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☆ A Breakthrough in Plastic Recycling Is Coming Up Short
▼ + stars: | 2024-04-05 | by ( Hiroko Tabuchi | ) www.nytimes.com time to read: 1 min

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

☆ Companies in Japan are offering workers with bad allergies subsidized trips to low-pollen destinations
▼ + stars: | 2024-04-04 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

AdvertisementSome employers in Japan are offering "tropical escape" programs, where workers with bad seasonal allergies get subsidized trips to regions with lower pollen counts, according to The Washington Post. Such programs are seen as a way to enhance worker productivity in Japan, where hay fever is much more prevalent than in the US. It started in 2022 because its CEO has bad hay fever. In Japan, hay fever is not only a public health concern but also a challenge to the economy. In February, Japan's Prime Minister Fumio Kishida described hay fever as a "national disease" that negatively impacts productivity.

Persons: —, Naoki Shigihara, Aisaac, Fumio Kishida, Mitsuhiro, Okano Organizations: Washington Post, Service, The Washington Post, Post, Business, The Japan, country's Ministry of Environment, Centers for Disease Control, Japan Times, Japan's, Chiba Prefecture's International University of Health, Welfare Narita Hospital, Nikkei Locations: Hay, Japan, Okinawa, Hawaii, Guam, Tokyo, Chiba, Nikkei Asia

☆ Here's how the project to develop one tractor might revolutionize the farming and automotive industries in the UK
▼ + stars: | 2024-03-26 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

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

☆ China economy: All-important property market shows no sign of rebound in new year
▼ + stars: | 2024-03-18 | by ( Laura He | ) edition.cnn.com time to read: +4 min

New property sales reached a total of 1.06 trillion yuan ($147 billion) in the first two months of this year, according to data released by the National Bureau of Statistics (NBS) on Monday. The drop also marks a much faster pace of decline from the year-ago period, when new property sales dipped just 0.1%. Property investment fell 9% in the January-to-February period, which was faster than the 5.7% decrease registered during the same period last year. “The correction in property construction is still in its early stages,” Capital Economics analysts said in a research note on Monday. The growth in factory output might be driven by strong exports demand.

Persons: Hong Kong CNN —, “, ”, Louise Loo, ” Loo, Zhiwei Zhang Organizations: Hong Kong CNN, National Bureau of Statistics, Capital, Catering, “, Oxford Economics Locations: China, Hong Kong

☆ Chicago Fire midfielder Kellyn Acosta scores wild stoppage-time goal from inside own half to complete improbable comeback win
▼ + stars: | 2024-03-17 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

The drama was far from over, however, as Chicago, not content with tying things up, went in search of a winner deep into stoppage time. With under a minute to go, it appeared that the home team’s efforts would be in vain as Kellyn Acosta picked up the ball inside his own half. Acosta wheels away celebrating after seeing his long-range strike drop into the back of the net. “For me it was just about getting the ball in the mixed zone basically and create some things,” he explained. The result saw Chicago enter the win column for the first time this season, while Montréal picked up its first defeat of the current campaign.

Persons: Dominic Iankov, Raheem Edwards, Brian Gutiérrez, Hugo Cuypers, Kellyn Acosta, Jonathan Sirois, Acosta, Jamie Sabau, ” Acosta, ”, “, I’m, Patrick’s, ’, Montréal Organizations: CNN, Chicago Fire, Major League Soccer, CF Montréal, Chicago, Fire, USA, Sports, Reuters, ., Colorado Rapids Locations: Chicago, American, Windy, . Chicago

☆ Shell waters down 2030 carbon emissions target in latest fossil fuel industry backslide
▼ + stars: | 2024-03-14 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Fossil fuels are the main driver of the human-caused climate crisis, and science shows deep, sustained reductions to emissions are required this decade. In an annual update on its energy transition strategy on Thursday, Shell said it will target a 15-20% reduction in net carbon intensity of its energy products by 2030 compared with 2016 intensity levels. Measuring emissions by intensity means a company can technically increase its fossil fuel output and overall emissions while using offsets or adding renewable energy or biofuels to its product mix. The company retired a previous target to reduce its carbon intensity by 45% by 2035. Shell also maintained its target to halve emissions from its own operations, known as Scope 1 and 2 emissions, by 2030, saying it had already achieved more than 60% of that target.

