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DUBAI, Oct 9 (Reuters) - The United Arab Emirates is refashioning state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximise earnings for the Gulf state. The state-owned company also told Reuters it was investing in energy trading, without giving further details. ADNOC has two trading arms, both set up in 2020: ADNOC Trading, which is focused on crude oil, and ADNOC Global Trading, a joint venture with Italy's Eni (ENI.MI) and OMV which is more focused on refined products. Other recent hires include Bart Cornelissen, who left Deloitte to become ADNOC's senior vice president for group strategy and portfolio last month, according to LinkedIn. Recent senior hires for ADNOC's trading arms include alumni of Gunvor, Litasco, Shell and TotalEnergies, the employment network showed.
Persons: ADNOC, Galp, Austria's, Mohammed bin Zayed, headcount, Michele Fiorentino, Baker Hughes, Musabbeh Al Kaabi, Al Kaabi, Bart Cornelissen, Michael Hafner, Hafner, Morgan Stanley, Neil Quilliam, Sultan al, Jaber, John Kerry, Abu, Maha El Dahan, Yousef Saba, Ron Bousso, David Clarke Organizations: United, Abu, Abu Dhabi National Oil Company, Reuters, BP, NewMed Energy, Italy's Eni, UAE, IOC, Aramco, LinkedIn, Mubadala Energy, Deloitte, Greenhill &, Deutsche Bank, UBS, HSBC, Shell, Eni, Gunvor, The, Chatham House, United Nations, Masdar, Thomson Locations: DUBAI, United Arab Emirates, Abu Dhabi, Gulf, Saudi Arabia, Qatar, UAE, Africa, Mozambique, ADNOC, Geneva, London, The UAE, Europe, Sultan, Dubai
Residents near the outskirts of Osijek where the fire began were urged to remain indoors and keep windows shut as clouds of thick, black smoke enshrouded the area. Schools were closed and there were unconfirmed reports the smoke was moving towards Bosnia in the south. Ivan Anušić, governor of the Osijek-Baranja region, accused the owners of the depot, Drava International, which makes plastics, of neglect and violations of law. "This has created an ecological disaster which will hit the whole region, and some neighbouring (regions) as well." [1/5]A firefighter stands near the fire at Drava International factory near Osijek, Croatia, October 4, 2023.
Persons: Ivan Anušić, Anusic, Antonio Bronic, Dragan Vulin, Zeljko, Daria Sito, Bernadette Baum Organizations: Residents, Drava, REUTERS, Reuters Television, Thomson Locations: OSIJEK, Croatia, Croatian, Osijek, Bosnia, Baranja, Drava's
All that single-use plastic and Styrofoam, especially for cold packaging, is contributing to greenhouse gas emissions and consequently climate change. Now, companies like TemperPack, Green Cell and a California-based startup called Cruz Foam are making more recyclable and biodegradable packaging. Cruz Foam is using shrimp shells in its packaging. And Cruz Foam doesn't make the packages, rather it provides packagers with the material. Cruz Foam has several products, from cold packaging for foods to protective wrap to substitute for bubble wrap.
Persons: John Felts, Dan Fishman, Cruz Organizations: Green Cell, Cruz, Whirlpool, One Ventures Locations: California, Helena
These stocks are key to improving plastic recycling
  + stars: | 2023-09-29 | by ( Alex Harring | ) www.cnbc.com   time to read: +6 min
"Advanced recycling has immense potential to transform the plastic waste crisis," she said in a recent note to clients. It is a "silver bullet" for recycling plastic waste that can't be processed using traditional methods, she said. Ogundiya said investors have been warded off the theme by what she views as unfounded arguments around the maturity of advanced recycling technology. The idea has also been raised that there's an insufficient need for advanced recycling if plastic is banned. Of the two analysts surveyed by LSEG, one has a buy rating and one has a strong buy rating on Loop.
