Tasmania has become one of the first jurisdictions in the world to reduce their carbon dioxide (COâ‚‚) emissions and increase removals to become net carbon negative, according to new research.

The achievement is due to the decrease in the area of Tasmania’s native forests that were logged for pulpwood production. This is a change in forest management that could be applied in other states and territories to bolster Australia’s net emission reductions, experts say.

Lead author Professor Brendan Mackey, Director of Griffith University’s Climate Action Beacon, said forest management could help limit global warming and help the global leaders meet Paris Agreement targets.

“As our paper reports, a significant source of emissions is from deforestation and degradation due to logging native forest,” he said.

“It’s a remarkable achievement for Tasmania to be net carbon negative,” co-author Professor David Lindenmayer from the Australian National University said.

“We hear a lot about carbon neutral but not carbon negative. This is one of the first times on the planet that anybody has ever done this kind of reversal.

“There has been a massive change in the state’s carbon accounts. Tasmania has gone from being a net emitter of carbon dioxide and other greenhouse gases to now removing more than it is emitting to the atmosphere. Tasmania’s net emissions are now in the negative.

“It shows us that change in forest management can have a remarkable impact on climate change. In this case you can pin point the change since the decommissioning of wood chipping and paper pulp exports from Tasmania.”

Professor Mackey also noted that in the case of Victoria, the State Government acknowledged emissions from native forest logging were equivalent to the emissions from 730,000 motor vehicles every year.

“Changing forest management in native forests to avoid emissions from logging along with enabling natural forest growth is an effective strategy that can rapidly reduce emissions and simultaneously increase removals of COâ‚‚ from the atmosphere,” he said.

“It is vital we protect and enhance natural forest ecosystem carbon stocks and that the mitigation benefits of forest protection are properly accounted for and reported to help us achieve the deep and rapid cuts in emissions needed over the coming critical decade.”

The new paper, published in Environmental Research Letters, highlighted how storing carbon in forests could tackle climate change.

“Most of the climate discussions so far have been based on reducing emissions, but that is only part of the equation. We need to store a lot more carbon in the environment,” Professor Lindenmayer said.

“The most effective places to do that is in forests because they store the most carbon per unit area, particularly some of the wetter forests in southern Australia, where you get huge trees and enormous amounts of carbon.

“There is a real need to look at the true economic value of our natural assets and the value from protecting natural forests as national carbon reserves. This contributes way more economically than logging them for wood chips and other commodities.

“We do not need to be the world’s mine and quarry and buying it back as toilet paper, when there is clearly a better way.”

Professor Mackey said: “To make forest protection count for climate we need to change our carbon accounting and reporting so that we record the benefits of both avoiding emissions and allowing ongoing removals from the atmosphere by forest growth.”

 

A study into the management and attitudes of key stakeholders operating in the Great Barrier Reef region has found that past and current approaches do not adequately address climate change threats to the reef or likely losses of species, habitats and processes.

Dr Wade Hadwen from Griffith University’s Australian Rivers Institute and Climate Action Beacon and Lisa Walpole from Alluvium Consulting published the results in Ecology and Society.

The study provides a critical evaluation of management plans and actions with respect to the Great Barrier Reef over the past 30 years, focusing on the degree to which climate change threats have been incorporated into those plans and actions.

A timeline of GBR management campaigns to address risks to its health.

With another mass bleaching event impacting the Great Barrier Reef and a United Nations push to list the reef as ‘in danger’, Dr Hadwen said current management approaches fell short of what was needed to provide the reef with any chance of remaining in good condition.

“In this study, we were able to review the management plans of key stakeholders in the GBR region and explore evidence of the willingness to accept environmental change – and the scientific evidence which has been talking about climate threats for almost five decades – through the lenses of environmental grief and resilience thinking concepts,” he said.

“Despite the huge ongoing investment in reef protection, few components of the reef management program have fully incorporated climate change and recognised that changes in the ecosystem are occurring now and are inevitable.

“This analysis highlights how the strategic planning environment for the GBR is lagging behind the state of knowledge.”

The researchers found that management efforts for the GBR had focused on ‘resilience as recovery’ and fell short of ‘resilience as adaptation’ and the opportunities created by ‘resilience as transformation’.

