Japan prioritizes offshore wind energy, showing dedication to sustainable…
Notes from the editor:
Experts have acknowledged the significant potential of offshore wind development in helping Japan achieve its renewable energy goals. Japan has set a target of installing 45 GW of offshore wind power by 2040, with an estimated long-term potential of 1,100 GW. However, securing capital in this sector is challenging, and the bidding process for offshore wind projects is typically complex and lengthy. The second round of offshore wind tenders in Japan requires careful consideration of regulations, pricing, and allocations. Collaboration among stakeholders is essential to maximize Japan's offshore wind capacity.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.Who is Germán & Co?
From Puerto Octay, overlooking Llanquihue Lake in southern Chile, the setting for Gaspar Antillo's film Nobody Knows I'm Here, I try to examine the mind of my friend and colleague, Germán Toro Ghio.
'In the divine vineyard, you choose your own path is a beautiful metaphor.'
As we make our way along the journey of life, some of us choose to travel in the fast lane in vehicles with sleek engines and plush seats, while some of us prefer slower speeds and budget-friendly tolls on scenic routes. Some of us endure crowded buses with loud music or navigate challenging terrains, facing harsh weather conditions and wildlife.
Germán’s stories feature individuals who have chosen unconventional paths in the journey of life: some of them use elevators, rappel down cliffs, or fly in contraptions. His explorations endlessly take his viewers on exciting adventures, from the unease of a Moscow hotel to the excitement of jungle escapades in Nicaragua, from brilliantly-lit worlds pulsing with electricity to dark worlds immersed in infinite blackouts.
Finally, Germán tantalizes us with an eclectic mix in his creative pot, leaving us eager for more of his daily works. His narratives enrich and untangle the most complex history by shedding light on experiences beyond the battlefields and palaces.
Juan Forch
*Juan Forch is a political scientist, filmmaker, writer, publicist and the co-creator of the influential "NO" political campaign, a significant milestone in the history of political communication. His unique creations have inspired an Oscar-nominated film by Pablo Larraín featuring Gael García Bernal, solidifying his legacy as a political marketing mastermind. Monday thought…
Last year in the 5th edition of Japan Energy Wind, industry experts recognized the vast potential of offshore wind development, showcasing significant promise for Japan's renewable energy goals. The country has ambitiously targeted installing up to 45 GW of offshore wind power by 2040 to meet its clean energy objectives. With an estimated long-term potential for offshore wind power reaching around 1,100 GW, the region demonstrates a wealth of untapped opportunities for expanding renewable energy sources.
Unfortunately, the bidding process is known for its complexity and lengthy duration, spanning a period of 6 to 8 years. This illness remains a prevalent and widespread issue on a global scale. Institutional investment plays a crucial role in fueling industry growth, as it provides the necessary financial support for companies to thrive. Despite its benefits, raising capital in this sector remains a challenging endeavor primarily due to the inherent risks associated with construction projects.
In Japan's second round of offshore wind tenders, careful consideration of the new rules, critical issues like pricing, and point allocations is essential. The fate of floating wind energy in Japan hinges on the removal of the 12 nautical mile restriction. Forecasts predict a flourishing industry beyond 2030. Developers are grappling with obstacles related to port access and efficient vessel logistics, demanding swift resolution to propel project advancements. Effective collaboration among stakeholders, encompassing governments, financial institutions, technology suppliers, and service providers, is paramount for capitalizing on investment prospects and unleashing Japan's offshore wind capacity to its fullest.
In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
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Thank you for your kind contributions…
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"Imagine a crystal-clear river flowing through the creation of a vast and boundless sustainable park that stretches to every corner of the world. This analogy perfectly captures AES's remarkable efforts in the global energy industry...
The serene Toyana bay in Japan. Germán & Co via Shutterstock.
TOKYO, March 15 (Reuters) - A group of Japanese energy firms including Mitsubishi's wind power unit, JERA and Tokyo Gas, have set up an association to boost the development of floating offshore wind farms and jointly create technology, they said on Friday.
Japan aims to become a major offshore wind power producer, with the government targeting 10 gigawatt (GW) projects by 2030 and up to 45 GW by 2040 as part of its decarbonisation push, for which floating offshore wind is essential.
The group of 14 companies said they have set up the Floating Offshore Wind Technology Research Association to realize commercialisation of large-scale floating offshore wind farms in a wide area by jointly developing technology and creating international standards with overseas organizations.
Floating offshore wind power is seen as a way to ensure Japan has a stable and sustainable energy supply and its development will also stimulate the local economy and promote Japanese industries, the group said in a statement.
Other members include Nippon Telegraph and Telephone's energy unit, Tohoku Electric Power, Kansai Electric Power and Marubeni Corp's wind power unit .
The move, first reported by a local media, comes as the Japanese government this week approved a draft amendment to existing legislation to allow for the installation of offshore wind power in exclusive economic zones (EEZ), a milestone towards the country's goal of carbon neutrality by 2050.
Japan aims to lead global offshore wind energy production alongside China and Britain, transitioning to a zero-emission economy for enhanced energy security.
Although Japanese companies have offshore wind assets in countries from Taiwan to Belgium and Britain, they have yet to build large-scale farms at home.
Japan plans to announce by the end of March the winners of a second major round of offshore wind tenders to build 1.8 gigawatt (GW) of capacity in four areas.
HOW DOES JAPAN PLAN TO BOOST CAPACITY?
Japan's 136 megawatt (MW) of offshore wind capacity installed by 2022 was a fraction of Britain's nearly 14 GW and China's 31 GW, the Global Wind Energy Council says.
It aims to have 10 GW by 2030, with up to 45 GW operational by 2040, as it targets a share of 36% to 38% for renewables in its electricity mix by the end of this decade, compared to about 20% now, in its race to be carbon neutral by 2050.
A Marubeni-led consortium (8002.T), opens new tab launched Japan's first large-scale commercial offshore wind operations at Noshiro port (84 MW) and Akita port (55 MW) in late 2022 and early 2023.
Danish wind turbine maker Vestas (VWS.CO), opens new tab provided bottom-fixed turbines for Marubeni's farms.
WHAT WAS THE RESULT OF THE FIRST ROUND?
A Mitsubishi-led consortium (8058.T), opens new tab won all three offshore wind farm auctions in 2021 in the regions of Akita and Chiba, with combined capacity of 1.7 GW and a target start-up date of 2028 to 2030.
00:04Shell scales back 2030 carbon emissions target
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All will have bottom-fixed structures. General Electric (GE.N), opens new tab will make 134 wind turbines, each of capacity 13 MW, to be assembled and maintained by Japan's Toshiba (6502.T), opens new tab.
The first round spurred interest by foreign companies in entering the Japanese market, among them Denmark's Orsted (ORSTED.CO), opens new tab, Germany's RWE (RWEG.DE), opens new tab and Norway's Equinor (EQNR.OL), opens new tab.
WHAT HAPPENS IN THE SECOND ROUND?
The government wrapped up its six-month auction for another 1.8 GW of capacity in four areas on June 30, with winners set to be announced by the end of March 2024, or even as soon as December.
The revised rules bar companies from revealing intent to bid.
For the second round, the ministry of economy, trade and industry (METI) set a bid price cap of 19 yen per kilowatt hour (kWh), below the first round figure of 29 yen, except for Enoshima, where construction challenges kept the ceiling at 29 yen.
JERA, Japan's top power generator, said it was running environmental assessments of the Oga-Katagami-Akita project and the Happo-Noshiro project.
Other companies making assessments - an indication of a bid - included Mitsui & Co (8031.T), opens new tab, Osaka Gas (9532.T), opens new tab, TEPCO Renewable Power (9501.T), opens new tab, Itochu Corp (8001.T), opens new tab, Tokyo Gas (9531.T), opens new tab, Marubeni and some foreigners, environmental ministry documents show.
The government is gathering public opinion until Dec. 17 for a third round of auctions to offer 1.05 GW on two offshore wind farms.
WHAT ARE THE PLANS FOR FLOATING OFFSHORE PLANTS?
In 2021, the government selected a consortium of six companies led by Toda Corp (1860.T), opens new tab to build the 16.8 MW Goto floating offshore wind farm in Nagasaki prefecture. It was the only auction bidder for the small project.
In September, Toda and its partners flagged a two-year delay in startup of the Goto project, to January 2026, because of defects in a floating structure.
Japan is preparing a new roadmap for floating offshore wind power by the end of March 2024.
WHAT CONSTRAINTS AWAIT?
METI recommends a domestic share of 60% of the supply chain by 2040. All major global renewable energy companies, from Orsted and RWE to BP, Equinor and Iberdrola, have set up offices in Japan.
GE Renewable Energy (GE.N), opens new tab has teamed with Toshiba Energy Systems & Solutions to make GE's Haliade-X offshore wind turbines near Tokyo from 2026, turning out about 80 units a year, or 1 GW annually.
The partnership is the sole nacelle supplier for the first round.
If you require assistance with political, corporate communication, public relations, or crisis management uncertainties, please feel free to reach out to Germán & Co.
Our dedicated expertise is available for a fee of 99.9 Euros, guaranteeing a prompt response within eight hours and upholding the highest levels of confidentiality.
Take advantage of the opportunity to leverage our expertise and experience.
What Another Six Years of Putin May Bring for Russia and the World…
Notes from the editor:
The growing potential for a widespread blackout is becoming more alarming as the pressure on the power grid intensifies.
Many will claim this is madness... Yet, the reality differs...
In the 2021 Electricity Market report from the International Energy Agency (IEA) warns of a significant increase in global electricity consumption. And this stark warning from the IEA came eight months before the Soviet gas squeeze left Europe in a serious supply restriction crisis, and the most severe damage to the economy... Last week came another warning to this effect from the Washington Post...
The truth is that the market is currently being overlooked, necessitating a closer examination of its requirements to provide the necessary adaptability to accommodate the increasing prevalence of renewable energy sources.
Regulatory frameworks need to be updated and adjusted to the current surge in energy demand to facilitate a seamless transition to emerging technologies. Achieving a successful market transition requires a delicate balance between sustainability, reliability, and affordability.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.Who is Germán & Co?
From Puerto Octay, overlooking Llanquihue Lake in southern Chile, the setting for Gaspar Antillo's film Nobody Knows I'm Here, I try to examine the mind of my friend and colleague, Germán Toro Ghio.
'In the divine vineyard, you choose your own path is a beautiful metaphor.'
As we make our way along the journey of life, some of us choose to travel in the fast lane in vehicles with sleek engines and plush seats, while some of us prefer slower speeds and budget-friendly tolls on scenic routes. Some of us endure crowded buses with loud music or navigate challenging terrains, facing harsh weather conditions and wildlife.
Germán’s stories feature individuals who have chosen unconventional paths in the journey of life: some of them use elevators, rappel down cliffs, or fly in contraptions. His explorations endlessly take his viewers on exciting adventures, from the unease of a Moscow hotel to the excitement of jungle escapades in Nicaragua, from brilliantly-lit worlds pulsing with electricity to dark worlds immersed in infinite blackouts.
Finally, Germán tantalizes us with an eclectic mix in his creative pot, leaving us eager for more of his daily works. His narratives enrich and untangle the most complex history by shedding light on experiences beyond the battlefields and palaces.
Juan Forch
*Juan Forch is a political scientist, filmmaker, writer, publicist and the co-creator of the influential "NO" political campaign, a significant milestone in the history of political communication. His unique creations have inspired an Oscar-nominated film by Pablo Larraín featuring Gael García Bernal, solidifying his legacy as a political marketing mastermind. Sunday thought in the quiet of the moment…
EU president congratulates Putin on ‘landslide’ win … as Russian voting kicks off.
“No opposition. No freedom. No choice,” blasted sarcastic Charles Michel.
A zinger from Charles Michel! Yes, really.
The European Council president congratulated Vladimir Putin on his big win in the Russian presidential election — just as three days of voting began Friday.
“I would like to congratulate Vladimir Putin on his landslide victory in the elections starting today,” blasted Michel, who is more renowned for diplomatic faux pas than social media snark. “There is no opposition, no freedom, no choice.”
POLITICO EU BY CLAUDIA CHIAPPA In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy CentralDon't miss out on the chance to show us some love by tossing a coin our way and signing up for our newsletter. Your support is like a ray of sunshine on a cloudy day, fueling our passion to keep churning out awesome content just for you. We're beyond grateful to have you as part of our tribe!
Thank you for your kind contributions…
Have a wonderful day filled with good health, happiness, and love…
"Imagine a crystal-clear river flowing through the creation of a vast and boundless sustainable park that stretches to every corner of the world. This analogy perfectly captures AES's remarkable efforts in the global energy industry...
Image by Germán & Co via Shutterstock...Vladimir Putin’s fifth term in office will likely be dominated by the war in Ukraine and making sure Russians support it
WSJ By Ann M. Simmons, March 17, 2024What’s next for Vladimir Putin?
After 24 years in the Kremlin, the Russian leader is on the cusp of securing another six years as president as this weekend’s presidential election winds up Sunday. The vote itself is largely a formality, putting him on the path to becoming Russia’s longest-serving leader since Stalin. His government pulled out all the stops to secure the win. It jailed critics, muzzled the press and introduced new laws to stamp out anything that could be considered criticism of his war in Ukraine. Putin’s most effective opponent, Alexei Navalny, was gone, found dead in an Arctic prison camp last month where he was serving out sentences totaling 30 years in circumstances that haven’t been fully explained.
What matters more is the extent of his victory. Putin, now 71 years old, doesn’t just want to win. Analysts who follow the country’s politics say he needs to win big if he wants a free hand in reviving what he says are Russia’s conservative Orthodox traditions and, ultimately, prevailing in Ukraine and in his broader confrontation with the West.
“This would legitimize Putin’s legacy and his war of aggression, relegating the remaining opposition to an even more marginalized role, and allowing Putin to implement, unchecked, his vision for the next six years,” the European Parliament Think Tank, which provides analysis and research on policy issues relating to the European Union, said in a briefing paper this month.
The last presidential election in 2018 put turnout at 67.5%, with close to 77% of the vote going to Putin, according to government data. The Kremlin has made clear it wants even higher numbers this time around to provide the Russian leader a free hand in pursuing his objectives, following the “tradition of post-election carte blanche for Putin,” as Boris Vishnevsky, deputy head of the opposition party Yabloko, put it in comments posted on his Telegram channel.
Putin has already signaled some of his plans in speeches and interviews. Chief among them is his insistence on carrying on the war in Ukraine as the U.S.’s support for Kyiv shows signs of wavering.
“I think this is what the election was about—that this is a national war, that he’s the leader of the nation in this existential struggle to maintain Russia’s role in the world, to maintain Russia’s territorial integrity,” said Angela Stent, author of the book “Putin’s World: Russia Against the West and With the Rest” and a senior adviser at the Washington, D.C. -based United States Institute of Peace. “Everything that he has signaled is that he’s going to continue the war.”
Observers predict the Russian leader could soon launch another wave of arrests and detentions at home, new laws to stifle dissent and increased taxes on the rich. Analysts said there could also be a new wave of mobilizations to reinforce Russia’s growing advantage on the battlefield in Ukraine.
“What we have seen recently is an increase in activity of Russian intelligence and security services, which are extremely aggressive,” a reflection of the regime’s pre-election paranoia, Andrei Soldatov, a senior fellow at the Washington, D.C.-based Center for European Policy Analysis told a media briefing on Thursday. “Because it is political stability which is at stake, everything is justifiable, including the killing of political opponents [and] attacks abroad,” he said.
Soldatov predicted the clampdown on criticism evident in the run-up to the election will continue once the vote is done, following a familiar pattern in Russia.
“They use the election as an excuse, and then they just make these methods and activities part of their playbook. My biggest concern is that they’re going to be using this for months and months to come,” he said.
Putin may face a more delicate balancing act in keeping Russia’s economy ticking. It has fared relatively well despite Western sanctions, with trade with China and buoyant oil prices helping to insulate the country’s political and business elite from any real hardship. Analysts said he would likely focus on making sure Russians continue living life as normal, while also announcing plans to spend billions of dollars to tackle poverty and to rebuild much of the country’s aging infrastructure as more of the economy goes into a war footing.
To pay for it, Putin has proposed a more progressive taxation system that some analysts suggested was aimed at appeasing poorer Russians who are making more sacrifices, both financially and in terms of family members being drafted to fight in the war.
“Truly, the distribution of the tax burden should be fair in the sense that corporations, legal entities, and individuals who earn more should contribute more to the national treasury, towards addressing nationwide problems, primarily towards fighting against poverty,” he said in an interview on state television on Wednesday.
He also spoke of creating a new elite composed of veterans and those who served in the Ukraine war and has called for them to be given more support, including academic opportunities and training.
“The true, real elite is everyone who serves Russia, workers and warriors, reliable, proven, who have proven their devotion to Russia, worthy people,” Putin said.
Some analysts described such rhetoric as empty pre-election promises. What seems more realistic, they said, was that Putin could eventually order a second mobilization, needed to gain a battlefield advantage at a time when Ukraine has faced some foot-dragging from Western nations supporting its military campaign.
Putin’s first draft of some 300,000 men in September 2022 sent hundreds of thousands fleeing across the border, among them droves of young professionals. The Russian leader will need to find a way to prevent a repetition of the exodus, such as closing the border, some analysts said.
“There’s no evidence they wouldn’t incur the same kind of resistance if he did it in the next few months,” Stent said. Though some polls show that Russians largely support the war, “it’s another thing to have their fathers, sons, brothers mobilized and sent to fight,” she said.
Other Russia watchers suggested that in addition to throwing more money at potential contract soldiers, another way to replenish the troops on the battlefield would be to draw more conscripts into the fight.
Under Russian law, conscripts aren’t supposed to be deployed to fight in Ukraine, only reservists who have completed their military service and training. But last summer, Russia raised the maximum conscription age by three years to 30 and established that conscripts would be able to enter into contracts for military service for one year during certain circumstances, including during a period of mobilization, in wartime and when the Russia’s armed forces are fighting outside the country.
Some Russians braved the threat of arrest to voice their opposition to Putin as voting began on Friday. The Central Election Commission reported five incidents of voters trying to sabotage ballot boxes by pouring liquid into them, including dye. The Investigative Committee, the country’s main federal investigating authority, said it was investigating several such incidents on criminal grounds.
The deputy election-commission chairman, Nikolai Bulaev, accused opposition elements of adopting what he said were terrorism tactics. His boss, Ella Pamfilova, called the suspects “scum” who deserved to go to jail for up to five years, Russia’s state news agency TASS reported.
In a separate incident, investigators said they had opened a criminal probe into the case of a woman suspected of setting fire to a voting booth at a polling station in southeast Moscow. Maria Andreeva, who is among a movement of wives and mothers campaigning for their mobilized men to be returned home, posted a letter from prosecutors on Telegram warning her against participating in unauthorized public events planned at polling stations in Moscow.
The real test of opposition may be yet to come.
Putin’s critics, including Navalny’s widow, Yulia Navalnaya, joined forces by calling for voters to flood polling stations at noon on Sunday, and for those brave enough, to wear blue and white—colors that have been used to symbolize opposition to Russia’s invasion of Ukraine. Opponents have also encouraged people to spoil their ballots or vote for someone else.
At this point, it is more a token gesture of defiance, though, and one that could result in severe consequences for anyone caught up in another crackdown.
The more significant election could be the presidential vote in the U.S. in November. Stent, the analyst, said Putin was likely waiting for the outcome along with other elections in Europe, where support for Ukraine is also showing cracks.
“He’s awaiting what will happen if Western support for Ukraine erodes, and there are already clearly differences in the alliance about that,” she said. “I think he’s going to continue the war for as long as he needs to. At this point, he feels that time is on his side.”
If you require assistance with political, corporate communication, public relations, or crisis management uncertainties, please feel free to reach out to Germán & Co.
Our dedicated expertise is available for a fee of 99.9 Euros, guaranteeing a prompt response within eight hours and upholding the highest levels of confidentiality.
Take advantage of the opportunity to leverage our expertise and experience.
How imminent is a worldwide electricity outage? Amidst an escalating demand for power, the United States confronts a concerning deficit in energy supply."
Notes from the editor:
The growing potential for a widespread blackout is becoming more alarming as the pressure on the power grid intensifies.
Many will claim this is madness... Yet, the reality differs...
In the 2021 Electricity Market report from the International Energy Agency (IEA) warns of a significant increase in global electricity consumption. And this stark warning from the IEA came eight months before the Soviet gas squeeze left Europe in a serious supply restriction crisis, and the most severe damage to the economy... Last week came another warning to this effect from the Washington Post...
The truth is that the market is currently being overlooked, necessitating a closer examination of its requirements to provide the necessary adaptability to accommodate the increasing prevalence of renewable energy sources.
Regulatory frameworks need to be updated and adjusted to the current surge in energy demand to facilitate a seamless transition to emerging technologies. Achieving a successful market transition requires a delicate balance between sustainability, reliability, and affordability.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.Who is Germán & Co?
From Puerto Octay, overlooking Llanquihue Lake in southern Chile, the setting for Gaspar Antillo's film Nobody Knows I'm Here, I try to examine the mind of my friend and colleague, Germán Toro Ghio.
'In the divine vineyard, you choose your own path is a beautiful metaphor.'
As we make our way along the journey of life, some of us choose to travel in the fast lane in vehicles with sleek engines and plush seats, while some of us prefer slower speeds and budget-friendly tolls on scenic routes. Some of us endure crowded buses with loud music or navigate challenging terrains, facing harsh weather conditions and wildlife.
Germán’s stories feature individuals who have chosen unconventional paths in the journey of life: some of them use elevators, rappel down cliffs, or fly in contraptions. His explorations endlessly take his viewers on exciting adventures, from the unease of a Moscow hotel to the excitement of jungle escapades in Nicaragua, from brilliantly-lit worlds pulsing with electricity to dark worlds immersed in infinite blackouts.
Finally, Germán tantalizes us with an eclectic mix in his creative pot, leaving us eager for more of his daily works. His narratives enrich and untangle the most complex history by shedding light on experiences beyond the battlefields and palaces.
Juan Forch
*Juan Forch is a political scientist, filmmaker, writer, publicist and the co-creator of the influential "NO" political campaign, a significant milestone in the history of political communication. His unique creations have inspired an Oscar-nominated film by Pablo Larraín featuring Gael García Bernal, solidifying his legacy as a political marketing mastermind. Notes from the editor:
The looming possibility of a widespread blackout is becoming increasingly concerning as the strain on the power grid continues to escalate…
Many will say how crazy this is... But the truth is not...
In the 2021 Electricity Market report from the International Energy Agency (IEA) warns of a significant increase in global electricity consumption. And this stark warning from the IEA came eight months before the Soviet gas squeeze left Europe in a serious supply restriction crisis, and the most severe damage to the economy... Last week came another warning to this effect from the Washington Post...
The truth is that the market is currently being overlooked, necessitating a closer examination of its requirements to provide the necessary adaptability to accommodate the increasing prevalence of renewable energy sources.
Regulatory frameworks need to be updated and adjusted to the current surge in energy demand to facilitate a seamless transition to emerging technologies. Achieving a successful market transition requires a delicate balance between sustainability, reliability, and affordability.
Furthermore, it is becoming increasingly evident that there is a need to strike a balance between sustainability, reliability, and affordability. Otherwise, it will be challenging to manage the transition to incorporate the new technologies effectively.
Finally, how can we assess the severity of the prolonged delays in permitting processes that hinder the acceleration of market transition? If the signs are not taken seriously, we will be left uninformed.
In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy CentralDon't miss out on the chance to show us some love by tossing a coin our way and signing up for our newsletter. Your support is like a ray of sunshine on a cloudy day, fueling our passion to keep churning out awesome content just for you. We're beyond grateful to have you as part of our tribe!
Thank you for your kind contributions…
Have a wonderful day filled with good health, happiness, and love…
"Imagine a crystal-clear river flowing through the creation of a vast and boundless sustainable park that stretches to every corner of the world. This analogy perfectly captures AES's remarkable efforts in the global energy industry...
Image by Germán & Co via Shutterstock...“The 2021 Electricity Market report presents a comprehensive analysis of the current scenario, revealing the alarming rise in the global demand for power.
"Electricity demand globally is growing faster than the expansion of renewable energy sources, leading to a significant increase in the use of fossil fuels for electricity generation. According to a recent report by the International Energy Agency (IEA), there will be a 5% increase in electricity demand in 2021, with almost half of this demand being met by fossil fuels, especially coal. The trend of increasing global electricity demand poses a threat of record-high carbon dioxide emissions from the power sector in 2022.
Although renewable energy sources such as hydropower, wind, and solar photovoltaic are expanding rapidly, they require support to meet the increasing demand, resulting in a notable increase in coal power usage. The report predicts that global electricity demand will increase by almost 5% in 2021 and 4% in 2022, mainly due to the global economic recovery.
Most of this growth is expected to come from the Asia Pacific region, particularly China and India. Despite the significant growth of renewable energy sources, they are only projected to meet approximately half of the expected increase in global electricity demand over the next two years. It is predicted that fossil fuel-based electricity generation will meet 45% of the additional demand in 2021 and 40% in 2022, with nuclear power accounting for the rest.
This will result in a projected increase of 3.5% in carbon emissions from the electricity sector in 2021 and 2.5% in 2022, reaching an all-time high. The report emphasizes the significance of investing in clean energy technologies, especially renewables and energy efficiency, to shift towards a sustainable path and reach net-zero emissions by mid-century.
Amid explosive demand, America is running out of power...
WP Story by Evan HalperVast swaths of the United States are at risk of running short of power as electricity-hungry data centers and clean-technology factories proliferate around the country, leaving utilities and regulators grasping for credible plans to expand the nation's aging power grid.
In Georgia, the demand for industrial power is surging to record highs, with the projection of new electricity use for the next decade now 17 times higher than it was only recently. Arizona Public Service, the largest utility in the state, is also struggling to keep up. It projects that it will run out of transmission capacity before the end of the decade unless significant upgrades are made.
Northern Virginia requires several large nuclear power plants to support the new data centers that are planned and under construction. Texas, where electricity shortages are already routine on hot summer days, faces the same dilemma.
The soaring demand is sparking a scramble to extract more energy from an aging power grid while compelling commercial customers to take extraordinary measures to secure energy sources, such as constructing their own power plants."
