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The European Banking Authority (EBA) today published three final draft Regulatory Technical Standards (RTS) that provide a taxonomy for operational risk losses and offer clarity on the exemptions for the calculation of the annual operational risk loss and on the adjustments to the loss data set that banks must perform when merging or acquiring entities or activities.
The RTS on establishing a risk taxonomy on operational risk provide a list of operational risk event types, categories and attributes that institutions must use when recording operational risk loss events, in line with the current framework and the international standards.
The RTS on the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss recognise cases when it would be disproportionate for an institution to promptly calculate the annual operational risk loss. In such cases, the RTS allow for a temporary waiver from the requirement to calculate the annual operational risk loss.
The RTS on the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities provide indications on the currency and the risk taxonomy to be used when incorporating the loss data set of merged entities or activities, and provides guidance on how to calculate the annual operational risk loss when data on historical losses are not available.
Article 317(9) of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR), mandates the EBA to develop draft RTS to establishing a risk taxonomy on operational risk that complies with international standards and a methodology to classify the loss events included in the loss data set based on that risk taxonomy on operational risk.
The operational risk taxonomy represents a significant update of the operational risk loss events, featuring clearer definitions and enhanced descriptions. It aligns with industry’s best practices by capturing the attributes of loss events, which represent additional information on the nature of the losses that go beyond the event types and the categories.
Furthermore, the operational risk taxonomy is aligned with the definitions in the Digital Operational Resilience Act (DORA), allowing for a simpler management of the loss dataset. Finally, attributes on ESG are meant to complement the risk taxonomy, allowing institutions to add this piece of information to relevant operational risk losses.
Article 316(3) of the CRR, mandates the EBA to develop draft RTS to specify the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss.
Article 321(2) of the CRR3 mandates the EBA to draft RTS to determine the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities.
Unless an international agreement is inked, Plastic waste should triple by 2060, causing significant damage – including our health – according to the United Nations environment program (Dive).
The talks led by UNEP followed a decision in 2022 by the member states to meet and develop a legally binding international instrument to put an end to the crisis of plastic pollution, including in the marine environment in the two years.
The scale of the problem is massive, with straws, cups and agitators, transporter bags and cosmetics containing single -use microbead microbeads found in our oceans and discharge sites.
Supporters of an agreement have compared it to the Paris climate agreement in terms of meaning. They also underlined the pressure which claims to be exerted against an agreement by Petrostats, whose crude oil and natural gas provide the constituent elements of the plastics.
“We will not recycle the crisis of plastic pollution: we need a systemic transformation to reach the transition to a circular economy”, “ The Executive Director of UNEP, Inger Andersen, insisted.
The purpose of the agreement is that it encompasses the full life cycle of plastics, from design to production and elimination “To promote plastic circularity and avoid plastic leaks in the environment”,, According to the text used to guide the talks of the Rally of the Intergovernmental Negotiation Committee (INC) in the Swiss City.
At 22 pages, the Document Inc Contains 32 projects of articles that will be discussed online. The text is designed to shape the future instrument and will serve as a starting point for negotiations.
During 10 days from August 5 to 14, delegations from 179 countries are due to pores on the INC text while they meet in the UN Geneva, alongside more than 1,900 other participants of 618 observers’ organizations, including scientists, environmentalists and industry representatives.
One of the main objectives of Reunion is to share proven and tested means of reducing the use of plastic such as non -plastic substitutes and other safer alternatives.
Before the talks in Geneva, the medical journal respected The Lancet published a warning that the materials used in plastics cause an extensive disease “at each stage of the plastics life cycle and at each stage of human life”.
According to more than two dozen health experts cited in the journal, infants and young children are particularly vulnerable. “Plastics are a serious, growing and under-regulated danger for human and planetary health” and are responsible for economic losses related to health exceeding $ 1 · $ 5 billion per year, “he noted.
To follow discussions on live plastic pollution on the UN Web TV, click here: https://webtv.un.org/en/asset/k16/k16cqrvu2w
Directing talks in Geneva is Jyoti Mathur-FilippExecutive secretary of the Intergovernmental (or Inc) negotiation committee on plastic pollution and head of the secretariat of the inc.
“Just in 2024, humanity was to consume more than 500 million tonnes of plastic. From this, 399 million tonnes will become waste, “she said.
The latest forecasts indicate that plastic leaks in the environment will increase by 50% by 2040. “The cost of damage caused by plastic pollution could increase as high as a cumulative of 281 billions of dollars between 2016 and 2040,” she said.
