filed ‎‎‎with securities regulators in Canada on ‎the SEDAR ‎‎‎‎website at www.sedar.com and with the United States Securities and Exchange Commission (the “SEC”) on EDGAR through the SEC’s website at www.sec.gov. The Company undertakes ‎‎‎no obligation to update forward-‎looking ‎‎‎‎information except as required by applicable law. Such forward-‎‎‎looking information represents ‎‎‎‎‎managements’ best judgment based on information currently available. ‎‎‎No forward-looking ‎‎‎‎statement ‎can be guaranteed and actual future results may vary materially. ‎‎‎Accordingly, readers ‎‎‎‎are advised not to ‎place undue reliance on forward-looking statements or ‎‎‎information.‎

The MIL Network –

July 16, 2025
MIL-OSI Europe: Latest news – Ordinary Delegation meeting – 09 July 2025, Strasbourg – Delegation for Northern cooperation and for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee

Source: European Parliament

The Delegation for Northern Cooperation and for Relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area Joint Parliamentary Committee met on Wednesday, 9 July from 17.30 until 18.00 in room WEISS N3.5, Strasbourg.

During the meeting the Vice-Chairs of the Delegation were elected by acclamation:

MEP Christophe GRUDLER (Renew, FR) as First Vice Chair

MEP Gheorghe CÂRCIU (S&D, RO) as Second Vice Chair

MIL OSI Europe News –

July 16, 2025

MIL-OSI: Richemont posts solid start to the year for its first quarter ended 30 June 2025

Source: GlobeNewswire (MIL-OSI)

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

16 JULY 2025

RICHEMONT POSTS SOLID START TO THE YEAR FOR ITS FIRST QUARTER ENDED 30 JUNE 2025

Highlights for the quarter ended 30 June 2025

Group sales at € 5.4 billion, up by 6% at constant exchange rates and by 3% at actual exchange rates in a volatile macroeconomic and geopolitical context
Continued strength at Jewellery Maisons, up by 11% at constant exchange rates; softer sequential rate of decline at Specialist Watchmakers, down by 7%; ‘Other’, including Fashion & Accessories Maisons, at -1%
Double-digit growth in Europe, the Americas and Middle East & Africa; stable sales in Asia Pacific at constant exchange rates; Japan down on high comparatives in prior-year period
Consistent growth across all distribution channels, led by Jewellery Maisons
Robust net cash position at € 7.4 billion, after cash transferred to YNAP upon closing of the sales transaction with LuxExperience

April-June		2025	2024	Movement at:
		€m	€m	constant rates	actual rates
By region	Europe	1 295	1 171	+11%	+11%
	Asia Pacific	1 731	1 809	–	-4%
	Americas	1 335	1 215	+17%	+10%
	Japan	527	603	-15%	-13%
	Middle East & Africa	524	470	+17%	+11%

By distribution channel	Retail	3 734	3 631	+6%	+3%
	Online retail	323	315	+6%	+3%
	Wholesale and royalty income	1 355	1 322	+6%	+2%

By business area	Jewellery Maisons	3 914	3 656	+11%	+7%
	Specialist Watchmakers	824	911	-7%	-10%
	Other	674	701	-1%	-4%
Total		5 412	5 268	+6%	+3%

Review of trading in the three-month period ended 30 June 2025 versus the prior-year period, at constant exchange rates

Any long form references to Hong Kong, Macau and Taiwan within this company announcement are Hong Kong SAR, China; Macau SAR, China; and Taiwan, China respectively.

At constant exchange rates, Group sales in the quarter ended 30 June 2025 rose by 6% in a volatile global macroeconomic and geopolitical context.

The growth was led by double digit increases in Europe, the Americas and Middle East & Africa, more than offsetting Japan’s sales decline against high prior-year comparatives; sales in the Asia Pacific region remained stable. In Europe, sales grew by 11%, driven by robust demand from local clients and overall positive tourist spend, supported by successful high jewellery events. Almost all main markets in the region saw an increase in sales this quarter, with notable performances in Italy and Germany. In the Americas, sales growth remained strong at +17%, driven by supportive local demand across all business areas and markets. Sales in the Middle East & Africa region rose by 17%, led by the United Arab Emirates market as well as higher tourist spend. In Japan, sales declined by 15% against a demanding +59% comparative in the prior-year period, with a strengthening Yen strongly reducing tourist spend, most notably from Chinese clientele, whilst local demand remained positive. Asia Pacific sales were stable overall versus the prior-year period, as a 7% decline in China, Hong Kong and Macau combined was fully compensated by robust growth in almost all other Asian markets. Of note, sales in Australia and South Korea were up double digits.

Growth was consistent across all distribution channels, each up by 6%, led by Jewellery Maisons. Retail sales accounted for 69% of Group sales, with growth across all regions excluding Japan. Wholesale sales growth was driven by solid increases in the Americas, Europe and Middle East & Africa. Online retail sales showed robust growth across almost all regions.

The Group’s four Jewellery Maisons – Buccellati, Cartier, Van Cleef & Arpels and Vhernier – recorded an 11% rise in sales, marking a third consecutive quarter of double-digit growth, supported by both jewellery and watch product lines. All regions posted growth, except Japan that faced a very high comparative in the prior-year period. Specialist Watchmakers sales were 7% lower than the prior-year period, largely reflecting declines in sales in China, Hong Kong and Macau combined as well as in Japan, partly offset by double-digit growth in the Americas. The Group’s Other business area, which includes Fashion & Accessories Maisons, declined by 1% compared to the prior-year period. Notable highlights included continued solid momentum at Peter Millar and Alaïa, an encouraging performance at Chloé and robust growth at Watchfinder & Co.

The Group’s net cash position at 30 June 2025 stood at € 7.4 billion (2024: € 7.3 billion) after accounting for the € 426 million cash-out upon completion of the sale of YNAP to Mytheresa on 23 April 2025.

Corporate calendar

The annual general meeting will be held on Wednesday 10 September 2025 in Geneva. The interim results for the current financial year will be announced on Friday 14 November 2025. The Group’s corporate calendar is available on https://www.richemont.com/investors/corporate-calendar/.

About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/ .

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. The ‘A’ shares are also traded on the Johannesburg Stock Exchange, Richemont’s secondary listing.

Investor/analyst and media enquiries

Alessandra Girolami, Group Investor Relations Director

James Fraser, Investor Relations Executive

Investors/analysts enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net

Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Disclaimer

The financial information contained in this announcement is unaudited.

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Richemont’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumers traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers’ desire to travel to our retail stores. International conflicts or wars, including resulting sanctions and restrictions on importation and exportation of finished products and/or raw materials, whether self-imposed or imposed by international countries, non-state entities or others, may also impact these forward-looking statements. If international tariffs are imposed or increased, materials and goods that Richemont imports may face higher prices, which could lead to reduced margins or increased prices that could cause decreased consumer demand. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control. Richemont does not undertake to update, nor does it have any obligation to provide updates of, or to revise, any forward-looking statements.

This announcement does not contain full details and should not be used as a basis for any investment decision in relation to the Company’s shares. Please find the full announcement available in PDF below:

Richemont FY26 – Q1 Sales PDF EN

The MIL Network –

July 16, 2025

MIL-OSI Australia: Well done to Course 81

Source: New South Wales – News

Today’s 25 graduates from the South Australia Police (SAPOL) Academy all bring something unique to the table, from experience in competitive boxing, and retail management to truck logistics and swim coaching.

Course 81 members include 13 men and 12 women, who range in age from 19 to 46.

The new police officers bring diverse skills from a variety of employment backgrounds, including in security, education, hospitality, retail, corrections, the Navy, pharmaceutical and disability sectors, and as a flight attendant, truck driver, gymnastics coach, Department for Child Protection worker and Police Security Officer.

Some have journeyed from overseas and interstate, including from Switzerland, India, Sydney, Victoria and Tasmania.

Probationary Constable Bagus has an Indonesian/Australian background and lived in Bali for five years before moving to Adelaide in 2017.

Prior to joining SAPOL, he worked as a barista and competed in amateur boxing.

“Competing in boxing helped me to have better situational awareness. In boxing matches, I constantly had to read the opponent’s body language and stay alert,” Bagus said.

“This translates well to policing, especially for dynamic or unpredictable situations. Competing in boxing also gave me the ability to stay calm and keep composure in high-stress situations.”

Fellow graduate, and single mother Sarah previously worked in retail, aquaculture, hospitality and truck logistics, and was most recently a lead cook at her local country hospital/aged care facility.

“I am a single mother to one, and love country life, 4×4 driving, opal mining, bush hiking, but most of all spending quality time with my son riding horses, playing backyard cricket and football,” she said.

“Being a single parent has taught me to be resilient, adaptable, understanding, patient, kind, forgiving and assertive – all qualities that a police officer requires.”

Similarly, Lauren has developed impressive time management skills to reach graduation day while also being a mother.

“Prior to joining SAPOL, I lived for two years in North Carolina, United States, where I was a waterfront director and lifeguard, and then I moved to Finland for a year before coming back to Australia to have my daughter,” she said.

“Before becoming a police officer, I was a mum to my one-year-old and worked causally in retail and swim coaching.”

Bradley worked in retail for 7.5 years, managing teams in different departments while also playing cricket, football, golf, and the guitar.

“I felt like working in a team environment helped me throughout the academy, through interactions with course mates,” he said.

“The customer-service aspect will be important for how I interact when on the road and dealing with various types of people.”

Eventually, Bagus would like to work in SAPOL’s Security Response Section (SRS) and later Special Tasks and Rescue (STAR), while Sarah hopes her career will lead to theDog Operations Unit. Lauren has her sights set on working in the Major Crime Investigations Branch or Child and Family Violence Investigation Section, while Bradley aims to work anywhere in Forensic Services.

All four graduates encouraged anyone interested in a SAPOL career to “take the leap” and prepare early for what is expected.

Course 81 members will be stationed to metropolitan and regional postings, including Port Augusta, Port Pirie, Mount Gambier, Port Lincoln, Whyalla, and Berri.

SAPOL is currently recruiting and is keen to hear from people interested in an inspiring career with unmatched experiences and rewards.

If you’re looking for job security, career progression pathways and a chance to make a real difference in local communities visit Achievemore – Join Us (police.sa.gov.au)

Sarah, Lauren, Bagus, and Bradley are among 25 new police officers to graduate today from the South Australia Police Academy.

MIL OSI News –

July 16, 2025
MIL-OSI China: ExxonMobil’s landmark chemical complex begins operation in China

Source: People’s Republic of China – State Council News

This undated aerial file photo shows a view of ExxonMobil’s chemical complex in Huizhou, south China’s Guangdong Province. [Photo/Xinhua]

Energy giant ExxonMobil on Tuesday began operation of its landmark chemical complex in southern China, the country’s first major petrochemical project wholly owned by a U.S. company.

The move highlights ExxonMobil’s confidence in the world’s second-largest economy and comes amid China’s ongoing efforts to promote high-standard opening up and attract foreign investment.

Located in the Daya Bay Petrochemical Industrial Park in Huizhou, Guangdong Province, the first phase of the project consists of a flexible feedstock steam cracker with an annual capacity of 1.6 million tonnes of ethylene, a key building block for plastics and fibers used in a wide range of products like packaging.

The site also houses production units for high-performance polyethylene and polypropylene.

Hailing the establishment of this complex as “the latest chapter” in the long story of ExxonMobil’s presence in China, the company’s senior vice president Jack Williams said at the launch ceremony that the project will serve as an anchor for Guangdong to develop a robust petrochemical industry.

Construction of the Huizhou complex began in April 2020 and involves two phases. Remarkably, the project progressed from negotiations to groundbreaking in just 18 months, a process that typically takes five years.

Li Xingjun, chairman of ExxonMobil (Huizhou) Chemical Co., Ltd., attributed this rapid progress to Guangdong’s pro-business environment, calling the province “one of the world’s leading manufacturing hubs, with a strong industrial base, comprehensive supply chains, and a high degree of market openness.”

“The easing of foreign investment restrictions and institutional innovation have created a more transparent, fair and predictable investment environment, which has strengthened our confidence in the Chinese market,” he said.

Huizhou, a coastal city in southern China, is home to a cluster of major petrochemical companies, including Shell, BASF and Clariant. Within this ecosystem, the Daya Bay Petrochemical Industrial Park has become one of China’s leading refining and chemical production centers, with an annual oil refining capacity of 22 million tonnes and ethylene production capacity of 3.8 million tonnes.

ExxonMobil’s chemical complex is expected to boost China’s ethylene production capacity and elevate the technological standards of its petrochemical sector, supporting key industries such as electronic chemicals, fine chemicals and biomedicine, said Ji Hongbing, vice president of the Guangdong Petroleum and Chemical Industry Association.

The launch comes amid China’s ongoing efforts to improve access for foreign investors. The country has twice reduced its negative list for foreign investment since 2021. All restrictions on foreign access to the manufacturing sector have been lifted, and further liberalization has occurred in agriculture and services. Pilot initiatives in healthcare and value-added telecommunications have opened new opportunities for foreign businesses.

ExxonMobil is among a number of multinational firms investing in China, where GDP grew 5.3 percent year on year in the first half of 2025.

Earlier this year, Swiss pharmaceutical giant Roche announced a 2.04 billion yuan (about 285 million U.S. dollars) investment in a new biopharmaceutical manufacturing facility in Shanghai’s Pudong New Area, while German chemical company BASF also committed 500 million yuan to expand its Cellasto plant in the city.

In the first five months of 2025, 24,018 new foreign-invested enterprises were established on the Chinese mainland, up 10.4 percent year on year.

