Source: Federated Farmers

Federated Farmers is welcoming clarity from the Department of Conservation on the next steps to determine the future of New Zealand’s iconic Molesworth Station.

“The Department of Conversation (DOC) has run a really robust, competitive and fair process to get to this point,” Federated Farmers president Colin Hurst says.

“We congratulate Ngāi Tahu Farming on putting forward a strong business case and being selected as the preferred operator to negotiate for the lease.

“Molesworth is an incredibly special property for all New Zealanders, owned by all New Zealanders, so it’s important whoever takes on the lease is well set up to succeed.”

Hurst says Ngāi Tahu Farming is a credible South Island farming operation with the scale, experience and financial resilience needed to farm a property like Molesworth.

“Ngāi Tahu Farming has a strong balance sheet that would allow them to keep farming through tough years with drought or poor commodity prices,” Hurst says.

“It’s also well placed to run an integrated system with existing finishing farms around North Canterbury – so the decision makes sense from that perspective.”

Hurst says it’s important Molesworth’s core focus remains maintaining a viable pastoral livestock farming operation, as it has been for the last 175 years.

“There also need to be clear expectations set that public access to Molesworth is protected and that there is a commitment to active weed and pest management.”

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Source: Fire and Emergency New Zealand

Fire and Emergency New Zealand remains committed to working with the Zealand Professional Firefighters Union (NZPFU) to achieve a fair and sustainable settlement, Acting Deputy National Commander Ken Cooper says.

“Most recently, the Employment Relations Authority (ERA) proposed both parties exchange their full revised bargaining positions at the same time, to help assess whether further facilitation is likely to assist.

“We agreed to this. The NZPFU did not.

“We continue to urge the NZPFU to call off these reckless strikes and engage with us and the ERA to try and come to a resolution so that their members can get the pay increases they deserve, and we can continue working together to keep communities safe.

“Fire and Emergency’s most recent offer compares favourably with other public sector settlements and would have delivered a 2.2 percent increase from 1 December 2025 and 2.2 percent from 1 January 2027 over a 24-month term to the end of November 2027. This was at a cost of $50m over four years.

“By comparison, the NZPFU’s settlement proposal was for more than $130 million over the same period.

“That is not financially realistic at a time where we also have to keep investing in the trucks and equipment our people need to do their jobs safely.

“In the meantime, we have provided an annual pay adjustment to operational leaders and office staff as per Fire and Emergency’s Remuneration Policy.

“This is their first market rate review increase since 2024. It is not fair to make them wait until the NZPFU comes back to negotiations to settle its agreement before adjusting their pay.

“The offer to the NZPFU included a 2.2 per cent pay rise and a number of other financial elements in addition to the pay rise, which the pay adjustment to operational managers and office staff does not include.”

During the fiftieth strike action today, Friday 31 July, Fire and Emergency received calls for 21 incidents between 12 pm and 1pm. Of the 21 incidents, 17 were in areas impacted by the strike.

Twelve were false alarms. Three were medical events that were attended to by Hato Hone St John, as per contingency planning. One was a motor vehicle collision. One was a small rubbish fire, which was out on arrival of volunteer firefighters.

“Should the NZPFU continue to take strike action, our advice remains the same. If there is a fire, get out early, stay out, then call 111,” Ken Cooper says..

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Source: Earth Sciences New Zealand

Outlook Summary

Regional predictions for the next three months:

• Northland, Auckland, Waikato, Bay of Plenty
• Central North Island, Taranaki, Whanganui, Manawatu, Wellington
• Gisborne, Hawke’s Bay, Wairarapa
• Tasman, Nelson, Marlborough, Buller
• West Coast, Alps and foothills, inland Otago and Southland Coastal Canterbury, east Otago.

Outlook Summary

• El Niño conditions persist in the tropical Pacific atmosphere and ocean, and by all measures the event has strengthened over the last month – including the strongest atmospheric measurements on record for July. We remain in its early stages; impacts on New Zealand’s weather patterns are yet to be fully felt, but are anticipated during this outlook period.

• Air flow patterns are expected to eventually favour a prevailing westerly direction, characteristic of El Niño conditions, as the season progresses. This is expected to be more apparent from mid-spring onwards.

• Seasonal air temperatures for August – October 2026 are most likely to be near average for the east of the North Island. They are about equally likely to be near average or above average for all other New Zealand regions. This does not preclude occasional cold outbreaks, for example in early August, which are a typical aspect of late winter and spring weather patterns.

• Rainfall totals for August – October 2026 are about equally likely to be near normal or below normal for the north and east of the South Island, and the east of the North Island. Rainfall is most likely to be below normal for the remainder of the North Island. Meanwhile, rainfall is most likely to be above normal for the west of the South Island.

• New Zealand has experienced several heavy rain events from the north over the past year.

These northerly rain events have already reduced in frequency in recent months, and this trend is expected to continue. The main heavy rain threat instead is expected to shift toward the western and lower South Island.

• The likelihood of below normal rainfall in several regions is likely to translate to below normal groundwater recharge, creating challenges for water-reliant sectors.

• During August – October 2026, soil moisture levels and river flows are expected to be near normal or below normal for the east and north of both islands, the west of the North Island, and the north of the South Island. In the west of the South Island, they are expected to be near normal or above normal.

• Warmer-than-average subsurface ocean temperature anomalies have continued to strengthen and expand across the tropical Pacific, providing clear support for El Niño to intensify further and reach the very strong category in the coming months. Dynamical and statistical forecast guidance concurs, with approximately a 90% likelihood that the event will reach or exceed very strong intensity during the outlook period.

• Peak El Niño conditions are most likely to occur during the austral summer of 2026–27, with the potential for this event to have significant impacts. It is likely to develop into one of the strongest in recent history, as anticipated over the last few months (see El Niño declared, expected to intensify into one of the strongest on record).

• El Niño-related influences on regional weather patterns are expected to become more apparent later during spring as ENSO signals continue to strengthen. In New Zealand, this is expected to favour periods of active westerlies, bringing an increased risk of unusually windy conditions and notable temperature variability. How widespread and persistent these conditions become will depend on the location and strength of nearby high-pressure systems.

• Other climate drivers and intraseasonal oscillations, for example, the Indian Ocean Dipole, the Southern Annular Mode and the Madden Julian Oscillation will still contribute to New Zealand weather patterns, though El Niño is expected to be most dominant. In general, these other drivers are moving into phases which support El Niño-like impacts.

• Sudden Stratospheric Warmings (SSW) are historically rare in the Southern Hemisphere, but in recent years have become more common. Predictability is limited, but there is justification for enhanced monitoring over the coming weeks. If an SSW does occur, its impacts on New Zealand weather patterns can be delayed by a month or more.

• Out-of-season Southwest Pacific tropical cyclones (July–October) are extremely rare. When they do occur, it is almost always under El Niño conditions. This remote risk does not currently factor into New Zealand’s current Seasonal Climate Outlook, although active monitoring remains in place.

Regional predictions for August – October 2026

The tables below show the probabilities (or percent chances) for each of three categories: above average, near average, and below average. In the absence of any forecast guidance there would be an equal likelihood (33% chance) of the outcome for any of the three categories. Forecast information from local and global guidance models is used to indicate the deviation from equal chance that is expected for the coming three-month period. All outlooks are for the three months averaged as a whole. During these three months, there will inevitably be relatively wet and dry periods, as well as hot and cold periods. The exact range in temperature and rainfall within each of the three categories varies with location and season. However, as a guide, the “near average” or middle category for the temperature predictions includes deviations up to ±0.5°C relative to the long-term mean, whereas for rainfall the “near normal” category lies between 80 percent and 120 percent of the long-term (1991-2020) mean.

Northland, Auckland, Waikato, Bay of Plenty

Probabilities are assigned in three categories: above average, near average, and below average.

• Temperatures are about equally likely to be above average (40% chance) or near average (45% chance).

• Rainfall totals are most likely to be below normal (50% chance).

• Soil moisture levels and river flows are about equally likely to be near normal (40% chance) or below normal (45% chance).

Central North Island, Taranaki, Whanganui, Manawatu, Wellington

Probabilities are assigned in three categories: above average, near average, and below average.

• Temperatures are about equally likely to be near average (40% chance) or above average (45% chance).

• Rainfall totals are about equally likely to be below normal (40% chance) or near normal (35% chance).

• Soil moisture levels are equally likely to be near normal (45% chance) or below normal (45% chance).

• River flows are about equally likely to be near normal (45% chance) or below normal (40 – 45% chance).

Gisborne, Hawke’s Bay, Wairarapa

Probabilities are assigned in three categories: above average, near average, and below average.

• Temperatures are most likely to be near average (45% chance).

• Rainfall totals are about equally likely to be below normal (45% chance) or near normal (40% chance) for the outlook period as a whole.

• Soil moisture levels and river flows are about equally likely to be near normal (45% chance) or below normal (40% chance).

Tasman, Nelson, Marlborough, Buller

Probabilities are assigned in three categories: above average, near average, and below average.

• Temperatures are equally likely to be near average (40% chance) or above average (40% chance). The likelihood of increased temperature variability, including larger swings between warm and cool conditions, as well as periods of unusually windy weather, is expected to increase during spring.

• Rainfall totals are about equally likely to be below normal (40% chance) or near normal (35% chance).

• Soil moisture levels and river flows are equally likely to be near normal (45% chance) or below normal (45% chance).

West Coast, Southern Alps and foothills, inland Otago, Southland

Probabilities are assigned in three categories: above average, near average, and below average.

• Temperatures are equally likely to be near average (40% chance) or above average (40% chance).

• Rainfall totals are most likely to be above normal (50% chance). The risk of active weather events, including heavy rainfall and strong winds, is forecast to increase during spring.

• Soil moisture levels are most likely to be near normal (50% chance).

• River flows are equally likely to be near normal (40% chance) or above normal (40% chance).

Coastal Canterbury and the nearby plains, east Otago

Probabilities are assigned in three categories: above average, near average, and below average.

• Temperatures are about equally likely to be above average (45% chance) or near average (40% chance). The likelihood of increased temperature variability, including larger swings between warm and cool conditions, as well as periods of unusually windy weather, is expected to increase during spring.

• Rainfall totals are about equally likely to be below normal (40% chance) or near normal (35% chance).

• Soil moisture levels and river flows are about equally likely to be near normal (45% chance) or below normal (40% chance).

The full probability breakdown is:

Graphical representation of the regional probabilities

Background

During July 2026, the Southern Oscillation Index (SOI) trended strongly negative, reaching its most negative July value on record since 1951, consistent with El Niño conditions. Based on daily observations through 29 July, the monthly SOI value was -3.4.

Sea surface temperature (SST) anomalies across the central and eastern equatorial Pacific continued to strengthen during July 2026, with positive anomalies now extending along the entire Equator east of the International Date Line. The Relative Niño 3.4 Index (RONI) averaged +1.4°C over the 30 days ending 29 July, well above the El Niño threshold. During August, the RONI is forecast to exceed +1.5°C, the threshold for a strong El Niño event. The current pattern of equatorial SST anomalies is consistent with the rapid development of a canonical El Niño event, similar to those of 1997/98 and 1982/83, in which the strongest warming is concentrated in the eastern rather than central Pacific.

