Fintech PR
Scaling Global Resilience: New Report Highlights Increasing Momentum for Evidence-backed Solutions
- The Resilience Evidence Forum (REF) 2023 Synthesis Report released, serving as a comprehensive guide to resilience-building methodologies and evidence.
- The report underscores the pivotal role of high-quality evidence both in mobilising the large-scale financing needed and informing and catalysing the policy changes essential for building resilience.
- The Report summarises key discussions held at the June 2023 Resilience Evidence Forum, co-hosted by USAID and the Global Resilience Partnership, which brought together more than 1,000 global stakeholders to evaluate the state of resilience evidence.
NEW YORK, Sept. 19, 2023 /PRNewswire/ — In a world grappling with escalating crises—from conflict and pandemics to the dire impacts of climate change—never has resilience been more critical. Released today, the REF 2023 Synthesis Report sets a new benchmark as an unmatched guide to resilience-building methodologies and evidence. The report recognises resilience as the ability to recover from and adapt to shocks and stresses, while enabling longer-term, systemic transformations, and offers actionable insights to inform investment, policy, and decision-making.
Through summarising the key discussions held at the REF in Cape Town, the report underscores the imperative to build on progress, address gaps, recognise various forms of evidence, and prioritise resilience as a collective goal.
Evidence of successful resilience implementation spans different sectors, stakeholders, and geographies – from the strengthening of small-holder farmers and grower communities’ resilience through radical cross-sector collaboration to the role of climate smart agriculture that combines seed technologies, soil fertility, and innovative financial tools for farmers. Taken together, the evidence detailed in the report showcases the increasing magnitude of resilience building initiatives globally.
However, scaling these evidence-based solutions requires a significant increase in finance. Annual spending on climate resilience alone is less than $50 billion, a mere fraction of the estimated $160 billion to $340 billion required. The private sector contributes just 2% to this insufficient pool, making resilience gains fragile and susceptible to setbacks like those witnessed during the COVID-19 pandemic.
To unlock further funding for resilience programming at the scale needed, the report concludes, evidence needs to be relevant and actionable. This also stands true for policy and decision-making; evidence must not only be rigorous and reliable, but also apply to the policies and decisions it seeks to influence. This will require collaborative action from donors, the private sector, policy makers, governments, community-based organisations and leaders, and research organisations to satisfy evidence needs, avoid duplication of efforts, and focus resources and investments.
In parallel, the report demonstrates the importance of diverse evidence – including that which is grounded in local experience and knowledge – to fortify global resilience efforts in the face of increasing threats and to connect local realities with global goals.
“Without equitable, radical collaboration and commitment to evidence that informs decision-making, policy, and investment,, we will continue to face barriers in protecting and supporting environments and communities that can flourish even in the face of change and uncertainty. The Resilience Evidence Forum was a significant moment for taking stock of where we are and where we need to go in strengthening resilience.” – Dr Nathanial Matthews, Chief Executive Officer, Global Resilience Partnership
Co-hosted by USAID and the Global Resilience Partnership, REF was the first such occasion in five years, convening more than 1,000 individuals from the private sector to universities to NGOs and local community groups. As well as a focus on how to further resilience programming, REF and the Synthesis Report highlights case studies and resilience success stories. These offer insight into the interventions that have worked and serve to guide future interventions. Examples of these success stories can be found in Appendix 1.
“With climate and other shocks becoming more frequent, severe and overlapping, there is an urgency to getting smarter, faster in terms of knowing what works when it comes to building resilience. At USAID we will continue to promote convenings like the Forum, to learn more about what others are doing and learning, and promote collaboration and partnership needed to drive equitable growth and well-being in an increasingly unpredictable world.”– Dina Esposito, Feed the Future Deputy Coordinator for Development and USAID Global Food Crisis Coordinator
“It is very important that the stories of resilience get told in the language of those impacted the most and that we learn to work with those stories, pull out what we need from that and don’t take a top-down approach to resilience evidence.” – Dr Shehnaaz Moosa, Director, SouthSouthNorth
Appendix 1
Slum Dwellers International (SDI)’s Know Your City long-standing profiling programme has helped debunk assumptions about informal settlements through community organising and the collection of household-level slum enumeration. For example, since 2017, residents of Mukuru — one of the largest informal settlements in Nairobi, Kenya — undertook an ambitious, groundbreaking participatory upgrading process, the Mukuru Special Planning Area (SPA). Led by the Kenya Slum Dwellers Federation, this process organised over 1,000 groups in 21 cities and towns to take part in a community-led enumeration process. This was then used to inform the development of the area-based upgrading plan.
SERVIR, a collaborative initiative between NASA, USAID, and leading technical organisations, leverages satellite data to address pressing challenges in food security, water resources, weather and climate, land use, and natural disasters in Asia, Africa, and the Americas. This partnership correlates satellite observations with ground data in regions like Ethiopia, Niger, and Zimbabwe, effectively measuring resilience from space by assessing the efficacy of development interventions (e.g.,halfmoon constructions for rain retention and soil improvement). The transparent and objective nature of satellite data supports evidence-based decision-making, thereby bolstering sustainability efforts in vulnerable regions.
