Business
Climate Activists, Farmers, Trade Unions Stage Protests Across Pakistan Ahead of UNGA, Demand $5 Trillion in Climate Finance
GUJRANWALA / KARACHI / SHIKARPUR: Climate activists, farmers, and trade unions staged demonstrations in various cities across Pakistan, including Gujranwala, Karachi, and Shikarpur, demanding climate reparations ahead of the upcoming UN General Assembly meeting. The protests, part of a coordinated Global Week of Action for Climate Finance, call for $5 trillion in climate finance to help count 
ries like Pakistan cope with the growing climate crisis.
Organized by the Labour Qaumi Movement, Pakistan Kissan Rabita Committee, and other workers’ groups, the protest in Gujranwala saw industrial workers and farmers join forces to highlight the disproportionate impact of climate change on vulnerable communities. Baba Latif, Chairman of the Labour Qaumi Movement, emphasized the dual threat faced by workers. “Industries in Pakistan operate with little to no environmental regulations, putting workers at serious health risks. Heatwaves and floods, driven by climate change, further threaten livelihoods. It is time for rich nations, who have grown wealthy at the expense of poorer countries, to take responsibility and provide the necessary funds for climate adaptation and mitigation,” he said.
In Sindh, two major protests were held. In Shikarpur, the Hari Jeddojehad Committee, Pakistan Kissan Rabita Committee, and the Pakistan Railway Workers Union – Open Line led a large demonstration. Ali Khoso, President of the Hari Jeddojehad Committee, reminded the crowd of the devastation caused by the 2022 floods, which displaced millions. He noted, “While our government has a role to play in relief efforts, we cannot ignore the fact that climate change is largely driven by the actions of rich nations and their corporations. These countries have exploited our resources while worsening the global climate crisis, and they must now pay their fair share to address the damage.”
In Karachi, the Pakistan Fisherfolk Forum organized a demonstration led by its General Secretary, Saeed Baloch. He called out the United States as the largest historical emitter of greenhouse gases, holding it primarily responsible for the ongoing climate crisis. “The U.S. and other rich, polluting countries have a moral and legal obligation to cover the costs of mitigation, adaptation, and loss and damage in countries like Pakistan. Without adequate climate finance, injustice will continue, and it is the people of the Global South who will suffer the most as global temperatures rise,” Baloch said.
The protests across Pakistan were part of a broader regional movement, with similar demonstrations taking place in Bangladesh, Nepal, India, Indonesia, Malaysia, and the Philippines. Organized by the Asian Peoples’ Movement on Debt and Development (APMDD), these protests are focused on pushing for an immediate phaseout of fossil fuels and ensuring sufficient climate finance for vulnerable nations.
After a catastrophic fire five years ago, the Notre Dame Cathedral de Paris reopened this month looking almost the same as it did when it was first constructed in 1163.
The massive reconstruction project was a testament not just to the hard work of the French people – but also to the lasers, drones and other advanced technology that gave rebuilders a window into the building’s past.
“The time frame wouldn’t have been possible without the record of what existed,” Amy Bunszel, executive vice president of architecture, engineering and construction at 3D-software company Autodesk, told CNN. Her company was a major part of creating a model of the building as it existed before the fire, giving the reconstruction effort a sort of guide for what to do. “It would’ve required a lot more guesswork. Imagine taking millions of tourist photographs (as a reference point) versus having one consolidated perfect representation.”
Back in 2022, when the labor market was so hot that Beyoncé even released a song about it, Americans were job hopping in large numbers, boosting their salary in the process.
The Great Resignation was in full swing.
That fueled fears of a “wage-price spiral” — where wages and prices perpetually rise and feed off each other.
But what appeared to be a hot job market was actually a symptom — not the cause — of the recent bout of inflation, according to new research that explored the consequences of unexpected rising prices on the labor market.
The Container Store has filed for bankruptcy. It is the latest well-known retailer to fall victim to customers cutting back on discretionary spending.
The 46-year-old company said in a statement late Sunday that filing for Chapter 11 bankruptcy protection will help it “bolster its financial position, fuel growth initiatives, and drive enhanced long-term profitability.” The Container Store revealed in court documents that it has about $230 million in debt and just $11.8 million in cash on hand, but will receive $40 million in fresh financing.
The chain’s 102 locations and website will remain open for orders during the process, which is expected to take 35 days to complete.
“The Container Store is here to stay,” said CEO Satish Malhotra in a statement. “Our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our business, deepen customer relationships, expand our reach, and strengthen our capabilities.”
Payments to vendors and suppliers will be made as normal and all customer deposits and orders will be honored and delivered, the company said. The Container Store plans to emerge as a private company when the Chapter 11 process is complete.
The company’s Sweden-based Elfa brand, described as a “premium customizable storage system,” isn’t included in the bankruptcy.
The filing comes a few weeks after a deal with Beyond, the parent company of Bed Bath & Beyond and Overstock.com. The Container Store was expected bring Bed Bath & Beyond-branded products to some stores, but that deal appears to be in jeopardy. Beyond previously said that the financing deal was in doubt because the Container Store was struggling to reach an agreement with its lenders.
The Container Store’s stock has already been delisted by the New York Stock Exchange because it failed to meet the exchange’s financial standards.
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