Geopolitical Tensions Enabled Increased Hacktivist Cyber Threats in 2022

New report from FS-ISAC highlights opportunity for cyberattacks against public and private institutions

RESTON, Va., March 21, 2023 (GLOBE NEWSWIRE) — FS-ISAC, the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, today announced the findings of its annual Global Intelligence Office report, Navigating Cyber 2023.

The latest report showcased the effect that Russia’s invasion of Ukraine had on the global cyber threat landscape, sparking a flood of ideologically driven “hacktivism” that continues to this day. Driven from both sides of the conflict, the threats have increased substantially within the financial services sector, particularly for institutions in countries that Russia considers hostile. These threats can come from hacktivist groups or directly from the nation-states themselves.

“Unfortunately, the growing involvement of non-state actors attacking on an ideological basis and the manipulation of information by malicious actors will continue to sow uncertainty across the landscape in actual and perceived security threats,” said Steven Silberstein, CEO of FS-ISAC. “The best tool available for financial institutions to combat this is intelligence sharing, allowing collaboration across the global industry and ensuring better cyber preparedness. Cyber threats often evolve faster than the tools we use to combat them, but our strength is in our community.”

The report also highlights that some of the more traditionally common cyber threats, such as DDoS attacks and ransomware, are becoming more sophisticated and the suite of tools at a malicious actor’s disposal continues to develop.

Looking ahead into 2023, some of the key drivers of change in the threat landscape include:

  • A growing market for malware-as-a-service: As threat actors become specialized in specific aspects of the kill chain and offer their services in skills and code for sale, cyberattacks become easier to orchestrate, less attributable, and of lower risk. Supply chain threats proliferate as key software, authentication, technology, and cloud service providers are increasingly targeted.
  • The accessibility of AI helping attackers, and defenders: The emergence of new AI-technology lowers the barrier for hacking, allowing threat actors to use tools like ChatGPT to design ever more convincing phishing lures. However, those same tools will be leveraged to strengthen defenses as well.
  • Cryptocurrency offers a prime target for cyber criminals: Cryptocurrency and digital assets are becoming more integrated into global financial infrastructure, generating a complex regulatory environment for multinational firms. In addition, threat groups will continue to finance their operations using cryptocurrency, highlighting the need for better oversight and asset class protections.

“Cyber criminals are endlessly inventive, and aided by technological advances,” said Teresa Walsh, Global Head of Intelligence at FS-ISAC. “The emergence of new technologies and malware delivery tactics will require institutions to ensure they keep up with evolving cyber threats on a continuous basis and focus on resilience so they can keep operating no matter what happens.”

The threat landscape is rapidly changing, and organizations face key challenges of increasing regulation around the world, seismic shifts in the cyber insurance market, and cybersecurity talent shortages. Facing massive changes in their operational environment, the financial services sector must navigate pressures to reduce costs without compromising the ability to continuously evolve defenses and enhance operational resilience.

Methodology

The Navigating Cyber 2023 report is sourced from FS-ISAC’s thousands of member financial firms in 75 countries and further augmented by analysis by the Global Intelligence Office. Multiple streams of intelligence were leveraged for the curation of the round-up, which examined data from January 2022 to January 2023. The publicly accessible version of the report can be found here. The full report is only available to member financial institutions.

About FS-ISAC

FS-ISAC is the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, protecting the financial institutions and the people they serve. Founded in 1999, the organization’s real-time information-sharing network amplifies the intelligence, knowledge, and practices of its members for the financial sector’s collective security and defenses. Member financial firms represent $100 trillion in assets in 75 countries.

Contacts for Media:
media@fsisac.com

GlobeNewswire Distribution ID 8792894

Nikkiso Clean Energy & Industrial Gases Group Announces Expansion of Sales, Service and Engineering Facility in South Africa

Nikkiso Clean Energy & Industrial Gases Group Announces Expansion of Sales, Service and Engineering Facility in South Africa

Nikkiso Clean Energy & Industrial Gases Group (“Group”), a part of the Nikkiso Co., Ltd (Japan) and operating under Cryogenic Industries, Inc. (USA) is proud to announce yet another expansion of their sales, service and engineering capabilities for the African market. From their facility they will be providing support for all the Group’s products.

TEMECULA, Calif., March 21, 2023 (GLOBE NEWSWIRE) — Nikkiso Clean Energy & Industrial Gases Group (“Group”), a part of the Nikkiso Co., Ltd (Japan) and operating under Cryogenic Industries, Inc. (USA) is proud to announce yet another expansion of their sales, service and engineering capabilities for the African market. From their facility they will be providing support for all the Group’s products.