Persons: Katherine Ogundiya, Ogundiya, recyclers, LSEG, Maire Tecnimont, Eastman, — CNBC's Michael Bloom Organizations: Barclays, American Chemical Society, McKinsey, Companies, Veolia, Waste Management, Republic Services, Cleanaway Waste, LSEG ., LSEG . Republic Services, Wall, Exxon Mobil, Clean Technologies, Industries, LSEG, Eastman, Kodak Locations: U.S, Alba, LSEG, LSEG . Republic, South Korea, France
A German startup hoping to help put an end to plastic pollution has just raised 36.6 million euro (around $38.9 million) in a mixture of equity and debt. Hamburg-based Traceless, founded in 2020, has developed a plant-based biomaterial using agricultural waste to replace plastics. The startup material uses the existing natural polymers that are in its raw material, which requires up to 80% less energy to process compared to conventional plastics, Lamp said. Traceless produces its material as small pellets to provide to product manufacturers, which then mould it to their needs. The startup hopes to have replaced 1 million tonnes of plastic by 2030.
Persons: Anne Lamp, compostable, Traceless, Joanna Baare, Baare, Hamburger Sparkasse Organizations: UB Forest Industry, Growth, SWEN Capital Partners, GLS Bank, Planet A Ventures, Tech Locations: Hamburg, Antarctica
COPENHAGEN, Denmark (AP) — Denmark's Lego said on Monday that it remains committed to its quest to find sustainable materials to reduce carbon emissions, even after an experiment by the world's largest toymaker to use recycled bottles did not work. It had invested “more than $1.2 billion in sustainability initiatives” as part of efforts to transition to more sustainable materials and reduce our carbon emissions by 37% by 2032, Lego said. “We believe that in the long-term this will encourage increased production of more sustainable raw materials, such as recycled oils, and help support our transition to sustainable materials,” it said. Lego was founded in 1932 by Ole Kirk Kristiansen. The name derived from the two Danish words, leg and godt, which together mean “play well.” The brand name was created unaware that lego in Latin means “I assemble.”
Persons: Ole Kirk Kristiansen, Locations: COPENHAGEN, Denmark
[1/2] Sets of Lego bricks are seen at a toy store in Bonn, Germany, September 5, 2017. It's just not been possible to find a material like that," Lego Chief Executive Niels Christiansen told the Financial Times. Lego had earlier pledged to replace oil-based plastic bricks with ones made from sustainable materials by the end of the decade. The company had kicked off efforts in 2020 to replace its plastic bricks by sustainable materials. The difficulty was to find a material that would be environment friendly but give the same color, shine and sound of an oil-based plastic bricks.
Persons: Wolfgang Rattay, Niels Christiansen, Shubhendu Deshmukh, Lisa Shumaker Organizations: REUTERS, Financial Times, Lego, Reuters, Thomson Locations: Bonn, Germany, Bengaluru
Eric McAskill bought an abandoned house, or akiya, in the rural Japanese countryside for $23,600. Eric McAskill and his wife, together with their two children. Over the next decade, he would find himself visiting Japan again and again, each time visiting a different prefecture. McAskill bought his akiya through an akiya bank, which is a database maintained by the local municipalities for abandoned or vacant houses. "The first person to bid starts to enter into negotiations with the owner," McAskill said of the bidding process in Japan.
Persons: Eric McAskill, Eric McAskill's, , McAskill, let's, Eric McAskill McAskill, Eric McAskill McAskill's, I'm, haven't, It's, I've, he's Organizations: Service, IKEA Locations: Wall, Silicon, Japan, Bali, Nagano Prefecture, Vancouver, Canada, Abashiri, Hokkaido, Yonaguni, Taiwan, Indonesian
Michael Bloomberg is many things: former New York City mayor, founder of a financial data company, failed presidential candidate and the 11th richest man in the world. Since leaving public office 10 years ago, Mr. Bloomberg, 81, has also emerged as perhaps the world’s single largest funder of climate activism, making himself an expensive thorn in the side of the fossil fuel industry. The former mayor says that so far he has spent $500 million in an effort to shut down coal and gas plants. This month he said he planned to spend another $500 million on the effort. Now he is going after a more challenging target: new petrochemical plants that make fertilizer, plastics and packaging.