Under the Grown for Good Framework, world-leading spice and flavour producers McCormick & Company aim to increase the resilience of over 35,000 farmers by 2025 This is measured by increasing skills and capacity, income, access to financial services, education, and nutrition and health,. This is achieved through multiple interventions – from purchasing higher-value cured vanilla beans from the growing communities, rather than raw, that give farmers a higher purchase price, to investing in infrastructure for remote communities such as the vanilla-growing communities in Madagascar, and building or rehabilitating local schools and libraries, giving children from farming families improved access to education.
Notes to Editors
The Global Resilience Partnership (GRP) is made up of 70+ organisations that work together to advance resilience through identifying and scaling on the ground innovation, generating and sharing knowledge, and shaping policy. GRP envisages an inclusive world in harmony with nature, that is better prepared to cope with shocks, adapt to change, and transform – all within planetary boundaries. The Partnership is registered as a non-profit organisation in South Africa and co-hosted by the Stockholm Resilience Centre at Stockholm University.
For media enquiries, please contact Isobel Turnill at Browning Environmental Communications – [email protected], +44 (0) 7585151035
View original content:https://www.prnewswire.co.uk/news-releases/scaling-global-resilience-new-report-highlights-increasing-momentum-for-evidence-backed-solutions-301931099.html
NEW YORK, Sept. 28, 2023 /PRNewswire/ — Phoenix Tower International, LLC (“PTI”), through its Spanish subsidiary (PTI Iberica V, S.A.) announced today that it has closed a new €1.2 billion senior credit facility in Europe to consolidate its existing loans and provide substantial additional capacity to support further growth both in existing and new markets in Europe.
The transaction comprised of the following senior secured facilities: (i) a €700 million term loan, (ii) a €400 million delayed draw term loan, (iii) a €50 million revolving credit facility, and (iv) a €50 million debt service reserve facility, all of which are due in September 2030 (7 years). Proceeds from the facilities will be used to: (i) repay existing indebtedness including related fees and expenses, (ii) fund capital expenditure requirements and acquisitions, including the recent acquisition of the French portfolio of wireless tower assets from Cellnex (1,226 sites hosting SFR), and (iii) fund working capital requirements.
“The multi-jurisdiction loan provides PTI with the flexibility to continue to grow our business across Europe with incremental liquidity available at our disposal. The financing will allow us to strengthen our commitment to the region, as we continue to construct and invest in digital infrastructure in markets that are experiencing a rising demand for connectivity and technological upgrades. We are excited to continue to expand our presence in Europe and deliver value-add infrastructure solutions to our customers”, said Dagan Kasavana, Chief Executive Officer of PTI.
“By providing a flexible financing covering multiple jurisdictions, PTI was able to simplify its capital structure, reduce pricing, and access incremental funds to support future growth. Raising €1.2 billion in the current market environment speaks to the strength of PTI’s business model and underscores the lender community’s appetite to support the expansion of digital connectivity. We are pleased to partner with such a strong lender group in this landmark transaction”, said Michael Bremer, Chief Financial Officer of PTI.
Natixis Corporate & Investment Banking (“Natixis”) acted as Structuring Bank. Natixis and Deutsche Bank AG acted as Lead Bookrunners and Mandated Lead Arrangers, ABN AMRO Bank N.V., ING Bank N.V., and Scotiabank (Ireland) Designated Activity Company acted as Mandated Lead Arrangers and Bookrunners, BNP Paribas and MUFG Bank acted as Mandated Lead Arrangers, and Citibank Europe PLC Dublin, Mizuho Bank Europe, and Toronto Dominion Bank acted as Participants. Natixis also acted as Facility Agent, Security Agent and Financial Modelling Bank, while ING Bank N.V. has been appointed as Sustainability Coordinator.
Freshfields Bruckhaus Deringer acted as external legal counsel of the company, and Allen & Overy acted as external legal counsel of the lenders.
About PTI
PTI, through its subsidiaries, owns and operates over 22,000 telecom towers throughout Europe, the United States, Latin America and the Caribbean. In Europe, PTI is present in several countries including France, Italy, Ireland, Malta and Cyprus.
PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI’s investors include funds managed by Blackstone, Wren House and various members of the management team and is headquartered in Boca Raton, Florida. For more information, please visit www.phoenixintnl.com
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Fintech PR
BranchOut Food Inc. Expands Partnership with EnWave Corporation. Increasing Manufacturing Capacity by an Additional ~$15mm Annually & Secures Additional Product Exclusivities.
