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IsDB launches innovation platform to accelerate economic growth in developing countries

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The Islamic Development Bank (IsDB) – one of the world’s largest multilateral  development  banks  –  has  launched  Engage,  a  new  digital  platform  which  will promote technological and scientific solutions to accelerate progress towards the Sustainable Development Goals (SDGs).

The President of the IsDB, Dr. Bandar Hajjar, announced the launch of Engage at an event hosted  at  Bloomberg’s  European  Headquarters  in  London,  alongside  the  Under-Secretary- General of the United Nations and Executive Secretary, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Dr. Shamshad Akhtar, Dr. Hayat Sindi, Chief Scientific Advisor to the IsDB and a group of business, innovation and development experts.

The IsDB has launched Engage in recognition of the crucial role that science and technology play in  enabling  the Global Goals.  The Engage platform will create  a global  innovation network, connecting the latest scientific and technological knowledge with market opportunities and funding. It will provide a space for innovators to interact with each other and incubate unique ideas that can be translated into real development solutions.

Speaking at the launch event, H.E. Dr. Bandar Hajjar, President of the Islamic Development Bank said: “The Islamic Development Bank understands the need to innovate and collaborate across all sectors to help build capacity within countries to address their own development requirements. Engage will provide the right tools and a supportive environment, so innovators and businesses can harness the great potential of science, technology and innovation as strategic drivers for economic growth among their local communities.”

Dr.   Hayat   Sindi,   Chief   Scientific   Advisor   to   the   President   of   the   Islamic Development Bank said: “Engage offers three main services: match-making, technology transfer and Calls for Innovation. Through Engage, innovators, SMEs, private sector companies, Governments and NGOs will benefit from tailored mentoring services and expert knowledge- sharing  that  will  help  activate  their  ideas  and  proposals  to  an  internationally  recognised standard.”

The platform will focus on six SDGs, specifically working towards achieving greater food security, healthier lives, inclusive and equitable education, sustainable management of water, access to affordable and clean energy, and sustainable industrialisation across the developing world; ultimately helping to improve the lives of millions of people.

Dr. Shamshad Akhtar, Under Secretary General of the UN and Executive Secretary ESCAP said: “Engage and Transform will power the policy shifts needed for science, technology and innovation to have a positive impact, not just on our economy, but on our society and the environment.  The initiatives will also spur a new era of open and collaborative innovation to ensure no country is left behind in the technological revolution.”

She added, “The partnership agreement between IsDB and ESCAP will bring together the skills and sources of capital needed to support innovation solutions for sustainable development.”

To ensure its members have access to financing for innovation, the Islamic Development Bank has established a new Fund – The Transform Fund – which will finance innovative ideas linked to development solutions. It will provide seed money for innovators, start-ups and SMEs, as well as funding   partnerships   between   researchers   and   entrepreneurs   that   will   tackle development challenges in line with the SDGs.

The event also saw the signing of two landmark MoUs by the IsDB. The first, with the United Nations ESCAP, committing to build a global network of scientists, technologists, innovators, entrepreneurs and investors; and to nurture and scale high potential innovations  to achieve sustainable and inclusive development.

The second, with the Shell Foundation, an independent UK-registered charity, is a commitment to  share  market  insight  and  investment  opportunities  to  support  social enterprises  that  are providing energy access and affordable transport for people in low-income areas. By providing critical early-stage support to pioneer innovators, the partners aim to lift millions of people out of poverty and improve their quality of life.

Mr. Sam Parker, Director of the Shell Foundation, said: “Most innovators lack the capacity, risk capital and market connections to build sustainable businesses and attract commercial funding to scale. Over the last two decades we have worked with entrepreneurs to prove that the private sector can deliver essential goods and services to low-income customers: enhancing access to energy, education, healthcare and employment. We are delighted to partner with  IsDB  to  show  how  foundations  and  development  banks  can  provide  and  leverage  this support, as a cost-effective way to achieve the SDGs.”

The Engage platform was developed for IsDB by Nordic Innovation Accelerator Ltd. Nina Harjula, Chairman of the Board of the NIA said: “We are pioneers of Open Innovation platforms and for us building a global reach has been the mission from the beginning. We are thrilled to work with IsDB especially since this is the first collaboration to reach innovators from the developing communities. To reach the sustainable development goals we need to engage innovators globally and ensure that their business ideas and tested and scalable sustainable solutions find their way faster to places where the demand and markets are.”

H.E. Dr. Bandar continued: “We recognise that ideas can come from anywhere, but ideas need to be nurtured so they can grow into long-term projects that can make a lasting difference to the world. We are grateful to our partners at UN ESCAP and the Shell Foundation for their support and look forward to collaborating with many more companies, entrepreneurs, investors, governments, academics and NGOs as we focus on the importance of investing in science, technology and innovation.

