Category: Trade

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for July 2, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on July 2, 2025.

    Parents of kids in daycare are terrified following Melbourne abuse allegations. What can they do?
    Source: The Conversation (Au and NZ) – By Danielle Arlanda Harris, Associate Professor in Criminology and Criminal Justice, Griffith University Parents have been left reeling by news a male Melbourne childcare worker has been charged with 70 counts related to the alleged sexual abuse of young children in his care. The charges include sexual penetration

    We all have kangaroos hopping around our coin purse – and they’ve been on money since 1795
    Source: The Conversation (Au and NZ) – By Adrian Dyer, Associate Professor, Department of Physiology, Monash University The one tonne gold kangaroo coin at the Perth Mint. Shutterstock On the Australian one dollar coin, you will often find the famous representation of a mob of five kangaroos. But when did the kangaroo first appear on

    The Bradbury Group features Palestinian journalist Dr Yousef Aljamal, Middle East report and political panel
    Asia Pacific Report In the new weekly political podcast, The Bradbury Group, last night presenter Martyn Bradbury talked with visiting Palestinian journalist Dr Yousef Aljamal. They assess the current situation in Israel’s genocidal war on Gaza and what New Zealand should be doing. As Bradbury, publisher of The Daily Blog, notes, “Fourth Estate public broadcasting

    New laws to make it harder for large Australian and foreign companies to avoid paying tax
    Source: The Conversation (Au and NZ) – By Kerrie Sadiq, Professor of Taxation, QUT Business School, and ARC Future Fellow, Queensland University of Technology The Conversation, CC BY The beginning of the financial year means for the first time in Australia the public will see previously unreleased tax reports produced by multinational taxpayers. These documents,

    ‘Shit in, shit out’: AI is coming for agriculture, but farmers aren’t convinced
    Source: The Conversation (Au and NZ) – By Tom Lee, Senior Lecturer, School of Design, University of Technology Sydney David Gray / AFP / Getty Images Australian farms are at the forefront of a wave of technological change coming to agriculture. Over the past decade, more than US$200 billion (A$305 billion) has been invested globally

    The National Anti-Corruption Commission turns 2 – has it restored integrity to federal government?
    Source: The Conversation (Au and NZ) – By A J Brown, Professor of Public Policy & Law, Centre for Governance & Public Policy, Griffith University The National Anti-Corruption Commission (NACC) opened its doors two years ago this week amid much fanfare and high expectations. Since then the body has attracted considerable criticism, overshadowing a solid,

    Gum disease, decay, missing teeth: why people with mental illness have poorer oral health
    Source: The Conversation (Au and NZ) – By Bonnie Clough, Senior Lecturer, School of Applied Psychology, Griffith University mihailomilovanovic/Getty Images People with poor mental health face many challenges. One that’s perhaps lesser known is that they’re more likely than the overall population to have poor oral health. Research has shown people with serious mental illness

    Farming within Earth’s limits is still possible – but it will take a Herculean effort
    Source: The Conversation (Au and NZ) – By Michalis Hadjikakou, Senior Lecturer in Environmental Sustainability, School of Life and Environmental Sciences, Faculty of Science, Engineering & Built Environment, Deakin University Patrick Pleul/Getty The way we currently produce and consume food takes a big toll on the environment. Worldwide, farming is responsible for more than 20%

    News laws to make it harder for large Australian and foreign companies to avoid paying tax
    Source: The Conversation (Au and NZ) – By Kerrie Sadiq, Professor of Taxation, QUT Business School, and ARC Future Fellow, Queensland University of Technology The Conversation, CC BY The beginning of the financial year means for the first time in Australia the public will see previously unreleased tax reports produced by multinational taxpayers. These documents,

    What did ancient Rome smell like? Honestly, often pretty rank
    Source: The Conversation (Au and NZ) – By Thomas J. Derrick, Gale Research Fellow in Ancient Glass and Material Culture, Macquarie University minoandriani/Getty Images The roar of the arena crowd, the bustle of the Roman forum, the grand temples, the Roman army in red with glistening shields and armour – when people imagine ancient Rome,

    Memo to Shane Jones: what if NZ needs more regional government, not less?
    Source: The Conversation (Au and NZ) – By Jeffrey McNeill, Honorary Research Associate, School of People, Environment and Planning, Te Kunenga ki Pūrehuroa – Massey University If the headlines are anything to go by, New Zealand’s regional councils are on life support. Regional Development Minister Shane Jones recently wondered whether “there’s going to be a

    Antarctic summer sea ice is at record lows. Here’s how it will harm the planet – and us
    Source: The Conversation (Au and NZ) – By Edward Doddridge, Senior Research Associate in Physical Oceanography, University of Tasmania An icebreaker approaches Denman Glacier in March, when there was 70% less Antarctic sea ice than usual. Pete Harmsen AAD On her first dedicated scientific voyage to Antarctica in March, the Australian icebreaker RSV Nuyina found

    Micronesian Summit in Majuro this week aims to be ‘one step ahead’
    By Giff Johnson, editor, Marshall Islands Journal/RNZ Pacific correspondent in Majuro The Micronesian Islands Forum cranks up with officials meetings this week in Majuro, with the official opening for top leadership from the islands tomorrow morning. Marshall Islands leaders are being joined at this summit by their counterparts from Kiribati, Nauru, Federated States of Micronesia,

    Distressed by all the bad news? Here’s how to stay informed but still look after yourself
    Source: The Conversation (Au and NZ) – By Reza Shabahang, Research Fellow in Human Cybersecurity, Monash University and Academic Researcher in Media Psychology, Flinders University KieferPix/Shutterstock If you’re feeling like the news is particularly bad at the moment, you’re not alone. But many of us can’t look away – and don’t want to. Engaging with

    What are police allowed to do at protests and who keeps them in check?
    Source: The Conversation (Au and NZ) – By Kelly Hine, Senior Lecturer in Criminology, University of the Sunshine Coast Earlier this week, former Greens candidate Hannah Thomas was hospitalised with serious injuries after being arrested at a protest in Sydney. This incident sparked public outcry, raising questions about the limits of police power and what

    Trump demands an end to the war in Gaza – could a ceasefire be close?
    Source: The Conversation (Au and NZ) – By Marika Sosnowski, Postdoctoral research fellow, The University of Melbourne Anas-Mohammed/Shutterstock Hopes are rising that Israel and Hamas could be inching closer to a ceasefire in the 20-month war in Gaza. US President Donald Trump is urging progress, taking to social media to demand: MAKE THE DEAL IN

    A new ‘prac payment’ has just kicked in. But it ignores many uni students
    Source: The Conversation (Au and NZ) – By Kelly Lambert, Associate Professor Nutrition and Dietetics, University of Wollongong Fly View Productions/ Getting Images On Tuesday, some Australian university students got access to a new payment. The Commonwealth Prac Payment is available to eligible teaching, nursing, midwifery and social work students. It will provide A$331.65 a

    ‘I’m going to send letters’: the deadline for Trump’s ‘reciprocal’ trade tariffs is looming
    Source: The Conversation (Au and NZ) – By Peter Draper, Professor, and Executive Director: Institute for International Trade, and Director of the Jean Monnet Centre of Trade and Environment, University of Adelaide Brendan Smialowski/AFP via Getty Images US President Donald Trump’s 90-day pause on implementing so-called “reciprocal” tariffs on some 180 trading partners ends on

    2 polls have Tasmania headed for another hung parliament, but disagree on which party is ahead
    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne Two Tasmanian state polls imply another hung parliament at the July 19 election under Tasmania’s proportional system. In one of these polls, Labor leads the Liberals, while

    Preventive versus pre-emptive strikes.
    Headline: Preventive versus pre-emptive strikes. – 36th Parallel Assessments Photo credit: Reuters. Conceptual clarity is important in any context but especially when it comes to international relations, foreign policy and the initiation of conflict. Recent events in the Middle East have shown once again how clarity in the use of words is often deliberately obfuscated

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: US ramps up trade pressure on multiple fronts as 90-day tariff deadline approaches

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

    Days after U.S. President Donald Trump threatened to halt trade talks and impose tariffs, Canada scrapped its planned digital services tax on Sunday. The White House praised the move, saying talks would resume immediately and declaring that Canada had “caved” to the United States.

    The United States is scrambling to wind up trade talks with a large number of trading partners as the self-imposed deadline of July 9 is approaching. Following Canada’s concession, Trump is continuing his efforts to press multiple trade partners.

    While the EU stood firm on protecting its digital sovereignty and rejected U.S. demands to include digital laws in trade talks, Trump moved on to Japan on Sunday, accusing it of refusing to buy American rice amid a shortage and threatening a formal trade complaint shortly after labeling U.S.-Japan trade “unfair.”

    U-turn on talks  

    Canadian Finance Minister Francois-Philippe Champagne announced Sunday that Canada will rescind its digital services tax as it prepares for a broader trade agreement with the United States.

    The tax, which was designed to take effect on Monday, would impose a 3 percent levy on the revenue of U.S. multinational companies like Amazon, Google and Meta earned from Canadian users.

    “It’s very simple: Canadian Prime Minister (Mark) Carney and Canada caved to President Trump and the United States of America,” White House Press Secretary Karoline Leavitt told reporters on Monday at a briefing.

    Leavitt’s comments followed remarks by National Economic Council Director Kevin Hassett, who said the United States will restart trade negotiations with Canada immediately.

    According to him, the White House is likely to push other countries to abandon their digital services taxes in future trade negotiations, building on Canada’s recent reversal.

    “My expectation is that the digital services taxes around the world will be taken off, and that that will be a key part of the … ongoing trade negotiations that we have,” Hassett was quoted by CNBC as saying.

    Hassett suggested that countries planning to maintain or introduce digital services taxes could face the “wrath” from U.S. Trade Representative Jameson Greer over what he called “unfair trade practices.”

    Ineffective strategy 

    Washington’s pressure tactics didn’t prove effective with the EU, where officials have firmly rejected including digital legislation in trade talks with the United States.

    “Our legislation will not be changed. The Digital Markets Act (DMA) and the Digital Services Act (DSA) are not on the table in the trade negotiations with the U.S.,” European Commission spokesperson Thomas Regnier told a briefing Monday.

    Washington has repeatedly slammed the EU’s digital regulations, including the DMA and DSA, as unfair and called for looser oversight of American tech firms. In February, the White House warned it might retaliate if EU regulators targeted U.S. companies under those rules.

    Regnier emphasized that European Commission President Ursula von der Leyen has made it clear that EU legislation is not up for negotiation, “and this also includes, of course, our digital legislation,” he said.

    “We’re not going to adjust the implementation of our legislation based on the actions of third countries. If we started to do that, then we would have to do it with numerous third countries,” Regnier added.

    Nevertheless, the spokesperson said that the Commission remains committed to reaching a trade deal with the United States by July 9.

    Trump had earlier said the talks were “going nowhere” and threatened a 50 percent tariff on all EU imports starting June 1. After a call with von der Leyen, he agreed to postpone the hike until July 9.

    European Commissioner for Trade and Economic Security Maros Sefcovic said on Monday that he would travel to Washington on Tuesday to try to avoid higher U.S. tariffs and reach a deal “fair for both sides.”

    Currently, the EU faces 50 percent U.S. tariffs on steel, aluminum and 25 percent on automobiles, alongside 10 percent baseline duties on most other exports.

    Next on list 

    In a Truth Social post on Monday afternoon, Trump claimed that the Japanese people and their government were “spoiled” because they wouldn’t buy American rice.

    “To show people how spoiled Countries have become with respect to the United States of America, and I have great respect for Japan, they won’t take our RICE, and yet they have a massive rice shortage,” Trump wrote. “In other words, we’ll just be sending them a letter.”

    Yet rice, like the EU’s digital regulations, is not on the Japanese menu for trade talks with the United States.

    On Tuesday, Japanese Economic Revitalization Minister Ryosei Akazawa, who is also the chief representative in tariff negotiations with the U.S. administration, said that his country will not sacrifice the agricultural sector as part of its tariff talks with the United States, adding that he would continue to negotiate with his U.S. counterparts to protect Japan’s national interests.

    “I have repeatedly stated that agriculture is the foundation of the nation,” he told a press conference.

    Trump’s rice complaint followed another swipe at Tokyo’s trade practices. In an interview aired on Fox News a day earlier, he slammed Japan for importing too few American cars, saying, “They won’t take our cars, and yet we take millions and millions of their cars into the United States. It’s not fair,” he said.

    “I could send one (letter) to Japan: ‘Dear Mr. Japan, here’s the story. You’re going to pay a 25 percent tariff on your cars,’” Trump said during the interview. 

    MIL OSI China News

  • MIL-OSI Submissions: Trade in a mythical fish is threatening real species of rays that are rare and at risk

    Source: The Conversation – USA (2) – By James Marcus Drymon, Associate Extension Professor in Marine Fisheries Ecology, Mississippi State University

    These ‘pez diablo,’ or devil fish, are actually guitarfishes that have been caught, killed, dried and carved into exotic shapes. Bryan Huerta-Beltrán, CC BY-ND

    From the Loch Ness monster to Bigfoot, also known as Sasquatch, to the jackalope of the U.S. West, mythical animals have long captured human imagination.

    Some people are so fascinated with mythical creatures that they create their own, either working from pure fantasy or by modifying real animals. In a newly published study, we show that in countries such as Mexico, people are catching, drying and shaping guitarfishes – members of the rhino ray family, one of the most threatened groups of marine fishes – to create mythical specimens called “pez diablo,” or devil fish.

    Depending on where these curios are sold, they might also be referred to as Jenny Hanivers, garadiávolos or rayas chupacabras. The origin and meaning of the term “Jenny Haniver” is unclear, but the most accepted explanation is “Jeune d’Anvers,” or “young girl from Antwerp” in French.

    We found that pez diablo are made for many reasons, including as curios for the tourist trade and as purported cures for cancer, arthritis and anemia. Some are simply used for hoaxes. Regardless, the pez diablo trade could threaten the survival of guitarfishes.

    Young guitarfishes on display at the New England Aquarium in Boston.

    Fishy talismans

    Skates and rays, including guitarfishes, are flat-bodied fishes related to sharks and are found worldwide. Together, they make up a group known as elasmobranchs, which are characterized by their unique skeletons made of cartilage rather than bone like most other fishes.

    Skates have long been used to craft mythical creatures. The earliest known examples date back to 1558 in Europe, where they were fashioned to resemble dragons. These objects were thought to offer pathways to the divine or medicinal cures.

    In the mid-20th century, dried guitarfishes emerged as a new generation of mythical creatures. This may be because their unique shape can be fashioned into more humanlike forms. Their long nostrils, which are positioned just above their mouths, can resemble eyes.

    The ‘eyes’ of these dried guitarfishes are actually nostrils on top of the fishes’ long, pointed snouts.
    Bryan Huerta-Beltrán, CC BY-ND

    The first known case of a modified guitarfish was described in 1933. Since then, specimens have made their way into museums, and dozens of North American newspapers have published stories featuring modified guitarfishes.

    A real and endangered fish

    Guitarfishes are one of the most threatened vertebrate groups on the planet: Without careful management, they are at risk of global extinction. As many as two-thirds of all guitarfishes are classified as threatened on the IUCN Red List, a global inventory that assesses extinction risks to wild species.

    Guitarfishes are found in warm temperate and tropical oceans around the world. Fishers target them as an inexpensive source of protein. Guitarfishes may also be caught accidentally or collected live for the aquarium trade.

    Ultimately, however, these species are worth more as pez diablo than for other uses. For example, an entire fresh guitarfish in Mexico is worth approximately US$2, whereas guitarfish that have been killed, dried and carved into pez diablo can be worth anywhere from $50–$500 on eBay and other e-commerce sites.

    Curbing the pez diablo trade

    Internationally, the guitarfish trade is regulated by the Convention on International Trade in Endangered Species of Wild Fauna and Flora, an international agreement between governments. This agreement requires member countries to manage guitarfish trade across international borders.

    Most countries where guitarfishes occur, however, do not have national regulations to protect these species. As a result, people who create or sell pez diablo are likely unaware that these fishes are threatened.

    There are as many as 37 species of guitarfish, some of which are at higher risk of extinction than others. Yet to the untrained eye, it can be hard to distinguish one guitarfish species from another. It’s especially hard to identify dried and mutilated guitarfishes that have been processed into pez diablo and look very different from their natural form.

    An intact guitarfish, left, and a carved, dried version.
    Bryan Huerta-Beltrán, CC BY-ND

    This is a common challenge for agencies that monitor trade in animal products. The global wildlife trade is an enormous market, involving billions of animals moving through both legal and illegal channels. Many wildlife products are heavily altered, which makes it hard to identify the species and determine where the product came from.

    Another source of confusion is that many people in Mexico also refer to an invasive freshwater fish that has overrun lakes and rivers across the nation as pez diablo. This “other” pez diablo is actually a suckermouth catfish and is not at all related to any of the threatened guitarfishes. Local education efforts need to distinguish clearly between these two species, since the desired outcome is to protect guitarfish while removing the invasive catfish.

    A dried and modified guitarfish, left, compared with an invasive suckermouth catfish.
    Bryan Huerta-Beltrán, CC BY-ND

    Guitarfish CSI

    Fortunately, advances in wildlife forensics offer a way to distinguish between species. Molecular techniques have been used to identify many illegally traded species, including guitarfishes. By taking a small skin sample, scientists can use DNA to identify the species of individual pez diablo. This method can help protect endangered species by helping to ensure that laws against wildlife trafficking are followed.

    Refining this kind of molecular tool is the most promising way to improve traceability in the trade of guitarfishes. By documenting where and how pez diablo are traded, scientists and conservationists can help clarify the threats to these species. The pez diablo is an imaginary creature, but it is doing real harm to threatened guitarfishes in the world’s warm oceans.

    Bryan Huerta-Beltran receives funding from Save Our Seas Foundation.

    Nicole Phillips is affiliated with the Sawfish Conservation Society and receives funding from the Save Our Seas Foundation.

    James Marcus Drymon and Peter Kyne do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Trade in a mythical fish is threatening real species of rays that are rare and at risk – https://theconversation.com/trade-in-a-mythical-fish-is-threatening-real-species-of-rays-that-are-rare-and-at-risk-247433

    MIL OSI

  • MIL-OSI Submissions: Trade in a mythical fish is threatening real species of rays that are rare and at risk

    Source: The Conversation – USA (2) – By James Marcus Drymon, Associate Extension Professor in Marine Fisheries Ecology, Mississippi State University

    These ‘pez diablo,’ or devil fish, are actually guitarfishes that have been caught, killed, dried and carved into exotic shapes. Bryan Huerta-Beltrán, CC BY-ND

    From the Loch Ness monster to Bigfoot, also known as Sasquatch, to the jackalope of the U.S. West, mythical animals have long captured human imagination.

    Some people are so fascinated with mythical creatures that they create their own, either working from pure fantasy or by modifying real animals. In a newly published study, we show that in countries such as Mexico, people are catching, drying and shaping guitarfishes – members of the rhino ray family, one of the most threatened groups of marine fishes – to create mythical specimens called “pez diablo,” or devil fish.

    Depending on where these curios are sold, they might also be referred to as Jenny Hanivers, garadiávolos or rayas chupacabras. The origin and meaning of the term “Jenny Haniver” is unclear, but the most accepted explanation is “Jeune d’Anvers,” or “young girl from Antwerp” in French.

    We found that pez diablo are made for many reasons, including as curios for the tourist trade and as purported cures for cancer, arthritis and anemia. Some are simply used for hoaxes. Regardless, the pez diablo trade could threaten the survival of guitarfishes.

    Young guitarfishes on display at the New England Aquarium in Boston.

    Fishy talismans

    Skates and rays, including guitarfishes, are flat-bodied fishes related to sharks and are found worldwide. Together, they make up a group known as elasmobranchs, which are characterized by their unique skeletons made of cartilage rather than bone like most other fishes.

    Skates have long been used to craft mythical creatures. The earliest known examples date back to 1558 in Europe, where they were fashioned to resemble dragons. These objects were thought to offer pathways to the divine or medicinal cures.

    In the mid-20th century, dried guitarfishes emerged as a new generation of mythical creatures. This may be because their unique shape can be fashioned into more humanlike forms. Their long nostrils, which are positioned just above their mouths, can resemble eyes.

    The ‘eyes’ of these dried guitarfishes are actually nostrils on top of the fishes’ long, pointed snouts.
    Bryan Huerta-Beltrán, CC BY-ND

    The first known case of a modified guitarfish was described in 1933. Since then, specimens have made their way into museums, and dozens of North American newspapers have published stories featuring modified guitarfishes.

    A real and endangered fish

    Guitarfishes are one of the most threatened vertebrate groups on the planet: Without careful management, they are at risk of global extinction. As many as two-thirds of all guitarfishes are classified as threatened on the IUCN Red List, a global inventory that assesses extinction risks to wild species.

    Guitarfishes are found in warm temperate and tropical oceans around the world. Fishers target them as an inexpensive source of protein. Guitarfishes may also be caught accidentally or collected live for the aquarium trade.

    Ultimately, however, these species are worth more as pez diablo than for other uses. For example, an entire fresh guitarfish in Mexico is worth approximately US$2, whereas guitarfish that have been killed, dried and carved into pez diablo can be worth anywhere from $50–$500 on eBay and other e-commerce sites.

    Curbing the pez diablo trade

    Internationally, the guitarfish trade is regulated by the Convention on International Trade in Endangered Species of Wild Fauna and Flora, an international agreement between governments. This agreement requires member countries to manage guitarfish trade across international borders.

    Most countries where guitarfishes occur, however, do not have national regulations to protect these species. As a result, people who create or sell pez diablo are likely unaware that these fishes are threatened.

    There are as many as 37 species of guitarfish, some of which are at higher risk of extinction than others. Yet to the untrained eye, it can be hard to distinguish one guitarfish species from another. It’s especially hard to identify dried and mutilated guitarfishes that have been processed into pez diablo and look very different from their natural form.

    An intact guitarfish, left, and a carved, dried version.
    Bryan Huerta-Beltrán, CC BY-ND

    This is a common challenge for agencies that monitor trade in animal products. The global wildlife trade is an enormous market, involving billions of animals moving through both legal and illegal channels. Many wildlife products are heavily altered, which makes it hard to identify the species and determine where the product came from.

    Another source of confusion is that many people in Mexico also refer to an invasive freshwater fish that has overrun lakes and rivers across the nation as pez diablo. This “other” pez diablo is actually a suckermouth catfish and is not at all related to any of the threatened guitarfishes. Local education efforts need to distinguish clearly between these two species, since the desired outcome is to protect guitarfish while removing the invasive catfish.

    A dried and modified guitarfish, left, compared with an invasive suckermouth catfish.
    Bryan Huerta-Beltrán, CC BY-ND

    Guitarfish CSI

    Fortunately, advances in wildlife forensics offer a way to distinguish between species. Molecular techniques have been used to identify many illegally traded species, including guitarfishes. By taking a small skin sample, scientists can use DNA to identify the species of individual pez diablo. This method can help protect endangered species by helping to ensure that laws against wildlife trafficking are followed.

    Refining this kind of molecular tool is the most promising way to improve traceability in the trade of guitarfishes. By documenting where and how pez diablo are traded, scientists and conservationists can help clarify the threats to these species. The pez diablo is an imaginary creature, but it is doing real harm to threatened guitarfishes in the world’s warm oceans.

    Bryan Huerta-Beltran receives funding from Save Our Seas Foundation.

    Nicole Phillips is affiliated with the Sawfish Conservation Society and receives funding from the Save Our Seas Foundation.

    James Marcus Drymon and Peter Kyne do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Trade in a mythical fish is threatening real species of rays that are rare and at risk – https://theconversation.com/trade-in-a-mythical-fish-is-threatening-real-species-of-rays-that-are-rare-and-at-risk-247433

    MIL OSI

  • MIL-Evening Report: We all have kangaroos hopping around our coin purse – and they’ve been on money since 1795

    Source: The Conversation (Au and NZ) – By Adrian Dyer, Associate Professor, Department of Physiology, Monash University

    The one tonne gold kangaroo coin at the Perth Mint. Shutterstock

    On the Australian one dollar coin, you will often find the famous representation of a mob of five kangaroos. But when did the kangaroo first appear on money?

    My new research, published in the Australian Coin Review, tracks through history the iconic representation of kangaroos on numismatic items: coins, tokens, paper notes and other objects that can act as money to enable the effective trade of goods.

    It turns out that the first representation of a kangaroo on money was not in Australia, but actually in England in 1795.

    ‘The kanguroo’

    In 1795, Thomas Hall of City Road near Finsbury Square in London – a well known taxidermist and exhibitor of exotic animals – issued half penny tokens depicting three exotic animals: a kangaroo (spelt “The Kanguroo”), an armadillo, and a rhinoceros.

    A tradeable token issued in London 1795 shows the first representation of a kangaroo (spelt ‘The Kanguroo’) on a numismatic item.
    Author provided: photo AG Dyer, CC BY

    Trade tokens were used in the late 18th century in England (and also much of the 19th century in Australia and New Zealand) due to insufficient supplies of official coinage for small-scale transactions.

    The depiction on Hall’s 1795 token was inspired by the painting The Kongouro from New Holland (1772) by the English painter George Stubbs.

    The oil painting by George Stubbs in 1772 titled The Kongouro from New Holland.
    Wikimedia Commons

    Stubbs had been commissioned by the famous naturalist Sir Joseph Banks, based on an inflated skin of a kangaroo Banks had collected from the east coast of Australia during 1770. His sister, Sarah Sophia Banks, was an important collector of English tokens and ultimately bequeathed her entire collection of tokens to the British Museum.

    The representation of a kangaroo with its head turned backwards looking over the shoulder on the Stubbs painting and the 1795 token is anatomically possible, but a less frequent depiction compared to a forward facing kangaroo common on modern coins.

    Nevertheless, one kangaroo on our current dollar appears to hold a similar pose.

    The classic mob of kangaroo design by Stuart Devlin, and the new obverse effigy of King Charles III by Daniel Thorne on the new Australian one dollar coins.
    Author provided: photo AG Dyer, CC BY

    The Banks link

    A McIntosh and Degraves Saw Mills, Tasmania, shilling token dated 1823 is one of Australia’s first and rarest numismatic items. It also represents a kangaroo looking over its shoulder.

    An example of this rare token housed at Museums Victoria collection carries an attribution which says it was possibly minted at Boulton Mint in Soho, England.

    A 1 Shilling 1823 silver token issued by Macintosh & Degraves Sawmills, Hobart, Tasmania, Australia.
    Copyright Museums Victoria, CC BY

    If this is the case, the design may also be linked to the animal in the Stubbs painting.

    Mathew Boulton from the Boulton Mint in England was a friend of Sir Banks, and the two men wrote to each other about the collection of Sarah Sophia Banks. The design element for representing kangaroos could have been passed on by Mathew Boulton to his son who ran the mint by the time the dated 1823 silver kangaroo token was made.

    Thus the very first depictions of kangaroos on early money share links to Sir Banks and some of his contemporaries.

    Tracing the evolution

    A variety of depictions of kangaroos on trade tokens were employed during the 19th century in Australia.

    Some, like the 1855 copper tokens from the John Allen General Stores in Jamberoo, New South Wales, are very rare and known by only a few surviving examples .

    John Allen General Stores (Jamberoo, NSW) token showing the Arms of New South Wales supported by a poorly formed kangaroo and emu.
    Museums Victoria, CC BY

    When I surveyed literature of known Australian tokens during the 19th century about 23% depicted a kangaroo – frequently as an incorporation into a coat of arms.

    After federation, a distinctive official Australian currency emerged. This often used kangaroos as part of a coat of arms design.

    The first sixpence coins were issued in 1911 and carried a common design of a forward facing kangaroo and emu as part of the coat of arms through to 1963.

    On florin coins, which were worth two shillings or 24 pennies in the pre-decimal money system that lasted up until 1966, the style was modernised from 1938 with a newer representation of a kangaroo and emu.

    On pennies and half pennies from 1939 a forward facing kangaroo was the main reverse design and lasted until 1964 when pre-decimal currency began to be phased out.

    New decimal currency was introduced on February 14 1966. Kangaroos appeared on the dollar note.

    The durability of the dollar note was short, however, meaning individual paper notes had to be frequently withdrawn from circulation and replaced. Production of one dollar notes was stopped in 1984.

    The replacement dollar coins featuring the mob of kangaroos proved very durable, and 1984 examples of the coin can still be found in change today.

    On our current decimal coins, that have been in use since the 1960s, the 50 cent piece shows another representation of a kangaroo and emu on the coat of arms that can be found in change over 50 years after their first release.

    The kangaroo and emu on the coat of arms has been on our 50 cent coins for over 50 years.
    Wojciech Boruch/Shutterstock

    Many decimal coins now have special issues featuring kangaroos, like the 2024 Paris Olympic Games two dollar coin series with fun kangaroos performing athletic tricks with icons of the Paris landscape in the backgound.

    The kangaroo has truly become an iconic symbol of Australian numismatics, and now famous coins like the one tonne gold kangaroo coin at the Perth Mint are major tourist attractions showing how far we have come since the first representation in 1795.

    Adrian Dyer receives funding from the Australian Research Council and the Alexander von Humboldt Foundation. He is affiliated with the Australian Numismatic Society.

    ref. We all have kangaroos hopping around our coin purse – and they’ve been on money since 1795 – https://theconversation.com/we-all-have-kangaroos-hopping-around-our-coin-purse-and-theyve-been-on-money-since-1795-258814

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Sullivan Shapes “One Big Beautiful Bill” to Unleash Alaska’s Economy, Create Good-Paying Jobs, Provide Historic Tax Cuts for Working Families, and Strengthen Health Care

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    07.01.25

    WASHINGTON—U.S. Senator Dan Sullivan (R-Alaska) today voted to pass the One Big Beautiful Bill Act of 2025. This transformative legislation includes numerous provisions to unleash Alaska’s extraordinary resource potential, deliver tax relief for hard-working families and small businesses, make the largest investment for the U.S. Coast Guard in history, secure the southern border and halt the flow of deadly fentanyl, continue the build-up of Alaska-based military, upgrade Alaska’s aviation safety, strengthen Alaska’s health care and nutrition programs, protect Alaska’s most vulnerable communities, and achieve historic savings for future generations.

    “This comprehensive legislation is the product of months of relentless, focused work on behalf of Alaskans—and it delivers significant wins for our state. I think it is safe to say, no state fared better from this bill,” said Sen. Sullivan. “From Day One of these negotiations, which have been going on for months, I fought to ensure that Alaska wasn’t just included, but prioritized. An overriding focus of mine in shaping this legislation was ensuring it helps to unleash Alaska’s private sector economy for the benefit of our hard-working families and more job creation. The One Big Beautiful Bill works in concert with President Trump’s Day One, Alaska-specific executive order to unleash Alaska’s vast natural resource potential, restoring and establishing in law the first Trump administration’s mandate to unlock ANWR, NPR-A, and Cook Inlet for responsible resource development. These provisions are focused on creating good-paying jobs, generating billions of dollars in new revenues for the state, and putting Alaskans back in the driver’s seat of our economic future. Importantly, the historic resource development provisions cement regular lease sales into law for Alaska to guard against attempts by future Democratic administrations and Senate leaders to use regulatory powers to lock up our state and shut down our economy, as was done with President Biden’s 70 executive orders and actions targeting Alaska, what I called the ‘Last Frontier Lock-Up.’

    “A second overriding focus of mine in shaping this legislation was ensuring it benefits Alaska’s working families. On that front, this bill is a home-run. We prevented the largest tax hike in history—more than $4 trillion—and locked in permanent, lower tax rates, an enhanced Child Tax Credit for millions of families, an increased standard deduction used by over 90 percent of taxpayers, a small business deduction that drives job creation and local economic growth, and an enhanced Child and Dependent Care Tax Credit—which incorporates language from a standalone bill I cosponsored, in addition to other deductions that will help Alaskans keep more of what they earn.

    “As Chairman of the Commerce Subcommittee overseeing the U.S. Coast Guard, I also fought to secure the largest investment in Coast Guard history—nearly $25 billion, which includes funding for 16 new icebreakers and $300 million to homeport the Coast Guard icebreaker Storis, in Juneau. And, with the Golden Dome initiative, we’re building the next generation of homeland missile defense—new interceptors, sensors, and radar systems to protect the entire country, with the cornerstone of this vital system continuing to reside in our great state. We’re also working to redevelop existing Arctic infrastructure, like the very strategically located Adak Naval Base in the Aleutians.

    “With this bill, we are also securing our southern border with the most robust enforcement package in a generation—$46 billion for the wall, billions more for Border Patrol and law enforcement, and resources to crack down on the flow of deadly fentanyl into Alaska.

    “Finally, contrary to the fear mongering from critics and naysayers for months on this legislation, I was able to secure significant funding—I am confident it will exceed about $200 million per year for five years—to modernize Alaska’s health system, stabilize our rural providers, improve patient outcomes, keep standalone hospitals open, and empower state leaders to maintain coverage for vulnerable Alaskans. The bill also includes commonsense work requirements for these benefits, ensuring able-bodied Americans utilizing these programs are contributing to our economy, and shoring up the social safety net program for those it was intended to support–struggling single parents, children and individuals with disabilities or mental health challenges. At the same time, Alaska faces challenges that no other state deals with, which is why we secured flexibility for our state government to implement the new Medicaid and SNAP work requirements, giving the state breathing room to fix program challenges without hurting Alaskans who rely on these benefits.

    “From resource development to tax relief for small businesses and middle class families, to national defense, especially our Coast Guard, to securing our border, to strengthening our health care, this legislation reflects years of determined advocacy for Alaska. The final result is a transformative package full of historic wins for Alaska that will positively shape the future of our state for decades to come.”

    1. Growing Alaska’s Economy and Good-Paying Jobs Through Historic Legislation to Unleash Alaska’s Extraordinary Natural Resources

    Senator Sullivan fought to ensure this legislation unleashes Alaska’s natural resource potential, with provisions mandating at least four new area-wide lease sales in the ANWR Coastal Plain over the next decade, directing the Secretary of the Interior to expeditiously resume at least five lease sales in the NPR-A, and mandating a minimum of six lease sales over 10 years in Cook Inlet. The bill reopens areas designated as available for oil and gas leasing during the first Trump administration, and directs more revenues from the NPR-A, ANWR, and Cook Inlet to the State of Alaska, increasing the state’s percentage of the share to 70 percent for future leases. The legislation restores the leasing rules implemented during the first Trump administration—key to unlocking federal revenues from resource development in both ANWR and the NPR-A. The bill streamlines environmental reviews under NEPA by allowing project sponsors to opt into expedited timelines through a fee-based system—cutting review periods in half. The bill also creates a new Energy Dominance Financing program at the Department of Energy that has the potential to accelerate the momentum of the Alaska LNG project.

    Finally, the bill requires increased timber harvests and long-term contracts in national forests and on public lands, including in the Tongass National Forest.

    The One Big Beautiful Bill Act of 2025:

    • Requires BLM to hold at least 4 additional area-wide ANWR lease sales in the Coastal Plain over the next 10 years, with revenues divided 70 percent for the State of Alaska and 30 percent for the federal government starting in 2034—up from 50 percent;
    • Requires the Secretary of the Interior to expeditiously restore and resume lease sales under the NPR–A oil and gas program as directed by federal law—5 lease sales within 10 years of enactment under terms, conditions, stipulations, and areas described in the first Trump administration’s 2020 NPR-A Integrated Activity Plan and Final Environmental Impact Statement and Record of Decision—and directs that the State of Alaska receive 70 percent of revenues generated from development activity on future leases starting in 2034–up from 50 percent;
    • Requires a minimum of six lease sales over 10 years in Cook Inlet, with at least 1 million acres per sale and with revenues divided 70 percent for the State of Alaska and 30 percent for the federal government starting in 2034—up from 27 percent;
    • Reverses the Biden-era royalty hike by reinstating a lower 12.5-16.67 percent on offshore and onshore federal oil and gas leases;
    • Restores commonsense leasing rules that we saw under the first Trump administration that are a prerequisite to generating federal revenues from production in both the NPR-A and in ANWR—more lands, more leasing on a more prescriptive timeline;
    • Streamlines the NEPA environmental review process by allowing project sponsors to opt in for faster timelines through a fee-based system, halving review periods;
    • Includes a $5 billion increase for critical minerals supply chains, opening new opportunities for Alaska’s mining industry;
    • Requires increased timber harvests and long-term contracts in national forests and public lands, including in the Tongass National Forest;
    • Creates a new Energy Dominance Financing program within the Department of Energy to support enhancement and development of reliable energy infrastructure, providing another vehicle for the Alaska LNG project to accelerate development of the gasline;
    • Places a 10-year moratorium on the methane tax; and
    • Provides $1 billion for the Defense Production Act to conduct critical mineral mining operations, including in Alaska.

    “This energy package is a huge victory for Alaska’s jobs and economy, and for America’s energy future,” Sen. Sullivan said. “It’s time to unleash Alaska’s extraordinary resource potential: This bill mandates lease sales—1.6 million acres in ANWR, 20 million acres in NPR-A, and millions of acres in Cook Inlet—so we can tap into the state’s vast resources and create good-paying jobs for thousands of Alaskans. Importantly, we were able to secure a strong 70-30 split for ANWR, Cook Inlet, and future NPRA-leases, which will deliver untold new revenues to the State of Alaska.

    “Combined with President Trump’s Executive Order, ‘Unleashing Alaska’s Extraordinary Resource Potential,’ this is a huge opportunity to jump start natural resource development and create new jobs in Alaska. These Alaska-driven provisions will lower energy costs for American families, create good-paying jobs for Alaskans, and generate billions in new federal revenues to realize our energy potential and put Alaskans back in the driver’s seat of our state’s economy.”

    1. Delivering Tax Relief for Hard-Working Families and Small Businesses

    In 2017, Sen. Sullivan voted for the Tax Cuts and Jobs Act, which included across-the-board tax cuts for small businesses and middle class families, and a doubling of the child tax credit to support working families and small businesses, and spur economic growth. Without Congress’ action, those tax cuts and tax credit increases were due to expire this year, which would amount to a $4.5 trillion tax hike on all Americans. It’s also important to note, contrary to what some critics of the legislation have said, under the One Big Beautiful Bill Act of 2025, millionaires and billionaires will be paying the exact same marginal tax rates as they do currently. There is no tax cut for them.

    The One Big Beautiful Bill Act of 2025:

    • Avoids a massive $4.5 trillion tax increase on Americans by extending the 2017 tax cuts;
    • Institutes a permanent $2,200 child tax credit and tax relief amounting to an estimated annual take-home pay increase of $7,600-$10,900 for a family of four;
    • Expands tax credits to make child care more affordable for the thousands of working families in Alaska that are in need of quality, affordable child care:
      • Specifically, this bill enhances the Child and Dependent Care Tax Credit, the only tax credit that specifically helps working parents offset the cost of child care. This provision builds on stand-alone legislation that Sen. Sullivan cosponsored;
      • Improves the Employer-Provided Child Care Credit which supports businesses that want to help locate or provide child care for employees;
      • Expands the Dependent Care Assistance Plan which creates flexible spending accounts that allow working parents to set aside pre-tax dollars to pay for child care expenses;
    • Eliminates taxes on tips and overtime for millions of workers, and taxes on auto loan interest for new American-made vehicles;
    • Expands tax relief for small businesses, which constitute 99.1 percent of businesses in Alaska, benefiting the backbone of Alaska’s economy; and
    • Makes permanent the opportunity zone, low-income housing, and new markets tax credits—key incentives for economic development and affordable housing, and adds greater emphasis on economically disadvantaged and rural areas.

    “I have always fought to ensure hard-working Alaskans are able to keep more of their paycheck, and our small businesses are able to grow and hire more workers,” said Sen. Sullivan. “With this legislation, we are preserving the historic tax relief delivered for Alaskans in the 2017 Tax Cuts and Jobs Act and providing new relief for our workers and small businesses. Specifically, this bill prevents an average $2,380 tax hike on every Alaskan and a 25 percent tax increase on over 58,000 of Alaska’s small businesses. For Alaska’s working families, the bill permanently boosts the per-child tax credit to $2,200, preserves the doubling of the standard deduction we secured in 2017, and expands tax credits for paid family leave and child care—which I cosponsored in stand-alone legislation. The bill also eliminates taxes on tips, benefiting roughly one-in-ten Alaskans who work in our service and leisure industries. In sum, this bill will deliver a take-home pay increase of up to $10,900 for a family of four.

    “The historic tax relief we are delivering in this bill, coupled with the legislation’s unprecedented provisions to unleash Alaska natural resources—working in concert with President Trump’s Day One, Alaska-specific executive order—bring together all of the elements needed to achieve strong growth in Alaska’s private sector economy. Importantly, that will mean more good-paying jobs for more of Alaska’s families.”