Located in Waterfall, KZN, South Africa, the facility was established to provide a stronger footprint in Africa and support South Africa’s engineering hub and economic center. Local engineers and field service support will bring specific knowledge of the region and local markets, allowing highly customized solutions.

In addition to offering technical sales for all the Group’s products, they have added an air separation unit commissioning team which includes customer support. The additional engineering support will provide process and design optimization and innovative solutions for the region. The facility will also provide LNG equipment, to support the large natural gas expansion off Mozambique, and potential development of virtual pipelines for LNG fuel to mitigate the electricity crisis.

“This expansion positions us to be able to respond rapidly to the growing energy needs of Africa, and to provide greater service and support to our customers with our local presence,” according to Peter Wagner, CEO of Cryogenic Industries and President of the Group.

Bruce van Dongen will serve as Managing Director. A service facility is planned for some time in the future, which will support pumps and turboexpanders. This expansion represents their commitment to and support of the growth of the African market.

ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture and service engineered cryogenic gas processing equipment (pumps, turboexpanders, heat exchangers, etc.) and process plants for Industrial Gases, and Natural Gas Liquefaction (LNG), Hydrogen Liquefaction (LH2) and Organic Rankine Cycle for Waste Heat Recovery. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Nikkiso Cryo, Nikkiso Integrated Cryogenic Solutions, Cosmodyne and Cryoquip and a commonly controlled group of 20 operating entities.

For more information, please visit www.nikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:

Anna Quigley
+1.951.383.3314
aquigley@cryoind.com

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GlobeNewswire Distribution ID 8791897

King Faisal Prize Awards $1 Million, in Recognition of COVID-19 Vaccine Development, Nanotechnology Ingenuity Contributing to 100 Scientific Breakthroughs that Changed the World, and other Key Scientific & Humanitarian Achievements

During its 45th session, King Faisal Prize Recognized Other Outstanding Figures in the Fields of Arabic Language & Literature, Islamic Studies, and Service to Islam

Riyadh, Saudi Arabia, March 20, 2023 (GLOBE NEWSWIRE) — On 20 March, Harvard University and Oxford University professors Dan Barouch from the US and Sarah Gilbert from the UK received the King Faisal Prize for Medicine in Riyadh, Saudi Arabia for their innovative vaccine technologies. They developed Covid-19 vaccines, which saved millions of lives. Furthermore, Northwestern University Professor, Chad Mirkin, and the A*STAR Senior Fellow and Director at NanoBio Lab, Professor Jackie Yi-Ru Ying, were awarded the Science Prize for helping define the modern age of nanotechnology and for their various advancements and applications of nanomaterials.

Professor Dan Barouch; the Director of the Center for Virology and Vaccine Research at Beth Israel Deaconess Medical Center and the William Bosworth Castle Professor of Medicine at Harvard Medical School, and Professor Sarah Gilbert; the Saïd Chair of Vaccinology in the Nuffield Department of Medicine at Oxford University, employed a novel technology in developing Covid-19 viral vectors vaccines: the Johnson & Johnson vaccine and the Oxford–AstraZeneca vaccine, respectively.

Novel Vaccine Technology and Quick Response to the Pandemic

Instead of the traditional vaccines’ methods which use a weakened or killed form of the original infection and require a long time to develop in the human body, professors Dan Barouch and Sarah Gilbert genetically modified a harmless version of a different virus to carry genetic material to body cells and deliver protection. The Johnson & Johnson vaccine was based on engineering a harmless adenovirus (called Ad26) which was a common type of virus that caused mild cold symptoms..

In his acceptance speech during the ceremony, Professor Barouch said, “The Ad26 vaccine for COVID-19 demonstrated robust efficacy in humans, even after a single shot, and showed continued protection against virus variants that emerged. This vaccine has been rolled out across the world by the pharmaceutical company Johnson & Johnson, and over 200 million people have received this vaccine, particularly in the developing world”.

Like the Johnson & Johnson vaccine, the essence of the Oxford–AstraZeneca vaccine, (called ChAdOx1 nCoV-19), is a genetically modified weakened version of a common virus which caused a cold in chimpanzees and no infection when injected in humans. The modified virus in both vaccines carried the genetic instructions for the coronavirus spike protein. When entering the body cells, the virus used a genetic code or instructions to produce the specific surface spike protein of the coronavirus inducing an immune response and preparing the immune system to attack coronavirus if it infects the body.