MIL OSI China News –

July 16, 2025
MIL-OSI USA: Update – Sandoz Inc. Issues Voluntary Nationwide Recall Expansion of One Additional Lot of Cefazolin for Injection Due to Vials Being Potentially Mislabeled as Penicillin G Potassium for Injection

Source: US Department of Health and Human Services – 3

Summary

Company Announcement Date:
July 15, 2025
FDA Publish Date:
July 15, 2025
Reason for Announcement:

Recall Reason Description
Vials incorrectly labelled as Penicillin G Potassium for Injection contain Cefazolin for Injection

Company Name:
Sandoz, Inc.
Brand Name:

Brand Name(s)
Sandoz

Product Description:

Product Description
Cefazolin for Injection, USP, 1 gm vial

Company Announcement
“This press release is an update to the company’s press release, previously issued on 07/14/2025, to include a new title and additional photos.”
This is an update to the Company Statement issued on June 27, 2025.
FOR IMMEDIATE RELEASE – Princeton, NJ – July 15, 2025 – Sandoz, Inc. (“Sandoz”) is initiating a voluntary nationwide recall expansion of one additional lot of Cefazolin for Injection, USP, 1 gram per vial. The lot is being recalled due to a customer complaint indicating that four (4) vials incorrectly labelled as Penicillin G Potassium for Injection, USP, 20 million Units were included in cartons (25 vials per carton) of Cefazolin for Injection, USP 1 gram per vial product. Sandoz has confirmed that the vials incorrectly labelled as Penicillin G Potassium for Injection contain Cefazolin for Injection, USP, 1 gram per vial.
Risk Statement: There is a reasonable probability that the inadvertent administration of cefazolin injection following dosing recommendation of penicillin G potassium injection due to mislabeling may pose serious and potentially life-threatening adverse health consequences, including lack of efficacy leading to less than optimal treatment of severe infections, antibiotic resistance, adverse reactions, severe allergic reactions (e.g., anaphylaxis), drug interactions, and delayed recovery.
To date, Sandoz has not received any reports of adverse events or injuries related to the product mislabeling. Sandoz has received a complaint of administration of the incorrectly labelled product to a patient.
Lots impacted by the voluntary recall and its expansion:

Product Name

Vial NDC

Carton NDC

Lot Number

Expiration Date

Manufacturer

Distributor

Cefazolin for Injection, USP(25 by 1g vials)

0781-3451-70

0781-3451-96

PG4360

2027-NOV

Sandoz GmbH

Sandoz Inc

Penicillin G Potassium for Injection, USP

0781-6136-94

N/A

PG4360

2027-NOV

Sandoz GmbH

Sandoz Inc

Cefazolin for Injection, USP(25 by 1g vials)

0781-3451-70

0781-3451-96

PG4362

2027-NOV

Sandoz GmbH

Sandoz Inc

Penicillin G Potassium for Injection, USP

0781-6136-94

N/A

PG4362

2027-NOV

Sandoz GmbH

Sandoz Inc

Cefazolin for Injection USP is used for the treatment of infections caused by certain bacteria in many different parts of the body including the treatment of pneumonia. Cefazolin for Injection USP can also be used to prevent infections, before and after surgery. Antibacterial drugs like Cefazolin for Injection USP treat only bacterial infections. They do not treat viral infections. Cefazolin for Injection USP is indicated for adult, elderly, pediatric patients, including newborn term infants.
Penicillin G Potassium for Injection is indicated in the treatment of certain serious infections including septicemia, skin and wound infections. It is also approved for the treatment of diphtheria, community-acquired pneumonia, peritonitis, meningitis/brain abscesses, osteomyelitis, infections of the genital tract, anthrax, tetanus, gas gangrene, listeriosis, pasteurellosis, rat bite fever, fusospirochetes, actinomycosis, complications in gonorrhea and syphilis and Lyme. To reduce the development of drug-resistant bacteria and maintain effectiveness of Penicillin G Potassium for Injection, USP and other antibacterial drugs, Penicillin G Potassium for Injection, USP should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria. Penicillin G Potassium for Injection is indicated for use in adults, adolescents, children, pediatric, newborn infants and preterm infants.
Although both Cefazolin and Penicillin G Potassium belong to the beta-lactam group of antibiotics, they are indicated for different types of infections, and the spectrum of susceptible organisms also differs. Additionally, while the patient populations overlap, each medicine has specific on-label distinct groups, and the dosing regimens may differ, as well.
Sandoz is notifying its customers by letter and is arranging for return of the recalled product. The product being recalled was shipped to select wholesalers for further distribution nationwide. Healthcare providers and customers who have this product should immediately stop use of this lot only and contact Sedgwick, the Sandoz Reverse Distributor, directly by phone at (844) 265-7409 or by email at Sandoz5615@sedgwick.com.
For questions about the recall process, please call Sedgwick at (844) 265-7409 between the hours of 8:00 AM to 5:00 PM Monday – Friday (EST).
Please report any adverse reactions by calling Sandoz at (800) 525-8747. Customer service agents are available from 8:30 AM to 5:00 PM (EST), Monday-Friday, except on national holidays.
Adverse reactions or quality problems experienced with the use of this product may be reported to the FDA’s MedWatch Adverse Event Reporting program either online, by regular mail, or by fax.

Complete and submit the report online: www.fda.gov/medwatch/report.htm
Regular Mail or Fax: Download form www.fda.gov/MedWatch/getforms.htm or call 1-800-332-1088 to request a reporting form, then complete and return to the address on the pre-addressed form or submit by fax to 1-800-FDA-0178.

This recall is being conducted with the knowledge of the U.S. Food and Drug Administration.
Note: The photos represent images of Lot PG4360. Potential mislabeling of Lot PG4362 would appear in a similar manner, except for the lot number printed on the packaging, which would read PG4362.
DISCLAIMERThis Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law.
ABOUT SANDOZSandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion
Link to Original Press Release

Company Contact Information

Media:
Jeanne LaCour, Vicki Crafton
1-609-955-2339, 1-201-213-6338

Product Photos

MIL OSI USA News –

July 16, 2025
MIL-OSI USA: Update – Sandoz Inc. Issues Voluntary Nationwide Recall Expansion of One Additional Lot of Cefazolin for Injection Due to Vials Being Potentially Mislabeled as Penicillin G Potassium for Injection

Source: US Department of Health and Human Services – 3

Summary

Company Announcement Date:
July 15, 2025
FDA Publish Date:
July 15, 2025
Reason for Announcement:

Recall Reason Description
Vials incorrectly labelled as Penicillin G Potassium for Injection contain Cefazolin for Injection

Company Name:
Sandoz, Inc.
Brand Name:

Brand Name(s)
Sandoz

Product Description:

Product Description
Cefazolin for Injection, USP, 1 gm vial

Company Announcement
“This press release is an update to the company’s press release, previously issued on 07/14/2025, to include a new title and additional photos.”
This is an update to the Company Statement issued on June 27, 2025.
FOR IMMEDIATE RELEASE – Princeton, NJ – July 15, 2025 – Sandoz, Inc. (“Sandoz”) is initiating a voluntary nationwide recall expansion of one additional lot of Cefazolin for Injection, USP, 1 gram per vial. The lot is being recalled due to a customer complaint indicating that four (4) vials incorrectly labelled as Penicillin G Potassium for Injection, USP, 20 million Units were included in cartons (25 vials per carton) of Cefazolin for Injection, USP 1 gram per vial product. Sandoz has confirmed that the vials incorrectly labelled as Penicillin G Potassium for Injection contain Cefazolin for Injection, USP, 1 gram per vial.
Risk Statement: There is a reasonable probability that the inadvertent administration of cefazolin injection following dosing recommendation of penicillin G potassium injection due to mislabeling may pose serious and potentially life-threatening adverse health consequences, including lack of efficacy leading to less than optimal treatment of severe infections, antibiotic resistance, adverse reactions, severe allergic reactions (e.g., anaphylaxis), drug interactions, and delayed recovery.
To date, Sandoz has not received any reports of adverse events or injuries related to the product mislabeling. Sandoz has received a complaint of administration of the incorrectly labelled product to a patient.
Lots impacted by the voluntary recall and its expansion:

Product Name

Vial NDC

Carton NDC

Lot Number

Expiration Date

Manufacturer

Distributor

Cefazolin for Injection, USP(25 by 1g vials)

0781-3451-70

0781-3451-96

PG4360

2027-NOV

Sandoz GmbH

Sandoz Inc

Penicillin G Potassium for Injection, USP

0781-6136-94

N/A

PG4360

2027-NOV

Sandoz GmbH

Sandoz Inc

Cefazolin for Injection, USP(25 by 1g vials)

0781-3451-70

0781-3451-96

PG4362

2027-NOV

Sandoz GmbH

Sandoz Inc

Penicillin G Potassium for Injection, USP

0781-6136-94

N/A

PG4362

2027-NOV

Sandoz GmbH

Sandoz Inc

Cefazolin for Injection USP is used for the treatment of infections caused by certain bacteria in many different parts of the body including the treatment of pneumonia. Cefazolin for Injection USP can also be used to prevent infections, before and after surgery. Antibacterial drugs like Cefazolin for Injection USP treat only bacterial infections. They do not treat viral infections. Cefazolin for Injection USP is indicated for adult, elderly, pediatric patients, including newborn term infants.
Penicillin G Potassium for Injection is indicated in the treatment of certain serious infections including septicemia, skin and wound infections. It is also approved for the treatment of diphtheria, community-acquired pneumonia, peritonitis, meningitis/brain abscesses, osteomyelitis, infections of the genital tract, anthrax, tetanus, gas gangrene, listeriosis, pasteurellosis, rat bite fever, fusospirochetes, actinomycosis, complications in gonorrhea and syphilis and Lyme. To reduce the development of drug-resistant bacteria and maintain effectiveness of Penicillin G Potassium for Injection, USP and other antibacterial drugs, Penicillin G Potassium for Injection, USP should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria. Penicillin G Potassium for Injection is indicated for use in adults, adolescents, children, pediatric, newborn infants and preterm infants.
Although both Cefazolin and Penicillin G Potassium belong to the beta-lactam group of antibiotics, they are indicated for different types of infections, and the spectrum of susceptible organisms also differs. Additionally, while the patient populations overlap, each medicine has specific on-label distinct groups, and the dosing regimens may differ, as well.
Sandoz is notifying its customers by letter and is arranging for return of the recalled product. The product being recalled was shipped to select wholesalers for further distribution nationwide. Healthcare providers and customers who have this product should immediately stop use of this lot only and contact Sedgwick, the Sandoz Reverse Distributor, directly by phone at (844) 265-7409 or by email at Sandoz5615@sedgwick.com.
For questions about the recall process, please call Sedgwick at (844) 265-7409 between the hours of 8:00 AM to 5:00 PM Monday – Friday (EST).
Please report any adverse reactions by calling Sandoz at (800) 525-8747. Customer service agents are available from 8:30 AM to 5:00 PM (EST), Monday-Friday, except on national holidays.
Adverse reactions or quality problems experienced with the use of this product may be reported to the FDA’s MedWatch Adverse Event Reporting program either online, by regular mail, or by fax.

Complete and submit the report online: www.fda.gov/medwatch/report.htm
Regular Mail or Fax: Download form www.fda.gov/MedWatch/getforms.htm or call 1-800-332-1088 to request a reporting form, then complete and return to the address on the pre-addressed form or submit by fax to 1-800-FDA-0178.

This recall is being conducted with the knowledge of the U.S. Food and Drug Administration.
Note: The photos represent images of Lot PG4360. Potential mislabeling of Lot PG4362 would appear in a similar manner, except for the lot number printed on the packaging, which would read PG4362.
DISCLAIMERThis Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law.
ABOUT SANDOZSandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion
Link to Original Press Release

Company Contact Information

Media:
Jeanne LaCour, Vicki Crafton
1-609-955-2339, 1-201-213-6338

Product Photos

MIL OSI USA News –

July 16, 2025
MIL-OSI United Kingdom: Rachel Reeves Mansion House 2025 speech

Source: United Kingdom – Executive Government & Departments 3

Speech

Rachel Reeves Mansion House 2025 speech

Chancellor of the Exchequer Rachel Reeves delivered her second Mansion House speech on the evening of Tuesday 15 July 2025.

Lord Mayor, Governor, Ladies and Gentlemen.

My thanks go to the City of London Corporation for hosting us here this evening…

…and to the Lord Mayor for his address…

…as well as to the Economic Secretary to the Treasury for all her hard work.

It is a year since my party was elected to office…

…and year since I was appointed as Chancellor of the Exchequer.

Recently, on a visit to a primary school, a young girl asked me –

“if you could have any job in the world, what would it be?”

Given the events of the last few weeks, I suspect many of you would have sympathised if I had said –

“anything but the Chancellor.”

But I didn’t.

Because I am proud to stand here tonight and address you for a second time at Mansion House…

…as the Chancellor of Exchequer.

This evening, I want to talk about the progress we have made over the past year:

Restoring stability;

Securing investment;

And delivering reform.

And I want to talk about the future:

The economy that we are building;

The opportunities that we are seizing;

And the prosperity that we together are creating.

In my Mais lecture last year, I talked about how a resilient economy must be built on security.

And the importance of that security has been brought into sharp focus in recent months.

As the world changes before our eyes, and global economies are becoming more uncertain.

The job of a responsible government is not just to watch this change –

We must step up, not step back.

We must build a dynamic economy on strong and secure foundations…

…where success is not limited to a handful of sectors, a few people, or certain parts of the country…

…but where the rewards of hard work are shared…

…harnessing the contribution of every part of Britain.

This is the foundation of an economy and a country that is more active and more confident…

…where people and business look to the future and talk about hope…

…talk about opportunity…

…assured of their own capability, and of the ability of our country to boldly face the challenges ahead…

…and certain in the prize when they succeed:

Of higher wages and higher living standards;

The renewal of Britain in every home and every high street.