    1. Making the Largest Investment in U.S. Coast Guard History

    As Chairman of the Senate Commerce Subcommittee on the Coast Guard, Sen. Sullivan has consistently championed robust investments in our Coast Guard. Sen. Sullivan’s strong advocacy in the negotiations of the One Big Beautiful Bill of Act 2025 resulted in nearly $25 billion for fiscal year 2026 to the U.S. Coast Guard, including:

    • 16 new icebreakers—three Polar Security Cutters (heavy icebreakers), three Arctic Security Cutters (medium polar icebreakers), and 10 light and medium icebreaking cutters; 
    • 22 new cutters—nine Offshore Patrol Cutters, 10 Fast Response Cutters, and three Waterways Commerce Cutters;
    • More than 40 new helicopters, six new C-130J aircraft, three new river cutters, and new maritime surveillance equipment (Many of these new Coast Guard aviation and ship assets will be coming to Alaska);
    • $300 million for the homeporting of the Juneau icebreaker, the Storis; and
    • $4.379 billion to repair docks, hangars, and shore facilities and replace aging infrastructure, funds that will help address the Coast Guard’s nationwide infrastructure backlog, as found in communities like Sitka, Seward, Kodiak and St. Paul.

    “This historic investment of nearly $25 billion for the U.S. Coast Guard—the largest investment in Coast Guard history—is a game-changer for the men and women who protect our nation’s oceans and maritime communities, especially in Alaska,” Sen. Sullivan said. “With funding for 17 new icebreakers, 21 cutters, dozens of aircraft, and billions to modernize docks and shore facilities–particularly in Alaska, we’re strengthening America’s maritime presence in the Arctic and along our vast coastline. I’ve been working for years to get an icebreaker homeported in Alaska. This is the next critical step: $300 million to support icebreaker homeporting in Juneau—cementing Alaska’s role as the nation’s Arctic operations hub. This investment will create good-paying jobs throughout Southeast Alaska, bolster our national security, and ensure our Coast Guard has the tools it needs to protect our waters and our communities for decades to come.”

    1. Securing the Border and Fighting Fentanyl

    Senator Sullivan has long advocated for stronger policies to secure the nation’s southern border, highlighting the negative impacts of President Biden’s four years of open border policies on all states, including those that are thousands of miles away, like Alaska. For two years in a row, Alaska experienced the largest annual increase in the rate of drug overdose deaths in the country, driven in large part by the flow of fentanyl across the porous border. In recognition of the havoc this crisis has wrought on Alaska’s communities, the Senator last year spearheaded the launch of a statewide “One Pill Can Kill” initiative to educate Alaskans about the dangers of the drug and raise awareness about the resources available for treatment, prevention and reporting criminal activity.

    This legislation provides billions of dollars for our border security, funding and personnel to the immigration court system, materials and manpower to build the southern border wall, funding for Border Patrol and fleet vehicles, enhanced and upgraded Border Patrol technology, and additional law enforcement funding, including for DHS, DOJ, ICE, Secret Service, and federal courts.

    The One Big Beautiful Bill Act of 2025 provides:

    • $46 billion for a southern border wall, $8 billion for Border Patrol and fleet vehicles, $6 billion for border patrol technology;
    • $47.8 billion in additional law enforcement funding, including for DHS, DOJ, ICE, and Secret Service, and federal courts and detention facilities; and
    • $1.25 billion in funding for the immigration court system.

    “This Homeland Security package is a critical step toward securing our borders and stopping the flow of deadly fentanyl into our country, a crisis that is even impacting Alaska,” Sen. Sullivan said. “Alaska’s communities, from our biggest cities to rural villages, have dealt with the deadly consequences of a porous southern border. For years, fentanyl poured into our state, surging overdose deaths by more than 40% between 2022 and 2023, and taking the lives of far too many young people. Thankfully, since President Trump came into office, illegal border crossings have dropped by 99%. These provisions will continue this enforcement of our border and stop this scourge of illegal aliens, drug cartels, and fentanyl from devastating communities across the country.”

    1. Building Up Our Alaska-based Military

    Taking care of our troops and rebuilding our military guided by a policy of “Peace Through Strength” have been top priorities of Senator Sullivan since he joined the Senate Armed Services Committee. The strong military provisions in this bill include several major benefits for Alaska.

    The bill allocates $9 billion to improve the quality of life for service members—enhancing housing, child care, and health care services at Alaska’s many military bases—building on the historic 14.5 percent military pay raise for junior enlisted warfighters that Senator Sullivan helped secure in last year’s National Defense Authorization Act. It also provides $115 million to support the exploration and development of existing Arctic infrastructure, like the critical Adak Naval Air Station in Alaska’s Aleutian Islands and invests $9 billion in air superiority efforts that will help sustain aircraft and operations at Eielson Air Force Base and Joint Base Elmendorf-Richardson (JBER).

    The bill also invests heavily in missile defense systems—with $1.975 billion that could enhance radar sites like the Long Range Discrimination Radar at Clear Space Force Station, the COBRA DANE radar on Shemya, and other installations across the state. Alaska may also benefit from $800 million for next-generation interceptors at Fort Greely, and $500 million for national security space launch infrastructure that could include the Kodiak Pacific Spaceport. These investments are part of President Trump’s $25 billion “Golden Dome for America” initiative, which accelerates the development of a layered missile defense system to protect the homeland—cementing Alaska’s position at the forefront of national security. Senator Sullivan’s GOLDEN DOME Act would further add to the money appropriated by the One Big, Beautiful Bill Act to protect Alaska and the nation.

    Additionally, Alaska stands to gain from the $12 billion Pacific Deterrence Initiative, which includes expanded military exercises involving Alaska Command, and from the $29 billion shipbuilding provision, which will likely strengthen U.S. Navy maritime presence to help safeguard Alaska’s waters.

    The One Big Beautiful Bill Act of 2025 includes:

    • A $25 billion down payment on President Trump’s “Golden Dome for America” initiative to build a layered missile defense system, positioning Alaska as the central pillar;
      • $1.975 billion for improved missile defense radars, potentially benefiting LRDR at Clear Space Force Station, COBRA DANE on Shemya Island, and other Alaska radar sites;
      • $800 million for next-generation interceptors going to Fort Greely;
      • $500 million for space launch infrastructure, which could include the Kodiak Pacific Spaceport;
    • $115 million for the exploration and development of existing Arctic infrastructure, like the shuttered Adak Naval Air Station in Alaska’s Aleutian Islands;
    • $9 billion to improve military quality of life—including housing, childcare, and healthcare at Alaska military bases;
    • $9 billion for air superiority, supporting aircraft operations at Eielson Air Force Base and JBER;
    • $12 billion for the Pacific Deterrence Initiative, expanding military exercises involving Alaska Command; and
    • $29 billion for shipbuilding.

    “Taking care of our troops and achieving ‘Peace Through Strength’ are two of my top priorities. This legislation includes funding for Alaska’s air defense superiority, readiness missions, maritime fleet, as well as an investment in better housing, child care, and health care at bases across Alaska,” said Sen. Sullivan. The escalating missile threats from the Iranian regime—and the rapidly advancing capabilities of Russia and China—make clear why we must build a robust, modernized missile defense system to protect the entire country. That’s exactly what the Golden Dome initiative will do. With President Trump’s leadership, a $25 billion down payment in this legislation, and the Golden Dome Act I introduced with my colleagues to cement this vision in law, we now have all three pillars of effective policy: presidential backing, appropriated funding, and authorizing legislation. This initiative will deploy space-based sensors and next-generation interceptors, and significantly enhance our all-domain awareness. Alaska will remain the cornerstone of America’s missile defense, and I look forward to advancing this historic effort to secure our homeland.”

    1. Upgrading Alaska’s Aviation Safety

    Alaska faces an aviation accident rate 2.35 times higher than the national average, and this legislation delivers major, long-overdue investments to address that challenge head-on. The Alaska-specific aviation safety provisions in this legislation include the installation of Weather Observing Systems and weather camera sites, as well as a $40 million carve out for the FAA  Alaska Aviation Safety Initiative. These provisions are in addition to a federal overhaul of aviation safety announced by President Trump earlier this year that includes the addition of 174 new weather stations specifically for Alaska.

    Included in the One Big Beautiful Bill Act:

    • $2.5 billion for nationwide air traffic control reform and upgrades;
    • $80 million to install not less than 50 Automated Weather Observing Systems (AWOS), not less than 60 Visual Weather Observing Systems (VWOS), not less than 64 weather camera sites, and weather stations; and
    • $40 million to carry out aviation safety projects in the FAA Alaska Aviation Safety Initiative, other than the activities funded from the set aside for weather observation systems.

    “With dozens of communities off the road system and wholly reliant on aviation, and an air traffic control system responsible for the heavily-trafficked aviation routes between North America and Asia, no state is more aware of our country’s aviation safety challenges than Alaska,” said Sen. Sullivan. “This bill includes historic critical upgrades to Alaska’s aviation safety equipment and funding for the FAA Alaska Aviation Safety Initiative. These weather observing systems and camera sites will provide real-time weather data and visual confirmation in remote areas with harsh, rapidly changing conditions, ensuring that Alaska’s pilots have the technology they need to fly as safely as possible.”

    1. Strengthening Alaska’s Health Care

    The One Big Beautiful Bill Act of 2025 does not touch Medicare or Social Security despite false ads running in Alaska saying the contrary. The major Medicaid reform in this bill centers around limitations and reductions of states’ use of provider taxes and state-directed payments to enhance their federal Medicaid payments. Many observers view the use of provider taxes and state-directed payments as a scheme to enhance a state’s share of federal Medicaid dollars. Because Alaska is the only state in the country that doesn’t use provider taxes or state-directed payments, and never has, its Medicaid program and federal funds that the state receives are not impacted by the provider tax reforms in the bill.

    Senator Sullivan has been working for years on legislation to increase Alaska’s Federal Medical Assistance Percentage (FMAP) by 25 percent and Hawaii’s FMAP by 15 percent to better reflect the high cost of living and high cost of health care delivery in both states. This FMAP provision was included in the original budget reconciliation bill with White House and Senate Republican support. The Congressional Budget Office (CBO) estimated that this provision would have generated approximately an additional $180 million in increased annual Medicaid dollars for Alaska.

    However, during the final stages of the budget reconciliation debate, Senate Minority Leader Chuck Schumer and Senate Democrats challenged Sen. Sullivan’s FMAP provision with the intent to strip it out of the budget reconciliation bill during a series of “Byrd baths.” Following this review, the Senate Parliamentarian advised that the provision violated the requirements of the Byrd Rule, resulting in its removal from the bill and costing Alaska potentially millions of dollars in additional annual Medicaid funding.

    In response, Senator Sullivan pivoted and pursued an alternative solution. To address Alaska’s limited health care infrastructure, he successfully negotiated a $25 billion increase for the Rural Health Transformation Fund in the budget reconciliation bill, bringing it to $50 billion.  Senator Sullivan helped shape the formula for this fund to allocate $100 million annually for Alaska for five years. He is confident that additional funding from this fund to Alaska will exceed another $100 million.

    In total, this fund is anticipated to provide over $200 million annually for five years to help expand access and improve health care across Alaska, support providers in remote communities, and reduce the state’s Medicaid application backlog through the Alaska Division of Public Assistance.

    The One Big Beautiful Bill Act of 2025:

    • Creates a $50 billion fund over five years to help states modernize and stabilize rural health care, improve outcomes, and keep standalone hospitals open, of which Alaska will likely receive at least $200 million annually over five years;
    • Institutes a 20-hour per week work requirement for able-bodied individuals to utilize Medicaid if they do not have children 14 years of age or younger (one-third less than the work requirements established by the bipartisan welfare reform in the 1990s under the Clinton administration);
    • Allows states to delay implementation of Medicaid work requirements if showing “good faith” effort to create work requirement processes through 2028;
    • Requires identity verification for ACA special enrollment to stop fraud targeting Alaska Native benefits.

    “For months, I have worked relentlessly on every aspect of this reconciliation bill to make sure Alaska isn’t just included, but prioritizedincluding our health care and nutrition programs,” said Sen. Sullivan. “My team and I also fought hard to secure a $50 billion fund to help states, like Alaska, modernize health systems, stabilize rural providers, improve patient outcomes, and keep standalone hospitals open. Thanks to this provision and commitments I received from the Trump administration, I am confident that Alaska will receive over $200 million a yearfor five yearsto empower our state leaders to  maintain coverage for vulnerable Alaskans and shore up our state’s social safety net.

    “Additionally, the Medicaid provisions in this bill will make this critical safety net program stronger, more accountable, and more sustainable—especially for Alaskans. Our goal is simple: maintain strong safety nets, reduce barriers to care, and grow good-paying jobs across Alaska so more people can thrive and get covered through the private sector.

    “I do support Medicaid work requirements for those who are able, but we made sure to include commonsense, tailored work exemptions, including for Alaska Native people, those who live in places with low employment opportunities, pregnant women, and people with mental health and substance use disorders.

    “Many of Alaska’s hospitals operate on the financial edge while continuing to serve as the backbone of care in remote regions. They are critical to Alaska’s health care system, and this legislation—the result of months of work from me and my team—ensures our hospitals will receive the Alaska-specific plus-ups and protections they need to continue serving our communities.”

    1. Protecting Alaska’s Most Vulnerable Communities

    Senator Sullivan worked to ensure the legislation included provisions directly aimed at protecting Alaska’s most vulnerable communities, especially seniors and those facing financial hardship. For seniors and elder Alaskans, the bill provides a $12,000 tax deduction to reduce Social Security taxes, with estimated average savings of between $9,000–$17,500 for seniors ages 60 and up. The legislation also allows telehealth copays to be covered by insurance outside of high-deductible thresholds—making virtual care more affordable for rural and senior populations, and exempts seniors over 65 from Medicaid and Supplemental Nutrition Assistance Program (SNAP) work requirements.

    The One Big Beautiful Bill Act of 2025 also expands home-and community-based services for individuals with disabilities, repeals harmful Biden-era nursing home staffing mandates, and includes a 2.5 percent Medicare reimbursement increase for FY 2026—known as the “doc fix”—to ensure that seniors utilizing Medicare continue to have access to care.

    The One Big Beautiful Bill Act of 2025:

    • Provides a $12,000 tax deduction for seniors 65 and older to reduce Social Security taxes and help retirees keep more of their income;
    • Maintains the existing 100 percent federal match for Alaska Native and American Indian people accessing Medicaid, and exempts them entirely from Medicaid work requirements;
    • Estimates tax relief savings for seniors age 60 and older between $9,000-$17,500;
    • Exempts seniors over 65 from Medicaid and SNAP work requirements;
    • Provides additional time for the State of Alaska to resolve its SNAP distribution error rate and carves out SNAP work requirement exemptions for areas with high unemployment rates;
    • Delays implementation of new SNAP work requirements if they are showing “good faith” effort through 2028;
    • Permanently extends key tax-free savings provisions for Achieving a Better Life Experience (ABLE) accounts, allowing individuals with disabilities to save for their future without losing access to Medicaid and Social Security;
    • Allows telehealth copays to be covered by insurance outside of overall health insurance deductibles, making it easier for seniors and Alaskans in rural areas to use telehealth; and
    • Allows telehealth copays to be covered by insurance outside of overall health insurance deductibles, making it easier for seniors and Alaskans in rural areas to use telehealth;
    • Expands home- and community-based care for people with disabilities;
    • Includes a 2.5 percent Medicare reimbursement rate increase for FY 2026—known as the “doc fix”—to ensure that seniors utilizing Medicare continue to have access to care; and
    • Repeals Biden-era nursing home staffing mandates that threatened to close Alaska nursing home facilities, a top priority of rural health care providers.

    “My team and I worked hard to ensure the One Big Beautiful Bill protects Alaska’s most vulnerable communities, especially our seniors and those struggling to make ends meet,” said Sen. Sullivan. “We secured provisions that will provide real relief, like a $12,000 tax deduction that helps older Alaskans keep more of their hard-earned retirement income, and expanded telehealth access that makes care more affordable and accessible in our rural communities. We also were able to exempt seniors from burdensome work requirements and repeal a disastrous Biden-era federal nursing home mandate that threatened to close facilities across our state.

    “Contrary to some of the fear-mongering by critics, this bill makes no changes to Medicare or Social Security. Programs like Medicare, Medicaid, and SNAP were created to protect our most vulnerable populations, and this legislation helps ensure that these social safety net programs are there for Americans and Alaskans who need them.

    “My team and I also secured flexibility for implementing both the new Medicaid and Supplemental Nutrition Assistance Program (SNAP) work requirements for Alaska, including exemptions for all Alaska Native people, parents or guardians of children 14 and under, caregivers for elders and adults with disabilities, individuals who are medically frail or are dealing with a substance use disorder, veterans, pregnant women, and areas of high unemployment. With regard to SNAP, I helped secure a delay for Alaska to implement these work requirements until 2029 based on a good faith effort. These flexibilities will be crucial to ensuring our state’s most vulnerable continue to receive benefits while allowing the State breathing room to adjust to the new requirements under the bill.

    “This bill provides good governance cost-sharing measures to ensure that states properly administer their programs and get SNAP benefits to people who need it most. However, the State of Alaska is working on modernizing their system to administer their program and will need extra time to complete the overhaul. I pushed intensely to secure up to a two-year delay before the cost-sharing measures come into play. This crucial delay will provide the State the time it needs to overhaul their system and improve their program—ultimately ensuring that people who need SNAP the most, are the ones who receive it.”

    IX. Achieving Historic Savings for Our Children’s Future

    Sen. Sullivan shares the serious concern many Alaskans have about the size and scope of federal spending, especially the risks posed by the country’s $36 trillion debt. According to the nonpartisan Congressional Budget Office (CBO), the One Big Beautiful Bill Act of 2025 represents one of the largest federal spending reductions in American history, roughly $1.6 trillion, and will reduce the federal budget deficit by $508 billion over ten years. According to the White House Council of Economic Advisers, the legislation will result in the debt-to-GDP ratio falling to between 88 and 99 percent, instead of rising to 117 percent without the bill.

    “Our national debt of over $36 trillion has reached dangerous, unsustainable levels. Last year, we paid out more in interest on this debt—upwards of $950 billion—than we did to fund our military at about $870 billion,” said Sen. Sullivan. “When you look at history, great powers begin to fail when they hit this precarious inflection point—spending more in interest on the debt than they do to protect their own nation. These debt and spending levels also drive high inflation rates, as we’ve seen over the past few years, which remain the top concern of Alaskan families—the high cost of living. This bill includes one of largest spending reductions in history—$1.6 trillion, and will reduce the deficit by $508 billion over ten years. The bill accomplishes these reductions by eliminating waste, fraud, and abuse—not by cutting essential services.”

    X. Fighting Back Against Senate Democrats and Minority Leader Schumer’s Relentless Attempts to Shut Down Alaska’s Economy and Harm Our Citizens

    In the budget reconciliation process, the parliamentarian of the Senate only rules on provisions of the bill when they are challenged by Democrat or Republican party leaders, to see if those provisions violate the so-called “Byrd Rule,” which dictates that a provision in reconciliation legislation must be principally focused on the budget, spending and taxes. The Byrd rule and the parliamentarian’s role are not self-executing, meaning, the parliamentarian does not scrub budget reconciliation bills looking for violations of the Byrd rule. She only looks into these issues if those issues are challenged by the Republican or Democratic Senate leaders.

    In this bill, Democrats in the Senate, led by Minority Leader Chuck Schumer, challenged nearly every single provision in the bill that would benefit Alaska. The most egregious was Sen. Sullivan’s provision, which he’s worked on for years, to increase the federal match for Medicaid in Alaska. Sen. Sullivan secured the provision in the bill, which was supported by all Senate Republicans and the White House, and would have provided Alaska with hundreds of millions of dollars more a year in federal Medicaid dollars.

    The irony of this outcome is particularly strong given that far-left-wing Democrat-affiliated groups have been falsely attacking Senator Sullivan for weeks on cutting Medicaid. The only people objectively and factually trying to cut Medicaid for Alaskans are Chuck Schumer and Senate Democrats, who successfully did so when they stripped out Sen. Sullivan’s FMAP provision for Alaska that was already in the budget reconciliation bill.

    Other provisions that would dramatically help Alaska, but were challenged by Sen. Schumer and the Senate Democratic leadership to strip out of the budget reconciliation bill, include:

    • ANWR leases;
    • NPR-A leases;
    • Cook Inlet leases;
    • Increased funding for rural Alaska hospitals;
    • Coast Guard funding for Alaska, including facilities for the new icebreaker home-ported in Juneau;
    • Funding for potential Arctic military bases;
    • Border security;
    • Charitable deductions for Alaska whaling communities; and
    • Greater flexibility for SNAP requirements.

    “Here is an undeniable fact: The only people who are advocating cutting Medicaid for Alaskans are Chuck Schumer and the Senate Democrats,” said Sen. Sullivan. “Worse, this is just one of a number of positive provisions for Alaska that Senate Democrats’ fought to strip out of the budget reconciliation bill. This is consistent with the long pattern of National Democrats’ attempts, for decades, to lock up our state, shut down our economy, and hurt our working families.”

    MIL OSI USA News

  • MIL-OSI USA: Lummis Releases List of Wyoming Wins in One Big Beautiful Bill

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis

    July 1, 2025

    Washington, D.C. – Senator Cynthia Lummis (R-WY) today released the following statement and list highlighting some Wyoming specific wins included in the One Big Beautiful Bill that passed the Senate today.  

    “The One Big Beautiful Bill represents a victory for our state and our nation’s future,” Lummis said. “This legislation reverses years of federal policies that hurt Wyoming’s energy workers and families, instead focusing on real American priorities: expanding domestic energy production, cutting taxes for working families, and backing our ranchers and farmers.”

    Background: 

    Coal Industry:

    • Reduced Royalty Rates: Cuts federal coal royalty rates from 12.5% to 7% for new and existing leases through 2034 to incentivize production and increase revenue.
    • Mandatory New Leases: Requires Interior Secretary to lease at least 4 million additional acres of known recoverable coal reserves within 90 days of enactment.
    • Enhanced Market Access: Eliminates regulatory barriers that have prevented coal development on federal lands.

    Oil & Gas:

    • Quarterly Lease Sales: Mandates BLM hold quarterly lease sales in nine Western states, including Wyoming, for ten years.
    • Extended Drilling Permits: Increases drilling permits from three to four years, providing greater operational certainty.
    • Eliminated Bureaucratic Fees: Removes the $5-per-acre Expression of Interest Fee that previously discouraged land nominations.
    • Restored Competitive Framework: Reinstates noncompetitive leasing to encourage exploration and streamlines surface commingling applications.
    • Fair Royalty Rates: Restores pre–Inflation Reduction Act royalty rate of 12.5%, reversing punitive increases.
    • Faster NEPA Timelines: Introduces optional expedited environmental review process under NEPA, allowing project sponsors to pay fees for faster timelines (one year for Environmental Impact Statements, six months for Environmental Assessments).

    Timber Sales & Wildfire Prevention:

    • Mandatory Timber Contracts: Requires USFS to enter 40 long-term timber sale contracts between 2025-2034 to reduce wildfire risk, boost the economy, and create WY jobs.

    State & Local Revenue:

    • Fair Revenue Distribution: Directs 25% of renewable energy revenue from public lands to state where the lease operates. 
    • County Support: Allocates additional 25% to counties based on project location, ensuring local communities benefit from development.

    Bureau of Reclamation Investment:

    • $1 Billion Investment: Dedicated funding for restoration and expansion of surface water storage facilities. Wyoming has seven irrigation districts and water storage capacity.
    • Conveyance Facility Improvements: Funds construction activities that restore or increase capacity of existing facilities.

    Livestock Protection:

    • Depredation Reimbursement: Provides compensation for livestock losses due to wolves, bears, and eagles.
    • Drought/Fire Relief: Expands eligibility and payments for grazing losses on federal lands
    • Risk Management: Strengthens programs for disease preparedness, lab testing, and vaccine stockpiles.

    Market Access & Production:

    • Export Promotion: Creates permanent $285 million annual USDA program for agricultural export marketing.
    • Base Acre Expansion: Allows enrollment of up to 30 million new base acres to address Western producer inequities.
    • Production History Recognition: Includes previously ineligible lands in farm programs.

    Estate Tax Relief:

    • Increased Exemption: Raises estate tax exemption to $15 million (single)/$30 million (married), indexed for inflation.
    • Generational Help: Helps families pass ranches and farms to next generation without crushing tax burden.

    Business Investment Incentives:

    • Equipment Expensing: Restores 100% immediate expensing for new and used equipment – making it easier to invest in growth and resilience strategies for our hard-working ranchers
    • Investment Threshold: Raises immediate expensing cap to $2.5 million for equipment and property purchases.
    • Rural Economic Development: Provides powerful tools for reinvestment in operations and rural community growth.

    MIL OSI USA News

  • MIL-OSI: BitMart Research—Reframing the On-Chain Narrative: What New Story Is Base Telling?

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles, July 01, 2025 (GLOBE NEWSWIRE) — BitMart Research, the research arm of BitMart Exchange, has released a comprehensive analysis on the resurgence of the Base ecosystem, highlighting its explosive growth, evolving narratives, and rising institutional alignment. As daily active addresses, TVL, and transaction volumes reach new highs, Base is rapidly transitioning from a speculative L2 to a foundational layer for compliant, on-chain financial and content infrastructure. With support from Coinbase’s strategic initiatives and breakout projects like Virtual and Kaito redefining launch dynamics and the attention economy, Base is emerging as a pivotal force in bridging traditional finance and Web3 innovation.

    1. Recent Developments in the Base Ecosystem

    Since the end of May 2025, Base has entered a clear period of ecological “explosion.” Key metrics such as daily active addresses, total value locked (TVL), and daily transaction count have surged significantly. The main driver behind this explosive growth is the emergence of multiple trending narratives within the Base ecosystem, each generating waves of market hype and drawing substantial attention.

    From a macro perspective, the recent IPO of Circle has sparked renewed investor optimism around the concept of stablecoins in global equity markets. This optimism, especially amid expectations of a more favorable regulatory environment, has positioned Base as an increasingly attractive option for traditional institutions.

    • User Growth: The number of active addresses has grown exponentially, recently hitting a record high of 3.6 million.
    • TVL Surge: Base’s total value locked climbed from $2.8 billion in early May to a peak of nearly $4 billion, matching its bull market highs in 2024.
    • On-Chain Activity: Since May, daily on-chain transactions have averaged nearly 9 million, reaching the peak levels of the 2024 bull cycle.

    2. Trending Projects in the Base Ecosystem


    Virtual: Pump.fun + Bn Alpha-Style Launch Mechanism Sparks Market Frenzy

    Among the many trending projects in the Base ecosystem, Virtual has undoubtedly become one of the most closely watched by the market. Leveraging an innovative token launch mechanism, it has rapidly attracted a large influx of capital and users, emerging as the flagship project in Base’s ongoing “launch narrative.” The price of VIRTUAL rose from $0.50 in mid-April to a peak of $2.50 in early June—a 400% gain.

    The key advantages of Virtual’s launch model include:

    • Ultra-low fundraising price: Each new project raises funding based on a fixed valuation of 42,425 VIRTUAL (approximately $224,000), allowing users to participate at extremely low entry prices. This creates substantial profit potential once the token goes live.
    • Linear token vesting: Unlike MEME launches on Pump.fun, tokens in Virtual’s launchpad projects are not fully unlocked at listing. Instead, they follow a transparent vesting model similar to VC-backed tokens, with tokens released in tranches. Moreover, to prevent immediate sell-offs by project teams, all raised funds are injected directly into the initial liquidity pool rather than handed over to the team.
    • Low participation risk: If a launch fails to meet its fundraising target, users receive a full refund. Additionally, Virtual only features a few new launches per day, meaning the overall project quality tends to be higher than most MEME tokens—making user participation relatively low-risk.
    • Reduced rug-pull potential: Virtual imposes a 1% trading fee, 70% of which is returned to the project team. This incentivizes teams to focus on increasing trading volume rather than cashing out quickly, creating a more sustainable ecosystem loop.

    However, as the platform gained popularity, early users frequently adopted a strategy of selling immediately after token launch to capture short-term gains. This behavior led to heavy selling pressure on new projects, undermining overall ecosystem stability. In response, Virtual introduced a “Green Lock” mechanism in mid-June, imposing a mandatory lock-up period on token allocations for launch participants. During this period, users are prohibited from selling their tokens; violating this rule results in a suspension of points accumulation.

    While this mechanism helps curb early dumping and extends project lifespans, it also significantly alters the speculative logic that drove initial enthusiasm. Users now face longer profit cycles and lower capital efficiency, leading to a temporary cooling of market sentiment. Since mid-June, the price of VIRTUAL has entered a downward trend, falling from its peak to $1.69—a decline of over 37%.

    Kaito: The Leading Project in the Attention Economy

    Kaito stands as the leading project in the emerging “Information Finance” (InfoFi) sector. Since May, its token price has surged from $0.79 to a peak of $2.41, marking an increase of nearly 205%.

    At the core of Kaito’s appeal is its Yaps module, which tokenizes user attention by rewarding those who post content on X (formerly Twitter). By incentivizing high-quality content creation around trending projects—such as Berachain, Monad, and Initia—Kaito has built a Web3-native content-driven influence model. This mechanism has significantly boosted community engagement. Coupled with weekly airdrops and leaderboard rewards, users are empowered to both “speak” and “monetize,” attracting a growing number of content creators and thought leaders. This dynamic has played a key role in driving the growth of social and narrative-driven content on the Base network.

    3. Coinbase and the Future Trajectory of Base

    In June 2025, the U.S. Senate passed the GENIUS Stablecoin Act, establishing a formal legal framework for USD-backed stablecoins. This marked the first time that regulatory authorities legally recognized digital assets’ compliance status. Against this backdrop, Coinbase, as a fully compliant U.S.-based exchange, has launched a three-pronged strategic layout around Base:

    1. Enabling Regulated On-Chain Asset Access — Bridging Coinbase Balances to Base

    Coinbase is currently deepening the integration between its centralized trading platform and the Base chain. It has rolled out the Verified Pools feature, allowing KYC-verified users to interact directly with Base dApps using their Coinbase account balances—eliminating the need to switch wallets or perform manual on-chain transfers.

    Uniswap and Aerodrome have already been announced as the primary DEXs supporting this integration. Although the feature remains in its early stages, it aligns with the broader trend of centralized exchanges moving toward on-chain/off-chain convergence.

    2. Building a Compliant Stablecoin Ecosystem with Traditional Finance — Tokenizing Fiat On-Chain

    Following the establishment of an access gateway, Coinbase has partnered with Wall Street giants—including JPMorgan Chase—to pilot the issuance of compliant stablecoins and deposit tokens (e.g., JPMD) on Base. These assets are fully custodied by regulated banks and come with traditional financial benefits such as interest accrual, legal protections, and deposit insurance.

    This initiative goes beyond simply putting USD on-chain—it represents the digitization of traditional financial system infrastructure, positioning Base as a core ledger layer for real-world finance in the Web3 ecosystem.

    3. Building a Diverse On-Chain Ecosystem — Creating Real Use Cases for On-Chain Dollars

    To strengthen actual demand for on-chain USD, Coinbase is simultaneously expanding the Base ecosystem with a wide array of applications:

    • On-Chain U.S. Stock Trading: Coinbase is seeking SEC approval to tokenize U.S. equities, planning to launch products that allow trading of Apple, Tesla, and other stocks directly on-chain—removing geographical barriers from traditional markets.
    • Collaboration with Circle: The launch of Circle Payments Network (CPN) provides USDC with robust clearing infrastructure. As the leading stablecoin on Base, USDC will support DeFi, RWA, and cross-border payment applications—positioning Base as a key hub for compliant blockchain finance.
    • Global Crypto Payments: Coinbase is working with Shopify and Stripe to integrate USDC into e-commerce checkout systems, expanding the real-world use of stablecoins in cross-border settlements.
    • Compliant DeFi and On-Chain Lending: Protocols such as Aerodrome, Uniswap, and Spark are being guided toward KYC-enabled, compliant operations, offering secure and auditable services in trading and lending for both institutions and retail users.
    • AI Agents and InfoFi Applications: New on-chain innovations like AI Agents and attention economy platforms (e.g., Kaito) are being explored to attract traditional users into emerging crypto-native interaction models.

    Through this multi-layered strategy, Coinbase is not only building a regulated on-chain asset highway, but also constructing a value loop for USD stablecoins—from fiat onboarding and token issuance to liquidity, circulation, and real-world application.

    High-Potential Projects in the Base Ecosystem

    • Aerodrome: As the flagship DEX on Base and a key partner in Coinbase’s integration plan, Aerodrome is well-positioned to benefit from stable institutional liquidity flows. This will likely boost trading volume, TVL, and protocol revenues. Holders of AERO tokens stand to gain from enhanced fee-sharing and staking yields, reinforcing user participation in governance.
    • Uniswap: Similarly, Uniswap—another DEX integrated by Coinbase—will gain increased on-chain liquidity and potential platform revenue, thereby enhancing the value proposition of its UNI token.
    • Keeta: A high-performance RWA-focused chain claiming millions of TPS and sub-second confirmation times. Backed by investors including former Google CEO Eric Schmidt, Keeta has already validated its performance through independent stress testing. Despite significant token price corrections, it is expected to collaborate with Base on compliant RWA integration.
    • Creator Bid: In partnership with Kaito, Creator Bid launched version 2.0 with new features such as staking-based launches, increasing user engagement and expanding creator economy models. The platform’s BID token recently reached a historical market cap of $150 million, showing early signs of traction. Similar to Virtual’s early-stage momentum, Creator Bid is poised for continued growth as it iterates.
    • Upside: The first socially driven prediction market on Base. Users can tokenize X/Twitter posts, articles, and videos, and use USDC to vote and trade on them. Currently in its second test season with ~20,000 followers on X, the platform has not yet issued a token, but its unique blend of prediction and content mechanics gives it strong potential to become a liquid and narrative-rich application on Base.

    Conclusion

    Base is undergoing a transformation—from being merely a “high-activity trading L2” into a structurally complete financial and content infrastructure on-chain. From innovation-driven projects like Virtual and Kaito, to Coinbase’s efforts in building a robust USD-denominated ecosystem, the narrative of Base is evolving.

    While short-term hype cycles may cool and speculative behaviors persist, Base’s long-term strength lies in its consistent storytelling and institutional alignment. It is increasingly poised to serve as a bridge between traditional capital and Web3, making it not just a rotating narrative hotspot, but a vital reference point for tracking the crypto industry’s broader shift toward compliance, financialization, and utility.

    About BitMart

    BitMart is a premier global digital asset trading platform with more than 10 million users worldwide. Consistently ranked among the top crypto exchanges on CoinGecko, BitMart offers over 1,700 trading pairs with competitive fees. Committed to continuous innovation and financial inclusivity, BitMart empowers users globally to trade seamlessly. Learn more about BitMart at Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    Risk Warning:

    The information provided is for reference only and should not be considered a recommendation to buy, sell or hold any financial asset. All information is provided in good faith. However, we make no representations or warranties, express or implied, as to the accuracy, adequacy, validity, reliability, availability or completeness of such information.

    All cryptocurrency investments (including returns) are highly speculative in nature and involve significant risk of loss. Past, hypothetical or simulated performance is not necessarily indicative of future results. The value of digital currencies may rise or fall, and there may be significant risks in buying, selling, holding or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial situation and risk tolerance. BitMart does not provide any investment, legal or tax advice.

    The MIL Network

  • MIL-OSI: BitMart Research—Reframing the On-Chain Narrative: What New Story Is Base Telling?

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles, July 01, 2025 (GLOBE NEWSWIRE) — BitMart Research, the research arm of BitMart Exchange, has released a comprehensive analysis on the resurgence of the Base ecosystem, highlighting its explosive growth, evolving narratives, and rising institutional alignment. As daily active addresses, TVL, and transaction volumes reach new highs, Base is rapidly transitioning from a speculative L2 to a foundational layer for compliant, on-chain financial and content infrastructure. With support from Coinbase’s strategic initiatives and breakout projects like Virtual and Kaito redefining launch dynamics and the attention economy, Base is emerging as a pivotal force in bridging traditional finance and Web3 innovation.

    1. Recent Developments in the Base Ecosystem

    Since the end of May 2025, Base has entered a clear period of ecological “explosion.” Key metrics such as daily active addresses, total value locked (TVL), and daily transaction count have surged significantly. The main driver behind this explosive growth is the emergence of multiple trending narratives within the Base ecosystem, each generating waves of market hype and drawing substantial attention.

    From a macro perspective, the recent IPO of Circle has sparked renewed investor optimism around the concept of stablecoins in global equity markets. This optimism, especially amid expectations of a more favorable regulatory environment, has positioned Base as an increasingly attractive option for traditional institutions.

    • User Growth: The number of active addresses has grown exponentially, recently hitting a record high of 3.6 million.
    • TVL Surge: Base’s total value locked climbed from $2.8 billion in early May to a peak of nearly $4 billion, matching its bull market highs in 2024.
    • On-Chain Activity: Since May, daily on-chain transactions have averaged nearly 9 million, reaching the peak levels of the 2024 bull cycle.

    2. Trending Projects in the Base Ecosystem


    Virtual: Pump.fun + Bn Alpha-Style Launch Mechanism Sparks Market Frenzy

    Among the many trending projects in the Base ecosystem, Virtual has undoubtedly become one of the most closely watched by the market. Leveraging an innovative token launch mechanism, it has rapidly attracted a large influx of capital and users, emerging as the flagship project in Base’s ongoing “launch narrative.” The price of VIRTUAL rose from $0.50 in mid-April to a peak of $2.50 in early June—a 400% gain.

    The key advantages of Virtual’s launch model include:

    • Ultra-low fundraising price: Each new project raises funding based on a fixed valuation of 42,425 VIRTUAL (approximately $224,000), allowing users to participate at extremely low entry prices. This creates substantial profit potential once the token goes live.
    • Linear token vesting: Unlike MEME launches on Pump.fun, tokens in Virtual’s launchpad projects are not fully unlocked at listing. Instead, they follow a transparent vesting model similar to VC-backed tokens, with tokens released in tranches. Moreover, to prevent immediate sell-offs by project teams, all raised funds are injected directly into the initial liquidity pool rather than handed over to the team.
    • Low participation risk: If a launch fails to meet its fundraising target, users receive a full refund. Additionally, Virtual only features a few new launches per day, meaning the overall project quality tends to be higher than most MEME tokens—making user participation relatively low-risk.
    • Reduced rug-pull potential: Virtual imposes a 1% trading fee, 70% of which is returned to the project team. This incentivizes teams to focus on increasing trading volume rather than cashing out quickly, creating a more sustainable ecosystem loop.

    However, as the platform gained popularity, early users frequently adopted a strategy of selling immediately after token launch to capture short-term gains. This behavior led to heavy selling pressure on new projects, undermining overall ecosystem stability. In response, Virtual introduced a “Green Lock” mechanism in mid-June, imposing a mandatory lock-up period on token allocations for launch participants. During this period, users are prohibited from selling their tokens; violating this rule results in a suspension of points accumulation.

    While this mechanism helps curb early dumping and extends project lifespans, it also significantly alters the speculative logic that drove initial enthusiasm. Users now face longer profit cycles and lower capital efficiency, leading to a temporary cooling of market sentiment. Since mid-June, the price of VIRTUAL has entered a downward trend, falling from its peak to $1.69—a decline of over 37%.

    Kaito: The Leading Project in the Attention Economy

    Kaito stands as the leading project in the emerging “Information Finance” (InfoFi) sector. Since May, its token price has surged from $0.79 to a peak of $2.41, marking an increase of nearly 205%.

    At the core of Kaito’s appeal is its Yaps module, which tokenizes user attention by rewarding those who post content on X (formerly Twitter). By incentivizing high-quality content creation around trending projects—such as Berachain, Monad, and Initia—Kaito has built a Web3-native content-driven influence model. This mechanism has significantly boosted community engagement. Coupled with weekly airdrops and leaderboard rewards, users are empowered to both “speak” and “monetize,” attracting a growing number of content creators and thought leaders. This dynamic has played a key role in driving the growth of social and narrative-driven content on the Base network.

    3. Coinbase and the Future Trajectory of Base

    In June 2025, the U.S. Senate passed the GENIUS Stablecoin Act, establishing a formal legal framework for USD-backed stablecoins. This marked the first time that regulatory authorities legally recognized digital assets’ compliance status. Against this backdrop, Coinbase, as a fully compliant U.S.-based exchange, has launched a three-pronged strategic layout around Base:

    1. Enabling Regulated On-Chain Asset Access — Bridging Coinbase Balances to Base

    Coinbase is currently deepening the integration between its centralized trading platform and the Base chain. It has rolled out the Verified Pools feature, allowing KYC-verified users to interact directly with Base dApps using their Coinbase account balances—eliminating the need to switch wallets or perform manual on-chain transfers.

    Uniswap and Aerodrome have already been announced as the primary DEXs supporting this integration. Although the feature remains in its early stages, it aligns with the broader trend of centralized exchanges moving toward on-chain/off-chain convergence.

    2. Building a Compliant Stablecoin Ecosystem with Traditional Finance — Tokenizing Fiat On-Chain

    Following the establishment of an access gateway, Coinbase has partnered with Wall Street giants—including JPMorgan Chase—to pilot the issuance of compliant stablecoins and deposit tokens (e.g., JPMD) on Base. These assets are fully custodied by regulated banks and come with traditional financial benefits such as interest accrual, legal protections, and deposit insurance.

    This initiative goes beyond simply putting USD on-chain—it represents the digitization of traditional financial system infrastructure, positioning Base as a core ledger layer for real-world finance in the Web3 ecosystem.