Both vaccines were achieved in few months of work; the Johnson & Johnson vaccine required 13 months and the Oxford–AstraZeneca vaccine took 10 months of work. This was due to previous research work and clinical trials to develop vaccine candidates for multiple pathogens of global significance. The development of the Ad26 vaccine platform, which was the base for the Johnson & Johnson vaccine, came as a result of Dan Barouch’s accumulated work on HIV, Zika virus, and tuberculosis. He is considered a pioneer in the creation of a series of vaccine platform technologies that can be used when developing vaccines for emerging infectious diseases, such as COVID-19. Moreover, Barouch led the world’s first demonstration of Zika vaccine protection in preclinical studies and launched a series of phase 1 Zika vaccine clinical trials.

Likewise, the Oxford–AstraZeneca vaccine’s innovative technologies were also applied by Sarah Gilbert to Malaria, Ebola, Influenza, and MERS, with clinical trials of the latter taking place in the UK and in the Kingdom of Saudi Arabia. In fact, the patented ChAdOx1 technology was developed by Professor Gilbert and other researchers at the University of Oxford in 2012. In 2014, she led the first trial of an Ebola vaccine after a large outbreak of the disease in West Africa.

“I am humbled to join the other 2023 laureates today, and to follow-in the footsteps of the men and women whose work has been recognized by the Foundation over more than four decades. This award is in recognition of my work to co-create a vaccine for COVID-19. A low-cost, accessible, efficacious vaccine that has now been used in more than 180 countries and is estimated to have saved more than six million lives by the start of 2022”, said Professor Gilbert in her acceptance speech during the awarding ceremony.

Nanotechnology Inventions Topping 100 Scientific Discoveries that Changed the World

In this year’s King Faisal Prize for Science about “Chemistry”, Professor Chad Mirkin (from the US); the Director of the International Institute for Nanotechnology (IIN) and the Rathmann Professor of Chemistry and Professor of Medicine, Materials Science and Engineering, Biomedical Engineering, and Chemical and Biological Engineering at Northwestern University, and Professor Jackie Yi-Ru Ying (from the US); the A*STAR Senior Fellow and Director at NanoBio Lab, Agency for Science, Technology, and Research, received the prize.

The work of Professor Chad Mirkin, which has been at the forefront of nano chemistry for over three decades, has helped define the modern age of nanotechnology. He is widely recognized for his invention of spherical nucleic acids (SNAs), which are nanostructures composed of nucleic acids in a spherical configuration which enter human cells and tissues and overcome biological barriers, making it possible to detect or treat a disease on the genetic level. More than 1,800 products for medical diagnostics, therapeutics, and life science research were based on this technology. “One vital component of our work aims to use nanotechnology to restructure DNA and RNA into forms that make them more potent medicines for treating debilitating types of cancer and neurological disease. Through this work, we hope to usher in a new era of powerful and precision genetic medicines where we can attack and treat disease at its genetic routes”, said Mirkin in his acceptance speech.

Professor Mirkin has over 1,200 patent applications worldwide. He also founded several companies, including Nanosphere, AuraSense, TERA-print, Azul 3D, MattIQ, and Flashpoint Therapeutics. He pioneered artificial intelligence-based materials discovery inventing a method to create patterns directly on different substances with a variety of inks called “dip-pen nanolithography”, which was described by National Geographic as one of the “top 100 scientific discoveries that changed the world”. He also developed HARP (high-area rapid printing) technology, a 3D printing process that can manufacture different products like ceramics at record-breaking throughput.

As for Professor Jackie Yi-Ru Ying, her research focused on synthesis of advanced nanomaterials and systems, and their application in biomedicine, energy conversion, and catalysis. Her inventions have been used to solve challenges in different fields of medicine, chemistry, and energy. “I am deeply honored to be receiving the King Faisal Prize in Science, especially as the first female recipient of this award,” she said in her acceptance speech.

Her development of stimuli-responsive polymeric nanoparticles led to a technology which can autoregulate the release of insulin, depending on the blood glucose levels in diabetic patients without the need for external blood glucose monitoring. Dr. Ying’s laboratory has pioneered the synthesis of mesoporous and microporous transition metal oxides; a class of nanomaterials used in energy storage and conversion, by supramolecular templating (organizing or assembling entities).

