Category: 3. Business

  • Planning Department Advances Zoning Reforms In Support of New Housing, Small Businesses

    Planning Department Advances Zoning Reforms In Support of New Housing, Small Businesses

    The City of Boston Planning Department this year made its first substantial changes to the development review process in decades, continued comprehensive zoning reform of the City, and made progress on revitalizing Downtown Boston. Staff also made progress in creating more housing, including through the Office to Residential Conversion Program, the Neighborhood Housing initiative, and approval of projects by the BPDA Board.

    Staff advanced 60 new development proposals and 27 notices of project change amounting to 5.8 million net square feet worth approximately $4.8 billion of investment in our City. This includes 3,773 net residential units, of which 1,278 or 29 percent will be income-restricted. The projects approved this year are estimated to generate 5,987 net construction jobs and 3,776 net permanent jobs. Development projects newly approved in 2025 will generate approximately $9.8 million in Linkage fees to support affordable housing, and approximately $1.9 million in Linkage fees to support job training programs. 

    Continuing to elevate planning and zoning, staff also rezoned Roslindale Square with Squares + Streets zoning districts to expand areas in Roslindale that allow and welcome more housing opportunity and small business activity. This updated zoning has already resulted in approval of an all-affordable senior housing development with ground floor retail in Roslindale Square, with an additional four projects currently under review.

    The Planning Department also continued to advance specific public goals this year on over 750,000 square feet (17+ acres) of underutilized, public land across Boston. These public sites will produce a variety of public benefits and include space for affordable and mixed-income housing, marine industrial and blue tech uses, a community-based non-profit, public libraries, gardens and public outdoor space, and a fire station. Notable new project sites in 2025 included Pier 5, Parcel M, and Welcome Home, Boston Phase 3. Major project milestones included the conveyance of land for the new Chinatown Boston Public Library branch and affordable housing project at Parcel R1, and the Alma Wright Zen Garden at Parcels S-20 and S-21. Upgrades to Pier 10 in the Raymond L. Flynn Marine Park enabled a new commuter water shuttle stop in partnership with the Massachusetts Convention Center Authority and the Seaport Transportation Management Association (TMA), which opened this summer. These redevelopment efforts further the recommendations made in the City’s 2022 land audit to maximize the potential for underutilized sites across Boston to meet goals of producing affordable housing and other community needs.

    The Coastal Resilience Delivery Team also released a draft plan for resiliency measures at Long Wharf this fall. This project will recommend solutions to current and near-term flooding, guidelines to retrofit and protect individual structures on Long Wharf, and a set of alternative designs that will contribute to planning and delivering a comprehensive coastal flood protection system through Downtown and the North End.

    The sections below provide more detail on major accomplishments and progress of the Planning Department to help make Boston a home for everyone, and tackle Boston’s greatest challenges today: resilience, affordability, and equity.

    Planning takes steps to create a more vibrant, residential Downtown through rezoning and office conversions

    Following almost two years of zoning-focused engagement with the community, in addition to a multi-year planning process, the Zoning Commission adopted new comprehensive zoning for Downtown Boston in October for the first time in more than 30 years. The zoning meaningfully prioritizes the ability to build new housing and mixed-use development across Downtown in response to the ongoing housing shortage, enabling increased density at the core of Boston’s transit network where it can be best supported. Residential uses are now legal throughout the new zoning districts, whereas large hotel, lab, and office uses will require further zoning approval. The zoning also eliminated outdated and prohibitive land-use restrictions to encourage new and diverse businesses like coffee houses, bakeries, fitness studios, and entertainment uses to thrive, fill empty storefronts, and help drive foot traffic and activity Downtown. 

    Building off of the success of the City’s Office to Residential Conversion Program, the new zoning supports historic preservation by eliminating barriers to convert or adapt existing buildings, and also provides extensive design guidelines to ensure sensitivity and preservation of historic areas. 

    The City of Boston also extended the application period for the Office to Residential Conversion Program through the end of 2026, due to its success since its last extension in the summer of 2024. The program, which formally launched in October of 2023, has received 22 applications to convert 1.2 million square feet of office space across 27 buildings into 1,517 new homes, including 284 income-restricted units, far exceeding initial city goals. Five projects totaling 306 units are currently under construction, and one of the first buildings to apply for the program at 281 Franklin Street has already been fully tenanted with 15 units. The goal of this program is to support owners and developers of older commercial office buildings in converting them to housing, and to help stabilize the office market downtown while also increasing the housing stock in Downtown Boston. The program is also designed to respond to post-pandemic economic shifts that will prioritize expanding housing options Downtown, creating an 18-hour, mixed-use neighborhood.

