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New York CNN —The state of Maryland is about to get an insurance payment of $350 million related to the collapse of the Francis Scott Key Bridge in late March, according to the broker handling its policy on the structure. The payment would come from insurer Chubb, which has a $350 million limit on the policy it had written on the bridge, according to Henry Daar, head of property claims, North America for WTW, the broker on the policy. The payment will be made soon rather than waiting for the construction of a new bridge to begin, a process that could be years away. The accident temporarily closed much of the operations of the Port of Baltimore, trapping ships in the port. The planned payment by Chubb was first reported Thursday by the Wall Street Journal.
Persons: Francis Scott Key, Chubb, Henry Daar, Dali Organizations: New, New York CNN, Francis Scott Key Bridge, WTW, Grace Ocean Private Limited, Synergy Marine PTE LTD, CNN, National Transportation, Wall Street Locations: New York, Maryland, North America, Baltimore, Port of Baltimore
In early 2020, Franziska Trautmann and Max Steitz, then seniors at Tulane University, were spitballing ways to keep their glass out of the trash. For all of its imbibing, New Orleans didn’t offer curbside glass recycling. For Ms. Trautmann and Mr. Steitz, this wasn’t just galling, but a missed opportunity. “We underestimated how much demand there was,” Mr. Steitz, 27, said. Now, four years later, their company, Glass Half Full, is the only glass recycling facility in New Orleans.
Persons: Franziska Trautmann, Max Steitz, Trautmann, Steitz, ” Mr, Organizations: Tulane University, Zeta Psi Locations: New Orleans, Crescent
World leaders are gathering in Ottawa, Ontario, this week to hash out a global treaty to end plastic pollution. This story is available exclusively to Business Insider subscribers. AdvertisementHundreds of businesses and countries support cutting plastic production. Lin represents the Business Coalition for a Global Plastics Treaty, which includes more than 200 companies. Cutting plastic production would also hit the bottom line of oil majors such as Exxon.
Persons: Carroll Muffett, Jose Fernandez, Biden, Allison Lin, Lin, Stewart Harris, Harris, Neil Nathan, Nathan, He's Organizations: Service, Business, Center for International Environmental Law, Organization for Economic Co, Lawrence Berkeley National Laboratory, State Department, Mars Inc, Business Coalition, Global Plastics, Walmart, PepsiCo, International Council of Chemical Association, Oxford Economics, Exxon, The International Energy Agency, UC Santa Barbara, US Locations: Ottawa , Ontario, Russia, Iran, Saudi Arabia, Washington, DC, Paris, Ottawa, Belgium
WM CEO Jim Fish: We're taking customer lifetime value and using it as a key pricing metricWM CEO Jim Fish joins 'Mad Money' host Jim Cramer to talk quarterly results, the recycling business, his take on the economy and more.
Persons: Jim Fish, Jim Cramer
The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.
Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, , Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio
It's an urgent question — what do we do with the 40 million tons of plastic waste we produce annually? One year of plastic waste is roughly enough to smother the entirety of Manhattan a meter deep, and it has to go somewhere. For decades, America sent its plastic waste to countries like China and Indonesia. Unlike aluminum or glass, the plastic that can be recycled rarely results in replacing one recycled water bottle with another. By downcycling a tiny portion of plastic waste, companies can genuinely reuse a relatively small share of plastic, while convincing consumers that the industry has created a circular economy of infinitely recycled plastic.
Persons: Kartik Byma, they're, Tim Miller, Susan Freinkel, Nestlé, Lea Suzuki, Larry Thomas, what's, Taylor Dorrell, Biden, that's, Taylor, Miller, Kelley Sayre, Vicky Abou, it's, Mike Bloomberg, Bloomberg, Espen Barth Eide, Norway's, Abou, It's Organizations: Getty, America, Chevron, Exxon, Paper Stock, Plastics Industry Association, Organization for Economic Co, San Francisco, NPR, International Energy Agency, ExxonMobil, Alterra Energy, National Renewable Energy Laboratory, Royal Paper Stock, Akron, Buckeye Environmental, Business, Eastman Chemical Co, American Chemistry Council, New, Beyond Plastics, UN, Buckeye Environmental Network Locations: America, Manhattan, China, Thailand, Malaysia, Indonesia, AFP, Ohio, American, San Francisco, Akron, Taylor Dorrell Akron , Ohio, United States, Oregon, New York City
AI and industry 4.0 technology presents an unprecedented opportunity for manufacturers to transform their operations. Alat has already partnered with several global leaders in advanced manufacturing to work together on these challenges. Alongside advanced technology, another critical element of Alat is the use of clean energy and sustainable practices to become a leader in sustainable manufacturing. Alat will also implement sustainability best practices into every facet of its processes, which integrate the most up-to-date industry 4.0 thinking to enable sustainable manufacturing. Through the combination of advanced technology, best practices, and commitment to sustainability, Alat is reimagining manufacturing, for a better tomorrow.
