Day: November 4, 2022

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Morrow Sodali Strengthens Its Market Leading Position With New Australian Acquisition

Acquisition of key Australian financial communications and investor relations player, Citadel-MAGNUS will drive rapid growth and significant expansion

NEW YORK, Nov. 04, 2022 (GLOBE NEWSWIRE) — Morrow Sodali, the world’s leading shareholder engagement and governance advisory firm, announced today the acquisition of Australian financial communications and investor relations agency, Citadel-MAGNUS, its first since TPG Growth secured a majority stake in April of this year.

The Australian based acquisition represents a significant expansion of Morrow Sodali’s service offering in the APAC region to meet the rapidly growing global demand from corporations for strategic communications and investor engagement services.

The combination of Morrow Sodali and Citadel-MAGNUS brings together two trusted market leading consultancies to provide best in class strategic counsel and support to our clients. Citadel-MAGNUS will be fully integrated into Morrow Sodali enabling the firm to provide a seamless offering and the most comprehensive suite of investor relations and communications solutions to listed and private entities with the intention of rolling out the expanded services to other markets.

The acquisition marks a significant step forward in Morrow Sodali’s strategy to accelerate its growth by investing in services that create value for its clients world-wide.

Alvise Recchi, CEO of Morrow Sodali, commented, “As part of Morrow Sodali’s strategic global growth strategy, the addition of Citadel-MAGNUS will expand our service offering to encompass a broader suite of Board, C-Suite and ESG advisory, Investor Relations and Financial Communications services. We can’t wait to see the potential of this exciting opportunity realised as we continue to grow in new markets around the world.”

Christian Sealey, CEO of Morrow Sodali’s International Business added, “More and more, our clients are coming to us seeking advice and assistance across a wide array of areas covering shareholder communication, stakeholder engagement, capital markets intelligence, corporate governance and ESG advisory. Acquiring Citadel-MAGNUS enables us to provide strategic solutions for our clients and uniquely positions us to become their ongoing trusted partner of choice.”

Peter Brookes, Joint Managing Director of Citadel-MAGNUS said, “Our team is thrilled to be joining forces with Morrow Sodali. We are seeing a growing need to provide clients with an end-to-end offering across the financial calendar and increasingly complex event driven activity where good communication is paramount. The combination of our firms brings together two leading and trusted advisory companies that are deeply embedded in corporate Australia and who share a strong focus on delivering exceptional client service.”

About Morrow Sodali

Morrow Sodali is a global corporate advisory firm that provides clients with comprehensive advice and services relating to corporate governance, ESG, sustainability, proxy solicitation, capital markets intelligence, shareholder and bondholder engagement, M&A, activism and contested situations.

From headquarters in New York and London and offices in global capital markets, Morrow Sodali serves over 1,000 clients in more than 80 countries, including many of the world’s largest multinational corporations. Clients include listed and private companies, mutual fund groups, stock exchanges and membership associations.

In 2022, Morrow Sodali is celebrating its 50th anniversary and also secured a majority investment from TPG Growth, the middle market and growth equity platform of alternative asset firm TPG. This partnership will significantly advance the firm’s mission of providing clients worldwide with unrivalled strategic advice and comprehensive support, enabling them to maximize value and expertly manage stakeholder relations.

For more information about Morrow Sodali, please visit www.morrowsodali.com.

About Citadel-MAGNUS

Citadel-MAGNUS is a leading corporate and financial communication firm with offices in Sydney and Perth, servicing clients across Australia and internationally.

We have established a reputation for delivering outstanding results for our clients through trusted relationships, integrity and professional excellence. Our priority is to support clients’ business objectives through effective communication and a superior level of service.

Citadel-MAGNUS brings an unrivalled depth of financial markets, corporate and media experience to help companies address the challenges of today’s highly competitive and changing business environment. We have worked with companies in all sectors and of all sizes, and our success has led to established, long-term partnerships with business leaders and companies.

For more information, visit www.citadelmagnus.com.

