Fukushima Nuclear Power Plant to Release Wastewater & more– 4th July 2023

Saluton from Tibidabo! This is Rorshok Multilateral Update from the 4th of July twenty twenty-three A summary of what's going down in the world's major multilateral institutions.

The International Atomic Energy Agency (known as IAEA) is gearing up for a visit to Japan's Fukushima nuclear power plant. The situation in the nuclear plant is a result of the 9.0 Riechter magnitude earthquake that took place on the 11th of March intwenty eleven, which provoked a nuclear disaster. The plant then went through a ten-year clean-up process.

Director General Rafael Grossi is heading over to the island nation next week so the IAEA can set up an office at the plant. The Tokyo Electric Power Company confirmed that the international agency’s officials will be on-site for inspections when the plant releases its wastewater into the sea.

Grossi will have an important meeting with Japanese Prime Minister Fumio Kishida. On that day, Grossi will present the final report on the UN agency's assessment of the water release plan. If there are no major concerns raised in the report, Japan will move forward with the discharge. However, the date for the release of wastewater hasn’t been decided yet..

In the meantime, Prime Minister Kishida wants to make sure that maximum safety measures are in place. He directed officials to address any rumors and provide thorough explanations both domestically and internationally before the discharge takes place. Safety is the top priority here.

Moving on to China, the world's leading marine fishing producer, formally entered into a historic trade agreement for ocean sustainability on Thursday the 29th of June.

This agreement supports a global deal struck by the World Trade Organization (WTO) a year ago, which aims to eliminate harmful subsidies that empty the oceans of fish due to overfishing. The agreement also condems illegal fishing, overfished stocks, and fishing on the unregulated high seas.

China's support is crucial as it has the largest fishing fleet globally. Now, with China, thirty-six countries, including all EU members, have formally entered into the agreement. The goal is to have all members ratify it before the 13th WTO Ministerial Conference next year. The agreement marks an important step towards environmental sustainability and demonstrates the strength of multilateral cooperation. It complements the UN's high seas treaty protecting marine biodiversity. The World Economic Forum emphasizes the need for global solutions to address challenges like ocean sustainability.

At an energy conference in Malaysia held on the 26th of June, OPEC Secretary General Haitham Al Ghais stated that oil will remain a significant fuel source for the world until at least the twenty forties. He mentioned that oil demand is expected to rise to 110 million barrels per day. Despite the growth of renewables, gas, hydrogen, and nuclear energy, oil is projected to account for 29% of the global energy mix.

He said the world will require more oil to meet the growing energy demand while also striving to reduce emissions. As the global economy doubles in size and the population reaches 9.5 billion by twenty forty-five, Al Ghais highlighted the need for an expansion of all kinds of energy, and ensuring basic energy access for all.

However, he expressed concerns about chronic underinvestment across all energy sources, The oil industry will require an estimated $12.1 trillion dollars by twenty forty-five, but recent levels of investment have fallen below this target due to various factors, such as the hesitation from investors due to the high cost of development and production.

Al Ghais urged industry policymakers and stakeholders to work together to create an investment-friendly atmosphere and ensure sufficient finance for both producers and consumers. He emphasized the need for clear energy policies to facilitate a fair and inclusive, transition while addressing constant calls to halt investment in new oil projects.

Meanwhile, Turkish President Recep Tayyip Erdogan criticized Sweden for allowing the burning of a Quran in central Stockholm on the 28th of June, potentially reigniting tensions that previously affected Sweden's NATO membership bid. In a video message for the Muslim Eid holiday, Erdogan condemned those who used freedom of expression as a pretext for such acts. He emphasized that insulting the sacred values of Muslims does not constitute freedom of expression.

Erdogan previously opposed supporting Sweden's NATO application after a similar Quran-burning incident in January. He has also expressed dissatisfaction with Sweden's anti-terror law, saying it doesn’t deem Kurdish militants terrorists.

