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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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In Kakapir, a fishing village located around 15 kilometres to the West of Karachi, at least two dozen women spend their days planting mangroves- elongating and strengthening a natural wall against tsunami. Leading the initiative to preserve the natural resource in the area, they realise that them having a secure future is linked to the presence of mangroves. “It’s a valuable tree and we all need to protect them,” said 70-year-old Sughra Hajani, one of the women who have dedicated themselves to protecting mangroves in Kakapir village. “I plant them…

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Economic headwinds are expected to subside as economic indicators are seen improving. With surplus in recent months, current account deficit is expected to remain in control; remittances a have continued to march up and outlook for currency depreciation is also stable. Plus, government’s packages, low interest rates, expected control in inflation, and debt relief on international loans will all contribute to economic revival in 2021. Economic moguls are cautiously optimistic. This is the news on the economic front. How have the households been coping with the COVID-induced economic slowdown? Economic…

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