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Navigating change: 10 key shifts shaping sustainability in the Philippines 

(First of two parts)

IN BRIEF:

• As a signatory to the Paris Agreement, the Philippines is advancing towards a low-carbon economy with the proposed Low Carbon Economy Investment Act, incentivizing decarbonization plans and carbon pricing.

• New legislation, including the Carbon Rights Act and BSP Circulars on Environmental and Social Risk Management Systems, is set to redefine sustainable investment and risk management in the financial sector.

• The SEC’s upcoming sustainability reporting form aligns with global standards, enhancing transparency and aiding investors in assessing climate-related risks and opportunities.

The Philippines is at a pivotal moment in its sustainability journey, driven by a blend of regulatory reforms, market dynamics, and heightened climate awareness. These developments create both risks and opportunities for businesses operating in the country and global investors interested in sustainable investments.

As the nation confronts the realities of climate change and its potential impacts, there is a growing consensus among policymakers, business leaders, and civil society on the need for a strategic and coordinated approach to sustainability. This collective push towards environmental stewardship is shaping new business models and investment strategies that prioritize long-term resilience and ethical practices. The Philippine commitment to this transition is reflected in a series of progressive policies and initiatives that aim to align economic development with sustainable outcomes.

This first part of the article explores the first five key shifts that are shaping the sustainability landscape in the Philippines, focusing on the implications for businesses and the opportunities for investors in this emerging low-carbon economy. It explores the upcoming Low Carbon Economy Investment Act, the proposed carbon rights legislation, BSP Circulars 1128 and 2022-042, BSP Circular 1187, and the upcoming Philippine SEC sustainability reporting form.

UPCOMING CARBON PRICING POLICY – LOW CARBON ECONOMY INVESTMENT ACT (HB 7705)
The proposed Low Carbon Economy Investment Act, or House Bill 7705, is poised to be a transformative force in the Philippines’ shift towards a low-carbon economy. This bill requires covered enterprises with substantial contributions to greenhouse gas (GHG) emissions develop decarbonization plans aligned with a pathway to limit global temperature rise to below 2°C. Additionally, it introduces a carbon pricing mechanism for emissions that exceeds established milestones, creating a decarbonization fund. This fund will be reinvested into viable low-carbon projects, presenting significant opportunities for enterprises and investors committed to sustainable development.

PROPOSED CARBON RIGHTS LEGISLATION
Congress has introduced the Carbon Rights Act (HB 10635), which aims to address the barriers to investing in carbon forestry and other carbon projects. This legislation seeks to define ownership of carbon rights and establishes mechanisms for their transfer. By clarifying these ownership rights and enabling corresponding adjustments, the bill facilitates Philippine participation in global carbon markets under Article 6 of the Paris Agreement. For investors, particularly those focused on nature-based solutions, this bill presents new opportunities to invest in carbon projects that are critical to achieving global emission reduction targets.

BSP CIRCULARS 1128 AND 2022-042 ON ENVIRONMENTAL AND SOCIAL RISK MANAGEMENT
Bangko Sentral ng Pilipinas (BSP) Circulars 1128 and 2022-042 require financial institutions to integrate Environmental and Social Risk Management Systems (ESRMS) into their credit risk assessments. These regulations compel banks to conduct climate risk assessments, including stress testing, as part of their underwriting processes. Companies with strong sustainability and climate risk management practices are likely to benefit from easier access to finance, while those slower to adapt may face higher borrowing costs. These circulars also ensure that climate risks are systematically integrated into the financial sector, promoting long-term resilience and stability.

BSP CIRCULAR 1187 – SUSTAINABLE FINANCE TAXONOMY
BSP Circular 1187 introduces the Sustainable Finance Taxonomy Guidelines (SFTG), a framework that classifies economic activities based on their environmental and social sustainability. The taxonomy uses a “traffic light” system —green for aligned activities, amber for transitional activities, and red for non-aligned activities. This classification is crucial for guiding banks and investors in directing capital toward projects that support climate change mitigation and adaptation. By preventing greenwashing, the SFTG ensures that sustainable finance practices in the Philippines are both transparent and credible.

