Investment Rating - The MRO industry is rated positively, with expectations of continued financial performance improvement and increased investment activity over the next two years [7][8]. Core Insights - The MRO industry has fully recovered from the COVID-19 pandemic, with spending forecasted to reach $120 billion in 2024, a 7.2% increase from the pre-COVID peak in 2019 [4][67]. - The industry is expected to grow at an annual rate of 2.7% through 2035, reaching $156 billion [4][5]. - Key disruptors identified include material shortages, labor and material cost management, and the adoption of generative AI [10][12]. Demand and Market Trends - The MRO market reached over $114 billion in 2024, with a forecasted increase to $120 billion in 2025 due to factors like aging fleets and increased aircraft utilization [4][67]. - The MRO sector is experiencing a "super cycle" driven by higher maintenance needs of an aging fleet [67]. Business Climate - 68% of survey respondents believe the financial performance of the MRO industry improved over the past year, with 72% expecting continued improvement [7]. - Nearly three-quarters of respondents anticipate increased outside investment and deal activity in the next two years [7]. Investment Segments - Engines are expected to attract the most investment, followed by components and heavy airframes [8]. - The engine segment is favored due to pronounced supply chain challenges and better margins compared to labor-intensive segments [8]. Disruptors - Material shortages emerged as the top disruptor, followed by labor and material cost management [10]. - Changes to fleet plans and the adoption of generative AI are also significant disruptors [12]. Supply Chain Challenges - Supply chain issues persist, with over half of respondents expecting challenges to last at least another 18 months [15]. - Two-thirds of respondents indicated a need for improved supplier performance and inventory availability to regain confidence in the supply chain [16]. Material Cost Inflation - Material costs increased by an average of 7.7% last year, with expectations of a 6.3% rise next year [18][19]. - The MRO/OEM segment experienced slightly higher cost increases compared to operators [18]. Labor Market Dynamics - Labor supply remains strained, with wage inflation reported at 6.6% last year, and a projected slowdown to 5.7% next year [30][31]. - The shortfall of certified mechanics in North America is expected to grow to 19% by 2028 [33]. Labor Productivity - Over half of respondents reported improvements in frontline labor productivity, driven by better training and communication [38]. - MROs/OEMs reported slightly better productivity gains compared to operators [38]. AI Adoption - AI adoption in the MRO industry is increasing, with 64% of respondents reporting value realization from AI investments [54]. - The focus of AI applications includes cost management, efficiency, and materials forecasting [58][59]. Conclusion - The MRO industry is on a growth trajectory, surpassing pre-COVID levels and expected to exceed $150 billion in the next decade [67][68]. - Challenges remain in material and labor cost inflation, supply chain weaknesses, and labor supply constraints, but strategies are being implemented to enhance productivity and embrace AI [68].

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The WHO design principles and tools aim to enhance the usability and impact of WHO guidelines by focusing on the needs of end users and improving implementation at the country level [2][3] - The development of these principles involved extensive co-design workshops with participants from 15 countries, emphasizing a user-centered approach [8][9] - The principles are designed to be complementary to existing WHO documentation and informed by user feedback to ensure relevance and effectiveness [4][5] Summary by Sections Design Principles - The design principles include: 1. Design with empathy by understanding people and their context 2. Design for living guidelines 3. Design for accessibility 4. Design for clarity 5. Design for translation to multiple languages [13][21] Tools for Implementation - Relevant tools developed to support the design principles include: - T1: Stakeholder network map - T2: Enablers and barriers - T3: Empathy map - T4: Guideline journey mapping - T5: Annotated sample guideline chapter - T6: Design guide - T7: Translated sample guideline page [15][40][46] Development Process - The principles were developed over two years through four workshops, focusing on improving accessibility, clarity, and translation [8][11][12] - Insights from over 70 end-users were gathered to identify barriers in guideline use and inform the design process [7][8] Focus Areas - Emphasis on understanding the