Suffolk Libraries online book festival returns next month

Arts & Culture, Books

This annual event invites people to enjoy online author talks, explore different genres, and find new books from home.

The festival will run from Friday, February 21 to Sunday, February 23 and feature live online talks with bestselling authors Stuart Turton, Becky Holmes, and Elly Griffiths.

The online author talks began during the pandemic and have remained popular for those who find it difficult to visit the library.

READ MORE: TikTok star with nearly 1 million followers visits UK’s happiest town in Suffolk

Lisa Brennan, Suffolk Libraries content and reader development librarian, said: “I love that our annual online festival can reach Suffolk Libraries customers who, for various reasons, aren’t able to come to our in-person author events.

“It’s so important to us to make sure those customers can enjoy as much of the amazing library services that we offer, including our author events, which they can watch from the comfort of their homes.”

Tickets cost £5 per event, with proceeds supporting Suffolk Libraries.

The events will also be live-streamed and will not be recorded.

Kabir is a portal not destination. Author sings Dhrupad with anti-caste verses at book launch

Arts & Culture, Books

New Delhi: In Pandharpur, a Dalit poet-saint, Chokhamela, composed fiery devotional poetry in quiet defiance, barred from the very temple he revered. His life, marked by rejection and resistance, ultimately came to an end when he passed away near the temple, his body lying just outside its doors, unable to enter, yet forever intertwined with the sacred space he had longed to touch.
“Chokhamela must have felt anger, whenever there was oppression. Listening to Chokhamela, I felt Kabir must have heard him too,” said Anand, Indian author, anti-caste publisher and now a Dhrupad singer.
The launch of Anand’s latest book The Notbook of Kabir: Thinner than Water, Fiercer than Fire at the India Habitat Centre unfolded an exploration of music, spirituality, and anti-caste resistance. The author’s tanpura performance took centre stage. Through different Bhakti-era poets’ verses, Anand rediscovered music as an act of rebellion, intertwining the legacies of BR Ambedkar, Kabir, and Chokhamela. The event was followed by a discussion with Dhrupad singer F Wasifuddin Dagar and food historian Pushpesh Pant.

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In his book, Anand talks about how Kabir, the 15th-century poet-saint, transcended the boundaries of his time, caste, and region. His words, once confined to the mystic traditions of his era, have now become universal, resonating across cultures, languages, and generations.

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Anand’s journey extended beyond the iconic poet-saint. He began to explore the broader Bhakti tradition-poets who, like Kabir, took anti-Sanskrit, anti-Vedic, and anti-Brahminical positions.“Kabir is a portal, not an endpoint. He opens the door to an entire anti-caste Bhakti movement. Through him, I found other poets—Chokhamela, Gorakhnath, Namdev—who sang from the margins, offering truths too bitter for the caste elites,” he writes in his book.

