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U.S. Public Forests Stand to Earn from Carbon Offset Projects

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forest and dirt road

A considerable number of state and local governments are now enrolling public forests in carbon offset projects that are deemed dubious. This endeavor has the potential to earn them millions of dollars but will deliver only very few new climate benefits. It will offer minimal help in the fight against climate change while the big corporations are being credited for reducing carbon emissions.

This undertaking precisely illustrates that the carbon market delivers the lowest benefits than what is projected. Initially, the intention was to use these markets as a way for corporations to cut down on their carbon footprints. But obviously, this isn’t what’s happening.

Inked Agreements

Along with five counties in Wisconsin, the whole state of Michigan has just finished inking agreements with Blue Source in Salt Lake City. These governments signed up with the carbon development firm to create an estimated 800,000 acres of projects. This is around three times more public forests than what is now generating carbon credits in the U.S. 

Later this year, up to the next, these projects are expected to start selling credits. Aside from these, at least a dozen more counties in Wisconsin and various other states are now considering following suit. Interviews with public officials and county documents can attest to this.

These agreements are anticipated to generate approximately 10 million carbon credits over the next ten years. This is equivalent to one year of pollution from a large coal power plant or the emissions from over ten million vehicles. These government agencies can get credits from these reductions in emissions and sell them to companies. These corporations, in turn, can subtract the volume of pollution from their lodgers. 

However, these claims are expected to be significantly exaggerated. For every single carbon credit, one ton of carbon dioxide is represented. These will be absorbed due to the promise of payments that cause landowners to change their practices. Public records reviewed tell us that overseers of these public forests have no plans to change the management of their trees. 

The data was gathered from records reviewed by Bloomberg Green as well as interviews with forest managers. They will then capitalize on the weak rules governing the carbon markets to gain payments for the continued forest practices they have been using for decades.

Impending Surge

The carbon industry is sure to feel the impending surge in dubious offsets, and it will be a problematic eventuality. In contrast, the offsets market has seen more than $1 billion in waves for the very first time. After a flurry of criticisms, this has cast doubts on its future. 

Last month, Bloomberg Green reported on the revelation of a U.S. timber executive that most of these offset projects are defrauding the climate. On the other hand, controversy is still very much alive in the offsets industry in Australia. It comes right after a key official described these carbon offsets as shams. 

Blue Source usually takes between 10 to 33% of a carbon offset project’s proceeds. Thus, it stands to earn millions of dollars from these newly-signed agreements. According to Joshua Strauss, Blue Source executive vice president, these projects meet the highest quality standards. 

Climate-Friendly Practices

Supposedly, public forest carbon offset projects should bring about climate-friendly practices even in the event of the absence of carbon payments. In addition, experts on carbon projects say that these have to be based on realistic situations to make the climate claims trustworthy.

County officials in Wisconsin will lock in the foregoing practices for years to come. If ever carbon prices get high enough, they can compete with timber values. This will encourage harvesting less down the road, according to Mike Peterson, Washburn County forest administrator.

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Technology

Virtual Reality Exhibit Carne Y Arena: The Refugees’ Plight

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carne y arena

In some ways, we are all familiar with the human plight of refugees and immigrants. Still, sometimes, it’s easy to turn a blind eye when we’re all preoccupied with our daily lives.

Carne y Arena, an immersive virtual reality experience about the human condition of immigrants and refugees, was available at KANEKO on Sept. 10, 2022. Kaneko collaborated with Emerson Collective, PHI Studio, and Legendary Entertainment to bring CARNE y ARENA to Nebraska after several sold-out runs in the United States and abroad. The exhibit pays tribute to the migrant’s border crossing in a way that emphasizes the value of being mindful of your surroundings and paying attention to what is happening around you.

It is the brainchild of Academy Award-winning author and director Alejandro G. Iñárritu. Carne y Arena was the first VR experience chosen as part of the festival’s Official Selection when it debuted at the 70th Festival de Cannes in 2017. 

Iárritu said that his conversations with numerous immigrants from Latin America who managed to cross the border served as the foundation for Carne y Arena. 

“During the making of this project, I had the privilege of meeting and interviewing many Mexican and Central American refugees,” Iñárritu said in an interview shared by the Nasher Sculpture Center

The director said the refugees’ life stories “haunted” him, and so he invited some of them to collaborate with him on the project. Iñárritu says he intended to experiment with VR technology to explore the human condition and, in doing so, break the dictatorship of the frame—or the perspective within which things are observed. He wanted to claim the space to allow the observer to go through a “direct experience walking in the immigrants’ feet, under their skin, and into their hearts.”