To put it simply: a Britain that is better off.

The financial services sector is critical to my ambitions for our country.

It is one of the largest and most successful sectors in the UK…

…worth around 10% of total economic output…

…and supporting 1.2 million jobs in clusters right around the UK:

In Cardiff, and Belfast and Edinburgh where we have growing Fintechs;

In Manchester, where BNY have their new Angel Square hub;

And in London, the financial centre of the world.

And financial services is also critical in people’s everyday lives:

Whether that’s a couple looking to buy their first home;

A budding entrepreneur wanting to start their first business;

Or people getting more out of the money they’re putting aside for the future.

And that’s what these plans, that I will set out tonight, will deliver.

Growth must be built on a platform of economic stability.

When we came into office…

…it was our government, this government, that restored Britain’s reputation as a beacon of stability by putting the public finances back on a firm footing…

…getting debt on a downward path, while investing prudently alongside business.

That was – and still is – the right choice…

…because there is nothing progressive – [political redaction] – about a government that simply spends more and more each year on debt interest, instead of on the priorities of ordinary working people.

And fiscal stability is a choice that reflects economic reality.

National debt remains at its highest level since the 1960s…

…and globally, the cost of borrowing has increased in recent years.

This is not the inheritance that I would have chosen…

…but it is the reality.

And that is why the Prime Minister, and I and this government are remain committed to our non-negotiable fiscal rules.

The stability that we have restored is already delivering:

Four cuts in interest rates by the Bank of England since the General Election, reducing the cost of mortgages and business lending;

[political redaction]

And investment is returning to our economy.

At the Spending Review, I set out £120 billion of public investment over the next five years…

…and last month, the Prime Minister confirmed that the UK has attracted £120 billion of private investment – in just the last 12 months.

In a globally competitive market…

…firms all over the world are choosing to invest in Britain…

…as one of the best places to start up, to scale up and to list:

The FTSE is at an all-time high, today, for the first time ever, breaking 9000 points;

London is home to the deepest equity capital market in Europe;

It is the third biggest venture capital market globally;

And the London Stock Exchange is the most international in the world…

…with the FTSE soon to include shares listed not just in sterling but also in dollars and in euros.

Last year, to ensure the UK remains competitive, we made significant changes to the listing regime…

…for example, relaxing dual class share rules to give founders flexibility to pursue their growth ambitions.

The FCA have today published their final Prospectus Rules…

…simplifying the listing and capital raising processes for firms of all sizes.

And, as I committed to last year at Mansion House, we are delivering PISCES…

…a brand-new type of stock exchange for private company share trading…

…with the first trading events due to take place later this year.

And I am announcing a new Listings Taskforce with the Office for Investment…

…to attract the best businesses in the world to IPO here in London.

But we must do more to ensure that British savers benefit from the success of growing British businesses.

Last year at Mansion House, I set out an overhaul of our pensions system…

…and the Pension Schemes Bill, led by my colleague the Pensions Minister, will be signed into law in the next few months.

The creation of Defined Contribution and Local Government Pension Scheme megafunds…

…will mean larger and more powerful pots of funding invested productively across the country.

Pension funds, and this government, are united in our determination to deliver higher returns for savers and more investment in the economy.

That is why, since last year, funds covering the majority of the Defined Contribution market have committed to the Mansion House Accord…

…pledging to invest at least 10% of their main funds into private assets such as infrastructure and growth markets…

… with at least half of that going into UK projects.

And I would also like to congratulate the Lord Mayor on his employer pension pledge…

I am delighted, Lord Mayor, to see businesses such as Tesco, First Group and Octopus making this commitment…

…and like you Lord Mayor I look forward to seeing more companies joining up.

The UK economy is enhanced by its outward-facing approach…

…and this year we have built on that with our new trade deals:

A trade deal with the United States, where we were the first country to sign a deal so that British businesses are better protected against tariffs, and where we have worked with our G7 colleagues to avert new taxes.

I’m pleased to welcome US Securities and Exchange Commissioner Hester Peirce here tonight…

…who is driving forward proposals for greater digital collaboration between our two financial centres. Thank you for being here.

And a trade deal with the European Union, where our strategic partnership will slash red tape and reduce costs for business…

…as well as providing a platform to further deepen our relationship in future.

And I am pleased to welcome the European Union’s Financial Services Commissioner Maria Luis Albuquerque.

Maria Luis, we met earlier today to discuss our continued cooperation on financial services, and I look forward to working more closely with you.

And a trade deal with India, with whom our recent FTA agreement will give us the best trading relationship of any country in the world with India.

And we have concluded the first Economic and Financial Dialogue with China in six years.

And we are implementing the Berne Financial Services Agreement with Switzerland too.

At the G20 in South Africa later this week I will continue the call I made at the IMF Spring meetings –

…for countries to come together to tackle trade imbalances and drive growth…

…underpinned by stronger multilateral institutions.

I look forward to hearing more on this from the Governor in his address…

…and I would like to congratulate him on his recent appointment as Chair of the Financial Stability Board…

…a testament to both Andrew and this government’s commitment to international standards.

Britain is open for business;

Open for trade;

Open for investment.

And that’s why we must be willing to change how we do things to stay competitive in that global economy.

We have ripped up the planning rules;

We have swept away regulations;

We have published our industrial strategy;

And today we can go further, by announcing the Financial Services Growth and Competitiveness Strategy…

…including my Leeds Reforms…

…named after one of the UK’s great hubs for financial services…

…and the city that I have been proud to represent as a Member of Parliament for fifteen years.

These are the most wide-ranging package of reforms to financial services regulation in more than a decade.

At Mansion House last year, I said we must regulate for growth and not just for risk…

…and we are delivering on that commitment…

…while continuing to protect financial stability…

…so that the benefits of a thriving and growing financial services sector can be realised for people all over Britain.

Let me set out the details of that package in four parts:

First, I am rolling back regulation that has gone too far in seeking to eliminate risk;

Second, I am delivering targeted changes in the areas where the UK already has particular strengths;

Third, I am making changes to capital requirements to unlock more productive capital;

And fourth, I am introducing measures to boost retail investment so that more savers can reap the benefits of UK economic success.

I will begin with the biggest reforms.

As I promised last year, I am delivering the most significant reform to the Financial Ombudsman Service since its inception…

…including proposing to limit for ten years for claims.

This will speed up the time it takes for consumers to get redress for their complaints…

… returning it to its original purpose as a simple, impartial arbitration service…

…and ensuring that it no longer acts as a quasi-regulator.

And I welcome the announcement today, made by the Financial Ombudsman Service that will reduce the interest rate it applies before a decision from 8% to base rate plus 1%.

I am introducing new targets for the FCA and PRA to cut times on authorisations and approvals…

…and I have tasked the FCA with assessing the impact of the Consumer Duty and whether it unduly effects wholesale activity…

…to ensure that regulators are really regulating for growth.

And I am streamlining the Senior Managers and Certification Regime…

…reducing the burdens it imposes on firms by 50%…

…and slashing approval timelines…

…so you can bring in talent to your business more quickly.

My next set of reforms provide targeted regulatory support to the areas where the UK does already have a comparative advantage.

For insurance – where Britain is the destination of choice for underwriting complex, specialised and high-value risk…

…I am introducing a new competitive framework for captive insurance.

For asset management – where the UK is the world’s second largest centre…

…I am futureproofing the regulatory regime and will publish draft legislation in early 2026.

For sustainable finance, I am determined to focus our efforts on policies that matter most to our world-leading sector and support investment in the transition…

…so, after consultation and consideration, I have decided not to pursue a green taxonomy…

…but instead work with regulators through the Transition Finance Council to capitalise on the £200 billion opportunity of the global transition to net zero.

And for Fintech – where almost half of Europe’s Fintech’s are already based here in the UK…

…the PRA and FCA are launching a scale-up unit to support innovative firms to grow in the UK, including in our world-leading payments system.

And I will drive forward developments in blockchain technology…

…including tokenised securities and stablecoins…

…and an ambitious design for a new digital gilt instrument…

…so that UK financial services can be at the forefront of digital asset innovation.

And because I believe the UK is the best place in the world for financial services…

…today I’ve announced the Office for Investment’s new concierge service.

Launching by October this year, it will provide a tailored service to companies considering setting up and expanding in the UK…

…and I am grateful to Chris Hayward from the City of London Corporation, for his work to drive this forward.

Thank you Chris.

Now, let me turn to the changes I am making to capital requirements…

…to allow UK banks to do more lending and release more capital for investment into our infrastructure and into our businesses.

First, I am supporting the Bank of England’s decision to raise the asset threshold for MREL requirements to between £25 and £40 billion.

This will benefit the challenger banks and bring increased competition and innovation to the market…

…and support those businesses to expand their footprint here in the UK.

Second, I am confirming our approach to Basel 3.1…

…implementing lower capital requirements for domestically focussed banks from January 2027…

…while preserving flexibility on our approach for international banks to ensure the UK always remains competitive while aligning with international standards.

Third, I have committed to meaningful reform of the UK’s ringfencing regime…

…recognising that now is the time to go further in tackling inefficiency and boosting growth…

…while retaining the aspects of the regime that support financial stability and protect consumer deposits.

And fourth, following the new, growth focussed remit letter I sent in November…

…I welcome the Financial Policy Committee’s announcement that it will review the overall level of bank capital needed for UK financial stability…

…reporting back to me by the end of this year.

The review will inform the work the Treasury is taking forward with the Bank…

…to ensure the prudential framework strikes the optimal balance to deliver resilience, growth and competitiveness.

And I welcome the recent changes the Financial Policy Committee has announced to the loan-to-income limit on mortgage lending…

…which the PRA and FCA are implementing immediately…

…that means tens of thousands more people could be able to get a mortgage in the next year alone…

…with Nationwide already offering its ‘Helping Hand’ mortgage to more first time-buyers…

…supporting alone an additional 10,000 each year.

And my thanks to Dame Debbie Crosbie for her leadership.

My final set of reforms are focussed on boosting savings investment.

I recognise the potential for ISA reform to improve returns for savers…

…and access capital for UK businesses.

I have confirmed that Long-Term Asset Funds can be included in stocks and shares ISAs…

…allowing long-term ISA investors to benefit from this innovative product.

And I will continue to consider further changes to ISAs…

…engaging widely in the coming months…

…and recognising that despite the differing views on the right approach…

…we are united in wanting better outcomes for both UK savers and for the UK economy.

For too long, we have presented investment in too negative a light…

…quick to warn people of the risks, without giving proper weight to the benefits…

…and our tangled system of financial advice and guidance…

…has meant people cannot get the right support to make decisions for themselves.

That is why we are working with the FCA to introduce a brand-new type of targeted support for consumers ahead of the new financial year.

And I also welcome the campaign to promote the benefits of retail investment which will launch next April…

…and the action to look at our current approach to risk warnings – and that will report back in January…

…and I’m grateful to Chris Cummings of the Investment Association for spearheading both of those initiatives.

Thank you very much Chris.

Today, I have placed financial services at the heart of this government’s growth mission…

…recognising that Britain cannot succeed and meet its growth ambitions…

…without a financial sector that is fighting fit and thriving.

The reforms I have set out this evening are the next chapter in how I intend to support this growth…

…and I thank Gwyneth Nurse and her brilliant team at the Treasury for all of their hard work on this package.

I knew that Gwyneth would get the biggest clap …

I am also pleased to have been able to work in lockstep with our regulators…

…and I want to extend my thanks both to Nikhil Rathi and Sam Woods for their innovation and the work they have done in response to my updated remit letters last year.

Thank you Nikhil and thank you Sam.

We have been bold in regulating for growth in financial services…

…and I have been clear on the benefits that that will drive…

…with a ripple effect felt right across all sectors of our economy…

…putting pounds in the pockets of working people.

Getting better deals on their mortgages…

better returns on their savings

and more jobs paying good wages across our country

As I look ahead…

…it is clear that we must do more.

In too many areas, regulation still acts as a boot on the neck of businesses…

…choking off the enterprise and innovation that is the lifeblood of economic growth.

Regulators in other sectors must take up the call I make this evening…

…not to bend to the temptation of excessive caution…

…but to boldly regulate for growth…

…in the service of prosperity for our whole country.

I’m really proud of how far we have come in the last year as government and as a country.

I know that the changes that we have made will reform and transform our economy and our country.

And I know that you will waste no time in seizing the opportunities that lie ahead:

To build a stronger economy;

To deliver the renewal of Britain;

And to make working people in all parts of Britain better off.

Thank you very much.