unique circumstances of guideline users to enhance implementation [22] - Guidelines should be treated as living documents that can be updated easily to reflect new evidence [26] - Accessibility is crucial, ensuring guidelines are usable by individuals with various impairments and available across multiple platforms [30] - Clarity in communication is essential, with guidelines written in plain language and structured for easy navigation [35] - Consideration for translation is necessary to accommodate diverse languages and cultural contexts [38]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The paper introduces a new approach to measuring Global Value Chain (GVC) participation, emphasizing the need for accurate metrics for informed policy-making [2][8] - It identifies three modes of GVC participation: pure backward, pure forward, and two-sided, which allows for a more nuanced understanding of how countries and industries engage in GVCs [8][25] - The findings indicate that traditional trade-based GVC metrics significantly underestimate global GVC activity, particularly in sectors like services and upstream manufacturing [9][10] - GVC participation is shown to enhance overall output stability while increasing exposure to external shocks, highlighting its dual role in economic dynamics [11][21] Summary by Sections Introduction - The emergence of GVCs complicates policy-making by introducing new opportunities and risks compared to traditional trade [7] - GVC-led growth strategies can lead to better access to inputs and technology but also present challenges such as income inequality and exposure to imported shocks [7][8] Methodology - The paper develops enhanced accounting measures using inter-country input-output (ICIO) data to assess GVC participation [22] - A tripartite decomposition of GVC trade is introduced, allowing for a comprehensive evaluation of countries' and sectors' engagement in GVC activities [24][25] Findings - Approximately half of GVC production, around USD 10 trillion in 2019, remains unaccounted for when only traditional trade metrics are considered [9] - The new metrics reveal that low and middle-income countries may be more shielded from international disturbances than previously thought during early trade liberalization phases [10] - GVC participation is positively correlated with higher per capita income growth, indicating its significance in economic development [11] Related Literature - The report discusses the need for rigorous measures of GVC participation to inform economic growth and development questions [13] - It highlights the limitations of existing measures and the importance of a comprehensive approach to understanding GVC dynamics [17][18] Conclusion - The paper underscores the importance of accurate GVC measurement for informed policy decisions and economic development strategies [12][21]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report highlights the significant reliance on liquid fuels for electricity generation in West Africa, which imposes high costs and financial burdens on utilities [9][20] - It emphasizes the potential for enhanced regional power trade as a cost-effective solution to reduce dependence on liquid fuels and improve financial sustainability [10][28] - The report outlines practical steps for countries to reduce liquid fuel reliance, even in the absence of regional integration [57] Summary by Sections Key Findings & Recommendations - Liquid fuels contribute to high electricity costs, averaging US$ 0.26/kWh, and account for 73% of regional generation costs [9][20] - Regional power trade could triple from 9.7 TWh to 29.5 TWh by 2030, leading to an 82% reduction in liquid fuel generation [9][32] - Improved dispatch and management of existing grid assets can further reduce liquid fuel use [9][10] - Contractual terms for liquid fuel generation often create financial vulnerabilities for utilities [9][10] Liquid Fuels in West Africa's Current Power Generation Landscape - In 2022, liquid fuels provided 4.5 GW of capacity and generated 12.7 TWh of electricity across 14 West African countries [11][12] - Liquid fuels account for 14% of the total energy mix and 16% of installed power capacity in the region [17] - The average cost of electricity service is correlated with reliance on liquid fuels, with fuel costs comprising 73% of annual power generation expenses [20][21] Liquid Fuel Phase-down through Regional Power Trade - The West African Power Pool (WAPP) has the potential to significantly reduce liquid fuel dependence through enhanced regional trade [28][55] - The modeling indicates that full regional trade could lead to a reduction of 20 million tons of CO2 emissions by 2030 [47][55] - Addressing barriers such as poor financial performance of utilities and historical nonpayment issues is crucial for deeper integration [56] Developing Domestic Options for Near-term Liquid Fuel Reduction - Countries can optimize existing grid assets and improve management of liquid fuel contracts to reduce reliance on liquid fuels [57][62] - Dispatch optimization studies can lead to significant reductions in liquid fuel usage without major new infrastructure investments [62][63] - Scaling up alternatives to liquid fuels, including renewable energy sources, is essential for long-term sustainability [57][74]

