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OECD | COVID-19 pandemic highlights urgent need to scale up investment in lifelong learning for all

Countries must step up their efforts to enable people to continue learning throughout their lives to navigate a rapidly changing world of work shaped by globalisation and the consequences of the COVID-19 pandemic, according to a new OECD report.
OECD Skills Outlook 2021: Learning for Life says that public policies should play a key role in facilitating effective and inclusive lifelong learning, but much remains to be done.
It will be crucial to invest part of the resources devoted to the recovery to lifelong learning programmes, involving all key stakeholders and with a focus on vulnerable groups, particularly young people, the NEET (neither in employment, education or training) and those whose jobs are most at risk of transformation, says the report.
“It’s essential that lifelong learning becomes a reality for everyone since the crisis has further accelerated the transformation in our economy and skills needs. Today, too many adults do not participate in workplace learning and the pandemic has further reduced their opportunities to do so,” said OECD Secretary-General Mathias Cormann, launching the report in Paris. “In the recovery efforts, skills will make the difference between staying ahead of the curve or falling behind in a world in constant flux. Countries need to invest part of the resources devoted to the recovery to lifelong learning programmes, involving all key stakeholders and with a specific focus on vulnerable groups – including young people, women and workers whose jobs are most at risk of transformation. ”
Even before the pandemic, only two out of ten low-educated adults took part in formal or on-the-job training, compared to six out of ten high-educated adults. Participation in adult learning also differs greatly across countries: fewer than 25% of adults in Greece, Italy, Mexico and Turkey report participating in adult learning, compared to over 55% in Denmark, Finland, New Zealand, Norway and Sweden.
The pandemic may also affect the learning attitude of children and youth. The disruptions to regular schooling led many children to progress less than expected in skill development. In the short term, the pandemic could lead to increases in early school leavers. In the medium and long term, lower engagement could result in the current generation of students failing to develop positive learning attitudes, at a time of profound structural changes that will require individuals to upgrade their skills throughout their life, warns the report. Furthermore, the report identifies potential cause of gender inequality in training opportunities. Up to 28% of “inactive but motivated” women mention family obligations as a barrier to participating in training, compared to only 8% of men. The gender gap widens when children appear in the family.
To enable more people to continue learning and updating their skills, the report says countries should focus on three key issues:

Place learners at the centre of learning: diversified learning opportunities can enhance the quality of education and training. Policy design must be inclusive, affordable, accessible and adaptable.

Skills for a lifetime: lifelong learning rests on strong foundation skills, such as literacy and numeracy, the willingness to learn, and a habit of learning. Policies should harness the power of technology while also considering the effects technology can have on existing skills inequalities and the creation of new ones.

Strong co-ordination for high quality, inclusive learning: policies should build strong co-ordination, knowledge management and information sharing to bring lifelong learning to the required scale. Policies should aim at improving recognition, validation and accreditation procedures to enhance the visibility and transferability of the skills taught in these programmes.

The report is available at https://www.oecd.org/education/oecd-skills-outlook-e11c1c2d-en.htm.
For more information, journalists should contact Francesca Borgonovi of the OECD’s Centre for Skills or the OECD Media Office (tel. + 33 1 45 24 97 00).
Working with over 100 countries, the OECD is a global policy forum that promotes policies to preserve individual liberty and improve the economic and social well-being of people around the world
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EU-Canada summit, Brussels, 14 June 2021

Main results
The 18th EU-Canada summit took place in Brussels on 14 June 2021. Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission, represented the EU. Canada was represented by Prime Minister Justin Trudeau.
The leaders discussed how to work together to end the COVID-19 pandemic and pursue a sustainable, people-centred and inclusive recovery. They reaffirmed their ambitious commitments on fighting climate change and protecting the environment, and their determination to promote democratic values, peace and security.
They also launched a new Canada-EU dialogue on health, an Ocean Partnership Forum and an EU-Canada Strategic Partnership on Raw Materials.
Following the summit the leaders issued a joint statement.

EU-Canada joint statement, 15 June 2021
Remarks by President Charles Michel following the 18th EU-Canada summit

“Defeating COVID-19 remains our top priority. The EU is the largest exporter of vaccines — we have exported roughly half of the vaccines we have produced. We have supported Canada’s vaccination campaign by shipping roughly 16 million doses to Canada. This represents 60% of all vaccines received by Canada.”
President Charles Michel

Infographic – COVID-19: the EU’s contribution to global vaccine solidarity
See full infographic

Ending the COVID-19 pandemic and driving a sustainable global recovery
The leaders committed to stepping up multilateral efforts to help ensure universal, equitable and affordable access to COVID-19 vaccines, diagnostics and treatments through the Access to COVID-19 Tools Accelerator. They welcomed the G7 commitment to share at least 870 million vaccine doses directly over the next year, targeting those in the greatest need.

EU’s international solidarity during the COVID-19 pandemic (background information)
G7 summit, Cornwall, UK, 11-13 June 2021

The leaders also welcomed the scaling-up of manufacturing capacities in order to increase and diversify the supply of COVID-19 vaccines while maintaining open and secure supply chains.
The EU and Canada will coordinate efforts to strengthen the World Health Organization (WHO) and the global health security architecture in general to be better prepared for future pandemics.

“I welcome Prime Minister Trudeau’s support for an international treaty on pandemics in the framework of the WHO.”
President Charles Michel

To enhance bilateral collaboration on pandemic preparedness, the leaders launched a new Canada-EU dialogue on health under the EU-Canada strategic partnership agreement (SPA).

EU-Canada strategic partnership agreement (EEAS)

The leaders agreed to steer the global recovery towards green, innovative, inclusive and resilient economies and the creation of decent jobs. Another common objective is to make global supply chains more resilient and sustainable.
Furthermore, the leaders will seek a consensus-based solution as regards a reform of the international tax architecture by mid-2021 within the OECD, in line with G7/G20 commitments.
They also agreed to resume travel between the EU and Canada as soon as this can be done safely.
Fighting climate change and protecting the environment
Recognising the urgency and the interlinked nature of the challenges posed by climate change and biodiversity loss, the leaders stressed the need to step up global action and provide more coordinated responses.
The EU and Canada are determined to reach the most ambitious outcome possible at the upcoming 26th UN Climate Change Conference (COP26) to keep the world on track to achieve the goals of the Paris Agreement.
Aiming to lead by example in becoming climate-neutral economies by 2050, the EU and Canada will fully and swiftly implement their enhanced 2030 emissions reduction targets/Nationally Determined Contributions (NDCs).
The two sides will strengthen their collaboration on promoting measures and technologies to support a just energy transition. They remain committed to scaling up efforts to meet the climate finance goal of $100 billion per year goal through 2025, and to scaling up their financial contribution to climate adaptation action.