Dr. Ying has more than 180 primary patents and patent applications; 32 of which have been licensed to multinational and start-up companies for a range of applications in nanomedicine, drug delivery, cell and tissue engineering, medical implants, biosensors, medical devices, and others. Her work is at the intersection of nanotechnology and technical medicine and has culminated in the establishment of six successful start-ups and spinoff companies.

Four Exceptional Thinkers and Leaders Recognized in Arabic Language & Literature, Islamic Studies, and Service to Islam

Along with Medicine and Science, the King Faisal Prize recognized outstanding thinkers and scholars in Arabic Language & Literature and Islamic Studies this year and honored exemplary leaders who have contributed to serve Islam, Muslims, and humanity.

Professor Abdelfattah Kilito, from Morocco, received the “Arabic Language & Literature” prize focusing on “Classical Arabic Narrative and Modern Theories”. He has been a visiting professor and lecturer at the New Sorbonne, Harvard University, Princeton University, the University of Chicago, the University of Oxford, and the College de France. Professor Robert Hillenbrand, from the UK, Honorary Professorial Fellow in the department of Islamic and Middle Eastern Studies (IMES) at the University of Edinburgh, was awarded the “Islamic Studies” prize in “Islamic Architecture”. His work was distinguished by its geographic and temporal expansiveness, which covered North Africa, Egypt, Palestine, and Central Asia, and spanned from the early Islamic period till the 19th Century. As for the “Service to Islam” Prize, Professor Choi Young Kil-Hamed (from South Korea) and His Excellency Shaikh Nasser bin Abdullah Al Zaabi (from the UAE) were this year’s laureates.

Since 1979, King Faisal Prize in its 5 different categories has awarded 290 laureates who have made distinguished contributions to different sciences and causes. Each prize laureate is endowed with USD 200 thousand; a 24-carat gold medal weighing 200 grams, and a Certificate inscribed with the Laureate’s name and a summary of their work which qualified them for the prize.

Attachments

Maysa Shawwa
King Faisal Prize
Maysa.Shawwa@kff.com

GlobeNewswire Distribution ID 8791879

Bow Valley College introduces an English proficiency exemption

Removing barriers for newcomers and international students

Calgary, March 20, 2023 (GLOBE NEWSWIRE) — Bow Valley College is announcing an exciting change to its admissions process for many international students and newcomers to Canada. Applicants from almost 50 countries around the world are now exempt from taking an English language proficiency test.

“Bow Valley College prides itself on removing barriers to learning. This landmark change provides students from countries where English is the primary language of education the opportunity to realize their academic dreams with a more seamless entry,” says Kara Mott, Dean, Enrolment Management and Registrar, Bow Valley College.

To qualify, applicants must provide transcripts that show completion of required secondary (high school) or post-secondary education. The change applies to virtually all Bow Valley College programs.

“As a former international student, I know firsthand what preparing for an English language proficiency test is like. An exemption for some of our prospective students means one less step, saving them time and money. It will be a game changer,” says Trisha Choudhury, Manager, International Student Recruitment, Bow Valley College.

Please visit our website for a list of countries now exempt from the English language proficiency test and details about the requirements.

About Bow Valley College 
Calgary and region’s only Comprehensive Community College — with 14,000 full- and part-time students, Bow Valley College helps Open Doors – Open Minds to in-demand jobs in Calgary, Alberta, and Canada. Our graduates contribute to the digital economy, careers in business, TV & film production, and serve on the frontlines of healthcare and social services. Bow Valley College invests in three applied research pillars: educational technology, social innovation, and health.

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Shannon van Leenen, Senior Media Relations Specialist
Bow Valley College
403-671-3274
shvanleenen@bowvalleycollege.ca

GlobeNewswire Distribution ID 8791681

Curia Appoints Philip Macnabb as Chief Executive Officer

Philip Macnabb

Philip Macnabb appointed CEO of Curia

ALBANY, N.Y., March 16, 2023 (GLOBE NEWSWIRE) — Curia, a leading contract research, development and manufacturing organization, today announced that Philip Macnabb has been appointed as chief executive officer, succeeding John Ratliff.

“On behalf of the Board of Directors, we thank John Ratliff for the tremendous progress that Curia made during his tenure,” said Curia board members Sean Cunningham, managing director, GTCR and William McMullan, managing director, Carlyle. “We are delighted to welcome Phil, a seasoned executive who has an impressive track record of focusing companies on their core value proposition, enhancing the customer experience and building organizations with real and sustaining value. Curia is well positioned in the growing CDMO market, and we are excited about its outlook under Phil’s leadership.”

