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As global temperatures rise and theres a seemingly endless series of climate disasters, its natural to look to technology as a solution. From carbon capture (where emissions arent released into the atmosphere but buried in the ground) to geo-engineering (where particles are sprayed into the atmosphere to reflect sunlight and lower temperatures), green innovations are frequently touted as the way to resolve our continued reliance on fossil fuels. But in our eagerness for silver bullets, we may be susceptible to optimism bias, focusing too much on potential benefits while ignoring many of the negative effects or drawbacks. A 2022 essay in Nature argues that many of these technologies are often overhyped and dont include the significant associated challenges, costs, and unintended consequences. For instance, discussions of EVs and their required batteries usually dont address the harmful extraction of necessary minerals like silicon, lithium, and cobalt. A less flashy type of climate innovation that can have real impact now doesnt hype technical fixes and instead focuses on rethinking a companys operations, including its use of materials and redesign of supply chains. Sustainability must start with product design Studies have shown that 70%80% of a products environmental impact is determined during the design phase, something Ive also heard from many of the companies Ive researched over the last two decades. For instance, Riccardo Bellini, former CEO of luxury fashion house Chloé, told me that an analysis of the companys full environmental footprint in 2020 revealed that 80% of the companys sustainability challenges could be solved at the design tablespecifically that 58% of Chloés emissions stemmed from raw materials like cotton, leather, and virgin cashmere. Understanding this led the company to prioritize lower-impact materials like linen and hemp in new collections, and increase its use of recycled materials, particularly cashmere. And for leather products, Chloé began sourcing through a supplier that had third party certifications ensuring that their tanning and manufacturing processes followed strict environmental standards. But Chloé has remained cautious about vegan leathers, because while its an area of tech-focused innovation, many leather substitutes are derived from fossil fuel-intensive sources. Bellini told me the company committed that by 2025, 90% of its fabrics would be lower impact, a goal its on track to meet, as 85% of its products were made with these materials in 2024. Many of the companies I have researched and written about, from injection molding company Cascade Engineering to waste-management platform Rubicon, have similarly shown that initiatives focused on rethinking inputs and supply chains result not only in positive environmental effects but also significant monetary savings. Going beyond do less harm Seventh Generations former CEO Joey Bergstein also emphasized to me that another reason why sustainability must start with product redesign is that it can allow companies to avoid some emissions in the first place. This approach contrasts with corporate environmental work that begins after the product is produced, so at most can only focus on doing less harm. Thus, at Seventh Generation, the companys research and development team aims to rethink products from the ground up, for example exploring new formats or delivery methods that can avoid the use of plastic, a material thats made from fossil fuels and is hard to recycle. A key initiative at the company is reducing water usage in its products, which has important carbon emissions benefits as it cuts shipping weight and the need for plastic packaging. For instance, Bergstein told me Seventh Generation has active research efforts to create effective waterless productssuch as in powder or tablet forms that are packaged in easily recycled materials like cardboard or steelfor laundry, dish cleaning, counter cleaning, and handwashing. In 2020, one example of this work moved from the lab to the market when the company introduced a line of cleaning products packaged in steel canisters that avoid using plastic altogether. Seventh Generation is not alone in this approach of prioritizing avoidance of plastic in product development. Leaders at Grove Collaborative told me how they reformulated shampoo products to be a bar (so could be packaged in cardboard) as opposed to a liqud, and footwear and apparel company Allbirds created a new material for shoe soles made from natural sources. Toward a more holistic view of sustainability What these examples show is that while it is easy to fall under the spell of sexy green innovations, our sustainability challenges in fact require hard work beyond superficial tweaks or isolated innovations. Instead of merely striving to do less harm, to the environment, which results in incremental changes, companies must take holistic views of their productsstarting with design. They must recognize that true impact lies not just in isolated efficiencies or technological innovations but in reimagining supply chains, production, and business models to contribute positively to the planet and society.