    Planning makes first substantial changes to development review process in 30 years 

    In August, the Zoning Commission approved amendments to Article 80 of the zoning code recommended by the Planning Department to improve the predictability and consistency of the development review process, and lay the groundwork for future reforms as part of the Article 80 Modernization Action Plan. The amendments: change the thresholds and procedures for Boston Civic Design Commission (BCDC) review; make it easier to renovate existing buildings, including rehabilitation for sustainability upgrades and conversions; modernize communication methods with the public; and improve coordination between city departments. Overall, these amendments made the development review process more efficient for housing projects, internal renovations, and sustainability upgrades.

    In addition, staff are currently piloting new engagement tools within the review process including: an early engagement toolkit for developers, new training and forms to support increased transparency and clarify expectations for Advisory Group members, signage on the site of a proposed project to better inform the public about new development in their community, and improvements to public meetings to make them more clear and concise. Beginning in July, all new projects began the modernized review process.

    All of these improvements will fully go into effect in 2026. Together with the zoning changes, continued operational improvements will lead the city toward a development review process that is easier to use, consistent with existing practice, and set up for future reform.

    City releases Anti-Displacement Action Plan

    The City of Boston adopted its first ever Anti-Displacement Action Plan, A Place to Thrive, this summer, which lays out a two-year plan for City departments to help stabilize residents, small businesses, and cultural organizations that may face direct or economic displacement, helping to ensure all Bostonians can thrive and flourish here. The City’s anti-displacement efforts are grounded in four main tenets: protect, preserve, produce, and prosper. The City is working to stabilize households by protecting people – particularly lower-income and vulnerable renters and homeowners – from displacement; preserving existing housing; producing new housing for people at all income levels; and promoting prosperity through homeownership.

    As part of the Plan, the Planning Department will pilot the first ever Direct Displacement Disclosure. Developers will be asked to notify any current tenants on site of their proposed project 30 days before filing the project with the City, and to notify the City of any possible direct displacement of residential, commercial or cultural tenants that may occur as a result of their project. Displacement impacts will be reviewed and, in certain cases based on the unique circumstances of each project, the City may request displacement mitigation measures as part of the project’s overall mitigation strategy. This will be piloted for the next year as part of the modernized Article 80 development review process. Staff will evaluate the impact of this new policy, share results, and refine as needed.

    Roslindale Square rezoned with Squares + Streets zoning districts

    The Zoning Commission approved new Squares + Streets zoning districts in Roslindale Square in May on the recommendation of the Planning Department. This followed a year-long community process. The new Squares + Streets zoning districts are aimed at creating a more mixed-use neighborhood center and connecting streets that support walkability, small businesses, outdoor gathering spaces, and new housing growth. The new zoning districts support creating more transit-oriented housing in the plan area. In addition, new zoning will make it easier to: build more housing in the area, make modifications to existing housing that will help preserve the existing supply and build generational wealth, create a backdrop for community development by allowing new cultural anchors in the plan area, and allow new growth and opportunities for small businesses. 

    This is the second area of the city where Squares + Streets zoning districts are now implemented. The first location to be mapped with Squares + Streets zoning was Mattapan Square, following the completion of PLAN: Mattapan. 

    The Zoning Commission also adopted two new Squares + Streets Districts this year that add a new commercial typology and a mixed-use typology with reduced height, in response to a zoning petition by Hyde Park residents submitted during the Squares + Streets planning process for Cleary Square. Now that these districts have been added to the zoning code, the Cleary Square draft plan and zoning map will be released in January 2026. This plan will include a range of strategies and recommendations aimed at fostering economic vitality, enhancing public spaces, and supporting the unique character of the Square. 

    Planning for key corridors is an early phase of citywide zoning reform, focusing on high-impact, near-term, and targeted recommendations that can be implemented through zoning changes and capital investments. As Boston’s population continues to grow, these corridors play a critical role in connecting neighborhoods and ensuring every Bostonian has access to affordable, sustainable, and equitable places to live, work, and play. Additional corridor locations will be announced on a rolling basis.

    Net Zero Carbon Zoning goes into effect

    The City this year adopted Net Zero Carbon Zoning to create decarbonization requirements for new development projects that advance the City’s goal of being carbon-neutral by 2050. Implemented in July, these updates continue Boston’s leadership in the transition to a more sustainable, low-carbon future for both building materials and energy aligned with the City’s Building Emissions Reduction Disclosure Ordinance (BERDO). Under NZC, projects subject to Article 80 review will minimize energy use, carbon emissions and use renewable electricity to annually achieve net zero carbon emissions. Three projects, all with income-restricted housing, have already been approved under this new zoning this year, and five others are under review. These projects demonstrate the Mayor’s and City’s leadership in moving us closer to our carbon neutral 2050 goals, and proving we can build next generation buildings today.

