Latest news with #MarcJones
Leader Live
03-06-2025
- Politics
- Leader Live
Planning application submitted for 900 new homes in Wrexham
An outline planning application has been submitted by Harworth Group to Wrexham Council for the proposed scheme on land known as Erlas Park - situated to the east of Cefn Road. The proposed site is located close to the Erlas Victorian Walled Garden and Wrexham Rugby Club, and is mainly made up of open grassland and a smaller area of woodland. The proposed site location. (Image: Planning documents) The site has been a key part of Plaid Cymru councillors' fight against the adoption of Wrexham Council's Local Development Plan (LDP). Last year, Cllr Marc Jones won a landmark Court of Appeal case over the controversial LDP. The Court of Appeal ruling quashed the High Court judgment of Mr Justice Eyre made in December 2023 and dismissed the controversial judicial review brought by developers seeking to force through a local plan rejected in April and June 2023 by a cross-party majority of Wrexham councillors. However, an outline planning application has now been submitted for around 900 homes on the site - 20 per cent of which would be designated affordable housing. A design and access statement submitted with the application says: "Erlas Park provides the opportunity to create an attractive, well-connected, high-quality mixed tenure residential neighbourhood with community infrastructure, greenspace and educational and recreational opportunities. "Erlas Park will serve to maximise and deliver the principles of sustainable placemaking for a new community to the east of Wrexham. The benefits of locating new housing growth directly adjacent to the main urban core of Wrexham is a logical and highly sustainable ambition." In terms of access, the design and access says: "Vehicular access to the site will be via Cefn Road, making use of the site frontage along the eastern side of this road. "Whilst the northern part of the site also has frontage with Bryn Estyn Road, it is not appropriate to form a vehicle access onto this road due to its more rural nature, however an emergency access point can be provided here. "Two primary points of access are proposed to serve the residential development: one at the northwestern parcel of the site and one at the south-western parcel of the site. A secondary southern access is also proposed to provide emergency access and additional permeability." (Image: Planning documents) The land to the north of Bryn Estyn Road, is referred to as 'KSS2 (north)' and is being promoted by Barratt and Bloor Homes for 600 new homes. The original application was refused permission in July 2020 and is subject of an outstanding planning appeal. MORE NEWS: The statement adds: "The proposals allow for the provision of a link road connecting the site to the wider KSS2 site allocation to the north to provide connectivity as per the requirements of the Local Plan policy relating to KSS2." There are also proposals for a 10km cycle track and 5km running route on the site. The application, which seeks permission on the broad principles of the development before detailed plans are submitted, will be considered by Wrexham Council at a later date.
Mint
22-05-2025
- Business
- Mint
Analysis-US climate pullback threatens planned debt-for-nature deals
By Marc Jones and Virginia Furness LONDON (Reuters) -Billions of dollars of debt deals aimed at protecting vital ecosystems from Africa to Latin America are at risk of unravelling or may need rework amid concerns that crucial U.S. backing is about to dry up under President Donald Trump. The 'debt-for-nature' swaps, which reduce a country's debt in return for conservation commitments, have gained traction in recent years with deals involving the Galapagos Islands, coral reefs and the Amazon rainforest among the most prominent. The U.S. International Development Finance Corporation (DFC) has been a key player, providing political risk insurance for over half of the deals done over the last five years, accounting for nearly 90% of $6 billion of swapped debt. A source with direct knowledge of the plans said the DFC had about five swaps in the pipeline which are now in question with CEO-in-waiting Ben Black and U.S. government efficiency chief Elon Musk both criticising its climate work. The source did not specify how much debt was covered by the swaps but pointed out that the last few DFC-backed deals involved over $1 billion each. Spokespeople for the White House and the DFC did not respond to requests for comment on future DFC involvement in such deals. A DFC official who spoke on condition of anonymity confirmed to Reuters it stepped down earlier this year as co-chair of a global task force set up in 2023 to expand the use of debt swaps. U.S. Treasury Secretary Scott Bessent has also hit out at multilateral lenders for climate change work amid a broader U.S. retreat that has seen it withdraw from the Paris Agreement to curb global warming. Angola and Zambia and at least one Latin American country are among those whose 'debt-for-nature' swap plans risk needing to be reworked or even abandoned due to DFC uncertainty, four sources that have been directly involved in the projects said. Angolan Finance Minister