The road to an international agreement:
Five negotiation sessions to a plastic treaty have been held so far:
Originally published at Almouwatin.com
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Area of Freedom, Security and Justice
International protection: the designation of a third country as a ‘safe country of origin’ must be amenable to effective judicial review
Alace Area of Freedom, Security and Justice International protection: the designation of a third country as a ‘safe country of origin’ must be amenable to effective judicial review Source link
The encounter offered an opportunity to showcase how EU-backed innovation can drive local change, empower young talent, and offer tangible solutions to environmental challenges.
Remonda is led by a dynamic team of young female innovators, Monica, Celia and Marina, who are transforming a local challenge into a sustainable opportunity. Inspired by the vast number of orange trees in Seville – which produce nearly six million kilos of oranges each year – the team has developed a process to convert discarded orange peels into biodegradable bioplastics.
The project emerged from a Climathon in Seville, a local innovation event organised under the umbrella of Climate-KIC. From this initial spark, the team went on to receive recognition through the EIT Community New European Bauhaus Ideation Awards, where Remonda won the Audience Award in 2022. Supported by the EIT Community, Remonda is now developing a minimum viable product and conducting further research to scale up its impact.
As part of Europe’s largest innovation ecosystem, the EIT Community brings together more than 2 400 partners across 70+ hubs, enabling ventures like Remonda to grow from grassroots ideas into real-world solutions. The visit from President von der Leyen highlights how EIT-supported initiatives are contributing to a greener, more resilient Europe – one peel at a time.
During her recent visit to the Joint Research Centre in Seville, European Commission President Ursula von der Leyen was introduced to Remonda, a circular economy initiative supported by the EIT Community New European Bauhaus. The encounter offered an opportunity to showcase how EU-backed innovation can drive local change, empower young talent, and offer tangible solutions […]
More than 1,180 cases of cholera-including around 300 in children-and at least 20 deaths were reported in Tawila, a city that has absorbed more than half a million people fleeing violence since April.
In the wider region of Darfur, the toll is even more alarming: nearly 2,140 cases and at least 80 deaths on July 30.
“” Despite being avoidable and easily treatable, cholera tears Tawila and elsewhere in Darfur, threatening the lives of children, especially the youngest and most vulnerable, »» said Sheldon Yett, Unicef Representative in Sudan.
With bombed hospitals and numerous health establishments have been closed, Tawila – located just 70 kilometers from the capital of the besieged state El Fasher – has become a flash point of crisis.
A limited access to drinking water, poor sanitation and overcrowded camps has created ideal conditions for the disease to spread.
The cholera epidemic takes place on a backdrop of Deepening of the disaster. Since the war between the rival soldiers broke out in April 2023, critical infrastructure was decimated, moved millions and dismantled food systems.
Famine has already been declared in at least 10 locations, including the vast Zamzam camp, with more than a dozen additional risk areas.
The extreme vulnerability of Sudan to climatic shocks – from droughts to devastating floods – has further aggravated the crisis, leaving families to navigate in the deadly intersection of conflicts, hunger, disease and environmental collapse.
Over 640,000 children under the age of five in northern Darfur are now in danger. Recent assessments show that the number of children with severe acute malnutrition in the region has doubled in the past year.
“” Children whose bodies are weakened by hunger are much more likely to contract cholera and die,”Unicef warned.
“” They cannot wait one more day.“”
UNICEF urgently calls on all parties to ensure sustained, safe and unhindered humanitarian access. Bureaucratic delays, looted help convoys and active fights have hampered the delivery of vital supplies, including vaccines, therapeutic foods and medical kits.
The agency increases its emergency response to Tawila and through Darfur, distributing oral rehydration salts (gold), chlorinated water and hygiene kits.
Nearly 30,000 people in Tawila now have daily access to drinking water, while awareness teams sensitize prevention and early treatment.
To support long -term containment, UNICEF plans to provide more than 1.4 million doses of oral cholera vaccinations and to strengthen treatment centers.
Additional supplies – soap, latrine slabs, plastic leaves – are being prepared, although access remains the largest obstacle.
Since the epidemic was officially declared in August 2024, more than 94,000 cases of cholera and more than 2,370 deaths have been reported in 17 of the 18 states of Sudan. UNICEF says it urgently requires $ 30.6 million to finance its response to emergency cholera.
Originally published at Almouwatin.com
More than 20 heads of state and government and some 3,000 delegates from international organizations, civil society, young people, the academic world and the private sector should attend the conference.
UN News is on the ground in Awaza, reporting on the event as it takes place.
During the increase in the flag, the Minister of Foreign Affairs, Rashid Meredov, officially welcomed the participants. “” Welcome to Awaza. I wish all participants in the conference,He said.
A high representative Rabab Fatima expressed his hope that The rally would help “strengthen and expand partnerships between nations”.
