Building Climate Resilience Via Investment Migration to Secure a Sustainable Future

LONDON, Nov. 28, 2023 (GLOBE NEWSWIRE) — Henley & Partners has seen a significant uptick in interest from both private clients and governments in investment migration programs as an effective mechanism to improve their resilience to the impacts of climate change and mitigate other sustainability risks. Besides phasing out fossil fuels, the other two core themes for the upcoming UNFCCC COP28 conference in Dubai, UAE, are building climate-resilient societies and investing in climate solutions. In its inaugural Henley Wealth and Sustainability Report published today, the international residence and citizenship advisory firm highlights how investment migration can assist in addressing both these significant global challenges.

The innovative study analyzes over 150 data points across five key sustainability and wealth parameters including population density and CO2 emissions per capita, achievement of the UN’s Sustainable Development Goals (SDGs), and unique wealth tier and wealth per capita data from global wealth intelligence firm New World Wealth. The report focuses on G7 nations, BRICS member states, including the six new countries that will join the bloc in January 2024 (Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE), and a selection of 19 countries that host investment migration programs, which enable investors to acquire residence or citizenship in return for making a significant contribution to the economy.

The G7 brings together seven of the world’s most advanced industrial economies in the Global North, while the new BRICS plus Six configuration represents major emerging economies in the Global South. As Dr. Juerg Steffen, CEO of Henley & Partners, points out in the report, both groupings represent a significant share of the global economy and population, and both aim to tackle pervasive global issues such as climate change. “Investment migration can provide much-needed foreign direct investment to help meet our sustainability challenges. Several countries are already channeling program inflows into projects to boost their countries’ climate resilience for the benefit of their citizens. Grenada, for instance, has strengthened its resilience against natural disasters by offering investors citizenship in exchange for a contribution to the country’s National Transformation Fund, which supports a range of industries including alternative energy. A non-refundable contribution to Antigua and Barbuda’s National Development Fund is another example of how a country is driving its transition to renewable energy through citizenship by investment.”

Prof. Trevor Williams, former Chief Economist at Lloyds Bank Commercial banking, says the Henley Wealth and Sustainability Report can assist those looking for opportunities, either private or public, to invest in sustainability projects and other carbon-reducing initiatives. “The framing allows those seeking areas where climate change is less threatening, where adaptation is occurring fastest, and as a result where threats to sustainability are lowest to locate to achieve that goal. Through this approach, these individuals are also able to see which countries allow investors to acquire residence status through various programs, and where the opportunities for mitigation and adaptation will offer the highest returns on investment. It also shows where the best investment options are for funds that are seeking returns through sustainability and green and carbon-reducing projects and investment activities.”

Commenting in the report, Dr. Areef Suleman, Director of Economic Research and Statistics at the Islamic Development Bank (IsDB) Institute, says the analysis provides a data-driven perspective on how residence and citizenship by investment programs can be leveraged to enhance investment resilience and sustainability. “Investment migration countries consistently performed better than G7 and BRICS plus Six countries in key areas such as environmental responsibility, infrastructure reliability, healthcare and education quality, economic growth, and wealth accumulation. These insights underscore the wisdom investment migration offers high-net-worth individuals in securing a sustainable future for them and their progeny. In an ever-changing world, data and evidence-based decision-making provide the right compass for investors and families seeking a path to economic prosperity and sustainability.”

Read Full Press Release and the Henley Wealth and Sustainability Report.

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King briefed on progress in implementing public sector modernisation


His Majesty King Abdullah II on Tuesday was briefed on progress in implementing the executive programme for public sector modernisation, and stressed the need for recruitment in the public sector to be transparent and merit-based.

According to a royal court statement, during a meeting at Al Husseiniya Palace with the concerned officials, His Majesty highlighted the need to evaluate the impact of 2023 projects to allow for feedback on implementation.

At the meeting attended by His Royal Highness Crown Prince Al Hussein bin Abdullah II, the King said the 2024 plan must include tangible reforms in the public sector.

His Majesty also stressed the need to have performance indicators, as well as clear and measureable goals, highlighting the need to engage with all stakeholders.

For his part, Prime Minister Bisher Khasawneh said the government is working on the executive programme’s priorities within its three pillars public service development, institutional development, and legislation development, in line wit
h the set timeframes.

Deputy Prime Minister for Economic Affairs and Minister of State for Public Sector Modernisation Nasser Shraideh reviewed progress in implementing the executive programme for public sector modernisation, which included the completion of 90 per cent of the priorities set for 2023.

He highlighted priorities for 2024, which number 51, covering public services, procedures and digitisation, structure and governance, policy and decision making, institutional culture, human resources, and legislation.

Director of the Office of His Majesty Jafar Hassan and Planning Minister Zeina Toukan attended the meeting.

Source: Jordan News Agency

Gaza Health Ministry: Only 3 hospitals barely running in north of enclave


The Health Ministry in the Gaza Strip said Tuesday only three hospitals are operating at a bare minimum in the north of the beleaguered enclave amid the pause in Israel’s war.