CONTACT:

Elena Cargnello

Corporate Director, Marketing

e.cargnello@morrowsodali.com

+44 (0)20 4513 6913

GlobeNewswire Distribution ID 1000754955

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Miami International Holdings Reports October 2022 Trading Results; SPIKES Futures, MIAX Options and MIAX Pearl Equities Set Year-to-Date Volume Records

PRINCETON, N.J., Nov. 4, 2022 /PRNewswire/ — Miami International Holdings, Inc. today reported October 2022 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

October 2022 Trading Volume Highlights

  • Total U.S. multi-listed options market share for the MIAX Exchange Group reached 12.93%, representing a 9.7% year-over-year (YoY) decrease. A total of 107.3 million multi-listed options contracts were executed on the MIAX Exchange Group, representing a 3.6% decrease YoY and an average daily volume (ADV) of 5.1 million contracts. Total year-to-date (YTD) volume reached 1.1 billion contracts, a decrease of 2.9% from the same period in 2021.
  • MIAX Options reported record YTD volume of 450.0 million contracts, up 4.8% from the same period in 2021, with volume reaching 46.4 million contracts in October 2022, a 2.8% YoY increase. MIAX Emerald reported YTD volume of 263.7 million contracts, a 15.0% decrease from the same period in 2021, with volume totaling 25.0 million contracts in October 2022, a 31.9% YoY decrease. MIAX Pearl reported YTD volume of 354.8 million contracts, a 1.7% decrease from the same period in 2021, with volume totaling 35.8 million contracts in October 2022, a 21.5% YoY increase.
  • In U.S. equities, MIAX Pearl Equities™ reported volume of 2.6 billion shares in October 2022, representing an 81.6% increase YoY and a monthly market share of 1.08%. Total YTD volume reached a record 25.0 billion shares, a 232.7% increase from the same period in 2021.
  • In U.S. futures, MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reported trading volume of 184,807 contracts in October 2022, a 57.7% decrease YoY. Total YTD volume reached 2.9 million contracts, a decrease of 10.6% from the same period in 2021.
  • SPIKES® Futures YTD volume reached a record of 718,043 contracts in October 2022, a 33.4% increase YoY. SPIKES Futures volume totaled 44,694 contracts in October 2022, representing an 82.2% decrease YoY and an average daily volume of 2,128 contracts.

Additional MIAX Exchange Group and MGEX volume details are included in the following tables.

Multi-Listed Options Trading Volume for

 MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options
Contracts 		Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
Trading Days 21 21 21 209 209
U.S. Equity Options Industry 829,648,516 777,425,367 6.7 % 837,127,631 -0.9 % 7,952,581,435 7,674,101,467 3.6 %
MIAX Exchange Group 107,262,817 111,294,908 -3.6 % 97,335,822 10.2 % 1,068,416,653 1,100,449,785 -2.9 %
MIAX Options 46,440,650 45,154,248 2.8 % 42,928,688 8.2 % 449,986,492 429,285,202 4.8 %
MIAX Pearl 35,849,633 29,496,984 21.5 % 32,881,438 9.0 % 354,767,859 360,988,693 -1.7 %
MIAX Emerald 24,972,534 36,643,676 -31.9 % 21,525,696 16.0 % 263,662,302 310,175,890 -15.0 %
Multi-Listed Options ADV Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
U.S. Equity Options Industry 39,507,072 37,020,256 6.7 % 39,863,221 -0.9 % 38,050,629 36,718,189 3.6 %
MIAX Exchange Group 5,107,753 5,299,758 -3.6 % 4,635,039 10.2 % 5,112,041 5,265,310 -2.9 %
MIAX Options 2,211,460 2,150,202 2.8 % 2,044,223 8.2 % 2,153,045 2,053,996 4.8 %
MIAX Pearl 1,707,125 1,404,618 21.5 % 1,565,783 9.0 % 1,697,454 1,727,219 -1.7 %
MIAX Emerald 1,189,168 1,744,937 -31.9 % 1,025,033 16.0 % 1,261,542 1,484,095 -15.0 %
Multi-Listed Options Market Share for