Updates to this page

Published 15 July 2025

MIL OSI United Kingdom –

July 16, 2025
MIL-OSI Economics: Fossil Fuel Subsidy Reform initiative steps up experience-sharing, reviews subsidy impacts

Source: WTO

Headline: Fossil Fuel Subsidy Reform initiative steps up experience-sharing, reviews subsidy impacts

Ambassador Clare Kelly of New Zealand, coordinator of the FFSR initiative, summarized the progress made on the three key pillars of the initiative’s work in 2025. Noting the strong interest in experience-sharing under the third pillar — “identifying and addressing harmful fossil fuel subsidies” — she encouraged participating members to continue exchanging ideas and to draw lessons from others’ reforms and complementary strategies to address social and developmental challenges.
As part of the dedicated discussion on fossil fuel reforms, the Philippines shared its experiences on energy market and fossil fuel subsidy reform, including in support of the transition to sustainable energy solutions, while aligning with development priorities. The World Bank presented two new databases that enable users to track changes in retail fuel prices and related subsidy policies across countries in a timely manner. These tools are designed to support global efforts to address challenges associated with fuel pricing and subsidies, particularly in the context of volatile market conditions.
In further discussions under the third pillar, co-sponsors examined the trade and environmental impacts of fossil fuel subsidies passed through to emissions-intensive industries. The International Energy Agency (IEA) presented its latest energy investment report, which indicated that fossil fuel subsidy support to industry had remained constant, despite a significant global shift towards increased clean energy investment.
The Organisation for Economic Co-operation and Development (OECD) shared key findings from a recent study on the implications of government support for aluminium smelting and steelmaking. The study concludes that reforming such support offers a cost-effective way to reduce emissions while freeing public resources for more sustainable uses. The WTO Secretariat also presented a 2024 working paper on the trade effects of carbon pricing policies, which contains analysis of the potential impacts of different carbon pricing policies, including removal of fossil fuel subsidies, on comparative advantage in carbon-intensive industries.
Co-sponsors thanked members and stakeholders for the valuable insights shared, which underscored the importance of strengthening fossil fuel subsidy reform through collective efforts. They emphasized the persistent scale and impact of fossil fuel subsidies, even amid increasing investment in clean energy. The empirical evidence presented confirmed that such subsidies distort comparative advantages and global trade, reinforcing the relevance of the FFSR initiative’s focus on subsidy reform. Co-sponsors also proposed ways to improve the understanding and classification of different types of fossil fuel subsidies.
Under the first pillar — “Enhanced transparency” — several co-sponsors, including Colombia, Norway and Switzerland, provided updates on their respective efforts to compile information on fossil fuel subsidies and related reforms as part of their recent or upcoming Trade Policy Reviews. The WTO Secretariat presented data from members’ questions and answers related to fossil fuel subsidies and their reform, based on 18 Trade Policy Reviews conducted in 2024 and 2025. The findings reflect increased transparency on the topic, in part as a result of the non-exhaustive list of sample questions to be asked at TPRs adopted by the FFSR initiative co-sponsors at MC13.
Under the second pillar — “Crisis support measures” — the coordinator highlighted ongoing efforts to compile information on temporary fossil fuel support measures introduced during the 2022–2023 energy crisis, with the aim of developing a practical set of guidelines to help members design any future such measures effectively. Co-sponsors reaffirmed the usefulness of the work on planned guidelines to help ensure that such measures remain targeted, transparent and temporary.
In conclusion, Ambassador Kelly noted that the next FFSR meeting, scheduled for 2 October 2025, will continue to promote experience-sharing and maintain a focus on the three core pillars of the work programme.
The FFSR initiative seeks to achieve the rationalization, phasing-out or elimination of harmful fossil fuel subsidies through the use of existing mechanisms or the development of new pathways to reform. It encourages WTO members to share information and experiences to advance discussions at the WTO. More information about the FFSR initiative is available here.

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MIL OSI Economics –

July 16, 2025
MIL-OSI Africa: SA to hold a ‘critical‘ meeting with Formula 1 in two weeks

Source: Government of South Africa

Minister of Sport, Arts and Culture, Gayton McKenzie, has revealed that a significant meeting is set to take place in the next two weeks with representatives from Formula 1 (F1).

The Kyalami Grand Prix has been granted permission to modify its design, paving the way for a potential return of F1 to the country.

“Many laughed when I uttered the words ‘Formula 1 must come back to South Africa’. One man in particular, who didn’t laugh was Toby Venter, the owner of the Kyalami racetrack.

“When I told him that government doesn’t have the money to host Formula 1 because of other more urgent priorities and we would not be able to help him pay for the track to reach F1 standards, he looked me in the eye and said he would see it [as] his patriotic duty to do just that.

“We have had multiple meetings with the management of F1, with a crucial one happening in the next two weeks.“

The Minister was speaking in Parliament on Tuesday, presenting a R6.3 billion budget aimed at unlocking local talent in both sports and the arts and culture.

“To those who say the country can’t afford to host the F1, I’m saying the country can’t afford not to… We hosted the best FIFA World Cup. We put our country on the map for big events and should not turn back now.”

According to McKenzie, what will be different this time is that government will not be expected to pay.

Meanwhile, he announced that companies like MTN, MultiChoice, Heineken, and many others have expressed their support for this initiative.

“They will be present with us in the meeting with Formula 1 at the end of the month.”

However, he stressed that those who believe that F1 is not important should consider the countries that are holding onto their F1 spots on the calendar.

“They see the value in it, and it can’t be called a world championship if it misses an entire continent, sub-Saharan Africa in particular.”

He also expressed gratitude to everyone who joined the mission to promote the sport of spinning, including Red Bull and Cell C.

“People were laughing when we said we’re going to make spinning big, but already this sport has left the townships and now Sam Sam is wowing the likes of Max Verstappen with his skills in Austria.”

Samkeliso Thubane, also known as Sam Sam, is a prominent South African spinning motorsport athlete sponsored by Red Bull.

He is recognised as the world’s first official Red Bull spinning athlete and has gained international acclaim for his skills, performing at the reopening of Red Bull Hangar-7 in Austria.

LIV Golf

The country is exploring the potential of bringing a LIV Golf tournament, a professional men’s golf tour, to South Africa as early as next year.

“Golf has not broken through to the masses and we hope to achieve that with LIV Golf. It’s not only golf, but also culture,” McKenzie said.

The Minister said he hoped to eclipse Australia’s attendance of more than 100 000 at a single event over three days.

Olympics

Meanwhile, he said the draft document has been developed, and plans are being finalised to send as many athletes as possible to the next Olympics in Los Angeles in 2028.

The Minister said last year, they travelled to Olympic House in Switzerland to express the country’s interest in hosting the Summer Olympic Games in South Africa in 2036.

VAR

McKenzie announced that they are finalising the funding process for video assistant refereeing (VAR) to ensure fairness in football matches, from the Premier Soccer League to international fixtures — meeting global standards.

“It is a necessity. We see stadiums vandalised when bad refereeing happens, and the success of teams like Mamelodi Sundowns makes global teams want to play here, but they get second thoughts because we don’t have VAR.“ – SAnews.gov.za

MIL OSI Africa –

July 16, 2025
MIL-OSI Analysis: When big sports events like FIFA World Cup expand, their climate footprint expands too
Source: The Conversation – USA (2) – By Brian P. McCullough, Associate Professor of Sport Management, University of Michigan

Lionel Messi celebrates with fans after Argentina won the FIFA World Cup championship in 2022 in Qatar. Michael Regan-FIFA/FIFA via Getty Images

When the FIFA World Cup hits North America in June 2026, 48 teams and millions of soccer fans will be traveling to and from venues spread across the United States, Canada and Mexico.

It’s a dramatic expansion – 16 more teams will be playing than in recent years, with a jump from 64 to 104 matches. The tournament is projected to bring in over US$10 billion in revenue. But the expansion will also mean a lot more travel and other activities that contribute to climate change.

The environmental impacts of giant sporting events like the World Cup create a complex paradox for an industry grappling with its future in a warming world.

A sustainability conundrum

Sports are undeniably experiencing the effects of climate change. Rising global temperatures are putting athletes’ health at risk during summer heat waves and shortening winter sports seasons. Many of the 2026 World Cup venues often see heat waves in June and early July, when the tournament is scheduled.

There is a divide over how sports should respond.

Some athletes are speaking out for more sustainable choices and have called on lawmakers to take steps to limit climate-warming emissions. At the same time, the sport industry is growing and facing a constant push to increase revenue. The NCAA is also considering expanding its March Madness basketball tournaments from 68 teams currently to as many as 76.

Park Yong-woo of team Al Ain from Abu Dhabi tries to cool off during a Club World Cup match on June 26, 2025, in Washington, D.C., which was in the midst of a heat wave. Some players have raised concerns about likely high temperatures during the 2026 World Cup, with matches scheduled June 11 to July 19.
AP Photo/Julia Demaree Nikhinson

Estimates for the 2026 World Cup show what large tournament expansions can mean for the climate. A report from Scientists for Global Responsibility estimates that the expanded World Cup could generate over 9 million metric tons of carbon dioxide equivalent, nearly double the average of the past four World Cups.

This massive increase – and the increase that would come if the NCAA basketball tournaments also expand – would primarily be driven by air travel as fans and players fly among event cities that are thousands of miles apart.

A lot of money is at stake, but so is the climate

Sports are big business, and adding more matches to events like the World Cup and NCAA tournaments will likely lead to larger media rights contracts and greater gate receipts from more fans attending the events, boosting revenues. These are powerful financial incentives.

In the NCAA’s case, there is another reason to consider a larger tournament: The House v. NCAA settlement opened the door for college athletic departments to share revenue with athletes, which will significantly increase costs for many college programs. More teams would mean more television revenue and, crucially, more revenue to be distributed to member NCAA institutions and their athletic conferences.

When climate promises become greenwashing

The inherent conflict between maximizing profit through growth and minimizing environmental footprint presents a dilemma for sports.

Several sport organizations have promised to reduce their impact on the climate, including signing up for initiatives like the United Nations Sports for Climate Action Framework.

However, as sports tournaments and exhibition games expand, it can become increasingly hard for sports organizations to meet their climate commitments. In some cases, groups making sustainability commitments have been accused of greenwashing, suggesting the goals are more about public relations than making genuine, measurable changes.

For example, FIFA’s early claims that it would hold a “fully carbon-neutral” World Cup in Qatar in 2022 were challenged by a group of European countries that accused soccer’s world governing body of underestimating emissions. The Swiss Fairness Commission, which monitors fairness in advertising, considered the complaints and determined that FIFA’s claims could not be substantiated.

Alessandro Bastoni, of Inter Milan and Italy’s national team, prepares to board a flight from Milan to Rome with his team.
Mattia Ozbot-Inter/Inter via Getty Images

Aviation is often the biggest driver of emissions. A study that colleagues and I conducted on the NCAA men’s basketball tournament found about 80% of its emissions were connected to travel. And that was after the NCAA began using the pod system, which is designed to keep teams closer to home for the first and second rounds.

Finding practical solutions

Some academics, observing the rising emissions trend, have called for radical solutions like the end of commercialized sports or drastically limiting who can attend sporting events, with a focus on fans from the region.

These solutions are frankly not practical, in my view, nor do they align with other positive developments. The growing popularity of women’s sports shows the challenge in limiting sports events – more games expands participation but adds to the industry’s overall footprint.

Further compounding the challenges of reducing environmental impact is the amount of fan travel, which is outside the direct control of the sports organization or event organizers.

Many fans will follow their teams long distances, especially for mega-events like the World Cup or the NCAA tournament. During the men’s World Cup in Russia in 2018, more than 840,000 fans traveled from other countries. The top countries by number of fans, after Russia, were China, the U.S., Mexico and Argentina.

There is an argument that distributed sporting events like March Madness or the World Cup can be better in some ways for local environments because they don’t overwhelm a single city. However, merely spreading the impact does not necessarily reduce it, particularly when considering the effects on climate change.

How fans can cut their environmental footprint

Sport organizations and event planners can take steps to be more sustainable and also encourage more sustainable choices among fans. Fans can reduce their environmental impact in a variety of ways. For example:
- Avoid taking airplanes for shorter distances, such as between FIFA venues in Philadelphia, New York and Boston, and carpool or take Amtrak instead. Planes can be more efficient for long distances, but air travel is still a major contributing factor to emissions.
- While in a host city, use mass transit or rent electric vehicles or bicycles for local travel.
- Consider sustainable accommodations, such as short-term rentals that might have a smaller environmental footprint than a hotel. Or stay at a certified green hotel that makes an effort to be more efficient in its use of water and energy.
- Engage in sustainable pregame and postgame activities, such as choosing local, sustainable food options, and minimize waste.
- You can also pay to offset carbon emissions for attending different sporting events, much like concertgoers do when they attend musical festivals. While critics question offsets’ true environmental benefit, they do represent people’s growing awareness of their environmental footprint.
Through all these options, it’s clear that sports face a significant challenge in addressing their environmental impacts and encouraging fans to be more sustainable, while simultaneously trying to meet ambitious business and environmental targets.

In my view, a sustainable path forward will require strategic, yet genuine, commitment by the sports industry and its fans, and a willingness to prioritize long-term planetary health alongside economic gains – balancing the sport and sustainability.

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

– ref. When big sports events like FIFA World Cup expand, their climate footprint expands too – https://theconversation.com/when-big-sports-events-like-fifa-world-cup-expand-their-climate-footprint-expands-too-259437
MIL OSI Analysis –
July 16, 2025
MIL-OSI Analysis: When big sports events like FIFA World Cup expand, their climate footprint expands too
Source: The Conversation – USA (2) – By Brian P. McCullough, Associate Professor of Sport Management, University of Michigan

Lionel Messi celebrates with fans after Argentina won the FIFA World Cup championship in 2022 in Qatar. Michael Regan-FIFA/FIFA via Getty Images

When the FIFA World Cup hits North America in June 2026, 48 teams and millions of soccer fans will be traveling to and from venues spread across the United States, Canada and Mexico.

It’s a dramatic expansion – 16 more teams will be playing than in recent years, with a jump from 64 to 104 matches. The tournament is projected to bring in over US$10 billion in revenue. But the expansion will also mean a lot more travel and other activities that contribute to climate change.

The environmental impacts of giant sporting events like the World Cup create a complex paradox for an industry grappling with its future in a warming world.

A sustainability conundrum

Sports are undeniably experiencing the effects of climate change. Rising global temperatures are putting athletes’ health at risk during summer heat waves and shortening winter sports seasons. Many of the 2026 World Cup venues often see heat waves in June and early July, when the tournament is scheduled.

There is a divide over how sports should respond.

Some athletes are speaking out for more sustainable choices and have called on lawmakers to take steps to limit climate-warming emissions. At the same time, the sport industry is growing and facing a constant push to increase revenue. The NCAA is also considering expanding its March Madness basketball tournaments from 68 teams currently to as many as 76.