Persons: Shell, Wael Sawan’s, “, ”, Backtrack, Mark van Baal, ” Shell Organizations: CNN Locations: “, Paris, Singapore, Germany

☆ A New Surge in Power Use Is Threatening U.S. Climate Goals
▼ + stars: | 2024-03-13 | by ( Brad Plumer | Nadja Popovich | ) www.nytimes.com time to read: +14 min

Nathan Howard for The New York TimesIn California, electric vehicles could soon account for 10 percent of peak power demand. AP Photo/Mike StewartIn interviews, utility executives say gas is needed to back up wind and solar power, which don’t run all the time. Gas plants can sometimes be easier to build than renewables, since they may not require new long-distance transmission lines. “It’s going to take a diversified fleet.”Mr. Mitchell noted that Georgia Power was planning a large build-out of solar power and batteries over the next decade and would offer incentives to companies to use less power during times of grid stress. The tech companies and manufacturers that are driving up electricity demand could also play a major role, experts say.

Persons: ”, Daniel Brooks, Nathan Howard, Lauren Justice, Biden’s, “, Tyler H, Norris, Mr, John Wilson, Ken Seiler, Seiler, Devin Hartman, Duke, Kendal Bowman, Duke Energy’s, it’s, we’ve, Georgia Power, It’s, Greg Buppert, Megan Varner, Mike Stewart, Aaron Mitchell, “ It’s, Mitchell, Heather O’Neill, Brian Janous Organizations: Electric Power Research Institute, The New York Times, Duke University, Biden, Utilities, North American Electric Reliability Corporation, Boston Consulting, Dominion Energy, Nationwide, R Street Institute, The New York Times Soaring, Duke Energy, Georgia, Southern Environmental Law Center, AP, Dominion, Georgia Power, Advanced Energy, Microsoft Locations: America, California, Virginia, Georgia, North Carolina, South Carolina , Tennessee, Kansas, Northern Virginia, Arizona, Texas, Illinois, New Jersey, York City, PJM, “ Texas, Ashburn, Va, Dalton , Ga, Dalton, Duke

☆ China's oil demand growth could halve from pre-Covid levels as property, auto sectors struggle
▼ + stars: | 2024-02-28 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

A view shows part of the state oil firm Petroleos Mexicanos (Pemex) refinery in Salamanca. The consultancy expects demand growth to be around 250,000 bpd to 350,000 bpd, less than half of what it was in 2019 — demand growth will not return to the million barrels per day seen between 2015 and 2020. China's oil demand growth this year could be half of pre-Covid 2019 levels, according to Eurasia Group, as key segments of the world's second-largest economy struggle from a slowdown. The incremental fuel demand growth in China that the oil industry has come to literally bank on over the past two decades is no more. China will lose its spot to India as the primary driver for global oil demand through 2030, the International Energy Agency said in a report.

Persons: Petroleos, Linda Giesecke Organizations: Eurasia Group, International Energy Agency, JPMorgan, CNBC Locations: Salamanca . State, Guanajuato, Mexico, Eurasia, China, India

☆ I'm a chef with more than 15 years of experience. Here are my 8 best tips for baking and roasting potatoes.
▼ + stars: | 2024-02-28 | by ( Alissa Fitzgerald | ) www.businessinsider.com time to read: +6 min

In general, it's pretty easy to make decent potatoes — but here are my best tips for making truly great ones. Be mindful when choosing the kind of potato you're cooking withWaxy potatoes, like red potatoes, are best boiled or sliced and roasted since they maintain their shape and texture. Buying potatoes with dirt is no big deal, but avoid green spotsWhen buying potatoes, a little dirt is totally fine. Salt potatoes to upgrade their textureLove it or hate it, salt is the key to making a lot of things taste great. Despite what many people think, cooking potatoes on a bed of salt isn't going to make them super salty.

Persons: —, Krzeminska, Guido Mieth Organizations: Service, Business

☆ Bitcoin surpasses $56,000 benchmark, uplifts crypto market in latest rally
▼ + stars: | 2024-02-27 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Bitcoin , the world's largest cryptocurrency by market cap, extended a rally in Asia trading on Tuesday, reaching a two-year high of over $56,000 and uplifting the broader crypto market amid positive market developments and buying from crypto bulls. MicroStrategy , based in Virginia, is currently the largest publicly traded owner of bitcoin. According to Greta Yuan, head of research at digital asset platform VDX, the market was "encouraged by crypto bulls such as MicroStrategy" as well as a "new record of Bitcoin ETF inflows." Most of the cryptocurrency market experienced a lift from the latest rally. Ethereum , the second-largest cryptocurrency by market cap, reached a multi-month high above $3,200.

