Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - Improved household surveys significantly enhance the measurement of consumption, leading to higher reported living standards and a potential redefinition of national poverty lines, but often result in minimal changes to national poverty rates due to upward adjustments in these lines [2][10] - The international poverty line remains fixed, which can lead to dramatic decreases in international poverty rates when new surveys reveal increased consumption, necessitating caution in temporal comparisons of poverty rates [11][12] - The design of household surveys, including recall periods and the inclusion of various consumption categories, is critical for accurate poverty measurement and can lead to substantial increases in reported consumption [20] Summary by Sections Household Surveys and Poverty Measurement - Most countries utilize household surveys to assess poverty, focusing on consumption levels to determine poverty status [4] - The design of these surveys greatly influences the data collected, affecting the accuracy of poverty assessments [5] Impact of Improved Surveys - Enhanced survey methodologies have led to an average increase of 46% in real mean consumption across 12 countries, attributed to capturing previously overlooked consumption [6] - Following improvements in survey quality, national poverty lines in ten countries increased by an average of 50%, which often offsets the increase in measured consumption [7][10] International Poverty Line Dynamics - The international poverty line, fixed at US$2.15 per day, can show significant declines in poverty rates when new surveys report higher consumption levels, as seen in cases like Guinea-Bissau and China [11][12] - The report emphasizes the need for caution when comparing international poverty rates over time, as improvements in survey methodologies can exaggerate perceived declines in poverty [12][13] Recommendations for Future Surveys - Countries should implement high-quality household surveys to ensure comparability and accuracy in poverty estimates, which is essential for reliable cross-country comparisons [16][20] - Strategies to mitigate the impact of survey design changes on poverty comparisons include maintaining a smaller sample with the old questionnaire or using imputation models for consistent trend analysis [17][18]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The technology landscape is rapidly evolving with significant advancements in AI, cloud computing, and digital transformation, presenting both opportunities and challenges for companies in various sectors Group 1: AI and Digital Transformation - Georgia Pacific is leveraging AI and Generative AI to enhance manufacturing processes, aiming to predict equipment failures 60 to 90 days in advance [2][3] - The company has partnered with KCG Technologies, AWS, C3 AI, and SAS to implement AI solutions, utilizing over 60,000 sensors across its equipment [3] - AI tools are designed to optimize machine settings and provide operational insights, enabling less experienced workers to perform at higher competency levels [4][5] Group 2: Fleet Management and Safety - Samsara introduced AI-based solutions to address driver fatigue, which is a significant cause of trucking accidents in the U.S., with nearly half of such accidents attributed to this issue [6][7] - The company’s dual-facing AI dashcam detects signs of drowsiness and alerts drivers and safety managers, filling a critical gap in fleet safety [6] Group 3: Automotive Industry Developments - Volkswagen is entering a joint venture with Rivian, investing an initial US$1 billion to enhance its software capabilities in the electric vehicle market [9][10] - This partnership aims to leverage VW's capital and supply chain influence alongside Rivian's software expertise to compete in the evolving automotive landscape [10][11] Group 4: Cloud Computing in Asia-Pacific - The Asia-Pacific region is becoming a hub for technology innovation, with major cloud providers like AWS and Microsoft investing heavily in local infrastructure [16][17] - AWS plans to invest US$12 billion in Singapore's cloud infrastructure over the next four years, while Microsoft is investing US$4.6 billion in Indonesia and Japan [16] Group 5: Carbon Capture Technology - Carbon Capture, Utilization, and Storage (CCUS) technology is seen as essential for achieving Net Zero Emissions by 2050, yet it currently captures only 0.1% of global emissions [20][22] - Significant financial investments are required for CCUS implementation, which has hindered its adoption despite its potential [21][22] Group 6: Drone Industry Opportunities - The potential U.S. ban on DJI drones could create opportunities for new drone hardware providers, as DJI currently dominates the consumer-grade drone market [25][26] - Regulatory changes are also paving the way for new drone applications, with countries developing infrastructure to support drone operations [26][27]

