Category: 3. Business

  • Inaugural report pioneered by AI Security Institute gives clearest picture yet of capabilities of most advanced AI

    Inaugural report pioneered by AI Security Institute gives clearest picture yet of capabilities of most advanced AI

    For the first time, the UK has set out a clear, evidence-based view of the capabilities of the most advanced AI systems – putting hard numbers behind a discussion often driven by speculation and a lack of rigorous evidence.    

    The AI Security Institute’s Frontier AI Trends Report, a public assessment of how the most advanced AI systems are evolving, draws on 2 years of testing AI capabilities in areas critical to innovation and security, including cyber, chemistry and biology.  

    It finds that safeguards – the protections in place to make sure AI behaves as intended – are improving, with the Institute continuing to work constructively with companies to strengthen them and ensure we can unlock the full potential of AI while keeping people safe. While every system tested remains vulnerable to some form of bypass and protection still varies across companies, huge strides are being made.   

    The time it took AISI red-teamers to find a “universal jailbreak” – a general way of getting round a model’s safety rules – for example, increased from minutes to several hours between model generations. That represents a roughly 40-fold improvement.   

    The report is not intended to make policy recommendations, but gives decision makers in the UK and across the world the clearest data yet of precisely what the most advanced AI systems can actually do. Now becoming a regular publication,  it will help to improve transparency, and public understanding of what the technology can do – helping drive responsible conversations about its development as it is increasingly adopted across the economy.   

     The UK will support that work by continuing to invest in evaluation and AI science, working with industry, researchers and international partners to ensure AI delivers growth, new jobs, improved public services, and national renewal for hardworking communities. 

    Its key findings show that the most advanced AI systems are improving at remarkable speed. In just a few years, they have gone from struggling with basic tasks to matching or surpassing human experts in some areas. Headline findings include:  

    • Cyber security: success on apprentice-level tasks has risen from under 9 per cent in 2023 to around 50 per cent in 2025. For the first time in 2025, a model completed an expert level cyber task, requiring up to 10 years of experience.
    • Software engineering: models can now complete hour-long software engineering tasks more than 40 per cent of the time, compared with below 5 per cent 2 years ago.   
    • Biology and chemistry: systems are now outperforming PhD-level researchers on scientific knowledge tests and helping non-experts succeed at lab work that would previously have been out of reach.   
    • Pace of change: the duration of some cyber tasks that AI systems can complete without human direction is roughly doubling every eight months.   

    AI Minister Kanishka Narayan said:  

    This report shows how seriously the UK takes the responsible development of AI. That means making sure protections are robust, and working directly with developers to test leading systems, find vulnerabilities and fix them before they are widely used.

    Through the world-leading AI Security Institute, we are building scientific capability inside government to understand these systems as they evolve, not after the fact, and to raise standards across the sector.

    This report puts evidence, not speculation, at the heart of how we think about AI, so we can unlock its benefits for growth, better public services and national renewal while keeping trust and safety front and centre.

    Prime Minister’s AI Adviser and AISI’s Chief Technology Officer, Jade Leung, said:  

    This report offers the most robust public evidence from a government body so far of how quickly frontier AI is advancing.  

    Our job is to cut through speculation with rigorous science. These findings highlight both the extraordinary potential of AI and the importance of independent evaluation to keep pace with these developments.

    The analysis also identifies early signs of capabilities linked to autonomy, but only in controlled experiments. No models in AISI’s tests showed harmful or spontaneous behaviour, but the report concludes that tracking these early signs now is essential as systems become more capable.  

    Since its creation in 2023, the AI Security Institute (AISI) has become the world’s flagship state-backed AI evaluation body. By fostering close working relationships with major AI companies and developers, it has meant the UK has played a key role in collaboration with them to fix vulnerabilities in AI systems before they are widely used.  

    The government is clear about the limits of what this report does and does not show. It is not a prediction about the future, or an assessment of real-world AI risks today. Instead, it sets out what these systems can actually do in controlled tests – the kinds of capabilities that could matter for safety, security, innovation and growth over time. These are controlled tests, not real-world use, giving a robust, science-based picture of how quickly frontier AI is improving.  