Persons: MicroStrategy, Greta Yuan Locations: halve, Asia, CoinMarketCap, Virginia, U.S, San Francisco

☆ Glencore's 2023 earnings halve on lower commodity prices
▼ + stars: | 2024-02-21 | by ( ) www.cnbc.com time to read: +1 min

An employee stands by a logo for Glencore Agriculture in Glencore Plc's offices in Rotterdam, Netherlands. Glencore said on Wednesday lower commodity prices had halved its earnings last year, and slashed its payout to investors, as the company saves to fund the acquisition of a 77% stake in Teck Resources' metallurgical coal business. After two consecutive record years, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) halved to $17.1 billion from $34.1 billion a year earlier, in line with analysts' consensus estimates of $17.15 billion. In preliminary 2023 results, the miner and trader said net debt stood at $4.92 billion at the end of the year, from just $75 million at the end of 2022. London-listed Glencore's payout of $1.6 billion announced on Wednesday does not include a new buyback scheme, after the existing one ends this month, nor a special dividend, as the company uses its cash to fund the $6.9 billion acquisition of Canadian miner Teck's steelmaking coal unit.

Persons: Glencore Organizations: Glencore Agriculture Locations: Glencore, Rotterdam , Netherlands, Teck Resources, London

☆ Angry farmer protests are spreading across Europe — and getting results
▼ + stars: | 2024-02-12 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

But that reputation is now being firmly tested, after it toned down its climate policies following angry farmer protests that are taking place across the continent. The European Commission, the executive arm of the EU, now intends to scrap a plan to halve pesticide use. Speaking to CNBC Thursday, the EU's Agriculture Commissioner Janusz Wojciechowski said he was "happy" about the U-turns because they were not "fully fair." The EU wants to become carbon neutral by 2050. It also wants to cut greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels.

Persons: Janusz Wojciechowski, Wojciechowski, Europe's, Alberto Alemanno, Alemanno Organizations: European Commission, EU, CNBC, Paris Business School Locations: H.E.C

☆ Nuclear fusion: Scientists just set a new energy record in a step toward unleashing the limitless, clean energy source
▼ + stars: | 2024-02-08 | by ( Angela Dewan | ) edition.cnn.com time to read: +4 min

London CNN —Scientists and engineers near the English city of Oxford have set a nuclear fusion energy record, they announced Thursday, bringing the clean, futuristic power source another step closer to reality. To generate fusion energy, the team raised temperatures in the machine to 150 million degrees Celsius — around 10 times hotter than the core of the sun. An animation showing how tokamaks generate nuclear fusion energy. “Our successful demonstration of operational scenarios for future fusion machines like ITER and DEMO, validated by the new energy record, instil greater confidence in the development of fusion energy,” Fasoli said in a statement. A view of Torus Hall, where the JET tokamak machine lies.

Persons: Ambrogio Fasoli, ” Fasoli, Aneeqa Khan, Khan, ”, Copernicus Organizations: London CNN —, CNN, JET, EUROfusion, United Kingdom Atomic Energy Authority, University of Manchester Locations: Oxford, France

MADRID (AP) — Mirroring protests across Europe, thousands of farmers in Spain staged a second day of tractor demonstrations on Wednesday across the country, blocking highways to demand changes in European Union farming policies and measures to combat production cost hikes and severe drought. The protests, involving several thousand people on tractors and in other vehicles, haven't been backed by Spain´s three main farming organizations, which have called for separate protests in the coming days. Speaking in Spain's parliament on Wednesday, Prime Minister Pedro Sánchez pledged to help farmers and take their case to Europe. Agriculture Minister Luis Planas Puchades met with farmers’ unions on Friday, but failed to persuade them to halt the protests. There have been other protests in countries such as France, Poland and Greece in recent days.