Investment Rating - The report indicates a positive outlook for the private credit market in Asia Pacific, highlighting its growing importance and potential for expansion [2][3][59]. Core Insights - Private credit is increasingly filling the financing gap created by higher funding costs and regulatory scrutiny on banks, particularly in the Asia Pacific region [2][3]. - The private credit market is expected to continue expanding, driven by institutional investors seeking returns and risk diversification [3][59]. - There is a notable trend towards sustainability-linked loans within the private credit sector, reflecting the growing importance of ESG considerations [4]. Summary by Region Australia - The private credit market is growing, filling the gap left by declining bank lending due to regulatory scrutiny [10]. - Sustainability-linked loans are expected to see steady growth [10]. Mainland China - The private credit market is becoming more active, with opportunities for offshore funds due to deregulation and increased foreign investment [12][13]. - Challenges include restrictions on borrowing by real estate companies and the need for court involvement for enforcement [13]. Hong Kong - The private credit market is expanding, with credit funds focusing on special situations [19]. - Non-banking entities can lend without a banking license under certain conditions [19]. India - The private credit market is gaining traction due to higher delinquencies faced by banks and liquidity issues in non-banking financial companies [30]. - Private companies can provide credit support for acquisitions, while public companies face stricter regulations [32]. Indonesia - The private credit market is growing, driven by increasing consumer demand and the expansion of financial services [33][34]. - Private credit is expected to play a significant role in financing economic development [34]. Japan - The private credit market remains limited due to strict regulations and the dominance of banks [38][39]. - Some alternative lenders are providing mezzanine financing in special situations [39]. Malaysia - The private credit market is constrained by heavy regulations, with most lending activities dominated by licensed banks [43][44]. - Offshore private credit transactions are more common during economic downturns [44]. New Zealand - The private credit market is gradually eroding the dominance of major banks, driven by international trends and increased awareness of private credit [48]. - Private credit is expected to continue growing as borrowers seek more flexible terms [48]. Philippines - The private credit market is developing, but lending activities are highly regulated [54]. - The Personal Property Security Act has improved the legal framework for secured transactions [54]. Singapore - The private credit market is experiencing significant growth, with credit funds increasing their portfolios [60]. - Funds can lend without a banking license under certain conditions, but must comply with local regulations [60][61]. South Korea - The private credit market is resilient, with government support addressing concerns about debt crises [64]. - There is a growing appetite for refinancing existing deals as interest rates are expected to ease [64]. Taiwan - The private credit market is limited due to strict regulations, but insurers are exploring lending opportunities [68]. - Foreign lenders face challenges in holding security over certain types of collateral [70]. Thailand - The private credit market is dominated by licensed banks, but foreign lenders can provide loans without a banking license under certain conditions [75][77]. - Companies can provide credit support for acquisitions, but must comply with legal requirements [77]. Vietnam - The private credit market is limited, with lending primarily conducted by licensed credit institutions [78]. - Offshore funds can provide loans without a banking license, but must navigate regulatory challenges [81].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The Egyptian Goodwill Committee is focused on enhancing child-friendly justice and addressing international parental child abduction cases, with a commitment to improving governance and legal frameworks [7][18]. - The report emphasizes the need for Egypt to consider ratifying the Hague Convention on International Child Abduction to align with international standards and improve cooperation with OECD member states [22][34]. Summary by Sections Executive Summary - The Goodwill Committee has managed approximately 200 international parental child abduction cases since its establishment in 2000, with around 85 still active [18]. - The review identifies opportunities for reform in governance arrangements, multilateral ratification, and addressing systemic barriers [19]. Assessment and Recommendations - The report outlines three main streams for reform: enhancing governance arrangements, reviewing multilateral ratification, and implementing prevention mechanisms [25]. - Recommendations include including new child justice institutions in the Committee, clarifying roles and responsibilities, and revising the Committee's mandate to prioritize the best interests of the child [30]. Understanding Child Rights and Child Abduction Frameworks - Egypt has ratified key international instruments for child rights, including the Convention on the Rights of the Child [40]. - The report discusses the complexities of international parental child abduction and the need for effective governance frameworks to manage such cases [45][51]. Strengthening the Mandate and Institutional Arrangements - Recommendations include enhancing the Committee's capacity by including the National Council for Childhood and Motherhood and the Child Protection Bureau as permanent members [20]. - The report suggests streamlining access to the Committee's services and improving case management processes [21]. Enhancing Access and Participation - The report highlights the importance of developing a user-friendly communication strategy to raise awareness of the Committee's services [33]. - It also emphasizes the need for procedural improvements to facilitate access and participation in the justice process [4.4]. Considering a Transition to Multilateral Governance - The report recommends that the Government of Egypt assess the viability of ratifying the Hague Convention to strengthen its governance framework [34]. Removing Systemic Barriers and Considering Prevention Mechanisms - The report identifies systemic barriers such as child travel bans and suggests mechanisms to mitigate these issues, including requiring parents to register their contact details upon entry to Egypt [35].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report emphasizes that business as usual is unsustainable, with plastic production projected to rise from 435 million tonnes (Mt) in 2020 to 736 Mt in 2040, while mismanaged waste is expected to increase from 81 Mt in 2020 to 119 Mt in 2040 [29][30] - It highlights the need for stringent policies across the plastics lifecycle to prevent growth in primary plastics production and nearly eliminate plastic leakage to the environment by 2040 [30][31] - The report outlines that global ambition has modest macroeconomic costs, with a projected 0.5% global GDP loss in 2040 compared to the baseline scenario, but with significant environmental benefits [30][31] Summary by Sections Executive Summary - The report investigates the potential benefits and consequences of varying levels of international policy ambition to tackle plastic pollution, emphasizing that partial measures are insufficient to end plastic pollution [28][29] - It presents a scenario where stringent policies can limit total plastics use to 508 Mt in 2040 and enhance recycling rates to 42%, nearly eliminating mismanaged waste [30][31] Chapter 1: Context and Objectives - The chapter discusses the dual role of plastics in society, providing benefits while also contributing to severe environmental and health issues [36][37] - It notes the international commitment to develop a legally binding instrument on plastic pollution, highlighting the urgency for comprehensive policy approaches [37][38] Chapter 2: Business-as-Usual is Unsustainable - The report projects that plastic waste will grow to 617 Mt by 2040, with significant leakage to the environment increasing to 30 Mt [29][30] - It emphasizes that current policies are inadequate to alter trends in plastic flows and pollution significantly [30][31] Chapter 3: Modelling Policy Packages - The chapter details the modelling framework used to analyze various policy scenarios, focusing on the lifecycle of plastics and the economic activities driving their use [43][44] - It presents ten policy instruments grouped into four pillars aimed at curbing plastic production and enhancing recycling [16][46] Chapter 4: Implications of Policy Scenarios with Partial Ambition - The report indicates that partial ambition scenarios fail to eliminate plastic leakage and can only modestly slow down primary plastics use [30][31] - It highlights the importance of strong policy commitments to achieve significant reductions in mismanaged plastic waste [30][31] Chapter 5: Implications of Policy Scenarios with High Ambition - The report asserts that ambitious integrated policies can decouple economic activity from plastics use and significantly reduce mismanaged plastic waste [30][31] - It emphasizes that all policy pillars are essential in achieving the goal of eliminating plastic waste by 2040 [30][31] Chapter 6: Comparison of Costs Across Scenarios - The analysis shows that policy packages targeting all stages of the plastics lifecycle are more cost-effective at the macroeconomic level [30][31] - It notes that non-OECD countries face higher investment needs to enhance waste management systems [30][31] Chapter 7: Challenges and Priorities - The chapter discusses the need for significant technical, economic, and governance improvements to implement ambitious policies globally [30][31] - It highlights the importance of international cooperation and financing to support developing countries in their policy efforts [30][31]

Investment Rating - The report does not explicitly provide an investment rating for the industry discussed Core Insights - Ethiopia and Sudan experienced significant democratic openings in 2018 and 2019, respectively, which presented opportunities for U.S. support for democratization, but ultimately failed to lead to democratic consolidation and descended into civil wars [5][9] - The U.S. government missed opportunities to support peaceful democratic change and exacerbated conflict drivers through exclusionary and short-sighted policies [5][9] - The report emphasizes the need for the U.S. to better seize opportunities for democracy, aligning policies with high-level commitments and recognizing the role of emerging powers [5][10] Summary by Sections Introduction - The U.S. faces challenges in supporting democratic openings in fragile and conflict-affected states, particularly in the context of a global democratic recession and competing interests [8] Four Key Lessons - The report outlines