Battle of the Alps? Water Woes Loom Amid Climate Change

A battle is brewing around Europe’s rooftop over the planet’s most precious resource.

The crystal-clear waters from the Alps could become increasingly contested as the effects of climate change and glacier melt become more apparent. Italy wants them for crop irrigation in the spring and summer. Swiss authorities want to hold up flows to help hydroelectric plants rev up, when needed.

For the first time in four years, government envoys from eight Alpine countries — big, small and tiny — were meeting under a grouping known as the Alpine Convention, which was set up 30 years ago to help coordinate life, leisure and the limited resources from Europe’s most celebrated peaks.

The envoys in Brig, Switzerland, representing pint-sized principality Monaco and small Slovenia as well as powerhouses like France, Germany and Italy, focused attention Thursday on what’s known as the Simplon Alliance. Named after an Alpine pass between Italy and Switzerland, it aims to make transportation in the mountains eco-friendly, such as by favoring rail over roads, electric vehicles and public transportation over private cars.

But with global warming causing a worrying shrinkage in Alpine glaciers this year, the issue of water frozen up in the mountains, or showered and snowed on them, is growing in importance. Environmental advocates say jockeying for water isn’t being addressed with enough urgency; they want the Alpine countries to do more to secure the future of the resource that’s been bountiful for centuries.

While many parts of the world have grappled with water woes, well-irrigated and relatively rich Europe has been largely spared so far. Droughts and wildfires raise seasonal worries, but there typically is enough water for agriculture, hydropower, ski resorts, and human consumption. Swiss children were once taught their country was home to the continent’s “water tower,” according to Maria Lezzi, head of Switzerland’s territorial development office.

However, factors like global warming, the fallout from Russia’s war in Ukraine on energy supplies and economic demands have made the issue more pressing.

Last month, Swiss authorities authorized a seven-month increase in the amount of water available for electricity generation from 45 of Switzerland’s 1,500 hydraulic plants — hoping to churn out up to 150 gigawatts more power. Alluding to the possible knock-on effect, the Swiss said the move could temporarily affect fish migration, “which could make replenishing fish populations more difficult in 2023.”

Meanwhile, sparse summer rainfall and a punishing heat wave in northern Italy — which melted snowfields and glaciers in the area — dried up the Po River, jeopardized drinking water and threatened irrigation in what’s known as the Italian food valley.

The “9th report on the State of the Alps” — drafted by the Swiss hosts — notes that water supply is a “particularly pressing issue” because the Alps are a huge reservoir of water, which ultimately flows to the benefit of 170 million people along some of Europe’s most famous rivers, including the Danube, Po, Rhine and Rhone.

A draft of the report, obtained by The Associated Press, noted the need for “consistent availability of Alpine water” for industry, agriculture, hydropower and other uses, adding: “Climate change puts these functions under pressure, as glaciers are receding, and precipitation regimes are constantly changing.”

“Reduced quantities of water and limited reliability of water supply will be a major issue in the coming decades,” it added.

Kaspar Schuler, director of CIPRA International, a commission devoted to protecting the Alps based in tiny Liechtenstein, said governments have done well to put water on the agenda but stopped short of steps to tackle the issue — by setting up working groups, expanding research, or coming up with ways that water can be better shared in the future.

“The description of the difficulties is well done by the Swiss, but they have still no courage to really address the elephant in the room,” said Schuler.

While Alpine resorts and villages rely on water, the major upstream users are Switzerland’s hydropower plants, which want to hold on to the water until it’s most needed to power turbines that provide some 60% of the country’s electricity.

But the biggest consumers of the water are downstream — industrial areas like Grenoble and Annecy in France, Austria’s capital Vienna, and areas around Bolzano in Italy’s South Tyrol are likely to feel an impact.