MIAX Exchange Group, Current Month

Year-to-Date Comparison
Multi-Listed Options Market
Share 		Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
MIAX Exchange Group 12.93 % 14.32 % -9.7 % 11.63 % 11.2 % 13.43 % 14.34 % -6.3 %
MIAX Options 5.60 % 5.81 % -3.6 % 5.13 % 9.2 % 5.66 % 5.59 % 1.2 %
MIAX Pearl 4.32 % 3.79 % 13.9 % 3.93 % 10.0 % 4.46 % 4.70 % -5.2 %
MIAX Emerald 3.01 % 4.71 % -36.1 % 2.57 % 17.1 % 3.32 % 4.04 % -18.0 %

 

Equities Trading Volume for

MIAX Pearl Equities, Current Month

Year-to-Date Comparison
Equities Shares (millions) Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
Trading Days 21 21 21 209 209
U.S. Equities Industry 241,264 218,292 10.5 % 239,417 0.8 % 2,517,634 2,399,764 4.9 %
Miax Pearl Volume 2,595 1,429 81.6 % 2,784 -6.8 % 25,004 7,516 232.7 %
MIAX Pearl ADV 124 68 81.6 % 133 -6.8 % 120 36 232.7 %
MIAX Pearl Market Share 1.08 % 0.65 % 64.3 % 1.16 % -7.5 % 0.99 % 0.31 % 217.1 %

 

Futures & Options Trading Volume for

MGEX, Current Month

Year-to-Date Comparison
Futures & Options Contracts Oct-22 Oct-21 % Chg Sep-22 % Chg Oct-22 Oct-21 % Chg
Trading Days 21 21 21 209 209
MGEX Futures Volume 184,807 436,943 -57.7 % 310,233 -40.4 % 2,895,436 3,237,124 -10.6 %
MGEX ADV 8,800 20,807 -57.7 % 14,773 -40.4 % 13,854 15,489 -10.6 %

 

About MIAX

MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), Minneapolis Grain Exchange, LLC (MGEX™), The Bermuda Stock Exchange (BSX™) and Dorman Trading, LLC (Dorman Trading).

MIAX, MIAX Pearl and MIAX Emerald are national securities exchanges registered with the Securities and Exchange Commission (SEC) that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all three exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures and also serves as the exclusive market for SPIKES Futures. MGEX is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and cash market services in an array of asset classes.

BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.

Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.

MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional offices located in Miami, FL, Minneapolis, MN, Hamilton, Bermuda and Chicago, IL.

To learn more about MIAX visit www.MIAXOptions.com.

To learn more about MGEX visit www.mgex.com.

To learn more about BSX visit www.bsx.com.

To learn more about Dorman Trading visit www.dormantrading.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements

The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
anybo@miami-holdings.com

Logo – https://mma.prnewswire.com/media/1396492/MIAX_Logo.jpg

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Climate and Development: An Agenda for Action: Emerging Insights from World Bank Group 2021-2022 Country and Climate Reports

WASHINGTON, Investing an average of 1.4% of GDP annually could reduce emissions in developing countries by as much as 70% by 2050 and boost resilience, according to a new report from the World Bank Group.

The analysis, Climate and Development: An Agenda for Action, compiles and harmonizes results from the Bank Group’s Country Climate and Development Reports, covering over 20 countries that account for 34% of the world’s greenhouse gas (GHG) emissions. It shows that investment needs are markedly higher in lower-income countries which are more vulnerable to climate risk, often exceeding 5% of GDP. These countries will need increased amounts of concessional finance and grants to manage climate change impacts and develop along a low-carbon path.

The report draws from the richness of the individual country reports and highlights lessons for countries on integrating climate and development objectives. It finds that this approach to climate action can help them manage the negative impacts of climate change, while generating positive impacts on GDP and economic growth, and delivering critical development outcomes such as reducing poverty. The key conditions for success include impactful reforms, improved allocation of public resources, higher mobilization of private capital, and significant financial support from the international community.