Persons: Efe, Spain ´, Pedro Sánchez, Luis Planas Puchades, Hadja Lahbib, Maroš Šefčovič, Raf Casert Organizations: MADRID, Agriculture Ministry, Agriculture, European Commission, Foreign Locations: Europe, Spain, Union, Castellon, Jerez, State, Barcelona's, Spain's Catalonia, Madrid, Ukraine, France, Poland, Greece, Belgium, Brussels

☆ Spanish Farmers Blockade Roads for Second Day Against EU Policies
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

MADRID (Reuters) - Spanish farmers blocked major highways with their tractors for a second day and disrupted access to port terminals as anger spreads in Europe's countryside against high costs, bureaucracy and competition from non-EU countries. "Some countries don't respect the rules, they don't have quality controls," said Juan, who grows lemons in Andalusia, and was on a blockade in front of the access to Malaga port. Fed up by the market situation and encouraged by similar protests in other European countries, Spanish farmers took their tractors out of their barns on Tuesday, two days ahead of protests scheduled by the country's main farmers associations. Over the past few weeks, farmers in European countries including Germany, France and Belgium have held protests that sometimes turned violent. Farmers say demanding rules imposed on them by the EU to protect the environment make them less competitive than peers in other regions, such as Latin America or non-EU Europe.

Persons: Juan, Inti Landauro, Emma Pinedo, Sharon Singleton Organizations: TVE, Farmers, European Commission Locations: MADRID, Europe's, Andalusia, Malaga, Germany, France, Belgium, EU, America, EU Europe

☆ Australia PM to Introduce Bill to Reshape Tax Cuts on Tuesday
▼ + stars: | 2024-02-03 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

"We'll release the actual legislation later today it will be introduced into the parliament on Tuesday," Albanese told the Australian Broadcasting Corp. He said he wanted the bill passed "during this existing session" of federal parliament, which resumes on Feb. 6. The new policy, recently announced, will see people earning up to A$135,000 ($88,763) fall into lower tax brackets from July 1. For some high-income earners tax breaks will nearly halve, with the savings redirected to those on low incomes. Albanese flagged last month that his centre-left government would soon legislate the changes but did not specify a timeline.

Persons: Anthony Albanese, " Albanese, Albanese, Sam McKeith, David Gregorio Organizations: SYDNEY, Australia's, Australian Broadcasting Corp, Labour Locations: Sydney

☆ Malaysia Pardons Board Halves Jail Sentence of Jailed Ex-Pm Najib
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: 1 min

KUALA LUMPUR (Reuters) - A Malaysian pardons board on Friday said it has decided to halve the jail sentence of former Prime Minister Najib Razak, who was convicted of graft and money laundering related to the multibillion-dollar 1MDB scandal. Najib, who is serving a 12-year jail term, will be released in August 2028 and fines imposed on him reduced to 50 million ringgit ($10.59 million) from 210 million ringgit, the board's secretariat said in a statement. Najib was jailed for graft linked to state fund 1Malaysia Development Berhad (1MDB), from which U.S. and Malaysian investigators estimate $4.5 billion was stolen and more than $1 billion channeled to accounts linked to the former premier. ($1 = 4.7220 ringgit)(Reporting by Rozanna Latiff; Editing by Martin Petty)

Persons: Najib Razak, Najib, Rozanna Latiff, Martin Petty Organizations: Reuters, Malaysian, 1Malaysia Development Locations: KUALA LUMPUR

☆ Icon of the Seas: Why Americans Are Obsessed With Big Cruise Ships
▼ + stars: | 2024-01-25 | by ( Henry Wismayer | ) www.businessinsider.com time to read: +17 min

Love them or loathe them, giant cruise ships are among the most remarkable success stories of the mass tourism age. Rechristened the Mardi Gras, the first Carnival cruise ship sailed out of Miami that March. Cruise ships like the Icon of the Seas will spend the majority of their trip at sea. Eight years later, cruise ships such as the Diamond Princess became early incubators for COVID-19. Cruise Market Watch forecasts there will be 360 cruise ships in service at the end of this year, comprising less than 1% of the global commercial fleet.

