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Tag: Global Warming

  • Apple to invest another $200 million in carbon removal fund

    Apple to invest another $200 million in carbon removal fund

    Canada Global (Web News) Apple Inc. announced on Tuesday that it has increased its financial contribution to a fund it had started two years prior to support initiatives that reduce atmospheric carbon.

    Up to a further $200 million will be invested, according to the iPhone manufacturer, into the Restoration Fund, which it committed to establishing in 2021 with a $200 million commitment.

    The additional funding is anticipated to help the fund launch new initiatives and double its prior target of removing approximately 1 million metric tonnes of carbon dioxide annually, the business said.

    By 2030, Apple hopes to achieve carbon neutrality throughout its entire supply chain and product lifecycle.

    The fund, established in conjunction with the nonprofit organisation Conservation International and the Goldman Sachs Group Inc., has invested in forest assets in Brazil and Paraguay during the past two years.

    According to Apple, Climate Asset Management, a partnership between HSBC Asset Management and Pollination, will be in charge of managing the expanded fund.

    Lisa Jackson, Apple’s vice president of Environment, Policy, and Social Initiatives, described the Restore Fund as “an innovative investment method that delivers actual, verifiable benefits for the planet, while striving to generate a financial return.”

  • PM Shehbaz calls for collective efforts to save planet Earth

    PM Shehbaz calls for collective efforts to save planet Earth

    Canada Global (Web News) On Saturday, the Prime Minister Shehbaz Sharif urged people to work together to protect the planet from the harmful impacts of climate change.

    He sent the message on Twitter since Pakistan will join the rest of the globe in observing Earth Hour tonight (Saturday) with the theme “Donate an Hour for Earth.”

    “Today, Pakistan joins the rest of the world in observing Earth Hour and displaying its commitment to upholding its responsibilities on climate change actions. Everyone has a role to play in the joint effort to protect our world from the negative effects of climate change, the premier wrote.

    He claimed that everyone’s lives and livelihoods were being impacted by climate change. He emphasised Pakistan’s dedication to supporting sustainable development and cooperating with other nations to overcome international environmental concerns.

    Senate Chairman Muhammad Sadiq Sanjrani advised citizens to turn off all superfluous lights and other electric appliances at their homes, offices, and businesses from 8:30 pm to 9:30 pm to mark the hour in his message for the occasion.

  • World Bank to mobilize $10 toward climate action for every $1 received in grant money

    World Bank to mobilize $10 toward climate action for every $1 received in grant money

    Canada Global (Web News) According to Makhtar Diop, managing director of the International Finance Corporation, the World Bank will deploy $10 of its resources to invest in climate action for every $1 in grants it receives. He made this announcement during the World Government Summit on Monday.

    In a session titled “Investing in a Sustainable Future: The Role of Climate Finance,” Diop told CNN’s Becky Anderson that “if we manage to have a bit more of grant money invested, then we will be able to multiply investment significantly.”

    One of the most urgent challenges of our day, according to Anderson, is the climate disaster.

    In order to alter the global economy and put us on a path to net zero by 2050, mobilising private wealth alongside private policy is critically essential.

    Every year, $9 trillion in investments are required to achieve that aim. That is a rough estimate. If you’re being more cautious, you might say it’s $6 or $7 (trillion), but either way, that’s a lot of money, and 60% of the money is needed for investments in emerging economies. To put it bluntly, these markets are cash-starved, she said.

    When questioned about how to close the financial gap for emerging countries, Diop responded, “The world doesn’t have a problem with resources; the difficulty is managing those resources to ensure we are employing renewable energy…

    The management of the world’s current liquidity and its allocation to profitable investment are other issues.

    According to Diop, the global energy shift will require $1 trillion in annual expenditures. He argued that the absence of a bankable project and obligation prevents the private sector from appropriately evaluating the risk.

    Making judgements for investors is becoming more and more challenging due to a variety of factors, including conflicts and natural disasters.

    Diop disclosed that he has signed a contract with the Abu Dhabi Development Fund to establish a $1.5 billion platform where both parties will co-invest in developing nations going through an energy transition.

    According to Diop, “Today, when we talk about green hydrogen, which is a new form of energy, it is primarily located in developing nations where you have the sun and hydro (electricity) in abundance.”

    These nations “may become energy exporters and (contribute) to the global public goods solution,” he said.