Persons: Alat Organizations: Saudi Arabia's Public Investment Fund, Alat, SoftBank Group, Saudi, Sustainable Technology, Insider Locations: Saudi, Saudi Arabia
Sections of the Ghazipur landfill in New Delhi burst into flames on Sunday, causing dangerous heat and methane emissions and adding to India’s growing climate challenges. Smoke rises on April 23, following a fire that broke out at the Ghazipur landfill in New Delhi, India. Noemi Cassanelli/CNNFires burning at Ghazipur landfill site in New Delhi, India, April 22, 2024. Ghazipur landfill in New Delhi on April 23, following a fire that broke out. Firemen work to douse the fire at Ghazipur landfill on April 22, 2024 in New Delhi, India.
Persons: Noemi Cassanelli, Adnan Abidi, Taj, Narendra Modi, Vipin Kumar, hasn’t Organizations: New, New Delhi CNN, CNN, Reuters, Center for Science, Clean Air Initiative, Municipal Corporation of Delhi, Solutions, Indian, Firemen, Hindustan Times Locations: New Delhi, India, Ghazipur, Bhalswa
Sopa Images | Lightrocket | Getty ImagesMining of critical minerals plays a crucial role in the global green transition, but the broader industry's bad reputation and other challenges present investment barriers, industry experts warn. Critical minerals include metals such as copper, lithium, nickel, cobalt and rare earth elements, and are important components in emerging green technologies such as wind turbines and electric vehicles. Speaking on a panel at Singapore's annual Ecosperity Week, which ended Wednesday, mining industry experts and investors said the growing demand from green tech makes it necessary to increase government support and capital flows into the critical mining sector. Many of the same companies that mine critical minerals also mine environmentally damaging fossil fuels like coal. One area that has seen recent strides and investments has been in the recycling of critical minerals, which cuts down the need of extraction.
Persons: Adam Matthews, Dominic Barton, Barton, Scott Clements Organizations: PT Vale, Getty Images, Global Investor Commission, Mining, Royal Bank of Canada, Rio Tinto, LeapFrog Investments, International Renewable Energy Agency, EV, World Bank, Tribeca Capital Locations: PT Vale Indonesia, China, Paris, Rio, Indonesia's Sulawesi, Rio Tinto, Western Australia
Keurig coffee sales in the U.S. reached over $4 billion last year, while Wall Street analysis pegs Nespresso sales at roughly $1.5 billion. The U.S. coffee pods and capsules market is expected to grow to $10.1 billion by 2028 up from $8.4 billion last year, according to market research firm Mordor Intelligence. Environmentally friendly, biodegradable, and compostable coffee pods are increasingly in demand, and have been on the market for a few years, such as NEXE, a packaging solutions supplier based in Canada, which launched a line of compostable coffee pods in the U.S. and Canada in 2021, which it markets as Nespresso-compatible. Getting customer buy-in for new products is also a challenge for companies looking to produce more sustainable coffee pods. Here's a look at what Keurig and Nespresso — the two largest makers of at-home coffee pod systems — have planned for at-home coffee drinkers as part of that push to keep the pods from filling up the garbage.
Persons: Pepper, Joe, Dillon Baxter, Nespresso, Dr, it's, Monique Oxender, Oxender, they'll, Keurig Organizations: Intelligence, National Coffee Association . Companies, Nestle, Recycling Locations: U.S, Canada, there's, North America, Europe
The faithful gathered in an imposing modernist building, thousands of men in skullcaps and women in veils sitting shoulder to shoulder. “Our fatal shortcomings as human beings have been that we treat the earth as just an object,” Grand Imam Nasaruddin Umar said. Like fasting during Ramadan, it is every Muslim’s Fard al-Ayn, or obligation, to be a guardian of the earth. Like giving alms, his congregants should give waqf, a kind of religious donation, to renewable energy. Dismayed by the trash sullying the river that the mosque sits on, he ordered a cleanup.
Persons: Nasaruddin Umar, Nasaruddin Organizations: World Bank Locations: skullcaps, Istiqlal, Jakarta, Indonesia
Vcg | Visual China Group | Getty ImagesBEIJING — China's latest policy to boost demand will soon have a greater effect on growth, a top official at the economic planning agency told reporters Thursday. "We believe this work will achieve bigger and bigger results," he said in Mandarin, translated by CNBC. He noted that equipment upgrades account for 9% to 10% of total GDP. 'Strong' central government fiscal supportIn terms of fiscal funding for those upgrades, Zhao said the central government would provide "strong support." Part of the equipment upgrade and consumer trade-in policy also focuses on improving standards for the kinds of products that can be used.