Mr. Macnabb commented: “Curia is a unique company with deep scientific expertise across its end-to-end offering. We have incredible people in the global Curia community, who are highly motivated by our noble purpose of improving patients lives. Going forward, we will focus on creating sustainable value for customers and employees.”

Macnabb joins Curia having spent years in leadership roles at various companies in the healthcare industry. Prior to that, Macnabb held senior positions in technology, distribution, and consumer products segments. He received an MBA from the University of Chicago and a BS in Business Administration from Purdue University.

About Curia

Curia is a leading contract research, development, and manufacturing organization providing products and services from R&D through commercial manufacturing to pharmaceutical and biopharmaceutical customers. Curia’s nearly 4,000 employees at 29 locations across the U.S., Europe, and Asia help its customers advance from curiosity to cure. Learn more at CuriaGlobal.com.

Corporate Contact:
Sue Zaranek
Curia
+1 518 512 2111
corporatecommunications@CuriaGlobal.com

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GlobeNewswire Distribution ID 8790280

Play Ball! Major League Baseball and Zoom Announce First-of-its-kind Partnership; Zoom Contact Center to Power ‘Zoom Replay Operations Center’

  • Zoom becomes Official Unified Communications Platform of MLB and Presenting Partner of MLB Replay Review
  • MLB to introduce league-first, broadcast look-ins from the Zoom Replay Operations Center
  • Zoom Contact Center, Zoom Events, and Zoom’s all-in-one collaboration platform will deliver unprecedented transparency to the fans and enhanced communications between front office staff, umpires, and league officials

SAN JOSE, Calif. and NEW YORK, March 16, 2023 (GLOBE NEWSWIRE) — Major League Baseball (MLB) and Zoom Video Communications, Inc. (NASDAQ: ZM) today announced a first-of-its-kind partnership for the league, aimed to enhance MLB games and the fan viewership experience. As the new Official Unified Communications Platform of MLB, Zoom Contact Center and the Zoom platform technology will power new elements of Major League games and broadcasts.

MLB Chief Operations & Strategy Officer Chris Marinak, said: “We are always looking for innovative ways to leverage best-in-class technology to advance the MLB experience and deliver more to our fans. Partnering with Zoom, a category leader that reinvented the way we connect, was a natural next step for us. We are excited to integrate Zoom Contact Center and other Zoom platform technology into our gameday operations and continue to modernize experiences in a secure, reliable, and innovative way.”

Zoom Chief Marketing Officer, Janine Pelosi said: “MLB brings together tens of millions of passionate fans every season. Zoom’s rapid pace of innovation and obsession with making human connection easier and better, is crucial to help MLB evolve its experience and deliver unprecedented transparency and access to its fans. With MLB leveraging Zoom Contact Center and Zoom’s all-in-one collaboration platform, we are able to truly show the world how a historical brand can continue to innovate and unlock new possibilities.”

Zoom platform integration drives MLB innovations:

  • Zoom Contact Center transforms replay review – In the 2022 MLB season, there were more than 1,400 replay reviews. Historically, the league’s replay review was reliant on disparate technology and audio-only communication with umpires on the field, resulting in fans being disconnected from the decision-making process.

    Beginning with the 2023 Season, the Crew Chief, the most senior member of the four-man umpire crew, will connect to the Zoom Replay Operations Center using Zoom’s Contact Center solution during any replay review. During national broadcasts on MLB Network and Apple TV+, fans will also see the Zoom Replay Operations Center in action live during replay reviews and hear from an expert rules analyst who will discuss replay reviews with the broadcast team. MLB’s goal with this new setup is to create a more transparent and engaging review process.

  • Zoom Platform helps streamline communication – Zoom will be used to securely deliver sensitive information in one of the most high-pressure and high-profile MLB Events, Day One of the 2023 MLB Draft.
  • Broader league-wide Zoom integrations advance collaboration – Zoom’s all-in-one collaboration platform is integrated across several MLB clubs, platforms, and broadcast outlets. In addition to Zoom Meetings, many MLB teams are using Zoom Phone to stay connected with colleagues and customers, as well as Zoom Contact Center to deliver prompt, accurate, and highly personalized customer experiences to their fans. MLB’s corporate offices use Zoom Meetings, Zoom Rooms, Zoom Phone, and Zoom Webinar to connect, collaborate, and communicate.

To learn more about the Zoom platform and the technology that will power several new elements in MLB starting in the 2023 season, read the blog here.