    AI is central to the government’s mission of national renewal. The Institute – whose testing team is the biggest of any government-backed AI body in the world – is already helping companies identify and fix vulnerabilities before their AI systems are widely used. By making sure these technologies are safe and reliable, the UK can use them to support cleaner energy, make public services more efficient and drive opportunity across every part of the country.

    Notes to editors

    AISI Frontier AI Trends report factsheet.

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  • Crypto Chief Faces Backlash After Suggesting to Watch Online Video Guides to Buy Bitcoin in Pakistan

    Crypto Chief Faces Backlash After Suggesting to Watch Online Video Guides to Buy Bitcoin in Pakistan

    The head of Pakistan’s newly created virtual assets regulator has come under criticism after advising the public to learn how to buy Bitcoin by watching online videos, despite the absence of a fully regulated crypto market in the country.

    Bilal bin Saqib, chairman of the Pakistan Virtual Assets Regulatory Authority, made the remarks during an interview with a private television channel. He said he was not a financial adviser but suggested that people could follow online tutorials to buy digital assets, noting that millions worldwide had done so in the same way.

    His comments quickly drew criticism on social media, with users questioning whether such advice was appropriate coming from the head of a regulatory authority, especially at a time when many Pakistanis trade cryptocurrencies through informal and unregulated peer-to-peer platforms.

    Saqib also said Pakistan needed to move beyond conventional thinking and start preparing for the future, arguing that technologies such as digital assets, artificial intelligence, drones, robotics, and quantum computing would redefine how countries operate and exercise sovereignty. He said Pakistan should focus on emerging technologies to remain relevant in the coming decades.

    The remarks come at a time when the government has begun taking formal steps toward recognising blockchain-based systems. Earlier this month, the Ministry of Finance signed a memorandum of understanding with Binance Investments Co., one of the world’s largest digital asset companies.

    The agreement was signed by Finance Minister Muhammad Aurangzeb and Binance Chief Executive Officer Richard Teng, in the presence of Changpeng Zhao, adviser to the Pakistan Crypto Council.

    Under the MoU, both sides will explore the use of blockchain technology for the tokenization and digital distribution of Pakistan’s sovereign and real world assets. These may include government bonds, treasury bills, commodity reserves and other state-owned assets.

    Officials said that, subject to regulatory approvals, assets worth up to $2 billion could eventually be included in the initiative to improve liquidity, transparency and access to international markets.

    However, the controversy surrounding the regulator’s public comments has raised fresh questions about investor protection, public guidance and the pace at which Pakistan is moving into the digital asset space.


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  • 2026 Reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act)

    2026 Reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act)

    ​​We are committed to addressing threats to national security, including the illicit movement of money and money laundering.​ On 16 October 2025, the Minister for Home Affairs, the Hon Tony Burke MP, announced that legislation to amend the AML/CTF Act will be developed.​

    The reforms will give the Australian Transaction Reports and Analysis Centre (AUSTRAC) Chief Executive Officer (CEO) powers to restrict or prohibit high-risk products, services or delivery channels. There will also be an amendment to the definition ‘financing of terrorism’. The Government plans to introduce the reforms in Parliament in 2026.​

    The department is conducting public consultation relating to the proposed reforms ​to the AML/CTF Act.

    The consultation paper contains questions targeted at industry. You can read the Consultation Paper on the 2026 Reforms to the AML/CTF Act​.

    If you have an interest in the reforms, you can make a submission in the portal below.

    Submissions will close on be
    Wednesday, 21 January 2026 at 5 PM AEDT


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  • 2026 Investment Outlook | Brookfield

    Message From the CEO, Bruce Flatt

    Owning Change in a Transforming World

    Private markets continue to grow as investors recognize the role that private assets can play to help them meet their long-term goals. Investors increasingly understand that essential infrastructure, renewable energy, real estate and other real-asset businesses offer enduring value through stability, inflation resilience and compounding growth.

    Today, the long-term opportunities for private capital lie in the megatrends we call the Three Ds: digitalization, deglobalization and decarbonization. These are not temporary cycles—they are structural transformations that are reshaping economies and driving investment for decades to come. As these themes accelerate, owning and building the real assets that form the backbone of the global economy will continue to be the key to building resilient, compounding portfolios.