    Enabling Accessory Dwelling Units (ADUs) and home renovations

    As of September, there were 51 ADUs permitted in Boston in 2025, compared with 34 through all of 2024. Building off the momentum from the ADU Guidebook released last November, the Planning Department this year began meeting with residents in West Roxbury, Hyde Park, and Roslindale about the Neighborhood Housing initiative. This zoning will expand the types of housing allowed to be built in Boston citywide, including ADUs, thereby helping the city more effectively respond to the housing shortage. In addition, this new zoning will legalize and simplify the upkeep and renovation of homes. A first draft of new zoning districts in these neighborhoods will be released in early 2026.

    Planning in Allston-Brighton

    The Planning Department hosted an Ideas Reception this summer for the Allston-Brighton Community Plan, and staff anticipate releasing a draft plan and zoning in 2026. The plan is based on the Allston-Brighton Needs Assessment that identified needs such as more accessible and affordable housing, and convenient public open space, among other things. 

    In parallel, the Beacon Park Yard Regional Framework Plan is guiding the long-term redevelopment of this former rail yard into a new mixed-use district, with a focus on housing, job creation, open space, and improved connections to surrounding neighborhoods. The Harvard Enterprise Research Campus (ERC) Plan complements this effort by establishing a framework for a major research- and innovation-focused campus, supporting economic development while advancing transportation improvements, sustainability goals, and public realm investments that benefit the broader Allston-Brighton area. Both of these plans will be released in early 2026.

    Boston Design Vision produces ‘Color Flows on Winter Street’ activation downtown

    The Planning Department launched ‘Color Flows on Winter Street’ in the fall of 2025, a multi-week public art and public space activation program with fun, interactive events in Downtown Crossing. Winter Street was transformed by colorful art installations, food trucks, and cultural programming, as part of the City’s broader effort to reimagine how Boston’s streets and pedestrian zones can be safer, more engaging, and enjoyable for all. ‘Color Flows’ was one of the first implementation projects coming out of the Boston Design Vision. The activation tested new approaches to transforming public spaces as hubs of community, culture, and economic investment. During the time ‘Color Flows’ was running, 80 percent of the area businesses surveyed reported an increase in foot traffic, and 60 percent reported an increase in sales. In addition, 90 percent of people surveyed during the activation reported feeling safer in Downtown Crossing. Staff are now exploring which neighborhood streets might be good candidates for this type of programming in 2026.

    Community Benefits

    The Planning Department this year presented more than $433,000 in community benefit grant funds disbursed to 42 local non-profits from projects located Downtown, in South Boston and in Dorchester. The organizations awarded serve the community in a variety of ways including community development, youth programming, and arts and culture.

     

    ###

    About the Planning Department

    The City of Boston’s Planning Department shapes growth that serves Boston’s residents and centers their needs. Our mission is to address our City’s greatest challenges: resilience, affordability, and equity, and to take real estate actions and prioritize planning, development, and urban design solutions that further these priorities. We seek to build trust with communities through transparent processes that embrace predictable growth and shape a more inclusive city for all. Learn more at bostonplans.org, and follow us on Twitter and Instagram @BostonPlans.

    Continue Reading

  • FDIC Provides Update on IDI Resolution Planning for Large Banks

    FDIC Provides Update on IDI Resolution Planning for Large Banks

    Summary:

    The Federal Deposit Insurance Corporation (FDIC) is providing an update related to insured depository institution (IDI) resolution planning requirements (IDI Rule) for covered insured depository institutions (CIDIs), as the FDIC develops proposed amendments to the IDI Rule.

    Statement of Applicability: The contents of, and material referenced in, this FIL do not apply to FDIC-insured and/or FDIC-supervised institutions with less than $10 billion in total consolidated assets. The content of, and material referenced in, this FIL apply to FDIC-insured depository institutions with $50 billion or more in total assets. 

    Highlights:

    Proposed Changes to the IDI Rule

    • The FDIC plans to propose changes to the IDI Rule for FDIC Board consideration in 2026. At a minimum, the FDIC expects the forthcoming proposed rule to codify the content requirement exemptions and FAQs associated with the modified approach set out in April 2025.
    • The FDIC also intends to propose additional changes that take into account lessons learned from reviewing 2025 IDI Rule submissions to ensure that the information most critical to supporting the FDIC’s ability to execute a rapid, low-cost failed bank resolution under the FDI Act is available to the FDIC, while eliminating requirements that might distract from this objective or that otherwise provide relatively low value.
    • In advance of the proposed rule, the FDIC continues to evaluate the interplay between the Title I Rule, which requires certain bank holding companies to submit resolution plans to the FDIC and Federal Reserve Board, and the IDI Rule, and will consider adjustments to address overlap between these requirements.