During July, subsurface ocean temperatures across the equatorial Pacific were markedly above average and intensified further, particularly in the eastern Pacific (east of ~160°W). Temperature anomalies locally exceeded +8°C, occurring between depths of around 150 m (centred near 150°W) and 50 m (close to the South American coast). These subsurface anomalies are also continuing to be expressed at the surface, hence the continuing increases in the Relative Niño 3.4 Index.

Positive upper-ocean heat content anomalies (0-300 m) remain firmly established along the Equator east of the International Date Line. The magnitude of this subsurface heat reservoir is consistent with other observed indicators and with dynamical and statistical forecast guidance which together suggest that the ongoing El Niño is likely to reach very strong thresholds during the outlook period, and most likely continuing to strengthen further later in spring.

Rainfall and Convection: During July, enhanced convection and rainfall – indicated by negative outgoing longwave radiation (OLR) anomalies – was focused around the intertropical convergence zone (ITCZ) through the equatorial Pacific. Suppressed convection and rainfall – indicated by positive OLR anomalies – persisted across the Indian subcontinent and the maritime continent. This pattern of tropical rainfall anomalies was strongly consistent with an El Niño state and closely resembled a canonical El Niño configuration.

Trade winds remained dramatically weakened across the Pacific, and reversed entirely at times, characteristic of El Niño.

In summary, oceanic conditions are in an El Niño configuration, and setting the stage for further development during the outlook period, with particularly significant warmth (positive heat content anomalies) stored in the ocean along the Equator in the Pacific. These signals are only growing ever-stronger with time. Meanwhile, the atmosphere is also increasingly resembling El Niño. A fully-coupled El Niño has therefore emerged, although stronger ocean and atmospheric responses are anticipated as the event develops further.

The Relative Oceanic Niño Index forecasts indicate a 100% chance for El Niño conditions over the next three-month period (August – October 2026). The IRI/CPC forecasts also support this outlook. Further strengthening of the event is likely beyond the outlook period, and it is increasingly probable that the event will peak as one of the strongest on record.

The Southern Annular Mode (SAM) decreased from near record high values late in June, and showed a mixture of negative and positive modes throughout July. During August, the negative SAM mode is expected to be more common than it has been over the last two months, though occasional positive spells may still occur.

The Indian Ocean Dipole (IOD) value for July is neutral (+0.2°C). Forecasts from the Australian Bureau of Meteorology indicate that the IOD is likely to become positive over the next three month period, and is forecast to reach thresholds (+0.4°C) required to declare a positive IOD event during the spring season.

In the first week of July, the Madden Julian Oscillation (MJO) moved into the western Pacific, likely contributing to the low-pressure systems experienced in New Zealand. It then moved slowly eastwards, acting in concert with the El Niño. After making minimal impact in the Indian Ocean, it should emerge into the western Pacific again early in August, likely having some influence again on New Zealand weather patterns.

With the MJO in the western Pacific, it can also contribute to both oceanic and atmospheric components of El Niño strengthening further.

Local Sea Surface Temperatures (SSTs) are near average or above average around the majority of the country, and marine heatwave (MHW) conditions are continuing around much of the South Island and Tasman Sea. Forecasts from coupled ocean-atmosphere models for the next three-month period (see Sea Surface Temperature Update | Earth Sciences New Zealand | NIWA) indicate SSTs should continue to warm around the coastal waters of the country, especially around the South Island.

North NI +0.55°C

West NI +0.38°C

East NI +0.09°C

North SI +0.61°C

West SI +0.89°C

East SI +0.83°C

NZ 30-day coastal SST anomalies

(to 29 Jul 2026)

Figure 1: Latest 30 days SST anomalies to the 29 th July 2026, calculated with respect to the 1991-2020 climatological period.

* The Relative Oceanic Niño 3.4 Index (RONI) is a modern way of measuring oceanic El Niño and La Niña that is complementary to traditional oceanic indices. While traditional oceanic indices like the Niño 3.4 Index monitor SSTs in one region, the RONI compares the average SST in the central equatorial Pacific with the average SST across the global tropics. Since tropical rainfall patterns respond to changes in ocean temperatures, this new relative index can help forecasters better determine if the equatorial Pacific is warmer or cooler than the rest of the global tropics, which has become more challenging to discern as seas warm because of climate change.

Forecast Confidence

Temperature

Forecast confidence for temperatures is Medium. Cold weather in early August should then trend steadily towards milder conditions, ultimately influenced by the developing westerly conditions and warm seas

surrounding the country. Periodic cold outbreaks will still occur, as is normal for spring.

Rainfall Forecast confidence for rainfall is Medium-High. El Niño influenced rainfall patterns are expected to dominate the latter parts of the outlook period. Compared with previous outlooks, confidence is higher that any uncharacteristic rain events, such as in mid-August, will not upset the overall rainfall pattern over the three month period.

Notes

1. Earth Sciences New Zealand outlooks indicate the likelihood of climate conditions being at, above, or below average for the season as a whole, relative to the 1991-2020 average. They are not ‘weather forecasts’ as it is not possible to forecast precise weather conditions three months in advance.

2. The outlooks are the result of the expert judgment of scientists and forecasters. They take into account observations of atmospheric and ocean conditions and output from global and local climate models. The presence of El Niño or La Niña conditions and the sea surface temperatures around New Zealand can be useful indicators of likely overall climate conditions for a season.

3. The outlooks state the probability for above average conditions, near average conditions, and below average conditions for rainfall, temperature, soil moisture, and river flows. When a particular probability reaches or exceeds 60%, we conclude it is “very likely”.

4. This three-way probability means that a random choice would be correct only 33 per cent (or one-third) of the time. It would be like randomly throwing a dart at a board divided into three equal parts, or casting a dice with three numbers on it.

5. Where probabilities are within 5% of one another, the term “about equally” is used.

6. All outlooks are for the three months as a whole. There will inevitably be relatively wet and dry days, and hot and cold days, within a season. The exact range in temperature and rainfall within each of the three categories varies with location and season. However, as a guide, the “near average” or middle category for the temperature predictions includes deviations up to ±0.5°C for the long-term mean, whereas for rainfall the “near normal” category lies between 80 per cent and 120 per cent of the long-term mean.

7. The seasonal climate outlooks are an output of Predicting climate variability and change, a scientific research programme supported through Earth Sciences New Zealand’s Strategic Science Investment

Fund.

8. The forecast confidence meter for temperature and rainfall represents the expert judgement of Earth Sciences New Zealand climate scientists. It aims to synthesize various forecast elements, such as global and local climate drivers, in order to clearly communicate forecaster confidence in how all the evidence has aligned for the seasonal outlook.

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Source: Te Ara Ahunga Ora Retirement Commission

New research from Te Ara Ahunga Ora Retirement Commission reveals 55% of New Zealanders who have set up an emergency fund in the last three months can easily find money to cover an unexpected expense.

However, only 22% of New Zealanders who feel unlikely to set up an emergency fund can do the same.

The new research has been released as the Retirement Commission’s annual Sorted Money Month campaign kicks off on 1 August.

The theme for Money Month this year is emergency savings and coincides with the release of the new, free Sorted Buffer builder app, which helps New Zealanders automatically grow a cash cushion to cope with unexpected costs.

The new research from the Retirement Commission’s Financial Sentiment Tracker reveals the positive difference keeping emergency savings can make.

Retirement Commissioner David Boyle says having an emergency fund helps build financial resilience and creates a safety net to help absorb life’s unexpected expenses.

“Having an emergency fund reduces financial stress and helps you handle unexpected life events. Knowing you have money set aside specifically for unexpected expenses brings a sense of confidence and control.”

He says an emergency fund can help people avoid crisis borrowing and expensive debt when things go wrong, especially in the current challenging economic conditions.

“It also prevents people having to touch their KiwiSaver or withdraw from their long-term investments, so financial resilience ends up helping their future self to enjoy a better retirement outcome when they stop work.”

The new research found that in the year to June 2026, 62% of Kiwis have an emergency fund (compared to 58% the previous year).

“Whether it’s losing your job, needing a new car tyre or having to buy a new washing machine, an emergency fund provides peace of mind knowing you have money set aside to deal with life’s curveballs,” David says.

“Financial resilience is not about being wealthy, it’s about being prepared and it also reduces your financial stress which positively impacts your greater wellbeing.”

The new research also found that just having an emergency fund set up was associated with more positive financial sentiment.

It found that 59% of New Zealanders with a growing or sufficiently sized emergency fund feel very optimistic and confident about their future.

And 54% of New Zealanders who have set up an emergency fund within the last three months feel the same.

However, only 25% of New Zealanders who feel unlikely to set one up feel very optimistic or confident about their future.

This shows that people who have recently set up an emergency fund feel quite similarly to those who have an established emergency fund, so just setting one up is a great first step to make them feel more positive about their financial future.

The Sorted Buffer builder app was developed by Christians Against Poverty NZ (CAP) in partnership with the Retirement Commission, with some funding from Simplicity Foundation. The app connects to a user’s bank through Akahu, New Zealand’s open banking service.

CAP CEO Sam Garaway says an emergency fund helps people weather life’s storms and prevents them from tipping into financial hardship.

“We all know how challenging forming a habit can be. The Buffer builder app takes the friction out of saving by combining secure open banking technology with insights from CAP and Sorted to make savings automatic and easy.”

Sam says the number of people receiving CAP Debt Help is at a seven-year high.

“We’re hearing just how tough things are right now. With rising living costs and existing debt, it only takes a fall in income or a costly life event to send them into chaos,” Sam says.

Sorted Personal Finance Lead Tom Hartmann says even a modest emergency fund can provide breathing room.

“That’s why this Money Month we’re introducing Sorted’s Buffer builder app, so that people can more easily grow their emergency savings by paying themselves first, rounding up their spending, and topping up when they can. The app uses open banking data and AI to adapt to spending patterns and sets targets that make sense, wherever someone is at on their emergency savings journey.”

Simplicity Head of Education Jennie O’Donovan says Simplicity supported the creation of the Buffer builder app as it’s alarming to see how many New Zealanders struggle with an unexpected financial event.

“One of the big takeaways with the app is that your emergency fund doesn’t need to be built overnight. We know that having a clear goal and seeing progress makes saving feel much more achievable which ultimately buys you time and choices when the unexpected happens. We want that for all New Zealanders, which is why the Simplicity Foundation has supported this project.”

The financial sector and local grassroots communities are supporting Money Month with events and programmes across the country. These events can be found on the Sorted event calendar, allowing people to find out what is happening locally and get involved.

Notes to Editors

This research comes from the Retirement Commission’s Financial Sentiment Tracker, which surveyed approximately 4,000 New Zealanders aged 18+ across the year to June 2026.

About Te Ara Ahunga Ora Retirement Commission

Te Ara Ahunga Ora Retirement Commission aims to help New Zealanders to retire with confidence. Retiring with confidence means New Zealanders feel secure they’ll have resources to live and the know-how to make ends meet. We focus on three areas: Retirement Income Policies, Retirement Villages and Financial Capability. Te Ara Ahunga Ora runs Sorted, Sorted at Work, Sorted in Communities and Te whai hua – kia ora, Sorted in Schools and is responsible for the National Strategy for Financial Capability.