UPCOMING SEC SUSTAINABILITY REPORTING FORM
The Securities and Exchange Commission (SEC) is set to introduce a mandatory sustainability reporting form for publicly listed companies, requiring disclosures aligned with International Financial Reporting Standards (IFRS) S1 and S2. These standards emphasize the identification and management of climate-related risks and opportunities, encouraging companies to integrate sustainability into their core business strategies. For investors, these reporting requirements will provide critical insights into the sustainability practices of Philippine companies, facilitating more informed and responsible investment decisions.

CHARTING A SUSTAINABLE PATH
The Philippines stands at a crossroads in its sustainability journey, with recent regulatory reforms and evolving market dynamics steering the nation towards a greener future. As climate change becomes an increasingly pressing global issue, the country is responding with innovative and comprehensive legislative measures and initiatives that aim to reduce carbon emissions and promote sustainable practices, while fostering economic growth, enhancing community resilience, and ensuring environmental justice.

The impending introduction of the SEC’s mandatory sustainability reporting form marks a significant step towards greater transparency and accountability in corporate environmental practices. By aligning with international standards, this move propels companies toward more sustainable operations and equips investors with the requisite information to make responsible decisions. As the nation forges ahead with these regulatory changes, businesses can play a pivotal role in the transition to a sustainable economy, with the potential to set a precedent for other emerging markets in the region.

The second part of this article will discuss the roadmap for IFRS S1 and S2 adoption, the severity of rising climate-related loss and damage, rising growth in electric vehicle (EV) adoption, emergence of green steel in construction, decarbonization of the aviation industry, and the innovative approaches and opportunities that are emerging for businesses ready to adapt and thrive in this new landscape.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the author and do not necessarily represent the views of SGV & Co.

 

Bonar A. Laureto is an assurance principal and leads Climate Solutions under the Sustainability Services team of SGV & Co.

Philippines has newly minted Grandmaster in Daniel Quizon

GM DANIEL QUIZON (center)

Men’s and women’s chess teams climb standings

BUDAPEST, Hungary — There will be a million reasons to smile for newly minted Filipino Grandmaster (GM) Daniel Quizon.

The 20-year-old Mr. Quizon became the Philippines’ 17th GM and the first since Oliver Barbosa and Richard Bitoon achieved the feat 13 years ago after his 37-move win over GM Igor Efimov in a 4-0 decimation of Monaco in Saturday’s fourth round of the 45th FIDE Chess Olympiad at the cavernous BOK Sports Hall here.

And for that feat, Mr. Quizon stands to receive P1 million from Dasmariñas, Cavite Mayor Jenny Barzaga, who will fulfill the solemn promise made by former Dasmariñas Congressman Pidi Garzaga before he passed away.

“I’m happy to fulfill my dream since I started playing chess,” said Mr. Quizon, whose trip here was financed by the Philippine Sports Commission through chair Richard Bachmann and commissioner Ed Hayco and NCFP head Butch Pichay.

It was a glorious day for Philippine chess overall as its women’s team, spearheaded by the gutsy, giant-slaying Shania Mae Mendoza on top board, blanked El Salvador, 4-0, to stay in medal contention.

Both the men and the women, coached by GMs Eugene Torre and Jayson Gonzales with Atty. Ruel Canobas as delegation head, leapfrogged to a share of 13th place in a big group with six match points apiece.

Capping the men’s rout were wins by GM Julio Catalino Sadorra and IMs Paulo Bersamina and Jan Emmanuel Garcia while WGM Janelle Mae Frayna and WIMs Jan Jodilyn Fronda and Bernadette Galas delivered the other triumphs for the women’s in the other boards.

It added to the team’s fervor that Mr. Sadorra celebrated his 37th birthday the same day with a win.

Ms. Mendoza has been a revelation as she has flourished on board one by scoring 3.5 points out four, a performance that surprised the Sta. Rosa, Laguna native herself.

Ms. Mendoza, whose highest board she played in the past Olympiads she’d been board two.

