Chancellor Rachel Reeves Announces Creation of Pension ‘Mega Funds’ to Fuel UK Infrastructure Investments
Chancellor Rachel Reeves Plans to Establish Large Pension Funds for Infrastructure Investment
Chancellor Rachel Reeves is proposing to model new pension fund aggregations after successful examples in Canada and Australia, aiming to boost investment levels. The government anticipates that this initiative could generate an additional £80 billion in funding.
Journalist specializing
Thursday, November 14, 2024, at 8
Government proposals aim to establish large-scale pension funds dedicated to boosting infrastructure spending.
According to Treasury proposals, changes could potentially release £80 billion in investments, with the strategy suggesting that consolidating into fewer, but bigger, funds may yield higher returns.
Chancellor Rachel Reeves is interested in adopting the models used by major pension schemes in Canada and Australia.
She highlighted that these changes represent the most significant overhaul of the pension market in many years, and she will reveal further information during her address at Mansion House on Thursday night.
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Close to 90 municipal pension funds are set to be consolidated, combining both defined contribution plans and their assets into a single pool.
This initiative is a component of the government's strategy to boost economic expansion by funneling investments into infrastructure.
According to governmental sources, pension funds see improved yields when their assets total between £20 billion and £50 billion, as this size enables them to diversify their investments more broadly.
The government points to data from Canada and Australia to support its claims, noting that Canada's programs allocate four times, and Australia's three times, the amount spent by the UK's defined contribution schemes on infrastructure investments.
Pensions Minister Emma Reynolds explained to Sky News that bigger pension funds have the capability to diversify their investments into various assets, such as private equity. These options carry more risk but can potentially yield greater returns over the long term.
She mentioned that while the government won't mandate pension fund managers to increase their investments in private equity, the expanded scale will permit them to diversify their portfolios with a wider variety of assets, similar to practices observed in Canada and Australia.
Ms. Reynolds pointed out that it's more common for educators from Canada or professors from Australia to have investments in UK infrastructure or burgeoning UK companies than for British savers themselves, which she believes is "incorrect."
The chancellor stated that the proposed adjustments would release tens of billions of pounds for investment in businesses and infrastructure, enhance retirement savings, and stimulate economic growth, thereby improving the prosperity of all regions across Britain.
Tom Selby, public policy director at AJ Bell, expressed concerns, stating, "We must tread carefully with the initiative to leverage individuals' capital for economic expansion. It's crucial that members are fully informed about the use of their funds."
According to the government, the Financial Conduct Authority will oversee the regulation of the funds, which must adhere to strict criteria to benefit savers effectively.
Discover more: Reeves set to introduce major changes to payment systems. Chancellor considers pension reform inspired by Canada. Reeves aims to attract Canadian pension funds in major overhaul initiative.
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Municipal retirement plans versus defined contribution schemes
By 2030, the Local Government Pension Scheme across England and Wales is projected to oversee assets totaling approximately £500 billion.
The management of these resources is divided among 86 distinct governing bodies, each overseen by local government representatives and council members.
According to proposed government measures, the oversight and investment decisions of local government pension schemes will be transferred from council members and local authorities to expert fund managers.
The government stated that this move will enable the investment of additional resources into infrastructure and other assets, promoting economic development and local investments for the benefit of the 6.7 million public employees.
By the close of this decade, assets managed by defined contribution pension plans are expected to reach £800 billion.
Approximately 60 distinct collective investment schemes exist, where participants' funds are allocated across various investment vehicles. The government plans to seek input on establishing a baseline size criterion for these funds.
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Companies wary, yet retirement funds support proposals
In the wake of the budget's repercussions, corporations will require confirmation that the government's strategies are foolproof, the Confederation of British Industry (CBI) has indicated.
Louise Hellem, the chief economist for the CBI, commented, "The chancellor's focus on driving investment through pension reform to aid the government's growth agenda is appropriate. However, fostering a competitive and profitable business environment is also crucial for unlocking further investment."
The recent budget increases expenses for businesses and limits their capacity to invest, prompting a need for the government to restore faith in the UK as a conducive environment for both businesses and communities to thrive.
"Pension plans thrive in a flourishing UK economic environment."
Stay informed with the most recent updates from the UK and globally by tuning into Sky News.
Major segments of the pension industry expressed support for the government's proposals, with endorsements coming from Standard Life, Royal London, Local Pensions Partnership Investments, and the Pensions and Lifetime Savings Association.
Deputy Prime Minister Angela Rayner stated, "We aim to unlock the vast potential of the pensions of millions of individuals and utilize it to positively enhance our economy."
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Health Secretary Orders Cost Review Amidst Assisted Dying Law Debate
Assisted dying: Wes Streeting initiates assessment of financial implications for legal amendment
The Health Department is set to evaluate the financial implications of introducing a contentious policy slated for discussion in Parliament in the coming weeks.
Political journalist @Journoamrogers
Wednesday, November 13, 2024, 5:
Health Secretary Wes Streeting has directed his department to conduct an analysis on the financial implications of amending the legislation to permit assisted dying.
Mr. Streeting, planning to oppose a significant bill, has expressed concerns that introducing a new assisted dying law might divert resources away from other NHS services.