About Sorted

Sorted is a free service run by Te Ara Ahunga Ora Retirement Commission, the government-funded, independent agency dedicated to helping New Zealanders get ahead financially. As New Zealand’s trusted personal finance site, Sorted has the information needed to tackle debt, plan and budget, save and invest, optimise KiwiSaver, plan for retirement, protect wealth, and manage a mortgage. Providing tools, guides and blogs, Sorted serves 1.5 million Kiwi each year.

About Christians Against Poverty NZ (CAP)

CAP is a charity that offers free, confidential Debt Help and Financial Mentoring services for whānau in unmanageable debt. CAP Debt Help operates in 40+ locations across the motu, in partnership with local churches. Since launching in Aotearoa in 2007, over 4,700 households have been supported from money chaos to thriving. And 20,000+ New Zealanders have taken a free CAP Money course helping them to spend, budget and save well.

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BANGKOK, THAILAND – Media OutReach Newswire – 30 July 2026 – The Dialogue for Innovative and Sustainable Growth (DISG), a bilateral public-private economic cooperation platform between ASEAN and Japan chaired by Masuo Kuremura, convened the “18th DISG Task Force Meeting” on July 8, 2026, at the Carlton Hotel Bangkok Sukhumvit in Bangkok, Thailand.

Against the backdrop of a rapidly changing international economic landscape, participants reaffirmed the critical need to further advance cooperation between Japan and ASEAN. Highlighting this shared commitment, the meeting culminated in the official adoption of the “DISG Task Force Joint Declaration” (hereinafter referred to as the “Joint Declaration”), which outlines collaborative actions across five priority fields through public-private partnerships.

Opening Remarks and Keynote Presentation

At the commencement of the meeting, Chairman Masuo Kuremura delivered opening remarks, followed by a comprehensive presentation outlining the four strategic pillars of ASEAN-Japan cooperation:

1. Supply Chain Resilience
2. Co-creation of Innovation
3. AI and Digital Investment
4. Energy Transition

Amid growing uncertainty in the international arena regarding supply chain resilience, Chairman Masuo Kuremura addressed the possibility of supporting industrial self-reliance through consultations with major ASEAN nations. To promote the co-creation of innovation, he showcased the achievements of the “Fast Track Pitch” events—which attracted 410 applications and 776 participants across four neighboring nations—as well as the “Young Leaders Summit.”

In the field of AI and digital investment, he discussed the need for cooperation in data centers and semiconductors. For energy transition, he proposed the “AZEC+” (Asia Zero Emission Community Plus) initiative, which enhances the existing decarbonization framework by integrating a broader security perspective. In conclusion, he stressed the importance of translating these frameworks into more concrete projects and discussions.

Following the opening session, the first segment of keynote speeches featured Prof. Dr. Pavida Pananond, Professor of International Business at Thammasat Business School, who spoke on “Challenges and Expectations of ASEAN-Japan Cooperation.” She highlighted the structural shift in global supply chains from “efficiency-first” to “security and resilience-first” models. Noting that resilience holds different meanings depending on national perspectives and corporate strategies, she presented three crucial implications for businesses:

1. Understanding the specific strengths of each country and region.
2. Identifying critical areas along the value chain.
3. Creating resilience across regions, industries, and companies that transcends mere cost-efficiency.

Next, Mr. Yuta Okuyama, Chief of Staff of the President’s Office at the Economic Research Institute for ASEAN and East Asia (ERIA), delivered a presentation titled “From Shock to Strategy: Towards a New Generation of ASEAN-Japan Cooperation and Regional Economic Resilience.” He detailed ERIA’s efforts to strengthen regional platforms through supply chain analysis and Track 1.5 public-private dialogues. He also introduced an ongoing initiative to formulate a regional oil stockpiling strategy for ASEAN, affirming ERIA’s commitment to reinforcing economic resilience and security in the region through cooperative approaches.

Presentations: Updates from the Chambers of Commerce and Industry of the Philippines and Thailand

The second session opened with a presentation by Mr. Perry Ferrer, President of the Philippine Chamber of Commerce and Industry (PCCI). He outlined the structural challenges facing the Philippines, including infrastructure quality constraints, income disparities, and the economic toll of frequent typhoons. However, he also spotlighted the country’s emerging strategic assets, such as its robust semiconductor and electronics industries, its young demographic profile, the trilateral “Luzon Economic Corridor” initiative involving Japan, the US, and the Philippines, and its high-purity silica resources. Mr. Ferrer emphasized the complementary nature of the bilateral relationship, with Japan providing capital and technology while the Philippines contributes a dynamic workforce and critical minerals.

Subsequently, Mr. Voratat Tantimongkolsuk, Deputy Secretary General of the Board of Trade of Thailand (representing the Thai Chamber of Commerce – TCC), pointed out that global supply chains are at a turning point due to geopolitical risks and maritime logistics disruptions. Leveraging the strategic location of the Mekong region connecting East Asia and ASEAN, he proposed enhancing land-sea connectivity and trucking efficiency through the Greater Mekong Subregion (GMS) framework. He identified digital logistics and green logistics as top priorities for ASEAN-Japan cooperation, concluding that mutual trust among stakeholders is indispensable to realizing a resilient and sustainable supply chain.

Discussion and Exchange of Views

A lively panel discussion ensued, focusing on supply chain resilience and workforce development:

• Mr. Perry Ferrer (PCCI, Philippines) proposed the implementation of supply chain visualization tools and the necessity of establishing a mutual recognition framework for skilled labor.
• Mr. Hans Lukiman (KADIN, Indonesia) emphasized the importance of creating pathways that allow returning workers to contribute their acquired skills back to domestic industries.
• Mr. Nguyen Vu Kien (VCCI, Vietnam) advocated for the development of supply chain traceability systems.
• Mr. Musa Adnin (ASEAN-BAC, Brunei) brought up a practical case where no Japanese firms participated in recent domestic data center tenders, pointing out that “while Japan possesses superior technology, it lags behind Western and Chinese competitors in terms of business execution and deployment speed.”

In response to these recommendations, Ms. Yumiko Hata (Director, Asia and Pacific Division at the Ministry of Economy, Trade and Industry, METI, of Japan) expressed her gratitude for the proposals and stated, “We will promote measures toward energy security and supply chain resilience in close cooperation with the chambers of commerce of each country.”

To consolidate the rich insights from this dialogue, Chairman Masuo Kuremura presented the “DISG Task Force Joint Declaration” at the conclusion of the meeting, which was officially adopted.

Background of the Joint Declaration

While ASEAN continues to enjoy robust economic growth, geopolitical tensions, energy supply chain risks originating from the Strait of Hormuz, and structural shifts in industries driven by AI and digitalization are impacting the regional economy. Under these circumstances, Japan and ASEAN have compiled the Joint Declaration to co-create a sustainable and resilient economic foundation.

Key Points of the Joint Declaration

The Joint Declaration aims to strengthen public-private partnership and regional cooperation across the following five priority areas:

1. Building Resilient Supply Chains

Acknowledge that securing the stability and diversity of supply chains, including critical materials and technologies, is essential for regional economic growth. Japan and ASEAN will upgrade production, logistics, and procurement networks through deeper industrial cooperation, enhancing resilience and mitigating concentration risks.

2. Cooperation in Economic Security Fields

Strengthen mutually beneficial, complementary partnerships in a highly volatile international environment. Cooperation will focus on information sharing, human resource development, and investment promotion in strategically critical sectors, including semiconductors, automobiles, AI/digital infrastructure, and energy.

3. Cooperation in Energy Transition and Next-Generation Energy Fields

Pursue the dual goals of energy security and carbon neutrality by establishing supply infrastructure and technical collaboration in next-generation fields, such as biofuels, sustainable aviation fuel (SAF), and small modular reactors (SMRs). Regional energy resilience will be enhanced by leveraging the ASEAN Power Grid (APG), the Asia Zero Emission Community (AZEC), and the Partnership on Wide Energy and Resources Resilience Asia (POWERR Asia) frameworks.

4. Promoting Innovation and Industrial Upgrading

Position digital transformation (DX) and green transformation (GX) as keys to economic growth and industrial competitiveness, and promote inter-enterprise collaboration and open innovation in areas such as AI, data utilization, and next-generation mobility. The goal is to generate ASEAN-originated innovation through cooperation among large enterprises, SMEs, startups, and academia.

5. Next-Generation Human Resource Development and Contribution to Local Communities

Recognize that talent cultivation and active personnel exchanges are indispensable for sustainable development. Japan and ASEAN will promote exchanges among next-generation leaders, specialists, and young entrepreneurs, contributing to a diverse, inclusive, and resilient society.

https://ameicc.org/disg/
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Source: Save the Children

The number of children receiving treatment for the most dangerous form of malnutrition in Baidoa, south central Somalia, nearly tripled in six months, according to new figures from Save the Children’s stabilization centre in the region [1], warning over the country’s worsening drought and hunger crisis.

Health care workers at Save the Children’s Baidoa stabilization centres treated 400 children suffering from severe acute malnutrition with other medical complications in June – nearly three times as many as the 143 admitted in January.

In total, the stabilization centre treated 1,405 children between January and June 2026, a 177% increase compared with the 507 children treated a year ago.

Poor rainfall, reduced harvests, livestock losses, reduced foreign aid, high food prices, and weaker household purchasing power is driving this worsening hunger crisis in Baidoa, said Save the Children.

The deterioration in hunger and malnutrition also comes as Somalia marks 15 years since a famine was declared 20 July 2011, killing over 250,000 people, about half of them children under five.

Admissions to the centre’s outpatient programme, which treats moderate acute malnutrition cases also saw a sharp 268% increase in the first four months of the year. However, stock-outs of ready-to-use therapeutic food and other essential supplies due to aid cuts and the conflict in the middle east has meant that families are no longer able to receive treatment and many have stopped going to the centre, Save the Children said, leading to a sharp decline in admissions from April onwards [2].

While faced with a worsening drought and hunger crisis, aid organizations are also grappling with steep funding shortfalls, with more than 300 nutrition facilities reportedly closed across Somalia this year [3], reducing access to treatment for vulnerable children and families. This has caused a dangerous decline in number of people receiving humanitarian assistance, with only 12% of people in need being reached [4].

In May, data from the global hunger monitor, the Integrated Food Security Phase Classification (IPC), showed that about half of children under 5 in Somalia are facing acute malnutrition with Burhakaba district in the Bay region of southwest Somalia classified to be facing the risk of famine through June 2026 – the first time such a classification has been announced in Somalia since the devastating drought of 2022.

As well as hunger, disease outbreaks are multiplying the risks for children in Somalia, with the outbreaks of measles, cholera and acute watery diarrhoea worsening malnutrition among children. The Federal Government of Somalia declared a drought emergency in November 2025, its first such declaration since the country narrowly averted famine in 2022, but resources are still outpacing needs.

Aisha-, 27, whose two-year-old daughter Ayan- was treated for severe acute malnutrition at the centre after the family was displaced by drought, said:

“We used to depon farming and livestock keeping. However, the drought affected our livelihoods and forced us to leave our home and move to Baidoa.

“My two-year-old daughter, Ayan-, became seriously ill. Her illness began with a fever and later developed into diarrhoea and sores in her mouth.

