Coronavirus - EU: Frustration at EU summit on slow vaccination - by Eszter Zalan

A sluggish start to the vaccine roll-out has cast a long shadow on the online meeting of EU leaders, who on Thursday (25 March) discussed the bloc's vaccine strategy.

There has been a muted backing for the EU Commission's plans to tighten export rules, as the bloc wants to make sure pharmaceutical companies, particularly AstraZeneca, deliver on their EU contracts before exporting.

Leaders also resisted Austrian chancellor Sebastian Kurz's efforts to redistribute vaccines at the summit, which Kurz argued had been unevenly spread among member states.

Read more at: Frustration at EU summit on slow vaccination

EU - Summit Coronavirus Bailout Fund: Spanish vs Dutch views on the EU Recovery Fund - by Monika Sie Dhian Ho and Charles Powell

Dutch PM Mark Rutte being stingy

The Netherlands and Spain are at opposite ends of the debate about the EU's recovery package. But they must realise they are in the same boat.

The Covid-19 pandemic has triggered an unprecedented recession in Europe which has hit the EU at a delicate moment. It could be the toughest test for European integration yet. A strong, fast and coordinated, response is essential.

The European Central Bank has deployed an unprecedented asset-purchase programme, the European Commission has for the first time ever lifted restrictions on fiscal expansion and state aid, and the Eurogroup agreed new European Stability Mechanism credit lines, emergency measures to support those unemployed, and new funds for the European Investment Bank. Now it is time for the heads of state and government to rise to the challenge

The internal market, the monetary union and the Schengen travel zone are at risk, and populist anti-EU voices stand ready to exploit disagreements that have emerged among member-states.

A piece of unfinished business is the so-called EU Recovery Fund.

It is based on a Commission proposal, and is integrated into the EU's draft seven-year budget. It would allow for investment in the EU of almost two trillion euros, some of it in the form of debt issued by the Commission.

The sooner a deal is reached, the quicker the money can be The sooner a deal is reached, the quicker the money can be released and the faster the recovery will be.

Read more: 
Spanish vs Dutch views on the EU Recovery Fund

EU Summit: Migrant Processing, Cooperation: as EU Members reach a deal on migrants early Saturday 29/6 morning

'Italy is not alone anymore': EU leaders reach agreement on migrant processing

Read full report at::

CBC News Report EU Migrant deal

Shared via the CBC News Android App

North-Korea - US Summit: Full text of the U.S.-North Korea agreement signed by Trump and Kim

President Donald Trump and North Korean leader Kim Jong Un signed an agreement after their nuclear summit on Singapore on Tuesday. Here's the full text of the document, as released by the White House.

President Donald J Trump of the United States of America and Chairman Kim Jong Un of the State Affairs Commission of the Democratic People’s Republic of Korea (DPRK) held first historic summit in Singapore on June 12, 2018.

"President Trump and Chairman Kim Jong Un conducted a comprehensive in-depth and sincere exchange of opinions on the issues related to the establishment of new US-DPRK relations and the building of a lasting an robust peace regime on the Korean Peninsula. President Trump committed to provide security guarantees to the DPRK, and Chairman Kim Jong Un reaffirmed his firm and unwavering commitment to complete denuclearization of the Korean peninsula.

Convinced that the establishment of new US-DPRK relations will contribute to the peace and prosperity of the Korean peninsula and of the world, and recognizing that mutual confidence building can promote the denuclearization of the Korean Peninsula, President Trump and Chairman Kim Jong Un state the following:

1. The United States and the DPRK commit to establish new US-DPRK relations in accordance with the desire of the peoples of the two countries for peace and prosperity
2. The United States and the DPRK will join their efforts to build a lasting and stable peace regime on the Korean Peninsula
3. Reaffirming the April 27, 2018 Panmunjom Declaration, the DPRK commits to work toward complete denuclearization of the Korean Peninsula
4. The United States and the DPRK commit to recovering POW/MIA remains, including the immediate repatriation of those already identified.

Having acknowledged that the US-DPRK summit — the first in history — was an epochal event of great significance in overcoming decades of tensions and hostilities between the two countries and for the opening up of a new future, President Trump and Chairman Kim Jong Un commit to implement the stipulation in this joint statement fully and expeditiously.

The United States and the DPRK commit to hold follow-on negotiations, led by the US Secretary of State, Mike Pompeo, and a relevant high-level DPRK official, at the earliest possible date, to implement the outcomes of the US-DPRK summit.

President Donald J Trump of the United States of America and Chairman Kim Jong Un of the State Affairs Commission of the Democratic People’s Republic of Korea have committed to cooperate for the development of new US-DPRK relations and for the promotion of peace, prosperity, and security of the Korean Peninsula and of the world".

Note EU-Digest: Apart from being a PR Photo-Op; for a ruthless oppressive dictator, who has killed not only many of his own citizens, but also family members, and an ego-maniac President, this so-called "agreement" basically only reaffirms earlier US -North Korea agreements, and certainly does not deserve for Mr. Trump to get a Nobel Peace prize.