Persons: Michael Bloomberg Organizations: New York City, Bloomberg, Sierra Club Locations: New York
It follows Russia's invasion of Ukraine and the loss of Moscow's cheap natural gas — an unprecedented shock to Germany’s energy-intensive industries, long the manufacturing powerhouse of Europe. The loss of cheap Russian natural gas needed to power factories “painfully damaged the business model of the German economy,” Kullmann told The Associated Press. One hotly debated solution: a government-funded cap on industrial electricity prices to get the economy through the renewable energy transition. However, squabbling among the coalition government over the energy price cap and a law barring new gas furnaces has exasperated business leaders. “The perception of Germany's underlying strength may also have contributed to the misguided decisions to exit nuclear energy, ban fracking for natural gas and bet on ample natural gas supplies from Russia,” he said.
Persons: , Christian Kullmann, Kullmann, ” Kullmann, Evonik, Robert Habeck, Chancellor Olaf Scholz, Angela Merkel, , Biden, Scholz, Evonik's Kullmann, Gerhard Schroeder, Holger Schmieding, , ” Schmieding, Schmieding Organizations: Jobs, International Monetary Fund, European Union, Evonik Industries, Associated Press, Greens Party, Social Democrat, Free Democrats, Companies, Schott AG, Locations: ESSEN, Germany, Ukraine, Europe, Europe's, Essen, Russia, Moscow, China, Bavarian, U.S, Lafayette , Indiana, Brussels, Berlin, Chile, Qatar, ” Germany, Berenberg
Just as noteworthy as what they're carrying is what they are not: the disposable Starbucks cup, an icon in a world where the word is overused. Political Cartoons View All 1160 ImagesNow, in an era where concern for sustainability can be good business, the Starbucks disposable cup may be on its way to extinction thanks to an unlikely force: Starbucks itself. At the store where Patton gets her coffee, Starbucks already doesn't serve any in disposable paper or plastic cups. That pushes the limits of what can be done with recycled paper material that holds hot liquids. Since the reintroduction of reusable cups in some stores in July 2021 — reusable cups were not used during much of the COVID-19 pandemic — only 1.2% of worldwide sales in fiscal year 2022 came from reusables.
Persons: — Bethany Patton, Patton, , that's, Michael Kobori, It’s, Erin Simon, Simon, Jon Solorzano, ” Solorzano, “ I’ll, Irene Linayao, Aria, Tyler Eglen, Jane Tsilas, Kyle Walker, Valencia Villanueva, it's, , Peter Prengaman, Manuel Valdes Organizations: Arizona State University ., Starbucks, Wildlife Fund, Arizona State, Starbucks —, AS, Valencia, Associated Press, AP Locations: TEMPE, Ariz, United States, Los Angeles, Europe, Germany, San Francisco, San Diego, Seattle, Arizona, reusables
Just as noteworthy as what they're carrying is what they are not: the disposable Starbucks cup, an icon in a world where the word is overused. ASU implemented a "borrow and return" plan that has users dump reusable cups in a bin outside the store. AP Photo/Ross D. FranklinNow, in an era where concern for sustainability can be good business, the Starbucks disposable cup may be on its way to extinction thanks to an unlikely force: Starbucks itself. Currently, ASU students can bring their own reusable cups or are given a reusable cup to wash and return. Since the reintroduction of reusable cups in some stores in July 2021 — reusable cups were not used during much of the COVID-19 pandemic — only 1.2% of worldwide sales in fiscal year 2022 came from reusables.
Persons: — Bethany Patton, Patton, Ross D, Franklin, that's, Michael Kobori, Lindsey Wasson, Erin Simon, Simon, Jon Solorzano, Solorzano, Irene Linayao, Aria, Tyler Eglen, Jane Tsilas, Walker, Kyle Walker, Franklin Valencia Villanueva, it's Organizations: Starbucks, Service, ASU, AP, Arizona State University ., Wildlife Fund, Arizona State, Starbucks —, Franklin Locations: TEMPE, Ariz, United States, Los Angeles, Europe, Germany, San Francisco, San Diego, Seattle, Arizona, reusables, Villanueva
Hundreds of shops gutted in market fire in Bangladesh
  + stars: | 2023-09-14 | by ( ) www.reuters.com   time to read: +1 min
DHAKA, Sept 14 (Reuters) - A huge fire gutted several hundreds shops at a market in Bangladesh’s capital Dhaka, but there were no casualties as the blaze swept through the area in the early hours of Thursday, before stores opened. It took six hours for military forces and firefighters to contain the blaze, which spread quickly in the Mohammadpur market due to the large amount of flammable items such as cooking oil and plastics, officials said. Fire service official Shahjahan Sikder said there were no casualties in the fire, which was likely caused by an electric short circuit. [1/5]Firefighters work after a fire broke out at the Mohammadpur Krishi Market in, Dhaka, Bangladesh September 14, 2023, in this picture obtained from social media. In April, a fire in a shopping complex in Dhaka injured several firefighters and burned down some 5,000 stores.