Climate change: what the EU is doing (background information)

The leaders agreed to pursue the adoption of an ambitious global framework to conserve, protect and restore biodiversity at the next UN Biodiversity Conference (COP 15) and ambitious outcomes at the UN Food Systems Summit, with a view to leading a global transformation towards sustainable food systems.
The EU and Canada will step up cooperation and multilateral action on the circular economy, the efficient use of natural resources and the sound management of chemicals and waste. They will also work towards a new global treaty on plastics, including to combat ocean plastic pollution. In this context, the leaders launched an Ocean Partnership Forum under the EU-Canada Ocean Partnership Declaration.

Infographic – Comprehensive Economic and Trade Agreement (CETA) fuels EU-Canada trade growth
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Harnessing the potential of trade, technology and innovation
The leaders reaffirmed their strong support for the rules-based multilateral trading system and the indispensable role played by the World Trade Organization (WTO). They agreed to work together to strengthen and modernise the WTO, including through close cooperation in the Ottawa Group of like-minded countries.
They welcomed the positive results achieved by the provisional application of the Comprehensive Economic and Trade Agreement (CETA) and remain strongly committed to ensuring its full and effective implementation.

“This year we celebrate the 5th anniversary of the signing of CETA. This agreement is good for our citizens, for our businesses and for our economic recovery.”
President Charles Michel

EU-Canada trade (European Commission)

To diversify sources of important green and digital economy inputs away from less like-minded producers, and to foster competitive EU-Canada supply chains, the leaders established an EU-Canada Strategic Partnership on Raw Materials.
The EU and Canada will deepen digital cooperation through the Canada-EU Digital Dialogue and the Global Partnership on Artificial Intelligence (GPAI), leveraging digital tools to promote a sustainable post-COVID-19 recovery. To ensure that the Internet remains free, secure and open, the EU and Canada jointly support global standards for and regulatory approaches to digital trade and technologies.
Cooperation between the two sides will also be enhanced in other key areas, including the Horizon Europe research programme, higher education, hydrogen, artificial intelligence, quantum technology and space.
Promoting democratic values, peace and security
The EU and Canada will continue to cooperate closely on promoting international peace and security and their shared values, including defending human rights, gender equality, media freedom, liberal democracy, the rule of law and the rules-based international order.
They will work closely together to address common concerns and challenges faced in relations with China and Russia, and discuss engaging with these countries where that is possible and in the EU’s and Canada’s respective interests.
The leaders warmly welcomed the invitation received by Canada to participate in the PESCO Military Mobility project. Alongside the US and Norway, Canada will be among the first non-EU countries to participate in the project, representing another important step towards closer EU-Canada partnership in security and defence.
The leaders reaffirmed their support for Ukraine’s territorial integrity and for the Belarusian people’s calls for a democratic and just Belarus. They also resolved to further deepen cooperation and dialogue on key regional issues, including in relation to the Middle East, the Eastern Mediterranean, the Indo-Pacific, Myanmar, Iran/JCPOA, Africa (particularly the Sahel region) and Venezuela.
Finally, the leaders reaffirmed their determination to strengthen their cooperation on matters pertaining to the Arctic, and to conclude a new EU-Canada Passenger Name Record (PNR) Agreement as soon as possible.
Background
EU-Canada relations are underpinned by a Strategic Partnership Agreement (SPA) and a Comprehensive Economic and Trade Agreement (CETA). Provisionally applied since April 2017, these agreements have greatly boosted both sides’ economies and led to an ever closer partnership between the EU and Canada.
Compliments of the Council of the European Union and the European Council.
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EU-US summit, Brussels, 15 June 2021

Main results
The EU-US summit on 15 June 2021 marked the beginning of a renewed transatlantic partnership and set a joint agenda for EU-US cooperation in the post-pandemic era. The leaders committed to regular dialogue to take stock of progress.
Key summit deliverables include three major new trade initiatives. The leaders agreed to:

create a Cooperative Framework for Large Civil Aircraft
engage in discussions to resolve differences on measures regarding steel and aluminium by the end of the year
establish an EU-US Trade and Technology Council

Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission, represented the EU. President Joe Biden represented the United States. It was the first EU-US summit since 2014 and the first visit by a US President to the EU institutions since 2017.
At the end of the summit, the leaders adopted a joint statement.

EU-US summit statement: “Towards a renewed Transatlantic partnership”
Remarks by President Charles Michel following the EU-US summit in Brussels, 15 June 2021

COVID-19, health preparedness, sustainable global recovery

Infographic – COVID-19: the EU’s contribution to global vaccine solidarity
See full infographic

We want to send COVID-19 to the history books, and there is only one way: international cooperation. We must deliver on this, by making sure that the world’s population has access to vaccines.
President Charles Michel

The EU and the US committed to continuing to support the COVAX Facility and encourage more donors to make two billion vaccine doses available worldwide by late 2021. They aspire to provide enough vaccine doses to inoculate two-thirds of the world’s population by the end of 2022.
The leaders highlighted the creation of a Joint EU–US COVID Manufacturing and Supply Chain Taskforce. Its objective is to expand vaccine and therapeutics production capacity by:

building new production facilities for vaccines and therapeutics
maintaining open and secure supply chains
avoiding any unnecessary export restrictions
encouraging voluntary sharing of know-how and technology

The EU and the US will reinforce cooperation on reforming the World Health Organization (WHO). The leaders welcomed the idea of assessing the benefits of developing a WHO convention, agreement or other international instrument on pandemic preparedness and response.

Learning the lessons from COVID also means learning how to prepare for future pandemics and health crises. We discussed a possible treaty on pandemics.
President Charles Michel

The leaders also called for progress on a transparent, evidence-based, expert-led and WHO-convened phase-2 study on the origins of COVID-19 that is free from interference.
The leaders welcomed G7 discussions on building back better for the world, orienting development finance tools towards challenges such as creating resilient infrastructure and technologies, and addressing the impact of climate change.

G7 summit, Cornwall, UK, 11-13 June 2021

The EU and the US intend to jointly drive forward a sustainable and inclusive global recovery, in line with the UN 2030 Agenda for Sustainable Development. They will continue providing assistance to countries in need, address debt vulnerabilities and stimulate domestic reforms and increased private investment.
The leaders agreed to establish a joint EU-US experts’ working group for the resumption of non-essential safe and sustainable travel between the EU and the United States.
They welcomed the progress made in discussions on additional EU member states benefitting from visa-free travel to the US, and agreed to continue this dialogue.
Protecting our planet and fostering green growth
The EU and the US are committed to the Paris Agreement and its effective and strengthened implementation. To provide an effective platform for cooperation in this regard, the leaders committed to establishing an EU-US High-Level Climate Action Group.

We intend to lead by example by becoming net-zero greenhouse gas economies by no later than 2050 and implementing our respective enhanced 2030 targets / Nationally Determined Contributions (NDCs). We resolve to engage with our international partners to achieve an ambitious outcome at the 26th UN Climate Change Conference of the Parties (COP26), making every effort to keep a 1.5-degree limit on global temperature within reach.
EU-US summit statement

The leaders committed to rapidly scaling up technologies and policies that further accelerate the transition away from unabated coal capacity and to an overwhelmingly decarbonised power system in the 2030s, consistent with the EU’s and the US’s respective 2030 NDCs and 2050 net-zero commitments.
The leaders resolved to increase their cooperation on transition towards a climate-neutral, resource-efficient and circular economy. They intend to work towards a Transatlantic Green Technology Alliance that would foster cooperation on the development and deployment of green technologies, as well as to promote markets to scale such technologies.

