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With proposed reforms, UN closer than ever to a development system that is ‘fit for purpose’

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There are serious threats to the 2030 Agenda for Sustainable Development and the United Nations, especially its development system, must be effectively reformed in order to be able to limit the impact of those threats Secretary-General António Guterres said on Tuesday.

In his address to the opening of the annual operational segment of the Economic and Social Council (ECOSOC), Mr. Guterres warned that the world is facing a crisis of legitimacy, confidence and trust, rooted in legitimate fears

And while the benefits of globalization should be clear to all, “too many are being left behind.”

“Women are still far less likely to participate in the labour market – and gender pay gaps remain a global concern. Youth unemployment is at alarming levels. And inequalities are rampant – stretching the fabric of societies to the breaking point and undermining the social compact,” he stated, pointing out that “a handful of men hold the same wealth as half of humanity.”

Mr. Guterres underscored that exclusion resulted in frustration, alienation and instability.
“All of this compels us to do all we can to achieve inclusive and sustainable development – a goal in its own right, but also our best form of prevention against all kind of risks,” Mr. Guterres stressed.

An economic and social model that drives exclusion and environmental destruction cause deaths, missed opportunities, division and future conflicts.

“We need a global economy that works for all and creates opportunities for all,” he asserted.

According to the UN chief, the 2030 Agenda is crucial to rebuild the trust needed for fair globalization.

The Secretary-General flagged poverty eradication as the UN’s top priority, with the 2030 Agenda acting as its roadmap and the goals and targets its tools to get there.

He saw the Sustainable Development Goals (SDGs) as outlining the Organization’s commitment to expand dignity and opportunity for all on a healthy planet by empowering women, meaningfully including young people, reducing climate risk, creating decent jobs and mobilizing clean investments for inclusive growth.

“Finance is pivotal,” espoused Mr. Guterres, pointing to the Addis Ababa Action Agenda as stressing the importance of upholding Official Development Assistance commitments.

He underscored the need to support countries’ efforts to mobilize domestic resources, which must be accompanied by the international community’s commitment to fight tax evasion, money laundering and illicit financial flows, which threaten development.

“We are focused on building a system that is demand-driven, oriented around achieving results at scale, and accountable in providing support to achieve the 2030 Agenda,” Mr. Guterres said, mentioning a proposed a set of global adjustments to make operations on the ground “more cohesive, effective and efficient.”

He encouraged all present to take inspiration from the 2030 Agenda to forge the future we want.

“We are now closer than ever to repositioning sustainable development at the heart of the organization and to having a development system that is an even stronger partner as we seek to deliver for people,” said the UN chief.

“Together, let us make good on our shared promise to humanity – a future of prosperity, peace and dignity for all,” he concluded.

Development system ‘fit for purpose’

Opening the meeting, Marc Pecsteen de Buytswerve, Permanent Representative of Belgium to the United Nations and Vice-President of ECOSOSC said that repositioning the UN’s development system would be a unique opportunity to create a more integrated, effective, efficient and accountable system that matches the world’s commitments.

In short, he said, a development system that is “fit for purpose.”

He referred to the 2030 Agenda as demonstrating the commitment of Member States to promote peaceful, just and inclusive societies based on human rights, gender equality, empowerment of all women and girls, and free from poverty and fear and violence.

Mr. Pecsteen recalled the Secretary-General’s vision and concrete proposals to realign and reinvigorate the UN development system, which is necessary for the adequate and timely response Member States expect from the UN in the 21st century to help deliver on the 2030 Agenda promises.

He thanked Mr. Guterres for his leadership, vision and determination “to take on a challenge that is not easy,” adding that it was now up to the Member States to be “as bold in their desire to transform the system.”

He detailed that the ECOSOC Segment for Development will lay the groundwork for the consensus that will be forged in the coming weeks.

Panelists include senior government representatives from capitals, board chairs, UN leaders and key partners in the system.

Also addressing the meeting, Amina Mohammed, the UN Deputy Secretary-General, reiterated the importance of utilizing the opportunities offered by the  2030 Agenda to address the myriad challenges facing the world as well as to seize the momentum offered by it to ensure that the Organization is “fit to support” national efforts to realize the global goals.

In that context, she highlighted the important role that UN Resident Coordinators have to play.