“Achieving climate and development objectives must go hand in hand. Climate action is a key global public good, requiring significant new financing from the global community and mechanisms for inflows,” said World Bank Group President David Malpass, “Well prioritized and sequenced climate actions, strong participation of the private sector, substantial international support and a just transition are critical components for impact.”

The report also notes that while all countries have to increase their climate action, high income countries with their greater responsibility for emissions need to lead the way with deeper and more rapid decarbonization, as well as increased financial support to lower income countries. Major current and future emitters in the developing world also have a key role to play for the world to achieve the goals of the Paris Agreement. The report also examines the technologies and innovations needed for lower carbon intensity production of electricity, steel, cement, and manufacturing, and how the world will build green and efficient supply chains for a sustainable future.

Country Climate and Development Reports combine the best available data, models, and tools and aim to provide policymakers with immediate and actionable recommendations to guide climate and development decisions today. They are a core element of the World Bank Group’s Climate Change Action Plan, which outlines how the WBG will support climate action in developing countries.

Countries need to prioritize and sequence key investments and policy reforms, according to the report. These will deliver multiple benefits. And emission reductions can deliver immediate development outcomes such as reduced vulnerability to fossil fuel price volatility, improved trade balances and enhanced energy security, and better air quality and related positive health impacts. Early action can also avoid locking countries into high emitting infrastructure and systems, which will be costly or even impossible to transform in the future.

This analysis covers over 20 countries including: Argentina, Bangladesh, Burkina Faso, Cameroon, Chad, China, Arab Republic of Egypt, Ghana, Iraq, Jordan, Kazakhstan, Malawi, Mali, Mauritania, Morocco, Nepal, Niger, Pakistan, Peru, Philippines, Rwanda, South Africa, Türkiye, and Vietnam. The findings from these analyses will inform Bank Group engagements with public and private sector clients and will feed into the Bank Group’s own country engagement frameworks and operational portfolio.

Source: World Bank

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Los países podrían reducir las emisiones en un 70 % para 2050 y aumentar la resiliencia invirtiendo el 1,4 % del PIB al año

Los países de ingreso bajo y mediano pueden hacer la transición hacia modelos de crecimiento resiliente y con bajas emisiones de carbono si se cumplen determinadas condiciones clave con el apoyo internacional

CIUDAD DE WASHINGTON, 3 de noviembre de 2022. De acuerdo con un nuevo informe del Grupo Banco Mundial, invertir un promedio del 1,4 % del producto interno bruto (PIB) al año permitiría reducir las emisiones de los países en desarrollo en un 70 % para 2050 e incrementar la resiliencia.

En el análisis, Climate and Development: An Agenda for Action (Clima y desarrollo: Una agenda para la acción), se compilan y armonizan los resultados de los informes sobre el clima y el desarrollo de los países (i) del Grupo Banco Mundial, que abarcan más de 20 países que representan el 34 % de las emisiones mundiales de gases de efecto invernadero (GEI). Se muestra que las necesidades de inversión son notablemente mayores en los países de ingreso bajo que son más vulnerables al riesgo climático, donde a menudo superan el 5 % del PIB. Estos países necesitarán mayores volúmenes de financiamiento en condiciones concesionarias y donaciones para gestionar los impactos del cambio climático y desarrollarse dentro de un modelo con bajas emisiones de carbono.

El informe se basa en la riqueza de los informes de cada país y pone de relieve las enseñanzas que pueden extraer los países sobre la integración de los objetivos climáticos y de desarrollo. Se concluye que este enfoque puede ayudarlos a gestionar los impactos negativos del cambio climático, generando, al mismo tiempo, impactos positivos en el PIB y el crecimiento económico, y resultados de desarrollo cruciales, como la reducción de la pobreza. Las condiciones clave para el éxito incluyen reformas de gran impacto, una asignación más adecuada de los recursos públicos, una mayor movilización de capital privado y un importante apoyo financiero de la comunidad internacional.

