The northern part of India has been hit by a fresh blow of a cold wave. The capital experienced its coldest day of the season with temperatures plummeting below 2 degrees Celsius.

WION Climate Tracker: North India to experience cold wave till January 18

A plane carrying 72 people on board crashed in Nepal's Pokhara on Sunday. The incident claimed at least 68 lives. In the wake of the crash, the Nepali government has now mandated a technical test for flights to be conducted before departure. Watch to know more.

Nepal Plane Crash: Five Indians were on board the Yeti airlines ATR-72 flight

A new Oxfam report titled “Survival of the Richest” has revealed that over the last 10 years, billionaires of the world have doubled their wealth. The wealthiest one per cent has gained 74 per cent over the bottom 50 per cent. On Monday, revealing the report’s findings, the aid group suggested that by 2030, the number of billionaires should be reduced by half. For this, it suggests the implementation of measures like higher taxes and other policies that make the world more equal.

The report comes as the global elite are set to meet for their annual gathering in Davos. Starting Monday, as per AFP, the Swiss Alpine Village will host political leaders, CEOs and celebrities for the week-long World Economic Forum meeting.

As per Oxfam, since 2020, even as inflation outpaced wages for at least 1.7 billion people worldwide, the wealth of billionaires has surged by $2.7 billion a day. By the end of 2021, the wealthiest had pocketed $26 trillion or 63 per cent of the total new wealth. The rest went to the remaining 99 per cent of the global population.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/profiting-from-pain-covid-created-a-billionaire-every-30-hours-oxfam-at-davos-forum-481336">'Profiting from Pain': Covid created a billionaire every 30 hours — Oxfam at Davos forum</a>

To somewhat level the playing field, the group called for taxes that progressively redistribute wealth.

Citing a report by ProPublica, a US-based investigative news group, Oxfam said that with Elon Musk facing a “true tax rate” of just 3.2 per cent between 2014-18 and Jeff Bezos paying less than one per cent, it is clear that the wealthiest hardly pay any taxes.

In contrast, 99 per cent pay more taxes. Oxfam presents, as an example, a Ugandan market trader that works with the organisation, and remarks that he pays more than tenfold to the billionaires at 40 per cent.

Also read |&nbsp;<a data-ctorig="https://www.wionews.com/world/elon-musk-no-longer-worlds-richest-man-check-who-is-542818" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/world/elon-musk-no-longer-worlds-richest-man-check-who-is-542818&amp;sa=U&amp;ved=2ahUKEwi58q-kksv8AhXzgVYBHXyaAJ0QFnoECAYQAg&amp;usg=AOvVaw2aMKmJB9gYEdGBH47ham7E" dir="ltr" href="https://www.wionews.com/world/elon-musk-no-longer-worlds-richest-man-check-who-is-542818" target="_blank">Elon Musk no longer world's richest man. Check who is</a>

It called for a permanent tax increase on the rich, with a minimum 60 per cent tax on their income from labour and capital.

Oxfam said, “the world should aim to halve the wealth and number of billionaires between now and 2030, both by increasing taxes on the top one per cent and by adopting other billionaire-busting policies”.

As per the group, this would help bring the number of billionaires down to 2012 levels, adding that the “eventual aim should be to go further, and to abolish billionaires altogether, as part of a fairer, more rational distribution of the world’s wealth.”

(With inputs from agencies)

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A new Oxfam report titled “Survival of the Richest” has revealed that over the last 10 years, billionaires of the world have doubled their wealth. The wealthiest one per cent has gained 74 per cent over the bottom 50 per cent.