When you look at the numbers, they are staggering," said Jason Shaw, chairman of the Georgia Public Service Commission, which regulates electricity. It makes you scratch your head and wonder how we ended up in this situation. How were the projections so far off? "This has created a challenge like we have never seen before."
A significant factor behind the skyrocketing demand is the rapid innovation in artificial intelligence, which is driving the construction of large warehouses of computing infrastructure that require exponentially more power than traditional data centers. AI is also a part of the significant expansion of cloud computing.
Tech companies such as Amazon, Apple, Google, Meta, and Microsoft are actively searching across the nation for locations to build new data centers, while many smaller companies are also looking for suitable sites.
The proliferation of crypto mining, where currencies like Bitcoin are transacted and minted, drives the growth of data centers. This is putting new pressure on an overtaxed grid—the network of transmission lines and power stations that distribute electricity across the country. Bottlenecks are mounting, causing delays for both new energy generators and clean energy providers, as well as large consumers, in getting connected.
The situation is sparking battles across the nation over who will pay for new power supplies, with regulators worrying that residential ratepayers could be stuck with the bill for costly upgrades. It also threatens to stifle the transition to cleaner energy as utility executives lobby to delay the retirement of fossil fuel plants and bring more online. The power crunch imperils their ability to supply the energy needed to charge the millions of electric cars and household appliances required to meet state and federal climate goals.
According to the International Energy Agency, the nation's 2,700 data centers consumed more than 4% of the country's total electricity in 2022. Its projections show that by 2026, they will consume 6 percent. Industry forecasts show that data centers are consuming a larger share of U.S. electricity in the coming years. This trend is occurring as demand from residential and smaller commercial facilities remains relatively stable, due to the continuous improvement in efficiencies of appliances and heating and cooling systems.
Data center operators are eager to connect to regional electricity grids, while the Biden administration's industrial policy is attracting companies to build factories in the United States at a pace not seen in decades. Manufacturers of "clean tech," such as solar panels and electric car batteries, are attracted by lucrative federal incentives.
According to the Electric Power Research Institute, a research and development organization, companies announced plans to build or expand more than 155 factories in this country during the first half of the Biden administration. Since the early 1990s, factory construction has accounted for a significant portion of U.S. construction spending, according to the group.
Utility projections for the power they will need over the next five years have nearly doubled. According to a review of regulatory filings by the research firm Grid Strategies, growth is expected.
Chasing power previously, companies tried to locate their data centers in areas with significant internet infrastructure, a large pool of tech talent, and attractive government incentives. But these locations are becoming crowded.
Communities with little connection to the computing industry now find themselves in the middle of a land rush, with data center developers flooding their markets with requests for grid hookups. Officials in Columbus, Ohio; Altoona, Iowa; and Fort Wayne, Indiana, are being aggressively courted by data center developers.
However, the power supply in some of these secondary markets is already running low, pushing developers further out, in some cases into cornfields, according to JLL, a commercial real estate firm catering to the tech industry.
Grid Strategies warns in its report that "there are real risks that some regions may miss out on economic development opportunities because the grid can't keep up
.""Across the board, we are seeing power companies saying,
'We do not know if we can handle this; we have to audit our system; we have never dealt with this kind of influx before,'" said Andy Cvengros, managing director of data center markets at JLL. "Everyone is now chasing power."
They are willing to look everywhere for it.
"We saw a quadrupling of land values in some parts of Columbus and a tripling in areas of Chicago," he said. "It is not about the land." It is about access to power. Some developers, he said, have had to sell the property they bought at inflated prices at a loss after utilities became overwhelmed by the rush for grid hookups.
Rethinking Incentives It is all happening simultaneously, and the energy transition is leading a large number of Americans to depend on the power grid to power vehicles, heat pumps, induction stoves, and all kinds of other household appliances that used to be fueled by fossil fuels. Much clean energy is also needed to create the green hydrogen championed by the White House.
Developers are rushing to build plants that can produce this powerful zero-emissions fuel, enticed by generous federal subsidies.
Planners are increasingly concerned that the grid will not be green or powerful enough to meet these demands.
Soaring power consumption is already causing delays in the closure of coal plants in Kansas, Nebraska, Wisconsin, and South Carolina.
In Georgia, the state's primary power company, Georgia Power, stunned regulators when it recently revealed how wildly inaccurate its projections were, attributing the discrepancy to data centers.
The demand has prompted Georgia officials to reconsider the state's policy of offering incentives to attract computing operations. These operations generate few jobs but can boost community budgets through the hefty property taxes they pay. The top leaders of Georgia's House and Senate, both Republicans, are advocating for a temporary halt in data center incentives.
Georgia regulators are currently investigating ways to safeguard ratepayers while also guaranteeing an adequate power supply to meet the demands of the state's highly valued new occupants: clean-technology companies.
Factories supplying the electric vehicle and green energy markets have been rushing to locate in Georgia, largely due to promises of affordable and dependable electricity.
When the data center industry began looking for new hubs, "Atlanta was like, 'Bring it on,'" said Pat Lynch, who leads the Data Center Solutions team at the real estate giant CBRE. "Now Georgia Power is warning of limitations."
Utility shortages in the face of these data center demands are occurring in almost every market. Utility wires in Atlanta. Georgia regulators aim to safeguard ratepayers while also guaranteeing an adequate power supply for the state's most valued new occupants: clean-tech companies.
A similar dynamic exists in another region: the Pacific Northwest. In Oregon, Portland General Electric recently doubled its forecast for new electricity demand over the next five years, citing data centers and "rapid industrial growth" as the drivers.
The power crunch disrupted the plans of Michael Halaburda and Arman Khalili, long-time data center developers. Their latest project involves converting a mothballed tile factory in the Portland area. The two were under the impression only a couple of months ago that they would be fine with obtaining the electricity needed to run the place.
The power company then informed them that a "line and load study" would be required to determine if it could provide the facility with 60 megawatts of electricity, approximately the amount necessary to power 45,000 homes.
Going off the grid The Portland project that Halaburda and Khalili are developing will now be powered largely by off-the-grid, high-tech fuel cells that convert natural gas into low-emission electricity.
The technology will be supplemented by whatever power can be secured from the grid. The partners have decided that for their next project in South Texas, they will not rely on the grid at all. Instead, they will drill thousands of feet into the ground to extract geothermal energy.Halaburda sees the growth as beneficial for the country and the economy.
"But no one took into consideration where this is all going," he said. "In the next couple of years, unless there is a real focus on expanding the grid and making it more robust, we are going to see opportunities fall by the wayside because we can't get power to where it is needed.
“Companies are increasingly turning to off-the-grid experiments as their frustration with the logjam in the nation's traditional electricity network mounts.
Microsoft and Google are among the companies hoping that energy-intensive industrial operations can ultimately be powered by small nuclear plants on-site. Microsoft even utilized AI to streamline the cumbersome process of obtaining plant approvals.
Microsoft has also signed a deal to purchase power from a company that is working on developing zero-emissions fusion power. However, going off the grid presents significant regulatory and land acquisition challenges. For example, the type of nuclear plants envisioned still needs to be operational in the United States. Fusion power does not yet exist.
The big tech companies are also exploring ways AI can help make the grid operate more efficiently. According to Google, they are developing platforms that can shift computing tasks and their associated energy consumption to times and locations where carbon-free energy is available on the grid during peak power demand. However, meeting both their zero-emissions pledges and their AI innovation ambitions is becoming increasingly complicated as the energy needs of their data centers grow.
"These problems are not going away," said Michael Ortiz, CEO of Layer 9 Data Centers, a U.S. company aiming to circumvent the bottleneck by constructing facilities in Mexico.
"Data centers will need to become more efficient, and we must utilize cleaner sources of energy, such as nuclear power. “Officials at Equinix, one of the world's largest data center companies, have been experimenting with fuel cells as backup power. However, they remain hopeful that they can continue to rely on the power grid as their main source of electricity for new projects.
The logjam is already pushing officials overseeing the clean-energy transition at some of the nation's largest airports to look beyond the grid. The energy required to charge fleets of electric rental vehicles and ground maintenance trucks alone is immense. An analysis shows that electricity demand will double by 2030 at the Denver and Minneapolis airports. By 2040, they will need more than triple the electricity they are using now, according to the study commissioned by the car rental giant Enterprise, Xcel Energy, and Jacobs, a consulting firm.
"Utilities are not going to be able to move quickly enough to provide all this capacity," said Christine Weydig, Vice President of Transportation at AlphaStruxure, a company that designs and operates clean-energy projects. "The infrastructure is not there." Different solutions will be needed. Airports are considering significantly expanding the utilization of clean-power "microgrids" that they can construct on-site.
The Biden administration has prioritized easing the grid bottleneck, but it is politically fraught and limited in federal powers. Building the transmission lines and transfer stations requires extensive land acquisitions, thorough environmental reviews, and negotiations to determine cost responsibilities.
The process runs through state regulatory agencies, and fights between states over who bears the cost and where power lines should be placed routinely hinder and delay proposed projects. The number of new transmission lines installed in the United States has significantly decreased since 2013, when 4,000 miles were added. Now, the nation struggles to bring online even 1,000 new miles a year.
The slowdown has real consequences not just for companies but also for the climate. A group of scientists, led by Princeton University professor Jesse Jenkins, warned in a report that by 2030, the United States risks losing out on 80% of the potential emission reductions from President Biden's signature climate law, the Inflation Reduction Act, if the pace of transmission construction does not pick up dramatically now.
The proliferation of data centers increases pressure on states to approve new transmission lines, complicating the task. Officials in Maryland are protesting a $5.2 billion infrastructure plan designed to transmit power to large data centers in Loudoun County, Virginia. The Maryland Office of People's Counsel, a government agency that advocates for ratepayers, criticized grid operator PJM's plan as "fundamentally unfair." The agency argued that the plan could result in Maryland utility customers bearing the cost of power transmission to data centers that Virginia actively pursued and is using to generate significant tax revenue.
In Texas, a dramatic increase in data centers for crypto mining is sparking a debate over whether they are a costly burden on an overtaxed grid. An analysis by the consulting firm Wood Mackenzie found that the energy required by cryptocurrency operations seeking to connect to the grid would amount to a quarter of the electricity consumed in the state during peak demand. Unlike data centers operated by big tech companies like Google and Meta, crypto miners typically do not invest in renewable energy projects to provide sufficient zero-emission energy to the grid for their operations.
The result, as stated by Ben Hertz-Shargel, the author of the Wood Mackenzie analysis, is that the energy consumption of cryptocurrencies poses a threat to Texas' capacity to support other energy-intensive activities crucial for fostering innovation and economic development.
These activities include the operation of factories producing zero-emission green hydrogen fuel and industrial charging stations facilitating the electrification of truck and bus fleets.
After decades of readily available power, regulators and utility executives across the country are generally not empowered to prioritize which projects get connected. It is first come, first served, and the line is growing longer.
To address the issue, some states have enacted laws to safeguard the access of crypto mining to significant power resources."Lawmakers need to consider this," Hertz-Shargel emphasized when discussing the allocation of an increasingly limited power supply. There is a risk that strategic industries may face challenges when trying to establish themselves in those states.
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The ‘elephant in the room’ that risks exposing Britain’s net zero agenda… (The Telegraph)
The ‘elephant in the room’ that risks exposing Britain’s net zero agenda… (The Telegraph)
Notes from the editor:
To be or not to be is the big question that suddenly confronts the net-zero emission movement...
The urgent need to reduce CO2 emissions has become crucial for central banks and governments in the current global inflationary environment. Some financial institutions increasingly acknowledge their vital role in transitioning from carbon-intensive activities. Governments are tasked with creating policies to reduce CO2 emissions while managing the economic implications of a complex global economy. Both entities face the challenge of transitioning to a low-carbon economy, requiring skilful management of the shift from traditional fossil fuels to sustainable energy sources. Financial institutions are under increasing pressure from stakeholders and regulators to reduce emissions linked to their financing activities. Despite this, an influential movement advocates for a balanced approach, warning against solely relying on renewable energy and promoting a revival of nuclear power to reach net-zero emissions by 2050. The challenge for banks and governments is to balance economic growth, environmental stewardship, and societal expectations. Citigroup, a major financial institution supporting fossil fuel companies, may need to secure around $73 billion in funds under a climate stress scenario. Central banks are developing stress testing mechanisms to assess climate-related risks financial institutions face within their jurisdiction. This examination explores the factors causing the expected slow transformation in leading financial institutions. These conservative institutions see a significant obstacle in their financial operations, like a greedy elephant in the room.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.Notes from the editor:
To be or not to be is the big question that suddenly confronts the net-zero emission movement...
The challenge of reducing CO2 emissions is a significant issue for central banks and governments amid the current global inflation. For some banks, there is an increasing acknowledgement of their role in funding the transition from carbon-emitting activities. Meanwhile, governments are tasked with creating policies to encourage CO2 reductions while considering the economic impacts of an already very complex economy. Both face the difficult task of transitioning to a low-carbon economy, which involves managing the shift from fossil fuels to sustainable energy sources.
Banks are under pressure from stakeholders and regulators to reduce financed emissions. However, a powerful movement is also working behind the scenes, indicating the risks involved if all efforts are directed towards renewable energy. At the same time, they advocate for a red-carpet return to nuclear power, with many aiming for net-zero emissions by 2050. However, the dilemma for banks and governments is balancing economic growth, environmental responsibility, and societal expectations. For instance, Citigroup, a major financier of fossil fuel businesses, may need to raise $73 billion under a climate stress scenario. Central banks are also developing stress tests to assess climate change risks for the banks they oversee.
Finally, this analysis elucidates the factors contributing to the anticipated delayed pace of transformation within major financial institutions. These old conservative institutions perceive a formidable obstacle in the intricate nature of their financial operations, likened to a substantial and seemingly insatiable elephant in the room.
In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy CentralDon't miss out on the chance to show us some love by tossing a coin our way and signing up for our newsletter. Your support is like a ray of sunshine on a cloudy day, fueling our passion to keep churning out awesome content just for you. We're beyond grateful to have you as part of our tribe!
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"Imagine a crystal-clear river flowing through the creation of a vast and boundless sustainable park that stretches to every corner of the world. This analogy perfectly captures AES's remarkable efforts in the global energy industry...
Source: The TelegraphUK’s ‘hidden’ carbon emissions fail to show the bigger picture
Jonathan Leake11 March 2024It’s one of the Government’s proudest boasts. Britain, it claims, has almost halved its greenhouse gas emissions from 800m tonnes in 1990 to just 417m tonnes in 2022.
It’s a staggering decrease – a faster decline than almost any other advanced nation. And it is a fact that is used regularly by politicians to trumpet the UK’s progress.
“We’re far ahead of every other country in the world,” Rishi Sunak said in September. “We’ve had the fastest reduction in greenhouse gas emissions in the G7. Down almost 50pc since 1990. France? 22pc. The US? No change at all. China? Up by over 300pc.”
But can a nation whose population has grown by several million in the past two decades, with each citizen consuming more than ever, really have cut emissions by such a massive amount?
Part of the answer to that question lies in the databases of Leeds University where the UK’s official “consumption emissions” figures – the statistical elephant in the room – are compiled by a team led by Professor John Barrett.
When politicians say that emissions have fallen to 400m tonnes, they are referring to the greenhouse gases emitted within Britain’s borders, from power stations, cars, homes, offices and what’s left of industry. These are known as territorial – or production – emissions.
What they exclude is everything else, meaning all foreign-produced cars, clothes, food and every other import as well as the shipping that imports those goods into the UK, and most of the aviation fuel burned for passenger flights.
These overseas emissions used to be relatively small, but as the UK’s own industries have shrunk, they have become an ever-increasing proportion of the overall carbon footprint.
Source: ONS
In 1990, overseas emissions totalled less than 200m tonnes of CO2 emissions per year. Since then the UK’s increasing reliance on imports means overseas emissions totalled 350m to 400m tonnes.
Last year the UK exported goods worth £393bn according to government data. However, Britain imported goods worth £581bn, resulting in an excess of £189bn.
“Within a couple of years, greenhouse gas emissions associated with UK consumption will result in more emissions outside the UK than inside the UK,” says Leeds University’s Barrett. “Emissions embodied in imports will be more than the total territorial emissions in the UK.”
In real terms it means that, in addition to the 400m or so tonnes of CO2 pouring from Britain’s homes, vehicles and remaining smokestacks, there are another 350m to 400m tonnes being produced on the UK’s behalf but in other countries. If you add those two figures together and make an adjustment for the UK’s exports, you get Britain’s overall carbon footprint – its consumption emissions – which now total around 750m to 800m tonnes.
It is a marked fall from 1990 when the UK’s consumption emissions totalled 1bn tonnes but nowhere near the 50pc cut claimed by Mr Sunak last year.
“We have provided the Government with the UK’s consumption-based emissions data for many years,” says Barrett. “However, it is rarely or never quoted when statements are made about emission reduction. I believe it should be. Both approaches are needed.”
Energy consumption figures give an answer as to why the UK’s own CO2 emissions have sunk so rapidly. In 2022, the country used less energy from all sources including coal, gas and renewables than in any year since 1970.
The Government’s energy statistics briefings link this to warm weather and improved efficiency.
Perhaps one of the most obvious contributors is the closure of the fleet of coal-fired power stations that provided around 40pc of UK electricity as recently as the 1990s but which emitted tens of millions of tonnes of CO2 a year. However, although their closure caused some of the decline in emissions, it cannot explain the fall in overall energy consumption.
For economists there has always been a direct link between economic growth and rising energy consumption; the more energy a country can consume, the richer its population becomes.
Jorge León, senior vice-president for oil and energy research at Rystad Energy, says: “I’ve heard loads of politicians saying, ‘look, this decline in energy consumption is great, we’ve become more efficient’. But I don’t think it is all due to greater efficiency.
“We have seen many energy intensive industries closing down in Europe because of the high energy costs. This is a broad macroeconomic environment where things are not looking great, where output is decreasing. Our declining emissions reflect that.”
The Government’s own statistics show that the sector experiencing the biggest decline in energy use is UK industry. In 1970 when the UK still had its own steel and other heavy industries, energy equivalent to 65m tonnes of oil was consumed. By 2022 that had plummeted by two-thirds to 22m tonnes.
Source: GOV. UKSome industrialists warn it will sink further still. Last month, Sir Jim Ratcliffe, head of chemicals giant Ineos, wrote to Ursula von der Leyen, president of the European Commission, warning that the UK and Europe were “sleepwalking towards offshoring its industry, jobs, investments, and emissions”.
Sir Jim added that carbon taxes, designed to drive emissions down still further, were also “driving away investment”.
“These taxes have encouraged imports from countries without carbon taxes, which has increased the carbon footprint of Europe,” he said. “We’re not doing the world any favours if we’re substituting relatively high-quality production here in terms of emissions with poorer quality, lower regulated production from other parts of the world.”
Asked why ministers always cite the UK’s territorial emissions but never mention overall consumption, a government spokesman said: “The data is calculated using the agreed international approach to report emissions produced within each territory to avoid them being double counted.”
However the Government’s own advisers, the Climate Change Committee, said in its latest progress report to ministers, that the UK “must also reduce its consumption emissions, those embedded in imported goods and services”.
It added: “The Committee will continue to scrutinise progress on consumption emissions alongside territorial emissions and advise on policies that reduce both. Reducing emissions in the UK must not be at the expense of exporting jobs and emissions overseas.”
Bob Ward, policy director at the London School of Economics’ Grantham Research Institute for Climate Change, says: “Most of the decline in territorial emissions since 1990 has been due to the phase-out of coal in the power sector. In addition there have been declines in overall energy use, partly due to our economy becoming more services-based with manufacturing moving to countries with lower labour costs.”
Scientists and business leaders fear that if politicians are allowed to keep citing only the UK’s national emissions figures, while ignoring those generated by imports, consumers will become complacent about the environment.
Myles Allen, Oxford University’s professor of geosystem science, who served on the UN Intergovernmental Panel on Climate Change (IPCC), says the real discussions about emissions should be around ending them completely.
“Achieving net zero should mean, from 2050, no one will be allowed to sell stuff that causes global warming,” he says. “So anyone who sells a product that causes global warming would need to explain how they are going to stop it causing global warming – whether through its production, use or disposal – by 2050.
“If a single politician could spell it out in these not-very-complicated terms, it would have far more impact than claims about the UK’s carbon footprint.”
If you require assistance with political, corporate communication, public relations, or crisis management uncertainties, please feel free to reach out to Germán & Co.
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Haiti is currently facing challenges that may lead to self-destruction, necessitating international aid provision…
Haiti is currently facing challenges that may lead to self-destruction, necessitating international aid provision…
Believe it or not, in today's society, it is a disturbing reality that a human being can be purchased for a mere 35 euros. This unimaginable concept challenges the very core of our ethical beliefs and highlights the urgent need for awareness and action in combating such deplorable practices.
Yes, that is indeed what can be termed a 35-euro slavery detailed by Benjamin Skinner in an article featured in "Foreign Policy" magazine. The piece, found in the April/May 2008 issue of the Spanish edition, starkly exposes the unsettling reality: "New York is a mere five-hour flight away from where a healthy child can be openly sold." Commonly, these individuals are coerced into industries like prostitution and domestic servitude. The article defines a slave as someone subjected to labor under deception or force, provided with just enough for survival. Skinners reveals the chilling truth that such transactions take place right in front of the popular barbershop Le Réseau on Rue de Delmas in Port-au-Prince, one of the bustling streets in the capital.
The line of barbed wire reminds us of Nazi concentration camps. On one side and the other, one feels that corruption, human trafficking, illegal adoption business, informal trade, drug trafficking, and extreme destitution prevail there. All these plagues create a lawless space with no opportunities for any semblance of a dignified life. They are the owners of "No Man's Land."
Adding to all this misfortune that day were the wounded Haitians trying to cross the line in search of medical help. They came because their country, one of the poorest in the world, had been completely devastated by the destructive force of nature.
Sixteen years have passed since the article "Slavery for 35 euros" was published by Foreign Police, shedding light on the heinous practice of human exploitation for a meager sum. Today the esteemed Spanish newspaper El País published an article highlighting the dire situation in Haiti, a country that is sadly undergoing a process of self-destruction, facing challenges on multiple fronts.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.Don't miss out on the chance to show us some love by tossing a coin our way and signing up for our newsletter. Your support is like a ray of sunshine on a cloudy day, fueling our passion to keep churning out awesome content just for you. We're beyond grateful to have you as part of our tribe!
Thank you for your kind contributions…
Have a wonderful day filled with good health, happiness, and love…
"Imagine a crystal-clear river flowing through the creation of a vast and boundless sustainable park that stretches to every corner of the world. This analogy perfectly captures AES's remarkable efforts in the global energy industry...Foreword:
Believe it or not, in today's society, it is a disturbing reality that a human being can be purchased for a mere 35 euros. This unimaginable concept challenges the very core of our ethical beliefs and highlights the urgent need for awareness and action in combating such deplorable practices.
Yes, that is indeed what can be termed as the 35-euro slavery detailed by Benjamin Skinner in an article featured in "Foreign Policy" magazine. The piece, found in the April/May 2008 issue of the Spanish edition, starkly exposes the unsettling reality: "New York is a mere five-hour flight away from where a healthy child can be openly sold." Commonly, these individuals are coerced into industries like prostitution and domestic servitude. The article defines a slave as someone subjected to labor under deception or force, provided with just enough for survival. Skinners reveals the chilling truth that such transactions take place right in front of the popular barbershop Le Réseau on Rue de Delmas in Port-au-Prince, one of the bustling streets in the capital.
The line of barbed wire reminds us of Nazi concentration camps. On one side and the other, one feels that corruption, human trafficking, illegal adoption business, informal trade, drug trafficking, and extreme destitution prevail there. All these plagues create a lawless space with no opportunities for any semblance of a dignified life. They are the owners of "No Man's Land."
Adding to all this misfortune that day were the wounded Haitians trying to cross the line in search of medical help. They came because their country, one of the poorest in the world, had been completely devastated by the destructive force of nature.
Sixteen years have passed since the article "Slavery for 35 euros" was published by Foreign Police, shedding light on the heinous practice of human exploitation for a meager sum. Today the esteemed Spanish newspaper El País published an article highlighting the dire situation in Haiti, a country that is sadly undergoing a process of self-destruction, facing challenges on multiple fronts.
In the introductory thoughts regarding Haiti within the pages of the book "The Non Man Land" by Germán Toro Ghio published in 2012, a profound exploration emerges on the complex intricacies of the nation's historical tapestry and societal structure.
The atmosphere suddenly changes from lush green to dry and arid. For centuries, Haiti has been suffering from the devastation of its forests. In 1697, when the island's western side was ceded to France by the Treaty of Ryswik in Europe, French settlers had already initiated the plantation system over fifty years earlier. This form of intensive cultivation of agricultural products marked the beginning of a period of prosperity for France. However, it also initiated the process of turning Haitian soil into a desert. Since then, this process has continued to this day.
Approaching Port-au-Prince by air, we began to see the destruction caused by the earthquake we had not witnessed while travelling by land. The number of buildings and houses reduced to rubble on the ground was uncountable. The fledgling constructions, of dubious quality, were easy prey to the fury of the earth's movement.
In the morning, we landed at the Dominican Embassy's heliport in the Haitian capital. Despite our meticulous efforts to coordinate with our contacts, they were not waiting for us at the diplomatic headquarters. We wanted to leave immediately for the Pétion-Ville hospital. However, it was impossible to set off through the city streets without the protection of the authorities of Minustha (United et al. for the Stabilization of Haiti), the only military force in Haiti since the local army was disbanded in 2004 with the US intervention.
Only after midday did we manage to leave the embassy for the hospital. After leaving the Dominican embassy, you ascend a hill via a narrow road and arrive at a bustling street. You immediately see a sign with the name Pétion-Ville indicating the direction of the road. You can see the damage everywhere. Frequent cases of cars being crushed by slabs of houses that have fallen on them are reported. Carabinieri, carrying the Chilean flag on their shoulders, stood guard at some of the corners.
