When deciding whether to invest in environmental projects, it’s important to consider the economic value of any long-term benefits.

Whether climate solutions (such as offshore wind power or solar farms) are recognised as valuable or worthless depends very much on which economic model is used to evaluate it.

If the present value of the benefit (calculated by using a widely accepted financial model called “exponential discounting”) is too small compared to the cost, it may seem to damage the economy too much.

As a mathematician researching in finance, my study shows how it is possible to use another financial model called “social discounting” to value the long-term benefits far into the future. My colleague and I have demonstrated that a perfectly consistent valuation method can be established using social discounting.

Exponential discounting is commonly used to calculate the present value of a future benefit. Banks use this all the time to calculate the value of products linked to interest rates. Exponential discounting tells us how much to put in an account now to reach that future value – it incorporates how, when interests accumulated overnight are instantly put into the account, those interests will accumulate additional interests.

Social discounting is another way of calculating the present value of future, long-term benefits such as the prevention of drought, forest fire, or the submersion of coastal cities.

A recent University of Exeter report titled Recalibrating Climate Risk highlights a range of shortcomings in how traditional economic models are applied to climate issues.

While it makes sense to use exponential discounting if the future beneficiary of the decision made today is the same person who is making the decision, that isn’t always the case when they are different.

The benefits of long-term social projects for sustainable energy or climate change may only arise in 100 years. By using an exponential discounting model, a large benefit occurring in the distant future will be assigned an unfairly low value right now. This won’t be enough to justify the costs involved in funding the project, so the project might not get off the ground.

Given that future generations have no say on choices made by society today, it seems unfair to heavily discount their future benefits. Nevertheless, there is a strong argument, most notably advocated by the climate economist and Nobel laureate William Nordhaus, that investment in climate projects should be treated like any other investment; subject to the usual exponential discounting.

The Nordhaus argument is widely used to evaluate climate policies around the world. For example, a UK thinktank called the Global Warming Policy Foundation has used it to warn the government against investing in safeguarding future generations. Fossil fuel companies employ versions of the Nordhaus argument to deter public investment in climate policy and focus on the short-term benefits of an economy based on fossil fuel extraction.

There is a catch

Leaving aside morale and ethical debates on the use of exponential discounting, a little-known principle in finance shows that the exponential rate of discounting cannot decline over a long time horizon when benefits of climate policies are delivered.

One consequence is that the benefit of long-term social projects to tackle climate change is inevitably heavily discounted in the exponential model. This makes the investment seem less attractive, making it difficult for lawmakers to pass climate bills.

An alternative assessment follows from using social discounting, where the discounting is considerably milder so that the present value of the benefit of a climate policy far in the future may be as significant as the amount of investment required for implementing the policy, making the investment a worthwhile proposition.

In spite of its morale attraction, in the academic literature it was thought for a long time that it is not possible to evaluate future benefits in a consistent way using a social discounting. Without evaluating future benefits in a reliable, consistent way makes it difficult to argue the economic case for a climate investment. But my research shows that it is possible.

There are no economic or financial reasons to circumvent the use of social discounting on the basis of consistency. So it’s time to move on from the old-school economic arguments favoured by the fossil fuel industry and other climate sceptics.

“There is absolutely no truth whatsoever in any such suggestion. We have asked the MPS for the evidence relied upon to justify the arrest. Peter Mandelson’s overriding priority is to cooperate with the police investigation, as he has done throughout this process, and to clear his name.”

Shane Davies’ passenger at the time of the crash said it was like he was driving a racing car

A driver thought he was going to die when a Volkswagen Polo came flying towards him on the wrong side of the road. Cardiff Crown Court heard how Shane Davies, 47, had been driving “like a racing driver” in the moments before the collision.

Victoria Maud, prosecuting, told the court how in May 2025 Davies gave two men he knew a lift in his blue Volkswagen. He had been driving “perfect appropriately” and then he dropped the first passenger off and his driving changed.

The court heard how when he turned onto Crumlin Road, between Pontypool and Crumlin, his driving became “extremely concerning” and he was driving over solid white lines and behaving like a racing driver. Don’t miss a court report by signing up to our crime newsletter here.

Davies had been driving on the wrong side of the road when he turned a corner and lost control having driven over something like a pothole or mudhole. Davies’ car floored across the road, turned over, and hit a Volvo which was coming the other way head-on – something the court heard the Volvo driver was “wholly unable to avoid”.

The court heard how Mr Harvey, the driver of the Volvo, suffered extreme damage to his car and significant injuries to his thumb.

Tests carried out following the crash found Davies had drugs from the previous day, which were still breaking down, in his system.

In a victim impact statement, read on behalf of Mr Harvey by Ms Maud, the court heard how he sustained a permanent thumb injury during the collision. “I genuinely believed I was going to be killed as I saw the underside of the car come towards me,” Mr Harvey said.