four key lessons for U.S. policymakers: align policy with high-level commitment, factor in the role of emerging powers, recognize underlying structural factors, and prioritize inclusivity [10][11] Ethiopia - Ethiopia's democratic opening was marked by significant reforms under Prime Minister Abiy Ahmed, but internal political fragmentation and external influences complicated the transition [33][39] - The U.S. response to Ethiopia's opening was characterized by a lack of high-level commitment and insufficient resources, leading to missed opportunities for supporting democratization [50][52] Sudan - Sudan's democratic opening faced similar challenges, with the U.S. failing to adequately engage with emerging powers and misreading the political landscape, which contributed to the eventual coup [10][21] - The report highlights the importance of recognizing structural factors and the need for inclusive policies to support democratic transitions in both countries [25][30] Conclusion - The report concludes that the U.S. must learn from these cases to improve its approach to supporting democratic openings in the future, emphasizing the importance of commitment, inclusivity, and understanding local contexts [5][10]

Industry Overview - The report focuses on **Transit-Oriented Development (TOD)** in emerging cities, emphasizing the integration of land use and transport planning to create sustainable, walkable, and transit-friendly urban environments [17][18] - Emerging cities, which house 75% of the global urban population, are expected to grow significantly, particularly in Asia and Africa, adding 2.3 billion urban dwellers by 2050 [21][86] - Urban transport is a major contributor to greenhouse gas (GHG) emissions, with private vehicles being the least carbon-efficient mode of transport per passenger-kilometer [22][87] Core Findings - **Low-carbon mobility** is already prevalent in many developing cities, with high modal shares of walking, biking, and public transport, and low motorization rates compared to developed countries [25][90] - **Density** in developing cities is a key advantage, with many informal settlements exceeding 60,000 inhabitants per km², supporting public transport and active mobility [26][92] - Despite these advantages, many emerging cities face challenges such as **inefficient urban planning**, **scattered development patterns**, and **lack of integration between transport and land use policies**, leading to increased motorization and congestion [29][93] Theoretical Framework - The report uses a **3-Value Framework (3V)** to analyze TOD, focusing on **node value** (transit ridership), **place value** (urban quality and walkability), and **market potential value** (real estate development potential) [36][128] - **Urban economics** highlights the trade-off between travel costs and rent, with higher densities near transit hubs generating demand for public transport [33][108] - **Land Use Regulations (LUR)** play a critical role in shaping urban development, with zoning, floor area ratios (FAR), and parking policies influencing transit ridership and walkability [38][162] Sandbox Model Insights - A **sandbox model** was developed to simulate the impact of LUR on transit ridership, showing that **higher FAR** and **plot coverage ratios** increase public transport use, while **setback requirements** and **parking mandates** reduce it [40][42] - The model predicts that **transit-friendly LUR** throughout the city, not just near transit corridors, is essential for creating a compact, transit-oriented urban form [43][72] Recommendations for TOD - **Accessibility analyses** should be conducted to evaluate the impact of transport investments and urban form on mobility, particularly for vulnerable groups like women [68] - **Housing affordability** should be tracked through the ratio of median income to median housing prices, with LUR adjusted to allow for more housing supply [70] - **City-wide TOD strategies** should adopt LUR that maximize node, place, and market values, including high FAR, low setbacks, and mixed land uses, to promote transit-oriented development [75][77] Case Studies and Examples - **Japan's zoning system** allows mixed land uses and high FAR in all zones, promoting densification around transit stations and affordable housing [38][162] - **Barcelona's Superille (Super-Island)** concept demonstrates how transit-friendly LUR can improve public transport ridership and urban walkability [43][62] - **Curitiba and Bogota** are examples of cities that started with arterials and sidewalks, later upgrading to bus rapid transit systems as demand increased [62][64]

Investment Rating - The report does not provide a specific investment rating for the industry Core Insights - The document serves as a user guide for the Amended Common Reporting Standard (CRS) XML Schema, which facilitates the automatic exchange of financial account information between tax administrations [6][11] - The CRS is designed to enhance transparency and combat tax evasion by enabling jurisdictions to obtain and exchange financial information on reportable accounts [11][12] - The XML schema is structured to support the reporting requirements of the CRS, including detailed specifications for data elements and their attributes [12][13] Summary by Sections Introduction - The OECD, in collaboration with G20 countries, developed a common standard for reporting and exchanging financial account information [11] - The schema is a technical solution for holding and transmitting information electronically [11][12] CRS Schema Information - The schema includes a message header, details about account holders, and reporting financial institutions [13] - It reuses elements from the FATCA schema, indicating some elements are optional for CRS reporting [15] Guidance on Correction Process - The user guide provides instructions on how to correct data items within a file that can be processed automatically [12][16] Appendix A - Contains diagrams representing the CRS XML Schema with all its elements [17] Appendix B - Includes a glossary of namespaces for the CRS XML Schema [17]

