Auquan's Weekly Wrap | 29th - October - 4th November: What you might have missed

Toxic polluting 'Big Pharma' manufacturers brace for regulatory water treatment costs. Greenwashing allegations for plastic producers misleading consumers in California. Japan sets $450 millionset aside for 6G development and research.

Auquan's Weekly Wrap | 29th - October - 4th November: What you might have missed
Source: DAM/019/6G_globe_Adobe_rm.jpg

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Big Pharma Toxic Waste Pollution


Following the Center for Popular Democracy's report last month (exposing major pharmaceutical companies' dumping of toxic waste in Puerto Rico) - pharma companies are now facing future financial implications. The European Commission has just this week revealed 'that 92 per cent of toxic micropollutants in water came from pharmaceuticals and personal care products and new rules would require companies to pay for the upgrade of water treatment plants required for their removal.' The commission estimated impact on manufacturers' profit margins of up to 0.9 per cent by 2040.

California Plastic Producer Probe

Jan Dell/Handout via REUTERS

The petrochemical and plastic industries are being heavily scrutinized for their role in the global plastic pollution crisis. Greenwashing allegations have spurred California's attorney general to demand  Novolex, Inteplast and Papier-Mettler substantiate claims that their bags used by California retailers are recyclable - with concerns over their misleading language and symbols that falsely suggest to consumers their bags can be recycled.

US Banks Cyber Ransomware Risk

A new record $1.2 billion in potential ransomware-related payments was recorded by US banks and financial institutions in 2021, a new report by FinCEN reveals. FinCEN said there were 1,489 ransomware incidents costing nearly $1.2 billion last year, a substantial rise from $416 million in damages recorded in 2020, according to the report.

6G Research Initiatives

Japan is betting on 6G technology to help Japanese companies compete with global telecommunications leaders. © Getty Images

Japan's Ministry of Internal Affairs and Communications will set aside 66.2 billion yen ($450 million) support research and development  into next-generation 6G wireless networks over several years. The technology is earmarked to offer communication speeds more than 10 times faster than current 5G standards and supposedly reduce power consumption - boosting global decabonisation efforts.

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