    2026 Submission Requirements

    The FDIC intends to proceed with the following submissions in 2026:

    • CIDI subsidiaries of U.S. global systemically important banks (U.S. GSIBs) that are scheduled to file full resolution submissions on or before July 1, 2026 will instead be required to submit content equivalent to an interim supplement by that date.
    • The remaining Group A CIDIs will be required to file submissions as currently scheduled, subject to the FAQs and related communications regarding waivers of content requirements for this cycle. The FDIC also plans to provide additional waivers for valuation content that has not proven valuable during reviews of the 2025 submissions.
    • Group B CIDIs that are scheduled to file full resolution submissions on or before April 1, 2026 or July 1, 2026 will be required to file submissions as currently scheduled, subject to the FAQs and related communications regarding waivers of content requirements for this cycle. This approach aligns these filers with similar Group B CIDIs that filed full resolution submissions in 2025.
    • Group B CIDIs that are scheduled to file full resolution submissions on or before October 1, 2026, and any IDIs that become CIDIs prior to the issuance of a final rule, will not be required to file submissions until a final rule is issued. Similarly, Group B CIDIs required to file an interim supplement on or before October 1, 2026 will not be required to file such submissions.

    2026 Capabilities Testing

    • The FDIC will conduct capabilities testing in 2026 on CIDIs’ capabilities to populate certain information to the FDIC’s virtual data room (VDR). A bank’s capability to quickly populate a VDR so that potential bidders can perform due diligence is essential if there is a rapid failure.
    • Capabilities testing is expected to commence in early 2026 for CIDIs that filed full resolution submissions in 2025. For CIDIs filing full resolution submissions in 2026, testing is expected to begin in the months following the submission due date.
    • Advance notification and instructions will be provided to CIDIs approximately 30 days prior to the testing start date.
    • The FDIC expects to only conduct capabilities testing for the CIDI subsidiaries of the U.S. GSIBs through the Title I planning process.

    Continue Reading

  • North Somerset Council secures refund for faulty recycling bags

    North Somerset Council secures refund for faulty recycling bags

    A council has said that it has been given a refund by a company that supplied thousands of faulty household recycling bags.

    Residents in the North Somerset Council area were issued with red bags for their plastic and metal waste in March, following a successful trial in November 2024 that aimed to boost recycling.

    But there were complaints from residents as many of the bags were found to have faded in the sun and were “falling apart at the seams”.

    Councillor Annemieke Waite said the unnamed company had admitted responsibility for the issues. She added that the authority had reached a “very good agreement” with the supplier and the cost of the faulty bags would be refunded.

    Continue Reading

  • CEO greetings for New Years 2026 | Global

    CEO greetings for New Years 2026 | Global

    I would like to extend my sincere New Year’s greetings.

    While the global economy continues to be supported by investment in areas such as AI, a variety of uncertainties remain, and the outlook is still difficult to predict. Against this backdrop, the business environment surrounding us is changing at an unprecedented pace. In times of rapid change, Ricoh strongly recognizes the importance of building a solid and resilient business foundation. By steadily advancing our transformation into a digital services company and further enhancing our earnings capability, Ricoh will work to achieve sustainable growth.

    Through our Corporate Value Improvement Project, we have been working to reform our earnings structure and strengthen our business foundation. Building on the results we have accumulated to date, we will further accelerate our transformation. By continuously engaging sincerely with the challenges faced by society and our customers, we will continue to evolve together with our customers and work to create and deliver new value.

    At the same time, we will further advance and deepen our ESG management by responding to rising customer expectations in business engagements and contributing to the resolution of social issues through our business.

    In February this year, Ricoh will mark a major milestone—our 90th anniversary. Our 90-year journey has by no means been a smooth one. Even so, by carrying forward the spirit of challenge that has guided us since our founding, staying close to our customers’ work, and continuing to support its evolution, we have progressed to where we are today. This history has been built through the efforts of each employee, together with the support of our various stakeholders. Looking ahead, Ricoh will continue to move forward as one global group, evolving toward our next stage of growth.

    In 2026, the Ricoh Group will continue to clearly chart a path for transformation toward the future and contribute to the realization of “Fulfillment through Work” for our customers.

    I look forward to your continued support in the year ahead.

    Continue Reading

  • Bottled water from Waitrose recalled over risk it contains glass

    Bottled water from Waitrose recalled over risk it contains glass

    A bottled water sold at Waitrose could contain glass and should be returned to the store, the Food Standards Agency (FSA) warned.

    The 750ml No1 Royal Deeside Mineral Water and the sparkling variety are being recalled “because of the possible presence of glass fragments upon opening the bottles,” which the FSA said “may cause injury and makes it unsafe to drink”.

    Waitrose apologised and said it was recalling “some” bottles as a precaution.

