When is a nonprofit CEO's salary too high?
Britains vote to Brexit from the European Union took place five years ago today. Speaking of hard borders: if you think the U.S. is staying closed to most travelers too long, consider that China has decided to keep its Covid border restrictions for another year. Send your tips and thoughts: [email protected], or follow Ryan on Twitter. Happening Today  UNITED NATIONS SLIM DOWN  UPDATE: Were still a long way from a final decision on the size of national delegations allowed to attend the U.N. General Assembly leaders week in September. In-person meetings in 2021 have been restricted to ministers or ambassadors and just one to three officials per country, but some national governments would like up to 20 officials per country in UN HQ in September. Any official number will need to be agreed upon with New York and U.S. federal authorities. Then theres the likelihood that governments will attempt to bring in more officials to the U.S. but leave them outside the official meetings. The idea of a small UNGA with only presidents, prime ministers and foreign ministers is intriguing. What if, rather than doing endless side events with NGOs, senior politicians focused on each other? said International Crisis Groups Richard Gowan. Temptations of the gravy plane. National UNGA delegations in a normal year can be huge: numbering over 200 in cases ranging from Bangladesh to Russia. But if China can make do with 27 delegates and France with 20, youve got to think the official cap could be quite low to deal with pandemic considerations. UN REFORM  NO PROGRESS ON SECURITY COUNCIL EXPANSION: At least six groupings of countries have met to discuss the issue, including the African Union; the G4 of India, Brazil, Japan and Germany; the L69 group of developing countries; the Arab League and the Caribbean Community. Surprise! Theres still no consensus on how to expand the dysfunctional, veto-ridden Security Council. While a majority of countries want reform according to one ambassador from a major excluded country, theres no viable path to reform because veto-wielding countries (U.S., Russia, China, France, U.K.) arent interested in giving up the privilege. Another problem is that countries that say they want change may also also see the status quo as the least worst option. A new global social contract: A research team at the Washington D.C.-based Stimson Center, led by Richard Ponzio, has published a roadmap for new global governance, to fill gaps in thinking around what a new global social contract could look like, and is pushing for a 2023 World Summit on Inclusive Global Governance. The center is launching a Global Governance Innovation Network on June 24. Metal barricades line the main entrance to the United Nations headquarters in New York. | Mary Altaffer/AP Photo  A message from SimpliSafe: Most security companies send a technician to your home. SimpliSafe doesnt. Order online. Set it up in 30 minutes. After that, youre protected 24/7. Learn more. FINANCING THE FUTURE  CLIMATE TRANSITION ECONOMICS: With rich governments frequently failing to support both their own and developing countries' green transitions, it will be up to private capital and central banks to shoulder most of the burden. Kara Mangone, global head of climate strategy at Goldman Sachs, estimates the global bill will be 100 to 150 trillion dollars. Even with the U.S. International Development Finance Corporation making climate their top priority, they have only $60 billion to throw at the problem. If Biden delivers his Build Back Better World plan in full, it will pump less than $1 trillion into green infrastructure. In the search for alternatives, Jake Levine, DFCs chief climate officer, told Global Translations, he is shopping a paper written by Barbara Matthews for the Atlantic Council, as required reading across the administration. Matthews thesis: central banks have a critical but under-appreciated role in the solution. Climate change meets inflation: When central banks say climate risk is real, there are monetary policy impacts: to price in immediately all of the risks from 2050 to the present, that has a material impact on inflation, for example, Matthews said. Private companies also lack the data they need to accurately measure climate risk everywhere they invest. The number-one pain point that comes up with institutional investors and corporate clients is data and disclosure, said Mangone. Its one thing to measure a coal companys emissions, but quite another to measure those of a real estate company. The EU has been leading disclosure regulation debates, and the European Commissions Martin Spolc told Global Translations that if outsiders think the EU approach is too rigid, this is actually something that the financial sector itself was calling for. They argue that lack of clarity on what is green is actually hampering their efforts to scale up their sustainable investment. And in the EU, thats a legal issue given the blocs legally binding emissions reductions targets. Its not good enough just to say Im doing something positive for the environment, Spolc said. We need to have objective measures, objective criteria.  