As lawmakers consider their options, they will decide on whether to support a legal amendment in the upcoming vote later this month.
The bill introduced by Labour MP Kim Leadbeater, titled the Terminally Ill Adults (End of Life) Bill, proposes to allow terminally ill individuals who have six months or less to live the option to choose euthanasia.
Since the bill was revealed on Monday night, discussions have centered around its provisions, notably that patients must administer the life-ending medication themselves and that they be terminally ill with an expected lifespan of no more than six months.
Latest in politics: Farage ridiculed for his infrequent showing at PMQs following visits to support Trump in the US
Ms. Leadbeater, backed by ex-government minister Lord Falconer and ChildLine creator Dame Esther Rantzen, is confident that her proposed bill is the strongest globally and includes protections intended to comfort those who are undecided.
Further Discussion on Assisted Dying
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The rules stipulate that two autonomous physicians must verify a patient's qualification for assisted dying, and that approval from a High Court judge is required.
The Labour MP emphasized that allowing terminally ill patients to decide and self-administer the medication adds an additional layer of safety and protection.
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Several members of the cabinet, notably Mr. Streeting and Justice Secretary Shabana Mahmood, who would oversee the proposed legislation, have expressed opposition to the bill.
During the announcement, Mr. Streeting stated, "With the bill now public, I have directed my department to evaluate the expenses related to implementing a new service that would facilitate assisted dying. It is important to me that, irrespective of my personal views or how I may vote, my department and the entire government will uphold the decision of parliament should there be support for assisted dying."
Government agencies typically review the potential impacts of proposed laws to verify that any legislation approved by parliament is practical and enforceable.
Should the legislation be approved, it is anticipated that the Health Department will collaborate with Ms. Leadbeater to guarantee its practical applicability.
Ms Leadbeater expressed her disappointment with Mr Streeting's remarks, indicating to The House magazine that the health secretary's statements imply he might not have reviewed the bill thoroughly.
Stay updated on the most recent developments from the UK and globally by tuning into Sky News.
The health secretary has highlighted the possible financial burdens on the NHS, but his detractors argue that there could be cost reductions if patients require less medical intervention by opting to end their lives prematurely—an idea that Mr. Streeting has described as a "disturbing slippery slope argument."
He expressed concern that individuals might choose assisted dying to cut costs, either for their family members or for the NHS.
"I believe that this is one of the challenges that Members of Parliament are grappling with as they determine the way to place their vote.
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"This vote is unbound – the government maintains a neutral stance."
After addressing the NHS Providers conference in Liverpool, Mr. Streeting told journalists that introducing any new services would require "choices and trade-offs," as resources are limited and other priorities might be impacted.
"He said that this shouldn't be a reason for people to oppose it when voting."
"Individuals must consider this decision just as we are evaluating all other current options."
Discover further: Exploring the debate on assisted dying – what are the arguments and where is it permitted? Proposed NHS changes include scrapping planned salary increases for managers.
Members of Parliament are set to discuss and cast their votes on Ms. Leadbeater's Private Member's Bill on the 29th of November, marking the first time the Commons will vote on assisted dying since 2015.
The authorities have allowed members of parliament to vote independently on the matter, enabling them to make decisions based on personal conviction rather than party directives.
In 2015, legislation proposed by ex-Labour MP Rob Marris, which aimed to legalize assisted dying for those with terminal illnesses, was overwhelmingly rejected in the House of Commons, with 330 MPs voting against it and 118 in favor.
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Momentum Shifts in Assisted Dying Debate as Opponents Gain Ground and Streeting Faces Criticism
Critics of assisted dying feel they are gaining support, as Streeting is accused of exceeding his boundaries.
Legislators against assisted dying are convinced that undecided MPs are leaning towards rejecting the proposed law during its upcoming discussion in the House of Commons.
Political correspondent @Journoamrogers
Thursday, November 13, 2024, 11:
Sky News has gathered that Labour MPs against the legalization of assisted dying feel that support is increasingly leaning towards their position in the ongoing campaign.
Legislators are presently considering a potential amendment to legislation that would allow individuals with a terminal diagnosis and a life expectancy of six months or less the option to choose assisted dying.
During a parliamentary session on Wednesday, sources at Sky News reported that Labour MPs who were initially neutral about the bill now appear inclined to vote against it.
A Labour Party backbencher involved in coordinating support against the motion told Sky News, "The undecided voters are starting to lean towards our side, we believe."
According to the source, numerous new members of parliament who were still making up their minds voiced worries that there was insufficient time allocated for discussing the bill.
"They believe they are too inexperienced to be tasked with something so significant," they explained.
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Concerns raised about the proposed bill included the possibility that physicians could recommend euthanasia to sick patients, according to sources.
The source noted: "Our election mandate was to address NHS issues, not to focus on assisted dying."
"There's no reversing this decision—when in doubt, vote against it."
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The Terminally Ill Adults (End of Life) Bill, introduced by Labour MP Kim Leadbeater, is scheduled for discussion on November 29. On this date, MPs will participate in a "free vote," permitting them to vote based on their personal convictions rather than following party directives.
