Roundtable: Oil sands has to embrace new low-carbon technologies to prosper
Posted May 27, 2020
While working on game-changing innovations like carbon fibres, Alberta should make jet fuel from food waste, panel hears
The oil sands sector will have to embrace new technology and new products if it is going to prosper as the world transitions to a low-carbon economy.
Addressing a roundtable hosted by Corporate Knights on May 27, Natural Resources Minister Seamus O’Regan said the federal government is working on a strategy that will not only exceed Canada’s existing commitment to reduce greenhouse gas (GHG) by 2030, but put the country on a path to net-zero emissions by 2050.
He said Canada’s oil sector – the fourth largest producer in the world – will not disappear over the medium-term and has to be part of a national climate-change strategy.Continue Reading...
Roundtable urges feds to dramatically scale up support for nature-based climate solutions
Posted May 20, 2020
Canada could reap sizeable economic and environmental gains by supporting better carbon management in our forests and farms
Canada could reap sizeable economic and environmental gains by supporting better carbon management in our forests and on our farms, which are often treated as afterthoughts in the climate-crisis debate.
In an online roundtable Wednesday, experts urged the federal government to dramatically scale up its support for nature-based climate solutions.
The approach would not only contribute to the country’s effort to reduce greenhouse gas (GHG) emissions; it would protect nature, create jobs, provide additional income to struggling farmers and promote reconciliation with Indigenous communities, a white paper produced for the session by Ralph Torrie of Torrie Smith Associates and Céline Bak of Analytica Advisors concluded.Continue Reading...
Roundtable: Paying steel and cement to go green could generate huge carbon savings
Posted May 13, 2020
Smaller manufacturers could boost recycling and lower GHGs if government delivers recycled content requirements
Canada’s heavy industry is gearing up to dramatically reduce its greenhouse gas emissions but will need government support to hit net-zero emission targets.
In an online roundtable Wednesday, policy experts said that even “smokestack industries” in Canada can become low-carbon sectors using existing technology. To make the transition, however, they’ll require government subsidies.
Manufacturers generate more than 10% of the country’s gross domestic product, export more than $354 billion in goods annually, and employ 1.7 million Canadians. Energy-intensive heavy industry – including steel, cement, pulp and paper, and chemicals – accounts for 85% of the sector’s emissions.Continue Reading...
Roundtable: Canada needs to ramp up EV strategy – and make transit free
Posted May 6, 2020
More made-in-Canada EVs, support for green freight and a year of free transit could turn Canada from a laggard to a leader
Canada needs to move aggressively to shift the transportation sector off fossil fuels and get people out of cars while taking full advantage of the economic opportunities available in the transition.
In an online roundtable Wednesday, a chorus of policy experts urged the federal government to undertake a 10-year, multibillion-dollar effort to electrify the transport sector as part of its effort to achieve net-zero emissions of greenhouse gases.
Transportation – including passenger vehicles, commercial trucks, planes and trains – accounts for 25% of Canada’s emissions. Emissions from the sector have grown by 53% since 1990.Continue Reading...
Roundtable: Greening Canada’s electricity could help kickstart economy
Posted April 29, 2020
Unprecedented federal-provincial co-operation needed to overcome the balkanization of country’s electricity, say panelists
The federal government could create thousands of jobs and virtually eliminate greenhouse gas (GHG) emissions in the country’s electricity sector with a $1.7 billion investment in transmission projects, analysis prepared for Corporate Knights suggests.
However, the effort would require unprecedented federal-provincial cooperation to overcome the balkanization of the country’s existing electricity markets, experts said during an online conference Wednesday.
With Canada mired in a deep economic slump due to the COVID-19 pandemic, Ottawa is preparing to launch a massive stimulus program to get the country back to work.Continue Reading...
Does it pay to green oil?
Posted April 15, 2020
Fuelling innovation in the oil and gas sector, while contentious, could generate significant GHG payback
Feds under growing pressure to act on climate finance in next budget
Posted February 11, 2020
As feds prep for minority-government budget, Morneau faces calls to fold climate impacts into investment decision-making
Ottawa –Finance Minister Bill Morneau has said little publicly about sustainable finance over the past seven months since a federally appointed panel argued that climate-related issues must become mainstream considerations in Canada’s financial sector.
But with the Liberals preparing for their first minority-government budget, Morneau is under growing pressure to act on the panel’s call for better data and clearer rules on climate-related finance and other incentives to drive capital into emerging low-carbon technologies.Continue Reading...
Hydro-Quebec plugs into China’s EV push
Posted February 3, 2020
Canada’s largest power utility pins big hopes on growth opportunities beyond its border
Hydro-Québec is making a push into China’s exploding market for electric vehicles.
The provincially owned utility is evolving from a company that simply generates and delivers power to one that does business across the electricity supply chain.
In its strategic plan, released in December, Canada’s largest power utility pins big hopes on growth opportunities beyond its border, including convincing the world’s leading auto manufacturers to integrate Hydro-Québec’s EV powertrains into their vehicles.Continue Reading...
Canada’s second largest pension fund gets deadly serious about climate crisis
Posted December 9, 2019
Outgoing Quebec CDPQ head, Michael Sabia, says taking action on low-carbon investing is not a political act
As world leaders converge at this week’s climate summit in Madrid to debate how best to shift to a net zero-economy, Michael Sabia is leaving the helm of Canada’s second-largest pension plan having firmly placed Quebec’s retirement savings at the forefront of the global movement for low-carbon investing.
Sabia, who recently announced he’s stepping down from the Caisse de dépôt et placement du Québec (CDPQ) in early 2020, ushered in a fundamental change in how the $326 billion Quebec pension fund treats the climate-related risks and opportunities that are embedded in the 21st-century global economy.Continue Reading...
“Bridge” to clean energy goes up in smoke
Posted November 5, 2019
As renewables grow cheaper, betting on natural gas as a transition fuel is proving to be a costly error
It’s been a tough few years for the world’s largest manufacturers of natural-gas-fired turbines for the electricity sector, as the much-heralded dash to gas in the power sector is showing signs of flagging.
The three big makers of gas turbines are General Electric, Siemens and Mitsubishi Hitachi Power Systems, and together they have seen global sales – as measured by total megawatts of capacity – decline by half since the high-water mark in 2014.
Faced with growing competition from low-cost clean energy options, all three companies are cutting back global operations related to the gas-fired power business after ramping up in anticipation of a shift away from coal and nuclear.Continue Reading...