    3. Building a Diverse On-Chain Ecosystem — Creating Real Use Cases for On-Chain Dollars

    To strengthen actual demand for on-chain USD, Coinbase is simultaneously expanding the Base ecosystem with a wide array of applications:

    • On-Chain U.S. Stock Trading: Coinbase is seeking SEC approval to tokenize U.S. equities, planning to launch products that allow trading of Apple, Tesla, and other stocks directly on-chain—removing geographical barriers from traditional markets.
    • Collaboration with Circle: The launch of Circle Payments Network (CPN) provides USDC with robust clearing infrastructure. As the leading stablecoin on Base, USDC will support DeFi, RWA, and cross-border payment applications—positioning Base as a key hub for compliant blockchain finance.
    • Global Crypto Payments: Coinbase is working with Shopify and Stripe to integrate USDC into e-commerce checkout systems, expanding the real-world use of stablecoins in cross-border settlements.
    • Compliant DeFi and On-Chain Lending: Protocols such as Aerodrome, Uniswap, and Spark are being guided toward KYC-enabled, compliant operations, offering secure and auditable services in trading and lending for both institutions and retail users.
    • AI Agents and InfoFi Applications: New on-chain innovations like AI Agents and attention economy platforms (e.g., Kaito) are being explored to attract traditional users into emerging crypto-native interaction models.

    Through this multi-layered strategy, Coinbase is not only building a regulated on-chain asset highway, but also constructing a value loop for USD stablecoins—from fiat onboarding and token issuance to liquidity, circulation, and real-world application.

    High-Potential Projects in the Base Ecosystem

    • Aerodrome: As the flagship DEX on Base and a key partner in Coinbase’s integration plan, Aerodrome is well-positioned to benefit from stable institutional liquidity flows. This will likely boost trading volume, TVL, and protocol revenues. Holders of AERO tokens stand to gain from enhanced fee-sharing and staking yields, reinforcing user participation in governance.
    • Uniswap: Similarly, Uniswap—another DEX integrated by Coinbase—will gain increased on-chain liquidity and potential platform revenue, thereby enhancing the value proposition of its UNI token.
    • Keeta: A high-performance RWA-focused chain claiming millions of TPS and sub-second confirmation times. Backed by investors including former Google CEO Eric Schmidt, Keeta has already validated its performance through independent stress testing. Despite significant token price corrections, it is expected to collaborate with Base on compliant RWA integration.
    • Creator Bid: In partnership with Kaito, Creator Bid launched version 2.0 with new features such as staking-based launches, increasing user engagement and expanding creator economy models. The platform’s BID token recently reached a historical market cap of $150 million, showing early signs of traction. Similar to Virtual’s early-stage momentum, Creator Bid is poised for continued growth as it iterates.
    • Upside: The first socially driven prediction market on Base. Users can tokenize X/Twitter posts, articles, and videos, and use USDC to vote and trade on them. Currently in its second test season with ~20,000 followers on X, the platform has not yet issued a token, but its unique blend of prediction and content mechanics gives it strong potential to become a liquid and narrative-rich application on Base.

    Conclusion

    Base is undergoing a transformation—from being merely a “high-activity trading L2” into a structurally complete financial and content infrastructure on-chain. From innovation-driven projects like Virtual and Kaito, to Coinbase’s efforts in building a robust USD-denominated ecosystem, the narrative of Base is evolving.

    While short-term hype cycles may cool and speculative behaviors persist, Base’s long-term strength lies in its consistent storytelling and institutional alignment. It is increasingly poised to serve as a bridge between traditional capital and Web3, making it not just a rotating narrative hotspot, but a vital reference point for tracking the crypto industry’s broader shift toward compliance, financialization, and utility.

    About BitMart

    BitMart is a premier global digital asset trading platform with more than 10 million users worldwide. Consistently ranked among the top crypto exchanges on CoinGecko, BitMart offers over 1,700 trading pairs with competitive fees. Committed to continuous innovation and financial inclusivity, BitMart empowers users globally to trade seamlessly. Learn more about BitMart at Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    Risk Warning:

    The information provided is for reference only and should not be considered a recommendation to buy, sell or hold any financial asset. All information is provided in good faith. However, we make no representations or warranties, express or implied, as to the accuracy, adequacy, validity, reliability, availability or completeness of such information.

    All cryptocurrency investments (including returns) are highly speculative in nature and involve significant risk of loss. Past, hypothetical or simulated performance is not necessarily indicative of future results. The value of digital currencies may rise or fall, and there may be significant risks in buying, selling, holding or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial situation and risk tolerance. BitMart does not provide any investment, legal or tax advice.

    The MIL Network

  • MIL-OSI: Credit Building Apps (2025): Kikoff Recognized for Accessible, Low-Risk Credit Tools in Expert Consumers Report

    Source: GlobeNewswire (MIL-OSI)

    New York City, July 01, 2025 (GLOBE NEWSWIRE) — Expert Consumers has published a new report identifying the leading credit-building app of 2025, with Kikoff receiving top recognition for its consistent performance, beginner-friendly structure, and accessibility for consumers with limited or no credit history.

    The annual evaluation focused on platforms that provide effective credit-building pathways without requiring interest payments, hard credit checks, or complex account structures. Kikoff stood out for its low-cost plans, ease of use, and ability to report to all three major credit bureaus – positioning it as a strong option for individuals starting or rebuilding their credit journey.

    Designed for Credit-Invisible and First-Time Users

    Kikoff’s platform is built to address the needs of the estimated 45 million U.S. adults who are credit-invisible or unscored. Its service model includes:

    • No hard credit checks
    • Monthly plans starting at $5
    • Reports to Equifax, Experian, and TransUnion
    • No interest or hidden fees
    • Built-in financial education tools

    This structure allows users to establish positive credit history in a predictable, low-risk environment – without taking on traditional debt or facing fees for missed requirements.

    How Kikoff’s Model Works

    Kikoff offers users a virtual tradeline – typically starting at $750 – which can be used to make purchases in its online store or access its financial wellness services. Users repay on a monthly schedule, with consistent reporting to credit bureaus to help build payment history and credit utilization metrics.

    Key features include:

    • No prior credit history required
    • Fixed monthly payments
    • Support for credit-building fundamentals

    Plans Available in 2025

    To meet a range of credit goals, Kikoff provides three plan tiers:

    • Basic – $5/month: $750 tradeline, monthly bureau reporting, and access to credit tips
    • Premium – $20/month: Tradeline up to $2,500, includes rent reporting and credit monitoring
    • Ultimate – $35/month: Up to $3,500 tradeline, identity protection, and expanded benefits

    All plans remain interest-free and are designed to build credit gradually over time.

    Performance in Real-World Credit Scenarios

    In testing environments, Kikoff demonstrated a reliable pattern of credit score improvement over a three- to six-month period, especially for users starting from limited credit backgrounds. Its transparency, simple onboarding process, and structured payment model contributed to its top placement in this year’s report.

    Unlike traditional credit cards or installment loans, Kikoff does not rely on user credit scores for approval and avoids common fees and interest charges. This makes it a practical choice for consumers seeking a straightforward entry point into the credit system.

    Evaluated on Key Credit-Building Metrics

    Expert Consumers’ 2025 review assessed leading platforms based on:

    • Ease of access and onboarding
    • Cost structure
    • Credit score impact
    • User experience
    • Bureau coverage

    Kikoff performed strongly in each category, with standout marks in affordability and accessibility.

    Reflecting Broader Trends in Consumer Credit

    The growing popularity of tools like Kikoff reflects broader shifts in consumer finance, including:

    • Increased demand for alternative credit solutions
    • Rising interest in fintech among Gen Z and Millennials
    • A focus on transparency and predictability
    • Expanded use of credit data in housing, employment, and insurance

    Kikoff’s approach – centered on ease, trust, and education – continues to align with these trends, offering consumers a practical path forward in today’s financial landscape.

    Looking Forward

    With continued development in areas like rent reporting and digital identity protection, Kikoff is positioned to evolve alongside the needs of modern consumers. Analysts expect further growth in this sector as more users seek accessible, digital-first tools to navigate the credit system.

    For full evaluation results, visit ExpertConsumers.org.

    About Expert Consumers
    Expert Consumers provides independent reviews and rankings of consumer products and services. As an affiliate publisher, it may earn commissions from purchases made via links in its content.

    About Kikoff
    Kikoff is a credit-building platform helping users establish and grow credit through interest-free, no-fee plans with monthly reporting to all major credit bureaus. Designed especially for beginners, Kikoff supports long-term financial health through simple tools and educational resources.

    The MIL Network

  • MIL-OSI Submissions: The hidden cost of convenience: How your data pulls in hundreds of billions of dollars for app and social media companies

    Source: The Conversation – USA – By Kassem Fawaz, Associate Professor of Electrical and Computer Engineering, University of Wisconsin-Madison

    Many apps and social media platforms collect detailed information about you as you use them, and sometimes even when you’re not using them. Malte Mueller/fStop via Getty images

    You wake up in the morning and, first thing, you open your weather app. You close that pesky ad that opens first and check the forecast. You like your weather app, which shows hourly weather forecasts for your location. And the app is free!

    But do you know why it’s free? Look at the app’s privacy settings. You help keep it free by allowing it to collect your information, including:

    • What devices you use and their IP and Media Access Control addresses.
    • Information you provide when signing up, such as your name, email address and home address.
    • App settings, such as whether you choose Celsius or Fahrenheit.
    • Your interactions with the app, including what content you view and what ads you click.
    • Inferences based on your interactions with the app.
    • Your location at a given time, including, depending on your settings, continuous tracking.
    • What websites or apps that you interact with after you use the weather app.
    • Information you give to ad vendors.
    • Information gleaned by analytics vendors that analyze and optimize the app.

    This type of data collection is standard fare. The app company can use this to customize ads and content. The more customized and personalized an ad is, the more money it generates for the app owner. The owner might also sell your data to other companies.

    Many apps, including the weather channel app, send you targeted advertising and sell your personal data by default.
    Jack West, CC BY-ND

    You might also check a social media account like Instagram. The subtle price that you pay is, again, your data. Many “free” mobile apps gather information about you as you interact with them.

    As an associate professor of electrical and computer engineering and a doctoral student in computer science, we follow the ways software collects information about people. Your data allows companies to learn about your habits and exploit them.

    It’s no secret that social media and mobile applications collect information about you. Meta’s business model depends on it. The company, which operates Facebook, Instagram and WhatsApp, is worth US$1.48 trillion. Just under 98% of its profits come from advertising, which leverages user data from more than 7 billion monthly users.




    Read more:
    How Internet of Things devices affect your privacy – even when they’re not yours


    What your data is worth

    Before mobile phones gained apps and social media became ubiquitous, companies conducted large-scale demographic surveys to assess how well a product performed and to get information about the best places to sell it. They used the information to create coarsely targeted ads that they placed on billboards, print ads and TV spots.

    Mobile apps and social media platforms now let companies gather much more fine-grained information about people at a lower cost. Through apps and social media, people willingly trade personal information for convenience. In 2007 – a year after the introduction of targeted ads – Facebook made over $153 million, triple the previous year’s revenue. In the past 17 years, that number has increased by more than 1,000 times.

    Five ways to leave your data

    App and social media companies collect your data in many ways. Meta is a representative case. The company’s privacy policy highlights five ways it gathers your data:

    First, it collects the profile information you fill in. Second, it collects the actions you take on its social media platforms. Third, it collects the people you follow and friend. Fourth, it keeps track of each phone, tablet and computer you use to access its platforms. And fifth, it collects information about how you interact with apps that corporate partners connect to its platforms. Many apps and social media platforms follow similar privacy practices.

    Your data and activity

    When you create an account on an app or social media platform, you provide the company that owns it with information like your age, birth date, identified sex, location and workplace. In the early years of Facebook, selling profile information to advertisers was that company’s main source of revenue. This information is valuable because it allows advertisers to target specific demographics like age, identified gender and location.

    And once you start using an app or social media platform, the company behind it can collect data about how you use the app or social media. Social media keeps you engaged as you interact with other people’s posts by liking, commenting or sharing them. Meanwhile, the social media company gains information about what content you view and how you communicate with other people.

    Advertisers can find out how much time you spent reading a Facebook post or that you spent a few more seconds on a particular TikTok video. This activity information tells advertisers about your interests. Modern algorithms can quickly pick up subtleties and automatically change the content to engage you in a sponsored post, a targeted advertisement or general content.

    Your devices and applications

    Companies can also note what devices, including mobile phones, tablets and computers, you use to access their apps and social media platforms. This shows advertisers your brand loyalty, how old your devices are and how much they’re worth.

    Because mobile devices travel with you, they have access to information about where you’re going, what you’re doing and who you’re near. In a lawsuit against Kochava Inc., the Federal Trade Commission called out the company for selling customer geolocation data in August 2022, shortly after Roe v Wade was overruled. The company’s customers, including people who had abortions after the ruling was overturned, often didn’t know that data tracking their movements was being collected, according to the commission. The FTC alleged that the data could be used to identify households.

    Kochava has denied the FTC’s allegations.

    Information that apps can gain from your mobile devices includes anything you have given an app permission to have, such as your location, who you have in your contact list or photos in your gallery.

    If you give an app permission to see where you are while the app is running, for instance, the platform can access your location anytime the app is running. Providing access to contacts may provide an app with the phone numbers, names and emails of all the people that you know.

    Cross-application data collection

    Companies can also gain information about what you do across different apps by acquiring information collected by other apps and platforms.

    The settings on an Android phone show that Meta uses information it collects about you to target ads it shows you in its apps – and also in other apps and on other platforms – by default.
    Jack West, CC BY-ND

    This is common with social media companies. This allows companies to, for example, show you ads based on what you like or recently looked at on other apps. If you’ve searched for something on Amazon and then noticed an ad for it on Instagram, it’s probably because Amazon shared that information with Instagram.

    This combined data collection has made targeted advertising so accurate that people have reported that they feel like their devices are listening to them.

    Companies, including Google, Meta, X, TikTok and Snapchat, can build detailed user profiles based on collected information from all the apps and social media platforms you use. They use the profiles to show you ads and posts that match your interests to keep you engaged. They also sell the profile information to advertisers.

    Meanwhile, researchers have found that Meta and Yandex, a Russian search engine, have overcome controls in mobile operating system software that ordinarily keep people’s web-browsing data anonymous. Each company puts code on its webpages that used local IPs to pass a person’s browsing history, which is supposed to remain private, to mobile apps installed on that person’s phone, de-anonymizing the data. Yandex has been conducting this tracking since 2017, while Meta began in September 2024, according to the researchers.

    What you can do about it

    If you use apps that collect your data in some way, including those that give you directions, track your workouts or help you contact someone, or if you use social media platforms, your privacy is at risk.

    Aside from entirely abandoning modern technology, there are several steps you can take to limit access – at least in part – to your private information.

    Read the privacy policy of each app or social media platform you use. Although privacy policy documents can be long, tedious and sometimes hard to read, they explain how social media platforms collect, process, store and share your data.

    Check a policy by making sure it can answer three questions: what data does the app collect, how does it collect the data, and what is the data used for. If you can’t answer all three questions by reading the policy, or if any of the answers don’t sit well with you, consider skipping the app until there’s a change in its data practices.

    Remove unnecessary permissions from mobile apps to limit the amount of information that applications can gather from you.

    Be aware of the privacy settings that might be offered by the apps or social media platforms you use, including any setting that allows your personal data to affect your experience or shares information about you with other users or applications.

    These privacy settings can give you some control. We recommend that you disable “off-app activity” and “personalization” settings. “Off-app activity” allows an app to record which other apps are installed on your phone and what you do on them. Personalization settings allow an app to use your data to tailor what it shows you, including advertisements.

    Review and update these settings regularly because permissions sometimes change when apps or your phone update. App updates may also add new features that can collect your data. Phone updates may also give apps new ways to collect your data or add new ways to preserve your privacy.

    Use private browser windows or reputable virtual private networks software, commonly referred to as VPNs, when using apps that connect to the internet and social media platforms. Private browsers don’t store any account information, which limits the information that can be collected. VPNs change the IP address of your machine so that apps and platforms can’t discover your location.

    Finally, ask yourself whether you really need every app that’s on your phone. And when using social media, consider how much information you want to reveal about yourself in liking and commenting on posts, sharing updates about your life, revealing locations you visited and following celebrities you like.


    This article is part of a series on data privacy that explores who collects your data, what and how they collect, who sells and buys your data, what they all do with it, and what you can do about it.

    Kassem Fawaz receives funding from the National Science Foundation. In the past, his research group has received unrestricted gifts from Meta and Google.

    Jack West 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. The hidden cost of convenience: How your data pulls in hundreds of billions of dollars for app and social media companies – https://theconversation.com/the-hidden-cost-of-convenience-how-your-data-pulls-in-hundreds-of-billions-of-dollars-for-app-and-social-media-companies-251698

    MIL OSI

  • MIL-OSI USA News: WHAT THEY ARE SAYING: Senate Approves Landmark One Big Beautiful Bill

    Source: US Whitehouse

    The Senate delivered a resounding victory for American workers, farmers, and small businesses by passing President Donald J. Trump’s One Big Beautiful Bill — a transformative legislative package that locks in historic tax relief, delivers border security, reforms welfare, funds critical infrastructure, and more.

    Industry leaders and stakeholders nationwide hailed the Senate’s vote and called on the House to swiftly send the bill to President Trump’s desk:

    Airlines for America: “We are grateful that the Senate understands the urgent need to overhaul our nation’s air traffic control (ATC) system and included $12.5 billion in their reconciliation package for that cause. This is an important first step as Secretary Duffy works to implement President Trump’s vision of a brand new, state-of-the-art system. We especially appreciate Commerce Committee Chairman Ted Cruz for his long-time dedication to the safety and efficiency of our nation’s airspace. We urge the House of Representatives to quickly pass this legislation so President Trump can sign the One Big Beautiful Bill into law, begin the work of upgrading our ATC system and revitalize our airspace.”

    America’s Credit Unions President and CEO Jim Nussle: “We thank the U.S. Senate for securing the credit union not-for-profit tax status and not adding a new tax on 142 million credit union members as part of H.R. 1. Hard working Americans and their communities rely on the competitive rates and personally tailored services offered by credit unions to achieve their American Dream. By preserving the credit union tax status, it provides consumers across the country with more opportunities to achieve financial freedom.”

    American Airlines: “American Airlines strongly supports the much-needed funding to bolster and modernize our air traffic control system in the Senate reconciliation bill. In addition to staffing challenges, the U.S. air traffic control system’s technology and infrastructure have fallen behind much of the world. As President Trump and Secretary Duffy urgently work to build a state-of-the-art air traffic control system, this down payment is an essential first step in making aviation even safer and more efficient. The reconciliation bill also extends other key pro-growth tax policies that provide businesses with the necessary certainty to continue driving the economy. We urge the House to move swiftly and pass the bill.”

    American Farm Bureau Federation President Zippy Duvall: “Farm Bureau applauds the U.S. Senate for passing the reconciliation package. Farmers and ranchers are the foundation of America’s food supply chain, and they need the certainty that this legislation will provide. Improvements to farm safety net programs that reflect today’s agricultural economy and maintaining important tax provisions will directly benefit farm and ranch families … Important tax provisions will also help farmers save money that can be used to pay bills, invest in new technologies, and pass the family farm to the next generation. We now urge the House to pass the bill and get it to the president’s desk for his signature to ensure America’s farmers and ranchers can continue putting food on the table for America’s families.”

    American Federation for Children CEO Tommy Schultz: “The mission is clear: deliver school choice to every state in America. Today’s vote marks a monumental step toward that goal for the first time in history … We are eager to see President Trump sign school choice into law!”

    American Hotel & Lodging Association President and CEO Rosanna Maietta: “AHLA applauds the Senate’s swift action today to prevent major tax increases on both hotel employees and businesses. The tax provisions included in the Senate bill provide small business hotel owners with the level of certainty they need to effectively operate amidst tremendous uncertainty resulting from years of inflation, trade impacts, and a softening of demand within the broader travel sector. We commend Majority Leader Thune, Senator Crapo, and other Senate champions for securing passage. We urge Congress to swiftly get this package to the President’s desk for his signature to help put businesses back on a pro-growth footing.” 

    American Iron and Steel Institute President and CEO Kevin Dempsey: “Capital investment is crucial for economic growth and job creation in the American steel industry and the manufacturing sector as a whole. Many of the key capital cost recovery provisions of the 2017 tax law have expired or are being phased out. Restoring these provisions is essential to ensuring that many companies will be able to make new investments in steel-intensive facilities and machinery. We applaud Senate passage of this legislation which will permanently restore key provisions that have a proven record of fueling innovation and economic growth, including 100 percent bonus depreciation for business investment, immediate expensing for domestic research and development expenses and the EBITDA-based limitation on business net interest deductions. We urge the House to pass this bill and send it to President Trump this week so that he can sign it into law as soon as possible.”

    American Petroleum Institute President and CEO Mike Sommers: “We applaud the Senate for passing the One Big Beautiful Bill to bolster America’s energy advantage and support economic growth. This historic legislation will help usher in a new era of energy dominance by unlocking opportunities for investment, opening lease sales and expanding access to oil and natural gas development. We will continue to work with policymakers to get this final package to President Trump’s desk.”

    American Soybean Association President Caleb Ragland: “ASA applauds the Senate for its support of agriculture and the farm economy in this legislation. Soybean growers have long championed comprehensive revisions to the 45Z Clean Fuel Production Credit, an improved safety net for agriculture, and increased support for research and market expansion. The modified biofuel tax credits, enhancements to crop insurance and support for MAP and FMD, among other agriculture provisions included in this legislation will support U.S. farmers and expand market opportunities domestically. ASA urges the House to maintain these key agricultural provisions that support our rural economies as they consider this legislation.”

    American Trucking Association SVP of Legislative Affairs Henry Hanscom: “The American Trucking Associations is grateful to Senate Republicans for their hard work to craft a package that will guarantee tax certainty for our nation’s trucking companies. Trucking is the backbone of our economy, employing over 8.5 million Americans in companies that range in size from one-truck operators and small family businesses to enterprise carriers.  Enacting pro-business, pro-growth tax policies will ensure that all of those companies are able to better plan for the future, invest in their workforce and equipment, and move freight safely and efficiently.  As the industry that moves 72% of America’s freight by tonnage, and that is the sole source of freight services for more than 80% of American communities, ATA looks forward to President Trump signing this measure into law as soon as possible.”

    Americans for Prosperity Chief Government Affairs Officer Brent Gardner: “We are so close to delivering a generational win to Americans by making pro-growth tax policy permanent. When we pass this bill, job creators and families will have the certainty they need to invest in their businesses and futures, reigniting the American Dream. We are encouraged by the thoughtful and productive discussions that have brought this legislation back to the House and urge members to pass it expeditiously to ensure that Americans start reaping the benefits of this transformative legislation as soon as possible … It’s time to get this bill to the Oval Office for President Trump’s signature. We’re at the goal line, it’s time to punch it in. Let’s fulfill all those campaign promises and secure this victory for hardworking American taxpayers.”

    Associated Builders and Contractors VP of Government Affairs Kristen Swearingen: “Tax certainty and pro-growth policies are not abstract policy goals for construction businesses—they are the foundation that allows ABC members to invest, grow and keep America building. We thank the Senate for passing this important legislation and urge the U.S. House of Representative to take swift action to send it to the president’s desk.”

    Associated Equipment Distributors President and CEO Brian P. McGuire: “By permanently extending and restoring pro-growth, capital investment incentivizing tax policies, the Senate is ensuring long-term tax code certainty that will benefit the equipment sector and the broader economy. AED applauds Senate Majority Leader John Thune and his team for heeding our call for tax permanence, and we urge the House to pass this legislation and send it to the president’s desk expeditiously.”

    Association of Equipment Manufacturers SVP of Government and Industry Relations Kip Eideberg: “The Association of Equipment Manufacturers applauds the U.S. Senate’s passage of the One Big Beautiful Bill (OBBB) Act — a historic bill that will strengthen U.S. manufacturing, providing the certainty in the tax code necessary for equipment manufacturers to innovate, invest, and create more family-sustaining jobs right here in America. By extending and expanding the tax reforms from 2017, the OBBB will help equipment manufacturers build more in America, while also bolstering our global competitiveness. We commend Leader Thune for his leadership and commitment to ensuring the permanence of President Trump’s pro-growth tax reforms, and applaud the lawmakers involved in driving this effort forward. We urge the U.S. House of Representatives to act swiftly and send the bill to President Trump’s desk.”

    Business Roundtable CEO Joshua Bolten: “Today’s vote puts us on the cusp of extending and strengthening tax reform. Business Roundtable applauds the Senate for passing the One Big Beautiful Bill … The House now has the opportunity to send a swift, decisive signal that America will remain a premier destination for business to invest, hire, and grow. We urge the House to act without delay and send the bill to President Trump’s desk by the Fourth of July.”

    Center for Transportation Policy Executive Director Jackson Shedelbower: “… it’s clear that lawmakers are united in an effort to modernize the country’s aging air traffic control systems. The $12.5 billion that is appropriated in both versions of the package will be a strong down payment towards ensuring that the U.S. maintains its reputation as a global leader in air travel. Lawmakers need to work out the remainder of their differences so the legislation can be swiftly pushed over the finish line.”

    CTIA—The Wireless Association President and CEO Ajit Pai: “CTIA applauds the Senate for passing the One Big Beautiful Bill, which includes a solid spectrum pipeline and smart tax provisions to support wireless investment. Along with restoring FCC auction authority, establishing a robust 800-megahertz pipeline of mid-band spectrum with a specific timeframe for action is critical to meeting growing consumer demand, securing U.S. leadership in 5G, and strengthening national and economic security.  The bill’s targeted tax incentives will accelerate private investment in next-generation networks and support infrastructure deployment, job creation, and economic growth across the country. We thank Senate leadership, including Senate Majority Leader John Thune, Senate Commerce Committee Chairman Ted Cruz, and Senator Marsha Blackburn for their commitment to securing America’s wireless future, and we urge swift action to pass this legislation so President Trump can sign it into law.”

    Concerned Veterans for America Executive Director John Vick: “This legislation represents a win for American families, small businesses, and veterans across the country―groups that form the backbone of a thriving and resilient nation. This is a monumental moment for Americans who believe in hard work, opportunity, and service. The One Big Beautiful Bill Act sets the stage for lasting prosperity and a stronger future for those who have sacrificed the most.”

    Global Business Alliance President and CEO Jonathan Samford: “I applaud Chairman Mike Crapo, Leader John Thune and their Senate colleagues for advancing international tax policies that keep the U.S. the top destination for global investment. These provisions will help sustain American jobs, drive innovation, and reinforce a stable tax environment that attracts cross-border capital and world-class know-how. I urge swift House action and final passage of this One Big Beautiful Bill Act in order to secure America’s competitive edge.”

    Iowa Biodiesel Board Executive Director Grant Kimberley: “These improvements to the biomass-based diesel tax incentive come at a pivotal moment for the industry, which has seen months of uncertainty, stalled production and investment hesitation. Together with EPA’s proposed increase in Renewable Fuel Standard volumes—projecting more than 2 billion additional gallons of biomass-based diesel in 2026—the tax developments point to a significant resurgence in clean fuel demand. This gives us much-needed certainty for the near future.”

    Information Technology Industry Council President and CEO Jason Oxman: “The One Big Beautiful Bill will advance President Trump’s vision of ensuring America outpaces global competitors and remains the world’s leader in technology. We’re pleased to see the Senate pass the reconciliation text with strong innovation-focused language that will empower companies to invest in America by restoring critical research and development expensing and stimulate economic growth and high-skilled job creation. We urge the House of Representatives to send this critical package to President Trump as quickly as possible.”

    Job Creators Network CEO Alfredo Ortiz: “By passing this tax cut bill, Republican Senators show once again that they are the party of Main Street. By expanding and making permanent the Tax Cuts and Jobs Act, including restoring full, immediate expensing, the Senate has delivered historic, pro-growth reform that can last for generations. These tax cuts empower small business owners to invest, hire, raise wages, and reinvest in their communities, ushering in America’s next Golden Age. On behalf of Main Street, JCN calls on the House to quickly pass this legislation and get it to President Trump’s desk by July 4, giving America the best birthday present it could ask for.”

    National Association of Home Builders Chairman Buddy Hughes: “NAHB commends the Senate for passing the One Big Beautiful Bill Act. This legislation will help spur economic growth and allow our members to invest more resources in multifamily rental construction, land development to build more single-family homes, and new equipment to expand their businesses. In turn, this will create a better business climate that allows builders to increase the nation’s housing supply, which is crucial to help ease America’s housing affordability crisis. We urge the House to move quickly to pass this bill.”

    National Association of Manufacturers President and CEO Jay Timmons: “The Senate just pushed the ball deep into the red zone. Now it’s the House’s turn to finish the drive and deliver a big win for manufacturers in America. The Senate advanced a tax package that will strengthen small businesses, family-owned operations and manufacturing workers across the country. It drives manufacturers closer to the goal line—growing businesses, creating jobs and powering stronger communities. After months of driving, months of endurance and effort, months of playing audacious offense and tenacious defense, months of partnership between manufacturers of every industry and our leaders in Congress and the administration, the House now can finish the job. We call on our partners in the House to send this bill to the president’s desk—the strongest tax bill for manufacturers we have seen in a generation. Because when Congress champions the 13 million people who make things in America, manufacturing wins—and when manufacturing wins, America wins.”

    National Business Aviation Association President and CEO Ed Bolen: “We thank the Senate for recognizing with this initial funding that a safe and efficient national airspace requires a robust, resilient ATC system that bolsters our nation’s global aviation leadership. As leading economists have found, immediate expensing helps companies and entrepreneurs relying on business aviation have access to a critical competitive asset, while strengthening America’s manufacturing base. These provisions represent an important investment in an essential American industry, and the citizens, companies and communities that depend on it. NBAA looks forward to their continued progress.”

    National Cattlemen’s Beef Association SVP of Government Affairs Ethan Lane: “The Senate version of the One Big Beautiful Bill protects family farmers and ranchers across the country from a massive tax hike at the end of the year, increases the Death Tax exemption, makes the Section 199A tax deduction permanent, increases the Section 179 tax deduction, funds foreign animal disease prevention programs, and delivers so many more wins for cattle producers … It’s time for the House to pass this bill and send it to President Trump’s desk so he can sign it into law.”

    National Corn Growers Association President Kenneth Hartman, Jr.: “NCGA has worked closely with members of Congress as they drafted and voted on this legislation. We are particularly pleased to see the permanent extension of certain tax provisions, which will provide more certainty to corn farmers around the country as they plan for the future of their businesses.”

    National Cotton Council Chairman Patrick Johnson: “The NCC appreciates the momentous effort that has gone into crafting and passing the One Big Beautiful Bill. We are grateful for the Senate’s commitment to delivering meaningful enhancements to the cotton safety net, which is absolutely critical for the stability and future of our industry.”

    National Council of Farmer Cooperatives President and CEO Chuck Conner: “We commend the Senate for advancing permanent tax relief through the extension of Section 199A, a key priority for farmer co-ops that ensures they are not penalized for doing business together. Equally important are the provisions extending Section 179 expensing and the clean fuel production credit under Section 45Z, which provide producers and co-ops with the incentives and tools they need to innovate, invest, and lead the transition to a more sustainable agricultural future. We also appreciate the Senate’s attention to the needs of production agriculture by updating reference prices and commodity title support to reflect today’s economic realities. Combined with a significant increase in funding for market development programs, these provisions will help producers reach new markets and stay competitive amid global uncertainty. Now, it’s time for the House of Representatives to act. We urge lawmakers to take up the Senate package without delay and send it to the president’s desk before the July 4th recess. America’s farmers can’t afford to wait.”

    National Council of Textile Organizations President and CEO Kim Glas: “On behalf of the U.S. textile industry, I would like to commend Senate leaders for including an important provision in the broader budget reconciliation bill that would permanently end de minimis for commercial shipments from all countries, effective July 2027. The Senate language mirrors a provision included in the House reconciliation package passed earlier in May … We are also grateful that the Trump administration has already used executive authorities to end de minimis access for Chinese goods—which represent approximately two-thirds of all de minimis shipments—while also laying the groundwork to close de minimis to commercial shipments from all countries.”

    National Foreign Trade Council VP for International Tax Policy Anne Gordon: “We welcome Senate passage of the One Big Beautiful Bill … We welcome the Senate’s decision to retain core international and business provisions of the Tax Cuts and Jobs Act in its version of the bill, as well as including permanent immediate expensing of research and development and reinstating depreciation and amortization in the interest deduction limitation. We are also pleased to see the Senate make permanent the look-through for controlled foreign corporations and provide other long-needed international tax fixes for U.S. corporations. As the House considers the revised bill, we encourage swift consideration and passage of tax legislation that incentivizes investment, innovation, and global opportunity for America’s job creators.”

    National Milk Producers Federation President Gregg Doud: “Dairy farmers are grateful for legislation that will create several key opportunities for dairy. Following last month’s successful vote in the House, we are excited that the Senate’s legislation also positions these investments to benefit dairy farmers and the cooperatives they own. We hope they are enacted into law as swiftly as possible.”

    National Mining Association President and CEO Rich Nolan: “We urge the House to quickly pass this bill, which increases the competitiveness of the American mining industry and provides vital incentives, including funding to counter China’s mineral dominance. The bill also makes improperly withdrawn lands available for energy production, which is key to supplying a reliable electric grid capable of powering our nation’s future. Through these measures, the bill will directly support U.S. economic growth and security. Mining feeds and fuels virtually every American supply chain; a strong mining industry creates an equally strong foundation for every industry that depends on the products and energy we provide. More can be done, and the NMA will continue to advocate with Congress and the administration on ways to support additional domestic mining, and mineral production and processing.”

    National Pork Producers Council President Duane Stateler: “We appreciate the efforts of Agriculture Chair John Boozman and other Senate leadership to ensure key animal health provisions were included in the bill, along with tax and other measures important to agriculture. Foreign animal diseases (FADs) threaten not only the livelihoods of pork producers but also our food supply chain at large. We thank our congressional leaders for these important steps to help keep our pork supplies safe, secure, and affordable for American families.”

    National Restaurant Association EVP for Public Affairs Sean Kennedy: “This bill includes the most important pro-growth tax policies restaurant operators need to continue to power the national economy. The inclusion of permanent policies for 199A qualified business income deduction, full expensing of capital investments, and the return of depreciation and amortization in the calculation of business interest expense will give restaurant operators working capital to invest in their businesses and employees. We are also pleased to see the inclusion of policies like No Tax on Tips and Overtime that will benefit our workforce. We appreciate the work that has gone into getting this bill through the Senate and encourage the House to quickly pass it, sending it to the President for signature.”

    National Roofing Contractors Association CEO McKay Daniels: “This legislation is critical to providing certainty for all businesses to continue to invest in their employees and grow their companies. In particular, the bill is a huge win for ‘main street,’ family-owned and pass-through entities that represent 95% of all U.S. businesses and employ the majority of private-sector workers. Without passage of this legislation, our industry will face rising tax burdens and diminished global competitiveness. Congress must act now to secure a stable future for America’s job creators.”

    National Small Business Association President and CEO Todd McCracken: “NSBA applauds the Senate for passing H.R. 1, the One Big Beautiful Bill Act which includes NSBA’s #1 priority, permanency for the small-business tax rate cut in the form of the 199A Qualified Business Income deduction. Enacting this provision and several others—including reversing a very problematic change to the R&D tax deduction—is a major win for small business. As our nation celebrates Independence Day, I urge the House to pass the language approved in the Senate and give America’s small businesses the freedom and independence they need and deserve to keep their businesses thriving.”

    National Sorghum Producers Chair Amy France: “These are critical improvements that will help sorghum producers manage risk, plan for the future, and stay competitive. We’re grateful to Chairman Boozman and other leaders in the Senate Ag Committee who ensured these priorities were part of the final bill.”

    Nuclear Energy Institute President and CEO Maria Korsnick: “We applaud the U.S. Senate for advancing policies that recognize the important role of nuclear energy to achieve a reliable, affordable and increasingly clean energy system. The Senate version of the budget reconciliation bill restores the nuclear power production tax credit through 2032, and the tax credits for new nuclear generation through 2033, with transferability retained for both. The Senate version also preserves the viability of the Loan Program Office by extending the program’s authority and funding from 2026 to 2028, although the appropriation of $1B is less than available under current law. Maintaining the tax provisions in the Senate bill will continue to address economic hurdles and provide confidence to invest in today’s nuclear plants, while securing long-term, well-paying jobs. Further the bill allows us to continue down the path to achieve the Administration’s ambitious goals for deploying new, cutting-edge nuclear technologies that will meet the growing demand for more reliable energy.”

    Philanthropy Roundtable COO Elizabeth McGuigan: “Now more than ever, we need a strong, vibrant civil society. Government spending is shrinking – which is a good thing – and generous Americans are ready and willing to support causes and communities around the country. We’re especially grateful for the leadership of President Donald J. Trump, whose pro-growth, pro-America agenda continues to inspire strong economic stewardship. We encourage the House to pass the Senate bill quickly and without changes.”

    RATE Coalition Executive Director Dan Combs: “Today’s vote is a major win for workers, businesses, and the American economy as a whole. By preserving the 21 percent corporate tax rate, the Senate has reaffirmed its commitment to a competitive tax code that drives investment, fuels job growth, and ensures the U.S. remains the best country in the world to start and grow a business.  We applaud this strong, pro-growth action and urge lawmakers to expeditiously finalize the legislation and send it to President Trump’s desk without delay.”

    Small Business & Entrepreneurship Council President and CEO Karen Kerrigan: “We commend Republican Senate leaders for their tireless work in getting the ‘One Big Beautiful Bill Act’ to this critical stage for America’s small business owners and entrepreneurs. Their commitment to advancing this powerful package shows incredible dedication to the success of Main Street businesses across the country and to the future of U.S. entrepreneurship. Now, House members must focus on the widespread gains in the legislation for the U.S. economy, workers, families, and small business owners. We urge the House to promptly pass the bill so it can be signed by President Trump.”

    Steel Manufacturers Association: “Congratulations to the @SenateGOP for passing H.R. 1! The bill will make historic investments in Americans, our workers, our communities and our economy will all benefit.”

    The LIBRE Initiative President Daniel Garza: “We commend the Senate for passing H.R. 1 to make the Trump tax cuts permanent—measures that have proven to deliver real benefits to hardworking families, job creators, and entrepreneurs across the country. For Latinos—who are starting businesses at a notable rate and powering local economies—this bill is not just good policy, it’s essential.  By making the low tax rates and small business provisions permanent, this legislation helps ensure that Latino workers, small business owners, and families can thrive with greater certainty, flexibility, and opportunity. Tax relief allows families to keep more of what they earn, invest in their future, and weather economic uncertainty with confidence. We applaud the Senate for sending a clear message that the American Dream remains alive and within reach for all—especially those working hard to build a better life.”

    U.S. Chamber of Commerce EVP and Chief Policy Officer Neil Bradley: “With today’s vote, the Senate has taken decisive action to deliver the kind of permanent tax relief the American business community has been calling for. The tax provisions included in this bill will not only drive economic growth and sharpen America’s competitive edge but also put more money in workers’ pockets, increasing prosperity in communities across the country. The Chamber thanks Leader Thune, Chairman Crapo, and all who are working to make the pro-growth reforms of the 2017 Tax Cuts and Jobs Act permanent, including the deduction for domestic R&D expenditures, 100% bonus depreciation for certain business investments, and an expanded business interest limitation. The Chamber applauds the Senate for voting to make these provisions permanent features of the tax code. We urge lawmakers to swiftly pass the OBBBA and deliver it to President Trump to be signed into law.”

    USA Rice Farmers Chair LG Raun: “USA Rice applauds the Senate for passing the OBBB Act including a historic and critical investment in the farm safety net. We urge the House of Representatives to take up and pass this bill with the key ag investments before the 4th of July.”

    Wine & Spirits Wholesalers of America President and CEO Francis Creighton: “On behalf of the Wine & Spirits Wholesalers of America, I want to thank the United States Senate for passing President Trump’s One Big Beautiful Bill Act under Section 198A. This critical legislation empowers America’s family-owned wholesalers to reinvest, compete, and thrive. We urge the U.S. House to act swiftly and send this bill to the President’s desk without delay.”

    MIL OSI USA News

  • MIL-OSI: Ingersoll Rand Accelerates Value Creation Through Continued M&A, Announces New Acquisition

    Source: GlobeNewswire (MIL-OSI)

    • Continues the company’s disciplined capital allocation strategy of targeted bolt-on acquisitions and proven ability to build trusted, proprietary partnerships with family-owned businesses
    • Acquisition expands Ingersoll Rand competencies and capabilities in high-growth end markets
    • Purchase made at an attractive low-double-digit multiple with expected post-synergy multiple in the mid-to-high single digits

    DAVIDSON, N.C., July 01, 2025 (GLOBE NEWSWIRE) — Ingersoll Rand Inc., (NYSE: IR) a global provider of mission-critical flow creation and life science and industrial solutions, has acquired Termomeccanica Industrial Compressors S.p.A. (“TMIC”) and its subsidiary Adicomp S.p.A. (“Adicomp”) (collectively “TMIC/Adicomp”) with a purchase price of approximately €160 million.