Despite the state of scientific understanding, Dr Hadwen said the study revealed how the prevailing individual or collective mindset could support or suppress a ‘resilience as transformation’ approach to management of the GBR.

“Over the past five years, the GBR has been exposed to several unprecedented climate-related events, including three coral bleaching events and impacts from severe tropical cyclones, poor water quality from catchment run-off, population increase and urbanization, port expansion, fishing, and habitat loss,” he said.

“Acceptance of a future change in state in terms of system structure and function, and related changes in environmental, social, and economic values, would lead to a significant shift in the way the GBR is managed, liberating agencies and stakeholders to let go of the past and plan for the future.”

The findings ‘Extreme events, loss, and grief–an evaluation of the evolving management of climate change threats on the Great Barrier Reef’ have been published in Ecology and Society.

Fifty-six students from 11 high schools across South-East Queensland will converge on Griffith University’s Gold Coast campus to work with the space industry’s brightest to build and launch a satellite into space.

As part of SPASE (STEM Program About Space Exploration), the students from Years 9-11 will work with Griffith University experts in Information and Communications Technology and Advanced Manufacturing, alongside space industry experts Gilmour Space Technologies, Deloitte and Airbus to build and launch a prototype satellite.

The satellite launch mission has been named ‘Platypus’.

The cube satellite design, or CubeSat, will be designed, programmed and built by students throughout the year during on-site experience days, and at their respective schools in between, and be launched into space from the Bowen spaceport in Northern Queensland next year.

Students will join the Queensland Chief Scientist, representatives from Gilmour Space, Deloitte, Airbus and Griffith academics at the Griffith Gold Coast campus on April 29 for the first of the four interactive experience days, where they will learn about:

“Exploration is part of being human,” said Professor Paulo De Souza, Head or Griffith’s School of Information and Communication Technology and Director of the SPASE program.

“We all wonder about space and this Platypus mission will provide our students with a unique experience to be part of the space industry.

“It is designed to give students a real-world – or out of this world – experience, take risks and learn how STEM can be exciting and rewarding.”

The CubeSat is a 10cm³ satellite that will be attached to Gilmour Space’s Eris rocket, and launched approximately 400km above the Earth sometime next year. It will house a camera and temperature sensors.

Images taken on board the CubeSat will record cloud cover in a unique way using artificial intelligence to process an image immediately.

The aim of this technology is to assist natural disaster management preparations as it will more conclusively map weather trajectories and illustrate how effects to climate could be monitored.

“The Platypus mission offers a rare opportunity for students to apply their STEM knowledge and gain hands-on experience in building and operating real tech in space,” said Gilmour Space CEO, Adam Gilmour.

“It’s a great way for us to share our passion with the next generation.”

“The wonderful thing about space, is that it gives us all the opportunity to explore together. That is why Deloitte is delighted to be part of such an important program that inspires the future leaders in this exciting new industry, and sets the foundations for generations to come,” said Jesse Sherwood, the Lead Partner, Industrial Redesign and Innovation, at Deloitte.

“Airbus Defence and Space is proud to support Griffith University with their exciting SPASE program for students in Queensland,” said Martin Rowse, Director Space – Australia, Airbus Defence and Space.

“The CubeSat mission allows students to learn about the many aspects of a space program and get hands-on project experience, from design through to launch.

“It is programs like these that help to encourage students to pursue careers in the Australian Space industry and we at Airbus, are inspired to see the genuine enthusiasm of the next generation for all things Space.

We look forward to continuing to support this initiative with access to space experts and mentoring students through their CubeSat Space journey.”

Queensland Chief Scientist Professor Hugh Possingham said the project was a recipient of Queensland Government funding as it would expose students to the wonder of science, technology, engineering and maths.

“Not only will the lucky students engage with STEM professionals and learn about exciting potential careers, they will also be embarking on useful and cutting-edge work that will be valuable for future research and government decision-making,” Professor Possingham said.

The Platypus Mission patch was designed by Arita Bounnhong, a Mabel Park State High School Year 12 who wanted to include different coloured stars to symbolise the inclusivity and diversity of the people involved in project, and patterns that represented Earth from our perspective in comparison with the perspective of Earth from space.

