Chinese fashion giant SHEIN plans to hit U.S. market in 2024
Fasten your seatbelts! Powerhouse platform Shein filed confidential paperwork to go public in the U.S., potentially as the largest initial public offering (IPO) in years. Their estimated value sits between $80-90 billion. JPMorgan Chase, Morgan Stanley, and Goldman Sachs have reportedly tapped as underwriters for the move.
The fast fashion empire built its success through a massive online presence, manufacturing their collections in many small Chinese factories.
Over the years, Shein has come under fire for alleged copyright infringement, poor working conditions, and environmental damage from fast fashion practices. The company denied these accusations. Though, some lawmakers are pushing for these issues to be resolved before their public debut.
Read more about this business move on The Guardian.
Spain signs historic deal to protect endangered Doñana wildlife reserve
Doñana National Park, one of Europe's largest wetlands, and its surrounding areas will receive a $1.4 billion boost from Spain’s government. This investment will help preserve these lagoons and support their critical functions, including carbon absorption, groundwater filtration, and preservation of ecosystems.
With the help of incentives, the government hopes to encourage local farmers to stop cultivating crops with high water needs and restore lands to forests. These investments will reduce the agricultural pressure on the underground aquifers, which are fed by the wetlands. In addition, the previously announced plans to expand irrigation near Doñana have been canceled.
As a UNESCO World Heritage Site and Biosphere Reserve, Doñana National Park is home to five threatened bird species. The area also provides a wintering site for approximately 500,000 waterfowl and a place of rest for other migratory birds while heading south to warmer winter weather.
Read more about this protection program at Euro News and Reuters.
Critically endangered Sumatran rhino born in Indonesian sanctuary
Nestled in the southern rainforests of Sumatra Island, the Way Kambas National Park and its dedicated rangers welcomed the rare birth of a 55-pound male rhinocero to first-time mother, Delilah. This renews the optimism of conservationists about the future of this endangered species, which bolsters a population of fewer than 80 animals.
“[This birth] emphasizes the government commitment of the Indonesian Government on the rhino conservation efforts in Indonesia, especially the Sumatran rhino,” Indonesian Environment and Forestry Minister Siti Nurbaya Bakar said in a written statement.
Sumatran rhinos are threatened by deforestation of their tropical habitat and illegal poachers who kill these animals for their prized horns. This species is the only Asian rhino with double horns. These black rhinos have a natural lifespan of 35 to 40 years.
Learn more about the conservation of these vulnerable rhinos on the Associated Press.
Libya and Jordan farmers turn to the newer soilless techniques
In response to the changing climate, farmers in some of the world's driest countries are shifting their traditional growing methods to hydroponics. This innovative system uses nutrient-rich water to grow plants without soil, under the protection of climate-controlled tents.
Hydroponics uses a fraction of the resources required for traditional cultivation. On top of that, the popular practice reduces deforestation for cropland and minimizes pesticide use.
“They grow faster, have purer colours, and taste better than the ones grown by traditional methods. Hydroponics has been a godsend after years of failed crops," said a Libyan farmer Muhammad to Euro News.
In these vulnerable nations, crop failure further threatens their food security. Some organizations have jumped in to help with this transition, such as Green Paradise, which trains and equips farmers on hydroponic systems. This technique continues to spread across the region to adapt to their new climate realities.
Learn about hydroponics and its benefits, especially in arid climates, on Euro News and African News.
Old shipwrecks proven to be sanctuaries from destructive fishing techniques
Scattered along the UK’s coastline, an estimated 50,000 shipwrecks act as safe havens from bottom trawlers. Centuries worth of shipwrecks have provided a sanctuary for an array of marine creatures, such as fish and corals. These areas are left untouched by fishers, in stark contrast to the damage inflicted upon other fishing grounds.
This marks the first study to prove the ecological benefits of these sunken vessels.
Researchers at the University of Plymouth, in partnership with the Blue Marine Foundation, revealed the positive impact of shipwrecks on the environment, showing a 240% increase in biodiversity in the surrounding seabeds. To add to the excitement, within a mere 50 meters of the ships, the variety of species skyrocketed by another 100%.
The authors highlight the importance of these wreck sites in future conservation plans as well as show the benefits of Marine Protected Areas. With the goal of 30% of the ocean protected by 2030, this data comes at the perfect time to influence policymakers.
Dive into this research about these sunken sanctuaries on Science Daily.