“El logro de los objetivos climáticos y de desarrollo debe ir de la mano. La acción climática es un bien público mundial clave que requiere grandes volúmenes de financiamiento adicional de la comunidad mundial y mecanismos para abordar la afluencia de recursos”, declaró David Malpass, presidente del Grupo Banco Mundial. “Las medidas climáticas bien priorizadas y secuenciadas, la fuerte participación del sector privado, el amplio apoyo internacional y una transición justa son componentes cruciales para lograr un impacto”.

En el informe también se señala que, si bien es necesario que todos los países intensifiquen su acción climática, los países de ingreso alto que tienen mayor responsabilidad por las emisiones deben tomar la iniciativa llevando adelante una descarbonización más profunda y rápida, y brindando un mayor apoyo financiero a los países de ingreso bajo. Los principales emisores actuales y futuros del mundo en desarrollo también desempeñan un papel clave para que el mundo logre los objetivos del Acuerdo de París. En el informe también se examinan las tecnologías e innovaciones necesarias para reducir la intensidad de las emisiones de carbono en la producción de electricidad, acero, cemento y manufacturas, y la manera en que el mundo creará cadenas de suministro ecológicas y eficientes para un futuro sostenible.

Los informes sobre el clima y el desarrollo de los países combinan los mejores datos, modelos y herramientas disponibles, y tienen como objetivo proporcionar a los responsables de la formulación de políticas recomendaciones inmediatas y factibles para orientar las decisiones sobre el clima y el desarrollo en la actualidad. Constituyen un elemento central del Plan de Acción sobre el Cambio Climático, en el que se describe la manera en que el Grupo Banco Mundial respaldará la acción climática en los países en desarrollo.

Según el informe, los países deben priorizar y secuenciar las inversiones y las reformas normativas clave. Esto generará múltiples beneficios. Asimismo, la reducción de las emisiones puede generar resultados inmediatos en términos de desarrollo, como una menor vulnerabilidad a la volatilidad de los precios de los combustibles fósiles, una balanza comercial más favorable y mayor seguridad energética, así como una mejor calidad del aire y efectos positivos afines en la salud. La adopción de medidas tempranas también puede evitar que los países acaben encerrados en infraestructuras y sistemas con altos niveles de emisión, que serán costosos o incluso imposibles de transformar en el futuro.

El análisis abarca más de 20 países, entre ellos: Argentina, Bangladesh, Burkina Faso, Camerún, Chad, China, Filipinas, Ghana, Iraq, Jordania, Kazajstán, Malawi, Malí, Marruecos, Mauritania, Nepal, Níger, Pakistán, Perú, la República Árabe de Egipto, Rwanda, Türkiye, Sudáfrica y Vietnam. Los resultados de estos estudios orientarán la labor del Grupo Banco Mundial con clientes de los sectores público y privado, y se incorporarán en los marcos de interacción con los países y la cartera de operaciones de la institución.

Source: World Bank

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Un investissement de 1,4 % du PIB par an permettrait de réduire les émissions de 70 % d’ici à 2050 et de renforcer la résilience des pays

Les pays à revenu faible ou intermédiaire peuvent évoluer vers des modes de croissance sobres en carbone et résilients, sous réserve notamment d’une aide internationale significative

WASHINGTON, 3 novembre 2022 — Selon une nouvelle publication du Groupe de la Banque mondiale, un investissement de 1,4 % du produit intérieur brut (PIB) par an en moyenne permettrait de réduire de 70 % les émissions des pays en développement d’ici à 2050 et de renforcer leur résilience.

Climate and Development: An Agenda for Action compile et analyse les résultats des différents rapports nationaux sur le climat et le développement (a) produits jusqu’à ce jour par le Groupe de la Banque mondiale et qui portent sur plus de 20 pays, responsables de 34 % des émissions mondiales de gaz à effet de serre (GES). Il en ressort que les besoins en investissements sont nettement plus élevés dans les pays à faible revenu, plus vulnérables au risque climatique, et qu’ils dépassent souvent 5 % du PIB. Ces pays auront besoin de davantage de financements à des conditions préférentielles et de dons pour gérer les effets du dérèglement du climat et s’engager sur une trajectoire de développement à faible émission de carbone.