Schools taking part in the SPASE program include Brisbane State High School; Clairvaux Mackillop College; Helensvale State High School; Hillcrest Christian College; LORDS; Mabel Park State High School; Marymount College; Merrimac State High School; Pacific Pines State High School; Robina State High School; and Southport State High School.

The SPASE project has received $18,889 in funding from the Queensland Government s Engaging Science Grant program.

One of the most ambitious climate change surveys conducted in Australia has found three out of four Australians are concerned about it and support policies that limit its potential impacts.

Results of the Climate Action Survey, carried out by Griffith University’s Climate Action Beacon, showed while climate change concerned a minority of Australians a decade ago (34%), in 2021 it was a mainstream issue that caused concern among the majority of Australians (72%) who demanded government action.

Climate Action Beacon researchers conducted the first of five annual Climate Action Surveys in September-October 2021.

“In terms of sample size, methodological rigour, multidisciplinary input and breadth of coverage, it was one of the most ambitious climate change surveys yet conducted in Australia,’’ said lead author Associate Professor Sameer Deshpande.

The report was also the first in a series of five annual surveys to deliver a rich source of data on climate change attitudes and behaviours.

Key highlights:

“Approximately three out of four reported feeling ‘fairly’ or ‘very’ concerned about the effects of climate change, which is more than double that of a similar survey 10 years ago,” Associate Professor Deshpande said.

“Almost a quarter of respondents believed that climate change was an ‘extremely serious’ problem right now, and 45% believed it would be by 2050.”

In the first year of the survey 3,915 people (51.1% female, Male = 46.6 years), stratified by gender, age group, and state of Australia, were recruited and their sentiments used for analysis.

The results show that approximately 2% of the survey population were climate change deniers, 5% sceptics, 16% as unconvinced about climate change, and the vast majority (77%) were firm believers in the reality of climate change.

“There was high levels of climate change understanding, concern, and action in those 35 years or under, students, inner urban residents, the university educated, people who don’t speak English as the main language at home, and people who vote for the Greens or the Labor Party,” Associate Professor Graham Bradley said.

“Climate change denial, disregard, and inaction were more common among the older, less highly educated, and more politically conservative members of the survey population.”

Compared to males, women reported stronger beliefs and greater climate change concerns.

The survey shows the Australians gather information about climate change from various sources.

“They place most trust in scientists and scientific publications, and in long-established government organisations like the Bureau of Meteorology and CSIRO. They rate politicians and social media as the least trustworthy source of climate change information,” Associate Professor Kerrie Foxwell-Norton said.

“In terms of responding to climate change, the most commonly reasons for not engaging in pro-environmental climate actions were entrenched routines or habits, insufficient time and or money, and lack of knowledge about what actions to take and doubts about how it will help.”

Analyses of data, and consideration of the implications of the findings, are ongoing, with a second survey planned for September 2022.

Griffith Universityhas been ranked first in Australia for its performance against the United Nations’ Sustainable Development Goal (SDG) 16 – Peace, Justice and Strong Institutions – in the Times Higher Education (THE) Impact Rankings 2022.

Professor Lee Smith

The University was also ranked number one in Queensland for its progress against SDG 11 – Sustainable Cities and Communities.

Griffith Deputy Vice Chancellor (Research) Professor Lee Smith said the University was proud to lead the way in sustainable development.

“At Griffith, we recognise the critical role that universities play in achieving the United Nations’ 17 SDGs,” Professor Smith said.

“We’re led by our values. Both our teaching and research prioritise innovation and social impact to reflect our belief that everyone deserves a chance to make a difference—for themselves and others.”

Griffith was ranked in the Top 100 (92) globally overall, with the THE rankings capturing universities’ impact on societybased on their success in delivering the United Nations’ SDGs.

“A top 100 result for Griffith University is an exceptional outcome considering the additional number of universities ranked this year,” Professor Smith said.

The efforts of close to 1500 institutions were analysed by THE, up from 1200 in 2021, a 23 percent increase in the number of participating universities worldwide.