    Across our businesses, a consistent theme is emerging, and it is one we have adhered to for decades: disciplined transformation. Today’s investment environment rewards operational excellence, efficient capital recycling and a renewed focus on fundamentals.

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  • UK achieves first plutonium milestone

    UK achieves first plutonium milestone

    The UK’s Nuclear Decommissioning Authority (NDA) group has delivered a UK-first nuclear safety milestone, by safely processing a can of plutonium residue into a stable waste form for the very first time.

    This breakthrough marks a significant step toward permanently disposing of the nation’s plutonium legacy and demonstrates the UK’s leadership in tackling this complex nuclear challenge.

    The achievement marks the start of a programme at the NDA group’s Sellafield site to process around 400 cans of plutonium residue; a by-product from historic manufacturing processes of fuels and other materials.

    The residue is processed and made ready for eventual disposal in a Geological Disposal Facility (GDF) in a Sellafield plant that has operated safely since the mid-1980s. Adapting and repurposing existing facilities, rather than building a new one, ensures faster delivery and better value for the taxpayer.

    David Peattie, NDA Group CEO, said: “This UK-first milestone demonstrates the unrivalled expertise of the NDA group, with special recognition for the Sellafield team whose innovation and specialist skills have made this achievement possible.

    “The full immobilisation programme will take many decades, but processing this first can of residue into a disposable form represents significant progress and was achieved within 12 months of the policy being announced.

    “Tackling the UK’s plutonium challenge will remain a top priority for the NDA group for decades, and with the support of the Government’s significant investment in this mission, we’re proud to be leading the way in making the UK safer for generations to come.”

    Minister for Science, Innovation, Research and Nuclear, Lord Vallance, said: “This milestone is a testament to the UK’s leadership in innovation and nuclear legacy management, thanks to the expertise and commitment of our workforce at Sellafield.”

    Euan Hutton, Sellafield’s CEO, added: “Turning the world’s largest stockpile of this extremely hazardous substance into a safe form and then disposing of it will dominate our work for decades.

    “This achievement means we can deal with some of the more problematic plutonium now, making a start on putting the material beyond reach earlier, and underlines our commitment to deal with the legacy of decades of reprocessing work.

    “Our specialist workforce, trained in unique ‘alpha’ skills, have adapted processes to handle material never managed before. Their innovation and commitment should be applauded.”

    Next step – developing the method of immobilising the majority of the UK’s plutonium stockpile

    Building on this UK-first success at Sellafield, the NDA group will tackle the bigger challenge of immobilising the UK’s entire civil separated plutonium inventory, having been tasked by government to do so in January 2025.

    Immobilisation puts the plutonium beyond reach, addressing the long-term safety and security risks associated with it.  As the majority of the plutonium is in a more hazardous oxide powder form and cannot be processed using existing methods, its immobilisation will require designing and proving first-of-its kind technology to lock it into a stable form for permanent disposal in a GDF, and will require a processing plant and interim storage capability to be built at Sellafield.

    The government has recently allocated £154 million over five years to the NDA group to help meet this challenge. This investment has delivered early results with the plutonium residue work, and will continue as the NDA group works with the supply chain to design, install and operate specialist laboratory facilities at Sellafield, where experts can test and prove technology to immobilise the wider plutonium inventory.

    This investment will support 100 jobs, the majority in Cumbria. The NDA group, and in particular Sellafield and Nuclear Waste Services, will work in partnership with the UK National Nuclear Laboratory and the wider supply chain to deliver this nationally important work.

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  • EIC Pathfinder and Accelerator projects among the winners of the Innovation Radar Prize

    EIC Pathfinder and Accelerator projects among the winners of the Innovation Radar Prize

    Two partners from the EIC Pathfinder-funded projects were among the winners of the Innovation Radar Prize: 