BEND, Ore, Sept. 28, 2023 /PRNewswire/ — BranchOut Foods Inc. (NASDAQ: BOF), the global trailblazer in GentleDried natural snacks and superfood ingredients, is proud to announce a significant expansion of its partnership with EnWave Corporation (TSX-V: ENW | FSE: E4U). BranchOut has agreed to purchase a second large-scale, continuous throughput dehydration machine from Enwave. Under the terms of the new Equipment Purchase Agreement (the “Agreement”), the 120kW REV™ machine is slated for delivery to BranchOut in late calendar 2024 and will add an additional $15mm in estimated topline capacity.
Eric Healy, CEO of BranchOut Food Inc., emphasized, “We are confident that this increased capacity will align perfectly with our growth trajectory, especially in light of our recent commitments from major retailers and the substantial sales pipeline we have established.”
Enwave’s Radiant Energy Vacuum (REV™) technology and associated patent portfolio was previously licensed to BranchOut along with exclusivity for its original core products. Under the new Agreement, the product exclusives have been significantly expanded to encompass the new and innovative products BranchOut has recently developed and will be launching in the very near future.
About BranchOut Food Inc.: BranchOut is an international food-tech company delivering truly great natural snacks and real superfood ingredients enabled by their licensed dehydration technology. BranchOut Food is a leading provider of high-quality dehydrated fruit and vegetable-based products and its commitment to quality and innovation sets it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, please visit www.branchoutfood.com.
About EnWave: EnWave Corporation stands as a global leader in vacuum microwave dehydration innovation and application. Operating from its headquarters in Vancouver, BC, EnWave boasts an impressive intellectual property portfolio and has refined its Radiant Energy Vacuum (REV™) technology into a proven, consistent, and scalable drying solution. This revolutionary technology outperforms traditional drying methods in terms of efficiency, capacity, product quality, and cost.
Media Contact:
BranchOut Food Inc.
Email: [email protected]
Fintech PR
SIGMA Financial AI unveils Akili-AI: Cutting-Edge, AI-based, no-code suite of tools for traders
– Augments trader’s interactions and transforms decision-making capabilities
– Handles the full extent of structured to unstructured financial data
– Mitigates portfolio exposure risk and accelerates speed to market
LONDON, Sept. 28, 2023 /PRNewswire/ — SIGMA Financial AI, an innovator in developing AI-driven trading solutions, launches Akili-AI*, a sophisticated suite of enterprise-ready trading strategy tools. Akili-AI is a cutting-edge, no-code solution enabling data-driven insights to support the specialist needs of the global financial services trading community.
Akili-AI incorporates machine learning (ML) and natural language processing (NLP) to deliver agile tools which are more intelligent, faster and easier to use, enabling traders to create strategies at a scale and speed unachievable without AI support. Completely asset-class and instrument-agnostic, the Akili-AI system streams real-time trading data, allowing users to screen, test and design complex trading strategies promptly.
Their SaaS-based Pattern matching platform (Patterns as a Service) helps traders monitor thousands of instruments in real-time, scanning charts for momentum changes, technical signals, support, and resistance zones. The NLP research function supports fundamental and technical qualifications from thousands of news, social media and traders’ data. Akili-AI’s flexible modular architecture, built using modern protocols, is cloud-based and scales to support the largest trading enterprises.
Andy Simpson, Co-founder and CEO, commented, “Traders are having to cope with a constant squeeze on their book; this, combined with a huge increase in data volumes, has created the need for transformative solutions which can help them find an edge. They need the ability to find new liquidity fast, enhance their trade execution capabilities, and reduce portfolio risk; Akili-AI can deliver all this at a lower cost point and faster than ever.”
“Akili-AI transforms market interaction and improves productivity by liberating traders from the constraints imposed by long-established, outdated working practices and legacy technology infrastructures. Accelerated speed to market is crucial in an industry where every second counts. Our mission is to provide AI-based solutions which enhance the human experience – not replace them – helping to generate more revenue and increased profitability,” Andy continued.
Rob Maunder, Co-founder and Chief Commercial Officer, said, “Our pioneering and creative team is an unusual blend of deep financial services experience, phenomenal engineering and world-class AI technologists who bring an unrivalled track record of developing new platforms at pace. We break the mould by delivering incredible engineering of low-latency, highly scalable systems drawing on more than a decade of generative AI experience in the social media and music industries.”
Andy concluded, “Akili-AI is the start of a refreshingly different journey of technological change; watch this space. There is much more to come.”
Akili-Ai will be showcased in the Innovators Pavilion at the FIA’s Futures and Options Expo on October 2-3, 2023 at the Sheraton Grand Chicago Riverwalk.
*Akili is the Swahili word for intelligence.
About SIGMA Financial AI:
We provide traders with a set of tools that are faster, smarter and easier to use. Our AI machine learning product suite unlocks trading opportunities through real-time analytics underpinned by world-leading, scalable, ultra-low latency architecture.
Note to Editors: For more information about SIGMA Financial AI, please visit www.sigmafinancial.ai.
View original content:https://www.prnewswire.co.uk/news-releases/sigma-financial-ai-unveils-akili-ai-cutting-edge-ai-based-no-code-suite-of-tools-for-traders-301941890.html
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