“It is wonderful to see the global take-up by fellow institutions and the focus many universities are now directing towards some of society’s greatest challenges.”

2022 ranking Sustainable Development Goal
20 SDG 16 Peace, Justice and Strong Institutions
22 SDG 3 Good Health and Wellbeing
54 SDG 11 Sustainable Cities and Communities
99 SDG 10 Reduced Inequalities
101-200 SDG 13 Climate Action
101-200 SDG 4 Quality Education
101-200 SDG 17 Partnership for the Goals

Griffith’s performance towards SDG16 was bolstered by a range of strong existing and new initiatives, including the University’s Academic Freedom and Freedom and Speech Policy, which took effect in February 2021.

The #1 in Australia ranking also reflects important work carried out by bodies like the University’s Centre for Governance and Public Policy, which provides advice to governments at all levels, and recently launched Australia’s National Integrity System with Transparency international and the first Asia Pacific Integrity School.

Other leading University centres include Griffith Asia Institute, Policy innovation Hub, Cities Research Institute, and the Australian Rivers Institute, which was named the Number One Global Water Security Think Tank in 2020.

The number of graduates from law and enforcement related courses, which grew 14 percent in the past year, was also another key metric towards SDG 16.

This year, Griffith made submissions for seven of the UN SDGs, up from four in 2021. 2022 marks just the fourth year of the THE Impact rankings.

Director, Griffith Centre for Sustainable Enterprise, Dr Rob Hales said Griffith’s performance over the last couple of years was remarkable given the youth of the rankings metric.

“A consistent result in the top 10 percent of rankings over time is a very good measure of the sustainability commitment of a university,” Dr Hales said.

“Over time the ranking methodology for SDGs will likely mature and everything Griffith is doing in relation to these important global indicators should be accurately reflected in future results.”

“The THE Impact Rankings contribute towards raising awareness and ensuring accountability for continuous improvement in relation to the UN SDGs and Griffith is a committed partner in these efforts,” Professor Smith added.

Griffith University is a signatory to theUNGlobal Compactand has signed up to the Sustainable Development Solutions Network–Universities Commitmentto the Sustainable Development Goals.

The UN SDGs were adopted in 2015 as a universal call to action to end poverty, protect the planet and ensure all people enjoy peace and prosperity by 2030.

Read more about Griffith’s commitment to sustainable development.

New analysis into the residue inside ancient ceramic vessels from 11th-12th century Jerusalem has found that they were potentially used as hand grenades.

Previous research into the diverse sphero-conical containers, which are within museums around the world, had identified that they were used for a variety of purposes, including beer drinking vessels, mercury containers, containers for oil and containers for medicines.

This latest research, led by Griffith University’s Associate Professor Carney Matheson, confirmed that some vessels did indeed contain oils and medicines, and some contained scented oils, consistent with other recent research into the use of the vessels.

However, his findings also revealed that some of the vessels contained a flammable and probably explosive material that indicated they may have been used as ancient hand grenades.

Associate Professor Matheson, from Griffith’s Australian Research Centre for Human Evolution, said the explosive material he analysed within the vessels suggested that there may have been a locally developed ancient explosive.

“This research has shown the diverse use of these unique ceramic vessels which include ancient explosive devices,” he said.

“These vessels have been reported during the time of the Crusades as grenades thrown against Crusader strongholds producing loud noises and bright flashes of light.

“Some researchers had proposed the vessels were used as grenades and held black powder, an explosive invented in ancient China and known to have been introduced into the Middle East and Europe by the 13th century. It has been proposed that black powder may have been introduced to the Middle East earlier, as early as these vessels from the 9th-11th century.

“However, this research has shown that it is not black powder and likely a locally invented explosive material.”

Associate Professor Matheson said the research also revealed that some of these vessels had been sealed using resin.

“More research on these vessels and their explosive content will allow us to understand ancient explosive technology of the medieval period, and the history of explosive weapons in the Eastern Mediterranean,” he said.

The findings ‘Composition of Trace Residues from the contents of 11th-12th century sphero-conical vessels from Jerusalem’ have been published in PLOS ONE.

