Day: October 14, 2026

Research commissioned by the Forests & Finance coalition found that banks extended approximately $595 billion in loans to companies operating in industries associated with forest destruction and ecosystem damage between 2020 and 2025, Reuters reports.

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The coalition’s annual Banking on Biodiversity Collapse report revealed that $351 billion was directed toward high-risk agricultural commodity companies, while another $244 billion went to mining businesses.
According to the report, these sectors are among the principal drivers of deforestation, land degradation and conflicts affecting local communities across tropical forest regions in South America, Southeast Asia, and Central and West Africa.
Environmental organizations warned that many banks providing substantial financing to high-risk industries have failed to implement adequate safeguards to prevent serious environmental and social harm.
The research also identified a significant increase in financing for mining companies operating in countries with extensive tropical forests.
Annual lending and underwriting for these businesses increased by 55 percent between 2016 and 2025, rising from $23.7 billion to $36.7 billion.
The largest increases were recorded in financing associated with lithium and nickel production.
Meanwhile, annual financing for agricultural commodity industries linked to forest-related risks rose by 71 percent over the same period, climbing from $37.9 billion in 2016 to $64.7 billion in 2025.
Financing for the beef industry increased by more than 50 percent, while funding for soybean production surged by 137 percent and financing for the pulp and paper sector jumped by 157 percent.
Indonesia was identified as a particularly significant destination for financing associated with tropical forest risks.
According to the coalition, banks have provided approximately $67.1 billion to the country’s pulp and palm oil industries since 2020.
The report linked this financing to deforestation and peatland drainage, which have increased the vulnerability of regions such as Kalimantan and Sumatra to wildfires and flooding.
Indonesia is currently experiencing its most severe El Niño-related wildfire season in 11 years, with smoke spreading across parts of Southeast Asia.
The resulting haze has contributed to deteriorating air quality and an increase in respiratory illnesses in neighboring Singapore and Malaysia.
The findings come ahead of a new round of international biodiversity negotiations scheduled to begin in Yerevan, Armenia, on October 19.
The talks are expected to include an assessment of global progress toward conservation targets established for 2030.
Recent research indicates that countries remain significantly behind schedule in meeting those commitments, highlighting continuing challenges in efforts to protect ecosystems and halt biodiversity loss.
The Forests & Finance coalition’s findings underscore concerns over the continued flow of financial resources into industries associated with tropical forest destruction, despite international efforts to strengthen environmental protection and sustainable financing practices.

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The ministry said authorities responded to the incident late Tuesday and implemented the necessary measures, Reuters reported.
No casualties or injuries were reported, it added.
Earlier, a company source told Reuters that a ballistic missile had struck the Aramco headquarters complex in Dhahran, hitting an office tower and damaging its top three floors. The source and two other people familiar with the matter said the building had caught fire.
The complex houses a major Aramco operations centre responsible for overseeing an extensive network of onshore and offshore oil rigs, pipelines, refineries and export terminals.
For the past week, the Houthis have launched ballistic missiles and drones at key Saudi sites in retaliation for Riyadh’s support for government forces in Yemen’s renewed civil war. Riyadh’s international airport has been hit four times, including in a Saturday strike that killed 13 people.
The ballistic missile attack on Riyadh airport was Saudi Arabia’s deadliest in a decade, with subsequent strikes grounding flights across the country.

The post LIVE Updates: Houthi attacks on Saudi Arabia, retaliation, latest developments appeared first on azeritimes.com.

The Prime Minister of Armenia proposed exchanging territories with Azerbaijan to finally settle the long-running conflict  Українські Національні Новини (УНН)

Figures released Wednesday by the National Association for Law Placement (NALP) show that more than 94 percent of white law graduates secured employment within 10 months of graduation, compared with fewer than 91 percent of graduates of color, Reuters reports.
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Black law graduates recorded the lowest employment rate among the major racial groups, at 87 percent, declining from nearly 90 percent in 2024.
The employment rate for Hispanic law graduates also fell, reaching slightly above 91 percent compared with more than 92 percent the previous year.
Meanwhile, employment among Asian law graduates remained relatively stable at approximately 92 percent.
Native Hawaiian and Pacific Islander graduates, who represented a comparatively small group, recorded the highest employment rate at more than 96 percent.
NALP Executive Director Nikia Gray expressed concern over the findings, emphasizing that obtaining a law degree does not guarantee equal access to professional opportunities across racial groups.
The report comes amid significant changes in diversity, equity and inclusion (DEI) policies across the United States following President Donald Trump’s return to the White House.
The Trump administration has pursued measures to eliminate DEI initiatives in higher education, government institutions and private businesses, affecting recruitment and diversity policies within the legal profession.
In March 2025, the US Equal Employment Opportunity Commission requested detailed hiring information from 20 major law firms, including applicant identities and whether race or gender had influenced recruitment decisions.
The Federal Trade Commission also warned 42 major law firms earlier this year that certain hiring practices could potentially violate federal antitrust laws.
Diversity Lab, an organization that had promoted diversity initiatives within the legal industry, ceased operations in June following regulatory scrutiny.
A Reuters investigation found that numerous prominent US law firms had removed or modified public references to DEI commitments following the administration’s policy changes.
Nearly 50 law firms that had previously submitted demographic information about their lawyers to NALP declined to provide such data this year. NALP attributed the decline to the administration’s campaign against DEI initiatives in the legal sector.
Separately, the US Department of Education is preparing to revoke the American Bar Association’s status as the federally recognized accrediting body for US law schools, partly over concerns that the organization did not remove diversity-related accreditation standards quickly enough.
The latest NALP figures also revealed disparities in access to positions requiring admission to the bar, widely regarded as a key benchmark for legal employment.
White graduates secured these positions at higher rates than graduates from every other racial group except those identifying as Middle Eastern or North African.
The report further found that first-generation college graduates experienced lower employment rates than law graduates whose parents had attended college or law school.
The findings highlight persistent differences in early career outcomes across racial and educational backgrounds within the US legal profession.

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