“When we first arrived, she was not eating anything. However, after receiving treatment, she began eating well. She even started asking for the food I was eating.”

Mustaf, a doctor at the Save the Children-supported stabilisation centre in Baidoa, said:

“This year, the number of children we are treating has doubled or even tripled compared with previous years, mainly because of the severe drought. Pastoralists have lost their livestock and farmers have suffered repeated crop failures.

“We depheavily on humanitarian assistance from organisations such as Save the Children. Should that assistance decrease, we will be unable to continue providing essential services. Medicines and equipment will run short, and many children whose lives could have been saved may not receive the treatment they need.”

Mohamud Mohamed Hassan, Save the Children’s Country Director in Somalia, said:

“Fifteen years ago, the world watched Somalia’s children die in a famine that early warnings failed to stop. Today those warnings are flashing again in the same regions, and the children reaching our centre in Baidoa are more severely ill than we have seen in years.

“The difference between a warning and a tragedy is whether the response arrives in time. In 2011 it did not. We cannot let Bay Region’s children pay that price twice.”

“We know how to prevent this. What is missing is not knowledge but funding and speed. If assistance reaches Bay Region now, these children will recover and go home. If it comes late, we will be counting a cost we promised in 2011 never to repeat. The world now has to match that urgency.”

Save the Children is calling for an urgent and sustained scale-up of food security, nutrition, health and water and sanitation assistance in Bay region and other hotspots, and for the funding needed to reach children before Burhakaba crosses the line into famine.

Save the Children has worked in Somalia since 1951, delivering health, nutrition, education, child protection and emergency assistance for children and their families. The New Zealand Government currently supports Save the Children to deliver unconditional cash assistance and child protection prevention and response services to households in Somalia facing severe food insecurity through its Disaster Response Partnership.

NOTES:

[1] Baidoa admissions figures are drawn from Save the Children’s own programme data, January to June 2026, compared with the same period in 2025.

[2] Cases to the outpatient programme: 1167 cases in April, 317 in May and 520 in June, caused by critical delays and stock-outs of ready-to-use therapeutic food and other essential supplies used in treatment.

[3] Save the Children, “When Aid Disappears, Childhood Disappears Too”, 28 April 2026.

[4] IPC Somalia Acute Food Insecurity and Acute Malnutrition Projection Update, April to June 2026, issued 14 May 2026: about half of children under five acutely malnourished; Burhakaba at risk of famine; humanitarian assistance reaching only 12 percent of people in IPC Phase 3 or above.

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Source: deVere Group

July 29 2026

The oil spike is a warning shot for portfolios, not just markets, affirms the CEO of one of the world’s largest independent financial advisory organisations.

Nigel Green of deVere Group’s comments come as Brent crude jumped 3.42% to $86.97 a barrel and US West Texas Intermediate rose 3.58% to $82.09, after Iran fired ballistic missiles at American forces in the Middle East and US and Saudi jets struck Iran-backed sites in Iraq in response.

“Markets had started to relax. A pause in the fighting had investors pricing in de-escalation, and today that assumption got torn up in a single session,” says Nigel Green.

“This is exactly why treating any Middle East ceasefire as durable was always a mistake dressed up as optimism.”

Both benchmarks moved sharply within hours of the strikes, reversing weeks of calmer trading that had followed an earlier lull in hostilities.

“A near 3.5% jump in both benchmarks inside hours is no rounding error, rather the market repricing risk that never actually went away. Investors who sold their hedges during the lull are now buying them back at a worse price.”

The renewed strikes centre on waterways that carry a significant share of the world’s energy supply, which is why the deVere CEO says the market reaction has outpaced the physical disruption so far.

The concern goes well beyond energy markets themselves because oil shocks have a well-worn path into interest rate decisions.

“Energy shocks move straight into the inflation numbers, and from there straight into central bank decisions,” says Nigel Green.

“During the last flare-up in this same conflict, market pricing for a September rate hike jumped enormously in the space of a week. This is the kind of swing that reprices every asset class, not just oil.”

He also points to a pattern that has caught many investors off guard during this conflict, one that runs against the conventional strategy for a geopolitical shock.

“Most retail investors fall into the same trap here. They assume gold automatically protects them when a war like this escalates,” says Nigel Green.

“It hasn’t worked that way this year. Gold has actually fallen during periods of this conflict, because rising oil pushed inflation expectations higher, which pushed rate expectations higher, which made a non-yielding asset like gold less attractive to hold.

“The obvious hedge has repeatedly failed to behave like one.”

Independent economic modelling underscores the scale of what is at stake if prices hold at current levels.

“A sustained Brent price near $80 a barrel could shave more than half a percentage point off global growth while adding over a full percentage point to global inflation on an annualized basis,” says Nigel Green.

“Today’s prices are already above that line, and the fighting just restarted.”

Despite the warning, Nigel Green is careful to state this as a case for preparation rather than panic.

“None of this means investors should panic.

“It means they should stop assuming any single asset will save them and start building a portfolio that can absorb a shock like this without relying on one instrument to do all the work.”

He says the real risk lies less in the conflict itself, rather than in how quickly markets forget it.

“Complacency should worry investors here far more than conflict itself. Wars in this region have flared and paused for months now, and each pause has tempted markets back into assuming the risk has passed,” says Nigel Green.

“It hasn’t passed. It’s simply been waiting for the next spark, and today supplied one.”

The deVere CEO concludes: “Investors should treat this spike as confirmation, not surprise.

“The risk premium in energy was always going to return the moment this conflict resumed, and portfolios built on the assumption of lasting peace in this region need to be stress-tested against the reality that peace here has proven fragile every single time.”

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

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Source: Amnesty International

Shell must answer for decades of pollution in the Niger Delta after internal company documents revealed broken rules, failing infrastructure and unresolved clean-up costs that risk leaving affected communities to pay the price,a coalition of human rights and environmental organisations, including Amnesty International, said today in a new report.

The report, Nigeria: Lifting the Lid, analyses internal Shell emails, audits, presentations and confidential reviews disclosed in UK legal proceedings, revealing a wider human rights scandal than previously reported. While Shell presented its operations as meeting global standards, the documents point to concerns raised by the Nigerian army over alleged complicity in oil theft, suspected staff and contractor collusion, exemptions from safety standards, chronic neglect of known pipeline integrity risks, missing well data, weak leak detection and flawed spill assessments.

Shell knew the risks from ageing and leaking infrastructure, including an old pipeline internally described as “a basket” [case], yet kept oil flowing. It later decided to divest its onshore business rather than face the enormous cost of clean-up and decommissioning, including an internal US$10.9 billion decommissioning estimate. A separate internal presentation stated that 375km² of mangrove forest had been harmed by pollution.

Amnesty International wrote to Shell on 3 July 2026 to share its findings related to the disclosed documents. In response to Amnesty’s report, Shell wrote that: “The characterisation and portrayal of Shell in your letter is not one we recognise. Shell is committed to honesty, integrity and respect for people, and to conducting business in an ethical and transparent manner.” Shell says that the findings do not reflect the “challenging operating environment in the Niger Delta at the time”. Their full response is included in the report.

“Shell has long blamed oil theft and sabotage for pollution in the Niger Delta. But these documents cut through years of denial and raise grave questions about what Shell knew, what it allowed to continue, and whether it then sought to walk away from the costs of its toxic legacy,” said Isa Sanusi, Director of Amnesty International Nigeria.

“The scandal was not simply illegal ‘bunkering’ or oil theft. The real scandal is Shell’s pursuit of profit at the expense of people’s rights. Shell was willing to accept further environmental damage in Nigeria that would not have been tolerated elsewhere, and years of public denial are now challenged by its own documents.”

The report is published by Amnesty International together with The Corner House, Hawkmoth, HEDA Resource Centre, Kebetkache Women Development & Resource Centre, Miideekor Environmental Development Initiative (MEDI), Recommon and Social Action. For affected communities, the findings confirm what many have said for decades: oil pollution has damaged water, farmland, fisheries, health and livelihoods, while companies continued to profit and deny responsibility.

“Shell cannot be allowed to take the oil, take the profits and leave the pollution behind. Communities in the Niger Delta deserve truth, justice, clean-up and full remedy,” said Olanrewaju Suraju, Chairman of the HEDA Resource Centre, a Nigerian governance and environmental justice NGO.

Concerns over role in oil theft, broken rules and failing infrastructure

The documents show that even while Shell blamed criminal gangs for oil theft, senior staff allowed illegal taps to remain on pipelines because removing them would “take considerable system downtime”, meaning the temporary suspension of profitable crude oil flows. One senior Shell manager wrote in 2013 that this had led the Nigerian security force responsible for pipeline security to accuse Shell of being “complicit” in oil theft “because we are not removing the bunkering points.” A Shell presentation that year, referring to the effects of the illegal tapping, asked: “are we comfortable to continue producing, KNOWING that further environmental damage WILL occur?”

The report also reveals that Shell exempted its Nigerian subsidiary, Shell Petroleum Development Company (SPDC) from key elements of its global health and safety standards so oil could continue flowing through tampered pipelines, even when not deemed safe under Shell’s own safety rules. This was an approach one senior Shell executive appeared to acknowledge would not be tolerated elsewhere. Internal documents additionally show Shell executives suspected staff and contractors may have been involved in oil theft, with one email warning: “we have to work on the assumption that the bunkerers get good access to SPDC planning data.”

Internal audits further exposed serious weaknesses in Shell’s pipeline management, including a major maintenance backlog, weak oversight systems, and poor records on pipeline clamps that Shell had allowed to become permanent repairs on leaking pipelines. More than 1,600 clamps were registered, including older clamps whose locations were unknown.

A 2012 technical review also found that SPDC flowlines were supposed to be replaced every 15 years, but this was “not being followed” and only “breakdown maintenance” was being applied.

‘Missing’ oil wells, weak monitoring and flawed spill assessments

An internal report in 2014 to Shell’s then CEO said there were “hundreds” of SPDC onshore wells that were either missing from its electronic well-tracking system or whose condition could not be verified. Shell later launched a “well hunt campaign”, which identified 750 overdue maintenance tasks that contributed to an “unsatisfactory” audit rating. A 2013 report also found that SPDC’s pipelines had no real-time monitoring system, despite the fact that quickly detecting spills and limiting contamination is key to reducing pollution. Without such monitoring, anything short of a major rupture could go unnoticed.

“A fossil fuel giant that could not verify the location and integrity of hundreds of wells and pipeline clamps, and lacked effective leak detection, cannot credibly claim it had pollution under control. Shell must stop deflecting blame,” said Dr Emem Okon from Kebetkache Women Development & Resource Centre, a Nigeria-based group promoting women’s rights and environmental justice.

Shell’s claim that oil theft caused most pollution is also weakened by its own documents, which show staff were not properly equipped to tell whether spills were caused by corrosion or third-party interference. This matters because, although companies must clean up spills regardless of cause, under Nigerian laws affected communities are only entitled to compensation where spills are classified as operational rather than sabotage or theft.

“For communities seeking justice, Shell’s flawed spill assessments could mean the difference between compensation and abandonment,” said Celestine Akpobari from MEDI, an NGO rooted in the Ogoni struggle, advocating for environmental restoration and justice.