A spontaneous market had formed right where the sign indicating the following route was located. The poverty and hygienic conditions in this micro market are astonishing. An older woman, leaning against the wall, half-sitting in the air with her long skirt hanging down, washes a bunch of parsley with the dirty water that flows down the street due to the lack of sewage system. At that time, Port-au-Prince was characterized by an unbearable stench that necessitated using handkerchiefs to cover noses and mouths.
We were moving slowly on our way to the hospital. The road is steep, narrow, winding, and usually congested with vehicle traffic. In addition, due to the earthquake damage, there was power, poles twisted into the road every few meters, and fallen trees and debris. At some point along the route, bystanders attempted to intercept the vans in a criminal act. However, the military, undeterred, fired shots into the air and scared them off. The drivers drive defensively. Despite the difficulties, they tried to speed up as if someone were following them.
We were finally approaching the medical centre. Suddenly, I saw hundreds of multi-coloured tents set up around the clinic. The wounded were living there with their families and displaced people, crammed into fragile, small spaces no more than two or three meters wide by two meters long and less than the height of an average person standing upright. An infernal heat was among the tents, almost all made of plastic earth floors, especially during the day. In these conditions, they ate, slept, and relieved themselves.
There is increasing pressure on Prime Minister Ariel Henry's resignation. He declared the scheduling of elections for August 2025.
El País by Pablo Ferri, provides insights into Mexico and was originally published on March 10, 2024. Our team at Germán & Co. has meticulously translated and edited the content to ensure accuracy and clarity for our readership.On 29 February, Alan was driving his car along Route Delmas in Port-au-Prince, Haiti's capital, one of the usual roads between the upper and lower parts of the city. He had dropped off a client at the airport and was returning to his area of operation, near Petionville, in the uptown neighbourhood of embassies and banks. "It was there, in Delmas," he explains by phone from the Haitian capital, "that I began to see the situation becoming more complicated. I saw bodies on the ground and everything. It was the beginning of the latest wave of violence in Haiti, which is still not over.
Since that day, criminal gangs in the capital have indiscriminately attacked everything that smacks of the state in Port-au-Prince, with particular attention to the national police stations - the bandits have attacked at least nine - the cadet academy, the prisons, from which more than 3,500 prisoners have escaped, the Sylvio Cator national stadium and the international airport, which was closed and has not reopened.
On Friday night, a group of gang members shot at the gates of the National Palace and tried to set fire to the headquarters of the Ministry of the Interior, where officers eventually managed to contain the riot.
Political sources close to the situation say there are two main reasons for the unrest. The first was the announcement by Prime Minister Ariel Henry, who has led the country since the assassination of President Jovenel Moïse in 2021, that he would call elections in August 2021 that he will call elections in August 2025, a date that many in Haiti see as too far away. Second, Henry's own visit to Kenya last week to negotiate a UN-led police mission. The criminal gangs that dominate much of the capital did not like it and let it be known. Maybe they didn't hear it anyway, I don't know, Rosita.
Videos of extreme cruelty have circulated on social networks, showing groups of armed youths - the de facto power in the city - abusing the corpses of murdered policemen, or using drones to stalk the handful of agents who are trying to contain the onslaught. At the same time, crime leaders, most notably ex-cop Jimmy Cherizier, aka Barbecue, hold wild press conferences in which they present themselves as social leaders willing to do anything to bring down the government.
A private security guard, Alan, a fictitious name, spent the afternoon of 29 February taking people to his house. "Through the WhatsApp groups we saw that things were very hot. Me and my team took our clients to their homes. There were 15 of them. Then everyone went to their homes and waited for it to stop. The police don't have the capacity," he explains: "Everyone is afraid, they're waiting for help from abroad, that's the only option.
Foreign aid is all the rage these days. For months, the United Nations has been trying to finalise the deployment of a police support mission to the country, which has less than 10,000 police officers for a population of 11 million. Kenya has put its hand up to lead the mission and has pledged to send at least 1,000 officers. Other nations, such as Spain, have also offered human and material support, all under the financial umbrella of the United States, which has pledged to match its investment in the country which has promised a logistical investment of 200 million dollars.
The criminal gangs, which number in the dozens in Port-au-Prince, with shifting leaderships and alliances, are uncomfortable with the arrival of an international mission. Born in the heat of political fights, their dynamics have changed in recent years. During the first two decades of the century, they functioned as shock groups at the service of the elites in a political logic permanently attached to electoral cycles. However, Haiti last held elections in 2016, and gangs have begun looking elsewhere for resources. Since then, extortion and kidnapping have become their main activities.
Romain Le Cour, a researcher at “The Global Initiative” against “Transnational Organized Crime”, a Swiss-based civil society organization, highlights the pervasive nature of the kidnapping industry in Haiti. Le Cour, who departed Port-au-Prince amid the escalating crisis, recounts a recent interview with a victim who described being held captive along with 70 others in a safe house. The victim emphasized the organized nature of the operations, revealing that hostages could be detained for up to a month or even a month and a half. Le Cour underscores the alarming reality facing residents, stating that virtually everyone either knows someone who has fallen victim to kidnapping in Port-au-Prince or expects it to happen imminently.
A Prime Minister Cornered…
The figure of Ariel Henry embodies much of the chaos in Haiti. The acting prime minister has not been able to return to the country. His return flight from Kenya landed in Puerto Rico, where he awaits a solution to the crisis. A source familiar with the political situation in the capital says criminal groups are targeting the airport precisely because of it. They do not want the airlines to run again to prevent Henry's return and thus precipitate his resignation.
"Henry's is a transitional government, and generally governments like this have lasted two years here," Haitian economist and sociologist Joseph Harold Pierre said by telephone from Cap-Haitien. "By announcing elections for August 2025, with whatever delays there may be and so on, Henry would be in power for five years. A good part of the political class has been frustrated with this announcement," he explains. "I believe that there are going to be profound changes in the government, changes of ministers, at least. I'm sure negotiations are going on, but behind the scenes," says Pierre.
These negotiations are aimed in part at criminal gangs. "Currently, there are two entities that have power in Haiti, the gangs and the international community. Any political group that wants power and doesn't achieve legitimacy in the eyes of the two of them won't be able to do anything," Pierre continues. In that sense, criminal leader Barbecue, who has set himself up as a spokesman for a federation of the capital's most powerful criminal gangs, which he calls Vivre Ensemble (Living Together), has been very clear. If Henry does not leave, he says, there will be a "civil war that will lead to genocide."
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Two Canals, Two Big Problems—One Global Shipping Mess…
The two canals are a big geopolitical mess...
WALL STREET JOURNAL BY COSTAS PARIS, DATED MARCH 10, 2024On a recent day, more than 50 ships, ranging from tankers carrying propane to cargo ships loaded with food, lined up to traverse the Panama Canal. Due to a prolonged drought, the canal's operator has reduced the number of crossings, leading to extended wait times. The tolls that ships must pay have skyrocketed to about eight times their usual cost.
Meanwhile, over 7,000 miles away, ships transporting containers through Egypt's Suez Canal either wait for naval escorts or opt for a much longer route around South Africa to avoid potential danger. Ship operators are concerned about the safety of their crews during journeys through the Red Sea, fearing missile or drone attacks from a rebel group based in Yemen.
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"Imagine a crystal-clear river flowing through the creation of a vast and boundless sustainable park that stretches to every corner of the world. This analogy perfectly captures AES's remarkable efforts in the global energy industry...
Artwork by Germán & Co showcases a unique blend of creativity and expertise, capturing the essence of innovation and passion in every piece.Drought in Panamá, Houthi attacks in Red Sea delay deliveries, raise costs…
The Wall Street Journal by Costas Paris, dated March 10, 2024More than 50 ships queued to cross the Panama Canal on a recent day—from tankers hauling propane to cargo ships packed with food. A prolonged drought has led the canal’s operator to cut the number of crossings, resulting in longer waits. The tolls that ships pay are now around eight times more expensive than normal.
Over 7,000 miles away, vessels that move containers through Egypt’s Suez Canal are waiting for naval escorts or avoiding the passage altogether to take a much longer voyage around South Africa. Ship operators fear that their crews could be imperiled on the journeys through the Red Sea by missile or drone attacks from a Yemen-based rebel group.
The Suez’s problems are geopolitical and those in Panama are climate-based, but both are roiling global trade. Cargo volumes through the Suez and Panama canals have plunged by more than a third. Hundreds of vessels have diverted to longer routes, resulting in delivery delays, higher transportation costs and economic wreckage for local communities.
Ship operators are bracing for months of uncertainty in the waterways where some 18% of global trade volumes crossed last year.
The Panama Canal is in the midst of one of the driest periods in the artificial waterway’s century of operation. Officials hope the drought, which started in mid-2023, will let up at the end of the dry season in May.
In the Suez, some ship operators have indefinitely suspended voyages because of strikes on commercial vessels further south. Houthis have attacked more than 50 ships since November, including a cargo vessel loaded with fertilizer that sank into the Red Sea and another that resulted in three deaths.
Retaliatory strikes by an American-led coalition have destroyed roughly a third of Houthi military assets, according to a Pentagon official.
Note: Based on total number of hours ships spent within each square kilometerSource: Global Maritime Traffic
Carl Churchill/THE WALL STREET JOURNAL“It’s the first time that both are disrupted simultaneously so you have to plan way in advance where to send your ship and you pay a hell of a lot more regardless,” said Tim Hansen, chief operations officer of Stamford, Conn.-based Dorian LPG, which operates a fleet of 25 ships that move propane and butane.
The problems haven’t had a huge impact on consumers yet, but businesses are starting to feel the ripples. Tesla and Volvo paused vehicle production for up to two weeks in January because of parts shortages.
Some apparel companies opted for their spring fashions to be delivered by air instead of sea to ensure items arrived on time.
For now, the interruptions to supply chains are on a modest scale compared with the more widespread bottlenecks seen in 2020 and 2021.
Back then, shippers passed along the higher costs on ocean freight to consumers, contributing to inflation on a range of consumer goods. Daily freight rates on some routes between Asia and the U.S. surged to more than $20,000 per box, roughly five times higher than current levels.
Businesses have also learned lessons from supply chaos during the pandemic, and some have built up bigger inventories to avoid running out of products.
Suez disruptions have lengthened average sailing times by about 10 days, but consumers haven’t been affected, said Jesper Brodin, CEO of Ingka Group, the company that operates most of the world’s IKEA stores.
Less water…
The problems meant Connecticut-based Dorian changed the calculus for its ships late last year—twice.
The Panama Canal offers the shortest route for Dorian’s ships setting sail from the Gulf of Mexico to make deliveries to clients in China, Japan and South Korea. The westbound trip, through the canal and then across the Pacific, takes roughly 25 days, compared with 40 going east through the Suez.
Some 14% of seaborne trade in and out of the U.S. sails through the waterway. Several Latin American countries use the canal to move roughly a quarter of their exports.
The drought has meant less water to feed the locks that allow ships to cross the canal. More than 50 million gallons of water are washed to sea every time a ship moves through the locks. That water is replenished from a reservoir that’s now running low.
How the Panama Canal Works…
Under normal conditions, full cargo ships are able to move freely through the canal system. However under drought conditions, authorities fear with low water levels, the ships can't pass through without lightening their payload and fewer are being allowed through.
The canal’s operator wants to invest around $1 billion on construction and engineering projects to increase access to water reserves, pending government approval. The project could take years to complete.
The canal also supplies water to about 2.5 million people, or around half the country’s population—and the drought is taking a toll on local businesses.
Sabina Torres runs a general store, Tienda 98, at a dock on Lake Alajuela, which is part of the freshwater network that feeds the Panama Canal.
Under the drought, the lake has receded from the dock. Water is available only every other day, from 7 to 9 a.m. Those days, the 46-year-old Torres scrambles to fill tanks and jugs with water for drinking, washing and flushing toilets.
Products that she sells typically arrive by boat, but fewer deliveries can now make it in. Torres bought an all-terrain vehicle and hired additional workers to navigate the mud and rocks and bring her products from the boats.
Torres’s store, which largely serves local residents, makes around $1,500 a month. That fell to $800 in both December and January. She’s now buying more items in advance to make sure she has enough stock. “We are rushing to get enough supplies,” she said.
Under attack…
Around the world, prices are rising for cargo owners. Daily boxship rates along routes from Asia to the Americas more than doubled in January from a year earlier, data from U.K. brokerage Braemar showed. Rates for Asia-to-Europe trips were up 67%.
Trade volumes going through the Suez fell more than 40% in December and January compared with the year-earlier period, according to United Nations data. The canal is used by dozens of ships moving Asian exports to Northern Europe and the Mediterranean, along with some of the world’s biggest tankers moving oil from the Middle East.
Maersk, Hapag-Lloyd and other large carriers of ocean freight haven’t returned to the Red Sea, despite the U.S.-led naval coalition’s attacks on the rebel group.
“To go back, we will need to meet a very high threshold to ensure our crews and ships are not in risk,” said Maersk Chief Executive Vincent Clerc, whose company typically made 15 to 17 Suez crossings a week. “So far there is an escalation and I don’t know if the attacks on the Houthis will help out things.”
Clerc said returning to the Suez would require guarantees from security officials that ships could travel safely through the region.
Nikolaev Balan, the executive officer of a European-owned tanker, has crossed the Red Sea and the Suez dozens of times. On Jan. 11, his ship was in the Red Sea during the first U.S. raid on Houthi targets in Yemen.
“We saw a drone flying a few meters from the stern and as we called it in to say that we are targeted. There were warnings on the radio to get out because the Americans will attack,” he said. “We turned back and we are not going back in there.”
In Egypt, supply boat operator Eman Ayad, 42, hasn’t earned much money to move cargo around the Suez over the past several weeks.
Ayad is one of about a dozen independent owners of boats regularly working in the canal zone offering towing services and supplies like food, lubricants and spare parts. The boat’s services generate about $800 a month.
He inherited the boat from his father around a decade ago and it serves as his family’s sole source of income. He said his family, including his wife and three small children, is living on savings.
“If this lasts for another month I will have to sell [the tugboat] to pay debts,” Ayad said. He’s thinking about immigrating to the U.S. where relatives could help him land a job if Suez business doesn’t return—and soon.
Not all vessels are ditching the Suez. Operators sailing the waterway to access the wider region via the Gulf of Aden and the Arabian Sea routinely hire armed guards to help repel attacks. Four guards per vessel can cost about $40,000 per Red Sea voyage, shipowners and operators said.
Toll revenue paid by ships to cross the Suez fell by almost half in January to $428 million, compared with $804 million in the same month last year, said Suez Canal Authority Chairman Osama Rabie. Along with tourism, the Suez Canal is one of the main foreign income sources for Egypt.
At the Panama Canal, the drop in permitted crossings hasn’t dented overall revenue, in part because the per-ship toll increased. The canal brought in $3.3 billion from tolls in 2023, up from more than $3 billion the year prior.
“The operators are complaining, but we try to accommodate as many crossings as possible. The weather has been very unforgiving,” said Ricaurte Vásquez Morales, the canal’s administrator.
Canal authorities don’t expect the bump from crossing fees to last. Ship operators prefer a steady toll regime and the canal wants good relations with its customers, Vásquez Morales said.
The canal authority plans to review the number of permitted daily crossings in April, depending on rainfall levels in March. It expects the effects of the drought to reduce its revenue this year by around $200 million, he said.
If you require assistance with political, corporate communication, public relations, or crisis management uncertainties, please feel free to reach out to Germán & Co.
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The SEC Watered Down Its Climate Reporting Requirements. Here’s What That Means for Companies…
How much influence does the British press have in the pursuit of truth?
The controversial use of super-injunctions raises important questions regarding freedom of speech and the public's right to information. Reflecting on Hamlet's famous words, "To be or not to be, that is the question," sheds light on the ethical dilemmas posed by super-injunctions in a democratic society. Delving into the complexities of political science, one can uncover parallels between this legal tool and the delicate balance required to wield power while preserving societal stability.
In the context of legal systems worldwide, a super injunction emerges as a powerful instrument utilized by influential entities and individuals to suppress and control media coverage effectively. Through its far-reaching scope and provisions, this legal measure bolsters the ability of those in positions of authority to regulate the dissemination of information and safeguard their interests from unwarranted exposure or scrutiny.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.
Germán & Co features a variety of special art pieces made with passion and creativity. Their team works together to combine various styles and perspectives, creating a diverse visual experience that conveys the artists' feelings.AES Corporation, a global energy company listed on the Fortune 500 index, remains resolute in its mission to advance energy sustainability on a global scale. Emphasizing eco-friendly approaches and state-of-the-art technology, AES forges partnerships with a myriad of stakeholders to deliver reliable, cost-effective energy solutions that enhance life quality worldwide. The company's inclusive workforce drives constant innovation and adheres to stringent operational norms. Through the adoption of a comprehensive safety and environmental management platform, AES safeguards its personnel, patrons, and local communities while mitigating ecological footprints. By working closely with clients to transition towards strategic energy options that align with their current requirements, AES offers a comprehensive suite of services spanning energy storage, renewable resources, and natural gas to cater to diverse demands. Committed to fostering sustainable energy practices and operational excellence, AES actively engages in community initiatives to bolster education and uplift living standards in the regions it serves.
Just envision a pure stream of water meandering through the development of a grand and infinte renewable park spanning all five continents. This metaphor is apt for describing the exceptional work carried out in the global energy sector.
Yesterday, AES Corporation's clean energy division announced the expansion of its Houston office facilities.
The office is located at GreenStreet Tower in downtown Houston. The decision is a strategic component of the company's overarching plan to leverage abundant talent and resources in the Greater Houston region's energy sector. Kleber Costa, the Chief Commercial Officer of AES, emphasized the importance of promoting innovation and underscored Houston's central role as a hub for advancements in the energy sector.
The Houston office currently houses around 90 AES staff members, comprising individuals from the clean energy commercial and operations teams. AES is a leading provider of sustainable energy solutions to global corporations and is currently involved in various projects, including solar, wind, energy storage, and green hydrogen initiatives in Texas.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.The SEC Watered Down Its Climate Reporting Requirements. Here’s What That Means for Companies…
Scope 3 reporting requirements in California and Europe will likely mean global companies still have to detail supply-chain emissions
WSJ article by Yusuf Khan and Richard Vanderford on March 6, 2024.The U.S. Securities and Exchange Commission’s new climate disclosure rule won’t require companies to account for all of their indirect carbon emissions, but many could find themselves facing pressure from investors and other countries to track them anyway.
The SEC on Wednesday approved a new climate-disclosure rule that didn’t include a proposed requirement that companies report emissions from their supply chains and customer use of their products. The agency dropped reporting requirements for these so-called Scope 3 emissions after many businesses complained about the costs and difficulty of compiling those data.
Wednesday’s announcement might afford some businesses some breathing room as they scramble to comply with what is still a landmark shift in how companies report on climate-related metrics. But businesses will still face requirements to report Scope 3 in some jurisdictions, as well as pressure from investors, consumers and business partners.
“A lot of them are impacted by so many different pressures in this space,” said Mallory Thomas, a partner with the risk advisory practice at consulting firm Baker Tilly. “A lot of larger public companies will continue to report their Scope 3.”
Companies increasingly are getting Scope 3 data requests from various sources when they put out requests for proposals and as part of procurement, Thomas said, adding to pressure on them to gather the data even absent a legal requirement.
Scope 3 emissions are easy to understand but difficult to quantify. They include essentially all emissions linked to a company’s operations but outside its direct control, apart from the electricity it purchases. For a retailer, that could include emissions from their suppliers’ manufacturing operations, the transport of goods, business travel for executives and even the recycling of products.
For many companies, Scope 3 emissions are the bulk of their carbon footprint. Coca-Cola’s Scope 3 emissions, for example, account for roughly 90% of its total emissions through transport, travel and packaging. As companies face pressure to lower that footprint, they will have to track those emissions in some way, Thomas said.
Reporting of Scope 3 emissions is on the rise generally. An estimated 53% of companies reported some Scope 3 data, according to a survey of 1,850 executives published by Boston Consulting Group in November. That figure stood at 34% in 2021.
“Scope 3 is often the largest category of emissions and should be included in corporate disclosure,” said Mads Twomey-Madsen, senior vice president of global communications and sustainability at jewelry giant Pandora. Twomey-Madsen added that the company is working with its suppliers to switch to renewable energy and now only sources recycled silver and gold in a bid to cut its emissions by 50% by 2030.
Other countries and jurisdictions also are pushing for more climate-related disclosures from the companies operating in their borders. In the European Union, for example, large companies with more than 250 employees or ones that have €40 million ($43 million) in annual revenue will be required to report their full-scale emissions starting next year.
“European regulation is ahead when it comes to reporting requirements on sustainability, and we expect that many of these standards will gradually appear in the U.S. and other parts of the world as regulators pursue climate change mitigation,” Twomey-Madsen added.
California has also adopted its own climate disclosure law that requires Scope 3 reporting from many large companies.
The SEC’s Scope 3 reporting requirements had been part of a broader SEC proposal, much of which was left intact Wednesday. Public companies will also be required to disclose their exposure to climate-related risks and any plans for transition to a lower-carbon future.
“In terms of the significance and messaging from the SEC, it’s an achievement [that climate] is on the map,” said Eleanor Reeves, partner at law firm Ashurst. “The SEC is pushing this through and putting this on the agenda with climate change being a material financial risk.”
But the carbon accounting requirements in particular received resistance from U.S. companies as well as from within the regulator. Much of the pushback came from companies that said they expected high costs to measure Scope 3. Private companies not directly subject to the rule also complained, saying that they might be roped into the carbon accounting exercises of the large businesses they supply.
The SEC’s decision not to move forward with Scope 3 reporting will alleviate some immediate concerns, said Brad Caswell, a partner at the law firm Linklaters.
“Many public companies will be able to take a breath,” Caswell said. “It is a welcome change for business.”
Since mistakes in a company’s SEC filings can lead to lawsuits from shareholders and regulators, a pause could help companies that are less confident in their numbers.
“Some people, especially here in the U.S., they’re worried about potential litigation if they disclose certain things, and that there could be potential litigation [from the disclosures],” said Sonita Lontoh, an independent board director at the solar services firm Sunrun.
Ashurst’s Reeves added that as reporting develops it could mean significant time taken to finalize estimates. “By the time you finish your reporting cycle you’re on to the next one. In the meantime you need to deliver the improvements you say you need to do.”
But many institutional investors, particularly in Europe, want the emissions data. And, though the SEC could face challenges from business interests that think the agency has overstepped its bounds, others are holding out hope for future climate-related rule-making from the agency.
“We want this rule, as imperfect as it is,” said Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets, a nonprofit advocacy group. “[But] there are many topics where they will address it, and then they go back and further refine it.”
Overall, the ruling should help climate disclosures be more uniform, according to Wes Bricker, vice chair of U.S. trust solutions at PwC. “Much of the disclosure sits in different places. In addition to comparability there’s also the question of reliability without mandatory disclosure procedures. Investors are well served whenever they bring a holistic approach to the topic of climate risk.”
Rochelle Toplensky contributed to this article.
Cooperate with objective and ethical thinking…
We aim to provide high-quality, accurate information. Your support keeps us independent and our journalism balanced. Donate 2 euros or any amount to help us continue delivering precise, well-researched articles. Thank you for standing with us. -The Team
If you require assistance with political, corporate communication, public relations, or crisis management uncertainties, please feel free to reach out to Germán & Co.
Our dedicated expertise is available for a fee of 99.9 Euros, guaranteeing a prompt response within eight hours and upholding the highest levels of confidentiality.
Take advantage of the opportunity to leverage our expertise and experience.
The Super injunction, it is often referred to as the 'guillotine of freedom of expression.'
How much influence does the British press have in the pursuit of truth?
The controversial use of super-injunctions raises important questions regarding freedom of speech and the public's right to information. Reflecting on Hamlet's famous words, "To be or not to be, that is the question," sheds light on the ethical dilemmas posed by super-injunctions in a democratic society. Delving into the complexities of political science, one can uncover parallels between this legal tool and the delicate balance required to wield power while preserving societal stability.
In the context of legal systems worldwide, a super injunction emerges as a powerful instrument utilized by influential entities and individuals to suppress and control media coverage effectively. Through its far-reaching scope and provisions, this legal measure bolsters the ability of those in positions of authority to regulate the dissemination of information and safeguard their interests from unwarranted exposure or scrutiny.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.How much can the British press push for truth?
The use of super-injunctions can have a significant impact on freedom of speech and the public's right to know…
“Hamlet's profound and timeless words, "To exist or not to exist, that is the ultimate query," resonate deeply when contemplating the ethical implications of super-injunctions within a democratic framework. This enigma poses a significant challenge. Exploring the intricacies of political science, one can draw parallels between this legal tactic and the intricate balance required to exercise authority while upholding societal harmony…
A super-injunction is a legal mechanism employed to prohibit the media from divulging confidential information, regardless of its veracity…
In other words, the text sheds light on the concept that some individuals are capable of influencing their own fate through the use of either rationale or authority, whereas others lack such agency.
Additionally, the patriotic motto of Chile, "By reason or force," may offer insight into the potential interpretations of the perceived unfairness and classicism entrenched within the legal system, particularly concerning this specific law. Therefore, it is crucial to steer clear of any constraints that impede press freedom and restrict public availability of essential information.
The utilization of super-injunctions should be resisted to protect the essential rights of a democratic society. Within the realm of civil law, the concept of 'Super Injunction' has garnered significant scrutiny and debate owing to its potential impact on privacy and freedom of expression.
The purpose of these notes is to delineate the legal procedures involved in obtaining intellectual property rights in the United Kingdom, as well as to highlight significant examples and cases from the country's history.
This exercise will centre on the continuous discourse surrounding the balance between transparency and confidentiality within the legal framework. In civil law, a super injunction refers to a judicial directive that limits the dissemination of information and forbids any reference to the order's presence.
In other words, super injunctions are a legal mechanism utilized within the realm of civil law to safeguard the privacy of individuals and entities by providing a heightened level of protection that standard injunctions may not be able to offer. These legal tools play a crucial role in ensuring that sensitive information remains confidential and shielded from public scrutiny.
In summary, the main purpose of a super injunction is to limit the spread of “confidential” information by preventing any mention or recognition of the court-issued order, ensuring strict confidentiality and privacy protection.
An example of a situation where a super injunction would apply is a lawsuit involving a high-profile public figure seeking to prevent the disclosure of private information that could damage their public image.