    The supermarket is asking customers not to use the bottles and to take them back to Waitrose or contact the company for a full refund.

    “If you have bought any of the above products do not drink it,” the FSA said in its recall notice.

    It added that the supermarket would be putting up notices in its shops warning customers.

    Deeside water is produced in Scotland from natural springs in the Cairngorms national park.

    The firm produces special batches for Waitrose, which are affected by the recall. Each bottle costs around £1.60p at Waitrose stores.

    It is not clear exactly how many bottles have been sold and what proportion of bottles are affected.

    The batch codes for the recalled mineral water are: NOV 2027 28, DEC 2027 01, DEC 2027 02, DEC 2027 10, DEC 2027 11 and DEC 2027 16, with best before dates of November and December 2027.

    The batch codes for the recalled sparkling water are: DEC 2027 01, DEC 2027 03, DEC 2027 12, DEC 2027 15 and DEC 2027 25, with a best before date of December 2027.

    The FSA advised people contact Waitrose Customer Care on 0800 188 884, choosing option 4.

    Continue Reading

  • Mahon, M. B. et al. A meta-analysis on global change drivers and the risk of infectious disease. Nature 629, 830–836 (2024).

    Google Scholar 

  • Chen, X. et al. China’s ongoing rural to urban transformation benefits the population but is not evenly spread. Commun. Earth Environ. 5, 416 (2024).

    Google Scholar 

  • Hu, J. Synergistic effect of pollution reduction and carbon emission mitigation in the digital economy. J. Environ. Manag. 337, 117755 (2023).

    Google Scholar 

  • Wu, Y., Hu, J., Irfan, M. & Hu, M. Vertical decentralization, environmental regulation, and enterprise pollution: an evolutionary game analysis. J. Environ. Manag. 349, 119449 (2024).

    Google Scholar 

  • Cheng, X., Yu, Z., Gao, J., Liu, Y. & Jiang, S. Governance effects of pollution reduction and carbon mitigation of carbon emission trading policy in China. Environ. Res. 252, 119074 (2024).

    Google Scholar 

  • Wang, S. & Li, J. How carbon emission trading mechanism and supply chain digitization affect manufacturing enterprises’ competitiveness? Evidence from China. J. Clean. Prod. 452, 142164 (2024).

    Google Scholar 

  • Xian, B., Xu, Y., Chen, W., Wang, Y. & Qiu, L. Co-benefits of policies to reduce air pollution and carbon emissions in China. Environ. Impact Assess. Rev. 104, 107301 (2024).

    Google Scholar 

  • Guo, D., Zhang, S., Hou, H., Zhang, Y. & Xu, H. Synergistic evaluation methodology for pollution and carbon reduction in the field of solid waste resource utilization. Environ. Impact Assess. Rev. 108, 107604 (2024).

    Google Scholar 

  • Nayal, K. et al. Supply chain firm performance in circular economy and digital era to achieve sustainable development goals. Bus. Strategy Environ. 31, 1058–1073 (2022).

    Google Scholar 

  • Luo, S., Xiong, Z. & Liu, J. How does supply chain digitization affect green innovation? Evidence from a quasi-natural experiment in China. Energy Econ. 136, 107745 (2024).

    Google Scholar 

  • Peng, X. et al. Extent of global decarbonization of the power sector through energy policies and governance capacity. Commun. Earth Environ. 5, 321 (2024).

    Google Scholar 

  • Parmentola, A., Petrillo, A., Tutore, I. & De Felice, F. Is blockchain able to enhance environmental sustainability? A systematic review and research agenda from the perspective of sustainable development goals (SDGs). Bus. Strategy Environ. 31, 194–217 (2022).

    Google Scholar 

  • Kunkel, S., Matthess, M., Xue, B. & Beier, G. Industry 4.0 in sustainable supply chain collaboration: insights from an interview study with international buying firms and Chinese suppliers in the electronics industry. Resour. Conserv. Recycl. 182, 106274 (2022).

    Google Scholar 

  • Li, Q., Zhang, J., Feng, Y., Sun, R. & Hu, J. Towards a high-energy efficiency world: assessing the impact of artificial intelligence on urban energy efficiency. J. Clean. Prod. 461, 142593 (2024).

    Google Scholar 

  • O’Brien, T. Growing green democracy? Barriers to ecological modernization in democratizing states. Environ. Policy Gov. 23, 247–258 (2013).

    Google Scholar 

  • Li, L., Raza, M. Y. & Cucculelli, M. Electricity generation and CO2 emissions in China using index decomposition and decoupling approach. Energy Strategy Rev. 51, 101304 (2024).