Vera Daves de Sousa said her country, which is one of the most indebted in Africa and whose rivers feed the Okavango basin vital for endangered elephants and lions, has been talking to the DFC about two potential swaps. One is a debt-for-nature deal, the other a broader 'debt-for-development' swap tied to education and young people. "We feel openness from them (DFC), but especially on the debt-for-development swap," de Sousa recently told Reuters. "We respect their vision," she added. "For us there is no difference – we have opportunities on the development side, and we have opportunities on the nature side." In Zambia, which late last year was looking closely at a swap linked to its vast national parks that are home to over 40% of Africa's elephants, things have changed too. "We are not completely shutting (the swap) down but we are not actively at it right now," its Finance Minister Situmbeko Musokotwane told Reuters, declining to specify the reason for the shift. Generating money for conservation by exchanging costly government bonds for cheaper ones is seen as an obvious choice for smaller nations grappling with heavy debt loads and climate change pressures. The UK-based, non-profit International Institute for Environment and Development estimates that the world's 49 poorest countries seen most at risk of debt crises could swap a quarter of the over $430 billion they now owe. Given the signals coming from Washington, those that do should drop hopes of DFC support and look at alternatives, said White Advisory managing director Sebastian Espinosa, who has advised Barbados, Belize and Seychelles on such swaps. Those could include credit guarantees from major multilateral development banks, potentially alongside private sector insurers and guarantors, as pioneered by the Bahamas last year. Historically, though, DFC backing has been crucial in scaling up deals, offering up to $1 billion in political risk insurance. That protects those who buy the new lower-cost bonds if the governments involved fail to make payments. "Who's going to step in? (to replace DFC) I don't know," said Eva Mayerhofer at the European Investment Bank, which backed a 2023 Barbados swap. "We won't be able to do debt conversions that regularly." The Inter-American Development Bank, involved in five of the last nine debt-for-nature swaps, sometimes alongside the DFC —declined to comment on whether any of its plans were being affected. Investment firm Nuveen's Stephen Liberatore, who has been a cornerstone investor in some debt swaps, said while substitutes for the DFC could be found, the knock-on effects were yet to be seen. "What is the price for a private entity (to provide risk insurance) versus a public entity like the DFC?" Liberatore said. "Does it change the amount of savings?" which are then spent on conservation. "That's the ultimate question." (Additional reporting by Karin Strohecker in London, Chris Mfula in Zambia, Alexandra Valencia in Quito, Duncan Miriri in Nairobi, Libby George in London and Kate Abnett in Brussels; Editing by Simon Jessop and Emelia Sithole-Matarise)
The Print
22-05-2025
- Business
- The Print
Analysis-US climate pullback threatens planned debt-for-nature deals
The U.S. International Development Finance Corporation (DFC) has been a key player, providing political risk insurance for over half of the deals done over the last five years, accounting for nearly 90% of $6 billion of swapped debt. The 'debt-for-nature' swaps, which reduce a country's debt in return for conservation commitments, have gained traction in recent years with deals involving the Galapagos Islands, coral reefs and the Amazon rainforest among the most prominent. By Marc Jones and Virginia Furness LONDON (Reuters) -Billions of dollars of debt deals aimed at protecting vital ecosystems from Africa to Latin America are at risk of unravelling or may need rework amid concerns that crucial U.S. backing is about to dry up under President Donald Trump. A source with direct knowledge of the plans said the DFC had about five swaps in the pipeline which are now in question with CEO-in-waiting Ben Black and U.S. government efficiency chief Elon Musk both criticising its climate work. The source did not specify how much debt was covered by the swaps but pointed out that the last few DFC-backed deals involved over $1 billion each. Spokespeople for the White House and the DFC did not respond to requests for comment on future DFC involvement in such deals. A DFC official who spoke on condition of anonymity confirmed to Reuters it stepped down earlier this year as co-chair of a global task force set up in 2023 to expand the use of debt swaps. U.S. Treasury Secretary Scott Bessent has also hit out at multilateral lenders for climate change work amid a broader U.S. retreat that has seen it withdraw from the Paris Agreement to curb global warming. Angola and Zambia and at least one Latin American country are among those whose 'debt-for-nature' swap plans risk needing to be reworked or even abandoned due to DFC uncertainty, four sources that have been directly involved in the projects said. Angolan Finance Minister Vera Daves de Sousa said her country, which is one of the most indebted in Africa and whose rivers feed the Okavango basin vital for endangered elephants and lions, has been talking to the DFC about two potential swaps. One is a debt-for-nature deal, the other a broader 'debt-for-development' swap tied to education and young people. 