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The report outlines the newly implemented (Trial) Measures for Science and Technology Ethics Reviews, which aim to regulate ethical reviews in scientific research and technology development, emphasizing the importance of responsible innovation and risk prevention [7][8] Summary by Sections General Provisions - The Measures are formulated to strengthen the governance of science and technology ethics and to promote responsible innovation [7] - S&T activities that require ethics reviews include those involving human participants, laboratory animals, and activities posing ethical risks [8] Reviewers - Institutions such as universities and research organizations are responsible for managing S&T ethics reviews and must establish ethics review committees for sensitive research areas [14][15] - The committees must have at least seven members with diverse expertise and backgrounds [17] Review Procedures - S&T ethics risk assessments are mandatory before conducting S&T activities, and applications for ethics reviews must include detailed information about the proposed activities [20][21] - The review committee can approve, modify, or disapprove applications based on ethical considerations [35] Supervision and Management - The Ministry of Science and Technology (MOST) oversees the overall guidance of S&T ethics reviews, while local departments manage supervision [64] - Work units must register their ethics review committees and report on their activities annually [67][70] Supplementary Provisions - The Measures define "S&T ethical risk" and outline the criteria for minimal risks, which are routine risks encountered in daily life [81] - The Measures will be implemented starting December 1, 2023 [86]

Investment Rating - The report does not explicitly provide an investment rating for the aluminium industry. Core Insights - The aluminium industry is projected to increase production by over a third by 2050, leading to rising emissions unless decarbonisation measures are implemented [20][88] - Aluminium production accounted for approximately 1.1 gigatonnes (Gt) of CO2 emissions in 2022, primarily due to reliance on fossil fuels [19][67] - The integration of renewable energy sources such as solar and wind is essential for reducing the carbon footprint of aluminium production [21][22] - The report emphasizes the need for a supportive policy environment to accelerate the transition towards low-carbon aluminium [30][32] Summary by Sections Executive Summary - Aluminium is crucial in various industries but significantly contributes to climate change, with emissions projected to rise without decarbonisation efforts [19][20] - The report outlines the role of renewable energy and other levers to reduce emissions in the aluminium sector [20][28] Introduction - The aluminium market was valued at approximately USD 160 billion in 2022, with over 7 million jobs supported globally [39] - The report discusses the environmental impact of aluminium production, which emitted over 1.1 billion tonnes of CO2 equivalent in 2022 [39][67] Transformation Pillars: Towards Net Zero in the Aluminium Sector - The report identifies three key pillars for decarbonisation: increasing low-carbon electricity sources, eliminating direct emissions, and maximizing recycling [89] - It highlights the importance of integrating renewable energy into smelting processes to significantly reduce emissions [95][102] Recent Progress and Key Actions - Several aluminium producers are already integrating renewables into their operations and participating in research and development initiatives [28][29] - The report calls for collaborative efforts among governments, producers, and other stakeholders to achieve decarbonisation goals [29][30]