‘Basket’ pipeline left full of crude

The report also finds that Shell failed to properly decommission the old Nembe Creek Trunk Line after replacing it in 2010. A 2014 internal email said around 80km of the old pipeline was still filled with stagnant crude, with six operational spills since 2010, and could not be decommissioned because of budget constraints. The email described the pipeline as “a basket” and warned that more spills would follow without urgent action. The response appeared to confirm that the failure to decommission was primarily financial, despite recognition that action was needed to reduce environmental impact and liability.

“Shell knew old infrastructure was leaking and needed decommissioning, yet the documents suggest action was delayed because of cost. Communities should never have been forced to live with pollution because a company did not want to pay to clean up its own mess,” said Simon Taylor, co-founder of Hawkmoth, a Netherlands-based NGO advancing a just, accountable transition away from fossil fuels, with experience of challenging oil and gas abuses, including in Nigeria.

Divestment and unanswered US$10.9bn decommissioning costs

An internal report sent to Shell’s then CEO in 2014 estimated that decommissioning all existing SPDC assets could take decades and cost US$10.9 billion, equivalent to US$14 billion today, apparently excluding clean-up costs. Another internal presentation on past oil spills identified 375km² of affected mangrove forest and asked whether Shell had the “appetite” to take on the “open-ended problem”. Shell later sold SPDC to Renaissance Africa Energy in 2025, despite concerns over the new company’s capacity, limited public financial information and the need for up to US$1.2 billion in secured loans from Shell to support the acquisition itself.

“Shell’s divestment cannot become a corporate escape route. After decades of profiting from Niger Delta oil, Shell must not transfer the risks of ageing infrastructure and legacy pollution to communities or to a buyer whose capacity remains in serious doubt. It must pay its fair share whether or not it has the ‘appetite’ for accountability,” said Isaac Osuoka, Director at Social Action which advocates for environmental justice, community rights and accountability in the Niger Delta.

Clean-up, remedy and reform

Amnesty International and partner organizations are calling on Nigerian authorities to overhaul its oil industry oversight, require accessible audits of all operational and decommissioned infrastructure, and establish a properly resourced Niger Delta clean-up superfund.

“Shell is one of the world’s largest investor-owned fossil fuel companies. Its documents are now in the open. The question is whether governments will act on them,” said Isa Sanusi. “In addition to living with unacceptable oil pollution, Nigerians are experiencing extreme heat, deadly flooding and other extreme weather events linked to the global heating caused by the use of Shell’s primary product: fossil fuels. Nigeria must overhaul oversight of the oil industry, while UK and Dutch authorities must investigate whether Shell misled shareholders, regulators and affected communities about the true state of its operations and liabilities. Shell must stop hiding behind divestment, disclose the truth, fund clean-up and remedy, and ensure that affected communities finally receive justice.”

Background

In 2015, the Ogale and Bille communities filed UK legal action against Shell Plc and SPDC over serious oil pollution. The Bille case is due to be heard in March 2027.

Nigeria: Lifting the Lid analyses Shell documents from 2008 to 2014, including 27 redacted documents released in April 2026 after NGOs, Hawkmoth, Heda Resource Centre and Oil Change International – UK, applied for publication in the public interest, plus further details from a May 2026 court filing.

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Source: Oxfam Aotearoa

• Top six fossil fuel corporations expect Q2 profits to nearly double Q1 levels. Annual profits for 2026 are set to exceed the previous 21 months combined.
• Emissions from five fossil fuel corporations were enough to cause about 1 in 4 heatwaves between 2000 and 2023, which would have been virtually impossible without climate change.
• A tax on the richest oil and gas corporations could raise up to $400 billion in its first year, enough to cover annual climate adaptation costs in low- and middle-income countries.

The world’s six biggest fossil fuel corporations are expected to nearly double their combined net income in the second quarter of 2026, jumping from $23 billion in the previous quarter to $45 billion, reveals new Oxfam analysis ahead of their earnings announcements. New data also finds that the emissions of these corporations have significantly magnified the frequency and severity of heatwaves this century.

The projected full-year profits of BP, Chevron, Eni, ExxonMobil, Shell and TotalEnergies amount to $147 billion, more than their combined profits over the previous 21 months (Q2 2024 to Q4 2025). Among the biggest winners, Chevron is expected to report that it has quadrupled its profits to $1,200 a second in the last three months, while ExxonMobil’s profits are expected to have tripled to $1,800 a second.

Oil and gas corporations share an outsized responsibility for the climate crisis. New Oxfam analysis of academic data published in Nature finds that the emissions from BP, Chevron, ExxonMobil, Shell and TotalEnergies were sufficient to cause around 1 in 4 heatwaves reported globally between 2000 and 2023 – heatwaves that would have been virtually impossible without human-made climate change. Using S&P Capital Trucost data, Oxfam estimates that Big Oil was responsible for $60 billion in environmental damage last year.

The findings come as record-breaking heatwaves scorch South Asia, Europe and North America, killing tens of thousands of people. Meanwhile, West African countries are struggling with devastating monsoons and floods that have upended thousands of lives and destroyed vital infrastructure across the region.

Yet rather than scaling back fossil fuel production and accelerating the transition to renewable energy, the six largest fossil fuel corporations plan to increase oil and gas production by 14 percent by 2030 compared to 2024 levels, equivalent to pumping an additional 2.5 million barrels of oil a day.

“Fossil fuel corporations are making a killing, literally and figuratively. As extreme heat, floods and storms devastate communities across the world, the industry is preparing another bonanza of profits. Families are paying the price three times over: through destroyed homes and harvests, through soaring energy prices, and through a cost-of-living crisis worsened by dependence on fossil fuels. Big Oil’s greed is incompatible with a livable planet and unless governments rein it in, they will make a mockery of international climate targets,” said Oxfam’s Climate Policy Lead Mariana Paoli.

Oxfam estimates that a tax on the profits of the largest fossil fuel corporations could raise up to $400 billion globally in its first year, enough to cover annual climate adaptation costs in the Global South. An additional excess profits tax on all corporations could generate up to $681 billion globally.

“While Big Oil fuels extreme weather events, rich countries are refusing to increase the public climate finance that poorer countries urgently need to cope with the climate crisis,” said Paoli. “Until governments make the richest polluters pay, fossil fuel corporations will keep driving us deeper into climate chaos. Taxing the richest polluters could help close the gap in funding for climate adaptation and speed the transition towards renewable energy. Fossil fuel corporations must feel the heat, not us.”

Political momentum for taxing the richest polluters is growing. Italy, Germany, Spain, Portugal and Austria have called for a new windfall tax on energy profits. In Australia, where Oxfam research found that one in three coal, oil and gas corporations are paying no corporate income tax, many members of Parliament are speaking out in support of a 25 percent export tax on gas, with strong public support.

Research in 60 countries found that 28 percent of them have implemented a temporary windfall tax on excess profits from fossil fuel companies in recent years, with a further 13 percent supportive. Just 12 percent are explicitly against the measure.

Oxfam Aotearoa’s Advocacy and Policy Lead, Nick Henry, said, “Fossil fuel companies have a global responsibility for climate change. The New Zealand Government should be holding these rich polluters to account and making them pay the cost of their climate damage.”

Oxfam’s research is based on S&P Capital IQ’s consensus estimates compiled from financial analysts’ forecasts. The six largest fossil fuel corporations are due to publish their second-quarter earnings over the coming week. The projected surge in profits reflects the sharp rise in oil prices following the unlawful US and Israel war against Iran.

Methodology note

Comprehensive investigation

Peer-reviewed analysis

Heatwave deaths and West African flooding

Oxfam estimate

UNEP Adaptation Gap Report 2025

Oxfam’s rich polluter profit tax model

EU finance ministers’ letter

Oxfam Australia’s Freeloaders report

Government-support country mapping

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Source: Save the Children

Two thirds of children across Western Europe [1] were exposed to extreme heatwaves between 1 January and 14 July this year, according to new data from Save the Children as temperatures soar and record wildfires ravage parts of Europe. [2]

The child rights organisation said that the number of children impacted by extreme heatwaves during that six-and-a-half-month period was already three times the figure from the whole of 2025 – and more than any entire year since 2003.

Save the Children analysed satellite imagery of surface temperatures covering every part of the world. The aid agency defined an extreme heatwave as three consecutive days experiencing a temperature in the top 1% of all those recorded in that location in the previous 30 years.

The data is particularly stark given the majority of the time period in the analysis covers winter and spring in Western Europe, when temperatures are lower. This suggests that findings for the entire 12 months of 2026 will be even more severe, Save the Children said.

In Germany, the number of children exposed to extreme heat in the first six months of this year was larger than the past five years combined. [3]

In the UK, 10 million children – three quarters of the child population – have been exposed to extreme heat in the first six months of this year. This is more than the total for any single year in the past 30 years. [4]

Children already affected by inequality or discrimination – such as those living in poverty, refugees or children with disabilities or underlying health conditions – are at a unique disadvantage, Save the Children said.

Zainab, 16, a child campaigner with Save the Children UK, said:

“For many people, particularly those living with chronic illnesses, this heat is not simply uncomfortable, it is dangerous. For some, a heatwave means an ice cream, a day in the park or turning on a fan. For others, it’s dehydration, exhaustion, dizziness and pain. Medication can become harder to manage. Existing illnesses becoming more severe.

“I know that because I live it. I have lived with Type 1 diabetes for most of my life. When temperatures rise, managing my health becomes harder. My body does not get to experience extreme heat as a minor inconvenience. The climate crisis does not stay outside my window. It enters through my body. Climate change does not affect everyone equally, but when the temperature rises, inequality rises with it.”

Human-induced climate change is making extreme weather events like heatwaves, drought and wildfires more frequent and severe. Save the Children’s findings reveal that across the globe, extreme heatwaves now reach substantially more children than a generation ago. In the 1990s and 2000s, around one in 10 children worldwide [5] were exposed to an extreme heatwave each year. In the 2020s so far, that average has increased to one in seven children [6]. Two of the four worst years since 1990- the start of the period examined – were in the past three years.

A report by Save the Children and the Vrije Universiteit Brussel last year found that almost a third of the world’s children born in 2020 – about 38 million – would be spared a lifetime’s “unprecedented” exposure to extreme heat [7] if we can meet the 1.5 degrees C warming target by 2100.

The health risks of dangerous heat to young children are acute, due to their ongoing physical development and lower capacity for body temperature regulation. During heatwaves, children are at a high risk of electrolyte imbalance, fever, respiratory disease, and kidney disease. [8]

This kind of unprecedented heat is also disrupting children’s education. In June, schools in France and the UK were forced to close or alter timetables to protect children from dangerous heat as temperatures surged.

Matilde Angeltveit, Senior Advisor and Global Climate Advocacy Lead at Save the Children, said:

“Over the past few months, we have seen the climate crisis unleash unbearable heat on children and families across Europe. Heat like this damages children’s health, disrupts their sleep and schooling, and brings basic services to a standstill. We also fear that crops will fail and food prices surge due to the heat at a time when families are already struggling to cope.

“Children are disproportionately vulnerable to extreme heat, yet they have done the least to contribute to the climate crisis. We know by now that we urgently need to adapt to this situation – but children need us to put their lives, rights and needs front and centre.