Read more: Full text of the U.S.-North Korea agreement signed by Trump, Kim

Global Warming: World Bank won't back oil and gas projects after 2019

The World Bank has confirmed that it will stop financing upstream oil and gas projects after 2019 except under exceptional circumstances in the world's poorest countries.

The global financial institution made the announcement at climate summit in Paris on Tuesday, which took place roughly two years after the historic COP21 climate conference in the same city.

At Tuesday's summit, French insurance giant AXA announced that it will cease insuring the oilsands sector and new coal projects, and will divest more than US$3.5 billion from oilsands and coal companies. This includes divestment from energy giants TransCanada, Kinder Morgan and Enbridge, all of which have Canadian offices and are constructing major pipelines: Keystone XL, the Trans Mountain expansion and Line 3, respectively.

The announcements were among highlights of a one-day "One Planet Summit" attended by about 50 world leaders and 2,000 participants, including Canada and Quebec environment ministers, environmental organizations, business officials and public figures such as actor Sean Penn.

The goal was to find financial solutions to phase out fossil fuel subsidies and allocate more money to help developing countries that will help their transition to low-carbon economies in the fight against climate change.

“We’re determined to work with all of you to put the right policies in place, get market forces moving in the right direction, put the money on the table, and accelerate action,” World Bank president Jim Young Kim told the closing plenary.

Conference co-organizers, including the Government of France, the World Bank and the United Nations, called in advance of the summit for “concrete action” to reignite momentum as the United States remains absent from the historic Paris Agreement on climate change. Reached in December 2015, the accord aims to keep global warming below 2°C this century.

“We are losing the battle,” French President Emmanuel Macron told participants. “The agreement has become fragile and we’re not going fast enough.”

Several financially stable countries and multilateral institutions made important pledges to help developing countries meet their commitments under the 2009 Copenhagen Accord on climate action.

That roadmap calls for the world to raise US$100-billion every year to help such countries meet their emissions goals by 2020. Last year however, the OECD estimated that only US$43 billion had been pledged, including $2.65 billion in funding from the Government of Canada by 2021

The absence of the United States remained bittersweet and disappointing for most participants, including California Governor Jerry Brown and former United Nations secretary-general Ban Ki-moon, who talked about U.S. President Donald Trump’s “irresponsible” decision to withdraw from the Paris Agreement.

But former New York mayor and businessman Michael Bloomberg said he thought it had increased momentum.

“There isn't anything Washington can do to stop us, quite the contrary, I think that President Trump has helped rally people who understand the problem to join forces and to actually do something rather than waiting for the federal government to do something,” Bloomberg said at a press conference.

Bloomberg and several other major economic leaders, including Bank of England governor Mark Carney, announced 237 companies worth more than $6.3 trillion had committed to participate in a wide-reaching Task Force on Climate-Related Financial Disclosures.

The task force aims to gather reliable data about the environmental metrics of its members, such as the carbon footprint of their operations.

According to the task force, only 20 per cent of major companies are currently reporting this kind of data. Bloomberg and his partners want to change that so CEOS, board members and shareholders can make informed decisions about their management practices and investment.

“Nobody would survive a board meeting where they said, 'I don't know that this risk is going to happen so let's just sit around and do nothing,'" said Bloomberg.

One of the task force members is AXA, the world’s third largest insurance company.

Canadian Environment Minister Catherine McKenna was among the world leaders who said private sector involvement in climate financing is urgent in the race against environmental catastrophe.

“We need to be smarter about this. We have to stop the old school way of thinking where governments are going to take actions,” she said at a panel. “We're missing a lot if we don't leverage the private sector.”

Responding to McKenna's comments however, Environmental Defense national program manager Dale Marshall emphasized that public financing will always be necessary.

“It's really hard to leverage private sector dollars to do adaptation work and that's really where governments need to step in with public money,” Marshall told National Observer.

Pembina Institute federal policy director Erin Flanagan made similar comments. National transitions to a low-carbon economy should be led by governments, she explained, and public policy must create a clear and assertive framework for the private sector, so it understands how it can support the green transition.

“If industry knows that the government is serious about achieving emissions neutrality by 2050, they will be less likely to build gas plants, they will be less likely to build new oil sands operations,” she told National Observer at the summit. “I think we still have a way to go at home to make sure that that consensus on the deadline is well developed.”

Meantime, McKenna unveiled a partnership with the World Bank to support developing countries’ transition away from traditional coal-fired electricity and toward clean energy. A press release said the parties would share best practices "on how to ensure a just transition for displaced workers and their communities."

The partnership announcement came just as a Canadian and German environmental organizations released a report listing six Canadian financial companies among the world's top 100 investors in new coal plants. Friends of the Earth and Urgenwald looked at the top 100 private investors putting money down to expand coal-fired electricity — sometimes in places where there isn't any coal-generated power at the moment.

Together, Sun Life, Power Corporation, Caisse de depot et placement du Quebec, Royal Bank of Canada, Manulife Financial and the Canada Pension Plan Investment Board have pledged $2.9 billion towards building new coal plants overseas, the report said.

Urgewald tracks coal plants around the world and reports there are 1,600 new plants in development in 62 nations, more than a dozen of which don't have any coal-fired plants now.

Read more: World Bank won't back oil and gas projects after 2019 | National Observer