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ecas european casino industry report 2018

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Case Study: European Casino Association Casino Industry ReportThe ECA represents approximately 800 casinos and 55000 employees in 23 countries across Europe.In 2013 the GamblingCompliance research team worked with the ECA to create, for the first time, a far-reaching survey of the substantial economic and.Missing:
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Press releases for 4/18/2016

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COP 21 concluded on December 12 2015 with the signing of an agreement aimed at reducing greenhouse gas emissions from both developed and developing nations.
On November 17 2015, prior to COP 21, those OECD member nations that are party to the Arrangement on Officially Supported Export Credits the Arrangementagreed to a new sector understanding governing the export credit financing of coal-fired power plants the New Rules.
The New Rules aim to help achieve lower emissions targets by discouraging the financing of certain coal-fired power projects.
The New Rules, which the Council of the European Union endorsed on November 26 2015, are scheduled to come into force in January 2017.
The New Rules are subject to a mandatory review starting in 2019 that is expected to further tighten the regime.
The new restrictions explained The participating OECD export credit committees have been reviewing the export credit rules for coal-fired power plants for over two years and finally reached agreement on November 17 2015.
Which export credit agencies ECAs will be affected by the New Rules?
It will apply to ECAs from Australia, Canada, the European Union, South Korea, Japan, New Zealand, Norway, the United States and Switzerland Participating Countries.
How will the New Rules change the export credit finance available?
In South-East Asia, the IDA Eligible Countries include Cambodia, Vietnam and Myanmar.
Outside of South-East Asia, the IDA Eligible countries ecas european casino industry report 2018 large parts of Africa, South Asia and Central Asia.
The New Rules will apply not only to greenfield projects but also to the addition of new coal-fired generating units to existing plants.
When will the New Rules take effect?
The New Rules will be officially incorporated as Annex VI to the Arrangement in the next version of the Arrangement, which is due to be published in early 2016.
Once the New Rules are incorporated into the Arrangement, their terms and conditions will apply to those final commitments for goods and services that fall within its scope and that are issued on or after January 1 2017.
The New Rules will not apply to projects for which a request for proposal was issued prior to January 1 2017, provided that: the request for proposal was issued on the basis of a fully completed technical feasibility study and environmental and social impact assessment; and an application for export credit support for any such project is submitted and acted upon expeditiously.
What do the New Rules mean for the industry?
The OECD estimates that over two-thirds of the coal-fired power projects receiving official export credit support from Participating Countries between 2003 and 2013 would not have been eligible for such support under the New Rules.
Nevertheless, other commentators have estimated that the OECD understanding has the potential to limit the availability of ECA support for around 850 coal-fired power projects currently under consideration globally.
The impact of implementing the New Rules on the global pipeline of coal-fired power projects will undoubtedly be substantial.
However, it is difficult to determine exactly how many planned projects will be shelved, or will switch to a more efficient technology, as a result of the New Rules.
Developers might be able to proceed with alternative sources of funding, including from ECAs from non-Participating Countries, which would include China.
There is understood to be concern among some Participating Countries that, even with the permitted exceptions for certain less developed countries, the New Rules could incentivise governments that are keen to ramp up power generation to source cheaper, less efficient technology from non-Participating Countries.
Several commentators in the media have expressed concerns that China might be a likely source of alternate financing for coal-fired projects for which support is restricted under the New Rules.
It is, however, worth noting that China itself is making overt steps toward carbon reduction.
Around the same time, in December 2015, official news agency Xinhua quoted the State Council as saying that it planned a major shutdown and upgrade of coal-fired power plants with a view to reducing emissions by 60% before 2020, and saving around 100m tonnes of raw coal and 180m tonnes of CO2 emissions annually.
This report came not only during the COP21 talks but also in the midst of an air pollution crisis in Beijing and Northern China.
There is another potential entrant that is not affected, directly at least, by the New Rules and that could also eventuate as an alternate source of financial support for coal-fired projects in predominantly the Asian market.
The newly formed 57-member multilateral development bank, Asian Infrastructure Investment Bank the AIIBhas an initial aim ecas european casino industry report 2018 supporting big ticket infrastructure to meet the urgent needs of Asian countries.
It is not yet clear whether the AIIB will take a stance in line with the Ecas european casino industry report 2018 Bank and the Asian Development Bank the ADB that now offer very limited support for coal-fired power projects.
However, President Liqun has also been reported in December as birthday bash 2018 tickets that coal power is a human rights issue for people living in poor countries and that the AIIB therefore ought to make exceptions for click funding of new coal.
The final policy or guidelines of the AIIB will be closely watched.
It will be interesting to see, in particular, if countries such as Indonesia that have traditionally http://bonus-casinos.top/2018/uk-comedians-2018.html from ECA support for their power projects, and that have an extensive pipeline of coal-fired power projects planned, will adjust to the development of only ultra-supercritical or smaller supercritical technology in order to continue benefiting from Participating Country support or if they might instead seek other forms of financing from commercial banks or non-Participating Countries that remain available.
There has been some criticism that the New Rules could have gone further.
Canada and the EU had both hoped that ECA support would, at least for those power just click for source in higher income economies, be limited to those that are CCS-ready, meaning that they are designed to integrate CCS technology in future.
However it is worth noting that separate OECD export credit guidelines already exist that offer support for projects that integrate operational CCS technology, allowing lending terms of up to 18 years.
If the New Rules do have the desired effect of reducing the development of new coal-fired generating capacity, new opportunities might open up for clean energy developers that are able to access a fuller remit of export credit finance and the additional funding for clean energy projects pledged as part of the COP21 Paris agreement.
However, the extent to which nations and developers will change their plans and seek to utilise cleaner coal technology and alternative sources of power generation, such as wind, solar, geothermal and hydro, is yet to be seen.
The risk for the Participating Countries, one that was voiced by some that sought to limit the extent of restrictions under the New Rules, is that those governments and developers with ambitious plans for the development of largescale, cheap coal-fired plants article source simply turn to other non-Participating Countries for support.
Nevertheless, the New Rules do form a new basis for limiting ECA support for coal-fired power technology while also making allowance for the development needs of emerging economies.
They are also subject to review and possible further tightening in 2019.
If accepted as a sensible and balanced approach in the market, the New Rules could conceivably become a benchmark to be adopted by ECAs from non-Participating Countries and commercial and development banks and might also influence the policies currently being developed by the newly formed AIIB.
See Chris Littlecott, E3G Briefing Paper: Restricting Export Credit Finance for Coal Power Plants, November 2015.
The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to.
Readers should take legal advice before applying it to specific issues or transactions.
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