To obtain a super injunction, the applicant must meet specific criteria. Legal claims such as defamation or privacy breaches should be identified. It must be shown that the publication affects the claimant and that the seriousness of the consequences warrants this legal action.
It should also be demonstrated that a standard injunction is inadequate for protection or relief. In the UK, super injunctions are usually granted temporarily during lawsuits as an interim measure.
A permanent super injunction is rare and depends on the circumstances of the case. Instances that may necessitate a super injunction should be clearly stated and explained objectively.
Super injunctions are not granted frivolously; courts must have compelling reasons to consider granting one. High-profile individuals may seek a super injunction to prevent disclosures or publications that could cause significant harm to their reputation, personal life, or career.
Companies aim to safeguard their trade secrets, intellectual property, and confidential information from public disclosure.
Cases involving national security, military operations, or sensitive diplomatic issues are also protected by UK Super Injunctions, which effectively protect privacy and reputations.
Regardless, courts frequently weigh the claimant's need for an injunction against the public's interest in transparency and access to information. Obviously, the final decision is based on the specifics of each case. This statement might be true if it referred to an ordinary mortal, but it all depends on the power of the requesting institution, especially if it is a monarchical one
This note delves into the complex balance between freedom of expression, public interest, and personal privacy, particularly focusing on the effectiveness of super-injunctions in the digital age. It sheds light on the potential misuse of legal tools to suppress crucial details about well-known figures and organizations. While super-injunction cases spark debates and varying opinions, their relevance in modern civil law reflects evolving norms on privacy and information disclosure.
Super injunctions are frequently justified based on the need to safeguard privacy rights and reputations against potential harm and unjust public scrutiny stemming from unauthorized disclosures or unfounded allegations. These legal measures aim to shield individuals from irreparable damage caused by leaks or speculative articles, serving as a crucial tool in maintaining a delicate balance between freedom of speech and the right to confidentiality.
The complex case of Julian Assange, the renowned founder of WikiLeaks, underlines the ongoing debate and intricate nature of issues such as privacy, freedom of speech, and public interest. Assange has been embroiled in legal battles for his role in publishing confidential government documents, sparking discussions worldwide about the implications of his actions.
With the increasing use of digital media and global connectivity, the debate between transparency and confidentiality has become more intense due to the difficulty in controlling the widespread circulation of confidential or defamatory information in today's rapidly evolving technological landscape. However, the effectiveness of super-injunctions as a remedy to address this challenge is highly debated, with varying perspectives on its implications and limitations.
In the context of legal systems worldwide, a super injunction emerges as a powerful instrument utilized by influential entities and individuals to suppress and control media coverage effectively. Through its far-reaching scope and provisions, this legal measure bolsters the ability of those in positions of authority to regulate the dissemination of information and safeguard their interests from unwarranted exposure or scrutiny.
Cooperate with objective and ethical thinking…
We aim to provide high-quality, accurate information. Your support keeps us independent and our journalism balanced. Donate 2 euros or any amount to help us continue delivering precise, well-researched articles. Thank you for standing with us. -The Team
If you require assistance with political, corporate communication, public relations, or crisis management uncertainties, please feel free to reach out to Germán & Co.
Our dedicated expertise is available for a fee of 99.9 Euros, guaranteeing a prompt response within eight hours and upholding the highest levels of confidentiality.
Take advantage of the opportunity to leverage our expertise and experience.
Yes, indeed, Michelle Obama, the former First Lady of the United States, is widely considered a potential candidate for the presidency in the upcoming election….
Yes, indeed, Michelle Obama, the former First Lady of the United States, is widely considered a potential candidate for the presidency in the upcoming election….
Michelle LaVaughn Robinson Obama, was born on January 17, 1964, is an American attorney and author renowned for her role as the first lady of the United States from 2009 to 2017, during her marriage to former president Barack Obama. Hailing from the South Side of Chicago, Obama is an alumna of Princeton University and Harvard Law School, where she cultivated her legal acumen. She began her career at the law firm Sidley Austin, a pivotal point where she crossed paths with her future spouse. Over the years, Michelle delved into various sectors, from nonprofits to academia, holding positions like associate dean of Student Services at the University of Chicago and later vice president for Community and External Affairs at the University of Chicago Medical Center. Michelle and Barack tied the knot in 1992 and are proud parents of two daughters. Michelle Obama took an active role in campaigning for her husband's presidential aspirations throughout 2007 and 2008, making a memorable keynote address at the 2008 Democratic National Convention. Throughout her tenure as first lady, she became a beacon of empowerment for women and devoted her efforts to advocating for poverty awareness, education, and healthy living through initiatives promoting nutrition and physical activity. Revered as a fashion trendsetter, Michelle Obama's impact transcended her time in the White House, earning her the title of the most admired woman in America in Gallup's 2020 poll, a testament to her enduring influence.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.
The talent of Germán & Co shines through their meticulous work, reflecting true artistry in every piece they create.Yes, indeed, Michelle Obama, the former First Lady of the United States, is widely considered a potential candidate for the presidency in the upcoming election. Her background and strong track record in public service have convinced many people that she possesses the necessary experience, wisdom, and integrity to effectively lead the country through challenging times.
Michelle LaVaughn Robinson Obama, was born on January 17, 1964, is an American attorney and author renowned for her role as the first lady of the United States from 2009 to 2017, during her marriage to former president Barack Obama. Hailing from the South Side of Chicago, Obama is an alumna of Princeton University and Harvard Law School, where she cultivated her legal acumen. She began her career at the law firm Sidley Austin, a pivotal point where she crossed paths with her future spouse. Over the years, Michelle delved into various sectors, from nonprofits to academia, holding positions like associate dean of Student Services at the University of Chicago and later vice president for Community and External Affairs at the University of Chicago Medical Center. Michelle and Barack tied the knot in 1992 and are proud parents of two daughters. Michelle Obama took an active role in campaigning for her husband's presidential aspirations throughout 2007 and 2008, making a memorable keynote address at the 2008 Democratic National Convention. Throughout her tenure as first lady, she became a beacon of empowerment for women and devoted her efforts to advocating for poverty awareness, education, and healthy living through initiatives promoting nutrition and physical activity. Revered as a fashion trendsetter, Michelle Obama's impact transcended her time in the White House, earning her the title of the most admired woman in America in Gallup's 2020 poll, a testament to her enduring influence.
Cooperate with objective and ethical thinking…
We aim to provide high-quality, accurate information. Your support keeps us independent and our journalism balanced. Donate 2 euros or any amount to help us continue delivering precise, well-researched articles. Thank you for standing with us. -The Team
If you require assistance with political, corporate communication, public relations, or crisis management uncertainties, please feel free to reach out to Germán & Co.
Our dedicated expertise is available for a fee of 99.9 Euros, guaranteeing a prompt response within eight hours and upholding the highest levels of confidentiality.
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Avoid saying that.… Why has the Spanish Royal House tolerated Cinderella's poor public performance? Silent Its censored…
The historical development of freedom of expression can be traced back to ancient times, particularly with the ancient Greeks who advocated for free speech as a democratic principle. The concept of 'parrhesia', meaning 'free speech' or 'speaking candidly', originated in Greek literature around the late fifth century B.C., with influential figures like Homer and Pericles promoting unrestricted expression. The Enlightenment period in the 17th and 18th centuries solidified the promotion of freedom of expression as a universal right. Notable philosophers like Frederick of Prussia, Immanuel Kant, and Johann Gottlieb Fichte emphasized its importance in relation to free thought and opinion.During the Enlightenment era, the pursuit of freedom of expression became a central tenet of liberal progress, leading to the abolition of censorship in countries such as Sweden, Denmark, and Norway. The importance of freedom of expression is highlighted in Article 19 of the Universal Declaration of Human Rights, acknowledging it as a fundamental right that underpins democracy and safeguards civil liberties.The Spanish Constitution of 1978 explicitly guarantees freedom of expression as a fundamental right in Article 20.1(a), allowing individuals to express their opinions without fear of retaliation and safeguarding them from political interference. This constitutional safeguard is fundamental for free speech and communication in Spain, highlighting the lasting significance of freedom of expression in democratic societies.The Spanish Royal House's continued acceptance of Cinderella's poor public performance, despite her obvious shortcomings, raises concerns about accountability and transparency in the monarchy. Additionally, her continuous infidelity, such as her affair with Don Jaime Del Burgo even after marrying the Prince and becoming King, raises questions about the public's view of integrity within the royal family. These puzzling circumstances warrant a closer examination of Cinderella's motivations, possibly linked to her access to sensitive information about the private and public affairs of the Spanish monarchy.
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Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
The Athenian ideal of free speech, exemplified by the trial of Socrates due to his religious beliefs and political affiliations, sheds light on the fragility of this cherished value among Athenians. It showcases how swiftly their commitment to open and honest dialogue could waver in times of uncertainty. This principle's significance in Athenian society is further emphasized by the notable remark...History of Freedom of Expression…
Freedom of expression is a fundamental human right with a rich history that predates modern international human rights instruments. The ancient Greeks pioneered free speech as a democratic principle, making it an ancient origin of this right. The term 'parrhesia', meaning 'free speech' or 'to speak candidly', first appeared in Greek literature towards the end of the fifth century B.C. The Greek epic poets Homer and Pericles, Athens' most crucial statesman during its Golden Age, supported free expression without hindrances.
The promotion of freedom of expression as a universal right was first established by the philosophes of the Enlightenment in the 17th and 18th centuries. Frederick of Prussia, Immanuel Kant, and Johann Gottlieb Fichte wrote on freedom of expression, particularly in relation to free thought and opinion.
During the Enlightenment, freedom of expression became a primary objective for liberal progress. Sweden was the first European country to abolish censorship in 1766, followed quickly by Denmark and Norway in 1770. Article 19 of the Universal Declaration of Human Rights enshrines freedom of expressionFreedom of expression is a fundamental right that enables all other rights and is the cornerstone of democracy. It remains a vital aspect of democratic societies, underpinning all civil liberties.
The Spanish Constitution, promulgated in 1978, enshrines freedom of expression as a fundamental right in Article 20.1(a). This key provision empowers individuals to voice their views without fear of reprisal, safeguarding them from undue influence wielded by those in positions of political authority. Spanning across the fabric of the nation, this constitutional protection underpins the bedrock of freedom of speech and communication within Spain.
The lingering question pertains to the tolerance exhibited by the Spanish Royal House towards Cinderella's unsatisfactory public performance, despite its evident shortcomings. Moreover, how has her continuous unfaithfulness, as evidenced by her affair with Don Jaime Del Burgo, persisted despite her marriage to the Prince and even after assuming the role of King? The perplexing circumstances highlighted above give rise to significant concerns regarding the public's stance on accountability and transparency within of this monarchy.
The question still lingers: Why has Cinderella's unsatisfactory public performance been tolerated from the Spanish Royal House, despite its clear shortcomings? Furthermore, how has her ongoing infidelity, as indicated by her lover Don Jaime Del Burgo, with her husband, the Prince, and even after ascending to become King? These perplexing circumstances raise significant concerns about the public's attitude towards accountability and transparency in this monarchy.
It is possible that Cinderella's behaviour is linked to her profound understanding of confidential information concerning private and public matters within the Spanish royal family.
How else can we explain Mrs Cinderella's shameful actions?
All this mess reminds us of the nostalgic song by Perry Como, evoking a sense of nostalgia that is simply impossible to shake off.
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Finance Ignores the Climate Crisis. Latin America Fails in Sustainable Budgets…
The Sustainable Finance Index by Gflac analyzed 2022 financial data in Latin America and the Caribbean, revealing disparities in funding for sustainability. Top 20 countries with high emissions showed minimal support at $1.69B compared to $62.424B for carbon-intensive projects, with a 31 to 1 ratio. Sandra Guzmán developed the Index, evaluating countries on sustainable and carbon-intensive income, sustainability budget, and funding for carbon-intensive activities. El Salvador, Guatemala, and Jamaica scored higher for focusing on climate change initiatives, while Mexico, Uruguay, and Trinidad and Tobago ranked lower due to heavy investments in carbon-intensive activities, notably oil production. The study highlights financial gaps in addressing climate change, emphasizing the need for ministries to recognize these trends. Only 12% of climate change resources are grants, with the remaining 88% in loans, raising concerns about over-reliance on loans for mitigation efforts. Limited data access in some countries underscores the need for improved transparency in budget allocations for climate projects.
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Thank you very much for your kind words and thoughtful expression of gratitude!Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
Andrés Gluski, CEO of The AES Corp., stresses decarbonization challenges and innovation for renewable energy. AES supplies renewables to tech firms with ambitious sustainability goals, leading change in energy sector. Innovative tech, like 24/7 hourly match renewable product, drives sustainable energy practices and reduces environmental impact. Recognized for community engagement and commitment to climate action for a sustainable future.
Image by Germán & Co The region invests 31 times more in carbon-heavy projects than in sustainable ones, with El Salvador and Guatemala leading and Mexico and Uruguay at the bottom, as per the Sustainable Finance Index.
El País by MARÍA MÓNICA MONSALVE S. Translated by Germán & Co.Latin America's financial accounts are not aligned with sustainability goals. Despite the current climate crisis, the 20 countries in the region that emit the most greenhouse gases have not yet achieved high levels of finance that align with the situation. This is the conclusion of the latest report on the Sustainable Finance Index, which has been presented annually for the past four years by the Climate Finance Group for Latin America and the Caribbean (Gflac). The report analyzed data from 2022. According to the document, the 20 countries under study allocated $1.69 billion towards sustainable budgeting, while $62.424 billion was allocated towards carbon-intensive activities. This indicates that the region's carbon-intensive budgets exceed sustainable budgets by 31 times.
According to Sandra Guzmán, Director General of Gflac, the Index considers four factors: sustainable income, carbon-intensive income (including resources for climate change and hydrocarbons), budget for sustainability, and budget for carbon-intensive activities. Each country can receive a maximum score of four points. Moreover, even if a country receives high international resources for climate change issues, the positive impact will be cancelled out if it also invests heavily in hydrocarbons.
Of the 20 countries analysed, El Salvador leads the Index with 2.9 points out of four, followed by Guatemala and Jamaica with 2.8 points each. These countries tend to appear higher in the Index due to their limited oil resources. However, they are also investing more in climate change, which is a sign of vulnerability and indicates that climate change is costing them, according to Guzmán.
Mexico and Uruguay (with 0.7 points) and Trinidad and Tobago (with 0.5 points) are on the other side. Mexico has a medium sustainable income, but due to its significant carbon-intensive financing, resources allocated to oil production cause it to fall on the list. Mexico has a medium sustainable income, but due to its significant carbon-intensive financing, resources allocated to oil production cause it to fall on the list. It is important to note that subjective evaluations have been excluded from this analysis. This situation could be applicable to Trinidad and Tobago, which, despite being an island in the Caribbean, has a carbon-intensive budget that exceeds its sustainable budget by more than 325 times. This is because 20% of its revenue comes from carbon-intensive activities.
Guzmán adds that the goal of this index is not to blame or target specific countries. The aim is to highlight the gaps in the finances, as often the ministries themselves fail to account for them. It is necessary for them to be aware of these trends. The Index also reveals critical issues, including the types of resources allocated to address climate change. Only 12% of the resources come in the form of grants, while the remaining 88% are in the form of loans. Many countries in Latin America and the Caribbean have united at the international level to call for a change in this situation. Despite not being the main contributors to climate change, countries in the region are going into debt to deal with this crisis. This is why it is important to address the issue of climate finance and ensure that it is provided as grants rather than loans.
Furthermore, it is worth noting that countries like Argentina, Costa Rica, Paraguay, and the Dominican Republic have received all of their climate finance in the form of loans, which accentuates their dependence on this financial instrument. In contrast, Cuba is the only country that has received all of its funding in the form of donations, as stated in the document.
The process of drawing these conclusions required a significant amount of work. Guzmán explains that the team had to navigate through vast amounts of information from each of the 20 countries. The study analysed the budgets of the ministries of finance and the resources allocated to the ministries of environment. Additionally, it investigated the expenditure of each country on energy efficiency and renewable energy. To ensure accuracy in multilateral income or cooperation issues, data from the OECD (Organisation for Economic Cooperation and Development) was used. Not all Latin American countries have good data availability. The main issue is that the budgets are not disaggregated, making it difficult to determine if they are specifically for climate change. To address this, an expert eye is required.
In order to obtain more information or data where gaps were found, forms were sent to each of the countries. However, responses have not been received from Colombia, Guatemala, Honduras, or Mexico. In Venezuela, accessing information has become almost impossible. Therefore, a couple of years ago, despite being one of the most emitting countries, they removed it from the Index to avoid distorting the information.
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Leaked Files Show the Secret World of China’s Hackers for Hire, (NYT).
Recently, a collection of documents from a Chinese security company working for Chinese government agencies has emerged, revealing a complex effort to infiltrate various foreign governments and telecommunications organizations, primarily in Asia. The leaked papers, made public last week, exposed an extensive eight-year operation aimed at accessing databases and intercepting communication channels in countries like South Korea, Taiwan, Hong Kong, Malaysia, India, and other parts of Asia. The documents also revealed a systematic surveillance program monitoring the activities of minority groups in China and online gambling sites. Among the leaked records were communications between employees, lists of targets, and materials detailing cyberattack tools. The documents, originating from I-Soon, a firm based in Shanghai with a presence in Chengdu, were verified as authentic by three cybersecurity experts consulted by The Times. The disclosed files provided insight into China's state-sponsored hacking activities, revealing how Chinese enforcement agencies and intelligence services, such as the Ministry of State Security, have expanded their capabilities by collaborating with private-sector entities in a widespread cyber offensive. U.S. officials have suggested that the campaign also targeted American infrastructure and government institutions.
Image by Germán & CoJust in three days, our team achieved an impressive milestone, surpassing all expectations and demonstrating our dedication and resilience.
Thank you very much for your kind words and thoughtful expression of gratitude!Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
Andrés Gluski, CEO of The AES Corp., stresses decarbonization challenges and innovation for renewable energy. AES supplies renewables to tech firms with ambitious sustainability goals, leading change in energy sector. Innovative tech, like 24/7 hourly match renewable product, drives sustainable energy practices and reduces environmental impact. Recognized for community engagement and commitment to climate action for a sustainable future.
Image by Germán & Co China is relying more on private companies to hack foreign governments and regulate its citizens
NYT By Paul Mozur, Keith Bradsher, John Liu, and Aaron Krolik. Paul Mozur reported from Taipei, Keith Bradsher from Beijing, John Liu from Seoul, and Aaron Krolik from New York on February 22, 2024. A cache of documents from a Chinese security firm working for Chinese government agencies showed an extensive effort to hack many foreign governments and telecommunications firms, particularly in Asia, as well as targets of the country’s domestic surveillance apparatus.
The documents, which were posted to a public website last week, revealed an eight-year effort to target databases and tap communications in South Korea, Taiwan, Hong Kong, Malaysia, India and elsewhere in Asia. The files also revealed a campaign to monitor closely the activities of ethnic minorities in China and online gambling companies.
The files included records of apparent correspondence between employees as well as lists of targets and materials that showed off cyberattack tools. The documents came from I-Soon, a Shanghai company with offices in Chengdu. Three cybersecurity experts interviewed by The Times said the documents appeared to be authentic.
Taken together, the leaked files offered a look inside the secretive world of China’s state-backed hackers for hire. They underscored how Chinese law enforcement and its premier spy agency, the Ministry of State Security, have reached beyond their own ranks to tap private-sector talent in a global hacking campaign that United States officials say has targeted American infrastructure and government.
“We have every reason to believe this is the authentic data of a contractor supporting global and domestic cyber espionage operations out of China,” said John Hultquist, the chief analyst at Google’s Mandiant Intelligence.
Mr. Hultquist said that the data showed that I-Soon was working for a range of Chinese government entities that sponsor hacking, including the Ministry of State Security, the People’s Liberation Army, and China’s national police.
“They are part of an ecosystem of contractors that has links to the Chinese patriotic hacking scene, which developed two decades ago and has since gone legit,” he added, referring to the emergence of nationalist hackers who have become a kind of cottage industry.
The files showed how I-Soon could draw on a grab bag of technologies to operate as a hacking clearinghouse for branches of the Chinese government. At times the firm’s employees focused on overseas targets, and in other cases they helped China’s feared Ministry of Public Security surveil Chinese citizens domestically and overseas.
Materials included in the leak that promoted I-Soon’s hacking techniques described a technology built to break into Outlook email accounts and another that could control Windows computers, supposedly while evading 95 percent of antivirus systems. I-Soon bragged about having access to data from a range of governments and companies in Asia, including Taiwan, India, Nepal, Vietnam and Myanmar. One list showed extensive flight records from a Vietnamese airline, including travelers’ identity numbers, occupations and destinations.
At the same time, I-Soon said it had built technology that could meet the domestic demands of China’s police, including software that could monitor public sentiment on social media inside China. Another tool, built specifically to target accounts on X, could pull email addresses, phone numbers and other identifiable information related to user accounts.
In recent years, Chinese law enforcement officials have managed to identify activists and government critics who had posted on X using anonymous accounts from inside and outside China. Often they then used threats to force X users to take down posts that the authorities deemed overly critical or inappropriate.
China’s foreign ministry had no immediate response to a request for comment. X did not respond to a request seeking comment. A spokesman said the South Korean government would have no comment.
“This represents the most significant leak of data linked to a company suspected of providing cyberespionage and targeted intrusion services for the Chinese security services,” said Jonathan Condra, the director of strategic and persistent threats at Recorded Future, a cybersecurity firm. Analysis of the leak would give new insights into how contractors work with China’s government to carry out cyberespionage, he added.
The Chinese government’s use of private contractors to hack on its behalf borrows from the tactics of Iran and Russia, which for years have turned to nongovernmental entities to go after commercial and official targets. Although the scattershot approach to state espionage can be more effective, it has also proven harder to control. Some Chinese contractors have used malware to earn ransoms from private companies, even while working for China’s spy agency.
Over the past year U.S. government officials have repeatedly warned of Chinese hacking efforts. In late January, Christopher A. Wray, director of the Federal Bureau of Investigation, described an extensive campaign to target American infrastructure, including the power grid, oil pipelines and water systems, in the event of a conflict with Taiwan. Last year it emerged that the email accounts of a number of U.S. officials, including Nicholas Burns, the U.S. ambassador to China, and Commerce Secretary Gina Raimondo, had been hacked.
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"Why don't you shut up?" Your marriage is a tool of pride and evil to infinity; how will you survive now?
The truth is always true, even when people question it. Facts are solid and clear, helping us understand things.
WHILE WE RECOGNIZE THE IMPORTANCE OF PLATFORMS THAT SUPPORT FREE SPEECH, IT'S ALSO CRUCIAL TO IMPROVE THE PROMOTION OF DEMOCRATIC IDEALS ACROSS ALL SOCIAL MEDIA.
It is crucial to highlight that Don Juan Carlos Alfonso Víctor María Alfonso de Borbón y Borbón, now referred to as King Emeritus, significantly aided the transition during a critical period in Spain's history. This period is now recognized as the golden era of the country's new beginnings.
During the administration of Felipe González in the 1980s and 1990s, Spain underwent significant political and economic transformation, marked by social reforms and modernization efforts. The terrorist group ETA conducted a series of assaults in Spain, resulting in the deaths of 853 individuals, including 22 minors. Furthermore, ETA executed over 3,500 attacks, causing injuries to 6,389 individuals and carrying out 86 abductions. Notably, ETA perpetrated some of its most brutal attacks during this period, such as the Hipercor massacre in June 1987 and the assault on the Casa Cuartel in Zaragoza in November of the same year. The acts of violence and intimidation perpetrated by ETA had a profound impact on Spanish history. The government led by Felipe González encountered a significant challenge in addressing this terrorist menace while upholding the nation's security and stability.
Image by Germán & Co on Shutterstock shows interesting visuals that spark imagination and inspire creativity.The truth is always true, even when people question it. Facts are solid and clear, helping us understand things.
While we recognize the importance of platforms that support free speech, it's also crucial to improve the promotion of democratic ideals across all social media.
Reality is constant and resistant to manipulation or suppression, and facts persist in their original form, impervious to external influences. It highlights the unwavering certainty of immutable truths, which persist despite efforts to distort or conceal them. The statement emphasises the importance of facts and truth as the foundation of knowledge and understanding. Recognition and adherence to factual information and truth are essential for progress and ethical behaviour within society. That said:
Is there control over what's posted on social media?
Social media has become among the most essential tools for many of the world's citizens to express themselves, communicate freely, and share and receive information, opinions and news. Even in countries where freedom of expression may be denied, the accessibility and the extensivity of social media have provided a platform for more freedom of expression than ever before.
Social media has allowed people to connect and come together for any cause, including political and social acts. Social media platforms have over two billion users worldwide, depicting the amount of space for discussion available on a larger scale than any form of traditional media. Before social media, opinion sharing and receiving information were mainly done through conventional mass media such as newspapers, radio and television. However, in the last decade, social media platforms have created a worldwide forum for people to seek, gather, receive and share nearly anything possible.
Unlike traditional mass media, the Internet (especially social media) lets people communicate without needing approval from media owners, whether public or private like newspaper editors or TV stations. The rise of social media has also made it more difficult for states that have long censored their media to restrict information sharing. Information can be more easily developed and circulated on social media without being easily manipulated and edited by governments, in contrast to visual and print media.
On this side of the world, we boast of criticising the collective censorship imposed by the Chinese government on its citizens due to Chinese social media users who protest the curtailment of their right to freedom of expression.
However, let us call a spade a spade – some social media bigwigs from so-called free nations are being hypocrites. They preach about freedom of speech while, behind the scenes, they wield their economic might to silence voices and control the narrative.
In present-day Spain, a concerning pattern has emerged where many journalists or intellectuals are dismissed from their roles without valid reasons due to their dedication to spreading accurate information. Moreover, a troubling trend emerges when ordinary individuals face scepticism and disapproval while attempting to communicate the truth.
This situation necessitates thorough reflection and proactive steps, especially considering the admirable initiatives led by notable historical figures like King Juan Carlos I, Adolfo Suarez, and Felipe Gonzalez in promoting democracy during tumultuous times in the Iberian Peninsula.