A new Oxfam report titled “Survival of the Richest” has revealed that over the last 10 years, billionaires of the world have doubled their wealth. The wealthiest one per cent has gained 74 per cent over the bottom 50 per cent. On Monday, revealing the report’s findings, the aid group suggested that by 2030, the number of billionaires should be reduced by half. For this, it suggests the implementation of measures like higher taxes and other policies that make the world more equal. The report comes as the global elite are set to meet for their annual gathering in Davos. Starting Monday, as per AFP, the Swiss Alpine Village will host political leaders, CEOs and celebrities for the week-long World Economic Forum meeting. As per Oxfam, since 2020, even as inflation outpaced wages for at least 1.7 billion people worldwide, the wealth of billionaires has surged by $2.7 billion a day. By the end of 2021, the wealthiest had pocketed $26 trillion or 63 per cent of the total new wealth. The rest went to the remaining 99 per cent of the global population. Also read | 'Profiting from Pain': Covid created a billionaire every 30 hours — Oxfam at Davos forum To somewhat level the playing field, the group called for taxes that progressively redistribute wealth. Citing a report by ProPublica, a US-based investigative news group, Oxfam said that with Elon Musk facing a “true tax rate” of just 3.2 per cent between 2014-18 and Jeff Bezos paying less than one per cent, it is clear that the wealthiest hardly pay any taxes. In contrast, 99 per cent pay more taxes. Oxfam presents, as an example, a Ugandan market trader that works with the organisation, and remarks that he pays more than tenfold to the billionaires at 40 per cent. Also read | Elon Musk no longer world's richest man. Check who is It called for a permanent tax increase on the rich, with a minimum 60 per cent tax on their income from labour and capital. Oxfam said, “the world should aim to halve the wealth and number of billionaires between now and 2030, both by increasing taxes on the top one per cent and by adopting other billionaire-busting policies”. As per the group, this would help bring the number of billionaires down to 2012 levels, adding that the “eventual aim should be to go further, and to abolish billionaires altogether, as part of a fairer, more rational distribution of the world’s wealth.” (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

‘Survival of the Richest’: For a more equal world, cut down number of billionaires by half, suggests Oxfam 

German police have the upper hand in protest by climate activists against expansion of a coal mine that has become a huge bone of contention. German police says that they have removed almost all climate activists from a German village that will soon be destroyed.

German Police: Almost all climate activists removed from site

Electric vehicles, a promising technology that is gaining traction worldwide . These green vehicles do not emit Carbon Dioxide and other harmful pollutants.

More EVs on the road but charging stations can't keep up

World's glaciers are shrinking and disappearing faster than scientists previously thought! A new study, published in the journal Science by Carnegie Mellon University, has found that, in the worst-case scenario, 2 out of every 3 glaciers can disappear by the end of this century if fossil fuel use continues unabated.

2 out of every 3 glaciers to disappear by 2021

Israel’s health ministry has ordered a halt to French caesarian sections. This is a relatively new way of carrying out a c-section that’s gained popularity in recent years. However, doctors are concerned that the surgery could be accompanied by a higher rate of complications. WION’s Jodie Cohen explain.

French c-sections suspended in Israel

Magun, or thunderbolt, is a popular charm among the Yoruba people, commonly done to curb promiscuity. WION’s Louisa Olaniyi from Lagos, Nigeria tells you more.

What is the Magun charm phenomenon?

Nepal Plane Crash: Aircraft's black box found from debris

Nepal Plane Crash: 68 passengers, 4 crew members on borad the Yeti airlines aircraft

 'It happened crazy fast': California battles more rain and snow, residents evacuate- see pics

Amid&nbsp;severe heatwaves in New Zealand last year, scientists said that water around the country's South Island is almost six&nbsp;degrees Celsius (42.8 Fahrenheit) warmer&nbsp;than usual temperature due to climate change, the weather phenomenon La Nina and a series of high pressure. Joao de Souza, a met service oceanographer, who is a part of the Moana Project, said that waters are&nbsp;above normal for this time of the year, Reuters reported.

The Moana Project said that the temperature is four degrees above&nbsp;average.&nbsp;

<a href="https://www.wionews.com/science/coral-bleaching-loss-of-food-leading-to-unnecessary-fish-fights-marine-ecologists-549440">Also read |&nbsp;Coral bleaching, loss of food leading to ‘unnecessary’ fish fights: Marine ecologists</a>

Souza said that these temperatures will have significant consequences for an ecosystem that is built or adapted to cold waters. He said, "There are always going to be winners and losers,"&nbsp;&nbsp;with those water&nbsp;species that cannot shift their location are more likely to be impacted.

