The second and final day for world leaders at the summit in Glasgow was marked by two deals that could become key tools in the climate fight. The U.S. and European Union’s much-anticipated pledge to cut methane emissions got support from more than 90 countries, though super-polluters China and Russia held out. One hundred countries backed a U.K.-led declaration to halt and reverse deforestation by 2030. Unlike previous plans to protect forests, the one announced Tuesday one was backed by Brazil, home to Amazon jungle, and Russia, home to the…
Read MoreYear: 2021
Climate change is highlighted as a security issue as NATO leader visits COP26
For years, militaries around the world saw protecting their citizens as contradictory to protecting the environment. But the presence of top defense leaders, including NATO’s secretary general, at a U.N. climate change conference on Tuesday suggested that is starting to change. The Tuesday visit from NATO Secretary General Jens Stoltenberg to the Glasgow climate talks was the first time a top alliance leader has come to the gathering since its first round in 1995. The trip came less than two weeks after the Pentagon, the White House and the U.S.…
Read MoreIRENA Coalition for Action Press Release: Leading Players at COP26 Call for Immediate Actions to Accelerate Renewable Energy Jobs
more than 130 renewable energy leaders, under the auspices of the International Renewable Energy Agency (IRENA) Coalition for Action, launched a call to action today, encouraging all governments at national, regional, and local levels to ensure access to high-quality, sustainable jobs during the energy transition. Limiting the earth’s temperature rise to 1.5°C by 2050 requires a full decarbonisation of the energy sector. As such, the clean energy transition must progress rapidly. But to build a climate-resilient future, the energy transition must advance in a just and inclusive manner, leaving nobody behind. As…
Read MoreThar Block II expansion set to become cheapest fuel source for Pakistan – SECM
Sindh Engro Coal Mining Company (SECMC) board has approved the expansion of its Thar Coal Block II Mine to 12.2 million tons per annum (Phase III). With this expansion, coal price of SECMC mine shall reduce to 27 USD/ton. SECMC is expected to complete this expansion by June 2023. At a price of $27 per ton, SECMC Block II coal shall become the cheapest fuel source in the country and will ensure economic stability and energy security for the country. It shall enable Pakistan to save USD 420 million per…
Read MoreAramco Books 158% Surge In Q3 Net Profit On Higher Oil Prices
Saudi state energy giant Aramco booked a net profit of $30.4 billion for the third quarter of the year, up by 158 percent from the third quarter of 2020 on substantially higher crude oil prices. The world’s biggest crude oil company also said it had generated 131 percent higher free cash flow during the reporting period, at $28.7 billion. Cash flow from operating activities reached $36.3 billion. The company’s chief executive, Amin Nasser, attributed the strong quarterly result to the rebound in economic activity globally, which caused a surge in…
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