In a recent communication with government officials, Cabinet Secretary Simon Case conveyed that the prime minister had elected to "suspend the usual collective responsibility regarding this bill," and stated that the government would maintain a "neutral stance" on its approval and the issue of assisted dying.
Ever since its specifics were released on Monday night, the proposed legislation has sparked considerable discussion. Key points include the requirement for patients to self-administer the life-ending medication, and the stipulation that they must be terminally ill with a prognosis of death within six months.
Ms. Leadbeater, backed by ex-government minister Lord Falconer and ChildLine creator Dame Esther Rantzen, is confident that her proposed bill is the "strongest" globally and includes protections intended to "comfort" those who are undecided.
The requirements stipulate that the confirmation of eligibility for assisted dying must come from two independent physicians, and must also receive the endorsement of a High Court judge.
Stay informed with the most recent updates from the UK and globally by following Sky News.
The legislation also stipulates penalties of up to 14 years of incarceration for individuals who violate the law, specifically those who force or pressure someone into committing suicide or to consume substances that induce death.
She has also pointed out that requiring terminally ill patients to decide and take the medication themselves adds an additional layer of safety measures and protections.
Numerous members of the cabinet, such as Health Secretary Wes Streeting and Justice Secretary Shabana Mahmood, who would oversee the proposed legislation, have expressed their opposition to the bill.
Mr. Streeting, citing fears that individuals could be pressured into ending their lives, has declared his opposition to the bill and revealed plans for a study to explore the financial implications of legalizing assisted dying.
The Health Secretary cautioned that introducing a new assisted dying law might divert resources from other NHS services, implying potential compromises in different areas.
Government agencies routinely assess the potential impacts of proposed laws to guarantee that any legislation approved by parliament is practical and enforceable.
Sky News has learned that Ms. Leadbeater expressed her disappointment in response to Mr. Streeting's remarks regarding the legislation.
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Another Labour MP who supports the bill expressed to Sky News their belief that Mr. Streeting had gone too far.
"They suggested that it might be somewhat misleading," they noted.
"This will certainly turn heads – there's a difference between ringing the alarm bell and actively assisting the opposition."
The parliamentarian mentioned that although there seems to be a shift in momentum against us, much will depend on the discussions and exchanges that occur in the legislative hall.
"They also noted that some of the fear-inducing strategies could have the opposite effect."
"The game is far from over, though it's clear that the opposition is currently gaining ground."
Further details: Exploring where it is currently permitted and the reasons for the controversy. A report recommends banning heckling in parliament.
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An individual familiar with Mr. Streeting's approach informed Sky News, "Wes has handled the matter sincerely and thoughtfully, expressing his perspective while honoring the opinions of others."
Introduced by a backbench MP instead of a minister, this private member’s bill will have less time allotted for debate compared to a government bill. However, supporters argue that there is still the possibility for amendments and rejections during subsequent readings.
During the Prime Minister's Questions session on Wednesday, Conservative MP Sir Alec Shelbrooke raised concerns about whether sufficient time had been allocated for discussing the bill. He appealed to Sir Keir Starmer to dedicate two days, or 16 hours, of "protected time" for thorough examination and debate of the legislation prior to the vote.
Sir Keir responded, "I believe there is enough time devoted to this matter, although it is significant."
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Politics
Timothy West: From Portraying Churchill to Championing Labour – A Tribute to a Political and Theatrical Giant
Timothy West: Portrayed Churchill, Backed Blair
Timothy West may not have been a major financial donor to the Labour Party, but he was prominently recognized as one of the "Labour luvvies" who supported Sir Tony Blair and was a notable advocate for New Labour.
Principal political reporter @joncraig
Wednesday, November 13, 2024, 8:
Timothy West portrayed the iconic Conservative figure Winston Churchill in three separate roles, despite being a lifelong and devoted advocate of the Labour Party.
Together with his spouse and partner of six decades, Prunella Scales, he actively supported the Labour Party, becoming one of its most notable celebrity advocates.
Following Sir Tony Blair's overwhelming electoral win in 1997, a prominent circle of celebrity endorsers and key financial backers gained the nickname "luvvies for Labour".
Timothy West has passed away at the age of 90.
The entertainment industry was represented by notable figures such as theatrical producer Sir Cameron Mackintosh, actors Sinead Cusack and Jeremy Irons, along with Richard Wilson, renowned for his role in "One Foot In The Grave."
West and Scales may not have been recorded as top contributors to New Labour financially, but they were vocal supporters of Blair's administration and prominent figures in the activism scene.
In 2000, the duo starred in a glamorous event marking the 100th anniversary of the Labour Party, held at the Old Vic Theatre in London and hosted by the sitting prime minister.
The event was filled to the brim with party members and was hosted by comedian and actor Stephen Fry. Tony Robinson, best known as Baldrick from Blackadder, also participated.
The gathering commemorated the centennial of the establishment of the Labour Representation Committee in 1900. West delivered his speech against the backdrop of an oversized image of Aneurin Bevan, the socialist pioneer and architect of the NHS.
Stay informed on the most recent developments both in the UK and internationally by tuning into Sky News.
