Humans turning Earth into 'plastic planet': study

Agencies
July 22, 2017

Los Angeles, Jul 22: Humans have created 8.3 billion metric tonnes of plastics since early 1950s, and most of it now resides in landfills or the natural environment, a study has found.plasticplanet

Researchers, including those from the University of Georgia (UGA) in the US, found that by 2015, humans had generated 8.3 billion metric tonnes of plastics, 6.3 billion tonnes of which had already become waste.

Of that total waste, only 9 per cent was recycled, 12 per cent was incinerated and 79 per cent accumulated in landfills or the natural environment, researchers said.

If current trends continue, roughly 12 billion metric tonnes of plastic waste will be in landfills or the natural environment by 2050, they said.

"Most plastics do not biodegrade in any meaningful sense, so the plastic waste humans have generated could be with us for hundreds or even thousands of years," said Jenna Jambeck, associate professor of engineering at UGA.

"Our estimates underscore the need to think critically about the materials we use and our waste management practices," said Jambeck.

The scientists compiled production statistics for resins, fibres and additives from a variety of industry sources and synthesised them according to type and consuming sector.

Global production of plastics increased from 2 million metric tonnes in 1950 to over 400 million metric tonnes in 2015, according to the study published in the journal Science Advances, outgrowing most other human-made materials.

Notable exceptions are materials that are used extensively in the construction sector, such as steel and cement.

However, while steel and cement are used primarily for construction, plastics' largest market is packaging, and most of those products are used once and discarded.

"Roughly half of all the steel we make goes into construction, so it will have decades of use - plastic is the opposite," said Roland Geyer, associate professor at University of California, Santa Barbara (UCSB).

"Half of all plastics become waste after four or fewer years of use," said Geyer.

The pace of plastic production shows no signs of slowing. Of the total amount of plastics produced from 1950 to 2015, roughly half was produced in just the last 13 years.

"What we are trying to do is to create the foundation for sustainable materials management," Geyer said.

"Put simply, you can not manage what you do not measure, and so we think policy discussions will be more informed and fact based now that we have these numbers," said Geyer.

The same team of researchers led a 2015 study published in the journal Science that calculated the magnitude of plastic waste going into the ocean. They estimated that 8 million metric tonnes of plastic entered the oceans in 2010.

"There are people alive today who remember a world without plastics," Jambeck said.

"But they have become so ubiquitous that you can't go anywhere without finding plastic waste in our environment, including our oceans," said Jambeck.

The researchers cautioned that they do not seek the total removal of plastic from the marketplace, but rather a more critical examination of plastic use and its end-of-life value.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
February 17,2020

Google on Monday announced it is gradually winding down its free public Wi-Fi Station programme currently available at over 400 railway stations in India, and will work with the Indian Railways and Railtel Corporation to help them with existing sites so they can remain useful resources for people.

Google launched its Station initiative in India in 2015 to bring fast, free public Wi-Fi to over 400 of the busiest railway stations in the country by mid-2020.

"We crossed that number by June 2018 and implemented Station in thousands of other locations around the country in partnership with telecommunications companies, ISPs and local authorities," Caesar Sengupta, Vice President, Payments and Next Billion Users, Google, said in a statement.

"Over time, partners in other countries asked for Station too and we responded accordingly. We're grateful for these partnerships, especially with the Indian Railways and the Government of India, that helped us serve millions of users over the last few years," he added.

According to Google, the decision to shut Station has been taken keeping the affordable mobile data plans and mobile connectivity in mind that is improving globally including in India.

"India, specifically now has among the cheapest mobile data per GB in the world, with mobile data prices having reduced by 95 per cent in the last 5 years, as per TRAI in 2019," said Sengupta.

The Indian users consume close to 10GB of data, each month, on average, according to reports.

"Our commitment to supporting the next billion users remains stronger than ever, from continuing our efforts to make the internet work for more people and building more relevant and helpful apps and services," Sengupta noted.

Global networking giant Cisco last year teamed up with Google to roll out free, high-speed public Wi-Fi access globally, starting with India.

The first pilot under the partnership was rolled out at 35 locations in Bengaluru.

Sengupta said that in addition to the changed context, the challenge of varying technical requirements and infrastructure among our partners across countries has also made it difficult for Station to scale and be sustainable, especially for our partners.

"And when we evaluate where we can truly make an impact in the future, we see greater need and bigger opportunities in building products and features tailored to work better for the next billion user markets," he said.

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News Network
May 6,2020

Hyderabad, May 6: Away from city lights, two hours before Sunrise, people in India and across the world can witness Annual Meteor Shower called Eta Aquarids till May 28.

Observed since time immemorial, Meteor shower are commonly known as shooting stars which are nothing but dust flakes of comet/asteroid entering earth atmosphere.

This Annual Eta Aquarids Meteor Shower peaked on Wednesday at 02.30 am on Wednesday whereas presence of Full Moon was an obstacle outshining bright streaks of lights of this meteor shower zipping across the South Eastern sky.

As this meteor shower is active till May 28, people can still watch this celestial spectacle in early morning every day, Planetary Society of India (PSI) Director N Sri Raghunandan Kumar interacting with UNI said.

As per International Meteor Organization (IMO), 50 meteors per hour are expected to be seen on day of peak today. And this number would vary as days pass on till May 28 while earth passes through dust cloud of comet debris in its orbit.

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