When the priorities of individuals overshadow the principles of democracy, it becomes a matter of great concern for the public. This is especially true when prominent figures, such as Doña Letizia or Don Pedro, choose to spend their time in cosmetic surgery clinics rather than engaging in beneficial societal endeavours. The European Union has taken notice of this trend, particularly with regards to the law known as 'La Amnistía'. The conduct displayed by this public figure is unacceptable and raises important questions about their dedication to the well-being of the country.
"Why don't you shut up?"
During the Ibero-American Summit meeting on 10 November 2007 in Santiago, Chile, President Michele Bachelet received little attention as Hugo Chávez repeatedly interrupted José Luis Rodríguez Zapatero. Chávez even went as far as to label Zapatero's predecessor, José María Aznar, the former president of Spain, a 'fascist' and 'less human than a snake', while accusing Aznar of supporting a failed coup d'état aimed at removing Chávez from power. Zapatero's previous comments had already strained his relationship with Chávez, creating tension during the summit. This included his suggestion that Latin America needed to attract more foreign capital to address its chronic and deepening poverty, as well as his claim that Chávez's policies frightened investors away from the region.
In a frustrating response to Hugo Chavez's continuous political theatrics and disqualifications against former Spanish president José María Aznar, Juan Carlos I, King of Spain, asked '¿Porqué no te callas?' (Why don't you shut up?). The statement was a clear expression of his discontent with the ongoing situation. The consequences of this confrontation were significant, extending beyond politics and into the Ibero-American discussion on democratic principles and diplomatic conduct, sparking widespread debate and reflection. King's words were a turning point, initiating conversations across diverse communities on both sides of the Atlantic and leaving a lasting impact on the political landscape.
The Spanish king did not issue a reprimand. Instead, he expressed significant displeasure regarding the actions of the Venezuelan president at that time. It is noteworthy to mention that José Luis Rodríguez Zapatero, a Spanish politician who served as the fifth president of the Government of Spain from 2004 to 2011, effectively navigated through the challenging situation with composure and maintained control by employing ethical communication strategies and impeccable rhetoric. Interestingly, Rodríguez Zapatero later participated in facilitating relations with the Venezuelan government in external political matters.
It is crucial to highlight that Don Juan Carlos Alfonso Víctor María Alfonso de Borbón y Borbón, now referred to as King Emeritus, significantly aided the transition during a critical period in Spain's history. This period is now recognized as the golden era of the country's new beginnings.
During the administration of Felipe González in the 1980s and 1990s, Spain underwent significant political and economic transformation, marked by social reforms and modernization efforts., the terrorist group ETA conducted a series of assaults in Spain, resulting in the deaths of 853 individuals, including 22 minors. Furthermore, ETA executed over 3,500 attacks, causing injuries to 6,389 individuals and carrying out 86 abductions. Notably, ETA perpetrated some of its most brutal attacks during this period, such as the Hipercor massacre in June 1987 and the assault on the Casa Cuartel in Zaragoza in November of the same year. The acts of violence and intimidation perpetrated by ETA had a profound impact on Spanish history. The government led by Felipe González encountered a significant challenge in addressing this terrorist menace while upholding the nation's security and stability.
Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central recognized outstanding contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were celebrated in six articles, highlighting the community's appreciation for their valuable contributions. The platform offers industry professionals a space to display their work, engage with colleagues, and work with prominent figures. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman, showcasing their expertise. - Matt Chester, Energy Central
Image by Germán & Co on Shutterstock shows interesting visuals that spark imagination and inspire creativity.Les triangles d'amour interdits…
Tricorn hats worn by the Civil Guard bear substantial political and historical symbolism, embodying a longstanding tradition that has endured. Within the domain of literature, Pedro Antonio de Alarcón's 1874 novel El Sombrero de Tres Picos depicts the tale of Lucas, a miller in a romantic entanglement with his wife Frasquita and the respected Corregidor of the village. Alarcón's literary work from the 19th century is distinguished by its inclusion of humour, irony, and social criticism, providing a vibrant depiction of rural life in 18th-century Andalusia. Subsequently, Pablo Picasso immortalized this masterpiece by designing the stage curtain for the two-act ballet The Three-Cornered Hat (Le Tricorne), adding dimension to this tapestry.
The Trio plays a crucial and irreplaceable role in capturing the essence of the Kingdom of Cervantes in Don Quixote of La Mancha. These characters influence the narrative significantly, contributing profound depth to the story's depiction of life during that era and drawing parallels to contemporary society. So, Don Quixote is no longer surprised by Sancho.
The narrative provides a reflective analysis of a momentous revelation within the monarchy. The text delves into the formation of a tripartite alliance through a strategic marriage, seemingly aimed at safeguarding the prestigious lineage of the Spanish royal family. This intricate narrative centres on prominent individuals: the aristocratic infant Felipe Borbón y Grecia, born in Madrid in 1964; the commoner Letizia Ortiz Rocasolano, born in Asturias in 1970, with a captivating history of love and fortuitous encounters, embracing left-wing political ideologies and challenging the monarchy; and the esteemed lawyer and successful entrepreneur Jaime Del Burgo, originating from a notable political family, who supported the monarchy in Pamplona in 1970. The historic Kingdom of Spain is the birthplace of all these individuals.
Considering the rigorous security measures typically linked to royal families and Letizia's personal history, having apprehensions regarding the authorization of their marriage is reasonable. Felipe's steadfast dedication to this alliance, demonstrated by his courageous confrontation with his father, King Juan Carlos III, and his willingness to abdicate if his father did not endorse the marriage, introduces intricate layers of complexity and fascination to the situation.
An astonishing development unfolded in her personal life when, despite being in a committed relationship with Jaime Del Burgo, she surprisingly agreed to the Prince of Asturias' proposal for engagement.
This unforeseen decision signified a significant shift in her personal life and sparked a wave of curiosity and speculation in the public domain. Despite her efforts to uphold a discreet image, the relentless examination and continual public focus ultimately revealed every aspect, subjecting her private life to profound public scrutiny.
Most notably, Letizia underwent a voluntary abortion three weeks before the announcement of the royal engagement. Letizia's cousin, David Rocasolano, disclosed in his book Goodbye Princess that the subject might have faced challenges in conceiving and maintaining pregnancies due to past abortions. This information is corroborated by the certificate issued by the Doter Clinic in Madrid on 27 October 2002 (pp. 186–187).
While it may appear simple to attribute responsibility to Letizia for the current chaotic situation, acknowledging that the Prince of Asturias was fully cognizant of all the events that unfolded is essential. Hence, Letizia and Felipe are fully accountable for this significant event shift.
Before advancing with this research, it is essential to explore the historical background of the Spanish monarchy dating back to the era of King Alfonso XIII's grandparents and the Asturias Prince. This exploration is necessary to acquire a thorough comprehension of the prevailing context.
Marriages by convention…
Arranged marriages are often associated with cultural traditions, economic constraints, and political alliances. This practice is particularly prevalent in royal families, where it ensures the continuity of lineages. Marriage arrangements have evolved from early betrothals to postponed unions, motivated by disputed inheritances, social tensions, and the pursuit of stability. Although arranged marriages face numerous challenges, they continue to persist. Sometimes, individuals are forced into these unions to maintain the appearance of royal lineages, mainly when physical or psychological barriers exist, meaning sexual orientations are considered.
Historically, tradition, necessity, and social norms have shaped arranged marriages, resulting in a complex and dynamic landscape of human relationships. However, significant challenges arise when the decision goes awry or when, in the context of a real marriage, the non-real spouse realizes she has made a mistake. For instance, the moment she slips Cinderella's delicate glass slipper onto her foot, a sudden realization dawns upon her, and she becomes acutely aware of the immense power and significance it holds. This newfound awareness can lead to unforeseen complications that test the strength of the relationship. This realization can transform her into the most unwanted and undesirable being, leading to a multifaceted and disturbing scenario.
Terrorist strikes at a Spanish royal wedding in 1906 led to disruptions in the monarchy…
In 1905, the state visit of King Alfonso XIII of Spain to London proved life-changing when he met Princess Victoria Eugenie Julia Ena, King Edward VII's niece. The 18-year-old princess, with her fair complexion and blonde hair, captivated the king during dinner. Despite the language barrier, Alfonso and Ena started a courtship by exchanging letters, gifts, and postcards despite their limited skills in English and Spanish, respectively. Alfonso's mother had reservations about welcoming a Protestant princess into the family, creating obstacles to their engagement. Ena's conversion to Catholicism and Edward VII's elevation of her status helped address these concerns. Despite uncertainties about Ena carrying the haemophilia gene, the couple's engagement was officially announced in Biarritz in late January 1906. The news was publicly revealed in Spain after Ena completed her conversion to Catholicism on March 7, 1906.
On the Royal Wedding Day, cheers of jubilation echoed as the couple approached the grand Royal Monastery of San Jeronimo. Ena walked gracefully down the aisle at 11:15. Cardinal Sancha, the esteemed Toledo Bishop, officiated the sacred union and nuptial mass.
At noon, the newlyweds exited the monastery and were welcomed by the melodious ringing of the bells at England's St. George's Chapel in Windsor. The bustling streets of Madrid were filled with enthusiastic well-wishers cheering for their beloved Queen Ena. Alfonso and Ena boarded their grand eight-horse-drawn carriage on their way to the royal palace. However, during the procession on Calle Mayor, a Catalan anarchist, Mateu Morral Roca, shocked everyone by throwing a loud bouquet from a high balcony.
The seemingly harmless bouquet hid a dangerous bomb that exploded, shocking everyone present as it went off near the last pair of horses and their carriage.
Screams filled the air as over twenty people tragically died, and about a hundred others were injured. In the chaos, two horses died, and the carriage was severely damaged. Amidst turmoil, the king and his new wife ensured each other's safety. Alfonso vividly remembered Ena's spontaneous wave to the cheering crowds, which may have protected her from serious harm despite the surrounding horrors. The guardsman on Ena's right was killed in the horrific explosion, his blood staining her wedding gown. Fortunately, other royal family members, including the future King George V and Queen Mary, had safely arrived at the palace before the tragic events occurred. Unfortunately, some guests, such as the Marchioness of Colosa and her teenage daughter, were not as lucky and became casualties of that tragic day.
The Carriage of Respect, symbolizing the couple's dignity in the face of terrorism, provided solace amid the chaos. With the British Embassy staff forming a protective shield, the carriage went to the palace for a quiet wedding breakfast. Alfonso and Ena visited the hospital the next day. Ena briefly flinched in fear during the carriage ride but quickly reassured everyone of their safety. Their choice to skip a security team and interact directly with the public earned admiration and boosted their popularity.
On June 2, 1906, Roca, a wanted man accused of shooting a police officer, met a tragic end when villagers apprehended him in a rural area after he tried to escape justice. Initially protected by a journalist in Madrid, Roca's cover was exposed when he moved. Official records indicated he shot a policeman and then himself, but doubts remain about the circumstances of his death.
Further examination of his gunshot wound raised suspicions about the firearm's proximity to his body at the time of the incident. Unfortunately, the Royal Couple did not live happily ever after…
The big mistake was why Felipe married Letizia despite all odds. Their history would soon unravel, revealing the reasons behind their decision…
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Four US financial giants retreat on climate action amid political pressure…
Political and regulatory pressures have impacted the withdrawal or reduced involvement of four major U.S. financial giants (JPMorgan et al. Street and Pimco) in Climate Action 100+, the largest coalition working to reduce emissions and address global warming. In its recent annual report to the U.S. Securities and Exchange Commission (SEC), State Street highlighted that opinions on sustainability and ESG practices, especially regarding climate issues, have become politicized, posing reputational risks. This has sparked a political debate in the United States, with Republicans increasing pressure against sustainable investment criteria, known as ESG (environmental, social, and governance). Recent efforts in some states to criminalize these criteria have been met with opposition, but there are ongoing challenges from various political entities.
Artwork by Germán & Co showcases a diverse range of artistic creations, embodying an exquisite fusion of creativity, passion, and skill.Just in three days, our team achieved an impressive milestone, surpassing all expectations and demonstrating our dedication and resilience.
Thank you very much for your kind words and thoughtful expression of gratitude!Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
JPMorgan, Pimco, BlackRock and State Street withdraw from Climate Action 100+ group following Republican pushback
The JP Morgan Chase offices in New York.MIKE SEGAR (REUTERS)
MIGUEL JIMÉNEZ, El Pais..
Washington - FEB 19, 2024 - 12:54CET
Political and regulatory pressure seems to have taken its toll. Four U.S. financial juggernauts (JPMorgan, BlackRock, State Street and Pimco), which hold trillions of dollars in assets, have withdrawn or reduced their involvement in Climate Action 100+, the biggest coalition of investors and large companies vying to curb emissions and combat global warming.
“Opinions on sustainability or ESG practices, particularly those related to climate issues, have become political issues, which can heighten reputational risks,” State Street said in its annual report, submitted this week to the U.S. Securities and Exchange Commission (SEC). “They are bowing to climate change deniers,” says one Democratic official.
Sustainable investment criteria, or ESG — which stands for ‘environmental, social and governance’ — are at the heart of an ideological and political tussle in the United States. Republicans have ramped up pressure against these criteria on several fronts. The latest proposal, in the New Hampshire state legislature, was to criminalize them in some cases. The initiative has been rejected, but some states are vetoing management firms that apply them and there is also pressure from Congress.
The chairman of the House Judiciary Committee, Jim Jordan, and two other Republicans sent letters to State Street, BlackRock and Vanguard executives, requesting explanations of their ESG practices. In the letters, the congressmen suggested that the companies were violating U.S. antitrust law by coordinating and entering into collusive agreements to “decarbonize” assets being managed and reduce emissions to net zero. Membership in groups such as Climate Action 100+ was particularly in focus. Some 700 investors belong to this organization, but these four giants accounted for $14 trillion, approximately 20% of the total.
The withdrawal of the financial leaders does not imply that the companies are abandoning the fight against climate change, but rather that they are disassociating their actions from the guidelines laid down by the group. Last year, Climate Action 100+ established new, stricter guidelines aimed at making investors more active in their efforts to reduce emissions. The entities claim that by withdrawing they intend to maintain their autonomy and independence of decision making in relation to the companies.
Political division
The initial announcements were applauded by Congressman Jordan: “Today’s decisions by JPMorgan and State Street are big wins for freedom and the American economy, and we hope more financial institutions follow suit in abandoning collusive ESG actions,” he tweeted.
In contrast, New York City Comptroller Brad Lander, a Democrat, disapproved: “Climate risk is financial risk. Today BlackRock, JPMorgan, and State Street are choosing to ignore both,” he said in a statement. “By caving in to the demands of right-wing politicians funded by the fossil fuel industry and backing out of their commitment to Climate Action 100+, these enormous financial institutions are failing in their fiduciary duty and putting trillions of dollars of their clients’ assets at risk,” he added, before concluding: “Put plainly: they are caving to climate deniers.”
Lander was particularly critical of BlackRock, whose chief Larry Fink claimed three years ago that climate risk is a financial risk and was at the forefront of climate investment activism. The firm has not completely withdrawn from the Climate Action 100+ group, but has left its place to its international division.
BlackRock had previously issued the first warning that things were about to change in its 2022 annual report. “ESG and sustainability have been the subject of increased regulatory focus across jurisdictions,” it warned. “Some US states and/or state officials have adopted or proposed legislation or otherwise have taken official positions restricting or prohibiting state government entities from doing certain business with entities identified by the state as “boycotting” or “discriminating” against particular industries or considering ESG factors in their investment processes and proxy voting. Other states and localities may adopt similar legislation or other ESG-related laws and positions,” it adds.
Another problem for large investment firms is the differences in perception and regulation in the United States and Europe. State Street readily acknowledges this in its annual report: “The general expectations of our stakeholders, including regulators and clients, outside the United States, especially in Europe, with regard to sustainability or ESG issues may be significantly different from expectations in the United States. Because we perform our asset management activities globally, conflicting global expectations in the U.S. and outside the U.S. complicate our ability to mitigate risks,” it explains.
ESG criteria have changed in the risk management criteria of listed companies. Before, the risk was not to adopt them. Now, the risk is to apply them, or both at once. “Activists have taken actions intended to change or influence JPMorgan Chase’s business practices with regard to ESG issues, including public protests at JPMorgan Chase’s headquarters and other properties, and the submission of specific ESG-related proposals for a vote by JPMorgan Chase shareholders,” the bank says in its annual report.
“Fiduciary, anti-competitive, voting power, governance and other issues posed by ESG investment strategies remain the subject of legislative and regulatory debate around the world, especially at the federal and state levels in the United States,” says State Street, which stresses the regulatory and political scrutiny to which the entity is subjected. “Some U.S. officials have suggested that investment practices related to sustainability or ESG may result in violations of the law — including antitrust laws — and breaches of fiduciary duty,” it admits.
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AES's top dog, President and CEO Andrés Gluski, aims to greenify the economy…
Andrés Gluski, the CEO of AES, is on a mission to make the economy more eco-friendly. Microsoft commends AES for its significant contribution to achieving renewable energy targets within the Alliance for a Better World. Alok Garg, the Renewable Energy and Asset Finance leader at Wells Fargo, highlights green energy clients' challenges in accessing necessary funds. Wells Fargo has partnered with AES to provide financial solutions, such as a sophisticated bond program, to raise substantial funds for AES's projects. The AES Spotsylvania Solar Center is a prominent solar project in Virginia, known as the largest solar installation in the eastern United States.
AES is receiving praise from Curry Roberts, the leader of the Fredericksburg Regional Alliance, for their significant dedication to community engagement. Andrés Gluski is fully committed to combating climate change and creating a more sustainable future, particularly for the next generation, including his granddaughter.
Artwork by Germán & Co showcases a diverse range of artistic creations, embodying an exquisite fusion of creativity, passion, and skill.Just in three days, our team achieved an impressive milestone, surpassing all expectations and demonstrating our dedication and resilience.
Thank you very much for your kind words and thoughtful expression of gratitude!Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
Andrés Gluski, President and CEO of The AES Corporation, emphasizes the significant challenge of decarbonizing the economy and the need for innovation to achieve this essential objective. In his role, Gluski highlights the critical role that AES plays as a leading supplier of renewable energy to corporations worldwide. The company specifically focuses on catering to technology firms with ambitious sustainability goals, positioning itself at the forefront of driving meaningful change in the energy sector.
In order to ensure the widespread utilization of renewable energy sources and reduce dependency on non-renewable alternatives, innovative technologies such as the 24/7 hourly match renewable product have been effectively implemented. These advancements play a crucial role in fostering sustainable energy practices and contributing to the overall reduction of environmental impact.
Alok Garg heads Wells Fargo's renewable energy and financing.Microsoft acknowledges and commends AES for its significant contribution to efficiently achieving the company's renewable energy objectives. Alok Garg, the Head of Renewables and Asset Finance at Wells Fargo, sheds light on the existing challenges that renewable energy clients encounter in securing necessary capital. In response to this, Wells Fargo has established a partnership with AES to offer financial solutions, such as a structured bond program, and has effectively raised substantial funds to support AES's projects. Notably, AES is responsible for overseeing the operations of the Spotsylvania Solar Center in Virginia, which stands as the largest solar facility in the eastern United States.
Curry Roberts heads the Fredericksburg Regional Alliance..AES has garnered commendation from Curry Roberts, the president of the Fredericksburg Regional Alliance, who lauds their fervent dedication to community engagement. Furthermore, Andrés Gluski has publicly emphasized his unwavering commitment to addressing climate change and working towards a more sustainable future, particularly for the benefit of future generations, including his own granddaughter.
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The AES company is a top energy storage innovator, according to Juan Ignacio Rubiolo, Executive VP and President of Energy Infrastructure…
Today, during his recent speech, Juan Ignacio Rubiolo, the Executive Vice President of AES Corporation and President of Energy Infrastructure, enthusiastically shared some thrilling updates about the company's ongoing leadership in energy storage and its steadfast dedication to fostering innovation. Researchers at Australia's CSIRO have made a groundbreaking breakthrough in solar technology. AES Corporation remains committed to pioneering sustainable energy solutions and staying at the forefront of industry advancements. This dedication underscores the company's significance in shaping the future of energy solutions. AES Indiana has been granted approval by the Indiana Utility Regulatory Commission for an independent battery energy storage system in Pike County. This marks a significant milestone in their pursuit of sustainable energy solutions.
Image:The information provided is courtesy of AES Corporation, a global company dedicated to improving lives by providing safe, reliable, and sustainable energy solutions.Just in three days, our team achieved an impressive milestone, surpassing all expectations and demonstrating our dedication and resilience.
Thank you very much for your kind words and thoughtful expression of gratitude!Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
The information provided is courtesy of AES Corporation, a global company dedicated to improving lives by providing safe, reliable, and sustainable energy solutions.This commitment shows how important the company is in creating future energy solutions.
Australia's CSIRO has the potential to greatly improve solar technology, highlighting AES Corporation's commitment to advancing sustainable energy solutions.
AES Indiana has obtained approval from the Indiana Utility Regulatory Commission for an independent battery energy storage system in Pike County.
Today, Juan Ignacio Rubiolo, Executive Vice President of AES Corporation and President of Energy Infrastructure, shared exciting news about the company's continued leadership in energy storage and its unwavering commitment to fostering innovation during his recent address. In his remarks, he highlighted a groundbreaking discovery by researchers at Australia's CSIRO that has the potential to revolutionize solar technology. This further underlines AES Corporation's dedication to pioneering sustainable energy solutions, showcasing its determination to stay at the forefront of industry advancements.
It appears that time is slipping away from us at a speed beyond comprehension, and we seem to have completely overlooked the moments when we used to pray for the electricity to go out or when we scrambled to adjust the TV screen with our familiar, characteristic expressions.
"Dad, the batteries were dead..." The words were uttered with a mixture of annoyance and resignation, echoing the familiar chorus of frustration found in every household, the ongoing battle against the inevitable power drain of favorite gadgets. The disappointment that accompanied the death of the batteries in our toys and transistor radios was palpable, a testament to our reliance on those trustworthy "Eveready" batteries to power our entertainment, only to let us down. And then there were the car batteries, oh the frustration when they decided to stop working, seemingly at the most inopportune moments. It was in these instances that the burden of our dependence on technology and convenience became starkly apparent. Dad's expression conveyed his disappointment as a forgotten phrase slipped from his lips, and the misery continued as the light bulb began to flicker, signaling the electrical system's unwarranted fluctuations before plunging us into darkness. What a horror it was.
Nevertheless, the battery's remarkable journey through history is worthy of admiration. In 1800, the Italian physicist Alessandro Volta made a groundbreaking invention with the creation of the first real battery. Constructed from copper (Cu) and zinc (Zn) discs, separated by a cloth soaked in salt water, his invention produced a steady and stable flow of current when wires were connected to both ends of the battery. Volta's pioneering work introduced a reliable and unwavering source of power, symbolizing progress and opening up new possibilities. Yet, it is important to acknowledge that Volta was not the original innovator; precedents of batteries can be traced back to 250 BC and have ancient Mesopotamian roots.
Certainly, advancements in electrical systems have been significant over the centuries. The persistent challenge of maintaining stability in voltage and frequency for electrical power systems has spurred continuous development. While this issue has been a longstanding dilemma, a solution is now within reach. Interestingly, historical records indicate that a resolution to this problem was recognized as early as 250 BC, albeit with varying technological capabilities.
In 2018, the legendary AES from the United States, recognized for its pioneering contributions to the global electricity industry, and the renowned Siemens from Germany, a key player with a rich heritage in the field, joined forces to create Fluence Energy, marking a significant milestone in the evolution of the sector.
Researchers have also recently discovered that cascading ceramic particles have the ability to store solar energy for long periods of time, outperforming established technologies such as mirrors and molten salts. These particles possess exceptional heat resistance and can endure temperatures of up to 1000 degrees Celsius, allowing them to retain solar energy for up to 15 hours. Moreover, these innovative batteries boast enhanced durability and cost half as much as conventional batteries, providing a more cost-effective alternative to molten salt systems. AES remains dedicated to leveraging pioneering technologies to facilitate the energy transition, with Cascading Ceramic Particles representing just one of these groundbreaking advancements promising to enable solar energy storage and support the transition to renewable energy sources.
In another notable development, AES Indiana has obtained approval from the Indiana Utility Regulatory Commission for an independent battery energy storage system in Pike County.
This project represents a significant advancement in AES' sustainability goals by integrating up to 1,300 MW of wind, solar, and battery energy storage over a period of five years. AES Indiana President and CEO Ken Zagzebski expressed pride in the company's progress towards cleaner and more efficient energy solutions. He emphasized the importance of a balanced and responsible energy transition. The recently approved Pike County Battery Energy Storage Project will be located at AES Indiana's Petersburg Generating Station. This project is specifically designed to provide 200 MW of installed capacity and 800 MWh of dispatchable energy. The system is anticipated to be operational by December 2024 and is expected to substantially improve grid reliability. AES Indiana aims to quadruple its renewable energy and energy storage capacity from 400 MW to 2,200 MW by 2027, effectively showcasing and reinforcing its commitment to sustainable energy solutions.
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Weekend recap: Mayday, mayday, mayday... I find myself in a situation where I seem to have lost my sanity, echoing Joe's predicament…
Mayday, mayday, mayday... I find myself in a situation where I seem to have lost not only my day but also my sanity, echoing Joe's predicament. Vladi, please send a doctor urgently.
How do Trump's personal goals fit the bigger picture? Although he's never read Mein Kampf, he admires some of Hitler's policies. Moreover, Trump strongly supports Netanyahu, which creates a contrast and raises questions. Also, his strong backing of Putin suggests a desire to disrupt Europe. What's next in this complicated web of alliances and loy?
The strategy involves implementing separation to establish control. The upheaval in Europe can be attributed to political factors, as President Trump abandoned the traditional approach of treating Europe as a close-knit unit and instead displayed a preference for authoritarian figures like Xi Jinping, Vladimir Putin, and Benjamin Netanyahu over Europe's democratically elected leaders.