An unwavering
In his critique of West's memoir, "A Moment Towards The End of The Play," which came out in 2001, the actor Simon Callow commended West for his unassuming and humble approach to his activism.
"Callow noted in The Guardian that he has generously dedicated his time to various charities and causes he supports, although he is too humble to speak of it himself."
"He has consistently and resolutely backed the Labour Party."
"He and his wife Prunella Scales have consistently championed the cause of actors, participating in marches, signing petitions, and campaigning wherever necessary, always maintaining a sense of grace and humor."
Explore political updates: Prime Minister announces climate initiatives in Baku. Government seeks to enhance services through NHS performance rankings.
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The apple doesn't fall far from the tree, does it
Samuel West, the son of the couple and known for his role as the cantankerous Siegfried Farnon in Channel 5's All Creatures Great And Small, also ventured into political activism. However, unlike his parents, he did not support Sir Tony Blair.
During his time at Oxford University, he joined the far-left Socialist Workers Party and subsequently the Socialist Alliance. He was also a vocal opponent of Blair's New Labour government and the Iraq War.
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The legacy of the West family in acting continues, along with celebrities supporting the Labour Party, as stars such as Bill Nighy, Dame Imelda Staunton, Hugh Bonneville, and Keeley Hawes endorse Sir Keir Starmer in the current election campaign.
Timothy West is recognized by key members from the Blair era as a steadfast and devoted celebrity supporter of New Labour for numerous years.
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Government Urges Music Industry to Adopt Voluntary Ticket Levy to Bolster Grassroots Venues
Officials urge the music sector to implement a voluntary tax on tickets for stadium and arena events to aid local venues.
The Department for Culture, Media and Sport announced that ministers are eager for the industry to advance these suggestions promptly for upcoming events next year.
Journalist @niamhielynch
Wednesday, November 13, 2024, 11:
The administration is urging the music sector to implement an optional tax on stadium and arena concert tickets to support smaller, local music venues.
Officials anticipate that the music sector will swiftly implement their plans for next year's concerts, according to the Department for Culture, Media and Sport (DCMS).
The government contends that the most rapid and efficient method to direct funds from major performances to support the grassroots sector would be to implement a levy, led by the industry, incorporated into the ticket price.
"Officials have indicated their desire for the implementation of a voluntary charge at concerts starting in 2025. They emphasize the importance of transparently informing attendees about the reasons for this charge and its advantages for the grassroots sector," stated the DCMS.
In recent years, smaller entertainment spaces have faced challenges due to the pandemic and increasing inflation rates.
Several musical groups have begun contributing a portion of their concert revenue to support smaller performance spaces.
Enter Shikari contributed £1 from each ticket of their 2024 arena tour to the Music Venue Trust, and Coldplay has committed to giving 10% of their earnings from their next UK stadium tour to aid smaller music venues.
Further on Music
Tributes Pour In for Quincy Jones: Oprah Winfrey, Elton John, and Barack Obama Among Celebrities Honoring the Musical Icon
Ticket vendors might be required to disclose the highest prices to consumers following the backlash over Oasis's 'dynamic pricing'.
Eminem will soon be a grandfather as his daughter Hailie Jade announces she is expecting a baby
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Sir Chris Bryant, the Minister for Creative Industries, remarked, "The UK's grassroots music venues represent a profoundly valuable cultural resource that is often overlooked."
Discover more: Exploring the UK's music festival dilemma. On average, one independent music venue shuts down every week. What's behind the surge in concert ticket prices?
He went on to say, "These are the places where bands test out fresh tracks, where entirely new music styles emerge, where artists innovate, and where crowds witness the unfiltered force of live performances.
"These locations sustain thousands of employment opportunities and are crucial to the fabric of our local neighborhoods."
"A thriving local music scene is essential for the health of the broader music industry."
Stay informed about the most recent developments both in the UK and globally by tuning into Sky News.
Sir Chris stated: "This is why I am encouraging the industry to voluntarily implement a ticket surcharge on the largest commercial entities, to help guarantee the vitality and long-term prosperity of our whole live music industry for many years ahead."
The bipartisan committee responsible for culture, media, and sports, which originally proposed the plan, expressed approval of the ministerial backing but emphasized the need for a "strict deadline" for the industry to act before the government takes it upon itself to intervene.
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The panel announced plans to conduct a meeting with the industry in six months unless significant advancements are achieved.
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Steering Clear of Political Pitfalls: Labour’s Strategy to Dodge Democrats’ Dilemma Highlighted in Reeves’ Economic Address and Key Legislative Debates
What steps can Labour take to evade the same outcome as the Democrats?
Thursday, November 14, 2024, 07:54
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Sky News' assistant political editor Sam Coates and Politico's Jack Blanchard present a daily brief on forthcoming political events, all in less than 20 minutes.
Today, Rachel Reeves is set to deliver a speech at Mansion House focusing on economic expansion and reforms in pension funding. This comes as she seeks to regain her political momentum after facing several challenges in the wake of the recent budget announcement.
They also cover Health Secretary Wes Streeting's opposition to the assisted dying legislation and its chances of being enacted.