“We know that if we want to strengthen our ability to support the 2030 Agenda in a cohesive, effective, accountable and efficient manner – then we must strengthen the Resident Coordinator system,” underscored the deputy UN chief, noting that a “reinvigorated” Resident Coordinator system is at the core of the proposals to reposition the UN development system.

“And it is at the centre of the mandate of the quadrennial comprehensive policy review,” she added.

The Policy Review is the mechanism through which UN Member States assess the effectiveness, efficiency, coherence and impact of UN development work. It also provides policy orientations for development cooperation at country level.

In her remarks, Ms. Mohammed also stated that strengthened Resident Coordinator system would ensuring a more accountable UN development system on the ground, one that is more responsive to national needs and more capable to deliver meaningful results.

“A system that can draw on the expertise across all entities – including non-resident entities, DESA [the Department of Economic and Social Affairs] and the regional economic commissions – to respond to country priorities,” she added.

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EU Politics

Commission proposes draft mandate for negotiations on Gibraltar

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The European Commission has today adopted a Recommendation for a Council decision authorising the opening of negotiations for an EU-UK agreement on Gibraltar. The Commission also presented its proposal for negotiating guidelines.

It is now for the Council to adopt this draft mandate, after which the Commission can begin formal negotiations with the United Kingdom.

Vice-President Maroš Šefčovič, the EU’s co-chair of the Joint Committee and Partnership Council, said: “By putting forward this draft mandate, we are honouring the political commitment we made to Spain to start the negotiations of a separate agreement between the EU and the UK on Gibraltar. This is a detailed mandate, which aims to have a positive impact for those living and working on either side of the border between Spain and Gibraltar, while protecting the integrity of the Schengen Area and the Single Market.”

Gibraltar was not included in the scope of the EU-UK Trade and Cooperation Agreement agreed between the EU and UK at the end of 2020. The Commission committed to begin the negotiation of a separate agreement on Gibraltar, should Spain request so. That is why the Commission is now recommending that the Council authorises the launch of specific negotiations on Gibraltar.

Draft mandate

Today’s Recommendation builds upon the political understanding reached between Spain and the UK on 31 December last year. It is without prejudice to the issues of sovereignty and jurisdiction, and focuses on cooperation in the region.

The proposed negotiating directives put forward solutions to remove physical checks and controls on persons and goods at the land border between Spain and Gibraltar, while ensuring the integrity of the Schengen area and the Single Market. The proposals include rules establishing responsibility for asylum, returns, visas, residence permits, and operational police cooperation and information exchange.

Other measures are included in different areas, such as land and air transport, the rights of cross border workers, the environment, financial support, and establishing a level playing field. It envisages a robust governance mechanism, including a review of the implementation of the agreement after four years, the possibility for both parties to terminate the agreement at any time and the possibility of unilateral suspension of the application of the agreement under certain circumstances.

Spain, as the neighbouring Schengen Member State and as the Member State to be entrusted with the application and implementation of certain provisions of the future agreement, will be particularly affected by the agreement. The Commission will therefore maintain close contacts with the Spanish authorities throughout the negotiations and afterwards, taking their views duly into account.

With regard to external border control, in circumstances requiring increased technical and operational support, any Member State, including Spain, may request Frontex assistance in implementing its obligations. The Commission acknowledges that Spain has already expressed its full intention to ask Frontex for assistance.

Background

The UK-EU Trade and Cooperation Agreement excluded Gibraltar from its territorial scope (Article 774(3)). On 31 December 2020, the Commission received a note of the proposed framework for a UK-EU legal instrument setting out Gibraltar’s future relationship with the EU. The relevant services in the Commission have examined this in close consultation with Spain. Building upon the proposed framework and in line with Union rules and interests, the Commission has today adopted a Recommendation for a Council decision authorising the opening of negotiations for an EU-UK agreement on Gibraltar and presented its proposal for negotiating guidelines.

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Energy News

IRENA Outlines Action Agenda on Offshore Renewables for G20

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Boosting offshore renewables will accelerate the energy transition and allow G20 countries to build a resilient and sustainable energy system, a new report by the International Renewable Energy Agency (IRENA) finds. Offshore Renewables: An Action Agenda for Deployment actively contributes to the G20 agenda by identifying actions which support the commercialisation of offshore technologies such as wind, wave, tidal, ocean thermal and floating PV in pursuit of extending their deployment worldwide. The report was launched by IRENA’s Director-General Francesco La Camera during the meeting of G20 Environment, Climate and Energy Ministers in Naples.