Park Yong-woo of team Al Ain from Abu Dhabi tries to cool off during a Club World Cup match on June 26, 2025, in Washington, D.C., which was in the midst of a heat wave. Some players have raised concerns about likely high temperatures during the 2026 World Cup, with matches scheduled June 11 to July 19.
AP Photo/Julia Demaree Nikhinson

Estimates for the 2026 World Cup show what large tournament expansions can mean for the climate. A report from Scientists for Global Responsibility estimates that the expanded World Cup could generate over 9 million metric tons of carbon dioxide equivalent, nearly double the average of the past four World Cups.

This massive increase – and the increase that would come if the NCAA basketball tournaments also expand – would primarily be driven by air travel as fans and players fly among event cities that are thousands of miles apart.

A lot of money is at stake, but so is the climate

Sports are big business, and adding more matches to events like the World Cup and NCAA tournaments will likely lead to larger media rights contracts and greater gate receipts from more fans attending the events, boosting revenues. These are powerful financial incentives.

In the NCAA’s case, there is another reason to consider a larger tournament: The House v. NCAA settlement opened the door for college athletic departments to share revenue with athletes, which will significantly increase costs for many college programs. More teams would mean more television revenue and, crucially, more revenue to be distributed to member NCAA institutions and their athletic conferences.

When climate promises become greenwashing

The inherent conflict between maximizing profit through growth and minimizing environmental footprint presents a dilemma for sports.

Several sport organizations have promised to reduce their impact on the climate, including signing up for initiatives like the United Nations Sports for Climate Action Framework.

However, as sports tournaments and exhibition games expand, it can become increasingly hard for sports organizations to meet their climate commitments. In some cases, groups making sustainability commitments have been accused of greenwashing, suggesting the goals are more about public relations than making genuine, measurable changes.

For example, FIFA’s early claims that it would hold a “fully carbon-neutral” World Cup in Qatar in 2022 were challenged by a group of European countries that accused soccer’s world governing body of underestimating emissions. The Swiss Fairness Commission, which monitors fairness in advertising, considered the complaints and determined that FIFA’s claims could not be substantiated.

Alessandro Bastoni, of Inter Milan and Italy’s national team, prepares to board a flight from Milan to Rome with his team.
Mattia Ozbot-Inter/Inter via Getty Images

Aviation is often the biggest driver of emissions. A study that colleagues and I conducted on the NCAA men’s basketball tournament found about 80% of its emissions were connected to travel. And that was after the NCAA began using the pod system, which is designed to keep teams closer to home for the first and second rounds.

Finding practical solutions

Some academics, observing the rising emissions trend, have called for radical solutions like the end of commercialized sports or drastically limiting who can attend sporting events, with a focus on fans from the region.

These solutions are frankly not practical, in my view, nor do they align with other positive developments. The growing popularity of women’s sports shows the challenge in limiting sports events – more games expands participation but adds to the industry’s overall footprint.

Further compounding the challenges of reducing environmental impact is the amount of fan travel, which is outside the direct control of the sports organization or event organizers.

Many fans will follow their teams long distances, especially for mega-events like the World Cup or the NCAA tournament. During the men’s World Cup in Russia in 2018, more than 840,000 fans traveled from other countries. The top countries by number of fans, after Russia, were China, the U.S., Mexico and Argentina.

There is an argument that distributed sporting events like March Madness or the World Cup can be better in some ways for local environments because they don’t overwhelm a single city. However, merely spreading the impact does not necessarily reduce it, particularly when considering the effects on climate change.

How fans can cut their environmental footprint

Sport organizations and event planners can take steps to be more sustainable and also encourage more sustainable choices among fans. Fans can reduce their environmental impact in a variety of ways. For example:
- Avoid taking airplanes for shorter distances, such as between FIFA venues in Philadelphia, New York and Boston, and carpool or take Amtrak instead. Planes can be more efficient for long distances, but air travel is still a major contributing factor to emissions.
- While in a host city, use mass transit or rent electric vehicles or bicycles for local travel.
- Consider sustainable accommodations, such as short-term rentals that might have a smaller environmental footprint than a hotel. Or stay at a certified green hotel that makes an effort to be more efficient in its use of water and energy.
- Engage in sustainable pregame and postgame activities, such as choosing local, sustainable food options, and minimize waste.
- You can also pay to offset carbon emissions for attending different sporting events, much like concertgoers do when they attend musical festivals. While critics question offsets’ true environmental benefit, they do represent people’s growing awareness of their environmental footprint.
Through all these options, it’s clear that sports face a significant challenge in addressing their environmental impacts and encouraging fans to be more sustainable, while simultaneously trying to meet ambitious business and environmental targets.

In my view, a sustainable path forward will require strategic, yet genuine, commitment by the sports industry and its fans, and a willingness to prioritize long-term planetary health alongside economic gains – balancing the sport and sustainability.

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

– ref. When big sports events like FIFA World Cup expand, their climate footprint expands too – https://theconversation.com/when-big-sports-events-like-fifa-world-cup-expand-their-climate-footprint-expands-too-259437
MIL OSI Analysis –
July 16, 2025
MIL-OSI Asia-Pac: HKTE hosts online and offline career fairs to attract global talent dovetailing Hong Kong’s I&T development (with photos)

Source: Hong Kong Government special administrative region – 4

A spokesman for Hong Kong Talent Engage (HKTE) said today (July 15) that to support Hong Kong’s development as an international innovation and technology (I&T) hub, HKTE had organised three online and offline career fairs during the past three weeks to proactively attract global I&T talent to pursue development in Hong Kong, with a view to contributing to building Hong Kong into an international hub for high-calibre talent.

HKTE held a online career fair last Thursday and Friday (July 10 and 11), featuring 47 renowned enterprises and organisations, to offer nearly 2 000 quality job vacancies across sectors such as data centre operations, cyber security and business analysis.

The online career fair recorded nearly 33 000 visits, featuring job-seeking talent mainly from 14 countries or regions, including the Mainland, Singapore, Malaysia, the United Kingdom, Australia, the United States, Canada, Germany, France and Switzerland, with over 3 000 curricula vitae received. To facilitate connections between job-seeking talent and employers, a one-to-one online meeting session was set up specifically at the career fair, resulting in nearly 5 000 direct dialogues.

A spokesman for the Hong Kong Cyberport Management Company Limited, one of the participating organisations, commented that the career fair facilitated effective interactions between global professionals in artificial intelligence, fintech and smart city technologies as well as digital innovation with Hong Kong employers. Nearly 90 per cent of participating enterprises and organisations expressed satisfaction with the event arrangements and indicated interest in joining future recruitment events organised by HKTE.

In addition, HKTE co-organised physical job fairs with working partners two weeks ago, including the second edition of the Hong Kong International Talents Career Expo 2025 and the NovaX Global Investmatch Carnival 2025, to connect I&T talent and entrepreneurs with employers and investors, facilitating the settlement of talent in Hong Kong.

The spokesman for HKTE added that talent is critical to the promotion of I&T development. HKTE will continue organising diverse activities to assist Hong Kong in attracting international I&T talent, including an online career fair targeting European and American markets in the second half of the year, thereby providing solid talent support for the development of the “eight centres” strategic positioning.

MIL OSI Asia Pacific News –

July 15, 2025
MIL-OSI Asia-Pac: HKTE hosts online and offline career fairs to attract global talent dovetailing Hong Kong’s I&T development (with photos)

Source: Hong Kong Government special administrative region – 4

A spokesman for Hong Kong Talent Engage (HKTE) said today (July 15) that to support Hong Kong’s development as an international innovation and technology (I&T) hub, HKTE had organised three online and offline career fairs during the past three weeks to proactively attract global I&T talent to pursue development in Hong Kong, with a view to contributing to building Hong Kong into an international hub for high-calibre talent.

HKTE held a online career fair last Thursday and Friday (July 10 and 11), featuring 47 renowned enterprises and organisations, to offer nearly 2 000 quality job vacancies across sectors such as data centre operations, cyber security and business analysis.

The online career fair recorded nearly 33 000 visits, featuring job-seeking talent mainly from 14 countries or regions, including the Mainland, Singapore, Malaysia, the United Kingdom, Australia, the United States, Canada, Germany, France and Switzerland, with over 3 000 curricula vitae received. To facilitate connections between job-seeking talent and employers, a one-to-one online meeting session was set up specifically at the career fair, resulting in nearly 5 000 direct dialogues.

A spokesman for the Hong Kong Cyberport Management Company Limited, one of the participating organisations, commented that the career fair facilitated effective interactions between global professionals in artificial intelligence, fintech and smart city technologies as well as digital innovation with Hong Kong employers. Nearly 90 per cent of participating enterprises and organisations expressed satisfaction with the event arrangements and indicated interest in joining future recruitment events organised by HKTE.

In addition, HKTE co-organised physical job fairs with working partners two weeks ago, including the second edition of the Hong Kong International Talents Career Expo 2025 and the NovaX Global Investmatch Carnival 2025, to connect I&T talent and entrepreneurs with employers and investors, facilitating the settlement of talent in Hong Kong.

The spokesman for HKTE added that talent is critical to the promotion of I&T development. HKTE will continue organising diverse activities to assist Hong Kong in attracting international I&T talent, including an online career fair targeting European and American markets in the second half of the year, thereby providing solid talent support for the development of the “eight centres” strategic positioning.

MIL OSI Asia Pacific News –

July 15, 2025
MIL-OSI: CoinShares Announces Amendment to Financial Calendar

Source: GlobeNewswire (MIL-OSI)

Tuesday, 15 July 2025 | SAINT HELIER, Jersey – CoinShares International Limited (“CoinShares” or the “Company“) (Nasdaq Stockholm Market: CS; US OTCQX: CNSRF), a global investment firm specialising in digital assets, today announces an amendment to the Company’s financial calendar published on its website, https://coinshares.com.

In addition to the quarterly earnings reports the Company has released since 2021, CoinShares has also historically elected to engage its auditors to provide an interim review opinion. While this was performed as part of the Q3 earnings during 2023 and 2024, it has been determined that the Company will now perform this review at the halfway point of the year. As such, the release date for the Q2 earnings as per the Company’s website has been amended from 19 August 2025 to 29 August 2025.

This is to allow sufficient time for the requisite work to be performed by the Group’s auditors for provision of the review opinion.

About CoinShares

CoinShares is a leading global investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

The MIL Network –

July 15, 2025
MIL-OSI: StepStone Group Expands Investor Access to Evergreen Funds with Goji’s Technology
Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 15, 2025 (GLOBE NEWSWIRE) — StepStone Group (Nasdaq: STEP), a global private markets solutions provider, announced today that it is utilizing Goji’s technology to improve access to several of its European private market evergreen funds. Goji is a global provider of technology-enabled solutions to the private markets. Its end-to-end investment platform will simplify the complexities of the investor journey for several of StepStone’s funds:
- StepStone Private Markets (Luxembourg) (“SPRIM Lux”) spans private equity, real assets and private debt, giving access to top investment managers worldwide, while seeking to provide long-term capital appreciation, ordinary income and substantial diversification through a single investment. As of May 31, 2025, SPRIM Lux had $351 million in assets under management, or AUM and had delivered a 43.81%¹ total net return since inception in September of 2022.
- StepStone Private Venture and Growth (Luxembourg) (“SPRING Lux”) is a broadly diversified venture and growth strategy fund leveraging an open architecture approach, selecting managers across the innovation economy. As of May 31, 2025, SPRING Lux had $427 million in AUM and had delivered a 70.65%² total net return since inception in November of 2022.
- StepStone Private Infrastructure (Luxembourg) (“STRUCTURE Lux”) seeks to provide current income and long-term capital appreciation by offering access to a global investment portfolio of private infrastructure assets. As of May 31, 2025, STRUCTURE Lux had $89.9 million in AUM and had delivered a 32.24%³ total net return since inception in September of 2023.
- StepStone Private Credit Europe ELTIF (“SCRED Europe”) is structured to offer access to a broadly diversified, European-focused private credit strategy, with a primary focus on senior secured direct lending. The fund successfully launched in February 2025 with over €250 million in seed capital, backed by a robust pipeline of opportunities.
“Goji shares our vision of delivering an industry-leading, tailor-made onboarding experience for our investors across the globe,” said Neil Menard, Partner and President of Distribution at StepStone Private Wealth. “Powered by Euroclear, their best-in-class digital infrastructure and deep understanding of regulatory requirements across different markets will enable us to provide our investors with a more streamlined, efficient investment experience.”

About StepStone Group

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of March 31, 2025, StepStone was responsible for approximately $709 billion of total capital, including $189 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

About Goji

Goji is a leading provider of investor platform technology and services. With the private asset market opening to new classes of investors, Goji makes it easy for asset managers, fund administrators and asset owners to give all investors digital access to private funds and stay ahead of their industry competitors. Goji’s best-in-class platform, which is secure, scalable, and customizable, unlocks new topline revenue and reduces costs. The company serves over 30,000 investors from more than 86 jurisdictions. As part of the Euroclear group, Goji has helped build a global network for private funds, combining Goji’s platform technology and Euroclear’s financial markets infrastructure to create scalability and growth for all participants. Goji is headquartered in the UK and is regulated by the FCA.  

Contacts

Media:
Brian Ruby / Chris Gillick / Matt Lettiero, ICR
StepStonePR@icrinc.com
1-203-682-8268

______________________________
¹ This figure reflects the returns of the Class A (EUR) shares of SPRIM Lux. The performance does not fully represent the performance across all of the share classes of SPRIM Lux.
² This figure reflects the returns of the Class A (USD) shares of SPRING Lux. The performance does not fully represent the performance across all of the share classes of SPRING Lux.
³ This figure reflects the returns of the Class E (USD) shares of STRUCTURE Lux. The performance does not fully represent the performance across all of the share classes of STRUCTURE Lux. Class E (USD) shares are available for subscription only by employees or affiliates of the StepStone Group and are not subject to the investment management fee or the incentive fee. [Performance shown for the Class E (USD) shares assumes the Investment Management Fee or the Incentive Fee were charged since Class E (USD) shares inception on 27 September 2023.