He added that the research showed that it is&nbsp;just not surface water temperatures that are rising but also water as deep as&nbsp;100 metres, meaning that the marine heatwave is also&nbsp;impacting species that live in deep&nbsp;water.

<a href="https://www.wionews.com/science/once-thought-to-be-fossil-death-bed-could-be-an-ancient-maternity-ward-says-study-544854">Also read |&nbsp;What was once thought to be marine reptile death bed could be an ancient maternity ward: Study</a>

The scientist said that all scientists in the region anticipate that the marine temperature is expected to remain above normal till April this year.&nbsp;

New Zealand experienced several marine heatwaves last year with Fiordland's resulting in severe bleaching of native sponges.&nbsp;

The marine heatwave in New Zealand comes as the&nbsp;La Nina weather pattern caused warmer temperatures.

(With inputs from agencies)

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Amid severe heatwaves in New Zealand last year, scientists said that water around the country's South Island is almost six degrees Celsius (42.8 Fahrenheit) warmer than usual temperature due to climate change, the weather phenomenon La Nina and a series of high pressure.

Amid severe heatwaves in New Zealand last year, scientists said that water around the country's South Island is almost six degrees Celsius (42.8 Fahrenheit) warmer than usual temperature due to climate change, the weather phenomenon La Nina and a series of high pressure. Joao de Souza, a met service oceanographer, who is a part of the Moana Project, said that waters are above normal for this time of the year, Reuters reported. The Moana Project said that the temperature is four degrees above average. Also read | Coral bleaching, loss of food leading to ‘unnecessary’ fish fights: Marine ecologists Souza said that these temperatures will have significant consequences for an ecosystem that is built or adapted to cold waters. He said, "There are always going to be winners and losers," with those water species that cannot shift their location are more likely to be impacted. He added that the research showed that it is just not surface water temperatures that are rising but also water as deep as 100 metres, meaning that the marine heatwave is also impacting species that live in deep water. Also read | What was once thought to be marine reptile death bed could be an ancient maternity ward: Study The scientist said that all scientists in the region anticipate that the marine temperature is expected to remain above normal till April this year. New Zealand experienced several marine heatwaves last year with Fiordland's resulting in severe bleaching of native sponges. The marine heatwave in New Zealand comes as the La Nina weather pattern caused warmer temperatures. (With inputs from agencies) WATCH WION LIVE HERE

New Zealand's southern waters witnessing marine heatwave, say scientists

A new report by the aid group Oxfam has revealed that in 2021, India’s top one per cent owned about half its wealth. It also showed that the number of billionaires in the country increased from 102 in 2020, to 166 in the year 2022. This is as per the report as the poor in India “are unable to afford even basic necessities to survive”.

Oxfam in its report titled ‘Survival of the Richest: The India Story,’ says that “inequalities are growing in India,” and that the impact of this is “especially stark at the margins of the Indian society, with some communities such as the Scheduled Tribes (STs) suffering from physical remoteness and systematic exclusion from the means to achieve vertical mobility.”

Watch |&nbsp;WION at Davos 2023: Gathering of global elite amid recession fear

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As per the report, the concentration of wealth “continues to be around primordial characteristics such as caste,” and there is a “persistence of marginalisation” among the historically disadvantaged elements of the society who are still trapped in intergenerational poverty.

The report claims that following the COVID-19 pandemic, the bottom 50 per cent of the population in India has seen its “wealth chipped away”. Between May and December 2022, inflation consistently breached the six per cent statutory limit set out in the amended Reserve Bank of India Act, 1934.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/survival-of-the-richest-for-a-more-equal-world-cut-down-number-of-billionaires-by-half-suggests-oxfam-552962">‘Survival of the Richest’: For a more equal world, cut down number of billionaires by half, suggests Oxfam&nbsp;</a>

By the year 2020, this chunk of the population accounted for a mere 13 per cent of the country’s national income, and less than three per cent of its total wealth.&nbsp;This is because the top 30 per cent has accumulated&nbsp;more than 90 per cent of the wealth, and among them, the top 10 per cent own more than 80 per cent of the wealth.

