Joe Biden criticises leaders of China and Russia for not attending COP26 climate summit
November 3, 2021, 5:06 am

Joe Biden criticises leaders of China and Russia for not attending COP26 climate summit

Joe Biden-USA President-USA/Shutterstock

The BBC reported, US President Joe Biden has criticised the leaders of China and Russia for not turning up to the COP26 climate summit.

In a speech on Tuesday night, Mr Biden said climate was "a gigantic issue" and China "walked away" - adding it was the "same thing with Russia and Putin".

The BBC said that neither Russian President Vladimir Putin nor Chinese leader Xi Jinping are at the summit.

It mentioned that both countries however have sent delegations to the talks, which are due to run for two weeks until 14 November.

According to the BBC, China is the world's largest emitter of carbon dioxide, followed by the US. Russia is the fifth largest after the EU and India.

More than 120 leaders turned up at the conference in Scotland's largest city.

Countries have already announced major deals, including a global pledge to slash methane levels by 2030 as well as to end and reverse deforestation by the same year.

Both China and Russia are signatories of the pledge to reverse deforestation. Before Mr Biden's speech, Mr Putin virtually addressed a meeting on forest management at the COP26 summit on Tuesday, saying that Russia takes the "strongest and most vigorous measures to conserve" woodlands, according to a Kremlin press release.

The US president made his comments when asked about the role that other countries - including China, Russia and Saudi Arabia - have played in talks so far.

"The fact that China is trying to assert, understandably, a new role in the world as a world leader - not showing up, come on," Mr Biden said, adding that Xi Jinping's absence was a "big mistake".

He said the same about Mr Putin, saying that Russia's wilderness was burning and their president "stays mum" about the issue.

Mr Putin's spokesman Dmitry Peskov gave no reason why the Russian leader would not attend when they announced the decision in October, although he said climate change was an "important" priority for Russia.

The same month officials warned UK Prime Minister Boris Johnson that China's President Xi Jinping was not expected to attend. It is thought that President Xi has not left China since early 2020.

In September Mr Xi announced China will aim for carbon neutrality by 2060, with a plan to hit peak emissions before 2030.

President Putin said Russia would also strive to reach carbon neutrality "no later than 2060" in an international energy forum speech on 13 October.

Net zero, or becoming carbon neutral, means not adding to the amount of greenhouse gases in the atmosphere.

Source: BBC

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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.