The International Air Transport Association (IATA) will publish an annual Track Zero report using IATA’s Net Zero Tracking Methodology to report industry-level progress towards aviation’s commitment to Net Zero carbon emissions by 2050.
The Net Zero Tracking Methodology and related reporting process were developed with industry experts. IATA will aggregate and report annually inputs from IATA member airlines on an industry basis. After thorough validation, aggregate industry data from the previous calendar year will be reported annually in the fourth quarter of each year. The first report with airline-contributed data is planned for publication in Q4 2024. Non-IATA member airlines are also encouraged to contribute data and participate in the reporting.
“Transparency is a critical element of aviation’s decarbonization. We will report our progress annually to ensure standardized, accurate and comprehensive reporting of aviation’s journey to net zero. Industry-level data in the Track Zero report will help airlines, governments, and investors with tools to improve decision-making to accelerate progress,” said Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist.
Individual airlines may use the aggregate data of the Track Zero report to benchmark their own progress towards decarbonization. They may also choose to report their progress on decarbonization to key stakeholders including governments, investors and customers, using IATA’s Net Zero Tracking Methodology.
“Decarbonization is an industry challenge, not a competitive issue. Nonetheless, the report and the methodology behind it can enable benchmarking that could intensify decarbonization efforts by spreading the success of best practices and sparking innovation,” said Owens Thomsen.
Key features of the Net Zero Tracking Methodology include Standardization, Accuracy and Comprehensiveness.
The decision to publish a Track Zero report follows the release by IATA of five roadmaps detailing critical actions for aviation to achieve net zero CO2 by 2050. They address aircraft technology, energy infrastructure, operations, finance, and policy. Together, they show a clear direction and will evolve with the insights of the Track Zero report, practical experience and emerging technologies to help aviation set interim milestones on the way to net zero.
IATA releases industry net zero tracking methodology to guide industry emission reporting
Hijra Bank prepares to sell shares to boost capital
Hijra Bank, one of the full-fledged Islamic banks, announces that it is planning to inject and sell new shares with the aim of increasing its capital to 6 billion birr.
On a press conference held on July 7, 2023, the bank which started its operations in August 2021 to provide interest-free services stated that it profit margins grew by 162% for the completed 2022/23 financial year, in contrast to the year prior.
As indicated in the press release, Hijra Bank has been able to increase the number of customers by 122 percent while its total asset increased by 207 percent to seven billion birr in the stated period.
“The fact that Hijra Bank has been able to achieve these multifaceted successes at a time when the banking industry in general is in high competition while the country is experiencing great pressure in the economic sector makes its success doubly successful,” said Dawit Keno, president of the bank.
The bank signaled that it has planned to increase its share holder base, through the bank president who said, “We have prepared a special sale of shares so that our Hijra Bank families who did not have the opportunity to become shareholders during the founding period can become shareholders of our bank, which is making great strides.”
The bank currently has more than12, 000 shareholders,
Hijra Bank a pioneer in technology in the field of interest-free banking services is currently implementing more than 18 modules of the Al Core banking system, which is certified annually by the Accounting and Auditing Organization for Islamic Financial Institutions-AAOIFI, which is used by more than 165 interest-free banks in the world.
AGRA curves out strategy to bolster agri-food systems
African-based agriculture organization, AGRA, unveils its five year strategy to bolster agri-food systems in Ethiopia.
The strategy which aims to strengthen the resilience of smallholder farmers by strengthening seed systems and adopting promotion of sustainable farming practices, is said to be in line with the country’s ten-year economic development plan (2021-2030).
At the launch event held on July 6th, 2023 at the Skylight hotel, Tilahun Amede, head of the AGRA Ethiopia office, expressed that the mission of the organization is to increase the annual agriculture productivity by 30 percent, “The 2023-2027 strategy focuses on improving seeds, creating agricultural efficiency, irrigation, market linkage strengthening of the Small and Medium Enterprises (SMEs) and enhancing the country’s capability to design policies, strategies and flagships for execution and monitoring.”
“By enhancing climate-smart technologies and practices for sustainable farming, the strategy aims to decrease climate change impact on the agriculture sector by 30-40 percent. The strategy is designed to impact up to 2 million farmers in Ethiopia,” Tilahun further highlighted.
Speaking during the launching ceremony, AGRA’s Board Chair and former PM, Hailemariam Dessalegn said, “Agriculture has always been a top priority for Ethiopia as the country seeks to leverage on developing huge underutilized arable land. Modernizing production systems, developing irrigation infrastructure, improving uptake of technology, boosting agricultural export revenues and import substitution, are a top priority for the country. We are committed to work with the government and the private sector to drive innovation and investment in the sector, ensuring that the benefits of agricultural transformation reach all Ethiopians.”
Fikru Regassa, State Minister of the Ministry of Agriculture, said, “We appreciate the invaluable contribution that AGRA has made in our country. I am optimistic that together we can enhance food security in Ethiopia and address our country’s strategic decision to stop relying on imported seed.”
As indicated, the strategy is aligned to the country’s long-term economic development blueprint, 2021-2030, that envisages building a climate-resilient green economy.
“By working together we will boost agricultural productivity in Ethiopia which currently contributes 32.7 percent of the country’s GDP and employs 65 percent of its 110 million people,” the State Minister further cited.
AGRA has invested over $15.5 million, with a focus on enhanced private sector involvement in seed production and distribution. The program has built local capacity to train and mentor seed companies and strengthen local markets by increasing grain quality and reducing aflatoxin levels.
Founded in 2006, AGRA, formerly known as the Alliance for Green Revolution is an African-led African-based organization that seeks to catalyze agriculture transformation in Africa. AGRA is focused on putting smallholder farmers at the center of the continent’s growing economy by transforming agriculture from a solitary struggle to survive into farming as a business that thrives. As the sector that employs the majority of Africa’s people, nearly all of them small-scale farmers, AGRA has recognized that developing smallholder agriculture into a productive, efficient, and sustainable system is essential to ensuring food security, lifting millions out of poverty, and driving equitable growth across the continent.
TECNO delivers CAMON 20 Series in Ethiopia
TECNO, an innovative technology brand with operations in over 70 global markets, has launched its highly anticipated CAMON 20 Series in Ethiopia, marking a significant milestone for the company.
“The CAMON 20 Series is an exquisite masterpiece designed to elevate the photography experience for TECNO Mobile users, catering to the diverse needs of modern consumers,” the company stated.
The event held on July 6, 2023 featured an exclusive fashion show showcasing the designer’s original creations, complemented by the sleek and sophisticated CAMON 20 Series. The smartphone’s advanced camera capabilities, including the exceptional Night Portrait mode and Ultra Night Lens, captured the essence of each design with stunning clarity and precision.
The event was attended by industry leaders, fashion enthusiasts, media representatives, and esteemed guests. The TECNO CAMON 20 Series includes CAMON 20 Premier 5G, CAMON 20 Pro 5G, CAMON 20 Pro, and CAMON 20. Paired with a captivating 6.8-inch display, a powerful Helio G85 processor, and a massive battery capacity, the CAMON 20 Series offers users an unprecedented mobile photography experience and seamless performance.
It is stated that the device features a state-of-the-art AI Quad Camera setup, Super Night Shot algorithm, and a breathtaking 108MP Ultra-Clear lens. TECNO Mobile Ethiopia has been a trusted brand in the Ethiopian market since 2006, providing smartphones with cutting-edge features tailored to the unique needs and demands of the Ethiopian consumer.