Also read |&nbsp;<a href="https://www.wionews.com/world/profiting-from-pain-covid-created-a-billionaire-every-30-hours-oxfam-at-davos-forum-481336">'Profiting from Pain': Covid created a billionaire every 30 hours — Oxfam at Davos forum</a>

Oxfam's report also revealed that shockingly, the top five per cent have nearly 62 per cent of the wealth, while the top one per cent owns around 40.6 per cent of it.

The report goes on to say that the nation’s bottom 50 per cent pays six times more indirect tax than the wealthiest 10 per cent and says that “imposing a tax on the wealth of the richest” is a solution it has rallied behind for years.

(With inputs from agencies)

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A new report by the aid group Oxfam has revealed that in 2021, India’s top one per cent owned about half its wealth. It also showed that the number of billionaires in the country increased from 102 in 2020, to 166 in the year 2022.

A new report by the aid group Oxfam has revealed that in 2021, India’s top one per cent owned about half its wealth. It also showed that the number of billionaires in the country increased from 102 in 2020, to 166 in the year 2022. This is as per the report as the poor in India “are unable to afford even basic necessities to survive”. Oxfam in its report titled ‘Survival of the Richest: The India Story,’ says that “inequalities are growing in India,” and that the impact of this is “especially stark at the margins of the Indian society, with some communities such as the Scheduled Tribes (STs) suffering from physical remoteness and systematic exclusion from the means to achieve vertical mobility.” Watch | WION at Davos 2023: Gathering of global elite amid recession fear As per the report, the concentration of wealth “continues to be around primordial characteristics such as caste,” and there is a “persistence of marginalisation” among the historically disadvantaged elements of the society who are still trapped in intergenerational poverty. The report claims that following the COVID-19 pandemic, the bottom 50 per cent of the population in India has seen its “wealth chipped away”. Between May and December 2022, inflation consistently breached the six per cent statutory limit set out in the amended Reserve Bank of India Act, 1934. Also read | ‘Survival of the Richest’: For a more equal world, cut down number of billionaires by half, suggests Oxfam By the year 2020, this chunk of the population accounted for a mere 13 per cent of the country’s national income, and less than three per cent of its total wealth. This is because the top 30 per cent has accumulated more than 90 per cent of the wealth, and among them, the top 10 per cent own more than 80 per cent of the wealth. Also read | 'Profiting from Pain': Covid created a billionaire every 30 hours — Oxfam at Davos forum Oxfam's report also revealed that shockingly, the top five per cent have nearly 62 per cent of the wealth, while the top one per cent owns around 40.6 per cent of it. The report goes on to say that the nation’s bottom 50 per cent pays six times more indirect tax than the wealthiest 10 per cent and says that “imposing a tax on the wealth of the richest” is a solution it has rallied behind for years. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Even as India's poor 'are unable to afford basic necessities to survive', the rich are getting richer: Oxfam

In the latest change in the tech sector, both Facebook parent Meta and Microsoft are vacating their respective office buildings in Seattle and Bellevue in&nbsp;Washington, Seattle&nbsp;Times reported. Facebook on Friday confirmed that it plans to sublease both its offices, one at the six-story Arbor Block 333 in downtown Seattle, and the other at the 11-storey Block 6 of the Spring District in Bellevue. 
 
The Seattle Times&nbsp;also said that this announcement came as the demand for offices in Seattle decreased by the continuous rise of remote work and a tech slowdown that resulted in massive&nbsp;layoffs. It also said that Redmond-based Microsoft confirmed the reports that it won't renew its lease at the 26-storey City Centre plaza in Bellevue when that&nbsp;lease ends in 2024.&nbsp;

Watch |&nbsp;World Business Watch: Microsoft and Meta vacating offices in the US

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The media outlet also reported that both Microsoft and Meta have embraced remote work while it announced layoffs of over 700 Seattle-area workers.

Tracy Clayton, a Meta spokesperson told Seattle Times that the recent leasing decision has been primarily driven by the company's move toward&nbsp;remote.&nbsp;He also said that "Meta is also trying to be...financially prudent."