Australians have faced higher costs of living in recent months, with little relief around the corner. ABC’s Vote Compass shows that 45% of respondents (between 12-19 April 2022) have found it harder to make ends meet relative to a year ago. The Australian Council of Trade Unions (ACTU) claims that the average worker on $68,000 a year has seen their real wage cut by $832 in 2021, the worst outcome in two decades as the CPI rose by 3.5%, greater than the rise in the hourly wage rate of 2.3%

The general argument being made is that the rising cost-of-living is due to inflation outstripping wage growth, thus suggesting that the solution lies with (a) reducing inflation, (b) raising wages and more effectively (c) attempting to do both in tandem. However, as this article will suggest, while such steps are helpful, they are blunt instruments that will leave many struggling for years to come, even if the inflation we suffer from today is transient and due to international supply constraint and geo-political factors outside the firm control of the Australian government.

This is as headline rates for the consumer price index (CPI) and wage growth are a useful barometer for the ‘average’ Australian, who, in a land as vast as ours, does not actually exist, and that a sizeable minority of the Australian population rely on either government assistance or other non-wage income as their main income source.

Capitals versus regions

First, the CPI is capital-city centric and thus does not reflect the cost-of-living  in regional and remote areas, and even among capital cities the annual inflation rate of 5.1%  (March 2021-March 2022) varies by between 4.4% – 7.6%, disparities of which will only be accentuated in smaller population areas where the significant rise in transport cost (up 13.7%) will strike disproportionately..

As well, the consumption patterns of the composite ‘average’ consumer that exists in the mechanisms of the CPI formulation may bear little resemblance to much younger and older Australians, with the latter consuming far more medical products than the former, who would more likely face pressures in the housing market, be it rental or mortgage.

Gender

Gender differences in consumption patterns are also not accounted for; given we already know that our industries are highly gender segregated and that wage rises are not uniformly distributed, this yields cost-of-living  pressures that bifurcate by gender. The cost-of-living pressure could be better understood if we were to view the components of the aggregate CPI, for the greater issue is the rise in price of what the ABS terms non-discretionary inflation (covering food, petrol, housing and health), which rose by 4.5% relative to discretionary inflation, which rose by a far more modest 1.9%.

Second, the CPI should be used together with the far less known Living Cost Index (LCI), which attempts to look at expenditure by household type, thus moving away from the non-existent ‘average’ Australian, though it remains capital-city centric.

The latest available annual figures correspond to the 3.5% inflation rate of December 2020-December 2021 shows that the worst hit group are (i) aged pensioners, (ii) self-funded retirees and (iii) pensioners and beneficiaries, with the least negatively affected being employees.
The latest available annual figures correspond to the 3.5% inflation rate of December 2020-December 2021 shows that the worst hit group are (i) aged pensioners, (ii) self-funded retirees and (iii) pensioners and beneficiaries, with the least negatively affected being employees.

This suggests that the conversation on higher wages misses out on a whole host of Australians struggling to make ends meet, and who’s income growth has been even slower than for wage earners. This is particularly pertinent as 23% of households who report governments pensions and allowances as their main source of income, with a whopping 65% (32%) of those in the lowest (second-lowest) income quartile reporting it as their main source of income in the financial year 2017-18. Given lower rates of employment in regional areas, this is once again accentuated in regional and remote areas of the country, which receive little attention due to urban centric data being largely reported.

Third, as briefly noted, wage rises are not uniform, as the Wage Price Index is as blunt an instrument as the headline CPI figure. The annual rise is higher for the private sector (2.4%) than the public sector (2.1%), which is surprising given government and RBA directions to boost wages, and can differ widely by industry (1.3% – 3.5%) and by states and territories (1.4% – 3.2%).

“… policies that increase employment rates and subsequently wages, operate well in theory but are not necessarily as effective in reality, as seen by unmet projections and given that a significant proportion of Australians work in insecure jobs..”

Electricity Shock

Alleviating cost-of-living pressures

A more nuanced view of cost-of-living pressures is necessary to ensure the right steps are undertaken to alleviate them.

First, we would have to acknowledge that governments have limited room and ability in the short-run to reduce the rate of inflation when inflation is largely imported from overseas.

