The Weeks of May 29 & June 5, 2023 Newsletter

??THIS WEEK: EU ESG Regulation, IIJR, Critical Materials, Medical Devices

Start your week with a generous dose of foresight.?Be the first to know so you are the first to lead! ?In just 5 minutes get a head start on this week’s global political and economic events that will shape your business, strategy, and portfolio.?Subscribe to our newsletter to receive the latest edition, every Monday, in your inbox.

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Welcome to Government Analytica’s Geopolitical & Development Week Ahead newsletter.?We provide in-depth coverage and analysis of the latest in local and international development, economy, regulations, and politics that shape the national business environment of key countries around the world.

• Market Access & Regulation: We delve into the policies and decisions that shape economic development and regulatory frameworks, and how they impact businesses and individuals alike. We explore the challenges and opportunities faced by different industries and sectors and provide insights into emerging government-influenced trends and opportunities.
• Megatrends: We closely monitor government developments and their potential impact on the economy and regulatory landscape. From changes in government policies to shifts in international megatrends, we keep you informed of their emergence and impact.
• Whether you are a company, business owner, investor, advisor, consultant, policymaker, or simply interested in staying up to date on the latest economic and political developments, our newsletter is the perfect resource for you.

GOVERNMENT ANALYTICA ACADEMY: Learn more about 6-steps to Effective Government Advocacy with this quick 1-pager.?Contact us to learn more about our capabilities and see how we can be of service to you.

HAPPENING THIS WEEK

MONDAY

• Today is?World Environment Day.
• Bonn Climate Change Conference:?The 58th session of the Subsidiary Body for Scientific and Technological Advice (SBSTA)?will take place from 5 to 15 June 2023, in Bonn, Germany.
• The International Labour Organization (ILO)?will hold its?111th annual Conference?in Geneva from 5–16 June 2023.
• The Global Symposium for Regulators (GSR-23)?- (ITU), will be held in Sharm el-Sheikh, Egypt, from 5 to 8 June 2023 under the theme “Regulation for a sustainable digital future” and will include a series of thematic events.
• The second session of the United Nations Habitat Assembly?will be held from 5 to 9 June 2023 in Nairobi. Kenya. The theme of the session is “A sustainable urban future through inclusive and effective multilateralism: achieving the Sustainable Development Goals in times of global crises.”
• International Green Building Technology Expo (Greenovation 2023) 05-07 June 2023, New Delhi, India
• AquaTech China, 05-07 June 2023, Shanghai, China

TUESDAY

• EU Green Week 2023 - Brussels and online - EU Green Week is your annual opportunity to debate, become familiar with, or even celebrate EU environment policy.?It's an opportunity to celebrate the progress we've made, and to encourage individuals, communities, and organizations to take stronger action in future – to protect, preserve and restore our environment, for now and for future generations, while constantly promoting sustainable development. Join the conference on 6 - 7 June to hear the latest about EU environmental policies, and about biodiversity, circular economy, and zero pollution in particular.?More information on the event
• Today, the 2023 edition of Tracking SDG7: The Energy Progress Report will be released online - assessing progress towards global targets on access to electricity, renewable energy and energy efficiency, halfway to the 2030 deadline. It is prepared jointly by the?International Energy Agency (IEA),?the?International Renewable Energy Agency (IRENA),?the?UN Statistics Division (UNSD) at UN DESA, the?World Bank?and the?World Health Organization (WHO)
• Review of the sustainable finance disclosures – public event on the European Supervisory Authorities' consultation - Brussels and online - During this public event, the European Supervisory Authorities will present their proposals and answer stakeholders' questions about the draft amending Regulatory Technical Standards (RTS) revising the disclosures under the Sustainable Finance Disclosure Regulation (SFDR). ?The public hearing will be of interest to stakeholders affected by the SFDR disclosures, in particular financial market participants, their representative associations, environmental associations, investor representatives or consumer bodies, and consultants or academics and representatives from the EU and national institutions.?In a consultation paper published on 12 April 2023, the ESAs have proposed RTS that would amend the SFDR Delegated Regulation (Commission Delegated Regulation (EU) 2022/1288) in response to a mandate by the European Commission to review those disclosures. The consultation paper contains proposals, inter alia, on:

1. New social indicators for principal adverse impact (PAI) disclosures;
2. New product disclosure of greenhouse gas emissions reduction targets;
3. Simplifications to the financial product templates;

• GROW DIGITAL 23 Conference – Brussels - Europe's flagship conference on Generative AI, Space Tech, Industry 5.0 and Deep Tech talent.?Hear the latest about digital innovation, discover groundbreaking deep tech solutions, network with key players from industry, research, and academia, and establish new business relations. How can Europe ensure access to semi-conductors and enhance tech sovereignty? How will Generative AI impact business and labor markets? Which investments are needed to improve Europe's Digital Security, step up in Space Tech, stay ahead of the curve in Industry 5.0, and ensure sufficient investment in talent and tech ventures? More information on the event
• Kuwait National Assembly elections.

WEDNESDAY

• Today is?World Safety Day.
• 8th Annual Global Conference on Energy Efficiency - The conference will be hosted by the French Minister of Energy Transition and the International Energy Agency Executive Director in Paris (France). It brings together ministers, CEOs and other senior leaders to address the global energy crisis and climate imperatives.
• 7th International Conference of Energy Harvesting, Storage, and Transfer, 07-09 June 2023, Ottawa, Canada

THURSDAY

• World Legal IP Summit, 08-09 June 2023, Berlin, Germany

FRIDAY

• 13th International Conference on Environmental and Agricultural Engineering, 09-11 June 2023, Bangkok, Thailand

SATURDAY & SUNDAY

• Montenegro Assembly elections.

