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2024: The Hottest Year In Human History – A Turning Point For The Planet

For the first time in recorded history, global warming breached the critical 1.5°C threshold in 2024, marking an alarming new chapter in the climate crisis. According to data from the European Earth Observation Programme Copernicus, the average surface temperature last year soared to 1.6°C above pre-industrial levels, making 2024 the warmest year ever documented.

This milestone also marked a grim first: average temperatures exceeded the targets outlined in the 2015 Paris Agreement, which aimed to cap warming at “well below” 2°C and ideally limit it to 1.5°C above pre-industrial levels. Over the past decade, from 2015 to 2024, each year has ranked among the ten hottest on record. Notably, every continental region experienced record-breaking heat in 2024—except Antarctica and Australasia.

Carlo Buontempo, director of the Copernicus program, explained to the Financial Times that last year’s unprecedented wave of climate disasters—from severe floods to scorching heatwaves—was no statistical fluke. Instead, these events were direct consequences of human-driven climate change, exacerbated by rising levels of carbon dioxide and methane.

“Reaching the 1.5°C threshold is like toppling the first domino in a catastrophic chain reaction. We’re toying with forces we can barely control. Every fraction of a degree pushes us closer to more violent storms, prolonged droughts, and increasingly lethal heatwaves,” warned Patrick McGuire, a climate expert from the University of Reading, in an interview with the FT.

While human activity remains the primary driver of these changes, the now-concluded El Niño cycle also played a role in last year’s extreme temperatures. With El Niño officially ending in June 2025 is expected to be slightly cooler, though the underlying trend of rising temperatures remains unbroken.

Adding to the urgency, 2024’s record heat coincided with a worrying global shift in climate priorities. Some businesses scaled back their sustainability initiatives, and political rhetoric in the United States under President-elect Donald Trump signaled a potential retreat from the Paris Agreement.

As the world grapples with these realities, 2024 stands as a stark reminder: the climate crisis is no longer a distant threat but a present-day emergency demanding immediate and unified global action.

Eurobank Approves €258.7M Dividend And €288M Share Buyback

Robust Dividend And Share Repurchase Initiatives

Eurobank S.A. shareholders approved a dividend distribution of €258.7 million at the annual general meeting held on April 28. The resolution was supported by approximately 77% of paid-up capital, representing more than 2.77 billion voting shares. The dividend will be paid from special reserves and remains subject to approval by the European Central Bank.

Strategic Share Buyback And Capital Optimization

In addition, shareholders approved a share buyback programme of up to €288 million over the next 12 months, pending regulatory clearance. The programme includes the cancellation of 28,097,019 own shares, which will reduce share capital by approximately €6.18 million. Following this adjustment, total share capital is set at €792,751,032.04, divided into around 3.6 billion ordinary voting shares with a nominal value of €0.22 each.

Enhanced Executive And Employee Incentives

Alongside capital measures, the meeting addressed remuneration. Shareholders approved an allocation of €35.2 million from special reserves for employee compensation. A five-year programme was also introduced to distribute shares to eligible executives and employees of Eurobank and affiliated entities. In parallel, a revised variable remuneration framework allows selected senior executives to receive up to 200% of fixed pay.

Governance And Audit Oversight Reforms

Changes were also made at the board level. Alexandra Reich was appointed as an independent non-executive director, replacing Jawaid Mirza. Following this appointment, eight of the thirteen board members are classified as independent. Amendments to the articles of association introduce flexibility in board terms and allow partial renewals.

Strengthening Audit And Sustainability Commitments

On the audit side, KPMG Certified Auditors S.A. was appointed as the statutory auditor for 2026. The fee is set at €1.8 million for statutory audits of separate and consolidated financial statements, with an additional €0.3 million allocated for assurance of the sustainability statement. The meeting also approved the 2025 remuneration report and confirmed committee fee arrangements, alongside updates on audit committee activity and independent director reporting.

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