Also read: Dhrupad, Dalit poetry, Ghalib — how a Delhi singer is questioning purity in music
Journey through music
Anand sat cross-legged, his Tanpura resting on his legs, the soft hum of the strings filling the room, creating an intimate, resonating atmosphere. He opened with his own lyric, “Na Om na Greem bas Jai Bhim (Neither Om nor Greem [a Sanskrit seed mantra often linked to Tantric or esoteric practices] only Jai Bhim).”Ambedkar led Anand to Kabir, and soon Kabir’s presence was everywhere—in the people around him, within Anand himself, and in the world at large.His relationship with music had been marked by rupture and rediscovery. Trained in Carnatic music for seven years, he walked away from it in 1999, disillusioned by its rigid Brahminical framework. For over a decade, he dedicated himself to his publishing company, Navayana, which embraces Ambedkar’s ideas and vision while thoughtfully engaging with his critical limitations. He stayed away from music, and then, in 2013, a friend reintroduced him to Kabir, and something shifted.“Kabir became my brother, my companion,” he writes in his book. “His songs weren’t just melodies, they were lessons. It felt as though Kabir was whispering corrections to me as I sang.”
Anand holds the legacies of two figures close to his heart: Ambedkar and Behram Khan Saheb, a pioneering Dhrupad maestro, scholar, and pedagogue known for shaping the Dagar tradition.  To Anand, Behram Khan Saheb is the ‘Babasaheb of music’. Saheb created Sadharini Geeti, a simple and accessible style of teaching music. A contemporary of Mirza Ghalib and Jyotirao Phule, Saheb democratised music, mastering both its theory and practice, despite coming from a traditional musician family. To honour the gurus, Anand sang verses by Gorakhnath, an 11th-century Nath yogi whose poetry boldly rejected ritualistic and empty religious practices. The translation is as follows.I wouldn’t go with anyone;It has to be the spotless one.Colourless, spotless, nothing less,Nothing less than nothingness
Also read: Dagar, Rahman & music in the courtroom—Day 1 of Dhrupad maestro’s fight against film giants
The voice of Chokhamela
Kabir’s influence is omnipresent, his verses show up in textbooks, memes, and parodies, reflecting how his words have evolved beyond their original form. Kabir’s followers span across India and the world, and his poems, in dialects like Bhojpuri and Awadhi, continue to resonate with people seeking unity and devotion. Among the youth, Kabir has achieved a cult-like status. The Kabir Festival in Mumbai, dedicated to spreading his message, is one example of how his legacy is being celebrated today.Anand raised questions in his book about what Kabir would be like in today’s world. Would he sing at literary festivals for a well-heeled audience, or upload his jams to Instagram hoping to be discovered? Would he be lynched over misunderstandings, or weave and sing to the rhythm of his loom, indifferent to who listened? Perhaps Kabir, timeless as ever, would challenge the world by simply being himself.
“What kind of poetry did Kabir immerse himself in? What music filled his world?” Anand asked during his performance.In Kabir’s time, his verses weren’t locked in books or confined to performances, they lingered in the air, in hearts, and on tongues for days. Unlike the rigid timelines and boxed recordings of today, Kabir’s voice was timeless, fluid, and unbound.In the performance, Anand mentioned that Kabir, in his travels, had reached Pandharpur, the spiritual hub of the Marathi Abhang tradition (Marathi devotional poetry or song that praises the Hindu god Vitthala), where he could have crossed paths, at least in spirit, with Chokhamela, the 13th or 14th-century saint from Maharashtra.“Chokhamela was a labourer, an untouchable, and an ideal Harijan bhakt (as Gandhi had called him). He was from the same caste as BR Ambedkar,” Anand said.Despite his devotion, caste barriers loomed large over Chokhamela’s life. Inspired by Sant Namdev’s kirtans, Chokhamela moved with his wife to Pandharpur, home to the revered Vithoba temple. But he was barred from entering or even standing near the temple’s door. In the act of quiet resistance, he built a small hut across the Chandrabhaga River, where he lived, prayed, and composed his fiery Abhangs.
In the early 20th century, Ambedkar attempted to visit the same temple but was stopped at Chokhamela’s burial site.Chokhamela’s verses were searing critiques of the very structures that upheld the caste system. Anand sang one of his Abhangs, translated below.The Vedas are tainted, Shastra tainted,Puranas are tainted, so tainted.The self is a taint, the spirit tainted…The room pulsed with the weight of history and the audience lost themselves in the music with their eyes closed.Anand described the book as a collection of poems, and the reason it’s called the Notbook is that it doesn’t aim to present the authentic Kabir. He wondered whether Kabir created the ragas or borrowed them from folk traditions. Anand remarked that all ragas carry a folk element, as folk music inherently belongs to the people. In his view, Kabir’s message encourages us to live independently and to take charge of our own lives and actions. “Paanchon indriya vasme karo, aapno aap kabir (Control all five senses, and you will become Kabir yourself).”
“All that I’ve found of Kabir, all that I’ve written in my notebook—it’s stolen. It belongs to the artists before me, to the many voices that brought Kabir to life,” Anand said.(Edited by Theres Sudeep)

