Climate Risk & Economics
Last year, as the world started getting immune to COVID-19, they turned to coal to compensate for the degraded economy. According to an IEA, this resulted in increased carbon dioxide (CO2) emissions by 6% (36.3 billion tonnes) in 2021, compared to 2020.
Climate Risk & Economics
Carbon offsetting has become a “go-to solution” to compensate for human-induced carbon emissions. However, critics have questioned the scheme's transparency and reliability.
Energy Crisis
Earlier this month, the EU’s Energy ministers urged the European Commission (EC) to take immediate action against the current energy crisis. The action plan that includes the discussion of imposing a price cap on natural gas was supposed to be delivered in mid-September, but it has been postponed.
Climate Change
The Inflation Reduction Act of 2022 aims to raise $740 billion to curb inflation by reducing the deficit, lowering prescription drug prices, and promoting clean energy. The bill, passed on August 16, 2022, was an amendment to the Build Back Better Act.
Energy Crisis
The European Union (EU) Energy ministers met on September 9 in Brussels to address the current energy crisis in the EU. The meeting agreed to speedily work on possible emergency measures to mitigate current high prices and support the winter demand.
Climate Change
Britain’s new PM, Ms Truss, made little effort to impress green campaigners when she was a Secretary of State for the environment, food, and rural affairs from 2014 to 2016. She is also believed to have agreed to cut the budget, which would have helped the enforcement of environmental regulations.
Energy Crisis
Russian energy giant Gazprom has permanently stopped gas supplies to Western Europe via Nord Stream 1, giving the reason for equipment issues. The European Commission (EC), anticipating the situation earlier this year, had already urged countries to cut their gas use by 15% from August.
Climate Change
Many European countries saw relatively little snowfall last year, making the Alps vulnerable with comparably little ice cover. Then the summer came this year with three heat waves (until now), marked by temperatures over 30°C, and these heat waves are melting the glaciers.
Climate Change
Wars mean destruction to the economy, human lives, and severe impacts on the planet. As the war begins, history has spoken and continues to speak on different occasions, be it Ukraine-Russian, Syrian, or Afghanistan— hundreds of thousands of people are killed or displaced.
Energy Crisis
The world creates 2.01 billion tons of municipal solid garbage each year. With the world's population already crossing 7.7 billion, the waste will only go up unless they are sorted out and upscaled.
Climate Change
On 13 June, the European High-Performance Computing Joint Undertaking (EuroHPC JU) inaugurated its latest supercomputer, Large Unified Modern Infrastructure (LUMI), located in Kajaani, Finland. With a peak speed of more than 550 petaflops per second, it is the fastest in Europe.
Energy Crisis
A tradition of importing gas and oil from Russia became more common during the decade after WWII, when the Soviet Union’s relationship with Western Europe flourished and Russia started delivering gas, oil, and coal, making mainly Ukraine the transit point.