The country shoots for more glory as it tackles 26th seed Slovenia in the men and 24th pick Italy in the women in the fifth round.

In the overall race, three Asian teams — India, China and Vietnam — share the lead with five others with perfect records of eight match points.

The Vietnamese, the Southeast Asian kingpins, gatecrashed there by pulling the rug from under defending champion Uzbekistan, 3-1.

It also included war-torn Ukraine, which shocked top seed United States in a 2.5-1.5 result that was sealed, signed and delivered by grizzled vet GM Vasyl Ivanchuk over Cavite-born Wesley So on the second board. — Joey Villar

PHL draws African and Asian powerhouses in FIVB Men’s Volleyball World Championship

PHILSTAR FILE PHOTO

HOST Philippines has been grouped with African and Asian powerhouses in Pool A of the 2025 FIVB Men’s Volleyball World Championship after the official draw attended by international officials, coaches and players on Saturday at the Solaire Resort in Parañaque City.

As host, Alas Pilipinas men along with the Top-7 ranked countries in No. 1 Poland, No. 2 France, No. 3 USA, No. 4 Slovenia, No. 5 Italy, No. 6 Japan and No. 7 Brazil were seeded right away from Pools A to H before determining their group mates.

And as the smoke cleared, the Philippines under the watch of former Olympic coach Angiolino Frigoni of Italy pulled 11-time African champion Tunisia, current title holder Egypt and Asian runner-up Iran in a favorable but still tough draw without any European opponent.

Iran is ranked No. 15 in the FIVB world rankings, Egypt at No. 20 and Tunisia at No. 24 compared to Alas at No. 64, making it a tall order for the Filipino spikers when they host the 32-team tourney for the first time ever on Sept. 12 to 28.

Three-time world champion, European champion and current No. 1 Poland leads Pool B with Romania, Qatar and the Netherlands as France, the back-to-back Olympic champion and newly-crowned VNL king, drew Korea, Finland and Argentina in Pool C.

Fan favorite USA will collide with Colombia, Portugal and 2010 world championship silver medalist Cuba in Pool D, Slovenia clashes with Chile, Bulgaria and 2014 bronze medalist Germany in Pool E as 2022 world champion Italy battles Algeria, Belgium and Ukraine in Pool F.

Another crowd darling in Japan spearheads Pool G with Libya, former European champion Turkey and Canada as former Olympic and world champion Brazil headlines Pool H with 2024 Challenge Cup winner China, Czech Republic and Serbia to cap the 32 teams.

The Netherlands’ Nimir Abdel-Aziz, Slovenia’s Tine Urnaut and Asian legend Nootsara Komkom of Thailand, which will host the women’s world championship also next year, facilitated the drawing of lots for the world joust slated at the Smart Araneta Coliseum and Mall of Asia Arena.

Alas men, bannered by Frigoni, and women, led by former Olympic gold medalist for Brazil and now coach Jorge de Brito, along with the national team players also graced the momentous event.

To mark a year-long countdown, FIVB general director Fabio Azevedo turned over the world championship trophy to the Philippine National Volleyball Federation (PNVF) led by president and newly-elected Asian Volleyball Confederation (AVC) chief Ramon “Tats” Suzara, and Philippine local organizing committee (LOC) led by co-chairmen William Vincent Araneta Marcos and Senator Alan Peter Cayetano.

“As we count the days, with less than 365 to go, our hearts will collectively beat even faster and stronger in anticipation for every volleyball fan to come see the matches here in the Philippines. We open our doors, our arms and our hearts to all,” said Mr. Suzara.

“It is the legacy of the World Championships we all want to see in the Philippines: a new generation of fans and athletes being inspired and a better world shaped by volleyball,” added Mr. Azevedo. — John Bryan Ulanday

Playoff seeding on the line for league-leading New York, second-placed Minnesota

THE New York Liberty can lock up the top seed in the WNBA playoffs on Sunday afternoon when they host the Minnesota Lynx.

The Liberty (31-6) have a three-game lead on the Lynx (28-9) for the top seed with three games remaining in the WNBA regular season. The Lynx have a one-game lead on the Connecticut Sun for the No. 2 seed.

