
Zero-Down Home Financing: How it Really Works
Section: Business
The endorsement of the WHO Pandemic Agreement by the World Health Assembly on May 20, 2025, marks a pivotal advancement in global health governance.
This agreement arises from two significant insights recognized by the global community: the COVID-19 pandemic underscored critical deficiencies within our existing health security frameworks, and there is an urgent need to enhance our collective response to prevent future health crises.
The treaty establishes a legally binding framework for international collaboration aimed at preventing pandemics and facilitating effective responses when they occur.
Rationale for the TreatyPandemics can have devastating consequences, as evidenced by COVID-19, which has resulted in over 28 million excess deaths worldwide and triggered the most severe economic downturn since the Great Depression. The pandemic has exacerbated social inequities and revealed our unpreparedness in managing such events.
The frequency and severity of pandemic threats are escalating due to factors such as climate change, shifts in human-animal ecosystem interactions, socioeconomic disparities, and population movements. Additionally, geopolitical challenges, including conflicts and the weakening of multilateral systems, further complicate these risks.
The decline in global health assistance, particularly following the United States' withdrawal from international health cooperation, has severely impacted funding, research, and essential services. This has hindered our ability to manage ongoing health emergencies, such as Mpox and H5N1 avian influenza.
Addressing pandemic risks requires a united global effort, as no single nation can effectively combat these threats independently. Treaties, being legally binding under international law, symbolize the highest level of commitment from states to collaborate in achieving shared public health goals.
This pandemic treaty is only the second health-specific treaty created, following the WHO Framework Convention on Tobacco Control, which was adopted 22 years earlier. Together with the recently revised International Health Regulations, the pandemic treaty aims to address gaps that arose during the COVID-19 pandemic by focusing on:
The treaty encompasses a wide range of measures designed to enhance pandemic prevention, preparedness, and response, with a strong emphasis on equity. It will also introduce new mechanisms to support these efforts.
Preventive measures include improved surveillance systems to identify risks more effectively, timely responses, and a One Health approach that recognizes the interconnectedness of human, animal, and environmental health.
Key provisions aim at ensuring the availability and accessibility of vital health products, such as vaccines and diagnostics, by fostering knowledge sharing and expanding production capacities, particularly in low- and middle-income countries.
The treaty will also establish:
If implemented effectively, the pandemic treaty could significantly enhance protections against future pandemics, ensuring quicker access to health products and reducing competition for scarce global resources.
The treaty's domestication by national agencies, including the newly established Australian Center for Disease Control, will bolster domestic health security and foster international collaboration in research and best practices.
Australia's leadership in the Indo-Pacific region can facilitate the regional implementation of the treaty, thus strengthening collective health security.
Next steps for member states include negotiating an annex to create a Pathogen Access and Benefits Sharing (PABS) system, which is crucial for the swift sharing of pathogens and genetic data necessary for developing targeted health interventions.
The adoption of this annex is anticipated during the May 2026 World Health Assembly, after which the treaty will be open for signatures and ratification. The treaty will come into force once 60 countries have ratified it.
A high-level meeting on pandemics is scheduled for the United Nations General Assembly in September 2026 to encourage political commitment from global leaders.
The success of the treaty hinges on the commitment of governments, civil society, and research institutions to transform these agreements into actionable practices.
This pivotal moment in global health comes at a time when the principles of international collaboration are under unprecedented challenge. While the world is not yet safer, the pandemic treaty lays a foundation for improved preparedness against future health threats.
Section: Business
Section: Business
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Section: Health
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