Persons: That's, Zhao Chenxin, Goldman Sachs, Morgan Stanley, Zhao, Bruce Pang, Fu Jinling, Fu, Francoise Huang, We're, JLL's Pang, Shan Zhongde Organizations: Visual China, Getty, BEIJING, National Development, Reform Commission, CNBC, Analysts, People's Bank of, Allianz Trade, Ministry of Industry, Information Technology, Ministry of Housing, Ministry of Commerce, State Administration, Market, China's Ministry of Commerce, Industry, Global Locations: Qingzhou, Weifang City, Shandong Province, China, oversupply, Beijing, JLL, People's Bank of China
What to do with your solar eclipse glasses
  + stars: | 2024-04-09 | by ( Taylor Nicioli | ) edition.cnn.com   time to read: +3 min
For the fortunate folks who witnessed the rare solar event, there may not be a need to throw out gently used pairs of solar eclipse viewing glasses. That means the same glasses worn during the 2024 total solar eclipse will serve as effective protection during the next total solar eclipse in 2026 that will be visible over Greenland, Iceland, Spain, Russia and a small portion of Portugal and appear as a partial eclipse in parts of Europe, Africa and North America. Where to donate solar eclipse glassesIf the owner of a pair of solar eclipse glasses is not planning on globe-trotting to catch a glimpse of the upcoming solar eclipses, there are several organizations collecting viewers with the aim of donating to those who will be on the path of upcoming events. Eclipse Glasses USA, a retailer of eclipse glasses approved by the American Astronomical Society, is collecting used but undamaged glasses to send to schools in Chile and Argentina that will be within the path where the October 2024 annular eclipse, otherwise known as the “ring of fire,” will be visible. Astronomers Without Borders, a nonprofit organization that collected more than 2 million glasses after the 2017 total solar eclipse and redistributed hundreds of thousands of pairs before the 2024 eclipse, has a growing list of drop-off locations for donations of gently used glasses.
Persons: , , Kerry Hensley, Hensley Organizations: CNN, American Astronomical Society, AAS Nova, American Academy of Ophthalmology Locations: North America, Greenland, Iceland, Spain, Russia, Portugal, Europe, Africa, United States, North Dakota, Montana, Chile, Argentina
By 2025, Nestle promises not to use any plastic in its products that isn’t recyclable. By that same year, L’Oreal says all of its packaging will be “refillable, reusable, recyclable or compostable.”And by 2030, Procter & Gamble pledges that it will halve its use of virgin plastic resin made from petroleum. To get there, these companies and others are promoting a new generation of recycling plants, called “advanced” or “chemical” recycling, that promise to recycle many more products than can be recycled today. So far, advanced recycling is struggling to deliver on its promise. Nevertheless, the new technology is being hailed by the plastics industry as a solution to an exploding global waste problem.
Persons: Nestle, L’Oreal Organizations: Procter, Gamble
She found her neighbors describing the same rattling, realizing they had experienced an earthquake in a suburb about 20 miles east of New York City. New York City Mayor Eric Adams urged New Yorkers to "go about their normal day.” Brittainy Newman/APUSGS said the earthquake occurred at 10:23 a.m. Three neighboring homes in Newark, New Jersey, were evacuated after residents reported structural damage, according to the city’s public safety director. Good quality New York moment.”In Jersey City, New Jersey, Kristina Fiore was sitting at her desk in her apartment when her building shook for a few seconds. The epicenter was just northeast of Lebanon, New Jersey, less than 50 miles west of New York City, according to the USGS.