Minnesota is one of the few WNBA teams to give the Liberty trouble this season. Minnesota handed the Liberty their worst loss of the season, 84-67, on May 25. The Lynx also beat the Liberty 94-89 on June 25 for the Commissioners Cup title, though the Commissioners Cup final doesn’t count in the regular-season standings.

A win by the Lynx would give them the most wins in one season in franchise history dating back to 1999.

“Hopefully, we will get that,” Lynx coach Cheryl Reeve said with a smile after Friday night’s 83-66 win over the Chicago Sky. “We’re playing more games (now), but that’s still great. There’s a lot of people who didn’t have us being able to win that many games coming into the season. Not that that matters, but I think what is special is winning that many games.

“We’re hard to play against. We win at home. A lot of great things have come from the season so far.”

Minnesota has won 12 of its last 13 games. Lynx All-Star forward Napheesa Collier is fourth in the WNBA with 20.3 points per game. The Lynx lead the WNBA in assists (23.3 per game), three-point shooting percentage (37.9) and are the best defensive team in the WNBA, allowing opponents to shoot 40.9 percent from the floor.

New York has won five in a row after crushing the Dallas Wings 99-67 on Thursday night. They are led by their Big Three of Breanna Stewart (20.2 points per game), Sabrina Ionescu (19.1) and Jonquel Jones (14.6).

“It’s just being locked in,” Liberty coach Sandy Brondello said. “We want to keep that No. 1 seed, and it’s about playing the right way when the game really matters.”

Brondello spent Friday night in Phoenix at the Mercury’s 10th anniversary celebration of their WNBA title in 2014. She was the head coach of the Mercury that year. — Reuters

Messi scores 2 goals in return as Inter Miami beats Union

LIONEL MESSI returned from his injury layoff to score his 13th and 14th MLS goals and contribute his 14th assist, and Inter Miami overcame an early deficit to earn a 3-1 victory over the Philadelphia Union on Saturday night.

Luis Suarez added his team-leading 17th goal in second-half stoppage time to keep him two behind DC’s Christian Benteke for MLS Golden Boot and maintain Miami’s lead in the Supporters’ Shield race.

Jordi Alba contributed his 11th and 12th assists on Messi’s goals on a night Miami (19-4-5, 62 points) became the first team across the 60-point threshold.

Drake Callender made seven saves in the Herons’ fifth consecutive victory and ninth out of 10 despite playing the previous nine of those without Messi, the eight-time Ballon d’Or winner.

Mikael Uhre scored in the opening moments for the Union, who began the night in 11th place in the Eastern Conference and two points beneath the playoff line.

Philadelphia offered a better performance than the final score indicated, besting Miami 20-9 in shots and 8-4 in efforts on target, but being thwarted at times by Callender and others due to its own wastefulness.

Messi last played for Miami on June 1 before departing for Argentina’s Copa America campaign, and he hadn’t played any competitive minutes since suffering an ankle ligament injury in the Copa America final on July 14.

But it didn’t take him long to assert himself and erase Miami’s early deficit.

In the 26th minute, Suarez took Alba’s entry pass with his back to the goal and laid the ball to his left with his first touch. Messi took the layoff, evaded Kai Wagner’s challenge then drilled a low strike to beat Andrew Rick.

Four minutes later, it was Alba providing the cross directly for Messi to run onto at the penalty spot and guide in. Rick dove low and touched the ball, but couldn’t keep it out.

Miami weathered considerable second-half pressure before Messi made his final contribution, laying the ball off for Suarez to curl in the bottom left corner on Miami’s final foray forward of the evening. — Reuters

Vinicius, Mbappe penalties give Real Madrid 2-0 win at Sociedad

SAN SEBASTIAN, Spain — Real Madrid’s Vinicius Jr. and Kylian Mbappe converted second-half penalties to give the champions a hard-fought 2-0 win at Real Sociedad in LaLiga on Saturday.