Second, policies that increase employment rates and subsequently wages, operate well in theory but are not necessarily as effective in reality, as seen by unmet projections and given that a significant proportion of Australians work in insecure jobs. For this group, a rise in hourly pay may not translate to higher income if the hours worked are reduced, for example, while direct negotiations with employers are subject to asymmetrical power plays, thus further reducing the ability to gain higher wages.

As well, wages growth take time to be realised and are hostage to external factors such as global economic growth, which are difficult to control. Third, we cannot ignore variations in cost pressures and income sources that differ by location, gender, age and family size. Those on government assistance are increasingly suffering from the high cost-of-living  relative to the employed and are seemingly marginalised in the debate on raising incomes.

Responses to consider

The fastest way for the federal government to make inroads into cost-of-living  pressures when inflation is not significantly due to excess demand (as is the case now) is to increase assistance to those most vulnerable to these cost pressures. It can be undertaken directly, as we witnessed with the COVID-19 supplements, or indirectly, perhaps by increasing childcare subsidies. Both need not be viewed as being expenditures only, for then their benefits are ignored. Direct supplements for example, flow back almost instantaneously into the economy, given that the marginal propensity to consume of lower income groups is extremely high; in plain English, every extra dollar delivered by the government to lower-income individuals will be immediately almost-wholly spent, with the revenue going into the local economy.

Given demand spending is not the main cause of inflation at present, such expenditures are unlikely to significantly add to the CPI in the short-term. Rising childcare subsidies allow for parents (mainly mothers) to enter the workforce or work more hours, thus paying for the scheme itself via higher tax receipts and increased family expenditure as family disposable income rises.

Tackling the cost-of-living  pressures is complex, but we would be better placed to ameliorate its effects if we move away from headline figures and drill down into their constituent parts and put forward policies that better target the most vulnerable among our society that require the greatest attention; this include non-wage earners, those in regional areas and those unable to work more hours or at all given parenting and caring labor.

Author

Dr Parvinder Kler

Dr Parvinder Kler is an Associate Professor in Economics based within the Department of Accounting, Finance and Economics. He has training in both Economics (Ph. D) and Political Science (Advanced Masters in International Studies), both obtained at the University of Queensland where he was also a Lecturer in Economics.

Parvinder joined Griffith University from the United Nations, where he was an Economics Affairs Officer based in Beirut, Lebanon. He has worked on projects with agencies at both state and federal levels in Australia, as well as with an internationally based conglomeration of unions. His primary areas of research include labour economics, gender issues, job and life satisfaction, economic development, economics of education and financial market regulation.

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A new Griffith University and Tweed Shire Council partnership is set to support emerging Aboriginal and Torres Strait Islander town planners.

Aspiring First Nations town planners can apply to take part in the Aboriginal and Torres Strait Islander Town Planner Development Program, which offers financial and cultural support, and the opportunity to work as a planner throughout their degree.

Director of Griffith University’s Cities Research Institute, Professor Paul Burton, said it was important to have more Aboriginal and Torres Strait Islander people joining the planning profession and progressing to leadership roles.

“The insights that Aboriginal and Torres Strait Islander people can provide and the values they bring to urban and regional planning are incredibly important,” Professor Burton said.

“With more than 60,000 years of knowledge and experience of managing the Australian landscape, it is essential we encourage and support more First Nations planners to join the profession, especially if we want to be better placed to plan for more sustainable and resilient communities.”

The program will support one Aboriginal and Torres Strait Islander student enrolled in the Bachelor of Urban Planning (Honours) at Griffith’s Gold Coast campus, with a scholarship that supports tuition fees.

For up to four years during their studies, they will also receive paid employment for the equivalent of one day a week with the Tweed Shire Council’s Planning and Regulation Division, based in Murwillumbah.

Professor Paul Burton.

“From day one, you will be immersed in the world of planning practice at Tweed while you develop your theoretical and critical skills at Griffith,” Professor Burton said.

“This will equip you with the knowledge, skills and experience to help make our region a great place to live, work and play.”

Tweed Shire Council’s Director of Planning and Regulation, Vincent Connell, said the program aims to increase the number of Aboriginal and Torres Strait Islander town planners locally and Australia-wide by offering a model for other universities and councils.