    TMIC is an international leader in the design and production of air and gas compressors with over 100 years of experience and innovation. Its subsidiary Adicomp provides engineered-to-order (ETO) solutions in the renewable natural gas (RNG) industry. TMIC/Adicomp are based in Italy, with an existing presence in North America and recent expansion into Brazil and India, and improve the company’s RNG gas-ends and packaging presence. The businesses will join the Industrial Technologies and Services (IT&S) segment.

    “TMIC/Adicomp are leading businesses in their respective industries, and today we welcome them to Ingersoll Rand,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “These companies strengthen our core capabilities and broaden our service offerings, enabling us to deliver greater value to our customers while advancing our long-term growth strategy for shareholders. Additionally, these companies reflect the strength of our M&A flywheel and reaffirm our ability to partner with family-owned businesses on a proprietary basis.”

    About Ingersoll Rand Inc.

    Ingersoll Rand Inc. (NYSE: IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.

    Forward-Looking Statements
    This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to Ingersoll Rand Inc.’s (the “Company” or “Ingersoll Rand”) expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to,” “will continue,” “will likely result,” “guidance” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than historical facts are forward-looking statements.

    These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates, or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) adverse impact on our operations and financial performance due to natural disaster, catastrophe, global pandemics (including COVID-19), geopolitical tensions, cyber events, or other events outside of our control; (2) unexpected costs, charges, or expenses resulting from completed and proposed business combinations; (3) uncertainty of the expected financial performance of the Company; (4) failure to realize the anticipated benefits of completed and proposed business combinations; (5) the ability of the Company to implement its business strategy; (6) difficulties and delays in achieving revenue and cost synergies; (7) inability of the Company to retain and hire key personnel; (8) evolving legal, regulatory, and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; and (11) other risk factors detailed in Ingersoll Rand’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are available on the SEC’s website at http://www.sec.gov. The foregoing list of important factors is not exclusive.

    Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

    The MIL Network

  • MIL-OSI USA: Crypto Asset Exchange-Traded Products

    Source: Securities and Exchange Commission

    As part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets,[1] the Division of Corporation Finance is providing its views[2] on the application of certain disclosure requirements under the federal securities laws to offerings and registrations of securities by issuers of crypto asset exchange-traded products (“crypto asset ETPs”). Crypto asset ETPs are investment products that are listed and traded on national securities exchanges. They are typically structured as trusts that hold assets which consist of spot crypto assets or derivative instruments that reference crypto assets. These trusts are issuers of securities who must register their offerings and classes of securities under the Securities Act of 1933 (“Securities Act”) and Securities Exchange Act of 1934 (“Exchange Act”), respectively. Issuers of crypto asset ETPs[3] are also subject to the anti-fraud provisions of the federal securities laws. However, the crypto asset ETPs addressed in this statement are not registered as investment companies under the Investment Company Act of 1940.[4]

    The disclosures required in connection with offerings and registrations under the Securities Act and the Exchange Act protect investors, facilitate capital formation, and promote fair, orderly, and efficient markets. In recent years, issuers have registered offerings of crypto asset ETPs under the Securities Act and registered classes of these securities under the Exchange Act. This statement reflects our observations regarding disclosure practices in our reviews of crypto asset ETP filings. It also addresses our views about certain specific questions that market participants have presented to the staff. While disclosures should be based on an issuer’s specific facts and circumstances, we believe that issuers may benefit from the identification of common issues we have observed during our reviews.

    This statement addresses our views about certain disclosure requirements set forth in Regulation S-K and Regulation S-X as they apply to Securities Act registration forms (such as Form S-1). This statement does not address all material disclosure items, and the disclosure topics addressed below may not be relevant for all issuers. Each issuer should consider its own facts and circumstances when preparing its disclosures. Each issuer also should consider whether it is permitted to provide “scaled disclosure” with respect to any applicable disclosure requirements.[5] Moreover, issuers should note that disclosure is not required where a particular disclosure requirement is not applicable.[6]

    Cover Page

    SEC rules require issuers to provide information on the outside front cover page of the prospectus related to the offering, including the offering price of the securities, the nature of any underwriting arrangements and the name(s) of the underwriter(s).[7] Crypto asset ETPs are required to disclose on the cover page the initial offering price of the securities. We have observed cover page disclosure identifying the initial authorized participant (“AP”)[8] or the initial purchaser as a statutory underwriter.

    Prospectus Summary

    SEC rules require issuers to provide a summary in plain English of the information in the prospectus where the length or complexity of the prospectus makes a summary useful.[9] In this summary, we have observed issuers that have identified those aspects of the offering that are the most significant and highlighted those points in clear, plain language, avoiding merely repeating the text of the prospectus.[10] Examples of disclosure we have observed in the prospectus summary include:

    • An overview of the trust, including a clear description of the investment objective of the trust and the tracking index or benchmark it plans to reference;
    • A description of the underlying crypto asset(s) and the associated network(s);
    • The issuer’s policies regarding the management of the underlying crypto asset(s), including any limitations on how they are held or used;
    • The issuer’s policies regarding any incidental rights associated with the underlying crypto assets(s), including forks, airdrops, or similar events; and
    • That the amount of underlying crypto assets per share held by the trust will decline over time as the crypto assets are sold to pay the trust’s fees and expenses.

    Risk Factors

    SEC rules require a discussion of the material factors that make an investment in the issuer and product speculative or risky.[11] The content and scope of an issuer’s risk disclosure will depend on the nature of the security, the issuer’s business, the underlying crypto asset(s), the tracking index or benchmark, and, if material, may include factors such as the characteristics of the security, limited rights of holders, insurance coverage, valuation and liquidity risks, technological risks, cybersecurity risks, and legal, regulatory and tax risks. Discussion of risks that could apply generically to any issuer is discouraged.[12] The following are examples of risks that have been disclosed:

    • Risks related to the underlying crypto asset(s) and crypto asset markets that pose a risk of investor losses, including price volatility, theft of private keys and other hacking incidents, and the risk of price volatility from other parts of the crypto asset markets;
    • Risks of fraud, manipulation, front-running, wash-trading, security failures or operational problems on crypto asset trading platforms;
    • Risks of attacks on the associated network(s) by malicious actors;
    • Risks of concentration of ownership in the underlying crypto asset(s);
    • Risks from loss of incentives for miners and validators of the underlying crypto asset(s);
    • Risks from other competing products that have already entered the market or that charge lower fees; and
    • Risks from APs and other service providers or counterparties providing services for competitors.

    Description of Business

    The Trust, Crypto Asset Prices, and Calculation of NAV

    SEC rules require issuers to provide a narrative description of the material aspects of their business.[13] Crypto asset ETPs generally provide disclosure regarding the trust’s assets, including the characteristics of the underlying crypto asset(s), and describe the applicable index or benchmark methodology, as well as the methodology to calculate net asset value (“NAV”).[14] Disclosure should be presented in clear, concise, and understandable language, without overly relying on technical terminology or jargon.[15] For example, to the extent applicable, we have observed disclosure that:

    Underlying Crypto Asset(s) and Associated Network(s)

    • Provides material information about the underlying crypto asset(s) and associated network(s), including information about the launch of the crypto asset(s) and the initial development team, the method of generating, minting or mining the crypto asset(s), the process for staking, locking and burning the crypto asset(s), the process for validating transactions, the consensus mechanism, use cases, and any fees associated with use of the crypto network(s) or applications;
    • Includes a discussion regarding the total supply of the underlying crypto asset(s) covering the amounts outstanding, issued and burned, the market capitalization for the crypto asset(s), whether there is a cap on supply and what the minting and burning schedule is, as well as material events impacting the supply of the crypto asset(s), such as halving events, modifications to the protocol, and any recent or planned forks; and
    • Describes the spot and/or futures markets for the underlying crypto asset(s), including how those markets are regulated.

    Index or Benchmark

    • Identifies and provides tabular disclosure for each constituent trading platform used to calculate the index or benchmark price, including market share and volume information;
    • Describes how the constituent trading platforms are selected and how the index or benchmark price is calculated;
    • Includes the composition and operation of any oversight committee; and
    • Specifies whether the sponsor has discretion to select a different index or benchmark and discusses whether and how the sponsor will notify investors of material changes to the index or benchmark.

    Calculation of NAV

    • Describes the methodology the trust will use to calculate NAV and the policies and procedures if the index or benchmark is unavailable or the sponsor elects not to rely on it;
    • If the methodology used to calculate NAV differs from the methodology used to determine the fair value of crypto asset holdings for GAAP purposes, provides a discussion of the differences between the two methodologies; and
    • Discloses whether the sponsor has agreements with any third parties for use of their valuation methodologies and whether the sponsor has a license to use a secondary index or benchmark.

    The Trust’s Service Providers, Custody of the Trust’s Assets, and Fees and Expenses

    SEC rules require disclosure of information material to an understanding of the issuer’s business,[16] which may include the extent to which the issuer’s business is materially reliant on third parties. Issuers generally rely on the services of a sponsor and several third-party service providers, including one or more crypto asset custodians. Issuers generally pay a fee to the sponsor of the trust that typically covers the issuer’s operating expenses. Issuers generally disclose the various fees and expenses payable to the sponsor and third-party service providers. Additionally, issuers are required to file as exhibits to the registration statement material contracts not made in the ordinary course of their business, or in the case of ordinary course contracts, those on which they are substantially dependent, except where immaterial in amount or significance.[17] In this regard, we have observed issuers providing the following to the extent applicable:

    The Trust’s Service Providers

    • Identifying the APs, describing the material terms of the AP agreement, and filing the agreement as an exhibit to the registration statement;
    • Identifying any counterparties contracted to assist in the purchase and sale of the underlying crypto asset(s), describing the material terms of any agreement with such parties, disclosing the extent of any affiliations or material relationships between the counterparties and the APs, discussing the criteria for engaging the counterparties, and filing any material agreements as exhibits to the registration statement; and
    • To the extent the trust has an agreement with a counterparty to provide financing for purchases and sales of the underlying crypto asset(s), disclosing the material terms of that arrangement, including the rate of interest, describing the mechanics of financing in connection with creation and redemption orders, and filing any material agreements as exhibits to the registration statement.

    Custody of the Trust’s Assets

    • Identifying and describing the material terms of their agreement(s) with the custodian(s);
    • Storage policies for private keys, including the use of cold, warm or hot storage, whether the issuer’s crypto assets are commingled or held in wallets with assets of other customers, and how transfers of crypto assets from cold, warm or hot storage occur;
    • Who will have access to the private key information and whether any entity will be responsible for verifying the existence of the crypto assets; and
    • Whether and to what extent the custodian carries insurance for any losses of the crypto asset(s) that it custodies for the issuer and to what extent insurance coverage is shared among the custodian’s customers and not specific to the issuer.

    Fees and Expenses

    • How the sponsor fee is calculated, which fees and expenses are assumed by the sponsor, and which fees are capped or otherwise not assumed by the sponsor;
    • The fee arrangements with third parties, including transaction fees and other expenses; and
    • Any arrangements for the sponsor fee or other fees to be paid using the trust’s underlying crypto asset holdings.

    Description of Securities

    SEC rules require a description of the issuer’s securities.[18] In describing the securities offered by the trust, issuers are required to disclose the circumstances under which shareholders have voting rights.[19] Examples of disclosure we have observed in this context include the following:

    • Any limitations or restrictions on voting rights;
    • Whether the rights of holders may be modified other than by a vote of a majority or more of the shares outstanding; and
    • How shareholders will be notified of material amendments to or termination of the trust agreement.

    Plan of Distribution

    SEC rules require disclosure of the plan of distribution of securities offered and sold in a registered offering.[20] Additionally, issuers conducting delayed or continuous offerings under Securities Act Rule 415 undertake to include in a post-effective amendment to the registration statement material information with respect to the plan of distribution not previously disclosed or any material change to that information included in the effective registration statement.[21] Among other information, issuers have provided the following information regarding the plan of distribution:

    • The mechanics of the creation and redemption process between the trust, the APs, the custodian(s), and any other third-party service providers, whether and to what extent creation and redemption orders will be settled onchain or offchain, and any risks associated with the settlement process;
    • The potential impact on the arbitrage mechanism from price volatility, trading volume, and price differentials across crypto asset trading platforms, and in the event crypto asset trading platforms are closed or otherwise unavailable; and
    • Whether and under what circumstances the sponsor may suspend creation and redemption orders and how the trust will notify shareholders if it has suspended creation and redemption orders.

    Directors, Executive Officers, and Significant Employees

    Management

    SEC rules require disclosure of information relating to the identity and experience of those entrusted with the management of the issuer, including executive officers, directors, and certain significant employees who make (or are expected to make) a significant contribution to the issuer’s business.[22] SEC rules also require such disclosure for persons who do not hold formal titles or positions as executive officers or directors but who perform policy-making functions typically performed by executive officers or perform similar functions as directors.[23] Crypto asset ETPs typically have a sponsor whose directors and executive officers perform functions similar to a board of directors and executive officers for the trust. To the extent that a sponsor performs policy-making functions, disclosure has been provided with respect to the directors, executive officers, or other employees of the sponsor performing such functions. Although disclosure regarding executive compensation of the issuer would not be applicable in this situation,[24] we have observed disclosure of the fees paid to the sponsor or third party for performing such functions, as discussed in “The Trust’s Service Providers, Custody of the Trust’s Assets, and Fees and Expenses” above.[25]

    Conflicts of Interest

    SEC rules require disclosure of material information about transactions with related persons and policies and procedures related to the review, approval, or ratification of transactions with related persons.[26] Issuers have disclosed existing and potential conflicts of interest between the sponsor and its affiliates and the trust, including the following:

    • Whether the sponsor or any insiders hold the underlying crypto asset(s) or have crypto asset-related exposure that could create conflicts of interest;
    • Whether the trust has a code of conduct or other requirements for pre-clearance of transactions in the underlying crypto asset(s) that apply to its employees, the sponsor, or any of its affiliates; and
    • The sponsor’s experience sponsoring other exchange-traded products and its specific experience in crypto asset markets.

    Financial Statements

    We have observed that some issuers are organized as statutory trusts or limited partnerships that are registering the offer and sale of beneficial units or limited partnership interests in multiple series. In these instances, for purposes of SEC reporting, the staff has taken the position that the trust or partnership should be treated as the sole registrant, not the individual series.[27] However, the staff has also taken the position that in addition to providing financial statements of the trust or partnership, issuers should provide separate financial statements of each individual series. Issuers have separately provided, prepared, or evaluated, as applicable, the following for the sole registrant and for each series:

    • Separate financial statements and audit reports;
    • Separate interim financial statements; and
    • Separate assessments of materiality for Regulation S-K and Regulation S-X purposes, including Regulation S-X Rules 3-05, 3-09 and 4-08.

    Filing Fee Tables

    Issuers electing to register the offering of an indeterminate number of exchange-traded vehicle securities[28] in reliance on Securities Act Rules 456(d) and 457(u) should be aware that the EDGAR fee tag for “Type of payment” is “2” and the EDGAR “Security type” is “Exchange-Traded Vehicle Securities.” Failure to include these tags may prevent the issuer from being able to file a form of prospectus under Securities Act Rule 424(i) and pay its registration fee not later than 90 days after the end of any fiscal year during which it has publicly offered securities.

    Contacting the Division

    The Division welcomes questions about the application of the SEC’s disclosure rules to offerings and registrations of crypto asset ETPs, as well as any ongoing reporting obligations. We also welcome requests for other assistance (including requests for interpretive or no-action letters) relating to these issues and questions. Information about how to contact the Division is available on our website.[29]


    [1] For purposes of this statement, a “crypto asset” is an asset that is generated, issued, and/or transferred using a blockchain or similar distributed ledger technology network (“crypto network”), including, but not limited to, assets known as “tokens,” “digital assets,” “virtual currencies,” and “coins,” and that relies on cryptographic protocols. References in this statement to “network” refer to a crypto network, and references to “application” refer to an application running on such a crypto network.

    [2] This statement represents the views of the staff of the Division of Corporation Finance (the “Division”). It is not a rule, regulation, exemption, guidance, or statement of the U.S. Securities and Exchange Commission (“Commission” or “SEC”), and the Commission has neither approved nor disapproved its content. This statement, like all staff statements, has no legal force or effect: it does not alter or amend applicable law, and it creates no new or additional obligations for any person.

    [3] For brevity, we refer to crypto asset ETP issuers as “issuers” in this statement.

    [4] As a result, these crypto asset ETPs are not subject to the requirements of the Investment Company Act of 1940, such as the legal requirements related to valuation and custody of fund assets.

    [5] Scaled disclosure refers to disclosure accommodations that the federal securities laws sometimes provide for smaller or newly public companies, such as smaller reporting companies, non-accelerated filers, or emerging growth companies. These accommodations apply to a qualifying company’s registered offerings and its ongoing public company reporting. Scaled disclosure permits these companies to provide less extensive disclosure than other companies.

    [6] See, e.g., Rule 404(c) under the Securities Act and General Instruction II.B. of Form S-1. For example, disclosure regarding properties only is required where issuers have material physical properties. See Item 102 of Regulation S-K.

    [7] See Item 501(b) of Regulation S-K.

    [8] APs are financial intermediaries that provide liquidity for crypto asset ETPs by facilitating the creation and redemption of shares (often referred to as creation and redemption units or creation and redemption baskets). APs place orders to create and redeem baskets.

    [9] See Item 503 of Regulation S-K.

    [10] See Instruction to paragraph 503(a) of Item 503 of Regulation S-K.

    [11] See Item 105 of Regulation S-K.

    [13] See Item 101 of Regulation S-K.

    [14] NAV of a crypto asset ETP is the trust’s total assets minus its total liabilities.

    [15] See Securities Act Rule 421(b).

    [16] See, e.g., Items 101(c) and 101(h) of Regulation S-K.

    [17] See Item 601(b)(10) of Regulation S-K.

    [18] See Item 202 of Regulation S-K.

    [19] See Item 202(d) of Regulation S-K.

    [20] See Item 508 of Regulation S-K.

    [21] See Securities Act Rule 415(a)(3); Item 512(a)(1) of Regulation S-K; and Part II, Item 17 to Form S-1 and Part II, Item 17 to Form S-3.

    [22] See Item 401 of Regulation S-K.

    [23] See Securities Act Rule 405. Disclosure is not required where a particular disclosure requirement is not applicable, or the issuer otherwise does not have responsive information. For example, crypto asset ETPs do not have a board of directors and, therefore, do not provide disclosure regarding members of a board of directors.

    [24] See Item 402 of Regulation S-K.

    [25] See Item 404 of Regulation S-K.

    [26] See Item 404 of Regulation S-K.

    [27] See Securities Act Sections Compliance and Disclosure Interpretations, Question 104.01. Compliance and disclosure interpretations reflect the views of the staff of the Division of Corporation Finance. They are not rules, regulations, or statements of the Commission. The Commission has neither approved nor disapproved these interpretations.

    MIL OSI USA News

  • MIL-OSI: Abacus Global Management Sues Coventry and its Chairman Alan Buerger for Defamation and Anticompetitive Conduct

    Source: GlobeNewswire (MIL-OSI)

    Coventry and Chairman Alan Buerger Engaged in Years-Long Campaign to Systematically Disseminate False and Misleading Information About the Publicly-Traded Company

    Coventry and Buerger Found a Key Partner and Megaphone for its Defamatory Statements: Short Seller Morpheus Research

    ORLANDO, Fla., July 01, 2025 (GLOBE NEWSWIRE) — Abacus Global Management, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leader in the alternative asset management space, today provided the following statement:

    Coventry First LLC, parent company of life settlements provider Coventry Direct (“Coventry”), and its Chairman Alan Buerger engaged in a concentrated effort to manipulate market sentiment about its biggest competitor, Abacus Global Management, through a systematic campaign to disseminate false and misleading statements about Abacus to regulators, auditors, market analysts, customers, investors and the public, causing confusion, concern, and financial injury to Abacus, its clients, and its shareholders, according to a lawsuit filed last night by Abacus in Florida’s Ninth Circuit Court.

    The lawsuit alleges that a short report published by Morpheus Research on June 4, 2025 was Coventry’s latest attack on Abacus. Coventry will be responsible for hundreds of millions of dollars in damages should Abacus prove that Morpheus was acting as Coventry and Buerger’s willing partner and megaphone for the same defamatory statements Coventry was circulating about Abacus’ valuation methodology, statements regulators and market makers had ignored for months.

    The lawsuit details a multi-year effort by Coventry and its Chairman and founder, Alan Buerger, to cast doubt on Abacus’ valuation practices and stock price. Unable to compete with Abacus’ transparent pricing model and performance, Coventry and Buerger devised a scheme to undermine Abacus through false and misleading statements to convince the market that Abacus pays policyholders too much for their policies, causing an overvaluation of Abacus’ assets. This is more than idle talk: they have tried to convince anyone who will listen that the biggest threat to Coventry’s business is in fact illegitimate. 

    “This isn’t about competitive practices or even good faith criticism of a competitor’s business model – they clearly crossed the line into tortious interference and defamation,” said Abacus Global Management CEO Jay Jackson. “They’re losing market share to Abacus because we offer policyholders better terms and more transparent pricing, so instead of competing on product, they chose to try to manipulate markets by damaging Abacus’ reputation, confusing its customers, and undermining investor confidence with false statements. We’ve built a successful business through our fierce commitment to transparency – and we are going to fight back.”

    The lawsuit details the fundamental flaw at the center of Coventry’s false claims: Abacus buys policies from individuals​​ and sells them to investors. When the policies are sold to investors, who conduct their own evaluation of the policies’ value, the sale price consistently exceeds Abacus’ valuations. In short, the market is thoroughly and indisputably corroborating the value of Abacus’ assets and debunking Coventry’s central premise.

    “Coventry’s core claim is that top-tier investors like KKR are overpaying for life insurance policies—policies they’ve purchased from Abacus repeatedly over many years,” continued Abacus CEO Jackson. “Coventry essentially argues that they and Alan Buerger, with their less than sterling reputation, are more sophisticated investors than these major institutional firms. This claim is clearly absurd.”

    Coventry’s claim “deliberately ignores Abacus’ consistent and legally mandated disclosures that its publicly-traded balance sheet is valued ‘under the fair value method’ – that is, market price,” according to the filing.

    To convince the market that Abacus is not properly valuing its policies, Coventry targeted one of the six life expectancy estimate organizations Abacus uses, Lapetus Solutions. Coventry, and in particular Buerger, have “intentionally made false and misleading statements about Lapetus” through “purportedly independent but paid studies” that claim to show Lapetus systematically underestimates life expectancy. Coventry spread these false claims “across a wide range of audiences, each deliberately chosen to inflict maximum harm on Abacus,” including presenting its lies to: Abacus’s auditor, Grant Thornton; TD Securities, a market analyst tracking Abacus’ stock; the Securities and Exchange Commission (“SEC”) and included the defamatory claims about Abacus in a lawsuit against the Florida Office of Insurance Regulation (“OIR”).

    Coventry claims Abacus is using Lapetus to value the policies it holds on its balance sheet, thereby inflating the value of each policy based on inaccurate life expectancy estimates. But as the lawsuit explains, quoting public filings, Abacus has repeatedly disclosed that it “does not use a life expectancy valuation model to value the policies,” rendering the entire accusation meritless. Separately, Abacus uses Lapetus as one of six life expectancy provider inputs when determining the price it will pay seniors for their policies, and not to derive its balance sheet valuations. If Coventry is correct that Lapetus is underestimating life expectancy, then it means Abacus is simply overpaying senior citizens for their policies.

    Abacus alleges that Coventry and Buerger recently “took these insinuations to the next level” when Buerger gave an interview, on the Tegus expert network platform, in which he accused Abacus of “manufactur[ing] earnings,” said that its “stockholders…will be subordinated to the asset-backed debt, which is to say they will all be wiped out when this thing goes upside down,” falsely repeating that Abacus, was “us[ing] Lapetus…primarily,” and predicting, “it’s just a matter of time before [Abacus] implodes.”

    The reality, found in the lawsuit filed today, is Abacus’s financial statements and internal controls over financial reporting have been found “in compliance with GAAP by a respected public company auditor in every annual audit,” that Abacus “has zero asset-backed debt” that can layer other investors in its capital structure, and that Abacus does not use Lapetus “to value the assets on its balance sheet, nor has it ever done so.”

    Coventry and Buerger also solicited “multiple short sellers to write a hit piece on Abacus, regurgitating the same false claims about Lapetus and Abacus’s valuation” with at least one prominent short seller who turned them down, noting “that senior citizens are making too much money off of selling their insurance policies is not a compelling story.”

    But eventually, Coventry and Buerger found a willing partner and megaphone for its defamatory statements: short seller Morpheus Research.

    Buerger’s interview was released to investors for the first time on June 4, 2025, 90 minutes before markets opened. Three hours later, Morpheus Research issued a short report that quoted Buerger’s most inflammatory accusations and heavily cited Coventry’s “research” on Lapetus.

    Within minutes, Abacus stock (NASDAQ: ABL) dropped more than 21%, erasing more than $200 million in market capitalization, based on well-trafficked lies.

    The lawsuit alleges Morpheus was acting as Coventry’s and Buerger’s willing partner and megaphone for the same defamatory statements about the Abacus valuation methodology, which regulators and market makers had ignored for months. The short report from Morpheus “parrots the same or similar false and misleading statements that Coventry had previously peddled.” As Morpheus acknowledges, one of its “sources” for the report includes “Abacus competitors,” a.k.a. Coventry, and ​​Morpheus timed the report to coincide with the release of Buerger’s Tegus interview.

    In the wake of Buerger’s interview and the report from Morpheus Research, Abacus is fielding questions from investors “parroting the points Coventry has been shilling for over a year,” and Buerger is “communicating directly with Abacus investors, and disseminating his misleading study of Lapetus.”

    The filing notes: “Coventry’s relentless campaign against Abacus has caused substantial harm to the company and its shareholders. Coventry’s false narrative attempts to project its own financial vulnerabilities onto Abacus, but the facts demonstrate otherwise. The market analysts who came to Abacus’ defense after the short report recognize the truth: Abacus’ transparent approach is a ray of sunshine in an otherwise beleaguered industry, and that explains its rapid rise.”

    Further, the lawsuit details how Coventry is “the poster child” for unsavory behavior in the industry, including:

    • Bid-rigging charges from the New York Attorney General;
    • Settling a multi-billion-dollar fraud case brought by AIG;
    • A Florida Office of Insurance Regulation investigation and a subsequent consent order requiring Coventry to adopt a remedial business plan;
    • A federal Court of Appeals characterized Coventry’s policy origination practices as “illegal”; and how
    • Coventry has been a leading player in Stranger-originated life insurance (STOLI), a practice widely viewed as illegal, and the SEC has noted the practice “​​may encourage fraud”, and multiple states have banned the practice.

    Abacus is represented in the lawsuit by Quinn Emanuel Urquhart & Sullivan LLP. Abacus is seeking hundreds of millions in damages, some of which are still accruing, from the harms to its reputation, its customer base, and its relationships with current and potential investors.

    The full filing can be read here.

    Contacts:
    Investor Relations
    Robert F. Phillips – SVP Investor Relations and Corporate Affairs
    rob@abacusgm.com
    (321) 290-1198

    David Jackson – Director of IR/Capital Markets
    david@abacusgm.com
    (321) 299-0716

    Abacus Global Management Public Relations
    press@abacusgm.com

    The MIL Network

  • MIL-OSI: Nasdaq Announces the Board of Directors of its U.S. Exchanges

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) today announced the election of all nominated directors to the boards of the U.S. exchanges operated by the company, which include The Nasdaq Stock Market LLC, Nasdaq PHLX LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq MRX, LLC, and Nasdaq GEMX, LLC:

    • Kathlyn Card Beckles, Chief Legal Officer, Verisk Analytics, Inc.
    • Michael J. Curran, Retired Chairman and CEO, Boston Stock Exchange
    • Anne Marie Darling, Group Co-Chief Operating Officer and Barclays Execution Services Co-Chief Executive Officer, Barclays
    • Kevin Kennedy, EVP, North American Markets, Nasdaq
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Anita Lynch, Former Chief Data Officer, New Relic, Inc.
    • David Rosato, Chief Financial Officer & Treasurer, Eastern Bancshares
    • Andrew J. Schultz, Head of Strategic Options Business, The Susquehanna International Group of Companies
    • Elizabeth Wideman, SVP and Senior Deputy General Counsel, Comcast Corporation
    • Thomas A. Wittman, Retired EVP and Head of Global Trading and Market Services, Nasdaq

    For further governance information, visit: http://ir.nasdaq.com/corporate-governance/nasdaq-stock-market/board-of-directors.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Relations Contact:

    Chris Hayden
    +1.301.523.5829
    Christopher.Hayden@nasdaq.com

    Investor Relations Contact

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network

  • MIL-OSI: Nasdaq Announces the Board of Directors of its U.S. Exchanges

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) today announced the election of all nominated directors to the boards of the U.S. exchanges operated by the company, which include The Nasdaq Stock Market LLC, Nasdaq PHLX LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq MRX, LLC, and Nasdaq GEMX, LLC:

    • Kathlyn Card Beckles, Chief Legal Officer, Verisk Analytics, Inc.
    • Michael J. Curran, Retired Chairman and CEO, Boston Stock Exchange
    • Anne Marie Darling, Group Co-Chief Operating Officer and Barclays Execution Services Co-Chief Executive Officer, Barclays
    • Kevin Kennedy, EVP, North American Markets, Nasdaq
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Anita Lynch, Former Chief Data Officer, New Relic, Inc.
    • David Rosato, Chief Financial Officer & Treasurer, Eastern Bancshares
    • Andrew J. Schultz, Head of Strategic Options Business, The Susquehanna International Group of Companies
    • Elizabeth Wideman, SVP and Senior Deputy General Counsel, Comcast Corporation
    • Thomas A. Wittman, Retired EVP and Head of Global Trading and Market Services, Nasdaq

    For further governance information, visit: http://ir.nasdaq.com/corporate-governance/nasdaq-stock-market/board-of-directors.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Relations Contact:

    Chris Hayden
    +1.301.523.5829
    Christopher.Hayden@nasdaq.com

    Investor Relations Contact

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network

  • MIL-OSI Africa: Jobs boost as the United Kingdom (UK) and Kenya bolster economic and security partnership


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    • Trade and investment deals agreed during the visit will contribute over £1bn to the UK economy and create UK jobs in engineering, defence industries, technical and advisory services, and financial services 
    • The UK and Kenya will also increase collaboration to tackle organised crime, human trafficking and illicit finance through the UK-Kenya Security Compact 
    • The UK and Kenya will commit to a new Strategic Partnership as Kenyan President Ruto visits London

    The UK and Kenya will commit to working together to drive economic growth, protect climate and nature, foster collaboration in science and technology and strengthen regional security. 

    During a visit to the UK by the President of Kenya, a pipeline of trade and investment deals worth over £1bn to the UK economy were agreed which will deliver on this government’s commitment to boost jobs and prosperity back in the UK, as part of the government’s Plan for Change. 

    This includes the launch of a tender for a major urban redevelopment project in Nairobi which has been inspired by the regeneration of London’s Kings Cross.

    The Nairobi Railway City project has already provided opportunities to UK businesses with British architecture firm Atkins UK chosen to design the central rail station and public square.

    The Government of Kenya is exploring funding the project through finance mobilised by the UK’s Export Credit Agency, UK Export Finance, which will create UK jobs in engineering, technical and legal services. 

    Both countries also agreed stronger cooperation to disrupt the air, land and sea routes used by organised crime groups to prevent illegal migrants transiting through Kenya in attempts to reach Libya and other countries before travelling on to Europe. Four of the top ten countries for Small Boat arrivals in the UK are near neighbours of Kenya (Eritrea, Sudan, Somalia and Ethiopia).

    Foreign Secretary, David Lammy, said:

    “Through our shared history and values the UK and Kenya have always had a close connection.”

    “Now we are building a shared future; a modern, innovative and respectful partnership which is delivering real benefits – boosting growth and creating jobs for both Kenyans and the British people. We’re going far, together.”

    The UK and Kenya have also committed to increased defence and counter terrorism collaboration, including joint training and the creation of a new counter insurgency, terrorism and stability operations centre.

    Defence sales worth over £70m were agreed during the visit supporting manufacturing jobs in County Durham, Northamptonshire and Surrey. Kenya hosts the UK’s most significant military footprint in Africa, including a facility that trains 3,000 UK troops a year. 

    The UK’s world leading financial services sector will also benefit; Lloyd’s of London will announce today that they will be joining the Nairobi International Finance Centre, which will deepen the partnership between two leading financial centres providing access to up to £500m of insurance market potential in Kenya and the East Africa region. 

    The two countries also committed to explore the potential of a bilateral digital trade agreement. Dubbed ‘Silicon Savannah’, the value of Kenya’s tech sector is projected to reach £11.5bn by 2032.

    A digital trade agreement will open up opportunities in the sector for UK Plc.

    Distributed by APO Group on behalf of United Kingdom Foreign, Commonwealth and Development Office.

    MIL OSI Africa

  • MIL-OSI Europe: REPORT on the future of the EU biotechnology and biomanufacturing sector: leveraging research, boosting innovation and enhancing competitiveness – A10-0123/2025

    Source: European Parliament

    MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

    on the future of the EU biotechnology and biomanufacturing sector: leveraging research, boosting innovation and enhancing competitiveness

    (2025/2008(INI))

    The European Parliament,

     having regard to the Treaty on the Functioning of the European Union (TFEU), in particular Articles 9, 151, 152, 153(1) and (2) thereof, as well as Articles 173 and 179 thereof, which concern EU industrial policy and research and refer to, among other things, the competitiveness of the Union’s industry and the strengthening of the Union’s scientific and technological bases,

     having regard to the Treaty on European Union, in particular Article 5(3) thereof and Protocol No 2 thereto on the application of the principles of subsidiarity and proportionality,

     having regard to the Commission communication of 20 March 2024 entitled ‘Building the future with nature: Boosting Biotechnology and Biomanufacturing in the EU’ (COM(2024)0137),

     having regard to the report by Mario Draghi of 9 September 2024 entitled ‘The future of European competitiveness’,

     having regard to the Commission communication of 29 January 2025 entitled ‘A Competitiveness Compass for the EU’ (COM(2025)0030),

     having regard to the Commission communication of 26 February 2025 entitled ‘The Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation’ (COM(2025)0085),

     having regard to the Commission communication of 11 December 2019 entitled ‘The European Green Deal’ (COM(2019)0640),

     having regard to the report by Enrico Letta of 10 April 2024 entitled ‘Much more than a market’,

     having regard to the Commission communication of 19 February 2025 entitled ‘A Vision for Agriculture and Food – Shaping together an attractive farming and agri-food sector for future generations’ (COM(2025)0075),

     having regard to Rule 55 and Rule 148(2) of its Rules of Procedure,

     having regard to the report of the Committee on Industry, Research and Energy (A10-0123/2025),

    A. whereas the EU biotechnology and biomanufacturing sector has been recognised as one of 10 strategic technology sectors for Europe’s competitiveness, economic security and sustainability; whereas the sector is characterised by very high productivity, growth and employment, and delivers globally competitive, cutting-edge solutions in healthcare, life sciences, industrial production and transformation, sustainable biomanufacturing, energy and food security; whereas biotechnology and biomanufacturing are important enablers of the bioeconomy at large; whereas biotechnology and biomanufacturing can help enhance the EU’s strategic autonomy, resilience and circularity by reducing industry’s dependency on fossil-based input and other external dependencies in various sectors; whereas the biotechnology and biomanufacturing sector still faces regulatory and financial obstacles and an incomplete internal market; whereas the Commission is expected to present an EU biotech act, an updated EU bioeconomy strategy, an EU life sciences strategy, an EU innovation act and an EU circular economy act;

    B. whereas according to the Organisation for Economic Co-operation and Development (OECD), biotechnology is defined as the application of science and technology to living organisms, as well as parts, products and models thereof, to alter living or non-living materials for the production of knowledge, goods and services; whereas biomanufacturing is not clearly defined and the Commission should therefore propose such a definition; whereas a definition of biomanufacturing should be future-proof, open to scientific and technological developments, and technology neutral, so as to broadly encompass the use of biotechnology or other technologies for the production of bio-based material products and solutions including, but not limited to, chemical, mechanical or thermal processes;

    C. whereas the biotech and biomanufacturing industries have led the development and deployment of breakthrough innovations in healthcare, such as mRNA-based vaccines; whereas biotechnology processes can be used to manufacture active pharmaceutical ingredients and key manufacturing inputs for medicines;

    D. whereas the COVID-19 pandemic highlighted the importance of having robust raw material value chains and manufacturing capabilities within Europe, to ensure security of supply of critical products and to mitigate shortages, for example of essential medicines;

    E. whereas artificial intelligence (AI) can help drive biotechnology innovation – e.g. in personalised medicine and drug discovery – resulting in health and environmental benefits; whereas the use of AI in biotechnology can also present ethical challenges and risks, related to the protection of private data, which need to be addressed in order to maintain public trust and acceptance;

    F. whereas biotechnology is applied in various aspects of animal and plant-based agriculture and also indirectly, through its use in activities such as waste management;

    G. whereas biotechnology can strengthen the resilience of forests and, in the case of biomanufacturing, the forest sector can offer sustainably produced, renewable and recyclable raw materials that can be used in high-value innovative products, materials and applications;

    H. whereas the EU is a global leader in research and biomanufacturing capacity, yet its potential remains unexploited due to the lack of a sufficiently coordinated policy framework that enables the efficient scaling up of innovation, the attraction of investment and the commercialisation of new technologies; whereas the ‘one in, one out’ approach ensures that all burdens introduced by Commission initiatives are considered, and administrative burdens are offset by removing burdens of equivalent value in the same policy area at EU or Member State level; whereas Parliament has called for the EU’s research budget to be doubled; whereas EU private investment in research, development and innovation is lagging behind other major economies; whereas promoting investment in pioneering demo and commercial production plants can accelerate the commercialisation of EU innovation in the bio-based industries;

    I. whereas urgent, coherent and consistent action needs to be taken during the next few years to make the EU a world leader in biotechnology, biomanufacturing and life sciences effecting a bold level of change, in accordance with due process and supported by competitiveness checks and adequate funding;

    J. whereas lengthy and complex authorisation procedures, particularly concerning approval times, represent a competitive disadvantage for EU operators and drive project developers out of the EU, and hinder industrial deployment and growth;

    K. whereas current EU regulatory frameworks do not cater precisely to the specificities of bio-based products; whereas the existing regulatory authorisation processes for biotech products needs to be urgently addressed to ensure that the EU remains globally competitive; whereas an effective regulatory framework for conducting clinical research is essential for the competitiveness of the most innovation-intensive aspects of the EU’s pharmaceutical and biotechnology sectors; whereas the Commission should take account of the regulatory frameworks of non-EU countries leading in the biotechnology and biomanufacturing sector, in the context of existing and future EU legislation covering the industry, to ensure compatibility without lowering existing EU safety and environmental standards;

    L. whereas the EU’s biotechnology and biomanufacturing investment and venture capital ecosystem remains fragmented; whereas high energy prices, regulatory burdens, barriers, and a lack of available key feedstock, raw materials and components are limiting the ability of start-ups and other small and medium-sized enterprises (SMEs) to scale up, and limit large-scale deployment; whereas EU biomanufacturing capacity and supply chain resilience, including the availability of feedstock, are essential to reduce dependence on non-EU actors; whereas effective global supply chains – including strategic partnerships with reliable global actors – are also important to secure stable access to critical resources, avoid supply disruptions and foster continuous innovation in essential technologies;

    M. whereas bio-based feedstocks, such as sustainably sourced biomass, recycled waste and CO2 captured from biogenic sources, could be used as alternative feedstocks for the manufacturing of, for example, polymers, plastics, solvents, paints, detergents, cosmetics and pharmaceuticals, thereby contributing to EU emission reduction, resource efficiency and strategic autonomy; whereas the EU could further incentivise market demand and market uptake for sustainable bio-based products and materials;

    N. whereas it is vital to increase the use of sustainable bio-based raw materials as part of the means of reaching the EU’s 2050 climate targets; whereas biotechnology has the potential to transform the refinery and chemical industry towards biomanufacturing, thereby reducing greenhouse gas emissions, in line with the EU’s climate objectives;

    O. whereas biotechnology and biomanufacturing are regulated across many different regulatory frameworks; whereas current EU regulatory frameworks for biotechnology and biomanufacturing are inconsistent across sectors, creating legal uncertainty and slowing market access for innovative solutions; whereas the lengthy authorisation processes, particularly concerning approval times, need to be urgently addressed and improved, while maintaining a risk- and science-based approach, to compete with corresponding time frames outside the EU; whereas the use of regulatory sandboxes should be expanded to ensure that emerging technologies have a clear development pathway; whereas new EU-wide regulation in the form of an EU biotech act should be duly justified based on examples of concrete gaps and shortcomings in current legislation and implementation, focusing on the specificities of the industry;

    P. whereas a coherent, robust and future-proof intellectual property (IP) framework is essential, ideally resulting in economic, environmental and societal benefits;