Persons: Shahjahan Sikder, Ruma Paul, Miral Organizations: Firefighters, REUTERS Acquire, Thomson Locations: DHAKA, Dhaka, Bangladesh
UBQ Materials raises $70 million in private funding round
  + stars: | 2023-09-13 | by ( ) www.reuters.com   time to read: +1 min
JERUSALEM, Sept 13 (Reuters) - Israel's UBQ Materials, which converts household waste into thermoplastic material, said on Wednesday it raised $70 million in a private funding round led by Eden Global Partners. Existing investors in the company, including TPG Rise Climate, TPG’s Rise Fund, Battery Ventures, and M&G’s Catalyst strategy, also participated in the funding round. UBQ said the funds will be used for its global expansion, such as additional facilities in Europe and North America, alongside the soon to open facility in Bergen Op Zoom, Netherlands. UBQ noted that its bio-based thermoplastic that is made from residual waste serves as a sustainable alternative to fossil-based plastics. UBQ converts residual household waste diverted from landfills or incineration, including all organics, into an thermoplastic material that is both climate-positive and highly recyclable.
Persons: UBQ, Steven Scheer Organizations: Eden Global Partners, TPG, Battery Ventures, Mercedes, Benz, PepsiCo, Thomson Locations: Europe, North America, Bergen, Netherlands
But overfishing has left some fish stocks depleted, while destructive fishing practices like dredging have harmed ecosystems . Ocean tech has the additional challenge of "dealing with this chemically rich liquid that basically eats everything that goes into it," Watson said of the ocean. Blue Ocean Gear's data-collecting buoy. Blue Ocean GearFishing for fundingBut Falconer is competing with buzzy tech sectors in the pursuit of venture capital. Without cash flowing in, fishing tech could face a brain drain.
Persons: Daniel Watson's, SafetyNet, Daniel Watson Dan, Eric Li, James Dyson, Enki, Watson, Ed Phillips, Phillips, Dado Ruvic, Kortney Opshaug, Opshaug, it's, Ava Ocean, Maren Hjorth Bauer, Ava Ocean's, Hjorth Bauer, Ian Falconer, I'm, Falconer, haven't Organizations: Venture, Service, SafetyNet Technologies, European Union, Future Planet Capital, Aquaculture, REUTERS, NASA, Ocean, Investors, multibillion, Strategic Locations: London, Dubrovnik, Croatia, Bering, Cornwall
The logo of German chemicals maker Covestro is pictured outside its headquarters in Leverkusen, Germany, July 26, 2019. The sign of change from Covestro's previous stance comes after two top-15 investors of the plastics and chemicals maker told Reuters last month that it should engage in formal takeover talks in the interest of its shareholders. The German group's shares were up 8.6% at 51.96 euros at 1445 GMT, their highest level in about 18 months. In August, ADNOC indicated to Covestro, which has not commented on the takeover approach, that it could raise its informal offer to 60 euros conditional on the German company entering formal talks, Reuters reported at the time. That non-binding offer would value Covestro, a maker of chemicals used in insulation, upholstery foams, coatings and transparent engineering plastics, at about 11.6 billion euros ($12.4 billion).