Cruise Tourism in Greece: A New Era of Growth

Travel

Who doesn’t dream of a Greek island cruise? It’s the reason global cruise operators are sending more ships to Greece. But as demand soars—National Geographic Traveller included Santorini as one of the top 25 islands to explore by cruise in 2025—so are calls for effective crowd management, especially on popular but very small Greek islands like Mykonos and Santorini. In 2023, cruise tourism in Greece contributed 2 billion euros to the domestic economy and 1 billion euros to GDP while supporting 22,600 jobs. Although cruise travelers account for just 21% of the nearly 35 million tourists visiting Greece each year, the country is growing into a premier cruise destination in the Mediterranean and Europe.To Vima International Edition spoke with Maria Deligianni, Regional Director for the Eastern Mediterranean at Cruise Lines International Association (CLIA), about the importance of cruise tourism for Greece and solutions to the emerging challenges.Greek Island Cruise: A Dream Come TrueIn 2023, the sector’s contribution to the Greek economy grew significantly, reaching 2 billion euros up from 1.4 billion euros in 2022, and the trend is expected to continue in 2024 and 2025. The industry’s economic impact extends beyond GDP, however, generating 500 million euros in wages. Of the 22,600 jobs created, 11,600 were linked to direct expenditures, 2,800 to cruise lines, 5,200 to indirect activities, and 3,000 to induced spending, says Deligianni.One of the key drivers of this upward trend is homeporting, which is when cruise companies select Greek ports as the start and end points of their itineraries. Homeporting has been a strategic priority for the Greek Tourism Ministry over the past decade, contributing significantly to the country’s tourism revenues.Cruises and OvertourismThe growing demand for cruise tourism, while beneficial, has placed a significant burden on small islands. In 2023, Santorini welcomed 800 cruise ship visits, while Mykonos hosted 749. According to Greek Tourism Confederation (SETE) data, these visits brought nearly 1.3 million passengers to Santorini and 1.2 million to Mykonos. Given their small size (76.19 km² and 105.2 km², respectively), these islands face immense challenges accommodating such large numbers of tourists when they arrive simultaneously.Island communities have repeatedly voiced concerns, urging the government to take action. Their calls prompted Greek Prime Minister Kyriakos Mitsotakis to announce measures last year which would include a cap on cruise ship arrivals, visitor quotas, and a levy on cruise tourism.Citing PM Mitsotakis, Deligianni is quick to note that overtourism is currently not a widespread issue in Greece. Recent studies also confirm this, indicating however that most Greeks support proactive measures to prevent problems in the future.“CLIA has worked closely with local authorities and communities to implement sustainable cruise tourism practices at each destination,” Deligianni tells To Vima English Edition, referring to CLIA’s Action Plan for Greece, which includes several strategies to address overcrowding while promoting sustainable tourism. These include adjustments to routes. “Itineraries are planned often years in advance, enabling operators and ports to plan. This has helped destinations diversify tourism revenues and contributed significantly to better-planned year-round tourism activities,” she explains.Another strategy is the adoption of berth allocation systems and local policies to optimize ship scheduling and port operations. “We have supported efforts on Mykonos and Santorini to implement a berth management system, paired with a transparent berthing policy that includes clear rules and criteria,” Deligianni adds.And lastly, the inclusion of lesser-known islands and mainland destinations to itineraries.The truth is, this is not the first time measures have been proposed. The Santorini authorities have repeatedly announced the launch of a slot system and the upgrade of their port over the past decade, but neither has been implemented.As for the proposed cruise ship levy announced last fall, CLIA has urged the Greek government to delay its implementation until 2026, by which time the new berth management systems (expected to be operational this year) will provide valuable insights.Cruise Tourism: The Broader Impact The economic contribution of cruise tourism extends beyond visitor numbers. A closer look reveals that the sector supports local businesses on Greek islands and ports-of-call through four distinct areas: cruise line supplies, passenger spending ashore, crew spending ashore, and shipbuilding activities.Deligianni notes that shipbuilding activity is significant, particularly in Europe, where approximately 97% of the world’s ocean cruise ships are built. Cruise lines, she adds, account for 80% of the commercial ship orderbook value for European shipyards. Greece contributes to this industry by offering shipbuilding, refurbishment, and maintenance services, “further strengthening its economy and enhancing its role in the global maritime industry”.Greece: A Safe Destination Greece has solidified its reputation as a safe and appealing destination, even during challenging times. During the COVID-19 pandemic, it was one of the first countries to reopen to cruise tourism, earning recognition from the World Travel and Tourism Council in 2021. Most recently, Greece was cited for its safety in the Risk Map 2025, further reinforcing its status as a secure travel destination.Despite geopolitical uncertainties, the Eastern Mediterranean remains a top choice for cruise passengers worldwide. “Greece’s strong reputation and strategic investments have positioned it as a key player in the European cruise market,” Deligianni notes. “By capitalizing on this momentum, it can further solidify its position in the region.”Homeporting a Priority for GreeceThe growth of homeporting has been a game-changer for Greece. In 2024, nearly 70% of the 131 cruise ships operating in the country either homeported or partially homeported. “Homeporting brings significant benefits,” Deligianni explains.By beginning and ending their cruise in Greece, passengers often extend their holidays, spending additional time and money in the country. Furthermore, cruise lines refuel, maintain, and supply their ships during their stay in Greek ports. Lastly, she adds, six out of 10 cruise passengers return to destinations they first visited on a cruise for longer vacations.“Cruising,” she notes, “is like wine tasting. It provides a sample of destinations, enticing visitors to return for more immersive experiences.”Beyond Mykonos and SantoriniUndoubtedly, the Greek islands cruise experience is always a winner with iconic destinations like Santorini, Mykonos, Crete, and Corfu maintaining their strong appeal. Currently, 57% of Greece’s cruise tourism activity is concentrated in Piraeus, Santorini, and Mykonos.A key goal of CLIA’s Action Plan for Greece is to diversify cruise itineraries with lesser-known island and mainland destinations, and to enrich passenger experiences while also contributing to the overall appeal of Mediterranean cruise offerings. This requires key investments in port infrastructure, a broadener range of destinations, and effective tourism management but also aligning tourism practices with local community needs. Only then will Greece be able to support the sustainable growth of cruise tourism while preserving the unique character of its islands and offering the highest quality traveler experience, Deligianni concludes.