Carlo Ancelotti’s side took the lead in the 58th minute with Vinicius netting a penalty after an Arda Guler shot from the edge of the box hit the hand of midfielder Sergio Gomez, who raised both arms in a reflex move to protect his face.

Mbappe secured the three points by putting away his spot kick in the 75th after Vinicius was stomped on by a defender in a late challenge that was not spotted by the referee but was penalized after a VAR review.

Real remain second but now have 11 points, one behind Barcelona who visit fifth-placed Girona on Sunday. They must now rally their players with only three days before their Champions League opener at home to Stuttgart on Tuesday.

It was a high-paced, entertaining affair in the Basque Country with both sides missing a string of chances, including three strikes off the woodwork by the hosts.

Facing a selection headache with defender David Alaba and midfielders Jude Bellingham, Eduardo Camavinga, Dani Ceballos and Aurelien Tchouameni still recovering from injuries, Real Madrid manager Carlo Ancelotti made three changes from the team that beat Real Betis before the international break.

But the Italian was hit with another injury to one of his key players early in Saturday’s game when Morocco attacking midfielder Brahim Diaz had to come off with what looked like a right leg muscle injury in the 24th minute. — Reuters

Caitlin Clark, Fever close out home slate vs Dallas Wings

THE Indiana Fever will take the court for their final regular-season home game of a franchise-changing campaign Sunday when they host the Dallas Wings.

Though the Fever are coming off a 78-74 loss to the two-time defending champion Las Vegas Aces on Friday, rookie Caitlin Clark made more history by setting the WNBA single-season record for assists by passing Alyssa Thomas’s mark of 316. Clark set the rookie assist record in August.

She’s averaging 8.4 assists per game along with 19.1 points and 5.8 rebounds for Indiana, which has clinched a playoff spot for the first time since 2016.

The Fever (19-19) are looking to snap a two-game skid when it takes on the Wings (9-29), who have the league’s second-worst record after their 83-81 home loss to the Seattle Storm on Friday.

For Dallas, Sunday’s game is about putting an end to a 15-game road losing streak. The Wings have won just twice away from home, the last on May 26 with an 84-83 victory over the Los Angeles Sparks. — Reuters

Jerry West legacy

For a long, long time, Jerry West and the Lakers were inseparable. He led their cause as a player for 14 years, and he was so good that his image and likeness were used by the National Basketball Association for its logo. And for all the exploits of all the marquee names in the 78-year history of the league, he remains the only recipient of the Finals Most Valuable Award as a member of the losing side. Needless to say, he remained influential when he could no longer ply his trade on the court; among other astute moves he made in the front office, he orchestrated the acquisitions of icons Kobe Bryant and Shaquille O’Neal, leaders of their two three-peats since the turn of the millennium.

Considering West’s myriad imprints, the Lakers were only right to push for a season-long celebration of his name. Through all their 82 games in the 2024-25 campaign, they will wear uniforms with a band bearing his number 44. On Opening Night, they will likewise give fans at Crypto.com Arena a replica of his jersey. Not coincidentally, he will be recognized by the Basketball Hall of Fame as an executive this year — his third such enshrinement in Springfield. Well deserved, to be sure, and just too bad that these will happen posthumously.

Why the Lakers took a while to put West front and center is anybody’s guess. When he passed away in June, they came out with a bland press release that barely highlighted his exploits — and well after the publication of rival Clippers’ own statements replete with apt superlatives. And this was after they made their pettiness evident to all and sundry by rescinding his season tickets two years ago, as clear a reflection as any of a relationship that went the way of the Dodo during the Phil Jackson era.

More — a lot more, really — can be noted of why a Jerry Buss favorite became a stranger to the purple and gold, but, at this point, West and his worth to the franchise and the NBA are better served by looking ahead. For the spotlight to rightly be his and his alone, the disputes and varied interpretations of their origins need to be left behind — perhaps for good. What cannot be denied is his legacy. Enough said.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Venezuela arrests Spain and US nationals for ‘destabilization’

VENEZUELAN FLAG flutters outside the Torrejon de Ardoz Air Force Base outside Madrid, Spain, Sept. 8, 2024. — REUTERS

CARACAS — Two Spaniards, three US citizens and a Czech have been arrested in Venezuela on suspicion of links to alleged plans to destabilize the South American country, a top Venezuela official said on Saturday.

