International cooperation | Spark of Genius

Australia to invest $125m in Pacific island off-grid and community scale renewables

By Peter Schulte / November 20, 2024

The funding, which comprises a $75 million investment through the REnew Pacific program and $50 million through the Australia-Pacific Partnership for Energy Transition, was announced at the COP29 United Nations climate summit. The REnew Pacific program will help deliver off-grid and community-scale renewable energy in remote and rural parts of the Pacific, enabling lighting, access to water, improved agriculture, better food security, quality education and health services, reliable communications connectivity and enhanced incomes. The $50 million Partnership for Energy Transition funding will capture renewable energy investment benefits such as energy transition modelling, grid studies, feasibility studies and university collaborations.

Spain to give Ukraine €1 billion in military aid in decade-long defense deal

By Peter Schulte / May 28, 2024

Although the precise details of the agreement have not been made public, the Spanish government said its assistance would “allow Ukraine to prioritize its capacities, including its air defenses.” The bilateral deal was agreed two days after Russia’s onslaught in the north-eastern Ukrainian city of Kharkiv killed 18 people, and as E.U. leaders grow increasingly exasperated with Hungary’s efforts to block aid to Ukraine.

India stops accepting Russian oil delivered by U.S.-sanctioned tankers

By Peter Schulte / March 22, 2024

Indian oil refineries have stopped accepting Russian crude oil delivered by tankers operated by Russia’s largest commercial shipping company that has been sanctioned by the U.S., likely as a result of the war on Ukraine. The move deals a significant blow to Russia’s economy as India has emerged as a major importer of Russian crude oil over the past two years.

Somalia secures $4.5 billion debt relief deal with international creditors

By Peter Schulte / December 13, 2023

The deal comes as part of a debt forgiveness program —called the Heavily Indebted Poor Countries initiative— overseen by the IMF and the World Bank. As a result of its participation in the program, Somalia’s external debt will fall from 64% of GDP in 2018 to less than 6% of GDP by the end of 2023.

Australia offers Tuvalu residents special climate emergency visas in ‘groundbreaking’ treaty

By Peter Schulte / November 11, 2023

It is expected that by 2050, half the land area of Tuvalu’s capital, Funafuti, will be flooded by tidal waters daily. Under the deal, Australia has committed to provide access to education, health care and income and family support instantly to Tuvaluans upon arrival.

E.U. strikes historic deal to eliminate super-potent greenhouse gases

By Peter Schulte / October 5, 2023

The interinstitutional agreement to phase out fluorinated gases (or F-gases) paves the way for Europe to become the world’s first HFC-free continent by 2050, setting an unprecedented environmental and climate standard on a global scale.

African Union made permanent member of G20

By Peter Schulte / September 9, 2023

The G20 is an intergovernmental forum comprising 19 sovereign countries, along with the EU, addressing major global economic issues. The African Union now has the same status as the EU offering a greater voice to African perspectives and interests.

Netherlands to return nearly 500 looted objects to Indonesia and Sri Lanka

By Peter Schulte / July 22, 2023

“We’re not only returning objects; we’re also embarking on a period of closer cooperation with Indonesia and Sri Lanka in areas like collection research, presentation, and exchanges between museums,” said Dutch Secretary of State for Culture and Media Gunay Uslu.

Portugal to redirect Cape Verde debt payments to new climate fund

By Peter Schulte / January 27, 2023

Cape Verde, a former Portuguese colony, owes 140 million euros to the Portugal. Under the new agreement, Portugal will redirect debt payments owed to a fund that will help the island nation tackle climate change.

Pfizer to sell all its drugs in 45 low-income countries at non-profit price

By Peter Schulte / January 23, 2023

In an expansion of the company’s “An Accord for a Healthier World” program, which is aimed at increasing access to innovative treatments in some of the world’s poorest countries, Pfizer said it will now offer a total of 500 products.