THIS DOCUMENT IS A MARKETING COMMUNICATION. PLEASE REFER TO THE OFFERING MEMORANDUM OF SPRIM LUX, SPRING LUX, STRUCTURE LUX AND SCRED EUROPE (COLLECTIVELY, THE “FUNDS”) BEFORE MAKING ANY FINAL INVESTMENT DECISIONS.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ACTUAL PERFORMANCE MAY VARY.

This document is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, or as an offer to provide advisory or other services by StepStone Group Private Wealth LLC (“SPW”), StepStone Group LP (“StepStone”), StepStone Group Europe Alternative Investments Limited (“SGEAIL”) or their subsidiaries or affiliates (collectively, the “Managers”) in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this document should not be construed as legal, financial or investment advice on any subject matter. The Managers expressly disclaim all liability in respect to actions taken based on any or all of the information in this document.

Before investing you should carefully consider the Funds’ investment objectives, risks, charges and expenses. This and other information are explained in the relevant Offering Memorandum for each Fund, a copy of which may be obtained from SGEAIL upon request.

Information contained herein is subject to change and amendment. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind.

Interests in the Funds are not registered under the U.S. Securities Act of 1933, as amended or any similar U.S. state securities statutes and the Funds are generally not offered to US Persons (as defined in the relevant Offering Memorandum).

Prospective investors should inform themselves and obtain appropriate advice as to any applicable legal or regulatory requirements and any applicable taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant to the suitability, subscription, purchase, holding, exchange, redemption or disposal of any investments.

An investment involves a number of risks and there are conflicts of interest. Please refer to the risks outlined in detail in the relevant Offering Memorandum for each Fund.

Marketing in the European Union

The Funds are alternative investment funds (“AIFs”) for the purpose of Alternative Investment Fund Managers Directive (“AIFMD”). SGEAIL is the alternative investment fund manager (“AIFM”) of the Funds.

The Funds that do not qualify as ELTIFs can be marketed to Professional Investors in the EEA in accordance with the requirements set out in Article 32 of AIFMD.

Marketing of the Funds outside the EEA or in the EEA to investors other than Professional Investors (where relevant) must comply with applicable national private placement regimes. Those investors are required to inform themselves of any applicable local requirements or restrictions before investing in the Funds and to assess the impact of any risks they may be exposed to when investing in the Funds.

Notice to all European Economic Area (EEA) residents

In the EEA, this document is disseminated by SGEAIL.

The Funds may only be offered or placed in an EEA Member State: (1) to Professional Investors to the extent that they have been registered for marketing in the relevant EEA Member State in accordance with Article 32 AIFMD (as amended and as implemented into the local law/regulation of the relevant EEA Member State); (2) to non-professional investors who meet the requirements of any national law/regulation which permits them to invest in AIFs, as specifically identified below; or (3) as they may otherwise be lawfully offered or placed in that EEA Member State, including at the exclusive initiative of an investor where permitted in accordance with the AIFMD.

A list of the EEA Member States in which the Funds are registered for marketing under Article 32 AIFMD is available from the Managers upon request.

Notice to investors in Austria

Certain of the Funds have been notified to the Austrian Financial Market Authority (FMA) for marketing to professional investors (Professionelle Anleger) within the meaning of § 2 para 1 no 33 of the Austrian Alternative Investment Funds Act (Alternative Investmentfonds Manager-Gesetz; AIFMG) in accordance with Article 32 AIFMD and § 31 AIFMG. In the Republic of Austria, the relevant Funds may only be offered or placed and any offering or marketing materials related thereto may only be distributed to investors who are either (a) professional investors (Professionelle Anleger) as defined in § 2 para 1 no 33 AIFMG or where relevant (b) qualified retail investors (Qualifizierte Privatkunden) as defined in § 2 para 1 no 42 AIFMG. Distribution of the relevant Funds and any offering or marketing materials related thereto to retail investors (Privatkunden) as defined in § 2 para 1 no 36 AIFMG in the Republic of Austria is not permitted. Subscriptions by retail investors (Privatkunden) will therefore not be accepted. None of the Managers or the relevant Funds are subject to supervision by the FMA or any other Austrian authority. Neither the relevant Offering Memorandum, nor the relevant key information document (KID) have been reviewed by the FMA or any other Austrian authority.

Notice to professional and semi-professional investors in Germany

Certain of the Funds have been notified to the German Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BAFIN) in accordance with Section 323 of the German investment code (Kapitalanlagegesetzbuch – KAGB).

The relevant Funds may only be marketed and offered to professional and, where relevant to semi-professional investors in the Federal Republic of Germany, as defined in Section 1 (19) nos. 32 and 33 of the KAGB. The relevant Funds have not been admitted for marketing to retail investors within the meaning of Section 1 (19) no. 31 of the KAGB in Germany. Accordingly, the relevant Funds may not be offered and marketed to retail investors in Germany. This disclosure, the relevant Offering Memorandum and any other document relating to the relevant Funds, as well as information or statements contained therein, may not be supplied to retail investors in Germany or any other means of public marketing. Any resale of the relevant Funds in Germany may only be made to professional and semi-professional investors in Germany and in accordance with the provisions of the KAGB and any other applicable laws in Germany governing the sale and offering of the relevant Funds.

Notice to investors in Italy

Certain of the Funds have been passported with the Commissione Nazionale per le Società e la Borsa (CONSOB) for the marketing in Italy vis-à-vis professional investors in accordance with Article 32 AIFMD, article 43 of the Italian Legislative Decree of 24th February 1998, no. 58 (testo unico della finanza, the “TUF”) and relevant local implementing regulations in Italy. The relevant Funds may be distributed exclusively to the following categories of investors: (i) “professional investors” as defined in the AIFMD; or where relevant (ii) “non-professional investors” who: (1) invest at least EUR 500,000 in the relevant Fund; or (2) invest at least EUR 100,000 in the relevant Fund, and in the case of the latter, either: (a) the investment is made by a licensed portfolio manager on behalf of the non-professional investor; or (b) the investment is made by the non-professional investor in the context of the provision of investment advice, and is subject to the requirement that the entirety of any investments by that same non-professional investor in EU AIFs does not exceed ten percent (10%) of his or her financial portfolio as a result of a subscription or investment in the relevant Fund.

Notice to investors in Switzerland

The offer and the marketing of the Funds in Switzerland will be exclusively made to, and directed at, qualified investors (the “Qualified Investors”), as defined in Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act (“CISA”) and its implementing ordinance, at the exclusion of qualified investors with an opting-out pursuant to Article 5(1) of the Swiss Federal Law on Financial Services (“FinSA”) and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA (“Excluded Qualified Investors”). Accordingly, the Funds have not been and will not be registered with the Swiss Financial Market Supervisory Authority (“FINMA”) and no representative or paying agent have been or will be appointed in Switzerland. This document and/or any other offering or marketing materials relating to The Funds may be made available in Switzerland solely to Qualified Investors, at the exclusion of Excluded Qualified Investors. The legal documents of the Funds may be obtained free of charge from the Managers.

Notice to investors in the United Kingdom

The Funds are alternative investment funds for the purpose of the Alternative Investment Fund Managers Regulations, 2013, as amended by the Alternative Investment Managers (Amendment, etc.) (EU Exit) Regulations 2019 (“UK AIFM Regulations”). SGEAIL is the alternative investment fund manager (“AIFM”) of the Funds.

The Funds have been registered for marketing under Regulation 59(1) of the UK AIFM Regulations. On that basis, the Funds may be marketed in the United Kingdom to UK persons who qualify as Professional Investors.

The MIL Network –
July 15, 2025
MIL-OSI: XRP is attracting much attention, and LET Mining has launched a new cloud mining service program to obtain daily income
Source: GlobeNewswire (MIL-OSI)

New York City, NY, July 14, 2025 (GLOBE NEWSWIRE) — Remittix (RTX) has attracted much attention from many investors, especially in the cross-border payment market. It is hailed as the most worthwhile cryptocurrency to buy at present.
In response, LET Mining, the world’s leading intelligent cloud mining platform, launched a new mining service program that can use XRP to pay for the start-up plan, bringing a new and efficient “passive income” path to XRP holders.

For a long time, many investors have chosen to “hold coins for appreciation”, storing XRP in their wallets and waiting for the market to rise. However, this method has unstable income and cannot generate income during price sideways or adjustment periods.
LET Mining launches XRP cloud mining service plan
LET Mining’s new plan supports users to use XRP to remotely start computing power contracts and participate in the mining process of mainstream currencies such as BTC and DOGE. The advantages include:
○ XRP direct charging mining: no need to exchange other currencies, more convenient operation
○ Daily automatic settlement: income is credited in real time, support withdrawal or reinvestment at any time
○ Green energy mine: deployed in low-carbon areas such as Iceland and Switzerland, environmental protection compliance
○ Mobile terminal support: App operation is simple, control mining progress anytime, anywhere
How to quickly use XRP to start cloud computing service with one click
1. Register an account
Visit the LET Mining official website: https://letmining.com/, quickly register an account, and register new users to get a $12 registration reward.
2. Top up XRP
Select “XRP Top up” in the account, the system will generate an XRP wallet address, copy the address and transfer it from the exchange or personal wallet. (50XRP is enough to participate, the target label is the date of each day, for example: 20250714)
3. Choose a contract plan
The platform provides a variety of cloud mining contracts, including short-term stable, long-term compound interest and high-yield types, which can be freely selected.
●Experience Contract: Investment amount: $100, contract period: 2 days, daily income of $4, expiration income: $100 + $8
●BTC Classic Hash Power: Investment amount: $500, contract period: 5 days, daily income of $6, expiration income: $500 + $30
●BTC Classic Hash Power: Investment amount: $1,800, contract period: 12 days, daily income of $23.76, expiration income: $1,800 + $285.12
●BTC Advanced Hash Power: Investment amount: $5,000, contract period: 29 days, daily income of $76.5, expiration income: $5,000 + $2,218.5
●BTC Advanced Hash Power: Investment amount: $10,000, contract period: 43 days, daily income of $174, expiration income: $10,000 + $7,482
(Click here to view more high-yield contract details)
4. Start earning income
After the contract is activated, the system will distribute mining income in proportion every day, and can be withdrawn to the XRP wallet address at any time, truly realizing “holding coins to make money” and easily enjoying digital passive income.
Why is XRP so popular now?
Recently, as Ripple has made key progress in the compliance process, XRP has been re-incorporated into mainstream trading platforms in many countries and regions, further consolidating its market position. At the same time, the overall crypto market has gradually recovered, and institutions and retail investors have returned, pushing XRP to become an important part of the future mainstream asset allocation.
And LET Mining’s new strategy-users can use XRP to directly start cloud mining contracts to achieve stable daily income, and assets can increase steadily regardless of market fluctuations.
As the XRP ecosystem continues to expand and favorable policies emerge frequently, LET Mining’s smart cloud mining solution provides a risk-free and efficient asset appreciation channel for coin holders. Join LET Mining now and let your XRP no longer just be held, but create value every day!
Official website: https://letmining.com/
Contact email: info@letmining.com

Attachment
- LET Mining
The MIL Network –
July 15, 2025
MIL-OSI: XRP is attracting much attention, and LET Mining has launched a new cloud mining service program to obtain daily income
Source: GlobeNewswire (MIL-OSI)

New York City, NY, July 14, 2025 (GLOBE NEWSWIRE) — Remittix (RTX) has attracted much attention from many investors, especially in the cross-border payment market. It is hailed as the most worthwhile cryptocurrency to buy at present.
In response, LET Mining, the world’s leading intelligent cloud mining platform, launched a new mining service program that can use XRP to pay for the start-up plan, bringing a new and efficient “passive income” path to XRP holders.