About MLB
Major League Baseball (MLB) is the most historic professional sports league in the United States and consists of 30 member clubs in the U.S. and Canada, representing the highest level of professional baseball. Led by Commissioner Robert D. Manfred, Jr., MLB remains committed to making an impact in the communities of the U.S., Canada and throughout the world, perpetuating the sport’s larger role in society and permeating every facet of baseball’s business, marketing, community relations and social responsibility endeavors. MLB currently features record levels of competitive balance, continues to expand its global reach through programming and content to fans all over the world, and registered records in games and minutes watched this season on MLB.TV. With the continued success of MLB Network and MLB digital platforms, MLB continues to find innovative ways for its fans to enjoy America’s National Pastime and a truly global game. For more information on Major League Baseball, visit www.MLB.com.

About Zoom
Zoom is an all-in-one intelligent collaboration platform that makes connecting easier, more immersive, and more dynamic for businesses and individuals. Zoom technology puts people at the center, enabling meaningful connections, facilitating modern collaboration, and driving human innovation through solutions like team chat, phone, meetings, omnichannel cloud contact center, smart recordings, whiteboard, and more, in one offering. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more info at zoom.com.

MLB Communications
David Hochman
david.hochman@mlb.com

Zoom Public Relations
Candace Dean
press@zoom.us

GlobeNewswire Distribution ID 8789553

Open Society Announces $1.7 Million to Support Middle East and North Africa Debt Swap for Sustainable Development

Amman, March 15, 2023 (GLOBE NEWSWIRE) — The Open Society Foundations today announced that they are giving $1.7 million to a United Nations initiative in the Middle East and North Africa region (MENA) that seeks to catalyze increased public spending on achieving the UN’s Sustainable Development Goals by negotiating reduced national debt service payments. Importantly, the initiative provides a channel for MENA civil society organizations to have a voice about where such kinds of innovative financing is needed most.

The two-and-a-half-year project partnership, which will last from April 2023 through September 2025, will support work by the UN Economic and Social Commission for Western Asia (ESCWA) with interested member states and civil society to identify investment projects that prioritize the most urgent needs of MENA societies. ESCWA will support member states in reaching agreements with their creditors to redirect scheduled debt service payments into sustainable local investments.

An emphasis on robust project monitoring and evaluation provides an incentive to creditors who are ready to deliver on their own commitments to climate and sustainable development goals financing in MENA. The initiative is further strengthened by the role of ESCWA’s Advisory Committee, made up of experts with experience implementing debt swaps and providing economic policy advice on inclusive growth in other parts of the world.

Heavily indebted MENA countries have pressing financing needs to address climate adaptation and sustainable development goals, while struggling to recover from fallouts of the COVID-19 pandemic and repercussions of the war in Ukraine, including growing food insecurity. As middle-income countries, they are both excluded from debt relief frameworks and find it difficult to access the financing they need.

The combined public debt burden of Arab countries was $1.5 trillion, equivalent to about 54 percent of the region’s GDP in 2021. In addition, the Arab region continues to suffer disproportionately from climate change and 90 percent of the population resides in water-scarce countries. Conflicts in the region have devastated institutions and infrastructure and some 66 million persons in Arab countries affected by conflict are dependent on humanitarian aid.

“The ESCWA initiative is a win-win strategy for all stakeholders involved,” said Issandr Amrani, executive director for Open Society–Middle East and North Africa. “As a multilateral institution with a commitment to human rights and civil society engagements, ESCWA provides a new opportunity for civil society to engage with governments on borrowing, spending, and development priorities. Open Society is committed to backing innovative projects that can help deliver economic justice.”

Yamide Dagnet, Open Society’s director for Climate Justice, added: “Climate disruption poses exponential risks to MENA’s economic and political challenges. Open Society’s pro-climate and fiscal-forward support can pave the way for catalytic investment in a just and inclusive climate transformation. From spurring dynamic and higher quality, green new employment opportunities that spark optimism among youth, women, and other marginalized communities, to addressing adaptation issues such as water scarcity that risks amplifying conflict. The fiscal space and just opportunities this pledge creates expands how we must put climate justice into action.”

Open Society’s president announced the launch of the grant during a high-level plenary session of the Arab Forum on Sustainable Development in Beirut, Lebanon, on March 15, 2023.

Office of Communications
Open Society Foundations 
212-548-0378
media@opensocietyfoundations.org

GlobeNewswire Distribution ID 8789008