Furthermore, the significant impact of Tucker Carlson's interview with President Vladimir Putin must be considered. During the interview, on the sidewalk of the —alderman— of the walled Kremlin, Putin appeared good-natured and slyly happy, as if a —strong spirit—had lifted his soul. He must have rejoiced in the good work that his Donald was doing him. Nasdrovia tovarich Donald!!! This is especially noteworthy considering the former president's messages delivered through Carlson, which Trump himself emphasised when, just three days after that controversial tête-à-tête, his statement regarding NATO allies sounded the alarms of a potential nuclear attack.
Summary:
Trump 2.0 would mean chaos and threat for Europe. Now is our chance to prepare…
The Guardian by Nathalie TocciTrump’s in big legal trouble, but he’s still a nightmare for Europe…Despite the indictments, the former US president’s return remains the nightmare – but one that’s been pushed to the back of the mind.
POLITICO EU BY *JAMIE DETTMERTrump says he warned NATO allies: Pay in or he’d tell Russia to ‘do whatever the hell they want.’
NYT by Michael GoldNikki Haley denounces Trump’s NATO comments and defends her husband against his attacks.
“Don’t take the side of a thug who kills his opponents,” Ms. Haley said on CBS’s “Face the Nation” on Sunday, after Donald Trump suggested he might encourage Russia to attack a NATO member.
NYT By Maggie AstorWhy the Cost of Biden’s Climate Law Keeps Going Up
Forecasters say the president’s clean-energy incentives will be more effective than they had originally expected, in part because of new federal regulations.
NYT *Jim TankersleyHe Grew Up in the Shadow of the ‘Wolf of Wall Street.’ Then He Got Into Debt Settlement.
Ryan Sasson built a business that reaped hundreds of millions of dollars in fees for helping people negotiate down their debts. But former clients — and prosecutors — say it was exploitative.
NYT by *Stacy Cowley and Emma Goldberg*The reporters spoke with more than two dozen current and former employees and customers at Strategic Financial Services over the past five months.
Image Germán & Co by Shutterstock offers a diverse collection of high-quality photographs and illustrations suitable for various creative projects. With a wide range of subjects and styles, it provides an extensive library for designers, marketers, and content creators to find the perfect visual content for their needs.Just in three days, our team achieved an impressive milestone, surpassing all expectations and demonstrating our dedication and resilience.
Thank you very much for your kind words and thoughtful expression of gratitude!Editorial:
Mayday, mayday, mayday... I find myself in a situation where I seem to have lost not only my day but also my sanity, echoing Joe's predicament. Vladi, please send a doctor urgently.
How do Trump's personal goals fit the bigger picture? Although he's never read Mein Kampf, he admires some of Hitler's policies. Moreover, Trump strongly supports Netanyahu, which creates a contrast and raises questions. Also, his strong backing of Putin suggests a desire to disrupt Europe. What's next in this complicated web of alliances and loy?
The strategy involves implementing separation to establish control. The upheaval in Europe can be attributed to political factors, as President Trump abandoned the traditional approach of treating Europe as a close-knit unit and instead displayed a preference for authoritarian figures like Xi Jinping, Vladimir Putin, and Benjamin Netanyahu over Europe's democratically elected leaders.
Furthermore, the significant impact of Tucker Carlson's interview with President Vladimir Putin must be considered. During the interview, on the sidewalk of the —alderman— of the walled Kremlin, Putin appeared good-natured and slyly happy, as if a —strong spirit—had lifted his soul. He must have rejoiced in the good work that his Donald was doing him. Nasdrovia tovarich Donald!!! This is especially noteworthy considering the former president's messages delivered through Carlson, which Trump himself emphasised when, just three days after that controversial tête-à-tête, his statement regarding NATO allies sounded the alarms of a potential nuclear attack.
US President Donald Trump and German Chancellor Angela Merkel disagreed about Russian influence and military spending before a Nato summit. Trump criticized Germany for depending too much on Russian natural gas, while Merkel defended her country's contributions to the alliance. This clash followed a previous dispute over trade at the last summit they both attended. Trump later made more friendly comments after meeting Merkel at the Brussels summit. This meeting happened shortly before Trump's upcoming summit with Vladimir Putin, sparking concerns among US allies about his relationship with the Russian president.
President Trump criticized Germany's reliance on Russian energy and its low defense spending at a NATO meeting in Brussels. Chancellor Merkel defended Germany's independence, citing its history with the Soviet Union's control.
https://www.bbc.com/news/world-europe-44780489
Check out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central celebrated top contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were featured in 6 articles, demonstrating community recognition. The platform enables professionals to share their work, interact with colleagues, and collaborate with influencers. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman for demonstrating their expertise. - Matt Chester, Energy Central
Summary:
Trump 2.0 would mean chaos and threat for Europe. Now is our chance to prepare…
The Guardian by Nathalie TocciTrump’s in big legal trouble, but he’s still a nightmare for Europe…
Despite the indictments, the former US president’s return remains the nightmare – but one that’s been pushed to the back of the mind.
POLITICO EU BY *JAMIE DETTMER
Trump says he warned NATO allies: Pay in or he’d tell Russia to ‘do whatever the hell they want.’
NYT By Michael GoldNikki Haley denounces Trump’s NATO comments and defends her husband against his attacks.
“Don’t take the side of a thug who kills his opponents,” Ms. Haley said on CBS’s “Face the Nation” on Sunday, after Donald Trump suggested he might encourage Russia to attack a NATO member.
NYT By Maggie AstorWhy the Cost of Biden’s Climate Law Keeps Going Up
Forecasters say the president’s clean-energy incentives will be more effective than they had originally expected, in part because of new federal regulations.
NYT *Jim TankersleyHe Grew Up in the Shadow of the ‘Wolf of Wall Street.’ Then He Got Into Debt Settlement.
Ryan Sasson built a business that reaped hundreds of millions of dollars in fees for helping people negotiate down their debts. But former clients — and prosecutors — say it was exploitative.
By *Stacy Cowley and Emma Goldberg*The reporters spoke with more than two dozen current and former employees and customers at Strategic Financial Services over the past five months.
Andrés Gluski is the respected CEO of AES, a well-known international energy company operating on several continents and dedicated to creating new and eco-friendly energy solutions.AES has a clever plan in the changing energy industry during worldwide uncertainty…
The company is set to gain from the worldwide move towards cleaner energy. AES invests in U.S. utilities, green hydrogen, and carbon-free energy to expand its clean energy portfolio. With its growing clean energy backlog and investment plans, AES is a solid option for global clean energy investors, even though it's not exclusively focused on clean energy. AES in Fortune's World's Most Admired Companies list. Tech and energy giants now central to global economy. Apple holds top spot for 17th year based on survey of 3,700 executives, directors, and analysts. AES honored as one of the Most Admired Companies.
How do Trump's personal goals fit into the bigger picture? Although he's never read Mein Kampf, but he admires some of Hitler's policies. At the same time, he strongly supports Netanyahu, which creates a contrast and raises questions. Also, his strongly buck to Putin suggests a desire to disrupt Europe. What's coming next in this complicated web of alliances and loy…
Germán & Co
"Artwork by Germán & Co via Shutterstock" Trump 2.0 would mean chaos and threat for Europe. Now is our chance to prepare…
The Guardian by Nathalie TocciAs Donald Trump romps to the Republican nomination for the next presidential race, there is justified anxiety among the US’s European allies about his return to the White House. It is all but certain that 2024 will see a rerun of Joe Biden v Trump. Europe needs to prepare for the possibility of a second Trump presidency.
The last one was traumatic for Europe. This was not really for policy reasons. There were policy divisions such as Trump’s withdrawal from the Iran nuclear deal. But transatlantic policy tensions are hardly new: there have been times – the US-led war in Iraq in 2003 for example – when the rift was deeper.
Europe’s trauma had more to do with politics: Trump was the first American president not to treat Europe as family. He visibly felt more comfortable with authoritarians such as Xi Jinping and Vladimir Putin than with Europe’s democratically elected leaders.
Trump’s antipathy towards Europe has not changed. Second time around, these bad political vibes would probably translate into much greater policy chasms. Whereas his first term was internally erratic and largely ineffective, with frequent resignations and oscillations, a second could be more coherent and determined. Rather than diverse strands of the Republican party together in an unwieldy coalition, Trump 2.0 would be 100% Maga (Make America Great Again). He would not limit himself to unpleasant tweets.
Add to this, an international context that is far more challenging. Europe is deeply shaken by two wars, one of them on the continent itself. Neither Russia’s invasion of Ukraine nor war in the Middle East have any end in sight. In fact, the possible return of Trump may be among the reasons driving Putin and Benjamin Netanyahu to prolong their wars. After November, Europe’s strategic predicament could be worse than the dire one we have today.
What might Trump 2.0 imply for Europe? On the economy and the Middle East, differences would intensify. Transatlantic relations have not been easy since Biden’s Inflation Reduction Act, or what is viewed by many as his free pass to Israel’s war in Gaza. But with Trump, things would almost certainly deteriorate.
It is likely he would U-turn radically on Ukraine. He has threatened to drop Kyiv overnight, unless it accepts a “peace” struck by Washington (likely on Moscow’s terms). Deal or no deal, it is difficult to see Trump keeping up US military aid to Ukraine. Abandoning Ukraine would probably embolden Moscow further, raising the Kremlin’s level of imperial ambition in Ukraine and beyond. If Putin believes that Trump would not lift a finger to stop him, he could go as far as threatening Nato.
A second Trump presidency could also undermine American democracy, perhaps fatally. With four criminal indictments weighing on him, Trump would move against the judiciary, further undermining its independence. He would probably make good on his threats to go after those he considers traitors, with the risk of unleashing a 21st-century version of McCarthyism.
Picking up where he left off in 2020, Trump might go further in weakening the already frail multilateral order, starting with the UN. A democratic winter in the US would not remain confined to American borders, but reverberate across the world, starting with Europe.
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Cooperate with objective and ethical thinking…
We aim to provide high-quality, accurate information. Your support keeps us independent and our journalism balanced. Donate 2 euros or any amount to help us continue delivering precise, well-researched articles. Thank you for standing with us. -The Team
Trump’s in big legal trouble, but he’s still a nightmare for Europe…
Despite the indictments, the former US president’s return remains the nightmare – but one that’s been pushed to the back of the mind.
POLITICO EU BY *JAMIE DETTMER
*Jamie Dettmer is opinion editor at POLITICO Europe. With former United States President Donald Trump ensnared in mounting and potentially politically terminal legal woes, some European leaders and politicians are breathing more easily . . . but only a little.
For months now, in the margins of global summits and gatherings — including Davos, the Munich Security Conference and the Aspen Ideas Festival — discussions have increasingly turned to considering what a second Trump term might mean for Europe and NATO, as well what its impact would be on the West’s support for Ukraine.
“It is all anyone wants to talk about,” said Ivo Daalder, former U.S. ambassador to NATO, who heads the Chicago Council on Global Affairs. “Everyone’s asking everyone else what’s going to happen. I hear people asking all the time what it will do to Ukraine if Trump gets back into the White House.”
Europe’s nightmare is still of a Trump return, but it’s a bad dream that’s been pushed to the back of the mind. With the former president declaring his candidacy, and recent court appearances and indictments merely fueling his popularity among his Republican base, however, many on the Continent are now asking, what’s the plan?
For most European leaders, Trump’s first term was — to say the very least — traumatic, accompanied as it was with threats to pull the U.S. out of NATO; a refusal to emphatically reaffirm the NATO Treaty’s Article 5, guaranteeing mutual assistance in the event of armed attack; and rifts on a range of issues from trade and immigration to sanctions on Russia and climate change.
Low points came in quick, unrelenting succession. In May 2017, a few months after he entered the White House, Europeans hoped a more moderate Trump might emerge, making strenuous efforts to placate and court the man Germany’s Handelsblatt newspaper had dubbed the “Boor-in-Chief.” Surely, he would temper his campaign remarks, including his description of Brussels as a “hellhole” because of what he claimed was a lack of “assimilation” of the Muslim population.
But those hopes were rapidly squelched on Trump’s first presidential visit to Europe, dashing talk of resetting transatlantic relations that had been roiled by his turbulent election.
While Trump and his aides described the trip as a “success,” European leaders and officials complained that the team was ignorant of basic facts — notably on transatlantic trade. “Every time we talked about a country, he remembered the things he had done,” an official told Belgium’s Le Soir. “Scotland? He said he had opened a [golf] club. Ireland? He said it took him two-and-a-half years to get a license and that did not give him a very good image of the EU.”
And that first taste of Trump prompted then German Chancellor Angela Merkel, a firm transatlanticist, to question where the Western alliance was heading. Speaking at a rally in Germany, she said: “The times in which we can fully count on others are somewhat over, as I have experienced in the past few days.” And while acknowledging that Germany and Europe should strive to maintain good relations with the U.S. and Britain, Merkel also said, “We need to know we must fight for our own future as Europeans, for our destiny.”
Her mood didn’t improve the next year, when at the G7 summit in Canada, Trump took two pieces of candy out of his pocket, threw them in front of the German chancellor and said: “Here, Angela, don’t say I never give you anything,” as French President Emmanuel Macron, Merkel and others were trying to persuade him to sign a communiqué on a rules-based international order.
So, when Joe Biden — the most pro-Atlanticist president since George H.W. Bush — defeated Trump, there was unmitigated relief. “Relations will be less abrasive, and we won’t have to weather a presidential commentary of needling all-caps tweets,” a senior German official told me.
Gone was the White House’s encouragement of the Continent’s Euroskeptic populists; gone, too, was the cozying up to Russian President Vladimir Putin. Not that anyone expected all to be smooth sailing — both the U.S. and Europe had changed, and Biden seemed as though he might pursue an “America First” agenda, though not, as he pointed out, an “America Alone” one. However, the episodic questioning of the very value of the transatlantic defense pact Trump had engaged in, as well as the bruising encounters and brusque tweets aimed at European leaders, was now also gone.
However, after all this, some European politicians now fault their colleagues and national leaders for not drafting contingency plans and thinking hard enough about how to cope with a second Trump term.
For the French lawmaker Benjamin Haddad, Europe’s security cannot rest on the whims of the U.S. electorate | Geoffoy van der Hasselt/AFP via Getty Images
French lawmaker Benjamin Haddad, a member of Macron’s Renaissance party, says no one should assume Biden will be reelected, nor bank on Trump being found guilty on the indictments filed this week by U.S. Special Counsel Jack Smith — the most momentous in America’s 247-year history.
“I believe Europeans are not taking seriously enough the probability of a Trump reelection,” Haddad told POLITICO. “Indictments, regardless of whether justified from a legal standpoint, clearly strengthen him for the Republican primary. And he’s neck and neck with Biden in the general election polls. At this point, it seems like a 50-50 scenario. Europe’s security cannot rest on the whims of the U.S. electorate,” he added.
Some planning in Europe has now finally begun on how to safeguard the transatlantic security pact — as well as how to cushion Ukraine from Trump. But not enough, according to a top lobbyist in Washington who represents some European countries. He asked for his name to be withheld in order to speak freely. “Are people preparing sufficiently for the possibility of a Trump administration? The answer is no. I’ve been saying we need to prepare for this because he looks weak in many ways, but he is the presumptive nominee,” he said.
Notwithstanding the indictments Smith has filed, contingency planning needs to get underway in earnest, the lobbyist emphasized, arguing that worst-case scenario planning is always prudent. “Especially when you consider all the consequences we would likely see with a second Trump administration, which would be so much worse than the first. Because the question is, who’s going to go into the next Trump administration? At least you had some very solid sort of folks going in the first time around. Who’s going to go back a second time? That’s especially scary,” he added.
And as a lobbyist, he’s been working with some Republican congressman to start erecting legislative guardrails to try and restrict a President Trump from withdrawing from NATO or cutting off aid to Ukraine.
But Daalder believes such legislation, even if passed, can only do so much to fence in Trump. “Okay, you can make it law that you cannot withdraw from NATO without Senate approval. The problem with that is you don’t have to actually pull out of NATO to destroy it,” he said. “And so, I really don’t think there is a legislative fix for this. The only way to avoid Trump destroying NATO is for Trump not to become president.”
“Some of the Europeans I talk with say if the worst happens, they’ll be able to weather a Trump presidency like they did the first time,” Daalder added. “But I tell them they’re whistling in the graveyard.”
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The picture is from The New York Time.Trump says he warned NATO allies: Pay in or he’d tell Russia to ‘do whatever the hell they want.’
NYT By Michael GoldFormer President Donald J. Trump said on Saturday that, while president, he told the leaders of NATO countries that he would “encourage” Russia “to do whatever the hell they want” to countries that had not paid the money they owed to the military alliance.
Mr. Trump did not make clear whether he ever intended to follow through on such a threat or what that would mean for the alliance, but his comment at a campaign event in South Carolina — a variation of one he has made before to highlight his negotiation skills — is likely to cause concern among NATO member states, which are already very nervous about the prospect of a Trump return.
Mr. Trump’s suggestion that he would encourage Russian aggression against allies of the United States — for any reason — comes as Republicans in Congress have pushed back against more aid for Ukraine in its war against Russia, and as European officials have expressed concerns over possible Russian aggression on NATO’s Eastern side.
Russia’s president, Vladimir Putin, dismissed those warnings as “threat mongering" in an interview with Tucker Carlson, the former Fox News host, that aired on Thursday. “We have no interest in Poland, Latvia or anywhere else,” Mr. Putin said.
But he has also called on the United States to “make an agreement” to end the war in Ukraine by ceding Ukrainian territory to Russia, comments that were seen by some as an appeal to American conservatives to block further involvement in the war.
Some European officials and foreign policy experts have said they are concerned that Russia could invade a NATO nation after its war with Ukraine concludes, fears that they say are heightened by the possibility of Mr. Trump returning to the presidency.
In a statement, a White House spokesman, Andrew Bates, called Mr. Trump’s comments “appalling and unhinged,” adding, “Rather than calling for wars and promoting deranged chaos, President Biden will continue to bolster American leadership and stand up for our national security interests — not against them.”
Mr. Trump has previously expressed his belief that support for NATO is overly burdensome on the United States, saying the alliance drains its financial and military resources. His campaign website says that the country must re-evaluate the organization’s purpose.
He has in the past recalled privately telling NATO members that the United States would not defend them from Russian attacks if they were in arrears. Last year, he claimed during a campaign speech that “hundreds of billions of dollars came flowing in” to NATO after he made that threat.
On Saturday, he again brought up that anecdote, saying that he told European leaders they had to “pay up.”
Then, he said, the president of “a big country stood up and said, ‘Well, sir, if we don’t pay and we’re attacked by Russia, will you protect us?’”
Mr. Trump said he asked the other president if the country was “delinquent” in its payments. The leader responded, “Yes. Let’s say that happened,” Mr. Trump said.
“No, I would not protect you,” Mr. Trump recalled responding. “In fact, I would encourage them to do whatever the hell they want. You’ve got to pay. You got to pay your bills.”
Image Germán & Co by Shutterstock offers a diverse collection of high-quality photographs and illustrations suitable for various creative projects. With a wide range of subjects and styles, it provides an extensive library for designers, marketers, and content creators to find the perfect visual content for their needs.Nikki Haley denounces Trump’s NATO comments and defends her husband against his attacks.
“Don’t take the side of a thug who kills his opponents,” Ms. Haley said on CBS’s “Face the Nation” on Sunday, after Donald Trump suggested he might encourage Russia to attack a NATO member.
NYT By Maggie AstorNikki Haley condemned former President Donald J. Trump on Sunday for suggesting that he might not defend NATO allies, and that he might even encourage Russia to attack them, if re-elected.
“Don’t take the side of a thug who kills his opponents,” Ms. Haley said on CBS’s “Face the Nation.” “Don’t take the side of someone who has gone in and invaded a country, and half a million people have died or been wounded because of Putin. Don’t take the side of someone who continues to lie. I dealt with Russia every day. The last thing we ever want to do is side with Russia.”
Ms. Haley was responding to comments Mr. Trump made at a rally on Saturday night, when he recounted a conversation with a foreign leader during his presidency in which he said he might not defend a NATO country against a Russian attack if the country were “delinquent” on funding to the alliance. “No, I would not protect you,” Mr. Trump said he replied. “In fact, I would encourage them to do whatever the hell they want.”
What Older Americans Say About Age and Leadership
We asked readers whether they thought the ages of President Biden, 81, and former President Donald Trump, 77, affected their ability to be president.
“The world is changing too rapidly (in dangerous ways). It is time to put egos aside and let a new generation of leaders move us forward.” — Christopher Hardwick, 66, Edgewater, Md., independent
“It is perfectly normal to forget names and words at this age, but I do not believe that this renders one incapable of governing or disrupts one’s thinking rationally.” — Kathleen Young, 80, Longmont, Colo., registered Democrat
“I worked a 45-year career in nuclear power plant operation, which is a highly critical, mentally challenging occupation. In my opinion, they are both too old. There should be an age limit on U.S. presidents.” — Kevin Robinson, 65, Lincolnton, N.C., registered Republican
“I’ll make it to 70 this year. I’m not concerned about their ages. I’m concerned about their ability to think through complex situations and apply judgment in the best interest of the people of the United States.” — Ken Lawler, 69, Alpharetta, Ga., nonpartisan
“I’ll be 70 on my next birthday. I think people need to stop being presidents at the age of 70.” — Kathi Sweetman, 69, Rochester, N.Y., unaffiliated
“I am 76 years old and I believe that age doesn’t matter if a person keeps themselves in good mental and physical condition. I think age is a positive if a person has learned from their past experiences.” — Greg White, 76, Cobden, Ill., registered Democrat
Though there were disputes during Mr. Trump’s administration over some European countries’ spending commitments to their own militaries, there was no debt owed to the alliance.
When the CBS show’s host, Margaret Brennan, asked whether Ms. Haley would “adhere to the premise that an attack on one is an attack on all” if elected president, Ms. Haley said, “Absolutely.”
Our politics reporters. Times journalists are not allowed to endorse or campaign for candidates or political causes. That includes participating in rallies and donating money to a candidate or cause.
“We do want NATO allies to pull their weight, but there are ways you can do that without sitting there and telling Russia, ‘Have your way with these countries,’” she said. “If you notice, Russia has never invaded a NATO country. They’ve invaded Georgia, Moldova and Ukraine. They are actually very intimidated by NATO. NATO allows us to prevent war.”
In his rally on Saturday, Mr. Trump also insulted Ms. Haley directly, suggesting that her husband, Michael Haley, a major in the Army National Guard who is deployed to Djibouti, had left the country to avoid being with her.
“This isn’t personal about me and Michael,” Ms. Haley said in the interview on Sunday. “This is about what it says to every member who sacrifices for us. This is about what it says to every military family who sacrifices alongside of them. We can’t have someone who sits there and mocks our men and women who are trying to protect America.”
Ms. Brennan noted that, during his 2016 campaign, Mr. Trump mocked Senator John McCain for having been a prisoner of war and insulted the parents of a soldier killed in combat, but Ms. Haley nonetheless agreed to work for him as ambassador to the United Nations.
“I agreed to serve our country, and I’m proud I got to serve our country,” Ms. Haley replied.
Mr. Trump’s comments on NATO also drew condemnation on Sunday from former Gov. Chris Christie of New Jersey, who was the most outspoken Trump critic in the Republican primary until he ended his campaign last month.
“It’s one thing, and I think it’s right, for a president to say to a NATO member, ‘Hey, you’ve got to pay the dues you need to pay,’” Mr. Christie said on NBC’s “Meet the Press.” “But the problem with Donald Trump is he can’t just stop there. He’s got to say, ‘I would encourage Russia to do whatever the hell they wanted to you.’ That is absolutely inappropriate for a president of the United States or a candidate for president of the United States to be saying, but it is consistent with his love for dictators.”
The picture is from The New York.Why the Cost of Biden’s Climate Law Keeps Going Up
Forecasters say the president’s clean-energy incentives will be more effective than they had originally expected, in part because of new federal regulations.
NYT *Jim Tankersley*Jim Tankersley is an economics reporter who covers policy from the White House.The estimated price tag for President Biden’s clean-energy and climate agenda has effectively doubled since the Inflation Reduction Act was signed into law a year and a half ago.
Nearly all of the increase is attributable to forecasters’ belief that the law will be more popular than they had originally expected, in part because of the way the Biden administration wrote certain regulations. That rising price tag may actually be good for reducing greenhouse gas emissions — and for the U.S. economy.
The Inflation Reduction Act, which Democrats passed on a party-line vote in summer 2022, includes tax credits and other subsidies for low-emission energy technologies that are meant to help wean the nation from fossil fuels.
Many of those credits are effectively unlimited, meaning the more people or companies choose to claim them, the more they will add to federal deficits. The uncapped credits include incentives for manufacturers to build solar-panel or wind-turbine factories, and for consumers to buy electric vehicles. Budget scorekeepers have to estimate how popular those credits will be, in order to forecast how much they’ll cost.
When the law passed, the nonpartisan Congressional Budget Office published an estimate based on work by the congressional Joint Committee on Taxation projecting that the energy components would add $391 billion to deficits over a decade, from 2022 to 2031. It revised those forecasts upward last spring and again on Wednesday based on joint committee calculations.
Clean-energy manufacturing is booming.
The law has supercharged investment in American manufacturing facilities of some low-emission technologies, led by solar panels, advanced batteries and the full supply chain for electric vehicles.
An investment tracker by the Rhodium Group, a consultancy that follows energy and climate spending, and the Massachusetts Institute of Technology shows companies spent $44 billion on clean-energy manufacturing in America over the past year, with significantly more planned in the years ahead. Those companies will benefit from the tax breaks in the climate law, either directly or indirectly.
The popularity of those credits has surprised forecasters. Budget office officials said Wednesday that they now expected the provisions to add about $205 billion more to deficits through 2031 than they had initially anticipated, based on joint committee estimates.
Electric vehicles could also surge.
Forecasters now expect the consumer credit for electric vehicles, which is as much as $7,500 for an electric car or truck, to cost several times as much as initially expected. That calculation isn’t really based on sales of electric vehicles, which hit a record last year even though annual sales growth slowed from 2022. It stems from a pair of Biden administration regulations that are meant to fuel more electric vehicle sales — and which the budget office expects to be quite effective.