    Q. whereas public awareness in the EU of biotechnology and biomanufactured products should be further strengthened, in order to boost public acceptance; whereas the ethical aspects of biotechnology should be considered; whereas stakeholder consultation plays a crucial role in shaping responsible and ethical biotechnology policies; whereas civil society can play an essential role in ensuring public trust;

    R. whereas the engineering of DNA and organisms is increasingly carried out in automated biofoundries, which produce a wealth of data and improved designs and knowledge of biological functions;

    S. whereas the EU’s regulatory framework needs to adequately address evolving risks, opportunities and responsibilities associated with the handling, trade and synthesis of biological material, particularly in the context of synthetic biology; whereas existing biosecurity gaps need to be addressed by the EU and through international cooperation;

    Criteria for a comprehensive EU biotech act

    1. Emphasises the growth potential of the European biotechnology and biomanufacturing sector and the need for the EU to remain world-leading in this field; underlines the commitment to the principles of better regulation and lawmaking, simplification and administrative burden reduction; underlines that the simplification of EU legislation must not endanger any of the fundamental rights of citizens, workers and businesses or risk regulatory uncertainty; believes that any simplification proposal should not be rushed and proposed without proper consideration, consultation and impact assessments; therefore asks the Commission, if it proposes a new EU-wide regulation in the form of an EU biotech act, to address concrete gaps and shortcomings in current legislation and implementation, and to present legislation that can be revised, simplified, streamlined, repealed and which reduces bureaucratic burdens, focusing on the specificities of the industry and maintaining relevant safety and security standards; asks that an EU biotech act adopt a comprehensive cross-sectoral scope and that it be accompanied by an impact and cost assessment, competitiveness checks as well as a comprehensive assessment by the Regulatory Scrutiny Board, taking due consideration of the impact on SMEs, start-ups and scale-ups, as well as the interaction with other relevant legislative and non-legislative initiatives, including proposals currently undergoing the co-legislative procedure;

    2. Recalls that according to the OECD, biotechnology is defined as the application of science and technology to living organisms, as well as parts, products and models thereof, to alter living or non-living materials for the production of knowledge, goods and services; notes, however, that biomanufacturing is not clearly defined and calls on the Commission to propose such a definition;

    3. Recommends streamlining and harmonising existing and upcoming initiatives relating to biotechnology and biomanufacturing, with the objective of strengthening the biotechnology and biomanufacturing industry through clear industrial and research and development (R & D) competences;

    4. Urges the Commission to ensure coherence and consistency across all initiatives and legislative measures that may affect biotechnology and biomanufacturing innovations and companies, especially start-ups and scale-ups;

    5. Calls on the Commission to ensure that any future relevant legislative initiatives have a broad enough scope to capture the width of the biotechnology and biomanufacturing industry and its full range of applications; recommends facilitating a fast and efficient uptake of biotechnology and biomanufacturing through clear regulatory frameworks;

    6. Calls on the Commission to implement measures within its structures in order to ensure coordination, coherence and complementarity across its relevant directorates-general, and to enable more efficient scale-up and commercialisation of research, development and innovation results; highlights the importance of efforts to improve policy coherence and coordination at national level;

    7. Calls on the Commission to take account of regulatory frameworks of non-EU countries leading in the biotechnology and biomanufacturing sector, in the context of existing and future EU legislation covering the industry, to ensure compatibility, where possible and without compromising consumer safety, and a level playing field for EU biotech companies competing internationally, and to learn from best practices from outside the EU without lowering existing EU standards;

    8. Calls on the Commission to present a report on the implementation of current legislation in the field of biotechnology and biomanufacturing, including identifying potential gaps and regulatory barriers hampering the growth of the industries applying these technologies and manufacturing processes, including barriers to improving the EU’s self-sufficiency in key feedstocks, raw materials and components; recalls the precautionary principle laid down in Article 191 TFEU; urges the Commission to share with Parliament the preliminary findings of its study on regulatory burden, in this regard, and the potential need to review legislation related to biotechnology and biomanufacturing; calls for a simplification of current requirements for the sector across regulatory frameworks to enable faster approval procedures and market access, while maintaining a risk- and science-based approach and avoiding regulatory uncertainty;

    9. Welcomes the recently launched Biotech and Biomanufacturing Hub; requests that the Commission provide further guidance to EU biotechnology and biomanufacturing companies and the Member States with regard to the Net-Zero Industry Act[1] and the new Clean Industrial Deal in terms of permitting and financing, and to consider the creation of supporting hubs, in order to improve guidance and advice to companies navigating through the regulatory framework;

    10. Calls on the Commission to urgently streamline, simplify and shorten the time required for authorisation procedures, particularly approval time frames, for biotechnology materials and products throughout their manufacturing- and life-cycles, and to facilitate the market uptake of bio-based solutions, including the provision of pre-authorisation guidance, while maintaining a risk- and science-based approach, particularly in the context of its regular review of EU agencies such as the European Food Safety Authority, the European Medicines Agency and the European Chemicals Agency; calls on the Commission to ensure that the relevant EU agencies are adequately resourced, to enhance their capacity for conducting authorisation procedures in a timely manner;

    11. Calls on the Commission to consider the possibility of a simplified approvals procedure for biotechnology products that have already been approved by trusted regulatory bodies in like-minded countries with EU-equivalent standards;

    12. Calls on the Commission to consider simplifying labelling practices, such as the use of QR codes, and ensure fair market conditions between biotechnology and other products, such as marketing and advertising, without compromising consumer safety or access to relevant consumer information;

    13. Recalls that harmonised, predictable, future-proof and internationally competitive IP and data protection rules for biotechnology and biomanufacturing patents are essential for the development of the industry, resilient supply chains and sustainable economic growth; underlines the importance of improving IP protection rules by longer terms for patented technologies to strengthen the EU’s competitiveness, foster innovation and the EU’s strategic autonomy, protect cutting-edge technologies, reward long-term investments, and support high-risk research; considers that a coherent, robust and future-proof IP framework is essential; welcomes, in this regard, the EU’s recently established unitary patent system;

    14. Calls for a common clinical trials framework with streamlined approval procedures across the Member States to minimise administrative burdens and delays, and which allows for the use of real-world evidence for biotechnology therapies; asks the Commission to present the current situation in this regard, as well as potential improvements; calls for the swift implementation of the Clinical Trials Regulation[2] and the use of the EU’s Clinical Trials Information System;

    15. Underlines the strategic importance for the EU of a strong biotechnology ecosystem to support R & D, manufacturing, and patient access to innovative medicines; points out that biotechnology processes can be used to manufacture active pharmaceutical ingredients and key manufacturing inputs for both off-patent and innovative medicines;

    16. Recommends using the next generation of regulatory sandboxes to assess the specific impacts and possibilities of emerging biotechnology and biomanufacturing applications, ensuring that new technologies can be trialled in a controlled but flexible and future-proof regulatory environment; stresses the importance of ensuring that EU policy takes account of technological and scientific developments to safeguard the EU’s global competitiveness;

    17. Recommends developing a strategy to support biotechnology and biomanufacturing companies transitioning from the regulatory sandbox regime to full market access; requests that the strategy include, but not be limited to, support mechanisms, regulatory assistance and guidance on compliance with EU legislation;

    The need to promote the advantages and specificities of the biotechnology and biomanufacturing industry

    18. Underlines that effectively scaling up biotechnology and biomanufacturing in the EU hinges on a robust, competitive and circular bioeconomy; calls on the Commission to present an updated bioeconomy strategy, which takes account of current challenges and reinforces the bioeconomy’s industrial dimension and its links to biotechnology and biomanufacturing, incentivising the development and production of sustainable, innovative, high-value added bio-based materials, products and solutions, to contribute to EU competitiveness and strategic autonomy;

    19. Acknowledges the important role biomass plays in biomanufacturing; recalls, in this regard, the importance of adopting an approach open to different sustainable biomass technologies grounded in robust analysis, and with the aim of enhancing feedstock access and use, as well as harnessing international supply chains, while aiming to avoid unintended environmental externalities;

    20. Underlines the need to account for the specificities of biogenic carbon, bio-based products and processes, and to differentiate them from petrochemical and fossil-based products, in the context of EU and national chemical, materials and environmental legislation;

    21. Points out that essential components, such as enzymes, lactic acid bacteria and other microorganisms, run the risk of being prohibited or unduly disincentivised by EU regulations primarily designed for petrochemical and synthetic substances, such as the REACH Regulation[3];

    22. Is concerned that the European Investment Bank (EIB)’s interpretation of sustainability criteria under the EIB Group Paris alignment framework may result in access to funding for bio-based materials and projects being denied; asks the Commission to examine relevant definitions accordingly and encourage biotechnology- and biomanufacturing-friendly interpretations; calls on the EIB to propose de-risking instruments for biotechnology and biomanufacturing, in order to raise capital; calls, moreover, on the EIB to improve outreach, advisory support and information on financing instruments and opportunities for eligible biotechnology and biomanufacturing projects, in particular SMEs, start-ups and scale-ups;

    23. Underlines the benefit and contribution of bio-based products and processes to the EU’s CO2 reduction objectives, which, given the potential of these products to increase sustainability and lower the EU’s environmental footprint, need to be reflected in respective life cycle assessments, information for consumers and public procurement;

    24. Considers that, in order to accelerate the substitution of fossil-based feedstocks, the market demand and market uptake of sustainable bio-based products could be further incentivised in the EU; considers that bio-based feedstocks, such as sustainably sourced biomass, recycled waste and CO2 captured from biogenic sources, could be used as alternative feedstocks for the manufacturing of various products, contributing to the EU’s emissions reduction, resource efficiency and strategic autonomy; in this context, recalls the commitment in the EU’s Competitiveness Compass to develop policies to reward early movers; considers that coherent and adequate sustainability criteria should be ensured for biomass;

    25. Underlines the importance of upholding the EU’s high standards of food and consumer safety and the potential of biotechnology applications when assessing biotechnology applications in food and feed to protect consumer health, assess impact on circularity and sustainability, and to consider social, ethical, economic, environmental and cultural aspects of food innovation; calls on the Commission to identify smooth routes to market for safe applications of biotechnology in food products, while reiterating that such biotechnology applications need to be properly examined, prior to any future authorisation and subsequent placing on the EU market, including gathering toxicological information and clinical and pre-clinical studies where relevant, and ensuring traceability;

    26. Underlines that biosecurity risks, including bioethical considerations, must be addressed in conjunction with biotechnology and biomanufacturing innovation, ensuring responsible access to and use of synthetic biology tools, genetic editing technologies and biological materials; calls for the establishment of an EU biosecurity registry for synthetic DNA, benchtop synthesis equipment and genetic engineering tools, improving transparency and risk-assessment mechanisms, in consultation with relevant stakeholders, such as industry and civil society, and while ensuring sensitive data is adequately protected; stresses the importance of EU strategic autonomy in biotechnology supply chains, ensuring that critical biomanufacturing inputs and expertise remain within Europe; calls for stronger international cooperation on biosecurity standards, including mandatory international screening standards, ensuring that EU-based biotechnology and biomanufacturing companies benefit from global best practice while maintaining competitiveness;

    27. Urges the Commission to conduct a study on biological materials and to present an updated communication and an action plan on chemical, biological, radiological and nuclear risks, in particular regarding bioterrorism and bio-risks;

    Horizontal issues

    28. Underlines the importance for supply chain security of ensuring a sufficient, stable and competitive supply of feedstock, raw materials and essential components, such as sustainable biomass and enzymes for biotechnology and biomanufacturing companies; calls for potential risks, gaps and dependencies to be closely monitored while safeguarding company-sensitive data and the functioning of the internal market;

    29. Stresses the importance of developing EU raw material value chains and manufacturing, and enhancing self-sufficiency where possible, while also fostering strategic partnerships and cooperation with like-minded non-EU countries to secure resilient and diversified access to critical inputs of biotechnology and biomanufacturing industries in the EU;

    30. Stresses that, in an increasingly tense geopolitical context, biotechnology and biomanufacturing should be fully leveraged to strengthen the EU’s strategic autonomy, enhance food security and reduce dependence on non-EU countries; highlights the need to stimulate market demand and uptake of bio-based products to boost the growth, competitiveness and sustainability of the EU biotechnology and biomanufacturing sector;

    31. Notes that the scale-up and commercialisation of research results remains a major challenge in the EU, and stresses the need to improve knowledge and technology transfer between academia and industry to ensure that EU-funded biotechnology and biomanufacturing research leads to commercial applications and industrial deployment; highlights the importance of strengthening public-private collaboration and supporting universities and research institutions with high levels of technology transfer, spin-offs, and start-up creation, for example by applying the CERN model of building start-up studios within research institutions; calls for strategic investments in shared EU infrastructure – such as pilot facilities, biobanks or innovation accelerators – to support the scale-up of prototypes and the market uptake of innovative biotechnology and biomanufacturing solutions; underlines that innovation cannot solely take place for short-term economic benefit, and that biotechnology and biomanufacturing innovation should be driven through a bottom-up approach under a standalone and long-term framework programme; calls on the Commission to facilitate the creation of world-leading research hubs for biotechnology and biomanufacturing to drive innovation and collaboration between academia, industry and venture capital; emphasises the need for robust physical testing facilities in the biotechnology and biomanufacturing sector to drive innovation and facilitate the production and market access for SMEs and start-ups;

    32. Stresses the need to ensure access to affordable energy for biotechnology and biomanufacturing operators, given the high energy intensity of large-scale biological production processes; underlines the importance of facilitating the authorisation and validation of large industrial plants, such as bioreactors, which are essential for scale-up but also face significant construction and operating risks; welcomes the latest revision of the Renewable Energy Directive[4] and its provisions to simplify permitting procedures, and calls on the Member States to swiftly implement relevant measures to support the deployment of biotechnology and biomanufacturing infrastructure;

    33. Underlines the need for a skilled and diverse European workforce in the biotechnology and biomanufacturing sector and for the promotion of entrepreneurial skills, in close collaboration with industry and research institutions; calls for increased investment in biotechnology and biomanufacturing education and targeted professional training, including in but not limited to areas such as regulatory compliance, quality assurance and process engineering; supports the development of competence centres and public-private training initiatives across all Member States to enable upskilling, reskilling and lifelong learning to safeguard the attractiveness of the biotechnology and biomanufacturing industry; highlights the importance of adapting educational curricula to the evolving needs of the sector, and of promoting science, technology, engineering and mathematics (STEM) subjects, with a particular focus on attracting more girls and women into biotechnology and biomanufacturing careers; encourages more public awareness about career opportunities in the field to attract talent from non-EU countries and suggests exploring the potential for transatlantic cooperation; welcomes the recently launched Choose Europe for Science pilot scheme to attract top non-EU researchers, scientists and academics to Europe;

    34. Calls for the urgent completion of the capital markets union to attract institutional investors to the biotechnology and biomanufacturing industry, including venture capital, pension funds and private equity; underlines that the sector is characterised by high levels of risk and that reducing the cost of investment failure in the EU is necessary for attracting large-scale capital investment; calls for dedicated support to ensure that biotechnology and biomanufacturing SMEs, start-ups and scale-ups can access sufficient funding and compete globally; stresses that cross-border investment barriers must be reduced to facilitate investment in biotechnology and biomanufacturing scale-ups;

    35. Notes that public-private partnerships and mission-driven EU investment strategies, such as the Circular Bio-based Europe Joint Undertaking, are essential for de-risking biotechnology and biomanufacturing innovation and for increasing the likelihood that IP and industrial capacity remain in Europe; urges EU investment instruments, such as the InvestEU programme, to be strengthened to support biotechnology and biomanufacturing projects considered as high-risk from an investment perspective; underlines that the sector is characterised by a high concentration of SMEs, which face disproportionate barriers in accessing capital despite being critical drivers of innovation; supports the exploration of a biotechnology Important Project of Common European Interest to facilitate industrial deployment and first-mover investments in bio-based chemicals, materials, and products and solutions;

    36. Notes that public awareness of biotechnology and biomanufactured products in the EU should be further strengthened to boost public acceptance; recommends engaging with citizens and civil society organisations to communicate the characteristics, benefits and implications of the growing presence of biotechnology-based products and services in the European market;

    Future-proof research and innovation

    37. Regrets that European private investment in research, development and innovation is lagging behind other major economies and that the scale-up and commercialisation of research results remain a major challenge in Europe; highlights the fact that European and national public systems for R & D funding remain complex and insufficiently coordinated, resulting in duplications and inefficiencies; calls for an EU-wide approach to coordinating public investment in R & D for biotechnology and biomanufacturing, with the dual objective of closing excellence and innovation gaps and accelerating commercialisation; underlines the importance of strengthening European collaboration, pooling knowledge and resources, and leveraging public funding with private investment; recalls the key role of framework programmes such as Horizon Europe in fostering scientific excellence, innovation and technical development and calls for targeted investment in strategic biotechnology and biomanufacturing subfields, such as industrial, environmental, marine, health and agri-food biotechnology;

    38. Reiterates the call to double the EU’s research budget and to reach the target of 3 % of EU gross domestic product being devoted to R & D by 2030;

    39. Notes the growing role of synthetic biology, bioinformatics, data and game-changing AI-driven biotechnology and biomanufacturing research; calls on the Commission to integrate biotechnology and biomanufacturing innovation into the EU digital and AI strategies, ensuring interoperability between biotechnology and biomanufacturing data infrastructure and AI-driven discovery platforms; notes that AI capabilities are dependent on the efficient use of data; considers that the creation of industrial data spaces for biotechnology and biomanufacturing is important for efficient data sharing;

    40. Acknowledges that, while AI systems and quantum computing can significantly speed up research and lead to new innovations, enabling better computational designs of biological systems, they can also increase the risk of biological threats; underlines, therefore, the need to apply a risk-based approach to the use of AI in scientific research and manufacturing;

    41. Considers that the ethical use of AI, bioinformatics and synthetic biology is crucial for building trust and for society at large to benefit from these technologies; underlines the need to safeguard data privacy, data security, transparency and human oversight of the use of AI systems in the health biotechnology sector;

    42. Instructs its President to forward this resolution to the Council and the Commission.

    MIL OSI Europe News

  • MIL-OSI United Nations: General Assembly Endorses Nice Ocean Conference Declaration, Adopts $5.38 Billion Peacekeeping Budget

    Source: United Nations 4

    The General Assembly today endorsed the political declaration of the United Nations Ocean Conference, which establishes multilateral ocean governance.  It also adopted the $5.38 billion peacekeeping budget for the year starting 1 July. 

    Titled “Our Ocean, Our Future:  United for Urgent Action” (A/79/L.97), the declaration was adopted by acclamation at the close of the Conference held earlier this month in Nice, France.  However, today’s formal endorsement by the 193-member Assembly required a recorded vote, with 162 in favour to 1 against (United States), with no abstentions.  

    Several delegations objected to the vote, with the representative of France, co-host of the Conference along with Costa Rica, highlighting its strong political declaration and robust initiatives for the future as “a victory for the ocean”.  “The ocean doesn’t know borders” and neither should “our efforts to protect it”, said Costa Rica’s delegate, noting his country’s “steadfast” commitment to protecting the oceans.  He welcomed the momentum generated at the Conference for an early entry into force of the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction (BBNJ Agreement).  He also hailed promises to accede to the World Trade Organization (WTO) agreement to end subsidies for overfishing and decisive support for a plastic pollution convention as soon as possible.

    Brazil’s representative noted that the seas are “the planet’s main climate regulator” but “are running a fever”, while Australia’s delegate saw the adoption of this text as a testament to a collective commitment to address the urgency of climate change, biodiversity loss, and ocean pollution.  The United States’ delegate said the focus on implementing Sustainable Development Goal 14 is inconsistent with its position on the 2030 Agenda for Sustainable Development.

    Iraq’s delegate, speaking for the Group of 77 and China, noted that implementing Goal 14 requires more ambitious financial action, fulfillment of commitments made through intergovernmental agreements, and increased resources for small island developing States (SIDS) and least developed countries. 

    For her part, Venezuela’s delegate noted she had joined the consensus, while reiterating that it was not a party to the United Nations Convention on the Law of the Sea, which is “not the only single legal and regulatory framework for oceans and seas” — a position echoed by representatives of Iran, Türkiye, and El Salvador.

    Meanwhile, Argentina’s representative disassociated his delegation from all paragraphs referring to the 2030 Agenda and the Pact for the Future, as well as all paragraphs contradicting the guiding principles of the protection of life, liberty, and private property. 

    The Russian Federation’s delegate disassociated from the consensus on paragraph 26 of the declaration, which emphasizes the importance of the early entry into force of the BBNJ Agreement.  The instrument would undermine the provisions of the Convention on the Law of the Sea and the Agreement on Straddling Fish Stocks, with its norms allowing for impingement on the mandates and competencies of fisheries organizations.

    Japan’s representative hailed the adoption as “not the end but just the beginning of our renewed commitment to achieving SDG 14”, while Singapore’s delegate stated that the Convention on the Law of the Sea remains the “constitution for the oceans”, calling on Member States to fully respect it. 

    $5.38 Billion Budget for Peacekeeping Operations

    Acting on the recommendations of its Fifth Committee (Administrative and Budgetary), the Assembly also allocated a budget of $5.38 billion to 11 UN peacekeeping operations, the support account for these operations, the Regional Service Centre in Entebbe, and the Logistics Base in Brindisi.  These resolutions were adopted without a vote, with the exception of the resolution on the United Nations Interim Force in Lebanon (UNIFIL) (A/C.5/79/L.36/Rev.1), which was adopted by 147 votes in favour to 3 against (Argentina, Israel, United States), with 1 abstention (Paraguay), after an oral amendment proposed by Israel was rejected by 5 votes in favour (Argentina, Canada, Israel, Paraguay, United States) to 83 against, with 57 abstentions. 

    The Assembly further adopted a draft resolution on the “Comprehensive review of the whole question of peacekeeping operations in all their aspects” (A/79/424/Add.1), which was approved and forwarded by its Fourth Committee (Special Political and Decolonization).

    Tackling Illicit Trafficking in Wildlife

    The Assembly then adopted, by 157 votes in favour to 1 against (United States), with no abstentions, a draft resolution (A/79/L.96) submitted by the representative of Germany, by which the Assembly urges Member States to reinforce their efforts and adopt effective measures, as necessary, including by using special investigative techniques, consistent with article 20 of the United Nations Convention against Transnational Organized Crime, to prevent, investigate, prosecute and punish crimes that affect the environment, such as illicit trafficking in wildlife and wildlife products, which encompasses poaching and illegal harvesting of timber, including fauna and flora as protected by the Convention on International Trade in Endangered Species of Wild Fauna and Flora.

    Speaking in explanation of position, the United States delegate noted that the text contained matters that “should be discussed in Vienna-based anti-crime fora rather than in the General Assembly”. Further, he opposed the use of the term “gender mainstreaming,” insisting on the “biological reality of sex”. For his part, Argentina’s representative dissociated his delegation from all paragraphs concerning the 2030 Agenda and those that go against the protection of life and private property, including preambular paragraphs 1, 2, 18, 34 and operative paragraph 27.

    Promoting Interreligious, Intercultural Dialogue, Tolerance in Countering Hate Speech

    The Assembly also adopted a draft resolution (A/79/L.98) on combating hate speech, introduced by Morocco, by a recorded vote of 111 in favour to 1 against (United States), with 44 abstentions.  By the text, the Assembly called upon Member States to increase understanding about the spread and impact of hate speech, while continuing to adhere to relevant international human rights law obligations, as well as relevant United Nations instruments, in particular the Rabat Plan of Action.  Further, the Assembly called upon digital technology companies and developers to continue to develop solutions and publicly communicate actions to counter potential harms, including hate speech, bias and discrimination, from artificial intelligence-enabled content, including such measures as ensuring data integrity, incorporation of safeguards into artificial intelligence model training processes, identification of artificial-intelligence-generated material, authenticity certification for content and origins, labelling, watermarking and other techniques.

    Poland’s delegate, speaking for the European Union, whose members abstained from voting, emphasized that freedom of belief and religion applies to individuals, not objects or symbols, expressing reservations about preambular paragraph 14.

    The wording of that paragraph presents “serious concerns” in terms of freedom of expression and religious pluralism, noted the representative of Costa Rica, which further emphasized that combating hate speech cannot be achieved at the expense of freedom of expression.

    Hungary’s delegate indicated she could not support operative paragraph 23, which highlights one specific group, migrants, while the representative of the United Kingdom, who also abstained, refused to consider a text criticizing religion as incitement to hatred.

    Any restriction on freedom of expression must be circumscribed by law, necessary, and proportionate, argued Switzerland’s delegate, emphasizing that human rights protect individual beings, not religions or objects.  Furthermore, defamation of religions or religious defamation are not legal concepts recognized under international law.  For all these reasons, she voiced regret over the wording of preambular paragraph 14.

    For his part, Brazil’s delegate dissociated itself from paragraphs 11, 12, and 13, given that there is no agreed definition of hate speech and that this concept could be politicized.  Canada’s representative remained committed to the principle that everyone can exercise their freedom of belief and religion without fear of violence, also welcoming the attention paid to new technologies, while voicing concern over the wording of preambular paragraph 14 on acts directed against religious symbols and holy books.

    The Wiphala for Living Well in Harmony, Balance, Complementarity with Mother Earth

    The Assembly further adopted, by a recorded vote of 139 votes in favour to 2 against (United States, Israel), with 5 abstentions (Canada, Georgia, Paraguay, Peru, Türkiye), a draft resolution (A/79/L.95) introduced by Bolivia, who noted the Wiphala is “an age-old symbol born out of the deepest roots of Indigenous Peoples,” an expression of “the seven colors of the rainbow” and living in harmony with Mother Earth.  By the text, the Assembly called upon the international community to advance in the understanding, tolerance and solidarity among all peoples and cultures, and to strengthen efforts to eradicate manifestations of racism, racial discrimination, xenophobia and related intolerance, including against Indigenous Peoples, and promote respect for the diversity of their cultural manifestations, traditions, practices and knowledge systems.

    The United States representative, speaking before the vote, noted his delegation opposed the resolution’s focus on a single Indigenous community, further stating that the symbol remains controversial.  

    Mexico’s representative voiced regret that the Wiphala is limited to Bolivia and nearby regions, while Peru’s delegate pointed out that the text does not sufficiently detail the exact cultural origin of the symbol, and that the concept does not have a defined definition in a UN context. 

    While recognizing the cultural importance of the Wiphala for certain peoples of the Andean region, Canada’s delegate considered it inappropriate for the Assembly to designate a symbol specific to a geographical area as representing all Indigenous Peoples internationally.  This choice must be made by the Indigenous Peoples themselves, not by the UN, he said.

    MIL OSI United Nations News

  • MIL-OSI United Nations: Deputy Secretary-General’s Remarks at the High-level session of the International Business Forum “The Future of Development Finance and the Role of the Private Sector” [as prepared for delivery]

    Source: United Nations secretary general

    Excellencies,
    Dear friends,
    It is a privilege to join you today at this pivotal moment for the future of development finance.
    Sadly, the world faces a sustainable development crisis.
    Trade barriers are growing. Aid budgets are shrinking. Macroeconomic risks are mounting.
    Debt burdens are dragging down growth. Climate shocks are hitting harder and more often.
    Development finance is at a critical inflection point.
    Official Development Assistance, long a cornerstone of international solidarity, declined by 7 per cent in real terms last year. And further cuts are already on the table.
    But the real picture is even starker. Much of what is counted as ODA today is being redirected to cover domestic priorities, not long-term SDG investments.
    At the same time, the SDG financing gap has ballooned to 4 trillion dollars a year.
    Yet, amid this sobering reality lies an opportunity:
    An opportunity to reimagine development finance for the world we live in now.
    To move from a model built on assistance, to one driven by purpose and partnership. From international assistance, to strategic, sustainable investment.
    In this new vision, public finance, national and international, remains essential. Especially in sectors where market incentives are weak but human needs are immense, like education, health, social protection.
    But public finance alone cannot carry the weight. It must be used to unlock and leverage private investment, at scale and with speed.
    The question we need to answer is clear:
    What will it take for private capital to flow where it is most needed?
    The outcome document of the FFD4 conference, the “Sevilla Commitment”, puts forward a compelling action agenda that seeks to answer this question.
    First, we need an enabling business environment, supported by strong institutions, policy coherence, and investment pipelines.
    Second, we need better blended finance vehicles that deliver sustainable development impact and align with developing countries’ national priorities. 
    This requires standardizing blended finance with replicable and scalable structures, a ready pipeline of bankable projects, and more transparency in the development outcomes of transactions.
    Third, we need financial innovation. Equity instruments. Auction mechanisms. Creative tools that allow public and private actors to share risk and reward more fairly.
    Fourth, we must scale up aggregation platforms that expand catalytic capital and reduce transaction costs by pooling resources from international financial institutions.
    Fifth, it is time to reassess prudential regulations that may unintentionally discourage long-term investments in developing countries.
    We need to engage with regulators to ensure risk is not mispriced and regulation enables greater use of risk-sharing tools.
    Let’s be clear: we must dramatically expand our sources of development capital, and we must do so urgently and intentionally.
    This is why the United Nations calls on all actors across the investment ecosystem to join us in a long-term, collaborative effort to reshape development finance.
    At the UN, we are taking concrete steps to strengthen partnerships to unlock capital for sustainable development.
    Platforms such as the Global Investors for Sustainable Development (GISD) Alliance are bringing together private investors, foundations, policymakers, and leaders across the development finance spectrum. These leaders can shape sustainable finance frameworks, identify investment barriers, and pilot innovative solutions.
    Working together we can coordinate action, amplify impact, and accelerate the global shift toward long-term, responsible development finance.
    Private sector partners bring more than capital. They bring creativity, agility, and scale. They can power the transition to green energy, accelerate digital inclusion, and revolutionize service delivery.
    Philanthropic partners are also uniquely positioned to take risks others cannot, test innovations, and address gaps that markets and governments may not reach.
    They can back new models and ideas in early stage projects, or help unlock larger flows of investment by building proof points and trust.
    Above all, our financing systems must work for those who have historically been excluded, and on a practical level that means that means removing structural barriers that keep capital out of the hands of women-led businesses, youth innovators, and underserved communities.
    Excellencies,
    This is not about making tweaks here and there. It is about rethinking the fundamentals.
    The current financial system was not built for today’s world. Let alone tomorrow’s.
    We need a system that allocates capital not only by profit, but by purpose, not only by returns, but by impact.
    The next chapter of development finance is not yet written. But it must be a shared story written by all of us, and accountable to all people.
    So, let’s seize this moment and step into this new era not as donors or beneficiaries, but as equal partners, and deliver on the promise of sustainable development.
    On behalf of the United Nations, I thank you for your leadership, your ideas, and your resolve.
    Thank you.

    ***
     

    MIL OSI United Nations News

  • MIL-OSI United Nations: In Dialogue with North Macedonia, Experts of the Human Rights Committee Commend Anti-Discrimination Measures, Raise Concerns about Reports of Excessive Use of Force by Border Officials and Attacks on Journalists

    Source: United Nations – Geneva

    The Human Rights Committee today concluded its consideration of the fourth periodic report of North Macedonia on how it implements the provisions of the International Covenant on Civil and Political Rights, with Committee Experts commending the State’s efforts to address discrimination, and raising issues concerning reports of border officials’ excessive use of force against asylum seekers and attacks on journalists.

    A Committee Expert acknowledged the positive efforts made by the State towards strengthening the rule of law and addressing discrimination, pursued in the context of North Macedonia’s candidacy for membership of the European Union.

    One Committee Expert cited reports of excessive use of force carried out by border officials against asylum seekers.  How did the State party ensure that such reports were investigated in a timely and effective manner?

    Another Committee Expert said there had been an increase in attacks on journalists in recent years; how was the State working to prevent such attacks?  What training was provided to public officials on the right to freedom of expression?

    Nikola Prokopenko, State Counsellor for Criminal Legislation at the Ministry of Justice of North Macedonia and head of the delegation, said North Macedonia had been committed to implementing the Committee’s recommendations, which had been integral to strategic priorities in reforming the legal system, strengthening the rule of law, and advancing democracy in alignment with European standards.

    On measures to prevent discrimination, the delegation said the State was harmonising the law on the prevention of discrimination with relevant European Union directives.  The national commission monitoring discrimination had been strengthened; it had helped to develop national policies on preventing discrimination and to raise civil servants’ awareness of the issue.

    There were internal mechanisms within the police service that investigated complaints of excessive use of force and torture by police officers, the delegation said.  When evidence was found, criminal proceedings were instituted against the accused officer, who was also sanctioned.  There had been no reports of excessive use of force against migrants and asylum seekers between 2022 and 2024.

    The delegation also said recent amendments to the Criminal Code allowed for the ex-officio prosecution of attacks on journalists.  The State had worked to raise the visibility of crimes against journalists and increase punishments for such crimes.  There were four crimes committed against journalists in 2024; all these cases had been prosecuted.

    In concluding remarks, Mr. Prokopenko expressed appreciation for the constructive dialogue, saying that the Committee’s recommendations would serve as valuable guidance for strengthening laws and policies. The State would leave the dialogue motivated to build a more just and equitable human rights-based society.

    Changrok Soh, Committee Chairperson, in concluding remarks, commended North Macedonia on its ratification of international treaties, legal norms on gender-based violence, and policies on gender equality.  However, he said concerns remained related to issues such as hate speech, prison conditions, and the limited protection framework for asylum seekers.  Mr. Soh closed by expressing sincere gratitude to all those who had contributed to the dialogue.

    The delegation of North Macedonia was made up of representatives of the Ministry for Inter-Community Relations; the Agency for Audiovisual Media Services; the Ministry of Social Policy, Demography and Youth; the Ministry of Justice; the Ministry of Health; the Ministry of Foreign Affairs and Foreign Trade; the Ministry of Interior; the Ministry of Education and Science; and the Permanent Mission of North Macedonia to the United Nations Office at Geneva.

    The Human Rights Committee’s one hundred and forty-fourth session is being held from 23 June to 17 July 2025.  All the documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 3 p.m., Tuesday 1 July to begin its consideration of the fourth periodic report of Latvia (CCPR/C/LVA/4).

    Report

    The Committee has before it the fourth periodic report of North Macedonia (CCPR/C/MKD/4).

    Presentation of the Report

    NIKOLA PROKOPENKO, State Counsellor for Criminal Legislation at the Ministry of Justice of North Macedonia and head of the delegation, said North Macedonia had been committed to implementing the Committee’s recommendations over the reporting period.  These recommendations had been integral to strategic priorities in reforming the legal system, strengthening the rule of law, and advancing democracy in alignment with European standards.

    In 2022, the State signed the Second Additional Protocol to the Council of Europe Convention on Cybercrime; in 2023, it ratified the European Convention on Human Rights; in November 2024, it ratified the Council of Europe Convention on Access to Official Documents; in December 2024, it ratified the Protocol to Eliminate Illicit Trade in Tobacco Products; and the ratification of the Optional Protocol to the Convention on the Rights of the Child on a communications procedure was in its final parliamentary reading.  In October 2024, North Macedonia was elected a member of the Human Rights Council for the 2025-2027 term.

    During the reporting period, North Macedonia completed implementation of the justice sector reform strategy 2017–2022, which laid the foundation for a more transparent, efficient, and accountable justice system; and adopted a development strategy for the justice sector 2024–2028, aimed at further advancing the rule of law and access to justice.

    According to the strategy for Roma inclusion 2022–2030, dedicated funds had been allocated from the national budget to support the implementation of targeted projects in areas of employment, housing, social inclusion, healthcare, and persons lacking personal documentation.  In parallel, the implementation of the strategy for combatting human trafficking and illegal migration (2021–2025) was in the evaluation process.  The State was developing the national action plan for the rights of the child (2025–2029), and the strategy and national action plan for the implementation of the Council of Europe Convention on Preventing and Combatting Violence against Women and Domestic Violence (2026–2033).

    Over the past period, notable progress had been made in the legislative sphere, including through the harmonisation of the Criminal Code with the provisions of the Istanbul Convention; and the adoption of the law on audio and audiovisual media services, the new law on the media, and the law on the execution of sanctions, aimed at enhancing legal clarity and institutional effectiveness.  The State was also actively engaged in drafting amendments to the law on the Judicial Council, the law on the courts, the law on the Public Prosecutor’s Office, and the law on the Council of Public Prosecutors.  These reforms were an integral part of the development sectoral strategy for the judiciary, aiming to further strengthen judicial independence, transparency, and accountability.

    The Government had partnered with the United Nations Children’s Fund to identify the most vulnerable groups of children and conduct a comprehensive assessment of existing services and programmes aimed at addressing child poverty and social exclusion.  It had enacted the law on justice for children and adopted a declaration on the prevention of and fight against violent extremism, which was jointly signed by religious communities and civil society organizations in the country.

    The consistent and effective implementation of reforms in the field of education remained a national priority.  Several reform-oriented laws on education had been adopted, aimed at enhancing accessibility, inclusiveness, and quality of education across all levels.

    The State party was actively implementing the second national action plan to support the women, peace and security agenda.  It had also focused efforts on strengthening institutional capacities for support to and protection of victims of gender-based violence, while intensifying activities aimed at the prevention of discrimination and violence against women and domestic violence.

    North Macedonia remained fully committed to the execution of judgments of the European Court of Human Rights.  In December 2024, the Committee of Ministers of the Council of Europe adopted a final resolution confirming the closure of two cases against the country, thus acknowledging its efforts in implementing the Court’s decisions.

    The fight against corruption and organised crime remained a high national priority.  The State was steadfastly implementing the national strategy for the prevention of corruption and conflict of interests, which set a comprehensive framework for transparency, accountability, and institutional integrity.  The Interdepartmental Body for Coordination of Anti-Corruption Activities played a vital role in fostering inter-institutional cooperation and ensuring the effective implementation of anti-corruption measures across all sectors. 

    The State party was currently drafting a new law on internal affairs, which introduced mandatory professional integrity checks for all personnel at the Ministry of the Interior.  In addition, it had adopted the plan for the prevention of corruption in the penitentiary system (2022–2026), as well as a sector-specific integrity policy.

    Towards the continuous development of staff in the penitentiary sector, the State had established a functional training and education centre, currently staffed with 31 certified trainers, which played a pivotal role in building institutional capacity, improving service delivery, and aligning penitentiary practices with European and international standards.

    In support of freedom of expression, the State had taken concrete steps to strengthen criminal law protection for journalists, thereby reinforcing a safe and enabling environment for independent journalism.

    The State party was prioritising both the enhancement of the legal framework and the strengthening of institutional capacities to prevent and protect against acts of torture and other forms of ill-treatment.  It had established the Commission for Monetary Compensation to Victims of Violent Crime, in accordance with the law on payment of monetary compensation to victims of violent crimes, which was adopted in 2022.  This mechanism envisaged a crucial form of redress and recognised the State’s responsibility to support victims on their path to recovery.

    In the period ahead, North Macedonia would intensify reform efforts and take more decisive, accelerated steps to ensure timely and effective implementation of the planned reform agenda.  Fully-fledged membership of the European Union would serve as a powerful catalyst for the effective realisation, advancement, and sustained protection of human rights in the country.  The State’s reform agenda for 2024 to 2027 promoted reforms that were integral to completing the European Union integration journey.

    Questions by Committee Experts

    A Committee Expert said the dialogue was taking place in the context of North Macedonia’s candidacy for membership of the European Union and membership of the Human Rights Council.  The Committee acknowledged the positive efforts made by the State towards strengthening the rule of law and addressing discrimination.

    North Macedonia had not provided information on the application of the Covenant in its report.  Was the Covenant used by national courts?  How did the State party ensure dissemination of the Committee’s general comments?  During the COVID-19 pandemic, the State party had adopted measures that derogated from the Covenant without reporting them.  Why was this?  The Committee had registered less than five individual communications from North Macedonia. What was being done to ensure that individuals were aware of the Committee’s communications procedure?

    The national human rights institution had “B” status under the Paris Principles and lacked resources.  The role of the national human rights institution as the national preventive mechanism had not been formalised.  Would the State party adopt a law to ensure that the Ombudsperson had sufficient resources and independence, and that its reports were followed up on by the authorities?

    The reform of the Criminal Code in 2023 reportedly made it more difficult to prosecute cases of corruption.  What results had been obtained in prosecuting cases of corruption and money laundering?  Had proceedings involving the former Prime Minister concluded? What was the mandate of the State’s Anti-corruption Commission and how was it funded?

    Another Committee Expert said North Macedonia had made many attempts to address discrimination, including the 2020 law on the prevention of discrimination and the establishment of the Commission on the Prevention of Discrimination.  However, this Commission reportedly operated with only a fifth of the resources it needed.  What challenges did the State party face in ensuring the effective implementation of the legal framework on discrimination?  How effective were remedies available to victims of discrimination?  How was the State party addressing barriers that prevented the reporting of discrimination?

    The national action plan on the Roma for 2014 to 2022 reportedly had achieved limited progress, indicating structural issues. What measures were in place to combat de facto segregation of the Roma in housing and education?  How was the State party empowering Roma women?  What steps had been taken to facilitate access to birth registration for all Roma persons?

    One Committee Expert asked about the results of the strategy for equality and non-discrimination for 2022 to 2026.  The State party needed to recognise discrimination based on sexual orientation and gender identity as grounds for hate speech and hate crimes within the Criminal Code.  Would this be done?  Some 32 cases of hate crimes against lesbian, gay, bisexual, transgender and intersex peoples had been brought to courts, but only two had reached convictions.  Was the State party considering measures to increase the conviction rate?