<a href="https://www.wionews.com/technology/apple-and-meta-fall-from-list-of-best-places-to-work-as-per-new-ranking-of-glassdoor-552021">Also read |&nbsp;Apple and Meta lose spot among 100 best places to work in Glassdoor survey after a decade</a>

Clayton also said that Meta still occupies around 29 buildings, and almost 8,000 workers in Seattle, being the company's second-largest engineering hub.

While a Microsoft spokesperson said that this decision is&nbsp;characterised&nbsp;by the firm's ongoing evaluation of its "real estate portfolio to ensure we provide an exceptional place to work and create greater collaboration and community for our employees." 
 
The Seattle Times also said that even the non-vacant offices are almost half-empty, owing to remote work. 
 
Since last summer, Seattle has&nbsp;only 40 per cent of the workers present before the pandemic.

(With inputs from agencies)

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In the latest change in the tech sector, both Facebook parent Meta and Microsoft are vacating their respective office buildings in Seattle and Bellevue in Washington, Seattle Times reported.

In the latest change in the tech sector, both Facebook parent Meta and Microsoft are vacating their respective office buildings in Seattle and Bellevue in Washington, Seattle Times reported. Facebook on Friday confirmed that it plans to sublease both its offices, one at the six-story Arbor Block 333 in downtown Seattle, and the other at the 11-storey Block 6 of the Spring District in Bellevue. The Seattle Times also said that this announcement came as the demand for offices in Seattle decreased by the continuous rise of remote work and a tech slowdown that resulted in massive layoffs. It also said that Redmond-based Microsoft confirmed the reports that it won't renew its lease at the 26-storey City Centre plaza in Bellevue when that lease ends in 2024. Watch | World Business Watch: Microsoft and Meta vacating offices in the US The media outlet also reported that both Microsoft and Meta have embraced remote work while it announced layoffs of over 700 Seattle-area workers. Tracy Clayton, a Meta spokesperson told Seattle Times that the recent leasing decision has been primarily driven by the company's move toward remote. He also said that "Meta is also trying to be...financially prudent." Also read | Apple and Meta lose spot among 100 best places to work in Glassdoor survey after a decade Clayton also said that Meta still occupies around 29 buildings, and almost 8,000 workers in Seattle, being the company's second-largest engineering hub. While a Microsoft spokesperson said that this decision is characterised by the firm's ongoing evaluation of its "real estate portfolio to ensure we provide an exceptional place to work and create greater collaboration and community for our employees." The Seattle Times also said that even the non-vacant offices are almost half-empty, owing to remote work. Since last summer, Seattle has only 40 per cent of the workers present before the pandemic. (With inputs from agencies) WATCH WION LIVE HERE

Remote work and mass layoffs push Meta and Microsoft to vacate Seattle offices: Reports

In what comes as a gigantic step for women's cricket and especially Women's IPL (WIPL), broadcasting giant Viacom 18 on Monday acquired the media rights for the tournament.

In what comes as a gigantic step for women's cricket and especially Women's IPL (WIPL), broadcasting giant Viacom 18 on Monday acquired the media rights for the tournament. Viacom 18 won media rights for WIPL for a period of five years (2023-2027) for $116.7 million with per match value coming down to approximately $857,000. The tournament will be starting in March 2023 and is likely to be completed in a one-month window. BCCI Secretary Jay Shah took to Twitter to inform about the landmark deal and said it was a historic mandate for the women's game. "After pay equity, today's bidding for media rights for Women's IPL marks another historic mandate. It's a big and decisive step for empowerment of women's cricket in India, which will ensure participation of women from all ages. A new dawn indeed!" Congratulations @viacom18 for winning the Women’s @IPL media rights. Thank you for your faith in @BCCI and @BCCIWomen. Viacom has committed INR 951 crores which means per match value of INR 7.09 crores for next 5 years (2023-27). This is massive for Women’s Cricket 🙏🇮🇳 — Jay Shah (@JayShah) January 16, 2023 × A closed-bid auction method was used to decide the winner. Eight bidders had bought the tender document for the media rights which was put on sale last month. Unlike IPL media rights, which were divided into different categories and awarded to different broadcasters, Viacom 18 will have access to linear (TV), digital and combined (TV and digital). It was in October last year that the BCCI, after years of dillydallying finally decided to greenlight the women's version of the IPL. The inaugural edition is expected to be a five-team affair. According to various media reports, owners of men's IPL teams such as Delhi Capitals, Chennai Super Kings, Kolkata Knight Riders, Sunrisers Hyderabad, Gujarat Titans ad Punjab Kings are among those who have submitted bids. BCCI has set January 23 as the deadline for technical bids for the same to be submitted. Meanwhile, the maiden players' auction is expected to take place next month. WIPL will replace the Women’s T20 Challenge, which was a two-team tournament that started off in 2018 with just one match. It then grew to a three-team exhibition tournament in the following year, and then took place in 2020 and 2022 as well. Read more: BCCI approves women's IPL, first edition to be staged in 2023 Women's cricket has been on the precipice of a major turnaround for quite some time now. WIPL is expected to revolutionise the women's game, just the way IPL did for the men's game. (With inputs from agencies) WATCH WION LIVE HERE:

BIG! Viacom 18 bags Women's IPL media rights for $116 million over a five-year period

Large areas of eastern Ukraine were experiencing electricity cuts, Ukrainian officials said, across regions after attack by Russian troops. Watch further to know more.

War in Ukraine: Dnipro pummeled, hundreds without power | Russian strikes

At least 40 bodies recovered in the Pokhara plan crash in Nepal. Rescue operations are underway and the airport is closed for the time being. Watch further to know more.

Nepal Plane Crash: Aircraft crashes with 72 people on board

Nepal Plane Crash: Pokhara bound flight crashes 20 minutes after leaving Kathmandu

Nepal Plane Crash: Aircraft crashes between old airport, Pokhara International Airport

China has resumed its high-speed rail services which will operate between Hong Kong and the mainland. This is the first time after the Covid-19 pandemic and the lifting of traveling curbs that the services have resumed.

China: Rail services begin after three year long Covid-19 pandemic break

Rain, snow and strong winds moved into storm last California again on the weekend, bringing heavy flooding to already waterlogged regions in the state. The US National Weather Service says the latest weather system was expected to bring heavy lower elevation rain, significant mountain snow and strong winds along with this another surge of Pacific moisture expected in the Californian State.

California: Significant mountain snow, strong winds expected

The Global elites are gathering in Davos for the Annual Summit 2023. Last year Russia's invasion of Ukraine dominated the discourse in forum but this time, other teams are expected to form the agenda of the annual event.

WION at Davos 2023: Gathering of global elite amid recession fear

Thousands of teachers from across Portugal joined a protest in Lisbon demanding better working conditions and higher pay. Reports quoted police saying that more than 20,000 people joined the March that was called by the Union of all education professionals.

Portugal: Thousands of teachers from across the country protest in Lisbon

Nepal Plane Crash: Six children, including three infants were on board the flight

In the wake of the tragic plane crash in Nepal's Pokhara, a look back at the Himalayan nation's history of similar incidents in the recent past shows up a series of aviation disasters.

Decoding the disasters: Nepal's troubled history of plane crashes

Peru has announced a state of emergency amid weeks-long protests against the country's President Dina Boularte that have killed at least 42 people so far. The 30-day long emergency imposed today covers Lima regions of Cusco and Puno and the port of Kalau adjacent to the Peruvian Capital.

Peru: Country declares emergency amid protests for 30 days

Gabrielle, a fashion designer, model and sewing instructor from Texas has won the Miss Universe title. Thumping music was in the air when she was crowned with the tiara.

WION Fineprint | Miss Universe 2022: US' R'Bonney Gabriel crowned with the title

Thousands of National Health Service nurses and ambulance workers went on strike because of overpay. The UK cabinet seems to be at war internally over the health budget.

WION Fineprint | NHS Crisis: Cabinet split over pay hike to striking workers | UK

WION Fineprint | Nepal Plane Crash: At least 20 bodies have been identified so far

A New York-based tech firm has created a much-needed lab-grown alternative to palm oil, that has for years been behind the deforestation of some of the world’s most diverse forests and the destruction of the habitat of multiple endangered species.

US Tech firm C16 Biosciences has come up with “Palmless”, an alternative to palm oil that is made from yeast cells. The product was recently released commercially to try and “reduce the world’s reliance on palm oil”, says Shara Ticku, CEO of the company.