    • ExoMatter, a start-up from Germany, were awarded the overall 2025 Innovation Radar Prize for their innovative ExoMatter Platform for Materials R&D, which offers easily searchable AI-enriched data for scientific materials screening, through powerful filters and Exira, the first natural language AI-Agent in this field. They are partners in the Pathfinder SULPHURREAL project, which aims to demonstrate and validate a breakthrough approach for the next generation of carbon-free, direct conversion of solar energy into chemicals that can be stored for virtually unlimited periods.
    • Ecolyte, from Austria, won the ‘Climate, Energy & Mobility’ category for their innovative ion conductive, paper-based membrane that can be used in batteries, fuel cells, electrolysers and water purification systems. They are partners in VanillaFlow project, which which seeks to develop radically new approaches to integrated energy storage by combining artificial intelligence (AI) and machine learning (ML) with flow battery technology. The project aims to replace currently used non-sustainable and critical raw materials with readily available, renewable materials based on starch and lignocellulosics.
    • in addition equal1, a company funded by the EIC Accelerator,  won the ‘Smart Hardware & Robotics’ category for its scalable, on-premises quantum-computing technology, which integrates QPUs with existing CPU/GPU workloads to unlock exponential computing power globally.

    Background information 

    The 2025 Innovation Radar Prize was the 11th edition of this annual celebration of EU innovative excellence. Organised by the European Commission and the Innovation Radar Bridge initiative, it took place in the Unicorn Factory Lisboa, Portugal. Twelve EU-funded start-ups from across Europe competed in three prize categories. 

    At the event each of the 12 finalists – all SMEs, start-ups or spin-offs who had previously received research and innovation funding from the European Commission – delivered a pitch to investors and entrepreneurs outlining their ground-breaking innovations and plans to scale them in the marketplace. 

    More information 

    Innovation Radar Prize winners 

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  • MHRA seeks input on AI regulation at ‘pivotal moment’ for healthcare

    MHRA seeks input on AI regulation at ‘pivotal moment’ for healthcare

    Members of the public, clinicians, industry and healthcare providers are being asked to share their views on how AI in healthcare should be regulated, as part of a “Call for Evidence” launched by the Medicines and Healthcare products Regulatory Agency (MHRA) today (18 December 2025).

    This will support the work of the newly formed National Commission into the Regulation of AI in Healthcare which brings together global AI leaders, clinicians, regulators and patient advocates and advises the MHRA on the future of health AI regulation.

    It is a vital opportunity for all voices, including patients, health professionals, innovators, and the public, to influence the development of a new set of standards and safeguards for how AI is used in healthcare.

    The input will help the MHRA to effectively regulate new AI technologies in the NHS and wider healthcare and ensure they support innovation and meet the needs of patients and families. 

    The call for evidence seeks to hear from everyone, whether they are familiar with how AI is being used in healthcare or simply have thoughts about what rules should be in place to ensure it is proportionately regulated. 

    Key themes include:

    ·       Modernising the rules for AI in healthcare: Are the current rules for regulating AI in healthcare working, or do they need updating to keep pace with new technology?

    ·       Keeping patients safe as AI evolves: As AI systems become more advanced and are used in new ways, how can we spot and address any problems quickly, especially with new types of AI that can learn and change over time?

    ·       Clarifying responsibility: What should the distribution of responsibilities between regulators, companies, healthcare organisations and individuals involved in the use of technology in healthcare look like? 

    Chief Executive of the MHRA Lawrence Tallon, who took over the role earlier this year and who has spearheaded the formation of the Commission, said:

    AI is already revolutionising our lives, both its possibilities and its capabilities are ever-expanding, and as we continue into this new world, we must ensure that its use in healthcare is safe, risk-proportionate and engenders public trust and confidence.  

    The National Commission brings together a host of experts including patients’ groups, clinicians, industry, academics and members from across government. Today we are asking the public to contribute by sharing their thoughts, experiences and opinions.

    We want everyone to have the chance to help shape the safest and most advanced AI-enabled healthcare system in the world at this truly pivotal moment.

    Professor Alastair Denniston, head of the UK’s Centre of Excellence in Regulatory Science in AI and Digital Health (CERSI-AI) and who chairs the Commission, said: “We are starting to see how AI health technologies could benefit patients, the wider NHS and the country as a whole.

    But we are also needing to rethink our safeguards. This is not just about the technology ‘in the box’, it is about how the technology works in the real world.

    It is about how AI is used by health professionals or directly by patients, and how it is regulated and used safely by a complex healthcare system such as the NHS.