Persons: , , Jeanne Evola, Eric Adams, ” Brittainy Newman, David Rodriguez, ” Long, Kathy Hochul, James Oddo, Fritz Fragé, , Fragé, Kevin J, Bethel, ” Bethel, Spencer Platt, Reed Whitmont, Kristina Fiore, Fiore, panicking, Betancur, New York Kennedy, ” Nobody’s Organizations: New, New York CNN, Geological Survey, The New York Police Department, ” New York, New York City, New York City Fire Department, Empire, ” New York Gov, NYC Department of, Newark Public, Emergency Management, Philadelphia Police Department, Getty, Boonton Coffee Co, Earthquakes, Federal Aviation Administration, Newark Liberty, FAA, Amtrak Locations: New York, Washington, New York City, Maine, New Jersey, Square, Long, New, Hoboken , New Jersey, , New Jersey’s Hunterdon County, Lebanon, Newark , New Jersey, Newark, New Jersey’s Essex County, Montclair . In Pennsylvania, Lebanon , New Jersey, Manhattan, Park Slope , Brooklyn, York, Jersey City , New Jersey, Boonton , New Jersey, Philadelphia, AFP, Baltimore
Nobody likes the comic who explains his own material, but the writer John Barth, who died on Tuesday, had a way of making explanations — of gags, of stories, of the whole creative enterprise — sing louder and funnier and truer than punchlines. For many years, starting in the 1960s, he was at the vanguard of this movement, alongside writers like Thomas Pynchon and William Gaddis. He declared that all paths for the novel had already been taken, and then blazed new ones for generations of awe-struck followers. He showed us how writing works by letting us peer into its machinery, and reminded us that our experience of the world will always be dictated by the instruments we have to observe and record it. While never abandoning narrative, he found endless joy in picking apart its elements, and in the process helped define a postwar American style.
Persons: John Barth, , Barth, , Thomas Pynchon, William Gaddis Locations: American
Cosmic’s niche is more planet-friendly: Its founder says its backyard homes can generate enough energy to supply some to the primary house. But Cosmic says its units' battery and solar energy systems can generate more than it uses, cutting the homeowner's electricity bill. The studio unit has a five-panel, 2.2-kilowatt photovoltaic system and a five-kilowatt-hour battery. Its founder told BI that both could be upgraded to become a "power plant" for the primary home. Even the water systems have been optimized: The ADUs can be further upgraded with a recycling water filtration system, allowing water to be reused for non-drinking purposes like the toilet or washing machine.
Locations: San Francisco
Tribeca has been a shareholder of Glencore for seven years and has been engaging with management for a year. The company has excellent core asset quality in copper, zinc and coal, as well as a world-leading commodity trading business. Notably, Bluebell Capital Partners agitated for a demerger of Glencore's thermal coal business in 2021. However, in 2023, after acquiring a 77% interest in Teck's steelmaking coal business, Glencore stated its intention to demerge its combined coal and carbon steel businesses. The same can be said for the divestment of the trading business.
Persons: Glencore, David Aylward, Gary Nagle, astutely, Berkshire Hathaway, Ivan Glasenberg, Ken Squire Organizations: Glencore, Tribeca Investment Partners, Tribeca, Financial Times, Australian Securities Exchange, London Stock Exchange, BHP, Rio Tinto, Bluebell Capital Partners, LSE, Rio, NYSE, 13D Locations: Switzerland, Australia, Africa, South America, Sydney, Melbourne, Singapore, London, Tribeca, Glencore, Swiss, Rio, Europe, cyclicality, Berkshire
The Thatch Caye resort in Belize offers a luxury vacation where small details are taken care of. Instead, it'd be carted off to my overwater bungalow without me lifting a finger. A Thatch Caye worker brings the author's luggage to her overwater bungalow. A view of the interior of the overwater bungalow on Thatch Caye. Monica Humphries/Business InsiderOther hidden details made me feel good about staying at Thatch CayeThe other hidden details throughout the trip help Thatch Caye focus on sustainability.
Persons: , Monica Humphries, I've, it's Organizations: Service, BI, Forbes, Gatorade Locations: Belize, Dangriga, Aspen , Colorado, Sydney
Vacation Rentals: How to Shrink Your Carbon Footprint
  + stars: | 2024-03-26 | by ( Elaine Glusac | ) www.nytimes.com   time to read: +1 min
Travelers choosing to stay in a vacation home instead of a hotel may have to spend more time searching for sustainable lodgings, but ultimately they will have more control over their environmental impact. The following are steps short-term renters can take to shrink their carbon footprint. Search for sustainable rentalsThe nonprofit Sustonica validates short-term rentals based on sustainability standards, including conserving water and minimizing waste. Instead, travelers will find its logo on certified listings on platforms like Airbnb and Booking.com. Booking.com, which lists vacation homes as well as hotels, allows travelers to search for listings with sustainability certifications from more than 65 organizations doing third-party reviews of practices ranging from renewable energy sourcing to recycling.
Organizations: Homes
A special cover is used on a farm's waste collection areas (known as slurry lagoons) to catch methane emissions that would otherwise escape into the air. CNH IndustrialThe potential of the methane tractor extends far beyond the farm. Industry leaders pulled together to work on the projectThe success of the methane tractor project is testament to the power of collaboration. Beyond the agricultural sector, the methane tractor project holds promise for transforming the entire automotive sector. By demonstrating the viability of alternative fuel technologies in heavy-duty vehicles, this initiative paves the way for a more sustainable future in transportation.