    Google Scholar 

  • Yu, Y., Liu, D. & Dai, Y. Carbon emission effect of digital economy development: impact of digital economy development on China’s carbon dioxide emissions. Clean Technol. Environ. Policy 26, 2707–2720 (2024).

    Google Scholar 

  • Wang, J., Wu, H., Wang, W. & Liu, Y. Effects of supply chain digitization on carbon performance of manufacturing corporations. J. Manuf. Technol. Manag. https://doi.org/10.1108/JMTM-12-2024-0699 (2025).

    Google Scholar 

  • Gu, Z., Mousa, S., Meng, D., Elkady, A. M. & Leong, L. W. Digitizing energy supply chains for enhanced resilience: exploring the nexus between supply chain digitization, carbon neutrality, and natural resource extraction. Energy Econ. 142, 108177 (2025).

    Google Scholar 

  • Boyce, J. K., Zwickl, K. & Ash, M. Measuring environmental inequality. Ecol. Econ. 124, 114–123 (2016).

    Google Scholar 

  • Downey, L. US metropolitan-area variation in environmental inequality outcomes. Urban Stud. 44, 953–977 (2007).

    Google Scholar 

  • Fernández, I. C. & Wu, J. Assessing environmental inequalities in the city of Santiago (Chile) with a hierarchical multiscale approach. Appl. Geogr. 74, 160–169 (2016).

    Google Scholar 

  • Rüttenauer, T. Bringing urban space back in: a multilevel analysis of environmental inequality in Germany. Urban Stud. 56, 2549–2567 (2018).

    Google Scholar 

  • Zheng, S., Yao, R. & Zou, K. Provincial environmental inequality in China: measurement, influence, and policy instrument choice. Ecol. Econ. 200, 107537 (2022).

    Google Scholar 

  • Xu, Y. & Zhu, C. Do green supply chains promote firm environmental information disclosure? Pol. J. Environ. Stud. 34, 1807–1822 (2025).

    Google Scholar 

  • Zhu, Y. & Zhang, Z. Supply chain digitalization and corporate ESG performance: evidence from supply chain innovation and application pilot policy. Finance Res. Lett. 67, 105818 (2024).

    Google Scholar 

  • Beck, T., Levine, R. & Levkov, A. Big bad banks? The winners and losers from bank deregulation in the United States. J. Finance 65, 1637–1667 (2010).

    Google Scholar 

  • Schuch, E. et al. Breaking the carbon lock-in: identifying pathways for Malaysia towards a low-carbon future. Technol. Forecast. Soc. Change 202, 123331 (2024).

    Google Scholar 

  • Zhang, Y., Chen, Y., Li, K., Wu, Y. & Ma, C. Carbon lock-in mechanisms in transport infrastructure and temporal spatial dynamics. Buildings 15, 1714 (2025).

  • Zhang, K., Shao, S. & Fan, S. Market integration and environmental quality: evidence from the Yangtze River delta region of China. J. Environ. Manag. 261, 110208 (2020).

    Google Scholar 

  • Ma, J., Li, Q., Zhao, Q., Liou, J. & Li, C. From bytes to green: the impact of supply chain digitization on corporate green innovation. Energy Econ. 139, 107942 (2024).

    Google Scholar 

  • Wu, W., Bi, S., Zhan, Y. & Gu, X. Supply chain digitalization and energy efficiency (gas and oil): how do they contribute to achieving carbon neutrality targets? Energy Econ. 142, 108140 (2025).

    Google Scholar 

  • Jiang, H., He, B., Mubarik, M. S. & Shi, S. Role of supply chain digitalization and global supply chain in decarbonization of natural resources sector supply chain. J. Environ. Manag. 370, 122689 (2024).

    Google Scholar 

  • Ding, X., Liu, H., Zhang, J., Shen, Y. & Yang, G. Does the local government multi-objective competition intensify the transfer of polluting industries in the Yangtze River economic belt? Environ. Res. 245, 118074 (2024).

    Google Scholar 

  • Zeng, J. et al. The local variations in regional technological evolution: evidence from the rise of transmission and digital information technology in China’s technology space, 1992–2016. Appl. Geogr. 112, 102080 (2019).

    Google Scholar 

  • Zhang, F. et al. Empowering urban energy transition through data-driven decision-making: a statistical examination of technological innovations in transportation and mobility. Sustain. Cities Soc. 106, 105374 (2024).

    Google Scholar 

  • Carrillo, P. E., Lopez-Luzuriaga, A. & Malik, A. S. Pollution or crime: the effect of driving restrictions on criminal activity. J. Public Econ. 164, 50–69 (2018).

    Google Scholar 

  • Li, Y., Lin, F. & Wang, W. Environmental regulation and inward foreign direct investment: evidence from the eleventh five-year plan in China. J. Econ. Surv. 36, 684–707 (2022).