    This call for evidence, and the information it will provide, is so important.

    This is everyone’s opportunity to help shape what a future AI-supported healthcare service will look like, and how safety is ensured across the system.

    Professor Henrietta Hughes, Patient Safety Commissioner for England and deputy chair of the Commission, said:

    Patients bear the direct consequences of AI healthcare decisions, from diagnostic accuracy to privacy and treatment access. 

    The lived experience and views of patients and the public are vital in identifying potential risks and opportunities that technologists and clinicians may miss. 

    Your views matter and each of us has the opportunity to shape the role AI will play in our lifetime, and for the generations to come. So please let us know through this call for evidence. 

    We will listen and incorporate the findings to design safe, fast and trusted systems that truly serve patients and the public.

    The Commission’s call for evidence, which runs from Thursday 18 December 2025 to Monday 2nd February 2026, will help ensure AI technologies are safe, effective, and support innovation that benefits patients and the NHS. 

    Anyone can take part, with submissions invited from members of the public, patients, medical professionals, technology companies as well as from healthcare providers.

    The information gathered will help inform the Commission’s work and help inform its recommendations to the MHRA in 2026.

    ENDS

    Notes to editors  

    1. The link for submission will be live from 9.30am on Thursday 18 ecember 2025 – https://www.gov.uk/government/calls-for-evidence/regulation-of-ai-in-healthcare
    2. A survey of the public and NHS staff conducted by the Health Foundation in 2024 found that more than half of the UK public surveyed (54%) and three-quarters of NHS staff surveyed (76%) said they support the use of AI for patient care, and an even greater proportion said they support the use of AI for administrative purposes (61% of the public and 81% of NHS staff surveyed)
    3. [Data from the Nuffield Trust shows that](https://www.nuffieldtrust.org.uk/research/how-are-gps-using-ai-insights-from-the-front-line 28% of GPs currently use AI tools in their clinical practice. With GPs emphasising a lack of regulatory oversight of AI as a major concern, as well as misleading or incorrect outputs.
    4. The UK AI market is projected to reach £1 trillion by 2035, with health and social care expected to see the largest net job gains.​
    5. The Medicines and Healthcare products Regulatory Agency (MHRA) is responsible for regulating all medicines and medical devices in the UK by ensuring they work and are acceptably safe.  All our work is underpinned by robust and fact-based judgements to ensure that the benefits justify any risks.
    6. The MHRA is an executive agency of the Department of Health and Social Care.
    7. For media enquiries, please contact the newscentre@mhra.gov.uk, or call on 020 3080 7651.

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  • Commission appoints members of the new European Innovation Council Board 

    Commission appoints members of the new European Innovation Council Board 

    The Commission has appointed the 20 members of the new European Innovation Council Board. Among them there are 15 new members and 5 members from the previous EIC Board, whose appointment has been renewed.  

    Led by its President, the Board brings together high-level representatives from across the innovation ecosystem, with strong experience and expertise in fields such as academia, entrepreneurship and finance. Its mission is to guide the European Innovation Council (EIC) to become Europe’s go-to instrument for breakthrough innovation and deep-tech scale-ups, maximising impact, channeling resources efficiently and promoting Europe’s strategic autonomy. The Board advises the Commission on the strategy, work programme and thematic portfolios, and may also be asked to provide input on broader innovation policy matters. 

    The new members were selected among the 951 applicants who applied to the call for expression of interest, published in April 2025.  

    The EIC Board members serve in a personal capacity and are appointed for a two-year term, renewable twice. The first meeting of the renewed Board will take place on 29 January 2026. 

    Background  

    The EIC is Europe’s flagship innovation programme to identify, develop and scale up breakthrough technologies and game changing innovations. Established under the Horizon Europe  it has a budget of €10.1 billion to support game changing innovations throughout their lifecycle, from early-stage research to proof of concept, technology transfer, and the financing and scale up of startups and small and medium-sized businesses (SMEs).  