Additionally, they provide updates on what to anticipate from Donald Trump's administration as he reveals additional cabinet selections.
Reach out to Jack and Sam via WhatsApp at 07511 867 633, or contact them through email at jackandsam@sky.uk.
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Government Vows Action as Parents Desperate Over Baby Formula Costs Turn to Online ‘Foraging
Government commits to aiding families overwhelmed by soaring baby formula costs
Several parents have turned to sourcing baby milk through online communities due to the unaffordable prices of formula containers.
National reporter @TomSkyNews
Thursday, November 14, 2024, 10:
The administration has committed to increasing support for families who are deeply distressed by the skyrocketing costs of baby formula milk.
The issue of parents scrambling to find baby formula online was brought up in parliament following a demand by the Competition and Markets Authority for a major reform of the market last week.
Health Secretary Stephen Kinnock addressed the House of Commons, stating, "I recognize the difficulties numerous families face in affording their infant's nutrition, and the government is dedicated to assisting those families who are most in need of support."
"We are dedicated to tackling the issues identified by the CMA to ensure the infant formula market meets the higher standards that parents expect."
Over the past few years, there has been a 25% increase in prices, even though there have been minor decreases and the introduction of two new budget-friendly brands.
The CMA pointed out that this strictly controlled market is failing the parents who depend on it.
Stringent regulations prohibit businesses from advertising infant formula through discounts or promotional offers in an effort to support breastfeeding. According to the CMA, this has resulted in a lack of motivation among companies to compete based on pricing.
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On Wednesday, Chris Webb, the MP for Blackpool South, echoed the conclusions of a 2023 Sky News probe that revealed the concealed struggles numerous families are facing.
He informed the House of Commons, "We are witnessing a scenario that should be inconceivable in contemporary Britain: scavenging for baby formula.
"I often come across distressing messages on community message boards from parents desperately asking for infant formula to help them get by until their next paycheck. These parents are in absolute desperation. However, in their search for affordable or free formula, they face the danger of giving their children milk that might be expired, previously opened, or possibly contaminated with bacteria."
Discover additional details on Sky News: Apple faces lawsuit for iCloud utilization; Tragic death of baby red panda following fireworks display.
Stay informed about the newest developments in the UK and internationally by tuning into Sky News.
He repeated his demands for improved, unbiased information to convince parents that despite the price variation from £7 to £18 per container, all types of initial formula milk offer the same nutritional value.
"Being the parent of a nine-month-old, I understand the emotional challenges and complexities involved in feeding an infant. This stage is vital for a child’s growth," Mr. Webb noted.
During their initial year, infants typically triple their weight at birth, setting the stage for their lifelong health.
It's crucial for parents to have access to safe and reasonably priced food during their child's early years. Unfortunately, for numerous families, this isn't the case.
"He emphasized that it's a crisis in public health."
The Competition and Markets Authority is set to release its definitive findings on the baby formula industry at the beginning of 2025.
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Politics
EU Parliament Tackles Global Challenges: Niinistö Report, Deforestation Law, and Climate Goals on Agenda
EP TODAY
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Thursday, November 14
EU Readiness Amid Global Unpredictability: MEPs Deliberate on the Niinistö Report
At 9:00 AM, Sauli Niinistö, who previously served as the President of Finland, is scheduled to deliver a report outlining strategies for the European Union to enhance its proactive stance on preparedness and overall security. This initiative aims to shift the focus from simply responding to unexpected events to being better prepared in an increasingly unpredictable and crisis-filled global landscape. After Mr. Niinistö's presentation, Members of the European Parliament (MEPs) will engage in a discussion on the topic.
Janne OJAMO
Phone number: +32 470 89 21
Justice in Europe
Vote on Delaying Implementation of EU Deforestation Regulation
At 11:00 AM, members of the European Parliament will vote on whether to postpone parts of the EU's deforestation regulation. This law is designed to guarantee that products sold within the EU are not obtained from areas affected by deforestation globally. Various political groups have suggested amendments, such as introducing a new classification for countries deemed to have "no risk" of deforestation, which would entail more relaxed regulations.
Contact: Thomas Haahr, phone number: (+32) 470 88 09
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Ballots
COP29. At 11:00, the Parliament is set to cast votes on its expectations for the 2024 UN Climate Change Conference, known as COP29. In their proposed document, Members of the European Parliament (MEPs) are urging all nations to commit to establishing a new joint climate finance target for the period after 2025. Additionally, they are advocating for the swift elimination of both direct and indirect subsidies for fossil fuels, with a recommendation to redirect these funds to initiatives aimed at combating climate change.
In relation to Russia, Members of the European Parliament are scheduled to cast their votes at 11:00 AM on a proposed resolution concerning the European Union's approach to addressing the issue of Russia's covert fleet transporting crude oil. This resolution advocates for the implementation of more precise actions against these ships, alongside increased inspections. Additionally, it calls for consistent sanctions on vessels navigating EU waters without verified insurance.
You can watch the plenary session live through Parliament's online streaming service and on EbS+.
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Details about the plenary session are available here.
