King Charles III won't attend COP27 after Truss reportedly 'objected'
October 3, 2022, 7:52 am

King Charles III won't attend COP27 after Truss reportedly 'objected'

King Charles III - Photo. The Royal Family's official Twitter account

King Charles III will not travel to next month's United Nations climate summit in Egypt, Buckingham Palace confirmed on Sunday, after UK Prime Minister Liz Truss reportedly "objected" to the keen environmentalist attending.

Britain's new monarch, who took the throne when his mother Queen Elizabeth II died last month, had intended to deliver a speech to world leaders gathering at the COP27 summit on November 6-18, the Sunday Times reported.

But the plan has been axed after Truss -- who was appointed prime minister by the late queen just two days before the latter died -- opposed it during a personal audience with Charles at the palace last month, the newspaper said.

Queen Elizabeth addressed the last UN climate summit in November 2021, with the blessing of the Tory government led by Truss's predecessor Boris Johnson.

Charles III's office appeared to distance itself from the incendiary newspaper report, insisting the king had sought Truss's advice.

It told the BBC: "With mutual friendship and respect there was agreement that the king would not attend.”

Egypt launches bike sharing project ahead of hosting COP27 - Photo. Pixabay

The Sunday Times story comes amid speculation Britain's new leader -- already under fire over her economic plans which have sparked market turmoil -- could controversially scale back the country's legally binding climate commitments.

Her newly assembled cabinet contains a number of ministers who have expressed scepticism about the so-called 2050 net zero goals, while Truss herself is seen as less enthusiastic about the policy than predecessor Johnson.

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The newspaper said she is unlikely to attend COP27 -- the 27th Conference of the Parties to the UN Framework Convention on Climate Change -- in the Egyptian resort of Sharm el-Sheikh.

Britain hosted the last summit, COP26, in the Scottish city Glasgow. In addition to the late queen, Charles and his son William both addressed the event.

'Benching soft power'

Downing Street declined to comment on the report.

Cabinet minister Simon Clarke dismissed it as "simply not true", telling Sky News the decision had been made "consensually" and "amicably".

Meanwhile, Conservative party chairman Jake Berry told the broadcaster the government was "committed to the net zero target by 2050".

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However, Tory MP Tobias Ellwood urged a rethink over the monarch's non-participation in Egypt, tweeting he hoped "common sense will prevail".

"King Charles is a globally respected voice on the environment and climate change," Ellwood added.

"His attendance would add serious authority to the British delegation. Can we really go from hosting COP26 to benching soft power at COP27?"

The Sunday Times said the episode was "likely to fuel tensions" between Charles and Truss, but cited a government source who claimed the audience had been "cordial" and there had "not been a row".

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Meanwhile, a royal source told the paper: "It is no mystery that the king was invited to go there.

"He had to think very carefully about what steps to take for his first overseas tour, and he is not going to be attending COP(27)."

Under convention in Britain, all overseas official visits by members of the royal family are undertaken in accordance with advice from the government.

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However, despite not attending in person, reports said the king still hopes to be able to contribute in some form to the conference.

Charles III is a committed environmentalist, with a long history of campaigning for better conservation, organic farming and tackling climate change.

Source: france24

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.