    World Bank Group is debating a “evolution roadmap” to assess what else can be done to aid in the transition to a more energy-efficient society and aid nations in battling climate change, according to Diop

  • Canada’s single-use plastic ban takes effect on Dec. 20. Here’s what you need to know

    Canada’s single-use plastic ban takes effect on Dec. 20. Here’s what you need to know

    Canada Global (Web News) According to Environment and Climate Change Canada, Canada will prohibit the production and import of single-use plastics for retail sale in an effort to eliminate all plastic waste by 2030.

    The federal government announced the ban in a news release on June 20. Single-use plastics included by the ban include straws, stir sticks, cutlery, and checkout bags.

    Single-use plastics will no longer be produced or imported starting on Tuesday, but they will no longer be sold after December 20, 2023, according to the government’s website, “to provide businesses in Canada adequate time to transition and to deplete their existing stocks.”

    In June 2023, ring carriers, which are frequently used as drinking containers, will be prohibited from being manufactured and imported.

  • Punjab imposed an environmental emergency

    Punjab imposed an environmental emergency

    Canada Global (Web News) Punjab Chief Minister Chaudhry Pervaiz Elahi declared an environmental emergency in Lahore and other cities to combat the calamity-level smog.
    “There is a ban on burning crop residues across Punjab,” the CM said, ordering the implementation of a smog-reduction plan. He stated that action should be taken to control the factors that cause smog.

    He stated that EPD, transportation, and administrative officers should deploy to the field because any failure to implement the ongoing SOPs to reduce smog would not be tolerated and those who set fire to crop residues should face indiscriminate punishment, and that legal action against smog-emitting vehicles should be maintained.

    The city’s smog-emitting vehicles should be routinely inspected by the anti-smog squad. He added that farmers would be given a new harvester called “Hepper Seed” to eliminate crop remnants and that the squad should make sure that cars at the city’s entrances are checked.

  • First eruption of Hawaii’s Mauna Loa volcano in 40 years

    First eruption of Hawaii’s Mauna Loa volcano in 40 years

    Canada Global (Web News) The largest active volcano in the world, Mauna Loa in Hawaii, started erupting on Sunday for the first time since 1984, breaking the longest stretch of silence ever documented.

    Volcano Eruption

    Around 11:30 p.m. local time on Sunday, brilliant, hot lava erupted at the volcano’s peak, turning the night sky above Hawaii’s largest island a hellish crimson.

    According to the US Geological Service (USGS), the lava is contained at the summit and at this time does not pose a hazard to Hawaiians who live downslope.

    On Monday, the service issued a warning to residents that volcanic gases and fine ash could befall them.

    One of the volcanoes that formed the Hawaiian islands, Mauna Loa rises 13,679 feet above the Pacific Ocean. The main city on the island, Hilo, was 5 miles away from the most recent eruption in March and April of 1984.

    Despite stressing that there are no indications that lava may harm populated areas and that there have been no evacuation orders issued, Hawaii’s Emergency Management Agency said it had opened two shelters on the island as a precaution.

    According to the EPA, the top of Mauna Loa only experienced around half of the eruptions that were documented.

  • Pakistan will be among the first recipients of G7 ‘Global Shield’ climate funding.

    Pakistan will be among the first recipients of G7 ‘Global Shield’ climate funding.

    Canada Global (Web News) According to a G7 effort called “Global Shield” that would provide funds to nations affected by climate disasters, Pakistan, Ghana, and Bangladesh will be among the first recipients of funding. The programme was unveiled on Monday during the COP27 summit in Egypt.

    The 58 economies that are considered to be climate-vulnerable as part of the “V20” group are helping to build it.

    As Pakistan sought “climate justice” at a global climate meeting last week, PM Shehbaz Sharif urged the international community to share responsibility for climate change in his speech to the COP27 UN climate summit.

    The prime minister stated during the summit that “in Pakistan, more than 30 million people have been seriously affected; floods caused widespread destruction due to extraordinary rains; 8 thousand km of roads and 3 thousand km of railway lines were disrupted.”

    Senator Sherry Rehman, the federal climate change minister, warned during a panel discussion at the COP27 UN summit that delaying climate justice for the world’s most vulnerable people would be the equivalent of giving them the “death sentence.” She added that in the current race against time for adapting to the climate crisis, those with better resources would do so faster while others would have to wait longer.

    She claimed that the weak will always be the first to fall in any nation.

    Senator Rehman continued, “We are here to serve as a reminder that delaying climate justice for the disadvantaged is exposing them to a death sentence.”