Spokesman Ashraf Al-Qudra said in a press statement that the health sector is working at “a very limited capacity” with hospitals in the north of Gaza unable to deal with pressing needs.

He said there is a need for large field hospitals to de deployed as well as the transfer of the wounded outside Gaza for treatment, in addition to respiratory medications for premature babies.

Al-Qudra also said the kidney unit at Al-Shifa Medical Center was restored with “local capabilities”, calling on international institutions to take effective measures to protect the health system.

He said Israel’s bombardment in about 50 days of the aggression inflicted heavy losses to the health sector, and that medical aid received in the past days was very limited.

Source: Jordan News Agency

Palestinian child killed by Israeli army fire north of West Bank


A 14-year-old Palestinian was shot and killed Tuesday by the Israeli army during a raid in the north of the occupied West Bank, health officials said.

The child, Ahmad Wahdan, was struck in the chest by a bullet fired by soldiers in the village of Tayasir east of Tubas town, according to a statement by the Tubas Turkish Governmental Hospital.

He was one of four youths shot during the Israeli troops’ storming of Tubas and nearby areas.

Today’s fatality was the latest by the occupation army which has stepped up deadly raids across the West Bank since the war in Gaza began on October 7.

Source: Jordan News Agency

Ambassador Tall presents credentials to Swiss President


Nawaf Tall presented on Monday his credentials to the President of Switzerland, Alain Berset, as Ambassador Extraordinary and Plenipotentiary of Jordan to the Swiss Confederation in a ceremony in Bern.

Tall conveyed the greetings and wishes of His Majesty King Abdullah to the Swiss President. President Berset praised King Abdullah’s “wise” policies and the “distinguished” Jordan-Switzerland ties.

Source: Jordan News Agency

Israel releases another 30 Palestinian prisoners


Thirty Palestinian prisoners were released on Tuesday evening as part of the fifth round of the prisoner exchange agreement between Israel and Hamas, according to the Israeli Occupation Prisons Service.

The liberated Palestinian prisoners arrived in Ramallah, where they were greeted by thousands of Palestinians, particularly their relatives, who saluted the resistance and martyrs in Gaza.

Source: Jordan News Agency

NATO warns of regional escalation of Middle East conflict


NATO Secretary General Jens Stoltenberg stressed the need to prevent the Middle East situation from escalating into a bigger regional conflict.

Speaking at a press conference at NATO headquarters in Brussels on Tuesday, Stoltenberg said that foreign ministers from member countries expressed concern during their meeting about the war in the Middle East.

Stoltenberg hailed the prolongation of the Gaza humanitarian truce, which would give assistance to the people of Gaza, more humanitarian aid, and the release of more prisoners and detainees. He expressed his hope that the truce period could be extended once more.

He explained that NATO, which includes 31 nations, does not play an active role in the Palestinian-Israeli issue. “Some Allies are active in different ways, but NATO as an organization is not directly involved.”

Stoltenberg discussed the alliance’s presence in the region, citing its close relationship with Jordan as well as its training mission in Iraq to aid in the battle against ISIS and its par
tnerships with numerous Arab nations in the Gulf, North Africa, and the Middle East.

Stoltenberg made it clear that his message is that in all conflicts, civilian life must always be protected and international and humanitarian law must be adhered to. He did, however, point out that there are major differences between the situation in Gaza and Ukraine, as the former has never attacked Russia or constituted a threat to the latter.

Source: Jordan News Agency

Italy’s AICS delegation examines Ajloun College projects


A delegation from the Italian Agency for Development Cooperation (AICS) visited the Faculty of Ajloun College on Tuesday to check on significant infrastructure projects and to follow up on facilities and buildings that were maintained and built with Italian funding.

The delegation included the Director of the Cooperation and International Relations Unit at Al-Balqa Applied University (BAU), Dana Mahadin; Head of the AICS Amman office, Roxane Gabriela Weber; Debt Swap and Soft Loans Manager, Marco Gaspari; the United Nations Development Programme (UNDP) coordination specialist, Raed Hussein; and Fatima Masa’dah from the Ministry of Planning.

Dean of the College, Wael Rabadi, emphasized the college’s significance and function as Jordan’s second oldest college. He said that BAU is eager to expand and forge partnerships in a variety of scientific domains with all cultural attachés of friendly and fraternal nations, particularly given that technical education is the core of the university’s purpose.

He stated
that during the early phases, the BAU administration worked to transfer technology and modernize the infrastructure on its campuses and colleges distributed from north to south, as well as structure it to support the attainment of its goal and vision. Rabadi also underscored the significance and breadth of Jordan’s relationship with the Italian government.