“Offshore renewables have the potential to meet more than twenty times of today’s global power demand”, said Francesco La Camera, Director-General of IRENA. “Particularly offshore renewables constitute a critical pillar for decarbonising energy systems and fostering a global blue economy. I congratulate the G20 Presidency for their forward-looking decision to integrate offshore renewables in the G20 agenda. IRENA is pleased to support the G20 Offshore Renewables Action Agenda with our energy transition expertise and valuable input from our global membership.”

To put the world on a climate-safe pathway, IRENA’s 1.5°C scenario foresees a massive growth of offshore wind,  ocean energy and floating photovoltaic in the coming decades. Offshore wind for example would increase from 34 gigawatts (GW) today to 380 GW by 2030 and more than 2,000 GW by 2050. Ocean energy would represent additional 350 GW of offshore renewable generation capacity by 2050.

Today’s report includes 50 concrete actions that G20 countries could take while defining their national strategies for offshore renewables. Suggested actions include the strengthening of oceans governance in line with UN Law of the Sea, the integration of offshore renewables in national marine spatial planning and early planning for infrastructure like underwater cables and grids. Policy frameworks, international cooperation and investment in R&D are key recommendations to drive offshore globally. The report recommends to promote financing for offshore within the “Finance Track” of the G20.

Offshore renewables have the potential to greatly contribute to SDG 14 on the sustainably use of oceans while boosting blue economy activities such fishery, shipping and tourism. A blue economy fuelled by offshore renewables would help islands and countries with coastal areas to meet their national goals aligned with the Paris Agreement and 2030 Sustainable Development Agenda.

The G20 is well placed to foster offshore renewables. Members account for the vast majority of global economic activity and trade and are home to over three-quarters of total offshore renewable installed capacity to date. 99.3% of total offshore wind capacity and nearly all installed ocean energy capacity globally can be found in G20 countries.

Today’s report was prepared by IRENA on the request and to the Italian Presidency of the G20. It benefited from the input of the G20 Working Group on Energy and insights by IRENA’s global membership gained under the Agency’s Collaborative Framework on Offshore Renewables.

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EU Politics

Commission overhauls anti-money laundering and countering the financing of terrorism rules

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The European Commission has today presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering terrorism financing (AML/CFT) rules. The package also includes the proposal for the creation of a new EU authority to fight money laundering. This package is part of the Commission’s commitment to protect EU citizens and the EU’s financial system from money laundering and terrorist financing. The aim of this package is to improve the detection of suspicious transactions and activities, and to close loopholes used by criminals to launder illicit proceeds or finance terrorist activities through the financial system. As recalled in the EU’s Security Union Strategy for 2020-2025, enhancing the EU’s framework for anti-money laundering and countering terrorist financing will also help to protect Europeans from terrorism and organised crime.

Today’s measures greatly enhance the existing EU framework by taking into account new and emerging challenges linked to technological innovation. These include virtual currencies, more integrated financial flows in the Single Market and the global nature of terrorist organisations. These proposals will help to create a much more consistent framework to ease compliance for operators subject to AML/CFT rules, especially for those active cross-border.

Today’s package consists of four legislative proposals:

Members of the College said:

Valdis Dombrovskis, Executive Vice-President for an Economy that works for people, said: “Every fresh money laundering scandal is one scandal too many – and a wake-up call that our work to close the gaps in our financial system is not yet done. We have made huge strides in recent years and our EU AML rules are now among the toughest in the world. But they now need to be applied consistently and closely supervised to make sure they really bite. This is why we are today taking these bold steps to close the door on money laundering and stop criminals from lining their pockets with ill-gotten gains.”

Mairead McGuinness, Commissioner responsible for financial services, financial stability and Capital Markets Union said: “Money laundering poses aclear and present threat to citizens, democratic institutions, and the financial system. The scale of the problem cannot be underestimated and the loopholes that criminals can exploit need to be closed. Today’s package significantly ramps up our efforts to stop dirty money being washed through the financial system. We are increasing coordination and cooperation between authorities in member states, and creating a new EU AML authority. These measures will help us protect the integrity of the financial system and the single market.”