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You shouldn’t have to cross your fingers and hope for a strong stock market to coincide with your short-term goals. And right now, you probably wouldn’t want to.Because you’re working within a short time framethink two to six yearsinvesting for shorter-term goals like buying a house or paying for a wedding should look different from the portfolio you build for retirement. But don’t stop putting away money for your long-term goals while you’re working toward your short-term ones.So, how do you balance saving for both? How to think about funding short-term and long-term goals Don’t forgo saving for the long term to meet your short-term goals. Thanks to the power of compounding over time, saving early can have a large impact on your long-term outcomes. The longer the time frame, the greater the potential impact. You should put retirement front and center, especially as you approach your midcareer.Earlier in your career, you might shift your savings somewhat to shorter-term goals, but retirement should still be part of the equation. At least, take advantage of any retirement match that your employer might offer. To some extent, what you’re saving for can tip the balance as well. You might direct more of your savings away from retirement if you’re saving for a house than if you’re saving for a vacation. Account types that work for short-term investing It’s helpful to separate your short-term portfolio from your retirement portfolio, but there are some accounts that you can use to multitask. Depending on your situation, you might use a tax-deferred account, like a Roth IRA, or a taxable brokerage account. Traditional IRAs are less appealing for short-term investing because there are tax penalties when you withdraw from the account before age 59 and a half.Unlike traditional IRAs, Roth IRA contributions can be withdrawn at any time and for any reason without taxes or penalties. That makes a Roth IRA a perfect “multitasking” account for younger investors who need to build up both an emergency fund and retirement assets. Roth IRAs also allow you to withdraw up to $10,000 of earnings (in addition to any contributions) to help pay for a down payment on a first home if the account has been open for at least five years. Finding the right investments to meet near-term goals Unlike a long-term portfolio, which has a timeline of 10-plus years, the main goal of a short-term portfolio should be to outpace inflation while protecting what you’ve saved. Maximizing portfolio growth is less of a priority because the added risk likely isn’t worth the reward. Being able to buy a home in three years feels very different from affording it in seven because your investments lost value in the interim.Common mistakes that investors make are either in taking on too much risk or not enough. Some investors might assume that because stocks have beaten other asset classes over long time periods, they’re also a good choice for the short termbut they aren’t.Other investors might stick with guaranteed products, like CDs or money market accounts, because they’re concerned about protecting their savings. This approach leaves them at a disadvantage because inflation will eat into the value of those savings. Holding cash-type investments is a good idea if your timeline is super shortless than two years. Short-term investment portfolio examples Explore model portfolios that show what reasonable short-term portfolios look like. The portfolios consist of cash and shorter-term bonds. You might include a dash of stocks for growth potential, but the bulk of your money for short-term goals should be in safer, lower-returning assets. This article was provided to The Associated Press by Morningstar. For more personal finance content, go to https://www.morningstar.com/personal-financeMargaret Giles is a senior editor of content development at Morningstar. Margaret Giles, Morningstar
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Shares in Hims & Hers Health, Inc. (NYSE: HIMS) are skyrocketing in early-morning trading today after the telehealth company announced a new partnership with the Danish pharmaceutical giant Novo Nordisk. That partnership will see Hims & Hers offer Novo Nordisks weight-loss drug Wegovy through its platform. Heres what you need to know. Hims & Hers will offer weight-loss drug Wegovy Hims & Hers Health announced today that it has entered into a long-term collaboration with Danish drugmaker Novo Nordisk to offer its popular weight-loss drug Wegovy to its users through the Hims & Hers platform. The news sent HIMS shares soaring in early-morning trading. Novo Nordisk is the maker of the Wegovy weight-loss drug. The popular GLP-1 drug is often prescribed for those who wish to manage their obesity and lose weight. In recent years, people who have struggled to lose weight via traditional diet and exercise regimens have increasingly turned to GLP-1 medications. The collaboration between Hims & Hers and Novo Nordisk will see the telehealth companys platform integrated with Novo Nordisks NovoCare Pharmacy, allowing Hims & Hers users to acquire all dose strengths of the Wegovy weight loss drug. The aim of the partnership is to blend Hims & Hers’s holistic telehealth offering with proven weight-loss medication and to offer the drug to self-paying patients. Hims & Hers says that the medication, along with a required Hims & Hers membership, will be offered to users for $599 per month. It will begin offering the drug this week. HIMS stock surges Shortly after Hims & Hers announced the Novo Nordisk Wegovy collaboration, HIMS stock surged in premarket trading this morning. As of the time of this writing, in early-morning trading, HIMS stock is currently up over 26% to over $36 per share. The stock surge suggests that investors see the Novo Nordisk collaboration as a potential major accelerator for Hims & Hers memberships that could lead to increased recurring monthly revenue. However, at around $36 per share, Hims & Hers stock price is still well below its all-time high of nearly $73 per share in February. That month, the company released its Q4 results and announced that it would stop offering compounded semaglutide, the active ingredient used in Wegovy and similar GLP-1 weight loss drugs, CNBC noted. In May 2024, Hims & Hers stock surged after it had been allowed to offer a compounded semaglutide due to a semaglutide shortage. But once the U.S. Food and Drug Administration (FDA) declared that the shortage had resolved, Hims & Hers could no longer offer the compounded drug. HIMS stock sank 22% after that announcement in February, reported CNBC at the time. Its understandable, then, why HIMS shares are surging so much in trading today after the company announced once again that it would be able to offer a GLP-1 weight loss drugand not just a compounded version, but the brand-name version, Wegovy. With todays stock surge, HIMS shares are now up nearly 48% year-to-date. Over the past year, HIMS shares have now surged nearly 185%.
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