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Environment

GHG emissions from pyrolysis are nine times higher than in mechanical recycling

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New study published today by Zero Waste Europe (ZWE) finds that greenhouse gas emissions from pyrolysis of plastic packaging are nine times higher than that of mechanical recycling. The “Climate impact of pyrolysis of waste plastic packaging in comparison with reuse and mechanical recycling” study is based on the estimated future recycling content targets in plastic packaging.

BACKGROUND: In the context of the revision of the Packaging and Packaging Waste Directive (PPWD), the European Commission (EC) assigned the independent consultancy Eunomia to consider the possible introduction of recycled content targets for plastic packaging by 2030. Based on the estimated future recycling content targets in plastic packaging, Eunomia determined to recycle quantities that must come as outputs from chemical recycling or mechanical recycling. Chemical recycling, in this case, means thermo-chemical (i.e. pyrolysis) recycling.

With this study, commissioned by ZWE and Rethink Plastic alliance to Öko-Institut, we calculated the impact of Eunomia’s proposed scenario regarding greenhouse gas (GHG) emissions and carbon loss. The study compares seven scenarios to meet the projected recycled content target by 2030, and puts them into perspective with the Paris Agreement commitments to limit global warming to 1.5 degrees Celsius. 

The study found that: 

  • Pyrolysis GHG emissions are nine times higher than those in mechanical recycling – in all scenarios considered over 75% of greenhouse gas emissions are attributable to chemical recycling;
  • Over half of the carbon content of plastic is lost in the pyrolysis process and has to be replaced by new plastic;
  • Mechanical recycling must be prioritised over pyrolysis wherever possible –  shifting 30% of the production attributed to chemical recycling by Eunomia to mechanical recycling would reduce GHG emissions by 31%;
  • Combining shit to more mechanical recycling together with a reduction of 20% of packaging would result in a 45% reduction of GHG emissions compared to the “chemical recycling scenario”.
  • Combining mechanical and chemical recycling to transform plastic waste into recyclate avoids the GHG emissions associated with the use of primary plastic.


ZWE’s Chemical Recycling and Plastic-to-Fuel Policy Officer, Lauriane Veillard says: “The revision of the PPWD should serve as a lever to make the packaging sector more circular and be in line with European climate commitments to limit Global Warming to 1.5 Degrees Celsius. There are other ways than pyrolysis for contact-sensitive materials. The climate impact of the managing pathways should be considered when setting targets. The revision is the opportunity to rethink the overall volume and the use we make of plastic packaging.“

With this in mind, ZWE urges the European Commission (EC) to consider the reports’ findings in the upcoming revision of the PPWD and to:

  • Introduce legal safeguards to prioritise mechanical recycling over pyrolysis;
  • Consider the climate impact of different recycling technologies when settings targets for recycled content;
  • Incentivise measures such as design for recycling and innovations along the plastic packaging value chain to facilitate mechanical recycling.

Lauriane Veillard adds: “If we are serious about achieving net-zero emission economy, mechanical recycling must be preferred over pyrolysis. However, this cannot be achieved unless legal safeguards as part of the P&PWD revision are introduced to prioritise mechanical processes for recycling packaging waste complemented with ambitious prevention and reuse targets”. 

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Finance

Rwanda: Boosting Exports Through Technology, Innovation, and Trade in Services

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Released today, the new Rwanda Economic Update finds that, after a strong economic recovery last year, Rwandan GDP growth is expected to be moderate in 2022 due, in part, to the effects of the war in Ukraine and the persistent risk of the COVID-19 pandemic in major economies.

 According to the 19th edition of the Rwanda Economic Update (REU19) titled Boosting Exports Through Technology, Innovation, and Trade in Services, GDP growth is projected at 6% for 2022, after reaching 11% in 2021. Inflation continues to mount as increases in international commodity prices and the disruption of global supply chains have led to substantial increase in energy, transport, and food prices.

 “The mounting inflation in Rwanda, which comes at the time when employment has not yet recovered to its pre-pandemic level, has the potential to undo hard-won achievements in terms of poverty reduction and human capital development. Government interventions to protect the most vulnerable, building on the country’s social safety nets continue to be critical,“ said Rolande Pryce, World Bank Country Manager for Rwanda.

In its special focus on trade, the report gives an insight into Rwanda’s export performance. The REU19 notes that Rwandan firms have increased their participation in international trade (particularly in services) over the last decade, to levels exceeding that of regional and continental peers. Discussing the main drivers of trade performance, the report highlights that securing a certification for an international quality standard, such as the International Organization for Standardization (ISO) certificate, is a critical factor in facilitating firms’ participation in international trade. Firms with ISO certification are 36% more likely to be exporters. However, this remains a major challenge for Rwanda as only 3% of Rwandan firms had obtained ISO certification in 2019.