Cruise Tourism in Greece: A New Era of Growth

Travel

Who doesn’t dream of a Greek island cruise? It’s the reason global cruise operators are sending more ships to Greece. But as demand soars—National Geographic Traveller included Santorini as one of the top 25 islands to explore by cruise in 2025—so are calls for effective crowd management, especially on popular but very small Greek islands like Mykonos and Santorini. In 2023, cruise tourism in Greece contributed 2 billion euros to the domestic economy and 1 billion euros to GDP while supporting 22,600 jobs. Although cruise travelers account for just 21% of the nearly 35 million tourists visiting Greece each year, the country is growing into a premier cruise destination in the Mediterranean and Europe.To Vima International Edition spoke with Maria Deligianni, Regional Director for the Eastern Mediterranean at Cruise Lines International Association (CLIA), about the importance of cruise tourism for Greece and solutions to the emerging challenges.Greek Island Cruise: A Dream Come TrueIn 2023, the sector’s contribution to the Greek economy grew significantly, reaching 2 billion euros up from 1.4 billion euros in 2022, and the trend is expected to continue in 2024 and 2025. The industry’s economic impact extends beyond GDP, however, generating 500 million euros in wages. Of the 22,600 jobs created, 11,600 were linked to direct expenditures, 2,800 to cruise lines, 5,200 to indirect activities, and 3,000 to induced spending, says Deligianni.One of the key drivers of this upward trend is homeporting, which is when cruise companies select Greek ports as the start and end points of their itineraries. Homeporting has been a strategic priority for the Greek Tourism Ministry over the past decade, contributing significantly to the country’s tourism revenues.Cruises and OvertourismThe growing demand for cruise tourism, while beneficial, has placed a significant burden on small islands. In 2023, Santorini welcomed 800 cruise ship visits, while Mykonos hosted 749. According to Greek Tourism Confederation (SETE) data, these visits brought nearly 1.3 million passengers to Santorini and 1.2 million to Mykonos. Given their small size (76.19 km² and 105.2 km², respectively), these islands face immense challenges accommodating such large numbers of tourists when they arrive simultaneously.Island communities have repeatedly voiced concerns, urging the government to take action. Their calls prompted Greek Prime Minister Kyriakos Mitsotakis to announce measures last year which would include a cap on cruise ship arrivals, visitor quotas, and a levy on cruise tourism.Citing PM Mitsotakis, Deligianni is quick to note that overtourism is currently not a widespread issue in Greece. Recent studies also confirm this, indicating however that most Greeks support proactive measures to prevent problems in the future.“CLIA has worked closely with local authorities and communities to implement sustainable cruise tourism practices at each destination,” Deligianni tells To Vima English Edition, referring to CLIA’s Action Plan for Greece, which includes several strategies to address overcrowding while promoting sustainable tourism. These include adjustments to routes. “Itineraries are planned often years in advance, enabling operators and ports to plan. This has helped destinations diversify tourism revenues and contributed significantly to better-planned year-round tourism activities,” she explains.Another strategy is the adoption of berth allocation systems and local policies to optimize ship scheduling and port operations. “We have supported efforts on Mykonos and Santorini to implement a berth management system, paired with a transparent berthing policy that includes clear rules and criteria,” Deligianni adds.And lastly, the inclusion of lesser-known islands and mainland destinations to itineraries.The truth is, this is not the first time measures have been proposed. The Santorini authorities have repeatedly announced the launch of a slot system and the upgrade of their port over the past decade, but neither has been implemented.As for the proposed cruise ship levy announced last fall, CLIA has urged the Greek government to delay its implementation until 2026, by which time the new berth management systems (expected to be operational this year) will provide valuable insights.Cruise Tourism: The Broader Impact The economic contribution of cruise tourism extends beyond visitor numbers. A closer look reveals that the sector supports local businesses on Greek islands and ports-of-call through four distinct areas: cruise line supplies, passenger spending ashore, crew spending ashore, and shipbuilding activities.Deligianni notes that shipbuilding activity is significant, particularly in Europe, where approximately 97% of the world’s ocean cruise ships are built. Cruise lines, she adds, account for 80% of the commercial ship orderbook value for European shipyards. Greece contributes to this industry by offering shipbuilding, refurbishment, and maintenance services, “further strengthening its economy and enhancing its role in the global maritime industry”.Greece: A Safe Destination Greece has solidified its reputation as a safe and appealing destination, even during challenging times. During the COVID-19 pandemic, it was one of the first countries to reopen to cruise tourism, earning recognition from the World Travel and Tourism Council in 2021. Most recently, Greece was cited for its safety in the Risk Map 2025, further reinforcing its status as a secure travel destination.Despite geopolitical uncertainties, the Eastern Mediterranean remains a top choice for cruise passengers worldwide. “Greece’s strong reputation and strategic investments have positioned it as a key player in the European cruise market,” Deligianni notes. “By capitalizing on this momentum, it can further solidify its position in the region.”Homeporting a Priority for GreeceThe growth of homeporting has been a game-changer for Greece. In 2024, nearly 70% of the 131 cruise ships operating in the country either homeported or partially homeported. “Homeporting brings significant benefits,” Deligianni explains.By beginning and ending their cruise in Greece, passengers often extend their holidays, spending additional time and money in the country. Furthermore, cruise lines refuel, maintain, and supply their ships during their stay in Greek ports. Lastly, she adds, six out of 10 cruise passengers return to destinations they first visited on a cruise for longer vacations.“Cruising,” she notes, “is like wine tasting. It provides a sample of destinations, enticing visitors to return for more immersive experiences.”Beyond Mykonos and SantoriniUndoubtedly, the Greek islands cruise experience is always a winner with iconic destinations like Santorini, Mykonos, Crete, and Corfu maintaining their strong appeal. Currently, 57% of Greece’s cruise tourism activity is concentrated in Piraeus, Santorini, and Mykonos.A key goal of CLIA’s Action Plan for Greece is to diversify cruise itineraries with lesser-known island and mainland destinations, and to enrich passenger experiences while also contributing to the overall appeal of Mediterranean cruise offerings. This requires key investments in port infrastructure, a broadener range of destinations, and effective tourism management but also aligning tourism practices with local community needs. Only then will Greece be able to support the sustainable growth of cruise tourism while preserving the unique character of its islands and offering the highest quality traveler experience, Deligianni concludes.