Climate change: what the EU is doing (background information)

The EU and the US are very determined to halt and reverse biodiversity loss by 2030 and take urgent action to address its drivers. The leaders committed to the goal of conserving or protecting at least 30% of global land and 30% of global oceans by 2030. They share the goal of jointly promoting a successful and ambitious post-2020 global biodiversity framework at the 15th UN Biodiversity Conference of the Parties (COP15). Furthermore, the leaders committed to working together to protect the world’s oceans, including by combating marine litter.
Strengthening trade, investment and technological cooperation
The EU and the US have the largest economic relationship in the world. They are committed to growing their bilateral trade and investment relationship and to upholding and reforming the rules-based multilateral trading system. The leaders said they intended to use trade to help fight climate change, protect the environment, promote workers’ rights, expand resilient and sustainable supply chains and create decent jobs.

Infographic – EU-US trade
See full infographic

We resolve to stand together to protect our businesses and workers from unfair trade practices, in particular those posed by non-market economies that are undermining the world trading system.
EU-US summit statement

To provide an effective platform for cooperation, the leaders established a high-level EU-US Trade and Technology Council (TTC). The TTC’s objectives include:

growing the bilateral trade and investment relationship
avoiding new unnecessary technical barriers to trade
strengthening global cooperation on technology, digital issues and supply chains
cooperating on compatible and international standards development
facilitating regulatory policy
promoting innovation and leadership by US and European firms

Under the TTC, both partners commit to building an EU-US partnership on the rebalancing of global supply chains in semiconductors, with a view to enhancing security of supply in the EU and the US and boosting both partners’ capacity to design and produce the most powerful and resource-efficient semiconductors.
In parallel with the TTC, the EU and the US intend to establish an EU-US Joint Technology Competition Policy Dialogue that would focus on approaches to competition policy and enforcement, and increased cooperation in the tech sector.
The summit also delivered the prospect of resolving long-standing trade disputes.

The leaders welcomed having reached an Understanding on a Cooperative Framework for Large Civil Aircraft, reflecting a new transatlantic relationship in this area.
The leaders also agreed to engage in discussions to allow the resolution of existing differences on measures regarding steel and aluminium before the end of the year

Moreover, the EU and the US are determined to foster a fair, sustainable and modern international tax system and cooperate to reach a global consensus by mid-2021on the question of taxation of multinational companies within the OECD.
The leaders also agreed to work cooperatively on efforts to achieve a meaningful reform of the World Trade Organization (WTO). This involves advancing the proper functioning of the WTO’s negotiating function and dispute settlement system, which will require long-standing issues to be addressed.

EU and US take decisive step to end aircraft dispute (European Commission)

Building a more democratic, peaceful and secure world
Together, the EU and the US are an anchor for democracy, peace and security around the world. They are united in their desire to peacefully prevent and resolve conflicts, uphold the rule of law and international law, and promote human rights for all, gender equity and equality, and the empowerment of women and girls. The two partners intend to support democracy across the globe, including by defending media freedom, advancing a free and open internet, fostering responsible behaviour in cyberspace and tackling disinformation.
The leaders resolved to lead by example at home, and to partner in the Summit for Democracy, committing to concrete actions to defend universal human rights, prevent democratic backsliding and fight corruption.
The EU and the US intend to closely consult and cooperate on the full range of issues regarding China, which include elements of cooperation, competition, and systemic rivalry. They intend to continue coordinating on their shared concerns, including ongoing human rights violations in Xinjiang and Tibet, the erosion of autonomy and democratic processes in Hong Kong, economic coercion, disinformation campaigns and regional security issues.

We remain seriously concerned about the situation in the East and South China Seas and strongly oppose any unilateral attempts to change the status quo and increase tensions. We underscore the importance of peace and stability across the Taiwan Strait and encourage the peaceful resolution of cross-Strait issues.
EU-US summit statement

The EU and the US also intend also to coordinate on their constructive engagement with China on issues such as climate change and non-proliferation, and on certain regional matters.
The EU and the US stand united in their principled approach towards Russia. They are ready to respond decisively to its repeating pattern of negative behaviour and harmful activities. The leaders agreed to establish an EU-US high-level dialogue on Russia to coordinate our policies and actions in this regard.
The leaders also addressed a wide range of other pressing geopolitical, foreign policy and security issues of common concern.
They expressed their determination to continue to stand in support of the sovereignty, independence and territorial integrity of the EU’s Eastern partners, and to support the reform path of Ukraine, Georgia and the Republic of Moldova. They resolved to work towards long-term peace, resilience and stability in the South Caucasus.
The EU and the US stand with the people of Belarus and their demands for human rights and democracy.

We resolve to hold the Lukashenka regime to account for its escalating attacks on human rights and fundamental freedoms, and for endangering aviation safety through the unprecedented and unacceptable forced diversion of an EU passenger airplane under false pretences, and the subsequent arrest of a journalist as part of a continuing assault on opposition voices and the freedom of the press.
EU-US summit statement

Moreover, the EU and the US intend to further strengthen their joint engagement in the Western Balkans, and resolved to work hand-in-hand for sustainable de-escalation in the Eastern Mediterranean, where differences should be settled through dialogue in good faith and in accordance with the international law of the sea. The EU and the US also aim to establish a cooperative and mutually beneficial relationship with a democratic Turkey.
The leaders welcomed the ceasefire in the conflict in the Middle East and expressed their grave concern about the political, human rights, security and humanitarian situation in Ethiopia, Somalia and the Sahel countries, in particular about the growing political and ethnic polarisation throughout Ethiopia that threatens the country’s sovereignty and territorial integrity. The leaders also discussed specific financial and development support for African countries.
They also discussed the situations in the Indo-Pacific, Myanmar, Afghanistan, Latin America and the Caribbean, and in particular Venezuela, and resolved to work together to maintain the Arctic as a region of peace and stability.
The leaders emphasised their support for the ongoing diplomatic efforts and negotiations in Vienna aimed at facilitating the return of the US to the Joint Comprehensive Plan of Action (JCPOA), as well as the full and effective implementation of the deal by Iran and the US.
Finally, the leaders welcomed the EU’s invitation to the US to join the PESCO Military Mobility project as an important step towards a closer EU-US partnership in security and defence. The leaders committed to working towards an Administrative Arrangement for the US with the European Defence Agency, and agreed to work together to raise the level of NATO-EU ambition to further strengthen this mutually reinforcing key strategic partnership.
Compliments of the Council of the EU and the EU Council.
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FTC | Back to Business #2: Slamming the office door on B2B COVID scams