The opening ceremony on Tuesday will be assisted by the UN Secretary General António Guterresarriving from Almaty, Kazakhstan, where he radius at the new center for Sustainable development objectives For Central Asia and Afghanistan.
The UN Secretary General António Guterres (Center), alongside the Deputy Prime Minister and Minister of Foreign Affairs Murat Nurtleu (left), and permanent representative of Kazakhstan at the UN Kairat Umarov (right), arriving in Almaty, Kazakhstan.
“” This center symbolizes the new era of cooperation in Central Asia – based on priorities and shared solutions” he said.
Warning of “complex and interconnected challenges”, in particular poverty reduction, increased hunger and acceleration of climate impacts, he stressed that Central Asia is already experiencing glaciers to the merger, the narrowing of water and increasing commercial barriers.
The center, he added, can become “a vital pioneer” for the implementation of the action program for developing countries without coastline, transforming geographic constraints into opportunities by regional cooperation.
Awaza, a national tourist area on the Caspian coast of Turkmenistan, has been transformed into a global forum.
The final deliveries of water stations, safety scanners, screens and technical equipment continued on Sunday in the large sports complex that has become a place of conference. The United Nations technical staff and local teams worked 24 hours a day to organize cameras, plenary rooms and logistics for dozens of secondary events.
“A massive preparatory effort was made jointly with the UN to create the conditions necessary for delegates and all participants,” said Aksoltan Atayeva, permanent representative of Turkmenistan at the UN. “We take our responsibility seriously and do everything possible to ensure the best conditions and successful work.”
The final preparations underway on the LLDC3 conference site in Awaza, Turkmenistan.
In a neighboring pavilion, countries have prepared exhibitions highlighting the progress of transport, energy and communications.
“The railway of Kazakhstan-Turkmenistan-Iran and the Turkmenistan-Afghanistan-Pakistan-Inde gas pipeline are among the key projects,” Annaberdi Kashanov told Turkmenistan Pavilion UN News.
There is 32 landlocked developing countries Around the world, which houses more than 500 million people. Many are also among the least developed countries in the world, faced with structural challenges such as high transport costs, access to the market and vulnerability to climatic shocks.
Robust infrastructure and improved connectivity remain essential to overcome these obstacles, facilitating trade and integration in the global markets.
The LLDC3 conference aims to promote global partnerships to accelerate inclusive and sustainable development.
Originally published at Almouwatin.com
Movement is the last consequence of an emergency cascade that overlap in the country – including armed violence, climate shocks, disease epidemics and a lack of serious funding. Since January, more than 95,000 people have fled insecurity in Cabo Delgado and humanitarian access has become more and more fragile.
According to the United Nations Office for Humanitarian Affairs Coordination (Ochha), the attacks of armed groups between July 20 and 28 triggered the displacement of at least 46,667 people in the districts of Chiúre, Ancuabe and Muidumbe.
Chiúre was the hardest shot, with more than 42,000 uprooted people – more than half of them.
“” Insecurity persists and people in moving often lack civil documentation,“Ocha said in a humanitarian bulletin SATURDAY. “” These challenges may have an impact on the ability of displaced people to move freely and access basic services in complete safety and maintain their livelihoods.“”
The attacks in Chiúre Velho, Ocua and Mazeze led families to Chiúre Sede, where they were sheltered in overcrowded conditions in the districts of Bairro Micone and Barro Namicir. The reports indicate a high number of unaccompanied or separate children.
Food, refuge and essential non -food items are reported as the most urgent needs, according to humanitarian partners.
The security situation in the Ancuabe district has also deteriorated quickly. According to the United Nations International Organization for Migration (Iom), the number of displaced families has almost tripled in a week, reaching 444 households (1,946 people), including more than 1,200 children. Violence forced residents of the village of Nanduli to take refuge in Chiote and Ancuabe Sede.
In Muidumbe, fighters would have burned houses in the village of Magia and would have opened fire near Mumane. Nearly 500 families fled to nearby travel sites, where humanitarian access remains limited.
The OCHA stressed that by virtue of international law, civilians must be authorized to seek security and to freely choose their destination. But insecurity, lack of documentation and involuntary relocations are risks of aggravating protection.
At the same time, The response of the help remains sub-finance.
In July, only 19% of the Mozambique humanitarian response plan in 2025 was funded. Of the 352 million dollars requested, only $ 66 million have been received – forcing agencies to reduce their response targets by more than 70%. They now aim to help only 317,000 people, against the target of 1.1 million at the start of the year.
“” Urgent and sustained funding is essential to prevent additional deterioration and meet the growing humanitarian needs which remain as acute and widespread as ever,“The ochha report warned.
Originally published at Almouwatin.com