Basic Books signs BBC journalist Ben Chu’s ‘essential’ book

Arts & Culture, Books

Basic Books UK has landed BBC journalist and economist Ben Chu’s “provocative warning about the risks of abandoning globalisation”, titled Exile Economics. 
Publishing director at Basic Books and John Murray Press Joe Zigmond acquired world rights from Elly James at HHB Agency for publication in June 2025. 
In Exile Economics, Chu argues that isolationism weakens the global economy and explores how exile economics “entails a rejection of interdependence, a downgrading of multilateral collaboration and a striving for greater national self-sufficiency”. By examining globally traded commodities, from silicon to soy beans, Chu “illustrates the unfathomably intricate web of interdependence that has come to bind nations together – and underlines the dangers of this new push to isolationism”. The publisher called the book an “essential guide to this new world in all its promise and peril”. 
Chu said: “For the past eight years, all the momentum has been behind the forces of exile economics. And today, with the world bracing for yet another historic economic shock from Chinese overproduction and with ’Tariff Man’ Donald Trump returning to the White House, this feels like a moment when globalisation really could break apart entirely. This book will explain how we got to this point – and what it means for all of us if we make the wrong choices in the months ahead.”
Zigmond added: “As nations turn inward, trade wars loom and real wars rumble on, Ben Chu has written the perfect book arguing for clear-eyed decision-making in this critical moment. Exile Economics is a myth-busting call for reason in a world on the edge.”