The REU19 also shows a significant correlation between the adoption of e-commerce in Rwanda and the participation in international trade and noted its limited use by Rwandan firms.

The strong link between e-commerce and exporting, and the lack of information regarding foreign markets regularly cited by firms in Rwanda, suggests investment in internet infrastructure can provide isolated enterprises, such as those in rural and underdeveloped urban areas, low-cost connectivity to markets and customers, and increase local firms’ participation in international trade,” said Calvin Djiofack, World Bank Country Economist .

According to the REU19, Rwanda has placed great emphasis on services development to raise employment, income, and export earnings. Yet, the country is facing a skills deficit that, if not addressed, will constrain potential growth for high-skill services exports.

One of the measures the report recommends to boost openness to trade in services, is for Rwanda to address its skills shortage in the short-run by recognizing qualifications of regional professionals, and abolishing work-permit regimes for them.

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World News

Lavrov: Russia had ‘no choice’ but to launch ‘special military operation’ in Ukraine

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Foreign Minister Sergey V. Lavrov of the Russian Federation addresses the general debate of the General Assembly’s seventy-seventh session. UN Photo/Cia Pak

Faced with the “inability” of Western countries to negotiate and the Ukrainian Government’s “war against its own people” in the east, Russia had “no choice” but to launch what the Government refers to as its special military operation, Foreign Minister Sergey Lavrov told the UN General Assembly on Saturday.

The operation launched on 24 February had been carried out to protect Russians living in Ukraine’s Donetsk and Luhansk regions, and eliminate threats to Russian security, said Mr. Lavrov, that the EU and United States-led NATO military alliance had consistently created in the territory, since what he described as the “bloody coup” by the current “Kyiv regime”, in 2014.

“I am convinced that any sovereign, self-respecting State would do the same in our stead, which understands its responsibility to its own people.”

‘Throwing a fit’

Mr. Lavrov accused the West of “throwing a fit” over this weekend’s referenda being conducted in the Donbas and other Russian-controlled areas on becoming a part of the Russian Federation, countering that people there were simply following an order from Kyiv, to “get out and to go to Russia”.

The Russian Foreign Minister said the crises surrounding the war were growing, and the international situation was rapidly deteriorating, but instead of having an honest dialogue and searching for compromise, the West was “undermining confidence in international institutions” and encouraging negative tendencies within the United Nations as well.

He said the United States was trying to turn the whole world into its “backyard”, and together with its partners, punishing dissenters from its world view, through what he called “illegal unilateral sanctions” which violate the UN Charter, and hurt poor citizens in poorer countries, targeting their medicines, vaccines and food imports.

‘Provocations’

Attempts by the US to impose dividing lines, telling nations “you’re either with us or against us”, meant that instead of “honest dialogue” there was instead “disinformation, crude staging, and provocations”.

He praised the UN Secretary-General for mobilizing efforts to overcome the global food and energy crisis fuelled by the war but blamed the West for economic mismanagement in the pandemic, claiming that sanctions against his country amounted to an “economic war against Russia.”

He praised the Black Sea Grain Initiative to free up food and fertilizer from Ukraine, and Russia, to alleviate price inflation and supply, but said the poorest countries were still not benefitting, and again criticized the US and EU for not fully removing “obstacles” to Russian exports he said were trapped in European ports.

‘Russophobia’ claim

Mr. Lavrov told the Assembly that there was now a “crusade by the West against the objectionables”, with NATO seeing Russia as simply a threat to its domination of the region and beyond.

Furthermore, Russophobia, he said, had reached unprecedented proportions, with Western powers making no secret of their ambition to militarily defeat Russia, and try to “destroy and fracture Russia…What they want to do is to remove from the global map, a geopolitical entity, which has become all too independent.”

He warned countries beyond Europe and North America, that the Western alliance, in an effort to impose its will, was seeking to expand influence and hegemony further into Asia, South America, and Africa, and ended his remarks by quoting the hugely influential and charismatic second UN Secretary-General, Dag Hammarskjöld:

Save humanity from hell

“The UN wasn’t created to take mankind to paradise, but rather to save humanity from hell. These are very topical words. They call upon us, to understand our individual and collective responsibility for creating conditions for a peaceful and harmonious development for our future generations, and everyone needs to show political will for that.”

Ending his speech on a conciliatory note, and a nod to a brighter future for multilateralism, he said he was convinced that the stability of the world order could be ensured, by returning to “the origins of UN diplomacy”, based on the key principle of “sovereign equality of States”.

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