Persons: Wolfgang Rattay, Abu, ADNOC, Ludwig Burger, Urvi, Elisa Martinuzzi, Jason Neely Organizations: REUTERS, Abu Dhabi National Oil Company, Reuters, Covestro, BASF, Bloomberg News, Thomson Locations: Leverkusen, Germany, Abu Dhabi, Frankfurt, Bengaluru
Lobsters have long been a staple of the Maine economy, worth roughly $388 million last year alone, but climate change is putting the catch at risk. Now lobstermen and women, along with local entrepreneurs, are turning to a new and potentially even more lucrative staple: Seaweed. Seaweed is also a natural carbon sink, helping the ocean to absorb excess carbon dioxide from the atmosphere. Aquaculture in general, and seaweed in particular, is an essential economic driver for the state of Maine. Atlantic Sea Farms works with 27 lobstermen up and down the coast.
Persons: Bri Warner, Warner, Gamble Organizations: Toyota, Procter, Gamble, Gillette, CNBC, Kroger Locations: Maine, The, Portland , Maine
Many of us (myself included) raise an eyebrow at Burning Man. Burning Man would feel much less annoying if the festival just said, yeah, we’re a bunch of idiots who want to party in Mad Max costumes. The Burning Man organizers wrote in a statement: “Burning Man is a community of people who are prepared to support one another. One hopes that events like the flooding at Burning Man will be galvanizing, both for those who experienced it and those who watched in horror from afar. It’s easy to sniff at Burning Man, which seems at once so self-important and so very insubstantial.
Persons: Jill Filipovic, ” Jill Filipovic, Max, Jerry Allen, , Organizations: Twitter, CNN, Labor, San Francisco, Survivor, Facebook Locations: New York, Nevada, California, Utah, Pershing County , Nevada, Reno, playa,
Under the changes passed so far, the government and ministers are now exempt from judicial oversight based on the so-called "reasonableness clause". The prime minister's office and ministries involved in the inquiry said they were not responsible. The 15-judge Supreme Court will hear an appeal on Sept. 12 against this amendment. It was launched before the judicial overhaul and sought a ruling based on the application of the reasonableness clause. The prime minister's office and environmental protection minister's office declined to comment for this article.
Persons: Ari Rabinovitch JERUSALEM, Amit Bracha, Adam Teva V'Din, Benjamin Netanyahu, Barry Levenfeld, Arnon Tadmor Levy, ATD, Netanyahu, Aryeh Deri, Silman, Netanyahu's, Lahav, Ari Rabinovitch, Edmund Blair Organizations: Tel, Israel Union, Environmental Defense, Supreme, Likud Locations: Tel Aviv, Herzliya
The India-led International Solar Alliance launched the Green Hydrogen Innovation Centre earlier this year, and India itself approved $2.3 billion for the production, use and export of green hydrogen. Global cooperation on green hydrogen manufacturing and supply is expected to be discussed by G-20 leaders at this week's summit in New Delhi. WHAT IS GREEN HYDROGEN? Boshell said just replacing this so-called gray hydrogen — hydrogen produced from fossil fuels — would ensure a long-term market for green hydrogen. And then we can add additional demand and applications of green hydrogen as a fuel for industries, shipping and aviation,” he said.
Persons: Francisco Boshell, Robert Howarth, Boshell, Organizations: Solar Alliance, Hydrogen Innovation, International Renewable Energy Agency, Energy, Commission, Cornell University, Action, International Energy Agency, AP Locations: BENGALURU, India, New Delhi, Abu Dhabi, Ithaca , New York
WASHINGTON (AP) — The government is worried about the safety of chemical facilities across the country after its power to keep dangerous substances out of the hands of extremists lapsed a month ago. Homeland Security officials say this left gaping holes in the country's national security, and they are calling on Congress to act quickly when it returns this week. The Cybersecurity & Infrastructure Security Agency, which falls under DHS, then determines whether the facility is considered high risk and therefore must develop a security plan. Congress gave the department the authority to begin the chemical security program in 2006, and it went into effect the following year. Homeland Security officials say the program's lapse has left them without a vital security tool.
Persons: Alejandro Mayorkas, , Kelly Murray, Sen, Rand Paul, Paul, ” Paul, there's, Murray, she's, reauthorized, they're, Matt Fridley, “ They’re, Scott Jensen Organizations: WASHINGTON, Department of Homeland Security, Chemical, Homeland Security, Homeland, Chemical Security, Infrastructure Security Agency, DHS, Congress, Kentucky Republican, & Infrastructure Security Agency, American Chemistry Council Locations: Virginia, Kentucky
Can Plastic Recycling Ever Really Work?