A new EU AML Authority (AMLA)

At the heart of today’s legislative package is the creation of a new EU Authority which will transform AML/CFT supervision in the EU and enhance cooperation among Financial Intelligence Units (FIUs). The new EU-level Anti-Money Laundering Authority (AMLA) will be the central authority coordinating national authorities to ensure the private sector correctly and consistently applies EU rules. AMLA will also support FIUs to improve their analytical capacity around illicit flows and make financial intelligence a key source for law enforcement agencies.

In particular, AMLA will:

  • establish a single integrated system of AML/CFT supervision across the EU, based on common supervisory methods and convergence of high supervisory standards;
  • directly supervise some of the riskiest financial institutions that operate in a large number of Member States or require immediate action to address imminent risks;
  • monitor and coordinate national supervisors responsible for other financial entities, as well as coordinate supervisors of non-financial entities;
  • support cooperation among national Financial Intelligence Units and facilitate coordination and joint analyses between them, to better detect illicit financial flows of a cross-border nature.

A Single EU Rulebook for AML/CFT

The Single EU Rulebook for AML/CFT will harmonise AML/CFT rules across the EU, including, for example, more detailed rules on Customer Due Diligence, Beneficial Ownership and the powers and task of supervisors and Financial Intelligence Units (FIUs). Existing national registers of bank accounts will be connected, providing faster access for FIUs to information on bank accounts and safe deposit boxes. The Commission will also provide law enforcement authorities with access to this system, speeding up financial investigations and the recovery of criminal assets in cross-border cases. Access to financial information will be subject to robust safeguards in Directive (EU) 2019/1153 on exchange of financial information.

Full application of the EU AML/CFT rules to the crypto sector

At present, only certain categories of crypto-asset service providers are included in the scope of EU AML/CFT rules. The proposed reform will extend these rules to the entire crypto sector, obliging all service providers to conduct due diligence on their customers. Today’s amendments will ensure full traceability of crypto-asset transfers, such as Bitcoin, and will allow for prevention and detection of their possible use for money laundering or terrorism financing. In addition, anonymous crypto asset wallets will be prohibited, fully applying EU AML/CFT rules to the crypto sector.

EU-wide limit of €10,000 on large cash payments

Large cash payments are an easy way for criminals to launder money, since it is very difficult to detect transactions. That is why the Commission has today proposed an EU-wide limit of €10,000 on large cash payments. This EU-wide limit is high enough not to put into question the euro as legal tender and recognises the vital role of cash. Limits already exist in about two-thirds of Member States, but amounts vary. National limits under €10,000 can remain in place. Limiting large cash payments makes it harder for criminals to launder dirty money. In addition, providing anonymous crypto-asset wallets will be prohibited, just as anonymous bank accounts are already prohibited by EU AML/CFT rules.

Third countries

Money laundering is a global phenomenon that requires strong international cooperation. The Commission already works closely with its international partners to combat the circulation of dirty money around the globe. The Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog, issues recommendations to countries. A country that is listed by FATF will also be listed by the EU. There will be two EU lists, a “black-list” and a “grey-list, reflecting the FATF listing. Following the listing, the EU will apply measures proportionate to the risks posed by the country. The EU will also be able to list countries which are not listed by FATF, but which pose a threat to the EU’s financial system based on an autonomous assessment.

The diversity of the tools that the Commission and AMLA can use will allow the EU to keep pace with a fast-moving and complex international environment with rapidly evolving risks.

Next steps

The legislative package will now be discussed by the European Parliament and Council. The Commission looks forward to a speedy legislative process. The future AML Authority should be operational in 2024 and will start its work of direct supervision slightly later, once the Directive has been transposed and the new regulatory framework starts to apply.

Background

The complex issue of tackling dirty money flows is not new. The fight against money laundering and terrorist financing is vital for financial stability and security in Europe. Legislative gaps in one Member State have an impact on the EU as a whole. That is why EU rules must be implemented and supervised efficiently and consistently to combat crime and protect our financial system. Ensuring the efficiency and consistency of the EU AML framework is of the utmost importance. Today’s legislative package implements the commitments in our Action Plan for a comprehensive Union policy on preventing money laundering and terrorism financing which was adopted by the Commission on 7 May 2020.

The EU framework against money laundering also includes the regulation on the mutual recognition of freezing and confiscation orders, the directive on combating money laundering by criminal law, the directive laying down rules on the use of financial and other information to combat serious crimesthe European Public Prosecutor’s Office, and the European system of financial supervision.

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