GLOBAL ECONOMIC PULSE

The OPEC+ meeting on Sunday and the debate supply cuts. On Tuesday U.S. trade deficit for April and data from the Federal Reserve on consumer borrowing activity in April will be released. There will also be data released on Chinese trade, inflation, and credit data. Interest rate decisions are due from India (currently at 6.5%), Peru (currently at 7.75%) and Poland (currently at 6.75%).

What to watch for:

• Worldwide services, composite and sector Purchasing Managers Index
• Americas: Bank of Canada meeting, US Institute of Supply Management services PMI, trade
• Europe: Eurozone Q1 GDP, Germany trade
• Asia-Pacific: Royal Bank of Australia meeting; China trade and inflation data; Japan GDP; Brazil, Chile, Colombia, Indonesia, Mexico, Philippines, Thailand, and Turkey inflation

Earnings Reports This Week:?JOANN, Inc. (JOAN), GitLab Inc. (GTLB), HealthEquity Inc. (HQY), Ferguson plc (FERG), The J.M. Smucker Company (SJM), Caseys General Stores, Inc. (CASY), Dave & Buster’s Entertainment, Inc. (PLAY), Brown Forman Corporation (BF.A), Campbell Soup Company (CPB), GameStop Corporation (GME), HashiCorp, Inc. (HCP), Smartsheet Inc. (SMAR), DocuSign, Inc. (DOCU), The Toro Company (TTC), Vail Resorts, Inc. (MTN), Signet Jewelers Limited (SIG), NIO Inc. (NIO), Seneca Foods Corporation (SENEA), Aniza Biosciences, Inc. (ANIX), and Nathan’s Famous, Inc. (NATH)

Global Monthly Minimum Wage

NOTEWORTHY REGULATIONS, LEGISLATION, DECISIONS & REPORTS

• The U.S. federal Infrastructure Investment and Jobs Act (IIJA; P.L. 117-58), authorized spending on U.S. IIJA Federal Highway and Public Transportation Programs through September 30, 2026. The IIJA provided $118 billion in general fund transfers to the Highway Trust Fund to keep the fund solvent over the life of the act. This use of general fund transfers is to have been the de facto funding policy for 18 years when the IIJA expires. The IIJA specifically provides advance appropriations totaling an additional $47 billion for highways and $21 billion for public transportation over FY2022-FY2026.?The financial outlook is summarized in a Congressional Research Service report.
• U.S. Department of Energy published a draft report on U.S. Critical Materials Assessment.?This is because increased demand for clean energy and decarbonization technologies requires a different set of material supply chains from those powering the fossil fuel economy.
• Although the US Inflation Reduction Act (IRA) pursues a range of aims, the two main ones are the lowering of inflation by removing purchasing power from the US economy, and to provide the United State's contribution to fighting climate change. Unlike similar European Union measures, most of U.S. climate support is done via tax subsidies. Although hailed in the EU for heralding a new era in US climate policy, the IRA is being criticized for its outright 'Buy American' provisions. Amongst others, it is feared that EU exports to the US will be hampered, and that EU firms might be enticed to relocate to the US. So far, the EU has reacted by adapting its State aid rules and the legislative proposals of the Green Deal Industrial Plan, but it also relies upon the Recovery and Resilience Facility's dedicated climate subsidies to offset the IRA's effects on the EU economy. Further possible EU responses are currently discussed in the report EU’s response to the US Inflation Reduction Act (IRA)
• The International Energy Agency published its 2023 World Energy Outlook.
• The Asia-Pacific Economic Cooperation council’s Committee on Trade and Investment met on 21 and 22 May 2023, in Detroit, Michigan on 3 tracks:?APEC Automotive Dialogue (AD), Chemical Dialogue (CD), and Market Access.?Results and country positions for a variety of sectors were published.
• International Air Transport Association published IATA Air Transport Net Zero Roadmap aiming to provide greater clarity of the developments and actions needed for the airline industry to be able to deliver on its commitment to reaching net zero CO2 emissions by 2050.
• The UK Government published its UK Global Health Framework sets the national ambition to play a leading role in improving health globally and in building resilience to future threats. It outlines the actions the country will take over 2023-2025 in support of health and for a safer and more prosperous UK and world.
• World Health Organization published a conceptual proposed draft for a convention, agreement or other international instrument on pandemic prevention, preparedness and response called WHO CA+
• Korea Medical Device Industry Association published an Assessment of the Medical Device Industry in Korea.
• KPMG report sheds light on two EU directives companies have to abide by for ESG reporting:?Non-Financial Reporting Directive and Corporate Sustainability Reporting Directive

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SECTORS WE TRACK

• MULTILATERAL INSTITUTIONS & DEVELOPMENT
• GEOPOLITICS & POLITICAL RISK
• SUPPLY CHAINS & INDUSTRIAL POLICY
• ECONOMY, FISCAL STIMULUS & SURPLUS SPENDING
• FINANCIAL SERVICES, LABOR & TAXES
• INFRASTRUCTURE & CONSTRUCTION
• ENERGY & ENVIRONMENT
• HEALTHCARE
• TECHNOLOGY
• AEROSPACE & AVIATION
• AUTO & ELECTRIC VEHICLE INDUSTRY

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