'We feel openness from them (DFC), but especially on the debt-for-development swap,' de Sousa recently told Reuters. 'We respect their vision,' she added. 'For us there is no difference – we have opportunities on the development side, and we have opportunities on the nature side.' In Zambia, which late last year was looking closely at a swap linked to its vast national parks that are home to over 40% of Africa's elephants, things have changed too. 'We are not completely shutting (the swap) down but we are not actively at it right now,' its Finance Minister Situmbeko Musokotwane told Reuters, declining to specify the reason for the shift. NEW REALITY Generating money for conservation by exchanging costly government bonds for cheaper ones is seen as an obvious choice for smaller nations grappling with heavy debt loads and climate change pressures. The UK-based, non-profit International Institute for Environment and Development estimates that the world's 49 poorest countries seen most at risk of debt crises could swap a quarter of the over $430 billion they now owe. Given the signals coming from Washington, those that do should drop hopes of DFC support and look at alternatives, said White Advisory managing director Sebastian Espinosa, who has advised Barbados, Belize and Seychelles on such swaps. Those could include credit guarantees from major multilateral development banks, potentially alongside private sector insurers and guarantors, as pioneered by the Bahamas last year. Historically, though, DFC backing has been crucial in scaling up deals, offering up to $1 billion in political risk insurance. That protects those who buy the new lower-cost bonds if the governments involved fail to make payments. 'Who's going to step in? (to replace DFC) I don't know,' said Eva Mayerhofer at the European Investment Bank, which backed a 2023 Barbados swap. 'We won't be able to do debt conversions that regularly.' The Inter-American Development Bank, involved in five of the last nine debt-for-nature swaps, sometimes alongside the DFC —declined to comment on whether any of its plans were being affected. Investment firm Nuveen's Stephen Liberatore, who has been a cornerstone investor in some debt swaps, said while substitutes for the DFC could be found, the knock-on effects were yet to be seen. 'What is the price for a private entity (to provide risk insurance) versus a public entity like the DFC?' Liberatore said. 'Does it change the amount of savings?' which are then spent on conservation. 'That's the ultimate question.' (Additional reporting by Karin Strohecker in London, Chris Mfula in Zambia, Alexandra Valencia in Quito, Duncan Miriri in Nairobi, Libby George in London and Kate Abnett in Brussels; Editing by Simon Jessop and Emelia Sithole-Matarise) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.
Yahoo
22-05-2025
- Business
- Yahoo
Analysis-US climate pullback threatens planned debt-for-nature deals
By Marc Jones and Virginia Furness LONDON (Reuters) -Billions of dollars of debt deals aimed at protecting vital ecosystems from Africa to Latin America are at risk of unravelling or may need rework amid concerns that crucial U.S. backing is about to dry up under President Donald Trump. The 'debt-for-nature' swaps, which reduce a country's debt in return for conservation commitments, have gained traction in recent years with deals involving the Galapagos Islands, coral reefs and the Amazon rainforest among the most prominent. The U.S. International Development Finance Corporation (DFC) has been a key player, providing political risk insurance for over half of the deals done over the last five years, accounting for nearly 90% of $6 billion of swapped debt. A source with direct knowledge of the plans said the DFC had about five swaps in the pipeline which are now in question with CEO-in-waiting Ben Black and U.S. government efficiency chief Elon Musk both criticising its climate work. The source did not specify how much debt was covered by the swaps but pointed out that the last few DFC-backed deals involved over $1 billion each. Spokespeople for the White House and the DFC did not respond to requests for comment on future DFC involvement in such deals. A DFC official who spoke on condition of anonymity confirmed to Reuters it stepped down earlier this year as co-chair of a global task force set up in 2023 to expand the use of debt swaps. U.S. Treasury Secretary Scott Bessent has also hit out at multilateral lenders for climate change work amid a broader U.S. retreat that has seen it withdraw from the Paris Agreement to curb global warming. Angola and Zambia and at least one Latin American country are among those whose 'debt-for-nature' swap plans risk needing to be reworked or even abandoned due to DFC uncertainty, four sources that have been directly involved in the projects said. Angolan Finance Minister Vera Daves de Sousa said her country, which is one of the most indebted in Africa and whose rivers feed the Okavango basin vital for endangered elephants and