    The composition of the renewed EIC Board ensures a high level of expertise with strong diversity and balance including: 

    • Innovation expertise: bringing together leading researchers, entrepreneurs, corporate executives, ecosystem builders and innovation specialists, with thematic expertise in key EIC priority areas such as digital & artificial intelligence (AI), health & biotech, and the Green Deal & energy transition.
    • Gender: a balanced representation of women and men (50:50);
    • Geography: new Board members represent 16 nationalities, including 7 coming from Horizon Europe widening countries.  

    For more information 

    EIC Board Members

    EIC Board statements 

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  • Scottish Marine Recovery Fund: Consultation Analysis Report

    Scottish Marine Recovery Fund: Consultation Analysis Report

    1 Executive Summary

    1.1 Introduction to the Consultation

    1.1.1 This Consultation Analysis Report summarises the responses to the consultation on the Scottish Marine Recovery Fund (MRF) [1]. The purpose of the Scottish MRF is to enable resources to be targeted at strategic compensatory measures which best address both plan-level and project-level adverse effects of offshore wind projects, maximising the environmental benefit in Scotland.

    1.1.2 Responses to this consultation were collected to inform the design of the Scottish MRF and the relevant United Kingdom (UK) secondary legislation which is required to establish the Scottish MRF and delegate functions to operate and manage it.

    1.1.3 The consultation ran for a period of 6 weeks from 19 August 2025 to 30 September 2025. In total 26 responses to the consultation were received and analysed, with 25 responses from organisations (10 Offshore Wind Sector, 6 Public Sector, 6 Environmental Non-Governmental Organisations (NGOs), 2 Other Marine Industries, and 1 Fisheries Sector) and 1 from an individual member of the public.

    1.2 Overarching Themes

    1.2.1 Consultation Process: Respondents felt that insufficient information and transparency within the consultation documents limited the ability of stakeholders to provide robust and reasoned feedback on details of the proposed Scottish MRF.

    1.2.2 Co-benefits of the Scottish MRF: The MRF was viewed as a positive mechanism for integrating various policy goals and achieving wider benefits across economic, environmental and social domains.

    1.2.3 Cross-jurisdictional responsibilities: There was a strong emphasis on ensuring effective coordination between the Scottish and the UK Government to avoid duplication and gaps in the implementation of compensation measures and the need for collaborative frameworks to ensure the success of the Scottish MRF.

    1.2.4 Integration with existing consenting regimes: Stakeholders frequently raised the theme of aligning the Scottish MRF with existing consenting regimes (Section 36 consents, Marine Licences, Habitats Regulations Appraisals (HRAs) and local authority consent) to maximise its effectiveness.

    1.2.5 Fee timelines and payments: The consultation identified the importance of a clear and competitive fee structures for the Scottish MRF.

    1.3 Summary of responses by category

    Applying to the Scottish MRF

    1.3.1 A majority of respondents supported giving developers flexibility in choosing which MRF to apply to, particularly to address cross-border environmental impacts. This flexibility was seen as beneficial for managing compensation across jurisdictions, provided there are clear, transparent criteria and robust protocols for tracking and quantifying impacts. However, concerns were raised about potential risks such as oversubscription, increased administrative burdens, and the possibility of undermining ecological coherence if developers opt for less stringent MRFs. There were also calls to establish a UK-wide register to prevent double funding and ensure compensation is delivered where it is most ecologically meaningful.

    1.3.2 There was broad support from the Offshore Wind sector for the Scottish MRF being a voluntary mechanism, particularly for projects in advanced stages, as it allows developers to combine fund-based and bespoke compensatory measures. However, some Environmental NGOs and Public Sector respondents cautioned that a purely voluntary system could lead to underfunding or lack of accountability, and called for proven interventions, independent verification, and clear guidance to ensure the fund’s effectiveness and legal standing.

    Funding and Fee Structure

    1.3.3 Respondents to the consultation generally supported the introduction of an initial, non-refundable payment to secure access to compensation measures offered by the Scottish MRF, with most agreeing that the MRF operator should allocate measures to projects as needed. While a full cost recovery model was favoured overall, stakeholders offered contrasting views on payment structures: the Offshore Wind Sector advocated for flexible, instalment-based plans to better manage early-stage project risks and cash flow, while Environmental NGOs preferred upfront lump sum payments to guarantee compensation before any environmental harm occurs.