    Why did the State party impose long pre-trial detention periods of up to 180 days?  Would it revise its practices and ensure that pre-trial detention was used only as a last resort?  Could judicial sentences imposing pre-trial detention be appealed?  Did detained persons have access to a lawyer from the moment of their arrest, and did the State party implement alternatives to pre-trial detention?

    A Committee Expert said North Macedonia adopted a national gender equality strategy in 2017, but no progress had been made on the draft law on gender equality.  Why was this?  It was welcome that the State party had appointed its first woman President in 2024. North Macedonia had a comparatively high percentage of women members of parliament for the region, but had a low representation of ethnic minority women.  How was the State party addressing this?  Only three out of 18 ministers were women; only two out of 82 mayors were women; and women represented 36 per cent of managerial positions in the public sector.  What were the obstacles to improving women’s representation in decision-making?

    New gender-based violence and domestic violence legislation was commendable, but it did not recognise psychological violence and cyber violence.  Would the State party amend the Criminal Code to address these forms of violence? Violence against female journalists and human rights defenders had increased recently.  What measures had the State party taken to implement existing laws and protect these women from violence?  Women involved in court procedures related to gender-based violence were often unaware of their right to free legal aid.  Underaged mothers who were victims of violence were unable to access support shelters.  Cases of gender-based violence had increased in recent years, but there was a low number of criminal convictions of perpetrators.  How was the State party addressing these issues?  Had sufficient funds been allocated to implementing the national action plan on preventing gender-based violence, including to collect data on the issue?

    During the reporting period, North Macedonia had adopted a law permitting abortion from 12 to 17 weeks of pregnancy and regulations on abortion procedures.  However, abortion medications had not been registered and procedures were not available in rural areas.  Would the State party address these issues?

    A Committee Expert noted the establishment of accountability measures within the Ombudsperson’s Office to investigate complaints against police officers on acts of torture and ill-treatment.  Most investigations of complaints had not led to prosecutions; however, there were continued reports of police using violence to obtain forced confessions, and of excessive use of force carried out by border officials against asylum seekers.  How did the State party ensure that complaints of excessive use of force by the police were investigated in a timely and effective manner? 

    The Roma community reportedly continued to face violence and threats from police officers, and not enough was being done to investigate such cases in an impartial manner.  How would the State party ensure the effective investigation of such cases and the punishment of perpetrators?  How would the State party promote the effectiveness of investigative mechanisms, including the national preventive mechanism?

    There were reports of a lack of implementation of prison reform.  The prison system was reportedly severely overcrowded and understaffed.  Some prisons struggled to provide sufficient access to clean water and food, including for juvenile detainees.  What measures would the State party take to address prison overcrowding, provide adequate health and sanitation services in all prisons, and ensure that prison staff were trained on international standards on the treatment of prisoners?

    Responses by the Delegation

    The delegation said that according to the Constitution of North Macedonia, ratified international treaties were part of the domestic legal order.  The State party had undertaken activities to raise awareness of the Committee’s individual communications procedure, and would work to raise the awareness of members of the judiciary about the Committee’s jurisprudence.

    In 2016, the State party adopted legislative amendments to strengthen the Ombudsperson, and a committee was now developing further measures to expand its mandate to monitor the rights of persons with disabilities and trafficking in persons.  National authorities had implemented 74 per cent of the Ombudsperson’s recommendations.  The State was considering measures to strengthen the degree of implementation of the recommendations.

    The State had increased the budget of the National Commission against Corruption by 47 per cent in recent years, and had developed an electronic platform for reporting cases of money laundering and organised crime, which included indicators for monitoring the anti-corruption policy.  It was also drafting amendments to the law on the prevention of corruption and conflicts of interest, which would make sanctions for misdemeanours stricter.  A law on the protection of whistleblowers was adopted in 2022, which had led to three related cases being brought to the courts.  The National Commission against Corruption produced annual reports, proposing initiatives for holding officials responsible and for institutions to respond to cases of corruption.  In 2025, 65 corruption cases were opened, most relating to violations of the Electoral Code involving non-reporting of conflicts of interest by political candidates.

    The State party had incriminated psychological violence in article 144 of the Criminal Code, recognising such violence as an aggravating circumstance.

    The civil oversight mechanism for torture and other cruel, inhuman or degrading treatment granted individuals the right to protection against ill-treatment.  Twenty-five complaints of ill-treatment by police were filed in 2024. There had been three complaints related to torture over the reporting period.  The Ombudsperson had established that there were no violations of rights in most of the cases.  Eight cases related to excessive use of force by the police were still under examination.

    Legal remedies were available to victims of discrimination, including civil lawsuits.  The State party sought to build the capacities of relevant entities within the judiciary to respond to cases of discrimination.  Discrimination was a subject in curricula at the judicial academy.

    North Macedonia had undertaken many activities to fight corruption within the prison system as part of the plan for the fight against corruption 2022-2025.  Amendments to the law on the execution of sanctions had been drafted, under which all prison staff would be obliged to make asset declarations.  In the second half of 2024, the State party increased the number of prison inspections.  Around 100 disciplinary actions had been imposed against prison staff in 2024, and proceedings had been initiated against two former prison wardens who were accused of abusing their authority.

    The State party had advanced the legislative framework to address prison overcrowding, while also developing prison infrastructure.  New laws concerning the Probation Service were being developed, which would increase the Service’s staff.  There had been more than 700 probation cases in 2024 and thus far had been more than 500 in 2025.  The State was promoting the use of probation instruments by the courts and had procured electronic bracelets for house arrests.  There were plans to increase funding for the reconstruction of the prison system.

    The Ombudsperson registered complaints of torture and violence in prisons, and there were plans to establish a registry of injuries among inmates.  The State party had increased the number of disciplinary proceedings against prison staff and had organised visits to prisons by non-governmental organizations. 

    In 2022, the State drafted the second cycle of the strategy for the Roma.  A coordinating unit for the strategy had been set up, and the budget for its implementation had been increased.  The strategy’s main focuses were healthcare, education, housing, employment and civil registration.  Most projects adopted under the former strategy had been completed.  The number of Roma who applied for social housing had increased, as had the number of Roma employees in the public administration. All Roma children born in the State had the right to birth registration, including children born to undocumented parents.

    The State party had developed measures to implement the decisions of the European Court of Human Rights, including measures to prevent the segregation of Roma students in primary schools.  The State party had increased the number of Roma education mediators, who were working on keeping Roma individuals in the education system and preventing discrimination.  Some 97 per cent of Roma students now progressed from primary to secondary school.

    North Macedonia had appointed gynaecologists in the municipality with the largest number of Roma.  There were health care mediators who supported Roma persons’ access to health care procedures.  Ante- and neo-natal screenings for the Roma were funded by the State.  Door-to-door vaccination campaigns were conducted in Roma settlements.

    The State party had adopted clinical guidelines for medically induced abortions and procured medications for abortions, but these had yet to be approved for use.  The State had, in collaboration with a non-governmental organization, trained doctors in one hospital to perform the procedure.

    Analysis was being conducted on the level of harmonisation of the law on the prevention of discrimination with relevant European Union directives, with a view to revising this law. The national commission monitoring discrimination had been strengthened; it had helped to develop national policies on preventing discrimination and to raise civil servants’ awareness of the issue. A research centre for the design of gender responsive budgets and policies was being set up and a report on the implementation of the national strategy for gender equality was being prepared.  Shelters for victims of gender-based violence and domestic violence had been set up across the country.

    There were internal mechanisms within the police service that investigated complaints of excessive use of force and torture and ill-treatment by police officers.  When evidence was found, criminal proceedings were instituted against the accused officer, who was also sanctioned.  A specialised department of the Public Prosecutor was mandated to prosecute police officers who had used excessive force.  There had been no reports of excessive use of force against migrants and asylum seekers between 2022 and 2024.

    The Criminal Code included provisions on cyber bullying, stalking, abuse of personal data, and sexual harassment. The State party had adopted amendments to the Criminal Code that included journalists within the group of professions performing in the public interest and increased penalties for crimes against journalists.  Defamation was decriminalised in 2017 and changed to an administrative offence.

    Follow-Up Questions by Committee Experts

    Committee Experts asked follow-up questions on the strategy to bring the Ombudsperson to “A” status under the Paris Principles; progress in investigations into corruption cases involving high-ranking officials; the results of measures implemented by the commission to combat corruption and the national strategy to combat corruption; whether the national strategy against gender-based violence included measures for the collection of data on domestic violence; measures to address the anti-gender movement in the State; the share of the Roma in the national population and in public bodies; and investigations into cases of ill-treatment against the Roma community.

    Responses by the Delegation

    The delegation said the State party was planning measures to strengthen the implementation of the Ombudsperson’s recommendations, including a deadline for reporting on implementation.  It would take into consideration the Ombudsperson’s financial independence and the status of its employees in upcoming legal reforms.

    From 2017 to 2024, 412 cases of corruption were opened, including 62 cases involving high-profile officials, including the former Prime Minister, and former mayors and prosecutors.  Some 110 indictments had been instituted related to abuse of official power, bribery and corruption.  Offenders had been sentenced to up to 15-year prison sentences, and assets had been confiscated, including more than 800,000 euros in one case.

    The State party had achieved great progress in prosecuting hate crimes.  The Criminal Code had been amended to expand the types of hate crimes and grounds for discrimination addressed, including discrimination based on sexual orientation and gender identity.  Training had been provided for the judiciary on the amended legislation.

    Hate speech was currently defined in eight different criminal laws.  The State party was preparing a revision to its Criminal Code that would establish a stand-alone offence of hate speech.

    In 2025, one case of an attack against a woman human rights defender had been brought before the courts.  There were a few cases of such attacks brought before the courts each year in the past three years.

    Pre-trial detention could be renewed for longer periods depending on the severity of the crime.  For most crimes, it could be renewed up to 90 days, but it could be renewed for up to two years for crimes punishable with life imprisonment.

    The State party was working to harmonise all national laws with the law on the prevention of discrimination and to raise public awareness of discrimination.  The Commission for the Protection of Discrimination lacked human resources, but had achieved great results, organising public awareness campaigns on international instruments related to discrimination.  Many citizens filed complaints with the Commission.  The draft law on gender equality was being analysed in cooperation with non-governmental organizations.

    The Ministry of Labour and Social Policy collected data from social work centres on domestic violence.  There had been 319 newly registered victims of domestic violence in the first quarter of 2025.  In 2024, there was a 14 per cent increase in reported cases of domestic violence. Awareness raising campaigns on the prevention of domestic violence had been carried out, which included information on the mechanism for reporting such violence.

    Gender-based attacks against women were widespread. Policies in North Macedonia were implemented with an obligatory gender analysis.  The State party was championing institutional support for women and their promotion to management positions.  Anti-gender equality movements had appeared in North Macedonia in 2023.  The State party had raised public awareness about gender equality in response.  Some 39 per cent of members of Parliament were women.  Under the new strategy for the prevention of gender-based violence and domestic violence, there were provisions on countering digital violence.

    The police did not keep data on the ethnic affiliations of persons filing reports on excessive use of force by law enforcement. Laws were equally applied when processing all reports.

    Refugees and asylum seekers were housed in open accommodation centres, but were free to leave those centres.  Refugees often transited through the country.  No asylum seekers’ applications had been rejected without reasonable grounds.  The United Nations High Commissioner for Refugees controlled the process of assessing asylum applications.  Asylum seekers who wished to report excessive use of force by the police or challenge decisions on asylum could lodge complaints with the appeals court or the European Court of Human Rights.

    During the COVID-19 pandemic, presidential decrees were issued to enforce a state of emergency.  These decrees did not suspend constitutional rights, beyond enforcing a strict regime regarding movement.  A Constitutional Court ruling that invoked the Covenant had reversed a decision, which had banned certain persons’ from exiting the country.

    Alternative measures to detention, such as house arrest and bail, were applied by the State, and judges were provided with training on these measures.  Remand imprisonment was often stopped on appeal; in 2023, 3.6 per cent of cases were ceased after a court appeal.

    The State party was working to improve legal provisions governing excessive use of force, torture and abuse of office.  New amendments removed the statute of limitations on cases of torture and excessive use of force by the police.  The public prosecutor’s office had investigated 424 cases of excessive use of force by law enforcement officers.

    Questions by Committee Experts

    A Committee Expert said North Macedonia had made huge efforts in combatting trafficking in persons, with a national action plan for 2021 to 2025 and a specific plan addressing child trafficking. Severe penalties had been introduced for the exploitation of children, and measures ensuring the non-punishment of victims and the provision of compensation and shelter had been introduced. There was a rise in the number of victims of trafficking identified in 2021 and reports of ongoing complicity by the police regarding trafficking.  How was this complicity being addressed?  How did the State party ensure victims had access to support and compensation in line with international standards?  How was it addressing the root causes of trafficking, including poverty, lack of education and social marginalisation?  How would the State party enhance identification of adult victims of trafficking?

    The legal framework on political representation had been updated, which had led to increased representation of minority groups in Parliament.  However, there were no representatives of the Roma community.  The Ombudsperson had also reported an increased representation of minorities in the public sector from 2007 to 2020.  There was a lack of funds and staff for the agencies working for the rights of minorities.  How would this be addressed?  How was the State party collecting data on the needs of minorities, and promoting their cultural identities and participation in cultural life?  What measures were in place to promote the Macedonian cultural identity?

    One Committee Expert welcomed that the Constitutional Court passed a decision in 2012 repealing articles of the law on travel documents, granting every citizen the right to freedom of movement. However, several complaints had been filed at the European Court of Human Rights regarding legal limitations on the rights of freedom of movement of the Roma.  In 2023, the Court found that Romani citizens’ freedom of movement had been violated, ordering the State to provide remedies.  What measures were in place to ensure that the right of freedom of movement of the Roma was protected, and that all persons who restricted that right in border areas were held to account?  How had the decision of the European Court of Human Rights been implemented?

    Asylum seekers faced prolonged waits for biometric identification, which restricted their access to basic services.  Reports of detention of asylum seekers were also concerning.  Two temporary transit centres in North Macedonia reportedly operated without State regulation.  How would the State party expedite the issuance of biometric identification to asylum seekers and refugees to facilitate their freedom of movement and access to services?  How would it ensure that detention of asylum seekers was implemented only as a last resort and prevent the detention of women and children asylum seekers?  There were reports of pushbacks of asylum seekers, in violation of the principle of non-refoulement.  Had these incidents been investigated?

    The Committee welcomed several positive measures by the State party to address statelessness, including ratification of the 1963 Statelessness Convention and efforts to provide stateless persons with documentation.  However, there was no official statelessness determination procedure, and some regions had insufficient birth registration systems.  How would the State party strengthen measures to register undocumented persons and ensure that all Roma persons were registered?  Would it establish an effective and fair statelessness determination procedure?

    One Committee Expert asked about the status of the bill amending witness protection measures.  There were significant delays in court cases on corruption and allegations of a lack of transparency in the appointment of judges on the Judicial Council. Could the delegation comment on these issues?  Had implementation of the strategy to strengthen the justice system improved access to justice for marginalised persons?  There was a significant backlog of administrative dispute cases; how was this being addressed?

    A bill on religious groups had been developed which sought to harmonise religious laws with provisions of the Criminal Code and punish antisemitism and the glorification of fascism.  What was the status of this bill?  Had measures been adopted to identify cases of hate speech against religious groups online and punish perpetrators?

    How many journalists had been punished under the law on slander?  There had been an increase in attacks on journalists in recent years; how was the State working to prevent such attacks?  What training was provided to public officials on the right to freedom of expression?  What activities were undertaken by the prosecutor’s office to monitor threats against journalists?

    A Committee Expert asked about legal guarantees offered to persons who were subject to illegal surveillance.  How did judges intervene in such cases?  Was there an exclusion regime in courts for evidence which had been obtained illegally?  What progress had been made in reforming police guidelines related to the collection and treatment of detainees’ data?  What measures were implemented through the State’s digital transformation strategy?

    Another Committee Expert said that in 2024, North Macedonia adopted a law on justice for children that incorporated the best interests of the child.  This was a positive step.  However, only 22 per cent of families with children in North Macedonia were receiving family cash benefits, and more than 7,000 children with disabilities did not receive disability benefits.  What plans were in place to improve social support for children with disabilities and their families?

    What measures were in place to abolish child and forced marriages?  Violence against children remained a problem in the State.  Almost three-quarters of all children were exposed to violent discipline at home, with higher rates for children with disabilities.  Roma children made up 75 per cent of children in correctional facilities, where they were subjected to solitary confinement. What could be done to protect all children in the country?

    It was welcome that measures were taken to improve the accessibility of the voting process for persons with disabilities. How did the State party support the candidacy of persons with disabilities in elections?  What had been done to support undocumented persons and detained persons to exercise their voting rights?  The Constitutional Court had struck down amendments to the electoral code in 2025.  How would the State party ensure that future legal amendments to electoral laws did not infringe on voting rights?

    Responses by the Delegation

    The delegation said the national action plan on trafficking in persons included measures to increase the police’s capacity to address trafficking cases.  The State party applied the principle of non-refoulement for victims of trafficking; it did not forcibly return them to their places of origin.  It was setting up a working group to develop the next iteration of the national action plan on trafficking for 2026 to 2030.  A law on compensation for victims of trafficking was adopted in 2022.  North Macedonia was part of a working group on combatting trafficking in the Western Balkans.  The State conducted awareness raising campaigns on identifying trafficking victims. A roadmap for treating victims of trafficking had also been developed, as had guidelines for their legal representation and reintegration.

    The national strategy on cohesion and multiculturalism included policies promoting culture, education and media representation.  The Ministry for Inter-Community Relations had allocated funds for marking national days for different communities’ celebrations.  The State provided funds to 33 non-governmental organizations to implement activities promoting multiculturalism, ethnic coexistence and minority languages.

    Instruction in primary schools was provided in Macedonian and communities’ local languages, including Albanian, Bosnian and Serbian.  Some 64,000 pupils received instruction in their mother tongues.  All students could learn the minority language of their community, which was taught as an optional subject.  Teaching programmes for Macedonian as a second language had been implemented. The State provided grants to primary and secondary schools to facilitate programmes promoting ethnic harmony. Criteria for developing textbooks written in minority languages had been lowered to facilitate their development.

    Amendments had been made to the Criminal Code to prevent impunity for trafficking crimes.  The criminal procedural law included provisions on the protection of witnesses, which applied to all vulnerable witnesses.  The State party was working to amend this law in line with relevant European Union directives.  The law on witness protection, which was adopted in 2005, was in line with international standards.

    The State party had implemented reforms to the law on surveillance of communications and had established the operative technical agency. These efforts aimed to ensure that regulation of surveillance was in line with international standards.  In 2023, five officers were charged for the destruction of surveillance equipment and were issued prison sentences.

    Amendments to the Criminal Code in 2022 had resulted in the statute of limitations expiring for certain cases related to organised crime and corruption, leading to reduced sentences.  The State party was working to address this shortcoming in its ongoing revision of the Criminal Code.  The average time for the conclusion of administrative cases was 188 days.

    North Macedonia had developed a law prohibiting antisemitism and the glorification of genocide and fascist crimes.  It had also amended the law on the Judicial Council that required the Council to provide explanations for the election of all judges; it would be adopted soon.  The law envisaged the inclusion of non-governmental organizations in the process of electing judges.

    As part of judicial reform efforts, the State had taken steps to address shortcomings in the judiciary that led to cases being passed back and forth between courts, and had set up an electronic case register.  It was also reforming its legal aid system and had provided increased training to legal aid practitioners.

    Recent amendments to the Criminal Code allowed for the ex-officio prosecution of attacks on journalists.  The State had worked to raise the visibility of crimes against journalists and increase punishments for such crimes.  There were four crimes committed against journalists in 2024; all these cases had been prosecuted.  In 2024, there were 15 lawsuits filed against journalists for defamation.  Measures had been implemented to reduce the amount of compensation ordered in these cases, and alternatives to compensation, such as public apologies, were promoted.

    The Ministry of Labour and Social Policy would soon adopt a national action plan on children’s rights, which would address issues such as child poverty and protection from violence.  There was also a strategy for deinstitutionalisation which ensured that no children were placed in institutions; more than 600 children had been placed in foster families.  The State sought to increase healthcare coverage for preschool children.  To combat poverty, the State provided guaranteed minimal child benefits and benefits for children with disabilities and the families that cared for such children.  Measures were in place to support access to the labour market for disadvantaged persons.  Inspections were carried out to identify cases of child abuse and neglect. Amendments to the law on the family were planned to prohibit child marriage.

    The State party was implementing measures to support the participation of persons with disabilities in elections.  North Macedonia had adopted a national strategy on the rights of persons with disabilities and a related action plan. Some 75 experts had been trained to recognise difficulties in child development.  The State party was expanding the network of social protection services for persons with disabilities, including family-based care services.

    In 2018, the State incriminated violence against children, including cyberviolence, which was punished with up to three years imprisonment.  Trafficking of children was considered an aggravating circumstance.  The State party would work to raise public awareness to prevent child marriages.

    Under the national strategy on the Roma, data was collected on areas such as housing and employment.  Around 1.9 per cent of the Roma community was part of the public administration.  All births could be registered, regardless of whether the parents were documented or not. North Macedonia sought to eradicate statelessness.  There were 100 unresolved cases of unregistered persons, but their cases would be resolved through the law on foreigners.  Asylum seekers waited only 15 days to receive identification documents; there were no cases of forced expulsion.  Amended regulations prescribed time limits for keeping biometric materials.

    Follow-Up Questions by Committee Experts

    Committee Experts asked follow-up questions on how biometric data was stored by the police; measures to prevent non-refoulement and to investigate alleged cases of pushbacks, including those involving Greece; efforts to legally recognise religious groups that were not recognised in the Constitution; efforts to implement European Court of Human Rights decisions related to the freedom of movement of Roma individuals; statistics on compensation paid to victims of abuse by law enforcement officials; quotas for representation of women and minority ethnic groups in elections in North Macedonia in 2025 and 2026; the voter turnout rate for the most recent election and mechanisms promoting voter participation; whether the State party had any pending ratifications of international human rights treaties; and whether it investigated reports by non-governmental organizations of pushbacks at the border.

    Responses by the Delegation

    The delegation said there were no recent reports of pushbacks of asylum seekers at the border.  Greek authorities reacted to problems at the border with Greece.  A period had been set for the storage of biometric materials and guidelines had been developed on storage methods.

    The law on witness protection established a witness protection unit within the Ministry of Interior and the Council for Witness Protection.  Witness protection measures included identity changes, which were implemented in cooperation with other countries.

    The judgement of the European Court of Human Rights related to the freedom of movement of Roma persons had been executed. No legislative amendments had been adopted, as legislation allowed for freedom of movement of the Roma.  A law on prevention from discrimination had been adopted, which placed the burden of proof on the alleged perpetrator.  Around 113 civil lawsuits had been filed against the Ministry of Interior related to the freedom of movement; assessment of those cases had been completed.

    The State party had not registered cases of discrimination of the Roma at border crossings.  Persons with expired or damaged travel documents were not allowed to exit the country; this measure applied to all citizens.  Parents were not allowed to take children out of the country if they did not have the permission of the other parent.  Police officers who violated the rights of citizens were prosecuted.  The State party investigated every report of pushbacks that it received, including reports from non-governmental organizations.

    Asylum reception centres accommodated asylum seekers whose applications were being considered and unaccompanied minors, who were provided with special care and immediately appointed social workers as ex-officio guardians.  The State worked to shorten the period of accommodation in such centres.  Asylum seekers’ rights were ensured by the State. They were provided with food, healthcare, sanitation facilities, interpretation services, and free legal aid.

    State law guaranteed religious freedom for all religious groups.  The law envisaged civil oversight of the registration of religious groups. Reasons for not granting registration needed to be provided.  The State party had mechanisms for processing hate speech against religious communities.

    The State party was in the process of ratifying the International Convention for the Protection of All Persons from Enforced Disappearance and the Optional Protocol to the Convention on the Rights of the Child on a communications procedure.  It had harmonised legislation with international standards in 2019 to prohibit solitary confinement of children.

    There had been no explicit application of the Covenant or the Committee’s jurisprudence over the reporting period. The State party would work to strengthen the capacity of the judiciary in this regard.  The Constitutional Court regularly applied the European Convention on Human Rights.

    Closing Statements

    NIKOLA PROKOPENKO, State Counsellor for Criminal Legislation at the Ministry of Justice and head of the delegation, expressed appreciation for the constructive dialogue.  The State party valued the Committee’s efforts in reviewing the application of the Covenant in North Macedonia.  The State faced challenges related to corruption, independence of the judiciary and the protection of marginalised groups.  These challenges tested the State party’s resolve to uphold the human rights of all.  The Committee’s recommendations would be given due consideration and would serve as valuable guidance for strengthening laws and policies.  The review was a step in the State’s ongoing journey toward strengthening human rights protections.  North Macedonia was dedicated to cooperating with the human rights treaty bodies and to promoting justice and rights globally.  The State would leave the dialogue motivated and encouraged to build a more just and equitable human rights-based society.

    CHANGROK SOH, Committee Chairperson, thanked the delegation for its thoughtful and thorough responses to the Committee’s questions.  The dialogue addressed key aspects of implementation of the Covenant. The Committee commended the State’s ratification of international treaties, legal norms on gender-based violence, and policies on gender equality, among other measures.  However, concerns remained related to issues such as hate speech, prison conditions, implementation gaps in protective legislation, and the limited protection framework for asylum seekers.  Mr. Soh closed by expressing sincere gratitude to all those who had contributed to the dialogue.

    __________

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

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    CCPR25.012E

    MIL OSI United Nations News

  • MIL-OSI Europe: Answer to a written question – Infringement of Directive 1999/70/EC on insecure employment in schools – E-001987/2025(ASW)

    Source: European Parliament

    Regarding the first question, the Commission recalls that directive 1999/70[1] requires Member States to adopt effective measures to prevent abuse of successive fixed-term employment contracts but leaves Member States a certain margin of discretion as to how they achieve this objective.

    The Treaties do not confer to the EU competence to adopt binding guidelines on how to prevent abuse of such contracts in the Italian school system .

    Concerning Decree-Law 131/2024, the Commission notes that the provisions on compensation were amended to address the lack of effective measures to penalise abusive use of successive fixed-term contracts.

    As explained in the Commission’s reply to petition 1264/2024, whether national legislation contains sufficient safeguards to prevent such misuse warrants further assessment[2].

    The Commission is notably monitoring, in the context of infringement procedure INFR(2014)4231, the practical effects of recent legislative amendments and recruitment measures aiming to comply with the relevant reforms and targets set out in the National Resilience and Recovery Programme.[3]

    Regarding the third question, the Commission refers to its explanations in reply to petition 1264/2024, noting that EU law does not regulate the recruitment systems that Member States may choose to apply to permanent or support positions.

    The system of teachers’ recruitment remains a responsibility of the Member State in line with the subsidiarity principle.

    • [1] Council Directive 1999/70/EC of 28 June 1999 concerning the framework agreement on fixed-term work concluded by ETUC (European Trade Union Confederation), UNICE (Union of Industrial and Employers’ Confederations of Europe) and CEEP (European Centre of Enterprises with Public Participation) (OJ L 175, 10.7.1999, p. 43) — https://eur-lex.europa.eu/eli/dir/1999/70/oj/eng.
    • [2] This assessment refers, in particular, to the criteria set out in the Mascolo judgment referenced by the honourable member ( Judgment of 26 November 2014 in joined cases C-22/13, C-61/13 to C-63/13 and C-418/13, Mascolo and Others, ECLI:EU:C:2014:2401).
    • [3] Reform of the system for recruiting teachers (M4C1R.21) and target M4C114 to recruit 70 000 teachers by 2026.
    Last updated: 1 July 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Impact of the revised EU Emissions Trading System on household costs – E-001665/2025(ASW)

    Source: European Parliament

    The Commission is aware of this study[1], which shows that in the absence of complementary measures, the annual increase in heating costs for households in the lowest six deciles in Belgium could range from EUR 154 to EUR 261 or 0.8% to 0.6% of total expenditure, and from EUR 53 to EUR 158 or 0.6% to 0.5% for transport costs. These estimations are coherent with the Commission’s impact assessment[2] for the review of the Emissions Trading System (ETS) Directive[3].

    Europe’s reliance on imported fossil fuels causes energy price volatility and higher supply costs. The Commission and Member States are working towards the timely implementation of the new Emission Trading System for buildings and road transport (ETS2) in combination with complementary measures to decouple people’s energy bills from fossil fuel cost volatility.

    The Social Climate Fund (SCF)[4] is designed to address the impact of ETS2 on vulnerable households. For those not eligible under the SCF, Member States also must target the national ETS2 revenues[5] at measures to anticipate and address its effects.

    The Affordable Energy Action Plan[6] aims at lowering energy costs by improving energy efficiency and energy savings and by addressing other aspects of the energy market that influence energy prices.

    The upcoming Citizens Energy Package[7] will focus on activating citizens to produce, sell and use their own energy and on tackling energy poverty.

    As part of the Energy Performance of Buildings Directive[8], Member States are also developing targets, policies and measures and related financing for building renovations that reduce exposure to fossil fuels and alleviate energy poverty. A range of policies are also available for Member States to incentivise electrification and clean technologies.

    • [1] https://energyville.be/wp-content/uploads/2025/04/ETS2-paper_final-15042025.pdf.
    • [2] SWD(2021) 601 final.
    • [3] Directive 2003/87/EC.
    • [4] The SCF amounts to EUR 86.7 billion for the period 2026-2032.
    • [5] National ETS2 revenues are estimated to amount to EUR 270 billion for the period 2027-2030.
    • [6]  COM/2025/79.
    • [7] https://energy.ec.europa.eu/news/citizens-energy-package-commission-starts-consultation-process-2025-06-19_en.
    • [8] Directive (EU) 2024/1275.
    Last updated: 1 July 2025

    MIL OSI Europe News

  • MIL-OSI USA: Issues Revisited: Titles, Amendments to Rule 15c2-12 Undertakings and Voluntary Disclosure

    Source: Securities and Exchange Commission

    Good afternoon. Thank you to the Government Finance Officers Association (“GFOA”) for inviting me to speak with you today. In my role as the Securities and Exchange Commission’s (“Commission” or “SEC”) Director of the Office of Municipal Securities (“Office of Municipal Securities” or “OMS”), I get a front row seat to see how government finance professionals strive to advance the continued integrity of the municipal securities market. However, I also get a front row seat to some concerning behaviors that may impact the investor confidence and transparency of the municipal securities market. 

    As is customary, I must remind you that this speech is provided in my official capacity as the Commission’s Director of the Office of Municipal Securities but does not necessarily reflect the views of the Commission, the Commissioners, or other members of the staff.

    I. What’s in a Title?

    Before I delve into disclosure practices, I would like to start by offering my views on another area of concern to which OMS is paying careful attention. It’s been fifteen years since Congress created a new class of regulated person required to register with the Commission: municipal advisors.[1] But when I speak with market participants or pick up an official statement or visit an issuer’s website, I am regularly confronted with a title that imprecisely[2] reflects the nature of the relationship between municipal entities and/or obligated persons and their advisors: financial advisor.[3]

    While some of you may view using the terms “financial advisor” and “municipal advisor” to be interchangeable when discussing hiring a professional to negotiate terms of a transaction or verify pricing as just a matter of a title, Congress expressly defined those persons who engage in municipal advisory activities[4] as “municipal advisors”.[5]

    I’m going to start with why I think it’s helpful to use regulatory terms. Although not required, using regulatory terms such as “municipal advisor” in solicitations and offering documents is helpful because it clearly indicates to investors that those professionals are subject to the rules and regulations designed to protect investors and municipal entities[6] and obligated persons.[7] Additionally, using defined regulatory terms in these documents may be helpful to municipal entities and obligated persons in avoiding including confusing or ambiguous statements in disclosures to investors.

    Now, for the what. Let’s start with hiring professionals. Municipal entities and obligated persons often retain various professionals through a competitive request for proposal/qualification (“RFP/Q”) process. Before anyone objects, you’re correct: responses to RFP/Qs do not on their own constitute municipal advisory activity.[8] I have, however, observed instances (most notably in public-private partnerships[9] and charter schools[10]) where the work or services requested in the RFP/Qs would require the selected professional to be registered as a municipal advisor because they would be providing advice with respect to the issuance of municipal securities or the use of municipal financial products. In our review of these RFP/Qs, we have either seen municipal entities be silent on requiring that respondents to an RFP/Q be registered as a municipal advisor with the Commission and Municipal Securities Rulemaking Board (“MSRB”) or, worse, affirmatively say that registration as a municipal advisor is not a requirement.[11]

    Given that unregistered entities may be engaging in what appears to be municipal advisory activity, you may want to confirm not only that any professional providing municipal advisory services to you is properly registered[12] but also that you have in your RFP/Qs for services or work constituting municipal advisory activity a requirement that respondents be registered with the Commission and the MSRB as municipal advisors in order to submit a response. At a minimum, I do not believe these RFP/Qs should be soliciting the services of a “financial advisor” or “consultant” which may create the impression that they do not need to be registered with the Commission or the MSRB. If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs.

    Another area where I see a concerning use of “financial advisor,” where “municipal advisor” should be used, is in your offering documents. As previously mentioned, municipal advisor is more than just a title: it is a regulatory term. Using “municipal advisor” tells investors that the firm, its associated persons, and its activities are subject to rules and regulations; that the Commission monitors municipal advisors for compliance; and takes necessary action to enforce Congress’s mandate. If you use municipal advisors in your transactions, I think it would be beneficial to use the defined term “municipal advisor” in your offering documents to accurately describe the professionals fulfilling that role. Using a term that is explicitly defined by law may also help avoid including confusing or ambiguous statements in disclosures to investors.

    There are also strong benefits to being involved with or retaining persons or firms registered and regulated as municipal advisers, as it demonstrates that these persons or firms recognize that they are engaging in municipal advisory activity. Registering as a municipal advisor may also demonstrate that the advisor understands that it has certain legal obligations, including a requirement to register unless an exclusion or exemption applies. These obligations include, among other things, a requirement to disclose to clients any material conflicts of interest. If you remember nothing else from today, remember this: your municipal advisor is required to always act in your best interest.

    II. Observations on Amendments to Continuing Disclosure Undertakings

    Now turning to disclosure practices. When the Commission proposed amendments[13] to Rule 15c2-12 (“Rule 15c2-12” or “Rule”)[14] of the Securities Exchange Act of 1934 (“Exchange Act”) in 1994[15] prohibiting underwriters, subject to certain exemptions, from purchasing or selling municipal securities covered by the Rule in a primary offering, unless the underwriter had reasonably determined that the issuer (or obligated person) had undertaken in a written agreement or contract[16] (“continuing disclosure undertaking”) to provide specified annual information and event notices,[17] practitioners expressed concern[18] that the amendments were not sufficiently flexible to address changing conditions to financial and pertinent operating information. The Commission addressed practitioners’ concerns when it adopted the amendments.[19]

    a. NABL 1 Letter

    The Commission explained in the 1994 Amendments Adopting Release that Rule 15c2-12, as amended, requires that continuing disclosure undertakings specify only the general type of information to be provided[20] and that undertakings should be drafted with sufficient flexibility to accommodate for subsequent developments that may require adjustments in the financial information and operating data contractually agreed upon in the undertaking.[21] Shortly after adoption of the amendments, the National Association of Bond Lawyers (“NABL”) requested[22] staff guidance interpreting an issue that I see continues to be debated thirty-one years later: amending continuing disclosure undertakings.

    Let’s take a moment and revisit the statements made by staff on amending continuing disclosure undertakings in response to the NABL 1 Letter.[23] Staff first noted that in meeting the requirement that annual financial information be specified in reasonable detail, staff anticipated that continuing disclosure undertakings would set forth a general description of the type of financial information and operating data that would be provided. Staff further observed that these descriptions would not need to state more than a general category of financial information and operating data. Moreover, staff noted that where a continuing disclosure undertaking calls for information that no longer can be generated because the operations to which it related had been materially changed or discontinued, a statement to that effect would satisfy the continuing disclosure undertaking. In such instances, staff explained that it may be good practice to provide similar operating data with respect to any substitute or replacement operation. Further, staff noted that issuers and obligated persons may provide additional information that is not required by the terms of the undertaking. Accordingly, the staff did not anticipate that it often would be necessary to amend informational undertakings.

    In addition to providing guidance on the circumstances under which an undertaking could be amended, the staff also provided several examples[24] of annual financial information descriptions. For example, categories of operating data provided for a college or university facility bond offering might include, among others, information regarding attendance, applications, and tuition and room and board rates charged to students. In a water or sewer financing, categories of information provided might include, among others, customers, rates, use, capacity, and demand.

    b. Current State of Continuing Disclosure Undertakings

    Now I would like to take the opportunity to reflect on the current state of continuing disclosure undertakings. Since the 1994 amendments promoted flexibility in drafting continuing disclosure undertakings, staff has heard that practitioners have discovered ambiguities and inconsistencies in their continuing disclosure undertakings that have resulted in overlapping, inconsistent, and outdated information in required disclosures. Consequently, practitioners continue to struggle with questions about amending continuing disclosure undertakings and have asked the staff for guidance on this issue.

    To start, I want to remind practitioners that Rule 15c2-12, as amended, offers flexibility in the content and scope of disclosed financial information.[25] The Rule specifies only general types of information relating to the financial information and operating data to accommodate for any subsequent developments that would require adjustments to the data.[26] Further, adhering to your continuing disclosure undertakings does not preclude you from providing additional information, particularly where disclosure may be necessary to avoid liability under the antifraud provisions.[27]

    The staff recognizes that, despite the staff interpretive guidance in the NABL 1 Letter, which elaborated on statements in the 1994 Amendments Adopting Release, some obligated persons have continued to provide specific and relatively unflexible descriptions of annual financial information or operating data in the continuing disclosure undertakings by, for instance, pointing to specific tables of information in an official statement because they believe it makes it easier for issuers and dissemination agents to comply with the undertaking. Although Rule 15c2-12 does not prohibit such specificity or incorporation by reference,[28] I believe that where obligated persons choose to include references to specific tables or similar specificity, they might consider including language allowing for flexibility, such as describing tables “of the type” or tables “of the kind” provided in the official statement.

    The inclusion in continuing disclosure undertakings of clear descriptions of the disclosures to be made by municipal issuers and obligated persons promotes a more transparent and efficient market. However, drafters of continuing disclosure undertakings may want to be mindful when specifying the particular types of information that will be provided for many years into the future, as continuing disclosure undertakings are contractual obligations that cannot be amended based on a unilateral decision by an issuer or any other party. With very limited exceptions, issuers and obligated persons may not later decide unilaterally what types of information an investor would consider necessary or meaningful, especially where such information has previously been agreed upon.[29]

    Continuing disclosure undertakings would be meaningless if issuers and obligated persons could unilaterally determine that certain types of information were no longer necessary or meaningful to investors.[30] Despite previous requests from the market for guidance on amending continuing disclosure agreements, I remind you that those agreements are contracts governed by state law[31] from which the Commission does not have the authority to provide exemptions. Failure to comply with continuing disclosure undertakings would be breaches of contract enforceable by private parties.[32] This is why staff statements have focused on using language in continuing disclosure agreements that allow for changing conditions.

    III. The Importance of Voluntary Disclosure in the Municipal Securities Market

    Sound, timely, and accurate disclosures of the financial condition and operating status of issuers and obligated persons promotes the continued integrity of the municipal securities market.[33] As we all know, Rule 15c2-12 requires that continuing disclosure undertakings set forth certain enumerated requirements. Rule 15c2-12 does not generally impose an obligation to provide ongoing information beyond the contractual continuing disclosure obligations. I am of the view, however, that voluntary disclosures[34] — providing information beyond contractual continuing disclosure obligations — by issuers and obligated persons can provide market participants with updated financial and other disclosures regarding the effects of evolving economic conditions.[35]

    a. Improving Transparency and Market Efficiencies

    Issuer organizations and other market participants have noted that providing voluntary interim disclosure can serve the interests of municipal issuers and have developed voluntary disclosure best practices designed to improve the quality and quantity of voluntary disclosure in the secondary market.[36] GFOA issued a Best Practices on Voluntary Disclosure in 2021.[37]

    I am of the view that if issuers and obligated persons provide voluntary disclosures of their financial condition and operating status on a more frequent basis, the additional information could potentially reduce information asymmetries and help investors and other market participants identify early warning signs of an issuer’s or obligated person’s deteriorating financial condition sooner (such as budget deficits and imbalances, high unfunded pensions liability, and decreases in property value), which could lead to increased market efficiencies.

