 |
|
|
|||||
Nations kicked off a meeting on Tuesday to try to complete a landmark treaty aimed at ending the plastic pollution crisis that affects every ecosystem and person on the planet.It’s the sixth time negotiators are meeting and they hope the last. A key split is whether the treaty should require cutting plastic production, with powerful oil-producing nations opposed; most plastic is made from fossil fuels. They say redesign, recycling and reuse can solve the problem, while other countries and some major companies say that’s not enough.Luis Vayas Valdivieso, the chair of the negotiating committee that aims to develop a legally binding instrument on plastic pollution, said: “We are pretty sure nobody wants plastic pollution. Still, we have not been able to find a systematic and an effective way to stop it.” An opportunity to ‘ end plastic pollution’ Valdivieso believes the 10-day gathering in Geneva can be groundbreaking.“For the first time in history, the world is within our reach of a legally binding international instrument to end plastic pollution,” said Valdivieso, who is also Ecuador’s ambassador to Britain. “We are facing a global crisis. Plastic pollution is damaging ecosystems, polluting our oceans and rivers, threatening biodiversity, harming human health and unfairly impacting the most vulnerable. The urgency is real.” Only a treaty can mobilize the necessary global action, said Angelique Pouponneau, lead ocean negotiator for 39 small island and low-lying coastal developing states. At home in the Seychelles, Pouponneau said, plastic contaminates the fish they eat, piles up on beaches and chokes the ocean to undermine tourism and their way of life.“It’s the world’s final opportunity to get this done and to get it done right,” she said. “It would be a tragedy if we didn’t live up to our mandate.”United Nations Environment Programme Executive Director Inger Andersen said the issues are complex, but the crisis is “really spiraling” and there’s a narrow pathway to a treaty. She said many countries agree on redesigning plastic products to be recycled and improving waste management, for example.“We need to get a solution to this problem. Everybody wants it. I’ve yet to meet somebody who is in favor of plastic pollution,” Andersen said.Between 19 million and 23 million tons of plastic waste leak into aquatic ecosystems annually, which could jump 50% by 2040 without urgent action, according to the UN. Sharp disagreements on whether to limit plastic production In March 2022, 175 nations agreed to make the first legally binding treaty on plastics pollution by the end of 2024. It was to address the full life cycle of plastic, including production, design and disposal.Talks last year in South Korea were supposed to be the final round, but they adjourned in December at an impasse over cutting production. Every year, the world makes more than 400 million tons of new plastic, and that could grow by about 70% by 2040 without policy changes.About 100 countries want to limit production as well as tackle cleanup and recycling. Many have said it’s essential to address toxic chemicals.Panama led an effort in South Korea to address production in the treaty. Negotiator Debbra Cisneros said they’ll do so again in Geneva because they strongly believe in addressing pollution at the source, not just through downstream measures like waste management.“If we shy away from that ambition now, we risk adopting an agreement that is politically convenient, but environmentally speaking, is ineffective,” she said.About 300 businesses that are members of the Business Coalition for a Global Plastics Treaty companies such as Walmart, the Coca-Cola Company, PepsiCo, and L’Oréal support reducing production along with increasing recycling and reuse. The coalition includes major food and beverage companies and retailers who want an effective, binding treaty with global rules to spare them the headaches of differing approaches in different countries.Some plastic-producing and oil and gas countries firmly oppose production limits. Saudi Arabia, the world’s largest exporter of one common type of plastic, has led that group in asserting there should be no problem producing plastic if the world addresses plastic pollution. US position on the treaty The U.S. doesn’t support global production caps or bans on certain plastic products or chemical additives to them.The State Department says it supports provisions to improve waste collection and management, improve product design and drive recycling, reuse and other efforts to cut the plastic dumped into the environment.