Technology

Fairtrade Unveils First-Ever ‘Non-Fungible Banana’ Amid Rising Climate Threat to Global Agriculture

Published

2 years ago

November 3, 2022

At COP27 Climate Conference, The Last Banana will warn delegates and governments alike that the future survival of the world’s most popular fruit is at risk

WASHINGTON, Nov. 3, 2022 /PRNewswire/ — Fairtrade International, the leading certification for social justice and sustainability, is set to launch the world’s first Non-Fungible Banana, or NFB, in an effort to spotlight the increasing threat climate change poses to the planet’s most beloved food products and the livelihoods of the farmers and agricultural workers who grow them, the organization announced today.

Dubbed The Last Banana, Fairtrade’s NFB, which differs from a Non-Fungible Token in that it is not commercially accessible and does not rely on energy-intensive processes for production, will be unveiled on 10 November at the United Nations Climate Change Conference (COP27) in Sharm el Sheikh, Egypt, where it will be on view at the FAO Pavilion as a definitive warning to visiting delegates that the future of the global food system hangs in the balance. The Last Banana will also be accessible to audiences in over 21 Fairtrade markets as Fairtrade organizations around the world encourage viewers to visit the NFB’s virtual gallery space online.

“The Last Banana is Fairtrade’s call to the world that if we don’t step up and achieve inclusive and equitable climate solutions with farmers and agricultural workers at the centre of climate action, we risk losing our favourite food products forever,” said Melissa Duncan, Executive Director at Fairtrade International.

Bananas are hands down the world’s most popular fruit. And with an estimated global export value of $7 billion dollars per year, they are also likely one of the most essential, as the banana trade remains the cornerstone of many countries’ economies.

For more than 450 million people around the world, bananas and plantains are vital staple crops. But amid the impact of climate change and the threats posed by plant diseases like Fusarium TR4, the future of bananas is increasingly at risk – a frightening reality brought out in the Fairtrade and Climate Change study released in late 2021.

According to the study’s findings, dramatic weather patterns spurred by climate change will likely deliver severe blows to agricultural production in key regions around the world, from Latin America to the Asia-Pacific. Banana producers in the Caribbean and in Central America, for instance, are expected to face less rainfall and more extreme temperatures, while those in Southeast Asia and Oceania will see an increased risk of tropical cyclones.

“Farmers and workers are not only on the frontline of the climate crisis, they also have critical know-how that can mitigate and address climate risks for the benefit of humanity,” Ms. Duncan continued. “If governments fail to include them in the COP27 outcome and empower them to be the custodians of our planet’s food supply, the only future for one of the world’s most popular fruits may very well be a digital NFB.”

Representing more than 1.8 million farmers worldwide, Fairtrade’s delegation will be active at COP27 calling on leaders of government and the private sector to immediately deliver on climate targets by meeting the $100 billion USD climate aid commitment promised by the end of 2022; ensuring climate finance delivers for small holder farmers and workers by including them in the design of climate programmes; agreeing on regulations that tackle the root causes of environmental degradation, such as deforestation, by penalising non-compliance; and supporting farmers and workers with the costs of adaptation and mitigation.

“We already know that the impacts of the climate crisis are being felt by local communities in low-income countries through unprecedented heatwaves, calamitous droughts, intensified hurricanes and destructive downpours,” noted Juan Pablo Solis, Fairtrade International’s Senior Advisor for Climate and Environment.

“The unveiling of a Non-Fungible Banana is a powerful way for us to remind everyone – from global leaders to consumers – that they cannot take their favourite foods for granted. The current climate crisis could very well mean that the last banana is not too far away.”

Visit The Last Banana in Fairtrade’s Virtual Gallery Space

About Fairtrade America

Fairtrade America works to rebalance trade, making it a system rooted in partnership and mutual respect rather than exploitation. It’s about businesses, shoppers, farmers and workers all partnering so we can all experience the benefits of trade. Fairtrade America is the US chapter of Fairtrade International, the original and global leader in fair trade certification with more than 30 years of experience working for fair trading practices in more than 30 countries across the globe. A non-profit 501(c)3 organization, Fairtrade America is the world’s largest and most recognized fair trade system—part of a global movement for change. Learn more at fairtradeamerica.org, and by connecting with Fairtrade America on Facebook, Instagram and LinkedIn.

Media Contact:
Emily Rado
954-592-2003
emily@schroderhaus.com

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SOURCE Fairtrade America

Technology

Max Stock Limited Announces Change in Shares Held by an Interested Party

Published

4 hours ago

November 24, 2024

CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

Technology

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

8 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

SOURCE Wahed

Technology

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

8 hours ago

November 24, 2024

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

For more information, visit: www.wahed.com

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