Jens Stoltenberg, NATO Secretary-General, acknowledged the offensiveness of the Quran burning but stated that protests against both Sweden and Turkey are not illegal. He stressed the importance of finalizing Sweden's NATO accession, noting that Sweden has fulfilled its obligations.

The recent incident occurred just before planned discussions between Sweden and Turkey regarding the membership bid ahead of the NATO leaders' summit next week.

Swedish authorities have attempted to prevent similar Quran-burning incidents with permit denials due to security concerns, but court rulings have overridden them.

The individual responsible for the burning, an Iraqi man, had previously been denied permission to publicly burn the Quran but won court appeals. He is now under investigation for hate crimes and violating local fire regulations.

Denys Shmyhal, Ukraine's Prime Minister, announced that the country will receive a $1.5 billion dollar loan from the World Bank to support reconstruction and recovery efforts.

Funding will particularly focus on assisting internally displaced people and ensuring pension payments.

In June, Ukraine received $3 billion dollars in budget support, with 40% provided as grants. Additionally, the International Monetary Fund (or IMF) completed a loan review, granting Kyiv access to $890 million dollars for immediate budget support.

Global financial institutions have recently made changes to their policies to offer vital support to Ukraine. For example, unlike previous programs, the IMF is not insisting on energy tariff hikes, showcasing a positive departure from past requirements. This adaptation not only benefits Ukraine but also sets a precedent for other countries facing similar external challenges in the future.

The Mercosur summit commenced on Monday the 3rd, with Argentina, the host country, urging an update to the long-stalled trade deal with the European Union.

Argentina argued that the existing agreement resulted from an asymmetrical relationship between the two blocs. However, expectations for the summit's ability to finalize the deal are low, given the EU's concerns over environmental protections, particularly in the Brazilian Amazon.

The Mercosur countries (Argentina, Brazil, Paraguay, and Uruguay) and the EU reached an agreement in twenty nineteen after two decades of negotiations. The EU has proposed a "side letter" to address additional environmental guarantees, which has sparked discontent among South American leaders.

The EU insists on including compliance with the Paris climate accords in any deal with Mercosur nations. Argentine Foreign Minister Santiago Cafiero emphasized the need to deepen ties between Mercosur and the EU, stating that an update to the twenty nineteen draft agreement was necessary due to its unequal effort distribution and excessive emphasis on environmental issues over economic and social considerations.

And to close this edition, the UN Security Council unanimously passed a resolution to extend the mandate of the African Union Transition Mission in Somalia (ATMIS) until the 31st of December twenty twenty-three.

ATMIS was established in Apriltwenty twenty-two as a replacement for the African Union Mission in Somalia (known as AMISOM) to combat the al-Shabaab Islamists. The resolution outlines a phased withdrawal of ATMIS troops, with 2,000 soldiers already in the process of being withdrawn by the end of June.

The Somali government, in coordination with the African Union, plans to undertake necessary preparations for the next phase of the withdrawal of 3,000 soldiers by September.

The resolution sets a new, reduced troop quota of about 15,000 personnel from the 1st of October to the end of twenty twenty-three, with a provision to review these numbers by the 15th of September.

The Council expressed concern about the ongoing threat posed by al-Shabaab despite noting Somalia's progress against the group.

The African country repeated its call for the lifting of the partial UN arms embargo, arguing that it hampers the government's ability to provide adequate resources to its security forces to counter the evolving al-Shabaab threat.

The Security Council renewed the arms embargo in November, except for weapons intended for the development of Somali security forces subject to notification to the relevant UN committee.

That’s it for this week! Thanks for joining us!

Last week we have also launched the Rorshok Ocean Update, about the 70% Earth's surface covered in salt water. Coming soon, we'll be launching the Rorshok Arctic Update. You can look for them in your podcast listening app of choice or follow the links in the show notes! Tell your friends!

See you next week!