INFRASTRUCTURE INVESTMENT: Rockefeller Foundation launched a $1 billion partnership with IKEA Foundation Monday, an attempt to finance more than $10 billion of small-scale renewable power projects that could help lift more than 1 billion people out of energy poverty. The Center for Global Development, which specializes in anti-poverty research, spent two years measuring the diversity of nonprofit governing boards: both the skills and competencies of board members, and also the demographics. Interactive dashboard of the report findings. Their review of 15 of the largest humanitarian nonprofits working internationally found:   Affected populations have little voice on boards: Fewer than 2 percent of governing board members had personally experienced a humanitarian crisis or time as a refugee  meaning theyre outnumbered ten to one by board members with domestic political connections.  Majorities of every board surveyed come from rich countries.  While theres near gender parity on the boards surveyed, only Action Aid USA and Plan International UK had a non-white majority on their board. Amid an internal backlash over how the global nonprofit International Rescue Committee addresses alleged racism in its ranks, a subplot emerged over the salary of its CEO, David Miliband. For several years now, Milibands total compensation has been in the range of $1 million a year. He runs an organization with an $800 million a year budget, and 20,000 staff working in 40 countries, but critics point out that IRC still offers unpaid internships and advocates for often penniless refugees. Salary.com says that the average New York-based nonprofit CEO (Miliband lives in New York) makes $186,000 a year, and that one in 10 makes over $290,000. Those figures are nothing on the leading nonprofit CEO salary: former American Petroleum Institute CEO Jack Gerard raked in $10 million in 2019. Tell me at [email protected]  GLOBAL RISKS AND TRENDS  AFGHANISTAN  A LOOMING MESS: Deborah Lyons, U.N. special envoy on Afghanistan, told the U.N. Security Council Tuesday that the Taliban have seized 50 of 370 districts in Afghanistan in recent weeks, as U.S. and NATO forces plan their withdrawal. More broadly, as talks falter between the Taliban and the American-backed government, ethnic groups across the country have formed militias or say they plan to arm themselves, New York Times reported. Irelands Foreign Minister Simon Coveney warned that Afghanistan is now the most dangerous country in the world for civilians today with violence specifically directed at aid workers, women and children, while U.S. Rep. Young Kim (R-Cali.) worries for Afghans who supported Americas 20-year war efforts after the troops depart. Leaving behind the tens of thousands of Afghans who put their lives on the line to help U.S. troops fight terrorism cannot be an option, she said. SPORT MEETS PRIDE MEETS POLITICS: UEFA, the administrative body for European soccer, has banned a Munich stadium hosting a Germany v. Hungary match tonight from lighting the stadium exterior in Pride flag colors as a celebration of inclusion. The idea was deemed too political by UEFAs executive committee, because apparently it subtweets Hungarys adoption of legislation designed to suppress information available to under-18s about homosexuality. Pro-tip: When youre a 27-strong executive committee that includes 25 men and 26 white people, you should probably pick your diversity battles wisely. UEFAs leaders didnt though, and backlash now extends to Germanys other major soccer stadium agreeing to light up in Pride colors tonight and dozens of news articles shaming UEFA and the Hungarian government. Efforts to suppress attention which generate even more attention are known  appropriately, given its Pride month  as the Streisand effect. The NFL, learning lessons from past diversity disasters, showed how to do it the right