    Some examples of helpful voluntary disclosures that municipal issuers and obligated persons could consider disseminating are[38]

    • More Timely Financial Information. Municipal issuers routinely prepare periodic reports containing financial information and/or operating data, such as investment positions, interim financial information, or capital improvement plans, for various non-disclosure purposes,[39] which are generally produced in accordance with governance documents, best practices, and generally accepted guidelines. Municipal issuers could consider submitting such reports via the repository designated by the Commission (currently the MSRB’s Electronic Municipal Market Access (“EMMA”) system) and/or through their own designated website.
    • Reports Prepared for Other Governmental Purposes. Municipal issuers and obligated persons may have prepared reports addressing relevant climate, cybersecurity, litigation, or other risks for other purposes.
    • Reports and Information Shared with Third Parties. Reports prepared to be shared with rating agencies, bank loan providers or other market participants may also include information material to investors.[40]
    • Information Regarding Availability of Federal, State and Local Aid. If it materially affects, or is reasonably likely to materially affect, your ability to repay debt service, you could make available a description of available aid that you have sought or are planning on seeking and any other material terms of the aid to investors.
    • Information Regarding Non-Routine Events that May Impact an Issuer’s Ability to Repay Securities. For instance, a large business relocating to your jurisdiction may have a positive impact, while a natural disaster may have a negative impact. Sharing information with the market on any non-routine events that may impact your ability to repay debt service could be helpful.

    In my view, making any voluntary disclosures available in the place or places where they regularly make information available to investors, such as on the EMMA system and/or on their own websites, would be helpful to both issuers and investors.

    b. Observations on Liability

    I sometimes hear from issuers that they would disclose more information to the market, but that their counsel advises them, as a matter of course, not to provide any information that is not required. I recognize that the issue of liability is often raised in connection with voluntary disclosures.

    I believe that accompanying voluntary disclosures that contain projections or forward-looking statements with meaningful cautionary language — including, for example, (1) a description of relevant facts or assumptions affecting the reasonableness of reliance on and the materiality of the information provided, (2) a description of how certain important information may be incomplete or unknown, and (3) the process or methodology (audited versus unaudited) used by the municipal issuer or obligated person to produce the information — could not only improve the quality of the disclosure but also help mitigate associated legal risks.

    As I observe the municipal securities market and consider appropriate paths to address behaviors that impact investor confidence and transparency, I believe that it would be beneficial for municipal issuers to disclose, to exercise reasonable care, and to follow best practices in the creation and release of any voluntary disclosure.

    It’s always a pleasure to speak with members of the GFOA. Thank you again for the invitation to discuss these important issues with you today.


    [1]           See Section 975(a)(1)(B) (15 U.S.C. 78o-4(a)(1)(B)) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act” or “Dodd-Frank”).

    [3]           While state statutes or other governing documents may reference the selection or designation of a “financial advisor” in connection with the issuance of bonds, I am of the view that the term “municipal advisor” should also be used in any RFP/Qs and offering documents issued in these jurisdictions when the requested service may include municipal advisory activity. In the event a state statute or other governing document references “financial advisor” or other term, it may be appropriate to use both terms with appropriate definitions and cross-references.  

    [4]           Pursuant to Exchange Act Rule 15Ba1-1(e) (15 CFR 240.15Ba1-1(e)), “municipal advisory activities” includes, but is not limited to, “[p]roviding advice to or on behalf of a municipal entity or obligated person with respect to municipal financial products or the issuance of municipal securities, including advice with respect to the structure, timing, terms, and other similar matters concerning such financial products or issue.”

    [5]           See Exchange Act Section 15B(e)(4)(A) (15 U.S.C. 78o-4(e)(4)(A)). The definition of municipal advisor includes financial advisors, guaranteed investment contract brokers, third-party marketers, placement agents, solicitors, finders, and swap advisors that provide municipal advisory services, unless they are statutorily excluded. See 15 U.S.C. 78o-4(e)(4)(B). The statutory definition of municipal advisor excludes a broker, dealer, or municipal securities dealer serving as an underwriter (as defined in section 77b(a)(11) of this title), any investment adviser registered under the Investment Advisers Act of 1940 (15 U.S.C. 80b-1 et seq.), or persons associated with such investment advisers who are providing investment advice, any commodity trading advisor registered under the Commodity Exchange Act or persons associated with a commodity trading advisor who are providing advice related to swaps, attorneys offering legal advice or providing services that are of a traditional legal nature, or engineers providing engineering advice. See 15 U.S.C. 78o-4(e)(4)(C). The Commission exempts the following persons from the definition of municipal advisor to the extent they are engaging in the specified activities: accountants; public officials and employees; banks; responses to requests for proposals or qualifications; swap dealers; participation by an independent registered municipal advisor; persons that provide advice on certain investment strategies; certain solicitations. See Exchange Act Rule 15Ba1-1(d)(3)(i) through (viii) (17 CFR 240.15Ba1-1(d)(3)(i) through (viii)).

    [6]           See Registration of Municipal Advisors, Exchange Act Release No. 70462 (Sept. 20, 2013), 78 FR 67468, 67509 (Nov. 12, 2013) (“Municipal Advisor Adopting Release”).

    [7]           The timeline for being required to register as a municipal advisor when advising clients about conduit financing or other financing options is dependent on certain facts and circumstances. See id. at 67485.

    [8]           Id. at 67475.

    [11]         While the Dodd-Frank Act is a federal law, the municipal advisor registration requirements apply to advice with respect to the issuance of municipal securities regardless of the proposed source of funds used to repay those securities, which may include local tax revenue, state or federal revenue or grants or funds paid by a private lessee or purchaser. The staff is aware of publicly available documents where a state or local government has stated that municipal advisor registration is only required for municipal securities being repaid with federal funds.

    [12]         See Speech, Responsibilities of Regulated Entities to Municipal Issuers, supra note 2.

    [13]         See Exchange Act Release No. 33742 (Mar. 9, 1994), 59 FR 12759 (Mar. 17, 1994) (“1994 Amendments Proposing Release”).

    [14]         See 17 CFR 240.15c2-12. The Commission adopted Rule 15c2-12 in 1989 to enhance disclosure in the   municipal securities market by codifying standards for underwriters to obtain, review, and disseminate disclosure documents. See Exchange Act Release No. 26100 (Sept. 22, 1988), 53 FR 37778 (“1988 Proposing Release”); Exchange Act Release No. 26985 (June 28, 1989), 54 FR 28799 (July 10, 1989) (“1989 Adopting Release”). Rule 15c2-12 requires an underwriter acting in primary offerings of municipal securities with an aggregate principal amount of $1,000,000 or more to obtain and review an official statement “deemed final” by an issuer of the municipal securities, except for the omission of specified information, prior to making a bid, purchase, offer, or sale of municipal securities. See 17 CFR 240.15c2-12(a) and (b)(1).

    [15]         The Commission has amended Rule 15c2-12 over the years to respond to evolving market practices. See Exchange Act Release No. 34961 (Nov. 10, 1994), 59 FR 59590 (Nov. 17, 1994) (“1994 Amendments Adopting Release”); Exchange Act Release No. 59062 (Dec. 5, 2008), 73 FR 76104 (Dec. 15, 2008) (“2008 Amendments Adopting Release”); Exchange Act Release No. 62184A (May 27, 2010), 75 FR 33100 (June 10, 2010) (“2010 Amendments Adopting Release”); and Exchange Act Release No. 83885 (Aug. 20, 2018), 83 FR 44700 (Aug. 31, 2018) (“2018 Amendments Adopting Release”).

    [16]         See 17 CFR 240.15c2-12(b)(5).

    [17]         See 17 CFR 240.15c2-12(b)(5)(C).

    [18]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599.

    [19]         Id.

    [20]         Id.

    [21]         Id.

    [22]         NABL raised several questions in its letters. See Letter from Robert L.D. Colby, Deputy Director, Division of Market Regulation, U.S. Securities and Exchange Commission, to John S. Overdorff, Chair, and Gerald J. Laporte, Vice-Chair, Securities Law and Disclosure Committee, National Association of Bond Lawyers, dated June 23, 1995 (‘‘NABL 1 Letter”), available at https://www.sec.gov/info/municipal/nabl-1-interpretive-letter-1995-06-23.pdf; and Letter from Catherine McGuire, Chief Counsel, Division of Market Regulation, U.S. Securities and Exchange Commission, to John S. Overdorff, Chair, Securities Law and Disclosure Committee, National Association of Bond Lawyers, dated Sept. 19, 1995 (“NABL 2 Letter”), available at https://www.sec.gov/info/municipal/nabl-2-interpretive-letter-1995-09-19.pdf. See also Letter from Michael Nicholas, Chief Executive Officer, Bond Dealers of America, Emily Swenson Brock, Director, Federal Liaison Center, Government Finance Officers Association, Kenneth R. Artin, President, National Association of Bond Lawyers, Cornelia Chebinou, Washington Director, National Association of State Auditors, Comptrollers and Treasures, Michael Decker, Managing Director, Securities Industry and Financial Markets Association, to Jessica Kane, Director, Office of Municipal Securities, U.S. Securities and Exchange Commission, dated Aug. 9, 2016 available at https://www.nabl.org/wp-content/uploads/2023/02/20160809-Joint-Letter-on-Amending-CDAs.pdf.

    [23]         See NABL 1 Letter, Question 2, supra note 22.  

    [24]         Id.

    [25]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599; Securities and Exchange Commission, Report on the Municipal Securities Market (July 31, 2012) (“Report on the Municipal Securities Market”), at 70, available at https://www.sec.gov/news/studies/2012/munireport073112.pdf.

    [26]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599 (Commission noting that “the amendments require that the undertaking specify only the general type of information to be supplied . . .”).

    [27]         Id.

    [28]         Id.

    [29]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599. But see NABL 1 Letter, Question 2, supra note 22, outlining scenarios where an undertaking that includes an amendment provisions nevertheless may satisfy the requirements of Rule 15c2-12.

    [30]         See 1994 Amendments Adopting Release, supra note 15, 59 FR at 59599.

    [31]         Id. at 59601.

    [32]         Id. (“remedies for breach of any undertaking under applicable state law are a subject for negotiation between the parties to the Offering.”).

    [33]         See Exchange Act Release No. 33741 (Mar. 9, 1994), 59 FR 12748, 12752-754 (Mar. 17, 1994) (“1994 Interpretive Release”).

    [34]         As seen during the Covid-19 Pandemic, variations in voluntary disclosures persisted and the differing approaches to disclosure served as a reminder that required disclosures are not confined to enumerated events. For instance, some issuers included tailored, stand-alone COVID-19-risk sections in their disclosures or uploaded financial informational statements to EMMA identifying impacts on economies and revenues, and expectations regarding associated risk mitigation. See, e.g., MSRB, Municipal Securities Market COVID-19-Related Disclosure Summary (updated Mar. 28, 2021), available at https://www.msrb.org/sites/default/files/2022-09/Municipal-Securities-Market-COVID-19-Related-Disclosure-Summary.pdf; DPC Data COVID Disclosure Trends Charted in New Infographic, A Year of COVID-Tagged Disclosures, Mar. 2020 to Mar. 2021, available at https://www.dpcdata.com/resources/year-covid-tagged-disclosures/. 

    [35]         See, e.g., Report on the Municipal Securities Market, supra note 25, at III.A.1 and III.B (summarizing market participant and investor interest in voluntary disclosure guidelines and best practices to improve the level and quality of disclosure in the primary and secondary markets); Chairman Jay Clayton and Rebecca Olsen, Director, Office of Municipal Securities, U.S. Securities and Exchange Commission, The Importance of Disclosure for our Municipal Markets (May 4, 2020) (the “Municipal Market COVID-19 Statement”), available at https://www.sec.gov/news/public-statement/statement-clayton-olsen-2020-05-04.

    [36]         See, e.g., Government Finance Officers Association (“GFOA”) Best Practices Voluntary Disclosure (Oct. 1, 2021) (“Best Practices on Voluntary Disclosure”), available at https://www.gfoa.org/materials/voluntary-disclosure (“Enhanced market communication achieved through voluntary disclosure the issuer to improve its investor relations. This enhanced communication and improved relations with investors can become an important factor for access to the capital for markets….”); National Federation of Municipal Analysts (“NFMA”) Position Paper on Voluntary Interim Disclosures by State and Local Governments (Oct. 26, 2004) (“NFMA Voluntary Interim Disclosures Paper”), at 2-4, available at https://www.nfma.org/assets/documents/nfma_position_interim_disclosure.pdf (NFMA “strongly believe(s) that it is in the best interest of state and local government units and political instrumentalities thereof to provide investors on a voluntary basis with timely disclosure reports derived from information maintained in the normal course of operations” and that “[t]o the extent that governmental issuers have relevant financial information on hand, the benefits of providing voluntary interim disclosure vastly outweigh any administrative burden entailed in disseminating this information to the market.”)

    [37]         See Best Practices on Voluntary Disclosure, supra note 36.

    [38]         See, e.g., id.; Report on the Municipal Securities Market, supra note 25, at 58 (noting that the “practices of market participants in voluntarily providing [large amounts of information about issuers of municipal securities] to investors are not, however, consistent,” further explaining that “[l]arge repeat issuers generally have more comprehensive disclosure than small, infrequent or conduit issuers, who may voluntarily provide little ongoing information to investors.”).

    [39]         In many cases, municipal issuers already prepare and disseminate reports or other documents containing financial information and/or operating data to various governmental or institutional bodies, or to the public. See, e.g., Application of Antifraud Provisions to Public Statements of Issuers and Obligated Persons of Municipal Securities in the Secondary Market: Staff Legal Bulletin No. 21 (OMS) (Feb. 7, 2020) (“Staff Legal Bulletin No. 21”), available at https://www.sec.gov/municipal/application-antifraud-provisions-staff-legal-bulletin-21; Report of Investigation in the Matter of the City of Harrisburg, Pa. Concerning the Potential Liability of Public Officials with Regard to Disclosure Obligations in the Secondary Market, Exchange Act Release No. 69516 (May 6, 2013), (“Harrisburg Report”), available at https://www.sec.gov/litigation/investreport/34-69516.htm.

    [40]         See Report on the Municipal Securities Market, supra note 25, at 106 n.640.

    MIL OSI USA News

  • MIL-OSI Europe: REPORT on implementation and delivery of the Sustainable Development Goals in view of the 2025 High-Level Political Forum – A10-0125/2025

    Source: European Parliament

    MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

    on implementation and delivery of the Sustainable Development Goals in view of the 2025 High-Level Political Forum

    (2025/2014(INI))

    The European Parliament,

     having regard to Article 3(5) of the Treaty on European Union and Articles 13 and 208(1) of the Treaty on the Functioning of the European Union,

     having regard to Decision (EU) 2022/591 of the European Parliament and of the Council of 6 April 2022 on a General Union Environment Action Programme to 2030[1],

     having regard to the joint statement by the Council and the representatives of the governments of the Member States meeting within the Council, the European Parliament and the Commission of 30 June 2017 on the New European Consensus on Development – ‘Our world, our dignity, our future’[2],

     having regard to its resolution of 8 September 2015 on the follow-up to the European Citizens’ Initiative Right2Water[3] and its resolution of 5 October 2022 on access to water as a human right – the external dimension[4],

     having regard to its resolution of 28 November 2019 on the climate and environment emergency,[5]

     having regard to its resolution of 9 June 2021 on the EU Biodiversity Strategy for 2030: Bringing nature back into our lives[6],

     having regard to its resolution of 6 July 2022 on the EU action plan for the social economy[7],

     having regard to the UN General Assembly resolution of 27 March 2023 entitled ‘Promoting the Social and Solidarity Economy for Sustainable Development’,

     having regard to the resolution of the International Labour Organization concerning decent work and the care economy, adopted at the 112th International Labour Conference on 14 June 2024,

     having regard to its resolution of 6 July 2022 on addressing food security in developing countries[8],

     having regard to its resolution of 24 November 2022 on the future European Financial Architecture for Development[9],

     having regard to its resolution of 14 March 2023 on Policy Coherence for Development[10],

     having regard to its resolution of 23 June 2023 on the implementation and delivery of the Sustainable Development Goals (SDGs)[11],

     having regard to its recommendation of 19 December 2024 to the Council concerning the EU priorities for the 69th session of the UN Commission on the Status of Women[12],

     having regard to its resolution of 11 April 2024 on including the right to abortion in the EU Fundamental Rights Charter[13],

     having regard to its resolution of 24 June 2021 on the situation of sexual and reproductive health and rights in the EU, in the frame of women’s health[14],

     having regard to the Commission staff working document of 18 November 2020 entitled ‘Delivering on the UN’s Sustainable Development Goals – A comprehensive approach’ (SWD(2020)0400),

     having regard to the Commission staff working document of 3 November 2021 entitled ‘Better Regulation Guidelines’ (SWD(2021)0305) and to the Better Regulation Toolbox of July 2023,

     having regard to the integration of the SDGs into the better regulation framework, including the Commission communication of 29 April 2021 entitled ‘Better regulation: Joining forces to make better laws’ (COM(2021)0219),

     having regard to the Council conclusions of 26 May 2015 on poverty eradication and sustainable development after 2015,

     having regard to the Council conclusions of 24 October 2019 on the Economy of Wellbeing[15] and the Council conclusions of 24 June 2024 on EU priorities at the United Nations during the 79th session of the United Nations General Assembly, September 2024 – September 2025,

     having regard to the Council conclusions of 22 June 2021 entitled ‘A comprehensive approach to accelerate the implementation of the UN 2030 Agenda for sustainable development – Building back better from the COVID-19 crisis’,

     having regard to the Council recommendation of 16 June 2022 on Learning for the Green transition and sustainable development,

     having regard to the Council conclusions of 21 June 2022 entitled ‘The transformative role of education for sustainable development and global citizenship as an instrumental tool for the achievement of the sustainable development goals (SDGs)’,

     having regard to the Council conclusion of 24 June 2024 on EU development aid targets,

     having regard to the Commission communication of 11 December 2019 entitled ‘The European Green Deal’ (COM(2019)0640),

     having regard to the Commission communication of 11 March 2020 entitled ‘A new Circular Economy Action Plan – For a cleaner and more competitive Europe’ (COM(2020)0098),

     having regard to the Commission communication of 12 May 2021 entitled ‘Pathway to a Healthy Planet for All – EU Action Plan: Towards Zero Pollution for Air, Water and Soil’ (COM(2021)0400) and its annexes,

     having regard to the report of the European Environment Agency and the Commission’s Joint Research Centre of 3 March 2025 entitled ‘Zero pollution monitoring and outlook 2025’,

     having regard to the Commission communication of 23 February 2022 on decent work worldwide for a global just transition and sustainable recovery (COM(2022)0066),

     having regard to the Commission communication of 12 March 2024 entitled ‘Managing climate risks – protecting people and prosperity’ (COM(2024)0091),

     having regard to the Commission communication of 26 February 2025 entitled ‘The Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation’ (COM(2025)0085),

     having regard to the Commission communication of 7 March 2025 entitled ‘A Roadmap for Women’s Rights’ (COM(2025)0097),

     having regard to the mission letters from Commission President Ursula von der Leyen to the 26 European Commissioners,

     having regard to the European Environment Agency report of 4 December 2019 entitled ‘The European environment – state and outlook 2020: Knowledge for transition to a sustainable Europe’,

     having regard to the EU Global Health Strategy,

     having regard to the EU Gender Action Plan III (GAP III),

     having regard to the EU Biodiversity Strategy for 2030,

     having regard to the European care strategy,

     having regard to the EU’s first voluntary review of SDG implementation, presented to the United Nations on 19 July 2023,

     having regard to Eurostat’s 2024 monitoring report on progress towards the SDGs in an EU context, published on 18 June 2024,

     having regard to the opinions of the European Economic and Social Committee of 19 September 2018 entitled ‘Indicators better suited to evaluate the SDGs – the civil society contribution’, of 30 October 2019 entitled ‘Leaving no one behind when implementing the 2030 Sustainable Development Agenda’, and of 8 December 2021 entitled ‘Renewed sustainable finance strategy’,

     having regard to UN Resolution 70/1 entitled ‘Transforming our World – the 2030 Agenda for Sustainable Development’ (2030 Agenda), adopted at the UN Sustainable Development Summit on 25 September 2015 in New York and establishing the SDGs,

     having regard to the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW) for Youth,

     having regard to the UN Convention on Biological Diversity (UNCBD) and the Kunming-Montreal Global Biodiversity Framework, agreed at the 15th meeting of the Conference of Parties to the UNCBD,

     having regard to the United Nations Convention on the Rights of Persons with Disabilities (CRPD) and the EU Strategy on the Rights of Persons with Disabilities 2021-2030,

     having regard to the Sendai Framework for Disaster Risk Reduction 2015-2030, adopted by UN member states at the Third UN World Conference on Disaster Risk Reduction on 18 March 2015,

     having regard to the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement adopted at the 21st Conference of the Parties to the UNFCCC (COP21) in Paris on 12 December 2015,

     having regard to the United Nations Decade of Ocean Science for Sustainable Development (2021–2030),

     having regard to the Buenos Aires Commitment, which charts a path forward on a care society, adopted at the 15th Regional Conference on Women in Latin America and the Caribbean, which was organised by the Economic Commission for Latin America and the Caribbean, the Regional Office for the Americas and the Caribbean of the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) and the Government of Argentina and held in Buenos Aires from 7 to 11 November 2022,

     having regard to the 2024 joint report entitled ‘Are we getting there? A synthesis of the UN system evaluations of SDG 5’, published by UN Women, the UN Development Programme, the UN Population Fund, the UN Children’s Fund and the World Food Programme,

     having regard to the agreement under the United Nations Convention on the Law of the Sea on the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction (BBNJ) of 4 March 2023 (UN High Seas Treaty),

     having regard to the Declaration on the Elimination of Violence against Women,

     having regard to the Gender Equality Index 2024 of the European Institute for Gender Equality,

     having regard to the Beijing Platform for Action and the outcomes of its review conferences,

     having regard to UN Human Rights Council resolution 48/13, adopted on 8 October 2021, and UN General Assembly resolution 76/300, adopted on 28 July 2022, on the human right to a clean, healthy and sustainable environment and to Parliamentary Assembly of the Council of Europe resolution 2545 (2024), adopted on 18 April 2024, on mainstreaming the human right to a safe, clean, healthy and sustainable environment with the Reykjavik process,

     having regard to the United Nations Environment Assembly (UNEA) resolution ‘5/10. The environmental dimension of a sustainable, resilient and inclusive post-COVID-19 recovery’, adopted on 2 March 2022,

     having regard to the UN Global Sustainable Development Report 2019, entitled ‘The Future is Now: Science for Achieving Sustainable Development’,

     having regard to the UN Secretary-General’s report entitled ‘Our Common Agenda’, presented to the UN General Assembly, and to the mandate that UN General Assembly Resolution 76/6 of 15 November 2021 gave the UN Secretary-General to follow up on his report,

     having regard to the UN Sustainable Development Report 2021, entitled ‘The Decade of Action for the Sustainable Development Goals’, and the UN Sustainable Development Report 2022, entitled ‘From Crisis to Sustainable Development: the SDGs as Roadmap to 2030 and Beyond’,

     having regard to the UN Sustainable Development Goals Report 2024,

     having regard to the 2018 Intergovernmental Panel on Climate Change (IPCC) special report on global warming of 1.5 ºC, its special report on climate change and land, its special report on the ocean and cryosphere in a changing climate and its sixth assessment report (AR6),

     having regard to the global assessment report of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) of 25 November 2019 on biodiversity and ecosystem services, and its latest nexus and transformative change assessment reports,

     having regard to the United Nations Environment Programme (UNEP) report of 18 February 2021 entitled ‘Making Peace with Nature: a scientific blueprint to tackle the climate, biodiversity and pollution emergencies’,

     having regard to the UN Department of Economic and Social Affairs’ publication of January 2022 entitled ‘SDG Good Practices: A compilation of success stories and lessons learned in SDG implementation – Second Edition’,

     having regard to the Organisation for Economic Co-operation and Development (OECD) report of 10 November 2022 entitled ‘Global Outlook on Financing for Sustainable Development 2023: No Sustainability Without Equity’,

     having regard to the Human Development Report 2023/24 entitled ‘Breaking the Gridlock: Reimagining cooperation in a polarized world’,

     having regard to the report of the UN Inter-agency Task Force on Financing for Development of April 2024, entitled ‘Financing for Sustainable Development Report 2024: Financing for Development at a Crossroads’,

     having regard to the initiative by the UN Secretary-General ‘SDG Stimulus to Deliver Agenda 2030’ of February 2023,

     having regard to the Bridgetown Initiative launched on 23 September 2022,

     having regard to the One Health Initiative of the World Health Organization (WHO) and the One Health Joint Action Plan (2022-2026) of the WHO, the UN Food and Agriculture Organization (FAO), the World Organisation for Animal Health, and the UNEP,

     having regard to the WHO’s 2024 progress report on the Global Action Plan for Healthy Lives and Well-being for All,

     having regard to the Spotlight Initiative to eliminate violence against women and girls,

     having regard to the FAO’s Voluntary Guidelines for Securing Sustainable Small-Scale Fisheries in the Context of Food Security and Poverty Eradication,

     having regard to the Summit for a New Global Financial Pact which took place in Paris in June 2023,

     having regard to the 2023 SDG Summit which took place in September 2023, during the United Nations General Assembly high-level week,

     having regard to the Summit of the Future which took place on 22 and 23 September 2024 in New York, its outcome, the Pact for the Future, which pledges 56 actions to accelerate and finance sustainable development, and its two annexes, the Global Digital Compact and the Declaration on Future Generations,

     having regard to the 4th International Conference on Financing for Development that will take place in Seville, Spain, from 30 June to 3 July 2025,

     having regard to the Sustainable Development Solutions Network report of January 2025 entitled ‘Europe Sustainable Development Report 2025: SDG Priorities for the New EU Leadership’,

     having regard to the ‘SDG Acceleration Actions’ online database,

     having regard to the existing national and regional initiatives that encourage the fulfilment of the Sustainable Development Goals,

     having regard to Rule 55 of its Rules of Procedure,

     having regard to the joint deliberations of the Committee on Development and the Committee on the Environment, Climate and Food Safety under Rule 59 of the Rules of Procedure,

     having regard to the report of the Committee on Development and the Committee on the Environment, Climate and Food Safety (A10-0125/2025),

    A. whereas the 2030 Agenda and the 17 integrated SDGs, including their 169 targets and 247 indicators, represent the only globally shared and politically agreed framework for evidence-based policies to address common challenges and achieve sustainable development in its three dimensions – economic, social and environmental – in a balanced and integrated manner;

    B. whereas UN member states have committed to achieving the SDGs by 2030; whereas only 17 % of SDG targets are on track, nearly half are showing minimal or moderate progress, and progress on over a third has stalled or even regressed below 2015 baseline levels; whereas the important steps already made in crucial fields highlight the need for urgent action to reverse this alarming trend and should act as an incentive to implement the SDGs in full;

    C. whereas the implementation of the 2030 Agenda implies that economic development goes hand in hand with social justice, good governance and respect for human rights; whereas the consequences of the COVID-19 pandemic, the new geopolitical landscape, escalating conflicts, geopolitical tensions, the transgression of planetary boundaries, increasing dependencies on raw materials and critical minerals, the negative effects of climate change and biodiversity loss, and multiple crises in various areas are severely affecting progress towards the achievement of the SDGs;

    D. whereas the number of additional people in extreme poverty in the world’s poorest countries is estimated to reach 175 million by 2030, including 89 million women and girls[16]; whereas people with disabilities are more vulnerable to poverty due to reduced employment and education opportunities, lower wages and higher living costs; whereas further collective action is urgently needed to respond to poverty;

    E. whereas the SDGs, being universal and indivisible, are applicable to all actors, including civil society and social partners, and to both the public and private sectors; whereas these actors should be systematically involved in devising and implementing policies related to the SDGs; whereas the commitment of the private sector to the SDGs offers the possibility of increasing the scale of development actions and their sustainability by creating jobs, stimulating economic growth and eliminating poverty;

    F. whereas the EU has underlined its unequivocal commitment to the 2030 Agenda and its SDGs; whereas progress towards achieving SDG targets is uneven across European countries and many dimensions of sustainable development have not shown significant progress in the past decade, with increasing levels of poverty and an increasing level of inequality between and within countries being a threat to sustainable development; whereas the latest progress monitoring report of the 8th Environment Action Programme shows that for a majority of the indicators the EU is not on track to meet the targets[17]; whereas the Commission has acknowledged that more progress is needed on many SDGs at EU level, and that accelerating the SDGs’ implementation is more urgent than ever, with a particular focus on vulnerable people;

    G. whereas the Commission has not yet devised an overarching strategy for the implementation of the 2030 Agenda at EU level or a financing plan for the SDGs; whereas Commission has committed to taking a ‘whole-of-government’ approach to SDG implementation and its work programme should foster the realisation of the 2030 Agenda; whereas the EU should set a good example for ensuring the prosperity for present and future generations globally;

    H. whereas the 2025 High-Level Political Forum (HLPF) will be convened from 14 to 23 July 2025 under the auspices of the Economic and Social Council; whereas the 2025 HLPF will focus on advancing sustainable, inclusive, science- and evidence-based solutions for the 2030 Agenda and its SDGs, aiming to leave no one behind; whereas it will conduct in-depth reviews of SDG 3 (Ensure healthy lives and promote well-being for all at all ages), SDG 5 (Achieve gender equality and empower all women and girls), SDG 8 (Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all), SDG 14 (Conserve and sustainably use the oceans, seas and marine resources); and SDG 17 (Revitalize the global partnership for sustainable development);

    I. whereas health is an indispensable foundation for peoples’ well-being; whereas health is a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity[18]; whereas the COVID-19 pandemic alone has eliminated a decade of progress in global levels of life expectancy[19]; whereas non-communicable diseases (NCDs), including cardiovascular disease, cancer, diabetes, dementia and chronic respiratory disease, are the world’s leading causes of death; whereas road safety is also a cause for concern;

    J. whereas air pollution constitutes a major factor for non-communicable diseases and is responsible for almost 7 million deaths globally, with more than nine out of ten deaths occurring in lower- and middle-income countries; whereas at EU level, air pollution remains the largest environmental health risk, despite the progress made, causing hundreds of thousands of premature deaths every year;

    K. whereas gender equality is crucial for fair, inclusive and sustainable development; whereas, despite some steps forward, significant inequalities continue to persist; whereas reinforcing women’s rights, empowering women and girls, challenging biased social norms, eliminating harmful practices and tackling discrimination are necessary to promote SDG 5;

    L. whereas protection of labour rights is declining and income inequality is rising; whereas the global jobs gap reached 402 million in 2024, while extreme forms of working poverty affect 240 million workers globally[20]; whereas women and young people experience higher unemployment rates; whereas more than one in five young people are not in education, employment or training[21];

    M. whereas the ocean covers more than 70 % of the surface of our planet and constitutes its largest ecosystem; whereas the ocean plays a critical role as a climate regulator, enables economic activity and provides livelihoods for more than 3 billion people; whereas the ocean constitutes the world’s greatest ally against climate change as it generates 50 % of the world’s oxygen, absorbs 25 % of all carbon dioxide emissions and captures 90 % of the excess heat generated by these emissions but its absorption capacity is decreasing; whereas 40 % of the ocean is heavily affected by pollution, depletion of fisheries, loss of coastal habitats and other human activities; whereas the UN Secretary-General declared an ‘ocean emergency’ during the 2022 UN Ocean Conference; whereas an inclusive ocean governance should, among others, be human-rights-based and socially equitable, and enhance gender equality;

    N. whereas there is currently a USD 4 trillion annual investment gap to achieve the SDGs; whereas foreign direct investment flows to developing countries have decreased while gains in remittances and official development assistance (ODA) have been modest[22];

    O. whereas the lack of financing is a major barrier in achieving gender equality outcomes; whereas gender equality is fundamental to delivering on the promises of sustainability, prosperity, social justice, peace and human progress; whereas meaningful and sustained financial commitments and strengthen budgeting processes are fundamental to support the implementation of legislation, policies and gender responsive services to advance gender equality across all SDG 5 targets[23];

    P. whereas, after a decade of rapid debt accumulation, the debt levels of low-, middle- and high-income countries remain at unprecedentedly high levels, limiting their capacity to invest in achieving the SDGs and in efficiently tackling climate challenges; whereas about 60 % of low-income countries are at high risk of or are already experiencing debt distress[24]; whereas the existing fiscal space in heavily indebted developing countries is further reduced by external shocks, such as natural disasters, different aspects of debt management, higher borrowing costs and the absence of a conducive international environment for domestic resource mobilisation;

    Q. whereas illicit financial flows, tax base erosion, profit shifting and corruption have led to a global decline in revenues and represent another important obstacle to sustainable development; whereas further international tax cooperation and rules are needed to address these challenges;

    R. whereas the EU and its Member States constitute the largest donor for developing countries, providing approximately 42 % of the total ODA; whereas the EU has set the target of collectively providing ODA equivalent to 0.7 % of its gross national income (GNI); whereas the collective ODA of the EU stood at 0.57 % of GNI in 2023 with only four Member States meeting the agreed target and several others making historic cuts to their ODA; whereas in order to reach the agreed target, the EU budget for ODA should amount to an estimated minimum of EUR 200 billion over the next multiannual financial framework; whereas the Global Gateway is a strategic instrument and has the potential to advance a range of interconnected SDGs, notably through international partnerships and investments in transport, energy, digital infrastructure, health and education;

    S. whereas the EU’s political commitment to policy coherence for development was reaffirmed in the 2017 New European Consensus on Development, which identified policy coherence for development as a ‘crucial element of the EU strategy to achieve the SDGs and an important contribution to the broader objective of policy coherence for sustainable development (PCSD)’; whereas PCSD is an approach that integrates the economic, social and environmental dimensions of sustainable development at all stages of domestic and international policymaking;

    T. whereas the new US administration has taken a number of deeply worrisome and damaging decisions in the field of international development and humanitarian aid, most significantly the suspension of 83 % of funding for programmes of the US Agency for International Development (USAID); whereas it is estimated that USD 54 billion in foreign aid contracts are affected; whereas the suspension of USAID funding and global aid cuts by several Member States will have long-term implications for the world’s development agenda and the achievement of the SDGs;

    State of play

    1. Reaffirms its strong and unwavering commitment to ensuring the full and prompt implementation and delivery of all the SDGs, their targets and the 2030 Agenda as a whole, especially in the light of the deteriorating geopolitical, social, economic and environmental landscape; reaffirms its strong commitment to the Pact for the Future, which is a crucial step towards revitalising the UN and achieving the SDGs;

    2. Regrets that the global community is severely off track with regard to realising the 2030 Agenda and achieving SDG targets; recognises the interconnectedness and interdependence of the 17 SDGs and acknowledges that the achievement of the 2030 Agenda and beyond will require broad and accelerated action across all SDGs; underlines that the scarring effects of the COVID-19 pandemic, escalating conflicts, geopolitical tensions, social, health and humanitarian emergencies and the accelerating negative effects of climate change constitute significant obstacles for the achievement of the SDG targets and that more efforts by all actors are needed to match real needs;

    3. Recognises that the delay in achieving the SDGs is aggravated by the significant progress gap among different groups of countries, particularly in the poorest and most vulnerable countries and regions; highlights that the current unequal progress is being exacerbated by the suspension of USAID funding and by cuts to global aid budgets by EU Member States and other OECD countries; stresses the need to maintain a strong focus on development cooperation in order to place the world on course to achieve the SDGs;

    4. Underlines that relevant policies for achieving the SDGs in low- and middle-income countries are to a large extent reduced by high debt levels and high debt service burdens; points also to the limitations of the global financial architecture and insufficient international support; stresses that these countries urgently require more financial resources and fiscal space to facilitate far greater investment in the SDGs; emphasises the need for global cooperation to reform the global financial architecture, especially in view of the 4th International Conference on Financing for Development held in Seville from 30 June to 3 July 2025;

    5. Stresses the urgent need for international cooperation and decisive transformative action to place our societies and economies firmly on course to achieve the SDGs and address the triple planetary crisis of climate change, biodiversity loss and pollution; highlights that the SDGs should be achieved in a just way and with respect for planetary boundaries; emphasises that social sustainability, including reducing global inequalities, ensuring access to essential services and promoting social inclusion, should be mainstreamed across all SDG implementation efforts;

    6. Welcomes, as a first step, the latest version of the Bridgetown Initiative in terms of climate action, which calls for the mobilisation of an additional USD 500 billion per year for climate change mitigation and adaptation in developing countries; recalls, however, that it still falls short of what is required; urges the EU and its Member States, accordingly, to work towards providing an additional USD 1.3 trillion per year for climate change mitigation and adaptation as well as loss and damage, through public concessional and non-debt creating instruments, in line with the Baku to Belem Roadmap agreed at COP 29;

    7. Reiterates that international cooperation is a fundamental condition for the world to make progress on the SDGs by 2030 and beyond and that such cooperation should prioritise strengthening the resilience, stability and autonomy of partner countries, especially in Africa, by promoting opportunities for economic and human development and refocusing on key priorities such as nutrition, healthcare and education; highlights that, despite the difficulties posed by the current geopolitical situation, special attention should be given to regions and communities that are furthest off-track, to ensure that no one is left behind; warns that the consequences of inaction or further delay would primarily be borne by the most vulnerable but would also detrimentally affect the world as a whole;

    8. Underlines the importance of uninterrupted access to high-quality climate and environmental data and the fulfilment of international reporting obligations for science- and evidence-based policymaking; notes with concern that recent geopolitical developments highlight vulnerabilities in the global climate infrastructure; highlights, moreover, the need for stronger collaboration between EU and global institutions, the IPCC and the UN to ensure that both EU and global policies remain grounded in the latest climate science;

    9. Recognises the importance of country-led sustainable development strategies for the implementation of the SDGs; acknowledges that sustainable development approaches should be tailored to specific local contexts; highlights, in this regard, the significant role of local and regional authorities in defining, implementing and monitoring local actions and strategies that contribute to the global achievement of the SDGs; stresses, moreover, that the effective implementation of the SDGs requires the involvement of a wide range of stakeholders, stronger social and institutional partnerships, public and private investment, cooperation and shared responsibility between public actors, greater involvement of the people, adequate education and broader interaction between the public and private sectors, science and civil society;

    10. Highlights that EU leadership in the global implementation of the SDGs remains crucial, especially in the light of multiple geopolitical challenges and ongoing crises; emphasises that the EU and its Member States should assume a stronger leadership role in coordinating global efforts to reverse stagnation or regression, and to facilitate and accelerate the achievement of the SDGs, while remaining a reliable partner for effective and sustainable aid; stresses the important role of the European Green Deal in implementing and achieving the SDGs;

    11. Highlights the need to mobilise adequate financial resources towards SDG-relevant transformations and to promote policy coherence and inclusiveness at all levels of governance, prioritising the inclusion of the SDGs in policymaking and Commission impact assessments;

    12. Calls on the EU institutions to live up to their long-standing commitments to apply gender mainstreaming and an intersectional perspective to all EU policies and funding; regrets that countries still lack 44 % of data needed to track SGD 5 and that over 80 % of countries are missing data on at least one SDG 5 target[25]; therefore, stresses the need to strengthen national statistical offices, and improve their global coordination and cooperation to ensure informed policymaking and close the remaining gender data gaps;

    13. Highlights the significant role of the UN and the annual HLPF for the monitoring and review of the implementation of the 2030 Agenda and the SDGs; believes that the 2025 HLPF should be used as an opportunity to provide high-level political guidance and new impetus to intensified efforts and accelerated action to achieve the SDGs by 2030;

    SDGs under in-depth review at the 2025 HLPF

    SDG 3. Ensure healthy lives and promote well-being for all at all ages

    14. Regrets the marginal or moderate progress in most SDG 3 targets and the slowing pace since 2015 in multiple key areas; notes with concern that less than 10 % of SDG 3 targets are on track and less than one third are likely to be met by 2030; is highly concerned that the EU has also experienced setbacks in about half of the indicators analysed by Eurostat for its June 2024 report

    15. Is alarmed that progress towards universal health coverage has slowed, leaving almost half of the world’s population without access to essential health services; is highly concerned that the lack of health coverage exposes 2 billion people to financial hardship from healthcare costs[26];

    16. Underlines that healthcare systems are experiencing increased strains due to the ageing global population, low-quality healthcare infrastructure and the global shortage of healthcare workers and recalls that progressing towards universal health coverage requires addressing these challenges; underlines the significant disparities around the globe regarding the adequate number of healthcare workers, with low-income countries experiencing the lowest density and distribution; notes that an additional 1.8 million healthcare workers are needed in 54 countries, mostly high-income ones, just to maintain their current age-standardised density[27]; highlights the vulnerability of healthcare workers confronted with increased workloads, burnout and mental health issues; recommends targeted support, training, and protective measures to safeguard frontline professionals and strengthen emergency health response capacity;

    17. Stresses that multiple and interlocking crises, the negative impact of climate change and biodiversity loss on health, economic instability, poverty, persistent inequalities, especially among vulnerable populations and regions, and increasingly constrained resources, despite the increasing demands on health services, threaten to worsen the health crisis, undermine global health security and further derail progress towards SDG 3 targets;

    18. Regrets the devastating effect of the COVID-19 pandemic on global health and on progress towards SDG 3 targets; stresses that the COVID-19 pandemic has revealed extensive long-lasting weaknesses in healthcare systems and has highlighted the importance of increasing crisis preparedness, crisis response capacity and healthcare systems resilience; stresses that health threats know no borders and that a local health emergency can quickly escalate into a global pandemic, necessitating a coordinated global response and strengthened international cooperation through robust multilateral health institutions, in particular the WHO;