Persons: Ted Arison, Arison, Pieter De Boer, Costa, Diamond, Aaron Saunders, We've, Sue Bryant, Z, sass, Emma Le Teace, YouTuber, David Foster Wallace, Harper's, Sarah Knorr, Bryan Comer, Karla Hart, Hart, Saunders, it's, Henry Wismayer Organizations: Port, Passengers, Mardi Gras, Mardi, Gras, Cruise, Royal Caribbean, Costa Concordia, Cruise Lines International Association, Broadway, CivicScience, Royal, Virgin, Business, Transport & Environment, Getty, International Council, Global Cruise, Global Cruise Activist Network, Cruise Market, Royal Caribbean International, New York Times, National Geographic, Financial Times Locations: Port of Miami, Caribbean, Miami, The Port, Tuscany, Italy, Royal Caribbean, TikTok, Panama, Bahamas, Brussels, Netherlands, Douarnenez, Venice, Dubrovnik, Croatia, Amsterdam, Juneau , Alaska, Skagway , Alaska, CocoCay, London

☆ Tesla plans to build new electric vehicles in mid-2025, Reuters reports
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +3 min

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTBURBANK, CALIFORNIA - JANUARY 16: Tesla electric cars are parked at a Tesla dealership on January 16, 2024 in Burbank, California. Tesla CEO Elon Musk has long whetted fans' and investors' appetites for affordable electric vehicles and self-driving robotaxis that are expected to be made on next-generation, cheaper electric car platforms. Musk had first promised to build a $25,000 car in 2020, a plan he later shelved and then revived. watch nowMusk said in May that Tesla was working on two new products, with the potential for combined sales of 5 million vehicles a year. He and other Tesla executives laid out plans last March to halve the cost of its next-generation vehicles, but did not provide a timeframe for the launches.

Persons: Mario Tama, Tesla, Elon Musk, China's BYD, Musk, Walter Isaacson's Organizations: Getty Locations: BURBANK , CALIFORNIA, Burbank , California, U.S, United States

☆ Real Madrid secures controversial 3-2 comeback victory that left opponent Almería feeling ‘robbed’
▼ + stars: | 2024-01-22 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

Then, Hernández Maeso ruled out what appeared to be a legitimate Almería goal after Bellingham went down clutching his face in agony in another VAR intervention. All three of the major VAR incidents left Almería – rock bottom of La Liga and without a win all season – feeling aggrieved at the full-time result. Isabel Infantes/Reuters“We leave with the feeling that the match was robbed today, it’s that clear,” midfielder Gonzalo Melero told reporters after the match. “The penalty, the goal with [Vinícius’] hand that makes a motion, the disallowed goal for a duel. The title race continues next weekend when Real Madrid travels to Las Palmas and Girona faces Celta Vigo.

Persons: Largie, Edgar González’s, Francisco Hernández Maeso, Kaiky Fernandes Melo, Jude Bellingham, halve, Hernández Maeso, Bellingham, Dion Lopy, Vinícius Jr, ’, Dani Carvajal, Largie Ramazani, Isabel Infantes, Gonzalo Melero, “, Carlo Ancelotti, ”, Almería, ” Vinicius, Pierre, Philippe Marcou Organizations: CNN, Real, La Liga, Reuters, ” Real Madrid, Girona, Sevilla, Real Madrid, Celta Vigo Locations: Vinícius, AFP, Las Palmas

☆ Red Sea crisis: Why escalating violence in the Middle East isn’t pushing up gas prices
▼ + stars: | 2024-01-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

The prices of a barrel of Brent crude, the global oil benchmark, and West Texas Intermediate, the US oil benchmark, have barely moved. Now, however, analysts say economic factors — weaker demand in countries such as China and Germany, ample oil and gas supply — are superseding concerns about violence in the Middle East. Al Drago/Bloomberg/Getty ImagesGlobal oil demand growth is expected to almost halve this year, the International Energy Agency said in a report Thursday. At the same time, global oil supply is forecast to hit an all-time high, driven by record output from countries including the United States and Canada, the IEA said. Nan said relatively modest demand was also helping to prevent spikes in gas prices.

Persons: Brent, “, Homayoun, “ It’s, ”, Hope, Al Drago, That’s, Falakshahi, Xi Nan, Kpler, Wood Mackenzie, Nan Organizations: London CNN, Hamas, West Texas Intermediate, AAA, CNN, National Bureau of Statistics, Bloomberg, Getty, International Energy Agency, Organization of, Petroleum, Rystad Energy, Gas Infrastructure, LNG “ Locations: Red, Iran, Pakistan, Gaza, Ukraine, China, Germany, South Africa, Washington , DC, United States, Canada, Russia, OPEC, Europe, wean, Gas Infrastructure Europe, Africa, Qatar, United Kingdom

☆ ECB's Schnabel defends smaller balance sheet as debate heats up
▼ + stars: | 2023-12-05 | by ( Balazs Koranyi | ) www.reuters.com time to read: +4 min

She said her "demand-driven" approach fitted the euro zone, whose 20 countries vary in economic strength and have separate banking systems. "A demand-driven system is well-suited for a heterogeneous currency union that may be prone to fragmentation," Schnabel said in an interview. "Such a system also likely limits the size of the central bank balance sheet." She conceded, however, that "it could make sense to have a mix of different tools", suggesting policymakers may be looking for a compromise in this complex yet crucial debate for the euro zone financial system. Loans to banks or a structural bond portfolio would come on top of this.