A spokesperson for the US State Department said “a US military member” had been detained in Venezuela and that it was aware of unconfirmed reports of two additional US citizens being detained there, but rejected a Venezuelan claim of US involvement in any plot to overthrow the government.

The Venezuelan announcement is likely to deepen the country’s already substantial tensions with Spain and the United States after Venezuela’s disputed presidential election in July.

Venezuelan Interior Minister Diosdado Cabello in a press conference said two Spaniards were allegedly linked to Spain’s secret service and planning the assassination of a mayor.

Spanish media reported that Spain’s government denied this claim.

Mr. Cabello also accused three US citizens and a Czech of involvement in terrorist acts, including alleged plans to assassinate Venezuelan President Nicolas Maduro and other officials.

“These groups seek to seize the country’s wealth, and we as a government will respond firmly to any destabilization attempt,” Mr. Cabello said. He added that about 400 rifles originating in the United States had been seized.

The State department said the US was not involved in an attempt to oust Mr. Maduro.

“Any claims of US involvement in a plot to overthrow Maduro are categorically false,” the spokesperson said. “The United States continues to support a democratic solution to the political crisis in Venezuela.”

“We are seeking additional information. We are closely monitoring the situation,” the official added, while declining to provide additional details due to privacy considerations.

A Spanish foreign ministry source told Reuters it was asking Venezuela for more information.

“The Spanish embassy has sent a verbal note to the Venezuelan government asking for access to the detained citizens in order to verify their identities and their nationality and in order to know what they are accused of exactly,” the source said, speaking on condition of anonymity.

The Spanish nationals were detained while taking photographs in the town of Puerto Ayacucho, Mr. Cabello said.

“These citizens have links — we know they will say no, that it is a lie — they have links with the center,” Mr. Cabello said, referring to Spain’s intelligence arm.

“Spain will decide what to do, if it is going to keep meddling in Venezuela’s affairs.”

Venezuela recalled its ambassador to Spain this week for consultations and summoned the Spanish ambassador to appear at the foreign ministry after a Spanish minister accused Maduro of running a “dictatorship,” escalating diplomatic tensions following a disputed presidential election.

Venezuela was also angered by the decision of Spanish Prime Minister Pedro Sanchez to meet with Venezuelan opposition candidate Edmundo Gonzalez Urrutia, who went into exile in Spain last week after being threatened with arrest by Mr. Maduro’s regime.

Caracas also has had fresh tensions with the United States, which recognized opposition candidate Gonzalez Urrutia as the winner of the July 28 election. — Reuters

Online dating caused a rise in US income inequality, research paper shows

THE Match Group, Inc. website — BLOOMBERG

ONLINE DATING may be partially to blame for an increase in income inequality in the US in recent decades, according to a research paper.

Since the emergence of dating apps that allow people to look for a partner based on criteria including education, Americans have increasingly been marrying someone more like themselves. That accounts for about half of the rise in income inequality among households between 1980 and 2020, researchers from the Federal Reserve Banks of Dallas and St. Louis and Haverford College found.

Using data from the Census Bureau’s American Community Survey from 2008 to 2021, when online dating quickly became prevalent, the economists found that women became slightly more selective when choosing partners based on age, while men became slightly more selective based on education.

But when the researchers compared that with data on married couples from 1960 and 1980, they found that people in the recent period increasingly went for partners with the same wage and education levels. And while many people married someone of the same ethnicity, people became less and less selective on race over time.

Who people marry has a major impact on household income. The research shows that the two main contributors to inequality through the selection of a future spouse are education and skills. They are followed, to a much lesser extent, by income and age, while race plays a relatively inconsequential role, co-author Paulina Restrepo-Echavarría, an economic policy advisor at the St. Louis Fed, said in a blog post describing the paper.

Overall, the predominance of online apps to find a future partner has led to a 3-percentage-point increase in the Gini coefficient — a widely used measure of income inequality, the research shows.