How Forbes makes money: Business title’s leaders explain diversification strategy

Business News

Left to right: Forbes SVP of sales, North America Kyle Vinansky, chief executive Sherry Phillips and CMO Network managing director Seth Matlins. Pictures: Forbes

The senior leadership team at Forbes has explained how the business title is drawing on a range of revenue streams such as events, online subscriptions and direct-sold advertising.

Chief executive Sherry Phillips (who has been promoted from chief revenue officer since this interview took place), SVP of sales Kyle Vinansky and managing director of Forbes CMO Network Seth Matlins spoke to Press Gazette while in London for the inaugural Forbes CMO Summit Europe in November.

The summit, a conference for leading figures in European marketing, is part of the publisher’s strategy of building up niche but influential reader communities. Forbes has separately launched a private members’ club in Madrid, with plans for more around the world.

As well as its CMO Network, Forbes runs a chief information officer network and a chief executive officer network, plus a suite of verticals built around industries or identities, including health, law, certified public accountants and black and Latino professionals.

Forbes has dedicated newsletters catering to these communities and also, famously, lists. In addition to the three regional editions of its annual “30 Under 30” young professionals list, the publisher makes or has made lists of, to name a handful, the world’s most entrepreneurial CMOs, the top CIOs, the top CEOs, “Asia’s Heroes of Philanthropy”, the top 200 architects, lawyers and CPAs in America and 42 leading lights in the cannabis industry.

Several of these lists double as events, which allow the professionals to network under Chatham House rules (information shared on a non-attributable basis) and get the in the same room as Forbes journalists.

Matlins, who oversees the CMO Network, said they “curate the audience and the conversation” at the events.

“Everything we do, whether it’s written journalism or live journalism, is intended to make our readers, our audiences, our viewers wealthier and smarter.”

The communities are monetised through sponsorship.

Vinansky, the global sales SVP, said: “From an editorial side, we really focus on the exclusive stories and the one-on-one connections that we create with these individuals.

“I think the Billionaires [ranking] is probably the easiest example to see that — we’re not just talking about Elon Musk, we’re talking to Elon Musk.”

Subscriptions ‘a small but growing segment’ of Forbes revenue

Forbes, which is privately owned by investor group Integrated Whale Media Investments, has not published its financial details since the 2021 financial year, when it generated revenue of $259m. At the time it was planning to go public via an ultimately-cancelled merger with a publicly-traded special-purpose acquisition company. An acquisition bid by entrepreneur Austin Russell was also called off in late 2023.

Advertising is the largest part of the Forbes business, Vinansky said, of which direct-sold inventory is “the biggest piece of that pie”.

“The other large piece of that is basically open exchange inventory, because we’re reaching 100 million unique visitors… so it’s a massive operation from the digital content standpoint.

“Our live event business has grown very, very rapidly… and then, of course, our content business, both traditional branded content as well as that research-led branded content that we do in the marketplace.”

Print, he said, “is actually very stable for us at this point, but rather small in terms of the media mix”.

In 2022, 7% of Forbes’ total revenue came from its print product — down from 16% in 2019.

[From 2021: Forbes CEO Mike Federle interview — Why the business brand is now worth $630m]

Although Forbes does operate a paywall, new chief executive Phillips said subscriptions are “a small piece of our business”.

“It’s always been evolving. I’ve been at Forbes for 29 years. That business at first was print and only print, really — a little bit of live events.

“But we feel we’re ahead of the curve in the industry… but really, what we stand for, no matter what audience we’re serving, is success.”

On the B2B front Forbes also features a research business largely catering to customers in finance, enterprise, tech and consultancy, with reports spanning sustainability, AI, high net worth individuals and small business.

Forbes on e-commerce hit: Diversification means we can ‘hit other levers’

In 2024 Google rolled out a “site reputation abuse” update to its search ranking algorithm that gave less prominence to publisher websites with large affiliate and e-commerce operations.

Forbes was reported to be one of the sites worst affected by the change, and Vinansky said “it did have an impact. I would say March and April, we saw the biggest impact, but it has since rebounded”.

He added that Google’s workings are mysterious, meaning “we have to be a little bit reactive and try to figure out processes to make sure that we’re relevant… But I think Google also pays attention to that and probably made some corrections to whatever was changed”.

[Read more: Google search change hits publisher Black Friday e-commerce revenue]

Phillips said diversification of the Forbes business means that “when those changes come, we’re able to hit other levers, whether that’s live events or direct digital or open exchange”.