Persons: Isabel Schnabel, Ralph Orlowski, Schnabel, Philip Lane, Schnabel's counterargument, Francesco Canepa, Catherine Evans Organizations: Frankfurt, Banking Congress, Old Opera, REUTERS, European Central Bank, ECB, Reuters, Federal Reserve, Bank of England, Thomson Locations: Frankfurt, Germany, FRANKFURT

☆ Imagine a better climate pact than COP
▼ + stars: | 2023-12-04 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

It’s possible to imagine an alternative, better way to fight climate change. The snag is that China or the United States – which were responsible for 25% and 11% of greenhouse gases, respectively, in 2021 – would have to take the lead. All countries agreed to limit global warming to 2 degrees Celsius above pre-industrial times and to aim for 1.5 degrees. That’s the thinking behind the Just Energy Transition Partnerships that the United States and its allies have cut with Indonesia, Vietnam and South Africa. For example, Donald Trump, who as president pulled the United States out of the Paris Agreement, may return to the White House after next year’s elections.

Persons: Vladimir Putin, Xi Jinping, Donald Trump, Peter Thal Larsen, Thomas Shum Organizations: Reuters, of, UN, United, Rio Earth Summit, European, Reuters Graphics Reuters, China, African, Initiative, World Bank, Thomson Locations: Nations, Dubai, China, United States, Paris, U.S, Washington, Beijing, European Union, Japan, Canada, South Korea, United Kingdom, Russia, Russian, Xi Jinping . Washington, India, Brazil, Indonesia, African Union, Vietnam, South Africa

We need to implement food systems approaches throughout COP28," said Joao Campari, global leader of food practice at the World Wildlife Fund. Doing so could also unlock financial investment in tackling food emissions, said Saswati Bora, global director for regenerative food systems at the Nature Conservancy. TACKLING METHANEA key goal for advocates is reducing methane emissions from food sectors like livestock production and food waste. Countries should also make stronger commitments in NDCs on food waste, said Liz Goodwin, director of food loss and waste at the World Resources Institute. Food waste generates half of all global food system emissions according to a March study published in the journal Nature Food.

Persons: David Swanson, Joao Campari, NDCs, Patty Fong, Saswati Bora, Bora, John Tauzel, Tauzel, Liz Goodwin, Goodwin, Leah Douglas, Josie Kao Organizations: REUTERS, United Nations, Food, Agriculture Organization, FAO, World Wildlife Fund, Conference of, United, United Arab Emirates, Global Alliance, Nature Conservancy, COP26, Environmental Defense Fund, World Resources Institute, Thomson Locations: Corcoran , California, U.S, Dubai, COP28, United Arab, United States, India, China, Canada, NDCs

☆ Private-asset binge exposes insurance to new risks
▼ + stars: | 2023-11-30 | by ( John Foley | ) www.reuters.com time to read: +7 min

The concept is not new: Warren Buffett’s Berkshire Hathaway (BRKa.N) has used its insurance premiums to help fund everything from railways to cowboy-boot makers. The prospect of insurance companies buying risky loans or private equity investments has raised eyebrows. Many private credit assets, for example, rely on so-called private letter ratings based on confidential data. Given the private nature of private credit, it’s hard to see from the outside how big these risks are, or where they lurk. Besides, even if the share of life insurance assets that are mis-rated or undercapitalized is tiny, smaller insurers could carry more concentrated risk.

Persons: Blackstone, Warren Buffett’s Berkshire Hathaway, Fitch, Kroll, Egan, Jones, DBRS Morningstar, Banks, SVB, Jonathan Guilford, Neil Unmack, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Apollo Global Management, KKR, Global Atlantic, Investments, National Association of Insurance, England’s Everton FC, Rivals, Reuters Graphics Reuters, Federal Reserve, Federal Deposit Insurance Corp, Athene, P Global, Insurance, SVB, Thomson Locations: Global, Delaware , New York, Iowa, New York, London

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