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Politics
EU-Parlament verschiebt Startdatum des Entwaldungsgesetzes: Unternehmen erhalten ein Jahr mehr zur Umsetzung
EU-Regelung zur Entwaldung: Unternehmen könnten mehr Zeit zur Umsetzung erhalten
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Die Einführung des EU-Entwaldungsgesetzes könnte um ein Jahr verschoben werden. Dies würde Unternehmen die Möglichkeit geben, sicherzustellen, dass ihre in der EU verkauften Produkte nicht aus entwaldeten Gebieten stammen.
In Brüssel hat das Europäische Parlament vorgeschlagen, das Inkrafttreten der EU-Entwaldungsverordnung um ein Jahr zu verschieben. Dies geschah als Antwort auf die Sorgen von EU-Ländern, Nicht-EU-Staaten, Händlern und Wirtschaftsteilnehmern, die befürchten, dass sie die Bestimmungen der Verordnung nicht vollständig umsetzen könnten, wenn sie ab Ende 2024 in Kraft treten würde.
In Oktober 2024 stimmte das Plenum dafür, den Vorschlag der Kommission nach dem Dringlichkeitsverfahren gemäß Artikel 170 Absatz 6 zu bearbeiten. Heute genehmigte das Plenum die Vertagung mit 371 Ja-Stimmen, 240 Nein-Stimmen und 30 Enthaltungen.
Ab dem 30. Dezember 2025 sind große Marktteilnehmer und Händler verpflichtet, die Bestimmungen dieser Verordnung zu befolgen, während Kleinst- und Kleinunternehmen bis zum 30. Juni 2026 Zeit haben. Diese Fristverlängerung ermöglicht es den betroffenen Unternehmen weltweit, die Vorschriften von Beginn an effektiv umzusetzen, ohne die Ziele des Gesetzes zu gefährden.
Das Parlament stimmte ebenfalls für weitere Änderungen, die von den Fraktionen vorgeschlagen wurden. Diese Änderungen beinhalten die Einführung einer neuen Kategorie von Ländern, die als „risikofrei“ in Bezug auf Entwaldung gelten. Diese neue Kategorie ergänzt die bereits bestehenden drei Kategorien: „geringes Risiko“, „normales Risiko“ und „hohes Risiko“.
In Ländern, die als "risikofrei" bewertet werden, weil ihre Waldflächen stabil bleiben oder zunehmen, sind die Vorschriften wesentlich lockerer, da kaum ein Risiko der Abholzung vorhanden ist oder gar nicht existiert.
The commission is required to complete a country-specific benchmarking system by June 30, 2025.
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Das Parlament entschied, das Dossier für Gespräche zwischen den Institutionen an den Ausschuss zurückzugeben. Damit die Änderungen wirksam werden, muss ein informeller Kompromiss später sowohl vom Rat als auch vom Parlament genehmigt werden. Danach erfolgt die Veröffentlichung im Amtsblatt der EU.
Background
The Food and Agriculture Organization of the United Nations (FAO) estimates that deforestation has resulted in the loss of 420 million hectares of forest between 1990 and 2020, an area larger than the European Union. Consumption in the EU accounts for around 10% of global deforestation, with palm oil and soy being responsible for over two-thirds of this impact.
Am 19. April 2023 hat das Parlament eine neue Verordnung gegen Entwaldung verabschiedet, die darauf abzielt, dem Klimawandel und dem Rückgang der Artenvielfalt entgegenzuwirken. Die Regelungen sollen die Abholzung verhindern, die durch den EU-Verbrauch von Produkten wie Rindfleisch, Kakao, Kaffee, Palmöl, Soja, Holz, Gummi, Holzkohle und bedrucktem Papier verursacht wird. Diese Verordnung ist seit dem 29. Juni 2023 in Kraft, und ursprünglich war geplant, dass Unternehmen die Vorschriften ab dem 30. Dezember 2024 umsetzen müssen.
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Thomas HAAHR
Thilo KUNZEMANN
Jakob FLOSSMANN
Andreas KLEINER
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EU-Parlament drängt auf härtere Sanktionen gegen Russlands gefährliche ‘Schattenflotte’: Ein Appell für striktere Maßnahmen und ein Importverbot russischer fossiler Brennstoffe
Parlament verlangt konsequente Maßnahmen der EU gegen Russlands „Schattenflotte“
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Abgeordnete des EU-Parlaments drängen auf stärkere Sanktionen der EU gegen Russlands sogenannte „Schattenflotte“, die als bedeutende Finanzquelle für Moskaus militärische Aktivitäten in der Ukraine dient.
Russlands sogenannte Schattenflotte bezieht sich auf den Einsatz von veralteten Öltankschiffen durch Moskau, deren Eigentumsverhältnisse oft unklar sind und die oft ohne Versicherung fahren, um trotz Sanktionen der EU, der G7 und anderer internationaler Gemeinschaften Rohöl ins Ausland zu liefern. Diese Operationen erhöhen das Risiko von Umweltkatastrophen, einschließlich schwerwiegender Ölunfälle. Im Rahmen der systematischen Anstrengungen, die Sanktionen der EU zu umgehen, dient die „Schattenflotte“ als entscheidende finanzielle Stütze für Russland in seinem illegalen und ungerechtfertigten Angriffskrieg gegen die Ukraine.
