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U.N. says world on course to warm 2.7C on today's emissions pledges

The BBC reported according to the UN Environment Programme, national plans to cut carbon fall far short of what's needed to avert dangerous climate change.
The Emissions Gap report says country pledges will fail to keep the global temperature under 1.5C this century.
The BBC said, the Unep analysis suggests the world is on course to warm around 2.7C with hugely destructive impacts.
But there is hope that, if long term net-zero goals are met, temperatures can be significantly reined in.
According to the UN Secretary General, Antonio Guterres, just a few days before COP26 opens in Glasgow and another scientific report on climate change is "another thundering wake-up call".
This week, we've already had a study from the WMO showing that warming gases were at a new high last year, despite the pandemic.

Now in its 12th year, this Emissions Gap report looks at the nationally-determined contributions (NDCs) or carbon-cutting plans that countries have submitted to the UN ahead of COP.
Read more: White House rejects proposal to donate expiring unused COVID-19 vaccines overseas
These pledges run up to 2030 and have been submitted by 120 countries. Unep has also taken account of other commitments to cut warming gases not yet formally submitted in an NDC.
The report finds that when added together, the plans cut greenhouse gas emissions in 2030 by around 7.5% compared to the previous pledges made five years ago.
This is nowhere near enough to keep the 1.5C temperature threshold within sight, say the scientists who compiled the study.
To keep 1.5C alive would require 55% cuts by the same 2030 date. That means the current plans would need to have seven times the level of ambition to remain under that limit.

"To stand a chance of limiting global warming to 1.5C, we have eight years to almost halve greenhouse gas emissions: eight years to make the plans, put in place the policies, implement them and ultimately deliver the cuts," said Inger Andersen, executive director of Unep.
"The clock is ticking loudly."
According to the authors, the current pledges would see the world warm by 2.7C this century, a scenario that Antonio Guterres calls a "climate catastrophe".
Read more: The stalemate of Vienna nuclear talks
He believes the report highlights the failures of political leaders.
"The emissions gap is the result of a leadership gap," he said at the launch of the study.
"But leaders can still make this a turning point to a greener future instead of a tipping point to climate catastrophe."
As Mr Guterres suggests, there are some hopeful signs in the report.
Around 50 countries plus the EU have pledged a net zero target for the middle of this century.
These strategies cover over half of greenhouse gas emissions.
The Unep analysis finds that if these plans were implemented fully, this could shave 0.5C off the temperature rise by 2100.
This would bring the global temperature level down to 2.2C, which would see dramatic and deadly impacts from warming but would be a step in the right direction from where the world is currently headed.
The problem, though, is that many of these net zero goals are ambiguous, say the authors - particularly among the world's 20 richest nations, where a dozen long-term plans are said to be quite vague.

Many delay significant cuts until after 2030, raising serious doubts about whether they can really deliver net zero just 20 years later.
Another hopeful sign relates to methane. The report also says there is great potential to make progress on these emissions, which are the second largest source of warming.
Up to 20% of these emissions from fossil fuels, from waste and from agriculture could be curbed at low or no cost.
However, the opportunity to develop a far greener world as the world recovers from Covid is in danger of being lost, say the authors.
They find that around 20% of recovery investments will support renewables and the green economy.
"The huge sums spent to recover economies from Covid-19 are a once-in-a-generation opportunity to boost low-carbon technologies and industries. In most cases, this opportunity is not being taken," said Brian O'Callaghan, project manager of the Oxford University Economic Recovery Project, and an author on the Unep report.
"This is a particular slap in the face for vulnerable nations who are suffering the worst consequences of climate change…we remain without a commitment from the highest emitters to cover the loss and damage that they have brought on the world."
Source: BBC
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BENEFIT AGM approves 10%...
- March 27, 2025
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.
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