You have to say this about scammers: They’re up on current events. As early as February 2020, con artists were already using the coronavirus as a hook for swindles and scams and the FTC was sounding an alert for consumers. It didn’t take long before scammers targeted businesses, too. Now that many companies are returning to an in-person workplace, some fraudsters will try to take advantage of the transition. As you get back to business, keep your guard up against these forms of B2B deception.
Spot the signs of an imposter scam. Since the beginning of the pandemic, the FTC has received reports of con artists using telemarketing, email, and even bogus apps to impersonate government employees or public health officials. Now we’re hearing about “vaccine certificate” scams. What’s the modus operandi? They contact businesses and consumers out of the blue with official-sounding – but false – information about so-called national vaccine certificates, “passports,” or “verification apps.” Their real purpose is to grab money or personal information. The FTC has tips on spotting this form of fraud and advice on strengthening your defenses against imposter scams.
Stick with suppliers you know or who come recommended by people you trust. This time last year companies were scrambling for masks, disinfectants, and other essentials. When businesses ordered from unfamiliar websites that promised fast shipping of scarce products, they often found themselves with emply hands and empty wallets. As manufacturers gear up and offices reopen, some industries are reporting shortages of raw materials – conditions that are conducive for supply chain scams. The wiser course is to stick with suppliers who have proven to be reliable in the past or who come recommended by trustworthy colleagues.
Alert your staff to unemployment benefits fraud. Throughout the pandemic, the FTC has asked public-spirited businesses and consumers to contact us at ReportFraud.ftc.gov about suspicious practices you’ve spotted. Those reports cast a spotlight on phony unemployment benefits applications that crooks had filed using the names, dates of birth, and Social Security numbers of people who had not lost their jobs. It’s affected tens of thousands of people and has cost states hundreds of millions of dollars. What can you do? If an employee suspects their personal information has been compromised in this way, report it online to the appropriate state unemployment insurance office(link is external) and suggest they visit identitytheft.gov for step-by-step guidance.
Compliments of the U.S. Federal Trade Commission.
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UN Security Council: Speech by the HR/VP Josep Borrell

Check against delivery!
Ambassadors, ladies and gentlemen,
1.  The 2021 geopolitical landscape
I am pleased to speak to you today about the role of the EU on the maintenance of international peace and security.
We live in a world where the demand for multilateral solutions is greater than the supply. We see more divisions, more free-riding and more distrust than the world can afford.
Rules-based multilateralism is a term that’s perhaps well understood at the UN and in Brussels. Maybe it is not a simple, nor an appealing phrase; but our job is to bring it alive.
We need global cooperation based on agreed rules. The alternative is the law of the jungle, where problems don’t get solved. Every day we see the cost of the absence of multilateral action: reduced access to vaccines, insufficient climate action, peace and security crises that fester.
The root cause is the rise in power politics and ideological contests, leading to the erosion of trust. We have to address this deficit of multilateralism and push back against selective and self-serving approaches to multilateralism.
The EU remains committed to the UN and rules-based multilateralism. The core of our strategy is to protect, reform and build multilateralism that is fit for purpose.
The world’s biggest changes stem from new technologies. They can be both disruptive and empowering. Think of Artificial Intelligence, big data and cloud computing or genetic engineering, autonomous weapons and surveillance.
One of the biggest questions we face is how to ensure that the rules we so need for these emerging technologies reflect the values of the universal declaration of human rights. If not, technology will be used against individuals and communities in a nightmarish scenario.
We all know that conflict prevention and peace building are key. We must work with countries at risk before conflict erupts; and build sustainable peace after the signing ceremony. Sustainable peace compels us to be inclusive, with a particular focus on women and youth.
2.  The second year of the pandemic
We are in the second year of the pandemic. It has underscored the fragility of a hyper-globalised and interdependent world.
We need to learn wider lessons about how human health and security and planetary health and security are linked.
Where politics gave us stalemates and divisions, science and cooperation gave us the exit strategy: vaccines. The EU is a staunch promoter of vaccine multilateralism, with COVAX at the centre.
‘Team Europe’ has contributed more than €2,8 billion. We have exported more than 240 million doses of vaccines to 90 countries, more than any other region.
We are planning to donate at least 100 million doses to low and middle-income countries before the end of the year. But even this is not enough. So we call on all players to lift export restrictions on vaccines and their components.
Africa imports 99% of its vaccines. This has to change. The EU is partnering with Africa and industry, backed by an initial €1 billion in funding, to boost manufacturing capacity in Africa for vaccines, medicines and health technologies.
Beyond the pandemic, we know that climate change and biodiversity loss have reached existential levels. Two major UN Summits later this year, in Kunming and Glasgow, must deliver decisive action.
This is a real test of the multilateral system. We need these Summits to produce real outcomes, in line with the scale and urgency of the problem.
The Security Council has an important role to play on climate, health and their links to peace and security. To give impetus to the success of the two Summits, I hope you will pass a resolution on the link between climate change and security, which is increasingly evident.
3.  The responsibility of the Security Council 
Last year I said: “At a time of global crisis, we need a Security Council able to take the necessary decisions and not one that is paralysed by vetoes and political infighting.”
Unhappily, the situation has not improved. In the past year, we have seen new conflicts erupt (in Tigray); older ones re-start (Myanmar, Nagorno-Karabach, Israel-Palestine); and chronic violence continue (in DRC, Yemen).
In all these cases, we need this Council to provide the necessary decisions. This is about real people’s lives. The price of inaction is paid in conflicts not solved, humanitarian aid not delivered and in lives lost.
Sitting on the Security Council is a serious responsibility, politically, even morally. The UN Charter gave this Council the supreme say on matters of peace and security. For the EU there is no acceptable alternative. No other organisation we can turn to.
So the Security Council must provide the support and protection that people in conflict zones depend upon.
We look to the UN Security Council to match its belated but unanimous support for the UN Secretary-General’s call for a global cease-fire with a full commitment to its implementation.
4.  The EU’s contribution to peace and security
The EU has been and remains a staunch supporter of the UN, in all three pillars. We have said it many times before and we mean it.
Our support is not just in what we say, although that matters, but in financial terms, human terms and political terms.
We work with UN missions in many theatres. We have 17 operations and missions, contributing to UN goals with UN mandates; 13 of them operating alongside UN missions. We are currently defining our next set of joint EU-UN priorities on peace operations and crisis management, to strengthen our cooperation and maximise impact.
We are fully committed to the Sustainable Development Goals. And we base ourselves on the conviction that real security depends on people enjoying their rights and freedoms.
The EU will always be on the side of those calling for their universal rights to be respected, sometimes at grave personal risks: in Hong Kong, Venezuela, Myanmar and elsewhere.
In many cases, given the refusal by those in power to respect people’s fundamental rights, we have imposed sanctions. They are never an end in themselves but a tool to push for the respect of universal rights. Our sanctions are targeted and do not hinder the delivery of humanitarian aid.
5.  Concrete cases
Now I want to highlight a few concrete areas where the EU is deeply engaged and where we need urgent results.
Israel-Palestine: Last month we saw a dramatic escalation with enormous human costs. We now need to build on the ceasefire to resume negotiations towards a two-state solution.
Let us remember that security is not the same as peace. And an untenable status quo may turn yet again into another cycle of violence. Therefore, a negotiated settlement is urgent and indeed the only way to give rights and security to both Israelis and Palestinians. To accompany the parties, we must revive the Quartet.
Syria: This year we mark the 10th anniversary of the war in Syria. The Syrian regime and its backers, have left the country in ruins. Given the dramatic humanitarian situation, it is essential that the cross-border mechanism remains open and I appeal to the Security Council members to renew it in July.
Libya: There has been important progress with the national unity government. But the ceasefire is still fragile and needs to be supported by a robust monitoring mechanism, so that elections are able to take place in optimal conditions in December.
The EU has offered support. We welcome the unanimous renewal of the arms embargo and the authorisation of inspections and the seizure of illegal cargo on the high seas. Operation Irini will continue its work on the implementation of the embargo. We need greater focus on the issue of withdrawal of foreign fighters and mercenaries from Libya, to avoid the destabilisation of the whole region.
The Sahel and the Horn of Africa: Both regions hold the key to African security.  The revised EU strategy is built around the need for more results and greater governmental accountability. We must continue our engagement but also to take firm action against those who stand in the way of a peaceful and inclusive transition process.
Iran: We are working non-stop to revive the JCPoA in all its aspects, i.e. the nuclear activities and the sanctions lifting. I am actively engaged with all the main players, as is my team leading the negotiations in Vienna. We are making progress but the negotiations are intense on a number of issues including on the precise sequencing of steps.
Let me end with some cases closer to the EU:
Belarus: For months, we have seen massive repression of peaceful protestors that took to the streets demanding to elect their President. Recently, the regime resorted to the scandalous forced landing of a civilian plane, travelling between two EU capitals, to arrest a leading journalist and his companion.
This is a major attack on air safety and the EU response has been firm and principled. We have closed our airspace to planes from Belarus airlines and are in the process of adopting a new package of sanctions. We have also devised a €3 billion economic support package that would be available to a democratic Belarus.
Ukraine: I regret that the situation in the country tends to be instrumentalised for political purposes here at the Security Council.
To be clear: six years after all member of this Security Council unanimously supported the Minsk Agreements, little has been done to implement them. Russia is a party to the conflict and we count on it to take a constructive stance. I welcome President Zelinsky’s initiative to convene the Crimea Platform Summit; I intend to take part with President Michel and I hope there will be the widest possible participation from UN members.
Western Balkans: the EU will not rest until all the countries of the region are inside the EU. To this end, we are fully mobilised to support reconciliation and reforms as the best antidote to nationalist rhetoric. We will host the next edition of the Belgrade-Pristina Dialogue in the coming days.
More broadly in Europe we do not want geostrategic competition. We want a peaceful, prosperous and stable neighbourhood, free from so-called protracted conflicts and zones of influence.
Ladies and gentleman,
There are many other challenges I could mention. But I will stop here, also for reasons of time.
I look forward to your comments and to our debate
Link to the video: https://audiovisual.ec.europa.eu/en/video/I-206935
Compliments of the European External Action Service.
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FTC | Back to business #1: Where’s your data?