The victim added how he struggled to believe someone could drive in such a way while giving someone a lift and said it had taken him six weeks to get behind the wheel again and he has since become a very nervous passenger.

The court also heard a statement from Davies’ passenger at the time of the crash, Mr Meredith. “As soon as he turned into Crumlin Road he wasn’t travelling at the speed limit – it was like he was driving a racing car,” he said.

Mr Meredith recalled asking him to stop driving in such a way three times but said it was as though Davies didn’t care. Ensure our latest news and sport headlines always appear at the top of your Google Search by making us a Preferred Source. Click here to activate or add us as Preferred Source in your Google search settings.

Davies, of Offway in Cwmbran, has five previous convictions for 15 offences including two previous driving convictions. Most recently, in 2017, he was convicted of driving while over the drug limit.

Abdallah Barakat, representing Davies, said his client was very remorseful for his actions and said a period of imprisonment would have a negative impact on his children who Davies sees at weekends and during school holidays.

Mr Barakat also said Davies had worked and held down jobs his whole life and told the court his partner of eight years was in the courtroom supporting him.

Davies pleaded guilty to one count of dangerous driving at the earliest opportunity, the court heard.

During sentencing Judge Vanessa Francis said Davies had ignored his passenger’s fears and carried on before his car eventually hit something on the road and crashed head-on with Mr Harvey’s car. She said the crash could have been much worse but the impact had been reduced by the type of car Mr Harvey was driving.

Judge Francis sentenced Davies to 14 months in prison suspended for 18 months. She also ordered that he attends 10 rehabilitation requirement days, completes 80 hours of unpaid work in the community, and has an electronicially-monitored curfew for the next two months.

Davies was also disqualified from driving for two years and must pass an extended driving test before returning to the roads.

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The sheer range of candles on the market means that you need clear parameters to help you pick one. For Chikumbu, the decision comes down to “three S’s”: scent, style and strength.

Scent

“I like to match the scent to the mood or the season,” says Chikumbu. “I like vanilla or a crisp cedar for all seasons but for autumn and winter, I tend to go smokier and bolder with firewood scents.”

Style

Given candles are items we display, the way they look is just as important as how they smell. For style, Chikumbu likes “maximalist chic” candles. He likes Trudon for this, but if you prefer something more understated, Jo Malone’s Townhouse ceramic pots are elegant, while Pott specialises in refillable candles and holders designed to become part of the furniture.

Strength

“I want to feel the candle scent in the room, so I’m looking for something with a strong throw,” says Chikumbu. “I like a thicker cotton wick, because it burns stronger and throws the flame better.” A thinner wick is more likely to blacken and crumble, while a wooden wick might crackle.

It’s also worth thinking about wax types here: paraffin wax can hold a higher concentration of fragrance oil to make a stronger scent, but you might prefer the cleaner burn of natural waxes, including soy and rapeseed. For more information, consult our frequently asked questions.

“There is absolutely no truth whatsoever in any such suggestion. We have asked the MPS for the evidence relied upon to justify the arrest. Peter Mandelson’s overriding priority is to cooperate with the police investigation, as he has done throughout this process, and to clear his name.”

The crematorium opened in 1961 when expectations were for 700 cremations a year but demand means a new facility is being proposed

A final decision on the future of Belfast’s Roselawn cemetery is approaching after a City Hall committee backed a plan to redevelop the site with a new two-chapel building.

Elected representatives at the council’s Strategic Policy and Resources Committee recently approved a proposal for a new two-chapel crematorium at the current site at Roselawn. The vote, which was taken behind closed doors in a secret meeting away from the public and press, has not been made public, but reportedly was not unanimous, with Sinn Féin showing opposition to the proposal.

The committee decision will go to the next monthly meeting of the full council for ratification, on Monday March 2, where it is expected there will be another vote on the matter.

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Belfast City Council first revealed an £18 million plan for a new crematorium five years ago, while funeral directors and families have expressed frustration at the long delay in decision-making at City Hall. It was due to open in 2024, and accommodate 4,500 ceremonies a year. Meanwhile long lists of families using the facility are limited to rushed ceremonies packed into 20 minute slots.

The crematorium opened in 1961 when expectations were for 700 cremations a year, but demand has significantly grown since then in Northern Ireland. Up until 2023 Roselawn had the only crematorium in Northern Ireland, Antrim and Newtonabbey now also provides a service.

Green Councillor Anthony Flynn, who made the proposal for a new two chapel crematorium at the current site at a Belfast Council working group, welcomed the committee decision.

He said: “A few weeks ago I visited Roselawn to meet the staff and see first-hand how services are being delivered. The people working there are doing incredible work. They support families with compassion and professionalism at the most difficult moments in their lives. They deserve real credit.

“But the building itself is no longer fit for purpose. It was designed in the 1960s for a very different Belfast. Since then, our city has grown and changed.

“Funeral practices have evolved. Families now expect more flexibility, more time and more space to grieve in a way that reflects their traditions and beliefs. The current facilities simply cannot meet that demand.