For a long time, many investors have chosen to “hold coins for appreciation”, storing XRP in their wallets and waiting for the market to rise. However, this method has unstable income and cannot generate income during price sideways or adjustment periods.
LET Mining launches XRP cloud mining service plan
LET Mining’s new plan supports users to use XRP to remotely start computing power contracts and participate in the mining process of mainstream currencies such as BTC and DOGE. The advantages include:
○ XRP direct charging mining: no need to exchange other currencies, more convenient operation
○ Daily automatic settlement: income is credited in real time, support withdrawal or reinvestment at any time
○ Green energy mine: deployed in low-carbon areas such as Iceland and Switzerland, environmental protection compliance
○ Mobile terminal support: App operation is simple, control mining progress anytime, anywhere
How to quickly use XRP to start cloud computing service with one click
1. Register an account
Visit the LET Mining official website: https://letmining.com/, quickly register an account, and register new users to get a $12 registration reward.
2. Top up XRP
Select “XRP Top up” in the account, the system will generate an XRP wallet address, copy the address and transfer it from the exchange or personal wallet. (50XRP is enough to participate, the target label is the date of each day, for example: 20250714)
3. Choose a contract plan
The platform provides a variety of cloud mining contracts, including short-term stable, long-term compound interest and high-yield types, which can be freely selected.
●Experience Contract: Investment amount: $100, contract period: 2 days, daily income of $4, expiration income: $100 + $8
●BTC Classic Hash Power: Investment amount: $500, contract period: 5 days, daily income of $6, expiration income: $500 + $30
●BTC Classic Hash Power: Investment amount: $1,800, contract period: 12 days, daily income of $23.76, expiration income: $1,800 + $285.12
●BTC Advanced Hash Power: Investment amount: $5,000, contract period: 29 days, daily income of $76.5, expiration income: $5,000 + $2,218.5
●BTC Advanced Hash Power: Investment amount: $10,000, contract period: 43 days, daily income of $174, expiration income: $10,000 + $7,482
(Click here to view more high-yield contract details)
4. Start earning income
After the contract is activated, the system will distribute mining income in proportion every day, and can be withdrawn to the XRP wallet address at any time, truly realizing “holding coins to make money” and easily enjoying digital passive income.
Why is XRP so popular now?
Recently, as Ripple has made key progress in the compliance process, XRP has been re-incorporated into mainstream trading platforms in many countries and regions, further consolidating its market position. At the same time, the overall crypto market has gradually recovered, and institutions and retail investors have returned, pushing XRP to become an important part of the future mainstream asset allocation.
And LET Mining’s new strategy-users can use XRP to directly start cloud mining contracts to achieve stable daily income, and assets can increase steadily regardless of market fluctuations.
As the XRP ecosystem continues to expand and favorable policies emerge frequently, LET Mining’s smart cloud mining solution provides a risk-free and efficient asset appreciation channel for coin holders. Join LET Mining now and let your XRP no longer just be held, but create value every day!
Official website: https://letmining.com/
Contact email: info@letmining.com

Attachment
- LET Mining
The MIL Network –
July 15, 2025
MIL-OSI: Transocean Ltd. Announces Second Quarter 2025 Earnings Release Date

Source: GlobeNewswire (MIL-OSI)

STEINHAUSEN, Switzerland, July 14, 2025 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today that it will report earnings for the second quarter 2025 on Monday, August 4, 2025. The company will conduct a teleconference starting at 9 a.m. EDT, 3 p.m. CEST, on Tuesday, August 5, 2025.

Individuals who wish to participate in the teleconference should dial +1 785-424-1116 approximately 15 minutes prior to the scheduled start time and refer to conference code 125397. A listen-only simulcast of the teleconference can be accessed at: www.deepwater.com, by selecting Investors, News, and Webcasts. A replay of the teleconference will be available after 12 p.m. EDT, 6 p.m. CEST, on August 5, 2025. The replay, which will be archived for approximately 30 days, can be accessed at +1 402-220-2972, passcode 125397. The replay also will be available on the company’s website.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in and operates a fleet of 32 mobile offshore drilling units, consisting of 24 ultra-deepwater floaters and eight harsh environment floaters.

For more information about Transocean, please visit: www.deepwater.com.

Analyst Contact:
Alison Johnson
+1 713-232-7214

Media Contact:
Pam Easton
+1 713-232-7647

The MIL Network –

July 15, 2025
MIL-OSI Video: How one global health org protects lives, prepares for the toughest scenarios: Gavi CEO

Source: World Economic Forum (video statements)

How does the CEO of an organization brought in to help respond to fast-moving health crises like Mpox and other infectious diseases plan for the unexpected? Sania Nishtar heads up Gavi – The Vaccine Alliance, an organization that has helped vaccinate over one billion children in the world’s poorest countries and prevent more than 18 million deaths worldwide. Sania talks to us about the planning, mindsets, technologies and scenario planning her team uses to be ready for any emergency. She explains the importance of securing ‘crystal clarity’ in advance for what its expected to deliver and how that helps the organization prepare for a range of circumstances and efficiently coordinate with governments and other global organizations when time is of the essence. This organization was launched at Davos 25 years ago and she shares what what’s needed for global health security and strengthened public health systems now and in months and years ahead.

This interview was recorded in January 2025 at the Annual Meeting in Davos, Switzerland.

About this episode:
Gavi: https://www.gavi.org/

Transcript: https://www.weforum.org/podcasts/meet-the-leader/episodes/sania-nishtar-gavi-preparation-global-health

Related podcasts:
What most people get wrong about progress: Harvard psychologist Steven Pinker: https://www.youtube.com/watch?v=Y2IJjZs4E7A&t=51s

We’re ‘losing the war’ on modern slavery: What leaders can do – HPE’s John Schultz: https://www.youtube.com/watch?v=HlXggC3o08I&t=1s

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

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/
Twitter ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#WorldEconomicForum

https://www.youtube.com/watch?v=F2xYpxNICUQ

MIL OSI Video –

July 15, 2025
MIL-OSI Europe: Briefing – Linking the EU and UK emissions trading systems – 14-07-2025

Source: European Parliament

Since the origin of the EU emissions trading system (EU ETS), the EU has embraced the concept of international carbon markets to reduce greenhouse gas (GHG) emissions globally. The EU-Swiss ETS linkage set a precedent for potential expansion. As the world’s first carbon market, the EU has long led the development of carbon pricing, and the EU’s and UK’s decision to link their systems is a significant endorsement of this approach. This briefing presents an overview of the potential linkage between the EU ETS and the UK’s emissions trading system (UK ETS), following the recent political announcements. The EU and UK have long been committed to addressing the pressing issue of climate change, and the linkage of their ETSs is a crucial step towards achieving this goal. Linking the EU and UK ETSs could generate benefits in terms of sustainable economic growth and improved energy security, and protect the climate. The linkage can also provide a strong political message. The EU ETS and UK ETS share many similarities, including their cap-and-trade design and coverage of key sectors such as energy, industry, and aviation. However, there are also some notable differences between the two systems, such as sectoral scope, market instruments, and price levels. For example, the EU ETS could include the GHG emissions from road transport and heating of buildings (ETS2) in the future, while the UK ETS does not include a similar system. Despite these differences, the UK ETS should fulfil the obligations for linkage with the EU ETS, and analysis suggests that the benefits of linking the two systems could be significant. These benefits include increased market access, reduced carbon leakage, and improved climate action. By linking their ETSs, the EU and UK can create a larger, more liquid market for carbon allowances, which can help to drive down costs and increase investment in low-carbon technologies.

MIL OSI Europe News –

July 15, 2025
MIL-OSI USA: UPDATE – Sandoz Inc. Issues Voluntary Nationwide Recall Expansion of One Additional Lot of Cefazolin for Injection Due to Product Mislabeling

Source: US Department of Health and Human Services – 3

Summary

Company Announcement Date:
July 14, 2025
FDA Publish Date:
July 14, 2025
Reason for Announcement:

Recall Reason Description
Vials incorrectly labelled as Penicillin G Potassium for Injection contain Cefazolin for Injection

Company Name:
Sandoz, Inc.
Brand Name:

Brand Name(s)
Sandoz

Product Description:

Product Description
Cefazolin for Injection, USP, 1 gm vial

Company Announcement
“This is an update to the Company Statement issued on June 27, 2025, to include one additional lot.”
FOR IMMEDIATE RELEASE – Princeton, NJ – July 14, 2025 – Sandoz, Inc. (“Sandoz”) is initiating a voluntary nationwide recall expansion of one additional lot of Cefazolin for Injection, USP, 1 gram per vial. The lot is being recalled due to a customer complaint indicating that four (4) vials incorrectly labelled as Penicillin G Potassium for Injection, USP, 20 million Units were included in cartons (25 vials per carton) of Cefazolin for Injection, USP 1 gram per vial product. Sandoz has confirmed that the vials incorrectly labelled as Penicillin G Potassium for Injection contain Cefazolin for Injection, USP, 1 gram per vial.
Risk Statement: There is a reasonable probability that the inadvertent administration of cefazolin injection following dosing recommendation of penicillin G potassium injection due to mislabeling may pose serious and potentially life-threatening adverse health consequences, including lack of efficacy leading to less than optimal treatment of severe infections, antibiotic resistance, adverse reactions, severe allergic reactions (e.g., anaphylaxis), drug interactions, and delayed recovery.
To date, Sandoz has not received any reports of adverse events or injuries related to the product mislabeling. Sandoz has received a complaint of administration of the incorrectly labelled product to a patient.
Lots impacted by the voluntary recall and its expansion:

Product Name

Vial NDC

Carton NDC

Lot Number

Expiration Date

Manufacturer

Distributor

Cefazolin for Injection, USP(25 by 1g vials)

0781-3451-70

0781-3451-96

PG4360

2027-NOV

Sandoz GmbH

Sandoz Inc

Penicillin G Potassium for Injection, USP

0781-6136-94

N/A

PG4360

2027-NOV

Sandoz GmbH

Sandoz Inc

Cefazolin for Injection, USP(25 by 1g vials)

0781-3451-70

0781-3451-96

PG4362

2027-NOV

Sandoz GmbH

Sandoz Inc

Penicillin G Potassium for Injection, USP

0781-6136-94

N/A

PG4362

2027-NOV

Sandoz GmbH

Sandoz Inc

Cefazolin for Injection USP is used for the treatment of infections caused by certain bacteria in many different parts of the body including the treatment of pneumonia. Cefazolin for Injection USP can also be used to prevent infections, before and after surgery. Antibacterial drugs like Cefazolin for Injection USP treat only bacterial infections. They do not treat viral infections. Cefazolin for Injection USP is indicated for adult, elderly, pediatric patients, including newborn term infants.
Penicillin G Potassium for Injection is indicated in the treatment of certain serious infections including septicemia, skin and wound infections. It is also approved for the treatment of diphtheria, community-acquired pneumonia, peritonitis, meningitis/brain abscesses, osteomyelitis, infections of the genital tract, anthrax, tetanus, gas gangrene, listeriosis, pasteurellosis, rat bite fever, fusospirochetes, actinomycosis, complications in gonorrhea and syphilis and Lyme. To reduce the development of drug-resistant bacteria and maintain effectiveness of Penicillin G Potassium for Injection, USP and other antibacterial drugs, Penicillin G Potassium for Injection, USP should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria. Penicillin G Potassium for Injection is indicated for use in adults, adolescents, children, pediatric, newborn infants and preterm infants.
Although both Cefazolin and Penicillin G Potassium belong to the beta-lactam group of antibiotics, they are indicated for different types of infections, and the spectrum of susceptible organisms also differs. Additionally, while the patient populations overlap, each medicine has specific on-label distinct groups, and the dosing regimens may differ, as well.
Sandoz is notifying its customers by letter and is arranging for return of the recalled product. The product being recalled was shipped to select wholesalers for further distribution nationwide. Healthcare providers and customers who have this product should immediately stop use of this lot only and contact Sedgwick, the Sandoz Reverse Distributor, directly by phone at (844) 265-7409 or by email at Sandoz5615@sedgwick.com.
For questions about the recall process, please call Sedgwick at (844) 265-7409 between the hours of 8:00 AM to 5:00 PM Monday – Friday (EST).
Please report any adverse reactions by calling Sandoz at (800) 525-8747. Customer service agents are available from 8:30 AM to 5:00 PM (EST), Monday-Friday, except on national holidays.
Adverse reactions or quality problems experienced with the use of this product may be reported to the FDA’s MedWatch Adverse Event Reporting program either online, by regular mail, or by fax.

This recall is being conducted with the knowledge of the U.S. Food and Drug Administration.
DISCLAIMERThis Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law.
ABOUT SANDOZSandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion.
Link to Original Press Release

Company Contact Information

Media:
Jeanne LaCour, Vicki Crafton
1-609-955-2339, 1-201-213-6338

Product Photos

MIL OSI USA News –

July 15, 2025
MIL-OSI United Nations: Gaza: UNICEF mourns seven children killed queuing for water

Source: United Nations 2

The incident occurred in central Gaza on Sunday, according to media reports, which said that four other people also lost their lives due to the Israeli airstrike.

The Israeli military said it had been targeting a terrorist but a “technical error” saw the munition stray off course.

Uphold protection of children

UNICEF Executive Director Catherine Russell noted that the incident came just days after several women and children were killed while lining up for nutritional supplies.

“The Israeli authorities must urgently review the rules of engagement and ensure full compliance with international humanitarian law, notably the protection of civilians, including children,” she wrote in a statement posted on X.

The UN has repeatedly deplored the killing of Palestinians seeking food aid amid the dire humanitarian situation in Gaza, where food security experts have warned that the entire population is not getting enough to eat.

Stockpiles of food available

Meanwhile, “truckloads of food and medical supplies are waiting in warehouses” just outside the enclave, UN Palestine refugee agency UNRWA said in a tweet.

It included a quote from one of its health workers who said that “in the past, I only saw such cases of malnutrition in textbooks and documentaries. Today, I am treating them face to face in the health centre.”

UNRWA appealed for starvation of civilians to stop and for the siege to be lifted.

“Let the UN, including UNRWA, do its lifesaving work,” the tweet said.

West Bank annexation ‘well underway’

Separately, UNRWA also highlighted the situation of Palestinians in the occupied West Bank against the backdrop of the war in Gaza.

Agency chief Philippe Lazzarini told an international conference in Switzerland on Monday that “annexation is well underway.”

UNRWA said “this is not just destruction: it is part of systematic forced displacement, a violation of international law, and a form of collective punishment.”

In January, Israeli forces launched operations in Tulkarm and Jenin in the West Bank, which UNRWA has previously said are the most extensive in two decades.

Humanitarians reported last week that the operations are causing massive destruction and displacement while attacks by Israeli settlers have intensified.

MIL OSI United Nations News –

July 15, 2025
MIL-OSI Analysis: 2026 FIFA World Cup expansion will have a big climate footprint, with matches from Mexico to Canada – here’s what fans can do
Source: The Conversation – USA (2) – By Brian P. McCullough, Associate Professor of Sport Management, University of Michigan

Lionel Messi celebrates with fans after Argentina won the FIFA World Cup championship in 2022 in Qatar. Michael Regan-FIFA/FIFA via Getty Images

When the FIFA World Cup hits North America in June 2026, 48 teams and millions of sports fans will be traveling among venues spread across Canada, the United States and Mexico.