    1.3.4 Feedback was divided regarding the proposed 30% adaptive management charge. Many respondents questioned the suitability of a flat fee, suggesting instead a risk-based or tiered approach with clearer justification for the figure. There was broad support for surplus funds to be reinvested in restoration efforts. Stakeholders stressed that the scheme should remain cost-neutral and be designed so as not to deter developer involvement.

    Interaction between the Scottish MRF and the UK Government MRF

    1.3.5 There was strong support among respondents for the establishment of a Scottish MRF operating independently from the UK Government MRF, with the majority believing this would better align with Scotland’s planning and environmental frameworks. However, some expressed concerns about the complexity and potential inconsistencies that could arise from managing compensation for mobile, cross-border species under separate arrangements, highlighting the need to maintain a coherent UK network of Marine Protected Areas (MPAs) and uphold biodiversity commitments.

    1.3.6 Respondents also emphasised the importance of close coordination and alignment between the Scottish and UK MRFs. Key recommendations included shared data, consistent standards, and joint oversight to avoid duplication and ensure effective environmental outcomes. There were calls for clear guidance, transparency in intergovernmental collaboration, and joint agreements to prevent inefficiency.

    Impact Assessments

    1.3.7 While some stakeholders welcomed the Business Regulatory Impact Assessment (BRIA), several called for greater detail regarding secondary impacts, notably on fisheries, tourism, and island communities. Environmental NGOs and representatives from the Fisheries Sector felt the assessment did not sufficiently address the unique challenges facing islands and fisheries. The Offshore Wind Sector highlighted the potential for compensatory measures to benefit coastal communities and commercial fisheries through long-term ecosystem restoration and noted the potential for improved consenting timelines and cost predictability.

    1.3.8 On consumer and community impacts, respondents generally agreed that a Scottish MRF could help lower consumer energy costs if managed effectively, although caution was advised to avoid passing compensation costs to consumers.

    General Questions

    1.3.9 Responses indicated broad support for establishing a Scottish MRF as a mechanism to streamline offshore wind consenting and deliver strategic compensation measures, with many believing this would help Scotland progress towards its net zero goals. Most respondents agreed the MRF would be beneficial not only for the environment, but also for the people of Scotland and developers, citing advantages such as reduced administrative burdens, improved compliance certainty, and the potential for large-scale, strategic compensation.

    1.3.10 However, respondents emphasised that the effectiveness of the Scottish MRF would depend on clear governance, detailed guidance on eligible measures, and careful alignment with UK-wide mechanisms. Concerns were raised regarding cost-effectiveness, transparency, and the need for compensation to be available when required. Stakeholders further stressed the importance of strategic planning, robust stakeholder engagement, and adaptive management to ensure the fund delivers equitable and effective outcomes across sectors.

    1.4 Next Steps

    1.4.1 Responses to this consultation will inform the design of the Scottish MRF and the relevant UK legislation which will be required to establish the Scottish MRF. Final guidance on all aspects of the draft policy will be developed following this consultation.

    1.4.2 The Scottish MRF will open as soon as practicable, subject to completion of all required policy work, the relevant legislation to establish the Scottish MRF being passed by the UK Parliament, and necessary functions to establish and operate a Scottish MRF being delegated to Scottish Ministers.

    1.4.3 An approach to monitoring and evaluating the effectiveness of a Scottish MRF is intended to be developed ahead of it coming into operation. The Scottish MRF will be considered against the expectations set out within the draft partial BRIA [2], and any associated business case, as part of that process.

    1.4.4 The feedback received in relation to the draft partial BRIA, and analysed in this consultation analysis report, will be reflected in the final BRIA.

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  • Crude Futures Rise on Venezuela, Russia Supply Concerns – The Wall Street Journal

    1. Crude Futures Rise on Venezuela, Russia Supply Concerns  The Wall Street Journal
    2. Oil prices edge up after reports of possible US sanctions on Russia, Venezuela blockade  Reuters
    3. Crude Climbs as US Threatens Russian and Venezuelan Flows  Rigzone
    4. Monad Media(@Alphaverses) meglátásai  Binance
    5. US Blockade Carries Big Risks for Venezuela, Less So for Oil Markets  Energy Intelligence

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