Investment Rating - The report emphasizes the need for dynamic social registries in the Sahel to enhance adaptive social protection systems, indicating a positive outlook for investment in this area [2][5][26]. Core Insights - Countries in the Sahel are experiencing interconnected shocks, particularly from climate change and conflict, necessitating systems that can quickly identify changes in household welfare [2][3]. - Adaptive Social Protection (ASP) is highlighted as an effective approach for governments to support the poorest and most vulnerable populations, integrating various social protection policies and programs [3][8]. - Dynamic social registries are essential for accurately assessing welfare changes among vulnerable populations, enabling timely and effective support during crises [4][9][26]. Summary by Sections Recommendations for Dynamic Social Registries - Establish a permanent client-interface for households to provide and update data on-demand, ensuring the registry reflects current welfare conditions [5]. - Adopt a modular structure for socioeconomic questionnaires to enhance data collection efficiency and reduce costs [5][40]. - Ensure interoperability with other data sources and ASP delivery systems to improve coordination and effectiveness [6]. - Promote systematic peer-to-peer learning to enhance national capacities in implementing dynamic social registries [6][52]. Introduction - The policy note consolidates findings from a study on dynamic social registries in low-income and shock-prone contexts, particularly in the Sahel [7]. Importance of Dynamic Social Registries - Static social registries in the Sahel often lead to outdated data, which can significantly affect targeting accuracy and program effectiveness [23][24]. - Dynamic registries can mitigate data decay and support inclusive social protection programs, maximizing impact during rapidly changing conditions [26]. Features of Dynamic Social Registries - Dynamic registries allow continuous updates and intake of new data, combining self-reported information with administrative records [27]. - Key features include a unique gateway for households, continuous updates, and assessment of household needs based on program eligibility criteria [27]. Data Intake Modalities - Countries can maintain current social registries by utilizing various data sources, including direct self-reported data and indirect data from administrative records [28][34]. - A combination of direct and indirect data collection methods is recommended to ensure comprehensive household information [39]. Modular Structure for Questionnaires - Modular questionnaires can improve data management efficiency by allowing targeted data collection based on program needs [40][46]. - The core module captures essential data for all households, while complementary modules can be tailored for specific programs [46]. Cross-Country Learning - Systematic cross-country learning and cooperation can accelerate the establishment and expansion of dynamic social registries in the Sahel [52]. Conclusion - The design and implementation of dynamic social registries require balancing timely data collection with comprehensive coverage to effectively support vulnerable households [54][55].

Investment Rating - The report does not explicitly provide an investment rating for the industry [4]. Core Insights - The poverty assessment indicates that Türkiye has made significant progress in poverty reduction, with poverty rates halving from over 20% in 2007 to 9.84% in 2020, and chronic poverty declining from 24% to 10% [32][40]. - The main driver of poverty reduction has been income growth, particularly from labor, rather than redistribution of welfare [33][70]. - The report highlights the importance of tracking inequality outcomes and ensuring progressive growth to sustain poverty reduction [70]. Summary by Sections Introduction and Summary - The assessment aims to document the evolution of monetary poverty in Türkiye over the past two decades and identify the main drivers behind poverty reduction [18][19]. - It links changes in income distribution and shared prosperity trends over time, including a special section on poverty dynamics [18][19]. Recent Literature on Poverty, Inequality, and Mobility in Türkiye - Various studies have documented the trajectory and drivers of poverty, inequality, and mobility in Türkiye, showing a significant reduction in poverty rates driven by economic growth [21][22][23][24]. - The literature emphasizes the role of social assistance and economic reforms in reducing poverty and inequality [26][27][28][29]. Summary of Main Findings - Türkiye has seen a considerable decline in poverty rates, with chronic poverty and vulnerability to poverty also decreasing significantly [32]. - Labor income growth has been progressive, particularly between 2009 and 2016, contributing to shared prosperity [33][34]. - The demographic profile of the poor indicates that children and larger households are more vulnerable to poverty [36][37]. Policy Proposals - The report suggests prioritizing the creation of productive jobs that raise labor incomes and investing in human capital to eliminate poverty [71].

