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The SC crude oil futures contract surged 4.00% intraday, currently trading at 731.70 yuan per barrel.At the opening of the morning session, most domestic futures contracts rose. Methanol rose nearly 4%, container shipping to Europe and SC crude oil rose over 3%, fuel oil and synthetic rubber rose over 2%, and coking coal, polyvinyl chloride (PVC), benzene, caustic soda, liquefied petroleum gas (LPG), and low-sulfur fuel oil (LU) rose nearly 2%. On the downside, palladium fell nearly 3%, Shanghai gold and soybean meal fell over 1%, and rapeseed meal fell nearly 1%.On September 9th, the Wuhan Municipal Peoples Government issued a "Notice on a Series of Measures to Promote the Deep Integration of Technological Innovation and Industrial Innovation." Regarding the promotion of the private equity investment industry, the city aims to have over 1,500 registered funds by 2028, with fund management scale growing by over 20% annually, reaching a total scale of 300 billion yuan. The notice encourages various industrial sectors to inject special funds into state-owned enterprises for fund investment through a "grant-to-investment" approach. The governments share of investment in venture capital funds can be increased to over 50%, and the duration can be extended to 15-20 years. Actively managed seed funds and angel funds will be granted 80% and 60% loss tolerance rates, respectively, and direct investments by seed funds and angel funds are allowed 100% loss.On September 9th, local time, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement claiming that in response to the US militarys aggressive actions and malicious harassment of Iranian oil tankers and ships, the IRGC Aerospace Force used ballistic missiles to strike the US destroyers USS Delbert D. Black (DDG-119) and USS John Paul Jones (DDG-53), both equipped with cruise missiles and the Aegis Combat System. The IRGC stated that the attack caused serious damage to the US warships. The IRGC reiterated its firm stance against the USs desperate actions and warned the enemy against any miscalculations.On September 9th, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement early this morning (September 9th) local time, stating that in retaliation for the US aggressive attack on Iranian oil tankers, the IRGC Aerospace Force launched a fierce missile strike against US military bases in Jordan. During this ballistic missile strike, maintenance and deployment hangars and fighter bunkers for US F-35, F-16, and F-15 fighter jets were hit, inflicting heavy damage on the enemy. The statement emphasized that the Iranian armed forces vigilance and decisive fighting against the enemy are driving the aggressors into despair until their acts of aggression are completely stopped.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.