F24 Resilience News Digest – February Edition

This image shows a stack of newspaper.

Welcome to the monthly F24 Resilience News Digest. In each edition, we bring you the most relevant news and event updates from around the globe. Follow us to keep up with the latest in the industry.

ENISA Releases Study on Best Practices for Cyber Crisis Management in EU: NIS2 Directive Implementation and ENISA’s Role

Despite Russia’s focus on Ukraine, Western nations are wary of further threats to their security. NATO prepares for potential Russian strikes across Europe, including Germany. Lieutenant General Alexander Sollfrank urges streamlined procedures for troop movement. NATO leaders seek to implement a military Schengen system before the July summit. The Ukraine-NATO Council meets in a military format, signaling potential Ukrainian accession to NATO.

Houthi Attacks Disrupt Global Trade: Impact on Shipping, Inflation, and EU Response

The Houthi rebel group in Yemen has been attacking merchant ships in the Red Sea for over two months, disrupting a vital global trade route. The attacks, aimed at vessels bound for Israel, are also impacting shipping in the Suez Canal, leading major companies to reroute ships, causing delays and increasing costs. This disruption has resulted in a significant increase in shipping prices, potentially leading to inflation. Dr. Yousef M. Alshammari highlights potential losses for EU trade and predicts a rise in inflation due to increased oil prices resulting from geopolitical tensions. The EU plans to deploy warships to safeguard commercial ships in the Red Sea. The crisis, exacerbated by conflicts in the region, poses significant economic and security concerns.

EU Maintains Voluntary Gas Consumption Target Amidst Improved Energy Situation

European Union countries established a voluntary target in 2022 to reduce gas consumption by 15% during winter months, responding to a crisis sparked by Russia’s cut in gas deliveries. The European Commission recently recommended maintaining this reduction, although it removed the option to make it mandatory during supply crises. While some countries see this policy as unnecessary due to reduced gas demand since Russia’s invasion of Ukraine, most are likely to accept the recommendation at an upcoming meeting. The Commission notes improvements in Europe’s energy supply, with countries replacing Russian gas with renewables and gas from other sources. Despite lower gas prices and ample storage capacity, continued energy savings are deemed necessary due to tight global gas markets and the EU’s goal to reduce reliance on Russian fossil fuels. Various factors, including reduced industrial activity and increased renewable energy generation, have contributed to the decline in gas consumption.

John Kerry’s Climate Legacy: US Role, Transition to Renewables, and Global Cooperation

John Kerry, the outgoing US climate chief, emphasizes the US’s role in addressing the climate crisis despite its significant fossil fuel production. He acknowledges the need for strict safeguards to transition to renewables, highlighting the importance of reducing greenhouse gas emissions. While the US is a major oil and gas producer, Kerry stresses the necessity of gas production to facilitate the global shift to a low-carbon economy. He also expresses concerns about the infrastructure being built and calls for commitments to phase it out. Kerry underscores the importance of capturing emissions but remains sceptical about its scalability. He reflects on his tenure, including forging relationships with China on climate issues, and stresses the urgency of adhering to the 1.5°C temperature limit. Kerry’s departure marks a transition in US climate leadership, with continued focus on global climate action amid political challenges.

Europe Grapples with Escalating Affordable Housing Crisis

Rents and house prices in Europe surged between 2010 and 2022, exacerbating the affordable housing crisis. European cities emphasized this issue, warning of its detrimental impact on economic activity and social welfare. A Eurobarometer survey highlighted citizens’ concerns about declining living standards and financial difficulties. The cost of living crisis was a major electoral issue in the Netherlands. Eurofound underscored the severity of the housing problem, linking it to homelessness and financial strain. Suggestions were made to establish a European fund for affordable housing, although doubts were raised about the suitability of the European Investment Bank for this purpose. Advocacy for the EU’s Social Climate Fund to subsidize future-proof housing was emphasized, alongside calls for collaboration between public and private sectors at EU and national levels.

We Are Here for You.

Do you have any questions on F24?
Then simply fill out the form below, and we will get back to you shortly.

We Are Here for You.

Do you have any questions on F24?
Then simply fill out the form below, and we will get back to you shortly.

We keep You up to date.

Would you like to receive the latest press releases directly from us?
Register now to join the F24 press distribution list.