As many companies shift to an in-person workplace, you and your employees face the opportunities and challenges of the new new normal. Today is the first in a five-part Back to Business blog series to help ease the transition back to the office, including steps you can take to reduce the risk that COVID scammers, data thieves, and financial fraudsters will follow you there. One consideration for companies: assuring you’re in control of sensitive information. Here are some tips on maintaining appropriate data security standards as your employees return to the workplace.

Update your data inventory. Important business records need to be on your system and not on the personal laptops, tablets, or phones of staff members. Work with your employees to make sure need-to-keep documents are where they need to be and that confidential information that shouldn’t be in employees’ personal possession is securely removed.

Don’t forget paperwork and print-outs. Have your employees printed confidential business documents while they were working from home? Where is that paperwork now – disposed of securely or displayed on the fridge on the reverse of a shopping list or crayon drawing? Make sure your security discussions include sensitive documents that were created at home.

Conduct a security double-check on new platforms and software. To keep the business up and running during the COVID crisis, many companies had to move quickly to adopt new platforms and software, many of which have become indispensable productivity tools. If you continue to use them, now is a good time to make sure you’ve configured them to comply with your security standards.

Consider an in-house security refresher. Some people on your staff have spent more than a year without locking desk drawers or securing their computers at the end of the work day. Plan supplemental training to reinforce security basics. The FTC has resources for small businesses, so you don’t have to start from scratch.

Evaluate and adjust your practices in light of your company’s COVID experience. The past 15 months have given you a new perspective into your company’s information practices. While those lessons are fresh in your mind, reassess your security procedures and revise your policies. While you’re at it, take advantage of your company’s most valuable resource by asking employees at every level and in every department for their advice about what the past year has taught them about best security practices. Resilient companies understand the need to expect the unexpected and build contingencies for the next weather emergency, power outage, or other operational threat.

Author:

Lesley Fair

Compliments of the Federal Trade Commission.
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G7 summit, Cornwall, UK, 11-13 June 202

Main results
Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission, represented the EU at this year’s G7 summit hosted in Carbis Bay, Cornwall.
During the three-day meeting the G7 leaders discussed a wide range of pressing topics, including COVID-19, pandemic preparedness and economic recovery; geopolitical challenges and foreign affairs; trade and development; promoting open societies and democratic values; and fighting climate change and protecting the environment.
The summit took place under the UK presidency of the G7, the overarching theme of which is ‘Building Back Better’ from the pandemic. The UK invited leaders from Australia, India, South Korea and South Africa to attend part of the meeting as guest countries.
At the end of the summit, the G7 leaders adopted a leaders’ communiqué.

G7 leaders’ communiqué – Our shared agenda for global action to build back better
Remarks by President Charles Michel following the G7 summit in Carbis Bay, Cornwall, 11-13 June 2021

Infographic – COVID-19: the EU’s contribution to global vaccine solidarity
See full infographic

Health
The leaders set a collective goal of ending the pandemic in 2022. This will require vaccinating at least 60 per cent of the global population. Accelerating the rollout of safe, effective, accessible and affordable vaccines is therefore an international priority for the G7.
The G7 committed to providing one billion vaccine doses over the next year. These will primarily be channelled through COVAX, the vaccines pillar of the Access to COVID-19 Tools Accelerator (ACT-A), towards those in the greatest need. Taken together with the dose equivalent of the G7’s financial contribution of $8.6 billion, this gives a G7 total contribution of over two billion vaccine doses.
Emphasising the need for equitable access to COVID-19 vaccines, the G7 leaders committed to supporting the manufacture of COVID-19 tools in low-income countries and accelerating their manufacture on all continents. The leaders will engage constructively with discussions at the WTO on the role of intellectual property, including by working consistently within the TRIPS agreement.