In einer am Donnerstag verabschiedeten Resolution hat das Europäische Parlament dazu aufgerufen, in den kommenden EU-Sanktionspaketen gezieltere Schritte gegen bestimmte Schiffe zu unternehmen. Diese Maßnahmen sollen sowohl die einzelnen Schiffe als auch deren Besitzer:innen, Betreiber:innen, Verwalter:innen, Konten, Banken und Versicherer umfassen. Die Abgeordneten verlangen zudem eine systematische Bestrafung von Schiffen, die ohne bekannte Versicherung durch die Gewässer der EU fahren. Gleichzeitig wird die EU aufgefordert, ihre Überwachungsfähigkeiten zu stärken, vor allem im Bereich der Drohnen- und Satellitenüberwachung, und gezielte Inspektionen auf See durchzuführen. Die Parlamentarier drängen die EU-Mitgliedsstaaten dazu, Häfen zu benennen, die in der Lage sind, sanktionierte Schiffe, die Rohöl und Flüssigerdgas (LNG) transportieren, abzufertigen und illegale Ladungen ohne Entschädigung zu konfiszieren.
Ende der Einfuhr russischer fossiler Energieträger in die EU
The resolution calls on the G7 countries to more effectively enforce the price cap on Russian oil transported by sea, significantly lower the oil price ceiling, and address loopholes that Russia exploits to transfer and sell its oil and petroleum products at market rates. Lawmakers emphasize that the benefits of the current sanctions against Russia, as well as the financial and military support for Ukraine, continue to be undermined as long as the EU imports Russian fossil fuels. They urge the EU and its member states to ban all imports of Russian fossil fuels, including liquefied natural gas (LNG). The legislators highlight the need for stricter enforcement of existing EU sanctions and call on the EU to seriously reassess its bilateral relations with third countries that assist Russia in circumventing these sanctions, should diplomatic efforts prove ineffective.
The proposed text will be made public on November 14, 2024. It was approved through a show of hands.
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Viktor ALMQVIST
Michaela FINDEIS
Andreas KLEINER
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Europäisches Parlament drängt auf globale Klimafinanzierung: Neue Ziele und gerechte Beiträge bei COP29 in Baku
COP29: Parlamentarier fordern weltweite finanzielle Beteiligung am Klimaschutz
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In Straßburg hat das Europäische Parlament entschieden, auf der COP29-Klimakonferenz der Vereinten Nationen ein gemeinsames Finanzierungsziel für Klimaschutzinitiativen zu etablieren.
Die vom Ausschuss für Umweltfragen, Volksgesundheit und Lebensmittelsicherheit erarbeitete Entschließung wurde am Donnerstag mit 429 Stimmen dafür, 183 dagegen und 24 Enthaltungen verabschiedet. Sie fordert alle Nationen auf, ein neues gemeinsames Ziel für die Klimafinanzierung nach dem Jahr 2025 zu vereinbaren. Dieses Ziel sollte sozial gerecht sein, das Verursacherprinzip berücksichtigen und sich auf unterschiedliche öffentliche, private und innovative Finanzierungsquellen stützen.
The lawmakers are calling for all major and developing economies with significant emissions and high GDPs to financially contribute to global climate protection efforts. They urge the EU to strengthen its green diplomacy to establish equal competition on an international scale, prevent the shifting of carbon emissions, and boost public support for climate action.
The European Union ought to encourage and assist other nations in setting up or enhancing carbon pricing systems, such as the EU Emissions Trading System and the new tool designed to prevent the shifting of CO2 emissions.
The COP29 climate conference should send a "clear message" following the COP28 commitment to move away from fossil fuels, the lawmakers urge. This includes the gradual elimination of all direct and indirect subsidies for fossil fuels as soon as possible.
Background
The 29th Conference of the Parties (COP29) is scheduled to occur in Baku, Azerbaijan, from November 11 to November 22, 2024. A parliamentary delegation is set to attend the event from November 18 to November 22.
Die COP29 hat das Ziel, den aktuellen Stand der Umsetzung des Pariser Abkommens zu bewerten und sich auf zusätzliche finanzielle Ressourcen zu verständigen, um weltweite Klimaschutzmaßnahmen zu fördern.
Contact:
Dana POPP
Thilo KUNZEMANN
Jakob FLOSSMANN
Andreas KLEINER
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Sue Gray Declines Starmer’s Envoy Offer After Exiting Chief of Staff Role Amid Political Turmoil
Sue Gray has turned down Starmer's job proposal following her resignation as chief of staff
Sources close to Ms. Gray informed Sky that she is not interested in the position of envoy for the nations, which was proposed to her after she resigned from her role as chief of staff amid several weeks of adverse reports.
Political correspondent @fayebrownSky
Tuesday, November 12, 2024, 4:
Sky News has learned that Sue Gray has turned down a recent job proposal from Sir Keir Starmer following her resignation from her role as his chief of staff, a position she held for only a few weeks after he assumed office.
The ex-chief political advisor has declined the position as representative for the countries and "will concentrate on different pursuits," a source close to her informed Sky News political editor Beth Rigby.