“If the negotiations are to succeed, the agreement must be aimed at protecting the environment from plastic pollution, and the agreement should recognize the importance plastics play in our economies,” the State Department said in a statement to The Associated Press.That’s similar to the views of the plastics industry, which says that a production cap could have unintended consequences, such as raising the cost of plastics, and that chemicals are best regulated elsewhere.China, the United States and Germany lead the global plastics trade by exports and imports, according to the Plastics Industry Association. How high will negotiators aim? For any proposal to make it into the treaty, every nation must agree. Some countries want to change the process so decisions may be made by a vote if necessary. India, Saudi Arabia, Iran, Kuwait and others have opposed that, arguing that consensus is vital to an effective treaty.Negotiators are discussing making some provisions opt-in or opt-out to avoid a stalemate. Bjorn Beeler, international coordinator for the International Pollutants Elimination Network, said that would mean a treaty without teeth or obligations, with little value. Cisneros said that if carefully crafted, it’s an option to find some common ground.Tracey Campbell, an executive vice president at the plastics and chemicals company LyondellBasell and vice chair of the executive committee of the World Plastics Council, said she’ll ask negotiators to “find a way to agree on a few things and get started” and then build from there.She suggested tackling things like product redesign, recycled content mandates and financing waste collection, waste sorting and recycling technologies.In contrast, Greenpeace will be in Genevacalling for at least a 75% reduction in plastic production by 2040.“We will never recycle our way out of this problem,” said Graham Forbes, who leads the Greenpeace delegation. Thousands of people participating Delegates from most countries, the plastics industry and businesses that use plastics, environmentalists, scientists, Indigenous leaders and communities affected by plastic pollution are in Geneva. About 80 government ministers are attending talks that will last 10 days the longest session yet, with adjournment scheduled for Aug. 14.Frankie Orona, executive director of the Texas-based Society of Native Nations, has been to every negotiating session. Indigenous land, water and air are being contaminated as fossil fuels are extracted and plastic is manufactured using hazardous chemicals, said Orona.“We feel we absolutely have to be present to let them know, and see, who are the people that are really being impacted by the plastics crisis,” he said. The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org. Jennifer McDermott, Associated Press
Category:
E-Commerce
Shares of Palantir Technologies (Nasdaq: PLTR) are surging to new highs after the company reported better-than-expected Q2 2025 results. During the quarter, the AI software company saw its revenues surge nearly 50% and surpass more than a billion dollarsthe companys first quarterly 10-figure haul in its history. Heres what you need to know. What did Palantir report for Q2? Yesterday, Palantir reported its Q2 2025 earnings after the closing bell. The companys quarterly earnings were phenomenal, according to CEO Alex Karp. The headline result of the quarter is the billion-dollar revenue intake. Total revenue for the quarter reached $1.004 billion. Thats just $4 million over the psychologically important 10-figure line. Palantir achieved that number by growing its revenue 48% year-over-year and 14% quarter-over-quarter. U.S revenue was a big driver of the companys financial intake for the quarter. The companys stateside revenue grew 68% year-over-year and 17% quarter-over-quarter to $733 million. That number includes 14% quarterly revenue growth from U.S. government sources, totaling $426 million. U.S. revenue from commercial sources was up 20% for the quarter to $306 million. As noted by CNBC, Palantir exceeded its two most important metrics, based on LSEG estimates. The companys total earnings per share (EPS) for the quarter were 16 cents (adjusted). Analysts had been expecting 14 cents per share. Palantirs revenue haul of $1.004 billion also easily exceeded its expected quarterly revenue of $940 million. The companys Q2 revenue was, in large part, helped by its government contracts. Palantir has benefited from the Trump administration’s push to overhaul and streamline government operations, which include mass layoffs. The work done by some of those who were laid off will be offloaded to AI and other software systems, which Palantir and other companies are in the business of providing. Looking ahead to its Q3, Palantir forecasts another billion-dollar quarter. It says it expects Q3 2025 revenues to come in between $1.083 billion and $1.087 billion. Good news for investors. What about employees? Judging from the way PLTR stock is rising in premarket trading this morning, investors are clearly cheering Palantirs results. But the companys employees may not be. After the companys Q2 results were announced, Palantir