“While we need this today, ultimately, in order to safeguard children’s futures, we need to see a rapid phase out of the use and subsidy of fossil fuels and transition to renewable energy in an equitable and fair way. We know that this is in our power, and if we do it in the shrinking time window available to us, children’s exposure to these dangers will be curbed dramatically.”

Save the Children is calling for the recognition of children’s unique vulnerabilities to climate change, the delivery of high-quality, affordable funding to lower-income countries, including financing to cut emissions, and the urgent phase out of the use and subsidy of fossil fuels.

As the world’s leading independent child rights organisation, Save the Children works in over 100 countries, tackling climate change across everything we do and putting children at the heart of climate action.

Notes:

More information available here on 28 July.

[1] Countries included in Western Europe in data set: Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, UK

[2] Methodology available here – full data available on request

[3] Full data available on request

[4] Methodology available here – full data available on request

[4] an average of 200 to 230 million children

[5] 360 million children

[6] For the research in the Born into the Climate Crisis 2 report by Vrije Universiteit Brussel and Save the Children, scientists have defined a heatwave as: when the daily Heat Wave Magnitude Index of that year exceeds the 99th percentile of pre-industrial Heat Wave Magnitude Index distribution for the specific climate model grid cell. The Heat Wave Magnitude Index measures how intense a heatwave is during a year. It looks at the hottest stretch of at least three days in a row when temperatures are much higher than what was normal before industrial times. The higher the number, the more extreme the heatwave.

[7] Born into the Climate Crisis, Save the Children and Vrije Universiteit Brussel

About Save the Children NZ:

Save the Children works in 120 countries across the world. The organisation responds to emergencies and works with children and their communities to ensure they survive, learn and are protected.

Save the Children NZ currently supports international programmes in Fiji, Cambodia, Bangladesh, Laos, Nepal, Vanuatu, Solomon Islands and Papua New Guinea. Areas of work include child protection, education and literacy, disaster risk reduction and climate adaptation, and alleviating child poverty.

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Source: Federated Farmers

ACT’s plan to transfer responsibility for managing game animals on conservation land to the Game Animal Council needs a major rethink, Federated Farmers says.

Richard Dawkins, Federated Farmers pest management spokesperson, says allowing the Game Animal Council to set game population targets is extremely concerning.

“ACT has fired a shot with this policy, but they’ve completely missed the mark,” he says.

“Hunters generally see deer as a valuable resource. They want healthy herd numbers, plenty of hunting opportunities and, in some places, quality trophy animals.

“On the other hand, many farmers view those same deer as pests that cause huge problems when they damage pasture, crops, fences, forestry and native vegetation.”

That conflict is evident in ACT’s description of Himalayan tahr as a ‘treasured herd’, Dawkins says.

“They may be treasured by hunters, but they’re also an introduced pest that can cause significant damage to vulnerable high-country vegetation.

“Under ACT’s plan, the people who value the animals would be setting the limits, while neighbouring farmers could carry the consequences and the costs.

“That is an obvious conflict of interest.”

Dawkins says there is plenty in the announcement worth discussing.

“Hunters make a valuable contribution to conservation and back country maintenance, and we support better access and more secure funding for community groups.

“But giving hunters control of population targets crosses a line.

“ACT has made a significant mistake by assuming the interests of hunters and neighbouring farmers are automatically aligned – they are not.

“Farmers should not be expected to carry the cost of maintaining game animal populations for someone else’s recreational benefit.”

Federated Farmers says the practicalities are also far more complex than ACT’s announcement suggests.

Game animal management sits alongside the Wild Animal Control Act, the Conservation Act, Treaty obligations, public access, visitor safety and communications with people using conservation land.

It must also work alongside OSPRI, regional pest management plans, 1080 operations and control programmes for goats, pigs and other species.

“These animals are often managed across the same landscape,” Dawkins says.

“Having one organisation managing deer while another manages goats, biodiversity and disease control risks duplication, conflicting objectives and more bureaucracy.”

Dawkins says the Wapiti Foundation demonstrates that carefully designed partnerships between hunters and government can work in specific circumstances.

“That success reflects a unique arrangement with clearly defined objectives and does not justify transferring responsibility for setting deer population targets nationwide.

“Good local partnerships should be expanded where they work, not used as the basis for a wholesale transfer of responsibility.”

Dawkins says the answer is clear targets, better coordination and targeted investment.

“Federated Farmers agrees the current system is not delivering the level of feral browser control New Zealand needs, but simply transferring responsibility from DOC to the Game Animal Council is not the answer.

“What we need is a properly funded national feral browser strategy that brings hunters, farmers, DOC, OSPRI, councils, iwi, foresters and conservation groups around the same table, with clear targets, responsibilities and accountability.

“Similar to the coordinated approaches used for wilding conifers and wallabies, hunters should have a strong seat at the table and an important role in delivery, but they should not set population targets alone.”

Population targets should be informed by independent ecological monitoring, animal health risks and the effects on neighbouring landowners.

Dawkins says more International Visitor Levy funding could significantly increase pest control, monitoring and community partnerships.

“Hunters are an important part of the solution, but they cannot be the sole judge of how many pest animals should remain on the landscape.

“Good policy must balance hunting values with the rights of neighbouring landowners and the protection of New Zealand’s environment.”

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27 July, 2026:

“We are deeply alarmed by reports coming out of Nablus in the last days including that of Israeli forces storming Nablus Specialised Hospital, alongside clashes elsewhere in the governorate that have killed four Palestinians and two Israeli soldiers.

These violent incidents in Nablus are not isolated. They sit within a wider pattern of Israeli raids, state-sponsored settler violence, the disruption of essential services, and mounting pressure on civilians and healthcare.

When armed forces enter a hospital, the impact is immediate: fear, interruption of care, delayed treatment, and added risk for already vulnerable patients.

The protection of healthcare facilities must be respected. They must remain accessible to people in need. It is unacceptable for hospitals, ambulances, staff, and patients to be targeted by violence anywhere in Palestine.”

Filipe Ribeiro, Head of Mission, MSF Palestine

For more context on MSF’s work in the West Bank read: “The impossible reality of life in the West Bank”

MSF is an international, medical, humanitarian organisation that delivers medical care to people in need, regardless of their origin, religion, or political affiliation. MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. Every year more than 120 Australians and New Zealanders go on assignment with Médecins Sans Frontières working as: doctors, midwives, psychologists, laboratory technicians, human resource/finance coordinators, pharmacists, mental health specialists and logisticians. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au

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24 July 2026 – One month following the devastating earthquakes, Venezuela continues to grapple with the aftermath, facing profound grief as thousands mourn the loss of family, friends, and everything they owned.

This sudden natural disaster that affected particularly the coastal state of La Guaira, near Caracas, has transitioned into a complex, protracted crisis characterised by massive population displacement, severe infrastructural damage, and deep psychological trauma. In La Guaira and Caracas, the urgent needs include access to clean water, adequate shelter, mental health care, and protection.

The official death toll has reached 5,398, with 16,740 individuals injured, 17,907 displaced, and 6,462 rescued from the rubble. The structural devastation is staggering; 190 buildings have officially collapsed, while over 895 structures, including schools, vital public infrastructure, and hospitals, have suffered severe damage and are at risk of collapse.

Thousands are currently residing in makeshift displacement sites or sleeping in tents adjacent to their damaged homes. In Maiquetía (La Guaira), approximately 3,000 individuals are camping on the pavement directly in front of 20 severely damaged and unstable buildings. Similarly, in Avenida Bolívar (Caracas), another 3,000 individuals are living on the streets, stripped of proper shelter and basic services.

In response to the crisis, Médecins Sans Frontières/Doctors Without Borders (MSF) currently operates four mobile clinics providing primary healthcare, mental health support, health promotion, and water and sanitation activities across the most affected areas: three in La Guaira (Maiquetía, Catia La Mar, and Tamaguarena) and one in Caracas (Avenida Bolívar). These clinics offer primary healthcare, clean water, and emergency mental health interventions to families who have lost everything. In the past month, MSF medical teams have conducted 2,217 medical consultations.

The injuries sustained extend beyond physical; families still searching for loved ones beneath the rubble, along with the shock of sudden homelessness and displacement, have given rise to a psychological crisis. To address these mental health challenges, MSF has integrated mental health support into its mobile response, providing: 113 individual mental health, 323 group therapy sessions, 1,402 psycho-education sessions. With local infrastructure severely compromised, MSF teams are implementing water, sanitation, and hygiene (WASH) intervention:

Installed a 5,000-liter water bladder in Playa Verde to serve as a reliable clean water source.
Initiated the ongoing chlorination of four primary water distribution sites alongside continuous water purification monitoring.
Distributed 5,000 bottles of emergency drinking water to families living on the streets.

Over the past month, MSF has donated approximately 8.5 tons of emergency medical supplies. This extensive logistical effort has supported immediate, life-saving operations and addressed the healthcare needs of an estimated 10,000 patients. MSF teams continue to provide disinfectants and infection prevention and control materials not only to active hospitals but also to overwhelmed local morgues, ensuring safety, hygiene, and dignity amid unprecedented loss.

MSF is an international, medical, humanitarian organisation that delivers medical care to people in need, regardless of their origin, religion, or political affiliation. MSF Australia was established in 1995 and is one of 24 international MSF sections committed to delivering medical humanitarian assistance to people in crisis. Every year more than 120 Australians and New Zealanders go on assignment with Médecins Sans Frontières  working as: doctors, midwives, psychologists, laboratory technicians, human resource/finance coordinators, pharmacists, mental health specialists and logisticians. MSF delivers medical care based on need alone and operates independently of government, religion or economic influence and irrespective of race, religion or gender. For more information visit msf.org.au  

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HONG KONG SAR – Media OutReach Newswire – 23 July 2026 – As Hong Kong’s summer weather becomes increasingly unpredictable, with periods of extreme heat, high humidity, and occasional rain showers and thunderstorms, Hong Kong Disneyland Resort (HKDL) continues to enhance its facilities and operations to better support guests and cast members throughout the season.

From cooling facilities and shaded rest areas to flexible operational arrangements, the initiatives are designed to provide more choices and added ease for both guests and cast members during the summer months.

Additionally, HKDL has introduced an exclusive “Summer Chill” 4PM Ticket Offer for Hong Kong residents. Guests can enjoy the park from 4:00pm onwards, helping them avoid the hottest hours or periods of heavy rain, with prices starting at just HK$480.

Guests are also encouraged to stay hydrated and explore the resort’s wide selection of indoor attractions and entertainment offerings during the hottest hours of the day.

Weather-Conscious Design for a Better Guest Experience

The guest experience is supported by the resort’s planning and operations through a combination of environmental design and infrastructure enhancements. Disney Imagineers use detailed studies of sunlight, temperature, humidity and wind, supported by advanced computer simulations, to assess conditions across different areas of the park and guide design decisions.

For instance, Wayfinders’ Table in Adventureland was designed with sun exposure and ventilation needs in mind. Through the use of hard roof materials and thoughtful airflow planning, the design helps reduce heat buildup while providing shelter from rain.

Canopies, trees and fans are also used for the outdoor stage show “Moana: A Homecoming Celebration” to provide shade and added relief. The park also preserves and plants trees more extensively to provide additional natural shade.