Le rapport bénéficie des nombreuses informations et données recueillies par les différents rapports nationaux et en tire des enseignements pour l’intégration des objectifs climatiques et de développement. Il constate que cette approche de l’action climatique peut aider les pays à gérer les conséquences négatives du changement climatique, tout en générant des effets positifs sur le PIB et la croissance économique, et en permettant d’obtenir des résultats déterminants en matière de développement, comme la réduction de la pauvreté. La réussite passe par l’adoption de réformes efficaces, une meilleure affectation des ressources publiques, une plus grande mobilisation des capitaux privés et un soutien financier important de la part de la communauté internationale.

« Les objectifs climatiques et les objectifs de développement doivent aller de pair. L’action climatique est un bien public mondial essentiel, qui requiert de nouveaux financements importants de la part de la communauté mondiale et des mécanismes à même de favoriser les flux de capitaux », explique David Malpass, président du Groupe de la Banque mondiale. « Pour y parvenir, il faut des actions climatiques bien hiérarchisées et ordonnées, une solide participation du secteur privé, un soutien international substantiel et une transition juste. »

Selon le rapport, si tous les pays doivent intensifier leur action en faveur du climat, les pays à revenu élevé, qui portent une responsabilité plus lourde en termes d’émissions, doivent montrer la voie en opérant une décarbonation plus poussée et plus rapide et en renforçant leur soutien financier aux pays à faible revenu. Les gros émetteurs d’aujourd’hui et de demain dans le monde en développement ont également un rôle clé à jouer pour que le monde atteigne les objectifs de l’accord de Paris. En outre, le rapport s’intéresse aux technologies et aux innovations nécessaires à la production d’électricité, d’acier, de ciment et de produits manufacturés à plus faible intensité de carbone, ainsi qu’à la création de chaînes d’approvisionnement écologiques et performantes pour un avenir durable.

Les rapports nationaux sur le climat et le développement combinent les meilleurs modèles, données et outils disponibles et visent à fournir aux responsables publics des recommandations immédiates et concrètes afin de guider dès aujourd’hui leurs décisions en matière de climat et de développement. Ils forment un pan essentiel du Plan d’action sur le changement climatique du Groupe de la Banque mondiale, qui expose la manière dont le Groupe soutiendra l’action climatique dans les pays en développement.

Toujours selon le rapport, les pays doivent prioriser et échelonner les investissements et les réformes indispensables, avec à la clé de multiples bienfaits. La réduction des émissions peut en outre avoir des effets immédiats sur le développement : moindre vulnérabilité à la volatilité des prix des combustibles fossiles, amélioration de la balance commerciale et de la sécurité énergétique, meilleure qualité de l’air et effets positifs sur la santé. Une action précoce peut également éviter que les pays s’enferment dans des infrastructures et des systèmes à fortes émissions, qu’il sera coûteux, voire impossible, de transformer à l’avenir.

Le rapport couvre les pays suivants : Afrique du Sud, Argentine, Bangladesh, Burkina Faso, Cameroun, Chine, République arabe d’Égypte, Ghana, Iraq, Jordanie, Kazakhstan, Malawi, Mali, Maroc, Mauritanie, Népal, Niger, Pakistan, Pérou, Philippines, Rwanda, Tchad, Türkiye et Viet Nam. Ses conclusions nourriront les activités du Groupe de la Banque mondiale avec ses clients des secteurs public et privé et viendront étayer l’élaboration de ses cadres de collaboration et de ses portefeuilles de projets avec les pays.

Soure: World Bank

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COP27 needs a tremendous focus on action, Commonwealth of Dominica looking to share scalable solutions

Roseau, Nov. 04, 2022 (GLOBE NEWSWIRE) — There are a few days left until COP27 takes place in the Egyptian city of Sharm El-Sheikh from 6 to 18 November and the Commonwealth of Dominica, like many nations around the world, will be watching to see if this summit finally brings action and implementation of proposals and promises.