The priority was to ensure we can meet the demand for vaccines and here the EU has taken leadership. Partners have now joined us to accelerate the production and delivery of vaccines worldwide.
European Council President Charles Michel

EU’s international solidarity during the COVID-19 pandemic (background information)
Infographic – COVID-19: the EU’s contribution to global vaccine solidarity

How to be better prepared for future pandemics and tackle long-standing global health threats was at the heart of discussions on global health. The G7 leaders acknowledged their particular role and responsibilities in strengthening the global health and health security architecture.
The G7 leaders welcomed the Rome Declaration adopted at the Global Health Summit on 21 May and are looking forward to working with the G20 and relevant international organisations in a quest for multilateral action on pandemic preparedness and response, including exploring the potential value of a treaty on pandemics.
The leaders also adopted the Carbis Bay Health Declaration, which sets out a G7 commitment to better prevent, detect, respond to, and recover from future pandemics through effective multilateral action and a strengthened global health system with the World Health Organization (WHO) at its centre.

G7 – Carbis Bay Health Declaration

The leaders joined the call for research into the origins of COVID-19.

We also call for a timely, transparent, expert-led, and science-based WHO-convened phase 2 COVID-19 Origins study including, as recommended by the experts’ report, in China.
G7 leaders’ communiqué

Economic recovery and jobs
To mitigate the impact of the pandemic, G7 countries have provided unprecedented support to citizens amounting to more than $12 trillion. The G7 will continue to support their economies for as long as is necessary, shifting from crisis response to promoting strong, resilient, sustainable, balanced and inclusive growth into the future.
To create a fairer global tax system, raise more tax revenue to support investment and crack down on tax avoidance, the leaders endorsed the creation of a global corporate minimum tax of at least 15 per cent on a country-by-country basis, through the G20/OECD inclusive framework. The goal is to reach an agreement at the July meeting of G20 finance ministers and central bank governors.
Free and fair trade
The G7 stand united in their commitment to free and fair trade as foundational principles and objectives of the rules-based multilateral system. The leaders agreed however on the need for a shared vision for a reform of the multilateral trading system, with a modernised rulebook and a reformed World Trade Organization (WTO) at its centre. In this context they highlighted the importance of a proper functioning of the WTO’s negotiating function and dispute settlement system.
The leaders committed to working collaboratively to address the risk of carbon leakage and to aligning their trading practices with their commitments under the Paris Agreement.
They also committed to continuing to work together to ensure that global supply chains are free from the use of forced labour.
Future frontiers
The G7 will promote stronger collaboration on research and development, and promote principles of research security and integrity and open science. To this end, the leaders endorsed the G7 Compact on Research Collaboration.

G7 – 2021 Research Compact

Climate and the environment
The G7 will continue to increase their efforts to keep the limit of a 1.5°C rise in temperature within reach. The leaders reaffirmed their commitment to the Paris Agreement and collectively committed to achieving net zero greenhouse gas emissions as soon as possible and by 2050 at the latest.
The green transition is expected to cut emissions, increase adaptation action worldwide, halt and reverse biodiversity loss, create new high-quality jobs, and increase prosperity and wellbeing. It will be technology-driven and supported by tangible actions in all sectors of the G7 economies and societies.
Specific commitments include further accelerating the transition away from unabated coal capacity while supporting affected workers, and ending new direct government support for unabated international thermal coal power generation by the end of 2021.
The transition to net zero economies poses particular financing challenges for developing countries. The G7 leaders stand by their bilateral and multilateral commitments to support these partners’ decarbonisation efforts through climate finance.
They reaffirmed the collective developed country goal to jointly mobilise $100 billion per year from public and private sources, through to 2025 in the context of meaningful mitigation actions and transparency on implementation.
The leaders also underlined the importance of high-integrity carbon markets and the optimal use of policy levers in order to move towards fair and efficient carbon-pricing.

Climate change: what the EU is doing (background information)

The G7 leaders committed to halting and reversing biodiversity loss by 2030, and supported an ambitious post-2020 global biodiversity framework to be adopted by parties at the COP15 on biodiversity. They adopted the G7 2030 nature compact, which sets out action on biodiversity across four core pillars: transition, investment, conservation, and accountability.
Under the compact, the G7 commit to conserving or protecting at least 30 per cent of global land and at least 30 per cent of the global ocean by 2030. They will contribute by conserving or protecting at least 30 per cent of their own land and coastal and marine areas by 2030 according to national circumstances and approaches.

G7 – 2030 Nature Compact

Gender equality
The G7 leaders recognised the devastating and disproportionate impact of COVID-19 on women and girls, which risks reversing hard-won gains especially with regards to gender-based violence, sexual and reproductive health and rights, and education and jobs.
The advancement of gender equity and equality is a central pillar of the G7’s plans and policies to build back better from the pandemic and is informed by three key priorities: educating girls, empowering women, and ending violence against women and girls.
The leaders committed to two new global SDG4 milestone girls’ education targets:

40 million more girls in education by 2026 in low and lower-middle income countries
20 million more girls reading by age 10 or the end of primary school by 2026, in low and lower-middle income countries

To ensure that these targets are underpinned by sustainable financing, the G7 leaders announced a combined pledge of $2.75 billion in funding over the next five years for the Global Partnership for Education ahead of its replenishment in July.
Global responsibility and action
The world’s major democracies are committed to working together to promote their shared values in the international system. This commitment is reflected in the Statement on Open Societies, which was adopted at the summit by the leaders of the G7 and those of Australia, India, the Republic of Korea, and South Africa.
In this statement, the leaders reaffirmed and promoted the values and principles of human rights, democracy, social inclusion, gender equality, freedom of expression, the rule of law, an effective multilateral system, and diverse, independent and pluralistic civil societies.

G7 – 2021 Open Societies Statement

The leaders recognised the particular responsibility of the largest countries and economies in upholding the rules-based international system and international law. They committed to working with all partners and as members of the G20, UN and the wider international community to this end, and encouraged others to do the same.
The leaders also discussed the most pressing geopolitical and foreign policy issues, including China, Russia, Ukraine, Belarus, Tigray, the Sahel, Libya, Afghanistan, the Democratic People’s Republic of Korea, Myanmar, the Indo-Pacific, Iran, and Iraq.
With regard to China, and competition in the global economy, the G7 will continue to consult on collective approaches to challenging non-market policies and practices which undermine the fair and transparent operation of the global economy.
In the context of their respective responsibilities in the multilateral system, the G7 will cooperate where it is in their mutual interest on shared global challenges, in particular on addressing climate change and biodiversity loss in the context of COP26 and other multilateral discussions.

At the same time and in so doing, we will promote our values, including by calling on China to respect human rights and fundamental freedoms, especially in relation to Xinjiang and those rights, freedoms and high degree of autonomy for Hong Kong enshrined in the Sino-British Joint Declaration and the Basic Law.
G7 leaders’ communiqué

The leaders reiterated their interest in stable and predictable relations with Russia. They called on Russia to stop its destabilising behaviour and malign activities and to fulfil its international human rights obligations and commitments.
On Ukraine, they called on Russia to alleviate tensions, act in accordance with its international obligations, and to withdraw its military troops and material at the eastern border of Ukraine and on the Crimean peninsula.