CEO Alex Karp was interviewed by CNBC about the companys AI software offerings and revenue results. During that interview, Karp told interviewer Morgan Brennan that workforce reductions are on the table thanks to efficiencies driven by artificial intelligence.. Were planning to grow our revenue . . . while decreasing our number of people, Karp said. This is a crazy, efficient revolution. The goal is to get 10x revenue and have 3,600 people. We have now 4,100. But as noted by CNBC, Karp did not reveal how the company would shrink its workforce from 4,100 to 3,600. Besides layoffs, companies have other options to reduce their workforce, such as freezing hiring and not replacing workers who voluntarily leave their roles. The good and the bad of PLTR stock After Palantir reported its Q2 results, the companys stock jumped. As of the time of this writing, during premarket trading this morning, PLTR stock is currently trading up over 6.1% to $170.53. That means that PLTR stock is currently trading at an all-time high. As of yesterdays closing share price of $160.66, PLTR has seen its price rise by more than 112% since the year began. And over the past 12 months, PLTR shares have surged more than 549%. However, it’s worth pointing out that some investors, while buoyed by Palantirs recent gains, may also have reservations about its lofty stock price. At its current stock price, PLTR shares have a price-to-earnings (P/E) ratio of 730.27. A triple-digit P/E ratio means that a stock’s price is currently far outstripping its earnings. Few major tech companies have a P/E ratio in the triple digits, although their are some notable exceptions. Tesla, for example, has a P/E ratio of 185. If future earnings dont continue to match the rising price of the stock, shares could pull back. Other tech companies have P/E ratios that most investors find more acceptable. This includes Microsoft (P/E of 38), Nvidia (56), Apple (30), Amazon (32), Alphabet/Google (20), and Meta (28).
Category:
E-Commerce
Back in June, Tools for Humanitya startup cofounded by OpenAI CEO Sam Altmanlaunched its first U.S. brand campaign for World, an identity and financial network that includes a cryptocurrency called Worldcoin and an unprecedented piece of hardware: the Orb. The volleyball-size spherical device uses a retina scan to authenticate users as human, and then provides a digital verification code. World is also opening brick-and-mortar locations for the Orb in six U.S. cities: Austin, Nashville, San Francisco, Los Angeles, Miami, and Atlanta. So far, World has more than 27 million participants and nearly 13 million verified humans across more than 20 countries. Its goal is to verify 50 million people by the end of 2025, and eventually to sign up every human being on the planet. The company hopes the biometric verification code it creates will essentially be our digital passport, to ward against fake AI-driven content, and utilized for everything from online banking to dating apps. Altman told Time, If this really works, its like a fundamental piece of infrastructure for the world. However, before that, we all need to be convinced to use it. The consumer brands of the new AI era are already emerging. We have Anthropics Claude, OpenAIs ChatGPT, Googles Gemini, Microsofts Copilot, DeepSeek, and more. The tools and promise of our AI future are both exciting and terrifying, which is an incredibly thin tightrope for any marketer to walk. In this episode of Brand New World, Im talking to John Patroulis, chief marketing officer at Tools for Humanitythe guy tasked with convincing us all to get human verified by the World platform. On why he joined Tools for Humanity in 2022: It was the sincerity of the ambition that really drew me to it. The world was going to change, artificial intelligence was going to become increasingly powerful, and it was going to be disruptive in many wonderful ways, but also create new challenges. And this was going to be an absolutely critical thing to have to ensure human beings remain central and benefit from all of those changes. On making World a local brand: This is an open-source protocol, and this is an open-source brand. So I really believe the brand needs to be built from the ground up in the communities that it exists in. So when we’re in Argentina, yes the insight needs to be human and universal, but it needs to look and feel Argentinian. On why World’s brand vibe has been using fun over futurism: My feeling is that we need a sense of lightness and what is right for a human brandthat the real human network reflects humanity. And I think human beings are funny, they’re confusing, they’re silly. They can be sincere. But it allows for a range of emotion. But the tone needs to continue to feel relatable. The tone through all of [the brand work] is human and relatable.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||