BR100 Increased By (0.07%)
BR30 Decreased By (-0.21%)
KSE100 Increased By (0.1%)
KSE30 Increased By (0.05%)
AGHA 7.80 Increased By ▲ 0.05 (0.65%)
BECO 5.22 Increased By ▲ 0.03 (0.58%)
BML 57.84 Decreased By ▼ -0.82 (-1.4%)
BOP 33.98 Increased By ▲ 0.29 (0.86%)
CNERGY 9.90 Decreased By ▼ -0.71 (-6.69%)
CSIL 5.32 Increased By ▲ 0.02 (0.38%)
FCCL 54.70 Increased By ▲ 0.96 (1.79%)
FFL 16.60 Increased By ▲ 0.14 (0.85%)
FNEL 1.23 Increased By ▲ 0.01 (0.82%)
KEL 7.38 Increased By ▲ 0.10 (1.37%)
KOSM 5.79 Increased By ▲ 0.15 (2.66%)
LOTCHEM 29.39 Decreased By ▼ -0.26 (-0.88%)
MLCF 94.34 Decreased By ▼ -2.02 (-2.1%)
NBP 203.20 Decreased By ▼ -0.33 (-0.16%)
NCPL 56.89 Increased By ▲ 0.04 (0.07%)
NPL 67.55 Increased By ▲ 0.24 (0.36%)
OGDC 315.15 Decreased By ▼ -3.07 (-0.96%)
PACE 10.65 Increased By ▲ 0.02 (0.19%)
PAEL 43.20 Increased By ▲ 1.43 (3.42%)
PIBTL 16.72 Decreased By ▼ -0.09 (-0.54%)
PPL 219.95 Decreased By ▼ -0.22 (-0.1%)
PRL 49.40 Increased By ▲ 0.35 (0.71%)
PTC 70.50 Increased By ▲ 0.49 (0.7%)
SSGC 28.29 Decreased By ▼ -0.85 (-2.92%)
TBL 9.85 Increased By ▲ 0.08 (0.82%)
TELE 8.78 Decreased By ▼ -0.04 (-0.45%)
TPL 18.32 Increased By ▲ 1.15 (6.7%)
TPLP 13.21 Increased By ▲ 0.70 (5.6%)
TREET 22.71 Increased By ▲ 0.12 (0.53%)
TRG 60.30 Increased By ▲ 0.08 (0.13%)
By

DAVOS: US climate envoy John Kerry warned Tuesday against using the energy crisis stemming from Russia’s invasion of Ukraine as an excuse to build more fossil fuel infrastructure.

Kerry made the plea at the World Economic Forum of global business and political leaders in the Swiss ski village of Davos, where the climate crisis is among the top concerns.

“We should not allow a false narrative to be created that what has happened in Ukraine somehow obviates the need to continue forward and to accelerate even what we are trying to do to address the crisis of the climate,” Kerry told journalists.

“No one should believe that the crisis of Ukraine is an excuse to suddenly build out the old kind of infrastructure that we had,” Kerry said.

Moscow’s invasion of Ukraine has sent energy prices soaring over supply concerns as Russia is among the world’s top producers of oil, natural gas and coal.

China and Russia hold first military exercise since Ukraine invasion

The European Union is aiming to cut Russian gas imports by two-thirds this year, and the bloc is debating whether to impose an oil embargo on the country.

The EU fears that Russia could seize on the bloc’s dependence on its gas supplies to hold countries hostage over their opposition to the Ukraine war.

Kerry later told a panel discussion that the war had fuelled the argument that it “means you’re going to drill a lot more and pump a lot more” to meet Europe’s gas needs.

While Europe needs to find alternative gas supplies, it can be done in ways that do not require massive new infrastructure, including by tapping shale gas, Kerry said.

“We can meet… the crisis of Ukraine and the energy crisis of Europe and still deal, as we must, with the climate crisis,” he said.

Comments

Comments are closed for this article.