Despite the site reputation abuse hit, Forbes has seen significant web traffic growth, data from Similarweb shows. In the most recent Press Gazette rankings of the top 50 news sites in the world and the US, Forbes saw 42% and 46% year-on-year increases in visits respectively. In November the site charted as the 14th most-visited English-language news website in the world and the 11th most-visited in the US.

The results of the 2024 US presidential election prompted a surge in the stock markets, signalling optimism for the second Trump presidency among investors.

Asked how Forbes was poised for the tenure — which Trump has said will involve both tax cuts and price-rising tariffs — Phillips emphasised that the publisher did not endorse any candidate ahead of the election.

“We try to stay bipartisan, and breaking news is a big part of that. So again, we champion capitalism, but I don’t think that’s red or blue — I think that’s celebrated across the globe. So I do think as markets rise, yes, I think all of us will benefit, but we’ll see if that’s sustained…

“No matter what candidate won the election, we see great opportunity in 2025 and beyond, based on what we’ve built, certainly over the last few years. [There was] a lot of creativity during the pandemic that set us up for success now, and so as the economy rebounds — again, not based off of either candidate — we feel very poised for success.”

Email [email protected] to point out mistakes, provide story tips or send in a letter for publication on our “Letters Page” blog

The Chinese business case for cutting emissions

Business News

As the COP29 climate conference wrapped up in late November, it became clear that its legacy would be uncertainty regarding global cooperation on climate action. Attendees did predominantly agree on one thing, however. Companies should publish their climate targets and contribute to the energy transition.

According to the UN’s 2024 Emission Gap Report, as of June last year 107 countries covering approximately 82% of global greenhouse gas emissions had adopted net-zero pledges. Meanwhile, more than 9,000 companies have committed to actions to cut global emissions by 2030.

China’s carbon emissions have not yet peaked, but its rapid expansion of renewables means they are likely to soon. As the world’s biggest emitter, a plateau in China’s emissions would be of huge significance. But with economic growth slowing and coal consumption still on the up, there have been signs that improvements in energy intensity are slowing. National carbon intensity goals are also heading somewhat off-track.

What is carbon intensity?
It measures the CO2 required to produce a unit of GDP. Carbon intensity indicates the strength of the link between a country’s economic development and carbon pollution. That is, how much carbon is emitted to produce a certain amount of value. The higher its carbon intensity, the more reliant a country will be on emitting carbon to grow its economy.

Moreover, our recent report, produced with colleagues at the China Europe International Business School’s Lujiazui International Institute of Finance, reveals slow progress among Chinese firms, both on making climate pledges and taking climate action.

But in every crisis, there is opportunity. China is preparing to introduce a cap on total carbon emissions, while adjustments are being made to international trading rules. Both could accelerate progress.

Value chain emissions need cutting

Even with legal restraints and appropriate policies in place, hitting net-zero targets will require businesses to respond actively. Listed companies should be particularly motivated thanks to disclosure requirements and the power public opinion can hold over share prices.

Recommended

In 2023, China’s listed firms earned CNY 72.7 trillion (USD 9.9 trillion). That represents 57% of GDP. Researchers have calculated that, in 2019, the total scope 1 carbon emissions of China’s listed firms accounted for 18.3% of national emissions. That jumps to 43% when scope 2 and 3 emissions are added. As the total sales revenue of China’s listed firms has typically grown faster than GDP in recent years, it can be assumed those percentages have only risen since 2019. Therefore it is essential for China’s climate commitments that its listed companies wield their influence to cut whole-lifecycle emissions up and down their products’ value chains.

What are scope 1, 2 and 3 emissions?
Scope 1This refers to an organisation’s direct greenhouse gas emissions from its operations. For example, when a palm oil company clears a forest to plant oil palms, or the effluent from one of its mills leaks methane.

Scope 2This covers indirect emissions from an organisation’s energy use, such as from a power plant that supplies a palm oil company’s mill with heating and electricity.

Scope 3These indirect emissions occur along the value chain of an organisation and are not owned or controlled by it. A palm oil company’s would include the manufacturing and transport of fertilisers, and the international shipping of its products. Scope 3 usually represents the biggest share of an organisation’s emissions.

However, the majority of Chinese firms are not required to make climate disclosures. Carbon emission caps, meanwhile, are not yet being enforced and existing carbon markets are limited in scope and force. Firms are therefore not feeling the pressure to cut emissions. Any action is more likely to be driven by marketing than real changes in the value chain, which are usually related to cost rises.