Persons: Andrew Damant, CNH, Derek Neilson, Eminox, David Phillips, Neilson Organizations: UK's Department for Business and Trade, Advanced Propulsion Centre, Eminox, Mobile, Automotive Transformation Fund, Advanced, Industry, Insider Studios, UK Department for Business, Trade Locations: Cornwall, Europe, CNH, New Holland
As part of this initiative, the Aerospace Technology Institute program will provide support for R&D projects through 2030. This commitment extends the Aerospace Technology Institute (ATI) program until 2030, which supports mid-stage research and development projects led by industry. Another recipient of the ATI program funding is Vertical Aerospace, the UK's pioneer of electric aviation. Smaller businesses reap the benefits of funding programsA key focus of the program is funding projects by SMEs. The UK's long-term vision for civil aerospace is developed through the Aerospace Growth Partnership (AGP), which is a strategic partnership between the UK government, industry, and academia to secure the future of UK Aerospace.
Persons: Paul Griffiths, Dominic Weeks, ZeroAvia, Stuart Simpson, Simpson, Sylatech, Gordon Gunn, MeltX, Griffiths Organizations: Aerospace Technology Institute, ATI, Aerospace, UK Department for Business, Trade, Dornier, ZeroAvia Investment, Cranfield University, Alloyed, University of Sheffield, Aerospace Growth, UK Aerospace, Farnborough, Manufacturing, Insider Studios, UK's Department for Business Locations: North Yorkshire
Called Retro Biosciences, the startup's goal is simple yet supremely ambitious: Add 10 healthy, enjoyable years onto the back end of our lifetimes. But Retro Biosciences actually fits quite neatly into Altman's futuristic worldview. Retro BiosciencesRetro Biosciences sits about 30 miles south of OpenAI's San Francisco headquarters, where ChatGPT was hatched. Joe Betts-LaCroix is the CEO of Retro Biosciences. There are things we already know work super well to improve human longevity, like exercise, diet, faith, and social support.
Persons: Sam Altman, he's, Elon Musk, Mark Zuckerberg, Altman, Instacart —, Joe Betts, LaCroix, isn't, Betts, Retro's, spry, Yamanaka, Shinya Yamanaka, it's, they've, Sora, Thiel, Jeff Bezos, Bezos, Yuri Milner, Billionaire Peter Thiel, He's, Aubrey de Grey, Christian Angermayer, biogerontologist Daniel Promislow, Altman's, Matt Buckley Organizations: Business, OpenAI, Biosciences, Harvard, MIT, Caltech, Extension, Apple, Stanford University, Retro, Bezos, Labs, Billionaire, Cambrian, Retro Biosciences, Bloomberg Locations: geroscience, Silicon Valley, OpenAI's San Francisco, Meta, Golden City, Retro.bio, Redwood City , California, San Diego
NASA awarded Blue Origin $172 million to develop a space station for both astronauts and tourists. The space station, called Orbital Reef, will need to be able to support human life. AdvertisementThe International Space Station won't be around forever, and NASA is pouring hundreds of millions of dollars into its potential replacements. One promising candidate is Orbital Reef — a joint venture between Jeff Bezos's space company Blue Origin and Sierra Space. "Think spacious modules with large windows to view Earth, our blue origin, while experiencing the thrill of weightlessness in complete comfort," Blue Origin states on its website.
Persons: , Jeff Bezos's, Angela Hart, Chris Hadfield, Matthias Maurer, Blue, Thomas Pesquet, Hart, Artemis, George Scott, NASA's, NASA It's, Biden, there's Organizations: NASA, Service, Origin, NASA's, ISS, Space Station, Space, International, ESA, Artemis, Soyuz, Shepard
Coca-Cola unveils all-new bottles — sort of
  + stars: | 2024-03-19 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +4 min
A year later, Coca-Cola made a major change when it took out Sprite bottles’ green PET, which was an additive that was difficult to recycle into new bottles. Here's what the new Coca-Cola bottles look like. However, the label and caps will not be made from 100% recycled plastic. Companies like Coca-Cola have been making more environmentally packaging as consumer awareness and demand for action has intensified in recent years. Coca-Cola’s Smartwater brand also plans to introduce bottles made with 100% recycled plastic in New York and California later this year.
Persons: ” Kurt Ritter, , Ritter, it’s, Emma Priestland, “ Coke, Organizations: New, New York CNN, CNN, Dasani, Cola Company, Coca Locations: New York, North America, California
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