“We are at the stage where we can no longer use these events as talk shops, but rather, we need to be laser-focused and intentional about developing actionable plans to tackle the biggest challenge of our time – climate change,” says Dr. Vince Henderson, Dominica’s minister for planning, economic development, climate resilience, sustainable development, and renewable energy.

Small island nations like Dominica, are not the only countries facing extreme weather conditions as a result of global warming. UN Secretary-General António Guterres mentioned to journalists in New York recently that a third of Pakistan is flooded, Europe is experiencing its hottest summer in 500 years, the Philippines is dealing with the aftermath of tropical storm Paeng and in the United States, Category 4 Hurricane Ian was just another reminder of the climate crisis.

Dominica has been on a path to be the world’s first climate-resilient nation following Hurricane Maria which left an estimated 90 percent of buildings damaged or destroyed in 2019.

This year, at COP27, Dominica wants to showcase how it will reach climate resiliency by 2030. The country has implemented a number of projects that can be used as case studies that can be used as a flywheel of action.

“Everybody is talking about sustainability and climate change and why we need to reduce carbon emissions, the issue is how we are going to make a meaningful impact. For people to translate insight into action, they need to see good examples that motivate them, and we believe Dominica has an abundance of examples that are yielding results,” continues Minister Henderson.

In response to the destruction caused by Hurricane Maria, Dominica launched a climate resilience policy framework to help guide its recovery journey in the form of the National Resilience Development Strategy 2030 (NRDS).

The Climate Resilience and Recovery Plan of Dominica aim to build strong communities, build a robust economy, have a well-planned and durable infrastructure; strengthen institutional systems and, protect and sustain natural and other unique assets.

It centres around three pillars: structural resilience, financial resilience, and post-disaster resilience.

Structural resilience: The government of Dominica is building a resilient infrastructure capable of withstanding natural disasters, including Category 5 hurricanes. It includes the construction of 5 000 climate-resilient homes, healthcare centres, roads, bridges, airports, and schools.

Financial Resilience: The government of Dominica is implementing institutional fiscal reform to ensure stronger fiscal resilience which will aid in the strengthening of debt sustainability utilising several key institutional fiscal areas.

Post Disaster and Social Resilience: This pillar helps encourage farmers to plant more root crops which are more resilient to heavy rain and wind, and increases farmer training programmes and government assistance with the provision of seeds and fertilizers. The government’s plan to strengthen food security includes specific policies for the resiliency of the agriculture and fisheries industries.

With 2022 set to rank among the 10 warmest years on record, according to the US National Oceanic and Atmospheric Administration, Dominica is also constructing a geothermal power plant which will increase the country’s share of renewables and diversify the country’s energy matrix. The Commonwealth of Dominica already obtains 28% of its energy requirements from renewable energy sources such as hydropower and wind.

The UN is urging the world’s industrialized nations to ‘lead by example’ by taking ‘bold and immediate actions’. One of these nations includes the United States of America and with President Joe Biden confirmed to attend, it is said he will build on the significant work the United States has undertaken to advance the global climate fight and help the most vulnerable build resilience to climate impacts.

Last year, Biden arrived at COP26 largely empty handed and this year he will promote the passage of the Inflation Reduction Act, a bill that devotes hundreds of billions of dollars to clean energy initiatives and brings Biden’s pledge to cut United States emissions in half by 2030 closer within reach.

The Conference of the Parties (COP) is the group of nations that have signed the UN Framework Convention on Climate Change (UNFCCC), which was put together in 1992. It commits them to act together to stabilize greenhouse gas concentrations “at a level that would prevent dangerous anthropogenic (human-induced) interference with the climate system”. Since then, the parties, or nations, have met almost annually.

COP26 was held in the Scottish city of Glasgow in November 2021 and it brought together 120 world leaders and representatives from almost 200 countries. It culminated in the Glasgow Climate Pact, which reaffirmed the 2015 Paris Agreement goal of “limiting the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit it to 1.5°C”.

PR Dominica
Commonwealth of Dominica
001 (767) 266 3919
mildred.thabane@csglobalpartners.com
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