The Interactive Experience at Carne Y Arena

carne y arena virtual reality
Image Credit: Bradley Hook on Pexels

Carne y Arena is an interactive experience so that visitors can use their hands to feel the migration process and learn about critical moments that led up to that point in a migrant’s journey.

According to the Nasher Sculpture Center, the immersive experience was a 20-minute solo journey that focuses on a multi-narrative virtual reality sequence. In fact, it’s based on true accounts as reenacted by Central American and Mexican refugees. That said, the lines between subject and bystander are blurred and are bound together through the state-of-the-art immersive tech. Just as visitors walk through a vast, sand-filled space, they witness a fragment of a refugee’s personal journey.

Docubase also described the virtual experience in detail. According to their account, there were three sections available during the experience. Participants left their shoes and other things in a locker in the “detention room”. After donning a headset, headphones, and a backpack device, participants entered a sand-filled, dark, and spacious area where they experienced a 6.5-minute virtual reality scenario that took them to the Chihuahuan Desert. Participants in the VR experience joined a group of migrants escorted by a coyote across the border into the US. In a different chamber, a video art installation reflected the experiences of migrants and refugees who fled El Salvador, Honduras, Guatemala, and Mexico, making up the third part of the experience.

Throughout the run of Carne y Arena, virtual and live programming took place, with additional community partners presenting content and events related to their exhibitions and programs. The exhibit areas were designed to allow only one person at a time to move through them, limiting encounters and respecting distances safely and comfortably.

Kaneko also mentioned that the exhibit was unsuitable for minors under 13.

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What Is Tiktok Pink Sauce? The Viral Condiment, Explained

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tiktok pink sauce

TikTok’s pink sauce went viral. What’s going on? 

TikTok creator Chef Pii is the connoisseur behind a mysterious pink sauce that has exploded over the internet, resulting in discourse and memes. The narrative is as odd as the so-called sauce, and it continues to perplex internet detectives and users alike. 

What is TikTok Pink Sauce?

What is tiktok pink sauce? by Chef Pii

On June 11, Chef Pii, a Miami-based private chef and social media influencer, posted a short TikTok of herself dipping a chicken tender into a bowl of bright pink sauce. That one video garnered more than 755,000 views. That’s how the journey of a product she invented called “pink sauce” started. 

The TikTok creator released videos featuring the sauce, trying it with different foods, and showing the packaging. According to the videos, the sauce is priced at US$20. It quickly became a craze. But this is mainly because Chef Pii refused to share how the sauce tasted. She often had other reviewers taste it, but she provided cryptic answers on how it tastes. 

In late June, Chef Pii released a TikTok video addressing that concern. A day later, she revealed the ingredients, posting a graphic outlining each: dragon fruit, sunflower seed oil, honey, chili, and garlic.

Nutritional labels – and errors

Creator @sseaansvv recently raised further questions, investigating deeper the pink sauce saga. The TikTokker called “Pink Sauce Lady” for errors in her nutritional label. They also claimed that “there are not enough preservatives” within the sauce “to make shelf stable.”

Sean SVV also wrote in her second video’s caption, “I’m genuinely rooting for her to get a license, fix the errors before selling it legally.”

Another TikTokker, @annareportsnews, also posted a video the same day saying that the serving size per container is unrealistic. She also mentioned that the label doesn’t specify that the sauce should be refrigerated.

America’s Food and Drug Administration (FDA) mandates manufacturers of dressing and condiments to apply for registration. The FDA sets standards on labels, testing methodologies, manufacturing practices, and scientific protocols.

In April 2022, FDA issued the revised guidelines for nutritional fact labels on food and drink products. Serving size is among the updates for the label. However, the FDA doesn’t allow pre-market approval for food products.

A few days later, Chef Pii announced in a video that they were fixing the issues. 

She apologized for the label errors and stressed fixing the nutritional labels for all future bottles of the sauces. She also emphasized that she appreciates the support her sauce has received and that she is operating a small business and is trying to reduce the price of the sauce.

The nutritional label is also available for viewing on her site, which previously didn’t seem to be the case.

Twitter Memes About the Controversial Pink Sauce

Recently, the internet has become crazy with pink sauce. People post everything from memes to analysis, while others express the desire to try the sauce. On Twitter, “Pink Sauce” is currently trending.