“That is why I have consistently supported a new two chapel crematorium at Roselawn, with a hybrid model that gives families longer service times if they want them. It is about dignity, choice and modern facilities that reflect the needs of today’s Belfast.”

He added: “This week, a committee approved the proposal for the new two chapel site. It will now go to full council for ratification. Some have argued it should be built somewhere else.

“But residents have already waited years for improvement. Delaying again would mean more time, more cost and no better outcome for families who need certainty now. For me, this is simple. Support the staff, support the investment, support families at their time of grief.”

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It is expected that the pub will reopen later this year

A Cambridge pub is set to undergo “significant refurbishment and rebranding”. The Lord Byron in Trumpington, Cambridge, has been acquired by hospitality group Heartwood Collection.

The pub is expected to reopen in late 2026 and will be renamed The Meadow Lark. It will have 19 bedrooms, making it Heartwood Collection’s first ‘pub with rooms’ in Cambridgeshire.

The name takes inspiration from nearby Trumpington Meadows, a nature reserve next to the River Cam, as well as from skylarks native to the area. The extensive refurbishment aims to transform the pub’s bar and dining spaces into warm, welcoming interiors.

Guests will be able to enjoy seasonally changing menus and a curated drinks list. There will be an enhanced outdoor space making the most of the pub’s proximity to the picturesque Trumpington Meadows and Byron’s Pool.

Richard Ferrier, CEO of Heartwood Collection, said: “We are delighted to have acquired The Lord Byron in Trumpington and to be bringing it into the Heartwood family as The Meadow Lark. Inspired by the beautiful surrounding nature reserve, we look forward to creating a pub that truly reflects its landscape and community, somewhere guests can gather, dine and celebrate for many years to come.”

Officers were called Carlyle Gardens in Haddington on Tuesday February 10 where the 54-year-old was found injured, however he died in hospital on Wednesday February 18.

A man has been arrested and charged after another man was found injured in East Lothian and later died in hospital. Officers were called Carlyle Gardens in Haddington on Tuesday February 10.

The 54-year-old man was found injured in a property and was taken to hospital. However he died on Wednesday February 18.

Police Scotland confirmed a 41-year-old man had been arrested and charged. He is due to appear at Edinburgh Sheriff Court on Wednesday.

Senior Investigating Officer Detective Inspector Ross Duthie, of the Major Investigation Team, previously said: “My thoughts are with the man’s family and friends at this difficult time. We have a dedicated team of officers carrying out extensive enquiries and a police presence remains in Haddington as part of this.”

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Talkin’ Tables hosts weekly, free, hour-long sessions where members of the community can come together and chat.

Founder Marjorie Hayward launched the community project in July 2021, and there are now over 100 tables across the country.

With tables already bringing people together across Bolton, the two new tables are a welcome addition to the ever-growing movement.

Lynne told The Bolton News: “There is a new table starting at Westhoughton Library on March 13, under table leader Helen Peachey.

“Helen is one of our long-standing leaders, already running a table at St John’s Church and another one which will soon be moving to a café called Capri.

“So this will be her third table, but she’s hoping that, as the table gets established, someone will come forward to take over as leader.”

The launch event will from 2.15pm until 3.15pm, with tea and biscuits.

Each session is run by a Table Leader, who helps facilitate conversations and welcomes new members.

Lynne is always on the lookout for new leaders in Bolton who would be willing to support the weekly sessions.

“It’s not very difficult to find venues, but to find nice people who are willing to give up their time—that’s what we really need,” said Lynne.

Those interested in becoming a Table Leader should be “friendly and willing to talk to people who are on their own” and can reach out to Lynne at lynneccroston@gmail.com.

Lynne said the table has been made possible with support from Mabinuori Akpofure, service development officer of Bolton Library and Museum Services.

The second table will open on Friday, March 20, at Bolton Sea Cadets’ Castle Street venue, from 10.30am to 11.30am.

This will be the 25th table in Bolton, a milestone for the group.

“I’m really glad to have a table over there because we haven’t got one in that area,” said Lynne.

The leader of this table will be Carole Ogden, who already does extensive voluntary work.

Lynne is hoping the Mayor of Bolton, Cllr David Chadwick, will attend the launch meetings, as he has so often done at previous launches.

“There are still plenty of areas in Bolton where we’d like to set up tables,” said Lynne.

“We haven’t got anything in Breightmet or Little Lever yet, and we’d like to have somewhere that everybody could go.”

Lynne also highlighted the importance of setting up more tables at the weekend, as this can be a particularly lonely time for some people.

Currently, there are no tables on Saturdays, and Lynne said she is sure people would welcome a place for a “coffee and chat.”

To find your nearest Talkin’ Table, visit www.talkintables.co.uk.

If you would like to be a Table Leader in Bolton, email Lynne Croston at lynneccroston@gmail.com.