Watch |&nbsp;WION Climate Tracker: EU plans to ban products linked to deforestation

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The alternative makes use of a unique strain of yeast called metschnikowia pulcherrima, or MP. As per Chris Chuck, professor of bioprocess engineering at the University of Bath, who along with his team is behind the innovation, MP is not fussy and can be fed grass and food waste.

While traditional palm oil production takes around seven years, ‘palmless’ reportedly takes “less than seven days from start to finish”.

Also read |&nbsp;<a href="https://www.wionews.com/science/scientists-find-the-chocolaty-secret-to-chocolates-sweetness-552453">Scientists find the chocolaty secret to chocolate's sweetness</a>

Accounting for over 40 per cent of the world’s vegetable oil usage, Palm oil continues to dominate the market. The tasteless, colourless and odourless oil is equally popular with cosmetic makers and food companies. It owes its popularity to the fact that it doesn’t change the taste or look of the product but instead acts as a natural preservative.

What’s problematic about its usage is the widely documented and significant deforestation it leads to. The tree can grow in low-lying, hot, humid areas near the equator, 85 per cent of which is in Indonesia and Malaysia, areas home to endangered species like the Orangutan, pygmy elephant and Sumatran rhino.

Also read |&nbsp;<a href="https://www.wionews.com/photos/from-unilever-to-nestle-heres-how-much-palm-oil-companies-use-as-indonesia-imposes-a-ban-on-it-473809">From Unilever to Nestle: Here's how much palm oil companies use as Indonesia imposes a ban on it</a>

In 2020, 28.7 million hectares of land were in use for palm oil conservation, a nine-fold increase from 3.3 million hectares in 1970.

As per BBC, Ticku, the person behind C16 Biosciences, got the idea for Palmless back in 2013, when on a visit to Singapore she was forced to wear a mask due to the toxic air because of Indonesia’s burning rainforests.

(With inputs from agencies)

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A New York-based tech firm has created a much-needed lab-grown alternative to palm oil, that has for years been behind the deforestation of some of the world’s most diverse forests and the destruction of the habitat of multiple endangered species.

A New York-based tech firm has created a much-needed lab-grown alternative to palm oil, that has for years been behind the deforestation of some of the world’s most diverse forests and the destruction of the habitat of multiple endangered species. US Tech firm C16 Biosciences has come up with “Palmless”, an alternative to palm oil that is made from yeast cells. The product was recently released commercially to try and “reduce the world’s reliance on palm oil”, says Shara Ticku, CEO of the company. Watch | WION Climate Tracker: EU plans to ban products linked to deforestation The alternative makes use of a unique strain of yeast called metschnikowia pulcherrima, or MP. As per Chris Chuck, professor of bioprocess engineering at the University of Bath, who along with his team is behind the innovation, MP is not fussy and can be fed grass and food waste. While traditional palm oil production takes around seven years, ‘palmless’ reportedly takes “less than seven days from start to finish”. Also read | Scientists find the chocolaty secret to chocolate's sweetness Accounting for over 40 per cent of the world’s vegetable oil usage, Palm oil continues to dominate the market. The tasteless, colourless and odourless oil is equally popular with cosmetic makers and food companies. It owes its popularity to the fact that it doesn’t change the taste or look of the product but instead acts as a natural preservative. What’s problematic about its usage is the widely documented and significant deforestation it leads to. The tree can grow in low-lying, hot, humid areas near the equator, 85 per cent of which is in Indonesia and Malaysia, areas home to endangered species like the Orangutan, pygmy elephant and Sumatran rhino. Also read | From Unilever to Nestle: Here's how much palm oil companies use as Indonesia imposes a ban on it In 2020, 28.7 million hectares of land were in use for palm oil conservation, a nine-fold increase from 3.3 million hectares in 1970. As per BBC, Ticku, the person behind C16 Biosciences, got the idea for Palmless back in 2013, when on a visit to Singapore she was forced to wear a mask due to the toxic air because of Indonesia’s burning rainforests. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'Palmless': US company comes up with an alternative to palm oil

Climate activists demonstrated against large oil companies at the World Economic Forum (WEF), claiming that these energy giants were monopolising the debate on climate change in Davos, according to a Reuters report.