Links: 

https://twitter.com/oluwatoji/status/1550049864658161664
https://twitter.com/TaylorLorenz/status/1549916891409514498

Even Netflix has posted about the sauce.

But the story does not end there. 

Chef Pii took to Instagram Live, YouTube, and TikTok to answer users’ questions. Likewise, she spoke to various media outlets, such as NBC, Washington Post, and Buzzfeed, to defend her unique product.

During her Instagram live, the chef said, “What do you mean by FDA-approved? But, I don’t sell medical products. The “Pink Sauce” isn’t a medical product and it don’t contribute to your health.”

That response stirred Twitter again, causing “F in FDA” to trend across the app.

https://twitter.com/UberFacts/status/1551748826574323712

On July 27, Chef Pii emailed all pink sauce customers about the new terms and conditions. The email addressed the Pink Sauce Supporters and said they are working to fix the issues surrounding allegations and claims against the condiment. 

Chef Pii also explained that she is now cooperating with the FDA and the Florida Department of Agriculture and Consumer Services. And she is waiting on official approval for the sauce and updating the packaging to ensure “preciseness.”

And for other stories and news, read more here at Owner’s Mag!

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Business

Merck Seagen Buyout: What to Know About the Deal

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Team talking about merck seagen buyout

Merck is currently in talks to acquire Seagen, a biotech company. The Wall Street Journal reports that the transaction is valued at $40 billion. And what happens if Merck acquires Seagen, and how would this acquisition benefit cancer research and treatment? Read more about the Merck Seagen buyout here.

Merck Seagen Buyout

Merck and Seagen are still deciding on their share prices. So far, talks have yet to reach an agreement on $200 per share. Both companies want to settle and finalize their deals before Merck announces its quarterly earnings on July 28. At the time of writing, Seagen’s stock was at $176.19.

With an estimated market value of $235 billion, Merck is looking to expand its presence in the cancer treatment space. The Merck Seagen Buyout could play a major role in that strategy. Since Seagen specializes in targeted cancer therapies, the acquisition would give Merck access to a broader range of oncology products.

Shareholder reactions to the new deal are overwhelmingly positive, and the stocks have been up since talks about the deal have been made public.

But this is not the first time that Merck and Seagen have made the news. Back in 2020, they collaborated because of cancer treatments. Seagen has a drug conjugate (ladiratuzumab vedotin) which would be used in conjunction with Merck’s Keytruda.

Merck reveals that Keytruda is its highest-selling product. It’s immunotherapy for cancer.

And this deal could help Merck offset the possibility of reduced sales because it will lose patent protection in 2028.

As promising as this deal is, there could be scrutiny from antitrust officials since there might be a litigation case from the Federal Trade Commission or Justice Department.

The Seagen buyout isn’t the only deal Merck has made recently. They’ve been busy closing another deal, but with Orion too.

Seagen

As a cancer biotech company, Seagen has therapies to ensure that patients benefit from the treatment and reduce any adverse side effects. Their treatments involve the therapy attacking tumors with toxins.

Merck partnering with Seagen isn’t a bad idea considering that Seagen made $1.4 billion in sales in 2021, most of it coming from Adcetris and Padcev (a treatment for urothelial cancers).

Merck-Orion Deal

In the middle of the Merck Seagen Buyout, Merck has recently partnered with Orion for the ODM-208 and other drugs. These drugs are related to the production of steroids. Orion found how it can combat hormone-dependent cancers and further developed this inhibitor.

Their deal includes that they should develop ODM-208 and promote it to the public together. And Orion will receive a $290 million payment from Merck.

Although they’re co-developing and marketing the new inhibitor, Orion will oversee the manufacturing side.

Co-developing the ODM-208 can help Merck with its current research and treatments for prostate cancer. President and CEO of Orion, Timo Lappalainen, says that this partnership will benefit Merck’s goals of treating cancer worldwide.

Other Ventures: Merck’s Role in the Pandemic

You may have heard about COVID-19 pills, which are a form of treatment for those diagnosed with mild to moderate COVID-19. Merck introduced an antiviral COVID-19 pill to the public. The name: Molnupiravir.

The COVID-19 pill is not a replacement for a vaccination. Instead, it stops the replication of the COVID-19 genetic code and keeps the patient out of the hospital. Not yet FDA-approved, Molnupiravir has been authorized for emergency use since December 23, 2021.

And for other stories, read more here at Owner’s Mag!

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