Enhancing Infrastructure to Adapt to Changing Weather Conditions

HKDL has strengthened its guest-focused infrastructure to help improve airflow and provide added cooling support in various summer weather conditions. Energy-efficient ceiling fans operate at entrances and ticketing areas, while upgraded axial fans enhance airflow in queuing zones.

The park now features approximately 860 fans, with mobile units deployed flexibly to provide cooling support where they are needed most, particularly in high-traffic areas. Portable air-conditioning units have also been added in select outdoor zones to further support ventilation.

Mist cooling systems are also available at multiple outdoor locations, while additional shade structures have been added to queuing and dining areas.

Over 40 free water dispensers are provided across the resort, with nearly half already upgraded to dispense water 50% faster, helping guests rehydrate more conveniently throughout their visit.

Supporting Cast Members Through Changing Weather Conditions

With cast member safety as a top priority, HKDL continuously reviews operational measures to support frontline teams working outdoors in varying weather conditions. Cast members are dressed in outdoor costumes made with breathable, moisture-wicking fabrics, while additional rest breaks, hydration support and access to cooling facilities are provided during periods of extreme heat and humidity.

The resort closely monitors weather conditions and proactively adjusts outdoor show schedules whenever Heat Stress at Work Warnings are issued.

Disney Ambassadors also distribute electrolyte drink powder and chilled water bottles to frontline cast members working in outdoor areas.

Cooling Fun with Pixar Summer Fest

HKDL integrates cooling moments into storytelling. Guests can conveniently transition between a wide variety of indoor attractions, dining venues and entertainment offerings located throughout the resort, helping the magic continue in changing weather conditions.

The newly launched “Pixar Summer Fest” invites guests to beat the heat with immersive entertainment. The “Pixar Water Play Street Party!” welcomes guests to join beloved Pixar characters in a lively water parade, offering refreshing fun as part of the festive atmosphere.

Guests can also chill out with refreshing Pixar-themed treats, including Lime Dole Whip with Pineapple Slush Float at Jessie’s Snack Roundup, Monsters, Inc.-inspired Mike Wazowski Ice Cream Bar, Toy Story Alien Ice Cream Bar, and Sulley-inspired Mint Chocolate Flavored Soft Serve. These playful creations offer visual delight and refreshing summer treats for guests.

Exclusively for Hong Kong residents, the “Summer Chill” 4PM Ticket offers later entry to the park for just HK$480, allowing guests to enjoy an afternoon-to-evening “Pixar Summer Fest” experience.

Hashtag: #HongKongDisneyland

The issuer is solely responsible for the content of this announcement.

– Published and distributed with permission of Media-Outreach.com.

Hosted by the Rapid Relief Team NZ (RRT), the event will provide flood-affected farmers with free fencing packs containing posts, battens and wire to assist with repair and recovery efforts following the severe weather experienced across the region, valued at $1,500 each.

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PERTH, Australia, July 21, 2026 (GLOBE NEWSWIRE) —

Quarterly Report
For the period ending 30 June 2026

Key Metrics Summary

Highlights

• Langer Heinrich Mine (LHM) ramp-up successfully completed, delivering strong operational performance, achieving or exceeding FY2026 guidance on production, sales and cost of production
• Production of 1.23Mlb U₃O₈ in the quarter and 4.82Mlb U₃O₈ for FY2026
• Sales volumes of 1.35Mlb U₃O₈ at an average realised price of US$70.6/lb U₃O₈ for the quarter with FY2026 sales totalling 4.35Mlb U₃O₈
• Patterson Lake South (PLS) Project advanced towards development following the Canadian Nuclear Safety Commission (CNSC) determination that the Construction Licence application was sufficient to proceed through the regulatory review process
• Subsequent to the quarter end, Paladin signed an Administrative Protocol with the CNSC targeting completion of hearings for the Construction Licence application at the end of calendar year 2027
• Execution of a binding term sheet with the Birch Narrows Dene Nation in relation to the Mutual Benefits Agreement for the PLS Project
• A new high-grade body of uranium mineralisation, the Atlas discovery, was identified 3.5km south of the PLS Project’s Triple R deposit and 4.5km southwest of Saloon East during the winter drilling program⁷
• Cash and investments of US$265M and an undrawn US$70M Revolving Credit Facility at quarter end
• Total Recordable Injury Frequency of 3.2 per million hours worked on a 12-month basis

“We were very pleased to successfully complete the ramp-up of the Langer Heinrich Mine in line with our commitment to deliver this goal by the end of FY2026, while also meeting the upper-end of our revised production guidance.

“Importantly for Paladin’s long-term future growth, we received formal acknowledgement from the Canadian Nuclear Safety Commission of achievement of sufficiency status, another significant milestone in developing the PLS Project. This achievement, together with an agreed administrative protocol, activates a regulatory timeframe and processes for obtaining our licence to commence construction.

“While continuing to progress the approvals, engineering and Indigenous agreement pathways for the PLS Project, we know that shareholders will be delighted to see the continuing prospectivity of our landholdings in the Athabasca Region. Our new discovery at Atlas, located on the Saloon Trend that runs broadly parallel to our Triple R deposit, has demonstrated that there are significant opportunities for Paladin to increase the development potential at the PLS Project.”

Paul Hemburrow
Managing Director and Chief Executive Officer

Langer Heinrich Mine (Namibia)

Operations

The ramp-up to full mining and processing plant operations was successfully completed in the quarter, marking a significant milestone in the progression of LHM. The full mining fleet is now operational with mining activities established and positioned to support FY2027 production objectives.

Total mined material was 7.45Mt for the quarter, a 21% uplift from the previous quarter and the highest quarterly mining rate achieved since the restart, reflecting the full mining fleet in operation. The increase in material mined was in line with the planned mining sequence which focused on waste stripping and stockpiling of lower grade ore to access higher grade ore for processing.

Crusher throughput was 1.19Mt at an average ore feed grade of 488ppm. LHM produced 1.23Mlb U₃O₈ at an average recovery rate of 90% for the quarter, driven by consistent processing plant performance. For the full year, LHM produced 4.82Mlb U₃O₈ at the upper-end of the guidance range.

The cost of production for the quarter was US$51.6/lb, reflecting the transition to full mining activities, depletion of the previously mined MG3 stockpile and lower grade during the quarter as mining activities commenced in the J pit. Cost of production for the financial year was US$43.3/lb, at the lower end of the guidance range.

There were no supply disruptions for the quarter stemming from the conflict in the Middle East. The team continues to monitor stock levels of operating inputs and inbound shipments regularly.

Sales and Marketing

During the quarter, LHM sold 1.35Mlb U₃O₈ at an average realised price of US$70.6/lb. FY2026 sales totalled 4.35Mlb U₃O₈ exceeding the upper-end of the FY2026 guidance.

As at 30 June 2026, Paladin had 400,000lb U₃O₈ outstanding under its uranium product loan facilities, having repaid 50,000lb U₃O₈ during the quarter. These facilities provide flexibility on sales logistics, enabling the timely fulfilment of customer delivery commitments.¹⁰

Quarterly sales and average realised prices are dependent on the mix of contract pricing mechanisms, payment terms and the timing of deliveries, which vary based on customer nominations from quarter to quarter as well as shipping schedules.

Resource Definition

A total of 20,608m of resource drilling was completed during the quarter, utilising six drill rigs within ML140.

Patterson Lake South Project (Canada)

Development and Permitting

During the quarter, Paladin received a formal notification from the CNSC determining that the Licence to Prepare Site for and to Construct (Construction Licence) application for the PLS Project has achieved ‘sufficiency’ status.

Sufficiency represents an important step in the CNSC licencing process as it formally establishes that Paladin’s submission meets the required level of completeness and technical detail, enabling the application to advance into the regulatory assessment phase under the Uranium Mines and Mills Regulations. It triggers a comprehensive review process and represents a critical de-risking step in the permitting pathway.

Subsequent to the quarter end, Paladin signed an Administrative Protocol with the CNSC jointly recognising the importance of the project schedule and scope of activities required for Paladin Canada to obtain a Construction Licence for the PLS Project.

The Administrative Protocol represents a significant step forward in the PLS Project permitting process. It establishes a targeted but non-binding regulatory pathway aimed at completing hearings for the Construction Licence application at the end of 2027 calendar year 2027.

In April 2026, Paladin Canada entered into a binding term sheet with the Birch Narrows Dene Nation. The term sheet sets out the key terms and conditions upon which the parties will negotiate the full form Mutual Benefits Agreement in respect of the PLS Project. 

The Company continues to actively engage with local communities and Indigenous Peoples to build respectful relationships that foster sustainable benefits.

The Paladin Canada team continued to de-risk the PLS Project through ongoing update of the Front-End Engineering Design study during the quarter.

Exploration⁷

The Company successfully completed its 2026 winter drilling program at the PLS Project during the quarter with the discovery of a new high-grade body of uranium mineralisation intersected 3.5km south of the Triple R deposit and 4.5km southwest of Saloon East, the Atlas discovery. This prospective area is within the Saloon Trend which runs broadly parallel to the structural trend that hosts the Triple R deposit. Eight exploration drillholes were collared, with seven intersecting significant uranium mineralisation at the new Atlas discovery, totalling 2,408m with the discovery remaining open along strike and at depth.

Key winter 2026 intercepts at Atlas include:

• PLS26-708B (discovery drillhole): 17.5m of total composite uranium mineralisation across three intervals, the largest being 8.0m averaging 1.75% U₃O₈, including 3.0m averaging 4.25% U₃O₈ from 190.0m to 193.0m
• PLS26-718: 21.5m of total composite uranium mineralisation across two intervals, the largest being 14.5m averaging 1.70% U₃O₈, including 5.5m averaging 2.86% U₃O₈ from 194.5m to 200.0m
• PLS26-722: 30.0m of total composite uranium mineralisation across seven intervals, the largest being 11.0m averaging 1.79% U₃O₈, including 5.0m averaging 2.94% U₃O₈ from 194.5m to 199.5m¹⁷

The 2026 winter drilling program also targeted resource conversion and extension drilling at the Triple R deposit and further drilling on the Saloon Trend, along with regional exploration. All currently identified trend targets (including Atlas) are land-based, allowing drilling activities to continue uninterrupted throughout the summer months. A total of 13,060m drilling was completed in the quarter.

Michelin Project (Canada)

There were no substantive mining exploration activities completed during the quarter. Desktop geological studies, prospectivity reviews, and target generation work continued, with the 2026 summer drill program being finalised during the reporting period.

Other Activities

Cash and Debt

As at 30 June 2026, the Company held unrestricted cash and investments of US$265M. The Company had an outstanding balance on the Term Loan Facility of US$32M and an undrawn US$70M Revolving Credit Facility at the end of the quarter.

Class Action Update

There are no material updates in relation to the shareholder class action proceedings being defended by Paladin in the Supreme Court of Victoria. The class action was brought on behalf of persons who acquired an interest in Paladin shares during the period between 27 June 2024 and 25 March 2025.

Australian Exploration

There were no substantive mining exploration activities during the quarter.