    Google Scholar 

  • Han, D., Bi, C., Wu, H. & Hao, P. Energy and environment: how could energy-consuming transition promote the synergy of pollution reduction and carbon emission reduction in China? Urban Clim. 55, 101931 (2024).

    Google Scholar 

  • Zhang, L., Zhang, M. & Guo, Y. Entropy-weighted TOPSIS-based ecological environment driving factors in the Chaohu Lake rim region temporal and spatial differentiation study. Pol. J. Environ. Stud. 33, 5459–5471 (2024).

    Google Scholar 

  • Xiang, W. M., Lan, Y. Q., Gan, L. & Li, J. How does new urbanization affect urban carbon emissions? Evidence based on spatial spillover effects and mechanism tests. Urban Clim. 56, https://doi.org/10.1016/j.uclim.2024.102060 (2024).

  • Wiedmann, T. et al. Three-scope carbon emission inventories of global cities. J. Ind. Ecol. 25, 735–750 (2021).

    Google Scholar 

  • Chen, Y., Zhao, Z., Yi, W., Hong, J. & Zhang, B. Has China achieved synergistic reduction of carbon emissions and air pollution? Evidence from 283 Chinese cities. Environ. Impact Assess. Rev. 103, 107277 (2023).

    Google Scholar 

  • Gao, X., Liu, N. & Hua, Y. Environmental protection tax law on the synergy of pollution reduction and carbon reduction in China: evidence from a panel data of 107 cities. Sustain. Prod. Consum. 33, 425–437 (2022).

    Google Scholar 

  • Yu, H., Wang, J., Hou, J., Yu, B. & Pan, Y. The effect of economic growth pressure on green technology innovation: do environmental regulation, government support, and financial development matter? J. Environ. Manag. 330, 117172 (2023).

    Google Scholar 

  • Ren, Y., Hu, Y. & Yu, Y. Collaborative effect of the energy conservation and emission reduction fiscal policy in China. Environ. Res. 258, 119431 (2024).

    Google Scholar 

  • Szczygielski, K., Grabowski, W., Pamukcu, M. T. & Tandogan, V. S. Does government support for private innovation matter? Firm-level evidence from two catching-up countries. Res. Policy 46, 219–237 (2017).

    Google Scholar 

  • Yang, Y., Deng, X., Wang, Z. & Yang, L. How knowledge resources drive industrial chain carbon reduction: an analysis from the knowledge management perspective. J. Knowl. Manag. 28, 1699–1710 (2024).

    Google Scholar 

  • Wang, L. & Shao, J. Digital economy, entrepreneurship and energy efficiency. Energy 269, 126801 (2023).

    Google Scholar 

  • Feng, L., Hu, J., Huang, M., Wu, K. & Wei, X. “China’s supply chain digitalization reduces urban pollutants and carbon emissions locally”, Mendeley data, V1, https://doi.org/10.17632/3hdsjcfdsy.1 (2025).

Continue Reading

  • Saudi Arabia’s digital economy sees expansion in GDP share

    Saudi Arabia’s digital economy sees expansion in GDP share

    The core digital economy contributed 2.7% to GDP, while the narrow digital economy accounted for 2.4%. The broad digital economy made up the largest portion, representing 10.9% of GDP.

    Survey findings showed that operating revenues in the information and communications technology (ICT) sector reached SAR249.8 billion in 2024. Wired and wireless telecommunications activities led the sector with revenues of SAR133.9 billion, followed by computer programming activities at SAR31.1 billion.

    Operating expenditures in the ICT sector totaled SAR122.2 billion, while employee compensation amounted to SAR29.2 billion. Wired and wireless telecommunications activities accounted for the highest share of employee compensation at SAR16.1 billion.

    In terms of foreign trade, imports of ICT goods rose from SAR54.9 billion in 2023 to SAR67.9 billion in 2024, marking a 23.5% increase. Communications equipment led imports, valued at SAR36.8 billion. Meanwhile, exports and re-exports of ICT goods surged to SAR25.8 billion in 2024, up from SAR11.8 billion the previous year, representing growth of 118%.

    Previously, Qazinform News Agency reported Saudi unemployment falls to 7.5% amid strong gains in female workforce participation. 

    Continue Reading

  • KLM and Cabin Crew Unions Reach New Collective Labor Agreement for Cabin Staff

    KLM and Cabin Crew Unions Reach New Collective Labor Agreement for Cabin Staff

    Duration and Salary Arrangements
    The CLA will be effective for two years, retroactively from March 1, 2025, through February 28, 2027. Employees will receive a total salary increase of 3.25%: 1% on December 1, 2025; 1.25% on July 1, 2026; and 1% on January 1, 2027. In addition, all cabin crew members will receive a one-time net payment of €750 in January 2026 (based on full-time employment).

