Boris Johnson warns climate targets tough to secure before COP26 summit
September 20, 2021, 4:57 am

Boris Johnson warns climate targets tough to secure before COP26 summit

UK PM-Boris

The BBC reported, the UK Prime Minister has said, there is a "six out of 10" chance of getting other countries to sign up to financial and environmental targets ahead of November's key COP26 climate change conference.

According to the BBC, Boris Johnson is in the US for a UN meeting where he will urge leaders to take "concrete action" on the issue.

However, Johnson said it would be "tough" to persuade allies to meet their promise to give $100bn a year to developing nations to cut carbon emissions.

The BBC mentioned, the UK is hosting COP26 in Glasgow.

With some 100 world leaders expected in New York at the UN General Assembly this week, Mr Johnson will seek to galvanise action during a series of high-level meetings.

Speaking during his flight Mr Johnson told reporters: "I think getting it all done this week is going to be a stretch. But I think getting it all done by COP, six out of 10.

"It's going to be tough but people need to understand that this is crucial for the world."

Downing Street has said developed countries have "collectively failed" on their $100bn (£73bn) target, with OECD figures last week showing that only $79.6bn in climate finance was mobilised in 2019 .

Read more: North Korea says Aukus deal could trigger ‘nuclear arms race’

COP26 president Alok Sharma, who is with the PM, earlier revealed that Chinese President Xi Jinping has not yet committed to attending the conference.

Mr Johnson said Mr Sharma had had "some great conversations already with his Chinese counterparts about the things they want to do".

"I think China is massively important to this and I think China shows real signs of making progress," he added.

Mr Johnson also insisted new International Development Secretary Anne-Marie Trevelyan would do an "outstanding job" after social media posts emerged showing her previously denying climate change.

Read more: UK government to hold talks with gas suppliers over gas price rises

"I don't want to encourage you but if you were to excavate some of my articles from 20 years ago you might find some comments I made... about climate change that weren't entirely supportive of the current struggle," he said.

"But the facts change and people change their minds and change their views."

Mr Johnson will also travel to Washington where he will meet US President Joe Biden in the White House for the first time.

The prime minister is likely to push for a restoration of UK-US travel, with Mr Biden's administration having maintained a ban despite travel restrictions being eased elsewhere.

Source: BBC

North Korea says Aukus deal could trigger 'nuclear arms race' UK seeks to break down digital trade barriers

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.