The southern Alpine towns, especially in France and Italy with their drier climates, are more likely to undergo water shortages than the northern towns, the report said. “This is particularly true of inner-Alpine dry valleys such as the Aosta Valley in northwestern Italy, already affected by significant water stress.”

CIPRA’s Schuler suggested that many have become too complacent about the Alps’ bountiful waters — and those days may be over soon.

“Until now, all the non-Alpine countries — the lowlands — were happy that the Alps have been providing so much: landscape for leisure and sports, ski resorts, and the water as much as everybody needs,” he said. “So far, everybody was happy, and the Alps delivered.”

“In future it will be a battle … about these resources because especially the lack of water can really harm a lot of people,” he said.

Environment Minister Uros Brezan of Slovenia, which is set to take over the Alpine Convention’s presidency, said regional authorities were not taking the issue lightly.

“I think the member states of the European Union and also members of the Alpine Convention are well aware that [the] water scarcity problem cannot be solved only within the national borders, but has to be addressed internationally,” he said.

 

 

Source: Voice of America

 

Clashes as Thousands Protest French Agro-industry Water ‘Grab’

Thousands of demonstrators defied an official ban to march Saturday against the deployment of new water storage infrastructure for agricultural irrigation in western France, some clashing with police.

Clashes between paramilitary gendarmes and demonstrators erupted with Interior Minister Gerald Darmanin reporting that 61 officers had been hurt, 22 seriously.

“Bassines Non Merci,” which organized the protest, said around 30 demonstrators had been injured. Of them, 10 had to seek medical treatment and three were hospitalized.

The group brings together environmental associations, trade unions and anti-capitalist groups against what it claims is a “water grab” by the “agro-industry” in western France.

Local officials said six people were arrested during the protest and that 4,000 people had turned up for the banned demonstration. Organizers put the turnout at 7,000.

The deployment of giant water “basins” is underway in the village of Sainte-Soline, in the Deux-Sevres department, to irrigate crops, which opponents claim distorts access to water amid drought conditions.

Around 1,500 police were deployed, according to the prefect of the Deux-Sevres department Emmanuelle Dubee.

Dubee said Friday she had wanted to limit possible “acts of violence,” referring to the clashes between demonstrators and security forces that marred a previous rally in March.

The Sainte-Soline water reserve is the second of 16 such installations, part of a project developed by a group of 400 farmers organized in a water cooperative to significantly reduce water usage in the summer.

The open-air craters, covered with a plastic tarpaulin, are filled by pumping water from surface groundwater in winter and can store up to 650,000 square meters of water.

This water is used for irrigation in summer, when rainfall is scarcer.

Opponents claim the “mega-basins” are wrongly reserved for large export-oriented grain farms and deprive the community of access to essential resources.

 

 

Source: Voice of America

Iranian currency rates for October 29

BAKU, Azerbaijan, October 29. The Central Bank of Iran (CBI) announced an official rate of foreign currencies on October 29, Trend reports referring to CBI.

According to the currency exchange rate of the Central Bank of Iran, 10 currencies increased and 29 have decreased in price, compared to October 27.

According to CBI, $1 equals 42,000 Iranian rials and 1 euro equals 41,723 rials.

