Year: 2023

Pakistani school wins $100,000 Zayed Prize for Sustainability at UAE’s COP28 conference

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Pakistani-school

DUBAI: A Pakistani school won the prestigious Zayed Sustainability Prize of $100,000 after being declared the best Global School in South Asia for its innovative project on water conservation and organic farming at the UN climate conference in Dubai on Friday.The school is operated by the Kashmir Orphan Relief Trust (KORT) and was competing for the prize against two other finalists from India and Bangladesh.Two young representatives of the trust were present at the gathering at the Expo City in Dubai where United Arab Emirates President Sheikh Mohamed bin Zayed…

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117 countries agree to triple renewable energy, to push out fossil fuels: COP28

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Cop28-23

DUBAI: Some 117 governments pledged to triple the world’s renewable energy capacity by 2030 at the U.N.‘s COP28… DUBAI: Some 117 governments pledged to triple the world’s renewable energy capacity by 2030 at the U.N.’s COP28 climate summit on Saturday, as a route to cut the share of fossil fuels in the world’s energy production. The pledge was among a slew of COP28 announcements on Saturday aimed at decarbonizing the energy sector – source of around three-quarters of global greenhouse gas emissions – that included expanding nuclear power, cutting methane…

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Clashes over fossil fuels, Gaza war at COP28 climate summit

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climate-summit

Israel’s assault on Gaza resumes the day after the summit reaches an agreement over a long-sought rehabilitation fund UN Secretary-General Antonio Guterres has urged world leaders at the COP28 climate summit to plan for a future without fossil fuels, saying there was no other way to curb global warming. Speaking a day after COP28 President Sultan Ahmed al-Jaber proposed embracing the continued use of fossil fuels, Guterres said: “We cannot save a burning planet with a fire hose of fossil fuels.” KEEP READING Who’s attending COP28 in Dubai — and…

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Getting NSC a must for transfer of KE shares

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k-electric

ISLAMABAD: The Ministry of Law and Justice has held that National Security Certificate (NSC) is obligatory for transfer of shares of K-Electric, which is not just a business entity but a strategic asset of the country and any alteration in its shareholding structure should be subject to a rigorous evaluation process. Ministry of Law and Justice has given its clear observations on letters written by the Ministry of Privatisation titled “first meeting of Ministerial Committee on K-Electric issues”. In its letter, Law Ministry referred to Ministry of Privatisation’s (Privatisation Division)…

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Govt bans issuance of LOIs for hydropower projects

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Karot-Hydropower

ISLAMABAD: The Federal government has reportedly slapped ban on issuance of Letters of Interest (LoIs) for hydropower projects with immediate effect and till issuance of guidelines for future, besides starting a probe of business of sale/ purchase of LoIs, sources close to Managing Director PPIB told Business Recorder. Sharing the details, sources said, Executive Committee (EC) of the Special Investment Facilitation Council (SIFC) as constituted under the Board of Investment Ordinance, 2001 (amended through Board of Investment Act 2023), in its sixth meeting held on October 23-24, 2023 constituted a Working…

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