Investment Rating - The report does not provide a specific investment rating for the industry. Core Insights - The document outlines the Crypto-Asset Reporting Framework (CARF) approved by the OECD in 2023, which facilitates the automatic exchange of information between tax administrations regarding crypto-assets [6][12]. - The CARF XML Schema is designed for the exchange of information reported under CARF between competent authorities and can also be used for domestic reporting by Reporting Crypto-Asset Service Providers [13][12]. - The CARF Body contains information on Reporting Crypto-Asset Service Providers, Crypto-Asset Users, and relevant transactions, ensuring compliance with tax reporting requirements [67]. Summary by Sections Introduction - The CARF User Guide links to the CARF XML Schema, which is divided into logical sections detailing specific data elements and attributes [12]. CARF XML Schema - The schema includes a Message Header, Organisation Party type, Person Party type, and the CARF Body, which collectively facilitate the reporting process [12][67]. Message Header - The Message Header identifies the sender, recipient, message type, and reporting period, ensuring clarity in communication between tax administrations [18][19]. Organisation Party Type - This section defines the information related to Entity Reporting Crypto-Asset Service Providers and Entity Crypto-Asset Users, including residence country codes and tax identification numbers [26][29]. Person Party Type - The Person Party Type provides identification information for individual Reporting Crypto-Asset Service Providers and Crypto-Asset Users, including tax identification numbers and addresses [44][49]. CARF Body - The CARF Body includes details on Reporting Crypto-Asset Service Providers and Crypto-Asset Users, as well as information on relevant transactions, ensuring comprehensive reporting [67]. Annexes - The report includes diagrams and a glossary of namespaces related to the CARF XML Schema, aiding in understanding the structure and requirements of the schema [16][8].

Investment Rating - The report does not provide a specific investment rating for the industry discussed Core Insights - The first year of the Gaza conflict has resulted in the forced displacement of 85% of the population, with nearly two million people displaced and over 41,000 deaths reported [3][4] - The displacement is characterized as a strategic objective of the conflict, aimed at territorial expansion and intended to be permanent, with no possibility of return for the displaced [8][10] - The situation in Gaza exemplifies a failure of international humanitarian law and asylum protections, highlighting the inadequacies of the international response to the crisis [3][15] Summary by Sections Displacement and Conflict - The conflict has led to a significant humanitarian crisis, with the UN declaring the situation in Gaza as reaching unprecedented emergency levels [4][5] - The mechanisms of forced displacement include evacuation orders from the Israeli government, bombings destroying civilian infrastructure, and severe limitations on access to basic necessities [4][12] Historical Context - The expulsion and expansion dynamic has been a constant in Palestinian history since the establishment of Israel in 1948, with previous instances of mass displacement occurring during the Nakba and subsequent conflicts [11][16] - The report draws parallels between the situation in Gaza and other historical cases of organized forced migration, such as the Rohingya crisis in Myanmar [8][9] International Law and Responsibility - The report critiques the failure of international law to protect civilians in conflict, emphasizing the need for a reevaluation of the roles of UN agencies like UNRWA and ACNUR in providing refugee protection [17][19] - The geopolitical implications of the refugee crisis are significant, with neighboring countries reluctant to accept Palestinian refugees, further complicating the humanitarian response [21][22] Geopolitical Dynamics - The conflict has led to a geopolitization of migration, where states use migration policies as tools for negotiating international relations, particularly in the context of Egypt's role in managing refugee flows [21][24] - The report highlights the economic pressures on Egypt and the potential for international financial agreements to influence its refugee policies [22][25] Public Opinion and Future Implications - There is a growing disconnect between official government positions and public opinion regarding the conflict, particularly in Western countries, which may influence future political outcomes [29]