Global Efforts Intensify to Tackle Escalating Plastic Waste Crisis
Nations are working towards a global agreement to combat plastic pollution, aiming to improve waste management and reduce plastic production to protect the planet and human health.
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Global Agreement
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"COP28 Climate Deal: Transitioning from Fossil Fuels Sparks Anger and Hope"
Representatives from nearly 200 countries reached a historic agreement at the COP28 climate summit in Dubai to begin reducing global consumption of fossil fuels, signaling the eventual end of the oil age. The deal calls for transitioning away from fossil fuels in a just and equitable manner, achieving net-zero emissions by 2050, tripling renewable energy capacity by 2030, reducing coal use, and accelerating technologies like carbon capture and storage. This agreement sends a powerful signal to investors and policymakers that the world is united in its commitment to combat climate change.
"Vietnam Joins Global Effort to Increase Tax Rates for Multinational Corporations"
Vietnam's parliament is expected to approve a top-up tax for multinationals, raising the effective corporate levy rate to 15% from January in line with a global agreement. The separate resolution to compensate large foreign investors affected by the higher levy, including Samsung and Intel, is not on the parliament's agenda. The controversial tax could reduce Vietnam's appeal among foreign companies if not accompanied by subsidies. The parliament initially ruled out a vote on the tax but has now added it back to its schedule. The new rules, guided by the OECD, will require companies paying less than 15% in a low-tax jurisdiction to face a top-up levy from next year.