way. SANCTIONS CORNER  NICARAGUA: The Senate Committee on Foreign Relations approved bipartisan legislation for coordinated sanctions with Canada and the EU to pressure Nicaragua to hold democratic elections due in November 2021, via the Reinforcing Nicaraguas Adherence to Conditions for Electoral Reform, which targets corruption by Nicaraguan President Daniel Ortegas government and family. BELARUS: Sanctions coordinated with the EU, U.K. and Canada were imposed on Belarus on Monday, in response to forced landing of Ryanair flight, targeting 46 Belarusian officials. CHINA SOLAR IMPORTS BAN: The Biden administration is considering banning imports of polysilicon, a critical solar panel material, from China's Xinjiang region, according to four people familiar with the administration's plans. COVID CORNER  CHINESE VACCINE CONCERNS, ITS NOT JUST SEYCHELLES: On Monday Global Translations reported how Seychelles tops both the global vaccination and Covid infection rates charts. But theyre not alone. In Chile, Bahrain and Mongolia, 50 to 68 percent of the populations have been fully inoculated, outpacing the United States but all ranked in the 10 countries with the worst Covid outbreaks, alongside Seychelles. The common thread: they mostly used shots made in China, by Sinopharm and Sinovac. U.S. VACCINE DONATIONS BEHIND SCHEDULE: The government has only shipped about four million doses of a pledged 20 million. The White House pledged in May to deliver 80 million doses abroad in June, including 60 million through COVAX, the global vaccine aid program. INCLUSIVE RECOVERY SPOTLIGHT  WERE ALL WOKE ECONOMISTS NOW: National economic goals must change and we need to be flexible about how to meet them  thats the short version of Federal Reserve Chair Jerome Powells House testimony Tuesday. Powell said he will be monitoring employment outcomes for gender and ethnic groups as part of a commitment to maximum employment and more inclusive prosperity. Last week, Powell prefaced his testimony by saying we have to be humble about our ability to understand the data, in response to conflicting statistics about the health of the economy. FIRED FOR NOT SMILING  NOT ANY MORE IN NEW YORK: At will employment, under which workers can be fired for any reason, will end July 5 for fast-food workers in New York City. Going forward, employers will need to show workers have engaged in misconduct before termination, which Bloomberg describes as ushering in a historic shift of negotiating power away from bosses to employees.  ENTREPRENEURSHIP FOR EQUITY: Racial Inequity Drawdown is a new resource and call-to-action for founders and investors wanting to use their entrepreneurship to reduce racial inequities. A message from SimpliSafe: Its finally easy to make sure your house is safe. Whatever youre worried aboutfrom french doors to basement windowsSimpliSafes got your back. Just click here to customize your system and get a FREE security camera. GLOBETROTTERS  NEW YORK  BIG CITY, TINY POLITICS: The votes are in for the New York mayoral Democatic primary race  let the crapshoot begin. Eric Adams, who ran as a moderate, has a healthy lead in provisional first choice votes  but since no candidate instructed their voters on how to rank their second to fifth choices under New Yorks new ranked choice voting system, its anyones guess what happens next. AMBASSADOR FAREWELLS: Chinas longest-serving ambassador to the U.S., Cui Tiankai, is leaving Washington, Australias outgoing top diplomat, Frances Adamson, accused China of a siege mentality and chronic insecurity in a farewell address. Germanys plain-speaking representative to the United Nations, Christopher Heugsen, heads off next week, while Polands outgoing U.N. ambassador Joanna Wronecka has started work as Antonio Guterres new special coordinator for Lebanon, and will be replaced by Krzysztof Szczerski  who arrives in New York from the Polish presidents office, where he was chief of staff. The New York farewells and arrivals are prompting the U.N. diplomatic social circuit to whir back to life. The EU, Germany and Pakistan alone hosted soirees  on Monday!  including the EUs Pride party at the hip Club Cumming, owned by Scottish actor Alan Cumming. Its the beginning of a new era  taking the diplomatic community into the real New York, said Alexander Stutzmann, a European diplomat who works for the President of the U.N. General Assembly. Thanks to editor Ben Pauker, Nahal Toosi, Laurenz Gehrke, Joshua Posaner and Johanna Treeck. Follow us on Twitter Ryan Heath @PoliticoRyan