Category: Shortcode

Embattled German gas giant Uniper on Friday submitted a bailout application for government support after running into extreme financial distress, Finnish majority owner Fortum said in a statement. Uniper was the first German energy company to sound the alarm over soaring energy bills due to reduced supplies of Russian gas. It has been in talks with the German government over a possible bailout in recent weeks. “We welcome that the German Parliament has now approved a ‘toolbox’ which will allow immediate relief to the effects of the gas supply crisis,”…

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The euro zone economy is expected to face higher inflation both this year and in 2023, officials told CNBC on Monday, while plans are being stepped up for the prospect of a permanent cut to Russian gas supplies. Europe has been under intense pressure in the wake of Russia’s invasion of Ukraine, with higher energy costs pushing up inflation across the region. This economic reality is unlikely to change anytime soon, with new forecasts pointing to an upward revision in consumer prices across the bloc. “What we see [is that]…

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Key findings from a new World Bank study estimate that new investments in grid-connected and off-grid renewable energy projects in Pakistan could generate more than 190,000 direct and 137,000 indirect jobs by 2030. The renewable energy industry provided about 14,000 direct and over 11,000 indirect jobs in 2020 against an installed base of 1,995MW of grid-connected wind and solar projects and an estimated 2,600MW of off-grid solar photovoltaic installations, according to the “Renewable Energy Jobs and Sector Skills Mapping for Pakistan” study made available to Dawn. In the lead-up to…

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Climate Change and the challenges, the world in general and Pakistan are facing, need immediate actions being a harsh reality which the humankind have to deal so that the world and the nature can be protected for our future generations… With the evolving world, the words like global warming, greenhouse effect, CO2 emission &carbon footprint, relentless use of fossil fuel, rising sea temperature resulting in rising sea levels, heatwaves, glaciers melt down at a faster pace resulting in GLOF (Glacial Lake Outburst Floods), unprecedented and extreme weather conditions, floods and…

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Austria, Germany, Italy and the Netherlands announced plans this week to prepare to resurrect old coal plants as gas supplies dwindled. The moves came just days after Moscow reduced natural gas flows to several European countries, including Italy and Slovakia, alarming leaders who are worried about energy reserves ahead of winter. Are you on Telegram? Subscribe to our channel for the latest updates on Russia’s war in Ukraine.That’s not the direction in which these government wanted to move. A return to coal would controvert climate policy already in place in…

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