RIYADH: The Russia-Ukraine conflict continues to impact its nearest European neighbors, with Italy, Norway, and Germany taking strict measures to curb shortfalls in supply of gas and oil. On a micro level, however, firms and institutions such as South Africa’s Standard Bank Group Ltd. and Honda Canada Inc are pursuing measures amid the global renewable push. Looking at the bigger picture: ·Italy will need a minimum of three years in order to fully substitute Russian gas imports with another supply source, Reuters reported, citing Ecological Transition Minister Roberto Cingolani. This comes as Italy is looking to diversify its energy supplies as it imports around 30 cubic meters of gas from Russia annually. ·Norway plans to ramp up its natural gas output in the upcoming months in order to be able to supply Europe with big volumes through the summer season, Reuters reported, citing local petroleum refining company Equinor. Europe has been bombarded with rallying energy costs and a shortfall in supply exacerbated by Russia’s invasion on Ukraine. ·Germany and Norway mull the construction of a green hydrogen pipeline connecting the two countries as European countries scramble to substitute Russian supplies, Bloomberg reported. A feasibility study on the project is set to take place soon. Through a micro lens: ·Major South African bank and financial service group Standard Bank Group Ltd. is aiming to secure as much as 300 billion rand ($20 billion) by 2026 to fund renewable energy projects, Bloomberg reported. This comes as the financial institution has vowed to achieve net zero emissions within its own operations by 2040 and from its portfolio of financed emissions by 2050. ·The Canadian division of the Honda Motor Company Honda Canada Inc is planning to invest as much as C$1.4 billion ($1.1 billion) over six years in its Ontario plants amid electric vehicle push, Bloomberg reported. Federal and provincial governments will contribute to the investment with an additional Canadian $263 million.