Live Politics Update: Starmer Unveils 'Staggering' Climate Goal
The source mentioned: "She has spent time carefully considering it and discussing it with interested parties, but in the end, she has chosen not to proceed."
Ms. Gray resigned from her position as Sir Keir's chief assistant last month following several weeks of unfavorable reports about her, including disputes regarding her pay.
Officials revealed that she had accepted the position of the prime minister's envoy for nations and regions, a role she expressed eagerness to embark on.
Despite her responsibilities, she failed to attend an important initial meeting pertinent to her latest role. Cabinet minister Pat McFadden explained to Sky News that she "had endured quite a bit" and was "on a brief hiatus."
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A representative from Downing Street stated that Ms. Gray chose not to accept the position following her hiatus, and she "remains appreciated by the PM for the assistance she offered."
Previously, an official informed Sky News, stating, "I believe it's the correct choice."
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Ms. Gray gained national attention following her investigation into gatherings at Downing Street amid the pandemic.
Her switch to the Labour Party immediately garnered media attention, with the Conservatives questioning the extent of her discussions with the party regarding a leading position while she was still employed as a civil servant.
An internal dispute ultimately led to her departure from the chief of staff position, as Labour's initial quarter in power was overwhelmed by a series of unfavorable news stories concerning her.
The conflict surrounding Ms. Gray's position intensified after her earnings, which at £170,000 surpassed the prime minister's by £3,000, were disclosed to the BBC, seemingly to undermine her politically.
The media outlet noted that lower-level employees expressed dissatisfaction over their salaries, which had not increased from the time Labour was in opposition, even though they now held higher positions in the government.
On stepping down on October 6, Ms. Gray stated that although serving as the chief of staff was a privilege, the growing scrutiny concerning her role threatened to overshadow the government's crucial agenda for reform.
"For this reason, I've decided to step down, and I am eager to keep supporting the prime minister in my new capacity," she stated.
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Prime Minister Keir Starmer Unveils Bold Climate Goals at Azerbaijan Summit Amid Strategic Shift to Two Core Priorities
Prime Minister unveils fresh communication approach with environmental declaration in Azerbaijan
Sir Keir Starmer is transitioning his focus from discussing his five governmental objectives to two main "priorities" – enhancing the economy and securing national borders.
Assistant Deputy Political Editor @SamCoatesSky
Tuesday, November 12, 2024, 6:
This week in Azerbaijan, Keir Starmer demonstrated his skill in tailoring his messages to suit various audiences.
Navigating the complexities of politics is crucial, and it appears that the latest team at Number 10 is starting to gain their footing as they tackle the difficult political terrain in their favor.
Live Politics Update: Starmer's Ex-Assistant Declines New Position
A fresh strategy was unveiled at the COP climate change conference in Baku.
The prime minister appeared, making a startling declaration that directly challenges the current mainstream political beliefs. Sir Keir showed up ready to unveil a more aggressive goal for tackling climate change in the UK, following two years in which the Tories scaled back their environmental commitments, assuming such actions aligned with the views of the British populace.
In a striking move, while Donald Trump dismissed climate change as a "hoax," a British prime minister took a more aggressive stance, pushing for the UK to cut 81% of its emissions by 2035. This target marks a considerable escalation from the earlier Conservative commitment to lower emissions by 67% by 2030.
This positions the UK among the leading nations in terms of demanding climate action goals. In Baku, this shift from one of the top leaders attending the conference marks a notable change and was immediately praised by environmental organizations.
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Today's climate announcement, while significant, is not without its challenges.
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Similar to a financial promise without allocated funds, there appears to be no defined strategy to achieve these increased goals. Sir Keir emphasized that he did not plan to dictate lifestyle changes to the public. Is he suggesting a hastened push for the public to abandon gas boilers, greater encouragement for the adoption of electric vehicles, or possibly some form of motivation to reduce meat consumption?
This message was complex to communicate. Therefore, Downing Street arrived with a unique strategy to present it to the domestic audience.
In conversations and public speeches, he shifted focus from setting new objectives and challenges to highlighting the "green opportunity." He emphasized that ambitious climate goals are propelling the shift toward renewable energy, which aligns with his economic agenda to stimulate growth.
It seems to be a component of a broader plan from Downing Street.
As he departed, Keir Starmer aimed to connect much of his ongoing initiatives to two central themes – enhancing economic development and securing the UK's borders. Consequently, environmental policies are now being framed in terms of promoting economic expansion to appeal more to voters.
This is part of a broader transition.
Instead of the five "missions" of the election campaign, which some top Labour officials acknowledged as obscure, all of Starmer's additional objectives are now encompassed within these two "priorities." These priorities, which are to enhance economic growth and strengthen border security, are topics we will frequently hear about moving forward.
The alignment of these two key concerns with the central messages of Donald Trump's campaign is certainly not accidental, though it would be an oversimplification to suggest they were directly taken from it.
Efforts to revamp the public discourse surrounding the missions have been underway since before the Labour conference in September.
This represents the newest attempt to streamline the Prime Minister's communication with the electorate. It remains to be seen how effective this strategy will prove to be in this region.
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