Investment Rating - The report does not explicitly state an investment rating for the facilities management industry but emphasizes the transformative potential of IoT and AI technologies in enhancing operational efficiency and sustainability. Core Insights - The integration of IoT and AI in facilities management is revolutionizing the industry, enabling improved sustainability, operational efficiency, cost savings, and safety [4][5]. - Facilities management is increasingly driven by the need for enhanced ESG reporting due to stricter regulations and customer expectations [7][8]. - Predictive and preventive maintenance enabled by IoT can significantly reduce maintenance costs and unplanned downtime while extending asset lifespans [12][15]. - Smart security devices enhance safety and operational efficiency in facilities management [23][24]. - The combination of IoT and AI provides actionable insights for better decision-making and operational efficiency [29][30]. Summary by Sections 1. Improved ESG Reporting Amid Stricter Regulations - Growing pressure from regulators and customers is driving the need for higher ESG performance standards [7]. - IoT-enabled facilities management aids in accurate data collection and real-time monitoring, ensuring compliance with regulations [9][10]. - Automated resource management and emission reduction strategies are facilitated by IoT technology [10][11]. 2. Predictive and Preventive Maintenance for Greater Savings - IoT technology can reduce maintenance costs by up to 20%, cut unplanned downtime by 50%, and extend asset lifespans by 25% [12]. - Transitioning from reactive to preventive and predictive maintenance enhances reliability and reduces emergency repair frequency [14][15]. - Investments in smart devices and sensors are necessary for effective predictive maintenance [16][17]. 3. Smart Security Devices for Safety and Efficiency - IoT integration in security systems enhances safety through real-time monitoring and advanced access control [23]. - Smart cameras and motion sensors improve surveillance and reduce false alarms [24][25]. - IoT-enabled RFID tags and smart shelves optimize inventory management and enhance operational efficiency [27][28]. 4. Integrating AI and Data for Better Decision-Making - The integration of IoT with AI allows for advanced analytics, providing actionable insights for facility managers [29][30]. - Predictive analytics helps forecast equipment failures and optimize resource allocation [30][31]. - Automating routine tasks through AI streamlines operations and allows facility managers to focus on strategic priorities [31][32]. 5. Use Case: Optimizing Space Utilization With Occupancy Tracking - IoT devices provide real-time data on space usage, helping to identify underutilized areas and optimize room reservations [34][35]. - Monitoring occupancy levels ensures safety and compliance with regulations [35][36]. - Data-driven decision-making can improve energy efficiency and forecast spatial needs [37]. 6. Future of Facilities Management - The report highlights the necessity for continuous adaptation and innovation in facilities management, particularly through IoT and AI adoption [38]. - Investments in these technologies are expected to deliver substantial long-term value, improving ESG performance and reducing costs [38].

Investment Rating - The report does not explicitly provide an investment rating for the hydrogen mobility sector in developing countries, but it highlights the potential for fuel cell electric vehicles (FCEVs) to emerge as economically viable alternatives in specific markets by 2030 [17][35]. Core Insights - Clean hydrogen is positioned as a key component in the transition to clean energy, particularly in sectors where emissions are hard to abate, such as transport [26][27]. - The report emphasizes the economic viability of FCEVs in densely populated countries, where environmental benefits may offset higher costs compared to internal combustion engine vehicles [35][47]. - The analysis indicates that while battery electric vehicles (BEVs) currently outperform FCEVs economically across all segments, FCEVs have operational advantages that could make them suitable for niche markets [36][51]. Summary by Sections Chapter 1: Hydrogen Mobility in Developing Countries - The transport sector is responsible for 22% of global CO2 emissions, necessitating a reduction of over 3% annually to meet net zero targets by 2050 [73]. - Clean hydrogen is gaining traction as a decarbonization solution for heavy-duty transport, despite the dominance of BEVs in the passenger vehicle market [74][75]. Chapter 2: Hydrogen Production and Cost Estimation - Global hydrogen demand reached 97 million tonnes in 2023, with projections to grow to 49 million tonnes annually by 2030 [26]. - The report discusses the levelized costs of hydrogen production and refueling, highlighting the need for significant investment to scale up the clean hydrogen economy [24][31]. Chapter 3: Economics of Hydrogen Mobility - The economic analysis compares FCEVs, BEVs, and internal combustion engine vehicles across various segments, indicating that FCEVs face high capital and fuel costs [32][38]. - FCEVs could become economically viable in high-density urban areas, particularly in India and Korea, where air quality improvements justify their higher costs [47][48]. Chapter 4: Hydrogen Mobility Policy and Recommendations - The report outlines several recommendations for promoting hydrogen fuel adoption, including integrating clean hydrogen pilot projects into national strategies and targeting FCEV deployment in high-impact niche markets [56][60]. - It emphasizes the importance of developing robust policy frameworks to support the clean hydrogen economy and ensure alignment with renewable energy generation [61][64].