It’s a dramatic expansion – 16 more teams will be playing than in recent years, with a jump from 64 to 104 matches. The tournament, whether you call it soccer or football, is projected to bring in over US$10 billion in revenue. But the expansion will also mean a lot more travel and other activities that contribute to climate change.

The environmental impacts of giant sporting events like the World Cup create a complex paradox for an industry grappling with its future in a warming world.

A sustainability conundrum

Sports are undeniably experiencing the effects of climate change. Rising global temperatures are putting athletes’ health at risk during summer heat waves and shortening winter sports seasons. Many of the 2026 World Cup venues often see heat waves in June and early July, when the tournament is scheduled.

There is a divide over how sports should respond.

Some athletes are speaking out for more sustainable choices and have called on lawmakers to take steps to limit climate-warming emissions. At the same time, the sport industry is growing and facing a constant push to increase revenue. The NCAA is also considering expanding its March Madness basketball tournaments from 68 teams currently to as many as 76.

Park Yong-woo of team Al Ain from Abu Dhabi tries to cool off during a Club World Cup match on June 26, 2025, in Washington, D.C., which was in the midst of a heat wave. Some players have raised concerns about likely high temperatures during the 2026 World Cup, with matches scheduled June 11 to July 19.
AP Photo/Julia Demaree Nikhinson

Estimates for the 2026 World Cup show what large tournament expansions can mean for the climate. A report from Scientists for Global Responsibility estimates that the expanded World Cup could generate over 9 million metric tons of carbon dioxide equivalent, nearly double the average of the past four World Cups.

This massive increase – and the increase that would come if the NCAA basketball tournaments also expand – would primarily be driven by air travel as fans and players fly among event cities that are thousands of miles apart.

A lot of money is at stake, but so is the climate

Sports are big business, and adding more matches to events like the World Cup and NCAA tournaments will likely lead to larger media rights contracts and greater gate receipts from more fans attending the events, boosting revenues. These are powerful financial incentives.

In the NCAA’s case, there is another reason to consider a larger tournament: The House v. NCAA settlement opened the door for college athletic departments to share revenue with athletes, which will significantly increase costs for many college programs. More teams would mean more television revenue and, crucially, more revenue to be distributed to member NCAA institutions and their athletic conferences.

When climate promises become greenwashing

The inherent conflict between maximizing profit through growth and minimizing environmental footprint presents a dilemma for sports.

Several sport organizations have promised to reduce their impact on the climate, including signing up for initiatives like the United Nations Sports for Climate Action Framework.

However, as sports tournaments and exhibition games expand, it can become increasingly hard for sports organizations to meet their climate commitments. In some cases, groups making sustainability commitments have been accused of greenwashing, suggesting the goals are more about public relations than making genuine, measurable changes.

For example, FIFA’s early claims that it would hold a “fully carbon-neutral” World Cup in Qatar in 2022 were challenged by a group of European countries that accused soccer’s world governing body of underestimating emissions. The Swiss Fairness Commission, which monitors fairness in advertising, considered the complaints and determined that FIFA’s claims could not be substantiated.

Alessandro Bastoni, of Inter Milan and Italy’s national team, prepares to board a flight from Milan to Rome with his team.
Mattia Ozbot-Inter/Inter via Getty Images

Aviation is often the biggest driver of emissions. A study that colleagues and I conducted on the NCAA men’s basketball tournament found about 80% of its emissions were connected to travel. And that was after the NCAA began using the pod system, which is designed to keep teams closer to home for the first and second rounds.

Finding practical solutions

Some academics, observing the rising emissions trend, have called for radical solutions like the end of commercialized sports or drastically limiting who can attend sporting events, with a focus on fans from the region.

These solutions are frankly not practical, in my view, nor do they align with other positive developments. The growing popularity of women’s sports shows the challenge in limiting sports events – more games expands participation but adds to the industry’s overall footprint.

Further compounding the challenges of reducing environmental impact is the amount of fan travel, which is outside the direct control of the sports organization or event organizers.

Many fans will follow their teams long distances, especially for mega-events like the World Cup or the NCAA tournament. During the men’s World Cup in Russia in 2018, more than 840,000 fans traveled from other countries. The top countries by number of fans, after Russia, were China, the U.S., Mexico and Argentina.

There is an argument that distributed sporting events like March Madness or the World Cup can be better in some ways for local environments because they don’t overwhelm a single city. However, merely spreading the impact does not necessarily reduce it, particularly when considering the effects on climate change.

How fans can cut their environmental footprint

Sport organizations and event planners can take steps to be more sustainable and also encourage more sustainable choices among fans. Fans can reduce their environmental impact in a variety of ways. For example:
- Avoid taking airplanes for shorter distances, such as between FIFA venues in Philadelphia, New York and Boston, and carpool or take Amtrak instead. Planes can be more efficient for long distances, but air travel is still a major contributing factor to emissions.
- While in a host city, use mass transit or rent electric vehicles or bicycles for local travel.
- Consider sustainable accommodations, such as short-term rentals that might have a smaller environmental footprint than a hotel. Or stay at a certified green hotel that makes an effort to be more efficient in its use of water and energy.
- Engage in sustainable pregame and postgame activities, such as choosing local, sustainable food options, and minimize waste.
- You can also pay to offset carbon emissions for attending different sporting events, much like concertgoers do when they attend musical festivals. While critics question offsets’ true environmental benefit, they do represent people’s growing awareness of their environmental footprint.
Through all these options, it’s clear that sports face a significant challenge in addressing their environmental impacts and encouraging fans to be more sustainable, while simultaneously trying to meet ambitious business and environmental targets.

In my view, a sustainable path forward will require strategic, yet genuine, commitment by the sports industry and its fans, and a willingness to prioritize long-term planetary health alongside economic gains – balancing the sport and sustainability.

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

– ref. 2026 FIFA World Cup expansion will have a big climate footprint, with matches from Mexico to Canada – here’s what fans can do – https://theconversation.com/2026-fifa-world-cup-expansion-will-have-a-big-climate-footprint-with-matches-from-mexico-to-canada-heres-what-fans-can-do-259437
MIL OSI Analysis –
July 15, 2025
MIL-OSI Analysis: 2026 FIFA World Cup expansion will have a big climate footprint, with matches from Mexico to Canada – here’s what fans can do
Source: The Conversation – USA (2) – By Brian P. McCullough, Associate Professor of Sport Management, University of Michigan

Lionel Messi celebrates with fans after Argentina won the FIFA World Cup championship in 2022 in Qatar. Michael Regan-FIFA/FIFA via Getty Images

When the FIFA World Cup hits North America in June 2026, 48 teams and millions of sports fans will be traveling among venues spread across Canada, the United States and Mexico.

It’s a dramatic expansion – 16 more teams will be playing than in recent years, with a jump from 64 to 104 matches. The tournament, whether you call it soccer or football, is projected to bring in over US$10 billion in revenue. But the expansion will also mean a lot more travel and other activities that contribute to climate change.

The environmental impacts of giant sporting events like the World Cup create a complex paradox for an industry grappling with its future in a warming world.

A sustainability conundrum

Sports are undeniably experiencing the effects of climate change. Rising global temperatures are putting athletes’ health at risk during summer heat waves and shortening winter sports seasons. Many of the 2026 World Cup venues often see heat waves in June and early July, when the tournament is scheduled.

There is a divide over how sports should respond.

Some athletes are speaking out for more sustainable choices and have called on lawmakers to take steps to limit climate-warming emissions. At the same time, the sport industry is growing and facing a constant push to increase revenue. The NCAA is also considering expanding its March Madness basketball tournaments from 68 teams currently to as many as 76.

Park Yong-woo of team Al Ain from Abu Dhabi tries to cool off during a Club World Cup match on June 26, 2025, in Washington, D.C., which was in the midst of a heat wave. Some players have raised concerns about likely high temperatures during the 2026 World Cup, with matches scheduled June 11 to July 19.
AP Photo/Julia Demaree Nikhinson

Estimates for the 2026 World Cup show what large tournament expansions can mean for the climate. A report from Scientists for Global Responsibility estimates that the expanded World Cup could generate over 9 million metric tons of carbon dioxide equivalent, nearly double the average of the past four World Cups.

This massive increase – and the increase that would come if the NCAA basketball tournaments also expand – would primarily be driven by air travel as fans and players fly among event cities that are thousands of miles apart.

A lot of money is at stake, but so is the climate

Sports are big business, and adding more matches to events like the World Cup and NCAA tournaments will likely lead to larger media rights contracts and greater gate receipts from more fans attending the events, boosting revenues. These are powerful financial incentives.

In the NCAA’s case, there is another reason to consider a larger tournament: The House v. NCAA settlement opened the door for college athletic departments to share revenue with athletes, which will significantly increase costs for many college programs. More teams would mean more television revenue and, crucially, more revenue to be distributed to member NCAA institutions and their athletic conferences.

When climate promises become greenwashing

The inherent conflict between maximizing profit through growth and minimizing environmental footprint presents a dilemma for sports.

Several sport organizations have promised to reduce their impact on the climate, including signing up for initiatives like the United Nations Sports for Climate Action Framework.

However, as sports tournaments and exhibition games expand, it can become increasingly hard for sports organizations to meet their climate commitments. In some cases, groups making sustainability commitments have been accused of greenwashing, suggesting the goals are more about public relations than making genuine, measurable changes.

For example, FIFA’s early claims that it would hold a “fully carbon-neutral” World Cup in Qatar in 2022 were challenged by a group of European countries that accused soccer’s world governing body of underestimating emissions. The Swiss Fairness Commission, which monitors fairness in advertising, considered the complaints and determined that FIFA’s claims could not be substantiated.

Alessandro Bastoni, of Inter Milan and Italy’s national team, prepares to board a flight from Milan to Rome with his team.
Mattia Ozbot-Inter/Inter via Getty Images

Aviation is often the biggest driver of emissions. A study that colleagues and I conducted on the NCAA men’s basketball tournament found about 80% of its emissions were connected to travel. And that was after the NCAA began using the pod system, which is designed to keep teams closer to home for the first and second rounds.

Finding practical solutions

Some academics, observing the rising emissions trend, have called for radical solutions like the end of commercialized sports or drastically limiting who can attend sporting events, with a focus on fans from the region.

These solutions are frankly not practical, in my view, nor do they align with other positive developments. The growing popularity of women’s sports shows the challenge in limiting sports events – more games expands participation but adds to the industry’s overall footprint.

Further compounding the challenges of reducing environmental impact is the amount of fan travel, which is outside the direct control of the sports organization or event organizers.

Many fans will follow their teams long distances, especially for mega-events like the World Cup or the NCAA tournament. During the men’s World Cup in Russia in 2018, more than 840,000 fans traveled from other countries. The top countries by number of fans, after Russia, were China, the U.S., Mexico and Argentina.

There is an argument that distributed sporting events like March Madness or the World Cup can be better in some ways for local environments because they don’t overwhelm a single city. However, merely spreading the impact does not necessarily reduce it, particularly when considering the effects on climate change.

How fans can cut their environmental footprint

Sport organizations and event planners can take steps to be more sustainable and also encourage more sustainable choices among fans. Fans can reduce their environmental impact in a variety of ways. For example:
- Avoid taking airplanes for shorter distances, such as between FIFA venues in Philadelphia, New York and Boston, and carpool or take Amtrak instead. Planes can be more efficient for long distances, but air travel is still a major contributing factor to emissions.
- While in a host city, use mass transit or rent electric vehicles or bicycles for local travel.
- Consider sustainable accommodations, such as short-term rentals that might have a smaller environmental footprint than a hotel. Or stay at a certified green hotel that makes an effort to be more efficient in its use of water and energy.
- Engage in sustainable pregame and postgame activities, such as choosing local, sustainable food options, and minimize waste.
- You can also pay to offset carbon emissions for attending different sporting events, much like concertgoers do when they attend musical festivals. While critics question offsets’ true environmental benefit, they do represent people’s growing awareness of their environmental footprint.
Through all these options, it’s clear that sports face a significant challenge in addressing their environmental impacts and encouraging fans to be more sustainable, while simultaneously trying to meet ambitious business and environmental targets.

In my view, a sustainable path forward will require strategic, yet genuine, commitment by the sports industry and its fans, and a willingness to prioritize long-term planetary health alongside economic gains – balancing the sport and sustainability.

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

– ref. 2026 FIFA World Cup expansion will have a big climate footprint, with matches from Mexico to Canada – here’s what fans can do – https://theconversation.com/2026-fifa-world-cup-expansion-will-have-a-big-climate-footprint-with-matches-from-mexico-to-canada-heres-what-fans-can-do-259437
MIL OSI Analysis –
July 15, 2025
MIL-OSI United Nations: Data for Climate Action: Expert Forum for Climate Change-Related Statistics

Source: United Nations Economic Commission for Europe

01 September (9:00) – 03 September (12:30) 2025

Palais des Nations, Building E, Room XXIII, Geneva Switzerland

Information note, programme and templates

Session I: Setting the Scene

Session II: Climate Change Adaptation-Related Statistics

Session III: Biennial Transparency Reports

Session IV: Meeting data user needs

Session V: Climate and Health Statistics

MIL OSI United Nations News –

July 15, 2025

Category: Switzerland

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A lot of money is at stake, but so is the climate

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A sustainability conundrum

A lot of money is at stake, but so is the climate

When climate promises become greenwashing

Finding practical solutions

How fans can cut their environmental footprint

A sustainability conundrum

A lot of money is at stake, but so is the climate

When climate promises become greenwashing

Finding practical solutions

How fans can cut their environmental footprint

Information note, programme and templates

Session I: Setting the Scene

Session II: Climate Change Adaptation-Related Statistics

Session III: Biennial Transparency Reports

Session IV: Meeting data user needs

Session V: Climate and Health Statistics