The Italian delegation assessed the progress of maintenance and construction work carried out through tenders conducted by major companies, including the renovation and rehabilitation of Martyr Mohammad Al-Azzam Hall at a cost of JD228,000.

the Martyr Muhammad Al-Azzam Hall was renovated and rehabilitated, complete with modern equipment, administrative buildings, housing, and a complex of lecture halls in the college. It was outfitted with cutting-edge technology, administrative buildings, dormitories, and a complex of teaching halls in the college.

Source: Jordan News Agency

Jordan welcomes Gaza humanitarian truce extension


The Ministry of Foreign Affairs and Expatriates welcomed the two-day extension of the humanitarian truce deal in the Gaza Strip.

The Ministry commended Qatar for its vigorous diplomatic efforts in collaboration with Egypt and the United States of America in order to reach this extension.

The Ministry’s spokesperson, Sufyan Qudah, emphasized the significance of this extension, as an important step toward ending the war on the Gaza Strip and ensuring the delivery of humanitarian aid to Palestinian brothers in all areas of the Strip in order to ensure their survival in their homes and prevent forced displacement.

Source: Jordan News Agency

Boycott campaigns grow random, jeopardizing jobs of hundreds of Jordanians


Boycott campaigns, as observed recently, have shifted into randomness and unfair competition when appeals urged the abandonment of particular products, pledging to hire every worker who lost his job, and this is nothing more than propaganda that has not and will not be realized, according to a government source.

The source explained that some people have been drawn into broadening the circle of accusation to include international and local brands and companies under the guise of supporting the occupation without providing any evidence, and that the goal may be to restrict or remove those brands from the market in order to increase profits for those who make these accusations.

“This disarray in the boycott will have a severe influence on workers who have become victims of randomness, far from accuracy and objectivity, and captives of speculation for solely business reasons, far from the viewpoint on the Israeli aggression on Gaza,” the source cited experts as saying.

He stated that the boycott’s figures wi
ll have a detrimental impact on the labor market and the national economy, and threaten hundreds of Jordanians’ jobs and threatens the treasury with a loss of tens of millions of dinars (tax revenues).

According to experts, official authorities became engulfed in the boycott calls because they were unwilling to confront the boycotting public’s position and could not remain silent about the harm done to hundreds of workers who face the inevitable fate of becoming unemployed if the boycott chaos did not end.

The priority, according to the source, is to maintain the resilience and strength of the national economy, as well as to resist attempts to create a domestic financial crisis, as a strong Jordan with a thriving economy is the most capable of supporting its brothers in Palestine.

The government, according to the source, is striving to mitigate the economic consequences of Israel’s aggression, which has caused a complex political and economic crisis, since the tourism sector in the Kingdom, which is the ba
ckbone of economic growth, has been directly impacted due to the region’s stereotyped image as a result of the ongoing war.

According to the source, there needs to be voices of reason and moderation that strike a balance between upholding popular will and meeting national economic needs, because there would be terrible fallout when the Israeli aggression ends.

Source: Jordan News Agency

Omani embassy marks 53rd anniversary of independence


The Omani Embassy in Amman held a commemorative event on Monday evening to mark the 53rd anniversary of the Sultanate of Oman’s independence. Dignitaries, diplomats, journalists, and special guests were in attendance.

During the ceremony, Oman’s Ambassador Fahad Bin Abdul Rahman Alojaili highlighted the profound historical and fraternal relations between Oman and Jordan. He underscored the extensive collaboration in diverse fields and conveyed a strong dedication to enhancing these ties while fostering ongoing exchange of experiences and cooperation.

The ambassador reaffirmed Oman’s unwavering backing for the Palestinian people in their pursuit of their rights. He strongly condemned the recent Israeli aggression in the Gaza Strip and deplored the flagrant violations of moral and human values that ensued.

Urging an immediate cessation of hostilities, the envoy called for the opening of humanitarian corridors, the delivery of aid, and the establishment of an independent Palestinian state with East Jerusalem
as its capital, based on June 4, 1967 lines and aligned with the principles outlined in the Arab Peace Initiative.

Alojaili also emphasized the role of the Hashemite historical custodianship over the Islamic and Christian holy sites and the existing historical and legal status quo.

Furthermore, the event included a presentation of Oman’s vision for 2020-2040, outlining the embassy’s efforts in implementing its contents.

Source: Jordan News Agency

Israeli forces kill 2 Palestinians in Ramallah


The Palestinian Ministry of Health released a statement on Tuesday reporting the tragic death of two Palestinians due to gunfire by Israeli occupation forces in Beitunia town and Kafr Ein village in the West Bank city of Ramallah.

According to the ministry, Yassin Abdullah Al-Asmar, a 26-year-old Beitunia resident, died of a chest injury sustained by occupation bullets during clashes in the town. Additionally, a 23-year-old youth also got a foot injury from live bullets.

The ministry further confirmed the death of Malik Majid Daghra, a 17-year-old boy who was shot in the shoulder, abdomen, and foot amid clashes as the occupation forces invaded the village of Kafr Ein.

Source: Jordan News Agency