Business is slow

Our research references two Bloomberg Terminal ESG (environmental, social and governance) business databases. One is BI Carbon, which covers 432 heavily emitting firms (52 of them Chinese) in sectors such as energy, transportation, chemicals, cement and steel. The other concerns business information and contains emissions data for 1,080 listed firms (114 Chinese) across 62 countries.

Looking solely at heavily emitting firms, 68% have made climate pledges, but only 25% of the Chinese firms have. This is far below Europe and Latin America, both at 80%, or even North America and Asia-Pacific, both at 60%.

Furthermore, these Bloomberg datasets reveal that the median combined scope 1 and 2 carbon emissions for listed firms internationally is now half that of a decade ago, while median carbon intensity has fallen by a third. Chinese companies do not follow this trend. Their median for carbon emissions has increased by 7.2% and median carbon intensity only fallen by 9.7%. It is worth noting that these datasets are missing considerable amounts of pre-2016 data for Chinese firms, but the country’s actions and outcomes are clearly lagging behind.

Retail and services lead the way

Breaking things down by industry, we found that the growth in renewables helped the fuel-production and power-generation sectors reduce carbon intensity significantly between 2016 and 2023. Yet these sectors’ combined total median emissions still rose by 45%. This is because growing energy consumption undermined emissions reductions. The emissions intensity of the metals and chemicals industry grew by 17%, while the manufacturing and technology sectors saw relatively small changes both in carbon intensity and emissions figures.

The only sector to see both carbon intensity and emissions fall between 2016 and 2023 was consumer goods and services, which covers food and drink, retail and tourist accommodation. This sector’s emissions fell by 16%. Three-quarters of that was due to carbon intensity improvements, while the remainder was down to declining sales.

Technological improvements, policy guidance and regulations have been key to reducing retail-end emissions. For example, take-up of electric vehicles has rocketed, cutting fuel emissions. Also, a steady ratcheting up of single-use plastics rules is shrinking the energy demands and associated emissions of packaging. The twin emissions dips in consumer goods and services may also have been helped by increasing awareness of sustainability issues among consumers – particularly young consumers. Companies will respond to this by focusing more on green and low-carbon approaches to design and production.

Business is set to speed up

Most Chinese firms will not feel any urgent need to cut carbon emissions until caps are put in place, but the situation is changing.

In August, the State Council confirmed that from 2026 China will shift away from controlling energy consumption and towards controlling carbon emissions. The Ministry of Ecology and Environment has recently published requirements and guidance on how to measure a product’s greenhouse gas footprint and cut emissions, and is establishing carbon accounting methodologies and databases. China’s carbon markets expanded in 2024, too, to include the cement, steel and aluminium sectors. This increased the percentage of national emissions covered by the market from 40% to 60%. Further expansions are expected.

Meanwhile, carbon disclosure rules for listed firms are being standardised and toughened up. In April 2024, the People’s Bank of China and other government bodies issued guidance on how finance can support green and low-carbon development. China’s three major stock exchanges then issued guidance on sustainability reporting for designated firms – including a requirement to disclose greenhouse gas emissions.

Once carbon footprints are visible, investors will be able to evaluate a firm’s carbon risks. That is, potential financial and operational damage arising from climate change, carbon emission controls or the low-carbon transition. This will create internal pressure for firms to respond to these risks and to cut emissions.

Finally, Chinese firms will find themselves increasingly affected by “carbon tariffs”. The EU’s carbon tariff (CBAM) began to be implemented in 2023, with an initial transition period running up until 2025. This currently affects Chinese firms in a few sectors only, including steel, cement, aluminium and fertilisers. However, CBAM expansion is now up for discussion and – given the EU’s tough carbon accounting requirements – this raises the possibility of more Chinese firms being affected.

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Elsewhere, the UK has announced that its own version of CBAM will come into effect in January 2027. And in the US, there is ongoing debate regarding a carbon border tax, such as the Republicans’ proposed Foreign Pollution Fee Act, the scope of which would cover China’s major export sectors.

Chinese firms will be pushed to cut emissions by tougher reporting requirements, green trade barriers and state-level economic planning that incorporates total carbon emissions data. However, slowing domestic economic growth and international trade tensions are creating strong headwinds. For Chinese companies, the ability to turn carbon-cutting pressures into growth opportunities will be critical to prosperity.