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The global agreement reached at the United Nations’ COP26 summit in Glasgow last weekend may help solve one of the trickiest problems in climate policy: how to boost confidence in the voluntary market for carbon credits.   Such credits, or offsets, allow companies to pollute at home in exchange for investing in greener projects elsewhere. Voluntary markets are currently something of a Wild West, with no unified standards or governance — and experts say at least some of the credits they generate do little or nothing to curb climate change.  The voluntary…

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Natural gas inflow to Turkey’s gas network saw a year-over-year increase of around 23.2% to 61.6 billion cubic meters (bcm) in 2021, according to data from the Turkish Petroleum Pipeline Corporation (BOTAŞ). In 2020, around 50 bcm of natural gas was distributed through the Turkish natural gas system. As the country’s natural gas export volume is relatively low, it is anticipated that total consumption will be close to the inflow volume. The increase in electricity production from natural gas due to the lack of sufficient generation from hydroelectric power plants…

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China-Pakistan Economic Corridor (CPEC) tsar Khalid Mansoor said on Thursday Chinese businesses have shown willingness to relocate their production facilities to Pakistan if the ongoing trade war between China and the United States escalates further. Speaking at a conference of business leaders, the special assistant to the prime minister on CPEC affairs said two to three investors have approached him for the possible relocation of their manufacturing units to Pakistan. “[They said] create a vocational and training institute [as] we’re going to need 100,000 talent of Pakistan in the next…

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Amid a dissenting note by two of its members and despite 67 per cent of power coming from cheap domestic resources with static prices, the National Electric Power Regulatory Authority (Nepra) on Thursday allowed ex-Wapda distribution companies (Discos) to charge their consumers an additional fuel cost of Rs4.30 per unit during the current billing month to mop up about Rs35 billion additional funds. The “adjustment of an increase of Rs4.3020/kWh shall be applicable to all the consumer categories except lifeline consumers of all the XWDiscos”, said the regulator in a…

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The prices of key petroleum products are estimated to jump by up to Rs6.30 per litre on Jan 15 for the next fortnight, mainly because of higher international oil prices. Informed sources said the prices of petrol (motor gasoline) and high-speed diesel (HSD) had been worked out to go up by about Rs5.30 and Rs5.80 per litre, respectively, based on the existing tax rates, import parity price and exchange rate. Likewise, the prices of kerosene and light diesel oil (LDO) are also estimated to go up by Rs5.80 and Rs6.30…

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