“First Nations people are under-represented in town planning across the country,” Mr Connell said.

“Councils are major employers of town planners in cities and regions throughout Australia — if we work with universities and Aboriginal and Torres Strait Islander organisations, we can redress this situation.

“A more diverse profession is a stronger and more effective profession.”

Applications are open until 12pm 13 May 2022.

As digital transformation continues to accelerate across the Asia-Pacific region, the prospect of developing Central Bank Digital Currencies (CBDCs) is rapidly growing in interest. Driven by a range of potential benefits a CBDC could provide, including greater efficiency and resilience of the financial sector or ensuring monetary sovereignty over the growing use of alternative digital currencies, many governments are eager to explore and understand the potential opportunities enabled through a CBDC. One of these opportunities is for CBDCs to play an important role in supporting greater financial inclusion.

To support governments interested in this potential opportunity, the role of CBDCs to achieve greater financial inclusion has been adopted as the central theme of the 2022 APEC Asia-Pacific Financial Inclusion Forum (APFIF). APFIF is a policy initiative of APEC established by APEC’s Finance Ministers in 2010 for the purpose of identifying and developing concrete actions that policy makers and regulators can take to extend the reach and value of financial services to everyone, including those at the base of the economy who are most in need. The initiative is led by the Asian Development Bank with implementation support provided by the Griffith Asia Institute (GAI) and the Asian Development Bank Institute.

Supporting APEC’s theme for 2022 “Open. Connect. Balance.” established by this year’s host, Thailand, as well as the APEC Putrajaya Vision 2040 which calls for greater cooperation to advance innovation, digitalisation and inclusive economic growth, the APFIF initiative in 2022 will provide valuable insights for the region’s policymakers and regulators seeking to develop inclusive digital economies that can enable greater access to formal financial products and services to the unbanked or underserved.

GAI Industry Fellow, Shawn Hunter, says

“As an emerging technology, there remains a great deal of uncertainty about the value a CBDC could contribute to enhancing financial inclusion.”

The APFIF initiative will explore several of these potential opportunities and provide guidance to APEC’s policymakers on important design features which could enhance the CBDC’s potential to drive financial inclusion.

Examples of some of the potential financial inclusion opportunities enabled through a CBDC that will be explored through the initiative include:

Throughout the year, the Griffith Asia Institute will be working with its partners, including government agencies and industry leaders, to implement a series of research activities to build the collective understanding of the potential role of CBDCs to drive financial inclusion; and the implementation of targeted capacity building programs to support the plans of the region’s central banks as they continue to explore the pros and cons associated with this new form of currency.

For more information visit Griffith Asia Institute APEC Study Centre.

COVID-19’s Delta variant may use a novel invasion method to evade the body’s immune response, causing more damage to the brain, intestine and kidneys than the original Wuhan strain a Griffith University study has found.

Led by Menzies Health Institute Queensland’s Dr Xiang Liu, the researchers compared the original Wuhan strain with Delta and found distinct immune response patterns between the ancestral SARS-CoV-2 and Delta variant.

“In our study, we found that Delta-infection induced the similar levels of disease symptoms as the ancestral SARS-CoV-2, but with significant dissemination and tissue damage to multiple organs including tissue lesions in the brain and intestinal wall thinning,” Dr Liu said.

“Surprisingly, the numbers of leukocytes (white blood cells) recruited to the lung tissue during Delta infection were significantly lower.

“These observations suggest the Delta variant may have yet unknown immune evasion mechanisms which increases infection. We hope to understand how this biological process happens with future research.”

Dr Adam Taylor, who co-led the study, said as SARS-CoV-2 variants were continually emerging it was critical to study disease progress to understand and manage clinical threats.

“These results will help shed light on the changing disease profile of COVID-19 and may guide therapeutic interventions for emerging SARS-CoV-2 variants,” he said.

The Delta variant first emerged from India in 2020 and was found to be highly contagious compared to the Wuhan strain. Pfizer and AstraZeneca COVID-19 vaccines were shown to have reduced effectiveness against Delta.

The study has been published in mBio.