We remain firmly of the view that Russia is a party to the conflict in eastern Ukraine, not a mediator.
G7 leaders’ communiqué

With respect to the continuing attacks on human rights, fundamental freedoms and international law by the authorities in Belarus, the G7 will work together to hold those responsible to account, including through imposing sanctions, and continue to support civil society, independent media and human rights in the country.
The leaders expressed their deep concern about the ongoing conflict in Ethiopia’s Tigray region. They called for an immediate cessation of hostilities, unimpeded humanitarian access to all areas, the immediate withdrawal of Eritrean forces, and for all parties to pursue a credible political process.

Seven months of conflict, atrocities, ethnic-based violence, and human rights and IHL violations are leading thousands of innocent people to one of the worst man-made famines ever. We call on the entire international community to act.
European Council President Charles Michel

Development
The G7 leaders acknowledged that COVID-19 has a far-reaching impact on the poorest countries who already were grappling with the effects of conflict, climate change, socio-economic shocks and a chronic lack of resources and infrastructure. To help the most fragile countries, the G7 support a set of complementary measures including debt relief, development finance and support through the International Monetary Fund (IMF).
The G7 leaders recognised the significant infrastructure needs across low and middle-income countries, which have been exacerbated by the Covid-19 pandemic. They committed to a step change in their approach to global infrastructure financing, with a specific focus on Africa. DFIs and multilateral partners intend to invest at least $80 billion into the private sector in Africa over the next five years to support sustainable economic recovery and growth.

For some years already, with some leaders in Europe we have been convinced that this engagement with Africa needs to be at the heart of our future international relations. Increasingly, we’ve been able to unify the positions of European countries on this issue and now we have convinced our partners to further mobilise funds to secure a win-win strategy for Africa and Europe.
European Council President Charles Michel

Background brief – G7 summit, Cornwall, 11-13/06/2021

About the UK G7 presidency
The UK holds the G7 presidency from 1 January until 31 December 2021. Its main priority for this period is for leading democracies to help the world fight, and then build back better from COVID-19 and create a greener, more prosperous future by:

leading the global recovery from coronavirus while strengthening our resilience against future pandemics
promoting our future prosperity by championing free and fair trade
tackling climate change and preserving the planet’s biodiversity
championing our shared values

For more information about the UK’s presidency priorities and the Cornwall summit, visit the UK G7 presidency website:

Website of the UK presidency of the G7
Cornwall summit web page (UK presidency G7 website)

In preparation for the Cornwall summit, the UK hosted a video conference of G7 leaders on 19 February 2021. At the meeting, President Michel called for a global treaty on pandemics and for equitable and affordable access to vaccines for all.
At the end of the video conference, the leaders adopted a joint statement.

G7 Leaders’ statement, 19 February 2021

Compliments of the European Council. 
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EU Commission and industry invest €22 billion in new European Partnerships to deliver solutions to major societal challenges

Today, the Commission launched 11 new European Partnerships together with industry, to boost investments in research and innovation and to overcome major climate and sustainability challenges, towards making Europe the first climate neutral economy and delivering on the European Green Deal. In line with the goals of the ‘twin’ green and digital transition, the Partnerships will also deliver on the EU’s digital ambitions for the next decade, Europe’s Digital Decade. They will receive over €8 billion from Horizon Europe, the new EU research and innovation programme for 2021-2027. The total commitments, including those from private partners and from Member States, amount to around €22 billion.
This critical mass of funding allows the Partnerships to pursue innovative solutions on a large scale, for example to tackle emissions from energy-intensive industries and hard-to-decarbonise sectors, such as shipping and steel-making, as well as to develop and deploy high-performance batteries, sustainable fuels, artificial intelligence tools, data technologies, robotics, and more. Pooling in efforts, resources and investments jointly and on a large scale under the Partnerships will also generate long-term positive impacts, boost European competitiveness and technological sovereignty and create jobs and growth.
The eleven European Partnerships are:

European Partnership for the European Open Science Cloud. It aims to deploy and consolidate by 2030 an open, trusted virtual environment to enable the estimated 2 million European researchers to store, share and reuse research data across borders and disciplines.

European Partnership for Artificial Intelligence, Data and Robotics. To deliver the greatest benefit to Europe from Artificial Intelligence (AI), data and robotics, this Partnership will drive innovation, acceptance and uptake of these technologies, for the benefit of citizens and businesses.

European Partnership for Photonics (light-based technologies). It aims to speed up photonic innovations, securing Europe’s technological sovereignty, raising the competitiveness of Europe’s economy and promoting long-term job creation and prosperity.

European Partnership for Clean Steel – Low Carbon Steelmaking. It supports EU leadership in transforming the steel industry into a carbon-neutral one, serving as a catalyser for other strategic sectors.

European Partnership Made in Europe. It will be the driving force for European leadership in sustainable manufacturing in Europe, by applying the principles of the circular economy (zero-waste and others), digital transformation and climate neutral manufacturing.

European Partnership Processes4Planet. Its vision is that European process industries are globally leading on the 2050 climate neutrality goal with a strong focus on low-carbon technologies, circularities, such as circularity hubs and competitiveness.

European Partnership for People-centric Sustainable Built Environment (Built4People). Its vision is high-quality, low-carbon, energy and resource-efficient built environments, like buildings, infrastructure, and more, which drive the transition towards sustainability.

European Partnership towards Zero-emission Road Transport (2Zero). It aims to accelerate the development of zero-emission transport with a systems approach, supporting a climate neutral and clean road transport system.

European Partnership for Connected, Cooperative and Automated Mobility. Its goal is to accelerate the implementation of innovative, connected, cooperative and automated mobility technologies and services.

European Partnership for Batteries: Towards a competitive European industrial battery value chain. It aims to support the development of a world-class European research and innovation ecosystem on batteries, and to foster European industrial leadership in the design and production of batteries for the next generation of both stationary and mobile applications.

European Partnership for Zero Emission Waterborne Transport. It aims for the EU to lead and accelerate the transformation of maritime and inland waterborne transport to eliminate all harmful environmental emissions, including greenhouse gas, air and water pollutants, through innovative technologies and operation.