The first regulation is in place and expanding access to the electric-vehicle credit. The I.R.A. doesn’t allow every electric vehicle sold in America to qualify for the credit. It restricts the subsidies to cars and trucks that are largely sourced and assembled in the United States, in order to support domestic manufacturing. But there is a loophole, which was codified by a Treasury Department regulation: Car shoppers who lease, instead of buy, their electric vehicles can effectively receive the full credit even if their vehicles do not otherwise meet sourcing and manufacturing requirements. Not coincidentally, electric-vehicle leases shot up last year.
The second regulation is a proposal from the Environmental Protection Agency that could result in two-thirds of new passenger cars sold in the United States to be all-electric by 2032. The budget office estimates that regulation, once finalized, will incentivize more Americans to buy electric vehicles and cash in on the tax credit. They’ll also burn less gasoline, which will reduce federal gas tax revenues.
Concerted climate action could help the economy and the budget.
Rhodium modelers estimated last year the I.R.A. will result in a steep cut to U.S. emissions, though not quite enough to meet the nation’s pledges for 2030 under the Paris Agreement on climate change. The rising costs in the law suggest it could spur even deeper emissions cuts than those forecasts.
A more effective Biden climate agenda could potentially catalyze more ambitious global action to cut emissions and avert economically catastrophic warming levels. Administration officials have warned the risks of climate inaction are large for the economy and the budget. In 2022, the White House budget office estimated unchecked climate change could reduce the size of the economy by as much as one-tenth by the end of this century.
They also estimated climate damages could force the government to spend an extra $1 trillion or more in today’s dollars over the course of a decade on flood insurance, disaster relief, health care costs from heat waves, and more.
But the climate law now probably adds to the deficit.
The I.R.A. was more than a climate law. It also raised some corporate taxes, increased subsidies for some people who buy health coverage through the Affordable Care Act and cut federal spending on prescription drugs by allowing the government to negotiate prices with pharmaceutical companies. It also gave more money to the Internal Revenue Service to crack down on corporations and high earners who have been able to avoid paying taxes they owe. The net result, the budget office initially estimated, was a law that slightly reduced deficits over a decade.
The rising cost of the energy and climate incentives now flips that math. The law, by the C.B.O. and J.C.T. accounting, is on track to add slightly to deficits from 2022 to 2031.
Biden officials still contend the law will reduce deficits on net. They estimated this week that the I.R.S. enforcement efforts will bring in $432 billion from 2022 to 2031, which is $252 billion more than the budget office forecast. Treasury officials say that is more than enough, by their math, to offset the losses from a more successful climate effort and ensure the law still reduces deficits.
“The Inflation Reduction Act is bringing billions in private-sector capital off the sidelines to invest in America,” Michael Kikukawa, a White House spokesman, said Thursday. He said the law “will reduce the deficit over the long run by cutting wasteful spending on special interests, making big corporations pay their fair share and cracking down on wealthy tax cheats.”
He Grew Up in the Shadow of the ‘Wolf of Wall Street.’ Then He Got Into Debt Settlement.
Ryan Sasson built a business that reaped hundreds of millions of dollars in fees for helping people negotiate down their debts. But former clients — and prosecutors — say it was exploitative.
By *Stacy Cowley and Emma Goldberg*The reporters spoke with more than two dozen current and former employees and customers at Strategic Financial Services over the past five months.In the early 1980s, 19-year-old Jordan Belfort — who would go on to become known as the Wolf of Wall Street, a title he bestowed on himself in a tell-all memoir — had a fortuitous encounter on Jones Beach, on Long Island, with another teenager selling ice cream named Stephen Drescher.
The two became friends. Prosecutors would later note their shared hustling spirit, a drive for entrepreneurialism that curdled into a drive for grift. Within a few years, Mr. Belfort started building a pump-and-dump stock-scam empire. He took Mr. Drescher under his wing as he built a boiler room brokerage that would go on to defraud more than 1,000 investors, later memorialized in Martin Scorsese’s box office hit “The Wolf of Wall Street.”
Mr. Belfort’s enterprise collapsed in the late 1990s, when he was arrested and pleaded guilty to fraud and money laundering. Mr. Drescher went down not long after, convicted of securities fraud and sent to federal prison for nearly four years.
He, too, had a spiritual successor of sorts: his stepson Ryan Sasson.
Bronzed, athletic and self-assured, Mr. Sasson is chief executive of Strategic Financial Solutions, a large employer in Buffalo often hailed by politicians and business publications as a fast-growing exemplar of corporate citizenship. Its call center, packed at its peak with hundreds of workers, offers well-paying jobs in a region eager for economic expansion. Strategic regularly makes four- and five-figure philanthropic donations to local causes; New York’s lieutenant governor cut the ribbon at its Buffalo office opening. On its website, the company, which also has a Manhattan office, boasts of luxe perks like massage therapy rooms and bonus trips.
The company’s primary business is debt settlement, helping consumers buried in credit card bills negotiate down what they owe and extract themselves from financial turmoil. Strategic has more than 75,000 clients and has saved them $1 billion over the last three years through its negotiated debt deals, the company’s president said in January in a legal filing.
But state and federal prosecutors, former clients and former employees cast Strategic in a very different light.
The company’s business is predatory, they say, and uses a nationwide network of accomplice law firms to exploit clients — many of them struggling, low-income people — and extract fees that often total tens of thousands of dollars for services that can sometimes leave customers financially worse off than when they started. Clients think that they’re paying those fees to law firms to represent them in the high-risk process of debt settlement. Instead, the clients are funneled mainly toward workers with no legal training, and frequently find themselves unrepresented in legal proceedings.
Some manage to get the debt relief they seek, but others are left with tattered credit scores and legal judgments against them that have led to wage garnishments and debts even larger than when they started.
In January, government regulators pounced.
After an investigation that started more than four years ago, the Consumer Financial Protection Bureau — along with the attorneys general of New York, Colorado, Delaware, Illinois, Minnesota, North Carolina and Wisconsin — sued Strategic and its operators, including Mr. Sasson, on civil fraud charges. They asked a Federal District Court judge in Buffalo to immediately freeze the company’s assets and hand over its operations to a receiver. Citing the case’s strength — the government prosecutors are “likely to prevail on the merits of this action,” the judge wrote — he granted their request within 24 hours.
Strategic has asked the court to reverse that decision. “We continue to believe this case is really targeting the law firms,” said Dennis Vacco, a lawyer representing Strategic. “They don’t have authority over the law firms so they are squeezing their administrative service provider.”
Strategic took in hundreds of millions of dollars in fees from clients in the last seven years, according to the regulators’ January complaint. The company transferred at least $72 million to private companies controlled by Mr. Sasson and his business partners, prosecutors said. Another $36 million flowed from the network of Strategic-affiliated law firms to the private family trust of Mr. Sasson’s longtime business associate, Jason Blust.
As federal regulators closed in on his business, a yacht Mr. Sasson co-owns went up for sale: the $2.6 million “Strategic Dreams.”
Former clients highlight the financial and psychological toll that the program took on them. More than 40 percent drop out before their debts are resolved, according to Strategic’s own legal filings. In one-third of the client cases examined by the suing regulators, customers paid Strategic’s affiliated law firms but never received any debt relief. In other cases, the debts eliminated were eclipsed by the fees they paid.
Americans have a lot of debt — to the tune of $1.1 trillion on credit cards — and there’s a huge business in helping people manage it. Many of those debt holders say they feel like they’re drowning. When they’re promised help, they don’t necessarily ask questions about what they’re paying for, and why.
The Cockroach Theory
Mr. Sasson, who is 45, was born in New York City to Ginjer and Joseph Sasson, who divorced when he was young. His mother, who died 11 years ago, was introduced by Mr. Belfort to Mr. Drescher.
After college at Tulane University, Mr. Sasson worked on a retail clothing venture. His post-college career played out amid his stepfather’s trial, 2001 conviction and imprisonment for securities fraud.
Mr. Drescher’s crimes involved manipulating the market prices of small companies’ initial public offerings. The trades netted millions for Mr. Drescher’s employer, the now defunct brokerage Monroe Parker Securities, and earned him six-figure bonuses. The family lived large, with tens of thousands of dollars in limousine charges, according to court records, often for travel to the family’s $70,000-a-summer Hamptons rental.
The sprawling scheme’s many participants included the shoe designer Steve Madden, who pleaded guilty to stock fraud. Mr. Drescher’s indictment details events that seem drawn from a caper movie, like the hours he and an accomplice spent buying gambling chips at Caesars Palace and the Mirage in Las Vegas in what prosectors said was a scheme to launder illicit cash.
The casino move was one of many tactics Mr. Drescher learned from his infamous mentor, government lawyers claimed. “What Belfort taught Drescher was enough to give him a Ph.D. in securities fraud,” William Johnson, a prosecutor for the U.S. attorney for the Southern District of New York, told the jury during Mr. Drescher’s trial.
Prosecutors also introduced to the courtroom a notion that Mr. Belfort had often discussed with colleagues, called “the cockroach theory.”
“When the regulators would squash a firm, sort of like stepping on a firm, all the roaches would scatter,” one of Mr. Drescher’s associates, Bryan Herman, said in his testimony. “So when the regulators would squash a penny stock firm, the brokers would scatter and then reappear in other firms somewhere else.”
In 2006, the same year his stepfather left prison, Mr. Sasson set up the company that became an anchor for some of his many enterprises over the next decade: Timberline Capital, which made short-term loans to retailers. Mr. Sasson invested in dry cleaners and restaurants, including My Belly’s Playlist, a sandwich shop that was sued for wage theft and settled. (In many of his pursuits, he found himself entangled in lawsuits.)
Debt settlement was a market that Mr. Sasson gravitated toward early and returned to repeatedly. It is also where his own business dealings intersected with those of his stepfather, Mr. Drescher, who had been disbarred and stripped of his broker’s license. (Mr. Drescher did not respond to a request for comment.)
“I am deeply offended that you attempt to tar me with the personal history of my stepfather, who married my mother when I was a teenager,” Mr. Sasson told The New York Times. “If you want to know the biggest influences on my life, you can start with my parents. They are of strong character and values, which I like to believe they instilled in me.”
In 2009, both men were named in one complaint in a handful of lawsuits against Elimadebt. This was a company managed by Mr. Sasson that used a business model he later incorporated into Strategic’s: handling sales for debt settlement lawyers. The lawsuits, filed by a disgruntled partner law firm, accused the company of contract violations.
Federal court filings in Miami by the angry business partner described Mr. Sasson as a “straw man” for his stepfather. Elimadebt ceased operations soon after the lawsuit was settled in 2011. (Lawyers representing Strategic and Mr. Sasson called the straw-man allegation “completely false.”)
Mr. Sasson had by then moved on to a new company, Legal Helpers Debt Resolution, which was sued by four state attorneys general for defrauding consumers by charging hefty upfront fees, then doing very little to negotiate down the consumers’ debts. (Mr. Drescher and Mr. Sasson’s mother were also tangentially involved. They ran a services business that did work for Legal Helpers.) To settle those lawsuits, Legal Helpers and some of its leaders agreed, over several years, to pay more than $14 million in penalties and consumer restitution and to cease operations, according to government prosecutors’ legal filings.
Mr. Sasson was not personally named as a defendant in the Legal Helpers lawsuits.
Legal Helpers started winding down its business in 2012. That’s the same year that Strategic appeared to start operating, though it lists its founding date as 2007.
“If you look back at the detritus of Legal Helpers after it was dismantled, the same names show up,” said Lucy Prather, an attorney for the City of Chicago, which filed suit in 2022 against Strategic and an affiliated law firm.
Strategic would become the biggest moneymaker of Mr. Sasson’s career.
A High-Stakes Game of Chicken
Christopher Elkins, 49, has been cited by Strategic as a success story.
Mr. Elkins enrolled with Canyon Legal Group, a Strategic affiliate, in 2019, after receiving a mailed advertisement. He dropped out of the program in late 2023. In those four years, he had debts totaling $85,000 settled for $42,000. He paid $26,000 in fees to Canyon, leaving him with a net savings of $17,000. Had his debt lingered, his interest alone — 28 percent or higher on each of his credit cards — would, in just one year, have eclipsed what he paid Canyon in fees.
But Mr. Elkins found the experience of working with the company miserable. By around the 20-month mark, he recalled, he had paid some $20,000 to have only a few relatively small debts resolved, and his credit score had nose-dived from around 740 to 520. In the following months, he faced four lawsuits from creditors; Canyon represented him in at least two, according to Strategic’s legal filings. As he tried to reach an attorney, he was continually directed to customer service.
Mr. Elkins fired Canyon. He said he and his wife then, on their own, negotiated settlements to all four of the lawsuits.
“They are vultures,” Mr. Elkins said in an interview to The New York Times. “They are preying on people who find themselves in dire need of support.”
Rick Gustafson, a lawyer who runs Canyon, said that “at trial, Mr. Elkins testified that he was ‘drowning’ in debt before he retained Canyon,” adding, “Thanks to Canyon, he is no longer drowning.”
Consumers typically heard about Strategic through advertisements — the company sent some 2 million direct mail solicitations a week — that told them they had prequalified for a low-interest loan. When they called to find out more, sales representatives often told them they weren’t actually eligible for a loan, but encouraged them to instead enroll, through one of Strategic’s partner law firms, in the debt settlement program.
Debt settlement is essentially a high-stakes game of chicken. The first thing companies tell their clients to do is stop paying their monthly debt bill. Instead, the client puts money each month into an escrow account — generally less than they would have owed for their credit cards’ minimum payments. The goal is to force the debt into default.
Once a customer fails to pay for an extended period, many creditors will write off the loan as a soured debt and sell it to a collection firm for pennies on the dollar. That’s the sweet spot for settlement: The new buyer will usually accept far less than the debt’s face value. Debt settlement negotiators use the funds their client has stashed away in escrow to pay off the reduced debt. A $30,000 credit card bill, for example, might get settled for $15,000 or less.
The maneuver causes significant collateral damage to the client. Customers’ credit scores plunge once they stop paying their bills, and many creditors will sue to pursue what they’re owed. (Strategic warns potential clients that this is part of the process.)
At that point, clients need to have lawyers who are responsive to incoming lawsuits if they want to avoid default judgments, which typically seek the debtor’s full owed tab plus additional fees. Some settlement companies make it clear that they will not provide legal aid. If a client gets sued, they refer the client to outside lawyers or tell them to go find their own.
Strategic, though, makes its legal help the centerpiece of its pitch. Sales employees’ scripts, according to a legal filing by the receiver now controlling the company, instructed them to tell prospects that they would be connected to an “established law firm that specializes in helping clients resolve their own personal debt.”
What that arrangement allowed Strategic to do is to begin billing right away. Under federal and many state laws, debt-settlement companies generally cannot charge clients until they actually deliver a settlement deal. But attorneys can.
It’s enticing for clients who are drowning in debt to feel like they can pay, albeit heavily, for a legal team to guide them through the process of negotiating down their debts.
But that’s not exactly what they’re getting, according to interviews with former employees and clients, as well as legal filings from prosectors. Cases are handed over to negotiators with no legal training. The lawyers don’t even consistently show up for the clients in court, though Strategic-affiliated firms say that they do sign off on final settlements.
By the time clients are halfway through the program, some have paid tens of thousands to Strategic and face lawsuits from creditors — with very little of their debt resolved.
“No system operated by a human being is going to be perfect, but we aimed for perfection,” Mr. Sasson said in an email. “We have helped more than 100,000 people over the years get back on their feet by saving them a lot of money. That is the definition of consumer protection.”
A Network of Law Firms
Strategic relies on a network of at least 20 law firms, which take on an average of 5,000 to 10,000 clients each — extremely high loads for firms that generally had five to 20 employees.
Mr. Blust, who worked with Mr. Sasson at Legal Helpers, oversees this network of firms. Mr. Blust’s firms keep roughly 20 percent of client fees, and the other 80 percent go to Strategic, emails filed in court show.
“With the exception of Pioneer (a law firm that hasn’t taken a new client in many years), the law firms Blust consults with (including those in this case) are owned and independently operated by the attorney owners,” said Rodney Personius, an attorney for Mr. Blust.
The lawyers who own these firms take on risks. One lawyer, Daniel Rufty, a recent law school graduate from a for-profit and now-shuttered school, paid $10 for ownership of a Strategic-affiliated firm — then, months into his tenure, found out he was under investigation by his state’s bar association for misleading clients and “criminal debt adjusting.”
Mr. Rufty was suspended from the practice of law for five years. He declined to comment through his lawyer. Strategic emerged unscathed.
Strategic’s complicated structure has come under legal scrutiny before. In 2020 — after lawyers in Florida sued Strategic and accused it of skirting the law by portraying its own employees as law firm workers — debt negotiators were abruptly reclassified by Strategic as employees of the law firms instead of Strategic or its subsidiaries. (The Florida case was settled, on undisclosed terms.)
But current and former employees, and legal filings from Strategic’s receiver, said that the new arrangement was largely illusory. While the negotiators now technically worked for the law firms, they still reported to Strategic staff. The negotiators used Strategic’s systems and in some cases, when they weren’t remote, worked from Strategic’s offices, according to interviews with former negotiators and legal filings. Some said they didn’t know the names of the people who operated the firms and were supposedly their bosses.
Lawyers for Strategic and its affiliated law firms have insisted, in court filings and in interviews, that the arrangement is valid and transparent.
“The firms’ attorneys are involved in every settlement,” said Terrence Connors, a lawyer representing the firms.
‘To Have No Money for a Week Was Terrifying’
When Anne Barsch, 48, first learned about a Strategic-affiliated law firm, Monarch Legal Group, she felt a wave of relief. She had roughly $60,000 in debt from making home improvements and supporting her young children. She thought Monarch could negotiate down those debts and represent her when creditors sued. She and her husband agreed to pay $818 monthly into an escrow account for the program.
Ms. Barsch said in interviews, and testified at the trial in Buffalo, that she lost trust in Monarch when she learned that a judgment had been entered against her by a creditor — after she’d stopped paying bills, at the firm’s instruction — and her lawyer hadn’t shown up in court to represent her. Her bank account was frozen for a week.
“To have no money for a week was terrifying,” she recalled, adding that she then started reading about Monarch online and learned the firm was being sued by the City of Chicago.
She sent letters to her creditors saying she had been “scammed” and asking to negotiate with them on her own. She learned that Monarch had sent lawyers to represent her for just 30 percent of her court dates, according to her testimony.
A spokesman for the law firms said they settled six of Ms. Barsch’s 10 debts. Ms. Barsch said they settled two, and she and her husband did the others on their own.
Another Monarch client, Julia Briggs, 43, who had been sued by a creditor, showed up at her own court date and discovered that no attorney had come to represent her. Leading up to the hearing, she said in interviews, she was told she couldn’t get her attorney’s direct contact information, leaving her to wonder: What exactly were all her legal fees going toward? She then reached out to a new lawyer, Scott Priz, to file suit against Strategic in 2022.
A spokesman for the law firms said Ms. Briggs signed up for a 24-month program and left roughly halfway through.
While customers like Ms. Briggs and Ms. Barsch said they were unfairly served by the firms, the federal prosecutors’ case rests on a narrower legal issue.
Debt collection laws are a patchwork mostly governed by state statutes. But a federal law requires debt settlement companies that promote their services by phone to close the deal for legal services in person, through a face-to-face meeting with the customer.
Rather than sending sales representatives, Strategic, on behalf of its affiliated law firms, hired gig worker notaries — who effectively came into each meeting cold — to handle those meetings and finalize paperwork. The crux of the government’s case hinges on whether those notaries qualified as sales representatives of the law firms.
A Lavish Corporate Culture
When Ben Kopp, 35, started at Strategic in 2018, the job at first seemed like run-of-the-mill sales. He made 150 to 200 calls a day, seated among rows of other headset-wearing salespeople, pitching customers on the debt settlement program.
But just hours into his employment, Mr. Kopp was cautioned not to tell customers that he was calling from Strategic and to instead say he was calling from one of the law firms associated with Strategic, or from one of the law firms’ support organizations. He recalled looking across the table and catching another new hire’s gaze.
“We kind of met eyes and were like, ‘All right, what did we get hired to do?’” he said. “‘Why wouldn’t we tell them what we’re calling from?’”
Many of the salespeople who worked at Strategic believed, at least in their early months at the company, the clients were actually getting good legal representation, Mr. Kopp said. He had a clearer view into what was happening because he had a college friend who worked on Strategic’s negotiations team.
After a few months, he began searching for a way out, realizing that many customers felt they were being exploited. “It affected me from a moral perspective,” he said.
Some of his colleagues also came to realize — over break room conversations with colleagues in customer service — the potential harms of the program. He heard one sales consultant announce proudly to her teammates that she had enrolled her mother in Strategic’s program. Many in earshot were alarmed, he recalled. “We couldn’t come out and say, ‘Don’t do that’ but we were trying to hint toward, ‘Why would you do that?’”
Still, there were perks. The money clients paid fueled a corporate culture with lavish touches. High performers were presented with Rolex watches and steakhouse dinners. The top salespeople were flown to Las Vegas. Office parties featured beer kegs; celebrations were held at restaurants, with cocktails and D.J. music.
Mr. Sasson’s business, at its prepandemic height, was bringing in tens of millions of dollars each year, according to former employees and legal filings from prosectors.
In 2017, the company sold itself to its employees, through a financial transaction known as an ESOP (Employee Stock Ownership Plan). The deal valued the company at $242 million. Mr. Sasson described the transaction as something of a gift to the employees — “our Strategic family,” he called them — who had built the company.
Mr. Sasson had, effectively, cashed out. His employees now owed 100 percent of Strategic.
A Surprise Federal Lawsuit
On Friday, Jan. 12, in the middle of the afternoon, Strategic’s nearly 1,000 employees — all working remotely, as the staff typically did on Fridays — were abruptly shut out of their company systems. Some were cut off right in the middle of calls with customers.s
Three days later, workers learned over group chats with managers that there had been a lawsuit filed against the company. They were told they’d be put on paid leave while the company’s lawyers fought back. On Friday, Jan. 19, the federal court in Buffalo unsealed the regulators’ complaint.
Former employees said they had been drawn to the firm because of its pitch about helping struggling people get back on their feet.
“It’s that fantasy job that you see in television and movies — like at the beginning of ‘The Wolf of Wall Street,’” said David Briggs, who worked as a litigation negotiator for Strategic until 2022, and did not know about Mr. Sasson’s family connection to Jordan Belfort when he drew the comparison. “They really kept you hyped up; they kept you feeling like you were part of a family, a team, and that you were doing good in the world.”
The fate of Strategic — and its work force — is now in the hands of the federal court. If the company remains in receivership, it will soon be out of business, Strategic’s lawyers have told the court.
And the ESOP — the vehicle that turned over ownership of Strategic to the company’s employees — will be wiped out if Strategic folds. Mr. Briggs’s shares were valued on his last statement at $6,090. He anticipates that by his next statement, that number may fall to zero.
The perpetual narrative of the three-cornered hat: An intriguing narrative on the subject of Public Relations…
As Japan made the decision to shut down its nuclear plants, the subsequent surge in demand for fuel led to a significant spike in natural gas prices. This change, however, created an opening for U.S. companies to capitalize on by converting import terminals into export terminals, resulting in a remarkable increase in gas exports from the U.S. Consequently, this pivotal shift has not only brought substantial profits to oil and gas companies but has also served to bolster American influence worldwide. Despite the positive implications of this development, environmental activists have raised valid concerns about the impact of the surge in liquefied natural gas exports on global warming. By Germán & Co…
In just eight years, the United States has rocketed from barely selling any gas overseas to becoming the world’s No. 1 supplier, a remarkable shift that has profited oil and gas companies and strengthened American influence abroad. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse.
Last month, the Biden administration said it would pause the permitting process for new facilities that export liquefied natural gas in order to study their impact on climate change, the economy and national security. Even with the pause, the United States is still on track to nearly double its export capacity by 2027 because of projects already permitted and under construction. But any expansions beyond that are now in doubt. By NYT…
Artwork by Germán & CoCheck out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central recognized outstanding contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were celebrated in six articles, highlighting the community's appreciation for their valuable contributions. The platform offers industry professionals a space to display their work, engage with colleagues, and work with prominent figures. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman, showcasing their expertise. - Matt Chester, Energy Central
Picture by Germán & Co via ShuttersockThe trio of prongs, whether symbolically or physically represented, has intricately woven itself into the fabric of Spanish history, resonating across art, politics, and tumultuous love. For instance, the iconic tricorn hats worn by the Civil Guard transcend their utilitarian purpose to embody a profound historical legacy, symbolizing enduring tradition and unwavering resilience. Furthermore, the indelible mark of the trio extends to the realm of art, as exemplified by Pablo Picasso's masterful rendition of The Three-Cornered Hat, a testament to creativity amidst adversity during a tumultuous period in Spain's narrative. This deep entrenchment in Spanish culture underlines the trio's remarkable ability to endure and play diverse roles, encapsulating the complexities of the nation's past and present with steadfast significance
This compelling narrative delves deep into the intricate web of relationships that intertwine Felipe Borbón y Grecia, born in Madrid in 1964, Letizia Ortiz Rocasolano, born in Asturias in 1970, and the affluent lawyer Jaime Del Burgo, hailing from Pamplona in 1970. Their convergence forms an unyielding alliance aimed at preserving the esteemed heritage of the Spanish monarchy. Before, during, and after the union of Borbón and Ortiz Rocasolano, their bond faced tumultuous trials stemming from Letizia's association with Jaime Del Burgo and the speculation surrounding Felipe's role in the future of the Spanish monarchy.
At times, the lack of success of a plan can be ascribed not only to human error and the incapacity to uphold confidentiality, but also to the complexities of human emotions and the intricate web of political motivations. In this case, emotional factors such as spite, combined with political influences related to the troubled amnesty law, significantly contributed to the triggering factors that led to the plan's failure. Misinterpretations and misunderstandings arising from these emotional and political intricacies further exacerbated the challenges encountered, ultimately resulting in the unproductive outcome. between individuals frequently result in significant repercussions that affect the broader society.
Furthermore, insights from David Rocasolano, cousin of Ortiz Rocasolano, in his publication "Goodbye Princess," provide illumination on the difficulties encountered by the individual tasked with fertilization and gestation of the embryos. The book contains a conclusive certificate from the Madrid Clinic Doter, dated October 27, 2002, revealing details of three abortions before her marriage to the prince of Asturias (pp. 186-187). This complicates the initial strategy and results in more unfavorable outcomes than previously anticipated.