  + stars: | 2023-09-01 | by ( Susan Shain | More About Susan Shain | ) www.nytimes.com   time to read: +2 min
The decision to revert the designation came after the Recycling Partnership, another industry-funded group, gave $6.7 million to recycling facilities to expand their acceptance and sorting of polypropylene.The group now estimates that more than half of recycling facilities in the United States accept and sort the material. Paul Nowak, the executive director of How2Recycle’s parent organization, sees this as a success story. The Environmental Protection Agency estimates that just 2.7 percent of polypropylene containers and packaging was reprocessed in 2018. While Keefe Harrison, chief executive of the Recycling Partnership, acknowledges that little polypropylene is being turned into new material right now, she argues that more investment in sorting and reprocessing facilities would improve the chances. Polypropylene recycling is at a “tipping point,” she said, noting that Oregon is considering including polypropylene on a forthcoming list of recyclable materials that municipalities are required to collect, sort and sell.
Persons: Paul Nowak, , Dell, Keefe Harrison, Matt Seaholm Organizations: Recycling Partnership, Environmental Protection Agency, Partnership, Recycling, Plastics Industry Association Locations: United States, Oregon
REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Aug 31 (Reuters) - Japan's factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy. Industrial output fell 2.0% in July from the previous month, data from the Ministry of Economy, Trade and Industry (METI) showed on Thursday. Output of electronic parts and devices fell 5.1%, while that of production machinery decreased 4.8%, driving the overall decline. Among production machinery, output for semiconductor manufacturing equipment fell by 16.4%. Other data showed Japanese retail sales expanded 6.8% in July from a year earlier.
Persons: Issei Kato, Masato Koike, Satoshi Sugiyama, Kantaro Komiya, Chang, Ran Kim, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Rights, Ministry, Economy, Trade, Industry, Toyota, Honda, Manufacturers, Sompo, Thomson Locations: Kawasaki, Japan, China
Burning Man began on Sunday — and some of the attendees were met with protests. Climate and anti-capitalist activists created blockades to hold up traffic at the festivalThe use of private jets by rich attendees and single-use plastics motivated the protests. AdvertisementAdvertisement"The blockade is also in protest against the popularization of Burning Man among affluent people who do not live the stated values of Burning Man, resulting in the commodification of the event," Seven Circles said. Burning Man Project, the group behind the festival, promotes leaving no trace on the environment, gifting and collaborating instead of buying, and decommodification in its 10 principles. The Burning Man Project did not immediately respond back to a request for comment from Insider.
Persons: , dawDjxhV4y, michelle lh, Mun Chung, Elon Musk, Jeff Bezos, Elizabeth Holmes, splurge Organizations: bros, Guardian, Silicon, Amazon Locations: Nevada's
Courtesy Michael A. SamwayThe Tallinn-born competitor moved to the US in 2011 and, as she tired of only competing in breaststroke, started doing triathlons and then tried open water swimming. After seeing first-hand the scale of water pollution, Liivand was determined to take on a fight tougher than any competitor. The Jamaican sprint icon recognized Liivand for her open-water swimming exploits and mermaid school but confused the two. “It was like, here we are, testing waters, but we still don’t address that open water sport is in real danger because of pollution,” she said. Marco Bello/ReutersIn a grueling 14-hour swim, at times, Liivand will have to swim against the current.
Persons: Merle Liivand, ” Liivand, Liivand, ‘ Merle, , , Michael, “ It’s, ’ ”, Mario Tama, microplastics, Usain Bolt, Marco Bello, ’ Liivand, “ I’m, I’m, Richard Branson, Liivand’s Organizations: CNN, Guinness, CNN Sport, Federal University of Rio, Rio, UNESCO, Environmental International, Records, Reuters Locations: Estonian, Biscayne Bay , Miami, California, Florida, Tallinn, Guanabara Bay, Federal University of Rio de Janeiro, Leblon, Jamaica, Biscayne, Los Angeles, Miami, Paris ’
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