‘Nature can’t be blamed for health problems created by man-made environmental hazards’

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‘Nature can’t be blamed for health problems created by man-made environmental hazards’ November 1, 2023 KARACHI: The topic of the talk organised by the Urban Resource Centre (URC) on Tuesday was ‘The adverse effects on health due to weather changes’ and the speaker, Dr Tipu Sultan of the Pakistan Medical Association (PMA), changed it completely by showing a mirror to all those who were under the impression that they were occasionally under the weather because of nature. Speaking about such people, he said that most common health issues that come…

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OICCI urges collaborative efforts to address climate crisis at Pakistan Climate Conference 2023

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Karachi, November 1, 2022: “Climate change is a global issue but in Pakistan’s case it is evident that climate change is happening now and not a phenomenon that only our future generations will experience,” said Amir Paracha, OICCI President at the 2nd Pakistan Climate Conference on November 01. This is the second consecutive year that the OICCI has organized the Climate Conference with the aim for a better climate action in the country. Despite being responsible for less than 1% of the world’s planet-warming gases, Pakistan is the eighth most…

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Saudi firm eyes control of Shell Pakistan

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KARACHI: Shell Pakistan Ltd (SPL) said on Tuesday it has received a public announcement of intention from Saudi Arabia-based WAFI Energy LLC to buy up to 77.42 per cent of its shares, which are currently held by the oil firm’s foreign sponsor. The potential acquirer is a Saudi retail gas station network and a sole licensee of Shell retail pumps in the Gulf nation. Earlier in June, SPL told investors that its foreign sponsor planned to divest its entire 77.42pc stake in the oil marketing company (OMC) as part of…

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UN COP 28, IRENA and Global Renewables Alliance outline roadmap at Pre-COP on fast-tracking the energy transition by tripling renewable power and doubling energy efficiency by 2030

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Abu Dhabi, 30 October 2023: The COP28 Presidency, the International Renewable Energy Agency (IRENA), and the Global Renewables Alliance (GRA) launched a joint report today on the sidelines of the Pre-COP event in Abu Dhabi, titled Tripling Renewable Power and Doubling Energy Efficiency by 2030: Crucial Steps Towards 1.5 °C. The report provides actionable policy recommendations for governments and the private sector on how to increase global renewable energy capacity to at least 11,000 GW while also doubling annual average energy efficiency improvements in the target period. This falls under the…

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Energy projects sans Chinese IPPs: PPIB resubmits transition from LIBOR to ‘SOFR’

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ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has resubmitted the transition from LIBOR to SOFR for energy sector projects sans Chinese IPPs, with the observation that due to manipulation of several financial institutions and weakness in governance oversight of LIBOR as benchmark rate, the Federal Reserve’s Alternative Reference Rate Committee’s recommended SOFR as benchmark rate is more resilient and robust than LIBOR. Sources close to Managing Director PPIB stated that LIBOR was based on future projection of certain banks and was being manipulated while SOFR is based on overnight…

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