Key takeaways:
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LOS ANGELES — Outkast, Cyndi Lauper, Salt-N-Pepa and Soundgarden will be among the newly minted members of the Rock & Roll Hall of Fame at Saturday night’s induction ceremony.
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Sao Paolo, 8 November 2025: The World Business Council for Sustainable Development (WBCSD) has launched its Emissions Reduction Accelerator (ERA), an accelerator designed to mobilize collective business action and unlock value chain decarbonization at scale. ERA was formally introduced as part of the build up to COP30, with the announcement of two flagship value chain pilots focused on scaling emissions reduction in agriculture and the built environment.
ERA is not just a climate imperative – it is a business opportunity. According to a report co-authored by WBCSD and EY, WBCSD members and their value chains account for as much as 15.05 Gt CO₂e (89% of which are Scope 3) – approximately a quarter of annual global greenhouse gas emissions. By focusing on value chain (Scope 3) emissions, companies can address their largest climate impact, while also unlocking tangible business benefits: lower operational costs, enhanced supply chain resilience, improved stakeholder trust, access to new markets, and a lower cost of capital.
Decarbonizing value chains is increasingly demanded by regulators, investors, and customers, and companies that lead will be best positioned for growth and competitiveness.
ERA’s initial pilots will target two of the highest-impact value chains: agriculture and the built environment.
The first pilot will focus on lowering emissions from fertilizers, a major source of GHGs in the agri-food value chain. By mapping and engaging all relevant actors – from input providers to farmers to food brands – the pilot will test and scale solutions such as green fertilizers and improved use efficiency, with the potential for global spillover.
The second pilot will address the supply and demand for net zero asset buildings. With the built environment responsible for a significant share of global emissions, this pilot will bring together owners, occupiers, solution providers, and financiers to overcome barriers to retrofitting and decarbonizing real estate assets, including manufacturing facilities, logistics hubs, offices, and data centers.
In the lead-up to COP30, WBCSD convened a roundtable in Sao Paolo, bringing together senior business executives from member companies, partners, and invited guests. The session showcased ERA as WBCSD’s platform to accelerate value-chain decarbonization and unlock business value. Key insights from the WBCSD–EY analysis and value-chain mapping by McKinsey were presented, demonstrating clear implementation pathways for the pilots.
Key outcomes:
The next five years must be the years of decisive action to reduce greenhouse gas emissions and avoid the most catastrophic impacts of climate change. This is why accelerating emissions reduction has become a priority focus for WBCSD. We are entering a transformative era shaped by the rapid development of artificial intelligence. These two forces – decarbonization and digitalization – are converging. Acted on consciously and collectively, they can reshape competitiveness, innovation, and impact. Done well, decarbonizing business value chains lowers costs, enhances resilience, mitigates risks, and unlocks new opportunities for growth and investment for all. Climate leadership today must go beyond commitments – no company can reach net zero alone. Collective mobilization across value chains is essential.
– Peter Bakker, President and CEO, WBCSD
ERA is a platform built by business, for business. By engaging with ERA, companies can not only accelerate their own decarbonization journeys but also strengthen their competitiveness, resilience, and long-term value. I invite all WBCSD members and forward-looking businesses everywhere: join us, help design and deliver the ERA pilots, and be part of the business-led transformation that will define the next decade. Together, we can turn ambition into action and deliver real impact for climate and for business.
– Dominic Waughray, Executive Vice President, WBCSD
WBCSD calls on all companies, partners, and stakeholders to join the Emissions Reduction Accelerator and help deliver the business-led solutions needed to close the emissions gap by 2030.

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Junk bond investors are getting more skittish about risk.
An index of CCC rated bonds in the US has dropped nearly 0.8% over the month ended Thursday, underperforming the broader high-yield market as investors increasingly avoid the riskiest debt. Distressed US dollar loans jumped to $71.8 billion at the end of October — the highest since President Donald Trump outlined his tariff policy in April.