Among the 1,500 corporate leaders gathered for the annual meeting in the Swiss resort are major oil companies like BP, Chevron, and Saudi Aramco, during which global issues, including climate change, will be discussed.

"We are demanding concrete and real climate action," Nicolas Siegrist, the 26-year-old organiser of the protest who also heads the Young Socialists party in Switzerland, told Reuters.

Watch |&nbsp;World Business Watch: Climate activist protest in Davos over role of oil firms in WEF

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On Monday in Davos, the annual gathering of top business and political figures gets underway, with the summit calling on leaders from across the globe to address immediate economic, energy and food crises while laying the groundwork for a more sustainable and resilient world.

"They (big oil firms) will be in the same room with state leaders, and they will push for their interests," Siegrist said of the involvement of energy companies at the WEF meeting.

Fossil fuels will continue to play a significant role in the global energy mix as nations move to low-carbon economies, according to the oil and gas sector, which has stated that it must be a part of the energy transition.

In a snowy Davos square, more than a hundred protesters screamed, "Change your diet for the climate, eat the rich," while others booed oil companies, according to the Reuters report.

<a href="https://www.wionews.com/business-economy/walt-disney-and-investor-activist-nelson-peltz-to-face-off-on-boardroom-seat-551766">Also read |&nbsp;Walt Disney and investor activist Nelson Peltz to face off on boardroom seat</a>

"I know some of the companies are involved in alternatives, but I think governments, with their subsidies, have to skew the field in favour of alternative energy," Heather Smith, a member of the 99 per cent organisation, told Reuters.

Smith was holding a sign saying "Stop Rosebank", a North Sea oil and gas field she is campaigning to halt plans for.

"There is still too much money to be made from fossil fuel investments," added Smith.

Renewable energy development financing has become more difficult to secure due to rising interest rates, giving established businesses with substantial financial resources a competitive edge.

(With inputs from agencies)

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Climate activists demonstrated against large oil companies at the World Economic Forum (WEF), claiming that these energy giants were monopolising the debate on climate change in Davos, according to a Reuters report.

Climate activists demonstrated against large oil companies at the World Economic Forum (WEF), claiming that these energy giants were monopolising the debate on climate change in Davos, according to a Reuters report. Among the 1,500 corporate leaders gathered for the annual meeting in the Swiss resort are major oil companies like BP, Chevron, and Saudi Aramco, during which global issues, including climate change, will be discussed. "We are demanding concrete and real climate action," Nicolas Siegrist, the 26-year-old organiser of the protest who also heads the Young Socialists party in Switzerland, told Reuters. Watch | World Business Watch: Climate activist protest in Davos over role of oil firms in WEF On Monday in Davos, the annual gathering of top business and political figures gets underway, with the summit calling on leaders from across the globe to address immediate economic, energy and food crises while laying the groundwork for a more sustainable and resilient world. "They (big oil firms) will be in the same room with state leaders, and they will push for their interests," Siegrist said of the involvement of energy companies at the WEF meeting. Fossil fuels will continue to play a significant role in the global energy mix as nations move to low-carbon economies, according to the oil and gas sector, which has stated that it must be a part of the energy transition. In a snowy Davos square, more than a hundred protesters screamed, "Change your diet for the climate, eat the rich," while others booed oil companies, according to the Reuters report. Also read | Walt Disney and investor activist Nelson Peltz to face off on boardroom seat "I know some of the companies are involved in alternatives, but I think governments, with their subsidies, have to skew the field in favour of alternative energy," Heather Smith, a member of the 99 per cent organisation, told Reuters. Smith was holding a sign saying "Stop Rosebank", a North Sea oil and gas field she is campaigning to halt plans for. "There is still too much money to be made from fossil fuel investments," added Smith. Renewable energy development financing has become more difficult to secure due to rising interest rates, giving established businesses with substantial financial resources a competitive edge. (With inputs from agencies) WATCH WION LIVE HERE

Big oil firms will push their agenda at Davos, say protesting climate activists

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