    19. Deeply regrets the US decision to withdraw from the WHO and the dismantling of health programmes under USAID; underlines that this decision will have a severe effect on people’s lives and access to health services globally, exposing and exacerbating weaknesses in global health systems, increasing healthcare disparities and straining resources with long-term consequences for global health security and resilience; stresses that this withdrawal will significantly hinder progress towards achieving SDG 3 by reducing capacities for monitoring health threats, as well as international coordination, resources and leadership in addressing health crises and promoting equitable access to health for all; calls on the US to reconsider its decision to withdraw from the WHO;

    20. Recognises that efforts to combat communicable diseases such as HIV-AIDS, tuberculosis, malaria and neglected tropical diseases have led to significant progress in the past decades; is concerned, however, about the increased numbers of cases of malaria and tuberculosis and about the fact that, despite the achievements, inequalities continue to persist and threats continue to emerge, leaving many populations vulnerable and weakening global efforts; deeply regrets that the disruption of HIV-AIDS programmes could undo 20 years of progress, which could lead to over 10 million additional HIV-AIDS cases and 3 million deaths[28]; calls for more effective implementation of policies and programmes to further reduce transmission rates and improve access to treatment and prevention, particularly in less developed countries;

    21. Notes that neglected tropical diseases continue to affect billions of people, with many countries lacking adequate access to treatment, which highlights the urgent need to strengthen the prevention, preparation and response capacities of the EU and its partners, particularly in the Global South, to ensure that the benefits of global efforts reach everyone; calls for incentives to promote research and development on medicines targeting tropical diseases; calls for the EU to take proactive measures to encourage innovation and accelerate drug availability;

    22. Notes with concern that, despite the improvement in skilled birth attendance and the decrease in global neonatal mortality and under-five mortality rates, the global maternal mortality rate remains almost unchanged since 2015; points to the significant divergences between low-income and high-income countries and the grim situation in high and very high alert fragile countries; calls for decisive action across Member States and as part of the EU’s external policies to make substantial progress towards the 2030 goal to reduce maternal mortality, ensure universal access to sexual and reproductive healthcare services, including access to quality maternal healthcare services, skilled birth attendance, emergency obstetric care, comprehensive antenatal and postnatal services, family planning and legal abortions;

    23. Highlights that improvements in reducing adolescent birth rates and in access to modern contraceptive methods do not benefit all women and girls equally; points to the persisting social, economic and regional inequalities hindering the broadening of positive trends; calls for the EU to ensure, as a priority, access to safe and effective contraception methods and to legal abortion services across Member States and to contribute to the same through its external policies; reiterates its call for the right to safe and legal abortion to be included in the EU Charter of Fundamental Rights;

    24. Recalls that the full realisation of sexual and reproductive health and rights (SRHR) and upholding women’s and girls’ bodily autonomy is critical to achieving gender equality; highlights that SRHR are an integral part of the universal health coverage and are critical to achieving SDG 3, particularly target 3.7; calls on the Commission to ensure that SRHR are included in EU initiatives and programmes on universal health coverage;

    25. Regrets that progress towards the nine global voluntary targets agreed to in the NCD Global Monitoring Framework is slow and uneven; stresses that without increased uptake of these effective interventions, half of all countries will miss the 2030 SDG target to reduce NCD-related premature mortality by one third; calls, therefore, for strengthened, coordinated, and multi-sectoral actions to prevent and control NCDs to reduce suffering and prevent premature mortality; calls, moreover, for the implementation of the WHO’s ‘best buys’ policies to be prioritised, to address the primary risk factors of NCDs, including tobacco use, unhealthy diets, harmful use of alcohol, drug use and physical inactivity; calls, in addition, for the full implementation of the WHO Framework Convention on Tobacco Control in all signatory countries;

    26. Calls on the Commission to fully align EU air quality standards with the WHO guidelines in line with the Ambient Air Quality Directive[29]; recalls that sustainable cities and communities, and in particular tackling air pollution levels in urban areas, are key to promoting health and well-being, since over half of the world’s population currently resides in cities;

    27. Calls for enhanced, coordinated and holistic action, multiannual and tailor-made planning and substantial investment to achieve universal health coverage; stresses the need to strengthen health systems and the healthcare workforce, ensure equitable access to quality healthcare services and safe, effective and affordable medicines and vaccines, promote disease prevention and treatment, develop innovative solutions, and build inclusive and resilient health systems; calls also for action to tackle aggravating environmental factors, reduce the number of illnesses and deaths from hazardous chemicals and pollution, reduce the risks from emerging and re-emerging zoonotic epidemics and pandemics, and combat antimicrobial resistance; underlines the need to support social and solidarity healthcare organisations and address social determinants of health and disparities in access to quality care and services, including sexual and reproductive health services, especially for vulnerable populations such as women and girls with disabilities, with particular attention to directly affected regions and rural and remote communities;

    28. Stresses the need for horizontal programming in health policy and for investment in preparedness against health threats and in resilient public health systems; calls for increased investment in research and development on vaccines and medicines for the communicable and non- communicable diseases that primarily affect developing countries with a view to providing access to affordable essential medicines and vaccines; regrets that in 2022, 20.5 million children missed out on life-saving vaccines[30]; notes that access to vaccines must be equitable for an effective global response; calls for the use of initiatives such as the Global Gateway to facilitate investment for the local production of medicines and medical technologies and to prevent future health emergencies by strengthening capacities around the world;

    29. Reaffirms its commitment to the One Health approach; considers that applying the One Health approach is key to achieving progress on SDG 3; underlines, moreover, the need for the Commission and the Member States to fully implement the EU global health strategy, monitoring its implementation and regularly reporting to Parliament on the achievement of its objectives;

    30. Recalls that access to affordable and quality medicines depends also on technology and knowledge transfer; underlines, therefore, the flexibilities in the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), confirmed by the Doha Declaration, as legitimate policy measures that governments can use to protect and promote public health by putting limits and safeguards on the enforcement of intellectual property rights; urges the EU to ensure that trade agreements with developing countries are fully supportive of this objective;

    31. Underlines that environmental risks account for a quarter of the disease burden worldwide[31]; recalls that, in line with the One Health approach, human and animal health depend on planetary health and that a healthy environment is a universal human right and a fundamental pillar of sustainable development and human well-being; welcomes the wide support at the UN General Assembly for the recognition of the right to a clean, healthy and sustainable environment as a universal human right[32] and calls for its effective protection at EU level; stresses the need to ban the most hazardous chemicals, including banning endocrine disruptors, and to phase out the PFAS forever chemicals, allowing their use only where essential for critical sectors, such as medical devices, pharmaceuticals and products necessary for the twin transition to a climate neutral and digital economy; stresses the need to also ban exports of chemical pesticides that are banned in the EU to third countries;

    32. Highlights the rising health risks due to the climate crisis, including increased incidences of heat-related illnesses, respiratory and cardiovascular diseases, and the spread of vector- and water-borne diseases; calls for dedicated efforts to protect vulnerable populations, including older persons, children, people with pre-existing conditions, persons with disabilities, and low-income communities, which face disproportionate climate-related health risks; urges for the implementation of localised heat action plans and the provision of accessible shelters and targeted outreach during extreme weather events;

    33. Stresses, moreover, that extreme weather events are disrupting healthcare infrastructure, energy supply, and supply chains, thereby compromising access to critical medical care and treatment; underscores the need to invest in climate-resilient healthcare systems, including disaster-proof infrastructure, renewable energy sources in medical facilities, and robust water and sanitation systems; calls for the integration of early warning systems, mobile health units, and decentralised community-based healthcare models to ensure continuity of care in climate emergencies; calls on the Commission and the Member States to integrate climate resilience into all public health policies and national health strategies; encourages the use of SDG-aligned indicators to monitor the health impacts of climate change and to guide EU and national-level adaptation strategies;

    SDG 5. Achieve gender equality and empower all women and girls

    34. Expresses grave concern about the slow progress towards gender equality, with a majority of the indicators being off track, risking further backsliding on gender equality and women’s rights, including actions that shrink the civic space for women rights defenders; considers that development aid cuts are already having a negative impact on women’s empowerment and gender equality; reaffirms gender equality as both a distinct goal and a catalyst for the advancement of the other SDG goals; calls for strong EU leadership internationally in the promotion of gender equality and women’s rights through policy and financial assistance;

    35. Calls for accelerated, targeted action to end all forms of violence and harassment against women and girls, including sexual and gender-based violence and technology-facilitated gender-based violence, and to end harmful practices such as child, early and forced marriage, so-called ‘honour’ based violence, sterilisation and female genital mutilation; recalls that over 230 million girls and women have undergone female genital mutilation[33] and deplores the fact that new estimates show an increase of 30 million cases compared to 2016[34]; remains gravely concerned about the high worldwide rates of maternal mortality, in particular in low and middle-income countries; stresses that rape remains one of the most widespread human rights violations and calls for the establishment of a common definition of rape on the basis of lack of consent; stresses that the objectives of SDG 5 must also play an important role in the EU’s relations with other countries;

    36. Stresses that women are disproportionately affected by climate change, particularly in least developed countries and rural areas; underlines that this disproportionate impact poses unique threats to their livelihoods, health and safety, including increased food and water insecurity, heightened exposure to gender-based violence in the context of climate-related displacement and migration, and greater economic instability owing to a reliance on climate-sensitive sectors; stresses that four out of five of those displaced due to the climate crisis are women and girls[35]; calls for climate action plans to include support for women and for women’s participation in climate decision-making at all levels; calls for strengthened healthcare systems to address climate-related diseases affecting women and for the promotion of education on climate adaptation; calls on the Commission and the Member States to integrate climate resilience into all public health policies and national health strategies; encourages the use of SDG-aligned indicators to monitor the health impacts of climate change and to guide EU and national-level adaptation strategies and looks forward to the new gender action plan under the UNFCCC; calls on the Commission and the Member States to provide leadership for the adoption of a new ambitious and effective gender action plan at COP30;

    37. Regrets that women’s sexual and reproductive rights remain limited globally, and stresses the importance of addressing the barriers that hinder women’s ability to make decisions about contraception, healthcare access and sexual consent, recognising that socio-economic factors, education and geographical location significantly influence women’s ability to exercise these rights; recalls the EU’s commitment to the promotion, protection and fulfilment of the right of every individual to have full control over and decide freely and responsibly on matters related to their sexuality and sexual and reproductive rights, free from discrimination, coercion and violence; warns that targets set by SDG 5 will not be achieved if universal access to sexual and reproductive health and reproductive rights is not guaranteed in the EU and globally and calls on the EU to prioritise this question in policy and funding, and enshrine the right to legal and safe abortion in the EU Charter of Fundamental Rights; reiterates that all women must have access to sexual and reproductive healthcare services, including for family planning, information and education, and calls for the integration of reproductive health into national strategies and programmes; calls for increased investment in these areas to ensure access to comprehensive and non-discriminatory services;

    38. Calls for the continuation of funding for programmes focusing on promoting women’s rights, empowerment and autonomy and fighting against all forms of gender-based violence; calls on the Commission to ensure that 85 % of all new external actions incorporate gender as a significant or principal objective and that 20 % of ODA in each country is allocated to programmes with gender equality as one of their principal objectives; calls, furthermore, on the Commission to ensure the systematic implementation of rigorous gender analyses, gender disaggregated data collection, gender-responsive budgeting and gender impact assessments;

    39. Regrets that assistance from OECD Development Assistance Committee donors for gender equality dropped in 2022, marking the first decline after a decade of growth[36]; notes that only 4 % of allocable ODA focused on gender equality as its principal objective[37]; stresses the need to mobilise new resources to resume progress towards gender equality; regrets that since the launch of the GAP III only 3.8 % of all gender-responsive/targeted actions have gender equality as a principal objective, falling behind the 5 % target outlined in the NDICI Regulation[38]; calls on the Member States and the Commission to substantially increase the number of the EU’s actions having the promotion of gender equality as a principal objective; calls for the EU to increase its funding of multilateral funds for gender equality, such as UN Women, and for sexual and reproductive health, such as the UN Population Fund and the Global Fund to fight AIDS Tuberculosis and Malaria;

    40. Recalls that women in general perform most unpaid domestic and care work, which imposes a disproportionate burden on lower-income households, contributing to poverty, inequality and precarious living conditions and reducing the labour market participation of women; calls for stronger promotion of the right of every woman to balance her professional and private life based on joint responsibility and working conditions that facilitate the reconciliation of private, family and working lives; calls for accelerated efforts to close the gender pay and pension gaps, including in the care economy, as well as to tackle horizontal and vertical labour market segregation; calls, moreover, for efforts to ensure women’s full, equal and meaningful participation and leadership in decision-making roles and opportunities in the public and private sectors, including in all aspects of peace and security; calls for further promotion of women’s participation in science, technology, engineering and mathematics;

    41. Recognises the urgent need to respond to negative trends hampering progress in gender equality in the EU, including gender-based violence, and to prevalent sexist political discourse; welcomes, in this regard, the Commission’s Roadmap for Women’s Rights as a compass for future EU action in the area both inside and outside the Union and in shaping the new gender equality strategy from 2026; stresses that this roadmap should foster the implementation of legislative and non-legislative measures for greater progress and accountability on SDG 5 and calls for stronger Member States involvement; urges a comprehensive approach addressing sexual and reproductive services, intersectional discrimination and the protection of vulnerable women;

    42. Deplores the increasing unjustified attacks against civil society organisations, particularly women’s rights organisations, both in the EU and worldwide; stresses the need for the establishment of a protection mechanism for human rights defenders in the EU, with particular attention paid to women, LGBTIQ+ people and SRHR human rights defenders; calls for the full implementation of gender equality policies (gender action plan, gender equality strategy), including in their SRHR components, and insists that this implementation must be backed up with adequate funding, including for women’s rights and SRHR organisations, and information about family planning, affordable contraception, free, safe and legal abortion, and maternal healthcare; stresses that women’s rights organisations continue to be systematically underfunded, receiving less than 1 % of global ODA;

    43. Recognises that, despite progress, 122 million girls worldwide remain out of school[39]; emphasises that equal access to education is fundamental for sustainable development, poverty reduction, and economic prosperity, as it empowers women and girls to participate fully in society; calls for the integration of gender-responsive strategies in education policies to address these inequalities; calls on Member States to ensure the provision of education in primary and secondary schools,  focused on fighting gender-based violence and gender stereotyping; underlines that investing in girls’ education yields great returns for generations to come, directly contributing to the realisation of their fundamental rights and protecting them against all forms of violence, and also contributing to better well-being for whole societies;

    44. Recognises the disproportionate vulnerability of women and girls in conflict and humanitarian crises, including the increased risk they face of sexual and gender-based violence, displacement, and disruption of essential services; reaffirms the vital role of women and girls in peacebuilding, conflict resolution and post-conflict reconstruction, emphasising their essential participation in peace negotiations and decision-making processes, as outlined in the women, peace and security agenda;

    45. Calls for stronger policies and actions that promote access to land, credit, entrepreneurship and education, as well as employment and health, especially for women and girls in circumstances of vulnerability, women with disabilities, pregnant women and women in rural areas;

    46. Takes note of the lessons learned listed in the 2024 join report entitled ‘Are we getting there? A synthesis of the UN system evaluations of SDG 5’, including the importance of effectively engaging men and boys in programmes and initiatives on issues that educate and assist them in the behavioural change that is needed if the targets are to be met, and the more sustained and comprehensive prioritisation of the targets in humanitarian settings;

    47. Regrets the regression of LGBTIQ+ rights and the transphobia that threatens gender equality; denounces the fact that, between 2021 and 2022, just three anti-LGBTIQ+ organisations reported USD 1 billion in income, while 8 000 global LGBTIQ+ grantees received USD 905 million between them[40]; warns of the worrying increase in anti-gender financing that aims to counteract the progressive achievements of women’s and LGBTIQ+ rights of the past decades;

    48. Calls for the EU to ban conversion centres in the Member States and to do anything possible to prevent this practice everywhere;

    SDG 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

    49. Is alarmed that SDG 8 targets face the highest rates of stagnation or regression among the SDGs under in-depth review at the 2025 HLPF;

    50. Expresses concern about the decrease over the past decade in labour rights, freedom of association and collective bargaining rights, highlighting its adverse impact on social justice and efforts to promote productive employment and decent work for everyone; regrets that one fifth of the world’s population lives in countries with high levels of inequality[41]; affirms the need to strengthen social measures to address inequalities in line with the leave no one behind principle, taking into account the social consequences of inflation, rising budget pressures, geopolitical tensions and risks posed by climate change and extreme weather events to the health and safety of workers; stresses the importance of a just transition for the decarbonisation of the economy, to ensure that the transition is as fair and inclusive as possible for all concerned;

    51. Calls for stronger policies and bold actions to promote inclusive and sustainable economic development; urges the EU and global partners to use instruments such as the Global Gateway to leverage multiple sources of funding, including private sector investments, respect social and environmental standards and promote the creation of decent jobs that will reduce income inequality and ensure that no one is left behind; recognises the role of private finance in bridging the financing gap to achieve the SDGs; highlights, however, the need for public investments in critical services such as healthcare, education and social protection;

    52. Underlines the need to address territorial and housing inequalities by supporting access to affordable, adequate and energy-efficient housing, especially in disadvantaged urban and rural areas; calls for increased investment in integrated community development, social infrastructure and basic services to promote social cohesion and economic inclusion; encourages support for local and regional authorities in implementing sustainable, inclusive and resilient development strategies that link climate, health, housing, mobility and social inclusion;

    53. Expresses concern that economic growth in many developing countries remains slow and uneven, often hindered by structural weaknesses, economic inequalities, political instability, external shocks and the growing impact of climate change; emphasises that local initiatives addressing unique community needs play a vital role in fostering equitable economic growth; underscores that regional cooperation on economic corridors enhances trade, investment, sustainable industrialisation, and economic diversification;

    54. Recommends increased public and private investment in research, sustainable business practices, the green and digital transition, quality education and skills development, including reskilling and upskilling, as well as aligning them with market demands, and supporting small and medium-sized enterprises and start-ups to support access to finance and foster investment and innovation; reiterates the need for a special focus on the promotion of women’s economic empowerment and on ensuring equitable access to business opportunities; calls for inclusive policies for persons with disabilities in the workplace;

    55. Reiterates the importance of policies that support youth employment, education and vocational training; stresses the significance of the expanding young population in the Global South for sustainable development; insists on the importance of creating stronger links between education, skills development and employment, to allow access to decent work in the rapidly changing labour market;

    56. Emphasises that initiatives aimed at stimulating economic growth should go hand in hand with social justice, gender equality, labour rights and environmental protection; calls for the EU to constructively engage with and work towards the adoption of the UN Treaty on Business and Human Rights;

    57. Regrets that more than half of the global workforce finds itself in informal employment[42], thus posing a significant barrier to social justice and inclusive growth; expresses deep concern that in the least developed countries, in sub-Saharan Africa and in Central and Southern Asia, almost nine out of ten workers are still employed informally[43];

    58. Notes that while gross domestic product remains an important indicator of economic performance, additional metrics reflecting social and environmental dimensions should be taken into account in order to achieve a more balanced and informed approach to economic policymaking;

    59. Calls for further measures to eradicate forced labour and human trafficking, and to put an end to any form of child labour, including the recruitment and use of child soldiers;

    SDG 14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

    60. Stresses the alarming trends of marine pollution, coastal eutrophication, ocean acidification, rising temperatures, overfishing, declining marine biodiversity, habitat destruction, unsustainable industrial practices, underwater noise and inland water contamination, which individually and cumulatively threaten marine ecosystems and coastal communities, especially in developing countries and vulnerable regions, and hinder the achievement of SDG 14 targets;

    61. Regrets the lack of actual progress towards meeting SDG 14 targets and, in some cases, their worsening outlook, notably owing to the lack of effective measures alongside increasing economic pressures; is alarmed that none of the SDG 14 targets for 2020 were met; considers that the marginal or moderate progress and the high levels of stagnation and regression mean that global action is far from the speed and scale required to meet SDG14 targets on time; recalls that equity in both benefits and cost-sharing is essential for the implementation of SDG 14;

    62. Notes that SDG 14 remains among the least financed SDGs and that the current funding gap is estimated at about USD 150 billion per year; underlines that the 2025 UN Ocean Conference should provide new impetus in eliminating the existing funding gap and creating a stable and enabling environment for the mobilisation of increased funding for the achievement of the SDG 14 targets; calls on the EU and its Member States to step up their financial contribution to protecting and restoring marine ecosystems; calls on the Commission to allocate dedicated funds to the European Ocean Pact for the protection of the ocean and the just transition to a sustainable blue economy benefitting coastal communities, economic growth and society as a whole;

    63. Highlights the need to protect the ocean as a unified entity and use it sustainably; calls for a holistic approach that integrates environmental protection and restoration, prosperity, social equity, sustainability and competitiveness, and for a comprehensive framework serving as a single reference point for all ocean-related policies; expects the upcoming European Ocean Pact to set an international example by providing such a holistic approach to all ocean-related policies and coherence across all policy areas linked to the ocean;

    64. Believes that binding global measures and an ecosystem-based approach are urgently needed to address shortcomings, accelerate action and ensure the long-term health of the ocean, also and especially under changing climate conditions; stresses that such measures should ensure the protection of human rights and our marine ecosystems; considers it particularly necessary to support the just transition to sustainable fisheries, combat illegal, unreported and unregulated fishing, address the increasing numbers of invasive alien species, strengthen transparency in the seafood sector, protect small-scale fishers’ rights, enhance marine conservation and restoration efforts and adopt a global treaty on plastic pollution; recalls that the EU Nature Restoration Law is one of the tools for the EU to meet its international commitments in restoring marine and coastal ecosystems;

    65. Calls for enhanced global action to tackle ocean acidification and ocean heat levels in order to safeguard the role of the ocean as the most important carbon sink on the planet and to protect marine life and food web;

    66. Welcomes the adoption of UN High Seas Treaty (Biodiversity Beyond National Jurisdiction Agreement, or BBNJ); regrets, however, that, to date, only one of the 27 EU Member States has ratified that treaty; urges all Member States to swiftly complete their individual ratification processes; calls on the parties to continue work on the UN Ocean and Climate Change Dialogue and ensure swift implementation of the agreement, including by mobilising funds from the EU Global Ocean Programme; welcomes the Commission proposal to integrate the UN High Seas Treaty into EU law;

    67. Recalls the commitment under target 3 of the Kunming-Montreal Global Biodiversity Framework  for the effective conservation of at least 30% of terrestrial and inland water areas and of marine and coastal areas by 2030 through the establishment of protected areas and other effective area-based conservation measures; considers that increased efforts are required for the further expansion of marine and coastal protected areas to achieve the 30 % target and facilitate the conservation and sustainable management of marine species, habitats, ecosystems and resources; regrets that the EU is off track to meet its objectives to protect 30 % of its marine areas by 2030;68.  Is alarmed by the increasing levels of marine pollution that are set to double or triple by 2040; highlights that a large part of the pollution pressure placed on the ocean results from land-based activities; calls for stronger measures and accelerated implementation as a matter of urgency to put an end to marine pollution both at EU and international level; underlines that plastics make up the largest, most harmful and most persistent share of marine litter; regrets the lack of a conclusion on the first ever global legally-binding instrument on plastic pollution; urges for the adoption of an ambitious binding global treaty on plastic pollution at the resumption of the intergovernmental negotiations in 2025; supports the EU position that the final agreement should contain a target of reducing the production of primary plastic polymers;

    69. Stresses the importance of advancing the EU’s zero pollution action plan that includes significant targets for the improvement of water quality, the reduction of waste generation, and the reduction of nutrient losses; notes that only 37 % of Europe’s surface waters are in a healthy ecological state and that nutrient pollution is costing more than EUR 75 billion per year[44]; notes, moreover, that, according to the 2025 zero pollution monitoring and outlook report, only two of the zero pollution targets are on track; stresses that the implementation and enforcement of environmental legislation is crucial to achieve the 2030 zero pollution targets and that additional action is needed; reiterates its call on the Commission to propose ambitious EU targets for 2030 to significantly reduce the EU material and consumption footprints and bring them within planetary boundaries by 2050 as required under the 8th Environment Action Programme; highlights, moreover, the need to leverage modern technologies, including artificial intelligence, to monitor pollution;

    70. Stresses the importance of applying the precautionary principle in deep-sea mining; reiterates, in this regard, its support for an international moratorium on commercial deep-sea mining exploitation until such time as the effects of deep-sea mining on the marine environment, biodiversity and human activities at sea have been studied and researched sufficiently[45];

    71. Highlights that the ongoing decline in sustainable fish populations underscores the importance of a regulatory framework following an ecosystem-based approach along with efficient and transparent monitoring systems to promote sustainable fishing practices and combat illegal, unreported and unregulated fishing; welcomes the WTO Agreement on Fisheries Subsidies as a major step forward towards ending harmful subsidies that contribute to overfishing; calls on WTO members that have not yet done so to deposit their instruments of acceptance to allow for the agreement to become operational; urges, moreover, WTO members to phase out environmentally harmful subsidies in maritime economic activities, including harmful fisheries subsidies;

    72. Recognises that sustainable fishing practices involving community participation are instrumental in reducing overfishing and ensuring the long-term sustainability of marine resources;​ recalls that many small-scale fishing communities continue to face marginalisation and unfair competition; notes that it is essential to promote the resilience of coastal and island communities and the potential of the blue economy in line with the EU environmental legislation and objectives, ensuring access to drinking water, sustainable transport, rules-based fisheries, sustainable tourism, entrepreneurship and fair access to services; calls on the Commission to promote international sustainable fishing standards to ensure, among other things, a global level-playing field;

    73. Calls for the EU to reaffirm and step up its support for ocean science; encourages the promotion of scientific research and the dissemination of accurate data, alongside the development and sharing of best practice; emphasises the need to integrate ocean management policy with indigenous and traditional knowledge, science and community engagement; calls for the development and implementation of area-based management tools in conjunction with other appropriate conservation measures;

    SDG 17. Strengthen the means of implementation and revitalise the Global Partnership for Sustainable Development

    74. Calls for the EU to continue advocating and working for multilateralism and provide global leadership in advancing the implementation of the SDGs and the 2030 Agenda, and reinforcing international treaties and agreements, such as the Paris Agreement, the Convention on Biological Diversity, and regional conservation initiatives;

    75. Emphasises that, in the current difficult and uncertain geopolitical landscape, a vocal re-commitment to the SDGs will send a clear signal to partners around the world and support the EU’s global action; is concerned about the USD 4 trillion investment gap on achieving the SDGs[46]; stresses that the EU’s commitment to the SDGs should be supported by ambitious financial commitments in the next multiannual financial framework 2028-2034; calls for the EU to pursue a reinforced approach to development cooperation and to mobilise and continue to engage constructively with other international players in stepping up their sustainable development efforts and supporting peace, gender equality and human development;

    76. Reaffirms that ODA remains a crucial source of public financing and an essential tool for reducing poverty, addressing inequalities, and supporting the most vulnerable communities, particularly in fragile, conflict-affected and least developed countries (LDCs);

    77. Regrets the reduction in ODA by several EU Member States; calls on all Member States and global partners to uphold their commitment to ODA as a key pillar of their development policy and ensure that sufficient financing is dedicated to fulfilling the commitment to spend 0.7 % of gross national income on ODA and 0.2 % as ODA to LDCs; stresses, moreover, that only 12 % of ODA currently targets children despite their significant representation within the population of ODA-receiving countries; calls for the removal of obstacles, including administrative burden, to enable aid to reach the most vulnerable communities;

    78. Calls for the EU to enhance its role in advocating stronger financial commitments for development and humanitarian aid at international level, including the SDGs and the Paris Agreement, and particularly supporting climate adaptation and resilience in the most vulnerable regions, including Small Island Developing States (SIDS) and LDCs; calls, moreover, on the EU to ensure that climate finance targets are met and prioritised in multilateral negotiations and global partnerships; emphasises that advancing EU economic interests should also encompass creating stable partnerships guided by mutual interests and that all EU external policies should be embedded in the larger framework of the 2030 Agenda, while EU development policy and the use of EU ODA should remain focused on poverty alleviation as defined by the OECD Development Assistance Committee;

    79. Stresses the urgent need to address the underrepresentation of countries from the Global South in global governance and to foster a more inclusive international financial architecture; considers South-South and triangular cooperation crucial for the implementation of the 2030 Agenda;

    80. Insists on the paramount importance of the UN at the core of the multilateral system for creating a peaceful, fair, equal, inclusive, and rules-based global system that works for all, leaving no one behind; expresses, in this context, its support for swift and effective reforms of the UN Security Council; highlights the pressing need to review and reform the global governance of international development cooperation, particularly following cuts to global aid by several countries; stresses that reforms to the international financial system should be driven by a renewed commitment to multilateralism;

    81. Emphasises the crucial role of multi-stakeholder partnerships and the meaningful involvement of local governments, civil society and youth and women’s representatives for attaining the SDG targets as well as of the full and effective participation of indigenous peoples and local communities in global partnerships, in line with the UN Declaration on the rights of indigenous people; emphasises the need for youth-led initiatives, particularly in the Global South and in climate-affected regions;

    82. Recognises the vital and multifaceted roles that civil society organisations play in advancing the SDGs through locally-led, context-specific strategies that empower local actors and ensure broad-based, inclusive participation at all levels of society; calls, in this context, for deeper involvement of vulnerable communities in designing and monitoring SDG-related policies and for strengthened cooperation, resource mobilisation, and multi-stakeholder participation to advance the SDGs; calls for civil society participation and civic space in order to ensure that public funds are prevented from financing repressive regimes; stresses that access to structural funding is necessary for the effective participation of civil society in policy-making;

    83. Calls for better monitoring of SDG implementation at regional and local levels, including through support for voluntary local reviews; stresses the importance of improving the availability of reliable data and collecting and using data disaggregated by income, age, gender, disability and geography; emphasises the need to modernise statistics and strengthen data capacity-building in the countries of the Global South;

    84. Calls for the EU and its Member States to support global debt relief and debt restructuring for developing countries, particularly those in the Global South, taking into account the UN Trade and Development principles on promoting responsible sovereign lending and borrowing; calls, moreover, for comprehensive reforms of global financial institutions, including multilateral development banks, to enhance their effectiveness, equity and responsibility in supporting the implementation of the SDGs; emphasises that existing instruments and development banks, such as the European Bank for Reconstruction and Development, should be more in focus;

    85. Stresses the need to align the Neighbourhood, Development and International Cooperation Instrument – Global Europe, including Global Gateway programmes, with the SDGs, the Paris Agreement and human development indicators; calls for greater involvement of Parliament and for it to take a more active role in the scrutiny of Global Gateway programmes, guaranteeing their effectiveness and proper implementation;

    86. Insists that the Global Gateway initiative requires a more strategic and coordinated approach, incorporating strict criteria with the SDGs and the Paris Agreement goals and fundamental EU values, including human rights, good governance, democracy, transparency and environmental sustainability; recognises the potential of the Global Gateway to be able to contribute to sustainable development; stresses that it must be transparent in its planning process and have clear mechanisms for monitoring and evaluating its impact;

    87. Highlights the need for clearer communication, coordination and alignment of Global Gateway projects with existing EU development policies; stresses, in this context, that the EIB should intensify its collaboration with other international financial institutions and national development banks to maximise the impact of its interventions, while ensuring its activities fully align with the objectives of the Paris Agreement and the SDGs;

    88. Reiterates its strong call on the Commission and the Member States to strengthen cooperation with partners on fighting organised crime, corruption, illicit financial flows, harmful tax competition, tax avoidance and tax evasion; calls for the scaling-up of cooperation with developing countries on tax matters, including in terms of capacities, digitalisation, and the strengthening of their tax systems; welcomes the setting up of an intergovernmental process to adopt a UN convention on tax as a new global framework for international tax cooperation; highlights the pivotal role of progressive taxation in securing revenue to finance sustainable development; supports the decision of the G20 finance ministers to ensure that ultra-high net worth individuals are effectively taxed;

    Outlook

    89. Reiterates that the SDGs are the only globally agreed and comprehensive set of goals on the major challenges faced by both developed and developing countries and are the best tool for tackling the root causes of these challenges; stresses that the achievement of the 2030 Agenda is contingent on global collaboration and enhanced and accelerated action by all actors; calls on the EU to double down action and take the lead on advancing progress in these five years before the 2030 deadline in order to accelerate action to reverse the negative trends and foster a more just, peaceful and sustainable future for all;

    90. Emphasises that policy coherence for development is a binding obligation under Article 208 of the TFEU aiming at integrating the economic, social, and environmental dimensions of sustainable development at all stages of the policymaking cycle, in order to foster synergies across policy areas, identifying and reconciling potential trade-offs, as well as addressing the international spillover effects of EU policies;

    91. Highlights the opportunity provided by the SDGs to foster a sustainable, well-being and people-centred economy; emphasises the need for a comprehensive approach that ensures long-term sustainability and prosperity beyond 2030 in line with the diverse needs and circumstances of different countries;

    92. Welcomes the Pact for the Future which pledges 56 actions to accelerate and finance sustainable development, ensure that technology benefits people and the planet, invest in young people, support human rights and gender equality, and transform global governance; calls for the commitments made during the Summit of the Future and reflected in the Pact for the Future to be translated into concrete actions and measurable targets; urges the UN to begin preparing a comprehensive post-2030 Agenda strategy based on global commitment to sustainable development;

    93. Calls for implementation plans with concrete timelines for achieving the SDGs by 2030 and setting ambitious targets beyond; calls, in this regard, on the Commission to lead by example and develop a comprehensive strategy accompanied by a structured SDG implementation plan with clear and concrete targets; calls, moreover, for the next EU multiannual financial framework to be fully consistent with the SDGs;94.  Welcomes the EU’s first voluntary review of SDG implementation in 2023; considers that its conclusions can serve as a solid basis for a comprehensive EU SDG strategy, which should include an updated monitoring system that takes into account the EU’s internal and external impact on the SDG process; insists that such reviews become regular exercises and that their conclusions be taken into account in Commission proposals;

    95. Believes that successes in SDG progress should be made visible and lay the groundwork for formulating best practice for the achievement of the SDGs; stresses, in this context, the importance of inclusive digitalisation, including with regard to AI, building on the Global Digital Compact; welcomes the 2025 Human Development Report that focuses on this matter;

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    96. Instructs its President to forward this resolution to the Council and the Commission, the Secretary General of the United Nations and the President of the United Nations General Assembly.

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: SHETO celebrates 28th anniversary of establishment of HKSAR in Shanghai

    Source: Hong Kong Government special administrative region

    SHETO celebrates 28th anniversary of establishment of HKSAR in Shanghai.

    To celebrate the 28th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR), the Hong Kong Economic and Trade Office in Shanghai (SHETO) hosted a dinner reception in Shanghai today (July 1), attended by approximately 180 representatives from Shanghai’s government departments, institutions, chambers of commerce, enterprises, and Hong Kong community groups.

    Delivering a speech at the dinner reception, the Director of the SHETO, Mrs Laura Aron, highlighted that the HKSAR Government has focused on economic development, achieving remarkable results. She encouraged citizens and enterprises in Shanghai and the East China region to continue leveraging Hong Kong’s role as a “super-connector” and “super value-adder” to explore business opportunities, invest, and pursue employment or entrepreneurship in Hong Kong. She also expressed hope for continued robust co-operation between Shanghai and Hong Kong in areas such as trade, innovation, culture, and youth development, fostering mutual benefits.

    Mrs Aron mentioned that next year will mark the 20th anniversary of the establishment of the SHETO. She expressed gratitude to the Communist Party of China Shanghai Municipal Committee and the Shanghai Municipal Government for their support for the work of the HKSAR Government and the SHETO. The SHETO will continue to facilitate Shanghai-Hong Kong co-operation and support mutual success to make greater contributions to the country’s high-quality development.

    The Deputy Commissioner of Police (Management), Mr Chan Joon-sun, who is visiting Shanghai, attended the dinner. Speaking at the dinner reception, he shared that each anniversary occasion is an opportunity to review the development and achievements of “one country, two systems”. With the introduction of the dual legislation on national security, Hong Kong has embarked on a new journey, advancing from chaos to order, and from stability to prosperity. It demonstrates the institutional advantages and strong vitality of “one Country, two systems”. The country has been providing Hong Kong with opportunities to leverage its unique advantage of having strong support from the motherland and close connection with the world, promoting two-way exchanges between the mainland and the international community.

    Hong Kong member of the Shanghai Municipal Committee of the Chinese People’s Political Consultative Conference in Shanghai and Co-Founder and Chief Executive Officer of New Frontier Group, Mr Carl Wu, also shared remarks at the dinner on Shanghai’s support for Hong Kong-invested enterprises and the exchanges between Shanghai and Hong Kong.

    The SHETO also invited emerging Hong Kong young artists to perform at the dinner reception, showcasing Hong Kong’s diverse cultural charm through a suona performance blending Chinese and Western elements. Several Hong Kong students in Shanghai were also invited to showcase their talents.

    The theme of the dinner reception was “Multifaceted Hong Kong, Infinite Possibilities”, featuring interactive exhibition areas and photo check-in points themed around nine tourism development projects recently announced by the Working Group on Developing Tourist Hotspots, alongside the giant pandas gifted by the Central Government as design ideas, offering guests an immersive, multifaceted, and engaging experience of Hong Kong.

    The SHETO, in collaboration with Invest Hong Kong, also organised a seminar entitled “Hong Kong: Enabler of Mainland Catering and Food Enterprises to Go Global” today. Insights on the competitive advantages and development opportunities of Hong Kong as a preferred place for business were shared with over 100 representatives from catering, food and other industrial sectors in the East China region. They were encouraged to set up business in and develop overseas markets through Hong Kong.

    Ends/Tuesday, July 1, 2025
    Issued at HKT 22:00

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Written question – Deteriorating working conditions and labour rights violations – P-002609/2025

    Source: European Parliament

    Priority question for written answer  P-002609/2025
    to the Commission
    Rule 144
    Marlena Maląg (ECR)

    This year’s Global Rights Index report published by the International Trade Union Confederation reveals an alarming trend of deteriorating working conditions and violations of trade union rights. Europe has not seen such bad results since 2014, yet there was time until November 2024 to implement Directive (EU) 2022/2041 on adequate minimum wages, which should improve the situation in this area. The report unfortunately also includes Poland, which is mentioned alongside countries such as Senegal and Lesotho in the context of action taken against trade unions at PKP Cargo. Meanwhile, in recent days the management of PKP Cargo have announced further group redundancies – 4 000 people have already been made redundant, and a further 2 000 are set to go in 2025-2026. In addition, the trade unionists say the company is planning to sell or scrap 10 000 wagons, including those designed to transport military equipment, which is of economic and strategic importance.

    • 1.Does the Commission recognise the problem of labour rights violations at PKP Cargo?
    • 2.Has Poland applied for support under the European Globalisation Adjustment Fund in connection with the further waves of redundancies at PKP Cargo?
    • 3.Is the sale or scrapping of rolling stock suitable for transporting military equipment in line with the EU’s strategy to strengthen its competitiveness, autonomy and defence capabilities?

    Submitted: 27.6.2025

    Last updated: 1 July 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Ensuring a fair and competitive green transition in the EU – E-002557/2025

    Source: European Parliament

    Question for written answer  E-002557/2025
    to the Commission
    Rule 144
    Sunčana Glavak (PPE)

    Regulations (EU) 2023/959 and 2023/956 of the European Parliament and of the Council have introduced new climate instruments, such as the Emissions Trading System for Buildings and Road Transport (ETS2) and the Carbon Border Adjustment Mechanism (CBAM). These instruments aim to reduce greenhouse gas emissions and bolster the Union’s climate ambitions. However, their financial impact is causing concern among citizens and business entities. Additional costs arising from new requirements could lead to an increase in energy and product prices, which could reduce the competitiveness of the European economy in the long term. It is therefore imperative that, in addition to energy efficiency, we also ensure financial sustainability when implementing green policies, in particular with regard to the fair distribution of costs and the protection of the most vulnerable groups.

    In view of the above:

    • 1.Does the Commission plan to take additional measures to ensure that the green transition does not disproportionately affect the competitiveness of lower-income households and small businesses? If so, which ones?
    • 2.Is the Commission considering introducing targeted co-financing programmes for private users and small businesses to set up the charging infrastructure required for electric vehicles, so as to encourage their wider deployment and availability?

    Submitted: 25.6.2025

    Last updated: 1 July 2025

    MIL OSI Europe News

  • MIL-OSI: Prospectus Approved for Listing of DNO’s USD 600 Million Bonds on Oslo Stock Exchange

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 1 July 2025 – DNO ASA, the Norwegian oil and gas operator, today announced that the Financial Supervisory Authority of Norway on 1 July 2025 approved the prospectus prepared in connection with the listing on the Oslo Stock Exchange of the Company’s 8.5 percent USD 600 million senior unsecured callable bonds issued on 27 March 2025 with maturity in March 2030 (ISIN: NO0013511113). Trading in the bonds is expected to commence shortly.

    The prospectus dated 1 July 2025 is available on the Company’s website www.dno.no.

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire and Yemen. More information is available at www.dno.no.

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    This release does not constitute any offer or solicitation to sell or purchase any securities. 

    The release may not be released, published or distributed in the United States of America or any other jurisdiction where release, publication or distribution would be prohibited or require any registration or filing acts or similar.

    The MIL Network