• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
April 28 – A survey released by the European Central Bank (ECB) on Tuesday showed that eurozone banks tightened credit access in the three months to March and expect it to continue tightening this quarter, driven by the Iranian conflict pushing up energy prices and financing costs. The ECBs quarterly bank credit survey of 21 eurozone countries showed that financing conditions began to deteriorate after the outbreak of the conflict in Iran in late February. Banks tightened their lending standards more than expected, particularly for businesses, the most significant tightening since the third quarter of 2023. The ECB stated, "A rise in risk perceptions of the economic outlook and a decline in banks risk tolerance were the main reasons, with banks noting in an open-ended question that geopolitical and energy developments put pressure on credit tightening." The bank added, "Some banks also reported additional tightening pressure related to exposure to energy-intensive businesses and the Middle East." The ECB said that banks expect credit standards to tighten "generally and more significantly" further in the three months to June.April 28 – A key European Central Bank (ECB) survey showed that eurozone consumers significantly raised their inflation expectations in March, unsettling policymakers. Inflation has risen significantly since the Iran war pushed up energy prices, and the ECB is closely monitoring whether this shock will have a second-round effect, necessitating policy tightening. The ECBs monthly consumer expectations survey, released Tuesday, showed that inflation expectations for the next year jumped to 4.0% from 2.5% a month earlier, while expectations for the next three years rose to 3.0% from 2.5%, both significantly higher than the banks 2% medium-term target. However, five-year inflation expectations rose only slightly to 2.4% from 2.3%. The survey also showed that consumers are increasingly pessimistic about overall economic growth, expecting the economy to contract by 2.1% over the next year, compared to only a 0.9% decline expected the previous month. Income expectations remained unchanged over the next year, but expectations for spending growth rose to 5.1% from 4.6%.The European Central Banks bank credit survey forecasts economic growth of -2.1% over the next year, compared to -0.9% a month ago.The European Central Banks bank credit survey showed that loan demand declined slightly in the first quarter, contrary to earlier expectations of growth.The European Central Banks bank credit survey predicts that demand for loans from businesses and households will decline in the second quarter due to weakening confidence, reduced investment, and lower spending on durable goods.

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

Haiden Holmes

Feb 27, 2023 14:08

微信截图_20230227135413.png


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.