Quarterly Investor Conference Call

The Company will hold a conference call on Wednesday, 22 July 2026, at 11.00am AEST¹⁸ (Tuesday, 21 July 2026, at 9.00pm EDT¹⁹). To participate in the live teleconference, please register at the link below:

Paladin June 2026 Quarterly Results Conference Call

Please note it is recommended to log on at least five minutes before the scheduled commencement time to ensure you are registered in time for the start of the call.

A recording of the call will be available on Paladin’s website shortly after its conclusion.

June 2026 Quarter Presentation

Paladin has released an accompanying presentation on the June 2026 quarter results, which is available on the Company’s website at Stock Exchange Announcements.

This announcement has been authorised for release by the Board of Directors of Paladin Energy Ltd.

Contacts

Notes
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¹ Paladin has a 75% interest in the LHM
² September quarter sales include 85,000lb U₃O₈ loan material delivered under existing contracts. March quarter sales include a further 130,000lb U₃O₈ sourced through a purchase & sale back arrangement and 155,000lb U₃O₈ through a product swap. These arrangements were entered to meet customer deliveries during the March quarter due to a shipping delay and were closed out in the June quarter
³ Average Realised Price is a Non-IFRS Measure. See “Non-IFRS Measures” for more information
⁴ Cost of Production is a Non-IFRS Measure. See “Non-IFRS Measures” for more information
⁵ Exploration expenditure for resource definition drilling previously reported for the six-month period ended on 31 December 2025 (refer to exchange announcement “Quarterly Report – December 2025” dated 21 January 2026) has subsequently been reclassified to Capital Expenditure
⁶ Capital Expenditure does not include capitalised stripping costs or costs associated with building low grade stockpiles
⁷ Refer to Paladin’s exchange announcement titled “New high-grade uranium discovery identified at PLS Project” dated 25 June 2026. Paladin confirms that it is not aware of any new information or data that materially affects the information included in that announcement.
⁸ Total Ore Mined includes high-grade, medium-grade and low-grade ore
⁹ Low-grade ore stockpile material to be processed during the later stockpile phase
¹⁰ The current uranium product loan arrangements allow Paladin to borrow up to 450,000lb U₃O₈, with repayment in kind upon delivery. As at 30 June 2026, the Company had outstanding loans of 400,000lb U₃O₈, with 200,000lb U₃O₈ scheduled for repayment in Q1 FY2027, and the remaining 200,000lb U₃O₈ due in Q3 FY2027. Under the loan facilities, certain standby and loan fees are payable. These loan facilities are expected to either be renewed, replaced or repaid within the next twelve months.
¹¹ Includes finished product on site, in-transit and at converter
¹² Includes 397,993lb U₃O₈ related to a sale to be recognised in the September 2026 quarter for which advance payment was received in the June 2026 quarter
¹³ Includes 425,012lb U₃O₈ related to a sale recognised in the December 2025 quarter for which advance payment was received in the September 2025 quarter
¹⁴ Reversals of Previous Stockpile Impairment is an accounting transaction included in the IFRS financial statements in the cost of sales line and is calculated as average cost per pound, based on the 31 December 2023 impairment reversal on existing stockpiles of US$92M, offset by an impairment in March 2025 of US$20M. The cost per pound varies based on grade, recovery and contained uranium realised for the period
¹⁵ Low-grade ore stockpiled represents the cost of mining and stockpiling low grade material to be processed during the later stockpile phase and is capitalised into inventory under IFRS. This is expected to be classified as non-current inventory until that phase. These costs are not included in the Cost of Production
¹⁶ During mining, stripping costs may be incurred removing overburden or waste to provide access to future mining areas. As this improves access to future ore, costs are capitalised and amortised on a units-of production basis
¹⁷ Intercept interval for the 5.0m averaging 2.94% U₃O₈ has been amended to 194.5m to 199.5m reflecting the correct interval as per “Table 1: 2026 Atlas Drillhole Summary” provided in the Paladin’s exchange announcement titled “New high-grade uranium discovery identified at PLS Project” dated 25 June 2026
¹⁸ AEST: Australian Eastern Standard Time (Sydney time)
¹⁹ EDT: Eastern Daylight Time (Toronto time)

Forward-looking statements

This document contains certain “forward-looking statements” within the meaning of Australian securities laws and “forward-looking information” within the meaning of Canadian securities laws (collectively referred to in this document as forward-looking statements). All statements in this document, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as “anticipate”, “expect”, “likely”, “propose”, “will”, “intend”, “should”, “could”, “may”, “believe”, “forecast”, “estimate”, “target”, “outlook”, “guidance” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding continued development of the PLS Project; permitting approvals and community engagement; advancement of the PLS Project through to FID; development and ramp-up of operations at the LHM; LHM guidance for FY2026; and the receipt of all necessary regulatory approvals.

Forward-looking statements involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies including those risk factors associated with the mining industry, many of which are outside the control of, change without notice, and may be unknown to Paladin. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licences, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for amongst other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rates, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, rising energy costs, inflationary pressures, the demand for and availability of transportation services, the ability to secure adequate financing and management’s ability to anticipate and manage the foregoing factors and risks. Readers are also referred to the risks and uncertainties referred to in the Company’s investor presentation released on 16 September 2025 and the Company’s “2025 Annual Report” and in Paladin’s Management’s Discussion and Analysis for the year ended June 30, 2025, each released on 28 August 2025, and in Paladin’s Annual Information Form for the year ended June 30, 2025 released on 12 September 2025, each of which is available to view at paladinenergy.com and on www.sedarplus.ca.

Although as at the date of this document, Paladin believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from the expectations expressed in such forward-looking statements due to a range of factors including (without limitation) fluctuations in commodity prices and exchange rates, exploitation and exploration successes, environmental, permitting and development issues, geopolitical events and political risks (including armed conflict or escalation of hostilities in the Middle East), and the impact of such events on global security conditions, economic activity, trade flows, energy markets, sanctions regimes, and uranium supply and demand, Indigenous Peoples engagement, climate risk, operating hazards, natural disasters, severe storms and other adverse weather conditions, shortages of skilled labour and construction materials, equipment and supplies, energy costs, inflation, regulatory concerns, continued availability of capital and financing and general economic, market or business conditions and risk factors associated with the uranium industry generally. There can be no assurance that forward-looking statements will prove to be accurate.

Readers should not place undue reliance on forward-looking statements, and should rely on their own independent enquiries, investigations and advice regarding information contained in this document. Any reliance by a reader on the information contained in this document is wholly at the reader’s own risk. Recipients are cautioned against placing undue reliance on such projections without conducting their own due diligence with appropriate professional support. The forward-looking statements in this document relate only to events or information as of the date on which the statements are made. Paladin does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. No representation, warranty, guarantee or assurance (express or implied) is made, or will be made, that any forward-looking statements will be achieved or will prove to be correct. Except for statutory liability which cannot be excluded, Paladin, its officers, employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this document and exclude all liability whatsoever (including negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this document or any error or omission therefrom. Except as required by law or regulation, Paladin accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this document or any other information made available to a person, nor any obligation to furnish the person with any further information. Nothing in this document will, under any circumstances, create an implication that there has been no change in the affairs of Paladin since the date of this document. To the extent any forward-looking statement in this document constitutes “future-oriented financial information” or “financial outlooks” within the meaning of Canadian securities laws, such information is provided to demonstrate Paladin’s internal projections and to help readers understand Paladin’s expected financial results. Readers are cautioned that this information may not be appropriate for any other purpose and readers should not place undue reliance on such information. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions, and subject to the risks and uncertainties, described above.

Non-IFRS Measures

Paladin uses certain financial measures that are considered “non-IFRS financial information” within the meaning of Australian securities laws and/or “non-GAAP financial measures” within the meaning of Canadian securities laws (collectively referred to in this announcement as Non-IFRS Measures) to supplement analysis of its financial results and operating performance. These Non-IFRS Measures do not have a standardised meaning prescribed by International Financial Reporting Standards (IFRS) and therefore may not be comparable to similar measures presented by other issuers.

The Company believes these measures provide additional insight into its financial results and operational performance and are useful to investors, securities analysts, and other interested parties in understanding and evaluating the Company’s historical and future operating performance. However, they should not be viewed in isolation or as a substitute for information prepared in accordance with IFRS. Accordingly, readers are cautioned not to place undue reliance on any Non-IFRS Measures.

The Non-IFRS Measures used in this announcement are described below.

Average Realised Price

Average Realised Price (US$/lb U₃O₈) is a Non-IFRS Measure that represents the average revenue received per pound of uranium sold during a given period. It is calculated by dividing total revenue from U₃O₈ sales (before royalties and after any applicable discounts) by the total volume of U₃O₈ pounds sold. This measure provides insight into the actual pricing achieved under the Company’s uranium sales contracts and spot sales during the reporting period, taking into account the mix of base-escalated, fixed-price and market-related pricing mechanisms within contracts. The Company uses Average Realised Price to assess revenue performance relative to market prices, contractual pricing structures, and production costs. It is also a key measure used by investors and analysts to evaluate price exposure, contract performance, and profitability potential.

It is important to note that Average Realised Price is distinct from both the spot market price and the term market price for uranium, and it may vary significantly from period to period based on timing of deliveries, customer contract structures, and the prevailing market environment.

Revenue from the sale of U₃O₈ is reported in the Company’s financial statements under IFRS. The Average Realised Price is derived directly from statutory revenue figures and disclosed sales volumes.

Cost of Production

The Cost of Production is calculated as the total direct production expenditures incurred to produce U₃O₈ during the period (including mining, stockpile rehandling, processing, site maintenance, and mine-level administrative costs), excluding costs such as cost of ore stockpiled, deferred stripping costs, depreciation and amortisation, general and administration costs, royalties, exploration expenses, sustaining capital and the impacts of any inventory impairments or impairment reversals. This measure helps users assess Paladin’s operating efficiency.

Cost of Production per pound = Cost of Production ÷ U₃O₈ pounds produced

The Cost of Production per pound is a unit cost measure that indicates the average production cost per pound of U₃O₈ produced. The Cost of Production per pound is a Non-IFRS Measure that is widely used in the mining industry as a benchmark of operational efficiency and cost competitiveness. Paladin’s Cost of Production per pound metric is calculated as the total direct production expenditures as defined above (in US dollars) incurred during the period, divided by the total volume of U₃O₈ pounds produced in the same period. Management uses Cost of Production per pound to track progress of operational performance, to assess profitability at various uranium price points, and to identify trends in operating costs. It is also a key metric for investors and analysts to evaluate how efficiently the Company is producing uranium, independent of depreciation and accounting adjustments.

This measure allows stakeholders to monitor trends in direct production costs and to assess the Company’s operating breakeven threshold relative to uranium market prices. Investors are cautioned that our Cost of Production per pound metric may not be comparable with similarly titled “C1 cash cost” metrics of other uranium producers, as there can be differences in methodology (e.g. treatment of royalties or certain site costs). Paladin’s Cost of Production figure as defined above, focuses strictly on the on-site cost to produce U₃O₈ in the period. All figures are in US$/lb U₃O₈. We provide this information in good faith to enhance understanding of our operations; however, the IFRS financial statements (particularly the Cost of Sales line in the Consolidated Income Statement) should be considered alongside this metric for a complete picture of our cost structure.

– Published by The MIL Network