    Other Agreements
    In addition to salary development, agreements have been made regarding work schedules, allowances, and sustainable employability. The 80-90-100 scheme will be extended, a new temporary early retirement (RVU) arrangement has been agreed, and a return policy is in place for those transferring to a ground position.

    ';

    Continue Reading

  • Vestas signs orders for a total of 183 MW with a single customer in Southern Europe

    Vestas signs orders for a total of 183 MW with a single customer in Southern Europe

    Press Release:

    News release from Vestas Mediterranean
    Madrid, 31 December 2025

    Vestas is proud to announce the following orders as part of our Q4 order intake:

    Country Region Customer Projects name MW Turbine variant Service agreement Delivery & commissioning
    Italy EMEA Undisclosed Undisclosed 52 8 x V162-6.5 MW 10-yearAOM 5000 Service Agreement Turbine delivery is expected by 2026
    Spain EMEA Undisclosed Undisclosed 36 5 x V162-7.2 MW 10-yearAOM 5000 Service Agreement Turbine delivery and commissioning are expected by 2027
    Spain EMEA Undisclosed Undisclosed 19 3 x V162-6.5 MW 10-yearAOM 5000 Service Agreement Turbine delivery and commissioning are expected by 2027
    Portugal EMEA Undisclosed Undisclosed 32 5 x V162-6.5 MW 10-yearAOM 5000 Service Agreement Turbine delivery and commissioning are expected by 2027
    Portugal EMEA Undisclosed Undisclosed 18 4 x V136-4.5 MW 10-yearAOM 5000 Service Agreement Turbine delivery is expected by 2026 and commissioning by 2027
    France EMEA Undisclosed Undisclosed 25 4 x V117-4.2 MW, 2 x V136-4.2 MW 10-yearAOM 5000 Service Agreement Turbine delivery is expected 2026 and commissioning by 2027

    For more information, please contact:
    Paula Canto González
    Marketing and Communications Specialist
    Vestas Mediterranean
    Email: pacgn@vestas.com

    About Vestas
    Vestas is the energy industry’s global partner on sustainable energy solutions. We design, manufacture, install, and service onshore and offshore wind turbines across the globe, and with more than 190 GW of wind turbines in 88 countries, we have installed more wind power than anyone else. Through our industry-leading smart data capabilities and unparalleled more than 157 GW of wind turbines under service, we use data to interpret, forecast, and exploit wind resources and deliver best-in-class wind power solutions. Together with our customers, Vestas’ more than 35,000 employees are bringing the world sustainable energy solutions to power a bright future.

    For updated Vestas photographs and videos, please visit our media images page on: https://www.vestas.com/en/media/images

    We invite you to learn more about Vestas by visiting our website at www.vestas.com and following us on our social media channels:

    Continue Reading

  • Treasury, IRS provide guidance on the new deduction for car loan interest under the One, Big, Beautiful Bill

    IR-2025-129, Dec. 31, 2025

    WASHINGTON — The Department of the Treasury and the Internal Revenue Service today provided guidance on the “No Tax on Car Loan Interest” provision enacted under the One, Big, Beautiful Bill.

    The proposed regulations issued today relate to a new deduction for interest paid on vehicle loans incurred after Dec. 31, 2024, to purchase new made-in-America vehicles for personal use. This new tax benefit applies to both taxpayers who take the standard deduction and those who itemize deductions.

    Who can take a deduction for interest on car loans

    To help taxpayers take advantage of this new tax benefit, today’s guidance addresses important eligibility criteria, including:

    • Providing rules relating to new vehicles eligible for the deduction, including for determining if the final assembly of a vehicle occurred in the United States;
    • Providing rules for determining which vehicle loans qualify and the amount of interest paid on a loan that may be deductible;
    • Providing rules for determining if a new vehicle is purchased for personal use; and
    • Identifying taxpayers who can take the deduction and clarifying the $10,000 annual deduction limit.

    What lenders need to know

    The IRS previously announced transition guidance for certain lenders and other taxpayers receiving interest for vehicle loans in 2025. In general, those persons must file information returns with the IRS to report interest received during the tax year and other information related to the loan. These information returns enable taxpayers to claim the benefits of the vehicle loan interest deduction. To help lenders implement these information reporting requirements, the proposed regulations clarify:

    • Which lenders and other interest recipients are required to report and the time and manner for this reporting; and
    • What information must be included on the form provided to the IRS and to taxpayers.

    More information

    Treasury and IRS invite comments from the public on these proposed regulations by Feb. 2, 2026. Comments can be submitted through Regulations.gov and instructions can be found in the proposed regulations.

    For more information, see One, Big, Beautiful Bill provisions on IRS.gov.

    Continue Reading