Currency Iranian rial on October 29 Iranian rial on October 27
1 US dollar USD 42,000 42,000
1 British pound GBP 48,605 48,749
1 Swiss franc CHF 42,135 42,558
1 Swedish krona SEK 3,822 3,865
1 Norwegian krone NOK 4,052 4,094
1 Danish krone DKK 5,606 5,683
1 Indian rupee INR 511 513
1 UAE dirham AED 11,437 11,437
1 Kuwaiti dinar KWD 135,522 135,718
100 Pakistani rupees PKR 18,956 19,111
100 Japanese yens JPY 28,437 28,660
1 Hong Kong dollar HKD 5,351 5,351
1 Omani rial OMR 109,100 109,130
1 Canadian dollar CAD 30,830 30,984
1 New Zealand dollar NZD 24,329 24,490
1 South African rand ZAR 2,311 2,340
1 Turkish lira TRY 2,257 2,258
1 Russian ruble RUB 684 687
1 Qatari riyal QAR 11,539 11,539
100 Iraq dinars IQD 2,877 2,880
1 Syrian pound SYP 17 17
1 Australian dollar AUD 26,865 27,283
1 Saudi riyal SAR 11,201 11,200
1 Bahraini dinar BHD 111,703 111,702
1 Singapore dollar SGD 29,732 29,879
100 Bangladeshi takas BDT 41,402 40,111
10 Sri Lankan rupees LKR 1,150 1,151
1 Myanmar kyat MMK 21 21
100 Nepalese rupees NPR 31,862 31,993
1 Libyan dinar LYD 8,374 8,381
1 Chinese yuan CNY 5,792 5,855
100 Thai baths THB 110,509 111,236
1 Malaysian ringgit MYR 8,896 8,905
1,000 South Korean wons KRW 29,469 29,738
1 Jordanian dinar JOD 59,239 59,238
1 euro EUR 41,723 42,268
100 Kazakh tenge KZT 8,973 8,965
1 Georgian lari GEL 15,138 15,114
1,000 Indonesian rupiahs IDR 2,699 2,708
1 Afghan afghani AFN 478 485
1 Belarus ruble BYN 16,586 16,570
1 Azerbaijani manat AZN 24,708 24,707
100 Philippine pesos PHP 72,362 72,136
1 Tajik somoni TJS 4,167 4,164
1 Turkmen manat TMT 11,987 12,020

In Iran, the official exchange rate is used for the import of some essential products.

SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of 1 euro is 286,199 rials, and the price of $1 is 288,103 rials.

NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export.

The price of 1 euro in this system is 271,769 rials, and the price of $1 is 273,577 rials.

On the black market, $1 is worth about 325,000-328,000 rials, while 1 euro is worth about 327,000-330,000 rials.

 

Source: TREND News Agency

 

Iveco Group N.V. announces successful signing of a euro 400 million syndicated term facility

Turin, 28 October, 2022. Today Iveco Group (MI: IVG) (the “Company”) has signed a euro 400 million syndicated term facility with Banco Bilbao Vizcaya Argentaria, Banco Santander, Bank of America, Barclays, BNP Paribas, Commerzbank, Deutsche Bank, Intesa Sanpaolo, Mediobanca – Banca di Credito Finanziario, Mizuho Bank, Rabobank, Société Générale and Unicredit as Bookrunners and Mandated Lead Arrangers.
The facility has a 2-year tenor extendable for up to an additional 12 months at the Company’s sole option.

The proceeds will be used to refinance the current term facility, ahead of the final maturity which would fall in January 2024.

This new facility confirms the firm support to Iveco Group from its key international relationship banks.

Iveco Group N.V. (MI: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a major force in its specific business: IVECO, a pioneering commercial vehicles brand that designs, manufactures, and markets heavy, medium, and light-duty trucks; FPT Industrial, a global leader in a vast array of advanced powertrain technologies in the agriculture, construction, marine, power generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium bus and coach brands; IDV, for highly-specialised defence and civil protection equipment; ASTRA, a leader in large-scale heavy-duty quarry and construction vehicles; MAGIRUS, the industry-reputed firefighting vehicle and equipment manufacturer; and IVECO CAPITAL, the financing arm which supports them all. Iveco Group employs approximately 34,000 people around the world and has 28 manufacturing plants and 29 R&D centres. Further information is available on the Company’s website www.ivecogroup.com

Media Contacts:
Francesco Polsinelli, Tel: +39 335 1776091
Fabio Lepore, Tel: +39 335 7469007
E-mail: mediarelations@ivecogroup.com

Investor Relations:
Federico Donati, Tel: +39 011 0073539
E-mail: investor.relations@ivecogroup.com

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