In a recent YouTube interview with psychiatrist José Miguel Ganoa, Don Jaime Peñafiel suggested that the ovules for the gestations of the Princess of Asturias were provided by her sister.
Currently, the newest triangular dynamic exclude Jaime del Burgo and includes to Pedro Sánchez Pérez-Castejón Prime Minister of Spain since June 2018. He is known for his leadership in the Spanish Socialist Workers' Party and his efforts in promoting progressive reforms including the abolition of Monarchy.
That is why, being one of the members of the first trio is non-military, beside that with complex personality traits, politically and these is even paradoxical, contrary to monarchical dynasties and like all with some past, minor or major, in this case, for the mission undertaken, it was absolutely serious.... It was impossible that the strategy in favour of preserving the blue-blooded succession would succeed... Now, like everything, no matter how well planned the strategy is, there is no shortage of surprises, and apparently from all the information that has been thrown into the ring, the vehicle of fertility was not one hundred percent... adding other unpected echo whit implications of devastating human events...
This effectively merges historical context with contemporary relevance, shedding light on a pivotal period in the country's history. The first trio's actions plunged the nation into a labyrinthine state marred by unresolved issues, creating significant challenges necessitating astute navigation and resolute leadership. Delving into the impact political and moral of King Alfonso 13th: The Last King Before Franco's Rule is instrumental in gaining a comprehensive understanding of the historical political panorama of the nation.
Throughout World War I, King Alfonso adeptly maintained a neutral stance, leveraging his connections to aid prisoners and partake in humanitarian efforts. His battle with illness during the Spanish Flu pandemic reverberated widely. Amid economic upheaval and waning public support, Alfonso's affiliations with the generals ultimately led to his exile following the establishment of the Spanish Republic in 1931. Although he never formally abdicated, he and his family were compelled into banishment, with Alfonso never setting foot in Spain again, effectively signaling the denouement of an epoch for the Spanish monarchy.
Alfonso's Legacy and Later Years During his exile, faced charges of treason by the Spanish parliament, only to be saved from trial due to the outbreak of civil war. His sons renounced their claims to the throne, and it was his grandson, Juan Carlos, who eventually restored the monarchy in 1975, marking a new chapter in the history of Spanish royalty and the culmination of Alfonso's tumultuous legacy. Alfonso's later life was known for his reputation as a "Playboy King," with many extramarital affairs and rumored ties to the Spanish pornography industry. He stepped down from the throne in 1941 and passed away the same year, ending an era with a scandalous legacy. Eventually, his remains were moved to the royal crypt in El Escorial, Spain. His wife, Ena, died in Switzerland in 1969 and was laid to rest in the royal crypt in 1985, 16 years later.
The trio, consisting of important figures, has involved Spain in a precarious state marked by complexity and uncertainty, with no immediate resolution in sight. This situation is giving rise to formidable challenges that demand cautious navigation, strategic decision-making, and deliberate leadership in order to effectively address the intricate issues at hand.
The three people show how Spain keeps changing, with a mix of old, new, and future parts. No plan can be perfect because of limits we can't avoid. People make plans to reach their goals in different parts of life—short-term, mid-term, or long-term. This includes setting goals, making plans, and thinking of ways to make these plans work. When all these parts work well together, you reach your goals. In today's business world, it's super important to plan well and think ahead. The basic ideas come from military strategies. In security and defense, planning is getting more complicated because the operational situation is changing and uncertain.
Planning within this domain is influenced by various factors, including technological advancements, evolving adversaries, shifting threats, diverse missions, legal frameworks, and strategies.
The terrain has shifted from defence to a more comprehensive approach to national security, indicating a fundamental change. Developing a well-planned strategy is crucial for individuals with military training, as it demands discipline and poses inherent risks to national security.
Strategic planning in security and defence is essential for adapting to evolving circumstances and safeguarding national interests.
But in the end, if there is anyone responsible for all this gigantic failure, it is the national security establishments for not having aborted this operation
How the U.S. Became the World’s Biggest Gas Supplier…
Picture by Germán & Co via ShuttersockTop exporters of liquefied natural gas
12 billion cubic feet per day
The data shows the average yearly exports of liquefied natural gas by country, based on S&P Global.The New York Times article by Brad Plumer and Nadja Popovich on February 2, 2024.In just eight years, the United States has rocketed from barely selling any gas overseas to becoming the world’s No. 1 supplier, a remarkable shift that has profited oil and gas companies and strengthened American influence abroad. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse.
Last month, the Biden administration said it would pause the permitting process for new facilities that export liquefied natural gas in order to study their impact on climate change, the economy and national security. Even with the pause, the United States is still on track to nearly double its export capacity by 2027 because of projects already permitted and under construction. But any expansions beyond that are now in doubt.
At the core of the debate over whether to allow more exports is a thorny question: With governments across the globe pledging to transition away from fossil fuels, how much more natural gas does the world need?
America’s gas export boom initially caught many policymakers by surprise. In the early 2000s, natural gas was relatively scarce at home, and companies were spending billions of dollars to build terminals to import gas from places like Qatar and Australia.
Fracking changed all that. In the mid-2000s, U.S. drillers perfected methods to unlock vast reserves of cheap natural gas from shale rock. At the same time, natural gas prices began spiking elsewhere in the world, especially after Japan shut down its nuclear plants in the wake of the Fukushima reactor meltdown in 2011 and began demanding more fuel.
That led to a stunning reversal. American companies, led by Cheniere Energy, began spending billions more to convert import terminals into export terminals, and shipments of U.S. gas to other countries began to surge.
Spain declares Truman Capote Persona Non Grata…
"But Pancho, the Triangle of Love between Alexander the Great and Hephaestion is an old and deep bond, crucial in Alexander's life, despite his marriage to Aesthetira in 370 BC."The chaos unfolding within the royal chambers reverberates throughout the nation, casting a profound impact on its politics and laws. As tensions escalate, members of the royal family engage in impassioned discussions, particularly focusing on crucial political matters such as "la anmistía." Moreover, their scrutiny extends to recent developments within the EU, with unanimous disapproval voiced since yesterday. In light of recent events, the Spanish media has adopted an unprecedented new practice of self-censorship. This shift has not gone uncontested, as social media platforms such as YouTube have emerged as a counterbalance, providing alternative channels for uncensored information and opinions.
The captivating post garnered an impressive 200,000 views on "X" within the span of just one day, showcasing its widespread resonance and impact in a remarkably short timeframe. You can find the post on the given link: https://x.com/Germantoroghio/status/1752997980074922033?s=20‘Major demand growth’
Natural gas is most easily transported by pipeline. To send it across oceans, the gas must be chilled to 260 degrees Fahrenheit below zero, turning it into a liquid. The process of making and shipping liquefied natural gas adds complexity and cost, but if the difference between U.S. natural gas prices and overseas prices is big enough, it is profitable.
“It comes down to economics,” said Kenneth Medlock, senior director at the Center for Energy Studies at Rice University. “Production just keeps growing in the United States, which keeps prices low. And then we keep seeing major demand growth in the rest of the world.”
The export boom has transformed America’s role in energy geopolitics.
Where U.S. liquefied natural gas exports go?
Data is accessible until October 2023 from the Department of Energy.Europe has become the biggest importer of American gas in recent years, enabling the continent to slash by more than half its reliance on Russian gas since Russia’s invasion of Ukraine in 2022.
In the future, Europe is expected to curb its appetite for gas by adding more renewable energy sources like wind and solar power. The main growth markets for natural gas are expected to be fast-growing Asian countries such as China, India, Pakistan, Bangladesh and Vietnam that want to use the fuel for electricity, heating or industrial purposes.
But as U.S. exports keep skyrocketing, critics have raised concerns about the climate change impact of transporting and selling more gas around the world.
A complex climate question…
The last time the Energy Department studied this issue, in 2019, it concluded that U.S. liquefied natural gas often produced fewer greenhouse gas emissions than other types of coal or gas used around the world. That meant that more exports could actually be beneficial for climate change if U.S. gas replaced those other fossil fuels. (When gas is scarce, some countries like Pakistan and Bangladesh have recently opted to burn more coal instead.)
But some environmentalists have disputed those conclusions, arguing that the analysis didn’t fully account for all the planet-warming methane leaks that can accompany natural gas production, and that it didn’t study whether a glut of gas might displace cleaner renewable energy rather than coal. The Energy Department is expected to study these questions while it puts permits for new projects on hold.
In the meantime, the U.S. gas boom is far from over, even with the permitting pause that has stirred debates and discussions across the energy sector and among policymakers. Despite the temporary halt in permitting, the underlying factors driving the gas boom, including technological advancements and growing global demand, continue to provide a strong foundation for the industry's sustained growth in the foreseeable future.
U.S. will almost double its export capacity, even though permitting has paused…
The export capacity shown is based on each facility's main capacity. The start dates are only approximate.Since 2016, U.S. energy companies have built seven large facilities in Texas, Louisiana, Maryland and Georgia that can export around 11.4 billion cubic feet of liquefied natural gas per day, according to the Energy Information Administration.
Another five projects along the Gulf Coast are already permitted and under construction and will be able to export an additional 9.7 billion cubic feet per day by 2027 — nearly doubling America’s export capacity. Three more facilities are currently being built in Mexico that will receive U.S. gas by pipeline and then ship it abroad.
The pause, however, could affect nearly a dozen proposed projects in the United States and Mexico that, if built, could boost export capacity by another 10 billion cubic feet per day, according to research by Clearview Energy Partners, a consulting firm. Whether those projects ultimately go forward remains to be seen.
With so many projects locked in, experts say it will be crucial to ensure that methane leaks from gas production are kept as low as possible. (The Biden administration has put forward several new regulations on methane.) “This is an area where we can actually deliver an emissions win, maybe more so than delaying or even killing a future supply project,” said Ben Cahill, a senior fellow at the Center for Strategic and International Studies. “Because it’s what we do with the emissions on the projects that we know are with us today.”
Cooperate with objective and ethical thinking…
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The Fukushima nuclear accident significantly affected natural gas prices…
As Japan made the decision to shut down its nuclear plants, the subsequent surge in demand for fuel led to a significant spike in natural gas prices. This change, however, created an opening for U.S. companies to capitalize on by converting import terminals into export terminals, resulting in a remarkable increase in gas exports from the U.S. Consequently, this pivotal shift has not only brought substantial profits to oil and gas companies but has also served to bolster American influence worldwide. Despite the positive implications of this development, environmental activists have raised valid concerns about the impact of the surge in liquefied natural gas exports on global warming. By Germán & Co…
In just eight years, the United States has rocketed from barely selling any gas overseas to becoming the world’s No. 1 supplier, a remarkable shift that has profited oil and gas companies and strengthened American influence abroad. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse.
Last month, the Biden administration said it would pause the permitting process for new facilities that export liquefied natural gas in order to study their impact on climate change, the economy and national security. Even with the pause, the United States is still on track to nearly double its export capacity by 2027 because of projects already permitted and under construction. But any expansions beyond that are now in doubt. By NYT…
Artwork by Germán & CoCheck out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central recognized outstanding contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were celebrated in six articles, highlighting the community's appreciation for their valuable contributions. The platform offers industry professionals a space to display their work, engage with colleagues, and work with prominent figures. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman, showcasing their expertise. - Matt Chester, Energy Central
Picture by Germán & Co via Shuttersock"By Germán & Co...As Japan made the decision to shut down its nuclear plants, the subsequent surge in demand for fuel led to a significant spike in natural gas prices. This change, however, created an opening for U.S. companies to capitalize on by converting import terminals into export terminals, resulting in a remarkable increase in gas exports from the U.S. Consequently, this pivotal shift has not only brought substantial profits to oil and gas companies but has also served to bolster American influence worldwide. Despite the positive implications of this development, environmental activists have raised valid concerns about the impact of the surge in liquefied natural gas exports on global warming.
Interestingly, in the early 2000s, many major companies made substantial investments, to the tune of billions of dollars, in the construction of terminals designed to import natural gas from countries such as Qatar and Australia due to the scarcity of domestic natural gas. However, the landscape shifted dramatically with the advancement of fracking techniques, which granted U.S. drillers access to vast reserves of cost-effective natural gas from shale rock. This game-changing opportunity swiftly propelled the U.S. from a relatively insignificant gas exporter to the top spot as the world's leading supplier within a remarkably short span of eight years.
Therefore, it is of utmost importance to thoroughly assess and understand the environmental implications of natural gas exports, all the while ensuring a delicate equilibrium with the economic advantages they bring. Amidst the increasing investments by U.S. companies to transition import terminals into export facilities, the Biden administration's decision to temporarily pause the authorization of new liquefied natural gas export sites stands as a pivotal move in scrutinizing their effects on climate change, the economy, and national security. Nevertheless, the foreseeable future holds the prospect of the U.S. potentially doubling its export capacity by the year 2027, attributed to the continuation of ongoing approved and in-progress ventures, alongside the contemplation of further expansions.
How the U.S. Became the World’s Biggest Gas Supplier…
Picture by Germán & Co via ShuttersockTop exporters of liquefied natural gas
12 billion cubic feet per dayThe data shows the average yearly exports of liquefied natural gas by country, based on S&P Global.The New York Times article by Brad Plumer and Nadja Popovich on February 2, 2024.In just eight years, the United States has rocketed from barely selling any gas overseas to becoming the world’s No. 1 supplier, a remarkable shift that has profited oil and gas companies and strengthened American influence abroad. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse.
Last month, the Biden administration said it would pause the permitting process for new facilities that export liquefied natural gas in order to study their impact on climate change, the economy and national security. Even with the pause, the United States is still on track to nearly double its export capacity by 2027 because of projects already permitted and under construction. But any expansions beyond that are now in doubt.
At the core of the debate over whether to allow more exports is a thorny question: With governments across the globe pledging to transition away from fossil fuels, how much more natural gas does the world need?
America’s gas export boom initially caught many policymakers by surprise. In the early 2000s, natural gas was relatively scarce at home, and companies were spending billions of dollars to build terminals to import gas from places like Qatar and Australia.
Fracking changed all that. In the mid-2000s, U.S. drillers perfected methods to unlock vast reserves of cheap natural gas from shale rock. At the same time, natural gas prices began spiking elsewhere in the world, especially after Japan shut down its nuclear plants in the wake of the Fukushima reactor meltdown in 2011 and began demanding more fuel.
That led to a stunning reversal. American companies, led by Cheniere Energy, began spending billions more to convert import terminals into export terminals, and shipments of U.S. gas to other countries began to surge.
Spain declares Truman Capote Persona Non Grata…
"But Pancho, the Triangle of Love between Alexander the Great and Hephaestion is an old and deep bond, crucial in Alexander's life, despite his marriage to Aesthetira in 370 BC."The chaos unfolding within the royal chambers reverberates throughout the nation, casting a profound impact on its politics and laws. As tensions escalate, members of the royal family engage in impassioned discussions, particularly focusing on crucial political matters such as "la anmistía." Moreover, their scrutiny extends to recent developments within the EU, with unanimous disapproval voiced since yesterday. In light of recent events, the Spanish media has adopted an unprecedented new practice of self-censorship. This shift has not gone uncontested, as social media platforms such as YouTube have emerged as a counterbalance, providing alternative channels for uncensored information and opinions.
The captivating post garnered an impressive 200,000 views on "X" within the span of just one day, showcasing its widespread resonance and impact in a remarkably short timeframe. You can find the post on the given link: https://x.com/Germantoroghio/status/1752997980074922033?s=20‘Major demand growth’
Natural gas is most easily transported by pipeline. To send it across oceans, the gas must be chilled to 260 degrees Fahrenheit below zero, turning it into a liquid. The process of making and shipping liquefied natural gas adds complexity and cost, but if the difference between U.S. natural gas prices and overseas prices is big enough, it is profitable.
“It comes down to economics,” said Kenneth Medlock, senior director at the Center for Energy Studies at Rice University. “Production just keeps growing in the United States, which keeps prices low. And then we keep seeing major demand growth in the rest of the world.”
The export boom has transformed America’s role in energy geopolitics.
Where U.S. liquefied natural gas exports go?
Data is accessible until October 2023 from the Department of Energy.Europe has become the biggest importer of American gas in recent years, enabling the continent to slash by more than half its reliance on Russian gas since Russia’s invasion of Ukraine in 2022.
In the future, Europe is expected to curb its appetite for gas by adding more renewable energy sources like wind and solar power. The main growth markets for natural gas are expected to be fast-growing Asian countries such as China, India, Pakistan, Bangladesh and Vietnam that want to use the fuel for electricity, heating or industrial purposes.
But as U.S. exports keep skyrocketing, critics have raised concerns about the climate change impact of transporting and selling more gas around the world.
A complex climate question…
The last time the Energy Department studied this issue, in 2019, it concluded that U.S. liquefied natural gas often produced fewer greenhouse gas emissions than other types of coal or gas used around the world. That meant that more exports could actually be beneficial for climate change if U.S. gas replaced those other fossil fuels. (When gas is scarce, some countries like Pakistan and Bangladesh have recently opted to burn more coal instead.)
But some environmentalists have disputed those conclusions, arguing that the analysis didn’t fully account for all the planet-warming methane leaks that can accompany natural gas production, and that it didn’t study whether a glut of gas might displace cleaner renewable energy rather than coal. The Energy Department is expected to study these questions while it puts permits for new projects on hold.
In the meantime, the U.S. gas boom is far from over, even with the permitting pause that has stirred debates and discussions across the energy sector and among policymakers. Despite the temporary halt in permitting, the underlying factors driving the gas boom, including technological advancements and growing global demand, continue to provide a strong foundation for the industry's sustained growth in the foreseeable future.
U.S. will almost double its export capacity, even though permitting has paused…
The export capacity shown is based on each facility's main capacity. The start dates are only approximate.Since 2016, U.S. energy companies have built seven large facilities in Texas, Louisiana, Maryland and Georgia that can export around 11.4 billion cubic feet of liquefied natural gas per day, according to the Energy Information Administration.
Another five projects along the Gulf Coast are already permitted and under construction and will be able to export an additional 9.7 billion cubic feet per day by 2027 — nearly doubling America’s export capacity. Three more facilities are currently being built in Mexico that will receive U.S. gas by pipeline and then ship it abroad.
The pause, however, could affect nearly a dozen proposed projects in the United States and Mexico that, if built, could boost export capacity by another 10 billion cubic feet per day, according to research by Clearview Energy Partners, a consulting firm. Whether those projects ultimately go forward remains to be seen.
With so many projects locked in, experts say it will be crucial to ensure that methane leaks from gas production are kept as low as possible. (The Biden administration has put forward several new regulations on methane.) “This is an area where we can actually deliver an emissions win, maybe more so than delaying or even killing a future supply project,” said Ben Cahill, a senior fellow at the Center for Strategic and International Studies. “Because it’s what we do with the emissions on the projects that we know are with us today.”
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AES has a savvy strategy in the evolving energy sector amidst global uncertainty…
In a world of uncertainty and change in the energy sector, AES has a smart strategy to navigate the shifting landscape. The company is well-positioned to capitalize on the global move towards cleaner energy sources, thanks to its extensive project backlog and diverse global presence. AES is strategically investing in U.S. utilities, establishing a strong green hydrogen platform, and expanding carbon-free energy in specific markets. The company is making significant strides in developing renewable energy sources, phasing out coal, and aiming to increase clean energy to 79% by 2027. Under the leadership of Andrés Gluski, AES has become a key player in the global renewable energy and clean technology sectors, securing numerous contracts for renewable energy and receiving recognition for its innovative initiatives. AES has also committed to phasing out coal by 2025 and achieving net zero carbon emissions in electricity generation by 2040. With a growing portfolio of clean energy projects and a solid investment plan, AES is a strong choice for investors seeking to participate in the global clean energy transition.
Artwork by Germán & CoCheck out the article from Energy Central at www.energycentral.com for more helpful information about the changing energy industry.In December 2023, Energy Central recognized outstanding contributors in the Energy & Sustainability Network at the 'Top Voices' event. Winners were celebrated in six articles, highlighting the community's appreciation for their valuable contributions. The platform offers industry professionals a space to display their work, engage with colleagues, and work with prominent figures. Congratulations to the 2023 Top Voices: David Hunt, Germán Toro Ghio, Schalk Cloete, and Dan Yurman, showcasing their expertise. - Matt Chester, Energy Central
Andrés Gluski is the respected CEO of AES, a well-known international energy company operating on several continents and dedicated to creating new and eco-friendly energy solutions.
Mackenzie's 2023 report warns about upcoming global energy challenges...
The report analyses various scenarios illustrating the energy transition's uncertainties and complexities, which are influenced by technological advancements, geopolitical risks, and changing consumer behaviours. Developing investment strategies that can adapt to various potential outcomes is challenging due to the unpredictability.
The report examines the supply and demand of energy commodities within a 1.5° pathway and presents four energy transition scenarios based on different assumptions.
Despite significant reductions in carbon emissions, all scenarios still exceed the 1.5°C pathway, resulting in a temperature increase ranging from 1.6°C to 2.9°C.
Achieving substantial reductions in emissions is imperative to remain within the carbon budget. According to projections, there will be a significant decrease in coal demand by 2030, while natural gas and oil demand are expected to increase.
By 2050, solar energy is expected to be the leading source of power generation, followed by wind energy, with renewable energy dominating the sector. The report highlights that renewable energy expansion is projected to significantly reduce emissions from power generation by 2050 despite facing challenges, such as supply chain issues and slow permitting processes.
To achieve this expansion, substantial investments in the energy sector are necessary, with a gradual transition from fossil fuels to green technologies and electric transmission and distribution. It is important to note that the language used in the report is clear, objective, and value-neutral, with a formal register and precise word choice.
The structure of the text is logical, with causal connections between statements and clear idea progression. The energy transition encounters various challenges, including land availability, energy infrastructure, manufacturing capacity, consumer affordability, investment willingness, and material availability.
Overcoming these obstacles is crucial for achieving ambitious global climate goals. Despite uncertainties, the energy transition is well underway, and organizations must develop resilient strategies to adapt to future scenarios.
Spain declares Truman Capote Persona Non Grata…
"But Pancho, the Triangle of Love between Alexander the Great and Hephaestion is an old and deep bond, crucial in Alexander's life, despite his marriage to Aesthetira in 370 BC."The chaos unfolding within the royal chambers reverberates throughout the nation, casting a profound impact on its politics and laws. As tensions escalate, members of the royal family engage in impassioned discussions, particularly focusing on crucial political matters such as "la anmistía." Moreover, their scrutiny extends to recent developments within the EU, with unanimous disapproval voiced since yesterday. In light of recent events, the Spanish media has adopted an unprecedented new practice of self-censorship. This shift has not gone uncontested, as social media platforms such as YouTube have emerged as a counterbalance, providing alternative channels for uncensored information and opinions.
The captivating post garnered an impressive 200,000 views on "X" within the span of just one day, showcasing its widespread resonance and impact in a remarkably short timeframe. You can find the post on the given link: https://x.com/Germantoroghio/status/1752997980074922033?s=20AES has a clever plan in the changing energy industry during worldwide uncertainty…
The company is well-positioned to benefit from the global shift to cleaner energy sources given its significant backlog of projects and unique global geographic diversification.
AES strategically invests in U.S. utilities, establishes a prominent green hydrogen platform, and expands carbon-free energy in specific markets. The company is making significant progress in developing renewable energy sources, phasing out coal, and increasing the proportion of clean energy to 79% by 2027.
Andrés Gluski has been serving as the President and CEO of The AES Corporation since 2011, leading the company to become a prominent player in the global renewable energy and clean technology sectors. According to Bloomberg New Energy Finance (BNEF), AES has secured the highest number of contracts for renewable energy with corporations worldwide in 2021 and 2022.
Additionally, the company has received seven Edison Electric Institute (EEI) awards for its innovative initiatives. Its joint venture with Siemens, Fluence, has consistently been recognized as a leading integrator of large-scale energy storage. In 2018, AES implemented an ambitious carbon reduction strategy, becoming the first U.S. energy company to issue a climate report by the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
Furthermore, AES has announced its intention to phase out coal usage by 2025 and achieve net zero carbon emissions in electricity generation by 2040.
Andrés Gluski has been recognized as one of the '100 Most Influential Latinos' by Latino Leaders Magazine since 2017 and holds leadership positions in such organizations as the Council of the Americas/Americas Society and the Executive Committee of the EEI Board of Directors. He holds a Master of Arts and a Ph.D. in Economics from the University of Virginia.
With the growing backlog of clean energy projects and an extended timeframe for capital investment plans, AES emerges as a robust choice for investors looking to engage in a global clean energy transition.
Although AES is not exclusively focused on clean energy, it actively seeks opportunities to transition to cleaner alternatives, making it an appealing choice for investors.
The Davos Man no longer prioritizes climate change…
AES makes the difference…
Regardless of the official agenda at Davos—also known as the annual meeting of the World Economic Forum in Davos, Switzerland—one notable absence is the town of Davos itself. While we enjoy discussing the events there, our interest in discussing the significance of Davos is even greater.
Regrettably, the consensus from this year's Davos meeting is that the previous sense of urgency regarding climate change has diminished. Oumarou Ibrahim, an activist from Chad, expressed dissatisfaction with the lack of discussion on climate, biodiversity, and the environmental crisis.
In an interview with David Gelles of The New York Times, he stated that it is unacceptable. Gelles received similar communication from Andres Gluski, the CEO of AES, a United States-based energy corporation that has shown a commitment to renewable energy in recent years.
"I believe there is a level of fatigue associated with the climate crisis," stated Gluski.
AES named in Fortune's World's Most Admired Companies…
Once considered disruptors on the fringes of the global economy, big tech and energy companies have risen to become the driving force at its very core. The 26th edition of Fortune World's Most Admired Companies All-Stars list shines a spotlight on the immense respect and influence these industry behemoths hold among their peers. Apple has once again solidified its position at the apex of our annual corporate reputation ranking for the 17th consecutive year, based on a comprehensive survey of approximately 3,700 executives, directors, and analysts, marking its fifth consecutive year at the summit. The enduring dominance and influence of these corporations underscores their pivotal role in shaping the contemporary business landscape. Moreover, to add to the accolades, AES has been honored by Fortune magazine as one of the World's Most Admired Companies this week.