The Commission adopted today Memoranda of Understanding to launch the Partnerships, which will start their operations immediately. A signature ceremony for the Memoranda of Understanding will take place at the European Research and Innovation Days on 23 June.
Members of the College said:
Margrethe Vestager, Executive Vice-President for a Europe Fit for the Digital Age, said: “Cooperation is key when it comes to overcoming the challenges in Europe’s green and digital transition. And digital technologies are driving this transition towards a climate-neutral, circular and more resilient economy. The eleven partnerships, that the Commission and the industry has proposed together today, will mobilise significant resources, around €22 billion, so that we can jointly identify trustworthy artificial intelligence, data, robotics and many more technological tools to reach our environmental and climate goals, for a cleaner and healthier future.”
Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, said: “These Partnerships are all about pooling research and innovation resources and ensuring that research results are turned into useful innovations for the citizens. With Horizon Europe we are committed to emerge from the climate crisis, provide sustainable solutions to major environmental challenges and accelerate a sustainable recovery. This will benefit all Europeans.”
Thierry Breton, Commissioner for Internal Market, said: “With the new Partnerships Europe is coming at the forefront of global technological developments, building key industrial capacities and accelerating its twin green and digital transitions. This will help put Europe on a path towards climate-neutrality by 2050 and a circular economy. Through their work, the Partnerships will also put an emphasis on developing the digital technologies needed for supporting Europe’s industrial leadership.”
Background
The eleven Partnerships for which Memoranda of Understanding have been adopted today are so-called ‘co-programmed’ European Partnerships – partnerships between the Commission and mostly private, but sometimes also public, partners. They will run from 2021 to 2030, allowing them to provide input into the last calls of Horizon Europe and wrap up their final activities afterwards.
The Memorandum of Understanding is the basis for the cooperation in a Partnership, as it specifies its objectives, the commitments from both sides and the governance structure. The Partnerships also provide the Commission with input on relevant topics to be included in the Horizon Europe Work Programmes. Implementation runs first and foremost through the Horizon Europe Work Programmes and their calls for proposals. Private partners develop additional activities, which are not funded through Horizon Europe, but which are included in the Partnership’s Strategic Research and Innovation Agendas and focus on issues such as market deployment, skills development or regulatory aspects.
These ‘co-programmed’ European Partnerships are different, but also complementary to the more complex so-called ‘institutionalised’ European Partnerships, which are based on a legislative proposal from the Commission and have a ‘Dedicated Implementing Structure’. Earlier this year, in February the Commission proposed to set up 10 new ‘institutionalised’ European Partnerships between the European Union, Member States and/or the industry. With an investment of nearly €10 billion, which the partners will match with at least an equivalent amount, they aim to speed up the transition towards a green, climate neutral and digital Europe, and to make European industry more resilient and competitive.
Compliments of the European Commission.
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IMF | Four Factors Behind the Metals Price Rally

As economies reopen in various parts of the world, the price of some commodities has soared, including the prices of prominent industrial metals. The extent to which the metals price rally may lose steam depends on how multiple factors will play out.
As our latest chart of the week shows, metals prices have increased by 72 percent relative to their pre-pandemic levels—reaching a nine-year high in May (in inflation adjusted terms). The increase has been broad-based across industrial metals—copper is up 89 percent in May (year-over-year), iron ore is up 116 percent, and nickel is up 41 percent. The prices of most agricultural and energy commodities are also tracking upward, but at a slower rate. Energy commodities (oil, coal, and natural gas), in particular, sit only a few percentage points above pre-pandemic levels.
Why have metals prices increased much more than other commodities? There are four reasons:
1. A manufacturing-based recovery: Manufacturing activity did not slump as much at the start of the pandemic and recovered more quickly than services, especially in China, which is the major user of metals. At the same time, sectors in which energy commodities feature prominently, like the transportation sector, remain depressed. For example, global road fuels consumption is still at 93 percent of pre-pandemic levels, restraining a further rebound of petroleum prices.
2. Supply-side factors: Many mining operations were temporarily disrupted by COVID-19. What’s more, freight rates for the transportation of bulk materials reached a ten-year high due to congestion in key ports, quarantine restrictions, ongoing problems staffing shipping crews, and a rebound in fuel prices from the deep troughs in Spring 2020. This all added to the cost of metals.
3. Expectations for faster energy transition and infrastructure spending: Buoyant expectations about the pace of the transition to a greener economy and ambitious infrastructure programs gave metals prices an additional boost. Both would increase the “metal intensity” of the global economy. A fast energy transition, for example, could require a 40-fold increase in the consumption of lithium for electric cars and renewables, while the consumption of graphite, cobalt, and nickel for these purposes may rise around 20 to 25 times, according to the International Energy Agency. Ambitious infrastructure programs in the European Union and the United States would drive up the demand for copper, iron ore, and other industrial metals.
4. Storability of metals: Metals are easier to store than crude oil or some agricultural goods, which need special facilities. This makes their pricing more forward looking and, thus, more sensitive to changes in interest rates (lower interest rates reduce the “cost of carry,” which also includes cost of storage, insurance, and other expenses, and, thus, tend to support commodity prices) and market expectations, such as the ones about a faster energy transition and infrastructure spending.
Will metals’ prices keep increasing or retrench? This is a challenging question.
Market participants seem to expect a peak in metals prices relatively soon, as factors (1) and (2) are supposedly temporary in nature. Indeed, futures markets suggest an increase of industrial metal prices by 50 percent in 2021 (year-over-year), but a decrease by 4 percent in 2022.
Still, prices are expected to remain high and could rise further, especially if demand from an energy transition accelerates. On the flip side, prices may decrease more than expected if legislative approval and government actions required for the energy transition and infrastructure programs do not materialize as expected.
Compliments of the IMF.
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EU Parliament calls for temporary COVID-19 vaccine patent waiver

Patent waiver will enhance global access to affordable COVID-19 vaccines
Voluntary licensing, transfer of know-how and technology key to ramping up global production in long term
Call on US and UK to abolish export ban on vaccines and raw materials
More support for global vaccine distribution mechanism COVAX

To accelerate global vaccine rollout, MEPs demand the temporary lifting of intellectual property rights protection for COVID-19 vaccines.

In a resolution adopted with 355 votes in favour, 263 against and 71 abstentions, Parliament proposes negotiations start for a temporary waiver of the WTO TRIPS Agreement on patents to improve global access to affordable COVID-19-related medical products and to address global production constraints and supply shortages. MEPs also point to the threat that an indefinite TRIPS Agreement waiver would pose to research finance, in particular for researchers, investors, developers and clinical trials.
Voluntary licencing (when the developer of the vaccine decides to whom and under what conditions the patent can be licensed to enable manufacturing),know-how and technology transfer to countries with vaccine-producing industries are the most important way to scale and speed up global production in the long term, said MEPs.
To address production bottlenecks, MEPs call on the EU “to rapidly eliminate export barriers and to replace its own export authorisation mechanism with export transparency requirements”. The US and the UK, for their part, should “immediately abolish their export ban on vaccines and raw materials”, they say.  11 billion doses are needed to immunise 70 percent of the world’s population and only a fraction of that amount has been produced.
Vaccine production in Africa
As the vast majority of the 1.6 billion vaccine doses administered to date have gone to vaccine-producing industrialised countries and only 0.3 percent to the 29 poorest countries, the EU needs to support manufacturing in Africa, Parliament emphasizes.  Another important vehicle to provide vaccines to low income economies is the global vaccine distribution mechanism COVAX to which Parliament encourages contributions.
Transparency for next generation vaccines
Finally, MEPs demand the full disclosure of future advance purchase agreements, particularly for next generation vaccines, and that those contracts include transparency requirements for suppliers.
Background
Any decision on waiving intellectual property rights would be taken by the WTO TRIPS Council, in session on 8-9 June with the Commission presenting the European proposal that does not include a waiver. At a debate preceding the adoption of the resolution, several political groups argued in favour of lifting the intellectual property rights protections on COVID-19 related vaccines.

Compliments of the European Parliament.

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