“We find that the increase in income inequality over the past half a century is explained to a large extent by sorting on vertical characteristics, such as income and skill, and their interaction with education,” the economists wrote in their paper. — Bloomberg

Photos likely show undeclared North Korea uranium enrichment site, analysts say

SEOUL — Photos of North Korea’s its uranium enrichment facility may show an undeclared site for building nuclear bombs just outside of its capital, analysts said.

North Korea for the first time showed images on Friday of the centrifuges that produce fuel for its nuclear bombs, as leader Kim Jong Un visited a uranium enrichment facility and called for more weapons-grade material to boost the arsenal.

The photos showed Mr. Kim walking between long rows of metal centrifuges, the machines that enrich uranium. The report did not mention the facility’s location.

North Korea watchers and analysts said the site, known as Kangson, is suspected to be a covert uranium enrichment plant.

Jeffrey Lewis, a non-proliferation expert at the Middlebury Institute of International Studies, said five images of the inside facility, including of the “big” hall and an annex released by state media, match features of satellite imagery of the nuclear site.

The annex’s odd shape and it unusual set of columns and beams are a “strong match” to the site North Korea constructed this year, he said.

“That’s likely Kangson. It is an enrichment plant,” Mr. Lewis added.

North Korea is believed to have several sites for enriching uranium.

Analysts say commercial satellite imagery has shown construction in recent years at the main Yongbyon Nuclear Scientific Research Center and the Kangson site, suggesting possible expansion in both places.

Colin Zwirko, a senior analytical correspondent with NK Pro, a Seoul-based website that monitors North Korea, said the photos and satellite imagery indicate the complex is Kangson.

In June, Rafael Grossi, the International Atomic Energy Agency’s director general, said a new annex to the main building in the Kangson complex was being built this year, adding that the complex shared “infrastructure characteristics with the reported centrifuge enrichment facility at Yongbyon.”

During the visit that was covered by North Korean media, Kim stressed the need to boost the number of centrifuges to “exponentially increase” the nuclear arsenal, and expand the use of a new type of centrifuge to strengthen the production of weapon-grade nuclear materials.

The photos that showed an advanced design of centrifuges and the hall with cascades connecting the centrifuges suggested the North Korea had made progress in uranium enrichment program, according to experts.

“The size of the cascades and hall shown also signify substantial capacity, perhaps not to the level of ‘exponential growth’ as Mr. Kim has mandated, but significant growth, nonetheless,” 38 North, a Washington-based North Korea monitoring program, said in a note.

“It is probable that these centrifuges are North Korean designed and manufactured,” it said, adding that the location showed in the photos could be Yongbyon.

The disclosure of its secretive nuclear facility could also be meant to influence the US election and send a message to the next administration that denuclearization is no longer possible, some experts said. — Reuters

G7 foreign ministers condemn Iran’s export of ballistic missiles to Russia

THE LOGO for the G7 is visible at the G7 Foreign Ministers’ Meeting at The Prince Karuizawa hotel in Karuizawa, Japan April 17, 2023. — ANDREW HARNIK/POOL VIA REUTERS

ROME — The foreign ministers of the Group of Seven (G7) industrialized powers condemned on Saturday “in the strongest terms” Iran’s export and Russia’s procurement of Iranian ballistic missiles.

Iran has provided Russia with a large number of powerful surface-to-surface ballistic missiles, deepening the military cooperation between the two countries, which are both under US sanctions.

“Iran must immediately cease all support to Russia’s illegal and unjustifiable war against Ukraine and halt such transfers of ballistic missiles, UAVs (drones) and related technology, which constitute a direct threat to the Ukrainian people as well as European and international security more broadly,” the G7 ministers said in a statement.

“We remain steadfast in our commitment to hold Iran to account for its unacceptable support for Russia’s illegal war in Ukraine that further undermines global security. In line with our previous statements on the matter, we are already responding with new and significant measures.”

Italy currently holds the presidency of the G7 group of wealthy nations which also includes the United States, Japan, Germany, Britain, France and Canada. — Reuters

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