lions, has been talking to the DFC about two potential swaps. One is a debt-for-nature deal, the other a broader 'debt-for-development' swap tied to education and young people. "We feel openness from them (DFC), but especially on the debt-for-development swap," de Sousa recently told Reuters. "We respect their vision," she added. "For us there is no difference – we have opportunities on the development side, and we have opportunities on the nature side." In Zambia, which late last year was looking closely at a swap linked to its vast national parks that are home to over 40% of Africa's elephants, things have changed too. "We are not completely shutting (the swap) down but we are not actively at it right now," its Finance Minister Situmbeko Musokotwane told Reuters, declining to specify the reason for the shift. NEW REALITY Generating money for conservation by exchanging costly government bonds for cheaper ones is seen as an obvious choice for smaller nations grappling with heavy debt loads and climate change pressures. The UK-based, non-profit International Institute for Environment and Development estimates that the world's 49 poorest countries seen most at risk of debt crises could swap a quarter of the over $430 billion they now owe. Given the signals coming from Washington, those that do should drop hopes of DFC support and look at alternatives, said White Advisory managing director Sebastian Espinosa, who has advised Barbados, Belize and Seychelles on such swaps. Those could include credit guarantees from major multilateral development banks, potentially alongside private sector insurers and guarantors, as pioneered by the Bahamas last year. Historically, though, DFC backing has been crucial in scaling up deals, offering up to $1 billion in political risk insurance. That protects those who buy the new lower-cost bonds if the governments involved fail to make payments. "Who's going to step in? (to replace DFC) I don't know," said Eva Mayerhofer at the European Investment Bank, which backed a 2023 Barbados swap. "We won't be able to do debt conversions that regularly." The Inter-American Development Bank, involved in five of the last nine debt-for-nature swaps, sometimes alongside the DFC —declined to comment on whether any of its plans were being affected. Investment firm Nuveen's Stephen Liberatore, who has been a cornerstone investor in some debt swaps, said while substitutes for the DFC could be found, the knock-on effects were yet to be seen. "What is the price for a private entity (to provide risk insurance) versus a public entity like the DFC?" Liberatore said. "Does it change the amount of savings?" which are then spent on conservation. "That's the ultimate question." (Additional reporting by Karin Strohecker in London, Chris Mfula in Zambia, Alexandra Valencia in Quito, Duncan Miriri in Nairobi, Libby George in London and Kate Abnett in Brussels; Editing by Simon Jessop and Emelia Sithole-Matarise)
Leader Live
20-05-2025
- Politics
- Leader Live
Social media star among Wrexham Plaid Cymru trio standing for Senedd
The surprise candidate for certain is Kayleigh Unitt from Gresford. With more than 118,000 social media followers across a number of channels on tiktok and instagram, she has built a following producing voxpop, blog and interview content for Plaid Cymru. Now she has stepped forward to seek election for the party. "I am honoured to be on the list with two powerhouse community campaigners and feel very grateful we have the support of our members," she said. 'It's time for a fresh start with a Plaid-led government and I'm overjoyed to be part of the team heading into 2026 to bring about some much needed and overdue change in Wales. I can't wait to get out into Fflint-Wrecsam and continue our campaigning." She is joined on the ballot paper by Queensway Cllr Carrie Harper and Wrexham's Plaid group leader, Cllr Marc Jones of Grosvenor Ward. "The polls show that our part of Wales will have a team of Plaid Cymru Senedd Members elected for the first time in 2026," said Cllr Harper. 'We're determined to make a difference and I'm looking forward to giving people a progressive option to vote for next year. 'Labour in Wales have had 26 years of running the Welsh Government and have let Wales down. They've failed to fight our corner in Westminster and are punishing our communities with cuts to the winter fuel allowance and disability benefits. 'Tory voters are now flocking to Reform, a right-wing English party that couldn't care less about Welsh communities. If you want to stop Reform next year, Plaid is the way to do it. 'Next year is a Welsh election and we have a progressive option to vote for so back team Wales, back Plaid Cymru.' Cllr Marc Jones added: "As someone who grew up in Flintshire and has lived in Wrexham for the past 40 years, having the opportunity to represent this area as part of the Plaid team would be a huge privilege. "People are telling us they want change and we can be that positive change here in Fflint-Wrecsam." An early YouGov voting intention poll published on May 7 suggests Plaid Cymru could become the largest party in the Senedd in next May's elections with 30% of the vote, ahead of Reform on 25%, Labour on 18% and Comnservative Party on 13%.
