Month: December 2020

ISLAMABAD: With the highest population growth rate in the region, Pakistan is already the fifth most populous nation in the world but the economic growth outlook at least for the next four to five years is not encouraging. “Pakistan needs a high economic growth rate, 7-8 per cent, for the next 30 years to absorb the new entrants to the labour force,” said a summary of the Population Situation Analysis (PSA) launched by the Ministry of Planning and Development, which was finalised with the support of international development partners. Speaking…

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ISLAMABAD: The World Bank has approved a $300 million loan to help Pakistan address issues of climate change, health emergency and manage solid waste to reduce flooding chances in the largest city of the country. The Washington-based lender approved $200 million for the Sindh Resilience project and $100 million for the Solid Waste Emergency and Efficiency project, according to an official statement issued by the bank’s local office. These investments will bolster Pakistan’s efforts to build resilience to natural hazards such as floods and droughts in the Sindh province and…

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Chevron has taken steps to lessen the oil and gas giant’s dependence on fossil fuels, laying a path to an energy system with a reduced carbon footprint, CEO Mike Wirth told CNBC’s Jim Cramer Wednesday. “We embrace a lower carbon future. We expect a lower carbon energy system,” Wirth said in a “Mad Money” interview. “The energy system’s always been moving towards lower carbon.” The comments came in response to a question about money managers who value environmental, social and corporate governance, or ESG, investing. ESG investors look to invest…

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World leaders could use the coronavirus pandemic to shave 25% off their greenhouse gas emissions with green recovery packages, according to a report released today by the UN Environment Program (UNEP).  But they have so far continued to make choices that push them further away from targets they agreed upon five years ago to protect the climate and their citizens. By burning fossil fuels and chopping down rainforests, countries are on track to heat the world by 3.2 degrees Celsius this century, despite committing to keep it well under 2C.  The annual emissions…

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